Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1842-03-28
a7TH CoNGREss--sEooND SESSION



In the House of Representatives, to day, Peti
tons were presented in order, in great numbers,
among which were many for increase of duties
on various articles.
MIR. Arnold presented petition, (purportug TO
be from citizens of Virgna,) the reading Of which
WINS received with much laughter, declaring that
John Quincy Adams did not incur deserve cen
sure for presenting the llaverh petition that
Mr. Wise has justly incurred the charge OF fla
gravity wasting the time OF Congress by debating
that subject, which could he of no public utility
that Mr.. Marshall, in endeavoring TO nculcae The
doctrine that the people have no right 10 petition
for what Congress cannot grant, has incurred the
censure of those who believe the people can
govern themselves and have as good n right as
their Representatives to know for what they shnll
petition and that Messrs. Wise, Marshall and Ad-
ans ought to he publicly reprimanded by the
Speaker for using toward each other blackguard
language, and recommending the adoption of
rule to prevent personalities in debate, &c. The
question of reception was raised, aud laid on the
table.
MIR. Stuart of Va presented petition from iron
masters of Western Virginia praying for addition
al duties OIL iron the printing of which was ORDER
ed, by yeas and naye, % to GO.
Mr. Barnard presented petition Of 80 citizens
of Williamsburg, Kings county, N. Y, for the re-
scndng ofthe 2lst rule, and the redress OF griev-
nnces of the North, particularly with reference to
the right OF petition, or as an alternative to take
which he proposed to refer with instructions for a
report against the prayer, the reasons therefor &c.
Mr.. Wise raised the question of reception and
MIR Briggs proposing TO debate it, the question was
laid over.
Mr.. Everett presented petition Of about two
lines in length, and signed by himself requesting
the House TO pass an Exchequer hill which ac-
compnnied it., Mr.. Profit ondeavored to get this
petition ruled out as being an invasion Of the
rules but he couldn't get n corporars guard tc
eu+lnin him. MIR. Wise moved the printing Of this
.rumenl; but how that was disposed Of we are
u able to say
Mr.. EVERETTS PLAN OF A FISCAL
AGENCY.
HOUSE OF REPRESENTATIVES,. March Ia, 1912
Committed TO the Committee of the Whole House
on the state OF the Union.
|. The Treasurer of the United States TO hole
his Office during good behavior, but removable OF
the address of a TWO thirds majority of the House
of Representatives.
2. The Treasurer to receive, keep, and disburst
the revenue through the agency, without charge /,
the United States.
3. The Treasurer TO he the Comptroller OF the
agency all its effects 10 be held by him in trust
and all It's contracts TO be made and enforced il
his name, as Comptroller of The agency.
a. The United States, through ,he Treasurer, Il
have a lien on all the effects of the agency 70
all its debts due to the United States
S. The agency TO be based n capital of $50
100000; one-third to he subscribed by the Unitet
States in six per cent. Government stock, aud tn
residue by individuals, in specie,l by nstament,
within three years. 10 commence operation vile
ne-thrd is paid in.
6. The agency TO be managed by board G
directors, one-third appointed by the President an
Senate, the residue by the individual stockholder
z. The board of directors to establish offices q
such places as the Treasurer shall deem necessar
and proper, for the receipt, safe keeping, dis
bursement Of the revenue and TO appoint tn
managers of such offices, and all other necessar
agents and servants, and fix the rate Of their con
pensaon.
8. The dealings of the agency to be limited
!. TO the receipt, saie-keeppg, and dlsburse
ment OF The revenue.
H. To the purchase, SALE and receipt on demo:
lite, of bullion and foreign and domestic coins.
Ill. To the sale of ills bills of exchange.
Nv. To the purchase of domestic and milan
bills of exchange, founded on business transac
tions at sight, or not having more than ninety day
TO run, payable at any of its offices other than
the one where purchased. The maximum rate
of discount and premiums on bills TO be fixed b
law.
9. The agency to be authorized to issue bills
circulation for specie deposited, and 10 twice til
amount of the specie paid in by the intlividi
stockholders: PROVIDED, That the amount Of i
bills Of circulation shall not exceed twice the
mount OF lis specie on hand.
10. Its bills of circulation, wherever payable,
he receivable at all the Offices for Governme
debts, and for debts due The agency.
IL. Holders of bills of circulation, wherev
payable, TO The amount of S 1000, TO be entillt
TO receive, at any office where presented, n no
assgnable certificate, bearing interest at four p
cent, payable in one year at the Office where
sued, or at the election OF the holder, at any 9th
Office at three per cent.
IL. All profits over seven per cent. to be pass
TO the credit of The United States.
b. The Treasurer and the stockholders at
times to be entitled TO the inspection of all 1
accounts, records, books, and papers of the agent
H. The Board of Directors to make month
statements of the condition of the agency, to
by him annually laid before Congress.
Is. The act establishing the agency to be repe
able at the pleasure of Congress; but if repeal
within twenty years the United States TO refund
the private stockholders all profits over six =
cent. on the Government stock received ~
passed TO the credit of the United States, or
hand, and to secure to them their just share of
effects of the agency.
In Senate, Mr.. Clay presented petition irc
Pennsy lvania, and one from Orleans county,
Y, complaining of the dsrepu;abe proceedir
Of Congress- lis ineificiency for public good, 4
and advising them TO adjourn. Also, from NJ
Blennerhasset for remuneration for depredatit
committed on Blennerhasset Island about 1905
Petitions were presented for protection, &C., u
several private bills were passed.
resolution by Mr.. Barrow directing mqu
ly the Secretary of War to the expectancy
- mediate appropriation for the construction o
War Steamer for the defence OF the coast of N
Orleans, was adopted.
The resolutions of Mr. Clay, relative 10 the r.
enue, &C., were taken up, and Mr.. Choate mi
an able and eloquent speech in their support, a
with particular reference to their relation TO pi
lection, in very clear manner arguing the &C
stitutiona right, as we'll as the benefits 10 all int
ests to be derived from the protective policy.
Senate then went into Executive session.
TUESDAY, March Is
In Senate, to day, the resolutions of MIR. e
were again taken up, and MIR. Miller made Il sou
and practical speech in support of the protect
policy, by means Of discriminating duties to
amount equal 10 the waits of Government
maintained that the Compromise Act justified