Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1842-03-22
LOAN BILL.

LOAN BILL.
MFR Fillmore. in view Of tho present conl iiion Of
he Treasury. felt called upon to move ir action
upon the Loan bill. proposing an extension ordms)
instead Of the General Appropriation bill. The
yeas anil nays were ordered upon the motion. The
vote OF two thirds was necessary 10 sustain the mo-
ton lis to SO was the vote-not enough.
The House. however. went IL To committee Of the
Whole. aud here No F,llra9rc called Tor The eJnsid-
Grafton Of The Loan bill.
The Chairman Of the Committee tNir Briggs de.
cided that the mniion was unr IN order.
An appeal was taken. aui the decision Of the
Chair eyersOI by a full vote.
The bill reported by the Committee Of ways and
Means was then read a. follows.
A BILL
For the extension of the losn or eghtcen hindted
aud forty one. AID fr al aIIriln Of Eve million
dollars thereto.
BE a enacted By tie s, iatc aud Hiase NJ Repre-
sn ahr,s If the U,iied States If America ia Con.
CresE GsSsmbisd, Tia, the TINE limited hy tbs irs,
seciinn OF the ac, o C,ggres, entitled An act al.
ihnrring a loan not exceeding the sum of twelve
millions oidollars." approved July twenty frsf, eIsh-
teen hnndred and ~iOriy-our, for obtaining sail loan.
shall be, and the same ~ hereby extended Tor one
year from The passage OF this act.
Sec. 2 And BE- u 6l,tber enacted. That 30 much
Of said loan as may bs obtained after te passage OF
this ndi shall he made r-imBnrsahle either al the
will Of the Secretary OF the Treasury, AFTER ,x
nunihs noIcs, or al any time after twelve year.
from the first day of tauary next.
Sec. 5 And Be "a Iurtter enacted That The cert.
hcsifs hereafter To be issued TOR said loan NAV. " hen
required, be IN such form as shall be prescribed by
the Secretary Of the Treasury so that the stock may
he iransfe rable by delivery of the certificate. instead
OF being assignahle on the books Of The Treasury.
Sec. !. And b. 1t f.rher enacted, That all the
provisions OF the slld act. noi hereby modified OF
changed, shall be and remain la i0rcs. and apply o.
this act.
Sc. ). Aud b. itfrfBsr eHariei. That the Pres
ldynt OF lac United States - hereby nuihp izsd ~
borrow an adduirn1I sam. not cIrceding the SUN
of five millions Of driars, and II ia MS opinion ihs
esIgencics ofthe government nav require the same
which aduonal losn shall be made within the time
aud according To he provisions of said act, IS mod..
fed by has.
March l2-Mr Fillmore. by direction or the Com
mitse OF Was anI Means. gives notice tha; he
will move the following amendments u the BIZ
forihe eTtersion "f the loan nf eighteen hundred
and Gry-one, and Cor an addition Of five m.l ION
dollars thsrelo."
Al the end OF the second section add: las shall be
agreed upcn and determined ut tho lime OF issuing
said STOCK"
Amer The third section add:
Sec. 1. And be iLfurfher enacted, That the pro.
viso TO the second section of sand at Is heresy re-
Pealsd and the Secretary of the Treasury is hereb,
authorized to cause the stock hereafter To he ISSUED
10 he disposed of 1t the highest price which he Cot
obtain Tor the same, after advertising n reas0nab.,
time for proposals; and ~ stock whatever shall he
sold. without previous nd .erilscmen'. below par.
Sec. 5. And Be a. further enacted, That the N ,ney
arising iromduIes un g1ods. waies aud merchandise
which may be imported into the United States, be
and the same aro hereby. pledged for the paymen
and redemption of the stock hereafter o. be ISSUED
under and by virtue Of this act aud the said act q
July twenty first. eighteen hundred and foriy-oae
hereby amended. and 50 mach thereof rs NAV be
necessary To pay lhe interest on said stock, and re.
deem The same when due. IL hereb. appropriated Il
that object. to he applied by the Secretiry Of ID,
Treasury TO Sucb payments and redemption.
Sec. o. AID Be a. further enacted, That IL shall
be the duty of the Secretary OF the Treasury To- re
pon o. Congress. al the commencement Of The mex
session, the amount Of money borrowed under thu
act AMI the act hereby amended, and nf whom and
upon what terms u shall have been Obtained. with
au ahsinct or brief staIemeu efall the prop lie sub
mucd nr The same. Distinguishing bctv cen those
a crpt'd and hose rejected; aud a detailed slate
meui ni the expense OF making such loans:
After the fOarjh section add:
Sec. 8 AMI BE- a further eagciei. That all Trea,
sufy noies heret"f,re issued under he at enu.lef
AN act To nnthoriz' The issuing ofI'rensury notes.
approved the twelfth day ofOcIph-r. eighteen han.
dred and thIry-seven. aud the acts sBbsequent there
To-. AMI now ontsIandIns aud unredeem.d. or Which
may hereafter be issued under and by virtue Of IN,
same. shall. II due and unplid befora The eighth dny
Of March. eighteen hundred aud iorty.rwo, bear in
trresi NJ the rate Cf SIX per cent. per nnnum fion
that day; and when they may tecIme due hereafter
nr nay have become due sInre The said eighth da'
OF March, eighteen hundred and fotv-txo. shall
bear interest frrm the day sf heir 50 baC,ning due
At The rate o. 6 per Ct. per ann. until hey shall be-
respectively redeemed: ProUil Ell. That srch intereSl
shall cease NJ the expiration of sixty days notice. o,
be given atHny time by the Secretary Of he Trea
sury IN one Or more Of the principal papers publish.
cd at the seat Of g pyemmFut. Of a readiness 10 re.
deem the same. And he said interest shall bp pay.
able semt-annulily at the Treasury Of The United
States on the first days Of January and July ia
every year.
Strike out the fnh section. and in the lille IN,
words "nnd FOR an addition of five million dollau
lhere'o.' and add for allowing interest on Treasury
noies due"
The bail having been read, Mr. Wise moved n
extend The tine ~ fifteen years instead sftwelVe as
proposed by the President.
Mr. Mckeon, Of New York. was Cor incprnorn,ing
an amendment To repeal The Land Bill and for 10.
hitting The time.
Mr. Snith Of Va. was hr limiting The time anc
increasing The rie Of interest, and thus The PROPOSE.
ions were nu.liied rs the tav advanced
Mr. Wise sustained h- proposition in q very good
speech and before ibo adjournment the motion al
me memhsr from Virginia WAS sustained in 10 lual
'iaiesmaniike aud patriotic speech iua Mr. Adam.
Of Mass.
Mr. Copper Of Gen. followed 0, O lame patty 81
Fort mostly breign TO the su3J-ct under consider
] aIpn.
The Hons" is in session - close.
l. > The House have rejected the rejected III
mniions Of Mr. Wise and Mr. Smith, To amend III
Load Bill.
Pin-FtHder 70 C0Rgrsss-Ths collective wisdom
Of The people, in Congress assembled. continues o