Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-01-15

lie Banks Of Amsterdam a.;d ienbarg which received
Jrposi;es and issued certificates for the amount, which
II. coucndcd furnished the best exchange currency the
world cycr saw: and argued that if the Government
could incidentally furnish exchange currency oil
nat description he would vote tor IT, lie had, at the
extra session, suggested plan somewhat siiiaF, W
specch. extracts from which lie read to The Senate
rian had BEEN after the adjournment OF that SESSION.
uar.s,rd IN the Madisonlan, Of similar character,
winch had been copied INTO most of the Democratic
prints particularly i'll his own State, and by MI Gous
in his journal, accompanied by high eulog'es lie
thought the plan then suggested by hlm was suscept'
HE II notifications such could be made useful IN re-
nulatng the exchanges
IIa Lr,rycd il rirht be modified 10 leave 1t op-
iicual with the Government creditor 10 either take
specc or u certificate for the exact amount which was
,u. him. which would be receivable III payment Of dues
Ill the custoul-house, and IN payment Tor land lie
tbouoh such operation, connected with depostes
>, In. MINIS would furnish an admirable exchange;
and twenty-five millions thus furnished would be oi
more service To the country than one hundred millions
by the banks because Il would be not only cheaper,
but Il could run longer than the ordinary bill Of cx.
chance MIR w. dwclt At much length on the evils Of
The present banking SYSTEM its heavy tax on the com.
munr,y its tendency 10 Cypress labor, and attributed
all the arrangement Of business and all the distress TO
their orerallons 10 that source; and argued that il
wouid be impossible for the Government to devise any
scheme TO regulate and correct their evil tendencies,
unless il done through lis constitutional power 10
tax bank notes or the power TO involve them IN the
operations Of the Bankrupt Law.
| After Mr. W. concluded,
MIR. MERRlCK obtained the floor, and on his mo-
| ton
The Senate went into Executive session, and then
adjourned
HOUSE OF REPRESENTATIVE
| Mr. FILLMORE inquired whether the call for petit
tons under the suspension of the rules, would be con-
timed today whether the order OF the House, sus
pendinr that call, continued in force to-day.
The SPEAKER said that tie suspension Of the cal!
fr petitions operated for The day only and that the call
Tor petitions would be the first business III order I'LL all
the States had been gone through with.
| Mr. PROFIT asked if there not an order OF
the House requiring the COMMITTEE the Judiciary
70 repor, bill 10 repeal the bankrupt act today
Mr.. FILLMORE said he understood that the Com
mtee on the Judiciary would report any rate to-day.
The SPEAKER SAID that the suspension OF the rules
for the purpose OF receiving petitions passed by
vote Of lwohrds while the order 10 the committee
the Judiciary was passed by majority only lie CON
sidered the call for petitions therefore the first business
III order.
Mr.. J. G. FLOYD observed that the suspension Of
the rules for the reception Of petitions provided for this
vcrv case for was under the call Tor petitions that
these instructions TO the Committee the Judiciary
were moved II in fact part of the proceedings
under the suspension that was ordered By vote OF two
thirds.
The SPEAKER said that the difficulty that might
arise would be that debate might spring up, and then
the subject must lie
Mr.. FLOYD said tina, difficulty did not alter the
case The order Of the Committee 10 report to-day
imperative.
Mr. FILLMORE hcped that, under The circumstances
Of the Case the House would consent 10 70 into Com
mittce Of the Whole the state OF the Union, order
10 take up the Treasury Note BILL twas very evident
that the Committee the Judiciary would not report
to-day
| After some remarks from MIR. WARREN,
Mr.. MARSHALL observed, that he presented the
petition for the repeal of the Bankrupt Act and It was
on his motion that the call for petitions suspended,
aud his motion that the reference was made 10 the
Committee on the Judiciary, with instructions The
only question was had the House the right 10 make the
order IN the committee. II the House had such right,
the committee had alternative, but TO make the
port as directed.
| Mr. ATll ERTON wished to make a suggestion that
would this difficulty that seemed TO be presented
He wished 10 know Of the Chair If the motion OF the
gentleman from New York to suspend the call for pc
tiions prevailed, whether reports would not then be
the first business III order.
The SPEAKER replied, that if The motion prevail
ed the gentleman from New York would then have
the right Ia move 20 INTO Committee oi the Whole.
MIR. ATHERrON. But the House could vote down
tic notion and then would reports re first in order:
The SPEAKER. Undoubtedly they would
Mr.. MARSHALL appealed from the decision Of the
Chair, and moved the previous question
| MIR. HOLMES appealed to Mr.. Marshall 10 with
fuslng to ID 50,
The question was put on secondng the previous
question, and was carried.
And the previous question having also been carried
without; division, the man question sustaining the
decision of the Speaker taken and decided in the
aiirmative-yeas III, nays "A.
So the decision of the Speaker affirmed.
On motion By MIR FILLMORE the order for petl.
tons was suspended, and 4 second motion by the
same the House resolved itself into Committee Of the
Whole the state OF the Union, (llr Hopkins of Vir-
gina in the Chair and resumed the consideration OF
the Treasury Note Bill.
4 Mr.. UNDERWOOD, who had the floor, gave at some
length his reasons for voting this time for The OF
Treasury notes though he had heretofore been opposed
to them lie would much prefer loan, but as II was
ascertaned that the money could not be raised in that
way, in the American market, without giving an inter
est Of per cent and the exigencies of the Govern
ment required immediate supply, he would vote for
the BILL lie thought that the borrowing OF money al
per cent would have an injurious effect on the State
stocks and this was additional reason for his being
opposed TO giving that high rate OF interest In the
course Of his remarks he suggested an amendment to
contne the OF the Treasury notes to the creditors
of the Government alone.
Mr. GAMBLE next gave his reasons why he should
for the bill lie had heretofore been opposed to
The issue ofreasury notes, believing il miserable
prdlen for supplying paper currency. lie had had
conflict in his mind whether he should vote for this bill
or not aud if the guilty could only suffer the inconve.
niences oil empty Treasury, he would unquestionaby
vote against it. But he could reconcile it 10 his
mind 10 let the innocent public creditor suffer he
give his consent 10 The passage Of the BILL lie looked
upon the present eXpedient consequence Of the
want Of Bank of the IT, 5. When snch institution
existed, he SAID the Government had occasion TO
issue Treasury notes.
Mr. FESSENDEN also said that he would support
The bill 1t was supposed By that the Wing party
should 70 against il; but Re knew why,
member Of that party he should do 50, believing the
measure constitutional and the occasion such all one
as called for Of the kind.
Mr. DEAN Of Ohio having obtained the floor, went
into examination Of the general course pursued by
the Wing party since they into power lie re-
viewed al! the promises they had made to the country
while seeking power, and showed how they had been
broken tracing the present deplorable condition OF the
Treasury, well as the country at large TO these i'll.
Judged and disastrous lie felt, however, for
the honor and interests Of the country, and would vote
for this bill, # put IN such shape would allow him