The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-25
CONGRESSIONAL ANALYSIS.
Senate.
H.

BANxnrpr Law.
After the presentation of petitions, dnring the
morning hour, and the reception Of reports rom
committees,
Mr.. WALLER made some remarks on the proprie-
ty OF speedy action on the Bankrupt Bill if il was
the intention OF Congress TO act upon it at all be-
tore the time at which II was to 60 into operation
II the law goes into operation ca the LIST Of Febru-
airy, decree OF Bankruptcy would be made in many
cases on that day, by which great many bank
rupts would be Invested of their property, to be sub
Ject TO division among their creditors. And il the
law was repealed soon after the decree OF bank
ruptcy was made, the question would arise, in
whom was vested the right OF property OF which
the bankrupt was Invested He asked whether
property in the bankrupt, if the law was repealed
before contaminated Of The proceedings under
the decree. He pointed out the difficulties which
would ARISE under the circumstances, and demon
tended to act at all. Therefore, 10 enable the coun
try 10 know speedily what was to be the decision
OF congress upon the subject, on his motion the
Bill from the House OF Representatives to repeal
the Bankrupt Law taken up, and received a
second reading, and before further action
TREASURY Morn BILL.
The Senate proceeded to the consideration OF tho
Treasury Note Bill The Bill having been engross-
ed, was read the third time.
MI. CALHOUN addressed the Senate for nearly two
hours, discussing at large the whole policy Of the
system OF measures enforced by the present Ad-
mln'stration He entered upon history of the
tnat expenditures IN proportion to population were
now reduced to the scale ofthe Monroe Administra
ton IN laSS retrenchment OF upwards OF 100000
removed. He proved from documentary evidence,
that the increase in three branches Of the public ex
pendture had grown up to more than double the
ratio OF expenditure then, and in several instances
to three, four, and hive times the proportion justified
by the ratio of increase in the population. The
civil list has been increased from two six mil.
lions; the expense Of the army per man, from two
hundred and odd dollars, 10 upwards of four hum
bred; and the expense Of the navy and marine SER
vice in proportion II the expenses IN these depart
ments were brought down, the improper S.1Pendi'
tures authorized at the extra session recafed, the
proceeds of the public lands restored TO f0 Vreasu-
ry, and due economy exercised, the expenditures
Of the Government could be brought within the ra-
ito preportIonate with the increase OF population
since 1873, namely, an expenditure OF seventeen
millions. This, he admitted, was a work OF time,
and should begin with the Executive Department:
Congress should aid that department In this work OF
reform. Instead of making this bill an authority tor
an additional loan, he imPored the Chairman OF inc
Finance Committee TO renstate the p.ovlso which.
at his instance, had beer stricken out; Tor so sure as
this authority for additional loan was placed at
the disposal of Government, 1t would defeat the
object Of retrenchment and reform, which ne had
shown should commence with the Executive De-
partment
Mr.. Evans, spoke at some leAglhin reply-and at
trbuted the necessity Of heavy appropriations to the
he demanded the yeas and nays on the passage OF
the bill.
Mr. CALHOUN raised a point of order. The bill, as
it came from the House, was a mere substitute Tor
the mode OF eectng the loan authorized by the last
Congress. But the Senate having changed It into
bill for borrowing FIVE millions IN addtIon-t IN eft
feet became revenue bill and as such, the Senate
had right to originate ii under the Constitution
that powsr being vested in the House Of Representa-
tves exclusively.
Mr.. Kire maintained the same view, and demand
ed the yeas and nays on the point OF order.
The PREsIpEwr pro TEN, said he could see no ques-
ton of order in it-tha il was constitutional ques-
ton which he had no right to decide.
discussion carried to some length, IN which
Messrs. CALHOUN, ALLEN, ARCHER, BERRIEN,
WRaHT, RIyEs, and WALKER participated, when
the point OF order was Withdrawn, and
The question then being, " shall the bill pass ="
1t was taken by yeas and nays, as follows:
Ypas-Messrs Archer Bates Bay ard, Berrien hoate.
EvaRs Graham, Huntington Kerr, Msngum, Merrick,
Miller Morehead Phelps Porter, Prentiss Rives, Smith
Of Indiana. Southland, Tsllmadge, aud Woodbridge-2l
NArs-Messrs. Allen. Benion, Buchanan, Calhoun,
Clayton, Fulton, King, Linn Nc Robss, Pierce Preston.
SEWER, Smith Of Tsppan Walker,
Williams Woodbury., Wright, and Young-2.
So the bill was passed
The Senate then adjourned.