Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-03-26

BY LAST NIGHTS MAIL.
Tharsday.


under discussion. Mr.. Wses amendment, to repeat
the Distribution section OF the law of the Extra SEES
sion An objection had been made on wednesday 10
the amendment, on the ground that IT was a new sub
ect, which could not be Incorporated into the loan o
Mr.. Wise resumed the debate on that appeal III
\ defence Of his amendment.
\ Mr.. Caruhers followed in reply to MIR. Wise.
/ The debate was continued by Messrs. VIM {. John
son, Colqut, Holmes, and NJ A. Copper.
The question was then taken by tel!ers, and the de-
cis.on Of the Chair was reyersed-ayes al, noes ~
Mr.. Wise then offered another amendment insert as
proviso the 9Th section, provide that whenever the
stock shall sink below par, the Secretary OF the Urea
sury shall purchase aud redeem the same Tor Inc use
OF the Government. THIS, he conceived, would keep
the stock always at par.
This was debated By Messrs. Wise and Fillmore un
til twenty minutes past four o'clock, when the Com
miiee and reported progress.
The House then adjourned.
In the Senate, Mr.. Rves proposed an amendment to
the resolutions of the Senator from kentucky, (hr
Clay,) and took occasion to debate at considerable
length on the present state of the public finances
The condition of the Treasury had obliged the Exc
cutve call twice upon them, during the present SEES
sion of Congress, TO replenlsh the Treasury lho
present state OF foreign relations gave rise to some
| apprehension. Though he was no alarmlst, tins
posture of things was worthy of their most seri
Gus consideration, particularly when they were
aware of The power OF the Government they had 10
contend with. The public debt was over Slo,oooooo.
|
quescc in this state of things? 1t fundamental
ma KIM in all of public credit, that every crea-
tiou of a public debt should be accompanied with the
means of quldating it, There was but one way to do
this at present. and that was to suspend the distributor
of the proceeds of The public lands, and appropriate
them to the present emergency Of the Government
This would relieve all its wants. Mr. Il here went
fully into the origin and objects OF the Distribution
act, and then took cursory view OF the Com.
promise act After reviewing the various sources. oil
ID mot ra n
the present state OF the public finances and the sunken
credit Of the nation Mr. r. proposed an amendment 10
the 3D. 3d. 18th and 9th resolutions of Mr. Clay, appro
praling all the proceeds of the public revenue 60 re-
plensh the Treasury, and enable the Government to
resume its functions and redeem the credit Of the
ton.
Mr. Preston also moved certain amendments TO the
resolutions and took review Of the debate on THE
subject In the Of his remarks, he took occa
sion TO comment with extreme severity on the mao
vily of Congress in the management OF the affairs OF
the country allowing it TO become so depressed and
broken dow in credit and stated that he felt hnm'lia
ted at being member of the Senate, IRON its shame
full apathy
Mr. Clay anlnadvcred on the propositions oil NlessTs
Rives and Preston.
An animated debate then sprung up between Alessrs.
Rives Preston, Woodbury. and Be.ren, when Mr.
Clays proposition partly acceded IN, his first reso'
luton being adopted the question on the remaining re-
solution lies over to Tuesday next.
After some further unmporant business, the Senate
adjourned.
rive are glad to see Mr.. Rives determining not to
follow in the trail OF Mr. Clay. His course is not very
agreeable to the "lndependent," Mr. Clays organ 1t
SAYS alt will be seen, from yesterdays proceedings in
the House, that Mr. Wise-who holds, as to the Ad-
minis,ration the position called in Parliament that of
"mnnooer of the House of Commons'-has moved
upon the repeal Of the Land Distribution; and that
like slep has been taken by Mr. Rives in the Senate
awe have, for some time, augured tho approach Of
such measure, on the part of tho President.
"Thc present posture of things warrants, too, con
cuson as To the true purposes Of the Administration TO
which the public attention has not yet been aroused,
&c, &c.
We shall leave the Independent to his own ngen'-
Gus specu'aons-but what can be more PLAN upon Tue
surface of ,binqs than when funds are wanting and
also good guarantee is desired fur loans that Aessrs
TYLER Ryes and Wise should first seek to restore the
land proceeds the Treasury, where they legItmatey
belong;l