Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1842-01-06
Tmemtp=Sebrmtb Comgreas.
SECOND SESSION.


Mechanics and other bnnks in the city
Of New York, praying for the postpone
ment of the operation ofth Bankrupt net,
for two years from the first Of February
next.
Mr.. Benton spoke in favor Of the bill
Introduced by him, TO post pone the oper-
alton ofihe Bankrupt Act, till July. The
bill was read twice, and referred.
In the HoUsE.-alter an unsuccessful
attemp; to suspend the rule, for the Pur-
pose Of presenting petitions, MIR. Weller
took the floor, and addressed the House.
The subject under discussion, was the
resolution referring the portion OF the
Message relating to a protective tariff,
to the committee on Manufactures.
Mr.. Weller opposed the resolution. -
He was followed by Mr.. Williams, OF
Ten, and Mr. Hudson, OF Mass in favor
Of the resolution.
Before Mr.. II. had concluded, the
House adjourned.
In SENATE, Tuesday, Dec. ga
me mortal for the removal of tho seat OF
government, was received, and laid on
the table.
The Senate refused 10 to %, 10 refer
Mr.. Benton's bill relative 10 the Bank
rupt Law, to the committee on the Judi
ciary. Tho bill stands as the order OF
the day.
In the HoUsE.-The Tariff question,
on the motion for reference, occupied
the time of the House to the hour Of ad-
journment. The debate had not closed.
In SENATE, Wednesday, Dec. go
MIR. Clay, according to notice, intro
duced his amendments to the Constitu-
lion, and then the Exchequcr was dis
cussed.
The Board ofthe Erchequer.
Mr.. Preston remarked that as he had,
the other day, moved that the report OF
the Secretary Of the Treasury, with re-
gard to the Board Of the Exchequer,
be laid upon the table and printed, he
would now call the attention of the SEN
ate to this important matter, and nsk
them TO take it up. 1t was well known
that at the last session there was an en-
tire failure to establish any system Of f.
nance, aud the depression of the cur
rcncy, aud the credit aud embarrassment nj
Of the country, in which the whole COM
munity was concerned, now imposed the
responsibility upon Congress to do some
Thing for the general relief. Although
at the last session there was difference
Of opinion between tho coordinate
branches of the Government, he hoped
that the difference might be reconciled
by compromise, and still more by mu-
tual feeling Of the necessities Of the
country.
Acting in conformity with these feel
ings, and animated by the feelings which
no doubt animated Congress, the Prcsi-
dent had submitted a plan of finance /;
and it was his desire that this or some
thing else should before the termination
of Congress, be adopted, to afford, as
far as they could, relief to the people,
and, as far as they could, to correct the
currency Of the country, and give peace
to the public mind upon this subject,
which, as long rs it was aghated, must
Iesult in evils. He therefore hoped that
the wisdom Of Congress and the CO.
ordinate branch of,he Government would
cooperate upon this subject, and such
cooperation, he trusted, would produce
satisfactory results. At all events, he
would not permit himself to desr air, as
yet, as to the final and favorable iermi-
nation to which he had alluded. IL
would not be proper, at this time, to in
vestigate the system which they had be-
fore them but, unquestionably, it was a
sound system, and strong one, and j,
was novel in many Of its features. Ii
proposed alterations in the Treasury sys-
TEN, for which they had no precedent,
and which, as they would lead to impor-
tant sequences, demanded deliberate
consideration. 1t was, in some sort, n
compromise and the edifce was erect
ed from other plans, prepared in various
ways from projects which had heretofore
existed, and some Of its features were
entirely new.
He did not purpose, when he arose,
to 60 into a general examination Of this
subject, but merely desired TO approach
it, and he trusted that something would
be done to give sa,ilaction and repose to
the country. With this view, he moved
that the report Of the Secretary Of the
I 1reasury, which, at his instance, was
laid upon the table, be now taken up.
MIR. Tallmadge did not intend to speak
upon this subject, as ho was suffering
under physical indisPosition, but he
thought il to be his duty to move its refe.
renee to some committee, that they might
present it TO the Senate in due time for
their consideration. In making this mo-
ton, no should not be suspected Of put
ting himself in advance Of others, as
there were many gentlemen present who
were more able to take charge Of the
subject. His uniform course, he hoped,
would exempt him from suspicion OF
that kind. lie therefore moved that the
report of the Secretary Of the Treasury
be referred to select committee Of nine,
to be appointed by the Chair. IL this
motion should prevail, he would reserve
tho view which he now entertained un-
I'll more appropriate occasion.
Mr.. Buchanan then spoke in compli-
mentary terms Of President Tyler's We
| tocs but NO painst the plan he had .through