The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-04-12

SECOND SESSION.
in SENATE.

49, s. ~ p,;,,sh Goysrnment regulating the trade
of foreign nations with its West ina'es anu WI"
American Colonies; and asserting that any commei-
ciaI regulation OF this country, which coniers on DIT
,sh vessels privileges which not fully recprocaed
nv thai Government, is an Infringement upon the
y;hs of our citizens, which ought not TO be tole-
rated. MI,
adelphia and Montgomery Countess praying that The
duty on foreign iron may be restored to what It was IN
1889.
Petitions were also presented by Messrs Ora
HAM, MILLER, SPRAGUE, WALKER, MORE
HEAD, MANGUM, and BAGBY.
MIR LINN gave notice that he would, tomorrow
ask leave 10 Introduce a bill to surrender to the
States Of Missouri and Arkansas the alternate sec
tons of public lands within their limits, reported as
not worth the expense Of survey.
Mr. CHOATE in pursuance OF notice, introduced
bill to authorize the Secretary OF the Navy 70 pu,
chase for the use Of the United States, Babbitts
anti-attrton metal in the construction OF machinery
and other work
Mr. PRES L ON, 10 pursuance Of notice previously
given introduced bill to incorporate IN the Dsc.
of Columbia an institution for the Promotion OF
Science and bill to invest the proceeds Of the Smith
sonian fund and to establish the Smithsonian lnst-
tuition.
The bill for the relief of the Howard Institution OF
the CITY OF Washington was read a thrd time ana
passed.
THE LOAN BILL.
The Senate resumed the consideration of the Loan
bi-the question being agreeing TO the following
admendnent, heretofore submitted by Mr.. Evans,
viz.
Strike out all after the enacting clause in the fourth
section, and insert
"Thut the Secretary of the Treasury be, and he
hereby s authorized dispose of the stock hereafter
be issued any part thereof at its par value bu,
part thereof shall be disposed of under par until
the same has been advertised reasonable time, and
proposals for subscription TO said loan invited and The
anth.
posaIs il he deem it for the interest of the United
States SO to do shall offer the highest price for SAID
stock any part thereof; ortn appoint an agent or
agents. provided in the third section Of the act al
proved July 81, i84l befre reced, TO negotiate the
same /; provided that stock shall be disposed of al
lower rate Than the highest price offered IN said pr
posais."
Mr.. BENTON said that The object was to strike out
all that part of the amendment winch authorized the
stock to be sold at less Than It's par value and it this
should be DONE he hoped that the gentlemen who had
charge ofthe bill would substitute therefor maximum
Of interest facilitate the loan lie had however
objection this bill because the pr Dcple nf was
the invention of Sir Robert Walpole, brought for
ward in the reign Ct George the seconds and even if
it good, he would almost go against it, because
it came from that source but it bad, and was
intended for bad purpose, and was pursued in Great
Britain and condemned, but that Government had
now got so far into it, that the evil could not be rem
edied. After some further remarks he moved that
be stricken out, and called for the yeas and nays,
which were ordered.
Mr. EVANS said that, if the amendment of the
Senator from Missouri prevailed, the Secretary of
the Treasury would be limited to negotiate the stock
at par, and every Senator who had spoken had ex-
pressed his OPP Mon that this could not be done If the
amendment prevailed, the bill would be rendered
gatory.
M KING and Mr. YOUNG briefly advocated
the proposition.
Mr. EVANS replie1.
The question then taken on the amendment TO.
the amendment and it was decided in the negative
yeas 10, nays % as follows, viz:
YEAS-Messrs. Allen, Bagby, Benton, Buchan-
an, Calhoun, Fulton, King, Linn, McRoberls, Sc
vier Smith, Of Conn s urgeon, Tappan, Walker,
Wilcox, Woodbury., Virgin, Young--is.
NAYS-Messls. Archer, Barrow, Bates, Berren,
derson, Huntington, Mangum, Merick, Miller,
Morehead, Porter, Preston, Rives, Simmons, Smith,
Of Ind, Southland, SPrague, Tallmadge, White,
Woodbridge-25.
The amendment IF Mr.. Evans was then agreed to
Mr.. BENTON moved to strike out the third sec
tion as follows
"SEc. g. And be IL further enacted, That the certi-
fcates hereafter to be issued for said loan may when
requed be in such form shall be prescribed by the
Secretary of the Treasury that the stock may be
transferable by delivery of the certificate instead of
being assignable on the books of the Treasury"
',
EVANS, WRIGHT, and WOODBURY., the
question taken upon the amendment and it was
decided in the Acknowledgements 90 nays 10, as fol-
lows:
YEAS-Messrs. Allen, Bagby Benton, Buchan-
an, Calhoun, Clayton, Fulton, King, Linn, Nero
pan, Walker, Wilcox, Williams, Woodbury., Wright,
Young-2O.
NAYS essrs Archer Bates, Berren, Choate,
Crit,enden, Evans, Graham, Mangum, Merrick, Mil
Ter, Morehead Preston, Riyes, Simmons Smith, OF
Ind, Southland, Sprague, Ta'lmadge, White-l9.
The question being on engrossing The amend
ments, aud ordering the bill to third reading,
Mr.. SMl I'll, of Connecticut, said that he regard
ed this bill party question, and in his vote upon
it, he would be governed accordngly and that il it
should I've passed in lis present form, il would enable
spectators and shavers to grow rich the necessi-
ties Of the Government.
The question engrossing the amendments and
ordering the bill to third reading then taken
up and decided in the affirmative.
THE RESIGNATION OF MR. PRENrIss
The CHAIR laid before the Senate the following
letter, viz
WASHINGTON, April, IL, l942.
Sir Having accepted the judicial appointment re-
Gently conferred upon me, it becomes my duty to re-
sign, as hereby do, my seat in the Senate of the
United States
In surrendering the trust have held for no less
period than leven years. hope may be allowed to
say, though do it under deep consciousness of
having. discharged the high and responsible duties
belonging to it, in very humble and imperfect
ner that has been both my study and my aim act
at all times, with scrupuous regard to the princ-
pies Of the Constitution and the Government under
which live, and with strict fidelity to the inter-
ess OF the country at large, well to the interests
of the in egent and patriotic people to hose gene
Partially, more than to any merits Of INV own
have been indebted for the elevated and du ned sta
ton for two constitutional in succession It is
almost needless TO say that il is wi no small degree
of ain and regret that break off and separate my
self from relations and associations formed under Cur
cumstances of such pecu interest, aud conierrnp
upon me, they have done in the highest sense
honor aud ai6caon. But hough these relations
and associations may longer in fact they viii
exist in lively and CRAFTY NJ rene" brance, and have