Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-01-13
TW ENrY-sEvENTH CoNGEEss--ad Session
~
V0YdnY. .JaYHaTy l0, l-i2.

.Vondag, Jaauary 10 l-i2
The PRESIDENT laid before the Senate the follow
ing communications:
l. From the Navy Department, transmitting list OF
the names Of persons employed as clerks in that De-
partment in le4l, with the compensation Of each
From the War Department. containing state
nant Of contracts made BY the various branches of That
Department, on behalfofihe 5, during the year ISL
g. From the Secretary Of the Treasury, in answer
toa resolution of The Senate requesting him to com
lnunicate statement OF The imports Of gold ana SILVER
coin and bullion annually and as lar BACK US the re-
cords of the Treasury will permit the same 10 be made
nm also the annual amount Of gold and silver coinage
in the mint and branch minis OF the u > since the es
Enlistment Of the mint; also the annual exporaton
of gold and silver coinage OF the mint oil the u .
with letter Of recapuation, showing the aggregate
under each head
A. From the War Department, in answer TO the reso.
luton of the Senate with regard to The number, ctc o
cadets ut West Point
:, From the Treasury Department, in compliance
with resolution of the Senate, which 1T IS stated
that the rubc debt, the 23I OF December, loJ ION
account Of Treasury notes, debts oil the Three cities oi
the District Of Columbia assumed BY the y - INC ou
funded and unundcd debt and part Of the twelve mil
lion loan was Sl1 72o,oe5 90 and that on the 81 Of
March last the debt the same items was S;S319oo9
81.
G. Also, from the same Department, in compliance
with resolution of the Senate of the Sd OF March last,
comprising statement of the Of persons to whom
the military land scrip has been issued
Mr. DIXON was, in consequence OF III health, ex-
cused from serving upon the COMMITTEE on fepeiuto-
airy Claims. ..,.n,.nr az
Mr. BUCHANAN presented memorial from the
Board of Trade Of the city OF Philadelphia, requesting
that the Bankrupt law may be modified so rs not TO a
ply to any debts heretofore contracted; and, II TINS
should not be DONE that the law be so amended that
there may be discharge under IT. unless the assets
of the bankrupt pay fifty per cent IN the doiiar
and il this should not be elected that the law DC re-
pealed altogether.
Mr. WALKER presented numerous petitions from
the CITY of New York protesting against repeal
or q postponement Of the Bankrupt Law, and others
merely against the repeal lie observed that Aiisss-
sippi at the last session of the Legislature OF that
State had instructed her Senator's and requested her
for the passage OF the bill; and
as these instructions had not been rescinded he con-
sdered that he bound 10 vote against It's repeal
He did not, however, consider himself bound to vote
against any proper amendments which might he offered
10 H. aud he should vote for TO include banking m
s,itu,ions because he viewed such measure as The
most important of the age. lie believed that 1t was
the battle field, which victory was to be declared
either on the side of the banks or Of the people
and as he saw nothing in the Constitution 10y means
of which they could put those institutions winch
were unable 10 redeem their obligations IN slate
of liquidation and prevent them from delug'ng the
country with their irredeemable paper, he thought
That this desirable end might be attained by amend
mept of the Bankrupt law. lie thought, too, that ny
such STEP the real exchanges OF the country would
be benefited. But what was the meaning OF exchange
m the common accePtation oil Tie terni Nh! II was
nothing but table Of the depreciation OF bank paper
On this principle exchange between two institutions
situated on different sides of Chestnut or any other
street. might be fifty per cent The true way 10 egu.
late exchanges however, to drive the deprecated
paper Of the banks out Of circulation, because II one
State REQUIRED its banks to resume the banks OF SIS
Ter State might prevent them from doing So In three
four,hs oftle States the banks had whipped the States
INTO humiliation and he had almost said degradation
There was scarcely favor which the banks asked but
what they received, and large majority Of the States
of this Union had permitted them to suspend specie
payments for four years. After The banks doing THIS
he wanted the country TO see whether 'hey were 70
whip the Congress of the United States lie would
onpose the repeal of the av but would contend that
banks ought to be included IN its provisions nSa s
operation by supplement to the act than TO repeal
The law and trust 10 the changes of separate and lso
lated bill 10 effect this desirable object
MIR. MOREHEAD presented a petition, praying Tor
repeal of the Bankrupt law, and petition asking tna'
j, may neither be repealed or postponed, h. CIV
Mr.. CHoATE presented petition, signed by my
merchants Of Boston, praying that the Bankrupt IA"
may 60 into operation without delay; as'' the Fes0