The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1843-01-10


Now, what was the history of the question before The
rouse liis subject was submitted 10 Congress al
the first called session. In report from the Secretary
Oh lhe treasury, and containing the lan Of AN Ex-
ehequer. IL was sent 10 IA House Ia pursuance of
an order Of this body calling for IT, The report which
the PRESIDENT submitted was committed 10 a select
committee, Inc majority Of which The friends of
u'e Executive The committee, after having the
suJee' under consideration until after the middle of
February ensuinl, made report on the subject and
reported bill substitute for the MAN nronosed HI,
The Executive, and II was said by one of The leading
NC heIs o the cabinet one OF the open al ayow ed adj
vncdtis fthe plan of the Executive (Mt w cluster in
Puoic speech Ia Boston that he plan substituted was
not worth rush and not worth the MT ON which
the bill would have to be engrossed Whatever thar
hlll was worth, 1t before the House fur surl
acion or modification which ls friends might make
hefei'fe, tbefe was no cause 10 complain that the
SUBJECT was not before the House. The minority of
that srie committee lei ontd a bill in ia yor of Hank
of The United States and that was also bef,ye The
tiou,e; and then, IN addition TO this the minority uf
the COMMITTEE OF Ways and Means had brought for
ward proposition nsirucling The eouiitiee 10 bring
'oiwafd Tue sub Treasury, and II II be adopted bill
VIII be brought forward TO establish that system -
Had they not every possible pbass Of the subject be-
iore 'he House and the country Ii seemed 10 him
10 be 80 The COMMITTEE OF WAYS and Means had
come 10 The conclusion that this plan ofthe Executive
was most Objectionable, and they preferred to submit
resolution ON which the ofihe House could be
taken. II there was solitary individual in tbis
House III favor OF the plan Submitted by the Exc
cuve when the resolution submitted by the ma ioritv
OF The COMMITTEE of Ways and Means came up for
action, he could move to change the form of I, hv
striking out the word "not," and saving thai ,hs
scheme should be adopted. He should like to see the
individual who was prepared 10 vote for the plnn He
therefore humby conceived that there was no ground
oi"hJeclIon TO The course which he had su gesed =
In conclusion, he coIiended that the committee had
discharged their duty and that the scheme was SO de-
lective that he could make Bohrg out Of il so as 10
give II his sanction and he sad that il the gentleman
from Massachusetts, would move TO take up his (Mr
T. 3 hh before the expiration of,wo weeks he would
vote for the motion
Mr. WISE remarked, that the result of the act;op
OF the Committee of Ways and Means was what he
anticipated and predicted 1t was ntmated by the
friends OF some measure Of finance and currency
that, to refer so much of the Presidents message "a
related to The EXchequer TO the Committee of WAYS
and Means, was to commit the lamb to the wolf
SIMPLY to be destroyed The reference to that com
mitee was not Tor them 10 adopt some other plan 10
be recommended to Congress and the country in case
that OF the Treasury should be rejected, but the re-
ference was made simply for the verdict of IN.
committee upon it. And they had reported. what,
snort glance through the preface of the resolution
mad enabled him TO discover the grounds taken NV
the committee. One of the reasons against The an n
the Secretary of the Treasury was that for the las,
ten years The money power has been in the hands of
the Federal Executive. The report SAYS thai the
money power ought not t. be there and the renor,
further contends that the Federal Executive oupbt IN
be stripped of this power The Federal Executive
recommends one plan by which itself shall be strpned
of the money power. The committee in
stead oil follow ng out their general view conclude
their reyori by saying that this plan will not do.
And here their wisdom ST pped, and there il seemed
their patriotism stopped too. And The committee saw
that no amendment could be made to the plan. 8
ho out 'hat IL was so bad II was not worthy to be re-
ported! Did the gentleman say that he could NOT re-
brai
actly the Thu TO suit the country Some wears ago
one OF two alternatives was presented-the Uni.
ted States Bank and the Sub-Treasury Now
me ENcheqner had cen presented, occupy.
lug middle ground. But the gentleman from
New York says that this will not do Could not
the gentleman from New York have given them hi,
plan OF Bank of the United States which two
years ago, could assume any Proiean shapei % .qa
asa, dn nuHus = mat was a fair construction Of
This report The Bank of the United States or no.
hing. Any thing short of or less than that was not
worthy OF name Did the gentleman watch his
words when he said that the plan could not be amend
ed Did he weigh what amendment was and
how far the power OF amendment extended ON The
part oil committee? One of tie usual forms of
amendment was 10 strike out the enacting clause and
insert a new thing. Did the gentleman say that the
)ul was so bad that, IN that form of amendment he
,ould not remedy the objection Did he pretend to
ay that, according TO parliamentary law, they might
lot strike out the entire pa of the Secretary of the
Treasury and substitute one emanang from the Com
nlttee Of Ways and Means 1t must be taken as
igure of speech much as TO say that the plan Of
he Secretary Of the Treasury so bad as not TO be
worthy of consideration. If something better could
e reported, why had not substitute been proposed
lie would like TO have an answer
MT. fILLMOBE said that a substitute for the
Ian had been reported by the friends of the EXec,-
i've, and that II before the House for consi-
eration.
Mr.. WISE remarked that the friends of the Exc
utve did not consider the plan Of the Secretary of
be treasury TO be perfect and at the last session
orted amendments. Did he understand the gentle
nan T. say that he concurred With the ant ndmenn
Il The Select Committee The gentleman shs kes
us head lie had given no answer TO his (Mr Wse's)
rst question. Did the gentleman concur in the sub
tltute. No; then not concurring with the Secretary
the Treasury and not concurring in the report of
he Select Committee, and not reporting a substitute
rom the Committee Of Ways and Means, he repeat
d the question, why has not better plan been pro-
osedi a Pause) The gentleman has got no an
wer.
Mr.. FILLMORE said he did not wish the gentle
IAN TO draw his inference
Mr.. WISE was understood to say that information
1creased as the oracle gave out.
Mr.. FILLMORE remarked that the two plans here
)iorc reported had been defeated by the Executive
Mr.. WISE. What plan The Bank With thu.
60 to the people The Bank, or nothing Thi, is
That with To arrive at The money power was 10
c left in the hands Of the Executiye-the power de-
recated by the Executive itself--and he called on
ongre's TO exercise legislative power and take from
he Executive what had been called q union OF the
urse and the sword. After some further remarks
advocacy of the amendment Of Mr.. Anterior
Mr.. GRANGER addressed the House, and, In the
curse OF his observations, he said that it was enough
,r him to say, at this time that the scheme
lonstrous long shoot of Government Bank en-
RATED on the main stalk of the Sub-Treasury. Ii
le gentleman from Virginia had seen the very
Ilt he expected in this report, he mir. Granger
AL ggpu he ggtlt la hen h, lat,
anne up, he hoped that some gentleman who believed
the plan would move 10 strike out the word "not"
this be not done, he would then take II for granted
lat no man had any confidence IL and then they
DuId vote the resolution in the form now pre-
,nted.
MIR j. r.. INGERSOLL thought that the Excbc.
ier was an experiment upon which the country was
p prepared TO pass. II was Bank to all intents