The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-04-22
TwENTY-NISTH CONGRESS,
First session.
WEDNESDAY,, April p, 1876.
In SENATE.
The journal having been read


| " THE IEDErEEpEEr TREASURY BILL.
Mr.. WEBSTER rose and said that that he saw
many inquiries touching the probable progress Of
one OF the measures before the Senate, that he de-
sired, in regard 10 that measure, to ask, very re-
specfuly question or two OF the committee who
had charge Of it, He referred the subject Of the
independent treasury BILL sometimes called the sub
treasury bill. He was no panic maker. He de-
sired to prevent pancs-to allay apprehension. The
country in general was prosperous, and in order TO
secure that prosperity, he desired as far he was
able u prevent agitation and dlsturbance Of the ma
tioDa financial affairs. He would therefore adj
dress himself TO the chairman OF the Committee on
Finance, and begged leave most resPecuuly-hopng
| that that gentlemen would not find an answer
to be inconsistent with his public dSy-to ask him
how soon it might be expected that the committee
would report on that important measured Whether
re committee had far advanced in the considera-
IiOn Of ihe bill as that he was now enabled 10 say
whether they would report with without amend
menti And il with amendments, whether he could
now indicate what those amendments weref II he
could answer these questions, II might be exceed
ngly useful TO the public. And in the third place,
he asked il the chairman Of the committee would be
so obligIng TO state at what period II was proba
BILE that that subjec would come up for consldera-
ton in the Senate. The last question was not
unimportant in itself and in general, but TO him
| (Mr. W. it was specially important az he should
have occasion soon TO be absent for few days.
| lie
power reply to the questions Of the distinguished
senator from Massachusetts, so far as the Committee
/ on Finance have had the subject under cOnsIdera-
| ton. | cannot, however, say at what time the sub
| treasury bill will be reported back 10 the Senate.
The committee have determined to give precedence,
in the action of the Senate, 10 bill reported by the
honorable senator from New York, Mr. DIX for
establishing warehousing system. This bill has
| been urged on the committee by commercial men
remedial measure IN It's tendency strongly caleu-
lated TO relieve any pressure which might otherwise
result from a precipitate sudden introduction OF
the specie clauses Of the subtreasury. In addition
to the warehousng bill, the committee propose to
precede the action the subtreasury by bills to
establish branch minis at Charleston and New
| York-measures which have also been urged from
respectable commercial sources in their tendency
calculated to facilitate the introduction OF specie pay
ments into the treasury. So far any all Of these
measures are calculated to allay apprehension in the
public mind they will receive the cordial support Of
| the committee. IL is certain, sir, that from the
very reason we have not now a sub-treasury
in operation, large amounts Of public money
have accumulated in deposite in the banks.
| This amount, not less than eleven or twelve mil
lions has become the basis Of much larger paper
| circulation, while the reception OF paper money, IN
the dues OF the government has, in addition TO other
causes, considerably expanded the aggregate circu-
laton Of this country-so much so, as 10 create an
adverse state foreign exchanges; and at a time,
too when the monetary condition Of England is
far from being settled and easy. Under these cir
cumstances, the committee, while a maj orty OF
them are in every way favorable TO what they be-
Iicve the only constitutional mode Of collecting, de.
posting, and disbursing, what they believe To be
the only currency known to the constitution, are
most anxious that this change shall be effected in
a manner to produce as little pressure as possible on
the commercial community. To prepare for this
suit and TO avoid any consequences from the too sud
den introduction Of the sub treasury, we have, after
l. Al -
that the specie clauses SHALL in no event. be reported
to go into effect than the lst Of January next
So far as this course on the part ofthe committee
is calculated to allay Apprehension, am happy IL
being able to furnish the honorable gentleman tn,
information he asks.
i PETITIONS.
) Mr. CAMERON presented the proceedings of
meeting Of citizens Of Philadelphia in favor OF the
establishment Of a national foundry at Port Rich
mond, in the county Of Philadelphia, Pennsylvania
which was referred to the Committee on Military
Affairs.
Mr.. C. also presented the petition of members o
the House of Representatives Of the Common
wealth of Pennsylvania, praying that the duties or
imported boots and shoes may not be reduced
which was referred to the Committee on Finance
PILOT LAWS.
Mr. G.. further presented a memorial Of ship
owners, ship-masters, and other citizens Of Phla
depha, demonstrating against the repeal of the pi
!,
tee on Commerce.
Mr. ATCHLSON presented the petition of Cit
zens Of Savannah, Missouri, praying an alteration
of the mailroute from Savannah to Liberty, in tina
State; which referred to the Committee tn,
Post Office and Post Roads.
BRANCH UNITED STATES MINT
| Mr.. SPEIGHT, from the Committee on Finance
reported bill to establish branch United States
mint in the city of Charleston; which was read, ant
passed to the second reading.
Mr.. JOHNSON of Louisiana, from the Commit
tee on Pensions, submitted an adverse report upor
the petition of Charles Larrabee; which report was
ordered to be printed.
Mr.. DICKINSON, from the Committee o
Claims, reported bill for the relief of Ray Temp
kns and other children, and heirs of the late DAME
D. Tompkins; which read, and passed to thu
second reading.
PUBLIC LANDS.
Mr.. BREESE, from the Committee on Publ
Lands reported bill to authorize the sale of
tain reserved lands in the st. Helena land district
in the State of Alabama; which read and passe,
to the second reading. The report accompanying
the bill ordered to be printed
| Mr.. PEARCE, from the Committee on Pensions
to whom was referred the subject of amending tn
act Of June 49, lS40 in relation to granting pen
sions, submitted report in writing; which was or
dered to be printed.
Mr. DIX. from the Committee on Commerce, re
ported without amendment, the bill for the relief o
Charles w. Bingley, OF Charleston, South Carroll
ma.
Mr.. d. submitted few remarks in explanation
Of the bill, from which it appears that Mr. Bingle!
purchased foreign barque wrecked on the coast o
the United States, and sold for the benefit Of tn
underwriters; and having been informed by high au
thority that he could, under the circumstances Of tn
case, register the barque when repaired an Amer
, lean vessel he expended n sum about equal to tn
general value of vessels of the class in repair
ing the barque. Finding subsequently that he cou
not obtain the registry Of his vessel, he now ask
the passage by Congress Of an act to enable him 81
to do. The committee considered the Of tn
petitioner worthy of attention, and cited prece
dent for the passage of the bill.
Mr.. ID. having concluded his explanation, movet
that the prior orders be postponed and that the bill
in question be considered; which motion was agreed
TO-
The bill was then considered as in committee o
the whole, and after the adoption Of unimportan
amendment, submitted by Mr.. DIX, it reportet
, to the Senate, and the amendment concurred in
and ordered to be engrossed, and the bill to be reaC