The Madisonian. [volume], September 23, 1837, Image 4

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connection between Bank and State?and to
enable thb government to keep in its own
hands it* own means of existence, will cer
tainly be a relief to one of the parties, if not
both. These bills have been reported by the
Finance Committee, and will enable the coun
try to judge how far thsy are obnoxious to
the charge of reporting nothing for relief, and
nothing of any value. They are six in num
ber?of great value and emcacy in my esti
mation?and they" comprise all the subjects
on which that committee were expected to
produce any thing for the action of the
Senate.
There is another bill which may come from
another Committee, the Judiciary, and which
I shall rejoice to see couie from it?a bill
of moet potential and universal relief to the
whole country! to relieve lis from a most cry
ing imposition, which now afflicts snd op
presses every thing in our America, from the
Federal and State Governments, and their
elevated functionaries, down to the tub of the
washerwoman and the cart of the drayman.
It is the bill to apply the penalties of bank
ruptcy to their ancient, original, appropriate,
and primitive subject, and the one from which
the law itself takes its name. Broken bank,
bamcus and mptus, is the Roman designation
of the law. Broken banks, and not broken
merchants, broken tailors, broken lawyers,
and b roken farmers, were the ROtnan, the
Grecian, the Asiatic, and the Egyptian sub
jects of this Isw. The English sad other
moderns, have diverted it to humbler game ;
and President Van Buren is the first in the
list of Executive magistrates to propose to re
store it to. its original and moat appropriate
subjects. I shall rejoice to sec that bill come
in. It will be tidings of fortlu oining relief to
an afflicted and prostrate empire., It will fix
the day for the general resumption of specie
payments, and will furnish a rule, and pro
vide an engine, for separating the solvent from
the insolvent, " promises to pay."
That bill has been denounced in advance
upon the floor, and war to the knife has been
declared against it. The assault has even as
sumed the character of a combined movement
against the nervous system of the friends of
the measure. It seems as if they would ter
rify us. I have not communed with others
to learn how they stand the shock of this pre
cocious assault; but for one, my nerves
remain unaffected, and my feet do not feel as
if they had meditated flight, and intended to
bear off my body from the perils of the com
ing conflict.
That bill has been denounced in an unusual,
unexpected and precipitate manner. I do not
return the denunciation, nor do I now under
take its defence, by obliquing into an argu
ment foreign to the question before the Se
nate i but I am free to declare myself friend
ly to the measure, and ready to support it as
soon as it is brought forward. 1 am not de
terred by the imposing apparition of sovereign
States, engaged in (he trade, or associated in
the business, of banking. My own State,
even Missouri, has embarked in the perils and
mysteries of this trade. She has chartered a
moneyed corporation, and gone into partner
ship with it; and if ever that concern shall
dishonor its "promises to pay" I, for one, shall
be ready to apply the penalties of bankruptcy
to the whole establishment, and shall make
no discrimination between the effects of indi
vidual stockholders, and the effects of the State
embarked in the partnership.
I say this, not in defiance, but in candor, in
sincerity, and in openness of heart. I am for
the uicxisuie, and avow it in my place here ;
and if the consequences of this avowal should
be what some seem to think, an extinction of
political existence, and a perpetual exclusion
from the purlieus of this ten miles square,
I stand here now ready to do the deed, and to
pay the forfeit, to vote for the bill without fal
tering, and to march from this Capitol, with
out looking back.
From (Ae A'ne York Daily New*.
UNITED WE STAND, &c.
It is truly painful to see the divisions which
now exist in the Democratic party in this
city. Unless measures are speedily taken to
heal them, we shall most assuredly be de
feated in the November election. We have
at least a majority of some four or five thou
sand democratic votes in this city, and yet,
rwing to our unhallowed divisions, we shall
be beaten by a minority vote. And what ren
ders it more aggravating, those who should
come forward as counsellors and healers of
the divisions, are pursuing a course which is
calculated to make the breach wider, and thus
render the opposing parties more hostile to
each other than formerly. They brand each
other with opprobrious epithets, and are doing
all in their power to render each other ridicu
lous and contemptible, while the aristocracy
are using their utmost endeavors to keep up
the divisions, knowing that this is the way for
them to succeed in their efforts against us.
We contend that something should be done
to settle these differences immediately, and
we sincerely hope that the temperate and dis
creet of the several divisions will meet and
agree upon some common principles of union,
which will be acceptable to the whole de
mocracy of this city. I n order to do this, we
must " give and take no one should obsti
nately persist in his own peculiar views, or
insist that he is right, and every body else
wrong. Let us not be wedded to any par
ticular men or set of measures. The broad
ground of democracy is ample enough to en
close all the friends of the administration, of
evory name. Why then shall we contend for
a mere name or a simple form, and exclude
every man from our fellowship, who will not
pronounce our Shibboleth. There are good
men and true who differ from some of the
measures recommended by the President, who
have no desire either to rule or ruin the de
mocratic party. Why should they be de
nounced as " bank democrats, traitors and
enemies to the party ?" There are others
that embrace it in all its parts, and are deter
mined to sustain it; why should they be de
nounced as " loco focos, levellers, and agra
rians ?n There is no reason in this; it is all
wrong, very wrong, and should be frowned
upon by every genuine democrat.
The great battle is to be fought again be
tween the aristocracy and the democracy ; all
in favor of the principles ami moasures of the
former will unite heartily and cordially in their
support, and will sacrifice every minor con
sideration to accomplish their object; and
shall we suffer our strength to be frittered
away, and our party scattered to the winds,
merely to gratify some personal dislikes, or
from a wish to gratify our hostility to certain
unimportant measures ? We cannot, we will
not believe, that this course will be pursued
by the friends of the cause at this important
crisis.
prim tk$ JfifAin?rf
VIEWS AT W^fHINOTON.
We understand, thatfome pf the#ro?f*st
friends of the administration, in tho House
of Representatives, are decided against any
such important innovation as th?^ Sub-trea
sury apecie system, at this time. Fhey con
sider now as the very worat time for digest
ing or introducing it. One of the members
expresses his preference for the long estab
lished system, under which the Stale Banks
have been employed aa Vhe depositories of the
Government, over the new, untried, and, un
der present circumstances, mischievous pro
ject of a Sub-treasury scheme. He states,
that this connection was made by the fathers
of the Political Church; that it has so long
produced security, economy, and simplicity
and how can tho Republicans prudently dis
solve it, at a moment of panic, commercial
dismay, and national embarrassment ? An
other says, that he is not prepared to con
demn the Sub-treasury system in the abstract,
though he does not see why, if the revenues
be ever collected in gold and silver, a special
deposite in tho banks could not answer the
same purpose, for a very small commission,
much more completely than an independent
Government Institution?that what he would
dread the most would be, that this plan would
grow into a great political, National Bank,
worse tb?" the late commercial institution?
that this, however, is not the time to discuss
its merits?that we must go on to help the
banks out of the slough into which they have
fallen?for, to kelp them is to help the people ?
A third says, that whether it would or would
not be wise, at a different time, when the bu
siness of the country is again restored to its
accustomed channels, and the currency sound
and healthful, for the Government to devise a
| machinery by which it should be the keeper
anddisburser of its own cash, is a proposition
then to be entertained, if you will. But in
the present exigency, it does not appear wise
to press the question upon Congress and the
country, to he decided on and adopted in the
hurry of a special session, and in the midst of
divided councils. That it is beat to leave the
main subject of the currency, and the custody
and disbursement of the revenue to be adjust
ed hereafter and upon great deliberation, pro
Vidinff, in the mean time, by temporary l^gis
lation, for the safety of the public money;
and that from present indications, he is dis
posed to think this course will be giyen to
the subject by Congress. *
We are happy to discover, however, that
whatever divisions may be among the friends
of the administration as to the best alternative
to be pursued, they are determined to " bear
and forbear"?to carry out the discussion in
a courteous and conciliatory spirit?and what
ever measure be finally adopted, act on the
President's maxim, submit with the best
grace, " give to it a fair trial, and the best
prospect of success." We must practice mo
deration, and keep our ranks united against
the common enemy ; the Whigs and the Na
tional Bank. No man is better calculated to
exhibit an example of good temper and liberal
feeling, which it becomes us all to imitate,
than Mr. Van Buren himself. For one, we
hail with sincere satisfaction,,, the sentiments
which an enlightened correspondent of the
N. Y- Evening Post ascribes to him?that
although we have differed from him, his con
fidence and respect remain th? same?that
" error of opinion may be tolerate!, where
reason is leu free to combat it"?and that it
has been often his lot to differ with his best
friends. We cordially reciprocate the noble
sentiment.
From the Uliea(N. Y.) Obtervtr.
We are glad to see that the Albany Argus
is frank and explicit in disavowing all con
nection and fraternity with the loco-foco inte
rest, and denounces that band of destructives
in round and just terms. The editor says:
" We ire not conscious of having entertained or ut
tered the views or opiniona of that faction in a single in
stance, or in any manner."
Upon the President's Message the Argus
makes these remarks :
"The Message of Mr. Van Buren ia assailed by a
concerted movement of the whig* as locd-foco."
?? II is obviously a part of the game of tie opposition
to inaist that the message is loco-foco. They hojie to
alarm the public mind, and to seize upon fny prevalent
apprehenaion for their political advantage. It is natu
ral, aa a party expedient, and especially with a party of
expedients, Ihit (tey should insist that ihe President, tlio
Message, and the friends of the Executive, were loco
foco ; and that it was their design to prostrate the banks,
and to erect m their atead the impracticable scheme of
an exclusive metallic currency."
Again?
" In relation to the great questions which msy be sup
posed to claim the attention of Congress, the message
stsnds upon the old democratic ground?assuming and
maintaining principles co-eval with the foundation of
the Government and by a right construction of its pow
ers and duties, but by no means sssailing the Mate insti
tutions, nor subscribing to tho ultra and dangerous senti
ments that would strike theiu out of existence."
These are sound principles, put forth in
decided and unqualified terms : the democra
tic party can stand upon them. We are most
happy to seem them thus put forth by the able
editor if the State paper.
No one we trust, desires to see banks, their ^
creation or their support, made a test of demo
cratic principles ;?and on the other hand, we
trust no sincere Democrat wishes to see
their obstruction made such a test. We
also hope and trust that no Domocrat is yet
mad enough to believe, or base enough to pre
tend without such belief, that the interest of
the country, or any part of it?the interest of
the entire population or any part of it?of any
or every class or description of persons?
would be promoted by the destruction oi ex
isting institutions and the annihilation of all
paper currency. The Democratic party is
not a bank party, nor is it a party arrayed
against and intent on destroying all banks
and all bank currency. Such a scheme may
prove a man mad, but would very little prove
him to be a republican of the Jefferson school
or any other school.
The condition of the country is deplorable
enough, but is it to be improved by an annihi
lation of four-fifths of the currency ? How
would debts in such case be paid ? What
prices could property command in such a state
of things ? It may be fashionable to rail
against debtors as outlaws who have forfeited
all rights ; but can a sober community desire
to see a crusade of extermination got up
against debtors, and their property sacrificed
at nominal prices, to pay their debts ? 1 he
loco-fucos strike at all banks?at all currency,
except the pure metals ; thus carrying down
all debtors in irretrievable ruin. What good
object would be effected by such a course ?
The poor would bo where they now are ? tl?e
middle class, the business interest?always
more or less in debt, though generally with
ample property to pay at any thing like the
usual prices : tbey would be the sufferers?
would be absolutely overwhelmed ; and the
already overgrown rich?those who have
hoarded treasures?they alone would profit
&eir of. prices. We ?re ??t>?pared *
see that claee?the businesa interest of the
country?sacrificed to appease the spirit of
loco-focoutm, or to add to the overgrown and
useless wealth of the hoarding miserno,
we are not prepared, to come to that result,
though it may be put forth in the name of
" Jefferson and his cotemporariea." We de
sire to see the republican press standing out
in firm array against auch an assault and auch
folly and injustice ; snd it is with great plea
sure that we now recognize the Argus as dis
tinctly in that position.
TWENTY-FIFTH COKORE88,
I EXTRA SESSION.. ___
UNITED STATES SENATE.
TnssDtT, September II.
Mr MKEAN presented memonsls from ^J?"*
?f Philadelphia, remonstrating against the annexation
^ Mr^MORRIS presented similsr petitions from Ohio,
noiiw wis.
Mr WRIGHT, from the Committee on Fins nee, re
ported s bill msking sdditionsl sppro^stionsfor the
of Indisn hoetilitiee, wh?b was read, snd
ordered to s second reading ....
[This bill appropriated l,?00,000 dollsra ]
Mr WRIGHT^froin tbs asine Comiaittee. msds sn
unfavorable report oo the pstitiona u? fovor of s BsnTof
the United Statca.
TBBASUSY STSTtM.
The Sensto proceeded to consider the bill imposing
additions! duties ss depositoriss on certsm public
?^r%MITH of Indisi*, ssoks St some length is
opposition to the amendment of the Se",lorJ^,nf
Carolina snd slao against the bill. He took s brier
view of the meaaurca which hsd been submitted to Con
ureas snd the reaaona which hsd induced him to vols
fa he'hsd dons. He aisled that this contest wss mere
ly between the government snd ibe merchants?it was
out oppressing tbe snlire people^ He
to .how tbst the argument foond^ on tbe ^? iha ihe
government hsa no power to regulate the currency u an
after thought; becsuse it hsd been slwsys contended
bv Mr VaB Buren snd General Jsckson, snd their
friends; up to this moment, that the government pos
aeaaea that power, snd exercises it through
agents. For ths purpose of csrrying through the Di
vorce bill, however, it wss found convemeut tflurepu
diste that doctrine Whstever csuaes others might find
for this crisis, snd he knew that aomeiimes gentlemen
by their meUphysicsl ingenuity, slmost insde their own
Jose. disbelieve what wss sppsrent on
could find no other cause, in the first plsce, thsn the re
S to rechsrter the U. S. Bsnk and the removal of
the depoaites to other banks Sueh he believed to be
the opinion of the people in his stste^
of the removal of the depoeites, thepet bsnks msde
over-issues, which led to the overtrading to which the
Executive sttributes the distress. fbe specie circular
performed iu part- in the production of the present
distress. He did not impugn the motives of tho?e who
proposed snd earned through theae meawrea buthe ^
lieved they were miataken in theur policy. He believed
the wsr sgainst the Bsnk of the United Sutes, hsd been
more injurious to the country th?? theFloruU warHe
complimented the United States Bsnk on he manner
in which it conducted the fiecsl sflsirs of the govern
ment, so beneficisl to the government snd the country.
He diaaected the treasury scheme, snd saidit
crease the number of government dependence to sn army
enough to subaue Oseola. U would tske ninety
thoussnd dollara to put the machinery in operation, and
the tendency of it would b? to induce the people to cut
looae from tho government. The disposition displsyed
by the government to cut loose from the peopl*.1
regulation of the exchanges, would, he believed, lead the
people to separate themselves from the government,
liy the bribery of the gold end silver currency, the go
vernment would surround itself with s bend of officers,
but it would be separated from the people. Ho con
tended that the country was not prepsred to go into a
gold snd ailver curren/y, becsuse there ? no 'Pecje
enough in the country to nay one helf of is ?bU, snd
if the creditor poshes his debtor to the wall, thsproaent
distress would l>? redoubled. Hs wss opposes to the
amendment of the senstor from South Car0'lM>^
amendment of the senstor from M'?*ouri. he reg.>^d
a. monatrous, and it. effect would be to p?JeU
of the irovarnmeht officers with gold, snd giving s silver
u? ?~?t.
either of these projects, ss well ss thst of Mr. Kives,
and he believed the result wouldlKsto^ng thecoun
try to aay with the Prea.dent of the United Ststes?all
theae temporising meesows hsve signsHy fsiUed.
Mr STRANGE followed. Hs admitted thst the
country wss in a disturbed condition ; snd this condi
tion hsd been referred by some to s tsmpenng ""ti the
currency, or ss some hss said, s tinkering with the cur
rency He did not sdmit that any of the messuree of
the Government had produced the evil; but that on the
conusrv, their influence hsd been of a sofiemng and me
liomtirur character. He did admit, however, that some
oflhew measures had, in conjunction with other C*u*e*
produced harm in the coontry. The conrsc of
pursued by the Bank of England lud
Hd commercial trsnssctions in this country. He went
iuto s history of this csuse.
He assigned his objections to sn U. S. Bank ss s re
medy, bccause he believed public opinion to be against
rS also because the Executive stand* P>^K<d'?
v;,osny bill looking to J^ft^
atitutional and inexpedient He was opposed to ine pro
ject of the gentleman from Virginia; snd
if it ahould> carried, a shout of i!"Mn,Pj.*ou^ ^
from the marble palace of Philadelphia. 1 he local
bank system hsd been tried in the briance and found
wanting. Much of the diatreaa is aUributable to the
failure of the Deposite Bsnks to meet their solemn en
gagements Ho waa astonished thst any
assert thst there had been no fsilure of this scheme. It
had signally failed. The objections to s Bsnk of the
United Ststes, snd to the Sutes Bank S?to?<
answerable. The project which requires the present
consideration of the Senate, was the onlyoncfreefrom
obiection It hsd vet to receive the sanction of the pto
sanction Tho Chief Magiatrate had given to it his
countenance. It would introduce gold and
most indestructible currency. _ The Gwcnmient J
have it under control, and can have it when and "here
vou please. It ia a more simple than any other scheme,
and such as the wayfaring man, though he runs may
read. Hs read extracts from s letter by Mr.
to sustain his views. In reference to the danger of the
new syatcm, from the diahoneaty of officeis, he ssid the
C way to mske men honest, was to make it their in
terest to be honest. The mode in which accounts sre
examined in settlement with the Govern^nt. m.de
fraud difficult, snd the long concealment of it iinpos
ble. I<et is be once established that banks sre necessa
ry snd you will bring the public mind to s conviction
IL an U S. Bank fs neceaaary. The apprehenaion
that this bill would tend to a grost accumulation "'Ex
ecutive patronage, he regarded sa sbaurd. Ho believed
thst where the Executive msy thus mske ont frisnd,
there would be s probab.hty that he would lose ten. He
admitted thst there was alwaya a danger or a strong
Executive ; but under the guards and checks imposed
by the Constitution, this danger would never become of
great magnitude. The money would not be within the
reach of the Executive moro than it is now. He went
into great length in calculating and descanting the bene
fits of the new svstem.
The Senate sdjourncd. "
HOUSE OF REPRESENTATIVES.
Thursday, Sept. 21st.
Petitions having been called,
Mr. EW1NG presented the memorial of 161 ciuacns
of Mount Vernon and it* vicinity, Posey county.
ana, praying the estsblishment of s spocie-paymg Wa
tionai Bank, and aJted peruiiaa,on to .eco.-jp-nv ? .?
presentation with s few remark* ; which the rules ol tlw
House prohibited.
Mr HOWARD, of Maryland presented the petit wss
of the executors of Joseph Mu.si. deceased, and of the
lecal representatives of Joseph Borden dsceased, to
gether with those of nine hundred snd hfty-*ix petition
er., now on file in the House .praying that eompen"?
tion may be accorded to .hem for property taken for ths
acrvicc of tho United Ststes, in tho ye.r 1800.
A lanre number of memorials remonstrating against
the annexation of Texas to the Union, wero preaonted
as on former dsys. especislly from the Ststes of Ms**a
chusctts snd New York.
HANKSOrT LA**
Mr THOMAS, chaimisn of the Committee on the
Judicisry, slated /or the information of the House, that
the Committee on the Judiciary had adopted ?
tnm, thst it is inexpedient to report s bsnkrupt Isw st
the special session of Congress
INQITISY in SBtATIOM TO THB fUOSlOA WA?.
The House then proceeded to the unfinished business
?t?? Aiming which ww Iki Mnaideration of
d? f"llo??ng resolution, aubiuittod by IfrWiec ou iba
Mttvbm, That ? aelect comffltfko fc?t appointed by?<
ballot to inquire uito I bo causa of ibe Florida war, and
into the causes of tbo extraordinary failures, and iho
enonnoua expenditures which bava attended the proae
cuiioB of U?t war, and into tiio manner of its conduct,
and the facta of ita history generally; that the aaid
committee baijf power to aeod for (MMraona and pajpora;
and that it have power to ait in tb? recess ; and that it
tuake report at the next aoaaion of Congrea*.
Mr. GLASCOCK roao and slated, that he did not
desire to uke op the time of the Houao at tbo preaent
aeasion, which waa called for another purpose, in dl?
cuaaing Una reaolution, a* tbero would lie a time hereaf
ter more appropriate for doing ao. Mr. O. then moved
to amend the reaolution by atriking out all after the
word " Keaolved," and inverting the following:
"That a aelect committee be appomtod to inquire
into the cawaac of tbo florid* war, and cauaoa of
lha/stnoniinary delay* and fiulurea, and tbo expendi
turea which have attended the prosecution of the aamo,
and all the facta connected with ita history generally ;
and that aaid committee have power to aend for peraona
and paper* "
Mr HOWARD, of Maryland, moved to amend the
uneudmeut, by atnking out " a aelect committee," and
inaert ' the Committee oo Military Aflieir* be instructed
the effect of which would merely be to transfer the duty
of iaveatigatkm from a aelect to a standing committee
of tho Houae. Mr H. aaid that hia opinion had been
more than once expreaaed; that, as ? general rule, it
was proper to tpfer all matter* which might come before
them to some atanding committee, whenever the aub
ject was within the range of the duty which the roles
of the Houao enjoined upon that committee to per
form.
Mr. MUHf JENBERG aaid, when thit reaolution was
under discussion yesterday, some remsrks wera made
by the gentleman from Virginia on my lad, (Mr. Wia*,)
which lie regretted to hear, becauae be thought they
were in bad taste, and reflected but little credit either
upon the hp ad or the Heart of that gentleman.
The attack made upon an abaeot gentleman, unable
to defend himeelf, wes certainly, to tay the leaat of it,
neither juat nor generous It reflect* no credit upon any
man to inault a fallen foe, or to atrike and dirk hiin
when unalde to reeiat. In thia light I Must view the
attack made upon the absent gentleman from Rhode
Island. If that gentleman had been present, there would
be no cause for complaint, for he is smply competent to
defend and take care of himaelf. He would have given
the gentleman from Virginia a Rowland for his Oliver;
measure for measure, in every species of attack.
But, air, I have not risnn to reproach the gentleman
from Virginia. The goodness of bean with which I
know that gentleman to be largely endowed, bas no
doubt, before now, ioduced him to regret the hasty and
uncalled-for remarks made yesterday. I have risen to
correct some misspprehension into which be has fallen.
He stated that the clerk of the Committee of luveeliga
lion alludod to, had feigned aickneae, in order to gain
tune for drawing up a report. Sir, the clerk waa tAen
ill shortly after the committee had been organized, and
before it had made much progress in its labors; long
before a report was thought of, aa no one could then aay
what would be the reault of the inveatigationa going on.
The testimony of the attending phyaician, and the evi
dent marka of disease remaining after that person's re
turn to the committee, might have satisfied the gentle
man from Virginia that the disiaae waa real, and not
feigned. At all events, it could not havo been feigned
for the purpose atated, becauae there were at that tune
no materials for a report.
Wben?the proj>er time for making a report bad ar
rived, the majority of the Committee directed Mr.
Paxaca, being the firet named of the majority on that
Committee, to draw up a report for their conaidentiou;
and I believe each member of that majority furnished
him with his own peculiar views on the subject I know
positively that this waa done by myaelf and otbera. The
gentleman from Virginia pressed so much and so inces
santly for a report from the majority, that it waa aub
mitted to the whole committee before the majority had
h*d an^ opportunity of hearing it read, and jwaaing an
opinion thereon. When read in Coimhittoa, I am free
to confeaa I heard it with no little surprise and regret.
I immediately, with a majority of the friend* of the ad
ministration on the Committee, proteated against ita
adoption, and insiated upon ita being amended. It waa
accordingly returned to Mr. Piabcb, to be so changed
aa to meet the viewa then expressed. When again pre
aented to the Committee, it met with the approbation of
the majority, and no complainta were heard from the
minority.
Doea the gentleman from Virginia recollect that hia
own report met with a fate aimdar to that of the majori
ty; that all hia colleagues of the minority refuaed to aign
Aa to tho bitter experience of g..?t.i...
from Virginia coinplaina of having fed on the atocked
committeea of investigation, aa ne is pleased to call
them, I have but little to say. Thia I will, however,
aay: that I never before heard him complain of the con
duct of that committee, of which be waa the chairman ;
certainly auch complainta were never uttered during ita
aittings. When the committee waa about to close ita
labora, a vote of thanka to the chairman waa unanimous
ly passed ; and the tear which atood in his eye when he
made his acknowledgments, and the apparent good feel
ings with which the committee finally separated, would
seem to tell a different tale.
I regret, that before the gentleman from Virginia had
yesterday concluded'hia remarks, the order* of the day
were called, and lhat I wu thus prevented from making
tliia atatement immediately. It would not have been
made, if, as a member of the committee apoken of, I had
not been called upon for it.
Mr. WISE slid ho waa happy, extremely happy, that
the gentleman from Pennaylvania had had time to alcep
after the remarka he had heard on yeaterday, and pre
pare himself with proper words for the occasion. He
was glad that tho gentleman waa not called npou on
yeaterday, when he waa unprepared to meet the atate
ment which he (Mr. W.) bad made. But did the gen
tleman contradict the atatement he had made on yeater
day, in the important particular in relation to the clerk
of that committee writing the report! He inquired of
the gentleman from Pennsylvania whether ho put pen
on paper in writing that report? The gentleman may
have furnished Dutec J. Pearce with notea, but Pcarce
turned them over to Hallett, and Hallett wrote the re
port.
Mr. MUHLENBERG said that thia was a matter
between the gentleman from Virviria and Mr. Pearce,
He (Mr. M.) preaumed lhat Ma Pearce wrote the re
port.
Mr. WISE. The gentleman pieaumed that Pearce
wrote the report Now, he repeated what he said on
yesterday, and called upon the gentleman from Massa
chuaetta (Governor Lincoln) to aay whether Dutee J.
Pearce had not admitted in preaence of Col. Campbell
and himaelf that Hallett had drawn up the report, and
that the notea were furniahed him by Abijah Mann and
Mr. Pearce himself? \
Mr. LINCOLN atated that Mr. Pcarce had admitted, in
a personal conversation, tljal he was not tho author of the
report; and more than this, that, upon reflection, he dis
approved of ita language. He would stale further, that he
believed whatever had occurred of an unpleasant charac
ter in lhat committee, was in consequence of the unfriend
ly disposition of the clerk of the committee, and the im
pertinent, officious, and irritating course puraued by him
and by persons out of the committee in connection with
him. He was bound, however, in candor, to say, that
when a majority of the committee aacerlained the lan
guage in which that report was drawn up, it waa as
severely reprobated by them as by the member* of
minority.
Mr. WISE hoped that the statement which he had
made was so fully corroborated, as to make it perfectly
satiafactory to every gentleman who heard him. He
would leave it to the tfouse, to every gentleman in tho
House, and to every person in the couutry, whether lie
was to be reproved for telling a truth ; for ttaling lhat
which must be looked upon by every pcraon aa true, and
which was not flonied by the gentleman from Pennsyl
vania himself; and he had slated this truth upon the au
thority of D. J. Pearce himself. If it waa offensive to the
character of Dntee J. Pearce, he himaelf was the author
of it. He (Pearce) was the authority he had for ataling
that Hallett, the clerk of the committee, wrote the re
port of tho majority. He liegged leave to aay to the
gentleman from Pennsylvania, that he entertained (he
highest respect for his heart. He had the greatest re
sect for the gentleman's good heart; but he must say
to bun, that if ever he was pot upon another committee
of investigation and did not discharge hia duties on that
committee somewhat differently, and a little better than
he did last winter, and take particular care that the re
port he is called upon to sign la hi* own, or that it con
tains his sentiments, he could not entertain any very
great respect for his Head
Mr. \\ ISE went ou to give a minute account of the
transactions in the House in relation to the majority re
port. The majority, he aaid, determined that they
would read it through, and mark the objectionable pas
sages, and then take up the question whether it was in
order to strike any |>oriion of it out Col. Campbell
then took p/<n in hand, while Alnjali Mann read the re
jiort, and took note* of the offensive part* until he filled
fiearlv half * page when they came to a whole paragraph,
which waa of the mow offensive chsracler. Mr. Cainp
liell said "draw a line round that, mark it, expunge it,"
?nd he immediately roae from hi* seat, and slap|>ed hi*
UM 10 Mr Mun : "pir, I warn you thai the wan who
d*fV? ,,,r!"?,lhMt ?r?,,,,, lo ^?uu". 6??1 ?? ? ?
With falsehoods and 1mm, I will bold responsible u> ma
personally ; and if ba don't bold himself responsible, I
will chastise him." He then locked the door of the
committee room, put the key in bia pocket. aad swore
that not an individual ahould leave that room until those
infamous falsehoods were e*p?wged.
He wowld do lite gentleman Irooi Pen nay I van te the
justice to eat, that when the report waa read be rose and
aaid to Mr. Pearce that he did not believe tbe report to
be the truth, hut that it waa filled with falsehood Tbe
minority of the committee then retired?the majority
having determined to suike out the offensive parts?
leaving them to pureue their labor of espuugu.g Uioae
portmpe, and then Haliett had tbe insolence to com
plain that tbey bed atruck out the only perts which gave
it potni.
He modified his resolution by atriking out the worda
" erroneous" and " extravagant," because*they aeemed
to imply ceneure in advance He objected to the pro
poaiumsof the gentleman from" Md., (Mr. Howard) to
Mmmtt the mveatigation to the Committee on Military
Affaire, becauee that Committee , out of nine member*,
bad but one opponent of the adminietmtion.
I *PPe*'10 'I* gentleman, aaid Mr. Wiee, not to seek
to stifle investigation. I should indeed suppose that the
administration nad been Uught, by this time, not to re
sist tbe calls of the people fur light. All I ask in jaatice
to the administration, to the opposition, to the President,
and the army, is lioht.
After 'some remarks from Mr. GLASCOCK in sup
port of his amendment,
Tbe House took up the orders of the day.
MSTPOWCHENT Of TH DEPOSITKS.
The House again went into Committee of the Wbole
on the State of tbe Union, (Mr. HA YNES, of Georgia,
in the Cbsir ;) and the House wss addressed at length
by Mr. IiX>MlS, of Ohio, in opposition to the bill, and
by Mr. JONES, of Virginia, in its favor.
After Mr. JONES concluded, the Committee were
snceesaively addressed bv Messrs ATHERTON, ?f
New Hampshire, FOSTER, of N. York, and BKIGGS,
of Msssschusetts. at length ; and then, on motion of
Mr. MERClCIl, who intimated hia intention of speak
lug upon tbe bill before the committee, the committee
rose snd reported progress.
The SPEAKER laid before the House a report of
the Commanding Gftseral, in anewer to a resolution of
the Houae of Representatives of tbe 18th inat., relative
to tbe number of Indians employed in tbe military ser
vice of the United Statee since the commencement of
the present Seminole war, aad copies of sll orders snd
instructions under which satj Indians have been em
ployed, Ac.
I he SPEAKER laid before the House a report in
obedience to a resolution of the SOth mat., requiring the
amount of duties unpaid which accrued before the end
of tbe first half of the present year, a?d when payable ;
If the amount then due from the Bank of the United
tatea, and when payable ; of the data on which the ac
cruing revenues for tbe laat half of tbe past year were
founded.
The Houae adjourned.
SENATE.
Fbiday, Sept. 83.
Mr. DAVIS presented a great number of petitione
from Massachusetts, remonstrating against the annexa
tion of Texas to the Union, and two similar memorials
from Connecticut, which were laid on tbe table.
The Senate proceeded to the consideration of the
bill imposing additional duties as depositories of pubbc
revenue, on certsin officers.
Mr. TALLMADGE rose, and expreeaed his viewa
on tbe practical operation of thia bill. He felt himaelf
called upon to give to thia bill, the moat reapectful con
sideration, both' on personal and political grounds.?
There bsd always existed the kindest feelings between
tbe Executive and himself.?Natives of tbe same State?
of the same town?their aaeociation had been alwaya
the most intiinste. Yet he hsd been unable to bring hia
mind to the support of the Sub-Treasury ayatein, which
he looked upon aa fraught with the greatest evils to the
country. This was not a new meaaure ; it bad been
brought forward and scouted by the frienda of tbe ad
miniairation ; and be knew of nothing which had oc
curred to justify s change of aentiment. Tbe system
of Sute Banks had been pronounced by the party, from
Gen. Jsckaon down to the lowest member, as fully able
to regulate tbe exchangeaof tbe country, snd to perform
the fiacal duties of the government; and from the Ex
ecutive reports it waa obvious that they had fulfilled the
expcctationa of tbe Preaident, It waa now aaid that j
the ?atem had failed. But why had it failed. It had
fcl1? of the occurrence of a state ?f
things the moat, extraordinary in ita character, and
scarcely likely to occur again. He considera the war
fare which had been waged againat the pet banka, as I
having ahaken the confidence of the people in thein ;
and the apecie Circular proved that the confidence of
the government also waa withdrawn from them. He
did not look to the rescinding tlys Circular aa a panacea
for all the evils we were Buffering ; but he considered
it as one of the items necessary to the restoration
of public confidence; and if the legialstive will bad
prevailed, the present evils might hsve been in a
greet meaaure prevented. The mercantile intcreats
of New York believed that the Preaident would have
rescinded that order. They were so strong in this con
fidence, that they were ready to exclaim,
" Now ia the winter of our diacontent,
Made glorious summer by this son of Yoik."
But this confidence was destroyed by the course, which
for reasons, doubtless, sstiafsctory to himself, the Presi
dent thought it proper for thein to pursue. He adverted
to the effort made by the State' of New York to sustain
the public confidence in the State Banks: and if the
Specie Circular hsd been rescinded, tbe suspension of
specie payments would bsve been prevented. But as
soon as it was perceived that runs were made on these
Banks, the depositora became alarmed, and the Banks,
with the approbation of tbe whole people of the city and
state of New York, suspended specie psyments. He
contended, therefore, thst the experiment hsd not yet
failed ; but thst the Banka, which bsd efficiently per
formed the duties entrusted to them, Itcfore tbe late
changea, were cspable of ao discharging them sgain.
He remarked on the different position which the coun
try would have occupied, if the Deposite Bill had paased
in a form to have placed tbe surplus in the handa of tbe
States, taken the Stale certificates and brought them
into market in a moment like the present. We might
thus hsve commanded aome 27 millions, inatead of hav
ing an exhausted Treasury. Gentlemen aay this expo- %
riment has failed, and therefore there must lie a divorce
of hank and state ; a catch phraae, calculated to be popu
lar for a time. But wise statesmen and politicans would
look deeper before they entered on a doubtful experi
ment, threatening the greatest disasters to the couutry.
The divorce would be productive of more evil than sny
meaaure which hsa been brought forward for a aeries of
years. The people understand, and will understand,
when there are two currencies established?the gold for
the servants, and the depreciated paper for the people,
their masters. You will thus isolate the people from the
Government. The effect, by and bye, would be to de
prive the people of any adequate currency whatsoever.
He stated his objections to tlie amendment of the Sena
tor Irom South Carolina, as delusive; and if gen
tlemen desired to take the Treasury scheme, let
it bo understood thst you require all dues to be
paid in gold and silver. There can be no half way,
and he wiahed that fact to be known to ihe peo
plo.?The banks would graduslly become ao crip
pled that there would be no adequate currency. All
which has been done by ua has been done by credit.
Credit is the poor man's capital, and the auxiliary of the
rich. Without it the |>oor man would be kept down to
the level of the day laliorer. Why is this to be uproot
ed, the price of property reduced, the hopes of the poor
man destroyed by tlfis sub-treasury system Ho thought
it by no means improbable that some Senator* now on
that floor might remain here long enough to hear the
projectors of thia sub-iressury system denouncing their
own measures, as they were even now denouncing the
measures they had formerly introduced and sdvocated.
He asked why this wsrfare was carried on against the
banks ' Aim! why were the merchants to lie the special
otiject df assault1 He proceeded to eulogize the mer
cliants of New York, aa ineu who stood by the country
in the hour of her severest trial. Ho eipressed his en
tire sstomshment that the Senstor from Missouri ahould
have thrown out the idea that he would live lo see the
day whan in the opinions of the jteople of this country
the banking system would l>e held to lie as absurd as
the South Sea bubble. He oould not find Isngnags con
sistent with the respect he folt for that Senator in which
lo express his astonishment that at this Iste day, with
all the exporience we have had of the sdvantagea of
credit, such doctrines should be promulgated. He
would only say,
" Tu strange, 'tis pasaing strange "
He stated that in 1831, New York paid twelve mil
lions of customhouse dunes. Setting this . s the ave
rage amount, how is this twelv* millions to be paid m
gold and silver, 'lite specie could not be found : and
if it could, under the new Sob-Treascty scheme, it is to
bo salted do.vn in the Sub-Treasury vault until dis
bursed. Specie would thus, to a Isrge amount, be
wilMr-rn from return, to th. g^t inj ^ lh
Bank. and the people Con.ider.ng ibe i?ure.u of ihe
Executive end ibe people lo be identified, *nd the Ei
?wutive the trustee of lb* people, it wa* bu dutv to
look to the interest* of all alike Out of the twelve
millions collected in Now York, only 1,000,000 w^c
expended there ; and in ibe West, where the di.bur.e
menu u? smaller, the exports of the specie would be
more Iteneral Ho (aire a sketch of tits advantage,
which tb? United State* and Great Britain had derived
from the (taper system.
He went on to describe tha effect* of this Sub-Treasury
system on the Slate of N,w York, and said he would
prefer *" a tornado .weep through the whole St*te,
or an earthquake 4fek<- it to ita centre, than that thi.
deflating measure ahould be adopted He believed
that under the new system, the respectable portion of
society who now fill the offices of collectora, Ac. will
not act; they will refuse to Uke the reaponaibility, and
the duties must be devolved on a lower order of men
It wan a r.llacioua idea, thrown out by the Executive
thst there would not be inore than 30,000 dollars left in
the hands of any officer. Sureties, to avoid being re
ceived, would put their property beyond the reach of
the Government. He conaidered it aa an advantage,
that the interest of banka are antagonist to those of the
Government; but when the public money shall be in
the hands of officers dependent on Executive will, call
ed into being, and liable to be removed, by the aamu
will there can be no chock. The revenue will be all
iii ibe hands of the family. Of 3A1 millions collected in
New York, from the commencement of the Government
up to 1820, the whole Ions upon which amounts to only
44-100th* of one per cent. Adopt thw system, and you
may as well pour out the contents of a miser', hoard,
before an outlaw's den, and think it aafo, aa to suppose
that among our officers, " danger wi wink in opportu
nity." The debt to Europe is now reduced to about
twelve millione dollars, and the resumption of specie
payments cannot take place until tbat debt be paid. In
conclusion, be said he looked on the approaching cnai.
with feelings of the deepest anxiety; and would (eel
happy if the forebodings, which forced themselves upon
him, should lie disappointed.
Mr. STRANGE made an explanation by way of cor
recting some error, in reference to whet had fallen
from bun, by the Senator frooa New York. He aaid hi.
uaine had lieen punned on m often, that the pun made
on it by the Senator from New York produced no effect.
Mr. CALHOUN, aaid there weie but two plan. .ub
mitted, the one by the coinmittcc on Finance, aiul the
other by the senator from Virginia. He placed these
plan* in contraat, toahow that the latter waa too objec
tionable to be taken. He laid it down that no ban*
could reaunie apecie payinenta during the year 1938,
without great aacrtfice ; and he looked on the amend
ment of the senator from Virginia, a* an invitation to
the Pennaylvania Dank of the United States to resume
specie payments, which she might do through her great
money connections, to the injury of other banks. Hp
regarded the argument as to the two currencies, as in
applicable to the case, snd aaid he bad great doubt,
whether there could be constitutionally, any other cur
rency than gold and silver. He considered the evili
which would result from a continuance of the union be
tween bank and atate, aa far greater than any which
could result from a separation.
Mr RIVES made also an explanation aud moved to
amend ibe amendment of the Senator from South Car
olina, by striking out all tlie original bill after the enact
ing words and inserting the bdT which he ^Mr. K.) had
introduced.
The amendment was not in order at this time
Mf. CALHOUN and Mr. RIVES repeated these ex
planations many tuner
Mr. BENTON said he looked on the amendment a.
one of the great measures of reform. He said that the
issue had been changed. Until lately, we were labor
ing to redeem the States from a paper system Now
the State Banks are endeavoring to fasten a paper cur
rency on the federal government. We (said he) are
flying from their embrace, but they are pursuing u. ?
He would consider the adoption of this amendment a.
being the greatest favor that could be conferred on
every solvent bank in the Union, and he supposed no
one wanted to cheiish insolvent banks.
The Senate then adj'd.
HOUSE OF REPRESENTATIVES;
Friday, Sept. 8?d.
After presentation of Petitions, /
The Speaker presented the resolutions of a meeting
of citizens, in the Northorn Liberties of. Philadelphia,
returning their thanks to Congress, for tyhring excluded
spirituous liquors from sale or exhibition in the Capitol.
Laid on the table.
FLORIDA WAR.
The House resumed the consideration of the resolu
tion of Mr. WISE, for the appointment of a Select
ouitmmiec oy ballot, to 'Investigate the causes of the
delays, and failures, and expenditures of the Florida
War.
Mr. BELL said, he was aurpriaed tbat this subject
had not attracted more attention than il has. Evcrv
one seemed willing to lift the veil from the mysteries
of the transactions of the government in relation lo that
wsr, and expose the secret causes of our failures and
disssters, but there wss a difficulty as to the mode of ef
fecting thia object. If all gentlemen here acted on
the noble sentiments of the gentleman from Georgia,
(Mr. Glascocr,) there would be no difficulty. That
gentleman disavowed and repudiated the ides of a party
Committee of Investigation. The investigation was
demanded by the country and not by party ; and the
Chair ought, for tbat reason, to be relieved from thin
delicate duty, because by usage, he was obliged
to orgariixe the committee on party grounds, to make a
packed committee. Aa an opposition msn, he would
not, if the selection of the committee was given to him
(Mr. Bell) make il an opposition party committee. He
would select men of both parties, in reference to their
habits of investigation, and their standing befl^ the
country. He was for making the experiment of a com
mittee appointed by ballot; if it proved abortive, there
was an end of it. It waa an anomaly in the history of
modern times, and in the 19th century, that a war
ahould be waged for four campaigns, coating twenty
millions of dollars, without a single authentic communi
cation from the Government in relation to its origin
and progreas.
One cause of theae failures snd disssters wss, he be
lieved, tho imbecile condition of-onr standing annv lie
staled the fact, that, in General Clinch's conflict with
the Indians, when his first lieutensnt of artillery fell,
a sergeant was the only officer belonging to the whole
command to take hia place. Some other facta he stated,
to show that the forcea employed in Florida were scan
tily officered, and that ita effect waa very disastrous.
Mr WISE inadp an explanation in regard to the re
ports in the morning papers, of the remarks made l>*
hun yesterday. He did not say Gen Campbell locked
the door of the lower room, but that he walked towards
it, and threatened to lock it, &e., and the threat ii|>on
that Committee was as effectual aa th? deed.
Mr. GHOLSON was obliged lo the gentleman for
his disclosures ; and they presented facta which formed
a conclusive objection to the appointment of any more
select coininiuccs. If tho threat of three of a minority
of a committee was to govern the majority of six, and
alter the character and facts of their report, then what
confidence was to he placed in the report of any com
mittee 1 If the minority had no confidence in the ma
jority, then why should the majority repose so much
confidence in the minority ! He knew no one who was
opposed to this investigation; hut the gentleman ?
to get .11 hi? lijfht on the aobject from a stock which
will rcqnirb neither shuffling nor menacing to represent
the gentleman's views. He had heard of this cominille*
the same last year, and had hoped it was untrue He
waa in favor of referring the mquiry to the Standii#
Committee on Military Affairs.
Mr CAMPBELL, of South Carolina, in some re
marks which be insde on the subject of the resolute1',
took occasion to ssy, that he felt free to observe in rela
tion to the gentleman (Gen. Csmpbell.) who?e name
had been associated with these unpleasant reminiscences
that he left thia city without one hostile feeling again.:
any single member of the committee of investigation. <n
which Tie was a member; and that for the majority of
that committee, or a portion of it, he felt the strongest
sentiments of regard.
Mr. WISE rose to stteak, but Mr. Cambreleng called
for the order* of the day. Mr. Wise appenled to '?',"
House to iiermit him to aay a few words Mr lain
broleng said he should be compelled to call for the \'J'
aud nay*. It was necesasry, in consideration oi the
state of the Treasury, that the measure respecting tlw
Dcposites, should be decided oil
The House, by a large majority, agreed to take up
tho orJer*.
postponement of narostTM.
The House sgain went into Committee of the Who'''.
on the sute of Hie Union, (Mr. Haynrs, of Geurga,
the'Chair ' , ,,
Mr SHEPPARD, of N. C., spoke at considerate
length against the bill. ' .
Mr SIULEY. of N V., followed on the o'..e mI'
Messrs CUSHMAN, of N H. snd HOLShV.?'
Ga . spoke at length in support of the bill.
Mr SMITH, of Mi. moved jhst the committee n"
and. after some hesitation, the committee rose; ?''<J ^
motion. ?..d bv veas snd nays, -Inch were cslled lor
Mr CAMBKEl.EN'ti,
The House adjourned.