Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, April 05, 1836, Page 82, Image 2
things continues, or as it goes on, there will s1
be no lack of urdor in opposing the Land 'I
bill, or any other proposition for distributing p
or effectually using the public money while p
this state of tilings exists, or as it goes on. s
We have certainly arrived at ^ very ex-1 s
traordinary crisis: a crisis which wc must a
not trifle with. The accumulation of reve- o
nuc must be prevented. Every wise poli- p
tician will set tliat down as a cardinal max- ri
im. How can it be prevented? Ferlifica- u
tfons will not do it. This'I am perfectly tl
persuaded of. I shall vote *for every part tl
and parcel of the fortification bill, reported A
by the Military Committee. And yet I am tl
sure that, if that bill should pass into a law i
it will not absorb there venue, or sufficiently 1
diminish its amount. Internal improve- ti
ments cannot absorb it: these useful chan- c
nels are blocked up by vetoes. a
flow, then, is this revenue to be dispos* d v
of J I put thii question seriously to all those h
who ore inclined to oppose the Land bill <1
now before the Senate. d
Sir, look to tlie future, and sc3 what will
be the state of things next autumn. The I
accumulation of revenue may then probably t
be near fifty millions; an amount equal per- v
haps, to the whole amount of specie in the s
country. What a state of things is that.? ?*i
Every dollar in the country the property of <
Government. r
Again, sir, are gentlemen satisfied with c
'the present condition of tlte public money in [
regard toits-safety ? Is that condition safe, c
commendable, and proper? The member \
from South Carolina has brought in a bill t
to regulate these depositc banks. J hope
he will call it up, that we may at least have -i
"an opportunity of showing, for ourselves i
what we think the exigency requires t
Mr. Benton said that ho rose to second r
the motion made by the honorable Senator .
from Massachusetts. This was a subject 1
worthy of the attention both of the Execu- t
tivc and of Congress. There was a vast i
? : r i .t
cxpiuisiuu ui paper currency, imu gentlemen i
wuukl perceive that the Uuilcd Sties .Bank
was very far from being the regulator of (
the currency, for the reason that it had set r
?the example of jsuch expansion. This was J
unjustifiable on the pait of that institution, t
and not the less so on the part of these s
-deposite banks. Fie utterly condemned the >
conduct of both. s
He was at present amicably disposed, but s
held himself prepared for war against all s
tanks. He should not not now dither 1
defend or extenuate their conduct; but he (
had a hand as ready to strike against them <j
as it was in the case of tlie United States i
Bank. He objcctod to a national paper s
-currency in toto: and he had a series of c
measures ou the subject carefully prepared, f
and which, at a proper time, he should pre- d
sent for the consideration of the Senate. c
Mr. Clay said that he had attentively ex- r
amined tlie document to which the attention rj
of the Senate had just been called, and was a
seriously impressed with the alarming state li
of the thirty millions of the public money c
which was reported to be in the deposite r
banks. It appeared that the aggregate t
amount of all the-capitals ofthose institutions \
was only forty-two millions of dollars, whilst 1:
the Public had, or ought to have, in their p
vaults thirty millions. Jn various instances c
the amount of the public deposite far ex- S
cceded the capital of the banks. Among ti
others, the capital of the Savings Institution a
at Louisville wasstated to be $ 96,460, L
whilst the sum of 9337,377 43 was deposited n
to the credit of the Treasury, besides the v
sum of 9 80,500 96 on account of private U
depositers. Of the two banks in Michigan, v
one had a capital of9 828,698 60 in public h
depositcs, and the other a capital of 9 150,- g
nAA 1 VI* .1 , ?t. _ A /
uuv, anu puouc ucposucs 10 me amount 01 s
- $ 784,764 75. And if wc look at the c
commejcial metropolis of the Union, where p
near ten millions of public money are dc- v
posited with three banks, in every instance, 'J
the amount of the public depositc exceeds v
the capital of the bank. v
New the security of this vast sum of pub- ?
kc money is an object of great importance. 11
Let us see what it k. These depositc
shanks are under total liabilities to the cnor- ?
.mous amount of nearly seventy-eight mil Jions
of dollars, for paymen' of which they may
be called on any one of the 305 days of 11
the year. And what amount have they to J
meet these liabilities, in the event of any J.1
such immediate call ? Only about ten "
millions of specie! Only one dollar in about
eight! Tlie principal part cf their other "
means consists of notes discounted and *
bills of exchange negotiated. But if there S
come any sudden -pressure?if that con- ^
vulsion in the paper system of whicli every *"(
considerate man foels a consciousness shall 0
take place, these means will be found alto- Sl
gether unavailable 'to enable the depositc
chunks to fulfil their engagements. .Suppose b
a failure in the Southern croo. or a trreat ^
% m ? o
reduction in the price of Southern staples, n
the wants of commerce would require the
^exportation of specie to supply the deficiency, m
'The banks would have to furnish this supply, r<
which they could only do by calls on their s
-debtors. The example of one bank calling F
in for such a purpose would become con. c
tagious. Great distress would ensue; and
. a crash, if the demand for exportation of S
specie should be great, would be inevitable, ir
jand ruin and bankruptcy the .necessary n
consequences. In such a estate of things, I
where would be the ability of the deposite (i
banks to,refund the Amount of the public t(
deposites? What would become of the *
thirty millions of the public treasure now in u
their possession? fx
There is another interesting view of this c
subject. We have collected from the a
People, and now have in those banks, 8 30,- f:
.000,000, . Who is the real debtor to the. o
jPuWic for thaUuw J Not the banks. They m
ape, indeed, the nominal debtors; but they b
ape, in fact, incre agents. The real, .sub- o
stantial debtors to the Puhlic are the debtors tc
to the banks who have borrowed the public t
jrnoney. And we do not know who they tr
arc. The Public is in the most singular 1
condition of being a creditor to the large T
amount of thirty millions of dollars, without fi
even knowing the names.ofits actual debtors, tc
But it is not the insecurity only .of this o
ought to change the a
* c**
irious attention of Congress and the Public, t
'he distribution of it among the different
arts of the Union, whilst it remains unapropriated
by law, is a most material circum- ]
ancc. No one can believe that, unless l
5mc such scheme as tlic Land bill is i
depteil, there will be a less sum constantly I
n depositc, for-soinotrmeto come, than the ]
resent sum. Assuming it to be thirty i
lillions, the annual interest at six per cent,
pon it would be one million eight hundred
lousand dollars. Now, who ought to have
lis interest ? The Public, undoubtedly.
V'ho gets it ? The depositc banks, and
leir shareholders. And how is this thirty '
rallions distributed ? In the State of New
'ork, with about one-seventh of the pepulaon
of tlie United States, there is deposited
nc-third of the whole sum of thirty millions;
tid in Kentucky, which, on a fair division,
-ould be entitled tn about a million and a
a!f, there is deposited only about 8 337,00.
In other States and sectione the
isproportions were equally striking.
" ""'nun <nkn* minli* COirl
iii/ n uo u*>uiv> kji unui w ^w???
Ic was aware that it might be alleged that
te depositcs ofthe public money were made
^here the collections were made. Hut
urely the incidental as well as the direct
dvantoges in the administration of this*
lovernmcnt aic worthy of consideration,
rhe accidental circumstance of the place of
ollection ought not to give to that place
eculinr advantages, to the exclusion of all
>thcr parts of the Union. It was not so
dicn the Bank of the United States was
lie financial agent of the Government!
ri.cn, by means of its branches the benefit
ite being the de[?ository of the public
rioney was diffused throughout tin) Union:
nd the Government, as a stockholder in it,
eceived a fair proportion of the profits.
Vnd the true remedy for the inequality which
ic had stated would be found in the distribuion
pro{>oscd by the Land bill, and in
ivoiding always the accumulation of any
innecessary surplus.
#Mr. Clay said that he had intended to
all the attention of the Senate to this docunent,
in the course of the debate on the
jand bill, and for that purpose had directed
t / .11 T-?. .1
no prcparauon 01 a taoic. um as me*
iibject, unexpectedly to him, had been adverted
to by the Senator from Massachuetts
this morning, he felt it due to the ceca.
ion to make the-observations which he had
ubnaittcd.
Mr. Calhoun said that, until he saw tfek
locument, he had no conception of the
real and i nmincnt danger which awaked
is. No man now, however, could deny or
hut his eyes as to the cause of it- Its
ommenccmcnt took date some three or
3i r years back ; and its results had been
istincdy foreseen, by himself at least The
[iscase is on us, and there is a fearful
esponsibility somewhere as to its cause,
.'his is the point. Something must be done,
nd done speedily. Delay till this session
as passed, and a wound will be inflicted on
>ur currency and our country, from which
either will recover. All who have any of
liis worthless capital in iheir possession
rill be rushing to invest it. in the public
mds. And shall we stand calmly by, and
ermit this fraud ? Shall this Senate enlist
n the side of speculators and swindlers 1
!ir, a worse state of things is, we arc on
leeve of a frightful political catastrophe?
catastrophe which will terminatein nothing
ut the government of the strongest. He
nderstood these .military shemes; they
reru leading, by a-.rapid and fiery process,
) absolute despotism. The ^Jovernmcnt
'as no longer elective; it had become
creditary. The demoralizing influence of
&fd has been already exercised : the age of
} cl is coining; and with steel will the
onflict close. Vaiu will be the efforts of
atriotism, of virtue, of eloquence, to i
ithstand the advances of arbitrary power,
i'he great and durable interests of society
ill Ka rJnotwntm/1 n?\J *vy?il O?
Ill U\J VI ^.3II UJ UllU UAVV/U11 > Vi
ill rise ^ver them, strong in the ruin of
very counteracting authority; strongest
i the possession of consolidated power.
Some honest and equitable manner of
etting rid of this surplus revenue must be
evised. He put it to the gentleman from
lew York,(Mr. Wright,) whether fifteen
lillions of money, belonging to the whole
ountry, ougnt to remain at the disposal of
is particular constituents ? Will he, as a
iend of his country, permit this robbery ?
He was.confident that the Senate would
ol adjourn without applying some remedy,
ict all party feeling be put aside. Let
cnators consider themselves as citizens of
ic confederated States, sent here to legislate
>rthc whole Union. He felt under great
bligation to the Senator from MassachuJtts
for the motion he had made. lie
usted it would prevail. Let the document
e printed, and take my word for it (said
lr. C.) it will be considered as a pheomcnou-on
the eyes of all Europe. <
The disease which is -spreading over the i
hole body politic demands and should
jeeive our notice. Let us break up this i
agnant pool, and throw back upon the ;
eople the treasure which is legally- and i
suitably theirs. i
Mr. Wriffht said tire frentlcman from i
w
outh Carolina had asked him one most 1
nportant question, and he had asked it i
tost improperly. He had asked me, was
a friend to my country ? In the position i
;aid Mr. W.) in which! stand, the answer \
> that question is not with me. I am <
illing tor my conduct to reply. Proudly 1
ill I place my self by the side of the Senator i
ora South Carolina, and let our acts be <
mvasscd together, and let them give the ]
swer; 1 will not answer. The Senator t
om South Carolina had complained loudly t
f the inequality of the deposites, as they ere
now distributed. Would he hot throw j
ick his recollection, and remember what 1
:curred only xwo years ago, when we were t
ild, and by no Senator in more emphatic t
rms than by that gentleman, that .the t
ansfers of drafts by the .Secretary of the
jeasury were violations of the Constitution? 1
!id not the strongest denunciations come (
om that Senator, as well as from the Sena- i
?r from Kentucky, on account of a transfer t
f Treasury drafts from one bank to f
mother ? Yet. row complaint is rhat f
i
hese depositcs have not been transferred,
rhc argument could have no other bearing.
Was not all the money which lies ou depositcin
the Now York banks collected in
the port of* New York ? Gentlemen do
not believe that this bould have been trans,
ferrcd. Is the Department to be complained
of boeause the public money lias
thus accumulated in those banks ? The
money hag been suffered to accumulate,!
for there was no authority by law tor the
Department to transfer it, and the greater
part of it has been collected in New York.
Hence arisesthe inequality in the distribution
of tlje depositee, and not from any action of'
the Executive Department, lie had been !
greatly astonisl^d to hear this complaint of
the gentleman from South Carolina,treading 1
so closely on the heels of the other -coinplaint,
that drafts had been unconstitutionally
transferred by the Department. "If there
had been no law passed to regulate the
depositcs, was the Executive to be made
responsible for that omission 1 It did not
seoni to be just that lie should.
It was far from his purpose, coming into
his seat, as he had donq, after this 'motion
had boctuwadcj-and not having had aa-op-portunity
of looking over the document, to
enter into an argument as to the security
or insecurity of the public money. He had,
as yet, made up no opinion of his own on
the subject, but he might be allowed to saythat
he did not feel so much apprehension
on tb- subject as some gentlemen appeared
to feci. Perhaps he did not feel enough of
apprehension. But, certainly, whatever the
danger in this case may be, it would not he
ascribed to any fault of the Executive.
Mr. Calhoun said that the Senator from
New York had displayed his usual tact and
ingenuity in the remaiSks which he had just
made. He (Mr. C.) had stated the ex-:
istingevil as it stands. He had said that
there was .fifteen .millions of the People's
money in the deposite banks of New York,
and that these funds were used without
interest. He did not question the Senator's
patriotism : he only appealed to it. The
gentleman, however, had given to his
remarks a totally different turn. As to
transfer drafts, he would rather the mcney
should remain where it was, than give to
.1 CI . - C .l.? iv ?1,A
me oeureiurv ui uio x reusing j/vttv*
of issuing them.
The gentleman wishes to know why a
remedy was not offered before. Did not
he (Mr. C.) offer one? Did he not introduce
a bill which would have met and
obviated these evils; and was it not lost in
the other House ? As to any comparison of
his political life with that of the Senator
from New York, he was perfectly willing to
go into it at any moment whonithe gentleman
saw fit. He should not shrink from
any comparison which should involve forecast,
patriotism, and a manly meeting of
i m*. ?ni . _ ^i_ ? i
responsmiuiy. ine majority in mis oouy
had changed, and in some measure hie
rejoiced at it; for the Executive and those
who supported him had now the .whole
responsibility.
Mr. Wright begged to disclaim any thing
like personality of allusion. It would be
vanity indeed in him to put his humble
services in competition with the long and
valuable services of the Senator from
South Carolina. But he had understood
that gentleman as characterizing the great
accumulation of the deposites in the New
i'ork banks as a robbery of his constituents.
If the bill of the last session had passed,
would there have been any alteration in the
present state of things? He would :rcad
an extract from that bill: it ran thus-'
That the public (funds shall not be
removed from the banks in which they are
now, or may hereafter be deposited, without
the -consent of Congress, ^except in cases
where the Secretary of the Treasury shall,
in his opinion, have soodcause-to apprehend
that the funds are insecure, or where a bank
of depositc shall neglect to comply with,
the provisions of this act, or refuse to .perform
the duties, or conform to the conditions
or regulations which the Secretary
of the Treasury is hereinafter authorized to
prescribe."
This was the regulation of the bill on that
part of the subject. Would the situation
of the deposites then have been in any
way altered ifthis bill had passed ? Their
distribution, it was true, would have been
regulated by law, which would have been
highly proper, but the situation of them
would have been in no degree changed.
This was tlic part of the subject jh which he
most particularly desired to be understood.
As to the fault of the accumulation of the
deposites in New York, it was not in the
Executive Department. The Senator had
asked why some measure of regulation had
not been proposed ? He should have re11
- 1-1 - -i _ n . r -i _ rn
coiiectea mat me secretary 01 me 1 reasury
had recommended to Congress? the course
of action on this subject which he had sup-posed
to .be the best. *
Mr. Calhoun said that the Executive hada
fixed majority in the other House: we
poor Senators, who were called a factious
majority, had done all that was possible to
avert these evils : why weie we not seconded
by the friends of the Administration in
the other branch of Congress ? The Senator
could answer that question if he chose.
There were three measures introduced
in this hndv u'lnVh wnnld have had tho rip.
sired effect: one to take away from the Expcutive
the power, by means of the public
treasure, ofdiscipling and regulating the
ranks of his party ; another, to regulate the
Jeposites of the public money; the third, a
proposition so to amend the Constitution as
0 permit the distribution of the surplus rer'enue
equitably among the whole People.
l\11 his reasoning on this last subject was
pronounced wild and visionary. There
vas no prospect of pushing it through at
he last session:: and he had thought it beter
to let it sleep over until the amount oj
he surplus was ascertained.
The Senator from New York wishes us
:o turn our eyes upon the past. lie (Mr.
3.) wished to consider the future ; and it
vas for this purpose he had endeavored to
1 waken the attention of the gentleman. The
subject was indeed full of interesting con.
^derations. It was che greatest and
most momentous question that liatl over
occupied the attention of the nation.
Mr. Benton said ho could not help inter- J
fering in the debate. He could not sit there i
wtthout pointii?g out that this affair of thirty
millions of surplus revenue was all an illusion.
There was no such surplus. There
appeared to be such a surplus, because Congross
bad reached the fourth month ofthcir
session, and the appropriation bills had not
yet been passed. The money which npjxjared
to be a surplus was all pledged to
various objects, the appropriation hills for
i which were yet to be passed. lie thanked
j gentlemen for reminding him that the mnI
jorities had changed in the Senate. And
I lie meant now to admit to th<? American
People that tfle majority should be rcsponsible,
hereafter, for the public business. Ves,
four whole months had passed awuv, the
time for laying in the materials for erecting
fortifications was going by, and no appropriation
bills had been passed. He was
determined hereafter to ask the yeas and
nays on every question, in order that it
might be seen who would obstruct the public
business. At the very moment when a
vote was about to be oaken on the Fortifications
bill, it was decided, by a vote taken by
yeas and nays, that this bill should be stop,
ped for the purpose ?of taken up the bill to
giveaway.the pifblic lands. It was an illusion
to talk of thirty millions surplus revenue.
It was an illusion because the appropriation
bills had not been passed no,
| not even the Cumberland road bill; for. al(though
that bill had passed the Senate, it
J it did not pass until after an account bad
; been made out by the Department and the
most injurious delay, had taken place. And
now, having made up a showy account, we
are to tell the People that this money is improperly
distributed, that ten millions are
given to one State, and a million and a half
to another. It was all an illusion. It was
putting out a golden fly, a false bait, to catch,
the People. lie had determined to call up
the defence bills early next week, and sec if
' ? . i-_
tne public UUS1I1CSS was IlOl ue lamoi. VII,
now that the Jackson party had the.majority.
Instead of calling on the Treasury Department
for a return of the amount*of the
revenue in the Treasury at tlie date of the
last examination, why did not gentlemen
call for thoamount of surplus revenue which
there would be after all the appropriations
of the sossion shall have been paiJ. The.
annronriation bills had .been delaved for four
4? I a ?
months to swell this mass of apparent accumulation
; and when it had been swelled as
much as possible to the highest point, it .is
held out to the People that there is a surplus
of twenty-seven millions to be divided among
them. Although there seems to be so large
a sum in the Treasury, before the adjournment
ofCongrcss appropriations must pass1
which will dispose of fifteen or twenty millions.
Let no gentleman decide, even for
himself, how much will be appropriated.
Let no gentleman decide, even for himself,
what will be required in our navy yards,
and for our fortifications. Hitherto, a few
works have been commenced at a time, and
those have beeiyinishcd before others have
been commenC But it may now be necessary
to begin at once at many different
points. A resolution has been passed callintr
on the President for a-retum of all the
?o ? ,
points: on our coast at which fortifications
are required. The report, in answer to that
resolution, may be expected daily. Gentlemen,
therefore, should not commit their
opinions on these points. Every thing J
which could be spared ouglit to be expended
on the fortifications.
The evil of the infliction of paper he
would only touch for the purpose' of referring
to a remedy. That remedy would be
found in the first act of Congress after the
formation of the Constitution. The act of
1789 provided that nothing but gold and
silver-ebould be received in payment of the
public revenue. He hoped this would be
the case again. He hoped the Senate
would not rise without being called on to
give a vote on this question.
The danger which had been referred to
was not so great as gentlemen seemed to
apprehend.. About a year ago, it was astonishing
to see the amount of gold and
I silver which came into this country. Since
| thai time we had seen no such accounts,
because the country had been flooded with
paper, which-at first prevented the inundation
of specie, and then drovo out of the
country what had found its way here. lie
should call on the Senate lor a vote on this
question before the adjournment.
Mr. Ewing did not concur in the views
of the Senator from Missouri, that a full
treasury was necessary to meet the appro.;
priation bills. If there were put five millions
in the public exchequer, it would be
perfectly safeto.go on, make the appropriations,
& pay as the money came in. These
appropriations would not lessen the amount
of the surplus. Not at all. It were idle
to suppose so. On the contrary, it would
continuelo increase. ?Vbout twenty-three
millions were to be appropriated, and that
would be easily derived from the customs
and other sources, while the sale of the public
lands, constantly flowing, in would remain
untouched.
As to the fact of the appropriation bilk
being kept back: why was it? The Senate
could not originate these bills ; it was
the duty of the House to send them here,
and they had failed to do so. The slate of
things was exactly, to the very letter, as it
had been represented by gentlemen on this
side of the Chamber.
He would suggest one thing n>orc. There i
were thirty-five deposite banks, and only i
eight of them were able to pay the amount 1
in their hands on demand. It is in t'ne poyv. <
er *jC me Secretary of the Treasury, then 1
to crush the remaining twenty-seven. See, <
then, the influence which this circumstance 1
gives the Executive over the stockholders, 1
the directors, and those uudcr their control. ]
A golden chain binds them all together, the i
ends of which are in the handsofthe Pre- :
sident, and that officer resembled Pharoah i
when he gathered into his own granaries i
all the corn in Egypt, and compelled the 1
neorve *s> se'i themselves f r hread. ?
Mr. Walker said he did nut rise to enter j U
into th'c discussion, but merely ft>r the par- j d
pose of stuting a fact. The remarks of; n
the Senator from Ohio seemed to lead to ' u
the conclusion that the public money in the y
depositc banks might be used for political i c
purposes. He felt himself called on, there- j L
lore, to state that such was not the fact so t ii
far as Mississippi was concerned. The v
Planter's Bank of Mississippi had more of:
the public depositcs than any other bank in
all tlie western part of the country. The
directors of this bank were gentlemen opposed
to the party which is called the party of (
the Administration. The gentleman who ,
stood at the head of the opposition ticket 1\
"? r ?v i t i?.l . t _U
^>ir. L?yncnj was* tne president 01 me eniircu j i
of the (Ic?[>osite Bunk; and the gentleman ;
who stood as a candidate for Congress at
the head of that ticket (Mr. Wilkins) was
the president of the dcpositc bank. After i
the result of that election was decided against
him, he was run as a candidate for the U.
S. Senate. So far then as the Mississippi
Bank was concerned the public money
could not be said to have been used for po.
litical purposes by the party culled tin; party
of the Administration. He bclivcd that
the same would be found to be the state of
facts in relation to all, or most of the other
banks. In fact, the whole of "this paper
system was against the party called the par.
ty of the Administration?it was against
the People. And whether the public mon.
ey shall be deposited in u national bank,
or in denosite banks throughout the S'atcs.
" r - - - o # ' '
instead of being likely to be used tor the
People, it will be used against then). If
money, if dollars and cents, were to control,
instead of the votes of the freemen,
there would be a different party at the head j
of the Government than that which is now I
placed there. Count dollars and cents, instead
of votes, and the Government of the
country would be in different hands.
Mr. Black said that politics had nothing
to do with the election of the directors of
the deposite banks in Mississippi, lie believod,
indeed, that they were opposed to
the present Administration and that this
was true of the .moneyed interests in his
State generally. Money was no test with j
them, nor did it influence tlieir elections.
Mr. Walker explained thai he did not!
mean to cast the slightest censure on the j
Planters' Bank of Mississippi.
Mr. Ewing said that the Senator from I
./Mississippi (Mr. Walker) misunderstood!
him. He did not sny that the Executive
had exercised this power, but that he could !
if he chocc. There was a difference be.'
tween thcJtuving.ofa power and the exercise
of it.
The.motion was then agreed to. ..
CONGRESS OF THE EXITED STATES. |
SENATE. .
On the lMtli 3/arch, Mr. Calhoun offered the"!
fnllnniinf/ roanln t inn
Resolved, That the Committee on the Judiciary
be instructed to inquire into the expediency
of providing proper measures for tho safe keeping
of the journal of the two Houses and other
fmblic records, and of protecting them by proper
egal euaotmenti from buing mutilated, obliterated,
erased, defaced, expunged, disfigured, altered,
or othi rwise destroyed'or injured.
Mr. Grundy introduced & bill to authorize the
Post Master general to contract with rail road
companies for the transportation of the mail, the
officers-of the Post office department and the officers
of the army. Referred to the committee on
Post Roads.
The bill for tho relief of Washington, Georgetown
and Alexandria was passed to a third reading
ayes >17, nays 16. It appropriates $681,120
to pay a debt contracted by theso corporations for
the purpose of taking Chesepeako and Ohio canal
stock. The stock to be transferred to tho United
States; but the corporations may redeem it within
ten years. This bill passed its third reading next
day.
On tho 25th Mr. Calhpun's resolution offered
vesterdav was laid on the table arcs 19. navs 15.
On Saturday the 26th the Sonato did not sit.
On the 2oth a resolution to adjourn on the 23d
May, passed, ayes 34 nays 8. The expunging resolution
was taken lip, when Mr. Rives of Virginia
made a speech-in favor of it, and Mr. Leigh
I signified his intention of replying as soon as he
should have time to examine the authorities on
the subject. The resolution, was on his motion,
laid on the table.
HOUSE OF REPRESENTATIVES.
On the 25th March, Mr. Ilall of Connecticut 1
offered a counter report from the minority of the 1
Post oftico committee, whieh takes the ground
that Congress has not the constitutional power
to restrain by legislation thocirculation by mail
of incendiary publications. But the House refused
to receive the report.
A great part of tho 24th and 25th of Afarch ,
was spent in discussing tho case of contested c- j,
lection but no vote taken.
On 26th tho same subject was taken up when (
a debate arose which lasted till half past four o'clock
on Sunday morni and produced very
great excitement. Mr. Wise of Virginia and Mr.
Bynum of X. C. indulged themselves in harsh .
and offensive expressions of each other, to such
an extent as indueed the House to interfere, and
procure mutual explanations and retractions? '
No question was taken when the House adjourn- '
cd. On the 28th the case was again taken up, 1
when Afr. Graham addressed the House at great
in unnnort nfhl* claim to the seat now held
* w? ??. _
by him, and Newland roee-to reply, but gave way ]
for a motion to adjourn.
Afuch praise is bestowed by letter writers up. '
on Mr. Rencher of N. C. tor Jhe ability display,
ed by him during this debate. They 6ay that no.
thing but the blinding influence of party preju.
dice could resist the force and clearness with *
which he demonstrated the right of the sitting 1
member to hioseaf. A bill was reported to increaso *
the army by adding one regiment o 'artillery, and '
two of infantry. " 1
' ' k
From tho Correspondence of tho Lynchburg
Virginian.
Washington, March Gth, 183G.
Rumors are plenty as bl?.ck berries. It f
is said, that Governor Cass is before the Sen- h
ate, as Minister to France, and that Speaker
Polk goes into the War department. That v
Cass will go to France, during the summer n
I expect is quite likely. The crisis which fl
Jemanded his cool, discriminating judgment, d
lis powerful intellect, and his unbending in- P
:egrity, is over, and he can be spared.? fi
Lewis Cass is one of the greatest men of the r
ige. When he takes dp a subject, he aei. c
scs it by the horns ; dints, as if hy magic, a
nfo all its ramifications and bearings ; piw. fi
sents it to you in its most overwhelming c
form, clothed in language the most chaste I
md c'.a and ooinpcls you to yield, even 11
lough it be agninst your will. He is
ccidcd frivnd of the administration, but
jodcrate und dignified, and charitable to?
'ards the opinions of his opponents. He
roukJ adorn any station in the gift of his
ountrymen. 'ibis may seemextravagant,.
ut it is due ; and though I differ from hhi*
u some of bis political opinions, I cannot
withhold it from bin?. * > .
From the National Intelligencer.
THE PEPO^TE BANKS. ^
^Ve have made room today tor a* public
locument of great inteiftst, which will-ha fimi
in the precoeding page. It ie a Tsbolar
statement of the condition of the Banks in which
the public money has been placed; from a pwv
ticulor examination of which, every iotoHifenr
reader will derive information, aome of it cartons,
and all of it instructive. The following is *
recapitulation of the aggregates of the table :
Lubiutxss.
Capital #42,356.088 27
of Treasurer V. Sv S8?39.744 61
Do. Public Officers g ^ jq
Due to Banks < U&9,Hl 49
Contingent tund > - 840,270 96
Profit and loss, discount antliaterewK2.V& 90S 63
Circulation
Private deposits 15,043.033 65
Other liabilities 5,937,045 02
1.970 9ft
$ 139,17*161 45
.Veins to meet them.
Loans and discounts
Domestic exchange 27,!149,0m 39
Real estate ' 1,81*3*64
Due from Banks 15,712,977 95
Notes of other Banks 9,573,089 99
Specie ' 10,199,659 M. i > j
Foreign exchange 406^542 99 k?
Expenses 96,591 49 *
Other investments 8,777,958 IS}.;
. 8139,170,161 45
. Ii #"j
FOREIGN. , , E'f
THE U.STATES AND GREAT BRfiAUt M
CORRESPONDENCE OF T1IE JOURNAL OS COMHXSCS. ,
The session of Parliament has commenced in
a manner the most auspicious for the miafilUL
His Majesty opened it rn person on the 4th, lion
speech that has given the country the greatest
satisfaction. In alluding to the foreign relation*
there is a passage that cannot Ail to internet your
readers, and which I shall, therefore, extract, en
as to bring it more immediately under thtir
attention. After alluding to the atato of entity
which exists between himself and the continental
sovereigns, he thus introduces the mr'crence
between tho Unitod States and France t
" Desirous on all occasions to use my ftiendly
endeavors to remove causes of disagreement
between other Powers, I have offered my modia
tion in order to compose the difference which has
arisen between "Franco and the United Stoles.
This offer has been accepted by the Kief of the
French; the4 answer of the President of the
6u?m Ilia nnt ml ll?n mmimJ. Int f
entertain a confident hope that a misunderstanding
between two nations so enlightened tad
high-minded wiH be settled in a manner.srtis.
factory to the feelings and consistent with the
h onor of both."
In the course of the debates that ensued the
Duke of Wellington expressed his approbation
of this line of proceeding, and remarked that "the
true policy of England was, not only to br at
poaco herself, but to use her best itraaence to .
preserve the peace of the world, and naoio-.particularly
at this moment than at any other mM This
sentiment was loudly cheered by bothsflm
of the House, and declared by the Fkwmieit I^rd
Mxliooiikk, to bajho* mytirnm of polirfsrhkh
the Government were determined "to sMprt
and preserve." Sir Robert Peel's obscnratMRts
on this part of the speech became important as
much from their peculiarity; as his own distinguished
station. u He was anxious," he Mil,
that the subjects of those two countries Should
understand that the two great parttsa, had I
indeed ali enlightened persons in this country, {
took a much moro cnl trgod view than Was
generally supposed, of the interest which they
had in the termination of those differences. He
believed there was scarcely one man In Swland,
who would contemplate bat with fain.tSe
commencement of hostilities between France ,
and the United State*, (hear, bear ;) tad be 3
believed that thero was no man who ??ak)Jot ?_
think that any petty temporary advantage wbkb
might in tlie tint instance be derived mm
commencement of sQch hostilities between tbdfib*
two great Powers, was dearly pnrchased hy tbe *
hazard ot a general war arising out of the COO*
test between them, and by the danger whach
industry, morality, and humanity must soslom
under such an emergency, (&tr, baar,.") tad %
John Russell. in reply to this portion' of the ExPremier's
spech, observed that ** Ho bad batrd
with pleasure the right honorable goutbUHIi'i
declaration, and felt sure that the whole cOQMtry
would respond to his observations on that g^int,
IIo was persuaded that the mediation of England
would tend to prevent war between two- gloat -J
countries on a point of honor, and that theio waa
every pledge of a continuance of peace ,nnd
harmonious intercourse between Franco and the
United States."
From the Charleston Courier of Apt| fit,
. Later from Liverpool?Diuser,
? /V ? _ A D -
'1 HO snip isOrritiiu, v^opi, juatuih, wipu it
this port yesterday afternoon frodr TjmptMil.
whenco site sailed on the 18th February.
The political news is oflittle imports nee. The
Cotton market has advanced ?d.
The London papers are occupied in diaeoMog. t
the charges against Mr. 0'Co.h.iell, and tb? tate^ (
L'arlow elections, which arc shoot to be brought >
jefore the House of Commons. i
The news from the annjee in the Keith of'
Spain does not amount to much more thee that -f
xjih parties are trianarcvring to take apSdrsnageoos
positions.
The Hon. Sir Tuoxas VACKtstuM, whose
death was prematurely announced some months
igo, died a short time since in Dublin, at the
idvanced age of 78 years.
TEXAS.
The last account* from Texas ?y that the it- i
:ack upon Sau Antonio ni untortWcaouMiid
)f Gen. Cos, and that ho wa*repolae<iwift*fr?.
>f500 killed. The Texxaaa safieAie loasa?
hoy did not aMow the enemy to approach nearer ^
han the reach ofthcir own cannon drat ?
> v.> ^r. yp: ; 1
One white moo cod two Indians have been
iken up at Indian Key on suspicion of beig
spies.
A letter dated Fort Dinner March IS, gi.
ing an account of the suffering of Gaines' : i
len, says: "They were liviug oo botse V
lesh which was starred to death, and the ; MR
ogs in the Camp; one dog's Ieg sold for $5. -? 2U
fot a particle of bread had been seen there
x many days, and the Indians kept up a v'. egularfirc,
night and day, for eight days,
?n the entrenchment." The same letter
dds. "Lieutenant Izard was the only oficer
killed, but several others were wound,
d, and about 30 men, principally of the
.ouisiana Volunteers under Genera! Smith.
?he Indians are on the sarrR river, but a*