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APRIL 23, 1836.]

Specie Payments.


him by the constitution; and as the representative of the would ensue, was what I did apprehend, and no one people, he exercises such powers as he sees fit, on his will now contend that that apprehension was groundless. assumed powers. This observation was entirely gratui. Such, too, I believe, was the general opinion on this tous, and not authorized by any thing he (Mr. N.) had side of the Senate at that time; and some gentleman said. In speaking of the President as the representative may have gone further, and spoken of a deficient treasof the people, he did not use the term in reference to ury; but I recollect no such thing, and I am well aware his powers, but solely in reference to his responsi- that such was not the general opinion of the party with bility, to his relation to the people, as a popular officer.

whom I acted. The yearly receipts into the treasury Whether he was regarded righifully and properly as the from all sources, for two or three years prior to the representative of the people or not, would neither en. time of the discussion, had been more than thirty millarge nor diminish bis powers; for, if it was correct, as

lions--the wants of the Government did not, in our eshe (Mr. N.) believed it to be, to regard the President as timation, exceed half that sum; we therefore did not (at the representative of the people, he was their repre

least I did not,) after reflecting on the subject fully, sup. sentative, under the constitution, clothed with the au. pose that any tampering with the finances and the busithority which that conferred upon him; it was for that ness of the country, whatever private distres it might purpose that the people elected him, and in that sense occasion, would leave the treasury without a sum large he was their representative.

enough, and too large, for all the legitimate purposes to Mr. WEBSTER remarked that it was the best course which it would be applied. The gentlemen who made when a gentleman replied to another, to use his very

this charge happen not to have been members of this words as far as his recollection permitted him. He had body at that time; and I agree with the Senator from noticed, on other occasions, that the Senator from Con Pennsylvania, that a foreigner who should have got his necticut gave his own language as that of the gentleman opinion of us by reading the Globe, would think us the he was replying to, put his own construction upon it, strangest and most inconsistent people on earth. and then replied to this man of straw. He hoped that

What we did predict was this: that, in consequence the gentleman would, when he quoted him in future, of the violent and illegal attack of the Executive upon use his exact language, and not put into his mouth words the Bank of the United States, that Bank would be com. that lie did not use. The gentleman, in speaking of the pelled to call in its debts, and contract its issues. That President, used the term representative of the People, these defensive measures must be taken, and that they precisely in the meaning of the term as applied to a must be persevered in so long as the Executive continued member of the House of Representatives. Now, it was to wage his war against the bank. We predicted that impossible to believe in any idea of power pertaining to

this attack and defence would cause great pecuniary the President in this character. But he would remind pressure, and much individual distress. We predicted, the Senator that the President himself, in more than one also, that the extension of banking capital, or rather communication, had claimed this character and power. “ the chartering of a host of new banks, with little or It would be found in the protest that he is the only sin

no increase of actual capital,” would be resorted to as gle representative of the people. Sir, (said Mr. W.,) a remedy for the evil; that this would give rise to an exthis is the very essence of consolidation, and in the worst pansion of the paper currency; that this currency of hands. Do we not all know (said he) that the peo.

would become unsound, and unequal in value at differple have not one representative? Do we not know that ent points; that the price of exchange would become the States are divided into congressional districts, each high, and commercial transactions difficult; and those of which elects a representative, and that the States of us who looked to the worst predicted a final crash themselves are represented by two members on that among the banks, and a return of the scenes which we floor? Do we not all know that it was carefully avoided

witnessed from 1818 to 1822. by the framers of the constitution to give him any such

These were, in fact, our predictions. Let any man power at all? He admitted that the President, in refer who has eyes to see, and candor to acknowledge what ence to his popularity merely, was called, with great forces itself upon his vision, say how much of this has propriety, the representative of the people; but, in other been realized, and how much is in progress towards respects, he was no more so than was the President of fulfilment. The pressure in 1834 every body felt, the old Congress. There was another false doctrine every body understood; the only question contested that was worth noticing, and that was, that every thing was, whether that pressure owed its origin to the blow which had been done by the President had been ap. of the assailant, or the struggles of the victim; but the proved of by the people, because they re-elected him. cause is immaterial; it was foretold by us when the

Mr. EWING, of Ohio, said: I cannot forbear to say blow was struck, and it is conceded that the consesomething in reply, not merely to remarks made here quence followed. The “host of local banks," with this day, but to others of some days past, which have but little actual increase of the capital of the country, been permitted thus far to go unanswered. The Sena. has followed in its due order. Since June, 1834, the tor from Pennsylvania, near me, while speaking on an. nominal banking capital in the United States has inoiber subject, said “ that a foreigner, who should have creased more than $100,000,000; the actual capital I heard us in 1834, and should hear us now, would think know not how much, probably not ten millions; and us the strangest people on earth; that then we were pre- the price of exchange has risen, even beyond the fears dicting bankruptcy io the treasury; now we were com

of those who feared the worst; and as to our currency, plaining that this same treasury is full to overflowing;” | it is admitted on all sides to be in a state of extreme deand similar ideas have been thrown out to-day, in this rangement. The Senator from Missouri the other day debate, charging the former majority, now the minority very justly observed that our receipts for public lands in this body, with this inconsistency. Now, sir, a word were not of money, but of rags, almost valueless; and on that subject.

we all know why it is so. The deposite banks loan For one, I am conscious that I did not, in 1834, or at their bills to speculators, who pay it into the land offices, any other time, utter a prediction that our finances from which it is paid again into the deposite banks, and would be deficient, or our treasury, if we have any, thus perform the round of purchaser without the actual empty. I am much mistaken if I ever uttered such an accumulation of one dollar of available funds. It is but opinion. That great derangement in our finances would trash, and any man will feel it, and know it, if he look be the result of the violent and unwarranted measures of upon the statement of those banks, as laid on our tables the Executive, and that heavy losses to the treasury a few weeks since. With more than thirty-two millions


Specie Payments.

[APRIL 23, 1836.

day of

of the public money in tbeir possession, with private the land bill would not have been greater than those deposites to the amount of ten or twelve millions more, now existing? He was not, howeyer, prepared at this with a circulation of twenty.five millions, they have time to say to the Senator from South Carolina whether about twelve or fifteen millions of actual cash' means the adoption of the measure before them would or would ready at any time to meet it; not more than one dollar to not injuriously affect the new States. He did not be every six of their debts.

lieve it would have the effect to prevent speculation, The last catastropbe, the final crush of these banks, it though it might affect many of the cultivators who puris still in the power of Congress to avert. If the public chased in small quantities. This, however, was an im. funds be drawn gradually, but constantly, from its un portant measure; and they ought to be in possession of safe depositories, and divided among the States, though ihe fullest information before they acted on it. His de. a part of the money may be for many years, perhaps sire was that it might be inquired into by one of the for ever, unavailable, yet we may save the country committees of that body; and if, after investigation, it from the calamity which now threatens ber. On this should be found that the measure would be productive subject, the gentlemen who brought the mischief upon of the benefits that had been predicted, why, it would us, and who are still urging it to its consummation, be proper to adopt it. If, on the contrary, it should advise us to be silent, to speak in whispers, lest a dis be found that it would produce embarrassment to the closure of the true situation of things should bring about bonafide purchasers, it would be rejected. the crisis. They caution us not to arouse the sleep Mr. K. then submitted the following amendment: walker, whom they have led to and left upon brink Strike out all after “Resolved,and insert, “that the of the cliff, lest, when his eyes are opened, bis head Committee on Finance be instructed to inquire into the reel, and he topple into the abyss below.

expediency of probibiting the receipt, in payment for A word as to this resolution. I see its full bearing public lands, of any thing but gold and silver, after the and effect, or I think I see it, but I am not prepared to

;" thus changing the character of the vote for or against it, for I do not yet know precisely resolution from that of an order to bring in a bill to one the situation in which the western banks and the west of mere inquiry as to the expediency of doing so. ern currency are placed. I presented to the Senate, Mr. SHEPLEY said it was with extreme reluctance several days ago, a circular of the Clinton Bank in Cos that he said a word at that time. He had imposed silence lumbus, one of the three deposite banks in Ohio, claim- upon himself upon personal considerations; but he could ing to themselves, in fact exercising, a portion of the not permit the remarks of the Senator from Ohio (Mr. legislative power of Congress, requiring the other banks Ewing) to pass without notice, lest his silence might be of the State, on pain of the discredit of their notes, to pay supposed to admit their accuracy. I do think (said Mr. a price for permitting them to be received in payment s.) that he is greatly error if he supposes that the for public lands; and on my motion you sent a resolution prediction was not made that the Treasury would be to the Secretary of the Treasury, inquiring of him unable to meet the just demands upon it. I cannot mis. whether he had vested this power in any of the deposite take the import of the expressions wbich I heard two banks. To this we have as yet received no answer; and, years since upon this floor.' They were too deeply in. until that answer come, I am not prepared to vote on teresting; they were too forcibly impressed upon my this resolution. If that answer tell us that the people of mind to allow me to do so. I do not profess to use the the West are subject and are to continue subject to this language, but only to convey the idea, ihen so frequentmiserable petty tyranny, and that all their financially and emphatically exhibited, that we were to have an operations are to be placed under such control, I will empty Treasury. The Senator from Massachusetts (Mr. resort to almost any measure, however dangerous, to Websten] imputes the evils of the currency, and the rescue them from such degrading and vexatious imposi- Auctuations and speculations in business, to the refusal tion. I hope the resolution will lie over until the Secre. to renew the charter of the Bank of the United States. tary's answer is received.

Sir, (said Mr. S.,} I allege that these evils have been Mr. CALHOUN observed that he should be very occasioned by the action of that very bank, or at least much governed in the vote he should give on this occa. have been greatly aggravated by it. We need only resion by the opinions of gentlemen coming from the new cur to the history of the last five or fourteen years to be States, where the public lands were. He saw a great satisfied of it. many advantages that would result from the measure, In 1831 the loans of the bank to the people were, if and particularly in the check it would give to thai he recollected rightly, about forty-two millions. The spirit of speculation by wbich bank rags were given in next year they were raised to seventy millions. In 1834 exchange for the valuable public domain. if the gen. they had become reduced again to nearly forty millions; tlemen coming from the West were of opinion that and in 1835 they were again very high; and this year the measure would not affect the settlement and pros reduced again. This was but the brief history of its perity of the new States, he would cheerfully give it liis operations for five years. It had been producing fuc; support.

triations in the money market, uncertainty in prices, and Mr. KING, of Alabama, said he did not intend to en. an insecurity in property, during the whole of that short ter into the discussion of this question, and would only period. The direct tendency of such a course was subremark that gentlemen seemed to have travelled out of versive of honest industry, of regular business

, and their way to discuss questions long since gone by, either breaking up all calculation for future action. No de to show that distress and ruin had not taken place, or pendence could be placed upon any state of things, that it had resulted from certain causes which were ap- present or past; for a new change is hastened on to parent to them. Now, these questions were not to be break up all of regularity that might otherwise have setiled there, but were to be settled by the people of been looked for. It was to these excesses of expansion the United States. Whether the vetoes of the President and depression of its loans, four times in five years, to had, as alleged by the gentleman from Massachusetts, the amount of many millions at each time, that he chargé caused the derangement of the currency, was a queso ed the evils which they had experienced. These were tion which the people could decide as well, and proba- the fruits, the blessed fruits, of a national bank. This

, bly better than gentlemen on that foor. With regard the practical benefit of that mighty institution which to the superabundance of the Treasury, they all knew that it would not have occurred had the land bill passed; the country, and to pour out blessings upon the people.

was to regulate the currency and business operations of but the question was, whether the evils resulting from Sir, (said Mr. S.,) i do not believe there has existed &

APRIL 23, 1836.]

Specie Payments.




country upon the face of the earth where the fluctua cal to a spirit of liberty, which he preferred to all the tions in the moneyed system have been as great, and the wealth and splendor of the great cities. Banks, railroads, changes as sudden, for any term of twenty years, as stock companies of every description, might be useful; they have been in this country during the twenty years' but he was opposed to them all, because, in his opinion, time that the charter of that bank has existed.' The they were inconsistent with the true spirit of liberty.

banks might have contributed the share. He He repeated that he would give this measure his hearty was no apologist for those which had done so. When support if, in the opinion of the western gentlemen, it the United States Bank increased its loans by millions would not retard the settlement and prosperity of the upon millions, they had naturally pursued the same new States. course of increase; but, compared with the United Mr. CALHOUN agreed with the Senator from North States Bank, their excesses had been small; and he had Carolina as to the appointment of a select committee, never yet noticed a State bank that had increased and and hoped that it would be appointed by the Chair, se. decreased its loans in the proportion of fifty per cent. lecting a majority from the new States. to that of the United States Bank. The United States In reply to the Senator from Connecticut, he would Bank had been the mischief-maker, instead of the regu. observe that, during the time of the pecuniary pressure, lator, in the moneyed concerns of the country. It had

he said nothing, because he believed that it would be been the instrument for putting property up, and for temporary. He never did doubt that the removal of putting it down, at pleasure. It could change the rela. the deposites would produce the greatest distress, and tion of debtor and creditor, so that the creditor might the most disastrous consequences; but he always did not obtain more than half his debt; or the debtor might believe that there would be an excess in the Treasury. be compelled to pay double, by the great changes occa We make great mistakes in supposing that certain events sioned in the prices of property.

do not follow their causes, because they do not come at He was no more for schemes or projects than the Sen

In the ordinary course of Providence, causes and ator from Massachusetts. He was for adhering to prac. their consequences are frequently remote; but this was tical experience; and the experience which they had no reason for neglecting the caution, that the one neces. had taught them, that they should no more trust the sarily followed the other. destinies of their country to the machinations, the Auc The great distress that pervaded the country, the tuations, the fictitious prosperity, and the fictitious ad- changes of property, and the derangement of the curversity, occasioned by the United States Bank. The rency-all these were seen and predicted; and the pres. Senator, two years ago, when the bank was calling in its ent majority were justly chargeable with them.' He loans at the rate of from one to three millions a month, never had any thing to do with the Bank of the United justified that course, and regarded it as the necessary States, though he opposed the removal of the deposites, and proper duty of the bank to continue to call in its as leading to a ruinous derangement of the currency by loans until the end of its charter. He took occasion the unlimited use of State bank paper. Since that then to express the opinion that there was no necessity measure, one hundred millions had been added to the for it, and that it was done “designedly, unnecessarily, currency by these banks, which would not have been to compel obedience to the bank." And what was the the case had there been a Bank of the United States to result? Soon after the adjournment of Congress, the control them. As to the superabundance of the Treas. bank, instead of following the course alleged to be ne. ury, he had always foreseen it. Ever since the fatal cessary, extended its loans, and continued to extend tariff of 1828, he foresaw the evil, and his subsequent them, until the millions which it had called in were course, which had brought on him so much opprobrium, thrown out again. And now complaint was made against (he alluded to the proceedings of South Carolina in opthe State banks that they had done a little of what that position to the tariff,) was dictated by the knowledge bank had done much.

ihat this tariff would produce an overwhelming accumuIf the measure now before them could be adopted | lation of money in the Treasury, which ought never to without injury to the new States in the West, he was be there. There was a deep responsibility on those who disposed to vote for it; but upon that subject he was had caused these evils. But let us, said, he, not look to not sufficiently advised at the time to form an opinion. the past, but to the future. Let us apply what remedies It might do something towards protecting us from those are in our power; and, above all, let us endeavor to great and sudden changes in our moneyed concerns present this noble domain, the public lands, from passwhich had marked their history for the last five years. ing out of our hands into those of speculators, in ex.

Mr. MANGUM rose, not for the purpose of prolong. change for worthless bank rags. His only desire was ing the discussion, but to suggest to the Senator from that the measure under consideration should be approved Alabama the expediency of referring the resolution to a of by the western gentlemen, and, if it was so, he should select committee, instead of the Committee on Finance. give it his hearty support. This measure contemplated an important change in the Mr. PORTER said he could not agree in opinion with currency of the country, and he preferred that it should the honorable Senator from North Carolina. He was be left in the charge of its friends, who better under unwilling the party should have their full swing on the stood it. He was perfectly ready to vote for it, if it currency; certainly, it would be no more than practical came recommended by the gentlemen from the new justice they should, if they were to be the only suffer. States; and he was willing to do so, because he looked But the country would be the principal victim. It upon it to be a remedy against speculations in the pub. was said by the greatest of English statesmen, (Lord lic lands, and because it might possibly bring about a Chatham,) that public credit was like the sensitive sounder state in the circulating medium. He thought plant--touch it, and it dies; that public credit mainly the present debate an unprofitable one. All this bandy. rested on a sound and unfluctuating currency. The ing of reproaches tended to no good; they had better tendency of the resolution moved by the Senator from set about applying some remedy to the evils which all Missouri was to produce a great and sudden change in acknowledged to exist, than to waste time in criminating it. He (Mr. P.) thought that such an alteration, in these each other. He had taken no part in this unprofitable times of inordinate expansion, would produce a fatal discussion, because his opinions were so primitive that shock on the whole commerce and trade of the republic. he almost feared to express them, lest they should be He believed its influence would not be alone confined to scouted at. They might be chimeras; but he believed the western States; it would extend over the whole that all these wealthy corporate institutions were inimi. | Union; and he therefore saw no reason for selecting the



Specie Payments.

(APRIL 23, 1836.


committee solely from western members. The amount was entirely unsound; and it could not be restored in a of the sales of public land last year was fifteen millions; day or week. It is the work of years to restore a healthy the whole specie in the country forty-five millions. This action to a depraved currency: all hasty and great specie, as we all know, was, or ought to be, the great changes only increase the evil. Under any management, basis on which banks discounted and made issue of therefore, the institution could not have accomplished paper. To subtract such a sum from their vaults, de such a great object at once. He, (Mr. P.,) however, posite it in land offices, or keep it in transitu between believed that the affairs of the bank were not wisely ihe several points where it might be required for Gov. conducted on its first organization. The fatal spirit ernment uses, must necessarily produce an immense of speculation which had seized the whole community contraction in discounts, of a sum not less than thirty at ibe close of the late war, had full possession of the millions. Such a change, at this moment, would be minds of that portion of it which were first selected absolutely fatal to public credit, and must prove ruinous to administer the bank, and the pernicious effects of to the community.

their wildness were early seen in a derangement of its Mr. P. observed that it had been said it was im- concerns, and a depreciation of the value of its stock. proper 10 make the subject of our currency the subject It soon, however, righted itself, and justified public ex. of conversation and debate here, as the discussion only pectation. Institutions of this kind, from their immense tended to bring on the evil which all wished to avoid. capital, are always able to command the highest talents He did not, however, think so. It was here that, if there and purest virtue for the administration of their con. was any prospect of the mischief correcting itself, it

The bank called them to its service; and from would be better to look quietly at its workings, and the period Mr. Cheves was placed at its head to the await the return of sober and correct action by the close of its affairs under the direction of Mr. Biddle, il State banks. But the bistory of the past, and a slight fully and faithfully accomplished the purposes of its cre. knowledge of the strong principle of self-interest, which ation. Without referring to detailed statements to suswas ever active, and often blind, forbade any such hope. tain the assertion, Mr. P. said he would first bring Nothing could avert the evil but a wide-spread convico | under the notice of the Senate the state of our currency tion of ihe dangers which awaited us. The public mind at two periods--the one immediately after the bank be. ought to be instructed of the present state of things, and gan to exercise its wholesome authority over State emis. their tendency. The mass of the community were sound sions, the other at the period when it was assailed by in their principles on this as on all other questions; and The Executive in 1820 and 1830. At the first mentionit was our duty to warn them aguinst the delusive ed epoch, according to the account laid on our tables schemes and wild projects by which the cunning and this year by the Secretary of the Treasury, the circulathe speculating part of society were striving to convert tion of the United States was $44,863,344; at the last the fruits of the labors of the industrious portion of it mentioned, $61,323,898, showing merely an increase of into their unclean pockets. Mr. P. said he almost de between sixteen and seventeen millions in ten years; an spaired of a correction of the evil, yet he still hoped for increase which every one must admit was but justly projis alleviation. If the State banks would only look at portioned by the increase of our wealth and population their permanent interest, instead of immediate advan. during this space of time. I doubt (said Mr. P.) if the tage; and would act on the principle that they must history of the world can show any thing which more finally be the victims of an excessive issue of their notes, strikingly illustrates sound management than this; and and consequent total derangement of the money circula- the recollections we all have of the steady and progrestion of the country, things might return to a much bet. sive improvement of the country during the period just ter state than they are now in; though nothing like se

stated, its absence from all sui'den changes, prove tricurity could, be admitted, be found, unless in å system umphantly how well the system worked. which enabled the federal Government to regulate a Since the year 1830, however, our circulation has machine which had a constant tendency towards de doubled. The Senator from Maine says this increase is rangement.

due to it, and to it alone; at one time increasing its disReference (said Mr. P.) had been made in debate to counts, and at another time reducing them; and now the the situation of our currency previous to the expiration distress is owing to its contractions. If, said Mr. P., the of the charter of the late United States Bank. The bank is now calling in and husbanding its resources, as contrast was most humiliating; but gentlemen on the the Senator states, while, at the same time, the circulaother side need not expect that it would not be frequent. ting medium is increasing, it is not easy to see how his ly presented to their contemplation. With our impres. conclusion follows the premises he professes to base it sions, we should be faithless to our trust if we did not, on. I believe, however, (said Mr. P.,) that all the changes on all proper occasions, place it before the eye of the made by the bank during the four years' war waged American people. The cause of our present evils, and against it were only such as were forced on it by the the proper remedy for them, are best found in the con wild and furious attacks constantly made on the institutemplation of the past. There could not be a doubt tion, and the uncertainty which they naturally produced that if the United States Bank had been rechartered, we

in all financial operations. should be in a far different and better situation than we One word, Mr. P. said, before he concluded, in relation are now placed in. It was with great surprise (Mr. P. to the hard-money currency wbich the Senator from suid) that he had heard the Senator from Maine charge Missouri was laboring to introduce. He (Mr.P.) did not on the bank that it had been the means of deranging believe it was possible to introduce it; and if we could our currency during the whole time it was in existence: be brought back to it, he doubted its utility. It could nay, more, that it was to it we now owed its unsettled not be disguised that the system, though the safest, was condition. He wished the Senator had given us his data not that best adapted to the wants of a commercial for these assertions: he should have preferred facts to people. The two most eminently commercial of all declamation on a question of this kind. Mr. P. said nations, England and the United States, bad used, as a that the knowledge be possessed of the conduct of that means for becoming so, a paper circulation. Gold and institution had led bim to a totally different conclusion. silver currency necessarily wanted the capacity of exten. The Senator had said that, for the first four years after sion, which was almost indispensable, to meet the fiuc. its establishment, it had totally failed to regulate the tuations to which commerce was inevitably subject; and circulating medium of the country. Nothing was they could not be expanded to supply the wants of a

It was created at a time when that medium I country which, every twenty-five years, was doubling its

more true.

April 25, 1836.]

Slavery in Arkansas- Navy Bill.


population, and more than quadrupling its wealth. We them that, in presenting their memorial, he should feel should find, it was true, in a gold and silver currency, a it to be his duty to state these facts to the Senate. With complete exemption from the evils to which paper this course on his part they were satisfied, and still concirculation was subject; but we would lose by it the tinued their request that he might present the memorial, immense advantages which that circulation conferred; He now did so with great pleasure. He hoped it might the energy it imparted; the enterprise it fostered and be received by the Senate with all respect it so highly sustained. To it, even in its unhealthy and ill-regulated deserved. He asked that it might be read; and as the action, Mr. P. firmly believed, we are in a great meas. question of the admission of Arkansas was no longer be. ure indehted for an unmatched progress in private fore us, he moved that it might be laid upon the table. wealth and public improvements of all kinds, during the The memorial was accordingly read, and was ordered last half century. He thought a well-regulated paper to be laid upon the table. currency the best adapted to the condition of this grow

NAVY BILL. ing country. Experience bad shown us we could regu. Jate it; and he trusted he would live to see the day when The Senate proceeded to the consideration of the bill it would be again well regulated. The habits of our making appropriations for the support of the navy fur citizens being now accustomed to it, he believed it would the year 1836; and the amendments reported by the be almost impossible to change them. And if we could Committee on Naval Affairs being read, change them, that change could not be brought about Mr. WRITE said he would be glad if some member by laws making gold and silver only a tender in the of the committee would explain the objects of these fiscal transactions of the general Government, because amendments, and why so large an increase of the approthe still greater amount of private commerce would priations made by the House was deemed necessary by continue to be carried on in paper, and the State banks

them. bad a constant interest to take up the specie, and substi [The amendments increased the appropriations of the tute their paper in its place. He was willing, however, House nearly two millions of dollars.] the subject should receive consideration, provided the

Mr. SOUTHARD explained that the increase of the opinion of Congress could be at once obtained on it. appropriations, particularly the largest increase, (five He believed that every member of this body had his hundred and seventy thousand one hundred and sixty opinion on this subject made up, and was prepared to dollars,) was for keeping a greater number of vessels yote on it.

afloat than was recommended by the Executive at the On motion of Mr. MOORE,

commencement of the session, thereby incurring a great The Senate then adjourned.

additional expense for the pay and subsistence of the

officers and seamen. The increase of this item of exMONDAY, April 25.

penditure had been recommended in a communication

received from the Navy Department, since the receipt SLAVERY IN ARKANSAS.

of the President's message at the opening of the session. Mr. BUCHANAN presented a petition from the So It was also contemplated by the committee to employ ciety of Friends in Philadelphia; on the presentation of four steam vessels for the defence of the coasts, and to which he addressed the Senate to the following effect: fit up three of the ships of the line, to be used as re

Mr. B. said he rose to present the memorial of the ceiving ships at each of the three navy yards, at Boston, yearly meeting of the religious Society of Friends, New York, and Norfolk; but so far completed as to be which had been recently held in the city of Philadelphia, in a situation to be fitted for sea at a very short notice, remonstrating against the admission of Arkansas into the should the defence of the country require it. The other Union, whilst a provision remained in her constitution increased appropriations were for dry docks, completing which admits of and may perpetuate slavery. This a steain vessel, a navy hospital, and a powder magazine yearly meeting embraced within its jurisdiction the at Boston and New York, and for the purchase of sites greater part of Pennsylvania and New Jersey, the whole and the erection of barracks at Brooklyn, Gosport, and of the State of Delaware, and the Eastern Shore of Ma Pensacola, not provided for by the House of Representaryland. The language of this memorial was perfectly tives. respectful. Indeed, it could not be otherwise, consici. Mr. HILI said the amendments proposed by the Comering the source from which it emanated. It breathed mittee on Naval Affairs in the Senate provided for an adthroughout the pure and Christian spirit which bad al dition to the bill as it had passed the House of nearly two ways animated the Society of Friends; and although he millions of dollars. It added simply to the pay of offi. did not concur with them in opinion, their memorial was cers and seamen of the navy, more than half a million. entitled to be received with great respect.

He was unable to divine why this great addition to the When the highly respectable committee which had navy expenditures was now to be made. When the bill chargeof this memorial called upon bim this morning, was first taken up by the House of Representatives, our and requested him to present it to the Senate, he had foreign affairs, in a highly critical state, seemed to refelt it to be his duty to inform them in what relation he quire an increased expenditure, and the bill had passed stood to the question. He stated to them that he had the House, making considerable increase. Yet this was been requested by the Delegate from Arkansas to take not enough. The chairman of the Naval Committee, charge of the application of that Territory to be admitted [Mr. SOUTHAND,) who a few days ago made a speech in into the Union, and that he had cheerfully taken upon favor of distributing among the several States twenty. bimself the performance of this duty. He also read to seven millions of dollars, now recommends an addition them the 8th section of the act of Congress of 6th of other millions to the naval appropriation. How genMarch, 1820, containing the famous Missouri compro llemen can vote for these extravagant, these uncalledmise; and informed them that the whole Territory of for appropriations, at the same time they vote to dis. Arkansas was south of the parallel of 36 degrees and a tribute the surplus, he (Mr. H.) would not attempt to half of north latitude; and that he regarded this com explain. lle was anxious to see who of this body were promise, considering the exciting and alarming circum in favor of these appropriations; he wished the ayes and stances under which it was made, and the dangers to the noes to be placed on the journal on the principal amend. existence of the Union which it had removed, to be al. ments proposed by the Naval Committee. It was indeed most as sacred as a constitutional provision. That there extraordinary that the Executive should now recommiglit be no mistake on the subjeci, he had also informed mend these increased expenditures over and above what

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