He

country upon the face of the earth where the fluctuations in the moneyed system have been as great, and the changes as sudden, for any term of twenty years, as they have been in this country during the twenty years' time that the charter of that bank has existed. The State banks might have contributed their share. was no apologist for those which had done so. When the United States Bank increased its loans by millions upon millions, they had naturally pursued the same course of increase; but, compared with the United States Bank, their excesses had been small; and he had never yet noticed a State bank that had increased and decreased its loans in the proportion of fifty per cent. to that of the United States Bank. The United States Bank had been the mischief-maker, instead of the regulator, in the moneyed concerns of the country. It had been the instrument for putting property up, and for putting it down, at pleasure. It could change the rela tion of debtor and creditor, so that the creditor might not obtain more than half his debt; or the debtor might be compelled to pay double, by the great changes occasioned in the prices of property.

He was no more for schemes or projects than the Senator from Massachusetts. He was for adhering to practical experience; and the experience which they had had taught them, that they should no more trust the destinies of their country to the machinations, the fluctuations, the fictitious prosperity, and the fictitious adversity, occasioned by the United States Bank. The Senator, two years ago, when the bank was calling in its loans at the rate of from one to three millions a month, justified that course, and regarded it as the necessary and proper duty of the bank to continue to call in its loans until the end of its charter. He took occasion then to express the opinion that there was no necessity for it, and that it was done "designedly, unnecessarily, to compel obedience to the bank." And what was the result? Soon after the adjournment of Congress, the bank, instead of following the course alleged to be necessary, extended its loans, and continued to extend them, until the millions which it had called in were thrown out again. And now complaint was made against the State banks that they had done a little of what that bank had done much.

If the measure now before them could be adopted without injury to the new States in the West, he was disposed to vote for it; but upon that subject he was not sufficiently advised at the time to form an opinion. It might do something towards protecting us from those great and sudden changes in our moneyed concerns which had marked their history for the last five years.

Mr. MANGUM rose, not for the purpose of prolonging the discussion, but to suggest to the Senator from Alabama the expediency of referring the resolution to 'a select committee, instead of the Committee on Finance. This measure contemplated an important change in the currency of the country, and he preferred that it should be left in the charge of its friends, who better understood it. He was perfectly ready to vote for it, if it came recommended by the gentlemen from the new States; and he was willing to do so, because he looked upon it to be a remedy against speculations in the public lands, and because it might possibly bring about a sounder state in the circulating medium. He thought the present debate an unprofitable one. All this bandy ing of reproaches tended to no good; they had better set about applying some remedy to the evils which all acknowledged to exist, than to waste time in criminating each other. He had taken no part in this unprofitable discussion, because his opinions were so primitive that he almost feared to express them, lest they should be scouted at. They might be chimeras; but he believed that all these wealthy corporate institutions were inimi

[SENATE.

cal to a spirit of liberty, which he preferred to all the wealth and splendor of the great cities. Banks, railroads, stock companies of every description, might be useful; but he was opposed to them all, because, in his opinion, they were inconsistent with the true spirit of liberty. He repeated that he would give this measure his hearty support if, in the opinion of the western gentlemen, it would not retard the settlement and prosperity of the new States.

Mr. CALHOUN agreed with the Senator from North Carolina as to the appointment of a select committee, and hoped that it would be appointed by the Chair, selecting a majority from the new States.

In reply to the Senator from Connecticut, he would observe that, during the time of the pecuniary pressure, he said nothing, because he believed that it would be temporary. He never did doubt that the removal of the deposites would produce the greatest distress, and the most disastrous consequences; but he always did believe that there would be an excess in the Treasury. We make great mistakes in supposing that certain events do not follow their causes, because they do not come at once. In the ordinary course of Providence, causes and their consequences are frequently remote; but this was no reason for neglecting the caution, that the one necessarily followed the other.

He

The great distress that pervaded the country, the changes of property, and the derangement of the currency-all these were seen and predicted; and the pres ent majority were justly chargeable with them, never had any thing to do with the Bank of the United States, though he opposed the removal of the deposites, as leading to a ruinous derangement of the currency by the unlimited use of State bank paper. Since that measure, one hundred millions had been added to the currency by these banks, which would not have been the case had there been a Bank of the United States to control them. As to the superabundance of the Treas ury, he had always foreseen it. Ever since the fatal tariff of 1828, he foresaw the evil, and his subsequent course, which had brought on him so much opprobrium, (he alluded to the proceedings of South Carolina in opposition to the tariff,) was dictated by the knowledge that this tariff would produce an overwhelming accumu lation of money in the Treasury, which ought never to be there. There was a deep responsibility on those who had caused these evils. But let us, said, he, not look to the past, but to the future. Let us apply what remedies are in our power; and, above all, let us endeavor to prevent this noble domain, the public lands, from passing out of our hands into those of speculators, in exchange for worthless bank rags. His only desire was that the measure under consideration should be approved of by the western gentlemen, and, if it was so, he should give it his hearty support.

ers.

Mr. PORTER said he could not agree in opinion with the honorable Senator from North Carolina. He was unwilling the party should have their full swing on the currency; certainly, it would be no more than practical justice they should, if they were to be the only sufferBut the country would be the principal victim. It was said by the greatest of English statesmen, (Lord Chatham,) that public credit was like the sensitive plant-touch it, and it dies; that public credit mainly rested on a sound and unfluctuating currency. The tendency of the resolution moved by the Senator from Missouri was to produce a great and sudden change in it. He (Mr. P.) thought that such an alteration, in these times of inordinate expansion, would produce a fatal shock on the whole commerce and trade of the republic. He believed its influence would not be alone confined to the western States; it would extend over the whole Union; and he therefore saw no reason for selecting the

We

population, and more than quadrupling its wealth. should find, it was true, in a gold and silver currency, a complete exemption from the evils to which paper circulation was subject; but we would lose by it the immense advantages which that circulation conferred; the energy it imparted; the enterprise it fostered and sustained. To it, even in its unhealthy and ill-regulated action, Mr. P. firmly believed, we are in a great measure indebted for an unmatched progress in private wealth and public improvements of all kinds, during the last half century. He thought a well-regulated paper currency the best adapted to the condition of this growing country. Experience had shown us we could regulate it; and he trusted he would live to see the day when it would be again well regulated. The habits of our citizens being now accustomed to it, he believed it would be almost impossible to change them. And if we could change them, that change could not be brought about by laws making gold and silver only a tender in the fiscal transactions of the general Government, because the still greater amount of private commerce would continue to be carried on in paper, and the State banks had a constant interest to take up the specie, and substitute their paper in its place. He was willing, however, the subject should receive consideration, provided the opinion of Congress could be at once obtained on it. He believed that every member of this body had his opinion on this subject made up, and was prepared to vote on it.

On motion of Mr. MOORE, The Senate then adjourned.

MONDAY, APRIL 25.

SLAVERY IN ARKANSAS.

Mr. BUCHANAN presented a petition from the Society of Friends in Philadelphia; on the presentation of which he addressed the Senate to the following effect:

Mr. B. said he rose to present the memorial of the yearly meeting of the religious Society of Friends, which had been recently held in the city of Philadelphia, remonstrating against the admission of Arkansas into the Union, whilst a provision remained in her constitution which admits of and may perpetuate slavery. This yearly meeting embraced within its jurisdiction the greater part of Pennsylvania and New Jersey, the whole of the State of Delaware, and the Eastern Shore of Maryland. The language of this memorial was perfectly respectful. Indeed, it could not be otherwise, consid ering the source from which it emanated. It breathed throughout the pure and Christian spirit which had always animated the Society of Friends; and although he did not concur with them in opinion, their memorial was entitled to be received with great respect.

When the highly respectable committee which had chargeof this memorial called upon him this morning, and requested him to present it to the Senate, he had felt it to be his duty to inform them in what relation he stood to the question. He stated to them that he had been requested by the Delegate from Arkansas to take -charge of the application of that Territory to be admitted into the Union, and that he had cheerfully taken upon himself the performance of this duty. He also read to them the 8th section of the act of Congress of 6th March, 1820, containing the famous Missouri compromise; and informed them that the whole Territory of Arkansas was south of the parallel of 36 degrees and a half of north latitude; and that he regarded this com- promise, considering the exciting and alarming circumstances under which it was made, and the dangers to the existence of the Union which it had removed, to be almost as sacred as a constitutional provision. That there might be no mistake on the subject, he had also informed

[SENATE.

them that, in presenting their memorial, he should feel it to be his duty to state these facts to the Senate. With this course on his part they were satisfied, and still continued their request that he might present the memorial. He now did so with great pleasure. He hoped it might be received by the Senate with all the respect it so highly deserved. He asked that it might be read; and as the question of the admission of Arkansas was no longer before us, he moved that it might be laid upon the table. The memorial was accordingly read, and was ordered to be laid upon the table.

NAVY BILL.

The Senate proceeded to the consideration of the bill making appropriations for the support of the navy for the year 1836; and the amendments reported by the Committee on Naval Affairs being read,

Mr. WHITE said he would be glad if some member of the committee would explain the objects of these amendments, and why so large an increase of the appropriations made by the House was deemed necessary by them.

[The amendments increased the appropriations of the House nearly two millions of dollars.]

Mr. SOUTHARD explained that the increase of the appropriations, particularly the largest increase, (five hundred and seventy thousand one hundred and sixty dollars,) was for keeping a greater number of vessels afloat than was recommended by the Executive at the commencement of the session, thereby incurring a great additional expense for the pay and subsistence of the officers and seamen. The increase of this item of expenditure had been recommended in a communication received from the Navy Department, since the receipt of the President's message at the opening of the session. It was also contemplated by the committee to employ four steam vessels for the defence of the coasts, and to fit up three of the ships of the line, to be used as receiving ships at each of the three navy yards, at Boston, New York, and Norfolk; but so far completed as to be in a situation to be fitted for sea at a very short notice, should the defence of the country require it. The other increased appropriations were for dry docks, completing a steam vessel, a navy hospital, and a powder magazine at Boston and New York, and for the purchase of sites and the erection of barracks at Brooklyn, Gosport, and Pensacola, not provided for by the House of Representatives.

Mr. HILL said the amendments proposed by the Committee on Naval Affairs in the Senate provided for an addition to the bill as it had passed the House of nearly two millions of dollars. It added simply to the pay of officers and seamen of the navy, more than half a million. He was unable to divine why this great addition to the navy expenditures was now to be made. When the bill was first taken up by the House of Representatives, our foreign affairs, in a highly critical State, seemed to require an increased expenditure, and the bill had passed the House, making considerable increase. Yet this was not enough. The chairman of the Naval Committee, [Mr. SOUTHARD,] who a few days ago made a speech in favor of distributing among the several States twentyseven millions of dollars, now recommends an addition of other millions to the naval appropriation. How gentlemen can vote for these extravagant, these uncalledfor appropriations, at the same time they vote to distribute the surplus, he (Mr. H.) would not attempt to explain. He was anxious to see who of this body were in favor of these appropriations; he wished the ayes and noes to be placed on the journal on the principal amendments proposed by the Naval Committee. It was indeed extraordinary that the Executive should now recommend these increased expenditures over and above what

SENATE.]

[APRIL 25, 1836.

purchase by the United States. He believed the doc. trines of the Chief Magistrate were correct. They were not called on to decide the question whether reve nue arising out of all sources was constitutionally sub

[Mr. SOUTHARD having explained that the estimates differing from those of the House resulted from a changed view of the importance of the navy, and said they were derived from the commissioners of the navy-] Mr. HILL continued: He would not regard communications coming from a subordinate bureau of any Department, as executive recommendations; he could not, knowing their sentiments in relation to the Chief Magistrate, take the recommendations of the navy commissioners as his guide.

The hour of one o'clock having arrived, Mr. CALHOUN moved to lay the bill on the table, for the purpose of taking up the special order; which motion was agreed to: Ayes 16, noes 11.

LAND BILL.

The bill to distribute the nett proceeds of the sales of the public lands among the States, and for granting lands to certain States, was then taken up as the special order of the day; when

He

Mr. WHITE said the circumstances with which we were now surrounded were not only novel, but were different from those of former times when a debt was due by the nation, and no money in the Treasury beyond the sum necessary to meet the ordinary expenses of the Government. Now the nation owed not one cent, and the Treasury was full to overflowing. In this state of things, after satisfying every ordinary demand on the Government, every man supposed a surplus would be left. For the distribution of this surplus, various projects had been offered, and this among the rest. had compared this one with each of the others, with a view to make a selection of that one which he conceived most advantageous to the country. The question arose, has Congress the power to make this distribution? If it had not, then the inquiry into the expediency or policy was useless. Some years ago it was foreseen that there would be a surplus; and, if he was not mistaken, the President had made a communication in relation to it. The Secretary of the Navy, (Mr. Dickerson,) when in Congress, had made a report on the subject in 1825'26, from which he read extracts to show the great advantages he (Mr. D.) thought would result from an equitable distribution of the revenue for purposes of education and internal improvements, which report, Mr. W. said, was not confined to the revenue from one source or another, but embraced the whole revenue, and that it even recommended a distribution of a portion of the revenue in anticipation of the gradual extinguishment of the national debt; and asserted that it would relieve Congress from a great source of unnecessary legislation. When the present Chief Magistrate came into power, so far as he knew in the section of country in which he lived, it found very considerable favor among the mass of the people. He quoted the recommendation of the President to distribute the surplus revenue in a ratio of representation among the States, and that, if there were any constitutional doubts, to apply to the legitimate source, the States, for their removal. He cited the report of the Secretary of the Treasury (Mr. McLane) in 1831, in favor of the constitutional power of Congress over the revenue from public lands, to appropriate them to the purposes of education and internal improvement. No distinction was observed in the message of the President. But the Secretary of the Treasury saw difficulties ahead, and seized upon it, and suggested how it should be met by

he asked, to correct the mistakes of the Government in collecting the revenues? Suppose, said he, you esti mate fifteen millions as the amount necessary for the expenses of Government, and when you come to collect it, it amounts to seventeen millions, must you let those two millions be locked up for ever? Or have you the power to correct the mistake by returning the excess to the people from whom it comes? In cases where the Government took from an individual more money than was due from him, where, he asked, did they get the power to refund? They had the power to assess and collect taxes, and to pay him out of it. It would be thought strange if one man, in settling with another, should not have the power to correct mistakes; and why should not the Government have the same power as individuals. He agreed with the President, that where a doubt of the power existed it ought not to be exercised. But the question is, said he, whose money is it you have got in your Treasury? You don't know who you received it from, and therefore cannot return it to its proper owners. All the public lands were acquired either by deeds of cession or by purchase. The deed of cession from Virginia in 1784 contained an express provision that these funds were to be applied for the benefit of all the States in the Union, or that should thereafter be admitted.

But it was said this deed was made before the new confederation, and before which each State contributed its proportion to the support of the Government. Suppose, said he, that form of Government had continued, and the national debt had been paid off, and it had acquired a surplus, as it has now. In that case, he asked, what became of the question, what shall be done with the surplus revenue? They could dispose of it only by distributing it on the same principle by which it was paid If they were obliged to appropriate, as other appropriations, that was another matter, in which the question of distribution was not involved.

in.

Al

It had been objected that, in making a distribution among all the States, they would include the grantor as well as the other States. If his views were correct, they would not only have the right to make appropria tions as trustees, but it was their bounden duty, under the old confederation, to return the excess to the States. He cited a clause in the sixth article of the constitution to show that a change of Government was not intended to change the relative rights of any of the States, but that they stood in the same situation as before; and also cited authorities to show that Congress had clearly the power over the fund arising from the public lands. though they had a general power to collect taxes, yet that power was necessarily limited to the objects for which it was given. If, by giving a section of land along a line of canal, it would increase the value of the rest, nobody would doubt the power of Congress to do so. But it was said that Louisiana and Florida were pur. chased. How were the lands in these new States acquired? By the avails of the public lands, which ena bled the Government to purchase more lands; and these newly acquired lands in Louisiana and Florida would be decreed in a court of chancery to be held, as the other lands were held, in trust by the Government. With this view of the subject, his mind was clearly settled down that Congress had the power to distribute the surplus revenue from the public lands. But it was said that, after all the appropriations were made, there would be only four or five hundred thousand dollars to dispose of. Insettling this question, he doubted the propriety of going

Abolition of slavery; (see Slavery.)
Adjournment, resolution for fixing the day of, taken up,
962; adopted, 981.

day of adjournment fixed for the 4th of July, 1780. |
Alabama; a bill for the better organization of the dis-
trict court of that State, 13.

pre-emption rights; a report on the memorial of the
Legislature of that State, 721.

and Mississippi five per cent. fund; a bill to carry
into effect the compacts of, 1458; passed.
resolution authorizing the President to cause
rations to be issued to supply sufferers from
Indian hostilities, 1537; laid on the table, 1593.
Alexandria; memorial on the financial condition of that
town, 46.

Appropriation bill for the civil and diplomatic expenses
of the Government for the year 1836; read
twice, and referred, 1249; taken up, 1399;
passed.
Appropriations for the navy for 1836, 1278; taken up,
1296; passed.

Appropriations for the army for 1836, 1413; read three
times, and passed.

Indian department, 1458; passed, 1739.

to carry into effect certain Indian treaties, 1928;
passed.
Arkansas, a message from the President, with the pro-
ceedings of a convention in that Territory, to
form a constitution, 782.

a bill to provide for the admission of Arkansas
into the Union, 934; passed, 1056.

do. in addition to the above act, 1577; passed.
Army of the United States, resolutions respecting, 386.
do. for the religious instruction of, 391.

bill to increase the military peace establishment,
1657; rejected, 1757; passed, 1854.
Armories, arsenals, &c.; a bill to establish them, 1882;
passed.

Bayard, the Hon. Richard, from Delaware, took his seat

in the place of Mr. Naudain, resigned, 1848.
Bennett, Caleb P., the memorial of citizens of Delaware,
praying for his pension to be continued to his
widow, 1642.
Bond and Douglass, Colonels, a bill for the relief of the
legal representatives of their widows, 1230;
passed, 1254.

Bourtoulin Count a resolution authorizing the purchase
of his library; rejected, 1694.

Brahan, John; report of the Secretary of the Treasury,

in answer to a resolution on the subject of mo-
ney paid by the legal representatives of the
late General Brahan, to the United States dis-
trict attorney, 1898.

Bullion for the mint; a bill to supply the mint with bul.
lion, 1090.

Carey & Lea's History of Congress; a joint resolution
proposing a subscription for it, 614; referred.
Catlett, Charles J., a bill for his relief; passed, 1872.
Chaplain, Rev. Mr. Higbee elected, 42.
Choctaw lands; a resolution proposing to suspend the
sales of these lands, 1412.

reservations; (see Pre-emption claims.)

treaty; a bill for adjustingc ertain claims under
the 14th article of the treaty of Dancing Rab-
bit creek, 1936; laid on the table.

1

Colonization Society; a petition from citizens of Ken-
tucky, recommending the society to the favor-
able notice of Congress, 1901.
Columbia, District of, a bill for the relief of the several
cities, 466, 964; taken up, 1449; passed, 1453.
Documentary History of; a resolution authorizing
the Secretary of the Senate to collect and pub-
lish such a work, 498; referred.

resolution to authorize the commissioner to rent
out the public grounds, &c., 1154.
Committees, standing; the Senate proceeded to their
election by ballot, 11.

Congress; a resolution proposing that the Judiciary Com-
mittee inquire into the expediency of fixing, by
law, the commencement and close of every ses-
sion of Congress, 42; agreed to, 45.

a bill to appoint a day for the annual meeting of
Congress, 1649; passed.

above bill returned, vetoed by the President, as
conflicting with the constitution, 1757.

the subject taken up, 1859, 1878; bill rejected.
a bill to fix a day for the annual meeting of Con-
gress, 1880; indefinitely postponed, 1908.
Constitution; a resolution to amend it, so as to provide
for a distribution of the surplus revenue, 52.
Constitutional currency; a bill to re-establish the curren-
cy of the constitution, 1745.

Cumberland road; a report from the Secretary of War,
on the construction of the road in Indiana and
Illinois, 34.

a bill to continue the road as proposed, 390; ta-
ken up, 615; passed, 811.

a bill making an appropriation for do., 4633.
Custom-house officers, a report from the Treasury De-
partment concerning, 34.

Dade, Major, petition in favor of, referred, 613.
Dauphin, Pennsylvania, memorial; (see Free negroes.)
Defence of the frontiers; a bill reported to accept the
services of volunteers, 1385.
Delaware breakwater; a bill making additional appropri-
ations for it, 1928; passed.

Deposite banks; a motion to print extra copies of the Sec-
retary of the Treasury's statement of their af-
fairs, 839; agreed to, 847.

District banks; a joint resolution in relation to them, 63.
a bill to extend the charters of, 1577; passed,
1720.

Duties on imports; a bill to repeal the duty on certain ar-
ticles, 704.

wines; a bill to suspend so much of the discrimi-
nating act as relates to the Portuguese islands,
&c., 1123.

imports; a bill to amend the several acts imposing
duties on imports, 1287.

Electioneering agents; a resolution calling on the Secre-
tary of War for information as to the office
held by B. F. Curry, in the Cherokee nation,
178.

Executive patronage; (see Officers.)
Expunging resolution; notice given that it would shortly
be called up, 722; taken up, 877; again, 1593;
laid on the table, 1598.

Florida post roads; a joint resolution authorizing the es-
tablishment of certain post roads, 613.
railroad; a bill to authorize it to run through the
public lands, 664; passed.