SENATE.]

New Hampshire Memorials.

[APRIL 29, 1834.

States; and praying Congress to adopt such measures as evils. I have recently had opportunity of obtaining init may deem expedient for their relief. formation of the present situation and prospects of the On presenting the above memorials, Mr. BELL ad- manufacturers of cotton and woollen goods in New Engdressed the Chair as follows: land; and I fully concur in the views and opinions exMr. President: I have been requested to present to pressed by the memorialists respecting them. I believe the Senate memorials from the towns of Somersworth and with them, that any considerable duration of the present Dover, in the State of New Hampshire, upon the subject state of the currency, and the want of confidence resulting of the general distress inflicted upon the country by a late from it, will inevitably put a stop to all these manufactuunjustifiable act of the Executive. The memorial from ring establishments, excepting such as are owned by Somersworth contains four hundred and fifty signatures, wealthy capitalists. No other branches of industry will and that from Dover more than five hundred. The char-suffer so extensively and ruinously as these must, from an acter, situation, and employments of these memorialists, adherence to this Executive experiment upon the curentitle their statements and opinions to the most respect-rency. This will necessarily result from the nature of the ful consideration. The citizens of these towns are as in- business, and the manner in which it is generally conducttelligent, moral, and industrious, as any other portion of ed. These manufactures are carried on chiefly by incorthe population of our country. These are manufacturing porated companies, which have, in addition to their fixed towns, engaged in the cotton and woollen manufactures. capital, consisting of buildings and machinery, a small Their establishments for carrying on these manufactures money capital, sufficient only for the management of their are amongst the largest in the United States. They have business, by the aid of the customary credits. Their manbeen brought to their present condition by an expenditure (ufactured goods are generally sent to commission merapproaching to four millions of dollars. When in full chants in the cities on the seaboard, from Boston to operation, they give employment to three thousand per- Baltimore. The commission merchant advances to the sons. They pay annnally in wages nearly half a million manufacturer upon the receipt of the goods a consideraof dollars. They have afforded a very valuable market to ble portion of their value. He sells, generally, upon a the agriculturists of the surrounding country. The ad credit, and guaranties the solvency of the purchaser, for vantages derived from this market are apparent in the im- which he receives an indemnity in the form of a commisproved and prosperous condition of the country in the sion upon the sale. This is the manner in which this buvicinity of these towns. These memorials are not in the siness has been generally conducted by most of the large same words, but they state substantially the same facts, and nearly all the small manufacturing establishments. It express similar opinions, and solicit the same measures of can no longer be conducted advantageously in this way. relief. The memorialists represent that business of all The commission merchant is unable to make the customkinds is suffering under a most severe and unparalleled ary advances to the manufacturer upon the receipt of his depression. They say that until the removal of the Gov. goods, because the banks decline to make to him the ernment deposites from the United States Bank, pros-usual discounts. He is even unwilling to take the responperity and an active spirit of enterprise pervaded the sibility of guarantying the solvency of his purchasing cus community in their vicinity; that the price of labor was tomer, from the increased hazard of failure, resulting from unusually high; that trade, agriculture, and the mechanic the state of the currency and the general want of confiarts, rewarded those who pursued them by liberal profits. dence. We have, for several years, manufactured coarse The memorialists assert, that, since the adoption by the cotton goods, to an amount far beyond a supply of the Executive of those measures which have produced a de- wants of the United States. This surplus has been regurangement of the currency, every kind of business and larly sent to foreign markets, and sold at a remunerating enterprise has been rapidly declining, until every depart- price. The exportation of these goods is now greatly diment of industry and exertion seems to be completely minished, not because of a reduction of their price in paralyzed. The price of labor has fallen, and the demand foreign markets, for these prices are not materially chanfor it so diminished as to leave the industrious without ged, but because the exporting merchant is crippled in his profitable employment. The profits of trade and manu- means of purchasing. He cannot, as formerly, obtain factures are diminished almost to nothing, and, in many loans at the banks, and his fears of increasing embarrassinstances, are turned into positive loss; and that a general ments, and want of confidence, damp his spirit of enterfeeling of insecurity and distrust pervades the community. prise, and induce him to provide for his own safety by The memorialists add, that their manufacturing establish- contracting his business. The warehouse of the manuments must inevitably stop their operations, unless a fa- facturer is full of goods, for which he cannot find a marvorable change is speedily effected in the financial affairs ket. The stock necessary to continue his business, can of the country, so as to enable them to make sales of their be obtained only for cash, or at best on a short credit. manufactured goods, and pay their laborers. They have, The banks, where he has usually obtained loans, refuse they say, already begun to discharge their hands, and that to increase them in proportion to his increased necessities. already families begin to feel distress for want of employ-Their own situation not only compels them to refuse new ment whereby to earn the necessaries of life. The me- loans, but induces them to call in a proportion of those morialists declare that, if these evils were pressing upon which had been previously made.

them from natural and inevitable causes, they would bear In consequence of these embarrasments, resulting netheir sufferings, however great, with patience and with- cessarily from this unjustifiable act of the Executive, many out complaint; but they sincerely believe that the embar- of the manufacturing establishments of New England have rassment and distress which universally pervades the been compelled to suspend, either partially or entirely, country, can be distinctly traced to the extraordinary as their operations. It has been stated, upon good authorisumption of power by the Executive over the Treasury ty, that more than seventy thousand cotton spindles have of the nation and the currency of the country. And they been stopped in the vicinity of Providence, in Rhode respectfully, yet most solemnly, protest against the right Island, alone. It is within my knowledge, that many of of any individual, however exalted his station, to put at the factories in New Hampshire and Massachusetts have hazard the vital interests of the country, by experiments suspended their business, and that many others have deon the currency. termined to dismiss their laborers and close their factories, The memorialists conclude by asking Congress to take unless a speedy change in their prospects shall prevent such measures as shall restore the currency to its accus-it. An entire prostration of this great interest will probtomed channels, and thereby relieve the country from its ably result from this high-handed and unauthorized act present distress, and the apprehension of still greater of the Executive, unless measures are speedily adopted

APRIL 29, 1834.]

Signers to Bank Memorials.—Polish Exiles.-Hanover (Pa.) Proceedings.

The motion having been agreed to

[SENATE.

to relieve the country from the evils which it has produHANOVER (PA.) PROCEEDINGS. ced. Those who believe that the existing distress is con- Mr. WILKINS moved that the Senate take up the confined to the cities, and that it will soon subside without sideration of the proceedings and resolutions from Hanolegislative interference, will in due time discover the fal- ver, Pa., presented to the Senate by Mr. CLAY on the lacy of that opinion. The cities are indeed the first to 25th instant, which, on Mr. WILKINS's motion, were then suffer from such causes, but the solvent city merchant (after debate) laid on the table. soon relieves himself by contracting his business, and by calling upon the country trader, to whom he has given, Mr. WILKINS said, that, when these resolutions had credit, for payment. The country trader calls upon the been presented to the Senate, his attention was attracted by agriculturalist, the mechanic, the laborer, and the manu- the peculiar harshness of the censure cast upon the Govfacturer, to whom he had given credit, to furnish him the ernor of Pennsylvania, in the first branch of the resolumeans of paying his city creditor. The agriculturalist, tion read, and which, it was presumed, had fed the Senfrom the lessened demand for and reduced price of his ator from Kentucky into a misapprehension of his charproduce, the mechanic and the laborer from diminished acter and popularity. He had no disposition to say a employment and reduced wages, and the manufacturer word in relation to the right of the people to express from the entire suspension or reduced profits of his busi- their opinions on all public men and public measures; but ness, are unable to respond to his calls, without making on this occasion, he deemed it proper to correct the ruinous sacrifices. Thus that which brings partial relief to errors into which the gentleman [Mr. CLAY] had fallen, the city, transfers the distress to the country. Evils like when he undertook to comment on the public character this are never of short duration. Years will probably pass of Governor Wolf. The political adversaries of this genaway before the country will be restored to that prosperi-tleman charge him with no errors in the administration of ty from which this unjustifiable and vindictive act of the the Government of the State; and in the absence of facts, Executive has precipitated it. This Executive experi- which might be supposed to bear on questions of public ment has already thrown thousands of families out of those policy, the sweeping denunciation of "vacillating and employments which afforded their only means of obtain: time-serving" was pronounced against him. Now every ing a comfortable support, and if persisted in will extend trait in the public and private character of that officer, to the remotest districts of the country, and bring distress gives a negative to the charge preferred against him in and ruin upon all classes excepting the rich moneyed the resolution from Hanover. He is neither "vacillating" capitalist and the salaried office-holder. in policy on measures deeply affecting our interest, nor time-serving" as a statesman on questions which involved differences of opinion throughout a vast portion of our country. Those who know him, cannot but in candor Mr. CLAY moved to take up the report containing an award him the merit of being firm and persevering in his account of the aggregate number of individuals who had patriotic career. And to the unwavering purposes of signed memorials for and against the United States Bank. Governor Wolf, in these respects, is Pennsylvania much By the report, it appeared that 114,914 persons had pe-indebted for the early completion of a system of internal titioned for relief from the distress consequent upon the improvement, so justly the pride of an intelligent and inlate act of the Executive, and 8,721 had presented me-dustrious people. At one time the expediency of our morials of an opposite character. Mr. C. moved that the improvements, and the whole canal policy, involved report be printed, with 1,000 additional copies. Mr. FORSYTH would like to know how many persons had signed memorials from the city of Philadelphia.

The memorial was then read, referred to the Committee on Finance, and ordered to be printed.

SIGNERS TO BANK MEMORIALS.

The SECRETARY intimated that he could not immediately give this information. The account of the meetings in Philadelphia was not in a condensed form—was scattered over the report.

Mr. FORSYTH then, with the permission of the Senator from Kentucky, would move to lay the report on the table until to-morrow. He would examine it in the mean time, and procure the information he required. Mr. CLAY had no objection.

POLISH EXILES.

doubts, and for a while the action of Government was arrested-it was even believed a majority of the Legisla ture would make an impression unfavorable to measures recommended by the Executive. Was is at this peculiar crisis that Mr. Wolf manifested a "vacillating and timeserving" conduct in the administration of our affairs? Certainly not. He persevered with our friends of the system, until completion has at length united all parties in the pleasing anticipations that the welfare and prosperity of the State, by means so zealously pursued under his auspices, must be onward and triumphant. Neither the censure contained in the resolution read, nor the comments of the gentleman by whom the proceedings from Hanover were presented, can be sustained in referMr. POINDEXTER, with the leave of the Senator from ence to the measures of Governor Wolf's administration. Pennsylvania, would make a report. The Committee on Mr. W. said the presumption was, that the proceedings Public Lands, to whom was referred the petition of 235 referred to, and the honorable Senator's erroneous opinPoles, recently arrived in this country, had intrusted him ions growing out of the same, had been predicated on a to make a report, accompanied with a bill. The commit- message from the Executive sent to the Legislature on tee did not recognise the policy of granting land, gener-the 26th February last, in which he considered the deally, to foreigners who sought refuge on these shores; plorable condition into which the financial concerns of but were of opinion than an exception should be made in Pennsylvania had been brought. The attention of the favor of the gallant and unfortunate strangers, in the pres- Senate he would call to the opinion of the Chief Magisent case. After passing a eulogium upon Poland and trate of his State: it was clear, manly, and unequivocal; her noble sons, the report went on to describe the pecu-and was delivered under a deep conviction from the best liar case of the petitioners, and concluded by recommend- evidence, that the Bank of the United States had improping that a portion of land be granted to them in Michi-erly and wantonly interfered to injure and depress the gan, or some other suitable Territory. Mr. P. said he credit of Pennsylvania. The following was read from would ask that the bill he had presented be made a spe- Governor Wolf's message of the 26th February last: cial order for Thursday week. If any thing were done in Various causes have been assigned for this alarming this matter, it was necessary that it should be done quick-state of things, all more or less plausible. Among others, ly. The early attention of the Senate would enable the it is said that the removal of the deposites from the Bank House to act upon the subject during the present session.of the United States by the General Government, has been The proposition was agreed to. the means of producing all the mischief and pressure

SENATE.]

market.

under which the country is now laboring; and yet many In 1829, said Mr. W., when the country was not agiof the friends of that institution admit that a restoration tated by the removal of the public deposites, the credit of of the deposites is not necessary to a relief of the money my State was seriously affected by the combination of a moneyed power, connected with the Bank of Pennsylva"Whatever other causes may exist, it cannot be dis-nia, at that time seeking a renewal of its charter. The guised that we have among us a powerful moneyed insti- fiscal embarrassments and momentary depression of our tution, which is at this time seeking, by all the means of credit, interestedly and artfully produced, although they which it is capable, to accomplish certain objects indis-succeeded, he might say, in coercing a renewal of the pensable to its existence; and, having an energetic, a firm, charter, yet not without stipulations advantageous to the and unbending antagonist to contend against, all its ener- public interests. Mr. W. was desirous to detail a stategies and all its powers (and they are of no ordinary char-ment of a particular fact, not generally known, and bearacter) have been put in motion to defeat his measures, and ing on this case. How far the bank has had an agency to frustrate his designs in relation to it. in the transaction, every man will decide for himself.

"It can scarcely be doubted, from the course of opera- Mr. W. would draw no conclusion, nor should he undertions that institution has been pursuing for some time past, take to ascribe any sinister motive to the directors of the (whether justifiable or not, I will not undertake to deter-bank. In the act for the renewal of the charter of the mine,) that the State is indebted in a great measure for Bank of Pennsylvania, it is stipulated that the bank, if its disappointments heretofore, and for the failure to ob-called on, is to loan to the Commonwealth one million of tain its loans of Saturday last. Whether by bringing in-dollars annually, at an interest of 5 per cent., for the term discriminate ruin and distress upon an unoffending com- of three years, after the 1st of January, 1831. But the munity by the bank, is the most certain mode of obtaining State was obliged to demand or give notice of the requia return of the public deposites, or a renewal of its char-sition by the first of January, in each year. Of course, it ter, or an extension of time to wind up its business, is a will be perceived, the right of the State of Pennsylvania question for those who have the direction and manage- to make the call for one million of dollars ceased on the ment of its affairs to determine. The State of Pennsyl- 1st of January, 1834, by limitation in the charter. On vania may be crippled and embarrassed in her pecuniary the 16th of December preceding, the Messrs. Allens, who arrangements, and paralyzed, for a time, in her efforts had contracted for our loans, paid the usual monthly into complete her great chain of improvements, by the de- stalment, and no intimation was given of their inability to pressing policy of the bank, but that is no reason why we meet their subsequent monthly engagements. Now, let should despair of the commonwealth. Our public works it be distinctly marked, that it was in their letter dated on may languish for a season, but will not be suffered to lan- the third day of January, addressed to the Governor, that guish long. The resources of the State are ample; her they first communicated their disastrous news of "prescredit is unimpaired; her public stocks, although under a sure" in the money market, and first intimated their want momentary pressure at home, are highly acceptable of means to meet future engagements. abroad, and will, before long, be as eagerly sought after by the capitalist as ever; the crisis of our pecuniary affairs must soon arrive, if we have not already reached it; the clouds of despondency and distress which have been, in my humble estimation, inconsiderately and heedlessly brought upon us, must soon be removed, and a happy change and a more prosperous era must inevitably await

Mr. W. would ask, why was this important information withheld until after the critical day of the first of January had irrevocably passed, when the State might have demanded of the Bank of Pennsylvania one million of dollars, at an interest of five per cent., under the charter to aid in the completion of the public works? The interest of the Messrs. Allens, connected with their liabilities to the State, could not have been injured by frankly Mr. W., in continuation, observed, that, from the best imparting the intelligence at an earlier day. The agensources of information in possession of the Executive of cy of the Bank of the United States in this transaction Pennsylvania, the Governor was deeply impressed with Mr. W. did not pretend to understand. Those who

us.

the conviction that the Bank of the United States had heard him must form their own judgments. But it must improperly pursued a course, for some time previous to never be lost sight of, and can never be forgotten by this message, calculated to bring "indiscriminate ruin Pennsylvania, that the Allens have acknowledged the cuand distress upon an unoffending community," and that the power of the bank to do mischief, and oppress the country, became apparent from the efforts ascribed to that institution, whether justifiable or not, in relation to the public loans.

rious and striking fact, that the kind interference of the Bank of the United States had enabled them to pay the instalment on the 16th of December, 1833, only two weeks before the expiration of that month, with the end of which also expired the provisions of an act which had On the memorable 26th of February last, all eyes were prudently been made to meet any wants in our financial turned towards Harrisburg. An expression of opinion concerns! If this condemning fact be true, the Bank of by the Legislature or Executive respecting the bank, at the United States (during the distress in the money this peculiar period of momentary embarrassment in the market, and after the diminution of their own means) financial operations of our State Government, was a sub-aided the Allens to pass the critical day of the first of ject of no inconsiderable solicitude and deep interest January, and the moment that hour had passed, and our with the friends and adversaries of that moneyed institu- embarrassments were sealed, they slipped the plank tion every where. Harrisburg appeared to be regarded from under the Allens, and suffered them to sink! It is as the scene of action at this momentous crisis, where the enough to repeat, that the aid given just before, was allied armies of the bank intended to rally. It was evi- withheld immediately after the first of January! Whether dent, that in this political warfare Pennsylvania was view-this was a scheme or a combination between these broed as the "Belgium" of the continent, and that the bat-kers and the Bank of the United States, I do not pretend tle of "Waterloo" was to be fought at the seat of Gov-to determine, said Mr. W. But it is true, that our credit ernment. Every effort was exerted to procure an ex- was destroyed; our financial concerns so embarrassed as pression favorable to the renewal of the charter, and a to threaten, if not entirely to overthrow, our whole restoration of the deposites; but the course of policy scheme of State policy and internal improvement. Not which had marked the directory of that institution for a dollar could be borrowed, nor even a bid obtained for some time previous, had sealed its condemnation with the temporary loan of $300,000. Our five per cent. the Executive, Legislature, and a vast portion of the peo- loans, which had been up at 114 and 114, sunk down to ple of Pennsylvania. par. All was dismay. Our Executive and Legislature,

APRIL 29, 1834.]

Hanover (Pa.) Proceedings.

[SENATE.

deeply impressed with this appalling state of public af- of that election, not to political considerations, but to the fairs, it became necessary for the Chief Magistrate to act. circumstance that it was the place that gave birth to a son He did not proceed rashly-he was at the source of in- so distinguished, and of whom she had every reason to be formation, and had continued intercourse with the friends so proud. Had the election terminated otherwise, and and adversaries of the bank. And after viewing the had not the good people of Hanover given their votes for whole ground, and ascertaining all the facts bearing upon their native son, I would then say they ought to suffer the existing state of things, he honestly formed his own "Long-and-Hungry," to be trampled under "Negroopinion, and, under all the solemnity and responsibility foot," and to have the name of their county changed to of his high office, on the 26th February last, in the per- that of "Hell-town." formance of his duty, made a communication to the Le- Mr. CLAY said, that he thought the Senator from gislature, on the disordered state of their financial con- Pennsylvania [Mr. WILKINS] should have imitated the cerns. At this time, the Governor, Executive officers, more prudent example of his colleague, and silently left Legislature, and a great portion of the people of Penn- the conduct of Governor Wolf to its own vindication. sylvania, took their stand, and assumed their present atti-The explanation of the Senator has not justified it. The tude, in reference to the conduct of the Bank of the people of Hanover district, in York county, charge their United States. Chief Magistrate, in resolutions which relate to the deNow, Mr. President, I do not pretend to ascribe to that posites and the Bank of the United States, with a vacilmessage or that attitude, the success and prosperity which lating and time-serving course. The charge must be unimmediately followed; but, sir, it is very certain that, im-derstood as referring to the subject of the deposites and mediately after this frank but modest expression of opin- of the Bank. And what is the defence of the Senator? ion, our credit revived; the temporary loan of $300,000 That the Governor is very firm and uniform in respect to was presently taken; the larger loan of $729,000 at five the internal improvements of Pennsylvania! But he exper cent. was also contracted for; and the whole amount pressly admits the alleged vacillation, when he acknowlof money necessary for the prosecution of our admirable edges that the Governor has recently been for the bank, policy is offered to us, and for which there will, no doubt, and is now against it. be considerable competition. From the moment of which Mr. President, when the Governor's unexpected mesI speak, when we assumed this position adverse to the sage arrived here, it was felt by all parties that he had Bank of the United States, Pennsylvania stocks began to thrown his great weight into the scale of the President. rise, and they are already up at 108, and are ascending. It was blazoned forth by the administration party and The Senator from Kentucky asks me from what quarter prints, that the Governor had come out in favor of the comes this money? I answer, from the other side of the removal of the deposites, and against the bank. It was Atlantic, where our credit never has been impaired. Gov-felt here, as the Senator from Georgia expressed it, as a ernor Wolf was right when he intimated that the im-damper. It was believed that several votes in another proper conduct and machinations of the bank might part of the Capitol, which had been doubtful, were deembarrass us at home, but could not affect us abroad, cided by it. where our vast resources, and our punctuality in comply- And on what evidence does the Governor, in his very ing with our engagements were well known and properly modest charge against the bank of carrying ruin into an appreciated. Surely, the Senator from Kentucky will unoffending community, rely? We have it officially, in not complain that our character stands so high with Eu-a document dated eight days after the date of the Governropean capitalists, and that they are willing to send their or's message, that, although about nine millions of public money, at a low interest, across the ocean, to build up our deposites had been withdrawn, the bank had only lessendomestic improvements, and to complete a policy upon ed its accommodations to the public about four millions. which Pennsylvania believes the happiness and prosperity of her citizens depend.

Instead, therefore, of the bank withdrawing its accommodations and preparing to wind up, as the President intended, and thereby inflicting distress upon the community, it had actually forborne to call in a sum equal to one-half of the withdrawn deposites.

I have no right to speak of the private sentiments of Governor Wolf, in relation to the Bank of the United States, not having had the honor of any correspondence with him this winter; but, if I am permitted to throw out But it seems, and he (Mr. C.) was glad of it, that before the Senate any presumption upon the subject, I Pennsylvania had obtained foreign capital to aid in the might say, I think it likely he is opposed to the re-charter completion of their laudable works of internal improveof the present bank. What his opinion upon the ulti-ment-that foreign capital, the acquisition of which is mate question of a national bank may be, I cannot tell. reprobated by the President of the United States! He Mr. W. concluded by saying: Mr. President, I ascribe (Mr. C.) would admit the great advantage to a young and what I will not call by the harsh name of an attack upon growing people of such acquisitions. But he would inthe Governor of Pennsylvania, but the error into which quire how the Bank of the United States did ever prethe Senator from Kentucky has fallen, in reference to his vent, or could prevent, at any time, the Governor of character, to the circumstance or curious coincidence of Pennsylvania from negotiating loans abroad? names which seems to have given him unusual animation With respect to the message of the Governor, Mr. C. of spirits on Friday last. It appears that upon that morn- believed it susceptible of proof that, not three days being he received the news of the result of the elections in fore the message was sent in, the Governor expressed Hanover, Virginia, and, at the same time, these proceed-different sentiments, and avowed himself in favor of a ings from Hanover, Pennsylvania, were put into his hands. re-charter of the Bank of the United States. The SenaThis coincidence appears to have flushed the gentleman tor admits his change of opinion about the bank. What with certain victory, and his manner of communicating has produced it? Although the President asserts, in his the intelligence induced me, for a moment, to suppose we cabinet paper, that new facts had been disclosed since the were all prostrated, and, for a while, I was overcome by large majority of the House of Representatives declared, great political depression. I took my seat under great at the last session, the safety of the bank, not one solita"pressure" and "distress," not knowing that I possessed ry new fact of any importance has come out. As to the sufficient philosophy to bear me up under the overwhelm-circulation of printed documents by the bank, that fact, ing tidings of such political adversity. But I was imme- and all other charges made by the Executive against it, diately relieved and cheered when this Hanover, in Vir- were as well known at the last session of Congress, and ginia, was announced as the birth-place of the Senator as well known to the Governor at Harrisburg, when he from Kentucky. I then immediately ascribed the result expressed an official opinion in favor of the re-charter, as

SENATE.]

Hanover (Pa.) Proceedings.-President's Protest.

[APRIL 29, 1834.

they now are. What, then, has changed the opinion of a principle can be found. The language of this commuthis firm, consistent, and uniform magistrate? nication is certainly respectful, decorous, and courteous Mr. President, our systems, Federal and State, are so to this body. Not one harsh expression is used by the interwoven and blended; the public acts of one system Chief Magistrate. This, even the gentleman from Virexert such influence upon the other; that I feel myself ginia, [Mr. LEIGH,] who does not view this paper, or any fully authorized in commenting upon the official conduct other act of the President, with too favorable an eye, adof any public man; especially when I feel that it has pow-mits; therefore, no exception to its reception, in respect erfully operated on the public councils of which I am an to the language employed, can be maintained. humble member; and more especially when the people It is said, however, that some of the principles and of Pennsylvania had, without any solicitation, devolved doctrines it contains are unsound. Even if this were so, on me the duty of presenting resolutions, in which they which I by no means admit, it would constitute no obbring forward in bold relief the conduct of their Gov-jection to its reception; because the Senate, by receiv ing it, gives no sanction to them. They are the President's views and opinions, not the views and opinions of the Senate, more than the sentiments contained in an annual message, which may be entirely at variance with the opinions entertained by the Senate. Still, such communications, and all others, made in the progress of the ses

ernor.

The honorable Senator says, the great battle of Waterloo was fought at Harrisburg. If it were, Governor Wolf was the Marshal Grouchy of the day, who failed to bring up his corps on the side of the constitution, laws, and prosperity of his country.

After some further remarks, by Mr. MANGUM and Mr.sion by the Chief Magistrate, are always received, entered CLAY, the motion to refer the memorial was agreed to.

Mr. WEBSTER gave notice that he would to-morrow call up the military appropriation bill from the other House, now lying on the table; and that he should move to suspend the debate on the special order, for the purpose of going into the consideration of Executive business.

PRESIDENT'S PROTEST.

The Senate then proceeded to the consideration of the special order, being the resolutions offered by Mr. PoINDEXTER, as modified by Mr. CLAY.

The question being on the motion of Mr. BIBB to amend

upon the Journals, and printed by order of the Senate. If, then, a well-founded objection exists, it must be in this: that the President should not have addressed the Senate at all upon this subject. Gentlemen on the other side say that such a message has never been transmitted by any President of the United States to this body. To this I answer, that the Senate, at no former period, has done an act which called for such a message. This body never, until this session, has passed a vote of censure upon a Chief Magistrate. Was Washington ever accused of crime by this body? Was the elder Adams, Jef ferson, Madison, Monroe, or the younger Adams, ever condemned by a vote of the Senate? Were either of Mr. GRUNDY addressed the Chair as follows: them ever formally accused of usurping power not Mr. President: Men are never so much exposed to er-granted by the constitution or the laws, and by a deliberror as when called on to decide upon the propriety of ate vote of this body pronounced to be guilty? No, their own conduct, or the extent of their own rights and never! privileges; and the danger is greatly increased when the If, then, there be any thing of novelty in this proceeddecision is to be made amidst high public excitement, ing of the Executive, it has its origin and justification in produced by the contests of political parties. This is at the conduct of the Senate; and in every controversy of this moment the condition of the American Senate. This this kind, it is material to ascertain which party is the asbody has done an act, the propriety of which is gravely sailant, and which merely stands on its defence, in order called in question by the head of another independent de- to determine who should be answerable for the consepartment of the Government, who considers himself deep-quences that may follow.

the Senate.

ly implicated, and much injured, by the proceedings of The power of the Senate, and the propriety of adopting the resolution complained of by the President, is deIt is a controversy of no ordinary character. The par- fended upon the ground that it is preparatory to a legisties to it are high public functionaries-as high as any lative act. The history of this proceeding will best test known to our Government or constitution. This contro- the correctness of this allegation. The resolution was versy, if carried out to the extent contemplated by some introduced on the 26th of December last, in company with gentlemen, may even shake the pillars of the fairest polit-another, declaring that the reasons assigned by the Secreical fabric ever erected by the wisdom of man.

tary of the Treasury were insufficient and unsatisfactory. Under this view of the subject, can it be right that Sen- After a discussion of some months, the other resolution ators should act under the impulse of angry passions? So was referred to the Committee on Finance. This refer far from it, it seems to me that cool deliberation, sober ence was with a view to legislative action. This every reflection, and, I will add, extreme caution, befit the oc- Senator knew; it was so avowed and understood by all. casion. I will not, therefore, obey the invocation of the But this resolution remained upon the table of the Senate, Senator from Mississippi, [Mr. POINDEXTER,] when he because it was apparent that no legislative act could be asks Senators to bring their indignant feelings into action predicated upon it. If gentlemen designed that legisla in the consideration of this subject. So far from it, ex- tion should spring out of this resolution, why was it not cept that agitation which the importance of the occasion referred also to the appropriate committee? The concluproduces, I will be calm, and command every turbulent sion is irresistible; none was designed by this body, what. and violent feeling to be still. Others may contend for ever may have been the expectation of particular memvictory. My humble labors shall be directed to the bers. The other resolution contains fit matters for Consafety of the republic, and the tranquillity of the country.gress to act upon. They can provide for the safe keepFor the first time in the history of this Government, ing of the public moneys in any depositories they please, now in operation 45 years, a motion is made to reject, or and they ought to do so; nor shall we have discharged not to receive, a message from the President of the our duty to the country without making suitable provisUnited States. This step can derive no aid or sanction ions upon that subject at the present session. Congress from precedent. It has never been done before. No can also prescribe the terms and conditions upon which such proposition is to be found on the records of the the public moneys shall be drawn from these depositories. proceedings of this body. If it can be justified, it must be upon some principle existing in the case itself.

I propose, in a brief manner, to examine whether such

They can throw what safeguards they please around the public treasure; and the President and all other officers will be bound to conform to the regulations thus pre