H. OF R.]

Bank of the United States.

[JAN. 9, 1832.

be a majority in the House in favor of the bank, gentlemen What would be the effect of refusing to renew the charwould not lend themselves to that kind of action. Could ter, or to act upon the subject, till two years, or till a it be necessary to take up the question of rechartering the single year, before its expiration? Could the gentleman bank at the present session? Gentlemen all knew that from Georgia have reflected upon the consequences? four years must pass before its charter would expire, and That bank had given a credit of $50,000,000 to the people that Congress had power to extend the period, if further of the United States. What did he suppose must be the time was necessary to wind up its affairs. It was known effect of suddenly withdrawing that credit? Its effect, that other subjects of an exciting character must come up not only to the individuals to whom the credit had been during the present session; and could there be any neces- given, but to all others connected with them? It would sity or propriety in throwing additional matter into the be nothing short of utter desolation. Whether the charHouse, calculated to raise that excitement yet higher? He ter were to be granted or refused, the House was bound trusted some individual would follow him who might be in every view of the subject to act upon it now, and to act able to present the subject to the House in a stronger light definitively. A period of four years was not more than than he could. He should be willing, in the very outset, was indispensably requisite to wind up the concerns of to meet it by a motion to lay this memorial upon the table; such an institution. If the consideration of the subject at but he would not make that motion at present, inasmuch this time was necessarily attended with any embarrassas it would preclude a discussion which he wished to see ment, he should regret it; but still he must hold the great proceed. He would, therefore, reserve himself for such leading interests of the country to be paramount to all ultimate action in reference to it as he might consider political and party considerations. If it was in the power proper. of gentlemen to discard all such feelings in considering the great question to which this memorial referred, he earnestly hoped that it might be done.

Here Mr. McDUFFIE interposed, and said that the gentleman had entirely misunderstood him; that he had never made any such assertion.

Mr. CAMBRELENG said he stood corrected. He concurred with the gentleman that the subject ought to be met, but he hoped that, in considering it, the House would deliberate long, and reflect maturely. They would thoroughly examine the great question, whether any bank in the country could have the power to issue a currency from all its branches in every part of the country, payable nowhere.

Mr. McDUFFIE said that, if he even could suppose that the Baltimore convention had had any thing to do with the presentation of the present memorial, he trusted Mr. CAMBRELENG, of New York, said that he hearthat he, at least, would be free from the suspicion of act-tily joined in the wish just expressed by the gentleman ing in this House as the agent of that body, if any man from South Carolina, [Mr. MCDUFFIE,] that the subject in the United States could be free from such a suspicion. might be approached without any thing like political exSo far, however, as regarded the president, directors, citement; but that gentleman and himself must live far and company of the mother bank, he must say, that, so beyond the ordinary length of man's life, if they ever far as his situation had given him an opportunity of having live to see that question separated from party consideraany knowledge of them, (and he had had much to do with tions. If his recollection did not very much deceive him, those gentlemen,) he did not believe that there existed that gentleman, in the beginning of the session, had exwithin the limits of this Union an organized body more pressly said that the bank question would sleep in his comperfectly exempt from any just liability to the charge of mittee throughout the residue of the session. acting from political considerations; and so far from having had the remotest connexion with any political movements, either at Baltimore or elsewhere, he should rather come to the conclusion that the present memorial had been presented after a consultation with the party to which the gentleman from Georgia, as well as himself, belonged, than with those of opposite party opinions. He regretted exceedingly that this should have been regarded as a political question; but it was the misfortune of our country, that no subject of any kind could be started, which had reference to the general interests of the people, but it must instantly be converted into a political question, and Here Mr. McDUFFIE was about to interpose, when connected with that all-absorbing topic, a topic which he Mr. CAMBRELENG said he was not going to enter into feared would one day prostrate the liberty of the country--the merits of the general question; but had risen for the the election of a President. Could not the consideration purpose of suggesting to the gentleman from Georgia of any question, referring to the interests of the country, [Mr. WAYNE] not to move to lay this memorial on the be entered upon, but it must be to put this man into office, table. He was for himself willing and ready to meet the and that man out? Could no question of any kind be dis- subject. He wished also to make an appeal to the gen-` posed of with a calm, impartial judgment? He should tleman from South Carolina, [Mr. MCDUFFIE,] whether deeply regret if any gentleman, in acting on the present he would persist in his motion to refer the memorial to subject, should be influenced by the question, how its de- the Committee of Ways and Means, seeing that if it cision would touch the election of this man or that. He should go to a select committee, that gentleman would could not possibly see how it could have any thing to do occupy in such committee the same station he held with the matter. Why must this be made a political ques- in the standing committee to which he belonged, and tion at this time more than at any other? Did the gentleman whether he would not consent that the subject of recharfrom Georgia suppose that the progress of purification tering the bank should go to a select committee, as it had would be such that at any future time personal considera-heretofore done. He had joined with that gentleman in tions would cease to operate? If, while the present referring so much of the message as related to this subincumbent occupied the Presidential chair, the bank ques-ject to the Committee of Ways and Means. But the contion must of necessity have a political aspect, was it to be sideration of a memorial which would require the whole supposed that two years hence, when there were two or subject to be sifted to the very bottom, was, of itself, sufmore gentlemen candidates for that situation, the discusficient to occupy a committee during the whole session of sion of it would be any more disinterested? No! cried Mr. Congress. The Committee of Ways and Means was McD., it is the imperfection of man that presents the dif- charged with the revenue and finances of the country, and ficulty; and until that shall cease, the gentleman from Georgia will never get out of it. The president and directors of the mother bank had been governed, not by political or party motives in presenting this memorial, but by the obligation under which they lay, not only to the stockholders, but to the Government of the United States.

could not give it that attention which it required. He therefore suggested to the gentleman from South Carolina, whether he ought not, in justice to others as well as to himself, to move the reference of the memorial to a select committee.

Mr. McDUFFIE replied that to do so would not be to

JAN. 9, 1832.]

Bank of the United States.

[H. OF R.

comply with the order of proceeding in the House, inas- before the House was a respectful petition on a subject much as the subject appropriately belongs to the Com

mittee on Finance.

Mr. CAMBRELENG thereupon moved that the memorial be referred to a select committee.

every way fit for the action of the House, and ought to receive its action. Were gentlemen to be deterred from the consideration of the memorial by such reasons as had been offered by the gentleman from Georgia? He hoped M-. COULTER, of Pennsylvania, said that he had not that every man who felt in his own bosom higher and been so fortunate as the gentleman from Georgia, [Mr. nobler principles of action than that gentleman had alludWAYNE,] inasmuch as he had not heard that such a memo-ed to, would not be deterred from the discharge of his rial was this day to be presented to the House, and the duty; that the man who stood there as a representative of only reason he felt any particular interest as to the dispo the people, and felt that he was worthy so to stand, would sition of it, was, that many of the petitioners resided act in such a manner as to show that he was above the within the State from which he came. He had the same reach of such motives. Let him suppose that this House interest in the general subject with other citizens of the was to be wrested from the course of duty and patriotism, country. What was the subject before the House? A and perverted and debased into a mere party machine, petition had been presented from a number of highly re- what, he asked, would be the most direct mode of accom. spectable citizens, on a subject vitally interesting to the plishing such an end? He knew of none more directly nation. Had they not a right to address this House? Had calculated to effect it than that which had been now purthey approached it with an address upon a light and frivo- sued by the gentleman from Georgia. If any gentleman lous subject--a subject improper to occupy the attention on that floor chose to become the trumpeter to blow the of the legislative body? No. It was a subject which rally of party, he might perhaps succeed in carrying a claimed the attention, not only of that House, but of the portion of the House with him; yet he must still believe whole Union--a subject which must undergo the action that House capable, in spite of all such efforts, of decidof the Legislature at some period not far distant. And ing national questions on national principles. He had no how was it proposed to treat these citizens? If he had no idea that the gentleman from Georgia intended to rally a misunderstood the gentleman from Georgia, that gentle-party; but whatever were the gentleman's intentions, man had proposed that these citizens, together with the such alone could be the effect of his remarks; nor could subject on which they petitioned, should be contemptu-he have devised a fitter mode to effect such an object. ously thrown under the table, and that on the ground He had no doubt the gentleman really felt all the boding that it was a subject not fit at this time to occupy the at- fears he had expressed, but he could not but consider tention of the representatives of the United States. What them as entirely premature. As to the committee to were the reasons advanced in support of this position? which the memorial might be sent, it was to him a matter Why, that the subject of the petition partook of a party of no very great consequence. The only difference becharacter, or that the presentation of the petition was tween sending it to a select committee, and sending it to connected with certain other political movements in the the Committee of Ways and Means, is this, that in the country. This might be a good reason with the gentle- Committee of Ways and Means he had the utmost confiman from Georgia, as he very possibly was in the secrets dence, but he might not feel quite as much in a select of the party that had met at Baltimore, but as for himself committee. He saw no reason why the subject should he was not. He stood on that floor, as a representative of not take the same course which it had hitherto done. The the people; prepared to act on the subjects which in that Committee of Ways and Means was raised expressly to capacity might be brought before him. He was governed consider questions connected with the revenue; and he by no such considerations-he knew of no connexion of asked whether this subject did not naturally connect itself the memorial with any party, or other proceedings at with the duties of such a committee. None could doubt Baltimore. All he knew was, that the petitioners resided it. From the days of Alexander Hamilton, until that day, in the State of Pennsylvania; that they had a right to they had been closely connected-so closely, that, to use present the memorial, and had acted properly in doing so, the eloquent expression of the gentleman from South and a mere allegation that the paper was connected with Carolina, the one might be called the body and the other political movements at Baltimore, formed no reason why the soul. Why should not the memorial go to the Comhe should not exercise the responsibility which had been mittee of Ways and Means? It belonged to that commitcommitted to him. It had been said that the bank ques- tee by the rules of the House, and it had always been tion always would be connected with the politics of the referred to them as a preparatory step. Why should it country. If that was true, it was an objection that would not be now? He could see no valid reason. It had, to apply equally at all times. But such was not his view of be sure, been objected that that committee had already the subject. He hoped that the great experiment of a expressed an opinion on the general subject. Very true; representative Government had not so completely failed and that was the very reason why he wished to send it that a legislative assembly could not pronounce upon a there. It was parliamentary to refer subjects to commitgreat subject connected with the interests of the country, tees whose views were favorable; and should not a great without being governed by predilections for men, and by question, on which the wisest statesmen of the country feelings of mere party politics. The moment he should had bestowed their thoughts, and expressed their opibe compelled to believe that, he should conclude that the nions, go to a committee whose views were in its favor, great republican experiment had failed; for it was the when matters of the most trivial moment were subject to same to him whether a despot on the throne domineered that rule? The object in that very proper parliamentary over the country, or some demagogue, who issued his rule was that a measure proposed might be presented in proclamations, from a committee room, or elsewhere, con- the most favorable manner--that it might, so to speak, trolled public opinion, and ruled the country. If great have a fair chance; and, in the language of the books on questions of national policy were to be settled on the parliamentary law, that it might not be committed to a paltry politics of the day, or by a mere preference for nurse who would be sure to strangle it. He did not wish individuals, the people ought to know it. It was because to see this memorial strangled. He wished it to go to a he believed that that House was capable of deciding such committee where it would receive the consideration which a question as this of the bank on purely national princi-it merited, in order that it might afterwards receive the ples, that he believed that the present memorial ought to judgment of the House, unprejudiced and fairly exreceive the sanction of that House. He should not enter pressed. upon any considerations which touched the merits of the question; he would only say, in general, that the paper VOL. VIII.--95

Mr. APPLETON said that the subject-matter of the petition was one of the deepest interest to the community.

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Bank of the United States.

[JAN. 9, 1832.

It was most intimately connected with the commercial in- commendation of this mode was, that it would present the terest, but not exclusively so. Every class and every nearest approach to equality in the contest, of which the section of the country were interested in the question case admitted.

whether the charter of the Bank of the United States Mr. MERCER, of Virginia, said it had been conceded should be renewed. He thought that the importance of by all who had spoken, that it was necessary a majority of the interests involved made it proper that the petition the committee should be in favor of the measure referred should be referred to a select committee, who would give to it. All that was contended for was a minority adverse to the subject their undivided attention. The appropriate to it. He thought the object as likely to be gained in the duties of the Committee of Ways and Means had re- Committee of Ways and Means, as by the appointment of ference to the finances of the country, which were cer- a select committee. The fact that, two or three sessions tainly connected, to a certain degree, with this institution; ago, a report favorable to the measure had been made by but, in his opinion, its bearing on the general prosperity that committee, he looked upon as no argument against was a matter of greater and paramount interest. Its re- referring the subject to it now. He wished it to go to lation to a sound currency involved, perhaps, the most the Committee of Ways and Means; and he had looked important question in our whole internal policy. He pretty deeply into the subject. He thought it should go supposed there was no doubt that, whether referred to to that committee, because the terms on which the charthe Committee of Ways and Means, or to a select commit- ter should be renewed, if it were renewed, should accord tee, according to the principles usually adopted in the with those matters and measures of revenue which that appointment of committees, a report would be made in committee had under consideration. Whatever might be favor of renewing the charter. But it was of the utinost his opinion, generally, as to the present administration, importance that a careful and thorough examination he could safely say he had as little to do with party polishould be had, whether some modifications of the exist- ties as any member in that House; but when he saw an ing charter should not be made on its renewal, and what opinion upon this question prematurely obtruded upon should be the terms and conditions. He believed it to them, as it had been by the Chief Magistrate, he must be susceptible of improvement, and hoped a committee condemn him, as he had done his predecessor, when he in would be appointed who would examine the subject advance declared his opposition to measures of internal thoroughly, uninfluenced, if possible, by party considera- improvement. The Chief Magistrate never ought to make tions, which certainly ought not to be connected with this public his opinion as unfavorable to a subject, till brought subject. before him as a matter of legislation. He regarded the Mr. ARCHER, of Virginia, said he did not rise to ex- bank as a public institution, and not in reference to its tend, but to make an effort to repress the discussion. If stockholders. The subject of a national bank had been he had doubted the propriety of avoiding discussion, the thrice discussed by men of ability--in time of peril, and portion we had just heard would be sufficiently instruc-in time of peace; after which it could hardly be said that tive on that point. It had shown that, in the event of its the House now required additional illumination on the subprotraction, we should have, prematurely, not only the ject from the researches of a select committee. He hoped controversy on the main subject, but the party altercation therefore that the memorial would be referred to the supposed to be mixed up with it, which, if displayed here, Committee of Ways and Means. could bring no credit to the House. His [Mr. A.'s] object in rising was principally to make a suggestion to his friend from Georgia, [Mr. WAYNE,] in relation to his own suggestion that he might be induced to make a motion to lay the memorial on the table. He [Mr. A.] should re- Mr. INGERSOLL, of Connecticut, said, the turn which gret to see this course pursued. Like the gentleman the debate had taken, and the frequent allusion made by from Georgia, he was the determined adversary of rein- different gentlemen to the committee to which he becorporation, in every form in which the proposition for longed, would warrant him in troubling the House with the purpose could be presented. He could not consent, a few remarks before this question was disposed of. nevertheless, to meet the memorial by a motion to lay on It was to him, individually, a matter of entire indifthe table, as that would not be the mode of encounter to ference to what committee this petition should be sent, which he was disposed, and which was alone correspond- though he believed that parliamentary usage pointed to ent with the character of his friend from Georgia; that is the Committee of Ways and Means as the appropriate one, to say, a direct mode. If such a motion were made, ad- since that direction had been hitherto given to all other versary as he [Mr. A.] was to the object of the memo-matters relating to the Bank of the United States, as well rial, he should vote against the motion. As regarded the as the finances of the country. Why are gentlemen so disposal of the memorial, it appeared clear to him that a sensitive on this matter of reference? Some time ago, we select committee would be the proper one. This had were told that the parts of the President's message bearbeen the disposal adopted with all former memorials. ing on the bank should not go to the Committee of Ways Why vary the mode now? The subject was of a magni- and Means, because the gentleman from South Carolina, tude to entitle it to a special committee. As regarded the [Mr. MCDUFFIE,] the chairman of the committee, had forCommittee of Ways and Means, with its important func-merly made a report favorable to the bank: but now it tions, were not its hands to be regarded as too full for seems to be conceded, said Mr. I., by my friend from the great attention which this matter must demand? It was Georgia, [Mr. WAYNE,] and is distinctly admitted by the to be remarked, too, that this committee, at a former ses- gentleman from Virginia, [Mr. ARCHER,] that if a select sion, with little variety in its composition, had, in the most committee is raised, the gentleman from South Carolina formal manner, expressed its opinion on the great ques- should, as a matter of courtesy, be placed at the head of tion involved. We ought not, as had been said, to put the it. They are willing to take the chairman of the Commemorial to a nurse which would strangle it. Neither mittee of Ways and Means--our chief-if they can dispose would it be proper to send it to an inquest in which its of him in their own way, and all the present struggle is fate had been prejudged. Let it go to either the Com-to get rid of the rank and file. For his own part, said Mr. mittee of Ways and Means, or a select committee; the chair- I., as one of the Committee of Ways and Means, he should man of that committee would stand as he ought, in the be glad to have the proposed labor transferred to other same relation to it. If the last disposal were adopted, too, hands; but the House should understand the facts as to the majority of the committee would consist, under the how the committee stood on this question. It is objected usage in that respect, of friends of the measure. The re-that they had reported favorably of the bank two years

Mr. DAVIS, of South Carolina, to put an end to the debate on a question of mere reference, moved to refer this memorial to a Committee of the Whole on the state of the Union.

JAN. 9, 1832.]

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[H. OF R.

ago; and from this it is inferred that all the members of for having recommended to their attention, in his message, the committee have been committed on the question now the subject of the approaching expiration of the bank presented. But this is a mistake; it is true that, at the charter, and the question of its proposed extension or resession referred to, a favorable report was made, and the newal. So far from this being matter for censure or condistinguished gentleman from South Carolina [Mr. McDur- demnation, in his [Mr. C.'s] opinion, it formed cause for FIE] was then, as he now is, the chairman, and made the commendation. He hoped his friend from Georgia would report. But since then the committee had been reorganiz-not move to lay the memorial on the table. Let the meed; three new members, new in reference to the commit-morial be referred, and a bill, if the committee thought tee, had been put upon it, and what their sentiments were, proper, reported on the subject, and then it might be disthe House had no means of knowing; at least, for himself, cussed in a spirit of manliness and frankness. He could he could solemnly declare that he knew not their opinions; not but express his regret at some of the observations they were certainly as likely to be against the bank as in fa- which had been made, but he would only so far allude to vor of it. A majority of the committee, he presumed, were them, lest it might be thought the friends of the Execu favorably disposed to the institution: take away the chair- tive were apprehensive on the subject of the recent ocman, and there will be three of the former members left currences at Baltimore, adverted to by the gentleman from who might be considered as friendly to it, unless their opi- Georgia, [Mr. WAYNE.] nions have undergone a change within the two years past, Mr.WILDE, of Georgia, said, great inconvenience would and three others who had not, to his knowledge, express-probably result from a reference of the memorial to a Comed any opinion about it, one way or the other. But wher-mittee of the Whole House on the state of the Union, as ever you may send this memorial, whether to a select or proposed by the gentleman from South Carolina, [Mr. Dâa standing committee, it will be admitted, as a matter of vis.] After a full discussion of the subject in that comfair legislation on all sides of the House, that those whose mittee, both as to principle and detail, if it be the pleasure province it may be to report a bill, should, at least a ma- of the majority to order in a bill, a select or standing comjority of them, be in favor of the bank, that it may come mittee must be instructed to prepare it, and when reportbefore the House from the hands of its friends, rather than ed the whole ground would again be traversed. its enemies; this much he understood to be conceded by With respect to the appointment of a select committee, every gentleman who had spoken on the subject. What, the preference avowed for it was placed on this reason. then, will you get, that you have not now, by sending the Gentlemen wished the question presented in another memorial to a select committee, when you admit that that aspect than that in which it had been reviewed by the committee is to have its majority made up of the friends Committee of Ways and Means in their late reports. He of the bank? He would not permit himself to believe was at a loss to conceive how they could be gratified withthat some after movement was contemplated, by which, out a violation of parliamentary rule and usage. As far through another committee, the petition should be put to as his observation had extended, it was customary to refer sleep on the table, and thus effect indirectly what was at all matters either to the standing committee, within whose first suggested, though not pressed by the gentleman from peculiar province they were, or a select committee favor. Georgia. But we are asked for a minority that will re- able to the measure, or a committee known to entertain present the sentiments of those adverse to the bank: there opinions in conformity with those which had heretofore is no need of raising a select committee for that; there is been expressed by the votes of a majority of the House. no doubt such a minority in the Committee of Ways and It would undoubtedly not be in the ordinary course of proMeans, and, if so, they will not shrink from the perform ceeding to refer this memorial to a committee so arranged ance of any duty, however they may differ from their col- as to ensure an adverse decision. It was urged as an obleagues. Looking, therefore, at the question in the differ- jection to the Committee of Ways and Means that they ent lights in which it had been presented, he could see had expressed an opinion. He trusted every member of no good reason for the proposed change of reference, that committee was capable of calmly reviewing his own though he should acquiesce cheerfully in any disposition opinions, when called upon by public duty. But the of the subject which the House might see fit to make. committee was not an individual. Its members were not Mr. CARSON, of North Carolina, said he had before the same now that they were when the former reports attempted to get the floor on this question, with the ob- were made. He did not intend to express any opinion ject of appealing to his friend from Georgia [Mr. WAYNE] how far the time selected for this application was appronot to move to lay the memorial on the table. He trusted priate or otherwise. that course would not be taken with it, but that it would The present condition of the currency was comparameet the respect which the importance of its subject de- tively sound, and the state of the money market not unserved at their hands. He wished to know, he observed, favorable, perhaps, to a deliberate examination of this what had been the former course in relation to the mat-important question. He believed the charter of the Bank ters connected with the chartering of the bank. Did the of England expired a little before that of the Bank of bill which granted the charter emanate from the Finance the United States; and, considering the great commercial Committee? If so, there surely could be no impropriety intercourse between the two countries, and the influence in referring the memorial to that committee. If it origi- simultaneous changes in their currency must exercise on nated in a select committee, he [Mr. C.] was perfectly the trade of both, but particularly on our own, it might disposed to let the matter pursue the customary order, be wise to come to an early decision. Whether the bank and send the memorial to a select committee, in which case the Speaker would be fully warranted in placing it in the hands of its friends. Mr. C. went on to say that he also disclaimed introducing party politics into this discussion. He was disposed neither to put down one Mr. MITCHELL, of South Carolina, said that he conman, or elevate another, in reference to such a matter. curred entirely in the views of his friend from Georgia, The member from Virginia [Mr. MERCER] had said that [Mr. WAYNE.] He did not think that the bank question he was one of the last persons in that House who could be ought to be taken up at all this session; but if it were, it justly charged with mingling party politics with subjects ought most unquestionably to be referred to a select comof high national importance; and yet he regretted to say mittee. He saw no reason, however, for its being referthat that gentleman had been imperceptibly drawn into red at all. The member from South Carolina [Mr. Mcexpressions of a strong party nature. Whilst he disclaim- DUFFIE] tells us, said Mr. M., that it involves the vast ed all party spirit, he expressly condemned the Executive amount of fifty millions of dollars; that this is dispersed

was to be rechartered or not, it might be important that the country should be prepared in time for either event, and enabled to provide against any emergency that may grow out of it.

H. OF R.]

Bank of the United States.

[JAN. 9, 1832.

to every class of people in our widely extended country: With these views, he was fully of opinion that the memoand if the question of rechartering it were not decided rial should go to the Committee of Ways and Means. now, it would hazard these great and complicated inte- Mr. DEARBORN, of Massachusetts, said he was derests. Mr. M. said he attached no importance to this cidedly opposed to a reference to any other committee argument. The stockholders who met lately at Philadel- than that of Ways and Means. A reference to the Comphia thought differently, for, by a solemn resolution, they mittee of the Whole on the state of the Union would have left it discretionary with the president of the bank to pro- no other effect than to induce a protracted debate on pose the question to Congress when he saw fit. If they hypothetical points, as there would be no report, no bill, had thought that a postponement would have endangered nothing on which to act. It would be a waste of time, a their interests, would they not have said so? This fact profitless discussion, neither beneficial to the House or the does away the argument of the member from South Ca- country; it could not, and would not, lead to any result. rolina. The bank question was decided by the strongest As to a select committee, gentlemen who advocated that party question which could be put to this or any House. course could not expect to gain any advantage by its apIt has been twice discussed within a few years. It was re- pointment, if parliamentary rules were strictly observed jected once in the Senate by the vote of the Vice Presi- by the Speaker, or the uniform practice here taken as a dent, and it afterwards passed this House with a majority guide. He understood that it had been the invariable of two. It would divide the whole country, and excite custom, ever since the organization of this Government, on that floor feelings of the most exasperated bitterness. in this House, as was notoriously the case in the British Not a party question? Does not the member from South Legislature, to appoint, as members of such committees, Carolina [Mr. McDUFFIE] remember that this question a majority, at least, of those who were favorable to the divided the country into federalists and republicans? It measure proposed. In the House of Commons, the memwas a great constitutional question, and he hoped all those ber who presented a memorial, or offered a resolution of who thought with him would rally against it in all their inquiry, was not only appointed chairman, but had the strength. But why refer it to the Committee of Ways privilege of nominating all the members of the commitand Means? It was committed before to a select committee. He, therefore, could not perceive how the gentletee on national currency. If the question was merely man from New York [Mr. CAMBRELENG] could expect financial, as whether we should sell our stock, and, if we did, to obtain from a select committee a report which would whether we should sell it to the bank, he would not object present such a view of the subject as comported with his to its being referred to the Committee of Ways and Means. own predilections, or one adverse to that which had been But it was not a question of revenue. It was one of po- made by a former Committee of Ways and Means. licy and the constitution--one of vast magnitude and of the greatest complexity-requiring a committee of the most distinguished abilities on that floor. It was a party question in reference to men and things out of doors. Those who deny this, must be blind to every thing around Mr. DEARBORN resumed. Well, sir, I do not perthem--we hear it every where--we see it in all which we ceive why the object of the gentleman would not be as read. Sir, we have now on hand a topic which must en-well attained by the Committee of Ways and Means, as gross every thought and feeling--a topic which perhaps through a select committee. I have not the honor of perinvolves the destinies of this nation--a topic of such mag-sonally knowing any of the members of that committee, nitude as to occupy us the remainder of the session; but presume some of them, at least, are opposed to remean the tariff. I hope, therefore, this memorial will be laid on the table, and, if not, that it will be referred to a select committee.

Mr. CAMBRELENG here rose to explain. He said he did not expect that a select committee would be so organized, as to be hostile to the bank; but he wanted to hear both sides.

chartering the bank, and that the minority can prepare a contre projet, which will exhibit the adverse side of the question. Thus there will be two pictures presented to the House, and gentlemen can select that which they most admire-which best quadrates with their own perceptions of propriety.

Mr. ROOT, of New York, said the quest on before the House was not at present of a party character, unless it might be considered as appertaining to that party to which the gentleman from South Carolina [Mr. MITCHELL] al- I like not, sir, any effort to dodge the subject. Let luded, as the constitutional party. The question was, to there be no subterfuge; but let us boldly and indepen which of three committees the memorial should be refer- dently meet the main question, without delay or postponered--to a Committee of the Whole on the state of the ment. It has been urged as an objection against a referUnion, to the Committee of Ways and Means, or to a ence to the Committee of Ways and Means, that a report select committee. If it is to be made a party question, had been once made by that committee, some two years and that on a great constitutional principle, it became since, favorable to the bank, and therefore it is disqual.fithem to examine more particularly as to the powers of ed from again entering into the inquiry of renewing the Congress on the subject of incorporating a great national charter. It is true, sir, that such a report was made; but bank. Mr. R. went on to say that it was acknowledged I do not understand that the present committee consists of by all those who advocated that institution, that the pow- the same members, although the chairman is the same; ers of Congress were incidental in the matter, inasmuch but that several of the gentlemen who now belong to that as the bank was necessary for the management of the fiscal committee, have been placed there, during this session, concerns of the nation, and the proper establishment of for the first time. its currency-Congress deriving its power, Mr. R. said, The many powerful reasons in favor of a reference to from the necessity of a bank as an instrument in the hands the Committee of Ways and Means, have been so ably of the treasury, for the collection, preservation, and dis- urged by several gentlemen during the course of this debursement of the revenue, and to give us the benefit of bate, that it is unnecessary again to press them upon the one uniform currency throughout the nation; and upon attention of the House. But it is not a little extraordmary, these two grounds alone the power was founded. If that, after what has been done, objections should be raised the rechartering of the bank were to turn the question of to a reference to the only committee within whose peculiar constitutionality, the mode of reference was still more im- province this House has so repeatedly decided whatever portant. What committee then could most appropriately related to the bank properly belonged. Has not the Premake the inquiry? In his judgment, certainly the com-sident of the United States, for three consecutive years, mittee which managed the fiscal affairs of the nation--the called the attention of Congress and the nation to this committee that prepare and digest the scheme of revenue, subject? and has not so much of his annual message as and exercise a general supervision of the public finances. related to the bank been invariably referred to the Com