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Public Deposites.

(JUNE 17, 1836.

lend my aid to continue such a state of things. By de- As long as this money remains the property of the Genpositing this money with the States, as is proposed by eral Government, the States will exercise a proper cauthis bill, the public mind will be quieted; the banks will tion as to the use and application of it. There will be be freed from the suspicion, as well as the odium, which no profligate expenditures, merely because they have must attach to them under the state of things which I come into the possession of such an amount of funds. haye attempted to describe; and, above all things, our Most of the States would probably apply it to internal pecuniary concerns will be separated from all political improvements, already authorized by their respective connexions or associations--a consummation devoutly to Legislatures, and perhaps already commenced. If it be wished.

should be thus applied, there can be no better evidence Sir, there is no constitutional objection to this bill.of its proper application, because such works have been The most refined sophistry cannot show any Gentle. | authorized and commenced without reference to any men may attempt to confound it with a distribution such means. I might instance the State of New York as But it is no more nor less than a simple deposite of the in this situation now. The last Legislature directed new public money with the States. It avoids the objections works of internal improvement to be commenced, and which would exist to a general system of distribution. loaned her credit to the Hudson and Erie Railroad ComThat implies that a surplus shall be created for the pur- / pany, to the amount, in the aggregate of $6,000,000. pose of distribution. This does not even distribute a For this amount she must issue stocks, and raise the surplus, accidentally and unavoidably on hand. It de money as it is wanted, and bearing such interest as is posites it with the States. It still remains the property directed by the act authorizing it. If she should receive, of the Government, and the Government can use the under this bill, $5,000,000, more or less, it would to money whenever it is required for the public service. that extent take the place of the stocks which are by her It creates no dependance, on the part of the States, on past legislation already directed to be issued. This the General Government, as a distribution system might money she would apply to those works of internal im do. It merely provides for the present emergency. It provement, and would pay no interest on it till it should disposes safely of a surplus, for which, at present, we be wanted for the use of the United States; and whenhave no use, and with which we know not what to do. | ever it should be so wanted, she would then pay an inIf gentlemen would satisfy me of any other proper dis- terest, the same as she would have paid from the beginposition of it, I would embrace any proposition that ning, on her own stocks, and provide for the principal would seem to meet the exigency of the case. But I whenever it suits her convenience, because the certifihear of none, except to spend it all by extravagant ap-cates of deposite are redeemable at her pleasure. If the propriations, or leave it to accumulate in the deposite money should not be called for, then she will retain it, banks. To both of these I have already indicated my | without interest, still resting under the obligation to reobjections. We are then brought back to the proposi turn it when required, and whenever it suits her contion contained in this bill; and I confess, after the matu- venience to redeem her certificates which may have rest deliberation and reflection, I can not only see no ob- been put into the market. What objection is there to jection to it, but I can conceive of no mode so proper. By her thus using this money? Has she not, like every State this mode the States will receive their ratable propor in the Union, contributed, by the indirect taxation of the tions of the surplus, giving the security of the States people, to raise it? It is true it has not been raised with themselves for the repayment, when it is needed by the the design to accumulate a surplus; but being unavoidGeneral Government. This money is retained by the ably and without design on hand, what valid objection States, without interest, until the Secretary of the Treas- can be urged to such an application of it? What appliury, for want of other means, sells the certificates of de. cation can be made that will so much benefit the whole posites, when they are made to bear an interest of five country? The States can carry on their works of interper cent. These certificates are redeemable at the nal improvement much better and much more economipleasure of the States, and would always bring par in cally than the United States can, even if there were no the market, and probably a premium. No arrangement constitutional objection to such a system or behalf of the which has been suggested, or, as I believe, can be sug General Goveroment. gested, is, in my judgment, equal to this. It is the best By the proposition in this bill we also avoid another for both parties. It is best for the United States. It is objection which is sometimes urged against a system of best for the individual States. If they invest the money distribution, ty which the money is given to the States, in internal improvements, or as a fund for education, it namely, that we have no right in this way to carry on & will be vastly better employed for the whole country system of internal improvements, by means of the agency than if it were left for the use of speculators in the de- of the States, which we cannot carry on directly. In posite banks; and whenever it is wanted by the General other words, if Congress cannot appropriate and apply Government, the Secretary of the Treasury, as its agent, the money for such purposes, it cannot give it to the has only to sell the certificates in market to get the States for the same purposes. Under the present bill, money on them; and the States, on such sale, have mere- the money is not given to the States. It is merely dely to provide for the payment of interest at the rate of posited with them for safe keeping. It remains the five per cent. They are not bound to raise the princi- property of the United States, and to be applied by their pal on any such call, because the certificates are made agent, the Secretary of the Treasury, whenever it shall redeemable at their pleasure; and when they are sold, become pecessary to meet appropriations made by Conthey become to the States the same as any other five gress. There is also this additional advantage of this per cent. stock which they may bave issued. One ad- l proposition, namely: whenever these certificates are vantage, and one great advantage, of this proposition is, sold, like all our State stocks, they would probably find that it requires no action on the part of Congress, nor their way to Europe, and would, to the amount sold, be on the part of the States, to bring this money back to the means of introducing foreign capital into the counthe Treasury, whenever it is required for the wants of try. This is what is wanted. I will not dwell on the im. the Government. Congress judges in the first instance portance of foreign capital to a country, and particularly of those wants, and makes appropriations to meet them to this country. Our astonishing growth and prosperity

If, then, there is a lack of other means, the Secretary are greatly owing to the introduction and use of foreign of the Treasury, without any further action on the part capital. Amidst all the turmoil and disturbances of the of Congress or the States, can avail himself of the fund | European world, there is no safer investment for capital thus deposited, by a sale and transfer of the certificates. | from abroad than the public securities of this country,

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whether they be stocks of the United States or of the Sir, what are the facts

(SENATE. several States. Such, sir, are some of the advantages Congress makes appropriations proposed by this bill; and in addition to all these, though current year. A portion of the moto these balances? last not least, its adoption will tend to quiet the public one half, remains unexpended at the eamount for the mind, to get rid of that feverish state of anxiety which Now, sir, when this money is wanted to meally about has existed for some time past, which has kept our mon propriations, the only inquiry is, whether the Secrer. etary system in constant agitation, which has disturbed of the Treasury has the means for the purpose. No mat the peace of the whole commercial community, and ter whether those means are in the Treasury, from past more or less deranged the affairs of the whole country, receipts, before the appropriations were made, or wheth

Mr. President, if such be some of the advantages of er they have come there from receipts subsequent this bill, (and I confess I have glanced at them but has to their being made; the only inquiry should be, has tily,) what, let me ask, is the objection to its adoption? | the Secretary the means to meet them? This is the Why, sir, it is objected, in the first place, that the two common practice. Appropriations are often made bepropositions, namely, to regulate by law the deposite yond the money in the 1'reasury at the time, and are exbanks, and to dispose of the surplus revenue, ought not pected to be met by the subsequent receipts. But to have been in the same bill. Viewing these proposi the sarcastic remark of the honorable Senator from tions as I do, I have not, on my own account, any ob Missouri would seem to imply that specific money was jection to their being embraced in the same bill; but set apart for specific appropriations; as if, the mo. knowing that a few of my political friends entertained ment an appropriation was made, an ear-mark was different views from me in regard to the latter one, I placed upon the money in the Treasury sufficient to felt it due to them that they should have the opportuni-meet them; and then, that those identical pieces were ty of acting and voting separately on them. My honor-called in whenever they were needed, as a Dutchess able colleague, although he originally put the proposi-county farmer would select particular sheep from bis tions together, accordingly moved to recommit the bill whole flock by the ear-marks he had previously placed to a commiltee, with instructions to report two separate on them. Sir, this idea is altogether fanciful. There are bills. After repeated trials, it was decided not to re- no such specific sums set apart for specific appropriacomm't. This I regret, because such a separation would | tions. If this were so, what would be the result of the have left each proposition to rest on its own merits, and appropriations, if they should be made by the present every member of this body could, with perfect freedom, Congress to the amount of some fifty-five millions of dolhave voted for the one or the other, as he should deem lars, according to the statement exhibited by my honorbest. But the two propositions have been kept together able colleague? Why, sir, the unexpended balances against my vote and against my wishes. The question alone of such appropriations, that would remain in the now is, approving them hoth as I do, whether I shall Treasury on the first of January next, would be thirty vote against the whole bill because it contains a propo- | millions of dollars. Do gentlemen desire that any such sition which some other gentlemen do not approve. amount, or any portion of it, should remain there, mere. Sir, I cannot, under these circumstances, hesitate as to ly because it is an unexpended balance, and when the my course. I voted for the engrossment of the bill; I receipts of the current year will be more than sufficient shall vote for it on its final passage. But my honorable | to meet all the appropriations which will be made? It colleague objects to the ratio introduced by the amends will be recollected that five millions of dollars are to be ment of the Senator from Mississippi. Sir, I resisted retained to meet any possible contingencies of the Treas. that ratio to the utmost. I deemed the ratio in the bill ury; and if, at any time, and from any unforeseen continas reported by the select committee, namely, in propor gency, more should be wanted, the Secretary can at tion to federal population, more equitable and just; but any moment cash the certificates of deposite in his hands, I cannot vote against the whole bill merely because it and thus avail himself of any amount he may require. takes the representatives of the States in the two Houses There is no necessity, therefore, that these unexpended of Congress as the basis of deposite, instead of the rep balances should be excepted out of the amount to be resentation in the popular branch. And, even though deposited; but there is every reason in the world why the ratio were restored, as my honorable colleague de they should be included in it. sires it, we know perfectly well that the bill would not Again, sir, it is urged that this surplus, thus depos. receive his vote. Having done all in my power to retain ited with the States, will never be called for by the the ratio required by the interests of my own State, and General Government, and that such calls would not which seemed to me both just and equitable, and having be responded to by the States if they were made. failed in that, I cannot, consistently with my sense of Let us, for one moment, examine these objections. In duty, vote against a bill which contains two such impor the first place, the way in which the money would be tant provisions, even if I have some objections to ibat called for would be through appropriations made by part which relates to the surplus revenue. I should feel Congress; and in case there were not means in the Treas. that they ought to be very weighty and very strong to ury to meet them, the Secretary would sell the certifiinduce me to vote against the other part of the bill reg cates of deposite for the purpose of raising the means. ulating the public deposites by law--a measure so fre The States would have nothing to do with the transac. quently recommended by the President, and so imperi- tion. The Secretary would require no response from ously demanded by the public voice.

them. This objection might have had some plausibility Sir, the honorable Senator from Missouri objects to if the bill had required that the certificates should be this bill that it does not except from this ratable deposite paid by the States, instead of being made transferable, with the States the unexpended balances, as they are and thereby enabling the Secretary of the Treasury to termed, of the appropriations made by Congress; that cash them in the market. But, even if such had been the bill recaptures them, to use his own emphatical lan its provision, does any one believe that there is a solitary guage, and brings them back for the purpose of distri State in this Union which would violate its pledged faith bution, after they have been appropriated by Congress. to this or any other Government? No, sir, no one can Sir, a good argument is sometimes put down and a bad seriously entertain such an opinion. I would youch for one built up by a sarcasm. This, I apprebend, must all of them. Corruption has not so far fastened on the vitals have been the object of the honorable Senator in thus of any of them, that they should so soon exhibit such ev. speaking of the recapture of these unexpended bal. idences of premature decay. It is, however, said that ances.

I Congress would omit to make appropriations, in order to Vol. XII.--116




7. Public Deposites.

(June 17, 1836.



- red for or required by | ed. But, sir, if you want to ensure an increase of duties,

i What! Mr. President, let your expenditures be made extravagant, for the purprevent this money from its duty to the country from pose of absorbing this immense surplus, and the duties the Secretary of theion of keeping so much trash as must be increased to furnish means to carry out the exCongress reljed thus in the treasuries of the States! travagance thus commenced. I beg gentlemen to rethe palpose this body that would thus withhold the flect on this subject. They seem to have looked only mind for the common defence of the country? Let on one side of the question. Whilst they are attempt very member of either House put the question to him. ing to avoid an imaginary evil, they are rushing into ab. self, whether he would be governed by such motives. | solute danger. To them might well be applied the Ro. His answer will be, No, sir-no. For my own part I man maxim, Incidit in Scyllam qui vult vitare Charyb. should despise myself, if such considerations could, for dim. a single moment, influence me, and I believe that senti- Put it to the plain, practical, common sense of every ment pervades the breast of every one who bears me. man in this nation, and he will respond to you that he is Where, then, is the danger of appropriations being with governed by no such motives as those attributed to him. held? I have heard it said that our constituents, the He will tell you that this surplus is in a situation to be people, would direct or instruct us to vote agairgst them, productive of immense mischief, as it now is; he will tell in order to prevent their portion of this surplus being you it ought to be deposited with the States, because it withdrawn from their respective States. Sir, there is will there be safely kept and carefully used, for the no such sordid and debasing spirit amongst the people of benefit of the people, who contributed towards it; and this country. They will go all necessary lengths to sus that it will be forthcoming whenever the wants of the tain the Government in any emergency, whether it be Government require it. If such would be the convictions peace or whether it be war. It is their pride and their of every honest man, how can you charge upon the great ambition to rally round the standard of their country, mass of the people of this country such base and sordid and to provide the requisite means for sustaining its insti motives as a contrary position would imply? Sir, it cantutions and its honor. So far from withholding its means not be; I feel that the spirit of the people is above it; I from it, they would always be ready to contribute their feel that I know the motives which govern my fellowown. Sir, I have studied the character of the American citizens in such matters. I have been brought up with people to little purpose, if I could suppose them capable them; I have always lived in the midst of them; and I am of being guilty of such meanness. No, sir, they are a yet to learn that such are their principles of action. I noble, a generous, a chivalrous people. Whilst I trust am persuaded I speak the sentiments of the people of they will always guard against unnecessary and extrava the State of New York on this subject. They cannot be gant expenditures, at the same time I feel assured that seduced from their integrity by such means. They may nothing will be withheld which is right and necessary be willing to keep the public money, as a safe depository for the proper administration of the Government. Is our of it, till it is needed for the public service; but they own patriotism of so much higher order than theirs, that will not be humble suppliants here for your bounty; and we are willing to say that we, their representatives, they will not instruct their representatives to do that would not, of our own accord, withhold appropriations, which they would not do themselves. There is no danbut should be compelled to do it under their influence ger, therefore, in this measure. It is the only one which and instructions? Sir, I do not think so meanly of my- avoids all danger. If this be not arlopted, there are but self, nor of my constituents. I am unwilling to assume any two other modes of disposing of the surplus left. The such attitude in regard to them, and I trust they will not one is by extravagant appropriations, without reference assume it in regard to me. I am unwilling, with a kind to the real wants of the country, and which will require of Pharisaic, political righteousness, to say to my con- an increased tariff to carry them through. The other is, stituents I am holier than you. No, sir, rather than to leave them in the deposite banks, to become the prey place myself in such a contrast with them, I would of speculators, and the foot-ball of party. Sir, I cannot say, with the humble publican, God be merciful to me, | hesitate between them. And I am ullerly at a loss to a sinner.

conceive how gentlemen, who are so naturally jealous This idea of withholding appropriations, either by of all banks, are willing to leave this immense power in representative or constituent, is ideal. It exists in the their hands. When the United States Bank was deimagination. Equally fanciful is that notion which has prived of its power by the removal of the deposites, it been advanced, that our tariff of duties on foreign im had, at that time, but about seven millions of the public ports will be increased, for the purpose of creating a money; whereas, by the lowest estimates, these deposite surplus for distribution. No gentleman will admit that banks will have, on the first of January next, not less he would be governed in his action here by such a mo than thirty millions. Do not gentlemen perceive that tive. Nay, he would repel with indignation such a they are putting into their hands a power far greater charge. I would repel it for my constituents as readily than they were willing to intrust to the Bank of the as I would repel it for myself. Sir, the difference be- | United States? Do they not also perceive that, by retween the proposition contained in the bill and an absojecting that portion of the bill which relates to the de. lute system of distribution is as palpable as that between posite banks, they are leaving this immense power in the night and the day. In the first case, we deposite their hands without any regulation by law? Why is all with the States, for safe-keeping, an accidental and un- this? Why, simply because they are apprehensive that, avoidable surplus, to be used by the Government when by depositing this surplus, ratably, among twenty-six required. In the other, we create a surplus for the pur- states of this Union, it will tend to corrupt the people! pose of being given to the States, and without any ex. They are willing to leave it in these banks, without legal pectation or obligation on their part to return it. Sir, restraints, subject to all the vicissitudes and dangers there is no danger of raising our duties on imports for which the use and disposition of such an immense fund such a purpose. The principle on which duties are | must always encounter'; but they are unwilling to intrust levied, I believe, is well and universally understood at it to the custody of the States, under the sanction of law, this day. Graduate your duties so as to raise no more to be by them safely kept, and surely returned, whenrevenue than is required for the economical wants of the ever the wants of the Government require it. Sir, I Government, and, in thus graduating them, give inci- think I speak the sentiments of the deposite banks when dental protection to such branches of industry as you I say I do not believe they wish to keep it. They are think the interests of the country require to be protect. I not anaware of the tendency to speculation and over

June 18, 1836.]



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trading which the use of such immense means has on the Rives, Robbins, Robinson, Ruggles, Shepley, Southard, whole community; and when thus embarked, any sudden Swift, Tallmadge, Tipton, Tomlinson, Wall, Webster, demand for and withdrawal of these means must produce White-40. consequences of the most destructive character. I can! Nars--Messrs. Benton, Black, Cuthbert, Grundy, readily foresee that, even if this bill becomes a law, there Walker, Wright--6. will be more or less difficulty in the banks' contracting The Senate then adjourned. their loans, so as to be prepared to meet the drafts of the Treasury when this surplus shall be deposited with

SATURDAY, JUNE 18. the States. The projectile force which bas already been given to the community, by means of these funds, will

TEXAS. continue to operate after the cause has ceased. But the

Mr. CLAY, from the Committee on Foreign Relaperiod fixed in the bill for withdrawing them is so re, tions, to whom were referred the resolutions of the mote, that I apprehend no material difficulty in their | Legislature of Connecticut, and a number of memorials being ready to carry out the arrangement.

and petitions from various quarters, praying for the reMr. President, the vote I am called upon to give on cognition of the independence of Texas, made the folthis bill I deem the most important I have ever given in / lowing report: my life. I have maturely considered it-it is the result 1 The Committee on Foreign Relations, to whom were of anxious reflection and deep conviction; and were referred resolutions of the Legislature of Connecticut, not supported by the very large majority of my political sundry memorials, and other proceedings of various friends in this Senate, I might be led to distrust my own meetings of the people, all recommending the recogni. judgment; but with their support, my convictions are tion of the independence of Texas, has, according to the stronger; and I can never persuade myself we are order, had them under consideration, and now beg leave wrong. I think I see this matter as clear as the sun at to submit to the Senate the following report and reso. noonday. My mind has a perfect conception of the lution: evils to be encountered by the rejection of this bill, and . The right of one independent Power to recognise the of the benefits to be conferred by its adoption. There fact of the existence of a new Power, about to assume a is no film upon the mental eye-my judgment tells me position among the nations of the earth, is incontestable. it is right my conscience approves it. i have no incli. It is founded upon another right--that which appertains nation to indulge in prophetic vision, but I think I can / to every sovereignty to take care of its own interests, discern in the long vista of the future the sad train of

by establishing and cultivating such commercial or other evils which must follow the adverse action of this day relations with the new Power as may be deemed expeI fancy I can see our currency deranged, our credit sys

dient. Its exercise gives no just ground of umbrage or tem overturned, and our country precipitated from that

cause of war. The policy which has hitherto guided height of prosperity which she has so long enjoyed; but the Government of the United States in respect to new I will not appal you with an exhibition of those evils,

Powers has been to act on the fact of their existence, which, like Banquo's ghosts, are lengthening out before without regard to their origin, whether that has been by us. The future historian, standing on the proud emi.

the subversion of a pre-existing Government, or by the nence which we now occupy, and looking into the dark

violent or voluntary separation of one from another part abyss into which we may be plunged, willa say, with

of a common nation. In cases where an old established Shakspeare's man on Dover Cliffs,

nation has thought proper to change the form of its Gov. "How fearful

ernment, the United States, conforming to the rule which And dizzy 'tis, to cast one's eye so low!"

has ever governed their conduct, of strictly abstaining

from all interference in the domestic concerns of other Sir, in giving my vote for this bill, if it is the last vote States, have not stopped to inquire whether the new I ever give, I shall feel that I have faithfully and consci-| Government has been rightfully adopted or not. It has entiously discharged an important and responsible duty been sufficient for them that it is in fact the Government to myself and to the country. •

of the country in practical operation. There is, howWhen Mr. TaLLMADGE had concluded

ever, a marked difference in the instances of an old Mr. WRIGHT made some remarks in explanation of nation which has altered the form of its Government, and several things that had fallen during the debate, and in a newly-organized Power, which has just sprung into opposition to the bill.

existence. In the former case, (such, for example, as Mr. SHEPLEY said he had wished to state the rear was that of France,) the nation had existed for ages as a sons of his vote, but would take some other occasion, separate and independent community. It is matter of and hoped the question would be taken at once.

history; and the recognition of its new Governments was Mr. CLAY took the floor, and spoke at length in fa not necessary to denote the existence of the nation; but, vor of the bill, and in general congratulation of the de with respect to new Powers, the recognition of their termination which seemed to pervade the Senate, with. Governments comprehends, first, an acknowledgment of out distinction of party, to check extravagant expendi their ability to exist as independent States, and, secondtures and provide for the safety of the public moneys. ly, the capacity of their particular Governments to perMr. NILES made a few remarks.

form the duties and fulll the obligations towards foreign Mr. CALHOUN expressed a hope that the harmony Powers incident to their new condition. Hence, more of the debate would not be disturbed. He thought there caution and deliberation are necessary in considering and was no mischief in the measure, and it was a mere meas determining the question of the acknowledgment of a ure of precaution.

new Power than that of the new Government of an old Mr. WEBSTER called for the yeas and nays; which Power. were ordered.

The Government of the United States has taken no The question being taken on the passage of the bill, part in the contest which has unhappily existed between it was decided in the affirmative, as follows:

Texas and Mexico. It has avowed its intention, and ta. Yeas-Messrs. Buchanan, Calhoun, Clay, Crittenden, ken measures to maintain a strict neutrality towards the Davis, Ewing of Illinois, Ewing of Ohio, Goldsborough, belligerants. If individual citizens of the United States, Hendricks, Hubbard, Kent, King of Alabama, King of impelled by sympathy for those who were believed to Georgia, Knight, Leigh, Linn, McKean, Mangum, Moore, be struggling for liberty and independence against op. Morris, Nicholas, Niles, Page, Porter, Prentiss, Preston, pression and tyranny, have engaged in the contest, it has


Banks in Florida.

(JUNE 20, 1836.

been without the authority of their Government. On of some other branch of the Government, is not compethe contrary, the laws which have been hitherto found | tent to recognise the existence of any Power. necessary or expedient to prevent citizens of the United The President of the United States, by the constituStates from taking part in foreign wars have been direct- tion, has the charge of their foreign intercourse. Regu. ed to be enforced.

larly he ought to take the initiative in the acknowledgSentiments of sympathy and devotion to civil liberty, ment of the independence of any new Power. But, in which have always animated the people of the United this case, he has not yet done it, for reasons which he, States, have prompted the adoption of the resolutions without doubt, deems sufficient. If, in any instance, the and other manifestations of popular feeling which have President should be tardy, he may be quickened in the been referred to the committee, recommending an ac- exercise of his power by the expression of the opinion, knowledgment of the independence of Texas. The or by other acts, of one or both branches of Congress, committee shares fully in all these sentimen!s; but a wise as was done in relation to the repablics formed out of and prudent Government should not act solely on the Spanish America. But the committee does not think impulse of feeling, however natural and laudable it may that, on this occasion, any tardiness is justly imputable to be. It ought to avoid all precipitation, and not adopt so the Executive. About three months only have elapsed grave a measure as that of recognising the independence since the establishment of an independent Government of a new Power, until it has satisfactory information, and in Texas; and it is not unreasonable to wait a short time has fully deliberated.

to see what its operation will be, and especially whether The committee has no information respecting the re- it will afford those guarantees which foreign Powers bave cent movements in Texas, except such as is derived from a right to expect before they institute relations with it. the public prints. According to that, the war broke Taking this view of the wbole matter, the committee out in Texas last autumn. Its professed object, like conclude by recommending to the Senate the adoption that of our revolutionary contest in the commencement, of the following resolution: was not separation and independence, but a redress of Resolved, that the independence of Texas ought to grievances. In March last independence was proclaim- be acknowledged by the United States whenever satis. ed, and a constitution and form of Government were es. factory information shall be received that it has in suctablished. No means of ascertaining accurately the cessful operation a civil Government, capable of perexact amount of the population of Texas are at the com forming the duties and fulfilling the obligations of an inmand of the committee. It has been estimated at some dependent Power. sixty or seventy thousand souls. Nor are the precise 1 Mr. CLAY stated that the committee, he was happy limits of the country which passes under the denomina- to inform the Senate, bad been unanimous in their sanction of Texas known to the committee. They are prob tion of this report. He did not know that it was very ably not clearly defined, but they are supposed to be important that the resolution should be acted on at this extensive, and sufficiently large, when peopled, to form session. Yet, as there might be gentlemen who would a respectable Power.

desire to give their views on the subject, he would move if the population is small; if, when compared with that that the report be printed, and made the special order of the United Mexican States, amounting, probably, to for Thursday next. not less than eight millions of souls, the contest has been Mr. PRESTON, in a tone which did not reach the unequal, it has, nevertheless, been maintained by Texas reporter, expressed his acquiescence in the motion, and with uncommon resolution, undaunted valor, and emi. bis wish that a resolution offered by him some days since, nent success. And the recent signal and splendid vic- calling on the President for a communication on the sub. tory, in which that portion of the Mexican army which lject of any correspondence between him and the Gov. was commanded by General Santa Anna, the President ernment or agents of Texas, on the subject of the condi. of the Mexican Government, in person, was entirely tion, administration, &c., of Texas, be taken up. The overthrown, with unexampled slaughter, compared with Senate would then be able to decide whether any further the inconsiderable loss on the other side, put to flight action was necessary. and captured, including among the prisoners the Presi- | Mr. CLAY said he hoped the resolution would be dent himself and his staff, inay be considered as decisive taken up. It would be very desirable to have the inof the independence of Texas. That memorable event formation which it asked for, in order to determine if will probably be followed by negotiations which may 1 any stronger measure was necessary than that now re. lead to the acknowledgment by Mexico of the independ. ported. ence of Texas and the settlement of its boundaries. The motion of Mr. Clay was agreed to. And, under all circumstances, it might, perhaps, be The Senate then took up for consideration several more conformable with the amicable relations subsisting private bills; after which, between the United States and the United Mexican On motion of Mr. BENTON, the Senate proceeded States, that the latter should precede the former in the to the consideration of executive business; and, after acknowledgment of the independence of Texas. But | some time spent in secret session, if the war should be protracted, or if there should be The Senate adjourned. unreasonable delay on the part of the Mexican Govern. ment, the Government of the United States ought not to

MONDAY, JUNE 20. await its action.

The CHAIR presented the credentials of RICHARD The recognition of Texas as an independent Power may be made by the United States in various ways: 1st,

BAYARD, elected United States Senator, by the Legislaby treaty; 2d, by the passage of a law regulating com

| ture of the State of Delaware, to fill the vacancy occa. mercial intercourse between the two Powers; 3d, by

sioned by the resignation of the honorable ARNOLD

NAUDAIN. sending a diplomatic agent to Texas, with the usual cre- | dentials; or, lastly, by the Executive receiving and ac

Mr. Barand then appeared, and took the requisite

oath and bis seat. crediting a diplomatic representative from Texas, which would be a recognition as far as the Executive only is

BANKS IN FLORIDA. competent to make it. In the first and third modes the Mr. WEBSTER, from the Committee on Finance, to concurrence of the Senate, in its executive character, which was referred a resolution (Mr. HUBBARD's) inwould be necessary; and in the second, in its legislative structing the committee to inquire if the course pursued character. The Senate alone, without the co-operation by the territorial Legislature of Florida, concerning the

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