The Congressional GlobeBlair & Rives, 1837 - United States |
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Common terms and phrases
25th Congress administration adopted amendment amount authority Aycrigg bank notes Bank of England bonds called CAMBRELENG capital cause cent Chairman charter commerce committee Congress considered constitution creditors currency debt demand Department deposite banks deposite law disbursing drafts duty election embarrassments ernment evil exchange Executive existing favor fourth instalment friends funds gentleman from South gold and silver Government honorable House hundred institutions interest issue labor LEVI WOODBURY loan means measure ment merchants millions of dollars Mississippi national bank object officers operation opinion political postponement present President proper proposed proposition public money purpose question received regulate remarks revenue Rice Garland Samson Mason Secretary Senate session South Carolina specie circular specie payments Sub-Treasury Bill thing tion trade Treasury notes Union United States Bank vacancy Virginia vote whole writs of election York
Popular passages
Page 1617 - All charges of war, and all other expenses that shall be incurred for the common defence or general welfare, and allowed by the United States in Congress assembled, shall be defrayed out of a common treasury, which shall be supplied by the several states, in proportion to the value of all land within each state...
Page 1617 - That the General Assembly doth also express its deep regret that a spirit has in sundry instances been manifested by the Federal Government to enlarge its powers by forced constructions of the constitutional charter which defines them...
Page 9 - The history of trade in the United States, for the last three or four years, affords the most convincing evidence that our present condition is chiefly to be attributed to over-action in all the departments of business ; an over-action deriving, perhaps, its first impulses from antecedent causes, but stimulated to its destructive consequences by excessive issues of bank paper, and by other facilities for the acquisition and enlargement of credit...
Page 11 - ... the rapid growth among all classes, and especially in our great commercial towns, of luxurious habits, founded too often on merely fancied wealth, and detrimental alike to the industry, the resources, and the morals of our people.
Page 19 - Department, who also holds office at the pleasure of the President, and some other officers of the same Department, must necessarily be invested with more or less power in the selection, continuance, and supervision of the banks that may be employed. The question is then narrowed to the single point whether in the intermediate stage between the collection and disbursement of the public money the agency of banks is necessary to avoid a dangerous extension of the patronage and influence of the Executive....
Page 1481 - The most material difference between the results in the two countries has only been that with us there has also occurred an extensive derangement in the fiscal affairs of the Federal and State Governments, occasioned by the suspension of specie payments by the banks.
Page 11 - ... people. It was so impossible that such a state of things could long continue that the prospect of revulsion was present to the minds of considerate men before it actually came. None, however, had correctly anticipated its severity. A concurrence of circumstances inadequate of themselves to produce such widespread and calamitous embarrassments tended so greatly to aggravate them that they can not be overlooked in considering their history.
Page 15 - During the long continuance of a national debt, and the intervening difficulties of a foreign war, the connection was continued from motives of convenience ; but these causes have long since passed away. We have no emergencies that make banks necessary to aid the wants of the Treasury, we have no load of national debt to provide for, and we have on actual deposit a large surplus. No public interest, therefore, now requires the renewal of a connection that circumstances have dissolved. The complete...
Page 1539 - ... be concerned in the purchase or disposal of any public securities of any State, or of the United States, or take or apply to his own use any emolument or gain for negotiating or transacting any business in the said department, other than what shall be allowed by law...
Page 1633 - Against the motion we urged, that it would be improper to deprive the Congress of that power ; that it would be a novelty unprecedented to establish a government which should not have such authority ; that it was impossible to look forward into futurity so far as to decide that events might...