ELEVENTH CONGRESS—SECOND SESSION. BEGUN AT THE CITY OF WASHINGTON, NOVEMBER 27, 1809. PROCEEDINGS IN THE SENATE. (continued 2)
Reading edition
The question being then taken that the Senate adhere to their amendments, it was determined in the affirmative—yeas 17, nays 15, as follows:
Yeas.—Messrs. Anderson, Bayard, Champlin, Gaillard, German, Gilman, Goodrich, Gregg, Hillhouse, Horsey, Leib, Lloyd, Parker, Pickering, Smith of Maryland, Sumter, and Whiteside.
Nays.—Messrs. Bradley, Brent, Campbell, Clay, Condit, Crawford, Franklin, Giles, Lambert, Mathewson, Meigs, Pope, Smith of New York, Tait, and Turner.
Thursday, March 22.
National Bank.
Mr. Bayard, from the committee appointed on the subject the thirteenth instant, reported a bill making provision for the establishment of a National Bank; and the bill was read and passed to a second reading.
[The bill was for a new bank of 30 millions capital, the subscription for shares open to every citizen of the United States or of its Territories, to copartnerships composed of such citizens or body politic incorporated within the United States, to the amount of 1000 shares.]
Wednesday, April 4.
Bank of the United States.
The President laid before the Senate the following report of the Secretary of the Treasury, made in pursuance of the resolution of the Senate of the 2d instant:
Treasury Department, April 3, 1810.
Sir: I have the honor to transmit a report, prepared in obedience to the resolution of the Senate of yesterday.
I have the honor to be, &c.,
ALBERT GALLATIN.
To the honorable the President of the Senate:
The Secretary of the Treasury, in obedience to the resolution of the Senate, of the 2d instant, respectfully reports—
That the statement annexed to the report made to the Senate on the 2d day of March, 1809, contained all the dividends made by the Bank of the United States, from its establishment to the date of the report, as stated to the Treasury by the bank.
That the annexed table, (A,) being a transcript of the above-mentioned statement, with the addition of the dividends made on the 1st day of July, 1809, and on the first day of January last, embraces not only the semi-annual dividends of 4 per cent., but also all the extra dividends which are within the knowledge of this Department, and which, it is believed, have ever been made by the bank; making, in the whole, an average of 8 13-36 per cent. a year.
That there remained to the credit of the bank, after payment of the dividend made on the first day of January last, a surplus of $409,410, consisting of two items, viz: $125,000, designated by the name of "General Bank Estate," intended as an offset against decay and presumed loss, in case of sale of the real estate of the bank—that estate having been paid for from the capital stock, and not from the profits of the bank; and $284,410, designated by the name of "Contingent Fund," intended in the first place to cover losses arising from bad debts, not yet actually lost; and the residue of which, if any, will be applicable to another extra dividend.
That the nominal profit resulting to the bank, from each of its offices of discount and deposit, could not be ascertained without an investigation of all the weekly returns made to this Department; and that there are no returns from which the actual loss sustained by each office can be known.
But, that the statement (B) shows the permanent capital given to each office of discount and deposit; the balance due in account current by the offices of the bank, (exclusive and in addition to the said permanent capital,) on the 27th day of March last; the amount of the notes actually discounted and due to the bank by the last returns, specifying the amount discounted at Philadelphia, and at each office respectively; and an estimate of the gross amount of the annual expenses and losses of the bank, including its several offices, by which it appears that the annual expenses, being about $125,000 a year, the ascertained losses must in the whole have amounted to about $35,000 a year.
All which is respectfully submitted.
ALBERT GALLATIN.
Dividends on United States Bank Stock.
No. Date. Rate p. ct.
1 July, 1792 4
2 January, 1793 4
3 July, " 3-5/8[7]
4 January, 1794 3-7/8[7]
5 July, " 4
6 January, 1795 4
7 July, " 4
8 January, 1796 4
9 July, " 4
10 January, 1797 4
11 July, " 4
12 January, 1798 5[8]
13 July, " 4
14 January, 1799 4
15 July, " 4
16 January, 1800 4
17 July, " 4
18 January, 1801 6[8]
19 July, " 4
20 January, 1802 4½[8]
21 July, " 4½[8]
22 January, 1803 4½[8]
23 July, " 4
24 January, 1804 4½[8]
25 July, " 4
26 January, 1805 4
27 July, " 4
28 January, 1806 4
29 July, " 4
30 January, 1807 6[8]
31 July, " 4
32 January, 1808 4
33 July, " 4
34 January, 1809 4
35 July, " 4
36 January, 1810 4
Statement of the capital of the several branches, and of the Bank of the United States, and of the amount of discounts by the last received returns.
Cities, &c. Capital. Amt. of notes discounted
Boston $700,000 $998,859
New York 1,800,000 4,175,874
Baltimore 600,000 1,349,550
Washington 200,000 485,285
Norfolk 600,000 880,170
Charleston 600,000 1,409,916
Savannah 500,000 1,054,113
New Orleans 300,000 611,517
Philadelphia—
Balance due the bank, in account current, by the offices $750,000
Cap. res'd 3,950,000
4,700,000
$10,000,000
Funded debt — 1,411,620
$16,949,497
Estimate of the expenses and losses of the Bank.
Six per cent, on $17,000,000, estimated as per above, as the amount usually loaned on interest, is, per annum, $1,020,000—to wit:
Dividend of 8 13-36 per cent. a year, on ten millions of dollars actually paid to the stockholders, is, per annum $836,111
Undivided surplus on the 1st January, 1810, $409,410, divided by 18 years, would be equal to an annual dividend of 22,745
Leaving for the estimated annual amount of expenses and losses 161,144
Total $1,020,000
Tuesday, April 10.
The Mississippi River Pirate, Mason.
Mr. Clay presented the petition of Elisha Winters, stating that, in the years 1801, 1802, and 1803, the wilderness from Natchez to Kentucky, and the river Mississippi, was infested by a notorious gang of highway robbers, headed by a certain Samuel Mason, and that the petitioner was the means by which the said Mason was killed, two of his accomplices apprehended and executed, and the remainder of the banditti dispersed, and praying he may be allowed the reward offered for the apprehension of the said Mason by the President of the United States, or by the then Governor of the Mississippi Territory; and the petition was read, and referred to a select committee, to consider and report thereon; and Messrs. Clay, Whiteside, and Crawford, were appointed the committee.
The Senate resumed, as in Committee of the Whole, the bill for the establishment of a Quartermaster's department; and it was agreed that the further consideration thereof be postponed until to-morrow.
Tuesday, April 17.
The Vice President being absent, the Senate proceeded to the election of a President pro tem., as the constitution provides; and the Hon. John Gaillard was elected.
Ordered, That the Secretary wait on the President of the United States, and acquaint him that the Senate have, in the absence of the Vice President, elected the Hon. John Gaillard, President of the Senate pro tempore.
Ordered, That the Secretary make a like communication to the House of Representatives.
Wednesday, April 18.
National Bank.
The Senate resumed, as in Committee of the Whole, the bill making provision for the establishment of a National Bank.
On motion, by Mr. Hillhouse, to strike out the first section of the bill, the Senate was equally divided—yeas 15, nays 15, as follows:
Yeas.—Messrs. Brent, Champlin, German, Gilman, Goodrich, Hillhouse, Horsey, Lloyd, Meigs, Pickering, Pope, Reed, Smith of New York, Tait, and Whiteside.
Nays.—Messrs, Anderson, Bayard, Bradley, Clay, Condit, Crawford, Franklin, Gaillard, Giles, Gregg, Lambert, Leib, Smith of Maryland, Sumter, and Turner.
So the question was lost.
Friday, April 20.
Territory of Orleans.
The Senate resumed, as in Committee of the Whole, the bill to enable the people of the Territory of Orleans to form a constitution and State government, and for the admission of such State into the Union on an equal footing with the original States, and for other purposes; and on motion, by Mr. Clay, to amend the bill, by adding at the end of the third section the following words:
"Provided further, That the said convention shall, by an article in the constitution so to be formed, irrevocable without the consent of the United States, provide, that, after the admission into the Union of the said Territory of Orleans as a State, the laws which such State may pass shall be promulgated, and its records of every description shall be preserved, and its written, judicial, and legislative proceedings conducted, in the language in which the laws and the written, judicial, and legislative proceedings of the United States are now published and conducted:"
It was determined in the affirmative—yeas 17, nays 12, as follows:
Yeas.—Messrs. Bayard, Campbell, Champlin, Clay, Giles, Gilman, Goodrich, Horsey, Lambert, Leib, Lloyd, Meigs, Pickering, Pope, Smith of Maryland, Smith of New York, and Turner.
Nays.—Messrs. Anderson, Bradley, Condit, Crawford, Franklin, Gaillard, German, Gregg, Hillhouse, Reed, Sumter, and Whiteside.
Wednesday, April 25.
National Bank.
The Senate resumed, as in Committee of the Whole, the bill making provision for the establishment of a National Bank. And on motion, by Mr. Bayard, that the further consideration thereof be postponed until the first Monday in December next, it was determined in the affirmative—yeas 17, nays 14, as follows:
Yeas.—Messrs. Bayard, Bradley, Brent, Champlin, Crawford, German, Gilman, Goodrich, Hillhouse, Horsey, Lloyd, Pickering, Pope, Reed, Smith of New York, Sumter, and Turner.
Nays.—Messrs. Anderson, Clay, Condit, Franklin, Gaillard, Giles, Gregg, Lambert, Leib, Mathewson, Meigs, Robinson, Smith of Maryland, and Whiteside.
Thursday, April 26.
The Senate resumed, as in Committee of the Whole, the bill, entitled "An act providing for the sale of certain lands in the Indiana Territory, and for other purposes;" and having agreed to the amendments reported by the select committee, the President reported it to the House accordingly; and on the question, Shall this bill be read the third time, as amended? it was determined in the affirmative.
Mr. Gilman, from the committee, reported the bill allowing compensation to Robert Robinson correctly engrossed; and the bill was read the third time; and the blank having been filled with the words five hundred—
Resolved, That this bill pass, and that the title thereof be "An act allowing compensation to Robert Robinson."
The Senate resumed the motion made yesterday on the subject, which was amended and agreed to, as follows:
Resolved, That the Secretary of the Treasury be directed to lay before the Senate a statement of all claims which have been adjusted and allowed at the Treasury Department, in virtue of the law entitled "An act providing for the settlement of the claims of persons, under particular circumstances, barred by the limitations heretofore established;" and also, a statement of the balances standing in the books of the Treasury against the United States, which are barred by the statute of limitations, together with his opinion whether the said statute can be modified or repealed, as to that or any other description of claims, without subjecting the Government to imposition.
Mr. Clay gave notice that to-morrow he should ask leave to bring in a bill, supplementary to an act, entitled "An act for the punishment of certain crimes against the United States."
The bill entitled "An act authorizing a loan of money, for a sum not exceeding the amount of the principal of the public debt reimbursable during the year one thousand eight hundred and ten," was read the second time, and referred to a select committee, to consist of five members, to consider and report thereon, and Messrs. Smith of Maryland, Crawford, Lloyd, Franklin, and Hillhouse, were appointed the committee.
Territory of Orleans.
The Senate resumed, as in Committee of the Whole, the bill to enable the people of the Territory of Orleans to form a constitution and State government, and for the admission of such State into the Union on an equal footing with the original States, and for other purposes; together with the amendments reported thereto by the select committee. On motion, by Mr. Hillhouse, to add, at the end of the bill, the following words:
"Provided, That the several States shall assent thereto, or an amendment to the Constitution of the United States shall authorize Congress to admit said Territory of Orleans into the Union, on the footing of the original States:"
It was determined in the negative—yeas 8, nays 20, as follows:
Yeas.—Messrs. Champlin, German, Goodrich, Hillhouse, Horsey, Lloyd, Pickering, and Reed.
Nays.—Messrs. Anderson, Brent, Clay, Condit, Crawford, Franklin, Gaillard, Giles, Gilman, Gregg, Lambert, Leib, Mathewson, Meigs, Pope, Smith of Maryland, Sumter, Tait, Turner, and Whiteside.
And the report of the select committee having been agreed to, and the bill further amended, the President reported it to the House accordingly. On the question, Shall this bill be engrossed and read a third time as amended? it was determined in the affirmative—yeas 18, nays 9, as follows;
Yeas.—Messrs. Anderson, Brent, Clay, Condit, Crawford, Franklin, Gaillard, Giles, Gregg, Lambert, Lloyd, Mathewson, Meigs, Smith of Maryland, Sumter, Tait, Turner, and Whiteside.
Nays.—Messrs. Champlin, German, Gilman, Goodrich, Hillhouse, Horsey, Leib, Pickering, and Reed.
Monday, April 30.
Barred Claims.
The President communicated the report of the Secretary for the Department of the Treasury, made in pursuance of the resolution of the Senate of the 26th instant, on the subject of claims barred by the statute of limitations; and the report was read, as follows:
Treasury Department, April 28, 1810.
Sir: I have the honor to transmit a report prepared in obedience to the resolution of the Senate, of the twenty-six instant. I have the honor to be, &c.,
ALBERT GALLATIN.
To the Honorable the President of the Senate:
The Secretary of the Treasury, in obedience to the resolution of the Senate, of the 26th instant, respectfully reports—
That it appears, by the letter from the Register of the Treasury, herewith transmitted, that the statement of all the claims adjusted and allowed, by virtue of the act, entitled "An act providing for the settlement of the claims of persons under particular circumstances, barred by the limitations heretofore established," cannot be completed before the day contemplated for the adjournment of Congress, but will be prepared so as to be laid before the Senate at the commencement of their next session.
That the statement (A) herewith transmitted, exhibits the amount of the balances standing on the books of the Treasury against the United States, which are barred by the statutes of limitation, and arranged under the following heads, viz:
Loan Office certificates $90,811 36
Indents for interest on the public debt 64,590 98
Final settlement certificates 23,873 24
Commissioners' certificates 4,304 83
Army commissioners' do. 46,468 97
Credits given in lieu of army commissioners' certificates cancelled 28,674 30
Credits for pay of the army, for which no certificates were ever issued 17,132 11
Invalid pensions 16,635 46
Amounting together to 292,491 25
That so far as relates to the said balances, which result altogether from accounts actually settled at the Treasury, the statute of limitation can be repealed without subjecting the Government to imposition; but that considering the length of time which has elapsed since the claims have been barred, and the little value on that account affixed to them, the repeal of the statute, unless properly guarded in that respect, may not generally benefit the rightful claimants.
And that with the exception of those balances, it is not believed that it would be safe to repeal the statute of limitation in relation to any other general description of claims; although there may be special cases in which, notwithstanding the lapse of time, the proper proofs and checks may still exist, so as to prevent any imposition on the public.
All which is respectfully submitted.
ALBERT GALLATIN.
Tuesday, May 1.
Barred Claims.
Mr. Hillhouse, from the same committee, further reported as follows:
Resolved, That the Secretary for the Department of the Treasury report to the Senate, at their next meeting, the necessary provisions for guarding the Treasury of the United States from fraud and imposition on the removal of the statute of limitations, in relation to the following claims mentioned in his report of the 28th of April, 1810, viz:
1. Loan office certificates.
2. Indents for interest on the public debt.
3. Final settlement certificates.
4. Commissioners' certificates.
5. Army certificates.
6. Credits given in lieu of Army certificates cancelled.
7. Credits for the pay of the Army, for which no certificates were issued.
8. Invalid pension.
Also, how far the statute of limitations may with safety be removed, as to claims for personal services rendered in the Army of the United States, during the Revolutionary war, and the guard and checks necessary and proper to be adopted.
And the report was considered and agreed to.
Adjournment.
Mr. Crawford, from the joint committee, reported that they had waited on the President of the United States, who informed them that he had no further communication to make to the two Houses of Congress.
Ordered, That the Secretary notify the House of Representatives that the Senate, having finished the business before them, are about to adjourn.
The Secretary having performed that duty, the President adjourned the Senate without delay.