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immmmmm •*••.?•• ^agS* ••Kg*'- ^gS^M^&^&Mf - ,*. ^ 0 - V**- -// ^ - -S3-: , ^ ^ • • -»• -^ jF^™Jw™*f*W2F' ^jttJfcSPf —' r '^ \* ,J ~'~' **\ * \ rasolation of the epxedieot *hkh »«Ttr priwwrted itself to the S^Sl iti« fttatftft*^^ prtienllhfitfliw* to Hit m fjBimetociuse deiire id'flsticli of th# ween tb**J«rted States, W». E^ft?\ itk>nrMpecti»ftb« general , fc ., ..^^^l^^wae^&a* the Hon* so Mat? JM$«riM\%*» publto, |«iil»iii*i»#*i»Wi^^ottbtt4Po^*< ^owttKeaearetyyof #af^wiii^t«fc eor- deemincompi^bk with our interests, or out dirties. I»theintercouraabttweennstwrw,. temper i» a roiwooaw perhaps more pow. 4Kf*\gM)fe$i!iB^^ everJott by kind treatment; twthJOf was ever gained by sullea repulses and aspinng pretensions. But object* of thfl_b»ghestimporuoce, not only to the future welfareof tbe whole human ,«Wb M ^W^'-4lPwftf «F°n *• *P*4 al •mterejM&of tbi* Union, sctff engage the d> liberations of the Congreis of Panama, whether ; -«^tf fepjesente^ there or not. Others, if we are represented, way be offfer- »ed bj our plenipotetuiariet for consideration, having in view both those great reiults— •oj«\#wj^|oteria*i^»i|t| the fcnprovement of the condition of ijjfcan<tip©j|. ; <earth. It way be, that Wm i*$m «nf many centuries, no ii^iMi^Wliihf' - \ \ •'• \' ^ r^ •• / 4 v. 1 be» tb 4^^t*fa*d te ti» Ejects in whiefcM otjiei^ppoito^ «o4aforable will bo pre- J*p»#s^se4Jstt^Su^aree»MCted> - - • - - itJiMptJ^ ,l»ow M ynf or la tpwnise, that these m> ,4^*» dU «*« .jaroi the only, nor even the \• .mm$mm¥n<i&$f the _ t#*$!gM i«doce- tl^iiilbJit^ai^ai^kwhicb, m ^fa^\*mtm t het B*'J^ \ \as ' If\*-\ •-^W * ! . ltaStf» |S** M ^t^^£g3fe^bJL_^§ s'mjsri *Wl ?li their benefit a tejit states*, •i'ne ,. dfthtwNNp* 4roe*io^ 1^- mmmiliNM^ they mide an appropristronpf one hon- AmmpmA•»** \^ f ^ :- <f|jii$eejiotAi«^th%|d^ i raise .tefllffee^^oiilfi^qs'Of, la It js|e?*piej|spr#^ l| •*a%c&#df, he ire been paid anderhisdi. 'thft^f^of oof thwightitdwirsble that oar rela- d commercial, withtbe«e ftU^MIvutm \\\ r ^T^°An. wts^g CHITS. 1 wooW b»»t seat d*w, bad It b^e#«ii^*^^^ *«*# **t Tortfe lo them our reasons for aVJtuf^ tny proposal of specific aaeasures ta which they might cru«sera,andof»s»«itinf t 4a the amidst of wsjj to treaty stipulations, favorable '-'m niitesi s ^^^- : t «^sa».*.^ t -^**fc-— h -^»mo»aJaf them necesiiry^wbde, in the mean Ume, tohtries Me sustained by Bwrohantt and other indiridoals of the United States, which cannot be repaired, and the remedy lingers in orertaking the pernicious opera- ^whitshwoinbp sented to the, goverDment of the. V. to subserve the benevolent pirposesofBi- viae Mmmm%m••mevm #** pwmwed peace> on fMh fnd mm will to m%%aa „|tt i^VMmP^ •W-.par. ticipatiog in the deliberationa^ of this con- gress.- ^ '\\\.*\ '' papers, publwhed by the Republic of Colom- bia «it@pNt••* w•'w ^ ootreipondence ^fS|i^t||jflJh^|^a*iDter)ded %H*#Iii#^* sc «iW, ? Fanaroa, 'thei*#^#|ewone in which the .result of ;t|ejP||M^ii deeply ajfect ,tbe inter- :em^^CW»1»!dvS«ates. pv^n those in aemtty at Pensraa; and should tbey not b# ^'jiitt^fth^fiittfro IftOh as relates to these gen-1 [geielHl States ^lone wilt take arm have a powerful effect r relation* with flie A- ,, „,. Jf| with the principal %lbMli'ili%r'''' r .Wereit;metely that we, fTghj^Mr|^rand speedily inform^ of 5l^#PfM9w or we congresi, and of the >#^.W^»gM tf ^e\ ne-iotfotioos, I sll^JIMIladi^bie that we should have s| Wm&w,9&ffiy with, ihem, placed in a^^raWSMNUiifotts with the other memners avwould'ensure the authenticity, and thesife abd early transmission of its \Of tbe Same enumerated topics, are the JP^^oJa. wartfesto* setting forth to the world the justice of then; cau^ei and tbe rejatipiu they desire to hold with other chris- tian sowers; IB3^:'<o form.a.conventioii of SCTpSjW»\e^ .^pBablelioth to the Confederated states and their Allies. fwltthl fiiW Ae .fecolIeetib»of the boose, that tooledtately after,tbe ctose of tbe w# of oiir itfte^ipj I Insure, closely analogous to this Gbngress of Panama, was adopted by the e'oriarcss of our confederation, atw'^r' bjryeteel of yreci^ett the same char- ntif'MftpimM*ifonm f with pienipo- tentiary powers, Were apjpoin/ed to negotiate «rMt^e¥bfal8%* ria%|^tai%a0d corrimerce, wMr a|| the jjri|«6tpa< jpowera of Europe. Ife*#t;^rff resided for that purpose abjout ob¥p# atFarli; *-4fc#the ob^result'of their oe^otiatitot j» that time*, was the first treaty he^een the.tjp«ed States andFryfc _ ^\*\ preoious as a monument, of a to ^estsbliib from jlomatiCTeUtions ristng nations, is the moiteffec- The world, aiii precious as a monument of tjons of the witchlefc iTie settltwent of S eneral principle*, pervading with equal ef- Ksacj alt the American statety can alone pat an end to these evils, and can alone he ac- . omplisbs* at the proposed assembly. If it be true, that the noblest treaty of peace ever mentioned in history, is that by which the Canhageniaos were bound toa- boliib tbe practice of sacrificmg their own clliildree, btcaun it wu HtpdeUi i% ftam of kman nature, I cannot exaggerate to myself tbe unfading glory with which these United States will go forth in tbe memory of future ages, if, by tbeir friendly counsel, by thelt moral influence, by the power of alignment and persuasion alone, they can prevail upon the American Nations at Pa- nama, to stipulate, by general agreement among themselves, and so far as any of them may be concerned, the perpetual abolition of private war upon the ocean/ And if we cannot yet flatter ourselves that this may be accomplished, as advances towards it, the e stablishment of the principle that the friend- ly flag shall cover the cargo, the curtailment of the counterband of war, and the proscrip- tion of rtctitioufl paper blockades, engage*- nients which, we may reasonably hope, will n ot prove irapracticable, will, if successfully inculcated, redound proportionably to our honor, and drain the fountain of many a fu- ture war. The late President of the United States, in his message to Congress, of the 2d Dec. 1843, while announcing the negotiation then rending with Russia, relating to tbe North West Coast of this continent, observed that the occasion of the discussions, to which that incident bad given rise, had been taken, \for asserting as a principle in which the rights and interests of the United States were involved, that the American continents, by the free and independent condition which they bad assumed and maintained, were thenceforward not to be considered as sub- jects for future colonization by any Europe- an power.\ The principle had first been as- sumed in that negotiation with Russia. It rested upon a course of reasoning equally simple and conclusive. With the exception of the existing European colonies, which it was in no\ wise intended to disturb, the two continents consisted of several sovereign and independent nations, whose territories cov- eired their whole surface. By this tbeir in- dependent condition, the United States en- joyed the right of commercial intercourse with every part of their possessions. To at- tempt the establishment, of a colony in those possessions would be to usurp, to the exclu- sion Of* others, a commercial intercourse which was tbe common possession of all. It could not be done without encroaching upon existing right* of the United States. The government of Russia has never disputed these positions, nor manifested tbe slightest dissatisfaction at their having been taken. Most of the new American republics have declared their entire assent to them, and tbey now pro ** tgon of tbat principle, as well as tbe means ' !§•!! h If Wnf 1 ,jwffejp •![!•• jr» -^t£am'^ .mk eetmgjn ~*ir^- a .>?>- If that even it the the first treaties : - ateiihW it iParrama. And it wiU be seen IllttifO far is it imght concern f a>e Unrted mi^£mU,Vk #kb what frankness and good ;<Spb5e^&^^^^S^^^d; ^PW\W^^^^W^W^ ^W/ ^P^PP^^^^W^Wpj* ^w ^W^»^^W^W^^W ^w^pv^* \ proposal «<• .. H ^>A^^Jj^^l i ttjj^&LMffi: t^ttjaWr'&H^\' J«|iqmi,, r -?*^i»MH»» 2&i&lptk>'!*p'?*'-^ -la <u. •--J** fj»v- i .;-«»* ' 'JmjLm It .Iraifi* «waipwwpwf ww^r ww *• ^» wpet^w \' fme*Biilia ' tlMMiiiinadek «*to •^S«P!^'i _^(W^PW|B^ 'a*.«Cfc entered upon her career, as a member of the great family of independent nations.' This treaty, prepared in conformity with tbe in- structions of the American plenipotentiaries, consecrated three fundamental principles of asthe the foreign intercourse which the congress of that period were desirous of establishing.— Firkj equal reciprocity and the mutual stip- ulation of the privileges of the most favored nation, in tbe commercial exchange of peace. Secondly, tbe abolition of private war upon the Ocean; andi thirdly, restrictions favora- ble to neutral commerce, upon belligerent practices, irith regard to contraband of war, and blockades. A painffll—it may be said a calamitous experience j of more than forty years, has demonstrated ttie deep importance provperhxbY this nation; and to the welfare of all maraiime states, and bars illustrated the profound wisdom with which tbey were i^ttnjM4 f i*e*^ihal |tomts of the policy tf AtthattimtVin the infancy of their po- litieai existence, under the influence of those Mtf&ti of lieViyinlPorf ihl, so congenial and trtumpbed, they wsre .We but to obuin the sanction of one great and philosophical, Itheiil i«d eiillpep^tineito lliey IH^uog /ro#> «h»swg*n«, cottl^ .<mtemjmm 4 iuiciKthen, a polit- k ^*W^^^Mm^^mH^fam,^ least tr» AawricaA' ati««pber» r^rift^ - and re- Ajrf oow,attbis propitimii ma ^''^0m^i Ms hemis- tbeir representatives, ©ontinents, ef« nations and —.—,»..«.-. s . w «exrre t flcy 1 *ftr- - sioaa.tehiiiaMWiani*^ \ '\ ^n*i« ,^i!**«f i***\ 1 •\•\et*w . . my- interference from abroad with concerns ofthe American Gov- ernments. In alluding to these means, it would be obviously premature, at this time, to antici- pate that which is offered merely as matter of consultation, or to pronounce upon those measures «*hich have been or may be sug- gested. The purpose of this government is to concur in none vhicb would import hos- tility to Europe, or justly excite resentment in any of her states. Should it be deemed advisable to contract arty conventional en- gagement on this topic, our views would ex- tend hb farther than to a mutual pledge of the patties to t^e compact, to maintain tbe principle in application to its own territory, and to permit no colonial lodgments or es- tablishments, of European jurisdiction, upon ills owu soil; and with respect to the obtru- sive interference from abroad, if its future character may be inferred from that which has been, and perhaps still is, exercised in more than one of the new states, a joint de- claration of its character, and exposure of it to the world, may be, probably, all that the occasion would require. Whether the Unit- ed States should or should not be parties to such a declaration, may justly form a part of the deliberation. That there is an evil to be remedied, needs little insight into tbe secret history of (ate years to know; and tbat this remedy may best be concerted at the Panama meeting, deserves at least the experiment of consideration. ' A concert of measures having reference to the mote effectual abolition of the African slave trade, and tbe consideration of tbe light in which the political condition ofthe island cf Hayti is to be regarded, are altf ampog tlia subjects mentioned by thrminister from the republic of Colombia, as believed to be suitable for deliberation at the Congress.— The failure ofthe negotiations with thai re- public, undertaken during the late adminis- tration, for the suppression of that trade, in ma*, cprnpliance with a rewlutionof theHoOsepf firir iBeprescrrtatiireS, indicates the expediency of f iteninrflth respectful attention to prop©- lions which may contribute to the accom- |piu«|tttof. the great end which w» the purpose of that resolution, while the result of tbosemgocistkms will serve at admonition to abstain from pledging this $y#rnmeot to a»yar«ntetrient which tt|ighFM ekbectel S f.il of obtaining*be*d*ce &*££* Whether tiwpoKilcaicc^drtio^^ IM f«tM:»P**hefcwqgbt ajt al| 4rtto ta^ by thafotwnas^tc/rheUn^ State* mm/mm* «^. toa*pe«dem. Ad4ta#rnU mm&mmmim by aWatef esoWva concurred in, to declrna aocading to any ar- rangement which may be proposed on differ ent ptiociplos. • • •\ **-••-•'•••• ^ •- : -.- .; The condition af tbe islands of Cuba *nd Potto Rico, ii of deeper Import, and more immediate hearing upon the present Interests and future prospecta of our Union. The correspondence herewith transmitted will show how earnestly H he| engaged the at- tention of this government. The invasion, of both the Islands by those united forces of Mexico and Calontbia, is avowedly among the objects to be malured by the beligerent states at Panawja. The convulsions to which, from the peculiar composition of their population, they would he liable in the event of such an invasion, and the danger therefrom resulting, of their falling ultimate- ly into the bands of some European power, other than Spain, will not admit of our look- ing at the consequences to which the Con- iress at Panama may lead, with indifference. t is unnecessary to enlarge upon . tbii to- pic, or to lay more than that all our efforts in reference to this interest, will be to pre- serve the existing state of things; the tran- quility of the Islands, and the peace and se- curity of their inhabitants. And lastly, tbe Congress of Panama is believed to present a fair occasion for urging upon all the new nations of the Sooth, the just and liberal principles of Religious Lib- erty, not by any interference whatever in their internal concerns, but by claiming for .our citizens, whose occupations or interests may call them to occasional residence in their territories, tbe inestimable privilege of worshiping their Creator, according to tbe dictates of their own consciences. This prtvilego r sanctioned by the customary law of Nations, and secured by treaty stipula- tions, in numerous national compacts; se- cured even to our own citizens in the treaties with Colombia, and with the Federation of Central America, is yet to be obtained in tbe other South American States, and Mexico. Existing prejudices are still struggling against it, which may, perhaps, be more successfully combatted at this general meeting, than at the separate teats of government of each re- public I can scarcely deem *' otherwise than su- perfluous, to observe, that the assembly will be, in its nature, Diplomatic and not Legis- lative: tbat nothing can be transacted there obligatory upon any one of the States to be represented at the meeting, unless with the express concurrence of its own Representa- tives, uor exen then, but subject to the ratifi- cation of its constitutional authority at home. Tbe faith of the United States to foreign Powers, cannot otherwise be pledged, I shall, indeed, in the first place, consider tbe assembly as merely consultative ; and altho' tbe Plenipotentiaries of the United States will be empowered to receive and refer to the consideration of tbeir government any prop- osition from the other parties to tbe meeting, they will be authorized to conclude nothing unless subject to the definitive sanction of this government in all its constitutional forms. It has, therefore, seemed to me unnecessary to insist tbat every object to be discussed at the meeting should be specified with the pre- cision of a judicial sentence, or enumerated with the exactness of a mathernaticial dim-, onstration. The purpose of the meeting it- self, is to deliberate upon the greatand com- mon interests of several new and neighbor- parties to it. That the purposes of tbe meeting are somewhat indefinite, far from being an objection to it, is among tbe cogent reasons for its adoption. It is not the estab- lishment of principles of intercourse with one, but with seven or eight nations at once. Tbat, before they bave had the means of ex- changing ideas, and of communicating with one another, in common upon these topics, they should bave definitively settled and ar- ranged tbem in concert, is to require that the effect should precede tbe cause. It is to exact, .as a preliminary to the meeting, tbat for the accomplishment of which tbe meet- ing itself is designed. Among tbe inquiries which were thqught entitled to consideration, before tbe determi- nation was taken to accept tbe invitation, was, that whether the measure might not have a tendency to change thepolicy hither- to invariably pursued by tbe United States, of avoiding all entangling alliances and all unnecessary foreign connections. Mindful of the advice given by the father of our country in his farewell address, tbat the great rule of conduct for us in regard to foreign nations, is, in extending our com- mercial relations, to bave with them as little political connection as possible, and faithful- ly adhering to the spirit of that admonition, I cannot overlook the reflection, that the counsel of Washington, in this instance, like all the counsels of wisdom, was founded up- on tbe circumstances in which our country, and tbe world around us, were situated at the time when it was given. That the reasons assigned by him for bit advice were, that Europe bad a set of primary interests, which to us bad none, or a very remote relation.— Tbat hence she must be engaged in frequent controversies, the causes of which were es- sentially foreign to our concerns. Tbat our detached and distant situation invited and enabled us to pursue a different course.— That by our union and rapid growth, with an efficient government, the period was not for distant when we might defy material in- jury frOm external annoyance; when we might take such an attitude as would cause our neutrality to be respected | and, witbref- erenceto belligerent nations, might choose peace or war, as oar interest, guided by jut* tice, should counsel Compare our situation and tbe circura- ttancet of tbat time, with those bf the pres- ent dav, and what, from the very w#cVof Washington then, would be bis counsels to m actkm m$ counter wa would. The rapidity of our. g« the Gontequent incrcase'of our strength, bat by a bill, for the inotetbanrealixe^the anticipations (>f% tribe* within * u admirable polkcal legacy. TWrtyr years! provides, ej imfews^atrs^-Mr. at War. hat addressed a letter to \ man of the the Bouse of ttepresematives,; •5 & ± -JJ fWf have nearly elapsed since ft was-written, and in the interval, our population, oar wealth} our territorial extension, out power, physic- al and moral, has nearlftrehled. Heaien- ing upon this *teto«f jtMn^rom *&* sound and judicious principles of Washington, and must we not say, that the period which he predicted *s then not far off, bas~ arrived ? ,That0iiers>*has a set of primary Interests, which have none, or a remote relation to Europe, ^atth>tnterr%r«oe«botEarepe, therefore, in tbof#«onclrnt f #ould be »pon- taneousfy wfthelcl try $e* upeii *he tame prMple that tfe have never interfered with hers: and that if the should interfere, as she may, by measures which may have a great and dangerous recoil upon ourselves, we might be called, in defence of our own altars and firesides, to take an attitude which would cause our neutrality to be respected, and choose peace or war, as our interest, guided by justice, shall counsel. The acceptance of Ibis invitation, therefore, for from conflicting with the counsel or the pol- icy of Wasbfneton, is directly deducible from, and conformable to it. Nor ii it less conforms- ble to the views of my immediate predecessor, as declared in tus annual nussage to Congress of tbe 2d of December, 1823, to which I have already adverted,and to an4su>ortent passage of which I invite tbe attention of tbe House.— « The citizens of tbe United States,\ said he, \ cherish sentiments tbe most friendly in favour of toe liberty and happiness of their fellow men on tbat (the European) side of the Atlantic.— lo tbe wars ofthe European powers, in matter* relating to themselves, we bave never taken any part, not does it comport with our policy so to do. It is only when our rights are invaded, or seriously menaced, that we resent injuries, or make preparation for our defence. Witb tbe movements in mis hemisphere, we are, of ne ceslity, more immediaily connected, and by causes which must be obvious to all enlightened and impartial observers. Tbe political system of tbe Allied Powers is essentially different, in tnis respect, from tbat of America- This dif- ference proceeds from that which exists in their respective governments—and to the defence of our own, which has been achieved by the less of so much Mood and treasure, and matured by the wisdom of their most enlightened citizens, aod under which we have enjoyed unexampled felicity, this whole nation is devoted. We owe it therefore, to candour, and to the amicable re- lations subsisting between the United States and those powers, to declare tbat we should consid- er any attempt on their part to extend tbeir sys- tem to any portion of Ibis hemisphere, as dan- gerous to oar peace and safety. With tbe exist- ing colonics or dependencies of any European power, we have not interfered, and sbaU not in- terfere. But with declared tbeir independence, and maintained it, and whose independence we have, on great con- cidertion, aod on just principles, acknowledged, we could not view any interposition for the pur- pose ef oppressing tbem, or controlling in any other wanner, their destiny, by any European power, in any other tight than as a mantfosta- iton of ao unfriendly disposition towards tbe United States. In tbe war between those new governments and Spain, we declared our neu- trality at the time of our recognition, and to this we bave adhered, aod shall continue to adhere, provided no change shall occur, which, in the judgment of the competent authorities of this government, sbaU make a corresponding change on the part of the United States, indispensable to tbeir security.\ To the question which as«y be asked, whether ljusted and settled by ft as rales of intercourse between the American nations, may not give umbrage to tbe Holy League of European Pow- ers, or offence to Spain, it is deemed a sufficient answer, that attendance at Panama can give no just cause of umbrage or offence to either; and that the United States will stipulate nothing there which %an give such cause. Here the right of inquiry into our purposes and measures must stop' The Holy League of Europe itself was formed without inquiring of tbe United States whether it would or would not give umbrage to tbem. The tear of giving umbrage to tbe Holy league of Europe was urged as a motive for ae- nying to tbe American nations the acknowledg- ment of their independence. Tbat it would be viewed by Spain as hostility to her, was not only urged, but directly declared by herself. The Congress, and Administration of tbat day, con- sulted their rights and duties, and not their fears, fully determined to give oo needless displeasure to airy foreign power. The United States can estimate the probability of their giving it only by the right which any foreign state could have to take It from their measures. Neither the representation of the United States at Panama, nor any measures to which their assent may be yielded there, will give to the Holy Leagae, or any of its members, nor to Spain, the right to take offence. For tbe rest, the United States must stiU, as heretofore, take counsel from tbeir duties rather than then* fears. Such are tbe objects in which it is expected that tbe Plenipotentiaries of the United States, when couimissioned to attend the meeting at the Isthmus, will take part; and such are the motives and purposes witb which the invitation ef the three republics was accepted. It was, however, as tbe House will perceive from the correspond- ence, accepted only upon condition tbat the nomination ef Commissioners for the mission should receive tbe advice and consent Of tbe senate. The concurrence of the House to the measure, by tbe appropriations necessary for carrying it ipte effect, is a like subject to its free determination and ^dispensable to tbe fulfilment of the intention. That the Congress at Panama wiU accomplish •11, or even any of the transcendent benefits to the humanTace, which warmed tbe conceptions of its first proposer, it were, perhaps, indulging too sanguine a forecast of events to promise.— It i»,inlts oatare, a measure speculative end experimental The blessings of Heaven may turn it to the account of human improvement. Accidents unforeseen, and mischances not to be anticipswd, may bafle ail its high purposes, and disappoint Its fairest expectations. But the design 1 Is great, is benevolent, is humane.— It looks to the roeliaratian of the condition of 3»- fl , N ewiwW with that spirit which prompted our declaration of Indepeadfnce, wkichiaspired tbeprtasaWe to«\ figures' with Fraaee; which dktated «or first trtt I. The country west of tba am m r-Jlj\ mveh on the east of the set aptrt for their exclus *. T^irretnoval by individuals, tradiKinttioo to tribes. »< • 8. A territorial government to be tamed hjnhWnited States. - «* 4. IfcircunWnces shall eventually justi fy iMheextinctVmof tribes, and their amal. gamation into one-jaw*, and a distribution property among thtt^. •':•.-«' 5. It leaves tijeMnornouo^hose tbat re- main unaltered, ' \^\\V ' '* **'^'*]f^p Mr. Garnsey, we observe, (and probably in reference to the same subject,) bas intro- duced in the House a resolution, >«Ftttf*«B*8s committee on fndixn ^ inquire into the e appropriation for * holding a Indiana'west of Genesee New York.\ A total went treat, has ever dians, in ail their recent transactions with the whites j yet, tbe philanthropist who wit. nesses their present wasting and degraded condition, cannot but hope tie time is nor\ far distant, when their removal to a pjace Of j;p greater security and bappinesrroay beeffect- - ^^ ed—fiu/. /ottr. ^ #&m mtgfBlnture of ^a W Hfpa ^9 HP 3S2 •m &m. RATE OP INTEREST—UStJItT LAWS. Debate in me Houst of Assembly, on tiit, biUtortgulcUtlhtrateoflntertit. Mr. Huntington proposed an amendment to the first section ofthe bill, the effect of which, if adopted, would he to leave the rate of interest the subject of agreement h|-' tween parties, and virtually to repeal theu^ , ;f *&* surylaw. Restated tbat bis object in pro- paging tilts amendment, was to open the door to a full discussion of the question,— He intended not at present to say any thing on the question, but waMesirous to team tbf ._ views of members. Mr. Woodcock said he was not prepared . to discuss tbe question of abolishing the usury laws. Whatever might be good poli- cy in relation to this, subject at some future day, the present, he was satisfied, was not the proper time. Be thought the repeal of the nsury laws would not operate as injuri- ously in our cities as in the country, where' the farmers were in debt, who would be sub*; jected to excessive extortions, if the usury the governments who have | laws were repealed, to save their property from being sacrificed by tbeir creditors-. Gen. Root objected to the amendment proposed by Mr. H. as it would embarrass the principle of the bill introduced by hhn, which was to establish a uniform mpde «fi^||| compntmginterest, Vfofamsito6&lifa&^ bill proposed to establish a rate of tnterest^v.J\ but tbat provision was only introduced as \ connected with the subsequent sections in the bill, fie wished his bill passed upoo, disconnected with the other sub|ect, and then he would be willing to meet the question of theprouriety and policy of the usury laws. Tbe Speaker said be thought the whole subject of interest might as well be disi now a* when another bill, which was btl be called tip. He enforced tM argunwWs* ii I* he bad on a formerday submitted. ifealluM ded to the fact that in Holland, a usury law bad never been enacted, and yet the rate of interest in tbat country, for a century past had not been higher titan from 2 to 5 per cent. In England the impolicy of those laws was now very generally admitted; and there was but one opinion amongst every i||| political economist wbo had written on the subject for the last ton years, that those laws were against the best interests of a country. |ll Louisiana bad no usury laws, and he hoped\ §fii Hi. York would have the honor of titling the/ \'\\ lead on this subject, amongst the older states of the Union. If gentlemen had doubts of tbe wilting reception by the people, of ave-\ peal of the usury laws, he proposed that the repeal should not operate until near the close of the next session of the legislature. ' He made this proposition so that the subject might he generally understood, become He topic of examination by our citizens, and be discussed in our newspapers, and if people did not approve of the policy, the at tbe next session might be repealed. H \*• Mr. Porter said it was not hit intention to detain tbe committee by an elaborate discus^ sion of the subject, but he deemed it material to ask what were the objects intended to be secured by the prohibitions against awry; This was necessary, in order to determinelai to their propriety and policy. At the adop- tion of the uiury laws, at an early period of the English history, there was liltie compe- tition; there were few lenders, and feweF borrowew amongst men of busteestT TW borrowers were chiefly young men, the m- coosiderate heirs expectant of estates, who chose in this way to anticipate tbe enjoy- ment of their fortunes; and who were in the habit of obtaining money at the most exhor- bitant interest. It became therefore abso mm mm$®$M& with Prassia, and the imtructieas uadtr ....,„ 'i,'!' 1 \ «t\ '»pvw« wapm^smmmmjj|B| - .STITA????: WWwf SWj SWWW- WWW V^pSt w&!SKds2BvS£ «*Mf*WHrMlM WlSBt..-..,.. .,.w.---^- , ^.^.Mmmmm- \^™\\™F T^Hni '**v wit iii mto ['Miii alerf fc-ki»* Aa •p^awff ^w B #^Kn M pi\p^ itttttt ?^te»^r»«a^»tawiit^ ^WswtT-. » • totely necessary to protect this kind ojf jbor- rowera from this kind of lenders. Il wa> requisite that the law should stand between *9 «np|tt*enw^of ^tibatal the w^iMiM the money lender. But in cwnmerciaJ countries it thn present 6%, tne pressed object of these laws jsto — - - s from the raj lender from money, if he cai profilable way. ask bimself, and itis right tbat be so, is there any node of investment i!«aaf««aM8hJl^^ *'\ If there is,lie avails himsfl he ac^antttha terata icf thefawi. wonld evea S gee *•*«. - or^leiij.iif :isiof modia; iaaa ttauilaaQMHL. ttt< beharno^ isexorbita usery laws in the cities •»# J llejrit under the tieoeesity 000. i $e tttast «a*e-st»ane to-day. Sehasa'rea1^estette»a ; ^|^«^ymflo^iotrtt. This trrtere5t,say 15 'pa ftei^fawfasy. usurous: you shall n market end receive $m mi $mm tor a twelve t»om*| ba Into the market with your es and sacrifice it for $1000. Tbi es, as well as the contradiction enough. I also object to the Is cannot\He* ett^rceaT The waa sfii^i of mankind render it a 1 It myites to evasion, and the artful elude all |» provisions, protect ti?e jpoor end aece^sttoij ti^*vtttmt*it& additional but applied to, the lender says, I • &t. la ttoe whole vahte «f * enough, and al much as I oug mJaifagfr JW| me money s intere^I iacjira risk byso^t myself to tbe penalty of the la risk you must give me an ad cent* . 3$te moral sense of a m hln^to ^^e^#V^rhn»»'^ rate of interest thaiHliat fixed provision. He knows that b law j gad to guard apmsttiie of $m yisJati»n, he e*tete prenxiuca. v Iam decidedly of Jaws ought to oerjej iwtwi* ieboujdbeprosp li^^laips..''-' ;|tw|ui very'evb cafe of interest s|fw estebJisberi nota lair coroj^psaiwM.m if tifci^ffl£SS4rSl? V vtas ,wjmm aj»d, «»i«J c^jh^b^^»j$j^^ijf httj^lyEKW inen,„«^. ; ^a|!e4^-,*n| jfaciuring and other branche baa. \s®&j$m. money lis measure, and __^m tim*W-*eim5^ros| ingauniform mode of calcu fe^ w^a^oppised to tepsajmg i bS^eajfed^ tettJ»»«¥ | gen^al^sejasf^fthecommuBa viuced tiaa$# &&$»* ^»©ck t ,.._ saWbewat the opinions of modem write jjfo and he tu% admitted t their reasoning, and bought l^taa^ere^ps*^ 1158 *^ ' would be sound policy. tie a however that eucii e^neasure and that it was o©t-ex©&d s peated to be the opinion of i wjl^^rerein lmm*¥ «h« *» were willing that the law the should not go into effect for Why it tbis jbti^ieciwse tiiey He mind U not P^P* 7 ^ , (ot % , jley* thought ««ti»erwfee tb sist upon the passage of the lea ve it to the subsequent rat! B,li|^lkorooo«ed mm B ^itjation. Mr. Foote expressed bis B *\ il-.flf 4 tiire.flsufjriawa; b wrong in principle, ai lid not expect it* He w I we had already *mli establuhed by oav courts* w* ally Iraown totimneonle. I'OT' cpiif and a Mr. ^gtrom rtver, t the -i who guided the boat, own l£6jims^k±~ <# - •''•^-' •Ajfesifa?:. .,'li^. eiiaeitarieeat wntaimwmaAflE ViAmV \ tSkiHi^^ftat^fStfvBB^r •HyW^fv*' w-laW ' w*P — ir''*Jw^!eHra*^a fvHHm SP-W~flE^F 'fgM^BMjmr; pm&HL ^^^T™\ • ^WwWJBWB^WSp \ l^^jgeWmB^ ' ^;- ep^P* y -SBHMMBBBHIWVVV \Tg^^^^flPWB^^^^S^S^^mjWSjB7^SBSam^|»-^Pw: flBTSBWffW^W^U ^B^S^^^B^SW^B^^mjBa d_Mms»Vsm^laBtimV'BV -\w\- 1 ^Mm^mai-~''JMJBKl * *~' 1 ^™^^wF5i ^™awpw™r*ai\* - etw\ fltmB^^BF' ~^^^R^^_
