By this Mornings Southern Hail.
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In the Senate to-day Nh TALtAADeE Ptesenied eus-
h ~ c,,;zeas OF New-York Tor Bankrupt Law lie ,oOk
occasion in brief aad powerful express Il, co.,


;oD Of Tie interest and Importance OF this subec,


ss Of te .o,,re Union and OF the necessity OF acGOa 0.
~ Con-re., at the prssen; Session He referred
da, alton that had been made that the Di "o'.d not pass
>, bs S.,o. from, he opposition Of Mr. Clay and As BE-
lief q the untruh of this and ha; the distinguished Senator
as ever was ready comply with he w''eS o. Hs s'pe
in this bill as soon 4. could De reached


Messrs. WALXEE Iiss and MoREAEAp 0''eny ss'e
their views favor OF suck bill


Other petitions of this character were presented and also
petition by Mr. TArPAs from citizens OF Ono against 'he
establishment OF National Bank, Po'ecIne laFa The
Distributor OF the Proceeds Of the Psbc Lands and the As
SUMPTION Of the State Debts


Mr. SMITH of Ia from the Committee on Public Lands
reported the Distribution Bill from the House, with amend
ment..


The special order the Fiscal Bank s then taken Up
Mr. WRIGHT offered amendment striking out the ciaaie
providing for the purchase BY the Government Of
the capital He briefly advocated it, the ground OF 81
entire divorce Government with oneyed institutions and
on the ground of 6nanciai policy


Mr. Clay replied showing that the Senator had entirey


,oosd the design Of this institution, which vas to regu
ate ;he currency and effective IN Us operations Pr
ornr the government from the losses sustained by the
svattwou,s and Prices under the Sub-freasuFy


I, wa, farther debated by Mes-rs CLAY WRIGHT and
Cuor AZ some length In the OF the debate Mr.
CLAY n reference to the ue already consumed in this BILL
declared M, willingness to support proposition which
should place the b.siaess The session m the hands OF the
majority The people demanded action action, and he
was for complying with their request


Mr. C,LHors said the cry for relief from those who
were interested in State Stocks and wishing another
exnapon OF the currency to relieve theu-tha the cry f
action was nothing bu, cry for Plundsr, plumber
To the sturdy yeomanry and the business portion OF the com
munity who are looking anxicusy TO the measures OF


ru Of this Extra Session will refer thi. sentiment TOT
decision The amendment, was rejected by Yeas - Nays97
Mr. WR,cHr offered an amendment prohibiting the Sc


,, of the Treasury TO subscribe for the United States
the onehird Of the twenty millions be subscribed by pr
ya,e individuals and providing that the Bank shall not do
business till this whole amount Is taken up by individuals
and cor.oratons and briefly advocated IT. Mr CLAY OF
Nv opposed this with his usually profound and clear reason
ing and in his remarks touched the unconsn'uona
repeal OF ,. charter before the period OF It's Limitation 10
this Mr.. BucRASAy replied in spirited manner contend
ing that the power OF Congress to repeal tue cha
,ers of Public Institutions any time Mr CLAY reoea'
and Mr. BUCHANAN again replied, IN an Interesting MANNER
showing the gigantic abilities of BOTH and the tremendous
power OF the arguments OF which both possessed
This amendment was rejected. Yeas 2l-Nays 2S.


Mr. CLAY of Alabama, offered amendment, providing
that the President appoint those directors to which the nd
yiduo stock which may be taken BY Government entitled
which was rejected: Yeas II, Nays 27


Other slight verbal amendments offered


The House immediately resolved itself into Coumttee
of the Whole Nlr Briggs the char and took up the
Loun Bill.


1t was opposed by Messrs J. W. Josgs and ArHERroS
and advocated by Messrs G. DAVIS OF Ky DAwsoS ard
FILLMORE The hour of having arrived, the debate
ceased under resolution Of Friday and the Committee pro-
ceeded TO vote on amendments 1t passed in Commit
Ire; and in the House Mr. MoRGAs moved the Previous
Question. which was sustained-Yeas l26, Nays 49, ;


The amendments having been agreed the bill! was then
passed: Yeas 1877 Nays 81. AS amended the bill pro
ydes or loan Of twelve millions Of dollars, at I per cent
interest redeemablc in less than three more than
eight years.


The houraw for speeches. and the resolutions to take out
of Committee at special times work we'll and greatly ac-
tate action on measures of relief and reform anxog
awaited BY the peops, who will fail to reProbate W.
Calhoun, sentiments, before noticed. ARGUS.


APPoIN rMENTs BY THE PRESIDENT,


By aud nth the Gdvice and con,en, Of The Senate.


CHARLES AsrHosY Attorney of the United States for The
District OF Ohio.


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