Correspondence of the Charleston Mercury.
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WAsHINGToh, June 4.

 At the opening of the Senate this morning, Mir. Clay rose and stated that he instructed by the Committee on Finance to report bill for the repeal of the Sub-tseasury law, which he moved might be ordered to second ieading, and made the order ol the day for Monday next. MT. Wright desired that the bill might be read, and gave notice that he would object to it's second reading to-day. The bill was then read, and is follows:

 bil to repeal the act entitled "An act to provide

 for the collection, safekeeping, transfer, and dis

 bursement of the public revenue,' and to provide

 for the punishment of embezzlers of the public

 money

 SEC. 1. Be it enacted by the Senate and House of Representatives of the United States of America, in Congress assembled, That the act entitled "An act to provide for the collection, saekeepng, trans fer, and disbursement of the public revenue" ap- proved the 4th day of July 1840 be, and the same is hereby repealed provided, always, that, for any offences which may have been committed against the provisions of the I7th section of the said act, the of lenders may be prosecuted and punished according to those proyisions-anything heren contained to the contrary notwithstanding.

 SEC. 2. And be it further enacted, That if any officer charged with the saiekeeping, transfer, dis bursement of public moneys, or connected with the Post Office Department, shall convert to his own use in any way whatever, shall use by way of invest ment in any kind of property merchandise, shall oan with without interest, any portion of the pub

 lie moneys entrusted to hIm for saekeepng disbulse- ment, for any other purpose, every such act shall be deemed aud adjudged to be an embezzemcpt of so much of the said moneys shall be thus taken, converted, invested, used, loaned, which is hereby declared to be felony, and the refusal to pay on demand any public moneys in his hands upon the presentation of warrant drawn upon him and signed by the Secretary of the Treasury shall be na facie evidence of such conversion to his of much of the public moneys may be in his hands. Any officer or agent of the United States, and all persons advising and knowingly and willingly participating in such embezzlemenl, upon being convicted thereof before any court of the United States of competent jurisdiction, shall for every such offence forfeit and pay to the United States fine equal to the amount of the money embezzled, and shall suffer imprison- msnt for term not less than six months, nor more than five years

 The promptitude with which this bill, so impor- tant in its bearings, has been produced. eyinces wonderful degree of industry the part of the com mitee-the subject have been referred 10 them only the evening previous. But the passing of it will not be quite SO easily accomplished; and if the public to be favored with sight of MT. Clays new mon ster until the rubbish" 1f the Su-reasury is cleared of in the Senate their curiosity will remain ungrated for weeks at leasI.-'The bill was ordered to be printed, and made the order of the day for Monday It will not be taken up that day, however, there will probably be debate on the subject of Mir. Websers recent letter to the British Minister on the case of Mcleod.

 Some petitions having been presented on miscel' laneous subjects, a debate the character of tr business which 1t would be proper to engage in afng the present session, and general desire was manifested tI confne 1t to certain specified objects, and resolution that effect will probably he ntro duced on Monday nex.. Mr. Clay then moved that the Senate adjourn until Monday, with an intima ton, however that they need expect the frequent recurrence of such indulgences holiday during the present session. The Senate then adjourned.

 The House was not in session to-day.

 WAsHINGTos, June l.

 Yesterday the Report of the Secretary of the Treasury came in. The Report spoke of fiscal agency in the shape of a Bank, which might be so constituted to avoid the constitutional objections hitherto entertained against such an institution But the Report did not contain his scheme or plan. Mir. Wise moved Resolution calling the Secretary for his plan. Several of the Wings opposed the resolution and it was under consideration, when the House adjourned until Monday next. The reason for the opposition is this. Mir. Ewing's plan embraces Bank of discount and deposit, merely; but not Bank of issue. This did not please the Whg leaders,, and therefore they got Ewing to sup press it in his Report. But some of the Southern Wings who really have conscience are determin- ed the plan, and with the aid of the opposition, they will get 1t, unless Ewing says he has nOne or IS induced to alter it to suit the party.

 You will perceive that the House has not adopted any rules yet Mir. Adams interposed his abolition ism, and required the 2lst rule be rescinded. The Southern Democrats ofcourse enjoyed this excessively to sec Wise and Johnson fighting Adams and SIade. They yesterday voted against the previous question, in order that the fight amongst Northern and Southern Wings might go on. But ultimately they will vote they did last Season, and the rule will be retained The vote when it occurs will show what has been repeatedly shown on the floor; but which it seems impossible to convince the Southern people of-that the only friends the South has from the North this subject, by whom importunate agitation might be prevented, are amongst the Democrats from the North-They are strict-constructon State Rights men, and consequently recognize right to non- interference. Abotionism is the result of Federalism, and the Southern men who have aided in putting this party in power, responsible for its this vital subject.