ad held on deposit, to the State banks. They had loaned
these funds on securities, often of doubtful value or worthless,
and when the day of reckoning came general bankruptcy ensued.
Manufacturers were obliged to discharge their workmen; provisions
were scarce and dear in the Atlantic States, because funds could
not be obtained for the removal eastward of the Western crops; and
there was much actual distress in the large cities on the sea coast.

To quiet the popular clamor, President Van Buren convened Congress
in an extra session, and in his message to that body on its assembling
he proposed the establishment of an independent Treasury, with sub-
Treasuries in different cities, for the safe keeping of the public
money, entirely separate from the banks. The Whigs opposed this
independent Treasury scheme, but, to the surprise of those with
whom he had of late been politically affiliated, it received the
cordial support of Mr. Calhoun. When Congress began to discuss
this measure, he became its champion in the Senate, and soon "locked
horns" with Mr. Clay, who led its opponents. The debate was
continued session after session, and in time Messrs. Clay and
Calhoun passed from their discussion of national finances into an
acrimonious reciprocal review of the acts, votes, and motions of
each other during the preceding thirty years.

During the debate in the House on the bill authorizing the issue
of Treasury notes there was an all-night session. The Democrats
had determined in caucus to "sit out the bill," and whenever a Whig
moved to adjourn his motion was promptly negatived. As darkness
came on the lamps were lighted and trimmed, candles were brought
into the hall, and the older and feebler members "pairing off,"
took their cloaks and hats and left. The House being in Committee
of the Whole, whenever they found no quorum voting, were obliged
by the parliamentary usage to rise and report that fact to the
House. When this was done, and the House was again in session as
a House, behold, a quorum instantly appeared; and then, by the same
law, they were obliged to return into Committee again. This happened
so often that at length gentlemen of the Administration side became
irritated, remonstrated, demanded that members should be counted
in their seats, whether they had voted or no, and at length came
to insist that individuals, by name, be compelled to vote. Such
a motion having been made in one case, a voice cried o