When was it published?

December 17, 1814 in Norfolk Gazette And Publick Ledger

Domestic News December 17, 1814

Norfolk Gazette And Publick Ledger

Q: What keywords are associated?

National Bank Bill, Senate Passage, Presidential Veto, Public Credit

Norfolk, Virginia

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What is this article about?

The National Bank Bill, capitalized at 40 million, passed the U.S. Senate with 17 ayes and 14 nays. The text discusses the President's prior constitutional opposition to a similar bank act and the bill's uncertain fate due to potential veto, requiring two-thirds Senate approval to override. It expresses hope for passage to restore public credit.

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Full Text

The National Bank Bill has passed the Senate; capital 40 millions--Ayes 17, Nays 14. The President, when a member of Congress, opposed the act incorporating the Bank of the U. States, upon constitutional ground. If the President retains his former opinion, the Bill cannot pass into a law, even if it passes the House of Representatives. If the President returns the Bill with objections, it cannot pass without two thirds of the Senate (where it originated) should be in favor of its passage, which cannot be the case unless some members change their minds. We hope the Bill will pass, as affording a chance of restoring public credit, which must be desirable to every one.

What sub-type of article is it?

Politics Economic

What keywords are associated?

National Bank Bill Senate Passage Presidential Veto Public Credit

What entities or persons were involved?

The President

Domestic News Details

Key Persons

The President

Outcome

passed senate 17-14; potential veto by president requiring two-thirds override

Event Details

The National Bank Bill with capital of 40 millions passed the Senate with 17 ayes and 14 nays. The President previously opposed a similar bank incorporation on constitutional grounds. If the President vetoes, it needs two-thirds Senate approval to pass, unlikely without changes in votes. Hoped to restore public credit.