The enquirer. [volume] (Richmond, Va.) 1804-1815, 1813-01-30

the certificates of stock by virtue of the
power given'him BY the preceding section.
together with a statement of the rate at
which the same may have been sold''
A desu!tory discussion took place on this
motion in the course OF which it was said.
In support OF the motion, by the mover and
by Mr.. Randolhh and Mr. Golds5orough,
that when so great latitude of power was
given to the Executive, 1t was proper that
an early, due and regular account should
be rendered of it to Congress; that there
could be no objection to it at any day. no
matter how early, because if there should
prove TO be difficulty, under the provisi-
ons ct this bal, in procuring the Ways and
Means on reasonable terms, they might be
otherwise provided for by Congress, and
thus great pubic benefit would ensue-
Much stress was laid on the necessity of
accc untability in cur public officers, &c.
On the other hand, lfr. Cheves express
ed his acquicscence in the principles of the
amendment. it SO modified as to render it OF
practicable use. He commended that. as the
next session Of Congress might occur
III the course OF the SKINNER, if the propo-
sed amendment were adopted, the govern
ment would be bound to render an account
OF the operations under that act before they
were completed, and in such stage of the
business as might be injurious to the coun-
try, as having the effect to prevent the go-
vernment from obtaining loans at as low
rate as they otherwise would. 1t was said
besides, by Mr.. Cheves and Mr. Wright.
whilst they acknowledged the necessity of
proper accountability, that it was pre-
posterous to require of the government an
account OF the execution of law, before
the time limited tor its execution, which i'm
this case was one year. The amendment
was said to be altogether unnecessary,
however, because it was always in the pow
err OF the House, by specific call for it,
to obtain any information on the subject OF
financial operations that they thought pro-
per.
In the course of this discussion, Mr.. .Stozv,
who concurred with the mover of the new
section, in wishing a proper and reasena-
bic accountability, as he said, but no other
moved to amend the bill by striking out the
words in ltalic, and inserting in lieu thereof,
the words " on or before ire 1St day of Fe-
bruary, 1914" or words to that effect.
The question on this motion of Mr.. .Stozp,
was decided in the affirmative by Yeas and
Nays:
For the molten IS
Against 1t 81
The question then required on the origin
al amendment proposed by Mr.. Pitki,, as
amended. and was decided in the affirma-
For the amendment 100
Against it 8
Mr.. Sheby moved to amend the bill b.
adding to the end of the Cd section the fol-
lowing clause: Provided, That no part
OF said stock shall be sold at more than ten
per cent. under par.''
Mr.. Shefy spoke in support of his propo-
sition. He objected very strongly to the
unlimited power TO sell stock, and stated
several calculations, by which he contend
ed that it was proved more inexpedient to
sell the stock under par than to pay pro-
portionably greater interest.
To these remarks, Mr.. Cheues and Mr.
Af'Kini very fully replied, and opposed the
amendment as not productive of any posi-
BILE benefit, and implying a distfust either
of the nation, or of the persons to whom
was coniided the duty of negotiating the
loan.
The motion was eventually negatived, by
Yeas and Nays.
For the III otion 81
Against it 72
5fr. RandoLhh moved to strike ont the
words lone quarter" OF the one per cent.
proposed to be allowed to persons receiving
subscriptions, &c making sales of the stock
with a view to inserting smaller per cent
age.
Considerable discussion took place on this
motion. Mr.. RandoLhh supporting and Mr..
CheUes and Mr.. Rib6 opposing it. Mr.. r.
inveighed against it as extending the pa
tronage Of the Treasury, and making a
wasteful expenditure of public money for a
service which might well be done for less.
Mr.. CheUes and Mr.. Bib quoted the law
passed in 1901 or 3, respecting a sinking
fund, reported by Mr.. RandoLhh hanself,
as Chairman of the Financial Committee,
which made just the same allowance; but
Mr.. Randolph contended that the cases
were in no wise parallel. because the for
mer applied to transactions in Europe res
pcctng the old debt of the United States,
&c. in which a greater risk was incurred.
The motion was at length negatiyed by q
large majority; ard
The bill was ordered to be engrossed for
a third reading.
The House took up the amendment of
the Senate to the bill for raising an additi-
onal military force for one year.
The amendment requires the concur
renee of the Senate in all appointments
which shall be made under it, during the
time that body shall be in session
Mr.. UiIanS having stated the entire
concurrence of the Military Committee in
this amendment, it was adopted without
di'i-inn.
Tueadly, January 90.
Mr.. .fTchrr reported bill authorizing
the Secretary OF the Treasury to subscribe
for CERTAIN shares in the Chesapeake and
Delaware Canal Company in behalf IF tho
u. States which wa twice cad and COM
initted.