Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-06-28
Tyeasty-foureIl CosagFcss--lst sess.
HOUSE OF REPRESENTATIVES,.
EyEsiSG SESSION. Tuesday, Juae q, 1870.
- 1.IfE nFp0SLTE BILL.

! N---~'
Sppight and Wise, sok part,
| Mr. jarvis moved 10 amend the amend ment by IN
sorting after the words United States ie "oEd I'm
appropriately; which amendment vas disagreed 10 WIFI
| ont division. 80 ~. :.
Mr. Anthony. at the suggestion Of MFR. Briggs modi-
fed his amendment by striking out the words " COM
mon Repositories OF the Governments: and Inserting
:o pledge the faith Of the State oF the is keeping
thereof. =,
After Z few; words By Mcssrs Wise and Love; Mr.
Anthony substitute for the thirteenth seconas amend
cd, was agreed to-ycas l23; nays 50.
MIR. Adams moved 10 stri!s, oat che fcnw:ng words
in the eighth section no Sank which shall he 2eret.
ed or enrnycd us the place of depasc Of the public
new shall be discontinued such depository the pub
iic money Withdrawn hereom, except for the causes
he rcinaier mentioned, that is 10 say; which motion
was disagreed 10.
Mir Mann Of New York moved 10 strike ont OF the
substitute adopted Tor the }lh Src,:cn the words The
Senate and" so ~ make tic substitute read IN pro-
portion their representation III the House OF Repre-
scntaLlrcS. . .
After some conversation te:-es: Messfs Mann, Aler-
GER, Miller Pcarcc Of R. t. and the Chair 10 whether
the amendment was in order.
Mr.. Mann Withdrew i.
Mir. Ripley moved several additional sections TO TIE
BILL providing that public lands should be sold, except
10 actual settlers, foE The term Of isc years
The Chair decided the mrndEcnt 10 be out nt order
Mr. Ripley appealed from the decision OF the Char
After some remarks the appca! by Alcssrs "Tiey
and Briggs the question taken, aud the decision OF
| the Chair affirmed.
Sir Williams of North Carolina moved tic following
additional pruviso:
sIaG pr0rid,& trtier That if any State shall! issue
Slate stock bearing interest CT e"e per cent pes AZ
num- the same shall br received by ie Secretary OF Inc
Treasury in lieu OF the rateabe AMOUNT OF money due
from such STATE; and wheu such stock IS assigned BY the
Secretary Of the Treasury, it sal! bear anIaIees oih"e
per cent. and not sooner: Lost.
Mr. Renchrr then offered the following as an atd-
tiona! srctinn:
ind be i! further enacted, That if the stock held by
-, bsi,rp
first Of January NEXT the money arising from the sad
stock when sod shall b. deposited according to :e pro-
visions this bill: wit one!ouFh part upon the sale
o said stock, fourth part 10 three months thereafter,
ocf0urh part six months thereafter, and tas balance IL
the end nt nine months lost
After few words by Alcssrs. Rcnchcr and lclsay,
the amendment was nega,iacL-yels rs, nays Sc
Mr.. Doubleday rose and said
Mr. Chairman | wish 10 otrr I very few remarks on
that part Of tn. bill which provides Tor deFsnS lie
surplus moneys Ike Treasury with the several States
OF the Union This is the llIst opportunity haze bau
of addressing the House during the present session ana
differing 90 from many ol ly coilehsUes ."'l Inc
more anxious 10 explain my views 10 The Committee ana
Ia my constituents. ,..-
am fully aware Nix. Chairman. Of tie responsibility
incur by The vote am about give this qseSiioH
Never has subject before more important or
more embarrassing, than this OF oisPosng OF the sur
plus revenues. Whilst the safeguards OF private liberty
remain nearly ali Tie good il! Tie people can expect
cncc from our pgsla,icn will BIZ by The imposition OF
burthens and the dspysitinH Of HE public moneys.
! an not accountahethe friends with whom acted, Tie
friends OF the Administrators. are not aceuuntaHle-oT
| the rrcat amount accumulated beyond the legitimate
sans Of the Government. / held seat on tins t'o!
| in lc::S when the iav. question was busted voted
with the friends If the Administrations reduce the d
tees prcspectircly but rapidly I'LL the revenue sh9u!t
be broug ht down the expenditures "f tie country
We were oTrrruied by the ultra friends, and the u!!r
opponents OF the protective system, who, BY acting to
pcttcr could control at least b7anc OF Congress-
TO preserve The Union, we compelled 10 assent tt
or
ing claimed as cu!prohlse, p7c"enS our adapting ou
| legislation TO existing circumstances.
Il must be cute evident thai viii 3c adept
ed by this Congress- materially diminish the amount
OF money already The Treasury: and unless our aPpfo
ura,ions are extravaganza there will probably be some &C
foundations TILL the year Is40. lhe question a''ses
wha, shall We do with this money: confess san see
no plan wholly free from Obi ccuons. II we determine
to leave il in the depuse banks Tor three tons years
they Will feel authorized 10 use II Us so acn caqai ard
its safety will depend the honesty OF bank managers
and the prudence and OF their business opera
lions Being men, in these money making times, some
NJ Them may be tempted to use it for their individual
advantage; and stalcsnen nov. pure, may IN time
be drawn in 10 share the profits. The public money will
then be subject to ali the contingencies OF private specu
Iavn and what is worse, will be MEANS Ui corruption
more potent than any that has heretofore existed in i
country. ,
TO avoid such results would certainly vote for the
most exlravagant expenditures II 30 better pan cou!h
be suruescd But ought we thus 10 waste liz none
earned and paid By the industrious classes: tnnk, Sr
we should hesau. before we make that our only alter
native 1t issaid, if this measure be adopted the peo
pie through their representatives, Will Hereafter e'nst
the apprrpr aLi0as necessary tor national Objects !!
nav he So sir; but. the otCE land, confident am
# it be not adopted sal! raFIdiy run mo system
OF the most vasIciul extraqagance.
hare examined this b'!! with tie more atsst'on, be
CAUSE have tug misfortune 10 differ from many OF m
poI,ical friends, in whose Judgment and patriotism
have great confidence. hope they, also, will reflect s
discriminate They must perceive that the bill, as amend
ed provides only III form, but III fact, not tor c:s
rihution but simply FOR depnsite oil tie public moneys
II il ever results ~ rratuous Distribution Il vii! not h
he any aclios Of ours. It only happea in case
snail be so deceeG BY the people, through teit 1e2re
sen,avcs rreailcr To- be chosen |" suppose Inc PEG
M are not 50 trusted they may decide wrong
Is 10 DENY their capacity for self government.
AS respects tie constitutional question Involved III III!
bill is no, necessary Coz Inc TO say much ihal IL
as constitutional 10 dcyosite our surplus iunds WIZ lh
States as with temperatures created by the SAls aalit
moi Of doubt or ca7ll Nor doubt that The STAT
governments will vest the money entrusted 10 their car
as safely ard advan;agcouay Tor the people, as eiie
this government or the moneyed corporations anu ee
tan!y ii any profit is TO be derived from temporary Us
OF IT, when not wanted for nanla! prT poses, 1t mig
well accrue the States as TO or
, There is one ground on which would apPea! 20 ID
friends of The Administration. We have discontinue
the United States Bank Is dangerous INSULATION, al
dclrrmpcd TO use the State banks tor collecting Trans
ferrinc and disbnrsng the public revenues lhls Is pc
cuiarIy Administration measure anu o.'t "t'.i Ia
NV b.o-,v concurenas Now il mast be pam that lca'
in, uonrv Tor three four years III The BANKS VIII er
DANGER its safe keeping SOnss OF the banh manager
nav make large profits by using the public moneys
others may experience heavy losses causing bank TAI
urps' If few of the deposi'e banks fail, the peop
m Iosr confidence in the PFeSent system and 80 thos
TO whom il its adoption u small amount onl
be left in the banks will be frequently called for
the uublc they will loan it only TOR scrt periods
losses will probably not occur if they do the
0 | will be com paratiyely trlfling.
These are few of my reasons for supporting this bill
should like to say much mere. but DO feel justife
,orr.r the lime of the committee at III