Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-04-29
Rich.mOnd, Eriday, ApriI 20.
TIE SURpLUs RErrNilr

Report by Mr.. Woodbury.. in reply TO a re So
luton OF the Senate, which called for the amount of
the surplus in the Treasury, the Banks where de
pesitcd, the extent of their liabilities and their means
OF meeting them, was submitted 10 that body on
the 10Th inst The amount of money in the Treasury
the LIST inst is estimated 3 SIS 1855 TO- This Of
course exclusive of any deduction for the
appropriations which have already been inadeand much
more OF those heavy appropriations which involved
in tho seven hundred aud seventy bills pending be.
fore Congress, to which MIR. Wright of New York re-
ers-anj 10 the two items which he be knoicn
TO Ie tore e Senate Ia The large of about seven
millions mere What these two Items are, Of course,
not permitted 10 guess.
Mr.. Woodbury. further states, in his Report the
immediate la5ties Of all these banks that time To be
about S93 ,O69 96 and e immediate means IF au 10
discharge those liabilities, to be about S3S 0S3 0D9 SO;
such means being in the ratio of about and
half of those liabilities And further that their whole
Liabilities other than to their stockholders for capital
are about SlO3OS219 so, and their ichoc of ere.
ry Kind 10 discharge them about SlG 95G 2I0 20
or one OF means TO less than three iourths of those
liabilities r 1t may be properly added in come xon
with this exhibit that the securitg of he Treasuru in re-
aon TO the depostes in those banks depends not only
ON their large MEANS compared with their liabilities to
the Government and others, except their stockholders
bu on the collateral security which, in my last
annual rePort has been given the Treasury in most
capital of the bank
The Wings, ard of Congress are attempting to
raise ian'e ON tins subject Their object slatle
the public mind Is about the scenrify Of the dcposcs
ID the immense influence which they may aiye to the
Executive over the Banks aud through them over the
money and of the country We do not ..e ,lo
mischief which has yet been inflicted nor the Immediate
dangers which threaten Where has one cen of the
public money yet been lost? Or where has the Execu.
tive yet abused it's influence over the Deposcs? We
are prepared however, say that is the duty of eve
ry Tree people 10 hedge in the power of their Govern
ment by all the necessary restrictions and 10 guard
II against all abuse Hence conceive it to bc tho
hrst and most sacred duty OF Congress- 10 pasa
law to regulate the public deposiies in the most ef
iectua nanner---to lie up the hands of the Execu.
tive, as well of the DeposiIc Banks themselves
by the strongest possible restrictions We all know thni
TINS duty has been twice urged by the President HIMSELF
In his
commended The present Congress ought not 10 adj.
journ without passing itand he ought 10 be considered
as treacerors steward 10 the people who docs not insist
upon ITS adoption To see, therefore, that the public
money safe and to guard against It's waste and abuse
is the FIRST duty which Congress TO the county.
he next question is ava Uhat ~ the Surplus
In The treasury To be empfOycdP il TO US that
Congress has power to distribute the surplus or even
that portion of il which consists of the of The
pubic lands among the several to sneak of
the various objections which may arise score of
expediency We object likewise to Mr. Grundy 5 rail-
road systemfor, seems only The vul.
gar saying u.s. TO arhip s DGvH round Tie stup-to car
ry on indirectly what Congress has right TO do di-
recty, in the way of Internal impro yement We oh.
lect therefore, both TO the Distribution scheme the
RAILROAD scheme-and concur with the able
Editor Of the Louisville Advertiser, that even if MIR
Giundy scheme were designed substitute Tor the
american System and the Land Bin Of Mr. CLAW we
for this reason could "hsartiiy approve a." There are
objections TO both; and cannot
The ono as substitute for the other. What then wo Id
we substitute
Our prcet would be this Substitute Deence for Dis
Reports OF the Secretaries of Par and the Narg in re-
ply to MIR. Benon's call, will show how many millions
can be advanageously expended the Defence of tho
country-ils Navy Army Fortfcations Munitions and
materials of all sorts BE this first consideration
But, we are told, that after making all proper pro-
visions for permanent system of naval and military de-
fence Nc, shall still have consider able residu1m To
dispose or some say supply of from 10 TO 20 mil
LIST Why, if the French Government should pledge
itself TO the execution Of the treaty and pay up The in
stalments now due, may we not anticipate on proper
terms the nsalments perhaps about 3millons hereafter
due! We have occasionally anticipated the redemption
oil our own stocks. Why may we not pay up The ac-
ciung instruments ct The French debland To this ex
tent relieve the Overlooking udder Of our Treasury for
the oenehi OF cur special Claimants, OF the comu
nifty at large?
Cd We have not seen Mr. Wrabt's Speech-ond ,,e
of course, at loss TO understand his estimate of lie
pending appfopriaons-inuch less, of his two myseri.
Gus items OF seven millions before the Senate But we
presume these various sums will the Treasury smart
ly enough
But in the Sd place, after the deductions which should
be made suppose still large Surplus elt-then we
respectfully but firmly propose reduction of the
Duties This compromise about the Tariff has no
such terrors for us We protested against H. at the
time, 1t it were calculated designed to bar The Co
yernmen from any further attempt to relieve the
People from an Odicps fariff-We were no pares
to any such operation Of a scheme which WINS con
cocted between Messrs. Calhoun and Cloy-to relieve
the one from the dangers of his Modification and TO
assist the other in making his apology the protegcs of
ms larH system. We deem it clear and essential
principle OF free governments, that all the money which
has been raised upon the People should be well In
Ken care Oh dndtiat mol cent should be taken
from teir pockets than the wants Of The government in
dispensaby require. We go upon This rule and there.
fore we hold st that The Depose money i'm the Banks
should be carefully aud strictly regulated by lavnnd
2dy that 1t The present Tariff is higher than necessity re-
CURES, Vt should be reducedFirst expnnpng or dni-
nIshing the duties upon such articles as least interfere
with The spirit Of the Tariff compromise $50 far we are
willing to go but these articles do not 10 the
necessary rate OF reduction then reduce upon the
others. Let the reduction begin operate as soon as
possibeand ii less should be rased in the xt twelve
months than is wanting take portion OF the surplus
out OF The Treasury, TO supply the deficiency; and
so on why may not the Secretary of the TreosI-
ry be called upon TO report, what is likely TO be rails
cd on the present duties and the public andsihen
what articles will best admit Of the cductionand yno
Crying what such and such articles will raise at such
ana such rates la this manner without exercisiu0
powers which not intended TO be conferred by tl,e
Experimentation turning tho Government into
broker or stock jobbcT without keeping the Treasury
so iu, that IL may be calculated to enlarge the movers
OF The Executiyeor tempting Congress 10 engage in
VIVA and improper scbemes--we reduce the pethora of
the Treasury, by taking for bubble defences
&C. and putting less IN, by lowering tariff until in (e
course OF two years we adjust TO our e1genses
40 away all mschles, dangers, pancs-take ont Of
the peoples pockets not more than Is WANTING fer
the necessary and legitimate of the Government
and put an end to that phenomenon which is so
uenteu ~ the history Of modern tmes-of nation not
only free from debt but possessed Of more money iha
1t knows hat to do with.
wednesdays Globe rsfs Report Of the sce,s
made the 1si which states that tbs v,-o ~ ;a
over four doIlefs ono, abios of an
eSp TO their 'oekholdsr about and half dollars onsS
Gen. H9RRfSOW
IL Is almost time for the enemy TO unniask their Las.
~ The elections IN Virginia now 0ver-Amea
gave the last vote pscfd0Y and now ye rnev ooL out
mo Fn Isaftu 81. &C. it,