The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1837-09-26

TINS course Will enable us to dispense atogethe
with any issue of Treasury notes
calhoun highly approved the suggestions of hi
colleague, so far related to the repeal of existing
appropriations, ard he would go for any such meas
ure, IT his colleague would propose it, with all hi
heart; and, in the mean time, would Law this bill
on the table
He denied utterly that the deposite bill was at al
OF the nature of contract, and refused to view il
in that light.
He made some further observations on the com
mencement of new public debt and revived the
famous. torty 0ate story, Of Mr.. McDufle, whereby
as he commended, the whole burden of the new
debt would fall on the South
Crattenden argued that it was useless and absurd
tor the government to withhold from the States q
iund unavailable to her. but which would be avail
able to the States. The States have the highest
guarantee for the reception of this money, that it is
possible for any body TO have, viz, the guarantee
OF Law; yes, a Law of the Land and upon this
guarantee they have acted; they have made con
! tracts, they have appropriated the money; and
snail Congress destroy all these engagements?
| But 1t Is said there is not money enough now in
the banks to pay this instalment. This is not so
There is now in the banks upwards Of taoelre mil
lions OF public money. The protested drafts drawn
upon this fund, and now in circulation, will never
be paid, except into the treasury satisfaction for
dules-an operation which does not diminish one
cent. the fund il the banks. There is then an am
pie fund wherewth TO pay this fourth ustalment-
iund not available TO the government for any other
purpose, though available for this for the states will
consent to receive the money in any shape in which
they can get it.
The President, in his message recommends to
the people economy and retrenchment. But if
economy Is good thing for the people, is il not
good thing too for the government? The Treasury
report charges Congress itself with extravaganza.
and complains that at The last session appropria
ted st1 millions more than asked for Well
then, let US retrench let US cut down these exrav-
agant appropriations. Retrench this extra sir mil
HOnS, OF which the Secretary complains, and the
government will have all it needs, for the ten mil
lons asked Tor, includes an extra four millions not
necessary for immediate USE
Crttenden continued to pursue this subject with
great eloquence and ability. He declared that ev-
cry one OF the measures proposed by the govern
nent were measures, not Of relief but Of oppres
sion; point which he handled with great effect.
Rro.oa, Of n. C., speaking In favor OF the
bill when the express mail closed.
In the HOUSE. Cambrelcag reported two of the
DIS heretofore reported in the Senate establish
ing system of sub-trcasures; the other providing
Tor settlement with the deposte banks. These,
with the bill reported yesterday, to postpone the
Custom House bonds, make fine of The Sepen treas
ury bills, offered by the administration, as a euro
for existing difficulties.
The House then went into the subject of rules
and orders.
The Bill TO repeal the Deposto Act passed the
Senate-ayes %, noes IL
The Bill to autholise the issue of Treasury notes
being taken up, Hright moved to fill the blank, in
the first section, with ten millions. He had suppos-
ed that three millions might answer; but from com
muncatlons from tho Treasury, he had been satisfied
that the sum before named would be required
clay, OF KY enqured how the fund, which had
Just been created for the by the passage
ofthe preceding BILL was TO be applied to use Did
the government intend employ il in such a shape
as II could now be obtained in did they intend,
first, to reduce it TO specie? Would they employ
the notes of the banks, wait till they could get
the gold
Wright stated that the bill for a settlement with
The deposite banks, provides that they should pay
The debt due the government in three instruments;
one in two, one in five, and one in eight months.
nu nj he md yuil No
Treasury notes would therefore be needed TO antic-
pate this fund
Gay.-The whole matter, then, amounts TO this
We have Just passed bill deprive the States of
Il fund, aud to take possession of it for ourselves
which fund we cannot put, and do not iEiend to put
to any use; and instead of the gold that was prom
is e us,1gold flowing up the Mississippi, as pen-
ufu as the copious current of that river,
about to issue, for the uSe Of the Gooernment, ten
millions of paper money
The HOUSE remained in session till u late hour,
discussing rules and orders, which they disposed OF
by adopting those of the last House, with some
amendments; among others, one 10 the following
effect:
"No spirituous liquors shall be altered for sale, or
exhibited in the capitol the public grounds ad-
jacent thereto" /
The Speaker said that he would take care that
this rule was reported to the Senate to be acted
by that body.
The bill from the Senate to postpone the fourth
insament of the deposites with the States was read
twice and referred TO the Committee of Ways and
Means.
Washington, Sept, 18th
In the Senate, to-day, Ri0es, in conformity he !
said, of bis intention expressed the other day. asked
leave to introduce bill Specifying the medium TO
be received hereafter by the Treasury in payment
Of Treasury dues
Several Te1as rcmons:rances were presented and
laid on the table.
The resolution tfoa the House, touching the sale
OF spurious liquors in the capitol and grounds adj
lacent, was taken up and adopted.
Edhoun then commenced his speech-on the con-
nectioa between Bank and State. He spoke for
about two hours He goes precisely for the old sys
tenn OF continental money, neither more nor less.
After he had concluded his speech, Calhoun with
drew his amendment, at the suggestion of Benton,
(who SAID he concurred fully in the principle OF it)
and said he would move it amendment TO the
divorce (or sub-troasury) bill The substance ofhe
measure as follows:
That after the LIST of January, 1885, three fourths
Of the government dues should be receivable in the
notes of specie paying banks; after January 1s,,
SGD hnLf said dues sLall be recnyahln nlinr