Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-12-21

The Secretary Of the Treasury 10 cloe his Department
with the discretionary authority Of investing the suIPu
in State stocks; thus giving tie means OF subsalzn!
The States influencing sovereign communities US vel
as individuals, and bringing them IL the io"tscoi q
Executive power.
Gentlemen had their different schemes Of disbursin!
The surplus. The Senator from Missouri had vas
scheme of Notifications, which, if carried out, wcu!t
lead TO the most esoEbant expenditures Tie Senator
from South Carolina Mr.. Preslon said that had no
realized the expected benefit of the act Of 1886 in curb
ing the expenditures. But MIR r would appea! 90 .:i:I
TO say, if The expenditures had been such under the in
ducencn', TO restrain them supplied by the dePos'tt
act what would they have been IT, instead of restraint
The extraordinary stimulus to extravaganza administered
by large surplus at Tie disposal Of Congress had
| been allowed to act without control: Suppose the
scheme Of the Senator from Missouri [A!r Bent"nl had
been carried into effect, that other p:o ec oil lie
Senator from Tennessee, Mr. Grundy. TO invest the
surplus in purchasing, aiding TO construct, the cI!
roads IN the country facilities in the transportation
Of The mail, what would have been tie result if We
had gone into either Of these prof eCs According TO
the French adage, il the first step that cnsts and here
would have been end 10 This abyss Of Congressional
prodgai,y There had never been, under the peculiar
circumstances Of tie case, wiser more beneficial act
to the people Of the United States than the act Of 1885,
and Mr.. Il. would allow himself 10 do nothing which
could in any manner he construed into post fIcio
condemnation Of that act. There was pledge what
ever involved in the amendment Of the Senator from
Kentucky; Or il there was any thing OF that kind there
much Of il, If more, in the of the
session posponug this nstalment At the extra session
an act was passed postponng 10 the first OF January
1872 and there was no surplus anticipated at that nie
but, on the contrary, was expected that The Treasury
would show an alarming deficiency, so that Congress
told that 1t absolutely necessary TO issue reG
sury Eolcs There was much more reason now TO ex-
pect surplus than al that time, sinca further Issue OF
Treasury notes is not now recommended
hir. K. wouid give pledge in this case that they
would transfer tins ins;amen TO The States without
gard TO the condition OF the United States Trea.nry
The idea on wic We acted last year. and on which hr
still prepared TO ucL that this inslaien should
be transferred only the recurrence Of such state OF
things producing surPus) made The act Of leo APP
rear wise and necessary measure.
Mr. r. considered the disposition made Of The surplus
by the act OF 1886 az strictly dcposte. The power aud
the right remained in Congress 10 recall the money
whenever i, pleased, and tins without any violation Of
the public faith the Senator from South Carolina MIR.
Calhounl had suggested that in case Of foreign war
might be recalled, and Mr.. Il. had doubt tina; in
great emergency Of that kind the power 10 recall H. if
retained would be exercised. II might be eminen;iy
proper 10 recall il in such case, and yet proper
have done when The idea thrown out al the cx.
ira session By the ether Hon Senator from South Caro-.
lima, Dir. Prea,on, that we should these
resources, instead OF resotng 10 Treasury notes There
Curious reasons why it should not then be done,
when The States well as this Government were borme
down by common distress and disaster Congress ought
not 10 have destroyed the remaining energies Of the
country by pushing their claims to the extreme Of
legal demand But Mr.. r. was still for retaining the
power 10 call for these instruments, that il might be
VI
Of the public faith.
There another and high consideration. said NJ.
+, which made him prefer holding up this fourth install
ment oil the dePoSes as 10 be hereafter transferred 10
The States under the nct of 1885, il there should be 1T
auy time surplus in The Treasury. IL was now (and
he mourned over The dcstines of his country wheu lie
SAID il, unless some means could be found Of arcsimg
so fatal and downward tcndcncy)-il now mat.
ter OF much more Importance what The views and
policy OF the Executive Department than these Of the
Legislative, even of Tie People themselves The
effect 4" holding up this fou nsianenl 10 he here.
alter Deposited with the States whenever there shall be
surplus, will be- TO give The Executive Department. in
whatsoever hands it may be, interest with
the Legislature and the people in keeping down The
venue to the legitimate and economical wants olha Co.
vernment 1t have luercs, in creating surplus
when il knows beforehand that that surplus will 20 into
the Treasures Of the States for safe Keeping instead CT
being made the subject OF national expenditure, and in
sfunenal, Of course III charging the influence OF the
Department which prcstes over liz application and dis
buTsemcnt We have, accordingly, already seen the
good effect OF this policy in The language Of The Sece.
tay Of The Treasury, who in his annual report, reads us
lecture tie duty Of Congress 10 practise economy
and lessen the hu'!.ns Of the People. Now SIR with.
out nquTng which Of the Departments Of the Govern.
Inent may have been most in fault for past departures
from this wholesome Republican policy |, for one Us
doubt not the cter members Of both branches Of Con.
gress are, am wiling TO profit by Ibis lecture. hail il
s favorable well unusual men: and If We sill
continue 10 hold up the last iusaIurnt OF The dcpu-
sites 10 be hereafter transferred to the Stale Treas
ries for safe keeping, whenever there shall be a surplus
sha adopt tie most e!rcnal means of taking way
all interest from the Executive TO create surplus so
supply them with the strongest motives 10 keep dawn
the 10 the necessary wants of the Government,
and 10 practise well recommend economy. For
these reasons said Mr. R. am for adinunrg the fourth
insiancnt Of the derOstes 10 specific period 10 be
Transferred then only there shall be surplus and pre-.
serving 10 it strictly the character of dcpCyitc by
tanning in the huEds Ct Congress the power Of recalling
it when it shall be demanded by any grea, na.iong! ext
gercy.
MI Brown DID rot rise to discuss The question: already
amply debated whether the payment OF the fourth
instrument To The States, under tie depose act Of 1886.
should be postponed, proposed by the bill reported by
the chairman OF The Committee on Finance, whether
he amendment offered 10 it should be adopted. One
other questions of great Importance, connected with
our financial a:airs had been touched on, and it
his purpose Ia say few words in reference 20 them.
He wcuId take leave 10 correct very gross
which had been fallen into by three gentlemen
in tie Of Tie debate, which the advocacy CT
the principle ni distribution among the several States
had been attributed to President Jackson in Of his
carly ages 10 Congress- So far from having
toned IT, he had expressly questioned the constitutional
power OF the Government 10 rase money for any such
object lie recommended it under two contingencies
first, if there should happen 10 be unavoidable accu-
mutation Of surplus money in the Treasury, OF
the means of getting rid Of il secondly if amend
ment In tho Constitution should be FIRST procured
thnl2'ng II. For was recommended subject 10
these two contingencies alone, without. at that time,
there should be failure the part OF Congress TO bring
down the revenue to proper standard Of expenditure,
which was strongly enjoned by him in several Of his
annual messages and as he should presently show,
made unc Of The leading Of the Adminis,ra.
ton.
The Senator from Kentucky INF Clay1 had in The
course OF his remarks, p,id tribute the economy.
alleged 10 have been practIscd in The administration of
MIR Adams, and which he endeavors 10 contrast the
disadvantages Of his successors II would be rccorced
that the tariff act Of lcS cf the most outrageous
acts Of oppression practsed free people, and
which cxoTcd from the pockets Of the people the means
Of extravaganza and consequently created uncontro-
0! The fruits OF that most just and economical admins
uaton II will be recollected also that the magnificent
and unconstitutional schemes for using these ay,
and which, 10 have effected them, would have required