The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-06-09

TALLMADGE III 'ne aeoa'e On sne Atsas1'y 80
bill.
Mr.. T.llmsdge said he rose merely % say few
cords IN relation the deposte act Of 1885, alluded
70 by he senator from Missouri lie recoieeled per
fcy well that the Senator the time Of the passage
or that BILL talked much about the recapiure OF the
unexpended balances; and MIR Isllmaage wonlu DO
him The Justice say that be used The word as often
then as he had now, and 10 about the same purpose.
He objected then that the bill did not except from the
ra,eabe depose with The State the unexpended balances
as they are termed, Of The appropriations made by Con-
oress but .recapiured" them aud brought them back
5or distribution after they had been appropriated Mr.
r. thought then, he did now, that the reedPnre OF
the Senator used rs mere catch.Phrase, OF as
sarcasm in the place Of an argument Andh he pointed
out at that time, the ialacy OF a. What was ~
Congress appIopates money for speclhc objects for
the current year portion CT that money. generally
about bali according to the estimate OF his colleague
on that OCCASION remains unexpended al the end OF the
Whenever this money Is wanted TO meet appro-
prations the inquiry is whether the Secretary OF the
Treasury has AT command 1t not material whether
be in the Treasury, from past receipts before the APP
preparations made; or whether u was received
afterwards. The only question is, has the Secretary Of
the Treasury the means to meet them This IS the
every day practice. Appropriations often made with
out reference the the Treasury at the time,
but in reference subsequent receipts, sufficient TO
them before the money wanted Tor disbursement
But the "rsedpe" Of the Senator from Missouri would
seem to imply that the very moment that an sppropra
object and an mark pu, uponthe coin to ideniiiy H.
as farmer would put on his sheep to distinguish
il from its neighbors. There is no such thing There
specific set apart for specific appropriations.
And II the nnexpended balances Of that year had not
been subjected the deposite and the approprIa
tons had been made to the amount Of S55,0OOO0o
according statement submitted by my colleague at
that time they would have amounted 10 $50 600
But, fortunately for tho country, the appropriations,
although large. feI far shor, Of that sum There
objection therefore, TO the recapiure" Of these
expended balances. when the very bill provided sum
Of $1,000 600, 10 be retained to contingencies
But this not all, The depose act. rs il passed
the Senate, and to which the Senator objected, made
still ample provision for every possible contin-
gency and for every emergency of the Treasury and,
although the unexpended balances reeaptured"
by it, still they, with the whole surplus revenue, what
everit might be- put by the provisions Of that BILL
completely within the control Of the Government for all
appropriations which should he made without any far
Their legislation the part OF Congress the States
Why them talk Of recapture" OF the uBexpended ba-
lances when not only those balances but all the
of the country as far required meet appropriations
were under the perfect contro! Of the Secretary OF
the Treasury, the fiscal officer of the Government
What those provisions They thcse--and
they suggested by the presidents Of Of the de-
posite banks in New York, and were, they showed
their face, the sugge stons OF practical business
Mr. T. said he received them. from them, and he Of
tered them amendment 10 the bill whilst II
pending in the Senate That amendment required that
the surplus should be deposited with the States the
ratio of representation; that the States should give
certificates OF deposite IN the nature Of stock,
deemabe at their pleasure that thuse certificates should
be rateaby sold by the Secretary Of The Treasury when
ever he wanted money to meet the appropriations made
by Congress, and the hands of the purchaser should
bear an interest OF five per cent This amendment
adopted with great unanlmty in the Senate; but this
provision was stricken out IN the House, and another
substituted, ty which the States to be directly
drawn on, by instruments, for the principal How was
this done, and why was il done Why, simply because
President Jackson, although he had in three several
messages, recommended absolute distribution Of the
surplus, had made up his mind for reasons best known
TO HIMSELF that no disposition OF the surplus ought
be made, and had accordingly ordered his faithful fol-
lowers to oppose 1t. They looked rebellion which
so incepsed him that he declared, in the emphatic
manner, he would veto the bill if il should pass The
Executive veto was shaken heads in ady vance
Of and TO influence, legislative action 1t failed to
produce the desired effect We neither TO be IN
Inundated nor driven that occasion. The bill passed
the Senate with only six dissenting yotes-he glorious
minority Of six the Senator from Missouri calls it,
He welcome to all the glory TO be derived from his OPP
position to that bill, and to his full share Of the honor Of
the amendment which was made to it in the House.
and which has produced all the difficulty much
planned Of from the inability Of the Government TO
mand its means. Finding that the bill was likely to
pass the House by strong vote passed the Sc
nate and that the would be Of avail, the Pes
dent determined. as mere savo to his conscience, 10
have amended to enable him TO sign it, notwth
standing his previous denunciaons Oft. Let it be
collected, too that at the time he threatened with his
veto, the amendment spoken OF had not been adopted
in the Senate, but his threat against the whole
BILL so far the deposite Of the surplus concerned
The amendment in the. House, therefore, did in
sense obviate any objections upon which his threatened
veto was founded at the time held up terrorem
over our heads But something must be done In this
instance, the veto power had lost its potency lie
cordingly directed his Attorney General to draw up
amendment, as it is said and which it is understood he
did, under the Presidents supervision, and which
member offered at his request, and which the House
adopted. This is the history Of the matter il
understood at the time, and, Mr.. I. sa d. not contra
diced SINCE to his knowledge.
What the effect of this measure thus prompted
by personal instead Of public considerations The cf
feet to place S39 900 Of the surplus
venue beyond the reach Of the Government except in
small instruments, and even then to draw directly for
the principal, thereby distributing all the investments
and consequent arrangements OF the States which had
thus been made the repositories
Was it supposed that the States take this mo-
ney merely for the sake of safe custody the General
Government Were they TO keep it without compen-
sation, and without any OF II during the time
manned with them No ever dreamed Of such
preEosterous proposition. What, then, they to
do with it It was expected they would invest it,
some in their school funds, others in their in
terna improvements Under the provision Of the bill
1t passed the Senate, and which President Jackson
caused 10 be stricken out in the House, it woad have
been perfectly convenient and advantageous TO all par.
ties to the General Government, because it could at
any time command funds by sale of the certificates
OF depose 70 the States, because they could have i'll
vested the fund in any way they deemed proper enjoy
edi without interest TIL the wants of the Government
required it, and then would only have been obliged to
provide for the five per cent interest such portion
should be sold IN the market and pay the principal
their pleasure and the state of their finances should
hayp bpan lar husi-