Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1838-06-23

sASA. HI sOCu buIoSiucu 0OI 50 ttsV INC
rotary Of the Treasury. that Il; VIC would gran,
the power To issIo millions Of reers.ry notes
nc woaIJ not call upon US again; and, sir, i,
would give surprise II, before the end ol
this session, c,!!e upon for ten million
more. Tho Secretary Of ttsc Treasury gave Us
directly to understand, 1T the extra session, tina,
the rcsourccs and revenues of the Governc,en,
would be ample 10 meet ALL tn. claims o: the pull,
lie creditors.
itturns ont MT To be s,;np is it the fist time
the Secretary has himself been deceived. and
deceive CT u, as ] WI! show vf,Ir hereafter
And Now, SIR, what Is tn: t.ci! Tho President
scnIs a special ;..iyc; states that he must
have money forthwith. > 'nc of his faithful Of
tics-holicss arc IN nccs:. m doubt. and he seems
10 complain that the 'princpat difficulty. that has
brOight this 'seriO1f ns,srr.sssmcnf,' arises
from q prohibition in tie present Ii,c to reissue
such IIeasury nosesIs might be paid in before they
tuud Sir, that Proh'bitnry clause ! h I'd the
honor OF infroIiciny; q has produced the very
effect that ] dcsignej it sh ,,lsi produce. Of
tered il bccausnn was c'c ir, from tho report Of
the Secretary of the Treasury, That he designed
issue Treasury notes, wIthois interest, To make
them a currency, aud because ] then believed,
and arm now cOniirn,cd in opinion, that il was the
deliberate intention uf this admin: stritOn to Gre
ate u Treasury bank, % be man ,gcd and control
iod by tho President anil hi. fricnIl. Tho repre-
scntatises Of the people approved Of that pro-
=
his Secretary has a right to complain. BIT for
that prov isiOn, tho pc ''!s would MT have known
what was the truc conditions of the Treasury
These notes could have been issued and rcissucd,
and rcss,cd again AMI again, Indefinitely. at
tho will aud pleasure Of the Secretary; and, sir,
with standing capital of ten millions, AMI am
pIo power to Kite from one snh-trcasirer to an
other, who could ieli when the day OIL rcconing
would come, the extent Of tho debts created,
and tho amount Of mmcy wasted and cxPend-
cd.
The bill, as reported at tho cxtr, session, was
designed TO bo connected with another favorite
measure Of this administration, the subtroasury
to DO dovetaiicd upon it's is evident from
the fact that these notes were proposed TO be is
suod by the Secretary without interest, and in
sums small as twenty dollars. This bill, sir,
contains express prohibition against the
issue Of these noics: all the power you desire is
embodied in this small bill; and It you can hlst-
en- IL through tonight, and dare vote down all a
me -,dments, or gag with a previous question,
in tho House, las have doubt You willy or
force Us to leave this hall by your continuous
night session, then, sir. Won will hnvo accom-
piishod oil you want. Bat, as told you before
by tho blessing Of GOD, ! will watch cvery
footstcp, and DO with you at the life death Of
this measure, como when 1t may.
Tho Secretary Of the Treasury informed us in
his report o! December last ,"fhas appears
probable that during the sezs gear means riH be
possessed, rifhoss any permanent loans, recall
Of fomcr dcpos;tcs, increase Of tares, szf-:e..s
to redeem scasona5iy the Treasury notes E:af be-
come payable, as ccH as to meet oil ordinary APP
PrOpriasions"
How admirably has this Secretary predicted!
In less than six short months thereafter it not
only "appcars probaLle but is absolutely certain,
that this Gov eminent. with her ten millions oil
Treasury notes, Is not only out Of money, hut &C
suaiiy ont Of notes and We informed by tho
President that some ~NsMsf be sclected that
eon be wade Efficient IN it, operation az a rcry
iy day, or aci1 BE- imPracticabic to l~cscruc the
national faith ssLroken."
Mr.. Chairman, thcro is a strange discrepancy
in the statements VI the Secretary Of the Trcasu-
nv and tho chairman Of the committee Of Ways
and Means, that, to my mind, is wholly unnteigi-
bic. The chairman Of the committee states that
the sum expected to be realized from banks, mer
chants bonds, executed Ivy tho Bank Of the Uni
tex States, ON account Of the Government stock in
that institution, falling duo in October, is ten mil
lions Of dollars. Now, sir, what says the Score
tary in this report, made in obedience to the
dor Of this House on the 26th Of March last! He
states tho actual amount in the dcPOsitc banks 10
be IS ,6O0.OOOl E,ur millions SIX hundred and
nine thousand dollars. Here are the names Of
the hanks. and the amount in h; but will not
trouble the committee with reading them Off
No states in his report Of December last, that the
bonds payable Nv the United States Bank in Sop
tcmhcr, 1888, is two millions two hundred and
ninety thrcC thousand one hundred and twenty.
ono dollars. BIT, under the provision Of the law
Of the extra session, only oncthird Of tho amount
in the depositc banks can be collected, or is cx-
pcctcd to be paid; and that sum will he one mil
lion five hundred and thirty-six thousand dollars.
The entire amount, therefore, which the Secrcta-
nv can expect 10 command from these is
sevcn millions eight hundred and twcn,y-nnc
tho,sa nd orc hun,lrcd and twcnt dollar and
not ten millions, tho honorable chairman has
80 boldly stated. Nor is this the only bundcr
in the long catalogue, which can be detected in
the reports Of the Secretary, and the statements
Of tho chairman Of the committee Of Ways and
Means.
The President. not knowing much about the Fl
nanccs, Uor l suppose he has had other things o.
late to disturb hius,) but relying upon the Score
tary for Information, says. in his communi
cation Of the 10Th inst, that he ''suhmits a state
rncnt, prepared by the Secretary. by which it ap
pears that the United States, with over twenty
eight millions in dcp,si,c with the States, and
over fifteen millions due from individuals anc
banks arc, from the situation in which those fund:
arc placed. in immediate danger Of being rem
dcrcd unable Z" discharge with good faith ane
prosrptitude the various pccuniary obligations o
the government"
Yes, Mr.. Chairman, tho amount Of the estate
mcn,," prepared by the Secretary. is nothing
more nor less than a general sweeping estate