The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-12-22

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nate on Thursday last, Mr. Wright replied at length
Mr.. Webstsr's rejoinder.
Mr. WEBSTER said he should detan the Senate
but short time in TO some Of the honorable
members remarks he had really not met the argu-
ment of Mr.. w. yesterday. To begin with the sub
iect of Indian treaties. The honorable member had
said that the fund arising from the sale of the Chick
asaw lands had all been invested to within some forty
or fifty thousand dollars. Mr.. w. had founded what
he had said in relation this fund the returns fur
nshed TO the Senate and according TO that document
the balance uninvested amounted TO T5bO,OOOi but
had added that he had heard that $4,000 had been
invested since the date of the returns. Mr.. w. had
made no complaint OF the mode In which this und had
been invested SO far had been invested and, if
the whole of Rad been invested much the better
But in regard the two and half millions OF the fund
belonnpg 10 the Winnebagoes and other tribes and
which, according to the treaty, was TO be invested for
the benefit of those tribes, Mr. w. asked OF the Sc
nate whether Mr.. Wright had fairly met the force OF
the argument he had advanced, f il had any force to
be mel ~ Mr.. w had not complained OF the treaty,
nor had he charged the Administration with any
ravagance or Of providence in entering into it
that the point the point was, that tins amount
constituted debt for the payment of which was IN
cumbent on the Government 10 provides and that as
such il ought be kept before the view OF Congress
The honorable member admitted that il was debt,
but contended that il was not To be reckoned IN as
portion Of the public national debt IT, by this the ho-
norable member meant say that this amount formed
no part of the debt arising from borrowed money, I'M
queslionably he right but still was national
debt the nation owed this money and II entered me-
cessarily as important item or element, INTO
statement of the financial condition OF the Govern
ment. The honorable member has asked II TINS Were
So why such a statement ought not, IN like manner,
10 include the Indian annuties They were inciu-
ded in effect Did the annual report from the De
the amount of those annuities as part
of the expenditures for which Congress was TO pro-
IL -. th..n Snt ia
member asked why the pensions were not to be incu
DEED The same answer might be made. The amount
of that expenditure also was annually land before CON
gress, and it provided for as other demands on
the Government MIR. w. had not complained OF
this amount of two and half mlonssof Indian debt
he himself had opposed these treaties all he had
conended for was, that, an amount to be provided
for, il much part Of the public debt as II
had consisted of borrowed money; 1t was a demand
which Congress was bound to meet. In any general
view therefore, of the liabilities of the Government
was there one element of these liabilities which could
with more truth and justice be inserted than this
MIR. w had said that he commended the argument
of the President in opposition to national debt ana
he should be quite unwilling to have it supposed that
any thing he said could be wrested Che did not charge
that it had been Intentionally wrested to favor the
idea of public debt at all But he must still insist
that the language employed by the President on the
Sth page of his Message did refer to past political con-
tests in this country and did hold out the idea that
from the beginning of the Government in the politi-
cal which had agtated the country there had
been some men or some parties who were IN favor OF
the creation and manufacture of public debt, as part
of their policy and this he (Mr. w had denied
The idea in the message not that there were GER
tain great interests in the country which always
from the of things in favor of such debt on
account of the advantages derlvabe from il to them
selves, the honorable member has argued to-day
IL the President had stated this it had now been
stated in the speech of the honorable member nobody
could have taken any exception to it, But that was
not the point The point of objection was, that the
Message charged this ondness for national debt up
one of the parties who had engaged In the
past political stres of the country and had repre-
scented it as a broad and general ground of distinction
between parties that one the advocate of ma
tional debt of itself good and the other the opPo
nent of the existence of debt This he regarded as
an mputation wholly unfounded; and it was on this
ground that he had objected that portion Of the Ex
ecutiye communication. No facts in our history war
ranted the allegation. II was mere assumption.
Mr.. w. proceeded to say that he had, when before
up, omitted one important item in stating the amount
of expenditures under the existing Administration
beyond the accruing revenue, which ought to be
brought to the public view. If he (Mr w , was IN
error, the honorable member wonld put him right In
March, 1886 law had passed postponing The pay
ment of certain revenue bonds in consequence of the
great fire at New York for three four and five years,
The great of these had fallen due, and had been
received into the Treasury since the present Admins
tration had come into power. The total amount was
about six millions Of dollars This being So then the
whole amount of expenditure, and above the ac-
cruiDg revenue would amount TO 81 millions, or there
abouts and would thus give an annual excess OF ex-
penditures receipts of eight and nag mttfions
year and he insisted, again, that looking at the
matter in purely financial vew-lookng at the COM
parave proportion of liabilities and of means to dis
charge them when the President found an excess of
the former continuing for four years, at the rate OF
eight and haD millions per dnnum, and did not par
tcularze any one branch of expenditure IN which
h.n
less far il might take place in the pension list by
the gradual dccease ofthe pensioners and when he pro-
posed no new measure means OF replenishlng the
exhausted Treasury the question for Congress and
for the nation to consider was, whether this was
course safe to be pursued in relation to fiscal con
Germs Was it wise, provldent, and satesmanhke
There point in which Mr.. w said) the
honorable member from New York had entirely mis-
appehended him He Mr.. Wnght) had said that
Mr. w appeared to desire to avoid critical and
delicate subject the question OF the tariff or rather,
had complained that this administration had not taken
it up. Now he (Mr. W. had not said word about
the tariff further than TO state that another great re-
ductiun Immediately approaching in the rate OF
duties, of which the Message took notice what
ever while it did fail to refer to two other reduc-
tons which had heretofore taken place. What he
Mr.. w J had said on the subject of imposing new
duties for revenue had reference solely to silks and
rcnes. This had been delicate point with him at
time. He had for a long period been always de
srous to lay such a duty silks and wines and it
did appear to him the strangest thing maglnable-the
srangest phase of the existing system of revenue
| that should import many millions of dollars
worth of silks and wines entirely free of duty, at the
| very time when the Government had been compelled
by temporary loans to keep itself in debt for
four years past So far from considering this mat
Of any dclicacy had the Senate the constitutional
power oforiginatng revenue bills, the very first thing
he should move in his place would be to lay tax
| both these articles of luxury.
Were Mr. w to draw an inference flom the speech
l,Nf 4 La, hat
seemed to be his own opinion, and certainly seemed
also to he that of the President, that would be wiser
to withdraw the whole part of the money deposit
ed with the States than to lay taxes silks and wines