The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-12-29

Mr.. JOHNSON proposed TO amend as 10 instruct
the Committee the Public Lands report bill 10
have the proceeds Of the land sales divided among the
States in equitable ratio 10 be used by the States
for internal improvements, education, any other
purpose as they may deem wise and proper.
Mr. CHlNN moved TO lay the whole subject on
the table; but afterwards modified his motion to post
ponement I'LL "Wednesday week.
Mr.. Afford renewed the motion to lay on the
table; which was negatlyed Yeas So, nays III.
The question was then put on the motion to post
Pone, and carried
NAVY PENSION FUND.
Mr.. THOMAS, Of the Committee Of Naval AT
fairs wished TO suspend the rules of the House to
into Committee Of the Whole the state Of the
Union to take into consideration the following bill
relative to Naval Pensions
BE IL enacted by he Senate and House Of Repre-
senfatires Of The United States Of America in Con-
gress assembled: +" That the Of one hundred and
fifty one thousand three hundred and fifty two dol
lars and thirty nine cents be, and the ID hereby
appropriated to be paid out OF any money in the Trea-
sury not otherwise appropriated, for the payment Of
pensions and halfpay chargeable on the Navy Pen
sion Fund
Mr. THOMAS said very few words about this
bill would be sufficient TO satisfy this House that the
bill ought 10 be passed BY the act Of 1900 pensions
were granted to and marines in nine sec
tons of that law the modes Of paying those pensions
presented The faith Of the United States was
pledged in Of the exhaustion of that fund 10 APP
prolrate money Now, the Secretary Of the Treasu-
ny states that this fund has been exhausted, and APP
plies Congress fulfill the pledges Of government
made IN loo, BY the law of 1887 and other laws,
another class OF persons authorized to receive tins
pension. Widows and children OF persons dying IN
the service OF the country, and not only from the
date OF the law, but from the time OF the deaths OF
said officers, perhaps thirty years ago lie urged the
passage OF this bill, providing for the payment of
demands against the United States
Mr. ADAMS said il not his intention 10 OPP
pose this bill TO raise the question whether or not
the Secretary fthe Navy had misconsrued the act of
81 BY the act Of 81 the Government OF the United
States had been sadded with permanent national
debt We now called on for the payment OF
$50 600 not included in the statement made by the
Secretary OF the Treasury In letter of the SecIe-
ary to the President dated LIST December, before he
made his annual report, he recommended that there
should be no appropriations except such as were sug
gested in the statement.
He { MIR A } said that there was fund of l2OO0-
900 he asked what had become Of that fund
where it had gone-and for what From the interest
OF tins fund all these pensions had been paid from
$500 up to that tme--for 81 years--and now IN TINS
economical administration in three short years tins
fund is totally gone-nol dollar Of it left except
some State stocks--mos of them good for nothing
which are unsaleable. Within three years the whole
of this fund has been wasted-has been expended,
not In paying the pensions provided for IN lSOO, bnt
those in 1887. And how came the act ever to be
passed-ths act of lS37-will the gentleman tell by
whom was it supported Then we can see whether
it came from Wings, or economists and retormers
The money is gone, and here is debt. Under the
act of 1887 you have contracted a sacred debt You
have pledged your Falkland say, the fund Is ex-
hausled, and we will cheat those to whom we have
made this pledge He would not consent to this, after
the faith this Government had been pledged
When this act OF 1887 before the House, then
the time ask and inquire whether these persons
were fairly entitled TO pension. Whether Congress
was bound to provide for widows and children and re-
latires Of the sepenM degree This was the time
The question not made then
But the resu, of the whole matter is, that the fund
of the public Treasury, amounting to twelve hundred
thousand dollars Is gone TO the four winds OF heaven
Now, instead of paying those pensions from the lne
rest OF this fund you called on to make appropra-
tons he did not oppose this ppropration-believed
it was sacredly due.
de asked leave to offer four resolutions, nquirng
how much had thus been invested in State stocks.
and by whose authority, &c, sc.
1t would be observed Che continued) that these rsi
solutions directly against the policy which has
been adopted by tins government, under the present
Administration, of employing trust funds and other
funds, in investing them in State stocks, and taking
State bonds for the payment Of them. lie had not
been able ascertain " no the originator OF this
system State debts have been assumed in that form,
and that to the amount of Millions by this very Ad-
minisration.
He would thank the Chairman of the Committee
on Naval Affairs, if he would point him to the pro-
visions in the act of 1900 which authorized any in
vestnent of the fund in State stock. There was no
authority He then went into an account OF the mo-
neys thus invested in the several States. Ehe satis
tics of which reporter not able to obtain, show
ing amount of four five millions OF dollars
which had been taken from this fund and Others and
invested in the way and all these stocks have
greatly deprecated, and are altogether unsafe
able
Hethen referred to the annual report Of the Score
ary OF the Navy at the last session of Congress- and
entered somewhat minutely into an examination OF
that part of it relating to the expenditures authorized
by the law OF 1887 He had spent small portion OF
last session endeayoring to have Congress take this
up Immediately No, no New Jersey members must
be brought into this House, at any sacrifice. Their
obligations, or the wasting of their moneys, the House
had no time to think Of
About the first September, 1889, five hundred and
nine thousand dollars deposited In the mint OF
Philadelphia in gold mint drops. On the 4th three
days after this, 5000 900 their way to Arkan
sas, to make bank, and what have you got for it
five hundred bonds the State of Arkansas of $1,000
each. There was election about that time. He
had heard great deal of talk about British gold oppo
sed to the present Admnstra,ion-but here was
$500 600 in their hands-here was polcy-profound
--economy--democracy: And although they
opposed to assuming State debts, there, in the
State of Arkansas they had debt of half million
dollars.
Have you not assumed the debt and employed trust
money your faith is pledged, and Arkansas should
become bankrupt tomorrow, this $500 000 must be
paid. New York might demand that you should take
of her banks matter OF right twenty millions of
dollars You have done the same with Arkansas:
Pennsylvania would have a right to demand fourteen
millions and he could easily make up two hundred
millions by nothing than carrying out the prin-
ciple hy which this money went into Arkansas to
make bank He wanted the whole subject TO be
looked at, and, with the blessing of God, 1t should be
next session He wanted to ascertain how much per-
mancnt irredeemable debt has been fastened this
nation by the present Administration.
The Committee of the Whole reported the bill to
the House. A discussion then arose, in which Mr..
Reed of Mass Mr.. Wise Mr. Thomas, and Mr..
Shepard participated.
Mr. MONROE hoped that the blllwoud be passed,
and at the session that the law would be looked
into