Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-12-25

po;nt Of objection was, that the messapn cLarg,i IL
icndne IS for National Debt upon some Oh, Il Ina -.
ties no had engaged n the past political s..s 81
country, and had represented - broad aud rcn.-
ground Of distinction between pures that ono
advocate Of a National deb; Of Itself i good and
other the opponent o. the existence vi G,b, This
/ regarded impu,ation wholly untounded ana
was this ground That he had objected to that nGr
| Of the Executive communication. No facts in ai,r
tory warranted the allegation II was mere asst,G,,
ST. " proceeded 10 say that lie had, when Lcfars H.
omitted one important item IN stating tie amoGn,
expenditures uader the existing Administration bryr,.
the accru.ug revenue, which ought 20 IL b.oua., .
the pub! view. lfh- tlr. " was ii ef.or. M. +.
norablc nembcr would pat hun right. In Marca. III,
a law had passed postponing tue payment - cert. -
venue bonds II consequence Of tie great iir- 1T "
] ork for lh;ec, four, and FIVE years Tie great H..
Of these bad fallen due, and had been received n,5 ill.,
Treasury since the present Administration had c,,e
| INTO power. The total amount was about milh II
OF dollars This being SO, then the whole anomn. Il
expenditure, over and above the accruing re,ennr
would amount TO thirtyfour Millions thereabous
and would thus give annual Of cvpcudt
lures receipts of tight ind hait millions wear
and he insisted again, that, looking al The matter II
purely financial view-iooking at the comparative no
portion Ut liabilities and Of to discharge then
when the President found an excess OF the former con-
tnung Tor f'ur years, al the rate Of ttsh aHG hcf
manaS PR aaRnn, and did moi part,cu!at,zr any on
branch II expenditure in which Gtrabe prac'
oal deduction could he made unlcss lar Il ne6
take place the pension list By tie gradual cecr,e
the pcnsoners.) and when he proposed new wta
sure as a means OF repienshlng the exhausted In.
sury, the question for Congress and for the nation
consider was, whether this safe 10 ie pl
sued in relation to fiscal concerns Was II wst
pro, ident, and statcsmanike:
There was one point IN which tMr. w said the III.
norabe member from New York had ent rely nsapp,e.
hended him. lie (Mr. Wright) had SAID that Mr. Is
! an o as n IL.
subject, the question Of the tariff or rather had COM
planned that THIS Administration had not taken II up
Now he Mr. w had not said word al 1T li.s 1:
nif, further than 10 state that another great Trduoc
immediately approaching IN the ii Cuits \,
which the message took no notice Whatever, white
did not tail 10 refer 10 two other reductions winch a
heretofore taken place What lie (Nir " Lad 81.
on the subject OF imposing duties FIR reychLs.
had reference solely siks and 1rtneS THIS had Ia,
delicate point with hun al no time. lie lad ior
long period been always desrous to las such duty 81.
silks and wines and II dd appear 10 him The sFauls
thing lmaglnable--the strangtst phase ot the ~
system Of reyenuc-hat should import 50 man
millions Of dollars worth Of silks and wines entire,
free Of duty, at the very time when the Government
had been compelled by temporary loans 10 keep IT,,
constant deb: Tor four years past. 80 Tar from con
drrlHg this matter ot ans dpiicary. had the Senate
The Constitution! power Of originating revenue BIZ
tie yer: n!st Thing hc should move, III his place.
u = jas tax both these articles Of luAnfy.
Were llr. ". 70 draw an inference from III. spec
Of the honorable member, j, would BE- that 4, fai..
seemed TO be his own opinion, and certainly scene
also to be that of the President, that II would IT. -
10 withdraw the whole or part OF the money cefos
ed with the States Than 10 lay taxes silks and
In this opinion Mr.. w. did not al all concur. Ii u.
question were between such withdrawal and the III.
position Of sach tax lie should without hesitation 81,
lay the tax, and leave the money with the States Hs
Il He greatly mistaken If such preference
did the public appreciation. Ike ioT
ng this amount Of twenty thirty mli5,
Of foreign products imported SINGLE year, ana b
consumed IN the country, and consumed, articles
luxury, rs the rich Alone and leaving the dcpos,;cs
possession Of the States With whom they had t.c4
placed.
SI W said, he believed he had now noticed . mrc
Of the honorable Senator speech required fcpg
and he would resume his seat with again repeating a.
It had beer part Of his purpose 10 ascbe either cA
vagancc the opposite virtue to the Administrator
the purchase OF Indian lands, other Transactions
That not his object hs point. lie only ",e-
10 present true financial view OF the condition ., c4i
affairs and 10 show that national debt mitch I
greater and serious than hasty reader Il IT, 4
Presidents message might be- led, from lis perusai l
conclude; and, however warmly IL acmonlshtd III
country against national debt yet these admont,oa,
were all uttered at moment when national Gcb ha
already been begun, and begun in time Of peace
Mr.. w. having resumed his seat,
Mr. WRIGHT SAID he rose 10 make very few =
plantations, and would dc,an the Senate but r. y
minutes.
He thought the Senator IN error as TO his addition |
six millions Of means which had been expended during
the term Of the present Administration, arising ;r
deferred merchants bonds. He spoke from !ccol.,e
,lon and would not be confident, but the only gems l.
suspension Of bonds which he recolleced, tooh p.c
under the act of Congress Of tie 10Th OF Oct -"
passed at the extra session Of that year. and that "as
suspension for but nine months and could oniy haf |
operated upon bonds falling due III that Year
In reference 10 the Senator remark as 10 the ffc.
dents anticipation ola further dnn'nu;lon Of tnr"
penses Of the Government he preferred that the lr'
dent should speak for himself The Senator sad H..
lie assigned Other for the expectation than "
Of the pension roll b. death Wiz; ~
President dad say
=, aise are in operation which wil believed, In!
still turtle, reduction, whou, injury to any important nam,
The expenses sustaining the troop employed ~
'da have been gradually and greatly reduced through we ~
scne Of the War DEPARTING and reasonable hc n
be entertained that the Necessity for mia! operations " II
quarter VII soon cease The removal Of ilc Indians if' ~"
settled borders nearly completed Ihr pension Ut GU
The heaviest charges upon The Treasury, rapid. dininis
death The most costly Of public buildings either hn
% nearly - and We may, think safely promise ourselves So
nurd exemption from border difficulties.
HIS principal object III rising al this time, vas
make correction OF into which tue Seneioi
had fallen in his first remarks N ref renee 10 the rsa
Of keeping the accounts Of the trGst funds n Y
Treasury Department. Tie had intended to make Z.
correction before, but not having noted II his hrti
il had been forgotten. lie was expressly au,h".AH
In say that separate and distinct accounts OF al iius
funds were kept at the Department, with all nc a.
curacy and which characterized the Ike, Pine {,
any accounts there. The books containing III s. ar'
counts regularly brought up, and the sta,rn1a
Of any such account conld be regularly and nccufa':
made from them. but the state of these accounts
moi, matter Of. course communicated 10 C"ng'''
with the Srcre,arys financial report. Such c"mus'
ncations always made when called Tor, ana ~
otherwise The Senator would see, therefore, tina,
dea-that these accounts, aud the moneys The Ir3
snry TO their credit had become intermngled with t
affairs o the Treasury, that was difficult 70 Z
how the trust funds did actually stand-wls m',il
ken one. There confusion upon The sHlJocI
the Department.
After a few remarks from Mr. Webster
Mr.. WRIGHT said he wished 10 add single reaai
which he had omitted when last up. TIE sera''
comp planned that the winch were stipulated.
the Indian treaties, 10 be invested for the Indians,
not appear in the annual estimates OF the SecFrtar.
the Treasury. He said the Indian annui,ics were y
nually estimated for, and therefore MADE T.
pear TO Congress yearly claims which must be y
Mr.. Wright thought il was perfect answer 10 the
geston say that the interest upon the sums s'FE
ted TO be invested and not invested, was annually o