Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-03-07

perform requires an eternity Of repentance it is this
damning and detestable decd OF the cxpungr.
/ BY the by we observe that the ''igr-sou!cd Leigh
has since, under the ccstac influences OF the 'nol-
strous Clay dinner, drank "honors to the man VINO
Of the perpetrators of this "act OF moral tr
pltude. We might go on, but We can afford no more
space to this sublime nonsense. But really we must
request the Richmond Wing not to be SO indignant at
poor General Bayly, because his memory IS not que
Short his conception of eternity 50 brie rs TO en-
able him to vote for who according to that paper,
committed and recorded an "nct OF perjury, whose
"danning and dctestable sin deserved the 'execra,
ton of every patriotic heart, and cannot be cXpatcd
by an eternity Of repentance We cannot help m
sorting here peculiarly appropriate portion OF Mr.
| Rives' scrap of common-p place Latn-"Nescta mems
hominum tati S0rtsque tutara, ct scrrarc nodum. As
the ssrcbus secuds, do not think it very appiI-
cable either the past present future state OF hg
gerry. We repeat that hope there are many gentle
men, and especially in Virginia, who would sc"rn such
support and refuse to take seat III the Senate OF the
United States from the hands of men who bestowed
reluctantly repugnanty and with every expression oil
dstrust and contempt
But we are to convict Mr. Rlves from the re-
cord, of that which shall leave to our readers TO
stigmatize with an appropriate name AND hrst, es Us
observe that gentleman that he must not feel hat
tered by the time and attention which we bestow upon
his letter. We select it chiefly, convenient medium
for discussing the actual questions Of political conro-
versy, especially, SINCE being a very palns-takng per-
son. he has in his vocation, industrlously collected
slang topics, urged nsqne nd nauSeam against the pre-
sent truly Republican Administration, by the NOISY
orators and hired scribbers Of Whiggcry. Mr. R'ves
must us, if we do not adopt HIS arrangement,
which is not the most lucid but follow the order which
is most natural and convenient for purpose. As IN
all such examinations, object of primary Importance
is discred the witness, we proceed at once to m
stances of muatIon distortion OF the record to
which have alluded:
"You doubtless recoect," observes he ''that in his
message at the commencement Of the session of Con-
gress the President exhibited highly attering pic
ure of the condition of the Treasury, and of the very
successful manner in which its operations have been
conducted He told the Representatives of the people,
here is every reason to believe, If Congress shall
keep the appropriations within the estimates furnished
by the Executive, that the outstanding Treasury notes
will be redeemed and the public expenses be betrayed
by the existing and current means of the Treasury,
without imposing upon the people any addtionat bur
then, either of loans increased taxes; and then pro-
cecdcd to descan the "great evils OF public debt
in time of peace This message was delivered on the
twenty fourth of December, 1879. "On the 4th day OF
February following in less than six weeks after these
attcring assurances and before any appropriation had
been made by Congress- except Tor their own pay ano-
Their message sent, communicating an apprehcndcd
dcfciencY Gin the revenue and urgently calling on Con-
gress TO make early provision of certain and adequate
additional means to guard the public credit, and to
meet promptly and faithfully any dcHc'cHccS ~ me re-
rcnue from whatever cause they may arise or IN
other words by another issue OF Treasury notes. or n
loan in some other FORM TO incur at vcF creation OF
public debit" with the Remuneration of which he had
cmbcllished his discourse at the opening oi The session
Of Congress.
Now we think we shall not do injustice to Mr. Rves,
if we reduce this paragraph to the following PROPOSE
tons viz that the President described the actual con-
dtion of the Treasury furnishing; that he antci-
pated or pretended to anticipate deficit temporary
or lasting and predicted without qualification, that the
outstanding Treasury notes would be redeemed, and
the public expenses be betrayed, by the existing and
current means of the Treasury and that notwthstand-
ing he came forward in February announced dcti-
Cheney, and recommended the creation oil National
debt We will not waste time in dIscusson hut pro-
coed at once to the record The paragraph in the Pre-
sidcnts Message from which Mr.. Rives takes his ex-
| tracts, is this:
uThc nineteen millions of Treasury notes author
lied by the of Congress of 1887 and the modlfca-
tons thereof with view TO the indulgence OF mcr
chants on their duty bonds, and of the Deposite banks
in the payment of public moneys held by them have
been so punctually redeemed to leave less than the
oripnal ten millions outstanding at any time, and
| the whole amount unrcdccmed now falls short three
millions OF these, the chief portion IS not due till
next year. and the whole would have been already cx-
tnguishcd could the Treasury have realized the pay
mcn,s due to i; from the Banks. If those dae from
them during the neJt gar shall be Puact"ahy mute, and
if Congress shall keep the appropriations within the
estimates there is every reason to believe that all the
outstanding Treasury notes can be redeemed and the
ordinary expenses betrayed, without imposing on the
people any additional burden, either of loans or IN
| creased taxes.
II will be perceived first, that the highly flattcrng
picture of the condition of the Treasury, is drawn
from the financial operations OF last year; secondly,
that the hope expressed by the President OF thc ex-
stcnce of adequate for the moderate wants o.
the present year is grounded upon the ability OF the
banks to make the payments Which are due by them TO
the Treasury +" If those due from them during the
next wear shall be punctuay made, Is the important
qualification introduced by the President; and will 1t be
believed that the pure the far, the candid the saint
like Mr. Rves, in quoting this very passage, nay the
very sentence deliberately omits the first clause which
contains this important qualification and then reasons
upon it as if the President had made an unlimited pre-
diciion: Now if this be not mutllaton OF the record
we know not by what other name 1t can be called
When witness takes his stand in the box, he is sworn
10 tell the truth the whole truth and nothing but the
truth If this be telling the whole TRUTH we are no
iudres of evidence We congratulate Federalism upon
its new or rather newly avowcd ally He has proved
himself worthy of adoption by the laying on OF hands
But tho President in his message, alluded once more
to the possibility of temporary deficiency and pressed
upon Congress the necessity Of timely legislation TO
meet it nav more, he called attention TO special re.
port of the Secretary of the Treasury upon this very
subject in the following passage
" The precautionary measures which Will be recon-
mcndcd bv the Secretary of the Treasury to protect
faithfully the public credit under the fluctuations and
contingencies to which our receipts ana expenditures
are exposed, and especially in commercial crisis like
|
The portion Of the Report of the Secretary alluded
TO- and which Mr. r. must have seen, is entitled, "On
some permanent safeguard under fluctuations in re-
GENTS and expenditures 1t shows that in all coun-
tries and under all systems of finance, temporary def
cencies are liable happen, from variety OF causes
which call for occasional power Of anticipating the
public dues BY means Of Exchcqucr bills as in Eng
land or some other similar expedent In this country,
surplus on, hand which longer exists, generally
obyated this necessity. To shew how luctuating is
| ~, pyp following
Numerous illustrations in support of these views
have been referred in former Reports: of them
show sudden and great falling off in the regular re-
cepts though during peace, as the duties IN lel6 from
nine millions in quarter to only three millions III
the next and the sales of public lands, from twenty
four millions in IS6, amount over half OF all re-
cevcd in the previous forty years, to less than three
millions in 1888. =
| To show how uncertain is the amount of expendl-
turc We extract the following paragraph:
"The fluctuations are not, however, to be confined
to the receipts The expenditures which may be sane
toned by Congress annually, are very uncertain IN