Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-03-17
CoNGREss---lst SESSION:
IHuysiaY, March IL, Ia

",
In the Senate the bill to provide for paying the dam
ares sustained by individuals IN the wars WIN ~
tribes since $780, discussed at consaeraoie enSti
and then passed over, with view 10 nave Pf'ieu ''e
r,r;ous amendments that offered to IT,
HOUSE OF REPRESENTATIVES..
The Journal having been read, and some references
of documents, &c. having been made
The SPEAKER announced the unfinished business
orthe morning hour to be the resolution reported on
yesterday BY Mr. Campbell, Chairman of the Commit.
Tee of Elections providing for the printing the Journal
ortat committee, and Of certain other documents emu
merated. ,
To which resolution an amendment was pending
Mr. JENIFER was entitled to the floor from yester-
day and proceeded with his remarks for some time;
when he gave way to
Mr. FILLMORE, who made certain explanations;
during which much disorder and excitement eAseu
thronrhout the Hail. and several intermediate eAPiaa
lions were made and intcrrogatores propoundcd
Mr. JENIFER yielded the floor, also, TO Mr. camp
BELL of South Carolina, for the purpose OF explanations
and was about to resume it. when
On motion of Mr.. JONES, OF Virginia, the hour nav
mo elapsed the House passed the orders OF The day
Several bills the Speaker table were taken up on
their first and second reading and referred
And the BILL alluded to yesterday, introduced on
le,ve by Mr. Bell to secure the freedom Of elections,
was by general consent and the suggestion Of Mr..
E,l that the House nj gt not be detained from acting
on the Treasury note BILL passed over on the under
standing that il should retain its place the calendar
TREASURY NOTE BILL
On the motion OF Mr. JONES, of Virginia, the
House resolved itself into Committee of the Whole
the State Of the Union, (Alr Dawson, OF Georgia, IN
the chair and took up the bill No i, being bill TO
provide for the issue Of Treasury notes. which having
been read
Mr.. JONES rose and said will ask the indulgence
OF the committee for short time, whilst undertake
briefly to assign the reasons which appear TO me 10
render the passa of this bill necessary and proper
And will here take occasion to remark, that tins bill
has not been introduced from any conviction upon my
o%n mind, or upon the mind OF the Secretary OF the
Treasury 50 far am informed that the resources
oc the Government for the present year Will not be
sufficient the liabilities of the Government dur
nr this year; in the event, however, that the amount
o. money be appropriated by Congress at It's present
session should not exceed the estimates submitted to US
a. its commencement If the of the Govern
,nent for the year 1910 shall be realized, 1t IS believed
that the receipts from CUSTOMS from the sales OF the
public lands from the debts due from the L. >. Bank
and from the Deposte Banks which suspended specie
payments in the year 1887, together with the amount
Of money which remained uncXpended IN the Urea
snrv at Inc commencement of the present year, Will be
Sufficient to meet the liabilities Of the Government
during the year say that according to the best m
formation before me, upon the facts which have been
presented by the Department, (Which am bound to
infer must have the most correct information upon all
these subects) say that this is the conclusion 10
which my mind has arrived.
But Mr. Chairman it must be obvious to every man
whose attention has been seriously turned to these mat
trrs that, coming the receipts are expected TO
il is now certain that they cannot be, received in time
10 meet the liabilities of the Government as they are
expected arise, owing principally 10 inc lact lhat
much the larger portion of the Liabilities OF the Govern
,nent for the wear will la! due in the first halt OF IT.
while the much larger portion otEc receipts from which
i, - expcc,ed these GcdnS to be luidated cannot
be realized until the last half of the year. In other
words If the receipts and disbursements OF The whole
wear would be spread over the year something Ike
canal proportions then, from the data before me, ar
f,.r nnclu H.
rent are sufficient to meet its Liabilities
It is known to every gentleman here, That the heDt
due from the Bank of the nlted States. amounting 10
something than two and hall millions OF dollars,
(ncudng nerest1 does fall due until the first day
Of October |, is also known By the members OF this
committee that Of the debts due from the dcpo-
site banks which suspended specie payments IN ls"',
in the present condition Of those banks, and some OF
those banks asking still further indulgence,
may by possibility not be received III time II may be
that they cannot be certainly relied upon at all.
MIR. w. TnoMrsoS inquired OF ar. j. now much
was due from these depositc banks:
Mr. JONES resumed Ii the gentleman will have
ln,!c patience will give him all the information he
desires The amount, nj present. is about S-03 ,0c0.-
il is apparent, them that here are something Ike three
and half millions Of dollars speaking IN round nuhi-
bcrs falling due in the last half OF the year and which,
therefore the Government cannot control Tor the pur-
nose of meeting tie liabilities which daily presented
Tor PAYMENT and will be apparent, also, that, with
that amount, the liabilities pressing on the Co
rernment could be taken up and discharged Bn, 1t
must also be known to all who have made themselves
ACQUAINTED with the subject that there are very large
amounts Of Treasury notes, ISSUED under former laws,
now falling due-hat IS, S1ou,'in, THINK on the ON
OF March, S250,000 the 1t.I, and 81 l'oo IN the
resi- Of March, April, and May Making All aggregate
Of rather less than 0OoGo to DC met on te score OF
Treasury notes now outstanding.
Bat, IN order that the committee may have clear
view both of,h means OF the Government for the year,
and of lis liabilities for the same period, beg leave
here TO call The attention of gentlemen to the annual
report Of the Secretary of The Treasury the state OF
the finances. His statement is this:
"For hereafter to be explained, the receipts
into the Treasury, the ensuing year, ot:Ho IL estma
ed so high in 1889. From the best information pos
ses..d by this Department, computed that the ag
rreqa,e f them, available for public purposes will not
customs sl5ooo,ooo
Lands 0ou',UUo
Miscellaneous loo,ooo
Add to these the balance available and
applicable to other purposes, which IL is
supposed will he in the Treasury on the
Is, Of January, 1910 15a6,3s5
The efficient means in that year will then
amount in the aggregate, to 2oioo,5oo
II Congress should make appropriations to
the extent desired by the different De-
partmens, the expenditures for lSlo, IN
dependent of the redemption OF lreasu-
~ notes, are estimated at .aOOoO,oOo
Including all the Treasury notes to be re-
would be about a2,75O,ooO
at the close of the wear amounting to a,59a,6l5
But the Secretary goes on to say:
"There will be due from the L. States
Bank in September next, on lis fourth
bond, about 2'2o,o'o
The principal now due on the Trcasurer's
deposites in other banks, which sus-
pended specie payments in lc37, is l,li9,!Wi
Should all these claims be collected in
1910, they would prevent deficiency,
and leave an Available balance in the
Treasury of nearly l,Oo2,e6o
It will be seen Continued MIR. ~ that according TO
the estimates furnished BY the Secretary, giving US
f. account of the whole means as we'll as OF all the
liabilities Of the Government, in the event OF the Co
ycrnment realizing the debts here referred TO- there
would be- at the close of the year. and provided the
estimates were not exceeded by the appropriations
made by Congress-, balance of 81 ,Os2,ooo. OWING
however, to the causes, to which have areaoy au &c
,aon 81 ,3rort and IN others which are more speci-