Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-12-22
rwpyTy.sJyTH CoNGREss.--2d SESSION
IN SENATE.
T.csdou December Is, 1910.


Rssoired That the act entitled "An act to provide
for the collection safe keeping, transfer and d'sourse
ment of the public revenue, ought be fortn",h re-
peaed and that the Committee on nance De ihstlue'
ed to report bill accordingly.
Mr. CLAY said it WIS no part of hsparpose, in offer
nu his resolution invite partake an argument
on any question that might arise out OF the great nea
sure to which the resolution relates III was, 'hen,
! no purpose on his part TO enter into any argumeh,
HE would as lief argue TO n convicted criminal,
with rope round his neck, and the cart abont TO
leave his body, TO prove 10 him that ms conVicuoh
was according to law and justice as to Prove that ms
Sub-Treasury measure ought to be abandoned lie naa
brought forward the resolution IN the shape IN whicn
no had presented it TO the Senate, because he thought
il was his duty so to do The ordinary course OF legis
stion-,he usual practice, he was aware, IN repeating
existing laws-was TO move resolution Of instruction.
addressed to committee, and directing ap inquiry IN
to the expedency of the measure or to ask leave 10
introduce bill to repeal the measure which It was
wished to get rid Of But there were occasions when hat
ordinary lrm he presumed might and o,gh 10 ~ DIS
pensed with Ifthey looked for examples I" Inc ony
period which bears any analogy 10 that when exss
this mo,ncnt-he meant the period OF lcOo when Jentr
son anne INTO power but under circumstances lar diner
emit and in a contest equal and 81 doubtful issue
than that which has brought the present men INTO
powerf they lookrd back that prrisd, and saw the
Alien Law mt Limited aud temporal, bt Of permanent
duration-could they suppose thatit w"nld have
oury as To the eypedency Of repeating il NEST odlous
measure. But respecting THIS Sub-Teasnry, about
which they had had about three years andihree months
atrumen;-a period longer than the ust war WIN
Grrat Britain, and half great AZ the ur oi Inc re-
luion-undrr these circumstances, discussion q"
the measure would seem 10 be- unnecessary and MIS-
placed; il sufficient for him 10 say, That the ma
ton wills the repeal Of the measnre-tn nation de-
crers the repeal If the measure-he nntio1 c"mmands
The repeal of the measnre-nnd the Representatives
lNT MIN tafp were Unattached
peal il. They might dispute about what was ar was
not involved in The issue nf the late Presidential con-
test they might contend that that contsst aiir'nfd
this that principle or measure, and thei might u.s.
pue about he knew il the practice gentlemen
10 whom his misfortune 1" be "pP"sra'n that Sc
maize, after elections to contend that this ELECTION sane
tinns this puts down that measure, and bat eirctn
demonstrates that tho people are IN iarnroi this ana
opposed that measure, whether ub-lFasury or
u S Bank, and there might be c"ntra"rsy about
the matter, but on one point il was impossible there
could be diversity Of opinion, either hire or else
where and that IS, that this nhiion BY one1i tho most
tremendous majoriiies given i'll our ptIon an
: nas Whatever else It may have decided los decided
aua;nst this Sub Treasury measure. AND when the
nation speaks-when the nation wls-wfierthe nation
commands, what is 10 be done; There wusno nrces-
sity to go through the form Of referring to committee
10 inquire into the expediency Of doing whahe public
sentiment required What Senator would sand there
his place and say he opposed himself TO pc VIII OF
the nation:
He, for one had hoped that the Presidet Of the
United States, in the message which he had qmmun-
Gated at the commencement of the SESSION, with
ma nanimy which would have been becoming, would
have uncrd the fact of this will Of the naon, and
recomme ended a conformity 10 it, Let him no: be mrs
understood. flc would not ask the Presiden;-no, he
had too much personal respect for hun ~ had loo
much regard for human nature, 10 ask Tie fresi-
i dent to come here and say TO Congrrss,"l have
4 been wrong all this time the measure whici have
urged upon you for adoption is one that Wa found
ed in error" No it would be unmany he (Mr.
i Clay) could moi expect it at his hands bit he did
expect the President would have said wha{ the fact
was that he would have admitted that Tie nation
had decided against the tavorite ;and that
he would have recommended submission 1.-THE viii
Of the nation but least of all did he exHct re-
commentator and Improvement; and that thfSecreia-
ry ofte Treasury should concur in the nendaon
Of amendment and improvement of a measure against
which the nation had decided, which both lie Execu-
tive and the Secretary knew But if they disregard the
will of the nation prior to the 9TH of March ext they
knew we'll that il would not endure longer tan Con-
gress could convene, and new President cold act on
the
But word to the effect Of repeal Of hi measure
What is the effect of the operation of the present. Sub
Treasury SYSTEM it said TO be very Successful
This announced in the message, and rpeated in
the report of the Secretary of the Treasury lie should
7 however, have been pleased if those documents had
gone into details respecting the operation of CHS mea
sure showing how it had altered the bushes and the
relations of the country and the rece pts dsburse
ments of the revenue. But far il was SID it had
satisfied all their expectations, and tlccessful
/ operation. Now he Mr. c. thanked God far
removed from any of the Recei vers Genral-nay,
he wished he was farther emoved hut he sho Id be glad
tn know where had been its successful operation. Per-
haps the Senator from N Hampshire Mr. Bubbardl
might communicate the information. lie should be
glad tn learn how it had successfully operated from that
llustrious Senator who had ably and eoqS ntly de-
Tended the Secretary of the Treasury all ecasons
and he must say that it was most ungraten return
for those services To treat him as he had bee treated
recent election for United States Senator fnthe State
of New Hampshire. He should be glad hrwever, 10
learn from him [Mr. HUBBARD and from the eentem
who was at the head Of the Committee on Fnhnce, in
detail what had been the operation of this b Trea.
sury system-how it was acting-how it vas work
ing-how il was varying the financial and ctnulerral
and manufacturing affairs nf The country. lie would
tell them what he understood 10 he, though Il
paraled from many of these Receivers. GENIAL lie
understood that there not the slightest difference
prevailing now, from what before the fourth Of July
| last, was the system in operation. He Understood
that now then, the notes of all the sscie v
ing barks received by the collector and Transfer
red to the Receivers General He understandable pro-
cess was th,s A merchant of New York has a large
sum To pay-say S4C0; WELL lie gives a checkt spe.
ce. paying bank-he pays no money, bnt the ,heck is
endorsed specie-aEd he gives another check with no
endorsement whatever; both are carried 10 tie bank,
and are Carried the credit-true of the Govern
ment-but of the Receiver General in his pry ate nc
count private transaction. Well, they ali knew
whatever might be endorsed on the check for 800 or
$780, that they were both cash paper convertible into
specie, and this The usage PRIOR The 9TH d July
les and the paper of bank which cid pay spece
received BY the collector ofhe public revenae but
the piper of banks paying specie II is nav re-
ceved, and received before the 4th Of Ju TAX
ing N York example for illustration. The reve-
nue., when collected by the collector, was pad into
The bank TO The account of Jesse Hoyt-to his private
account, which the Government had no co1trol-
and he passed it to Paul or Saul Allen, who
had also an account with the bank over which Tie CO.
vrrnment had control or direction. Well then, the
whole revenue of the United States, amounting to
nineteen millions according to the estimates Of The
tually received during the present year-the whole
revenue of the United States, at some time orother
passed through the hands and kept in the custody
private Individuals who stood credited for the amount