The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1840-10-23

tenden, Davis, Dixon, Henderson, Menick, Prem
iss, Preston, Ruggles, Smith of Indiana, Southland,
White of Indiana, and White of Tennessee
NoEs-Alen, Benton, Brown, Buchanan, Cal
houn, Clay of Alabama, Fulton, Grundy, Hubbard,
King, Linn, Lumpkn, Nichols, Norvell, ,Roane,
Robbins, Sewer, Smith of Connecticut, Strange,
Tappan, Walker, Wall, Williams, Wright, and
Young
The subject was then referred to a committee
headed by the venerable Felix Grundy. This COM
mItee reported resolutions denouncng the scheme
as unjust, inexpedient & unconstitutional 1.-TWO
of their number only DISSENTING from that
report, and these were Messrs. Merick and Smith
of Indiana, 10Th SUPPORTERS OF Gen.
HARRISON. When the resolutions were be-
fore the Senate, the Wings headed by Mr.. Web
ser, then fresh from the purifying influence of the
bankers and brokers of London, made every effort
to. defeat their passage. One and all chmed in to
swell the chorus of alion--Clay, Critten-
den, Preston, Southard, and Tallmade--the men
announced, in advance, as the persons who are TO
form the cabinet of Harrison, if he is elected. On
the 9th of March, when the resolutions were before
the Senate for their final adoption or rejection, the
Wings, afraid to meet the question fairly and bold
ly, offered an evasve substitute, in favor of which
the following Senators, BEING THEN PRESENT
recorded their votes
Belts, Clay of Kentucky, Crittendcn, Davis,
Dixon, Knight, Merrick, Phelps, Porter, Prenliss
Rugges, Smith of Indiana, Soulhard, Spencer,
Tallmadge, Webster, and White.
Defeated in this attempt, yet shrinking from an
avowcd support of scheme not yet ripe for exc
cution, and seeking to reserve it for the hacyon
days of IIarrison's Presidency, these legislative
worthless adopted course fully in accordance with
their well known contempt of responsibility to the
people. When the question was taken on the fol-
lowing resolution:
"Resolred, That the assumption directly or in
directly, by the General Government, of the debts
which have been, or may be, contracted by the
States for local objects or State purposes, would
be unjust, both to the States and to the people"
The resolution was adopted-AYES THIRTY,
NAY ONE!!
YEAs-NTessrs Allen, Anderson, Benton, Brown
Buchanan, Calhoun, Clay of Alabama, Cuthbert,
Dixon, Fulton, Grundy, Henderson, Hubbard
Pierce Prentiss, Roane, Robinson, Sewer, Strange,
Sturgeon, Tappan, WALL Williams, and Wright,
NAY-Smith Of Indiana.
NIessrs. Belts, Clay of Kentucky, Crittenden,
Davis, Dixon, Knight, Merrck, Phelps, Porter,
Prenliss, Ruggcs, Southard, Spence, Tanadge,
Webster, and White, all fierce ADVOCATES
or HARRISON, and PRESENT IN THE
semitic chamber just before, as the journal
shows, REFUSED TO VOTE against the pro-
priety of THE SCHElfE FOR ASSUMING
THE STATE DEBTS-that is, creating a
VIEW NATIONAL DEBT.
So ended for the present in the Senate, this pro-
nigate attempt to bring back the national blessing
of national debt 1t was defeated by the frnIness
and prompncss of the Republican party. The
hope of these schcmcrs now rests upon the election
of Harrison; of whose administration these pro-
ccedngs prove twould be the earliest and layorite
| measure.
One word on the operation of this scheme upon
the States. The national debt created during the
last war was paid off in about twenty years It the
NATIONAL DEBT OF THREE HUNDRED
MILLIONS, PROPOSED by THE FRIENDS
OF GEN. HARRISON, bears five per cent. inter-
est, and is paid off in lively years from the time II
is created, IT WILL REQUIRE THE SUM OF
TWENTY-FIVE MILLIONS EIGHT HUN
DRIED THOUSAND DOLLARS, to be PAID
BY THE PEOPLE of the United States EVERY
YEAR, IN ADDITION to all the EXPENSES
OF TIE COVER NMENT
| If this annual payment be raised by taxation,
directly or indirectly from the people of the States,
in proportion to the Federal population, as II must
be, the States will be taxed annually in the lnllow-
| Ing sums, stated in round numbers, in addition to
their contributions to the support Of the Govern