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

preceding that OF General Jackson. lie TACT - INA.
no administration prior TO that OF Mr.. Van Buren had
ever existed under Constitution, which could be-
min National Debt because every preceding Admi-
nis,ration had found National Debt III existence
Such debt was contracted during the war OF the Ke-
yolu.ion before present Government was formed,
and yeas first finally extincushed during Tie admins
.raiion Of Gea Jscason aud yet re beiesed lie was
safe in saving that Administration hal borrowed
money and thus added 10 the existing det. and had
made pc ments towards is eAtngusnmen.. While,
therefore, j. was true that no administration PRIOR
to that Of Mr. Van Buren,, had hgan debt, either III
!, ,me of peace or war, and that Administration,
,rior 10 that of General Jackson, had paid off and eN
noushed our National Debt, it also true that all
Administrations well in peace us war, had borrowed
money. contracted debts, and paid debts. The simple
assertion of the Senator, then, that Mr. Van Buren,
was the first Administration which had begun debt IN
lime Of peace did not in his judgment-and he pro-
nounced the opinion with defcrence-present fairly TO
,he country the President or his administration.
II m;oh be proper here to remark that If the subse
ouent pos.,oms of the Senator sound, debt had
been beann under Mr.. Van Buren, administration be-
copse National Debt had not ceased to exist That
which had been treated National Debt in our laws
and ~ our fiscal accounts was eAtingu;shed during
the administration of General Jackson but fhc items
of Indian and other claims referred 10 by the Senator
are ~ bc set down as items Of National Debt, then
has cur National Debt been paid, and the ad
minis,ra,ion of Mr.. Van Buren, cannot have "begun
such debt.
ba
! under what circumstances has any portion Of debt
been contracted under this Administration:
Il would not be necessary for hun, Mr. W. SAID, IN
spend much time in answering this enquiry as most Of
The Senators present were menbcrsof the body IN s3I,
and would retain personal recollrc,ions Of the Whole
matter All would remember that Congress was con-
yened extraordinarily, for the single purpose OF sup
pyinr the Treasury and enabling 1t to preserve the
nnblc Faith and honor that this call not made a;
lime Of scarcity or want in the public funds, but when
our revenues were most abundant, when we had mtl.
lions OF deposiie with the banks, and millions due from
the M that their inability {" ray the drafts OF the rea
surer in conformity with the laws OF Congress- created
the want and compelled the call OF Congress-; and iha,
The same inability of the banks compelled MS, by the
admission Of ali, to borrow money upon the credit OF
The people TO keep the National Treasury in operation
This new debt not, then, contracted, or IN the
language Of tie Senator, began, because The extra
yagance Of the Administration had expended our sub
stance No, but because trustees-becanse those
with whom the money Of the people had been placed for
safe keeping could not pay upon demand according TO
our laws-because our millions upon m'iiions were
without our control the keeping Of banking ns,itu-
tons and the credit of the people was rcsofied 10 TO
sustain the faith aud honor of the country. What was
the extent Of the power then conferred upon The Ad-
ministra ton 10 contract debit 1t his recollection
served him. il was Sl0,00O,G0O And what were our
dues from the banks alone: IT he vas not mistaken,
some thirteen fourteen millions oil dollars and beyond
that one Of the prominent and worthy objects OF the
/
merchants OF the country, who were equally distressed
with the Public Treasury from the rcvulsons OF the
lme Under such circumstances twas lhat Tue present
Administration 'began q debt III time oil peace
The next position Of the honorable Senator IS, tina,
tho administration of MIR. Van Buren, has expended
much more none annually than the accrulng revenue
That he (Mr. Wrishp believed TO be true; but he did
not propose 10 follow the Senator at all IN the data
given 10 prove the position: he would say what NJ
was sure would not be controverted, that the Adm
| ha,o cd
no more money than Congress had appropriated ant
ordered to be expendcd-that every year the approp
atoms of Congress had exceeded by millions the cs
mates Of expenditure presented to 1t by the Executive
observation-disclosures that il was matter Tor Congress
10 provide the means 10 meet the expenditures itsel
directed But il would not have been unjust to tina
Administration if the honorable Senator had sald II
passing that during OF IT'S existence the mass
Of the public expenditures had been materially ana IA
pidly reduced. The expenditures Of ISIS were shown
by the Presidents message and the Secretary report
the two documents which the Senate. had referred u
this discussion to be less than OF lc31 Those OF II"
were some millions less: those Tor $50 had hcel
from two to three millions less than those for $50, ant
the estimates for ISL materially less than tlIos
for any preceding year This, then both SIDES Q
the bnok--it was Tie present Administration as II - il
reference to expenditures. During its term, those ex
penditures had been UNDERGOING rapid reduction
from the commencement Of lis four years 10 tie pre-
sent hour This was just and entire view Of the mat
ter.
The next position taken By the honorable Senate
was the most material one in his argument, and with
out which Mr. w. might not have felt himself calle
upon 10 make this reply The Senator dad not eve
assert his point, but IN n manner most courteous, *
pressed his opinion that the President had made VI
riety o mistakes and omissions n his statement at III
present National Debit as gwen IN his message tha
the country ~ III fact, more IN debt than The frcsi
dent and Secretary Of the Treasury have r"Prescnte
/, to br and that without his correction Of tlies
mistakes these exccsscs Of debt might he CHARGE
over 10 Tire coming Administration, and the presen
might retire under appearances more favorable thar
the facts would warrant.
Toexamine these opinions and apprchcnsions Of TIT
honorable Senator and 10 try them by the facts, shou
now be his aim and effort, and the purpose wheel
had principally induced hun, TO appear before the Sc
nate upon the present occasion
II was admitted that the President had referred Il
, the balance of outstanding Treasury notes truly H
had stated that the amount rnredeemcd did not exceed
, four and half millions Of dollars, but the complain
was that he had represented that as the whole debt
the country at The present time, and as the amour
E which would constitute the whole debt al the TIM
, when he should hand the administration OF lis al
fairs to has successor Now, how had the senate
sought show that the President had been mistaken
b. referring 10 what was called the trust funds an
principally, and he believed entirely, TO those portion
| Of those funds which apperaln 10 the Indians. il
reference the Indian trust funds he SAID not that In
fact so, hut that, examnation he was inci'nr
to believe that portions Of them had been actua
expended for The ordinary Of the Treasury an
were debt resting upon the country; that the ma
neys stipulated by Indian treaties 10 be invested Ina
moi been All invested, hut that some hundreds OF thou
sands Of dollars of those nnneys had been paid out an
ieypcnded and were debt against the Treasury
He tMr w } had taken much pans To Obtain in"r
nation upon these points the time which had eapse
since the Senator's remarks made would permit
and rs he designed 10 stale the facts fairly plainly, an
truly as far as he able, and as the various India
treaties varied in their provisions 10 the trusts con
stituted under them, and conferred upon the L. 5, h
would be compelled speak ofccrain treaties and Ger
tain trust, separately each by ITSELF TO make himself I'm
derslood and to enable others to understand the facts
He would REFER then the first place, TO the treaty wit
he Chickasaw Indians that treaty was peculiar, an
{ the trust constituted and assumed was novel IN GU
dealings with the Indian tribes. In this case the U.
r had become the voluntary trustee OF the ChIcknsaws
and had stipulated sell their lands as the public do
main OF the IT, $. is sold, 10 deduct SIMPLY the ex
penses of the treaty. Of the survey and sale of the lands
and such other expenses might be incurred for &C
count of the indians, not including any commission