Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-07-13

SPEECf OF MIR. CALHOUN, OF South CARoIISA
In Senate -ifoadau Jane u, 1S4I-On the motion of
Mr. CLAW of KY. 10 print 800 copies of the report
Of the crctary Of the Treasury on the finances
Mr. CALHOUN said, that il was impossible for any
TO READ the report of the Secretary, without being
struck with the solcudc apparent throughout 10 make
out large deficit in the revenue al the year So great
was his socitude that il betrayed him into numerous
errors, winch have been fully exposed By the TIVE
Senators vino preceded me the side, that dc
not feel called on TO add word TO what they have said
in that res ect. What propose in connection witl
what may DC called the inaacal part OF Tic report -
To show, BY brief and condensed statement, wha
would be the deficit at the end OF the year, accord
ing 10 ih. data furnished by the Secretary himself
collected rom different portions Of his report but al
from himself, without adding estimate or figure o.
my own.
According. then, to his own data the available
means Of he Treasury for the year. including tie ba
lance at tie end Of The last year. Treasury notes anto
rized TO u issued during the year, and The rcrrnnt
from al! sources would be 81 9i2 80 This IS made
up, first, Of the sam Of l223io the aclna! receipts
into the Treasury fran tl beginning Of The year 10 the
lth March Including the issue Of Treasury notes and
the balanc hand, at the commencement Of tie
year. and in The Of the Of so, 15O,3Jo, at
which he estimates the receipts from the 18th March 10
the end Of the year, including Treasury notes author
Ized to be issued Both items are taken from tie re-
port, without the alteration Of figure. Cents are omit
ted, as they throughout my statement These To-
srher make the sum Of -! 9i2,931 winch, as have
stated, is the aggregate Of the available means OF the
year, according 10 the data the Secretary.
The actual demand the Treasury for the year viii
he, on his data. $2- ,027.G have obtained the re-
sul first, from his statement Of the annual apprcpria-
tons tlie calls them definite approprIaons) made du-
ring the last session, which he puts down al l1,3l,
-; next, from the permanent appropriations payable
in the year, Sl,.-,l5 followed By Treasury notes,
which he estimates viii fall due in the year, come
of,
~, ST. These Items all taken from l2ll page
Treasury report, House document. In the table CON
tanning them, Tie item Of Treasury notes put down al
- i3l l2l: bu. there is note appended, which gives
the items that compose il, which, strange To tell, gives
not that sum, but the have stated, and IS 80 foot
ed, making difference Of nearly Slo0,GhO. have
taken Tie one have, as find the items that compose
IT, stated in another part Of the report, according with
those thai rive that sum. The next and last that
cnmposes the stems, which makes NJ, according to the
data Of The Secretary, The demands on the Treasury Tor
Inc year, 81 81 009 si, the estimated difference
between the outstanding appropriations at the end Of
the year compared witii those "i the end OF the last
wear THIS sum have obtained in The following
ner; The Secretary estimates the demands the Irea
smry from the 18th al March, 10 the end Of The year. at
81. 1871 GIG, and That which viii be required for the
service Of tie year, from the M Of March 10 The snd at
81 GGg. The difference between them (S92ab,-
6l6) world Of course, be the amount of the oustand-
lng appropriations according 10 his estimate, at the end
Of this year. Take that from tho sum OF 200,
y ch lie states 10 he the amount Of The outstanding
the end Of last year, (scc l2h page
Of report and the difference Will give the amount
have stated as carc,able IL the disbursements Of the
year and all the items added, t9 aggregate amount OF
those j surscmt nls according TO the Secretary own
data Subtract the aggregate means Of The year 2l,-
92 $50 from the aggregate demands, (SS ,Ol2,"O)
ard he deficit would he S3,0t',-il
But lrola this, Two items must he clearly deducted
Inc fnpa pi he
wear the item of S2i5,l Of money IN the mints be.
iaurinq 10 The Treasury. Next overcharge in the
disbursements Of II l0Gl Of Treasury notes, issued
under the act of $50, between the 3st Dec, slo and
il of March ISll and which will not fall due TIL next
y.ar Both The Senators who preceded me, have clear
IL shown this 10 be ovcrclarge. viii not attempt
T. add Ia their proof. These two items added make
:: 80 81 and that SUM subrdcied from S3,Ub:lsii
vcs ior t!.r deficit according 10 the Secretary own
data Al The end ofihc year, the sum of 81 1a:'? lie
estimates il at SlC0~-9', making an over estimate on
his own data d 81 l,039,Ga6
I. i true that he makes ont his deficit IN par by
adding items that have not been, and large part OF
Them probably VIII not be, appropriated by Congress,
INF q hen we sneak Of deficits, refer 10 the excess Of
he authorized demands the Treasury over lis avail
,blc means and not such demands the Secretary or
,ny IN, else NAV think ought TO be authorized by law
In ,ba, sense there would be limitation IN The deficit
anon, items Of this kind tie Secretary has added
,ne Of four millions Of dollars, TO constitute stand.
nr Jcposte IN the Treasury, that IS, the projected
Bank and this lie proposes 10 borrow, say, al SIX per
,en,. which would make an annual charge OF S.4o,-
300 on tie people, that tic Bank may have the use OF
, fnr notl,;nr for one, shall never agree TO such
measure Ii the Treasury Is 10 be guarded against 'se
contingency Of an accidental deficit, vote oil credIt
,,or;y,p; The temporary oil Treasury notes, or,
IS called IN England, cxccfusr bills, would DC greatly
preferable. There is another large item 81 nearly
million and half in addition TO what has already been
In Il,
voted This year lar 'of'i'ca''os, 49,, l,n,n h,s
rive nv assent The great changes mat steam mas
,,,de and The still greater that It must make III me
oc war OH the ocean, require that the "iele
nh.ct &c The defence Of orr maritime frontier Should
"a by able and sklful officers, before We pro-
cod any further III the present system OF Qualifications
III ~, has been done and what Is proposed to be
,,o u.o,I uroyc OH such vew 10 he wholly Useless
n,.r thrown away | say nothing o! The otlcr
irms Of the kind-they are small Tor WI uhueI
% y,ov hat will be tie actual deiIcIt, u any. !.
youd be- too hazardous The secretary can ''inh.
- loss or nothing at all, ut his pleasure But II
-, LorId choose TO leave the outstanding appropra-
,; - ,bev stood las, year, there would te III lie
r,aa.mya considerable surplus, instead III dehc't'
m ,bs contrary if lie should undertake TO spenu 'se
,,,on he may increase the deficit 10y many m''i'o"s
We know what his desire Isl and II remains - VI s'e
what he will do ,, ,as,;on de- |
nd, ' our attention Why this deep and ANXIOUS So
o;,nda 10 make out large deficit Does IL or'sihae
= party feelings Is the oblrc' to as'Tac. fon ,1
PREDECESSORS in office, by showing that they nave s,'
ho finances in an embarrassed condition u may "
50 in part but i, would be doing The Secretary S,1o.
10 supnose that il his sole or prnc'pai mo-
~ Not was much higher. 1t originated IN Tue
.lr that to make on, large and permanent eeHc'
rar WHICH no provision made, was highly import,
M, If not necessary, to carry out the measures when
hs nd his party contemplated llcnce tie soic''uus
tonce the zeal that has led to 50 many errors aho
d;serepanccs, and to SO grca; an oyer-est'mae'
VIVA, these measure. are, for which such anxiety :
rc,t the Secretary has not left US to CONJECTURE NJ
hos told u, plainly-ihry are, first and foremost,
nndcd debt 10 be followed by National Bank, ana
hrourh it the restoration of the partnership oil .he
Government with the Banks, and that, by heary au
ton 10 the taxes by an increase Of the iat T"o
Inay The distribution among the STATES OF the revenue
irom the public lands .,. -ea.smah,s in
t years and il to consist, in the first place, Oh ms
,.5maed deficit of upwards Of sixteen millions, Q,
h;ch four millions is 10 be, in reality, PerhaHeu
o.n 10 the Bank without interest," as has been sa"u
IN the next Of six millions to be subscrnca " ,'
mr. share of the Bank stock, and then Sou W.,
,oo 70 he subscribed by him for The States VIVA.
h, b,ve we 10 authorize him TO snhsct'nc 10, '''c
~ tt IL