Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-07-20

loan a. favor .: loan :eaetaiaeo al IL: tine Oh
SIX months notice.
r.,r & here referred 10 aad reed passage from
t.t Secretary ; .epnTt
WAY are We ;o!d il. Inc loan is n; . b. FedeiHa-
HE c-:lt wears True, there % provision 10 H
bin winch allows thu Secretary - bay up ihe s,"cS
Hleneye. there shall. be a surplus IN s hands aPFlcd
BE 10 that purpose Bot c=n he purchase me STOCK a
mar or under par: ! know aHG admi t!iat thef- aie
rrea, advantages IN laan when GOVERNMENT wants q
a7re sum ii money, and wants iSi"F iohs Ii.e ~
,al,s,a g.; always lend tier money IL lower Tale
=. ,,.a,s., when ta-. i.7va untoua;rd security, and
ii. debt has long tIne 70 run, but viii any gentleman
H., me thai there @ be- applications Tor STOCK winch
4 10 be but for twelve millions at dollars, aud winch 4
TO run bu; Tor eight years: II they will then lhis H.
berly 10 buy up the stock against the only principle
winch will induce them take the stock, namely, the
,,.e ,i., he debt has - and thry certainly VI"
NJ, sell hut - large premium. And what Use VIII
thee he IL operation like tbs:
We a,e told. however ina, funded drh,s iess de-
lusiyc than floating debt, ard tia, bond IS better
than a note. Vow, br.ye that legal gentlemen VIII
be at some Joss to comprehend tis Surely It IS the
amount, and not the form Of the debt TO winch We
should look What i the gTea, df"rtnc between d
note and honda note, that mag be pa'd al snort no
tce and bond That binds you aud you. heirs: There
) 10 difference Whatever III pom, Of economy, save
tins that II you have money 10 take up your note,
you get al once of debt and th's far i goes,
IS conclusive against loan anc IN favor CT Treasury
notes
Another argument for the proposed loan is furnished
81 the Secretary n his report, as follows
.Hh,te tie potr'r " Treasury exists there
should be d, all tunes, iof the convenience Of the Trea-
sury srm equal 10 Il ,o00GG0 IN the deposi.
tories, suilec, u draft When that power expended,
The sum should ae increased 10 moi less than 81 000-
900
Tnsis anoih. argument 70 show that The bill Of the
committee not - conformity with the report Of The
Secretary; .or il IL" wants twelve millions, and wishes,
hes DIES II rrau TOUR, the ball. i; IS Obvious, ought 10
have ID. n 1T siairen mill,nns
M- FILLMORE here with book in lis hand,
AMI desired 10 c%pasn.
sir. G!LMEii. ~, no. have bot hour. II
the gentleman desires 70 EXPLAIN let hG wait Til Mon
day ion mh:! fay III" y bate ceases
Nlr Grin-r Proceeded lie would merely call the
alterations Il iriead 10 those t.o points III winch lie
b! departed 'toa. Tue report. Bu. liz would ask 'he
ioa mad" Ifsd-cmIabie IL. eight years, and The
annual receP'l"-fe = amount 10 twenty-five millions
and Il ms IRE 10" M to the mark and honestly en-
dca ;or,d L. r, n tie expenditures Of Government
wla, would ~ viii. III. surplus revenue. The
surplus woud ~ tn present debt in one Or Two
?ea.s |, would ri be applied 10 buy stock, because
would have ~ 1t. bought al premium what, then
.s.s 10 be done %b the money Was i 10 lie IDLE or
II 10 be sqlaateied oa al SORTS OF OBJECTS wh'ch
could BE- devised I" spend ~
Dy loan the Government would lose mere than il
gained Both the amount vas TOO small, AID he tine
100 short! 10 render i dssatl- nvestmen; Tor capt
,alists whose ncCcemeni 70 take iow interest "as
Iona running debt. And although tac Government
nigh, gel .ncney al pc. cent. to redeem Treasury
notes hch where running .. per cent, YET i wouc
lose more ~ payn1 nte!e,; on money did not want,
than would make up Tor tbs difference 0; one per cent
Oni, halt The money woa!d Is wanted THIS year even
including the war appropriations Stx mtiii2ns out u
the tse.e would rot II, wanting until mex, year; Ii
the Government took NJ ~" money, not al once but
,le hy little as was wanted, they mus, * pei
cent i3- II In TIA; thy could nc, save the per
cent .ad If they took ~ the * millions a, cEce the
loss tv interest would ;" greater than th- s~yin.
HI vas Intended 10 keep h. tarfia tariff fnr -eye
nue. alone, ilr 6. wa- prepared 70 90 Wit. gentlemen:
10 impose additional duties but mast be tariff ;or
revenue, not tariff for protection. LIS motto th,s
point might be comprised IN words 50 often quoted
Ii!iinns for defence but not cent 10. trba,e Bot
ne had shown that the increase .: revenge would not
have bsen necessary Had not the House created the
aecess Is distributing the awaits the public domain
/" hy he unnecessary ,,en Of $4,000. 10 pay the
penses Of agency 10 Europe 70 sci! .he stock. Could
no; the money be obtained q, home. Mr. e. was o.
posed 10 carving stock into that market until Aneri
can stocks stood there al tile higher credit IL re-
GREETED State stocks hahsd anc peddlcG about
aat market, until they had become Dirt cheso lie here
i.Trec 70 certain documents recently received from
In gaad IN winch i va; pretty pa'n!y nnied that ths
General Government - sustain the credit d:
STATE stocks a5roaG Ni. g wished - aeaa cur c-eG
s1uGG. lie believed the c:rai. q; ;;s Government
sound tie did wis nd therefore,
ne id not sh 10 ~ .loc. ,4Fowa INTO the British
market lie could vital difference between =
Treasury note and Treasury bcnd The difference
between them mech Ike the difference between
.'an Old cooked hat, and 'aa old hat ccckeG Both
were SIMPLY EVIDENCES Of the obi gat,on 0: Tie Govern.
men, TO pav mone. Wig should tins be made parts
question Was t.5re ans thing fr,ghtiu. IN tin 10.
ton ii Treasury notes Gentlemen might very Il
cusab,y object i9ndet Debt, .en ttcy reflected
the history ot II Tia. measure lac then icon Frsc
nanl with the fate this Republic Times aG changed
since tHat Cay, and We were no" sbe 10 give more
patriotic direction % tie operations ." Govern
rnen; Was ,hs a party measure. II sad IS
some geni-u.n - be Administration measure
And Iir q was afraid he should be denounced a. not
loyal 10 the Administration because hc did think
wi.h tie Chairman ol the COMMITTEE ]! may be aIs
Mr. G j that some political coxcomb may undtrisse 10
-xcomnrulca;e me- read out Of THIS that par.
ticular faith, from some caprice or other who, per-
chance, ftms-l! know OF orthodoxy than
bishops horse knows Of the Liturgy But there was
need 10 treat tins party question. L. was purely
matter Of dollars and centsa question at profit
anG .ss. He cd not tina, there primcp PIE
IN Il %hick col.G be fatal e,t!e! way-uncss, nGeed,
this WIS par, and parcel Of great stem wth Winch
his colleague, iir WISE haC charged lie .idtn!as;rl-
ton.
Dt il never occur 10 you, said Nr G., thai !, i a
very G.icnli thing, al tins moaeh 10 stale what =
and hat ! not Administration measure ~ T. the
President, IL occupied position tie most sale and at.
yantagecus # ;or politicians ii l~as; fr the Eco
pie and the Constitution. The People are the Pres.
drn,'s party. lie has no business with patty hero
Men OF ali political parties ieFe Wing Democrat r..
derast Conservative, Loco FGca, Whatever their
name-ard sc have all found la; rose By am other
name wri! smell as especially just before a
Presidential e.ecton) ALL all ought 10 rally round the
President.
And hero, part Of his argument, Mr.. c. read an
amendment. whch NJ sad !, would not BE- or.
dor Iu Ia off. a he ~ IA 1T /: