The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-01-30

THE TREASURY NOTE BILL
On which Mr. WISE WAS entitled "a the aoor
n wi. W rose anu was about to proceed when Mr.
fHErr, of South Carolina, rose and asked the gentle
man to give way for moment to enable him 81 mate
| a correction m ~ Ae
mr. ME !, ! said, he understood that Mr.. Wise
yesterday al 9ded TO member this floor from the
stale of > q, who in the South Carolina Coa y.n,on
1872, voted for dissolution of The IJnion anJ AZ
nc MT H. was the only member of that Conyentoni
mere, ne understood il TO apply to him
Mt " ZOE said he alluded To him and according to
tne Pupic papers of that day measure was support-
ed or talked Of, for dissolution Of The Union.
Mr. hHE 1T merely wished TO saw that the gentle
man was mistaken. That neither ala he or any
Ieinpef OF that Convention, for dissolution Of
MIR. WISE said he was very plad the gentleman
nau referred 10 Il that the matter might be corrected
ne hoped that South Carolina would be the last State
TO 90 Tor dissolution of the Union
MIR w Use continued his remarks from yesterday.
MT w said yesterday he was occupied in showing
py statistical statements of the trade Of France with
the nited States that the proposition To lay duties
certain uxures, imported into the United States was
proposilion which involved the question of proec
ton and all the questions of duties He showed what
had been the general trade with France and the u
States; and continued examining the trade in
ton, rice tobacco and opposed the levying duties
on Injuries. The moment Injuries taxed, a
precedent was admitted for taxing protected articles
lie allowed that there deficiency in the
lrcasury--how great he could not tell--he did not
believe the Secretary of the Treasury could or any
other man-Debts now pressing, which require
immediate relief He would ask gentlemen who adj
yocated this measure II they expected to this de-
fciency, whatever il might be, with tariff Gentle
men could not be sincere in this expectation fer such
measure would require at least fiom sixty 10 seventy
days notice II must then, be protection for the fl.
ture
He contended that this was a temporary deficiency
and did not arse from defect in the of revenue
or in the tariff ITSELF but from temporary distractions
merely Of the currency-the war that has been made
commerce by the Administration for the last twelve
yearsthat it is owing to the heavy foreign debt arts
ing from the importation of specie by the Administa
ton into the country-from non-mportation and OBJ
sruction trade He said MS an ntitarif man if YOU
will wait one year-gve time for confidence to be
stored until imports begin to come in, before yon
wise the tariif-there would be sufficient revenue
not the time for revising the tariff He opposed
calling Congress together in this of temporary
deficiency. lfwhen commerce revived revision
OF the tariff deemed necessary he would unite in
-and for laying the duties unprotected articles
on luxures He would not say exactly on acnes and
silks. There We're other articles which would admit
| of IT,
He had no disposition to make war with France or
French commerce-for he had friendship and attach
ment to that ancient ally of the United States. If
yon begin TO legisate the subject of the tariff
and pick up pins here, and wines there and silks yon
der and something else that would be picked up by
somebody, you must legisate blindy and partially,
and neither in wisdom good faith until you see the
development of trade when credit is restored
There was, by the terms Of the Compromise Act,
diminutfon of duties to be made in case of a surplus
OF revenue as well as an increase, in Of decien
cy In 1885, we had excess of thirty millions
was there voice heard calling out excess -" ex-
cess, diminish" reduce the tarifra' Instead Of
diminishing the tarif-insead of complying with The
| terms of the Compromise Act---what was done with
the surplus Of revenue The archnullificr himself
from South Carolina, here on this floor
watching anxiousy. What sir !? The passage Of a
bill to give away the surpusto distribute the surplus
among the States Of this Union in four nstaments--
instead of complying with the express provisions of
the Compromise Act
Where |, CONTINUED Mr. W. Mine was the
only voice raised against it. Said l, as the bill
out OF the porch to receive the signature of the Pesi
dent, which only it needed to become a law--"There
goes the first blow against the Compromise act. There
goes the first blow against the ordinance Of 81 There
goes bargan-a sale of the public deposits. Il was
the first time that the Congress of the United States
had taken reyenue--he cared not whence il came-and
given 1t way for purpose--not the slightest purpose
named in the Cons,itution-but when there not
particle Of pretext. He said that the balance of
count between the expenditures for the public lands
and the receipts from them, on the side Of the
expenditures-ninety seven millions dollars had been
received, and one hundred and two expended On
this ground certainly there ought not to have been
distribution. Ii Gen. Jackson had vetoed that bill he
would have forgiven him all his faults; and when
the bill was before him, he Mr.. w } had good
ton to go up and ask him to veto that bill for his sake
and they would make friends.
old Hero with all his faults Ii gentlemen were for
bringing the coming Administrations to this line Of
policy, II would come in conflict with his (Mr Ws)
views-a line OF policy, unjust and unwise, which
violates the Compromise act and the Constitution OF
the United States, He would oppose it, let it be
brought forward by whomsoever it might he did OPP
pose it and would henceforM and forerer. He con-
tended that the main principle established by the Com
promise act, was TO raise revenue sufficient for the
purpose of economical administration Of the Govern
men; but not to give it away-to distribute it among
the States
When the subject of the public lands up he
would give his views. And he would say to the gen
tcmen from the States, rather than leave the
public lands Of Executive patronage, old
Virginia would vote to give away every foot of the
land to the States in which lies He would vote for
it, He did not propose this but rather than increase
the patronage Of the land system he would vote for
it, He wanted to reduction of Executive power.
He had been willing to express the hope that these
opinions may be the opinions of Harrison when he
comes into office, and be would do ALL in his support,
he could He did not reproach his friends with whom
he differed, but the differences onerous, and he
felt bound, on this great question, to put himself right
to state his views.
He had but few words to say in conclusion. You
ask me, what then will do You are opposed to
distbution-anJ to raising the tariffwhat will you
do am constrained, for temporary purposes, against
my will to vote for the issue of Treasury notes; and
for pushing rigorous reduction" for economy IN
the public expenditures; and for cutting down the
appropriations for internal improvements AT tins
time, when there is deficiency in the Treasury, he
did not concur with the gentleman from New York,
Mr. Barnard) TO 90 on, notwithstanding deficiency
with additional expenditures for internal improve
ments
He opposed the tyranny Of prescription, which
turns worthy men out of office frequently, and puts
in dishonest ones.
On one point he should with his friends
of the Wing party All would unite in giving to
the country a sound, uniform currency. As to the
mode of supplying this his opinions were well known
He had ever been with Madison, Of the opinion that
National Bank was absolutely necessary to carry on
the financial operations OF the country.