The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1841-01-22

lCOncuJCd,
| The next position taken by the honorable Sem
ator was that most meteral one in his aguments,
and without which Mr. w. might not have felt him
self called upon to make this reply. The Senator
did not even assert his point but in manner most
courteous, expressed his opinion that the President
had made variety of mistakes and omissions in
his statements Of the present national debt ,as given
IN his message; that the country is in fact more
in debt than the President aud Secretary Of the
Treasury have represented it TO be, and that, with
out his correction of these mistakes, these excuses
of debt might be charged over to the coming admin
istration, and the present might retire under APP
pearances more favorable than the facts would war
rant
To examine these opinions and opprehensions Of
the honorable Senalorand 10 Try them by he facts,
should be his aim and effort, and was the pur-
pose which had principally induced him TO appear
before the Senate upon the present occasion,
1t was admitted that the President had refcrrt d
10 the balance of outstanding Treasuary notes truly.
lie had stated that the amount unredeemed did not
exceed four and half million of dollars, but the
complaint was, that he had represented that, as the
whole debt OF the country ut the present time, and
as The amount which would constitute the whole
debt at the time when he should hand over the ad-
miniStration OF lis affairs TO his successor Now,
how had the Senator sought TO show that the Pres
ident had been mistaken; BY referring 10 what was
called the trust funds; and principally, and he be-
lieved entirely, to those portions Of these funds
which appeltain to the indians. In reference to
the Indian trust funds he said not that the fact
So but that on examination, he was inclined to be-
lievc that portions of them had been actually cX-
pcnded for the ordinary uses of the Treasury, and
were now debt resting upon the country ;hat the
moneys stipulated by Indians treaties to be inves-
ted had not been all invested, but that some hun
drcds oithousunds of dollars Of those moneys had
been paid out and expended, and were nova debt
against the Treasury. lie (Mr Wright) bad taken
us much pains 10 obtain information upon these
points at the time which had Ella psed since the Sem
ator's remarks were made would permil;and as he
designed to state the fact fairly, plainly, and truly
as far as he was able, aud as the various Indian
treaties varied in their provisions rs TO the trusts
constituted under them, and conferred upon the U.
States, he would be compelled to speak CT certain
ucaiics aud certain trusts separately each by itself,
to make himself understood, and to enable others
to understand the facts. lie would refer then in
the first place, to the treaty with the Chckasaw In
dans that treaty was peculiar, and the trust con-
Sl,uted and assumed nov eI IN our dealings with
the Indians tribes. In this case, the United states
had become the voluntary trustee of the Chicka-
saws, and had stipulated to sell their lands as tho
public domain Of the United States is sold 10 deduct
simply the expenses Of the treaty of the survey and
sale of the lands and such other expenses as might
he incurred for account of the indians,not including
any commissions or othefrompensaton to the truss
lee,a md to account 10 them for all the moneys which
shall remain unexpcnded In other words, the
treaty binds the United States to sell the lands Of
these Indians TO the best advantage, to account to
them for the whole proceeds, and 10 manage such
of their cash funds as shall remain in the hands of
Government, without charge for trouble or respon-
sibiy
Upon Inquiry at the Treasury Department, he
learned that u law orCongrcss had placed the prin-
cipal part ofthe money 10 be received under this
treaty in charge of the head of the department, for
the purpose oinvestment; that small portions be-
longing TO Chickasaw orphans and TO certain MEM
hers ofthc tribe dcnominuted' incompetent Chcka-
saws" remained in change of the Secretary of
War; that ithe money in charge Of the Secretary
of the Treasury, all has been invested, over and
above the portion consumed in expense in conform
ly with the treaty, which there has been time TO
inyes, since the receipts; that the money is mostly
paid in at the Pontiac land Office, in Mississippi land
some time is required 10 get the returns olsalcs and
TO bring the money into the Treasury; that there
may be now from $50 900 TO $50 GOO of these
funds in the land Offices, in trGHstu, and in the
Treasury, but that no portions Of them have been
expended for the general use Of the Treasury, and
investments are invariably made as soon MS the srm
accumulated is sufficient 10 authorize negotiation
for stocks. The honorable Senator will see, there
fore that his conjecture that some three four hun
dred Thousand dollars of these funds had been ex-
pended is mistaken and that no addition TO the publ
ic deb, is to be sought III this quarter.
Whether or not there were small sums arising
under this treaty 10 the care Of the War Depart
ment, and not vet invested, he did not know, as
time had not allowed him 10 call upon the head OF
that Department for the information. still he sup
posed this information immacral for this argument
as II oncy in the charge cf the War Department
could not be in the Treasury, and therefore could
not be reached by warrant npon the Treasury, or
expended in the ordinary calls upon it.
1t was proper TO remark further that the only
Indian money in charge Of the Secretary OF the
Treasury for investment is the portion oil the Chick
asaw fund before pointed out All those moneys,
arising under other treaties, are, by the treaties
committed 10 the charge of the Secretary Of War,
and Congress has not yet transferred their custody
to the Treasury.
Investments of Indian moneys, TO large amounts,
had been made, both under the direction of tho
Secretary Of War and the Secretary Of the T'reds-
ury, and accounts of the transactions had been land
before Congress. The honorable Senator had re-
frrrcd To them, and had spoken Of p ices IN some
eases paid for stocks in manner TO give inc I'M
preston that he suspected the Investment ma mol
been prudeuy and cautiously made. Mr. wright
believed all the investments had heeh cohhhen 10
stocks oclhc states. description Of security which
he r,, sure ,hn, the Senator would not willingly de-
prccinre or di.poragc, and # he would refer to the
dates fine respective investments and to the prizes
co,ren Of the stocks in the principal markets oi the
country. at the several periods, lite ground would
h. discovered for complaint upon this point.
lie wcud now pass to another class of reieren-
cos made by the honorable Senator. and when in
The opinion Of Mr Wright, he approSmaied more
nearly 10 the discovery ola debt technically spen-
king. which is not noticed by the President: lie
alluded to the Senator's reference 10 several Indian
treaties in n group, viz:
q. Os,rcs 69,l20
.. nel,w,ros 46,0s0
8. Sin, or N;ssissinni, SOC, 900
d" Sacs and Foxes Of Mississippi, 100000
d" Sacs and Foxes Of Missouri, 15I,iOo
90 Wiunehagoes, l,iOU,VUV