Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1841-07-17
resolution. i, was carried by yeas and nays as

resolution i, was carried by yeas and nays as
follows-Yeas Ill, nays 10
Mr.. W then moved TO reconsider the vote, a I'd
demanded the previous; question which prevailed
and the reconsideration was rejected.
On the Sih, after some business Of unimpor-
lance, the Loan Bill was taken up. when Mr.. Pick
said that this bl. although os'ensibly bill TO
enable the Government to borrow money. was. 10
fact only scheme to enable the government TO
tax the people. He then went into an examina-
ton of The taxing power, and showed that Eng
land operating upon comparatively a small terri
tory could raise $3.50, 900, 600 with less oppres-
sion upon the people, than we could raise 500,
600 900 IN this country, for We raised the reven-
ue in one portion, and expended il IN another,
which had the effect of impoverIshlDg one, while
in enriched the other portion.
Mr.. p. illustrated his position by reference
TO France and Russia. lie expressed astonlsh-
me Mt that the chairman OF the committee ct ways
and means should have endeavored 10 irrltate the
worst partisan feelings when he introduced the
bill, and said hat he would not follow The exam
pie He then endeayored TO show that the esti-
mate of the debt, as made by tho chairman of
the committee, altogether erroneous, and the
utmost extent Of that debt could not exceed 49,
600 900. instead Of the enormous and unreasnn
able amount set down by the gentleman of SIS
600 900 MIR p cut off in his remarks b.
The expiration Of the hour
MIR. Sergeant SAID that it true that the
people had changed the interests Of the country.
If it was askeo why they bad changed The ad
mnistratlon, he would answer that II was be-
cause they chose lie change 1t. He said that a
practice had gr.wn up IN this country, Of using
money for one OBJECT which had been appropriated
for another, winch enabled the government TO
run the people IN debt without their know edge,
which ought TO he brought to close; and he
conceived that MS was argument ~ favor oil
the bill.
Mr.. s went On to show that tho late admins
tration had run the nation III debt SlO,Oua,OUo,
which il was iae duty of this administration To
pay. lf the late administration had paid the
debts of the nation, The present could cot fol-
low their good example, for there would be no
debt TO pay. He alluded 10 the argument of the
gentleman frem South Carolina, on the subject
of taxation, whirh be sand argument
gainst The Unia. lie had not concluded when
his hour glass out.
Mr.. RiIETT carried out the argument Of his
colleague, aud re-nsserteo that taxes levied in
one place and expended in another, inevitably
linpovcri tle people 50 taxed. He had lis
tined 10 the gentleman from Pennsy wanna, with
astonishmeni. when he arguing against this
well known fact, Which he looked upon a iruis'n
He admitted that the interests of The North were
the interests Of the South; and he bellev ed II
was natural pride inherent IN our hosoms l."
the American fabric, but the North had not
right 10 enforce. By oncrous and unconststutinn-
al burihens, those fabrics upon the people oil
the South.
Mr. Fessenden then rose in favor of the bill,
and instituted a critical comparison between the
reports Of the late and present Secretary q the
TREASURY He said that If determined
uay increasing our Ws ard go on grpd
TO increase our issues of Treasury Notes or t.
authorize this oan and he was decidedly IN favor
of the latter.
Mr. Salstonst,iI having obtained the floor, mo-
we'd hat the conG.Ittee rise. which was agreed
I'll 81,