Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-07-27
IN SENATE.

.N0RddY, Jufy IL, ISL.
SPEECH OF MIR. CALHOUN On THE LOAN BILL.
The b,ll from the House. authorizing loan OF twelve
millions of dollars taken up the question being on
lie passage
Mr.. CALHOUN said | rise simply TO state my
grounds for voting against this measure, but without
the slightest expectation Of changing single vote
after witnessing the united and disciplined resistance
during the progress Of the bill TO every amendment
however clear aud necessary
am not one Of those who believe that we are bound
To vote supplies to deficiency the Treasury
whenever called on without investigating the
which occasioned III the contrary, not only regard
il as right, but a duty before voting supplies, to
scrunize with the utmost caution into the necessity
cf granting them, and then 10 grant with extreme
Iteration, after satisfied OF the necessity hold
in fact that the right of granting or withholding sup
plies ia fundamental principle all free States, be the
form of Government what il may: and that 1t not less
necessary in our Government than that OF Great BIT
ta,n. II springs necessarily Of the relation which
- he found under Government of tax payers
and tax conSumcrs-thnsc who support, and those who
are supported BY the Government. Governments vii
be found leaning to the side of the latter and that
tendency unless counteracted by withholding supplies
must in the end impose on the community oppressive
burdens
To make out his case, il was not sufficient for the
Secretary show that there was an actual deficit; he
must 90 farther and show how u occurred, and why
it could not be avoided. This he has not done, ex
cept TO that there has been falling off in the
timaed amount Of the revenue nou Ue ougHl "
have gone iarther aud TO have shown that every effort
has been made his part 10 meet such falling on
by economy ir the expenditures, and limiting Their
amounts as far as was consistent with the public ser.
wee IT, after showing that he had done SO, deficit
still remained, would feel bound TO supply it, but not
otherwise So far from doing this. he had shown a
disposition precisely The desire TO make out
deficit instead Of avoiding one, and that too, ex
pressy with view that ne might make this call Tor
supply in the form of funded debt
He felt satisfied that had tho present Secretary been
acuated by the same strict regard 10 economy as ms
predecessor, that there would no, have been cert OF
deficiency at the end Of the wear. He believed the
Treasury was as amply supplied in proportion to the
demand upon it at the Of this year as
was at the of the last and vet We have
demand now, when the year is but half expired, OF
an additional supply oftwelve millions of dollars when
at the termination Of tie last under circumstances not
less trying, considerable surplus remained in the
Treasury. The Senate will remember that after the
estimates had been made and voted 10 meet the de
mands the Treasury for the present year, they Were
enlarged at the suggestion of one of the members o
the opposition Mr.. Wisel by the grant ofpower 10 IS
sue five millions of Treasury notes, which vas more
than sufficient the actual falling off of the i'm
ports below the estimate.