Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-08-20

SPEECH OF MIR. PICKENS, or sorrn CARoLIS.,
On the Distribution and Presumption Biz, delivered in
the House Of Representatives, July =, l5il.


the House of Representatives, July =, ISL
Mr.. PICKENS said he did not rise to trespass upon
the time of the committee by any lengthy discussion as
TO the mere details of the BIZ. Contradictory and I'M
sound many of those details were, he left them TO be
adjusted and modified by the friends of the measure.
IL would be his purpose speak to the great principles
ana vital points involved IN il, and connect 1t with the
other hsca measures, which constitute one system as a
whole, TO be presented by the dominant party at pre-
SENT Tor the adoption Of this Congress and the sanction
OF the country We were induced 10 believe that Con-
gress was called together al this extraordinary session
Tor the purpose of relieving what were said to be the
necessities OF the Treauryto relieve the wants Of the
Treasury, because the means would be short OF the de.
mands. And the Secretary of the Treasury had LAID
before report, which Mr. T. could not defend but
the statements OF which he would avail himscfofn the
remarks he would make The Secretary had called
The attention of Congress TO The fact that there would
be, ut the end of this year. deficit III the Treasury OF
millions OF dollars and that in the of 1912
there would also be deficiency Of six millions more
And instead Of preparing 10 meet this supposed
by prudence and wise means, we propose, FIRST 10 d
vide out annually three millions Of revenue that has been
received common for forty years, as 10 maxi this
supposed deficit still greater Instead of relieving. the
Treasury by supplying II with means, for which pur.
pose were called together, you propose first to with
hold from Of its largest and most just sources o
supply The next great proposition We have made &c
us is, 10 borrow twelve millions Of dollars for eight
years Connect this with the other, and IT is nothing
more nor less than proposition 10 borrow money, that
you may distribute You propose 10 raise taxes with
hand, that you may distribute the revenue with the
other
Again 10 meet all these arrangements, we have the
proposition 10 raise the taxes, as 10 increase the
revenue from customs at least twelve millions OF dol
lars ocer what il would be under existing laws. Mr.
p said he would not say what had taken place in Com,
mitiee but the Secretary Of the Treasury, IN pre-.
senting his whole system of measures, had recon-
menLed an increase Of the tariff that every article
now under 90 per cent duty should be increased up TO
20 per cent: and articles duty free were also TO he
raised IN 10 - per cent except such were intend
cd to be n benefit 10 the manufacturing interest; and
those things that they specially consumed were still TO
be duty free. The compromise was 50 framed that
The first half of its operation intended to bene
lit investments in manufactures, and tic last hall
operated to The benefit Of the exporting or Zee trade
interest; and now the proposition 10 deprive Us OF
this benefit. II was well known that next year duties
would commence 10 be paid in cash; and Vt the home
valuation were TO be executed, (Which do not believe
can be done, II is impracllcable that with cash du
ties, would hc cGsal at least TO 10 per cent The
whole amount Of the proposition was, IN effect o the
last biennial operation of the compromise went n'o
ope ration st December neAt TO increase our taxes 10
~ per cent. upon all mpor,aons except such as were
consumed especially by the manufacturers. Consider
nr The vast and increasing resources OF the country,
il would not be difficult show that this would give US
time of al least $40 000O00 In two years, in all human
probability, our mportaons will b. one hundred and
fiy millions; say that twenty millions are excepted,
and then you Will have, At any rate twentysiS NH
lions from imports at - per cent at ra'oTem 1his
viii be al least twelve millions than We would
have this wear under the present system II is Then
proposition increase the taxes At least twelve millions
Of dollars We then have proposition pending (Which
he feared would become law) 10 create Y. D Bank,
and for this Government TO subscribe INTO II ten mil
lions of dollars, with the condition to increase II up 10
near ven millions Take thu len millions, now
ever and that is to be done by creating Government
stock al FIVE per cent, which is The same thing as 70
borrow it, We then have the twelve million loan bill,
the proposition to increase the taxes Twelve ilions,
and the ten millions stock in bank making IN all lhir
four millions ofdolars, in funds proposed TO be raised
Immediately By the dominant party VI tbs county
But Sir in addition 10 all this, We NJ have the pre-
sent bill before u.s. Mch distribute annually lhree
millions of revenues 1t would not lie a, all difficult
10 show that with increasing population and re-
turninu prosperity we will have III eighteen months
from this not ony three millions from the public lands
in revenue but at least five millions annually How
ever assume for the present the sum TO be three NIL
lions and 10 distribute that amount annually IS the same
thing in effect as to fund The public lands or in other
words 10 create Government stock at six per cent IN
erest to the amount of fifty millions Of dollars What
il the difference Suppose you were TO say that you
will create Government stock for fifty millions Of dol
lars and that you would divide pay over the interest
annually amongst the States is il not PLAIN that, as lar
money is concerned it is dentcally the same PROPOSE
lion as 10 divide three millions of dollars annually
from your revenue? If the amount should be MORE
of course the stock would be greater The PROPOSE
ton then, as far operation IN finance IS nvoiy-
ed is to fund the public lands at fifty millions oil dol
lars You propose set aside that treat ana Pera-
nent source of revenue, for the benefit o Diners ne
wit of man cannot show the difference, as idr Is "c
6scol action of the Government IL concerned, ne.
ftrid
], propositon TO create Government stock at SIX per
cent to the amount of fifty millions OF collars lot
;s m annual division dividend stripped ol us uis.
ouses and hnlsy pretexts, this Is It's meaning us spur"
and substance, or 1t has nome Add inns my hon'
of pnbic stock thus 10 be created to the other thirty
four millions and we have aggregate OF e'ghy-onF
millions Of funds now proposed to he raised ny .n's
Government These are the naked propositions made,
not 10 relieve the wants OF your treasury, pu' ~ &c
lieye the specializing and spendthr'il race py hAe
them, through this GoSrFnmehi' cPo" ,"e
peopIe of this Conederacy SO lar as tie fecuh'aiy
nr.raon was nvo!yed-s far rs the national finances
we're commemorative effect of this and the other nea
surrs now proposed would be TO create eighiy iouF
millions of public funds, over and above tue oruina's
sources of revenue and the ordinary wants OF the 90
yernment. Such were the naheu, uhu'SSu'se" P'"f'
sitions before the country.
This hill is only part and parcel OF the same slupem
dams system. lie had thought that Congress was cali
I'd tonether to relieve the wants OF Tue l'easu'., ~
now the argument was, TO relieve The county, NJ
lieye the States. Did say TO relieve the STATES Nv"
the practical operation of the bill was to relieve no,
The States but the debtor class Of the S'a'essn1se
cornorotons for turnpkss, railroads, canals ana oa'
Nm, had punsed the States into debt for their Puf
poses It's final operation would be to MI WIN as.a
sye hope all those classes OF society VINO mao
to tax posterity for their extravaganza and Prosay
all these "se,ne, as ssn
MARYLAND MIR Johnson) had brought forward tins D,,i
die first to be acted he cSsss o 1 se Sfsa lie
of the Treasury would not the loan bill be la,
S %a. ap rs,s Would we take up the question Of
The additional revenue which was called Tor oy .le
Secretary of the Treasury And then, alter these
measures for the re of the Treasury had been G's
po.ed Of we could take upany secondary measure 10"
Iowior them Blu, the object in truth, was not 70 re-
eve the Treasury OF the People but TO relieve ana as
sst the great stock interest," which had become oen
years past into debts beyond the resources ,e
immediate abilities of their own people to meet WIN,
an, di(Hcu!ty. And now they ca!l,d upon us-upen
those States and sections that had kept out OF
10 pledge the land of the country the gIea, pn,e no.
r~oll thntF