The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-02-20
SPEECH OF
THE HON. JAMES GARLAND,
ON THE TREA SIrRy NOTE mr.


on, on Thursday The AN dayef february, 1871.
Mi. GARLAND said, l did not intend, Mr.. Chair
man, when this bill first came up for consideration TO
have participated in the debate Nothing was farther
from my thoughts my wishes and but for the range
OF the debate, and the many topics Of an important
character which have been brought into il, should
now De content TO give silent vote. was extremely
anxious rom the beginning of the session, To act
ther than speak, 20 10 dispose of the
OF business under which your table groans but things
havefaken different course, and am forced by exist
ing circumstances 10 exhaust small portion Of the
valuable time Of this House
lextremely regret that such an immencs range Of
debate should have been taken, upon a question 50
simple, and SO many topics discussed irrelevant 10 il
u Is bad practice, and will il persisedin ultimately
urive from our legislation every subject Of mpor
tant and interesting character. Ii win convert our
Hall into an arena OF political gladiation in which the
making Of President will be the principal business
10th neglect of all other Il is not my purpose on the
present occasion to follow gentlemen in their errptic
and discursiye course do not design fphtinr over
again the late Presidential campaign nor do design
enquiring into the fact whether the million and quar-
ter Of American reemen who by their SURFACES have
elevated William Henry Harrison to tho PIesiden-
cy OF these United States were seduced into his sun,
port by the contemplate pageanry Of Log Cabins,
hard cider and coon skins, whether the more than
million who cast their sufragcs upon Mr. Van Buren,
were actuated By base and unworthy motives these
examinations and recrininaons but little respect
pie, and are altogether unworthy of their representa-
tives. The part which acted in that great struggle
and the reasons upon which i founded, are well
known TO my constituents and TO the country and
shall not here repeat them. They were sufficient br
me, and have no regret TO express for anything
said OF did In voting for Gen Harrison | did not
commit myself to an unqualified support of his admin
istration; nor shall My purpose is 10 Judge his ad-
minlstraon according to its acts approving where
can and condemning where must The standards b,
which shall iuJpe him ha tnt,n -
country, the fundamental principles of Republican
Government, and the success Of his measures. This
is the only adhesion which can give to General Har
rison, or any other Administration
The question Immediately before the Committee H.
shall the enacting clause OF the bill be stricken out
shall vote against that notion and finally for the pas
sage of the bill shall vote for the passage of the bill
not because approve IT, prefer that system to any
other for supplying the wants of the Treasury vote
for it because the friends OF this Administration who
having in their hands the Of ascertaining the
true condition of the Treasury have been called upon
TO supply the necessary fo the operation If Gov
eminent for the current year, and have offered this
amount and in this form. We have made the call and
must accept what they offer us If the means
whchthey supply are Inadequate they are responsible
to the Country for the consequences; if not there
will be no cause OF complaint.
In order to determine the propriey of issuing the
Treasury notes proposed by the BILL the first inquiry
is will the ordinary sources of revenue supply the
demands upon the Treasury for the current year 1t
TO be admitted on all hands that it will not and
the only inquiry seems to be, will the So 600 900 pro
posed by this bill to be issued and re-isued for the
year, be sufficient to supply the defciency2 think
not and this opinion is founded upon the most deli
berate investigation Of the estimates of the Secretary
of the Treasury He estimates the receipts from Gus
toms at Sl9,OO0,000; from lands at $3 500 600 from
debtor banks, 1920 600 and from all other sources
$4,000 To this may be added the estimated balances
in the Treasury on the first of January last, ST.
$50, 1855; making the whole estimated means Of the
Treasury for the year 1871, ss24 $50 S55.
Even if the estimates of the Treasury Department
should be realized, do not believe that the means Of
the Government will be adequate to the demands OF
the year But is there any reasonable hope that this
estimate Will be r-alineda II judge Of th ProJae
ton of the of for the last year
and make even liberal allowance fol the increase of
these sources, do how the estimates of the
Treasury Department are 10 be realized,
The receipts from all these for the last year.
except the banks, estimating the fourth quarter were
$lTi97, 163 Oh, which makes the estimates of this
year the receipts of last rs 52 246 49, including
tie bank debts Is there any reasonable prospect that
the receipts from customs and public lands during the
present year will exceed those Of the last by large
amount? am decidedly of opinion judging from
the ordinary operations Of trade and the condition of
the country, they will not. The Secretary estimates
the expenses of the current year at 1913 500 200
follows
Ordinary expenses, $l9 $50 900
Funded debt account Of the District
of Columbia, 5000
Redemption Of Treasury notes, 100000
500, 500 900
According to these estimates, the receipts will be
$1Sl $50 than the expenditures But are these
estimates to be relied upon Does any gentleman
suppose that the ordinary expenditures OF the Govern
can, during the present year, be reduced to 49,
25O,0OO2 | humbly think not | think they will be
little less than S25 900, 00O-for sources
Of expenditure have been opened than dried up Last
AZ.
nary expenditures nj 1890 600 when they in fact
reached 22 is9 3i9 difference, "a 20s 749 more than
the estimate Under these circumstances, ! am de-
cidedly Of opinion that the five millions proposed by
the bill will not only be necessary but will scarcely
he adequate to meet the necessary expenditures Of
the year but az the Committee of Ways and Means
that reported the BILL believe that the provision is ade
quate and the dominant party in this House propose
It, will take il upon their responsibility.
While vote for this bill MIR. Chairman, | must
confess that do ii with great reluctance. do not
approve Of this mode of raising means. 1t is system
so easily abused and frough with such mlschievous
consequences when abused, that am anxious to see
il discontinued entirely. 1t is true that have hereto
fore voted for three bills of like character but always
did SO under the strong repeatedly made by
the Secretary Of the Treasury and the Committee of
WAYS and Means that these issues were anly intended
anticipate for short time the resources OF the Urea
sury, and that more applications would be made
These have been as repeatedly violated as
they were given and now to be violated again.
infinitely prefer direct TO this indirect and DANCE
rous mode Of making loan and but for the fact that
the friends Of the Administration ale majority here,
and preferrng this mode would not likely adopt any
other would vote against this bill. The Treasury
must be supplied in way, and see no prospect
in any other shall therefore vote for it upon the
entire responsibility of its friends, as TO ITS mode and
adequacy In making my estimate for the receipts
and expenditures of the year. | have discarded all
Treasury notes because TO the extent that they
operate they operate charges; and there
fore balance each other.
These MIR Chairman all the remarks have to
make directly upon the bill now before the committees
but as gentlemen have introduced without due regard,
nust aav IN the business of the House other inte