Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-04-22

di,ure o: more than twepy-s'x millions, BENG e'gh'
more than what proposed by the past Admins'ra-
lt,oo These iogeth have created Il necessity Tor
thirteen millions OF loan
But above acd beyond all this-thc present Admin
str,,,on omitted last advertise and sell the pub
he LANDS in the usual manner alter The 9TH OF Mafch,
and is es$cned he ccirs from them probably quite
,wo ms Ions. 1t rext gave away for this year The
while of Tie receipts iIom that source which, II The
Hand. ware advertised as fully usual, would equal
three millions and thus, TO the lands in both years,
created necessity for loan Of five millions more
All these united make eighteen millions, equal TO
the whole amount embraced IN this and The July loan
bills and million oil Wbal is III NE treasury hote
b.!! Of last January.
The whole case then, lies within the span Of your
hand If we could retrace our steps. and incur
n more expense IN lS4l and lei2 than was conem.
slated by the past Administration, md advertise and
retain the proceeds OF the lands that Administration
proposed, we could al any cause for a
s,nsr dollar Of the present loan, and could redeem ell
o: The twelve millions of July last which has already
been borrowed
say iii, n To- al srch that If the distribution Of The
lands is eve. 10 lie srsp. nGcd rcpcaled tis is The
cep,td tine Ii no. do,e by an amendment 10 this
bali !, M come too late for accomp hng ali lis natu
raj benefits, and will leave yonr pubc credit I" be
blown unon blasted and SUNK To the INJURY OF the
States separately, well as collectively, than Tie value
Of oil these lands 10 the end o time
! WHY do / say tins Not for defamation, Sir, but
from solemn conviction that if without that snspen
sion or repeal, and without re,renchmcnt as well IS
without he previous imposition OF dollar ot new tax
of any kind, OR in any way you 90 nov INTO lie mar
ket with the provisions OF tbs b to sell the stock at
any sacrifice and for period Of twenty years, your
conduct VIII lead 10 tie loss Of more than three mi
lions of dollars tins loan alone II will also be hung
up 10 Reproductions, not ony by those who are now !"
suffer as the interest from such npr"vidence, hut by
succeed generation, who To suffer stiil more as
10 the principal, by rctundng Millions which neither
they The Gov, rnment ever received
| But why dwell longer on ana!ogics' Where are our
own bond, scrip issued IN July LAST Where are our
own Treasury notes issued since January last: De.
n,rciaeG-hawhe about al discount, protested md
refused for payment by every public claimant who mas
any prospect Of obtaining any thing better In tiis
dep!nrlbie condition are urged to pass lhis bi
spccdliy 10 remedy tie evl md yet sending tins
sew scrip into the market without raising frs, dollar
of more revenue in any shape, OF tarh or taxes, To
meet the interest OF taxing oacN
The proceeds of the lands 10 assist IN THIS essential gu
lty- ithout material retrcnchment oil any knd-wih
seventeen millions Of permanent debt mus nulhnf'zeo
and the certainty Of five more before we adJ'urn
# the present policy Is persisted u-and IN fine, with
an increase accruing, Tagging lar beEind our Dur
dens aud equal 10 contemplated expense lHlo
about ten millions year.
II is true that this bull does VIA, tic bill of last July
did not. BY making pledge o! tae customs generally
10 Is loan, and thus recognizing the utility al
some kind of pledges. Bat the misfortune III his H.
! /, pledges nothing ncw-nothing additional nothing
which did not exist, and would not exist, 10 be applied
Ia the debt, perhaps faithfully without the pledge az
With H. taoush not with Ike assurance aud certainty
as regards the creditor. But the pledge of the lands
contained in this amendment, woud, On the contrary
he three TO four millions year Of nae means, new re-
vene, ahsitylnraD TOO, IN our own possession
and coa,.o!, ard contingent unceria Ike loan
means also, voluntary, and not exlned by taxes, and
hence doubtful, and often dehycd-nenns coming IN
weekly and monthly, as wanted, and wh' re wanted
means which have always used from the foundation
Of the Government, and The parting with which last
Sumner under all the circumstances of the case, has
been Of the fatal slabs our credit, our imam
ca character and national honor, which 1t was IN hu-
/ laan power 10 inlet
Bnt itwou,d be infinitely more useful in other views,
connected with this loan repeal the distribution, not
merely 10 il pledge, but so as to add three or
forr m lions more certain and permanent rcome
50 az n reduce the necessity O: 80 large loan, no less
t5nu the fculiy and sacrifices in eiiecting IT. and
as 10 increase our ability, and of course our credit, To
ike extent meet all our public engagements whe
Their OF debts otherwise.
Lei us look moment at these objects separately.
/ / With those considering an actual pledge, either
conducive 10 success or success on better TERMS the
land. present n large and valuable auxiliary
The House of Representatives. have, By this bill,
shown their confidence IN 4 pledge BY including the
cus,ors ii they he cnstoms) are useful So would be
In. lndsI: they will help TO reduce the interes, on
the discount 90 will the lands The President also,
has recommended suspension or repeal evidently 10
ard the loan by pledge well as FOR other purposes
Our past history Is also full OF evidence that n
pledge Of these very nnds has been deemed usetui IN
secnrin. loans. They pledged in the very first
funding and loan bl under the Constitution as has
been often stated before this session But than
this they renamed pledged TIL the Revolutionary debt
was ex,inmI.rd late as ic!5. This - the reason
why the pledge al them was nat repeated during the
late war, While old taxes, new taxes, and the SINKING
fund were all pie dged over and over again The lands
had been already drvated and consecraied to pay a
par, of the prize OF our liberties But We, like Ame-
rcans and houcs men, gave every thing else as security
for our pubic ia In the second great struggle with
our ancien, o2pressors and molly have We redeemed
those promises The security not confined, as the
Chairman supposed, (Mr. Evans) to stipulation to
raise more taxes, bat II vas ezien'se 10 the whole
ainkinr slnd oil eight millions, and new taxes raised,
direct and internal The whole dedicated to this
sacred Object. They went so far as TO engage, not
even after peace repeal the later, unless substilnt
ing someth u- else as valuable Seciion 5, Of act IF
Dec. %, Isl
Such this, pursued in 1879 and lsi4, IN
stead of beng degrading, dcrega'nry CT Illuminating
was on the contrary, honest, truthful, maniy honora
he e.. debtor-imer,can III duty and Angin.Sax"n IN
feeling Remember, that we a'c asking iaYors, not
conftrrinr them- dependent on our creditors fer mo-
ner and indu ence lar snud It e from ns tn VI treat
or ,r,l with, or leave them insecure. England Away
nledrad new taxes for her loans TILL as gentlemen
have explained they could from the of her debt,
he Of no avail Such pledge secured the very debt
u which the Bank al Eas land itself rested IN It's orr
nin And when Governments are dscredlted IN the
stock market, and become bcggars for lonns they must
not assume piiy port and BE- caoosers of their terms,
bur give usual security and usual certainty, i Expect
ur success within any reasonable sacrifice To be sure
VIC are not by internal dissensons so much as
SPAIN notwithstanding what is concurriDg IN one Of
Tie States (;hodc lsland} in struggle for popular
gh,s Jet in condition Of great pccuniary dis
credit ana must axpec, to be asked for ample security
SPAN has had 10 place tn Roiscds in the receipt oil
The income Of her quicksilver Names lof their security
} Even the revenues of Cuba have been talked oil
pledge placed under the control of some third power
for the safety 81 still further loans. And is it un-
worthy fer US to pledge our own lands, won by the
vaor of our forcaiers aud pl,cged by their honesty
and fidelity their obligations, and which, parted with
instead of pledged during the last haifyear, have been
fruitful source Of all our present Peeuniary woes