Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1842-03-19
Senate Committee Report.
MONDAY, February 81, 1874

MONDAY, February II, 1872.
Mr.. TALLaADGE, from the Select Com
mittee on the Report from the Treasury
and so much of the Presidents Message as
relates to Fiscal Agent, delivered in the
following Report, which he read at the
Clerks table:
The SELECT COMMITTEE, to whom was
referred the Report from the Secretary OF
the Treasury communicating plan OF
Fiscal Agent of the Government" respect
fully REPORT:
That they have given the subject that
consideration which its Importance de-
mands, and now present to the Senate some
of the views which have brought them to
the conclusion to which they have arrived.
The committee do not intend to 60 into
an elaborate argument in favor OF such
measure. The late period at which this
subject was referred to them, and the anx-
iety r the public mind for speedy action
81. II, has left them but little time, amidst
their other pressing engagements, to pre-
pare an extended report. They, therefore,
content themselves with reporting bill to
establish Fiscal Agent of the Government,
accompanied by such remarks upon its
leading features and principles as seem to
be called for by the occasion.
Since the adoption of the Constitution
of Government under which we live, the
country has experienced much financial and
commercial embarrassment. But at no Pc
riod has it been so suddenly precipitated
from an apparently high state of prosper
ity to the lowest point of depression, as at
the present time. The committee will not
attempt an enumeration of the causes which
have led to this disastrous result. But they
take leave to say, that amongst them an in
fated and deranged condition of the cur
rency is the most prominent. There may
be difference of opinion as to hoD this in
fation and disarrangement have been pro-
duced. All, however, will agree, that the
excess in trade and business consequent
upon such state of things is, in some sort
incident to our system of credit; system
which is characteristic feature of our free
institutions. In an attempt to correct
these excuses, the committee would wish
to preserve and regulate, but not destroy
the system ITSELF The efforts which have
heretofore been made TO correct them, have
always encountered one grand obstacle in
the difference of opinion which has pre-
vailed in the community as to the kind o.
corrective, and the manner in which il
should be applied. This has led, in some
instances, to a reorganization, and hostile
array of political parties; and the grea
question of regulating the currency of the
country has formed the issue upon which
for some years past, the most violent polit
ical battles have been fought. Experience
has shown that in such contests the business
of the country must always be deranged
And the greater the sincerity with which
the war is waged, on the one side and the
other, the fiercer will be the conflict, anC
the more disastrous the consequences, a
long as the great matter in differ eace r.
mains unsettled. There can be no peace
no prosperity, until it be settled. Othe
questions upon which political parties di
vide are comparatively harmless. No mat
ter how violent the contest, the business o
the country is not affected by it. Amids
the excitement of the public mind thu
country pursues its onward march to pros
perity and greatness. But the instant tn
question of currency becomes the issue, i
is felt, like an electric shock, from one ex
tremity of the Union to the other.
1t behooves, then, every good and patri
otto citizen to lend his aid in the settlement
of this question. His inquiry should bt
not what ought to be done, but what can b
donel He should be prepared to surrende
his individual opinions, if necessary, in OIL
der that some system may be adopted whic
shall promise stability and permanency
relation to this all absorbing subject. TIL
distresses of the country are beyond niue
further endurance. The People through
out the extent of this broad land cry alou
for relief. Thousands and thousands {
our fellow-citizens have been Frustrated b
the calamities of the times which hav
over:aken them They have been suddenl
reduced from affluence to want. The
property, which, under ordinary circun
stances, would have been ample to meet a
engagements and leave competency
themselves and families, has been most cr'
ely sacrificed. Others, who have survive
the fearful wreck of the hopes of tho'
sands, are still suffering by disordere
currency, and the unregulated exchang
between distant points. The one ella
looks to the settlement of this question
means of once more engaging in su