The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-12

againt he that VIII their pee Altar friends
obtained the floor, they could adjourn at half past enc
but iiid not require jors nent five minutes
.ne, 70 answer the slang viuperation against the
taunted W amounting TO but corporals guard as
being capable of LONG they be held
,sssPonsloie ior dong nothing The gentleman from
Mary land then asked would the President leave the gal
liant wing fga,e with her sails and her coors n.y.
ing, and embark in the little cockboa of the gentleman
rom Indiana. Now he (Mr. ProfiO knew the Presi-
dent and he knew that he would leave any ship of any
party, matter how gallant her array and trust him.
He denied the had dry or ss
reotly made any overture either directly indirectly
to any party or faction.
Mr.. CooPER-He did not pop the question.
Mr.. PRorrIr-If he had a question to pop, he would
pop as he popped the Veto There sneaking
Of back windows laughter letting the ten days pass
sponsbility He thought the proper course OF debating
this question: would be to ascertain whether the means
were wanted for the treasury and then whether they
could conscsntiousy vote them in the form presented
and not to ing great national questions with
Mr.. T. MARSHALL said he had great aversion to be
dragged into this treasury note policy and he had risen
to ask the Chairman OF the Committee Of Ways and
Means whether he had any knowledge Of his own, in
dependent of the letter of the Secretary Of the Treasury
which induced him to believe that the loan authorized
at the last session not negotiable in the domestic
market He had not risen to provoke the wrath OF the
Executives of his organs that floor or to pre-
woke .hs PRESIDENT to pop against that house but ns
Of laughter] He did not recognize nor did he
think the President was willing to recognize, cabal
aud er o6sio his Cabinet councillors. This had been
pudiaed at the extra session in tones of thunder which
had scarcely yet ceased their He had
risen ask the Chairman Of the Ways and Means to
state he had any information Of his independent
OF the letter Of the Secretary which led him believe
that there was no practcaby of negotiating the re-
mainder Of the loan in the domestic market. e~a>-
Mr. FLLMo.E said that in addition to the letter fthe
Secretary Of the Treasury, he had been permitted to
anime the original correspondence on which it was
based, and he was convinced that there
BILE probability if even there was possibility OF obtain.
ing money on that lean If il extended for
twelve years short of application to foreign market
In addition to this, Of his colleagues the commit
tee who skeptical than he this poiRt,
had addressed letter to Of the principal houses in
New York, and he would send the TO that letter
to the Chair to be read for the information of the
mtee.
letter from Messrs. Prime, Ward and King read,
stating that government loan could not be negotiated
at less than cent interest," and that $4,000 Of the
cent loan had been sold the date Of the letter 95
cents en- the dollar.
Mr. FILLMORE said the representative from the city Of
Boston had recev ed letter from the Hon. Abbott Law
renee, with substantially similar statement.
Mr. MARsALL said, then they were informed by Prime,
Ward and King that loan could not be negotiated at
less than per cent and it be had for that and
this state Of facts they asked issue Treasury
notes and did any one suppose that they would circulate
at less interest No supposed that Treasury notes
could be circulated by orcibe process and shave the
public creditors Of one cent This might be very
neat financial operation, but it involved more than
question Of policy inv olved the national honor For
he would resort to direct taxation than
system detesable. Nothing would infict deadly
blow at the credit Of the nation, and he thought there
might as well be clause introduced into the bankrupt
law, to include the general government within its pro-
visions resulted, then, that nothing could be saved
by issuing treasury notes. except we intended to shave
the public creditor of the difference and for himself
he preferred that the government should raise the
it wanted on loan, even though it should cost
per cent.
Mr.. UNprpwoop obtained the fosr upon whose motion
the Committee rose, and the House adjourned.