Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-03-19
uo1rsE OF REPRESENTATIVES

Ths rsnort Of the Committee of Elections in the
cose of Mr. Lowell taken up, and the resolution
Win which i, concluded read as follows
Resolred, That the Honorable Joshua A. Lowen IS
entitled to his seat in the present congress as 'eP'e
sentative from The State OF Name.
MIR RANDALL from Maryland addressed The house
briefly in opposition to the report.
Mr. BARTON, after few remarks in reply, moveo
the previous question, which having been seconueo
and the main question ordered IL was put " TIC
and carried in the affirmative
So The robt of Mr. Lowell to his seat was confirmed
by the House ;.,..,,oah v tho Com.
mttee Of Ways and Means to ask the House TO 60 INTO
Committee of the Whole 10 take mp the Loan pii''
Mr. WISE asked the gentleman II 1t was ms Pu, ,
nose that the civil and diplomatic appropriation OH,
should be postponed, till this bill should be disposed
Of He believed it would occupy some considerable
time 10 get through with the Loan Bill
MIR. FILLMORE hoped not lie shouid suppose
that the exipencies of the Government would induce
gentlemen to dispatch this bill IN as little time aS
possible. rvp
some conversation ensued, in which Messrs EVE.
RETT, ATHERTON, FILLMORE, HOPKINS, and
WINTHROP, took part resulting IN motion oy
MIR. FILLMORE to instruct the Committee OF the
Whole 10 lay aside the Appropriation Dill, anu 'aAe W
the Loan bill.
Mr., SMITH of Virginia called for the yeas and
nays, which ordered, and on taking the question:
resulted in yeas llS, nays 3d. There not beng Two
thirds the alIIudlIVe "e'S "SN 49,
ried.
After some other business, MIR. FILLMORE moved
TINT the House resolved itself into Committee oil the
Whole on the state Of the Union, which motion was
carried and Mr.. Briggs of Mass, took The CHAIR and
announced the question before the committee on the
General Appropriation bull
Mr.. FILLMORE then moved that the committee
lay aside the civil and diplomatic appropriation bill tor
purpose of taking up the loan bill
The question was put on laying aside the aPpropr,a
ton BILL and carried and then the next question TO take
nm the loan bill was also carried without DIVISION.
The amendments of the Committee OF ways ana
Means were then read, the first of which was 10 extend
the time for negotiating the loan one year. ana 10 make
it reinbnrsable at any time alter SIX monlhs nolce
uyen by the Secretary of the Treasury, or at perod
not exceeding twelve years, as may De ag'eeu ." .e
Secretary of the Treasury and the person or persons
who NAV subscribe to such loan. The second amend
ment was 10 authorize the Secretary to dispose OF the
stock the highest price he can obtain tor the same'
after reasonable advertisement in the public papers.
Mr. WISE moved TO amend the first amendment, by
striking out twelve and inserting fifteen, so as TO make
the loan rembursabe after fifteen years
Mr. W. observed that he for providing ample
means to meet the exigences of the Government ano
was his opinion that ample means could not be oo
tanned without extending the time Tor the loan. lie
had no doubt that the three years added by his amend
ment would make great difference in favor OF the Co.
vernmen in the terms Of the loan.
Mr. w referred to the original law authorizing the
loan OF 900 900, and said that the failure OF that
lonn was owing TO the slorness of the time for which
it was to be negotiated that, in consequence, 1t was
hawkcd about the streets, and brought the Government
into disgrace.
MIR. GORDON denied that the Government was
brought into dscredt by the failure OF the oan or the
shortness of the time which it was to be negotiated
He asserted in his place. that it the giving away the
proceeds of the public lands that brought the Govern
me mt into dscredt, together with the extraVagant ei
penditures of this economical Administration which
came into power pledge OF economy ana reform.
Cut down. said he your extravaganza expenditures, and
restore the proceeds of the public lands, and it will do
more TO restore the credit Of the Government than IN
creasng the time of the loan or the rate of interest,"
MIR CARUTHERS asked of the Chairman OF the
Committee of Ways and Means, if the committee had
any information with regard the views of the 1rea-
sury Department on the subject. HE was disposed 10
piye sufficient means to the officers of the Government
10 carry on its operation, but he was not prepared to
agree to longer extension OF the loan than was de-
sired by the Treasury Department
Mr. FILLMORE said that the written conlmunlca-
tons from the Department named twelve years, and in
answer to MIR. Wise, said that the Department in its
written communication required at least twelve years
Mr. ROOSEVELT defended the party with which
he acted from the unjust mputatons which had been
cast upon them for remissness in providing the requi
site funds 10 carry on the Government.
Mr. FILLMORE, Mr. WISE, and Mr.. UNDER
WOOD having made explanatory statements,
Mr. cKEON said they had had the loan bill number
twelve years. next proposition to make it fifteen years,
and where was this to stop? What change had come
over the Government the currency of the country, TO
render thi. extension ecessary: When they came TO
secto five, he should propose an amendment pledge
the public lands for the repayment of the oan and
would then be seen that short period good
long one He denied that the failure to negotiate the loan
was attributable the shotness of the term; it might
be traced to the unwise system which had been pur-
sued The stocks of sovereign States had been run
a,rhf mic apdt - una
they had they had the taxing
power besides their natural resources-but because
they had impoverished themselves, and ifths Govern.
ment went on and impoverished tselfby giving away
its reliable sources, it must expect 10 be IN the same
state He was opposed TO the further extension of the
term, as was proposed by the amendment, for the
son that the Secretary of The Treasury only asked for
the shorter period of twelve years, and therefore he
(hlr. McKeon) was unwilling TO give his sanction to
onger period than the Secretary thought sufficient
Messrs PENDLETON and EVERETT spoke at
some length in support of the bill and the general
party question: which was involved in the discussion.
The debate was further continued by Messrs EVE
RETT, ADAMS, NJ. A. COOPER, and w. SMITH,
and then the amendment proposed by Mr.. Wise was
lost but thirty four passing through elers in It's favo
the negative not being taken.
proposition was also rejected to reduce the period
from thirteen three years. verbal amendments
were then made in the bill, and some unlmportant
amendments were rejected
The fourth section was debated by Messrs UNDhh-
WOOD and WISE
proposed egalze the sale Of stock at less than
par after reasonable advertisement of sixty days, If
other terms could not be obtained. Without taking
any question on this section, at four o'clock the COM
mittee rose and reported progress.
A resolution was then adopted on the motion of Mr..
Mckay, calling upon the Secretary ofthe Trensnryto
inform the House if any and what terms had been of
ferrd for the balance Of the loan.
MIR. FILLMORE then presented some letters from
the Secretary OF the Treasury, which ordered to
be printed for the information of the House, and
The House then adjourned
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