Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-03-23
by which the oovsrem,n, stock nigh, be sold 70,

by which the Government stock nigh, be sold foe
what Il would bring. Se.)
And what said another letter. from another high
oueer OF the Govefnment. located at the CONNER
cal emporium Of he eOun,ry-he reIered TO The
Collector OF the Ctfsioms at New York;
ldere Mr. Fillmore read letter from MIR Cur
Us, In which that gentleman, amer expressing his
hope that Congress would authorize new loan
without delay, observed that IL the certificate, were
rsIleted 10 be sod At par only, the Governmen,
would fail in obtaining relief; but IL they were al
lowed to be sold under par, the Government would
get the par value. II restricted TO par though the
loan should be made tredeemable Tor fifteen years.
the law would be practically dead letter, and OF
no avail In this he spoke the opinion of intelligent
and d'sinteres,ed men on the spoil
There was the lansu Of the official functionary
OF the Government, On which the Committee of
ways and Means had based its action. III there
was deadly blow at the credit OF the Government.
who struck III Did the Committee OF Ways and
Means Tor was il the cherished organs of the Al
m'n's'tationl MIR +. could no, conceive what was
The object Of the attacks which of late hsd almost
deily proceeded fcom those said to lie the peculiar
friends OF the President. So frequent had thew
oeen IN that quarter that he was almost induced TO
believe that there was deadly game playirg on
that hoor TO kill OF the political nartes her.
u no', why this continual opposition from those
gentlemen TO all measures brought forward for the
puonc serv'eef Why did the party press through
OUT the country, under the control OF the Adrainis
ratlon pour out the walls Of its wrath upon the ms,
Jority OF this House for neglect and DELAY of the
pubic business, without the least notice OF the oh
staees and interruptions continually thrown in by
the fresidenrs peculiar friends here, who did NOR,
TO retard and distract the course of The ,,,LI. -,
ness than both the other parties put tore,ber7 I,
was high time that gentlemen of both the cre., IA,
tes IN the House should look to this, that thew
SUI aSe warn'ns from the course of these pecu-
liar friends OF tho Administration He had rad
sohetrirs OF the communications the Commi,tec of
ways aud Means had received: hut thrv had no,
suo'..eh 20 lhe iu'i extent 10 all tho measures re
so.n,nnue1 70 them. The Administration had
recommended that the Government stock sbouId
&c publicly set uD and sold at auction: and the
SVGeuFy OF the Treasury had suggested that he he
cio'heu with unlimited power TO dispose of IL in
ne oest way he could. But the Committee had
lnoucht II proper 10 guard the Treasury nv pro .
vuns that, before any sacrifice was made nj pr;r..
oeiow par, n reasonable time should be allowed n nd
PuoHe hohce gwen, so that there might be n fair
~ .oI competition, and that the ndministraI ton
msh not have the opportunity OF selecting its own
peculiar iavores and throwing the sales into their
hahuS lhey had refused 10 allow the stock TO be
pu' Up ~ auction, where combinations might be
ee'eu INTO 70 dcrress the p.ice. They had gone ms
a' aS 1leE conSclentiousY could in complyinr with
inc recommendations OF the DEPARTMENT. and 4 thev
had, m the opinion of the gentleman some too G,r
oiu !. ne IN tho mouth OF the friends par ereelleuee
VI I"'s 3hunnlStrauon TO hunt the committee with
having done too much IN their zeal TO sustain lis
creulH What said the letter of tho Col;ec,o, ?
nat power must be provided TO sell the stock he.
low par, or II would not be sold at all n this yycr.
game OF Drag, then, indeed, the high sounding de.
huhciatlons OF the gentleman from Virginia misht
have some effect; but il was question Of fn,nre-
a question At which self interest would look resard
less o. oil sympathy with this or any other admins
uhIon' What induced the belief that possibly the
SOCK could not be sold at par thoueb runnin, f,r
twelve years1 The fact that we had now IN tho M
het STOCK bearing the rate OF interest and rum
hins ior three yeats only, and not thousand dollars
worth oi Il could be Sold There was a Iact-a main
and stubborn iact-ncanst all the lofty nssurnp,;ons
rerfpi,I al, IL, -
securities OF seventeen millions Of Pcople woud M,
command their par value. IND he would give the
gentleman another: we had Treasury notes in mar
caring ah interest OF SIX per cent, and payable
al the end Of single year, and receivable NJ ali Gus
tom houses and land offices throughout the limited
StA'es' and yet ho had been told that this dev in
ms ei'y OF Washington, they were at diseount
OF Two per cent; and he had received official infor.
nation IN letter received this morning that ten
Gays since, IN the city OF New York the sno, Of
al DINERS where there was the greatest demand 10,
'hem, because there so large portion of the reveru.
VS. pa'u 'hey were at discount OF one and of one
a"u quartet per cent. and not only So but th-t IL
umeniate relief was not obiainel the price ustsnk
sun ower. Yet, IN the face Of facts like ,b,se Tho
hOuse was told by The gentleman from, Vireini,
lnat ~ was only necessary declare that the bonds
no' DC sold below par, and this wsu ID compel
capitalists 10 take them at par: and whoever did
not subscribe 10 this opinion and act upon IL was
aiming deadly stab at the very yitals of the Go
vernment! We had tried one loan bill and Lod
'S"eu 10 E2lce which cOunselled the HouS- Ia
consult public opinion and reduce the tern, il had
70 run TO three years, and to raise the interest from
ve 70 SIX per cent and what was the conssauenee7
ne measure turned out an abortion Ard now |
II Ihs 0ilI also should prove an abortion, MIR F.
"asned the Administration and the couatry that !,
had hrst been attacked by the peculiar friends of
mat ADMINISTRATION, and that 1t was lost in conse
quenee. Let them charge the sas,rous conse
qGences which must follow-be they what thew |
might, both to the Administration Itself and 10 he
country at iarse-on the heads OF those who pro
lessed themselves TO be the peculiar friends of the
Mr. r. observed that, having said all that was
necessary on this matter he should defer for the pre-
sent any remarks he had to offer on the general
subject OF this loan until the prelimnaries OF The
measure should have been agreed on. If,he House
should refuse to adopt the BILL on the heads of the
hdm1istraiion itself and its peculiar friends in
81 w tioa'e os ne consequences. The Committee
OF ways and Means had done all thew deemed 10
be due TO the country. They were nor conc ~ |
,h themselves between the Administration and
, .I n~IuI gun which was yawning beneath il.
while those who called themselves its psculi,r frisr,
were playing the demagogue on that floor.