Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-01-20

ous poous The committee said to the Secretary, ta
they would give him loan if it could BE- obtained
On this, the Secretary asked the committee for Irea
sury notes, and young member OF the House hau
this morning informed them that the committee were
very pernacous that point; that they told tue Be-
cretary that they could not consent 10 let HIM have lrea
sury notes unless lie should furnish them with some
very peculiar Something he thought had been
said, day two since, about certain detects IN the
chronology of this correspondence lu he was Inclined
10 believe that If closely examined, more radical
defects would be found than those OF chronology
The first letter referred 10 previous conversations 50
that Il seemed the dlstng unctionaries had been
chatting the sub jcct, and the Secretary acknow-
hedges that he had given the committee those "pe-
cu!isr reasons which they had demanded oil INN, ont
tells them that he would give them very peculiar
indeed why they must swallow the bitter morsel
which he had prepared for them.
At length the Secretary reached his vaedctory and
here that officer who, as Mr. l. believed, was Tue au-
thor of the famous Excheqrer report for lie was man
OF distinguished talents, and capable OF writing any
thing, became wrought up 10 very iervent pitch, and
informed the committee that, 10 the obtaining OF
loan his information not only "cecisive, but en-
,rely decisive, aud that that thing not only "hope-
less" but "quite hopeless" A laugh
And here might be noticed that, in his first letter,
lie said to the chairman, 81 send you bull Now,
MIR. |. did not know exactly whether TINS was qnle
usual lie had been in the habit of sIpposng that bills
draughed in the committees which reported them,
although there might have been previous conversations
with the heads OF the Departments. BE this as 1t
draughted to their hand, and, be it observed, that u
bill for the reissue Of Treasury notes. And II
not till three four days after that the Secretary
suggested the proprety of Withdrawing the proviso
about reissue, and authorizing an issue of Treasury
notes thereby making him grant of five millions
for the Reissue Of former notes, and the issue Of
notes two entirely different affairs Mr.. l..
sad that he did regard these Transactions with sus'
pcion for he had entire confidence IN the Secretary
and entertained great respect for the chairman, but he
whole
displeasure especially account The Secretary
oftbe Treasury had long been citizen OF Pennsylvania,
and in prosecuting his Inquiries for II loan IN New
York and Boston, how happened 1t that he came To
Jump over Philadelphia
MIR. /. perfectly well knew, and could now name on
his fingers several men in Philadelphia, who would
have been very wiling good security, to advance
the Secretary any cum he wanted. Here MIR. L. made
some aluson not perfectly heard by the Reporter, TO
the practice which had formerly prevailed, of always
applying TO brokers when loan was wanted, and to
the vigor and decision which Mr. Dallas had exhibited
IN rejecting that practice Had this loan been opened
us Albert Gnatin would have opened it, aud the whole
community had been called on TO subscribe, on good
security, Mr.. |. could name one Of his county who
would have gladly put down million or two millions
There IN Lancaster county, men IN old Berks,
and men in the Secretary's native county, besides
the capitalists Of Philadelphia who would promptly
have come forward The Secretary could have got the
money in his private capacity, had Walter onward pre-
scented himself in his private character, with good
curitv in his hand Mr.. |. would himself have under
taken, without any charge, 10 procure him the sum he
asked, or any other sum. There was no scarcity of
money. The money abundant; bu. there one
place where there always great scarcity and that
was in the brokers' shops. Their language was pro-
verbal. Tie Jew broker, in play or IN romance,
always told the prolgae young heir that 'monish was
very scarce" But let an officer of the Government
forward not to the brokers, but TO the commune
~ and he would find that this country not bank
rup that nothing wanting but confidence. Let
good security be provided and Government could get
much money as II would ask.
Mr.. had been told by late President Of the U. S.,
that in the pamy days OF our prosperity, when money
flowing into Treasury in spring tide, he had
received Communications from England offering him
any that could be asked interest Of two per
ce. on the single provsa that the loan should have fifty
wears run. Sucl the confidence they then had
ia this country. Here deep signs heard in
lite HALL Nor this surprising; for il was well
ascerained fact tina, the great English propretors,
wealthy noblemen like the Duke OF Bedford, and the
Duke Of Bcccleuch, realized on average from their
immense estates interest Of not more than and
half per cent. So it in France, Holland, aud Bel
gum Not the least difficulty would be experienced
obtaining money, provided good security was offered
" itnout this all attempts must be VAN.
Mr.. /. therefore, must conscicn,ously declare that
unless security should be- provided Ivy law, he could
vote no bill either for loan Treasury notes. With
this they would bat operate IN practice 10 tempt,
deceive, and deiraud the public creditor, to under
mine the public credit, to oonvulse and endanger the
country, and to PROSTATE its honor. 1T would be TO
commence on the part al this Government that dsas.
rrons career which had been run by many vi the
States of this Conrdesacy. He had SAID that chaos
come again. and he not sorry gentle
men seemed to be. Our danger was but SKIN deep
We had only 10 look steadily in the face, and it would
vanish like morning mist. Alr. |. admitted that he
not as devout he ought 10 be- but he aalst and
he could doubt considering the long cherished and
nveterae attachment OF this people to banks and tan
ced curences, and counterfeit ccn;rIvances OF every
description in relation 20 circulating medium, that H.
Ind Ion t,a aun unS
indispensable TO eiccual lie could not view
but providential inlerpos,tion 10 the coun
try The rod was necessary, and we had II with 4
vengeance. The people had been writing under 1t
long, and now al length the Government, too, began
10 feel. lie would, however, refrain from any and
every allusion that could BY possibility call mp party
feeling.
A highly respectable young friend Of his, member
from Kentucky, MIR. Marshall had alluded IN recent
speech 10 chain oil causa,ion His language on tina.
occasion not hard 10 understand and although Mr.
was Of his inequality with that gentleman,
when proper day should come, he would be rea-
d. 10 meet HIM that question Of causat.on, and
was prepared TO show that from 1880 10 the
present, hour, our monetary system had been a
series o. Jerks, experiments, and contrivances,
which had ended as those things always did aud
must end We might wink hard pleased
ut facts which were undcnabe, but the result had
come. Ii was upon us, upon BANKS upon our
States, and now upon the General Government itself
The suffering general, was universal; hut he be
leved that the day of redemption had come, II not Of
complete redemption, at least of modified and partial
redemption Or f the day were not yet fully come, i
was AT hand, the DOORS and the present one oc
casion which the Committee of Ways and Means might
have embraced TO commence the work OF orr deliver
ance. And now, before he closed, might he be par
honed in alluson to the present Administration
seemed have put itself upon the country, and not
upon any party or on any portion OF that House -
The experiment, he admitted, was bold, and no"
alone could it succeed By bold measures. He die
no, say by vetoes, but he mean, by informing tho
country fully Of all its difficulties, and by proposing
the proper expedients 10 relieve them-not by sucI
correspondence and such bill this, which al
must 10 be but mere temporary expedent.-
Did any gentleman doubt that that House woule
be called on for five six millions more beior,
the present session over Had not the ycr,
las, act of highly talented and distinguished gen