Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-04-01
IN SENATE.
Ihnrs8dY, .Harrh -, 1879

M!' IkESION rose and sad he desired 10 oter
resolution which he believed of somewhat move
cnaIdcer anu lie WAS therefore net enii!uiy certain
The ground which he was ,reading viii, regard to il
he would propose that il lay over for consideration IN
III 'o-merFow, and IN lie tic that tie attention
OF me Senate should be Directed 10 the subject. II
would refrain from entering the discussion al pre-
SENT further than merely 10 state that the object of III
resolution was TO produce declaration of tie opinlo
OF The Senate in regard 10 the present condition OF
finances and our credit. He had been lately muc
confined by illness, and prevented from attendance il
ms pace IN the Senate, that he hardly knew wha
might be The general feeling and sentiment upon il
SUBJECT OF the disastrous condition of the finances
the Government and the disgrace which lis credit ha
suffered; but as for himself, he must be permitted t
say al his mind had been oppressed by the account
which had been brought under his notice, of Tue Ia
n'entabie Stale of ti.e affairs of this country.
lie did not offer ih!s resolution for the purpose
making an exposure for political effect, Tor Cod knows
he would sooner walk backward and riously cover III
make dncss Of our beloved country His desire was tba
possible, The other branch OF the Legislature soul,
le stimulated to some action, which might tend 10
cue the country from the disgaccu d'sionorabe and
ptiahle condition IN winch she is al present placed.
lie did not propose 10 investigate, at present, tho
means by winch she had been brought TO that condition
nor 10 npnte 10 any party or To any particular policy
tIe evils he complained Of: for his mind was I'M
pressed with their caamI;ous condition TO leave M
pom for bitterness reproach. He aware Of the
nposslbhty uI the Senate doing any thing III the mat
tr-he was aware Of the restrictions under which they
ab0red well as the courtesy which was due To ano
ther coordinate branch of the Government; but h,
thought that III the present rTency, this state
.hngs which had net yer been paralieed in his
DRY, in the history a the world ITSELF except undc
circumstances Of war and revolution, they should a
east show 10 the nation that they not altogether
egardless OF her interest and her honor, and il poss
Ie to stimulate action in quarter where action woult
10 OF service. When the resolution came up for dis
;usson, he would offer additional remarks, in
gard to the multiplied calamities under which the coun
try a5ors. a, present he would merely add, that hi:
lea was grieyei, ms feelings subdued, by tie pros
Eect OF those palpab!e and und:guSed mscries,
tlan by any circumstance which had engaged his
thoughts since he first took part IN political affairs and
he thought the which should be taken by every
patriotic mente. OF that body equally plain and pal
Jablc.
Mr.. r concluded by Offering he following -esou
ION
Resolred That the actual condition of the credit ana
finances OF the country require the most prompt and
decisive legislation the part Of Congress, and to this
end that loan should be authorised for amount su
icen; for the present exigency, and on terms which
will ensure It's
The resolution laid on the table and ordered 10 be
printed
INFRINGEMENT AND REFORM
The SPECIAL order then announced, being the re-
solutions of Nj. Clay, nc.
MIR RiNES said he had stated to the Senate, some
DAYS ago, that he desired at the proper time to oI.r
some amendments to the Resolutions of the Honorable
Senator from Kentucky (hlr Clay) As they were IN
tended a substitute for portion OF those Recon
tons, he presumed it would not be in order TO oier
them while the amendments already submitted BY The
Senator from New York (hlr. Wright) we're yet IN
disposed Of He wished, however, to put the Senate
in possess of them at this time, that they might be
printed, and opportunity he afforded 10 Senators to
consider them, before the final action upon the subject
of the Resolutions generally. lie begged leave, in
presenting them, 10 state very briefly, The views and
considerations which had determined him 10 ofel
them.
fully participate, (said Mr.. Riyes0 in the feelings
of deep mort lcation and humiliation which have beer
so properly and orcb!y expressed by the honorable Sc
from South Carnlnu, (Alr. Preston,) tins morn
lns the present dcporabe condition of the finances
and public credit OF this great nation The evil de
mands an immediate and practical remedy. The pain
full developments which have been occurring from day
10 day, have brought my mind 10 the Thorough con
yiction that in the existing condition OF things, nc
ther the essential branches Of the public service can he
carried on, ncr can the public credit be maintained
without the aid, for the present. i'll some form or other
of all the sources of re venue which this Governmen
has been heretofore accustomed. What, Mr. President
is the mortfying situation to which we are reduced
With current revenue hardly equal TO onehalf Of The
current expenditures OF tie Government, we have been
ryen variety OF desperate shifts and expedentS
to meet the daily demands othe public service. Already
since our assembling the Secretary of the Treasury has
been compelled before again and again with
the report OF empty and bankrupt Treasury, showing
quarterly deficits of large amount for each ot the first
two qnarlers Of lie current year. And how have We
been compelled to meet them: by new issue ol Tie
notes of the Government, which, as soon as they wefe
nut out though bearing six per cent interest, nave
been actually sold, learn in the streets OF the Nation
al capital adiscoun of from three 10 four per cent
At the same time, the Treasury notes which had fallen
due have been protested repeated instances, on the
publlc mart for payment, with the view, a5 we are
Told Of recurring to The responsibility of individual en-
dorsers as having become better guarantee Than the
crcdi, of the Government itself! And last though
not least pressing have become the necessities Of the
Government, and precarcns The pubic credit, Thai
We have seen The proposition seriously entertained 10
mt The stock of a new loan into market Tor wlatevet
it Will bring.
Is no, thus. Mr. President, state Of things hnmIliat
;no ia the national pride and does not call upon every
one Jealous Of the honor OF the American name, 10
unite in applying prompt and .ilcacinus remedy:
And al what moment is il permitted 10 exist: In tao
presence or foreign difficulties, which, to say The lea"
appeal 10 every senmen, Of pride and to every primer
nIe of pnrnce 10 be prepared Tor whatever may oe
their possible issue. am aIarmisi and least 81 u w.
IN advocate of war. There is nothing more erveGtly
mpore for my country, and all mankind IMAM e Dress
inos of peace But it would be, humhy concei'e
greatly 10 unGerTaic Inc gravity VI thc io'S'"''9 "
ncndinp between and Of the most pc" erin' ma
lions of the earth and disregard the deep sens'o'y
which we have seen recently awakened elsewhere, a.
we'll as among ourselves, IN relation TO one OF 'e mos
delicate Of these questions, 10 say, that tee Is u"
danger IN t.e future Of interruption OF 'ha peace
which We al, trust alike ANXIOUS TO preserve st
ono MS i, can be DONE consistently with the naiiona
rights and honor. Peace, sincerely hope, will be pre-
served, where there so many motives OF every
kind of feeling and Of interest, Tor It's preservation
Bu,. while uncertainty rests the subject, and at
moment especially when that uncertainty is SO rapid,
hasienng tie crisis of lis final solution, II IS donh
incumbent on us 10 cherish so vital aud important al
element of the national strength as The public credit
he main pillar of the public safety, as was empa
cay called by the great statesman who was hrs' cane
10 preside over the finances Of the nation.
ii is time, them said Mr.. Rives, that we should ad
dress ourselves in all seriousness, 10 the re'es;aes
mcnt of this main pillar Of the public safety on It's oni
true and solid basis-a sure adequate and sacred pro
vision for the discharge of the public debt Our dto
had gone increasing with such sweeping 'r'oc"
that It was difficult TO keep pace with IT. ana 'e"
rs are now able 10 say To what amount !. hau a'ie'