Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-05-10
UNDERESTIMATE CoNGREss--2d Session
SPEECH OF NIK WILLIAM SMITH, OF yIKolslA,

| ON TIE LOaN Bll'iL
Delirered in the House of Representatives. March %.
[CoScLuDED.l
| have stated, Mr.. Chairman that Mr.. Van Buren,
reduced the expenditures from S3l 100000 in the year
1887, TO $2 1856 in 1910. Under the operation OF
the causes before stated, and especially the Compro-
mise act, The revenues rapidly sinking and the
severest economy for 1S4l indispensable duty,
rs Tor no other reason prevent the current e1pend
lures from exceeding the current resources ofthe conn
try Accordingly, the estimates submitted for the SER
vice oil The year le4l, by Mr.. Van Buren,, were &c.
62i,52n Ent Tie actual appropriations made by Con-
.ress $S3:l ,I97.
These appropriations were made with nm eye 10 the
striccs economy, rendered ndispe by the shrink
ing means OF the Treasury. The means however, to
meet them, were considered sufficient leaving on hand
il cash, the Of 1891 1913 the 3lst Of December
1871. These Official results, turned by experienced
statesmen pregnant with admonition, we're how.
ever unheeded by their successors. Flushed with
cess-madly drunk with power-conscous that the
public income, with all proper economy, would barely
preserve The public faith nviolate, the Wings,
sumng the rens Of power, instantly enlarged expend
ture The average OF the two months preceding the
9TH March, 1871, first deducng Treasury notes. as is
the in all the calculations, and averaging the pen
sion- which paid 10 the agents previous TO the 18th
Of March, the enormous monthly sum of S539,699.
The actual expenditure for 1S4l, exclu.
sve of Treasury notes sa6,39G, o9G
Deduct expenditures from LIST January,
ISL 10 the 4h March, 1871 exclusive
oil treasury notes, anu alter averaging
pension payments $500, 900
Expenditures for Ten months 500 SOC, $50
Monthly average s2,sS0,G95
1871 10000
Monthly excess after Ist March, 1911 $685., 600
No wonder that the Wings ordered Extra Session
for the allie ged purpose providing the and MEANS
which their predecessors had failed to supply For suc!
prodigali,y this, certainly provision made
By this means the Wings created the necessity for an
Extra Session; and then sought to throw the blame
upon The Republicans. "Oh, shame, where is thy
blusi.'
But when the Extra Session came, did the Wings
arrest the expenditure which had been commenced by
Harrison and continued by his chosen Cabinet? No,
Sir new appropriations made, and new expen-
dIIures authorized. This done, too, with a know
ledge that there would be deficit, according to the
Treasurers report at the end Of the year, of upwards
nj SIX millions. And according TO the statements oil
the honorable Chairman of the Committee of Ways
and Means. mir. Fillmore, permanent and annual
one of $74oe,O 900. 1t was plain as the sun in Hea
bright aud coudess sky, that the revenues were
unable 10 supports system of expenditure so extended
and enlarged Toarrest prodgalty then, restore eco.
Monty, Off all useless and unnecessary Offices, was
not only demanded by stern necessity but was loudly
called for in redemption of the solemn promises made
to the country. "Relrench retrench !! Mir. Clay had
proclaimed.
In his speech TO be found in the National Intelli.
gencer of July 10, lS40) when treating OF the public
expenditures, he says that SHE annual expenditure
may, in II reasonable time, be brought dozen from its
present amount Of almost forty Millions to near one
hird Of Mut sum-
In every town and hamlet, from every vale and hill.
top il was proclaimed that thirteen to fifteen millions
a year were amply sufficient support the Govern
ment economically administered. The honorable gen
teman from North Carolina, MIR. Stany,] in an early
part of the session. had said if the Wings were allowed
,ime-buta single year-ihey would show that the Co
yernment would be sustained Sl5,O00,0G1
There Mr.. Stanly remarked he had never said so
|, MIR. Speaker, certainly understood the gentle
man. | have this moment shown that his greateader
MIR Clay had said that third Of forty millions would
soon be enough; and surely he would not dissent from
opinion coming from quarter 10 which he owed so
much Difference.
But Sir, the Wings, instead Of attempting retrench-
n,ent-instead Of holding on to that which had been
made 10 their hands assumed the expenditures not Of
the last year. but of tIc four of Mr. Van Burens Ad-
ation furnishing the true standard OF future
expenditure.
Mr. Fillmore says "If the experience Of the past is
to be the guide for the future that annual expendI-
lures for the current four years will be near twenty.
eight millions Of dollars Speech, July "a, lo4l.
lie goes on TO say Then, according to this calcutta
ton, taking the law it now glands, and Judging OF
the future by the past, the amount stands thus:
Probable annual expenditure $27 ,6o1,0Oo
Gross amount Of duties after
July /, 1e42 $l3,95O,o00,
Deduct for expenses Of coll
lection, drawbacks, DC. 3,14i ,oOo