Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-04-22

hand dated March g, 1912. In that among o'nei
o' =; obss,ved s.Tbe loan bill muyt be passed, and
10 tool sold to the hehesf bidder. Since that' we
bear constantly, morning, noon, ana n'sn'' 'ao III
specifc or panacea among the wise inanes' -, -
| Honses-"rbe loan bill must be passed. anu ,"e 81
cold 10 the h;yhrst bidder. Tins last .n,'.i1 w
sou - 10 t,, n cell the stoc ITO the highest bidder,
ord that for twenty years. seems to DC inc very P
and omega Of The wisdom now cohhec'eu WV 49,,
RANGES Sir only three days after the date 81 ''al
,or;el letter the present Secretary rf The teasry
elf writes to the chairman OF the committee VI 'ay
sen n The other House. requesting" "a provision
a. tho ,onn hill by which the stock can be so'd ior
whatever it will bring. ,on,r
Tie 10 The wretched finale of all that skill economy,
and nrosnerity with which new Administrator "aS
TO relieve all the distresses OF the community q M
and especialy conduct the finances OF the country on
o., accurate saving and wonderfully improved pans
romuared with what preceded 1t. Our opponents LOON
the Treasury in successful operation Oh 'e u :" -
l March lS4I-eyery demand paid PnnctnasiJ-Puo'c
credit never higher or quicker-ls stocks ana noles
:, ~ above par-no debt beyond five and hill mil.
Lions temporary and the power TO issue hve millions
mor or Treasury notes, II necessary, besIdes nearly
a million of dollars in money on hand. YET, ~ Z
single year. during profound peace, all our scai ope-
| rat,ons have become stagnated and embarrassed
debts protested for payment-cred'tors and con-
tractors at times without either money or even depre
ciated Treasury nues-publc credit destroyed, ana
our stocks driven from the market--a debt contem.
plated permanent temporary, which, by Tie close Of
1912 must equal at least twenty four nnllIons-reve
nue falling ofl-espenses increasing, and no eieciual
remedy able 10 be devised by this Administration but
TO follow the Wall street command; and alter one loan
bill last July in permanent form, aud another last
January in the shn pc OF Treasury notes, TO introduce
third one within eight months, and cry out to all, zine
loan bill musbc passed. and The stock sold to the hgh-
est bidder.
five take back the lands, and pledge them proposed
in this amendment, and then shorten the term OF the
loan five years and, prohibiting sale below par, are
obliged 10 give eight per cent interest Tor the eleven
millions Of money, then, the whole principal goes INTO
the Treasury, withou; deduction, posery Is not bur
drncd tempted into wrong and we have TO pay IN
interest discount aud principal, only SD, UG0OOO But
if we refuse such amendments, and are obliged to make
discount on tie loan, to yield eight per ceni Tor
twenty years which is what present six per cent
stock is selling the discount must be ocxo!5tan that
We will get not Gig hty -four for every hundred. That
loss, with the six per cent interest PAID on the whole
one hundred for twenty years, will compel US to pay
than four times much for The money we get, rs
we should in the other
BY twenty millions from customs, as estimated by the
chairman Mr.. Evans in January last, or nineteen, as
estimated by the Secretary and one million more accru
ing this year above 90 per cent which he omttpd acd to
this the receipts from the lands, IT properly advertised
and the whole can be discharged But the chairman
wishes to correct his former estimates and make some
thing like three four millions difference IN them IN
only two three months. trust nDder this request
he will feel little more charity hereafter, as well as
those who are associated with HIM. for any errors made
by others in estimates. The Senator from Kentucky
mir. Crttenden has set good example on tiis point
since his short experience in Executive office by sayIng
that he now believed ACKNOWLEDGEMENTS even ole
one under Gen. Harrison could get without some
mistakes and wrongs.
But correcting this error fhree millions in their es
mates, and putting tax Of only twenty per cent on tea
and coffee, we have ample supply TO discharge all
the necessary expenses OF the year. As TO The lreasn
| ~ notes out, Senators will perceive that many OF
Of them would thus be extingushed before the year
ends without any additional onns. But what are not
SO disposed of would cheeluy fund at six per cent.
fora few years, pledge OF ample security. lhty
then al 10 par in value, and remain lher
and the whole debt ofevpry kind can and Will Then,
f few years, be entirely extngnshcd
Il We should thus escape national bankrupcy-m'-
lions millions would be saved TO naked Treasury
public credit would revive and escape brand and de-
gradaon under the terms of this loan, which can ne
ser be effaccd. No temptation will be held out TO re-
pudiaon dreaded aud sincerely deprecated repudIa-
ton permanent national debt, built up in profound
peace, would be most happily avoided The sacred
compromise as 10 the Tariff years ago. would con-
tinue inviolate. The compromise, soemny and
explicitly enacted at only the last session, Will not be
proaned The highly priced resolution of the dstln-
gushrd Senator MIR. Clayl who has just left u.s. pledg-
ing the Senate 10 raise means enough within the year
den under foot by his friends as his back is
turned. We shall refuse 10 show real vaclilalIon and
mnabty, and at the same moment Will evince The
candor and courage to do right however different IN
form from what party influences or party preJudces
may counenance Instead, then, of making bad worse,
and trying new and dangerous experiments we shall
to courses in matters OF finance, sanctioned ny
the experience of all ages public we'll as private
life May decide wisely, then for thus our SHANE
and anudotc arc both b.fore us.
u CONGRESS-
WAsn1Soros, April l.-An interesting debate took
place in the Senate to-day, on resolution introduced
by Mr. Woodbury. in relation to American tonnage,
freghts and commerce. aec ted by existing arrange
ments with foreign powers The sub ect one full OF
interest to trading classes, and was treated with
! great ability By MIR. Woodbury..
In the House, relations with Great Britain were
broup up discussion of amendments proposed to
the appropriation bill touching the diplomatic service
Mr.. G ingersn based some propositions on the course
held by several Continental powers Of Europe IN regard
to the right of search, which The IT, are most es
prcaly Interested and in remarkns on the subject thus
introduced entered 10 extent into the merits OF
the qnesons affecting peculiarly our interests, and
regard which Great Britain evidently seeks 10 bring
an European league to bear against U.S. Mr.. hdams
in reply 10 Mr. lnGersoll, made thoroughly English
speech Sir Robert Peel himself could not have deliver
ed one exactly suited TO his purposes and that OF
his extraordinary mission here, than that made by MT.
Adams 10 day. We perceived, in the manner in which
was listened 10 by the great body oil Tue Federal
party in the Hall, that like the Bourbons, they have
learned nothing by experience. If we do not mscon-
strue looks Lord Ashbnron will find enough Of The old
leaven of the Federalism Of the last war, the pre-
Congress- to answer his purposes. The Philip OF
the seas at all events is without his orators in our
public councils We shall invite the attention OF our
readers hereafter TO some OF the signs which already
manifest themselves, showing that the British ministry
have neither mistimed her mission, nor mistaken the
man she has sent on it-Globc.
WASHINGTON, April l5-Mr. Adams resumed to-day
his unfinished speech OF yesterday, support o the
British prciensons. lie again insisted the formdn
Bile power of Great Britain, and con,rasled with it our
unprepnred condition. which would render the contest
on side hopeless. Mr. Ingersol in the course OF
the day, reminded Mr.. Adams of his declaration in q