Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-03-23
REMARKS OF MR.. FILLMORE
In defence Of the Committee Of Ways and Means
against the attack Of Mr.. WISE.
THE LOAN Ri

" " '''~ ''''''''''o VI ways ana Means
against the attack Of Mr.. WISE.
THE LOAN BILL.
And, on motion Of Mr. FILLMORE. the ITop,s
resolved Itself INTO Committee OF the Whole Oh the
state Of the Union' tMr Briggs, Of Massachusetts.
IN the chnir,) and resumed the consideration Of the
bill 'for tho extension Of The loan Of 1871 and for
addition Of FIVE millions Of dollars theretop
The pending question was on the motion Of Mr.
Fillmore (under direction ofihe Committee of Wsys
END Means TO ado after the third section Of the bill
tie following as section No. 4:
find be u further enacted, That the nrovi,o n a.,
serond section Of said oct is hereby repenleJ end
the Secretary Of the Treasury is hereby authorized
TO cause the stock hereafter 70 be issued 10 be dis
posed Of az the highest price which he can obtain
Tor the same on Us being advertised in reasonabl
time for proposals; but no stock Whatever tb,l lie
sold under par except upon and in pursuance Of a
specific advertisement and in virtue thereof
Mr. FILLMORE said thlt when the committee
rose the day previous, the question before IL b,d
been on the adoption Of this amendment. N he In p
sefWI no fourth section Of The Bill aud it had beon
objected n by the gentleman from Keutuckv nj,
/ Dndcrwood,l on the ground that u allowed Tie
gent Of the Government 70 dispose Of Gove,omen,
/ securities below their par value and tberetv ia, -
panel the national credit And in that olisc,i,,
| the gentleman from Virginia tMr. W,sS hal
warmly eoneuued. Asrepoued IN the 1nlelIgence,.
I mat gentleman had denounced the measure n ~
directing by law the dscredit Of the Govsr,,,en,
certificates Of stock !" as bring the "seversst ,,ob
/ inst could be given % the Governments own stock
/ 10 ne own lava presumption that i,s bonds would
/ not command par value !" and os being, in thu,
| genNeman's opinion, "the most unwiso and impo
/ liiic pfoposiuon thot could have como solernolv
from The Committee Of WpYs and Msans.D Now
t bad been very apparent that this stab Of the zen
| ucmln's was aimed at the Committee Of Wavs
md Mean'; but n did 80 happen that It was eiyso
20 ne dofk, and passed through that commute M
| NO very heart Of the Administration i,seic m,
| COMMITTEE Of Ways and Means, he would TAX.
this opportunity Of Saying, had shown az much re-
gard TO the honor and credit Of tho Governmen,
a. any finance committee that had preceded them
and, m fact, they had been induced 10 offer The b
before tho committee only by the extreme urgency
OF the Administration itself. What Ind the fnan,
cal organ Of that Administration said7 who va,
u that had given this "deady stab" 10 the credit "A
me Government and the honor Of the countfy7 IN
reply 70 tlat question no would read to the House
wat The Secretary Of the Treasury himself had
sald o. alely ns the llth Of the present month.
There Mr. =. quoted letter Of tho Secretary
yR'ng 10 the Committee Of Ways md Means tbst
| lhe existing cmbauassmonts in the money market
called lor the insertion Of provision IN the loan bill