Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-01-14
TwENTY-sEvENrm coNGR
MONDAY, JANUARY 10, 1912.
HOUSE OF REPRESENTATIVES,.
TREASURY NOTE BILL.

TREASURY NOTE BILL.
| MIR FILLMORE asked the unanimous consent
| OF the House To take un the Treasury Note Bill.
and stated that the Secretary of the Treasury had
informed him thsi unless something was done in the
premises the issue OF warrants must cease from to.
! dav.
Objections were modc, and Mr. r then moved to
suspend the orders OF the day, the purpose OF 90
ing into Committee OF the Whole
| Upon this mo'ion, the yeas and navs yycre called
and were. ayes las noes ~.
| The House ihereupon went into committee of
! he whole upon tie state OF the Union, MIR HOP
| kiNS, ofNr., IN the chair.
| MIR WISE said that he should Withdraw HE
amendment (solus 20 repeal the Land Distribution
BID 81 this ume, and submit the proposition m a
| new form, NJ another time.
Mr. WELLER sent an amendment TO the Chair
| 10 the same effect ne thar Withdrawn.
| MIR FILLMORE raised the question of order
! The CHAIR decided, that the amendment. heinz
! upon n suhIec. entirely different from the Bill the
one proposing TO enact law, and the other to repeal
an existing law upon totally different sutiec,, was
/ no: IN order.
An appeal was taken from this decision and brief.
! " debated by Messrs. MckEON, CLIFFORD.
TlLLlNGHAST, PROFFIT, WISE, HOLMES,
and others. Te'lers were called for. and after y
count, the decision OF the Chair was sustained bv
80 10 -.
Mr. COOPER, of Pennsylvania. warned tho
committee that u was not his intention 10 reflect n
long pr set speech upon them; he rose but briefly TO
]
| bill now under consideration. He had heretofore
| though under different circumstances, avowel his
decided opposition TO the issue of Treasury notes.
and he had done so because he believed that, as a
| means of supplying the wants ofthe Treasury II
was lnsldious in us character and tended TO undue
extravaganza IN the administration OF Government,
| So long as Government was able 10 re lieye its
wants by the emission Of Treasury notes. il would
not Oe very hkely 10 govern i,scf by the principles
OF economy; but II II were compelled, on the con.
traty, 10 resort to loans il would fnd Itself under
necessity Of stunning extravagant and profigate
expenditure. This was one OF the considerations
which had actua'cd him in opposing the system.
Bu, there we're Others no less worthy OF considera.
ton, TO which lie would briefly advert without en-.
iering further into them.
Z As practical statesmen, they were called uDon TO
provide means TO relieve the pressing wants of the
Treasury this all must admit; but in selecting those
means, they were bound 10 adop, such as, while
they furnished a supply 10 meet the cxigercies OF
/ the Treasury, would az the sane time promote the
prosperity aud advance the true interests of the
People The question now to be looked at was
this; VIII Treasury NOES have this effect 10 tie
same extent as n ioan2 n not, then Congress was
bound TO reject the one and adopt tho other. Eve
ry body knew that, should Treasury notes he issued
with an interest OF SIX per cent, they would soon
find their way into the pockets Of capitalists and
never would get into general circulation; but should
a loan Oe negotiated, either at home or abroad
more especially II obtained abroaj-tbc amour,
would obtain general circulation in the country
and hustle paper money market would bo proper
toGarly relieved and thus the PeOple would be
benefited 40 the same time with the Government
For this reaso- Mr. G. was IN favor ola loan.
/ But INC committee were told 10y the honorable
chairman Of the Committee OF Ways and Means.
that the Government was In state Of cfntatr,s..
ment and such embarra ssrnept es rcauire1 innned,
ate relief Itmighi be II the thurman stated Ibis
\ to be the So he had no doubt that IL WIS So. INT
let II not bc forgotten that embarrassment e1tcndrd
beyond the Gpvernmeat alone. the same c,on,,,,.
] y frun ID fflr
sing on the People 100 an tquiI degree. II the Gov.
ernmen sito be rel eyed ls tie People be relieved
/ 100 % Ioln would operate ~ relieve both.
MT. y. sli1 no was not surprised 70 sec gent'o.
J mon belonging 10 what lad recently been denoui.
hatel tne Van bWcn party supporting a measure
lkc ms mat party, notwithstanding all their 81.
f Chalmers, had always been In favor Of raper r,.
l,ey-'Iey ipd ever been tie p1pcr-rnoney parry.
my h'n removed the public money from the
S..W'Y "If'n'sd W low und had placed u %
Here the Chair in'erposed unI checked Alr C..
on ,he g'ouuI Of irre.eylncy.
WI cooper replied hat he WIS addressing tic
V'"IhIteei 70 prevent il possible, the c1n'smuiars
issue Of Itclsuty notes, and ss 4, mono ~, ill.,, e
was ABOUT 10 sho" TINT one Of the two front mr.
- ,ni '''h.y might consistently advocate
9"..m measure bot Tint tho other could not
The Chair wo5 unable 10 SEQ orv c,rr,v,,, a
tween tho removal of he dcp,.,fss ADD a., 80, -
, Treasury notes NV issue u
Z =, Aicr some further explanations between ,t,
Dh' mo VIZ Cooper os 10 the relevancy of lis rae
marks, Tue Chairman slil uIhcring To- his decs,,,
q that hoy wefo not in order,
e Nf GUTTER took nn appeal and the question
4 vas discussed IN % somewh,t despl,orv convi,,;,
j, ~ which ihs Ch1r MtCoopor, and Me,,rs C,ry
s'any, AMI " e johnson took pati. When he ~,
h. pea was wthdrwn, andl 'P
Z, W.T. CoVtbF pfoceeded' IIo bad merely refer.
D. ',' y" an historical fact Ivy way oil illustration Ia
10 snow lhat one party could consistently 20 Tor III,
% present oi but tho o,her could not One of moe
Re parties had destroyed the national INSTITUTION md
s,'en L,.o 10 brood Of monsters, bred by the spirit
Dr. covered The land and which same sri,i, b,J ,,,
le 9''ey Produced that greatest md foules, Of ol
1o'mnaD'c thlne3 thc doctrine Of formulation. Nj,
e =. admitted tnot such parry might conss,cnt'v
o. enough 70 Tor ms bit but he astonshed, he