The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-14
House OF Representative.

House OF Representatives.
WEDNESDAY, Jan. IL, lS42
THx BAHxRyrr BnL-THE TRgAsURY NorE BILL
Mr. FILLMORE inquired, as soon as the journal was
read what the hrst business in order.
The SPEAKER SAID that the presentation OF petitio M
ahder the order Of FRIDAY last
Mr. FILLMORE hoped the House would agree TO suspend
the ORDER for the purpose going into the consideration
OF the Treasury Noe BILL and hoped that period might
be fixed at which the debate upos it should cease He
then submitted notion that the rules should be sus
pended which was agreed to- He then submitted re.
sOlutos that the Treasury Note Bill should be taken out
Of the Committee OF the Whole aid reported to the
House, on Thursday at o'clock.
Mr. AruERroN OH cted to the reception Of the resolu
ton and hoped thai the Com mees would be- called up.
for reports. He wished the Committee the JUL
ciay to have opportunity Of reporting the bill for the
repeal Of the Bankrupt Law, in conformity with the in
Mr. FILLMORE said that the subject could not be reach
ed to-day. There already report from Committee
the subject Of debate before disposed
Of II the objection persisted in he would feel 1t has
duty move suspension OF the rules and call for the
Mr. ArHERroN still ebjsctng, the yeas and nays
ordered on the motica to suspend the rules. :.
Mr. RHErr said he there was very little dis
position procrasnate this debate and
so far as he was concerned--
Mr.. SrANLY asked il the motion was debateabe.
The SPEAKER replied in the negative.
Mr. RHErr-Cannot assign reason for my vote'
The SrEAxER-No, sir.
annousced-ayes ll9, 6j which was not majority
sftwo.thirds, so the rules were not suspended
mittee OF the Wsole ON the state OF the Union.
Mr. SrArLY hoped not; but that the House would pro
seed TO the consideration of its regular business He
asked for the yeas and nays on the notion which were
ordered.
Mr. PRorrI1 inquired if the motion did not succeed,
would not reports of Committees be in order2
The SPEAKERThat would be the next business IN or
der.
The question was then taken on going into Committee
OF the Whole, and decided in the aI itiveayes los,
noes 81.
The House then resolved tselrino Com nttes of the
Whole on the state Of the Union, Mi HoPKISs in the
Chair on the bill authorizing the issue Of five millions
Of treasury notes.
Mr.. FLovD resumed his remarks from yesterday. 1t
had been said by English author that an American
can 10 any thing twenty mau,es and he hopes
Of finishing his remarks within that time In order to
decide upon the necessity of passing this bu IL would
b proper to look the state Treasury and this
would also afford glimpse of what had been done in the
way ofeconomy and reform by the new Administration
From report OF Mr. Ewing, the late Secretary OF the
Treasury, they learned that the expenditures for the
year lS4O the last Mr. Van Buren's administrator,
sal 75 Al From report of the present Sc
ereary othe Treasury they learn that the
for 1884, 50, 025070 70 and that the esti
mates for the expenditure for 1912 amountto S31 79
- This shows the expenditures Of lS4l over those OF
1870 be s4e 695 and those OF 1912 ls4o to be
$49 535 81 little short Of increased expenditure
Of five millions of dollars per From this pie
every one would be enabled to judge what might be ex
in the present administration. The first act Of the Extra
Session to take from the Treasury three millions
annually The next was TO suihorise permanent ma
tonsl debt Of twelve millions. What spectacle was
there presented The party in power boasting Of their
iberty in distributing srgesses to the States while
the Governm liking round, cap in hand from
broker broker asking relief for the pressing necess
Nes oithe Treasury without success. There were out
standing Treasury notes to the amount efseven millions
loan negotiated TO extent of six millions, and estimated
expenditure during the next Of hir two millions
and the Treasury Of the nation empty and its credit
gone as was not able to raise dollar on its bonds
What an influence for evil must the party possess to
wora much in the ten short months they have been
treasury SSe but Jnsis %pouS prefer
invest in loan The difficulty in negotiating loan
vas not in the form of the security, nor would be
changed by altering that form Ths money lenders did
not doubt the ability ofthe country pay its debts but
they wanted confidence in those who administered the
Government They had the revenues of the alton
diverted from their legitimate Objects and they ba
The tx,ravasant estimates for future expenditures. Ne
would suggest mode by which the Government would
De relieved from its dhcuss, and that was by the par
y in power retrscng its steps aud uadoing every
:ure ofths Extra Session the land revenue to
the Treasury.
Mr. ]. p. KESyrpr.-It has never been token out.
Mr. FLoYp.-Does the gentle man pretend to say that
the Distribution Law is not in operation since the LIST
instant
Mr. KrsyKDY nodded acquiesence.
MrFLorD-Then restore il even il it is but single
dollar not so much money that is wanted to restore
the public credit, Confidence resulting from honest
seton Reclaim the twenty eight millions 10 dc.
poste it'll the States repeal the law authersing the
home squadron, that greatest of all humbugs enacted
that floor, the Secretary of the Navy did kno
where to send HIS on and men could not he 70 nd
to enlist for cruise from Sandy Hook to Cape May
peal pour BANKRUPT law which viii make bankrups
where II will relieve one In wsrd, carry cut the
OF economy, retrcn chmcnl and reform Convince the
world Of the honesty o! your intentions and your
lions and then there would be necessity OF borrow.
ing money. or ifthere Il could be borrowed with
cut difficulty. He had spoken Of the Administration,
without separating the Executive from the Legislative
branch but he considered the latter responsible as the
emorrsssments o. the country were oceasoned oy i'm
prop, legislation.
A, the conc usisn Of Mr. Floyd's remarks, several
members sprsns to ne floor but the chair awarded 1t to
Mr.. AsS0LD who com menced by saying, that though
The Chair had interrupted the remarks OF the gentleman
nSt lgl NJ lsI hoo ha
debate for rr,evsncy, yet had since takense vide
range Of LATITUDE nelu ling within its scope the United
gtates Bank the STATE bank depose system, the tariff
the distribution hi and the whce extent OF political
Discussion thai he expected to be indugein the same
latitude. The oirman know him sufficiently well to
that he did not like 10 be hampered by rigid rules
M ne went iOI The dUmocrstc doctine Of the largest
noerty. They were aun'ingy todiyes'erday that the
wing party regen up dcfunct and ye, the gentle
Ian from oa1 had inflicted. with ruthless vengeance
piows upon It's desi body He not disposed to boest
81 his own generosity Or he the herald Of his own Chi
vsry but he would say that il always gave him pain TO
tread upon the bruised reed. And there Yves another
ust IN his character, hat when his friends
ther heads ny rgle hair, that the moment for him
SUCK the closest " them The little remnant OF the
% collect the scattered fragments INTO lump, like
iunpof les,tn, 70 ieaven the whole lump, and while
they were ~ nov 70 desp,r of the republic but TO
gloom and SISTER. II the whig party was broken IN
he stood slone, he would suswer the Infamous propo
stons that presented here and when his physc
powers failed he would have his speech and
read by the clerk very morning and would be so
hgble e by every body in the IT, states
sven by the people OF ~ Hampshire Lsughter) He was
IN favor OF TIE Treasury note hill ani before he do
hewould assign reasons for Bat he wished off
IN amendmen, TO the amendment o! the gentleman
~ MIR Uu1erv ooAl that the note to be issued should
be Of any denoiDat not less thsa five dollars they
could borrow money at six per cent he would much
sooner 70 for loan than Treasury notes but this they
were Informed oond be done and he was for enabling
the Government 70 discharge it's oblgatians a party
In this country for the last twelve years had been en-
deayorDg 10 excite the prjsices and haired othe Too
sgainst the rich. They hsd encourage The docri OF
AZ srsniSmtc repeal charters 70 violate contracts 70