Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-01-27
u'OE YE..--.SO. ~.

were uHiftO Ms ihDlntt-d Charge winch hau lnue0oS
been advanced at the extra Session, but which had been
INSTANTLY repclcd in strains Of manly ooquence, whoso
tones o thunder had mol vet ceased To ybrate On
the Nor could he comprehend why the ssnsibies
OF gentlemen seemed now To be awakened into much
vyaciiy; he could, moi really understand it. And if
gentlemen carried il much further his suspicious would
begin be aroused IN nc, AIR NJ mist derrecats
aud depoe the the Executive lad deemed it, his
duty to pursue, IN regard to great financial measure
which had been submitted for his approval at the
Session. and which had IT hertme law, would have
saved the Government from being driven course Of
measures like thai nov proposed yet his dnportmont
had ever been highly respectful Inward that perS0n a.
the Clcl Magistrate OF the Republic Nor could he
but tank that gentlemen WHO undertook to defend him
the strain in which the gentleman from Indiana had
just addressed the House. tul lille Consulted tie dignity
OF the President.
Here Mir Profit idterp sed. aud made some remark.
ut which all that reached the Reporters car ih0
gentleman wants 10. hut he won't
Mr.. NJ resumed. Did any hi'g he Ind said amount
ton clmue against the fnsidcnt2 Could nothing be
SAID which seemed any degree directed towards that
officer, hotup must pop the gentleman from Indiana,
and il was we and "Nu'-tuite in royal sylo.--
! Much uughtef And when gentleman, IN reply, an
swercd The gentleman hat le bad not so much as been
thinking Of him, the gentleman threatened that he
would Quake lht'n think al lani lie @onld attef
himscf into their brains. GeitnS toleaS. .angher. =
Mr.. NJ had aquestian 10 run 10 the gentleman from
Indiana Thai gentemuu know The personal respect MIR.
NJ cherished towards Inns nnue knew II better but real
y the e,ntenan course I'll s ueeasen bad been such
n4 Ia awaken seine suApcien This que stion boz
tween the Congress Of The | ucd States and tho Exe-
culivc Department. The liuuso had quarrel with
tic guard and last and least of all, bad the House Of
Representatives, question with The gentleman from ln
diana. II that gentleman Nas indeed the accredited or
pan Of tic President that floor, then the President
must be held responsible for what the gentleman said
and then MIR NJ understood that We, alas the Presi
dent and 1.-The guard" would appeal 10 that House.
hat would make e,g appeal to tie Peoples the United
Statcs tr the correctness Of our couro. Now was ho
understand from this that the President meant to be
candidate in the Presidential eanvassl II so. let
the honorable gentleman. as his organ Mud representative
here make thai declarations. then they should know what
Ia ttly but 10 return 10 his subject.
Mt w. said he was opposed 10 the policy OF the BILL
| liza ropngnanee tot unaltrrabe aud inyneble.-
Would any gentleman tell hn that the Government Of
of this mon, representing wonty six great. populous,
powerful aud independent States, burg IN want Of mo
ucy for the public service. and ging into the market
with t8 bond having twelve years Ia run, al m interest
p sN per cent. could mol uhatn t}0n assertlda which
Amounted 10 e short 81 declaration oi bankruPtcy.-
i(that Wcoue. then iofrbeas lwas the nation ought to
know IT, This country had been, With All empty frea-
surY on the eve ufa war wih Nl,at llrItan-a power
possessing $50 ships Of war. While had Ca Power
whose eots extending themselves along line Of two
thousand Eve hundred miles. able h gdle our or
tire saoard, and might nj their pca5ne select any point
of attack they deemed the most yulnerablc-a Power
Nho had she actually rome to with MS. would have
und greater oet tlan thu 10 resist her; and WIG.
had 4le made descent upon the land. would have
rountced amy but the free and hardy yeomanry Of
the land An experiment. indeed. she would A.
Gain make but would wisely conne herself 10 tie
There would have len The field oic,mlat; for
"ilcr march on the mountain wave,
"Ilcr home the deep
Then we must have fought. cost what II might
And did he uude rstand gentlemen sorting that
could mol. even in that emergency have raised Twelve
millions Of dollars On the bond u lbs Government SO
help hun Heaven he did not believe a word Of it, so
far WIS from being true, HAT bad tie necessity cxs
ted. the Government could have get from this great
People hundred w hundred millions On It's simple
STRIP.
But they we're told lhoro was necessity for this ennis
sion Of 'l'rcasny notes. Mr. NJ had denied IL in Com
mlttoe. and he doned it here. Ii the money must be
had he preferred a lean. He nbhorrtd the whole
11easury Noc system: constitutional gr unds, for
he had not examined The constitutional question: but hid
abhorrrd IT every account. ON national grounds aud
also lie would frankly ayow 1t. on party grounds
low did We standl The Bank bin had been vetoed;
the bankrupt law was gone; he supposed the dislribu
law in little better condition; the lean had failed.
and now they were to be thrown by the Treasury Note
system Heaven and eartIl What had become of tho
lfuii that was result from tho Extra session.
lauph from portion Of Tic House.
Ihon, with all personal respect. and with the under
standing that, AFTER he had obtained from the honorable
chairman of the Committee of Ways and Means tho in
formation he desired, he should he at liberty to resume
the floor and To comment upon II, he would again ask
the interchangeable and perseverng exertiuns of the honofs
BE gentleman. apart from any facts contained in tho
official letters or report NJ the Secretary Of the Treasury
as TO the power OF the Government obtain in the do
nestle market, the amount needed by the Treasury on
loan.
Mr.. FILLMORE stated in reply, that, in addition
the official statement OF the Secretary he had been
permitted the original correspondence OF that Off
Ger with our commercial cities that subject, and he
was Of opinion that ii went fully 10 sustain the STATIC
monts made by the Secretary to tie committee. lie had
also taken plans to acquant himself with the facts from
those who were well acquainted with the state of the
money market. and all he had learned confirmed him in
the same belief 1t was. indeed. thing undoubted with
him that there existed probability if there wero
possibility of obtaining the money needed by Govern
ncnt On the loaa already authorzed--no, not even
should the time be extended to Twelve yearswlthoui an
application 10 European capitalists.
In addition he begged leave to say that friend and
colleague Of his doubling that such could be the act,
he had for his conviction obtained evidence ofthe appal
ing state Of the public credit at the present moment lie
ere sent to the Clerks table letter from Prime Ward
< King. OF New York, addressed to himself, declaring
il as their opinion that ansIni could be obtained on
the ned State lean. should the time be extended
To twelve years. inasnnch the United States, six per
cent stock had been offered the market frum three
to five per cent and without buyers. They fur
hcr stated that the Government would have to allow
en- per ccnt. interest in which the wanted might
be obtained. They advise that bends be given to run
years for four Millions and thai for five millions
Treasury notes be- issued bearing above seven per
cent. since the bearing SIX per cent. at
per discount. The letter closed with very
melancholy reflections on he present state Of the Gov
auIrr IN re