The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1842-01-27

ability Il think it may be said he doubts the political
honestly of those who control its affairs He has
the proceeds ofihe public lands wrOpglllY taken from
The Treasury; he has seen % millions Of the customs
revenue deposited with the States, and las seen you
afraid to talI for 1t when needed for your current
pcnses, and he has no guarantee that moment of
prodgaity your other revenues may not also be diver
ted from their proper PURPOSES. . '...... .
Yourlposthlaser Generalhas laid before you pro,
jact for partnership with all the altoads in the cou,
try TO the amount o8 millions of doluls. Ynlr Secre
tares Of War and the Navy have sent in their plans,
which, if carried out would exhaust all tie energies Of
this people for halfa century. Weshays already had
notice from member orIhS House, of proposition
to tho debts ofte States amounting is said
to $20O, ,oU0,0O0. Aud you expect tie prudent
money lender 10 cast his into such whirlpool
ofreckless Extravaganza ..s...
Sir, raid Ne, T. upon two occasions since have had
seat this floor, have voted for the ssne of Ireas
sury notes 10 supply the Temporary wants Of the Governs
nent; the last occarion in February 1871, and the
bill was passed, not much for the then necessities of
the Treasury in aspirit OF ibera,y towards the in,
cunning Administration, which has had s;hey benefit of
nearly the whole issue under that law. q believed then
as do now, that as temporary eSpedient, mode
of anticipating for month"; or for few months, the
accrumg revenue of the country, mode of equal-
zng the receipts and expenditures Of the financial year,
the expenditures being heaviest in the early part ohe
year, but in all to be paid out the of
the year. that issue Treasury notes the safest
and by far The most economical mode Of supplying
temporary deficiency in the finds of the GOVERNMENT
They entered into the operations Gothic Government
qniety, but effecuay, without additional machinery
or additional expense The aid orno broker was cal.
led in No son Of the Secretary Of the Treasury was
paid for negotiating loans. Upon those grounds they
were recon- monded by the then able head ofthe Trea>
sury Department, Mr. Woodbury.. The credit of the
Government being good, heylwere gladly taken by the
public creditors al par value, aLd promptly redeemed
when due; and had helast administration continued in
power firmly believe that neither the loan ofJuly Of
12 millions, nor the issue of Treasury notes asked
for, would have beef necessary. Sir it is high com
pnent to the late President, well to This Secreta
ry ofthe Treasury, that for which, more than
any other they viIlfed one fhefEGrsf meas.
Of this Administration. It's precious confession
Ills Of the present Secretary that the issue of ofTreasury
notes is "measure.o of obvious necessity" Why sir,
during the last Presidential canvass, engraved ima-
tons ofthose notes were published in every Federal
puper-were Antlered before the People by every Fed
eral stump orator, and posted upon the walls of every
log cabin. rejoice that the 'Sober second thought of
those who ridculed and opposed them, has found them
to be "a measure of obvious necessty."-
Mr. Chairman shall vote against This bill for the
following reasons:
Because do not believe hnt in the low state Of cred
it in which The GOVERNMENT stands, they will COM
mand their nominal value in specie and am opposed
to paying the public creditor in deprecated paper
Because it Is not proposed that they shall be issued
as temporary relief to- be paid out of the ordinary rev
onue of the Government to within the year, on
the contrary the bill expressly provides that they to
be paid with money TO be- borrowed, ifitlcan be done,
on permanent loan and am utterly opposed 10 COM
mencing or increasing national debt in time of pro-
found peace, and ;hat too, before any provision is
made for The payment.of IT. Our foreign relations, we
are every day told, the delicate character
trust that any controversy OF warlke nature is far
from u.s. but it mayscome, and ift does, hope that
however unpreparcd in other respects, national
credit may be found unexhaused, unimpared, unem-
berrassed, even to the value of dollar. will sooner
vote for direct TAX than for Daonal debt in time of
peace.
Because the controlling majority in Congress have it
in their power to restore the proceeds of the public
lands to the public lands 10 the Treasury, where they
riehtfy and constiutionalIy belong and refuse to do
So portion of these lands were ceded by some ofthe
States to the Federal Government and the taxes upon
the people thereby be diminished Another portion
was purchased with the money collected om the peo-
pie or the support ofthe Government that the taxes
upon the people may by that much be the less But
this very Congress, by gross breach ust hus de
verted the proceeds of the lands from their legitimate
object and now seeks to supply the deficiency by
loan which must be eventually paid by increased taxa
ton upon the country. lfths bill fails, and those who
have the power to restore this fund.- refuse 10 do so
upon them be the responsibility of suffering the Gov.
ernmeut to be dsgaced for want of mOney meet its
engagements.
Anoher reason why he would not vote for further
loans to be paid by further taxes upon lho industry Of
the country was that this Government has upon depos-
ite with !be sew eral States, the of25 millions of
dollars which it has right to call for at any moment.
This money, said Mr.. F. came into The Treasury by
way ofdueS upon articles imported into the country
which duties were added TO the price Of the article and
were therefore paid by the consumers, The great body
of the people. 1t was col eced of them by this ndi'
rect mode oftaxaton to deaY the necessary expenses
ofthe Government-.nol being required for that pur'