The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-15

| leiged that IT amounted 70 five six millions
| With that amount to begin WITH aud annual
revenue Of twenty millions annual expendi
ture OF thirty millions debt would be up in thres
years ofbefween thirty and fort millions Of dolsrs
was an axiom hc truth Of which Qad been tested in all
utne, and which sustained by the OF
Washington, Jefferson and Madison, and whish was
sanctioned by all the enlightened statesmen Of the old
world hat whenever debt lson authorized, the
meansfor its pay should be provided FLis not done
Ii was said by colleague tMrJ ingelsoiD that the
Treasury Note Bill of 1912 signed the Father
the Constitution, Mr. Madison. He (Mr {. Ihgerso)
Congress at that time AMI shortly after the Treasury
Note bill was passed at thu express recommendation
Mr. Madison to provide for the redemption of the debt
thus created. This the wise and the honest policy
both in Governments md individuals His fIiend
from from New York tNr Filmorel he believed rep.
doubt he was acquainted with gentlemen for
mery ofthat city named Rathhun; and another gentle
,leman not long ssce member OF this House, MR.
MI chell one OF these gentle in the pen
ten larry. and the other in the ombs for what
they incarcer,ed For issuing treasury notes. IGreat
hughterI There had been aCharge il 10 true, OF for
gey against them; but in his opinion, forgery ought
not to be considered an offence. (LaughterJ Why
gerry than by any ether way. Yves their crime worse
than those Committed in the city from district of which
DE- came by those who stand high in the community
Were they productive more misery 10 the widow and
the orphan And ". in the the proceeding is
punished crime, while in the other Is not only
punished but the the courted and admired
Of the circle in VIII Gu h. He surprised that
his friend the Secretary of the Treasury, in his invest
CATION 70 the chances OF being able to negotiate the
ba of his loan, should have jumped his
city of Philadelphia and goRo to Now York and
B son. Why, Notwithstanding the diapidation OF the
United States Bank and the other banks if the Secres.
would only put this loan into proper shape, and give
satisfactory security fer its redemption, he could
two or three individuals who would take the whole of
II. friend and Dor Of his would desire nothing
better than 20 invest one million two millions in CO.
individuals in Philadelphia county in Mont gomery and
caster and in the Secretarys county Of Ale
ghany, whs were able and willing to subscribe largely
to government lean nay, if Watar Forward would
himself 20 forward, daughter he sud fnd difficult
~ in procuring the amount. This country was not
bankrupt, as had been represented to be- and her diff
culies only oecasioned the want of confidence
He told by alae President of the United States that
he lad been written TO by foreign capitalists of extern
sve to inform him that they would furnish this
government with funds to extent at per cent the
lean was put at long date. This was wnen the 6nsn
L. Europe capital seldom realizes per \ and the
great landed proprietos the Dukes OF Northumberland
amount to five hundred Thousand pounds and upwards
annually, do not realize more than and half per
cent The great object Of capitalists was permanency
and un5oubted security He had said that the condition
OF our finances and currency such that chaos had
come again, and he, for one, not very sorry,
because he was assured that the darkness would be
sosn dipeled, like the mist before the morning
The dangers but skin Deep and they need only to
lock them in the face and they would vanish. He was
but he thought that the present disastrous condition Of
our currency and banking institutions prov iden
tia interpssten against greater dangers He thought
that the day OF redemption partial redemption least
was at hand and he thought the present the proper
to present for its adoption which would aid
in accomplishing it, The administration says does
noon b 20 any parry s .r gu, hsn
would b. successful Only by bold and decided mea
sures. BY telling the country the difficulties which
dy them. Not such as the bill now before them for
II that was passed, no one was so short sighted,
called for before the close of the session gush
ed senator Clay) said at the close Of the last session.
that there would be another loan of sixteen millions
md he af
his prediction He was opposed to the connection Of
the Covers nent with bankers and brokers' and though
care Of themselves, and leave the country to take
care Of i,sel. He had hoped tbs Governme Mt had
breaches to reunion. He was of opinion that parties
were in a state of decomposition, and that new ones
would be formed, and under these circumstances, he
thought the Administration had committed q great
mistake. He had regretted to hear a remark Of q
distinguished member of the Administration, (Mr
Webster,) repeated ON this floor by the venerable
gentlemen from Massachusetts, (Mr. Adsms) that the
martial strains of England passed round the globe AZ
if to deprecate war with that power of which he
imagined there was a possibility But there would
he war, and IL it should he dreaded not the
result The resources of this country such that
II called forth to their full extent were Infinitely
better able put them in they were TO nut
us in danger. He wruld not detan the committee
chaos would he produced world q, they youlda II
Ike to inhabi,a wsrd Of confidence prosperit y and
happiness
Alter numerous motions for the committee TO rise for
adjournment, &c. &c, amidst grsat the cues.
ton was called for on the motion to strike the enact
ing, which the chairman decided of order An
appeal was taken. but ultimately withdraw as W as
lisa the motion to strike out the enacting clause The
committee then, after much confusion, neg stived Mr.
Arnod's amendment to extend the issue of Treasury
Notes. and also an amendment which had been offered
by Mr.. Underwood.
Mr.. GLMER then moved 50 to amend the prevso ms M
make the five million Of treasury notes to issued BY
this bill part of the twelve millions authorised to be
raised by loan which was agreed to-
Several verbal amendments were offered amidst much
confusion, some oil which were adopted and others
jected.
Mr. GonDAS then spoke the general question: at the
end Of whose remarks the Commute agreed to rise and
report the bill. This having been done
MIR. FILLMORE hoped the House would agree by gene
raj consent ("agresd.) He however made the motion
PRO ferma and the House then adjourned At O'Clock
House tomorrow morning
CHATHAM THEATRE Mr. Hill has been payi.g
his round of Yankee characters at this house during
the week with much success. Tonight his engage.
ment concludes, ard he calls upon his numerous
friends TO rally, and give him a bumper at parting
The call will be unanimously responded to, if we
have any claim to prophesy. He offers very al.
tractlve bill, such will be sure draw. Mr. Hill
stands preeminent in his peculiar walk of the dra-
ma and his present engagement at the Chatham
gives token of the high rank he enjoys in the es.
ma ton of the public.
OLYMPIC THEATRE -Propitous gales still wait
this bark to the realms of wealth. The house ia
well attended nightly, and Mitchell varies his atrac
llonsin such manner as to secure patronage. On
Tuesday next Mr.. Corbyn takes his benefit. We |
shall a|lude to the occasion again but in the mean
time we would remind his friends TO hold themselves
in readiness.
STaE RASERs.-This pleasing family gave their |
second concert last night, nj the City Hoel. Com
bine with the melody of their performances, the |
novelty OF their exhibitions should meet with more |
ayer than has yet been shown them here -
We think they would find it more to their |
interests TO get more cestrai Location for their con-
certs, and then put the price of admission down to
hall dollar. Try this.
LUMBERrNG ON THE PENoBscor.-There are |
now 500 teams hauling lumber into the PeBobscot |
waters. The expense Of supporting these teams,
Ind running" the lumber, will amount to ono |
million Of dollars, or tive thousand dollars to each
eam. The stumPage at four dollars per Thousand
which is about average Of the prices paid, will
amount to another million Of dollars. The cost Of
he teams il not less than S25O,0OO Thus there IL
invested in the business on the Penobscot alone, a