Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-04-05

III,
&c LEGISLATION and at the very moment oil ai'uoIhg 70
this Circumstances in reference TO Inc proceedings u
others the Senator himself was SEEKING ny 'ne pro-
nos;tinn which he had submitted 10 the senate, mol
only TO break up the Distribution act al.nousn nc
lfbad been heretofore very asslduous IN producing
-, dnt;on hut also break up the operation OF the
Comnrom;se act another measure about which the Sc
major had exhibited extreme sol'cude; one OF the De-
GATORS own measures indeed, and lie might, perhaps
be permtted 10 say it was one OF Inc brightest aufe
VIII ch adorned his brow
,o,s Wb;g measures Undoubtedly they were; and
he mr. R,ves) demonstrated his loyalty TO the wing
nra he seeking 10 maintain them inviolae. But Inc
Senator himself was coming FORWARD ana enoeaVol
inn n break them up And he must be permitted TO
aa ,b,, f The Whip heart of the country was to be
by The proposition which he had submitted or II
The Democratic heart to be wounded ne would re-
re, il extremely But while he was DESTROYS OF avoid
ioo offence he had at the same time higher motive o.
action. namely, regard for the country honol "
was this only which commanded ms allegiance. ne
sorry TO give offence 10 'hose WIN "oii' nc
the honor to but he never intended 10 MAKE
himser the mere slave of any party, or oil any parry
leader The rreat interests oil the country were the
guides of his conduct This was the spirit IN which ne
had ever acted At the same time, he would deeply
regret if his course should give offence to any, Tor ne
desired 10 be at peace with an ianA'nu ou' "o
sderations this kind should, for moment, interfere
with what he considered to he due TO the great interests
of the country And if there was ever time when all
minor considerations should be abandoned, u was a
the present crisis of the affairs OF TINS county
The Senator had declared, that the proposition sug'
gescd By his amendments IN regard 10 lhe aiSPos'.h
of the public lands without any sort OF utility; thai
those lands were not likely TO yield more than NH
lion Of dollars And this assertion he had made in the
very face of the fact which appeared from documents
submitted to Congress during the extra session; that
during the whole period which had elapsed since the
tb cvSfp nj Ian he
average amount has not fallen short OF four millions Of
dollars And after deductng all the necessary expenses
attending the sales, &c, there would be still over 3d.
OG0 000 10 serve basis 10 reesabish the credit Of
the country He had in his possession report OF the
Senator from Kentucky made in 1888, wherein he es
mated tie revenue be derived from the sales Of the
public lands 000 0G0 and yet suited The purpose
of the honorable Senator al this moment TO depEecia'e
the amount, and represent 1t as mere trite, II It be
riGe the u S how much mere is ii tre TO the Sc
veral States when divided among them: But II was
not triile persons having money 10 loan would view
il as a satisfactory security The Senator had talked
about the re.adjustment of the tariff on liberal prn.
ciples but whenever this was 10 be DONE money must
be procured Immediately, or the credit and honor oil the
Government would be still further disgraced in the
eyes of the world. How were they TO obtain loan
alter this practical reputation, without afording some
specific pledge for its repayment? 1t could not be ex-
pecled And there no one who knew better thar
the Senator from Kentucky, that 1t was not mere
increase of the rate of tariff that produced an IN
crease in the amount of revenue. When you in
crease the rate beyond twenty per cent? it becomes
protective tariff, and not tariff for revenue for
amounts TO prohibition The Senator had referred 10 the
facility with which loans had been obtained upon for
mer tariff but had he reflected the different sua-
ton Of affairs? The current ordinary expenditures were
then averaging not than twelve or thirteen mil
lions annually, leaving surplus OF about ten millions
for the exiting ushment of the public debt. But wha,
were the expenses now They swallowed up, also, the
sinking fund, and there was still a deficiency; and
where were they to obtain supplies; Ii would be ne
cessary TO set apart tangible fund for the redemption
of the proposed loan fund eSSe not in prospcc-
tive, or he greatly feared the money would not be OBJ
tanned.
The resurrection of the credit of this Government
never could be effected, in his mind till the land fund
was set apart as provision Of the payment OF the pub
lie debt Until satisfactory provision is made for the
of loans it is hopeless to expect the resurrec-
ton Of the credit of The Government 1t is we'll known
that vast amounts Of money locked up in the Golfers
of capitalists in consequence OF the general disrust
which prevails He did not believe with the Senator
from Kentucky that the depreciation of public credit
was owing the pressure the capital of the country
He believed there abundance Of capital in the coun-
try, and there only want OF confidence which pre-
vented il from coming into use.
He showed from the report made by the Senator from
Kentucky himself in 1882 that he estimated the land
fund ut upwards of three millions, though he wish
cd 10 make appear that they could not be estimated
at one Million
With reference 10 the clause in the Compromise act,
on which the Senator from Kentucky so much relies,
TO show that revenue alone from customs looked TO
for the support of this Government he argued that the
true construction was, that when the resources OF the
Government should fall Short and, with 90 per cent
Of duties could not meet the wants OF an economical
administration, then the tariff might be raised. The
twenty per cent should be first proved to be insuff-
Gent with other sources, before the limit of the Com
promise act could he exceeded Then other sources Of
revenue were dividends and instruments from banks,
debts due, and the land fund.
AS far as he understood the Compromise act, he was
wiling 10 carry it out in good faith and in liberal
spirit The construction which the South put upon the
Compromise act recognized ever since its passage
up the Extra by Congress and az.
uuiesced in by all parties; and never till the Extra SEES.
sion was the question raised Of the of the land fund
by the Government, being violation OF The principle
Of the COMPROMISE act. lie next adverted TO the qnes.
ton at issue Yesterday the suspension of the ope
ration of the Distribution law in relation 10 the land
granted to the new States He could not agree to mix
up the question of the grant Of lands with his amend
ments which related alone 10 revenue.
The Senator from Kentucky asked under what par
,icuar circumstances these propositions he (Mr Rives)
had offered brought forward He would say that
any movement Of Ills wholly unconneced with
any movement at the other end Of the avenue. His
amendments had been offered before the message of the
President had been printed. He had no concert what
the party aspect of this question, he not seeking
to undo anything the Wing party had accomplished a,
the Extra Session; he only seeking to carry out one
of the Wing laws.
Mr.. CLAY did not know why the Senator from
Virginia had exhibited such senslblty in his ouson
TO the remarkable coincidence between his movement
and that in the other House, and at the other end of the
avenue. He did not know why the Senator found II
necessary declare he would not be governed by any
party or any leader. Did he that he (Mr. Clay,)
ever assumed 10 be his leader the leader of any body
ese'
MIR. RIyES explained that he had personal allu-
sion in his remark-it was general.
MIR. CLAY would take the explanation. All the
lead he wished to take, the lead home, to enjoy
rerose He adveried to the Senator's quotation of his
report Of 1898 rs proof that he estimated the fund
from the public lands then at three millions. He de.
med that estimates made nine years ago were opplica.
BILE 10 the present time. The question was, could the
land fund now be relied on for than one million
lie then adver,ed to the charges made against him OF
proposition 10 break in upon Two compromises-one