Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-02-21
two nar,ies Chose in favor Of assumption and those

opposed to it) stood in very different positions The
postponement Of action would be on the side OF those
IN favor Of assumption. for Il would be considered Us
decision against US lie cialacd, asa matter OF far
ness (Which, lie was sure, gentlemen won'd accofaJ
TO give those who were opposed 10 Sss@mPioh III any
form express vote upon II, that the country meh,
truly understand wha, were the inp!ess"as OF 'hat
body upon subject full OF such aomen.ons cohssqnen
ces They were now standing IN the midst Of extra
ordinary t,mos-thc consequences OF which would run
far beyond the days CT the youngest amongst them
Decide the question one way tine other. All that
he wished was, that early day should be appointed
for taking the vote upon the subject for the longer it
put of, the improbable it would be that they
would get an expression OF opinion And Is the sub
ice, was not unfamiliar to Senators, lie hoped they
would 90 with il 10 morrow, that would afford ample
time investigate and mature Their judgment. VISTA
this view, concured that the Senate. from Mssis
sippi DIR Waiker) he'd The right 10 make the motion
that il he postponed Till tomorrow
Mr. HENDERSON called TO the attention OF tic
Senate fact " inch il uied to him had been over
ooked) that the FIRST time the question Of the assump
ton OF the debts of the States publicly moo,ed,
in the Senate in the session OF 1889, and lSa0,
when lengthy and elaborate discussion arose on reso
lutons which he read from the Journal. These reso-
lutions he considered fall and decaraory on the part
of Congress, any that could be now adopted Iney
were on the Journal Whou, dissenting vote on their
PASSAGE and, not being rescinded, should stand IS the
opinion Of Congress till they were. Nothing new could
be effected by restoration OF the declarnton.-
He gave sketch from his recollection of the proceed
ings on their adoption. Until then, the idea Of the
assumption of the State debts had not even been broach
cd in the newspapers Bat they had not the effect Of
extinpushnr the idea 1t which had since
spread widely through the country. IT, then, the de
caration Of Congress failed TO have the effect anci
pated what effect could be expected from esora-
ton: lie entirely agreed with tie Senator from Penn
sylvania, who had stated has experience, that mere
abstract resolutions effect anything. Yet, if these
resolutions useless as they would be, and impeding as
they did BY their discussion the business OF the session.
were pressed vote he should vote as he did on the
occasion to which he had alluded for his opinions had
undergone change as To the want OF power III this
Governmen. TO assume the debts of the States.
Mr. WALKER sad his colleague wfs greatly mrs
taken ia snpposing that tins question o' assntNpuo"
originated in this Senate, or IN this country No, Sr
il is of foreign birth ii is o. British oTsin Ii crossed
the Ataa.ic in ls30, the form OF an authentic CIR
cular from the British bankers calling for that "ore
comprehensive guaranty OF the assumption OF the
debts OF the States by thls Government. lie as'ump
lion was British, and not an American, proposition ;
and as such It was encountered by the resolutions OF
the Senate in 1899 But this British proposition IS now
70 echoed on this coninentt has been soiemnly nitro
duced by dsiIngu sPd member OF the other House
at this session- appears, IN part IN the resolutions
now before US of the Senator from Maine Mr.. Evans
and OF the Senator from Maryland alr. Merrck j
The proposition must now meet, Is that proposed in
the other House-o distribute two hundred millions OF
stock debt Of this Government among the States, TO
enable them pay their debts This stock is TO bear
an annual interest OF per centu, ard processes TO be-
based in whole, in part the pualc lands. THIS
Government is in debt twenty-eight m'ilious and
this is to add tr hundred millions that debt " have
now national debt Of tweu:y eight millions: We wi!
have this year further deficit os at least SIX millions,
even including the sales OF the public Lands and now,
when we cannot meet the existing debt and eSisngrx
pendtures we are asked 10 add six millions Per
to that debt How is tins TO he PAID The public LANDS
yield but million of net; revenues and yet we are asked
derive from them nett revenue OF SIX millions OF
doars-,hat is, must increase sixoid the revenue
10 be de we'd from the public lands. The lands
sold al 81 % per and now asked, II this
stock is fact 10 be based on the public lands TO IN
crease the price fold other words 10 sell them
ut 81 80 per IT, then, the basng OF this stock
pom the public lands be mere deuson, you must
raise their price from 81 - s. 80 per ecre; or, in
other words, that the CID States to pay their debts
by increasing fold the burdens OF The people OF the
Yves. and Of the States. The Nesi-the opp!es-
sed and neglected West-the West where scarcely che
dollar of the public moneys is expendedis TO b. bur
dened with the paymen: o the debts OF those States
which monopolize all, nearly all, the expenditures OF
this Government by augmeniing SIX ioit the pFice OF
the public lands This IS the result, IT this stock IS, IN
fact based upon The public lands But IS 1t so based:
IL with hundreds of millions of Of the public lands
ov subject 10 entr you sell but eight hundred thou
sand per annum a, 81 % per acre; how much OF
these same lands would sou sell al s. % per acre =
Why, enough 10 pay the expenses OF the land sys-
ten; and in place of deriving SIX millions per annum,
YOU would not receive one dollar OF nett revenue
How then wthou, lacking at the great question cf the
payment OF the priaciyn YOU 10 pay tie n,ons
of annual interest Is by direct taxation by this Go
vernment , How would this alleviate the burden I'M
less Won made the unequal and unjust By taxing all
the States pay the debts Of bot part OF the States:
And derived from the public lands or direct taxa
ton, what the only remaining resonrse: why, to
derive an additional Of millions per annum
TO meet the interest alone by increasing the tariff and
ultimately many millions more 10 discharge the princi
pal Can you do it when you have an existing debt OF
twenty eight millions, and cannot pay the interest Of
that debt much less tbe principal and your annual ex
pendtures from the lands and tariff combined This,
then, is proposition TO bankrupt this Government
But, if you could grind oct OF the people an additional
Yevenue Of six millions per annum, by increasing the
tariff would 1t be constitutional. just, proper: What
fpx the people Of all the States, and the and
exports OF all, 10 pay the debts OF some oil the States
The proposition Of spoi.lion and plumber. Mr.
w further addressed the Senate
Mr.. BAGEY Addressed the Senate for some tine
but not distinctly heard in the gallery. lie wax
understood as having compmentcd the Senator from
Mississippi (Mr. Henderson, for bis vote among The
twenty nine who passed the resolutions, which he
mad read from the journal, in lo39-40. de did not,
however, consider that unanimous vote OF the &c
nate for, although there was only record OF the
affirmative vote, it was very we'll known that many
of the gentlemen the opposite side then, es now
shrunk from committing themselves at all; and with
the exception Of two three Of their party (who
like the Senator from Mississippi, had the hardihood
left the Democracy 10 enter their protest, IN the
face of the world against The mons.rous suppos'ion
that the question could be entertained, without laying
the foundation tor the dissolution Of the Union. He
combatted as un!ounded the assertion, that this was
question not entertained by the opposite party until
lately; and referred to his inaugural message, as
Governor OF Alabama in 1887, in which he denounced
the ncpeut proposition in such terms as had attracted
the notice of distinguished Editor, who, IN COM
,nenting on il, contrased that message with the mes
sages delivered Tie Legislatures of thirteen other
States every of which had passed over the sub
ject.
He referred 10 the letter Of celebrated British banker
TO General HARRISON when President Of the s., and
asked-woud any British banker have dared 10 make
such proposition 10 General Jackson or Mr. Van ta
REM But that letter addressed 10 party III pow
err which tic writer considered pledged 10 the views he
urged; and il followed up BY more definite propo-
sltions the Secretary OF State. British stock
obbers and money changers then undertook 10 teach
the Government OF the u $ the line Of political and
national morality. Yet, nscad Of the rctuke and re-