The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-02-02

point of view, and I wish TO adopt no measures
which will endanger the whole Well, then, Mr.
President, what are we to DO Are there no mean
aud that is TO wait peacefully; II Is time, time
which is acting for US, and II We will have the wis
dom TO stand still, she will do all the work for us
cheapy, and without hoddng a drop OF blood Yes
sir, our population is daily increasing west, add go
ing on the principle OF compound ratio, how soon
will il be filled up We can hardly realize the
pidity with which the West is being settled.
Mr.. G. went tn show the progress OF cviiza
flon westward since his own remembrance ano
since his hrst appearance in Congress, and predicted
ITS continued march for the future.
But, Mr. President, If the time had already arrived
IN the present state of this country, In the present
condition OF our government, viewed POLITICALLY o.
with reference to It's finances, would not favo
this measure Sir, the government IS EMBARRASSED
beyond precedent. Politically, what is us oitua
ton But that has been so eloquently described by
my colleague, that will not add another word, ex
cept to say that we now stand IN three partles-the
executive in possession OF the executive depart
ment; the other party in possession OF Congress,
and the third by results of the last election in posses
sion of the country We are clogged up-we can
not move. But, sir, turn to the finances and
must say that | never have cast my eyes IN thai
direction for the last year or two, without feeling
of the deepest solicitude Look at our situation
Our credit gone, our debt in tive years swelled up
TO thirty millions OF dollars, our revenue falling
worse every day; the imports OF the last quarter
amounting to less than nine millions, and still
smaller prospect for the present quarter. A the
end of this year our deot will be forty millions
OF dollars the interest of which will more than cover
the income from the government lands The
whole burden government thrown upon commerce
and that commence already jaded and worn down
by the burdens cast upon her Where is the money
to come from to sustain this grand designl put it
to the honorable Senator from New Orleans from
whence II is TO come?
But suppose Great Britain does resist, as every
man who knows the pride of that country must
know that she will. Suppose that she does resist,
how then are you to proceed? Howare you TO find
the ways and means to be used? Will you resort TO
internal taxes, now in this state OF general depres
sion, and when six States of the Union are already
deeply in debt!
Mr.. c. alluded to the huctuating policy of our Co.
vernment with regard to tariff duties, &C., and its
agency in producing the present arrangements, &c.
He referred to the course OF preceding administra-
tons this subject, as evidence of their approval
OF the existing stir ulations. On the authority of the
great and wise men composing those Administra-
tons, he urged that we proceed farther lest we
make applicable to ourselves the Spanish proverb -
Twas well
Would be better
Took physc
And here lie.
After some explanations between Mr.. Calhoun
and Mr.. Linn, Mr.. Phelps obtained the floor, and
occupied II Tor about halt an hour in reply 10 MIR. G.
and others, and in advocacy of the bill.
The question was put over till to morrow (when
it will probably be decidedly at request of Mr. Rves,
who is expected 10 close the debate And the SEN
ate adjourned
The whole of the Loan, about $50, 500, OOO has
been taken UP, by Mr.. John Ward, Of New York
Inc most splendid party this season was gwen this
1t was brilliant in the extreme. About 206 of the
most lovely women from all parts of the country
were there and about $50 members of the House,
and 30 Senators Mr. Webster and lady, Count
Bodsco and his beautiful lady, all the Foreisn Min
listers, and all the fashion, beauty and talent of the
city, were there. W. II. A.