The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-06-24

congruity, and this early modlheatloh Vi '~ P'oN
sions proves it to be So anu sue" ""' "Pp'" :"
| He UouId not oppose this bill, nor would he say
that il was unconstitutional but 1t was somewhat IT.
! regular lfthose charged with conducting the pre-,
4 sent war, however, think II necessary, he would
| throw no obstacles in the way.
But on the second reading of so important blll az
| this he would make some observations on the war
ITSELF and on the condition in which we now find
| ourselves placed.
| Unless This war be speedily terminated, no man
can say where it may end. No man can tell the
amount of expense 1t will be to the nation IN us pro-
gress.
We received an important message from the Pres
dent on the 10th of June, with communication
from the Secretary of the Treasury concerning the
ways and means for carrying on this war. On
| these documents he had few remarks 10 offer.
| The Executive is responsible for this war. For
| one he would not deny any supplies which the Ex-
| ecutiye might ask tor carrying II on. Without IN
curing into the origin of the war, the fact that we
| are at war Is sufficiently clear. He would grant
sufficient means now that we are engaged IN II, 10
sustain the honor of the country. Those who con-
denim its origin and most earnestly long for It's ter
mination, all agree that the refusal of supplies will
| neither make amends for what some lament, nor
hasten what all desire.
| The documents referred to inform that there
will be- in round numbers, deficit in the treasury
arising from this war, of twenty millions of dollars
i IOr the nscdl year lofa' lucy also
communicate certain views Of the ways and means
by which this deaeit may be met Their object is
| TO provide new means of revenue TO make up that
deficit between this and the Let Of July, lS47
II is estimated that five millions and half may be
raised by reducing the duty laid certain arti-
cles imported from abroad and by laying tax or
duty upon articles admitted free, meaning prin-
| cipally tea and coffee.
Then, there is an opinion expressed that one mil
lion Of dollars may be raised by the operation of the
warehousng bill, should il become law.
IL is also estimated that by reduction and gradu.
alton Of the price of public lands, the augmentation
Of income from the reduced price would far
terbaance the reduction as TO secure half million Of
dollars in addition to the sums already mentioned.
These several sums being raised would leave n
| balance of sl2, $50, 400 still to be provided for.
This, il is suggested, should be provided for by
loans, by the issue Of treasury notes, and dis.
nc preference is minated for the issue Of treasury
notes. IL is important that Congress SHOULD con-
| slider this subject well before they act. The sub
ject Of revenue is always important, but in
time Of war; and il becomes US TO guard against any
rash or wrong measures at the present time.
A tax ludicously laid on tea and coffee would I'M
doubleday raise considerable revenue; but this de-
Ponds on the kind Of duty imposed and the manner
Of Its imposition on these articles, particularly on
tea. IL the gentlemen at the head of the Commit
tees on Finance and Of Ways and Means in the
Senate and the other branch Of Congress depend on
ad valorem duties tea, they will find themselves
entirely mistaken in their expectations for revenue
With ad valorem duties they will find that tea
made up in Canton for the American market will
become marvelousy cheap. If the duty is laid at
so much per pound, there will be undoubtedly a
large revenue raised from this
Treasury notes may be made available to a con-
siderable amount but TO be useful they should be
issued Immediately. The loss Of a jingle week. or
even Of single day, may be detrimental. They
should be issued before the specie in the treasury
Il - ,.taI ia eha1 L.. - l..
| had said in private TO his honorable friend, the
chairman of the Finance Committee, that he should
bring in a bill for the issue of treasury notes imme-
diately and at once.
Such bills might very properly originate in the
Senate. There is no constitutional improperly in
this course. Measures Of such pressing importance
should not be permitted to lag along in a general
| omnibus bill These two modes Of raising revenue
therefore, may be efficient, but the other measures
| recommended are mere conjectures, and not to be
relied They not sufficiently certain for US
! to rest any hopes upon them. That we could raise
| two three millions Of dollars by reducing duties
| on articles already taxed, he would not say is a
wrong opinion; but il is merely Opinion. II may
so result; for one, he could hardly expect il.
! He could not see how million of dollars was to
| come from the warehousing bill. He could not
conceive how a bill that permitted goods to come
into port and go out again without paying any duty
ould increase the revenue He should like to see
| some details on which to form opinion. At
present he could not comprehend it. So OF
the public land bill. Reducing the price might
enhance the disposition to buy, so as considerably
to increase the amount sold but that that overplus
Of receipts would amount to a million, or halt
million, a quarter Of a million, merely an
opinion. The fact is, if this war continues we
must have substantial taxation, or incur n national
debt.
Our expenses are great. He would not say UNI
necessarily so, at least not at present He had
stated some time ago, what he considered good
authority, that our expenses were half a million of
dollars day. de conversed with eminently
qualified to give an opinion on this, and he
frmed in his former estimate. Some of the features
of the present war are peculiarly expensive partcu
ary the mounted volunteers In document pub.
shed about 1888, Mr.. Poinsett estimated that one
regiment of mounted rhemen cost much as three
regiments of infantry of the same number of men.
These mounted volunteers now raised will cost as
much. They are to be sent to a southern field, to
great distance from home. He would not say
that the expenses would be exrayagent but they
would show themselves to be great.
He had seen, with the greatest pleasure, the spir-
it with which the people rushed to the defence Of
their country. The young men had shown patri-
otto spirit full of enthusiasm and devotion to their
country. So hearty had been the response to the
call, that more volunteers had offered themselves
than were needed.
The money for paying these volunteers should be
promptly raised. We must rely for more than half
the sum on treasury notes or loans In this view Of
the case the sub-treasury bill must be abandoned
What has a sub-treasury administration to do with
treasury notes. The issue or the receipt of treasu-
ry note would be penal under the sub.treasury law.
Some Of the provisions in the law makes it penal
to receive anything but specie The sub-treasury
scheme, then, must be abandoned till government
returns to specie payment He besought gentlemen
not to be deceived about loan. They will not be
able to negotiate loan, if it is with the intention of
locking up the specie in sub-treasury, and thus
Withdrawing 1t from its usual channels. The loan
must be negotiated in the usual way
And now, having said all he wished on these
points, and having expressed his willingness to fur
nish all necessary supplies, he would ask-for it
was time to ask-for what object this war is to be
prosecuted The people willing to sustain the
Executive in carrying on a to defend the honor
Of the country; but if he did not much mis-
read their DESIRE the people wished to know
the object Of carrying this war further. There
is not. a hostile foot upon our soil Our
army, first of observation, then of Occupation,
is now an invading army II s ct this moment en-
camped IN foreign country. The people want
full. and distinct and com hensbIo ,c,ouo, of