The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-07-15

exalted courage, 6y personal eats OF daring bravery
Was it wrong in me 10 desire 10 do that in which
Col. Johnson had set me the exsmple--of leaving
these halls Of peaceful legislation and seeking IN,
bardshps Of war at the head Of my brave constitu
entsi Was Il wrong 10 me 10 give way 10 the dsr
ling ambition Of Kentnckian for military dislinc
toni, who stand here the representative Of PEG
pie peculiarly and proyerbially warlike in theii
character Look at my district which, at the blas
ofthe trumpet or the late call Of the governor, tura
ed out promptly and without exertion more than
two thousand yolunieers-one county (henton) Of
only 600 voters, offering over 600 brave warriors
and would have doubled the number if necessary
Sir, | feel proud Of such constituents Was | wrosg
10 wish TO place myself in position in which they
might feel proud Of mei
But, sir, enough Of this subject have detained
the House longer than intended. | have no com
plant TO make Of the President because he did not
confer upon me this appointment have never
made any on that score. | did think that, 10 pre-
vent modification and chagrin TO my friends and
myself he should have frankly told US in the begin
ming that he could not appoint member Of Con-
gress TO that regiment. | think SO yet But this,
SIR is but point OF etiquette-imporsnt, il is true,
10 be at all times observed among gentlemen, and
demanded on the present occasion by the position
Of all parties bat the most that ud be made Of il
was that either the President had not studied my
Lord Chesterfield at all, Ia great misfortune TO any
genteman,) or If he had, thai, in the hurry OF bosi-
ness he had forgoten the precepts Of that distn-
gushed gentemana fault il is true, in any gentle-
man, but not an objectionable one.
will conclude, sir, where the matter began. IL
must be apparent 10 all that the President and the
fhy.four-fory men, in regard TO this Oregon ques-
lion staEds IN false position before the country
| have sought the earliest opportunity Of yindica-
ting myself on this subject | hope that the Presi-
dent will be able TO yindicate himself with the peo
pie. No one will be more willing than will be to
defend him IL the facts shall Justify il none will
more surely condemn him il he deserve il. Again,
SIR repeat that will not anticipate, but wait the
rendng OF the veil Of mystery which now hangs
over the subject.
II, SIR, IL shall at any time fall to my lot to CEN
sure the President, or any other person--which
God forbid, assit would be task which would not
cOyet for had always rather speak In praise than
IN blame Of others-the President, or the person
whOmsoeyer II may concern, will have no necessity
to place a forced or false construction upon my Lam
guage, or violate any rule Of the English grammar
10 ascertain my meaning. In such an event, sir,
will endeavor distinctly and clearly 10 set forth
the case that there can be no mistake. will en-
deayor to use an instrument so well tempered, with
an edge so keen, with a hand so steady, and strike
with So good will that search will be necessary
10 find the wound, nor no opinion entertained that
it is "pnny effort" TO use the language Of the
gentleman from Tennessee or the work OF bun
gler Nov, sir IL my judgment dictated to me the
propnety Of such course and IL would seem TO me
usl6ed by the action Of the President, his exalted
station would not shield him, but would, with me,
constitute additional reason why should do
whs, deemed to be my duty; in the performance
Of which would brand him, though he sat en-
ihroned on adamant, and surrounded by hsterers.
Mr.. Mckay briefly explained and defended the
provisions OF the bill IL was founded The said)
upon the recommendation Of the Secretary Of the
Treasury, which he would bring to the notice Of
the committee II was contained in n report made
to the Senate on the 18th Of June last, which, in
case this war with Mexico continues 10 LIST July,
l6I7, estimates that there will be deficiency in
the treasury Of sl2 567 900, and which recommends
that authority be given to issue treasury notes, or
sort to loans, shall be most available to meet
the emergency.
[Mr. Mex. then read the extract, which the re-
porter has not to insert.
Without at all expressing an opinion lhe said as
10 the accuracy Of this estimate Of the Secretary Of
the Treasury, the Committee Of Ways and Means
satisfied, IL the war should be prolonged beyond
the present year, there will be a deficiency in the
treasury; but they have not, in the bill they have
ported authorized either the issue of treasury notes
the negotiation of loan to the amount called for
by the secretary. The committee are in hopes-he
was, as an ndividua--that this war will be speedily
brought to close. He had expressed that opinion
former occasion, and he still adhered TO II; and
he thought the power TO issue treasury notes or ne
gotlate loan to the amount Of Sl00O0,000, was
provision Of ample means for the prosecution OF
the war Till Congress assembled again in December
II it should turn out that the is TO be continued
beyond expectation, of course it will be compe-
tent for Congress to provide other means for its
prosecution. He was fully prepared, If this war
should be continued, to resort to taxation for sup
plies; he would not be willing to resort to treasury
notes or to loans as permanent reliance.
Now what were the provisions Of this bilP 1t
H., D
tation Of loan, to the amount Of ten millions Of
dollars, the amount of each to be determined az the
secretary shall think proper. This power to issue
treasury notes is TO be exercised under the pro- \
visions and limitations of the act of 1887, referred
to in this bill. BY that act note of less denomi-
nation than fifty dollars is to be ssuec; they are to
be signed by the treasurer and countersgned by the
register to bear interest exceeding six per CENT
the rate to be fixed by the Secretary Of the Treasu
ry with the appreciation of the President; and after
being thus regulated they are to be used either in
payment to public creditors for services rendered
or supplies furnished if they think proper to receive
them or the secretary can go into Market and upon
the credit of these notes. instead of by loan, as pro-
posed by the gentleman from Kentucky, Mr.. u.
DAus,l borrow money. These are the purposes
for which they to be used, as specified in the
act Of 1887, 4th section.
Mr. MCKAY read the section.
He advocated this bill or he consented to comforting
THIS authority to issue treasury notes. Simply under
that clause of the constitution which authorizes
Congress to borrow money!" and according to
the disposition which the government has author
lied to be made Of them. II is only form of bor-
rowing money. will not go into the constitution
al question:.
Mr. G. DAVIS inquired if they authorized the
government to pay the public creditors these notes,
and this operation took place, whether 1t was bor-
rowing money, or paying off debit
' Mr.. MCKAY considered it only borrowing
money. For suppose the creditor takes the notes;
they made redeemable at the treasury in one
year after; he has not received much money, but
he Is TO come forward in one year, and then receive
the amount due to him. The notes are redeemable
on presentation in year, and then i is that the
demand against the government is satisfied
But he had said he would not 60 into the consttu.
tonaI question. His friend before him, Mr.. GEN
TRY, admitted that there was no doubt about the
power to issue these treasury notes. They had
been resored by both the great parties which divide
to the country at different periods of our history:
During the of 1919 treasury notes to the amount
Of SIC, 600, 900 and odd were issued From 1887 to
ls43, SAT 900 900 nd odd were issued, and that by
both Of the great parties Of the country.
Mr. Mex. read the various issues making up the
agor.1a,. r-.o,,t ,f u,birh eo,,e O00 0OO woro