Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1846-04-16
Iwentp-Nintb Congress,

THE INDEPENDENT TREASURY.

and proceeded TO the consideration OF the Dill 10 pro-
vide for the better organization of the treasury, and
for the collection, safe-keeping, transfer, and dlsburse-
ment of the public revenue.
MI. CALEB b. SMITH moved to amend 1t by adding
the following proviso:
"That nothing herein contained shall be construed
to prevent the Secretary of the Treasury from dePos-
itIng the revenue of the government In any bank or
banks which he may deem expedient, and also to
receive the government dues In the paper OF specie
paying banks.
Mr.. C. B. SMITH occupied his hour passing over a
large range of debate, involving the financial history
of the government for the last 20 or 30 years, and
its muliifarious connexion with the politics and the
diversified interests of the country. of his remarks,
as well as of those of other gentlemen. we give but a
sketch. He said he snatched the present opportunity TO
speak, as he could predict from the indications given that
the majority of this House by whose unanimous vote
he supposed this bill would pass, would feel them
selves justified in forcing the House to a vote under
the previous question upon this bill In less than n
hours. He knew the potent force of the gag he
knew that at the last Congress, when this very same
bill was under consideration, 1t was forced through
without any debate being allowed, under the pretence
that the people had decided the question at the previous
Presidential election. He did not believe the people
decided this matter In the presidential canvass OF 1914.
In his own State they were left entirely In the dark
In regard to this matter, and no individual pretended
TO say, that the sub-treasury was one OF the measures
which would be carried out. He referred to the Bal
timore Convention, of which we had heard so much,
and said, while they had pronounced upon the Texas
and Oregon questions, they had said nothing of this.
In scanning the proceedings OF that Convention you
looked In vain for any reference to the sub-treasury
scheme they had not forgotten the scenes of 1910,
the overwhelming defeat of the party then and they
did not wish to bring before the people a subject upon
which they bad already pronounced their denuncia-
ton, and driven them from power. Alter Mr.. Polk
was elected, this bill was brought forward and passed,
under the previous question, and now 1t was to be
driven through again.
NJ. GEO. S. Houston inquired how long a time
was allowed for the repeal of the sub-treasury by the
9th Congress!
Mr. SMITH replied, some three weeks, he believed,
considered in connexion with the national bank bill.
Mr.. HoUsroN. The bill was passed with but one
speech being allowed.
Mr.. S. having concluded his remarks,
Mr.. Wick addressed the committee as follows: /
had no expectation of obtaining the floor upon the
discussion of this bill and have not now obtained
that grand deslderatum, $50 often sought here in valn,)
with a view to infict upon the committee an hours
speech. I should have been silent were it not that
my honorable colleague Mr.. Smith,, who has just
addressed the ~OmmIttee, has, by his references to
public opinion in Indiana, as he supposesi it to be, made
1t appropriate that some explanation should be given
by a democrat from that State. My colleague has
said, IN substance, that neither in the year 1914, III
the presidential campaign, nor in 1915, in the Con.
gressIoual canvass, did we of the Democratic party
make mention of the design to pass this or any other
bill of the nature of the independent treasury bill Of
the year 1910. My colleague speaks, no doubt
according to his information. l cannot presume to be
positive in setting him right about public opinion il
any part of Indiana except In my own district. In
reference to that district my colleague has been great
ly misinformed. 1t is true that this was not a topic
for exciting discussion On those occasions Those
who voted with the Democratic party In 1910, re
manned in 1914 and 1915 attached to the principle,
of this bill. Those Democrats who in 1910 voted
with the Wing party had had a "sOber secont
thought - they had recoDsidered a batch of question,
and. tbemes-the eXtravagance of expenditure charged
against the Democratic party-the Florida war-th'
standing army OF mon, and the standing army o
dogs-the yold-spoon budget of lies-and the indie
pendent treasury-and had changed their minds upoI
each of these topics, and likewise, honest-heartet
patriots, were anxious TO signalize their change o
opinion by successfully giving their suffrages to thu
men and the measures they had formerly contributed
u defeat. Sir, this was noble. Good men chang'
their course upon conviction. Wise men are opeI
to conviction. Bad men, when convinced, adhere t,
their course from motives of pride and vanity. Fool
never change their minds from conviction. If they
change at all, it is from impulse merely. | may bt
asked how | come to be so well informed as TO thest
matters. | answer, that in 1914, my democratic
friends placed my name upon their ticket of electors
for our State. Consequently | spent that summer
among the people, addressing them on an average
about twice per day from the 1st of May till the Is
of November. 1t is true that | had ner themes for dis
1NN ~ ~DC An " NV Il tCOf
care III my addresses to say, that if the democratic
party should be trusted by the people, the treasury
would be made and kept Independent Of the banks
When 1t did not occur, my opponent, or some one o
the legion OF orators always ready, and 1t seemed t.
me, ever present to oppose and respond to me, wOult
catechise me as to our intentions in reference to the
independent treasury; and | am sure no man can b.
found to say That on any occasion | lodged the ques
ton and sir, if those gentlemen overlooked the
catechising, there were those who did not. | canno
pretend to remember the number of occasions OF
which some good Democratic Wiig-I mean on,
who was a Wing in 1910, never before and nevet
since, and who most likely will never be such again.
would take me out to one side to tell me that tn
Wings bad lied so outrageOusly about every thing
else, he was inclined TO suppose they had lied abou
the sub-treasury. He had been told that it was
scheme to give favorites a chance to run away witt
the public money, but he had ascertained afterwards
on investigation, that 1t was a plan for the safe-keep
ing of the public money, and to keep it out of tia
hands of the bankers. And SIR, my Democratic VIII.
would want 10 know whether, if we succeeded il
electIng Polk and Dallas, we would establish tn
independent treasury. In every instance did | frankl
respond in the affirmative.
Again, in 1S45, my friends made me the candidate
Of the democratic party for the place in this hall, t
which | regret | bring less ability than nv e~xcellen
constituency would well deserve should be enlisted il
their service As a matter of course, | was agai
ain the fed" all last summer till the first of August
and during that time, I had the most conclusive evi
dence of tie change of opinion on this subject. Sir
Twas frequently catechlsed-both by the old democrats
who had stood firm in 1910. and by democrats, VIII
had been " Democratic Wigs in I540-as to m,
vote on this measure, and always promptly gave tn
expected pledge to give it my support. In publ
addresses | rarely neglected to allude to this measur
IS one which we would pass, . of course"
My excellent colleague Mr.. Smith has, in Ian
guage of friendly defiance. called upon those of u