Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1846-07-18

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to borrow money easy He had supposed that his
friends the entertained horror against Debt and
that nothing but the most necessity would compel
them 10 contract one But here they mourning debt
while they going augnenng their expenditures and
at the time abandoning certain Of in
stead of augmenng their He say that he
before or heard of so extraordinary proceeding How
would they manage when the became due Were they
to be ressued If not the Government could not be carried
for thee months. This the condition Of things in
1897 The Secretary of the Treasury them, and in
peous asked for relief from the embarrassment under
which the Treasury abored by the issue OF Treasury notes.
He told them II but anticipating the revenue, and that
there would be abundant for the payment Of those notes
when they became due but instead OF This being the
the notes returned into the houses and he
forced to again 10 Congress, and to confess that his
scheme did work, and that he still out Of money
Congress gave him the power reissue the notes. and this
practice had been kept up since Suppose it had been
refused, would the whole country have ruDg with denun
Citations against Congress for refusing to provide that exped
enti He put it to the gentleman to say how otherwise
they were to do They might abandon their revenue they
pleased and borrow money TO replace but he could tell
them that they would pay dollar Of redeem
their credit restore the Treasury fourshng state,
til they restored the duties which they abandoning
They might PROSTATE the financial affairs of the country, and
to others to restore them, had been done beoe
would be the first time that the of restoring prosperity
and epenishng the Treasury had devoved upon the Wing
party who generally remained power loEg enough to eff
this and then displaced by their opponents, who
took great credit to themselves for sku management He
had intended touch all upon these when
he He had thought nay, he had almost vowed he
would not again speak of the financial affairs OF the country
He would have been glad, nevertheless TO have had time TO
examine the esn of the Secretary of the Treasury He
perceived that they published in this mornings Union
and that the Secretary states that his estimate is the result
Of many months of aboous research and inquiry aided by
all the tables of imports Of each article at the respective rates
of duty under every tariff from the organization OF the Gov
eminent to the presest period and that in addition to the
information furnished by these tables the Department has
deemed duty from anxious soctude to arrive at cor
rect results in matter vitality affecting the revenue OF the
Government and all the great interests of the country, TO
confer with gentlemen OF skill and experience, not only Ill
the Treasury but also with others residing in the great mer
camille cities Of the Union, whose could be obtained
| without unnecessary delay"
He had doubt that the Secretary had been most abo
rousy, assduouy employed in this matter for long
time and he entitled great credit therefor He took
great pleasure saying that he believed the Secretary had
to reach the TRUTH and that he had perfect con-
vcon of the business his and the soundness of the
conclusions which he had arrived but he must be permit
ted point certain misapprehensons In this
amended estimate of the Secretary which were apparent at
| the very first view.
Mr. SEWER called the honorable Senator to Order It
altogether irrelevant to discuss the subject OF the ta,
the Senate having under its consideration the bill relating to
Treasury notes and loans.
Mr. EVANS said he was not discussing the tariff. He
showing that the of the Government would not be
sufficient meet the payment OF those Treasury notes. that
what he about do and he must be permitted to
point what seemed to him most extraordinary fallacy
and he surprised beyond that had occurred
into which the Secretary had fallen He quite certain
and papabe that could have been designed msead
any body.
M Z here entered into examination of the calcula
tons and the Secretary, showing very large
discrepancy between the result arrived by the Secretary and
the result of calculations made by himself founded upon the
same basis.
This, them Continued Mr. is to be the condition Of the
Treasury according their showing. How, them was
the of these Treasury notes to be provided or but
he wanted say word two as to the manner IN
which tables had been made up The object OF the
4 L. th,a dypI
venue the bill that be repealed and he got at this
by saying they allow eight and per cent for
the increase of population from the both june ls4o the
Both November s47 But suppose the present tanif law
were not repealed would there be the increase
Give (sad Mr. E increase of eight and onesxth per
cent with present BILL and we will keep two or three
millions ahead. And what is somewhat extraordinary, too
the Secretary in his estimate makes all goods that come into
the country by Of this increase dutiabe
Again. ask how will you meet the payment OF your irea-
sury notes You will by the policy which are pur-
suing have said however, that the wants of the Treasury
very great and, therefore, think that this bill ought TO
pass But sir do not think that the Secretary OF the Irea
uy has given the most favorable estimate for himself ana
if can help him le and make things look little
be,ter feel bound do it. In the report OF the Secretary
which communicated Congress by the President ON the
18th of June he goes into examination OF the condition
of the Treasury.
mr. E. here proceeded to show that underestimate OF
the available funds in Treasury had been made amount
ing to several millions Of dollars
But Notwithstanding all this, Che sad in view OF the pre-
extraordinary expenditures of the Government even
they passed this bill for the issue Of Treasury notes, there
would be absolute necessity for extra session TO pass
another similar BILL else it would have to be the hs hng
Cf deerred) at the next session OF Congress
He had felt bound to trespass upon the time OF the senate
order make these explanations and 10 warn gentlemen
the other side of the rocks upon which they were about 10
suffer shpwreck The Treasury must unavodaby be greatly
embarrassed and he hoped therefore, that they would devise
early and prompt that embarrassment
Mr.. BENTON roe he said, not for the purpose OF resist
the progress of the bill but of leading the Senate TO re-
fact. fho anfc reati
reissue of Treasury notes. because assmi-
lated itself to banking transaction. 1t bad policy to
system of this kind the commencement OF the
If they put it upon its legs and enabled 10
walk would begin TO and there would De an ac
emulation of burdens to be borne by posey The proper
policy raise money first by taxation and resort to
temporary of paper only when that found INSULT
cent. He moved to strike out the clause authorizing the
reissue of the
On motion of Mr.. LEWIS, the further consideration Of
this bill postponed until tomorrow and the hour having
arrived for the consideration Of the special order
THE NEW TARIFF BILL,
Prepared the Treasury Department and which passed the
House OF Representatives with notifications now un-
dergong elaborate discussion the Senate in which the
plans and estimates Of the Department severely scrunized
The length Of this debate prevents any further notice OF
for the present in a weekly sheet.
KILLING THE DRuSKARDs.-Deaths by inoxication
ntempeance are this than we ever
noticed before It is probably owing to the
bad quality of the liquor sold by Dealers being nothing
but the poisonous alcohol ITSELF favored colored to repre-
genuine articles may be owing TO the new license
laws which prohibit the sale Of liquor in small quantities. and
thar IN