The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-08-05
TwENTY-NINTH CONGRESS,
First Session.
TUESDAY,, August 4, 1886.
in SENATE.
Personal EXPLANATION.
The journal having besn read

Mr.. ALLEN rose and called the auehuoh ol the
senator from South Carolina Mr. CALHOUN to
certain reported remarks Of that senator in relation
10 the independent treasury bill, wherein he was rep
resented as declaring himself syerse 10 any restre'
ton being placed upon the circulation OF treasury
drafts Mr. A. said IL was the intention Of himself
and Of those who voted with him, 10 leave the bill
in the state in which il came from the House. so far
as relates these treasury drafts; and he made this
explanation for the purposes showing; first, that he
had proposed no restriction, therefore the statement
that he had done was not true IN point OF iaeti
secondly, TO remove the impression that the treasury
had before issued drafts for circulation and that he
(Mr. A. by restricting the circulation, intended
TO embarrass the administration Of the department
Mr.. CALHOUN said he believed that the report
was substantially correct His opinion IN regard to
the matter that upon first putting IN operation
the system OF separation OF the government from
the banks there ought TO be no restriction imposed
upon the circulation Of the treasury drafts and
none, in point Of fact, thereafter, unless experience
showed that it necessary. There was, IN his
opinion no one objection that could be urged against
putting these drafts into circulation by paying them
10 the government creditor, which would not equally
apply when IL was proposed 10 exchange them for
gold and silver He regretted to be obliged to differ
somewhat upon this point with his friends upon
that side, but he was governed IN this instance, as
in all others, by the convictions Of his judgments
Mr.. BENTON said he knew Of no such use ever
before having been made ofueasury drafts as to al
them away instead Of money. Add he declared that
he regarded IL IA high crime and misdemeanor on
the part ofany Secretary Of the Treasury To propose
such thing as making paper to DO issued by the
government a circulating medium.
Mr.. LEWIS made brief explanation, in the
course OF which he took occasion TO correct mis-.
representation which he said had gone abroad
through the magnetic telegraph, and had been cop
led into all the northern papers; that he (Mr. L.
had proposed, nj the instance OF the Secretary OF
the Treasury, an unlimited issue Of treasury
notes; and that the senator from Missouri had
resisted the proposition. IL was true the sena-
tor from Missouri had imputed this consequence TO
the amendment which he had proposed for the pay
ment Of the treasury drafts TO the public creditors,
but he thought this position OF the honorable senator
from Missouri was controversial. IL was not IN
tended TO have, nor would IL have, any such con-
sequence. These drafts were proposed TO be drawn
upon actual depostes Of money, and paid TO actual
creditors Of the government. They would in this
way enter into circulation none the more than II
they were, as provided by the original bill, ex-
changed for gold and silver. He was opposed to
u government paper circulation, and he had support
ed his amendment expressly on tho ground that II
would not lead to airy such consequence. Yet he
had been represented as proposing an illmitabe Is
sue ofgoyernment paper. lie hoped the hewsPa'
psrs would hereafter do him better justice. Only
one paper (the "Union") had give his former cor
rection Of this Misrepresentation.
Mr.. CALHOUN observed that, as far as he was
himself concerned, he had no apprehension that he
at all exposed to the danger OF being considered
in favor Of paper currency. His views upon this
subject had been expressed too often TO admit OF
being mlsconstrued by any portion OF the commu-
nifty.
Mr. SIMMONS said he was somewhat surprised
10 hear the honorable chairman Of the Finance Com
mittes continue TO express the belief that his amend
men would, If adopted, have afforded no greater IA
ciiies for putting into circulation this paper money,
Ms he called it,
Mr.. LEWIS. Paper money, as others call il.
Mr. SIMMONS. Well, these treasury drafts,
them if under the bill it originally stood they were
10 be exchanged for gold and silver. In the latter
case they were not likely to become currency I'M
less some one would give gold and silver for them
And he believed il would be a rather difficult matter
10 find any one who would do this. But for their
being readily taken for debts due by the government
lie quite sure that many creditor OF the gov
eminent won 10 ,tad to get even draft before
they got thro the difficulties in which they would
soon find the. ives EVOLVED. He thought there
very road distinction between the provisions
Of the bill and the amendment The bill was bad
enough as it now stood, but il would have been still
worse had the amendment prevailed As the bill
came from the House there were various restric-
Mr.. LEWIS. | did not strike out one of them.
proposed additional ones.
Mr.. SIMMONS. There were various restrictions
ntaned in it, and yet the senator set about amend
ny II.
Mr.. LEWIS Yes, by adding other restric-
tons.
Mr.. SIMMONS If the senator believed that
the treasury drafts would have answered their pur-
poses equally well under the clause which permitted
them to be exchanged for gold and silver
Mr.. CASS here interposed upon point Of order.
The bill which was the subject Of this discussion had
passed the Senate. TWAS no longer before them,
and he could see no propriey in discussing it over
again.
tine discussion ceased.
Mr.. HANNEGAN submitted the following reso-
luton; which was agreed to:
Resoped That there be paid out of the contingent fund
of Senate, under the direction of the committee
and control the to each of the messengers assist
Of the Senate the same amounts respectively as were paid
them under resolution of the Senate at the last session
REPORTS FROM COMMITTEES.
Mr.. ATCHlSON, from the Committee on the
Militia, asked that said committee he discharged |
from the further consideration of resolution in
sructing them to inquire into the expediency of or
ganizing and equipplng the military Of the Oregon
territory resolutions of the legislature Of New York
on the subject Of the militia; memorial Of Ross
Snowden and others; and report of the Secretary of
War of the Sd Of February, exhibiting the militia OF
the States and Territories; which was agreed to.
Mr.. DAVIS, from the Committee on Commerce,
reported without amendment the House bill for the
relief of Nathan Smith and others.
Mr.. ID. also, from the same committee, reported
without amendment the House bill for the relief Of
the owner and crew of the schooner Tancred.
APPROPRIATIONS FOR DEFENSIVE WORKS.
Mr.. DIX, from the Committee on Military Az
fairs, reported back without amendment the House
bill making appropriations for certain defensive
works of the United States for the year ending 3oth
June, l847. - ..
Mr.. PEARCE, from the Committee on Pensions,
submitted report upon the House bill for the relief
of Catharne Fulton, Of Washington county, Penn
syvania, recommending that the consideration Of
the subject be postponed indefinitely; which was
agreed to- and the report was ordered to be printed
Mr.. p. also, from the same committee, reported
back House bills for the relief of George Roush,
Jonathan Brown, and Polly Damron, recommend
ing that their further consideration be postponed in
definitely which was agreed TO.
On motion Of Mr. p, the Committee on Pensions
were discharged from the further consideration Of
the petitions of Hector St. John Beetley, Robert
Armstrong, Eliza Buchanan, N. Nye Hall, and VIM.
4. Il II al W.,