Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1846-07-20
HOUSE OFREPRESENTATIyES
TREASURY NOTE BlII.


motion was made TO lay the Resolution
upon the table TO close the debate upon the
Treasury Note Bill at IL o'clock to-day. The
motion was lost.
MIR. Ewing moved that the debate end at y
O'Clock tomorrow Instead of IL to.,la;. The
motion was rejected, and the Resolution. as
originally reported by MIR. Mckay, adopted.
The House then went into Committee of
thc Whole on the State OF the Union, Mr.
Gordon of Ky. in the Chair
The Treasury Note Bill Was before the Com.
mittee upon the amendment OF MIR. Davis OF
Ny. 10 require the money necessary for the
Government to be raised 10y loan instead OF
! Treasury notes.
| Mr.. Tibb1tis of Ky. addressed the Com
iEittee at length ia vindica,ion oGhimself and
/ friends Tor the course they took in talking lol
the tariff OF 1872, and voting To destroy II.
MIR. Iibbatts replied TO MIR Wick and Mr.
Stanton, both of whom had arraigned him up
ON tue Tariff Bill. MIR. T. treated these gen
tlem"n much better than they treatcdhm.
Mr.. Mckay restored the discussion upor
the merits OF the Bill and defended the Treas
my Notes as preferable To loan. MIR. Nc
Nay was prepared To resort To taxation If the
war was To be continued, but he had prcparct
his Bill in reference to the next SEES ion o
Congress. Congress could then resort to 1
iOdli IL IL was ucCcSSdfN.
The notes would serve as a currency, am
1t was IN contemplation to issue them of thu
denomination of Fl t. dollars lie thought
that Consress had power 10 j. sue Trcasur,
notes under That clause of the Constitution
which authorised Congress TO borrow money
There could be no doubt OF the power. IL
the waroi 1872, Treasury notes To The amour
oil S51 100000 were issued during tie war
aud from 1897 TO 1913 forty-scyen millions
the last by the two great parties.
These notes had paid an interest of from 81,
To one per cent. There was. however. n,
practical difference in these notes and public
stocks. They were evidences of debt Tn
issue OF Treasury Notes instead of publ,
debt was economical Tor the Governments
The interest upon the notes was not TO ex
coed SIX per cent, and these notes, Mr. McKa,
argued, were not currency, and not incon
sistent with the Sub-Treasury Bill
The deficiency was only temporary one
according To MIR. Mckay, and if the war wa.
TO end soon, the ordinary receipts from the
sales oi land and from imp SIS would pay all
the expenses of the Government. Ii he could
have had his own way, lac would not have
gwen the Secretary of the Treasury power e
issue pro, ostls far st)Ck. He would have
required the Score y OF the Treasury to issue
Treasury notes alone.
Mr. Stanton OF Tenn continued the debate
in reply to Mr.. Tibbatts.
Mr.. Graham briefly opposed the issue o.
Treasury Notes, and argued that MIR. Van Blu
rens Administration Lived, moved and had
lis being through this issue.
MIR. J. II. ngersoll moved an additional
section TO the Bill providing S50.O 900 for the
payment oil Treasury notes held by innocent
persons. * iraudulently issued from the New
| Orleans Custom House. Mr. lngersnll made
| the justice of his amendment so apparent that
1t was accepted by the committee and agreed
TO by the House, by a vote of IS TO 81.
The Bill was passed as amended above + al
of lis to II.
VOLUNTEER BILL.
Inc House then went into Committee of
the Whole upon the Bill making appropria-
ions Tor the support of volunteers and other
troops authorized to be employed in the pros
ecution OF the war with Mexico.
Mr.. Davis OF Ky. moved AN amendment
providing the same payment for volunteers
who had been called out in the several States
under the act of Congress. as it they had been
mustered mtn. ihc.sVCIjee OF Jhe L.. SIaies.
To the hour OF adjournment, and no conclusion
reached upon the Bill.