The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-08-01

but willing place this proposed issue of drifts
under the seyerest restrictions
Nh. ALLrN renewed his attack upon the Isper fys-
em-reierrng to the comp ANTS OF Wellington against
biinsh paper Tor the pay Of his army in spain, and
teschihg now the successful wars Of Napoleon
conducted upon the hard money principle; for Napo
leon conducted his operations, neither upon loans
drafts as substitutes Tor but upon the money IL
self Mr.. Allen referred to an article in the Union of
this morning recommending the pay the army Of the
Rio Grande IN paper money, and said that il was not
the right stuff your soldiers the Rio Crande should
be paid on out OF the old military camp chest, The hard
7 silver dollars.
MIR. srrleHr said that lie was glad the Senator from
Ohio had discaimed any intention OF impung design
Mr.. ALLEN-Oh! don't impute intentions Talk about
intentions
provision, and took up, he went along the Indian
transaction, with those broken bank notes in isio
brought into notice by Col Benton yesterday, and iust
Msssrs speght, Evans and Johnson of Mary land had
little incidental conversation by the way upon the de.
preciated paper of the United States Bank
Mr. LEWIS took up the defence of the circulation of
other side was to make the bill as odous as possible that
might be rejected either here before the people
Mr JoH'sos. How about the opposition from your
Missouri '' 'p'"''"' u '' 's"'''' '''"
Mr. LEWIS said they attributable to his peculiar
notions He had opposed the bill for the issue of
treasury notes
Mr. JOHNSON, of Md-How Of the Senator from Ohio
Mr. LEWIS SAID he thought he had answered him.
MI CALHOUN pleaded that the issue Of drafts par
as provided for by this BILL was necessary prevent
great disturbance of the specie circulation.
Mr.. BsNToN feared these drafts might be broken up
into small sums-he had heard that they had been al
ready He was told that even they were broken up
into small sums.
Mr.. LEWIS had seen the Secretary of the Treasury
who said that drafts had recently been issued OF less
denomination than 500.
Mr. Benton had seen one calling for two dollars and
half for balance due some lie would venture TO
that drafts had been employed for every sum from
one dollar up to one hundred Allow these drafts and
they will be sent out in trunks full The bill will lie.
gaizo this business, sir. He was astonished at the
article in last nights Union recommending paper money
for the army OF the Rio Grande These drafts sir II i
of m
black and bank rags They to 60 hand in hand but
who will endorse them sir No, SIR, what is to be done
is to be struggled = Qoud) struggled :. (still ouderl
struggled (at the top of his voice. in by mere in
formal recommendation of the Secretary the TREASURY,
would prefer any trash from Devil creek note up
to demand on the United States to such stuff
drafts sir
Mr. CALHOUN argued that drafts would be very cou-.
venient on Mexico. "
Mr.. thought that the Mexicans knew nothing
of the English language it would be necessary have
an interpreter or translator in every transaction.
MIR. BESTow inquired if the chairman on finance in
referring to his peculiar ideas this Sub Treasury
Mr.. LnwIs.-No sir not at all. intended nothing at
all offensive.
Mr. BENTON referred to certain old speeches of MIR.
Walker in the Senate the old SubTreasury of 81 in
which MIR Walker says, among other oburgations of
Col Benton's hard money notions, " God us from
the wild and ruinous and impracticabe scheme OF the
Senator from Missouri" Mr. Benton said the fact Was
that Mr.. Walker old Uuited States Bank man. p
posed to the specie circular opposed to the removal Of
the deposes and asks loans and drafts carry on
lamp black factory np s. as
The debate sometime prolonged between Aessrs
Webster, Lewis, Calhoun, and others. wh.n the cues
uon was taken on the amendment providing FOL an I'M
limited transfer and use Of drafts and ths proposition
was rejected-l2 to 40.
With the adoption of some other amendme nts tho bill
was agreed TO as amended and ordered,
On motion of Mr. EVANS, to be read q third time to-
morrow at o'clock when he proposes speak upon
the subject.