Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1846-07-18
IN SENATE.-JULY IL, 1916.

On motion of Mr.. LEWIS, the Senate proceeded to the
consideration Of the Treasury note and loan bill.
Mr. EVANS and said that when he requested post
ponement of the consideration of this bill yesterday,
his intention to examine its details carefully whether
it conlormabe to existing laws and whether was
guarded in the usual bills of this description. He
regretted that he had yet had in his power do
he had been able read the BILL but he did rise
oppose Its passage. He did intend TO oppose in any
the contrary he in favor of its passage upess
some evils pointed out in the details Of the bill which
required amendment He favor of its speedy passage
He thought had already been delayed too long, and he
GREETED that those who had charge of the had per-
mied 10 be delayed until the Treasury state of 50
great exgency that they called to pass the bill with
the utmost expedition, order relieve the Government
from embarrassment in its financial operations. This used
to be the mode of proceeding true. He recolected
that in the years 1897 '3S and 49, when being
carried onnot the they engaged
in howeverthere deficiency ofrevenue, and Treasury
notes rcsoried to but not until they obliged to
adopt expeden for supplying the pressing wants of the
Government and il appeared TO be The measure
delayed until they could delay longer and then
if the assent OF Senators withheld from the proposed
measure they charged with obstrucng the operations
of the Government in time of He had hoped that
this practice would be discontinued and that those whose bu
to take that the Treasury should not be
subjected any straits embarrassment would look far
enough ahead and bring forward their at early
period that they might be least examined before they
adopted He hoped that this would be the hereafter.
Honorable Senators the other side would recoect that he
had urged it upon the Committee Of Finance than
month ago to bring forward this II certainly would
have relieved the money market very much, and greatly ia
cilated the operations of the Government For, although
the Government had money enough yet could easily
be drawn out of its repositories and transmitted to distant
places without very great inconvenience and every body
must that would be better have prepared for this
emergency at earlier day He Of those who
entertained any constitutional doubts the power of the
General Government issue Treasury he had advo
Gated their issue against his associates in the other House
when IT found mpracticable procure duties sufficient
for but he could help feeling that they
aggncved in having this delayed until the last mo-
ment, when there opportunity for preparing such
measure they might deem the desirable under the
circumstances But he in favor of the passage OF this
bill because required Immediately, and because he be-
eved that the issue Of Treasury preferable to
tracing loan, which would have the effect of drawing
away capital TO the of such loan from general ccua-
ton whereas Treasury notes added the circulation and
perfectly good aud safe currency unless greater
amount issued than they could keep circulation.
He would support this BILL misunderstanding however, that
the full amount Of millions would be issued, but that
the would be divided between the Of and
lean.
But he could refrain from observing that strange
aclc here presented They found themselves under
mpcous necessity to-day pass this BILL because the rea-
suy in difficulty they found themselves obliged 60
and pass this BILL and issue ten millions of dollars in Treasury
notes, borrow money that amount at the very
when they were proposing to give away eight nine millions
OF dollars of revenue He had always supposed that when
ever the Government contracted debt any form, they
bound to provide for the redemption Of that debt possible
at the time OF contracting it. These notes to be
deemed within year, and he desired be informed by the
chairman Of the Committee Finance how he expected that
they were to be taken up What provision to be made
to meet this debt at the time became due That time would
come and they not prepared to redeem their notes.
they would be paid into the houses and the revenue
would TO that extent be diminished What provision was
intended to he made He had heard Of On the con-
hay instead Of keeping themselves in condition TO meet the