The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-01-27

mucn wer Ne Or, tnat wnen uesy oe0~
MIR CLArroS said. that here was b,,, a. ss 10
tysght millions Of treasury notes. and ne snoua as ~
the black and white which the Ssns'er v ,h s.crs
sppi had spoken Of having received IRON sns
tary Of the Treasury, in behalf OF inc 'Pes''
Mr. srrroHr replied that the BLACK snd white nIM
tr ur~;n~ that the bin be passed without delay Thu
was ths black and white Of which he had spoken
MIN c,.yros said he should like to see that Let
ter or hear il and then to remark upoI
he the basis Of the public lands especial
~ with the proposed application Of the scheme Of rsduc
rrjoined 10 defence Of the schemes Of IRE
an and Of graduation. There were now lao QUO ooG
acres OF land ke and 600 600 900 to which the In
ss sa Of credit And the scheme Of graduation BY bring
ing the lands rapidly into market would increase
the from that source instead Of diminishing
them Mr. speight answered MIR. Niles, and con-
tended that the government upon the verge Of
bankruptcy but tina, all such PsrvssiOns of the state Of
fectly fallacous The government could borrow any
amount of money
Mr. CAMERON commended that this scheme was only an
issue and reissue OF Treasury notes keeping up pa.
per circulation which R wa; EQUIVALENT a. fer ss went
with reluctance and only because of the necessities
Of the Treasury pending a state Of war.
Mr SEVER was Of the opinion that the Senator from
Connecticut MR. Niles and the Senator from Psnnsyva-
the tariff Of IA No money bill could be presented but
,hsv out and declare that they had predicted this
Sdaa s sd%s The dcpss Of the Treasury would
be the same state Of never has been and never
can be supported by the revenues from the customs
Geptlem en- may talk much as they please about the
tariff Of 12 My opinion that 1t Is dead and dead for
ever. 49,
Mr. LEWIS complained OF indsposition, but still no
was cop,traned to give the Senator from Maine (Mr
va m Tbs sesns o the month Of
Decenbe last show increase over the previous De-
csmber under the act of IA of about 20 per cent at the
New York custom house and as far as ascertaned the
receipts from the up to the 10th OF the present
month show that this increase is still going on He had
favorable operation Of the act Of as loan will be OBJ
taned the favorable Indeed, he believed
We can get any amount Of money at any time
HINT AT AN kxrHA SESSION
Mr.. EvArs ssid il loan could be obtained Of any
amount at any tme then there necessity Of Dor.
sury notes to than that amount. There was Ger.
tny in this view necessity for issue OF Sas 600 600
in paper But he argued that the was different "a
voice ia the crowd IS Mr.. Evans was progressing III
be id If Essns isn't scrouger" Well, he is,
hossu The bill il framed upon different calculation
The Secretary knows we'll the difficulties that must at
tend the procuring Of future loans Government scrip
was now down to OK, and suppose you increnss by
twenty thirty millions the amount of this paper is it
probabs II will increase in value7 Mr. Evans next pass
cd to Retrospective view Of the broken down credit OF
the government, when the wings came into power In al
and showed how they were denounced for proposing
tau on tea and coffee being tax upon the poor and
how they avoided that tax; and how they relic we'd the
Of s; and left surplus in the treasury for this admins
traton to begin with OF $2 900 600 and then he returned
present nsolvent condition snd the natural
ohese loans You cannot calculate upon funding these
notes while the war lasts. You must keep your paper
adoat for you have money The very first thing re-
quirsd at the next session Of Congress in December al
unless Congress should Of necessity be called together
before that period will be another batch Of treasury
Mr. Evans said he would not be here himself bu
felt assured that such would be the fact He maintained
the but Of SIS ccc So might rssdy Ss
tanned Instead of s. 900 700 from tea and coffee yol
might by specific duty get So 600 ooo and then yo'
have wifully thrown away million aad q hall upoI
MIR. yoMrsos, OF Louisiana.-Yes sir two millions
AMI nolas.es thrown away revenue of million and
half and half million upon salt; and million and
upon wine and spirits You may raise your revenues
S96 GEO. 600. Do So raise your revenues abandon tina
other scheIae which, in ceasipg to be mischievous onl
becomes the moro ride ulousyour sub.treasury ant
you may expect to weather the storm Now, cal
very readily for the ncrease in the receipts thu
far under the tariff the act IF ~ II al
nits Of very plain solution. Mr.. Evans hen pro
ceeded tshow that it was from favoring winds which
SM.G inc SHIPS Into port ana from the ware
OF AZ, but which were now brought into MAJ ket
and the duties paid upon them. He had expected
temporary and A. ttious increase not greater. Re
curing to the act OF IA Mr. Evans said might devove
and restore the revenues OF the government by res,or
tbs general principles Of that act; and then what will
you 90 with such Dill here Why, sr you will pas,
war continues. your paper mast continue TO depreciate
and some substantial expedsnt than your prssen
system OF loans must Of necessity be adopted.
Mr.. HuNrIroroS followed Mr. Evans in argumen
upon the same sde but particularly in elabo
rate exposition Of the inevitab depreciation Of tht
paper under the existing state OF things tina
w. the war coItnued a. there was every prospect tina
would continue, and no reliable or sufficient revenue
system adopted, there every prospect tina
none would be adopted. After which,
motion was made to adjourn, upon which the aye
and noes we're called. Yeas %, nays as Lost by
AsorHra ONSLAUGHT NJ Mr.. NILES.
time Of the speeches Of Mr. Niles Of the Senate, shcw
pendent debaters in Congress. We scarcely know Of
who speaks to the point all the time than doe
the democratic Senator from Connecticut
Mr.. MES disposed to let the bill proceed withou
further interruptions but the remarks of the Senator
Alabama, (Mr Lewis) rendered it necessary that he
should say few words to set himself right They
fer sir to the tariff Of IA and to having othe
object than to revive that act do not wish TO revive
that act. only wish system somewhat adapt.
cd to the expenditures Of the Treasury The act of 49,
to say the least of it, sir was unfortunate measure
and very badly timed look upon 1t, SIR solely and
entirely as financial. consider that protec.
look at il as the Snsncs policy OF the Secretary s
Treasury policy OF reducing the revenues at the very
time you are increasing your expenses Are we tn adopt
rowing system Of the government of Mexico II does
seem to me that in respect to finances the two
uous brs very mucn auke very much auke, Inc
only material difference u.s. that they their people
out Of their money and we are trying the expedsnt Of
ooaxng ours. They coercs theirs and ours
With the country in state OF war, what system could
be better adapted to PROSTATE finances than the ped
ding policy you have adopted None sir If our poll:
csl enemies from factious opposition had succeeded
in time Of war in passing your present revenue system
they would have deserved more lasting infamy than
the Hartford Convention. But with eyes open and
the in actual existence, have done il ourselves
But shall we persist in the error7 You find
your stocks running down from lis to 90 Do
nm mi All ndn vnffr md
the war goes ONT You may retreat
with some prospect Of PREPARATION but you persist
in this system, you must at length abandon it in dis
grace. What has the Secretary of the Treasury pro-
posed to rs AZ a means of sugmenng the revenues?
little paItry tax tea and coe. This is all the
that have received; and this is all that
he could give consistently with his determination to
maintain hs act of '46 Mr. Niles then referred to the
English system Of duties, upon which, in part the Of
's6 was urged upon Congress. The English gov ern-
mont raised its twenty-five millions of pounds sterling
from the customs almost all from five six articles,
such a. tea, coffee, sugar aud tobacco Il is certain
there H. q standard beyond which your will
diminish But 10 just cert ain that the you
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