Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1847-01-09


the details Of that law at present but the question which
wished present TO the Senate and the country was this
and grave queston-wheher that law or any other
intended the basis of system state of peace
ought to ramme the action Of the Houses of Congress
when state OF peace longer existedwhep the ccum
stances Of the country entirely changed whether Con
gress ought in consequence of the existence Of that law
stand before the world view Of foreign countries and Of tn
whole American people, being entirely poweess th
subject of for the OF the Govern time
war. That the question which he wished TO submit
Now what the scheme which presented to the
sderation OF Congress supply the Treasury time whe
the country engaged in expensive IL appears
be supposed that the action Of Congress ccumscbed
that their hands tied up, that there nothing remain
ing which they could look for but the small
meager list Of free articles With regard to that he had
particular objection to placing duty upon those articles tha
duty would not touch the question OF the protective policy
that had been already disposed Of The list of free articles
heretofore had usually comprehended the material thu
element of the industry of the country but now that descp
lion of article had been brought within the list OF articles tax
ed and there nothing remaining but two articles OF uni
versal consumption, tea and coffee.
As he had already stated he for one had no particular OBJ
lection to upon those articles but admitting that such
imposed, hough it appeared this was not to be
done,) he asked would it be adequate to tue wants o.
the Government Was il really worthy OF serious de-
bate Was it matter worthy of being submitted by the
Executive branch of this Government to Congress for It's con-
sideraon as means of nvgoratng and sustaining our
revenue in time Of war In connexion with other sources
of revenue would be certainly worthy OF attention but
standing alone he thought altogether too insignificant
In what condition they placed After the COM
encemen Of war; be remembered for such was the iac-
time when and the experience the sagacy and states
naship of all nations had sanctioned the pocy the state OF
The finances of country should be placed IN condition cor
RESPONDING in reasonable degree least to the expend
lures that country they to go on and make no prov
sion at all for increasing their III proportion their
expenditures increased Were they going to make no pro-
vision at all for the extraordinary expenditures occasioned by
believe the credit
try could be sustained under of things like this They
tod in the official report OF the highest financial officer
Of the Government that the expenditures OF the past
fty-se millions, and be thought they might
safely conclude that the expenditures of the present year, if
any thing was be DONE seemed contemplated increase
forces in order prosecute the with vgor and energy,
cooking the expected result, would not be less than sixty
Millions Where their to meet this expenditure
Why, they told by the Secretary that there might be
wenty eight millions derived from the customs, and about
hee millions and half he believed from the public lands
jut he feared that these estimates overstaed that they
would be fulfilled estimates very uncertain things
The Secretary, year ago, estimated the receipts from the
ubc lands at about million Of dollars less than his estimate
this year. Why was that He thought il could be ac-
ouned for in ways At the time of the former estimate
the policy OF the Secretary, in order TO maintain the
ry undertake 10 show that the income of the Government
falling of, which falling off he attributed to the tariff act
1912. But il was unnecessary TO take up the time with
matter present He believed that the receipts of the
government over-esmated, and that the expenditures
undersated by several millions Of dollars In any view
il there would be deficiency of about thryfve millions,
nd this deficiency must be met in way This thirty
We millions in connexon with the existing debt of some
eyeneen millions, would make debt Of upwards of fifty
billions at the close of the present year. Why, the war
ontnued, and they this rate, adding thirty five
lons yearly together with the interest upon these sums
that would be the result Indeed it seemed to be the settled
ocy of the Executive branch of this Government carry
this exclusively by loans without providing any add
onal revenue, in any shape form whatever. Well, sir,
continued Mr. MILES, am totally opposed to any such
olcy ! opposed 10 it destructive of the powers Of
his Government and nimcal the prosecution of the
itself am for vigorous prosecution of this war, and
believe that the first thing to be done, and without which
very thing else will be unavaing j., to nvigorae your
treasury have which is adapted to the condition
# the country. believe that, in the present state OF your
Treasury, this must langush. And sir, must say
hat extraordinarily inclined to believe that the feeble
of condition has been owing to the emptiness Of
he Treasury and this alone Why not these
ten regiments called for earlier period Why they
not forming part OF army Why not that army
this put condition strike decisive blow, at any
rate during the present favorable Of the year 1t canno
be done wait another year and, sir, know
Of but the eebeness Of the Treasury why have
been in condition to act with force adequate to tn
object in view. attribute it to that, and to that alone.
Well how will it end, il we go in this way2 Will on
condition improve Will it not become worse and worse
every day We may continue obtain loans, though there
10 be doubt about ability TO do There
still, think way in which obtain loans, and tina
way only by sanctoning and circulating paper currency
Of this Government By of Treasury and TIN
Government paper may obtain loans from the Of thu
people, but obtain them from capitalists with th,
restrictions which exist in what called the Independan
Treasury We undoubtedly obtain loans in the way
have said, but these loans must have limit Is il for
TO be supposed that they could go in this way
without knowing when this have end relynl
solely and entirely upon loans, without providing any add
tona meet the interest upon these loans Why
every that tho credit Of the Government viii
sink II cannot be sustained in Of action of hi
kind II is impossible that could be otherwise There
no such example in history, either in in that Of
any other nation debt increasing at the rate Of thirty y
millions year, without providing single dollar to meet III,
interest those loans Sir this is strange state of things
There apparent Inconsistency the recommendations
Of the President year ago. We then engaged in
controversies with foreign Powers either of which,
seemed to be the opinion OF the Executive might have result
ed IN disturbing the peace Of this country Well, sir,
might naturally have been supposed that the desire OF the Elk
ecuve would lie TO show those nations that rcad
ness IT became necessary, 10 resort to the last extremity
This would TO he obvious policy and TO do this,
to be expected that he would suggest the consideration
Of Congress the propety Of strengthening and increasing h
finances of the country order be prepared for
this kind if ii could not be avoided Bot instead Of this thu
Executive recommended modification of the revenue laws
And for what purpose With view 10 increase the reve
nue. No. sir but with view to reduction of the
nue., least reduction of duties had always sup
posed that the affairs of Government like those Of ndyi
dual required that the of the finances should be looked
70 before commencing any enterprise, undertaking
whehs they equal the demand that would be made
upon them. But this part of the policy Of the pre-
sent Executive for when became actually engaged il
warwhen the matter longer doubtful, but war hat
actually commenced, To my utter establishment
pressed upon reduce the revenue. said the tin