The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-01-26
CITY OF WASHINGTON TUESDAY NIGHT JANUARY g. 1S47


the Secretary proposed to issue drafts. Had genemeT
duly considered this bill Had they discovered that i
authorized the Secretary to issue these notes for two
wears ana nall ala the termination aS, T 81 the war; By it
how long his var was ID issl Now. this government
who had brought il on called upon them 10 sse rsast
state OF things exhibit. What a spectacle OF a hard
money ctrrency! The government must have the bene,
Mt OF paper currency while the citizens were compelled
to do their business upon specie basis. What special
Gle did this present to the world The effect Of such
course would be that these notes would inevitably depe
cae Was not this, for government which said that thu
eminent that would not trust Il bank for a doar-Tthis
government doing that which they would not have theii
czens do WAS 1t not strange spectacle, indeed? But
those who were responsible The senator from Maine
he should not forget had warned them of it at the last
session lie told them that they would have to resort to
loan He did not like to take Up time in enlaging up
on this subject but those who had the control Of these
matters, could even now, if they were disposed,
avoid the difficulties which were impending They could
and the warehouse bill. Further: if the gentlemen who
were responsible would adopt system Of economy;
they would take such measures would restore the con-
hence of the public, they would get their loan, and the
credit of the country would be revived If the war was
to go on, its expenses ccmulatg and there to be
no new way provided for, nvgorang the reven,e, then
upon them; All he desired was, that the country might
understand it-and they would understand it. They
would the nquitous operation OF this treasury note
oa Sss @oa sh a te b ,e Senate
ourn On this question, the yeas and nays being order
ed; i was az, t, by vote of2i %
disturbed by theghost of Banquo He not surprised
that he sensitive about the subject OF the tariff but
ne dld not intend to refer to it. He simply wished to call
their attention to the state OF the finances OF the country
The gentleman, however had not touched the question
which he had raised II was whether the tariff OF 1876
was competent to produce revenue adequate to the
present exgences whether the policy OF that measure
had not parayzed the action of Congress- and dried W
the resources of the country The gentleman had cha
lenged examination of his financial policy, and
trasted with that OF the Secretary of the Treasury The
on account of his policy that they presented to the
world in such state The finances Of Mexico and the
United States were much aikc-the Meycans trying tc
force their finances and the United States to theirs
He felt mortified at the fact But what the lnancia
resources of the Secretary OF the Treasury What die
ne rely upon for carrying on the war They had already
seen And he asked whether the would 20 on in hi'
way, Did not gentlemen see that they would be com
PEELED TO abandon the war; They might retrea
with honor but by and by they would be compelled te
abandon il for the want oil means to sustain it. Now
had been maintained that they could get revenue
from the customs. This the opinion OF the Secreta
Try Why not' Let them look at the condition of othe
countries, and the history OF their own and their wot
be no necessity for going into an argument on tn
subject The doctrine of low tariff tied up the hands
OF Congress- that they could produce no revenue from
any other source He would sooner impose direct tax
than sanction this loan-a loan sin antcpaton-to us
the words of the honorable chaiman-n anticipation o
the revenue. Then there thing, however L
anticipated deficiency in the treasury; and the quicke
they entered upon judicous for epenishng it
the better He conversant with the public senti
ment to considerable extent, and believed it TO be TIT
prevailing opinion that they should change the mposts
This subject palpabe to all, that every mind mus
see that their finances were inadequate to their wants
and that they were pursuing course which must lead Il
the most distressing and runous evils They would soo
be compelled to resort to imposts and stamp duties
and every species of indirect if not direct taxation Hi
believed that there was very general impression
throughout the country that the financial measures
commended were unwise, and that the was langusb
ing in consequence. The war then must continue 70
another year, at least must be prosecuted in
very different from the which had hitherto bee
pursued Let the treasury then be sustained at al
events.
Mr.. BADGER here moved that the Senate adjourn
The yeas and nays being ordered this question, il wa
decided in the affirmative
SO the Senate then adjourned.