Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1847-01-30

This of Treasury notes SO far from carving them
TO the end oil another fiscal would carry them TO the
LIST Of January, s48 The fist thing they would have 10 do
the regular sesson-f not Obliged TO call Congress
together be put another batch of Trea
sury Every body in the country was aware of this
and would they be likely to grasp these notes now while
holders of their last stock now struggling to save
themselves from ruinous loss Did they imagine that their
loan could have been taken par had not been the
communications which issued from the War Department
that troops wanted II would have been
done; and this day they would have been without dollar
from that loan had been for the general belief Of those
who took the loan that more troops would be called for
few days afterwards call made for nine regiments
and what the effect Down went the stock. They
might if they pleased provide great extent for the wants
OF the Government by putting duty upon many articles
which were now exempted and making the duties specific
From tea and coffee they might derive five millions from
gar and molasses million half million from salt; and
three ourths of million from wine and spirits This all
thrown away, besides neatly million that they might get
from duty silks and all this without touching the pro-
tectVe policy all Why they willing to bring up
the revenue by proper system Of duties until II amounted TO
thry-fve millions There Of difficulty in doing
this and then abandon those schemes which had mischey
tendency, and they could borrow money to any extent
but they making of these provisions They
saying to the country only living by borrowing from
year to year. without looking thirty days ahead How could
be expected that the public could have confidence such
course II was wrong essentially wrong. II wrong
principle and must be changed before they could expect any
ameioration OF the embarassmen under which they
laboring.
The Senator from Arkansas had told them that they need
not aer themselves with the hope reestabshng pro-
tecive policy that the honorable Senator thought had been
forever crushed Now, suppose (sad Mr. that the
House of Representatives. seeing the Government great
strait should fit to remodel the whole system
the rates Of duty Of the act of s42 and couple with these
duty upon tea and coeeand suppose they feel in
clined to go step further which is not all improbable,
and repeal the system which has been adopted keeping
your money after you have got it, What else they
do when they found that they could get along There
inevitably be Of the old and successful poll
CIV fhgy yag N nd the diura qof
the Government to increasing instead Of being diminish
ed there must necessarily be restoration of the system he
had alluded and the done the better would
be for the credit of the Government There project
Also he believed for raising the pay Of the troops three dol
lars per month This would add million to the
penses Of the Government And there proposed be
paid bounty enlistments.
If gentlemen wanted system by which all their wants
could be supplied all their expenditures provided for let them
agree take the system he had pointed take that whole
system, and they would have what they wanted For
he would vote most cheerully for duty the present free
articles for he exceedingly DESTROYS of preventing the
credit Of the Government from sinking He desired to
the Treasury condition all its necessities, and not
living from day day upon expedens Of this Sort he had
the control he would say that this Congress ought not to adj
journ until they had adopted vigorous for repensh
ing the Treasury if they did this the might be prose
cuted long and successfully any desired Bad
legislation had essened the of the Government and
the capitalists of the country abuse them they might de
them in every sort of way they pleased to them
they for money last and they could hardly expect
v
paying the largest price, because they had good
cy pay their debts WITH and had omitted to provide the
proper resources.
The Senate then Adjourned leaving the bill undsposed of
TUESDAY, JANUARY &c, l847.
On motion Of Mr. sPEIGHT the Senate resumed the
slderaion Of this bill
The pending question being upon the amendment proposed
Mr.. WESTCOTT proposed to substitute for that amend
ment the following to be added proviso
Provided That Treasury shall be sold or disposed
Of in directly indirectly for any less than
the amount of such notes including the principal and interest
thereon when disposed Of I"
Mr.. NILES accepted the proposition in lieu of his own.
Mr. WESTCOTT made some remarks upon the subject Of
the finances generally
Mr. SPEIGHT inquired of the Senator from North Caro-
lima Mr BADGEn) whether it his purpose address the
Senate in relation to this BILL he had n,maton
that effect in Of the morning papers
Mr. BADGER replied that be was sorry to perceive that
there was impression existing consequence of the init
nation referred by the Senaorwhich had been given in
of the morning papers, and which he supposed from
The mere fact Of his having at late hour last evening" made
motion to adounthat he intended to address
this morning He could only say that nothing further
from his ntenton for he not the habit of speaking
upon subjects that he did understand Like the poet
George Coman the younger he would have to say he never
boasted much of his knowledge Of arithmetic He had
intention, therefore, In this presence to take part in discus
slons upon schemes of finance His only purpose in moving
the adjournment get them all off the oor to get
himself on.
Mr.. SPEIGHT then proceeded to make remarks in
reference to the proposed amendment He willing
vote for it. because he could little difference between the
proposition made and the provisions Of the bill itself
The amendment adopted.
Mr.. HUNTINGTON moved to amend the twenty -frst
section limit the period for which power is conferred
the President to issue Treasury notes eighteen months
after the passage of the act instead of months after
exchange and ratification Of treaty of peace with the Repub
lie of Mexico.
The question being taken by yeas and nays, mega
tved follows:
YEAS-Messrs. Archer Badger, Berrien, Cillcy John
VI Clayton. Thos. Clayton Corwn, Crttcnden Davis Day
on Evans Greene, Huntington, Jarnagn Mangum, Miller,
oreheaa Pearce, Phelps, Simmons Upham Westcot and
NAYS-Messrs Allen, Ashley, Atchison Aherton Bagby,
Benton, Breese Bright, Butler, Calhoun Cameron Cass,
Chalmers Dix, Fairfield Hannegan Houston Lewis Mason,
Niles Rusk, Sewer, Spegh Sturgeon Turney, andYuee26
Mr. EVANS then proposed to amend the 18th section by
limiting the issue of in lieu Of those which may be
redeemed to notes received payment public dues prior
heir maturity.
Mr. Evans supported his amendment by observations
He willing give the Secretary the power reissue
hose notes which might in through the
payment Of dues the United States but he would give
him the power purchase the notes par any time he
might see fit, and issue them again the next day.
Mr. CASS after remarks in relation to the operation
this amendment proceeded to observe that good deal had
said the other side Of the chamber about the propey
evyng specific taxes and that without something OF this
sort loan could be obtained All that he had
regard this that this the project the Admin