The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-02-08


adverse report in the OF Henry Reeks; lad ON the
table.
SENATE BILLS.
The SPEAKER (by nlmous consent) took from his
table Senate bills of the following titles which were
orally read twice and disposed OF as follows, to wit
An act 10 extend the provisions of the existing
laws 10 enlisted men OF the ordnance corps OF the United
States read twice, and referred to the Committee ON
Revolutionary Pensions.
An act to allow further time for satisfying claims for
bounty lands Tor military services III The late war with
Great Britain and for other purposes read twice, and
referred TO the Committee on Public Lands
An act to provide additional examiners IN The Patent
Office, and Tor other purposes read twice. and alter de-
bate upon the question OF ITS immediate passage, referred
! to the Committee on Patents.
An act making appropriation for removing obstruc-
tons IN The Savannah river referred 10 the COMMITTEE
on Commerce
An act for the relief of Peter Capela, administrators OF
Andrew Capella, deceased and for the relief of Elijah
Petty and Hannah Petty, his wife, heirs of John Beardon,
deceased referred TO the Committee on the Judiciary
An act in addition to act for the relief OF Walter
| Looms and Abel Gay, approved July 2, 1886 read
twice, and referred 10 the Committee of Claims.
An act amending the act entitled An act granting half
Pay 10 widows or orphans where their husbands and
fathers have died OF wounds received in the military
vice of the United States" in of deceased officers
and soldiers Of the militia and volunteers, passed July A.,
1886 read twice, and referred to the Committee Rev
dictionary Pensions
An act confirming former sales by the State of Illinois
of the Ohio Saline reservations, and authorizing the sale
OF The residue of such reservations read twice, and
ferred 10 the Committee on Public Lands
An act for the relief OF Charles s. Dell referred TO the
Committee on Military Affairs,
An act for the relief of Richard s. Coke: read twice.
and referred to the Committee on the Judiciary.
An aci 10 enable and authorize the accounting officers
OF the treasury to audit and settle the accounts OF certain
aclng ohcers therein mentioned: read twice, and refer
| red 10 the Committee on Naval Affairs
An act for the relief of Edward Bolon read twice. and
referred to the Committee of Claims.
An act for the relief of Nathaniel Hoggatt: read twice
ana referred TO the Committee Private Land Claims
MESSAGE FROM THE PRESIDENT THE UNITED
The SPEAKER laid before the House message from
Al IL L..
piance with the House resolution of the 31st January
last the correspondence in relation to the settlement of
the difficulties with Great Britain relative to rough rice
| or paddy
On motion Of Mr.. VlNTON, the House now resolved
itself into Committee of the Whole the state of the
Union, (Mr Boris the chair and took up the consid
Grafton of the bill authorizing the loan of the sum of
eighteen million five hundred thousand dollars.
Mr.. VlNTON and Mr.. G. S. HOUSTON addressed the
Chair at the ne but the chairman recognised the
Mr.. HOUSTON With the permission of the gentle
man from Ohio. desire to move amendment to the bill
Mr.. VINTON. | myself desire to amend
ment move to strike out from the sixth and seventh
lines OF the first section OF the bill the words eighteen
million five hundred thousand dollars" and insert in the
place of them, the words "siyteen Millions
Mr. V then proceeded and said: AT the last session of
Congress, when it the duty of the Executive fur
nsh estimates of the of the government for the
present sca Dear, the Secretary of the Treasury and the
President of the United States informed this body that
the sum of twenty three millions would be required to
carry the forward till the first day of July
nexleavng balance the treasury at that time of four
millions. loan for this amount was then recommended
and granted by Congress- and the money obtained
AT the commencement Of the present session, the Secre-
tary OF the Treasury his annual report and the Pres
dent OF the United States in his annual message to Con-
yress, informed this House that further loan of eighteen
and half millions would be necessary to meet the wants
and the bill before the House reported for tho loan
of that sum- in conformity TO the recommendation of the
President Shortly after this bill reported-perhaps
ha mo oy-- OmUnun Inn vuou mad 10
gress by the acting Secretary of the Treasury informing
of the fortunate discovery of nearly millions OF
the of revenue in the treasury beyond what
supposed to be there at the time of the annual commune
cation from that department and recommending that the
loan be reduced from eighteen millions and half to
twelve millions.
unfortunately discovered that estimate for the current
amounting to about four millions OF dollars had been
made by the War Department, and transmitted to the
Committee of Ways and Means, of which the Treasury
Department had not been appriZed and therenpon the
Secretary of the Treasury communicated to the Commit
lee of Ways ana Means his information of this fact and
asked that the loan be put sixteen millions instead of
twelve millions: and the motion which Mr. V. had
submitted was prelicated this last Recommendation
from the Treasury Department. and proceeded on the
uppostnn that they had corrected all the mistakes
and supplied all the omissions
From the estimates now before us, it would appear
that at the last session OF Congress, when this money
should have been provided, the recommendation of the
Executive instead OF being fer loan of twenty three
millions should have been for forty millions This great
IL
mperonsy the duty OF this House calculate and
hnize the estimates now submitted, that may
whether The provisions required will meet the wants
of the government He was persuaded that, instead of
sixteen mil ions being adequate for that purpose it would
turn out that from twenty two millions to twenty. five
millions would be necessary to meet the wants OF the
government for the present year Instead of twenty mil
Ions and haf-whlch was the estimate of the EXec,i.
tive The greatly feared that, careful examination
of the subject it would appear that not less than thirty
eight ons and half would be necessary and should
be provided at the present session.
This mistake OF Understanding the expenditures for
cause, it the loan of forty millions had been authorized,
instead of the twenty three Millions there would have
been difficulty in taking up the loan to that amount
at that time. This was rendered certain by the fact that
the loan of fifty millions offered; and If this
had been raised at that time. when specie worth
more than paper there would have been need of dis
urbng the credit OF the country by the proposition
before the House.
Mr.. v. thought also that the President and his Secre-
tary male great mistake rs to the manner in which
this loan was taken for instead Of issuing certificates
OF stock, the Secretary OF the Treasuryjust at the
ment, he says when he had divorced the government
from the banks-on the LIST OF January twelve months
ayoso exceedingly anxious the Secretary exhibit
the operations of his new system of finance that he su
ed for this sum between twenty and thirty millions of dol
lars in promlssoy notes commonly called treasury notes
He should have oreseen that whenever time of scarcity
OF specie should these notes would come back ON
him. Such was, unfortunately, the condition of things
at this Some three fouths or more of the reve
OF the country, instead of being paid in money
being paid back in the treasury notes issued at that
time Mr.. V. characterized that act of the Secretary OF
The Treasury as great financial blunder or mistake