Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1848-05-13

81 have computed the value Of these exports Pc
Rod in New York, assuming for last years prices Ss 50 for
and for the last period the prices ruling at the present time
The total value of the exports for the first period exceeds
o and those Fl hs last period little more than
eghts for the first period exceed and for the last
less than 900 that the loss the eighs had all
exports and reights for the last six months The facts this
statement taken from the Commercial Shipping List and
are presumed to be substantially correct.
This astonishing decline in exports does afford
very prospect for our trade the coming The
balance against Is the year will be large probably
twelve millions the first quarter"
II thus appears that in six months in the articles Of wheat
corn, -four and meal the exports fell off $40 600 900 Of
000 and that the reghs the the
period than the entire value of the export of the
last period. All this occurring the very time when
these absurd calculations made and presented Con-
gress and although the details known, the general
fact of the great falling off of the domestic exports known
every one and il be incredible that Mr. Waker
whose position gavehm the best Of knowledge, should
have been ignorant of the fact that the very time when he
writing and sending in to Congress these lacious and
deceptive calculations OF the great increase OF EXPORTS
those exports instead Of increasing, had fallen off in
tonishng degree The fact contradctng the theory
the very moment when the theos almost necessarily know
ing the fact was urging his specuaon which were directly
in conflict with them
am greatly tempted by the ample materials furnished by
the report of the Secretary bring forward before rejecting
community The lucubraons Of the Secretary, which, not
public censue for their injurious and dsorganzng tendency
This is however, aside from my present purpose my present
object being not to assa Mr. Walkers principles his es
mates but to point out his mistakes upon his principles
and show the utter disorder and confusion existing, might
be expected, in his Department. 81
So far from there being only occasionally in these
statements of the Treasury Department there Is scarcely
statement Of any amount which given IN relation
to these Treasury reioced that the Committee
Public Expenditures have taken the matter in hand.
that they viii not rtemt her Efforts until the subject
he thoroughly Investigated by .ssnai examination Of
books in the Treasury The officers at the Treasury have
given statements enough No agree and OF them
entitled to the least confidence II the committee require
the aid Of clerk the House should at grant IL The
question yey serious consequence and the honor -
well interest Of the nation and Of the head Of the Depart
require that the real facts in this matter should be
tanned and laid before the country this the Of me
Treasury, what inducement held out for fraudulent
agents and officers in all parts Of the country embezze the
funds Of the Government They will naturally suppose that
their small peculatons will pass unnoced In the confusion of
the finances.
have had nothing say on the estimates Of the Secretary
or TO the accrung Those estimates may not
be correct The whole Is Of matter Of conjecture
The calculations Of the most sagacous frequently dsa
pointed while the most reckless person may sometimes guess
right Whenever the Of fact and figures Of
the secreays report pointed out the only answer
that the Secretary has at all events guessed right TO the
future means OF the Government.
II the Secretary Of the Treasury makes mistake Of
millions of dollars in stating the actually received
into the Treasury during the first quarter after he has recev
ed it you told BY bis friends that ata events he give
capital guess what will be received in the next three quar-
ters When another mistake Of million and half Is point
ed out, is al first denied that there l. any mistake and then
Is declared 10 be Of very small Consequence and we
given TO understand that the head Of The Department
much occupied IN conecung about the future that he has
no, time TO inform himself any else Of its present
diion.
may not Mr. Chairman be inappropriate to ask Of those
gentlemen in this House who voted for the Treasurynoe
Of he min If The of Wavs
Means to the war bill OF the majority, how has happened
that the friends OF the Administration in the Senate preferred
the bill to tho subtuiehe loan to Treasury notes AT the
OF the Secretary Of the Treasury the honorable gentle
men Of the minority Of The Committee Of Means
exceedingly earnest and imprisoned on the subject
II was indeed, somewhat difficult for my honorable friend
from New York. [Mr NcoLI,) with all his ability and nse-
nuity, TO show the importance OF substitute (Which the
amount authorized 10 be outstanding under all acts limit
ed TO $40 000 1000, and the amount at the time outstanding
was $780, 000 could only authorize issue at the tms
OF half million Of dollars in Treasury notes, and when the
only mode Of increasing the Of Treasury by
other being exchanged for stock Of the very character
provided to be issued under the loan bill Tha, honorable
gentleman made the most ingenious and plausible defence in
his power but with Of the friends Of the Administration
In the House OF Representatives seemed be enough tina,
the plan the project Of the great fnsncer the head OF
the Treasury. The majority in this House charged with
design TO enbarrass the Administration in carving on this
besutifu with Mexico. The organ. gave the PITCH
and all the smaller instruments forth their dscordsn
notes. Landowners and Hunkers, the "Hards" and the
" Softs, the "Chiyairy and Wlmot Pfovso found
subject which all could sgree and that denun
cation OF the facious spirit Of the Mexican Wings the
courteous editor Of the Union calls his political opponents
The cautious, able, and prudent chairman Of the Committee
Of Ways and Means considered the "chief traitor
and the condng Democrats in the wds OF Maine and Iowa,
the HuJson and the Columbia rivers all quarters Of
"our free and happy country" have been led look upon
my friend a monster" Of " frghtfu mein. The
indignant responses 70 the appeals in this House, and un
scupulous attacks Of the Official newspaper, just seen
returning from the remote regions Of the country They
must be exceedingly agreeable friends the other side
Of the House.
II notorious fact that there but very few gentlemen
this House who have any confidence whatever in the
tcal sk and wisdom Of the Secretary Of the Treasury and
yet he seems 10 change them about with the utmost He
recommends substitute Of Treasury notes for loan, and
consents to such restrictions 10 render nugasoy The
venerable exchsrman Of the Committee Of Ways and Means
(Mr. McKar) introduces the with due sclemuty
receives every Democratic vote in the House. bu, is lost
When reaches the Senate the friends Of the Administration.
and Mr. Walker himself does think the loan bill bad
bill after ALL The Of Treasury notes. which the
Secretary thought VITAL he entirely abandons The
Committee Of Finance Of the Senate, accordance with his
views viii be Denied report back the very ksn Till
which this House had passed amid the denuncaors Of the
leaders Of the Administration, and Democratic
without murmur. These changes sir easier from
their frequency The President has accustomed his friends
to these sudden and unexpected movements sn must do
them the credit to say that they far patient and sub
missve than on some former occasions.