Weekly national intelligencer., 1848-02-05

0I
proceeds Of the public lands passed bill voting away sixteen
millions Of acres Of public lands bounty lands He made
objection TO that act he yoled for he was willing TO
accord to the men and their wives and children who sacrifice
their lives and health in this that bounty which was due
their services but what he blamed Congress Tor was Tor
not providing other meet the accumulation OF ine
and principal Of this debt The number OF individuals en-
titled 10 bounty lands, the forces which were now called for
put in re9usiun, would moi be short of 100 900 men
they would draw 100000 acres, which, at the minimum
Government price, would amount 10 SGT, ,OOO, O00 How
many years. allowing the income Of the lands obe
year, would be required to take these military land war
Some years. During all that time every gen.
eman must perceive from the sales OF the pub
lie lands is off, and this fund pledged for the redemption
of the principal and interest of the public db-a fund which
produces not enough pay The interest," much less the pn
cpa Of the public debts entirely absorbed, and cannot be
applied the woud go this purpose to which
| il is pledged in the loan bill Of the last session.
He believed had reached point IN the prosecution OF
this and in the finances Of the country which appealed to
the patriotism Of those who brought this war upon the coun
tryhose who stand by the Administration and defend it
he believed had reached crisis which required them to
forward and 81 the paaly oil the American peo-
pie r this by imposing the necessary taxes to meet the
interest and provide for the payment Of the principal OF the
public debt.
He here avowed himself to be in favor Of the plan Of levy
ing direct taxes il this be continued He did not
desire to continue this credit without any means beng
provided the interest the debt to be created
He would ask ii such would be honest Was 1t
Just He not willing 60 year after year IN the
seuon of warto crafty the ambitious designs of our rulers
accommodating national debt for the next generation to pay,
and at the time impose burdens ourselves pro-
vide any means for its redemption II neither Just
honest to do At the of this Government,
in the first report made by the Secretary OF the Treasury
der the administration of Washington, recommendation
made OF this principles which an attempt was made to esiab-
h, that loan should any time be obtained without at
the same time providing the by which the debt should
be paid He would read short extract from that report
Incorporating, fundamental ,n11im in the system Of
public credit of the United Sates that the of debt
should Arrays be accompanied rvh the Of ertgh-
lea that this is the true secret for rendering public credit
immortal; and that it is difficult conceive situation in
which there may not be an adherence to the maxm''
II would need prophet to foree, If continued this
war in this manner year longer that not only would the
stocks OF this Govement be hawked about all street seek
buyers at depreciation, but buyers would be found
We had heard great deal said about the last with Great
Brtain and this has been compared with that Those
who opposed this had been compared TO those
who were opposed to that but there striking differ
between the friends Of the two The friends Of the
last war in Congress willing to meet the crisis like
They not opposed TO the imposition of burdens their
TO meet the expenses of the and during the
first 25 900 raised by internal duties ard
three millions by dec; taxation among the States This
the course then pursued Why do not the friends OF this
war; who tell US the popular with the people, make
such provision meet the expenses incurred The
first thing done BY the friends of the late TO double
the duties imports whereas since this commenced
duties had been cut down fifty cent Surely in this there
was great difference II there necessity for measues
OF that kind at that time, it doubly necessary now
Why the expenses Of this greatly, very greatly be-
yond the expenses of the late with Great Britain. He
would refer TO the Of this Government for period OF
years. embracing the period Of the late with Great B
tan TO show that he correct in this position From the
3ls December, 1911, to the 3lst December 1872 the ex-
penses of this Government SIT s29 49s70 From the
3ls December, 1872 10 the day Of 83 the expenses
S2s, 062 1885, g. From the same day of 1918 to De-
cember 3ls, 1914, they $40, l27 CSC 49, Thus IN
three years. embracing the whole period Of the with Great
Britain the national expenses including all the expenses OF the
war, well the civil establishment, S76 039 5s2 90
Now, what the expenses contracted by this war
The expenses of the Government from the 30h June, sl6,
to the seth June, ls47, S5945l l77 65. That
for period but month after the was begun For
the year from the 30th june si7 10 the 30h june ls4s
the estimated expenses S5S 6l5660 or Aud the es-
imaies for the next year were s55644 94l r. The as-
grcgate for the years 779 A.
the expenditures during the late OF S97 672 81 IA
more fact than double the expenses Of the late o-
the whole aggregate for that he had shown but
s76 5S2 20 They all however must know that these
estimates not Il would be noticed that the Sec
reay Of the Treasury bad estimated the expenses Of this less
than the past year. and for the next less than the present
The expenses Of the first year Of the estimated to be
greater than would be required for subsequent years. when
they had every to believe they would be much higher
IL however the expenses should be only hgh then the
excess would be Si02, ,2l3,95s 95 But did any gentleman
suppose the expenses would be less this than the
last Did not every know that the estimates for those
years eroneousi Nay they absurd. Every
must know that the progressed s expenses would in
crease. They already called upon raise thirty thou
sand troops, and, while calling upon them to do this,
the Executive told them that the could he prosecuted for
less than the past year Did gentlemen believe
lit Would the people Of this country, would any OF
ordinary intelligence believe it What had they done
wards reducing the expenses for the year Had they
decreased the pay Of the soldier Had they diminished the
soldiers raioas Had they cut of any Of the perquses
which the army might claim Had they done any thing
lessen the expense Of this Nothing absolutely nothing
aud yet according the reasoning Of the Executive, may
20 raise armies and all the while the expense shall
/ be less than heretofore. The idea absurd
The gentleman from Norlh Carolina, (M McKar,) who
has served several years the Committee Of Ways and
Means few days since told that after the ended
the ordinary Of the Government would be sufficient
TO pay expense Of the Government and the interest
the debt without other taxation Bot that opinion OF The
gentleman from North Carolina correct Let look for
moment the facts The receipts for the year ending 30h
June 1916 were S29 499 247 06. That raised
thus from customs s26, ,667 81, from public lands
S2694,f52 is, and miscellaneous 500, 2s IL The ex-
eases fo the perod-and they for peace esta-
bllshment, when Democratic Administration carrying
ou IL professions OF reorm-were ia 90 being
excess q receipts expenditures Of AIS 1872 Sc, 1.-THE
revenue Of the Government exceeded the expenditures
small an amount then, what must il be now Did the gen.
teman from North Carolina really believe could bring
down expenditures receps', And how long will
II take . get rid Of the army The additional expense Of the
military establishment would be found TO be immense They
oil knew to he army would be brought down. while
he or any hJe lived the standard at which before
the war began. No could expect it, II then there
only 50 small surplus the time OF which he bad spoken,
whefe were they TO get the TO pay this six millions Of
interest From what it to be derived They