The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-03-30
VS1xnTTDvys COu0RuuU,
rIRsT SESSION.
8nnaRa

vIRsr SESSION.
wAsHuHoroN, March 81, ls4s.
Spring fairly set in. Day warm and cloudy with .
prOspsos Of sn abundance Of rain Thin attendance Of
Senators small reinforcement of strsngsrs in the
Capitol Prayer by Rev Henry slcsr. Journal of FRI
day last
With some discussion upon bill proposing grant Of
hundred serss Of land to the State Of
Mr. Bagy the ground Of it unconstitutionAty, the
bill was laid aside,
On motion of Mr.. ATTENTION and the
LOAN BILL OF $l6 600 600
taksn no as the regular order of the day
Mr.. NILES to the examination Of the subject Of
the finances After some pertinent preliminary 70.
marks, he would ask of the Chairman on Finance If II
Wa intended to INTRODUCES any other
than thus for the RELIEF oil the treasury at the present
Me. ArzsRror did not know. Revenue measures
:urs had BEEN By the Of r..
Treasury in bis report.
bills for raising revenue; but from the relation of
the Senator to the to be concluded from
his reply that other than this loan
de ermined upon This is the measure aud
shall have other. 1t 10 to be . loan-and nothing
more nor less ths borrowing Of the moneys required
He would 60 for the bill. He believed that ell six
teen millions would be required and his only fear
that the would not <h the deficiencies
of the The estimates of the Secretary Of the Trea
judging from experience not entitled much
confidence Still shall not 60 said Mr. Miles, beyond the
records shall take the tables presented for
the amount asked meet the estimated deficiencies for
tue year The treasury must be provided for; and he
was inclined to b.lisve that loan in the long run was
perhaps good II not BETTER than compound Of loans
and treasury notes Mr. Niles spoke in decided terms
of at tho operation OF the
sury act He believed that it had worked wei. in regard
to the trade and exoh ngss of the country
and also in to the finances OF the
This thing, how sver, Of borrowing money pre-
sent and ospeetive deficiencies without adopting
for the redemption Of the debts thus incurred
policy In tbs history Of this government and
too measure introduced for reducing the revenues
to the standard OF tbs revenue system Tho
collected were too large and the smount must be re-
discovered the war breaking out, that larger
venues would be required; but still the same
the revenue Mr. Miles here entered into an allegor
sslaccount Of the suferngs Of Uncle Sam as patient
under tbs Of different quaok DOCTORS each prso
tising different financial disgnosisth democrats
ducing him by system Of leeches, blood letting, and
every sort Of depletion and tho wings stimulating the
between tho two parties Of the old patient
naturally Of good and healthy constitution, had suf
strong and If not trned with might in duo season be
entirely restored Mr. Niles then fr the reports OF
the state Of the fnsnoss for several years pa.t
showing that while our public debt was rapid
~ Increasing from increasing expenditures and ac
cumulstipg loans, tho receipts into the Treasury
were diminishing and that the expectations of
the Secretary OF che Treasury must fail him There
must be an augmentation of the from
to meet the current and prospective liabilities Of the
government Mr.. Niles went largely the details
Of trade, commerce. SO. He showed from the fxures
that exports had been largely reduced the last six
months. compared with the six months preceding
that this reduction likely 60 on-ths prices of
cotton had been reduced ruinousy to our
aud Liverpool aud the Bank Of England could control
the prices of this staple At plsasurethe manufacturing
cent-ths late high prices great demand for our az
rculturs products had passed. and the golden
reaction had come. There must be an immense dimi-
mutton In tho consumption Of importations, and this
tariff Of ls had turned out better than hs sxp.cted
but while the mean per centagc Of its duties
over % per cent or net revenue Of % per
position Of at least 80 per cent L.. us SsVs IT, or
let have income taxa tax billiard tables and
playing cards, or system Of internal contributions
like that in operation in Mexico. The public
had been deluded It time to undeceive them
The debts Of the war would not as the public led
to imagine, be paid with the return Of peace II was
time to unleceivs the people. They fancy that the
finances of the government are in most promising
The chairman finance had said that our resources
from the increase of our population would arrest oil
danger Of national debt but did tho Senator take
into the account the progressive increase of expen
durss Ut the time? Ia consideration OF existing
on account Of the uncertainties of this Mexican war
and the dangers Of being drawn into the revolution
which has burst forth like volcano in Europe Mr.
Niles appealed for substantial measure
approaching to the wants Of the government.
Mr. ATHERroN said that he WAS anxious for the pas
sage of this BILL and shoul' therefore submit but few
remarks Other Senators who had proposed to speak
this BILL had agreed to to the volunteer bill
which would next come up, to pass this
at MIR. A however replied somswh.t in detail
in statistical argument in support of the Secretary
Mr.. MIA; rejoined in support of his view of the de
6ciencies and Of the necessity Of measure of
tusl assistance to the treasury.
Mr.. DAVIS inquired OF the Chairman on Finance, H.
than $los, 900 0O0
the anticipated expenditures Of the treaty $2o 900 000
the deficiencies for this and the next fiscal year
authorized including this bill except some
twenty millions, estimated as the deficiencies for the
next year. GLOWING tae war to 60 on one year longer
(Which would amount to greater cost than treaty of
Psace)
On motion of Mr.. CLAYTON, an amendment was made,
of tbs losn, when due, out of tho treasury.
On notion Of Mr.. HANrEcAr, the Senate went into
executive session.
House OF Representatives..
WAsHINoToN, March 81, ls4s
rHE LATE JOHN QUINCY ADAMS,
The srEAxIR laid before tho House the proceedings
Of the Legislature Of Massachusetts, adopted the
lsth rendering Congress thanks of the com
monwealth for having appointed committee composed
intend the removal Of the remains Of John Quincy
Adams from Washington to the place sepulturs at
9uiICy ana t.styns to tho kind and respectful man.
resolutions were laid upon the table, and ordered to be
The joint resolution to refund to individual, and
states the amounts OF money respectively advanced by
them for the aid and comfort Of volunteers before
and alter they mustered into the service of the
Wednesday next.
REGIMENT BILL
Mr. BoYD i move that the ten regiment BILL from the
Senate be taken up, for the purpose OF reference
t. Let's take 1t up" On, no! the fighting is all
overn1
Mr.. WErrwoRTH-Win 1t not be in order 10 take nm
all the bills the table?
The srEAKrn-The business properly in order is the
message Of the President In relation to tho
given to Mr. Sde and the question is its reference
Mr.. BeYD-I submit the motion, aud, II there be OBJ
lection move q suspension Of the rules
Mr.. STEPHErs-I ask for the yeas and nays
Mr.. THonrsos, Of Mis,isippi-I desire to know for
what purpose? f. The Ten Regiment Bilnl
The sPEAKKR-(In repy) To suspend The rule to
take up out OF order the bill from the Senate to In.
crease the force Of the army.
The yeas and nays were taken and the motion of Mr.
Boyd was neg ativsd- yeas 80 nays s7-not twothird
TIME
Mr. VrToN said that there several special orders
for day and IL important that the House should
make some progress with the appro priation bills
The SPsAKER remarked that there was q resolution
pending. submitted by Mt Mckay, that the daily hour