The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-02-16
WEDNESDAY, FEBRUARY Is, 1915
HOUSE OF REPREsENTATIV

HOUSE OF REPRESENTATIVES,.
TERMINATION
The journal having been read
Mr. EVANS, of Maryland rose to privileged ques-
On and moved the reconsideration OF the vote of yeser
day. by which the resolution TO terminate debate in Com
mittee of the Whole on the loan bill adopted
| Mr. HENLEY moved to lay this motion on the table
which lost by the report of ellers-a affirmative S.
negative g.
The question then required on the motion to reconsd-
ana hESY s Saemanasa the yeas and wh,
were ordered.
Mr. BURT moved call of the House upon which
question the yeas and nays were demanded, and result
ed-Yeas 65, nays los.
The question recurring upon the motion to reconsider
the yeas and nays were taken, with the following
sult-yeas SO, nays 50.
The House then resolved itself into Committee of the
Whole the state of the Union Mr. Boris the chair
and resumed the consideration of the bill to authorize
loan not TO exceed eighteen million five hundred thou
Mr. MOREHEAD, who was entitled to the floor, COM
menced his address to the committee by proposing
make frank expression of his views with reference to
the bill under consideration He felt and acknowledged
the fu force of the demand TO provide supplies TO
the obligations of government imposed by law, and was
willing TO vote the amount; and, while he knew that
such also the general feeling of the Committee of
Ways and Means, (of which he had the honor to be
humble member,) it had been source of surprise and
regret to him to observe the workings of systematic
tempt to produce the false impression upon the country,
that the restriction OF the sale of certificates six per
cent had been the result OF actous feeling the part
| of the majority of this House. In view of this, he
thought brief aluson to facts might not be inappro-
pirate
At the commencement of the session. we had laid on our
tables the printed estimates OF the Secretary of the
Treasury, embracing, what might be supposed, all the
demands OF that depaim Tor the ensuing fiscal year,
as well as tor the DEFICIENCY in the appropriation othe
at first unaccompanied with the tables) that there
was would be at the end of the year, excess of
expenditures beyond the means in the treasury and that
an additional of UPWARDS of millions
would be required 10 meet this deficiency A loan was
asked for this letter of the Secretary of eighteen mil
lions and half TO the treasury deficit the 3Oth
of June next
These were the subjects to which our attention was
called but we had necessarily to investigate the subject
Tor ourselves that might know what would be the
real and true deficit, order to to conclusion
to the amount which should be granted for this loan
The committee felt that this investigation due no
less to the country than to the position which they
pied. But before these investigations entered upon
the committee informed of the necessity of i'm
treasury for five hundred thousand dollars from Mexico
and although the committee were wholly without the
means of investigating the of this deficiency, yet,
rather than the country shonored by having this draft
protested reported bill, graningnot the five hundred
thousand dollarsno the precise amount asked for, but
sum which was supposed to be sufficient to cover all
present drafts and eXlgencies, amounting to million
OF dollars and the bill passed almost
ported.
| We then commenced the Investigations In looking
over the lists, found deficiency in the Quaremas-
er's department, set down in round numbers at five mil
lions of dollarsan item not given in the estimates pre-
viously submitted In that same book of estimates it
stated that additional allowance included for
the pay of larger number of troops.
MIR. NJ. proceeded to show that the amount of the
Deficiencies was greater than the Secretary Of the Treas
ury had represented. The committee had labored day
and night to ascertain the number of treasury paid
in, funded and outstanding. The committee could not
make the statement balance from the tables but under
the statement furnished to the committee they reported
the bill to authorize loan of eighteen and half mil
lions. Subsequently it ascertained that clerk had
omitted means to the amount of eight nine millions
If the Secretary did not know what amount would be
necessary to carry the operations of the government
till the end of the year, how could the committee know
There disposition to make this bill opportunity
to oppose the administration. The opponents of the adj
minstraon could seek other occasions for that purpose
But it said that the committee denied to the admin
asked Who o was the author Of this Bill who u would oed
father the bantng He had himself no'prde in regard
to its paternity The Secretary of the Treasury had him
self prepared the bill just as it stood but the COM
mttee struck out the provision respecting treasury notes.
&c This the main feature OF the difference between
the committee and the Secretary. The Secretary himself
put in the restriction of six per cent He would like to
know how six per cent stock could be taken at
par, when the SKIES now IN market were below par?
But the Secretary might have better light on this sub
ect He (Mr NJ agreed to the restriction of six per
cent. He supposed that the Secretary knew how
he to get the money for six per cent. stock.
1t was known that the mines in Mexico belonged to
English capitalists and cost 10 per cent to send specie
to the coast had been subject of boast by the official
paper. that bills government had been sold in
Mexico nj per cent discount 1t might be- therefore,
that the Secretary could make arrangement with per-
sons connected with the mines, who would be glad to
the expense OF transporting the specie England
The Of the quick ver mines in Spain exported
quicksilver to the amount OF millions to the Mexican
mines This would, perhaps present opportunity for
favorable financial arrangement The amount OF the
loan had been reduced by the Secretary to sixteen and
half millions. He (Mr. NJ believed in bis conscience
that the sum was small but he would not oppose the
bill on that account He referred to the estimates in or
der to show the probable amount of the deficiencies
The Secretary had stated in December, 1s47 that the
amount of the deficiency would be nineteen millions, If
the war was continued to the 3Oh June, 1s4s; but he
wanted loan of twenty three millions, in order TO be
enabled to keep in the treasury to meet contingent
cies
Mr. M went on to argue that the estimates of receipts
and expenditures for the fiscal year, upon which the above
statement was founded, erroneous The exPendi
lures were under estimated by four Millions and the re
cepts were over estmaed-thus making error in the
result of thirteen millions Instead Of loan OF twenty
three millions. which he said would cover all the eX-
penditues including those of the up to June 3oth
lsis he should have asked for loan OF thynine mil
lions. tie (Mr. Nj willing to make all allowances
Tor the d'fcuy OF making estimates but, with the most
liberal and charitable disposition which should be extend
ed TO men in public Office. he say that the defcien
cy in the estimates for the next year will be greater than
It is the present year. Allowing that obtain three
and half millions for lands, and four hundred thousand