The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1848-03-01
ssEEJH OF mr. vINToN,
on THE LOAN BH.L-THE FINANCES.
Dekssrsd IN ths House Of Representatives..
FsLzszry sik, ISIS.
OF ONO,

Dekssred IN the House Of Representatives..
Fs5r5Izry siA, 1878.
Mr.. VISrox said AT the commence
ment Of The last session NJ Congress. when
il was The duty Of the Executive to Ie-
commend. and If Congress 10 provide, for
the wants Of the present fiscal year. the
President Of the UUiled States, in his an.
puai message. aud he Secretary ef The
'irea-nry, 10 his annual report. both sta
ted that. il the war with Mexico should
he continued ill the Isl Of July, A. ID.
ls4s, loan OF iweniy-three millions Of
dnliars vas ali that would he wanted to car
~ the Government forward 10 that date,
and le I've surplus OF four millions in the
Treasury. Both these flnciionnriss re
commended The loan. Ii was granted by
Congress and the money ATTAINED.
Bas, notwithstanding tAis provision for
the Government. the Secretary Of ihe
Treasury. in his annual report 10 Congress
Ol the stale Of the finances. made al the
conmencemeni OF The present session, had
informed ne that further loan Of eighteen
aud half millions of dollars would be
required 10 meet the expenses Of The GO
yemmeni for Ihe same year. Tie hill
nov before us was reported Tor that sum.
IN pursuance 10 this sialemen; Of the Sc
cretary aud the Recommendation OF The
Presiien, in his annual message. Short
Is aller il,e bill was reported. perhaps on
the sane dav. letter was addressed 10
the Speaker cf the House BY the aching
Secretary Of the Treasury, giving infor-
nation 10 the House Of the fortunate dis
rorerv &c an error in the financial state
m.nt presented al The commencement OF
The session, which disclosed the gaiifying
fari ii Il there were in the Treasury, sub
iscs 10. Its eommapl, near seyen millions
IL dollars more than bad been stated in
the prior report; in consequence OF which
tae ii use was informed that the loan
Guild be reduced from eighteen and haf
10 twelve millions of dollars.
A few days since. however, another let
ter was Transmitted TO the House by the
came Officer. conveying the unpleasant in
relligenre that when the last letter was adj
dre.-e 10 The House !, was not known al
the Treasury Department that The Secre-
iary Of war had called upon the Commit
lee of WAYS and Means for an appropri
alton al near four millions Of dollars, To
supply certain defcieacies in that branch
az Inc public service for the current fiscal
,ear. which would render loan Of sixteen
millions necessary to meet the wants OF the
Government. Presenting the errors 10 be
al corrected. and The omissions supplied
which The Treasury desires To provide for
he had now submitted the motion 10 re-
daee the loan 70 sixteen millions in acsor
aance 10 tie Executive recommendation
lie had made this motion. BECAUSE the Sc
rreiare Of The Treasury does mol ask more
and M, from belief OF his own that thi:
sum viii suffice ID carry ihe Government
10 the Isl &c July, when new fiscal yea
cap nsaees. On the ceniFasv, he feared
and indeed he might say il was his opin
ian, that instead Of sixteen. from twent,
twenty-five millions would be wanted
! 10 carry Us safely on 10 the end OF thli
wear. And il the war shall coDiInu'
through the next fiscal year, for which TN
estimates now lie before Us, a further loai
will be necessary Of not less than from
thiriy-iige 10 thirty eight millions, sFen i
Congress should refuse TO add TO the army
any part o. Thirty Ihousaad regulars ana
volunteers recommended BY the President
lie was aware li,ere was very wide dif.
terence between lhis sum, and iweaiy AM
q half millions, whicl, The Secretary ant
The President of the United States hasl
txld us is all lI:al will be needed for the mex
,car--gssa, and oppressive np,n the coun
iry n eYsa that enormous sum must b.
f,inited is be. lie knew this opinion
III appear 10 lie seiy bala ann yls.'f'a
~ n him. when put foris u oppas'io'
10 ihai 81 the highest officers O y ia
,isn ana 10 proceed from some parry bis'
which Ind warped aud blinded his belts
jad.neat. But as lsi! ihs. he had some