Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1848-02-04


and treasury notes, 2,250,s77 ls
Treasury notes out
standing 267,l39 81
The whole expenditure will be 5s,6i56G0 OF
Leaving IN excess Of expenditures
over means, LIST July, lsis si5,729,Iit 81
When the war commenced we had a
surplus Of twelve millions in the treasury,
and Congress adopted new financial meas
ures, which were expected by the Admins
uation TO improve the condition Of the
Irea'ury. But we have spent the twelve
millions surplus and the current revenues
which we have received, increased as they
are said To have been by the new tariff, be-
sides thifiy.eieht millions, according to my
computation of loans and treasury notes =
Ia January las; The Secretary came 10 Us
FOR twenty-ihree millions, which he said would
be ample. But in month he asked for
authority TO reissue Eve millions of treasury
notes, and now another loan Of eighteen
and a half millions is demanded for the
service OF the present year. ] apprehend
ii will be necessary TO raise more than that
for the excess Of expenditure in the year
lSt0. This is a woful state Of things.
venture TO say that il you continue your
military operations as they are now con-
Quoted. before eighteen months. either your
treasury will be bankrupt or you will be
obliged to adopt some new and extraordina-
~ financial measures. for one, shall be
prepared for the crisis
l, is not Just, sir. that the coming gene.
ration should suffer for the folly Of the
present. II is not Just to keep glory for
The present age and taxes for the next II
you will have the glory you ought TO have
The taxes along with il. | believe the only
way TO bring the pe,ple to Just sense Of
the enormity Of this war, is to let them feel
the cost Of il. My colleague spoke Of the
revenue to be derived from Mexico, and
veniured the opinion that the war could be
sustained in this way without the cost Of a
dollar T. our Treasury. But is it to be ex.
peeted that Mexico ia her present depressed
condition--kept down by an enemy. hold
ing her powerful towns. hei
conntry-her industry paralyzed her trade
and business broken up-her people ground
10 the dust by military oppression. will fur.
nish anything like the amount which he ha:
represented as aceruing TO her treasury in
time OF prosperity You won't get dollar
/
the bayonel He speaks Of the duty up0E
contracts, and says that they might now he
stamped by your authority. and that thus I
considerable revenue would be Obtained
But, sir, they will not make these contracts
especially where there is a probability, TIM
il made they will be invalidated, when the
present state Of things shall terminate. Sir
this is all illusion, and il you could get th,
whole revenue which Mexico raised in
period Of peace aud prosperity, you woult
get but twenty lone millions, and your mill
tary operations are costing you nearly hlil
millions. The Secretary Of The Treasury
sang,iine as he is, does not estimate thes
resources half so high as my colleague.
He has not been able. he says, to obtaii
. any reliable statement Of the amount Of du
ties realized in Mexico on exports. TIL
duties OH specie might amount to half
, million. The receipts from duties on i'm
ports, in a time OF peace, have varied fror
six TO twelve millions What probabilt
is there that there would be half the frs
sum, when our armies were covering th
, whole country?
Even the secretary thinks thai no larg
I portion Of the internal revenue could
collected under our military aud he. wit
! all his eagerness to present favorable yie'
of this project, admits that he has n
: sufficient data on which TO base any Teliabl
Q estimate as TO this source nf revenue. s
e that caution the country against thes
0 delusive conlectures.
Q As for the 10000 men proposed by III
bill, | will not vote for one Of them.
II believe with the Senator from KY, N
}. Crittenden, that we have troops enough e
d all the legitimate purposes Of this war, an
: more than enough and while | would M
d deny them food and clothing, would NJ
!. now give for The war another soldier until
G saw disposition on the part Of the exec
q tive 10 bring about peace.
10 | look at the honor Of the country in
l. different aspect from that in which il seen
e 10 be regarded by some Senators, TO who
g | do not impuie any other than patriot
n motives. ! think they are entirely mlsta
81 en-. For myself, am willing to take Il
81 reproach Of consistent dullness, by adhe
Is ing 10 The doctrines which have here a
ot nounced, and refusing TO vote a man mo
= until see a better disposition on the pa
y, of the Executive TO make peace. belle
I'd that the favorable opportunity to make pea
re was allowed TO pass unimproycd. belle
ID that if this government had not demands
st too much, they could have made pea
is perfectly satisfactory to the country, nj
~ that it still may be obtained on just Al
I'd honorable terms. will not increase I
IN forces in Mexico for the purpose Of ov'
at running and annexing the country.
of would be lasting reproach 10 US to do
wish to see the United States disposed
lis settle this controversy in spirit Of ma
lis nanimiiy, more glorious even than all
n. victories we nave gained.
We