The daily union. [volume] (Washington [D.C.]) 1845-1857, 1850-04-25

evils have exised heretofore Our former adminisira
tons have got along with them. and ! hope the
think il s too he % expect that from temporary IN
convenience will be necessary to yield 70 the influence
Of banks. and fal back upon former course Now,
20 on sucsssa Il 4 tea cannot Be- done IN any other
Mr. DAWSON E Mn i', Hss.is regret = extremely
the State q Louisiana, [Mr. Dowssl He got up and
announced here ID the Senate that the public deposites In
the city Of New Orleans unsafe that they could get
individual who could take the control and management
Of them Instead o seeking that Office each one was
trying to avoid it and were time after time trying TO resign
50 that the government bad to endeavor 70 persuade
treasurer notified the government that after the rs OF
April he would positively Decline and there would be the
public depostes of the country without any guaranty for
The prorrisy Il sis Committee On Finance examining
into the subject whether the particular place and
ne ne hs 3 hs would y
prudent to place the funds In banking institution
Now. sir, where Is the error in ali that Instead Of
on saS Il
Mr. DowSs.l that we can get man BY increasing the
salarese $4,000 be put down TO the services OF
individual $4,000 will be amplehe takes another
course. Does he make any suggestion Of that kind
He speaks Of the present existing difficulty; and when
ask the Committee Finance to look at the subject and
stances. the public security does not demand in
mediate interference by dcPosting IN the banks the
gentleman gets up some of the old issues between
ject Of this suggestion Of this remark Il was to lead
to PRACTICAL beneficial results, with view to secure
the public interest and the public fund Now. where Y
the Improperly Of ii! submit, with all Kindness, that
becomes exceedingly necessary that banking nstu-
tons should be engaged place OF depose venture
the prediction that ne has an amount q money more
than he could wish carry about his person. he would
prefer to deposte with some banking association rather
than with anindvidaal venture the prediction that II
be was informed that the product q crops was waiting
home tor him, he would think might be proper to be
placed in bank, with view to security Now, where Is
The error doing for the mint OF the city Of New Orleans
Do Il re- Relations 10 liz own ss TR what had
erence to- in Offering this suggestion The history OF the
case shows that the party issues were NOT a all upon this
side OF the house The gentleman understands my posi-
ton upon the banking institution. need not explain il
But understand he makes the difficulty that the bonds
were not reduced II the money had been lost, what
Now repeat, then, Sir. that the part Of wisdom
and duty il the public money to the amount Of mil
million dollars, or perhaps Two millions and haf, o.
three millions, in the city Of New Orleans. and there
is nobody to take OF il bond to protect It from
the hands of individuals 10 it not the duty Of Congress
10 make some other arrangement Shall we 6e diverted
from this object by revlvng party issues that hope are
dead and buried Certainly not 1t is not my practice
my course to revive party issues OF this kind Here
Y subject calling Tor immediate attention. merely
they might make provision for this temporary ncon-
venience.
II the so-caed sub-treasury system shall be found to
operate WELL shall lend my aid to Il at all times i'm
prove IT. and test lis capacity for carrying on the imam
cial operations Of government The very moment de-
have been ntrnsed 70 IL shall abandon il and 60 against
Mr. HUNTER Mr. President, the Committee on
Finance will doubtless consider whatever the Senate may
choose submit to their consideration and not only that
but will receive from any senator any suggestion which ne
may think fit to make in relation TO matters in their
hands, But, sir, ii does seem 10 me that although the
senator from Georgia did not intend to raise this old
party ssue yet the proposition which he made could have
no other bearing. Why sir, how could we make de-
from the established policy Of the government II
is not to be said that this simply TO be considered as
remedy for the evil alluded TO BY the senator from LOU
isana for II would take much less time to remedy that
evil in direct manner than 70 change the whole system
OF finance and OF public treasury have no doubt
that remedy may be suggested, and afforded with much
less trouble than 10 undertake to alter the whole financial
system IL exists. have no doubt that the Com
mtee on Finance and the Senate they choose TO do
may % erfes! the existing system as e make answer
remedy hope that the Congress OF the United States
will be found willing remedy these defects when they
10 me- 4 small natter and one which can easily be rem
eded by legislating upon the particular cases -
Mr. WEBSTER Mr.. President, the Senate will OBJ
merely the increase OF the operations Of the mint
very unwilling draw into discussion at this time, under
such motion that. any question respecting the gem
Of the sub-teasu plan, any other plan, anything Of
that sort Here Is present existing evil, OF considerable
magnitude II is remedabe. The law will provide
remedy for IL to certain extent, very shortly think
One part OF the proposition certainly, il i receives the
sanction OF the government. be elected Immediately
and that is increase the quanyof coin in the mint to
be exchanged for bullion Another suggestion Of the
honorable senator from North Carolina, Of establishing
an Office Of assay 10 Califonia-iha is thing which
can be done without any considerable outlay and think
ought to be done really hope for the present that
NAV confne our attention TO the subject OF the coin
That s the important subject before ms, and think IL
requires timely action upon the part Of the government
tMr DOWNS here addressed the Senate His remarks.
having been withheld for revision, not received in
time for to-days paper. They will appear Tomorrow
Mr.. DAWSON. One word, Mr.. President; dislike
TO into any conoversy bat to say that the fault is
somewhere seems 20 me to throw something OF an
ministraon The amount OF deposites has increased,
and 10 proposed by the representatives Of Louisiana
10 diminish the bonds. thought one OF the prin-
cipes Of the government was. that the amount in
deposite increased you should increase the security
and the bonds Here Is complaint that the bond
was not diminished as the funds increased. Now,
submit TO the propriey and justice OF men OF all
parfes II the administration managing this govern
nent had diminished that bond, and there had been
the countryi Do you the injustice in making OBJ
sevaons calculated 10 produce the impression upon the
public mind that the admnisstion has acted wrong
They acted correctly, sir. They ought to have in
creased the bond at their discretion. the amount
of ,deposites increased What is bond Of e50,o00
to the possession OF two and half millions OF
dollars What is bond OF 100000 even to de-
posite Of S3,o0o,0ooi And yet the fault 10 some
where, because the bond not diminished 20 low
a. 70 induce some one TO accept pe ONCE the eec Of
which would plainly be to leopard the whole. Is said
fault nd hat