The southern press. [volume] (Washington [D.C.]) 1850-1852, 1850-09-25

and confer it upon the Secretary Of the Trea sury
Practically ii will have no effect; for the con-
tract made by Dir. Webster meets the approba-
ton of the Administration, and it IL certain Mr.
Corwin will not annul it, Iu principle think it
wrong. BY the Constitution it is the duty Of the
President to see that the laws are executed
NV idea, is, that we ought to appropriate the
money to fulfill the treaty, and leave it to the
President to see that the payment is made; and
the country will hold him responsible for the
manner in which the duty is performed. Ii we
agree to the amendment, it will be vote of
confidence in the Secretary Of the Treasury, in
advance and we will be estopped ofcomplanng
| OF the Administration, no matter how the duty
may be performed. am unwilling that Com
gress shall take this responsibility where it can
/ have no control.
Mr.. BAYIY appealed to the gentleman FROM
Tennessee to yield the floor to enable him to
reply to the interogatory of the gentleman from
Kentucky, Mfr. BoyDl
Mr.. JONES yielded
| Mr. BAYI.Y. an informed that there has
been no proposition made to this Government
by any officially recognized agent of Mexico
There has been proposition made to this Gov
ernment through gentleman who represents
himself az acting for the Government of Mexico,
but am told that he has no credentials. | do
not want to refer to the individual; he is gem
tleman for whom entertain a good deal Of per-
sonal respect But, lam authorized to state that
there has been no official communication what
ever The Mexican,minister has made none
There has been one made by citizen Of this
country, protesting to act on behalf Of the Mex
lean Government.
Mr. DISNEY. The denials of the Chairman
| of the Committee of Ways and Means are spe-
cia | wish the gentletr an to say whether he
has any information, official or unofficial, that
the Mexican minister is authorized to receive and
receipt for this money
Mr. BAYLY. This delicacy that wished to
| observe, it may not be requisite for me to ad-
here to. MIR. Webster stated to me that General
Duff Gceen had made proposition in reference
to this matter, at, believe, four and a half Der
cent, which he, (Mr. W. did not even consider.
| That is the fact of the case, and it is proper
should state it,
Mr. DISNEY and Mr. vINTON, each said a
word to Mr. BAYLY, of which, in the confusion
Of the Hall, nothing whatever was audible to
the Reporter
| Mr.. BAYLY remained upon the floor.
Mr.. ASHUM | wish the gentleman, Mr..
BAYLYl to speak so as to be heard all over the
House
Mr.. BAYLY. The proposition was by Gen
eral Green, on behalf Of himself and some per-
sons in Mexico.
|
| Mr.. BAYLY. In answer to the gentleman
from Tennessee, who asks why this bill cannot
be passed ut the next session of Congress, beg
to say, what | have already said, that unless
these bankers have some time they can give no
rpremium at ALL On the contrary, if you throw
$3,500,000 on the exchange Of the Mexican
market at once, without any time to work it off,
| pay premium or export the specie
The gentleman from Tennessee says you run
the risk of the solvency of these banking houses.
Why, we do not pay 4 dollar under this contract
/ until we have the receipt of the Mexican Gov
ernment There is a scene occurring in this
1 House which it is my duty to expose. A parcel
of spectators are about the Hall misrepresenting
this thing from beginning to end
Mr.. EWING. trust my friend will follow
the course which he recommended the other day,
and not lose his temper. A taught
| Mr.. BAYLY. If my friend from Tennessee
will excuse me- am not losing my temper. |
never was in better temper in my life, but am
speaking loud so as to be heard, which is very
difficult in the confusion Of this Hail.
Mr.. EWING. If the gentleman means that
| am influenced by speculators--
Mr.. BAYLY, Gn his seat) Certainly do
not 81 f6t N
Mr.. EWING, Continuing his sentence he is
| greatly mistaken, for know of none of them
| Some gentleman was understood to suggest,
in an under tone, that if the money were paid
now, our Government could get the receipt Of
the Mexican Government at a discount
l
| Mr. BAYLY said, he dill not intend to detain
| the committee with many remarks; indeed, he
was not sure he shoul have added any any
thing were it not to supply some omissions
which he had made in his opening remarks
The gentleman from Ohio Continued Mr.. b.
has said, that the gentleman from Tennessee
has proved by his remarks the truth Of his
statement, that this matter Of foreign exchange
was but little understood by members. as
sure him that the gentleman from Tennessee is
right, and that he is entirely wrong and he
says there is testimony, derived from official au-
thorty, showing that exchange on London at
Mexico Is eighteen per cent. Now, as stated
in my opening remarks every body is aware
that the exchange between two places, indie
pendenty of any legal impeachment, cannot be
much more than the cost of transporting specie
Mr. DISNEY (the floor being yelded) snid,
the proposition is undoubtedly true, that the
cost of the transmission of the money, togetn-
er with the insurance, transit duty, drayage,
&c, make up the whole cost. He then read ain
hitting the money to the city of Mexico,
amounting to III per cent; yet the gentleman
from Virginia, Che said) talks about two per
cent. 2e
Mr.. BAYI.Y. The gentleman from Ohio ought
to understand, that in stating the exchanges
between two countries, the charge of trans
portation from interior towns is never included,
but only from the port of shipmcnt-from Vera
Cruz in this case
Mr.. DISNEY. Will the gentleman allow me
to ask him single question!
Mr.. BAYLY. Certainly.
Mr.. DISNEY. If he had 800 in the city of
Mexico, and wished to transport it to London,
ask, what it would cost to get it theres
Mr.. BAYLY. 1t would cost the freight, in
surance, the duty, and small per centuge for
transacting the business
The gentleman from Ohio, in reply TO the gen.
tleman from Tennessee has said that the nominal
exchange between this country and EnrIapd