The daily union. [volume] (Washington [D.C.]) 1845-1857, 1852-03-21


in part 10 the famine. the revolutions" &c. in
Europe. The famine has ceased plenty prevails. reyo
unons have been lew, and unfortunately quickly de-
increases The heretofore assigned causes for pro-
spectiye diminuuon-which is again predicted-of ex
ports and revenue from imports Will no longer pass cur
rent Others sought IN the large influx OF gold
from California and The f0ig price oil cotton
MIR. STANTON, OF Ohio, llnenupung) II the gem
ileman will permit me 10 correct him, 10 not under
stand that the Secretary OF the Treasury audes The
dminuion OF the exports OF breadsuts produced By
the TARIFF Of 1916; but do understand that be audes TO
that dmnuon for the purpose OF showing that the dim
mutton and the purchase OF foreign Imports do not. OF
necessity create any demand for the productions OF this
country and therefore thai the foreign demand cannot be
Mr. FITCH The gentleman has his reading of the
Secrearys report have mine. leave the public 10
Judge which is The correct one
The message informs that '9he production OF gold
in California Tor the past year promise large
supply OF that metal from that quarter for time 10
come"--lhen, by pseudo reasoning process perhaps
Ineligible to its author and satisfactory his party
(or what too absurd 10 satisfy them il ii but offer
Them little political capital . proceeds TO predict
the most disastrous consequences TO the business and
capital Of the American people, from the overadng TO
which this supply of gold will lead. II large addition
TO the paper ejaculation OF the country should be made
by bank expansions, without corresponding increase OF
specie capital and overtadng follow such expansion, as
il probably would, we readily understand how "ds
asous consequences TO the business and capital might
and probably would ensue. The meana Of payment
would be found wanting, the gold t0fedeem paper
promises could not be forthcoming when demanded But
when businessbe il overtrading Chat is, purchasing
more within given period than the demand requiTes) or
only trading 10 that extent which all would call
heahy-resus from specie addition capital and cir
culaton il is not easy to perceive how the disastrous
consequences TO follow. The means OF payment
are then always al hand-and means which will not,
when wanted, vanish "lke the baseess fabric OF
vision" require TO be converted, at large loss TO
the holder, into something more substantial 10 make il
| available.
We are referred in this message to the one Of last ses
sion, for "ihe which induced 1.-THE PRESIDENT
to recommend modification of the present tariff" Upon
consulting that document-last years message-he is
found there to have sad "A duty laid upon article
which may be produced here stimulates the skill and in
dusry Of our own country TO produce the same article
which brought into market in competition with the for
egn article, and The importer IS thus compelled 10 reduce
his price TO that at which the domestic article be
then reason urged for increase Of larif-a reason
which, il put in direct terms, and without the crcumlo-
cution with which it apparently sought TO be obscured,
would be contradiction in terms. Now, however,
without the tariff increase then asked, prices appear to be
too much reduced articles to be too cheap and depressed
prices are urged in the present message as inducing him
"agan TO recommend modification Of the existing tariff"
The Inconsistency manifest in the reasoning OF this
year is equally glarng the bad logic OF that of last
year.
The want OF verifcation OF their predictions OF def
cheney attributable to absence OF disposition acts
on the part Of the administration TO force such result
They have sought by reckless and profigate expendi
tres unequailed in the previous history OF country,
uncaed tor by anything in its present condition to emp
the treasury Tor The double purpose Of fulfilling their
own prophecies and then basDg upon the deficiency they
had created additional appeals favor of protective
tariff. So perfectly did Secretary Meredith and his
managers under General Taylor fancy they had every
thing prepared, Galphin claims included, insure def
cit by large expenditures that they induced the probably
honest, but certainly creduous. old General 10 recon-
mend that authority be given to borrow whatever sum
may be necessary to that deficit" And cred
IDLY informed that Secretary Meredith took the initial to-
wards procuring plates for issue of bonds. They
were preparing to raise the cry Of national bankruptcy
and ruin against the present tariff but perversely be-
lied their prophecies and spoiled their schemes by YIELD
bly, than for the success OF their plans they desired In
deed, il may well be questioned whether If the present
tariff be Objectionable and wha, dependent upon human
which be brought against il is not that yields too
much revenue. and thus ministers to the extravaganza OF
the party in power. would almost be willing to vote
for any change OF duties which would best insure
ducton OF revenue, could thereby force reduction
OF national expenditures to an economical Standard and
the change would not be prejudca the producing and
consuming interests OF the country IL the adminslra
ton has honestly believed the revenue would fall Oh as
1t has constantly predicted, why has reduced it's
penses and recommended reduction OF appropriations
in corresponding ratio By refusing negecting so
to DO has manifested either unbelief in ts predc
lions. Willingness to plunge the country into debt and
embarrassment 10 enforce its desired tariff change.
Erlrayagance 10 expenditure charged against Mr.
Van Burens administration and the charge made 10 ope-
tunate would it be for the country il this administration
would limit Its expenditures the amount alleged
tIavagan in that During the year ending January
1898. (Mr Van Buens Administrations the expenditures
were S3l 400 81 This amount, being the aggregate,
included OF course the for the known 10
be heavy, OF the Florida war. and OF the removal of the
Creeks and Cherokees. Compare this sum-upon which
rung every conceivable change OF the charge OF ex
travagaocewith the expenditures under this adminstra
ton for the year ending June 30, 1851, amounting TO
S4S 003,s7S 6s. The comparison shows difference in
favor oil the socaed reckless Van Buren, administration
OF Sl6ls0,46S ~! And this immense excess over and
above an amount then Cs3S) charged needesly ex
ravagant has been expended in time OF profound peace
there being no Indian other nor large removals oil
indiana requiring extraordinary expenditures.
The expenses OF MIR. Folks administration for the
year ending June 30 is46, were $2s 03ill4 20a sum
less by Sl9,974,764 as than the expenses OF Mr. Fill
1t is true, paid during The last samed year SO 9l5 2s4
more OF the public debit than during The former but
the former year included nearly months of the Mex
lean the expenses consequent upon which, IL is fair
10 presume. would go far towards equang The difference
in amount paid on "pubc debt" Thus il will be seen
that the expenses OF this administration for The year
toned were nearly double those OF Dir Folks during the
year ending June 80, is46. But the extravagance OF
this administration is placed in still boder relief by
pairing its expenses for The past fiscal year with those OF
MIR Folks for the year ending June 30 1sf7, during
war actively and vigorously prosecuted abroad, and while
we were maintaining large armies in foreign country.
The latter were S59,45l,l77 Goa difference OF only
S11 ,44329S ~ between the expenses Of demo-
cratic and the peace extravaganza oil wing adminstra
ton. The annual expenditures OF MIR Folks admins
traton during year OF war than double wha,
they during oil peace. This ratio OF increase
would have swellod the expenses OF year during the
war, if the wings had been power, 10 nearly 500 000
000 instead OF less than 500 900 600, as they were
Wing statesmen (hlr Webster especally) estimated the