The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1857-12-22

~ t tbe public interests and without affecting the re-
sponsihities Of the government itself lie then read
from the report Of the Secretary of the Treasury 70 show
that the department driven TO this measure of relief
consequence Of the large quantity of goods remaining
m the warehouses unredeemed and from statement of
the receipts Of the treasury from mportations, TO show
that the amount received from duties had been essential
Nv diminished by the financial revulsion The estimates
If the Treasury Department exhibited at the present time
that there in the district of New York alone not less
than $50 600 900 remaining unredeemed in the ware
houses II they should take all the districts in the Uni
led States these unredeemed goods would perhaps reach
between $40 600 900 and si5 100000, which would pay
into the treasury duty of about $40 600 600 Was not
the Secretary right then, in saying that this was but
temporary of elief Gentlemen had said that the
Secretary had managed hsdepartnent of the government
badly. The Secretary had done nothing but what he
was authorized to do by law. The gentleman who ar
gncd the Secretary had voted for bill at the last SEES
sion proposing keep 81 900 900 in the treasury for the
expenses Of the government and depostc the surplus
among the States That bill failed in the Senate. Sup
pose had been successful In how much condition
would the country have been at the present time He
oontened that the Secretary after redecming SIG 000,
900 of United States stocks, had left 900 In the
treasury Sc 900 900 that necessary to carry the
government and So 900 for the purposes OF coinage
For the last week the receipts had increased upwards OF
500 000 which owing, doubt to the redemption
articles imported for consumption during the approach
ing hoydays. He maintained that the issue OF treasury
notes not creating bank He was in favor OF hard
money and gentlemen would convince him that the Is
government bank Of any description, then he would
pledge himself to go against it.
Mr.. BANKS, of Massachusetts, stated that there was
necessity for the going into the market for
the purpose of buying up its stock ut Is 20 cent
premium 1t could obtain loan for one two, three
years. The government ought to have placed the
Secretary In the position which Obliged him to purchase
that stock Proper legislation would have relieved the
treasury from its difficulties and the Secretary from the
obligation. He did not stand there to defend paper
money the contrary, he was DESTROYS of udicious
reform in this matter alE
Mr.. LETCHER, remarking that the gentleman would
be in the gubeatoral chair of his State inquired
whether he would be found recommending reform so
the banking institutions of his State were con-
cened
Mr. BANKS replied that, wherever he was, he should
strive to introduce radical reform in this matter
Mr.. LETCHER then went on to show that this bill
was Objectionable to the opposition because it did not
create bank He sorry to the Secretary arraign
ed because he had redeemed livestock of the United States
in accordance with law At the time he had received the
approval of the entire country for his COURSE which had
relieved the public distress What right three months
ago longer right in the opinion Of the opposers
Of the bill In his opinion, If it was right then it was
right now.
Mr. LOVEJOY of Illinois, objected to the bill because
passed with such hot haste looked little
pcous that its friend should be urgent to bring the
House to a vote upon it,.
Mr. D. CLANCY JONES, of Pennsylvania, stated that
the Secretary Of the Treasury had not paid out single dol
lar except in accordance with the laws passed by the last
Congress- Fs
Mr. IOvEJoY said that he had no doubt that it was
legal
MIR. j. CLANCY JONES' of Pennsylvania inquired
whether the gentleman had said that all had been merely
in obedience to law.
Mr. LovEOY said that he did not believe it had been
against the law This deceptive BILL proposing to
do certain thing in conceament protesting to be
thing when twas wholly another 1t was in reality con-
verting the government into presidential machine. Ii
the government to become bankrupt then let the
Hnucoo tnn1 and anHaa hat md
and wanted loan to the extent of its necessities he
would vote the loan but ii he kept his he would
never vote for the bill under consideration.
Mr. j. CLANCY JONES, of Pennsylvania, inquired
whether the gentleman did not know that it because
themports the country instead being withdrawn
entered into the warehouses to the extent OF 2s 600
1t because the consumption had ceased that the Sec
rotary had called upon Congress to give him power to
issue treasury notes during its continuance.
Mr. LOVEJOY had taken the estimates of the receipts
already into the treasury and they amounted
TO $3S 600 That would be for the year SIS OOO
and would be sufficient to carry the government He
also objected to the amount proposed to be raised and
wouda the proper time propose an amendment to strike
out Of the first section Of the bill the word twenty and
insert six He opposed to the measure because it
provided no mode of paying the loan and because he did
not know what was to become of the money
Mr.. j. CLANCY JONES, of Pennsylvania, replied that
it not proposed to pay dollar out of the treasury
except in accordance with existing law The executive
and the legislative departments Of the government called
upon Congress to pay its debts, not theirs.
Mr. LOVEJOY, in conclusion, argued that the issue OF
treasury notes was unconstitutional.
Mr. CAMPBELL, of Ohio, after abiding to the passage
of the appropriation bills at the last session. said that he
intended to sustain the with certain modfica
tons and guards whether it In the form of loan or
treasury notes The gentleman from Illinois had sug
gested amendment providing that the money should
be raised by direct taxation of the people, That PROPOSE
ton still in the memory of his friend from South
Carolina who during the last Congress had intimatcd
that he would propose bill for the sale of the custom
houses and the dismissal of the thousands and tens of
thousands of employees and thus diminish the expen
dures Of the government and resort to free trade and
direct taxation gtfs q .aH
Mr. QUITMAN, of Mississippi, understood to say
that he should always be in favor of free trade and direct
taxation for the purpose of promoting economy in the ex
penditures of the government.
Mr. B0YCE, of South Carolina, said that he had that
subject in consideration and intended to press it Mt the
proper time, and insisted that the day would when
would have the blessing of free trade in this country,
in order to accomplish which must have no duties
whatever upon Imports but direct taxation exclusively
Mr. CAMPBELL, of Ohio, Qesuming,) was in favor of
raising the necessary to defay the economical ex
penses of the by discriminating duties, and
for the purpose Of issuing these treasury notes he would
submit an amendment which would raise the necessary
and afford protection to the great industrial pur
suits Of the country would be remembered that du
ring the last Congress the House passed bill extending
the free list Alone and leaving all the other articles of
manufacture precisely where they were in 1916. The
Senate with view of still further reducing the revenue,
amended that bill 10 place articles of the twentieth
schedule at rate of twenty per cent His amendment
would carry back of these articles to the condition
they occupied when that bill was passed at the last
sion. fA II -
Mr.. GROW, of Pennsylvania obtained the floor but
the hour being late, the committee rose and the House