The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-20
THIRTY-FIFTH CONGRESS-.
FIRST SESSION.
Senate.

Senate.
WAausaroS, Dec. 10, 1857.
PROPOSED Tux Tariff
Mr. CRITrEsDEs, (opp) of Ky, submitted resolutions
that consideration of the financial condition of the coun
try the embarrassmens OF the Treasury the rates
duty established by the tariff Of March last ought to
materially increased and also ufavor of substitution Of
system Of home valuation imported goods The reso
lutions lay
pEBArE ON THE FINANCIAL couETRYpAssAGE
or THE TREASURY BILL.
The Senate resumed the consideration of the Treasury
note bill
Mr. WILSON, (opp.) Of Mass said the closing hours Of
che Thirty fourth Congress devoted TO efforts to
pete the treasury, and they now, the
mentof the Thirty firth, trying to I'LL the treasury which
was now empty. He called attention 70 facts con-
nected with the expenditures Of the government He
thought Congress should revise the tariff restore
the duties iron, cotton and wooen goods 70 where
they by the tariff Of 48 That would the
revenues Of the country something like two millions Of
dollars, and thus afford relief He would for
she issue OF ten millions in treasury notes. under the cir
cumstAnces, but not for twenty.
Mr.. HUNTER, (adm) OF Va, insisted that ten millions
would not be enough and would be necessary TO pass
another bill next year providing for more had better
be done now, all al once.
Mr. wnsos replied he should not be surprised If
twenty millions was asked for before the close of the
session. owing to estimates of receipts and the large
amounts recommended for expenditure in the War and
Mr.. BEsyAMIs (adm of La. said Congress authorized
the debts 70 be incurred and therefore ought provide
means for their payment instead OF charging the admins
fraton with extravaganza.
Mr. SEWARD, (opp.) of N. Y attributed the revulson
to importation and the diversion Of capital from
ordinary channels He did not believe the banks to
blame.
MIR. DAVIS, (ad) of Miss, advocated the bill as a sim
pie proposition to borrow money TO meet the Of the
government and thought the executive responsible
for the proper application OF the money. Instead Of
revenue tariff he preferred free raso far as prac
ticable.
Mr. DIxoS (opp OF Conn., spoke In favor of the proec
ton Of American usry the best Of restoring
confidence revvng trade replenishng the treasury
Mr.. CoIIAMER opp Of VI, opposed the bill, and took
occasion TO remark that with all the Boosting Of the sub
treasury system and hard money currency, when the
pressure came the whole bottom knocked out, and
application was then made for the issue Of rredeemable
paper. Why not honestly borrow hard money and pay
nentS
Mr.. Husxa defended the sub treasury system 1t was
established in order that the should be
embarrassed by bank suspensions in the management Of
its finances Treasury notes were the cheapest mode
which money can be borrowed, and would not,
charged be forced the people to the exclusion of gold
and silver, in the payment of debts.
AT four O'Clock an unsuccessful motion made TO
sdourn-a majority seeming determined TO pass the bill
before an adjournment
Mr.. TRUKBUIL opp of Ill.,, proceeded TO show the
travagance OF this well the preceding
saying ii now wants to spend seventy millions OF dollars
within the next six months No necessity for raising twen
ty millions has been shown
Mr.. PuGH, (adm OF Ohio, opposed the BILL regarding
Il as strange proposition TO come from the democratic
side OF the house 10 issue twenty millions of shLplasers
lie vast however, willing to vote for II II could be
duced 70 provide only for raising money as
Immediately wanted He wished to prevent the Cir
cuation Of these notes bank notes.
The bill was amended, limiting the operations Of the act
until the LIST Of January, 1859 and prohibiting notes Of
Tess dissemination than hundred dollars and thea
passed by 81 against ls as follows
YKAs-Messrs. Allen Baysrd, Benjamin, Biggs. Bigler
Brown Clay, Critenden, Douglas Evans Fitch Fitzpatrick
Foot Green Hale Hunter Iverson, johnson of Ark jones'
Kennedy Mallory, Mason Pearce, Polk, Reid Sebastian
Seward, Stuart Thomson OF N. j.. Wilson and Wright.
NAvs-Messrs Bell. Broderck, Chandler, Clark, Coamer
Davis, Dixon. Doolite Durkee Fessenden Hamn Harlan
Johnson Of Tenn, King, Pugh, simmons Trumbui and
eHAce.
Al half past 9 the Senate adjourned