Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-02-22

favor of reducing the rev issue of treasury notes
low as twenty dollars, and also defending the sc
ceptance by Government Of guarantee of its bonds
offered by several States. Mr.. Seward saw nothing
very surprising nor very alarming IN the present
low condition of the credit of the United States
Government. The credit of the best States in
the Union had sometimes sunk so low as to
induce them TO ask the General Government
to indorse their bonds. In 1917 New York askAI
such Endorsement. for the purpose of comf3etinc
the Erie Canal When the Hartford Conv sntion was
sitting the credit of the United States was at low
cbb and its stocks actually guaranteed by the State
of New York, and even by municipalities. These
vicssitudes befel every government In ls49 when
our Government was prosperous and rich, it loaned
twenty-six millions to several States. When they
took this lean they came under conditions to repay
it, aud they now owe it. The Secretary Of the
Treasury simply asks these States now they are
strong and rich and the Federal Government is
passing through a crisis Of disafecton at home and
suspicion abroad to indOrse our bonds issued for
twenty years, and leave with them the twenty-six
millions they now owe US.
The House had an exciting time. over the Militia
bill again. The vote yesterday, although decided
test of the strength of the measure, its
mary reection-not on its final passage. Mr.. STAN
ton brought it up to day for passage, and made a
speech in its favor and called the previous question
This threw the Southern side into fits. They were
all on the floor at once-Bocock, Pryor Burnett
Simms, HindmaH, Garnett, &c. Bocock declared he
would have a hearing upon "thls declaration of
war; good many gentlemen got a hearing be-
sides Mr.. Bocock, although the previous ques-
ten was pending-and big breeze was the result
Mr.. Stanton defended the bill on the ground that
the seeded States were in revolution against law
and must either recognize this right of secession
which they claim, and abandon all authority Of
United States laws in their ports or enforce
those laws and collect the revenue. We're gentlemen
prepared to say the authority Of the United States
over these ports should be abandoned? If so, the
consequence was that they would become free ports
to the injury or perhaps destruction of Northern
ports, as New York, &c. We must acknowledge
under United States laws, or else close them and
treat them as hostile ports In reply to numerous
questions pressed by excited members. Mr.. Stanton
said the bill of the Military Committee was called
for and desired for no other purpose than defence
and protection and the collection of revenues in the
most peaceful manner possible. He did not suppose
that the capture of the forts of sufficient impor
lance to take them by force, at least until all peace
full means were exhausted. The object of the bill
was not to march hostile force single foot into
Southern territory. Burnett of Kentucky, declared
there were forty members that side of the House
who would resist the passage of the bill by every
means-implying that they would resort to Parlia-
mentary expedents and block the wheels of legis-
lation until March 4th, and defeat the measure.
Stanton said that if the facous opposition was all
they had to offer, might well meet it now and
| renewed the demand for the previous question,
The question came on laying the bill the table.
nays 1o5-the vote substantially the same as yester-
day.
Corwin rose to say he would postpone the report
of the Committee of Thirty-three next in order, to
enable the House to discuss the bill He thought
both the motives which led to its introduction and
its real object and the Law relating it. were great
ly misconstrued on the other side of the House.
Vallandigham repeatedly demanded of Corvin
when he proposed to call the vote on his report He
wanted to speak on it. Corwin could not possibly
fix the day. Vallandigham PERSISTED in knowing.
Csrwin, much bothered and pressed with his most
oYerpOwering gesture, replied, ~ pledge myself to
my unhappy colleague, the remainder of the SEN
tence was lost in the general grin which became
audible. Valandigham wilted. After protraeted
fuss, general consent obtained to postpone mill
tia bill until tomorrow, when it will come up for
debate. Southern members are full Of fight on il.
Sickles and Cochrane unexpectedly join them.
It is generally thought the Guthrie adjustment
will pass he Peace Conference, by one majority.
But should Michigan or Kansas delegates be com
mssoned before the vote is TAKEN it will be defeat
ed entirely.
The Union news from Missouri eIcites hopeful
feeling.
The construction Of the Inauguration ballroom
is fully under way, with force of 100 carpen-
tiers. 1t is to be Union affair." in which all par
ties, except svoWed disunioniss are likely to take
part.