The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1862-06-27
Remarks of Mr. Morrill, of VermOnt,i Re.
ply to MIR voorhees, OF Indiana, in the
House of Representatives, May 81 1862.

Remarks of Mr. Morrill, of VermOnt,i in Re.
ply to MIR Voorhees, OF Indiana, in the
House of Representatives, May 81 1862.
Mr. MORRILL,, of Vermont. l have been
somewhat surprised, Mr. Speaker, by the re-
markable speech of the gentleman from Indi-
ana, MIR VOORHEES,, and more surprised by
the remarkable statements which he attempt
ed to present as facts. endeavored to in
terrupt the gentleman for the purpose of
giving the precise facts, supposing that the
gentleman, as he was speaking by the book,
would be anxious to be accurate in his state
ment which he was about to send to the pub
lie, but the gentleman declined any such cor
rections.
Now, what was the representation of the
gentleman? Why, that at the end of the
next year our debt would amour: to S2,OOO,-
100000, and that the annual interest upon
our present Indebtedness would amount to
S1OO,OOO,OOO. Mr. Speaker, to- say nothing
about the taste of attacking the administra-
tion which is doing all it can to put down
rebellion which was inauguraled by the gen.
tleman's own party, and by no other party,
he ought to have reflected that our army in
the field is even now commanded by demo-
cratic generals-two of the largest commands
being held by democrats, (McClellan and
Halleck,) and besides these most of the mi
nor commands, (McDowelI, Butler, and Burn
side } and that if there is any extravagant
expenditure, they are as much responsible as
any party in this country. While such are
the facts, and while the office of secretary of
war is also filled by democrat, such speech
comes with an i'll grace from the gentleman.
| am willing that parties guilty of fraud shall
be visited by due punishment, and will go as
far as the gentleman himself to effect that
object. Let them be hung on gibbets, and
be execrated for all time. think the gen.
tleman will find as many of these martyrs in
the democratic ranks as anywhere else. But,
Mr. Speaker, all that is out of order-as much
so as the gentleman's speech. merely in
tended to give the facts in reference to the
public expenditures.
The whole amount of the appropriations
which have passed this House for 1862 are
$5S6,O00,0O0. The whole amount of appro-
priations for 1868 are sj44,OS2,OOO. This is
large enough, but not SO large as under
stood the statement Of the gentleman by a
bout ore half. Consequently, if this war
should continue even till the expiration OF
next year, the expenditure will not then have
amounted to more than Sl,l20,000,O0O. The
amount of the present Indebtedness, inc!ud-
ing the old debt, is but little over $780,
100000. Therefore the interest on the pub
lie debt cannot be, even al seven per cent
more than S42,OOO,O00; anu if the wal
should continue till the end OF 1868, it would
not amount to over S15,00O,000.
But, Mr. Speaker, we have some reason to
hope that this war will be closed long before
the expiration of 1863; and if so, then of
course our expenditure will be largely di
minshed.
Now, in regard to the ability of the people
to support this enormous load of taxation
The people of England have supported ;
debt which takes ore fourth part of their an
nual earnings. Taking our annual produc
tions as basis of calculation, We could sup
port debt Of S4,OOO,OOO,OOO, and still no
be taxed SO heavily as England is at th
present moment.
| But to show the real value of our securi
, ties-to show the soldity of our government,
and the general confidence in the present ad
ministration, We have to 90 to the none
, markets of the world. At this time, Wa
t street, State street, and Walnut street refut
the gcntlemans charge of extravaganza an
general peculation. There our securitie
bear premium at this moment, and do nc
4 suppose they will depreciate in consequence
of merely political speech.