Imagens das páginas

Mar 19, 1836.]

Transfers of Public Money.


times their cost to the farmer, when he wants to pur- sound and unavailable bank credits in exchange for its chase, and can get the means. But this is not all. The lands. The first quarter of the year has gone beyond citizen of Ohio or Indiana, who wishes to purchase a the prediction; nearly six millions have been received few quarter sections, either for his own use, or to settle from public lands, and it is all bank paper or bank credhis sons when they shall grow to manhood, cannot enjoy it. So it goes. any share of this credit system; for the money paid for The Secretary says he is anxious to get clear of the the land goes to the eastern cities, and is in the power responsibility of managing these funds. And it is time of none but eastern borrowers. No man in moderate he should do so, for he must now feel his utter incapacity circumstances anywhere can share in it. It is your men to manage them; and we talk now of regulating the worth a million that take advantage of it. The western deposites by law, and investing the surplus money in farmer and mechanic are driven out of the market; for some way so that it will be safe and useful to the counthe notes of the western banks will not be received for try. But no such thing will be done. Nevertheless, land, (so says the Secretary and his agents;) and those I doubt not that a large majority of the Senate, and of the western banks dare not, and cannot, lend out their spe House also, individually think that it ought to be, and cie, or lend to those who will draw specie at once from wish that it may be, effected. But the party-that their vaults. Thus this Treasury arrangement has had invisible power which rules over our deliberations, as abthe effect of driving small purchasers of public land out solute in its decrees as destiny itself, does not will it, of the field. They can get no funds to buy with. It and it cannot be done. But your public money must drives all western men out of the field; for no funds that remain where it is, and continue to be applied as it they can command will buy of the Government the land is, until certain political objects shall have been effected, adjacent to their farms. But the agent of the New and certain favored individuals shall have amassed forYork, or Boston, or some other land company, can come tunes as large as they may desire. When those political in and purchase up whole counties, and give in pay- objects are accomplished, and those fortunes madement-what? Not gold or silver. No, sir, notes-large when ambition is gratified, and avarice satiated until it handsome notes, on the Manhattan Bank, the Girard cries enough-perhaps when all this is done, but no soonBank, or some other bank that has about one dollar in er, the public funds will be once more placed under the cash in its vaults to every ten dollars that it owes. This protection of the law. But those are idle dreamers who is the game, sir, that is playing; whether it be wicked, believe that we shall be allowed to effect any thing this or merely weak, in those who manage it, I am not called year-the party will not permit it, and it cannot be upon to decide. But this is our improved currency-- done. thus it is that you destroy monopolies. These are your Mr. WEBSTER said that he hoped the gentleman arrangements for the benefit of the poor man. Never from Ohio was mistaken; that the matter of regulating was a public Treasury or the finances of a country the deposite banks would not be postponed or neglectmore shamefully mismanaged.

ed. He hoped all information, necessary for the delibThe Secretary further says, in page 13 of his report: eration of Congress, would be obtained, without unne.

"Many predict, contrary to my own anticipations, cessary delay; and that this great question, respecting that the ease in the market, and abundance of money the state of the public moneys in the deposite banks, throughout the country generally, will continue so might be considered and acted on. It seems to me great and unusual, that many more millions of active (said Mr W.) that the delay, in bringing on this discussion capital, ranging from twenty to thirty millions, will be and in adopting the appropriate legal measures, is most parted with in a similar way in the course of the present exceedingly to be regretted. Gentlemen do not appear year."

to me to be at all sensible of the great public injury wbich Was there ever a more flagrant insult upon the know. arises from the unsettled and uncertain state of this ledge and understanding of an intelligent people? Ma. question. It is impossible that commercial affairs ny predict that the ease in the market, and the abun. can return to their accustomed course, until Condance of money, will continue so great and unusual! gress shall have acted upon the subject, or shall adThat is to say, the abundance of money is now great and journ, and thereby have shown that it will not act at unusual; the market is now easy in all parts of the coun- all. I think every day of the session is, in this respect try; and many predict it will continue so. This is the and this aspect, "a positive injury to the commercial meaning of the paragraph, if it were penned in sober community; and yet we are past the middle of the sixth truth. If it be a sneer at the mischiefs which have been | month of the session, and no real progress has been brought upon the country, it is subject to another and a made with this great and important subject. I think it different construction. But, sir, who feels that the mar- indispensable that the public mind should be quieted; ket is easy and money abundant in all parts of the coun- that men of business should know what they have to extry? None-none except the deposite banks and those | pect; and that the deposite banks themselves may be who have credit with them. To them it is easy; to these able so to conduct their business as may be most useful land companies it is easy; for they pay nothing but pa- to the public. Even with the best dispositions, and the per, which can be manufactured cheap, for the finest wisest administration, these banks cannot act in the manlands that the sun ever shone on. But to the farmer, ner most useful to the public, while the present condithe mechanic, the mercbant, the money market is not tion of doubt and embarrassment remains. easy, but the reverse.

If the land bill is not to pass, and if no distribution is I am one of those who, early in the present session, to be made of the surplus revenue, then at least there predicted something about the sales of the public lands ought to be just regulations adopted for the government for the present and future years; and what I did predict of the deposite banks; such regulations as may give securiwas, that, if the present deposite system continued, and ty to the public, and shall also enable the banks to meet, if money were permitted to accumulate in the Treasury, to a just extent, the commercial wants and exigencies of it would continue to pass into the hands of specula the people. If we are to depend on these banks for the tors, and that there would be not less than $20,000,000 custody of the public moneys, for the means of exchange, borrowed out and paid in for public lands by the favor- and for the accommodation of the public, then their ites of those banks and of the Treasury, while men en- duties ought to be described and defined; they ought to gaged in the ordinary and useful avocations of life would know what they may rely on, and to have no just ground find embarrassment and difficulty in their pursuits, and for arousing public complaint, by referring to the unwhile the Government would accumulate a mass of un- | settled and uncertain policy of Congress. Every mar SENATE.]

Transfers of Public Money.

[May 19, 1836.

must see that, with this great amount of money in the the course of his remarks, had seen fit to declare with

Treasury, the banks in which it is deposited, and which reference to these reports. Let that matter pass. He will be expected to use it for purposes of discount, have had risen not to discuss these reports, but to reply to very high and important duties to perform towards the some general suggestions of the Senator from Ohio. community, as well as towards the Government. They That gentleman had said that, by his first resolution, he have now some reason to say that the uncertainty as to sought for the same information which is called for by what may be done by Congress hampers their discre- the present resolution; that he expected to obtain the tion, controls their judgment, and deprives them of the information now required from the Secretary of the faculty of beneficial action. I repeat, sir, that all unne- Treasury, under his first resolution; and of consequence cessary delay ought to be avoided. We are on the the Senator from Ohio, he presumed, is prepared to verge of summer. We have nearly reached the day on charge upon the Secretary of the Treasury an omission of which the Senate thought Congress might adjourn. duty in this particular. Now, there is nothing clearer, The session cannot be much farther prolonged, without more evident, than that the first resolution offered by great inconvenience; and next to measures intended to that Senator was inaterially different in its terms from defend the frontier against invasion, there is nothing the resolution which is now before the Senate; and the more important or more urgent than this subject. I Secretary of the Treasury could not, under that resoluentreat gentlemen to act upon it at once, and to acttion, without having committed the greatest violence decisively.

upon language, have given to it a different consideraMr. HUBBARD remarked that he could not perceive tion--a different construction from wbat he did give. the propriety of the course which bad been pursued by It would have been passing strange if the Secretary of the Senator from Ohio. He could not tell why that the Treasury had, under the first resolution, communiSenator had thought it necessary, upon the offer of the cated the facts--the information required by the resolu present resolution before the Senate, to go into a full tion now before the Senate. If the Secretary had done consideration of the reports which had been communica- this, he would agree with the gentleman fro:n Obio, that ted by the Secretary of the Treasury in answer to a bis report would have been an argument without authoresolution which had been previously' presented to the rity--an answer to an inquiry never made. In such a Senate by the Senator himself. It seemed to him alto

case the Secretary would have been clearly obnoxious to gether more appropriate that the character of those the charge of making an officious, uncalled-for commureports should have been discussed when they were first nication. But he hazarded nothing in saying that the transmitted to the Senate. But the Senator had seen

Secretary of the Treasury, in communicating to the fit to take a different course-one more consonant, un

Senate his answer to the first resolution, had done all he doubtedly, to his own feelings, and more in accordance

was authorized to do, and had done nothing more than with his sense of propriety, although, from the begin. he was authorized to do. What was required by the ning, he could not well understand the object of the first resolution, and what were its provisions? And what is Senator from Obio in moving these resolutions. He

required, and what are the provisions of the present could not see how, or in what way, the answers could, resolution? He would subjoin a literal copy of each reby any possibility, aid the Senate in its legislative action. solution; and a bare reading of them would show that no He could not well perceive in what manner those resolu. two papers were more essentially variant in their terms tions were to accomplish any valuable object. But he and requirements. There can be no mistake, no misap. did not oppose the adoption of the first, nor did he in prehension about this matter: tend to throw any thing in the way of the adoption of "Resolved, That the Secretary of the Treasury be di. the present resolution. He did on a former occasion rected to inform the Senate what amount of moneys of suppose, and he could not now but believe, that the the United States, received for public lands in the Senator from Obio felt bimself called upon, in the faith States of Ohio, Indiana, Illinois, and Missouri, and ful discharge of his duty here, to elicit the information the Michigan Territory, has been, in pursuance of his sought for by his resolutions; he would not, however, instructions, transferred to banks in the eastern cities on ühis particular occasionfollow the example of the since the 30th June, 1835; and that he designate Senator. He could not feel himself at liberty, upon the

the banks from and to which such transfers have been question now before the Senate, to discuss the merits made; that he also inform the Senate whether any such or the demerits of the reports of the Secretary of the transfers are now ordered, and whether any of the deTreasury, made days ago, in answer to a resolution posite banks in the above-named States or Territory previously offered and previously adopted. He would have authority to direct what money shall be received not obtrude his own opinion of ihese reports upon the for public lands in the districts for which they are the Senate. He should pass no judgment upon these com | depositories.” munications of the Secretary of the Treasury. He This was the first resolution; the following is an exact would, for himself, merely say that he entirely differed | copy of the present resolution: in opinion with the Senator from Ohio. He considered ii Resolved, that the Secretary of the Treasury be the document in question a full and satisfactory answer directed to inform the Senate what amount of transfers to the inquiries contained in the first resolution. He of the public money has been, by bis direction, since the could not but regard those communications as among

30th of June last, transferred from the Commercial Bank, the able arguments of that officer, clearly and conclu.

and also from the Franklin Bank of Cincinnati, and also sively showing the reasons which have induced the ac- from the Clinton Bank of Columbus, to banks east of the tion of the Department in relation to its management of Alleghany mountains; giving the date and amount of all the public moneys. He was willing, therefore, to leave such transfers, and the banks from and to which they this whole matter to the people themselves. They were were made. And, also, that he inform the Senate what entirely competent to form a correct judgment they transfers are ordered from each of the above-named would do so. They would take the resolution of the banks, and when and to what banks they are to be made. Senator from Ohio; they would take the answer of the That he also inform the Senate what amount of transSecretary of the Treasury to that resolution; and they fers was made to each one of the said banks in Ohio would determine for themselves, and in that determina since the 30th of June last, and what amount, if any, tion he thought the Secretary might safely rely. He is now ordered to each." greatly misconceived if the Senator found himself sustain. The first resolution asked what amount of moneys reed by popular sentiment in the judgment which he, in Iceived for public lands in the States of Ohio, Indiana, Il.

Transfers of Public Money.

Mar 19, 1836.)


linois, and Missouri, and the Michigan Territory, has the whole course of the current year; that there was been transferred to banks in the eastern cities since 30th much more at the last returns in that State than there June, 1835, and the answer was promptly and truly was in all the New England States, with the exception given. The report stated what "amount of money" | of Massachusetts. Does all this savor of oppression? had been transferred from Ohio," &c. This was the in. Does this look like a settled determination on the part quiry, and this inquiry was answered. But the present of the Secretary to pursue a severe course with referresolution asks what amount has been transferred from ence to Ohio!--a course calculated to bring embarrassparticular banks each in Ohio, including all the de ment upon her interests, and ruin upon her citizens? posite banks in Ohio, and in Ohio alone. Would it Let it be remembered that no blame can be imputed to have been possible for the Secretary of the Treasury the Secretary of the Treasury in relation to the kind of to have inferred that this was the purpose of the Sena money receivable for the sale of the public lands. He tor from Ohio, under his first resolution! When has no power over that matter; and, if he had, he would he asked what amount of money had been transferred be the last man in the community to exercise it impropfrom the “ States of Ohio, Indiana, Illinois, and Missouri, erly. The legislation of Congress has settled that ques and from the Michigan Territory," that all the Sena. tion; they have declared what money shall be receivator intended was, to be informed of the amounts which ble for the sales of the public lands. That cannot, therehad been transferred from “particular banks in Ohio,” | fore, be a regulation of the Treasury Department The this could not have been presumed. The Senator was deposite banks will receive whatever money the laws of probably dissatisfied by the answer given to his first re. Congress require; if they go beyond this, it is matter of solution; but it was given--truly and promptly given; and regulation between themselves and the banking instituhe would assure the Senator that he would as truly and tions of the country, with which the Treasury Departas promptly receive an answer to the present, as lie didment has nothing to do, and should have nothing to do. to his first resolution. Again: the first resolution did The revenue of the country is collected principally not ask the amount or date of each transfer, but only froin imposts and from the sale of the public lands. The the whole amount since 30th June, 1835, and the names revenue is collected for the use and the purposes of the of the banks to and from which made. The answer | Government. It would be preposterous to suppose that was given. But how is this resolution? It asks for the it must remain for public expenditure at the various date and amount of each transfer, and the banks from points where it may be received. This cannot be done. and to which it was made. The known industry of the And wherever the public necessity or the public conve. head of the Treasury Department will, without delay, nience requires public expenditure, there must the pubfurnish an answer to this inquiry. No information, he lic money be concentrated. And the Secretary of the was sure, would be withheld by that officer from the Treasury would be a most unfaithful public officer if he Senate, or from the gentleman from Ohio, which they or should omit to be seasonably and sufficiently prepared at he might think proper to ask for; but certainly the Sec- all points to meet the public wants. This he has, thus retary had a right to expect that the wished for informa- far, done; and this he has, thus far, well done: and this tion should be asked in language which reason and in. seemed to him to be the head and front of his offence. telligence might comprehend.

From what has been already said, it is not at all difAgain. The first resolution asked whether any more ficult to show why transfers have been from time to time transfers were ordered, and only that; and in reply it made of the public money from one point to another was stated there were, and the reply covered the whole point of the confederacy. Much more of the public inquiry. But this resolution ask's the amount of each money is collected at certain points than is necessarily transfer ordered, and when to take effect, and the banks wanted at those points for public use. This is the case to and from which they are made. He would assure with respect to Ohio. From the sales of the public lands, the Senator that an answer to this last inquiry would be more money, within the last few years, has been receivat once given

ed in that State, than was necessarily required there for Again. The first resolution asked nothing about the public expenditure. What was to be done? Most cleartransfers to Ohio or its banks; and hence they were Jy it became the bounden duty of the Secretary of the stated only in the gross, in illustration of the transfers Treasury to cause portions of the public treasure to be therein." But the present resolution asks for the amount transferred to those points where it would be wanted. of transfers to each of the said banks in Ohio during But two considerations alone, he presumed, had ever said time. In truth, it would be difficult to conceive of controlled the Secretary in such proceedings. Wheretwo resolutions having more clearly distinct and differ- ver the public convenience would be subserved, whereent objects in view, and more plainly and intelligibly ex-ver the better security of the public money would be pressing those objects. If, then, the Senator from promoted, there the Secretary has caused the transfers Ohio was disappointed in the answer to his first resolu- to be made. But on no one occasion has that officer, in tion, if he was disturbed by that answer, he must find the the performance of this high and responsible duty, been cause of that disappointment at his own door. He has governed by any personal or political considerations. no right to impute it to any misunderstanding, to any | Tbis he believed to be the true state of the case; and misconception, to any omission of duty, on the part until an instance can be shown where the Secretary has of the Secretary of the Treasury.

been under the influence of selfish views, he will preFrom the course of the Senator's remarks, one would sume that he has been solely governed by pure and proinfer that great wrong had been practised upon Ohio; per considerations. that great injustice had been done to her interests by the

The Senator from Ohio has been pleased to say, in course pursued by the Secretary of the Treasury in re- the course of his remarks, “that there never has been lation to the transfers of the public money from Obio to a subject more shamefully mismanaged than the public other parts of whe Union. But this will not turn out to moneys have, since they have been under the direction be the case. It will be seen that, at the last bank re of the Secretary of the Treasury.” This may be so; but turns from that State, there were millions more of the he should require some better evidence of the fact than public money then in deposite within that State than the declaration of that Senator. For one, he did not there was on the 30th June, 1835. Does this look like hesitate to declare, as his deliberate opinion, in the most oppression-like partiality? It will be found that much unqualified terms, that the public moneys had been man. more was in deposite at the last returns than can be aged, by the present head of the department, with wanted for public expenditure within that State during | safety and with economy,

Vol. XII.-93


Transfers of Public Money.

(MAY 19, 1836.

He must differ in opinion, therefore, with the Senator security of the public treasure, by inspiring public confrom Ohio in this particular. For himself, he most con fidence in those institutions which should have the scientiously believed, instead of there having been any public money in charge. He was prepared to go mismanagement of the public moneys under the charge with the Senator from Massachusetts for the adoption and supervision of the present head of the Treasury of just regulations for the governmerd of the deposite Department, they had been on all occasions, and at all banks. The sooner this was accomplished, the better timas, managed with a strict regard to the existing laws it would be for those institutions; the better it would be of Congress, as far as those laws could have any possible for the commercial community. The sooner this was bearing upon the subject; and when left to the discretion accomplished, the sooner would the head of the Treasu. of the Secretary, the public money had been managed ry Department be relieved from the reiterated, but with a steadly adherence to public convenience, and to groundless he would not say malicious-attacks which the security of the public treasure. This had been the are daily poured forth against him in relation to this policy and the manifest course of the Secretary of the subject. There was every consideration which should Treasury; and although such broad and general denun. | induce the earliest possible attention of Congress to this ciations of that officer bave of late become frequent on matter. this floor, yet he thought it would be very difficult for the The present state of the money market in the princi. Senator from Ohio, or for any other gentleman, here or pal cities in the eastern States demands this measure at elsewhere, to put his finger upon one single official act of our hands. No man could be blind to the causes which the Secretary of the Treasury, in relation to his manage. produced the present pressure in our commercial cities. ment of the public money, showing any dereliction of The most astonishing fact is, that, amidst all the calami. public duty, or evincing either malfeasance or misfeasance ty, all the pressure which has pervaded some sections, in office. Where is the evidence of his mismanagement the mercantile community have been able to stand It exists only in imagination; it has no foundation in fact. erect-to maintain their high credit against all the disasIlave not all the public moneys been safely preserved? ters and discouragements which have arisen within the Have they not been transmitted from one point of the last few months. They have done so; and this circumUnion to another, as the public convenience demanded, stance alone cannot fail to inspire a high confidence in and without any charge to the public! Has not the rate the integrity, resources, and character of our commerof exchange between the most remote commercial cities cial community. There is no scarcity of money; there of the Union been as low as it ever was in the best days is an abundance of means. I here never has been a time of the Bank of the United States? All this is true; and, when the farmer, the mechanic, the manufacturer, were notwithstanding the speculations which we have so fre commanding higher and better prices for the producquently heard upon this floor, there is no good reason to tions of their labor. The present pressure proceeds doubt of the entire and perfect safety of the public mo. from the great uncertainty and doubt which hangs over ney now in deposite. He should want no easier task the action of Congress upon the subject of the public than to demonstrate this fact, upon the showing of the money. And the great amount of the public money in banks themselves, upon the ordinary principles of busi- the charge of particular banks throughout the whole ness transactions. Yet the Secretary of the Treasury is country increases, under existing circumstances, rather anxious, and most anxious, to get rid of this charge. | than diminishes, that pressure. Our superabundance will He is particularly solicitous-a solicitude which he has continue to be an evil, rather than a blessing, so long as expressed time and again to his friends in this and in the the deposite banks and the public money shall not be other House--to have this whole subject regulated by an subject to "just regulations." act of Congress; and that his duty, should any duty de. Let Congress, then, act upon this subject; let proper volve upon him under the act, may be exclusively of a and just regulations be adopted; let the deposite banks ministerial character. He could not well see how the be fairly protected; let them at least understand on what Secretary could desire any thing different. He has no they may rely; let them be told that a reasonable opporsinister views to accomplish. He has no speculation or tunity shall be given to them to pay over to the Gov. purposes to aid, through the power and influence of the ernment the public money whenever it shall exceed a public treasure. He must therefore on this point be per given amount; let them well understand the policy of mitted to differ with the gentleman from Ohio. There the Government, and all will be well. The commercial was not a particle of doubt that the Secretary was hon community will no longer experience the effects of the estly and most sincerely desirous to be relieved from money pressure; business will resume its accustomed this responsibility. But so long as the responsibility channels; activity and enterprise again will characterize shall rest upon him--so long as the duty of taking the the operations of the merchant and the manufacturer; care and charge of the public money shall devolve upon success and prosperity will, as usual, flow from their efhim, he will not shrink from that responsibility, or fail forts and from their energies, to perform that duty.

Mr. WRIGHT said he did not rise to detain the Sen. Mr. H. (in reply to some remarks of Mr. WEBSTER) ate, or to offer any opposition to the resolution of the said he presumed that he was not understood, when honorable Senator, [Mr. Ewing.] It was not his habit up before, to have said he should make any opposition to oppose calls for information of any character, although to any legislative measure having for its object the he must say, if he were to be asked what public purproper regulation of the public money now in the del pose was to be answered-what measure of legislation posite banks. He was as decidedly in favor of such a was to be affected by this, and the former call of the measure as any Senator on this floor; and, with the Sen. Senator connected with this, he should be unable to anator from Massachusetts, he hoped that the subject swer the inquiry. The calls seemed to him to be purely would “not be postponed or neglected," but that it local, and, to some extent, personal; to bave in view no would be, “without unnecessary delay, considered and public object, but the personal information and gratifiacted on" by Congress. He believed that the best in- cation of the mover of the resolutions. Thus viewed, terests of the banks which had the public money in de he thought the Senator's remarks showed that he had posite called for such a measure. He could not doubt been very unfortunate. He had made repeated calls that the interests of the commercial community most upon the same Department, during the present session, pressingly, most imperiously, demanded the prompt ac- and his complaint had almost uniformly been, not that tion of Congress upon this subject. He believed that a he did not receive answers, not that the answers were not proper regulation of this whole matter would add to the l promptly and fully returned, but that he obtained more

MAY 19, 1836.)

Transfers of Public Money.



information than he desired; that the Secretary gave from the State, and not as the amount of transfers either not only the particular facts called for, but other and to or from it. The error, therefore, is an error of the more facts connected with the subject of the calls; and Senator, and not of the Secretary; and the Secretary, and that, unasked, he had sometimes given reasons as well not the Senator, is the party which has cause of complaint. as facts. So, in the present case, the Secretary is charg. The Senator (Mr. W. said) had sought this occasion ed with having made a long and full answer, where he to refer to some proposition which he had had the hon. should have made a short one; and being required to or to offer as amendments to the bill to regulate the pub. state his official acts in relation to a given matter, he has lic deposites. The proposition related to the disposinot only stated the acts, but the grounds upon which, tion of any surplus moneys which might, at any time, and the reasons why, those acts were performed. For be found in the deposite banks, and proposed to invest this he is censored, and another call is framed, with an such moneys temporarily, and until the wants of the effort to exclude a part of the facts, and all the reasons Government should call for them, in stocks issued upon contained in his former answer. The resolution, how- the faith and credit of the States. Such a disposition ever, upon the suggestion of the honorable Senator of these moneys the Senator had chosen to characterize from New Hampshire, (Mr. IUBBARD,) has been so mod. by the appellation of “stock-jobbing, going among the ified, by the consent of the mover, as to be unexception- / bulls and bears of the stock-market, to regulate, raise, able in form, by embracing all, and not a selected num-depress, and govern the price of stocks." Mr. W. said ber only, of the deposite banks in the State of Ohio; and he merely referred to this portion of the Senator's rein that shape he was willing that it should go to the marks to say that he should not, in this incidental way, Secretary. He could promise the Senator, with entire | debate the deposite bill. le preferred to debate the confidence, that he would continue to receive facts and question before the Senate, and not, upon any proposireasons in answer to his calls, which he would find it fartion which might be before it, to debate every propmore difficult to contradict or subvert, than it would be osition which might thereafter come before it. He was for him to surmise that other facts were behind which most happy to hear the declaration of the Senator that might be of more use to him.

he would vote for his propositions, if he could get no The honorable Senator, as was somewhat the case better, although he considered them most objectionable; with several members of this body at the present time, and, in reply to this generous advance on the part of the seemed to have his jealousies greatly aroused against the honorable gentleman, he would tell him that, at a propcity of New York, and had apparently convinced him- er time, and when those propositions should come up for self that great favoritism was extended towards that city consideration, he would discuss them with him with perin the management, and especially in the transfers, offect fairness; and, should better be offered by that hon. the public money. If the fact were so, Mr. W. said he orable Senator, or any other member of that body, they hoped the Senator would discover and expose it. He should receive his most cheerful support. He had no should have all bis aid in any proper efforts to learn the pride of authorship in the propositions he had offered. truth, and, should partiality or favoritism be discovered, They were not his, but the propositions of the Secretahe would go as far as the Senator himself to condemn ry of the Treasury, recommended to Congress in his and to prevent it; but so fully conscious was he that annual report. He had made himself the organ of their these abuses had no existence, except in the imagina- formal presentation to the Senate, because he had found tions of prejudiced minds, that he must warn the Sena- / none which seemed to him as acceptable. He was as ans. tor to prepare himself for continued and increased dis- ious as any other member of the Senate that something appointments in the prosecution of his enterprise. should be done as to the regulation of the deposites of The facts and reasons returned by the Secretary, in the public moneys in the banks, and as to the disposition reference to transfers of money to the city of New of any surplus which might be found to exist. York, would be, as they had been in so many former In justice to himself, it was proper that he should here answers to calls made by that Senator, (Mr. Ewing,] too call to the recollection of the Senate the state of full, too plain, too clear, and would too strongly sustain facts in relation to this bill. Upon some of the first the acts of the Treasury Department, to meet with his days of our present session, a distinguished Senator from approbation.

South Carolina [Mr. CALHOUN) had introduced a bill to Mr. W. said he had listened to the Senator with at-regulate the public deposites. Mr. W. said he turned tention, and in his protracted speech he had been able his attention to the bill, and prepared such amendments to discover but one ground of difficulty or complaint; as he proposed to offer to it; and, having done so, waited and that one, from his own showing, most palpably rest for the time when the mover of the bill should call it up. ed with himself, and not with the Secretary. The Sec. A delay of some six weeks or two months took place, retary, in speaking of the transfers as relating to the and the bill was not called. At the expiration of State of Ohio, had given the amounts transferred from that time the honorable Senator announced to the Sen. that State, and the amounts transferred to it; and, by deate that he should not call up the bill at all, but should ducting the latter from the former, had found that the abandon it to the care of the friends of the administrabalance was some forty-five thousand dollars; thus show. tion. He (Mr. W.) then, at the earliest convenient pe. ing that the amount of moneys in deposite to the credit riod, called up the bill, and offered his amendments, of the Treasury transferred from the State of Ohio, with which were ordered to be printed. Since that time the in the period covered by the call of the Senator, was mover of the bill, and others of the opposition members, larger than the amount of moneys transferred to that had expressed renewed anxiety that it should be called State within the same period by forty-five thousand dol. up and acted upon. In the mean time, other public bills lars only. This balance the Senator had sell as the of the first importance bad obtained a preference; and whole amount of transfers from the State of Ohio, and as he thought much time was lost in changing our debates his complaint seemed to be that his error had been cor from subject to subject, without completing any thing, rected in the public papers. Surely this furnishes no he could not consent to attempt to interpose the depesfoundation on his part for complaint against the Secre. | ite bill at this time; but as soon as the fortification bill, tary, or for a charge of ambiguity in his answer to the and one or two other bills which had been much conSenator's former call, The very portion of the report sidered, and he hoped would be speedily and definitive. wbich he read to the Senate, in the course of his argu- ly acted upon, should be disposed of, he would go with ment, slates this forty-five thousand dollars as a balance gentlemen upon all sides of the House for the earliest ascertained by the deduction of the amount of transfers I final action upon that bill.

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