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?2> . > -*? t ? '.'" -r! .r*:*nrr }<? ?''<! ??' .t'l.r. A-k^jr H f-#T? ?> T r; *?' ? 5tf? ?\ ? : y<rf I " Br A. s. JOHNSTON NEC DEESSE, NEC SITPERESSE REIPUBLIC^, PUBLISHED -? i i "i \* " ' r ," ?*m i i' VOL. 84-NOi 584 COLUMBIA. S. C. JUNE 9, 1838. $3 PER ANMJ. THE gOiTTMBIA TBL3SOOP3 l B PUBLISHED BY A. S. JOHNSTON, Brery Saturday Morning-, XHXT WKDHUD T A-*D SATUROA T WORN 150 07*1X0 THI 5ISSIOX OF THS HQULITCRI. TERMS: Three doOars per annum, if paid in advance, or To or dollara at the end of the year. Ai?rK*Tiss*E.xT8 conspicuously inserted at 75 cent* per square for the first insertion, and 37i cents for every subsequent insertion All advertisements ordered in the inside every publication ? or inserted otherwise than regularly, to be charged as new for every insertion. Advertisements not having the number of insertions marked on them will be rxwiti ra iled tiB ordered out, and charged accordingly. [From the New Monthly Magazine- j BECAUSE. 44 Why ?? Because Lindlry Murray. Sweet Nea ! for yonr-lovely sake I weave these rambling numbers, Because Tve lain an hour awake. And can't compose my slumbers ; Because your beauty's gentle light Is round my pillow beaming, And flings, I know not why, to-night, . Some witchery o'er my dreaming ! Becauae we've pass'd some joyous days, And danced some merry dances ; Because you love old Beaumont's plays, And old Kroissart's romances ! Because, whene'er I hear your words. Some pieusant feeling lingers ; Because I think your heart has chords That vibrate to my fingers ! Because you've got those long, soft curls I've vow'd should deck my goddess ; Because you're not, like other girls, j All bustle, blush, and bod dice ! Because your eyes are deep and blue, Your fingers long and rosy ! Because a little child and you Would make one's home so coxy ! Because your little tiny nose Turn-f up so pert and funny ; Because 1 know you choose your beaux More for their mirth than money; Because 1 think you'd rather whirl A waitx, with me to guide you, Than talk small nonsense with an earl, And a coronet beside you. Because you don't object to walk, And are not given to Stinting ; Because you have not learn'd to talk Of flowers and Poohah painting ; Because, I think, you'd scarce refuse To sew one on n button ; Becauae I know you'd sometimes choose To dine on simple rout'on ! Because I think T*m just so weak As, some of these fine morrows, To ask yow, if you'll let me speak j My story and my sorrows ; I Because the rest's a simple thing, A matter quickly over, A church? a priest ? a sigh a ring ? And a chaise and four to Dover ! TREASURY NOTES. The Senate haviog taken up the bill to authorize the issue of Treasury Notes, to meet the wants of the Government ? Mr. PRESTON said he was altogether indisposed to mix up a eftscussion of the sub Treasury project with what he had to say on the bill now before the Senate, to provide for the making of Government money. With the hard money part of that project he bad no svmpathy during its short, feverish exis tence ; and now, being dead, he would be ] silent concerning it. " Nil de mortuis nisi bonum." By a very decisive vote, of 31 to 21, we are, said Mr. P. fully relieved from all further discussion of tbis scheme, how ever- much its mourning friends may be in dulged in eulogy and monody. There is a real and practical question before us, which we are pressed to decide with breathless haste, j now, at once ; for if we delay a moment, i honorable gentleman tell us the Government is about to be precipitated into a gulf of bankruptcy, from which it can be rescued op ly by our utmost speed. It is new F riday evening ; the General Government of the United States cannot pny off its laborers to morrow evening without this bill. Without this bill the hod-carrier at the public build ings must go without his Sunday dinner. If -we do not pass this bill now, this instant, the Government is disgraced, the public faith ! violated; there is no alternative ? disgrace or ! -this bill, this identical bill, just as it stands, without substitute, alteration, or amendment j of any kind ; and he who will not at once j eageriy take it, just as presented, is little less 1 than a traitor. Now, Mr. President, I am not altogether contented with this bold urg ing by the Administration, of its own negli gence and incompetency, as reasons why we should not deliberate; that, because they have not done their duty, we should not do ours ; that, because their prodigality has exhausted your Treasury, and their negli gence has not announced that fact until the Jast moment, we should be deprived of all discretion upon the ways and means, and 4riven hastily to register the edicts of the Executive. That portion of the Senate which, either from habit or from recent illu mination, believe in Executive infallibility, may well believe that all discussion of Exe cutive recommendations is very useless, and, perhaps, vejry impolite ; but it is pushing this complacency and acquiescence very far wheo a similar self-sacrifice is demanded of those who neither have the habit, nor have seen the apocalypse. I by no means, sir, desire to stop the sup plies ot Government, believing that it is our duty at all times to make such appropria tions as may be necessary and proper to sustain its action. If we should refuse to vote a competent salary for the President or Judges, we would unquestionablv violate the Constitution by omitting an important duty. But it is a very different question how the money to discharge these salaries should be raised. We must adopt some mode ; what it should be is addressed to our discretion Tfct annunciation of the^j truisms would be i ridiculous, but for the virtual denial of them Htyp|iedin the language of Senators who hold that opposition to the issuing of ten millions of Treasury bills is the advocacy of Govern ment insolvency. i For one, sir, I should hold myself guihy of a gross violation of public duty if I with held the supplies necessary; and I should hold myself equally guilty of a gross viola tion of public duty if I voted for this bill; and I never will, under any pressure, how ever brought upon me, whether, like the present, it be either the result of incapacity or of a purpose to make an emergency, neither in war nor in peace, will I ever vote for the issuing of Treasury notes, bills of credit, concealed loaus, continental money. The argument for the bill is the haste necessaty. Those who urge the necessity urge it as an argument. The necessity is perhaps made for the sake of the argument. The breathless haste with which the chair man came runniug into the Hall with the bill seemed to indicate that he and his friends had been taken altogether by surprise ; that bankruptcy had slily crept unawares upon rhern, and was about to pounce upon them by one portentous leap. Why has not this state of things been foreseen and forearmed against? Why have we not been provided with a system of finance to relieve us from these paltry expedients ? this living from band to mouth 1 Here, in the sixth month of the session, the President of the United States comes into Congress with a beggarly account of empty boxes; supplicating Congress to dismiss all other matters, and hasten to the relief of Government. Why have you per : mitted this pitiable and disgraceful spectacle, now Tor the first time exhibited, of the Presi dent warning Congress of the Government bankruptcy ? There Is no excuse fi.r, no palliation of, this unprecedented negligence and incapacity. The chairman of the com mittee st3ted to us the other day, when he proposed the sale of the United States Bank bonds, that it was all the Senate could do to wards replenishing the Treasury. If this were true, as it is not, why was not that mea sure produced early enough to avoid this shameful crisis? Why were not the pro ceeds of those bonds now in the Treasury ? If this had been done, we should have been allowed breathing time. But is this all the Senate could have done ? Let me call your at eation, sir, to the first sentence of the President's urgent message. He says : *? 1 submit to the consideration of Congress a statement prepared by the Secretary of the Treasury, by which it appears that the U. States, icith over twenty-eight millions in de posits icith the States , and over fifteen millions due from individuals and banks,- are, from the situation in which those funds are placed, in immediate danger of being rendered unable to discharge, with good faith and prompti tude, the various pecuniary obligations of the Government." Now, sir, it was competent to the Senate to originate measures to recall these depo sitee from the States ? as much within the powers of this as of the other House. The Administration members who have possession of both brauches might have introduced a bill in either to demand the whole, or any portion, of these 28 millions; and, in my opinion, their shrinking from this obvious course is a reason why we should look with suspicion upon the proposed measure. Why do not gentlemen calf on the States for those deposites which are thus set forth by the President? A bill introduced in due season would have replenished the Treasury by this time, for the Legislatures of many of the Slates have been in session until recently, and all have been in session since the meet ing of Congress, and siuce the present con dition of things was foreseen by every body except, perhaps, by the Secretary of the Treasury. When, at the extra session, the first bill for the creation of Government paper money was before us, I suggested and urged the propriety of drawing upon the deposites in the States. The idea seemed to meet with some favor from the Administration side; but it was said, we have no time ? the case is too urgent; and this is a single instance of the issue of Treasury notes, not to be followed up. Now there is a second instance ; time urges again ; bankruptcy has surprised gen tlemen twice a year; and twice we are called upon for Treasury notes* under the subter fuge of haste. Why is this, Mr. President? Why this puerile pretext, which, if it were aught but a pretext, is such an avowal of in competency as should be followed up by the resignation of all concerned ? The alternative for those who govern us is of fraud or folly. But I believe, Mr. Presi dent, there is not much difficulty in ascer taining the true cause of this reluctance to demand the deposites, and willingness to is sue the Treasury notes. The issuing of Treasury notes is a quiet and unostentat ous proceeding, rousing neither individuals nor States. You silently get the desired sweets without exciting the swarm, whereas, if you demand the deposites, it is striking the hive, and all the inmates are forthwith about your ears. If you ventured to call upon the States, they would turn upon you and inquire, for what purpose is all this money wanted ? ? What measures have brought you to this condition ? In short, by making this call, you would effect what was the plain object of the deposite law ; you would excite the vigilance of the States, -'nd make them, to use the phrase of the times, antagonist to your prodigality; and surely there never was a time when the Administration more needed money, and the country could less spare it. Broken aud tumbling to pieces as you are, you stand in need of prodigal appropriations to buy off the vengeance which your prodi gality has brought upon you. You seek to purchase silence upon your spendthrift dis bursements by more extravagant expendi tures. There is not one single act of re trenchment performed or in progress. There is no pretence of economy. The Depart ment asks for twenty-two millions ; when it is known that when these reformers and re trenchers came into power, twelve millions were enough ; and besides this,audacious de- j mand ? from those who, it was proclaimed for their country's good, would be, with miracu lous speed, the most economical of all possi ble politicians ? there are now bills before us proposing appropriations of more than forty millious. No one has proposed to cut otf any branch of extravagauce, and no party measure has been proposed to organize a system of economy. Are there any prop? sitions of reform ? Any committees of re trenchment? You have not given up one of your useless and corrupting projects. Not a harbor; not a light-house; not a pension; not even your notoriously useless Cumber land road. In truth, sir, you dare not ; this Administration cannot give up any one means of influence and corruption. My colleague proved in a masterly report a few years since, that its foundations were in money and pa tronage ; take those away, and the swift de struction which, in spite of power and pa tronage, is coming upon it, will overwhelm it in the twinkling of an eye. The Adminisfration can neither restrain its prodigality nor permit the People to know it. They Jare not rouse the antagonist vigi-, lance of the States, and theiefore resort to indirect by-ways of raising a revenue. All that is wanted, is the silent hand of the en graver*, a little ink and paper. It is a most noiseless operation. " Let the People slum ber on in sweet repose : Heaven forbid that we should wake them." - Now, Mr. President, this is exactly what I desire. I wish the People to know and feel what you are doing^-~i~~tffesire to see a main object of the deposite law accomplished. A direct appeal to the States and the People for money, would be a real and efficient check, not only upon your extravagance, but upon all your misdeeds, for it will immedi ately create a spirit of scrupulous investiga tion into the whole conduct of the Govern ment. I believe, sir, that a necessity of rais ing your revenue at all times by direct taxa tion, would be in itself a more searching and vivifying principle of liberty than all the checks and guards of the Constitution, how ever wisely conceived. To the mystifying influence of indirect taxation, you now pro pose to add the still more remote, silent, and unintelligible process of creating money. You shrink, altogether, within yourself. ? You plunge into the dark recesses of* your safes and dungeons to counterfeit money, because you arc afraid to ask the People for it. One year has already illustrated the fatal tendency and inevitable destiny of this sys tem of making money. The issue at the extra session was said to be temporary, and but for a short season. You now are about to repeat it. You will doit again and again. You will expand and extend your issues. You will push them, as all Governments have in all ages, to extreme ; to deprecia tion. You have tasted once of this intoxi cating draught, and now return to it with a keen relish; again you will collapse, 'and again return to it. Even now there are strong symptoms that this luscious and exhi larating beverage is beginning to be consid ered as a regular ingredient of the Govern ment dietetics. It begins to be whispered that a permanent system of Government pa per may not be that wretched parent of pub lic and private demoralization which all time has proved it to be, and perhaps one induce ment for proposing the present measure may be to familiraize the public mind bv degrees to what no one would dare open*^ avow as the ultimate object of the Administration, viz : the establishment of a Government pa per currency. It is necessary to approach this consummation warily. The People have some ugly reminiscence of continental mo ney. They have heard of the French as signats. Many remember the North Caro lina proc money. They would be shocked with the 44 heinous" mien of this "monster" if the veil were suddenly dropped. But if they can be brought to 44 endure" it, why, | in the regular progress of moral degradation, j they may at length be brought to "embrace" it. And when the country is debauched in- j to this embrace, when we are brought to agree that this Government sh;ill create its own funds, for its own purposes, I would not give you a baubee for your Constitution. Its checks, limitations, and restrictions, are j a mere mockery. When the Government can make money ad libitum , it will spend it ad libitum. I am very strongly persuaded that you have no power under the Constitution to is sue Treasury notes. My colleague states that he intends to vote for this bill, but would by no means, under any circumstances, in war or in peace, vote for a loan. This most emphatic declaration of his opinion that the proposed measure is not a loan leaves it up on the Tooting of paper issued upon the | credit, of the Government ; and all parties | admit that it is intended for circulation. ? These two qualities combined make the de finition of bills of credit; and such, sir, we j have no power to issue under the Constitu tion. And, in the first place, appealing to the highest canon of constitutional constiuc tion, 1 demand that the power be pointed to me. Where is it ? Where is your author ity to issue bi*# ; of credit? It is expressly prohibited to the States; is it expressly given j to this Government? Whatever was so sub stantive as to require express prohibition to the States, was sufficiently substantive to re quire express grant to the Federal Govern ment. The silence of the Convention in one case is as emphatic as its language in the other. This Government, to be sure, has the power of raising money ; but it is a definite power, limited to certain objects, and circumscribed also as to the mode ol doing it. There are two modes of raising money permitted by the Constitution : 1st, by laying and collecting taxes, imposts, &c.; 2d, by borrowing money. Congress shall have power to lay, &c. ? Congress shall have power to borrow money. There the powers of Congress cease. It is not added that Congress shall have power i to issue bills of credit. If the power to raise money had been granted in general terms, it might have been argued, with some plausibility, that all modes of doing it were included in the grant. But the modes are themselves the subjects of express grant and enumeration ; and, by a clear rule of con struction, an enumeration of some particu lars excludes those not enumerated ; and the application of this rule is especially strong in the present case, from the fact, that at the time of the Convention, bills of credit were the most frequent and familiar mode of rai sing money ; and their intended exclusion might be strongly inferred from the odium into which they had justly fallen. The modes expressly authorized in the Constitu tion are abundantly ample fo^ all the pur poses of revenue. The poorer of taxation is that of confiscating the property of the country for the purposes of Government. The power of borrowing is limited only by the extent of the Government credit. Sure ly this is enough for ail honest and legiti mate purposes. There are practical restric tions on both these grants of a very efficient character: upon that of borrowing, the want of credit, if it be wantouly pushed i upon that of taxation, the resistance of the people taxed; but, upon the assumed power of ^emitting hills of credit there is no restraint resulting from the nature things. The will or the wantonness of Government pre scribes their own bounds ? bounds that never have, and never wi)i be ascertained, but in the utter exhaustion of a totally deprecia ted currency. But the argument against the power does not reft exclusively upon the application of these obvious rules of construction; but de rives strength fronr the proceedings of the Convention upon the subject of bills of cre dit; and which places the objection upon grounds which must, at least, be conclusive to all who hold a United States Bank to be unconstitutional. The denial of the constitutionality of that institution rests mainly upon these two grounds: 1st. That no grant of power to create a bank is found in the Constitution. And, 2d, That, in convention, the proposi tion to endow this Government with the pow er to create corporations was negatived. ? Both objefctions lie against bills of credit. The proposition granting such a power to Congress was expressly made to the Conven tion by the report of a committee ; it was fully discussed, and rejected. Luther Mar tin reports the various views taken. He him self was in favor of the proposition, and considered the proceeding of the Conven tion in denying this power, as an unwise re-' strict.on upon the powers of Congress. I refrain, Mr. President, from pushing this argument into any further detail, as the ground has already been fully and ably occu pied by a distinguished member from Sopth Carolina, in the other House, to whose views j I could add nothing. He and my most worthy and most republican friend, the ven erable' Senator from Tennessee, have prece ceded and given me the sanction of their au thority for this position. Although my col league considers this bill as by no means a borrowing of money, gentlemen who act with him contend that it is, in effect and sub stance, a mode of making a loan. If that be so, sir, it is not the less unconstitutional ; or it has the form and semblance of bills of credit. And although bills of credit may be, in effect and substance, a loan, they are not the less unconstitutional ; for the Constitu tion prescribes the form and manner of rais ing money. It allows you no discretion as to the form and manner. If this be sub stantially a loan, borrow the money, as the Constitution directs you. But it is objected that borrowing money is a dangerous expedient, inasmuch as it creates a national debt, and therefore that bills of credit are better. So thought not the Convention ; and, for my part, (though I have no fancy for a national debt,) 1 would rather encounter it than be wise beyond the Constitution. Whether the issuing of bills of credit does not create a debt equally with ibe borrowing of money, I sh ill inquire by and by. Jb or the present, 1 have to say that 1 greatly prefer the plan ol borrowing, not only because it is prescribed in the Constitu tion, (always sufficient for me,) but because it brings you fairly before the People, drags you from your lurking places, overrules your pleas in abatement, and puts you at the biir of your country. \ es, Mr. President, go to the People? the people, whose money you have squandered, whose commerce you have destroyed, go and ask them, in the constitu tional modes which they have prescribed, lor more money. If you desire to avoid any thing but the appearance ol* a national debr, advance boldly to the People and ask for money. Seud out your tax collectors. ? Abandon this paltry subterfuge, and come up openly to your object, and with all your purposes avowed and acted upon. Send the tax collector with your demands for money-" tor hard money, Mr. President. 1 should be glad to sec you send your tnx-gatheieis through the country with their leathern bags or green purses demanding to have them filled with hard money. This would bring: your theories to the test. This would deck e the question as to what medium you should be paid in. Demand gold of the hard-handed farmer, who has returned from market with the proceeds of his produce, and when he oilers you what the policy of his State has placed" him uuder the necessity of taking, tell him that you scorn his dirty trash, that precious metal alone is for you. Hold this language to him and to his family, and then, if you can, come back here with your wild schemes, do so, and make the most of them. 1 should most heartily rejoice to see your svstem, for a short time, brought practically into operation by a direct tax demanded from the people in gold and silver. It was the great fraud of the tariff system, that its ope ration upon the tax-paying community was so circuitous and involved as to be difficult of clear, or, at least, of Succinct exposition.? The process admitted of cavil and mystifica tion. JSo too, in the system of measures now recommended, and especially in the bill now before us. You disguise and co. ceal the ultimate effect, by throwing it upon a future time when it will be mixed tip with other matters, in the confusion of which you may find an argument or make a sub terfuge. 1 defy, 1 dare, the Administration to come out frankly with their projects, so as to submit them practically to the People. Demand your deposites from the States, or openly borrow money while you have so much on deposite; or, having dried up the revenue from imports, by destroying com merce, order a direct tax to be paid in ?pe CI0, Some Senators approve of the proposed j issue of Treasury notes, because they say they will not agree to create a natioual debt. I can perceive no difference in effect between the obligation to pay these bills when pre sented, and any other obligation recognising a debt. A Treasury note is issued to dis charge a debt now due, by creating another to fall due hereafter. If you borrow money, you acknowledge ^ debt for moAey received. When you issue * Treajrity note, you acknowledge a debt for services rendered. I do not think thattte Jictootabie chairman of ihe committee on Finance, whose candor an?f perspicuity are nckno*Mge<Mn all hands, rill conrend that this Jitf does not au thorise the creation of n national debt. Tne Senator intimates that lie *wllaot <?n]?nd for it. He admits that It is a^ational deit. Indeed, the terms of the law of the extra session, which this proposes jto levive#, a*a unequivocal. They are: t ??That the Secretary of the'Treasury be, and he is hereby aUthorrted and Erected to cause to be reimbursed and the princi pal and interest of the Treasury which may bfc issned by virtue of thSTjtct. ... * > f ? ? For this reimbitfsement, at the time and times hewn specified, ^the ^ith of the United States is berejpy pledg ed.*' ? ' ( : 1 >4~'~ > At the extra session a bift fyr the ??ie of ten billions of Treasury note* was P33^ .meet an emergency, as it was Said?Mf^lin^ expected crisis, fiere, now, is another etnwr* gency? another unexpected crisis. In truth, sir, I believe the Treasury habitually exiata in a state of emergency^in a critical condi tion- But admit that we are overtaken by circumstances which wisdom could not fore see or prudence avert ? what is our duty . Why, to do what is necessary to pass the ciisis, and nothing moie, until we can sit down coolly and devise the most appropriate measures. And this is the course indicated bv the amendment proposed by the Senator from Massachusetts. He proposes to grant two millions of Treasury notes, which will relieve the pressing necessities of the Gov ernment, and allow us time to look about us. Indeed, sir, I believe that a hesitating and stinted allowance, from time^ to ,'m?? ^st enough to keep us along, might tend l to enforce a wise lesson of practical econo my. We have long wasted our substance with riotous living. It may be well for us to be reduced to husks for a season, that we may be brought to acknowledge our sins. Undoubtedly. Mr. President, when. we do so, and return to the safe precepts of our fathers, we shall be again in the midst of comfort and abun dance. But this consummation will be post poned yet for a year or two; aud for that time, perhaps, it will be necessarv to pro vide. 1, sir, prefer borrowing to Treasury notes. But why resort to cither beyond the immediate pressure of the moment, when the President tells us, and we all know, that we have 28 millions on deposite? *Ca"jn your debts; check for your deposites. Tne course is direct, plain, obvious; precise y that which any prudent individual would pursue : being pressed by his wants or his creditors, he would call upon his debtors. This, sir, is your only true policy; but, in stead of it, you propose to create a national debt, to encourage stockjobbing and specula tion, and to lay the foundation of a future high tariff. 1 warn my colleagues of the South that this creation of ajwuonal debt is playing into the hands of those who have de ceived us once upon the tariff, and fastened it on us. I beg them to remember that the Administration opposed the compromise, and endeavored, at the last session, to violate it; and boasted that they would have succeeded but for the South Carolina votes. I beg them to remember that? national debtin 1842 will be cause for a netf imposition of duties; ana i hat, at this moment, and forward to that pe riod. this blundering and falling party in pow er co\i Id desire nothing more ardently than to have a vital question of this kind open for them to play their desperatepajfly game with. What were the terms on whicaf we deposi ted the surplus revenue with th^ .SiatesJ Did we say to them it is a gift, or did we not* on the contrary, expressly deny that position 7 I call the recollection of the Senaje to^tM facts in relation to that bill, the manner ofth? executiou of v bich is the true distress which we all now feel. WhfJJ|tJlie opponents of the bill charged upon us that cur real objec t was to give that uioney-tQLjJi? States, we repelled the charge with indigna tion. For myself 1 thought the charge**! imputation on my political honor. I woula have voted against the bill had I believed that to be its purpose. In that view its operation was most unequal. It gave to my owj state in the proportion of one million of dollars to (our millions to New York; yet my ^tate contributes to the revenue in the inverse ratio of what she received. Y ou remember, sir, tne Southern doctrine, that the States pay mto the coffers of the General Government in proportion to their exportation, and not their consumption. If that doctrine be true, (and I have seen no reason to disbelieve its trutn,) then I should have been most unwilling tor South Carolina to receive so^small a pittance of what she contributed to the revenue, wni e N ew York received four times as much, .but I denied it to be a gift, and I stated at that time, in nsv place, that if the General Govern ment should ever be in a condition to need the money, I was ready to pledge my State that it should be paid back to the last dollar. I now call upon the Senate to carry out, in good faith, the provisions and principles ot the deposite bill, and to demand from all the States their respective quotas of the amount then deposited with them. The deposites were made with the States according to their popuUion^u origioalJv passedt it wou!d have been the imperious duty of the Secretary of the Treasury, in the present state of our fin ances, to have prompily demanded whatever sums are necessary, the precise contingency contemplated iu the act having occurred. A the last session, however, it was supposed that the discretion of determining on this contin gency could be more safely cbnfided jo Con gress, and, therefore, the act was so amended as to require that the Legislature should, ?t its pleasure, make the demand. If the case provided for has occured, it is as much our dutv to proceed as it would have been that ol the'Secretary; aud J now demand of gentle men, 44 how dare yon, in the face of this ac , presume to borrow money ? how d*re you, with such a resource at your command, resort to any other means whatever? ' By passing the bill before you. you ipso facto repeat the deposite law. No gentleman will rapport that that law is at an end, and all hope that quarter out of the question, for the Pre sideat himself talks to us about the twenty eight minions on d^gpiit* and 40 Government- Ttyrqufstion is whether y?U wiH how repeal it, and thus pWe the South ern States iti a typfawti where they may V ground down wider 1 system of exce^lu taxation. ' . ^ ^ ^ V ; Cut k said the States might find it incon venient to repay this raonef, and tht* the de mand way oppress them. Jntbe *o,&rone# T had rather that South Carolina should meet the demand bow, than tneetit in the shape of a tarifffttir years !iebCe?flfcr credit is good, bcr .resources abundant, and, if she has not sot the money, l&e cali 'borrow it on as good terms fts to u can. $0 can. all the other State*, iheir credit is as good as yours. It will be easy for ihc?>Statrs to meet the ?wer gency.. It mafhe said tliat these quern Hour the States will not be enough, *ren with the two milHoai of the Treasury notes. Add *fnt,fcy the -terms of the act, you are athb erty to draw firotn them, to the proceeds *f the sale of the United States Bank bonds and the accruing revenue, and fou will find there . Is enough, even for yoar habitual prodigality : but if it begot, then your reduced meana will enforce a salutary ecpeemy? an ^ocomy which, I believe, uo thing but the iron hand of necessity can enforce It *? oue of lbf most d'iffi cult efforts of private life to break through fixed habits ofextrara|iint Jiving, and reduce one's expenditure within the limits of a reduced income. Nor is this difficulty ow ing alone to the violence done by each a pro cess to our vanity or pride, t. It is #u?, more the violence which must be done to the 'or^e of habit. It is, in fact,. a change 4n our mode of existence. And if this is so difficult with individuals, it is, on ev^ry account, still more difficult with Governments. Now* fiie $?? ernment of this country, since jl^e comiiig w of this most economical istiicil ever professed economy, has, in three yea 1** spent upwards of $100,000,000. \ es, sir, under fhis most patriotic, most pure aud self denying, and most economical of 'all ,pw#|Me parties, thus much has been expended ; and there are now propositions before the two Houses of Cougress for the expenditure of ?40,000,000. Sir, this evil has a perpetual growth, and I see the necessity ot applying to it an immediate and effective, though per haps an unwelcome and caustic, remedy.? Let the Government be taught by necessity to cut dowfi its expenditures;, but if we will not be restraiped by our fears, let us at least yield to the sense of shame. ? I^travagance is our disease, retrenchment ouronly renpfdy This bill comes to us under peculiar cir cumstances. Does any gentleman suppose that the popular branch of- this ?ornament could ever have passed this bill but under the most pressing appreliensioip that the .fund for internal improvements would be exhaus ted ? A few votes wou]<T,have turned the scale. Who knows but, after all, it was pass ed for the sake of some harbor on i^ke^ On tario, where a member's constituents had the hppe that $10,000 or 820,000 of the public money was t^ be exp^dedt Who can say but it' was the Combe/land road that passed the bill T Sir, vou know ;fc?w these things are managed, ^he coosutnfltfs of -genUe men are in the habit of instructing them, or at least of electing them under a pledge or understanding that they shall vote for some expenditures in that quarter. Maryland, Virginia, Pennsylvania, were all interested in the bill, and they had all bad their day,? now, Ohio, Indiana, and Illinois come upod the field ; they insist upon their share of the road. Well, sir, and do ypu suppose that the road is to stop there ? .No, sir, it* re freshing, its fertilizing WW^nce is to pro ceed westward. The People will have it. They hold their representatives responsible# especially when on their return home they will have" to mount the steps or ump, and demonstrate to their constituents thtf they had lost the road because Tietoury notes were a bad thing, and their ftpwej tatives could not vote for them. To nola language like this, requires some courage? and while 1 would speak with due respect & those in both Houses, to whom the People have thought fit to confide their most impor tant interests, I cannot but remember, tM? after all, they are men and of like with Others. And yet, with all th??e obsta cles, strong was the repugnance, that the bill was sent to us by a tie vote. It w not be' in order for me, at this time, to ofl& the amendment 1 propose, un less that offered by the honorable gentleman from Massachusetts^ (Mr. Web?ter )or^?e thine like it, shall be adbpted, If itbe tnie that the whole aimount of 810,000,000 is im mediately reqhired, then there is do oc? siou for' inv amendment. But surely the whole caoWt ?* ouce b? $2,000,000 are insufficient, ^,000,000 wih surely do for tlrt we?nt. I cannot. mweHj vote for any amendment wtacb MBttllWlWW the issue of Treasury n^Vj.bnt, the amendment of the hpnonbli RcnUeman shall succeed, I shall then offer.Toi the adoption of the Senate, the following s And be iifurtlitr enacUd , T|bat the Se cretary of the Treasury is hereby author ised and required, to make requisitions ttpon the States according to the provisiOilMjf the Act of the 23d June, 1836, for such sums as the expenses of the Gof^mment may require. U JM? ? 1? sofXandsettee bedsteads. AT E Brittin'a Furnlmw W?rs-Room, ? hrnd tome m.d ooiiYemei* trtiel#?hichaie offerrd un reasonable terms, wuh agff* Post, Field and Frcnch Bedstead^aUo Fsncy ket?. Floor M?w, Toilet Work Boxes, Opti<*s wMb pi^, wm* cSiks end Cbniw, 1 W y "it*' ^ v : Matt ra?e? of Carted Blir,1^wl, Wow .and Cotton. Nov. 85 *' " _ ? 1 ? " , " . vYcgrOe* "ttftmtcd. THE Sobacriber i ? de?if<>o? of hirina 50 er tV) ?tt?dfc?aas s?S b?k of theComs^mel Bank.^ jfESWTT. Colnmbmy A?fg . -f* ^ jpaasuiWft IV KKAT LBTTU* ****?. 1 !"!?&_ Erecutrd with Accuracy qjfj?**1*' ^