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millions, New Jersey and Delaware had none; and beyond all question it was this sentiment which produced the supplemental act. It was then the bounden duty of the Secretary to take from those points where it had accumulated too much, and to put the money where there was a deficiency. He would have been false to his duty, he would have failed to have answered public expectation, if he had not done this. He was bound to make these transfers and these changes as gradual and as easy, and in a way to produce is little sudden fluctuation as possible. To make them, he was under an imperious obligation. But the deposite bill has other important provisions, imposing other and different duties and obligations upon the Secretary of the Treasury. He was required to make an equalisation of the public money among the States, and to collect and to pay over to the States (with the exception of five millions) what should be in the Treasury on the 1st of January, 1837. He was, in truth, to prepare to apportion among the States nearly forty millions of dollars; and on the 1st of January he was to deposite one fourth of the sum with the States, in proportion to their representation in both Houses of Congress; and the whole surplus then in the Treasury was to be transferred on or before the 1st day of October from the deposite banks, and placed with the several States; and this part of the duty of the Secretary has been commenced and prosecuted with as little embarrassment as possible to the commercial and mercantile community. The distribution has not yet all taken place; far different. From what has been said, here and elsewhere, one would naturally infer that the Secretary of the Treasury had actually removed to the several States their respective proportions of the surplus which would be in the Treasury on the 1st of January next. Let us for a moment see how this matter is. There is now in New York an excess of six millions; and when Congress adjourned, New York had in deposite nearly thirteen millions. Upon the basis of dividing among the States thirty-seven millions, she would be entitled to retain only a little over five millions. She has now in deposite, as appears from the last returns, eleven millions and six hundred thousand dollars. New York, then, has not been depleted. The collections there made for customs have very nearly kept pace with the transfers which have been ordered from that city.

There is now an excess in Massachusetts of over a mi lion; she has received $300,000 more than she had when the bill passed, and she then had $300,000 more than her share of thirty-seven millions. In Louisiana there is an excess of over three millions; in Mississippi one and a half; in Missouri over a million; in Alabama, Ohio, Indiana, and Michigan, there are now excesses of the public money, as will appear by an examination of the table appended to the annual report of the Secretary of the Treasury. On the 23d of June last, eighteen out of the then twenty-four States had less of the public money in deposite, within their limits, than they would be entitled to have under the provisions of the deposite act; while New York, Massachusetts, Louisiana, Mississippi, Missouri, and Alabama, then had and now have excesses; and not a single one of the eighteen, by transfers, has yet received its proportion of the thirty-seven millions. The Secretary clearly had the power to fill up and equalise the whole; his forbearance alone has saved, as I have remarked, if not the banks themselves, certainly many of the commercial community, from entire ruin. For I am most free to admit that the pres ent distress and pecuniary pressure is most severe. What would have been the consequences if the Secretary had caused to be transferred the whole thirty-seven millions, can better be imagined than described.

I bave said that Ohio and Indiana have now an excess. The fact is so; and it arises from the sales of the public

VOL. XIII.-10

lands in Indiana.

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The nearest deposite banks to Indiana are those in Ohio. The banks in Indiana, and they are all employed, have now an excess beyond the proportion of that State of nearly a million. The Secretary was bound to make transfers, from time to time, from those banks, and hence it accounts for some of the transfers to, and deposite in, Ohio.

Upon the basis of depositing thirty-seven millions with the States, from the last returns, it will appear that Maine is deficient in the sum of New Hampshire Vermont Connecticut New Jersey Pennsylvania Virginia

North Carolina South Carolina Georgia Tennessee

$700,000

250,000

700,000

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250,000

460,000

1,080,000 1,600,000

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And that Rhode Island, Delaware, Illinois, Arkansas, Maryland, Kentucky, are also deficient, which deficien cies make an aggregate of more than ten millions; and at the same time, of the five millions left in the Treasury, not less than three and a half would ordinarily be required in the States above named.

The Secretary has begun gradually, proceeded gradually, and will accomplish gradually, the deposites among the States. The whole cannot be completed until the 1st of October, 1837; more than half will have to be done after the 1st of January.

It has been said, by way of objection to the course of the Secretary of the Treasury, that all this should have been done by keeping the whole money in the great commercial cities until wanted. That officer would have been faithless in the performance of his public duty had he so done. The deposite bill was passed to remove such great accumulations of the public money to places of greater security. This was an argument repeatedly urged in favor of the bill. It was alleged that so great had been the accumulation at particular points, that the public money in some of the deposite banks was insecure. It was matter of constant complaint, that immense amounts were in New York and Bostor, giving to them great and exclusive privileges in the use of the Government funds. It was contended that the money should be carried home to the respective States in just proportions, and there deposited, for the use of the people from whom it was collected and to whom it belonged. And I again repeat that the Secretary was bound to make the transfers with all reasonable despatch. He has done it; and in doing this he has done but his duty. And when the present excitement shall have passed away, and men shall consult their reason more, and their passions less, I hazard nothing in saying that the deliberate judgment of the community will be, that, in the execution of the deposite bill, the Secretary has done no more than his duty.

These transfers from the great depots, from our commercial cities, could not fail to produce disorder and embarrassment in exchanges, and pressure in the money market, among business men. It was anticipated. I well recollect, on my way home in July last, that the very consequences which have taken place were then represented as effects which must result from the execu tion of the deposite bill. It was said that it could not be otherwise; that the commercial cities which had received the money, and which had loaned the money, would be obliged to collect the money for other places, and thus a sensible embarrassment would be thereby unavo dable.

But is that of itself any reason why Delaware and Tennessee, Kentucky and New Jersey, New Hampshire and Vermont, should not have their portion

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of the public money, as well as New York, Louisiana, Massachusetts, and Mississippi?

[DFC. 27, 1836.

ordinary, this violent pecuniary pressure in our cities. It has been said that the pressure is not as great as is rep. It was far better for the merchants themselves to part resented. I know it to be ino-t severe. When the with the money by degrees, to commence before Janua- best notes in our cities are sold at a discount, and sold so ry. It has been said (with a view of showing that an un- as to yield an interest of two, three, and even four per necessary pressure has arisen from the manner of execent. per month; let no one say that the pressure is mere cuting the deposite bill) that the United States Bank pretence. It is an awful and cruel reality. It is but the paid the national debt without any distress. That is by effect of our own policy. If we had left in the pockets no means a parallel case: but even that was not done of the people the money not wanted for the ordinary without some time and indulgence being extended to uses of the Government, if we had prevented the accuthat institution. That debt was paid as it was due, in mulation of such an enormous surplus, if we had been the great cities, and not in the interior. But portions compelled annually to contract loans to meet current of it have been just as well paid by the deposite banks expenditures, business would not have been diverted since 1833, as by the Bank of the United States prior from its accustomed channels, wild speculation would to 1833. But the two cases are unlike. Deposites with not have stalked through our land, and the present presthe States are not to be paid to creditors in our great sure and distress would not have been felt. We should, cities, but to States at a distance, and in the interior; and Mr. President, now unite in preventing the repetition of hence the cause of the existing pressure and derange- the evil, by removing its cause. The surplus found in ment. But the main, the moving, the original cause of your Treasury was the original cause of the present pres all the pecuniary distress which has occurred, may be sure. It was our acts of the last session which were traced to the excessive surplus in the Treasury. It was auxiliary in bringing about the present state of things. the fact that our Government had thirty or forty millions I know that it is very convenient to make the organs of of dollars unemployed in the deposite banks, not requi-Congress (while faithfully, but fo bearingly, executing ed to meet the necessary wants of the Government; it the laws) scapegoats, not only for the effects of those was this great accumulation of money, this enormous laws, but for all the improvidence, rashness, over-traamount of unappropriated funds, that induced specula- ding, and speculation, of Europe as well as of America.; tion and over-trading. The national debt had been fully I have nothing further to add, in answer to the charge discharged. The compromise act led to the belief made against the Secretary, for the course pursued by that the tariff would remain undisturbed; that of course him in the execution of the deposite bill. I should not the receipts from customs and from lands would greatly have troubled the Senate with any remarks, had I not exceed the public expenditures. This state of unexam- wished to avail maself of this opportunity to speak of pled and unprecedented national prosperity, these exthat measure. I gave my vote in favor of that bill, and traordinary resources of the country, have produced one I have reason to believe that that vote has received the of the most extraordinary revolutions in the business of decided sanction of the yeomanry of New Hampshire. the country which has taken place since the close of the The bill passed both Houses of Congress by unexampled Revolution. majorities, and yet the minority in the Senate, as well as in the House of Representatives, comprise some of our most distinguished statesmen and purest patriots. The bill, as it passed, was most emphatically and most truly nothing more nor less than a bill for the regulation, dcposite, and safe keeping of the common treasure of the whole country. There is no room for doubt, with respect to the character of that measure. The thirteenth section of that bill, among other things, provides that the States receiving their proportion of the surplus shall pledge their faith to pay the said moneys, and every part thereof, from time to time, whenever the same shall be required by the Secretary of the Treasury, for the purpose of defraying any wants of the public Treasury." Whatever may be the practical operation of this measure, it was regarded at the time in no other light than a bill to regulate the local banks, having the public money in

Within the last eighteen months the capital of the country has, to a certain extent, taken a new directior. It has changed hands; it is no longer under the control of our commercial and mercantile community, a community which is now more severely and intensely suffering from the pressure than any other class. I say that it was the surplus in the Treasury, it was the amount of unemployed public money, which has brought this evil upon us; which has induced every species of speculation; which has quickened the zeal, animated the spirit, and put in requisition all the active energies of the adventu rer. The history of the times shows that there have been most unprecedented speculations and over-trading. Speculations not in the public lands only, but in stocks, in banks, in railroads, in canals, in lots, in every thing that the wit of man could devise. This mania for speculation has pervaded our whole country; it has reach-deposite, and to transfer from those banks portions of ed the villages of New England; and but few individuals have entirely escaped from its influence.

the common fund to places of greater security, the respective treasuries of the several States. I cannot beIn addition to this, the course pursued by some of the lieve that among those then belonging to the Senate, banks themselves has contributed to bring about the pres- who gave to this bill their support, there was a single inent state of things. The means of those institutions have dividual of the number, who would for a moment counbeen employed, not as usual, in the transaction of the tenance the idea of taxing, directly or indirectly, the peoregular business of our mercantile community, but in ple for the purpose of distributing money to the people. the shaving of notes, exchanges, and stocks. The seven I never could have yielded my assent to any such prinor eight millions of the money of the Government now ciple; and, in voting for the deposite bill, no Senator in the Bank of the United States, it may be presumed, could believe that he was thereby yielding his assent to has been in active use in that way. To these may be any such doctrine. I hold it to be subversive of the very added the great pressure now existing in the money foundation upon which rests our representative Govern. market of England, which has produced its effects here. ment. Such a principle is opposed to the best and puIn my judgment, these have been among the causes rest feelings of patriotism; to the letter, the spirit, the which have aided in producing the present state of things. genius, of our free institutions. I never could have given It is to be hoped that it will only be temporary; it is to my vote for this bill as a distribution bill. This characbe hoped that the crisis has already passed; that the good ter has been most unjustly given to this measure here sense, the high intelligence, the pure patriotism of our and elsewhere. The Senator from Mississippi is mistacommercial and mercantile community, will be able to ken if he supposes that it is so understood by the great bring to a speedy end this unexampled, this most extra-body of the people of the States. The legislative act of

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New Hampshire shows most clearly the sentiments of that State with reference to this measure. She has voted to receive her portion of the money; but the legislation of that State has most sacredly guarded the principal as rightfully belonging to the United States; that while she considers herself justly entitled to the beneficial use of her portion of the surplus, so long as it shall remain uncalled for, she holds the principal to be of right the property of the General Government. It is true that New Hampshire by her act will deposite her share of the fund among the several towns of that State for safe keeping. But the State possesses the power, by her distress warrants, to enforce collection at any time, against any town which should neglect or refuse to pay when demanded; and the pending act subjects the town to indictment, in case any part of the principal of the money therein deposited should be used for any purpose; and the court are required to impose on such a town a fine equal to the part of the principal thus appropriated, and to issue execution against any such town, to be levied and collected in the usual mode. Thus had his own State managed in relation to this matter; and gentlemen may be assured that whenever occasion shall demand that any portion of this money should be returned to the national Treasury, for the use of the General Government, that State will promptly and properly comply with such a demand.

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funds, and to preserve the public domain for the legiti mate benefit of the General Government, then we shall not fail to rejoice at their adoption.

Mr. HUBBARD having concluded his remarks, Mr. EWING, of Ohio, inquired whether he was to understand Mr. H. as including in his argument of justi fication the discrimination made in the order between citizens of different States of the Union, requiring of one class to pay gold and silver, and permitting the other to pay in the ordinary currency?

Mr. HUBBARD replied that he had not turned his attention to that point, considering it as having been sufficiently met in the able speech of the Senator from Missouri, [Mr. BENTON.]

Mr. MORRIS obtained the floor for to-morrow; and
then
The Senate went into executive business; after which,
The Senate adjourned.

WEDNESDAY, DECEMBER 28.

UNEXPENDED APPROPRIATIONS.

After disposing of the usual morning business, Mr. BENTON rose to move the printing of the document from the Treasury Department, which had been called for on his motion, and had come in a few days ago. It was a document showing the unexpended balances of appropriations which would remain in the Treasury on the 1st day of January next, the amount of each balance, the object to which it was applicable, and the date of the law by which the appropriation was made. It was the amplification and substantiation of that part of the President's message at the commence. ment of the session, in which he said that these unex pended balances were estimated at $14,636,062, exceed.

I did not consider that, when I gave my vote in favor of that bill, I was in effect making a donation to the several States. My purpose was merely to add to the places of deposite. To give to the States the use of a portion of the public money, instead of confining the use exclusively to the banks. It was not my purpose longer to leave all the public funds in the deposite banks, which were under the exclusive control of the Government. I knew full well that it was the earnest wish of the heading by $9,636,062 the amount which will be left in the of the Treasury Department to be relieved from the responsibility, the care and control of the public treasure; whatever might be said of the desire of this administration to exercise an unlimited dominion over the public purse, the Secretary of the Treasury himself was extremely solicitous to be delivered from that particular charge. In voting for this bill, I gave in no assent to the policy of a systematic distribution-nothing could have been further from my mind. The money was on hand, and no regulation of the tariff could have any effect upon the accumulation then in the Treasury; no public or private appropriations, necessarily called for, could exhaust the fund. The question was, what shall be done with it? How can it be disposed of until the same shall be required? The question was answered-wisely, judiciously, and properly answered-by the passage of the deposite bill. The question now is, what can be done to prevent any further surplus? It is an important question-it should be well considered. For one, I would desire, in some way or other, to bring down the revenue to a point below the ordinary wants of the Government. I am one of those who believe that an economical expenditure of the public money can only be attained by being absolutely required, year following year, to devise ways and means to meet current expenses. It would be far better, for the peace and prosperity of the nation, to be obliged to borrow annually, rather than be obliged to tax our ingenuity how to dispose of surpluses. Our expenditure should never be forced to absorb our means. But means should be forced to meet our expenditure.

I have said, Mr. President, all that I wish to say upon the deposite bill of the last session, and upon the man. ner of its execution. And if the effects of this measure, and of the specie circular, shall be to check the spirit of speculation which is abroad in the land, to confine trade, commercial and mercantile enterprise, within their proper limits; if the effects shall be to render secure the public

deposite banks, and which are outstanding appropria tions, to be met by reimbursements from the States, if the revenue fell short of meeting them; and that this large amount unexpended was the effect of the lateness of the period at which the appropriations had been made. This fourteen and a half millions has been called a surplus, for which the Government has no use; and it would seem that some States, acting on this idea, were for treating the deposite act as a distribution law, and using the money deposited with them, as if the Govern ment in reality had no use for it. Nothing (he said) could be more erroneous than this idea. This fourteen and a half millions were not a surplus, but appropriated money-appropriated too late to be used this year, but remaining applicable to its objects, under the act of 1795, for two full years after the year in which the appropriation was made. The document contains a de. tailed statement of each object, and in the list would be found objects belonging to every branch of the public service; and every State would find some objects near and dear to itself, and for which the State had been long soliciting. Among these objects, were the branch mints in the South and in New Orleans, the customhouses in Boston and New York, the Treasury and Patent Offices in this city, many fortifications, roads, and block-houses, west of Missouri an Arkansas, half a dozen Indian tribes, and among them the Cherokee treaty, on which alone the balance was $4,245,000. This latter was a good specimen of the whole of these delayed appropriations, and illustrated the manner practised at the last session to create an unavoidable surplus. First, the ratification of the treaty was kept off to the last possible moment, and then all possible exertions made to defeat it; then the appropriation law under the treaty was kept off to the last possible moment, and then all possible efforts made to defeat it. Finally, on the 2d day of July, the appropriation passed; and then Mr.

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John Ross, a true coadjutor of the surplus party, went home to prevent the Indians from receiving the money; and succeeded; and so saved this four millions and a quarter for distribution, as a part of that unavoidable surplus for which the States are told, and even Georgia herself is told, the Federal Government has no use! Now, there was some use for this four and a quarter millions. The United States would have to raise it otherwise, if she did not get it back from the States; for the compact with Georgia, made thirty-four years ago, and by which the United States obtained Alabama and Mississippi, will have to be carried into effect. And so of every object mentioned in the document. There were above two hundred of these objects, and money would have to be provided for carrying each of them into effect; for they were not of a nature to be abandoned; and this head of mine, (said Mr. B., putting his finger to his forehead,) this head of mine, as belonging to a member of the Finance Committee, was now occupied with this subject, and was considering how far duties could be reduced, and how far they would have to be kept up, and what tax otherwise unnecessary must be retained to supply the place of these fourteen and a half millions, if the deposite act is perverted by any of the States into a distribution law. Now, he wanted this fact carried home to the people of the States in such form that it could not be disputed. He would therefore move to have this document printed, and five copies sent to the Governor of each State, ten copies sent to each branch of the State Legislatures, and 1,000 extra copies be sup. plied to the Senate for its distribution.

(DEC. 28, 1836.

last session. He could scarcely believe that the committee reported against the bill on such grounds. With the denunciations of the President himself against the corrupting influence of a large surplus in the Treasury, and his declarations that the worst disposition that could be made of it was to let it remain in the deposite banks, be did suppose that the committee could not contemplate either result. He could not believe but that, from courtesy, the chairman would make such a report as would put the Senate in possession of the grounds on which the committee objected to the bill.

Mr. WRIGHT replied, that this was not a more distinct call than he had had on different occasions from the gentleman from South Carolina, for explanations in regard to subjects which had come under the consideration of the committee of which he (Mr. W.) was an humble member. It would save the Senate some time, if subjects were debated when they were under consideration before the Senate, and not incidentally and collaterally. For his own part, he should be willing to answer any questions, after a subject should have been before the committee, and come up for debate, in the best manner he was able. But he should not hold himself bound, at the call of any Senator, to enter upon a debate on the merits of any proposition not before the body, although it may have been reported upon by the committee. When the honorable Senator's bill should come before the Senate, then he would hold himself bound, as a member of the committee, to state the reasons which governed their acts, but not now, upon a question of printing a document that had no relation to the subject; and he hoped that he should not be considered by the Senator, and the Senate, as wanting in courtesy in not complying with the request made of him; for he had made it a rule of action to treat questions, independent in their character, at separate and distinct periods. This practice he had endeavored to carry out as far as possible, and he should do so now; and wheth er the course of the committee should be approved or disapproved, he hoped it might be decided when the bill came up, and not in an incidental manner.

dent's message and report of the Secretary of the Treas. ury, together with the course of the Senate last session, was, after a full debate, referred to the Committee on Finance, because that committee was particularly con stituted to advise on the subjects to which it related; yet that committee treated it as one of the most insignificant questions, and despatched it without a written report. This all might be very right, but it certainly was very extraordinary and unusual.

Mr. CALHOUN rose to make a very few remarks on the very extraordinary motion of the Senator from Missouri, and to ask for the yeas and nays on the question. The sending out this paper in the manner proposed would make an erroneous impression on the minds of those to whom it would be sent, and would be an unusual departure from the ordinary practice of the Senate. Did not every Senator know that there was a large amount left in the Treasury, say five millions of dollars, by the deposite law of the last session, for the purpose of meeting these balances? Did not every Senator know Mr. CALHOUN said, that although he very much rethat, by the report of the Secretary of the Treasury, gretted that they were not to have a detailed report, yet there were three millions of dollars of these appropria. he must be permitted to say that he thought the course tions that would not be wanted, and were therefore of the committee a very unusual one. A bill of acknowl. transferred to the surplus fund in pursuance of a stand-edged importance, if he might judge from the Presi ing law? And was there not, besides, a large sum in the hands of the disbursing officers of the Government? He knew (Mr. C. said) that every exertion would be made in order to defeat the deposite bill at this session. He knew well that the battle was yet to be fought-a battle in which the people would be on one side, and the office-holders and office-seekers on the other. While up, he would refer to the Committee on Finance, and make one remark in reference to the report of that committee on the bill introduced by him a few days since, and, much against his wishes, referred to them. They had reported against the bill, and it was not strange that they should do so, because a majority of that committee were three out of the six who voted against the deposite bill at the last session. But what he complained of was, that they had reported it without one single word of explanation; the chairman simply saying that he was instructed by the committee to move for its indefinite postponement. He would now ask the chairman on what grounds he had reported against this bill? Was it because the committee were satisfied that there would not be a surplus? If so, (said Mr. C.,) let us know it. I shall be glad to hear that such was their reason, because it is a debatable proposition. Was it because they would not have the surplus deposited with the States? If this was the case, it was directly contrary to the known sense of that body, expressed almost unanimously at the

He had been there several years, both as presiding officer and as a member of the body, and he must say that this was the first time he had ever known a question to be put to the chairman of a committee, which he refused to answer. As a representative of one of the States of this Union, he must say that he had a right to an answer. The bill had gone to the committee, had received its disapprobation, and the committee ought to let them know the grounds on which they objected to it. If there was no surplus, let us (said Mr. C.) hear the committee say so. If there was one, then, said he, let us hear what objections the committee have to depos iting it with the States. He made no complaints, but he must say that the course of the committee was very extraordinary.

Mr. HUBBARD remarked that he was at all times in favor of giving to the people all the information which could be communicated to them, either through their

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Governors or the Legislatures of the several States, in relation to every subject connected with the legislation of Congress; and he was the last man who would withhold information from his constituents, which could, by any possibility, give them any light upon the acts of their representatives.

He would request the Secretary of the Senate to read the resolution offered by the Senator from Missouri. After it was read, Mr. H. remarked that the resolution was as he supposed; and he was entirely at a loss to know what was the particular object of his friend from Missouri, in that part of his resolution which required that five copies of the document referred to should be sent to the Governors, and that twenty copies of the same document should be sent to the Legislatures, of the several States. From the remarks of the Senator from Missouri, it seemed to him that this document was in some way or other to have some effect upon the deposite bill of the last session; but he could not see in what way the communication of these documents to the Legislatures could have any effect whatever upon their action on that bill. Congress has passed that bill; it was to take effect within a very few days-on the 1st day of January next. The money then in the Treasury was to be set apart, and to be taken, under the direction of the Secretary of the Treasury, from the deposite banks, and transferred to the State treasuries for deposite and for safe keeping, in pursuance of the particular provisions of the bill itself.

The printing of the document may be useful to the Senate; it may be important to them, for their information and guidance with reference to the bill presented by the Senator from South Carolina, to continue in force the deposite bill. But it could not be of any practical benefit to the Legislatures of the States, in relation to the bill of the last session. Whether wisely or not, Congress had passed that bill, and the States were soon to receive the benefit of it; and he would suggest to the Senator the propriety of so amending his resolutions as to confine the printing for the use of the Senate, and not to require that printed copies of this document should be sent to the Governors and Legislatures of the several States. With a knowledge of what probably would be in the Treasury on the 1st day of January, as the unexpended balances of former appropriations are very great, and a decided majority of the Senate gave their votes in favor of the deposite bill of the last session, it certainly would not be difficult to show that this document fails to give correct information. The gentleman from Missouri, he presumed, could not desire to have this document communicated to the State Legislatures, unless he believed it would impart useful information to them. And, for one, he could not but believe that it was calculated to make an erroneous impression upon the public mind; to misguide and to mislead the action of those Legislatures in relation to that bill. Without saying more at this time, he did hope that the Senator from Missouri would amend his motion as had been suggested.

Mr. BENTON asked the Secretary to read the caption of the document. The Secretary read it; and Mr. B., inviting the attention of the Senate to the words of the caption, and that the 1st day of January next was the time to which the unexpended balances were computed, pointed out that this was exclusive of sums which might be in the hands of disbursing officers, and which, though still charged to them, might be all expended, and would be by the end of the quarter. The sums in the hands of disbursing officers was no fund to meet these fourteen and a half millions, but were intended to be expended by the last day of the present quarter. The five millions left in the Treasury will be a fund, as far as it goes, to meet the fourteen and a half millions; but nine and a half millions will still remain to be reimbursed by the

[SENATE.

States, or to be levied by taxes off the people. The objects are not of a nature to be dispensed with, and the money to complete them must be got somewhere. This is material information to give to the States, and to give to them now, while their Legislatures are occupied with the question of our deposite act, and some for treating it as a deposite, and some as a distribution. With this document before them, no State can treat it as a distribution; no one can look upon the deposite as money for which the Government has no use; but every one will see that there is indispensable need for it; and by looking at the date of each appropriation, they will see that this unavoidable surplus was forcibly created by keeping off appropriations until it was too late to expend them. Every body knew that the struggle of the last session was to keep off appropriations, and that the organization of committees gave the opposition the power to keep them off. In this way, the unavoidable surplus was violently and forcibly produced. Several millions were defeated altogether: namely, the anticipation of the foreign indemnities, by which the United States would have bought four millions of gold, bearing an interest of 4 and 5 per cent.; the army inrcease bill was defeated; the new fortification bill defeated; the New Orleans customhouse; the bill for the purchase of the Louisville and Portland canal; and others, to the amount of six or seven millions. From the beginning to the end of the session, he stood upon the ground that, if the proper appropriations were made, and made in time to be used, there would be no more surplus than had often been in the Bank of the United States, without exciting the least alarm in the bosoms of those who could now see nothing but corruption, danger, and ruin, from the like sums in the ninety different banks which now hold the public deposites. The United States Bank often held fourteen, sixteen, or eighteen millions of public money, and not a word is said about corruption; not more than that amount would have remained in all the deposite banks, if the necessary appropriations had been made, and made in time to be used. He wished this document to go to the people of the States, that they might see these facts. He knew it was somewhat ungracious to ask this Senate, so many of whom had voted for the deposite act, to furnish this evidence of the error under which they legis lated; but certain it is, that many of them voted for it as a deposite law, in fact as well as in name, and not as a distribution law, under a false title, in derision of the constitution. Such Senators should have no objection to sending this document to the State Legislatures, to let them see the objects for which a reimbursement of this money must be made, or unnecessary taxes kept up to supply its abstraction. But of one thing be was certain, whether the Senate sent the document to the States or not, it would go to the States. After this attempt to suppress it, all must desire to see it.

Mr. CALHOUN remarked that he found the information which the gentleman from Missouri was so anx. ious to give the country was already before the Senate in a very authentic form. It was to be found in the table of estimates accompanying the report of the Secretary of the Treasury. He argued that, according to the assertion of the Secretary of the Treasury, who estimated the unexpended balances of appropriation at $14,636,062, the sum of $3,013,389 would not be wanted. The Senator, therefore, in sending out a document, setting forth that $14,500,000 were required for outstanding appropriations, would mislead the public, and make a false impression. Mr. C. contended that, taking the five millions which must be left in the Treasury, on account of the deposite act, from the eleven and odd remaining of the fourteen millions, together with the money at present in the hands of the disbursing officers, there would be funds enough on hand, within a small

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