_Naval Establishment._
Mr. RANDOLPH, from the committee to whom was referred the resolution
respecting the reduction of the Naval Establishment, reported the
following bill; which was twice read, and referred to a Committee of
the Whole:
[Here follows the Bill.]
MONDAY, April 23.
_Loan Bill._
The House resolved itself into a Committee of the Whole, on the bill
authorizing a loan for a sum of money not exceeding the amount of the
principal of the public debt reimbursable during the year 1810.
[In the discussion which took place on this bill, there was no
objection to the principle of it. Every gentleman who spoke assented
to the propriety of placing at the disposal of the Government a sum of
money fully adequate to meet the appropriations authorized by law for
the present year.]
Mr. DANA wished to ascertain the precise amount of the principal of the
debt reimbursable during the year 1810, with a view to inserting the
sum in the body of the bill.
Some difference of opinion appeared to exist as to the exact amount
of principal reimbursable. The sum annually applicable to the payment
of the public debt is eight millions of dollars. The sum left, after
paying the interest of it for the year, is annually applicable to the
extinguishment of the principal. The exact amount of interest payable
on the public debt during this year not being known, there was a
difficulty in ascertaining the exact amount of principal reimbursable.
The sum of $4,800,000 was mentioned.
Mr. DANA moved to amend the bill so as to authorize a loan "not
exceeding $4,800,000, being the amount of the principal reimbursable,"
&c. This motion was supported by the mover, and Messrs. GOLD, SHEFFEY,
QUINCY, UPHAM, TALLMADGE, and PICKMAN, and opposed by Messrs. BACON, W.
ALSTON, and MONTGOMERY.
The arguments in favor of the motion were, generally, that it was
improper to attempt to disguise any thing by giving to it a specious
name; that borrowing money should not be called paying the public debt;
that all authority given to borrow money should be express and specific
as to the sum. It was said in reply, that there could be no objection
that the truth should appear on the face of a bill; that this sum not
being wanted to defray the ordinary expenses of the Government, but to
pay debts heretofore contracted, the phraseology was perfectly correct;
that it was as specific in fact as if expressed in so many figures.
Mr. DANA varied his motion, after debate, on account of the uncertainty
which appeared to exist as to the sum reimbursable, and of course as
to the sum to be loaned. He moved to amend the bill so as to give
authority to borrow a sum of money "not exceeding four millions of
dollars."
This motion was supported and opposed by the same gentlemen who
debated the former motion. In support of the motion it was said, that
this sum was all that the Secretary of the Treasury had asked for,
and was therefore as much as ought to be given. The advocates of the
amendment also said that they were averse to legislating blindfold, to
voting millions without knowing for what, or to surrendering up their
judgments to Executive discretion, under an idea that the President
would not borrow more than was necessary.
In reply it was said, that since the Secretary of the Treasury had
made the estimate in question, other expenses had been incurred; that
it was impossible to tell the precise amount which was wanted until
Congress should adjourn, as it was impossible to tell on one day what
appropriations they would make the next day; that, if not necessary,
the authority to borrow would not be used; as in the case of the
loan authorized at the last session of Congress, not a cent of which
had been actually borrowed. That law had granted an authority nearly
similar to this in nearly the same language.
Mr. DANA'S motion was negatived--52 to 29.
Mr. QUINCY observed that he felt but one difficulty on this subject. He
could not agree to borrow an amount greater than the Secretary of the
Treasury had said was necessary. He, therefore, moved to amend the bill
by adding to it the following proviso:
"_Provided_, That nothing in this act contained shall be
construed to authorize any sum to be borrowed greater than four
millions of dollars."
The motion was lost--ayes 28.
The bill was then ordered to be engrossed, and read the third time
to-morrow.
TUESDAY, April 24.
_Reduction of the Navy._
The House in Committee of the Whole on the bill to reduce the Naval
Establishment of the United States.