The Federal strong box.
--In the Federal Senate
on the 5th Mr. Carlile
, of Virginia
, moved to postpone all prior orders, and take up the resolution, submitted by himself on the 13th of January, relative to the finance of the country, which was agreed to. The resolution proposes a tax equal to the interest upon $200,000,000 at 7 per cent., and upon $800,000,000 at 8 per cent., the former redesmable in ten years and the latter in thirty years, appropriating the proceeds of all public lands therefor, and providing a fiscal agency in New York, with a specie basic of fifty millions, authorized to issue notes of not less than five dollars, to the amont of $200,000,000, on the deposit of Government bonds as above by the Secreatery of the Treasury.
C. said that he had thought that some comprehensive scheme of finance would have been sent to Congress in December from the Treasury Department.
But such had not been the case, and the Government
was proceeding along under immen's expendintures without proper provision.
He gave statistics from the Department, showing the expenditures monthly to have been, for October, November, and December, from $45,000,000 up to $56,500,000, and now the Treasury is empty.
How shall it be replenished and the country saved from an irredeemable paper issue, which he was not willing to approve under the plea of a pressing necessity?