wAsH1xcTox, Dec. 2s. ls4O.
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UNITED STATES SENATE.

 Ndr0l Nerpice.-Mr. Thomas of Maryland, Chairman of the Committee on Naval At- fairs, moved that the House go into Commit tee of the Whole on the State of the Union, for the purpose of considering the bill ma king appropriations for the Naval Pension Service for the year l64l.

 The bill at once created discussion-not in opposition to the merits of the bill, for no one opposed it, but discussion in reference to the manner of disposing of the Fund in times past. MT. Adams spoke at some length flor an hour and more-in exposition of the practices of the Government, in reference to the Naval Pension Fund. The speech crea- ted quite a sensation tn the House. Mr. Ad- ans gave succinctly history of the general acts of Congress in relation to the trust fund, and the violation of those acts.

 In the course of his speech he commented with great freedom upon the remarks of the President and Secretary of the Treasury put forth in the annual Message and Report touching National Debt and State Stocks He showed that the Administration had ad- vanced in reference to this as to other mat ters one set of opinions, and put in practice a policy totally unlike that proposed. It had created directly Debt, and done more by the assumption of State Debts. The General Government it was well known was bound 10 pay several heavy debts which were due for various objects. Funds were invested in Stocks on account of Indian An nuities and on acconnt eff the Smithsonian bequest. The Government was liable as tho trustee party for the payment of the full sum invested in stocks-liable for all losses, and far all diminutions in value.

 Proving this, MT. Adams proceeded to show how the President had invested Gov ernment Funds. The amounts for Indian Annuities had been invested in State Stocks, which were purchased as high as a premium of 6 per cent, and Sold for 26 per cent. un- der their par value, and at a loss to the Gov ernment of Al per cent. upon the purchase The entire Smithsonian funds had been ili- vested in State Stocks, aud in the Stock ot the State of Arkansas. --,.-

 A half million of dollars, the amount of tho Smithsonian bequest, had been invested in the Arkansas Bonds-5 of 100000 being in the possession of the General Government. The "British Gold" had been but three days in the mint, before it was in sOvereigns marched off to Arkansas and made bank ges upon British gOld," much to the amuse- ment of the members, all those EaiS& drops British Sovereigns, by an act of Congress, in a provision smuggled into Bill referring to the West Point Academy, were sent to Ar kansas and naadea Bank of.

 The friends of tho President, said MT. A., have told us that British gold had it's effect and influence upon our elections. It may be so. We know that the British gold, to the amount of more than half a million of dollars, went from the Mint to Arkansas at the order of the President. We know nlso that the State of Arkansas gave its electoral vote for the present incumbent. .-

 Mir. Adams atso called the attention of tho House to the important fnct that the Prcsi- dent and Secretary of the Treasury, in the Message and Report, had recommended as late as the 7lh instant, that no appropriations should be made except those included in the estimates. In contrast with this opinion he said that in report from the Treasury De- pertinent, hearing an earlier date-the lSt inst.-the Seccetary had said that $l5OOOO ought to be appropriated for the Naval Pen sion service, and yet no mentiO0 vas made of this sum in the estimates.

 Mir. Adams also showed that thc President had recommended in JlRse last the Gpprcpri. atioH of $S5O,OOO for this service. Congress did not attend to the recommendation, and yet the President, in these and other matters, congratulated himself upon the di- unfinished expenditures of the government for tho year past. Had the recommendation of the Executive been complied with, much more would have been expended than was expended.

 The bill, after MT. Adams had concluded. was taken fromthe Committee of the Whole. In the House it was discussed by Messrs. Thomas, of Md, Wise, of Va, Reed, of Mass, Anderson, of Me-, Sheppard, of NC, Monroe, of N. Y., and others. s.l.s .s....

 The previous question in the end was moved, and the discussion cut short. y

 The final passage of the bill immediately followed. and with the unimportant amend ment which rcpcals the Naval Pension Act of March Sd, 1889. the amendment was

 WASHINGTON, Jan. ?, l64l.

 Presidents Leree, dc.-The skies about us are bright to-day, but under foot there is snow enough to make tolerably good sleigh ing. Everything, therefore, in the form of a sled or sleigh is in motion. A severe North Eastern storm, with hail and snow, com- mcnced at the very hour the New Year com. menced, and continued without interruption for some eighteen hours.

 The PRESIDENTS LEvEE was we'll attended, notwithstanding the storm. The East Room, Green Room, Reception Room and ante Rooms were all thronged for two or three hours. The scene presented, however, was but play forty times repeated, there being nothing of particular interest in the Levee except that it was the last to be given by the present President of the United States. Mr. Van Buren played his part with singular gravity and dignity. wearing even his won't ed. though everlasting smirk and smile in the welcome he gave his visitan:s. There was an assumed virtue in all this, apparent to all who know Mr. Van Buren, for ale