The recorder, or, Lady's and gentleman's miscellany. [volume] (Richmond, Va.) 1801-1802, 1802-06-09

tliSaH freeooni, the hgn poit which
points to che brothel of an elective bur
deiponc monarchy; for it fignifies no.
thing 10 Prartle about federal indepen-
deencc, when PRECEDENT, and two thirds
OF quorum OF the fenare, may Jump in
TO your pocket exactly as far as they
Pleaie.e
Beiides rhe feventy two thouiand dol
| lars per annum, and the two hundred and
eighty thouiand dollars of penalty, the
! Dey has received from rhe United
States another, and very comfortable
dliburiement, In confequence Of Donald
IONS treaty, A large fun of money
was TO be paid down TO him, and it was
the delay of making this payment that
Porduced the building OF the Crefcent.
20 the face Of the treaty, there appears
no mention offuch fun. Government
was undoubtedly ATTAINED of il; and
Id nor with the itory 70 be itaring in
che itarute book. This humble article
has not been able TO conceal the fact. /
mail now give the particulars, as far as
they car be traced.
On March 2oth, r7o4, law paiTed
authorizing Che PRECEDENT to borrow one
| milton of dollars, at an interei not cx-
cecdtng fUe per cent. e TO be applied
& to iuch public purpofes as are ant5o
"'!tea ~ la10." The bank Of the Unit
ed States Is, byt fame act, authorized
10 lend the money to the Prelidenr.
/ las act bears, III IT'S very hrit bluih,
the lisnals Of hypocriiy. It is well
known thar no money can be borrowed
| at T7's per cent. and much lefs a million
Of dollars. But Coagrels knew that
e1eg sefe going 80 do fomcthing which
was Hff'e S90lJe fbaa ordinary /, and
this blind was held out with view GO
| dlVert rhe a1tention Of their conftiruents
| from the real fact, and TO excite adnira-
ton, 70 be fure, at their wonderful eco
nony
The wording OF this act is curious in
another etpe6t, in as much as it does
aot tell what was going 70 be done with
| che cath. Eight hundred thoniand dol
lars OH were TO be employed in chis IN
teFnal negociation with the dey OF Al
| glers. The other two hundred thou.
land dollars went for other expences O
intercour!e with foreign nations. Or
February isth, i797, Mr.. Wolcot
gave itatement to Congreis of VIVA
was become Of thefe two hundred t4ou
land dollars. This document fill
eighteen pages. It is extremely inte
reiting butwe mutt, at this time, attens
che eight hundred thouland dollars, II
their perilous pilgrimage from Philadcl
Phia to Algiers.
/ What follows has been partly copiec
from the Aurora, of March goth, 1907
and it mutt be obferved thar although
I government has IN holt of writers IN
confanE employment, this narrative
was never conuadi9ed. indeed the
principal features oft arc inconfefibly
!, true and from the mott respectable
/ private Information, I am iatisfed OF
I the fiIct accuracy Of the Whole circurn-
ftances which are now to be related.
Thefc eight hundred thouland dollars
were TO be borrowed from the bank
which had not the hard monevt 20 it(elf
But this company holds great mas OF
national flock, and agreed to lend it TO
government at par. In other words. the
bank held the bill Of government for
twenty Killings bur this bill would nor
fell il The market for more than feyen-
teen thllilngs, or whereabouts. Govern
tnent coniented, however, to accept OF
II back again, as worth twenty lhilHncs;
and TO give iecond obligation for he
million Of dollars. Ibis awkward prac-
tice OF ticking back its own bills, and