Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1813-04-08

raj cash may moulder IN their vaults, &
| their bank notes lie slowed away among
other useless rubbish-for they cannot
now employ them-but the loan will be
filled; the government viii have money
in plenty to carry ON its operations-and,
It will be a satisfaction to us at least To
know, that they we're not indebted to i.s~
sex federalists or Federal Republicans for
it. but to very different class of men.
FROM TIE BOSTON, CHRONICLE.
.4n address TO honest citizens /; or cogent re-
Elections on the LOAN.
There is such a similarity in the conduct
of those who took an advantage of the debt
contracted for the support of our revolution,
and the present federal money holders, that
1t ought to put every man who is in favor
OF the Administrations on reflection. Many
OF the men who now enjoy the advantages
OF the debt contracted during our revo luton,
are those who deprecated the old soldiers
notes-who combined to represent tie Uni
ted States as bankrupts-who ridiculed e.
very holder of continental securities as the
victim ofnational fraud who turned as alb
horrent from every old soldier, while offer
ing his note at public market as if he was a
swindlcr. These men have the same Object
now in view as they then had. BY thus
nation, they reduced the public securities
TO Is. Cd. i'll the pound. They brought them
to the nearest point of annihilaticn, and
then pretended to show their patriotism by
giving the war-worn soldier the small pit
lance of an eighth part of their real value.
When they lad thus nonopolizcd this debt
into the hands Of q Junto, they then united
in calling upon government to fulfil their en
gagements; and in a few years the notes
bought by few monied individuals were at
public market at 20s. i'll the pound, with
quarterly interest attached to them. The
interest due on them was of more value
than they gave for the principal. The mo
MED federal party are now playing the same
ungenerous trick. They are depreciating
the present loans, expecting to gain SINH
lar advantage they did on the former. But
common sense must dictate, that if the Uni
ted States were equal at that time to res
tore their notes from Is. Cd. to Dos. that
they can keep them in future at their pre-
sent real value. Let the republicans there
fore be aware of a junto, who have acuui-
red their property by former act of de
probation, and not suffer themselves to fall
pfey to similar system now COntempla-
ted for, the same,base purposes. That the
funds viii be maintained at their real value
cannot be doubted. We have only to de-
per cent. as 1t is unreasonable that those
who have refrained from the first loan
should DC offered an advantage above those
WIN Came forward on the first proposal
he great misfortune is, that the Republi-
cans appear to be coaxing the Fcdcralists
this policy is fallacious. If 10 per cent. ili-
terest had been allowed, not federalist
would have subscribed cent. The larger
the bonus offered, the more the loan is de-
precated. Like a merchant, who, after
attempting to borrow money at 6 per cent.
IT he cannot obtain it, gives Ibis credit
would Immediately suffer, and his former
creditors would become suspicious OF his
responsibility. We doubt not if instead Off
per cent. only per cent. had been offered,
the loan would have been much greater
than at present. The public stocks Of the
u. States are much higher than any stocks
In England, and yet the federalists are bring
ing into view the eXpences of tile American
war, as being carried on to much greater
loss than by the British. Their hard money
is exhausted-while the United States a
bound with specie and bullion in a larger
proportion to their population and exigen-
cies than any nation in Europe.
This attempt therefore to depreciate the
public stocks on pretcnce that resources are
not within the power of government to Sc
cure the creditors, is just as fallacious as a
other federal projects to stop the energies
OF the administration. In these attempts
however to depreciate the stocks, certain
individuals are cautious not to bring their
own private property into market, but RAJ
ther use the funds of certain corporations as
the instrument of their designs Has not
large amount of stocks lately been sold at a
discount, under the direction of individuals
IN their corporate capacity, who would not
have parted with one dollar of their own
property at the same rate The constant
publications in the federal papers tending to
destroy the confidence Of the citizens in the
resources OF government tue exultation Oh
the idea that loans cannot be obtained the
daily urging of the monied interest not to
assist in any pecuniary propositions, or to
aid eitherin supplying the army or augment
ing the navy; the IRRESPONSIBLE suggestions
that the British have more powerful friends
residing in the United States, than the go
yernment can produce are not eli thesc
things evidently calculated 10 encourage tie
English in prosecuting the war, and arc
they not the principal causes Of our harbors
being blCcbaded, and of our frontiers being
desoiatedi The British ministry receive all
their expectations OF success from the fed
eralists. The British parliament does not
furnish such advocates in their behalfas the
American Congress There Is not paper
printed in England that contains such gross
caiumny against the government, as within
the United States. The Exchange Of Lon
don, Liverpool or Bristol, are more free
Il ON personal inveetives against the Anne
rican Congress, than the Exchange Of Bos-
ton. The fact is, the British ministry de
pend wholly tor success on their friends re
siding among us. The war would not con-
finme sig nnnnths iffhe Rrifish ,vera- NOT hnnN