Vandalia Whig and Illinois intelligencer. [volume] (Vandalia, Ill.) 1832-183?, 1833-05-29
THE pRoTEsTENDRAFT.


In order to couiteract the Misrepresentation
which mischievous persons are making on the
subject of the non-payment by the French Go
vernment of the bill drawn for the first install
inent payable under the late Convention be-
tween the United States and France, it may
not be improper to state the facts.
The act of the 18th of July, 1882, having
made it the duty of the Secretary of the Trea-
sury to cause the several instalments, with the
interest thereon, payable to the United States
in virtue of the convention with France, to be
received from the French Government and
transferred to the United States in such mans
ner as he may deem best and the nett proceeds
thereof paid into the Treasury, it was determi-
ned, after having obtained all the information
necessary to q decision, to accomplish these OBJ
Jects by drawing on the French government,
and dispnsing Of the bill on the best terms that
could be obtained for cash. This course was
deemed most advantageous to the interest of
the claimants, as it would save the expense Of
commission which would otherwise have to be
paid out of the fund, and as it would be free
from all the risks of intermediate agencies.
For this purpose offers were invited and many
made The highest price for the bill however
was offered by the Bank of the United States,
being 81 for ST. 37A confines. A bill was ac-
cordingly drawn by the Secretary of the Trea-
sury upon the French Minister of Finance in
favour of the Bank of the United States, and
{ the proceeds, being S903, 565,S9, We're at the
same time placed to the credit of the Treasurer
on the books of the Bank. By TIE Convention,
the amount of the instalment was payable at
Paris on the I'd of February last; and as the
bill was not drawn until the 7th of February,
after the instalment was due, it was made paw,
able at sight.
4 1t is understood, however, that when the bill
was received at Paris, no appropriation had
been made by the Chambers for the payment
of the lnstalment, and it is bIeved to be owing
altogether to that circumstance that the bill
was not paid on presentation. The French
Government it is not doubted will promptly adj
nit the right of the United States to be indem~
niied lor any loss sustained by the -pay+
= lment.
Though notice has been given to the Trea>
Fl sury by the Bank that the bill has been pros
tested tor non-payment, it is not understood that
iii has yet been returned to the United States.
The rumeur OF its having been paid by Messrs.
Horlenguer and Co, is, probably true, but it
paid by them, whether it has been for the ac-
! commodaticn of the Bank, or at the instance Of
INV iOhSi uAihlStCl Vi tHdt vi inc american
Charge d'Affairs at Paris, is yet to appear.
t 1t will be recollecled that at the last session
: Congress authorized the Secretary of the Trea-
I sury to lend these nstalments on interest, upon
pledge of the stock of the United States, or Of
S he Bank of the United States, or to the Bank
} Of the United States. The Secretary accord
s. ingly invited proposals for borrowing the pro-
cecds OF the fl It nstalment, either by the Bank
Itself, or by others, on the pledge of its stock
E at par, it not being deemed advisable to invite
an offer on the pledge Of the United States
stock, as that would Withdraw it from the mar,
, ket, and thus place it beyond the reach of pur>
chase by the commissioners of the sinking
fnnd.-lt is understood that proposals were res
: celved for part only of the proceeds: and in
: consequence OF an objection beng made by q
highly respectable part Of the claimants to the
money being lent on such security, no decision
!, had been finally made, and the amount Of the
proceeds of the bill has therefore remained IN
' the Bank until this day.--Globc,
DIR. FRANKLIN-ln lecture recently de-
> llvered in Philadelphia, Mr.. Rush made the
e following allusion to DIR. Franklin:
n "Archmedes, in his glory, boosted if he had
!, spot on which to place fuIcrum, he couid
: move the earth. But, gentlemen, the earth was
never moved by Archlmedcs. This spot exist
ed only In imagination---it was fiction; but
dream-interpreting what might be the fur
= ture power of Knowledge over nature Now
!, let me bring you from ancient fiction to modern
fact. What has made Frankln's name i'm,
mortal? Why is America proud to own him
as one OF her noblest sons? Why stands his
name enrolled upon her imperishabe charter
r OF rights, and upon her tablets of science?
5 Why Is this memory revered at home, and hon
D ored abroad2 See in yonder church yard the
E envied path which strangers tread, that leads
b., to this modest tomb. What takes him there?
For
"No sad tear upon his grave is shed,
That common tribute of the common dead;
But there, the wlse, the generous apd the braue.
With God-ike envy, sigh for such grave.'
What We're his original claims to distinction?
: Was he clothed in the robes of riches or au-
thority? Did the busy breath of popularity
e blow him, like some of its paper puppets. into
worldly notice? No. In early life he was poor