Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1837-11-04

7xe Era of RcsrencAmeae, Economy, asd Re
FORM to bring about which the Administration Of
John Q. Adams oyerthrown, may now be con-
sidcrea, presume, 1t ITS pinnacle OF glory.
since by the various arts and processes Of those
who are carry ing it through, the Treasury itself
has been 50 reformed, that from dangerous pieta
ora it is reduced to a state OF entire cfrophy; in
plain terms, from overlooking abundance TO bank
ruptcy.
1t is little curious TO enquire how, within less
than ycar,-a little year,-this extraordinary
result has been brought about.
There was, according TO the report Of the Sec
rotary OF the Treasury, made TO Congress last
month, sum of ST, $40, 1877 in tho Treasury on
the lst Of January last-ovcr and above the sum
Of 49,. ASS, $50 surplus, which was ordered to be
deposited in four separate insfalments with the
States O: this las, sum $685. PA, constitu-
TING the fourth instalmcnt, has not been, and Is
not noe TO be deposited that adding that 70 the
balance on hand on the LIST OF Janury. We have
Sl6.O37 ISL, against the current years expenses,
without looking at all to the current revenue.
But the actual receipts for the first six months OF
this wear have been 81 3,lS7, Isl, and the lowest
estimate for the last six months, after allowing
for the disbursement Of the merchants bonds ti.1
next wear, is ii 100000; making an aggregate Of
about tsirty-ssrec millions and half Of doltars
for the resources of an economical, reforming ana
retrenchino administration of one year!
Mr.. Adams administration, which so much star
lied the nerves and patriotism Of those who now
have charge Of the Government, amounted 10
Sl3.2o6, Oil-less than tsrce-eighfs!! of the rev.
enue and resources Of this year. What then Will
our readers saw, when told that this enormous
revenue-swelled bv the nine millions of the
fourth instalment, which, according to law and
contract should have been deposited with the
States-will fall more than q million! short OF the
expenditures!
i Yet such is the fact.
The Treasury Report, already referred TO-,
make. the expenditures of the first half year
GIG 733 SS4 and estimates those Of the remain
inp half at l6OOO,OO But to this estimate arc
TO be added 81 10000 just voted for the Fiori-
da war--and $780, 900 for the presen: session Of
Concress--and we shall then have sum OF t1ir-
ty-four millions eight hundred and t'irty-taree
thousand dollars, as the total expenditure OF tins
year.
! Some of the items in this enormous expc.idi-
turc are of a most startling nature: for instance
those Of the War Department, including pen
sious amount to ten millions sir hundred ftOusdnd
dollars for six mouths--and I'LL at the same rate
70. the next six months, and with tho addition os
the Sl 900 900 now voted for Fiorida-rcach to
trenfy-tro millions eight hundred thousand dol
lars!! This for the military expenditures alone
of the country for ono year, IN a period OF gen.
cral peace-save only the contemplate contest
in a corner of our territory, with some I%OO saw
aUcSs we nave mol now at H1tlu tuC usC"stS u
verifying the fact, but we have strong pcrsua-
sion that in no one year Of the last war with
Great Britain. when we were contcnfing against
that mighty nation, was the expenditure of the
war department large as this.
i But with all the enormous resources above DC
tailed, this economical administration, - unable
to meet its engagements without calling on s-.'n-
gross authorize the beginning at n new public
debt. 1t was among the boasts OF Gen. Jackson's
friends that during his administration, the nation
al debt, contracted in tho war OF Inte"endencc,
and in the second war Of 1912, was finally ex-
tenguished.
II will be the opprobium Of President Van Bu-
rcp. that in the first year Of his administration
the foundation is be laid, Mt his suggestion, OF
new national debt. Ten millions Of dollars arc to
be raised by the sale Of Treasury notes-and
Treasury notes, every one conversant with
such matters knows, arc just rs much evidences
Of debit part Of the Government, as certificates
of stock There is, indeed, this difference against
thcm-that in the case OF loans ON stocks, spc-
cited funds of.cn dcs ignatcd and set apart,
for the resumption Of tho Stock whereas, Treas
urv notes have specific pledge, and no certain
period Of redemption. Indeed, proposed to be
issued by the president and his Treasury Sccre-
/ tarv, in sums Of $50 and upwards, with interest
without anv me ans pledged Tor their rcdemp-
ton, and without any option on the part OF the
holders Of funding them at any given period, and
at some stated rate Of Interestingly would be no
thing moro nor less than sold continentai.'
This, then, the sequel Of treading in the foot
stcps-that within the first year, this spccie-pay-
ing administration in name and profession, - re-
ouired to commend the issue Of "Oid Cuntinen-
ta'.- and that a party brought into the power un-
der the pretext Of economy and reform, has
spent as much in one year, Mr.. Adan's's ad-
ministration, whose extravaganza they were to
correct, spent in three years.
Will the people, seeing these things, still be-
lievc in such party? We think not-lN. I.
American.
From the National Inteiigcnaey.
INDIAN TREATIES.
c.nz ,c Hhs 1,1sa