Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-09-02
MORNING III IL II A LID.
SATURDAY. SEPTEMBER =, 1897.
From WashingtO

From WashingtOn.
We are again rich in correspondence from Wash
ington. Two more letters, received by the express
mail last evening, throw a brilliant light upon inc
movements in the capitol.
The intense interest created throughout the city oy
our publication Yesterday, only be equailed Dy
that which will be produced today The packets that
sailed Yesterday to London, Liverpool, and Havre'
carried ont the Herald, in hundreds, that contained
the SYNOPSIS of the forthcoming message Every one
is now nquring for the Herald.
aHave you seen the HeraldT
"What has il from Washington
aWhat do the correspondents Of the Herald say
Our circulation is further rapidly increasing, be-
yond all former precedent under the new "experl-
ment." In week, we have nearly added one
thousand additional copies to our edition
Ths administration means to force debate ON the
Distribution Lam. On the repeal of this ridiculous
law, is based any relief to the mercantile interests
In the Senate the government have majority, and
against its repeal.
On this motion for repeal will probably come
I'D the merits of the whole question of currency,
banks, and relief to the merchants. We must say
that things look gloomy for the merchants. Agreater
conflict may be expected in congress than ever yet
took place since the revolution.
We expect highly interesting information relative to
the message by the express mail tonight
(From our Correspondent RotAscAld-No.al
WAsHlNGroN, Aug. 81, PIP. Nj.
The Distribution Law have always looked upon
M device of the opposition for the eectual pros
traton Of the administration. BY appealing to the
interests of the states the party vote on this question
was entirely neutraized. 1t was certainly master
stroke of policy the part Of the trainers OF that
bill The President was forced into the signatu of
il through fear of losing the affection of his sup
porters.
The veto of it wsuld have placed him in a dilemma
in which he was bound to act--a dilemma in which,
had he taken the opposite course, the charges OF his
enemies would have had some show of truth, and
his own friends would have been forced TO admit that
he sought to retain the control Of the immediate re-
venue then proposed TO be distributed. Policy then,
required his approval Of this "avarice exciting
BILL
However praiseworthy was the act that placed in
the Gust ody of the states such amount of treasure,
il came too late The public monies had been depo-
sted with the pet banks and they had extended loans
TO the CO immunity on the faith of these depOsites--
True policy did not demand the pas sage OF distrbu-
ton law, for the money was already distributed This
consideration had no effect upon the movers of it
Their intent was to make it a means of bringing into
odMm the deposte bank system, and through this to
reach the government which had set il in notion
Two ins,alments of the forty millions thus collected
were paid the states with great difficulty The &C
ton Of the aw had been predicted in Congress by It's
opposers, and il was found in every instance tosgree
with the prediction
II il useless here TO 60 over the spirit OF avarce
that this law excited in the different legislatures Su
fee 10 say that the greatest evil has ensued Tho
the law templated the distribution in the shape of
loan, to be called for when required yet the States
dregaded this express proviso, and legisated on the
monies they each were to receive as a positive and
unconditional donation Can any stronger argument
be brought against the policy Of law that will beget
in those for whose favor il is passed. spirit inica
and actually violative Of its chief provisions?
The deranged condition Of the currency, and the
spir Of overtrading were hostile TO the distribution
from the principal commercial Cities of ten millions
every three months, if there had been other OBJ
s,rsctions Ii is, and has been pleaded by the ad
ministraon, that the United States Bank failed in
furnishing an equal currency, and in placing the pub
lie monies without charge, at every required point Of
disbursement. II this Institution and ndivsbe,
could not perform these important functions, how
were they TO be done by separate and distinct State
Banksa The opposition knew the latter could not
carry the law INTO effect without great loss and in
deed they hoped without running themselves. And
has il not SO turned QUIT Was moi already de-
ranged currency still further derangedl Were not
millions taken from circulation, and sent to places
where they were not wsntingl Was not the specie
basis fthc country, and the banking system disturb
ID by it7 Every body must answer, yes TO these
and thousand other such questions Not the slight
sst good has arisen from the measure.
And now at the end of six months from the COM
mcncement Of the operation Of this law, the govern
ment finds itself neccssatcd to repeal il, or to resort
to direct taxation to pay the expenses Of the nation
Will Mr.. Van Buren, dare 10 recommend repeal of
this ruinous lawl He knowsi t is popular among the
farmers in the interior. Let see If he will for once,
venture TO go against their prejudces. From neces-
sity, he urge its repeal ask the congress to
TAX the people II is easily which alternative he
will adopt
In the strife Of the two great parties wing and de-
mocra,, the country has been sorely scourgod. The
violation OF the contract with the United States Bank
and the adoption Of the pct bank system, with all