Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-05-17

~ 10 draw upon tins surplus OF 10 create Nation
a Debt /, True, the sources oil revenue have TO 4
r,sa,extent been dlied upby the defanged condition
If The commercial and ~moneyed woild-but tins very
,e,,ueemept is mainly, il not exclusively, aiitIbula-
II. IN those who now hold it up as the cause OF the
..sis which we are suffering. But this Is not the
.alo c,nse . and that it Is not, Is evidcntirom the adj
.,;,.eJ fac, that The expenditures of the government
1.-Two been doubled, and in some years almost tebled
,v Ills administration aud its " illustlious preleces-
so,., Here is tue main cause oil the embarrassment
or,be Treasury-he increased expenditures 81 The soc-
.,,oent. Look at the facts stated in the speech OF Mr..
po,5 ,,extraot from which we insertlhis morning, en-
emnln,iug the growth oiicderal patronage, and with
!, the growth of the public expenditures. Look, too,
= the specch of Mr.. Rhett of South Carolina.-no
enemy, now, ofthe present administration, whatever
ba may have been in times pas',-in which he re-
proaches the dominant party with their past prolii-
gate expenditures, and their lutute extiavasant est
mates, in the face OF the fact, that the Treasury IS
empty. For AiS year, the Secretary estimates the
public expenditures at SO millions OF dollars aud C.
ven this enormous sum, twice as much as was ex-
pended during any one year of the administration OF
Mr.. Adams, when the whole nation was electrified by
cries of" Retrenchmcnt and Economy y we are told
is less, by some seven or eight millions OF dollars.
than the sum embraced in thc appropriation bills be-
fore Congress, and which are Of course based upon
the estimates and den auds Of the different depart
ments of the government! Can we be surprised
that the treasury Is empty, when, with decreasing
revenue, we thus hear Of increasing expenditures!
When our dependence upon Customs is nearly
destroyed by the decrease Of inpurtatiouS, and The
sales OF Public Lands have almost ceased is this a
time to appropriate forty MILL ons Of dollars, to be ex-
pended in a single year, by the s~elfstylcd champions
of Retrenchment aud Economy . 1t would be
strange, with such economists. 1.-THE government were
not bankrupt.
= 1t is proper to add, that tlc Secretary of the Tlca-
sury does not ask Congress TO call upon the Statesto
dissorge the Surplus Revenue which they have te-
ceised, though we cannot conceive why he dd,cIts 10
the fact tlat they hold some millions of the public
money, while the treasury is empty, without lie wish
cd indirectly 10 procure tlns result, without assuming
the responsibility Of directly recommending II.
lis ch!ci reliance seems TO be upon a new issue Of
Treasury Notes. ape, money, resting upon no
other basis than the credit of the go selument,-llc
tie notes Of non-specic paying Eanls incon,eftib'e III
to spccie, aud, like ,aern, arcdeemablc cAccpi in pay
ment Of debts due to heissucr! III other words, he
asks for authority TO create a National Debt, not ii
rccily by a loan, which would justly alarm the people,
but indirectly, by an issue OF paper, receivable only III
in payment OF public dues, and, therefore u loan in
fact, though not IN name.
And thus ends the first chapter ofGtn. J]acIsou's
grand Financial ENperiment.-Pas>, now, the sub
Treasury Bin and the second chapter viii be wit
ten, before the Isl oil June, ls39, III sail darker &C.
lurs.