Lincoln telegraph. [volume] (Bath, Me.) 1836-1846, 1838-08-23
MISCEL | A N E 0 U S.
BIDDLE HAS TRIUMPIIED-TH
ADMINISTRATION HAS Sue
CJJMRED

of our readers, that the Government holds
three bonds against the United States
Bank, one due this year, one next, and the
other in 1910, for about 80 900, 900 each.
Some months ago when the United States
Treasury was exhausted and the commit
tee Of Finance were urging the issue of the
Cd 100000 of Treasury notes. Biddle
proposed to the Secretary of the Treasury
to anticipate the payment of these bonds,
and cancel them at that time, in order to
prevent the issue of more Treasury notes
This proposition was rejected. But al
though the Government would not negoti-
ate with Bidde directly, they have been
compelled to do so with his Agent, Charles
McAllister, and the bond that falls due ia
September 1885, has been sold to Biddle
AT PAR, notwithstanding the stereotyped
cry of the Loco locos, that the Bank owed
the Government and could not pay, and
that the people must lose it. 1t is also said
entered into for anticipating the Tayment
of the bond due in September 1910 should
the state of the Treasury require it.
The Government foresaw sometime ago,
that these bonds must be anticipated, in
order to furnish the Treasury with funds
for the remainder of the year, but they
were determined to try every other expert,
ment before they would humble themselves
at the feet of that ''devil ncarnate, '"Nick
Biddle." For this purpose, according to
the Madisonian, "the Agent of the MON
Ely KING Of Europe was applied to, he
would not negotiate within thp limits of the
law prescribed for the sale. An effort was
made to form a combination of State
Banks to purchase them distinguished
Bank officers came to Washington, (wheth-
er by invitation we know not y this shceme
failed--then they were advertised in open
market for bidders ; no bidders coming,
then, like MIR Van Buren, to the Nullifers,
IA bitter pill but it mast be saOallo,sed," the
offer made by Mr. Biddle, or as the Globe
has it, in capitals, the offer Of Charles
McAIister Esq was accepted BY the Sec
Rotary Of the Treasury"
Slut there is one other remarkable feature
in this transaction, and that is the tcay in
which this payment is to be made by the
Bank. AS we understand it, the Bank
gives the Government credit on it's books
for the amount Of the Bond when it is can
celled, and is under obligation to make
trainers to any part Of the United States,
when and where the Secretary of the
Treasury shall dictate by his warran. on
the Bank.-Ihis, so far as the money goes,
is placing Biddle and his Bank erocily
,ohere they 'cere, before the charter erpired
and making them, to all intents and purpo-
SEES, the FINANCIAL AGENT OF THE Gov
EMINENT! This is sdivorce of Bank and
State" with vengeance. This is dis
pensing with the agency of Banks IN the
fiscal operations of the Government" An
anti bank Government voluntarily enter
ing into an arrangement, by which that
become its financial agent" An exclusive
specie currency Government paying its
creditors in ''Biddle's rags" and worthless
shin-plasters" "Oh consistency, thou arr
jewel"
These Bonds were given to the Govern
ment, by the Bank, for the stock, which
the Government owned in the Bank before
the old charter expired. This stock cosl
the Government originally $1,000, and was
sold to the Bank at IS per cent above par,
amounting to SO, O50,0OO, SO that the Gov
eminent has actually realized net gain oil
ONE MILLION. AND FIFTY THOU.
SAND DOLLARS. !by this bargain with
this same Bank, which Gen Jackson, all
his followers and all the pensioned presses
in the country have again and again pro-
claimed to be bankrupt and SO miserably
weak that the public funds were unsafe In
its possession. [Kennebec Journal.
NOpTI r cTEpN pOIrNnApv