Iowa news. [volume] (Dubuque, Upper Mississippi Lead Mines, Wisconsin Territory) 1837-1841, 1838-06-02

Our National Treasury IL d its lees; the
last dripping are falling from,it day BY day;
only seven HUNDRED thousand dollars, accord.
ing TO the statements Of Messrs. " rich, and
Cambreleng. are left-.-all that remains Of tina,
golden food which. two years ago, was rush.
ing into il continually, and 90 copiously that
our legislators al Washington dipped it up
and threw it abroad again with the big ladle
called the distribution Of deposite act. In this
extremity what Is TO be done! We mus. have
some means of defraying the expenses of the
government when the few dollars which re-.
main are gone. We must either negotiate a
loan OF issue Treasury notes.
The plan Of issuing Treasury notes was a.
dopted al the last session Of Congress--.,l,e
special session If September. II Is not quite
clear 10 us that loan would not been better;
but Treasury notes, receivable in payment Of
taxes and for sales Of public lands, were pre-
terred by Congress on account Of their conven.
fence in furnishing mode Of making payments
10 the Treasury, and because they were evil
dences Of indebtedness which would be most
speedily and conveniently exsinguished. IL.
sues Of Treasury notes have, therefore. been
made, and the greater part ofthem have come
back TO the Treasury. The expediens has work
ed well, hitherto, but the authority Of, The Sc
cretary Of the Treasury. under the law, Is near.
y or quite exhausted, and actual destitution
is staring his Departmental the face. A con-
siderable proportion Of the Treasury notes
have been paid in before they were due. aud
as they are not allowed to be re-issued. the ac-
tual receipts Of the Treasury are SO far lessen.
ed. and it's resources will be insufficient 10
meet the charges on il.
Mr.. Cambrsleng has brought in q bill EN-
powering the Secretary Of the Treasury 10 re-.
issue such notes as are paid in before they are
due, or employ others in their place..--No new
taxes or loans, il is said, are needed. All that
is wanted is that the Treasury notes shall be
kept out until the term for which they were
given has expired. Unless something il done
10 provide the means 'of sdsfraying the national
expenditures. the public credit must suffer.
How has Mr.. Cambreleng's proposal been
met! In the House. by dogged refusal on
the part of the wing members TO consent 10
take up the subject; in the journals. by clam
or about the Issue Of irredesnabie paper.
Again and again has Mr.. Cambreleng en-
deavored TO obtained a suspension Of The rules
Of the House in order 10 take up measure ol
such urgent and Immediately necessity. In
every case he has been resisted and ihwarted
by wing votes. These gentlemen Wpuld like
10 see the Treasury as empty az Hoganh's
poor box with coLwsb over il, and then a.
muse themselves with observing how the ad-
ministration would get along. BY their own
votes they would destroy public credit and
then ascribe ito destruction and all the evils
flowing from u 10 the administration.
ii the mean time the very journals which
applauded the letter Of Nj. Biddle, refusing IA
resume specie payments, clsmor against MIR.
CambTeleng's measure % proposition 10 IT,
sue irredeemsble paper. Irredeemable1 Non.
sense! Why half Of the Treasury notes have
been already redeemed before they ara due---
some in public lands, others in eustoIa house
dues.--[N. Y. Eve. Post.
THE OH sDoMlsloN SAFE. Yes. Virginia
il get safe. and Democracy has triumphed!
True, the frderalists have carried the House oil
Delegates BY . meagrs majority fsir; but the
Democrats have won the Senate BY majority
Of tweiue-..leaving US majority Of six or joint
ballot. When We consider the fearful odds
against which the Democracy commended. this
10 a glorious triumph. and speaks volumes fol
the patriotism of the Old Dominion. The op.
position Of Mr.. Riyes and Mr.. Richie 10 the
Independent Treasury system created discord
in tho party. In many counties. Republican
candidates. agreeing in oil save one question,
ran against each other; thousands Of Demo
Gratis. seeing this state ofihings, stayed At home
and took no part IN the contest. The Old Do
minion i - thoroughly Democratic - svel
she was; she will say SO next spring in voice
AZ strong az that she uttered in the days Of
MI. Jefferson. Here 10 confession Of defeat
from federal paper:.-.f Mo. Argus.