Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1838-05-26

. BEGCAKLY ACCOUNT OF EMPTY BONE.
> The Executive has been compelled To co,ae Z
. Congress ior money. The SeerctarS's story Is
tissue Of confMsiOR and T.crplexiy. lie wOu!! !,i
make out that there means cnoug h. uni
!, be could not get at Esem,. Thus he estimates tn
n money distributed to the states. means 81 th'
. Treasury. And the money due from the pc
: banks, tor which to make payment has been Civ
en-, lac affects to consider curreat means unfairly
withheld. The Continuance Of tho banks TO
: pend specie payments IS alleged as ono cause !"
!, the governments difficulties. Every word q
this is fog il not talschOod.
Nobody calculates that the states are 10 be
called upon TO return the sums they have re-
ccived. The money now duo from the pct banks
, which can be demanded, on the resuptio0 Of sPe-
, Gle payments, IS Of comparative small amount
. When the banks do resume. the treasury notes
will continue TO bc paid in for revenue, and INC
affairs Of the Treasury cannot he improved. The
honest truth "f the case is very plain-THE
GOVERNMENT NOW WANT A LOAN OF
TWENTY MILLIONS OF DOI.LARS-and
they must have it They want to cover it up
with reissues Of Treasury notes, to conceal from
the people that they are borrowing money. IL
all wont do. In less than twelve months debt
nnss be scored mp Of from FORTY TO FIFTY
MILLIONS. Yes! Mr.. Van Buren, and his pub
lie economists must create q national debt, IN
the proper form Of national debt. They must
not be permitted to obtain credit in any other
form.-Cin. Gaz.
STATE OF THE TREASURY.
/ Tho following message was received from tho
President Of the United States, by Mr.. Abraham
Van Buren,, his private Secretary:
To tic Senate and House Of Representatives..
submit to the consideration Of Congress a
sta iemcnt, prepared by the Secretary Of the
Inv vxh ecIn If he tCI
States, with over twcnty-eght millions in dcpOs-
tic with the States, and over fifteen millions due
from indiv iduals and banks, arc, from the s;tua-
ton in which those funds are placed, IN immcd
ate danger Of being rendered unable to discharge
with good faith and pronptitude, the various pc
cuniary obligations of the government.
The occurrence Of this result has for some time
been apprehcndcd. and efforts made to avert it
As the principal difficulty arises from II prohibit
ton in the present law TO reissue such Treasury
notes might be paid in before they fall due,
and may be cfiectualIy obviatcd by giving the i
Treasury, during the whole year, the remedy /
would seem to be obvious and easy.
The serious embarrassment likely to arise from
longer continuance of.hc present state Of things
induces respectfully to invite the earliest ac-
with n due regard to tho public inter
cStS.
May 10, 1888. NJ. VAN BUREN,.
TREASURY DEPARTMENT., Nav 10.
The undersigned would respectfully submit to
Tho President the following statement concerning
some fiscal cmbarrassments which arc likely soon
10 happen. unless averted by carly Legislation.
II has been usual for the Secretary Of the Trca-
ury except in the annual report the finances, .
nd in replies to special calls directions nv 9Th
r house Of Congress, to give information respect
ng q" matters which appertain TO his Office, thro' 7
cttcrs addressed to the appropriate committees.
FOR some months past. and on several occasions, .
l. L..
threatened endorsements, by giving to tho COM 8
nittce on Ways and Means such information con-
erning them the public exigencics ind sea- "
enable foresight seemed 10 require. Soma sug- =:
cstons and facts connected with them have like. "
rise been introduced into reports made to Con-
ross. But the relief desired having not yet been
ranted, and longer omission to provide for the -,
having a tendency Ia impair public -
redit, to the great prejudice Of contractors and
well Of pensioners, the Army. 80
axy, and many other classes, the undersigned -,
GEMS il his duty to appri sc the Executive also Of
,e impending difficulties, in order that he may =,
Ike such further steps appear proper 10 pro- -.
otc faithful discharge Of the pccuniary oblga- :
Dns Of the Government. -
The popularity in the present condition Of the 49,,
,ances ran he very briefly explained. II has a r
.en not from any actual deficiency which has =.
4 occurred in the amount Of receipts anticipated :.
the year; nor from excess Of appropriation y,
hich has vet been made for either ordinary -,
,ordin,ry objects; but from prohibition to use, IN
the payment Of public dues, what 10 required xe
law to be received for them. IN
In the act Of October last, authorizing the issue
Treasury notes, thoy were made receivable ut n
v time for these dues, hut were expressly for -.
iden after such receipt, from being rc-issued in
charge If claims on the Treasury. From this H.
cumstance, coupled with the Protracted failure m
most Of the banks to resume specie payments, -,
lie has If late been received for revenue ex- b..
,t Treasury notes. Over FIVE and a half mil e..
ns Of them have already been paid in, though -.
ne fall due till about tho first Of November next
these cannst be paid out again, others in
,ir place. till the restriction before mentioned IL
dilied. il has followed that great portion Of :.
receipts Of the year have thus far becn entire -.
useless for aiding to defay the large cxpcndi- ne.
es charged upon IL, and resort has Of necessity 80
"a had to the emission Of moro Treasury notes ~"
Ter the original act until the whole amount au- ~.
s.]e" e.ooP' S~o' -. "a;, orc
with the exceptions 70 trusts and '0
Mint detailed in a special report the eondi- A..
\ of the Treasury TO the House Of Representa- -.
es the 26,h March last are reduced 10 about 80
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