The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-08-15

ments about the LIST Of May, and the time
Congress were called together, LIST Septem-
her, the Banks had reduced the amount Of the
debt they owed tho Treasury, from about
thirty-two million, to about eight million Of
dollars. He also knew that, the tanks paid
thereafter, as called for. all but about four
million and a half Of that balance; therefore,
FIVE and a half Of the ten million Of dollars Of
Treasury notes asked for by the Government,
and authorized to be Issued at the extra scs-
sion, were in no way connected with the bal
ance due by The deposte banks. And what
is the issue Of second batch Of shm-plasie,s
amounting to ten million to be ascribed
tot Was that owing 10 the "relusal Of the
banks to pay over the public deposites !"
Away with further repetition Of these base
SANDERS and aspersions against the banks. for
the purpose Of misleading and exciting the
public mind against them, to cover up the dis
graceful and bungling manner in which the
finances Of the country have been conducted.
So this Government paper has not at all
times, and in MI places, been quite at par with
specie" Here is an admission of the truth,
for once and al last. Why, the Globe has re-
peated over again and again, that these notes
iosre better than specie; and would command
premium for specie. ! he snbseruient Sub
treasury orators In Congress,upon the strength
Of those assertions declared, there had not
been lime IN any one place, where these
Treasury notes could not be exchanged for
specie at premium As late as Friday last,
we saw il reported that, those bearing per
cent interest, were sold at a discount in New
York; and those bearing 6 per cent. interest,
at premium Of less than the brokers charge
for selling them; so that in fact, that descrip-
ton, which is the most valuable, do not realize
their par value to the holder.
Why were these Treasury shin plasiers
ever issued at all 1t was because those at
the head OF the public finances did not know,
or dared not acknowledge the true condition Of
the National Treasury. Deception was re-
sorted to and practised, for the purpose Of
keeping up delusion-those who did not take
the trouble Of looking, or Of even thinking
for themselves, were gulled into the belief,
that they were merely for the purpose of anti
cipating means IL fall due.
AT the next session Of Congress the truth
must be told. After bringing the credit Of the
Nation int" disrepute-incnrring a loss Of half
million dollars, by expenses, aud additional
interest allowed beyond what the money re-
qui ed could have been obtained form a proper
! and legitimate mode, loan will then have 10
be made Of some thirty or forty million dol
lars. for the purpose Of redeeming those Trea-
sury notes, and carrying on the Government.
Then will come the awful day Of reckoning
for those huaglng, laundering Treasury mana
gers, and inpotent fnanciers.
GROSS ABUSE OF THE ERANKING PR
vILEGE.
Under the above cap,inn, the Albany Argus
gives vent to its spleen and bitterness against
the Conservatives in the following:
Federal whiggcry and conservatism leave no stone
nnturned 10 advance the sinister designs Of The joint
stock concern. Il is charactetisc u the desPera-
ton Of this new Coalition that they have made the
sterling democratic county Of Delaware the scene
of their elcemo,ynary and electioneering efforts
They have literally shinged over that region with
MIR. Tallmadges speeches against The independent
| T. himself, for gra,uous distribution A crresron-
dent at Depose writes as follows, under date OF the
9Th nlt.:
Our country is completely flooded with Senator
Tallmadge's speeches against the independent rea-
| sury, in pamphlet form. They are SELL first to his
coparner in apoSacy, at Delhi, Gen. Root-each
/ copy being superscribed N. P. Tallmadge, U. 8.
| Free leaving Il to the former TO direct them TO such
persons he may deem proper, Package after
package am told, has been sent to Gen r. iranked
in this manner, and BY him they have been directed
and sent free OF postage, all over the county. A
number have been sent 10 this office under MIR. rs
| frank, but directed in the hand writing of Gen. r.
| The allied concern must be hard pushed, il they
can find no more promising field of operations Than
this county. Rely upon it, Is loves labor lost
Conservatism, as it is called, never had oothold
here; and conservatism abegsing has little chance
OF edecing Judgment"
/ Whether the allegation is true or false, made
against Mr.. Tallmadge, we shall not stop
now TO inquire. Even il true, to the extent
set forth by the Argus, we will give the con-
ductors of that paper a full offset and some
thirg to spare Of gross abuse Of the franking
privilege by one Of their own idols.
1t will be recollested that thirty thousand
copies of Mr. Wriaht's celebrated report on
Mr.. Clay's resolution were printed by order
of the Senate. For ks thereafter the
packers were constantly employed in folding
and placing them under envelopes for Col.
Benton. They were then piled up by wheel
barrow loads beside his seat in the Senate, aud
in all leisure moments he was seen placing his
frank upon them. They were then carried
back into the packing room, and packed in
parcels, the weight of which should not ex-
| coed the limit To which the ncrefnrv- of the