The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-05-24
PROTESTED DRAFTS.

PROTESTED DRAFTS.
On Monday last, Mr.. Cambreleng stated
in the House that " 100000 Of protested
drafts psre no,c lying, and The suffering feH,
mol on The Government, but on indirid,tais icho
,rere forced By delay into the hands 81 brokers
and money-sharers al rui,,ous sacrifices"
This admission is made by one who has
been among the loudest in heaping denuncia-
upon the conduct Of those who are warning
against the banks Did the deposite banks
ever refuse to pay the drafts drawn on themi
Never. But here is the Government unable 10
pay drafts drawn on it. and cashed by some
Of those very banks, thus condemned, to sup
ply the means Of carrying on the war against
the Indians
The amount Of drafts drawn and now lying
dishonored, was stated by Mr. Wright in the
Senate, the other day to be much greater. He
represented the amount at over t,ro million
dollars!
The Globe of Monday night, for the pur-
pose Of breaking the effect that these state,
ments, made by Mcssrs. Cambreleng and
Wright were well calculated to produce, put
forth the following article on the subject Of
protested drafts.
/ "There is an error with some persons in suppos-
ing that the drafts which have been protested dur
| ing the last few months, are those drawn by the
| Treasurer, or on the Treasurer. These last have
been paid punctualy; but those protested are such
as were drawn on the Treasury Department by
| army officers in the south and southwest, In cases
where The old appropriations were exhausted, and
| for the payment Of which new appropriations
have yet been passed or course the Treasurer
cannot by law pay them, till Congress pass an APP
preparation authorizing IL.
A more confused, mystifed and ambiguous
statement than this from the Globe, we never
read. Does the writer of this article suppose
the whole world to be fools
Who ever before heard Of drafts drawn
by the Treasurer on the Treasurer? Such
is represented to be the case, and that these
have been paid promptly
Every one who knows any thing of the
laws of the country, knows that no money
can be paid by the Treasurer except on war
rants, signed by the Secretary of the Trea-
sury, countersigned by the Comptroller, and
registered by the Register, and these issued
on appropriations authorized by acts Of Con-
gress.
And again, the statement, that the drafts
"protcsted are such as were drawn on the
Treasury Department by army officers in the
South and South West" is not less ridiculous
than the preceding one. Who ever heard of
this class Of officers drawing drafts on the
Secretary of the Treasury? No one. They
draw their drafts on the various branches of
the War Department, as instructed and it is
under the authority Of these instructions, they
are enabled to obtain the money for the drafts
to meet the exigencies of the public service.
relying on the faith Of the Government, adj
vanced their money in exchange for these
drafts, supposing that they would be promptly
paid on presentation, are met with dishonor
OF them and are turned away with protest.
They can get neither meal nor malt-neithcr
specie nor paper! The banks must wait if
they can. The individuals who cannot wait,
are !" forced into the hands Of brokers and
money-shauers al ruinous sacrifices"
Yet, Notwithstanding, this unjust and cruel
treatment of those who have advanced their
money, to assist the Government in keeping
its armies supplied and in motion, the admin
istrators Of that same Government, and at the
very time when its financial department lies
under protest upon protest, and the deepest
discredit, are talking of an "Independent
treasury"
We are not surprised that those who have
the management of our fiscal affairs should
resort to subtcrfuge and every sort of decep-
ton to keep the people in the dark, and mis-
lead the nuhlic mind