Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1839-01-04
CO NC IL T. 8 s.


Although the past week has been un
fruitful OF important incidents at the poltI'
cal Metropolis, owing to the intervention
Of the Christmas Holidays, yet the letter
writer's have not wanted themes for discus.
sion. Mr.. Wise's vigorous assault upon
the Administration on the subject Of the
late great defalcations- Mr.. Rves' formal
secession ESQ regarded by both paries) from
the Administration in his late speech in
the Senate --tho new Senator elect from
1ndana--dI,to Ohio--the probability that
the North Carolina Senators will be Gin,
struci cd" out of their seats or into Wing
voting 1.-The Russian Minister'S great soiree
1.-The question Of recognizing Hayti as
sister RcpubIic--aud many other topics
are industriously agitated by the 'scribos'
Of the Federal City.
Two bills have been introduced 10 the
respective Houses looking to the settlement
Of this matter, but we must regard that
submitted by Mr.. Wright to the Senate as
emphatcally the Administration measure,
having doubtless been weighed item by
item and discussed in all its various bear.
ings at the White House,
I'M" OIL, proposes an entire new system
OF Finance, and is necessarily elaborate
aud complex in its provisions. Many Of
these appear judicious and necessary; Of
DINERS The pI9psis! sSot so obvious to
u, While there are some which we could
wish had been embodied in separate bill
We do not perceive the propriety ofputtiug
forward an entire Treasury system under
the title of an act to prevent frauds anc
punish defaulters. fit be intended TO in
sinuaie that the National Revenues car
only DO preserved from depreciation by
what is termed divorce Of Bank ant
State," or TO couple the two objects to-
gether in such way that those who fee
constrained to vote against the Sub. Treas
ury may be accused Of resisting PROPOSE
ton to prevent frauds and punish default.
srs, then the continuance is unworthy ,
statesman Of the conceded talents Of Mr.
Wright.
five have been able correctly to under
stand this bill, it is intended to allow the
receipt of Bank Notes by the Collectors
OF Revenue, but to require that every sucl
note shall be Instantly presented to tn.
Bank and the specie drawn upon it.. This
specie is 10 be paid out to the public cred;.
ors, but if any considerable surplus shal
accumulate on hand, the officer holding
is to deposite i, in some approved Bank, pro
vided neither the General Treasury no
the Mint is at hand Should the Collector
Receiver or Postmaster dare to keep an,
Bank Notes on hand lover night, we pre-
sume,) he thereby forfes his Office an
any arrears of compensation that may b.
due him. Such is the Sub-Treasury por
tion Of the bill, which approaches NOR
nearly 10 the extreme severity of Specl
Exaclion than we had anticipated, ye
without fully touching that point, and ye
makes diversion on the other side towar
the Special Deposte System.
We will not now discuss the provision
OF this bill. As a whole, its effects on tn
currency would be by no means go HAIRS
as the direct Exaclon of Specie of tn
public creditors, while it would seem t
answer every purpose Of security (fror
Bank delinquency to the Government
How il will operate to prevent utterly tn
Sub Tfeasurers from making way with tn
Public Money--a practice to which the
are Of late much addicted-is not {
obvious, though some of its bars in tn;
direction are very well put up. The built
ing Of Sub-Treasuries, with vaults, safe
bydrostatic balances, &C.. appears to
no longer contemplated.
A.za-..a...2
FROM nj EXICO.