Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-02-20

The Condition of the Treasury Treasury Notes
The Bank Var-1ne Pension BiI--Netu Jersey
Contested Eiecti0n-Gov. Porter-Pyoceedings of
the Senate, &c.
1t can scarcely be doubted that the Treasury will
be found destitute of means, in a very short period
II 1t be not now, absolutely in bankrupt condit ion.
The reduction of the Tariff, that took place on the
LIST OF January lS4O has already been felt in antici-
patton; it will be felt in reality the LIST of
1t is not only the reduction of the Tariff that has
producedthis result, but the general decline of COM
merce, has had vast effect the revenue of the
nation 1t is believed that the Secretary of the trea-
sury will want at least l0OOO,0OO of funds after the
LIST of April, which the of the whole union
will not affords and between April aud the LIST of Jan
lS4l, he will want add itonal of $40 900
The sales OF the public lands are suspended, by
reason of the general embarras sments of the whole
currency and monetary systems; and this is one of
the most important tributes of almost ami
hilated.
"The king wants money, and must have it," and
it only remains to ascertain how that money is to be
obtained. The one party, as it did in 1887, recon-
mend loan; the other will insist on replenshing
the ceffers by issuing Treasury notes! Which way
is the more desirable! 1t appears to me-and con-
Tess that am fnancier-that the issuing of Irea-
sury notes is TO be preferred to raising money by
loan. In either you do but issue bond, with
this difference: that in the you raise money
the faith of the Republic, by issuing bonds that
at the same time act nominal currency whilst
the other hand if you come to a direct loan, you
issue bonds that will be boarded up, and be
used as kind of currency. The proposition either
to raise money by a loan by the issuing of Trea-
sury notes, however, will give rise violent con-
troversy between the wings and the friends of the
administration; and such as will lead to
world Of acrirnony In the mean time, the war will
be waged against the banks with undated ardor and
they will in nine out of ten get the of
the bargain. The against the banks will not be
closed till every vestige of the present banking sys
TEN is obiterated.
Today, Mr.. Davis, Of Indiana, asked leave to move
resolution to extend the time for receiving petit
tons to the first day of March next
Objection being made, Mr.. Davis moved sus-
pension of the rules to enable him to take his resO-
luton up, and demanded the ayes and nays which
were ordered, and the motion to suspend was lost;
ayes 10l, noes lO4.
Mr.. Cave johnson called up a resolution. submitted
several days ago, to permit the Committee Elec
tons to print sundry papers and documents in its
possession, for the information Of the House. After
he suggested an amendment,
Gen. Campbell, Of South Carolina, Chairman Of
the Committee on Elections, took the floor, and
made long explanation of the that had led to
the delivery of report on the New Jersey case. He
stated at length how the committee had stood
rious propositions; but, he read from ript
before him, and as did not distinctly unde rsand all
he said, cannot attempt to report him. In concur
ding his remarks, he said that If the Committee on
the House, which Of the two sets of claimants from
New Jersey, the wings the democrats, had a ma
jority Of the surages ofthe State il would have
hesitated to report in favor of the latter There
evidence to be relied that they had majority Of
the votes. But the committee had other facts to
port and it did not choose TO act that part Of
its duty alone.
The morning hour having expired, the spe-
cia order Of the day being the annual pension BILL
was called, and the bill was taken up, and OPP
posed with great violence, by Messrs. Rice Garland,
White OF Kentucky, Tillinghast Of Rhode Island,
Mr.. Wise of Virginia and John Bell Of Tennessee.
The main opposition 10 the bill rested the
ground that there funds enough to meet the
pension payment that fell due the 18th Of March,
and that to meet the payment that felt due in Sep
TENDER, II would be better to postpone the
ry appropriations till the first of May June. The
debate had not been concluded at O'Clock.
In the Senate, nothing Of any consequence was
transacted. As soon the ordinary business Of the
morning hour had been disposed Of, confined prin-
cipally to petitions and memorials, Mr.. Grundy's
report, Bentons non-resumpton resolutions with
Mr.. Crittenden's proposed amendments, was taken
up, and Mr.. Hubbard OF New Hampshire, took the
floor and held il all day. in speaking against the pro-
posed amendments.
Gov. Porter, il is understood, has given Mr. Bu-
chanan, such assurances Of his fidelity to demo
cratic principles" that all heart burnings, and lea
locies and misgivings have been silenced Gov.
Porter, will therefore, continue his war against the
Banks. Yours, &c.
APPOINTMENTS fOsTMAsTEPs,
BIZ and tcih the fduice and Consent of the Senate.
Azariah T.. Flagg, at Albany, New York. Samuel
Workman, at Washington, pennsylvania; James s.
Gunnell, at Washington, ID. C.; Alexander Gait, at
Norfolk, Va; Abraham Coryell, at Easton, Penn /;
Charles X. Miller, at Bangor, Me-; William Me
Queen, at New Orleans, La; Joseph Blair, at Co
lumbus, Miss; Allen Tomlin. at Gslena, H.; John
w. Townsend, az Mobile, Ala; John II. Lord, at
Oswego, N. y; George l.. Douglass. at Louisville,
Ky; Nathaniel Mitchell, at Portland, Me; Charles
w. Woodbury., at Salem, Mass, in the place Of
Ebenezer Putnam, removed.
THE ONLY REMEDY ron THE Present Evils
new national bank and a new national bankrupt
law. Nothing else will do.
MAINE BouSDARY.-Thc Aroostook boom cost
$500; the timber caught and sold by the state,
has realised $50
FAsnIoS.BLE MovEMrsrs.-The elite Is now in
the most active state Of preparation Tor the grand
bal costume to be given at Brevoort House on the
Nth Some of the most curious incidents have
taken place. which we shall notice in day or two.
Few Of the beau monde will visit Washington till
after the fancy balls. In March, great crowd Of
fasbionables will proceed to Wsshington-and ac-
cord;neIy that month will be considered the gayest
in the capitol.
Ms Mr. PrARcr, the Indian Chief and Warrior
Of the Seneca nation, from Buffalo, delivers a dis
course on the manners and customs Of the ancient
six nations, tonight, at the Chatham street chapel
II will be worth hearing.