The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-12-19
M. webster's speech which win be found h


Mr. Webster's speech, which will be found in
another column, is clincher. Ii grapples the
message and the report on the finances with
great power, and holds up their deiormities to
the world. II dissipates the fog which has ex
uded from the Treasury Department, and ex-
poses all to the sun light
Mr. Van Buren,, in his message, processes 10
deprecate National Debt Mr. Webster an
swers, that his views may be well enough, but
he denies that any party ever existed in this
country that favored National debt, per Sc, as
thing desirable. The only National debts we
have had were those which grew out Of the Re-
evolutionary war, and the war Of 1872 Will
any friend of the country join the President in
casting an imputation upon obligations entered
into at those periods for SO necessary and hallow-
ed an object2 With what grace does such an
imputaton come from an Administration which,
is the first that has ever commenced a national
debt in time Of profound peace For the same
message which deprecates debt, and which
seems DESTROYS TO impute to somebody or party
opposed to the President, a disposition to es-
tablish debt, admits the actual existence of a
ton MIR. Webster demonstrates that during
the four years of Mr.. Van Buren's administra-
| ton the expenditures have exceeded the receipts
by nearly eight millions year Does not every
man see that this administration has therefore
incurred National debt which is now actually
before us, and that Mr.. Van Buren, is anxious to
shift the responsibility of it from his own Shout.
4 al, c.l. A. a
But this is not ALL In addition to the outstand-
ing Treasury notes, there are funds held in trust
for the Indians, which have wrongly been
mixed up with the general funds Of the
Treasury, in the Secretary's statement of the
accounts; there are, also, variety of demands
for claims and accounts, the pa, ment Of which
the Treasury Department has been siaying of.
The debt began in 1887, and from the date OF
the first Treasury note bill, to this time, there
has not been moment in which the Govern
ment was not in debt for borrowed money.
/ But 10 make good case for the administra
ton, Mr.. Woodbury. alludes to the twenty eight
millions on deposite with the States as funds in
the Treasury. Is there a sane man in the ma
ton who so regards these depostes2 On the
contrary, are they not very generally regarded as
irrevocably distributed? But can that he held
to be in the Treasury which requires the enact
ment Of law to put it there2 Certainly not
With what propriety therefore can the Secreta-
ry use such language? But in the midst of all
these deprecations OF a national debt, and while
Mr.. Woodbury. substantially declares that the
public revenues may be indefinitely increased, as
well as indefinitely diminished at pleasure, and
while he is surrounded by debts, does he make
one solitary recommendation to obvate the diff
hculty he affects to apprehend? Does he pro-
pose additional duties upon luxuries2 Oh no
But If ne be called upon he can report plan by
which the Treasury can be relieved from its diff
iculties Upon compusion Why not upon
his oath and duty? Why did he not frankly ell
US the Treasury is in debt, and suggest remedy
if it be so easy thing? Does il not look as il
he intended TO misead and mystify the public
mind, and throw every possible obstacle in the
way of the new Administration
But Mr. Van Buren, and his friends will not
escape easily behind the fog they have raised
The balance will be struck on the 4th of March,
on the books Of the Departments, and the
amount of debt which the Administration has
incurred, will be as nearly as possible ascertain
ed, and be marked as ''the debt of 1S41," to be
provided for by Congress The responsibility
of the debt will rest where it belongs.