Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1840-04-06

TREASURY NOTE RILI.

opposition 10 the Treasury Note policy, which, he
truly said, was but proposition, in her form. TO
torrs,s five millions Of dollars. We copy the follow
iss abstract of part Of his speech from the Balti-
more PATRIOT. 1t presents. in brief compass, sub
lect Of grave reflection:
Mr.. WEBSTER referred to the Presidents boasts
IL his message about The OF The financial ope-
Taions Of the Administrator. He had no dsi osi.
tsnis embarrAss the Government but, on the con.
trary, every desire to AID and assist; he could
noisee any great rcasons at present TO leciaie
selves on having an eifowing Treasury.
What The asked) was the state of The Treasury,
presented by the Secretary. at the beginning oi The
sesson-ihai is, what WAS the amount OF the act
val means. and the actual debt
The whole amount Of means available on the Isl
DAY Of January, le4O. was one million and hoJ Of
i.Nars There were outstanding, at the same TINE.
Treasury notes TO the amount Of THO MILLIONS
AND THREE QUARTERS!
These are i.dispuiable facts, which the country
should bear in mind.
Now, What our condition three years before
What has beentbc amount of annual expenditure
sinesl Whence have we derived the means ofmee,-
iuy it. Add are those means permanent or al
ready exiiausted-were they only temporary
These are important questions.
At the beginning of the year 1897, there were. ac-
toding 10 the documents from the Treasury DE.
Psiineni, and as every man conversaDt with these
subjects knows, six millions OF dollars in the lrea-
sufE. Al TIE extra session oi yfhI, So'S'tss
passed AN act Withholding the payment f SINE
MILLIONS DOLLARS under the dsposite bin oi
1856. Subsequently, tie Treasury received pay
W. NJ f,wo bonds 81 tie Bank # tie Unued States
an,"upting to five mllitns of dollars. These, la
kss together, make TWENTY MILLIONS. in addi"n
is,he regular receiIs. Nut oui, las all Ills
minus sum been expended but, in 1910, the Co
ssfnmcni i'm de't I" tie count oiTwo MILLIONS
srvEN HUNDRED AND FIFTY THOUSAND DOLLARS
After deduciing The whole anluunt OF the Uuued
states Bank Bonds, and The balances due from
banks, the round snnoi TWO MILLIONS, TWO HUN
PRED AND TWENTY THOUSAND DOLLARS sill re
MAINS us the expenditure 81 Hps administration IN
hrfe years BESIDES ALL THE RECEIPTS raoM rnr
Cvsr"M HOUSES Ash LAND OFfIcn
Tue EXPENDITURE III THIS Administration has Ex-
fEEDEpI INCOME BY SEVEN MILLIONS OF DOLLARS
AYEAK. FOR TuE LAST THREE YEARS..
Mr.. WEBSTER then proceeded 10 asks this an.
hual expenditure to be decreased Is the rev
fnue to be increased. and il neither of these
two hin,s is be done the dehci,Lcy to be sup
piled 10y a LOAN!
The Treasury Note Bill he maintained, was mere
u PROPOSE ION for loan.
A loan, he regarded in every respect preferable
10 the issue OF Treasury notes.
A stock Of the United States would be readily
1sposei Of in Holland, in England.
Whshco this ropu snance to a loan the part ri
the Administration
is simply lem dread of ll,- political conseqnen-
res ofgviog abroad the idea, that they are inc urring
debt that ,hry are borrowers.
To tilr " of This obvious H. ton, they pretend 10
slk Of anticipating the revenue OF this ycar
Does any one dream tia, the revenue oil this year
siit redeem these notes No one. Not man even
81 the party has the S" aest belief III any such
henssuse. The Sc,niaf, knows the contrary.
Ipe idea is perfectly pnerilr. Who does NOT
IN W thar this Administration has been borrowing
money, from the first session held under II down 1"
This moment In 1897, II borrowed money which
has never been paid, hnl by borrowing other money.
~ which fhe Government has been paying interest
ever since
A rational debt has been begun, and whoever is a,
the hr al OF the Administration in 1910, will find "
public bi, rs old as 1897. " hich Was Incurred un
der She Administration oi Maritn Van Buren, ant
Il. ae provided for by some better means thar
Ian ~ mites on high l. tcrest.
lomi uld II be necessary for the Aduinisii alton
Eheh will succeed The present, to iundt exis,,nl
dsbi, lei be understood, that such measure wouIt
rot lie tie beginning Of public debt
Mr.. Benton opposed the Bill in .peech ard
vote. is the Missouri Senator cunning over lar
ri'on!
o. Tho Treasury Noie system is favorite paI
Of Mr.. Cahoon'. Mr. Benton The other hand
rays. u detest these treasury notes. In time u
peace, abhor delest and eschcw them. Which
sf,ho new allies is orthodox 7
O. The Enquirer like the tailor in the play, ha
correspondents at every point of The compass, lCon
p'arIinoplc excepted y Al of them give it elA'
odngs, ofcourse. they are To Ae b-!Isyed. tn
wings W II be utterly auuhated on the 93d OF April
IN the Old Dominion. reference to one Of Ties
poe stories, the Charlottesville JEFF, rso, ian says:
The Enquirer tells us tina, in Nelson Mr. Ran
ao'ph appeared ably on our (sub-tcasury side
VIZ H. himself gives quite ano,h"r account OF his
,',t'o Nelson he same paper says Brown vii
"neaien, aud Rivers was downcast Our lnior
nation Is quite the CONTRARY OF this. Brown will b
tsc'ed BY $50 majority; Mr.. Rwes vas in fue sp'r
y a"u his Speech had good effect on The minds o
}ne people; several who weat To the Court Hous
'oenhy opposed to Gen. Harrison, came away de
N'"'ned 10 support hun. One man who had bee
%on'er =" his denpnciaiieps 81 Gen. II ,ha, ii wa
nothing could change hun, after hearing III,
oess "i Mr.. OAKLAND declared that lie woul
.O'e 'or Gen H.. IN the fall. He was of course
r'"eo upon by five DISK Of the party, to ny an
,l NM recani. but he would not, aud declared l
iot presence that he would vote fu, Gen. ilaIIso
f'oe the next President"
o,M..f The las, Fmcaste Democra. caplrs The En-
ia, 'on'rapeous Wing fraud" The Des."cri
,,raaned, before this t,,he tira tho whole glory
ss,ma," o. We hope viii set the Eainhcftt
ape 81 eoairadic,u: ii, a. .