Lincoln telegraph. [volume] (Bath, Me.) 1836-1846, 1840-01-09

1887, do not exceed sixty thousand dollars And
how does his exceency get al this conclusion
Why, he errepts more than million of dollars that
Swa-twout ran off with. with as much gravity
Fan well be imagined Quite a serious exception,
we should ihink--but even then, his assertion is
quite far from TIE truth, fpos,ive facts worth
anything at all Every one, who has given any at
tenoD 10 the subject Of recent defalcatons, knows
very well TINT the disclosures IF s37 and brought
10 light numerous lot of dpfau'iers whose de in
quencies in the aggregate, if we remember right
amounted to something like TWO MILLIONS of
DOLLARS. Even within the past year, several
Land Officers and keepers of public monies--the
Collector of New Orleans and Pattsburg-ihe Post
Mast, ~ of Mobile ard Worcester have made ser-
ous and prominent additions to the long catalogue of
defauters. If any argument may
be drawn from this part of the subject. it must GER
tainly be very cogent and unanswerable one a.
gansl the Presidents favolte hobby.
MIR. Van Buren, goes on 10 observe, that G! all the
losses sustained by the Government, the greatest
have been by the failures of he Banks. If any
thing is meant by ths--t must be the 'pet-panks,"
under whose admirable fnanciering, Gen. Jackson
in his last message remarked, that the Country
was prosperous and happy" and congratulated the
nation that these repositories, collected, kept and
the public monies, with such wonderful
ease and safeiy-wihout the loss of single doll
lar While the policy of the wings was decidedly
at variance with all such humbuggery Gen Jackson,
through his Secretary of the Urea ury, Mr.. Wood
bury, was directing all his energies 10 establish,
what he said was the fact, that these barks were at
all times the safest and cheapest class Of Repositories
that the Government could resort to--rnuch safer
than National Rank. and safer by Ear that any
system of locks and keys, or indiriduat agents or
OF course MIR. Woodbury. and
Gen Jackson made out strong case Wing policy
or warning was of no avail, and Cen Jackson
bounded popularity bore down all opposition. So
.hc "n-f bank system (ns all olhet huubugs must)
had its day. These, we suppose. are the "class Of
agents' that this part Of The message refers TO if
SO. we beg Mr. Van Euren TO charge the whole
blame upon Gen. Jackson's administration, of winch
he and Mr. Woodbury. were part and purcell, and
" lille his hand is in, he might just credit the Whigs
operate--jusi as they now tell him how bis sub
treasury plan will turn out. Put mark the consis-
tency of locofocosm in 1884, as we have just in
timatcd, Mr. Woodbury was required to convince
the nation that the State BankS were the proper
Repositories fer the public funds, and he made out
his case in pretty strong terms. and with great deal
of plausibity TO the unwary, and succeeded in
that! Now in lS39--tow ards the conclusion of the
graRd drama this same plian; gentleman, is direct
ing all his profound skill to clustering up entirely
opposite hobby, which he and Mr.. Van Euren,
gravcly inform has become the safest and best
project among all the humbugs that have yet been
projected J!
One other profound evidence of the superiority Of
the Sub reasury hard money system, discovered
by President Van Eurcn. is this. viz: that twenty
two out of twenty -se,en foreign governments. from
which authent' information has been received,
keep their public monies in charge Of public officers.
" h, does not the president likewise lnfo,m us that
some, if not all of those governments demand from
their revenue officers, immense deposits of funds,
as security against populations ard 'Swariwoung.'
which deposits remain with the government until the
incumbent closes up sati>fac oriy the functions of
his office OF conse, the immensely rich, can only
have the offices under such circumstances Does
the president wish to introduce such aristocratic
practices into this country Would the people toer-
ate it? The presden of course draws no compari
son, as to commerce between these twenty-five
countries and the United States and what is little
ha tic heT tn hp mt nv
precisely similar policy, forgets or entirely pass
es over the fact, that many Of those governments,
full of specie as they may be do not exact the pay
ment Of their revenues in gold and silver. We
have heard much said of Van Euren's penchant for
foreign coaches, liveres, and customs, but we had
hardly supposed he would attempt to introduce into
our national affairs, the old, rotten and WORKOUT
systems of aristociatlc European policy.
The President seems to have enthely overlooked
the really practical bearings of the plan and the
whole drift of his document goes to confirm US in
the belief, that the Independent Su6-treasury Sys
tenn as he dignifes it, is to be the leading hobby
for the approaching presidential contest. fad 1t
appears that all this gilded trapping, and labor
ed covering up of its hideous Determines, land obnox
ious features, bit to prepare the public mlad for
its immediate establishment, in older, to bring the
whole resources of the government 10 bear upon the
political community through the horde of newy
created Suttreasurers, and thus secure the re-elec
ton of His Excelency, arlin Van Buren,, as Pres
ident of the U. S.
We sincerely hope that the public may examine
this subect and form for themselves such opinions of