The Middlebury people's press. [volume] (Middlebury, Vt.) 1841-1843, 1841-07-27
FROM WASHINGTON.

Our news from Washington is to Monday
morning, at the time of the departure of the
morning mail for the north. 1t was the gen.
eral expectation that the loan bill would pass
the Senate on Monday without amendment,
and In the precise form in which it was report
cd to the Senate from the house. Twelve
millions Of dollars will, therefore, be placed at
the disposal of the treasury Department, as
soon as the money can be raised.
An amendment introduced into the commit
tee OF the whole, in the House of Representa-
tives, makes it necessary to redeem the mon
ey within three years from the time of its con-
traction. As originally reported, eight years
were allowed for redemption, but the majority
| relying upon the establishment of other meas
ures for raising the revenue, believed that the
condition of the treasury would admit of the
limitation agreed upon in both houses of Con-
gresS. Should an extension of time be found
necessary, it may be agreed 10 by special act
Of Congress.
The twelve millions of dollars will place the
Treasury in a condition TO redeem the out
standing treasury notes, and to pay in part the
arrearages due upon public work. As far as
We can Judge the deficit in the Treasury, on
account of the acts of Congress prior to the 4th
of March, 1S41, exceeded ten millions of dol
lars. The twelve millions appropriated by
the loan bill will meet this deficit and leave
two millions for the acts of the Special Ses-
sion and other liabilities. They will exceed
this sum, but the money appropriated need not
all be expended the present year.
The Treasury department will have Just
cause of rejoicing in the passage of the Loan
Bill and the termination of the Treasury sys-
tenn, which all in all we must think the most
deceptive and delusive which can be practis-
ed. The continued receipt of the notes for
public dues and the issue of notes to be thrown
into the Market is market is a measure of
public policy, which not only blinds the eyes
of the people as to the extent of the debt crea-
ted by borrowing money on the notes, but the
operation presents any thing but correct es-
innate of means and ends. With loan there
is clear sailing, and for the sake of the gov
eminent and the people, it is well that it should
speedily become law Of the land.
The bank bill will next be recommended in
the senate. In spite of all the lamentations
and croakings we have heard, we are still of
the opinion that bank bill will pass upon
principles of honorable compromise.
The Land bill will form the ground work of
the great battle in the Senate. Mr.. Linn, of
Missouri, will move an amendment that the
proceeds arising from the sales of the public
domain shall be appropriated for Notifications
and for the support of the Navy. Failing in
this, the opposition will be tremendous, with
some questions as to the line of policy to be
pursued by some two or three of the admins
tration senators, and some doubt of course as
to the result.
Such is the extent of the most important in.
formation we have this morning, to which we
may add, that the present week will probably
make some new Developments, both as to the
probable success of the measures, and the
length of the present Extra session.-N. Y.
Express.