The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1841-08-12

W. "1N-rlSOl Wlnlon5 OF dOD0TS. ROmln0Iy,
the MI aasa limiistinn 10 lis duration; il is
hmlied TO The commencement OF forsign pow
er; bdl the limitation IL iUsory. If the land
revenue gnes once, it ia goas forever. IL this
bill PAs.cS nov for annual distributions, we
shall hsVe neKt year, bills TO make a general
distsibHIon 81 once Ito kill the goose, and get
all her golden eggs at once. live cannot 70.
tain this fund while we have tiff we cannot
apply il 10 the public defences nov, while the
lands are still in our hands, according TO the
patriotic motion of my cOleagne we cannot
do this now, the lands are gone forever; and
the customs and other revenue will follow.
What is absurdly called the debt due TO the
States under the deposite act, for the fourth in-
stalment, is anOiher item, found in different
form in these new Tfeasury books. The pre-
sent Secretary Of the Treasury has found q
new disposition for this sum: he proposes TO
pat II into tho Treasury bank, as so much
stock sub~cribed on The part oftbo States, and
10 unlsh these that viii at accept the Bank
81 giving their share 10 the States that will ac-
cept. Here is seduction on ono hand, and
cbSstisement on fbs otAeG snd between the
two, tho Secretary no dogbt thinks all the
Staes will DO brought into the snare, and &C.
cept the BaDk-lhai Bank which lies behind
the one now before the Senate, which is as
much worse than that as the sUpcrad6i,ion Of
fraud, bribery, tteachery and hypocrisy con
make worse aGact originally bad. Nine mill
l'oas le tho amount Of Ibis sum proposed 10 be
tEuandered as dcaceurs 10 The Stales, to 90
from them to the British. whose agents have
henored this session Of Congress wiihtheir at.
tendance, and Who have applied TO the new sd'
mlnii'EaIors 10 Assune The State debts. Twen
V-seven millions Wete deposited with the
States under sscted promises 10 restore it: the
t~Gnly-seveH is not restored; and the new pow
ers propose 10 send nine more after them.
Then eo|nes tbs proposition from the same
Secretary 10 borrow. or raise by duties, feur
fnlOns OF dollars, let 1t lie in the Treasury,
that is to say, in tbe Bank, ss reserved fund
not 10 be used until necessity or some contin.
geney should happen 10 require il. This re-
serve is ProPosedso be permsnent-to lie in
Bank alrsyu-sHd il used in a contingency,
to be immediately supplied by new deposite.
do not repeat my arguments against the wis-
dom OF such Proceeding:l do not repeat my
arguments 10 shov how much safer and ehea-
per it ond be TO let this reserved fund remain
IN The form OF power TO borrow when nec-
essary 10 fulfil appropriations made by Con-
gre&s, in which ease il would be forthcoming
when wanted, and, 10 the mean time, would be
iree from the contingency Of loss, and tho Ger.
tslnly Of interest," and the folly OF giving to q
Bank The gra,uitous use Of four ml,ons, eth.
er borrowed on interest, or raised liom the peo
p'e by taxation. leave out these views, and
only enumerate lhe item as Squanderi0g of
60 much public money. ] only look now 10 il,
amount, and this great. IL for only one years
1, would be four millions principal. and the in.
ieIssl; but, beng Intended GO a permanent pro-
vision, Il must be looked as an interest repre-
sentlng 60 much capital This st six per con!
would be about sixly y-six HIIions Of dollass.
Having completed his detailed viox Of tho
fiscal, or moreyed phTi Of the entries in these
new books, MI. b. On ptesenioJac . ensed
general viow oil thesame, by wSy Of recepllu-
lahon, lntbree tabuAr statements, as follows:
Table showing tIo amount oflhe money,
means, and sccruins revenue turned over 10 the
new Adminisiraiiot on the 4 Of March, 1911,
10 dsiray the expetses Of The Government for
the remainder Of dhe year, being ten months:
!. Hard money 10 the Treasury S646,SO5
2. Unissued TrtAsuTy notes 4I359S
g. Authority TO ssue new Treasury
.notes 5,0OO,o00
4 Receipts from customs, es. l2 900 900
3. Do fro1 lands, do. 2,5U0,O00
E. Do. from mi sc eIlaneouS
SOURCES 10000
Tolll $2U,73U,4Ol