The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1841-07-22

hfsi, aud that only to meet the irregulariiy
OF the yearly income, which was deficient
IN one part Of the year, but was 10 be re-
dundant III the other. What had been the
intermediate history Of the Treasury r.
These issues Of Treasury notes had been
renewed four tlmes--untl ii was LOW grow
lng into habit Of the Government, and il
was high time it should be checked. We
had had outstanding al one time, in 1888,
no less than ten millions in this Treasury
paper, and there remained nine millions oft
stu. Was this no public debt ! Oh, no.
There was no public debt. None at all.
II was this new Administration which was
gong to plunge the country into debit
Something had been said yesterday about
JnggIag;" and many man had luggled
himself 10 this very way Bat we're the
people to be juggled into the belief that
they were not ia debt when these notes
were ont for S9,000,000. Was debt any
less a debt because it had but 30 days TO
run rather than ten years. No; but the
difference between them might be, tina, 10
one case the debt hid itself from yiew.-
Under the system of Treasury notes to
take up Treasury notes, one set on the back
OF another, II was unknown to the country
how much II was i'll debt at any one time.
The debt was kept out Of sight, and the
people were boldly told that there was no
national debt. Aud then, when a new Adj
mimstratlon came into power, and, look
ng uto the actual balance due, proposed
10 settle II IN an open manner, admitting It's
whole extent, and seeking means whereby
10 meet aud 10 discharge it, then il was at
once sad, "Oh, this is the new Admins
tralion that is gong in debt; under the
good old times we were not in debt: but
no sooner do these people get into power
than their first act Is TO plunge the nation
INTO debt y Now, 50 far. the Treasury
note power still survived; loan only went
TO change the form Of the debt, aud, as
Mr. 5. thought, 70 change it for the better
The complaint, N fact, amounted 10 this
f." J ~ DO not do as We did" Well, what
did YOU do pay tie debt No, you did
not. Ii you had, we should no, now have
to provide for paving It. \ ou went in
debt, and leit your debt to us with nothing
TO pay il. That is what you did. And II
the country is in debt under the new Al
mnisifatlon, whose fault is it The fault
Of those stewards who we're entrusted with
the revenue heretofore. They spent all
the revenue, and six or eigh, millions a
year besides.
The whole charge against us comes 10
this, that finding debt on hand, We have
moi chosen 10 issue our notes for IL bu, pre-
fer Ic give bond. What course can be
more open, upright, honest--if the crcdi-
tor Is willing But III the present case
there IS third party 10 be consulted, aud
that Is the people Of tie United States
We are for doing what is right and just
and doing Il IN such way as all the pep
pie can understand. Here Is no fogf 10
ny flticaiion; We speak plain Engllh that
an eau understand and the pcoplc viii be
able 10 fudge, at the end Of tke period for
which, the bond has to run, Sh.ch course IS
the most manly and the wisc~t.
M. :. s9ld he had il ia view when he
the gentleman from South Carolina Mr..
pickensl which, on account of the prlnci-
piles they contained, were OF umch more
consequence than the fate OF abe bill. That
gentleman was in the habit, on all occa-
sIons, Of gong back to lrst principles, as
he understood them; principles which,
traced 10 their consequences, struck at the
root oil the Union, and a the perpetuity Of
the Constitution. The gcntlcu4ns doc
trincs went to sap the principles on which
alone this Government could be admins
tered If the gentleman was correct, the
Constitution ough!neycr to have been franz
I'd ; il IS not On instrument III to be adopted
10 the Government Of this country and
the Union itself is founded in injustice, and
Ought to be dissolved. What was the gen.
tleman's doctrine, succinctly stated As
MIR. 5. understood HIM, il amounted TO this
that all taxes ought 10 be expended where
they are raised.
The above extract from the speech Of
Mr. Sergeant upon the Loan Bill, exhibits
the humbuggcry that the locos are striving
to play off upon the people, relative to the
deficiency in the Treasury. So long as.
they could issue Treasury notes, the peo-
pie did not clearly see the debt that had
been actually contracted by the Govern
ment; oh, no, il was not a public debt it
was only an issue Of Treasury notes Well
now was not a Treasury bill a promiSsory
note did not the Government promise to
pay the holder! Tho Wings wish to bring
it into n tangible shape; they wish the peo-
pie to know openly how much the Govern.
meni is in debt they wish no manner Of
deception played upon the people, to keep
them in darkness: they want every thing
PLAIN and open.
Lusus NdfurG-S iagulor Birth at me
Washington Aimhouse. On "Wednesday
last Dame Nature played a curious freak
in one Of the enclosures, near the Wash