Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1841-01-05

: .
re assouui gsrchss~l h.s teen y,ssed 70 he
stbsfsl credit Of he Trsssurs accounts, an
ne ros; 81 stocks iuf iigcif iavrssrlcni has
bcen charge un thc o'hst side As mater
81 sccgufs sr5 WA .krrfiug MS might 10
ibgagss rrfrrst - u ulcia n.a. bot inr W.
sss3 he uippg'l o. would have bccn icurf 90
kcep = separate accouut 81 iD'iik thus heli in
trust. ~ csrfs private individual d..cs. Who "
made sir1s,s ~ ihc iultfe.i Of p'h.rs "
tho he't wc;c a. 10 htd gaiiefed tom the re-.
fsou sabfurci 70 Irngress. hc'c we've three a.
foUt hundred thousand duliirs q she jrts; fund
moi inscyed. snA which roman vet 90 Ne in.
sesse3 ~ ihe ben-hi Of ilese lnd,,n 'ri'cs
A. ~ ;he tales ~ whirh tie siorks hal been
pufclAAsel !. mr. W. ssij be fyunl that crusin
.AlsbAma supcks bad lvci bought al rsiinus
and remarkable rates Of pre- piYms These
we're .iaiei pith some Particularly hy mr.
W,-bgi in this lssiy sketch, The reporter
cannQi undertake 20 give them. hui vi T.. II prac-
ueAb.e. prepare a note ofihem ior another day !
We have treaties with nuui e. ufuics ri
tbed within late yesrs lssid mr. " by which
we stipulated "a invest the proceeds Of these
lands Ia storks OF a petmenent kind bearing
r,ierest We arc indebted. therefore 10 these
Indians ~ tic Whnc amount we agreed n pay
fcr these lands, which have been 4 nsfsrsA 20
%. surveyed, pot in market and larse lrions
4
posod o. We pruin,s~d To- invest the pro-
rre,'s or lhai- ,cnctiI which has not been
doN Isead Of asking ~ money whcrewilh
80 purchase u.ese stocks. the Treasury IA.
been cnnieu'ci ~ ask Tor The amount Of inter.
est only holding the United States debtors io
the Indians. whereby debt 20 all inien,s and
purposes, 10 the whole amount Of his irus,
fund. 8 created, and j, is.io be added 10 the A.
mount Of debt due by The Government. do
not say It must te paid to-day or tomorrow,
bu, It IS an outstanding debt the Government
IL under undischsrpcd treaty Obligation 20
srsise tic money. and with 1t 10 buy stock for
the benefit The Indians
Aner pointing out some DISCREPANCIES In the
Treasury reports in regard TO these invest
rnents, mr.. w. went on 10 the consideration OF
other outstanding demands upon the Treasury
That there are other debts in an unliuuidaied
state which must soon lie provided for, (,aid
he) no one doubts debts for public works. |
debts Tor the war in Florida. clairs Of indem. |
ni'y for Indian spoilaions and ifhalf OF what |
we hear be true, the amount of these colec- |
i've Obligations cannot but be large
Here, then, understand there is a heavy |
oebs hanging over the country, consisting Of
various items-some for borrowed money,
some TO meet Indian treaties. and others TO paw J
claims and accounts not vet liqudaied-all Of /
which must be provided for and taken into con
alteration IN any fair estimate Of the WAYS and /
means.
agree with all that is said in the message :
as 10 the great inpolicy, IN time of peace, of
commencing public deb, but il seems ,o m. !
rather extraordinary and inappropriate in the
President 10 admonish others against such a /
measure, With all these facts Immediately be- |
fore him.
Mons doubt, in point Of principle or expedi !
ency, ~ TO the creation OF public debt wheth- !
81 IN the form OF stock or treasury notes bear !
ing Interests and renca able; or il there be +.
nv difference IN point of cxpedency, none a, |
least can entertain any great doubt which of
The two ioims is best. Treasury notes are
70 tainly not the cheaper Of the two
Now we find the existence Of this public !
debt as early as the existence of the present |
administration itself II began at the called |
session in September. 1897. From the date
81 the first treasury note bill, in September /
1887, there has been no nomen. in which the |
government has not been in debt for borrowed |
money. The secretary SAYS that il is not ex-
peoteu mat the treasury notes now out can be
paid OF earlier than March 1912. In what
over soh words he chooses 10 invest the mat
ter, the sum and Substance is this that there
must be new issue of notes before the gov
ernmen, can be freed from embarrassmenis
must confess that II seems to me tina, the
scope and tendency Of the remarks in the mes.
sage do go reproduce an erroneous impress.
sion. Here are seres of very strong sen,cn.
ees against public debt, and al said in the
lace OF debt already hegun, existing now. L
and under such circumstance. as creaied the
iear That II will turn nut TO be very large one.
We kno" That these various outstanding
ehatees cshnoi, or al least will not, be brought
together and presented in one Aggregate sum
IL Il, /
tins document 10 foresial public opinion, 80 Is
when II shall appear that there is public debt.
70 give 10 II date posieIlor tn the ith Of March
merit hope not. DO not inpue such
aeslgn 30 FAR however, as ! am concerned.
snail take special good care To proven, any
sucn result. shall certainly recommend that
mere be a new SET OF books opened thai there
oe what merchants call "a rest" That VIVA,
IS collected prior to lsil, and what is eNpen.
oed piior to ISL, stand against each other: 7
81 mat 1t there shah appear balance in favor a
OF WIS administration. II may be stated; and If !
me result shsl be that the administration !, !
lef IN debt, lie, that debt appear, and lei !, mo
denominsied 'ihe DEB, of 1871" which il viii a
oe 'he duiy OF Congress TO provide for
In enc or two other respects the message il
CALCULATED 10 create quite an erroneous impress 5
Noh' IN the NTH page The president speaks 9
on me sGojeci OF the treasury notes IN as mlti-
gated tone as possible, and tells u. I.t that I
ms ,mall amount slll outstanding j. com J
POSED OF such as are not yet due" | suppose
We all knew that; aud then be adds thai ,bey i
are teas by twenty three millions than the L.
. nave on deposiie with the siaies" ask l
Wv sehate' shd would, # could, ask The =
President, whether he means 70 recommend 10 I
congress 10 withdraw ,hc deposiles now in he 5
hands Of NE States to dischsige the debl on 6
treasury no,ss' Do the administrator look IN c