Lincoln telegraph. [volume] (Bath, Me.) 1836-1846, 1841-08-05
Preac hing vs.. Practice"


The loco focos trying hard to make it ap-
pear, that the Wings after having advocated econ
omy, retrenchment, reform, and many other vr-
tues are now practicing quite the reverse. This
is trick-and vile one too--of the enemy
The people know better How utterly prepos-
ferrous is the idea, that the whole course and pol
icy of the new administration--wh whether good or
ev-can be fully developed, before it is scarcely
begun And yet, the whole loco foco press and
party sending forth their notes of condemna-
ton, though facts to warrant their conclusions,
had actually occurred!
The last Argus, among others, make this
charge, viz &c They 1.-THE Whgs] came into
power as enemies 10 national debt-yet, they
have already contracted one of large amount,
and are aiming constantly 10 increase it, Here
the Argus has the etirontery TO assert that the
Wings hare already contractedG heagy national
debt-an entire and shameful peryersion. such as
any dgnfed editor would scorn to be guilty of,
But hou have the Wings created or contracted'
this debt ? Why, the preceding administration,
after having squandered the entire funds of the
country including the fourth instalment Of the
surplus revenue, (Which ought to have been paid
the States long ago) got authority from Congress
to issue Treasury notes 10 large amount, as the
only means left them of procuring funds to carry
on the projects of the administration and keep
the wheels of government in motion. This pro-
ect of issuing notes, every of common
sense IS aware, is in jact, nothing more nor less,
than borrowing money When the Wing admin
istration took charge, this the posture Of af-
fairs-his was the only view that could be en-
tertained. Treasury notes were in circulation, or
held by individuals against the government to
large amount; other moneys expended by, and
liabilities properly chargeable to, Mr.. Van Blu
ren's administration, had swellcd the liabilities of
that administration to between SIXTEEN and
SEVENTEEN MILLIONS of dollars The true
state of the stands thus: AT the close of
Mr.. Van Buren, administration, the nation
involved 10 the amount of l6 or II millions of
dollars over and above all means at command Of
the then administration and this, in fact,
person will deny, could be more appropriately
termed, or Acknowledged than as 81 national
debt Thus stands the account, up to the very
moment when the wing administration took the
command.
Viewing matters in this light, the Secretary Of
the Treasury, suggested to Congress at the com
mencement Of the present extra session, the plan
of funding, either the whole or portion Of the
liabilities contracted previous to March 4th, 1871.
The passage of the ''I4oan Bill week two
since, by Congress, was effected with this propo-
sition in view, and for this particular purpose
The fact III the case then, is, that the labili
ties chargeablo to Mr.. Van Buren's admnistra-
ton, instead of being called by this name and
that name as persons of different views may
choose, will be hereafter known only /" Ma
fional Debt'-as such il is in fact-and nothing
less Here are the plain facts, upon which the
Argus predicates its charge against the Wings
of . creating u National Debt" Nothing is kept
back-nothing concealed The charge is totally
void of truth The simple story is briefly this -
The Whig administration among the very first of
its measures proceeds ON philosophical principles
of financial policy, to FUND the national debt al
ready incurred, with the ultimate object in view
of paying it off at the earliest moment, after the
necessary measures have been put in operation,
to enable them to do Whether the Wing ad-
mnistration will diminish or increase this debt,
is another question, which neither we nor the
editor of the Argus know anything about 1t is
a question, which requires time to determine
We have entire confidence, that the result will
be highly satisfactory to the people, and benef-
cial to the country.
No 10 4ka
gus charges. Here we have it "They 1.-THE
whigs] came into power as /" Proscribers of pros
crption ''-and have used the guilotining axe, al
ready, to an extent unprecedented in the political
history of the country" Perhaps we do not get
the editors meaning exactly,-but If he means
that the Wings came into power with the under
standing that mere difference Of political ssnti-