The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1841-01-12
FROM WASHINGTON

The following extract Of n Letter to tho Boston
Atlas, dated Washington, Dec. -, gives some IN
terestine remarks Of JOAN @. ADAMS upon the man
ner tho Finances OF The government have been
managed:
The chairman Of the committee on naval affairs
Francis Thomas OF Maryland-had moved that
the House resolve itself into committee of the
whole on the state of tho Union, for the purpose Of
considering the Naval Pension Bill. This bill has
been often referred TO during the present session of
congress as one necessary 10 pnss before the first
of January.
MIR Adams forthwith commenced an exanlna-
ton Of the conduct Of the Administration in regard
to the Naval Pension Fund, and proceeded to make
some remarks to the House, which he had design
! ed to make as long since as last June. have but
time to glance at some of his important posi-
tons. You will see ia IT they place the Presdept,
his Secretary Of the Treasury, and his Admnistra-
lion, IN any thing but favorable light
First then the bill before tho House proposed an
appropriation ur $l5l 200, to meet deficiency in
the Naval Pension Fund necessary to meet the an
nual demand upon the Treasury This sum after
due Investigation, had been repottcd as necessary,
! both by the committee Of ways and means, and the
committee naval affairs. But mark ye The
Secretary Of the Treasury, in his estimates of the
necessary expenses Of the Government for the year
to come, makes no provision monlion of This de-
fciency. And while in the annual report of the
9Th Of December, he says that no money should be
appropriated not includrd IN tie ESTIMATES IF the
Department, in a special report dated tho first, he
says the appropriation will be ssary. This is
! Levi Woodbury. and over again."Appropr tate
nothing without an estimate" says one report, and
"you must appropriate $4,000, to preserve the
faith ofthe Government" says another.
Another fact pointed out by Mr. Adams was this.
In June last, the Pres ident solicited at the hands
of Congress, FOR This very Naval Pension service,
the f$50,00 Congress, in the hurry and
hustle of its June Legislation, paid no attention to
The call Of the President, though the appropria,
ton was necessary. No appropriation was made,
and this lack OF expenditure for this purpose af
fords the text for one of the Presidents beautiful
sermons upon economy, debt, &c, &c. Had the
Presidents wishes been complied with, the money
would have been appropriated and expended; but
not complied with, the Executive says to the coun-
try, "Behold that which have DONE in reducing
the annual expenditures of tho Government to be-
tween twenty-sIx and twenty-seven millions of dol
Iars!" This is but example ola common occur
renee.
Another fact brought to light by Mr. Adams, is
the important one, that in 1897, the Naval Pension
Fund had accumulated 10 the immense of
t,ociDe hundred thousand doUa,S! Now il is ex-
hausted and it is to meet the deficiency, that tho
bill to-day before the house introduced. From
! 81 300 000 the fund when Mr. Van Buren came
into power, go to nothing, Or less than nothing,
upon the of Mr. VanI3uren s retirement. "A gain,
in 1887, the chairman Of the committee finance
in the Senatc--the then now--Silns
| Wright-rccomn,ended that the accumulated fund
should be invested in State Stocks. His rccom-
menda,ion was based on n prior recon- ondation of
the Secretary Of the Treasury! The recommends
ton complied with, and the consequence has
been that the stocks which Mr. Woodbury. bought
at premium of6 per cent. he sold, l8 months af.
ter, AZ per cent minus their par value, and at all
rates from $62 to $l06 The investment of Ind.
an Trust Funds has been upon similar rates. The
loss, of course, is tho Governments, which is
pledged to keep good the principal, and pay an an
nual interest upon the amount.
MIR Adams, in his most emphatic manner, also
gave the history of tho Smithsonian bequest, and
introduced his remarks upon that head with some
appropriate illusions to the facts Of the annual re-
port of the Secretary Of the Treasury, and Message
Of the President, which refer to the subject Of
State Debts. 1t has boen said, also, and by the
|
ence upon elections. Jf it true the Presi
dent, in his own election, had gwen the only ex-
empIifcnuon of the fact.-Tho facts connected
with tho reception Of and the disposition of the
SmhsonianBeq were follows: The money
which was "Bri,ish Cold real sovereigns, had
not been three days in the Mint before it post
ed off to Arkansas, and used in making n Bank.
The half million of foreign gold went to Arkansas,
and Arkansas gave the General Government five
bonds OF one hundred thousand dollars each. Ar
KANSAS had given her electoral vote to Martin Van
Buren, The inference, if tn "British Gold" hum
bug WINS true, was plain. The ExPrcsident also
gave history of this investment; and it as
/ eoon as The keen.sccnted Representatives Of The
| stale Of Arkansas in Congress fund out that the
British Gold" was in the Mint, they had orders
tackled ON 10 tho Yves, Point Bill, authorizing the
Secretary Of :he Treasury to make the investment
which went first TO Arkansas, and there
Vsried into those madein monsers,-a Bank-a
Bank, too the capital Of which was bona tide "Brl'
ish Gold" Think Of that, ye unsophsticated Lo-
cofocos.