The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1841-08-06
A DIFFER ENCE.

In the course of Mr. Benions remarks on the
loan bill, he affirmed in illustration OF the tendency
Of the wings to extravaganza, that the democratic
administration if it had continued, would have gone
through the current fiscal year without asking from
Congress an additional dollar. In proof of his as
serlon he appealed to Mr. Woodbury. the former
Secretary of the Treasury, who confirmed it, and
gave him a written statement to that effect. Yet
the wing party, which came into power partly upon
its promises of reform, confesses its INABILITY TO
conduct the government without loan Of twelve
millions, old reasonable treasury notes to the
amount Of six millions, tariff designed to raise
eighteen millions, and standing balance in the
treasury of four millions, making in all just forty
millions of dollars, which it holds to be necessary
10 the easy working ofthe governmental machinery.
This, however, is mere pretence. There is no
necessity for any such sum. All the necessity that
exists, the wings have brought upon themselves by
their foolish promises. They have hattercd so
great number of interests and men, with hope
that something would be done for all of hem--lhat
each one should have his sop-that they are now
obliged to lie to maintain their regulations. They
would escape from the consequences of impru-
dence, by bringing upon themselves the conse-
quences of falsehood and improvdence, As the
old saying has it, they jump from the frying pan
into the fro.
We find, according to the report Of the Globe,
that Mr. Benton has prepared two or three tables,
which set this matter in the cleares light. The first
one shows, from Mr. Ewings report, the amount
Of money and available means which Mr. Van Bu-
rem turned over TO his successors, the fourth of
March last 1t is as follows:
l. Balance in the Treasury tha, day $6l6,sOS
q Unlssned Treasury notes under the
old law 1852
8. Authority to issue new Treasury
notes 5000, 900
A. Receipts for customs for 0 months IL, 900 600
5. Receipts for lands for ten months $500, 900
6. Receipts from miscellaneous sources 100000
Total $2O,7 800
Here then are twenty-one millions of dollars of
which the wings had the disposal in the course of
ten months.
The next table. showed the amount Of money
raised or attempted TO be raised for the support and
comfort Of the new administration, and is thus:
l.. Loan in the Bank charter 100000
2. Do. in this loan bill of,welve mil
lions, the interest for which would
be two millions one hundred thou.
sand, ana the expenses of collect
ing the money from the people, 10
per cent more: making in all l3,5O0,000
3. Re-issuahle old Treasury notes 5000, 900
4, The tariff bill, placing 20 per cent
on all free articles, and all articles
under 90 per cent and which, with
merchants profit on the duty and
other charges, would add 80 per
cent to the duty and make it more
than so. Tins, 10 raise ten or
twelve millions for the Govern
inent would take 10 or twenty mil
lions from the people; say 100000
5. First subscription to Fiscal Bank,
ten millions, with interest for 20
years. 10 millions, and 10 per cent
on collections 22,OO0, 900
g. Second subscription increased ca
pitnl l-2 millions, interest the
same, and 10 per cent. for costs
of collection, &c. 1888 1893 l-2
7. Third subscription in lie of def
cient private subscriptions, II mil
lions, interest on the same, and 10
per cent for raising it out of the
people 24,OoO,oOO
90 /