The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-02-09

thorizes FIVE millions Of Treasury notes to be
issued by the new administration, in reality au-
.thorizes not more than two millions; an amount
which would not last more than a month But
at best i is only borrowing of Peter topay Paul,
not knowing when or where they can procure
the means to reimburse Peter. Is this perma-
nent, provident sensible craftsmanship Is it
more than postponing their own debts for Gen.
Harrison to pay without means2
Beyond the embaTassments Of the Govern
ment ITSELF look at the condition of the country!
third time since Mr.. Van Buren, undertook
the administration Of public affairs, have the
banks suspended payment--a third time has
all confidence been dissipated, and disaster and
confusion, fallen like pail on the circles OF trade
and commerce. We have seen an hundred mil
lions Of banking capital struck out Of existence
within the last few years, and that which exists
confined mostly TO the vaults of the banks. We
have seen the channels of industry torn from
those natural conjunctions and mutually Deepen
dent relations, which are essential to tranquility
and prosperity We see mutitudes petitioning
for the benefits of national system of bank
ruptcy We see the public stocks sinking TO
comparatively nothing. We see a majority of
States themselves struggling in debt, and in
some cases absolutely threatened with bank
ruptcy Even Virginia, remaining comparative
ly passive, we see seeking a loan to pay her cur
rent expenses. As for American credit, at home
and abroad, il has received shock from which
scarce half a century will relieve il. Nor is this
paralysis confined merely to our fiscal and com
mercal affairs. II extends to our arms and de-
fences Our Army is nearly wholly absorbed in
the swamps Of 'Florda--our Navy is but spec
tire on the sea, while in scarcely an instance are
our coast defences in a condition to repel the in
vasion Of an enemy Great Britain knows all
this, and hence seiZes and searches our vessels
with indifference, pushes on her settlements in
Oregon with impunity and laughs at our de-
mands upon her to settle the Northeastern boun-
dairy of Maine, and the Northern boundary line
Of Wisconsin. Have we no sagacity, no re-
sources, no patriotism?
1t is in the power Of Congress to restore conf
dence, regulate the currency, lay tax for ade-
quate revenue, pay off the public debt created by
t'ii' al DuiSH, it-uuIuisu IepleDlsn our
arms and ammunition, maintain our national
rights, and re-animate the Republic in such
manner that, ifranquility and prosperity are not
fully restored and maintained, it will be no fault
Of the Government. Will Congress do it this
session?
The way for beginning at least, to accom-
plsh some Of these benefits, is clear II is as
clear to the present Congress as il possibly may
be to the next. If it is not seen and pursued, it
is to be attributed to the blindness Of faction,
and the perverseness Of Loco -focoism.
Past experience admonishes us that little
is to be hoped for from the existing Congress
much less can be expected from the present Elk
ecutive. The will of the people cannot be ex-
ecuted until both these distractions have passed
away. The moment they are removed, there
fore, is il not proper that immediate steps should
be taken, to give to the country as soon as pos
sible whatever benefits are to be derived from
the great and radical changes in the men, mea-
mures, and policy of the Government which the
late elections indicated
1t will be for President Harrison and his Cabi
net to determine whether an extra session should
be called. We have no doubt they will weigh
well the arguments for and against such step.
And if the Inconvenience, the expense, and the
danger either of preciptating legislation or Of
doing nothing, with other reasons calculated to
raise doubt, outweigh those which grow out Of
the necessities Of the Treasury and the expec-
tations of the country, then, we trust, indeed
expect that no extra session will be called But
if, on the contrary, the condition Of the
Treasury, the burdens Of the Sub Treasury OPP
eratons, the state ofthe currency &C., &C., &C.,
are found TO require new legislation, we cannot
doubt but that Congress will be convoked at an
early day. For ourselves, we are content to
leave the whole question to Gen. Harrison and
his Cabinet, in whose justice and wisdom we
have entire confidence, and we are disposed TO
leave their judgment to be made upon the facts
and the reasons they shall discover for them
selves, without any reference whatever to news
paper opinions.
The following exquisite specimen of delicacy
and modesty is genuine extract from speech
of the Hon THOMAS II. BENTON, actually de.
livered in the Senate of the United States few
DAVIS apo and nublisb in The C,lobe If Satur-