Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1841-07-23
THE NATIONAL DEBT.

Ihe following statement from the National
lntelligencer exhibits the amount of the
NATIONAL DEBT which Van Buren,
contracted during his four years Admnistra-
ton and left for the Wings to pay. What
confidence can the people of this State place
in party which, like the late Administra-
ton party, after having squandered the enor-
nous revenue of the GovcIomen. md ,.voiv-
cd the country in adebt OF nearly TWENTY
MILLIONS OF DOLLARS, turns round
and abuses the Wing Administration for bor-
rowing the money to pay it?
THE FINANCIAL QUESTION.
1t seems to us somewhat surprising that there
should be such diversity of opinion as TO the true CON
dltlon OF the Treasury when that condition is sus
ceptible OF such easy illustration the following:
The amount of Treasury notes unredeemcd by sci
Element OF accounts, and therefore OUTSTANDING
(debt,) on the LIST January, lSil, was 81, g66 Sl6
The amount of outstanding appropra-
tons (ldbihtieSD on the LIST January,
lS4l, was Il, 306, 265
The actual amount Of debt and liabilities
on LIST January, lS4l, was Sl7213OSl
The amount of appropriations of all kinds
made at the last session of the twenty
sixth Congress for the service of the
year 1871, was l9,7l9O95
The actual amount Of deb and liabilities
oetreen LIST January AID 4th March,
rh lsli, was . ss6,99?,l 76
LIST January. and 4u March, 1871, in
GLIDING the balance in the Treasury on
the LIST January, lS4l, as appears by
the Treasury Report of I'd June, and
including also an amount received from
the Bank OF the United States, was s,927727
Which, deducted, slaves the amount of
debt and liabilities on An Of .Narch,
ls4l, 33O6i. li9
| This amount is ciargcabe upon revenue
| accrulng and to be received after 4th of
March, l64l of which it is estimated
! there will be received between the 4th of
| March and the end Of the year, (per
| Treasury ReportD H,67oOOC
Which, deducted, leaves the probable n
mount of debt and Liabilities on LIST
., January, 1912, sls,S9i,44o
To which should be added for interest on
| Treasury notes redeemed during the
! year, probably 300, OOC
| Making the sum of Sls,694, AS
This sum will be diminished or increased exactly as
the revenue which may have been received between
the 4th March and 3ls Decemberlshall be greater oil
sss than the amount estimated. Now whatever por
ton Of this may be required to be met during the veal
| lSil can only be met by borrowing money, or b,
| Offering payments by means of Treasury notes.
| 1.-THE appropriations which may be made at the
extra session not included in the foregoing state
ment, but must be added TO make the true aggregate
for the entire year.
To pay this enormous debt contracted by
the late extravagant and proAigate admins
tration, the House of Representatives ha
lately passed Bill Of which the following il
the first section, and which was opposed
with rabid ferocity by every locotocp mem
Der of the House
The President of the U. s. is hereby authorized a
any time within one year from the passage of thi
act, to borrow the credit of the U. S. any sum no
exceeding twelve millions of dollars or so muc
thereof as in his opinion the eXlgences of the govern
ment may require AT n rate of interest payable quar-
terly or sem-annuay, not exceeding SIX per cent pc
annum, which loan shall be made rembursable eltho
at the call of the Secretary of the Treasury after 81
months notice. or AT any time after three years iroI
the first day Of January next and said money So boz
rowed shall be applied in addition to the, money noN
r in the Treasury, which may be received therel
from other sources to the paynient and rsdempuo
of the Treasury Notes heretofore authorized, whc
are may be outstanding and unpaid aud 10 deira
any of the expenses which have been heretofore,
which may hereafter lie authorised by law, and whic
6 stock shall be transferable only on the looks Of tn
u Treasury.