Southern pioneer, and Carroll, Choctaw and Tallahatchie Counties advertiser. (Carrollton, Miss.) 1840-1842, 1842-01-29

dent states that "at our first -
we were not without creditp announcement
else period he refers to, BY the ex ~. what pre-
commencement" Is not exactly t nelon "our
by it, the first session OF onoros ""owh, but if
we think he is mistaken Il tho ' 6 g intended,
Of Congress, compliance with The a' ,. session
which three loans had been negotiated Se TINS on
fused, and by the same Congress tho wa, was re-
thorising the five million loan wac Jaw as au-
The commissioners attempted its ne,a risseO'
in the United States, and were me, as n" "NOa
set with the declaration that no loan conIa UIE
obtained until faithful compliance with ~, Te
terms of the former loans had been given ''o
Here then was the national credit shat
at once, and it never has recovered from -.
shock. Succeeding events consequent pnos ny
1T, have involved it still more, and like the i
solvent merchant whose paper has been nro
tested, the paper first shared has been sucs
he'on to fragments. The postponementof thepo.
vernment liabilities for liquidation to a distsO,
period, is the most sensible recommendadon
IN the whole document, but the idea of new
issue of 100000, based on the security of Tho
Cherokee lands, with questionable title is too
glaringfy absurd for one moments considera
ton, and seems to meet with universal con.
domination. The idea, too, of loan of $500.
UOO, based on lands as security, meets with
little favor. The collection of the revenus
under reduced system of taxation and i'm
post duty, payable in gold and silver. is oooj
and perhaps 1t might be anticipated bv an iSOra
of drafts on the treasury at six months L",
redeemable from the revenue which SboUIJ
stand pledged for it, provided there was cor
tainty that such drafts would not eyceeJ a.
revenue.
The want of means TO carry on the sunc-
tons of the Government, is matter on which
his Excellency dwels with much force. and
we do not doubt it has placed him in seriops
embarrdssments, and will yet subject him 10
still greater difficulties. The Goyernmen,
cannot be sustained without money, and there
is not dollar in the Treasury We are in.
formed that it is very probable there will be
no Supreme Court held at the coming term
the judges being unwilling to attend unit
their salaries are paid. The prospect of the
present members of Congress is, that they
will return home without any money for their
services, and if they do not devise some plan
Tor raising money before the next session, we
may not be able TO get another together. The
crisis is fearful one, and TO extrcate the ma.
ton from its present embarrassed condition
no matter by whom, or from what cause we
have been placed in that condition, demands
the united energies and concentrated talents,
not only of the "powers that be-" but of eve
ny true patriot; and although we were not
among those who assisted in the election of the
present Chief Magistrate, (and we see nothing
in our course in regard TO that matter. either
TO regret or condemn,) yet we trust we shall
not be found far behind the foremost in adyO.
eating all measures which he may propose,
which we think calculated to promote the per.
manent welfare of our country. 1t is mea.
sures we are concerned for not men.