Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1842-11-22
THE NATIONAL TREASURY AND
THE PUBLIC CREDIT.


from the address Of tho democratic
membeTs Of the Massac haseus Leg
islaIure, to their constituents Sepiem'
bsr 1921
The wings took possession Of the Ma
tiORal government in March, lS4l, with
resources of revenue amounting TO $24,-
723, 3,473. They had promised the peo.
pie to carry on the government with l3,'
900 900 year. They found no debt
left by Mr.. Van Bnren's Administration,
but 81 100000 Of Treasury Eo,es out
standing. Every demand on the treasu
~, up to the close Of that administration,
had been promptly met and discharged.
AT an extra session in July, lS4l, Mr..
Evans of Maine, chairman Of the whig
committee Of finance, admitted IN the
Senate that the charge of a 4O,OOO,OOO
debt against the late Administration was
ga mere phantom, humbug;" aad in the
House, July 30th, Mr.. Ada ms of Massa.
chnset,s, declared that "he believed the
mass Of appropriations under that admin
istration (Mr. Van Buren's) was necessa-
nv and that there was no extraVa>
These were the we'll balanced books
which the democratic Secretary Of the
Treasury put into the hands Of the ~hig
successors. How stand the ''new books"
which they boasted they would open! =
Instead Of the promised l3,OOO,OOO, the
Secretary of the Treasury reports that
the expenditures from March, 1911, 10
March ls42. have heen $33, ,266, ,4O3 Al,
uncIuding 100000 Of treasury notes;
and this, too, when the Florida war (as
they s4y) ended, aud tho revolutionary
widows deprived oftheir pensions! Mr.
CLAW has claimed $1,000 as necessa'
~ for The annual expenses for permanent
and ordinary purposes, for which purpo,
ses Mr.. Van Buren's administration re-
ouired bu, $l3 .525, 800, and the esti,
mates for 1912 demand $32 ,79l 900, as
indispensable, and thus demonstrate thai
the wings cannot carry on their govern
ment short oi $30,O00,000! In addition
N his exhibit, there are sDine 9OOO,OOO
Of treasury no,es aAoat, and "A loan OF IL,
OOS 900, making debt beyond incomt
Of 26 6,OOO,OO0, and deict in means IL
Emee, imnedist4 demVnds on the treasury
of $3,25l, 600, r.
Thus. then, stanls the account. The
, who's took the old books, with a balance
! in March, ls4i, of S6,2O3, 900, anda'
estimate for all necessary appropriation
a Co, that year Of S19,250,000. In on
!. wear. on the following March, they ha
added To the 6 100000 outstandig the &C
= ditional debt Of $l4,475,000. At th
/ extra session they appropriated over 8,
a OOO. 900, and at the long session over "a
:. OOO. 600, making instead Of l9,OOOrOO(
n about sc, 600, 900 for these two session
.s alone. And in this dilapidated condtlo
a, of the finances, with an anticipated rev
~ nue from customs of not much over ~
! 600 600, they had resolved 10 Plund
10 the treasury Of,be proceeds of the Pu
Ia lie lands for distribution to the specul
~ tors in the state stocks, while they we
ne irving 10 prevent the President from g
IectiSg any revenue at all, and Provldi
=; M means 10 meet these enormous
"a napdi,ures but the very treasury moi
; winch they denounced under the form
tho administrations, and six per cent. loa
,llv which the ruined. credit of The v. Sta
Car could not get negotiated.
,so. A single fact will show the morllfy
: condition to which the public faith
'ro credit have been reduced bya whig
|, ~ minisir,tion. The authorities OF
Soy. CITY Of Hamburg, which was nearly
: ,o e,roved by FIRE, have recently negot'i
aS. loan of 80, 100000 Of crowns, atSl
mar. cent; while the wing government ot
niss limited States, with all her vast reSoHr
!, "a has been unsuccC Ssluliy huckster'n.
sSce j. ali the money markets Of tho ~orl
: ID. raise loan Of ~ 100000 at an int
with Of 8 psr cent.
baa In lS mQNlba the wings have expe
saav "a Goa. 600 moe Ihau the recs'p'
sieG. creased tho expenses OF their hrs'
-. a,,ay ,ho.a of 1910. the sum OF So,