Bloomington herald. [volume] (Bloomington, I. T. [Iowa]) 1840-1849, 1842-02-04
s. s 81 .s BLOOMINGTON IOWA. FRIDAY FEBRUARY 4 ls4a
From Correspondents Of the Territorial Gazette.
WARRINGTON CRY, JAN. 10. 1870.

From . Correspondent Of the Territorial Gazette
WAsHlNoroN Cry. Jan. 10, 1912.
Hero is Congress. 10 the fifth week Of the
session; and yet nothing Literally nothing
hasbeen done. The time of the House has
been pretty much entirely taken up with long
tireeome sreeches, made not with the view 81
illustrating or having any effect upon the qnes-
ton under discussion, but intended for home
consumption" for Bunkum." In the Senate.
which Is composed Of diffefen, order Of men.
there is nothing Of this, and therefore that boz
dy Is generally in advance of the House in the
despatch Of business.
The wings Of Congress admit that never be.
fore, in time Of peace and repose, was our gov
eminent 1t so low an ebb as at present; but
they say il is all owing to the course Of the
President in refusing to sign their bank bill.
They ieei that they have brought the country
to the verge Of ruin and bankruptcy and fear
ing that they will be overwhelmed by pnblic
indignation, seek to shift the responsibility IN
TO the shoulders of Mr.. TYLER. No candid
or observing man Of either party believes that
in the present deranged state of the money
market the fiscal institution vetoed by the
President could have gone into operation.-
The stock could no: have been sold. This is
what the Secretary Of the Treasury saws in
his report; and the refusal of capitalists 10
make further investments in government stocks
by taking the 100000 loan authorized at
the extra session is proof conclusive of the
correctness Of the position assumed. "a
burnt child avoids the fire." Most of the
moneyed men of the country have suffered Sc
verely from the decentralization and fall of
the last United States Bank, and will profit
by their experience, and in future seek safer
investments.
The Treasury is without dollar, with de-
mands Of the most urgent character daily aud
hourly pressing upon it. The only resort
seems to be Treasury notes; and the wings
are making up their minds to give their sup
port to bill of this kind, Introduced few
days ago by the chairman of the committee of
ways and means, amidst roars of laughter
from the democratic side OF the House. The
whole country recollects with what derision
and scorn the Treasury note project was treat
ed in Congress by the party now in power,
when, during Mr.. Van Buren's administra-
ton. the government suddenly found itself
destitute Of means adequate 10 its support,
owing TO the suspension of the banks. and re-
fusal TO pay back the government deposites,
amounting to some ten or fifteen millions Of
dollars. No such accidental deficiency exists
at the present time, and therefore there is less
excuse than in the former case. But it is evil
dent to all acquainted with the course Of events
since the 4th Of March last, that unless a
chsngo Of POLICY takes place, a most burthen-
some debt viii! be fastened upon the country
before the arrival of the time when the reins
Of government can be wrestled from the hands
Of the federal dynasty. The withdrawal from
tno IS ehn 1cn ,:sk1
elimination Of the expenses,
but on the other hand unusually extravagant
will yearly leave large vacu-
um in the Treasury, which can only be sup
piled by loans, or what is the same thing.
ent year is estimated by the Secretary or the
Treasury at $4,000, 900.
The House Of Representatives., By MAORI
ty of 81, have instructed the committee on the
judiciary 10 report bill repeating the bank
ure Of the extra session is therefore sealed in
the popular branch of Congress; and the chan
ces are at least equal that the Senate will imi-
tate the example Of the House. The whole
Kentucky delegation in the House voted for
the repeal. as did also that of Tennessee. The
law 10 represented as eminently unpopular in
parties. What will be Mr.. Clay's course is
not positively known; but it IS generally
thought that Messrs. Moorhead, Mangum and
Preston, all Of whom voted for the measure
when il was passed, will now 60 for its re-
peal.
The ExchequeY plan of the President has no
real friend in Congress, although few ex-
press willingness to 60 for il in modified
Mor nd
head, Of the Senate, have denounced it in terms
row called upon the wings to separate them
selves entirely from the administration; and
Mr.. Mangum boldly charged Mr.. Webster
with the authorship Of the report explanatory
of the scheme, and commented with much
ty to the President by which il is characteri-
zed. Webster is politically dead and buried
the great body of the wings here acknowledge
and exnlt att, and are open in their denuncia-
tons Of him. Clay is yet the head and front
Of their party, although from prudential mo-
tives he has thus for kept entirely aloof from
all participation in the debates Of that gladia-
torial arena with which his fame Is 90 intimate
" connected-the Senate. He still pulls the
wires and gives direction to things, although
not seen in the hustle.
The democrats il Congress constitute no.
bic band, and are firm, united, and buoyant
with hope. In the Senate we have men equal
to any and every crises, and of an order Of
talent never surpassed in this country. If any
other. There is Calhoun, and Wright, and
Benton. and Buchanan, TO say nothing Of ma
ny others but little their Interiors! What a
brilliant array Of names. and how gratifying
and heart cheering to the democracy Of the
country the knowledge that they are insepara-
bly, wed TO the principles of Jefferson and
jackson, and sworn enemies to all antagonistic
schemes and measures!