Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-03-23
YOUR FRIEND ALWAYS.
DEB, Of the Yam Buren, gy,ni,,,,,o,;on

Dot Of the Yan Buren, Naturalization.
The National lntellieencer contains n very spi.
rted debate on the proposition to make a loan to
meet the pressing engagements OF the Government,
and preserve the public faith inviolNtc. The i'm
mediate proposition before the House, was an
amendment offered by the Committee Of Ways and
Means, in pursuance Of the request Of the Admin
is,ra,ion-,o permit the public Stock TO be sold for
whatever it would bring. This proposition provok-
ed the wrath OF Mr.. WISE who denounced il Isup-
posing it enormously to be a wing propositionl rs
the severes stab, which could be given to the public
credit. Denuncia,ion from that quarter Of PROPOSE
ton OF the Administration ITSELF was treated in
proper manner by Mr. Fillmore-who furnished the
written prcofs-thnt the Committee had only acted
in accordance with the wishes of the Administration
See his remarks ia another column.
The debate was continued by MIR Pickens, who
could, with difficulty, suppress his scorn OF the Ad
mini'lration. ut did not become him The saidl TO
sustain the credit and the measures Of those who
had brought the credit Of the country to its present
degradation. When the question was asked, who
struck down their credit he answered, it was the
proaigu,c expenditures of this Government, and the
reckless disposal Of the public revenue from the
Public Lands"
Several other Locofoco orators followed on the
same key-Oll denouncng extravaganza public
deht-the authors OF it, &c.-and ascribng the ex.
listing embarrassments OF the Government TO the
Distribution These gentlemen were all taken in
hand 10y Messrs. VIM. c. Johnsos, Marshall,
Saltonstall and Stanly; who gave point and di-
reciion to the invectives Of the Locofocos, and
showed, conclusively, that the lean sought 10 bo
authorized was simply to pay debt contracted by
the Van Buren, dynasty. Van BIren and his pro-
digal Administration were the authors Of the exist
ing emb'rrassments-They had consumeds mil
lions year more than the reve rue amounted TO-
and had been, luckily for them, kicked on, Of Office
Just Mt the time, when their waste and prodigality
could no longer be concealed, and when it was alb
soluely necessary to make pro sion to preserve
the National honour. As to the proceeds of the
public lands being ordered to be distributed among
the States-producing oil the embarrassments
spoken Oft was admitted that only 100000 had
yet been received from that source, and how was i
possible that that patry sum could redeem 10 mil
lions of debt, including Levi Woodbury's treasar,
notes7 Much money, it was hoped and believed
would be received from the public lands, and dis
tribuied among its rightful owners-but Il NOR
had been received than at any former period
would still have been wholly inadequate to suppl,
the vacuum in the Treasury.
The National Iniellisoncer has the following no
tce of the debate and the gross mpudenee Of Lo
cofocosm in charging the Wings with ex,ravaeanc
IN making provision to pay the debts offs creation
This debate has, as for il has gone on afford
ed food enough for comment, in no merry vein. anC
yet IN some OF its aspects, IN its connexions and /,
conunclions, we'll as its distractions il does fur
IRISH matter for mrth rather than for any Opposite
sentiment. Who but must smile nj this proposition
for an extended loan being opposed, now with ierc
denunciatlon and anon with excruciating raerv
by certain gentlemen who deserve to he es,eeme,
leaders Of the party styling itself "DemOcratici
and styled by others "Locofoeo 7" BY some ofthes
gentlemen an irrepressiblc Indignation is felt an,
expressed at the airocy OF this project for the crea
ton OF National Debt. O.heu, innocents tina
they are, have no name for such g perhdy to VIII.
principles and Wing professions No mortal man
instructed only by the vehemencc of these expnn-
SONS Of sentiment, could for morient suppose that
II - bill TO pay debts contracted ~ themselves tina
the members of this respectable p -iy are dec'aim
jng against. Yet every man, OF Common Informal
ton, knows that the bill now befC e the House I'M
was rqally true OF the Loan Bill nd the treasury
note Bill Of the Extra SESSION. n bill TO provd,
Tor payment, in part the debt 1iracted preyou
10 the 4ih day Of March, 1871. by he late Admins.
uatlon Who can choose but aug ,, when he hear,
tho very party, by whom this delt was contracted
and enIailed upon the country, che reing the Wings
Tor the very act OF providing the Ways and Mean,
20 Fay that debt, with creating National Debt
Happy Tor the country twas It not y that these
same Wings got the reins Of Il hands Of these
great economists NJ the end Of the last four wears
or Heaven knows where they would have landed
as, having cOntrved, during those four short wears
OF profound peace, 20 spend seventeen millions o.
surplus revenue which they found in the Treasury
and TO contract n debt Of some twenty millions o
dollars besides; and, what is the worst of il, without
Leaving anything to show for the enormous expen-
dIure"