The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1842-01-28


~.
From The Boston Post
THE PREsIDGN rs MESSAGE. THE FL
NANCES AND THE PUBLIC DEBT.
READ--REFLECT!
The Presidents Message on this topic is another
entire re(ululion of the charges made against Mr.
Van Buren's administration. 1t was affirmed, by
all the wing orators, that Mr. Van Buren, would
leave debt Of forty millions and this was made
the pretext for borrwing twelve millions, to make
up for the eAtravug9nce of The last administration.
Mr Woodbury. denied that there was any such debt
and showed that the resources left by Mr. Van Bu-
rem were sufficient for the coming year.
This fact, and the wing iusehOod AS to the debt,
il now demonstrated. The President says, in his
message, that the iplS Of 1871 into the Treas
ury, for the three first quarters, have been S23,-
iG7 ,O5l, and The expenses of those three quarters
S2l,734,3i6, showing an excess oG expenses the
,hrne first quarters, s 2G7 294. From this deduct
the balance on hand january l, l64i, S9o7,3i5,
aud it leaves but 1922 Geo excess Of expenses over
resources, even with the five millions expended
and appropriated at the extra session, for winch, Of
course, the late administration made no calculation
aud is not responsible. Wi hout that useless en-
phnse to the nalon, instead OF debt el by the
late administration, there would have been without
borrowing doIlar,a handsome balance IN The lrea-
sury Thus the pretended deb, .anishes.
The President farther states, that the whole re-
sources Of lS4l estimating the last quarter VIII be
$50, l67, and the expenses $32, 02o, o7O, by
which it appears that the promised economy Of lh''
whg administration, will result, the frs, year in an
excess of expenses oven means of g ,6ll,903. 1t
also appears that the cost OF wing administrations
III f. i. I,'rty 4,
add The money already borrowed on the twelve
millions loan, viz $5,432 ,126, and the aggregate
(wilhoul including upwards CT i've millions Treas
ury notes issued by this administration 1887 ,lj1-
1906.
Al will remember that it was declared Nh Van
Duren's administration for 1889 cos, S37 l2g.90,
although twelve millions of the public debt funded
and uninnded was paid OUT of that sum, leaving
bu, $50, 962, 797 the expenditures, without III
GLIDING The twelve millions Of the public debit
The wings also positively promised that they would
carry on the government for thirteen millions Ii
year!
Against this exhibit of Mr. Van Buren's year in
1898, Mr. Tylers first year shows over thrly-lwo
millions, aside iron amy payment OF debt, which Is
an excess in the new, over the last administration,
of seven millions Of dollars annually in the cost Of
tho government. So much Tor tho promises OF
wing economy!
Again Mr. Woodbury., in his last report, es'ima-
ted The receipts Iot 1911, at 2i ,123,iI3. Mr. ~
Ter says they will be over thirty millions, which ex-
Ceeds the estimate about six millions OF dollars thus
showing how amply the last administration pro'i-
ded for this and eayimg,hy this increased revenue
enough TO have redeemed all the Treasury notes
left outstanding by the las, administration, ,z.al,-
500 900, aud Il million and II half to spare.
hfr IA al L. "A psli
pcndiurcs 10, 1872, including tie redemption OF
all thu Vrcasuly notes he had iiSued at s23 49,
900. The whs administration, instead ol relrehch-
inG, has run up these exposes tn G3!,OZo,O'u, an
excess Of $S.215O70 over the estimate. VI ms
excess Of live millions grew on, OF the extra session
and three millions more have been ncedlessy lald
nut in the increase expenses III the departments
ia foreign ministers, raised itom lesser 10 higher
grades and other sources of wing extravaganza
thus showing that Mr. Noodbary's estimate was
umpIe, had u reasonable economy been praclced,
and the resources uIl that prudent administration
need have required.
Another statement will show conclusiyely the
flsi', OF the pretended debt left BY the las, admin.
is,ralrn,
We have shown TIN, the wing administration,
thu first year hns expended eight millions mo'e
than was necessary. The wings told the country
,hn MIR Van Buren, left debt Of from Ten to forty
millions, and they mast borrow to meet Il. &c.
curdlngly Congress Authorized loan OF twelve
millions. But Mr. Tyler SAWS in his message, that
they have borrowed but !; ) ,i32,126, out Of this
twelve lions loan, ard ho shows that tho dc.
dicucy in the Treasury, in January, 1872 will ho
but S627sJ57, wihuut borrowing another dollar!
Where, then, was there any dcbt' he eAIra
session expehded just S5,0i3,i05. In Janudry,
4 u d IL, u,ill huvu
paid all up,wl,h present urccs, except the COM
paralivey small SUN Of S627 ,557. Now, suppos.
Ing no, u cent had been borrowed Of the Sc ,l32,
726, on the twelve million loan, and the wings had
saved the country their useless extra session, which
expended S5,Oi3, 7C5, the government would have
been left in january, 1912, according to the Pres.
ident's showing, wih balance against l. Of only
s ,o06,57s. Where, then was this forty millions,
OF ten Millions debt, which tho last administration
left TO the present.
Surely, the people canno, fii! TO see how gross
ly their judgment has been abused in this mat
ter.
| The wings came inon power, alleging the ex-
lrayagtnce Of Alr Van Burcns administration, pro-
missing TO reduce the expenses to thirteen millions
year, and declaring thai they were compelled TO
call an extra session in order to borrow money and
create a national debt, TO pay OFT the debt left by
| Mr Van Buren,.
We'll they have been in power about year and
iheirPresdent now tells them that the expenditures
of the year, instead Of thirteen, will be THIRTY
THREE MILLIONS! and that, with all this in
crease Of expenses, aud the five millions spen, ut
the extra session, he has only borrowed some FIVE
millions, and after all, will fall short about six hun
dre1 thousand dollars at the end Of the year. Where
is that pretended debit We'll might Mr. Adams nd
nit 10 the house, that there was no extravaganza n
Mr. Van Buren's administration, and well might
Senator Evans. OF Maine, exclaim in his seat, when
pushed by Mr. Woodbury. to show this debt, that ii
was nothing but "a shadow, a fragment Of the
brainp
And yet such shadows and such fragments de-
ceived the honest people who believed wing false
hoods, into the change ofan honest administration
for Tppecanoe's!
| Steamboat, called the Belle, from New York
was wrecked during the tremendous storm last Fir.