Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1842-12-22

tANAA+tAL OSCILLATIONS
AlslleE IRON 81 ci6cer Of he u. S.
ship Boston; dated Macao. JADE 25,h.
speaks 81 ihe diiicplty Of disposiDr o.
Idralll on The Ameriean Government, 10
meet The pecnniary wants 81 inc squad
ron. Merchants bilIs. " says The writer.
are ceiling aiaik g. 40 he dollar. But
Englnh cspissli,is si1hsinely oFsr 10 take
those drawn Sn. The Tinted States Co
sernment Il 4 esef n. The dsllIr.
The embarrassed Sondilion 81 HE ~
Iiienal 6nsncesi 10 which Mr. Vsh Buren's
DISSATISFACTION lsil ihe Government bal
mot been vss retrieved. becsuse 81 ths
unexpected obstacles which interposed 10
preseBi The adoption Of a proper system,
lol policy. The device Of Treasury notes
~ sniielpaiion Of revenue and 70 supply
dehs'eneiss Of revenue began under The
late administration. Instead Of providing
aetsal means 10 meet The wants Of tie
Goser1neni recourse was had tb the al
laeious scheme Of credit issues hy which
iempofary Inconvenience were removed
Eat the.sx9ense Of future responsibility
|, woOld not 20 10 increase the revenue
By al Increase d discriminating duties
oecauss Mr. Calhoun aud bis party were
70 Be hAmcured and KEEP: in support Of The
administration. which without such aid
would have been in minority 10 1857
A system ofishiiis and expedienis was
lhereIote pursued: and While ex,rasaeani
expenditures dissipaled he public money.
the exhausted Treasury was supplied
from lime 70 time BY issues Of Govern
meni paper.
Thus. The succeeding a6ministraiiun
found az lis heritage an embarrassed Tsea.
sury. with an actual debt 10 exislence.--
If The Wings have moi succeeded ID 10.
storing HE national credit from lhe pros.
rate condition in which they found il.
lei the fault be aseribed 10 those. re arka.
Bile occurrences which have rendered the
present administration proverbial in the
annals Of political treachery. ,
Mr.. Tyler's Exchequer proposes ne y
issues % The credit OF The Government
a credi. WHICH unable 10 sustain itself Is
little calculated TO bear extraneous bor-
dens. An additional cebt Of fifteen mifs
liens is proposed as the means ofpayiHg q
still larger debt already created Or, 10 the
words Of the Message. the Exchequer
proposes TO do no more than TO pay the
debts ofthe government. with the redeem
able paper of the Government. The
basis Of the ExchequeI issues is TO Be
found 10 government stock; thus one spe-
cies ofredeemsble paper is TO BE secured
blythe guarantee oil another. Thus the
poor man Of tile anecdote who. being much
dunned BY q creditor. gave his note for
the amount. thanked fortune As he put His
name TO the paper, that The debt was paid
at last.
The statesmen who would redeem The
coultry from ils humiliation must make
upEtheir minds 10 strike out holder line
Of policy than thai which marks anyede-
vice Of mere Temporary expediency ~
They must be prepared TO risk popularity.
IL il should be necessary for the sake Of
doing permanent good. Al oil events a
Substantial basis must BE found before the
suPers,ructare Of any financial .ysiem
can besafe. If the practice Of staving off
the obligations 81 one year 10 be met BY
the provisions Of The nex;is 10 continue,
The accumulation Of indebtedness. may 60
On until national repndiaiion shall con
sunmaie ihe disgrace OF national discred.
i. But whether that ealamitous result
shall come or not. il is plain that The. lon.
ger resoluie graphing with our diticuI.
lies is deferred. the heavier will Be tbs
burden that will gather upon our shout.
ders. and the harder he sacrifice lhat.will
be u last required 10 remove il,