The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1842-02-04

PLANTATION of the bill reported on that day by the
same committee, for authorizing reissue OF the
treasury notes to an amount not exceeding hive mil
lions of dollars:
'The estimated expenditures of the first quarter OF
the present year, as appears by the documents
already furnished, amount 10 S6,245,460
The available means of the Treasury in
exceed $500 900
Leaving balance to be provided for
of S3,745 ,4G6
Immediately after our first conversation relative
to the views af the committee upon the subject OF Il
loan as means of ying!n the wants oi the trea-
sury, addressed private letters to correspondents
in New York and Boston for the purpose otascer-
tanning the praclIcablity OF selling stocks to the a.
mount of two or three millions, provided the term
of reimbursement should be enlarged to twelve
wears. The information received was entirely de-
cisve as to the impossibity of obtaining anything
like an adequate supply time to relieve the exist
Ing pressure; and think it may be confidently an
ticpa,ed that, so long as the present state Of the
money market shall continue, the prospect Of bor-
rowing any considerable amount of money IN the
United States Isl quite hopeless. resort TO Europe
for loans will be Indispensable, but the delay That
must necessarily intervene will he such th,, Uness
some other mode of supplying the wants If the De-
n,r,mcnt Ln proyidcd Ly Congress the greatest en-
borrussment must ensuc. Under these circumsun-
ces, have no hesitation in recommending an Is
.ue Of Treaqury notes as measure Of obvious ne
ces,ity.
The precise limit within which the issue slall be
confined is matter submitted TO the better Jndg-
mcnt of the committee. The sum ofive millions has
been Indicated by the Department; and in view Of
,he wants Of the Treasury during the current quar-
ter and the nos,ibIe failure to procure the necessity
loans before the first of May, this sum is believed
not IN he too large.
Intelligence from Europe represents the condition
Of the money markc, in England and on the CONT
men, ns still depressed and negotiations for loans
NAV be attended with more or less delay.
,i,onlI an ogent he sent Immediately to Europe
= rcnort of his negotiations might be expected IN
his country in the course Of ninety days at further
&C, Rnt some time mus, eapse before nm act cnn
mss the two Houses of Congress, and the interest,
Of Government require that, in enecling loans, time
should be allowed to the agent for making all such
| inquiries as may be necessary to enable him 10 OBJ
tain money upon the bes' possible Terms ASsun-
'hs' ''eh' ''u' ,e eAo'' " " Wv o'"i ~ ,",'
'enutIr" "'a c r " '"o h 'h'h f"o
.ni';,'''J ~ 'ui "os ", ,ho dnos or h Trs,
smry IN Inc mcnr,mc il believed to be n measure
dictated by prudcnce'
troa tae UAion Democrat,
So, i, is 'qeirc hopeless to think of borrowing
money 70. >N PERCENT, even if the loan has twelve
years to lrn Thus utterly PROSTATE IL the pubic
credit ur'r .cn months Of Wing management
! he only hope lett Is IN Europe, ana DO these
wise men suppose 'h'' EUROPEAN DahNe's u,' P'u,
n'cu To n"y Any n'o'o h,.I"' SU.Ns JI'' 'V%
ne recN'Ss "'"','"n u, ''' i'',' ~ W.
pacN OF II, Is enons" 10 o''"oy "o P"o''' ''Vo'
WIN al 'ntStenuo,h' r,,.
bu' 'he Na'o"h, Encouragement ".'"es ''e'''o ~
tenW'"y q".u"s io"' i'"'"s "S''uS, " Pul,u
mat 'nc IHsl Ao'''"'ra''o" - 'eSP'"'oo '0' ''''
s'',c VI mus c.n., ,;;,..
VINO ue'''e' "''e' "o"'"'s ,"' "s' "'','"', ,
uo" LOT tHu",rs'"'p, ie", "'ir' y'"' rn', Wv,
i; ;'" Nv NV" ''"'' '''"N''" ~ '"0 f'''