Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-03-08
Total
Sll2O763g1

An average of TmKrY-FwE MILLIONS FIVE HrypEEp
THOUSAND DOLLARS annually.
Upon the adjustment OF balances the accession of
Gen. Harrison the Presidency il was found that there
was an actual deficiency in the Treasury Of TWENTY.
FOUR MILLIONS Of DOLLARS; and that this def.
cheney was concealed from the public previously by the in
sidOus method Of posPoning debts actually due and boz
rowing from the resources Of year pay debts of
preceding year This practice was kept up during the
whole tenn Of Mr. Van Buren,, aud the purposes Of con
cea!ment were the better accomplished by to Trea
sury Notes instead Of loans.
Mr.. Woodbury. and Mr.. Calhoun have both conceded
(what, indeed, they could well deny that National
Debt existed, the 4th March, lS4l 10 the amount Of
the outstanding Treasury Notes upwards Of Five Millions
Of Dollars But these gentlemen carefully avoided refer.
ence to the deferred appropriations made by Congress,
which, with the outstanding notes, sweed the debt up
the amount we have stated, 81, 100000 Indeed, Mn
Charles J. lngersOl, Of their party, acknowledged in
an address TO his constituents, that the debt Toenf
TiDO Millions Of Dollars
The items OF this debt however are concusiyely set
forth in Report OF the Committee Public Expenditures
OF which MIR. Menwether Of Georgia the chairman
during the winter Of lS4l-'2 The correctness Of this re-
port has not been mPeached from any quarter We sub
Join abstruct;-
Indebtedness recorded IN Treasury Department.
Treasury Notes, As 2s3 sal
Debts due in Holland, l44OOOO
Funded debt vi late war 900 55t
Unanded debt, 36,297
Those two last items were contracted during the late
war
D'bts recorded in War Department.
Amount due twelve tribes Of Indians on which the Govern
nent pays an interested Sl3l 900, -, $50, 900
Amount due Chippewa and Ottawa Indians, 10000
Amount due several tribes IN trust and ex
pended for use Of Government, 100 35s
Amount due Florida militia, 3I7.6Jl
Amount due Georgia do. 1896
Amount due State Of Georgia, oU7 600
DO. do. Do Maine, 2DU 0DO
Those -four last items, amounting 10 H,ar million Of
dollars, embraced in bills which passed both Houses
Of Congress the last night Of Mr. Van Burens term Of Of
nee but too late 10 receive the signature of the Speaker
but they have since been provided for by Wing Con
gress.
De5H yseorded in Post Caee Department.
Due arearages to cOnuuctoB, % 1893
Due contractors beyond means. S3j4ggU
Debfs rseOTdsd in Nary Department.
Amount Navy provision fund used SIIl369-
Actual deficiency Of means u meet the uppro.
prauoas made by the Congress which ad.
Journed March 3, lsll, and previous Con.
crosses sl2OsO,22l
s2I7lg.OO
Here, then, debt 81 more than TWENTY. -FOUR
MILLIONS Of DOLLARS, every cent VI which WA.
contracted before the 4h OF March lSi1 and some of
which, IN despite Of the difficulties encountered by the
wing has been paid of since their ascendancy the Ma
uOna Councils.
And ths dimnuhon Of the public debt, 1t should be
Iufe remembered, was accomplished against continued
suugge 81 iucuOus Opposition, who, throughout nearly
c whole pcnod oi the Extra Session. only spoke for
days and even weeks against all regular for the
support Of the government but actually voted against near
s the appropriations In Which they their constituents
Bot the wOrstOi the evils under which the country labor
%, was not merely be- the creation Of a National Debt
(which our adyeraues falsely charging upon No
and ~ acous resistance all Tor the payment m
That debt; but u o. be found in calamity which years Of
prudence and setdruia scarcely alleviate. We mean
\ the widespread and desolstng effects Of
DERayeE2ryr o. rHE CurRFycy.
The war upon the Bank, and final overthrow Of that in.
sniuion was one u the great and distinguishing incidents
/ 4" ue Jackson era, and that which we are disposed
nsy o. "scrbo the long train of evils and disasters n
"tleh We county has since been cKpDscd On the ruin
" '' one ro-e several hundreds Of similar institutions; 10
tP'cs ~ - millions, upwards q 200 millions Of banking
CP,l was egslttd into existence; q compcuaate the
~nnoTawal o. ne 10 OF ~ millions Of circulation more
'h luo millions Of p1pcr, issued by Heu banks flooded
e y3un'y' Inc great organ Ut the new empirirsl school
ue "obc' 'Rhed That to States would now furnish their
own currency. ltesdcni Jackson, too with Pbwtop.
IKE ioy applied The lash -eeds impatient Of restraint
and already threatening 10 involve every inp IN rinug
ing and simulsng the banks to those fatal rsues
whence have sprung oil calamitios. Still for time
me great experiment seemed about 10 verify the vsup,
with which u was introduced 10 the fair but r,dc,st.
rewsrds Of labo, soon succeeded seemingly inordn,,c
prohe-io rutonal enterprise. wild and icentous b,,
YET sanguine spirit of speculation.
The amount oi mo ey he measure u OH other vslue.,
c"cuaung ~ any given time, regulates with constant an
PohinauOn TO the ratio which that amount holds ~ Nh,