Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-04-02

T. L SMITH, Regist'
A brief examination of these statements OF
amount of the public debt at the two periods no
will render them perfectly ineligible to all al
accomplish that object The more clearly, the ord
time will be followed, and the statement OF The
on the Sd Of March, the last day oil Mr.. Van Bu
Term, will be first examined.
The order Of the statement will be also re-
versed, that The items Of the debt may
be seen in the order Of time. The last
i,emis, 1891 60
THIS will be seen to be composed Of four
several items, viz:
1.-THE funded debt so called being
part OF the oil Revolutionary funded
debt, not presented for payment,
amounting o-principal, S53,l74 So
interest. S2l3.lO6 &c.
1.-THE unfunded debt Unregistered GER
tihca,es'-being another part of the
old Revolutionary debt, not funded,
and not presented for payment, 500.
622 "a.
nTrrasury Notes issued during the late
War" not funded, and not yet pre-.
sented for payment, amounting 10
S4 AIS.
"AIississippi certificates" being stock
or scrip issued, growing out OF The
transfer, by the State Of Georgia, TO the
United States, Of her portion OF the
payment, amounting to S4,320.
The second item is, "Debt Of the cor
pors,e cities of the District of Co
lumbia, assumed by the United States,
amounting to $4,000
During the administration Of Mr.. Adams,
ION The 24lh of May, 1889 Congress
passed law authorizing these cities 10
subscribe for stock in the "Chesapeake
and Ohio Canal Company" and TO
borrow money to pay their subscriptions
Placing the power of collecting the
interest and principal of the loans,
through a tax imposed in the law, IN
the hands Of the President OF the United
States and the Secretary Of the 1rea-
sury The CITY Of Washington Dor.
rowed Sl,0O0,000 and the cites OF
Georgetown and Alexandra S2oO,OOO
each making, in ALL 81 100000, from
capitalists in Holland. The cities paid
the interest upon their loans Tor a
short TIME and then failed TO pay alto
gether. The President found he could
not collect the tax, without public
sale at auction of all the private pro-
perty of the citizens Of the three Giles,
while the foreign LENDERS pressed iof
their interest and principal; and, finally,
Congress passed q law To take Inc
stock Of the cities in the Canal Com,
pany, (which was worth nothing,) and
This item, III 6!
The fret item in the statement being the
third in this order, is "Treasury Notes
outstanding being Treasury Notes
ISSUED during Mr.. Van Burens Ad.
minis,ration, and not appearing to be
redeemed by the records kept in the
smo ou ri a.@ to 6,6O7 sc
These items make up the footing Of the
stntpnent heinU The whole amount oil
the public deb, on the Sd Of March, lS4l,
when Mr. Van Brren left Office, and
show when that debt vas contracted,--
and bow j, was composed, So,o"9,o'
From this examination, it will appear that tn
two portions Of this debt were contracted long Y
Mr.. Van Burens term commenced; and that,
them neither he nor his administration had anyth'
do, except 10 make payments as they should ial
and should be demanded.
The item Of "treasury notes outstanding, thef'
is the only portion Of the debt, existing on The
March, lS4l, which could be truly charged upo'
administration: and brief investigation into tina
show that material deductions from lis amount, as
given, should be made, to present the true amol
debt contracted by Mr.. Van Buren,, or during m
sidency, and left unpaid, or without the means o.
nent in the treasury, at the close of his term. 9
item, in the statement above, will be found apps
The following note:
.T'bis amount is exclusive of notes received 10
lies and lands subsequent to the 3lst Dec, io4o'