Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1846-10-17
!. DIVORCE OF GOVERNMENT AND BANK

= DIVORCE Of GOVERNMENT AND BANKS"
Ever since this dogma was proclaimed to be an
article of the Democratic creed we dare say that
every one of the rank and file of the party has
placed implicit confidence in its real practical exist
ence. We would commend to all such the perusal
of the annexed statement from the New York Cou-
rier and Enquirer of the 9Th instant:
g The Secretary OF the Treasury unsuccessful sup
pcant yesterday City Banks for loan of their notes.
credit upon deposite of the of the United States
Treasury, bearing interest at per The PROPOSE
ton of the Secretary was that the banks should place
three -four millions to the credit of the Treasury the
United States, and accept security therefor like
OF Treasury notes. bearing per cent interest other
words the organ Of this hardmoney Administration offered
to the bankscompete separation between which and the
public moneys of the axoms of the Baltimore Con
venton and is the foundation of the Subtreasuy bill
with all its apparatus OF Safes Receivers fatty paid and
penal bonds-that if they would advance the Federal Go
three four millions of paper bearing no
tre the Government would give for such advance their
paper bearing per cent. interest
g And the banks refused With good reason they re-
fused for if such of their ordinary capital were
lent the Government would be much distracted from
the ordinary capital employed in the regular business of the
cyunles indeed, the Treasury deposited secu-
ry should be Immediately put the market by the banks
which, in the present diminished receipts the custom house.
could probably be done, without causing decline in the
value of such notes.
The Banks, however, offered to make the loan at per
cents at which they freely lend upon good bust
paper all the funds they have Mr. Walker refused
alleging that he could elsewhere obtain at per cent what
he required
ct is absurd to suppose that the banks will lend the
Government at per cent. when they get per
from their customers upon short business Paper-and every
conversan, Secretary of the Treasury ought be-
with such Matters knows that is so-and therefore the
wrong of putting the Treasury the attitude Of suppcan
the banks for vors This wrong to the public In
the particular relation in which Nj. Walker and the Admin
saton Of which he the organ to the banks il is an
inconsistency exceedingly ridiculous"
The Funeral of the late Mr.. Fox took place
yesterday, all the arrangements for which having
lin the absence of Mr.. PAKENHAM) been directed by
Mr.. CHAMPION, Secretary of the British Legation
The funeral was attended by the President of the
United States, the Heads of Departments, the Di-
plomatic Corps and many of our most respectable
citizens.
The religious services were impressively per-
formed by the Rev. Mr.. FRENCH, of the Protestant
Episcopal Church.
The Pail Bearers were
The Secretary of State,
Major General Scott,
The Minister of Russia,
The Minister of France,
Commodore Warrington,
The Mayor of Washington.
The remains of the deceased were conveyed to
the Congressional Cemetery, and deposited in the
public vaultto await the instructions of his connex-
ions in England.