Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1846-09-24
Government Paper moner. AZ.
We copy the following interesting letter from the n
York Commercial Advertiser:

we copy tue following interesting letter from the y.
York Commercial Advertiser
"wAsmSsTo1. Sept Is.
Notwithstanding the conhisn, assertions Of the Union.
the Administration does not feel secure in is policy and
measures. There have been lately very strong manifesto
tons Of hesitation, embarrassment and apprehension on the
part OF the Government, as to all is leading measures.
the financial position 81 the Administration 10 any thing
but easy or promising. The working Of the sub. Trsasprv
which was forced upon it by the decree ofthe Baltimofe
convention, u very embarrassing and will become more 40
after the FIRST Of January. Mr.. Walker does no, hesitate 10
throw the blame Of the present Embarrassment upon SIR
Benton, Mr. Allen and Mr. Speght-upon those Demo
cratic Senators by whose porunaci0us and insubordipste
OppoSiton the provision for issuing Treasury dfafs was de.
ieaied. It's well known that Mr. Walker considered ,ba,
provision essential to the pucueabiiiy fthe system. For
this very reason, the Wings united with the ultru-hards in
opposing u, for u ~s5 their policy 10 render a scheme I'M.
practicable, which they eonsidsred ineIpodieni aud mis-
chievous.
The Secretary had been 20 confident Of obtainiB, sutbo.
ry for issuing Treasury drafts, that he had already caused
them to be engraved and prepared for use.
One Of tho uses intended 10 be made Of the Tre1surv
drafts, issued IN denominations Of fifty dollars and upward.
was the very sensible and practical one VI obtuining
suppies Of specie from the Mexican traders. n -ould
greatly facilitate the mercantile operations OF the tsdrrg II,
sell hoif specie Tor these drafts, by which they could make
their payments Tor goods 90 New York, New Orleans and
elsewhere; and the PSF department " tho army would sb.
tain specie Tor the paymentOi doe troops; and the commts-
sunaf cOud be supplied with money fo5 uuo pureb,.c of
supplies for the army IN Mckee. This arrangement wac
Of course broken up by tho defeat Of Mr. Walker pr,,j-
| ion, and the result as ] have been informed by tG,sr mar
tCaIy acquainted Win the TACT, has been very EmharfHa.
sing and will become more 90 as the var poe. 900. This
operation was alluded 10 by Mr.. Benton. in hs fierce do.
nuuciauon OF The amendment authorizing tiesc dfafs, and
De- pronounced Ian Illegal, fraudulent and danqs rous .a-ls
Of paper money BY the ffdeml Treasury.
Mr. Calhoun, % will be remembered, strongly supported
the provision, md urged That the most efficient mode Of
destroying the system ws' 70 embausss IL By unnecessary
| rostucuous.
The resUltis thatthe money must be- collected rom tic
different subs and transported 10 and through Mct,tl. with
the armies Of Invasion. Even for payments .n ihs city
'befe h7' already been some Embarrassment 10 has been
necessary 20 bring specie here from Northern dspo.itones,
and count UbH iho Treasury Department, az no small er.
peuqc OF time aud trouble.
The prospect Of the revenue Tor rcvofal yean 10 come 4
oy no means gratifying 90 the Admiuis'muon, though they
.uu.a,of'n To- represent D. ns worry promising. They DE-
trust the new scheme a. a source Of revenue even for ord.
nary expenditure, and Tho necessity Of nm carly resort ta
ufeoi nFauon si'ffH thrm DO tHe face. However proper
eHredcnf and md s]poneabIo such % rosorf may be- tbs,
must Know ihniHwil overthrow the political parry That bas
byte measures. rendered 10 unavoidable. "Ths psoplr,
as Qd Mr. Smile uscd 60 say, "can't tsko war and iare.
bJth.n
~ Mr. Buchanan, Secretary Of State, arrived in Pbi..