The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-06-03
Government Finances.

The Washington Union gives the following
explanation relative to the financial movements
of the government, and the charges made against
the Secretary of the Treasury
lst Mr. Walker has sent treasury drafts large
SMALL to New Orleans. He has negotiated,
drafts large small, New Orleans elsewhere
acquisitions of the several departments made MIR
for the army or navy and Mr. Walker authorized by
law draws his warrant for the amount in favor of the
officer or person named IN the IegIisition upon the
public moneys are deposited; and the Treasurer then
draws his draft in favor of such officer any Of the
public Repositories having sufficient funds deemed by the
Treasurer most convenient; and Mr. Walker has
power control the negotiation of such
treasury drafts, nor has the Treasurer
ID. Mr.. Walker has directed authorized any
snch drafts described in the Bulletin to be drawn
from New Orleans or elsewhere on the treasury nor
does he know anything Of them; nor are they drawn
upon the treasury.
3D. Mr.. Walker. than a week since, directed the
transfer Of 5000 900 in specie to New Orleans
these demands the government and for the pur
pose he has SENT and has on the way to New Or
leans, million of dollars In addton-making in all
twelve hundred thousand dollars in specie.
4th. MIR Walker has made arrangements by which, at
cost of only threeeghths per cent he trans
fer amount of specie from the north to New Orleans
He will make unnecessary transfers, but whenever
the War Navy Department, who will doubt perform
their duty give him notice that specie funds will be
wanted at New Orleans Mr. Walker win instantly
nit at any time, the gold to that point in any amount
desired for public expenditure
not sent to New Orleans for disbursement? To this
there two All the treasury notes authorized
by law and not previously used to meet the pressing
mands upon the government were advertised tor
premium, and all taken at premium ranging from
of snS az
much bid for than could be supplied The reason
then why treasury notes are not sent to Now Orleans
has no connection whatever with Corcoran Riggs, as
Is most unjustly nsnuated; but because there
such notes at present which now be issued and sent
rs suggested to New Orleans, without clear and
But suppose MIR. Walker could now thus issue such
treasury notes, which would all be immediately funded
in the six per cent stock when such notes and stock
have risen premium Of FIVE six per cent what
would be said IL MIR Walker should arbitrarily select
and pay particular class Of creditors contractors
in New Orleans in such treasury notes and thus sacrifice
five six per cent Of the funds of the government!
What charges Of injustice Of sacrifice Of the public in
terests and of favorsm TO individuals would soon be
made by the federal the Secretary were to pur
sue such a course! SO far from favoring Corcorsn
Rggswho bid for the whole loan at eighth per cent
premium-Mr. Walker not only gave all who bid more
the whole amount of their bids he was bound to do
but TO NJ SS an .bos ne Of
bids, which very considerable. This he was not
bound to dol the usual practice Of his prsdscss
ders at eighth including Corooran Riggs In proper
ton to their bids which would have give them nearly
the bidders at an eighth the whole Of their bids
Corcoran Riggs thus giving to each one OF the bidders
at an eighth preference over RIGGS leaving
records show to the utmost extent that the law
would permit him in diminshing the amount vsgnable
to Corcorsn Riggs And now, then, we ask Of the
New Orleans Bulletin and all the wing presses which
have copied It's article the simple act Of justice which
will be performed by publishing this vindcaton.
MIR Walker has already ordered twelve hundred thou
sand dollars In specie to New Oseans he Is ready at
any moment to send Immediately, from time to time ms
much more he may be notified will be required for the
wants of the government and will do all that the law
will permit him advance the interest of the great south
western emporium. The new tariff on Mexican imports
must soon stop the drain Of specie from New Orleans tho
duties realised under the Mexican tariff party Of Gene
raj Scott, and partly Of Mr. Walker) having already
realized nearly half million Of dollars and the current
of specie viii soon be from Mexico to New Orleans and
New York