The national whig. [volume] (Washington, D.C.) 1847-1847, 1847-05-29
MR.. WALKERS MANAGEMENT
PUBLIC TREASURY.

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For three days previous 10 the Goth of the
present month, not a single bale of cotton
changed hands 10 New Orleans This extra
ordinary event was caused by the still more ex-
iraordinary and senseless policy Of our speech.
less Secretary Of the Treasury in the manage
ment Of the Government finances.
Immense sums Of specie are now required.
by the armies of the United States in the con-
quest Of Mexico, but instead of directing the
paymaslers ia those armies 10 sell their bills
upon the government Of the United States 10
the exporters of specie from Mexico, who do
business in Vera Cruz, Tampico, &c., and OBJ
tain for them the hard dollars on the spot, Mr..
Walker, is engaged al home in protecting the
purchasers of the late loan from Inconvenience
in paying the money for the same, and doing
all he can 10 favor their interests, without
any regard to the interests OF the Public.
Treasury, or OF that portion of the public en-
gagged in commerce. He orders the bills Of the
United States Government on its Northern De.
pos,aries to be sold in New Orleans at hea-
Wy discount, and directs the specie which is
received for them TO be shipped to Vera Cruz,
Sc. and thence to be conveyed at a great ex-
pense and risk to the armies. This sale Of
Government securities in New Orleans where
the United States have no funds, drains the
banks and private depositaries of so much
Of their coin, as 10 seriously affect the ordi-
nary business operations Of the city, and on
a recent occasion, il stopped the sale Of cotton
entirely, for three days, in the greatest cotton
mart Of the world. In addition to this unwise
course OF policy, individuals in New Orleans,
who are creditors Of the Government, are COM
PEELED to accept drafts at short sight on this
city, and these are necessarily thrown on the
market at heavy discount to the still further
depression of the money market.
If the interests Of the country had been con-
suited by Mr.. Walker, he would never have
allowed such state Of things as now exists in
New Orleans. He could, as we have already
said, secure all the specie needed for the army
on the spot, by selling the bills of the United
States, and providing for their payment in this
country at the point agreed upon. A large
amount Of such bills have been sold in Mexico,
but they have not been projected a, home in
proper manner; and hence the shippers Of
specie in Mexico now refuse to buy United
States drafts any longer. Again: Mr.. Walker
could send Treasury notes 10 New Orleans to
be paid out TO the public creditor; but that does
not suit him for in that event they would be
sent 10 the North, and funded in u. S. 6 per
cent. stock, which would interfere with Messrs.
Corcoran & Riggs, who have not yet sold oul
their loan, and who are permitted by Mr..
Walker to traffic in the public securities, and
enrich themselves and their FRIENDS at the
expense of the Government. and to the ruin OF
commerce in New Orleans as well as else
where.
And on the other hand, he could send some
OF the Government specie which is lying heap
ed up in The northern Sub-Treasuries to New
Orleans, and thus relieve the pressure upon
that point, if he were actualed by high official
motives. But no. As the New Orleans Bull
ASuh WY JuSuJ says NHSit are TWO ways OF
doing the same thing-the one, simple, plain,
and free of expense, and the other uncertain,
complex, and expensive, Mr.. Walker is sure
TO adopt the latter. 1t is an evidence of the
character Of his mind, which is uncertain, con-
fused and selfish.
President Polk avows candldly through Gen.
Scott's proclamation that he has been deceived in
Santa Ana, whom he permitted 10 return 10
put down the monarchial party Of Parades,
and make peace with us. Well, acknowledg
ment of sins is the invariable precursor OF re-
pentance, but the people will give Mr.. Polk an
opportunity 10 repent at leisure in Columbia,
Tenn, of his high state crimes and misdemea.
nors.
UO- Mr.. Polk assures the Mexicans through
Gen. Scott that the war is regarded by the
Americans as necessity. That's the first truth
which we have ever seen from Mr.. Folks
pen. Il is indeed necessity. But, even as
Mr.. Polk himself is ,
N5- When Gen. SCOTS affec,ionate letter,
telling Gen. Taylor that he was going (by or
ders of the government TO take away all his
forces, was received by the old Hero, the