The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-02-10
IN. proposs.I LOAN

The fropoSeu Loan
1t seems that the wings of the House of Representa-.
lives are not permitted to pursue their game of cripping
the Treasury by refusing the loan facilities which the
government asks without complaint even from their own
followers We copy the following statement from the
regular Washington correspondence of the New York
Tnbune-a quarter. readers know, well informed
as to the purposes of the wings, and ingenious if UNI
scrupulous, in defending them
Correspondence of the Tribune.
WASHINGTON, Feb. 7, Is4s.
Many members of Congress are opp,essed ,onh Letters i'm
poruning them TO poe for the of more treasury notes
These letters proceed indrinnatsiy from of yot
zeal parties and addressed 10 both the higs and oeoocos
Of Congress They represent such issue absolutely
eessa,y for sustaining public and private eredas required
by The operations Of commerce. The better security of banks
and for carrying ertenspy general business of
the community "a more vigorous prosecution Of the war;
might also have been added, moving reason for such
issue
No doubt the present singeney of the money market might
be reered by such and, temporarily commercial
and manufacturing operations be benefited But the policy
alike with the morality, of accumulating large public
debt or the next generation TO lquidae, be doubted
The administration which has casual possession of the
government of this country will take no proceeding
adopt negotiate peace, long funds abundanty
granted TO carry The Let there be liberal issue
of treasury notes. and shall hear of peace du
ring Mr. Folks time of service.
The mpossbility olnegotating loan par presses
hard upon the paatal adheres that they seek avoid
the measure and they know that the price
the government will be obliged pay for discount of its
notes will be transparent fact the people OF the cost of
this and its gross msnanagement of the finances
Of the country.
This is strong testimony from unwilling witness
favor of the wisdom OF the form of the loan
mended by the government, and which the wing majority
OF the House determined to refuse. II appears that
the people, without distinction of party, protesting
against this wing plan OF finance, substituted IT is for
the government plan with plain purpose to embarrass
the treasury The protest, it appears placed less up
on the ground of any increased difficulty which the gov
eminent may thus be made TO meet in negotiating the
wing loan, than upon its tendency needlessy create
hard times in the money market. Indeed, to at
glance the full Righteousness of this policy of the wings
must be borne mind that against the urgent advice Of
the Executive they have brought forward loan bill
shaped specially with view derange the business and
the money market of the country at home for the purpose
of Gripping its efforts against its enemy abroad The wings
have set themselves at work to make hard times with
view to reconcile the people to national failure and dis
honor in the war
If these things be done against the remonstrance of
their constituents, by the present accidental wing MAORI
ty in the House, what may not look for should the
whole power of the government be transferred to the
same party Who can fail TO see that the wings have
taken position wholly incompatible with the maintenance
of Justice and honor iii relations with Mexico! By
declaring this unconsutional-and that, too after
they had themselves voted in to make it a of
invasion part, and to prosecute it successful
termination by spending the first eight weeks of the
sion in declaring the ESQ voted) violation of the
constituon-they have done to prolong its horrors
than could the presence of twenty thousand Mexican
soldiers drawn up in battle array at this moment
at Querearo. By protesting beforehand against terri
toal indemnity and against the principle of all ndemn
ty they have given aid powerful than armies to the
Mexican rulers their efforts to hold out against peace
1t only remains, them for the wings to complete their
work of moral treason, by substantially refusing men and
money; and upon this, if present Indications are not
falacious, they resolved.
In former war, the people of this country have seen
opposition similarly demented, and have passed solemn
Judgment upon it. And yet has been reserved for the
present day to cap the climax of this political madness
The men of the Hartford Convention-the men who
during Mr. Madison's administration, proclaimed that
the country was given the rule of trumvirate
conspiracy consisting of slim Madison, Felir Grundy
and the DeuH"-even these men, rabid as they were
against the of 1872 did not attempt to break down
by breaking down at the same time the monetary and
business interests of the country They urged capitalists
to have nothing to do with the government war loan
but they did not that know OF, attempt to shape that
loan, against the government recommendation, into
neellessy onerous and oppressive form This LAST feat
of craftsmanship has been reserved for the wings of s4s
1t is political outrage in annals and, from the
wrath of patriotic people, it is destined to be visited
with new measure of doom and punishment.