Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1849-08-09

In amount and magnitude, this defalca.
ton is worthy the golden days of the Loco
foco leaders, when they did things on n
large scale. 1t would have done honor 10 a
pr0tcge of Mr.. Secretary Woodbury.. 1t is
s55, 900 larger than that of Lit,lebury
Hawkins, of Helena. II is S45 900 larger
than that of Wiley p. Harris, Of Columbus
1t almost approaches the magnifcence oil
Swartwouts case.
Here we have already developed, before
the new Administration has got fair look
at the books, the case of Moore, Collins
and DENLY, to add to the long lists of their
lllustrious predecessors in the plumber OF
the treasury "Try us again." said the
I.ocofoc0 leaders in 1889; these defalca-
tons have all happened because the Govern
ment has been employing banks, and be-
cause there are no stronger penal laws
Pass good, strong, wholesome laws take
the money from the banks, and give us a
sub treasury, and you'll find that Locofoco
olfice-holders will be honest enough"
Well, the penal laws were passed. Dur
ing the administration of John Tyler, there
were no delalcations that were made public
or that occurred TO our knowledge. In
1874, the Locoloco leaders of the old fash.
ion came into power, and passed the Sub
Treasury law. This wrs to be sovereign
panacea. There was to be no more plum
der Of the treasury. Only four years have
passed, and here we have new crop of de-
falcations, springing up right and left, with
rankness that promises TO overtop the luz
Eriance of 1887 and 1880.
What does this new experience Of Loco
focaism demonstrate 1t shows that no
laws can protect the public money, if you
put it in the hands of dishonest men. 1t
shows that the change of mcn," which
Gen Taylor declared to be necessary to ar
rest the downward tendency of our affairs,
has come not day too soon.
We imagine that Henry A. Wise took
about the right ground on this subject in
1889. As Mr.. Wise is known at Rich
rond, aud is in high feather with the friends
of the late Administration, we suppose that
he will be received as good authority, upon
the proper mode of proceeding in the pres
ent " crisis" We copy from the Appendix
to the Congressional Globe for 1889,
page "a, the following pregnant extract
from a speech of Mr.. Wise, which we
CoIiiihelu W tue eSpeCidl uotiOC al" a'tSH'
ton of his political friends.
"My friend from South Carolina says,
and says truly, that the defalcations are not
to be attributed to this system or to that
No, sir, it is neither to Bank of the Uni
ted States, nor to the State banks, nor to
the Sub-Treasury. that you are to attribute
these enormous corruptions. No. Have
what system you may, if you put its admin
istration into the hands of wicked and in
competent rulers, the plan must fail Of do
ing airy good. That has been proved by
the course of this Administration. Tine
deialcation of Swartwout commenced under
the United States Bank system it went on
under the system of pet banks; and il
reached its contamination under the Sub
Treasury system, which is now in full oper
alton notwithstanding any lamentations
here or elsewhere Is there then no rene
dy! Yes, there is one and only one the
remedy is GENERAL TURNOUT thar, and
that alone, is our only hope of salvation"