Democratic banner., 1849-12-24
ABEAUTtFuL T1ME COMING.

T, rF.r- =. . q q vFIEt[ D. s..pif.s
A correspondent Of the North American eriti.
cises severely the recent announcement Of q de-
I6cit in the revenue. He thinks an, explanations
Of the manner in which this deficit Is likely 70
occur should hsveJbeen made TheeNorti Ame-
rican is the organ Of the Secretary Of State
The first indications 6fthe' PbIssifnf iafaif sspppaear.
ed IN that paper rom ssRss ffssntof' eeoHe:psnaiddaFF
|ent. It startled The public agood deal, set stooekff
jobbears aghast, and Kicked up a,lfnu fuss gssps5alLly.
The Republic comes down upon the correspond
Ient for his late letter, tbus:
"Let us look at this matter a moment, There
are vatiousrwsys Of conveying informatiOn'tO The
people. It may be communicated 3tUthe shsny-
nous correspondents of Journals published in
other cities, and appear, in the shape Of mysteri,
GUS hints and shrewd 'intimations in the first
place, 10 be followed up photographic despatch
les and ampler details from, well informed corr
respondents, or correspondents with peculiar adj
va-tages Of infofmation,' or correspondents
known to be in the csDfidencs Of member ofths
Cabinet It may then, be mixed up, with crude
and rash speculation, with false CLOSES and CONF
ments, and turn all business affairs ~topsy-tnrvy
fore day or two, tinipeople begin to think for
themselves, and obtain reliable facts frOmresponl
sible sources. Meanwhile, the operations in the
stock.market 60 on briskly; and in the end, men
find that they have been dubbed BY an idle CLAM
or which isrsiaed for the purpose'of giving IN.
terest to . letter from Washington . aaloz
There are some tolsrably plain hints to Clay
ton & Co., in this extract, andthe whole article is
Iof like tenor. Meredith has put forth bis card
proclaiming a deficit. Clayton's, organ growls
over it, and Meredith's organ takes atilt at Clay
ton. They viii use each other up. EaeE will
do well while he ~criticises the other, for both are
bad enough in all conscience. There is d CON-
iroversy in the cabinet and not % a friendly one
either-that's evident from these organs sai
The Republic undertakes afornsl account Of
the anticipated deficiency in the treasury, and
here it is; rs...,c aiI .Ys.'U2azt al 10 -
ia'Eers,is the deficiency stated, and the, cause,
which is amply sufficient T. account for that De-
I~fciency. The reports of Mr.. Walker and the
statute book fully explain the mode in which this
cause has operated. We cite from printed ,dpcu-
ments. Our receipts in l847 were $26, 346, 1896
our expenditures in the same year were $780,
929, 09S. Our receipts in lS48 were $35, 1885,
$50; our disbursements in the same veal. were
I$42,8ll $40. In the years Of l847 and lS48,
therefore. our expenses exceeded our income
1886, 958, 1923. By the law providing for the exc
%cution, in part, Of the twelfth article of the treaty
with Mexico, So, 2 ,0O6 are appropriated to pay
the principal and interest due May 30, l849;
and 81, 540.O 900 to pay the principal and interest
due May,3O, 1850. Under the provisions of the
fifteenth article Of the same treaty, the Secretary
Of the Treasury will be called upon 10 pay 3d.
250, 600 Of claims Of citizens ofthe United States
against the republic Of Mexico Here is a sum
of $47, 46z,523, over and beyond all our receipts.
A portion Of il has already been provided for by
the issue Of treasury notes, on which il frest il
ITO be paid, and all this cannot be betrayed from
the current revenue. This constitutes the deh-
cit. Il results from the acts of the last admins
I~tration, with which the present has had nothing
whatever to do.n '--l52 -" 81 ian ,2a"i ~
We don't know whether TO aserbe; this state
msnt to ignorance or mendacity.7 If the editor
does not know better, he is the ~mOst,ignOrant, ed
itor in the Union. If he does know better, he is
a bold ~falsi6er, and rather a bold calculator upon
the ignorance and stupidity Of the public He
here arrays $47,467 .52s, as if these sums were
to be provided for still and represents that this
is to account for the deficit that il to come. aanAn
Now, what is the facsp The Republic states
the revenue Of the country only in the years ls47
and ls4S-leaying out the loans "the amount Of
$50, l27, 099, which covers the whole. deficit, and
more too. These loans are not to be re-paie;
the interest only is wanted-about 100000, or
less. Thus, forty-seven millions Of, deficiency
made out is utterly false for the purpose its used
This is the most shallow attempt at falsehood
that we have met with. II the organ can't tell
a better .falsshood. he ought to be discharged -
utterly unfit for his position. The lie is altogeth-
er Improbable. The cabinetlsiioula not give a
cent for it. It's not worth the ink and paper il
required to print it. Our neighbOr. great a blOek-
head as he is, could do better than thi. Of, hand.
This pretended deficit is thEQwn out a. a fsel-
Ier, It is to furpisha basis, if il car. be swallow-
ed, Tor banking, for raising the tariff. and other
inancisring exploits, inb witch the spOilsnsn
wish to engage.--tLouisvAis Democrat. oa :.
= aitstoIG! YiELlallal nssd sEti Ia! s.ij
@ GyzWbip scfibbisrs hayeasinpled out The