The Port Gibson herald, and correspondent. (Port Gibson, Claiborne Co., Miss.) 1848-18??, 1850-01-11
From the Natchez Courier.
The Public Debt and Estimates.

The Public Debt and Estimates.
The estimates of the expenditures for the
years 1850 and 81, were, a few days ago, pub
lished by the Washington papers. They gave
occasion to the Washington Union to lift up
its hands in holy horror at the ertrauagance of
this Administration. That paper keeps care
fully out Of view the fact, that the 'econonlicap
administration Of Mr.. Polk increased the pub
lie debt from $l7,O00O00 to $65, 100000. 1t
attempts to play the same game that was
played when Gen. Harrison went into office.
The present administration has found this enor-
nous debt hanging over the country. Ii must
| be paid of; and the measures which shall be
resorted to to effect that object, we see plainly
enough, it means to represent rs the creation
of debt We know not what measures aciH
! be taken. Should it be loan, the Union will
be sure to represent this loan as the debt it
self, although its object is to pay ot the debt.
It's reasoning is about of this character: "a
dies, leaving his estate greatly embarrassed,
and under mortgage "Ba is his executor. t1e
! foresees that if the mortgage be forclosed, it
will be Of great injury to the estate. He bor
rows, the money, therefore, and pays the debt.
! The fair and dsinterested reasoners of the
| Union would hold that "B" created the debt in
! the first Instance.
The faith of the United States, continues
| the Richmond Wing, is pledged for SG5,000,00O
certainly; how mucii more there may De, OF
which MIR. Walker has not toid US, we Know
not But THIS much IS evident enough ms
debt was created by Ar' foiK, y carry on tne
! Mexican war It is as orator or Gen. Cush-
! inc would saw, a fixed fact. There it stands
upon the books and il must be paid oil. Gen.
Taylor stands 70 Alr. Polk IN Inc relation oi an
Executor upon Uncle Sam estate lie must
see that this money IS PAID Whatever ne may
advise; III order 70 raise the means 70 pay II, ne
Will certainly be charged by honest prints Ike
the Union with creating tic debt
On page l90 OF the American Almanac, the
reader will see the amount OF the debt and the
''eis SIX & INV + Was :" = - sIGsoIG17
1916 2l25G,1o5
I8l7 45G59G50
1918, 65.804450
From this 4 would appear4hat between 1916
and 5DDi }S4s ,n onr naona mG 5eb increased s4I547
955.
With regard 10 the estimates, and the horror
cypresspd by the Union. the Washington Re-
public speaks as follows:
he P0Bllc DEBT AND THE i1sIlnAIfS;- 3 !, I
! ~ s.
| moefacy seek inlorlnallon' on numoer q
points, IN regard 10 the treasury estimates ana
the proposed expenditures 1or me next liseai
year. lhey are very mNch outraged IN 'he con-
temptation OF national debt, ana see mani
fest design on the part OF the present Admins
tratlon 10 make the American people "heWerS
Of wood and drawers Of water 70 the Roths-
chlids and the BarIngs, ard other European
capitalists. This IS pretty well for the sup
porters Of the late administration. We can
hardly wonder that the friends of Mr.. Polk
should be frightened at the idea Of borrowing
money. Let Us look at this moment. When
Mr. Polk came into power in 1915, the national