Daily evening star. [volume] (Washington [D.C.]) 1852-1854, 1854-06-29
wAsHINafoH NKws AID GOSSIP.

WASHIN9f0N NEWS AID GOSSIP.
A Serious Mistake made BY Nr. Stanton,
Of Tsnn.-That gentleman, in addressing the
Committee Of the Whole on the state Of the
Union q few days since, against the Washing
ton water works, urged that the cost (sxpense)
Of constructing the foundations for the aque-
duct had not been taken into consideration BY
the Engineer in making his estimates.
This most singular mistake only attract
cd our attention in time to permit US to
explain his error In the Star of this afternoon.
Thus, We have to say that, on inquiry, We learn
that the estimate provides literally for every
expense that may possibly be incurred in con-
structing the work. 1850 r-......
The aqueduct or litre Tor sewer, which it re.
ssmbles,) requires NO separate foundations
when laid in a trench through earth or rock.
1t isundsr, not above ground, and they dig I'M
til they get good foundation. Where it crosses
ravines, the support will be, in some cases,
bridges, for which good rock foundation is
always provided. In other cases embank-
ments will be made Of earth, we'll rammed, to .
height rather above the middle of the conduit;
and then q bed II excavated along this en-.
bankment and the conduit built and covered up
with earth. In New York, the Croton aquednct,
which is extravagantly constructed, was built
upon an ombankment of dry stone, and then
covered with earth, across ravines. In the
Boston and Albany aqueducts, subsequently,
built, the engineers having gained knowledge,
omitted this dry-stone foundation as useless
and less safe than the plain earth embank.
nent. Experience shows that they were right.
Leaks through this dry stone wash away the
earth covering, and this work requires more
repair thsn the Boston work.
Captain Meigs preferring, from reason and
experience, the Boston mode of truction,
adopted it. But there is no particle of found
alton, or any other necessary work, which is
not properly provided for in his estimates.
Continental Monsy.-Every American has
more or less traditionary information of the
suferings occasioned by the fluctuations of
continental bills of credit during the Rev
olutionary War. No other medium for the
payment Of public obligations being within
the command of Congress for q long time,
the most patriotic citizens who most cheer
fully furnished services and supplies for
carrying on the war, were most severely
scourged by its depreciation and down
fall. To destroy the credit of the Continental
money was one Of the leading objects of the
British Government and its emissaries. I'm
pressed with the belief that Congress possessed
no other means for waging active warfare,
they supposed that when its credit was de-
stroyed, the war must cease on the part Of the
feited Continental bills put into circulation by
the British and tories in every part of the
Continent where they had footing.
Large as was the amount of Continental
bills authorised by Congress-say about three
hundred millions of dollars-it has been gen.
orally estimated by those best acquainted
with the subject, that the enemy put into cir.
culation false bills to at least three-fold that
| amount. They were given gratis to the tories
in New York in any sums they might choose
to carry away. They were scattered broad
| csstfrom Canada over New England. Wherever
the British army aeld q post, and was in COM
munication with those disafected to the Amer
lean cause, counterfsited Continental money
was spread from that point over the whole
| surrounding region. 1t was so difficult for
men in the ordinary walks Of life to distin-
| guish between the true and the false bills
| that the design of the enemy in destroying
their credit finally was successful, bat did no!
| result il stopping the war as they had ex
pected. Means were found for carrying it tt
triumphant issue but it left the countr,
and exhausted from its sacrifice.
| and exertions.
One Of the most powerful influences in f.vo.
/ III INC auupuon OF the Federal Constitution
was the necessity for some provision for the
revolutionary debt; and one of the first mea.
sures Of Congress was to make that provision
BY the funding act of 4th August, 1890, it wal
provided that until the 30th Sept. 1871, the
various description of public securities then
outstanding might be funded at the Treasury,
or with the Commissioners of Loans, appointed
in each State, for which stock was to be issued
For the principal Of the debt 80 funded, per
SS~s' s"oSA W. - AooooV, VI WHICH CaflIcI
interest from 1871, and the balance ed
deferred stOck-csrried interest from 1901 -
Under this act, Continental bills of credit Nigh
be funded at the rate of one hundred dollars,
sl assA hi bllls fGE one dollar il stock The
debt, was extended by subsequent laws to the
Both June, 1894, when it finally expired From
that date to the present time-a lapse of just
sixty years-no authority has existed by law.
for paying or redeeming Continental bills at
any rate whatever 1915. -......
We occasionally hear Of parcel of Cont.
mental bills in the hands of the family of some
revolutionary veteran. The first question is,
why were they not funded when legal author
ity existed, during four years for that purpose,
in every part Of the Union? '5-
1t may have been because the amount was
small. But it must be recolIeeted that at that
time there were runners or agents traversing
every nsighborhood, purchasing up these Sc
curities at their full money value. There was
therefore, no difficulty in disposing of any
sum, however trifing, if the bills were gen.
uine. Of this, these runners or agents whose
business it was to know the false from the gen.
uine, were fully cognizant. It Was useless for