The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-03-29
DEMOCRATIC SENTIMENT in TENNESSEE.

triumph.
DEMOCRATIC SENTIMENT in TENNESSEE.
At democratic meeting recently held in Sumner
venton among the many excellent resolutions adopted
the following:
Resored That the democracy of Sumner cordially APP
prove the leading of the administration and that
the recent vetoes of the President still further increases
their confidence in his political orthodoxy they that
he may follow the advice Of Col Benton and keep by him
blank for the veto of every infamous scheme to pfe
the treasury
We do not give publicity to the above evidence sim
ply Of the democratic sentiment in the single county of
Sumner but evidence of the democratic sentiment
throughout the entire ste for at the primary democratic
county meetings of Tennessee this spring. without sol
tary exception far have seen the acts principles
and policy of the administration have been spoken of
the unqualified language Of hearty approval For any ad
mnsuaton to receive the cordial endorsement of the
democratic party Of Tennessee conceive to be
thing more substantial than the sincere expression of
political confidence The geographical position Of Ten
nessee the very small of national disbursements
within her borders the spirit and pursuits of her people,
and her comparative freedom from all connexionsave
through congressional the govern
mental affairs of the nation render her democracy safe
and reliable test upon matters of national adjudication The
democracy of Tennessee have neither solicited expected
executive place patronage and being removed from
the equvoca influence of selfish considerations they
have the less hesitation in sustaining patriotic Pres-
dent in the generous devoted, and uncalculang
spirit which marked their support Of his ustrious demo-
cratic predecessors.
CALIFORNIA FAILURES AND THE UNITED STATES
TREASURY.
1t is striking fact that California opuent in her gold
has been the of many and such great financial dsas
ters The mails from there furnish sad details Of
another monetary revolution which has brought many \
man. in apparent ailuence, sudden poverty Business
establishments which reputed good gold' have
crumbed The merchant prince of yesterday is the poor
debtor of to-day and many person who had deposited
the all he possessed in what he thought safe place is left
with nothing but his character and his energies
In view Of the effects of this stupendous crash,
not but observe how safe has been the condition ofhe public
funds If the present head Of the Treasury Department
had pursued the policy which characterized previous
Secretaries who tell how much of the public money
would have been involved in the San Francisco failures
Before the accession of the present administration il
the practice Of dsbursng officers of the government in diff
erent localities to disregard the subeasury law. In
stead of depositing the national funds in the subreasuy
of their respective districts they frequently ntrused them
to the keeping Of bank broker loaned them
the merchant This saved them little troubeper-
haps ii gained them few hundred dollars but it
loss TO the country The present Secretary OF the Treas-
ry determined remedy this evil and have the money
the United States put in safe place in the subtreasury,
where the law directed il should be deposited.
The consequence Of this policy may be by glance
the deposcs with the subreasurer of the United States
at San Francisco during the month of February last As
appears from the returns Of that officer they amounted
S5sso5s 81. Among the officers TO whom the amount
credited the postmaster the paymaster OF the
army the navy agent and the superintendent of Indian
affairs. Now, supposng this heavy had been scat
tered about among responsible firms and banks at the
time of the failures above mentioned; or what Is more
suppose the practice ali along had been TO wink the sub
treasury law out of sight what intelligent can fail
TO the loss which the country inevitably would have
incurred As the policy is it safe Besides the
security against loss the enforcement Of this law in s
true spirit is actually of profit the government
premium paid into the treasury the drafts that are
there presented
Mr. Benton is said have remarked not long since
and with considerable emphasis q Sir, Mr. Guthrie is
the only Secretary who has ever administered the
subreasury law with fidelity We believe that by his
prudence and determination, well by having about
him competent subordina,s he has saved the country
great amount of money. Nor do have any doubt but
that candid Of every party win acknowledge that
there has been time in the history Of the country
when its finances managed with greater wisdom and
economy,
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