Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1858-01-01

In the case Of Kansas, Douglas and the Re
publicans agree that the Lccompton Constitu
ton will lack the element of RcpuJlicanisb,--
constitutional RcpuJiicdnism-if it is forced
upon the People Of Kanzas against their will
And they agree, that if the Administration
forces it upon them by Federal power, it will
be an act Of Federal tyranny.
TIE President Harmed
| am told that the President is alarmed at
the present position Of affairs. know not
in what particular. Perhaps he fears that the
party Of the Administration is in great dan
ger. think it is. Perhaps he fears even
worse and moro fatal complications for tho
Administration. Rumor indicates such. As
yet, it will be remembered, both the Rcpubl-
cans and the Southern Democrats, with sin
gle exception on each side, have RETAINED
from mingling in the pretty family quarrel in
the Senate. The Republicans enjoy it great
ly; their grave Puritanic faces absolutely
glow. as if a great and unexpected joy had
taken root in their hearts and bloomcd in ra-
diant smiles The Southron side is serious
The usually impetuous temper Of Southern
men seems to be suppressed by the weight of
serious matter. And the rumor is of seri-
Gus matter, especially to the Administration.
II is that there has been caucus of South
ron mcn-l know not whether it be of many
or few, and that the determination was to
use this Kansas question 10 bring about a dis
solution Of The Union. There are leading men
here who believe this to be true; men who
do not regard it, and will not treat it, as a
mere threat to frightcn the masculine old wo-
men of the North. Indeed ] do not know
that it can Brighten any body, but the Presi-
dent and his party If the attempt is to be
made, perhaps it would be best to have it
made at once. But what will the President
do? lie has well nigh lost all his Northern
friends by tamoly submitting to the Southern
Now if the Southern attempt to abandon him,
and his government, and his policy--what will
he do Perhaps rumor has done injustice to
Southern men here but | repeat, there are
those here, whose judgment | should be
bound to accept against my own, who think
the rumor correct. therefore record it as
one of the most interesting, and possibly one
of the most important, items OF Washington
gossip.
4 Government Bant-T wenty Millions Of Pa
per Money
The telegraph has informed you of the pas
sage of a treasury note bill. That bill, as it
came from the Secretary of the Treasury, |
was, venture to say, one of the most extra
ordinary bills that ever came from the head
of a Department. | have SEARCHED the
laws-a dozen of them--to find precedent,
but in vain. The proposition was to author
ize an issue of treasury notes, payable to on
der, in sums not less than fifty dollars these
to bear rate of interest not exceeding six
per cent, and not to be payable under one
year Tho amount authorized was twenty |
millions of dollars. These notes were to be !
received at the Treasury for bonds and for
duties. Thus far nothing was without prcc-
edent in the form or effect of the bill. But
there was added the power to reissue these
notes after redemption in payment for bonds
or duties. This, too, is not unprecedented,
although not always conceded. But, finally,
there was no limitation Of time IN The bill, either
for tie issue or reissue Of these notcs-a thing
entirely without precedent. What was the
consequence; Just this the President
could issue twenty millions of paper money,
and, by reissue, keep his amount constantly
IN circulation. The Government would pay
debts with them; the citizen would pay his
debts to the government with them so the
government would neither pay nor receive
gold, so long as the paper could be had to do
this service. Yet, the very message which
recommended this issue of paper, not CON
vertible into specie for year-which propos-
cd to lcgalize suspension Of specie payments
by and to the government for year-blowed
up the State banks for supending for too
months, and threatened them with a compul-
sorry bankrupt law Aye, that very message
boasted--
Thanks to the Independent Treasury, the
government has not suspended payment, as il
was tonptiltu W uu ny tue Nliufe OF the
blanks in 1887"
But it has, though, within fortnight from
the issue of that message, and suspended with
the approval of the President.
And again, said the message
at the Government win continue to dis
"chargc its liabilities to the people in gold
"dnd giuer."
But it won't though!
Great men are not infallible. A year ago,
the Tariff was cut off, to get rid of surplus
of revenue. To-day, the treasury is empty,
and Democratic hard money government
resorts to shin-plasters-an inconyertiblc cur
rency.
The debate was rich OF course the Re
publicans would help the Government out Of
its troubles They would raise the Tariff
| they would authorize loan; they would vote
treasury notes, oven, with proper limitations
but they ,could taunt the hard-monoy, anti
bank Democracy for rcsorting to Gorera
ment banh, and the issue Of inconvertibl,
paper money. The Democracy squirmed
protested--but voted the paper money tn,
issue and REISSUE were limited, by an amend