Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1850-1859, 1858-01-01

is nothing more certain-and l venture
predict it-than that tho Secretary of th
Treasury will be here next winter, askin
: loan Of $4,000, 900 at the close of .ha
year. And soon the Government will &c
used to it, and by and by it will slide int
monster bank, compared with which tn
United States Bank was mere pigmy
The little finger of this movement will b
thicker than the loins of the United State
Bank.
Now, Mr.. Chairman, l ask, what are tn
"estimates" of the Secretary of the Treasur.
worth? Not three months ago, he was il
the market, with surplus in the Treasury
purchasing United States stocks at a PRE-
MUM Of fifteen or t'eenty per cent Ant
what was his opinion, then? That the affair.
Of the Treasury would 60 on prosperously
and securely, as his own actions shew il
the readiness with which he was prepared
to purchase the stocks of the Government
at this high rate of premium. What,
say, then, are the estimates Of the Secre.
tary of the Treasury worth, looking at his
copJecturcs for the future by those in the
past? tell YOU that there will be nothing
IN the Treasury with which to redeem these
$4,000, 600 Of Treasury notes, and to en-
able the Treasury to meet its current obli-
cations, which you now propose to author,
ize it to incur.
stated that there was no necessity for
loan II a proper system Of retrenchment
,cere pursued by the Goyeamen But, sir,
do you suppose ever dreamed that the
Democrats of the present Administration
would practice retrcuchmcnt No, sir.
| said there was no need ola loan, If prop
er retrenchment were carried out; but
not that | thought there was any proba-
billy 1t would be done. But, mark you,
1t Is my honest conviction, that, SO far
from being able TO pay this loan when it
becomes due, We shall be asked for anoh-
er loan before the close of the present
yrur. Aud I might 40 woll coy. .juo. Lvru,
that, though | would be ready to relieve
the Government, and to restore to its for
mer prosperity the whole country, and
myself in particular, still do not believe
that any system Of partial relief-any
measure Of empiricism-will do it. We
shall, We must 60 to the bottom, and we
may as we'll sink at once, as to try and
save ourselves before We touch the rock.
Perhaps l ought, in justice to myself
and those | represent, to say that do not
care to press the amendment-[ for d.
recttar as to the mode of paying the is
sue Of notes. But do like to present to
the Democracy Of the country an opportu-
iy OF adopting those measures which they
have always professed to approve. When
lthuriel, according to Milton, was sen, in
pursuit of Satan, who had bridged and
:rosscd the chasm that yawned between
MS empire and the earth, he followed his
rack till he reached the walls of Paradise.
Catering that consccrated spot, Ithurisl
could hnG nothing in the approximate
shape of the Evil Spirit whom he sought;
i'll, at length, finding Eve slumbering, he
discovered toad at her side, intiltrating
lis devilish suggestions into her ear, to
'ollute ber yet sinless spirit BY his su-
'ernal intelligence, the good angel knew
hat this was the disguised fugitive whom
le sought; and, touching him with his
pear, caused him to start up in his true
hapc and proportions. So, sir, | would
Ike to apply these tests, to make the De-
noeracy stand out and appear to be what
really is, hypocritical show.
Sir, what is paper currancy-irredeem.
BILE paper currency? 1t is a rals.hood.
When q hank bill goes abroad in the
ouDtry, and says, 81 am twenty dollars;
am fifty dollars; l represent SO much
pecie," it is a ialsehood upon its face
t does not represent what it purports to
epresent. 1t often represents nothing.
And when we put forth paper currency
II Treasury notes to the world, purporting
o represent SO much specie in the Treasu-
y, or other places of deposit, when the
pecic is no. there, it is deceptive. 1t
eprescnts not specie, but the credit of the
country. And if the present Admins.
ration follows in the footsteps of the last
for The next four years, l
10 mot think the "credit" of the country
will be worth much. Sir, all these at
empts to relieve these commercial disas-
ers, or to prevent them, by new issues of
rredccmable paper, are like the policy of
he man in Scripture, who built his house
Ipon the sand and when the rains de-
cended and the floods came, aud the
winds blew and beat upon that house, it
ell. tell you, that all the cobweb at.
enpts to keep off the storm will be una.
.aiiino Tho c-sya,n nf