The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1859-03-02

now via have cost he treasury many millions Of
dollars.
We speak Of this matter in a financial pointof
view alone. The obligations Of the treasury are
already tainted Public suspicion has been excited.
It is said that if Congress is divided and contendng
up to the last day of the session without providing
proper means to maintain the public credit, what
may we not expect hereafter? If the holders of
curites and the just claimants upon the government
are put off to the last hour before provision is made
for them by this Congress- have they any guarantee
that step forward viii not be taken by the next by
which they will be left 10 petition for redress?
But is it not due to the integrity Of this great and
powerful people that their public indebtedness
should be held sacred, and be saeredly redeemed
Shall their government, the proudest and the freest
in the world-that government which was created
by Washington, Franklin, Jefferson, Adams, and
their patriotic associates and colaborers- dis
honored by the neglect of the representatives of the
people in 1859 TO provide means for maintaining its
honor debtor
This is not ALL Should Congress fail to authorize
the treasury to issue new bonds, or to reissue
treasury notes. il will become the imperative duty Of
means placed in his hands to conduct public affairs.
1t is not enough to vote appropriations to say that
fifty millions shall be expended without providing
the fifty millions to be expended. The President has
pointed out the necessities Of the government, and
has shown how the ordinary incomes under existing
laws are insufficient how those laws should be
modified so as TO increase the receipts. Congress
/, ,tati in
respect and s now within three days of adjourn
men diligently voting appropriations in the face OF
q bankrupt treasury and failing credit. bu-
siness man that would conduct affairs in snch
would be thrown into unatic asylum, and his
property transferred TO trustees for safe-keeping
Amidst all this extraordinary history we hear scarce
ly word or tone of anxiety about the honor Of
the nation which is thus threatened with bank
rupcy and ruin. Arc we rich to be
Indifferent to what we do Z? Are we so poor
that measures cannot save us2 Is it true in
deed that the nation is overridden by cold selfish
partsanship--by wicked and disgraceul scramble
of ambitious and corrupt politicians, who in
sensible to the necessity OF maintaining the national
honor they are deaf to every consideration which
does not look to their own individual advancement?
We cannot believe in the reality Of what in this
spect is too apparent The sober second thought
may yet come but vast injury TO the public credit
has already been done II is estimated by moneyed
men that the federal securities three per cent
less than they would have been under proper legis-
ation by Congress. The government Of Austria,
embarrassed by an immense public debt and threat
ening a European war, has just negotiated loan on
terms more favorable than the rates at which
curtes are held in the public markets of the world
If we as, why this is the answer on Change is
that Congress has ceased to exhibit the character
stics of craftsmanship and has fallen to the low
tate of political management and intrigue. The re-
publican party opened the present session by pub
lie ayowa of iresponsibty, thus dedicating them
selves wholly TO faction and it must be confessed
their example has proved more or less contagious.