Thank you for visiting SNEWPapers!
Sign up free
Domestic News
July 1, 1848
Indiana State Sentinel
Indianapolis, Marion County, Indiana
What is this article about?
The Pennsylvanian reports that two years ago, Senator Webster prophesied in a speech the difficulties of securing loans for a potential war with Mexico, warning against deceiving oneself about capital holders' willingness to lock up specie and suggesting abandonment of the new method of keeping public money.
Clipping
OCR Quality
98%
Excellent
Full Text
Just two years ago, says the Pennsylvanian, Mr. Senator Webster, in anticipation of a disastrous and expensive war with Mexico, made the following gloomy prophecy in one of his great speeches. We place it upon record as a curious and interesting relic:
"With respect to loans, I beseech gentlemen not to deceive themselves. There is money enough in the country, it is true, and the credit of the government will be good; and if gentlemen suppose that a loan is to be contracted in this country for the use of the government, to be paid in specie, in the expectation that that specie is to be locked up, they will find themselves mistaken. Those who hold capital will consent to no such thing.
"I take it for granted, then, if loans are to be made, the new method of keeping the public money must be abandoned."
"With respect to loans, I beseech gentlemen not to deceive themselves. There is money enough in the country, it is true, and the credit of the government will be good; and if gentlemen suppose that a loan is to be contracted in this country for the use of the government, to be paid in specie, in the expectation that that specie is to be locked up, they will find themselves mistaken. Those who hold capital will consent to no such thing.
"I take it for granted, then, if loans are to be made, the new method of keeping the public money must be abandoned."
What sub-type of article is it?
Politics
Economic
What keywords are associated?
Webster Speech
Mexico War
Government Loans
Public Money
What entities or persons were involved?
Mr. Senator Webster
Domestic News Details
Event Date
Just Two Years Ago
Key Persons
Mr. Senator Webster
Event Details
In anticipation of a disastrous and expensive war with Mexico, Mr. Senator Webster made a gloomy prophecy in one of his great speeches regarding loans and public money, quoted as a curious relic by the Pennsylvanian.