Daily National Intelligencer

National Intelligencer.

TO THE EDITORS.

GENTLEMEN:

Well may you lavish encomiums on the pure patriotism and profound policy of a Citizen, exhibited in his letter to Mr. Crawford; well may the Citizen term all your co-respondents smatterers in political economy, since he has at length discovered that the scarcity of money is attributable to the banks having called in millions of their notes; and who graciously submits the following sagacious propositions to the Secretary of the Treasury:

1st. Not to pay off the Louisiana debt according to advertisement, but for the government to continue it, and pay interest, and leave the money ready for the purpose in the U. States' Bank.

The government, it is true, will thereby lose some credit, by want of punctuality, or rather by a compromise with its creditors, and an annual sum of interest, but, to save that—

2d. To lend, to the amount of the Louisiana debt, to the banks and individuals, on good security, at 6 per cent.

3d. To issue Treasury Notes in payment to contractors, army and navy agents and pensioners, to the amount of the bank curtailments, or notes called in, till the vacuum be filled. Now, I will only suppose this sum to amount to fifteen millions. But, if the government has the revenue in bank to pay these, must this money also remain in bank? I must acknowledge that the U. States' Bank, that opus maximum to equalise exchange, and to create abundance of specie and notes, merits every favor, particularly as the Citizen says that it will undertake the agency of sending non-bearing-interest Treasury notes abroad, without charging a cent.

I am so delighted with these suggestions, which the Citizen says form only part of his plan, that I am anxious to be enlightened by the remainder. I shall be much disappointed if you do not insert this my mite of applause, particularly as you say it is the best plan you have seen, & looks to no debasement of currency; for, of course, Treasury Notes issued to Contractors, &c. do not resemble Continental money or French assignats.

CIVIS.

P. S. If the government pay off the Louisiana debt with monies in the bank, they save 6 per cent. interest on this debt reduced; and if it lend Treasury notes, not bearing interest to the amount, it will obtain interest. If, also, it pays its establishments, &c, with money in the bank, and lends Treasury notes to the amount, here again it will gain interest; but, by a Citizen's plan, the bank is to have all the benefit, and the public nothing. Oh, pure patriotism, or sagacious financiering!

I will contrast the modes proposed to evince the wisdom of A Citizen's plan:

Louisiana debt continued; annual interest, say $200,000

Treasury notes issued to regain this $200,000

Balance in favor: $1,000,000

Treasury notes issued $15,000,000

Now the simple mode:

Louisiana debt paid off, saving to the people, per annum, $200,000

Treasury notes loaned, fifteen millions, $900,000

Gain, per annum, $1,100,000