Gazette Of The United States And Daily Evening Advertiser

From the Philadelphia Gazette.

Mr. Brown,

By giving the following a place in your paper, you will oblige a number of

OLD SOLDIERS.

THE following remarks on the faith of government pledged to pay the interest on the New Emission Bills, (mentioned in the secretary's report) are respectfully submitted to the wise men who are to decide upon the subject.

I. Every one who looks into the act of Congress issuing these bills, will agree with the Secretary, that the faith of the Union is absolutely pledged to pay the interest on them annually until the principal shall be paid.

II. That no scale of depreciation now existing can affect them. That the Loan-Officers calculated both interest and principal as specie, in the payments they made with these bills.

III. That the act of any state for reducing their value, cannot avail to make void the act of Congress.

IV. The states which by an act attempted to depreciate them, issued the bills as they received them from Congress, without any alteration on the face of them.—If they did not mean to redeem them according to the original promise, justice certainly required that they should have written on the face of the bills the sum they meant to pay. This omission precludes all just pretension to any depreciation on account of their acts: for how were the soldiers and citizens to know the acts of the different states which were never promulgated to them? We judged by the face of the bills, (as of a private negotiable note of hand) and had no reason for suspicion that any acts whatever could make void the public obligation which we held in our hands.—And in fact we never heard of any such acts until many a year after we received the bills.

V. If particular states can make void the act of Congress, it will at once annihilate all public faith, and render all written obligations, both state and national, a phantom.

VI. The state of New-York, (and we suppose many others) many years since paid the whole sum of the new emission bills she issued, in specie, both interest and principal, without ever attempting to deviate in the smallest degree from the promise on the face of the bills—the high principle of perfect faith directed her councils ;—and shall we not rely with perfect confidence on the same purity of faith in Congress?

VII. We presented our bills to the treasury for payment, according to act of Congress ;-we have waited until every other description of public obligations have been provided for ;-we might years ago have exchanged our bills for an equal sum in other certificates, which have long since been paid or funded; but as our bills contained the double obligation of state and Congress, we thought they were the best security—and moreover they bear the promise of the Union to pay the interest in sterling bills of exchange, which is generally better than money—It is a fact no part of the domestic debt is secured by greater, if by equal obligations— and public faith was never more strongly pledged on paper-therefore we justly expect the interest now due will be paid to us, or the principal and interest funded on equal terms with the final settlement certificates

At this triumphant period, when the United States are the admiration of the world, while prosperity spreads over our country, and the inestimable benefits resulting from our growing credit are the theme of all people, can it be possible that the rising fame of America should be clouded by a violation of faith to the holders of these bills, only to save a paltry sum to delinquent creditor states? It would save nothing to the Union. We will not, we cannot, entertain the unworthy idea of those who "rule the free."

OLD SOLDIERS.