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Domestic News December 9, 1841

Lincoln Telegraph

Bath, Sagadahoc County, Maine

What is this article about?

Washington report on the Administration's new fiscal plan for collecting, safekeeping, and disbursing public money, providing limited uniform government currency based on deposits, receivable for public dues. President confident, but faces opposition from ultra Bank Whigs in Congress.

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OCR Quality

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Full Text

The New Fiscal Machine.—The Washington correspondent of the N. Y. Journal of Commerce says—We have had a version within a day or two of some difference of opinion in the Cabinet, concerning the "fiscal" project of the Administration; but I mention it only to express some doubt of correctness. At all events, it is well understood that the "new fiscality" is devised, agreed upon, and will be brought forward in a definite shape. The details, as to which there are many contradictory rumors, are not well known; but we know they embrace no corporate features, and that they are intended to provide proper means for the collection, safe keeping and disbursement of the public money and at the same time, to afford a uniform government currency, to a limited extent, to be issued on actual deposits, and to be receivable payment of all public dues. The President and his friends, it is said, express great confidence in the success of this plan.—How it will be received by Congress, we cannot tell. But intimations have already been thrown out of a warm and decided hostility to it from the ultra Bank Whigs.

What sub-type of article is it?

Politics Economic

What keywords are associated?

Fiscal Policy Administration Plan Government Currency Cabinet Differences Congress Opposition

Where did it happen?

Washington

Domestic News Details

Primary Location

Washington

Outcome

president and friends confident in success; anticipated hostility from ultra bank whigs in congress.

Event Details

Report on the Administration's new fiscal project, devised and agreed upon in the Cabinet despite some differences. The plan provides means for collecting, safekeeping, and disbursing public money without corporate features, and offers limited uniform government currency issued on deposits, receivable for public dues. Details amid contradictory rumors; to be presented in definite shape.

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