Thank you for visiting SNEWPapers!
Sign up free
Editorial
September 28, 1802
Alexandria Advertiser And Commercial Intelligencer
Alexandria, Virginia
What is this article about?
Editorial urges Congress to investigate the sale of U.S. bank shares, questioning motives involving Treasury Secretary Gallatin's failed Dutch loan, treasury deficit from tax repeals, and opposition to non-commercial revenue sources, highlighting substantial financial loss to the United States.
OCR Quality
95%
Excellent
Full Text
It is to be hoped, that when Congress next meet an inquiry will be instituted into the reasons which induced the sale of the bank shares belonging to the United States. Whether it was because Mr. Gallatin was disappointed in the negotiation of his Dutch loan, from want of credit—whether from the deficit in the treasury, from the repeal of the internal taxes—or whether from his opposition to the principle of the United States possessing any productive revenue not drawn from commerce. From what motive the transfer may have been made, certain it is that the United States have sustained a very considerable loss by the transfer, nor could they replace the stock, without the sacrifice of many thousand dollars.
(Gib)
(Gib)
What sub-type of article is it?
Economic Policy
Partisan Politics
What keywords are associated?
Bank Shares Sale
Gallatin Motives
Us Treasury Deficit
Internal Taxes Repeal
Dutch Loan Negotiation
What entities or persons were involved?
Mr. Gallatin
Congress
United States
Editorial Details
Primary Topic
Inquiry Into Sale Of Us Bank Shares
Stance / Tone
Critical Of The Sale And Call For Investigation
Key Figures
Mr. Gallatin
Congress
United States
Key Arguments
Possible Motive: Disappointment In Dutch Loan Negotiation Due To Lack Of Credit
Possible Motive: Treasury Deficit From Repeal Of Internal Taxes
Possible Motive: Opposition To Us Holding Productive Revenue Outside Commerce
Us Sustained Considerable Loss From The Sale
Replacing The Stock Would Cost Many Thousand Dollars