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Story
November 16, 1842
Republican Herald
Providence, Providence County, Rhode Island
What is this article about?
Political critique accusing the Whig party of rapidly increasing the U.S. national debt from $6,203,000 in March 1841 to $26,439,000 within 18 months, despite prior claims of fiscal responsibility and denying debt under Van Buren.
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OCR Quality
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Full Text
The National Debt.—See what the whigs have done during the few months that they have been in power. Is this the economy and frugality that should be found in a young and growing nation, and yet there have been no unusual calls for this extraordinary expense? Let it be remembered that every dollar of national expenditure comes ultimately from the pockets of the people. If they are continued in power, they will burden the nation and the State each with a debt that will be like a mill stone fastened to our necks.
In March, 1841, when the whigs came into power, the only debt in existence, or claim on the government was:
Treasury notes outstanding $4,500,000
Debt assumed for the District of Columbia 1,703,000
Total $6,203,000
Not another dollar was owing, and at the extra session, July, 1841, Senator Evans, of Maine, a whig, and chairman of the Financial Committee, said that the charge of a forty million debt against Mr. Van Buren was a mere phantom; a humbug! The Whigs took the government with a debt of $6,203,000
In eighteen months they added to it 20,236,000
Present whig debt $26,439,000
In March, 1841, when the whigs came into power, the only debt in existence, or claim on the government was:
Treasury notes outstanding $4,500,000
Debt assumed for the District of Columbia 1,703,000
Total $6,203,000
Not another dollar was owing, and at the extra session, July, 1841, Senator Evans, of Maine, a whig, and chairman of the Financial Committee, said that the charge of a forty million debt against Mr. Van Buren was a mere phantom; a humbug! The Whigs took the government with a debt of $6,203,000
In eighteen months they added to it 20,236,000
Present whig debt $26,439,000
What sub-type of article is it?
Historical Event
What themes does it cover?
Misfortune
Fortune Reversal
What keywords are associated?
National Debt
Whig Party
Van Buren
Senator Evans
Financial Committee
Treasury Notes
What entities or persons were involved?
Whigs
Mr. Van Buren
Senator Evans Of Maine
Story Details
Key Persons
Whigs
Mr. Van Buren
Senator Evans Of Maine
Event Date
March 1841 To Eighteen Months Later
Story Details
Whigs assumed power in March 1841 with national debt of $6,203,000, including treasury notes and District of Columbia debt; Senator Evans denied Van Buren-era debt; within 18 months, debt rose to $26,439,000, criticized as burdensome expenditure without justification.