_The Major Figures on the "Nashinal Debt"--Horse Contracts and "Abolishin Preechers"--Banks Defeated--The Major Suggests a New Fashioned Shield expressly for Retreats--A Wheelbarrow for every Soldier!--Excitement in Washington--The President not Scared "a Hooter"_ WASHINGTON, May 26th, 1862. _To the Editers of The Cawcashin:_ SURS:--Sence I writ you last, I've been figering on the nashinul debt, and I tell you what it is, it is jest about the most intricit subjec I ever got hold of. I've used up two duzzen slates and about a cart load of slate pencils. Linkin has sent on to York for a fresh supply, and wen they cum I'm goin' at it agin. Squire Biddle's Bank warn't a primin to this war debt. You see the contracters and the pollyticians, and the Members of Congress and the Guvernors of the States, and the editers and even the Abolishin preechers are mixed up in it cleen to their ize. It's very queer how so many of these preechers have had hoss contracts. It seems as if Abolishin and hoss jockeying goes together. One pius chap wrote on the back of his contract, "An horse is a vain thing for safety. Put your trust in the Lord." I should think that such hosses as he furnished would be a vain thing for safety, for nigh about the hull of 'em was spavined, or ring-boned, or foundered, or had the blind staggers. I tell you it's edefyin to look over these contracts. Linkin has giv me a cart blank to pry into the hull subjec, but Chase squirms terribully wen I questshin him close. But I ain't got half done. The other day, as I was porerin over my last slate, which was pretty nigh sifered full, Linkin sent for me in a grate hurry. I started rite off, wunderin what on arth was up. Wen I went in, the Kernel had his cote off and his sleeves rolled up, an ses he, "Majer, do you know where I kin get a first-rate axe?" Ses I, "Kernel, I know where there is the best axe that ever chopped wood, but," ses I, "it's way up in Downingville." Ses he, "That won't do, Majer; I must have an axe rite off, or I shall bust; I can't live unless I work off this steem." I see the Kernel had on a high-pressure excitement, and ses I, "Hold on a minnit, Kernel, and tell me what on arth's the matter?" "Matter!" ses he, "jest read that, Majer, and tell me whether you don't think that that infernal cuss, Stantin, ought to be kicked out of the Cabinet?" I took up the paper and there was a despatch from Ginneral Banks, sayin how the rebils had licked him and was drivin him back like all possessed, and all because Stantin had takin away his troops and sent 'em away where they warn't wanted. Ses I, "Kernel, I have had a good deal of doubt about that feller, Stantin, ever sence he tried to get on your trowsers down at Fort Munrow. You see you can't never depend a grate deal on a turn coat. He once perfessed to be a pro-slavery man, but now he goes in for the Abolishinists even stronger than the Simon-pures. I tell you, Kernel, you better look out for him." "Wal,"