US Presidency
1842

But to continue it in force while there is no such surplus to distribute and when it is manifestly necessary not only to increase the duties, but at the same time to borrow money in order to liquidate the public debt and disembarrass the public Treasury, would cause it to be regarded as an unwise alienation of the best security of the public creditor, which would with difficulty be excused and could not be justified. Causes of no ordinary character have recently depressed American credit in the stock market of the world to a degree quite unprecedented.