US Presidency
1842

While the Treasury is in a state of extreme embarrassment, requiring every dollar which it can make available, and when the Government has not only to lay additional taxes, but to borrow money to meet pressing demands, the bill proposes to give away a fruitful source of revenue which is the same thing as raising money by loan and taxation not to meet the wants of the Government, but for distribution- a proceeding which I must regard as highly impolitic, if not unconstitutional.