US Presidency
1830

A different practice, if allowed to progress, would ultimately change the character of this government by consolidating into one the general and state governments, which were intended to be kept for ever distinct. I can not perceive how bills authorizing such subscriptions can be otherwise regarded than as bills for revenue, and consequently subject to the rule in that respect prescribed by the Constitution. If the interest of the government in private companies is subordinate to that of individuals, the management and control of a portion of the public funds is delegated to an authority unknown to the Constitution and beyond the supervision of our constituents; if superior, its officers and agents will be constantly exposed to imputations of favoritism and oppression. Direct prejudice the public interest or an alienation of the affections and respect of portions of the people may, therefore, in addition to the general discredit resulting to the government from embarking with its constituents in pecuniary stipulations, be looked for as the probable fruit of such associations.