Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1826-06-05

| ism. Tic provisions of this bill are not to
have the effect of multpl, ing the numbers !of
the aged and venerable persons TO whom 1t
looks. Sir, they are dropping fast into the
| grave; your bounty will come too late to pro-
duce that effect upon them, which at all earlier
stage might have enabled them to bid dehance
to the various foes Of life: The most it can do,
will be TO sooth their decline. At all events, 1t
will not increase their number; and considering
who they are, would rather call it solace *
a comfort, than premium Tor old age.
am sorry, Sir, that we cannot SO further at
this time; that in making provision Tor the
surviving veteran, we cannot also make provl-
sion for the widow and children OF those who
are deceased Nothing but the well settled con-
viction, that the bill as already proposed 10 be
amended by my colleague, IS the best bill
which can be carried through the house, recon-
Giles me TO omit from it the amendment sug-
gested Yesterday by another honorable colleague
and friend (Alr. Dwight But, Sir, we must
be contented to do what good we can, and not
refuse 10 do any good, because we cannot do all
good. The case of tine survivors is case by
itself; il has been Investigated; their number is
nearly ascer,ained; and the appropriation pro-
posed is calculated 10 afford a certain relief to
IL.
the widows and children shall, by any honora-
BILE gentleman, be proposed to congress IN such
manner that we can also act with discretion
upon it, it shall not want my feeble ald
But, Sir, we have national debt to be pad
Oft he topic, in one view oil 1t, was treated
with great ability, by my friend from Maine;
and it was also very pertinently observed by the
honorable gentleman chairman OF the commit
tee, (Mr HEMpHILL, in the able argument with
which he introduced its discussion, that the
provisions of the BILL if carried into effect, would
not delay the payment Of the national debt, more
than sixty or ninety days. This national debt
is standing theme. / do not remember de-
bate or question of appropriation, this season,
not even on poor airs. Denny's pension, in which
the payment of the national debt has not been
re commended TO our anxious consideration
On this sub ject, therefore, will ask to be par
doned word | know, sir, it is sound re-
publican maxim TO pay off the national debt. l
am no believer in the proposition that nation
al debt is national blessing. 1t is in the spirit
of our institutions, that the Government should
stand in as few and simple relations as possible
TO the people, that there should be as little Co.
vernment as possible; that the people should do
as much as possible Tor themselves. 1t is Vi
olation of these sound doctrines, that Govern
ment should stand towards portion Of The CT
tizens in pcrpeluated relation Of debtorship 20
a vast amount. For this reason, it is desirable
to pay offthe debt: But as financial operation,
TO relieve or disembaTass the people, it is, IN
my present view OF the subject, little better than
a farce; almost as much SO, as the operations oil
the English sinking fund were at time when
vast loans were annually made; in other words.
when the money was borrowed 10 place in the
hands Of the Commissioners. Sir, you pay OH
FIVE millions of the national debt, we will sup
pose this year. What is gained by so doing?
You are relieved, (it will he answered) from the
necessity Of paying the interest on five millions
Of dollars. Granted, but where do you get five
millions By which you pay off so much of the
debt? you take it, Of course, by taxation, direct
or indirect, from the pockets of the people. In
other words, you deprive them Of it and the in
terest on il forever -Wh hat then have you gain
ed by the operation? You have taken sum oi
money out Of one pocket and put ii into the
| other | said ;his grave procedure was almost
farce. In its direct operation II is;-ln It's
remote results, it is great loss TO the country
The debt is now about eighty millions. Twen-
ty-fve years hence our population will be dou'
bled; our wealth., no doubt, much more than
double; but to be within bounds, let us say il
will be doubled. A nominal debt of eighty
millions, twenty-five years hence will be no more
! burdensome than one of forty millions now. In
other words, time and the happy progress Of
the country would ofthemselves reduce The debt
! if YOU would leave the thing to their silent ope-
ration, as fast perhaps as the public welfare de-
mands. By Fastening 10 pay the debt, we
I therefore increase the country's burden. No
member Of this committee will doubt that II
the debt were not redeema6le, it could be fund
ed al per cent This would be vi itself pay
ing near twenty millions Out Of the eighty; this
would be a gain indeed. But, no, MIR. Chair
man, we insist upon paying it oil now at per
cent However, Sir, do not wish to pursue
this subiect. am content TO have suggested
reason why the national debt may be left to
be considered at the proper time, when the re-
ports Of the Committee Of Ways and Means are
before the House. will only add, there is nc
analogy between the national debt and debt
between man and man. The national debt i;
the evidence of a capital consumed in the pub
lie service. No operation of finance can restore
what has thus, been destroyed. If the objects
for which this capital was consumed were good
the expenditure was wise and proper; if not, il
was improvident; but the paying or leaving Ii
unpaid, in no degrees affects the wealth of the
nation, except as have already represented it
and ought not therefore ever to come into con-
L. al.