Lancaster gazette. [volume] (Lancaster, Mass.) 1828-1830, 1829-12-15
,e productive ofhazardous speculation and


esting subjects, local feelings and prejudi-
ces should be merged in the patriotic deter
mination to promote the great interests o.
the whole. All attempts to connect them
with the party conflicts Of the day, are ne
cessarily injurious, and should be discoupte-
nanced. Our action upon them should be
under the control of higher and purer mo-
tives. Legislation, subjected to such infiu-
ences, can never be just, and will not long
retain the sanction of a People whose &C
tive patriotism is not bounded by sectional
limits, nor insensble to that spirit Of con-
cession and forbearance which gave life to
our political compact, and still sustains it
Discarding all calculations of political as
cendancy, the North, the South, the East
and the West, should unite in diminishing
any burthen, of which either may justly
complain.
The agricultural interest of our country
is so essentially connected with every other,
and so superior in Importance to them all,
that it is scarcely necessary to invite to it
your particular attention. 1t is principally
as manufactures and commerce tend to in
crease the value ofagricultural productions,
and to extend their application to the wants
and comforts of society, that they deserve
the fostering care of Government.
4 Looking forward to the period, not far
distant, when sinking fund will no longer
be required, the duties on those articles OF
importation which cannot come In compe-
tition with our own>productions, are the first
that should engage the attention Of Com
gross in the modification of the Tariff. Oh
these, tea and coffee are the most promi-
nent they enter largely into the consump-
ton of the country, and have become arti-
cles of necessity to all classes. A reduc-
ton, therefore, of the existing duties will
be felt as a common benefit but, like all
other legislation connected with commerce,
to be efficacious, and not injurious, it should
be gradual and certain.
The publick prosperity is evinced in the
increased revenue arising from the sales
of the publick lands, and in the steady main
tenance of that produced by imposts and
tonnage, notwithstanding the additional du-
ties imposed by the act of 10th May, 1928,
and the unusual importations in the early
part of that year.
The balance in the Treasury on the lst
of January, 1929, was five millions nine
hundred and seventy-two thousand four
hundred and thirty FIVE dollars and eighty
one cents. The receipts of the current
year are estimated at twenty-four millions
six hundred and two thousand two hundred
and thirty dollars; and the expenditures
for the same time at twenty.six millions one
hundred and sixty-four thousand five humid
red and ninety-fiv dollars, leaving balance
in the Treasury on the LIST of January next,
of four millions four hundred and ten thou
sand and seventy dollars and eighty-one
cents.
There will have been paid, on account of
the publick debt, during the present year.
the sum of twelve millions four hundred and
five thousand and FIVE dollars and eighty
cents reducing the whole debt of the Gov
eminent, on the first of January next, to
forty-eight millions five hundred and sixty
five Thousand four hundred and six dollars
and fifty cents. including seven millions of
five per cent stock, subscribed to the Bank
of the Uuited States. The payment on &C.
count of the publick debt, made on the first
of July last, was eight millions seven humid
red and fifteen thousand four hundred and
sxty-two dollars and eigbty-seven cents.
1t was apprehended that the sudden with
drawal Of so large sum from the banks in
whichit was deposited, at time of unusual
pressure in the money market, might cause
much injury to the interests dependent on
bank accommodations. But this was wholly
averted by an early anticipation of it at the
Treasury, aided by the judicious arrange
ments of the officers of the Bank of the U nj
ted States.
This state of the finances exhibits the
| resources of the nation in an aspect highly
fattering to its industry, & auspicions of the
ability of Government, in very short time
to extinguish the publick debt. When this
shall be done, our population will be reliev-
ed from considerable portion ofits present
burthens and will find, not only new mo-
tives to patriotic affection, but additional
means for the display of individual enter
prise. The fiscal power of the States will
also be increased, and may be more extern
sively exerted in favour Of education and
| other publick objects while ample means
will remain in the Federal Government to
promote the general veal, in all the modes
permitted to its authority.
After extinction of the publick debt, it is
not probable that any adjustment of the ia
riff, upon principles satisfactory to the Peo-
Pile of the Union, will, until remote period,
| if ever, leave the Government without a
considerable surplus in the Treasury, beyond
what may be required for its current SER
vice. As then the period approaches when
the application of the revenue to the pay
| ment Of. debt will cease, the disposition Of
the surplus will present subject for the
serious deliberation of Congress and il
may be fortunate for the country that it is
vet to be decided. Considered in connexion
with the difficulties which have heretofore
attended appropriations for purposes Of in
ternal improvement, and with those which
this experience tells us will certainly arise,
whenever power over such subjects may be
exercised by the General Government, it il
hoped that it may lead to the adoption Of
some plan which will reconcile the diversi-
fed interests of the States, and strengthen
the bonds which unite them. Every mem
Der of the Union, in peace and in war, will
be benefited by the improvement of inland
navigation and the construction Of highways