Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1831-12-10
TREASiTRY RFp0p3s


very interesting Report of Mr.. Mel ane II N able
and comprehensive; fuller Of holder views and more
original propositions than any other paper which
has emana,ed from that Department for thirty
ycars.--We must content ourselves with selecting
trom it few most prominent points--leavng the
whole paper, with commentaries upon il, Til next.
The Secretary estimates the receipts of the year
including the balance i'm the Treasury. in January
iastl at $3f,Ol4952 G2-aud the expenditures, in-
GLIDING Sl6,le9,2eo 81 disbursements to tho
public debt $780, POI 50 leaving in, the Treasu-
ny on the Is; next January S3,0i775l z-The ,choie
amount Of he Public Debt of The II,ited Sfofes will
then be S2t 22 235 Isle estimates tie receipts
of the next year at $50, l0O,00o--which, after de-
Quoting all other expcnces OF little more diam thirtee
millions, will leave Sl6,73l,797 81 applicable to the
public debt
He makes statement to show how tie whole
debt may be discharged before the termination of
the present Congress (3d March, 1888. v'-In order
10 effect which, he proposes sell out the millions
of stock owned in the US. Bank, which he puts
down asworh at least $e,C00,000.
lie gives it as has opition, rather that Of
the Secretary Of III Treasury studying only the best
mode of managing and distributing the Finances,
that it is expedient to recharer the Bank Of the L.
States
Otis Intended to assert that the Bank ofthe United
States MS at organized perfect that the
senal objects of such institution might be STAINED
by OF AN entirety one organized upon prr
principles and with salutary limitations IT must be cd
med, however, that the good management Of the present
Bank thc accommodation it has given the Governmen
and the practical benefits it has rendered the community
whether II may may no, have accomplished all that
was expected from -and de advantages OF It's present
condition. circumstances in its favor entitled to great
weight, and give it strong claims upon the considerations
OF Congress, any future legislation upon the subject
''fo these may be added the knowledge the present
Bank has acquired the business and wants Of the
portions OF this extensive country which, being e result
OF time and experience is advantage II necessarily
possess over any institution
alt is 10 be Observed that the facilities Of
capital actually afforded by the present institution the
agricultural commercial, and manufacturing industry Of
all parts of the Union could not be Withdrawn even by
transferring them TO anohernsitution, without
shock to each of those interests and TO the relations of
ccty generally"
1t is with much regret that we have seen this sug-
gestion of the Secretary of the Treasury TO re-car
ter an institution, which is contrary TO the Federal
Constitutions and which, it is at present organized,
is subject TO such serious objections.
lie estimates the necessary eXpences (thc debt bo-
ing paid Off at l3 millions and balf-but he propo-
to set aside, for other additional expences,
that he cnumerates the of l2 millions so as to
make an annual revenue of 100000 adequate to
the demand. He proposes raise this sum by imports
only. As to the public lands, he proposes to sell
them on moderate terms TO the States in which they
e-and TO divide the proceeds among the Suites OF
the Union. (ile seems to dePrecate, for the strong
est reasons, any other surplus for distribution lin
bringing down the tariff Of duties TO the necessary
point, he goes much at large into the subject We
should not do him justice by making hasty sketch
The following paragraph gives the nearest approxi-
nation 10 this sketch that We can make atprcscnt:
"Consderng the amount of labor and capital employed
in manufactures oil he greatest Importance the country,
and which have already contributed essentially TO our
defence and safety, and the general prosperity could
not be expected that they should be suddenly Abandoned
Regarding al the time, the diversity of interests
su!iing from the peculiar situation of the United States
the manufacturing interest itself should be content with
moderate and gradual protection rather by extreme
measures TO endanger the public tranquility. The indis-
pcnsable necessity OF The aid of the General Government
for those objects of acknowledged national
especially the improvement of the rivers and harbors
which are the great highways of the people--and 10
which the Of the several States both
and napplcahle, could he withheld without oppo-
sion to the opinions OF majority of the people, and
the Interests OF portions of the Union. the
same time admitted that this aid should be moderately con-
ercd and with proper Difference 20 opinions oppo-
site character And be doubted that cxeny
an exercise OF the pow of the General Government
over these objects would ultimately srbvert the consti-
tntiona sovereignty of the States IL must be acknow-
lodged that the medium all these subjects diff
cult of attanmei but in the desire SEEK and the
sagaciiy 10 adopt the best, consists the policy of
American statesman"
He advocates with much emphasis, and no incon-
considerable eloquence the advantages of sincere
consultative and mutual concession;
'Ihe measures OF the General Government in respect
TO the tariff objects of public improvements to the pub
lie lands, and to the Bank of the United States are tho
sources OF the existing socudc throughout the country
For the permanent adjustment of all manner TO pro-
mote the harmony OF all parts of the Union, elevate
The moral Character of the country the wisdom and pat
osn oil the Government and OF the People alone be
looked to-"
We should suppose thar no man can peruse this
document, whether he subscribes to most of his
propositions, or whether he repudates them with
out being struck with the energy aud talents il dis
plays.-l is a nlasterly effort, from mind which
has so recently been transferred from distant and
different sphere.
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