Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1832-03-15

f. ltlllfl we commissioners Dl lite Sinking
Fund. To apply the surplus ofany ycar to the pur
ehase oi tbo tlrrr per ceui, stock particularly, bur
leaves them mt hhtny 3" 10 nppiy such surplus to
the purehnac otapg portion Of Tire public debt, at
susll rates at. ia their opinion may be adyantn-
seous To the United States tbs e,sts disc5s-
'tg,.atV authority Ia be exercised under oiciaI res
possibility. And II my So. start otlbc 1roasu-
~ wton hc had the option oi purchasing portion
81 lie debt helrln" higher Of interest, at par
n about par were to execute tie aetby purchasing
tt three per cruti, at IL pfe4tnt price, he would
mrfil impeachment. Undoubtedly a suite Of fnct
mdy exist, such as there bcne no public debt re-
manning 10 be paid but the three per cent stoek with
a surpIu, IN the Treasury, IDLE aud unproductlye,
III which 1t might be oNpedient to apply that sur
plus To the reimbursement Of the three Der cents
But, whilst the interest of money Is nj a greater
laia lhau three per cont II would not | think be
Wlse 10 produce an accumulation ofpublie treasure
Ion such purpose. Thrposponement of any re-
dnclun 81 the amount of tie revenue ut this session.
must however give rise 10 that very accumulation
and II t. thcpcorc that cannot perceive tie utility
oi the po3ipuurmCut
W. are lo,l by The gentleman from Maryland,
TINT uii.t have hrcu made 10 the Secretary Of the
Treasury to exchange three pr cents At thclr mar
ket rre of9G per cent for the bank stock Of tho
Government at ls market pler, winch Is about I26;
and he tlul.s 1t would bc WIS 10 aseept them il
the charter OF the Lapl IA renewed Hint .lorI, win
be probably worth much mo- ,l3n ,ta r,esrot
nrlte If not renewed much lrss " onl,I II be- i..t
IN Governments whilst Tho question ~ nt ndn, anal
undecided DluaI,c such nm rXrla4ef The d. fer
enee III value bctwcon a stock bearing three percent
one bearing seven pen cent. mol h. rally much
greater than the difference bcWrcn qGN rs percent
suPposng them to be perpetual annulles, the nc
would Ie worth moro tb,, t,,Ife tAe ,,lpe Of ti.
other But NV objection la the Treasury t,lan ;.
TINT II IA not necessary 10 c,,rnte to continue,
these duties. as the Secretary proposea Tic Sc.
rrlnry has a debt of twenty four mIllIone 10 nav
he Lns from the nccrunp ,f,Ilfs Of fbIs qoar four
teen millions md we are now told by the senator
FINN MARYLAND that thi.tpn II f.,,yf,,, n,iIlioue
~ ,.xr,,Itn ofnnvoflbr dUf5,s nr,,l,ng tlia year
lie propo.cs Ia u,I.c eelt million. bv n snle oC the
bank sacl, md tn autieInat from, the rc,,nuc, re-
r,l,.ble next wear tvo null .,a,,s moro These
three items. lhon of fourteen moagelgh, milIjone.
md Two millions mako un tic sum reonired "a
tWcni, four mIllous without the n5d Of the duties
Ia ,yhI,h tho ,,.nIltiur rrlaf,s
Thu gentleman Gon, MARYLAND insists TINT tho
f,rnernl Government has been Thorn toward, the
We,t IN its Of n,,e lands for inter-
nal improvements and as 10 Qualifications he con,
tends that the ,nrndltures near the mouth of IN.
Ml,slssippi ARE for lts rsperlal benefit The M
ol land to Tho Sinfe, Of Ohio lndinnn.
illno,s and Alabama. hive been liberal butt ia
not 10 be oye,locl,cd that tho General Government
u Ilselflhc greatest propri,tor Of lnad. and that
tendency of,he inproyements. WhIel. these nppro-
rlations were to effect Is 10 Increase the value of
tie unsold publlc domain. The erection of the for
tifcation, FIR the defence Of ouis ma was higL1y
proner but the gentleman might as well placr to
II account of the West the Disbursements for the
Qualifications intended To defend Baltimore phila-
delphin and New York. 10 all which Capitals
Wr,l,rn nro,lce i. sent. and m the security Of all
of winch the Wca,en Peonle feel A lively interest.
Tiny do not object to cxplnd,furcs for the nrprv.
for the navy for lo,tGcatons Of for any other de-
fenslye or commercial object on the Ainntc. but
bry do think tint Their condition onoht also to no.
erlye friendly attention from The General Cove ,-
men Wuhrc spcetto the State Of Kentucky. ula
one cent of money. or one acre of land. has b f
applied TO any object Of Internal lnllroycm
v,,thin her limits Thu subscrint ,on Ia the stoc
the euunl "A o,ii,, He ,,as for an object IN Which
mnny States were inleresledz-1h Senator from
MARYLAND COMPLAINS Tint he las been unable To
obtain amy md for the rail foad which the enter.
nr,a or B,Ittrorc Inns nroieeted mud IN mart cxecu.
ted Tint WAS a prent worn. the conception of
which WINS hold md hioblv honorable and il de-
serve. national announcement Eut how has The
Committee Of Roads and Canas, at this session
been eon.titut,d7 The Senator from MARYLAND
possrsscd a brief authority 10 organize it, aud, if
nm not ni.mlorncd. a minority ofthe mcmbl re-
eompo,n, If. apponteI lyb.m. are orposcd both
10 The consrl,utonal,ry o ihe power and The cxpe-
dlen,y ofexcrcisrpg il
A nd now, sir | would address a few words 10 the
friends Of the American system IN the Senate
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