Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-01-19

ing as it constantly is, in population and wealth, are
abund0nty sufficient TO meet any debt which 1T may ever
prudenty contract, cannot be doubted. And its pune
tuality and probity, from the period of the assumption in
1870, of the debt of the revolution, down TO the present
time, rest upon a solid and incontestible foundation. The
danger, perhaps, is not that it will not fairly meet its en-
gagements, but that, from an %inordinate avidity, arising
from temporary causes, it may bring discredit upon itself
10y impfovident arrangements, which no prudent man. in
the management of his private affairs, would ever think
Of adopting.
OF the residue of that twenty .forr millions of deb,
after deducting the thirteen millions of three per cent,
less than two millions are due, aud of right, payable within
the present year. If TO that sum be added the moiety
which becomes due on the 3lst of December next, of the
$4,A5i,727, created by the act of 10Th May, 1924, we
have but 4 sum of about four millions, which the public
creditor can lawfully demand, or which the Govern
ment is bound TO pay in the course of this year. L more
is paid, it can only be done by anticipating the periods of
its payment, and going into the public market to purchase
The stock. Can it be doubted that, if you do so, the vigil
liant holder of the stock, taking advantage of your anxiety.
VIII demand Il greater price than its value? Already we
perceive that the three per cents. have risen to the extra
ordinary height OF 96 per cent. The difference between
Il payment Of the inconsiderable portion remaining of the
public debt, in one, two, or three years, is certainly not so
Important as to Justify a resort to highly disadvantageous
terms.
Whoever may be entitled 10 the credit of the payment
of the public debt, | congratulate you, sir, and the coun.
try, most cordially, that 1t is so near at hand. 1t is so
near being totally eXtinguished, that we may now safely
inquire whether, without prejudice TO any established DO.
hey, we may not relieve the consumption of the country.
by the repeal or reduction of duties, and curtail conside-
raoly the public revenue. In making this inquiry, the
FIRST question which presents itself is, whether it is expe-
dent TO preserve the existing duties. in order to accumu-
late n surplus in the treasury for the purpose of subse-
quent distribution among the several States? think not.
I the collection, for the purpose of such Il surplus, is 10
be made from the pockets of one portion of the people, TO
be ultimately returned to the same pockets. the process
would 5o attended with the certain loss arising from the
charges OF collection, and with the loss also of interest,
whilst the noney is performing the unnecessary circuit
ana II would therefore be unwise. If it is to be collected
from one portion of the people, and given TO another, it
would be unjust. lfiti is to be given to the states, in their
corporate capacity, TO be used by them in their public ex.
peiluillre, l Know oil no principle in the constitution
which authorizes the federal government TO become such
a collector for the states, nor of any principle of safety or
propriety, which admits of the states becoming such re-
ciplents of gratuity from the general government.
The public revenue, then, should be regulated and n
dapted TO the proper service of the general government.
1t should be ample for adeficit in the public income. al.
ways TO be deprecated, is sometimes attended, as we know
Wen from history, and from what has happened in our
own time, with fatal consequences. In a country so IA
pidly growing as this is, with such diversified interests.
new wants and unexpected calls upon the public treasury
must frequently occur. Take some exouhrles from, III.
session. The state of Virginia has presented a claim. for
an amount but little short of a million. which she presses
with an earnestness demonstrating her conviction gifts Jus.
ice. The state of South Carolina has also a claim for no
IhcohSideraple sum, being upwards of S 100, 600, which
she urges with equal earnestness. The gentleman from
pennsylvania, (Alr. Wilkins) has brought forward claim.
arising out OF French spoliations previous TO the con.
venhon OF $500, which is, perhaps not short of five mil
lions, and 10 some extent L have no doubt it has a lust
foundation. In any provision of a public revenue. CON
gress ought so TO fix it as TO admit of the payment of no.
evade.
4 hNFN; u"' tidl HilntT III III adjustment OF the DnDIc
revenue or, what would be preferable, in the appropria-
ton ot the proceeds of the public lands, efectual and ner-
manent provision will he made for such internal improve
ments as may be sanctioned by Congress. This is dine
TO the American people, and euphatically due TO the
western people. Sir, temporary causes may exact a re-
nsiSaSfSGfB St9fbff td28is5 to objects off nitternal improve.
nent, but as certain as you preside in that chair, or as the
Sun performs It's diurnal revolution. they will not he satis.
fed with an abandonment of the policy. They will come
mere and tell you, not III a tone of menace or duplication.
but III the language of conscious right, that thew must
share with YOU in the benefits, as they divide with Won tbe
burthens ndthe perils ola commong government. TRev will
say that they have no direct interest in the e,pend;tnres
Tor the navy, the Notifications, nor even the army. those
greatest %absorbants of the public treasure. That they are
not indifferent, indeed, TO the safety and prosperity of any
part OF our common country. On the contrary. that eve.
ry portion OF the republic is indirectly, at least. Interested
in the welfare of the whole and that they ever svmnotbize
IN the dlstresses and rejoice in the happiness ofthe most dis.
IAN qJlnrterof the Union. And to demonstrate that they are
not careless or indifferent to interests not directly their
own, they may triumphantly and proudly appeal to the
gallant part which they bore in the late war. and noint IN
the bloody fields on which some of their most botr;o,ic
sons nobly fell, fighting in the common cause. But tbev
"iil also say, that these traternaland just sentiments ought
to be reciprocated by their Atlantic brethren. That these
ought not to be Indifferent TO the welfare of the west. and
That they have the same collateral or indirect interest in
lis success and advancement that the west has in theirs.
NAT IL does not ask internal improvements to be exclu.
slvey confined to itself, but that it may receive. in com.
mon with the rest of the Union, a practical benefit in the
only form compatible with its interior condition.
The Appropriation of the proceeds of the public lands.
or a considerable portion of them, to that object. would be
a most natural and suitable disposition. And do hone
Ef 'I8e NhAN EAlAL Jul VIII W. ZIG TlAf ami nnnUnn-l
ted to some national purpose worthy of the republic. Ut
terly. opposed, as trust congress will shew itself to be. to
all the mad and Wild schemes-and TO that latest but
maddest and widest of all, recommended by the secretary
OF the treasury, for squandering the public domain. | hone
1t Will be preserved for the present generation and for nos.
terlty, as 1T has been received from our ancestors. n rich
and bountilul inheritance. In these halcyon DAYS of peace
and plenty, and on o~verAowing treasury, we appeor 10
embarrass ourselves in devising visionary schemes for
casting away the bounties with which the GOODNESS Of
Providence has blessed us. But, sir, the storm of war will
come when, we know not the day of trial and difficulty
VIII assuredly come; and now is the time. by n prudent
forecast to husband our resources, and this. the greatest
OF them all. Let them not be boarded and hupeed with
a miser $ embrace, but literally used. Let the public lands
ne administered in n generous spirit, and especially TO.
wards the states within which they are situated. Lei the
proceeds of the sales Of the public lands be applied. in q
season OF peace, TO some great object and when war docs
come, by suspending that application of them. during lis
continuance, you will be at once put i'm possession of means
Tor ITS vigorous prosecution. More than twenty-five veors
ago, when first took a seat in this body, / was told. Inv
the fathers OF the government, that, if we had any thing
perfect IN our institutions, it was the system for dispos;nS
OF the public lands; and ] was cautioned against rash in.
novations IN 1t. Subsequent experience fully satisfied mo
OF the wisdom Of their counsels, and that all vital changes
in it ought to be resisted. s
Although it may be impracGcabIe TO say what the exoc,
amount OF the public revenue should be. for The future
and what would be the precise produce of any Given svs,
tenn Of imposts, we may safely assume. that the revenue
may nowb be reduced, and considerably reduced THE .
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