Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1832-01-19

! OF the residue of tina: twenty four millions Of
debt, utter dcduct.ng the thirteen millions of
three per cent, less chan two millions are duc
and oil right payable within the present year
| Ii to that sum Be added the >moc,y which be-
comes due on the Glst OF December nest Of the
| Si.ija,7G7, created by the net Of 26,h M:Y
! 1894, we have bat sum OF tbout four millions
I which the public creditors can lawfully demand
| or which The Gov 'rnmcnt is bound tn pay IN the
course Of tits year. If more is paid. it can only
5c done bv au;icipatjnp the periods of is nay
mcut, and going into The public market to pur-
chase the stock. Can 1t h. doubted that. if you
do So" the yigilant holder d" he stock, taking adj
vantage OF your anxiety, will demand q greater
price than It's value? Already we perceive that
the three per cents have risen to tie cxtrao--
binary height Of 90 per cent. The difference
between Il payment Of The iuconsdcrabc per.
ton remaining of thc public debt, in one two or
three wears, is certainly not so important rs to
.Jus'uy a resort To highly disadvnn,ugcous terms
! Who"vcr may he entitled TO the credit OF The
payment oithe public debt, congratulate You.
s'r aud The country, most cordially that it is so
near at band. 1t Is 50 near being totally cy.in-
CUishcd, that we may now safely inquire whc-
thcr, without prciudicc to any established poli-
cy, we may not relieve the consumption of the
country, by the repeal or reduction of duties
and curtSil, considerably the public revenue In
naking this inquiry, the first question that pre-
scnt5 iteclfis, whether it is cxpedicnt to pre-
serve the existing duties in order to accumulate
a surplus III the Treasury for the purpose of sub
sequcnt distribution among the several Statcss
| think not. If the collection for the purpose
of such a surplus, is to be made from the peck
cts of one portion of the people, to be Ultimate
! ~ returned 20 the same pockets, the process
would be tended with the certain loss arts nr
/ 'rom the chnrges of collection, and with the loss
also Of interest whilst the money Ia pcrformnr
The unnecessary circuit; and it would therefore
- sp i - n no cot l. tod
iiun Of the people and given to another. it would
be u"iust. In Is 30 bc given to the States in
their corporate capacity to be used bv them in
their public expenditure, know Of no principle
II the Constitution which authorizes the Fedc-
raj Government 10 become such collector for
the States nor OF any principle of safety or pro-
Prlo;y which admits of the States becoming
such recipients ofgratuity from the General Co
verGNcnt.
The Public Revenue, then, should be rcruat.
ed and adapted TO the proper service ofthc &c
: neral Government. 1t should be ample; for a
3 deficit IN The public income, always to be de-
prccGtcd, l. sometimes attended, as VIC know.
well from history, aud from what has happened
10 our own time, VITA fatal consequences. In n
: country so rapidly growing this is, with such
diversified interests, new wants ard unex pcct ed
calls upon the ublic treasury must Frequently
occur. Take some examples from this session
The state OF Virginia has presented claim. for
III.
she presses with an earnestness demonstrating a
conviction Of its Justice. The State of South
Carolina mas also claim for no incOnsidcrahle
sum, being upwards of SiGO ,OOO. which she ur-
gcs with equal carnestncss The gentleman
from Pennsylvania MR. WILNiHs.) has broun ht
forward Il claim, arising out ofihe French Spo-
, hlioHS previous to the Convention Of 1900
which is perhaps not short of five millions, s. 10
some extent nave no doubt it has Just f3un-
=, iat'on. In any provision of q public Revenue
Congress ought so to fix it as to admit of the
, payment OF honest AMI proper demands, which
It's Justice cannot eject or cvadc.
| hope too that either in the adjustment OF
the public revenue or, what would be prefcra-
!, he in the appropriation of the proceeds of the
puhlic lands, eiiGc.ual and permanent provision
5 will be made for such Internal improvements
as may be sanctioned by Congress This j.
due o the American People, and cmpha;icolv
due to the Western People. Sir, iemporar,
causes msy exact a reluctant acquisescencc
from the People of the West, in the suspension
appropriations to objacts of internal improve
I, ment, bat as certain you preside in tina
! Chair, or as the SIM performs its diurnal revou
/ ton, they viii not be satisfied with an abandon
ment Of the policy. They Will come here an,
tel you, not in tone of menace or su2plica
lion, but in the language ofconscious right, thel
they mast Share with you in the benefits, as the,
divide with you TIE burthcns and the per:ls O
Il common Government. They will say tha
they havc no direct interest in the expenditure
, fn7 the Navy the F2rtfcatons, nor even th
. Army, those greatest absorbants of the pubic
treasure. That they a-e not ind iI,rent, indeed
to The safety AMI prosperity OF any part of on
common country. On the contrary, that eve
~ portion ofthc Republic is Indirectly, at lnas,
inter, ed IN the welfare Of tho whole; ana tha
they ever symPathjzn in the dsiresses and re-
Jpicc in the happiness OF the most dis
t2nt quarter of The Union. And TO dc
mons'a'c that they are not careless or
; indifferent To Interests net directly their own
+ they may triumphanl'Y and proudly appeal ic
the gallant part which they bore IN the latt
: war, and point to the bloody fields on whicI
some OF their most pltr Z" &c nnbiy fell firht
ing IN the common cause. But they will also
!. say that these fratcrnal and just sentiment.
ought to be rcc'procated by their Atlantic bre
thrcn. That hese ought not to be indifferent
to The welfare OF the West, and that thew have
the same collateral or indirect interest in its
'ccess and Advancement that the West has
III theirs. That it does not ask internal improve.
ments 20 be exclusively confined 10 itsef, but
tnal 1T may receive, in Common with the rest 81
>, the Union, pr9c' zeal benefit in the only form
compatible with its interior condition
The appropriation Of the proceeds ofthe pub
nc lands, or considerable portion Of them tc
that object, would be Il most natural and sujt
=, able disposition. Aud 10 hope, sir, that that
great resource will be cherished and dedicated
TO some national purpose worthy the RcDub
lie. Utterly opposed az. | trust, CONGRESS- will
show Itself to be to all tic mad and wild scheme,
--ani to that latest, but maddost and wiidcs
q aN, recommended by the Secretary OF tho
FFcasuay-f.r ,qnandcring the public domain,
hope T. vii we preserved for thn n-oeo,t ,,oror,