State journal. [volume] (Montpelier, Vt.) 1831-1836, 1836-11-29

sphere, but firmly resolve, so far as my
feeble efforts can avail, that this session
shall be prolonged till January next, unless
this important, this aIl-absorbing and cx-
citing subject, can be disposed Of.
Mr.. YOUNG said he was in favor Of tic
amendment proposed by the committee,
it being the only method yet presented TO
his mind, whereby the people could avail
themselves Of the full benefits intended by
the offered bounty, but if gentlemen would
make some proposition for amending the
bill which should appear more congenial
10 the interests of the people, he would
reject the present. But no such plopos-
ton having been made, he was bound to
support the present, for want Of a better.
The question as now presented, involved
merely discussion of all that portion OF the
bill proposed TO be stricken out, viz: that
which purported 10 make an appropriation
of the money, by dividing it amongst the
several towns.
The subject was Of vast importance, not
only as respected the amount Of money in
question, but also as respects the manner
in which it should be appropriated, to sub
serve the best interests Of the people, both
Tor the present, and also for the future, in
case we should be permitted long TO enjoy
it, without a recall from the Uuited States
Mr.. Young said he was not used to talk
inc with million Of dollars in his mouth,
and therefore might appear awkward on
the present occasion; bat being constrain-
ed by the Importance Of the subject, he
should not hesitate TO declare his senti-
ments, however crude and ill-digested they
might appear.
Mr.. Y. said very iavorte expression
was ahoat, especially in the atmosphere a
round the state house, that this money was
the money OF the people; he acknowledged
the truth Of the expression, but repudlated
the application which some gave it. 1t
was not the money OF any particular por-
ton Of the people, but OF the Whole people
of the United States. They lad accumu-
lated it in their treasury and having at
this time a surplus, which was lying use
less, or without profit, they had agreed TO
deposit the same with the several states
according 10 their population, and let them
put it to use for their own benefit, until the
people Of the United States should see fit
to recall it, And the ob,igation-the
pightcd faith of the state to return the
money when called lor,-was the only ten
ure bv which we could receive aud hold
the money, if we received it at ALL And,
however gentlemen might iiatter them
selves and others that the money would not
be recalled, yet prudence dictated that the
state should be placed i'll the best attitude
for refunding it with the least inconveni-
ence to the individual members OF the state,
in case it should be recalled.
This, then, presented two important
questions, viz: 1st, Was there probable
ity, however remote, that the money would
be required of the state, and ID, ltrequi-
red, in what way and manner can the mon
ey be most iudicously invested, so that the
state can repay it with the least inconveni-
encc TO its citizens, and they in the mean
time receive the greatest interest or benefit
from the use of the money.
The probability that the money would
be called for by the United States, was not
to be wholly overlooked or denied. Such
a contingency might happen out of the
multitude Of prospective events which al
ready stare us in the face but should nei-
ther Of them happen, Vermont would
doubtless be called upon for the money
The disproportion Of the population Of the
United States from the present, at no dis
tant period, might induce a recall Of the
money for the purpose OF a new distribu
ton; for il must be manifest on moments
reflection, TO every man, that the cmigra-
ton from the Atlantic states, and especial
~ from New England and the great influx
Of population at the west, and the valley Of
the Mi sissppi, will shortly produce Il
great dsproportion Of population from
what it now is. And can we expect tlat
people will long permit their money to re-
main thus disproportonatc, when they have
the power-when the very nature OF the
contract is, that it may be called in and u
gain equaized!
Again: the South has long been jealous
of the enterprise, and hence Of the increas-
ing influence of the North and East. For
this rcason-lor the purpose of cramping
our commercial enterprise, they forced up
on us the protective system to induce a
shift Of capital from that Of commerce to
that of manufacturing. 1t had the desired
effect; and yankee enterprise and ingenul-
ty at once seized upon the intended evil,
and converted it into the greatest good; and
while no loss occurred to commerce, mani
ulactureS sprung up in every quarter, and
produced 4 prosperity which astonlshed
both friends and enemies.
The South became again jealous, even
to a threatening of nulhficaton and dis
union, which could only be appeosed by
compromise for the reduction OF the protec-
tive tariff, by regular gradation, to end
in 1912, at which time we have no reason
TO expect there will be longer surplus for
division among the States, or the people
Add TO this, that we have no reason to eX-
pect in future as ample sales from our pub
lie domain in the west, as have been made
for short time past which reduction must
shortly leave lis without surplus, even with
economy in the public expenditures; and