Richmond palladium., 1836-12-24

> THE sum, WIN The exception NJ i've mtlli0ll
; VIII be transferred ~ ,hs several states !
Naoovdnnoe VIII the provisions VI the NJ
regulating ths deposl,rs of,hs public n,onsy
y The vnsnpsndsl balances 0tapCrorrlalhi
ied NJ 4tA0a6.0G ., es0ssdlnn by AD,asa. .O0s
ths N,NOunt wllloh WI bs lslV IN Tho dsposI,
banks, subleOl ~ Tho draft NJ ihs Treasurer u
ths United ktn,ss. Nftev ths contemplate,
transfers Nv the several h,Ntss HrW ,Nnde. n
therefore, ths future receipts should not b,
sulhuteNt ~ meet these outs tNndlnn and II,
tuvs appropriations, there may be MM,h u nv
aesslty ~ Use 4 portion Of Tho lands deposIts,
with The Mates.
The consequences upprehcnded when M,
dcrosl,s not of ths last session received n N,
lnoian, nrprovnl. hNvs been mIserably ten
- NJ The surplus moneys NJ the u. hia,es IN
lho k'nie 'Cfonsury Tor safe kpepIng, uni,
they mpy be wanted Tor the service VI the
General Government, u hRs been extensive.
IVY spoken NJ ~ aN act ~ give The money IN
the heverml states, md they have been Hdvis
cd ~ use u ~ u gitt, without regard ~ the
msnRs Of rslunding II when called f6r. Such
a suggestion has doubtless been made without
y due consideration Of the obligation Of the
dePosits act, and without a proper attention
10 the various principles and interests which
ave affected by u. II u manifest that tho
law Itself cannot sanction such suggestion,
and that, ~ II now stands, tho States have
no more authority IN receive and use those
'lcposites, without intending to return them,
thn0 any deposlte bank. or any individual
churyed with tho safe keeping
or application ol the public money, would
now have for converting tho sumo 10 their
private use, without tho consent ind against
the will Ot tho Government. BIT, indcpcn.
IDENTIFY Of the violnti n ot public faith and
moral obligation which nrr involved in this
suggestion, when examined in reference toI
The terms Of the present dcposite net, it isl
believed that the considerations which should
govern the future legislation Of Congress on
his subject. will be equally conclusive n.
yainst the adopt ion Of any measure recogni.
ting the principles on which the suggestion
nus been made.
Considering the intimate connection Of the
subject with the financial interests OF the
and its great importance in whatev.
cr aspect it can bc viewed, have bestowed
upon IL tho most anxious reflection, nnd feel
i to DO my duty to state to Congress such
thoughts as have occurred to me, to Md their
iclbcrntion in treating it in the manner best
calculated to conduce to the common good. i
The experience Of other nations admOnisl,.
IS Us to hasten the extinguishmcnt Of the :,
public debt. But it will! be in vain that we
nave congratulated each other upon the dis.
appearance Of this evil, il we do not guard
,eainst the equally great one Of promoting
The unnecessary accumulation OF public rev.
snuc. No political eaux:m.:is better establish
ID than that which tells us that m improvi.
lent expenditure Ofmoney 10 the parent Of
prohlgacy. and that no people can hope to
ocrpetuate their liberties who long acquiescc
N policy which taxes them for objects not
,n~aoaavv t<> tho 1out nd rnal or 4
heir Government. Flattcring as is the con.
li:iOn of our country ut the present period,
because Of its unexampled advance in all the
steps Of social and political improvement, it
be disguised that there is lurking
ianger already apparent in the neglect Of
his warning truth, and that the time has ar.
lived when the representatives Of the people
should be employed in devising some more
appropriate remedy than now exists, to avert
Under our present revenue system. there
$ every probability that there will continue
% be a surplus beyond the wants Of the Gov
'rnment, and It has become our duty to de-
,de whether such = result be consistent with
he true objects Of our Government.
Should surplus be permitted to nceumu- I
ate, beyond the appropriations, it must be :
ctained in the Treasury as It now is. or dis
rihuted among the people or the States. ,
To retain it in the Treasury, unemployed {
n any way. is imprncticabe. 1t is, besides.
gainst the genius Of our free institutions to
ock up in vaults the treasure Of the nation. I
ro take from the people the right Of bearing |
rms, and put their weapons Of defence in {
he hands Of a standing army. would be scarce.
Y more dangerous TO their liberties than tu {
ermit the Government TO accumulate im.l
,ense amounts of treasure beyond the sup.
lies necessary 10 Its legitimate wants. Sucl
treasure would doubtless Be employed, at
shen opportunity tempted ambition. II
TO collect u merely for distribution 70 the
tates, would seem 70 be highly impoli,ic, Nj
~ 90 dangerous 40 the proposition 70 retain
In the Treasury. The shortest reflection
rust satisfy every one ,ha. 10 require The
eeple 70 pay Mses 10 the 0evernmees|t