Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1836-08-06
YHE DEPOsITE BILL.

makes the states the dePosaries Of all the public
moneys that may be in the Treasury on the LIST of
January 1887, with the reservation Of five mil
lions Of dollars. The faith of the State is to be
pledged to pay back the money whenever it shall
be required by The Secretary of the Treasury.
BY an amendment TO the bill, introduced by our
Senator, Mr.. Walker,-an amendment for which
oil the new States should thank hinl-the money
Is 10 be deposited with the States in the compound
ratio Of their respective representation in the Sc
nate and House of Representatives. This will
give TO the State of Mississippi nearly double the
amount she would have been entitled to, had the
federal raiio been adopted. The amount which
will be deposited with her. supposing the difficulty
which her constitution opposes to the reception OF
the money, in pledging the faith of the State, to
be cotton over, will be about 272,0C0 dollars.
This is upon the hypothesis that there will be
surplus Of twenty millions in the Treasury
As temporary measure-and the operation Of
the bill is limited TO one year, and we trust there
will never be any necessity for re-enacting it
we can acquiesce in this distribution of the sur
plus. We know that great difficulties attended the
subject. An immense sum Of money, accumu-
lated by the present unnecessarily high tariff, was
lying idle in the treasury. For the good Of the
country, for the advancement of trade and com
merce twas highly necessary that this sum should
be thrown into circulation. How was il to be donel
The constitution provides no remedy for such "a
case, II anticipates no redundant treasury; it was
obviously the intention Of its trainers never to
raise from the people, one cent more than was in
dispensably necessary for the ordinary expenses
Of government. The case was an entirely new
one--without parallel in the Legislation of our
own or any other overnment--ditliculties envl-
roned il on every side, and the scheme finally
adopted out Of the many proposed, seems to
have been kind of compromise between the con-
flicting parties. II cannot be considered loan
10 the States, for no interest is required for the
amount deposited, much less can il be looked
ION as gift or distribution, for the faith Of each
State is to be pledged to return the money when
ever Il may be demanded by the Secretary Of the
Treasury. AS q temporary measure therefore,
we say that we can acqulesce in II, though ex-
uemely Objectionable in many respects. If ii
should be intended to be made permanent as
system in the legislation Of the federal government,
we would denounce it in the strongest terms as Of
the most fatal tendency to free institutions. II
would inevitably prevent the passage OF any bill
for the reduction of the price of public lands,
measure Of the greatest importance to the new
States, and which our able Senator, Mr.. Walker,
abored SO indeatigably to get passed, at the late
Session; ii would most probably supornduce an
increase Of the present tariff, and last though not
least, il would make the States the stipendiaries
Of the general government. The way to get rid
Of the difficulty is to reduce the tariff, and the
price Of the public lands--to cut down the re-
venue 10 the actual wants of the government.
Mr.. Walker takes statesman-like view of the
subject. In letter to the editors Of the Mis-
sissippian, dated June l7th, he says;
II 20 for reduction of the revenues Of the gen.
eral government by reducing the price Of the pub
lie lands and reducing the tarih--and against dis
tribution in every form and shape. There will
be twoparties, a reduction party and distribution
party. am for reduction only, for if You dlstri-
butte YOU will nerer reduce; but if we do not dis
tribute, we must speedily reduce, for the people |
am sure will never consent to the collection from
them Of millions of unnecessary revenue. II DIR.
Claws land bill passes the House, President
jackson will again veto it. If Mr.. Clay's land bill
were out OF the way, reduction Of the price OF
the public lands would, in my opinion, be easily
procured at the next session of Congress"
Mr.. Clay's land bill, we believe, is now out
of the way. and We trust that our interchangeable
senator viii succeed at the next session in his
laudable attempt 10 secure a reduction Of the
urice Of the public lands. DO that, and cut down
the present i'll arranged and unnecessarily high
tariff. and We shall hear no more Of surplus
revenue.
Since writing the above, we see from the report
OF the Secretary Of the Treasury, that the actual sur
ph,s on the LIST Of January next will be only about
fourteen and half millions. Vi course the amount
70 be deposited with this State, will be considerably
N-Iess thar the estimate above.
o. We have to return our thanks to several Of
our contemporaries, for the kind notices which they
..Aaye taken Of the improvement in our paper We
asanSe our Editorial friends, that although we have
made slight alteration in the name of our paper
die psinciples which it has heretofore advocated re-
main tie same. We have hung our flag upon the
outer wan, and there it shall continue to wave, SC
long as ne can WELD grey goose quill in 1T
defence.