Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1836-12-13


thug 10 eo,nirnss'e iu ilr disadvantages ., whc,
] hssv adver'cd u We consider the pca~ctive du
! i've. which sre IN great degree. the ~,urce O
The surplus revenue, beneficial iu nc ~ci,or ,d H.,
Uae'p. and prejudicisi To- soaihrr, tberv ~ M, r,
rrclive CO.. the rvii in such y rsn of distribution
On tic contrary, there Is reason 10 lear that nj
/ the complaints ~heh have sprung rroa, I'M.
cause would be aggravated Every one mus, h.
scashle thai distributor of the surplus must icgr,
dIspssiir'n Ia cherish the means which create IL:
nd any system, therefore, into which Il entr s. must
have powerful tendency, 20 increase, rather Than
diminish the tariff u II were even admitted tia,
ihr advantages NJ such n system could br m,de
equal ." NJ nc sect M If Uni ,t,i. rr,>,n al
ready - urgently ca lug r.Iuct On nfthr rev.
enue, would. nevertheless lb,Sc none of their r,rcc
t'r " WI always I've Improbable u at an inte,lyrnt
sud vTin"uS community can chn ent a. RI sr snr
Plus nr the mere purpose at dividing i, din, shed
!, niusi inevitably BE- by The expenses of y,ri,u,
machinery necessary far The pror-ss.
The safest and simplest mode of ohva,iny nil ,h.
difficulties which have beru u-ultoned - Ia Collier
ony revenue enough tn meet the wants nf the my
eminent, and The people keep the balance of the.
property N Their own hands tu he used Cor their
pr'h'' Each Stale will Then "upp.ri ils own gov
rrnWeni. aud contribute it's due share towards I'm.
support NJ the gene nj government. There wound
he ~ su"n''is I" tramp and lessen the resource of
dIvidnal wealth and enierprize, and the banks
, "oun NE e'i !" 'heir ordinary means. Whatevrr
a1ia'mns anu hnc'uaions might arise from our un-
tort mate paper system. they could never le aim
hued justly ar unusly to the aciin of III. federal
government There would br some au,tspty Tina,
ihe sptii oi "hi speculation that seeks 10 convert
tie surplus revenue nio hank cauilaI wnulJ ~.
rt'ctna.y chico ed and that the scenes of d-nnt,l-
Ha'"n which are nov 81 prevalent through the
land. would disappear
Wrhnut desiring tn conceal that rxprrience and
observation oi the last two venrs have o,rta,.d
partial charge III NV views upon this inerc, n,,
Sn'Jrt u ~ nevertheless regretted that the s,,t,,s.
'ons maze 10y me III my anual neSsag al 1899 aud
is3ohave been greatly misunderstood. At that tim
the grca' struggle was begun agains, that ati,udi-
harlan construction Oi the Constitution which au.
fn'rzes the unlimited Appropriation of the revenues
~ me unhn To internal improvement within the
States, tending 10 invest in the hands and mac,
under the control ofthc general government ali the
prnripal roads aud canals Of the country, in viola
non "f state rights and in deroge ION Of state nu-
ihori'y. Al the same time, the cnndilion of TN,
manufacturing interest was such az Ia create nm
apprehension that the duties on Imports could no,
without extensive mischief, be- reduced in seas,,n
In prevent the accumulation of considerable sur
plus alter the payment of the national debt
In view Of the dangers OF such a surplus. and
IN preference Ia IFS application to internal i'm
provements in derogaion of the rights aud powers
oi The states. the suggestion of an amendment oc
the constitution Ia authorize It's Distribution vas
made. II vas an alternative for what was deemed
H""''' c'S--a temporary resort IN relieve
"verburl"ned treasury until tire 'yn vrrnmen, could
wlihou!a sudden and Obstructive revuIs,u in b,,spps
ol the country, gradually return 10 the Just prn
cipe "i raising n" more revenue from the people
IN taxes, IN N is necessary E'r IT'S onorca sup
port Even That alternative was NOT spoken oi bur
IN conntction with an amendment oi the cnnItu ion
No temporary Inconvenience can Justify the rxer-
rise of prohibited popo- L., ,ia, tu-
sruneni; and II was from conviciion that the DOW
or Ia distribute even a temporary surplus OF that
cd nnv
with an appeal Ia the source of oil Ieyal power IN
the general government, the states which have es-
tahlished it,
N" 81. b appeal has been taken, and in my opn-
non distributions of the surplus revenue BY Con.
gress, either To the states The people is Ia m con-
sldered as among the prohibitions. of the cons,it,,
non Az already intiinaied. my views have un-
dergone change, so far as To be cnv inceG thai M
alteration of the constitution in this respect is wise.
"r exptdenf The influence of an accumu'atinr
surplus upon the legislation Of tie general govern
mehi anu The States liz effects upon the credit sys
lem The country, prpducin. dangerous extensions
ana ru'nous cnniractiOns, fluctuations IN the Dric.
"i property, rash speculation. dleness extrayayiuc,
and dei' n rnation Oi morals. lave taught ,is ths
important lesson that any transient mischief which
may attend the reduction of revenue Ia the wants
{" our government, is To be borne preference to an
Overflnwing treasury
rg leave Ia Call your attention to another sub
lect intimately associated with the preceding one
the currency of the country.
II s apparent, from the whole context of the con.
siiiu'ion, as well as the history of the times winch
gave birth Ia II. that il was HE purpose of the con
veniWn to establish rency consisting of the pre-.
ci"us metals These, from their Peculiar properties
which rendered them the stu ,iald of value 10 all
other countries, adpnIrd in ihiSas well to es,ab.
ish its commercial standard IN reference Ia fore yn
coun RES by permanent rule, Ia cxciu e the use
ol muiabe medium of exchange, s,cl, as Of certain
avrculieTa commodities, recognized by the statues
81 some states tender for Debts ar the still more
pernici'us expedent ri paper currency.
The last from the experience of the evils ~ the issues Of
piper during the reyouton had bcc0ne ty
not only to suggest the clause TIE forbid
ding the emission Of bills IT credit State but Also 10
produce that vote IN the convention VI ch ncglrd the
pr position I" grant power I" tonpt I" charter corpora
onsa proposition we'll understood the time 70 inie
ed Ia auth"riz- the establishment Of national bank which
WINS 10 issue currency of bank notes, on capital Ia be
created 10 nf stock. Although
his proposition refused by direct vote rth.
ton. tbs object afterwards effect by IL, in
grnions advoca'r' iongh strained construction of the
constitution The De Ia Uf the revolution ~ ded at
pisces which famed no equv'"ut eoupred the
NAL amount Of tie stock and under which
etP"srd the motives some ofth1s pIird the pt
saae &C the act I" d,sirui
THO facts that the value The stock greatly