Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1836-12-16
VOL. X--No. 1875

Considering the intimate connection a.
the subject with the financial interests OF
The country, and its great Importance in
Whatever aspect it can be viewed, | have
bestowed upon it the most anxious reflec.
ton, and feel it TO be my duty to state TO
Congess such thoughts as have occurred
to me, TO aid their Ieliberaiion in treating
it in the manner best calculated to conduce
to the common good.
The experience of other nations admon.
ishes US to hasten the extingushment Of
the public debt. But it will be in vain
that we have congratulated each other up.
on the disappearance ofthis evil, If we do
not guard against the equally great one Of
promoting the unnecessary accumulation
of public revenue. No political maxim is
better established than that which tells us
that an improvldent expenditure Of money
is the parent of prohgacy, and that no peo4
pie can hope TO perpetuate their liberties
who long acquiesce in policy which tax
es them for objects not necessary to the
legitimate and real wants Of their Govern.
ment. Flatering as is the condition Of
our country Mt the present period, because
of its unexampled advance in all the steps
Of socia and political improvement. itcan-
not be disguised that their is a lurking
ppuIcUt III lIc ueyicCt "
this warning truth, and that the time has
arrived when the representatives of the
people should be employed in devising
some more appropriate remedy than now
exists, 10 avert it.
Under our present revenue system, there
is every probability that there will continue
to be surplus beyond the wants Of the
Government and it has become our duty
| L.. H... IL h.
tent with the true objects of our Cover.
ment.
Should surplus be permitted to accu-
mulate, beyond the appropriations, it must
be retained in The Treasury. as it now 10,
or distributed among the people or the
States.
To retain it in the Treasury, unemploy-
cd IN any way, is impra cticabIe' 1t is. be-
sides, against the genius of our free insti.
tutions TO lock up in vaults the treasure OF
the nation. To take from the people the
right of bearing arms, and put their weap-
ons Of defence in the hands Of a standing
army, would be scarcely more dangerous
to their liberties than TO permit the Gov
erment to accumulate immense amounts
of treasure beyond the supplies necessary
to its legitimate wants. Such d treasure
would Doubtless be employed, at some time.
as it has been in other countries, when op.
por'unity tempted ambition.
To coIcc, it merely for distribution to
the states, would seem to be highly ilnpolis
tic. if not as dangerous as the proposition
to retain il in the Treasury. The shortest
! reflection mus, satisfy every ono that to
require the people to pay taxes to the Cow
eminent merely that they may be paid back
again, is sporting with the substantial in
teresis Of the country, and no system
which poduces such result can be ex-
pected to receive the public countenance.
Nothing could be gained by it, even il such
individual who contributed portion of the
tax could receive back promptly the same
portion. But it is apparent that no system
of the kind can ever be enforced which.
will not absorb q considerable portion Of
the money, to be distributed in salaries
and commissions 10 the agents employed in
the process, and the various losses and de-
precautions which arise from other causes;
and the practical effect of such an attempt,
must ever be to burden the people with
taxes, not for purpo es beneficial to them.
but to swell the profits of deposit banks,
and support q band of useless public Off
GERS.
A distribution 10 the people is impracs
ticnb'e and unjust in other respects. IL
would be taking one mans property and
giving it To another. Such would be the
unavoidable result of a rule Of equality
land none other is spoken of, or would be
! likely to be adopted) Inasmuch as there 10
no mode by which the amount Of the indis
vidual contributions Of our citizens to the
public revenue can be ascertained. We
know that they contribute unequaliy. and
rule therefore that would distribute equais
IL would be liable to all the objections
wich apply to the principle of an equal Gi.
vision of property. To make the General
Government the instrument of carrying
this odious principle into effacl, would be
al once to destroy the means of it's useful
ness, and change the character designed
for it by the trainers Of the constitution.
But the more extended and injurious
consequences likely 10 result from policy
which would collect surplus revenue for
the purpose of distributing it, may be for
cbly illustrated by an examination Of the
effects already produced by the present
deposit act. This act, although certainly
designed to secure he safe keeping Of tho
public revenue. is not entirely free in it's
tendencies from many Of the objections
winch apply to this principle OF distribution.
The Government had, with necessity re-
ceved from the people large surplus,
which, instead of being employed as here.
tofore. and returned to them by means OF
the public expenditure, was deposited with
sundry banks The banks proceeded to
make loans upon this surplus, and thus
converted it INTO banking capital and in
this manner it has tended to multiply bank
charters, and has bad a great agency in
producing spirit of wild speculation. The,
possession and use Of the property out OF
which this surplus was created, belong to
the people but the Government has trans.
ferred its possession to incorporated banks,
whose interest and effort it is TO make
large profits out of its use. This process
need only be stated to show its injustice
and bad policy.
And the same observations apply to the.
d