Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-09-06


soarces Of the country, will be able 10 discharge,
puactually, every pecuniary obligation. For the fur
uve, all that is needed will be that cauton and Tor
bsasance in appropriations Which the oinnuuon OF
the revenue requires and which the complete accom-
pllshment or great forwardness of many expensive
national undertakings renders equally CONSISTENT win
prudence and patriotic llberallty.
The preceding suggestions and recommendations
submitted the belief that their adoption by con-
ercss will enable the Executive Department to con-
duct fiscal concerns with success, so far as theI
management has been committed to II. WHIST inc
objects and the means proposed 10 attain them are
within the constitutional powers and appropriate du
ties, they will at the time, il 10 hoped, by their
necessary operation afford essential aid IN The trans
action of individual concerns, and thus yield relief TO
the people at large in form adapted 10 the nature OF
our government. Those who nook TO the acton OF
this government for specific aid to the cltzen TO re-
lieve emba,rassments arising from losses by revul
sons in commerce and credit, lose sight OF the ends
for which it was created and the powers with which
it is clothed. 1t established to give security to
all in lawful and honorable pursuits under the
lasting safeguard of republican institutions.
1t not intended 10 confer special favSrs on In
divduas, or any classes of them; to create sys-
TENS of agriculture manufacturers or trade; or to en-
gage Ia them either separately in connection with
individual citizens organized associations. II Its
operahenn to be directed for the heneft OF any
one class, equivalent avors must, in justice, be ex-
tended to the res and the attempt TO bestOw such ia
with an equal hand, even TO select those who
full. All communities are apt to look TO government
for too much. Even in our own coHntry, where its
powers and duties are strictly limited, we are
prone to do especially atperlods OF sudden embar
easements and distress.
But this Ought not to be. The trainers Of our ex-
ccen, Constitution, and the people who approved it
with calm and sagacisus dellberatlon, acted al the
time a sounder principle. They wisely judged that
the less Government interferes with private pursuits,
the better for the general prosperity. 1t is not its e
gitaate object make rich, or to repair, by d-
grants Of money legislation in favor of partcu-
lar pursuits losses not incurred IN the public service
This would be substantially TO use the property of
some for the benefit of Others. But lis real duty
that duty. the performance of which makes good
Government the most precious Of human blessings
is 10 and enforce system OF general laws c.in-
establishment and to leave every citizen and every
interest reap under lis benign protection, the re-
wards of virtue industry and prudence
cannot doubt that this all similar occasions
the Federal Government will find its agency
ucive the security and happiness of the people when
limited the exercise Of its conceded powers In never
assuming, even for a well meant object such powers
designed to be conferred upon It, we shall
in reality do most for the general welfare. To avoid
every unnecessary interference with the pursuit OF the
citizen will result in benefit than to adopt meas
ures which could only assist limited interests, and
eagerly but perhaps naturally, sought for under the
paessure of temporary circumstances. IT, therefore
refrain from suggesting Congress any specific plan tor
regulating the exchanges OF the country relieving mer
camille embarrassmens or interfering with the ordina
nv operations Of foreign domestic commerce; is
from conviction that such not within the
constitutional province of the General Government and
that their adoption would promote the real and
manent welfare of those they might be designed to aid
The diic uties and distresses of the times. though
unauesonably great limited in their extent and
be regarded affecting the permanent prosperity
of the nation Arising in adegree from the transactions
Of eign and domestic commerce. it Is upon them that
they have chiefly fallen The great agricultural interest
has in many parts ofthe country suffered comparative
ly little and Providence intended display the
nGcence its goodness the of our greatest
need and n direct the evils by the
waywardness of man. aave been blessed throughout
our extendes territory with season of general health
and of uncommod fruitfuness. The proceeds OF our
great staples will furnish the Of Hqudafing
debts al home and abroad and contribute equally to
the revival ofcommercia activity and the restoration
of commercial credit. The banks. established
eddy Tor lis support deriving their pronis from IT, and
resting under obligations to il which cannot be
looked will feel the necessity and Justice of
uniting their energies with those Of the mercantile in
terest The suspension OF specie payments at such
time aud under such circumstances have lately
witnessed, could not be other than temporary meas
ure and we can scarcely in believing that the pc
Rod must soon arrive when all that solvent will
redeem their issues in gold and silver Dealings abroad
naturally depend and prosperity at home
1.-THE debt Of merchants has accumulated, their
credit impaired these fluctuations always incident
extensive exravagant mercantile transactions But
the ultimate security of such obligations does not ADM,
/
country the fruits of whose industry afford abundan,
means Of ample liquidation and by the evident n,eres,
of every merchant 10 sustain credit hitherto high
by promptly applying these means Ton It's preservation
! deeply regret that events have occurred, which
require me 10 ask your consideration OF such serious
\ topics. 1 could have wished that in making my first
communication TO the assembled representatives OF
nv county had nothing to dwell upon but the his
tory Of her unllloyed prosperity. Since is other
WISE we can only feel more deeply the responsibility
Of the respective that have been coniided 10
and under the pressure Of difficulties unite in invoking
the guidance of the Supreme Ruler of nations Ind in
laborng with jealous resolution to overcome the diff
culiies by which we are envroned
Ii is, under such circumstances a high gratificaen
10 know, BY long experience, that we act for people
10 whom The truth, however unpromisng, can always
be spoken with safety; for the trial Of whose patriot
never to desert public funcIionary honestly labor
ing for the public good. 1t seemsjus that they should
receive, without delay, any aid in their embarrass.
ments which your deliberations can afford. Coming
directly from the midst OF them, and knowing the
course of events in every section OF our country from
YOU may best be learned well the extent and ma
lure of these embarrassmens, az the most desirable
measure of relief.
am aware however that 1t is hot proper to dstain
YOU nj present longer tnan may be demanded by the
special objects for which you nvsned. To them
therefore, have confined my communication, and, be
levng it will not be your own wish TO extend YOU
deliberations beyond them, reserve till the usual pc
rod OF your annual meeting that general INFORM altos
on the state OF the MON which the Constitution re
quIres the 10 give NJ VAN bJkEN.
Washington, 4ih September, 1881.
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