The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-09-19
From The Paghkeepsis IN. ~ Joas,
&
PRESIDENTS MESSAGE.

Long before this sheet reaches them most
OF our subscribers will have read the Mes
sage, and become conyersant with the views
of President Van Buren,. Whatever differ
ence OF opinion may exist in reference 10 his
doctrines as embodied in the Message, none
will deny that the document itself is able and
explicit. There are no marks of that non
committalism, which has so often been charged
upon the President by his political opponents,
nor is there room 10 believe that he is desi-
rous Of avoiding the responsibilities Of his sta
ton. His positions are well taken, and they
are sustained in the most skilful and ingeni-
GUS manner. 1t is at once argumentative and
polished, and exhibits degree of intellectual
power, that cannot fail to rank its author
among the most able Of our public men, We
have never believed Mr.. Van Buren, to be other
than an accomplished statesman, and we are
proud TO exhibit this evidence of his talents
and skill. We must, however, be permitted
to remark, that his reasoning ingenious and
plausible as il is, has failed to convince us of
the propriety OF some Of his suggestions Our
readers are already aware, that we regard the
Sub-treasury scheme as incompatible with the
best interests of the people, to whom every
possible protection should be extended by the
recipients of power. We are DESTROYS of re-
tanning the most intimate connection between
the governed and their rulers, between the
people and their servants. No measure cal
culated to weaken the accountability of the
latter, to give them unnecessary privileges, or
to render them independent of the people, can
meet with our appreciation If the revenues
of the government are kept down to its wants,
Mr. Van Buren, supposes that ten millions of
specie may be sufficient for its ordinary our
poses. But can you rely on any measures
devised for graduating the revenue? Derived
as 1t is, from duties on Imports and from sales
OF public lands,' it must vary in amount, and
is liable to fuctuate from various causes Cal
culations based upon the present times, must
fail for seasons that are brisk. A few months
Of over-trading would swell the revenues, and
then the Treasury overfows with specie,
which neither contributes to any useful end,
nor is essential to- the wants of government.
So much excess as lies in the Treasury is not
only Withdrawn from circulation, but weakens
the paper superstructure of the States. The
specie basis IS not, and should there be panic
or pressure, look at the result The State
Banks, which furnish the currency for the
people, are crippled by the action Of the GO
vemment, and should they fail to redeem their
issues, the people are the sufferers; while
office holders, contractors and dependents of
the government are furnished with the specie. |
So long as our revenues are derived as under
the present system, SO long it will be impos-
sible to graduate them to the mere wants of
government, and so long, of course, shall we
be exposed to accumulations that must inju-
riously affect the currency of the States. At
tempts to preserve the ratio will lead to con-
slant tinkering of the tariff, result as inevi-
table as it must be disastrous to the business
interests Of the Union. Bit we have not time
to record the many objections TO separation
of the government from the interests of the
people. The consequent increase of execu-
tive dependents, with an annual addition OF
at least one hundred thousand dollars of taxes
to sustain the Sub-treasuries, will readily pre-
sent themselves as barriers to the adoption of
the plan recommended in the Message
These, with others that may offer, shall be
presented through our columns, that our read
ers may draw such conclusions as their iudg-
ments shall sanction The question of col
lecting, safe-keeping and disbursing the pub
lie revenue Is question about which the
friends Of the administration may reasonably
differ We regard it as question of mere
erpediency, and believe that Congress will
view it in different light from the Executive.
The subject properly belongs to them, and on
them we rely for such disposition of it as
shall be productive Of the least embarrassment
and best subserve the interests of the whole.
With Mr.. Van Buren,, we can truly say, "the
subject is OF great importance and one on
which we can scarcely expect TO be as united
In sentiment as we are in interest. 1t de-
serves a full and free discussion and cannot
fail to be benefited by a dispassionate COM
parison of opinions" and with him we can
promise reasonable cooperation" with
our friends, in sustaining such measures as
Congress in their wisdom may devise.
On the subject of National Bank, the stand
taken by the President is deserving of all
praise, and we hazard nothing in saying, that
on that point, the friends Of the administration
are united and firm.
However we may have viewed the bill de-
posting the surplus revenues with the States,
and however strong may have been our objec-
tons to the ratio of distribution, we are con-
strained to fear that Withholding of the Oc-
tober instalment may be productive of serious
inconvenience. Many of the States have ap-
propriated their whole apportionment, and a
step calculated to interfere with the arrange
ments Of any, whose legislature is not in ses-
sion, may add to existing embarrassments.
There arc however forcible reasons for with
drawing the deposite entirely, and we can but
hope, that whatever action is had in reference
to the bill, there may be as little collision with
existing interests as the nature Of the case
will permit.
OF the other recommendations of the Mes
sage, we are inclined to believe that of ssu-
ing Treasury notes will be concurred in by
Congress, and if adopted with proper details as