The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-12-18

oeession when the same posponement Of the fourth
stament was made in the terms now proposed. There
would be eomniital at all aud he was Tor having
the postponement placed In the situation which ihis
amendment contemplated. that il should require The
action Of Congress to postpone il again; and Al there
should be surplus, would not be 10 the power OF one
House. Of the veto Of the Executive, TO prevent us
being paid over 10 the States When gentlemen talked
OF committing the Government they were comnited
already. They say [continued Mr.. Il that we are 70
have no more SURPRISES That IL might be so but IN
of the elections lately held at his State he heard
Il argued that in had another surplus we ought
TO have SubTreasury, IN order that the banks might
not get il expand their issues He, for one, would
not TO put out Of the power Of Congress to
pay this fourth nsalment, If both Houses thought II
right do would he agree 10 put il in the power
Of the Executive veto to prevent the States from re-
ceiving this money.
Mr.. CALHOUN felt very little interest as TO what
disposition was made Of the motion He willing
to postpone the fourth ins,alment for year or TO post
pone indefinitely in the bill or to repeal the depo-
site law altogether That act had performed It's func-
tons, and there was now no reason for retaining II on
the statute hook. He had apprehension that there
would be any surplus to dispose OF between
this aud the year lS42 and for many years thereafter
and If any gentleman would repeal Of the bill
he would cheerfuy vote for IT, That act had perform
ed most important part II was not surprising tha
those who opposed II OH its passage should condemn II
now but he was, he confessed greatly surprised to hear
~
!, as deceptive Sir. said Mr. c., there was no decep-
lion. II there deception, then am the deceiver
and trust that those who know me know that decep-
ton the last fault that could he charged with; that
whatever might be his faults he always moved directly
upon his object He never considered this act in any
other light than deposite but he ayowed, at the
time, that he never thought that this money would be
called for. except in OF with some European
power Sir, said Mr. c., after having openly made this
avowal little expected to hear it said that deception
ALL
cessary ths political disease that preying
the vals Of the community and doing more TO cor
rupt the public morals than any evil that had beaen
since the beginning of the Government. It was de-
parnre from that sacred principle. deeply so in our Go
vernment, OF raising more money by taxation than
was necessary for the economical support Of the Govern
ment, that had caused the evils this act passed to
correct II in 1924 and 1928 that that sacred prn-
cipe was departed from, by which the Asatc portion
OF the Union, the South had just been called was SO
deeply depressed and extravaganza and waste introduce
ed into our system Of expenditures. II was not the
distribution act which had produced the late pecuniary
embarrassments. both public and private. It the
acts Of "a and % which violated this principle, and by
which, out Of an import OF sxtyfour millions In one
year. thirtytwo millions passed into the Treasury rails
ed out Of the Southern staple, which tax beyond
what the most despotic Government earth had ever
levied What was the effect Money overlooked IN
the Treasury, that the utmost extravaganza Of Con-
gress was insufficient to get rid Of It, He heard an no.
norable member Of the other House say, that it would
better raise this money and throw in the ocean,
than not keep up the protecting tariff What followed!
Why in spite of the most exravagant appropriations
Congress could not possibly expend the accumulated
surplus Two propositions were made to dispose OF IT.
for all sorts Of extrayagant expenditures, and
the other was the plain, simple honest plan OF returning
It TO the people, from whom it came and that was the
deposite act The possession Of the surplus was the
curse, and those who had voted for the tariff laws Of
1924 and 1928 were responsible This arrested the
surplus revenue, and more, stopped the transfer Of
millions of the public into the hands Of specula
tors who got hold Of the public money, and with it
bought up the public domain This was the true state
OF things and he glad Of having opportunity Of
making this explanation Then the banks suspended
specie payments, and this had been attributed the de-
posi.e act. He wished to speak with candor He had
no doubt but the depose and the specie circular
celebrated the explosion of the banks but accelerat-
ing II limited the evil, for il the explosion had been
delayed SIX months longer the calamity would have been
three fold greater 1t had been said that the Treasury
was destitute Of money He admitted that the Govern
ment was forced into the necessary virtue Of economy
and instead Of being able to expend millions exrava
gantly, 1t must now limit its expenses to Just and neces
sary objects But he spoke what every knew when
he said that there had been melancholy deterioration
OF the public morals for the last twelve
this had arisen from the injurious policy Of drawing
more money from the people than necessary Tor tho
Government He would not dwell longer on this ques-
tion but would only remark chat, when the future his
torian write the history OF this country, from
1928 to this time, this measure, so condemned now,
would be considered Of tie wsest and best
TINT had been brought before Congress. In
all this he wished TO be understood saying that there
not in that chamber who opposed
10 distribution than he He rcsored 10 1t as a
remedy rendered pperiousy necessary by the existing
state Of things The act having accomplished its OBJ
ject, he willing that it should be repealed, and the
sooner it was done the better
Mr. CLAY, OF Kentucky, concurred in some
things said on both Sides and differed in several
Whatever might have been the motives of others, he
voted for it as an act of distribution. He did not
share in the grief expressed for its passage he had
no regrets about his vote on this measure. he
thought with the Senator from South Carolina, Mr.
Calhoun that it had been of much benefit. He
voted for it with the view and belief that the money
gin from the Government to the States. His
only regret was that the fourth insalment was not
paid that the States had not the nine millions due
them from the Government. He said the tariff was
not the cause Of the surplus, and the subsequent en-
barrassments Of the country 1t was the result of
fatal experiments" Of the Executive branch OF the
Government. There was another meaSure-the land
bill-hat would have prevented a surplus. This
bill, which had passed both branches Of the Legisla
ture, but which General Jackson retained in his
possession-and which he had no doubt would have
received the sanction of the constitutional majority
of Congress- had ii been re,urned-would have pre-
vented surplus. There would have been no dis
ribution of surplus and no decentralization of pub
lie morals The distribution act was necessary and
proper, and should be called an act to save from
wasteful and extravagant expenditure the amount of
money so deposited with the States. He thought
that the instalment due to the States could be paid
and paid in the time proposed in his amendment. II
could be paid by strict economy in expenditures
Bring down the annual expenditures TO the ssl3,O00,-
000 of Mr. Adams's administration, or even 10 the
SIS, 900 900 proposed by the administration of Gen.
Jackson in 1881 Stop the leaks Stop the leaks in The
Treasury. Stop the flying Sub-treasurers, and, my
life on il, you will have abundance of means to meet
the ins,alment. Mr.. C. in conclusion, hoped that
IL.