Lexington union. (Lexington, Miss.) 1838-18??, 1839-07-13

uCSSutO y VuuuiNutW, uhu puviiS"Su - -
cUlar "to the voters Of Kinds county,
from which thefollowing is an extract:
g have ever been ain advocate OF tile
leading measures Of the present admins
tration Of the General Government, and
now give my preference to Martin Van
Buren, for the next president, believing as !
do, that he viii carry out the principles
upon which the Government has been adj
ministered for the last eight years" u Now
what were the leading measures of the
Administration? Opposition to the Uni
ted States Bank-oppostion to the Tariff
and Internal Improvement by the Gen
eral Government. In these three meas
ures / was with the Administrator with
all my power and influence, however fee
BILE they may have been: aud ! have as
yet seen no cause TO produce change in
my opinions, but every day have seen and
do see reasons that rivet conviction upon
my mind stronger (f possible) that they
are and have been correct.
i was in favor Of and voted for Mr.. Van
Burenafor the Presidency, and am now in
favor Of the leading measures ofhis Admin
istration, only one of which conceive il
necessary now 10 notice. The sIndepen-
dent Treasury system appears 10 be the
absorbing question, and tie one which is
to be made tbetest Of election between MIR.
Van Buren and his opponent suppose)
Mr.. Clay, and in order to satisfy those
who have perhaps been impressed with the
| belief that am no demacrat, and 10 make
proof moro full, | will venture to intrude
upon those of them under whose inspection
this may fall, short sketch Of my views
upon the subject. The public revenue has
accumulated largely since the extinguish-
men. Of the public debt, and the impor-
lance greatly increased Of fixing upon a
proper plan for housekeeping oft. The
public debt, so long as it remained unpaid,
served as kind ofreseryoir into which all
the surplus might be safely deposited,
which might accrue beyond the annual
expenditure. II mattered but little there's
fore, so far as the commercial interest OF
the country was concerned, whether one
bank or another had 1t on deposite; for no
bank could expect but that it would be
called Cor at fartherest in six months, to
pay the expenses Of the Government, or
redeem some OF the stocks falling due
against it. But the aspect Of affairs has
changed now, the national debt is paid of
and discharged, and il is quite evident that
suitable place Of depositc at that time,
might be very objectionable now. Our
revenue will always be fluctuating because
Of the manner Of its derivation. 1t is de-
rived principally from duties on importa.
tlons-and, as our mercantile men are
subject TO impulses, they must have their
floods and GIBBS in their importaiIons, and
with this tide the revenue must Of course
rise and fall. Place this surplus money
in any bank, either national or state bank,
as general deposite,and they will certain
ly loan upon il. And whenever ii shall
happen that there are heavy and excessive
( importations, an imitation Of currency will
be the consequence, which will awaken a
spirit Of speculation and unsettle all the
standards OF business, as sad experience
| has already shown US. An importer will
pay the duties upon one cargo ofgoods, the
money received by the officer will be pla-
ced in the deposite bank as general de-
posiie, and Immediately loaned TO the same
or another importer 70 pay for another
cargo, or, if the revenue is received from
| the sale Of public lands, the price received
for one section is loaned out to pay anoth
err. A reference to The list Of sales Of pub
1 lie lands, previous to the extinguishmen
Of the public debt, will Illustrate this. A
no time antecedent 10 the year 1885 di'
the amount Of sales ofpublic lands exceed
| three millions Of dollars. For two year
succeeding '35 the sales amountedt to abou
thirty-four millions. 1861
In two years, ending December, 1885
too many goods were imported, as 2
evidence Of which no importations Of an
/ amount we're had for the next Is months
r and still We heard no complaints for 70
: want Of foreign goods; there were as man
NJ or more in the country than we Feopl
n were able 10 pay for. The market was
: filled up with imported goods during "a
d Is months, that 40 sales scarcely could .
had for those Of The production Of The Un
. ted States. Prostitution of the manuia'
,f| tories. and the want Of market for the pr
n duce Of the farms ia the North and Soui'
& west FOR two years, was the consequence
III For the heavy importations that WEI
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