Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-12-11

ed 10 that end nn. has been so continued Ia the pre-
sent moment. The estimates and appropriations for
The year ISIS tthc irs. which had am coatrol
were somewhat diminished. The expenditures of !-.l9
were reduced SIX millions of dollars Those Of l-i0
exclusive of disbursements for public debt and trnst
claims, Will probably not exceed twenty-five and
half millions; being between two and three millions
less than those Of the preceding year, and
millions less than those OF 1857. Nor has it been
found necessary, III order to produce this result, Ia
sort to the power cnnerscd by Congress- of pospnnng
certain classes o! the public works, except by defer
ring expenditures t.. short period upnn limited
portion Of them; and which postponemcnt terminated
some time since, al the moment the Treasury Depart
mcni, ~ further receipts from the indebted banks, be-
came fully assured 81 lis ability them without
prejudice to the public service in other respects
Causes are IN operation which WILL il IS believed JUS
tliy still characterization. without injury TO any i'm
portant national interest The expenses Of sustaining
Tie troops employed in Florida have been gradually
and greatly reduced, through the perscgerng efforts Of
the War Department.; aud reasonable hope may be
entertained that the necessity for military operations in
that quarter will The removal Of the In
dams from within settled borders nearly com.
pleted The pension list, of the heaviest charges
upon the Treasury; is rapidly diminishing by death -
The most costly of our pubic buildings either finish
ed, nearly so and we may, | think safely promise
ourselves continued exemption from border difficult
ties.
The available balance in the Treasury the first Of
January is estimated al one million and half Of
-
during The next year, will it is believed, be sG
ficent TO enable the Government 10 meet every en-
gagement, and leave suitable balance III the Treasury
At the end Of the year, if the remedial measures
nccted with the customs and the public lands hereto
fore recommended, shall be adopted and the APP
preparations by Congress shall not carry the expend-
lures beyond the official estimates.
Tie new system established by Congress for tine safe
keeping OF the public money, prescribing the kind Of
currency to be received for the public revenue and
m adj and
cs, has now been several months in operation. AL
though il might be premature upon experience of
such limited duration, TO form definite opinion III re-
gard 10 the extent of lis influences IL correcting many
evils under winch The Federal Government and the
country have hitherto suffered, especially those tint
have grown out OF banking oypansions deprecated
currency, and official deacaons, yet II IS but right t.
sag that nothing has occurred III the practical opera
ton OF the system 10 weaken IN the slightest degree
but much TO strengthen, the confident antcipaons Of
its friends. The grounds 81 these have been hereto
fore fully explained, 10 require no recaptua;ion
In respect to the facility and convenience II affords in
conducting the public service, and the ability of the
Government 10 discharge through its agency every Gu
" attendant the collection, transfer, and dsburse
aent Of the public money with promptude and
cess, say with confidence, tina, the apprehensons
Of those who felt Il 10 be their duty TO oppose lis adop
ton, have proved 10 he un.ounded. On the contrary,
this branch of the fiscal affairs of the Government has
been and it believed always be- thus carried
changes and Improvements in the details Of the system
without affecting any principles n:oved IN II, Will BE-
submitted to you by the Secretary Of the Treasury,
aud will, am sure, receive at your hands that attfn
ton 10 which they may, cxdnnation be found 10 be
entitled.
| have deemed this brief summary Of our fiscal af.
fairs necessary 10 the due performance Of duty spe
cia!ly enoIned upon me by the Constitution. Il VIII
serve also, to illustrate fully the principles by
which have been guided in reference TO contested
thor
Development, and have been important in III If
consequences than any that have arisen under our
complicated and difficult, yet admirable system Of 20
ycrnnent: andc L. i National Deb, and National
Bank II in these that the political contests by
which the country has been agitl;cd ever since the
adoption Of the Constitution, great measure org
mated. and there - too much reason 10 appehenG that
the conflicting interests and opposing principles thus
marshaed, VII continue, as heretofore, TO produce 81
milar. II not aggravated consequences
Coming into office the declared enemy Of both, ]
have earnestly cndeavored prevent 10 either
The consideration that large public deb; affords IN
apology and produces, degree, necessity also,
for resorlng 10 system and extent Of taxation which
IS not only oppressive throughout, but likewise so
lead, in The end, 10 the commission Of that most
odious OF all offences against the principles Of Repnb
can Gnvrrnment-,c prostitution Of political power,
conferred for the general benefit to the nggrand,se-
mr.,t Of partcnlr classes and The qualification .. IN
d etLual cupdijy-is a.one sufficient, independently
2
urged 10 render creation and existence the
Of bitter and unappcasabc Gsco-d. j We add 10 tins,
lis inevitable tendency produce and foster eNtrava-
CANT expenditures ote public money, By which ne
cesslty created for loans, and new burdens on
the people: and finally, If we refer 10 the examples OF
every Government which has existed, for proof how
seldom IT that the system, when once adopted aud
planted in the policy Of country has failed to ex.
pand ITSELF until p.blic credit was exhausted, and the
people were no longer able TO endure lis increasing
n. II, II tIp uS.O
that no benefits resulting from It's career, extent o.
conquest no accession Of wealth to particular classes;
nor any, nor all is combined advantages, counter
balance lis ultimate but certain rrsuItsa splendid CO.
vernuent and m impoverished people.
If National Bank was, nndenla5ie, rcfad:ated
hy the trainers If the Constitution Incompatible
with the rirh's of the States and the Liberties Of the
people if from the beginning IT has been regarded by
large portions Of citizens coming IN direct col
son with tina, great and vital amendment OF tie Con.
sti;ution which declares that all powers not conferred
I bv that instrument on the General Government are
reserved 10 the States and 10 the people II has been
viewed by them the first great step IN The march 81
!atitudinous construction, which, unchecked, would
render that sacred instrument of little value as nm
unwr,ten Constitution, dependent, as 1t would alone
BE- for its meaning, the interested Interpretation Of 4
dominant party, and aiurcng no security 10 me t'9h's
Of the minority if sCc undenla5iy the case, "ha'
national grounds could have been concerned 'o a"ci-
patinr aught but determined opposition 10 such an IN
i s,l'ntion al the present day.
! Could different result have been expected when
tic consequences which have flowed from us creation
and particularly from lis struggles 10 perfenate us
issnce had confirmed in striking manner, the APP
prehens:ons of lis earliest opponents; when had been
so clearly demonstrated, that concentrated money
mower welding SO vast capital, aud combining snch
ipcalcuabc means of influence, may, IN those peculiar
coniuncturcs to which this Government IS unavodaoy
exposed prove an overmntch for the political power 81
the people themselves when the free character OF rs
capncitv to regulate, according to its wii and us ME
rests and the interests Of favori,es, the value ard
production OF the labor and property OF every man IN
Ms extended country had been fully and frarny
dcyeopcd when notorious that all classes Of 'n's
rrca, community had, b. means Of The power ana inu
epce il thus Possesses been infected to madness with
shirt Of needless specuation when i had been sep
that. secure the support Of The combination Of inn
cnces BY winch it surrounded 1t cnuid 'ioa'e us
charter and set the laws ut defiance with npuny; ana
when too it had become mos, apparent that TO believe
that such an accumulation Of powers can ever DE grant
ed without the certainty Of being abused was to indulge
! in fatal delusion,
To avoid the necessity of permanent debt, and rs