Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1840-01-27
MONTPELIER, JANUARY Fl, 1910.

of the spcndihriit who has wasted his patrmony
to give his note. ] lie President tells us tina, the
resources of the Government will be adequate to
It's wants. tell you they will not The Presi .
dent has much better opportunities of Judging
than have, and is under the same obligations 10
disclose the truth 10 the country. Now, sir, mark
the result, aud see who ID right. Before six
months we shnl he asked To- issue ten millions al
ieasr Of Treasury notes, or to make loan IN
other form. Why is the ruth not now told Ms |?
For no other reason than the shame Of the avowa
on the part of the President, thai, coming into
power in II time Of profound peace and general
prosperity with Treasury overlooking, he has
in three years expended thirty millions over and
above the acrrng revenue, and caused nm almost
universal ruin aud insolvency in the land There
was, when the President entered on The duties Of
his Office nine million, which was to he deposited
with the State, five millions Of surplus iesides,
aud upwards Of five millions due mud which has
ben paid 10y The Bank of the United states, and
there * now near three millions vi Treasury notes
outstanding, milking twenty-thrre millions to
which add At Ienst ten millions Tor the present
yeur, uui we have in three years Of this prof.sse d
economical Administrator an excess oi ex-
penditnre over income Of thrty.three millions
As to the future, look to with asnluir dsnlay
no eye can penetrate the gloom Of thai future
We must pay to England alone next year, for ex-
cess of imports over exports AMI interest on Suie
debts not less than sixty millions. The same pro-
dure cannot nay this deI,i and also pay for goods
from which revenue is to he derived and when
our produce fails, the debt only he paid il,
specie, and the specie will lie exported by nws OF
commerce, fixed aud certain destiny itself.
so certan sir of these results, that all other
feelings ARE forgotten in sympathy with tha sui
ferlngs ct the country aud II ! had an enemy
among The authors Of this measure J would de.
sire for him ~ other punishment Than that which
awn;ls him in the wrath and indignation of All n
bllscd and deceived people. That day Is coming
aud is not far distant, ard shall have no other il
desire no other, consolation than to he able Ia
say to those who have contided their interests ia
me- that have done all that could to avert these
cnanitps.
see no human power now to avert the mpen-
ding distress. Thin debt must be raid either with
oar productions then we cannot make our
usual importaOns, aud, of consequence, the de.
uiand of our cotton is cut off, and the article moi
only falls sill lower in price. bnt cannot be sold
AZ nllor else this debt mus, he liad in specie, and
thar, IN the present condition Of the country. will
he ruin at once; not to the banks, hut TO the PEG.
pie. Not repeat, to the banks, hut TO the PeO-
pie. II the banks are forced to pay, the People
their debtors must pay them The banks owe the
People onn hundred AMI fifty millints, the People
owe them five hundred millions On whom will
the bolt fall most heavily? IL will he y golden
harvest for shavers aud lisircrs they will iaitcr
aud grow rich upon the Suffering aud distress o
the community. They, aud they only, will be
benefited. And if am not mistaken, 1t is :his
class, together with those who either owe no mo
rey. or. it they do, are beyond the reach of the
law, and lnvc no sympathy with those who dc
owe. who ARE tie oUdest advocates of this mos
vital and dangerous revolution in the monetary
affairs OF the country; men who have most phi
losopl'ical aud praiSeworthy Indifference to the
siifferings of every one else but themselves M
Government has the right 10 make such an expe.
I,at,, .pE, la.
~ out amy theory, however plausible.
The dehs of The country were contracted upon
the faith of aud with reference to mn existing state
OF things which no Government has tic mora
light 10 suhvtrt all at once upon this authority O
ahy argument prioIt.
One word more MS TO the nine millions yet TO he
deposited with the States. like sometimes tt
look back rs well as forward Ii is often profita
bic Ia de- 30. We were told Two years ago thai
the ACT was not repealed. Oh no! The paymen
ouly postponed. And il was vaunted in my owi
State rs great achievement 10 postpone the pay
tnent instead of reiienling the law. When are ~
to get it, sir' No, sir, until the day Of Judgment
Or what is the thing, until your present sec
reiaIy shall put an end 10 the Florida war. No
sir, will freely forgive the balance Of that deli
ifihe Government eau only be kept along. re-
peat, sir tlnt no intelligent uan will say tlin, III,
resources for the next and succeeding years vii
iicrt our wants. Those resources are greatly
exaggerated, whilst the demands on the Trcas,irl
are underraird. From the excessive importation
OF the last yenr, lnd he universal pressure in on
none, market, added TO our inmeus. fnrrig,
deIi, the revenue from imports Tor the elisuin.
year must b. very small less. ] venture TO sn
thnn any one anticipates: very much less llan tn
estimate of the Secretary of The Treasury From
The pubic ln,ds look hereafter for little revenue
First, hecause NO much of tho public domain ha
gone into the hands of private SPECTATORS, win
will supcrsrde the Government in the market
bee tlSt, they own the besI lands, and can sell oi
credit and for paper money; and SECOND Y, he
cause these lands IRE like Ia he used by poliiicr
spccularnrs, rs the co2sin pubic grdneries wa
used in the days Of The decline OF the ltoinnn EN-
pire. No, sir, Instead Of reduced taxes shall h
forced 10 raise HE taxes aud, believe, M 10 til
extreme pou fixed by the compron sc ut 1892.
BY ilr-b, sir, ns 10 this tariff question: | wa
told hy mure than one who, think. enjoy IN
Presidents confidence, THAI the message woul
he up 10 the huh with The South on the taiff-
that it would even I've ultra WAS glad To hear i
! was glad 10 know that we were To gel ai iror
SO influential quarter, from whatever motive u
| owe no such allegiance pnrty or per>t nal - an
never will, ms To prevent the from rallymg to Ill
support Of hoso who rally 10 the support Of iu'
! principles looked for the passage hui locke
/ n vain. ! saw exactly the place for it, hut it wa
not there. No sir il was not there; hui in lis pla,
] found all those al captdndum arr uncnrs atot
! rendering ourselves independent Of Ihc currenc
and commerce OF England, which have herelofor
been mud may be again, used in support of pre-
terii'e tariff uore appropriately than they AZ
used in III mcssage for another purpose. Sir,
is degrading to the intelligence of nur age IN
country TO talk in this way. We had IN well TAI
OF ndcrng ourselves independent of the tides {
winds Of Heaven. Why let me ask, is this ant
tariff ground hot taken in the message? ] wi
tell you, sir. | have been given 10 underStan
tint il is because II very important political even
Is 10 lake place next autumn, and that the mo
oughly tariff States, Pennsylvania and Ohio
Stn'es now doubtful, to Say The least-will Ina,
all important influence upon that event, aud lh
\ it may not b, very discreet at this particular Tim
to take ground against the Tariff; and although i
doubtless POSSESSES all the other parts of vnlor, II
one hing nNrr hnnird 10 lie prnsldeni Tint heIiI