The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1840-10-08

moment, we find with regret that the sheet
containing this portion Of the speech has
been mislaid or lost. We supply therefore
from memory, very brief, aud We are
aware, very inadequate outline OF The ar
gument.
The expenditures of this Administration
have been emlnenly wasleful and cxirava'
gapt. Over and above the Ordinary re,e'
nue. of the country, Mr.. Van Buren, has
spen, more than t,cenfy millions that reach
ed the Treasury from other sources.
specify
Reserved under The Opposite Act, S6,OOO,O4O
am Instalmeni of Surplus kept back, 9OOO,OO0
Payment by the Bank OF the United
States on its Bonds, 3'OVO'ooo
S2O,O0O00O
Blu, even this has been found insufficient
Cor the prodigaliIy Of the Administration,
and we had not been long assembled ~ Con
eress before demand was made upon II,
Notwithstanding the tiatieuug representa-
lions Of the Message and the Treasury Re.
port for authority TO issue ire millions
more Of Treasury notes aud tins, We we're
assured, if Congress would only keep with
m the estimates submitted by the Depart
menis, would be ample. Congress did keep
within the estimates: and vel, before we
broke ur. lntimailons came IRON the lTeh
suey tho. ,bey must have authority TO Dor
row, or issue Treasury notes, for four aud
half millions more.
This time even the friends of the Admin
lstralion dcmurred, and tually refused TO
grant tbs nes ald,-snd What then was The
alternative Why, after having voted sp
preparations for the vafoes branches OF The
public service all within the estimates, and
all Of which, lhey we're told, we're rndispen
sable, they conferred on the President, BY
a SPECIAL section, authority 10 withhold their
appropriations from such oil ecls as he pleas
ed, aud TO select at lis discretion the ob
lecis upon VII Oh money Should be eNpeud
ed. Enu,e authority vas thus gwen to the
President over all these expenditures, 10
direct contravenllon of that provision OF the
Constitution forbddiug all expenditure, ex
cepl by virtue Of appfopriatluns-~hlch II
II dad mean any Thing, must mean the spe
cihcaIlon Of distinct sums for distinct pur
poses.
Ia this way, then, II is proposed 10 keep
back from indispensable works fur and a
half millions, Which are, nevertheless, an.
Ipropnated, aud ~hteh, with the five millions
ef Treasury notes already issued, will con
sliiute a debt Of from moe 10 ten millions
So, then when General iiar,Is1n shall
succeed, IN March next to the Presidential
Char, all that he will inherit from h,s pre-
Observation-Disclosures their brilliant example
--~ll be these Treasury vaults aud safes,
without a dollar 10 them, aud deb, Of Ten
millions Of dollars
The whole revenue policy OF this Ad
ninlstration has been founded IN error
While duties ore LAID on articles OF daily
use and necessity. articles OF Injury are sd
mited FREQ Of duty. Look at the Custom
House returns, $40 COOS 600 worth Of silk.
llmpoded 20 oae year, free Of duty, aud 9th
er articles Of luxury IN proportion thai
should be made TO contribute 10 the revenue,
I We have, 10 my judgment, imported ar
/ cesartiy, and ye, The Pfeslden, urges II as
40 objection to works Of public improve.
/ meut, To Rail Roads and Caaals, that they
/ diminish our ImpoftatIons, and thereby 10.
tertere With the comforts oil tho people. -
| HIS message saws:
] " Oar ocopln VIII no; long be insens.blc to the
extent oil the burdens entaIled upon them by the
ialso system that has been operating their san
guiue, energetic, and industrious character, nor
20 tho means necessary to cEtrlcste theu-oivc
from these cmbau4ssmcuis The weight which
, presses upon a large portion of the people and
the SIatrs, - al enormous debt, foreign and-sc
nestle The foreign debt Of oar States, corpora.
tors, and men d business, can scarcely b. less
/ than two hundred millions Of dollars requiring
more than ten millions Of dollars wear to paw
the interest. THIS sum has to BE- paid out Of tho
exports OF the country, aud unsi 81 nac..slty cat
OIL imports % that extent, o. plunge the country
more deeply in debt from year to year Il Is
easy 20 that tho increase OF this foreign debt
must augment the annual doma nd on the exports
10 pay the interest aud to the same extent duin.
ISL the npona, and IN proportion 70 the enlarge.
msnt Of the foreign debt, and the consequent 10.
crease Of interest must be the decrease OF tho i'm.
| port trade In leu oil the comforts which At now
| brings US We might have one gigantic banking
institution, aud splendid, but IN many instances
proillvHs, railroads and canals, absorbing 20 a
great extent, in interest upon the capital borrow
ell to construct them tho surplus fruits Of nation
al industry tor years 10 come, aud securing 10
postruty no adequate return for tho comforts
which the ators Of their hands might o,hery I've
have secured
What are these comforts that We are to
get so much more Of, Il we will cnly stop
our Railroads and CanaIsl Foreign goods,
loss Of employment nj home or European
wages, aad lastly direct taxation.
One Of the gentlemen Of the South, of
that nuihyIog State Rights party that has
absorbed the Administration, or been al
sofbed by Il, comes boldly out s,lh the De
CHARLTON that the period has arrived for di.
rect tar on land and among the reasons
assigned Tor this project Is this one, that IL
ic'H bring The North 10 the grindstone
We shall see, before this contest IL over
who viii be the parties ground, and who
the grinders. It's, however, but lust 10 add.
that thus far, this is only an expression OF
individual opinion, aud do not charge il
10 be nihrTgi4e