Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1840-12-22

the power and influence II thus possesses, been
Injected to madness with spin; Of needless
speculation. when IL had been seen that. Sc
cure in the support ofthe combination Of inflU-
cnces by which II was suffoupded.it could vio-
late lis charter and set the laws a, defiance
with impuniiy; and when, too, 1t had become
mosi apparent that 10 believe that such an ac
cumUlaiion OF powers can ever be granted
without the certsin,y Of being abused, was TO
indulge in fatal dclusion,
To avoid the necessity Of a permanent debt,
and its inevitable consequence s / have advocat-
ed, and endeavoTcd 10 carry into effect, the pol
icy OF combining The appropriations for the pub
lie service 10 such objects only as are clearly
wllhinthc constitutional authority Of the Fed
eral Government ofexcludine fromits expen-
ses those impro,ident and Unauthorized grants
Of public money for works ofintcrnal improve.
moBi. which were SO wisely arrested by the
constitutional inierposiiion of my predecessor,
and which, IL they had not been so checked,
would long before this time have involved the
finances of the General Government in embar-
rassmcnis far greater than those which are now
experienced by any Of the States of limiting
all our expenditures TO that simple, unosten,a-
iious, and economical administration OF pubic
affairs, which is aore consistent with the char
acier Of our institutions of collecting annual
ly from The customs and the sales Of public
lands,a revenue fully adequate 10 deirsy all the
expenses thus incurred, but, under no pTcience
whatsoever, TO impose taxes upon the people
TO greater amount Il an was actually neces-
sary TO the public service. conducted upon the
principles have stated.
In lieu of national bank, or dependence
upon banks of any description, COR the MANAGE
ment OF our fiscal affairs, recommend the a.
dopiion Of The system which is now in sue
cessful operation. That system affords every
requisite facility for the transaction Of the pc
cuniary concerns Of the Government; will, it
is confidently anticipated, produce in other re-
specis many of the benefits which have been
from time 10 time expected from the creation
of national bank, but which have never been
realized; avoid the manifold evils inseparable
from such an institution; diminish, to great
er extent than could be accomplished by any
other measure OF reform, the patronage ofthe
Federal Governmental wise policy in all
Governments, but more especially so in one
like ours, which works well only in proportion
as II is made TO rely for its support upon the
unbiased and undulterated opinions of its con-
s,,uents; do away, forever, all dependence on
corporate bodies, either in the raising, collect
ing, saiekeeping, or discussing of the public
revenues; and place the Government equally
above the temptation of fostering dangerous
and unconstitutional institution at home, or the
necessity OF adapting its policy to the views
and interests Of a still more formidable money!
power abroad.
II is by adopting and carrying out those
principles, under circumstances the most ar
duous and discouraging, that the attempt has
been made, thus far successfully, to demon
strae TO the people of the United States that
a national bank at all times,and national debt,
except 1t be incurred at period when the !
honor and safety of nation demand the tenn
Porary sacrifice of a policy which should only
be abandoned in such exigencies ARE not mere
ly unnecessary, but in direct and deadly hos
tli'y to the principles of their Governments and
TO their own permanent welfare
The progress made in the devcopement of
these positions, appears in the preceding
sketch OF the past history and present state Of
the financial concerns of the Federal Govern
ment. The facts there stated fully author
ize the assertion, that all the purposes for
which this Government was Instituted have
accomplished during four years of greater pc
cunlary embarrassment than were ever before
experienced in time Of peace land in the face
OF opposition as formidable as any that was
ever before arrayed against the policy OF an
that this has been done when
the ordinary revenues of the Government were
generally decreasing, as we'll from the opera.
ton OF the laws, as the condition of the coun-
Try, without the creation o. permanent public
debt, or mourning any liability, other than such
as the ordinary resources Of the Government
will sspeadily discharge, and without the apen.
cy Of a national bank
II this view Of the proceedings of the Gov.
fnr he in1 Il
ranted by the facts as they are known to exist:
II the army and navy have been sustained to
The full extent authorized by law, and which
Congress deem sufficient for the defence Of
the country and the protection of its rights and
us honor II its civil and diplomatic service
has been equally sustained; if ample provision
mas been made for the administration of Justice
and the execution of the laws; if the claims
upon public gratitude in behalf of the soldiers
Of The Revolution have been promptly met and
faithfully discharged; if there have been no
failures IN defIaying the very large expendi-
lures growing out OF that long-continned and
,alutary policy of peacefully removing the In.
1ians TO regions of comparative safety and
prosperity; II the public faith has at all times.
ana every where, been most scrupulously main
lained by prompt discharge of the numerous.
extended, and diversified claims on the Treas
o's'-H all 'hese great and permanent objects,
with many others that might be stated, have,
Tor series OF years, marked by peculiar OBJ
s,acles and difficulties, been successfully ac-
complished without resort TO public debt,
or the aid OF a national bank have we not
right TO expect that policy, the object Of
winch has been 10 sustain the public service
independently OF either Of these fruitful sour
ces of discoid, will receive the fiscal sanction
OF a people whose unbiased and fairly elicit
ed Judgmen, upon public affairs is never ulti-
maiely wronqi ~