The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-07-17

tiled question settled by Washington ana ny
{ Madison, by forty years acquiescence, by the
Judiciary, and by both of the great parties which
/ so long held sway in this country. | know and
| respect the contrary opinion, which is enter
tanned in this State. But, IN my deliberate view
of the matter, the power to establish such bank
being settled, and being necessary and proper
power, the only question is as to the expediency
Of its exercise. And on questions of mere ex-
pediency, public opinion ought to have CON
4 trolling influence. Without banks, believe we
cannot have sufficient currency; without bank
/ of the United States, fear we cannot have
sound currency But it is the end, that of a
sound and sufficient currency, and faitkfnl exc
cution of the fiscal duties Of government, that
| should engage the dispassionate and candid con-
sideration of the whole community. There IS
nothing in the name of bank of the United
States which has any magical charm, or to which
! any one need be welded. 1t is to secure certain
q eat objects, without which society cannot pros
per; and if, contrary TO my apprehension, these
| objects can be accomplished by dispensing with
the agency OF bank of the United States, and
employing that of State banks, all ought to re-
joice and heartily acquiesce, and none would
! more than should. ..>
I'd That the public lands, in conformity with
the trusts created expressly, or BY just implica-
| ton, on their acquisition, be administered in
spirit of liberalitj towards the new States and
Territories, and in spirit Of justice towards all
the States.
The lard bill, which was rejected by President
jackson, and acts of occasional Legislation, will
| accomplish both these objects. Iregret that the
| time does not admit Of my exposing here the ne
farious plans and purposes of the Administration
! as to thiz vast national resource. That, like ev
cry other great interest Of the country, is admin
istere3 with the sole view of the effect upon the
! interests 81 the party in power. Abill has pass
1 ed. the Senate, and is now pending before the
House, accoreing to which forty millions of dol
] lars are stricken from the real value of certain
/. portion of the public lands by short process;
and citizen OF Virginia residing on the south
west side ofthe Ohio is not allowed to purchase
| lands as cheap by half dollar per acre as a CT
| tizen living the northwest side of that river.
| have no hesitation in expressing my conviction
that the whole public domain is gone if MIR. Van
isBurenbe reelected. - e-.tt
3D. That the policy Of protecting and encoura
ging the productions of American industry, en-
teriag into competition with the rival produs-
/ tions of Foreign industry, he adhered to and
maintained on the basis of the principles and nj
the spirit Of the compromise of March, 1888.
! Protection and national independents care, in
my opinion, identical and synonymous. The
/ principle of abandonment of the one cannot be
Surrendered without q forfeiture of the other
| Who, with Just pride and national sensibility,
can think OF subjectiag the products OF our in
dustry TO all the taxation and restraints of for
eign Powers, without effort. on our part, to
cOunteFacJ tnelf prOhlDlllonS ana DufInenS UN
suitable counteryailing Legislation? These ques-
tions cannot be, ought not to be, one of princi-
pie, but Of measure and degree. adopt that OF
the COMPROMISE act, not because that act Is IT..
] repealable, but because it met with the sanction
of thu nation. Stability, with moderate and
certain protection, is far more important than
: instability, the necessary consequence oil nigh
RI protection. But the protection of the comprem-
Use let will be adequate, in most, if not as TO all,
interests. The twenty per cent. which 1t stipu-
fates, cash duties, home valuations, and the list
II of free articles inserted in the act for the part-
\ euiar advantage of the manufacturer, will en-
sure, trust, sufficient protection. All together,
they VIII amount probably to not less than thir-
4 ty per cent.a greater extent of protection than
was secured prior TO the act of 1928, which no
4 one stands up to defend. Now, the valuation OF
4 foreign goods is not made by the American
tfority, except suspectedcases, but by foreign
ers, and abroad. They assess the value, and we
the duty; but, as the duty depends, in most cas-
es upon the value, il is manifest that those, who
assess the value, fix the duty. The home valu-
alton will give our. Government what it right
fully possesses, both the power to ascertain the
true valuation of the thing which it taxes, as
well as the amount of that tax.
i 4th. That strict and wise economy, in the
: disbursement OF the public money, be steadily
: enforced; and that Go that end, all useless es-
Establishments, all unnecessary offices and places,
foreign and domestic, and all extravaganza eth
revenue, be abolished and repressed.
Il have not time to dwell on details in the ap-
! pIication of this principle / will say that
pruning knife, long, broad, and sharp, should be
applied to;eyery Department of the Government
t. There is abundant scope for honest and skiiful
surgery. The annual expenditure may, in rea-
II sonbae time, be brought down from its present
| amount of about forty millions to near one
} third of that sum. e.e- - rs Fl.
9Th. That several States have made such great
and gratifying progress in their respective sys-
Z TENS of internal Improvement, and have been so
, aided by the distribution under the deposit act,
} that, in future, the erection of roads and
: canals should be left to them with such further
f aid only from the General Government as they
l would derive from the payment of the last in
stalment under that act, from an absolute rein
, punishment of the right of Congress to call upon
them to refund the previous instalments, and
from that equal and just quotas, to be received
by future distribution of the nett proceeds from
the sales of public lands. T
ri And 9Th That the right to slave property,
i being guaranteed by the Constitution, and re-
r cognised as one of the compromises incorporated
| in that instrument by our ancestors, should De
left where the Constitution has placed 1T, undls-
turbed and unagitated by Congress.
These, fellow-citizens, are views both oil the
J structure of the, Government and OF its Admin
t istration which appear to me worthy OF com,
manding the grave attention OF the Public and
: It's new servants although, repeat, uasc
neither authority nor purpose to commit any BODY
else, believe most, if not all Of them are enter
tanned by the political friends with whomI have
acted. Whether the salutary reforms which they
incsde will be effected or considered, depends
upon the issue Of that great struggle which IS
now going on throughout all this country This
contest has had no parallel since the period OF
The Revolution. In both instances there IS SIM
ilarity of object. That was to achieve, this is to
preserve the liberties of the country. Let us
catch the spirit which animated, and initiate the
i virtues which adorned our noble ancestors.
II Their devotion, their constancy, their untirng
activity, their perseverance, their indomitanie
i resolution, their sacrifices, their valor' they
fought for liberty or death, in the memorable
let Us never forget that the prize now at hazard