Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1840-12-17

eminent 10 discharge tnfougnhs agency every duty
attendant the collection transfer, and dsburse-
menl of the public money with prompitude and sue
cess, say, with confidence, that the apprehen-
sions of those who feb be their duty oppose
its adoption have proved to be unfounded On the
contrary this branch of the fiscal affairs Of the Gov.
eminent has been, and il 10 believed may always be
thus carried with every desirable facility and
curity. few changes and improvements in the
details Of the system, without affecting any princi
pies involved in it, win be submitted 10 you BY the
Secretary OF the Treasury and viii, | am sure, re-
ceiye al your hands that attention to which they
may examination, be found TO be entitled
have deemed THE brief seminary Of our fiscal af
fairs necessary the due performance Of duty spe-
ciay enjoined upon by the constitution. Il win
serve also, to illustrate fully the principles by
which have been guided in reference TO two
tested points in public policy, which
lest in their development, and have been i'm.
portant in their consequences, tlan any that have
arisen under our complicated snd difficult, yet adj
mirable, system Of government: allude too nation
al debt, and national bank. II was in these that
the political contests by which the country has been
agtated ever since the adoption of the constitution,
in great measure, originated; and there is too
much reason to apprchend that the conflicting nie-
rests and opposing principles thus marshalled will
continue heretofore, produce similar, IL ag
gravatcd, Consequences.
Coming into Office tae declared enemy Of both,
have earnestly endesyered prevent resort TO Ell
sher.
The consideration that large public debt affords
an apology, and produces, in some degree neccs-
sity also, for resortng TO a system and extent Of
VACATION which Is not only oppressive throughout,
but likewise apt 10 lead, in the end. the
mission of that most odious Of oil offences, against
the principles OF republican government-the pros
stution OF political power, conferred for TIE gener
al benefit, to the aggrandizement Of particular
classes and the qualification OF individual cupidity
4 e -
objections which have already been urged. 10 rem
der its creation and existence the sources Of bitter
and unappeasable discord.
If VIC add 10 this, its inevitable tendency 10 pro-
ducs and foster ew,ravngant expenditures Of the
public money, by which a necessity is created for
new 1oane END burdens on the people, md,
finally, II refer 90 the examples Of every Gov
eminent which has existed, for proofhow seldom it
10 that the eysten, hen adopted and implant
ed in fne policy OF country has failed TO expand IT.
self, until public credit exhausted and the peo-
pie were no longer able to endure It's increasing
weight, seems impossible TO resist the conclusion
that no benefits resulting from It's career,
OF conquest, no accession of wealth TO particular
CLASSES, any, all its combined advantages can
~counterbaanoe its ultimate but certain results--a
splendid Governnaent and an impoverished people.
II q nationsi bank was. as is undeniable repuda-
ted By the trainers OF the constitution ncompat-
ole with the rights of the States and the liberties of
|ne ptOpeS II, from iue beginning, II has been re-
garded by large portions of our citizens coming
in direct collision with that great and vital smend-
nent OF the constitution, which declares that all
powers nst conferred by that instrument the Gen
cral Government reserved to the States and TO
the people; If IL has been viewed by them the
first great sierin the march Of atudinous construc-
tion, which, unchecked, would render that sacred
instrument of little value as an unwrtten consti.
tuition, dependent, it would alone be, for its
meaning on she interested Interpretation ofa domi-
nant party and a!ording no security to the rights
of the minority IF such is undenisbly the case,
what raficnal grounds could have bron conceived
FOR anticipating aught but determined opposition to
such an institution at the present day7
Could different result have been expected, when |
the consequences which have flowed from its crea-
iion and particularly from its struggles perreu
ate its existence, had confirmed, in so striking |
rnanner, the apprehensions OF lis earliest opponents
when IT had been clearly demonstrated that |
concentrated money power welding vast n cap |
ital, and combining such inc llcuable means of infu
snce may, in those peculiar conjuncures to which /
enforcement unavodably exposed prove an o. |
vermatch for the political power of the people them
selves when the true character Gifts capacity toreg
ulate according to its will and its interests and the
interests Of its avores the value and production OF
The labor and property of every manin this extended
country, had been full, and fearfuly developed;
when it notorious that all classes of this great
community, had BY OF the power and influence
it thus possesses, been infected inadpess with
spirit Of needless speculation; when IL had been
that. secure in the support of the combination of in
Guences by which it surrounded, il could violate
its charter, and set the laws defiance with impu-
nifty; and when TOO, it had become most apparent
that to believe that such accumulation of powers
can be granted without the certainty Of being
abused. was to indulge in fatal deluson
To avoid the necessity of : permanent debt, and
ats Inevitable consequences, have advocated and
hHrEE mad sas, &
ming the appropriations for the public service TO
such objects only are clearly within the cons
tutonal authority of the Federal Government of
excluding from its expenses those improvident and
unauthorized grants Of public money for works of
internal improvement, which were wisely arrest.
ed by the constitutional incorporation Of my prede
cessor, and which, II they had not been checked,
would long before this Time have involved the f.
nances of the General Government in embarrsss-
ments far greater than those which are now expe-
rienced by any of the States Of limiting all our ex-
pend,tures TO that simple, unostentatious, and
nomical administration of public affairs, which is
alone consistent with the character Of our institu-
tions Of collecting annually from the customs, and
the sales OF public lands, revenue fully adequate to
defray all the expenses thus incurred, but under
pretence whatsoever, to impose taxes upon the peo-
pie to greater amount than actually necessary
to the public service, conducted upon the principles
have stated.
In lieu OF a national bank, or dependence upon
banks OF any description for the management OF our
fiscal affairs, recommend the adoption of the sys
tenn which is now in successful operation. That
system affords every requisite facility Tor the trans
action OF the pecuniary concerns of the Government
will, 1t Is confidently anticipated produce in other
respects many of the benefits which have beer from
time to time expected from the creation of nation
al bank, but which have never been realized avoid
toe manifold evils nseparabe from such an nstita-
ton; diminish, to greater extent than could be
accomplished by any other means of REFORM the
patronage Of the Federal Governmental wise
policy in all Governments but especially so in
one like ours, which works well only in proportion
as it made to rely for its support upon the unbi-
aasad I'd tod nfit