Vermont telegraph. [volume] (Brandon [Vt.]) 1828-1843, 1840-12-23

ton 10 whica they may, on examination, OF
be found 10 be intitled. TO
i have deemed This brief summary of b.
our fiscal affairs necessary 10 the due per- p
Tormsncc of duty specially enjoined a
upon me by the Constitution. il will p
serve. also, to illustrate more fully the P
nrinciples by which have been guided
in reference to two contested points in our
nublie .poicy, which were earliest 10 their u
development, aud have been more inpor- c
tunt in their consequences, than any that y
have arisen under our complicated ard
dlfficolt. vet admirable system Of goverRs
nent | alluded TO national debt and
national bank Lis in these that the po-
inicai contests by which the country hast
been agiaied ever since the adoption o:
the Constitution, in great measure, orig
mated; aod there is too much reason 10
apprehend that the conflicting Interests
and opposing principles thus marshaliec
will continue. as heretofore, to produce
similar. If moi aggravated, consequences.
Coming into Office the declared enemy |
Of both. have earnestly endeavored to pre-
. rent resort 10 elther.
1I'he consideration that large public
deb affords an apology, and produces. 10
some degree. a necessity also, for resortmg
to n system and extent Of taxation which IS
I. not onfy oppressive throughout, but like
wise SO apt 70 leal, in the end, 10 the COM
mission ofthat most odous OF all offences
against the principles Of republican gov
crnment--lhe N ostitutlon oil political pow
- er. conferred for the general benefit. to the
ACKNOWLEDGEMENT of particular classes, ana
the qualification of1ndlVIdual cuprdty rs
alone sufficient, independently OF the
weinhty objections which have already
been urged, to render its creation and ex-
is,ence the sources bitter and unarnoeas-
able discord. If we add to this, its newt
able tendency to produce and foster extrav-
agant expenditures OF the public money,
by which a necessity is created Tor new
loans and new burdens on the people and,
finally, if we refer TO the examples of eve
Z nv Government which has existed, for
proof, how seldom it is that the system
when once adopted and implanted in the
policy OF a country, has failed to extend
Itself, until pubic credit was exhausted,
!. and the people were no longer able to
, endure It's increasing weight; It.seens i'm
possible to resist the conclusion, that nj
benefits resulting from its career, no ex.
tent Of conquest, no accession Of wealt
to particular CLASSIC, nor any, nor all II
combined advantages. can counterbllanc,
It's ultimate bat certain resuts-a splendi
G1vernm mt and an impoverished people
If national bank wasras IS undenla
BE, repudiated by the trainers Of the con
sfituton as Incompatible with the right
Of the States aud The liberties of the PEG
pe;jfSffom the beginning, il has bee
regarded by large portions Of our citizen
as coming in direct collision with tn;
great and vital amendment of the const
triton, which declares that all powers NJ
conferred by that instrument on the Ger
eraI Government are reserved 10 the STATE
and 10 tile people; If il has been We've
by them as the first great step in Ii
mfrch OF latitudinous construction, which
uncheck, d, would render that sacred il
strument Of as little value as an unwrttt
constitution, dependent, as it would alor
be, for its meaning, on the interested lnle
probation OF a-dominant party, and affor
ing no security 10 the rights of the m
norty;-if such is undeniably the cas-
what rational grounds could have b.
conceived for anticipating aught bul dete
the present dav!
Could q different result have been e
pected, when the consequences which ha
flowed FROM its creation, and particular
from its struggles to perpetuate It's exi
ence. had confirmed, in SO striking ma
ner. ahe apprehensons OF lis earliest 0
moments: when it had been so clear
demonstrated that concentrated none
mower. welding so vast capital,
comhinia1 such incelculable means
influence. NAV. in those peculiar conJur
tarss 10 which this Government Is uf
voilabIy exposed prove an overmatch
the polnieal power Of the people the
selves; when the true character OF
Capacity TO regulate, according 10 It's
and It's Interests. and the Interests OF
favortes, The value and prodactlonaot !
labor and property Of every m an IN
extenaed county. had been so July a
feaffully developed; when it was no'o
ons that all Glasses of this great conn
nity had. by means Of The power AMI
furnce il thus possesses. been infected
madness with spirit oil needless spec
la,ion: when ii had been seen that, secu
in the support OF the combination OF |
f1ences by which it was surrounded,
could violate its charter, and set the la
. a, deilnce with inpunilv; and when. e
il had become most apparent that TO
li.,ve thai such an accumulation Of powt
can ever be granted without the cerlaio
Of being bused. was 70 indulge in fa
delusion2
To avoid the necessity of a perman'