The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-12-10

,nent Ia embarrassments far greater IMAM uiose "'
are now experienced by any Of the States Of Inning
ali our expenditures 10 that simple, unesteniaiiousi
and economical administration of public Affairs winch
Il alone consistent with the character OF our insu
tons of collecting annually from the customs anu
the sales OF public lands, revenue iuiiy auequae =
def,sy an the expenses thus incurred, but under no
retence whatsoever TO impose taxes upon the people
greater amount than actually necessary 70 the
uubIic service, conducted upon the principles have
stated. ,,,,on
banks of any description for the management oil our
6-cal affairs recommended the adoption OIL system
which Is now in successful operation That system
affords every requisite facility for the trnnsacuon ~
the pecuniary concerns of the Government Whii ns
condentIy anticipated produce in other respects many
of the benefits which have been from tune 10 ume
pected from the creation Of national pank, W,
which have never been realized avoid the maniioiu
evils inseparabe from such institution diminish,
10 greater extent than could be accomplished by any
other measure of reform, the patronage OF the reoefa
Goyernment-a wise policy in all Governments, ou,
more especially soin one like ours, which works wen
only in proportion as Il is made TO rely LOT m -
upon the unbiased and unadulterated opin ms OF us
constituents do away, forever, all dependence on
corporate bodies either the raising collecting safe
keeping or dlsbursng the public revenues and place
the Government equally above the temptation OF 'os
ternp dangerous and unconstitutional Institution al
home, or the necessity oil adapting its policy to the
views and interests of still more formidable money
power abroad.
by adopting ana out tnese pflhciIiesi
under the most arduous and dlscourag-
ing that the attempt has been made thus far success
fully 10 demonstrate TO the people of the United
States that national bank at all times, and national
debt except il be incurred al Teriod when the honor
and safety of the nation demand the temporary sacr
fee Of a policy which should only be abandoned in
such exgencies not merely unnecessary but IN d.
rect and deadly hostility to the principles Of their Go
vernment, and to their own permanent welfare
The progress made in the development of these
POSITIONS appears in the preceding sketch of the past
history and present state Of the financial concerns of
the Federal Government The facts there stated fully
authorize the assertion, that all the purposes for
which this Government was instituted have been ac-
compshed during four years Of greater pecuniary EN-
barrassment than before experienced in time Of
peace, and in the face of opposition formidable as
any that was ever before arayed against the policy OF
administration; that this has been done when the
ordinary revenues Of the Government were generally
decreasing, well from the operation Of the laws,
the condition OF the county without the creation of
permanent public debt, or mourning any liability,
other than such the ordinary resources of the Go
vernment will speedily discharge, and without the
agency of a national bank.
Ii this view Of the proceedings of the Government,
for the period it embraces, be warranted by the facts
as they are known TO exist; il the army and navy
have been sustained to the full authorized by
law, and which Congress deemed sufficient for the de-
fence Of the country and the protection of its rights
and its honor if its civil and diplomatic service has
been equally sustained; if ample provision has been
ton 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 failures in deiraying the very large expcnd
lures growing out OF that and salutay
policy of peacefully removing the Indians to regions
of comparative safety and prosperity If the public
faith has at all times, and every where, been most
scrupulously maintained by prompt discharge fthe
numerous, extended, and diversified claims the
Treasury IF all these great and permanent objects
with many others that might be stated, have for
series of years, marked by peculiar obstacles and diff
fculties, been successfully accomplished without a re
sort TO permanent debt, or the aid of n national hank
have not right TO expect that policy the object
of which has been to sustain the public service indie
pendently of either of these fruitful of dis
cord will receive the final sanction of people whose
unbiased and fairly ELECTED judgment upon public
affairs is never ultimately wong
That embarrassments in the pecuniary concerns of
individuals of unexampled extent and duration, have
recently existed in this in other commercial nations
is undoubtedly true. To suppose it necessary to
trace these TO their resources, would be
Election on the intelligence of my fellow citizens
Whatever may have been the obscurity in which the
subject was involved during the earlier stages of the
revulsion, there cannot now be many by whom the
whole question is not fully understood.
Not deeming il within the constitutional powers Of
the General Government to repair private losses sustain
ed by business having come with the
public service, either by direct appropriations from the
Treasury, by special legislation designed
exclusive privileges and nmunes to individuals or
classes in preference to, and the expense of the
great majority necessarily dcbarrcd from any partic
patton IN them, no attempt to do SO has been either
made, recommended encouraged, by the present 4
Executive.
II is believed, however that the grcat purposes for
the attainment OF which the Federal Government was
instituted have not been lost sight of lntIused only
with certain limited powers cautiously enumerated
distinctly specified, and defined with precision and
cearness which would seem to defy msconstruction
has been my constaRt aim to confine myself within
the limits SO clearly marked out, and carefully
guarded. Having always been OF opinion that the
best prcservatvc of the union of the States is TO be
found in total abstinence from the exercise OF all
doubtful powers on the part Of the Federal Govern
ment, rather than in attempts to assume them by
loose construction of the constitution ingenious
peryersion OF its words have cndcavorcd to avoid
commencing any measure which had reason to ap-
prchend would, in the opinion even OF considerable
minority ofmy fcowcitlzens, he regarded as rcnchng
on the rights of the States or the provisions OF the
haowcd instrument of our Union. Viewing the az
grcgatc powers ofthc Federal Government as voun
iary of the States seemed TO that such
only should be exercised at the time intended
to he given.
have been strengthened, too in the proprcty Of
this course by the conviction that all efforts TO 80 be
You'd this tend only To produce dissatisfaction and dis
trust to excite eaousies, and to provoke resistance
Instead OF adding strength 10 the Federal Government
even when successful, they must prove n
Of ncurebe weakness by alternating portion of those
whose adhesion indispensable TO the great aggregate
of united strength and whose voluntary attachment
is in my estimation, far more essential to the efficiency
of government strong in tho best of all possible
srength--thc confidence and attachment of all those
who make up its constituent clements
thus believing, II has been my purpose to secure to
the whole people, and to every member the conedc
racy, by general selutary and equal laws alone the
benefit Of those republican institutions which il
the end and aim Of the constitution to establish and
the impartial influence Of which is, in my Judgment
indispensable 10 their preservation. cannot bling
myself 10 believe that the lasting happiness of the peo
PIE the prosperity of the States the pelmanency of
their Union, can be maintained by giving preference