Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1840-12-31

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oped when il was notorious that all classes
OF this great community had by means OF me
power and influence II thus possesses, been M
iected 10 madness with a spirit OF needless.
speculation when il had been. seen that, Sc
cure IN the support OF the combination OF IN
fpenrns bv which it was surrounded, il could
violate its charter, and set the laws at defiance
with immunity: and too, it had become
most apparent that ldbelieve that such an ac-
cumnlation Of powers can ever be granted
without the certainty Of beng abused, was to
indulge in a fatal delusion!
To avoid tAe necessity of permanent debt,
and its inevitable consequences, have adNo-
Gated, and endeavored 10 carry INTO effect, the
policy Of confning the appropriations for the
public service to such objects only as are clear
" within the constitutional authority 81 the |
Federal Government; OF excluding rom ITS
expenses those improvdent and unauthorized
grants of public. money for works OF internal
Improvement, which were so wisely arrested |
by the constitutional Interposltlon OF my pred |
ecessor, and which, If they had not been check
cd. wond long before this time have involved
the finances OF the General Government IN
cmbarrassments far greater than those which
are now experienced by any Of the States; OF
limiting all our expenditures to That simple,
transformations, and economical administration
of public affairs, which is alone consistent with
the character of our Institutions; OF collecting
annually from the customs, and the sales OF
public lands. revenue fully adequate To deiray
an the expenses thus incurred, but, under no
pretence whatsoever, to impose taxes rpon the
reople TO a greater amount than was actually
necessary to the public service, conducted up
on the principles have stated
I'm lieu ola national bank, or dependence
upon banks of any description, Tor the manage
ment of our fiscal affairs, / recommended the
adoption ofthe system which IS now IN sue
cessful operation. That system affords every
reouisite facility for the transactlono OF the Pc
cun,ary concerns of the Government; wal, 1t
- confidently anticipated, produce ~ other res
meets many of the benefits which have been
from time TO time expected from the creation
of a national bank, but which have never beeh
realized: avoid the manifold evils lnseparablc
from such an institution diminish to greater
extent than could be accomplished by any
other measure of reform, the patronage OF the
Federal government wise policy IN all TO-
vernments, but more especially so in one like
ours. which works well Only IN proportion as i
is made to rely for IT. support upon the uno'
assed and unadulterated opinions OF ITS con
stuuents; de- away, forever, all dependence OF
CDTDOraIe OO0ltSg GllliCi III tllC Adhilts N'A-~~
inc safe Keeping, or discussing the public re
venues and place the Government equally
above the temptation of fostering dangerous
and unconstitutional institution at home, Of
adop.inq its pol cy TO the views and Interests
ola still more formidable money power abroad
Il is by adopting and carrying out thes'
principles, under circumstances the most ardu
Gus and discouraginr, that the attempt ha
been made thus far successfully, TO demon
sirate 20 the people Of the Unitel States tina
n national bank AZ al tines, and natona
debt, except il be incurred a. period whel
the honor and salety of The nation demand Tn
temporary sacrifice Of policy, which should on
w be abandoned IN such eXiCeHcies, are no
merely unnecessary, but IN direct and dead.
hostility to the principles Of Their Government
and to their permanent welfare.
The progress made in the dcvelopement q
these positions appears ia the preceding
sketch o. the past history ard present state
the financial concerns Of the Federal Govern
ment The facts there stated, fully auth0riZ
the assertion, that all the purposes for who
this Government was instituted have been az
compllshed during four years OF greater peer
mary embarrassment than were ever beiol
experienced in time Of peace, and IN q e ia,
of opposition as formidable as any that $50
ever before arraycd against the policy oil ;
Administration that this has been done WhC
the ordinary evrnues ofthe Government w.
renerally decreasing, as well from the opcr
tonot the laws, as the condition OF tic COZ
trv, without the creation Of permanent dc.
or mourning any liability other than such as
ordinary e-ourcCs Of the Government W
speedily discharge, and without the agency
a national bank.
al. ..-.,- e IL, y,-ocoo1ir,rr If tho o.
eminent. for the period il embraces, be W;
ranted by the facts as they are known to {
list; if the army and navy have been sustain
10 the full extent, authorized by law,and VIII
Congress deemed sufficient for the defence
the country and the protection of its rights a
its honor, fits civil and diplomatic service
been equally sustained; IT ample provision
been made for the administration Of Justice q
the execution Of the laws, If the claims M
public gratitude in behalf Of the soldiers of
Revolution have heen promptly met, and fai
fully discharged; fthere have been no iailu
indefravinc the very large expenditure ct,
mo out of that long continued and salutaTy
lev of peacefullv removing the Indians 20
REGIONS of comparative safety ard prosper
ifthe public faith has at all times, and ev
where, been most scrupulously maintained
a prompt discharge of the numerous claims
the I reasurv; If all these great and peunan
objects. with many others that might be sta
have for series of years, marked by pccu
obstacles and difficulties, been successfully
complished without resort 10 permanent
or the aid national bank; have we not a II
to expect that policy The object of wi
has been TO sustain the public service ii
pendenflv of either Of these fruitful sources
dscord will receive the final sanction p
pie whose unbiased and elected il
ment upon public affairs is never ultima
wrong.
That pecuniary embarrassInents IN the c
Germs of individuals OF unexampleG extent
duration have recently existed in this as
other commercial nations, is undoubtedly {
To suppose it necessary to trace their re-
SEES To- their sources would be a reflection
the intelligence Of my fellow citizens. WI
ever may have been the obscurity in which
subject was involved during the earlier sta
of the Revolution, there cannot now be m
bv whom the whole question is not underst
Not deemng it within the constitute
mowers of the General Government to re
private losses sustained by reyerses Of fort
IN business having no connexon with the I
lie services, either by direct apprOpnat
from the Treasury, or by special legIsla
eesipned TO secure exclusive privileges end
munities to individuals or classes IN preiere
TO, and at the expense OF, the great maIo
necessarily debarred from any partIcipatio
them, no attempt to do so has been eli
made, recommended, or encouraged by
present Executive.
1t is believed, however, that the great
poses, for the attainment ofwhlch, the Fed