Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1840-12-24

HHtlOn; That tns has peen uOlle Niieh uie "iui'
nary revenues of the Government were gener,
ally decreasing, as well from the operation. OF
the laws, rs the condition Of the country, with
ont the creation of permanent debt, or incur
ring any liability other than such us the ordl,''
nv resources of the Government will speedily |
discharge, and without the agency .! a raion-
al bank.
Ifthis view of the proceedings of the Gov
ernmen. for the period it embraces, be war
rautcd by the facts as they arc known 10 exist
if the armv and navy have been sustained to
the full extent authorized by law, aud which
Congress deemed sufficient for the defeuc" oi
the country and the protection Of its rights and
its honor, if It's civi! and diplomatic service has
been equally sustained; il ample provision has
been made for the administration Of justice and
the execution of the laws; il the claims upon
public gratitude in behalf of the soldiers OF the
Revolution have been promptly met, and taltll-
fully dschar.ed il there have been no failures
in defraying the very large expenditures grow
ing cut of tina, long continued und sautary pol
icy Of peacefully removing the Indians to re-
sions Of comparative safety and prosperity; il
the public faith has at all times, and every
where, been most scrupuloasy maintained by
prompt discharge Of the numerous, extended
and diversified claims on the Treasury; if all
=
others that might he stated. have. for series OF
years, marked by culiar obstacles and diff
culti..s, been successfully y accomplished without
resort to permanent debt. or the aid of ma
lonal hank; have we not 4 rg gh: to expect that
a policy. the object Of which has been to slls-
tain the public service independently OF either
Of these fruitful sources Of discord, will receive
the final sanction of people whose unbiased
and fairly elected judgment upon public affairs
is never ultimately wrong!
That enlbaraSSments in the pecuniary con.
Germs Of individuals, Of unexampled extent and
duration, have recently existed in this. as in
other commercial nations, Is undoubtedly trne.
To suppose il necessary now to trace these re-
verses to their sources would he n reflection OF
the intelligence Of my fellow citizens What
ever may have heen the obscuri:y in which the
subject was involved during the earlier stages
Of revulSion. there cannot now be many by
whom the whole question is not fully under
stood.
Not deemiac it within the constitutional pow
ers Of the General ;iovernlnen, TO repair prl.
vate losses sustained by teYerses in business
having no connexion with the public service,
either hy direct appropriation from the Trcus-
ury. or by special legislation designed to secure
exclusive privileges and imnunities to indvid-
uals nr classes in preference to, and at the cS.
pense OF. ,ae great ma ority necessarily debar
red from any participation in them, no attempt
10 do so has been either marle. rrcom:nC nded,
or encouraged, hv the present Executive
1t is hclwe however, that the great pnrpo-
ses for the attanmeD, 0i which the Federal
Govern nent was Instituted have not been lost
sight ur Intrl'sed only wit, certain limited
powers, cautiously 'nsneraed distinctly
specified and defined with n precision and
cearness which would seem to defy mScon-
struction. it has been my constant ;;'n to con
fine myself within the limits 80 clearly marked
out, and so cartnlly guarded. Having always
been of opinion thai l'n' hcsl rrrsrrvative Of
the union nf the States is 20 he found in total
abstinence tron. the exercise of all doubtful
powers on the part of the Federal Government,
rather than in attempts 70 assillTc them by u
loose construction of tie constitution or any
ingeuions perv-rSion Of lis words, have en-
dravofed to avoid rrconn'endIn" any measure
%ss s bBqys t5s 5GaSnn l3 spEr'shsna would IN
my ttllow citizens, be regarded as ,rcn" hing on
the rights Of the States. or hr provisions OF the
hallowed Instrument OF onr Union. Viewing
the aggregate powers of the Federal t:"vcri,-
ment as Il voluntary concession of the States.
it seems to me Il at such only should he eXer-
cised as were 4, the time intended 10 be given
have been strengthened too, in the proI'ri-
ety OF this course. by the conviction that all
efforts to 90 beyond this tend only to produce
dissatisfaction aud diStrust. TO excite enloiSirS
and TO provoke resistance Instead Of adding
strength To the Federal Government. even when
successful, they must ever prove source Of
incurabIe weakness by alternating Il portion Of
those whose adhesion is indispensable 10 the
great aggrcg gat. Of united slrcugtl. aud whose
voluntary attachment is. in INV estimation, FAR
more essential TO the efficiency of government
strong in the best of al possible strength; the
confidence and attachment Of all those who
make np its constituent elements.
Tius believing it has been my purpose To
secure TO the whole people, and TO every llrn
ber of the couiedericl, by general, salutary,
aud equal laws alone the benefit Of those re-
publican institutions. Which il was the cud AID
aim OF the constitution to establish, aud the
aufuence of which is. in my JUDI sment indiS-
pensabIe TO their preservation. Icannot bring
anyselt to believe that the lasting happiness Of
the people, the prosperity of the States. or the
perraanency Of their Union, can be- maintained
by giving preference orprI"ry To any class of
citizens in the distribution of benefits or prlvi-
leges or by the adoption Of measures which
enrich one portion OF the Umion at the expense
Dl anOsnert nOT Cdll nee IiI tllc VI
the Federni GoveroIn"nt with the loral lcelsla-
lion and reserves, rights of the Safes. reule-
dy for present, or security pgalns' ili'are dan
gers.
The first. aud assuredIy not the least, inpor-
tant step towards relieving the country from
the condition into which it mad been plunged
by exccsscs in trade banking. and credits of all
kinds. was to place the business transactions Of
the Government itself on solid basis; giving
and receiving in all cases value for value and
neither counlenancing nor encouraging in others
that delusivc system of credits, from which it
has been found so difficult TO escape. and which
has left nothing behind it but the wrecks that
mark its fatal career.
Tha, the financial affairs of the Government
are now. and have been during the whole peri
cd of these wide-spreading difficulties. conduct
ed with strict and invariiblc regard To this
great fundamental principle. aud that by the
assumption and maintenance Of the stand thus
taken m the very threshold Of the approaching