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


ment Of public affairs have adverse influence 70
contend with more powerful than large surplus re-
venue and the unusually large appropriations Tor 1897
may without doubt independently OF the extraordna-
nv acquisitions for the public service growing out Oft
state of our Indian relations be- in inconsderabe
degree traced to this source. The sudden and rapid
distribution Of the large surplus then in the Treasury
and the equally sudden and unprecedentedly severe
revulson In the and business Of the country
pointing with unerring certainty TO great and pro-
racted reduction ofthe revenue strengthened the
prety Of the earliest practicable reduction Of the public
expenditures.
But, to changea system operating upon so large a
surface, and applicable 10 such numerous and diyers-
ed interests and objects was than the work OF
day. The attention OF every department OF the Go
vernment was Immediately and in good faith, directed
that end and has been continued 10 the present
moment The estimates and appropriations Tor the
year 1888 (the first over which had any control)
were somewhat diminished. The expenditures OF
1889 reduced six millions OF dollars. Those OF
lS40 exclusive of disbursements for public debt and
trust claims, will probably not exceed twenty-five ana
half millions being between two and three millions
less than those ofthe preceding year, and nine or ten
millions less than those of 1887. Nor has y been
found necessary order to produce this result 7, re-
the power conferred by Congress- OF posfponng
certain classes of the public works except by deferrng
expenditures for short period upon limited portion
Of them; and which postponement terminated some
time since at the moment the Treasury Department,
by further receipts from the indebted banks, became
fully assured Of its ability TO meet them without preju-
dice to the public service in other respects Causes
arr in operation which will il is believed Justify still
further reduction without injury TO any important ma
tonal interest Theexpenses fsusaining the troops
employed in Florida have been gradually and greatly
reduced, through the persevering efforts OF the War
Department. and reasonable hope may be entertain
ed that the necessity for military operations In that
quarter will soon cease. The removal OF the Indians
from within settled borders is nearly completed
The pension list one of the heaviest charges upon the
Treasury, is rapidly diminishing by death. The most
costly of dublic buildings either finished, or
nearly so and we may, think, safely promise our
selves continued exemption from border difficulties
The available balance in the Treasury on the lst oil
January next is estimated at million and half Of
dollars. This sum, with the expected receipts hom all
sources during the next yeai, Will IT Is believed, DC
suf lent enable the Government to meet every en-
gagement and leave suitable balance in the Treasu
y at the end of the year, if the remedial measures
connected with the customs and thepublic lands, here
tofore recommended shall be adopted, and the new
appropriations by Congress shall not carry the ex2en-
dItures beyond the official estimates.
The new system established by Congress for the
safekeepng OF the public money, prescribing the kind
Of currency be received for the public revenue and
providing additional guards and securities against
losses has been several months in operation. Al
though it might be premature upon an experience Of
such limited DURATION to form definite opinion in re-
gard to the of its influences in correcting many
evils under which the Federal Government and the
country have hitherto suffered-especiay those that
have grown out of banking expansions deprecated
currency and official defalcations yet it is but right
TO say hot nothing has occurred in the practical ope
ration Of the system to weaken in the slightest degree
but much TO strengthen, the confident anticipaons OF
its friends. The grounds of these have been hereto
fore SO fully explained to require recapltulatlon.
In respect to the facility and convenience il affords in
conducting the public service and the ability OF the
Government TO discharge through its agency every
duty attendant the collection, transfer and disburse-
ment of the public money with promptitude and sue
\ Hat ~.
Of those who felt be their duty to oppose its adop
ton have proved 10 be unfounded On the contrary,
this branch Of the fiscal affairs Of the Government has
been and it is believed may always be, thus carried on
with every desirable facility and security few
changes and improvements in the details OF the sys-
tenn, without affecting any principles involved IN II,
will be submitted to you by the Secretary Of the Trea-
sury, and will am sure, receive at your hands that
attention to which they may on examination, be found
to be entitled.
have deemed this brief summary of our fiscal af-
fairs necessary TO the due performance of duty specl
ally enjoincd upon me by the constitution. 1t will
also, to illustrate fully the principles by
which have been guided in reference two contested
points in public policy, which earliest in their
development, and have been more important in their
consequences, than any that have arisen under our
complicated and difficult, yet admirable system Of go
yernment; alludc to national debt, and national
bank. IL in these that the political contests by
which the country has been agitated since the
adoption of the constitution, in great measure, orr
gnated; and there is too much reason to apprehend
that the conflicting interests and opposing principles
thus marshaed will continue, heretofore to pro-
duce similar, if not aggravated consequences
Coming into office the declared enemy of both,
have earnestly cndeayorcd 10 prevent resort to either
The consideration that large public debt affords
apology, and produces, in some degree, necessity
also for rcsortlng TO system and extent of taxation
which is not only oppressive throughout but likewise
apt lead in the end, to the commission of that
most odious of all offences against the principles OF
publican goveInment-the prostitution OF political
power conferred for the general benefit to the aggan-
dlzement Of particular classes and the qualification of
individual cupdliy-is alone sufficient, independently
of the weighty objections which have already been
urged to render its creation and existence the
of bitter and unappcasable dscord five add TO this,
its inevitable tendency TO produce and foster extrava
CANT expenditures OF the public money, by which
necessity is created for loans and burdens
people aud finally If we refer 10 the examples of
every Government which has existed for proof how
seldom II is that the system, when adopted and
implanted in the policy OF country has failed to
pand itself until public credit cx aused and the
people were no longer able TO endure its increasing
weight, il seems impossible to resist The conclusion,
that no benefits resulting from its career extent Of
conquest of wealth to partc uar classes
nor any, all its combined advantages, can counter
balance its ultimate but certain rcsus-a splendid go
vcrnncnt, and an impovcris led people
II n national bank was, ms is undenlablc icpudated
by the trainers of the constitution Incompatible with
the lights Of the States and the liberties of the people
IT. from the beginning 1t has been regarded by large
portions Of our citizens coming III direct collision
with That great and vital amendment of the consttu-
ton, which declares that all powers not conferred Ivy
that instrument the General Government are re-
served 10 the States and 10 the people il II has been
viewed by them the first great step in the march Of
latItujnous construction which, unchecked, would
render that sacred instrument OF as little value as an
unwritlcn constitution, dependent as il would alone
be- for s meaning the interested Interpretation OF
dominant party, and af1ording no security 10 the
rights Of the minoryif such IL undeniably the case
what rational grounds could have been conceived for
anticipating aught but determined opposition 10 such
nm institution at tho present dayl
Could different result have been expected when