The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1840-12-23

government are reserved 70 the states ano
to the people; if as it has been viewed by
them as the first great step in the march
Of iaiitudinous construction, which, If un'
checked, would render that sacred instru.
ment of as little value as an unwritten
constitution. dependent, as it alone, would
be, for its meaning, on the interested inter-
pretaiion Of dominant party, and affor-
ding NO security 10 the rights of the mi
nority;-if such is undeniably the case,
what rational grounds could have been con
ceived for anticipating aught but determin.
ell opposition to such an institution at the
present day!
Could different result have been ex.
pected. when the consequences which
have flowed from its creation, and particu.
larly from its struggles to perpetuate it's
existence, had confirmed, in 90 striking
manner, the apprehensions Of its earliest
opponents; when it had been so clearly
demonstrated THAT a concentrated money.
power, welding so vast capital, and
combining such incalculable means of in
fuence. may, in those peculiar conjunc.
lures to which this government 10 unavoi.
daily exposed, prove an overmatch for the
political power of the people themselves;
when the true character Of its capacity to
regulate, according to its will and its inte-
rests, and the interests of its favorites, the
value and production Of the labor and pro.
perty Of every man in this exteaded coun.
try, hac been SO fully and fearfully devel-
oped; when it was notorious that all clas-
ses Of this great community had, by means
Of the power and influence it thus posses
ses, been infected to madness with spirit
of needless speculation; when it had been
seen that, secure in the support of the
combination Of influences by which it was
surrounded, it could violate its charter,
and set the laws at defiance with impunity;
and when, too, it had become most appa.
rent that TO believe such an accumulation
Of powers can he granted without the Ger.
sainty Of being abused, was to indulge in
a fatal delusion?
To avoid the necessity of permanent
debt, and its inevitable consequences, I
advocated, and endeavored 70 carry into
effect, the policy of confining the appro.
priations for the public service to such OBJ
jects only as are clearly within the consti-
tuIional authority Of the federal govern
ment; Of excluding from its expenses those
and unauthorized grants of
public money for works Of internal i'm.
provcment, which we're so wisely arrested
by the constitutional; interposition Of my
predecessor, and which, if they had not
been SO checked, would long before this
lime have involved the finances of the &C.
neral government in embarrassments far
greater than those which are now expert.
enced by any of the states; of limiting all
'ur expenditures to that simple, unosten-
.asious, and economical administration of
public affairs, which is alone consistent
with the character of our instutions; Of
annually from the customs and
The sales Of the public lands, revenue
fully adequate 10 defray all the expenses
'hus incurred, but, under no presence
whatsoever, to impose taxes upon the peo-
pie to greater amount than was actually
necessary to the public service, conducted
lpon the principles I have stated.
In lieu Of a national bank, or depen-
lence upon banks Of any description, for
he management of our fiscal affairs, l re.
commend the adoption Of the system
which is now in successful operation. This
ystem affords every requisite facility for
he transaction Of the pecuniary concerns
# fhe government; will, il is confidently
produce in other respects ma
~ benefits which have been from time TO
ime expected from the creation of ma
ional bank. but which have never been
avoid the manifold evils insepa-
able from such an institution; diminish,
o a greater extent than could be accom-.
,lished by any other measure of reform,
he patronage of the federal government
wise policy in all governments, but more
specially soin one like ours, which works
veil only proportion as i. is made to rely
or its support upon the unbiased and un.
dulleraled opinions of it's constituents
10 away, forever, all dependence on cor
,orate bodies, either in the raising, COL
ecting, safekeeping or disbursing the pub
ic revenues; and place the government
equally above the temptation Of fostering
dangerous and unconstitutional institu-
ion at home, or the necessity Of adapting
is policy to the views and interests of
till more formidable money power abroad.
Itis by adopting and carrying out these