Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1840-12-29

late its charter, and set the law at defiance
with impunity, and when too, it had be.
come most apparent that to believe that
such an accumulation of powers can never
be granted without the certainty of being
abused, was to indulge in fatal delusion!
To avoid the necessity of permanent
debt, and its consequences, have advoca-
ted, and endeavored to carry into effect,
the policy Of confning the appropriations
for the public service 10 such objects only
as are clearly within the constitutional au-
thority Of the Federal Government, Of ex-
Guiding from its expenses those IMPROVE
dent and unauthorized grants ofpublic mo-
new for works of internal improvement,
which were so wisely arrested by the con-
stitutional interpostion of my predecessor,
and which, if they had not teen so che cked
would long before this time have involved
the finances of the Federal Government in
embarrassments for greater than those
which are-now experienced by any of the
States: Of limiting all our expenditures 70
that simple uEostentatious, and econoIni-
cal administration of public affairs, which
is alone consistent with the character Of
our institutions; Of collecting annually frorn
the customs and the sales of public landss
n revenue fully adequate 10 defray all the
expenses thus incurred, but under no pre-
tence whatsoever, to impose taxes upon the
people TO greater amount than was actu-
ally necessary to the public service, con-
Quoted upon the principles | have stated.
In lieu Of national bank, or depen-
dence upon banks of any description, for
the management Of our fiscal affairs, re-
commend the adoption of the system which
is now in successful operation. That
system lfords every requisite facility for
the transaction Of The pecuniary concerns
of the government, will, it in confidently
anticipated, produce in other respects ma
ny Of the benefits which have been from
time to time expected from the creation OF
national bank, but which have never been
realized; avoid the manifold evils insepe-
rable from such an institution; diminish,
10 a greater extent than could be accom-
plshed by any other measure Of reform,
the patronage Of the Federal Government
"a wise policy in all governments, but
more especially so in one like ours, which
works we'll only in proportion as it is made
TO rely for its support upon the unbiased
and unadulterated opinions Of its constitu-
ents; do away, forever, all dependence on
corporate bodies, either in raising, collect
ing, safe-keepng, or disbursing the puplic
revenues; and places the Government
equally above the temptation of fostering
a dangerous and unconstitutional institu-
ton at home, or the necessity OF adopting
its policy TO the views and interests of a
still more formidable money power abroad.
1t is by adopting and carrying out these
princip Piles, under circumstances the most
ardous and discouraging, that the attempt
has been made, thus far successfully, to
demonstrate TO the people of the U. S. that
National Bank at all times, land a nation
al debt except it be incurred at period
when the honor and safety of the nation
demand the temporary sacrifice Of poll
cy which should Only be abandoned in such
Cxtigencies, are not merely unnecessary;
but in direct and deadly hostility 10 the
principles Of their Government, and TO
their own permanent welfare.
The progress made IN the development
of these positions, appears in the prece-
ding sketch of the past history of the pre-
sent state Of the financial concerns of the
ted fully authorize the assertion, that all
the purposes for which this Government
was instituted have been accomplished du-
ring four years of greater pecuniary en-
barrassment than were ever before expe-
rienced in time of peace, and in the face
of opposition es formidable as any that was
ever before arrayed against the policy Of
an administration; that this has been done
when the ordinary revenues Of the Gov
eminent were generally decreasing, as we'll
from the operation of the laws as the con-
dition Of the country; without the creation |
of permanent public debt, or mourning
any liability, any than such as the ordnt.-
ry resources of the Government will speed |
lily discharge, and without the agency OF
Il national bank.
If this view of the proceedings Of the
Government, for the period it embraces,
be warranted by athe facts as they are
known to exist; if the army and navy have
been sustained TO the full extent authorised
by law, and which Congress deem suffi.
cient for the defence Of the country and
the protection of lis rights and It's honor:if
It's civil and diplomatic service has been
equnIi? sustained i ample provision has
been made cf-5r the administration OF justice
end the execution O. the laws, II he claim
upon public gratitude in DtH'ai' Oh Tue sol,
ders Of the revolution have been "o"P"!
met, and faithfully discharged; ilthere Ia
been no failures in defraying the very heavy
expenditures growing out of that long con
,.nJcd aud salutary policy of peacefully
removing the Indians to regions Of compa-
ra,ive safety aud prosperity; if the public
II -. = knr