Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1840-12-29
ment upon public affairs is never ultimate

| I
ly wrong?
That embarrassments in the pecuniary
concerns of individuals, of uneAampied ex-
tent and duration, have recently existed IN
this as in other CONNIE rcial nations, is I'M
doubtedly true. To suppose it necessary
now to trace those reyerses to their sour
ces, would be reflection on the inteli-
gence Of my fellow citizens. Whatever
may, have been the obscurity in which the
subject was involved during the earlier sta
ges Of the revolution, there cannot now be
many by whom the whole question is not
fully understood.
Not deeming it within the constitutional
powers of the General Government. TO re-
| pair private losses sustained by reverses in
business having no conneXion with the pub
lie service, either by direct appropriations
from the Treasury, or by special leglsla-
ton designed to secure exclusive prlvlle-
ges and immunties to individuals or class
es in preference TO, and at the expense OF,
the great majority necessarily debarrod
from any participation la them, no attempt
to do so has been either made, recommend
ed, or encouraged by the present Execu-
tive.
1t is believed however that the great pur
poses for the attainment of which the Fe-
deral Government was instituted hiss not
been lost sight of. Entrusted only with
certain limited powers, cautiously enumer-
ated, distinctly specified and defined with
a precision and clearness which would
seem 10 defy misconstruction. it has been
my constan. aim 10 confne myself within
the limits SO clearly marked out, and SO
carefully guarded. Having always been
Of opinion that the best preservatiye of the
union of the States is to be found in a total
abstinence from the exercise of all doubt
full powers on the part of the Federal Co
vernment, rather than in attempts to as
sumo them by loose construction OF the
constitution, or ar ingenious perversion Of
its words, have endeavored to avoid re-
commencing any measures which Il had
reason 10 apprekend would, in the opinion
even Of considerable minority Of my fell
low citizens, be regarded as retrenchlng
on the rights Of the States, or the provis-
ions of the hallowed instrument of our
Union. Viewing the aggregate powers of
the Federal governmental voluntary con-
cession Of the States, it seemed to me that
such only should be exercised as were at
the time intended to be given.
have been strengthened too, in the pro-
priety Of this course, by the conviction
that all the efforts TO go beyond this tend to
produce dissatisfaction and distrust, TO OK
cite jeaIousies and to provoke resistance.
Instead of adding strength to the Federal
Government, even when successful, they
must prove q source eff incurable weak
ness, by alternating portion Of those whose
adhesion is indispensable to the great ag-
gregate of united strength, and whose vol
untary attachment is, in my estimation far
more essential to the efficiency of a gov
eminent strong in the best Of all possible
strength-the confidence and attachment
of all those who make up it's constituent
element.
Thus believing, it has been my purpose
to secure TO the whole people, and to every
member OF the confederacy, by general,
salutary, and equal laws alone, the benefit
of those republican institutions which it was
the end and aim Of the constitution to es-
tablish, and the impartial influence of which
is, in my judgment, indispensable to their
believe that the lasting happiness of the
people, the prosperity of the States, or the
permanency of the Union, can be main
tanned by giving preference or priority TO
any class OF citizens in the distribution OF |
benefits or privileges, or by the adoption
Of measures which enrich one portion Of
the Union at the expense of another; nor
can see in the interference Of the Fede-
raj Government with the local Legislation
and reserved rights Of the states,a remedy
for present, or security against future
danger.
The first, and assuredly not the least
important step towards relieving the coun-
try from the condition into which it had
been plunged by excuses in trade. banking
and credits of all kinds, was 10 place the
business transactions Of the government
itself on solid basis; giving and receiving
in all cases, value for value, and neither
countenancing nor encouraging in others
that delusive system Of credits from which
it has been found so difficult to escape, and
which has left nothing but the wrecks that
mark its fatal career.
That the financial affairs ofthe government are now
and have been during the whole period Of these wide
spreading difficulties conducted with strict and inya-
liable regard TO this great fundamental principle, and
H. by the ption and maintenance of the stand
thus taken the very threshold of fle approaching
isis more than by any other whatever,
she community al large has been shielded from the in
alculabe evils of general and indefinite suspension
oil specie payments and consequent humiliation for
The whole period it might have lasted, of just and
table standard of value will it is believed at this
nVa'; freely be questioned
per,ou Sc. vance on the part of the Government,
s'edry auL. =, -. ~roduced such saluary results
aided by judcious state egsat " Oh" l,oe
important, by the industry, enterprise,