Lincoln telegraph. [volume] (Bath, Me.) 1836-1846, 1840-12-17

ciples, under circumstances the most arduous and
discouraging, that the attempt has been made,
thus far successfully, to demonstrate TO the peo-
pie OF the United States that n ational bank at
all tmes and national debt, except it be incur
red at period when the honor and safety of the
nation demand the temporary sacrifice of policy
which should only be abandoned in such exgen-
cies, are not merely unnecessary, but in direct
and deadly hostility to the principles of their
Government, and to their own permanent well
fare.
The progress made in the development of these
positions, appears in the preceding sketch of the
past history and present state of the financial con-
of the Federal Government. The facts
there stated, fully authorize the assertion, that all
the purposes for which government was Instituted
have been accomplished during four years OF
great pecuniary embarrassment than were ever
before experienced in time of peace, and in the
face of opposition formidable as any that was
ever before arrayed against the policy OF an ad-
ministration; that this has been done when the
ordinary revenues of the government were gem
orally decreasing, well from the operation OF
the laws, as the condition of the country; with
out the creation of permanent public debt, or
mourning any liability, other than such as the
ordinary resources of the Government will speedl-
ly discharge, and without the agency of nation
al bank.
# this view of the proceedings of the Govern
ment for the period it embraces, be warranted by
and navy have been sustained to the full extent
authorised by law and which Congress deemed
sufficient for the defence of the country and the
protection of its rights and It's honor if its civil
and diplomatic service has been equally sustained;
if ample provision has been made for the admins
tration of Justice and the execution of the laws;
if the claims upon public gratitude in behalf of
the soldiers of the Revolution have been prompt
ly met and faithfully discharged; if there have
been no failures in defrayng the very large ex
penditures growing ont of that long continued
and sautary policy Of peaceably removing the
Indians to regions Of comparative safety and pros
perity; If the public faith has at all times, and
every where, been most scrupulously maintained
Icy prompt discharge of the numerous, extern
ded, and diversified claims OF the Tteasurv;-f
all these great and permanent objects, with many
others that might be stated, have for series Of
years, marked by peculiar obstacles and difficult
ties, been successfully accomplished without
resort to permanent debt, the aid of a nation
al bank: have we not right to expect that
policy, the object of which has been to sustain
the public service independently ofeither OF these
fruitful Of discord, will receive the final
sanction of people whose unbiased and fairly
ELECTED judgement upon public affairs is never
ultimately wrong?
That embarrassnents in the pecnniary CON
Germs of individuals, Of uneXamped extent and
duration, have recently existed in this in other
commercial nations, is undoubtedly true. To
suppose It necessary now, to trace these rcVerseS
to their sources, would be reflection on the in
trligence of my fellow citizens. Whatever may
have been the ohscurity in which the subject was
Involved during the earlier stages of the revul-
sion, there cannot now he many by whom the
whole question - not fully UNDERSIGNED.
Not deemng ii within the constitutional powers
Of the General Government to repair private los
sustained by rcverscs in business having no
connection with the public service, either by
dnect appropriations from the Treasury, or by
special Legislation designed to secure exclusive
privileges and im,nunities to individuals classes
in preference to- and at the expense of, the great
majority necessarily debarred from any participate
ton in them, no attempt TO do so has been either
made, recommended, encouraged by the
present Executive.
1t is believed however, that the great purposes
for the attainment of which the Federal Govern
ment was instituted have not been lost sight Of.
Entrusted only with certain limited powers,
tiously enumerated, distinctly specified, and de-
fined with precision ana clearness which would
seen to defy mIsconsructlon, II has been my con
slant aim TO conline myself within the limits so
clearly marked out, and so carefully guarded.
Having always been of opinion that the best
preseryative of the union of the States is to be
found in total abstinence from the exercise of
all doubtful powers the part OF the Federal
Government, rather than in attempts to assume
them by loose construction Of the constitution,
or an ingenious perVtTSiOH Oh It's WORDS, nave
endeavored TO avoid recommending any measure
which have reason to apprehend would in the
opinion even of n considerable minority of my
fellow citizens, be regarded as trenching on the
rights of the States, the provisions of the hal
lowed instrument of our Union. Viewing the
aggregate powers of the Federal Government as
voluntary concession of the States, it seems to
me that such only should be exercised as were at
the time intended to be given.
have been strengthened too in the propriety
of this course, by the conviction that all efforts
to go beyond this tend only produce dissaistac-
ton and dstrust, to excite jeaousles, and to pro-
woke resistance. Instead of adding strength to
the Federal Government, even when successful,
they must ever prove source OF incurabe weak
ness, by alternating portion of those whose add
hesion is indispensable to the great aggregate
of united strength, and whose voluntary attach
ment is in my estimation, far more essential to
the efficacy of government strong in the best
Of all possible srength-the confidence and at
tachment of those who make up its constituent
elements.
Thus believing, it has been my purpose to Sc
cure to the whole people and to every member
laws alone the benefit of those republican insti-
tutons which it was the end and aim of the con-
stitution to establish, and the impartial influence
of which is, in my judgement, indispensable to
their preservation. | cannot bring myself to be-
prosperity of the States, or the permanency of
their union can be maintained by giving prefer
cnce or priority to any class of citizens in the
distribution of benefits privileges, or by the
adoption of measures which enrich one portion Of
ha nj ~ he Of fbar. |