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

Yhe removal Of the Indians from within
our settled borders is nearly completed.
The pension list, one Of the heaviest chas'
ges upon the Treasury, is rapidly diin'h.
ishing by death. The most costly OF our
public buildings are either finished, or
nearly so; and we may l think, safely pro-
mise ourselves a Continued exemption
from border difficulties.
The available balance in the Treasury
on The ist Of January next is estimated at
one million and half Of dollars. This sum,
with :he expected receipts from all sour
ces during the next year, will it is be-
lieved, be sufficient to enable the Guvern-
msr: &c meet every engagement, and leave
a suitable balance in the Treasury at the
end of the year; if the remedial measures
connected with the customs and the pub
JIG lands, heretofore recommended, shall
be adopted, and. the new appropriations
by Congress shall not carry the eSPendi-
lures beyond the official estimates.
The new system established by Con
sress for the safekeeping of the public
money, prescribing the kind Of currency
to be received for the public revenue, and
providing additional guards and securities
against losses, has now been several
months in operation. Although it might
be premature, upon an experience OF
such limited duration, to form definite
opinion in regard to the extent of its in
Auences in correcting many evils under
which the Federal Government and the
country have hitherto suffered-especial.
ly those that have grown out Of banking
expansions, a deprecated currency, and
Official defalcations; yet ii is but right 10
say that nothing has occurred in the Prac-
tical operation of the system to weaken
in the slightest degree, but much to
strengthen, the confident anticipations Of
its friends. The grounds Of these have
been heretofore so fully explained as to
require no recaptulation. In respect to
the facility and convenience it affords IN
conducting the public service, and the
ability of the Government to discharge
through its agency every duty attendant
on the collection, transfer, and disburs-
ment OF the public money with prompii.
tude and success, / can say with CONN.,
denee, that the apprshensions Of those
who felt it to be their duty to oppose It's
adoption have proved TO 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 secu-
.ity. A few changes and Improvements in
the details of the system, without affec-
ting any principles involved in it. will be
submitted to you by the Secretary of the
Treasury, and WILL am sure, receive at
your hands that attention to which they
may, on examination, be found to be en-
titled.
Inave deemed this brief summary ofthe
fiscal affairs necessary to the due perfor.
mance Of a duty especially enjoined on
me by the constitution. 1t will serve, also,
to illustrate moro fully the principles by
which have been guided in reference to
two contested points in our public policy,
which were earlies. in their development,
and have been more important in their
consequences, than any that have arisen
under our complicated and diicult, yet
admirable, system of government: I al |
luds to national debt, and national
bank. 1t was in these that the political
contest by which the country has been
ever since the adoption Of the constitution.
in great measure, originated; and there
is too much reason to apprehend that the
interests and opposing princi-
plss thus marshalled, will continue, as
herstofore, to produce similar, if not
aggrasstsd, consequences:
Coming into Office the declared ene-
my Of both, have earnestly endeavored
30 prevent resort to either. "
The consideration that large public
deb. affords an apology, and produces, in
some degree, necessity also, for resor-
ting to a system and extent Of taxation
which is not only oppressive throughout,
but likewise so apt to lead, in the end, to
the commission of that most odions of all
offences agains: the principles of republi-
can government-the prostitution of poh.
tical power, conferred for the general
benefit, to the aggrandizement Of particu-
lar classes, and the qualification Of indi-
pidual cupidi.y-is alone sufficient, inde-
pendently of the weighty objections
which have already been urged, 10 rem
der its creation and existence The sources
Of bite. and unappeassble discord. If
wo sca q .nis its inevitable tendency to