Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1841-01-02

teresied Interpretation OF a dominant par
ty, and ailording no security to the rights
of the minorlty;-it SUCH undeniably the
case, what rational grounds could have
been conceived for anticipating aught but |
determined opposition to such an institution
at the present day.
Could a different result have been eX !
pected, when the consequences which have |
flowed from its creation, and particularly !
hom its struggles to perpetuale its eXis-
tence, had confirmed, in SO striking man
ner, the apprehensions Of its earliest oppo-
nents; when it had been so clearly demon
strated that concentrated money-power.
welding SO vast a capital, and combining
such lncalculabe means of influence, may,
IN those peculiar cOnjectures to which this
Government is unavodabIy exposed, prove
an overmntch for the political power of the
people themselves; when the true charac-
ter OF its capacity to regulate, according to
its will and Its interests, and the interests
of its favorites. the value and production of
the labor and property of every man in this
extended country, had been SO fully and
fearlulIy developed; when it was notorious
that all classes Of this great community had.
by means of the powerand influence it thus
possesses, been infected to madness with a.
spirit ofhecdIeSs speculation; when it had
been seen that, secure in the support of the
combination ofinfluences by which 1t was
surrounded, it could violate its charter, and
set the laws at defiance with impunity; and
when, too, it had become most apparent
that to believe that such an accumulation
of powers can never be granted without
the certainty of being abused, was to in
dulge in fatal delusion!
To avoid the necessity Of a permanent
debt, and its inevitable consequences.
have advocated, and en- !eavored to carry in
to effect, the policy Of combining the appro-
priations Tor the public service to such OBJ
jects only as are clearly within the consti
tutional authority of the Federal Govern
ment; of excluding from its expenses those
nnprOvident and unauthorized grants of
public money for works internal improve.
ment which were So wisely arrested by the
constitutional interposition ofmy predeces-
sor, aud which, if they had not been so
checked, would long before this time have
involved the finances Of the General Cow
eminent in embaTassments far greater than
those which are now experienced by any Of
the States; of limiting all our expenditures
cu administration ofpublic affairs, whicIlisa.
lone consistent with the character of our
institutions; Of collecting annually from the
customs, and the sales Of public lands, Il
revenue fully adequate to deiray all the ex-
penses thus incurred, but, under no pre-
tence whatsoever, to impose taxes upon
the people to greater amount than was
actually necessary to the public service.
conducted upon theprincipes lhove stated.
In lieu ola national bank, or dependence
upon banks ofany description, for the man
agement Of our fiscal allaIrs, recommended
the adoption of the system which is now in
SIC ;esslul operation. That system affords
every requisite facility for the transaction
Of the pecuniary concerns Of the Govern
ment; will, it is confidently anticipated,
produce in other respects many Of the ben
cfts which have been from time to time eX-
pected from the creation OF national bank.
but which have never been rcaIized; avoid
the manifold evils inseparabIc from such an
institutions; diminish to a greater extent
than could be accomplished by any other
measure Of reform, the patronage Of the
Federal Governmental wise policy in all
Governments, but more especially 50 in one
like ours, which works well only in pro-
portion as it Is made 10 rely for its support
upon the unbiased and unauthorized ,opn.
ions its constituents; do away, forever,
all dependence on corporate bodies, either
in the raising, collecting, satekeeping, or
disbursing the public revenues; and place
the Government equally above the tempta-
ton fostering dangerous and uncon-
titulon II institution at home, or the neces-
sty of adapting its policy to the views
and interests OF Il still more formidable
money powerabroad.
1t is by adopting and carrying out these
principles, under circumstances the most
arduous and discouragjhg, that the attempt
has been made, thus far successfully, to de-
monstrate to the people Of the United
States that a national bank at all times, and
national debt, except it be Incurred at Il
period when the honor and safety of the
nation demand the temporary sacrifice Of a
policy, which should only be abandoned in
such exigencies, are notmcrely unnecessary.
but IN direct and deadly hostility to tie
principles Of their Government, and to their
own permanent welfare.
The progress made in the developement
ofthese positions, appears IN the preceding
sketch OF the past history and present state
Of the financial concerns Of the Federal
Government. The facts there stated fully
authorize the assertion, that all the purpo.
SEES for which this Government was institu-
ted have been accomplished during four
years OF greater pecunlary embarrassment
than were before experienced in time OF
naona opd IN tho face nj rODpSiti,n g..