The Yazoo Whig and political register. (Yazoo City, Miss.) 1840-1842, 1841-06-18


focily from lhe body of OR common cone
sdtueni submit The entire question, as
best qualified 70 give full exposition q
fheir wishes and opinions Ishall be ready
10 concur with YOU 10 the adoption Of such
system as YOU may propose, reserying %
myse lie ultimate power Of rejecting any l
measure which mag, ia my view Of Is, con-
fict with ihe Constitution, OF otherwise
leopard he prosperity Of the country; q !
power which could not part with even If i +
would, but which will not believe any act
Of yours viii call into acquisitions
cannot avoid recurring. ID connexion /
with this subject, 70 the necessity which ex-
lists ler adopting some suitable, measure
whereby the unlimited creation Of banks by
the States may BE corrected in future.
Such result can bemostreadily achieved by
the consent Of the States, to be expressed
IN the form of compact among themselves,
which they can only enter into with the con-
sent and appreciation of this Governments;
a consent which might, in the present emer-#
gency Of the public demands, iustifably be
given in advance of any action BY the
States as an inducementt to such action upon
terms. well defined by the act Of tender
Such a measure, addressing itself TO the
calm reflection Of the States, would find in
the experience Of the past, and the condi-
ton Of the present, much to sustain it,
And it is greatly 70 be doubted whether any
scheme Of finance can prove for any length
of time successful, while the States shall
continue in the unrestrained exercise Of the
power Of creating banking Operations
This power can only be limited by their con-
sent.
& With the adoption Of financial agency
lof satisfactory character, the hope may be
Il INDUCED that the country may once more
return to a state Of prosperity. Measures
auxiliary thereto, and, in some measure, in
/ separately connected with its success, will
doubtless claim the attention Of. Congress.
!, Among such distribution of the proceeds
f of the sales of the public lands, provided
such distribution does potforce upon Con-
gress the necessity of imposing upon COM
3 merce heavier burdens than those contem-
: plated by the act Of 1888, would act as an
s efficient remedial measure by being brought
directly in aid Of the States. AS one sin
I cerely devoted TO the task of preserving q
e just balance in our system of Government
by the maintenance of the States in con
i dilion the most free and respectable, and il
y the full possession of all their power, | cal
y not otherwise than feel DESTROYS for thei
q emancipation from the situation to which
e the pressure on their finances now subject
, them. And, while must Tepudiate, as
RI measure founded in error, and wanting con
3 stitutional sanction, the slightest assumption
IS by this Government Of the debts of ih
e States; yet can see, in the distribution ad
" verted to, much to recommend it. Tn
b compacts between the proprietor States an
i. this Government expressly guarantee to tn
Sc States all the benefits which may arise fror
At the sales. The mode by which this is to b
IN effected addresses itself TO the discretion @
o. Congress, as a trustee for the States, and il
ar exercise, after the most beneficial manner
a. is restrained by nothing in the grants or tn
or Constitution, so long as Congress shall cor
n suit that equality in the distribution whic
4. the compact require. In the present COZ
dition of some of the States, the questio
rs of distribution may be regarded as substar
-. TALLY question between direct and ind
no rect taxation. IF the distribution be nj
Va made in some form or other, the necossit
"a will daily become more urgent with th
an debtor States for resort to an oppressiy
en- system of direct taxation, or their credi
"a and necessarily their power and infuenC
re- will be greatly diminished.
he The payment of taxes, after the most il
cd convenient and oppressive mode, will be e.
:, acted in place of contributions for the mo
part voluntarily made, and therefore comp
~, Eratively unoppressive. The States are en-
'us phaticaIly the constituents of this Cover
On ment; and we should be entirely regardle
st, of the objects held in view by them in Il
les creation of this Government if we could
of Indifferent to their good The happy efR
M ofsuch a measure upon all the States won
her Immediately be manifested. With the del
III, or states it would effect the relief to a gre
bat extent of the citizens from heavy burde
of direct taxation which presses with seve
4. y ty on the Iaboring classes, and eminent
me assists in restoring the general prosperit
er, An immediate advance would take place
the the price of the state securities, and the at
a tude OF the States would become once NOR
TO as itshopld ever be, lofty and erect. Wi
of states ,laboring under no extreme pressu
me from debt, the fund which they would deri
III. from this source would enable them to il
49, prove their condition in an eminent degre
So far as this Government is concerned, a
preparations to domestic objects, approachi
slS in amount the revenue derived from the lal
sales, might be abandoned, and thus systt
Ign Of unequal and therefore unjust legisati
pa wou Be substituted byone dispensing equ
Gus ity to ali the members of this confederaC
Of Whether such distribution should be ma
ave directly to the states in the proceeds of t
IN. sales, or in the form of profits by virtue
3, the operations of any fiscal agency havi