The Yazoo Whig and political register. (Yazoo City, Miss.) 1840-1842, 1841-04-16

and all Witch, If properly husbanded, IopetE.
er with the resources 70 be obtained from
Iiudicious liquidation of the defaultine banks
for whose account the state is involved, and
our public debt could most probably be paid
without requiring any direct assessment of /,
taxes upon the people whatever. / am not
assured, these equalizied advantages 10 the
new states can be obtained Withihis revenue:
but. supposing they may be, | present these
considerations for your reflection. si.
It may be questioned also if the policy Of
permitting the general government to raise
revenue by speculation in public lands is not
more specious than orthodox. No party
would tolerate the government in entering
into similar speculation, in trade and COM
merce for the like purpose. In 1886, more
than twenty millions Of dollars was derived,
to the national treasury from the sale Of pub.
tic lands If this were a permanent income,,
what more likely to corrupt the powers and
action Of the government? | have always
regarded the effort avowed at recent date
of rendering the national government indie,
pendent in its fiscal resources, as implying a
policy Of relieving it also, from that whole
some responsibility, indispensable to its Just
restraint. In accordance with an establish
ed policy in the dynasties of the old world,
our government retains ownership in all the,
mines found on the public domoin. Suppose,
those of the precious metals were discover
ed which would yield net revenue Of forty
millions a year, would not all prudent, poli-
ticians concur in its Distribution RemOv-
ed as the government is from the daily obs
servation and more intimate concerns fthe,
people, il thus independent in its resources
what less than corruption, imbecilty and,
injustice could be expected from its admin
istration? The taxing process is the main
sympathetic chord between the government
and the people, and serves as popular host,
age for the integrity, virtue and economy Of
the government in all its action and expen-
ditures. There is no party in this or any
other government whose virtue could be long
relied on, against the temptations Of an
abundant treasury obtained without taxa
ton upon the people. ~. 4,
Not withstandlng all these considerations
however, and in whatever light this uues-
ton of the public lands may be viewed. il
will not be pretended by me that the present
proposition is not liable to objections. But
what other project has been or can be pro-
posed which fillmore acceptable to us, would ,
not be successfully objected to form other
quarters. Though accustomed to look upon
this landed interest as more directly our own.
yet twenty six States have to be consulted
in all the varied and vexed questions which
pertain to the subject: and IN no other in
stance has so much unanimity ever discover.
ed itself as in behalf of this project. In 1882
President Jackson recommended that these
lands should cease to be source of revenue
and be sold out to actual settlers at prices 10
quit costs and charges Of Indian compaets
and public surveys, or surrendered 10 the
States in which they lie. have been dis,
posed TO regard this recommendation, as the
most truly polite and statesmanlike. Butts
accomplishment is utterly visionary and hope.
less. Fay ~~''' u
The old states, including Kentucky. Ohio.
Indiana and Tennessee, will never Weld 10
to such terms. On the contrary / atn con!
Vinced they are becoming more grudging in
their land bounties to the new states every
year; and but little I apprehend in this re-
5pect may we promise ourselves in future,
unless obtained from their more generous.
emotions in concentrating this act of distri.+
button.
There are two other questions which will
most certainly engage the deliberations Of
Congress, and probably be considered Of tO-T
yetheT, namely, the repeal of the b-Trea-,
sury Law, and the Incorporation Of United
States Bank.
Successful as were the late administrations
or time in constraining Or manufacturing
public sentiments as adverseto a bank. there
9 good reason to believe that large majority
IT the States, and alarge majority of the peo-
pie are now land most probably for years past
1ave been) in favor of such an institution
Some diversity Of opinion doubtless obtains
IS to the details Of such measures but that
here should be nation papercurrency, per-.
laps seven tenths of all those who would 4,
olerate any paper currency at eli, are fully
convinced OF, and prepared to approve
though / considerable exclusive metallic par
" small In number, and for the present age
y least, pursuing an impracticable theo-la
y; yet do verify believe when any party
'hall become permanently formidable against
ttt national paper currency, siaie paper cur
ency, will not survive alone. derive this
opinion from the accumulated combinations
II experience, that the State bank system
rom local and adverse interests, its greater
usceptibiliues to the accidents Of trade, and
financial indiscretions cannot be sustained
Without United States Bank. Though the
Banks Of some States were favorably located
IS to commerce Of temporarily aided by other
luspicious circumstances, may challenge e.
much 81 public confidence, and bid fair for q y
eason, yet IS asystem il cannot be relied on.
I Is NOT without codsiderable hazard when
trengthened and protected by nationalsvs-