Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1841-01-09

minated 'rhe debt Of 1S4l," which it will be
he duty Of Congress TO provide for.
In one or two other respects the message is
TO create quite an erroneous impress !
sion. In the 5th page the President speaks on
The subject Of the Treaury notes in as mitgated
a tone as possible, and tells us, first, that 'ths
small amount still outstanding" is "composed Of
such as are not yet DUE" | suppose we all know
that; and then he adds that they are "less by
twenty three millions than the United States
have on deposite with the States" ask the
Senate, and would, if could, ask the Presi.
dent, whether he means 10 recommend to Con
gress to withdraw the deposites now in the hands
Of the States to discharge this debt on Treasury
notesY Do the Administration look to these de-
postes as fund out Of which to discharge any
of the debts Of the Treasury? find no recon-
mendation OF such a measure? Why, then,
were these two things connected? There is
nothing in the fact that the amount Of Treasury
notes is less by twenty-three millions than the
amount deposited with the States, unless he
means TO recomm end that the latter sum shall be
looked to as means Of dschargng the former.
Does he mean to inform Congress that twenty
three are less than twenty. eight? If not, why
are the two thus placed in juxtaposton? The
Secretary Of the Treasury treats the matter in
much the same way. He speaks Of the depos.
ties with the States as Of funds in the Treasury.
Look at his report. In stating the resources Of
the Treasury, he mentions the % millions on de-
pose with the States. What can be the pur.
pose Of such statement? When Secretary Of
the Treasury presents to the world statement OF
the means Of his Department, it is universally
supposed that his statement is confined to what
either exists in the Treasury, or is likely TO ac-
crue under the operations Of existing laws But
this deposite with the States is no more under
the control Of the Treasury than any other mo.
ney in the country. He knows full well that
an act Of Congress is as necessary to his disposal
Of any part OF that sum, as it is to augment the
rate OF duties at the custom house The Trea.
sury can no more use the depostes with the
States, than it can lay direct tax. What can
be the purpose-the fair purpose--of presenting
sums as funds in the Treasury when they are not
in the Treasury? Or what can be the fair pur-
pose OF referring to fund as means OF pay
ment when it cannot be touched, unless the
President means to recommend TO Congress to
recall the deposites made with the States? That
Congress can do, and so it can augment the rate
OF duties, but till it does, those deposites are no
more means in the Treasury than If they belong,
ed to another nation. The day, | hope, will
COME have long desired it-when we shall see
plain facts plainly stated; when the reports Of
our fiscal officers will deal less in guesses at the
future, and will use forms and phrases, | will
not say that are designed to misead and mistiiy,
but the result Of which is to misead and 10 mys-
tify the nation.
said that though the honorable Secretary pref.
ty clearly ntimates that we must resort to new
issue OF Treasury notes, yet the result of all is,
that If Congress wish to avoid the necessity Ell
Their Of increasing the duties, or Of issuing new
Treasury notes, he has resource ready for them,
viz: to reduce their appropriations below even
his own estimates. This is much like what he
told US last year. aud yet when we did reduce
our appropriations within even his estimates, still
the Treasury is in want Of money.
One other remark is suggested by what the
President says to us on the 9Th page OF his Mes
sage. He tells US that it is possible to avoid the
"crcation Of a permanent debt by the General
Government" and then goes TO observe,-"But
to accomplish so desirable an object, two things
are indispensable: first, that the action oil the
Federal Government be kept within the bounds
prescribed by its founders" Now, | did sup.
pose that this duty Of keeping the action Of the
Federal Government within the bounds o! the
Constitution was absolute; that it was not affect.
ed by times, circumstances, or condition, but was
always peremptory and mandatory What is the
inference 10 be drawn from the language OF the
President! If the Treasury is empty, you must
keep within the Constitution; and what if it is
full? Are you TO break its bounds! To trans
cend the Constitution? had always thought we
should neither be tempted 10 this by an overflow
ing Treasury, nor deferred by an empty one from
taking such course as the exgencies oil the
country might require.
There is also an important omission in the
Message, 10 which would call the notice OF
the Senate, and OF the country. The President
says the revenue has fallen of two and hall
millions Of dollars under two biennial reductions
Of the rate Of duties at the custom houses under
the law Of 1888. Be it so. But do we not all
know that there is before US, within year, and
a half more another and the last Of these reduc-
tons? Do we not see, then, from the present
existence OF large debt, and from this further
reduction Of duties Chat is, il nothing shall be
done to change the law as it now stands) that
case is presented which will call for the deliber
alton and wisdom of Congress, and that some ef.
fort will be required to relieve the country.
But here is no recommendation at all on the
subject OF the revenue. No increase is recon-
mended OF the duties on articles of luxIy, such
as wines and silks, nor any other way suggested
Of providing for the discharge of the existing
debt. Now the result Of the whole is, that the
experience of the President has shown that the
revenue OF the country is not equal 10 its exPen-
diture; that the Government is spending seven
millions year beyond its income; and that we
are in the process of running right into the jaws
Of debt; and yet there is not one practical recon-.
mendaon as to the reduction OF the debt, or its
extinguishment but the Message contents itself
with general and ardent recommendations not 10