Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-06-01

taxes upon all and thus swell the fund for distribution
while he who had no property and would reap comPa-
ratiyely little benefit being compelled TO pay nearly
emma, amount of the tax with his rich nelshbor, would
cnnose the policy, and feel himself oppressed by II ::
Would not the of property 50 situated as !" re
ceiye little benefit relative injury, IRON such WORKS.
feel that the rule of equal taxation applied to hin ana
n The man whose property and business were directly
benefited, was unequal and unl ust In uf'el as
sessment upon property the valuations wouin ena'%
the burdens. Not when the tax should DC l"uhee'
and equal according 10 the necessarles ana conEen
ences Of life consumed. Was y not apparent .'o
Shese brief suggestions that such pocy must SIT
he community at variance, aud produce s'fcs '''e
host DANGEROUS to any well regulated society," u'"''
2slrifrs which personal and private INTERESTS
There was still another aspect III whc, t"'. ~!
n;rh, bs viewed even more frght!ul anu disturbing
|r 49,. nn.,.,, G,r Conuress 10 direct the expen-
d;,pro os The fund to be distributed taahy extent !"
could do so TO every extent. II MS powers cou'u Io
.a he state Legislatures in their application OF ~,
,hc came movers would enable Congress 10 Apply u
wi,hou, the intervention o those q" 90
M, min, uur upon the territory and jurisdiction oil tir
So II Congress could declare that the money
honld h. devoted to the purposes OF education, u could
il TO the particular schools or, per capita,
mon The scholars taught. If this could be consttn-
,,onolly done the same power would e2teho 10 as
,,hnon Of money per capita 10 the whole population
ne the country for any specified purpose, or Tor the USE
If the REGIMENTS at pleasure. Establish Tins power III
his Government, and then admit what cannot oe
denied that if Congress can RAISE money by impos'
Ear distribution the States or their citizens, IL can as
we'll raise il for that purpose by excise, difecl a3ao'
~ in any other way in which II can raise revenue at
an and see what state of things may be produced by
The practlcal application Of tins splendid poicy rush
forward the interests to be enlisted until The revenue
from customs fails satisfy tein-try the excise, ana
il must also iail-and then come TO ao'recl Tax" "
he levied upon ali property by FAR valuation ana ds-
tbued per capita to the whole people, and we shall nave
system OF agraranism, established under our lohSil
| tutron and laws, more perfect than any wh'c" mao
come 10 his knowledge, devised by the most radical
oco Foco in the land Gentlemen mlghl say MP Ma'
n,;nr =, eYi-eme case and an improbable snPposlion
So he considered the proposition for distribution OF any
portion of the public revenues, IN any lofh' "' :" az
partes other than for the legitimate expenditures, "
The common Government; and more esPec'a''s !" o's
,rhns material portion Of the necessary revenues o.
d.Gcisn, Treasury Ii the latter was constitutional
and owfn he left for those who could do so 10 snow
why the former not equally SO w p''neiP'' ~"
ever much less wise 1t might be considered III praece
All these considerations had Prodneea ,he mos
.nyc,;on in his mind that the power oil distribution,
- onv farm oupt not TO exist and, not being fouhd
in the Constitution among the enumerated ana
" granted powers, that Congress ought not 10 assume
i from distant implication, or upon doubtful co"s"u'
ton. = 49,:
nronosition which he wished very briefly to notice,
IL was that the credit of the States was depreSseu
and il was duty 10 aid in RAISING them asaii ao
RESTORING their stocks and bonds to current ana par
valne He differed from the gentleman upon Inc oihci
side in relation TO our duties, touching lhc S"sc
debts and The State credits In his opnion our GIti'"
would be best discharged by attending TO INC ous'esS
Of this Government, and leaving the states % a'e"'
TO thcirs-by exercising the taxing powers gwen ~ ~
hv tbp Constitutions TO pay the debts ana sustain me
cycd;, and faith and honor Of tie Union, end leaving
the sovereign States TO provide Tor their own depis' III
their own time and way, and through their own powers
NJ taYaiion We seemed forget that the const'tu.
ency the in both cases lbe people 10 We ""'1
in each State IRE the same, whether lhe tax OF ia
posed by law of Congress, or by the aulhnf'iy o.
the State, aud the PAYERS OF each Saie 10 i'hPrse
taxes upon lis inhabitants, Ter us purposes, ae - Pe
narv as are to impose taxes upon inc
of all the States, for the purposes OF TIE c'ihoh W.
yernment He would be the last man TO do any &c,
n,or,,on,llv 10 ninre any State, or liz credit, and
m,,h, we not by an interference with Their ceols ana
Their credit not entrusted 10 our care ana keeping, ac.
ually infict injury while intending 70 Urnel' 'i',
Their stocks and bonds sad to he depress. q III
the foreign markets, and IN We hahaS % "u
ore bu, how came they so dcpresscd and by whom had
ba d,r.sson been produced: By these saline i"feis
holders and purchasers What are We told IS tic nc
,ual condition. al this time, OF large amount 81 'ts e
securities abroad Not that they have been soid ~ ,s
markets even al depressed prlces, or sold Ill all ou
that they have been hypo'hecaed ior COZ"
= ,rif,nr advances, and under conditions o. ioi'
Future which have already attached lie could no'
youch for the amount OF these securities So s'ualsa
hut he spoke from public report which han Pi''a'ieu
through the newspapers, and elsewhere, !1r id"t
months without contradiction which had met his no
,,ce u,ben he sad that about a hundred millions ~
amount were supposed 10 be thus hypohecatcd, ana
that the average advances were SAID not materially W
coed 10 per upon the par value II We pioc' ca, ny
our LEGISLATION and the application Of our MEANS 10 rase
these stocks thus situated thus voluntarily depressed ~
the holders up to par there not danger That We shall
stimulate their cupidy TO perfect the forfeiture before
the States can command the means TO redeem lh'''
pledges and thus, III effect, make fortunes !Gr ines,
holders Of the hypothetical stocks, ana lnro" i'o ,'
current markets, against the States, debts double
in amount TO The considerations they will have re
ceyed If such should be consequence oil our inter
ference does any doubt that the injured oiate
would call upon Congress 10 pay that portion OF lhei
debts 10 which its gratuous acton shall nave @'v+t
force and value wthout consideration 10 them: lie
the States manage these matters themselves lhci
understand the terms upon which their securities ar,
held al home and abroad, and Their own interests II
regard TO Them nor are at liberty to assume tina
our interference is necessary TO protect Their iallh-
The holders have taken the stocks al depressed prre
by agreement, and equity between them ana tleI
debtors demands that The future regulation OF Tie vau
of the securities should be lett with hum.
Another ground upon which this policy OF disiriou
. ton was urged in portions oil the country, y nc
here was that would favor the protection oil Amer
can industry and American interests, by ealing io' a
increase Of duties upon imports. tie had addressc
the Senate, few days since, upon tins point, ana re
GREETED find that he had been unfortunate as 10
understood by very few and entirely b.
many. He would briefly restatc the substance Q
the argument lie then intended to make, when he woui
yield the floor to the distinguished Senator MIR. Clay
who was To follow hun.
In the minds of those who advocated the measure
Of distributing the proceeds Of the public lands to tn
States upon the ground above stated he supposed TN
reasoning to be that, The Treasury now requires al
the revenue derives, both from the customs and TN
lands If the revenue from the lands he taken from II
that from the customs must he increased IN iik'
amount, thus raising the rates of duty upon imports
and equen,ly adding the protection afforded by
the present laws. Illus effort was 10 show that TIN
conclusion did mol follow from the premises as ne
cessary consequence, for these reasons
A duty whatever may be its rate, affords no protec
ton while the importer of the foreign product or Ia
brlc against which the protection IS required hoid
sole and exclusive possession and control OF the mar
ket Such duty may yield rich revenue, and NJ
the Treasury, but until IT'S operation commences to e
exclusive and prohib,ory upon the imported article
it affords no protection the American competing IN
l,eres, When it does commence 10 be exclusive ant