The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-02-13
WHOLE NO. 44o.

engineers, having charge Of extensive and important
public works assured me last session that he conIl
demonstrate TO mathematical certainty that in conse
quence ofihe delay and nsuicency of appropriations
these works cost al least quarter than they
would under system of prompt and sufficient appro-
priations. have no doubt of IL. True economy re-
qures that work, once undertaken should be pro-
secuted with vgor, and that ample means should al all
times be at command. In this way, the person in
charge Of il may always avail himself OF favorable
circumstances which constantly occurring to OBJ
tam materials and labor the smallest expense Much
u saved IN repairs the structure is fit for ser
vice, and the public interests are in every way pro-
NOTED But this Is not the mode in which our affairs
are no" conducted, nor the principle upon which the
gu, a'e formed and the appropriations made.
no" ucn can the service be pinched and embarrass-
co. ana retarded by reduction seem to be the cunsi
derations which govern the counseIs OF the Deoart
men's IN their present estimates and a, time when
VERY pfahcn o. me pubic service is languishing and
almost PROSTATE, the only recommendation submitted
TO us from the Executive is to push reductions ygor
ousiy"
The Secretary, in closing his "last annual repor,
enters nio review OF some of our financial opera
tons during the period he has been connected with
the Department and he states that "durnp this term
there has occurred much to evince the great fiscal
power as well az prosperity Of the Union" Although
some reverses have al times ovetaken the rashness
displayed by parts ofthe community in certain branch
es OF business, yet the PERIOD and the country as
whole, have been almost unerampied in prosperous
deVeioPments Notwithstanding unusual Teyul
slons, and biennial reductions Of duties and losses by
officers, and banks, and merchants ? "our condition
has been furnishing as to weld a revenue during
that ume sufficient after all these deductions to ac-
compiish the following important results" and then
follows the enumeration Of the purposes which have
been accomplished All this, the Secretary says, is
and the fiscal ability Of the General Government
NOW sir have no desire to disturb or find fault with
TINS compliment sefcongratulation but desire for
single moment to consider what the condition Of the
Ia r ~
w here is the evidence of it The National Govern
men embarrassed in all its operations, and strupgng
on from day to day under the pressure of an insovenI
treasury; public works neglected and postponed ;
public credit endangered: Then, as to the States
most Of them deeply debt and hardly able to pay even
the interest as 1t accrues their bonds from 10 to 80
per cent. below par /, their internal improvements
abandoned in great degree, and resort to heavy
taxes inevitable with no prospect Of immediate i'm
proyement In their condition. As to the affairs of in
divduals what kind of business is prosperous a.
Manufactures have largely declined commerce, dis
tinct from navigation, diminished internal trade
greatly reduced specie payments Suspended over
sumed in the great State of Pennsylvania and from
all quarters OF the land, with one voice. a demand
for bankrupt law, TO relieve the business Of the
country from the enormous pressure Of debt which
now bears It down to the dust
How is It with the planting States-the growers Of
the great staple our exports Are they prosperous
Why sir the marshal of Mississippi returns to us
that he has received for fees last year the enormous
sum OF eighty-seven thousand dollars growing out Of
the immense number Of suits instituted for the recoye
ry OF debts The banks Of the State are unable to
pay the small amounts still due to the United States
for deposites, and have applied for still longer post
ponement How is it in Alabama, and the other cot
ton-growlng reglonsl Cotton, | believe, has been
ranging last year from to or cents-probaby not
bringing over or to the planter. recoect to have
seen 1t stated within few years that the Of the
production Of cotton was about or cents. Some
gentlemen can probably put me right that matter.
/ Mr. Hubbard Of Alabama, nodded assent to the
statement The honorable member signifies that
am correct. The cost to the planter therefore, has
been quite equal to- perhaps in instances greater
than, the amount he has been able to sell for Is that
a prosperous condition of things The Secretary
says 1t is source of great satisfaction to witness
the indications which the Unprecedented amount of
exports, during the last four years. has given Of the
continued prosperity of the country" &c. Again
The general prosperity has been such as to create
large surplus OF products and to enable send
abroad immense, and increased pailes of them how
ever great the complaints have been low prices"
Now, sr II prices are low scarcely remunerate
the PRODUCER IT does not strike that the great GUAM
tity produced is very good evidence Of prosperity -
General prosperity made up Of individual prosperity;
and how the country, as whole, can be successful
when all branches Of its business depressed is not
very apparent to my mind Undoubtedly it is better
to produce and sell even at low prces and thus fur
nlsh as far as goes, means of extnguishng our TO
reign Indebtedness, than not to produce all because
the laborers, if not employed, still be subsised
and clothed and II they cannot earn than half
their support 1t is better do that than remain in idle
ness All that be said is that By reason Of our
great production, though no profit is made upon it. we
are not so deeply involved and so much distressed as
we should be If the crops entirely failed The grain
growing sections of the countryside great West the
growers Of pork and other provisionsare they pros
porous DO they find ready markets and remune-
rating prices We know that il is not so and vet
we have recorded epdence Of The prosperity Of The
country Sir should like to read this record else
where than in the universal embarrassment and de-
preston which broods the whole land and ALL
all brought upon within this very period which the
Secretary has selected xampled in prospe
rous developments all within the last eight years.
The recorded evidence" to which the Secretary re-
fers is found only in the vast receipts into the Treasu
ry which have enabled him accomplish the great re-
suits he has enumerated The Secretary has not al-
ways considered il in that light. The enormous re-
ceipts alluded to occurred chiefly in two years 1885
and 1886, and in considerable degree from most ex-
traordinary and Unexpected sales of public land
The receipts of 1885 were about 1886 500 600 of which
100000 were derived from the lands. The re-
ceipts OF 1886 were close upon $4,000 900, of which
over 24000O00 were derived from lands
Whole amount for two years, 1884, 3O3, 05l
Expenditures during the same years, 1925, 900
Excess of receipts, $3T, O54 ,05l
These years. therefore the great source othe vast
receipts which the Secretary now regards as record-
ed evidence of our prosperity, because the receipts
the last four years have not equaled the expenditures
Sir cannot but recollect how often within the last
two years. have heard the importations and the land
sales of those years denounced as overtradinpn-
speculation forced on by bank xpansions-prow-
ing out of fictitious credit and the cause Of all the
embauassments and revusions which followed The
specie circular was issued avowedy check the land
sales which were going to such dangerous extent
What vehement dcnunciations have we not listened
to both of banks and of State debts as occasioning
such enormous importations from abroad destructive
of our industry and our resources And vet il was
these very mportaons and sales which furnished the
Treasury with money--now relied upon as "recorded
epidence Of The prosperity Of The country The Sc