The Illinois free trader. (Ottawa, Ill.) 1840-1841, 1841-01-01

,deniably the case, what national grounds
,uld have been conceived for anticipating
ught but determined opposition TO such
n institution al the present day!
| Could different result have been ex-
,ected, when the consequences which
lave flowed from its creation and partic-
larry from its struggles to perretuate its
Existence, had confirmed ii so striking
manner, the appreheEsions Of its earliest
opponents; when it had been so clearly
demonstrated that concentrated money
bower, welding so vast capital, and
combining such incalculabe means oil IN
Huence, may, in those peculiar conJunc-
cures to which this government Is unayold-
ably exposed prove an oyermalch tor the
political power of the people themselves !;
when the true character of its capacity to
Regulate according to It's will and It's lnte-
rests, and the interests of It's tavorltcs, the
value and production of the labor and pro-
perry ofevery man in this extended country
had been so fully and feariully developed;
when twas notorious thatall classes OF this
lgreatcommunity had by means OF the pow
era d influences il thus possesses, teen IL
siected to madness with asplrlt OF needless
speculation when it had been seen that,
secure in the support of the combination
of influences BY which it was surround
ed it could violate its charter, and set the
laws at defiance with impunity; and
lwhen, too, it had become most apparent
lthat to believe that such an accumulation
o. nowers can ever be granted withoutthe
certainty of being abused, was to indulge
in fatal delusion
70 avoid the necessity Of permanent
debt, and its consequences, have adyo-
Gated, and ondeayourcd to carry into ef-
feet, the policy Of conhnlng the approPri-
atoms for the public service 10 such OBJ
jects only as are clearly within the consu-
tutional authority of the federal govern
ment, of excluding from It's expenses those
improvident and Unauthorized grants of
public money for works Of internal i'm
provement, which were SO wisely arrested
by the constitutional interposilion of my
predecessor, and which, if they had tot
been so checked, would long before this
time have involved the finances OF the
general government in embarrassments far
greater than those now experienced by
any of the states; of limiting all our ex-
pendtures TO that simple, mostentatlous,
and economical administration OF public
affairs which is alone consistent with the
character of our institutions: of collecting
annually from the customs, and sales of
public land, a revenue fully adequate to
defray the expenses thus incurred, but, UNI
der no pretence whatsoever, to impose tax
es on the people 10 a greater amount than
was actually necessary TO the public SER
vice, conducted upon the principles have
stated.
In lieu of National Bank, or Deepen
dence upon banks of any description, for
the management of our fiscal affairs,
recommend the adoption of the system
which is now in successful operation.
That system affords every requisite lacili-
ty for the transaction Of the pecuniary
concerns of the Government; will, it is
confidently anticipated, produce in other
respects many Of the benefits which have
been from time to time expected from the
creation of a National Bank, but which
have been never realized; avoid the mani
fold evils inseparable from such an instl-
tution diminish, to greater extent than
could be accomplished by any other
measure of reform, the patronage OF the
Federal Governments wise policy III all
Governments, but more especially so in
one like ours, which works well only III
proportion as it is made TO rely for It's
support upon the unbiased and unadulter-
ated opinions of It's constituents do
away, forever, all dependence on corpo-
rate bodies, either in raising, collecting,
safe-keeping, or discussing the public
revenues; and place the Government
equally above the temptation of fostering
a dangerous and unconstitutional institu-
zion at home, or the necessity of adapting
its policy to the views and interests OF still
more formidable money power abroad.
1t is by adopting and carrying outthese
principles, under circumstances the most
arduous and discouraging, that the attempt
has been made, thus far successfully, to
demonstrate TO the people of the United
States that a National Bank at all times,
and National Debt, except it be incurred
at period when the honor and safety OF
the nation demand the temporary sacrifice
Of a policy which should only be aband-