The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-05-11
PoR THE MADIsoSIAN.
THE STATE DEBTS.


great portion Of the Union, comprehending of
The largest and most popuous States, is deeply in
yolved in debt, and without means TO pay even the
crnng interest, Nor is this the worst. The States
are prohibited from imposing duties on imporatons,
and from an anxiety to do nothing, which shall i'm
pair the political strength Of his party, it is obvious
that no leading man Of either side is willing TO pro-
pose direct tax adequate to the cxigency Of the
don.
In tiis emergency what is TO be done2 To proceed
longer in the present cause is TO end in State bank
| ruptcy and national disgrace. The honor of the
county is at stake Let no man imagine that he is
not interested in the character for honor and proby
Of Pennsylvania and Illinois, because he is not citi
| zen Of either Of those States. Heis a citizen Of the
UNiok, and he cannot escapehe cannot be insensble
70 thu reproach which will be heaped upon the
try should of the States show herself regardless Of
! tie high oblis~.io.. Or heI plensed naiti..
He may, indeed, while he looks merely at home, feel
something like exultation that his lot has been cast in
State under happier influences but when the public
opinion of Europe is borne the Atlantic; when
the Kissing of the capitalist who holds in his
hand these certificates of national dishonor strikes
upon his ear, he will feel only American, act
zen Of republic can feel that the violation of the
public honor involves personal degradation, and he
will blush for the country which he calls his own.
Members of the 9th Congress, to you the country
looks to rescue her from this deep disgrace. The
States are powerless Some of those most in debt
have the ability TO meet their engagements by tax
alton Additional loans would only increase the evil,
and to be eiectual, relief must come from Congress.
1t is not expected that the Federal Government
should assume the State debts, although it must be
borne in mind tina, many Of these debts were incurred
in dscbarging duty which more naturally belongs
to Congress, that Of internal improvement; while
others created in endeavorng to supply and regu-
late the currency when the Federal Government
abandoned the duty entrusted to it by the Constitu
ton, of regulating that subject
While however, it is not required, nor even con-
tempated that Congress should assume those debts
still desirable that encouragement and essential aid
should be afforded by that body to the States to meet
their engagements in the existing emergency. Much
will be done by the passage Of Mr. Clays bill for dis
trburing the proceeds of the public lands among the
States This will not, however, be sufficient in all
cases For instance the State Of Illinois has incurred
a large debt in the construction Of canal between
Lake Michigan and the Illinois river. The canal is
not yet completed and the low price of her stock pre-
vents ts completion the part of the State The IN
terest on the debt already incurred is going on, and
there is no equivalent in the shape Of canal tolls for
the canal is unfinished. Here is case where the
power of Congress may be exerted to complete the
work and to make productive large mass Of capital
already expended. Let subscription be authorized
by Congress for the completion Of the canal and essen
tial relief is at given. The State will feel that
her ms have not been idly expended and aided by
the fostering hand Of the Federal Government, she
will make new and efectual exertons to pay her IN
| terest and to comply with her engagements. Such
subscriptions fall within the power OF Congress- and
its power has been often exerted in that manner to and
/ in the completion of public works.
In 1896 the Secretary of the Treasury was author
lied to subscribe $4,000 for GOO shares of the Dis
| mai Swamp Canal Company, and 100000 to the
\ Louisville and Portland Canal Co.
| In 1925, under Mr.. Monroes administration, $500,
600 were subscribed in like manner to the stock Of the
Chesapeake and Delaware Canal.
In 1928, 81 900 900 were subscribed by the " g. to
the Chesapeake and Ohio Canal 20.
In 1929, additional subscriptions were made to the
| Chesapeake and Delaware, the Dismal Swamp, and
the Louisville and Portland Canal Companies.
| Other instances might be adduced where aid has
been extended by Congress to States for the consruc
ton of their public works In 1902, per cent of the
proceeds Of lands in Ohio granted to make roads
from the sea coast that State and the next year
DER cent more were granted make roads in the State
Subsequently, similar grants were made to othe'
States; viz in 1Sll to Louisiana in 1916, to ind
ana in 1917, to Mississippi in 1918, to Illinois; IN
1919 to Alabama and in 1920, to Missouri In 1877
lands were granted to aid in making the Illinois canal
the Wabash canal the road from Lake Michigan tt
| the Ohio River and the road from Sandusky to Co
lumbus.
In 1928 similar grant was made to the State
| Alabama, TO improve the navigation OF the Iennes
see. Coosa. Cahawba, and Black Warrior Rivers.
During Gen. Jackson's administration, direct appro
mint ions were made from the Treasury, for these
public works. notwithstanding the affected Constltu
tional scrupes urged by lovers of distractions
there is probably no power that has been more con
stantly and more bencically exercised under every
administration from 1902, to the present time, thar
this of contributing the internal Improvement of thu
4 country.
At the present time there is peculiar reason for an
efficient exercise of this power It will restoIe,he dy
ing credit Of the States prevent national character
from being furnished in the eyes of Europe, give f
| and activity to large of dormant capital, an'
| spread prosperity and contentment throughout TIM
| great confederacy.
These objects OF great national Importance, an'
will fully justify great national effort to accomplish
them. Let Congress dismiss all metaphysical reason
ing and apply the great powers entrusted TO It by tn
Constitution, to furnish remedy to the difficulty II
which the country is involved, and the gordian kno
! will be forthwith severed. The credit of the States
will be re-established the industry and enterprise
the nation again set in notion and the country Will
once assume, and as If by magical power that atti