The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-08-25

even if the present bill were 10 beo,ose
law, and prove to be productive, some ~
would elapse before sufficient supnla
would flow into the Treasury, whiS
the meantime, lis embarrassments won ~
be continually augmented by The sem; ~
nual distribution Of the land proceeds
Indeed there is but 400 much gro,,,
to apprehend That even il this biI7 wv u
permitted TO become law, aliena,ed - ~ !.
does the proceeds Of the land sales, an :.
tual deficit in the Treasury would occa.
which would more than probably involY,,
the necessity of resort to direct taxa,;oo
Lett also be remarked, that S., 500 Oo0
Of the public debt becomes redeemabIs :
about two years and half, which, a, an.
sacrifice, must be met, while the Treas,,,
is always Liable TO demands for the nav
men, Of outstanding Treasury notes. Su:I
is the gloomy picture which our finenri,l
Department, now presents, and which eaII'
for the exercise OF rigid economy in Ibs
public expenditures, aud the RENDERING.
yailable Of oil the means within the CONT
of the Government. | must respec,fnpn
submit, whether this is a time TO give /,
way the proceeds Of the land sales VIA.
the public lands constitute fund which
of all others, may be made most useful :
sustaining the public credit. Can hs
Government be generous aud muniscs,,
to others when every dollar i, can com.
nand is necessary 10 supply It's own wap,,,
And if Congress would not hesitate to 81.
fer the provisions Of the act Of 4Ih Sep,eu.
Der last to remain unrepealed ia case 4.
country was involved in war, is not the M.
cesSiiy for such q course row Just os IN.
pcraIiyc as ii would be then
3. 4 third objection remains to be mr..
cd which would be sufficient, IN Itself. 10
induce the TO return the bill TO the Hos
with my objections. By uniting two slb.
: jects so homogeneous o. Tariff and Ds,f
button, It inevitably makes the fate of ia
one dependant upon that Of the other
future contests Of party. Csn any thu,
be more fatal 10 the merchant OF manuat
turer than such an alliance What l5ty
. most OF all require lsu 81 stem Of mcdefss
duties, SO arranged Us to Withdraw 10
Tariff question, Us far rs possible, cor
ploiely from the arena OF political cones.
ton. Their chief want IS permaneney
and stability. Such an increase Of .5s|
Tariff, ! believe 10 he necessary, in oftsr
to meet tho economical expenditures II
Government. Such an Increase, made Il
the spirit Of moderation and irdicious a.
elimination, would, ! have no doubt, I'll
entirely satisfactory 20 the great majqtiy
OF the American People. In the way j
accomplishing measure SO saluiaU III
so impera,ively demanded by every gsHc
interest, the Legislative Depar,meni VI
meet with cordial cooperation on the raa|
Of the Executive. This is all that I'll
manufacturer can desire, nnd IL would y j
burden readily borne by the People, III
| canao, too earnestly repeat, tina, 10 cfl'f |
to be beneficial II must he permanent, Il!
IN order be permanent, it must ootnmaal
! general acquiescence. But can such psaI
nanency, be justly bapad fisr - ,ba Psrs
: question be coupled with that OF Dsinls-
ton, az TO which serious conflict Of Oss
ion exists among the States and the Peoqs
which enlist IN its support bare MAJORITY |
of the two Houses Of Congress Va
pcrmanency or stability can attach lc \
measure which, warning upon itself, g'c
away fruitful source Of revenue al u
moment ii proposes a large increase
taxes, on the People Is the mhnuiaciG
or prepared 10 stake himself and bis la'e'
ests upon such an issue
! know that 1t is urged, but most en'
Eeously, in my opinion, that instability
Just rs api to be produced by retaining
public lands as o source Of revenue as ifrs
any ether cause, aud this is ascribed to
constant fluctuation, as IL Is said, 10 .
amount Of sales. II there were any ihf
- this objection i, equally applies TO ev
~ Imposition Of duties on imports. IA
amount of revenue annually derived frOa
duties IS constantly liable to change. TA
regulations Of foreign governments, tbs r.
ying productircness Of other cOua'rc'
periods OF excitement in trade, and gt.I
variety Of other circumstances are en-
stantly arising 10 affect the stale Of con
morce, foreign and domestic, and Of co
sequence the revenue levied upon H. Ial
sales OF the public domain in ordinary TINS
are regulated by fixed lnws, which baE'
their basis IN a demand Increasing only q
the ratio of the increase of population
In recurring TO the statistics connecti
with this subject, i, will be perceived ih1i
Tor period Of ten years preceding ls5l
The average amount Of land sales did H'
exceed S2,000,000.
For the increase which took place Y
ls3i-5 mud @, we are TO look 10 that Pc
cuiiar condition ofthc country, which greS
| out oil one Of the most extraordinary eH
elements in business and speculation 'hli
have ever occurred in the history Of CON
morco and currency. |, was the FRAT q
Wild spirit Of adventure, engondcreG hys
vicious system Of credits, under the e'ls
OF which the country is still IabourIng, ana
when u Is n5.sIiy ~ - ,r;ll M, soon re.
cur. Considering the vast amount o. ~
vegtmnnts made by nriyafc individuals ~