Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1842-04-12

est fixed for its redemption. be extingulsh |
ed within any reasonable time. To re-
lieVe the treasury from its embarrassment
and aid in meeting its acquisitions, Inll
time is allowed for any new tariff OF du-
ties to become available, it would seem
TO be necessary to fund dept, approach
ing to So, GOO 900, and in order to place
tho negotiation ofthe loan beyond a rae
sonaLle doubt, submit to Congress
whether the proceeds of the public lands
should not be pledged for the payment
of the interest, and the Secretary of the
Treasury be authorized out Of the pro-
ceeds of such salss,to purchase the stock;
and also when it can be procured on such
terms as will render it beneficial in that
way to extinguish the dsbt, and prevent
tho accumulation Of such surplus, while
its distribution Is suspended.
No one can doubt that, were the Fed
eralTreasuTy now as prosperous as it was
ten years ago, and its fiscal operations
conducted by an efficient agency Of itS
own, coextensiVe with the Union, the en-
barrassments of the States and corpora
tions in them would produce, even if they
continued as they are, (Were that possi-
ble,) effects far less disastrous than those
now experienced. II is the disorder here
at the heat and centre Of the system,that
paralyzes ,deranges every part oft. Who
does not know the permanent importance
not to the Federal Government alone, but
to every State and every individual with.
in its jurisdiction, even in their most in
divd ual with its jurisdiction, even in their
most independent and isolated individual
within its jurisdiction, even in their most
independent and isolated individual pur-
suits, in the preservation efa sound state
of public opinion and judiciOus Admin
istration hereG The sympathy is instan-
taneous and universal. To attempt to
remedy the evil of the deranged credit
and currency Of the States, while the dis
ease is allowed to range in the vitalS OF
the government, would be a hopeless un.
dertakng.
1t is the full conviction Of this truth
which emboldens me most earnestly to re-
commend to your early and serious con-
sideration, the measure now submitted to
your better judgment, as well as those
to which your attention has already been
invited. The first great want ofthe coun-
try, that, without answering which all at
tempts at bettering the present condition
Of things will prove frUitless, is complete
restoration of the credit and finance Ofthe
Federal Government.
The source aud foundation Of all cred
il, is in the confidence which the Gov.
ernment inspires; and just in proportion
as that confidence shall be shaken or d.
minished, will be the distrust among all
classes of the community, and the derang.
ment and decentralization IN every branch
Of business, and all the interests Of the
country. Keep up the standard of good
faith and punctuality IN the operations Of
the General Government, and all partial
Irregularities and. disorders will be recti-
fed by the influence of it's example: but
suffer that standard to be debased or dis
turbed, and it is impossible to foresee, to
what degree of degradation and cOnfu.
sion all financial interest, public or pri.
vate, may sink. In such a country as
this the representatives of the people
have only to will it and the public credit
will he as high as it ever was.
My own views Of the measures calcu.
lated to effect this great and dsirabls OBJ.
ject, have thus frankly expressed to
congress, under circumstances which give
to the entire subject peculiar and sol.
emn interest, The Executive can do
no more. II the credit Of the cOun-
try be exposed TO question, it the
public defence be broken down or
weakened, il the whole admins
tration Of public affairs be embarrassed for
want Of the necessary means for Conduc.
Ting them with vigOr andefFeCt,I trust that
this Department Of the Government will
be found 10 have done all that was in its
power to avert such evils, and will be
acquitted Of all just blame on account Of
them. JoHN TYLER.