Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1842-12-09

holders OF It's stock, a large portiGn 81
whom were foreigners, %ed many Of
whom we're alike ignorant oT our poiiG-
Cal organization, and Of our actual re-
sponslb'liues. 1t was the anxi1a desire
Of The Executive that. in the effort TO ne
gollale the loan abroad, The Ana rican
neg0tiator might be able 10 point The !
money lender to the fund m]orlgaged for
The redemption Of the principal and IN.
ierest OF any loan he might contract, b.
thereby Vindicate The Government IRON
ell suspicion Of bad faith or inability to
meet It's engagements. Congress differ.
ed from tie Executive in this view Of
the subject. II became, nevertheless,
the duty Of the Executive TO resort 10
every eXpedlCnt in its power to negotiate
The authorized loan. Alter a failure TO
do so IN the American market, a citizen
Of high character and talent was sent to
Europe with no better SUCCESS; and thus
the Notifying spectacle has been pre-
scented Of the inability Of this Government
TO obtain a loan 30 small as not 10 the
whole 10 amount 10 more than one fourth
OF lts ordinary annual incomeS at a time
when the Governments Of Europe, al.
though involved in debt, and with their
subjects heavily burdened with taxation,
readily obtain loans Of any amount at a
greatly reduced rate of interest.
1t would Ire Improbable 10 look furth
er INTO this anomalous state of things, but
cannot conclude without adding that,
Tor a Government which has paid off lis
debts for two wars with The largest mar
llIme power Of Europe, and now owing a
debt which is almost next to nothing
when compared with lis boundIess re
sources, a Government the strongest in
the world, because emanating from the
popular will, and firmly rooted in the
affections oil a great and a free people,
whose fidelity to its engagements has
never been questioned; for such a Gov
ernmeut TO have rendered to the capital
lists Of other countries an opportunity for
small investments Of its stock, and vet
TO have failed, implies either the most
uniounded distrust in lis good faith, or a
purpose, 10 obtain which, The course
pursued IS the most fatal which could
have been adopted. 1t has now become
obvious TO all men hat the Government
mus: look to its own means for supply
ing its wants, and il is consoIing to
know that those means are altogether
adequate for the object. The Exchequer,
if adopted, will greatly aid in bringing
about this result. Upon what | regard as
a we'll founded superstition that lis
bills would be readily sought Tor by The
public creditors, and that the issue would
in a short time reach the maximum Of
$500 900. It Is obvious that $4,000 =
600 would thereby be added to the avail
able means Of the Treasury without cost
or charge, Nor can | fail to urge the
great and beneficial effects which would
be produced in aid Of all the active pur-
suits Of life. It's effects upon solvent
State banks, while 1t would force into
, liquidation those Of al opposite charac-
ter through its weekly settlements.
would be highly beneficial and with the
advantages Of a sound currency, the re-
> st0ratiOn of confidence and credit would
= follow, with a numerous train of bless
ings. My convictions are most strong
> that these benefits would flow from the
adoption Of this measure; but il the re-
> cult should he adverse. there is this sc,
. curly IN connection with it, that the law
! creating it may be repealed at the plea
sure Of tho Legislature, without Ih(
: slightest implication Of its good faith.
, recommend 10 Congress to take into
d consideration the pfopriety of reimburs-
ing Il fine imposed on General Jackson
9 at New Orleans az the time OF The attach
and defence of that city and paid by HIM
n Without designing any reflection on TIT
Y judicial tribunal which imposed the fine
If the remission at this day may be regard
Q ed as not unjust or inexpedient. TIT
voice Of the civil authority was hear
e amidst the glitter Of arms and obcye,
G by those who held The sword. ihereb,
giving additional Iustre 10 a memorabI
, military achievement. If the laws wer
= offended, their majesty was fully vIndl
Y Gated; and although the penalty INQUIRE
Ie and paid, is worthy of little regard in
pecuniOry point Of view, it can hardI.
!. be doubted that it would be gratifying I
20 the war worn veteran, now in retIremer
r. and in the winter of his days, to be rc
Iicved from the circumstances in wbic
that judgment placed him, There ar
% cases in which public functiOnaries ma
v be called on 10 weigh the public intere:
v against their own personal hazards, an
O. if the civil law be violated from praise
i" worthy motives, or an overriding sens
y of public danger and public necessity
,. punishment may well be restrained will
in thnt limit which osserts and main