The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-07-28

Two meusuTcS, cHicltdtucu no Doubt bur
that the loan would be eagerly taken nm
by capitalists, and speedily Reimbursed Lv
a country, destined as they hoped, soon 10
enjoy an overlooking prosperity. 'rheyc.
nv terms of the loan making il redeemabe
in three years, demonstrate this beyond
all cayil. What at hat lime ioYesaw or
imagined the possibility Of the actual state
of things, when nation that has paid or
her whole debt since the last peace, while
all the other great powers have been in.
creasing theirs, and whose resources. al.
ready so great, are yet but in the infancy
of their development, should be compelled
to haggle in the money market for pal,rv
sum not equal TO one years revenue on
her economical system Ii the distribu.
ton law is TO be indefinitely suspended.
according not oDy TO its own terms bu, Iy
universal consent in case of war, wherein
are the actual exigencies of the country or
the moral obligation TO provide for them
less under present circumstances, than
they could be were we actually involved
in war; II appears 10 me TO be the in.
dispensable duty Of all concerned in tho
administration Of public affairs, to see that
state of things so bumiliating and so
perilous should not last a moment longer
than is absolutely unavoidable--muc less
excusable should we be in parting with
any portion of our unavailable means, a,
least, until the demands Of the treasury
were fully multiplied But besides the ca.
crsy Of such considerations, the fact is IN.
deniable, that the Distribution Act could
not have become a law without The guaran.
tee in the proIiso Of the act itself.
This connection, thus meant TO DO 10.
separate, is severed by the bill presented
to me. The bill violates the principle Of
the acts ef $50, and September, 1871, Ly
suspending the first, and rendering fr
time, the last imperative. DulicS above
twenty per cent. are proposed TO be levied.
and yet the proriso IN the Distribution
Act is disregardcd The proceeds Of the
sales are to be distributed on the first Of
AuguSt--so that whilst the duties proposed
10 he enacted exceed twenty per cent. no
suspension Of the distribution 10 the states
is permitted 10 take place. To abandon
Che principle for a month, opens the way
o It's total abandonment. Ii such Is o.,
meant, why postpone Of all-why not lc,
the distribution take place on the first of
July, il the law so directs, which, howeY.
er, is regarded as questionable but why No,
have limited the provision to that efec,
Is II for the accommodation of the Urea.
sury see no reason to believe that
the Treasury will be in better condliioa
to meet the paymcn, on the frs, Of August,
than on the first OF July. The bill IS.
sumes that distribution Of the proceed.
OF the public lands is, BY existing laws, 70
30 made on the first day Of july. 1872,
notwithstanding there has been an mpo,.
ton Of duties on lmposts exceeding lwen.
y per cent up to That day, and directs il
10 be made on the first Of August next. /.
sccu1 to me very clear, that this canslrc.
70. IS equally erroneous and dangerous, ss
II would divert from the Treasury faaJ
sacredly pledged for the general purposes
Of tue G0scrnmenr, 10 the event Of rate
Of duty aboto twcaly per cent, being found
necessary for 90 economical udminisia.
ton Of the Government.
The bill under consideration is designed
only as temporary measure, passed mere.
ly for the convenience OF Congress IS
made TO affect the vital principles d 40
important net. II tho proviso Of the "a,
OF September, tel, can be suspended icf
the whole period Of temporary au, Why
not for the whole period OF permanent
ia~ In fact, doubt nay BE- we'll crier.
TONED, according 10 strict legal rules,
whether the condition, having been thus
expressly suspended by this bill, and REQ.
dered lnappIicabIc 10 case where j, would
oihcr@ls have clearly applied, will noi b
considered as ever after satisfied and gone.
Without expressing any decided opinion on
tbs point, soc enough in il 10 Justify mo
N adhering to the la~ as il stands, 10 Pre-.
terence TO subIecling a condition so yI,sily
affecting the peace Of tho country, and 81
emnly enacted al momenious crisis, ana
50 stcadlasty adhered to ever since, ard
80 rcpIete, ifadhercd TO, with good 'oc'c
~ interest Of the country, to doubtful aud
captious Interpretation.
In dlscharging the high duties thus I'M
posed 90 me BY tho Constitution, | repeat
TO the House my entire Willingness 10 CO.
operate IN all financial measures, eonslin.
tIonal and proper, which in its wisdom i
may Judge necessary and proper TO re'es.
tabIsh the credit of the Government. |
believe that tho proceeds Of the public
lands being restored to tho treasury-c',
more properly speaking, the proviso Of Tie
act OF September, lSll, being permitted
TO rcmaln in fall force--a tariff of duties
may easily be adjusted, which, while II val
yield revenue sufficient to maialan thu
Government IN vgor, by restoring is cred
4, viii afford ample protection, aud lnidse
new hope into cur manufacturing estaI'
iishmeuts. The condition of the country
calls for such legislation, and it will afford
me the most sincere pleasure TO cooperate
in il.
JOHN TYLER
Washington, June 20, lsia.
The Cost ofa Single Rlo,c.--Mr Tue
Campbell, Of Baltimore. was tired on Woo