Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1842-04-08

rmost vigilant money dealer will readily
perceive that not only will his interest
be secure on such pledge. but that a
debt Of $l8,000,000 or $2O,OO0,OOO
would, by the surplus of sales over and
above the payment of the interest, be
exlDguished within any reasonable time
fixed for its resumption. To relieve
the Treasury from its embarrassments,
and to aid in meeting its requlsIIlons un.
( til time is allowed for any new tariff OF
duties TO become available, 1t would
seem 10 be necessary to fund debt ap-
proaching to SIS,000,0O0; and, in order
10 place the negotiation OF the loan
beyond reasonable doubt, submit 10
Congress whether the proceeds of The
sales 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 surplus Of the pro-
ceeds OF such sales, 10 purchase the
stock, when it can be procured on such
terms as will render it beneficial in that
way 10 exrnguish the debt and prevent
the accumulation OF such surplus while
its distribution is suspended.
No one car doubt that were the Fed
eral Treasury now as prosperous as it
was ten years ago, and its fiscal opera
tions conducted by an efficient agency of
its own, CO extensive with the Union,
the embarrassment Of the States, and
corporations in ;bem, would produce,
even if they continued as they are,
(were that possibIe,) effects far less dis
astrous than those now experienced
1t 10 the disorder here, at the heart and
centre Of the system, that paiaIyzes and
deranges every part of it, Who does
not know The permanent importance, not
TO the Federal Government alone, but
TO every Stale and every individua
within its Jurisdiction, even in their
most independent and isolated individual
pursuits, in the preservation of sound
state Of public opinion and judcious
administration here3 The sympathy
is instantaneous and universal. TO al
tempt to remedy the evil Of the derang-
ed credit and currency Of the States
while the disease is allowed to rage in
The vtals Of this Government would be
hopeless Undertaking.
1t is the lull conviction Of this truth
which emboIdens me most earnestly to
recommend TO your early and serious
consideration the measure now submit
ted to your better Judgment, as we'll as
those to which your attention has been
already invited, The first great want
ofthe country, that without answering
which all attempts at bettering the pre-
senI condition OF things will prove fruit
less, is complete restoration oflhe ere
dit and finances Of the Federal Govern
mpnt The source ard foundation oil
all credit is in tho confidence which the
Cove rnment inspires; and just 10 pro-
portion as that confidence shall be sha
kon or diminished, wi|i 6e the dislrust
among all classes Of the community,
and the arrangement and demora Ii2Rtion |
in every branch of business and all The |
interests of the country. Keep up tho
standard Of good faith and punctuaIity
in tho operations of the General Gov
ernment, ard all partial irreguari.
ties and disorders will bo rectifed by
the influence Of its example; but suffer
that standard to be debased or disturbed,
and it is impossible TO foresee to what a
degree Of degradation and confusion all
financial interests, public and private,
may sink. In such a country as this,
the Representatives Of the People have
only to will it, and the public credit will
be as high as it ever was.
My own views Of the measures calcu.
lated to effect this great and desirable
object have thus frankly expressed to
Congress, under circumstances which
give to tho entire subject peculiar and
solemn interest. The Executive can do
no more, If the credit of the country
DO exposed to question:; if the public
defences be broken down or weakened;
il the whole administration of public af.
fairs be embarrassed for want of the
necessary means for conducting them
with vigor and effect, trust that this
department Of the Government will be
found to have done all that was in its
power to avert such evils, and will be
acquitted Of ali just blame on account Of
Them.
JOHN TYLER,
Washington, March 25, lS42, |