Sentinel of the valley. [volume] (Woodstock, Va) 1841-1848, 1842-08-18

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mems Of the Ereasurys affords 10 thel
States no DECIDED relief.
no immediate relief from this state Of
things is anticipated. unless what would
most deeply be-deplored, the government
roatd be 1econclled 20 the negotiation Oh
leafs already authorized by law. at "A
rate oi discount ruinous in Itself, and
calculated most seriously to affect the
Pubilc credit. So great is the depression
"a trade, that even fine pre-: ent bill were
TO become k-w, ana proved to De pro-
tuctive, some tine would eiapse before
Sufficient supplies would flow INTO the
Treasury, wilhelm the meantime. ITS EN-
bagrasuients would be continually aug
men;ed by the seinl-annnal Distribution
Of tie land proceeds. !
Indeed, there is Onf TOO much Sroun"
10 a,preheud that eVIh II this BAL were
permitted to Eecome 4 law, alternating as
itdoes the proceeds lol Tie land sales, an
aeinal deficit in the Treasury woald oc !
cur. which vouly more than probably H.
yoiye the uec45.ity Of d resort 10 direct
taxailoa--<
s1et il be also remarked, that $780,
= Geo q the public debt beco'nes tsdeem-
able in about two years ahd Eaii, which,
al any sacrifice, must he met. white the
Treasury is always liable 10 demands tof
the payment Of outstading Treasury notes.
Such IS the gloomy plctU1e whlch our IN
t,neai Department now presents, ana
which calls for the exercise OF rl.sd e.
economy in the public expeditures, and
the rendering available Of ali the means
within the control 81 The Government.
most respectfully submit, whether dhls is
a tine to give away the proceeds OF the
land sales, when the public Lands constl-
tute a fund which, OF all others. may be
made most useful in sustaining tie public
credit. Can the Government be gener
Gus and muniicent to Others when every
dollar it can command is necessary to
supply its own wants? And If Congress
would not hesitate to suffer the provl-
sionS Of the act Of 4gh September last to
remain unrcpeated in case the country
was involved in war, is not the necessity
fur such course now Just as imperative
as it would be then?
s. third objection remains to be
urged, which would be Sufficient, in itself,
TO lduce NE to return the bill to the
House with my objections. by uniting
,svu subject SO homogeneous as Tariff and
Distribution, ii inevitably makes the fate
of the enc dependent up0n that vi the o.
,her ia future contests Of party. Can a.
ny thI0g be more fatal to tie merchant or
manufacturer than such an alliance!
What they most Of al require is a 81 stem
OF moderate duties. So arranged as TO
withdraw the Tariff question, lis far as
possible, completely from the arena OF
political contention. Their chief want
is permanently and stability. Such an in
crease OF the Tariff, believe to be neces-
sary, III order to meet the economical eX-
peudltares Of government. Such an IN
crease, made in the spirit OF moderation
and iad!NiUus discrimination, would, |
have no doubt, be entirely satisfactory
10 the great majority OF the American
People, In The way Of accomplishing "a
measure 50 SANITARY and 50 inperatIvely
demanded by every public interest, the
Legislative Department will meet with a
cordial cooperation on the part Ct the
Executive This is all the manufacture
q can desire, ard it-w0uld be burden
readily borne BY the people. But | can
not too earnestly repeat, that III order to
be beneficial it must be permanent, and
~ otder 70 be permanent, it must COM
inaDd general acquiesceuce. But can
such permanency lie justly hoped for II
the Tarif' question be coupled with that
Of Distribution, as to which a serious con,
tilct Of opinion exists among the States
and the people, which enlists in its sup
port bare majority. if indeed there be a
majority. Of tue two Houses Of Congress
NYhat permaneucy OF stability can attach
10 measure which, warning upon itself,
gives away a fruitful source Of revenue
at the moaient it proposes large increase
Of taxes on the people !! Is the nlanutac-
turer prepared to stake himself and lis
interests upon such an issue?
know that it is urged, but most or
reEeously, in my opinion, that instablli-
ty is just us apt TO be produced By re-
tainins pubic lands as source Of reye
hue, as from any ether cause, and this Is
ascrihed to q constant fluctuation, as it i.
said, in tie amt Of sales. If the9 were
any thing liz this objection il equally ap
plies to every imposition OF duties OIL ian
potts. The amount ofrcyeEue annually
derived from duties is constantly liable
u change. The regulations Of foreign
governments, the varying 2roductiyenes.
of other countries, periods of excitement
in trade, and great variety Of other cir
cumstances are constantly arising to al
feet the state OF commerce lorseign ant
a
nue. levied upon title sales Of tht
public domain in ordinary times are regu
lated by fixed laws, which have their bas
is in demand increasing only III thu
ratio of the increase Of population. II
recurring to statistics connected witt
this subject, it @ill be perceived that 10
a period Of ten years preceding 1854, tn
ayeraoe amount of land sales did not ex