Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1842-09-03

tional Treasury the valuable resource Of
the public domain, at moment of the
deepest embarrassment in the finances, and
the heaviest pressure upon the credit, of
the nation, which we have seen since the
close of the last war, would, in my humble
Judgment, be an act of suicidal temerity.
which nothing but the fanatacisln of party
can excuse.
ask honorable gentlemen if they are
prepared to sacrifice every thing to this
insatiable-I had almost said bloody--ido
of Distribution a tout prir, as the French
would call it. Is the necessary support of
the Government, the salutary efficiency of
the public service, in all its branches, the
sanctity of the public faith, the honor of
the country itself in the eyes of the world,
all to be sacrificed, rather than not carry
out favorite party measure. which stands
suspended by the law of its own creation,
and which cannot not now be renewed,
but in violation of the most solemn egisla.
tive covenant. l appeal to Senators, who
represent the manufacturing interests of
the country on this floor, if they are pre-
pared to accede to cenfederacy, the
fundamental condition of which is that
the proceeds of the public lands are to be
kept, at all hazards, out of the public
Treasury, and then they are to be at liberty
to impose as high duties as they please,
under color of supplying deficiency in the
Treasury thus arbitrarily and arti6cially
created! Let me most respectfully warn
them to beware. If things are left to their
natural and proper course, the interests
which they represent will be willingly. I'M
grudgingly, abundantly protected. There
never has been period, in the history of
the country, which was, in itself, so ia
vorabe to the settlement of this great and
delicate subject upon basis of sincere
good will, mutual harmony, and promised
stability. The acknowledged financial
wants of the Government, even with the
land fund, call, it is now admitted on all
hands, for large increase of duties to sup
ply the necessary revenue. All will cheer
| fully concur in any imposition of duties
necessary for revenue. so long as the
Treasury is not despoiled ofone of its legiti-
mate resources; and none will object u IA
just and proper discrimination, in the i'm
position of those duties, regarding, with an
equal eye, all the great interests of Ameri-
can industry and production. But if you
wilfully determine, at all hazards, to keep
the proceeds of the public lands out of
the National Treasury, that you may force
up preternaturally high tariff for your
peculiar advantage, you will awaken
through the length and breadth of the land,
a spirit which promises any thing rather
than stability and repose to the interests
you would thus protect.
The elements, for the permanent adjust.
ment of this great question, lie so markedly
before US, that it seems wonderful that
they are not instantly seized and combined
by every intellect. Let the land fund
come at once into the National Treasury,
as it must do if the faith of existing legis-
lation be observed, and let it be set apart
exclusively as fund for the extingush.
ment of the public debt. Let the duties
be adjusted, with view to meet the cur
rent demands of the public service alone
and not the whole aggregate charge of the
Government consisting of both debt and
current expenditure. The latter would
necessarily be the case, if the land fund
were now surrendered to the States; and
the consequence would be, that as soon as
the debt was discharged, reduction of
duties would be called for, exposing the
interests which may have grown up under
them, to all the evils of vacillating and
unstable legislation. On the other hand.
the land fund, being exclusively devoted
to the extinguishment of the public debt,
might, when it had performed that office,
be properly made the subject of "reparti-
ton among the States" according to the
suggestion of Mr.. Jefferson; and thus the
system of imposts, involving so vitality
the interests of private industry and the
employment and distribution of the ma
tional capital, would be kept stable and
uniform in its operation.
AS last resort in argument, we are
sometimes told that the States are heavily
indebted, and that they must have the land
money to pay their debts. But the States
have their own domestic administrations
to take care Of their interests, and to pro-
vide for their necessities. They are CON-
petent to do so; and will, firmly believe,
trlumphantly sustain their credit and the
honor of the American name. They will
follow the example of noble Pennsylvania,
the most embarrassed of them all, and in
stead of vainI y praying to Hercules to de-
liver them, they will manfully put their
own shoulders to the wheel. What au-
thority have we to pay the debts of the
States, even if we had the means? Have
our constituents, or the Constitution of
the country, given us any warrant to do
so! The indebted States themselves are
too proud and too just 70 ask it. The
highest and most honorable service we
can render them IL 10 abstain from nress