The Middlebury people's press. [volume] (Middlebury, Vt.) 1841-1843, 1842-08-30

n MIR. Tyler had led to the modification of m
IS first bill for the establishment of a Nation,
IS Bank, presented to him for his approya
e widely differing from the opinions entertain
ed of their expediency by the majority G
: both Houses Of Congress, but which faile,
s to obtain that approval for the sake of whic
they had been reluctantly adopted. A sec
ond attempt ensued, under sense of The
indispensable necessity of fiscal corpora
ton 10 the revenues and credit OF the nation
10 prepare an act, TO which an informal in
tcrcourse and communication between
member of the House charged with the du
ty of preparing The bill. and the Presiden
of the United States himself might secur,
BY compliance with his opinions a pledg,
in advance of his approval of the bill, wher
1t should be presented TO him. That pledg,
was obtained. The bill was presented 10
him in the very terms which he had prescr
bed as necessary to obtain his sanction, anc
1t met the same fate with its predecessor
and il is remarkable that the reasons as.
signed for the refusal TO approve the second
bill are in direct and immediate conflict
with those which had been assigned for the
refusal 10 sign the hrSt.
Thus the measure, first among those
deemed by the Legislature of the Union in.
dispenslbly necessary for the salvation Of
lis highest interests, and for the restoration
oil It's credit, Its honor, its prosperity, was
Frustrated, defeated, annulled, by the weak
and wagering obstInacy of one man, acci.
dentalIy, and not by The will ofthe People,
invested with that terrible power, as if pro-
phetitcally described by one Of his own cho.
sen ministers, at this day, az sthe right TO
deprive the People of self government
The first consequence of this Executive
Legislation was not only 10 PROSTATE the eff.
iorts OF the Legislature itself, to relieve the
People from their distress. 10 replenish the
exhausted Treasury, and call forth the re.
sources OF The country, TO redeem the pub
lie faith to The fulflmen, of the national en-.
gagements. but TO leave all the burdens and
embarrassments of the public Treasury,
brought upon it by the improvidence of the
preceding Administration. bearing upon the
People with aggravated pressure. The ia.
;al error OF the preceding Administration
had been an excess of expenditure beyond
It's income. That excess had been an n.
verage of eight millions of dollars year, at
least, during the four years of its existence.
The practical system of its fiscal operations
had been a continued increase of expendi
'ureS and dIminuiion of revenues, and il left
as bequest TO its successors no effective
reduction OF expenses, but double reduction
of revenue 10 the amount of millions, to oc.
cur, of course, by the mere lapse Of time,
unless averted, within fifteen months, BY
subsequent legislation.
BY the double exercise of the Preslden.
tial inierdict upon the two bills for estab-
fishing National Bank this Legislation was
prevented. The excess of expenditures
beyond the revenue continued and increas
ed. The double reduction of revenue, pre-
scribed by the compromise of 1888, was
suffered TO take its full effect-po reduction
of the expenditures had been prescribed;
and, in the course Of eighteen months,since |
the inauguration Of President Harrison, an |
addition of at least fifteen millions 10 the e. |
normous deficit already existing in the Trea-
sury al the close of the last Administration,
is now charged upon the prevailing party
in Congress, by those who made it the law,
while The exercise of the veto power alone
disabled the Legislature tselffrom the pow.
er Of applying the only remedy which il was
within the competency oflegislation ilsefto
provide,
The great purpose fo- which the special
session of Congress had been called was
thus defeated by the exercise Of the veto
power. AT the meeting of Congress, at the
regular annual session, the maorities of
both Houses, not yielding to the discourage
nent of disappointed hopes and baffied en-
srgies, Undertook the task of raising by i'm.
post duties revenue adequate to the neces-
sites of the Treasury, and TO the fulfilment
If the National obligations.
By the assiduous and unremiiting labors
IF the committees of both Houses charged
With the duties of providing for the necessi-
les of the revenue, and for the great manu-.
acturing interests ofthe Northern, Central,
md Western States, which must be so deen-
y affected by any adjustment, of a tariff. 10
'aise exclusively revenue adequate TO the
necessary expenses ofihe Government from
iutes on imports, tariff bill believed 10 be |
nearly if not wholly, sufficient for that pur- {
rose, was elaborated and amply discussed
Trough long series ofweeks in both bran- {
hes of the Legislature. The process of
CESSATION through which alone such CON- {
'iicated system could be organized. neces- t
arily consumed many months of time; nor '
we're the committees or the House exempt S
d from severe reproach,- which the purcha-
ed presses of the Executive chief are even
et casting upon Congress, without reouke c
II restraint from him. The delays were t
'ccasioned BY The patient and unweried in c
estigation ofthe whole subject by the ap. +
riate committees. d
As tie period approached when the so S
allied compromise tariff was to be consuma. f
I'd, leaving the Government without any q
evenue tariff sanctioned by the law, the a
rudence of Congress, without precipitating h
leir decision upon the permanent system d
hich they fondly hoped 10 establish, provi. t
ed and sent to the President temporary "
xpedient. limited in its operation to the u
,ace of one month. durinu which IN avoid i