Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1842-03-29
From the GLOBE, Alrch II.
PERMANENT DEBT AND HIGH TARIFF


The message Of Mr. Tyler and the report of Mr.
Forward have produced their iruit-a bill from the
Committee OF Ways and Means in the House % Re-
representatives. II save the Treasury from the two
forthcoming deficits aad It's present state OF snspen-
sion. deficit of three miilio IN the present
quarter anu i've millions iH the first quarter Il the
next year. were announced IN the | Feasurer's re-
port. and the suspension Of the Government was an
noumced IN all the New ork papers and for these
evils and dlsgraces no open or manly remedy was
proposed by the Pres deut his Secretqrv but they
have communicated with the committee OF WAYS
and Means and the remedy makes It's first appear
ance from that quarter. And what is X \ bal
70 sell Government stock, the phrase Is, at what
It Will bring, and TO make Treasury notes continue
to bear interest after the year tor winch they
we're issued. The English of this l., that the Gov
eminent IS 70 borrow money by paying enc hundred
dollars hereafter for les than one hundred dollars
received now and that Treasury notes. instead ot
being redeemed when due. are to be unreaeemed
bearing interest Tor an indefinite length al tine
thus creating national debt. by fraud i.r tie Co
vernmeBt. Ike spenGih lift. j. 10 be shaved rs
own loans IN market, and, he an lnsoivent, IL 10
let rs notes he IN the hands OF creditors. drawing
interest. THIS j. permanent debt and fraudulent
debt, and precisely the way the British Debt was
created. a. shown by Colonel Benton. IN his speech
the cabin. exchequer. la that speech the poii-
cy of the Administration was distinctly revealed
and shown to be what TINS new bill is-disgu sed-
fraudulent, permanent national debt through the
fundamentally OF loans and Exchequer blls--the
loans To be according to the British plan OF giving
stock for hundred, when receiving less than that
sum, aud the Treasury notes to become permanent
bearing annual interest indefinitely. We now
at that point and the doomed men az the head OF
the Government refuse 10 take the only common
sense and honorable course, that Of recalling the
land revenue and restoring hard money payments
TO the Federal Treasury. These common sense
remedies IRE rejected by the men IN power: and
why Because they mean To have two things. a
hlrh tariff and national debt for the foundation ol
a National Treasury Bank. For these reasons
three parties work together, The High Tariff party
the National Bank party, and the Exchequer iank
party. These three work together. and - these
the throwing away OF the land revenue /, lndls-
pensabic step :heir policy. And now, what says
the country to the abused Administrations OF Gen
eral Jackson and Sir. an Buren, Were Treasury
notes protested IN their time p. Was their issue
made permanent Were fraudulent loans recon
mended Was the Government in state OF
pension Were Government notes offered IN vain oT
bank notes Did banks hold themselves superior L.
suspended Treasury. and refuse 10 exchange paper
dollar Tor dollar Did banks refuse their notes
bearing no interest, for Government notes bearing
interest Dad any of these disgraces happen IN
Nh. Noodbury's Tine even when The banks shu, up
with all the government money in their vaults
Did these things happen then! Ma. no. The
Government had no such disgrace in their time-no
suo!, Disgrace rs that which the new bill IN the
House OF Representative, brings upon the country
The same b. purposes 10 pledge the custom house
duties tor these fraudulent loans and permanent
Treasury notes and here the cloven foot is seen
II gh tariff that foot and this bill i t. Ink debt
aud tariff together, WHY not pledge the lands
That would spoil the game of debt and tariff but
the Democracy Will do their best. They " i'll try
to substitute tire lands for the customs.