The Yazoo Whig and political register. (Yazoo City, Miss.) 1840-1842, 1842-09-02

Lei il be also remarked, that IS 500 900
Of the public debt becomes redeemable ~
about two years and . half, which, at any
sacrifice. must be met, while the Treasury
il. always liable to demands for.the PAYMENT
Of outstanding Treasury notes. Such Is the
gloomy picture which our financial depart
ment now presents, and which calls for the
exercise Of q rigid economy in the public
expenditures. and. the rendering available Of
all the means Withinthe control of the Gov
eminent. most respectfully submit whether
this is a time to give away the proceeds of
the land saless when the public lands con-
stitute fund which, Of all others, may be
made most useful il sustaining the public
credit. Can the Government be generous
and munificent to others when every dollar
| it can command is necessary 70 supply its
own wantsa And ii Congress would not
| hesitate 70 suffer the provisions OF the act of
4ih Of September last to.Femain unrepealed
in case the country was involved in war, Isl
not the necessity for such a course now Just
| as imperative as il would be.then2 j
8. "A third objection that remains to be
urged, would be sufficient, iii itself, to induce |
.Eme to return the bill to the House with my
j objections. By uniting two sui iects so in |
i congruous as tariff and distribution, it ineVf-I
tably makes the fate of one dependent upon |
j that of the other in future contests Of party.
or manufacturer than such an alliance!-l
What they mosi of all require is a system of
4 moderate duties, so arranged as TO withdraw
the tariff question, as far as possible, COM
! cielelv from the arena Of political contention.
\ Their chief want is permancy and stability.
Such an increase of the tariff believe TO be-
necessary in order 70 meet the economical
expenditures Of Government. Such an in-i
crease, made in the spirit of moderation and
judicious discrimination, would, have no
doubt, bs entirely satisfactory to the great
, majority of the American People. In the
, way of accomplishing q measure so salutary
and so imperatveiy demanded by every
I public interest, the Legislative Department
will meet with cordial cooperation on the
I part of the Executive. This is all that the
manufacturer can desire, and it would be a
3 burden readily borne by the People, But
cannot too earnestly repeat thatin order to be
o beneficial it must be permanent, and in order
TO be permanent il must command general
: acquiescence. But can such permanency
be justly hoped for if the tariff question be
nj coupled with that Of distribution, as to which
4 a serious conflict Of opinion exists among the
i States and the People, which enlistsin it,
IS support bare majority, il indeed there be
4 majority, of the two Houses of Congress!-
What permanency or stability can attach t
y measure which, warning upon itself gives
. away fruitful source ofTeVenue at the mo
r mont it proposes large increase Of taxes OF
: the peOpie1 l. The manufacturer prepared
70 stake himself and his Interests upon suck
g an issue4
know chat It is urged, but enormously
o in my opinion, that instability is just as ap
. to be produced by retaining the public lands
n as a source Of revenue as from any othe
cause, and this is ascribed to q conBtant fuc
tuation, as it is said, in the amount of sales
= If there were any thing in this objection i
,r equally applies to every imposition of dutiel
% on imports. The amount Of revenue annu
Al ally derived from duties lie constantly liab
% to change The regulations of foreign Gov
2 ernments, the varying productiveness O
u other countries, periods Of excitement il
~ trade, and great variety Of other cireum
ar stances are constantly arising to affect tn
a. state of commerce foreign and domestic, an
y. of consequence the revenue levied upon il
The sales of the public domain in ordinar
of times are regulated by fixed laws, whic
"a have their basis in demand Increasing onl
" in the ratio of the increase Of population: i
recurring to the statistics connected wit
this subject,i it will be pereeived that for
period of ten years preceding 1884, tn
oo average amount of land sales did not excee
Sc, 00O, 900.
For the increase which took place~in 1881
1885, and 1886, we are to look to that pecr
liaF condition of the country which gre,
out Of one of the most extraordinary excite
ments in business and speculation that hav
~. ever occurred in the history of commert
'OO and currency. 1t was the fruit of a wi
laa spirit of adventure, engendered by viciol
system Of credits, under the evils of WhiC
ul- the country is still laboring, and which it
Get fondly hoped wilinOt soon recur. Conside
Ills ing the vast amount of investments made /
ng private individuals in the public lands durir
those three years, and which equalIed $4S
In- 100000 equal to more than twenty yea
&C. purchase, iaking the average Of sales Of Il
o. ten preceding years, It may be safely assert,
In- that the result OF the public land sales G;
my hold ont nothing7to alarm the maHufsciur
with the idea of instability in the revenue
|, to and consequently in the course Of the Go
as eminent.
up Under what appears to me, therefore, Il
'oI soundest considerations Of public policy, Al
ny in view Of the interests Of every branch
1ut domestic industry return you the bill wi
.ne these ny. objections to It's becoming law.
~ Lake occasion emphatically to repeat n
- anxious desire 10 cooperate with Congre
80 In the passing of law which, while i q
~ -, sists in supplying the wants Of the Iteasu
.Id aud re- establishing public credit, shall 40
IL to.the manufacturing interests Of the cou at
mi all the incidental protection they require
sri. After all, the effect Of what do il su
I is stantialsg 70 call on Congress to reconsid
re- the subject. IE on such reconsideration
Is majority OF two-thirdsof both Houses shou
ore be il favor of this measure, it viii become
the law notwithstanding my objections In
Im- case Of clear and manifest error on the ia
nt. Of the President, The presumption Of the Co
Tie stitution e thqteuch majorities will Be foun
Should hey Be 80 foundin this case. hayii