Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1842-04-19
MESSAGE FROM THE PRESIDENT.
TO the Senate and House Of Representatives. Of tn
limited Sfofes

o INC c6Idt6 ana House or heDTGSentGttC6S or INC
United States.
Notwithstanding the urgency with which
| have on more than one occasion felt ii
my duty TO press upon Congress the ne
cessity Of providing the Government with
the means Of discharging its debts and
maintaining inviolate the public faith, the
Increasing embarrassments Of the Treasu-
~ impose upon me the indispensable OBJ
LEGATION of again inviting your attention to
The condition Of the finances. Fortunately
for myself, in thus bringing this important
subject to your view, for a deliberate and
comprehensive examination in all It's bear
ings and trust may add, for final ad-
Justment Of il, to the common advantage Of
the whole Union, | am permitted to ap-
proach it with perfect freedom and candor
AS few of the burdens for which provision
is now required to be made have been bro't
upon the country during my short admin
istration Of its affairs, | have neither mo-
tive nor wish 10 make them matter Of
elimination against any Of my predeCes-
sors. am disposed 10 regard, as | am
bound TO treat them, as facts, which can
not now be undone, and as deeply interes-
sing to us all, and equally imposing upon
all the most solemn duties; and the only
use would make of the errors Of the past
is, by careful examination of their cauS-
cs and character, to avoid if possible the
repetition OF them in future.
The condition Of the country, indeed, is
such as may well arrest the conflict Of par
ties. The conviction seems at length to
have made its way TO the minds of all, that
the dsproportion between the public res
Ponsibltites and the means provided for
meeting them, is no casual nor transient
evil. 1t is, OFT the contrary, one which,
for some years TO come, Notwithstanding
n resort TO all reasonable rctrenchments,
and the constant progress Of the country
an population and productive power, must
continue to increase under existing laws,
unless we consent 10 G i've up or impair all
our defences in war and IN peace. But
this is a thought which, | am persuaded,
no patriotic mind would for a moment en-
terrain. Without affecting an alarm which
do not feel in regard to our foreign rela-
lions, it may safely be affirmed that they
are in state toe critical and involve too
many momenious issues to permit us to
neglect ia the least, much less to abandon
entirely, those means of asserting our
rights without which negotiation.is without
dignity and peace without security.
In the report Of the Secretary Of the
Treasury, Submitted TO Congress at the
commence ent Of the present session, it is
estimated that, after exhausting all the pro-
bsble resources Of the year, there will re-
main a deficit Of $l4, 000 900. With a
view partly 10 permanent system of re-
venue, and partly to immediate relief from
actual embarrassment, that officer recon-
mended, together with Il plan for establish
ing a Government EXchequer, some eXpe-
dents Of a most temporary character, viz:
the issueing Of Treasury notes, and the eX-
tension Of the time for which the loan au-
thorized TO be negotiated by the act Of the
last session should be taken. Congress ac-
cordingly provided for an issue Of Treasu-
nv notes to the amount Of S5,00000 but
subject to the condition that they should
not be paid away below par.
No measure connected with the last Of
the two objects above mentioned was intro
duced until recently into the House of Re-
representatives. Should the loan bill now
pending before that body pass into law,
for its present amount, there would still re-
main a deficit Of So 800, 900. 1t requires
no argument to show that such a condition
OF the Treasury is incompatible not only
with a high state Of public credit, but with
any thing approaching TO efficiency in the
conduct Of public affairs. 1t must be OBJ
vous, even TO the most inexperienced
minds, that. TO say nothing Of any partlcu-
lar exigencv, actual or imminent, there
should be at all times, in the Treasury OF
a great nation, with view TO contingent
cies of ordinary occurrence, surplus al
least equal in amount TO the above DEN
cheney. But that deficiency, serious as 1t
would be in itself, will, | am compelled to
saw, rather be increased than diminished,
without the adoption Of measures adequate
TO correct the evil at once. The stagna-
tor of trade and business, in some degree
incident to the arrangement Of the nation
al finances, and the state of the revenue
laws, hold out but little prospect OF relief
in the ordinary course Of things for some
time 10 come.
Under such circumstances, am deeply
impressed with the necessity OF meeting
the crisis with vi gor and decision which
it imperativeIy demands at the hands OF all
entrusted with the conduct Of public affairs.
The gravity Of the evil calls for remedy
proportoned 10 it, No slight palliatlves or
occasional expedents will give the coun-
try the relief it needs Such measures, on
the contrary, will, in the end, as is now
manifest to all, too surely multiply its en-