Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1842-04-16

10 casual or transient evil II is on the
one which must, for some years
10 come, notwithstanding a resort to all
reasonable retrenchments, and the con-
slant progress of the country in popula-
ton and productive power, continue to
increase under existing laws, unless wei
consent to give up or impair all our defen-
ces in war and peace. But this is a thought
which / am persuaded no patriotic mind
would, for a moment, entertain. Without
affecting an alarm, which do not feel, in
regard to our foreign relations, it may
safely be affirmed, that they are in a state
too critical and involve too many moment
Gus issues to permit us to neglect in the
least, much less to abandon entirely, those
means of asserting our rights, without
which negotiations is without dignity,
and peace without security.
In the Report of the Secretary of the
Treasury, submitted to Congress at the
commencement of the present session, it is
estimated that after exhaustng all the
probable resources of the year, there will
remain a deficit of about $14,000,000.
With a view partly to permanent sys-
tenn of revenue, and partly to immediate
relief from actual embarrassment, that
officer recommended, together with plan
for establishing Government ExcheGuer,
some expedients Of more temporary
character, viz: the issuing of Treasury
notes, and the extension of the time for
which the loan, authorized to be negotiated
by the act Of the last session should be
taken. Congress accordingly provided for
an issue of Treasury notes to the amount
of 100000, 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
introduced until recently into the House
of Representatives. Should the Loan bill
now pending before that body pass into a
law for its present amount, there would
still! remain deficit of S2,500,000. 1t re-
qures no argument to show that such
condition of the Treasury is incompatible
no, only with high state of public credit,
but with any thing approaching to eff
cheney in the conduct of public affairs. 1t
must be obvious, even to the most inexperl-
enced minds, that, to say nothing of any
particular exigency, actual or imminent,
there should be at all times in the Treasury
of great nation. with a view to contin-
gencics of ordinary occurrence, a surplus
at least equal in amount to the deficiency.
But that deficiency. serious as it would be
in itself, will, | am compelled to say, rather
be incLeased than diminished, without the
adoption of measures adequate to correct
the evil ut once. The stagnation of trade
and business, in some degree, incident to
the arrangement of the national finances
and the state Of the revenue laws, holds
out but little in prospect of relief. in the
ordinary course of things, for some time
to come.
Under such circumstances, | am deeply
impressed with the necessity of meeting
the crisis with vigor and decision which
it imperatively demands at the hands of all
entrusted with the conduct of public af-
fairs. The gravity of the evil calls for
remedy proportional to it. No slight pal
latives, or occasional cxpedicnts, will give
the country the relief it needs. Such
measures, on the contrary, will, in the end,
as is now manifest to all, too surely multi
ply its embarrassments. Relying, as am
bound TO do, on the Representatives of a
People rendered illustrious among nations,
by having paid off its whole public debt,
| shall not shrink from the responsibility
imposed upon me by the Constitution, of
pointing out such measures as will, in my
opinion, ensure adequate relief am the
more encouraged to recommend the course
which necessity exacts, by the confidence
which have in its complete success. The
resources of the country, in every thing
that constitutes the wealth and strength
% oot;ape ohup Iopt tho crH;r;t or
most Industrious, enterprising, and intelli-
gent People, is SO energetic and elastic,
that the Government will be without the
shadow of excuse for its delinquency, if
the difficulties which now perplex and en-
barrass il, be not speedily and effcctually
removed.
From present indications, it is hardly
doubtful that Congress will find it necessary
to lay additional duties on imports in order
to meet the ordinary current expenses of
the Government. In the exercise of
sound discrimination, having reference to
revenue, but at the same time necessarily
atIording incidental protection to manufac-
turing industry, it seems equally probable
that duties on some articles of importa-
ton will have to be advanced above 30
per cent. In performing this important
work of revising the tariff of duties, which.
in the present emergency, would seem to
be indispensable, cannot too strongly re-
commend the cultivation of a spirit of
mutual harmony and concession to which
the Government itself owes its origin and
without the continued exercise of which
Earring and discord would universally pre-.
vail.
An additional reason for the increase of