Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-08-12

Leaving an available amount Of S970,000
The Navy Department had drawn acquisitions on the
Treasury at that time, 10 meet debts actually due;
among which bills under protest for 0OO-
thus leaving an actual deficit of S4i4 coo
There was on hand about Sl00000 OF unissued Trea-
curry notes, assisted by the accrung revenue, amount
ing to about 1000 per week, exclusive Of receipts
on UNPAID bonds 10 meet acquisitions for the army, and
the demands of the civil list.
The withdrawal OF the sum of 500 900 10 be distri
buted among the Stntes the statements and
rccounts can be made up and completed, by virtue of
the provisions of the act Of the ih September last (oi
which nearly moie'y goes TO few States and only
about 1888 900 is to be divided among all the States
while il adds materially the embarras Of the
Treasury affords 10 the States no decided relief.
No immediate relief from this state of things is anti
cpaied unless what would most deeply be depored the
Government could be reconcied to the negotiations Of
loans already authorized by law al rate of discount
runous in itself, and calculated most seriously to affect
the public credit. So great the depression of trade,
that ven if The present bill were 10 become law, and
prove be productive time wonld eapse before
sufficient supplies would flow into the Treasury; while,
in the mean time, lis enbarassments would be con,inu
al!y augmented by the semi annual distribution Of the
land proceeds
Indeed there is but too much ground 10 apprehend
that, even if this bill were permitted 10 become law
alternating Does the proceeds of the lard sales
an actual deficit in the Treasury would occur which
would more than PROBABLY involve the necessity cl
resort 10 direct taxation.
Let it be also remarked, that $500 900 of the pub
lie deb, becomes redeemabe in about Two years and q
half which, a, any sacrifice, must be met; while the
Treasury always liable 10 demands for the payment
Of outstanding Treasury notes Such the gloomy pic
ture which our financial department presents, and
which calls for the exercise of rigid economy in the
public expenditures, and the rendering available of all
the means within the control Of The Government most
respectfully submit whether this is time to give away
the proceeds of the land sales when the public lands
constitute fund which, Of all others, may be made
most useful in sustaining the public credit Can The
Government be generous and munfcen. to others,
when every dollar it command is necessary 10 sup
ply It's own wants. And if Congress would not hesi-
tate TO suffer the provisions OF the act of the 18th Sep
tember last 10 remain unrepeaed, in case the country
was involved in war, not the necessity for such
course now lust as imperative as il would be then
5. third objection remains 10 be urged, which
would be sufficient, in itself, to induce me 10 return
the bill 10 the House with my objections. By uniting
two subjects incongruous tariff and distribution,
il inc vitality makes the fate of the dependent upon
that the other future contests of party Can any.
thing be more fatal to the merchant or manufacturer
than such alla nee. What they most Of all require is
system Of moderate duties, so arranged as to with
draw the tariff question, as far as possible, com.
pletey from the Of political contention. Their
chief want is permancncy and stability. Such n in
crease Of the tariff believe 10 be necessary in order
to meet the economical expenditures of Government
Such an increase, made in the spirit of moderation
aud judicous discrimination, would, have no doubt