Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-08-11

s-nt exgencles. ami TO lay the fonndsi;oo r..
successful negoiiato Of loan, felt ineunbs,,
upon me 10 urge upon Congress to raise In, dn,..s
accordingly, imposing them in spiri, of , -;
uscfminaii IN, fr the two fold object Of sffordne
| 1mpe revenue Dr the Gjvsrnmen'. and re-
uenIa, protection TO the various branches OF dcmes-
ue INDUSTRY l also pressed. in the most emphatic
Out respectful language could omuiov IN. n.r.s
sV OF mixing the land sales avail able 10 the Tea
| sh'y as the basis Of public credit did no. tbi,L
sh' could stand excused, much less justified. be.
Iole me feope Of the Ua.ied States nor could re.
Soneie u 10 myself TO recommend the i'm postion of
aouA'0hai taxes upon them, without at the sam,
H"r, ursi1s the employment, Of ali the l,si,i-
Insee means OF the Government towards sa.
.y.aS ~ vans: These opinions were com.
Muhcitsa IN advance of any deinitive &C
Ton OF congress on the subjec. either of the tariff
o' 'shu soies, under high sense of public drtv
enu IN eornpanee with express Injunction az he
dsn,.ss,.I 80 ihaI ~ collision, extremely to be
u'P'eeiVeu as such collisions always are has SEEM
! n'sy arisen between the Executive and ssi,l,,iye
o'uhehes OF the Government, il has assutedlv no.
oeen oslnS TO any cspricous reference or TO any
IT, ~. : pam anu frank declaration of opinion on
1ne PoTi OF the former. Congress differed in lis
se|s wan those of the Executive as il had un-
G'uo'ediy right 10 do Ind passed bill virtually
10, 'ima repeating the provso of the act OF lie
ia =, P'eniosf, ISL. The bill was returned to
the HouSe IN which i; originated with nv obiAc-
IONS 70 It's becoming a law With a view 70 ore.
vent II possible, an open disagreement Of opinion
On point 50 important, took occasion 10 declare
! ,"aA teSafurO as an lndtsDensable prsreousite
70 an nerease OF duties above 20 per cent that the
az oil the fih Sspen.bsr should remain unrep, nj d
III us pfoVisonS Ny reasons for TINT onipion
"eIe eeooraiey set forth in the message which &c
| eompanled the return OF The bill-vhich no Cons i
'uuonal minority appears TO have been found for
/ passing into law "
Inc OIL which is now before me proposes, in il,
z|tn section, the total repeal CT one OF the pro SOS
", .he sGt o. September and while il increases the
duties soove 20 per cent. direct. an unconditiona
distribution OF the land proceeds I am therefore
subjected second time, in the period Of few dayf
70 the necessity of eI;her giving my approval to
measure which, in my deliberate judgment, is in
eohnlet With great public interests or of returnins
u 10 The House IN which il originated with NV OIL
lsehons. WIKI all my anxiety for the passage of a
Jaw which would replensh an exhausted Treasury.
ehd 'urnish sound and healthy announcement 10
mechanical industry, cannot consent TO do 90 a,
the sacrifice of the pclce ard harmony az IN. c1un.
NY, and the elearest convictions CT public duty
fof some OF the TeAsons which have brought me
10 ms CONCLUSION, | refer MP previous me lses
10 congress, and briefly suboin the following =
!. Tho bill unies two subjects. which. so far
isom having any Afiaily to one another are wsoi!y
iacon.ruous IN their character. IL is both reyenu,
ana an appropriation bill II thus imposes on the
Executive IN the first place the necesstv NJ ei,be,
approving that which he would reject, or reiar,ine
that which he might otherwise approve. This is 4
speeles oil CONSTANT 10 which the Judgment OF IN,
Executive ought not, 10 my opinion TO be subjected
out mat Is not my only lection the act in IL
=
similar IN their character in the same Gi if Il crew
INTO practice, would fail to lead 10 CONSEQUENCE.
destructive OF all wise and conscientious lee
various measures, each agreeable only to a small
minority, might, by being thus united, and the
more the greater chance Of success lead 10 the
sing OF laws, OF which no single provision could
SAhutng alone, command a joEty in its favour
W hhe tne treasury IS in state OF extreme
embarrassment requiring every dollar which IL cal
u MAKE available, and when the Government, has no
t. only 10 Jay additional taxes, but 70 borrow mona,
20 me-' pressing demands, the bill proposes TO civ
away fruitful source OF rsvenuc-which is III,
same lh'hS as raising money by lean and taxation
-nct to meet the wants Of the Government. bu
Tor dIsulo luton, proceeding whi7h mus, resarC
as h'shly impolite If not unconstitutional.
A brief review OF the present cond,ion Of the pubu
Treasury ani exhibit On lie 5,b
SSg sss.saSv 70 r. s5,l;Sco
Interest on public debt due in October, 500
= iGrsleem Treasury notes and pay the
L1 ~. ssiIib ION, under the act OF tie
ith September, lsIl 6thOoO
} - sl,ls9oOC
LEARN; an available amount Of sq-o On
Inc Navy Department had drawn requisition.
on the Treasury a, that time, to meet debts actu.
sl4I4 OOo thus leaving an as nRder protest for
OO0 1890 - . . &;
There was on hand about 500 900 of unissu4d
, IreS sury notes, assisted by the accruns revenue
, amounting TO about si5oOOo per week, exclusive
oil receipts on unpaid bonds 10 meet reou; ions To-
. the Army, and the demands OF the civil list
The withdrawal OF the sum OF S64O 600 10 be dis.
inbu,ed among the States, so soon as the statement
and accounts can be made up and C mpl I'd, by
virtue OF the provisions Of the act OF IT, s,b
teuber last, Of which nearly no.eiy eots 20 fen
States and only about S3s3 goo j. 10 be DIVIDE
among oil the States while Il adds materially 10 In
embauassments OF the Treasury, affords 10 IN,
States no decided relief
No imntc liate re1frff ~ -. ID.
paied, unless, what would most deeply be Jsnlorr5
the Government could lie recOnc.led 10 the negot n
ton OF loans already authorized by Inv. n r,u
OF discount tui1ous IN Itself. and cilcll1ted mo
seriously 10 Affect tie public credit So great IS In
depression Of irlde that even If the nrsssnt 49,
were TO become law, and prove o he DO ductivc
. some line would cilpse beflTe sufficient supplie
woa'd how into the Treasury, VIII 10, in the mean
time, MS emuaIr1smenis would be continuity aus,
menied by the semi annual Distribution Of the lanC
proceeds.
= Indeed, there is bu, too much ground 10 arn.s
e h-nd that even II this bill permitted to be-
iaw' alenaung as does the proceeds Of the ant
sales, an actual dehcit IN the Treasury would occur
which would more than probably involve the ne
cessliy Of resort 10 direct taxation.
Let u be also remarked, that So SOC, 600 Of N
pu6ic debt becomes rcdcemable IN about two yea;
9 and hall, which, at any sacfifcr must b, me,
!. While the Treasury is always liable to demand
c Tor the payment OF outstanding Treasury note.
, such IS the gloomy picture which our financial De
Tartment now presents, and which calls for the ex
ereise Of a rgd economy in the public exoendi
lures, aud the rendering available OF all the mean
within the control Of the Government. most rec
pecifuly submit, whether this is a time 10 siv
. away the proceeds Of the land sales when The 5ub
lIe lands constitute fund which, Of all others M
be made most useful in sustaining the public credit
j Can the Government be generous and muni6eent 4
u others when every dollar IL can command Is neees
. sary 10 supply its OWE Wantsl And II Comes,
would not hesitate 10 suffer the provisions Of the ~
o u An September last % remain unrere1led IN cas-
q the county was involved in war s not the neces
o si'y fif such course now Just as imperative as
c would te ,hcn2
~ ;. a third objection remains 10 be urrsJ. Wbie
. would be sufficient, m itscf 10 induce me 10 -
: turn the bill 20 the House with my objections 81
u uniting two subj cts 50 iicongruous as Tariff an
Distribution, 70 inevitably makes the fate Of the ON
dependent upon that Of the other in future ron,ss
Of party. Can any thiog be more fatal 10 The mo-
chant or manufacturer than such an alliapes7 WI.
8 they most Of all require is a system Of modern,
2 duu-s 50 arranged as to withdraw the Tariff ours
= ton, as ii as possible, completely from the aren,
y political contention. Their chef want IS perm,
nency md stability. Such on increase Of the Ia
uh, ! rs.icvc 10 be necessary N order 70 meet m
u tconom cal expenditures OF Government. such I,
increase made IN the spirit Of moderation and In
u deiCus determination, would, have no doubf b
entirely satisfactory 10 The great majori,y OF M
~ American People. In the way Of accomplishing
2 measure 50 salutary and 50 imperbtively demande
by every public interest, the legislative Dep,rt
meni will meet with a cordial cooperation on m
. part Of ne Executive. This IS on thst the mar,
iactufcr desire and ID would hs,.f..