Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1842-08-30
Leaving an available amount Of s97O,OO
l,l60,00O

The Navy Department had drawn re.
QUESTIONS on the Treasury, at that time
to meet debls actually due, among which
are bills under protest for Si,4l4,0OO,
thus leaving an actual deficit Of S444,-
600.
There was on hand about 100000 Of
uhissued Treasury notes, assisted by the
accruing revenue, amounting to about
Sl50,CO0 per week, exclusive Of re-
ceipts on unpaid bonds, TO meet requisi-
tions for the Army, and the demands Of
the civil list.
The withdrawal ofths sum Of S640,000
10 be distributed among the States, so
as the statements and accounts can be
made up and completed, by virtue Of The
provisions Ofihe act Of the 4th Septem
ber last, Of which nearly a moie,y goes
10 few States end only about $3.50 900
is TO be divided among all the States,
while it adds materially to the embarrass-
ments Of The Treasury, affords to the
States no decided relief.
No immidiate relief from this state of
things is anticipated, unless, what would
most deeply be deplored, the Government
could be reconciled to the negotiation of
loans already authorized by law, at rate
of discount Tuinous in itself, and calcula-
ted most seriously to affect the public
credit. So great is the depression Of
trade that even if the present bill were
to become law, and prove to be produc-
tive, soma time would elapse before suf.
fcient supplies would flow into the Trea-
sury, while, in the meantime, its embar,
rassme nts would be continually augmen-
ted by the semi annual distribution of the
land proceeds.
Indeed, there is but too much ground
to apprehend that even if this bill were
permitted 10 become law, alternating as
it does the proceeds of the land sales, an
actual deficit in the Treasury would oct
cur, which would more than probably in<
volve the necessity of resort to direct
taxation.
Let it also be remarked, that S5,000,-
900 of the public debt becomes redsem>
able in about Two years and half, which
at any sacrifice, must be met, while the
Treasury is always liable to demsnds for
the payment of outstanding Treasury
notes. Such is the gloomy picture
which calls for the exercise of Iigid
economy in the public expenditures, and
the rendering available of all the means
within the contrel 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 munifceAt to others,
when every dollar it can com mInand is nee.
essary to supply its own wants? And if
Congress would not hesitate TO suffer
the provisions ofthe art of 4th Septsm..
Der last to remain unrepealed in case the
country was involved ia war, is not the
necessity for such course now just as
imperative az il would be then!
8. A third objection remains to be urgs
ed. which would be sufficient, in itself,
10 induce me TO return the bill to the
House with my objections. BY uniting
two subjects so incongFuous as tariff and
distribution, it inevitably makes the tate
Of tlIa one dependent upon that OF the
other in future contests OF party. Can
any thing be more fatal to the merchant
or manufacturer than such an alllsnce?-
What they most of all require is system
| of moderate duties, so arranged as to
Withdraw the tariff question, as far as pos
sibIe. completely from the arena of polit
ical contention. Their chief want is per-
manency and stability. Such an increase
Of the tariff, believe to be necessary, in
order to meet tho economical expendi-
lures OF Government. Such an increase,