Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1842-07-16

loan would be eagerly taken up by capital.
lists, and speedily reimbursed by country
destined, as they hoped, soon to enjoy an
Overlooking prosperity. The very terms OF
the loan making it redeemable IN three gears,
demonstrate this beyond all cavi Who al
that time foresaw or imagined the possible
ity Of the actual state of things, when a
nation that has paid off her whole debt since
the last peace, while all the other great
powers have been increasing theirs, and
whose resources already 50 great, are yet
but in the infancy oftheir development,
should be compelled to haggle in the money
market for paltry sum, not equal to one
years revenue on her economical systeml
If the Distribution law is to be indefinitely
suspended, according not only to its own
terms, but by universal consent, in case of
war, wherein are the actual exigencies Of
the country or the moral obligation to pro-
vide for them, less under present clrcum-
stances than they could be were we actual
Iy involved in war; 1t appears to me 10 be
the indispensable duty of all concerned in
the administration of public affairs, TO see
that state of things so Illuminating and 81
perilous should not last a moment longer
than is absolutely unav oidabe. Much less
excusabe should we be in parting with any
portion of our available means at least.
until the demands of the Treasury were
fully supplied. But besides the urgency of
such considerations, the fact is undenabIe
that the Distribution act could not have be-
come a law without the guaranty in the
proviso Of the act itself.
This connection, thus meant to be insep-
arabic, is severed by the bill presented to
me. The bill violates the principle Of the
acts of 1883, and September, lS4l, by sus-
pending the first, and rendering, for time,
the last imperative. Duties above 20 per
cent are proposed to be levied, and yet the
pr0uiSo in the Distribution act is disregar-
ded;the proceeds of the sales are TO be dis
tributcd on the LIST Of August, so that while
the duties proposed TO be enacted exceed
20 per cent, no suspension of the distribu-
ton TO the States is permitted to take place.
To abandon the principle for a month,
opens the way to its total abandonment.
+ If such is not meant, why postpone at all!
Why not let the distribution take place on
the LIST Of July, if the law so Directs
which, however is regarded as questIona-
ole. But why not have limited the provis-
ion to that effect! Is it for the accommo-
dation Of the Treasury? see no reason
TO believe that the Treasury will be III bet
ter condition to meet the payment on the
Isl Of August than on the LIST of July.
The bill assumes that distribution of
the proceeds of the public lands is, by exis-
ting laws, to be made on the lst day of
July, 1912, Notwithstanding there has been
an imposition of duties on inposts exceed
ing 90 per cent. up TO that day, and di-
reefs it to be made on the first of August
| next. 1t seems to me very clear that this
construction is equally erroneous and dan
, gerous, as it would divert from the Treas
ury fund sacredly pledged for the general
purposes Of the Government in the event
Of a rate % duty above 20 per cent. beng
found necessary for an economical admin
istration Of the Government.
The bill under consideration is designed
as only temporary measure, and thus
temporary measure passed merely for the
convenience of Congress is made to affect
the vital principle of an important act. Ii
the provso Of the act of September, 1871,
can be suspended for the whole period Of
temporary law, why not for the whole
period of permanent law2 4 doubt may
be well entertained, in fact, according to
strict legal rules, whether the condition
having been thus expressly suspended by
this bill, and rendered inapplicable to case
where it would otherwise have clearly APP
piled, will not be considered as ever after
satisfied and gone. Without expressing
f anv decided opinion on this point, ! see
enough in it to Justify me in adhering to
the law as it stands, in preference to sub
iecting a condition so vitality affecting the
peace of the country, and SO solemnly en-
acted at momentOus crisis, and SO stead
T fastlv adhered to ever since, and SO replete,
/, if adhered to with good TO every interest of
the country, TO doubtful or captiOus inter
| probation.
In dscharging the high duty thus imposed
on me by the Constitution, repeat to the
) House my entire willingness to cooperate
in all financial measures Of constitutional
7 character, which, in its wisdom, it may
! Judge necessary and proper, to re-establIsh
/ the credit of the Government. | believe
, that the proceeds of the sales Of the public
, ands being restored to the Treasury, or
more properly to speak, the proviso of the
act Of September 1871, being permitted to
remain in full force, Tariff of duties may
, easily be adjusted which, while it will yield
a revenue sufficient to maintain the Gov
eminent in vigor by restoring its credit,
will afford ample protection and inluse a
new life into all our manufacturing estab-
, lshments. The condition of the country
calls for such legislation, and il will afford
me The most sincere pleasure to cooperate
7 in it.
I JOHN TYLER.
r WASHINGTON, June 30, 1912.