Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-09-22
WHAT PARTY rs RESPONSIBLE FOR IA.
NATIONAL. DEBT1

1.-The North American denies the responsibility q d.
Wings for the npd creation ofa natioaaf DEBT We msss
still hold that they ara vspoosbs for The dshs. inss-
much as. Il they had made the promisrd rstronchmeats
nj the commencement Of their rplt that deb4 wou3A
have beon unnecessary, o-Pmnsyraa;a
1hisies', from the Democratic organ Of phladslphia
city, contains Two propositions which the prvss and
the orators Of its party arc accustomed insist, su,-
bracp inoInenious issue between the gea nAss II The
Wings and the several factions Of their political opvo
nohls. Whhou, resor,ing 10 natural dscamaiien ..
which abors 10 produce in the popular mind the belirf
that the Wings responsible for the origin iscsesse
and continuation Of the present national debt. pro-
pose 10 show
First That tho Jackson Van Buren, Administration
laid the foundation and built up the pncpa mass u the
national debt.
Second That the Wings, upon acquiring the ssren.
daney in Congress in 1871 instantly proposed snA ~,
ged measures for liquida,ing the debt, and tia, ,he
failure at that time. and uniformly since 4, effect t,e
object was caused by the opposition Of the Van Iuren
parity rendered cfsren, by We CRUISE Of The Exera
live.
ls According to various official statements in tie
Treasury Department. II appears tina, on the st Of Ian
oary. 1897 Owe months before the administration Of
Martin Van Buren, commenced there xas arpl,s in
Tho Treasury arising from ordinary sources Of revenue
amounting TO 4i7,iWOO
There was an additional sum acrruisg
from tina, date 10 March 4, fe4I, ari.
ain. from other than ordinary sources,
amounting to 9.l25Go0
There issued. in the same PERIOD
Treasury notes amounting TO 1850 .0C0
--------
Making the NYptas and aralaLh means of
the Treasury from January, 1887, over
aud above the regular receipts for cus.
toms aud public lanis, within these
four years. amoun,,o SCI, $4,000
Here a Of nearly thirty two millions Of dol
lars, which was received into The Tnasrry during the
four years of Mr. Van }uren's administrations. exclusive
of the regular and cnorinou3 receipts from the customs
and tho public lands Tho receipts woro as iolla~s:
From ia nusry. 1897, 10 Jar,sry, lS4l..
tho revenue from dutics imports was SG2 S0oCOD
The revenue from the public lands in the
same period was oo,eoo,oOa
Making the nett ordinary revenue Of Mr.
Van Buren,. term ss3,ooocoo
Tito this sum we add the amour, NJ above.
from extraordinary Sources viz. 81 $4,000
We have the total sum Uf Alt5,sT50WI
Neatly ono hundred and fifteen millions II dollars maid
into the 'loasnry under Mr.. Van Burens adminis,rx.
ton. being on average nearly twenty nine millions annu-
ally.
But such thu wicked mud maichlcss exisavspaacc
othat Administrator. lhs when the Treasury Report
was made under TIN present Crylcr) Administrations
the Is. of June lsal, it appeared that all these vast
ooans had been exhausted and that the deficit in the
Treasury for that year alone would be least rSfrs
millions Of dollars. making Martin Van Buren, and his
party responsible for abou, hund rcd and thirty mil
bnii up during his term ltcsistcd when be was turn
ed out of office by tho People. although hs anf ls yay-
iisans had taken scrupuaus precautions cali the
monster by It's right name So much for our first rropo-
sltlon.
| I'd The first business entered upon by ,lc Cabnrs
appointed by President Harrison. and pursued by rho
Wings In Congress- ascertain the condition. " The
national finances, to provide incoe, and to bring expan
dture withna reasonable limit. Il required ncon-
siderable labor To bring 10 light tho nature and tho
mount OF the of the Van nurrn yulss
the facts have stated above, were snhsansiaayy
asceraincd Two difficulties prominently lay 10 tne
way Of rasng revenue adequate To meet the then a~fat
deficiency. and to supply the continuous demands ulDa
the Treasury, Ono was the declining credit Of tho CIV
eminent, the other tho connricy Of views in Congress
in regard to a Tariff. The Wings however, were de-
lermed to act promptly and accordingly the ri, Of
June, 1871 only week after Congress organized
atthc extra session. MIR. Clay introduced tho fplbwirr
resolutions into the Senate:
"Resoired In the opinion Of tho Senate at the prrs-
ont session Of Congress- business ought to be traua
acted but such as being Of an important and urgent
nre, may be supposed N have influenced tho extraor
binary convention Of Congress- such as that the rs
ponenent oft might bc materially detrimental " the
public interest.
'hcsoircd Therefore, in the opinion Of TIM SenAse
that the following subjects ought FIRST exclusively
to engage the deliberations Of Congress at the present
session, viz.
list. The repeal ofthc sub.Treasury
''.,d. The Incorporation OF Bank adsp,ed 10 the
wants of The People and Ut the Government.
'3d. The provision of An adequate revenue for tho
Government. by the imposition OF duties, and Including
en- authority to contract temporary loan 10 lessen. re
public debt contracted by the las. Administration
9th The prospective distribution Of the proceeds Of
The public lands. s.
9th The passage Of necessary appropriations hlls
Resotred That is expedient b. distnbuic the bust
proper to be done this sesso between the Sen
ate and House OF Representatives rs to allow OF boil,
Iouscs acting the subject at tho sarc lime
Here was the evidence Of tho cayeruess on The ran of
Nj Clay cageress shared by Els roli,iea friends 10
g. at once TO work, and place the financial affairs " The
Government on prorer footing. revenue. a loan, and
bank PROJECT wero consequently prepared, and twice
was tho latter vetoed by the President ser infinite Ia
Dor on the part of the majority to cary out their own
rgna measures, and failing that effort 10 accom,rc-
date them TO the Executive will Il VIA The constant
aim Of the Wigs 10 transact business, and cut ca dec
lamaton in Congress Hence ''the dic-hour rule
which the Orpuition, being adverse TO action aud de-
lighting in long speeches. uniformly resisted iothc er.
tent Of their power. The original ylan proposed bv
Secretary Ewing, of funding the dibt crcaicd by VA
Buren, and Of extending the requisite n to enhi
which would at the time have made tho negotiation
on easy terms perfectly fcasibcwss strenus,lsly Dr..
noune.d BY his partissns SO long as the Treasury
could be harassed by its mates falling DUE and bv
claims for which no means we're collected, they wsss
satisfied provided the people could thereby be rezuaded
Of their especial enmity To "a national debit" And with
the same condition they are satisfed still They would
gather have actual debt Of hundred millions Of dol
lars depressing the country under some fictitious namc
Than fund Unnecessary. the amount ofone hundred