Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1842-04-08

credit, but with any thing approaching to eff.
cheney in the conduct Of public affairs. It must
| be obvious, even to the most inc vpe rienccd
minds, that, to say nothing of any particular ex.
! igency, actual or imminent, there should be a,
all times in the Treasury of a great nation,
with view to contingencies of ord n,ry occur.
renee, surplus at least eqial in amount to the
deficiency Bat that deficiency, serious as it
would be in itself, will, am compelled to say,
rather be increased than diminished, without
the adoption of measures adequate 10 correct
the evil at once. The stagnation Of trade and
business, in some degree, incident TO tho de-.
rangenent Of the national finances and th.
state of the revenue laws, holds out but little
in prospect Of relief, in the ordinary course of
| things, for some time to come,
Under such circumstances am deeplv i'm
pressed with the necessity Of meeting the cr.
IS with v'gor and dec sion which il impera.
lively demands at the hands Of all entrusted
with the conduct of public affairs. The prav.
| lty OF the evil calls for a remedy propotioned
to It, No slight palliatives, or occasional expe-
pedlents, will give the country the relief il
needs. Such measures, ON the contrary will,
in the end as is now manifest to all zoo surely
multiply its enbarrassments. Relying. as /
am bound to do, on the Representatives of a
People rendered illretrous among nations by
having paid OF it's whole public debt I shall no,
shrink from the responsibility imposed upon
me ny the Constitution, Of pointing out such
measures Will in my opinion, ensure adequate
reI'ei. am the more encouraged to recon-
mend the course whick necessity exacts, by the
confidence which have in it's complete suc.
cess. The resources OF the country, in every
thing that constitutes the wealth and strength
OF nations are 40 abundant, the spirit of a mos,
INDUSTRIOUS en'erprising, and intelligent Peo-
pie Is SO energetic and elastic, that the Gov
eminent will be without tho shallow of excuse
tor its delinquency, if the difficulties which
now perplex and embasslm it, be not speedily
and effectualy removed.
From present indications, it is hardly doubt
full that Congress will find it necessary to Law
a 'dtIonal duties on imports in order 10 NEE,
'hc ordinary current expenses of the Goverr-
ment. In the exercise IF a s,und dscriInna
ton, having reference to revenue, but at the
same time necessarily af1rding incidental pro-
lection to manufacturing industry, it seems
equally probable that duties on some articles OF
importation will have to be advanced above 70
percent inper!orning this important work OF
revising the tariff OF du les, which, in the pres
eat emergency, would seem to be iniispensa.
bic, cannot too strongly recommend the cult
va'InH OF sprt of m tn i harmony and con.
ITS origin and without the continued exercise of
which jlrring and discord would universally
prevail.
An additional reason for the increase Of du.
ties IN some instances beyond the rate Of 20
per cent, will exist in fulfilling the reconmen.
hatlons already made and now repeated, of ina.
king adequate appropriations for the defence OF
the country.
By the express provision of the act distrbu
ing the proceeds of the public lands among the
oiateS, lis operation is, ipSo facto to cease SD
soon as the rate of duties shall exceed the lin.
its prescribed in the act.
Ia recommending the adoption of means for
distributing the proceeds of the public lands
a".ong the States, at the commencement of the
last session OF Congress, sIch distribution was
urged ny arguments and considerations VIII oh
appeared 10 me then, and appear to me now, of
great weight, and was placed on the condition
that tshou'd not render necessary any depart
ure from the act OF 1888. 1t is with sincere
regret mat now perceive the necessity of de.
parting from that act, because am well aware
that expectations, jas,ly entertained by some OF
the States will be disappointed by any occur
renee which shall withhold from them the pro-
ceeds OF the lands. BIT the condition was
plainly expressed IN the Message, and was in
serted IN terms equally plain in the law Itself;
and amidst the en5arra ssnents which surroun
ded the country on all des, and besct both the
General and the State Governments. it appears
to me- that the objects frs, and highest in int
portance, is to establish the credit Of this Gov.
ernnent and to place it Oh durable foundations,
AMI thus all1rd the most eff.ctual support to the
credit of the States, equal, at eas', to what it
would receive from direct distribution of the
proceeds of the sales OF the public Lands.
When the Distribution law was passed, there
was reason to anticipate that tie G soon would
be a real surplus 10 distribute. On that as.
sumption, it was in INV opinion, a wise. a inst.
and benecent measure. BIT to continue in
force, while there is no such surplus to dis.
tribute, when it is msnifestly necessary no, on.
" to increase the duties, but at the same tim,
to borrow money in order to liu,ida,e the pubic
deb, and disembarrass the pub,ic Treasury.
would cause it to he regarded as an unwise al.
iena,ion of the best security of the public cred.
i,or, which would with difficulty be excused.
and could not he justified.
Causes of no ordinary character have recent.
" depressed American credit in the stock m,r.
ket OF the world to degree quite unpreceden.
tai. need scarcely mention the condition of