The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1842-05-19

q being rrisksn inio she 1'rsa,ury &C
shis Gasernmsni. ihefsby i6oidihg tho
means Tor extrzysgsnes.
Mr cslhann said ihe Senator wss ma
here. add Of course eosld not know tho
reasons shlch had indsced him 10 ssis
Tor wishholding The 4ih insHImsni from
the States. lie ~as opposed 10 collect
ing moneys for d,suIbsiion. and ssni
lor d'suibnsing in ihe 6rsl inslanre only
beesnss there vas surplus on hand.
Whfn II uas needed. he voted 10 rssisss
a 10 the Treasury. Boz The had uniforms
" soled against exlrassgsni srpr0pras-
Iiens.
Mr.. Graham said he had not been ex-
aiming The snles Of ihs S,pslor ler Iuf-
poses u ctnsnre. BAT was calling bic a.
lenIisn. and that 0f The Senate. 10 whsa
conceive 10 have been an unfortunate
mistake. 10 giving 20 the Government
temporary means 80 far 10 exceed lis reg
ul.r laenme in i,s expenditures. end 10
carry them 10 q height. from which ihs
present stale Of our finances sOuld de-
msnd so strup, and hssiy descent. Az
10 10. service naw eos'irg you twenty
odd millions Of dollars rer year 10 sud
denly lei dawn upon means not exceed
ing thirteen and o half millions; snd Us
weight 10 accumulated BY public deb, Of
FIVE and half msllioas. left BY The lssl
Administration, bearing an annual inter-
eel Of 100000 dollars. TO meet This def
cheney what have vel Instead Of surplus.
ne have deb,; instead Of extraordinary
means falling IN. We have daily inereas
ipe charge Of interest; instead Of ssnfrof
40 per cent, we have one nearly sppiosch-
ing 20 per cent, and that upon little more
Than half The imports. What then 10 lo
DO donei II we propose 20 borrow mon.
ey 10 defrsy The present expenses III Gov
eminent, we are told that We are run
ming the nalinn in debt. II We propose
10 levy duties TO furnish permanent
revenue, We are taxing The people. IL
we suggest relrenchmsni, aud cutting OF
such paris OF The public service AZ are no,
most needed. we arc lold shere is immi.
nent danger al war. and that The most
vigorous preparations Tor ], sh"nld no. be
omitted. Mr. President. our whole duty
IN This emergency seems 20 me 10 be
comprehendeJ in three propositions:
Isl. Borrow such sum. upon The best
terms you can obtain. as v III relieve your
present necessities. aud save the public
honor IRON disgrace. v
81. Reduce your expenditures 20 The
loves, point which 10 consistent with an
efficient public service.
81. Levy such dolies upon imports %
are necessary for an economical admin
istraiion Of the Government, and no
more.
But. sir. our opponents have one pam
acea for oil the difficulties Of The nmes.
Take back The proceeds Of The lands. ssy
they. A direct proposition to that effect
was early introduced BY The Senator from
Missouri. (Mr. Linn.) And no matter
wha. may be the particular subjec. under
consideration, il is perpetuslly moved by
way Of amendment. Nov, LEI me ask N
all candor, if they are resumed into the
Treasury, Of uhst avail arc they! Last
year The melt proceeds but little exceeded
a million Of dullsrs. end il is exceedingly
doubllul what they may be in years TO
come. To say nothing Of the immense
quantities in the hands Of Specializing
companies. the very fact that large grants
were made TO The several new S.aies, by
the distribution acl, embracing in The
whole. think, neat NV millions 0f acres,
with the liberty Of selecting choice quail.
i,ie,-gran,s slready petfecl because made
b. The statute itself. aud incapable Of 10.
peal, whatever modern democracy may
urge TO the con,rary-will make those
States our competitors in the market, and.
apart from the depression Of moneyed
affairs, must diminish The receipts from
that source. But. suppose The annual
proceeds to be three millions at dullaIs.
the maximum that has been estimated
here, what il this. compared with tour-
teen millions. the amount by which the
Secretary OF the Treasury informs Us The
curren, revenue Of the year will be de.
6cien.! With or wI,hou, the lands, there
fore, the necessity for loan is exigeut
and unavoidable.
But. Mr.. President, were il o,herwise.I
would ponder long before could cnnsent
70 disappoint the just expectations of the
Ststes and the people in regard 10 these
lands. No subject has been more discus
sed or better understood IN this country
for The las, ten years, than tina, Of The DIS
lribu,ion Of their proceeds smnne the
States. None oceupieds more prominent
place in the Presidential canvass of 1910.
None was more dis,inAly or buddy pu,
forth as leading article of his creed Of
policy. 10 his letters. speeches. ard ad.
dresses TO his fellow-citizens. by the illus
trious man who was then called 10 preslds
over Us. And whether we l0ak 20 The
results Of elections. the proceedings OF
populsr assemblies. or State Legislatures,
no measure on which parties in our couu.
try have divided has, SO far as recollec,,
so many and such unequivocsl evidences
Of public opinion in its favor.