The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-07-02

49, nnhlic debt Let the duties, be adjusted, with
VIEW 10 meet the current demands Of the public ser
yics alone and not the whole aggregate charge OF the
CIV rnment consisting Of both debt and current ex
rsnJture The latter would necessarily be the case,
th land fund were surrendered To the States
and the consequence would be, that as soon as the
deht was di charged reduction of duties would be
called for exposing the interests which may have
grown % under them TO all the evils of vaeiiiatng
snd unstable eg saiion. On the other hand the
land fund, being exclusively devoted To the extn-
guishlnen OF tie public debt, might when it had
n,rorntd that office be properly made the subject of
PREPARATION among the States" according to the sug-
geson Of Mr. Jefferson and thus the system OF i'm
p1s- invoking vitality the interests of private in
duslry and the employment and distribution of the
national capital, would be kept stable and uniform in
its operation.
As last resort in argument, we are sometimes told
that the States heavily Indebted, and that they
must have the land money to pay their debts But
The States have their domestic administrations to
lake of their interests and to pro vide for their
crssities. They are competent to do and will, l
firmly believe, trlgmphantiy ain their credit
and the honor of the American name. They
will follow the example of noble Pennsylvania, the
most embarrassed of them all and instead of vainly
PRAYING to Hercules u deliver them, they will man
fully put their shoulders to tie wheel. What
auth ry have To pay the debts of the States even
if we had the means Have constituents, or the
Constitution Of the country, gwen us any warrant TO
proud and too just to ask it. The highest and most
honorable service render then is to abst ain
from pressing upon their resources by unnecessary
taxation, and TO uphold the national credit, which is
the chief support of theirs by faithful and vigorous
application OF all ou means, to exrlcate the finances
Of the nation from the deep embarrassment and dis
grace which have unhappy fallen upon them.
| would respectfully suggest, for the consideration
Of the honorable chairman of the Committee of FL
nance whether this is likely to be done by an ex-
elusive and too confident reliance upon the capa-
city of the customs. This is, after all, hut
limited resource. You may augment your rate of du-
ties Indefinitely; but while you increase dues you
may diminish revenue This has been already striking
ly shown in the experience of England; and Sir Ro-
bert Peel his late able speech the finances ofthat
country, has given some very instructive examples
of it. The duties having been pushed there to their
utmost productive limit he has thrown himself upon
the expedien of ncometax the sole alternative
of supply. would ask my honorable friend by what
dichpmy he is to extract twcnty-seven millions of dol
lars Che estimated amount of expendilure) by duties
upon the foreign commerce Of this country, in its pre-
sent condition 1t cannot be done, SIR have here
toore given the of this opinion, which will
repeat: but stake myself upon its truth, if
shall unfortunately be put to the test of actual
pertinent. IT, then, in the straits to which are now
reduced, the public lands to be recklessly given
away, may prepare ourselves at once for system
of direct taxation. We shall no longer be able to
say in the language of Mr.. Jefferson, " it is the pride
and pleasure of an American to ask what farmer,
what mechanic, what laborer the face of a
tax-gaherer of the United States" AT best MIR. Pre-
sident must submit to be taxed, through heavily
increased duties, in every thing eat and drink and
wear to pay back to the Government, with enor
nous charges, the sum it distributes from the
Treasury to the States and must be permitted to
believe that the intelligence of the American People
Is far too much advanced to see any advantage to
them in such process as that