Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1842-08-22
.1,lsO,OOO
Leaving an available amount of
- =
a97O.oOO

rho leaving an available amount of s97O,OOO
% Mayy department had drawn acquisitions the reasu
IN W .at Time to meet debts actually due, among which
o uade, protest for s4oOO thus leaving
There about of unissued Treasury notes
PEI week exclusive of receipts unpaid bonds requ
withdrawal Of The Of s64O distributed among
ne States SO soon as the statements made
up and completed by virtue the provisions of the ACT Of The
an A., September last Of which nearly mocty goes to few
States while adds materially the of the
itSa'Gry, affords to ne States no decided relief
uness what would most deeply be dopored Government
M aw al rate S discount uinous in ITSELF and calcuat-
cd most seriously 10 affect the public credit great the de-
law, and be productive, time would capso before
sufficient supplies would flow into the Treasury while in tho
tlme emblrrassments would
by tho semiannual distribution Of the land proceeds
h mere rs oui too much reason TO appehend that
eeeas Of nc land 9les an actual deficit in the Treasury would
Let be remarked that of the public debt be-
comes redeemobe in about and half which, any
saclce must be met, while the Treasury always liable
ma oI me payment Of outstanding Treasury notes Such
~ he gloomy picture which financial Department pre-
sen aad which calls for the of a rigid economy
within the control Of the Government respectfully sub
whether ms = time TO give the proceeds of the land
eIs, may be made most useful In sustaining the public credit
e DO generous and munifcen to others when
every dollar can to supply its
And If Congress would hesitate suffer provisions -
the act Of 4 September last to remain unPeaed in the
now Just as imperative as 1t would be then!
ccnt in itself to induce me to return the bill to the House
with my objections BY uniting Two subjects nconguous as
depend that of tho other future of party Can
any thing be fatal to the merchant manufacturer than
such an aliance What they Of all require system of
moderate Duties arranged withdraw the Tariff question:
as far as possible completely from the of political eonien
tion Their chief want and stability. Such
increase of the Tariff believe necessary
the economical expenditures Of Government. Such increase
made IN the spt Of moderation and udcous Discrimination
would have no doubt be entirely satisfactory the great
sauary and mperatvey every
lie interest," the Legislative Department will with
manufacturer dese and would be burden readily borne
y inc People But cannot too earnestly repeat that in order
nent must command general acquescence But can such
with that of Distribution which conflict of opin
ion exists among the States and the People, which enss
Houses of Congrcs What or Stability can attach
to measure which, warning upon ITSELF gives away fruitful
taxes the Peope' Is the manufacturer prepared stake
himself and his interests upon such an issue
know that urged but enormously, in my opinion,
That Instability is Just as apt to be produced by retaining the pub
this is ascribed uctuation it is said, the
amount of sales If there any thing in this objection, it
amount OF annually derived from duties constantly Ii
aOe to change The regulations Of foreign governments the
in ade and variety of other circumstances
mesc and Of consequence levied upon The
sales of the public domain in ordinary times regulated by
xed laws which have their basis in demand increasing only
the increase OF population Ia recurring to the statistics connect
cd with VIII be
years preceding 1884, the of land sales did
exceed 81, OOO 900.
For the increase which took place in l635 and G.
look to that peculiar condition of the which of
of the extraordinary business
ulntion which have history
and currency. II the fruit of wild spirit OF
gendeod by vicious OF credits under the evils which
the country still abong, and which fondy hoped will
not Considering the amount OF investments
made by private individuals in the public and during those
three yeas aud which equaed $40 equal than
~ years purchase taking the of sales of the
ding years. may be safely asserted that the result Of the public
land sales hold out nothing alarm the manufacturer with
idea Of instability the revenues, and consequently
course of the Government.
Under what appears me- therefore, the soundest consera
tons of public policy und in view of every branch
of domestic industry, you the bill with these
tons to its becoming law.
take occasion emphutcaly repeat anxious desire
cooperate with Congress- in the passing Of law, which, while
shall assist supplying the the Treasury
t3hsh public credit shall afford to the interests
OF the country all the incidental protection they require.
Amer all, the effect Of what do il substantially call
Congress reconsider the subject IT. such reconsideration
majority of twohs of both Houses should be
measure, will become law Notwithstanding my objections
In of clear and manifest the OF the President
the presumption of the Constitution is that such majote will
be found Should they be found this having consc
entous discharged duty, shall cheerfuy acquiesce
in tho result. JOHN TYLER.
WAsHISGroN, August 9Th, 1912.