Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-03-29

enc fund, ample in magnitude TO the payment OF
| his interest and ultimate reimbursement VI ms
| principal Such is the character oil the Land fund
The most vsilant money dealer will readily per-
eeive that only will his interest be secure. on
such pledge. but that debt Of sis, 900. OF
$40 0O0. 900. would, by the surplus OF sales ove'
and above the payment OF the interest liked Tor rs
redemption, be exiting uishea within any reasonable
time. Torelieve the Treasury from its embsrrass
ments, and TO aid in meeting its acquisitions. unit
time ~ allowed for any tariff OF duties TO become
available, Il would seem TO be necessary to fund =
debt, approaching to sl5.oo0,o0o, and IN order to
place the negotiation Of the loan beyond a reasona'
BILE doubt, l submit TO Congress whether the pro
eeeds OF the sales OF the public lands should not be
pledged Tor the payment OF the interest, and The
Secretary Of the Treasury be authorized out OF the
surplus Of the proceeds Of such sales, TO purchase
the stock; ard also when can be procured on sueh
terms as will render IL beneficial IN that way 10
eItinguish the debt, and prevent the accumulation
OF such surplus while its distribution rs suspended
No one can doubt that, were the Federal Treo-
sury now prosperous rs II was ten years ago,
and its fiscal operations conducted by sn efficient
agency Of lite own cc-exensive with the Union, the
embarrsssments of the States and corporations in
them would produce. even If they continued as they
are, (were that possibe) effects far less disastrous
than those now experienced. IL is the disorder
here, at the heart and centre of the system, that
paralyzes and deranges every part OF II. who
does not know the permanent Importance, not 10
the Federal Government alone, but TO every State
and every individual within its jurisdiction, even in
their most independent and isolated individual pur
suits, in the preservation Of sound state OF public
opinion, and judicious administration hete1 Ths
sympathy is instantaneous and universal. To at
tempt to remedy the evil OF the deranged credit
and currency Of the States, while the disease Is al
lowed to rage in the viials OF this Government,
would be a hopeless Undertaking.
IL is the full conviction OF this truth which en-.
boldens me most earnestly 10 recommend 10 your
carly and serious consideration, tho measures now
submitted 10 your better judgment as well as those
TO which your attention has alresdy been invited.
The first great want of the country, that, without
answering which, III attempts ct lettering the pre-
sent condition OF things will prove fruitlass, is
complete restoration of the credit and finances of
the Federal Government
The source and foundation OF all credit. is in the
confidence which the Government inspires; and jus,
in proportion as thst confidence shall be shaken or
will be the 6stTusi among all classes OF
the community, and The arrangement ard demornl
cation IN every branch Of business, and all the IN
teIesis OF the country. Keep IN the stndaNd OF
good faTh and punctualiiy IN the operations u the
General Government, and all p,rtia, irres ulcrites
and disorders will re recthej sy the ind uenee of Us
eNsmPie; bat suffer that standard TO he de-
based or dislui bed, and u is impOss5. To f,resee
10 what degree OF degradation and coaius ion III
financial interests public aud orvaie, may sink. In
sueh country as this tho R-Erss natives Of the
People have ony TO will It, ana ,he pubic oFsdi,
viii I've RS high as II ever ~as.
ny o"u vows OF tue measures c. 'cui1teu 20 ei |
Get this great and desirable jet, | have thus !
fanSly expressed TO Congress, under circumstances
which give TO the entire subset peculiar and So
emn interest The Executive can 60 no more ri
he credit of the country be exposed TO question:
I the public offences he broken down or weak.nsd
= II the whole administration OF public affairs be
embarrassed for want OF the necessary means for
conducting them with vicor and effect, trus, lhat
his Department OF the Govcrnmea; will co found
have done all that in its po~or to avert such
wis, and will be acquitted of all jus, b,ar-e on
ecount Of them. JOHN TYLER