Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1842-08-19
4lh Of Sep l84l, Gao 900
$l,IsO,000

Leaving an available balance Of 100000
The navy department had drawn re-
QUESTIONS on the treasury, at the time.
TO meet debts actually Que, among
which are bills under protest for 81
Ala 900, thus leaving an actual deficit
Of SAL, 900
There was on hand about Sl00, 900 OF
unissued Treasury notes, assisted by &C
cruing revenue, amounting to about
$4,000 per week, exclusive Of re-
ceipls on unpaid bonds, TO meet requi.
sirions for the army and the demands Of
the civil list.
The withdrawal OF the sum of $780,
900 to be distributed among the states,
so soon as the statements and accounts
can be made up and completed, by vir-
tue of the provisions Of the act Of 4th
Of September last, Of which nearly a
moiety goes TO a few States, end only
about 1884 900 is 10 be divided 10 all
the states, while it adds materially 10
the embarrassment Of the treasury,
affords to the states no decided relief.
No immediate relief from this state
of things is anticipated, unless what
would be most deeply depIored, the
government could be reconciled to the
negotiation Of loans already authorized
by law, at q rate of discount ruinous
within itself, & calculated most serious
Iy to affect the public credit. So great
is the depression of trade that even if
The present bill were to become a law,
and prove to be productive, sometime
would elapse before sufficient supplies
should flow into the Treasury while 10
the mean time its embarrassments would
be continually augmented by the semi.
annual distributions ofthe land proceeds,
Indeed, there is but 100 much ground
to apptehend that even il this bill were
TO become a law, alternating as it does
the proceeds Of the land sales, an actu-
al deficit in the treasury would occur,
which would more than probably in
voIye the necessity Of a resort to direct
taxation.
Let it be also remembered, that So,
500 900 Of the public debt becomes re-
deemabIe in about 2 years and a half
which, at any sacrifice must be met
while the Treasury is always liable tC
demands for the payment Of outstanding
treasury no,eo, Such is the gloomy
picture which our financial department
presents, the public expenditures, anC
the rendering available Of all the means
within the control Of the government
= must respectfully submit whether thi'
is a time to give away the proceeds o
the public land sales, when the public
lands constitute a fund which, Of al
Others, may be most useful in sustain
/, ing the public credit. Can the govern
meut be generous and munifcent Il
others when every dollar it can com
0 mand is necessary to supply its owr
wants2 And If Congress would not he
J state to suffer the provisions Of the &C
o~fthey4th Of September last to remain
, u~nrepeaied in case the country was in
vol we'd in war, is not the necessity o
such a course now just as imperative a
' It would be then2
, 3, A third objection remains to bt
' urged, which would be sufficient within
: itself to induce me 10 return this bill Il
| the House with my objections. BY unit
e ing two subjects 50 incongruous as tarit
% and distribution, it inevitably makes tn
% fate Of one dependent upon the other i
future contests Of party. Can any thin
q be more fatal to Tho merchant or mar
= ufacturer than such an alliauce2 NWh
b they most Of all require is a system
moderate duties so arranged as TO witt
draw the question as far as possibI
- completely from the arena OF polite;
contention. Their chief want is perml
nency and stability. Such an increas
" of the tariff | believe to DO necessar,
in order to meet the economical exper
ditures Of the government. Such q
increase made in The spirit OF moderu
- ton and jadicious discrimination, wouI
| have no doubt, be entirely satIsIactor
= 10 the great majority of The America
people Ia the way Of accomplishing
y, measure so salurary and so imperative
y, demanded by tho public interests, II
~ Legislative department will meet wi
NJ, n cordial co operation on the part OF Il
% Executive. This is all that the man
C]aclurer can desire, aud it would be
80 burden readily borne by The people.
~ But cannot too earnestly repeat, tn
~ in order to be beneficial It must be pc
" manent, and in order to be permanent,
-, must command general acq1iescence.
" But can such permancncy be just
hoped fer If the Tariff question be co
o' pied with that Of Distribution, rs TO viii
,,o a serious conflict of opinion exists NmO
TO- the States and the People, which emil
~ in its support a bare majority, If indie
>" there be a majority, Of the " Houses
Congress2 What permanency or stab