The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1842-04-07
PRESIDENTS MESSAGE.
To the Ssndtc and House of Representatives.,
of tAs iUmted States:

have. on more than one occasion, ielt u my
duty TO press upon Congress the necessity of
providing The Government with the means Of
dischargIng is debts and ma,nta mug inVloia,e
The public faith, the increasing embarrassment
Of the Treasury, impose upon me The ind 81
psnsabe obligation Uf again inviting your most
serious attention TO the condition OF the fnan
ces. Fortunately for myself, in thus bringing
thIs important subject to your view, for de-
itberate and comprehensive examination of II
in all its bearings, aud Uust3l may add, for
final adiGS ment of It, TO the common adVania-
ges of the whole Unon, am permitted to a -
proach it with perfect freedom and candor.
As few of Ihe burhens for which prov sion
is now required to be made, have been brought
upon the coUairy during my short administra>
ton Of lts affairs, have neither motive nor
wish 10 make them a matter OF elimination
against any of my predecessors. ] am dis
posed 10 regard, as am bound 10 treat them
as facts, which cannot now be undone. and as
deeply interesting TO us all, and equally impo-
sing upon all, The most solemn duties. And
the only case would make Of The errots of
the past, is, by careful examination Of their
causes and character, 10 avoid, if possible, the
repetition of them 10 future. The condition of
the country, indeed, is such as may well arrest
the conflict of parties. The conviction seems
al length 10 have made its way to the minds Of
all, that the dIsprOportion between the public
responsibilities, and transient evil II is on
the contrary, one which must, for some years
to come Notwithstanding reeorl 10 all reaso-
nable reIrenchmenls, and tho constant prog
ress OF the country, in population and produce
ing laws, unless we consent 10 give up or i'm
pair all our defences in war or peace. But this
s thought which am persuaded no patriot
ic mind would for a moment entertain. With
out affecting an alarm, which | do not feel,
in regard 10 our foreign relations, i, may safe
y be affirmed, that they are in state Too cril~
lcsl and Involve TOO many momenious issues,
10 neglect in The least, much less TO abandon
entirely, these means of asserting our rights,
without which. negotiation is without dignity,
and peace without security.
10 the Report OF the Secretary Of the Trea-
ury, submitted to Congress at the commence"
ment of the present session, it is estimated,
that after exhausIiDg all the probable resour-
ces OF The year, there will remain a deficit of
$l4,OOO. With view, partly to permanent
system Of revenue, and partly to immediate re-
lief from actual embarrassment, that officer re-
COMMENCED, together with a plan for estab-
fishing Government Exchequer, some ex-
pedients Of more temporary character, viz:
the issuing of Treasury notes. and the exten-
sion of the time for which the loan, autholz.
ed TO be negotiated by The act Of the last ses-
sion should be taken. Congress accordingly
provided for an issue of Treasury notes 10
The amount of $4,000, 900, but subject 10 The
condition that they should not be paid away
below par No measure connected with the
last of The two objects above mentioned, was
introduced until recently into The House Of
Representatives. Should The Loan Bill now
pending before that body pass into law for
its present amount, there would still remain
deficit of 81. 100000 1t requires no srgu-
ment TO show 'hat such condition of the
Treasury is incompatible not only with high
state of public credit, but with any thing sp'
proaching to efficiency 10 the conduct of pub
lie affairs. Ii must be obvious, even to the
most experienced minds, that to say nothing
Of any particular exgency, actual or immn.
ent, there should be al all times in the Treas-
ury Of great nation, with a view to conlin-
genctes ol ordinary occurrence, surplus at
least equal in amount to the deficiency. But
that deficiency, serious as il would be in itself
will, am compelled TO say, rather be ncres,
sed Than diminished, without the adoption of
measures adequate 10 correct the evil al once.
The slagnalion of trade and business, in some
degree. Incidentto the arrangement of The na-
tiona finances and the state of the revenue
laws, holds out but little in prospect of relief,
in the ordinary course Of things, for some time
10 come.
Under such circumstances, am deeply i'm.
pressed with ths necessyaof meeting the cr-
els with vgor and decision which ii impera-
lively demands at the hands Of all entrusted
with The conduc, Of public affairs. The gra-
vty oflhe evil calls for remedy proportional
to it, No slight pa liatives, or occasional ex-
pedenis. will give the country The relief it
needs. Such measures on the contrary, will
10 the end, as is now manifest 10 all. too surely
multiply lis embarrassmen,s. Relying, rs /
am bound 10 do, on The Representatives of
People rendered illustrious among nations, by
having paid off its whole public debt,I shall
not thrink from responsibility imposed upon
me by the Constitution, Of pointing out such
measures as will, in my opinion, ensure ade-
quate relief. j am the more encouraged to
recommend The course which necessity exacts
by the confidence which Rave in tie complete
success. The resources Of the country, in G..
very hing that constitutes the wealth and