The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-03-26
ME- S SAGE.
10 The Senate aid House Of
Representatives. Of the United Sfatss .

Il
Notwithstanding the urgency with which have,
on more than one occasion, felt il my duty TO press
upon congress the necessity of providing the Govern
ment WIN The means of diseharging its debts, and
MAINTAINING lnvolate the public faith, the increasing
emDarrassnents of the Treasury impose upon me the
| indispensable obligation of again inviting your most
serious attention to the condition of the finances
fortunately for myself, in thus bringing this mpor-
TAM SUBJECT TO your view, for deliberate and COM
prehensiye examination of il in all il bearings and
trust may add, for final ad stment of it, to the
| common advantage OF the whole Union, am permit
ied TO approach II with perfect freedom and candor.
| AS lew Of the burdens for which provision is
CURED TO be made have been brought upon the cou-
try during my short administration Of its affairs,
have neither motive nor wish make them matter
OF crinlnaiion against any OF my predecessors. am
disposed to regard, as ] am bound to treat them as
Jncs which cannot now be undone, and deeply in
tercsng to us ALL and equally imposing upon all, the
most solemn duties And the only use | would make
OF the errors of the past, 10y careful examination
of their causes and character to avoid il possible,
the repetition of them in future. The condition of
| the country indeed, is such may well arrest the
conflict OF parties The conviction seems at length
to have made its way TO the minds of all that the
dlsproporlion between the public responsibilities and
the means provided for meeting them casual nor
transient evil. IL IS on the contrary which must
Tor some years 10 come, Notwithstanding resort TO
all reasonable rerenchments, and the constant pro-
| gress OF the country IN population and productive
power, continue to increase under existing laws UNI
less we consent To give up impair all deiences
| IN war and peace But this is a bought which | am
persuaded no patriotic mind would for a moment
entertain. Without affecting an alarm, which do
not feel, IN regard TO our foreign relations it may
safely be affirmed that they in state too critical
and involve too many momentous issues to permit
TO neglect III the least much less TO abandon entire
ly, those means of asserting rights without which
| negotiation is without dignity, and peace without
| curity.
| In the Report of the Secretary of the Treasury,
tftaIt. A.
present sesslon il is estimated that after exhausting
all the probable of the year. there will
main deficit of about Si40oO000 With a view
partly to permanent system OF revenue, and partly
to immediate relief from actual embarrassment, that
ofcer recommended, together with plan for estab-
fishing Goyernme It Exchequer some expediens of
"a more temporary character, viz the issuing of Trea
sury notes. and the extension of the time for which
the loan, authorized 10 be negotiated by the act of
the last session should be taken. Congress accord
ngly provided for issue of Treasury notes to the
amount OF So 00O,0 coo, but subject to the condition
that they should not be paid away below par No
measure connected with the last Of the two objects
above mentioned, 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
| S2,50D,00O II requires no argument to show that
such condition of the Treasury is incompatible not
! only with high state of public credit, but with any
thing approaching To efficiency in the conduct of pub
/ lie affairs II must be obvious, TO the most in
experienced minds, that, to say nothing of any par
| tcular exgency, actual or imminent, there should
he at all times in the Treasury Of great nation with
| o view TO contingencies OF ordinary occurrence
surplus at least equal in amount to the deficiency
But that deficiency, serious it would be in itself
will, compelled to say, rather be increased than
diminished, without the adoption of measures adj
eqlate to correct the evil at once. The sagnaton of
! trade and business in some degree, incident to the
arrangement Of the national 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 to come.
Under such circumstances am deeply impressed
with the necessity OF meeting the crisis with yigor
and decision which il mpcra,ivcly demands at the
hands of all entrusted with the conduct of public af
fairs The gravity of the evil calls for a remedy pro
poltioncd 10 it. No slight palliaves or occasional
expedents will give the country the relief il needs
Such measures on the contrary, viii in the end, is
now manifest To ALL too surely multiply lis embarrass-
mcnts. Relying, as am bound to do, on the Repre-
senlaves OF People rendered lllustrious among
lions, by having paid off its whole public debt shall
not shrink from tie responsibility imposed upon
by the Constitution, OF pointing out such
as VIII, IN my opinion ensure adequate relief am
| the more encouraged TO recommend the which
necessity exacts, Ivy the confidence which | have in
lis complete success. The sources OF The country
in every thing that constitutes the wealth and strength
OF nations, o abundant, The spirit of mos,
dustrous, enerpri-ng, and Intelligent People is So
energetic and elastic, that the Government Will he
without the shadow OF excuse for its delinquency, ii
the difficulties Which now pcrpex and it,
be not speedily and ellectually removed
Fron pro sent indications il is hardly doubtful that
Congress will find necessary To lay additional lurcs
imports Ia order to meet the ordinary current ex
pcnses Of the Government. ln the exercise OF
sound discrimination having reference To revenue, but
at the same time neces ariy alnrling ncilcnt,l pro-
! lection to manufacturing industry il seems equally
| probable that duties articles OF Importation
will have to be advanced above 20 per In pefo M
ny this important work of revising the taril of du-
Ties, which, in The pfesent emergency, would to
be Indispensable, | cannot too strongly recommend
the cultivat on of spirit OF mutual harmony and
cesson To which the Government self origin
and without the continued exercise of which iarrinp
and discord would universally prevail
| An additional reas for the increase of duties in
some instances beyond the rate OF 20 per cent will
lst IN lulfling the recommendations already made and
now repeated, of making adequate appropriations for
the defence Of the country
By the express provision OF tho act distributing he
proceeds OF the sales of the pubic lands among the
States It's operation is, ipSo flct1 to soon as
the rate of duties shall exceed the hints prcscr bed in
the act
In Recommending the adoption OF n'ans for disri-
butng he proceeds of the public lands among the
States, al the commencement OF tie last session of
Congress such distribution was urged by arguments
and considerations which appeared 10 then and
appear to me now, ol great weight, aud laced
the condition that II should moi render any
departure from the act of 1893 tits with sincere re-
from that act becau e | am well aware that expecta-
tons, Justly entertained by OF the States will be
disappointed by any occurrence which shall withhold
from them the proceeds Of the lands. But the condi-
ton plainly expressed IN the Message, and was
inserted in terms equally plain the law itself and
| amidst the embarrassments which surround the
country all sides and beset both the General and
the State Governments, it appears to me that the OBJ
jec's first and highest in Import ance, to establish
the credit OF this Government and to place it dura-
BILE foundations, and thus afford the most efcctual
support to the credit of the States, equal at least
what it would receive from direct distribution of
| the proceeds Of the sales of The public lands.
| When the Distribution law was passed, there was
reason to anticipate that there soon would be real
surplusto distribute. On that assumption It was in
my opinion, wise, just, and benelccnt measure.