Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-07-25

this law is also called for "by the state Of publ'
credit and finances"
In this period OF common and universal peeunia
~ depression and distress, which, let me ask mos
'ondy calls for the benefit Of the land fund "th'
state and condition OF the public credit and finances
| Of the General Government. or that OF the ssvera
State governmental The whole debt Of the Gem
eral Government is less than twenty ilions ofdo-
lars while those Of the States are estimated at TIVE
hundred millions, The Government OF the united
| Staicsis armed with the whole commercial power
surrendered by the States voluntarily. IL may lay
duties. and collect them, 10 any amount which ITS
| necessities require. All the revenues dcriSable
| from forcign commerce flow into its Treasury. IL
nav borrow money on the credit Of the nator. We
have bu; to speak the word. and the deot IS pain.
How is it with the Siatosi They have but one
mode OF raising moncy-that OF direct taxes, levied
and collected from the property OF their people
These State debts have been mainly incurred in
constructing public improvements. which now re-
main for the common aud benefit OF all the peo-
pie OF the United States IL is the amount OF State
Indebtedness that at this moment affects the condi-
ton OF the country moro than all other causes
Whatever tends to lessen this evil. tends TO restore
the general prosperity. Money and credit difuscd
TO he States, Is as etlectua to the restoration OF
sound healthy condition Of the finances and credit
OF the General Government, rs II placed IN its own
treasury. The people Of the States are the people
Of the UnIen Staies-wha affects them, affects the
nation.
And il oven small increase OF the duties on i'm.
ports should lie rendered necessary by a iisiribu
ton Of the proceeds OF the public lands, where is
the evil which will ensue7 IL is in that case di
minishing of the amount OF direct taxes the peo-
pie by the State Government which every body
must feel and none can escape from, and a cores
pondng augmentation of the dmeettaSes in the form
oi'mport on foreign goods, which none need pay,
who do not choose.
The Presidents next groundfor n suspension OF
the Distribution Law is that 1t is called FOR by the
critical posture OF our various Foreign Relations"
This IS the alarm bell which is rung upon every oc
caslon. II the Secretary of the Navy urges upon
us the enlargement OF our maritime force to Zone
half the amount of the largest naval power in the
world" the reason assigned is, "the critical posture
of our foreign affairs" If unusually large appro-
prations for the army required, the same cause
Is assigned. When we attemptto lessen the num-
Der OF our diplomatic agents abroad, is objected
TO on the ground that our foreign affairs are IN a
critical condition. In word, this "ercal posture
OF our foreign relations" is "thc man OF all work.
OF this Administration. Now, for some months past,
the harsh notes OF war seemed to have died away
the dark specks on our horizon had disappeared and
the thoughts OF all seemed turned on peace. The
gentleman from Pennsylvania, (Mr C. J. InsersolO
who sometime ago, like Sempronus, had voice
which twas still for war;" said the other day, in
rather complaining mood that It should be Sc that
all prospect of war had passed otf-that Isord Ash
burton had, in some way other, conttved to dis.
pei all thoughts OF war, and 10 infuse among US
one universal sentiment OF peace and tranquility.
ms state oil things, trus', will continue. or
one thing am very sure, that il we are likely to
get into war with any body, the Land Fund
cannot he looked TO as n source from which we are
TO derive any great AID to the Treasury. IL is in
times OF peace and quiet that emigration goes on,
and the sales OF public lands are fruitful.
But "Lbove ali" is the suspension of the land hill
required "by that most sacrei OF all duties, public
faith"
When, how, by whom and to whom has the pub
l'c faith been pledged Whence does il derive its
sacred character Have VIC gagged our honor TO
foreign government, and are We now about 10
disgrace ourselves in the eyes of the whole civilized
world, by violation of our most solemn engage
menil Such would appear to be our criticil po-
sition from the language OF the message.
TO BE Continued