Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1842-04-05
Message from the President,

Notwithstanding the urgency with which have
on more than one occasion felt it my duty to press
upon Congress the necessity of providing the Gov
eminent with the means of dischargng its debts
and maintaining nviolate the public faith, the in
creasing embarrassments of the Treasury impose
upon-me the indispensable obligation of again in
viting your attention to the condition of the inan-
ces. Fortunately for myself in thus bringing this
important subject to your view, for deliberate
and comprehensive examination in all its bearings
and trust may add, for final adjustment of it,
to the common advantage of the whole Union |
am permitted to approach it with perfect freedom
and candor. AS few ofthc burdens for which pro-
vision is now required to be made have been
brought upon the country during my short admin
istraton of its affairs, | have neither motive nor
wish to make them a matter of elimination against
any of my predecessors | am disposed to regard
as | am bound to treat them, as facts which can
not now be undone and as deeply Interesting to
us all, and equally imposing upon all, the most
solemn duties and the only use would make of
the errors OF the past Isl by careful examination of
their causes and character, avoid if possible the
repetition of them in fntuYe.
The condition of the country, indeed, is such as
may well arrest the conflict of parties. The con-
viction seems at length to have made its way to the
minds ofall, that the disproporton between the pub
lie responsibilities and the means provided for
IUeIu, is no CdSudI HOT transient evil. IL
is, on the contrary, one which, for some years to
come, notwithstanding a resort to all reasonable
retrenchments, and the constant progress of the
country in the country in population and produc-
tive power, must continue to increase under exist
ing laws, unless we consent to give up or impair
all our defences in war and IN peace. But this
is thought which, am persuaded, no patriotic
mind would for a moment entertain. Without af
fectting 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 us to neglect in the
least much less to abandon entirely, those means
of asserting our rights without which negotiation
is without dignity and peace without security
In the report of the Secretary of the Treasury,
submitted to Congress at the commencement of the
present session, it is estimated that after exhaust
ing all the probable resources of the year, there
will remain a deficit of S14,000,OO0 With a
view partly to permanent system of revenue and
partly to immediate relief from embarrassment
that officer recommended, together with plan for
establishing Government Exchequer, some ex-
pedients OF more temporary character, viz the
issuing of Treasury notes, and the extension ofthe
time for which the loan authorised to be negota-
ted by the act Of the last session should be taken
Congress accordingly provided for an issue of
Treasury notes to the amount of S500O0OO but
away below par.
No measure connected with the last of the two
objects above mentioned was introduced until re-
Gently into the House of Representatives. Should
the loan BILL now pending before that body pass in
to law, for its present amount there would still
remain deficit of Sb2500,00O 1t requires no ar
gument to show that such a condition of the Trea-
sury is compatible not only with high state of
public credit but with any thing approaching to
efficiency IN the conduct public affairs 1t must
be obvious even TO the most inexperienced minds,
that to say nothing of any particular exgencyac-
tual or imminent, there should be at all times in
the Treasury of great nation, with view to
contingencies of ordinary occurrences. surplus at
least equal in amount to the above deficiency But
that deficiency, serious as it would be in ITSELF will
l am compelled to say, rather be increased than
diminished without the adoption OF measures ade-
quate to correct the evil at once The sagnation
OF trade and business, in some degree incident to
the arrangement of the national finances, and the
state of the revenue laws hold out but little pros
pect Of relief in the ordinary course of things
for some time to come.
Under such circumstances, am deeply impress
sed with the necessity of meeting the crisis with
vigor and decision which it imreratively demands
at the hands of all entrusted with the conduct of
public affairs The gravity of the evil calls for
"
or occasional expedients will give the country the
relief it needs. Such measures, on the contrary
will in the end, as is now manifest to ALL too sure
ly multiply its endorsements Replying, as
am bound to do, on the Representatives of people
rendered llustrious among nations by having paid
otfits whole debt, l shall not shrink from the re-
sponsibility imposed upon me by the Constitution
OF pointing out such measures as will IN my opn-
ion ensure adequate relief l am the more encour-
aged to recommend the course which necessity ex-
acts, by the confidence. which have in its COM
plete success, The resources of the country, in
every thing that constitutes the wealth and strength
Of nations, are so abundant-the spirit ofthe most
Industrious, enterprisng and intelligent people is
SO energetic and elastic, that the Government will
be without the shodow of excuse for its Delinquent
cy, if the difficulties which now embarrass it be
not speedily and effectually removed. i
From the present indications it is hardly doubt
full that Congress will find it necessary 10 lay add
tional duties on imports in order to meet the ord
nary currentexpenses of the Government In the
exercise ola sound discrimination, having refer
ence to revenue, but at the same time necessarily