Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1842-08-18

me necessity OI fnHkIhn tuc 'aiiu sdioS :"
vailable To the Treasury as the basis OF
vablic credit. | did not think that could
stand excused, much less justified, before
the People of the United States. nor
could reconcile it to myself TO recon
.acnd The imposition Of additional taxes
upon them. without, nj the same time, ur'
ging the employment ofall the legitimate
means of the Government towards salts
tying its warts These opinions were
communicated in advance of any detinl-
tive action of Congress ON tho suhJec'
either of the tariff or land sal cs. under a
high sense OF public duty, aud IN compli
ance with an express injunction Of the
Constitution - SO that II II collision, OK
trcmsly 10 be Deprecated as such collis
ions always are, has seemingly arisen
bet wecL the Executive aud Legislative
branches of the Government, ii has as
suredly not bcou owing to any capricious
interference, or to any want Of u PLAIN and
frank declaration of opinion on the Pari
of The former.
Congress differed in its views with
those of he Executive, as it had undoubt-
edly ri2h, 10 do, and passed Il bill vir
Iually for II time repeating the provIs"
of The act of the 4ih Of September, lS4l.
The bill was returned to The House in
which it originated, with view to pre-
vent, il possible, AL opeE disagreement OF
opinion on a point so important. took oc-
caslon to declare that regarded it as an
Indispensable prer' qulsiie to an increase
OF dIiies above 20 per cent, that the ACT
of the 4lh September should remain un'
repealed IN It's provisions. My reasons
for that opinion were deliberately SCI forth
ia the message which accompanied The re
uurn of the b II which no constitutional
majo,iIy appears TO have been found for
passing INTO il law.
The bill which is now before me pro
poses, in its 9Th section, the total repeal
of one OF the provisions in the &c, OF Sep.
tember, while il increases The duties II.
bove 30 per ccnt., directs an uncondi
uonal distribution of tho land proceeds. =
| ian therefore sui jecled n second time.
IN the period of n few days, TO the neccs
slIy Of either giving my approval to ii
measure when. in my deliberate jIdg
menl, is ia conflict wi'h great public in-
teresls, CT Of returning ii To the House IN
which it originated, with my objections
With all my anxiety Tor the pass 'ge OF
a law which would replenish the exhaus
ted Treasury. and !urnl-h sound aud
healthy encouragement 10 mechanical
Indusliy,l cauno; couscJt TO do so al the
sacrifice oflhc peace ard harmony Of the
country, aud the clcurcst convictions of
public duty.
For some Of the reasons which have
brought me to this conclusion, refer to
my previous Messages to Congress, and
briefly subj 'in The following -
/. The biIlun!.cs two subjects, which,
50 far from having any affinity TO one
another, are wholly incongruous in their
character. Ii is both revenue and M
appropriation bill 1t thus imposes Oh
The Executive, in tie first place, the ne
cessiry of either approving that which he
would reject, or rejecting that which he
might otherwise approve. This is spe
cics OF constraint To which the Judgment
Of the Executive ought not, in my opinion
to be subjected. But that is not my only
objection To the act l., ITS present form.-
The union of subjects wholly dissimiIar
IN their character in the same bill, If it
grew into a practice, would not tail TO
lead TO consequences destructive OF all
wise aud conscientious Legislation. Vari.
Das measures, each agreeable only 10
small minority, might, by being thus
united. and the more the greater chance
IF success, lead :othe passing Of laws, OF
which 10 single provision could, if stand.
ng alone, command majority in its
avor.
,. While tho Treasury is in a state Of
extreme embarrassment, requiring every
iollar which it can make available, aud
when The government has not only TO la
additional taxes, but TO borrow money To
meet pressing demands, the bill proposes
10 give away a fruitful source of revenue
which ID the same thing as raising
money BY loan and taxation--nol 10 NEE,
the wants of 2 Jvernmenl, bat Tor ds,ri.
button, "A proceeding which | must re-
gard AS highly impoi;Ic, # not uncons,i
Iutlonal.
A brief review Of the present condition
Di the public finances will serve to illus
rate the true condition of the Treasury,
ard exhibit its actual necessities.
On tho 9Th of August Friday las, ) there was
in Treasury, in round numbers, 50, $50, 900
Necessary to DO retained
TO meet trust funds S3G0,00O
Interest on public debt
due in October 10000
TO redeem Treasury
notes and pay the IN.
terest, 100000
Land distribution, under
the act of the 4th Sep
tember, 1871, 100000
si,iso,coO
leaving an available amount of 1910 900
The Navy Department had drawn re.
luisI'ions OIL the Treasury, at that time,
10 meet debts actually due, among which
are bills under protest for $I,4I4,OOO,
thus leaving an actual deficit Of S44i.0OO.
There was on hand about $1,000 Of
Treasury notes, assisted by the
accruIng revenue amounting to about
5 Sl50,O00 per week, exclusive of receipts
IN unpaid bonds, To meet acquisitions Tor