Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-07-16

limit es,ahli.bed a. The maximum by the Compro
m zee oct. H. within that limit, you can raise rev
etue enough to supply the wants OF ths uoveru-
| a ent then, for the sake OF settling ds'utoine
| question let the proceeds OF the public lands, (no
logger wanted, in that case. Tor national usesl be
turaed over, upon principles oil just apportloumsn
to the use OF the States But II II should be 10 md
that revenue enough for the wants OF the Govern
men cannot be raised within that limit-if, for any
purpose, higher duties than 20 per cent. us Fixed
by the Compromise act shall 10 imposed, then the
Il public lands, as heretofore must remain dcyosdto
the general uses OF tho Union, and their proceeds
come into the National Treasury, to operate m
boiement OF the burdens imposed for the suppot,
Of the Government, TO diminish, TO the extent OF
their amount. the additional taxation called Tor 10
| aid IN keeping down the accumulation ola new
| natsnal debt. and TO avert the necessity ofare-
curronce TO those onerous impositons on the great
| producing and consuming classes which, by the an
cry conflict they excited, had well nigh. on recent
| occasion, brought our glorious Union to the brink
| OF dissolution.
| These were the high considerations which led to
the adjustment contained in the ptoviso To the Dis.
iribuiion act In that adjustment. faithfully exc
cuted, believe a large majority of the people OF
this country. embracing men OF all parties, have
| ever been disposed cheertuly 10 acquiesce. But
now, when every body sees and admits tina, duties
! will be imposed far exceeding the 20 per cent limit
| OF the Compromise, an attempt Is TO be made TO
carry out, rsekessly, the distribution Of the pro-
ceods OF the public lands among tho States IN utter
disregard OF the fundamental principle on which the
| act OF the last session was passed, And in what
condition OF the public finances is it thus proposed
10 deprive the Treasury OF one 81 lis most precious
and valuable resouTeesl In n condition oi exhaus-
tion, embarrassment and distress, such it has not
known sinee-l had almost said the close Of the Re
vouuonary war-but certainly, the termination 81
the last with England. The honorable Chair
man Oft COMMITTEES of Finance (Mr Evans.l has
told US that with the aid of the bill before
US, and the new Revenue till which We passed the
las, session Of Congress. VIC cannot obtain an annual
receipt OF more than Is millions OF dollars. The
amount necessary for the annual expenses OF the
Government, according to the estimate OF the homo.
rablo Chairman of the Committee OF Ways aud
Means OF the other House, (Nr Fillmore is p mil
lions OF dolarsl Hero, then, is round deficiency
OF i2 millions Of dollars. How is il to be me, D
Let the tell my honorable friend at the head OF the
Committee OF Finance that, with all his ocknow eds-
ell acumen, and fertility OF resource, he will lie
puzz cd 10 meet by any ad1ti nal increase Of du
ties, no mater how high, (or after all, this IS but
hnlie resouree) and hemay yet hnd himself reduced 10
the notifying necessity of making his election be-
tween tho land fund, and resort to direct taxa
tIOn
With this wide GAP between the curren, revenue
, and expenditures Of the Government We have been
driven to resort TO its credit. And how does that
stand, MIR President OF the loan OF twelve mil
lions authorized by the act Of the last session of Con
gress, You were able 10 obtain, even in 4 compare
lively easy and abundant state OF the money marker
but hye and a half millions. During the present
session, We have authorized new loan of twelve
millions, on terms more inviting to capitalists than
any respectable Government loan put into the mar
Net for the last quarter OF ceniury-benring six
per cent. interest, and having twenty years to run
how much oil that has been obtaincd3 The honora
BILE Chairman Of the Committee Of Finance can pro-
babiy tell us; know not; but Il rumor speaks truly,
only million and half, and that at n discount, Is
this, then, would respectfully ask, time when a
proposition can be seriously entertained 10y practical
statesmen to ALLEVIATE forever from its primary and
legitimate destination, the great national domain,
i hitherto, and destined again TO be, productive
source OF revenue 10 the nation, and one Of the chief
and most available supports OF its credit IT, in the
face Of all these objections it be resolved TO ds,ri-
butte the proceeds of the public lands all hazards
! 10 the States, would ask the honorable chairman
IS The Committee OF Finance, is 1t quite certain that
there will he any money IN the Treasury where t
make the distribution either on the first OF July
I. the frat Of August When the Navy Appropriation
e bili and the Army Appropriation bill, which We have
Just sent back TO the House Of Representatives shall
have passed, shTewdly suspect, Mr. President thai
A they will sweep the vaults of your Treasury clean
r. and leave no, dollar, fraction OF dollar. lC
10 answer any demand upon them. What thenl You
Is must DO what the distinguished citizen cf Kentucky
n the great champion OF Distribution, (Mr Cay,l hal
himself admitted .there is power or authority IL
n the General Government" TO do-raisc money by
= taxation, or by borrowing TO distribute among The
states. Such are the Inconsistencies aad contrAde.
ia tons into which an discriminating adhesion TO q
sr measure, which has been made ties, of party
Z Is so apt TO belray US.
e | will venture to assert Mr. President, that M
e American statesman has ever hitherto proposed 4 dis
irbuton Of the proceeds OF the public lands anon.
q the states as measure OF practical legislation un!es
there was actual or anticipated surplus in Ia.
:. Treasury. When Mr. Clay brought forward hi
proposition, IN 1892 he founded il expressly 10th
,e MS report and his speech on the consideration
'the great financial prosperity which the UnieS
Ne States then enjoyed" mo longer wanting the lam
fund for the purposes Of the General Government
81 but being absolutely embarrassed in providn!
10 against an enormous surplus in the Treasury" So
e. FaESf vshe9 ibS pls6ihRti9n law Of the las, sss
ae and within the limit Of the twenty per cen, es
" punishment by that net, would of i:self Weld 70
v venue enough 10 meet all the wants OF the Govern
: ment, and consequently, that the proceeds Of IN
& puolc lands would become a surnlus "no Ionee
T. nee9ed Tor the use, Of the Union and as such sui,
ie Jee' 70 the repartltion among the Statesp gus.
III ses'ed uy MIR Jefferson in 1905; and Iii, prinei
N PIE was most carefully guarded enforced b,
The proviso to the act declaring in express ie rnn
IL that, II any duty should he imposed exc.edips
twenty Per cent, the land fund should be brougb
mo ne treasury, and he no longer subject 10 de-
is fiouion. Honorable Senators will recoIect N,
course OF nTsumen. employed here in favor of IIr
at measure, 81 the time Of lis passage I, was susnn
nc e. exclusively on the principle to which have adj.
Ee0i anu elaborate and detailed calculations were
l. niue oy various gentlemen to show that a 20 M,
NJ rae OF duty, IS fixed by the Compromise act
y woHid yied ample revenue lOr al the purposca q,
10 1ne General Government, without the aid Of The
% proceeds Of the public lands, which would thus lie
ID Gear surplus in the Treasury that could in No
1t manner he 20 benehciay disposed Of as 10 be turn
d Cd over TO the use Of the STATES. 49,"
e lTo d. Continued