Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1842-08-24
v ( o..

president Tyler has vetoed the Iarltt
Bill, the passage of which was mentioned
in our paper Of last week. We publish on
~ part of the message-sufcient how
ever to define the position of the President
relative to this measure. The President
after recapitulating at length the history
of legislation connected with the passage
OF the Distribution act proceeds TO enter the
following objections to the Tariff Bill.
4. The bill untes two subjects, which,
so lar from any affinity TO one another,
are wholly homogeneous in ,hcir character.
1t is both revenue and an appropriation
bill. 1t thus imposes on the Executive,
in the frst place, the necessity of either
approving that which he would reject, or
rejecting that which he might otherwise
approve This is species of constrant
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 in lis present form. The union
of subjects wholly dissmilar in their charac-
ter in the same bill, if it grew into a prac-
tee, would not fail to lead TO consequences
destructive Of all wise and conscientious
legislation. Various measures, each a
grecable only 10 small minority, might,
by being thus united, and the more the grea-
ter chance Of success. lead to the passing
of laws, Of which no single provision could,
if standing alone, command majority in
It's favor.
,. While the Treasury is in a state Of
extreme embarrassment, requiring every
dollar which il can make available and
when the Government has not only TO lay
additional taxes, but to borrow money to
meet pressing demands, the bill proposes
to give away fruitful source Of revenue;
which is the same thing as raising money
by loan and taxation-not TO meet the
wants Of the Government, but for dstribu-
ton, proceeding VIII oh | must regard rs
highly lmpoIuic, if not unconstitutional.
A brief review of the present condition
OF the public finances will serve 10 illustrate
the true condition Of the Treasury, and
exhibit its actual necessities
On sio 9Th of August. Friday last,) there was in
re Treasury, IN round numbers S2,l50000
II ceSsary TO be retained 10 meet
trust funds 100000
Interest on the publicdcbt duoin
40 redeem Treasury notes and
pay the interest 100000
Land Distribution under the act
oithc 18th September, 1871 100000
- llS0 900
Leaving an available amount Of $4,000
The Navy Department has drawn re-
gsjsitionS ON the Treasury, at that time, TO
meet debts actually due, among which are
bills under protcs; for SI,4ll,006, thus
leaving an actual deficit Of Sl44 eco.
There was on hand about 500, 900 Of
unissucd Treasury notes, assisted by the
accruing reyenuc, amounting to about
&l5e,000 per week, exclusive Of receipts
on unpaid bonds, TO meet acquisitions for
the Army, and the demands of the civil
list.
The withdrawal Of the sum Of $4,000 |
TO be distributed among the States, so soon
rs the statement and accounts can be made
- and completed, bv virtue Of the pro-
Is u;ss ur tlc act ut the 4th September
last, OF Which merely moiety goes to a
few States and only about 1888, 600 is TO
be divided among all the States, while it
adds materially to tive ombarrassmcntS Of
the Treasury, affords to the States no deci- |
d.d relief
NO immediate relief from this state Of
NOS. deeply be deplored. the Government
would be reconcilcd to the negotiations of
loans already authorized by law, at a rate
of discount ruinouS in itself, and calculated
most seriously 10 affect the public credit
SO great is the depression of trade, that
even if the present bill were to become !
law, and prove to be productive, some une /
would capsc before sufficient supplies
would flow into the Treasury, while, in the
,noont;n,o, tts ornba IRA 6 rnonts world be
continually augmented by the semi-annual
distribution OF the land proceeds.
Indeed, there is but too much ground to
opprchend THAI even if this bill were per-
mjtted to become a law, alternating as il
does Ne proceeds of the land sales, an ac-
tuaI deficit in the Treasury would occur,
which would more than probably involve
the necessity of resort 10 direct taxa
ton.
Let il be also remarked, that $5,500,-
600 of the public debt becomes redscmable
IN about two years and a half. which, at
Any sacrifice, must be met, while the TrCu-
sury is always liable to demands for the
payment Of outstanding Treasury notes.
such is the gloomy picture which our flu
nnctai department now presents, and which
calls for the exercise Of rigid economy
in the public expenditures, and the render
ing available all the means within the con-
troll Of The Government. most respect
fully submit whether this 5 a time 10 give
away the proceeds Of the land sales, when
the pubic lands constitute fund which, of
all others, may BE made most useful in
sustaining the public crcdt. Can the Gov
crnmcnt be generous and muhihcont to
others when every dollar it can command
Is necessary to supply its own wants!
And if Congress would not hesitate to sui
Ter the provisions Of the act Of lth Stptem-