Sentinel of the valley. [volume] (Woodstock, Va) 1841-1848, 1843-06-15

that Lord Aberdeen's note was dated.
Mr.. Adams is reported as having de-
clared in his place in Congress, that un-
less the General Government made some
provision for the payment of the debts Of
the delinquent States, Great Britain
| would consider the refusal a sufficient
easms BELL. Sentiments like these are
4 productive of mischievous consequences
on this side Of the Atlantic. will not
| say that they would have had any influ.
ence upon the British Cabinet, before its
decision was given, had they reachen it
they have already questions enough Of a
legitimate character to settle with us.
and there IS No disposition unnecessarily
to create new ones; but they convey the
belief that the Nation can constitution
ally assume those debts, and that it is
ITS imperative duty to do SO. Imnres-
SONS like these affect our reputation Sc.
nously abroad. and occasion the i'll ma
tured remarks Of '.SwindIers and Repu
! dlators," even in France and Germany.
nr. Adams having served a Presidential
term, undue weight is attached to the
remarks which fall from him. In veiw
Of this matter, / most sincerely regret
that the Resolutions OF Mr.. Riyes in the
| Senate should not have been passed unan-
lmous'y The nation owesit to its high
character to make full expression of the
power conferred upon it by the Consti-
tuition; Tor, although this is perfectly I'M
derstood III well-informed circles in Eu-
rope, yet a loop should not be left at
| home Or abroad to chang doubts up
on, vita regard to ASSUMPTION +:
which, Of all the new-fansIed doctrines
with which the country has been rife,
Tor the last few years. is the most start
ling; always excepting abolition! WHAT
| Compel the people of Connecticut, Rhode
Island, New Hampshire, Vermont, New
Jersey, Delaware, and North Carolina.
to pay the public debt of the great State
OF Pennsylvania? A State nearly as
large and as wealthy as the whole of
them taken together! To make these
states tax their citizens to pay for mon.
ey borrowed by Mississippi, Illinois, In
diana, Ohio, Michigan, Pennsylvania,
.and' Maryland, whereby their property
was enhanced in value ten, twenty. and
thirty per cent! This would indeed be
me climax OF national des2otism. The
j. oyernment that could have the ipius-
ise "; ..!cs.n,ln1snmmatn measure Of this
KIND, IT there we.d{ao collT ll.yt;;.-sk..: I'M
pediments, Wossid1merit the frowns Of
the Almighty; and under them, sink in
10 insignihcance. 1t would be more on.
( presslve IN its character-r,ore faerat
IN It's violation of individual rights. taan
the Stamp Act, and all the other eriey-
! ances OF which our fathers complained
| when they shook off the yoke of bondage
lhe -assumptionists propose, if Re-
collect correctly, to issue 200 MILLIONS of
bonds, to be divided among The States.
bearing an annual interest Of 8 per cent.
In the very outset, disposition is mani.
Tested to make the General Government
broker, or to put its credit at premi
um OF from p to 3 per cent. over the
States. 1t is urged, that the creditors
OF the States wovld aci1Angzy accept then,
at these rates. This is highly probable,
but, at the same time, it would place a
stain upon our National character hicl
: would remain forever afterwards. iii,
has the power to issue them at three pei
centum, it has the power to issue them
bearing the same interest that the States
4 contracted to pay. Less than this, ii
could not, without making itself con.
temptible shaver, think of doing. What
: certainty Is there, that the State to which
they are issued would appropriate them
to the object? Michigan objects to the
payment Of a portion Of her Liabilities,
and might apply the money to other pur.
poses. Illinois has large quantity Of
unfinished canal, ard stupentlous rail.
, road, in embryo, from Galena to Cairo.
Might she not use herspart of the Ma
tlonal Bonds for the competition and con.
struction of these obiectse She would
want to control them-as her citizens
have to be taxed to meet them as the
mature; and, if she misapplied them,
:, they would have to be retired by the U
s., as though she had acted in good faith
1 The project is SO perfectly absurd-so
utterly mpracticable; that its discussion
is utterly useless. In order that Penn.
F, sylvania may be enabled to get out Of
her difficulties, tits kindly proposed Ia
lessen her taxes. and increase Della.
wares, in consideration of which, bonds
are to be issued to her for which she has
not the slightest Use.
In the depressed condition oftrade all
: over the world, it is wholly impossible
to raise more than sufficient amount
: from duties on imports, to meet the cur
: rent expenses of the Government, how.
ever economically administered, even
aided BY the proceeds from the sales Of
: the public lands. Whether for protec.
ton, Or revenue merely. no Tariff thai
: can be enacted will accomplish more
than this. We have entered upon q
: new era. The people are producing
E They are not buying broadelotfs, and
silks, and French fripperies, a. thought
lessly as they did year or two ago