The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1843-02-28

Il
remaining revenue Is derived from the foreign com.
ueice o. The country, and that. such heavy du.
os are Imposed, that il 10 sinking under the burden
Inc Imports Of tho last quarter il is estimated will
&c less Than zine mill'ors Of dolsrsa falling off
ABOUT t"o-thrds, compared with what II ought TO be
securing 20 inc estimate made at the last session by
those who imposed the burden But, as great as !,
Is, the falling on will understand be still greater
rom present indications, during the present quarter
and yell IN the face Of all this We are
money As Pro'usey, and projecting schemes Of expep.
lures as houshtlessy, If the treasury were fun 10
o'e'no"hg' 30 great Is the indifference, that
even The Frustrated condition of tho treasury
no attention, Ii is scarcely mentioned or Alluded ~
NO one seems to care any thing about IT, Not an
inquiry Is made how the of supplying the ac-
hno"ied8ed dehcit to meet the current demands ON
.ne treasury or TO cover the extraordinary expeDdi-
lures which will be incurred by this measure. should
II DC adopted, is to be- raised would ask its adyo-
caes' 10 you propose to borrow the funds necessary
Tor It's execution Our credit is already greatly impair
,and our debt rapidly increasing; and are you willing
Bill iurter 10 impair the one and add 10 the increase
vi 'he oiher' DO you propose to raise them by in
creasing the duties Can you hope to derive addi-
uohai revenue from such increase, when the duties
already 50 hish as not only to paralyze the
merce agriculture, and industry Of the country but
10 diminish, TO AN alarming extent, the revenue
from the Imports Are you prepared to Law \ duty
on tea and coffee, and other free articles Ii so.
speak out, and tell your constituents plainly tina, such
is your intention; that money must be paid and that
no other source OF revenue is left, which be re-
leo on, out a tax on them. II must come to that
and before we incur the expense, it is but fair that
our constituents should know the consequence.
But we are told the expense will be small-not ex-
ceeding one or two hundred thousand dollars. Let
us not be deceived. What this bill approprates is
out the entering wedge. Let il pass, and one can
tell what It will cost. II will depend on crcum-
stances. Under the most favorable on the supposi.
ton that there viii be resistance on the part OF
Great Britain, 1t would amount to millions but il
she should resist and should make il question OF
force, hazard nothing in saying it would subject the
country to heavier expenditures, and expose it to
greater danger, than any measure which has ever re.
ceved the sanction of Congress.
Many and great are the acts Of folly which we
nave committed IN the management of our finances
IN the last fourteen or fifteen years. We doubled
our revenue when our expenditures were on the
eve oil being reduced one-half by the discharge OF
the public debt. We reversed that act of ioliy
and doubled our expenditures, when the revenn.
was In the course of reduction under the compro-
mise act When the joint effects OF the operation
OF the two had exhausted the treasury and left the
Government without adequate means to meet cur
rent demands, by an aptitude in folly, unexampled
we selected that as the fit moment TO dvest the
Government OF the revenue from the public do
man, and to place the entire burden of supporting
II on the commerce Of the country. And then, as il
10 consummate the WHOLE passed an act at the
close OF The last session. which bids fair to cripple e
ectuay this, our only remaining source of re ,enue
And now what are we doing Profling by the dis
astrous consequences oil past mismanagementi Quite
the reverse; committing, if possible, greater and
more dangerous acts of folly than ever When the
Government and the country are lying PROSTATE by
this long series Of errors and mismanagement; when
the public credit is deeply impaired When the people
and The States are overwhelmed by debt, and need
al fhaI
embarrassments,- that is the moment We select to
bring forward measure which, on the most favora-
Bile suppositlon If adopted, cannot fail subject the
Government to very heavy expenditures, even should
events take the most favorable turn and may-no
That Is not strong enough-would probably subject il
10 greater than 1t ever has heretofore been. Where
would The Government hDd resources to meet them
Not in its credit, for that would be extinct Not in
the impos for that is already overwhelmed Not in
internal taxes the indebted condition of the States
forbids that More than half of the States of the
Union are in debt; many deepIy-and several even
beyond their means OF payment They require every
cent Of the surplus means of their citizens which
can be reached by taxes, 10 meet their own debts
Under such state Of things, this Government could
not impose internal taxes TO any considerable amount
without bankruptng the indebted States or crushing
their citizens. What would follow, should the Gov.
eminent be compelled, in consequence of this mea-
sure, to resort to such taxes shall not undertake
as great as they are, which followed the preceding
acts Of folly would be as nothing compared 10 the
Overwhelming calamitics which would follow this
Our system might sink under the shock.
IT, Senator'S you would hearken TO the voice Of one
who has some experience and other desire but to
see the country free and prosperous, would say,
Direct your eyes 10 the finances There at present.
the danger lies. Restore without delay the equili-
Drum between revenue and expenditures which has
done so much to destroy our credit and derange the
whole fabric OF the Government III th.t should not
be done, the Government and country will be in
volved ere long, IN overwhelming difficulties. Che
rlsh the revenue from the lands and the imports.
They are our legitimate sources Of revenue. When
the period arrises-come when ii may-that this
Government will be compelled TO resort TO internal
taxes Tor IFS support in time Of peace, il will mark
one OF the most difficult and dangerous stages through
Which II is destined 10 pass II II should be a period
like the presen-when the States are deeply IN debt
and need all their internal resources TO meet Their
own engagements-it may prove fatal and yet il
would seem a II systematic efforts are and have
BEEN making for some time 10 bring il about at this
critical and dangerous period. To this all our fnan.
cial measures tend,-the giving away the pubic
lands the crushing OF the customs by nigh protect
i've, and IN many Instances, prohibiory duties the
adoption Of hazardous and expensive measures of
policy like the present; and the creation of pub
lie debt, without effort to reduce the expepdi-
lures. How IT Is all 10 end, lime only can dis
close.
But, IL our finances were In ever so nourishing a
state II the political condition Of the country were
rs strong as It could be made by an administration
standing at the head ola powerful dominant pa rty
and # our population had reached the point where
we could suco sslully assert and maintain our claim
against the adverse claim Of Great Britain, there
would still remain decisive objection TO this bill
The mode IN which Il proposes do is indefensi-
BILE. 1--we are dIsPleased with The existing arrange
ment, which leaves the Territory free and onon 20 H.
citizens and subjects ofihe two countries II we are
OF the opinion operates practically TO our disadyan-
tagc, or that the time has arrived when we ought TO
assert and carry into effect our claim of exclusive So
vereigny over the territory, the Treaty provides ex
pressly Tor the case II authorizes either party by
giving years notice, TO terminate its existence
whenever Il peases, and without giving reasons =
Why has not this bill conformed to this express and
plain provision Why should II undertake to assert
our exclusive ownership 10 the whole territory ia