The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1843-12-15

Conu, so thal II no longer dhsNcISu AHC
purposes Of exchange OF barter, aud It's
ultimate substitution by a sound metallic
and paper circulation combined, has been
attended by diminished imporIatlons, ard
consequent falling of in the Icrenuc.--
This has induced Congress, from 81, to
resort to the cXpcdIent Of ISSUING lrcasu.
nv notes, aud finally Of funding them, III
order to supply Deficiencies. ! cannot,
however, withhold the remark that II Is III
no way compatible with the dignity OF the
Government that public debt should DO
created in time Of peace 10 meet the cur
rent expenses of the Government, or that
temporary expedlcnts should be resoried to
an hour longer than IT is possible TO avoid
them. The Executive can do no more
than apply the means which Congress pIa-
ces in rs hands for the support OF Govern
ment; and happily for the good OF the
country and for the preservation OF ITS lib
critics, ii possesses no power to levy exac-
tions on tho people, or 10 force from them
contributions to the public revenue in any
form. Ii can only recommend such mea-
surcs as may, in lis opinion, be called tot
BY the wants of the public service, to Con.
gress, with whom alone rests the power 10
lay 1nl collect taxes, duties, impos,s and
excuses" This duty has upon several &C
casions heretofore been performed. The
presen, coalition Of things gives datter.
ING IRON C that trade aud commerce are
rapidly rev. ing, and, fortunately for the
country, the sources of revenue have only
! 10 be opened, in order 10 prove abundant.
| While We can anticipate no considerable
increase IN the proceeds Of the sales Of the
public lands for reasons perfectly obvious
10 all, for several years 10 come, yet the
public lands cannot otherwise than be re-
garded as The foundation of the public Gre
dit. With so large body of the mist
fertile lands in the world under the control
aud at the disposal of the Government, no
one can reasonably doub, the entire ability
Of the Government to meet lis engage
ments under every emergency. In sea.
sons of trials aud difficulty similar TO those
through which we arc passing, the capital.
isl makes his investment IN The Govern.
megt stocks with the most assured conf.
dcnco Of Ultimate reimbursement and
whatever may be said III period OF great
financial prosperity such a. existed for
some years after | ~33, | should regard Il
rs suicidal IN a season Of financial cmbar.
, rassmCnt, either 10 ALLEVIATE the lands them.
selves, or the proceeds arising from their
sales. The first and paramount duty Of
those to whom may be entrusted the adj
mlnlstraiion of public aiiairs Is 10 guard
the public credit. In rc.ostabishiug the
credit Of this central Government, The rea.
diest and most obvious mode is taken 10
restore the credit or tho States. The ex.
tremities can only DO made sound by pro.
ducing healthy action in the Central Co
Nernmeut, and tic history Of the present
DAY fully establishes the fact, that an IN.
crease IN the value Of stoc Ks Of this Gov.
ernment will in a majority Of instances,
be attended hg an increase 10 the value Of
The stocks 81 lilo States. Ii should, there
fore, be q matter Of general csugrui,'a'on
that amidst all the cmbarrassmcnts arising
from surrounding circumstances, The Gre
tlt Of the Government should hive been so
iuly restored that It has been enabled to
effect loan Of seven millions Of dollars TO
redeem that amount Of Treasury notes Oh
terms more favorable lhon any that have
been offered for many years. And the six
per cent. stock which was created IL : Il.
has advanced 10 the hands OF the holders
70 nearly twenty per cent. above is par
value. Tho confidence Of The people IN
the integrity Of their Government has thus
been slgnaly manifested. These opiuiou,
relative to the public lands do not II any
manner conflict wnh the observance OF the
mos; llbcra! policy towards those OF our
icllow-clii2cns who press forward into the
wilderness and arc The pioneers 10 the work
Of rs reclamation. Ia securing to ell such
their rights ii prescription, the Govern.
ment pesiarUs Lat an act Of .ctrlhutsc
justice Tor sullifiugs encountered and hard.
ships endured, and finds ample rcmnncra.
ton IN the comforts which rs policy cn.
surts and lie happiness which It lmparts.
Should a revision of the tariff, with n
yIcV 10 revenue, become necessary 10 the
estimation If Congress, | doubt not you
Will approach the sutloot with a iusl and
enlightened regard to the interests Of the
whole Union. The principles aud yiows
which ! have heretofore had occasion to
submit, remain unchanged. IL can, how.
ever, never be too often repeated, that the
prominent interest Of every mportun, pur.
suit Of life, requires for success, pernia.
ncncy and stability IN legislation. These
can be attained by adopting as the basis
Of action, moderation 10 all things, which
Is as lndispensabIy necessary to secure the
harmonious action Of the political as Of the
animal system. Ia our political organiza.
ton, no one section Of the country should
desire TO have its supposed interests ad.
ranced at the sacrifice Of all others but
union, being the great interests, equally
precious to all, should be fostercd aud sus.
tanned by mutual concessions and tho cult.