The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1843-03-03
From he NJ Y. Epening Post
THE ASSUMPTION SCHEME.

The attempt which has for some time been made
to introduce this project to public favor, has met
with poor success. Ii has been held up for more
than two years, and those men and that party which
always ready to seize upon kindred projects yet
hold back from it, Some petitions in its favor have
been laid before Congress, few Wing prints have
advocated il, some of the Wings in Congress have
gone all the length they dared in its favor and shown
disposition to take up this as they would any other
project, that might give them temporary popu-
larily But the community upon whom all public
measures depend for countenance, have not yet
manifested any particular regard for the scheme.
And the reason is, that the is uncalled for.
II any thing Of the kind was necessary, apart from
every consideration OF lis propriety, the people
would be the first to perceive and to ask for it.
Nothing like this has taken place On the contrary,
the holders of the stocks Of the States and especially
those abroad, IN the alarm occasoned by their fears
suggested this scheme, with the hope to save the
money which they had invested. Then by re-
proaches and taunis by awakening the hopes and
citing the apprehensons if possible, of the indebted
States, by assocating on their side venal men, and
those who were ready to embark in any strange pro-
ject that might afford to them short lived power it
was expected far to blind and mislead the judg-
ment OF the American people to carry the scheme
into effect. The course that has been taken to en-
force it, is not such usual in the conduct of our
legislation. When the people of this country need
any change In their affairs, the adoption of new
measures, the public sentiment unbiased and freely
spoken, should be the first 10 ask for them and all
attempts to control or influence that public senti-
ment, for selfish purposes, should meet with that
indignation which is due to the efforts of those who
seek to steal away the rights and privileges OF the
people.
The course taken by many of the indebted States,
shows that the people in them wait for no such aid
as this that they look for foreign assistance to
relieve them fiom therpryate obligations and more
than all, 1t appears that no such assistance is needed
Some Of those States that were considered in the
most backward circumstances, have taken many
steps forward The debt of Illinois has been reduced
within short time, more than two millions of dol
lars, and arrangements are making that will tend to
cancel the rest That Of Indiana, both private and
public, has been reduced million and half and the
next year it will be farther decreased. Maryland is
about TO adopt additional tax to meet her indeb,-
cdness; Michigan boasts, through the Committee OF
Finance in her Legislature that she is solvent and
that she will yet prove if. Even Pennsyy ania is
taking steps to clear away that mass Of rubbish and
rottenness that has para lied her Is this an in, lea
ton that the people Of these States have disposition
TO tolerate any such unwarrantable scheme? On the
contrary II is evident that the Indebtedness Of the
States can be cancelled only by the resources of the
country and that in other way whatever can
these resources be drawn cut so expcditously hus-
banded SO irugaly, and applied economically and
skill uly TO the liquidation Of the debts as by the
State governments which owe them.