Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1843-12-15

), sopcle and thls f4fse vatIes htve dIsap peared
ami a saunder coalition Of things has been IN
troiucej. TINS transition, although lnitmatey
connected wtth the prosperity OF no country,
has nevertheless teen auen3ed with lch en-
barrassmeat to the Government, IN us financial
concerns. So lon. as The tofetgn importers could
reca4ve payment tor their cargoes 10 a currency
o greatly less value than that IN Europe, bat
fatiy available here ~ mo purchase OF oar agfi-
cultural productions. their profits being Impeas
arably augmented by the operation. tho ship
ments were large and the revenues of tho Gov
ernnent became superintendent But the change
IA the character al the circulation from a MONT
nal anj apparently real value, IN tho first stages
Of rs existence. obviously deprecated wall
he its second, 50 that II NJ longer answered
the purposes OF exchange or barter, and lis ulti>
mate substitution by sound metallic and paper
circulation combined has been attended by dlmin-
tshed Inportat:ons, and a consequent falling oil
IL tho revenue. This has induced Congress, from
1887, resort To tho expedIent Of issuing Treas
urv notes, and fiasliy of tund.ng them IN order
II supply def :ieucies. | cannot, however, with
hold me rem ark that It - IN no way compatible
with the dignity ot the Gov ernment that public
debt should be created IN time OF peace 10 meet
the currant expenses OF the Gosernmeht, or that
temporary expcdtonfs should he Tesoried 10
hour longer than It - possible IL AVOID them. The
executive eau do no more than apply tho means
which Congress places III ITS hanfs tor the sup~
port OF Government; and happily Tor The good OF
the country ana for the preservation 81 It's h0er-
ties It possesses no power to levy exactIons on
the people or to force from them contributions 20
the pnhli, revenue IN any form. 1t can only re-
rommend such measures Us may, IN us opinion,
b. called for hv the wants ot the public service,
TO Congress. with whom alone rests The power
'.av mud collect taxes, duties, lmposts, and sN.
cises" TnJs duty ms upon several occasions
heretofore been performed. Tho present condi
tion of things gives iatering promise that trade
and commerce arc rapidly restvsug. and fnrtu~
Is. f,rt a. f,n nj he
nno have only t. DO opened, IA order 10 provo
abundant.
Whllo We can anticipate considerable
crensa in the proceeds ot the sales OF the public
lands for reaseus perfectly obs aus all. for
erai years to come, YET tho public bands connot
otherwise Than be regarded as tho foundation OF
he puhiis credit. With 81 large body of the
most fertile lands IN tha world under the control
and 1t the disposal al tha Gbvernmont, no ono
r,n reasonably donbt the enuro ability Of tho
fi,yefnineut To meet lis engagc ments under
CIV emergency. r. seasons # tfIll md ddIi ,ui-
~ similar To those through VIII h We arc passing
+ the capitalist makes hIs Investment in the Cow
ornm"n, SO ks win the most assured canhdonce
/ Il ultimate reimbursement and whatever may
he said IN period Of great Gnanciel prosperity.
s'ed for some ears after 1888, | should
regard ttas sulc,dll ~ season III financial en-
hafrassment. oiIher n aienIate tho lands them
-"t.ca. the proceeds arising from their sales.
To fl st and pareln48nt duty of those To- whom
rfev BE- entrusted the administration Of public
aGIrs, is to guard the public credit.
IL re establishing the credi, of this Gems
raj Government, tho readsest and most ohvi-
cue nDle il taken 10 restore the credit Of tho
States The pxtrcmt'Ies can only be made sound
NV producing healthy action in tho Central
Government. aod the history OF the present day
fulIy establishes the fact. thu an increase IN tho
yalne of the s'orks of this Gpvernment will, in
a mt j,nfv II instances. be attended by n
crease IN the value of the stocks Of the States.
II should. therefore,, be matter Of general cons
gr4'ulaiian that amidst all tho ernbarras.meuis
arising from surrounding circumstances. tho
Government should have been So fully restored
thst IT has been enabled 10 effect loan 81 seven
millions Of dollars 20 redeem That amount Of
Treasury notes. term, moro favorable ,han
INV TINT hive been offered f,r many years. Ard
The SIX per cent. stock which was crented N 1912
has advaaced IN the hands of tho holders
nearly twenty per cent above Its par value. The
conf leGco Of the people in the Integrity If their
Government has thus been sgnaiiy manifested.
Those opinions relative TO The public lands do not
in nnv manner conflict viii the Observance Of tho
most liberal p3lirv towards those Of friow-
citizens no press forward INTO tho wiIderress
oud the pioneers IN the work Of ~ reclafna-
ton. In securing II all sach their rights Of pre-
em9'iou. the Gavernmen. performs but net of
retfihniva justice for soferings encountered and
hnrtshipe endured. and finds ample remuneratan
IN tho comforts which its policy ensures and tho
haopjness which i irnparts
Should revision Of the The tariff, with view
- rosenua. become necessary IN the estimation
of & ugrpsa doubt not YOU viii approach Tho
sYf Jet with jlst and enitgtlened regard 10 Tho
Interests Of tha whole Union. The principles
nj ii vs which have heretofore had occasion
to submit. remain unchanged. II con, however,
never he too often repeated. hat tho prominent
interest Of every important pursuit Of hfn,
04iroa for success, parmanancv and stability IN
Legislation. These can only be attained by
adopting the basis If action, moderation IN all
Ihinrs. which a indtspensahlv necessary to
cure the harmonious action Of the political of
me anim-I system In political org nization
section of the country should desire 20
have ia supposed in terests a3s anced the sac.
rtfce # all ofhers; but Union being the great in
feres'. equally precious MI, should be fps,ered