The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-11-19
THE DAILY UNION.

revolutionary war. In the struggle for indepen-
dence the States contributed freely; and as Il was IN
support OF national object, IL was obligatory on the
general government to reinsate their credit at inc
earliest convenient moment Congress superinends
the national interests Of the Union. Local concerns
are LEFT TO the State legislatures. The powers OF the
former are exercised most in time of war;; those OF
the latter in time Of peace Congress cannot extend
its influence or agency to any interests except those
that strictly nationai Its powers are enumerated
and any act beyond the pale of its duties would be
of no force II can eonsiii,iionaiIy establish posi-
reads but II make canals. When that nstru-
ment was under discussion in the convention by
which it formed, II is sad that that llustfious
philosopher and statesman, Dr. Franklin, proposed
TO add TO the clause, Congress shall hare poicer TO es-
tabsh posi- c6iees and post roads,, AND TO MAKE CA
NAILS but that his motion was rejected by consid-
cradle majority. What absurdity, then, TO suppose
that Congress, with this fact before its eyes, could
appropriate funds for making canal in Illinois, OF
Pennsylvania, without lagranty violating the con-
stitution which it is TO support. II is idle IN
| the extreme for the bondholders of the indridpa
States expect any action favorable to their wishes
from the UNITED STATES None ever legiti.
mately proceed from that quarer. The constitution
utterly precludes the possibility of such an occur
of the general government to preserve the rights OF
the States The Senate bf the United States derives
its existence Immediately from the State legislatures
and the popular branch Of Congress and the Prssi-
dent are elected under their control. As has been
seen, the constitutions Of the separate States deter
mine the qualifications of citizens II years of age
exercising the right of suffrage.
although the general government cannot rake
itself responsible for the public debt of Loulsana--
if were waged against that State-if the me-
tropolis of il were beseged by a foreign enemy on
account of its Indebtedness, the course which II
would pursue is not at all questionable. The con-
stituton declares that the United States shall pro.
tec them (the Staes) from, invasion; and for this
purpose, 1t has the power to order troops from the
| most remote point in the Union. The States as
free to make contracts cities, the individuals by
whom they are formed; and il would be solecism
in the established usages Of the civilized world, for
a European creditor 10 call upon his government
to take possession of the estate of debtor in OF
the Staes Vi 81 arn,is The creditor must look for
coercive means to the laws Of the country wherein
the debtor resides. To recover the sums loaned TO
the States there is no legal pocer nor can the de-
fault Of any one, or the whole of them, in their
STATE capacity, be justly made be against the
United Siaies.' The moral obligation, therefore,
all that the creditor rely upon for the security
of his investments in stocks II the Americans are
indeed what they are represented to be by portion
of the stamped sheets of England exciting wherever
they 60 the recollection that they belong to dis
honest people, deficient in the elements of good faith,
committing the most stupendous frauds, pil'aging
Europe ETC., ETC.. not dollar of the vast sums they
owe will ever be liquidacd. II they are destitute of
honor if they merit the opprobrious cpithets SO un.
ceasiDgy bestowed upon them, however extended
their ability, payment could not be expected. Now
Hampshire, Connecticut, Vermont, Rhode Island
New Jersey, Delaware, North Carolina, which
owe not one dollar are denounced as sicindiers,
New York, Massachusetts,, Virginia, South Car.
dina, Georgia, Alabama, Missouri, Kentucky,
Ohio, Tennessee, which have maintained their
| ,eaA,t all III I'D. all
are denounced as aoinders, Even the nation ITSELF
which, since the adoption of its constitution, has
paid funded debts to the amount of $500, 900, 900,
without ever having suffered solita y obligation,
hoirerer large horerer small the amount 10 be dis
honored is assailed with the malignty of fendish
spirit, as being guilty of fraud, as enormous as
ever dsgraced the worst king Of the most degraded
nation in Europe Wherefore this groundless
abuse Because out of whole population of
7,595O0O, some 3i0,0OD are repudiators-not Of
the national debt but of portion of the debt of the
State to which they belong; and because the SOW
ereign States of Pennsylvania, Maryland, Indiana,
Illinois, and Arkansas, have failed to provide their
interests regularly, although manfesng deter
mination to pay, by the sale of their public works,
land other means,) the advantages of which are as
yet but merely in embryo.~
"The combined powers of Europe, with all the in
hucncc they could bring TO bcar-with the purse
and the sword, united-would be unable to get the
liabilities Of the States assumed by the general gov
eminent, even if such measure were palpably
constitutional. 1t could not descend from its high
position, to sanction doctrine SO unprnciped. is
sumption is the twin-ss,er of rpudiaio and alike
destitute Of moral and political chastity. The OBJ
ject Of one is to get rid of debts by imposing pay
ment on party not benefited by their creaiion
and the other, by totally disavowing the force Of
their obligation. If we were driven to the alterna-
tive of choosing between these detestable heresics
should unhesitatngly select reputation; for al
though it would be swindling on magnificent
scale, it would not be more So in the end Than
SUMPTION which, with its attendant evils, would in
evitably lead to the dissolution of the Union. No
nation could survive the adoption of project SO
wholly unjust 1t would be one of the most de.
spotic governmental acts that the world ever wit
messed. II has been shown in this communication
that the current expenses for the support of local
institutions different in all the States. The
government of New Hampshire, with popua.
ton of 2S7 200, is administered for $50 QUO; while
that of Louisiana, with population Of 372 900,
requires the sum of $690,O00 for it's support.
What kind Of justice would that be which would
compel economical New Hampshire to pay the
debts of extravagant louisiana The annual eX-
ports of New Hampshire do not exceed $500 900,
while those OF Louisiana amount to not less than
$751; 00,0 900. Therefore, in the former State econ.
omy is Indispensable, while the latter can afford to
pay her public servants high salaries
"WhateveI may be said on this side Of the At
antic deroga,ory TO the reputation of the American
republic, it nevertheless is the full tide of
cessfa experiment. There never has been Pc
Rod, since the earliest date of its existence, when
confidence at home in its perpe,uiY was more un-
bounded. As an evidence Of this, Us 6 per cent.
stocks are commanding premium of l6 per cent.
Il owes, comparatively speaking, no debt--abso-
uttly none, but what Is held by it's own citizens;
while its annual expenditures have been reduced
within the compass of S23,000,000 !!
'Mark the prediction. The las, cent of principal
ri he maid on he hands
issued by the States. Stocks are daily changing
owners--passng from foreigners to citizens The
securities Of the different commemorative ultimate
y will be owned at home, which will tend to
strengthen those issuing them. II snot at all i'm
probable hut that there will be constitutional prohi
b,ions against the creation OF funded debts The
question is already agitattd in Virginia, Massochu-
sets, New York, and elsewhere. Il is undoubtedly
their true policy not to invite dollar from abroad
except that which their surplus products command.