Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1845-01-31

ksssssks Of NJ. FULTON Of wyhs. in support Of the
kssols,ioo ofrl ~ ~. Hssisr. peommi, the Bill
tmpssing Taxes. with Instructions TO The Committee OF
ssses. 20 reports Bill providing for tho application OF
ks ssplss revenue arising from the present rate Of taxa
tses. 10 the payment Of The Pubic Debt
Mr. 0peakes, sha vote for the recommitment. and
dss vssy briefly explain the for my This
set proposition to iserssse the taxes for the purpose
isaisssst ~ shsrssoluuon under consideration.
fse ssr purpose; but the proposition is to provide tho
nsas fes the gradual cxingushment Of the public debt
u psgass Il which Ia due. This u q question which
sssss t.sif 10 the calm Judgment and deliberate
uoersdou Of the house. Ii Mr. Speaker, that
snss eentiemen regard State debt = State blessing,
Asy viii sequiesoe in the proposition. Il is true,
sosws.ndias portion OF the debt now DUE that Il Is
payable d ~ pleasure of the Legislature, and is also
~. ~ ths hoden Of the State bonds demanding
Aszv psymsnt Yet, oil admit that the time sill
ppitous than the present. for providing fund for their
ondusl paymsnu The necessity existed two years ago for
i.sressed saxaon sddiuons burhens then imposed
tks people, tho emergency; the people being
ssrsd of the necessity, bore them without complaint.
Tbs too, was 81 time when the country approaching
he vsy verge Of bankruptcy. commerce pcrshing. and
The easU OF the people In great degree parazed; the
psep> however, have suruounted the difficulty, the
ny hs survived the shock and the finances Of the
In prospsrous condition Under this Of things
Mr. Speaker. submit Tito the calm Judgment Of the House,
matter ct sound policy whether IL 10 better
commence the work than postpone IL future
day; penetrate the future, and therefore
undertake to know what's to he the condition OF the
ny; when the time must, that provision
will have be made the liabilities OF the
State. And i regard IL rs the part Of wisdom and
economy the part OF the State, it would be with
individuals, 70 make provision whilst the
at command for the exnguishment Of debt bearing
interest 10 always easier TO pay by ns,amenis than
- forced to pay the whole at We told by gen.
uemen, that the greater than the
the country require. u gentlemen. by this expression
the ordinary expenses Of the the
upon the public debt agree that the mere
than sufficient for these purposes but maintain that the
wants Of the State not to be limited TO these purposes
bsca heretofore overlooked have not been satisfied.
have nothing concealupon this any other question
upon which IL may become duty representa-
tive Of tho people, and am Tree confess that the
am nkng OF this proposition. looking beyond, {,
the great question OF internal improvement
very clearly that In the effort that is making, fatal
blow Is aimed a that policy am glad that the opporu
nifty has been afforded Of testing the sincerity Of gentlemen
upon this queston-whenever appropriations from the
Treasury have been asked for to be applied TO Internal
Improvement, or loans have been required to be made
when the Treasury not in condition authorize the
appropriation directly these Objects have invariably
bssu met with the Argument that il unwsc and mpoi-
tc either 10 appropriate money from the Treasury
ass new debt by borrowing, whilst the present liatl-s
Of the State are upon the State debt has BEEN
-, ssumbling block in the way Of internal improve "a.
we were met with The arguments at the session. and
defeated by its force The resolution under conde-
stion proposes, IN part sii-ss, this difficulty
ana ask gentlemen in good faith go with me,
.st 1t no longer be said us. who are asking aid
from the State TO enable to deveope the rich
resources OF our country and elevate people 10
point Of view, that podga Of the of the
eate, and unmndfu OF the responsibility which
upon us from existing liabilities The proposition
submitted, TO commence the OF the public debt
of the surplus arising the present taxaon
Gentlemen must either the proposition boldly, and
accept IT, or they must acknowledge that public debt
TO be continued with other prevent appro
prations in future works Of Internal Improve
They cannot avoid the dilemma, and they hang upon
whichever horn they please But gentlemen ask why pay
= The old debt, when the avowcd object
cnsi Do gentlemen o pay off the old debt
~ (ssv will be created7 Are to understand
~ shs enquiry that the State Of Virginia
her condition Internal Improvement that her
vt resources are TO lie eternay locked up that her
zens are TO be debared benefits result frrn pru
dsnt and Wise use OF the means OF comfort health aud hsp
pness which the God Of Mature has placed at our com
mand, TOR fear OF creating debt, which re
sources Of the Commonwealth all adequate1-
But this mode OF argument is ling the question
Esntsmen tell now. they have heretofore at least
OF them do, that they opposed
proyemen at the proper nme and when the condition
the finances OF the State will admit Of il. should like
be informed when ths proper time will come in the OBI.
nioa OF those gentlemen ana if they expect under
exstng circumstances the system Internal
Improvement by taxation, the interest
least upon the loans which be necessary! What time
could be propous than the present. when from the
present rate OF taxation the annual surplus after meeting
the ordinary expenses Of the Government the
OF the interest upon the State debt will be 5000 900
This surplus they refuse apply works of Internal m
proyemen Tor the reason argue that have al
ready heavy public debtupon the country
has been created for internal improvements and because
the existence Of that debt and in view of lis nil
mate ernngushrnent they to create an
Dther Tor similar purposes We then propose apply the
surplus revenue TO the gradual Of this de ,
and gentlemen refuse this, they once show us their
hand and tell by implication least that they are on
posed TO any system OF internal improvement. Then why
conceal the fact The friends of internal
have not withheld the motive which impes them to the
course they have taken this question: they vety
plainly that IL is question of life or death with them II
means not provided for the gradual extingushnen OF
the old debt they can expect nothing according the
gument OF gentlemen and in the breath they tell us
the old debt shall be paid, for il is another will be
created for internal improvement purposes Are Eastern
gentlemen afraid 10 trust upon this question They
need not be- Tor they have the power their hands
and will exercise them may seem best No good
reason therefore, exist for the refusal ON Their pa 10
provide NJ once for the gradual pay Of the public debt
no argument against the proportion that the holders
OF the State Bonds not demanding payment hold II
10 be the true duty Of the Legislature TO mske tie n.re
provision tor the exnguishmeht Of the debt
can be done consistently with the RESOURCES of the State
and due regard 20 her solemn engagements without r.
terence TO time portion u the public debt is now du
ana he finances OF the country Condition author
lie It's partial payment, and ii Legislature will not
semitic apply the surplus Internal Improvement,
ought TO be applied TO that object Let US paw cfi the
debt whether any other improvements are 20 be made or
not we are to help ourselves let be free from debt
We do not desire TO be kept longer suspense in reference
% this subject Whatever be future policy Of the
Legislature we desire to know it, that may shape our
oourss accordingly
IL IL Is to be the policy, have former occasion
heard argued this floor. that portion of the Com
~ 10 DC faxed Tor the benefit OF
ort that each must provide for s wants. that dstDc
Ton to be In proportion to the contribution Of the df.
ereDt divisions OF the State il is distinctly IN
derstood why. ask, did Eastern gentlemen apply
ths rule when they were asking tho State embark in
thst spended system OF Internal improvement which has
opened distant markets. and brought foreign travel TO the
capital and principal towns Of the Common and
,n the honesty Of their hearts, IL right that other por
tons OF the State should be taxed pay the debt we will
create for this purpose, provide the within
ourselves Did they intimate then, that this ~ns the true
IN ho adj
'ered' No sir That was the time when, If the principles
OF our Government better understood ey were NJ
least better administered.
But, sir, II 10 high time that settled and fxe4 -lli
cy should be adopted II s better for the people thai
should know what that policy 10 be. Al one 8.
fsxes are increased, at another they but
publc debt never looked thought Of in any financial
provision which has been the pleasure tho L-rsa
tprs TO make Nor has the great interests Of the Con-
monwesih,in respect 70 the trade commerce and educa
tion OF nor people, been kept in but UNFORTUNATELY
Dor the country, oil that have been aimed At in
every expedeni that hos been osorted was to provide
for The present. regadles u the rtuTe and forg.t II