Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1848-07-08


army may be raised upon few weeks notice and thai
citizen soldiers equal TO any troops in tas world
reason therefore, perceived why we should enlarge oar
orces and thereby subject The Treasury to an annual
Cd charge. Sound policy requires that should avoid
creation Of large standing army in period Of ueace
public exigency requires it, Such armies are NOT only
pensiye and unnecessary, but may become dangerous
Besides making the necessary legislative provisions for
execution OF The treaty, and the establishment Of terrific
governments in the coded country, we have upon the
ton OF peace other important duties 10 perform Amono M
regard none as more important than the adoption Of no
measures for the speedy extngushment Of the national N
against sound policy and the genius Of our institute
.hat Puoic debt should be permitted exist day Ion
man the means OF the Treasury will enable the Governn|
to pay II off, We should adhere to the wise policy laid do
by President Washington, of avoiding the sccumulsor
debt not only by stunning occasions Of expense Int
vigorous exertons in time Of peace to discharge the AL
Whcn unavoidable wars have occasoned, ungeneror
throwing upon posterity the burden which we ourse
ought 10 bear" gt -
AT the commencement of the present Adminisra alton
public debt amounted to millions seven hundred ii
eghy-eght thousand hundred and ninety doll
and sixywo cents In consequences Of the war with Mex
has been necessarily increased, and amounts to
nve millions hundred and seventyeight thousand I'd
hundred and fifty dollars and foyone cents including I.
stock and Treasury notes which may yet be issued under
act OF January %, s47 and the sixteen million loan
negotiated under the act Of March 81, l948.
In addition to the amount of the debt, the treaty stipua
that twelve millions of dollars shall be paid to Mexico
Tour equal annual instruments of three millions EACH the
Of which will fall due the 30th day Of May, l849 I'll
treaty also stpuates that the United States shall assume
pay TO our citizens the claims already quidated
decided against the Mexican republic" and " all claims n
heretofore decided against the Mexican Government to
amount not exceeding three and onequarer millions Of id
lars The hqudated claims Of citizens Of the Unit
states against Mexico, decided by the joint board Of Co
mlssioners under the convention between the United Stat
and Mexico Of the 18th of April 1885, amounted to tv
millions and wenlysx thousand one hundred and
dollars and sixty EIGHT cents This TWEEN
equal annual instalmens Three them have been paid
claimants by the Mexican Government and by the Un1
States leaving ~ be paid Of the principal Of the "iqudate
amount assumed by the United States the sum of one MILD
five hundred and nineteen thousand hundred and four do
lars and sevenysx CENTS together with the interest thereof
These several amounts of iquidated and unliquidat
claims assumed by the United States is believed may
paid they fall due, out of the accrung revenues without
issue Of stock the creation of any additional public debt
cannot too strongly recommend to Congress the impo
lance OF outstanding all national resources Of limiting
public expenditures to necessary objects and Of applying
the surplus at any time in the Treasury the redemption
the debt recommend that authority be vested in the Elk
cuve, by law, to anticipate the period of reimbursement
such portion OF the debt may not be redeemabe
to purchase it at at the premium which may cor
mand in the Market in all in which that authority b
not already been granted premium has been obtained
the Government much the larger portion of the loans
If. when the Government becomes purchaser of Its on
stock, 1t shall command premium in the market, will
sound policy to pay rather than pay the semannual int
upon it. The interest upon the debt il the eutstand
Treasury notes shall be funded from the end of the last
year until it shall fall due and be redeemable, will be We
nearly equal to the principal which must itself be utms
y paid.
Without changing modifying the present tariff of du
great has been the increase of under its
ngn operation, that the derived from that
from the sales of the public lands will, it is confidently Il
eved, enable the Government to discharge annually seve
millions OF the debt and at the time possess the mea
OF meeting necessary appropriations for all other proper
ects. Unless Congress shall authorize largely increased
pendres for objects not of absolute necessity the whole
c debt existing before the Mexican war; and that created
ring its continuance may be paid of without any increase
taxation on the people long before it will fall due.
Upon the restoration Of peace should adopt policy
cd to state OF peace In doing this the earliest practicable
ment of the public debt should be cardinal principle Of ac
Protng by the experience Of the past, should ave
the errors into which the country betrayed shortly a
the close OF the with Great Britain in 1915. In
years after that period broad and atudinous construct
OF the powers OF the Federal Government unfortunately
ceived but too much counenance Though the country
burdened with heavy public debit large and nstan
unnecessary and extrayagant, expenditures auhor
by Congress The consequence that the payment Of
debt postponed for than twenty years. and
only accomplished by the stern will and unbendng Do
cy Of President Jackson, who made its payment lead
measure OF his Administration. He resisted the attem
which were made to divert the public money from that gre
object and apply in wasefu and exravagant expendiiu
tutional authority and expectancy -
the Government OF the United States shall observe p
per economy IN its expenditures and be confined in its aci
TO the conduct OF foreign relations and to the few ger
raj objects OF its enumerated in the constitution eav
all municipal and local legislation the States our greans
as nation, in moral and physical power and in wealth al
resources, cannot be calculated
BY pursuing this policy oppressive measures, operat
unequay and unjusy upon sections and classes will
avoided, and the people, having no cause of complaint
pursue their interests under the blessings of equal
and the protection of just and patenal Government
from the exercise Of all powers clearly cop
red the cement Of our glorious Unon numbering thin
States will be strengthened grow in age and incre
in population and future destiny will be without para
or example in the history Of nations. III
JAMES X. POLK.
WASHINGTON, JuLr 8, le4s.
The message having been read in the HousE or Rrpr
sRETAT1vKs- eh
Mr. BURT moved to refer much of II as relates to ma
ng provisions for carrying into effect the treaty with Mexd
% the Committee Of Ways and Means so much as relates
he army, to the Committee Military Affairs; SO much
eates to the establishment Of territorial governments to
Committee on the Territories; and that the message
printed.
Mr. MCKAY suggested to the gentleman to modify
notion mere was another very important part Of the md
more important than that which referred TO Il
appropriations necessary to carry the treaty into effect
hose would not be needed until the next session. He REID
ed TO that which proposed 10 authorize the President TO
base the stock Of the Government and suggested that
'ortion be referred also the Committee Of Ways al
Means
Mr. BURT acquiesced in the suggestion, and modified 4
notion accordingly
Mr.. McCLERNAND said there was another portion 81
Which related to the public lands This should be referred
be Committee on Public Lands ft