The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-02-09

rates are we not Justly and in verify responsible to our
fellow counymen for this depreciation OF their property
But il may be said increased taxation will also distress
individuals and corporations, and lessen the values oil
their property. This is fully admitted II will certainly
do So Perhaps no more curious inquiry could be sartei
than what would be the of the increased value
OF the various properties possessed by the people OF Eng
land If every species OF taxation totally abrogated
Taxation is not only an evil but is great and
stanty ncredSng evil IN this country But IS II not bet
ter 10 pay at least part OF the extra expenses we
now mourning, by calling upon all OF the people to con
tribute their pro rata share than to create national debt
OF cumbrous character and especially that debt has
to be created SUDDENLY and at the risk of disturbing the
business relations and of less,nng the values OF the
property of the whole country
We are in the midst OF war, from which am con-
yInced the representatives OF the American people Will
never consent to be vigorously extricated We have Of
ered peace to Mexico often, that they have come to
the conclusion that peace would be the greatest boon
they have il in their power 10 bestow upon us. Now,
unfortunately they are not in humor to crafty us
gallant armies having inspired them with more re-
spec than iope, more admiration than gratitude What
them remains Tor us to do consistent alike with the hon
of our country and the domestic interests OF our peo
udicously applied will be most likely TO insure that
peace which Mexico would fan withhold! And in OBJ
tanning the means TO meet such suitable appropriations
ought not TO draw small share from the money
market and as large share from the property OF the
country by taxes equally dfused (and thus create as small
national debit due regard to the interests and the
wishes OF The people 10 demandi Neither side OF
this hall advocates an ingorious withdrawal OF our
forces from Meyiconeither side advocates the accumu
lation of large debt Gentlemen OF the oppositionf
correctly understand their pOson-are willing to raise
larger revenue, and thus lessen the amount OF debt
which will otherwise be rolled up, if we will adopt their
methods OF increasing the xes Such being the state OF
things, do not despair Of seeing adopted
that will enable the administration TO push this Wig
orousy forward to an early and glorious conclusion
by means so wisely obtained as to leave the commerce
and business of beloved country nearly unaffected by
the demands for such large sums OF money For these
noble ends esteem il duty diligently to labor and
for one shall with single eye, so labor as long as
single effort, however humble. may in any degree bid
fair to be useful
Under these circumstances, when thus engaged in a
foreign war which calls for money in sums 80 large as
not only to threaten to entail upon permanent ma
tional debt but to visit with present financial caam
ties by of the difficulty of sparng from business
circles such large sums of money it is gavely proposed
under the imposing auspices of oil the most important
standing committees of this Houseto revive, forayto
system OF internal improvements by the general
government! congressional system, ought to say
for it is well known that the executive branch of
the government will in way sanction III and II 1t OBJ
tans 1t can do SO only by two thirds vote 1t must
therefore, be wholly and exclusively congressional
scheme, or system.
To this plan Of adopting system of internal improve
ments upon the sole authority OF Congress- without an
cypress constitutional right to do and in time OF war
at time when there is actual deficiency in the treas
ury of fifteen and half millions of dollars and pros
peetue deficiency OF twenty millions more-at time
when we have Just relaxed commercial system, and
entered into reer and more vigorous competition with
our commercial and manufacturing rivals-and at time
Wncn monetary circles OF England
shaken to their centres, and when our own are seriously
threatened- say to system thus proposed and at SUCH
time, hope need only oppose the manifest interests
OF our country. No plan could more seriously compro
mise them; for proposes to precipate upon an ex-
hausted treasury closely bound bundle OF local interests
and force the treasury upon an already overbdened
money market in order to crafty those nsatate local in
terests OF the 5000 towns and villages situated upon
navigable waters probably not forty can be grated with
an appropriation to improve their harbors under the
widest scheme that wothirls of the members OF Con-
gress be persuaded to pass during this session And
shall the whole of the business and commercial neres
of this great nation be placed in Jeopardy that forty out
of the thousands of towns and villages in this country
shall be enabled to boast of having obtained appropra
tons from Congressman that, too at time when the
nation is at war, debt rapidly accommodating, and the
treasury Overtaxed by more than $l5 100000
Sir, constitutional arguments need not be raised; for
the interests of the people OF every State to be
dangered by the introduction OF such bills into
Congress- under circumstances calculated to induce be-
lief that they may be enacted into laws 1t is not difficult
for the most ordinary business TO that if large
of money to be withdrawn from business, to carry
on general system OF internal improvements as well as
to wage war with Mexico, general financial embarrass
ment must inevitably ensue The money market cannot
supply such extraordinary demands upon it, without pro-
ducing arrangements of the most extraordinary character
In the commercial distress that would ensue in conse
quence of enormous appropriations, who will say that
more than per cent? And yet per cent, upon two
thousand millions OF dollars is no less sum than twenty
millions! Surely, cannot too seriously consider, and
may not lightly regard, the magnitude of the injury
which even SO slight depression the value of property
produces. When considered with reference to all OF the
Interests OF this great country what erce what apology
can be devised tor voting to enter upon such system
under circumstances remarkable Can any charge
that orsr estimate the importance and value OF the pecu
mary interests of the people OF this conntry Let such
canddly these interests with the rival in
England. We learn, from the December number OF
Blackwooi Qsi7) that "he value OF the personal prop
erty in England was
In 1918 Ell 200, 100000
1911 2,O)1,O0000)
1917 about 2,40),o)oO0)"