The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1848-12-06


crsatoB Of national bsnk Not fotesssins ,hs dan.
gerous power and countless evils which such an In.
sution might entail on the country percciying
| the connection which il was designed to form be-
tween the bank and the other branches of the mis-
called "hmerican system," but feeling the embar-
easements OF the treasury ard Of the business of the
country, consequent upon the war, come Of Our
statesmen who had held different and sounder views
were induced to yield their scruples, and, indeed
settled convictions Of IFS unconsti,utonaiiy, md Il
give II their sanction, as on expedent which they
vanly hoped might produce relief
II WIS most unfortunate . rrOr, as the subsequent
history and final catastrophe OF that dangerous and
corrupt institution have abundanty proved. The
blnk, with liz numerous branches eamiied uto the
States, soon L5rought many of the aotive political
and c)ncrca' men in different sections of the cOun-
ify INTO the relation of debtors il, and dependents
upon 1t for peeuniary favors; thas dusing through
our the mass OF society great number of indlvi-
duns OF power and influence to give tone 10 public
opinion, aed 10 act In concert in Gases of emergency
The corrupt power Of gu h political engine Is no
Logger matter of speculation, having been display
ed in numerous instances, but most signally In ,he
political struggles 1S32-'3-4, in opposition TO the
public will represented bya fearlesi and patriotic
President.
But the bank was but one branch of the new sys-
tenn. public debt of more than one hundred and
twenty millions Of dollars exested: and it is not To be
disguised that many of the authors Of the system
public prosperity but looked upon its coninance as
national evil. Whilst the debt existed, it furnished
iaqstion necessary to the amount Of the interest,
cc,eding seven millions of dollars annually.
THIS operated III harmony with The next branch OF
the new system, which was high protective tariff
THIS was to afford bounties to favored classes and
PARTICULAR pursuits, al the expense Of all others.
proposition TO tax tie whole people for the purpose
OF enrchlhg a few, wIs too mOnstrous 10 be openly
made. The scheme was, therefore, yelled under the
plausible hut delusivc pretext of measure to protec'
'homc industry ~ and many OF eur people were 70
= time, led 10 beive that tax which in the main
xuns FIR The baus If nh
who piid 1t. This branch Of the system involved n
partnership between the government and The favnr-
ed classcs-the former receiving the proceeds of the
lax imposed on articles imported and the latter the
increased price OF similar articles produced ut home
caused hv such tax.
1t is Obvious that the portion to be received by the
favored classes would as general rule, be increased
in proportion to the increase of the rates of tax i'm
posed, and diminished as those rates were reduced TO
government. The rates required to produce suffi-
clent revenue for the ordinary expenditures Of gov
to The or m ih We's s n11s
SUFFICIENT to satisfy their cupdy; and hence varir
purpose of enarging the expenditures, and thereby
creating q necessity for keeping mp high protective
tariff The effect of this policy was to interpuse
lliIca restrictions upon the natural course Of the
business and trade Of the country and to advance the
interests Of large capitalists and monoposts, at the
expense Of the great mass Of the people, who were
taxed TO increase their wealth.
Another branch Of this system was n comprehersvr
system OF internal improvements capable of indefi-
mite enlargement, and sufficient TO swallow IN ms
many millions annually rs could he exacted firm the
fo'eign commerce of the country. This was a COR
yenlent and necessary adjunct Of the protective tariff
II was 10 b. the great absorbent of any surpIus
which might at any time accumulate in the treasury
and of the taxes levied the people, not for neces
snry revenue purposes, but for the ayowtd object OF
alfording protection To the favored classes
Auxiliary to the siIne end, il it was not an essen
tal part Of the system itself was the scheme which,
AT later period, obtained, for distributing the pro-
ceeds Of the sales Of the pnblic lands among the
States Other cxpedents were devised to take mo
ney out of the treasury, and prevent it coming IN
from any other source than the protective tariff
The Authors and supporters of the system were the
advocates OF the largest expenditures, whether for
necessary or useful purposes or not, because the
larger the expenditures the greater WIS the pretext
for high taxes in the form of protective duties.
Ihese several measures were susancdl, popular
names and plausible arguments, By winch thousands
were deuded The bank was represented to he un
indispensable fiscal agent for the government; wa 10
equaze exchanges, and TO Regulate and furnish Il
sound currency, always and everywhere Of uniform
value The protective Tariff was to give employ.
ment 10 "American lab0rN al advanced prices; was
10 protect "home Indusry,h and furnish steady
mar kei for tae farmer Internal improvements were
10 bring trade into every neghborhood and enhance
the value of every mans property
The distribution of the land money was to enrich
the States, finish their public works, plant schools
throughout their borders, and relieve them from tax
alton. But the fact. that for every dollar taken out
oi the treasury for these objects Il much larger sum
WAS transferred from the pockets of the people to the
favored classes was carefully concealed as was also
the tendency II not the ultimate design OF the system
to build up an arislocrrcy OF wealth to control the
masses Of society, and monopolize the political pow
er of the country.
The several branches of this system were so init.
ately biendrc together, that IN their operation each
sustained and srcngt hened the Others, Their Joint
operation was aud new burdens of taxation and to
encourage largely increased and wastetul exppnd-
lure of public money. IL was the interest Gf the bank
ihhi the revenue collected and the disbursements
made by the Government should be large, because,
-
the amount the greater would be the bank profits by
its use, was the interest Of he favored Glasses, who
rates OF that PROJECTION as high rs possibe tor the
higher those rates, the greater Wuuld be their adva
tnge.
IT. was The Interest Of the people of all tn Nse sec-
tons and localities who expected to be benefited by
expenditures Tor internal Improvements, that the
amount collected should la MS large AZ possible TO
the eud that the sum disbursrd mig also he the lar
ger The states beng the beneiciarles the ,iist-
hutton OF the land money had an interest in having
the rates of tax imposed by the protective tariff large
enough to yield sufficient revenue from that source
to meet the wants of the government without dis
turning or taking from them the land fund; so that
each OF the branches constituting the system had a
common interest III swelling the public expenditures
The hhu direct interest III maintaining the pub
lie debt unpaid, and increasing its amount because
this would produce an annual increased drain upon
the treasury to the amount of the interest, and
der augmented taxes necessary. The operation and
necessary elect OF the whole system WERE to en-
courage large and eXtravaguLt expenditures, and
thereby to increase the public patronage, and main
tain rich and splendid government ut the expense
of taxed and impoverished people.
1t is manifest that is scheme of enlarged tax.
alton and ex end lures, had il c, inued 10 prevail
must soon have converted the government of the
Union, intended by It's trainers u be pair, cheap,
and simple confederation of States, united together
for common protection and charged with a few
specific duties, relating chiefly to our foreign pars
into a consolidated empire, depriving the States of
their reserved rights and the people Of the their just
unhs rnl in p.,ftI
verument In this manner the whole form and char
acter o! the government would be changed, not by
an amendment of the constitution, but by Iesorng
To mn understandable and unauthorized cons tructuu
OF that nitrument.
The indirect mode Of levying the taxes by n duty
on imports, prevents the mass of the people from
re dy perceiving the am unt they pay, and has en-
able the few, who are thus enriched and who seek
to wi. ID the political power of The country, 10 de-
ceive and deiude them. Were the taxes collected by
direct levy uoon the people, is the case in the
5 ales, this colld not occur.
The whole system was resisted from It's inception
by msny Of our ablest statesmen, slme of whom
4ou.ted Its constitutlnnaiity and its expedency,
wille others believed it was, in all its bfa1ckes
fac AIT and dangerous lnfraction of the institution
Tn national bank, protective tariff levied not
raise the needed, but for protection mere
ly, internal improvements, and the distribution OF
the proceeds of the sale of the public lands mea
sures without the warrant of the constitutions would
upon tine matures consider ton seem to be clear 1t
is remarkable that no one of these measures nvolv-
ing such IN mentous consequences, is authorised by
any express grant of power in the constitution. No
one of them is ''lncdent to, as being necessary and
proper for the execution Of the specific powersn
granted by the constitution. The authority under
which it has been attempted to justify each of them
is derived from differences and constructions of the
constitution which its letter and whole object and
design do not warrant.
II is to be conceived that suoh immense powers
would have been left by the trainers Of the c0nstu-
non to mere differences and doubtful constructions?
Had it been intended to confer them on the federal
government, it is hut reasonable to conclude that 1t
would have been done by plain and uncuuiyocal
grants. Tis was NOT done; but the whole structutc