The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1854-12-13

calculations:--w We contemplate the
enormous absorption of capital withdrawn
from the ordincry channels Of business, the
extravagant rates Of interest ct this mo-
ment paid to continue operations, the bank
ruptcies not merely in money, but in char
acter, and the inevitable effect upon tinan-
ccs generally it be doubted that the
tendency is 10 run to excess in this matter!
Is it wise to augment this Ocess by encour-
aging hopes of sudden wealth expected to
flow from magnificent schemes dependent
upon the action of Congress!
Does the spirit, which has produced such
results, need to be animated or checked
Is it rot the better rule to leave all these
works TO private enterprise, regulated, and,
when expedent; aided, by the cooperation
of States! IL constructed by private capi-
tai, the stimulent and the check go together,
and furnish u salutary restraint against spec
ulative schemes and extravaganza. But it
is manifest that, with the most effective
guards, there is danger of going too fast and
too far
We may well pause before a proposition
contemplating simultaneous movement tor
the construction OF railroads, which, in eX-
tent, will equal, exclusive of the great Pa
cific road and all its branches, nearly one
third of the entire length Of such works,
now completed, in the United States, and
which cannot cost, with equipments, less
than one hundred and fifty millions of dol
lars. The dangers likely to sesuIt from COM
binations Of interests of this character, can
hardly be over estimated
Butindependently of these considerations,
where is the accurate knowledge, the COM
prchcnsve intelligence which shall dis
criminate between the relative claims OF
these twenty eight proposed roads, in elev-
EN- States and one Territory! When will
you begin, and whec end! If to enable
those companies to execute their proposed
works. it is necessary that the aid of the
general government be primarily given, the
policy will present problem so compre-
kepsve in its bearings, and so important to
our political and social well being, as to
claim, in anticipation, the severest analysis.
Entertaining these views, recur with sat
isfaction to the experience and action OF the
last session Of Congress, as furnishing as
surauce that the subject will not fail to So
Iicit careful re-eXamnation and right
scrutiny.
1t was my intention to present, on this
occasion, some suggestions regarding inter-
nal improvements by the general govern
ment, which want of time at the close OF
the last session prevented my submitting
on the return to tie House Of the Represen.
tives, with objections, Of the bill entitled,
''An Act making appropriations for the re-
pair, preservation and completion Of certain
nab lip .nrl-S ipfn m nj
authority of law;" but the space in this
communication already occupied with other
matter of immediate public eXigency, con-
strains me to reserve that subject for q spe-
cial message, which will be submitted to
the two Houses Of Congress at an early
day.
The judicial establishment Of the United
States requires modification, and certain
reforms in the manner of conducting the
legal business Of the government are also
much needed; but us | have addressed you
upon both Of these subjects at length be-
fore, | have only to call your attention to
the suggestions then made.
Nv former recommendations, in relation
to suitable provision for various objects o.
deep interest to the inhabitants of the Dis
the objects partake largely of nationa
character, and are important Independent
of their relation to the prosperity of the on
Iy considerable organized community in tht
Union, entirely unrcpresented in Congress
: have thus presented suggestions on sucl
subjects as appear TO Inc to be OF particular
: interest or importance, and therefore mos
J worthy of consideration during the short re
naming period allotted to the labors OF th'
present Congress.
Our forerathers Of the thirteen United Co
lones, in acquiring their independence, ant
: in founding this Republic Of the Unite'
= States of America, have devolved upon IL
, their descendants, the greatest and the mos
: noble trust ever committed to the hands o
5 man, imposing upon all, and especially sucl
as the public will may have invested for tht
time being, with political functions, the mos
sacred obligatoLs
We have to maintain inviolate thC
great doctrine Of the inherent right OF pop
ular self-government; to reconcile the larg
est liberty ofthc individual citizen, with COM
plete security Of the public order; to rem
der cheerful obedience to the laws Of thu
land, to unite in enforcing their execution
and to frown Indignantly on all combination!
to resist them; to harmoniZe q sincere ant
ardent devotion to the institutions OF relIg
ous faith with the most universal toleratlon
to preserve the rights of all by causing eact
to respect those Of the other; to GARY for
ward every social improvement to the utter
most limit of human perlectibility, by the
free action of mind upon mind, not by the
obtrusive Intervention of misapplied force
to uphold the integrity and guard the limita'
tons Of our organic law; to preserve sacret
from all touch of usurpation, as the very pal
ladum of our political salvation, the resery'
ed powers Of the several States and Of the
people; to cherish, with loyal fealty and de-
voted affection, this Union, as the only sure
foundation on which the hopes of civil liber
ty rest, to administer government with vig
liant integrity and rigid economy; to cultivate
: peace ond friendship with foreign nations
and TO demand an exact equal justice from
. all, but to do wrong to none; to eschew in
termeddling with the national policy and th
domestic repose of other governments, ant
70 repel it from our own; never to shrink
from war when the rights and honor Of tn
country call US to arms, but to cultivate il
preference the arts of peace, seek enlarge
ment of the rights Of neutrality, and elevat
+ and lberaize the intercourse of nations
e and by SUCH just and honorable means, an
such only, whilst exaltng the condition
j. the Republic to assure TO it the legitimat
u influence and the benign authority of
= = great example amongst all the powers
Is Christendom.
Under the solemnty of these conviction
ID ihn klnceinnc Iac ALL. q L.