Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1886-01-09

bundled millions may he called new, and I
they are being paid OF at the rate tf about /
fOriy millions n year. In 1902, two hundred !
and my millions more may be eel I'd. II
will take about six years, with the sinking
fund, 10 wipe them out, and then the Gov
eminent must wait until 1907 before she can
reduce the great bulk Of her debt, more than
seven hundred millions ofdollars.
Mr.. Tliden was quite right when lIe said, a
short time ago, that we were paying of our
bonds TOO fast. In four years, NJ the present
rate, we shall have an ever-growiI surplus
In the Treasury and no bonds SUBJECT to call.
The Government might, OF course, 90 on the
mHrket 10 buy It's own bonds, but those ma
turing IN 1857 are already at p per cent pre-
MUM, and The Government wou'd have TO
give the bondholders bonus NJ oDo hundred
ard nny millions Of dollars for the privilege
NJ taking up her own paper Besides, II the
Government went on the market, the pre-
MUM would be greatly increased, and the
additional premium donated to the bond
holders each year would far ,,xceed the
amount which, under the Blair blu, Is to be
distributed among the children Of the States.
Mr. Houses illustration Of the mai that owed
10000 Is not a case in point. lis man, IL
seems, could pay his debt whenever he got
the money-the United States eal rot.
The problem is certainly sery us one. A
large aud increasing surplus In the Federc.
Treasury which cannot be speedily gotte rid
Of by reduction OF taxation, ana w'ich can
not be paid out on the National 7 ot without
donating 10 the bondholders mil lions Of dol
| lars in excess OF the amount due !hem-what
U af4 Al lao a xuff 4 Ia 70
main in the Treasury and grow until 1907.
President Jackson, in his Eil,hth Annual
Message TO Congress, on an occasion some
whatsimlar TO the present, said at is against
the genius of our free institutlo rs 70 lock up
In our vaults the treasury Of the nation. To
take from the people the rigfG of bearing
arms and put their weapons Of defense In the
hands Of q standing army, wo, Id scarcely be
more dangerous to their liberti IS than to per-
init the Government to accum llate immense
amounts OF treasure beyond tue supplies ne
cessary TO its legitimate wants"
| What shall we do then witt our surplus
/ Fortunately we have. prec dent by which
we can be guided. In 1885 the was a surplus
of some twenty-eight millions in the Federal
| Treasury. True there was no .iebt then; but
Congress might easily have lie II IL there for
rainy day. There was no telling what was
going to arise In the near future, or what the
needs of the Government ould be a few
years Off; but sufficient for .he day was the
evil thereof Congress did not choose to keep
that large corruption fund on hand, so by u
vote Of 20 to in the Senate, and lj5 to 80 in
the House, the money was distributed. among
the States. 1t was called a loan without In
terest, but in the course OF more than fifty
| years no member of Congress has ever moved
that 1t be returned. Should gentlemen who
are choice of phrases desire that the distribu-
ton under the Blair bill De called loan
without interest, presums there would be
no objection-"A rose by any other name
would smell as sweet"
In the Senate at that tins, f.. m Tennessee,
were Hugh Lawson White and Felix Grundy.
Ir tie House were such men as Cave John
son, .lbram P. Maury, Tailie Peyton and
i:nes X. Polk-names Which are household
words In the State to-day. At that time, as
81 this, it was insisted by the few opponents
Of the measure that it vas but protective
dodge to prevent the further reduction of the
tariff; but the people of the States, having
their attention forcibly called by the distri-
button of the surplus tc the fact that the
revenues were in excess OF the needs of the
Government, became all the more determined
to cut down taxes until no further surplus
should accumulate In the Language of An
drew Jackson, they believed that the safe
plan was "to collect only revenue enough to
meet the wants of the Government and let
the people keep the balance of their property
in their own hands, to be used for their own
profit" So the reduction of taxation con-
tinued until the country was brought to a
strictly revenue system, which continued un-
til the opening of the civil war.
Mr. House begins his constitutional argu-
ment with two column attack on Alexander
Hamilton. Not liking the nature of the evi-
dcnce, he assails the character of the witness
Hamilton, he says, Is not to be listened to
and his opinion upon y constitutional ques-
ton is to go for naug at because in addition
to many naughty tn nGs which he did al
divers and sundry OTHER times, in the con
ventlnn which met at Philadelphia in 1887 t.
, frame a constitution, ne favored form o
, Government stronger than the one adopted
p and offered plan which was destructive o
State rights. Mr.. House takes Senator Jack
son roundly to tasl for insinuating tina
Madison also at one time, like Hamilton
favored plan of government stronger thar
= the one adopted. He repels with scorn thu
iuslnuation that Madison was ever found il
! such bad company. And yet it is certainly
fact that Madison die at one time, in common
with Washington, Hamilton, JAY Adams
and other distinguish ed men of his day, favo
| a much stronger p an of government thar
> was adopted. He WIS abreast with Hamilton
, If he did not go beyond him. In letter t.
. General Washington, written just before h
, assembling of the convention, and giving hi
plan for the new government, Madison says
! 81 would propose n ext that in addition to th'
present Federal powers, the National Govern
| ment should be armed with positive anC
, complete authority in all cases which requir,
I uniformity, srch as regulation of trade, etc.
including the right of taxing both exports
and imports. Over and above this positive
power, a negative in all cases lUhaterer (th'
: italics are Madlsol's) on the legislative act
p of the States as heretofore exercised by tn
kingly prerogativs, appears to me to be alb
solutely necessary, and to be the least posi-
BILE encroachment on the State Jurisdictions.
, And again IAN article should be inserted
expressly guaranteeing the tranquility Of thu
a States against internal as well as externa
dangers. In like manner the right of coercion
ShouId Ie axnreSs Iv a declared - II life and Writ