Indiana American, Volume 5, Number 14, Brookville, Franklin County, 31 March 1837 — Page 1

IAMA AMHEDBIKDAM OUR COUNTRY OUR COUNTRY S INTEREST AND OUR COUNTRY S FRIENDS. flX C. I L.lKKSO."V. iiKoKYir,L.E, i s:iii.i cootv, lulia, fieiday, jiaiccu si, isar. V. io. 14.

TKIlU OP THE AMERICAN'.

t ,n iJvince f'sVr in aix months; or $,00 at the ex !i ration of the year. The L'dilor w ill dist.,i,tit:ti'; subscription at his option. ivKRT!i'KMKTS. Twelve lines. or Ws, will he riseried once or three times, for one dollar, and 2i cuts iv.il be charged for each additional insertion. FAKEWELf. ADDRESS OF INDlttA' JACKSON, Concluded. fiiprc is, perhaps no one of the power conferred on the federal Government so lia,e to abuse as the taxing power. The productive and convenient source s of revenue wore necessarily given fo it, tint it might Inable to perform the important duties imposed upon it; and the taxes which it lavs upon commerce being conceale d from t lie real payer in the P' i e of the ai lie le, I hey do not so readiiv attract the attention as smaller sums demanded from themdiiccllv In the taxgulherer. lint the taxes impose d on goods en! anres by so much the. price of the commodif y to its'.; consumer, and as many of these duties are imposed on articles of necessity widt h are dailv ed by '.he great body of the people, tiie money raised by those imports is drawn from their pockets. Congress has no right, uadcr the constitution, to take money from tie; people, unli-s it is required to execute liime ooenttne snecinc powers mints eel to the Government, and if they raise more than is necessary for each purpose, it is an ahuse ofilie powjr of taxation, and un just and oppressive. It may. indeed, happen that the revenue will sometimes exceed the amount anticipated when I'm; taxes' were laid. When, however, this is ascertained, it is easy to reduce them; and, in such a ease, it is unquestionably, the duty of the Government to reduce then), for no ircumstan-cs can justify it in assuming a power not given toil by the constitution, nor in taking away tlx money of the people when it is not needed for the legitimate wants of the Government. I'l on n these principles appear io he. you will y. t fi id that there is a constant (Tort lo iiuluee the General Government to go bevon I the limits of the taxing power.aiul to impose unnecessary burdens upon the people. M my powerful interests are continually at work to procure heavy duties on commerce, ami to swell the reve nue beyond the real necessities of the public service; and the coun try tins already felt the injurious affects of tu Mr co ii'uuel influence. J hoy succeeded in obtaining a tariff of duties hearing most oppressively on the agricultural and laboring clisscs of society, and producing a revenue that could not be usefully employed w ithin the range of the powers conferred upon Congress; and, in order to fasten upon the people tois ui'just and unequal system of taxation, extravagant schemes ol internal improvement were go' up. id various quarters, to squander the money, and to purchase support. Thus, one unconstitutional in1; isuro was intended to be 5,h .l I by another, and the abuse of the power of taxation w as to he miintained b usurpuig the power of expending the mone in infernal improvements. You cannot have forgotten the severe and doubtful struggle thr.ni.jh which we passed, w hen the Executive Department of the Government, by its vela, endeavored to arrest this prodigal sr'ieme of jusice, and Jo bring back the legislation of Congress to the boundaries prescribed by the constitution. The good sense and practical judgement of the people, when the subject was brought before them, sustained the course of the Executive; and this plan ol uucoasti utional expenditure for the purpose of corrupt influence is, 1 trust, finally overthrown. Tiie result of this decision has been felt in the ranij extinguishment of the public debt. tiJ the large uccumul itionof a surplus in the treasury, notwithstanding the taritfwas reduced, ami is now very far below the amount criminally contemplated by its advocates. B it, rely upon it, the design to collect an exli'.ivag ml rev i.ue. and to lurd"ii you with taxes beyond the economic ni wants of the Government, is not yet abandoned. The vali'W interests which have combined together ti.npose a tariff, and lo produce an overilowag treasury, are too strong, and have too much at stake to surrender the contest. The rpor.itions and wealthy individmb who r engigedin large manufacturing estab- - -aents, desire a high taritf to increase their S'u'is. D:signnr politicians will suppo.'t it, to conciliate their favor, and to obtain the means of profuse expenditure, fi r the purpose of purchasing influence in other quarters; and since the people have decided that the Federal Government cannot he permitted to em ploy its income in internal improvements, efforts w-il he made lo seduce and mislead the rhiz us of the several States, hy holding out tlieui the deceitful prosp i ts of benefits to be derived from a surplus revenue collected by lli. General Government, and annually divided anion ' I li ct:iis Ami if nn-inr.i-

Red by t'us .-.fall a, ions hopes the Sates should transactions of ordinary business; and the losdisreg.ird the princij les of ec onomy which scs occasioned by them are commonly thrown O ilit to c. liar icteriz" every repuHiean Gov- upon the laboring c lasses of society, w hose vermnent, and should indulge in lavish ex- situation and pursuits put it out of their pow--P 'o.fitures ex-ceding their resources, they j er lo guard themselves from these impositions will, before long, find themselves oppressed ! and wlios? daily wr.ges are necessary for wil) debts which they an; unable to pa v, & j their suhsistem e. It is the duty of every 'he temptation will heroine irrcsislahie to Government to regulate its currency as to 'i'poita high tariff, in order to obtain a sui- protect this numerous class as far as practica-i-l is for distribution. Do not allow vour- hie from the imposition of avarice and fraud.

ffhes, my fellow citizens, to be Misled oil this unject. I be FeueruJ Goverununt cannot 1

collect a surplus for such purposes, without violating the principles of the constitution and assuming powers which have not been

led. It is, moreover, a system of injustice, and, ?l persisted, in, will inevitably lead to corruption, and must end in ruin. The surplus revenue will be drawn from the pocke's of the people, from the farmer, the mechanic, and the laboring classes of society; but who will receive it when distributed among the States, where it is to be disposed of by leading State politicians who have friends to favor, and political partisans to gratify? It will certainly not he returned to those who paid it, and who have most need of it, and are honestly entitled to it. There is but one safe rule, and that is, to ronfine the General Government rigidly within the sphere of its appropriate duties. It has no power to raise a revenue, or impose taxes. exe er, t for the purposes ennumeratcd in the constitution ; and lfits income is found to exceed these w ants, it should be forthwith reduced, and the burdens of the people so far lightened. In reviewingthe conflicts which have taken place between different interests in the United States, and the policy pursued since the adoption of our present fonn of Government, we find nothing that has produced such deep seated evil as the course of legislation in relation to the currency. The constitution of the United Stalest unquestionably intended to sec ure to the people a circulating medium of gold and silver. Iiul the establishment of a national bank bv Congress, with the privi lege of i-suing paper money receivable in the payment of the public dues, and the unfortunate course of legigislation of thc several States on the same subject, drove from general circulation the constitutional currency, and submitted one; of paper in its place. It was not o! sy for men engage d in the ordinary pursuits of business, whose attention had not been particulurlv drawn to the sub ject, lo fori see ail the consequences of a c ur rency exclusively of papc r; and we ought not, on that account, to hcsurpiiscd with ihe facility with which laws were obtained to carry into effect the paper system. Honest, and even enlightened men. are sometimes misled by the specious and plausible statements of the designing. Hut expeiience has now proved the inive hie fs and dangers of a paper currency, and it rests with vou to determine whether the proper remedy shall be applied. The paper syslem being founded on public confidence, and having of itself no intrinsic: value, it is liable to great and sudden fluctuations thereby rendering properly insec ure, and the wages of labor unsteady and uncertain. The corporations w hic h c reate the paper money, c annot be rlieil upon to keep thecircuiaiing medium uniform in amount. In limes of prosperity ,w hei confidence is high, they are templed by the prospect of gain or by the influence of those w ho hope lo profit ly it, to extend their issues of paper beyond Hie hounds of discretion and the reasonable demands of business. And w hen these issues have: been pursued on, from day lo day, until public confidence is at length shaken then a reaction takes place, and they immediately withdraw the credits they have given, suddenly curtail their issues; and produce an unexpected & ruinous contradiction of the circulating medium, w hie!) is felt by the whole community . The banks by this means, save themselves, and the mischieveous consequences ol their imprudence or cupidity aie v sited upon the public, fordoes the evil stay here. These ebbs& flows in the currency .& those indiscreet ex'ensions of credit.naturally engender a spirit of speculation injurious to the habits character of the people. We have already seen its effects in the wild spirit of speculalions in the public lands, and various kinds of s'ock. which within the last year or two. seized upon sucha multitude of our citizens, and threatened to pervade all classes of society, and to with iraw their attention from the sober pursuits of honest industry. It is not by encouraging this spirit that we shall best preserve public virtue and promote the i rue interest s of our country. But if your currency continues as exclusively paper as it now is, it will foster this eager desire lo amass weahh without labor.it will multiply the number of dependants on bank accommodations and bank favors, the temptation to obtain money at any sacrifice will become stionger and stronger, and inevitably lead to corruption, which will find its way into your public councils and destroy, at no distant day, the purity of your government. Some of the evils which arise from this system of paper, press with peculiar hardship upon the class of society least able fo hear it. A portion of this curreiiry frequently becomes depreciated or worthless", and all of it is easily counterfeit-! ed in such a manner as to require peculiar skill and much experience to distinguish the counterfeit from the genuine note. These frauds are most generally perpetrated in the smaller notes, w hic h are used in the dailyIt is more espacially tin; duty of the United j btales, wljere the Government is empnauc:ii

ly the Government of the people, and where this respectable portion of our citizens are so proudly distinguished from the laboring classes of all other nations, by their independent spirit, their love of liberty their high tone ot moral character. Their industry in peace, is the source of our wealth; and their bravery in war, has covered us with glory; and the Government of the United States will but ill discharge its duties if it leaves fhem a prey to such dishonest impositions. Yet it isevident that their interest cannot be afTettually protected, unless silver and gold are restored to circulation. These views alone, of the paper currency, are sufficient to call for immediate reform, but there is another consideration which should still more strongly press it upon your attention. Recent events huve proved that the paper

money syslem of this country may be used as an engine to undermine your free institutions; and that those who desire to engross nil pow er in the hands of the few, and to govern by corruption or force, are aware of its power, and prepared to employ it. Your banks now furnish your only circulating medium, &; money is plenty or scarce, according to the quantity of notes issued by them. W hile they have capitals not greatly disproporfoned to each other, they are competitors in business, and no one of them can exercise do minion over the rest.au J although the present state of (he currency, these banks may and do operate injuriously upon the habits of business, the pec uniary concerns, and the moral tone of society, vet, from their number and dispersed situation, they cannot combine lor the purposes of political influence; and whatever may be the dispositions ofsome of them, their power of mischief must necessarily he confined to a narrow space and felt only in their immediate neighborhoods. But when the charter for the bank of the United States was obtained from Congress, it pern eted the schemes of the paper syslem. and gave to its advocates the position they have struggled to obtain from the commencement of the Federal Government down to the present hour. The immense capital, and privileges bestowed upon it enable it to exercise despotic sw ay over Ihe other bai.ks in every pari of the country. From its superior strength, it could seriously injure, if not destroy, the business of every one of them whic h inclined its resentment, and it openly claimed for itself the power of regulating the; currency throughout the United Slate?. In other words, it asserted (and it undoubtedly possess- j ed) the power to mike money plenty or sc. -vice at its pleasure, at any time, and in any quar-l ter of the Union, by controlling !io issue s of olher banks, and permitting an expansion, or compelling a general contraction, of the cire ulntipg medium ace -circling to its own will. The othe.1 hanking institutions were sensible of itssfieiiglh. and they soon generally became itsuhedient instruments, ready at nil limes,lo execute its mandate ; and with the banks necessarily went, also, that nume rous c lass in our comme rcial cities, vho depend altogether on hank credits for their solve ncy and means of business; and who are, therefore, obliged, for their own safety, lo propitiate the money power by distinguishing zeal and devotion in its service. The result of the ill advised legislation which established this great monopoly was, to concentrate the whole money power of the Union, w ith its boundless means of corruption, and its numerous dependants, under the direction and command of one acknowledged head; thus organized this particular interest as one body, and securing to it unity and concert of action throughout of the United States, and e nabling it lo bring forw ard, upon any occasion, its entire undivided strenth to support or defeat any measure of the Government. In (he hands of (his formidable power, thus perfectly organized w as placed unlimited dominion ever the amount of the circulating medium, giving it the power to regulate the value of property and the fruits of labor in every quarter of the Union; and to bestow prospcrity,or bring ruin, upon any city or section of the country, as might best comport with its own interest or policy. We are not left to conjecture how the moneyed power thus organized, and with such a weapon in ifs hands, would he likely to use it. The distress and alarm, w hich pervaded and agitatcel the whole country, when the Hank of the United Slates waged war against the people, in order to compel them to submit to its commands cannot be forgotten. The ruthless and unsparing temper with w'.ich whole cities and communities were oppressed, individuals impoverished and ruined. fc a scene of cheerful prosperity suddenly changed into one of gloom & despondency, ought to be indelibly impressed on the memory of the people of the United States. If such was its pow er ill a time of peace w hat would it not have been in a season of war with the enemy at your doors! No nation hut the freemen oflhc United States could have come out victorious from such a contest; yet if you had not conquered, the Government would have passed from the hands of the many to the few; and this organized money power, from its secret conclave, would have directed the choice of your highest offi cers, and e oinpcylied you to make peace or; war. as bcl suited their own wishes. Thej forms of your Government might for a time; have remained, but its living spirit wo-ilJI

have departed from it. The ciislress and suffering inflic ted on the people by the bank, are some of the fruits of

that sy stem of policy, which is continually striving toenlarge the authority of the lYdo - ral Government beyond the limits fixed by the constitution. The powers ennumeratcd in that instrument do not confer on Congress the right to establish sue h a corporation as the bank of the United States; and the evil consequences which followed may warn us ol the danger of departing from the true rule of construction, and of permitting temporary circumstances, or the hope of better promoting the public welfare, to influence, in any degree, our decisions upon the extent of the aulhoiity of the General Government. The severe le ssons of experie nee w ill, I doubt not, be sufficient to prevent 'Jongress from again chartering sue h a monopoly, even if ihe constitution did not present an insup erable objection to it. liut y ou must remember, my fellow citizens, that eternal vigilence by the people is the price of liberty; and that you must pay the price if you wish to secure the blessing. It behoves you, therefore lo be watchful m your States, as well as in the Feeleral Government. The lower which the moneyed interest can exercise, w hen conse ntnited under a single head and with our present sy stem of currenc y, was sufficiently demonstrated in the struggle made by the Hank of the United States. Defe -ted in the Genial Government, (he same class of intrigues and politicians will now resort to the States, and endeavor to obtain theie the same organ ization, which they failed to perpetuate; in

the Union ; and with spec ious and deceiliul.and silver; and something. 1 trust, lias neen plans of public advantages, and State inter- clone towards the accomplishment of this est and State-pride, thev will endeavor lo es- inost desirable objec t. But enough yet tetablish, in the different'States, one moneyed j mains to require all y our energy and perscinstitulion with overgrow n capital, and ex-j verancc. The power, howe ver, is in your elusive privileges sufficient lo enable it to con-j hands, nnJ then une-dy must and will be nptrol the operations of the olher banks. Such plied, if y ou determine upon if. an institution will be pregnant with (he same While 1 am thus endeavoring fo press upon evils produced by the Bank of thc; United: your attention the princij les which I de em States, although "its sphere of act on is more of vital importance in the ilomestic concerns confined ;& the state in which it is chai tered, of the country, I ought not to pass over, withthe money pow er will lie able to emho'ly its' out notice, the important considerations whole strength, and to move together with j which should govern y our policy towards forundivided force, to accomplish any object itjeign powers. It is, unquestionably, our tiue may w ish to attain. You have ah . aUy had i interest to c ultivate the n est friendly unabtindant evide nce of its power fo inflict in-jderstunding with every nation and to jury upon the agricultural, and laboring class- avoid by every I onornb'e m ans, the cales of society; and over those whose engage- auntie s of war; and we shall best attain ments in trade or speculation render them Uhis ohjci t by frankness and sincerity in our

impendent on hank fac ulittiss. the dominion' loieigii intercourse, hy the prompt and laiin. . .... . .1.. . ii . . !

of the State monopoly will be abselute. and their obedience: unlimited. ilh such

bank and a paper currency the money pow-lnaiion, however desirous of pe ace, can nope er would, in a few years, govern the Slate to es ape o i annual oliis:et:s ilh ollei powand control its measure s; and if a sufficient !ers; and the seuinelesl die late s c f c licy re

number c f Stales c an be induccil to rrcte such establishments, the time will when i' will again fake the field against the United States, and succeed in perfecting and perpetuating its organization by a charter fioni Congress. It is out- of (he serious evils of our svstem banking, that it enables one class of society nnct that by no means a numerous one by its control over the curre ncy , to act injuriously upon the inte rests of all the other, and io exercise more than its uist proportion el. inline nee in politic al allairs. i he ngri ulturnl, (he mechanical, and laboring classes, have little or no share in ihe direction of the moncved corporations; and the nuture of their pursuits, they are incapable of forming e xtensive c e nil.inatioi.s, to act together with united force. Such conceit of action may sometimes he produced in a small distric t of country, by me ans of personal communications with eae h other; hut they have no regular or active correspondence with (hose who are engaged in similar pur. suits in distant places; they have but little patronage to give lo the press, and exere use but a small share of influence over it; (hey have no crowd of dependants about them, w ho hope to grow rich without labor, by their countenance and favor, and who are therefore, always ready to execute their wishes. The planter, the fanner, the mechanic, and the laborer, all know that their sue cess depends upon their own industry and economy, and that they must not expee t to become suddenly rich by the fruits of their toil. Yet these classes of society form the great body of Ihe people of the United States; they are the bone and sinew of the country; men w ho love liberty and desire nothing but equal rights and equal laws, and who. moreove r, hold the great mass of our national wraith, although it is distributed in moderate amounts among the millions of freemen who possess it. But, with overwhelming numbers and wealth on their sides, they are in constant danger of loosing their influence in Ihe Government, and with difficulty maintain their just rights against the incessant effort daily made to encroach upon them. Thc misc hi-1 spiings from the power which the money ed interest derives from pape r currency, winch they are able to control; fiom the multitude of corporations, with exclusive piivileges. w hich have succeeded in obtaining in the different States, and wliirh are employed altogether for their benefit ; .nd unless you become more watchful in your states, and chec k this spirit of monopoly and thi'st for c xi lu-ive privileges, you will, in the end. find that (hemost important powers of Government have been given or bartered away, and the coutn i over vour dearcs' interests have passed into the hands of these corporations. Thc paper money system aaid its nntural . i

associates, monopoly and exc lusivc priv ileges, have already stru k their nots deep in the soil and it will require all your c fTorH to

check its further grow (h. and ten radicate (he ievil. The men wiio profit by the abuses, and I desire to perpetuate them, will continue to besiege tie balls of legislation in tbe Gener al Government n well as the States, and will se e k, by c v iy artifice, (o mislead and deceive the pul lie scivan's. It is to yourselves that y ou must look fr r sfe-ty . and the means of guarding and perj c luating your free insiilutiens. In your hand is rightfully' placed the sovere ignty of (he jountry. and to yeiu every one placed in authority is ultimate ly responsible. If is always in your power to see ihat the wishes of the pe ople are carried into faithful cxccuiieui and their will, w hen once made know ii. must sooner or later be obeyed. And vhile the people remain, as 1 trust they ever will, uncorrupted and incoi Tuplible, ;ind continue watchful nd jealous e f their rights, the govenment is safe and thc; c ause of fi eiloin w ill continue lo triumph overall its enemies. liutit will require steaelv and persevering exertions on your part to rid yourselves of ll.e injuries and misc hiefs of the paper system, ami to check the spirit of monopoly and olher abuses w hic h have sprung up with it, and of which it is the main stipporl. So many interests are united to resist all reform on this subjec t, that you must hope the conflict will ben short one. nor success easy. My humble efforts have not been spared, during my administration of Ihe Government, to restore the constitutional currency of gold lul execution ed' treaties, ami bv justice and impartialit v in our conduct to all. But no I. . .- r I noire that we should l.. e ourselves in a con-

non comoieiitiou to asse-ri our rignis. u a re:-on io lore e

should ever become necessary. Our local situation, our long line of seacoast, indented b minacious bays, with deep rivers opening into the interior, as well as our extended and still incre asing c ommeie e. point to Hit navy as-our natural means of defence. It will, in the end. be; found to by the cheapest and most effectual; ami now is the time, in a season of peaee. !t with an overflowing revenue, that we can hat we can. year aiur year, anil to us Irength. " ilh ut incue asing the burdens of the people. It is your Hue po.icy. lor vour navv will ne t only protee t y our ric h and flourishing cemnn ice in distant fe ns, but will enable yeu to re ach and annoy the "Cmv. and will give to defenc e in greate st ffie iencv, by mee ting danger at a distance from homo. It is impossible, by any lire of fortitic aliutis. to gnani every point from attack against a ho-iile foice advancing from the ocean and seh cling its object: but they are inelispensible to prote ct chics from bombardment; deck yards and naval arsenals from distraction. t give she Iter lo merchant vessels in time of war. anil to single ships of weaker squadrons wbe n pressed by superior force. Fortifications of ibis disc riplion cannot be too soon ce-mpleted and arm el. and placed in a condition of the most perfect preparation. Tin- abundant means we now possess c annot be app'i d in a main er moro useful lo the ce untiy ; and when (his is done, and our naval fore e snffieiently strengthe ned, and our militia arn ed, we need not fear that anv nation will wantonly insult us. or needlessly prove ke hostilitie s. We shall inoie certainly pieseive peace, when it is we'l understood that we arc prepared for war. In presenting to you, my fellow-rilizens, these parting counc els. I have brought before vou the leading principles upor which I endeavor d to administer theGov rnment in the high c fli. e with which you iw ire honored me. Knowing that the path of free doni is continually beset by enemies, w ho ofte n assume the disguise of frit nds. I have devoted the hut hours of my public life (o warn y ou of the dangers. The progre ss of the United States, unde r our free anil happy institutions, has surpassed the most sanguine hopes of the founders of the republic. Our growth has been rapid beyond ail former example, in numbers, in knowledge, and all the useful arts which contribute to the comforts and convenience of a u an; and from (he .uhest ages of history to the piesentday, there never have beeu thirte o million-" of pee pie assceinte 1 in one- johteal body who enjoyed s. mui h ft c eh m and happiness as the pe ople of those United States. You have im longer iny cfciise lo fear danger from abroad your Btrcxigth and power t.re wtll kuvwa