Political Beacon, Volume 4, Number 22, Lawrenceburg, Dearborn County, 13 March 1841 — Page 1
Hi
f BEAC PUBLISHED BY MILTON GRLGG.
1 POLITICAL
ON.
LAWRENCEBURGH, (IA.) SAl-URDAY, .MARCH 13, 1811.
NUMBER 22.
' , .. -TERMS. : Two rViLLAKS in advance or i:i:n three rc -0 after tb coitvici. "Kiit i. t'.c jf .it, .r Two I)oi.i.a and Fuiv Cunts, within six months, nd Thkk Hoi-la after the expiration of the year, will he required from Country Subscibers, and those who receive their papers by mail. Two Dot.t.Aa and FifttCewts in advance, or within three months after subscribing, end 'I'HKtr. Dollar after the expiration of the veer, will be exacted from town subscribers. No subscription taken for lesst'ian six mouths. A failure to notify a discontinuance at the end fthe time subscribed for will be considered a a new engaem-Mit. AH'.ettcrto the F.aitor must be postpaid. Tkm f Auvtrtising. Twelve lines or less, three tiT-crtions, one dol.ar, and twentv-tive cents for earh sub'.itional insertion. Longer advertisements in the same proportion.
ruosrFA'TivF. rur;-F.Mrno dill. SPEECH 1' Mr. WHITE, OF lDIAVt. TcKSDAV, J aM ARV 10, l- ll. conci.i Di:i). The committee of this body on (lie publie lands of l!ic hsl ssioti did not attempt a vindication of this measure upon any ground" of economy or right, but base their recommendation upon the op1'''' ,',',r! io
liiC new Slates, and upon tho ( i ser bv the ,,-,. ,-.,! .... . , .....--. I 1 . I ' 1
Thirty five per cent, on this Amount is the irross sum to lie retained by the State. Against this sum we have to set off the following ntnonnts: Gros amounts duo the Miamies
by existing treaties Perpetual auntiitiosnmlcr those treaties f i;:tU70, equal, at 5 rrr ctnt. to a capital turn of Three per crnl. fund on nctt amnunt of 3,0: 2, 50 is Estimate for extiucuNhiii!: l!.e residue of the Miami title Estimate (by the Commissioner of Indian Affair) for expenses of emigration of the Mitt mios Estinnte (by the Commissioner ef Indian Affairs) for their subsistence dti? year I ive per cent, estimated expenf cs of survey and sale is
$255,5-14
iP?,r.oi 55,000 G,0G'3
cd to pour their flood of revenue into the national ooffors until in 1S3U a surplus of more than forty millions had accumulated. As a meajiie of the highest necessity, this surplus was, hy an act of that dile, directed to he deposited with the Stales, the true effect of which was a distribution to the States of the amount paid under t he ant TllifVtt n; nil ! f-l.I n Ck milli.nta I'nT.r.
' ' ; Innately, for want of a supposed compe-
icney in Congress to da so, no specific application of this fund was directed. Some of. the States invested their portion ot the fund for various purposes, olhets divided the principal sum per capita among their people, hut the general effect of the uncontrolled possession of the money was to induce new undertakings by the State?, and n increased accumu
lation of liability. Their resources bcin"
l'rSyi5! i.'btis squandered nnd exhausted, it was
i impossible th-st cither the States or the
lands, the deeds would have expressed llie tenure to he for the benefit of the "United States,'" and not "for the use and benfit of such of the United Stales as have become nnd shrtll become members of the Confederation or Fedetal aliiancc of said
to
epulis, irgmia inclusive, according
tneii usual respective
fcc.
llien came the Constitution, providing
mat
commerce of all nation?. In this country, capital finds other and better employment in the improvement of the land. While E:isdand was an agricultural country she had no public debt. After the balance of power had been adjusted in Euiopo, and
J the commercial era commenced, the Brit-
is!i (loot w is contracted. Expensive wars
For the Beacon. The Public Debt of Indiana. There is no subject more free,uently dis cimed, by the politician, and the citizen, and indeed there if none in which wo ara more immediately interested, aside from our own liabilities, than the State debt. It is however to be rer.-ettod. fhnt fbir im nnd
and tlip rstaldishinpnt of n rnlnninl cvafnm
Mm I .. T II I .11 . . .
vvunun-ys sua nave power in h.iv-n I -. o n or-oosnrn i.. ..,; i .1... h.- hoi-n m mnK .
dispose ol and make all ncerifn! rules and merer, and her debt has been npidlv nc-! sub-ect, nnd so little pains taken to lav tha
"h ' - "Y1 . "V ""V """r ri,m,"i,,iP- soon as she shall Inve subiect fairly and hone.tlr before the peo er itronert r lpliuin-nft in tl I .ntn.1 ' : ..! . , ., i - 1
i v -'"' j -si:ui!siico tier commerce nevoiui me comoperating without qualification or coudi-, petition of the world, there will be an end Hon upon territory subsequently acquired, j f her debt. Until our territory becomes
an j upon ine ianus previously acquired, j too thickly populated to sustain the insuect to the trusts contained in the deeds j habitants, 'a public debt will prove a na-
io proprietor can te yesteri tional calamity
pic, nnd any exaggeration on the subject
would be criminal, for the naked truth in all conscience is bad enough. I propose firt to show the amount of the mere debt; secondly, the means -we haVe to pay Uio accruing interest; nnd then say something1-.
Ntimate by Topographical liiirean for completing CumLerland road in Indian-i
Lilitv of the
lion; end, as
; i c T r.s a t pn
if doubrins tiie
liiat tiie !ti;ecf Ii:.iiana,
ciudinc the Cumberland road.
on sir !
their own argument, the atti tup! to lessen
the importance of the matter by disparag
ing the fund deemed to be iivuiabio on
in ii , mm i- twenti-nine thousand ono
al.ill Ol . eiclit v-two do tar-, rinrl. with
( iiti.b; -rlan.l road, tliree million 'even l.r.n
drcd nnd 'event y-three tiiotisand I'mir bund- ! red and thirty-two dollars. The Committee I
l,95G,Q3Cj banks could long sustain themselves in j such a career, anil the revulsion has come. n . . J W!,M which we are all too familiar to re-
' ' q"ire a recital of it. , ! Having looked at this uninviting picture. ' " ; let us fur a rroment imagine what would without in- ! I:ave ',oru olir condition if the distribution would be lo-; ''"I 'f l'-i'i bad p .sscc:. Having withiiundreil and drawn freni our cuirent revenues so much
hundred and : as proceeded Horn the lands, the deposite the- Joss of the banks would have held no excess. The
daily draf.s of t!ic Treasury would have employed all our funds, and the banks eonid not have enlarged their discounts
7,, : J, ; ,.,;., I r, .iVvmA on the Puhlic Land-, in rcc-1.n,vnd.n.r tt.is w,"u ' l,a u,"lrSc" "lt 'SCOUnt: tithe pubhcdoma.n 1 si all t. t .t inpt f.,rrt,v :.v r;'rf ! 1-cyond the ordu.arv wants of co-.nmeree
id tn km- t ic committee throu'-ii n.ein-,, ' , ' '.. ' r I Ti.-.. . e :.t-..: i
tiie suppo-ition ttiat i " -n,i iiiinuuuji auventure,
1 lias l)e si nrawn 11 n on
tricato process ot reasoning f.y wn.eii un-j , ,.x .u,r,lt in tllo oxv t.,tp, !)V ,;, (;ov. I which, eom'u:n.:d in masses, controlled
endeavor to sliow tin. me pt se.it vai-... , rr..,0,lt fi)r i!ltcr.,.,i imnroVf.mPR, v.ould of all the unsold hndi in the 11 be States , f ,;1( 10,;i, ,i,c i,j; pa;" in v l.i. h tlu-y lipon which ths amendment would ope- ;..; , in, bide tin; annual appropriations for
rite. (beili'T KO.Uirlllal acres.) amounts ! impMnn - tne navigation i the Ohio an 1
r ii , iinnti; iui',''" .,.i-f .m..... .11.. ii.ii i.,iu'm ,-i .ti-. iiiii cn'y to the turn of 100,0tj0 or ab.mt 1 Mi'-iippi rivers. They rroiit (by the IV nor acre, nlihon.di it would be ' "i eratii.n of the hill) the Federal tiovern-
! liiolit rtllit. t-iiTI ti-ii 11 nil. p!i iri-n ltw lu!if
.1, (limit to assent to such an cs'.mn.e.
The committee, to dctetnvne the extent of the subject, siiould have looked r.t tb 1:
boundless territory wh.clt bos wrst o. Hie ' ,;rantt and donations 'cf laud States immediately named in the emend-! (oyrryt t:,e tixt enth soctnent, and width will claim its benefits the j ti .) moment they are admitted into the u- Improveirent ia the Mi.issipfederaey. It is idle t- 'uppose tliit their r f'"1 ''io rivers, ran l riaimcan tc resisted, nor do I imagine I I'nmberland road . . , . r .1 . .u.. ,1,,,,, i 1 ivr per cent, fund tone stirthat tne adverates of lb s plan tontcm-, 1, phte any other rcsu.u I he consequence ; J ir, that Iowa, or any of the TeiriCiries, j roniiii" into the Union with f0,r.0i. in!i:d.i-'
tants. will claim an immediate cession ol
and directed the legislative councils of the country to the same ends, would not have been aroused. The moneys iceeived hy the Slates from the lands were
directed by tne bid to speeific. obi
1 licse wcte, to purposes cf internal im
provement or the payment of debts cou
nt session
w . . . -
Mim a more absolute mastery over his own -Now. sir. it ts in the nnw-er of ibis Gov
' t . . . . . I 7 ' "
. estate ;anl tlso only limit to the powers 1 eminent, without in the least imnovcrish-! about the pavment of the principal Th'a
o. the .National Legislature in tliis respect ing iiself. or transcending its proper part however, I expect to have but little to is, that conscientious obligation which J sphere of action, to allot this rich domain ! do with, for most of those that have tho binds it in the performance of all its du-j f a thousand millions of acres to the! heaviest burdens now to bear, will be rone drain rrincn' I-. -!, r, II.. ia ,r I ,n nnn n C... . . 1.T . ! , y. !
w. .v. .wi.ov.li, .iiv- nuiuic ..-I jiti.-jjn,- j c.aics, am: inus to relieve our people irom and tiie States. j interminable and hereditarv trxes. Sliall Many powers ha ve been exercised by wc abuse, bv vile inaction, this capacity Congress which the Constitution has not j t0 do good." and incur the execration of df legated in terms. For example, Con- our constituents? Is this confederated gtess have made investments in Slate j Government a mere machine, to run in an slocks; they have remitted duties to rail-1 endless circie of inanity ? Are we forever
roan companies and otner r.sociation?, to ; to bcsttlino- first nrinciules.
sipply which other classes must bo taxed;' the blighted flowers ot early sur Iw, trn frit-mi d ,n nr. - f l l. ! .. .1 . 11 f .
.... . y.... 11. (in ixiii. ui im.- 1'ini" yci'i no triiitf lias tbe Uon'ilution n
to tne new atates, and grants oi land; ihey have granted pensions jind houiiiics
to tiKiivmu.-os; tliey Have purcliase.l tern-; Pir, iVC tn.iv sit here in cold (hdibcration. ; tury beyond the limits oflho treaty of 173.! holding i" iQ Fcr-ple the doctrine "ihat and foimed out of confederate States, j they expect too much from the Govern-' and they have m ule scientific explorations, j men'," and escape under the eer.crous !
.Not onu ol these but is ot more equivocal fbihcarance which accompanies a state of:
to eternity before it is due, and leave their children and property to pay the debt. First, the debt which is as follows! Xo. 1. Bonds soiil for tho Wa-
ba?h and Erie canal. Xo. 2. Bonds sold for banking
viiiiiiiv. and is our theory of (.loveniiiionl ;
a mere abstraction f In orrnnaivt
winch, l.kc rurP
ill'', siiaii Xo. .1. Bond? rold for LawrVh
and Indianapolis 15.. Hoad.
lies.
o. 4. Bunds sold for Madison
and Indianapolis TJ. Road, Xo. 5. Bonds sold for Bank stock on account of the 4th instalment cf the surplus rev enne.
$1,727,000 2,390,000 221,000 221,000
cts. ! 15 Mil
authority than tiie cession ot the proceeds prospcrifv, but, in such an exigency ns the i Xo. G. Bonds left with the Mof-
ot ,i;e ianus to r, tne Mates. ; present, oli.erand sterner duties invite usj ris Canal and Banking Co. I he Senator from Missouri (Mr. Benton) j to aotion. Sulus pomdi funrema lex. and . to be exchanged for othee
nam at a proposition wmc:, tie says, ,.t ,nn abide the eonseciuenees who will :
is to withdraw four millions c;f annual rev-1 not come to the rescue. What is our!
t 1 !. i t f t
taoso " " tneieior, oi euneaiion, and ot llie
Mates emhiaeed in too b;Ii, anions other
i;.iu:r. with tho withdrawal from
st u. s ol" the follow-in? apv.r.mriations : i coion zalioti ol free blacks. Thus slimu
lated by no exciting influences, and thus pruuentiaiiy checked, v-hat monuments would not the Stales alreadv have built in
$7,017,510
G,9Cn,?74 10,2! 1, 2G2
aid t f commerce? what prouder monuments in aid of science and of intellect unburdened with debt, and endowed with means and capabilities for progressive achievements in these great objects of pit-
34,171,076 j riot ism and benevolence through an un
told series of vears!
I Tii's Io?:, it is true, they distribute thro1 j By a report fmm the Secretary of tiie
enne, to lie suppl ed by additional duties! Union when tbe
upon imports. It it be suen an outrage . Confederation when its links are broken?
divert this tour millions (the annual i Strike out tiie stars fr
to
States are ruined our
its links arc broken ? 'mm our national ban-
proceeds ot the binds) Irom our exenequer , ner, and it is nothing but a piece of buninto the treasuries of the several Slates. ! i;2. Sir, the distribution policy will conhow much more severely do we wound j trl the next Presidential election. No, the Constitution if wc annihilate these i I mistake. Hefore that lime, mwlor dlfT.-r.
proceeds altogether, and dry up this source j ent counsels and another Administration,! uf revenue? And yet, sir. the late Presi-! ih;s measure of safety and of benificencej de( it has made this verv recommendation. ! will have onsen! Too 'ibcnfiliP T'..;.,i. ,v;n
no longer prove a barren sceptre, and the
Bonds in England, which sva sai 1 to be informal, Xo. 7. Bonds left with the Morris Canal and Bunking Co. to pay interest in Jau'y 1939, Xo. 8 Bonds sold to the Bank in Buffalo, X. Y. Xo. 9. Bonds sold for Interna! Improvements, prior to 1S39,
294,000 S00.0OO 190,000 232,000 5,932,000
their linds. The average area J1;01, n,:,i( f eiyhiv vears (the I. nmh of j Treasury, made in 183S, it an--en's that ifo.rce of revenue." And NYcs'crn State js .10,oo iMO actes; th.s. 1 ,1,;, rf!M0,j',o',c ,,,-ctssary to dispose ! the land bill of JWJ had passex', the Si.uce recoriXmend such a disposit divided among (l,(K.O m.ulr.tants, ,f an(1s) j.,,, ,liC Statos interested ,.; would have received, up to the 30th of! sh-U Rarely reimburse ex
1,0 il i acres to rr.rn pei.ai, ...... " " i iu,r))Vemer.ts would Innilv be wil- ' S ptember of lint year, the sum of
l.onily ot s,x persons .j.tpuo acres. i "-, , j,,,,.,,, a, po eriiieal a period of j 227,230. Of this, the share of Ohio ty five per c nt. of this (their proper in-1 xhf nlirj! ,;)0 nn!.. l(,hl which would have been $1,557,932; of Indiana,
teresi) woum g c .ocaui ; ihov have upon the pecuniary jiairouage 01,7137,551
1,0..0 ncrcs. Ubat nn r.ppcal io inc ct. e ,i,c Govcinmcnt. In evetv aspect in ! and of .New York. fiS,lJ0,lU3
n-iruoiuii niii.ii... in..-. i..:,.rii
pidity of our
wl
Alabama, $1.9l5 .931:
i'hese
1 . i . Ml-.l . ...
What clamorous demand v.oi it u -,ci. . ;, j;,;,,,, cr.t.tl :s f.,ll v
the part el the I emion's, ir . n. . .i..- . :,dmwti:iii 'who the Union! What c m cts '
with voir authority! How wd tu'o o, nf! ni in their cup, and
the legislation of the infant
this p'lm of con-1 aou'd have been the sums of money re-
f objections not to ; cuived by liiose States in addition to the
h Ibis annual message of December, 1832. General Jackson says: "It seems to ine to e our true policy that the public lands si. I! cease as soon as practicable to be a
he proceeds to
on of them as
This !
11,557,000 This tabic shows all the State bonds that
triumphs of the Constitution w ill have ; have ever been soul according to the Rebeen proclaimed. j ports of the Treasurer of State, and tba Senators have chosen, in the progress r.f. Fund Commissioners, but there is an unthis debate, to dei'ulo the principles uponi funded or floatins debt which must be ad-
xpenscs. i ins; ,.,., ;,, ;. ....
. : . r. .i. l i i -i, c
,i3 srssiun niici iiit; i-iiuj ijjii had cn first introduced and passed tiiis boiJJ,-,. and yet the Senator from Missouri nOiv conrleme.s it. as an affirmance ol I he very principle suatamcd by General Jackson.
For myself, sir, I subscribe to the doc-
ei.;: .: :'
Su.tts ! It:
thetc can b anv r.j.p.iabcc to teir.pt to. pi pul.i-ioti from" the old Statfs into the Tcrtitor'cs, the wit of man could net de-; vise a nnrc cfuctinl one l!r..n tin-. But. sir. it will give tiiC to other and; nrmMd diiiicMdes. The F-deral Gov; raiment will be ba-kw.itd to xt.n-.Uisi. : the Ind at. title tvithintbc Tcrr.lotus wnen I . tnnrn to the PCet'i"! 'f
lllv u,:il. in i . . sb.v.o T.-rrltotii -t so soon as t'.o y 5U; or
!.--. .........
nveti " 'l he :.:
of
;.t ti r
of t'nO f. . .... r ir;;-.Mn n.' r; p
IIIICCI IIH ol I liC 1
voii.l S:a
f
iii m ii;g
:'d-
e! II
ti e I: ih'S e f ti. llid'.iiil woui
In..';.
i,
iivu per cet;:. tccr'-mg to the new j (rum that the linos ouglit not to be a States, and to tin: expenses iiiciticnt ti sot.ree of ordinary federal revenue, in
In tid'iiiioii to this. tl ir m inngcment so many -ucstioe" ol
1 l?itH)' Slate pobev. ol j nring tntercs's, and ol
ae.rt mer
en mat Administration has been
They mistake (he
type for llie event, nnd suppose that n pbrenzied majority will erect a log cabin upon the ruins of the Capitol. We rejoice, not, sir, that the log cabin has been brought to Washington, but that power has been transferred to the lo r cabin
ded to the $11,557,000 as follows: $11,557 ,000 Amount due the Urancl.es of tbe State Bank for advances on the ptiblio works in 1539, amounting with interest up to July, lc41, to 692,4C3
that tho Capitol lias been removed k. Of Treasury Xotcs redeemable the country That tho People haveexer-l ;n is.ii
... ... .- .-,
!.;nt V w bicb was
ive rec.
ol iaiui io tit ike her
H.ts ti Oii;t), ami
equal with for-j patriotic nccommodation arc tiinficu tnat the oihcr newi li.cv furnish loo une-irt-ii.. u '.. i.c : -;:!
tiiU
iiiiJ C'
uanized into States. Tbe unin.-.m poli.y; ';'n y'c . .. -i -i . .:, ...:.t. Mates, a
iM ot:i. a d st: : ho las..!
Union, is n renew-il of a measure oii'ereu
nine: ve:iis ;: Iv poother distinguished i States tiioir pn.pLr proportions to reach j tiie competency of this Goveiiiui.
Senator fmm ti.e same Slate. (Mr. Clay.) wi.it it twiec p.i.-iietl ti 's body, and vas coiieni ;ed in by the p? puiar br .iuh by 1 .rgo s:;-j';;:tic, ' "t t'id mt tr coivo the r.vnriit'.ve aruii v.d. It was then r. me.is-
rn ,,f l.i r.elit mil cf fruitful hope: it is', have, cntaiio.i upon v.r, that connter-poiiev I me bind Intnl. 1 tint tbiection, sir, is giv-: CVerv struggle
. I.'!... ... !..'... ..I. .... I ... ......!..,.. .. .1 . ...I .1 f. . -n Inn Tnuitli nlfllt lllll fr rnMS'l iMllllll. ;
ii, .v 1-.-. tnr-r.l:i 1. Uliei! WO It II I arj 11) llliai. '- 1 1 -r.ni i- IIUU. .1 11.1 L' I S - i"'"-
to i,nrnl rrciiiiiatv Condition ol UiC OI W mtll .1.0 now Hue w at c rs ol bit terncss
' I .- .
.ist it with wliat it nroba- i u om ii.outlis!
ii tin: author of the! alizo fiotn impost? all that is necessity for
iar.d bi'.i of 1SJ2 desjrves wiiat posterity itsccnnomic::ladministration, blended wiin wtil award him, pi.ipiiu ii remembrance i h:oh interest.- so immediately connected
ciscd that icsiuii.i.y ?ovn ahv.-ivs their own. and w!i
ii'cii Siincn.'.i out" to sje-'p 'iiai. iiowev
cr tiie ".iivine fglit"' . . ru' may ;n-talj ' ...o .....cr.. . . :n ii ;e.n,"'r.m palace, or iii the Kiein'.iii, in this count rv its anpKipri.itc residence is in tho thalched cottage of ti.e American ci:i.m. Li.i rof.t Semen cavil et liio watrh-wovds cf
ihiid.
!i I ertoiiire has ;
... .1.... l !
.
trom I.IOSJ
his ccttr.tiy, wh.u must we say of j with the system of impost duties, plainly ; ueerv:V. "Tippectmoe1' is now another
o.io.iiisii.iiois our
.ffd.s who I indicates another and Letter direction of ! lilir; fr 1 beily, and henceforward.
Am'tof " 1512, Am't due contractors for work tlonc in 140, on the Wabash AV Erie Canal, Supposed amount due to individuals for suits now pending and damages not yet assessed, and accounts unliquidut-cdr
687,C0O 595,000
60,000
50,000
in '
for hum in rights, and in;
$13,657,433
... i. r.ti s. a :o coiiii
f the (.oveinment lias ncen o Bxii..fcu.Su , . , , . . r-euikmcn sav that li.o distribution
those idles a- f.st as praticable ; but now . L).cf,ni(, a .nv. amj vv!icn e review j is unconstitutional, and in violation of the lb -a the ne.gi.boring settlements have ten- j j,, gcrics 0f nieasurcP which! deeds of cession from the original States, dercd the Indian lands moi J valuable, , - )(iC vear3 havc mked the j In opposition to this view, 1 shall not tere w.il be a constant stn.gg.o between , cf ,ho Go'vemmei t, and their in-1 detain the Senate to recapitulate at anv
the lem.oncs am; .e ...,u , m .... ( .. policy of t!ie Stales, it hngth the argument which has been so rdue. I. bis 11 :,..crM,J Joss w'nioh manv years of wise legislation country. As to that potuoi. of our tcrnlui.ons tnat, om.dst tbe j-r i in.cr -. 3racc5; ?nnire to restore. When to, v ceded by the old Strtes, it cannot be of States, ti.e Government lias .uwa. ,...,, ,, flf iS.T was nctralivcd i denied that Confess hoi..s it in tr.i,t in
l .! . ....loih, rr.lii.n lo- I nit . . .
I IIIU I. .... .......
and is demanded by a force and demonstration of authority which the people have rarely cxetted upon their legislative functionaries. We cannot if we would shut our eyes to the condition of tiie States.
Laboring under mountains ol dent, 1 will British government was invented in the
nol say that the burden of interest will, in j woods." For thu fiist time in our history,
. I I l. ' .r .l Af .1
every cou'esl between lue tuiet auci tne uei.uci irom mis ami ior mu ruled, to the hopes of the patriot deliver-'. Treasury notes redeemed in auce fc.h.dl come fic.m the wilderness, nnd) payment of taxes, io. 200,000 the stir of tbe West is the sign by which'; ' he shall conquer. ' j $13,467,433
Moutesquie says that "the fine system r f Deduct the anrt ot Mateoonu.
in the hand? of ttie ..lorns
tireserved
' . . ... 1 ! -
wards its provincial appenuac., mu m ritories. Let the plan of cession succeed, and this relation will be biokcn up, and in
its place will be substituted tho most cold nnd Litter rivaWy. One of the Stales named in the amendment. Michigan, has remaining within l.er limits about eight millions of acres of Indian lauds. These binds lie adjacent to hake Superior, and ate or little value. You bad not many thanks from Michigan when you gave her them; binds in lieu of those valuable possessions oil the Maumee bay, and her oratiiinlo will scarcely bo increased when
you require her to pay out of her own collets for the extinction of Ihe Indian title. I cannot omit, before concluding my reniatks upon this topic, to inquire, what would be the condition of Indiana if this cession were accepted? Evidently one of positive loss. There arc remaining . .1 - i- -. ..t t...r..n.. ;. i.,,i;..
WllllIU llie IIIIIIIS mumim, niviuuuijj that part of tbe Miami reserve not yet purchased, unsold lands amounting to 5, 700.508 acres. From this deduct the sixteenth sections reserved for school purpose-!, and the canal lands, (in all about rr. I 000 acrcsA and there remain .r),055,-
f,08 teres. A large part ol th.i s refuse land which has been in matkcl from twenty to thirty years. Tho whole cannot be mtimstcd tt more tbn seventy five centper acre, miVinj a r.m of 'l rl -
bv the President, ti.e States were involved j .mst 0r all the Mates, old and new, and in ti c most trivial amount of debt. At not for tho people of ihe Stales. In this
i . .i ..,.....iJ ,.ri , i t , e
rerpttl lliu tui.i;cu3 i ii. u j'lim mi: ferent from ordinary revenues which arc collected from the People, and for their
benefit, and not ior the use of the States
i the present time the President estimates
the annual interest upon tnetr ticuis io uc twelve millions of dollars, which, at six per cent., makes a principal of two bundled
million3. It is easy to trace tms ruinous i he States are, then, partners in tins great condition of the States to its primary 1 land fund, and Congress the trustee. There
most prominent among wlr.c.li j ;s m, principle in law or ethics which pre
vents a trustee from surrendering at pleasure a trust; and into whose hands cr.n he make the surrender but those of t lie cestui que. trust the beneficiary of tho trust? And here this argument ends, and conclu
sively, ror it, according to the very
causes.
stands the defeat of the distribution hill..
At that time your 'Ircasttty, from nn abundant commerce, (tbe fruit of an antecedent wise administration of the Government.) was redundant, and your revenues outran the necess;ties of the Government.
Instead of withdrawing ibis excess ft cm I tcrms of the deeds of cession, this be a
of
po-
our Exchequer, (which would havc horn tnist for the use of ihe States, it must, effected bv giving 'he proceeds of tho necessity, be in their several and cor
lands to the States,) 'he whole ol our revenues were removed from their accustomed depository, 'be Bank of the United Slates, and placed in the local hanks. Instructed bv the Secretary of the Trcasuty, these banks immediately increased their d srounts to an unparalleled extent, and IWdqd the cnuntiy with currency. Sud.Icnlv a wild and infuriate spirit of speculation overran the land. Individuals and
Slates were huriied by an irresistible nnonlse into the most extravagant enter
prises, the sequel of whi'h, on the part of tho Stales, is found in 'he talo of two bundrrd millions of debt. Meanwhile, our nstom-r.' n rrnlinu-
rate capacity. I ne contrary idea cannot
he found in our system. It was the States who sutrendeied to the Federal Government all the powers contained in our Con
stitution ; Ihe most of these powers, in then
exercise, operate upon the People of the United States, and the duties of the Gov
i retnent inure to their benefit. But here
is an exception in the very terms of the chat ter. I cannot, under our Constitution, conceive the idea which has been expressed by the learned Senator from South Carolina, (Mr. Calhoun,) of States in their aggregate capacity. I can in their federal capacity; and if in this capacity they were intended to hod thrjr interest in the
a year or two, become insupportable, and j
that their t.uth wilt no dishonored, because I believe they will sustain their honor at any sacrifice. My own Slate (Indiana) is largely a debtor State, but, during the suspension of 1S37, she was one of only two Stales, I believe, in the Union who met her engagements in specie. And she will continue to do so. But a few days ago I saw a notice from her fund commissioner of his readiness to pay her present
January instalment of interest.
Here Mr. lay, of Kentucky, inquired whether tho State of Indiana had resorted lo new loans for the payment 'of interest? Mr. W. proceeded: Indiana has not piled Pelion upon Ossa. She may, foi
the lime, have appropriated some domestic funds for that purpose, and has been aided by her bank. But what will be the condition of the Stales when their vast amount of principal fills due from IS 15 to 1S05? A worse blight cannot fall upon the prospctity of the States than a largo and permanent debt. Our policy, iu that respect, is essentially different fiotn that of England. We could not survive such a debt as the British nation owes to its own subjects. The debt of Great Britain b equivalent, for the purposes of sustaininj.
population, to an enl trgcmcni oi per em pire. Men live upon stocks there as they live upon land here. It is the garnered and the hoarded wealth of ages depositee with the Government, nnd the income t
the owners is guaranted by the industry o!
her millions of artificers whose laborato
nes arc the workshops of tho world, am
the territory notthwes'. of the Ohio river has given a President to the Union one connected with all the labors.
with all the experience, w.th a
the glories of our mighty provincial settlements. It would be slrangc if, under his administration, that social and political
i development which he so happily begun .. . i .ii. .
in the vahey ot tne Mississippi snouni noi
Can:l and Banking Co. which ought to be returned, for which th State has not been called on for interest,
490,000
$12,967,433 This is the amount that the State has to provide for the payment of the interest; some of it bearing 5 and some 6 per cent, interest. The interest on the entire debt for 1S41 is $68:,371,nnd the means, in part,
be urged onward until ihat great region hed the destiny for which the Al
mighty designed it part and parcel with to pay ihe si....c, t . io..o.s tiie Atlantic States of one great confed- q'he amount paid by the State
crated empire borrowing from the old
"Thirteen the glories ot tho Kcvoiutionary era, the last great drama of which was acted west of 'he mountains, and imparl-
ino- to the mother Slates, through every
;.issitude of t heir future history, that vig
or and puiily which we trust shall forever . .- , . i ii
reside in the pcacdut agricultural vuuejs of the West.
A Dr.riMTtoN. "I say. Bill," called)
one uov to uiio-.htr,"what do ihem musical chaps moan bv an Acrordian?" "Why, doirt you know it s them fdJtcatcJ hellowses .'"
,by the tuxes which Bhe draws from ihe) pride thorn.
J. 1). Logan, formerly editor of the Buckeye, now publisher of tho Louisville Messencer, perpetrated matrimony a few days ago. "Oh, what men dare do! what men may do! what men daily do?" If wo dig down to the root of our trou-
bles and vexatious, wc will be npv to una
Bank The interest on the 3rd nnd 4th instalment of the Surplus Revenue, The interest from Lawr'gh and Indianapolis Rail Road Co., Interest from Canal lands, Canal Tolls, Interest on the Sinking Fund, Tho tolls on the Madison and Indianapolis Rail Road,
$69,000
49,000 11,000 22,000 10,000 60,000 10,000
$230,000 Deduct this sum and the balance to bo provided for i. $453,371. The Slate has a suspended debt of $3,559,791, the interest on which is $213,587. If we receive but one-half of that amount this year, though Mr. Stapp thinks it may all be relied onaftcr July next, this would leave $346,573 to be raised by taxes. Now fix for the baof taxation the whole taxablei of Indiana ar $140,000,000, vbicta Is wjtbJo
i4;