Abridgment of the Debates of Congress, from 1789 to 1856, Vol. 1 (of 16)United States. Congress
History
Abridgment of the Debates of Congress, from 1789 to 1856, Vol. 1 (of 16)
United States. Congress
Law -- United States; United States -- Politics and government
Besides the restoration of public credit, he thought the act had in view
the encouragement of a particular description of people, which might
lead them into enterprises of a peculiar nature, for the protection of
which the public faith seemed to be pledged. But would gentlemen infer
from hence, that no alteration ought to take place if the manufactures
were well established? The subject appeared to him in a twofold point of
view; first, to provide for the exigencies of Government, and second,
for the establishment of public credit; but he thought both these
objects could be obtained without making the bill perpetual. If the
Government showed a proper attention to the punctual performance of its
engagements, it would obtain the latter; the other would be secured by
making provision as the occasion demanded. If the bill was to be made
perpetual, it would be continued after the purpose for which it was
adopted had ceased; the error would in this case be irremediable;
whereas, if its limitation was determined, it would always be in the
power of the Government to make it commensurate with what the public
debts and contingencies required.
The constitution, as had already been observed, places the power in the
House of originating money bills. The principal reason why the
constitution had made this distinction was, because they were chosen by
the people, and supposed to be best acquainted with their interests and
ability. In order to make them more particularly acquainted with these
objects, the democratic branch of the Legislature consisted of a greater
number, and were chosen for a shorter period, so that they might revert
more frequently to the mass of the people. Now, if a revenue law was
made perpetual, however unequal its operation might be, it would be out
of the power of this House to effect an alteration; for if the President
chose to object to the measure, it would require two-thirds of both
Houses to carry it. Even if the House of Representatives were unanimous
in their opinion that the law ought to be repealed, they would not be
able to carry it, unless a great majority appeared in the Senate also.
Mr. BOUDINOT said, the time mentioned by the former Congress, and to
which they requested the concurrence of the several States, was, that
the impost duties might be continued for twenty-five years. This request
was made on full consideration, and they did not think it was more than
sufficient to discharge the principal and interest of the national debt.
He concluded, therefore, that it was better to let the law remain
without limitation; because when they found the purposes for which it
was intended were accomplished, it would be in the power of Congress to
repeal the law.
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