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
Mr. LAWRENCE thought the present was a subject of great importance, and
he lamented it was not brought forward at an earlier period, because he
feared the time would not allow that full discussion or deliberation
which ought to take place. He wished also that the House was acquainted
with the necessities of the United States, that so they might make
provision accordingly; but these two points were mere matter of
speculation as to their precise amount; yet he believed it was agreed on
all hands, that the ways and means provided in this bill for the support
of Government, the payment of interest and instalments of the foreign
and domestic debt, were, so far as agreed to, inadequate to the object.
If this be the case, the public debt must accumulate; and as we do not
know when the time may come for its extinguishment, the provision cannot
be limited; for every gentleman will agree, that if the demand for
revenue be increased, the fund ought to be commensurate to the object.
Is there any time when the civil list will cease its demand? If there is
not, there will be a perpetual call for revenue. He thought it
absolutely impossible to provide for the payment of the debts, if the
bill was limited to two, three, or four years; such a precarious
provision would never tend to the re-establishment of public credit. If
the bill was not limited, it would always be in the power of the
Legislature to lower the duties, or make such other alteration as might,
upon experience, be thought beneficial to the community; whereas if the
bill were limited, it would be thought improper to make any amendments
during the term for which it is enacted, although those amendments
appeared indispensably necessary. But why is this degree of caution
necessary? Will not the administration of public affairs be conducted in
future by representatives as good as ourselves? Will they have less
wisdom or virtue, to discover and pursue the good of their
fellow-citizens than we have?
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