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
What has been the conduct of Great Britain, in relation to her funds?
What has carried the credit of that kingdom to a superior eminence, but
the attention she has paid to public credit? He considered these
advantages as having made that nation rich and powerful. He believed a
like conduct on our part would produce the same consequences, because
our Government is of such a nature as to give the public creditors the
greatest security they could wish. If the revenue is appropriated, and
the law for collecting it is without any limitation, the funds cannot be
taken away without a positive act of injustice, to which both Houses of
the Legislature must assent by a majority of two-thirds, or three
independent parties must unite. It was therefore three to one in favor
of the public creditor, that the funds appropriated to his use would not
be annihilated. Under these circumstances, Government might more safely
be trusted. This, he observed, was not the case under despotic princes;
their will alone could tear away the security of the subject. Under a
pure democracy, the case was almost as bad; no confidence could be
placed, because the caprice and whim of one body could dictate a change.
Mr. PAGE expressed his surprise to find gentlemen opposed to the
limitation of the bill, who had complained so much of its imperfections.
He thought a measure of the kind now proposed absolutely necessary to
reconcile these gentlemen to particular parts of the bill. For his own
part, he had objections to some articles, and for that reason, if there
was no other, he would be in favor of the limitation. It had been
frequently asserted that half the revenue would be lost by smuggling.
Can this, then, he would ask, be a bill proper to perpetuate, or fit for
the restoration of the credit of the United States? He asked gentlemen
whether they would lend a hand to rivet round the necks of their
fellow-citizens a regulation which experience had convinced them was
unjust, unequal, and oppressive? Yet the gentleman from Massachusetts
(Mr. AMES) had declared that experience had convinced him that at least
one particular article was subjected to a duty of this kind.
Mr. GERRY asked his colleague if he advocated carrying the taxes to such
an extent as to accumulate sums in the treasury for which the United
States had no particular use? Yet if this revenue law were made
perpetual, it would collect money into the public coffers after the
national debt was paid. This would be such a temptation to the Executive
to possess itself by force of the treasures of the nation, as he hoped
would never be put in its way. If our commerce and population increased,
this revenue would increase in the same proportion. He could not,
therefore, bear the idea of all this money being collected into one
spot, unless there was an absolute demand for it. He thought it
incompatible with the liberty and security of the people, and therefore
hoped the House would agree to a short limitation.
Public-domain text, read in full here on John Shaqi.
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