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Of a long standing funded debt: peri

 cd tl!ii;;stt that cannot be sensiibiy retarded, Q

 the natural consequences of it eluded

 without proving disastrous to those wb,

 may attempt either, if not to the coun

 try itself. When it arrives, the Govern rnent wouldf find itself in possession of ;

 revenue of Si0,000,00e or Sl2,00O.O0(

 II not previously disposed oi, which orc sehts the important question what pre-.

 vlous disposition ought to be made; i; question which must press urgently for decision at the very next session of Con. gfess. 1t cannot be delayed longer with out the most distracting and dangerous consequences.

 The honest and obvious course is. to prevent the accumulation of the surplus in the Treasury by timely and judi eious reduction ofthe iinposts ;and therc- by to leave the money iH the pockets oi those who make if, and from whom it cannot be honestly and consttutionalIy taken, unless required by the fair and li- gltlmate wants of the Goyernmcnt.- If, negiecting a disposition so obvious and just, ,the Government should attempt to keep up the present high duties. When the money was no longer wanted. or to dispose of this immense surplus b. enlarging the old, or deyisine new schemes of appropriations; or, finding tsat to be impossible, itshould adopt the most dangerous, unconstitutional, and absurd project ever devised by any Gov ernment, of dividing the surplus among 4he States; Ia project, which, if carried Into execution, could not fail to create an antagonist interest between the States and General Government ou all aeestionscs appgo; ;5I isiieiis, iiaicia " ouiti certainly end iD reducing the latter 10 a mere office of collection and distrifu- tion;) either of these modes would be considered by the section suffering un- der the present high duties, as q fixed determination to perpetuate forever what it considers the present unequal. uneonstitational,a and oppressive burden; and from that moment 1t would cease 10 look to the General Government for re- iiei. This deeply interesting period. which must prove so disastrous, should a wrong direction be given, but so for tunate and glorious should right one, IS just at hand. The work must eom- meace at the next session. as have stated, or be left undone, or. at least, be badly done. The succeeding session would be too short and too much .itat- ed by the Presidential contest, to afford the requisite leisure and calmnes, and the one succeeding would find the eoun- try in the midst ol the crisis, when it would be too late to prevent an accu- of the surplus; which. l haz- ard nothing in saying, judging from the nature Of men and Government. if once permitted to accumulate, would create aninterest strong enough 10 perpetuate itself, supported, as it would be, by otE- CTS so numerous and powerful; and thus would pass away moment, never to be quietly recalled, so precious, if proper ly used, to tighten the public burthcn; to equalize the action of Government; to restore harmony and peace; and to present to the world the illustrious example, which could not fail to prove most favorable to the great cause of lib- berty every where, of a nation the freest, and, at inc same time, the best and most eheaply governed; of the bigh- est earthly blessing, at the least possible sacrifice.

 is the disease will not, then, heal it. self, we are brought to the question, can a remedy be applied? and, if so, what ought it to be?

 To answer in the negative would be to assert that our Union has failed; and that the opinion, so common before the adoption of the constitution, that free Government could not De practically extended over large country, was cor rect; and that ours had been destroyed by giving it limits So great as to compre- bend, not only dissinilar, but irreco1- cileable interests. am notprepared to admit q conclusion that would cast so deep shade on the future, and that

 would falsily all the glorious anticipa-

 tions of our ancestors, while 1t would so greatly lessen their high reputation

 for wisdom. Nothing but the elearest

 demonstration, founded on actual expe-

 rience, will never force me to concla-

 sion so abhorrent to all my feelings. As

 strongly as I am impressed with the

 great dissimiIarity, and l must add, q: l truth compeis me to do, contsariety c interests in our country resulting iron

 the causes already indicated, and whiei

 are so great that they cannot be subject