The New Hampshire Gazette

The Deposit Bill.—Our friend of the Newport Argus, again takes occasion to comment upon our opposition to the Deposit Bill. He says that we "represent the measure as recognizing the principle of raising a revenue for the mere purpose of distribution." and thinks that "no view of the matter can be more incorrect and untenable." Though we are not prepared to say that the measure recognizes the principle of raising a revenue for the mere purpose of distribution, yet we believe it establishes a precedent by which that purpose may be subserved. Our opposition to the distribution system arises from a belief that the measure is unconstitutional, and we object to the deposite bill because, in addition to many other obnoxious features, it is a mere apology for distribution— a paltry subterfuge, by which it was supposed the constitutional objections could be got rid of, and the Executive induced to approve it. We freely admit that the circumstances which tended to produce this extraordinary measure were peculiar and that it required no common sagacity to apply a remedy which should fully meet the exigency, yet that remedy was plain and palpable;—nothing more was required than to bring the tariff within the constitutional limits. if this had been done the disease would have cured of itself. But when legislators endeavored to remedy one unconstitutional act by the passage of another, it became the duty of the press to condemn both. We, at first, adopted this course, and we can see no good reason for changing it.

As to the charge of our condemning its supporters, it certainly could not be expected that we should approve the conduct of the authors of an act which we believe to be anti-republican! Our motto is, "Principles, not men," and we surely should be wanting in fidelity to the Republican party if we suffered our predilections for the latter to overcome our attachment to the former. The long array of names in favor of the measure, paraded by our friend of the Argus, is no evidence of its correctness. All the wise men of christendom maintained that Ptolemy's theory of the solar system was correct, and when Galileo and Copernicus endeavored to establish a system more in accordance with the celestial phenomena, they were excommunicated as heretics; yet a Kepler and a Newton have demonstrated that Galileo and Copernicus were right and that all the wise men of christendom were wrong.

The truth is, neither the distribution bill nor its lame apology, the deposite act, are in accordance with sound democratic principles, and to this conclusion must our political brethren ultimately come. The idea of benefiting the people to whom the money belongs, by depositing it with, or distributing it among the States, is too preposterous to merit attention. The only manner in which the money can be returned to its rightful owners, is by a reduction of the tariff to a standard so much below the wants of the Government as to absorb the present surplus in its future expenditures, or by a distribution per capita. From the many evidences of 'log-rolling' which we have recently seen, and the want of nerve exhibited by our strongest men, we doubt if either of these expedients will be adopted.

It may be presumptuous in us to call in question the patriotism of our Senators, Messrs. Page and Hubbard, or to charge them with being duped by others. So far as it regards the action of these gentlemen, the deposite bill is out of the question. They both voted for the distribution bill of the Senate, and every intelligent politician will at once admit that this was but a substitute for Clay's famous Land Bill, which met with such vehement opposition from patriotic and intelligent Senators. If Clay's Land Bill was really an anti-republican measure, and of this we make no question, the conclusion is irresistible that the democratic supporters of the distribution bill must have been deficient in patriotism, or they were duped by the cunning management of their opponents! Our friend of the Argus may take either horn of the dilemma he pleases. We have no wish to be considered captious with regard to the measure, or censorious upon its supporters, and with this view we have forborne to discuss the merits of the measure. Our own opinion is that they were deceived by the feverish excitement of the occasion, and we confidently hope that they will, in the present session, do all in their power to remedy the error;

Our friend of the Argus deceives himself if he supposes we are in favor of collecting money from the people for the purpose of giving its income to "private banking corporations." Our doctrine is that the tariff should be so modified. as to produce revenue sufficient for the wants of the Government and no more. By adopting this principle, the people will be relieved from the monstrous system of wholesale swindling which the compromise act of '31-'32 has already produced and is still producing.

[The Claremont Eagle thinks that the most obnoxious part of Gov. Hill's Message is that in which he recommends a reduction of the tariff. We consider this one of its redeeming features, and it proves conclusively that Mr. Hill has not yet fully determined to join himself to the worshippers of false gods.

The Surplus. -It is estimated that there will be $36,000,000 in the Treasury on the 1st January next to be distributed among the States, It is computed by statesmen and financiers that this amount might have been doubled by a judicious increase of the tariff!]