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We must also rule out any plan which would materially impair the value of the United States 2 per cent bonds now pledged to secure circulation, the issue of which was made under conditions peculiarly creditable to the Treasury. I do not press any especial plan. Various plans have recently been proposed by expert committees of bankers.
While these attempts to create independent States in the remote regions are now praised as evidences of the organising instinct of the American people, it must not be forgotten that at the time they were formed within the legitimate bounds of regular States and seriously threatened to impair their domains.
The old painters, great as they were in art, lived in ignorant but zealous times in times when faith was so fixed, so much a part of the life and soul, that it was not easily shocked or shaken; as it was not founded in knowledge or reason, so nothing that startled the reason could impair it.
Convinced that the conduct of the Government has been just and impartial to foreign nations, that those internal regulations which have been established by law for the preservation of peace are in their nature proper, and that they have been fairly executed, nothing will ever be done by me to impair the national engagements, to innovate upon principles which have been so deliberately and uprightly established, or to surrender in any manner the rights of the Government.
If Congress can impose a tax of one per cent., it can impose a tax of ten per cent. or fifty per cent., and thus impair or destroy altogether the value of corporate charters for business purposes. Does Congress possess such a power? The Constitution puts no express limitation on the right of Congress to levy excises except that they shall be "uniform throughout the United States."
It is easy enough to see that if these two instincts were lacking, or if any other considerations were allowed to impair their force, the scheme of the world would come to an end. Whatever the purpose of a human life might be, that purpose would be futile, if there were no human lives to accomplish it. So that these two instincts are necessary conditions of any other plan or design.
Observance of the rule of seniority sometimes leads, especially in time of peace, to the promotion of officers who, after meritorious and even distinguished service, may have been rendered by age or infirmity incapable of performing active duty, and whose advancement, therefore, would tend to impair the efficiency of the Army.
The pleasures of passion are stormy, followed by enervating anxieties which impair the vigor of the soul. I came to the shores of the sea where such tempests rage; I have seen them too near; they have wrapped me in their clouds; the billows did not break at my feet, they caught me in a rough embrace which chilled my heart. No!
These should have been the chief figures of 'Mansfield Park. But you timidly decline to tackle Passion. 'Let other pens, you write, 'dwell on guilt and misery. I quit such odious subjects as soon as I can. Ah, there is the secret of your failure! Need I add that the vulgarity and narrowness of the social circles you describe impair your popularity?
This policy would cripple our resources and impair our credit in case the existence of war should render it necessary to borrow money. Should such a deficiency occur as I apprehend, I would recommend that the necessary revenue be raised by an increase of our present duties on imports.
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