I can
not bring myself to believe that the lasting happiness of the people,
the prosperity of the States, or the permanency of their Union can be
maintained by giving preference or priority to any class of citizens
in the distribution of benefits or privileges, or by the adoption
of measures which enrich one portion of the Union at the expense of
another; nor can I see in the interference of the Federal Government
with the local legislation and reserved rights of the States a remedy
for present or a security against future dangers.
The first, and assuredly not the least, important step toward relieving
the country from the condition into which it had been plunged by
excesses in trade, banking, and credits of all kinds was to place the
business transactions of the Government itself on a solid basis, giving
and receiving in all cases value for value, and neither countenancing
nor encouraging in others that delusive system of credits from which it
has been found so difficult to escape, and which has left nothing behind
it but the wrecks that mark its fatal career.
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