K PRESIDENTS MESSAGE;
UoUM of RefftHjUalivt tkt Unitti Statttt
If any people ever hod causo 1o render
" upi thanks to the Supreme Being for puren.
tal care and protection extended to them in
II 'the trials and difficulties to which toe;
- hare been from time to time exposed, we
certainly ar Jthat people.' Front the first
settlement of wrforefnlhers on this conti.
nentthro'ugh the dangers attendant upon
the occupation of a savage wilderness-
throtigh a long" period of colonial dejnui.
" dence through the war of the revolution
in the wisdom hich led ttfihe adoption
of the existing republican forms of govern,
ment- to the, hazards incident to a war
subsequently waged with one or (he most
powerful nations f the varth in the in-
, crease of our population-in the spread of
' the art and sciences, and in the strength
. and durability conferred on political institu
tions emanating from the people and sus-
4 tajned by their will the-superintendence
- ot an overruling Providence has been plainly
..-viable. As preparatory, therefore, to en
ja, temng oncf mortrupon the htgh' duties of
legtslanon.t n becomes us numbly to ac.
knowledge our, dependence upon Him as
our guide and protector, and to implore a
,. continuance of His parental watchfulness
over our beloved country.. We nave new
cause for. the eprcs Top cif our gratitude in
the preservajiuii ot : 'in ncajtn or our leuow
citizens, wivj) some j u iial and Jocalexcep.
tions.durine'iiiei) seasoj-rfor the abun
dance with which the eajptn has yielded up
its fruits to the lubo'rs of the husbandman
'for the renewed activity which has been
imparted to commerce for the revival of
trade in all Us departments for the iq.
creased rewards attendant on the exercise
of the mechanic' arts for the continued
growth of our population and the rapidly
reviving prosperity xifLlhe whole country.
I shall be permitted to exchange congratu
lations with you, gentlemen of the two
Houses of Congress, on these auspicious
circumstances, and tp assure you, in ad
vi nee, of my ready disposition to concur
with you in "he adoption of all such rhea.
sures as shall be calculated fo increase the
happiness of ourebnstituents and o advance
the glory ofvouOQ.m.mon country. -"'
Sjnce the last adjournment of Congress,
the Executivelias relaxed no effort to ren.
dor indestructible the relations of amit)
which sq,,appily exist between the United
States and other, countries. iThe treaty
lately concluded with Great Britain has
tended greatly to increase the good under,
"standing which a reciprocity of interest is
calculated to encourage, and it is most
ardently to be hoped that nothing may
. transpire to interrupt the relations of amity
which it is so obviously the policy of both
nations to cultivate.
A question of much- importance still re.
mains to be adjusted between them. The
territorial limits of the two countries in re
lation -10 what is commonly known as the
Oregon territory, still remain in dispute.
The United States would be at nil times in.
disposeiMo aggrandize themselves at 'the
.expense of any other nation: but .while
, they would be rcsfraihedby, principles of
honor, which should govern the conduct of
nations as well as that or individuals, from
setting up a demand for' territory which
does not belong to them, they would as un
willingly consent to a surrender of their
rights- After the most rigid, and as far as
practicable, unbiassed examination pf the
subject, the United States have always coo
tented that their rights appertain to the en.
tire region of country lying on the Pacific,
and embraced, within the forty second and
fiifly-fourth 40' of north, latitude. This
- claim being controverted by Great Britain,
those who have preceded the present Execu.
tive, actuated, no doubt; by an earnest de.
sire to adjust the matter upon terms mutually
satisfactory to.Tjoth countries -have caused
to be submitted to the British Government,
repositions for settlement and final adjust.
ment, which, "however, have not proved
heretofore acceptable to it. Our Minister
xai kondotvfjas, under instructions, again
brouglij the subject to the consideration of
th.at UpernmenfjNand while -nothing will
00 pope 10 compromintie right, or honor
of the United States, every proper expe.
dienj will be resorted to in order, to bring
the negotiation now in the progress of 're.
sumption, to a speedy and happy termina.
lion. . ;In the meantime it is Drone to re
mark, that many of our citizens are either
already established in the territory, or are
forcing permanent eulement4whiieqther
t picjuuug iu iuiivw auu in view Of
lion contained ;n previous messages, for
the establishment of military posts, at such
places, on the-line of travel, as will furnish
security and protection to our hardy adven.
turers against hostila tribes of Indians in.
Dioning mose extensive regions, uurluws
should also follow them, so modified as the
circumstances pf the case may seemio?e
quire. Under the influence pf our free
system of government, new republics are
destined to spring up3,', at no distant day, on
the shores of the Pacific," similar in policy
ana in iceung to those existing on this side
y . 1 n . . - ' 0 -. . .
oi me uocRy mountains, and giving a
principles of civil and religious liberty
v; I am happy to inform you that the cases
MfViirl K Q Hi a iaun f.m , - . .1.
.iiiviiiiqigniigvii.iiuiii iiiiiq iu llli;,v ilia
J. -r i i U ... f
acKuiiuii oi American vessels oy British
cruisers on 'he coast of Africa, under pre-
tP.nm nf hoinir annn
hjive been placed in a fair train of adjust,
ment. In the case of the William & Fran
cis, full satisfaction will be-altifwed. In the
cases of the Tygris and Seamew, the Bri-1
ish Ciovcrnment admits thot satisfaction is
due. In the case of the Jones, the sum
accruing from the sale of that vessel and
cargo will be paid to the owners while I
CKnnat hut flallar mii.jr it... r..u 1 1 I
' ncotion will be.allowed for all damages bus
tained by the detention-of the vessel-and
in the case of the Douglas, her Majesty's
Government hs expressed its determine,
tion to make indemnification. Strong hopes
" tnub iuii IIIUUIUIIJ. I
" . in. m , WBI lilV9l,ll UOl
all of thrjft cases will be speedily adjuste?.
No' new cases have arisen since the ratih.
cation of 'the Treaty of, Washington f and;
itis Ibnfiueotly . anticipated, that the slaye
trade, under the operation of the eighth
arlidn ef that treaty, will , be altogether
suppressed.' " ,-.. , .
, jrhe occasional interruption experienced
by our Hilkiw.ciuzeos engaged in the fishe
ries ot the neighboring coast "of JuVa
Scotia, hns not 'failed to claim the attention
of the Executive. Representations upon
this subject .have been raador bul a yet no
definite answer to those represeutations has
been received from the British Government.
Two other subjects of comporatively
mioorrtnTporlance, bui;neveftholess,of loo
much consequence to be neglected, remain
still to be edjusfecL between the two coun
tries,;' By the treaty 'between the Ifnitod
States and Great Britain, oT July, 181&, it
1s provided that no higher duties shall be
levied in cither country on articles imported
from the otherrthan on the'&ame articles
imported from any other place. Inrl30 J
rough j-ice, by act ot rartiamcm, was aa.
milled fj tle coast of Africa into Great
Britain on the payment of "a duty of one
penny a quarter while the samo 'article
from all othet countries, including' the
ymted states, was subjected to the pay
ment of a duty of twenty shillings a quar
ter. Our Minister at London has rom
time to time brought this subject to the con.
sidcration of the British Government, but
so far without success. - He is instructed to
renew his representations upon it..'""
Soma years since a claim was preferred
against the British GbvcrHmenron the part
pi certain American mercnants, tor me re
turn of export duties paid by hem on ship.
meots of woollen goodato Ihe United States
after die uuty on similar: articles exported
to other countries had been repealed, and
consequently in contravention of the com.
mercial convention between tfie two nations
securing to us equality in such cases. .The
principle on which the claim reals has long
since been virtually admitted by ureal Bri
tain, but obstacles to a settlement have front
time to time been interposed, so that a large
portion or the amount claimed has not yet
been , refunded. Our Minister is now en.
gaged in the prosecution 6f the claim, and
I cannot but persuade myself that the Bri.
lislr- Government "wilt wlonger delay its
adjustment ' ; -.:' :
I am happy to he able to say that nothing
as occurred to disturb in any degree the
relations of amity which exist between the
U uited States and r ranee, Austria and
Russia, as well as with the other Powers of
Europe, since the adjournment of Congress.
Spain has been agitated with internal con.
vulsions for many years, from the effects of
which il is to be hoped she is destined
speedily to recover when, under a more
liberaj system of commercial policy on her
part, our trade with her may .again fill its
old and so far as her continental possessions
era, concerned, its. almost forsaken "chan. !
nets, hereby adding to the mutual prospc.
rity of the two countries.-?
vine Germanic Association and Customs
and Commerce, which, since its establish,
ment in 1833, has been steadily growing
in power and importance, and consists at
this time of more. than twenty Germanic
btates, and embraces a population of 27,.
000,000. of people united for all the put.
po3es of commercial intercourse with each
oilier aod with foreign slates, offers to the
latttxtfle most valuable exchanges on prin.
ciplcs1 ipocp liberal than, a offered in the
hscaUysterh of any other European power.
From its origin, the importance of the Ger-
manic Union has dever been lost sight of
by the United auies. .-"ihe industrtTnT).
rality and othef valuable qualitiesuf the
Germnn nation," have olwayvMqen well
known and appreciated." Ojrtbis subject I
invite the attention of Congress to the re
port of the Secretary ofyRuejfrom'which
lXlff beeen that wfe-our "cotton is ad
mitted free of dutynd the duty on rice
has been much reduced, which has already
led tq a greatly increased consumptions
strong dispositionynas been recently evinced
by that great )dy to reduce, upon certain
conditions, their present duty upon tobacco,
This being the first intimation of conces.
sion on this , interesting subject ever made
by anV European power, f cannot but re.
gard it as well calculated to remove the
only impedimentwhjcli has 80far existed
to the, most liberal commercial Intercourse
between us and them. In this view, our
Minister at Berlin: who has heretofore in
duslriously pursused ihe suhject ,-tras been
lustrocted to enter upon the negotiation of
a commercial treaty, which, while it will
open new advantages to the arricultual
interests gt the United StatesA""mBntrfi
irea ana expnnaea held tor commercial
operations, wilt 'affect Injuriously no exist.
ins interest of the Union. . Should the oe-
gotiation be crowned with success, its re
suits will be communicated to both Houses
I communicate herewith certain1" des-
patches received from our Minister at Mcxi-
co, and also a correspondence which has
recently occurred bet ween the Envoy from
that Republic and the Secretary of State.
It must be regarded as not a little extra.
ordinary thai the Government pf: MexioQ,4
in anticipation pi a puouc discussion, which
il has been pleased to infer from newspaper
publications, aslikely lojtake place in Coo.
gress, Relating to the annexation pf.Texas
tolhe Unflea States,' should have so-far
anticipated the result of such discussion as
to have announced its determination to visit
any such anticipated decision by a formal
declaration of war acainst the United Slates.
If designed to prevent Congress from in
troducing thattju'emtenr as a fit subject for
us caim aeiiDeration and nnai judgment,
the Executfre has no reason !o doubt' that
il will eliUfely fail of its object. The Re.
presentatives of sbrave and patriotic people
will suffer no apprehension of future conse
quences to embarrast them in the course of
ther proposed deliberations. : Iff or will the
Executive Department of, the Government
fail, for any such cause to discharge its
whole duty to the country.. .
l ne war which has existed for so lonza
l. -. W . rr .
time between Mexico and Texas has, since
(hf baUWof San-Jacinto, consisted for t!h
most part of predator Incursions,1 which,
while they have been attended "with; much
of suffering to individuals, and have kept
the borders of the two countries In a state
qf constant alarm, have failed to approach
to any definitive result, ..Mexico has fitted
out no formidable armament by land ot by
sea for lha suhjugalioa c-Tocas.: .Eiglit44ancer hassiuideny been arrested by a
vcars have now elansed since Texas de.
cluredhef indenendenci of Mrxico,-nd
during that time she has been recognized as
a sovereign power by several of the prioci.
pal civilized states. i: Mexico, nevertheless,
perseveres lrtter plans of reoonqtiest, and
refuses ttf recognise hert independence--The
predatory incursions to which! have
alluded, have beea .attended,- in one i&
stance, with the breaking up of the courts
of justice by the seizing upon the persoitw
of the judges, jury and othcers ot the coun,
and dragging them along with unarmed,
and therefore non-combatant citizens', into
a cruel and oppressive bondage, thus leav
ing crime to go unpunished and immorali
ty to pass uoreproved. ' A; border warfare
isvermore to be deprecated, and over uc.
waras haspexisted fot so many yearae
tween' these two States, humanity, haa bad
great cause to lament.: rior is such a, con.
dition of things to be deptortxJ only because
of the individual suffering', attendant upon
it." The effects are far . more extensive.
The Creator of tho universe has given, man
the" earth for his resting place, and its fruits
for his subsistence. r' Whatever, therefore,
shall, make the first or any part of it a scene
of desolation, affects injuriously his herit
qge, and may be regarded as a general ca
lamity. - Wars may sometimes be neces;
sary j but all nations have a common tote.
rest in bringing them speedily to a close.
The United Slates have an immediate in
te-est in seeintr an.end put to the state of
hostilities existing between Mexico' and
Texas. They are our neighbors, of ihe
same continent, with whom we are not bnly
flesirous of cultivating the relations of ami.
ty, but ot the most 'exienuea commercial
intercourse, and to practise all the rights of
a neighborhood ' hospitality, uur own in.
terests are deeply involved in the-matter,
since, however neutral may "be our course
of policy, we cannot hope to escape the ef
fects of a spirit of jealousy on the part of I
doir ot tne powers.-.' lor con mis vjurcrii.
ment be indifferent to the fact that a war.
fare, such as is waged between those two
nations, is calculated to weaken both now
era, and finally to render them, aod eapeci-
allythe weaker of the two, the subjects of
interference on the part of the stronger and
more powerful nations, .which, intent only
on advancing thsir own peculiar views, may
sooner or later attempt to bring about a
compliance with terms, as the condition of
their interposition, alike derogatory to me
nation granting them and deterimental to
the interests of the United States. We
could not oe expected quietly to permit any
such inteference lo our advantage.'; Con,,
-idering thai Texas is separated fir" the
Unued States oy a mere ceoHropnicai tine,
thai her territory ,in me opinion oi nuy,
formed a portion of the territory bf the
United States, that it is homogeneous in its
population and pursuits with the adjoining
States, .'makes contributions lo me com.
merce of the worUlin the same 'articles
with them, and that most of her inhabitants
have' been citizens of the .'".United States,
speak the- same language and Jive .under
similar poiuicai tusiiiuituus wnu vuikum,
thisUoverninent is bound by every con
8ideration of interest as well o of sympa
thy . to see that' she shall be left free to act
especially in regard lo her domestic affairs,
unawed bv force, and unrestrained by. the
policy or views of other countries. Jn full
view of all these Considerations,, the E.t
ecutivehas not hesitated to express to, the
Government of Mexico how.deepiy it de.
Drecated a continuance of the war. and
how anxiously it desired to .witness its ter
min'ation.. I cannot but think that it be
comes the United, States,- the 'oldest of
the American Republics, to hold a language
to Mexico upon this subject of an unam-
bii:uous charocter. It is time that this war
had ceased. -There must be a limit tp oil
wars ; and if the parent State, after a6
eight years struggle, has failed to reduce to
Submission a portion ot its subjects stand
ing out in revolt i against it, and whoaye
not xinly proclaimed themselves to bainde.
Eendent, but have oeeaxecognised rsuch
yotlier powers, she otwht not to! expect
that other nations will quietly lookon,; to
their obvious injury, upon aprotraciion oi
hostilities. ; These United States threwbff
their colonial dependence, and established
independent Governments ; and Great Bri.
tain, after, having wasted ber energies ia
the" attempt to subduO hem for a less perU
od than Mexico has attempted to subjugate
Texas, hadthe wisdom and justice to ac.
knowledgtfne'i Tndependence, thereby re.
Cognising'the. obligation which rested on
her as one of the family of nations. ' An
example thus set by one of the proudest as
well as most powerful nations of the earth,
it could in no way disparage Mexico to
imitate. ' WhTle, uierefore, the Executive
would depjof any collision with Mexico,
or any disturbance of tho friendly relations
which existbetween "the twg-coumriesTlt
cabnot permit that Government to control
its policy, whatever it insy be, towards
Texas but wiH treat her as by theTecog."
nition of her independence the - United
Slates have long since 'declared they would
do, as entirely independent of Mexico; The
high bbligations of public duty may enforce
from the constituted . authorities of the
United Stales a policy which the course per.
severed in by Mexico will have mainly con.
tributed to produce : and the Executive, in
such a contingency,' will with confidence
throw itself-upon the patriotism of the peo.
pie to sustaitf tho GovernmenF.n its course
of action. ' . ',. ''- .-' '' " . . v ''"
-Measures ofarr unusual character havl
recently been adopted by the "Mexican Go
vernment calculated in no small degree to
affect, the trade of other -nations with Mex
ico, and to operate injuriously to the Unit,
ed S'ates. ".All foreigners' by decree of
the 23d day of September, tfna after six
months from the day of its promulgation,
are forbiddelt ' ta carryton.th..busin!!t? of
sellint? by retail anvVooJs within tlie cop-
fines ef " 'cd.,'. ARatnit this Aidree OuTJ
Ministe "fi, failed 6 remonsirater
; i Tht ! herefbre carried on by. our
citizen.; uanta : fe, in which much
rsniial "Wus nlreadv invested, and, which
pvas beco ruing oi oaiiy. increasing impor
cree of. virtual prohibition on the part ,p(
the; Mexican Governrpehf. , VVV hatevcr nay
UG ino nK Ql-mesicu v rruiuuu out pel
licular course of trade, ta the citizens tir
subiccts of foreign powers, this late proce
dure, fo say the least of il, wears a iarsh
and unfriendly aspect.' irr
fThe instalments on. the claims recently
settled by the convention, with Mexico have
been; punctually, paid a they, have fallen
due, and our minister is engaged in urging
the establishment of new commission in
pursuance of the convention for the eetllo.
mpnt qf unadjusted claims. . ,. , j
;. With the other American states, our re.
lations of amity and good , will have re
mained uninterrupted.. Our Minister near
the renublio of JNew Grenada .-has sue
ceeded in. affecting an adjustment of the
claim upon that uovernment for the schoon
"Py Chance, which had been pending
Tor many years. , J he claim for the brig
'MdrrisIwhicb had its origin during. the
existence of the republic of. Columbia, and
indemnification for which t since the disso
lution of that .'republic, has , devolved on
its several members) wiljybe urged with re:
newed eal. . , . ;, . .v:
- I have much pleasure in saying that the
Government of Brazil has adjusted the
claim upon that Government in the' case of
the schooner "John H. Bryan, " and thai
sanguine hopes are entertained that the
same spirit of justice I will influence its
councils in arriving at ac i early decision up.
on the remaining claims! Ithereby remov.
ing all causa of" dissention between two
powers, whose interests are to some ex
tent interwoven with each other.
Our minister at Chili has succeeded in
inducing a recognition by that . Govern
ment, of the adjustment, effected by his
predecessor of the first claims in the case
of the "Macedonian." The first instal.
ment has been received by the claimants io
the United btates
Notice of the exchange of ratifications
of the treaty with Peru,, which wjll take
place ot Lima.; has not yet reached tins
country, but is shortly -expected to be re.
cei'ved! when the 6laims upon that republic
will doubtless be liquidated and paid; -
In consequence of a misunderstanding
"a.
between this Government and that of Bue.
oos Ayresoccurring several years ago
this Government has remained unrepre
sented at that court, while a minister from
it has been constantly resident here. The
causes of irritation have in a great measure
passed away, ahd' it is in contemplation
in view of important interests which haye'
grown up in that country, at some early pe
nod during the present session ot Congress,
"with the concurience of the Senate, to re.
store diplomatic relations between the two
countries. .. . . M
Under the provisions of an act of Con.
Sresa of the last session, a minister was
espatched from the United States to China,
in August oi tne present year, wno, irom
the latest accounts we have from him, was
at Suez, in Egypt, on the 25th of Septem
ber last, on his route to China. ' -r
In regard to the Indian tribes residing
within our jurisdictional limits, the greatest
vigilance ot the uovernment has been ex
erted tc preserve ther at peace among
themselves, and to ins, them with fee),
ings of confidence in tha 6tice of this Go
vernment,and to cultivait-' friendship with
the border inhabitanls." This has happily
succeeded to a great extent; but it is a sub
ject of regret that they suffer themselves
In sorne instances . to be imposed upon by
arifuL and designing men and this not.
withstanding all the efforts of the Govern.
ment to prevennt. - . ,
' The receipt. -into the Treasury for the
calendar . year 1H43. exclusive ot loans
were little more' than eighteen millions of
djllurs ; and the 'expendityres, exclusive of
payments on the public debt, will have been
about twenty.tbree millions of dollars., By
the act of 1842, a hew arrangement of the
fiscal year was made, so that it should com.
menco on tha-ls4ay oF-Ju4y ineach year,
The, accounts and estimates for the current
fiscal year, will show that the loans and
Treasury notes made and issued before the
closeof the last Congress, to meet the an
ticipated deficiency,- have not been entire
ly adequate. " Although on the 1st of Oc.
tober last, there was a balance in the Treat
sury in consequence of the provision thus
madecf 3,914,082,77, yet theappropri
ations already made by Congress; will ab
sorb that balance, and leave a ' probable
deficiency of two millions of dollars at
the close of the present fiscal year. There
are outstanding Treasury notes to about
the amount of four millions six hundred
thousand dollars; and should .they be re
turned upon the Treasury during the fiscal
year, they will require provision for their
redemption. v V do not however rego rd this
as, probable, since they have obviously en
tered into Ihecurrencyofthe country, and
wilt continue to form a portion of it, if the
system now adopted be corituiued. The
loan of 1841, amounting to $5,672,976 88.
falls duo on tho 1st of January. 1845, and
must be provided for or postponed .by a
new loan. And unless the resources of
revenue should be materially increased by
you, there will be a probabfe deficiency
for the service o; the fiscal year ending
June 30th, 1845, of upwards of about four
The delusion incident to an enormously
excessive paper circulation, which gave a
!.!.: i jt. ' ' r .
uuuiiuus vuiuo iu every iningr ano aiimu.
ated adventure and speculation to an ex.
iravagant extent,hasbeen "happily! sue.
ceeded by4the substitution of the precious
metals and paper' promptly redeemable in
specie; and thus false values have disap.
pearea, ana a sounder condition of things
hasJbeenrJntroduced.JThia transition, al
though intimately connected with the pros.
penty of the country, baa nevertheless
been attunded. swjth much 'cmbarrassmdnf,
to the Government, in Its financial cor.
corns. So long us the' foreign irfiponeri
could receive payment for their cargoes In
a currency of greatly less value than that
it Europe, but fully a vailnble here in the
purchase of, our agricultural) production,
their'profits being immeasurably augmeixi.
led by the operation, the shipmnt-wwe
largo and the revenues oi me uovernment
became euperabundant. . But the change
in the character of the circulation- from a
nomina andapparentIy--real"faTue,lili the
first' stages" of Its existence; ,f to iift obviously
depreciated value In its: second,- so that it
no lopgen answered .tho purposes of ex
change or barter, and, its ullimuto . substi.
tuiioii by a sound metalic and paper circu
lation combined, has been attended by. di.
minished importations, and- a consequent
fulling off lo the fli evenuutv-This has in
duced Congress, from' 1837, to resort to
the expedient of issuing Treasury notes,
aod-finally of funding them, in order to
supply deficiencies. I cannot; however j
withhold tho remark that it is in no way
compatible 'witb-the dignity. of the Govern
ment thai a public debt should be created
in time of peace to. meet the current ex
pehscs of .the Government or that tempo,
rary expedients should; be-.Tcsorted to an
hour r lor. ger than it ia possible' to avoid
them. J The Executive-cnn lo. no more
than apply the means which Congress pla
ces in its hands for the support of Govern".
ment ;,,and happily tor the good of the
country and for tho preservation of its lib
erties, it possesses no power to levy xac.
tions on the people, or to force from them
contributions to the public-revenue in any
form. It can only recommend such mca.
sures as may, in its opinion, be called for
by the wants of the public service, to ton
gress, with whom alone tests tho power to
" lay and collect taxc-y duties, imposts
and excises.", .This duty hai upon se vera
occasions heretofore, boen performed.7-
1 be present condition of things gives flat
tering promise that trade and commerce
are rapidjy '-reviving, and, fortunately jfor
me country, ine sources qi revenue. 11a vs
only tole opened, in order to prove abund
ant. : Xs' - "' ' ';. ; '
While wecan anticipate 06 ednsidera
blej.incrcase iDlte- proceeds o the . sales
of the public landsNfor reasons perfectly
.1...!.'.. .11-- 1
ouvtuus iu 011, tor soyeFii jur 10 yuuie
yet the public lands cannoHrthcrwise lha
be regarded as the foundation icfthe public
credit. With so large: a body oTtUo most
fertile lands in the world tinder the coniro
and at the uisposat ot the uovernment, tit
one can reasonably doubt the enteire abill
. . r . 1 . i y . . .
y 01. tne uoverunteui to nttei us eiiguga
ments under-every emergency.. In sea,
sons of trial and diuicully similar to those
through which we are passing, the com
talisl makes his io vestment in the govern?
ment stocks, with the most assured conn
dence of ultimate reimbursement : , and
whatever may be said in a period of great
financial prosperity, aucb as existed Tor
some years after 1833,' I should regard it
as suicidal in a season of financial embar
rassment, either to alienate the lands them
selves,, or the proceeds arising from their
sales. The first and paramount duty of
those to whom may be entrusted the ad
ministration of public affairs, is to guard
the, public credit," In re-establishing the
credit of this central government, the rea
diest and most obvious mode is taken to
restore the credit of ihe states. The ex
tremitics can only be made sound by pro
ducing a healthy action in the central go,
vernnient, and the history of the present
day 'fully establishes the fact, that nn in
creaso . in tho value of the stocks of this
government will , in a majority of instances
be attended by ah increase in the Value of
the stocks of the states. It should, ihcre
fore, be a matter of general congratulation
that amidst all the embarrassments arising
from surrounding circumstances, the credit
of the government should have been so
fully rej tared that it has been enabled to
effect a loan of seven millions of dollars
to redeem that, amount of Treasury notes
on terms more favorable than any that
have been offered for several years. ' And
the six per cent, stock which was created
in 1842, has advanced, in the hands of the
holders to nearly twenty per cenf, above
Ks par vahie. The confidence of the peo
pfein the integrity bf their government
has thus been signally manifested. These
opinions relative to the public lands do not
in any manner conflict with the observance
of tho most liberal policy towards those of
our fellow. citizens who press forward into
the wilderness and are the pioneers in the
work of its reclamation.- Jn securing to
all such -their .rights of. pre-emption, the
government performs bul an act of retri-
butive justice for sufferings encountered
and hardships endured,: and finds ample
remuneration in the comforts which Its pol
icy ensures and the happiness which it
imparts. - . - . . ';.
Should a revision of the tariff, with
view to revenue, become necessary in the
estimation of Congress, I doubt not you
will approach the subject with a just and
enligptened regard to the interests' of the
whole Union-xTbe principles and views
which I have heretofore had occasion to
submit,1 remain unchanged. It can, how,
ever, never be too often repeated, that the
prominent interest or every important pur-
auitof life.-fequiree for success, perma
nency and stability in legislation, i hese
cab only be attained by adopting' as the
basis oi action, moderation in all things,
wbich is as indispensably'' necessary tose.
cure the harmonious action of tho political
aaof the animal system.. .In our political
i . . . . . .
'brgamzation, no one section of the coun.
try should .desire to have its supposed in
terests advanced at the sacrifice of all
others ; but union being the great interest,
qually precious to all, ahould be fostered
and sustained by mutual concessions and
the cultivation of the spirit of compromise
from which the constitution itself proceed.
f' f.- I -Z . i trTv --i',::.;
You will be informed, by the report from
the Treasury Department, of the measures
la Ren under the act or tha last session,
auUwrizing the reissue of Treasury notes
...www ...vu uuiaiunninrr
vmni -aoopieq in persuanc r ..t. " r
ltt WS. acema welT enlcul..J '""ag "
r " I 8 amouotoi interest, white
itafforda conveniences and obviate, dn w
oera and avnnniiA in 'tKa , . ua '
p . ... . liailBmiaatnn . 1
lunds to disbursing agents. I nk, J8u ,
lha Sottrelarv la In-Mku iKa -
ira..Vlri,iHnlu-.tlnn-nK tt -,--
. - - r.vuuir I...
nn ww inn in vi an r n i r
j ,v , pviuynoi H which re
mies tojee sviojefi w iae ware-hdufe4.v,.Y
ioiii. wiiutii enrnnn.lv nrttutt - .
portance of. which: ny .opinion boi under
gone no change; v ' .i.- a
In view of the disordered condition if 1
ino curreocy at the lime, and the highrates
of exchange between ditlereni partrW tba '
cobritrf , I felt it to be incumbent upon w
to nresenlto the conatdernlinn nfu... -a
. V . . . J"' ire.
i!CGR9ra. a nmivuiilian Pnnili.iin. : '
wiui iiib .uiisiiiuiiun, or With tli.r
t.u. . - II . .
rigitis oi ino iioies, anu navingrllie sane,
tion, not In detail, 'but in principle, ;of ior
of the most eminent men who had 3
iAat n.a..n (Iia l?vaa.li.iA , (T. rwK.
proposition contemplated the. issuing of
i reasury nojes ot denominations not k
...v ..v,u,viv iu'u.uiia tiuiiurea aou
lars, to oe employed in payment of the oK
ligations of the goveiorneqi id lieu of tfolj
and silver, and to an amount not exceeding
to,00O,U00. It was proposed io maks
them receivable every where," and to estaV
lish ar various points depoaitoriei of gold
-ond silver to be held in trust for the re.
demptiop of such notes,, so as to ensurs ,
theVconvortibility into specie. No doubf'
was eqtertained that such notes would hart
maintained a par value with gold and silver,
thus furnishing a paper currency of equal
value overthe Union, thereby meeting iht.
just expectations of the people and fulfilling"
tho duties of parental government.-
Wuetherhe depositories should be per.
milted to sell or purchase bills under very
limited restriclionsgcthefwiih all iu
other details, was submitted to the wisdom
1 of Congress, and was regarded as of
fcondary importance, I thought then, i
se-
and
think now, that sucb an arrangement would
have been attended with lhehnppiest re.
suits. The whole matter of tbecurreney
would have been placed where by the cn
8tilulioa.it was designed lo be placed us.
der the immediate supervision and control
of Congress. - The action of the govers
ment would have been independent of all
corporations, aud the same eye which rest
unceasingly , on the Specie currency and
guards it against adulteration, would also
a! have rested on the papercurrency,taeon. ;
.. rtrol 'and regulate its issues, and protect k I
agaibs depreciation. , Tho same reasons
which WBuid forbid Congress from parting
with the power over the coinage, would
seem to operate with nearly equal force is
regard to any substitution for the precious
meiulaia the form ofacifcalating medium.
Paper,, whea substituted forspecis, con.
slitutes a standard of value by wbicb the
operations of socioty are regulate, and
whatsoever causes its deprecialjoa, sfiacu
society to an extent nearly, if not quite,v
equal to the adulteration of the coin. '' Nor
can I withhold the remark that ifS advan
tages, contrasted with a Bask of the United
Stales, apart from the fact that a bank was
esteemed as obnoxious to the public senti
ment, as well on the score of expediency
as of constitutionality, appeared to me ts
be striking and obvious. The relief which,
a bank would afford by an issue of $15,-
nnn nnn P . Ianm iWa a.
uvv,jiv oi its nuies, "
perienceof tbo late United Stales Bank,
Would not have occurred in less thao SHcen
years ; whereas, under ihaproposed ar
rangement., the relief arising fronHin
-a.. t try K.na
sue 01 91D.UUU.uuu oi x reasury uuiw
would have been consnmirated in one year;
thug furnishing in one-fifteenih part of tbt
time in which a bank could have accom
nlis'lted il'. a naDer medium f exchange,
equal in amount to the real' watts of the
country, at par valuo with goia ana surer.
The saving to the government wouiu
been equal to all the interest which it ba
haJfo pay on Treasury notes of previous
as well as subsequent issues, therebyvre
iieving the government, and at the same
time affording relief to the people. Under
all the responsibilities attached to tne sta
tion which I occupy ,'and in redemption "
a pledge given to the lust Congress at lh
close of its first session, I submitted the
liuggesltion to its consideration at tworon
secutive sessions. The recommendatioB,
however, met with no favor at its bands.
While I am freeio admirrthat the-neeess- j
tips of the limes have since become greatly
ameliorated, aod that there is good reason
to hone- that the. country ft nfety and rs
nidlv emerffing from Oiedifficuliies na
embafrassmeuuwbich everjf-who ur;
STOiindedlrin 1841, yet 1 cannpt oui
thot its restoration to a sound and heauny
condition would be greatly expedited , dj '
resort to the. expedient in a moain.
TheoperaUonsoftJieTrsu
oq, the act or 17ol, anq yj-;
1818. and those laws have been so admini-
.tered as to Droduce as great a quantum-
j .l- -..i.u,a their orovit""
. !....!
are
capable of yielding; :. If there bod bee.
any distinct expression of. opinion go ng w
show that public sentiment is averse i -plan
either as heretofore' recommended J
fcongress, or Jn a modified form, whde my
own opinion in regard to il would emj t
unchanged, I should be very farfrorn
presenting it to your consideration. .
Government has originated with thaS'atej
.nj'iU tuannla far their own
01
advanUge; and it wouioo "',; lictj
ih. fn.imJ.nini. nrinciDleS of the PO"
edifice which they have reared, , P";
i- a.,.i which in their ma r
judgmeuU, they had either repud ated
condemned.: -The wiU of our cooslituenUt
clearir expressed, should be 'e6
the light to guide our footsteps; the
difference between a monarchical or ar
cralical government and a republic
that in the first the will of, the few p"
over the will of ihe many, while w
the will of the Itoany ahould be alone co
suited. - ..
tu. -rr-t, SfltiretsrV of War
iring you "acquainted with.tha conoi
. 1 . 1 . . a nn r