Newspapers / The North Carolinian (Wilson, … / Feb. 15, 1840, edition 1 / Page 2
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m m -ft w 1 . ; v. - ' i. .1 ? ! 1 t 1 3 . 1 One volume from the King's Library, Bri tish Museum, London. Another fruit of Mr. Tefft's visit to Mil ledgeville, was the acquisition of 10 volumes of MSS; being the Notes, Letters, Journals and Accounts of Col. Benjamin Hawkin3, during his Agency among the Creeks; con taining a mass of information on the manners and customs of the Indians of Georgia, no where else to be found. They were present ed to this Society by Richard M. Orme, Esq. of Millcdgeville. The first Divint? Bell is stated in a note to Savage's edition ot vv uitnrops uoumuia, w k kn iwrrl in R.istou Harbor in 1642. Savage does not doubt that the theory was discovered before, but considers the first suc cessful application to have been made by Ld ward Beudall, a Bostouiaa of whose perfor mance the following record is made in Wia throp's Journals .V. Y Eie. Star 23d 5th month, 1612. "The ship Mary Rose, which had been blown off aiid sunk with all her ordnauce, ballast, much lead, and .jk. .mnrtj vv now weished and bronoht iii.v.. , to shore by the iudustry and diligence ot one p,iwnrfl ttoml ill. of Boston. The Court gave the owners above a year's time to recover her ... fl J I 1 mid free the harbour mucn aamameci uy and they having given her over, and ne'er attempting to weightier, Edward Bend al un dertook it upon these terms, viz: if he fived the h.irbor, he shouU have the whole, other wise should he have half he recovered, lie made two great tubs bigger than a butt, very tight, arid open at one cr,d, upon which were kQinroil so manv waUT'-.ts as would sink it to the ground, 600 wt. It was let down, the diver sitting ip it, a cord in his hand to give notice when they should draw him up, and another cord to show when they should re move it fro:n place to place, so he could con tinue in. his tub near half au hour, and fasten ropes to the ordnauce, and put the. lead, &c, into a net or tub. And when the tub wa drawn up, one knocked upon t!ie head of it, and thrust a long pole under water, which the Alwr laid hold of. and so was drawn up by it; fr ihiv mi.rht not draw the open end out of m v -j o , 1 the water for endangering him." cost of setting possession of our purchases i .i . i .1 ntter we naa maae mem, ana me ueiicieui j is many hundreds of millions. But I limit the argument to the sums paid out for pur chases and received back for sales. Thus the lands are proved to have answer ed no p rt of their destinationto have paid r . ... ... t no part ot the public debt not even to wave defrayed the expenses of their own acquisition and management and that they are at this time largely in debt to the customs. This is a charge upon them which they ought to pay; on.) it r-nMit itntps a ptroncF obiectiou to their u tju ---'----- y alienation from Federal, and application to h name of property, and vvuauu uuv a ' . 1 which we now possess, or may tooose io ac quire; all this may be thrown into the legisla tive crucible, transmuted from an unconstitu tional to a constitutional subject ot distribu- . 1 " .L ".I . . . J ...it n n r Vtk tion, ana ionnwun paruiioueu States. Bills to divide the proceeds of the sales of "other properly" may then become as familiar to cur legislation as bills to divide the proceeds of the public lands now are; and in stead of limiting our distributions to the States, what is to prevent us from extending the fa vr.r to corporate bodies; to individuals, and r. fhUrlrnu -f muri tor 1 OHS DareiUSt UlH'e States, was more important; and that, there- ennessce, fore, it would be better that the vote of rejec- Kentucky, tion should be rescinded; to effect which, Uhio, - some members should change their votes. Indiana, But it was observed that this pill would be l'''us . peculiarly bitter to the Southern States, and Missouri, that some concomittant measure should be Mississippi, i it a iiiiia to mem. iucib iiimucaa, nUUptcu hi onwitu i . had before been propositions iou. me i -i DkllnJJA;. rxr at TU ul le 11 at ion no in reuerai, aiiu appntauuu iu i m -.uc wiiiuich i mci uunw i local, purposes. It is a strong objection, brt rlesceuded from the safe and elevated mark of : r . - a I " , i ! . U limit w ro 1 Yl t POLITICAL. Extract Of a Speech of -Vr. h-ntor,, of Missouri in Senate, January o, iow (Coutiuued.) trrpat errors. Mr. President, prevail in relation to the public lauds; two of them errors of fact, one an error of constitutional law. - They are fundamental errors, and lead to all the erroneous movements which are now r.ior-a in fnnorrpsi and elsewhere, in tenting '"i1 u r!,,t'i,.ii to th disnoshiou of the public do main. These errors are, first, iu supposing thnt thn territorial cessions of the States were il to the Federal Government; ...AI in annnosin? that the cessions so ""'J J IT c? ... made have fulfilled their destination in paying off the pubtio dobt iUirdltj, ia supposing that Congress is tree lroin auy consuiuuouui ic ra;.t In ftlanosirior of these lands. 1 nese --a rortial and fundamental errors, leading to erroneous action in legislation; and they de-.r-o K lfar eyoosure which will utterly ex- ikom. So far as fulriilius their destina- In iUa nitfnriftiit of the public debt is con- cerned, that error is fully exploded. It nas already been shown by authentic tables that k r.idnnM nnid the nubile debt; that they I i . " I u both supported the Government, and paid the rii.t- tlMt thi hinds, in fact, have an- Ilttllvliai KA's'riy . awered no part of their destination, not even having paid the expenses of their own acqui .;Mr.ii9nrirl mana'zeineut. This makes that error clear, the other two shall be as fully clear ed up. These are great points in the case, and I im.n to make them clear both iu the fact and in th nr(imiint. It is a a error to say that these lands, any part of them, were douations to the Federal Government that they were trirt.4 from the States. This is what is com- . ... .. - ! . - I . not thf sirono-est. to this alienation. A fa stronger one is found in the fact that all 'Aie lands held by the United states nave oeen prchased; that they are PURCH. ASilS, and not tjrlb IS; and nave an Dee-.i acquired ny giving money for, them.. Now it is agreed that this money could not have been divided iimnnc hf. ftlales betOrp '. wna aivftll tor the land; and if so, is :.t possible that we can effect -u j: - r. :. . i . - c. 1 me oivisiuu ai'er u. nas oeen given wi wuu by the sKv.ole orocess of reconverting the land iutc moviey? If so, then have we found out i:most facile and flexible method of get liri.T rid nf Constitutional obstructions! 1 In round numbers the sum of one hundred I ni. rt rwolvA millions hnve been paid for the i - - - public lands, and the largest part of that sum ir tr.ro ihi b ar called donations. To Tiidinns there have been Daid seventy two millions of dollars, and this to extinguish their titles to the lands presented by the States to the t ederal trovenimem; ana mis mut:- pendent of the annuities yet to be paid, aud which represent a capital of several millions. These Indian purchases have cost far more than Louisiana and florida put togeiuer, They result from the cessions of the States cessious which have generally been treated as ... k -i V. donations ot the land, wncn tney were noui . . .... i . .i ing but atransier ot the rignt to purcnase mem from the Indians. 1 he Plates did noi u ;i the soil; the Indians were the acknowledged owners. All that the States claimed in the soil w.i th rioht of purchase from the Indi ans, aud that right they ceded to the United Stnrpss. Kom.fi States would not cede that ri.vht n MiiKs.ir-husetts and Connecticut: and these have held on to the soil, and have solJ, i or are selling it, tor their own advantage. Massachusetts and Maine now drive an an nual income from the sale of their lauds. Connecticut has received a large sum from Ws. It was Virginia and Georgia that made n..t;.mnl obiffts. ivhorp. is the limit, where the boundary which is to arrest the downward course of the application ot me iianoum umus. I fulmitlort ihnt I nnirrESS IS nets noiii mi constitutional control in disposing of the vn7rw" and "other nroverlii" ol tiie union and what is there to guard the application ot unbounded means, dire.cteu y uuuouuucu npr? Whnt is there to prevent largesses -.mi hono :irimn. 111 the snaue OI iiuuuai gru- tiindA nnd n:ii ion-.il munificence, to warriors, statesmen, poets, sculptors, musicians? hat r.iv.v.nt hrditnrv niovision ior ine binoun of families, in the shape of hereditary pensions t c..-occivo iTnpr.'iii(nis for ancestral ser- 7,148,163 66 7,360,000 00 6,101,000 00 11,890,000 CO ll,6O0,0CO 00 2,5C0,C0( 00 7,000,000 CO 3,OU0,0CO CO 5,340,100 00 pies differ on every possible ground, and I light and lint and shade, from General Har rison. I was present in the Senate of the United States when BIr. John Randolph am! Harrison bad that sparring anoui ineir pon tics in '99 and 18C0, and in which Harrison j admitted, (in March 1626,) that he approv ed old Jonn Adams s auminisirauon, wua I the exception of the sedition law, &.c. Mr. 1V"Z?. V, ih. P ;Jit debt, iu successive period of fie years aud peut.o,, of the 'Tree back.; .n 'he tieoretown, Oil tne jroiuium-j uuu . ueui, iu suitrasiit; pti iuua . . thouoht that by giving it to Philadelphia for three years, from 1820 to 1S38, is this J, . d ....... rrmanpnllv V lCOni,. liOS fftl 2.790 ten years, and to Georgetown permanently niir...nrl. iWia nooht. as an anodyne, calm ..v.. -."-' ,- , - .- in some degree the terment wnicn migm ,r.;tr.l w ihpoibpr measure alone. So two of the Potomac members (White and Lee, . . i 1 1 . but hite with a revulsion ot stomacn aimosi conclusive) agreed to change their votes, and Hamilton unoenooK 10 can t.., o.d ko h nssiimntion was passed, and twen- ' ' i ' niiona of sior-lc divided among the favor- .wi t;i-.t..a and thrown in as a Dabulum to the ctorkiobbiticr head. Still the machine tint rrimr.lf tpi the effect of the fundin BVtrm nnrl of thft nsiuimlion would be tem- Ojvvm I . . hfi lost with the loss of the in- dividual members whom it had enriched; and anmn !l'.linfi of in fluence more permanent must be "contrived while these myrmidons From 1820 to 1825, $12,790,723 " lS25tolS30, 13,679,689 isaninisas. 40,002,769 1835 to 1S33, (3 j yrs) lC8,223,8i,S n-h, dot,. ;i rho rloht. with the amount in- curred by each State, for each object is mis- g-fs-sss-ghaf ."5.C3 5' S 3 2 a . ? e S 5- - p. g". s 1' b 2. Or? E- o - - -o J o So- B a. - o - ! I ! I Ti I I O ssive generuuons ior uutcoum - . , rx.u- h .. f . t 1: I in r1nr0 to rarrv it thrOUSU. 1 niS vioesf VV e toucn tne connne, i - "r " " of me xj. Stas tary pension i.st at mis moment - XyZ here presented! Debts rpsidv an ancestral ist wnicn i,uuw uamra '""""f . . - .,, u"7e ,"r,ber; aad lei it bo granted to Co- nsumed in the mass, bot know.ug ; .tal Srcs,, to do ha, it plea.es, uucoutroUed by they.-ere . the gross, r. the Constitution, wiui me terruo.uo r - j,v,,p . ... ... - it: .nj 1 nil K.wmose snssnpnded tor many days se and all tne oilier properiy ot iuu l umm, oUU .... . . tuu en mo i j, j r. ;, n,,,! ,iun, nn nnen v menaced, com- from that mst-iut a pension list 01 wii-ium s . - . 1 1 . 1 i i.ii-.;m:, nmmUo of ntpmsts intrigue buying and thousand names, anu mree aim u nun ...1.... r . to of dollars, will quickly be extended and in- selling ot M-WnlUh . . .. ' ...t? , ,i : tu r,l or oos- mss two measures together, neither ot wbitn aeaSea,anuMc,u.,u u T , cc.rfltlvsoeculators in- teritv. .vo. si), no. i.itre u non i " 1 . . . j i.. I .'..A. Sinfe tl,hs. or to testing the halls of legislation, and openly LlllUUl ICU d IV UuUUr""- y . w ... . .1 r i : na them: or to endorse them, or to smule struggling ior -their spo.ls-tne iu'"S J b9 o O VsVccVo o cc - o o o 05 C3 tw caj- wjj. -11 I O o o o oclo - oenwo. o o o J "o"o"b c O w o o o o o O W w b "o "p "o 00600 J " l-Z Or CJr "o to"o c; m c OJ CO c jt C CD O a p a. the mo neij to the Stales Jor that purpose, un der the pretext of dividing; land revenue, or snri'lita redenue. anions? them. I here ts no ,! fr ,7n -.t. The tehoTe thins? is conslitu- imnnssible. It ivas never thought of by the f timers if our Constitution. They trentnvil nt Sllrl ft tllWT. J. II ere IS never r.ot a word in their woi I; to icarrant it, and tern a second time sanctioned and fastened upon the country jobbers and gamblers in stocks enriched twenty millions ot auummi i ..-.ilnnol At f-rntpd and the establish- (" n IVntional Bank insured! oucn were .1 . n. t.,.,i;nrr n smnll assumntion ot lllO CI 113 OUV11U...J. . twpnlv millions of dollars, and that in a case where there was no constitutional impeaimeui to hp. evaded or surmounted. hat, men, "1 "o CI o o o c o c the largest and most effective cessious, which ceded the right of purchases to the most ex tensive territories, and dearly enough has the United States paid for the privilege of buying the Indian titles to what they ceded. Almost Trio whole of the seventv-two millions paid to Tndians has "one for the extinction ot then i lohfMTin with hundreds of millions is to reach a billion is to cover, in the end, all soits of State debts, aud is to be attended with flagrant breaches, or derisory - evasions, ol the Constitution: W ith this retrospective view of the mis- 111 a case so . - - . 1 1 . ni l much more mitigated, 1 prncceu iuhicoio 1 IT T .1 J a--.- il ti m n ,( til me new one, uisguistfu a uisiujiihuu " mi i2-iirl hilt It IS a rr.r of Cr t: nnd tcioii this error the whole ar eumeutof the distributionists, and their off- Knrinw. the assnmptionists, has been built up. Til. ITnitRil States have purchased all th landj-thev hold. They have paid the mouey, ,i rrro-.i nrico in mnQev for theui. ' No i Li 11 i o r J . . "no donations, no gratuitous cessions ot 1-indihiva been lmJe to this Government; hut with money from her Treasury, has sh3 Kr.Tht and n-iid for the whole: and paid out for them more than they have yet paid back. 11 " .1 This is my assertion, and nere is me prooi. Purchase of Louisiana $15,O0O,CO0 Interest paid thereou Purchase of Florida Iutcrest thereon. Paid to Georgia titles to the Virginia and Georgia cessions: a mr.rtt fragment of it has gone to the Indians i 171 ,1 T TT.i r-.r TVir Ti.diini or OI I: ioi iuti iiuu 1 1 1 i.-uiut.. ..w ih Soiithfrii States, and of the .Northern West, have received almost the whole; ana besides this, Georgia received in money aud Mississippi land scrip $3,CS2,0L0 for her ces sion, besides the obligation to extinguish the Indian title to their lands within her limits for her own benefit. Thus it is clear that the cessions trom the Estates were not tioiinirou of laud, but cessions of jurisdiction; with the tiausfer of the right to acquire from the Indi- mi lhp sr.i within tnoir ancient coiom.11 boundaries, and which, in regard to the limits of the State, were generally ex-territorial. The sum paid to the ludians, and that paid to Georsria. make about seventy-five millions ot dollars which the purchases of the Indian ti- '..-..I I c ties have cost us;' wliile tne purcnases noui France and Spain, the interest included, bare- ' .... i i ly amount to thirty millions. 1 he expense ci the who e has amounted to aooui pioht millions: making a total for the cost and management of the land of about one hundred and twelve million of dollars. T hnvp trout; over those details to establish a fact, and which fact is vital lothe argument, that the whole of the lands owned by the Uni ted Slates are purchases, not donai ions; mat they represent money drawn from the 1 rea sury and invested in land, aud now wearing the shape of acres in the w oods instead ot dol lars in the Treasury. I his is a fact now es tablished. Here, th:m, arc one hundred and twelve minions of dollars laid out for land, aud now represented by land. Here are one hundred and twelve millions of dollars con verted into laud; and this brings us to the wreat constitutional error on this point. le- fore it was so converted, every one admits that it could uot have been divided among ihf Staff". Everv one admits that. ISow, the question is, can we divide the land? or, Tie Vederal Union ivas framed. Sir. I reoeat it: The' Federal Constilution grew out of the want of money for the uses of the Federal Government. It grew out of that want, and nothinir else: aud it contains no j CT" , 1' ...... P.,lnf iMi n tho srhltirt r nr "TUUl HWt:i 111 ItllUiyil l Ul'' .v.iv-iiv I the application of mouey, except for the uses chiefs of a former assumption, nnd mil noses of the -r federal Uovernnicni r 1 ;ifdf. Ilavin.cr established the constitutional ob jection to assumption, naked or disguised, and shown that there was 110 difference be tween diverting land revenneto State purposes, . . . 0 . 1 I V.I . I. I and havinsr esneciahy exploded me imee vui gar errors, that the lands were donations irotii thr. Si-.ios. ihnt ihev have fnlliiled their desti nation in paying the public debt, and that the power of Congress is absolute and arbitrary over them: havinsr done this, I proceed to the , j-, . . secondary class of objections; namely, the ol" tVir m.-:inre. T hpse evils are ill ., t , - .r .-I :...u.,.i.. ., to he evaded or surmounted. nat, men, -o v 5 m - xoy-ssis.;). Hie WHO e Mien I'l ii is unci n; 1 run; i.ti... -- - - . looc ---i",Jr;tS"",r, ofjensive to the objects and urposesfor ivhich must be expected when the assuming process o f . -o - --Sf f . . r -J rl .t Irt .orr.K tvtth hlllldrpd.4 of mllllOllS 15 tO I o OC3 C?3 2 2 s -jcooo-ao o m CO - iS. "3 03 - o o -a 1 to 10 V J l-O C A- c-i "V 1 jZ QC t O ZD Ci .4 cr. c-i a. w -4 'i. Ci CSJ- ji. CO 1-1. 1 rvrniii nmotirr the States, and a provi imiiu ti. vi' j a sion for the payment of their internal improve ment debts. Iu taking up this class of ob jections, it is proper to show, in the first place, the nature and amount ot the State oeDts ior which the Federal aid or guarantee is claim ed the purposes for which they were created . . 1 1 1 their present value at home ano auroau and the proportions in which they are distri buted among the several States. And here I avail myself of the valuable aud authentic iu- li.rriinl'.riii r.illnrlptl hv an pminent citizen of evus 01 l.ie measuiu. 1 ntsc 0 -- ...- -v - themselves so great, so hostile to the general New York, the Comptroller of the State, Mr. . .1 1 .. ...:.u .1.. i: 1,1 ih Vpi'. Fjio-.t. A lute. Coiiifiiroller. it became his gooci, aim o oijj 1111 ireftiut-miu i- n.- 1 - ".j,- 1 -- , if iVioip u-n nn f.mistltu- i d'.iiv. under the creneral baiiking law ot the : 1 : u tu ntwisnvr ! V:iti isuft rirrulatinc? bank notes to bank- llUlltll ill II " U 111 Ji-in 111 v v. I - 5 8,329,353 reconvert it into money, and divide the del- o. oil. cn i.irsf t;an we cneat tne vnustiiuiiuu uv un 1,480,( 00 transmutation? Can we cheat ourselves, and 1,250,00;J the country, by such specimens of legislative t. 1. :.. 1V:. frtlr 1 sa- (!(;n tdfhvinv mid nolitieal iuTfflinil? If so, we Etjuguishing Indian titles 72,00 J,C00 have discovered a very facile way of helping Oj.iJ'JjLUU ourselves to an mat tue xiuuauiy iiami..o. Wa nnv'huirin with the one hundred and 1,250,000 1 twelve milifons at once, and then proceed, a.ai'Hl.nnn convertm? and reconverting, buying land and j sellinor laud, we have bouoht and divided that . 0 j , , - cot s.vx Killion of 5irM-f5. estimated at ti billion and a Dlliu,i)!"' I . .. , -f ;, nuarter of dollars, which figured so largely in Tu: t . U n.ir.1iao mAno'j nnifl; ana Iw " I 1 ... -ii i .1 A 1119 13 Ult3 UU1UUM-?W ....... . r , . . ...I" K truov of oiihlic lands Salaried and expenditures in the General Land OiTico Land offices aud officers nil that I nronose to count iu this argument; for it is sufficient for the argument, though not all that belongs to the argument. The value of other lands giveu in exchange, and the cost of getting possession, both belong to the argument, and far exceed in amount the totality of the purchase money paid. Thus Florida cost in money, $6,4S0,0G0; but to u: miwt h mlded Texas nroDer. and the iui ..-- . i country between the Red river and Arkansas which was given iu exchange, and the cost of getting po3session of Florida, which alrea dy three times exceeds the price of the coun try, and the possession not yet obtained. So of other purchases upon a smaller scale. The whole amount of money received from i. . i .ri.nria I have shown hereto- fore, is but one hundred and four millions of . .u. ia a flear deficiency of -hrht millioua of dollars under the head of MTinS tor inemsetveii. .uu i c ' fTsu n.niinnadistrihnted amonz the States, ad the deficiency is thirty-six millions. 'And ' "if - this we should still add, as we fairly la Vio. olii of the lands given in ex : Hf " ill, . uw . . , , -hTr. to Spain and the Indians, and the the debates oa thr; laud bills when they were first introduced, and when the natioual do maii wzi3 presented as a bait to natioual cu oiditv. . j J ... . Th, ivonld won: to be enough; a billion and a quarter would seen; to be enough; but ; 5c nr.lir tho hem" . i utT of what may be done i . j ...... ...u - r-5 under this new process of converting u"d re ....... 2 llion converting the federal revenues, ana iucu rl 1 villi II fT ihpm. Tt is the hecrinnin? only Oi UBVBU&U- o o uK-jf mav h donfi in this new school of al- i VTtauhsaau,r ! chymy, with our Constitution in its crucible. The transmutation may be made to reach, all ... , i .i other property owned, or to be owneo, uy me United States; for the same clause which gives Congress authority to dispose of the territory; also gives it authority to dispose of all other property, belonging to the United States. Here then is a new and boundless field for obtaining money for, distribution. Forts, arsenals, armories, magazines, arms, and munitions of war; fleets ships, docks, navy yards and naval stores; barracks and hospitals, public edifices of all kinds, including the Cap itol in which we sit; light-houses; bank-stock; canal stock; road stbek, every thing, iu fact, way of assumption, or provision for State Cents, should be utterly rejected lor its baletul con sequences alone. And here it U proper to pause, to reflect, to look back u',o".i the page of our own history, nnd to consult the expe rience of our own ance-'lors in relation to paying State debts, before we tu.-h into the same business. AVc have had one assump tion in our country, and that in a case which was small in amount, and free from the itn L'cdiroeiit cf a constitutional objeetion; but which was attended by Mieh evils as should deter posterity fro"i imitating the example. It was in the first year of the Federal Gov ernment; and although the assumed debts wr-i-p. onlv twenty millions, and were alleged to have been contracted for general purposes, yet the assumption was attended by circum stances ot intrigue and corruption, wnieu ieu to the most violent dissension in Congress, uspeuded the business of the two House drove some of the States to the verge ot se cession, aud menaced the Union with instant dissolution. Mr. Jefferson, who was a Wit ness of the scene, and who was overpowered by General Hamilton, and by the actual dan gers ot th3 country, into its temporary sup port, thus describes it; "Ihis game was over, (funding the sol diers' certificates,) and another was on the carpet at the moment ot my arrival; ano to this I was most iirnorantlv and innocently made to hold the candle. This fiscal manccu- vre is well known by the name of the assump tion. Independently of the debts of Con gress, the States had, during the war, con tracted senarate and hpavv debts. cCC. w 'h 46 nrtiio mnnoi. nrVl cthlr tVlCf'lt Or toolishly spent, was pretended to nave been spent for general purposes, and ought there- tore to be paid trom the srenerat purse, mil it was obieeted. thnf tmbodv knew what these debts were, what their amount, or what their proofs. Tso matter, wo will srucss them to 7 O be twenty millions. But of these twenty mil lions, we do not know how much should be reimbursed to one State or how much to ano ther. No matter; we will guess. And so another scramble was set on foot among the several States, and some got much, some lit tie. somo nolhino. This , 1). measure produced lhr most hitter and anprv contests ever known in Congress, before or ei2.ee the union ot the States. The jrcnt and trvim? nueslion. howev j f , or. ivri-a lot in tho TTnnA of Renrespntatives Sn Viirh wpfp! thf frnd excited bv this sub ject, that on its rejection, business was sus- 1. r . 1! 1 r npiirif n. i nirru mot nnd noiourno iiom day to day without doing any thing, the par ties being too much out of temper to do busi- nosa Inomlhcr 'I lin ITiictorn mpmhera narti- "-"" - o " r - r-iiliirlv. who. with Kmith from South Carolina. were the principal gamblers iu these scenes, thrfltfrifd n Rpfpainn nnd dissolution. ... 'gut it wag finally agreed that whatever importance had been attached to the rejection of this proposition, the preservation of the Union, and - of concord among' the Whole or part for improvement of r.ver naviga tion. Such are the amounts aud the distribution amonff States and objects, and the progres- sivp inrrpasp. f these State debts. Having seen these particulars having viewed the debt in its gross and in its detail the next thing I propose to examine is to see what the States received in return for such enormous liabilities: what it is that represents these debts now at home; a id what the debts them selves are worth in the stock market of fo reign countries. And here I can say in grief, and with so: row, that almost the whole amount of what the States received was British dry goods mere British dry goods not even groceries. I say it wilh grief, and with sor rmv h:it nlmost tho whole amount of what the sixteen States received for tht3ir sterling bonds, bearing a steiling interest which will not be less than ten per cent, to the people who pay it, was British dry goods, which have been sold for paper money to construct roads and canals, aud to build up paper system banks. This is what we have got fur 170,' 00,C;OU of sterling debt. The process was about this: The bonds were sold for bank credits ia Europe or the Atlantic cities: bills of exchange were drawn upon these cred its iu favor of merchants who took up the a- meiint in drv sroods: the bibs ol exchange r- , - j were paid for by the merchants in paper mo- ney; and this paper money, atter some ume, returned to the banks from which it came. in companies ou rec eiv ing from them pledg es of State stocks. The proper execution ot this duty required him to become acquainted with these stocks; and tor tnis purpose ne ap plied to the fiscal authorities of each State, and received the answers which he atterwarus embodied into the document which now constitutes the magazine of information from which we all obtain our .knowledge on mis subject. His report showed the astounding sum of one hundred and seventy mill iocs ol t lW whole ooeration 'was a circle of, debt contracted or authorized by eighteen ot - . eud;n the States, (in reality by sixteen, as two of ?n own extinction, and never emerging them owe but a trifle;) and that without count- .. cirde but am, to ing the twenty-eight millions received on . ff ; f . The deposits from ihe Federal Government, lh.s ' voru out: the paper money has re- was above a year ago; and, taking into tne - . .. :. eame. ,he calculation what may have been incurred ioo s D' and nolhi remain3 of the . . w... u iiri Jh lV.i-1.1.1 iloht nl hvr rolllion- I r -1.., ....ii ... . ... trallsact,ons hut the 170.000,000 ot debt, it aud some others species ot dett, the wnoie , interest, ai!U the banks, canals and may now be estimated at more man tvyo nun- - represent it. The whole of these dred millions of dollars. l,ut connmng my have la;led oncc, and most of them remarks to the amount which appears, u the . lhe er of ,he tables ot Mr. tagg, and it is seen that this unfinished, and of those lame amount ot one hundred and seventy ..... . i. .,:.. ,i iv.; .y.. , ,, i i . j : .u, ttuisiieu seveiai uiu uu jiuuih.iic. -i.u millioiis of dollars of debt was found in the , . , h bm then States of Maine, Massachusetts, JNew lork, - . - . j nronosed to cast UPOu the Pennsylvania, Maryland, Virginia, oouln ,,,Pt, , tlrmant Rm Carolina, Alabama, Louisiana, Te, nessee, not wen the Kentucky, Ohio Indiana, Illinois, 'sr'; dlrect debt of the State, but a security debt in Mississ.ppi, Arkansas, and Michigan. Light fnr rnmnnnifiS. ornoratious. and iu- ofthe States of the Union, namely, INew 'C...,I T 1 "ir- . i, I . I 1.,J OlVIUUaiS to WllOIll me oimo ICU.i, mm I'.mncliirr. V ortnnlll. It hOOO IslallO. l.OTl-1 .. . ... ii :t ' ' . . necticut, New Jersey, Delaware, North Caro- una, and lieorgia, enjoy tne proud ano envia ble distinction of not finding their names on tho ii.dAlitod list. Maine and Missouri are only nominally on the unhappy list; the for- mer having created but halt a million ot deDt, and the latter having sent out her bonds too late to be sold, and a good portion of them remaining yet in the power of the State to nw thf Statft honds. have been lent to enable 7 . them to build banks, and make improvements, or engage in some speculative undertaking, for whifh thev had no means of their own. A part of the State debt is in this form; and that nart becomes doubly obiectionable to me from its intrinsic unworthiness, and inherent viti- ousness. I have yet to discover, iu the Con ctitutiona of snehofthft States as I have ex a power o( the State to . . . . , ..rhri recall and cancel. Sixteen may be taken l"c P.p-, "J " IL L ,u n..m..or ,if ,h0 inhior! the Legislature undertakes to lend the credit and 170 millions the amount which they owe! of the that V'llLV comom but of these sixteen, only thirteen are invol- of t!f . Pf.P e' 'TS 23' ... ... Iioiisl and individuals, for their private ad ved in me spec.es ot cieot now proposea to u - and make the community stand provided for, namely, the internal improve- f f Bucce88 Df their undertakings. meni aeot. , .1..01..... t Ar.it We now take up the tables of Mr. Flagg. 1 mlP. T?'1" T' V. "Vi The objects to which these 170 millions wner,e ine aum! u" " uuul V' "tt" red "ility 1 have assumed, 1 leave ine u"j are applicable, and the amount for each ob. utterly deny it in the Congress of the U nited the calm and reflecting cons.derat.on of s 1 uiaica. 1 1 .ff7iiaiiirf ject, a.e uCe. ------ . ... nf thc SW For Banking, - - $52,640,000 Prom the Richmond Enauirer. " UM,'.'T"t J -II i respoDSl- vr r1...!., orn Esi . tion assignea me, assumcu c. - . , tor Canals, - - 60,201,5ol correspondence.. k:,:.: j u,;r. n,r shrunk fio For Rail-Roads, - 42.S71.C84 The writer of the letters, (addressed to a uimw-u, . For Turnpikes & M' Adam roads, 6,618,95a gentleman in this city,) from which the fol- the performance ot any amy, 1 u thi& For miscellaneous objects, 8,474,684 fowing passages are extracted, was but a self imperatively called upon .W n nU . .1! . 1 . t . . I r 1 tt 1 1 117 U. I I. I f-rIf III1U1I II illlUU iu vu counted his (Harrison's) conversations with Mr. Nicholas of Virginia, and Virginia poli-. tics, and her negroes, which Mr. Harrison' said was true that he was "joking!" I change no politics, but I will not vote for Harrison nor for 1 yler. 11 1 ie,i interest m this contest, I could give you ammunition enough, and I would not supply blank cart ridges either. I have entertained such ab-i horrence of the men in power, that I did not supposdit would be possible lor me to regret their substitution by the devil, with bis horns .upon him, and all his imps in the bargain But I should regard the election of General Harrison as that heaviest of all calamities that can now befall the country. I may take up my pen to show and prove it, if I had any mean3 of communicating fully and fairly my ihougMs to the public." FrovA the Pennsylvanian. " Governor' Message. To the Senate and House of Representative of ihe Commoniceattn, oj rennsyivamai nontlompn. Rv the provisions of the act Z approved on the 23d ultimo, entitled "an act to authorise a loan," the Governor is author i 1 I sed to negotiate a permanent loan ior $870,( 00. IIe is also authorised to negotiate a temporary loan for the same sum iu anti cipation of the said permanent loan. As $600,100 of the sum authorized to be borrowed, is required to supply a deficit iuthe internal improvement fund, for the payment of interest this day due, 1 directed the Secretary of the commonwealth immediately upon the approval of the said act, (011 the 23d ultimo) I ' r . ... 1 .1 -1 j.iu: ,1 .1.,. to write to the banKs ot x-uiiaueipuia, mm .ut Han isburg Bank, inquiring of each of them whether they would agree to make a perma no.it nr ip moorarv loan to the Common wealth of six hundred thousand dollars, or any part thereof, upon the terms specified in the said act, the same to be placed to her credit iu the Bank of Pennsylvania on this day. Answers have been received from all the banks. The Bank of Pennsylvania propo ses to lend on temporary loan $1CO,010. Some of the others offer to take proportional parts on certain contingencies, and several others appear to manifest a ueire to muci emergencies, but have not the ability. Co pies of the correspondence ou the subject are herewith transmitted. ' It will be perceived that not having the means so to do, the interest this day due the Commonwealth to her creditors is unpaid, a circumstance which the Executive, anxious as he has been for maintaining unsullied the credit of the Commonwealth, has been un able to avert. 1 cannot too often or too iin r.rivplv nr udou the I legislature thc paramount duty of maintaining at all hazards the public faith and credit. nust urging upon them the adoption of such wise and ' A li judicious enactments as may prevent ie in currence of an eveut inevitable fiom the re vulsions grow ing out of the unnatural and exhausted "system of credit with which our business community has been iufiated, I beg leave to recommend as the best alternative which can present itself, the passage forthwith of a joint resolution authorising the issuing of State stock for the iuterest falling due thi day, to be delivered to the holders of the stork for the amount due them respectively, as aa earnest of our determination to make provi sion as soon as the necessary Legislation can be had, to meet the exigency aud redeem the credit ot the Commonweann. I trust I may be excused 111 this communi cation, for saving to the Representatives 01 the people iu the Legislatute, that whilst they owe a duty to the wants and wtsues 01 immediate constituents, mere is a paiau..---duty to the commonwealth at large, to rnaiu tain its credit, to meet its engagements, and to prevent its character for good faith, from be- in- sullied" rso man were ne alone as an individual, would go further to fix au early day for the resumption ot specie r . .t r l ! f htf payments by the liaulis man 1 womu, .. -j so'doing the desirable results would be pro duced. But, placed as I am. as the Jxecu .. . 1 r- i.u rt i.reidf over five ot me lyommouncauu, iu her interests, I feel bound to say, regardless of any denunciation, wtiicft may u J . r tni forth from any quarter, that i neiiee J . 1 c- U nontPfl 10 vigorous a system 01 measuies uc a-?"- , coerce the payment of the liabilities of tne banks, immediately, the credit of the btaw must ano win De sertousiy ouu -affected. Let an assurance be given to tne .... . . f j wiintu public that at a certain and nxea uxy, a reasonable time, such resumptions will tae place, and that it will then be permanent. C ! . ... .1. ll.r..A to Let them understand that tne inuuigo..--their debtors by the Banks, is reudered abso lutely necessary by the existing pressure an the cumbrous public debt with which the Staw is loaded, and no one can aouot, um a spirit of patriotic liberality, they will wave the immediate exercise 01 a positive the more certain and ultimate accomp-" nwnt of what we all so much desire. rc. to the message communicated to you at t 0 . fnf fill commencement ot the present session i . 1 -.f iKa resDOllS1' vrews luuetdii, auu, awaic jl -- , bility I have assumed, I leave the subject are: Maine, M assachusetts, New York, Pennsylvania, Maryland, Virginia, South Carolina, Alabama, Louisiana, - lew weeKs since an anient viay v nig. xue 1 - , ' . .. nods"" reader will nerceive what a decided tone he dence and belief, that the patnotwn,f $554,976 00 takes towards General Harrison. He com- sense ot our common c"l"u;"; endeavo US out 111 oui uuiii ui.v. - . 1 jlDr nnnut.1.' 200.0CO 00 plains that he has no press to publish his dis 18,262,406 84 quisition3. We tell him at once that this 1 paper is open to him, and we expect much from his experienced mind and able pen. Extract. "I was always opposed to Harrison. JUy vote in the doubtlul ticket in 1836- was expressly endorsed to be for "Judge White, and no other." My princi- to extricate the State from the 27,306,790 00 11,492,9S0 73 6,662,089 00 5,753,270 12 10,800,000 00 23,735,000 00 incountered. lliu'- 1.: .nJ imKarrnsmentS CUIUBS ouu r . DUD February 1st, 1840. Economy is Wealth.
The North Carolinian (Wilson, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Feb. 15, 1840, edition 1
2
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