i
i
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't
... .. j
t . .....
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t -
-
. A.
4
V.-
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i
i
fur liiat, by adding tu the prica of every othetur.l
tide euterin? inf i thn supoliet of the army a Mm
u(TiJinHiHiwj-4 t?th fines of 118, there waa
till a ditrnreiipo in the.e.t pcrmanof $163; 95,
This great reduction was etf-ct. I without stinting
the terries or duni-iis'iing tho sjnplins, eithar fn
quantity or quality. The w6n, tin Hie'contraryi
increased in brtu, espncialfy the latter. 1 It was
effected through an efficient organizi'ion of the
stalf, nil tha c operation of the a hie oilier
placed at lha baaJ of each of in divisions. The
ciuae of tha great expanse of ihs former period,
waa to be found to b. principally , in the neglect of
puuiic property, hiii inn application oi ll io uwt
not warranted by law.- There is lean scopi, doubt,
lew, for information in the armf now. 1 cannot
dwbt, however, but th.it the universal extravagance
which pervaded the country for lOiny years,
and which increase I so greatly the expenses both
'of Government and individual, hi left much r join
for roform in this, as well at other branched of the
service. ' f- - .
In addition In the army, (hire are many other
find heavy branches of expenditure embraced under
tin military head fortifications, ordnance, Indium,
making this supposition, I wisli it to' be iindnrsMi J,
I do not admit that. lha expenditures of the Govern,
meat ouht to keep pace with our rapidly increasing
population. There are many branches of the pi,b-
lie service which .ought not to be, ami have not,
in fact, been much increased with the increase of
population, and are now, in point of expansion, very
nearly what they were in IH23. Othera are more
enlarged, but it ia believed that there are but few
whose growth have ben greater, or as greit an that
of our population. It wonld4 in truth, not be diffi
cult to .ahow that an increase f revenue and
expenditures, and consequently of patronage and
influence, equal to our rapidly growing population,
roust almost necessanly'end in making the Govern-
merit despotic. It ia known that it takes a much
leas military force in proportion to subject a large
country with a numerous population, than a small
one with an inconsiderable one ; and in like man
ner, and for similar reasons, it takes .much less
patro-iaoajand influence in proportion, to control
lha ((turner than tha latter. 8rt true ia i, that I
regard it at an axiom, that the purity and duration
of our free and popular institutions looking to the
vast extent of country and its great and growing
1 1
and pension--the expsndituroa of which, taken ?in population' depend on restricting its revenues and
the aggregite, greatly exceed the army ; the ex
Mnse of alt'of which, for the reason to which, 1
have alluded, may, doubtless, be much reduced
p.i turning to' the navy, I have not been able to
lo'jtam information which would enable me to make
a similar comparison between the two periods, in
reference to that important arm ; but 1 hope, when
the information is received which has been sailed
for by the Senator from Maine, (Mr. Williams)
ample ddla will be obtained to enable me to do so
on some future occasion. In place of it, I propose
to give a comparative statement of the expense of
the British navy and ours fur the year 1940. The
information in reference to the former it taken
from a work entitled the Penny Cvclopedite, under
ibe head of " Navy."
The aggregate expense of the British navy in
the year 1440 amounted to t4,980,353.poundt tier
ling, deducting the expense of traimimrt for troops
and convicts, which doe not properly belong to the
expenditures, and thereby its patronage and influ
ence, to the small st amount consistent with the
proper discharge of the few great duties for which
it was instituted. To a departure from it may be
attributed, in a great measure, the existing dis.
orders. With these remarks, I shall now proceed
to give tne result of lha proposed calculation.
The actual expenditures of 192.1, all included,
except payments on account of the public debt,
amounted to $9,827,832. That sum multiplied by
75 per cent the estimated ratio of increase of pop
ulntion from '23 to'40,givea 917,193,631 ; which,
en the assumption that the expenditures should not
increase more rapidly than the population, ought
to be the extreme limits ot the expenditures of this
year. But the estimates for the year, deducting
payment on account of the debt, are, af ha ben"
stated 82-1,996 258, being an excess of 88,408 57
beyond what the expenditures ought to be on the
liberal scale assumed. The increase, instead of
navy. That sum. at 84 0tMho pouud sterling, j being at the rale of the population, is equal to
it equal to 823 905,69 HO. The navy wscom fls,-- h compared with the etpend.tnrea of
posed of 32eae1s of war of all descriptions, lea v. 1823, and 3J nearly, compared with the raiio-of
ing out 30 steam csst-U in the packet service, and
23 sloops fitted for f reiy pickets. Of the 392,
98 were line of battle ship, of which 19 were build
ing; 118 frigte, of which 11 were building 68
sloops, of which 13 were building ; 41 steam vet
sols, of which 10 wrs building ; and Oft gun hrig,
schooners, and cutters, of which 12 were buildiu.
The efloctive force of the year thai which wa
ii actual service, consinted of 3 4f0 ofTi.ers, 3P998
petty officers, -2, 81G seani, and 9 000 m armors,
making an aggregate of 29,211
vessels in actual service were 175, of' which 24
were line o'f battle shis, 31 frigates, 30 tteam ves-
the increase of population. Had the ratio of in-
crease not exceeded thai of the population, the
whole exoenditure of the year, including the sum
of 87.000 000 for- the dbt, would have been but
824.198.681, instead of 831 997,258.
But as great a this reduction is, it by no meant -represents
the saving that would be made on the
idiita.jissu,,neiL Thsexpenee-vf-lleeiinjr the-
rr venue, (of which a statemant has already been
made, as it relates to the customs ) as well as sev-
I'he numherofieni' ,ner 'm leas important, are not included in
tne exnenaitures, a no miwi oe auuen, io gm ine
true amount that would be saved The addition,
at the lowest calculation, would he a nyllion of dot-
uU bh4 A K .sh li.a MR.uuinsa m rA MtltfAVJ flf(t
i j .l. o' . ... j o i I Iim, which. nH M to he Q 408 577. whiM mke
rs
packet servicer at na average expenditure of 573
far each individual! including officers, petty oflicers,
seamen, and marines. "
Our navy it composed, at prcseut, according in
the report of the Secretary accomnanymg the Pre.
iJent's nfasage, of 67 vesseU of which 11 are
line of battle ahips 17 frigates. 18 sloops of war,
2 brigs, 4 schooners, 4 .steamers, 3 store ships, 3
receiving velvets, and 5 small schooner. . T,,e e
tiinate tor the
that there will be in aorvioj during the yea
the sum of 89 498 577, and would reduce what
i ojght. to be the expenditures of the year, on the
ground assumed, lo 816,198,681. The reduction it
great, but I feel confident, not greater than what,
with a judicious and efficient system of administra
tion might be effected, and that not only without
imMiring, but actually increasing the efficiency of
the Governmen. To make so great a reduction,
would take much time and labor; bol if ihove who
have the power, and stand pledged, would begin
year are maoeoa me aisump-.w.i, , . . mlh h doo
will be in aorviM during the year, 2 . . . Mm.' illt if ,k, kill
ah.pi of the line, 1 rax-. 0 fnga'es, 20 sloops. 11 1 w)w pMndtho(-ja become a law, I would despair
l.rigs and sell o mers, 3 la nors, J store np, auu fir (( I w h tho m-rn-mt a de-
8 small vessels; making in the aggregate, 53 ves J ll)emit Bnd fil(H, determination lo keep up the
s;ls. The esttmitea for the year for the n,vV and , M0WMli, n..ardeSt Wa mi SHU.
rwertiweiwitlistleatea '-s-3te-- "
HJ,co.w..U.ailyxU.ht tkarrf-irfthe ei.iirel -whow how greatly" ptiUw ei;"
expen iilures o tlie Rrilish navy for UiX I am .,.,... hfive increnwd illM.e I s23. Df(K
asrareihatth-reisprohalily a. puch larger exjien-. . reintfk, .h ,
year 1823, at I
remark, ia part .
not the materials to ascertain the d-H-trenc. or , ... , ,. PJu.Uijuuk.mmm-.4km.
r-S2?I!!! Hvsm, ender the- vanouf headar
asrare itiat tvre .s prntMbiy a .pucn larger exn-. f() mike ntyfnfl re,nark, 0l xh
!-!!UA'lJ!roK tbe. early stages of juy. re
recTive.1!.rce-tTSnTl!rMtty th per
in the end, if continued, prove ruinoual Already
is our credit greatly impaired. It is impossible to
borrow at home in the ' present state A things,-at
the usual rate'oriutewst.' -The six per cent, stock
authorized at the lals .aeasion, is. now several per
cent, below pnr i.andJf we. would borrow in tbe
home market, it would entangerine aoiveni oanss.
It is admitted that a loan of two millions in Boston
has caused the present intm pressure there in the
money market. Nor can the foreign market be
relied on, till our finances re put in a better con-
litinn. Who, in their present condition, would
think of jeopardizing our credit by appearing in
the Eurojiean market with United States stock T
It is certain,' that liu neocialion could be eft 'Ctcrt
there but at usurious interest, and on a c'oiwidf ra
bto extension of tbe lime for redemption the ten
dency of which would be Is depress the State stocks,
and lay the foundation of a permanent (aided debt.
There remain another objection, which should not
be overlooked t the loan would be returned in mer
chandise, with the usual injurious and embarrass-
mg effect of stimulating the consumption ofllio
country, for (lie lime, beyond What its exports
would permanently austain. -
Nor is the prospect much better for the addi.
tional issue of Treasury notes proposed by the bill
as amended in the Senate, 'i hey are now below
par, and this must atill add to iheir . depression ;
pehaps io the same extent to which the six per
cents are now , depressed. 1 he reason is obvious
The only advantage which they have over atot-ka
in raising a loan, is, thai they are receivable In the
dues of the Government, which gives l hem lo a
certain extent, the character of currency ; but that
advantage is not peculiar to tlie;n. As the law
now stands, notes of solvent banks are also receiv
able io the public dues. They are, in Tact, Tress
ury notes, at far as it depends on receivability, as
much so as if each one was endorsed to be received
in the dues of the Government by an authorized
agent. Now, so long aa the Government receive
bank notes at par with their own, and the banks (at
is now the case) refuse to receive them at par with
bank notes, Treasury notes will be depressed com
pared with bank notes, for the plain reamm that the
latter can pay the debta both of the batiks and the
Government, while the former can pay only the
debts of the Government.
In such a state of things, only a very small
amount of Treasury notes can be used for curren
cy without depressing ihem below par; and wheu
that amount is much exceeded, lliev will sink
rapidly to the depression of stock bearing the
same rate of interest. Very different would be
the fact, if the Sub Treasury had not been repealed.
Under its operation, the Government could r nv
time have issued what amount it pleased to meet a
temporary deticit ot the I re.nury, at a mere
nominal rale of interest, or none at all. The
provision that nothing but gold and silver, and the
paper issued on the credit of the Govero'tient.
should be received it the public dues, would have
k-pt them at par. But aa things now are, it must
be obvious that neither loans in ihtrlisual way, nor
Treasury ooies, can be relil wrtlol make up the
deficit, without ruinous cooequeiuVt. And. here
let i no inform the S-matora on the other side that
they are laboring under a great mistake in suppo
sing that we who preler Treasury notes to loans to
meet the temporary wants of the rreis-airy, are i
anxious to force the use of ilium oo yisj. The fact
is far otherwise. YVe deeply regret to see you
reduced to tlie necessity of using them. We be
lieve ihem to be very uelul and dHiVfiuenl, much
cheaper, and more suf;, lhau loans, to m'J'Jt !!;:t
occasKNial wants of lite Gverniiieut, and , wiih
fgrei, a reort tu Ihuia jiuUf nrcuinslances so
well calculate to docrvdii litem iu public estima
JUoojuiaUsheit, expense of the publirf creditors. " , 7 ,
" VVe have, Uien, arrived at the point tlial we must in-'
crease the duties or Curtail expeiulsurs ; and (lie ques
tion is, which shall ws choo-1 That question will be
ay-saovote we irwahmirwgrve. ftlWiltur'
tcrting that, withi thorough reform in Hie 6ncal action
of lha Government, and a repeal sf the distribution act.
that a revenue ot thirteen inilliout trom the custom!
would be tutficient smply luflicionl for carrying w
ihm r..,rnm.!.it efficientlV. Such would be the happy
effecu of equalising the revaone and expenditurea by a
judicious system of economy and retrenchment, aided
by the restoration ot me revenue nom mo nu
Let me now ask, gentlemen, u mey nave reni.-ciew
on the consequer.ces wnica musi remni huoj wio
native, that of raising the revenue to the standard ot me
expenditures! What has already been the enecta oi
thst policy 1 What is the immediate cause or the pre
sent embarrassments ! What hss emptied the Tree
sury, prostrated the credit of tlie Government, and im
posed high additional taxet on the commerce and labor
oHhe Country! What but the policy commenced at-
he Kxtra iJession or keeping np ttieexpenuHures io vm
nrMfttil hiirh stsnilsnl. and whiish. if ws may tuOge by
this measure, and the declsration of the chairman of
the Committee on Finance, it is detonnioeu io aonere
to! Csa any one doubt that if there baa toeo no
change ot jwlicy-if that so earoestly pressed by my
friend behind me, of reducing the expenditutes, had
boen continued, but that the existing einbarratsinenta
would have been avoided 7 Ui you, wno nave revenwa
the wiae and judicious course then commenced, rests
the moct wasleful expenditurea at the same lima ti.:
cama the Compromise act, which entirely exempted
one-half of the imports trom duties, in ordor to eacsn!
the growing evil ot sued a surpiua, and reduced tha on
tenth, every two yeara, on all the duties above twmitt
pdr cent, in order to get clear of the protective polic
Under their operation, aided by tbe benoaita
surplus was absorbed, and the revenue graduill.
brought down to the proper level ; to meet tlie descend
ing revenue, a reduction of expenditurea was
ced, with the intention ot equalizing the revenue and
npvuuiuits. a uow a kiwug ui pariv loos place ! tha
one coining in professing a grsater love for economv
and retrenchment than tlie one going out ; but instead
of fulfilling their promises, the public expenditurea have
seen incrossrq oj minions oeou comractei revenue
from the lands squandered and all thia when the in
come was reduced to the least possible depretskm'
Take all in all, can folly, can infatuation go farther.
BANKRUPT LAW.
tbe responsibility. It is you who have omptteo tne
Treasury; you who have hsve destroyed lbs credit of
the Government, and caused the present emburass-
ment - ' v , - i
But vou are at the beginning of tbe difficulties.
Those that are to Come, unless you chsnge your course,
are atill more formidable. Tbe power ot borrowing, io
every form, short of usurious and ruinous interest, is
gone, and can you espeet to raise trom commerceelono
the means of meeting the expenditures at tne present
hicrh standard I 1 pronounce it to be bevond vour pow-
er to raise twenty -five millions annually from the eat
tome. So Urge a sum cannot be extorted from com.
meree in the present stats of things. A net. revenue
to that amount would require a gross revenue, at the
present extravagant rate ot collectioo, of at least twenty-seven
millious of dollars. Our present exports will
not pay tor an nnportatHsi of more than f.i-,i,wu.
allowing the ordinary profits of trade. From this must
be deducted 810,0(10,000 for the interest oi flew serosa,
which, wjuld reduce-. the imports lo l 15,0004x10.
Deduct tlO,0(K).000 more tree articles, immediately
connected with the manufacturing operations of the
country, and it woo Id reduce the dutiable articles con
sumed in the country annually to 8105.000,000. Ia
tbe tree articles 1 do not include tea and con.-e, wnicn
are now to. It would take to average duty n i- per
cent.' to rail 827,000,000 on 8105.000,00(1. Cao you
in the present state ot things, raise your duty to that
high standard!
I piss over the effects of such a duty, in repressing
the export trade on which the import depends. Be
tween them there is the most intimate relation. Each
limits the amount of the other.- .lo the long run, it ia
acknowledged that the imports cannot, on a fair valua
tion, exceed the export. It ia not lest certain that tl.e
seme rule applied to the exports, whichtjojOieJong
runi'cannot exceed the' imports. Aad hence duties on
imports as effectually restrict and limit tlie amount t
the exports at if directly imposed on the latter. To
repress the one is to repress the other. But, setting
a-ide all considerations of the kind, I directly meet the
question, and say that you cannot extort from commerce
the vast amount you propose.
He who would reason front the past otv this subject,
will be ,really deceived. High duties now will not
give the revenue they once did. The smuggier for
bids. The standard of moralt ia greatly lowered. The
paper system and the protective policy worked a great
and melancholy change is that respect 'The country
is filled with energetic and enterprising men, rendered
desperate by being reduced from affluence to poverty
through the vicise todes of the times. They will give
an impulse to smuggling unknown to the country here
tofore. The profits of regular burners, in the new
state ot thtnga in which the country ia placed, rmK be
low and alow. Fortunes caa no longer be made bv a
single bold stroke ; and the impatience and necessities
of the lare class to which ibsve alroded. and whose
j debta will be spunked by .the Uinirept set, Wj.i
sutmit to recovering their former condition oy so stow s
process. With high duties, tmnggling then will open
toote.nD'inPt finld ti restore their brokae tortee not il,
to be entered by many of the large cists to which I re
fer, to which many will be added from the lower stand
ard of moralsfabo cannot plead the sane necessity. It
to this be added the greatly increased facility for smug
gling, both on onr IN on hern, and tvtem and nontti-
' . 'in'
1 4bstfeaHe'w'wiviefr irt't'iiTT ?
nous items ot Don. log. omni.a.i.l pay, ana me . . , , . ... . , . . .
relative excuses ot inejwu per man, per g,i.i. ami; den, ,IPy r,we U0(r everv head, after each of
per ton. 1 ne comotrn ,n ismh niRiny !' imj ,ni acts of 1824 and 1828, until they reached
I the pre-s-nt point. (Here Mr. U. read from the
' lulkla. ..I ilia viin1ilim. ilrlflpr PAI-K KnJ Ittt
mistake. Those wlm have changrd tins bill into a loan
western trontier-trfH-be-in vain w exycMirTan hlieiHTpir'
.i a. j i. , v i I..- ,t. I I e
, .UNITED ST4TES SOXTH CASOLUia BUT8ICT.
I HEREBY GIVE NOTICE.Thaton th.fi.-
day of February next, I shall hold a Court at my
kmtid i n IT iMalta.lll. It.. I L . . . ...
"" jsmj.iiiu, mi ,u purpvw OI reCClVlug
petitions under " An act lo establish a uniform iva-
tern of Bankruptcy throughout the United States'
and that the aeid Court will be kept open every
day ia succession (Sundays excepted,) until notice
hall be given to the contrary.
Iii the esse of voluntary bankrupts, the Actnrn.
vides that all persona whatsoever, residing in tin
Siate.dtc, owing debts, which shall not have been
created in consequence of a defalcation as a public
omcer, ur as executor, administrator, guardian or
trustee, or while acting in any other fiduciary ca
pacity, wno snaii, oy petition, setting lortb to the
best of their knowledge and belief, list of their
creditors, their respective places of residence, and
the amount due to each, together with an accurate
inventory of his or their property, rights and cred
its, of every name, kind, and description, and the
location and situation of each and every parcel and
portior. thereof, verified on 014th, (or affirmation)
apply to the prope Court, for the benefit of the
Act, and therein declare, themselves to be unable
to meet their debts aud engagements, shall be deem
ed bankrupts within the purview of the Act, and
may be so declared accordingly by t decree of the
Court.
It it my opinion, that all persona coming within
the purview of tbe Act, though they may be en
tirety destitute of property, are entitled to iu bene
fits. ..
I perceive in the publications of several of the
District Judges, a diversity 'orrt.piuioii,"aa t ahiici-"
patcd, on the construction of the act, even in the
incipient stage of proceeding under it ; and I am
aate that other and mora important difficulties
will occur in the sequel. But I am now engaged
in a correspondence with several District Judget,
with tbe view of reconciling, as far as we can, the
discrepancies of the Act, and of aiming, at least, at
something like a uniformity of practice. I shall,
however, hold myself in- readiness to put tbe Act
in operation, according te its spirit and the best of
my ability, whether 11 be amended or not.
The necessary rules and forms, together with a
tariff of fees, shall be given In due time.
According to my construction of the Act, the
petition may be verified before any Judge or Jus
tice of the Peace of thia State ; but I think the pe
titioner ia required to appear in Court, at the bear
ing, either in person er by attorney, to drclare
1 k,m'r'f ti tut nnntite fn tnerf his I'.i iAm mn,
ments.
The" petitioner mist comprise in !! pi iitinn
n ntrai jTpimjj son i I ll in: I' uj.u. saiuM h
adopt the very letter of the Act; Ho must name
the counts in which he resides.
Tbe petitions, when received, will I refined.
for hearing, lo their respective titottd Courts, in
estin, and would thro mm-h light on the u!ijct ;
of these rsmi'rkt. a kno our commercial on
the turn proposed (torn commeice. - Not only has the
but the fsijj!y, of!crtowfft
Dsis sou insus, hivb orrn incruQ.v IVM-"uuvV
uTjicr. 111m is iiiuj;iiiig w im uir.cntj bh'ii p..
extended a frontier, with such unlimited facility fl
practicing it ! Nor will the supply of smuggling fnJe
he confined lo the immediate neighborhood of thf Iron
tier. Tbev will penetrate thronsh the numerous nsids
1 1 and canals leading to the lakes, tar inland, and coin
rine meets euceessfully the llnlish in fair cumpe
vea, .from 1S23 to H10, in illustration of hit
Mnuibj NT.,,- 1 .t IVmiil.-Pr.il lliMt mif.ll allruilit
. i-t marine are s.iMtantia.iy tne ha of (hp pm,wl(e flow could
- acc. w ,.-n imprnssoieut is dis . w , , Duties were laid, not for revenue.
navy ouglit no to j , f ,.,,,.,;, M.-wywas not the obi ml. It
was hut an ittridmit ; and the party in favor of the
! sralAin I tt aaaaa 1. it it f in laralll 1 1. allSPd sliirilkft iKsa
oot.r??;iroJtos:,y. tMMinateruUIhavil-i,jwWe ..j) cirea not bw it was waaied.
nlJe Mc licet, oti it .U-a m to me, when ' ) mn(j Hat w istefu) pernKl, I have hard memliers
dmpare th- jjr-.u m umtu I of their mvil t-stab-) f Cl ul UidH jiience declare that it
tit'01 ; and as th.- eleovnis of tiie expenses of thi 1
commercial nod
same, in ti:nc :
bear an unfavirVi! r- iirir:'i'i wiin tiieirt, on the
... . 1
score ot expitisc. 'i-i h;-r i!li-', in net, 1 am
lish.nmt . itii .111 ! .n illii.:i of outs, util lue
aggregate ep "ni; f lh- 'o, that ours on a full
C J-np-ins n, will 0 ; found M roed tlieirs by fur,
in expense, however vi-wej.
1 hp3 whit 1 friv.e stated wi! excite inqiiry.
It ia a point of vast liiiji irlanc-. It we can bring
our ejsiiditures t an qaalily, or m arly so, with
hers, ml- n.ay then look forward with court U-nc to
the time, as not far distant, wivo, witii our vast
commerciil mirin', ( n ire than to ta.riis of the
British.) e miv wiih proper erfioiov in our
disburse. nent, a. id by Ii nilin thu oh-:ct of our
I'tjieiidllures lo tho-x: which pMpi.-rly Ix-loiig to tin.
was b'.'t'er that tlie money should be burnt or
thrown in'o the ocean than not collected; and they
poke in the true gumui of 1 la l corrupt 104 and
oppresive system. In lact. aft-T it was collected,
there wss a a rt of rtewssiiy tlt.it it sliould bo
sient. Tlie collection was in bank not.-s, and of
all ahsurdilies, one of the greatest is, an aoCumu
latton of sjea an article in the politic tieasury,
whether we regard the thing Ui!f, nr its eff-cis
od the coui'iiuoity and thn liauks. When pushed
lo a great extent, 11 must prove ruinous to all ; and
to sor.n accu.iiul ilion, in -pile of the most wasteful
exjieitiiitoies, may be attrilmled, in a great ilegroe,
t.overuinnnt un'.er tlie constitution, place a navy ,,e oVerthrosi of the banks, nnd the eiiibarrasa.
on tin o:eaa, without increaso of burden on ths(HellU f Government and country. But s
people, mat wm give complete pro'ection to our j,t Wl.fp 1(. ,:,i,Us. for the most part, to their
casts, andcon. nand the resiectof the. world. Hut
il that caniHM be done, if our expenses must ner.es
sjriiy greutly. exceed 10 prop irimii thai of the first
mariuine power lit tbe world, it is well it sh-iuTd he
krtown at once,.lh:
nai we may iua 10 o:nr ineaiis ,Vs!em. was in vain. 11 Hie iimnev was saved
of defence, aud give op what, in that case, froiii mms nl.jwtionable oiij'-cl, it wss sore to tie
lie a nopeiess struggle. 1 a i not u-;iieve
will be tound to be tiio case. O 1
am imprcseed with I'm Isdn-f that
ought not lo chl more in pr-.p.rtiou ihan til.-' ...ji.p. tj.,,1,., cmivicii.io. lluit iIm mru
British. In so n tilings Ih-ymav have thn advau I ,n vain o long as the cauie remained, I
tage, but we will bi f.-und to have c.U .lly greji J -ensj l m a greal meajore re-istance to appropria.
in othera. jiins, and turned my etlorta sgamst the cause; a
From the atatem-nts it tniy In f.iirlv iul-rrnd j Treasury overiliwmg with bank uoies, to exiiaust
than there is g'at r i n lor ec .0 i.nv, under . very 1 w,i.;h, was the only means left of staving the evil,
head of expenditure. 1 am h no means prepared , IK), ,ny ilolioii to cast the bl.i'me on either
list reduction inav h 'el! -tried hv It. It 1 ,,riv Tin I'mll Isv in the svniain ih h Jiru ,.f
fate, 1 hat lliev were among the fiiremost to urge
on tha . course of policy dentined to hasten so
greatly their overt urov. All resisianeo rai the
part nf Ilia minority in Congswa npjxse'd in tne
bdl rf VtM,0K
to ee mistaken, thai tiiey intend lo hx the (wrmiooni
xeiiseshrJoveTriertt'araK
trwiHTiketltarwiliVfTleaTom.-et what iuy left us
is the lowest ainouol 0 which the expenditures can be
I reduced, aud to discharge Ihs interest aiid nnm-ro,! ot
, the debt already contracted or auihorited. Now, sir,
it is clear Dial so large a sum cannot be derived trom
tbe present tariif. as hiirrt aa it his b-er. rsuod. I
I agree with the chairmtn that, Willi our present export pe succcs-rllt With tne regular traue in me ncan ni
; trsde, tne h-svy tuujresi to tw paid on d:bu abroad, 1 1'18 country. Nor ia it lo bs doubtel but thst the Brit
j and the Urge list of tree erue'es, thai it is not site to au'horities will connive at this illicit trade. Look
i esiminte the connuii!Mi of th countrf ot dutiable ar- i the immense iuleresl which they have t turn tha
tides, at more than ijrtu.UiM.UlXI, which, t 20 per cent. "r country, as W as possible, turou(;fi me
r-sind, would give but 17,IMiO,(Km gross, -end's net channel of the St Lawrence, It will give to Great
Britain the entire tonnage lo whatever portion ot our
trade may be turned through that clwnnel a point so
imorUnl to her naval supremacy, to which she is ever
so attentive. Alresdv great tacilitv is aflisded tor
turning the provision trade, both for the hornet market
and the. supply of the West Indies, throu"li it, and
with much auccesa. - .
1 was surprised to learn, tince the commencement of
the session, at I have 00 doubt runel of those who hear
me will be, that a place on the 81. Lawrence almost
unknown, it already the fourth town fn the Uuksi, as
lo the number of vessels Utat enter aud depart in the
year. I refer to Bt.' v incent. at the outlet of Ikt
Ontario. It it the depot fof the British trade, which
descends the 8. Lawrence from our side. To give lite
ami vigor to t vasl trade; which gives her the entire
tonnage ot the outward and inward voyage, is loo Im
portant to be neglected, particularly as it would so
powerfully eoontersrt our high du'ies, and so greatly
widen tho field ot consuinptiiai for her iiitnulscturec.
Turning to the frontier st the othr end ol the Union,
we shall find a great ihrte of facility for smuggling
in thst quarter ; but I abstain from eiiiar ing un it tor
the prr-sent.
Taking all th-'se eanses together, it cannot be dijobt
ed but that smuggling will commence a a much lower
point of duties thap it ever lis heretofore, aud that all
eslealatsys of meresse of revenue tmm mat-;
revenue, according to the present expense of collection.
of not more than 15 .UOO.INht at the oubndc, leaving
ifrltl, HXJ.tKlO annually to be raised by additional duties
on imports, or a corresponding reduction in the expen-
jsosol tho Uiveru'Heiil. VVlncb shall we choose!
I That the reduction may be made and the deficit met,
! aided by the repeal of the distrirmiion'bill, without un
! pairing tin: i Uicieucy ol the Uovernineni, I trust I bare
I saiisfactorily simiwii; not all at once, but enough and
! more, tilii year, to avoid tlua loan, and gradually, by a
I vigorous systiMi ol con.sny, to arrest all fuitber loans,
: an-1 to dviirga lltott that hare been contracted or
authoru-xl. Why then not adopt tlie alternative of
( curtailing expenses! I ps.t the question in all sober
ne to ttiose who are 111 power and responsible. Vou
nlsud pledged, solemnly ,.lolg a lo retiirin -you told
Ilia people that the ex,nses of the (iovernmeut were
extravKnt ; thai tliey couht be reduced 10 a point
lower tlisn 1 have aMi'iied ; and why not redeem your
pi-ilge, wnen I have proved tlut there is such ample
room to do so We, on this side, are snxxms to civ
operate with you, and to carry out wiiii vigor llieeond
wurs wh,ch bad boen 001 nmonced before you came into
psr. VViiv, mMead ot csrrymg on, with atill great
er.vigor, whal had bssn coniriianced, do you bait I No,
it is s rong enough. W ny uo yuu now go lor increase,
instead of reduction!- Why IsUily all your solemn
promna-a, ana prove now lint yuu are in power, thst
1 n- m f
Fftiaala4ictvJJ4-wi4w-he- iTTPT-nf-Albcr-
jJ"rJ?fjJL.N3fdUiie4
y WL.0J lamlico..awiis..Wrr--rvrw1)TB f
and all within the District of Cape Feur, at Wi).
mington. And publications will be ordt-ud at di
rected by the Act. . "
The District of Alhermarie enmprfaes the twn
State Districts of Eden'on and Halifax; the Dis
trict of Tamlico comprises the Districts of New.
hern and Hillsborough, together wiih all that part
of ihe District of . Wilmington which lies to the
Northward s"nd Eastward of New River ; and the
DiMrjct of Cape Fear comprises the remainder
part of the 8tate.
All Communications on the subject ol Bankrupt
cy, addressed ta me by mail, if not post paid, wiU
remain in the office. .
II. rOTTER, fgt V. Staff $
: for DiMrirt of North Carotin.
Fayettteille, Jusuarr 17, 1842.
S G 22 O t 2. .
.is
JOII' WORD
If AS the pleasure of announcing to the inhabitant
a a of Salisbury and iia vicmily, that he hss msde sp
his Dancing Nchnol, M a second quarter, and will com
I applied lo Mime ni Her, and perhaps even
1 li it it
. a
lue coutraiv, 1 1 Monable ; it the sluice of .expend. lure
iiir 11 lid: I -re : , ,i,)iiel in 00a oUee. it was certain to burst liiriuiub
" . . r -
Ill' ue
was
to say w
.1 L . 1
wouu requre initcn irfire nuie am hioiuik i nn
inattun to determine with precision any thm like
the exact amount ; bit it is certai.i tttat iniliious
may be saved, simply hy a j kIicious and sinet
system of tc mio n v, wiilmut nnpairiiig in anv de
vree the eihcmri'-y of ilie (i luvn-nent. H it in
order lo form a more ii:!imtn conception as to the
amount. of that re.i.ic'wti, I proK-Nt lo add to the
aggregate exiense rif Vi'l' seventy. five per cent
Ihe estimated inereasi of the p yulilion of ih
United States aince-then, which will give the
amount that ought to huve been the estimated
expenditure! for this year, ort the aupposition thai
the expense of the G iveniuiQui ouht tn-t, in 'or
dinar y tim -s, to increase faster than the pip ilaiion;
and which, deducted fro n tba actual estnnatet of
the year, will ahow, on that eupoiiioii, to what
amount they ought to h no leen reJueeJ. But ' iii
pariy.- I ne 1 10 1 lay in inn sysiem ine p tiicv
unp'Hing dutiss, when the money waa not needed,
and collecting it in a currem-y, winch to keep,
wimld have beea n ore wasteful s ki ruuiaia,.ifl
possible, than to spend, however extravigantlv. It
is due m jus'ifs lo the late A-l.nintsiralioii, to say,
(h it they had coinniHiKied, 111 good earnest, the
work of reform, and that with so much success, ne
to li.ive ma io a very considerahlo redm'tion in tim
itxM-nditiires, towards which uTnne exerted nun
sell wiih more zeal or greater efJ (;! than the
.S'uitor behind ue, (Vlr. Woodbury,) then at Ihe
rieiid of ihe Treasury Department. 1 1 'is to be
deeply regretted, thai what was then so well begun
lias not been continued by loose who had suc
ceed d.
I is admitted, on all sides, lhat we must equal
'ize the revenue and expenditures. Tne ache . e of
lwrr'witig lo make up an ificreaanig deficit, must,
you are sx zealous for ueuts, ilulies,tnd increase of ex.
pendiiures, s y-ai exhibited seal tor reform w hile you
were seeking power ! ,
Bui oue suswer can be given ; from deep solicitude
or anuUicr piutecuve unii'. - Yes, that same pernicious
sy stem, winch swelled tlieexpumlitures to their present
vssl sunHiiit, m the resl imp-Mimefit 1, t,ir ruluclion.
I. is ths,l w nch h4s made you forget all your promises,
anu wincn ihiw wn'K hi seep up the expenditures ss a
prerext lor impis-iiig duties, n,.t lor revenue, hut in
resluv lor prm.-clioii. , Il m that which is striving to
lore Government to rstuiq to the old and -disastnais
policy which has brought such csltmity on the coun
try, and done so much tu Corrupt its morals and pditics;
and which is now tnrcimr it in rm.ri i !. na
I rtasury maes, st tne hszard ol its crejJit, when it Is
so m-cessarr, in the jiu.M ot the wrecks ot lhat of to
I many of the Stut. s, that the credit-uflhe Union should
klsiid above su-picion. It is thst whioh. passed the
uiatributiiMi bul, and now reui us repeal, which it ia
clear mat Ihe n.-iuiiiin Iruni the land, is indispensable
to meet the demands on thav (internment, and to pre
ser e its crwlit Iut that corrupt ami corrupting sys
teoi out of the wsy, and evety d Ukuaty coiim cle.1
with our finances would vsnih; the Distribution act
would be repe,l-d, ih revehue .,01 the public domain
restored to the Uuksi, and economy, ami retrenchment,
would save their indium, hvexy unco would be
raised in their favor, and the expenditures would he
speedily equalised with the revenue. Were ilusdone,
we would h-si rib more of an empty Treasury of
Inarw, nl Tresmiry n,4 sr.d prostrated credit ; no more
of adilitiousl iiiiiii- Iai.ii d of nuresse, we afuaild
hear the cheerful note of reduction repeal of tixes
sttiKing shackles Irom commi'tce and oivigstiuii and
1 Iihueh'njf the burden of labor.' 1 bartrd tiotlimg ina-
duties, toundeil on the past. will. (nil. It is Ihe up'rioii
ot good judges Hist il Would commence with the duties
as low as 12 per cent on such articles aa I n-n and
silks: but be that aa it niay,iit may be tslMy prislii-ti.il
that He scheme of raising the standard or rev hue lo
the present expenditures, win fail. I piss over the
violation of the compromise, which such a policy neces
sarily involves, its rtiintins effects on tlie irMtt slupli
of the country, now sulll riiig under the greatest de
prewim, and that deep Oiscmilent whirh must Mlnw
in Hie quarter that produce them, I Mm II fortius
myself simply In to tlie Aiisncial question. Itega-d'-d
in that light, I tell gentlemen thai the line of poliry
thejj impose wll fail. They wil hsvetoabandiai it r
resort to intornsl taxes to supply the oeticil Irom com
merce. Yes, you must resiure the revenue Irom Ihe
lands, economise aud retrench, or be forced to resort to
internal tsxes in thn end. Are yon prepared fur th.it!
ask those who tepresenl the great sections to the
0 th and east, ot this, if they have refl-.-cted how that
portion of the Union would be affected by internal
taxes! , I refer not to direct taxes, fur thut, according
to the mode prescribed in the Cousin luioti, can never
be pushed tn any oppressive extreme, hot to excises.
If you have not, it i tune you should ; for fn thn wsy
you are now going, you will soon have lo loarn experi
mentally how il will operate.
There never has been 1 civilixed cmintry within' rny
knowledge, whose moui-ved nllairs have been wnrse
managed than ours tiir the last dnten of yeara. In H'W
we raised the dutn-s, un aa average, to nearly fifty per
cent, when ihe debt waa im the eve of brinf discharged,
and thsreby flissled the country with a revenue, when
discharged, which could sot be absorbed by thn most
lavish expenditures. , Hence the d'Hilile sflbction nf
an accumuMin1 surplus of millions on md'ions, and o
'
mence hia first Isasjons on Wednesday, the 2nd March,
precisely st 10 o'clock. A, M. ' ' ,
A night's school will be opened fw vramg gentlemen.
Salisbury, N. C, Ft-bioary 85, 131Z ' It
ETOTICE5.
pilERE will be mMt on Tuesday of the Superior
Court, (Wnd March next,) on a credit of 0 mmnl.,
tbe splendid . -
ONE LARGE TRAVELLING TRUNK,
and Box, belonging to Or. Austin, deceased. All fsr-
;aons indchte-l to B. Auxiiu'a estate, may expect lo be
sueu it uiey do not piy up beti.re the above ( uurt
C. U. WiIEELKK, Adm'r.,
lit bvni him.
Salisbury, N. C, February 2o, lll '
4i
The lianhrupt Law ! !
HAVING taken considerable pains to acquaint my
self with the provisions of the Bankrupt law, late
ly pased by Congress, I hereby tender my S rvicct
to such aa may wish lo avail themselves of Its benefits.
I aha 1 1 attend the United Statea Cnuit of this District,
and if necessary, the Circuit Court, also. " l'enont
wishing in avail themselves of my services, can see me
on the approaching 0th Circuit of the Superior Courts :
Alt. rwards I shall be tound m my office at Salisbury.
II. C. JONES;
N. B. I take this occasion Incorrect, a prevailing
error concerning this law. Many persona I find, tup
poe that no one, except such aa' owe to the amount of
five hundred dollars can claim ila benefit This it
mistake, for it embraces "all persons," owing dabtt)
who are unable to " meet them," no matter how small
the amount. II. C. J-
Salisbury, Feb". 11, 1542, 3w
IfOR. 8ALK. A first-rate JVew Cooking Slot
on clicap tnrma. i Apply at this Office.
Dcccnilicr 17,lf5ll. Ow.