Newspapers / The Raleigh Register (Raleigh, … / Dec. 13, 1842, edition 1 / Page 2
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, - TKECICSNrS MESSAGE. v m. iw Fiamnfi and tlause f. " ' -r Representatives rf the United States: ; - . s ,n - We have continued reason to express our pro. 1 fcund gratitude to ts great-Creator of all things for numberless benefits conferred upon m m a VPeople. " EieBsed with genial seasons, the hus . band has his garners filled with abundance, m-nA th necessaries ot we, not- lo -'wpe-. latries,;abound in eyery direction. Whilein .w ?1 tho tnema of subsistence, the greatest 1 ,4hifttionft!!tGaavanainau8uwuoiaw v e i which ra have to encounter w- ou v , , prcdsctmSjidtttbome demanwhich n4 j;m.iiitv finds, a partial market : in other regions Thhealthf the country, with partial eiceptions, has for thepast year been well preserved and "under their; freeand wise institu tions, the XStf&to'i&Jtifitevixy. .). hm ' nsumniatioa of the biff h destiny xohiAt an overruling Providence -seems to have 1 marked but -far them. ? Exempt from domestic convulsion, and'at peace with the.wdrld, "we are left free to consult as to ine oest mema w . bcvju ring and advancing the happiness pt the People. Ruck are the circumstances under which you now : assemble in your respective chambers, and which should lead us to unite in praise and thanksgiving to that great Being who made us, - and who pre serve as a nation.-'i''i'.:-A-'- -t 1 congratulate you, fellow-citizeut, on the hap py change in the aspect of our foreign affairs ince my last annual message. Causes of com plaint t that time existed between- the United States and Great Britian, which, attended by ifri- latin r.iTenmstances. threatened most seriously tte public peace. The difficulty of adjusting am icably the questions at issue between the two countries, was in no small degree augmented by theV nad their 'orisrin ..The opinions entertained by the Execuuvense veral of the leading topics in dispute Weretfeak ly set forth in thcMessage at the opening of your late" session.' The appointment of , a special min ister by Great Britain to the United States .with power to aegoiate upon moEtof the pomts ot ait ipriinrjC indicated a desire on her nai t , amicably to adjust them, and jthat minister was met by the - Executive in the same spirit which, had dictated his mission."?; The Treaty consequent thsreon, having been duly ratified by the ,two Govern ments, a copy, together with the correspondence (lUAMiijMUUVU iWf lOf aianaujf vw w- . ted. 1 trust that'wbllst you may see in it nothing . objectionable, it may be the means of preserving, for an indefinite period, the amicable relations ex-. isting .between the two Governments.- The ques x ticn of peace or war between the United States and Great 'Britain, is a question of the deepest m- 'World; since it is scarcely 1 possible that' a war could exist between them without endangeringthe . peace of Christendom. -The immediate eflfect of the Treaty upon ourselves will be felt in the se curity afforded to mercantile enterprise, which, tares ita speculations in the most distant sea; and, freighted with the diversified productions of every land, returns to bless, our own.' -There is nothing iniae Areaiy wmcu, iu ute ejiguvai ucgicc,wiu- Sromitsihe honor or v dignity of either nation- Uxt to tibe settlement, of the ; boundary line, which must always be a matter of difficulty be tween States as. between individuals the ques tion which seemed to, threaten .the greatest em. barrassment, was that connected with the African -slave trade.--'; '- '. i By the 10th article of the Treaty of Ghent it was expressly declared that "whereas the traffic ' in slaves is irreconcilable with the principles of humanity and justice; and. whereas hoth is Ma jesty and the United States are' desirous of con tinning their efforts to promote its entire abolition, it is hereby agreed that both the Contracting bar ties shall use their best endeavors to accomplish - so' desirable an' object." In 'the enforcement of the,law and trea stipulations of Great Britain, a practice had, threatened to grow up on. the part of its cruisers, of subjecting to . visitation ships sailinff under the American "flag, which, while it seriously involved our maritime rights, would Bub- jeci lu YeXAuua s urauca uur untie wuicu n aa daily incteasinsr. and which required the fostering Care of the Government. "And : ahhoagh4-liOrd Aberdeen, in his correspondence with the Ameri can Envoys at London, expressly disclaimed all right to detain- an American ship on the high seas, even: if found with a cargo of slaves on board, an4 restricted theBriUsh; pretension to a mere claim . tovisit and.enquire, yet it could not well be dis cerned by .toe Executive bf the United States how such visit and enquiry could be made without de tentidn on the voyage, and consequent interrup tion to the trade, , -lt was regarded as the right of search presented only , in a new ' form, a4d ,'ex-? '4ressed m difierent words-; and I therefore felt it - to be my duty distinctly to' declare,' in myannuaT message to uongress, i tnat . no . such concession ijf.i; "L J o.-i i r cuuiauvmauct wax uw.umieu ouuev uau both the will and the ability to enforce their own .laws, and to protect their flag from being used for purposes wholly, forbidden by those laws, and ob noxious to the moral censure of , the world. Ta ' king the Message as his Jetter of , instructions, ... our en xunmsier vx, .;..rans leit nimsearrequirea to assume 'the .same groundvjn a remonstrance which he felt it to ho his. duty, to . present to M. Guizot," an4 1 through him to the 'King of the French against what has t3n called the Quintu i pie treaty 4 and his conduct,' In fthif respect,: met With lha BnnTlWaTlrtf tiia flnwariimenit ' In olnaa -f coiuonnity with these views, the eighth article of ' the Treaty was framed, which provides that each nation, shaft., keep afloat in the African seas a , force not less than eighty guns, to act separately . and apart, under instructions from their respective Governments, and for the enforcement ,'of their wilt be seen that the ground assumed in the Mes- ..sage has been fully maintained, at the same time . that the stipulations of the Treaty of Ghent are ' to be carried out in good faith by the two coun ; tries,, and that all pretence is removed for inter ference with our commerce for any purpose whaU ever by a foreign Government.'. While; there, fore, the United States have been standing up for the freedom pf the seas, they have not thought proper to make that a pretext, for avoiding a ful , fihnent of their Treaty stipulations, or a ground for giving countenance itoa trade " reprobated by our laws. A similar arrangementi; by fthe? other great powers could hot fail to sween from the ocean the slave trade, without the interpolation of , any irew pnucipie inio , tne maritime coder; ? we may he nermhte'd tamne that thnvAvatrmlil tKns set will be followed by some, if not all of them. We thereby also afford suitable orotection to the fair trader in those seas, thus fulfilling at the same conziuhUohrif the Treaty con1Tvfc ced all subjects calculated iB- futttra4aT4ead4a-aJ nusunaerwanaiag oeiween xne two Uoysrmnentsi Tiie- territory, o tne united States, commonly called- the OreEron rterritorvi hrihsr on th P.;. tjceaninofth'ef the' 42d degree of latitude. rt i purimu ui wuiut weu uiiwuii ttjp ciaam. DejnriH i.r ii.r .iul nu i.-: . i j r ; ans, is preparing tonow over thoan .'.clj Mch jtretch from the Rocky capun 3 Paci-aecean; ; la ac!7anceof tht f 7l ct'indiTiiaal-.&sfoV-thes . c j -.zB uiit every. 8,"" Ji$ n ly the ItfffcjGtoveOTentsV to , -cL?8 claiaiv.. at WinM In ZTl if ami aaesr! lrcf -tkaUte negotiatioaa, tbi.V any'l v 1 wv.mk5owi bbuuuu policy,; UK2 CODlJl V mg viiih the claims "of justice '.andamanitT."''5.."' -"It would -haya. furnished In aMrar.t thft ntf antmn of enir fellmv-itivana' .'j I ' .rnaVwuii mm m th3 tl !a of pcpulation which has ireclahned what ...... - - - attempt for the time being satisfactorily to deter-; mica those rights, would lead to a protracted dis-. cussiou,- which might embrace in its failure other more" pressing matters, 'and the Executive did not regard it as.proper to waive all the advantages of an honorable vadjustmcn.t of other "difficulties .of great magnitude and importance, because , this, not so immediately pressing, stood in tbe-Way- AJthough the difficulty referred to may not tor se veral years to come involve the peace of the two j countries, yet t shjdl not d$lay to nrge on Great j Britain the importance of. its. early settlemenUr- J NorwilJ other matters of commercial .importance ; to the two countries' be overlooked ; and, I have good reason to believe that it will comport with Die policy of England, as it does with that of the United States,' to seize upon this, moment, when most of the'eauses of irritation have passed away, to cement, the peace and unity of the two coun tries byi widely .removing all grounds of probable , future colhsion. ;rrr" I With the other powers of Europe our relations continue on the most amicable footing. Treaties now existing with them should be. rigidly obser ved,' and every i opportunity, compatible with the interests of the United States, should be seized upon to enlarge the basis of commercial ' inter course. Peace with all the: world lis the true foundation Of our policy, which' can only be ren dered permanent by the practice of equal and im partial justice to ad. Our great desire should be to enter only into that rivalry' which looks" to the general good, in the cultivation of the sciences, the onlargement of the field for the exercise of the mechanical arts, and the spread of cbmmerce-that great civilizer 3o" every land arid sea. J Careful ly abstaining from interference in all questions exclusively; referring themselves to the political interests of Europe, we may be permitted to hope" an equal exemption'from the interference of Eu ropean Governments, in what relates to the States of the American Continent v''-'p'-U-w-;;-!; On the 23rd of April last, the commissioners on the part of the United States, under the conven tion with the Mexican Republic, of the 11th of April, 1839, made to the proper department a fi nal report in relation to 4 the proceedings of the commission. From tliis it appears thatr the total amount awarded to the. claimants by the commis sioners and the umpire appointed under that con vention, was two millions twenty-six thousand and ; seventy-nine dollars and sixty-eight cents. The' arbiter having, considered that his functions were required by the convention to terminate at the same time, with those of the commissioners, returned to the board, undecided for want of time, claims which had been allowed by the American Commissioners, to the amount of nine hundred and twenty-eight. thousand six hundred and twen ty dollars and eighty-eight cents. Other claims, in which the amount sought to be recovered was three millions three hundred and thirty-six thou sand eight hundred and thirty-seven dollars and five cents, were submitted to the board too late for its consideration. , The. Minister of the United State's at . Mexico, has been duly authorized to make demand for the. payment of the awards ac cording to the terms of the convention, and the provisions of the act of Congress of the 12th of June, 1840. lie has also been instructed to com municate to that government the expectations of the Government of the United States in relation to those claims which were not disposed of accor ding to the provisions of the convention, and all orncrs oi cruzens oi me unuea oiaxes agamsT. me Mexican Government -3 7 ; '. .-' He has also been furnished with other instruc tions, to be followed by him in case the Govern ment of Mexico should not find itself in a condi tion to make present payment of the amount of the awards, in specie or its equivalent ' ' I am happy to be able to say that information, L which is esteemed favorable both to a just satis faction of the awards, and a reasonable provision for other claims, has been recently received from Mr Thompson, the Minister of the United States, who has promptly' and efficiently executed the in structions of the . Government, in regard to this important 'subject , :' ..p - , 7 i The citizens of the United States who accom panied the -late Texan expedition to Santa Fe, and who were wrongfully taken and held as pri soners of war in Mexico, have all been liberated. A correspondence has taken place between the Department of State and the Mexican Minister of Foreign Affairs, upon the complaint of Mexico that citizens of the United States were permitted to give aid to the inhabitants of Texas in the war existing between her and that Republic Copies of this correspondence are herewith communica ted to Congress, together with4 copies of letters on the same subject, addressed to the Diplomatic corps at Mexico, by the. American Minister and the Mexican Secretary of State, v ' ' Mexico hai thought proper to reciprocate the mission of the United States to that Government by accrediting to this a Minister of the same rank as that of the representative xof the United States in Mexico. From the circumstances connected with his mission, favorable results are 'anticipated from it It is so obviously for the interest of both countries as neighbors and friends, that all' just causes of mutual .dissatisfaction should be remo ved, that it is to be hoped neither will emit or de lay the employment of any "practicable and hon orable means to accomplish that end. , lhe affairs pending between this Government and several others of the States of this hemisphere formerly under the dominion of Spain, have again, within the past year. beeh materially obstructed by. the on7itaiy. revolutions and conflicts in those coun tries.- Vi - The ratifications of the Treatv . between the United Statesand the Republic of Ecuador, of the 13th of June. 1839, have been exchanged, and that ..instrument has. been' duly, promulgated on the part of this Government Conies are lioW communicated to Congress with a view to enable that body to make sch changes in the' laws ap- piicame 10 our intercourse,wttJi t&at ttepnouc, as may be deemed reauisite. --iA ? S " f v ; j Provision has been made by the Government of Chile for the payment of .the claim on account of the illegal vdeteniibcT of the hrigWarrior at jCoi quimoo, in . 'iixis -uovernment has reason to expect that other clairiis of our citizens against Chile, will be- hastened to a final and satistactory ilose. 8 ; :' ia-jsCW-sai ! "Thei Empire of Brazil has not been altogether exempt from those: con vulsions which so constant- Ivafllict the neighbormg republics. Disturbancea which recently broke out are, nowever, now un derstood to be. quietedV S3nt : these ( occurrences, bv threatening the stability ot the uoyernments, or by' causing incessant and yiolent.changes ? in yiem, or in ine persons wno aumuiivusr uicm, wuu greatly to retard provisionefor a just indemnity for losses and iniuries suffered by individual sUb- iects or - citizens of other States. iThe Govern ment ot the umted States wm ieei a wm ib. dutyt howevef, to consent ft iio delay, riot fina-1 yoiaaoie, m making sausiacuou iur ruugo &uu Injuries sustained' by its own citizens. Many years having; in some - cases, elapsed; a decisive and effectual course bf proceeding will be demand ed of the respective ' governments against whom claims have been preferred. ' - ; i ? fThxatioashanassin war. vhicb so long-prevailed : with the Indian tribes tnhabitingvthi tpempsuia ol r'londa, has happily been terminated whereby 'pur' army has been relieved from a service of the-most disagreeable mara1rter, and the Treasury from a large expeni uwirevv oome casual ouioreaxs may occur, such as are incident to the "close proximity of border and the,Indians ; but these, as in all other eases, inlay be left to the care of the local duthbrifies,' ,.ea-eccasion may require, by the fqrees of the .Umted States. A sufficient; number of' woeps wiHDe maintained m Florida so long as the remotest apprehensions of danger shall exist, yet their duties, will be limited rather to tha gar risoning of the necessary posts, than to the main tenance of active' hostilities. It is to ; be hoped tht a; territory, so long . retarded m ite growth, WU now speedily recover from 'the evils incident to a protracted war, exhibiting, in' the increased amount pf its rich productions, true evidences of returning wealth and prosperity; By '-the prac tice of rigid justice towards the numerous Indian tribes residing within our territorial limits, arid the- exercise of a parental vigilance over their in terests, protecting hem against.fraud and intru sion, arid at the same time using every proper ex pedient to ' introduce among them the arts of ci vilized lifeT we may jfondly' .hope not only to wean them from their love for war,' but to inspire them with a love for peace and all its avocations. With several of the tribes great progress in civilizing them has already; been niade The schoolmaster and the missionary, are found side by side and the remnants, of what were once numerous and powerful nations, may yet be. preserved . as. the builders up of a new- name , for themselves and their posterttyiKio Thel balance in the Treasury 'on" the 1st of January, 1832,. (exclusive of the amount deposi ted with the States, ,Trust Funds and Indemni ties) was $230,483 68. The receipts into the Treasury during the three nrst quarters of the present year, from all sources,' amount to $28,- 616 - 78 ; of which more than fourteen millions were received from customs,, and about one mil lion from the public lands. " The receipts for the fourth quarter are estimated at' nearly eight mil lions : of which four millions' are expected from Customs, and three ' millions and a ' half from Loans and Treasury notes.' The expenditures of the first three quarters of the present year ex ceed twenty-six millions ; and those estimated for the fourth quarter amount to about eight mil lions; and it is anticipated there will be a defi ciency of half a million on the 1st of January next but that the amount; of outstanding, warrants ( estimated at 8300,000) will leave an actual bal ance of about 8224,000 in the Treasury. Among the expenditures of the year, are more than eight -' a a. m M. AAA AAA millions for the public debt, and $ouu uuu on ac count of the distribution to the States of the pro ceeds of sales of the public lands. - . The present tariff of duties was somewhat has tily and hurriedly passed near the close of the late session of Congress. That it should have defects can, therefore, be surprising to no one-- To remedy such defects as may be found to exist . . . mi a. r M m many ot its numerous (provisions, win not mi toclaim your serious attention. It may well merit enquiry, whether the exaction of all -duties in cash does not call for the introduction of a system which has . proved mghly. beneficial in countries where it has been adopted I refer to the Ware housing System. The first and most prominent effect which it would produce would be to protect the market alike against redundant or deficient supplies of foreign fabnes -both of which, in. the long run, are injurious as well to the manufactur es as the importer. The quantity of goods in store being at all iirns readily known, it would enable the IiSportef, with aa approach, to accuracy to as- cenam uie aciuai wanis oi tne marjtei, ana w regulate "himself accordingly. If, . however, he should fall in error, by importing ah excess above the public wants, he could readily correct its evils by availing himself of the benefits and advantages of the system thus established. . In the storehouse the goods imported would await the demands of the market, and their; issues would he governed by the fixed principles of demand and supply- Thus an approximation would be made to a steadi ness and uniformity of price, which, if attainable, would conduce to the decided advantage of mer cantile and mechanical operations. The apprehension may be well entertained that without something to ameliorate the rigor of cash payments, the entire import trade may fall, into the hands of a few wealthy, capitalists in this country, and m Europe. The small importer, who requires all the money he can raise,' for in vestments abroad, and. .who can hut ill afford to pay the lowest duty, would have to - subduct in advance a portion of bis funds m order to pay the duties, and would lose the interest upon the amount thus paid for all the time the goods might remain unsold, which might absorb his' profits The rich capitalist abroad, as well as at home. would thus possess, after a abort time, an almost exclusive monopoly of the import trade, and laws designed for the benefit of all, would thus operate for the benefit of the few, a result wholly unconge nial with the spirit of our Constitution, and anti-re- Sublican in all its tendencies. The Warehousing ystem would enable the importer to watch the market, and to select his own tune lor one ring his goods for sale. A profitable portion of the carrying trade in articles entered for the benefit of drawback, must also be most seriously affected, without the adoption of some expedient to relieve the cash system. The Warehousing System Would aflford that relief, since the earner would have a safe recourse to the public storehouses, and might, without advancing the duty, reship within Borne reasonable period to foreign ports---A further effect of the measure would be to sup ersede the system of drawbacks, thereby effectu ally protecting the Government against fraud, as the right of . debenture would not attach to. goods after their Withdrawal from the public stores. . In revising the existing tariff of duties, should you deem it proper to do so at your present ses sion, I can only repeat the suggestions' and re commendations which, upon .several occasions, I have heretofore felt it to be my duty to offer to IJongre8S. s J.ne j grew primary auu erouvuug interest of thev American People is union -union riot only in the mere forms of government forms which may be broken but union founded is an attachment ot states ana inaiTiaui8 viur other. This nnion m sentiment ana teeung can only be preserved by the adoption of that course of policy which, neither giving exclusive benefits to some, nor lmpuBiug juuue!uu uuucu others, shall consult the interests of all, by pursu ing a course of moderation, arid thereby seeking to harmonize public opinion, and causing the Peo ple every where to reel ana to xnowinai we Uovernment is careiui pi us interests u au aiiae. Nor is there any subject in regard to which mod eration, connected with a wise discrimination, is more necessary than in the imposition of duties oa imports. Whether , reference . be had to rev enne, the primary object in the imposition of taxes, orto the incidents which necessarily flow from their imposition, this is entirely true. Extrava gant duties defeat their end and tobject, hot only by i excitiriin -ther public mind an hostility to the manufacturtag ; interests, but by inducing a system of smuggling on an extensive scale, and the practice of every manner -of fraud upon the rejrenae, which the ptmost vigilance of Govern, tpent cannot efiectually suppress: - An opposite course of policy, would be attended by. results essentially different, of which every interestl of society, and none mdre than those of the manu facturer, would " reap ; important advantages-' Among the tn'ost striking of its benefits would.be that derived from the acquiescence of the country in! this, support, and'the consequefit permanency and ttabihty. which-would be given to all the operations ot industry. It cannot be too often re. peated, thatno s vstem.ef legislation can be wise whieh Is uctaating .nd uncertam.-,o interest can thrive nrider iUisThe ipruderit canitalist viU iiever adventute his capital in maitfactnring es tablishments, 4w, in any other leadirT pursuit of life, if there exists 1 a : sfat of nncf rtaintyjv as to whether theJCk)vernmerit;-wlll repeal to-morrow what it'has enacted to-day;; Fitful profits, how ever high, if threatened with arcinous reduction by a vacillating policy, oiithe nart of Govefrimpnf. 1 will scarcely tempt him to trust tljg money which u-. ..lU 'ift'w. nnmi th iiri - an ALnn 't t'fore. in Lhe snirit of con - cilliation,Vand influenced by- no other desire ,tfcJi to rescue the great interests of the. country1 froji the vortex of political contention and in the dis charge of the high and soleinn duties of the placer which I now occupy, recommend moderate duties imposed with a wise discrimination as to5 their severaTobjects, as being not only most likely to be:drirable,'but -most advantageous ;to every in-" tercet of Society x'- - . " :.1 - The report of the Secretary of the War De-1 partment exhibits a very tuu ana sausiaciory ac count of the various and important interests com mitted to the charge of that officer. It is partic ularly gratifying to find that the expenditures for the military service are greatly reduced inamount r that a strict system of economy has been intro duced into the. service,, and the abuses of past years greaUyformeS'Thef fortifications , on our maritime frontier have tbeerr prosecuted with much vigor, and at many points our defences are in a very considerable state of forwardness. The suggestions in refererice'to'the establishment of means of communication 5 with our territories on the Pacific, and to the surveys so essential to a knowledge of the resources' of the intermediate country, are entitled to the most favorable consid eration.' While J would propBe nothing incon sistent with friendly L negotiations to settle the extent of our claims in that ' region,' yet a prudent forecast points out the necessity of such measures A may enable us to ' maintain our . rights. . The arrangements made for preserving bur neutral re lations on the boundary between us and Texas, and keeping in check the Indians in that quarter, will be maintained so long as circumstances may require. , - , ':''r .'. For several years angry contentions have grown out of the disposition directed by law to be made of the mineral lands held by the Government in several of the States. ' The Government is con stituted the landlord, and the citizens of the States wherein lie the lands, are its tenants. The rela tion is an unwise one, and it would be much more conducive of the public interest that a sale of the lands should be made than that they should re main in their present condition. The supply of the ore would be more abundantly and certainly furnished when to bedrawn from the enterprise and the industry of the proprietor, than under the present system. " ; vvj '.'I The recommendation , of the Secretary iri re gard to the Improvements of the Western waters and certain prominent harbors on the lake$ merjt, and I doubt not will receive,' your serious atten tion. The great importance of these subjects to the prosperity of the extensive region referred to, and the security of the whole country in time of war, cannot escape observation. The losses of life and property which' annually occur in the navigation of the Mississippi alone, because of the dangerous obstructions in the river,, make aloud demand upon Congress for. the adoption of effi cient measures for their, removal. " The report of the Secretary of the Navy, will bring you acquainted with that important branch of. the public defences. Considering the al ready vast and daily increasing commerce of the country, apart from the exposure to hostile inroad of an extended sea-board, all that relates to the Navy is calculated to excite particular at tention.; Whatever tends to add to its efficiency! without entailing unnecessary charges upon the Treasury, is well worthy of your serious consid eration. It will be seen that while an appropria tion exceeding by less than a million the appro priations of the present year is asked by the Sec retay, yet that in this sum is proposed to include 8400,000, for the. purchase of clothing, which when once expended, will be annually reimburs ed by the sale of clothes, and will thus constitute a perpetual fund, without any new appropriation to the same object To this may also be added 850,000, asked to cover the arreages of past years, and $250000 in order to maintain a compe tent squadron ion the coast of Africa; all of which, when deducted, will reduce. the expenditures nearly within the limits of those of the current year. 3 While, ; however, the expenditures will thus remain very nearly the same as of the ante cedent year, it is proposed to add greatly ' to the operations of the Marine, and in hen of only 25 ships in commission, and but little in the way of buuding, to Keep, with tne same expenditure, forty-one vessels afloat, and to build twelve ships of a small class, v A strict system of accountability is established, and great painsare taken to insure industry, fi delity and economy, in every department of duty. Experiments have been instituted to test the qua lity of various materials, particularly copper, iron, and coal, so as to prevent fraud and imposition. It will appear by the report of the Postmaster General that the.great point which, for several years, has been so much desired,' has during the current year been fully sccomplished. The ex penditures, of the Department, for the current year, have been brought within its income with out lessening its general usefulness. There has been a increase of revenue equal to 8166,000 for the year 1842 over that of 1841, without, as it is believed any addition having been -made to the number of letters" and newspapers r transmitted through the mails. The Post Office Lawsj,have beenhonestly administered, and fidelity has been observed in accounting for, and paying over by the subordinates of the Departments, the moneys which have been received. For the details of the service, I refer you to the report. ' , I natter myself that the exhibition thus made of the public condition' of the public anmmistration will serre to convince you that every proper atten tion has been paid to the interests of the country by those who have been called to the heads of the different Departinents. The reduction in the annual expenditures of the Government already accomplished, furnishes a sure evidence that econ omy in the application of public monies, is regar ded as a paramount duty. . . At peace with all the workU the personal lib erty of the citizen sacredly maintained, arid his rights securedunder political institutions deriving all their authority from the direct sanction of the people with a soil fertile almost beyond examX pie i and a country blessed with every diversity of climate and-production, what remains to be done in order to' advance the happiness and prosperity of such: a people 1 ? Under ordinary circumstances thia enquiry could be readily answered. 1 The best that probably could be done for a people in habiting such a country, would be to fortify their peace and security in the prosecution of their va rious pursuits, by guarding them against invasion from without, and violence from within. The rest, for the greater part, might be left to their own energy? and enterprise. The chief embarrass ments which at the moment exhibit themselves; have arisen from over-action ; and ; the most diffi cult task which remains to be accomplished, is that of correcting and overcoming its effects.-. Betweenthejrears 1833 and 1838, additions were madetov "banki4 capital and bank issues, in the form of notes designated for circulation, to an ex tent enormously great ; The question seemed to be, not how the best currency could be provided, but in what inanner the greatest amount of bank paper cpuldvbe put in circulaGon.' Thus a vast amount of what was called mdriey since, for-the time being, it answered the purposes of money was thrown upon the country an over issue which was attended, as a necessary tconsequence, byaa extravagant increase 'of the'price? ;of all artjftles of property, the . spread of a speculatiTe mttiMl over the country, and has finally emled in a general indebtedness on the partof States and individuals, the prostration of public and private cre dit,' appreciation an the market value of reai and personal estate, and has left large districts of conn try almost entirely without a circulating' medium. Inviaw of the fact that in 183a the whole bank 1 note circuhtion within the United States anxrant- ed,to buVC3132388 according.to the Treasu ry t statements, and that an addition had heen jnade thereto of the enormous gum , of C88,C30, 000, in seveir years, (the circulation oh the first of January, 1837, being stated at 8149,185300,) aided by the great facilities afforded in obtaining loans from European capitalists, who were seized with the same speculative mania which prevailed in the TJnited States-and the large importations of funds from abroad, the result of stock sales and loans--no one can be ' surprised at the apparent, TsulwUfltiairstete where prevailedfover the. land ; and while little cause of surprise should be felt at the present prostration of every thing, and the ruin which has befallen so many of our fellow-citizens in the sud den withdrawal trom - cuxuiauon oi so large an amount 1 of bank, issues, since? 1837-i-exeeeding, as is believed, the amount added to the paper cur rency forasimnarperiodltecedentto 1837, it ceases to be a matter bf astonishment that such extensive shipwreck should have, been made of private , fortunes, or that difficultie3Vshould exist A - " -i JU in meeung uieir -.engageuieiiia -vu ; ukj. ucuiur StateK- 'Apart froin whichif there be.Uken into account' the immense loss sustemed in the dis honor of numerous banks, it is Jess a matter of surprise that insolvene should have visited many bf our' fellow-citizens, than that so'many should have escaped the blighting influences of the times. In the' solemn conviction of these truths, ; and with an ardent desire to meetthe pressing necessi ties of the couritry,! felt it to be my duty to cause to be submitted to you, at the late session, the plan of an Exchequer,..the whole power and duty of maintaining which, in parity and vigor, was to be exercised by, the Kepresentatrves of the Jreopie and . the States, arid, therefore,' irirtually by ' the People themselves. It teas proposed to place it under : the . control end direction "of a Treasury Board, to consist of three Commissioners, whose duty it should be to.see that the law of its : crea tion was faithfully executed, and that the great end of supplying a paper .medium of exchange, at all times convertible into gold ;ahd silver, should be attained.: The. Board thus constituted, was given as much permariency, as could be imparted to it, without enaangeririgthe proper share of res- Knsibility which should attach toall public agents, order to Insure .all the T advantages "of a well matured experience, the Commissioners were to hold their offices for the respective periods of two, four, and six years, thereby, securing at all times in the tnanagement of the Exchequer,, the servi ces of two. men of experience ; and to place them in a condition to exercise perfect independence of mind and action, it was provided that their remov al should only take place, for actual incapacity or infidelilty to the trusts, and to be followed by the President With an exposition of the causes .of such removal, should it occurl It was proposed to" establish subordinate boards 4n each of the States, under the same restrictions arid limitations of the power of removal, which, with 'the central board, should receive, safely keep, and 'disburse the public monies; and in order to furnish; a sound paper medium of exchange, the Exchequer should retain of the revenues of the Government a sum not to exceed 85,000,000, in specie, to be set apart as required by its operations, arid to pay the public creditor at his own option, either in specie or Treasury notes, of denominations not less than five nor exceeding one hundred dollars, which notes should be redeemed at the several places of issue, and to be receivable at all tiiries, and every where in payment of Government dues; with a, restraint upon such issue of bills that the Same should riot exceed the maximum of 815, 000,000. In orderto guard against all the ha zards incident , to fluctuations in trade, the Secre tary of the Treasury was invested with authority to issue 8500,000 of Government stock, should the same at any time be regarded as, necessary, in order to place beyond hazard the prompt re demption of the bills which , might be thrown into circulation. Thus in fact matung the issue of 815,000,000 of Exchequer bills, rest substantially on 810,000,000 ; and keeping in circulation never more than one and one-half dollars for every dol lar in specie. When to this it is added that the bills are not only every where receivable in Gov ernment dues, but that the Government itself would be bound for their ultimate redemption, no rational doubt can exist that the paper which the Exchequer would furnish, Would readily enter in to general circulation, and be maintained at all times at or above par with gold arid silver ; there by realizing the great want of the age, and fulfilling the wishes of the jPeople. , In order to reimburse the Government the expenses of the plan, it was proposed to invest the Exchequer with the limited authority, to deal m bill of, exchange, unless pro hibited by the State in which an agency might be situated, having only thirty days to run, ' and resting on a fair and bona fide basis. The Legis lative, will onlhis point might'be so plainly 'an nounced as to avoid all pretext for partiality o fa voritism. It was furthertnore proposed to invest a Treasury agent with authority to receive on de posite, to & limited amount, the specie funds of individuals, and to grant certificates thereon to he redeemed, on "presentation, . under the idea. which is believed, to bewelT founded, that such certificates would come in aid of the VETchenner- bills in supplying a safe and ample paper circula tion. Or, if in place of the contemplated dealings in exchange, the Exchequer should be authorized not only to exchange its bills for actual deposites of specie,, but for specie for its equivalent to sell drafts, charging therefor a small but reasonable premium, I cannot doubt 4 but that the benefits of the law would be speedily manifested in the revi val of the credit, trade and business, of the whole country- ' Entertaining this opinion '. it becomes my duty to urge it&adoption upon Congress,' by reference , to the strongest considerations of the public intereste, with such alterations in its de tails as Congress, may in its wisdom see fit to make.'-; '' : i "ft '- ;. Iam well aware that this proposed alteration and amendment of the laws establishing the Trea sury Department has "encountered various objec tions, arid. Chat; among' others it has : been - pro- ciaimea a Movernment Jtsank. of fearful and dan gerous import. It is proposed to confer upon it no extraordinary powers. It purports .tot do' no more thaa pay the debts of the fJtoyerament with. the; redeemable , paper of the Govemmentin which respect it accomplishes precisely what the Treasury does daily at this time, in issuing to the public creditors the Treasdrj1 notes which, under law, it is authorized to issue. It has no resent blance to an ordinary , Bank, .as it furnishes no profits to private stockholders, and lends no cap ital to individuals. If it be objected to as a Go vernment Bank, and the objection be available then should all the laws in relation to the Trea sury: be repealed, and the capacity of the Govern ment to collect what is due to it, or pay what it owes, be abrogated, i r : . , 4 " This is the chief purpose of the nrononed Kt. chequer ; and surely if, in the accomplishment of purpose so essential, n anoros a sound circula ting medium to the country and facilities to trade, it should be regarded as no 6light recommenda tion of it to public consideration. .-. Properly guard ed by the provisionsct Uw, it can; -run: into no dangerous evil, norJean any abuse arise under it but such is the Legislatureitself will be answer: aWe fori if it :bet tolerated; since it is" but the creature ot tne law, and is susceptible at all times of modification, amendment or rerieaLlt the Dies. sure of Congress. 1 know - that 4 it has been oh. j jectea that the system wonld be-hahle to be anus. eu ny tne- legislature, by ;whom' alone it could be abused, hi the party conflicts of tfie 'day;r That; such abuse would manifest itself in a change of. the law which would authorize an excessive issue of pater fW.the nurnose " of infl, . ed, that the ascription of such a m J... r118!. different conclusion. tBut. a perfect to 1 against a' proceeding so reckless, would hZT to exist m the very nature of things. Tte r1 cal party which should be so blind to tW01 teresta of the country, as to resort to sach? a' pedient, would inevitably meet with final x throw in the fact-that, the moment thT n Ver ceased to be convertible into specie, orott, promptly redeemed, it would become worthi '186 mvolve thepeople mi rain and such political? ty in hopeless disgraced ? At the same timei 1 a view involves the; utter unpbssibility of fnr?? ing any currency other than that of theWL metals, for, ifthe Government iteelf cannot go the temptation of excessive naner aan LT- reliance can be placed in corporations npon J? the temptations of individual aggraidiJ! would most sti-ongly Operate I The People have to blame none but themselves for anv Ttf (tilt minlit 'm.i f.. - have to blame none but themselves for any in ry that might arise, from a course so reck? since their agents would be the wrong-doen. ",!!! they the passive spectators. ,m ; There can lie but three kinds of public cnr cy. Ise Gold arid Sflver, 2nd. The per Sf institutions ; or, 3d. A representative 'of the f cious metals, -provided by the General Gove ment, or.under its authority. :The Sub TreaT ry system rejected the last in any form ' and ?" it was believed that no reliance could be dIoVaS on. the issues of local institutions, for the pm of general circulation, it necessarily andluiad ably adopted specie as the exclusive currency ft its own use. And this must ever be the ca& n less one of tiio other kinds be used. The choi mtfie present state of public sentiment, lie8 ' tween an exclusive specie currency on -the Z hand, and Government issues of some kind on the other, i That these issues cannot be made by chartered institution, is supposed to be eoncln sively settled. ; They must be made, then, direct ly-by Government agents. For several years" past they have been Hhus made in the form of Treasury notes, arid hare answered a valuab'e purpose. Their usefulness has been limited bv their: being trafisient arid" temporary their ceas. ing to bear interest at given periods, necesBanlv causes their speedy return, and thus restrict their rarigeof circulation, and, being used only i the disbursements, of. Government, they cannot reach those points where.they are most required. By rendering their use permanent, to tie mode, rate extent already mentioned, by offering no in ducement for their return, and by exchanging them for coin and other values, they will colsti tute taa certain, extent, the general currency so much needed to .maintain the internal trade of the, country. And this is the Exchequer plan, so far as it may operate in furnishing a currency. I cannot forego the occasion to urge its impor. taricf to the credit of the Government in a, finan. cial point of view.-; The great necessity qf . sorting to'every proper and becoming expedieat in orderto place the Treasury oa a footing of the highest respectability, is entirely obvious. Tie Credit of the Government may be regarded as tha very soul of ..the .Government itself a principle bf vitality r without which all its movemeutaaje languid arid all its, operations embarrassed. Ia this spirit the Executive felt itself bound by the most imperative "sense of duty to submit to Con gress, at its last session; the propriety ofnaking ft specific pledge of the landVas the basis lor the negotiation of the loins authorized to be contrac ted. I then thought that such an application of the public domain would, without doubt, have p!a. ced at the command of the , Government ample funds to relieve the "Treasury from the temporary embarrassments 'unaer which it labored. Ameri can credit has suffered 'a considerable shock in Europe, from the large indebtedness of the Statei and the temporary mability of some of them to meet the interest on their debts. The utter and disastrous prostration of the United States Bank of Pennsylvania; had contributed largely to in crease the sentiment of distrust -bv reason of the; loss and ruin sustained by the holders of its stock, a large portion of whom were foreigners, and many.of whom Were alike ignorant of our politi cal organization, and of our actual responsibilities. It was the anxious desire Of the Executive that, in the efrt to negotiate the loan abroad, the A mericah negotiator might, be able to point the mon. ey lender to the fund mortgaged for the redemp. tion of .-the prineipaLand : interest of any loan he ought contract, and thereby vindicate the Govern, ment from all, suspicion of bad faith or inability to meet its engagements. Congress differed from the Executjve iiithir vie w of the subject It be. came, nevertheless, the duty: of the Executive to resort to every expedient in its power to negotiate the authorized loan. , After a failure to do so in the American market, a citizen of high character and talent was sent to Europe with no better sue cess ; and thus the mortifying spectacle has been presented . 'of the inability of this Government to obtain a loan' sp small as not in the whole to a- mount to more than one-fourth of its ordinary an. riual income ; at a time when the Governments of .Europe,,' although invoked in debt, and with their subjects heavily burdened with taxation, rea- aiiy oDiara loans oi any amount at a greatly redu ced rate of interest 'It would benriprofitable to look further irito this 'condition of' things, But I cannot conclude without adding thaVfor & Gov ernment which has paid off-its debts of two wan with the largest maritime power of Europe, and now owing a debt which is almost. next to nothing when compared with ite . boundless resources, a Government the stroCrest iri the world, because emanating from thp popular Will and firmly root ed in the affections of a gteatand free people, and whose fidelity to its engagements has never been questioned ; for such a Government to have ten dered to the capitalists of other-countries an op portunity for a small investment of its stock, and yet to have failed, implies either the mostunfoun- aeu aisirusi. m iia goon iaiin, or a. purposer w vw tain which, the course, pursued is the most fatal which could have been adopted. ; It has now be coriie obvious to all men that the Government must klook toits own means for supplying its wahts.rand: it is - consoling to 'know that these meang are altogether adequate for the object. , The , iixchequer, if ad&pted, wiU greatly i bringing about this result. Upon what I regard 9 a -arBllfrrmdorl Vtinnnaitlnnhut f Ji bills WOUW tiereadUy sought for by the public creditors that the issue wouM m a short time .reacfithe maximum of $15,000,000; it is obvious that 000,00a would thereby be added to the available means of the Treasury, without cost orccharge. Nor can I fail to-orge the great and beneikiaiei fects which would be produced maid of all the active pursuits of life; Its effects upon the sol vent State banks, whne it would force into Iwuk dation those of asTopposite character through weekly settlements, would be highly beneficiaU ri1 tintW tka aAmnturrom nf ft sound CUrrenCTt tDS Restoration confidence an creaii wooiu rj with a mnnerous tra of blessings. My conwo tions are most strong that.;these beneiitswouia flow from ittoadoponc this measure; but it uw result should be adverse, there is this security connection with it, that the law creating it may w repealed at the pleasure of the Legislature , wiu out the slightest implieatii of its good faith. , . I recommend to Congress . to take intoconsi deratioB the proprietyt crfre-unbersing a fine im posed on General Jackson, at J(ew Prieans at m time of the attack and defence of that city and pa bf han. i Without designing any reflection on tne judicial tribunal which imposed the fine the remis sion at this'damay be regarded as riot unjust or mwrpedient, The voicedthe citU authority I
The Raleigh Register (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 13, 1842, edition 1
2
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