Newspapers / The Oxford Mercury, and … / Dec. 16, 1841, edition 1 / Page 2
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! ' . ! i : ' ' 'i i r '-- .' -, ; ; -li . . ; ;- r. I- -, -, 11 . . I - : ;-.-.-: iU:- ' ' r; vear: but this is owing lo circurr.- Uncei nal : way! indicative oil anv abatement of the. desire of both to hasten the negotiation to its fpnclu- . Mn; and to settle the ques tlispute, at early as possible. ion in In the course of the session, it, is my hope. to be fable lo announce some Idrlher degree of progress, towards j le ac- rompiisnment pi inis pigmy- uesira- ble end. i The corn mission appointed this Government for the explorat ) i and .survey, of the line of boundary.; sepe ralinjj; the States of Maine and New Hampshire from the conterminous British Provinces, is, it is believed, 'about to close its field labors and is expected soon to report the results of its examinations to the Uepartrnfent of Slate.'- The rerjort, when fecjeived, will belaid before Congress.1 !'.'.' . The failure on the part of So iin to pay,' with' punctuality, the interoiit due -under, the Convention of 1834, or the settlement of claims between the twa countrieshas mrde it the dulyl .of the ''Executive lo call the particular Atten tion of that Government lo the s ubject. ;A disposition has been manifei id by " it, which Is. believed .to'.- be entirely sincere, to luiiil its obhgati 4 ft in i this respect so sooii as its i ernal i condition and'the state of its nances vili pfcrmit. An arrangemcn progr$s from. the result of vvlji is trusted, that those of "our i who have claimVunder theCbny will, at no; distant day, recen stibulated navmcnts. ; Ui lis in tizens ention the , j. ,( - . . if r A Treaty ol Commerce arid Navi-a ticn with iJelgium was concluded and signed ot Washington on thaJ29th March, 1840, and was duly sarfction ca by the aennieiol the United States. t The Treaty was ratified by Hii Belgi an Majesty, but jfid not receive the approbation of.thejBelgian 'Chambers 'within the time limited by its f terms, -15.. I . . 1 A riuu ii.J3 iiicrcior.e uecome voiu. This occurrence assumes Hie ver aspect from the consideration Ihat, in 1833, a Trea'ty negotiated bet ween the two Governments, and ratiti jd on trie part ol the Udited Stales, ft ed to beralified on thelpart of Belgibni. . lite tlspreserttatiye on the Hart of that Government at Washington, in forms the Department Tof Slate' that 1 delay in the approval of the lat JTrea - ii ty by the Legislature, and to depress i e . l 'i'rt . . .i I l me regrei oi ina jvmg at tne occur re nee. r I . The' joint -commission under the Convention withlTexas, to aHcrth i in the true boundary between i ne two countries, has concluded its labors; but the final report of the cijiimis aioner of tho; United States 4iks not been, received i It is undeKtood,1 however, that the meridian li rie, as traccdjby the commission, lies some what f'jrther East than ; the (osilion hitherto gcnerall assigned tb, andj consequently, includes in TexU some p;ut of Ehc territory which hid considered as belonging to tlje States of Louisiana and Arkansas. The United Slates cannot Mvit take a deep interest in whatever relates to' thu young,, hut .growing IWbublie. .Scttliid principally by emigra Ai from the' United States, 'w'c have thl iiappi-j or inn-! i pies of' civil liberty are there to floUrish, under wise, ins UMIIICU . ..4' . I I lulions and wholesome Jawsrand that through . -- iii. its example, another evidence is tobej afforded of the capacity of )lvj)ular institutions lo(a(Wance the pr-osijerityj happiness, and permanent glory of xne numau race. i lie srcal truth. tint government j was made for the people, and not the people for , ; inenlk has already heeh cdia'bl shed in the practice and by the exa ijple of these trnited slates; snd vve can. Uo. no other tlian contemplate it4 further exemplification by a sister Republic, wrtli the dcrpest interest ! ' I '..Our Tel t ion . with the tndejndcrii States.of thi hemisphere, Aiiinerly uniler fbe dominion of .fepaiib have not lnMergone any material change u uniu uie past , year. l be itlQisaut X.9 s-inguinary conflicts in, or be those countries, are to he gieit , iplorcd, as necessarily tenfling II.. f U . i Til Die ihemlrom pc.i lorming the r nn .mepbers of; the community i lions, and rising to llic destiny bf na,j which jtlte position and natural resjufces of inany ol them might lead the ti justly 1 0 anticipate, as constantly giV tnz oc Ciis:onf aUo, dircftjy 3: iiulij:ectly,f -. PL1. -'J-L1 tween ly de- tlisn- mines o for comnlaints on the narl of our citi l r' i . - - - zens who resort - thitlier fof purposes ofj (jorniTiercial intercourseand asrei tarding'reparation for wrongs already committed, some of, 'which are1 by no means of recent date. .i.f7. ; 'Ijhej failure of the; Congress Ea-r cail or jt!o hold a sessrjoni at ilhe time appointed for that purpose, in January lasti will probacjy render abortive a treaty of commerce with tha Iic,"wli1ch was signed at Qui I3tb bjf June, 1839, and I lepub o on the had been duly, ratified on our part-but which rerjtiijred the approbation of that bo4y7 Kciia- prior to tjie; ratilication by the dorian Executive, V : A Convention which has. been con eluded with the 'j Re public of Peru, p r o v i d i n g f o r i h e s e 1 1 1 e m e n t o f c e r t a i n claims of citizens of the United JStates, upon the government ol that Reijublic will be duly submittedto the Senate. . 'fhe: claims of our citizens against the Brazilian government, originaiins from captures,! and other causes, ate Miii.unsausueo. i ne uniieti stales have, however, so uniformly shown a diipbsitlon to cultivate relal6ns of amity! with that Kmpire, that it is hopetl, the unequivocal token? of the same spirit towards us, which an ad ju"stneni ofj .the affairs; referred to w ould afford, wilk be giveiv without further Avoidable delay, f 'k 1 1 The war with the Indian tribes on the peninsula of Florida has,) during the lastjsummer an j fail, been proe- c u t e jd j w: i t h u ni i r in jact Ivi t y. &a d r.ta 1 . 1 A summer campaign. was psolved upon, as the best mode of bringing it to a close. Our brave officer and men whof have been engaged in 'that, service, have suffered toils and priva 1 1 o ns, an d'ex i hi el au -en er y ; wJVtch in any other war, tyould have won for them unfading laurels. .'In despite of the sickness incident to the climate, they! bWe penelriited the fastnesses of the Indians b ro k e n up their e ricamp ntenlsjand bafsed them unceasingly. JsJ u in bers have been ! ca ni ured . .a vu still greater jnitmbeis have surrender ed, and have been transported to join their brethren on the lands. elsewhere allotted to tiem fby) the "Governments and a strong hope is entertained that, under theconducl of the gallant officer at theThead of the Hoops iiv Florida. t h at rou bleso m e a ud e x peii s: ve war i s are enjoying the Idessings ofi peace. Our duly, as; well as our best interests prompt u to observe,1 in all buriinierr course with'them, fidelity in fulfilling pu r e nga ge m e n t s, X Ijie jira ct i ce p f st i i c t 'Cill.lllV WIUV.I,' 1 UVHdll .justice, a well as the constant exer cise of ads of benevolence and itind n-ess. . Thesni are the great instrunr.entji of civilization, and through the use of them albnc,! can the untutored child of the iprest be induced to. listen to its teachings. The Sco.ietary of Sta e, on whom he1 acts! of Congress have deVoJved jhe' duty of directing the proceedings (b r t h e t a k i u g o f t he Sixth? Census'; o r enumeration of thej inhabitant oflthe United pates, will j report to the two Houses v the progress j of that work. The enumeration of perse n ha been completed, a.nl exhibits a grand total of 17,069,453 ; making - an increase over the 'Census of .1830, of 4,-202,-64G itdiabitants, and showing a gain in a ratio exceeding 32 percent, for the ast ten. years. . : . ;; ' ,:. . jk:-.-:.:' From the report of the Secretary ol ihe'l reasury, you will be informed of" the condition of !thc .finances. ! The .ii;iucc;iii mB i ieasury on ine; 1st 01 j January last, as stared )n tliejreport ofj the;. Secretary of t lie I reasury; ! sub milted to Congres-at the Extra Ses siorj, was S9S7,'3Sj03j The receipts nl9 J thb Treasury during the first three .quarters of this) year, lrom all sources, amount to $23,448,052 52. The estimated receipts for the fourth quarter i amount lb 6,943,095 25, amounting to S30f,410,167 77; and making, with the balance in the Trea sury, cn the 'first! of j January last 31,367.512 SO. frhejexpendiiures for the first three qtiarters of this year, amount ;to $24,734,346 97. The ex penditures, for the fourth quarter, as estimated, will amount to 7,290, 723 73: thus making a total of S82,- 025,070 70; iajid leaving a deficit to e provided for, on the first of .Janu- ai v "ex!, oi iiuuui ou ,Jvv uJ i: Of the loan of S 12,000,000, which was authorized by Congress at its-late session, only 5,432,726, SS (jnave il...' '-! C . U .. ? rn k e l-inn ' . : ' ! been negotiated. The shortness of lime which it had to run, has presen ten -no 4nconsider?bre lhpedinient in i 1 . i i . . - r . . . the way of; its being takcE by capital isis ai no me, wntie tnt same; cause ivbult have operated wit! jmuch great er force in he foreign fpdrket has not beenf resorted to ; and ityrnow I sub mitteij, whether it w&jjidthot beadr visable tp amend the latf, by making, what remains undi.spose?!,Vp3yabIeat a' more distant day. j JJV- j I J j 1 Should it be necessary, in any view that Congress may take of the subject; to Revise the existing tariff of duties, Iv beg leave to sa', thatr in the ' per-' form a nee of thatLmbst deliMe'bpeiva: j tion, moderate counsels would seem to, he lie- wisest.) The Government j dnA inducements to prosecute the in which it is-ouKhai)DjnessNo ndihTi bat 'his researches cbri id bnlv uniier livef owes Its existence ipjhe spirit of j Compromise which prevailed) ampngJ its lramers--jarring and discordant (ipinidns cojuld only have, been i reebn, ciled byjlhat noble spirit of patriot ism, which prompted conciliation and resulted in harmony. In the. same spirit tl ie compromise mil, as it is 1 ommori .i ly called, was adopted at the session of IS33. TO the people ol rjo; pcrtion jof the :' ulno'n"', will evei hesitate to pay all necessary taxes for the support of Government, vet ! an innate repugnance exists, to the un- position ot burthens not really neces- fbr that obiect. In imnosine (utiesiioVever, for the purposes' of revenue, a fight to lUscrimiiiate as to tjie arlipesjonrwhich the tluty shall be laid, as well as tho amount, necessa rily and most properly exists. Oih- erwise tne; Government would be placed in the condition of havlngj to leyyi ti same duties upon all articles, the productive, as well as the unpro ductive -. The slightest duty- upon some might have the effect of causing theiii importation to' cease, whereas others entering extensfvely into the consumption of the country, might bear the htaviest witijout any sensible d i ni intilion in jl he a & ou n t i imported. So also-the Govern went may be ; ius- tifi ed in.jBo diicsi mi atiogj by refer- ejnee to! other consif erations of dp- mesne policy, con L . 1 : . leciea wnn pur manufactures. So shall be laid wit h d the wants of the T png as the dutie tinct reference t o aiury, co- w-ell founded 'objection an exist against them. ble lhatfc no such aur ?ienlat4onofr the cecds distribuiiph af of the Jast ses ficn, which net is declared to be in o perativci.1 h e mom em I he duties; are increaedjbeyond 2(Fpet:j cent., ; the nSax5 n ii m. rat e est bl ish ed b v t h e rti 1 !-iv M . '"; -J--." - .ft-. ; ' -. y . iyompr m ise act, w b ten w i gh j p I o ellect on the s 30th djy of June next, may, howev er, be round exceedingly liCohvni nient in praVlice. under anv reguiaijons tnat congress may adopt tt referjwbre parlicuSrly to that re fit ihg to the home vajuilion A differ ence in yalue of the same articles to some extent;, will, necessarily, exist at different ports but that is altogeth er insjinificrit, vvherr compared with ihe conflicts in valuation, which are likely to arise, from the differences ol dpinion among the niamerous apprais ers ot merchandize. In manv instan- cies the estimates of value must be con- and thus as many different ' value may be established as jectura rates o there are appraisers. , These differ ences in valuation may also be in--creasetji by the inclination, which, ivithout t'he slightest imputation on th eir honesty, ni a v Wise on the nart of the anpraisers in favor of their res- pective poTt ot entry. ; I recommend (his vboIe sbbject to the consideration of Cbnres j with a fingle additional remark. Certainty ajid permanency in anysyiiten of governnientai policy ' re, Jn!a respects, eoiinentlv desira ble; but more particularly is this true in all that affects trade and commerce, j h e op r a tio n s o f w 1 i i c h d ep e n d m 1 1 c h mo re o;n the certainty of their returns, ind caciilatiohs which embrace dis lant periods of time, .'than on high bouttil;s, Or dutie?, which are liable to cbhsMftt llutuations. I L I JAt your late session," I invited your attention to Jlhe condition of the cur-ii-ency Jnd exchangei?, and urged 'tjlie nocessjt y bfj adopting such measures as were consistent -with the constitu- t ! i 1 i - .. n I - I 1 .- uonai competency ot tne Uovernment, jin order to correct the unsoundness of jlhe onj, and as far as practicable the inequalities .of ln?eT7 couh Iry can besin4thiofpiKAtbf its full measure ot; prosperity without the it' ii I I I '.. '..n . . i presence of a 'medium of exchange. rapproximau ng tounifoimity of value, What is 'necessary as between the dlf ferent nations of the earth; is also im portant as between the inhabitants of different parts of the sam country; witjh the firsUhe precious tnetals con st Hut et h e'ehief rn ed in m b f i rcul at ion , am su.eh ?4so vou4d be the; c-s a to the Jast, but Cor ' in vehtioris xbmpar tively modern, which have furnished, in place of gold and ? silver, a paper circulations I do not propose tto cn tersnto a cptftparative am lysis of the merit of the tyro system Such be longed more properly to the period of thelintroductioh of the naner system. The sneiulative nhilosonher i misht leatl him to conclude, that? the! paper system had probably belter r never have been jritroduced; pnd jthat'socie t v e:ni nave' oee n in inn nap - ' i .1.1 with out it.: I he practical -statesman, has a very different task to perform!, lie has jo look at things as they are to take them as he finds themj to supply daficiencies, and to prune excesses as far as in hino liesl The task of fur nishing a corrective for derangements of the paper medium with us, is almost inexpressibly great. The'pbwer ex erted by the Stales to charter; banking corporations, and which, having been carried to a! great excess,' has filled the country with, in most of the States, an irredeemable paper medium, is an evil which, in some way) or oth er requires a corrective. The rates at which bills of exchange are nego tiated, between different parts jof the count ryi furnish an index of the val l ... - . , . - ..... i ;r i ue, of the local substitute jor gold and silver, which is, in many parts so far Ueprieciated,r as notjto be received, except at a discount, in pa' me nt. of debts, or in the purchase of produce. It could earnestly be desired that every bank, not. possessing the means of re sumption, should follow the example of the late j United States Bank, of Pennsylvania, and go Snto iquidation, rather .thab by refusing o do so to continue embarrassments in-trie way of solvent institutions, ' thereby aug menting the difficulties incident to the present conditioifof things. Wheth r"lhis Government with due regard to the rights of the States, has any poweri to constrain the banks, either to lesumespecie pay mentsj or to force "llifm. intoVinQiii.a,tloh1; j-y-iq - mnirirv . winch wTir not fail to claim your con sideratidn; j f In view ' Qihq j gr;eat a?d yahtages which are allovve . tlie cor poral ot, not among the least of, which is the authority contained in most of their charters to rnake loans to three times the amount :ol their capital, thereby often deriving; three' tkines as much interest oh the 6ameram6unt of money as any jndivniua lisf permitted by law to receive, nosufficienf apolo gy can be urged for a long continued suspension of specie pay ments. '. Siich suspensions is producti ve of the greatr est detriment to the public! byj expel ling from circulation the precious me tals, and seriousl' hazarding the suc cess of any eflbrt that thi (?ovf!rn men . can make, to increase. commer cial acuities; arid jto advancfe ttie pub lic i iterests. : ;' :, ';J f J-,' jj- ;)': This is '.he more to ' be regretted, and he indispensable necessity for a sound; currency becomes I the! I n'bre manifest;! wlven we reflect On the jast amount of the internal cornmerce ol ine counir'. statistics nor Of i this we have no just .da t a fo r ' f t rn jn g & d - equae opinions, no doubt, hut that ljut ttiefe can 'be he amount o f trans jjui uiiuu juiHiKi iiy rauroaqs anu ca nals, and by steamboats fandllother modes ot conveyance, ovef the sur face pf our vast ri vers j and inYmense lakes, and the value of nrofeertv car ried and interchanged by these means, form a general aggregate Itoivhich the f jreign cpmrnerceiof tlik country, large a jit is,1 makes but a tlistant ap "proach. j'jj :.: " : K '..- ! In- the absence of any Controlling .'power over this subject, vhith bv lorcijig a general resupt ion of i specie pay ments would at once have (he ef fect of restoring a sound nedmn:. of exchange and would ieaie to the coun ry Init little to desire, vy hat meas ure of relief,, falling within the: limits 01 our consirtunona conpe:ency, does ; 1. it become this G o vein men t to at adopt ? It was my painfdl duty your last session, under! the weight bC moit solemn obligations, to Iii ffer with Cobrcss on. the meaesf vyliich "it proposed for my approValj jand) which it dophlless regarded as corrective of lexis'ing vrU. Snb-eq'ie it iefle;tion, and events ninre. oscurrlns;, have on ly served Uo confirm rue in the "opirr ioni - then: entertained, ard frankly exprrssedl t ' ?.. . . i .1 scheme ofj jgoverhpienul policy, tin- . aiiled I by individual exertions, can be I, avaiUHe lur amclorating the preent : condition of .thiiigV. .Qmvmerciiil 'j- . modes of ?xchange and 'a Jrood cur- 'I -T renc)'1, anrnit lhenccear meanof ' convmercl and inJereour'i: not the A direct pro iluctive source 5 of wealth. Wealth C; n only be accumuhiied by the earn in of industrv antl the sav ings of fnlgality; and nothing, ran be . more ill judged. than to loujk lo facuf-.i lies, in borrowing or to a redundant c ire u I a t i o 1 1 , fo r J h e po w er of d i s c h a r g log pecu iafy obligations Tl)e coun-- n v i!i iiuimi energy, pon tine great and permanent remedy for. present embarrassments rrjust be sought in.in luslry, tcjonomy, the observance of : good faith! and the fa vofabl inflience of time. In prirsuance of a pledge" given to you in my last message to Congress, which pleJge I ur;e as an apology for adventuriag to present - you .the de tails of an plan, the Secretary of the Treasury will be ready to submit to you, shou d you re juirc , it,a plan of finance, w lich. while it throws around, the poblie treasure reasonable guard for its projection, jaml rests! on powers acknowledged in; - practice; to exist from the origin of the .Government,' wiU, atthrsame tme, furbish to the country a sound paper .milium; and afford all reasonable facilities for res ulatingtHe Kxchsnges. ; " Vhen sub-' rcitted, you will perceive-iri it ar plan amendato y of Ibe existing Jans in relation t( the Treasury Department, subordina e in ail respects gto the will of Congess directly and the will of t h e peo p 1 e i n d i rec 1 1 y 7 sel f sust a i n t n r, shoultTit oe founc in practice to "real ize its promises ir theorv, iand repeal able at f lie pleasure ot Congress. It pioposjes by reflectualjfrestraints, and by invoking 1 he true Spirit of our instiiutiois.lo separate the-purse from the sworol; or more property lb speak, denies any other control to the Pres ident over the agents who fniay be se lected to carry it nto execution, but . , wl;al mayj be indispensably necessary , to securehe, fidelity of siich; agent; i and, ky wfe regulation, Ueep pltffn- ! ly apart frtom'eaclj other,;f rivate'and r) puonc lupds. it contemplates the establish nrnt of a Uoird of Control, at the seat of GoTernment-with agen cies at prominent commercial points, or wherev ir else Congress shall direct, for the safekeeping and disbursement of the pub ic monies, and substitu tion, at th ; option of the publip cred itor, of Treasury notes, in fjeu of gold and siver. It proposes tb limit the issues to In amount not jto exceed $ 5,000,obo-rwihout the express sanction p " the legislative ippwer. ' It also autho izes the receipt of individ: ual deposites of gold and silver to a limited arr ount, alid.the granting cer tificates of deposite, divide! into sch . sums as fn ly be called for b'y the de positor. It proceeds a step further, 1 and authoj izes the purchase an sale of j Domestic Vdls and Drafts, jesting on ! a real and substantial basis.Jpayable at sight, pr having but a sh.ort time to ; run, and-dj-aivn onj places nPt less than one hundred miles apart which au- thority, except so far as may be neccsl sary lor upvernment purppses exclu sively, is Only to be exerted upon the express condition,! that itj exercise shU riot oe nrohibited bv the State in which the agency igituatej. ; '; In ordef to coVte expenses in- ; cident to t le plan) ilrvvlll tie author ized to receive njioderate Ipremiums' for certificate is?ued on deppsites, and on bills bobgfit anjd soldartd thus, as far as its dealings extend, to furnish facilities tc commercial intej-course at the lowest possible rates, arid toVsub duct from the earnings of industty, the least possible sum. It j Uses the State lin es' at a distance! from he -agencies is auxi iaries, vythoutim: paitibg any power to trde irf its name. Itfis subiected to a'ch suard and restraints as have appeared to be necessary, and exists legislature It is the creature of law, 1.." I UL- . t . :' f . bnlyjat the pleasore of the hi. is e basi trade to fpst on an, actual spe in order o redeem the notes at the places of issue pro duces no dangerous redundancy of pircuiarton soeculalion ol pricesfis equal in its operation makci the I Treasury Notesil which it i. I'- I. - St II" 1 1 '"4 i 8
The Oxford Mercury, and District Telegraph (Oxford, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 16, 1841, edition 1
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