North Carolina Newspapers

WS ZlALEIGH, N. C. WEDNE32Al?i SUPTSrJBEIl 27, 1037 1 Ji VOL 22VIII. HO 40. .THOMAS J. LE3I.IT, TERMS. RrdtrtiFTinV Ihiee doll.r. perannum-on 1"r 7"i"i"K "wJiiiViriu si.ViTwiHUa' 7" I,li,il" there is a like eq.i red w pv,l,e ""'' smoHiit of tle yer' JihrMw!, in Iht; present pressure, that the , fbripiii Dilolvr payment of cash, duties, to the extent For evert ij-rtre (not exceeding 16 line tl.i. f one million of dollars more than U-. iiietj.pV)fiiit inTiion.niloiUrjsii:U tub- Rual, will be unavoidably deferred to irq-ipm iniertian,wMiy -fire ceoti. I another ear, as tlie importers under trr The advert hnticnla of Clerk and Sheriffs' . . ., '., , . illb.-rEtS5.ereenMgW,nd,dc.;lsslaw are entitled to cer duoiinn of 3.ii i-r cent will tm!Mie from the tiin delays, by keeping in store the regul.r prices lor anvemser. .y mc jrr, Letter lo the K titor most be post-paid. mile nonh t of Hm-UreugU, ahoot the 15th of Augut hi,t liliKijtjay matr, 7or8 years olil. She hi been badly gravelled in the right hind foot. Any information of aniJ beast will ka thankfully received, mil full compensation -larte-W alttroHWtf-anfl-frpetT!W-.---' -, v JAMES B JOHNSON. Sept 12. 1337 3S 4 T.h 5s tn fore ain all 7peron from trading .lit, me' wife MtrfT .fr.K.f.f.Von tot cretin itf lor it is mi determination not to py hei debl. - ' JOiKPn McAnv.M-S. U . Sentn. H.".7- S9 2"-l To all wIioim It mavronrern. "J. .' M 'I'heelci f IMci U)UVg.Va. having 4 ttia.-4ll9Hiwi Um.iUil-Oil-MVi4vi4 pnrchaseiF lire rwre Tmfrtw-rr-iiriHrit the firm an I title of Wm. V. Clark unit Co. WM. J- t:i.l!K. j. (j. MinKK.n:tis. Sept. 1, 1837. roie sale, 1.500 Giliov pure Cotton Serd O'l, a nirt ol Wlilrli Urn Hiem-ertlly rrfiuetl. anil prrptie'l fm- the ne of tlie Lump, unrt if pro nmniceil by tliote 'inj il, nearly 'a third iheop- tr'n better ttjii the Sperm till. Orilert from hroi irmri;illy executeil. Sp (iment nl (he nil niM li teen HI the t'oit Oliice amlN C Uook.Stre. KV M. H. CL.VRK k Co. Spt. 1.1S.TT. " SB Valuable Properly for Sale. By virt'ie ol a Heed ami agreement, entered ntn bearing dale i' 24'h day of May, 1837, brtween .lolin S. I'uwell, of the first part, and William W. .lohtnon, .f the i-cond part, will lie expnacd at pnhlie tale, on Tneiay the 2Stb -JforernVr next, -fire the Court Honae itoor in 8 aitljfif I'l, all the I' l lowing pr pertr, or to much as thiill be tafBuient to cnttKly Haiti Deed. it. flne Invt ol Land, enntuining eight hun iliil and eight ami a haif nwet, liing in thi -iuniv, on lioili tidea of Mill Creek, adjoining' the l.mdt of Col. Jwlin Kjion, Jamei Lee and others. Aln, one other trsct of land, ennUining three liundredand tweiilr-oilit and a hall acre, about J m'cUi f nil nf Siniilifirld. Alio, the followin town property, in the town f Smlthliidd, tay No. S3, whereon John S. rWrll now liven, including a large two atory Dwelling 11 0U! whlrotlier iieeenary bnildinga and gtrden, with two largi; and eortmoilioin Store I louts, together aith evel other lot ia laid town, aietire-d in aaid Deed, together with all hit hmiu-hotd and kitchin Jiirriiluie, aod lnck ol !l dctrriptionf. iermi maile k.iewn rn the ly. JOHN S. I'OWKIJ- - i-r- --; ';- -WMv"VvJOilNSNv- John,ton eonnly, Sept. 0. I&37: 3 11 w Woald reapeetl'ully inform the tiliz.nl ol the Ci y oi'ltaleigh and in ieinity, and the' adja cent anuntre, that lie intendt rarr) ing on (he Tmlarmg -Murtwit in all it Hramdiea, and he alio warrant lo Rie general aaiiilaciion to all who may please to favor him with their pat ronage. Raleigh, gept Hih. 1S3T SI tl Stato of North Carolina, Chatham County. William .. i p, Hi inn to Men it oilien, ' VI (;eorirr May & Wife tell Land. The Defendants will take noiee. that on the Imntlt 1 tmrtdayitt October, VVWamfJ. Mer rill, as Kxrrulor of Cieorge Merrill deceased, will sell.-according lo a drcrca of the Count Court ot Chatham, the whole of the es!ate of "'-the said tieorge Merrittr a.. .aredit ,:! .huh, tionihs, ami uiion the premises, where the par- Miea lo enidvueiitHMt tt ppi'ar, er ..?P!VLl',5X :,,tbMdL.pKp.er. : w. ii. ..MKftnrvT. August 3.1th, 1S3'. ST fiip. , l,.l,..i..jO!aPIifew At Angiist Term, IS.'w ol Johnston Connty Court, the subscriber ijoalifitd as Adni'r on the estate of It inly Jones, late of said county, de ceased, and hereby gii niniee to all indebted to sxid estate to make payments without delay: and thnse who have claims must present them, dulv authenticated, within the time pr.eaeribed by iaw, nr ilie Hulice a ill be plead in" bar of their recovery. . On l-'itday, tlte 89il SeptemW ne lb sul Seriner, will sell at public auction, at the late residence nl the said deceased, the stock of Horses. Hoes. Cattle. Farming Tools, Ulack- Kitchen furniture, and liers oilier tilings. A credit of six month will be given, on bonds with approved securilr, N VHl'LO. JOXKS, AdmV. A i trt H 18.i" 37 4t DISSOIX'TIO. , The enpartiierriiip, heretofore existing nnder the firm of Wm. A. William at Co. is this day dissolve J br mutual consent. WM. A. tVILLJAM3. V. I. HAYWOOD. ' R:!eigh, Slh Sept. 1837 S7 4t IVOT1CC. V The nnetoed business of (he late firm of Wm. A. William k Co. it now in the hand nf It. W. Haywood Wm. White lor Bnal aettle tnent. The remaining slot k of goods will be old at New York eon, until the gml Oct next; at which time the balance then Unsold will be tfvred at Auction, without reawse. , A erdll ot Six month will be given on turn over $50." The tork, consisting principally of till gmxla, offer greet imliieemiiit for Merchant to elcct from. 1 1'he whole stock may be pnrehated on liberal J time, at reduced value. BU.1 U-U . m .... i l l-m ItEPOKT Ji-aai rA Secretary of the Ti-eauiry e the " : Financei. . TXAl'f DEf4TXXT, Septembri, 187. 5 f Continued. t ''jiculiy in jimin the apprapn . ation$, anli on ihe time of Ti tatuiry JiOflt. : ,.''' s Some further obstacles exist in- the est confidence in respect to tho re y of discharging satisfactorily all Idemption of such note, it is probable w the lf MrViiMK. a. t a -t,v ""' wntcu nave Deen mai :ney. would reatliiy be taken at V 7 ConS,e, . j ; . :v'!pI7. mt of the public cred.tori. i The effects which may be produced ing or withholding further delays on bonds for duties, have already been explained. woollen goods WltlCll pa? SUCll duties. This circumstance, in --connection with the difficulty of collection the not, will sensibly increase the erobar-4 rassments which have been ppeciniiy pointed out, and otherwise exist in paying with promptitude and in alegal marmer, -.the large appopiiaiUms, chargeable upon thrt residue of the cur- ient jeac. Ileri'cp, after a connlerable 'deficien cy in tlie available menus became. high ly probable, it was deemed expedient lo adopt any j uliciotis and lawful mea sure to rein -dy, it, which was within the power of the Department. Ac- conlingly, tootih larj-e quantities of pu blic Inn d -wete still in m ark et un- TOTTT irntrHtrwwjaJrt e tluring lltoTearTwo'uTdT'be - er loan anticipated, in consequence, among other thing, of a construction put on the pre-emption laws, admitting a largi class' of sctilers to entries; it was supposed that Mime further tracts, in places murh desired by the new StJf'tijS, nilgtrl- pru den tly be offered.. .A few surh have been advertised; but suflicient time, after due notice, have not yet elapsed to realize my thing from them. If the fourth insta!mcn' of the depo sites with the States be deferred, and the difficulty in seasonably transfer ring it be thus removedyet, being hiffly in the custody vf banks not yaying specie, it is manifest that it cannot be immediately realized in funds" suitable rio'ml'eT't'lieTxrslTnga'p propnations. If it be not deferred, some further provision will be still more intlispensable to enable the Trea sury not only to place it with the States, but to pay all the public credi tors and nlhccrs in a satislactnry man ner, until thc.duties now due from the merchants, and the funds now in . (hp discontinued deposite banks, can be collected. It is true, thai a resort, to the States for reftimlins portions of the large sums already deposited with them, would also remain by taw? but under the limitations of the act of TTune, 1836, it would be very slow in iw operation j ami , tt rompl tetl vith , would prove entirely insufficient to an swer such an urgent occasion as the TnTsr.DuTinh-rrti wrwhtil amount niat cuul we.legaXr. ly recalled would not exceed six hun dred and fifty thousand dollars. Hence it seems expedient, either in aid or exclusion of a requisition on the States, as may be deemed most suita ble by Congress, to provide some tem- fiorary resource until enough of the ourth instalment, or . other means in the Treasury,- rafi be rendered availa ble to discbarge all the public engage ments. It need pot be a loan, or an increase of taxes of any kind; as the General Government, in respect to its finances, whatever temporary embar iaftneTrr.tha .recent . convulsions in commerce and banking may have ere 74atei(i is -jfrJi:onfvjg.anyjjiijlX!a'J9e or uespontiency. it is: neither ovtrr- whtlmed with a national debt, nor de-wtMtfrflarf.'.ptiHisarf--rs,tMW hand; but, entirely free- from thefor? mer, it is so amply supplied with the latter as to have in the Treasury over forty millions, of dollars, and eight or ten millions more in bonds, which will soon become payable. But a large portion being in deposite with the States, and the residue chiefly', in banks and the hands of merchants, uh- der-iiigkulW procuring promptly, and in a legal currency, the amounts of money which are needed, some collateral aid for short period, till a sufficiency can "be collected, appears to be judicious, if not indispensabltv It is fortunate that the energies of the country generally are not naralvz- -edT rior-ttitnrrjsTit!i clouded hv anv great physical calamities; and hence its immediate4 wants ran, without doubt, be provided for in various ways. 'One mode would be to authorise the issue of Treasury notes, receivable for all public dues, but without interest. These would differ from the drafts or checks now in use, only as the latter are given lor .immediate payment, anu drawn on persons and banks having public public" money sufficient to meet - . ,","'.,, iwiu iiui vuiiscijuriiiij, iiie iiuiucib iinuai ue eipuaeti to me trouoie anu ex pense ot presenting them at the places where payable. Still they are nearly on a par with specie. In the present deranged state of bank paper and ex changes, and in the favorable condition or the General Guvernment, by t's am : pie resources and exemption frora pe- 'r nnlarw tiahilitiaa : in,rf ilia mil. j IV. ,lVt Kv S.V t . t . . t ma) . . "a. Especially would this be likely to liap 'pcrrTpr0Vfded"they werelssued m" de nominations as low as twenty, fifty, and one hundred dollars; and not in too large quantities, but used only in anticipation ol tTTe accFulng revenue; on occasional .emergencies, and .to i limited amount. - Contrary to expectation, should the department, during the present delin quency of many of the public debtors, be exposed to suclf very large calls, & collect so little revenue, as not to be able, by both the above notes and drafts, to meet all Hs engagements in a satisfactory manner, it would he de sirable that the President should jkis- sess --eonhnseot nut4iori(y-to cause Treasury notes to be issued, bearing an interest not to exceed six per cent. hpccie could always be raised on t,hfe for tire public -eredi-tor-,-wkcft lie preferred it. But as notes bearing much interest would soon cease to be- used in circulation, fand if they shoufd not, would, as a currency-, be 'trouble.-! some in ltie computation ot interest, nnd too strongly tend to exclude spe-j cie from the country,,) it nvighfbe ad- visible not to make them receivable, at first, lor any public dues, but only' lo rasort to that measure- altcrwaru,' 'This could be e(V;cted merely for redeemin ThenTT " ' "'Tbfu7iTgInY In connection with the issue of any.cstabl shments some a ldltioial duties. Treasury notes, it is believed to be wise to make ample provision for their ernine:it; the mint, with its branch at early and final redemption, .This cpuldj New Orleans, and another which ha be accomplished by enacting, that) been contemplated, and is nvic'i nee 1 when the money on hand in the Trea- e l, at New York, for other purposes; sury.and the Mint, available for public purposes, may exceed a given amount -oj-m:rrey-4or.tnii aalfiiL!j.iiiiJ.. weil of four or five millions, it shall be the s postmasters, might all be tKrected duty of the Secretary of the Treasury ' to keep in safety, not only the public to cause these notes sccuiiugjiiioiity I mancy collected by them, but all actu to any on interest to be reilBemed tolTy piacedTn such an extent as the surplus may ex-'. IVr or otherwise. As fiscal agents, they cecd that sum, and what will probably might also be required to pay over and be needed to defray current expenses. , It beins believed that a reduction of the taritV, and suitable renulalions con-' ce the sales of public land, ought -.er lime to be put in force, so' at a proi as to prevent any large and regular ac-'of cumulation in the Treasurv. the de partment would respectfully propose 'of, the postmasters, is, perhaps, already that, in case of any unexpected excess sufficiently broad for that class of ofii beyoml the sums above specified, it'ceis. At points like New York, and should merely be invested, in a fempo-ja few others, where a likelihood exist rary manner, in safe State stocks, at, ed that the sums would permanently their market rate, ..subject. .to.be :.soTd )be large, but which, under a "reduced acain whenever the proceeds shall be levciTue nnd expemlTtffrcfrwould nr-l- wanted to discharge existing appropri-jdom aiions. j i" appuuil tne c ctns now ntuug u An additional consideration in favor cashiers or teijers under the collectors of these measures is, that since, the ) and receivers, Or other more suitable payment of tit J public debt, which ab-) persons, to act as keepers and paymas sorbed r.ny occasional surplus of rc- ters of the public money.: But they ceipts,- it is impossible, rac cording to', should br mads ind('pmdent "f'f the the views expressed in some previous collectors and receivers, and placed reports from the undersigned, that, ! under the like tenure of 'office, and un w-rthtmrceyTjfcTenTC-so flinttr 83ourjAand so dependent tin commer-"of tl.U j WSJiei IIJ i UllJ llSkiil UIJt'1 .UIUII3 irati!ni iiuul!l ,nj jr.. ,,vL,V.Vr., " should be long continued with ease, 'officers, might be provided, , as tlie ThV vigor, and uniformity, without some creased risk and labor might render such regulator as a power to issue and jus'i but in only a few cases would redeem Treasury notes, or to invest ,'hese last be much augmented at any and sell the investment of surpluses, place. By any other course we shall constant-1 Taking the year 1834 as furnishing ly be exposed to great deficiencies, or a specimen aufliciently large of the escessesi with all their attendant em- ip'obable busin; m barrassments. If depositing the ex 'with the general operations of the Trea cesses with the States, subject to be ,"y Department,, but, of" course, not recalled to supply deficiences, the pe ! including the separate establishment of cuniary profit to the whole union willed no greater, while such a course may inMlyf.M.iri.a.scm..i vexatious de-MI inanilson them, accompanied by vari- ous dancers, both to them and the ?en- "'--..".., V - rj L a: B:. : r i . .... . time, it is feared will, in many instan- cs,:ieudto,c.xcUa,xce4S.aadc!v siuuIaroome-ofiJho'ie uniler which the country is now stifTeiing f. Utt tne snfe-keepmg of the I'u'jfic Money hereafter. The arrangements fur keeping the public money, which had been in suc cessful operation Jiir a few Tears previ ous to the passage of the deposite act of 1856, became partially embarrassed the business would be visions. Hut the enlorccment ot them all, where not entirely perfected, was in sessonahle nrocress in Jwav last. when the department was compelled by the act to give notice to such of the selected banks as had suspended spe cie payments that they could no longer be considered as general depositories of the public moneys. A hst is annexed of all be I ore em ployed in that capaci'y, which have been discontinued. After due inanities to procure other depositories, in conformity to the act, the Department has completed the ap pointment ofonly one- This, and four more that have not suspended, with one that has resumed specie payments, imaKing six in an, constitute the pre sent bank depositories for general pur poses. During the inability to obtain specie paying banks at other points, the Trea surer, being required by the closing Eart of , the 8th section of the act, to eep and disburse the public money according to the laws before in force, has done it in conformity to the, very wide discretion which existed when no rules were in force, that had been prescribed by' Congress, except to "keep",, and disburse the tame" un der the general superintendence of the Secretary of the Treasury. A part of T it lias, therefore, been tept -in special deposite irTthis city, a portion oflrlhHIirougtiOfltthe'tJhrtcd'States Wed noTTltTlie eatorCToverDmeht TiirtlVe Tor the mint, and the residue with theoffi-j be at all increased. Nor will it be- mer mode, the. system now proposed, cera collecting it, until it was wanted cosne:necessary, except in a few cases, ' and especially the first one, would op fur public purposes, or until it avCuinu- to augment their compensation. Twen- j erate so as to disburse at each point raledTii : sujcti surtirat Any piunt as not to be, tirobably, wanted there for such use. in me ursi cac, h iia. irom time to time, been applied to the pay-j meiu oi creuuors, oy tirans on me re ceivers or collectors; and in the lat, the excess has been directed to bi tem porarily placed with banks not remote ly situated, and in special deposite fur s'afety, until wanted' f.r expenditure elsewhere, or uiitil soine new ' legist .V tioi shall take placeTif relafloii to if. Under these circumstances, the tie partmant would respectfuTlT suggest some provisions which nr.y bi more specific, and., may bu required fur the taA-keepiggaw4 Iisbrstfg wf the pnb lie moneys. ' j In th present condition of the gov ernmant and the country, two system are proposed, either of which,, it is ba neveii, nny e practicable an i a ie- quale to the exigencies of the crisis, One isan enlargement anil aiiSptStion of the 'system, partiaUvjaapjayjtjuiaL ths suHp-nmn of specie payments, so as to maKC it answer nil necessary pur , The Treasurer, at the seat of Gbv collectors of the customs, and receivers transfer it for such public purposes as may ba authorised by Conzress, and under such rej-ulations as the Treasu- rjr Dspa'rtment from time . to time mjy prescribe. ""Indeed, T the fluid section the post office law of 1825, with the Ibond taken under it as to the aseney occur, authority might be given Safety, and such additional but tvm- the post office, Ihe whole number of warrants issueti in mat year was a lit; under five thousand, and, though, differing much in actual amount, ave-! 'rns'inz about 5,000 dollars each. This . ' a a a a . .1... .-.I t...n. ..,..(. I -ri.r!r-M:r.r;-"iHv'i-xis-i.-..-j., ... day, and hence would require less Wan twenty-six states, lhcv .tliflerVtl, in fact, from four, per tlayTn fiis DTstrictT arid two per day in New York, which were the highest numbers, to only one per week in several of the S fates. The jbusiness at each office daily, or even weekly: in making , payments of the drafts, would, therefore, be very lit tle. If more than one draft issued increased tn that proportion, unless the whole payments were reduced, as is probable, hereafter, to sixteen or sev enteen millions yearly. In regard to the risk, five millions in the Treasury at any one time, if all placed in the hands of collectors and receivers, would not, on an average, exceed SO, 000 dollars with each of the present number. But if the amount, besides one mil lion in the Mint, was chief! r in the hands of half the present number, which would approach nearer to the probable result, the sum with' cttch would still be less than most of the ex isting bonds of receivers! and whenl exceeding theirs, 'or those of the prin cipal collectors, tho excess, in most cases, could bo readily prevented, or reduced, by being drawn out to pay creditors, or ba conveniently transfer red to the Treasurer of the U. States, at the seat of government, or to the Mint and its branches. Until one of the latter is authorised at New York, the substitute before mentioned, of one of the present officers in the customs there as an independent keeper and paymaster of the public money, could be adopted, and, if deemed prudent, be extended to any other similar place. In this mode, the present number of officers connected with the. collection and disbursement of the revenue ty-or rivfrtf rthousanuV' dollars a? ' would probably cover tlie whole addi- ' near, and would thus enable the Trea-tionar-eipense of every kindvt'';; T 8i,Tjr- tff command its resource with ,Tke other system to which the attcn-1 less 'delay the money not being previ- -tion and consideration of Congress arejously paid over at some distances and respectfully invited, is a new organiza-j to a fepiaratA set of agents, as has nsu tion, by'means of commissioners or re jally been the practice here in the usa . ceiver general, to gather, the collec- jnf banks; nor much of it transported ttons to more central points, and keep inconveniently to the capital, as liaa'u , and disburse there a" large portion of, sustfy been the practice elsewhere. ", the pabtie moneylor. sush 8 , be kept afelyand. expendetl conveni-' the greatest excellencies in any fiscal en tly in the hands of the collecting of- system; which Is, to pay over quickest ficrs. Such tin organization might be 'to the jublic creditor, and with-the;, at only three nr four' of the most im- least official complexity, whatever is r portant points; or it roiht be made collected from the public debtor. " " morer extensive, and tha number on- arged to eight or. ten. This could bo . arrange!, in nil essent ai particulars, substantially in the manner which Is"! - now in very successful practice la some of the niost etitightened and opu- leftt covernmeMs of Europe, ami as was urgently recommended by this tie-1 parLmjtivtaseaily s r4ilytefi8t-e material differchce need be;, to payTiiit"ttoans and the" ffse of surpluses, antl -more of the money near the places j thus co-operating to prevent a redue - whqre it is collected, rather than first j government. This organization of fis ifal agents would bo advantageous as a : separate establishment for, this busi- nes aion", and as an independent. sgents. hxecntive control would be : check on most of those collecting thedimip.5shed rathar than increased by revenue. But it would require some them, brausc any additional officera addition to the present number of offi-; will be selected, not by the President cers, and in the first instance would alone, nor the Treasury Department, . mbreTncreas v-Ijkjj the..wlole atld.itlon of principal , designated by Confess, and the prin olficers nceti not exceed ten'. m Nor c jpajT incumbents appointed by the con wouTiT the Increased annual expense totsenl of theSenatir the Government probably amount to remove all zround for the objection over nlty or sixty thousand dollars, as the system would enable both the War and Navy Departments to dispense with several of their agents for making local dib'ursemeri.til. XlvftJngcr.:,t any der losses will be nearly the same un both plans. It is impossible to conduct the affairs-of govcrnmfrnt or the ordinary transactions of society, without trust" and risk of some kind. But one great o'yect, wherever pecuni ary confidence is reposed, should al ways be to require the best safeguards which appear reasonable; and in either nf these system, a hereafter explain! ett, rtnc amount trusted' can oe more ea sily kbpt from becoming excessive, rind the hazard of losses, alfecting the de posite agent by his lending or trading, be fully obviated, by the strict prohib ition of both the latter, under severe penalties." " ... Our direct losses from eiihcr collecf ing or deposite agents have always been comparative' y Tituse-UsL the former, it is Wlieved, have not c- quallcd those by the latter, though the fat f er," ueing" " t)n1cshave-ii snail vin the end paid m.ist of their dcposltes. The losses by the former are also sup posed not to have exceeded one-fifih of those on the bonds of merchants for duties; 'an'tT probably riof 6tje-elghth of those from the purchasers of public lands; pnder the credit gy8fCp - -- Occasional and strict examinations of the money on hand, where large in amount would. furnish a strong safe guard beyond the character of the olfi-: cer, and the property ot lumsell and sureties, and which it might p'-: ded should be made by a committee of Congress, or in anv otner mode deem- tulat'theck.--"-" ed as to fiscal agents, are suggested Tor consideration, under a belief that either is appropriate in the present pos ture of affairs; that they require but slight changes in our existing laws or usages; and, whafever objections'can be adduced against them, will, at the same time, be found to possess many signal adxantaces. . Tii.eyilljB.ats.io.rniicJi as.samc.oth er modes of keeping the public money, expose the treasury to disappointments and delays, through a dangerous part nership ot interest, or the use ot that money tor private or corporate purpo ses. As tne vicissitudes of trade or speculation affect the persons who bor row from the public banking deposito ries, the evil'consequences must some times inevitably reach and embarrass the Treasury itself. Nor, on the oth er "hand,, will these modes, tike our former one, cause frequent injury to those who, trading on the revenue ol the Government, are subject to be most pressed to refund it, when least able. It is believed, likewise, that the funds of the Treasury Can be always more readily commanded in a legal currency, and the hopes of its creditors not defeated, nor it faith violated so often, if the money is not loaned cut, either in full or in part, but, as in oth er countries, is retained m specie or its equivalent,' and in the actual custo dy of officers exclusively fiscal. In other countries, the public money is believed lo oe seuiom, it ever, charge able to the Treasurer, till it is either paid oe r . on some draft, so that he can get credit for the payment, (and which mode is practised somewhat in Eng land, as well as here, and extensively in f iance,"! or . lodgedj.not.in...l?poBile in any bank, but la his own pnsssssion r" Bestdcr these " advantages, otberl . would b, that the money in the Trea- -.. sury, under, oolh ot the plans suuinit ted,7 can always be more easily kept down 16 irtfide Uuctions in the revenue, and by tempo fay investments of an occasional sun . plus.' as there will be no antagonist in- , tion TheTtsttrfg ?staWiltveflf and -Vsu; heers, whenever convenient, would be employed without a double machinery . or the-orgahization of a new system of sometimes urged against the formei system, that the Executive alone exer els 's an extensive patronage and great moneyed influence through a host of holders, scattered through every sec tion of the country, and selected with out the assent or check of either louse of Congress in any particular case, and ., making loans of the public money from , considerations merely political or oTif cial. A very wide 'discretion will be thus restricted, and a prolific star, of suspicion an I imputation of Tavorit 4m and rality tie entirely stopped. - - i ne oiurers, unticr me plans propo. sjdj, will Mkewise be amenable exclu.' sively to the GeneratGovcrrtment, and not be emDarrassed, like the oincers! the banks, by conflicting dut'es and in teres! s in respect to the grates nor in-. , volved In those collisions," Jealousies," and recriminations, often attendant on that position. l ue -independent and harmonious action of each Government in Us ap fropriate sphere will, thus be more fjl . y -secured r Thelwal nstituttonsB -'"3-, a general principle, will be left lo the care and uses of the several State which established them, without inter ference on the part of the General Gov. c hmerif; and to be regulated or dii. continued, as deemed most useful, un tier their own State 6TTcIr an'f irott conducive tit the original purposes of their creation. Nor would any gene ral moneyed corporation, aside from' the grave doubts which exist as to botV ' its constitutionality and general expe- tiiency. naye ueen.iiit.eiy , in auciv a r.vj sis as that of the war of 1812, or'-per fnaps that". 'of ..the Kprtftf ,Jt navoj woved a fneeh sa?er-i)ubWe 4han-t)ashn:aljtitUuUon ,t .. poses than they, and free from-some objections as to want of symmefry and accountability J ; which obtain against' them, yet, ir chartered on usual prin. ciple, and judging from experience here as well as abroad, it must have failed, in a trial likt) those, to have suit tained either our pecuniary operations, or its own, in strict gwd faith and it d.uey!jor. Without enterin? into details toil . lustrate this position, it is necessary to -, notice only ihe single etrcumstance. that the Bank of England, daring a se , yere war, , suspended spesie payments . near a quarter of a eentury, and that neither ot ;the ; two s United ; States ' Banks existed so as to tit obliged to en- .,' countec such a peril. Hut since the . last spring, the cotes of the second- one, to the amountof severs! inillions, ; have been allowed to sink into the ; mass of irredeemable and depreciated paper, though issued under all tlie high ; securities antl sanctions of. a .charter from the General Government, and with very large funds, Still under the control or officers and trustees deemed -by the stockholders exceedingly? skJLr ful, and bound by both law and con tract to redeem those notes in specie, and on demand. - The systems which have been proV pol In this report, if adopted, eould not be expected to rcntinue entirely exempt from losses by that Onfaithfuf- ness or casualty to wine1! an trusts in human affairs are exposed.,' But they may be surrounded with Strong safe guards, and would very probublv soop be enabled to answer in a satisfactory manner every purpose of , the Govrra tnent, in its condition so different iov .maoy respects from that which forme.