" ... "1. "
'-s.
RALEIGH, N. C. WEDNESDAY, DECEMBER 12, 1S3S.
XXIX.
P 0 E lir" Fg0FK!gT0 "
IssscairrU. ih,. dollar. per-m-OM
miK ADVERTISING. :
JJ )Th.ir.H-., se.Uoa.h .
'jJJirt ioth EJiw nt b po.t-p.Md..
.. llBSiTOB ACS '
Ar. President of lh United Bute. 10 III
JJS, of Congr.-, December 3, 1838.
Mow CHi,un$ of tht Senate
and Jloitttoj -Reprettntatwtt.
, congratulate you on the favor
able circumstances in the condition or
Mr country', under wMcIljou reassem.
ble for the performance of your official
duties. Though the anticipations of
an abundant harvest have not every
l... i...n ro.l'i-rpfL vet. on the whole.
tht labors or the husbamhnan are re
turded with a boatful return; indus
try prosper it fl various channels of
baVmrss irnJ'f ntcrprisej general health
iiin prevails through our vast diversi
ty trf climate" nothing threatens, from
abroad, the continuance of external
peace nor has any thing at home im
pired the strength of those fraternal
iml domestic ties which constitute the
only guaranty to the success and per
jMtwnef of our happy Unioa, and
which, formed in the hour of. peril,
hive hitherto been honorably sustained
through every vicissitude in our nation
al affairs. These b1essing,which evince
the care and beneficence of Providence,
call for our devout and fervent grati
tude. -
, We have not less reason to be grate
ful for other bounties bestowed by the
lime munificent hand, and more ex
cluuvely our own. .
The present year-close the first
half century of our federal institutions
and our sytem differing from all oth
ers in the acknowledged, practical, and
anlimitcd operation which it haa for so
longneniid given to the sovereignty
f Unpeople has now been fully
tested by experience.
The constitution devised by our
fbrefnthers at4h frame-work and bond
f that system, then untried, has be
come a settled form ol government
wtenly preserving and protecting the
jrwt principle upon wuich it was
founded, but wonderfully promoting
individnal happiness and private inter
n's. Though subject to change and
entire revocation, whenever deemed in
itlequaie to all. these purposes, yet
ch it the wisdti'm of 'its eoiistruethm,
md so stnple haHeen the public sen
timent, thatat remains-unaltered, ex
cept in matters of detail., comparative
ly unimportant. It has proved amply
sufficient for the varioua emergencies
incident to ou? condition as a nation.
A formidable foreign war rigitating
colliiions between domestic "and, in
some respects rival sovereignties temp
tations to interfere jn the intestine
commotions of neighboring countries
the dangerous influences tnai arise in
penoda of excessive prosperity .nd
the anti-republican tendencies- of asso
ciated wealth these, with other trials
not less formidable, have all been en
countered, and thus far successfully
resisted.
It was reserve4 for the American U
niontotest the advantages of a gnv
ejirment entirely dependent on the
continual exercise of the popular will
and our experience has shown that it
iia beneficent in practice as it is just
in theory. Each auccensive -change
ma'le in our local institutions has con
tributed to extend the right of suffrage,
has increased the direct influence of
'lie mass of the community, given
Filer freedom to individual exertion,
sod restricted, more and ' more the
Prs of government yet the intelli
pnee, prudence, and patriotism of the
people have kept pace with -this aug
wnted responsibility. In no country
'duration been so widely diffused.
Domestic prace has nowhere so largely
signed. The close bonds of social
intercourse have in no instance pre
vailed wuh such harmony over a space
at. All forms or religien have
ilrd, for the first timer to diffuse
r.hfity and piety, because, for the first
in the history of nations, all have
J" totally untrammelled, and abso
'"'elylree. The deepest recesses of
,ne wilderness have been penetrated
.Tet. instead of the rudeness in the so
condition consequent upon such
'eiiturea elsewhere, numerous com
'"uties have sprung up, already unri
""'ed jn prosperity, general intelli
Jenc. internal tranquillity. & the wis-
"'"O 8f their nnliiiral irt&tit 11 tinna. ntrr.
Bl improvement, the Truit of individual
'"'erprise, fostered bv the protection of
States, haa added' new links to the
cfnredertion, and freh rewards to pro
'lent industry. Doubtful questions of
T?',,lc H'CJ have been quietly set
"d ly mutual forbearance arid agri-
Jore-.-comtnerce and manufactures.
f'JMster to each otherT" Taxation and
C !f dcbf lhe buroens which benr so
piV'-T Vn au Mher countries, have
- with comparative lightness up-
on us. Without one entangling alli
ance, our friendship is prised bv everv
naiiun; anu ins rignis oi our citixensi
I .1 . I . . ' ... -1
are evert where respected, because
they are kiwwi-te--brguanled by a u
nited, sensitive, and watchful people.
To this practical operation of our
institutions, so evident and successful.
we owe that increased attachment to
them which is among; the most cheering
exhibitions of popular sentiment, and
will prove their best security; in tioej
io come, againsi foreign or Uomestic
assault.
Thia review of the results ot ourin-
stitutions, for half a century, without
exciting a spirit of vain exultation,
should serve to impress upon us the
great principles from whicfljhey have
fang) constant and cirect supervi
sion by the people over every public
measure; strict forbearance on the part
of the Government from exercising any
doubtful or dioputed powers and a
cautious abstinence from, all interfer
ence with concerns which properly be?
long, and are best left to state regula
tions and individual enterprise. '
run information ol the atate bl our
foreign affairs having been recentlv, on
different occasions, submitted to Con
gress, I deem it necessary now to bring
to your notice only such events as have
subsequently occurred,: or are of such!
importance as to require particular at
tention. The most amicable dispositions con
tinue to be exhibited by all the nations
with whom the Government anil citi
zens of the United States have an ha
bitual intercourse. At the date of my
last annual message; Mexico was the
only nation which could not be includ
ed in so gratifying a reference to our
foreign relations.
I -am happy to be now able to inform
you that an advance has been made to
wards the adjustment of our difficul
ties with that Republic, and the resto
ration of the customary good feeling
between the two nations. Thia. im
portant' change has been effected by
conciliatory negotiations, that have re
sulted in theconclusien of a treaty be
tween the two Governments, which,
when ratified, will refer to the arbitra
ment of a friendly jiower all the sub
jects of controversy- between us thaw
ing out of injuries to individuals.
There is at present, also, reason to be
-lieve That an equitable settlement of
all disputed pouits will be attained
without further difficulty or unnecema
ry delay, and thus authorize the free
resumption of diplomatic intercourse
with our sister Kepubiic.
With respect to the northeastern
boundary of the United States, no of
ficial correspondence between thisGo-
vreftmetit and that of Great Britain
has passed since that communicated to
Congress towards the close of their last
session. The offer to' negotiate a con
vention for the appointment of a joint
commission of surrey and explora
tion, I am, however, assured will be
met by Her Majesty's Government in
a conciliatory and friendly spirit, and
instructions to enable the British Min
ister here to conclude such an arrange
ment will be transmitted to him with
out needless delay. It is hoped and
expected that these instructions will
be of a liberal character, and that this
negotiation, if successful, will prove to
be an important step towards the satis
factory and finaJL adjustment of the
controversy,
1 had hoped that the respect lor the
laws and regard for the peace and hbn-
or or their own country, which has ev
er characterized the citizens or the U
nited States, would have prevented any
portion or them from using any means
to promote insurrection in the territory
of a power with which we are at peace,
and with which the United States are
desirous or maintaining the most friend
ly relations. I regret deeply, . howev
er, to be obliged to inform you that this
has not been the case. Information
has been given 'to me, derived from of
ficial and other sources, that many cit
izens of the United States have asso
ciated together to make hostile incur
sions from our territory into Canada,
and to aid and abet insurrection there,
in violation of the obligations and laws
of the United States, and in open dis
regard of their own duties as citizens.
This information has been in part confirmed,-by
a hostile invpion actually
made by citizens of the United States,
in conjunction with Canadians and oth
ers, and accompanied by a forcible
seizure of the property of our citizens,
and an application thereof to the pro
secution of military operations against
the authorities and people of Canada.
The results of these criminal as
saults upon the peace and order of a
neighboring country have been as was
to be expected, fatally destructive to
the misguided or deluded persons en
gaged in them, and highly injurious to
those in whose behalf they are profess
ed to have been undertaken. The au
thorities in Canada, from intelligence
received of such intended movements
among our citizens, have felt them
selves obliged to take precautionary
measures against them have actually
embodied the militia', and assumed art
attitude lo repel the invasion to which
they believed the Colonies were expos
ed from the United States. A state of
feeling on both sides of the' frontier has
thus been produced, which called for purpose of fishing and trading with the for the past year, wilt be made to you
prompt and vigorpfcs interference. If natives ol the country. " The reasons by the Secretary of theTreasury.
an insnrrection existed in Canada, the assigned for declining to renew the , Tne available balance in the Treasu
amicable dispositions of the Uuifed provisions of thisarticle, are, briefly, ry, on the 1st f January 'next, is esti
States towards Great Britain, as well that the only use made by our citizens mated at 89,765,342. The receipta
as their duty to themselves, would lead, of the privilege it secures to them, has of the year, from customs and lands,
them to maintain a strict neutrality,: been to supply the Indians with spirit- will probably amount to 80,615,598.
and to restrain their citizens from all uoas liquor,, ammunition, and lire- These usual sources of revenue have
violations of the laws which have been ;
passed for its enforcement
But this!
uuycrqincni recognizes a wi Higher
obligation to repress all attempts on the
part of its citizens to disturb the peace
of a country where order prevails, or
lias been re-establiuhed. Depredations
by our citizens upon nations at peace
with the United States, or combinations
for committing them, have at all times
.u
tieen regarded by the American Gov
ernment and people with the greatest
abhorrence. Military Incursions by
our citizens into countries so situated,
and the commission of acts of violence
on the in embers thereof, in order to ef
fect a change in its government, or un
der any pretext whatever", have, from
the commencement of bur Government,
been held equally criminal on the part
of .those engaged in them, and as much
deserving of punishment, as would be
the disturbance or the public puce by
the perpetration of similar acts within
our own territory. j
Br no country or persons have these
invaluable principles of international
taw principles, the strict observance
of which is so indispensable to the pre
servation of social order in the world
been more earnestly -cherished or, sa
credly respected than by those great
and gJ)od Irt'ert who first declared, and
finally established, the independence
of ourown country. They promul
gated and maintained them at an early
and critical periol In our history they
were subsequently embodied in legisla
tive enactments of a highly penal char
acter, the faithful enforcement or which
has hitherto been, and will, I trust, al
ways contiuue to be regarded as a du
ty inseparably associated with the main-
tenance.of our national honor. lhat
the people or the United States should
reel an interest in the spread or politi
cal institutions as free as they regard
their own to be. Is natural nor can a
sincere solicitude for the success ofj
an muse wno are, i any lime, iu gouu
faith struggling for their acquisition,
be imputed to our citizens as a crime.
With .the entire freedom of opinion,
and an undisguised expression thereof,
n their part, the Government has nei
ther the right, nor I trust, the disposi
tion to interfere. But whether the in
terest or the honor or the United States
require, that they should be made 1
party to any such struggle, and, by in
vi table consequence, to the war which
is waged in .its support, is a question
which, by our constitution, is wisely
left to Congress alone to decide. It
is, by the law's, already made criminal
in our citizens to embarrass or antici
pate1 that' decision, by unauthorized
military operations on their part, or
fences or this character, in addition to
their criminality as violations of the
laws of our country, have a direct ten
dency to draw down upon our own cit
izens at large the multiplied evils of a
foreign war, and expose to injurious
imputations the good faith and honor
or the country. As such they deserve
to be put down with promptitude and
decision. I cannot be mistaken, I am
confident, in counting on the cordial
and general concurrence of our fellow-
citizens in this sentiment. A copy or
Ttlie proclamation which, I have felt it
my duty to issue, is herewith commu
nicated. I cannot but hope that the
good sense and patriotism, the regard
for the honor and reputation of their
country; the, respect for the laws which
they have themselve enacted .for their
own government, and the love of order
for which the mass of our people have
been so lonz and ao justly distinguish
ed, will deter the comparatively few
who are engaged in them from a lur
ther prosecution. of such desperate en
terprises. In the mean time, the ex
isting laws have been, and will contin
ue to be, faithfully executed and eve
ry effort will be made to carry them out
in their full extent. Whether they are
sufficient or not, to meet the actual
state of things on .the Canadian fron-.
tier, it te for Congress , to decide.
It will appear from the correspond
ence herewith submitted, that the Gov
ernment of Russia declines a renewal
or the fourtVarticle of the Convention
or April, 1824, between the. United
States and His Imperial Majesty, by
the third article of which it is agreed
that 'hereaftef there shall notDTform
ed by the citizens of the United Stales,
or under the authority -ot the saiu
States, any establishment upon the
northwest coast or America, nor in any
or the islands adjacent, to the north of
50" 40 01 north latitude ana mat in
the same manner there shall be none
formed by Russian aubjects, or under
the authority of Russia, south of the
same parallel" and by the fourth arti
cle, "that during a terni of ten years,
counting from the signature of the pre;
sent convention, the ships of both pow
ers.t.or which belong to their citizens,
or subjects, respectively, may recipro
cally frequent, without any hindrance
whatever, the interior seas, gu'fs har
bors, and creeks upon the coast men
tioned in the preceding article, for the
arms that this traffic has been exclud-
ed from the Russian trade: and as the
supplies lurnisheu irom - the U. States
are injurious to the Russian establish-
.a nS it.. i . " . . i i i
ments on Jhe northwest coast, and cat-
calateti to produce complaints between
the two Governments, his' Imperial
Majesty thinks it for the Interest of
both countries not to accede to the pro-
pisiuunmaueoyine American uovern-January
went for the renewal or the article last
referred to. v
The cerrespondente herewith com-
municated will show the grounds upon
which we contend tnai the citizens t treasury notes, constitutes an aggre
the United States have, independent of gate or about forty million of dollars,
the provisions of the convention of and will still leave in the.Treisury the
1824, a right lo trade with the natives balance before staled.
u 0 1 the coast jin question, at uneccupi-
en places, liable however, it is admit t-j
ed,to be at any timeextingui.hed by the
- f 1 . 1 - 1 r - .
trcauun ut nuaaian esiauiisnmenis ai
such points, litis right is denied by
tne Kussianuovernment, which asserts
that, by the operation of the treaty of,
,0.-,. i ::". 1
1 os.1, cacii party agreeu 10 waive me
general right to land on the vacant
coasts' on the respective side or the
degree or latitude referred to, and ac
cepted in lieu thereof, the mutual priv
ileges mentioned in the fourth article.
lhe cspital and tonnage employed by
our citizens in their trade with , the
northwest coast or America, will, per
haps, on adverting to the official state
ments or the commerce and navigation
or the United States Tor the last few
years, be deemed too inconsiderable in
amount to attract much attention yet
the subject may, in other respects', de
serve the careful consideration of Con
gress. v f
1 regret to state that the blockade ol
the principal ports on the eastern coast
of Mexico, which, in consequence of
differences between that Republic and
France, was; instituted in May last,
unfortunately still continues enforced
by a competent French naval force,
and is necessarily embarrassing to our
own trade in the. gulf, in common with
that of other nations."; Every disposi
tion, however, is believed to exist on
tht part of the French Government, to
render this measure as little onerous
as practAW , to the interests of the
citizens of the United States, and to
those of neutral commerce; and it is
to be hoped that an early settlement or
the difficulties between France and
Mexico, will soon re-establish the har
monious relations formerly subsisting
between them, and again open the
ports of that Republic to the vessels of
all friendly nations.
A convention for marking that part
of the boundary between the United
States and the Republic of Texas,
which extends from the mouth of the
Sabine to the Red river, was conclud
ed and signed at this city on the 25th
of April last. It has since been rati
fied by both Governments and season
able measures will be taken to carry it
into effect on .the part ol the United
States. ". -f- ...
The application of that republic for
admission into this Union, made in Au
gust," 1837. and which was declined
for reasons already made known to
you, has been formally withdrawn, at
will appear from the accompanying
copy of the note of the Minister Plen
ipotentiary of Texas, which was pre
sented to the Secretary or State on
the occasion ol the exchange ol the rat
ificationsof the convention above men- cient as its powers and meant permitted,
tioned. ' Uy withholding from the States the de
Copies or the convention with Tex- posite or the fourth instalment, and
as, of a commercial treaty concluded leaving several millions at long credits
with the Kingot Greece, and of a aim-
ilar treaty with the Peru-Bolivian Con-
federation, the ratifications or which
have been recently exchanged, accom-
nany this message for the information
or Congress, and-for audi legislative
enactments as may be found necesary duties to the amount of between four
or expedient, in relation to either of and five millions of dollars by an is
them. Isue of Treasury notes at a means to
To watch over and Toster the inter-
ests of a gradually increasing and wide-
ly extended commerce to g'iaid the
rights of American citizens, whom bu- .
siness, or pleasure, or other motives
may tempt into distant climes, and at
the same time to cultivate those serUi-
ments of mutual respect and good will '
which experience has proved so benefi-
cial in international intercourse, the
Government of the United States has
deemea it expeaieui, irom time o ume, iion oi me community, we nave wii
to establish diplomatic connections with nessed an early resumption of specie
different foreign States, by the appoint- payments in our great commercial cap
meat of representatives to reside with- ital. promptly followed in almost everv
in their respective territories. Iamgrat-
ified to be enabled to announce to you
tnai, Since tne ciose 01 jour mi ki- icrcaia ui gucuuure, commerce, ana
sion, these relations have been opened manufactures to public morals," respect
under the happiest auspices with Aus- for the laws, and that-confidence be
tria and the Two Sicilies; that new tween man and man which issocsseii
nominations have been made in the res- tial in all our social relations. -
pectiye missions of Russia, Brazil, ' The contrast between the suspension
Befgium, and Sweden and Norway, in or 18 14-and, that or 1837 is moststii
this country and that a Minister Ex- king. The short duration of the latter;
traordinarv has been received, accred- the prompt restoration or business the
ited to this Government from the Ar- evident benefits resulting from an ad
gentine Confederation. herence by the Government to the con-
An exposition of the fiscal affairs of stitutional standard of value, instead el
he Government, and of their condition sanctioning the suspension by ..the re
been iucrei
creased bv an issue of Treasurv
nttex of which less than eicrht millions
of dollars, including interest and prin
cipal will be outstanding-at the end of
Ml i . i .i a
the yeaTv and by the sale of one of the
bond of the Hunk of the U. States,
for $2,254,871. The aggregate of
means from these and other sources.
with the balance on hand on . the 1st of
last, has oeen applied to tne
payment of appropriations by Congress,
The whole expenditure for the year ou
their account, including the red chid -
tion of more than eight, millions of
Nearly eight 'millions of dollars ol
treasury notes are to be paid during
the coming year, in addition to the or
dinary appropriations for the oupporf
of Government. For both these pur
poses, the resources, ot the 1 reasury
will undoubtedly b sufficient, if the
cnarses upon 11 are 1101 incrraseu oe
- i . .. 1 .
yond the annual estimates. No excess.
however, is likely to exist nor can the
postponed instalment or the surplus
revenue be deposited with the Sutes,
nor any considerable appropriations be.
yond the estimates be nude, without
causing a deficiency in" the Treasury,
The great rcaution'i" " ad Uable at- all
times, or limiting appropriations to the
wants of the public service, is render
ed necessary at present by the prospec
tive and rapid reduction of the tariff;
while the vigilant jealousy, evidently
excited amonzthe people bv the occur
rences ot the last few years, assures us
us that they expect from their repre
sentatives, and will sustain them in the
exercise or the most rigid economy.
Much can be enected by postponing ap-
firoprialions not immediately required
or the ordinary public service, or Tor
any piessing emergency and much by
reducing the expenditures; where the
entire and immediate accomplishment
of the objects in view . is not indispen
sable. .. .- ''"'"' ,
When we call to mind the recent and
extreme embarrassment produced by
excessive issues ot bank paper, aggra
vated by the unforeseen withdrawal or
much foreign capital, and the inevitable
derangement arisintr. front the distribu
tion of the surplus revenue among the
states, as required oj congress; and
consiuer tne neavy expenses incurred
by the removal bfndian tribes by the
military, operations in norma and on
account or the unusually large appropri
ations made at the last two annual ses
sions or Congress Tor other objects we
have striking evidence, in the present
efficient state or our finances, of the a-
bundant resources of the country to
fulfil all its .hHliirsf Iitna 1KI. - lu.
gratifying to find that the general busi
ness or the community, deeply affected
as it has been, is reviving with addition
al vigor, chastened by the lessons of the
fiast, and animated by the hopes of the
oture. By the curtailment of paper
issues by curbing the sanguine and ad
venturous spirit of speculation) and by
the honorable application of alt availa
ble means to the fulfilment of obliga
tions.'confidence has been restored both
at home and abroad, and ease and facil
ity secured to all the operations or
trade. .
The agency of the Government in
producing these results has been aseffi-
with the banks, principally in one tac-
tion of the country, and more tramedi-
ately beneficial lo it and, at the same
time, aiding the banks and commercial
communities in other sections, bv
postponing the payment of bonds for
j enable the Government to meet the
consequences (r their indulgences, but
'affording, at the same time, facilities
Tor remittance and exchange and by
steadily declining to employ as general
depositories of the public revenues, or
receive the notes, or all banks which
refused to redeem them with specie: by
these measures, aided by the favorable
action of soma of the banks, and by the
support and co-operation of a large pqrj
part of the United States. This result
has been alike salutary to the true in-
ceipt of irredeemable paper: and the
advantages derived Irom the Urge .
mount ol sperTa' introduced )ntu the
country previstus to 1837, afford
valuable illustration af the true policy-
can the comnarison fail lo remov thm" ? v V"
impression that a national bankJs ne-- tv
...-i." . . art 1
; iu uvn tzmcrgencies. rvoin- 44
. ' , t
j tiv .juiiB iBjmrni rctumru wnn
fully adequate to these ends. On all
. s
these points experience seems to have ,
out us aiu, out exchanges have also K
been more rapidly restored than when V '
it 'existed thereby showing that private v. Vv ?
capital, enterprise. ' and prudence am ' w .JV
confirmed the views heretofore submit'- a-i
ted toCongress. We have been saved f "
the mortification of seeing the dism tses
or the community for the third time
seized on to fasten upon the country so
uangenius an itismuiton and we may
also hope that the business or individu
al will hereafter be relieved from the
injurious effects of a continued agitation
of that disturbing subject. - The limited
influence of a national bank in averting
derangement in the exchanges of the
country, or in compelling the resump
tion of specie payments, is now not less
apparent than its tendency to iacrease
a. a a l"
inordinate speculation oy suuuen ex
pansions snd extractions, its disposi-'
tion to create panic and embarrassment
for the' promotion or its own designs
its interference with politics; and its far
greaterpower for evil than for good, ei- '
titer in regard to lhe local institutions
or the operations f Government itself.
YVbatrwas in these respects but appre
hension or opinion w hen a national bank
i. . p . 1 1- 1 , .
was nrst tsiaousiieu, now stands con- .
firmed by humiliating experience. The '
scenes through which we have passed
conclusively prove hgw little our Com
merce, agriculture, manufactures, or
finances, require such an institution,
and what dangers are attendant on its
power a powers a trust, never to be
conferred by the American people up
on their Government, and still less up
on individuals not responsible to them'
for su unavoidable abuses.
My conviction of the necessity of
further legislative provisions for the
safe keeping and disbursement of the
public moneys, and my opinion id re-
Srd to the measures, best adapted to
e accomplishment of those objects.
have been already submitted to you.
These have been strengthened byre-,
cent events and, in, the full conviction
that time and experience must still fur
ther demonstrate their propriety, l reel
it my duty, with respectful deference
to the conflicting views of others, a
gain to invite your attention to them.
-With the exception of limited
sums deposited in the few banks still
employed under the act of 1836, (he
amounts received for duties, and, with
very inconsiJerable exceptions, those
accruing from lands also, Jiave, since
the general suspension of specie pay
ments by the deposit e hanks, been kept
and disbursed, by the Treasurer, under
his general legal powers,-subject to the , 7
superintendence of the Secretary' of '
the Treasury. The propriety of define
ing mnro specifically, and of regulat
ing by law, the exercise of this wide
scope of Executive discretion', has been
already submitted to Congress.
A change in the olbce ol collector at
one or our principal ports, has brought
to light a dclaication ol the trravest
character, the particulars or which will
be laid before you in a special report
from the Secretary or the Treasury.
By his repo t and the accompanying
documents, it will be seen that the
weekly returns of (he defaulting officer
apparently "exhibited, throughout,' a
faithful administration of the affairs in
trusted to his' management. It, how
ever, now appears that he commenced
abstracting the public moneys shortly
after his appointment, and continued to
do so,- progressively increasing the a
mount, for the termor more then sev
en years, embracing a portion of the
period during which the public monevs
were deposited in the Bank of the U
nited States, the whole of that or the
State bank deposits system; and con
cluding only on his retirement from of
fice, after that system had substantially '
Tailed, in consequence o( the suspen
sion of specie payments.
The way in which this defalcation
was so long concealed, and the steps
taken to indemnify the United States,
as far as practicable, against loss, will
also be presented lo you. - The casa is
one which imperatively claims the at
tention of Congress, and furnishes the
strongest motive for the establishment
of a more severe and secure system for
the safe keeping and disbursement of .
the public moneys than any that has.
heretofore existed. ' . 't.
It seems proper", at ill events, that, .''
by an eany enactment, similar to mat
of other countries, the application of
public money by an officer of Govern
ment to private uses, should be made a
- . 1 !.. ?. . .
felony, and visuen wnn severe and Ig
nominious punishment. This is , al
ready, in effect,, the law in respect to
the mint; and hssbee n productive of the.
mont salutary results. Whatever system
is adopted, such, an enactment would
be wise as an independent pleasure,
since much of the puiilic mnin-ys oiat, .
in th'-ir collection and ul'iointe dis ¬
bursement, pass twice throug'i the
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