Edgefield advertiser. (Edgefield, S.C.) 1836-current, December 18, 1844, Image 1
b- - -. - ,d sit adl
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We will cling to the Pillars df 6ie Temple of our Libeirtles; ab if it must rl'a irii Perish amidst thie Runs. - . d or e
VOLU I atiel. (3 OIRVt 1a18 e,. n. E. lile ) ty - 14.
18-DGEFIE LD AD V EIRTISE
BY
W. F. DURISE, PtoPIUETOR
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ExTRACTS FRO51 TuL PRESieNIT'S Ms.UGL.
To the Scnate and House of .
Reprrsculatives of the United S.ates: '
We have continuted cause for expressite
our gratitude to the Supreme Ruler of the
Uoiverse for the benefits and blessings
which our country. utnder his kind Pisovi
4lence, has enjoyed during the past year.
Notwithstanding the exciting scenes ihro'
which we have passed. nothing has oc
curred to distturb the general peace, or
to derange tle harnonty of our political
system. The great tmoral spectacle has
been exhibited of a na1tnh. approximuia
ting in number to 20,000 000 titf Iople
having pierformed the high and irr portatt
function of electing their Chief Magistrate
for the term of four years. nithout the
commission of any act ofvitle ce. or the
manifestation of o spirit of insubordina.
tion to the laws... The great and intesti
inable right of suIrag. has been exercised
by all n ho were invested with i1. under
the lawo s of the difierent States, in a spiri
dictated alone by u desire. in the selerttoo
of the ag.ent, to advance the interests of
the country. and to place beyondjeapardy
the institutions.under which it is our hap
pines to live.,- That tle deepe-st itterest
has been manifested by all our country
men in the result of tie election, is no,I
less true than highly creditable to them.
Al IV 0 0
There has been no material change in
our foreign relations since ny h:st Annual
Message to Congress. With all the Pow
crs of Europe we cousine on the nstimi
friendly termxus. Indeetd. it aflrds ie
much satisfaction to state. that at i> for
mer period has the peace of i1 it enalighi
ened and imiportant quarter of the globe
ever been, aiparenily, more firmly estab
lished. * * *
Since th.- cbse of your last session, a ne
otiation has been formally entered upon
between the Sec-r'tary of Stae and her
Britannic Majest%'s Minister Plenipoten
tiary and Envoy Extraordinary residing
in %! astington, relative to the- rights of
their respective naions itn and liver the
-Oregon territory. That negoatiion is
sill peadin6. Sould it, duritng your s's
sion, he brought to a defittive conaclusion
the result aotl lie promptly comin icite.I
El Cosngress. I wollid. anowever againa
c.4 y 'ur steution o tie reeo.taineidanoataa.s I
conataed in previous miee-sa-s. desinedl
to protect aid fazcittie ea.igra ion it that
Territory. The estatiistin-ni of :ilitar%
potits at suitable poittts upon ate ex:el-d
line of lanud travel, vwould cuable Jur" ei:
zens to nigrate in comparative saletv to
the fertile regitins below the falls ofthe
Columbia, and maske the provisioan ofthe
existing convention for lii- jt int occuat ,a
tOton o1 the Te'rri'ory, by .ubhj.eats of Greazt
Britain, and the citizetls of 'lie Uited
States, snore availabale thasn teretnfatre to
places of resr for the weary emnigraint,
where he wouuldl be shielited secuarely
from the lutdians. and he~ enaabled to re
cover fromt the exhaustation ttf a long line
of travel. Legislative enactmnents shsouldl
also tie made which should sprend over
him the wgis of our laws, so as to afford
protection to hts person and property when
he shall have reached his distant haomae.
to this latter respect, the British Govern
mnut hats been tmuch tmore careful of the
iateresss of such of her people as tare to
be foutnd in~that country ahun the United
States. She hats moade tnecessary provis
siotn for their seCurity at:d proteCtiona against
the acts of the viciously dlisponsed aind lay
Ies; and ber emigrants retpoises in iuafelv
under the panoply of her la ws. * *
it would have given tao the greatest
gratification, in this may lauw aninaal comn
mnunicationl to Csongress. to have baen able
to announce io y ou t he compillete ;and ten
tire settlement atnd atdjustmenct oaf other
matters in difierence between tht United
States and the Gnveraanmetnt of Her PBritan-.
ic Majest y, wiir were adlverted to in a
previous 'Mlessage. It is .,o obaviounsly the
inte rest of botha countries it respect to
the large and vailuuable ctommaerce which
exists betwaeeni them that all causes of
ctmiplaint. however inconsitderabale, shaould
be with the greatest promnpaitutle, removed,
-that iitamust be regarded as cause of re
gret, that ay unanecessary delays should
be perined toa imervene. I is trite. th-t
int a pecuniary point sif view,-the matters
alluaded to, are altogethIer.~itasinificie~nt
to amounotwnea compared with ihe~ttm
pie resources of that great tnation;- butthbey
naethertheles, mtore patrtienalarly that limnite;
ed class wh lich arise unde~r seizuroat and
detetions of Americant shipsotn the. cuast
of Afriea,. nyotn ithe tiistakena stuppoittn
indulged iivat theo ime the wrong was
-...r.
committed, of their being engaged in t1
slave trade,-deeply affeet the seusibiliti.
of thia Government and the people. Great
Briian having recognised her i'esponsi
biliiv to repair all such wrongs by her
actiom in othr cases, leaves nothing to be
regretted upon the subject. ais to all cases
prior to the Treaty of Vashington. tihan
the delay in making suitable reparatioh in
such of them as fall plainly Unithin th
principle of others. which she has lon.
since adjuisted. The injury inflicted by
delays in the settleten of these clains
fall- vith severity upon the iudividual
claimants, and makes - a strong appeal to
her maguanimity and sense ofjustice for
a speedy settlemeni.-Other maiters
arising oaat of the contsarnet ion of existing
treatise also remain uiadjusted. and will
continue to be urged upun her attention.
The laborers of the joint commission
appointed by the two Gov.-rnments.'o run
the dividing line, estahlished by the Trea
ty of Washington, were unfortunately,
much delayed in the commencenent of
the season, by the failure of Congress. at
the last session, to make a iiniely appro
priation of funds to mteet the expenses of
the American party, and by other causes.
The United States Comraissioner, how -
eaer expresses his expectation that, by
increased diligence and energy, the party
will be able to inake up for lost time.
We continue to recieve assuranes of
the most friendly feelings on the Part of
all the other European Po% ers; with each
and all whom it is so obvionsly our inter
est to cultivate t'6e mtost amicable relations.
f[ ny last Annual Message, I felt it to
be my duty to make known to Congress,
in terms both plain and emphatic, my
pinion in regard to tae war which tas so
Io e existed between Mexico and Texas;
which, since the battle (if San Jacinto, has
consisted altogether of predatory incur
sions- attended by circumstances revolting
to humanity. I repeat now, what 1 'hen
aid, that, after eight years of feeble and
tnefflctual efflorts to recover Texas. it was
'tme that the war should have ceased.
The United States had a direct interest in
he question.-The contiguity of the two
;tions toour territory was but too Wtell
:alcnlated to involve our peace. Unjust
mspiious were engendered in the mind of
tne or the other of the belligerents against
is; and, as a necessary consequence,
American interests were made to suffer.
ne't our pence becauqe daily enidnogered.
In addition to whiM. i: must have been
Obvious to all that the exhattsion prAdced
)y the war, subjected both Mexico and
'exas to thn interference of other powar ;
k hich, without e he interposition of ethr
Govertitw . might eventuat. in the most
,eriou injury to the Uaiaed States "' 0
Cevernmeur. from time to time, exerted
is friendly offices to bring about a termi
antion of hostilities upon terms honora
le alilee to both the belligerents. Its ef.
'oris in this behalf proved unavailing.
'lexico seemed, almost without an olet.
:o persevere in the war, and no other
ilernative was left the Executive but ta
ake advantage of the well known dispo
itions of Texas, and to invite her to
qver into a treaty for annexing her territory
- that of the United States.
Since your last session, Mexico has
heateted to renew the war, ana has ei
nadc. or proposes to anke, formidable
reparatius far invading Texas. She
aVt is,ued decrees and proclamations, pre
tarations to the commencement of liostili
es, full af threats, revoltinag to humanity
nd m hich. if carried into effect. would
rouse the atteation of all Christendom.
'his new demons:ration of feeling. there
s too much reason fu believe, has been
roduced in contsequence of t he negotiation
ith Texas. The Exeruaive. therefore,
aatild anot he indaill'erent to such proceedings;
sna it felt to tbe date, as well to itself, as to
hae honor otf the coumry. that a strong rep
rescntationt should be made to alhn Alexi
en Goavernment upon the subject. Thais
was accordinigly done ; as will he seen by
Lthe copy of thte accompanying despatch
rromn the Secretarv of State to the United
St attes lanvoy at Miexico. Mlexico has no
right to'leoptard the peace of the world by
trging ainy longer, a useless anad faithless
contest. Sucha a condition of things would
not he tolerated Ont the Europeaar conti
nent. Whv should it beeon this I A war
of desolattioi such as is now thtreated by
Alexico, canniot be 'vaged withoaa - invol
ing our peace and tratnquility.: it i, idle
to believe that such a watrcould be looked
tuponi with-indiffere~nce by our own citi
zeus, inhabiting adijoining States : atnd our
neutrality would be violated, despite ofal!
elforts on the part of th'o Goverment to
prevetat it. The country is settled by em
igrants from the Untited States. under invi
fitions held out to them by Spaitn atnd
Mf xw'o. Those emigrants~ have. left be
hinl-them friends and relatives who would
not fail to sympathiso withthaem in their
difficulties, and who would he led by
those syinpathties. to participate in their
struggles. however energ,aie the actton of
Gorvernmetnt to- preven~it :-Nor would
the numerospnad~ formaidablebhandso [an
dians, theniiomiiaiiliketo~b botdsnnm
landwhi liggairs
Missouri,: andtI vaunodi'
ltrge tracsae lfirii
Te ss ho likely) .tp:1q9sv. T1he
nlinattons of thog Rtribes' leadt
hm invarailtoi end ve:pretexts
eoist
Miexicr had-t ~ dfdispleasure
against thsG9Ei~reople for ne
gicttnug Wha .. interest of
lijs-a s aed Sli ti'eaty?-She was
deip e mg dii ince Texas was Inst
to bo-Te independence of Texas
was recognized by several of the leading
powers of the earth. She was free 'o
treal-free to adopt her own line of policy
-free to take the cour.e which ihe belii
ved %%as best.calculated to secure her hap
piness. Her Governaient and People de
cided on annexation to the U. Siates; and
tie Executive raw, in the acquisition-of
such a territorY, the means of advancing
their perman: nt happiness . and glory.
What principle of good faith then .was
violated? what rule of political morals
trampled under root? So far as Mexico
herself was concernedi tile measure should
have been regarded by her as highly bene
ficial. Her inability to reconquer Texas
had been exhibited, I repeat. by eight
not* nine-, ears of fruitless and ruinous
contest. In the meantime. Texas has
been grow ing in population and resources.
Emigretion has flowed into her :erritory,
from all parts of the word, in a curren
which contiones to increase in strength
Mexico requires a perisatent hoondary
between that young republic -tld herself.
Texas, at no distant day, if she continues
separate and detached from the United
States. will inevitably seek to consolidate
h r strength ty adding to her domain tie
contiguous provinces of Mexico. The
spiri nf revolt rrom the control of the
Central Government has. herett fodre, man
ifested itselfin some of those provinces;
and it is ''ir to infer that they would be in
elined to tatce the first favorable opportu
nity to proclaim their independence, -and
to form close alliances with Texas. The
war would thus be endless; or. ifcesoationq
of hoqtilittea should occur. they would only
endure for a season. The interests, of
Mexico, therefore, could in nothing be
better consulted than in a peace with her
neighbors. which would result in the es
talishiment of a parmenent boundary.
Upon the ratification of tite treaty, tlie Ex
ecutive was prepared to treat with her ont
the most liberal b-tsis. Hence the bouu
(aries of Texas were left undefined by the
treaty. The Executive proposed to settle
these upon terms that all the world should
havd pronounced Just and reasonable. No
tiegatiation upon that point could have
been undertaken between the United States
and Mexico. in advance nf the ratification
or the ireaty. We should have had no
right-no power-no authority to have
conducted such a negotiation; and to have
undertaken it would have been an assunp
tion eqatlly revolting to the pride of Mexi
en and Texas, and subjecting us to the
charge of arrogance; while to have propo
sed in advance of annexation, to satisfy
Mexico for any contingent interest she
might have in Texas. would have been to
have treated Texas not as an independent
power, bu-as a mere dependency of Mex
ico. This assumption could not have been
acted otn bv the Executive, without setting
at definnce your own solemn declaration
that that Republic was an independent
State. Mexico had. it is true, threatened
wa azainat the U. States, in the event the
treaty of atnexation was ratified. The
Executive could not permit itself to be
influenced by this threat. It represented
in this the spirit of our people, who are
ready to sacrifice much for peace. but no
thing to ittimidation. A war, under any
circumstances, is greatly to be depinred.
and the United States is the last nation to
desire it; but if. as the condition of petce,
it be required of un to forego the uiques
tionahle rigt tf treating with an indepen
dent power, of our owti ctilitient, upon
matters highly interesting to both, and that
upot a naked and unsustairted pretensions
of clain by a third power, to control tle
free will of the ptower with whonm we
treat-devoted as we may be to peace.
a d anxious to cultivate friendly relations
with the whole world. the Ext-cutive does,
not hesitnte to say that the people of thtt
Utited States would be ready to brave
all cotnseg--nces, sooner than submit to queht
condititon. But no apprehension of war
was entertained by the Executive. and I
must express frankly the opinion. thai bad
the treaty been ratified by'thte Sentate it
wouldi have been followed by a prompt
settlement, to the entire satisfacetion of'
Mexich, of every matmer in difference be
ween the two cotntries. Seeing, then, that
new preparations ''or hostile intasiott of
Texas were about to be atdopted by Mex
ico, and these were brought abput he'causze
Texas Itas adnpted..the suggestiooftthe
E xecutive uipon the subject of annexarioon.
it could not passively have folded ita arms
and permitted a war, threatened to be at'
cotpanied by every tret thtat ~ould tmark a
barbarous age, to bej'waged againsr her.
beause she had done 'so.
'Ot:her considerations of acoeditarlio"
character influenced the course of the Ex
ecutive; The treaty w~hich hiad thus beroi
negtiatedhad failed to receive 'he rutifi
cntiottof the Senate. Onto of the- chief
ojetions which were utrged against it.
wa found to consist in the fact, that the
qestiont of antnexation had not been sutb
mittetd to the ordeal of public opinlioni in
the United State-. Hrwever untentatle
such an ohjectott was esteemed to be. in
view of the unquestionable po'ver ofthet
Eecitive to negotiate the treaty. and the
et and lastinug interests involved in the
guesion, I felt it be my duty to submit
the otle subject to Congrsts as the. best
expodlers of popular seniinieur. No delfiu
itiveationa havittg been- talfei otn tue'suit
jet,'the questionireferred itself directly to
the d'eeision of the~Sate-s antV~the People.
Thlgreat poputar election whtchhasjust
termiated.-afford the beat oppottiity of
ascertaining the nil~l of thte States, and
the People upon it Pending that issue.
i becamne the imperative duty' of the Ex
ecutive to inform Mextco that thte qutes
tm. or anneartinn was still before the A
merican People, and that until their I
sion wps pr~qnouuncedr;any serious invasil
of Texas vdiald be regarded as a
te=pt t*f4distill their judgment, n
could inot U looked upoh with indifferenc
I am :dos' happy to inform you, that 1
such invasion has taken place; and I iru
that whatever your act ion may be upt
it, Mexico will see the importance ol dec
ding :the mflatter by a resort to- peacef
expediments, in preferendo to those.
arms.- The decisiud of the People at
the States, oi tbis great and itierestir
subjeet, has been decikively manifestei
The quetion of anneiation has been pro
sented nakedly to thei consideration. B
the treaty itself, all collateral and incidet
tal issue4, which were calculated to divir
and distract the public counsils, wei
carefully avoided. These were left to tE
wisilom of the future to determine. I
presented. I repeat; the isolated questimr
of annesatihn; and in that form it has bee
submitted ro the ordeal of public senti
ment. A controling majority of the peoph
and a large misjnrity of the States, hav
declarared in favor of immediate annexa
tion. itstrueionq have thus come up 't
both branches of Congress, from thei
respectivp constituens. in terins of I
most etmphatic. It is the will of both th
peopile and the States, that Texas shal
be annexed to the Union promptly an<
immediately . I., may be hoped that, C
carrying into execution the public will thu
declared, all collateral issues may h
avoided. Puture Legislatures can het
decide as to the number of States wbicI
should be formed out of the territory
when the time has . arrived, for decidin
that question. So with all ~others. B,
the treaty, the United States assumed th
paydent of the debts of T-%as. to an a
-mount not exceeding 810.000.000; to b
paid, with the acception of a-sum fallin
short of $400,000, exclusively out of th
proceeds of the sales of her pul iic liiods
We could not, with honor. take ihe larad
nvithout assuming the full payment of al
incumbrances upon thetn.
Nothing has occured since your las
session. to indu'ce a doubt that the dikpo-i
tions of Texas remain unaltered. No id
titnation ofan altered determination, on
the part ofher Government and People
has beer furnished to the Executive. Shi
btill desires to throw lierselfunder the pro
tection of our laws, and to partake of lh
Ilessings of our federative system; whil
eviry-American interest would see-n t,
require it. ' The' extension of our coas
wise and foreign trade,.. to -an amoun
almost inr lculable-the enlargement a
the m.trkef for our matiafactures-a- con
siantly growing market for our agricultu
ral productions-safety to our f.-ontiers
and addition strength and stability to thi
Union,-these are the results which woub
rapidly develope themselves, upon thi
consummation of the measure of annexa
lion. In such event. I will not doubt hu
that Mexico would find her true interes
to cottsisi ii, meeting the advances of thi
Government in a spirit of amity.
Nor do I apprehend any serious cam
plait from any other quarter; no sufficien
ground exists for such cornplaint. W
should interfore in no respect with th
rights of any other nation. There cailn
he gathered from the act, arn design o
our part to do so with their possessions a
this Continent. We have intetposed n
impJdimertis hi tite Way of such acquisi
tion of territory, large arid extensive a
misany of them :ire, as the leading power
of Europe have made, frot time, in ever
part of the world. We seek no -conquei
tide by war. No intrigue will have heei
resorted to, or nets of diplomacy essaye
to acconmplish the ninnexation of- Texat
Free and independen.t herself, she asks I
tihn received into or Unfoni. ~I -is
questian for 'rur owti decision whether sht
shall be receivedl or' not.
The tw., Governmnents having alread;
agreedE through-their resoective organs. o
the terms of annexation, I would recomn
mietnd their adoption by Congress in th
form of a joint resolution. -or ac', to bn
perfected andI mad~e htinding otn the tw
countries, wvhen adopted in like manne
by the Goverme~'nt of- Texas.
In nrder that the subject may be fall
presented in all -its bearings, the corre
pomfdence which has taken place in'rell
rence to it. sintce rte adjourmenit of Cot
gress, betweeii tIfe United1 States. Texa
and Mexico. is herewith tratsmicted.
The nae'idments' proprised by ii
Senate to the Convetiin -concluded bi
tween the Unrted States- antd M~erico e
the 20th Nutvemnber, 1843. have been iran
-ritted thironjgh onr Minister, for the eom
cutrrence of the -Mexican Governmenr; br
adlhough nrged thereto, no actioni has' yn
been had on the-subject; nor has any at
er' tbteii giveni which -would authoriz~e
favorab~ml"- conclusion- in -the fut ure;
'The deLr'reO of September-, 843, itr relu
lionl to the retail trade, the order for thn
e'xpulsioni of foreignters..-and tharofa recer
.late ini reigardl to) passports-nFl' of-whic
is tcufnsdered as in viohatiolatittn' of: t:h
Tr',eaty af Ami'y and Commtrceo betwee
Ihe tw'. coututries, have led t'a correspm
ilence of considerable leneth: beiween i h
Minister for Foareign Relailons' and ota
Representtive at Mexico, hi r withot
any satisfactory result. -They remain sIt
unadjusned, and many. and serious ineora
vonienee< have, already resulted to or
citizens ini consequnence of them.
-Questions growing out of disarming
body of T'exian troops under the conimnan
of Major Snively. by an officer in the sei
vice of the United States, acting under it
Iorders of our Government ;:-and :the fore
blo entry into the Custom' House at.B.ra
arly's Landing, on Red River, by certai
citizens of the United States. and ttkii
In away ih -re from the goods Wized by ih
I Collector of the Customs, as fbf~ited ut
a. der the laws of Texas. have hWee' adjuste
D. so far as the powers of the Executive es
io tend. The correspondence betVetil
it two Governments iin iefeience I
n . subjeetn, ivill 6e toudd amotig th41
i. panvina docurrini's.' It conains
'sttment of all facts 'and irOtURia'd
)f.with the views taken on As 1
d the priniples-- on w b g'li ii;
g have been adisied. Ifaitt9ti COe
I. gress to make the o i rP Writsi
to carry t he arrange I i t . i 6
y I respectfully recoi'ndV
I- The greally toved cotidition o1 0h
0 Trenseiry, affords a su'ject' for gqee#
0 cougiratulati.- The yaralysisiwhkhl&j
fallen on t a and commerce,, and wcl
subjectedi Government to -th n S
9 iy of reso i'g to loans. 'and the Issue o
1 Treasut ,notes,. to a~aigi amount ha
passed away; ad, after th- paymento
. npwarlsnf$700,00, 4n aceount of th(
e interest, and s.edemption of 'more thar
- S5.000,ofturrh'e public ddt,isfi:l rall
D due iii 6 e 1si of jani.a next and selling
r aprt t a u ards ift $200,OO0 for h pay.
mey el outstanding. Treasury noles nod
a meetin;i an instalment of tie iebts of the
I corporgte cities, of the Distrit'4- Colum
I hiaan estimated supld , of upwards al
87,0007006over ihe abdve 'existing ap.
propriatonswill reosaiti in th Treasury
at the 'lose of ilie fiscil year. 'Should the
t Treasur notes continue outstanding at
I fiereitoIre. that snrplus will'heconsidera.
bly a'ugmrenied AlMthit Ah all interest
. has ceased tindri hein, arid the 'Govern
rient has inv ied inei' reiurn to.the Trea
sury, yet th remainoutstanding afford
- ing great firilities to commerce, and es
tablishitig th fieact that, under a well reg
ulated-system 'of finance,-the Government
has tesources within itsel, which' rendei
it itidependeiit in time of iedd,' not' only
i of private loans. but'also 6fb-nk facilities.
The ouly remainine subject of.regret is
that the remaining stocks of the govern
ment do not all due at. an earli r: day;
since their redemption would be entirely
within its control. As it is it may be well
worthy the consideration of Congress,
whether the law establishing the sinking
fund-under the operation of which the
debts of the Revolution and last var wit'
Great Britain were, to a great exteut. e's.
tingnished-should not, with propei
modifications. (so as to.prevent 4ne.ccra
L p Ulation~ofsurpluses, and limited in a
rmoun -t Io' a specfiic wum) he reeinae.ted
Such provision, which would P.uthjorizA
the Government to go into the -market fo
a purchase of its own stock, on fair- terms
woul-I serve to maintain its credjt at thi
highest point, and prevent, to a greal
extent. those fluctuations in Vtie price o
its securities; which migit, under othe
circumsiance, affect its c'.-ed'&. No appre
heusion of this sort is, at tAis moment, en
tertained. since the st-eks, of the Govern
mthent when but two 'yep.re ago were offerei
for sale to capitalie is. at home and abroad
at a depreciation., n'.id could find no put
chasers. are norx ?,realy above par in th
hands ofthe holde rs; but a wise and pru
dent forecast rolmonishes - us to plae
heyond t he rea ch of continigency the pub
lic credit.
> It must also be a matter of unmingloi
gratification, that under the existing finan
Seial sytem---resting upon the act of 1789
I and the resoluti.n of 1816-the currene,
has attained n s.tate of 'perfect soundoes
and the rates if exchange between diffe
rent parts of the - nion, which, in 1841
I denoted by their enormous amount, th,
great depr eciation, and in fact.. worthless
1 tiess of tt'e currency in most of the State
1 -are n'jw reduced to little more than th
mnere r,xpense of transportin'g. specie fron
place. to place, and the risk incidfen't toth
,' orer~ation.' In a ne w counttry like that c
' the,. Utnited States-where so many in
- dJtemetnts are fheld 6uit for speculation
r. 'Whe depositories -of ilie .sur'plus revenuet
e' eonsisting of , Banks of any :description
ci when it reache's any considerable amouni
i.requirethe clo-s'est vigilance on the part c
theGoyernent. All banking .institutions
Funder whaieier. denomination- ,they man
psare governed h5 ali almnost exclapie
-r'egard :o thte interests of the stockholders
-. That 'te1iest consists iu the augmenotatior
3, of profits, in the form-'of dividenids, undli
.large surplus; revenue entrusted to theii
a custody is but toit .a'pcto 0 eadh to excessiv
.loans and to extravagantly large issueu
n paper'; -As a necessary consequence p
-. ces'arc nominalfy itcreased. and the spec
. lative, mania seizes uponi the public mind
A fictitious state of prosperit y for a sea
*i son exists ; anid. in the .language of ihe
day, money begomes pexy. Contra:'ts art
entqrreIf into~h indivjid'als,'resting on0 thit
substantial state of thins sat the delusiot
-speedily. passes .awa d the country it
e overrun.by-an.in ~ Tjs so wveigh'y at
t to overwhelm manyi altid toviaigevery de
hi partmnent of industry: withlgreat and ruin
e ous. embarrassmnent. The. greapest vigi
i lanice becomes uecessary::ons the 'part ol
Government to guard aainst twbittetae ej
e things. The. depositorieb. rs.sp be givet
r disimeiy 'tu underst and t'nat, tloptfavors a
t' thie Government will, he altoget~erith~
II drawvn, or substanatially. dimntisiked trj
-revenues shall be regarded as asddtiggns y
r their banking capital, or as the fotindatio
of sit enlarged circulation. The..Gbvern
a melit.. t hrough its revenue hansat .all tinaes
dI an important part to. performa inconnext9i
with the currency ; and, it, greatly'depep4d
e upon its vigilence and .careawhatherj thi
country. lIe involved. in embarassmnenti
similar to those which it basz haf lreenti
n to encounter: or, gided by the ailou'o
g thd Treasuaifslinllitl d
e h-and leniytogdi 24. 64
- ~ ~ _MI1 .,2lragi g a nd
I; fahr gvntdtr pd
- dfir@*dshe Wli tiidrzsbrplneg
swd4a ani ttriytwilmi tiiegii
by wyisall~tdnuotattife
uiforseli ie hgt
d
travaganeg itet aa eegsikl ai fTlbpr
Motron iowerbri ibhmwied
exercseittlijnii.mosttiteAfaorm isa
burden oilatid re t p
toi-enderz various pretexts, foaruprposes
haiing Un6eaffinityt tothe'motiveinwhili
r dictated its grant, and the-eitraagance-d
Governmentesiiintilaietesidiidinaj eitram
agance, until the ppirit. ofla,wild.ajdil
regulated. speculat lnnolves pieand.
in its unfortunate resuris. n.'l vot'
such fatal;consegueees, .t, m be id
down as-it a axiom, . n't an
political tru th, the;n .regcralais4sifid
be 'impsed than are2ncessa gr'
econorical administ'iitior iof'il gvrn
ment,'*an thal whatever exists
should be .rediscd or di&? sy
does in no 'waey i li. r
of a sdund "diserinfinaiio .1P solection
of" th articles lo be! ta ,
regard' to ihe public .:eal .' 1o
times, suggest t'he leg ija.[b
leave; the range of seleto u C
aniasuch ' sgectios:Nholid alwaybse ' inadid
'with an eye. to'.the great,!steresi rih
country. Composed as is fhe Umion Pp
arate and independent'States,.a patrotag
Legislature will not rail in eonul jl gtjie
interests of the pars, to p.s ut
as will b er.t de.ntated cosdvaneAid
barmtny' of the wh6o'e,' id th' i
that permanen intbepolicyoftMYe 0i
ernment, wik'opt which.all effortAo ad-.
vancc tae public pr'osperity are .ain an
fruitles. Thisgreat and,. illyjppr
tant as' res s wi nsth . ondtJ'j
Exez u.uve can do no ore than ow
ien d the general prinipiles iwh
rP,overn in its execution. . .A
I a referring you to the accomp"Y;
report o' the Post .Maeter. GenealIt
fords me continued cause of graHlifiQil ,
he able to aditrt tog eI , at
fairs of the Depavtmeneor.
years. have been so conducted as, 'Mi is
unaided resources, to e la e ex
penditares. On 0 i dCiis 6dcd
debt of nenrly $500,000existedidcfs ii1h.'
Department, which Cangress discar'
by an appropriationr -froi thiTriairj.
The Department, on* the 4hlairciliiR
r will be found, under the mainagemit iV
r the prese'nt efficient head, free "of delif -jW
embarrassment. which could onlf haE
been dono by the observance and pra-tice
of the greatest vigilance and enconomy.
SI hav ue,-gentlemen of the' two 1oi
see of Congress, pres'ented' 4i a trie ani
- faithful picture or the cocirtion 'of pu'blio
affairs, both foreign and domestic. The'
wants ofthe public service are madekui'
to you; and matters or no ordinry itn
portance are urged'upon your .cojisidera'
tion. Shall i not be permitted to congrat
ulate you on the happy auspices undea;
which you have assembled, and in the 6m
portant change i-H the bonditioti'of thinigs
Vhich; his ocetirred in the lhst ihrid yiars ?
During that period questions wiih f'reign
powers. have been settled and adjusted.
A desoliting and waging war wiih savage
tribes has been brotigbdo a close The it-'
- ternal tranquilitj adie *r "hdatenU
s ed by agitating questions, has been, prel'
s served. The credit' of the (etvernment,
Swhich had experienced a o arjen
liarrassmient, hasbeen tiorggghly resto-ed.
r Its coffers, which for a'seasongwerd eibipgy
have been replenished. .Aecrrency~ fearfve
- uniform in'its' value, has'taken 'il~q alcp
,of ono depreciated atid ialitos't ior iless -
Commerce- and maduurar'Whfhatt
,suffered in commion- with'every'othM it
f terest. have: once. jiore" revived,"Ifodl tfIe
whole eduntry exhibits seeEfl
r erity nd .hapdigs.2 Tlade aid hatter
?no longer jop'rrdgi y a wid and speep
a laiive-.mama,.rest uspon7 a solid-andis ub
t. stsitialsfooft Og;' and th rapid grwt "f
b~ our 'chies, in every .direct:on," beseks'
most strongly the favorable circumstaicew
by Whith..we ai-e surrounded Myfffh1.t
ness, in t'hs retirement which shortf~awaie',
me,.is:the ardent.' hupe wtthi I Fexpeit
ejic' that tiilladttef-'prosyerity is nsifier
deceptive nor' destitied so 'i'ifvl
'and that measuues wh'ib have4notjdt :
ceived its sanction,' but whiclr !aind~' ni?'
regard als closely connected with the'had
nor, the' glory, and stilliluIire enlarged'
pros erity ofth&e dt'riiy, are distiiedJ at.
atiearly'~ de otreceive tlie. pprdvala
'ogesUnder thiese'rerstsnfan si
with these antidipations.I shfill mnosigladlv
leave tio oth'ers, more able'sin omyselrf,wi
nobile an'd plcasing insk~f Sustainii:rthe;
public prosperit y,- I ~shdiliaknf7ih nfo
Sinto, retirement tlie~itifyi"eiloj
.that: as my sole obiit 'uhuhle
to'advance 'the''public food,. ~ not
have entirely failedlin' ccilhitiig It ;
and this .gratificatioji jatheikhreiieda no
friall degree, b'ythfidi that~indsdj.
eep and abiding senaeof'd6:fti,'ah o
'ad 'nysdif ontstrainid. touresoat the
iblifii5WeVtoeit bktieitbet bdiblaser
b pfisimpproval on the i~t offih 16pl
notekenedi iii d6isil'ftab'
matt thihtgdat co adveiidd o~
1our GovernmentA R ?- 7 .
Wskingtoti Dec. 84