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ra?ya L-L i-.J'-JI expedient, but your Committe were unanimous in recommending an Agriculturnl Survey of the State, and I will, here, briefly inenlson its purport and advantages. An Agricultural survey, relates to the nature of the soul, particularly in reference to the crops cultivated ; to the climate, with reference to the crops grown; to the number of acre cultivated; to the quantity of land in wood, in pasture, in roads, or under water; to the objects of culture, the modes adopted, and the proceeds: to manure; to live stock of all kinds, in their relative utility, for pleasure, Jla.bour, food, and the dairy ; to dairy produce : to poultry, diseases of domestic animals; to bees, orchards, gardens, farm buildings, farming impliments; to silk, and many miscellaneous subjects. The duty of an Agricultutal Surveyor, is, to visit every District and Parish in the State; every principal farm or plantation, the management of which, promises to afford useful information ; to correspond and co operate with practical men, or, in the words of the resolve of the MassachuI.i>(Tiabfiirp " nppnroto in. formation, of the state and condition of the agriculture of the Commonwealth, and every subject oonnected with it, point out the means of improvement, and make a detailed report thereof, with as much exactness as circumstances will admit." .Your Committee will add nothing further to these details, than advert to the fact, that arery Executive Message, directs the atten ion of the Legislature to thin subject, but from a misguided spirit of economy, the call has, hitherto, been neglected. It becomes us, now, to act with independence, and prop our waning fortunes : policy requires, it, patriotism demands it, and our duty forbids us to neglect the welfare of our country. Your Committee consider their duty fulfilled, in offering these views, and pressing the adoption of the following resolutions. Resolved, That an Agricultural Survey of the State of South Carolina, is highly necessary and expedient; that it will he a means of developing and improving her resources; retaining at home, her A I f I r*r\ M ^1 n A ,il<\ (t A In L AitM n ?. / ] A cilia s;avc iciuwui, nun u<juiucincting, in some measure, the effects of competition in her grent staple, from the fertility of new lands in other States. Resolved, That the result of each year's survey bo annually reported to this House, and copies distributed to every Agricultural Society throughout the State. Resolved, That the sum of three thousand dolla'9 be appropriated for the ensu. ing year, to said survey; and that the (iovernor be specially 'charged with the selection of a capable person to execute the same. All of which is respect fully submitted. Robert W. Ropkr, Chairman. I_1 - 1 - -L- ?i_. % PRESIDENT S MESSAGE At twelve o'clock yesterday the Presi. dwijt of the United States transmitted to both Houses of Congress the following Message: . To (he Senate and House of Representatives of the United States : In coining together, fellow-citizens, to center again upon the discharge of the duties with which the People have charged us. s^vcrallv. we find nrnat occasion to _... - ?. i e rejoice in the. general prosperity of the country. We ure in the enjoyment of all the blessings of civil and religions liberty, with unexampled means of education, knowledge, and improvement. Through ihe vear which is now drawing to a close pence has been in our borders and plenty in our habitations; and although disease has visited some few portions of the land with distress and mortality. yet in general the health of the People has been preserved, and we are called upon hv the highest obligations of duty to renew our thanks and our devotion to onr Heavenly Parent who has.continued to vouchsafe to us the eminent blessings which surround us, and who has so signally crowned the year with his goodness. If we find ourselves tncreaseing, beyond example, in numbers, in'&trenglh, in wealth, in knowledge, in very thing which promotes human and social happiness, let us remember our dependence for all these on the protection and merciful dispensations of Devine Providence. Since your last adjournment, Alexander AfeLeod a British subject, who was indieted for the murder of an American citizen, and whosa case has been the subject of a correspondence heretofore communicated to you, has been acquitted by the verdict of.an impartial and intelligent jury, and has, under the judgement of the court been regularly discharged. Great Britain having made known to this Government that the expedition which was fitted out from Canada for the destruction of the steamboat Caroline, in the winter of 1837, and which resulted in the destruction ot said hoat and in the death of an American citizen, was undertaken hy orders emanating from the authorities Aof the British Government in Canada, and demanding the discharge ol McLeod upon the ground that, if engaged w that expedition he did but fulfil the orof his Government, has thus been answered in the only way in which she could bo answered bv a Government, (he powers of ivhieli nrcMistributed among it* several departments by the fundainenta taw. Happily for tiie people of Great Bri tain as well as those of the United States lh(. onlv mode by which an individual ar. raigned for a criminal oflence before thi courts of either can obtain his discharge is hy the independent acti ?n of the judiciary. and by proceedings equally familiar to the courts of both countries. Jf in Great Britain a power exists in jfee Crown to cause to he entered a n >IIc prosequi, which is not the case with the Executive power of the United States upon a prosecution pending in a State court yet there, no more than Acre, can the chief executive power rescue a pri mmer ? _ from custodv without an order of the J # proper tribunal directing his discharge. The precise stage of the proceedings at which .such order may be.made is a matter ofinunicipal regulation exclusively and not to be complained of by any other *Govemmont. In cases of this kind, a Gov' eminent becomes politically responsible . i only when its tribunals are shown to ! have rendered unjust and injurious judgI ments in matters not doubtful. To the : establishment and elucidation of this J principle, no nation has lent its authority more efficiently than Great Britain. Al exander McLeod having his option either j to prosecute a writ of error from the decicision of tho Supreme Court of New York which had been rendered upon his appli. 1 cation for a discharge, to the Supreme > Court of the United States, or to submit j his case to the decision of a jury, preferred ; the latter, deeming it the readiest mode ! of obtaining his liberation; and the result ! has fully sustained the wisdom of his ! choice. The manner in which the issue j submitted was tried will satisfy the En glish Gvernment that the principles of justice will never fail to govern the enlightened decision of an American tribuj nal. I cannot fail, however, to suggest I to Gongress the propriety, and in some ! degree the necessity, of making such pro1 visions hv law, so far as they may conj stitutionally do so, for the removal at ; the option of the party, of all such cases as mav'hereafterarise and which may involve | the faithful observance and execution of our international obligations, from the J State , to the Federal Judiciary. This Government, by our institutions, is charI ged with the maintenance of peace and I the preservation of amicable relations with the nations of the earth, and ought to possess without question, all the reasonable and proper means of maintaining the j one and preserving the other.' YVhi 1st tjust confidence is felt in the Judiciary ol th<* States yet this Government ought to be competent in itself for the fulfilment of the high duties which have beendevolvedjupon it under the organic law, by the States themselves. In the month of September, a party of armed men from Upper Canada, invaded j the territory of the United States, and forcibly seized upon the person of one Grogan, and under circumstances of great harshness, hurriedly carried him , i i beyond the limitsot the united oiaies, and delivered him up to the authorities of ! Upper Canada. His immediate discharge j was ordered hy those authorities, upon the | facts of the case being brought to their, j knowledge?a course of procedure which ( was to have been expected from a nation with whom we are at peace, and which was not more due to the rights of the United States, than to its own regard for i justice. The correspondence which passed between the Department ofState, and | the British Envoy, Mr. Fox, and with the Governor of Vermont, as soon as the facts had been made known to this Department, are herewith communicated. ; I regret that it is not in my power to make known to you an equally satisfac- i j torv conclusion in the case of the Caroj line steamer, with the circumstances connected with the destruction of which, in December, 1637, by an armed force fitted out in the province of Upper Canada, you ; are already made acquainted. No such j ; atonement as was due for the public ; wrong done to the United Slates by this j invasion of her territory, so wholly irre- j concilable with her rights as an indepen- . , dent power, has yet been made. 1 n the j view taken by this Government, the in- j i nuirv whether the vessel was in the era- j J plovmentof those who were prosecuting j an unauthorized war against that pro- j j vince, or was engaged by the owner in the ; business of transporting passongers to and i 1 from Navv Island, in hopes of private ' gain, which was most probably the case, ! in no degree alters the real question nt issue between the two governments. This Government can never concede to any foreign Government the power, except, in I a case of the most urgent and extreme necessity, of invading its territory, either I to arrest the parsons or destroy the prop. ertynf those who may have violated the municipal laws of such foreign Government, or have disregarded their obligations arising under the law of nations. The territory of the Unitod States, must i he regarded as sacredly secure against all I such invasions, until they shall voluntarii ly acknowledge their inability to acquit themselves of their duties to others. And in announcing this sentiment, I do but affirm i? principle which no nation on earth ' would be more teady to vindicate at all j hazards, than the people and Government .ofGreat Britain. j If, upon a full investigation of all the facts, it shall appear that the owner of the Caroline was governed by a hostile intent, or had made common cause with tiiose who were in theoccupany of Navy Island, then, so far as he is concerned, j there can he no claim to indemnity for I the destruction of his boat, which this Government would feel itself bound to pros. | ecute, since he would have acted not only I in derogation of the rights of Great Bri] tairr, hut in clear violation of the laws of j the Uniied States; but that is a question | which, however settled, in no manner in, volvps the higher consideration of the i violation of territorial sovereignty and I jurisdiction. To recognise it as an ad| missihle practice that each government, in its turn, upon any sudden and unauthorized out.break, which, on a frontier, the extent of which renders it impossible j for eiiner to have an efficient force on every mile of it, and which out-break, J therefore, neither may he able to suppress in a day, may take vengeance into its own : hands, and without even a remonstrance. ; and in the absence of any pressing or j overrulling necessity, may invade the ! territory of the other, would inevitably lead to results equally to he deplored by both. When border collision* come to receive the sanction, or to be made on n the authority of either Government, gen- tl era I war most be the inevitable result, n While it is the ardent desire of the Uni- tl ted States to cultivate the relations of b peace with all nations, and to fulfil all the i h duties of good neighborhood towards those I d who possess territories adjoining their j p own, that very desire would lead them to deny, the right of any foreign power to in- e vade their boundary with an armed force, t The correspondence between the two u Governments on this subject, will, at a c future day of your session, be submitted I: to your consideration; and in the mean v time, I cannot but indulge the hope that i che British Government will see the pro- ? priety of renouncing, as a rule of future [ action, the precedent which has been set in the affair at Schlosser. \ I herewith submit the correspondence t which has recently taken place between r the American Minister at the Court ot I St. James, Mr. Stevenson, and the Min- t ister of Foreign Affairs of that Govern- ( mcnt, on the right claimed by that Gov- t ernment to visit and detain vessels sailing I under the American flag and engaged in i prosecuting lawful commerce in the Afri- i can seas. Our commercial interests in I that region have experienced considerable i increase, and have become an object of i much importance, and it is the duty of I this Government to protect them against i all improper and vexatious interraption. | However desirous the United States may be for the suppression of the slave trade, 1 they cannot consent to interpolations in- i to the maritime code, at the more will and i pleasure of other governments. We deny < the right of any such interpolation to any i one, or nil the nations of the Earth, with- i out our consent. Who claim to have a voice in all amendments or alterations of that code?and when we are given to understand, as in this instance, by a foreign i Government, that its treaties with other nations cannot he executed without the estahlisnment and enforcement of new principles of maritime police, to he applied without our consent, we mu-t employ a I _ _ - - ! - t _ | _ . _ language nenner equivocal, or susceptible of misconstruction.?American citizens prosecuting a lawful commerce in I the African seas, under the flag of their i country; are not responsible for the abuse or unlawful use of that flog by others; nor i can they rightfully on account of any such alleged abuses, belntorrupted, molested or detained while on'the ocean ; and if thus molested and detained, while pursuing honest voyages, in the usual way, and violating no law themselves, they are unquestionably entitled to indemnity This Government has manifested its repugnance to the slave frade, in a manner which cannot be misunderstood. By its fundamental law. it presscribed limits in point of time to its continuanea; and against its own cilifceOfo, who might so farforget the rights of h iimanity ns to engage in that wicked traffic, it has long since, hy its municipal laws, denounced the most condign punishment. Many of the States composing this Union, had made appeals to the civilized world for its suppression, long before the moral sense of other nations had become shocked by the iniquities olf the traffic. Whether thijs Government should now enter into treaties contninining mutual stipulatioas upon this subject, is a question , for mature deliberation. Certain it is that if the right to detain American ship on the high seas can he justified on the [?lea of a necessity for such detention ; nris.ng o'ut of the existence of treatise between other nations, the same plea may be ?i ? i i i L.. it. ... e.vienci-ea ana eniargeu i?y new angulations of new treaties, to which the United States may not be a party. This Government will not cease to urge upon that of Great Britain, full and ample remuneration for all losses, whether arising from detention or otherwise, to which American citizens have heretofore been, or may hereafter be subjected, by the exer. ; cise of rights which this Government cannot recognise as legitimate and proper. Nor will I indulge a doubt but that the sense of justice of Great Britain will constrain her to make retribution for anv ! wrong, or loss, which any American citi-1 zei), engaged in the prosecution of lawful j commerce, may have experienced nt the | braids of her cruisers, or otbor public nutUorities. This government ot the same M/ill mtnv nrt Aifirt tn nrovent its ! citizens, if*there be any so disposed, from prosecuting a traffic so revolting to the feelings of humanity. It seeks to do no more than to protect the fair and honest trader from molestation and injtry; but while the enterprising mariner, engaged in the pursuit of an honorable trade, is entilled to its protection, it will visit with condign punishment others of an opposite character, I invite your attention to the existing laws for the suppression of the African slave-trade, and recommend all such alterations as may give to them greater force and efficacy. That an American flag is grossly abused hy the abandoned and profligate of other nations, is but too probable. Congress has not long since, had the subject under consideration, and ils importance well just ties renewed and anxious attention. I also communicate herewith a copy of a correspondence between Mr. Stevenson ] and Lord Palmorston, upon the subject I ? ? tko Qnnfhiipn SO IIIlLTfMIII" IU "rvBiui wi lilt, uuuuiv.1 > D States, of the rice duties which resulted honorably to the justice of Great Britain, and advantageously to the United States. At the opening of the last annual session the President informed Congress of the progress which had been made in negotiating a Convention between this Government and that of England, with a view to the final settlement of the quosof the boundary between th^ territorial limits of the two countries. 'I regret to say that little farther advancement of the object has been accomplished since last year f hut this is owing to circumstances ; * o ways indicative of any abatement of g ie desire of both parties, to hasten the a ogoliation to its conclusion, and :o settle w be question in dispute as early ai possi- w !e. In the course of the session it is my ope to be able to announce some further agree of progress, towards tho accotnlishinent of this highly desirable end. The commission appointed by this gov- . rnment for the exploration and survey of " he line of boundary separating the State a >f Maine and New Hameshire fiom tho I' :ounterminious British Provinces is, it is h telieved, about to close its field labors, and C 8 expected soon to report the results of t< ts examination to the Department of g State. The report, when receded, will jj ie laid before Congress. s The failure on the part of Spain to pay, j vith punctuality, the interest due under he Convention of 1834, for the settle- ^ nonl nf rlnims between the two countries | las made it the duly of the Executive ^ o call the particular attention of that c jrovemment to the subject. A disposi- e ion has been manifested by it, which is * iclreved to be entirely sincere, to fulfil ts obligations in this respect, so soon as a ts internal condition and the state of its 9 inanr.es will permit. An arrangement t s in progress, from the result of which, it ( s trusted that those of our citizeis who lave claims under the Convention, will, ? it no distant day, receive the stipulated , payments. | A treaty of Commerce and Navigation , with Belgium was concluded and signed , at Washington on the *29th March, 1840, | and was duly sanctioned by the Senate | af the United States. The Treaty was j ratified by his Belgian Majesty, but did , not receive the approbation of the Bel- | gian Chambers within the lime limited by ( its terms, and has, therefore, become void. This occurrence assumes the graver aspect from the consideration that in 1833, a Treaty negotiated between the ( two Governments, and ratified on the j part of the United Stales, failed to be rat | ified on the part of Belgium. The represcntative of that Government, at Washington, informs the Department of State that he has been instructed to give ex- , planations of the causes which occasioned delay in the approval of the late treaty by the Legislature, and to express the regret of the King at the occurrence. JFThe joint commission under the Convention with Texas, to ascertain the true boundaiy between the two countries, has concluded its labors: hut the finnl report of the commissioner of the United States has not been received. It is understood however, that the mercdian line, as traced by the commission, lies somewhat farther East than the position hitherto generally assigned to it, and, consequently, includes in Texas some part of the territory which had been considered a9 belonging to the States of Louisiana and Arkansas. The United States cannot but take a deep interest in whatever relates to this young, hut growing Republic. Settled principally by emigrants from the United States, we have the happiness to know, that the great principles of civil liberty are there destined to flourish, under wise institutions and wholesome laws ; and that through its example, another evidence is to be afforded of the capacity of popular institutions, to advance the prosperity, happiness, and permanent glory of the human race. The great truth, that Goveminent was made for the people, and not the people for government, lias already been established in the practice and by the example of these United States; and we can do no other than contemplate its farther exemplification by a sister Republic, with tiie deepest interest Our relations with the independent States of this hemisphere, formerly under the dominion of Spain, have not undergone any material change within the past year. The incessant sanguinary conflicts in, or between those countries, are to he greallv deplored, as necessarily tending to disable thern from performing their cuties as members of the community of nations, and rising to the destiny which the position and natural resources of many of them might lead them justly to anticipate, as constantly giving occasion, also, directly or indirectly, for complaints on tho part of our citizens who resort thither for purposes of commercial intercourse, and as retarding reparation for wrongs already committed, some of which are by no meansef recent date. " ^ . r p The failure ot ine uon gross 01 dcuidor to hold a session, at the time appointed for that purpose, in January last, will probably render abortive a treaty of commerce with that Republic, which was signed at Quito on the 13th of June, 1832, and had been only ratified on our part, but which required the approbation ofthat body, prior to its ratification by the Ecuadorian Executive. A Convention which has been concluded with the Republic of Peru, providing for the settlement of certain claims of citizens of the united States, upon the Gov- j eminent of that Republic, will be duly i submitted to the Senate. The claims of our citizens, against the , Brazilian Government, originating from ' XZj ~ captures, and other causes, are still unsatisfied. The United Slates have, however, so uniformly shown a disposition to cultivate relations of amity with that Empire, that it is hoped, the tmequivoca tokens of the same spirit towards u s which an adjustment of the affairs refer red to would afford, will bo given witiiou farther avoidable delay. The war with the Indian tribes on the peninsula of Florida has, during the last summer and fail, been prosecuted with untiring activity anil zeal. A summer campaign was resolved upon, as the best mode of bringing it to a close. Our brave officers und men who have been eu aged in that service, have suffered toils tl nd privations, and exhibited an energy, tr rhich, in any other war, would have al on for thcin unfading laurels. In de- 1 c' pite of the sickness incident to the cli- m late, they have penetrated the fustnes- ^ ?s of the Indians broken up their en- J* ampments, and harrassed them unceas- ^ igly. Numbers have been captured, , nd still surrendered, and have been | ransported to join their brethren on the inds elsewhere allotted to them by the 0 Government,?and a strong hope is en- je ertained that, under the conduct of the I a al la nt officer at the head of the troops a a Florida, that troublesome and expen- n ive war is destined to a speedy termina- tl ion. With all tr.e other Indian tribes, jq are enjoying the blessings of peace. n )ur duty, as well as our best interests, n rompt us to observe, in all our interourse with them, fidelity in fulfilling our ^ ngagements, the practice of strict jusice, as well as the constant exercise of :cts of benevolence and kindness. These ti ire the great instruments of civilization, c ind through the use of them alone, can 8 he untutored child of the forest be indu- ^ :cd to listen to its teachings. a The Secretary of State, on whom the t tcts of Congress have devolved the duty n )f directing the proceedings for the ta- 1 tinrr <.f th? Sixth Census or enumerations j3 " of the inhabitants ofthe United States will ' eport to the two flouses the progress of j hat work. The enumeration of persons c las been completed, and exhibits a grand c total of 17,009, 453; making an increase a over the Census of 1830, of 4,202,046 in- ' habitants, and showing a gain in a ratio * exceeding 32 1-2 der cent for the last ten . t years. t From the report of the secretary of the ( Treasury, you will be informed of the ( condition of the finances. The balanee j t in the Treasury ori the 1st of January I last, as stated in the report of the Sec re- j( tary of the Treasury, submitted to Con- ; gross at the Extra Session, was 8997,- | 345 03. The recepts into the Treasury, | during the first three quarters of this year, J from our sources, amount to $23,487,- I 072,52. The estimated receipts for the j fourth quarter amount to $5,943,095 25, amounting to $30,410,167 77; and ma- 1 king, with the balance in the Treasury, on the first of January last, $31,8097,512 , SO. The expenditures (or the first three j quartets of this year, amount to $24,734,326 67. The expenditures for the fourth quarter, as estimated, will amount to $7,290,723 72:?thus making a total of 832,025,070 70; and leaving a deficit to he provided for, on the first of Jan. next of about $627,557 90. Of the loan of $12,000,000 which was authorized by Congress at its late session, only $5,432,726 88 have been negotiatod. The shortness of time which it had to run, has presented no inconsiderable impediment in the way of its being taken by capitalists at home, while the some cause would have operated with much greater force in the foreign market. For - * i that reason the foreign has been resorted to, and it is now .submitted, whether it would not be advisable to amend the law by making what remains undisposed of payable at a more distant day. Should it bo necessary, in any view that Congress may take the subject, to revise the existing tariff of duties, I beg leave to say, that, in the performance of that delicate operation, moderate counsels would seem to ha the wisest. The Government, under which it is our happiness to live, owes its existence to the spirit of compromise which prevailed among its framcrs?jarring and discordant opinions could only have been reconciled hv that noble spirit of patriotism, prompted which conciliation and resulted in harmony, fn the same spirit the compromise bill, as it is commonly called, was adopted at the session of 1823. Whilo the people of no portion of the Union will ever hesitate to pay all necessary taxes for support of Government, yet an innate repugnance exists, to the impo sit ion of hurl hens not realiy necessary tor that object. In imposing duties, however, for the purposes of revenue. a right to discriminate as to tho articles on which the duty shall ho laid, ns well as the amount, necessarily and most proporlv exists. Otherwise the government would he placed in the condition of having to levy the same duties upon all articles, the productive as well as the unproductive. The slightest duty upon some, might have the effect of causing their importation to cease, whereas others entering extensively into the consumption of the country, might hear the heaviest, without any sensible diminution in the amount imported. So also the Government may he justified in so discriminaling, by reference toother considerations of domestic policy connected with our manufactures. So long as the duties shall he laid with distinct reference to the wants of the Treasury. 110 well founded objection can exist against them. It might be desirable that no such augmentation of the faxes should take place as would have the effect of annulling the land proceeds distribution act of the last session, which act is declared to be inoperafivo the moment the duties are increased beyond 20 per cent, the maximum rate established by the Compromise act. Some of the provisions of the Compromise act. which will go into effect on the 30th day of June next, may, however, be found exceedingly inconvenient jn practice, underany regulations that Congress may adopt. I refer more particularly to that relating to the home valuation. A difference in value of the same articles to some extent, will necessarily exist at ditFerent ports?but that is altogether insignificant, when compared with ie conflicts in valuation which are likely ) arise, from the differences of opinion ^ mong the numerous appraisers of merbandize. In many instances the estilates of value must be conjectural, and ius as many different rates of value may j established as there are appraisers, iiese differences in valuation may also 2 increased by the inclination which ithout the slightest imputation on their Dnesty; may arise on the part of the apraisers in favor of their respective por$af entry. f recommend this whole ?lb~ ict to the consideration of Congress, witfo single additional lemark. Certainty nd permanency in any system of govdrn-lental policy are, in all respects, emineny desirable; but more particularly is this rue in all that affects trade and coinjerce, the operations of which depend mch more on the certainty of their reurns, and calculations, which embrace istant periods of time, than on high ounties, or duties, which are liable to onstant fluctuations. At your late session I invited your alien* ion to the condition of the currency and ex. hanges, and urged the necessity ot adopting uch measures as were consistent with the onstitutional competency of the Government, a order to correct the unsoundness of the on#, nd as far as practicable the inequ<ies of he other. No country can be in the enjoy..lent of its full measure of prosperity without he presence of a medium ot exchange apiroximatiug to uniformity of value: . What is iecessary as between the different nations ?f the earth is also important as between the nhabitants of different pans of the same :ountry. With the first, the precious metals constitute the chief medium of circulation; md such also would be the case as to the ast, but for inventions, comparatively mod-' srn, which have furnished, in place of gold ind silver, a paper circulation. I do not pro" >ose to enter into a comparative analalysis pf he merits of the two systems. Such belonged more properly to the period of the intro. ^ lucticnofthe paper system. The specula- ^ :ive philosopher might find inducements to jrosecute the inquiry, but his researches could wily lead him to couclude that the paper sys* ;em had probably beter never have been introfaced, and that society might have been moch >a?>pier without it. ino practical naw* nan has a very different task to peribrflt. Fie has to look at things as they are?to take them as he finds tbem?to supply deficiencies, and to prune excess, as far at in him lien. The task of furnishing a corrective for derangements of the paper medium, with us, is almost inexpressibly groat. The power exerted by the States to charter banking corporations, and which, having boon carried to * great excess, has filied the country with, in most of the States, an irredeemabe paper medium, is to evil which, in some way or other, requires a corrective. The rates at which bills of exchange are negotiated between different parts of the country furnish an index of the value of the local substitute for gold and silvern which t*, in manv parts, so far depreciated as not to be received, except at a large discount, in payment of debts or in the purchase of produce It could earnestly be desired that every bank, not possessing the means of resumption, shoukk follow the example of the late United State* Bank of Pennsylvania, and go into liquidation, rather, than, by refusing to do so, to continue embarrassments in the way of solvent institutions. thereby augmenting tin- difficuIttes incident to the present condition of tin. gs. Whether this Government, with due regardi to the righ'* of the Stares, has any power toconstrain the banks either to resume specie payments, or to force them into liquidation, m an inquiry which will not fail to claim your' consideration. In vie* of the great advantages winch are allowed the corporators, not. among the least of which id^the authority contained in uio6t of their charters to make loans . to three times the amount of their capital,, thereby often deriving throe times as much in terest on the same amount of money M any individual is permitted by law to receive, mr W sufficient apology can be urged for a long continued suspension of specie payments.. Such suspension is productive of the greatest detriment to the public, by expelling from circulation the precious metals, and seriously hazarding the success of any effort that this Government can make to increase commercial* facilities and to advance the public interest*. This is the more to be regretted, and the indispensable necessity for a sound currency " 1 - * ittkan lira raltilAl uecomes inc nmrr u?<imieoi, ** ?? iVW?v.. on (he vast amount of the internal commerceof the country. Oft.hrf? we have no statistics, nor just data for'forming adequate opinion* But there can h? no doubt but that the amount of transportation coastwse by sea, and thetransportation inland by railroads and C 'mls, and by steamboats and other ra<?de8 of conveyance, over the surface of our vast rivers and immense Jakes, and the value of property carried and interchanged by these means,, form a general aggregate to which the foreign commerce of the country, large as it is, makesbnt a distant approach. In the absence of any controlling power over this subject, which, by forcing * general resumption of specie paymenis, would at encp have the effect of restoring a sound medium of exchange, and would loave to the country but little to desire, what measure of relief, falling within the limits of our constitutional compos tency, does it be become this Government to adopt? It was my painful duty, at your last session, under the weight of most solemn obv ligations, to differ with Congress on the measures which it proposed for my approval, and which it doubtless regarded as corrective of existing evils. Subsequent reflection, and events since occurring, have only served to * - ? ? ? Wftil amI ? ma/1 confirm me ir. (ne opinions mm viucuamcu and frankly expressed. I mint be permitted to add, that no seheme of governmental policy, unaided by individual exertions, can be available for amelioratingthe present condition of things. Commercial* modes of exchango and a good currency arebut the necessary means of commerce and in* tercoorse, not the direct productive sources of wealth. Wealth can nnly be accumulated (b by the earnings of industry and the savings of . frugality; and nothing can be more ill.judgsd than to look to facilities in borrowing, or to a redandant circulation, for the "power of die. charging pecuniary obligations. The country is full of resources, and the people ftiii of en* ergy; and the great and permanent remedy tor present embarrassments must be sought fa industry, economy, the observance of good faitb, and the favorable influence of timer In pursuance of a pledge given to yoq in my 1 last message to Congress, which pledge I urge as an apology for adventuring to present you the detals of any plan, the Secretory of the Treasury will be ready to submit to yoti, should you require it, a plan of finance which, while it throws around the public treasury reasonable guards for its protection, and rests on powers acknowledged in, practice to . ' *