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expedient, but your Committe were unanimous in recommending an Agriculturnl Survey of the State, and I will, here, briefly inentson its pu.port and advantages. An Agricultural survey, relates to the nature of the soul, particularly in refer-. enoe to the crops cultivated ; to the cli- j mate, with reference to the crops grown; > to tho number of acre cultivated; to th quantity of land rn wood, in pastura, in roads, or under water; to the objects of culture, the modes adopted, and the pro i.? 4 . . . / >1 I --'-J ? uncus; 10 manure; 10 livestock ot an xincis. j in their relative utility, for pleasure, Jla- j boor, food, and the dairy ; to dairy pro- j duco: to poultry, diseases of domestic j animals; to bees, orchards, gardens, farm buildings, farming impliments; to silk, and many miscellaneous subjects. Ihe, duty of an Agricultutal Surveyor, is, to ; visit every District and Parish in the j State; every principal farm or plantation, j 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 Massachusetts Legislature, " collect accurate information, of the state and condition of; the agriculture of the Commonwealth, j and every subject oonnected with it, point ( out the means of improvement, and make ! a detailed report thereof, with as much j exactness as circumstances will admit." j .Your Committee will add nothing further; to thes? details, than advert to the fact, i that every Executive Message, directs j the atten inn of the Legislature to this I ? ... t subject, but from a misguided spirit of c- | conomy, the call has, hitherto, been neg. j lected. It becomes us, now, to act with I independence, and prop our waning for-! tunes : policy requires, it, patriotism de-mands 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 be ! a means of developing and improving i her resources; retaining at home, her citizens and slave labour, and counteracting, in some measure, the effects of competition in her great 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 thou- ! sand dollars be appropriated for the ensu- j ing year, to said survey; and that the j iiovernor he specially 'charged with the1 selection of a capable person to execute the same. All of which is resnectfullv submitted, j Rorkrt W. Ropkr. Chairman. i rVuBSIDENTSMESSAGE At twelve o'clock yesterday the President of the United Slates transmitted to; both Houses of Congress the following Message; 1 . To the Senate and Ilousr. of Representatives of the United States : I In coming together, fellow.citizcns, to ? enter again upon the discharge of the du-1 ties with which the People have charged : us, severally, we find great occasion to; rejoice in the general prosperity of the j country. VVe -ire in the enjoyment of all; the blessings of civil and religious liberty. with unexampled means of education, knowledge, and improvement. Through the year which is now drawing to a close , peace has been in our borders and plenty 1 in our habitations; and although disease j has visited some few portions of the land \ with distress and mortality, vet in general the health of the People has been preserved, and we are called upon bv the high- ' est obligations of duty to renew our thanks ' and our devotion to our 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 ; increasing, beyond example, in numbers. | in'strength, in wealth, in knowledge, in j every thing which promotes human and! social happiness, let us remember our dependence for all these on the protection *nd merciful dispensations of De\ ine Providence. Since your last adjournment, Alexander. It ? I II *i' I .I * 4 1 I jlIcLiCfMi a nrmsn suojeci, wno was in- ; dieted for the murder of an American cit- . izen, and whose case has heen the subject of a correspondence heretofore communi- , cated to you, has been acquitted by thi verdict of an impartial and intelligent jury, j and bus, under the judgement of the court ' % been regularly discharged. Great Britain having made known to j this Government that the expedition i which was fitted out from Canada for the , destruction of the steamboat Caroline, in the winter of 1837, and which resulted in the destruction of said boat and in the ! death of an American citizen, was under-! taken by orders emanating from the au- j thorities a>f the British Government in! Canada, and demanding the discharge of McLeod upon the ground that, if engaged i in that expedition he did but fulfil the ordiers of his Government, has thus boon ; answered in the only way in which she i could tjfi answered bv a Government, the . powers of which nreldistributed among its i several departments by the fundamental j law. Happily for the people of (5 real Bri-1 tain as well as those of the United States the J oniv mode by which an individual nr. raigned for a criminal offence before the courts of either can obtain his discharge, is by the independent action of the jucli- ( ciary, and by proceedings equally familiar to the courts of both countries. If in Great Britain a power exists in j fhe Crown to cause to he entered a n >//<: prosequi, which is not the case with the! Executive power of the United States up-i on a prosecution pending in a State court ' yet there, no more than here, can the cJiief executive power rescue a pri,?.uerj ' wmmmmmmmmsmrnmmmpmmaBmmaBmrwmmmammmrm from custody without an order of the r< proper tribunal directing his discharge. tl The precise stage of the proceedings at e which such order may be.made is a matter V )finunicipal regulation exclusively and not ti to be complained of by any other *Gov- p Brnmont. In cases of this kind, a Gov. d Brnment becomes politically responsible. v only when its tribunals are shown to o nave rendered unjust and injurious judg- d ments in matters not doubtful. To the v Bstablishment and elucidation of this 1 principle, no nation has lent its authority ( more efficiently thari Great Britain. Al- f ixander MpLeod having his option either t< :o prosecute a writ of error frcm the deci- t vision of tho Supreme Court of Now York t ?vhich had been rendered upon his appli. p ration for a discharge, to the Sunreine . a Jourt of the United States, or to submit ii lis case to the decision of a jury, preferred :he latter, deeming it the readiest mode v )f obtaining his liberation; and the result t las fully sustained the wisdom of his S ihoice. The manner in which the issue i submitted wns tried will satisfy the En- r glish Gvernment that the principles of e justice will never fail to govern the en- i ightened decision of an American tribu- f nal. I cannot fail, however, to suggest c o Gongress the propriety, and in some t iegree the necessity, of making such pro- i visions bv law, so far as they may con- r i i jtitutionally do so, tor tne removal ai i he option of the party, of all such cases as ? mav'hereafterarise and which may involve I the faithful observance and execution of f mr international obligations, from the f State .to the Federal Judiciary. This t (*?vernment, by our institutions, is char- f ged with the maintenance of peace and t the preservation of amicable relatious ( with the nations of the earth, and ought ' 10 possess without question, all the reason- 1 ible and proper meunR of maintaining the I ?iie and preserving the other.' Whilst ( just confidence is felt in the Judiciary ol < th<* States yet this Government ought to ? :>e competent in itself for the fulfilment < ?f the high duties which have beendevol- [ ved^upon it under the organic law, by the ' States themselves. ' In the month of September, a party of 1 irmcd men from Upper Canada, invaded 2 lie territory of the United States, and t 'orcibly seized upon the person of one c irogan, and under circumstances of c jreat harshness, hurriedly carried him t )eyond the limits of the United States. s ?nd delivered him up to the authorities of t Upper Canada. His immediate discharge 1 vas ordered by those authorities, upon the s 'acts of the case being brought to their f cnowlcdgc?a course of procedure which * vas to have been expected from a nation with whom we are at peace, and which | vas not more due to the rights of the * United States, than to its own regard for 1 ustice. The correspondence which pas- J ied between the Department of State, and ? he British Envoy. Mr. Fox, and with the J governor of Vermont, as soon as the facts 1 lad been made known to this Department, ' ire herewith communicated. r I regret that it is not in my power to ? nake known to you an equally satisfac- I a ory conclusion in the case of the Caro- , P ine steamer, with the circumstances con. 0 lected with the destruction of which, in 11 \ _ I 1 I __ J / Hd-A.- J 1 /ecemoer, id.)/, ny nn armea iorce nuca >ut in the province of Upper Canada, you p ire alreadv made acquainted. No such j s itoneinent as was due for the public i?( vrong done to the United States by this j1 nvasion of her territory, so wholly irre- 0 :oncilable with her rights as an indepen- 111 lent power, has yet been made. In the 'r dew taken by this Government, the in- j * inirv whether the vessel was in the era- |c )!ovrnentof those who were prosecuting ^ in unauthorized war against that pro-j I /inee, or was engaged l?v the owner in the ^ jusiness of transporting passongers to and j * Tom Navv Island, in hopes of private jr :nin, which was most probably the case, j I n no degree alters the real question at is- jr me between the two governments. This r liovernment can never concede to any c foreign Government the power, except, in r \ case of the most urgent and extreme J necessity, of invading its territory, either s lo arrest the porsons or destroy the prop. 5 ?rtv of those who may have violated the A Municipal laws of such foreign Govern. 5 nent, or have disregarded their obligations ( irising under the law of nations. The territory of the Unitod States, must I no regarded as sacredly secure against all I aich invasions, until they shall voluntari- ( v acknowledge their inability to acquit ) ihernselves of their duties to others. And I n announcing this sentiment, I do but af- 1 lirin u principle which no nation on earth 1 ivo ild he more leady to vindicate at all ' vizards, than the people and Government ] if(iroat Britain. if, upon a lull investigation of all the 1 facts, it shall appear that the owner of * I he Caroline was governed by a hostile intent, or had inade common cause with ' those who were in theoccupany of Navy ! Island, then, so far as he is concerned, ' tln-re can he no claim to indemnity for I the destruction of his boat, which this Go- ^ vcrmnent would feel itself bound to pros- ! ecute, since he would have acted not only I in derogation of the rights of Great Bri- ' tainr, hut in clear violation of the laws of 1 the United States; hut that is a question ' ; i ? a- I 1 * wnicn, nowever semen, in no manner involves the higher consideration of the r violation of territorial sovereignty and 1 jurisdiction. To recognise it as an ad uiis-sihle practice that each government, ? in its turn, upon any sudden and unau- ' Ihorized out-break, which, on a frontier. * the extent of which renders it impossible for timer to have an efficient force on s every mile of it, and which out-brcak, * therefore, neither may he able to suppress 1 in a day, may take vengeance into its own * hands, and without even a remonstrance, y ind in the absence of anv pressing or ( jverruliiisg necessity, niav invade the I erritorv of the other, would inevitably s cad to results equally to he deplored by c loth. When border collisions come to ) BWI?I? WII HI. I M IIWaBIMIIIIIIHMIIMLi'llJ^mC nceive the sanction, ot to be made on n lie authority of either Government, gen- tl ml war must be the inevitable result, n Vhile it is the ardent desire of the 13 ni- tl ed States to cultivate the relations of t) eace with all nations, and to fulfil all the h uties of good neighborhood towards those d /ho possess territoriei adjoining their p wn, that very desire would lead them to leny.the right of any foreign power to in- e ade their boundary wi :h an armed force, t Che correspondence between the two u Governments on this s abject, will, at a c * n ..lit uture day ot your session, be submitted n o your consideration; and in the mean ii ime, [ cannot but indulge the hope that i he British Government will see the pro- S iriety of renouncing, as a rule of future t ction, the precedent which has been set o the affair at Schlosser. v I herewith submit the correspondence t vhich has recently taken place between r he American Minister at the Court ot t $t. James, Mr. Stevenson, and the Min- t ster of Foreign AfTuirs of that Govern- ( nent, on the right claimed by thnt Gov- t irnmcnt to visit and detain vessels sailing I inder the American f.ag and engaged in i irosecuting lawful commerce in the Afri- i , l :an seas. Our commercial interests in f hat region have experienced considerable i ncreass, and have become an object of i nuch importance, and it is the duty of I his Government to protect them against ? til improper and vexatious interruption, j iowever desirous the United States may >e for the suppression of the slave trade, 1 hev cannot consent to interpolations in- i o the maritime code, at the more will and i ileasure of other governments. W e deny ; he right of any such interpolation to any i >ne, or all the nations of the Earth, with- i mt our consent. Who claim to have a j /oice in all amendments or alterations of i hat code?and when we are given to unlerntand, as in this instance, by a foreign ; Government, that its treaties with other lations cannot be executed without the I jstablisnment and enforcement of new | )rinciples of maritime police, to be applied i vithout our consent, we mu-t employ a ! anguage neither equivocal, or suscep- i ible of misconstruction.?American citi- t sens prosecuting a lawful commerce in | he African seas, under the flag of their i sountry; are not responsible for the abuse I >r unlawful use of that flag by others; nor < :an they rightfully on account of any 1 mch alleged abuses, be Interrupted, moles- ' ed or detained while on'fhe ocean ; and I f thus molested and de taincd, while pur- < imnrr honest vova^es. in the usual wav. < r, - j o ' md viola'.ing no law themselves, they are I lnqucstiooably entitled to indemnity- I rhis Government has manifested its re- I jugnance to the slave ?rade, in a manner vhich cannot be misunderstood. By its i undainental law. it pcesscribed limits in >oint of time to its continuanea; and ajainst its own cilif.mjs, who might so far- ! > \ * o orget the rights of humanity ns to engage n that wicked traffic, it has long since, i ty its municipal Jaws, denounced the ; nost condign punishment. Many of the | States composing this Union, had made ! ppeals to the civilized world for its sup- I iression, long before the moral sense ot i ther nations h.ad become shocked by i he iniquities olf the traffic. 1 Whether this Government should now \ nter into treaties containining mutual j tipulation-s upon this subject, is a question ] or mature deliberation. Certain it is ' | hat if the right to detain American ship I ( .1 i . /*! . i I n tfie 'iigti seas can no jusnnca on uic lea of a necessity lor such detention ; ais.ng o'ut of the existence of treatise heween other nations, the same plea may be xtencled and enlarged by the new stipilatiocis of new treaties, to which the Unied States may not he a party. This jovemment will not cease to urge upon hat of Great Britain, full and ample re- 1 nimer.ition for all losses, whether arising ' "rom detention or otherwise, to which A- 1 nerican citizens have heretofore been, or | nay hereafter be subjected, by the exer- , :ise of rights which this Government can- j tot recognise as legitimate and proper. , ^Jor will I indulge a doubt but that the >ense of justice of Great Britain will con- , itmin her to make retribution for anv vrong, or loss, which any American citiseu, engaged in the prosecution of lawful jommerce, may have experienced at the iiwls of her cruisers, or other public nu- ! ho ri ties. This government at the same 1 11 ? 1 - - -i*? ... * 1 one win rei.tx no euori 10 pruvuiu ua citizens, ifthere ho 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 froin molestation and injn-y; 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 invito your attention to the existing laws for the suppress-on of the African slave-trade, and recommend all such alterations as may give to them greater 1 force and efficacy. That an American flag is grossly abused hy the abandoned ind profligate of other nations, is but too itrobable. Congress has not long since, had the subject under consideration, and , lis importance well just'fics renewed and mxious attention. I also communicate herewith a copy of i correspondence between .Mr. Stevenson ind Lord Palmerston, upon the subject >o interesting to several of the Southern ... i States, of the rice duties which resulted tonorably to the justice of Great Britain, md adv?ntageouslv to the United States. At the opening of the last annual seslion the President informed Congress of he progress which had been made in legotiating a Convention between this D 'xovernrm nt and that of England, with a ,'iew to tiio final settlement of the qucs. >f the boundary between th^ territorial , units of the two countries. " I regret to my that little farther advancement of the ( ihject has been accomplished since last | ,'ear { hut this is owing to circumstances # nWTBI I Jl >?1^?? o ways indicative of any abatement of g le desire of both parties, to hasten the a egoliation to its conclusion, and :o settle v be question in dispute as early possi- v !e. In the course of the session it is my s ope to be able to announce some further egree of progfess, towards tho accomlishinent of this highly desirable end. The commission appointed by this gov. f rnment for thi exploration and survey of 1 he line of boundary separating the State a f Maine and >*ew Hameshire fiom the 1 lounterminious British Protincesis, it is 1 lelieved, about to close its field labors, and ( s expected soc n to report the results of t ts examination to the Department of g State. The report, when recciied, will ; le laid before Congress. s The failtire on the part of Spain to pay, ^ vith punctuality, the interest due under he Convention of 1834, for the settle- ^ nent of claims' between the two countries las made it the duty of the Executive ^ o call the particular attention of that c jrovernment to the subject. A disposi- ( ion has been manifested by it, which is 1 iclieved to be entirely sincere, to fulfil f ts obligations in this respect, so soon as t ts internal condition and the state of its i inances will permit. An arrangement I 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 , it Washington on the 29th March, 1840, | md was duly sanctioned by the Senate J the United States. The Treaty was | 'atified by his Belgian Majesty, but did ( not receive the approbation of the Belgian Chambers within the lime limited by , its terms, and has, therefore, become void. This occurrence assumes the graver ispect from the consideration that in 1 1833, a Treaty negotiated between the , two Governments, and ratified on the part of the Uni:ed States, failed to be ratified on the part of Belgium. The repre?entative of that Government, at Washington, informs the Department of State that he has been instructed to give explanations of the causes which occasioned delay in the approval of the late treaty by the Legislature, and to express the regret af the King at the occurrence. ^FThe joint commission under the Convention with Texas, to ascertain the true boundaiy between the two countries, has concluded its labors: hut the final report cf the commissioner of the United States has not been received. It is understood however, that the meredian line, as traced by the commission, lies somewhat farther East tha n 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, but growing Republic. Settled principally by emigrants from the United States, we have the happiness to know, that the great principles of civil liberty ire 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 Government 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 the 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 greatly 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 the pari: of our citizens who resort thtlhor for purpose.-, of commercial intercourse, nnd as retarding reparation for wrongs already committed, some of which are by no meansef recent date. The failure of the Congress of Ecusdor 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, 183*2, and had been only ratified on our part, hut which required the approbation of that body, prior to its ratification by the Ecuadorian Executive. A Convention which has been concluded with the Republic of Peril, providing for the settlement of certain claims of nit izensofthc united States, upon the Gov- j eminent of that Republic, will he duly i submitted to the Senate. The claims of our citizens against the j Brazilian Government, originating from ' (Z O captures, and other causes, are still unsatisfied. The United States have, how- | ever, so uniformly shown a disposition to J cultivate relations of amity with that Empire, that it is hoped, the urieqiiivoca tokens of the same spirit towards u s which an adjustment of the affairs refer red to would afford, will bo given vvithou farther avoidable delay. The war with the Indian tribes on the peninsula of Florida has, during the last uimrner and fail, been prosecuted with j untiring activity and zeal. A. summer campaign was resolved upon, as the hest mode of bringing it to a close. Our brave olficcrs and meu who have been eu aged in that service, have suffered toils | nd privations, and exhibited an energy, | /hich, in any other war, would have j /on for them unfading laurels. In depite of the sickness incident to the cliaate, they have penetrated the fastneses of the Indians broken up their enampment8, and harrassed them unceas. ngly. Numbers have been captured, nd still surrendered, and have been ransported to join their brethren on the finds elsewhere allotted to them by the jovernment,?and a strong hope is enertained that, under the conduct of the gallant officer at the head of the troops n Florida, that troublesome and expenivewar is destined to a speedy terminaion. With all toe other Indian tribes, ve are enjoying the blessings of peace. )ur duty, as well as our best interests, - - -t _n ? )rompi us 10 ooserve in nu um ihki:ourse with them, fidelity in fulfilling our mgageinents, the practice of strict jusice, as well as the constant exercise of icts of benevolence and kindness. These ire the great instruments of civilization, md through the use of them alone, can ;he untutored child of the forest be induced to listen to its teachings. The Secretary of State, on whom the icts of Congress have devolved the duty of directing the proceedings for the ta* king of the Sixth Census or enumerations of the inhabitants ofthe United States will report to the two Houses the progress of that work. The enumeration of persons has heen completed, and exhibits a grand total of 17,009, 453; making an increase over the Censusof 1630, of 4.202,046 inhabitants, and showing a gain in a ratio exceeding 32 1-2 der cent for the last ten years. From the report of the secretary of the Treasury, you will he informed of the condition of the finances. The balance/ in the Treasury on the 1st of January | last, as stated in the report of the Secre- j tary of the Treasury, submitted to Con- t gross at the Extra Session, was 8987,345 03. The recepfs into the Treasury, during the first three quarters of this year, from our sources, amount to $23,487,* 072,52. The estimated receipts for the fourth quarter amount to $5,943,095 25, amounting to $30,410,167 77; and making, with the balance in the Treasury, on the first of January last, $31,3097,512 SO. The expenditures for the first three ' quarters of thisyear, amount to $24,734,326 67. The expenditures for the fourth quarter, as estimated, will amount to 87,290,723 72:?thus making a total of $32,025,070 79; 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 $5,432,720 88 have been negotiated. The shortness of time which it had to run, lias presented no inconsiderable impediment in the way of its l>eing taken by capitalists at home, while the same cause would have operated with much greater force in the foreign market. For 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 be necessary, in any view that Congress may take the subject, to revise the existing tariff of duties, I beg leave to say, thai, in the performance of that delicate operation, moderate counsels would seem to he- the wisest. The Government, under which it is our happiness to live, owes its existence to the spirit of compromise which prevailed nrnnnnr its fin (110 rs rrlHIT atld disCOf J o dant opinions could only have been reconciled by 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 neressarv taxes for support of Government, yet an innate repugnance exists, to the imposition of burthens not really necessary for that object. In imposing duties, however, for the purposes of revenue, a right to discriminate as to the articles on which the duty shall be laid, ns well as the amount, necessarily and most proporlv exists. Otherwise the government would be placed in the condition of having to levy the same duties upon all articles, the productive as well as the unproductive. The slightc-t duty upon some, might have the effect of causing their importation to cease, whereas others entering extensively into the consumption of the country, might bear the heaviest, without any sensible diminution in the amount imported. So also the Government may be justified in so discriminating, by reference to other considerations of domestic policy connected with our manufactures. So long as the duties shall he laid with distinct reference to the wantsof the Treasury, no well founded objection can exist against tfiem. It ini^ht he desirable that no such augmentation of the taxes 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 inoperative 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 dnv of June next, may, however, be found exceedingly inconvenient in practice, under any regulations that Congross 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 different ports?hut that is altogether insiguilicunt, when compared with ? ?i.. the conflicts in valuation which are likely to arise, from the differences of opinion A among the numerous appraisers of merchandize. In many instances the estimates of value must be conjectural, and thus as many different rates of value may he established as there are appraisers. These differences in valuation may also he increased by the inclination which without the slightest imputation on their honesty; may arise on the part of the appraisers in favor of their respective portsof entry, t recommend this whole subject to the consideration of Congress, witir a single additional temark. Certainty and permanency to any system of governmental policy are, in all respects, eminently desirable; but more particularly is this true in all that affects trade and commerce, the operations of which depend much more on the certainty of their returns. and calculations, which embrace distant periods of time, than on high bounties, or duties, which are liable to constant fluctuations. At vour late session I invited your attention to the condition of the currency and ex. changes, and urged the necessity ot adopting such measures as were consistent with the constitutional competency of the Government, in order to correct the unsoundness of the one, and as far as practicable the inequ<iea of the other. No country can be in the enjoy ment of its full measure of prosperity without the presence of a medium of exchange approximating to uniformity of value: . What m necessary as between the different nations of the earth is also important as between tiie inhabitants of different parts of the same country. With the first, the precious metals constitute the chief medium of circulation; and such also would be the caae as to the last, but for inventions, comparatively modern, which have furnished, in place of gold and silver, a paper circulation. I do not pro* pose to enter into a comparative ar.alalysis of the merits of the two systems. Such belong* ed more properly to the period of the intro. ^ ducticnofthe paper system. The specula* ^ live philosopher might find inducements to prosecute the inquiry, but his researches could only lead him to conclude that the paper system had probably bet er never have been intro* duced, and that society might have been much happier without it. The practical states-man has a very different task to perform. He has to look at things as they are?to takethem as he finds tbera?to supply deficiencies, and to prune excess, as far as in him lies. The task offurnisbing a corrective for derangecnc-nts of the paper medium, with us, ia almost inexpressibly great. The power exerted by the States to charter banking corporations, and which, having beon carried to great excess, has filied the country with, in inost of the States, an irr*decmabe paper medium, is an evil wh;ch, 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 va.'ue of the' local substitute for gold and silven which Is, 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, should follow the example of (he late United States 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 tlo- difficulties incident to the present condition of things. Whether this Government, with due regard' to the righ's of the States, has any power t<y constrain the banks either to resume specie payments, or to force them into liquidation, ? an inquiry which will not fail to claim your consideration. In view of the great advantages which are allowed the corporators, not among the least of which \9lhe authority contained in mo6t of their charters to make loans to threetiir.es the amount of their capital,, thereby often deriving throe times as much in terest on the same amount of money as any individual is permitted by law to receive, n<r W sufficient apology can be urged for a long continued suspension of specie paymentsSuch suspension is productive or?he greatest detriment to the public, hy expelling from cir? i cuiation the precious metais, ana seriously hazarding the success of ;?ny effort that thin Government can make to increase commercial facilities and to advance the public interoew. This is the more to be regretted, and the indispensable necessity for a sound currency" becomes the more manifest, when we reflect on the vast amount of the internal commerce of the country. Of thb we have no statistics, nor jiwt data for'forming adequate opinions. But there can ! no doubt but that the amount of transportation coastwise by sea, and the transportation inland by railroads and e mu's, I and by steamboats and other modes of conveyance, over the surface of our vast rivers and immense Jakes, and the value of property carried and interchange d by thes, me ins, form a general aggregate to which the foreign commerce of the country, large as it is, makes bnt a distant approach. . In the absence of any controlling power over this subject, which, by forcing a general resumption of specie payments, would at ence have the effect of restoring a sound medium of exchange, and would loave to the country but " * - 1?i..I little to riepire, wnai measure 01 rt-nci, ionium within the limits of our constitutional com potency, does it be become this Government to* adopt? It vvas 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 lor my approval, and which it doubtless regarded as corrective of existing evils. Subsequent reflection, and events since occurring, have only served to confirm me in the opinions then entertained and frankly expressed. I must be permitted to add. that no sehemeof governmental policy, unaided by individual exertions, can be available for ameliorating the present condition of things. Commercial,, modes of exchange and a good currency arebut the necessary means of commerce and intercourse, not the direct productive sources of wealth. Wealth can only he accumulated | by the earnings of industry and the savings of nnlkmrr r%ir\ ko m/iro ill 1! irUiJrtllljf, aiiu iiwunii- van uv ihuiv i?.jUUgvv than to look to fncilitiet* in borrowing, or to a redundant circulation, for the'power of dis. charging pecuniary obligations. The country is full of resources, and the people full of energy; and the great and permanent remedy lor present embarrassments must be sought In industry, economy, the observance of good faith, and the favorable influence of time.. In pursuance of a pledge given to yon in my 1 last message to Congress, which pledgo I urge as an apology for adventuring to present you the deta Is of any plan, the Secretary of the Treasury will be ready to submit to yon, should you require it, a plan of finance which, while it throws around the public treasure reasonable guards for its protection, and rests 011 powers acknowledged iti practice to exist