Farmers' gazette, and Cheraw advertiser. (Cheraw, S.C.) 1839-1843, January 05, 1842, Page 234, Image 2
deposited with the Slates, trust funds,
Mud indemnities, ami the amount due
Irom Imnks which failed in 1837.) was, us
Minted in the re|><? t of the Secretary of
the Treasury submitted (o Congress on
the 3d day of June la?t $937,345 03
The receipts into the Trens.
urv during the first three
quarters of the present *
year amount to $23,467,092 52
Via:
F.otn customs $10*47 557 44
From lands 1,104,063 06
The remainder from
various sources treasury
notes included 11.515 472 02
The receipts for the 4th
quarter, it hi estimated,
will amount, to "* .$0,943,095 25
Making the*fofaI estimated
receipts for the year $30 410.167 77
i ,j
And, with the ^balance" ih
the Treasury ou the 1st
of January last, an ??g. ->*
gregate of- vv . '31 397 512 80
The expenditure* "for the
three first quarter* #ft ho
present y?Af'h? ve anion n-.
ted to " 824,731,340 97
The expenditure* .for the
|th quarter ,*rq estjrna- ... . v
ted, on data fumistfed >
by the respective departments,
at 7,290,7*22 73
Viz:
Civil, miscellaneous,
and foreign inter,
course ' . $1531.203 44
Military service 3.139.733 54
Naval service 4 1,900 500 80
Interest on loan 70,000 00
Principal and interest
on Treasury notes ' 505.183 95
Making 32.025 070 70
And leaving a tleficit to ho
provided for on th; first
January, 184*2 8627.557 00
It being essential that this deficit, ari.
uihg from the failure in .effecting more
than a portion of the loan authorized hv
Congress at its last session, should he pro.
vided for by means that might he at once
available, it is recommended that an im.
mediate issue of Treasury notes he author*
, to meet I he emergency.
II. (.// 'hr. Estimates of the. Public Rcoc
nue an I Expr'niilures for iftr i/r.ar 1 183.
Tne receipts for the year 184*2 are estimated
us follows :
From customs $19,200,000 00
(Arising from duties ac.
cruing in 1841, and
payable in 184:2 $3,400,005
From duties accruing
and payable in 1842 $15 600 00.)
Treasury n?des - * 50,000 00
Miscellaneous sources 15(1.000 00
19.200.000 oi)
From which deduct the estininfeii
deficiency ?>n
the first <>l'January 1842 6*27.550 Of)
Leaving this amount appli.
cahle to 'ho service of
the year 1842 18 57*2,440 10
The expenditures for the
year 1842, inchulin^
$7 000.000 for the re.
dcit.plion of Treasury
note#, are estimated at 32 701 010 78
Living to be provided for
this amount 14.*218.570 68
To meet the deficiency in the year
l>542t amounting to $14/218.570 08.it
is respectfully recommended to .Congress
I*) authorize?
1. An extension of the term within
which the residue, not yet taken, of the
loan already authorized shall he redeemutile,
amounting lo, say $6 500.000.
2. The re-issue of the Treasury notes
heretofore authorized by law, amo inting
to $5,000 000.
3. The balance still required, of $2.71
*.570 68. together with an additional
sum of $2,000,000, (a surplus flietnod
necessary in the Treasury to meet emergencies
of the public service.) to he supplied
Irorn imposts upon such foreign arficles
imported as may he selected, with
jln<? rvtrurA fn n rurid ro-it r ir f inn in amount
tu llut actual w.mls of the Government,
and a proj>er economy in it-"* adrninistration.
' "*
HI. Readjustment of the TariffUnder
this h?*ad the Secretary of the
Treasury, adverts to the change to be effected
hi the collection of imposts af'er
next June, according to the act of 1S33,
which requires cash payments, instead
of credits as have hitherto been allowed;
and he advises the continuance of this
provision of that act. He next adverts
f *
to the provision of the same act which
requires the impost* to be collected ad valoremu
or according to the value of the
1 C5
goods at the ports where they are en
tered. The Secretary prefer* specific to
ad valorem duties, and dwells upon the
difficulty of adjusting ad valorem duties
according to home valuation, on account
of the ever racy trig prices of the same
article in the rna'ket. and its different
J
values often, at different ports. Flo advises,
some change in- I he law to obviate
these difficulties.
Ditirimi tuition in favor of Miwi fcctmx.
On this head the Secretary wcite* as
follows:
But. in the second pla^e. if f'on^rcsv
should be of opinion either that homo
valuation is practicable, or that some
equivalent and proper substitute may be
mmmmmmmmmmmammtctsmmmtmmmmmmmmmmmm
' foundfor it, the undersigned will not di*. ?
guise his opinion that it cannot be regard- ?
! ed its wise, by any portion ot the country, ?
as a permanent system of policy, to aug- ?
[ ment the amount of revenue, when fur- I
ther exigencies may require such aug. i
mentation, bv raising duties on all ?
i articles, including those of absolute <
i necessity, t<? the lull extent of twenty per i
'cent., and preserving- that limit, at fhej?
j same time, as a.* fixed harrier against j
j higher duties on any article whatever, I
| eve i those of more luxury. Such a plan I
of revenue, if to be regarded as a 8"ltled t
system, appears to the undersigned to be ; I
unnatural and inconvenient, and such as 1
is not likeiv to promote the best interests i
of the country. |
" The probable effect of the future opera- j <
tion of the act of ly*33 upon the manufne. |
tures and mechanical trades of the conn, i I
try, particularly if no home vnlnatinn he :i
; established, and no equivalent for such ' <
home valuation found, gives rise to an I
inquiry too important to be overlooked,
j I? is fully acknowledged that all duties i
should bo laid with primary reference to
revenue, and it is admitted, without UcsU
tntion or reserve, that no more moneyshould
he raised, under any pretence
whatever, than such amount H8 is necessary
for an economical administration of
| the 'Government. But within these lini
lis nun h*1 incie.oniai 10 inn r>tiKini> ??
-such revenue a_> muv he absolutely nccessiry,
it is believed that discrimination
may ho maTj, and duties imposed in such
manner as that, while no part of th?
i country will suffer loss ?n inconvenience
' a most beneficial degree of protection wil'
! he extended to the Unor and industry o
| large masses of the people, wiiile the wind
country will ho rendered more prosperou
in peace, and infinitely stronger and bet
ter prepared if foreign war should comi
upon ns. The principle 01 discriminaltoi
I has obtained from the period or the foun
. dation of the f*overnment. In man*
! cases it may be found to he indispensabl<
j to the in'eresls of the revenue itself; am
if, in fixing a system of duties, it consists
with the best interests and true policy of
I the country so to apportion them among
j the various species of imports as to favor j
I our own manufactures at the same time
i that the revenue itself is benefitted, and
j no injustice done to any, it would seem 1
I proper and wise to reject arbitrary limits
I an 1 the idea of a forced and unnatural
uniformity. 1
The undersigned feels no difficulty in
l admitting that a duty of twenty per cent,
lad valorem, assessed upon the value of"
j imported articles in our own ports, would
1 in many instances be a rate sufficientfy j
J high for the benefit of the revenue, and al- j
!-o afford reasonable encouragement to 1
] home producers of the same articles. As 1
j fo those, therefore, the object of the art
J of 1833 will be accomplished, if its pro- 1
| visions for home valuation he carried out
j by Congress.' But he still supposes that |
there are several descriptions cf imported !
manufactures and produce, which would i
well bear a higher duty than twenty per <
rent, upon the home value, and fhusyield 1
j a greater revenue to the Government, J
! while, in regard to some of thein, it will '
i he found that, without such increased du-' I
| iv, tile labor of large classes, engaged in 1
1 producing similar articles, will he greatly j <
depressed, if not entirely supplanted. ! I
It is unquestionably true. and well j I
worthy of remark, that the act of 1833 ;
w is avowedly conservative in its objects ! I
and character; and while it was designed j '
i to rentove what was esteemed a grievance '
| * % . * '
hv one part of the country, it was n:tjt
i intended that the interests of any other '
: should be sacrificed by it. On the con- i J
j irarv. a reasonable security was intended 1
I for all. Its true spirit, therefore, will bo I
| but carried out by acting, under any new j1
...... . r ... ?..^ I iiiiK rufnrt^nnn to ! I
j MUiC <l| t imilll.-JHillvi#, niki! |<
; tho same gn at objects. and doing justice .
j alike to all. The great principle of that j
i art was moderation and conciliation, and ;
j this should never he lost sight of. But ;
j the measures proper and necessary to
i carry out that principle may be changed, I
J if the altered circumstances or the conn- '
1 try call for siich change, without any j
( departure from the principle itself. |
Nothing is more established bv our ex-1
. I
i perience, and the jxpertence of other.
! nations, than that the augmentation of i
j duties does not augment, in nn equal de- j
I gree, the mst of the article to the con- !
Isomer. In many cases it appears not to
; increase ttint x*ost at nil. Very often j
I the price lo the consumer is kept down, j1
r.ot withstanding an increase of duties, j '
I p.iitly hv the greater supply of the hom? j4
p eduction, and partly by the reduction of j'
the price in the foreign marked. It is i1
believed, indeed, thai there have been!'
cases in which the jo*nt operation of the 1
'two causes has occasioned price* to fall 1
, iower than they were before the increase '
1 of duties whs laid.
This re.-ult in the operation of trade (
jnnfl business might readily be traced to '
, its causes; but a full exposition of those '
j causes, a,nd the modes of their operation. 4
J would too jnucb swell this report. Sill* '
J rice it to say that, when an additional 1
j duty is laid on an article in a country in (
which that uilicit '* extensively con- 1
, suined. the burden always falls in part, '
and sometimes, as experience has shown. | *
altogether, upon the foreign producer, j The
foreign producer must sell; and if. '
i i:i the place of sale, he finds an article 1
produced on the spot which AOiues into J
aoMintagcous competition with own 4
* Ln fcUlII I '
oy reason 01 paying no
must sell, and* lor tlie sake of fining able; I
(o ?lo ir. lie must he content to bear the *i
burden of the duties himself. Tin# duty '
home hv I he foreign producer in such I
eases is Jikej (he charge for transports- 1
lion?it is something which is necessary *'
to i#rmg him into the market of compeliii'on.
Analogous instances occur in
thuneslic trade. The wheat-grower of
Indiana, who incurs heavy expenses in ^
conveying his dour to an Atlantic port,
ixpecta no higher price for it when it
irrive* there then is peio for flour of th?
(erne quality to producers in file iminodiHe
neighborhood. The coat of transpor* N
alion. therefore, doe* not operate en th
much to raise ih? price at the place of' ^
inle as lo dimmish it at the ptacebf piro.'
lection. Now, the greet lew which reg. " *
ulntcs prices, by dftinend and supply. h?
dernly observed in cases of foreign inrjortation.
as in this instance of domestic j
trade. The undersigned cannot forbear)10
to add, that vastly the greater proportion ) IV
if the agricultural population of the tJni. 1
ted Slates is obliged to relv mainly upon ci
the homo market for a sale of its products. t*
although a large part of thusc products b
[wheat, for instance) is such a* often ?
enters extensively into the consumption n
of the world. The quantity of flour and g
Indian corn exported from this country I ^
h altogether inconsiderable, in comparis- j p
hi with the quantity consumed in the f
large cities nnii manufacturing towns,
w'ich Pave either entirely grown up .or
added largely to their population under
(ho influence of laws of Congress, |>as*ed
since the end of the last war, upon do p
mestic labor and ind,.stry. The immense
interchange of products, nil being the re. 0
suit of labor, which now taken place he- 0
twecn the producers of subsistence and
the population above mentioned, showily
the advantage which ofie class 'is tfniltihel ^
?thor, and the essential iniportanco to
both of preserving their existing relations. 0
If the consumption of flour ami grain -in jr
lie manufacturing districts, aspecially-.p
he-North and East, decline, to thtit ex. 3
cnt there is an absolute loss to the wheat ,|
id corn-grower, since the quantity con. n
irned hv theni will find a market no. jf
vliere else. To sav nothing, in thi#con. ^
texion. of the incalculable importance of
\ home market to the producer of the
rreat article of cotton, and limiting his J(
remark"! to the grain-growers, alone, the I
indersigncd cannot hut persuade himself! j|
hat nil will sec and acknowledge the ^
.Treat value to that class of producers of ^
flio Northern and Eastern market?the ?
inly considerable market, indeed, which
s permanently open to them upon1 the jj
face of the earth. gj
So long as the policy of other countries r<
^hall continue to exclude the product* of
our agriculture from their ports, and thus n
deny to us the advantage of a fair reci. '
procity in trade, it would appear to he
equally the dictate of policy and of justice
to our People to secure to them, as J j
far as nmy be reasonably and proj?rrlv
lone, n market of consumption for their t(
produce in their own country. '
Inrrratc. of the Recmitc. a,
The undersigned is of opinion that the ^
condition of the Treasury and of the; #>
country demands an augmentation of the j
revenue. It cannot hut he the true poli. j(
L'V of the Government to extinguish the
amount of debt now existing as. soon as I ft
practienhle, and to avoid increasing it. j ^
The cruation of deht, by loans and other ^
resorts, for revenue to supply deficiencies
of regular income, cannot hut he reganied. f||
in a time of peace, as injudicious and oh. ^
|ectionahle. The generj.1 fcredit of the M
[iovernment, always good, has been great. s(
y raised, both at home and abroad, by jr
[he fact that it has fully paid off and di*. (^
harged the deht created by the Revnlu- c
lion and hv a subsequent war with Eng.
and, and wars with the Indian tribes.? ol
Flie preservation of this high credit is of ^
[he utmost importance. It must he the j |
necessary reliance of the Government. Lo
f, in the vicissitudes of human affairs,;^
sudden war should come upon us, requi- JT,
ring large and immediate expenditures. u(
Exact punctuality in the payment of ill- |
tuliilu th?. rL?l,t iihfill nmfmiie. and
?nnnv in' ........ ?
> Ol
its payment so soon as (he time of pav* ,
ment arrives, as well ns the known ability
arid honor anil of the Government, are the
means of inspiring that general confi- (*'
donee which shall at all times enable it to 111
jsc its cr? dil to the greatest advantage. I><
The estimated expenditures of the Gov.
srnmont for the coming year will exceed tl
its proimhle inenqne hy 814.218.570 68. w
Should Congress authorize a reissue of is
rreasury notes to the amount of 85.000.* n(
1)00. and the balance of (he loan he di.s* 0|
josi-.d of, there will remain a deficit ofj
2*2,718.570, for wh?ch provision must he '
made hy law. Rut it is not suppposed \
lhat Congress will deem it advisable to j ^
- - I n\
restrict (lie income of the Uovernmeni
to ihe precise amount of its expenditure*.
There outfit to he ;t surplus of at least ^
two millions, to meet unforeseen einer?enoies
in ihe public,service ; and, should m
;ven the proceeds of the sales of the pub.
10 lands he withdrawn from the Stales, a w
eferewe to the receipts fr un that sourer fti
n the last and present years will show ac
hat a deficiency in the revenue, to meet ^
he wants of the Government, must still ;,|
innin, - p,
The state of the nntionnl aflhirs, the
lisposition of the Governnionl. in which,! ^
I is believed, the People fully participate, i ^
r. mit tlw. ominfrv info ,n rrsnectable stair ;
. (
>f defence, and especially to support and
Urengthen ttie military marine, all appear Sl
o surest the propriety of such increase '
?f duties on articles carefuily selected as.
vhile the amount shall not hear hard on
ndividmtls, by limiting their customary w
njovrnents, nor oppress nor derange the pi
(en era I business ot the country, shall yet th
aipply the Treasury, not extravagantly I sn
?r excessively, but yet reasonably and
list I v for ail the great purposes of national ty
lefence. Economy, that great public
rirtin*, which is so essentially proper to be
rractised by republican Governments, |
kvouid be but half exercised if, while on ^
be one hand it avoids nil unnecessary exMefiditiircs
it does not on the other make a
easonable and judicious provision for
uich expenditures its are unavoidable.
All which is respectfully submitted. J)r
W. FORWARD, sh
Secretary of ifu: Treasury. t<;
Hon. J. White, c;i
SyecUt House of Rcyrcsenta.'ijcs*
_ ^ f
* ^ ' . '
SHIPWRECK. 81,1
Geo '/ton. I)c\ 29. in*
TliencUr. Swann. W. P. Leah f?M?- j C.
of folk bound to Knighton, Jamaica, on j Z.
ic JiOfh iiwt. when scudding across Ihe J.
ilphstream, in b^nv v weather suddenly Ot
>rung a leak, and in seven uiindte* filled-, H(
> the deck, and obliged the crew to lake Al
> the. rigging for the preservation of E?l
ieir lives, where they remained five days W
rJ. nights in the. greatest suffering, ex- Arised
to the severity of the elements.? 1 ini
'hey succeeded in fishing from-the fore. 1 <?<
istlo a single ham of bacon, which sua J J.
lined them till they were fallen in with j J.
v the schooner Greenleaf, Gapt. Slee|>er j F.
-who safely landed the Captain and ! Jol
rew in this port on Monday last. The I.
wann, was loaded with shingles, staves
ml heading, and was owned"by Brown, as
otter, & Co. of New York. No insu.
. int. Observer.
FROM TIIR CHARLESTON MKRtU'RT. =
In the Legislature of South Carolinu.
The following resolution to reduce the I ^
nhlic debt was offered by Mr. Menwnin.
- - ~~.l .I'to. miiffh >tiw<*ii%iii<in wms Hna'Iv i ^
IT* #1VI?J nilCI IIMM'II w..?. ..
rdered to he laid on the table by a vote j isfi
I 46 to 42? | im
Resolved, That it is expedient that
lis Legislature should diminish as far a*
nasihie, the public debt of the. State;
)at no occassinn exists for a further1***"!* *fa
folate i!>loch, under the act for rebuild*; **ti
>2 the City of Charleston anr) that the j uai
resident & Directors of the Bank of the 1 "b
tate are hereby required to deliver up to j
le Comptroller General to lie cancelled, J
II certificates otV.ock or other obligations ;
i their fioHKetjisinn. issued under the said
tct, which remain unsold. I (1"
__ , I Co
The following Protest was then prosen* **
id in behalf of the minority* : bo
The undersigned R-presentafives of tai
lie people of South Carolina do hereby in !
chalf of themselves and of the people
rhom they represent, solemnly protest a- Oi
ainst the order of the House of Repre* ! vo
tentative*, laving uj>on the table a resolu* <JC
i?>n to reduce the public debt, and con*
idering ihe said ordar as equivalent to a
:jection of the Resolution, they beg leave j a.a
sspectfully to enter their solemn protest j ^
gainst such rejection for the following a*,
long other reasons. J Sf><
1. Because a public debt is a great j "r
uhlic evil, and ought to-l?o incurred only 'fl
i cases of great urgent necessity. . wn
2. Because the public, debt incurred J
i re-huild the City of Charleston was i
rcated te repair one of ihe greatest cal j an
initics which the State had ever suffered: j <fc
tcven und. r so pressing a necessity was (jf
illy permitted upon the express giiaran ^
>e of the City of Charleston against all " >s*
to the State. I ,N
3. B 'cause the President and Diree* J th?
irs of the Bank of the Slate, having j |,a
cen appointed the Agents of the S'ate to \
rl S , I f,fl
dl the public bonds Which might he re* '
uired to raise money to re-huild the Cit\
f Charleston, have already sold 626 'V
36, Dol. more than is fquirod for th< j,,*
iflercr.-i bv the fin; ; <Xc now propose to ^
i!l 332 795 Dol. more ; thereby inereas
tg the public debt one million of dollar* i,i
L-vond what wan required to rebuild the |>rt
iity of Charleston.
4. Because the public debt of abou
nc million of dollars which has been ap
1 11 t
lied to re build the City of Charleston. ^
liargos the State onlv with an interest
m * itl'l
f 5 j?er cent, as is secured 1st bv the in
iiidual bonds of the borrowers : 2nd by n (
mrtgage of earh Town lot with the j ,
raises >>4ii 11 thereon, covered by a policy
T Insurance; and 3diy by the guarantee
f the City of Charleston; wlicre.ts the ;|js
shl which the lesolution proposes to re- j ^
uce, charges the State with an interest
. i he
fsix per cent, and is to he loaned out to
(dividual*, subject to all the hazards of -vc<
inking operations. roI
5. Because the borrowing of money on jec
u: public credit to lend out to individuals nn
hether bv means of a bank or otherwise, ^jr
a policy dangerous to the best interests jjr
f the, Slate and contrary In the principles
r Republican Government.
I
0. Because the property of cvrv cifi- ru*
n of the coutitrv becomes pledgee! to an<
itV the public. debt, and when money an:
lised by means of such deht is loaned j rf,p
it to individuals, every citi/en of the
iate is virtually made the endorser o ^
he notesot'the favored few to whom the .
inney is loaned.. . n%
7. Because the Bank of the Slate. l?ra
hen first est ihlished* was fused upon the
nds which the State had acquired as ?hc
:tual capital, the loss, upon which, coll
Tough hanking operations, could onl\ I ^
feet such capital without injury to the
ihlic treasury: hut the new policy, now j Ul
noosed. of raising money for the Rank j s,,c
I V/
increasing the public debt, involves i
ie Sinte treasury in all the casunlities ;
id danger of banking operations, and in
diversion of that great principle avowed -S'?M
/ the .Stale, of keeping the public trca.! 1
try independent of hanks. Tlf
8. Because the great facility with *"n
hich money can bo raised upon the i ,,,c
ihlie credit, has a tendency to seduce |
in public servants from their duly, and!
i confer upon those who lend out the i
oney, a secret and dangerous control add
rer the councils of.thc State. j .??i
8. Because the experience of the Bank ! u
'the State has proved that its profits!
ive been diminished as its capital hnsj.
ien increased: that for the last four years,' "j.n
u?n without reserving any fund to ne-et \ ^
tore losses, its average rate of profits,
is lieen only 51-2 per cent.; that 'he|^?
' ? (tin I fhp Sl;ifp ,
OpOSIllOM, im:n;n'itj ...... .... | j,jr
iouM borrow in ?nev at 6 per cent, to > (fa
nd cut ct 51.4 subject also to the usual (the
iMualitie?* of bunking) cunnoi Tail to re. j
iprt
i f
It in loss, which nm.it eventually be
ide good hy taxing the people. i
G. Nemminger, Paul Quattlehum, l
P. Herndon, H. H Thompson,
H. Adams, Thomas A Po|>e,
is Mills* J. Sheppard,
hiry Gaitdin, Wade S. Colli ran,?
lard, H. B-lin, C. B. Griffin,
I ward Frost, Atkinson,
in. T EMerbe, Willinin Atken,
G. M igralli, L. F. Rhame,
mes W. Walker, Jas. ('hesniit, Jr.,
o. Anderson, C. W. Dudley.
D. Wilson, J. Washington Rice,
A. A'ston, D-in'l. F. Jenkins, J
W. Davw, S. \1. Enrle,
tin Schniorle. J. Edwin Ware,
Wmgard, Rolwt S. Allison,
Henry Smith.
CIIERAW GAZETTE.
WEDNESDAY, Jaxuahv S, H42. j
The following is an extract from in- j
actions to postmasters issued from the [
st Office Department during its admin. 1
ration hy Mr. Kendall, and reneated
Aur thp ndtiiinufrntiiiii of the Present
.st Master General:
"A Postmaster mnv enclose money in ;
letter to the publisher of n newspaper, !
? pav the subscription of a third person,
nd frank the letter, if written or signed ,
V himself." f
. I
44 J. T." Next week. j
'Hie President's 44 B ?ard of K\che. [
er," seems not to suit either parly in j
ingress. \l bother it can l?e so modified j
to recive the support of a majority ol !
tii houses and the President is uocorn.
In the of Representatives of
no, resolutions have been adopted by a ,
le of 04 to 0 in invor of paying the j
hts of the State. j
ruprniatton in Arkansas.?The
iteof Arkansas, for some purpose-not
ited in any account which we have
m gave its Imnds into the hands of the
teal estate Rank," chartered by itself. 1
ic hank tnnsfered the bonds, in soine ,
iv. or pledged tln-m, to the "North :
oerican Trust and Banking Company," I
d tins Company sold theni to Hoili rd, !
Co. beyond the Atlantic.. The state,
at least the Governor of the state, now
jects to paying the bonds, because, as
alleged, its agent, the hank, disposed of
...? i mi,miliar It; the Knnk refuses tr>
... ............ .,
y them because, as it alleges, the com j
nv to which it entrusted them sold ,
jm improperly, and the holder* arc like. 1
to he defrauded out of the whole,
loiint. Toe following is an ex trueI
>ni the reply of Governor YklloI" Ar |
nsas to a letter on the subject, from tin j
. sent holders of the bonds;
i
"Rut it would he absurd to suppose, ant! |
u mistake the character of our people, !
vou Halter yourself that they will lame j
submit i(? bo taxed to pay bondsh\ j*o'.K
ited to stockjobbers to enable the hank
carry on her speculations, without lh? J
fhority of la w, and in express violation .
hor charter."
I
There is some such f?.!k as that Illinois j
o is about to repudiate her bonds, or j
uc part of fhi in. So we go. What 1
s result may he in less than h dozen !
urs, no one can now foretell. Will Ru.
lean Governments submit to their >ub- .
Is being thus swindled out of their 1
uiey by the sovereign states of this
lion? It is not to he ex pee ted. If
ilain applies to the Federal Govern- j
nt, it refers thern to the states concern, j
1 f thov are anolicd to they, hid Hefi
" I >
re, and perhaps return soinn instilling
<wer. Suppoj?o. then, Britain make*
risals hy seizing tiie cot ion of Miosis. ',
pi tin l in* high s(?ns. or I lie flour of'
liana or lllinios. in Canada, or even
ad?a one of these s rates, will the Fed.
I Government make itself a party to ;,
fraud of the slates bv interfering on 1
ir behalf? If it should, a war, of:
irse. is the result. Will the other pow- j
of Furope who are e<]uall) interested
h Britain look on as idle spectators in '
h a war? 1
* ?- ? * * t t/. liA mn/l/i t/? 1
\n nnie mime in- "Mgin i?? lf*- unnir,
Constitution. providing that any Slate ; i
ich shall refuse to pay her just debts, {
11 ipso facto he expelled from the j
ion, and tnen lie required to pay her 1
it a of any deht which may at the j'
ie be due froin the Federal Govern- I *
nt. '
TilK LK.WKN WORKING. |
rho following resolutions have been
ipted savs the New York Kvoning Post,
spirited Public meetings'' in ''various ^
inlies" of Indiana.
'Resolved, That it is the deliberate opht. ;
of tins meeting, that the Legislature
o.ir Stale should, at its mwt session,
;puMAT'S ALL STATE BONDS
which the Slate has not received bona
i consideration, and that the Legixla- j
e should solemnly revive to pay nei- '
r principal, nor interest, nor any part
reof, o f any such bonds.
Resolved, further. That it is the ex- 1
.33 de.?irc of ihia mooting; that the
next Legislature suspend (I ?e further pny*
merit of the S at?? Bonds both principal
nnd interest. until the SUtlt u better able
to pay; and thai the Leg uiaturt lay no 0
tax upon the people br,/ond u dial is nncestary
io defray the netl exyens,is of the State
Government
11 r.sit!red. That lite Internal Improve,
rnentsof thin State be >ol I to the higheat
bidder, at auction or puhl ic ?mtory, the
proeeeds to go. as far ax the f will, tunwiit
paving the public debt.
Resolved, That payment ought to he .
refuted of (lie suspended debt, and Ex*
Governor Noble called hon h*.
Kesoivrd That no mm r State hood#
be hypothrcat'd. alias ya rned, (or liftih'
more than half tbuir value, to raise money
to carry on useless work*! and run our : State
furl Iter into debt. . ~ ;
Resolved, That the salar ics of ?H public
officers in the statu ought to he irnm*dt,
atoly reduced to an econmiucal standard.
' Resolved. That a relief or stay la* far
tiro years. ou?h' to he pawd immediately
upon the assembling of t he Legislature,
an I that all debts, ju l aments, executions,
issuetl. or to ht issued, be stayed until the
?r*t nt' J/inutiru. 1844.
...... v - -Rp.to!rr<l.
That if tile Legislature does
not grant rulief at a virv larly day of I ho
session, that we will a 4-erithle at this piano
on Chris mas day. determined that mir
public officers, through force of pUMje. ,, t
opinion, shall resign ijieir different trust,*
reposed in th'-m by its."
Upon the above the \ew York Express
remarks as follow*:
The repudiation" prin-ipleof G.o#
IMcNutt, of >li.vi>sip ?i, just put forth,
we are pained to see, runs like wild.firo
among certain presses io the interior of
the State* we have named. It is presetted
as popular, that American Farmers shall
not sweat mid toil to pay debts to the n*.
hobs of England; and it is a degrading ^
thought, that the idea captivates hundred*
upon hundreds of otherwise honest mind*.
The Farmers, indeed, arc told, Lilt the**
on holts have swindled thoni out of their
bonds; that the plan 10cheat and defraud
them has been deliberate, and the 4nly
remedy, therefore, is repuditHion!
The argument* that respectable prestos
of the opposition, *mdi as th>* Evening
IV, and Phila elph a Pe?n*ylraiii*i?,
hav. put forth, to defend Cov. M-?S It . ,
in 1 * pudiatioo of a p.art f lie KotnH
of Mi-sissippi, many of the peases of tho
interior confound as a dof n<v of list
whole system of swindling. Tlx- ivtvtoruliftt
o'' that defence, admitting we tiny
ho. estly differ about the principle, r?f.
rupis ill* whole puNSir mind of (be oppife
sifion? 'Hie effect of it is to make swindling
a party cju -stion, and to rally what
is called the dcinocrncv*' upon the prineiple,
or rather to confound nomocracy
and general State swindling.' #
Let us he urid*-fstood, however, while
1 - -- ir
ne sow nil me niariu on mi* poiru. k
demagogue* mounting and successfully* <
riding flii* HoWiv obtain a temporary tm ,:
umph, amid the s; (tiering* of the People, tl,.in
the fHicm* breath that we sound the
alarm, hi; p;o? luiin nii abiding ami tin.
<! >iihtir?i^ co h'lenre in the ultimate n-cli.
tilde and in?* ghim-ss ol* the People of this
ciuin'rv. We helievr that in the etui .
every cent. prin< ipul ami interest of every
Sla c I'o :d hill he paid. Honesty at*
way?' triumphs in the end with a R puMi.
can People. Honor will prompt theSlates
when better ah!e to have (to iMit'
or claim Jell standing against th-m. After
all fi>o. the whole debt of'2tM> (Nl(t OfHl dot.
lars is hut a InHe for us as compared wilU
the ihdits and taxes of other nations. The .
Stales now the worst off have in them the
* eds of growth ant! progress sure gun ran.
tees of interest now loft unpaid."
The general ticket law of Alabam*,
for the election of member* of Congre* ,
has been repealed by the Legislature. 'His*
question had been submitti d to the people,
at the |tolls, and they decided by a largo
majorit. in favor of the repeal. Hero
wtffc li'grinia e instruction* from tho
people, mi J in a cnne whom th- y had not
previously bound themselves hy constitu*
lional restrictions. t
So common tins it become to park cut*
Ion fraudulently in Louisiana* Mississippi,
Find AlabaniH, that the Consul of the U*
S. at Havre, France, has addressed a let*
tor on the subject to the (Jovornors of*
these states, nt the request of tiie Cham-her
of Commerce of that rilv.
Dr. Willi am Whitk, of .Mecklenburg
N. C. was drowned on the 23d December
about 27 miles below Charlotte, ilk
grossing a creek, which had but a litlli*
n il I If before been crossed by hi* load* d
aagoiw. ti is supposed that hi* horse
(tumbled and threw him in the stream.
In the same county, a man named j1 ' .
Jamks Kay. froze to death, on the night
if the 2'2d. by exposure in a state of intuxication.
*" 1 1
*???? > t.r .J
Rhupk Island.? row atate m*mm H
be iu progress to a .specie* of RcvuWiof).
It iar still governed hy the rliartei granted ' \ ^
bj' t'hnrlesthv Second, in place- of a constitution.
Frequent attempts have been - .
Marie to procure tht calling *4* a popular .
convention hv the Legislature to adopt a.
constitution; but the Legislature never r'gave
its conswnt. An irregular move. "
ment was finally made on the auhject
among tie people, and delegate* were
f.?m IIIA I'liunliM K-i.it
OppOIIIICU ! ? ...mw-W? ?* ??w
assembled in convention some time Htu
ring 'hepa^t year, a Hit Irnnn.-d n cnnatMuliun
for the atate. Thk? constitution, ac#
%