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er rate to provide Ike revenue neccs- < fc'.-iry to an economical administration of Crovcennicnr. The third secmon, vvhich ! - . embodies rr.o.it of the great principle*, of the act, i? in the-o wordy: \Skc. 8. -And be il further enactrdyThat, tintd the thirteenth tia\ of June, one thousand eight hundred and forty-two, trio duties imposed by exiting, laws, as this act, shall" remain nnd ^;.V(Hitintic to he collected. And, from 0116^ tad after the day last aforesaid, all duties i^.uu hnpoft* shall bo cellecled in ready mouev; and alt credits now allowed by ' Ja?y* in ihe payment of d itics, shall be, '*ad hereby are, abolished ; and such dutteKshall be laid for the purpose of raising ^T fcucli revenue as rnav be necessary to an ^tcoiiomieai administration of the Gov- . S^^y$rnment; awl, from and after the day 1<K2 a (ores; iid, the duties required to lie ^ paid by laws on goods, wares, and merfchafldise, shall ho assessed upon the Val. ^(j'b thereof at the port wfiere the same sHatl.be entered* under such regulations ' Virw'tnay lie prescribed by law." X ^ bat is the meaning of this language? j Jhig^ar?-"nitv thing he mor-e explicit or less HBtatouniSfoiieejU'iin 7 it contains two t ;d i?ystyns? 'foe first is, that tln-re shall J*- eb^ioiniCtt! adnumstration of the G v<?ru/wem^ no waste,.no extravagance, lift Kq^nnO'TfnTf ??i me puour money. i admit th-s obu|h*4ion, in its fullest furor, to nil its length a"4d breadth, and I trust fnnt my friends, wTOi or without my nid, vMtiVnli'd i?, in lelterSuid spirit with the . ;o/,v( perfect fidelity^ f?*?t tiic second i ' obligation is noicss bfcdmg and iinpern] : tjvp; and that i-vthtmpuch duties shufl b< hiid as may be necefyirv to raise >-uck . 4^.. revenue ns *s requisite1*} un eoonooncnl 1 cdnfti.:?irniion of the Government. The i.ojrce of the revenue^ denned ano pre- ^ ncribwd-? the foreign imports, to the exclu. jagg *;on ail other hourees.*W\'ie amount, from the iiature'of fhin|^,hct?td not be specified; j tut v/hatever if may$?e, t>e it large or: nrhifl, n Vowing lib tdicome be!ow> or re- ; <q'i?rii:g that wa ttin^d go beyond twenty per cenf. that amojfiul is to raised. i contend, thewfore, with entire confi. ! deuce, that it is perfectly consistent with the provisions-?V the compromise act to impose* dutiesdno any amount whatever, thirty, fortyf or more percent., subject to the aidplTconditioi) of an econu.u-wui a?j of the (wovernmbiit. What pre the other principles of the ; v^n^t ? T)t??y,*thWeY* the principle that a (fJ vaJ^rcpi doty shall prevail and be ! in tory* at ell times. For one, I am wil. to a'ude by that principle. T lie re tue'cerfca n vague notions allo.it as to thr j 1 . utility and necessity of specific duties j end discrimination.'', which lain persua- i . ded arise from a want of a r?ght under, y- . '*sNJii'd:t?g of the subject. We have had the cd vulorrm principle practically in j f rcv cvt r a:t!ce tttc compromise an was c and there h*.* been no difficulty j . hi ttdT?:ni*ftvr?lng th-: duik-s of the Tresis, v : u, > *?n *hnt principle; y* It~?ns necessary first to*r.scer(ain the j: - vsIhc ?t" the good*, aiul then to impose the i i lly upfwi them; und, from the com. . mencement of the act to this day? the ad j i'valorem principle has been substantially I in operation. Compare the diffeience i } . between specific and the ail valorem sys- ' V fpm r?f duties, ?rid I maintain that the v- v latter is iiuftly entitled to the preference, i f.. The one principle declares that the duty | (dr. r" jmid shall he upon the real value of the i article taxed ; the specific principle im- ' v.; poacs a n equal (to IV on articles greatly; unequal 4n value. Codec, for example, ' % .(and it is an article which always sug- . itse lf to my thoughts.) is one of J t!je'aructa> on which a 3|>eciiic duty has i Jxn:n It-vied. Now, it is perfectly well ( II^F-'Jvnpwn that the Mocha coftbe is worth at ; Tha?jt twice an much as the coflce of St. U" -Domi.oiio or Cuba, yet hoth pay the same j <! ?tv. The tax has no respect to the rVnjttr, hut is 'arbitrarily levied on all ar- . "" tides ? ! a --pacific kind alike, however v;t- j ^rlousanq unequal may be their values.? I sny that, tn theory, and according toevery sound principle of justice, the ad ^{ . valorem mode of taxation is entitled to i the pre fere nee. There is, i admit, one Sgjjpp ohjt-ction to it: as the value of an article \ u a matter subject to opinion, and as j opto ions will ever vary, either honestly . . . . _ i - i-vi i : _ - or iraunuii'im}, utcrj is home uuncuiiy in presenting frauds. Hut, with the hcnv? ' \ .. . v?]tintion proposed by my friend from ?*' U'i?Kh>t Island (Mr? Simmons,) the ad va- , -lormn system cart be adopted with all ?y*r- practical safety; and will he liahic to those 'C; ; chances mdy of fraud which are iiicwta- ( {jif. yndi-r nnv and every .system, i Again-, vvj?Ht has been ths fact from ! the origin of.the G'overniner.t until now? ' The nruclos from which the greatest1 amount of revenue lias been drawn, such ' ' -"?S <" 11 r ' woomns, linens, silks, cottons, wor.s- ; % ^ tc.d.s, arid.- a few others, have ?l' been taxed on the ad v.dore/n. principle, ami j ti.nvz. Ii'o^ hfil>n tin in tli/1 .Iii.rn ,' > v ""i't II" " "Milium la, nag Uj?tI at ',0x' tion. I holievr, upon the wliolo, that it *r>-;? the )??>t mode. I believe (hat if wo j hflop: an*jd rate Qdiaio enL, wiieiever it ran P. v- Iw dun*. tli e revenue will l?? subjected to rfcW* r irattdv thin toe injustice and Iraudu inri<i 'fit lu'epeciiic Jufifk One ot the most pro. hSc hjuirccfc of ihe violation of our revenue - iiiw j? hj? been, as every body know/-', the ef- ; . * . f,,rr tu gel in goods of a finer quality aiu- higher v^,1ue admitted under the lower rate of ctiity ' ? - 't? ., _ , ?f.__ i V. required for umen/i s iuwrr *ame, m?. V honorable gent email from Ne* Hampshire \ ( \ir. WfAidhursJ and the honorable "Senator \ Jrufn N?v% York J Mr. Wright) both well V ktfcjiv rhls. Hut it tiii duty wa i laid ad valorem ' re could he W? friotiie for huch an effur\ .fraud, in ft* .'present for.n, would have | if ?* ?ho have; ?\ - . , - - . a Scottish member in the House of Com- | t moos, must perceive, they seein to be giv- i i wg up specific duties, and the tendency j in the public mind appears to he, instead j ! of having a variety of specific duties and < a variety of ad valorem duties, to have * one permanent fixed rate of duty for all I articles. I am willing, I repeat, to ad- ; here to this great principle as laid down i in the compromise act. If there be those j who suppose that, under the specific form j ( of duty, a higher degree of protection can I ( J *?-- I ? -c. i? i- i i ue securea man unuer me muoi humo, * ; j would observe that the actual measure j. of protection does not depend upon the | form but on the amount of tho duty which i is-levied on the for- ign rival article. , Assuming that we are to adhere to this principle, then every one of the leading principles of the same act can be ad- ( hered to and carried fully out; for 1 again assert that the idea that duties are always i to remain at precisely twenty per cent, and never to vary from that point,-be the exigencies of the Government what they may, docs not belong to the language of the act, nor is it r< quired by any one of its provisions. , The next resolution I have proposed to the consideration of the Senate is this: "Rrsohr {, That the provision in the act of the extra session for the distribution of j the proceeds of the public lands, requiring ; i the operation of that act to be suspended j in the contingency of a higher rate of , duly than twenty per cunt., ought to be repealed." Now, according to the calculations I i have mule, I lie repeal of the clause in i question and lite recall of the proceeds of the sales of public lands front the Stales, j even if made, mil not dispense with the j neccssitv of ? great increase in the exist- j ilit; tale of taxation. I have shown that j< a duty of thirty per cent, will not lie too i miicii to furnish the requisite amount ofj revenue for a ju^t anil economical admin- 1 ist rat ion of the Government. And how ' i much of that rate will he reduced should 11 you add to the revenue from imports the ! i million and a half (which was the amount I realized the last year) derived from sales 1 of the public domain? it will be but the ! i diHereuce between 33 and about 2S 1-2. | I for, since 20 per cent, yields a revenue j of twenty six millions, ono per cent, will < firing about $930,000 ; and every million 1 I oi dollars derived from the lands will re- I < duce your taxation on imports only j 5900,000; if you get a million and a,1 lu.i* it otn ine tail us, it "wit I reduce the j ' tuxes on|y from 39 to 26 1-2 per cent.; 1 or if you get tluee millioHs, as sonic gen- , tleincn insist will he the case, then you j will save taxes in the amount of the dif- . 1 ferencc between 30 per cent and 27 per j t cent. This will be the whole extent of' 1 benefit derived from this land fund, which * some Senators have supposed would he so ? 1 1..., i ?.j v.. n?j from ?I1 necos- I flUUXMiaiil an ?.? ? IVKW w xmm ....... .... ^ sity of additional taxation at all. I put ' t it, then, to every Sonutor, no matter whe* ; t thor ho Was opposed to the land bill or , ' riot, whether he in willing, for tho sake of i f this trifling difference, between 30 arid 1 26 12 p.*r cent or between 30 and 27 1 ] por cent, to disturb a g*rt;?it momentous ' ami pcpi vino subject of our national pol- i lev, which is now settled, and thereby i show such an example of instability in t legislation as will he exhibited by the fact ' < f unsettling so great a question within ^ less than eight months after it had been l1 fixed, on the most mature consideration ? ! { If gentlemen can make more out of the,5 land fund than I have here stated it like ly j to yield. I shall be glad to hear on what j t ground they rest their calculations. I i 1 say that all rho difference it will produce -v in the amount of our increased taxation is tho difference between 30 and 26 I 2 i or between 30 ami 27 per- cent. Will . j you, I repeat the question, when it is nb- j t solutely and confes.>edly necessary that , ; more revenue shall he raised, and the mode j ' in which it may be done is fraught with * so many and so great benefits to the j [ country, us 1 shull presently show, will you disturb a {{rent and vexed national , question for the sake of eking out tn so j , trifling a degree the amount to be raised ? t Hut let us look at the subject in another < view. The resources on which Govern- 1 ment should depend for paying the public 1 creditor and maintaining inviolate the ( national faith and credit, ought to he ; ? such as to admit of some cerium estimate j i and calculation. But what possible reli- j i ante can he placed on a fund so fluetua- j ting and variable as that which is deriva. j * h!? from the sales of the public lands? J We have seen it rise to the extraordinary i j height of twenty-six millions in one year. ! , and in less than six years afterwards fall -d down to tiie low amount of one million , t and a half! * i t The next resolution affirms a propo^i- j' tion which I hope will receive the unani ! * tnousconsent uf the Senate. Ii isus fol- . lows: Resolved, That is the duty of Govern- j t ment, at all time*, but more espec ially in j r a season such as now exi>ts, of general ' ' embarrassment and pecuniary distress, to i 1 abolish "II useless institutions and ofTi :os, ! ' to curtail all unnecessary expenses, and i [ to practise rigid economy, j , And the seventh resolution declares? j That the contingent expenses of the j t two II on res of Congress ought to he great- ; I - ? - -C.' f ly reduced ; ana u?e mileage ui moi.inv.a ^ ofCongrtMW ought to be regulated and more clearly defined. j It has appeared tome that the process ( of retrenchment of the public expenses . I and re for nj ;pC existing abuses ought to i begin in an especial innnn :r here, with * ourselves, in Congress itself, where is ' found one of the mosf extravagant of nil . the branches pf the Government. Ytfe j 'should begin at home, and encourage the s work of retrenchment by our own exarn- J n!<\ I have before me a documwnt which . ' * fc ' - . ;., tJhihiU Ih'e graduarj>rogrcis*.mine con- 1 tingent expenses of the two Houses of ( from 1620 to 1810, embracing j of- twenty years, divided tutu *'j" 7 < inJAii ivuummzmnmmmmnB ertis four years apart, and it shows that |1 the amount of the contingent'fund has 1 ichanced from $"S0,OOO, which it was in i j 1824, to 8127.000 in 1828, a rate of in- ! ( urease not greater than was proper con ! r lidering the progress of the country ; to ( < 3085,000 in 1S32; to 8293,000 in 1636. c ind in 1940 it amounted, under on Ad- j ministration which charged that in 1S21 , with extravagance, to the enormous sum i uf 11394,33#' 1 am really sorry, for the i credit of Congress, to he obliged to rej^d ! !i statement exhibi'ing such shameful, such profligate waste. And allow mo j here to say, without nt?y intention of be. iug unkind to those able and competent J officers, the Secretary of the Senate and 1 the Clerk* of the House of Represent**- 1 lives, (not the present Clerk,] that they ought to bear a share of the responsibility for the great ami sudden growth of^ this expenditure. How did it arise? The Clerk presents his estimate of the sum j that will he necessary, and the Committee | uf Ways and Means, being busily ?ecu- 1 pied in matters of greater moment, take j it w ithout sufficient examination, and in- | ". i -if l sert it at once in the appropriation our. . Hut I assort that it should be cut down to i abum of which members of Congress may w ith some deccncv speak to- their constituents. A salutary reform ha'sbecn I. commenced in the House of Ri prcsenta- j* lives, which ought to be followed up here. j They have already stricken $100,000 j from the contingent fund for both Houses, i ' thev should go much lower. I hope tiicre i will be another item of retrenchment, in | fixing a reasonable maximum amount to j be allowed fur stationery furnished to the J members of Congress. If this shall : he adopted, much will have been done, for this is one of the.most fruitful sources j of Congressional extravagance. I am told that the stationary furnished during the 25th Congress averages moro (hanjj $10.) per head to each member. Can: any man believe that any such amount j as this can be necessary ? Is it not an instance of profligate waste and profeclion? My next resolution is directed to the , sxponscs of the Judicial department of ' Ihe Government: I lie solved, Thatthe expenses of the ju- j Jicial department of Government have, of! i ate years, been greatly iwrcuSeJ, and \ night u? T)h diminished. ... i in this department, also, there has been a ' fast augmentation ut the expenses, and such ' in one as calis for a thorough investigation. ' fhe amount of the appropriation for the Judi- , 1 rial department has sprung up from $20,900 11 ivhicli it was in 1621 ,tn $171,000," at which , 1 t ttood for the year. 1811. Can atiy man be- j 1 rcve that this has all been fairly done I ttiat 1 ;hat department actually requires tlieexpcn i- ' turo every year of nearly half a million of; * Jollars? 1 have no doubt that the district [ 1 udges and the marshals, who have great con. j ' to] of the expenditure of (he fund, and the :lerks, ought to be held respons.bjo.. for tnis 1 fnornious increase. Without any intention!1 0 indulge in any invidious distinctions, I M hink 1 could name a district in which great j ibu*es provaii, and the expenditures are four 11 >r five times gre tcr than they are are in any ' dher district througliout the country. I hope ' iita wrulo ma ter a dl be thoroughly inve.-tt- ! ' ga'ed. and that some necessary restraints wdl 1 >o imposed upon thisbranch nf the public sor- ' rice. I atn truly sorry that in a branch of I he Government which, for its purity and up- I ighlntss, has ever been .distinguished, and ' vhich so well merits tiio admiration of the j 1 a-bole country, there should have uccurred so | liscreditable an increase in the expenses of : ts practical administration. ?*.'. I1 The next resolution asserts? " That the diplomatic relation* of ?he Uni. ! 1 eu States with foreign l'o.vers li ?ve been uii" ieccssanly extended during the last twelve;1 ears, and ought to be reduced." I 1 1 wiil not dwell long on this suhjebt. I 1 nuat remark, however, that since the days off Vlr. Adams, administration the number o j I oreigri ministers of the first grade has nearly > I loubled, and that of ministers of the second*!1 frade has nearly trippied. Why, we have ; uiuisters abroad who are seeking for the Guv- 11 ante tn a-bir.b tiiev are accredited, and ;! he Governments are nut to be found! W e . ,ave ministers at Constantinople and Vienna 1 < ?for what? We have an unreciprocated I nission to Naples?and for what? There van at the last session an attempt to aLolish ' his appointment, but it unfortunately failed. 1 3ne would think that in such a one-sided, un- ' eeiprocatcd diplomacy, if a regard to e'con;>- J I ny did not prompt us to discontinue the reJa- ( ional pride would, in like maimer, we i night luok round the coasts of Europe and of ' his continent, and find mission afier mission ' vhieh there seeins to be no earthly utility in 1 etaming. But i forbear. On the subject of mileage, I hope there may jj >e an effort to equalize it justly, and render it iniform, and that the same allowance will be ; ' nade fur the same disl rice travelled, whether .( ry land, bv w ater, or by steam rou'e, or {* vheth-r the distance be a? ertained by, liori- ; 1 mntal or surface measurement. I think 'f In' form >r trie best mode, bi.*causr it limit** us . * o a single and simple nquiry. and leaves no -pun door f<?r abuses. 1 nope, therefore, thai 1 \ e shall adopt if. ' 1? The next resolution of the Et-xics reads ! hit*: 1 Resolved, That the franking privilege ought ' ' 1 -. ? -.J if f ,0 bo former resinco u, mi ?husih- ub?b v>> -petrauicd and punished, the pos ago -in loiters I * educed, the m )de oi estimating distancee ,v nore r.J?H rly defined imd pr*??crined, and a 1 imall addition to pottage made on books, ) lamphlcis, and packages transmitted by the ; 1 nail to be graduated and mere a .-fed accord-' i;g to their respective weights. The (ranking privilege lias been mn6l dire- ! 1 ally abused. We have already re tched a ' >o; it of abuse, not to say corruption, though ! I he Government h s been in operation but a- 1 n>ut fifty years, which-it has taken Great liri.am centuries to attain. Blank envelopes I, I lave hoard it said, ready franktd. have been < ;nclosed to individuals at a distance, who , rave openly boasletl thai their correspondence ^ s free of charge. The limitation as to weight J s now extended, I believe, to two ounces. { 1 But what of that if a man may send under his i ' rank a tlKMisand of these tlvn'ounete packages? i ? I'lie limitation should he to the-tnti*! -weight t eluded in any single mail, whether, the pack.1? ?ge* he few -or-ma.) y. The report of the ; } l'o?tfriaster. General,.. at a, former session, 1 j ? ? "... f.' \ jJ" * * ''' - V I fit'hul justice* fo those officers that the mo<t !Ttra?agant increase in this (Jonj;r<>? is in the \* irjiclo of printuig^foi which theyyaj* responsi- f - - ji.-j^iiinijli '17 1 V itatca the astounding fart, thati of lite whole unouiit transported in the mails,: ninety-five xr rent, goes free of all duty, and letters of >usine*s and privaie'correspondcnce have to i JcJray the expense oi the whole. It i* moil- I >trous, and calls loudly for some provision to t ;qualize the charge, The present pngtage j >11 letters is enormously high in proportion to j he other ousmessof the country. If you will j *e fuse to carry tho.?e packages, which are; low transmitted by mail, 0imply-because, in ; hat mod#', they can IraveMccc of coat, you j kvill greatly relieve*tho. business interests of j im rountrv. which now bear nearly tho whole burden for all the rest. This it is vuur duty to do. Let us throw, it least, a fair portion i)f the burden on those who receive, at present, the whole of tho beuefit. Again. The law is very loose and uncertain as to the estimation i>f distances. Since the introduction of steam ! travel, the distance travelled has, in many cases, bceii increased, while the time consumed been shortened. Take, as an illustration, a c&^e near at hand. The nearest distance Irom here to Frederick city, in Maryland, it forty, four miles; hut?ifyou go hence to the depot on the Baltimore road, and thenvo take the tr on tw Frederick, you arrive sooner, bnt the distance is increased to one hundred utiles. Now, as letter* are chargou to mo uuio travelled, I hold it very wrung to subject a letter to this more than double charge in con. sequence of ^adopting a longer route in di$. tance, though a shorter in time.. Such cases ough' to be provided against by specific rules. 1 come now to the last resolution ulfered; wbirh is as follows: KesiJceJ, That the Secretaries of State, of I the Treasury, ol War, and of the Navy I)e- | partnu'iite, and the Postmaster* General, be severally directed, as sooi as practicable, to, report what offices Can be abobslmd, and what i retrenchments of public expenditnte ran bn ; made, without public detriment, in the res pcc'ive branches of the public service under j their charge. Wo all know that, if the Heads of Depart- j mentv will not go to work with us honestly and fa thfully, iu truth andsincerity, Congress, ! thus unaided, ? in effect comparatively but | little. I hope they will entei witji us on this ' good work of retrenchment .and reform. 1/ filul be the last to express in ' advance any distrust of their upright intentions in flu*, respect. The only thing that alarms me is. that two of these departments have coma to u* j asking for appropriation* far beyond any that litre Iieretofoie been demanded in time of' peace, and that with a full knowledge of the fact of an empty Treasury. But 1 still hope, when they shall see Congress heartily* CUifag. i cd in 'jr!C" expenditure, and reducing estimates that cannot be complied with, that they will boldly bring out to view all abuses which exist in their several spheres of action, and et u* apply the prumng-knife so! as to reduce the national expenditure within 1 some proper and reasonable amount. At all "vents, Ihey are, of course, most familiar with j h i details of the subject as it relatei to their j several branches of Ue Administration. Anong other items there are u*ele*s minti which only operate waste to the public Honey. A friend. occu .ied in investigating his subject, has told me that the mint in Nt w Jrleans has already co#t the country half a nil lion of dollars for getting ready to coin jullion nt't vet dug out of the mine! [A/r. Berrien here spoke across something lot licard by the Reporter in relation to the mint at UFahioiwga, which excited munh mirth , in the neighboring part of the Clumber ] While every piece of coin rn.ide by these j useless establishments could just as we'll be ! coined by thecenirai mint at Philadelphia. j And now, having gone thruugh with all the ieUiia of tili.i series of resolutions, which J ! thought it my duty to notice, allow ino, in drawing lo a conclusion of these r< marks, to present some of the advantages which it ap pears to tne should urge us to adout the system of financial arrangement contemplated in the resolutions. And, first. The Gove-nment will, in this way, secure to i'self an adequate amount of revenue, without being obliged to depend on temporary and disreputable expedients, and thus preserve the public credit unsullied? i winch 1 deem a great advantage of the plan. ( Credit is of incalculable value, whether to a nation or an individual. England, proud Eng- I laud, a country with which we may one day j agiincome in confld?though it gives me) pleasure to say that I cannot perceive at j . .l.. ?. ,,f ivaro in noiit- ! pred?Ul inc IIOOI. - - . ... , . teal horizon owes her vaeitiess ot power, per- : fading the habitab e globe, nuinly to her j i net and uniform attention to the prescrva. i lion of the national cred.t. 2. The next thing recommended is re^ Lrenchfiient in the national expenditure, and greater economy in the administration ofj the Government. And do we not owe it ?o this bleedmg couniry, to ourselves, and the iiiiparalled condition of the limes, to exhibit to the world a fixe.l, resolute, and patriotic pur?? pose to reduce the public expenditure to an economical standard J 3. But a much more important advantage than either of those I have yet adverted to is ! o be fvund m the chock which the adoption )f this plan will impose on the efflux of the precious metals from this couniry to foreign countries. I siiali not now go into the causes I jy which the country 1ns been brought down, J roin the elevated condition of prosperity it i mce enjoyed to its present state of general: mibamnsment and distress. I think that hose causes are as distinctly in my undernanding and memory as any subjects were jver impressed ther*?; hut 1 have no desire ogo into a discussion winch cin only revive ' he remembrance of unpleasant'topics. My iurpose, my fixed purpose on this occasion, las been to appeal to all gentolemcnn all pol-i tical sides of tins Cnamber to coine out and nake a sacrifice uf all lesier differences in a , jatriotic, genera! eifhrt for the relief of their j jountry. I shall not open those bleeding vounds which, l?<ive, in too many instances, [ >een infl eted by bro'lic s' hands?especially vill I not do ho at this lime, and on thisoccas. I on. I shall look merely at facts as they arc. shall not a^k what have been the remote - " C ll>- <1 ..ll.h.Jnil... ! Ul 'lie UU[II cpihuii -?IIU nituucuia^ >f our once glorious and happy coun-ry. I vill turn iny view only on causes which are >roxiinatc, indisputable and immediately be-ore us. , One great, if not sole, cause is to be ound in the withdrawal of coin from the :ountry to pay debts accrued or accruing ibroad for foreign imports, or debts contacted during former periods of prosperiy. and still hanging over the country, flow this withdrawal operates in practice s not difficult to be understood. The janks of the country, when they are in a sound state, act upon this coin hs the ihsjs of J,heir .circulation and discounts; he withdrawal of it not ottly.. obliges the \ >ar|krf to withhold discount* and accominitiations, hut to draw in what is due I^ sh^n^ia the ture, nro least able to meet thV calls. | Property, is then thrown into the "market to raise means to comply with those dernands, depression ensues, and, as is invariably the case when thcro is a down., ward lendoncy in its value, it falls below I its real worth. But the foreign demand lor specie to pay commercial and other public debt operates directly upon the . precious metals themselves, which are ' gathered up by bankers and brokers and i others, obtained from these depositories, and thencoexported. Thus this foreign demand has a double operation, one upon the banks, and through them upon the community, and the other upon the coin | of the country. Gentlemen, in my hum-1 bio opinion, utterly deceive themselves in attributing to the banking institutions til J the distresses of the countiy. Doubtless j the erroneous and fraudulent adminislra* : tion of some of them has occasioned much : local and individual distress, liut this would be temporary and limited, whilst tho other ^ au.se?the continued e&ux of of sp< cie from the country?if not arres* ! tod, would perpetuate the distress. Could you ann hilate every bank in the Union, and burn every bank note, and substitute , in their place a circulation of nothing but ; the precious metals, as long as such a tariff continues as now exists, two years would not elapse till you would hud the imperative necessity of some proper n?e* d um for conducting the domestic ex* i changes. J I announce only an historical truth when I df.cli e, that during and ever since our colonial existences, necessity haegivun rise to the existence of a paper circulation of sumo form in every colony on this continent; and there was a perpet- i tial stmggle between I he Crown and Royal Governors on one hand, and the ! colonial Legislature* on tho other, on this ! very subject of paper money. No; if you , had to-morrow a circulation consisting of nothing but the precious metals, the) ( would leave you hb tho morning dew * C9 leaves the field*, and you would he left ; under the necessity of duvising a mode to J fill the chasm produced by their abionce. ; I am ready to make ono concession to < the gentlemen on the other side. I admit that, if the circulation were in coin nione, : the thermometer of cur monetary fluctuations would not rise as iti^h or fall as low as when tho circulation is of a mixed char- I acter, consisting partly of com and partly of paper. But then the fluctuations them ! selves, within a moro circumscribed range, would lie quite us numerous, and ! they will and must exist so long us such j a tariff remains as force the precious met- i als abroad. I again repeat the assertion ; that, could you annihilate to morrow evefy bank in tho country; the very same" description of embarrassment, if not in the same degree, would at ill be found which now pervades our country. What, then, i* to he done to check this foreign drain? We Iihvc triad fresi trade. Wo liavo had tho principles of free trade operating on more than half the total *mount of our comforts, for the greater part of nine years (Mint, That will not do it, we sec. Do let ine recall to the recollection of the Senate the period when the protective system was thought about to be permanently established. What was the great argument then urged ngainst its establishment ? It was this: that, if duties were laid directly for protection, then we must resort to direct taxation to uv-ct the wants of the Government?-every body must inako up their minds (o a system of internal taxation. Look at the debate in the House #f Representatives of 1824, and you will find that that was the point on which the great stress was laid. Well, it turned out ax the friends of prote- tion told you it would We said that Huch would not be thectfect. True, it would diminish importation, ax it did ; but the augmented Amount of taxes would more than compensate for the reduced amount of goods. This wc told you, and we were right. [ Concluded on fourth Page ] KCRKIGX. From the New York Sun. We have London date* to the 3d, and Liverpool to the 4th inst. In England the prospect* of business arc dismal at present, but the necessity of increasing the forces in China is promoting employment for the army and navy departments. The Right of Search Treaty has been ! signed bv all the parties, with the excep- I tiou of France ; she refuses to sign it at : nr,,L:n n t 'I'ho Shaffer ij in full fnrco in |?l UOV1M* ? IIV VMUI %WI *? - ? ? Portugal, and the intended insurrection in Spain progresses. The nccounts of distress in England continue to lie as gloomy as before, and trade does not appear to improve.?The cotton market, however, is in a better state, and i/ioncv market in easier. Numerous lurge meetings have been held in all the principal towns of Creat Britain, on the aubject of the Corn law*, j at which the new corniaw measures were severely condemned. Sir Robert Peel has been burned in effigy in several towns. Parliamentary Scmmarw.?A tedious debate on the corn law* occupied the : House of Common* during five success, j ive nights, during which no new argu- j ments wero brought forward of particuUr ! interest. <Vr. Villicm movod " that all j duties payable upon the. importation of, corn, or meal, or flour, do now cease and | ^ofurinind " When the committee divi. i UVkWP ?? ? . ^ ded, the numbers were for the motion 00 against it 393. On the 26th, ult. Mr.} Christopher proposed a higher scale of duties, His proposition was that the maximum duty should be os. higher than tho maximum duty proposed by the (?or. ernment. 'ITu; division was taken on the r] n at ion, and the original proposition was carried by 306 to 10-L . ^Cjhx ijiPOHTATtox.?-List night cM j importation of.wheat, oata, and barley, were adopted, and a bill was ordered to > he prepared in uccordance with such rcso. lutiona. Slavk Tkask Twcaty.?In tho IIou*e of Lord*, on Monday, 2l?t ult, the Earl of Aberdeen laid on the table the treaty of the *Uve trade, aigncd by all -* " Uk. - trie great powers ??i r.urope e*r?-j? 1<kuvq, fie regretted that he wan under the n?. cessity of. informing their Igedshipa that (ho ratification of the King of the French had not been exchanged with those of the other powers; neither was ho able to inform the House of the precise time when that ratification might be expected. The Treaty with France, however, concluded ^ in 1831 and '33, remained in full force and vigor. FROM UKX1CO. Letter* of the 28th ultimo from the * city of Moxico say that President Santa Anna had found means to pay the sol* J tiers, and it is thought by the writers that every thing will go en well so long as ho has the managemnrnorit of affair*. ,' j*: The .Vexican Government have repu* . diatrd a loan of $1,200,000 made to the -* nation on the 20th of September la*t, during the administration of President | Bvstaxkktk, hy Alexandro J. Atecbaf on (he ground that it a term* were preju. Judicial to the interests of the National Treasury and an insult to public morals I This public knavery of repudiation parhaps mends the matter. Journal of Corrm'.rca, **ll| 'The Washington Madixonian, contains <? an official notice thut the r?*iuiM?on of ! ten per cent on the commission of Post 4 'ij .Musters, takes pUcu on tho 1st instant. jB \Vo have it on nuihority, that there is ".J every reasonable expectation that ( tho J ^ Rail Rimd to Columbia will be completed by the 4th July next.?Char. Cour, AUGUSTA. OA. S! Thk MArr.s.-r-Again ate we nil bout any mail North'of Charleston/ We war# *[ induced in consequonce of the repeated failures of the Northern mails, to suggest- ,.&> on 3 tturdny morning, the propriety of a route from this eitv^ via Columbia, direct ^ to Raleigh, N. C. Subsequently, we have ( conversed with several gentleman of-this ; city, all of whom seem quite desirous for a change, that would promise a regular receiptof the mails.?Chronicle and Srn* -}linel. v ulkar thk track! The Lowell Cruricr states that a locomotive of eleven tons, biiilt there for the fir ? ?.l mmilmm < 1*ft\ ?f PHirril l\J|lillinU| mil n? mil uv ln ... ? minutu, bang *1 tbe rntv of 90 iihIc* per. jj|jj a salutary rliN?I. M Oiio good effect produced by the temper. J? ance reform now progrea*iiijj, is jmrceptiblcr tit the order mid quiet which no* pervades out street*. No b*c!cui than revels disturb our repose?no inidu-ght nrgie* *rou*c u? from our slumber*. Tno yi U aud / ?* which v \ disgraced our streets at night, are silewfed?4fj peace, order and quiet reign supreme, and we .~ hail no w c!a in for cur m ce ftirovt toun,aa prominent rank amongst the b- at regulated, most orderly and quiet communities of our ^ land?ay, in the wide expanded universe Columbia Carolinian. LETTER OF PRESIDENT HOUSTON. Galveston, March 11,1842. | To P. Edmunds, Consul at N. Orleans: jfi Sir:?It is probable that y u will find i nj j New Orleans and other parts of the UniteilJ I State*. irroAt excitement arititif out of the^ Me nu-verarnt* of Mexico against TeXst.?> j l( any should be s'nx ou* to volunteer rn rei?*l dcring asai'tan^e t? our Republic it will bo J your duty to have it made known, that if any ; should emigrate it will in* required for eachM emigrant to bring with him a good rifle or luurknt with a cartoueh box, or i*hot pouch vr and powder horn, with at leaat one hundred ^ , rounds of ammunition, a good knxpsark, and- 5 ' aix months clothing, and enter service injjjjl j mouths subject to the law* of Texas. Tlieyjl j muit he. landed, for the present, at come point|| wwt of the Brasot, wi It right day* provi*.Tn , ion. No number Icae thin titty mix in ciok.^|p ptuiea well organized will bo received, and^ ou landing, each commandant wdl report to '4 the Secretary of War for ordert. Emigrants^ I who with to remove to Texas at this time ^ must come thus prepared, as none other wttf|1 I be of use to the defence if the country, nor wtU|| they be received. There is a greater. searci^BE I rygif arms and munitions of war than of metr^l I | in Texas. Were men to ennv* in great num-M ber? to the country wilnout being in a condt*.J H lion to act rflicieiiily. and wel provided, it jg would only encumber the country, without any_j? I other efect than to destroy the substance if who would be necessary to sustain and drfcnJjfi&Bl We can bringintothe field at .-least ten thousand men, and in case of emergency wo J could raise fifteen thousand. The war will not be of long duration, $Oj| Mexican force can long sustain itself in Te*r The indignation of the Texiana will not J tolerate the jiollution of their soil by the foot*. j ster* of their servile invaders. Mexico ha* nude the war, snd hie pre. voked the indignation of all these who bar _ 4 regarded her sanguinary cruelty and match. "1 perfidy, since the Alatno waa first be? '! seiged. Let Mexico look out for the recompense of her iniquities. 1 have the honor to be, Vour obedient servant, SAM. HOUSTON, PrtfL Mr. Carky continued his lectures uprj to Tuesday evening?Monday evening*! in the Lutheran, ah A Tuesday, 'in the ; Presbyterian chu-ch. Judge O'.Ncall was present both evenings, andentered into the work with all his soul. We shall no* *1 tice his Honor a address on Tuesday, in our next. About oxk iivxdred and SEVENTY FIVE MALES and OXE KPtfDBKD g 5g females have subscribed the Washingte^^g nmn ricage, wiinm wo ia*i icn baa been given totha Ttmperanwxuua^^