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. limit* of a juat economy. But if the necessity of levying the taxes, be taken from those \vh<> ruukc the appropriations, ami thrown upon a more distant and less power to approach the people by an in* direct and stealthy taxation, there is reason to fear that prodigality will soon supersede these characteristics which have "itftns far made us look with so much pride -niiil confidence to the Slate Governments, 'as the main stay of our Union ami liber'lies,. The State Legislatures, instead ofj tn restrict their Slate cipcndi- i tues lu the smallest possible sum, will claim credit far their profuiion, andhar-l rata the General Government for increased ^ sup))lies. Practically, there would soon j be but one taxing power, and that vested ! in a body of men lar removed from the people* in which the farming and mechanic interests would scarcely be represented. The States would gradually lo?c their purity as well as their independence; tuey would nut dare to murmur at the proceedings of the General Government, lest they should lose their supplies; all would be merged in a practical consolidation, cemented by wide-spread corruption, which could only be eradicated by one of those bloody revolutions which occasionally overthrow the despotic systems of the old world. In a.'l the other aspect* in which 1 have been * " ' * ?? I. nf 00;c lo IOO* ll uu: cum w ?wv<> ? distribution upon lhe best interests of the country, 1 can ace nothing to compensate for the disadvantages to which 1 hare adverted. If wo consider the protcctire duties, which are. in a great degree, 1 the source o! the surplus rerrnue, beneficial to one sretion of the Union, and prejudicial to another, there is no correctiTc for the eril in such a plan of distribution. On the contrary, there >a reason *o i fear that all the complaint* which have sprang from this cause would be aggravated Ercry one must be sensible that a distribution of the surplus most: beget a disposition to cherish the mea. a which create it; and any system, therefore into which it: enters, must hare a powerful tendency to increase, j rather than diminish the Ui iff. If it were even acL ! mrted tba* the advantages oi such a system could : be made equal to all the sections of the Union, the reasons already so urgently calling for s redaction of the revenue; would, nevertheless, Jose none oi j their force; for it will always be improbable that an ' intelligent and virtuous community can consent lo raise a surplus for the mere purpose of dividing it. diminished as it moat, inevitably be by the ex-; peases of the various machinery necessary to I lie ; process. The safest and simplest mode of oh rutin gall the j diCcnities which hare been mentioned, is to col- j lect only revenue enough to meet the wants of the Government, and let the people keep the balance of' the property in their own hands, to be used tor their own profit. Each State will then support its own *"* ?? mr A it a due share toward* uuirniun uv, ? the rapport of the General Gorcrsarnl Thrrr wodM be oo surplus to era tap sod lessen the resources *>f individual wealth and enterprise, and 1 tha banks would be left to their ordinary weans, j Whatorvr agitations sad fluctuations might snse > frocn our unfortunate paper system, tbev could ne- j set bo sttributrd. justly or unjustly, to the action j of the Federal Government. There would be some ! guaranty that the spirit of wild speculation, which ; seeks to convert the surplus revenue into banking capital, would be effectually checked, and that the scenes of demoralization, which arc now so pre- , vs*>*Rt through the land, would disappear. Without desiring to eoUreal that the e a per irnce ' and observation of the last two years, have ope j rated a partial change m ray views upon this in- j terrsliajj subjeet, it is nevertheless regretted that lite suggestions made by me in my annual iiies < sajprsn? !{??? and IrCW, nave been greatly mtsun* dcrstood. At that time, the greet struggle was; begun against that latiludinamu construction of j >? vtirk authorizes the unliRUlrd i appropriation of the rrreaar* of the Union w in- j tcrnal improvements trithir. the States, trading U>! iasctt in the hands, sad p!tr? under cootwl, ot 1 tiro General Government, ail tiro principal eusda j and canals of (he country ,ia violation of Slate rights, > and indenization of State author.tv. At the same j time, lhi> condition ct the manufacturing interest arw such as to create an apprehension that the du- j liea on tmpoiU could not, without eairnuve nv?- : rhiel, he reduced in season In prerml the cccumu- j Ution ot a considerable surplus after lite payment ' of the national debt. In rtew of the dangers of! roch a surplus, and in preterrnca to it* application ) (<> internal improvements. in derogation of Lhe rights and poirera of the States, (lie suggestion of' an amendment of the constitution to inliiorrv it* j distribution was made It was an alternative fur ' what trrre deemed greater ceils?a temporary ft-; ?f?rt to rrliere sn overburdened Treasury until iiir ' Cpvc/nmeat could, without s sudden and destractire revulsion in (liebusiness of ll>? country, gra I uistly return to the just principle of raising no ' ware revenue from the per pic, m imac*. than is. necessary for its commercial support. Krrn ti.at' nl>miii(? was not stxikrn of hut in connection with an amendment of the constitution. No trm-' pynry inconvenience can justify the exercise of a prohibited power, or a power not granted by tiut i instrument; and it was from a conviction that thr { power to distribute even a temporary surplus of rr-' new m of that character, that it vm suggested ! only iaoMacetioo with an appeal to the some* of all j legal power in the General Govern n?ent, tlic Hum , which ham established it- Mo snch appeal he* Leen taken, and in toy opinion a distribution <>| the > aurntus irrvrnne by Congress, either U? the States' or the people, ia to bo considered as among the prohibitions of the conrtilutiou. A* already tali- j mated, my views have undergone a change, so far , as to be convinced (last ? ? altrralion of the ror??ti. j lotion in this respect is wise or expedient The in- ' *1 newer of an iceqinnliunf s<npius upon the ir-? gislalion of lbs General Government and the State*, lis effects upon lire credit sratrrn of the country, producing dangerous rihuiiot)* sad ruinous contractions, fluctuations in tl?r prre ?.f property, rash speculation., idleness, vxiratagancr. and a deterioration of morals, havr taught us the . important lesson, that so; transient mischief which , my attend the reduction of <?ur revs nor to the i wants of our Government, is to Ic borne in pre fnvnc* lo an overflowing Tirwar;. i Wf Jrave to call your attention to anotlwr an I/- ' jeet intimately iwnrutrJ with the prrcrding onr ?<be currency of the country It i? apparent, fr>??n Hk ?h?le mntrxt of th?foaiatitufirn. at well aa the hittory ?-f the tune* which gaae birth In tt. that it *w tbr purpoar ot thr convention to rslabhah a currency contuUn; , of the jgeciottt itwuU Thr jr. from thrir peculiar ] ^mprrties, which rrndan-d thrin thr aUndarri ?>! j value hi all otb-r counltiea, were adopted in Uu*.: *< well to rttaWmh ila commercial ninndard in reference to f imgn cnunlrtct by a permanent rulr. 21 lo f icluflc liio ucr *u n nutuuic fttruiuni of r f i hang*, ofih ?? of cerUitt agriraiturnl commit d?.1 I'm, INflflirii Hj the lAtult-a of ?t>mr Mates an a tender far debts, or llir sl.ii inutr pernictot;* etpr- j client of ? paoer cum-nry Tins last, from tin-.-*, prime* of liie evil* of i?s?ir* of p*p??r during r tlie molntiun. I?*d become ro j tut 17 ubniimin, i a* not onljr to BUjfgeat p!-*"'" tl??* cuoouiu- j Hon fuHmJdanjj lh# eniiwiim of bill* of credit u> ' iIm States, but n!w? U? produce tl?at vote m tin ! r. j negation which npjftlircd toe proposition i?, grant power to tV>ii?rr? l<? clnrirr corporation* ? j p.Miusttiur well otjifcrntrwu} ?t the luue. as intended t-? authorial* luo r*tab!.>diijie?)! of * national ttbreh ww I-.' issuea .itrrr:* v i L'l.'iX > t.-. on a c^?nlol to l>c created to sotnc extent oul of Government stocks. Although this proposition ! was refused by a direct vote of the convention, ! lite object was afterwards in effect obtained, by its ingenious advocates, throogh a -trained con* I stniction of the constitution The debts of the revolution were funded, at prices which formed no equivalent compared with the nominal amount ot the stock, and under circumstances which rx! poned the motives of some of those who f?:Uci;>a* , ted in the passage ot the act to distrust. ! Tlic facts that the value of lbs stock was great* ! !y enhanced b/ the creation of the bank, ttial it j ' was well understood that such would be the case, and that some of the advocates of the measure were largely benefitted by it, belong to the history of the Limes, and arc well calculated to dimin*! * * ?t-i-t. ?--t.1 . U,.riui Kn> brrn ! I ua l IC rcjpcci Wllicil luirm UUKi.. i i!u? to the action of liic Congress which created ; the inst:luticn. On the establishment of a national hank, it be, canir the interesst of it* creditor*, thai ?"ld ahoald be superseded by liic paper ??f toe hack, a* a geu- j I era! currency A va ue was *oon attached to the i j gold coins, which made their exportation to for-1 eieri countries, aa a mercantile commodity. more profitable than their retention and u* at Lome aa money. It followed, an a mailer of course; if not designed by those who established the bank, that the bank became, in effect, a substitute for the mint of the United Stale*. I Such was the origin of a national ba:?V currency. and such the beginning of those difficult^* which now appear in the excersirp issues of the hank* incorporated by the earioos Stales. Although it may nut be possible, by any loguda-. f tire moans within our power, to change at once | the ?y*!rm which has tho* been introduced, and ha* reccsred the acquiescence of all portions of the counter it ,m certain!* oar dutT to do all that i* l cotu'.v.rr.t with our constitutional obligation* in I preventing li?c mischiefs which are threatened bj it* undue extension. That the efforts of the fai it.cn of onr Government to guard ngainsi it by a constitutions! provision were foandid on an in- j timale knowledge of the subject, haj been fre! quently attestea br the bitter experience of the coentrr. The same causes which led them to re-' 1 fuse their sanction to a power authorising the rsi Itbltshmenl ol incorporations for banking purposes, now exist in a imir.li stronger d?*grec to urge us to ejert Uk* utmost vigilance in calling into action mean* necessary to correct the cr.Is resulting from the unfortunate exercise of the power, and it is to be Iwpcd that the opportunity for effecting Uus great trill be improved before the country witnesses new ecencn of embarrassment and diitrrtt Variableness must ever be characteristic of a currrncy, of which the prrcmus metals are not the chief ingredient, or u Inch can be expanded or " ?? ??>1 in 1K0 hnnrtnlr-i ihlt WUU<??.U-U AHu rut ll %-w rr ?u!a'.r the value of Uiote metals a* a standard in lisc general trade of the world. With u* uxni. i*Uf? constitute such a cuirvncy. and must ever do >y until thrj are made dependent on those josl propertied# of gold and ailrer, as a circulating medium. which experience has proved to be nrccaaarr, not only in this. bet in a!) other commercial countries Where tb.wc proportion# are cot mfu-vd .r.to the cuculaUon, and do cot control it, it ia nixytfe#: that price* ejus virx according to the tide of bank issues, and thr value and stability of property must aland nmwd to all the uncertainty which attend* (lac- administration ot institution# that are constantly liable to thr temptation of an interest distinct from that of the community ia which they are established. The pmjreas of an expansion, or raiber a deprrratiuo of the currency, by excessive bank issues, is altraja attended by a I?m to I lie laboring classes. This p rtion of the community have neither time nor opportumlv to watch the ebbs and Hwi of the mt nrr market. Enjrajjrd froci dav ! In day ?n Uir;r uwful IwU, the* d<> not prrccitc j that although their wa?ca arr noinc&l!; the ?a??c, ! or even fowwhsj higher. ilirjr am* greatly re. j dueed in fact by the rapid incrrcw uf a ipunoot j Currency which, oa it apprara to t.jsio money ' abound, they ore at f?r?t inclined to ror.ndrr a i b!e*?:n?. It i* nol ?o with the peculator, by whom this operation i? better understood, end u made to contribute to iu* adrantagr. It i? not en* til the prices of the iwceunm of lit* become to dear that the laboring cia??ra cannot supply their want* oct of their wage*, that the wag*"* *" *?t0<* gradually nrarh a jo*tlr arojwlionro tale to that of the products of their labor. When thus by the depreciation in conacourncr of the quantity of paper u> circulation, wage* u well a* price* become exorbitant, it u soon found thslyic wholr cfleet of the adulteration xa a tariff ?o our home snduatry f?r the benefit oi the countries where **u ?<.?hUi? itid tnslnliiti uniformity ?V,M and moderation in pncea. It ta thm prrceirrd that tij?- ruhanccovrni of U?e price of land and labor produera a corrvaponding mraraae tn the price of prodocta, until tbrsr products do not aus'ain a competition Willi similar ones in other countries, and Ihua LoUa manufxctutrd and agricultural production* cease to bear nportitioa lio?n the cun try of the spunons currency, brcauw thcr cannot If told for coat. Tina ta tlx1 pieces* t?jr winch ?j* cie is Usiushrd by the paper of the banks. Their Tar.ila are aoon rtbaustrd to nay for foinen coin moditim; the next atop is a stoppage of apecie payment; a total degradation of paper as a curlooey ; unusual depression of prices ; the rain of debtor*, and the accumulation uf property in the lunda uf creditor* and cauUoti* capitalist* It ?raa In Ticw of there evil*, together with the dangerous power trield-d by the lianfc of tlx I'mled Kiau-s, and iu tcpofuaucr to our couatitu lion, that I was induced lorxrn UJC B"WT[ IUIIKI- | re<J upon me t?jr the American people, U> prevent the eoftUsosflff <t (bat institution But, although nrioui 0tn|tn to our republican institutions have brrn obviated by the laiiurr of that bank to cilofl from the Ciuvrrnutent a irncual of ita ciurkr it u obvious that littla has been accomplished, except a salutary change of public opinion, towards featuring U? the country the aoon j currenry provided for in the constitution. In the acts of ?errial of the Stau*? prohibit.ng the cin? la\'-r o: r.iall notes, and the auiiliarr enactments cf r.j.vss at the Inst on fori'????* th*;r reo-puwn *>r payment nit pub In: account, I.W '.rur j Oncjr <>f ?lie counir> hi* Uto advanced, 4>*i lifter p rtuui of tl,c prc'iu# tncu!* ia/acd in'jti cur .-irciiiating j medium There rnruurrt?ill ejr-?* '.-ly be ; ? l? . -n?nt nf State ' r?l yj?, in ?. .* ii.n.- v? - Un bnn;?hirr ?; . . U?nk antra of atiJl ti-2' ?"i iliie objecl'ruay b?* ma- j Irntiij prmucud ity farther ?cl? of forbidding thr employment, as firs! lit*, of ?ueh bank* as continue to lean* nntr? i >*v t!<-nor.ina. tion*, and throw tmpidir**e '!> ? ti.- way of the circuUti :? f e !d .. J .lit-: The rifi rl* of an ritrnN?() oI bank rrodiU l.ntl orrr iuufi of hank jwper. harr been aUikingiy ifluatrated in tlx* nab s <*f the ptjbbr Itnd* Fiom Iho return* made by the vari<*ua llrjjMrra and Kern rer? in the earlr part ol last atiuiuirr, it w ?* prjcci red that the receipt* anaing from the aalr* ?f the. public land* were increasing t.? an unprecedented amount I u ? fleet, )m>* errr, tbr?r n rripU a 1 noun Wd t'? nothing ui"fe than rredit* in bank f'bo IniiM Irnioiit their ;io!e? to a tire 111 a tor*: thee wen* paid to the llfcriri'rn iui?l immediately returned to i>u< iinnk*. to Ite lent out a?;am rnilt^nn, being mere instrument* to transfer to ?jw< nlators tinlitest valuable public land,ami pit the (inirrnmcnl hjr a credit ?>n the books r?t the btnk? Those j credits on the <? k? <>f ?oiiir nf IV w< ?trm hank*, j usualljr called ?lcpo*ite*. weir already erratty |?? ! jroliml there immediate means of payment, and ! *err rapidly incfrasinj* liidrrd cjcIi speculation i furnished means for another; f,?r no sooner h?l mi ndividnsl or company paid in flic notes, thin thej ! were mimeihalrly lent louiwlier f<o ? like purpose j and the bank* urn* extending their business and 'heir issues *o hrsrtr. as to alarm considerate men ' and render it doubtful wlx-ther these hank credit-,] if j*?-rmiite<| io ai cumulate, uould ultimately be til 1 ' !V I'.as! 'o \U; ^orczuiistitt. The sprit o.'I expansion and jmecalauun no* nwl coniinccl to the depoaitc banks, out pervaded the whole multitude oi bank* throughout the Union, and was giving rise to new institutions to aggravate the evil. The safely of the public funds, nod the intercut of ;hc people generally, required ill at these operations should be checked; and it became the duty of every branch of the General and State Governments to , adopt all legitimate and proper means to produce that salutary effect. Under this a t ti,o nf | the order which will be laid before you by the Secretary of the Treasury, requiring payment for the public lands sold to be made iu specie, with an exception until the loth of the present month, in favor of actual settlers. This measure has produced many salutary consequences. It checkrd the career of the western banks, and gave them additional strength in anticipation of the pressure which has since pervaded our eastern as well as the Eu j ropcan commercial cities. By preventing I the extension of the credit system, it uicn1 surably cut off the means of speculation, and retarded its progress in monopolizing the most valuable of the public lands. I It tended to keep open the public lands i for entry by emigrants at Government ; prices, instead of their being compelled to purchase of speculators at double, or i treble prices. And it is conveying into i the interior large sums in silvor and gold, i there to enter permanently into the currcn; cy o( the country, and place it on a firmer ; foundation. It is confidently believed ; that the country will find in thr motives ; vliich induced that order, and the happy ' consequences which trill have ensued, much lo commend and nothing to con* demn. I It rcmiins for Congress, if they np| prove the policy which dictated this or; dcr, to follow it up in its various bcar| jogs. Much good, ia my judgement, i would be produced by prohibiting sales | of the public lands, except to actual set! tiers, at a reasonable mlui tiun of price. ! and to limit the quantity which siull !> sold to them. Although it is believed the tirnrral Government urvcr ought lo receive nv thing but constitutional eurrcn cy in exchange for the public lands that poi l would be of less importance if the , lands wrrc sold for immediate settlement! | and cultivation. Indeed, there is scarce ly a mischief arising out of our pres-nt. land *v?trm, including the accumulating surplus of revenue, which would not be remedied at once by a restriction on land . % i ?. : #ajcs to actual settlers; ami u promise? other advantages to the country in gencr ai, and to the new Stale? in particular, which cannot fail l?? receive the moat profound consideration ?f Congress. Experience continues to realize the expectations entertained as to the capaci tv of the Stale Hanks to nerform the du ties of liflcaJ agents for the Government at the time of the removal of the deqios, ilea. It uii all r?*d by the* advocates of the Hank of the United States that the Stale banks, whatever might be the regu Intious of the Treasury Department, could not make the transfers required by the Government, or negotiate the domes tie exchanges of the country. It is now well ascertained that the real domrstic exchanges performed, through discounts, by ibr I'luted State? Bank sod its twentylive branches, were at least one third less than those of the drpositc hanks for on equal period of lime; and if a comparison be instituted between the amounts of scr rice rendered iy wese iDtduiuui^, uu the broader basis which has bern used b\ the advocates ol the United Mates bank i: estimating what they consider the do mestic exchanges transacted by it, the re null will be still more favorable to the dr (Misite bauks. The whole amount of public money {transferred bv the Bank of the United States in 18$*, was $10,000,000. The amount transferred And actually paid by the deposile banks in (he yrar ending the first of October Jast, was $39.310,*99; the amount transferred and paid between that period and the sixth of Movrmber was $0,399.000; and ;hr amount ? f trans fer warrant* outstanding on that dat ua? 811 150.000; making an aggregate ol Ami tit* so J Tlie#c enormous sums of V"V| w^)vv ?t ? inoiir) fjr&l mentioned hare been iraus ferrcu with the greatest promtiudc regu Lrily, and the rate* at which tlu- ex change* have been negotiated previously to the parage of the deposite act, were generally below those charged by the flank of the Uni.cd States. Independent ly of these services, which arc far great cr than those rendered bv the United States Bank, ant! it* twciity-ttre branches, a ntnnhnr of the deposite bank* have, with a commendable /mi to aid in the improvement of the currency, imported from abroad, at their tvn expense, large *11111* of the precious metals, for coinage und rireulutton. In the same manner have wo near!) ail the predion lis turned out in respect to the < fleet of the removal . f the depo*ite* ?a step unquestionably necessary, to prevent the evil* tvliicn it was foreseen the bank itself w ould endeavor to create in a final struuele to procure a renewal of its charter* li may he tin:*, too, in owe degree, with the further stopi which IIIAv he taken to prevent the excessive i*sue i>( other hank paper, hut it in t-? he hoped that nothing will deter the Frdrrnl Suite nulhoiities from the firm and \ igorou* performance of thrir duties th< rusclvrs and tJ the people in this re> peel. Iii reducing the revenue to the wants I the (ict'i rninent, your particular ott< ntinn is invited Jo 1110*0 articlrs which Cii'istitutc the nrrcwarici* of life. The duty en e-r,|( J-111? n* a wnr Isx, cud i was uo doubt continued to assist a providing for the payment of the war ?bt*? There is no article the release "(which from taxation would be felt so gen-rally and so beneficially. To this may la added all kinds of fuel au.l provisions. Jus* j tice and benevolence unite in favor oT**ei leasing the poor of our cities from birdens which ore not necessary to the stp1 port of our Government, and tend only to j increase the wants of the destitute* ; It will be seen by the report of the Secretary of i the Treasury, and the accompanying docnmeits, that the Bonk of the United Stales nas made no * j i- - . I 5? I payment on accoant of the stock neia oj we *v I vcrnmont in Uul institution, although urgef to pay any portion which might suit its conventetce, 1 and that it has given no information when payofnt may be rxpoctod. Nor, although repeatedly rei quested, has it furnished the information in els: tion to its condition, which Congress authoazed tJie Secretary to collect at tlieir laat session; scch measures as arc within the power of the Execcivc, i have been taken to ascertain the value of the otock, and procure the payment as early ox ptoi. ble. j The conduct and present condition of that bank, and the ^rcat amount of capital rested in it by the : United Mates, require your corelul attention* Its charter expired on the 3d day of March last, and i it Las now no por.cx but that given in Uie 21st section ? to use the corporate name, style, and capa , city, for the purpoosc of suits for the final settle went and liquidation of the affairs and account of the corporation, and for the sale uid disposition 01 their estate, real, personal, and raized, bat not fir any other purpose, or in any other manner vjjha^ ' sover, nor for a period exceeding two years anas the expiration of the said term of incorporation Bo fore the expiration of the charter, the slockbol den of the bank obtained an act of incorporation from the legislature o! 1'cnnsylrania, excluding only the United Stairs- Instead of proceeding to wind up their concerns, and pay over to the Cui ted Statrs tbr amount of the stock held by Lhem, the president and directors of the old bank appear , to hare transferred the books, papers, notes, ob ligations, and most or all of its property to the new corporation, which entered upon business as ; a continuation of the old concern Amongst other : acts of questionable validity, the notesol the ex i pired corporation arc known to have been iss :ed as ' its own, and again put it: circulation. That the old bank bsd no right to issue or rc-issuc its notes tiler the expiration of its charter, cannot be denied, and that it could not ron&r any auch right on its ' substitute, any more than exercise it ilsell, u equal | ly plain. In law and honesty, the notes oi the - bank in circulation, at the expiration of its charter, ' ?b?u!d have been calledln by public advertisement, i paid up as presented, and, together with those on hand, ccncrJ.'rd and destroyed Their rt-issoe is , sanctioned by no law, and warranted by no ncces j sity. If the United Statrs be responsible in their ?i'?t '?? ?K? mrmrri of limr notes. their re-is sue, by the new rorpurelico, for their own brorfil, | is a traud on the Government. If the United Stales is net responsible, then there is no legal ir | ?ponrib;.iti in any quarter, and it is a fraud on the ! country. They are the redeemed notes of dis j so!red partnership, but, contrary to the wishes of the retiring partner, and without his consent, arc again rc-;*?ued and circulated. It is the high and peculiar dcty of Congresa to ' decide whether any further legislation be necessary ' for the security of the large amount of public pro perty now held and in use bj thr new bank, and tor Vindicating the fights of the Government, and compelling a speedy and bonral arttlrinent with all the creditors of the old bank, public and private, ; or whether the subject shall tie left to the power now possessed by the Kxeculive aiid Judiciary. It remain* to be kco whether the persons, who, as managers of the old hank, undertook to control the tiovcmmpni, retained the public dividends, ' shut their doors U|<vn a committee ol thr HoUaw ol . Representative*, and filled the country with panic to accomplish their own sinister objects, may now, ' as managers of anew bank, continue with impunity : to flood the country with a spurious currency, use j the srren millions of Government stock for their | own profit, and refuse to thr United Slates all infer milion it !n the nhwiil rolidilion of liw?ir own ' property, and liw pro*pret of recovering it into ! their unn ponrMiou. Ibe jrnbM taught by the Bank of the United J Suu-? cnuul wrll br l-??t upon ibr A me t icu people Thry will lair care never again to place *o I irrmrndooj a power in irresponsible bands, and it : will be fortunate if thej seriously consider the consequences which are likely to result on a smaller scale from the facility with which corporate powers are granted by thnr Slate Governments. li is believed that the tan ui the last session regulating the depowilc hanks, operates onerously and unjustly anon Ihcui in many respects; and it ts hoped that Congress, on proper representation, will adopt the mcditicaUons which air necessary to [ prrrent this consequence The report of the ccervtary of Wared interim, ) and the accompanying document*, all winch are hcrrw.th laid lirfuie )?>u, m >11 give you lull view I of the Circr?ifiril and important opcral-ous of tint Department during the past year. The military mt<rcn<cnu rendered n.ceswary by the aggressions el the 1. ?stne ;MniuOa o| tbe Jw i minor and Cirek lube* or tnmaos, and by other circumstances, Lav. nquuvd the active employ ! meet of t.rajh ?ui * hoir regular force, including i tlie n.anne coma, and ? ! laf.'C bodies of ii.ihlia I au?! ruiuntivn V\ lUi all these cvrnis. so tar at ' fbcy arete known at the scat ?>1 Guvrruioent be . (orr liar u-runnau->n ?>l tout a*t ?es#i. it, yu ate ! already actjunnU d aud tt t> iu? rclwir fitly nrrulul ' to lint piacr to a* bct<>rr you a burl ruuo.axy of : it bat has since ttccurrrd. "1 be war with the fcc.i ir.ole?, during the auui : tnrr, an, on our , art, chiefly confined to Lbr pro tcrlion ?t our IrunUci settlements, from the incur torn ??l tbr enemy ; and or a necessary and im po riant means lor lite accomplishment of tbai end, to the maintenance of the poata previously estab llslird lu tbe coutic of this duly, several actions to..It piacr, in which the bravery and discipline ot both oilier rs and men were conspicuously display rd, and which 1 have deemed it proper to notice, in rrspcct to tbr I or iiver, by the giauung of brcrct rank lor gal-ant services in the field Hut as the 1 force of the Indians uan not so lar weakened by these partial successes, as t<? lead them to aubmtt, and as their aaragr inroad* were frequently te prated, early measures were ukcii for placing at the disposal of (.turnnor Call, n ho. as commander in rluef ol the Territorial uuliUa. had been tempo j rarilv invested w ith the command, an ample force, i - ..f . i |U| M4V |ruip^r?i * II AUIUIIt^ UiiVIMlVC l?j?TItlUWH?, j to ti?*- mit*l elite lent manner, so soon an the season should permit Mnjnr Gvticrtl Jesup uu also directed on the conclusion of hi* duties in the Creek country, to repair to Florida, and bmuiik the command. 'I'lte re*ult of the first movement mode by the force* under the direction cf tioternor Call, in October last, as detailed in the accompanying pa I per*, excited much surprise and disappointment. A full explanation has been rerouted ot the causes which led to the failure ol that movement, but has not yet been received In the mean time, a* it was loured that tile health of (torernor Call, who was understood to have suffered much from sick lies*, might not be adequate to the crisis, end an Major (ieneral .U-nup was known to have reached Florida, tint officer was directed to assume the tummanu. nnu 10 prosecute ail m-eitru! operations with the utinont promptitude and vigor From the fnrcr lit hi* dmportl, and the dippofcitionK fie hs? nude and ?-? instructed to make, andfr?m the very efficient tin'inurcs which :t u since ascertained have l-con taken by ftovernor Vail, there i* tonm t'i hope that tht*y will r.oon he enabled to irduce the enemy to subjection In the mean time, as you fill pcrcei* c front the rrnct! ?.f the f??.c:(tarv; (here is urgent necessity ?ut father appropriation* to suppress these hostilities. Happily for the interests o( humanity, the hostilities with the Creeks irete brought to a close soon after your adjournment, without that effusion of blood which at one time was nnnpalionrlm! jjj inAtiiablc. The nneeindi tiotial submission of the hostile party was followed by their speedy removal lo tfaocountry assigned them west of the Mubu? sippi. 7 be inquiry as to alleged (rands in the-purchase of the reservations .of these Indians, and the causes of their hostilities, requested, by the resolution of the House of Representative of the 1st of July last, to be inadc by the President, is now going on, through the agency of commissioners appointed for that purpose. Their report may bo expected during your present session. The difficulties apprehended in the Cherokee country have been prevented, and the peace and safety of that region and its vicinity effectually secured, by the timely mear sures taken by the War Department, and. still continued. The discretionary authority given to Gen. Gaines to cross the Sabine, and to occupy a position as far west as Nacogdoches, in case he should deem such a step necessary - * " ? ?* anrl (A fltA to 111C ptuictliuu til UtC IIUIIULI, IUJU >v .-V fulfilment of the stipulations contained farout treaty with Mexico, and the movement subsequently made by that offcer, hare been alluded to iu a former part ortlri^'message. At the date of the latest intelligence from Nacogdoches, our troops were jet at that stat ion; hut the officer who has succeeded General Gaines has recently been advised that, from the facts known at the seat of Government, there would seem to be no adequate cause for any longer maintaining that position; and he was accordingly instructed, in case the troops were not already withdrawn under ike discretionary powers before possessed l>j him, to give the requisite orders lor that purpose on the receipt of tbe instructions, unless be shall then hare in his possession such information as shall satisfy j him that lite maintenance of tbe post is csjscuiiaito the protection of our frontiers, and ' ? Im*?v cfinnti. I lO llil' UUC IACLUIIUU VI IMII tym ! (ions, as previously explained to bim. : Whilst the necessities existing during j the present year, fur the service of miJi tia and volunteers, hare furnished new | proofs of the patriotism of our fellow citizens, they hare also strongly illustrai ted the importance of an increase in the ;rank and tile ot the regular army. The views ot this subject submitted by tho Secretary of War, in his report, meet my entire concurrence; and are earnestly ! commended to the deliberate attention of jCongiess. In this connection it is also i proper to remind you, that the defects in our present ir.iliits system arc every day {rendered more apparent. The duty of | making further provision by law for or* i ganizing, arming and disciplining this arm iof dcftmrc has been so repeatedly pro* : ncuicd to Congress by myself and my predecessors, thai 1 deem it so/ficirnf on Una occasion to refer to tbe list annual tncna?igc, and to former Kxreutive communications, in which the subject has been discussed. 4 It appears from the reports of the officers charged with mustering into service the volunteers called for under the i act of Congress of the last session, thai 1 more presented themselves at the place of . rendezvous in Tennessee than were sufficient to meet the requisition which had been made by the {Secretary of "War upon ' the Governor of that State. This waa ; occasioned by the omission of the Goi vernor to apportion the requisition to tbe different regiments of militia, so as to ub- ^ .ain the proper number of troops, and no more. It s< ?-n<* but just to the patriotic citizens who tepaired to the general rendezvous, under circumstances atilhotizing tl-eni to brlicvc that their services were mi'ded, and would be accepted, thattho expenses incurred by them while absent fruui their homes, should be paid by tho Government. I accordingly recommend (hat a law to this effect be passed by Congress, giving them a compensation which Hili?- v?*r their expenses on the march to u'?l lion; the place of rendezvous and ?? hue (here; in ci.burcii??n with which, it will also be piopcr to make pruvibi-.m for sin h other equitable claims, growing out of the service of the militia, as may not bo embraced in the elifting laws. On the unexpected breaking out of hostilities in Florida, Alabama, and Georgia, it became necessary, in some cases, to tak? the property of individuals for public use. Provision should be made by law for imlcmnifxing the owners? end I 1 would also respectfully suggest whether some provision may not be made, consistently with the principles of our Government, for the relief of the sufferers by Indian depredations, or by the operations c?f our own troops. | No time was lost alter (he making of the requisite appropriations, in resuming | (lit* great national workol completing the unfinished fortifications on on; seaboard, and of placing them in a proper slate of defence. In consequence, however, of the very late day at which those billa were passed, hut little prrgrcss could tc made during tin- season which has just closed. A very large om< unt of the moneys granted at your last season, accordingly, remains unexpended; but as the work will be ngnin resumed at the earliest moment in the coming spring, the balance of the existing appropriations, and in several ease-, which will be laid before you with the proper estimates, ftirlher sun-s for the i. t * . . - - - J?'* r-Kc 'Djpcif, may be ufc.ullv espenucu hiring the next year. The recommendations of on increase tn the Engineer Curj s nnrl f??r a reorganization el i e Tcf-opraj Meal Corps sn }~ mi'.tt 'i 10 \ < m in m v 1 itit cur.''"l mctsag