Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, December 20, 1836, Image 1
i
C HERA W GAZETTE.
m. maclean, editor & proprietor. CHER AW, S. ., TUESDAY, DECEMBER 20, 1836. vol. ii. no. e .
? _ ? ?p
T. A. PETTEGREW, PRINTER.
Published every Tuesday.
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?p? ?? v
PRESIDENT'S MESSAGE, v
n
AT THE OPENING OF THE PRESENT SESSION ^
OF CONGRESS.
C
Addressing to you the last annual mes. o
sage I shall ever present to the Congress t<
of the United States, it is a source of the u
most heartfelt satisfaction to be able to a
congratulate you on the high state of pros- tl
perity which our beloved country has at- ti
tained. With no causes at home or abroad b
to lessen the confidence with which we v
iook to the future for continuing proofs of o
the capacity of our free inslitutions to pro- h
duce all the fruits of good government, the ft
general condition of our affairs may well ti
O # *
excite our national pride. \\
I cannot avoid congratulating you and w
?" noirtM-Milnrlv r?n flip SllfCPW nf I r>
11 ly VUUIIil I) |/U4 MVUIUIIJ j V?? ? ~ - - ^
the efforts made during my administration tl
by the Executive and Legislature, in con- r<
formity with the sincere, constant, and car- ir
nest desire of the people, to maintain peace c<
and establish cordial relations with all for- V
eign powers. Our gratitude is due to the G
Supreme Ruler of the Universe; and [ in- ai
vite you to unite with me in offering to pi
Him fervent supplication, that his providen- p
tial care may ever be extended to those ir
who follow us, enabling them to avoid the o
dangers and the horrors of war, consist- ei
ently with a just and indispensable regard it
to the rights and honor of our country.
But, although the present state of our for- o!
eign affairs, standing without important ai
change as they did when you separated in fa
July last, is flattering in the extreme, I re- a<
gret to say that many questions of an in- ai
teresting character, at issue with other hi
powers, are yet unadjusted. Amongst the tc
most prominent of these, is that of our ei
northeastern boundary. With an undimin- rn
ished confidence in the sincere desire of ai
his Brittanic Majesty's Government to ad- in
I nm nnf vftt ir* nosses.
JUSl IIIUI ? ? .7?- --- |
siou of the precise grounds upon which it vj
proposes a satisfactory adjustment. w.
With France, our diplomatic relations ^
have been resumed, and under circuinstances
which attest the disposition of both :o
Governments to preserve a mutually beneficial
intercourse, and foster those amicable a1
feelings which are so strongly required by 0|
die true interests of the tu o countries. W ith w
Russia, Austria, Prussia, Naples, Sweden
and Denmark, the best understanding exists,
and our commercial intercourse is gradually
expanding itself with them. It is en- !
couraged in all these countries, except Na- !'
pies, by their mutually advantageous and 1
liberal treaty stipulations with us.
The claims of our citizens on Portugal
arc admitted to be just, but provision for ^
the payment of them has been unfortunateIv
delayed by frequent political changes in .
that kingdom. ?
The blessings of peace have not been
secured by Spain. Our connections with J
that country are on the best footing, with
the exception of the burdens still imposed
upon our commerce, with her possessions
out of Europe. =
The claims of American citizens for 0
Josses sustained at the bombardment of ?
Antwerp, have been presented to the Go- ^
vernments of Holland and Belgium, and {
will be pressed in due season, for settlement.
I
With Brazil, and all our neighbors of l
this continent, we continue to maintain relations
of amity and concord, extending our {
commerce with them as far as the resources
of the people and the policy of their governments
will permit. The just and long
standing claims of our citizens upon some c
of them, are yet sources of dissatisfaction
and complaint. No danger is apprehend- c
edf however, that they will not oe peace, p
fully, although tardily, acknowledged and t
paid by all, unless the irritating effect of her
struggle with Texas should unfortunately t
make our immediate neighbor, Mexico, an t
exception. p
It is already known to you, by the corres-1 <
p>ondence between the two Governments !'
communicated at your Inst session, that our j i
conduct in relation to that struggle is regu- j <
iated by the same principles that governed j i
r us in the dispute between Spain and Mexi. i
co herself; and I trust that it will be lound, i
on the most severe scrutiny, that our acts t
have strictly corresponded with our profes- j I
sions. That the inhabitants of the United j I
States should feel strong p>repossessioiis lor j 1
the one p>arty is not surprising. But this | <
circumstance should, of itself, teach us great j \
caution, lest it lead us into the great error j j
of suffering public policy to be regulated by i
partiality or prejudice: and there are con. I
siderations connected with the possible re. i
suit of this contest between the two parties, ;
of so much delicacy and importance to the j1
United States, that our character requires j |
that we should neither anticipate events nor ;
attempt to control them. The known de- j j
sire of the Texans to become a p>art of our 1 <
svstem, although its gratification depends f <
9 O C ?
upon the reconcilement of various and con- c
dieting interests, necessarily a work of s
time, and uncertain in itself, is calculated to f
expose our conduct to misconstruction in tl
the eyes of the world.?There are already b
hose who, indifferent to principle them- e
selves, and ..prone to suspect the want of it d
n others, charge us with ambitious designs c
md insidious poilcy. v
You will perceive by the accompanying u
Jocuments, that the extraordinary m:ssion n
rom Mexico has been terminated on tiic it
sole grounds that the obligations of this
jovernment to itself and to Mexico, under g
rcaty. stipulations, have compelled me to b
rust a discretionary authority to a high \\
>fficer of our army, to advance into territo- ai
V claimed as part of Texas, if necessary ei
o protect our own 01 the neighboring fron- ti
ier from Indian depredation. In the opin- ft
on of the Mexican functionary, who has b<
ust left u^, the honor of his country will be w
rounded bj American soldiers entering,
rirlr the most amicably avowed purposes, it
ipon ground from which the followers of gi
is Government have been exoelled. and th
? - - I ' #
>ver which there is at present no certainty w
if a serious effort on its part being made m
o re-establish its dominion. The depart- as
ire of this minister was the more singular th
s he was apprized that the sufficiency of m
lie causes assigned lor the advance of our if
oops by the commanding General had th
een seriously doubted by me, and that there si
, as every reason to suppose that the troops
f the United States?their commander ci
avinjj had time to ascertain the truth or di
O .
ilsehood of the information upon which sr
icy had been marched to Nacogdoches? vc
ould be either there in perfect accordance
ith the principles admitted to be just in his lej
onference with the Secretary of State, by cli
ic Mexican Minister himself, or were al- be
jady withdrawn in consequence of the qi
npressive warnings their commanding offi- is
er had received from the Department of en
far. It is hoped and believed that his pr
rovcrnmcnt will take u more dispassionate en
nd just view of this subject, and not be dis- fo
osed to construe a measure of jusifiablc gi
recau! ion, made necessary by its known io
lability, in execution of the stipulations of of
ur treaty, to act upon the frontier, into an bj
ncroachment upon its rights or a stain upon T
s honor. th<
In the mean time, the ancient complaints es
f injustice, made on behalf of our citizens, pe
re disregarded, and new causes of dissatis- gr
iction have arisen, some ot them of a char- in
Jter requiring prompt remonstrance, and to
mplc and immediate redress. I trust, fo;
Dwever, by tempering firmness with cour- be
sy, andacting with great forbearance upon thi
rcry incident that has occurred, or that co
iay happen, to do and to obtain justice, mi
id thus avoid the necessity of again bring
g this subject to the view of Congress. tci
It is my duty to remind you that no prosion
has been made to execute our treaty
ith Mexico for tracing the boundary line 01
:I ween the two countries. Whatever may va
5 the prospect of Mexico's soon being able
execute the treaty on its part, it is proper is;
mt we should be, in anticipation, prepared ev
: all times to perform our obligations, with- or
Lit regard to the probable condition of those as
ith whom we have contracted them. ha
The result of the confidcnlal inquiries
tade into the condition and prospects of .
ic newly declared Texan Government, will !n
b communicated to vou in the course of ,s
to
ic session.
Commercial treaties, proposing great ad- s '
antages to our enterprising merchants and ?
avigators, have been formed with the dis- J?1
int Governments of Muscat and Siam.? .
'"he ratifications have been exchanged, but *!'
ave not reached the Department of State. 1
/ -I-* ? ??:u i?*?
/'opics oi uieiruaues win uc iiuuaumiuu iu
ou, if received before, or published, ifar- j1
iving after, the close of the present session ,l
f Congress. t
(*(
Nothing has occurred to interrupt the
;ood understanding that lias long existed ni
m
nth the Barbary Bowers, nor to check the .
;ood will which is gradually growing up in j"
tur intercourse with the dominions of the .
Tovernment of the distinguished chief of
ai
he Ottoman Empire.
Information has been received at the De- !r
mrtment of State, that a treaty with the 11
imperor of Morocco has just been negoti- ?'
ited, which, I hope, will be received in time 1S
n> be laid before the Senate previous to the 0i
:lose of the session. *c
u
[ The part of tlie message published in c
tur last came inhere.] ?
I beg leave to call your attention to an- tl
)ther subject intimately associated with the ji
ireceding one?the currency ofthecoun- d
rv. d
It is apparent, from the whole context of o
he constitution, as well as the history ofthe p
imes which gave bird) to it, that it was the tl
purpose of the convention to establish a a
urrency consisting of the precious metals, o
Fhese. from their peculiar properties which c
ender them the standard of value in all r?
ather countries, were adopted in this, as tl
well to establish its commercial standard, h
n relation to foreign countries, by a per- ir
nancnt rule, as to exclude the use of a mu- d
:able medium of exchange, such as ofcer- o
ain agricultural commodities, recognised u
by the statutes of some States as a tender t<
for debts, or the still more pernicious expe- s
Jient of a paper currency. The last, from s
the experience of the evils of the issues of u
paper during the revolution, had become tl
so justly obnoxious, as not only to suggest e
the clause in the constitution forbidding the n
emission of bills of credit by the States,hut a
also to produce that vote in the convention which
negatived the proposition to grant d
poucr to Congress to charter corporations; ii
i proposition well understood at the time, it
as intended to authorize the establishment
af a national bank, which was to issue a v
surrenry of batik notes, on a capital to be J
reated to some extent out of Government i
locks. Although this proposition was re. I
used by a direct vote of the convention, 1
he object was afterwards in elFect obtained, 1
y its ingenious advocates, through a strain- i
d construction of the constitution. The t
ebts of the revolution were funded, at pri- t
es which formed no equivalent, compared i
dth the nominal amount of the stock, and t
nder circumstances which exposed the i
lotives of some of those who participated i
1 the passage of the act, to distrust. \
The facts that the value of the stock was c
reatly enhanced bv the creation of the c
ank, that it was well understood that such e
ould be the case, and that some of the f
dvocates of the measure were largely ben- p
fitted by it, belong to the history of the ti
mes, and are well calculated to diminish o
ic respect which might otherwise have c
sen due to the action ot the Uongress p
hich created the institution. e
On the establishment of a national bank, c
became the interest o[ its creditors tWf" h
aid should be superceded by the paper of p
ie bank as a general currency. A value b
as soon attached to the gold coins which o
lade their exportation to foreign countries lc
> a mercantile commodity, more profitable ir
an their retention and use at home as si
oncy. It followed as a matter of course
not designed by those who established d
e bank, that the bank became, in efTect, a si
ibs'itute for the mint of the United States. In
Such was the origin of a national bank ri
irrencv, ahd such the beginning of those p;
fficulties which now appear in the exces. ti
ve issues of the banks incorporated by the p
irious States. c<
Although it may not be possible, by any rc
[jislative means within our power, to ci
lange at once the system which has thus ni
?en introduced, ami has received the ac- R
liescence of all portions of the country, it b;
certainly our duty to do all that is consist- st
it with our constitutional obligations, in vi
eventing the mischiefs which are threat- n
icd by its undue extension. That the ef- 1
rts of the fathers of our Government to vv
lard against it by a constitutional provis- w
11 were founded on an intimate knowledge ai
O ,
the subject, has been frequently attested ?
f the better experience of the country. n
he same causes which led them to refuse h
eir sanction to a power authorising the n
tablishmcnt of incorporations for banking ai
irposes, now exist in a much stronger de- w
ee to urge us to exert the utrtnost vigilance si
calling into action the means necessary ai
correct the evils resulting from the unrtunatc
exercise of the power, and it is to
t hoped that the opportunity for effecting m
is great good will be improved before the I*
untry witnesses new scenes of embarrass- k
ent and distress. cf
Variableness must ever be the charac- gi
ristic of a currency, of which the precious
etals are not the chief ingredients, or
rich can be expanded or contracted with- m
it regard to the principles that regulate the th
lue of those metals as a standard in the ai
ineral trade of the world. With us, bank th
sues constitute such a currency, and must
er do so until they arc made dependent P'
i those just proportions of gold and silver, vi
a circulating medium, which experience th
is proved to be nccessar}* not only in this, tf
it in all other commercial countries. p
'here those proportions are not infused h
to the circulation, and do not control if, it tc
manifest that prices must vary according ti
the tide of bank issues, and tlie value and n
ability of property must stand exposed to tl
1 the uncertainty which attends the admin- tr
[ration of institutions that arc constantly tl
ible to the temptation of an interest dis- e:
ict from that of the community in which c
ey arc established. tl
The progress of an expansion, or rather n
depreciation of the currency by excessive r(
ink issues, is always attended by a ioss to tl
e laboring classes. This portion of the 11
immunity have neither time nor opportu- s
ity to watch the ebbs and flows of tl?c v
loney market. Engaged from day to day 0
i their useful toils, they do not perceive tl
lat, although their wages are nominally ^
le same, or even somewhat higher, they c
re greatly reduced in fr by the rapid (j
icrease of a spurious cui i-ency, which, as 11
appears to make money abound, they are ?
I first inclined to consider a blessing. It c
: not so with the speculator, by whom this f
peration is better understood, and is made
> contribute to his advantage. It is not 1
ntil the prices of the necessaries of life be- I
i -? i ? i r
ome so dear tnat tnc laoormg classes can
ot supply their wants out of their wages, c
mt the wages rise, and gradually reacn a
istly proportioned rate to that of the pro- *
uets of their labor. When thus, by the
epreciation in consequence of the quantity f
f paper in circulation, wages as well as *
rices become exorbitant it is soon found c
laf the whole effect of the adulteration is c
tariff on our home industry for the benefit ]
f the countries where gold and silver cir- 1
ulate and maintain uniformity and mode- (
ation in prices. It is then perceived that j
le enhancement of the price of land and J
ibor produces a corresponding increase 1
l the price of products, until these products l
0 not sustain a competition with similar 1
nes in other countries, and thus both man- J
factured and agricultural productions cease (
) bear exportation from the country of the (
purious currency, because they cannot be v<
old for cost. This is the process by J
rhich specie is banished by the paper of k
le banks. Their vaults are soon exhaust- J
d to pay for foreign commodities; the
icxt step is a stoppage of specie payment?
total degradation of paper as a currency I
?unusual depression of prices, the ruin of t
ebtors, and the accumulation of property <
1 the hands of creditors and cautious cap- 1
alists. i
It was in view of these evils, together 1
nth the dangerous power wielded bv the j '
lank of the United Suites, and i's reptig-; '
O y
mds. From the returns made by thevaous
Registers and Receivers in the early
art of last summer, it was perceived that
ic receipts arising from the sales of the
ublic lands were increasing to an unpre- <
Ddented amount. In effect however, these
?ceipts amounted to nothing more than
redit3 in bank. The banks let out their
otes to speculators; they were paid to the ;
.eceivers, and immediately returned to the
anks, to be lent out again, being mere inruments
to transfer to speculators the most
aluable public land, and pay the Governleut
by a credit on the books of the banks.
'Iwse credits on the books of some of the
estern banks, usually called deposites,
ere already greatly beyond their immedite
means of payment, and were rapidly
icreasing. Indeed, each speculation furisled
means for another; for no sooner
an one individual or company paid in the 11
oies, than they were immediately lent to j i
nather for a like purpose: and the banks j1
ere extending their business and their isies
so largely as to alarm considerate men, j
ud render it doubtful whether these bank
edits, if pcrmitled to accumulate, would '
timatcly be of the least value to the Governent.
The spirit of cxpnnsion and specution
was not confined to the deposite |
inks, but pervaded the whole multitude !
banks throughout the Union, and was h
ving rise tp new institutions to aggravate !
/> evil. " -L
The safety of the public funds, and the
iterests of the people, generally, required
lat these operations should be checked; j
id it became the duty of every branch of j
ie General and State Governments to i
Jopt all legitimate and proper means to j
roduce that salutary effect. Under this !
iew of my duty, I directed the issuing of
ie order which will be laid befo-e you by j
ie Secretary of the Treasury, requiring '
aymcnt for the public lands sold to be made j
1 specie, with an exception until the fif- j
?nth of the present month in favor of ac- j
ml settlers. This measure has produced '
lany salutary consequences. It checked I
ie career of the western banks, and gave |
torn fl flditional strength in anticipation of
,VM* j~f r>- # i
ie pressure which has since pervaded our ;
astern, as well as the European commerial
cities. By preventing the extension of
ie credit system, it measurably cut off the
icans of speculation, and retarded its prog2ss
in monopolizing the most valuable of
ie public lands. It has tended to save the
ew States from a non-resident proprietorhip,
one of the greatest obstacles to the ad- >
ancement of a new country, and prosperity !
fan old one. It has tended to keep open j
lie public lands for entry by emigrants, at j
iovcrnment prices, instead of their being
ompelled to purchase of speculators at
louble or treble prices. And it is conveyng
into the interior large sums in silver and j
[old, there to enter permanently into the j
wrrency of the country, and place it on a
inner foundation. It is confidently beicved
that the country will find, in the moives
which induced that order, and the liap>y
consequences which will have ensued,
nuch to commend, and nothing to conlenin.
It remains for Congress, if they approve
he policy which dictated this order, to folow
it up in its various bearings. Much
[ood, in my judgment, would be produced
w nmhihiiinfT sales of the nublic lands, ex
V I o I
:ept to actual settlers, at a reasonable re.
luction of price; and to limit the quantity
vhich shall be sold to them. Although it
s believed the General Government never
>uglit to receive any thing but the cousti- ,
utional currency in exchange for the public j
auds, that point would be of less importance '
f lands were sold for immediate settlement
md cultivation. Indeed, there is scarcely
i mischief arising out of our present land ;
system, including the accumulating surplus j
)f revenue, which would not be remedied at j
>nce by a restriction on land sales to actual j
settlers; and it promises other advantages i
o the country in general, and to the new ]
States in particular, which cannot fail to re. i
:eive the most profound consideration of
J ongrcss.
Experience continues to realize the expectations
entertained as to the capacity of
the State banks to perform the duties of fis:al
agents lor the Government. At the
imc of the removal of the deposites, it was
illedged by the advocates of the Hank of
he United States, that the State banks,
whatever might be the regulations of the
Treasury Department, could not make the
transfers required by the Government, or
negotiate the domestic exchanges of the.
country. It is now well ascertained that
J
the real domestic exchanges, performed
through discounts, by the United States
Bank and its twenty-five branches, were at
least one third less than those of the deposite
banks for an equal period of time; and if
a comparison be instituted between the
amounts of service rendered by these institutions,
on the broader basis which has been
used by the advocates of the United States
Benk, in estimating what they consider the
nance to our constitution, that I was induced
^o exert the power conferred upon me by
:he American people, to prevent the coninuance
of that Institution. But, although
various dangers to our republican instituions
have been obviated by the failure of
hat bank to extort from the Government a
enewal of its charter, it is obvious that title
lias been accomplished, except a salulay
change of public opinion, towards restorng
to the counry the sound currency prodded
for in the constitution. In the acts
>f several of the States, prohibiting the cirujation
of small notes, and the auxiliary
nactments of Congress at the last session,
orbidding their reception or payment on
ublic account, the true policy of the counry
has been advanced, and a larger portion
r :? ?
i uiu jutciuur* uiuiuia iiuuouu jijki uiir Uir- |
ulating medium. These measures will I
robably be followed up in due time by the 1
nactment of State laws, banishing from cir- j
ulation bank notes of still higher denomunions.;
and the eL;-..ct may be materially^
romoted by further acts of Congress, foridding
the employment, as fiscal agents,
fsuch banks as continue to issue notes of
>w denominations, and throw impediments
1 the way of the circulation of gold and
ilvcr.
The effects of an extension of bank ereits
and over-issues of bank paper, have been j
:rikinfflv illustrated in the sales of nublic
domestic exchanges transacted oy it, tne
result will be still more favorable to the
deposite banks.
The whole amount of public money transferred
by the Bank of the United States in
183*2, was 16,000,000. The amount transferred
and actually paid by the deposite
banks in the year ending the first of October
last, was $39,319,899; the amount
transferred and paid between that period
l#d the 6th of November was $3,399,000;
and the amount of transfer warrants"outstanding
on that day, was $14,450,000;
making an aggregate of $59,168,894.
These enormous sums of money first mentioned
have been transferred with the greatest
promptitude and regularity; and the
rates at which the exchanges have been
negotiated previously to the passage of the
deposite act, were generally below those
charged by the Bunk of the United States.
Independently of these services, which are
far greater than those rendered by the United
States Bank and its twenty-five branches,
a number of the deposite banks have,
with a commendable zeal to aid in the improvement
of the currency, imported from
abroad, at their own expense, large sums of
the precious metals for coinage and circulation.
In the same manner have nearly all the
predictions turned out in respect to the effect
of the removal of the deposites?a step
unquestionably necessary to prevent the
jvils which it was foreseen the bank itself
would endeavor to create in a final strug- ;
?lc to procure a renewal of its charter. It ;
may be thus, too, in some degree, with the ,
further steps which may be taken to pre. j
rent the excessive issue of other bank paper;
but it is to be hoped that nothing will
low deter the Federal and State authori- (
:ivcs from the firm and vigorous perform- i
ince of their duties to themselves and to the
people in this respect.
In reducing the revenue to the wants of
Government, your particular attention is invited
to those articles which constitute the
necessaries of life. The duty on salt was
laid as a war tax, and was no doubt confirmnri
tr? nccict in niwviftinrrfor thn PflvmPnt
...?? .? .V ... ^
oft lie war debt. There is 110 article, the
release of winch from taxation would be
s^wmiiy auH so beneficially. To this
may be ndJed all kinds of fuel and provis.
ions. Justice and benevolence unite in fa-^"
vorof releasing the poor of our cities from
burdens which are not necessary to the support
ofour Government, and tend only to
increase the wants of the destitute.
It will he seen by the report of the Secretary
of the Treasury and the accompanying
documents, that the Bank of the United
States has made no paymant on account of
the stock held by the Government in that
institution, although urged to pay any nortion
which might suit its convenience; and
that it has given no information when payment
may be expected. Nor, although repeatedly
requested, has it furnished the information
in relation to its condition which
Congress authorized the Secretary to collect
tact session. Such measures as
(41 IIIV/4 A 4lV^fr .
are within the power of the Executive have
been taken to ascertain the value of the
stock, and procure the payment as early as
possible.
The conduct and present condition ofthat
Bank, and the great amount of capital vested
in it by the United States, require your
careful attention. Its charter expired on
the third day of March last, and it has now
no power but that given in the 21st-section,
"to use the corporate name, style, capacity,
for the purpose of suits for the final settle,
ment and liquidation of the affairs and accounts
of the corporation, and for the sale
and disposition ol their estate, real, personal
and mixed, but not for any other purpose,
P- _
a fraud on the country. They are the redeemed
notes ?fa dissolved partnership, but
contrary to the wishes of the retiring partner,
and without his consent, are again reissued
and circulated.
It is the high and peculiar duty of Congress
to decide whether any further legisiation
bo necessary for the security of. the
large amount of public property now held,
and in use'by the new Bank, and for vindicating
the rights of the Government, and compelling
a speedy and honest settlement with
all the creditors of the old Bank, public and
private, or whether the subject shall be left
to the power now possessed by the Executive
and Judiciary. It remains to be seen ^
whether the persons, who, as managers of
the old Bank, undertook to control the Government,
retained the public dividends, shut
their doors upon a committee of the House
of Representatives, & filled the country with
panic to accomplish their own sinister objects.
mav now, as managers of a new Bank,
* * ? W
contiuue with impunity to flood the country
with a spurious currency, use the seven
millions of Government stock for their own
profit, and refuse to the United States all
information as to the present condition of
their own property, and the prospect of recovering
it into their own possession.
The lessons taught by the Bank of the
United States cannot well be lost upon the
American people. They will take care
never again to place so tremendous a power
in irresponsible hands; and it will be fortunate
if they seriously consider the cotisequences
which are likely to result on a smaller
scale from the facri y with which corporate
powers are granted by their State
Governments.
It is believed that the law of the last session,
regulating the deposite banks, operates
onerously and unjustly upon them in many
respects ; and it is hoped that Congress, on
proper representation, will adopt the modifirations
which are necessary to prevent this
consequence.
The report of the Secretary of War, ad
interim, and the accompanying documents,
all which arc herewith laid before you, will
give you a full view of the diversified and
important operations of that department during
the past year.
The military movements rendered necessarybythe
aggressions of the hos'ile portions
of the Seminole and Creek tribes of
Indians, and by other circumstances, have
ootlwo r>mnlAvmpnt nf nPArlv
IVl|UUbU LIIV UVUIV vuijnv^ tuvuf ..
our wholcr regular force, including the marine
corps, and of large bodies of militiaand
volunteers. With all these events, so for
as they were known at the seat of Government
before the termination of your last
session, you are already acquainted; and it
is therefore only needful in this place to lay
before you a brief summary of what has
since occurred.
The war with the Seminoies during tl?e
summer, was, unuui pan, emcay ww? ?__
to the protection of our frontier settlements
from the incursions of the enemy; and, as
a necessary and important means for the
accomplishment of that end, to the maintenance
of the posts previously established.
In the course of this.du y, several actions
took place, in which the bravery and 1
discipline of both officers and men were
conspicuously displayed, and which I
have deemed it proper to notice, in respect
to the former, by the granting of brevet
rank for gallant services in the field. But
as the force of the Indians was not so far
weakened by these partial successes as to
lead them to submit, and as tlieir savage
inroads were frequently repeated, eariy
mcasures were taken for placing at the disposal
of Governor Call, who, as commander-in-chief
of the territorial militia,had been
temporarily invested with the command, an
ample force, for the purpose of resuming
offensive operations, in the most efficient
manner, as soon as the season should permit.
Major General Jesup was also directed,
on the conclusion of his duties in the
Creek country, to repair to Florida, and
assume the command.
The result of t!?e first movement made
by the forces under the direction of Governor
Call, in October last, as detailed in the
<u>Amnaniriiiif nnnpN. fvcited much sur
ijr
prise and disappointment. A fufl explanation
lias been required of the causes which
led to the failure of that movement, but has
not yet been received. In the mean time,
as it was feared that the heal'b of Governor
Call, who was understood to have suffered
much from sickness, might not be
adequate to the crisis, and as Major General
Jcssup was known to have reached Florida,
that officer was directed to assume the
command, and to prosecute all needful opera;
ions with the utmost promptitude a>d
vigor. From the force at his disposal, and
the dispositions he has made, and is instructed
to make, and from the very efficient
measures which it is since ascertained have
been taken by Governor Call, the**? is reason
ro hope that they will soon be enabled
to reduce the enemy to subjection. In the
mean time, as you will perceive from the
report of the Secretary, there is urgent necessity
for further appropriations to suppress
these hostilities.
* 1 ^f htiwonifir tl
Happily lor inc mira-s .*> ui uuiumutj,
hostilities with the Creeks were brought to
a close soon after your adjournment, without
that effusion of blood which at one time
was apprehended as inevitable. The unconditional
submission of the hostile party was
followed by their speedy removal to the country
assigned them west of the Mississippi.
The inquiry as to alleged frauds in the purchase
of the reservations of these Indians,
and the causes of their hostilities, reqeested
by their resolution of the House of Representatives
of the 1st of July last, to be made
by the President, is now going on, through,
the agency of commissioners appoimcd for
that purpose. Their report may be expected
duriug your present session.
A.
or in any other manner wnatsoever, nor ior
a period exceeding two years after the expiration
of the said term of incorporation."
Before the expiration of the charter, the
stockholders of the Bank obtained an act of
incorporation from the Legislatureof Pennsylvania,
excluding only the UuitedStates.
Instead of proceeding to wind up their concerns,
and pay over to the United States
the amount due on account of the stock held
by them, the President and Directors of the
old Bank appear to have transferred the
books, papers, notes, obligations, and most
or all of its property, to this new corporation,
which entered upon business as a continuation
of the old concern. Amongst
other acts of questionable validity, the notes
of the expired corporation are known to
have ceen used as its own, and again put in
circulation. That the old Bank had no
right to issue or re-iseue its notes after the
expiration of its charier, cannot be denied,
and that it could not confer any such right
on its substitute, any more than exercise
it itself, is equally plain. In law and honesty,
the notes of the Bank, in circulation at
the expiration of its charter, should have
been called in by public advertisement, paid
up as presented, and, together with those on
hand, cancelled and destroyed. Their reissue
is sanctioned by no law, and warranted
by no necessity- If the United States
be responsible in their stock for the pay|
ment of these notes, their re-issue by the
| new corporation, for their own profit, is a
' fraud on the Government. If the United
! States is not responsible, then there is no
| legal responsibility in any quarter, and it is