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PUBLISHED e v e k v t n u u sr n a y morning, BY JAMES VAN NEKS, In th.? “ Granite Building,” on 1-te corner of Oglcthorpo and Randolph Streets. TE RMS: Subscription—three iio!Urs |**-r annum, piytbl* !B a'lvattae , three <1 >ilsHS and a half at the end of si* in >nth<9, or four dollars, (in all cases) where pay in nit i< nit mile before toe expiration of the year. N su'neri|>'i.>n received for less than twelve months wi'ho it payment in advance, and no paper discon tinued, except at thu Optran of ‘lie iijitor, until ail arrearages are paid, ADVBariSFME.vrs conspicuously inserted at one dol lar per one li ndrcj .vor Is, or iess, fur the first ur nerlton, an I fifty cents lor every subsequent contin uance’ Those sent without a specification of the u mber ofinseriims, will he published until ordered out- and charged accordingly. 2. YEARt.tr Aovektiscmexts. —For over 24 and , li >t exceeding 3i lines, tifiy ilollars per annum ; for over 12 and not oxceeding 24 lines, thirty-five dol lars per aonn ii ; (or less than 12 lines, twenty dol lars per annum. 2. All rule an i figure work double the above prices. Leual Advertisements published at the usual rates, anj with 3trict attention to :!tc requisitions of the law. Ai.f. Syi.Es regulated by law, must be made before the court house Jo or, between the hours of 10 in the morning and four hi the evening—those of land in the county where it is situate; those of personal property, where the letters testamentary, of aJinin istra'i m or of go irdiassqip wire obtained—and are requited to be previously alveriised in some public gazette, as follows: Sheriffs’ S ales under regular executions for thir ty days; under mortgage li fas sixty days, before the day of sale. Sales of land and negroes, by Executors, Adminis trators or Guardians, for sixty days before the day of sale. Sales of personal property (except Negroes) forty days. Citations bv Clerks of the Courts of Ordinary, upon application fir letters of administration, must be pub lished foi thirty days. Citations upon application for dismission, by TC.xec utors, Administrators or Guardians, monthly for six months. Oit de its of Courts of Ordinary, (accompanied with a copy of the bond or agreement) to make titles to land, must be published three months. Notices by Executors, Administrators or Guardians, of application to the Court of Ordinary for leave to sell the land or negroes of an estate, (bur months. No tices hy Idx editors or Administrators, to the i debtors and creditors of an estate, for six weeks. 1 Sit eii i EEs’. Clerks of Court Sic. will be allowed the usual deduction. 1 U T Letters on business, must be post paid, to entitle them to attention. It E P O R T OK THE SECRETARY OF THE TREASURY ON THE FINANCES, &,C. In obedience to the directions of the act of Congress, ot the 10th of May, ItfOO, supple mentary to the “Act to'establish the Treasury Department,” the Secretary of the Treasury respectfully submits the following report: 1. OF THE PUBLIC REVENUE & EXPENDITURES. The receipt* and expenditures for the year 1840, were as follows : The available baltncc in die Treasury on die Ist of January, IK4'), (exclu sive of amount deposited wuli the Stati s, trust lun.is, and indemnities, and the amount due from banksvvhich failed in 1837,) was, as appears by the hooks ofihe Register of he Trea "ry 33,GG3,053 GO The leeeip's in'o the Treasury during the year 1849 were, from Customs §13,499,502 17 Lands 3,292,285 53 li nd of the Hank of the tinned Staled 1,771,513 80 Miscellaneous anl inci ,denial sources 233 258 23 Ranks fad and in 1337 713,629 55 Treasury notes issued 5,559 54; 51 Ma'-ing __ 52,350,820 41 The cxpeudi :urus in fie same year were, !br Civil ir.st, foreign inter course&iuiscidlaiieou* §5.492,030 98 Miliary I department 10,8 iti,236 45 Naval Department G, 031,088 S3 Futilic I debt 11,982 7 7 Add outstanding war rants issued prior to Ist January, 1811 1 416,334 28 Trcas’y notes n deemed including interest 4,045 802 05 Leaymg a liahtnce hi the Treasury on tile Ist of January. 1641, of 037,415 G3 Thercciipts fiout the 1-t of January to the 4:li March, 1811. were, say From Customs ‘*‘1,974 836 46 Lauds 386,1-lS 5G Miscellaneous and incr dental sources 31.349 65 Burks tail din 1837 18,U 0 00 Treasury Notes i-cited per act of ilstMarch, 1840 1,110,C1l C 8 Treasury n-Hes issued un der act o f 15th Februa ry, 1841 73 6SI 32 IJ.md of the Rank of the United States 17,913 00 Mak-ng with the balance in the Trea su-y, January 1, 1811 5,139,885 10 The e.Ypendnurea I'nr the same period wire, etvil list, miscellaneous, anti foreign intercourse, 943 517 14 Military Department 2.273.0!.7 11 Naval Department 759.343 (it) Public Debt 3 61- 70 Ticasury Notes redeemed, includiiiff interest *G47 590 09 leaving the balance in tbe Treasury oil tbe 4ih March, 1841 572,7 IS 4G The balance ts appropriations outstnn duiii on the 4 bof March. 1811, were (Statement A.) Civi foreign intercourse and miscella neous §5,237,234 28 Military 15 991,895 15 Naval 6,910,268 69 Public Debt 6,387 30 Treasury notes issued prior to the Ist of January, 1811. and outstanding on the 4ih March, 1811 3 573 220 CO Do. issued under the act of IS4O. from Ist January to tbe 4 h of March, ISfl, which may. and most of which j robabiv will lie presented in pay ment of public dues during the year 1811 1 110.611 03 Interest estimated at about 300,000 00 Making in the aggregate $33 1-9.616 50 Os this there will be required for the services of the current year 24,210,000 CO Additional appropi ia!ions required by the War Department for the year l§4l, viz : Fortifications and works of defence $ 1,435,5C0 00 For armaments > f tonifi cations and ird mice sto. cs 220,000 00 For payment of arreara ges and current expen ses, and taking care of public property on roads harrors, rivers, &c. 40,193 12 For arrearages Dr pre venting and suppros sm” I ndiau hostilities 825.637 86 Making 26,731,336 98 The actual and estimated means un der the existing laws t > meet these demands are, viz : The available balance in the Treasury on the 4;h March, IS4l—see statement B. 646.503 12 Treasury notes author ized under the act of 1840, issued after the 3d March, 1311 413 592 72’ Treasury notes author ized by the act of 1841 to be i>s ted afier the 4th March, 1841 5,000,000 00 Receipts fro II customs est 111 I ed at 12,000.000 00 llecp-’.s trnm public lands 2 500,0( 000 Miiccll.uieou> sources 170.000 00 leaving improve!- i for.of ;he demands for tin- pi sen y u . the - nil of 6,000,941 14 Tber- will a!s., iv.*!m i t.ir public dues in ill e pres nt year, .v payable in 18 42. T.o s iiy uot s a issues of me or. -ent y ear, v is : * This iie ii, and the item of expenditure for the pavtn nt <*f Trv i m > ini'es lu>m Ist of January to 4 i's \I ir 1811 : -i *-tft a >o'i! sSOO 000 of Treas ury n.■ i■ w i l i v ■■ re-. • i ai the Department on a c mu! nl istum ■ I trmj i >a’ period, but for which the wutT inis “cie not ts--uvd until a subsequent pe ri -ai. VOLUME I.] Issued under the act of 1841 prior to the 41. March §073,681 32 Do. do. 1840, after the 3d March 413,592 72 Do. do. 1841, to be issued after i:.e 4!h of Match, and included in the esti mate of wavs it means 5 .000 OCO GO ’ 6 087,274 04 Making an aggregate of debt and deficit to be provided for in fhis and tile en suing year, of 12,088,215 18 This estimate is founded on the assump tmn that all the moneys in the public depo-ilories can be at once made a vadab!*', and fhatanv and all of the demands upon the Treasury can be satisfied, so long as money to a sutfi • cienl amount remains in any or all the depositories.; But that is by no means the case ; while the power to issue Treasuiy notes exists, there should be at all times, for the con venience of the Treasury, a sum e qual to §1,000.000. in tile various de positories subject to draft. When that power i expended, the sum should be increased to not less than 4,000 000 18 Which sum added to the above, makes the estimated deficit §l6 085,215 18 But the undersigned feels it his duty to call the attention of Congress to the more imme diate demands of the public service, and the means by which those demands are to be supplied. The sums which will be required from the Ist of Jtitle to the olst of August next, are es timated as follows, viz : For Ihc payment ol Treasury note/ which will tall due wiiiiui that nine, and the interest theieon, about $2,756,800 00 Ba.ancefor tailing the Gin census, 294,000 00 For llits civil list, miscellaneous and foreign intercourse, 1.309,308 37 Military service, 4,591,809.00 Naval do 1.844,000 00 Public Debt, 6,387 09 Expenses of the extra session of Con gress, 350,000 00 Making about, 11,151,693 37 The ways and means in the pow er of the Treasury, and which will probably accrue under existing laws, as follows : 1. Funds in the ‘treasury (as per statement C,) $644,361 16 2. Treasury notes author ized by tiie act of 15th of February, 1841, 1,505 913 91 3. Estimated receipts from the customs 3 000.000 00 do do the lands, 700,000 00 do do the miscel laneous somces, 50,000 00 .Making, 5.900,305 07 And leaving a deficit of 5,251,388 30 To with it add the sum recommended to be kept in ilte Treasury to meet any emergencies of the public ser vice, viz : 4,000,000 00 Making an aggregate of 9,251 388 30 In another part of this paper the views ol the Department as to the mode of providing for the above deficit, together with (he residue of the existing public debt, will be presented. From the yeai 1816 to 1837, a per.od of twenty-one years, the revenues con stantly exceeded the expenditures. Tlie average animal surplus ilumig that time was §11,464,226 87, (see t..bie3 1 and 2 ) making an aggregate excess of §240 748,764 27. Us this there was applied to the extinction of me national debt 5208,792,127 41, and mere was under the provision of the act of the 234 of June, 1836, de posited with the States S2B Uil 644- 91, and there remained oil tiie Ist of January, 1837, m the Treasury of the United Stales including die <• . -i. .ton to the Slates, a siuplus of 17.1U9,4/i 20 l’liere were, also, outstanding debts due unJ lullig due to the Treasury, ai isiuo from oilier sources than those of the ordinary revenue, and which were ai;i b tween the Ist ol Janua ry, 1837, and 4 hoi March 1841, the amount ol [see -tatenient DJ 9,124,747 00 There were also, issued within that pe riod, auJ outstanding <>n the 4th jof March, IS-IL, Ttca ury notes to tiie an,out of 5 643 512 04 .Vlakin-r the agsresate available means which were in the I reusury oil the T.-t us January, 1837, which came into it prior to tin- 4th March IS4I, over and above tiie current revenue 31,882,752 66 From which deduct the amount [less the trust funds] remaining in the Treasury on the 4<h March, 1841, 572,718 46 And there appears an excess of ex penditure over tiie current revenue U §31,310,014 2C It is proper to remark that the entries on the books of the Register of the Treasury do not always show tiie tiue dates ol the receipts and ex|)endn tires. An item involved in the above statement (table D) will serve to illus trate this fact. Tbe sum of ssl 2,1.16 47 was, on ihe 2,1 and 31st of October, 18-10 paid by the Bank of the United Stales on its lasi bond to William Armstrong, superintendent at Fort Gibson, by order ol tbe Secretary o( War. Though this sum was in fact received and expended on those days, it did not find its way into tlie ollice ol the Register until tbe 4th of March, 1841, on which day it ap pears on his books both as a receipt and an expenditure. Thus and to this extent, within the last four years, were the expenditures pushed be yond the amount of the revenue, i'hey were made to absorb the surplus in the Treasury and the outstanding debts due to the United Slates, so that the Treasury was, on the 4ih of March, 134iz]exhansied of its means arid subject to heavy and immediate liabilities. It was already burdened with a debt incurred in time of peace, and without any adequate re sources except the authority granted by law to augment that debt. As vet no provision has been made to re duce this debt or to check its constant and ra pid increase. We find it, therefore, as far as past legislation and financial arrangements chracteriz.e it, a permanent and increasing na tional debt. The temporary expedients bv which it has been sustained no not at all] vary its essential character. The attention of Congress is respectfully invited to the necessity of early and effectual measures to prevent its further augmentation. The obvious remedy is to increase the reve nue as far as may be without unreasonably burden i g commerce, and to reduce the ex penditures within the limits of strict economy. But as it may nut comport with the views of Confess to no into a revision and adjust ment of the customs so long before the act of March 2, ISJ3, comes to have its final and permanent operation, the undersigned would respectfully recommend, as a temporary mea sure, the levy of a duty of 20 per cent ad va lorem on all articles which are now free of du ty, ot which pay a less duly than -20 percent except gold and silver, and the articles speci fically enumerated in the sth section of the act of March 2, 1533. If this measure he adopted, it is estimated i that there will be received into the Treasury from customs, in the last quarter of the pres ent year, about 85.300.000; in all of the year 1 1842, about $*.22,500,000; and in the year 1843, after the final reduction under the act of March i 1833, about 8-0,500.000. The details of lhis estimate will he found in the accompanying paper, marked E, and enclo , sures. It is believed that, after the heavy expendi tures required for the public service in the present year shall have been provided for, the revenues which will accrue lrom that, or a THE COLUMBUS TIMES. nearly proximate duty, will be sufficient lo de liuy the expenses of Government, and leave a surplus to be annually applied to the grad ual payment ol the national debt, leaving the pr* ceeds ol the frublic lands to be disposed of as Congress shall think lit. I The general principles on which the final revision ol the tanll is to rest are perhaps simple and easy to be apprehended, but the work ol revision itself, in its adaptation and detail, must be a work of time. It should be done on calm reflection and careful deitbera -1 ion, with a view to reconcile, as far as possi ble, the conflicting opinions, and to promote all the various interests of the whole People ol these United States. And it may be im portant, in that adjustment, not only to recip rocate on lair and tcjiiai principles, and in a liberal spirit, the concessions which may he accorded to our commerce by foreign nations, but also to do justice to our own citizens by meeting in a like eaual spirit any heavy ex actions or prohibitions which foreign nations may think lit to impose upon the importation of our staple productions. Some legal provisions are also required lo correct inequalities between the duties upon sugar and molasses, and the drawbacks upon refined sugar and rum, manufactured or dis ti.led from foreign materials. The relation between the duty and the drawback was ad justed by the acts of January -21st, 1829, and May 29th, 1830, since which lime the duties have been and minished, while the drawbacks remain tiie same. And a provision of law de claring that all non enumerated articles which bear a similitude to any enumerated article chargeab'e with duty shall pay the same rate of duty with the article which it most reseni blen, would save a large sum annually to the revenue, and prevent much annoyance and litigation between the importer and ihe officers charged with the collection of the customs. of tiie public debt. But it is not expected that any modifica tion of lire revenue laws will he operative to supply the immediate wants of the Treas ury, and to pay the debts which fall due ill the present and in the ensuing year. A further loan is necessary to elfcfct these objects, and the only questions that ctfn arise ate as to the mode of procuring the loan, the character t f the securities, and the assumed duration of the debt. It would, in the opinion of the undersigned, be unwise to charge upon the commerce or the resources of the country, in any form, the burden of paying at once, or at all nastily the national debt. Before that is done, measures of restoration and relief are required. The currency of the country should he restored, and commerce and industry relieved from their present state of embarrassment and depres sion, and a benign and liberal policy on the part ol the General Government should cMI ibrih once more the hardy industry and active enterprise of our people, and the vast resour ces ol our country. If we assume the period of from five to eight years as that in w’hicit this debt can be paid without inconvenience and embarrass ment—and the time appears to be she, rtenough —we have one of the most essential elements ■ on which to form our judgement as to ihe best and most convenient mode in which the loan can be kept up, and the credit of the Govern ment sustained. In the inception and during the progressive increase of a national debt, tne issues of Treas ury notes, though dangerous and delusive, have yet their*advantages. They need not be issue;! faster than the actual wants of the Treasury require; and the power to issue any given sum is, for ai! effective purposes of im mediate expenditure, a fund it( tiie Treasury available to that amount. But, when the t ebt has acquired its maximum and ceases to accumulate, or when it becomes larger than the amount necessary to be kept tut hard to meet the current wants of the Tieasury, these advantages disappear. This mode of loan then becomes to the Government what tiie wale m market of new promissory notes, for the purpose of raising money to take up old promissory notes, is to an individual. It is the issue of Treasury notes to take up other Treasury notes year alter year in succession ; and, under those circumstances, it is inconve nient and expensive. But the raising of money hy the issue of Treasury notes is objectionable, because it is deceptive ; by this means a heavy debt may be raised and hastened permanently upon the country, the amount of new issues being in volved with the payment of the old ; while the People, and even those who administer the fi nanc r s, may not be impressed with the important Let that a national debt is created or in the process ol creation. Therefore, in the opinion of the undersign ed, when a national debt does exist, and must continue for a time, it is better that it should be made a funded debt, according to our an cient financial usage, li is then sheltered by no cover, and is the subject ol no delusion.— It is open, palpable, true; the eyes of the country will be upon it, and will be able at a glance.to mark its reduction or its increase ; and it is believed that a loan for the requisite amount, having eight years to run, but re deemable at the will of the Government, on siz months’ notice, could be negotiated at a much less rate of interest than Treasury notes. Much expense would also be saved in dispen sing with the machinery of the issue and pay ment and cancelling ot Treasury notes. It is therefore respectfully recommended that a sum sufficient to pay the debt at pres ent existing, and such as will necessarily ac crue in this and the ensuing year, be raised on loan for the lime, and on the condition above suggested. ON KEEPING AND DISBURSING THE PUBLIC MONEY. The undersigned would also respectfully invite the attention of Congress to the present mode of keeping and disbursing the public moneys; and also to the subject of the creation or employment ol a fiscal agent to he charged with the performance ot these and other du ties. The subject is one of great importance, both to the Government and to the communi ty. Such agent or depository ought to unite, m the highest practicable degree, the safety of the pubhc tuuds, and convenience and econ omy in their administration; and it should, if possible, be so selected or framed as to exert a salutary influence over the business and cur rency of the country. The mode of keeping and disbursing the ptthiic money, provided by the act of July 4, 1840, will be found, on comparison with that heretofore chiefly used hv the Government, eminently deficient in all these essential requi sites- The financial history of the United States, especially tor the last twelve years, furnishes abundant proof that the public mon ey is unsafe in the custody ol individuals, and that their official bunds are no sufficient security for its safe keeping and faithful ap plication. W ilhin the period above named, many receiving officers connected with the Treasury Department have become defaulters to the Government. The aggregate loss from that cause within that period, as shown by the hooks of the Department, amount to 52.0-20,- 500. but a small part of which will probably be recovered from their bonds. It is true that, in anv system which can lie adopted, some part of the public money must, iti the process of collection, pass through the hands of indi- “THE UNION OF THE STATES, AND TIIE sovereignty of the states.” COLUMBUS, GEORGIA, THURSDAY MORNING, JUNE 24, 1841. vidua is, and be subject to their dedications; but the act u July 4, 1840, extends and con tinues the risj beyond the period of collection, and subjectssarge masses which, in the fluc tuations of qmnneree, sometimes accummu late, to the situe dangerous custody. Nor or.iv is tiie public money in the hands of individuals more exposed to loss from ordi nary defalcations than when deposited in a well regulated bank; but the Government is also liable to the risks of fire, robbery, and oth er casualties, occurring either in deposite or transitission, from which it is entirely protec ted wlen a well regulated bank is the depos : itorv and the fiscal agent. Tht present systen is aiso, in many respects, ■ cumbrous and inconvenient. Its tendency is i (o center the disbursements of the public mon -1 ies at some of the Eastern cities, chiefly at New York. That being the great commer cial emporium of the United States, is the point a*, which funds are the most valuable, and,, therefore, the most sought; hence those who are entitled to payments out of the pub lic Treasury claim them there. It is true there is a general discretion in the head of the Deparlmant to refuse or grant the favor of such payments according to its convenience; but when the currency is deranged, and the premium on exchanges is high, this discretion involves discrimination to a large amount among creditors equally entitled. It then be comes a dangerous discretion, and one that ought not to exist. But, under the present system, it cannot be avoided, save in a few cases, without discharging every public liabil ity at the most favored point. This would at once center all the disbursements at a few of the Eastern cities, and involve the Treasury in the risk and expense of transporting the pub lic funds from -be various jioints of collection to the places of disbursement. An item of less importance, but still worthy consideration, in settling on a permanent and economical arrangement, is the direct expense of the present system, including the cost of the buildings for the depositoiy of the public mon ey, and the salaries ol the officers and their clerks who receive and dbßurse it. No por tion of this risk, inconvenience, or expense need to be incurred where a well regulated bank is made the fiscal agent. But the present system is also, in the opin ion of the undersigned, injurious to the busi ness and currency of the country. Instead of permitting the credit and the finances of the Government to lend their indirect but efficient aid in sustaining the credit and regulating the currency of the country, it brings into direct hostility those important interests. In the progress of the system a sufficient amount of gold and silver to supply the wants of Treas ury must be withdrawn from circulation and locked up in vaults, leaving no representative to sujtply its place in the general cbculalion. A large amount, also, in the hands of those who pay to or receive (Vi m the Treasury, is equally withdrawn from general circulation, and made to flow through those channels alone which lead into and out of the public coffers. The other'avenues of commerce and inter couse are thus deprived of their proportion of the precious metals. Within the flftv-two years during which our Constitutional Government has existed, we have had for two periods of twenty years each, a bank chartered by Congress as a de pository of tiie public monies and as a fiscal agent. We have bad, also, at two intervals, amounting to about nine yeriis, State banks employed tor like purposes; and, during the remainder of the time, trie funds of tl te Gov ernment have been kept and the finances ad ministered partly by the banks and partly by individual officers and agents. The losses sustained by Slate batiks, as depositories, du ring the first period of their employment, ex tending from ISII to 18111, agreeably to a statement prepared by the Secretary of the Treasury in 1833, and revised and republish ed in 1837, were ,*551,000,676. In the latter period, from 1833 to 1837 though no actual loss is believed to have occurred, yet the Treas ury and the country suffered inconvenience and embarrassment from the fiscal arrange ments with those numerous and disconnected institutions. But, during the forty years that the two banks of the United States were the depositories of the public money and the fiscal agents of the Government, no loss whatever was sustained, nor any delay or any expense incurred in transmitting or disbursing the pub lie monies, so far as the agency of those insti tutions extended. Then, as regards the wants of the Treasury merely, the safety of the pub lic funds, and economy in their administration, exjaerieuce lias demonstrated the superior util ity of a bank constituted and adopted by Con gress as a fiscal agent, ft lias also proved to tis that the act.ve business of the country, its currency, its credit, its nuluslty, and its com merce, are intimately connected with dependent upon the financial arrangements of the General Government. If they be wise and beuffieent, they indirectly, but efficiently, promote those great interests ot the People; if constant and uniform in their action, they give to those interests confidence and stabili ty- v n • . I -f* 11- -f. b *l,■ *- rtf, Since (he removal of the pnb.ic deposites £ from the Bank ot the United States, in 1803, j l;,e Government has had no permament sis- , cal agent and no definite financial system. , All has been experiment, transfer, and change. ; The business of the country has y ielded to the , unsteady impulse, and moved forward with . wild irregularity; atone tune stimulated to ( excessive action, at another sunk intolethar- ( gv. And, in providing for the wants ol the , Treasury, it is surely important to look, also, to the wants and the welfare of the coinrou nitv, fiom the products of whose industry the Treasury is supplied. And as regards those great interests, we find the testimony of past years is no less distinct and strong in favor ol a moneyed institution charlered liy the General Government, and possessed of its confidence and credit. Ihe period embrac.uglhe last ten years ol tneex stence of the late Bank ol tire United Sia.cs, as the fiscal agent is tresh in the memory o. us ail, and is looked back to as a periou ot orreat public prosperity; and though o;her causes did, doubtless, co-operate to produce that favorable condition o! things, yet one of the Governing principles on wnich depended the* steady advance of the country in com merce, in industry, and in substantial wealth, was the existence of a fiscal agent established bv the General Government, and charged with the equalization of exchanges, and the regulation of the currency. In the present condition of our country, the relief to be anticipated from such an institu tion cannot he immediate, hut must he the wotk of time. 4he business ot the country would, however, in the opinion ot the under signed, steadily and certainly revive under its influence. In whatever point of light the undersigned is able to . this subject, he is irresistibly led to the conclusion that such fiscal agent, so framed as to possess those important t unctions, | is alike essentia! to the wants of the Treasury i and of the community. Such an institution ! should be framed with deliberation, for it ; must have high duties to perform, and exten- I sive interests to protect and promote; and it ; should he granted with care, for it will be lia i j hie to great and dangerous abuses. As the i fiscal agent of the Government and an elfeo- live reguiatior of the currency in a wide spread community, it should he steady and uniform tn its action, and fixed and stable in its char acter. I be undersigned has no doubt of the pow er ol Congress to create sucii an institution. Experience has proved its necessity to carry out other expressly granted powers; it has been exercised and recognized hy the Legisla tive and Executive Departments of the Gov ernment during four-fifths of the whole period ol our national existence, and it has received the uniform sanction of our highest judicial tribunal. Yet that power has been questioned bv many wise and patriotic statesmen whose opinions are entitled to consideration and res pcct; and in a measure like this ofhiglt polit ical import, which, if wisely conceived and cordially concurred in, must have a great and enduring influence on the prosperity of the country, it is important, as (ar as possible, to obviate objections and reconcile opinion. fl such an institution can be so conceived in principle and guarded in its details as to remove all scruples ouching tbe question of constitutional power, and thus avoid the ob jections which have been urged against those heretofore created by Congress, it will, in the opinion of the undersigned, produce the hap oiest results, and confer lasting and important benefits on the country. ‘1 lie undersigned, therefore, respectfully re cur mends'the creation of such fiscal agent, and the repeal of the act of July 4, 1310, pro viding “for the collection, safe-keeping, trans fer, and disbursement of the public revenue,” except the penal provisions thereof, which will probably require revision and modification. All which is respectfully submitted, T. EWING, Secretary of tbe Treasury. Treasury Department, June 2, IS4I. FROM THE WAR DEPARTMENT. Wak Department, May 31, 1841. Sir.: I propose to bring to your notice, at the present time only such matters confided to the superintendence of the Department of War as, from their nature or pressing emergency, or from the general interest they excite, you insy deem proper to communicate for the in formation of Congress and the public. Although the inspections directed since the adjournment of Congress have been made with the greatest promptness, and furnish an exten sive body of information in regard to the state of the public defences, as well as to the dis cipline and efficiency of the army, and bear full and satisfactory testimony to the impor tance of the Inspector’s Department, yet, from the limited time allowed, and the immense ex tent of territory over which the numerous es tablishments connected with the military ser vice are distributed, the inspections are neces sarily incomplete; and it is therefore not de signed to notice all the considerations sugges ted by the information they afford until a fu ture occasion. In the general condition and disposition of the army there has been no material change since the last annual report from this Depart ment. The regular force stationed in Florida, consisting of eight regiments, and number ing, in the aggregate, by the last returns, five thousand and fifty-seven, it lias been found ex pedient to continue in service in that Terri tory. A few incursions by small detachments of our troops into the fastnesses of the enemy, by which their atrocities have ‘ been signally Visited upon their own heath?, have boon the only exceptions to the general cessation of hostilities which took place last fall, soon after the regiments, reinforced by new recruits and provided with every necessary supply, were prepared for active operations; nor have they been renewed since that time. Offers to negotiate from several chiefs, the device by which those crafty warriors have so often baf fled our arms at the period most propitious to success, were renewed under such circum stances as induced the commanding General once more to embrace them. The strongest confidence appears to have been felt that, with the aid of a suitable amount of funds, applica ble to that object, the whole ot the hostile bands might soon be persuaded to surrender, and abandon the country. This Ine of poli cy'', though tardy in its results, continued to hold out such hopes of complete success as to encourage the late Administration in the belief that this protracted war had at last been brought so near a close as to be no longer a subject of peculiar interest or anxiety. For these reasons it was not thought expedient to check or interrupt the negotiations in progress or, the 4th of March last, by directing a differ ent mode of operations. The result so far, since the negotiations were renewed in the fall, lias been the surren der of four hundred and thirty-one Indians, including about one hundred warriors ail of whom have been transported to the country assigned them, west ot the Mississippi. Some expectation is still indulged by the officer in command that the remaining bands that have so long infected the upper and northern dis tricts of the peninsula will surrender in a short time ; but I regret to state that but little hope can be justly cherished that this unhappy and wasteful war, which has already cost so great a number of valuable lives, and so many millions of public treasure, will be terminated without still further sacrifices. It. appears that, after six months of negotiations, no ac cess has been had to the principal & most pow erful chief, or to any of his followers. Direc tions have accordingly been given for the most energetic and effective prosecution of the war the moment further negotiations shall ap pear useless. Steps have also been taken to increase the efficiency of the means now at the disposal of the officer in command ; and, in the meantime, the retrenchment of every expen diture connected with the service, for purposes not essential in Indian warfare, has been ear nestly enjoined. The many weighty considerations which in vite the immediate attention of Congress to the subject of the public defences generally, and particularly to the works absolutely neces sary to the security of our great commercial emporiums, and the keys to our most valuable resources of every kind, must be so generally understood and app; mated that nothing this Department can urge could add any thing to their force and conclusiveness. To say noth ing of the destruction of property, and our weakened condition in a military point of view, attendant upon the carrying of any of our most assailable points, the penetration of our terri to'” id the seizure of even one of ourstrong ho ;iv a powerful enemy upon the sudden outbreak of war, it would seem to be equally the dictate of patriotism and wisdom to make • due provision against the iniliction of such ; insults to the national honor and character. It has been urged as an objection to the fur ther progress of the works heretofore projec ted for the defence of our extensive sea-coast, that the recent experiments in the use of steam power in ocean navigation, and the ready ap plication of the same powerful agent to the defence of our principal harbors, together with the* late inventions in the means of increasing the destructiveness of shells, must soon intro duce an entire change in the system of coast defence, as well as of maritime war in gener al. It is true that the mental activity, charac | tcristic of the age in every other art and ad- [NUMBER 20. ence, has not been less fruitful in suggesting improvements in the art of war, the value of some of which has already been tested in prac tice, and doubtles others will, in time, prove equally successful. In no department of pub lic affairs may the natural connection and de pendence between all the sciences and inven tions of art be more beneficially illustrated than in the improvement of the means of na tional defence. That the cause of humanity will be promoted in proportion as the existing systems and means of defensive warfare are perfected by new ini’ ruvements, in affording to all nations :eater security to the indepen dent enjoyment of their own acquisitions and forms of society and government; in putting the weak upon a more equal footing with the strong; in rendering wars less frequent, and allowing all the arts of peace to flourish in uninterrupted vigor, cannot be doubted. It is a source of much gratification to observe that several gentleman of high professional distinc tion in the army are employing themselves in these appropriate studies. But while, in car rying forward the plans devised in former years, due regard should be had to the improve ments already introduced in the moans of de - fence, and, as far as practicable, to such mod- : ifications as may be rendered necessary by future discoveries, we must take care, by the most efficient application of the means already known and approved, not to les:; the advantage of present security. 1 The array of well authenticated facts and results of past experience, and the well sus tained reasoning founded iq on them, exhibited in the report ot the board of officers referred to in the accompanying letter of the chief of the Corps of Engineers, appears to be conclu sive in favor of completing the system of de fence therein recommend, so far, at least, as to place the country in what is denominated a good state of defensive preparation against any sudden occurrence of war. To this ex tent the completion of the works heretofore projected may be regarded as indispensable, however defective they may be as a perfect system of national defence. It will be seen from the estimates stated in the re port alluded to, that to effect that object will require an ap propriation of $9,693,547 upon the fortifica tions, and $2,493,000 for the armaments ; ma king together the sum of $12,186,547. The obligation of the Government to apply this sum to the objects contemplated as speedily as the nature and due permanence of the several constructions will admit, is rendered impera tive and absolute by every consideration .of public safely and public honor. It is estimated by the Chief Engineer that the sum of $1,435,500 can be judiciously and most beneficially applied upon these essential works of defence during the remainder of the present year, in addition to the appropriations heretofore made for the same objects. The ex penditures in this branch of service have been more considerable in the current quarter than ; usual, and lienee the additional appropriations asked for are larger than they would have been under ordinary circumstances, llow this has happened will be explained by the fact that, soon after the accession of your immediate and lamented predecessor, all the means at the disposal of this Department were directed lo be employed upon the fortifications and other works for the protection of the Atlantic frontier, in the manner deemed best calculated to produce the greatest possible efficiency in the shortest time. This course appeared to be called for by the unsettled and threatening aspect of oiu foreign relations, While the whole of the resources at the disposal of this Department for this service were thus ordered to be applied to such unfinished works as couid be made available, in whole or in part, in a reasonable time, it is-prope-r to state, in this connexion, that directions were at the same time given to supply, without delay, the works already completed, with their appropriate ar ia nnent. The promptitude and liberality with which the Governor of New York and the Commis sioner of public lands in that State responded to the recent application of the Department to be put in possession of the works construc ted on Staten Island under the supervision and at the expense of that State, for the de fence of New York harbor, deserves the thanks of the country, and should be further acknowledged by the immediate appropria tion of the sum demanded as a compen sation for the ground upon which they are situated. The works are regarded as of great importance to the object for which they were designed, and they are now in a course of re pair and improvement, under the direction of a compietent officer of the corps of engineers. The correspondence between this Department and the Governor of New York, and the report of the Chief Engineer, will show the terms upon which the title of this property will be vested in the United States. It will be seen from the accompanying re port from the Ordinance Department, that some additional appropriations* tor that service are believed to be important to the public in terest. The amount called for is $22,000. — The importance of the operations of this De partment and its immediate connexion with the national defence, >n providing guns, gun carriages, and other munitions, will at once be perceived. it is necessary that the attention of Con- 1 gross should he called to the policy armories. The duty of increasing, by every practicable means, the efficiency ol these important es tablishments, not less than a due regard to economy, influenced the Department in giving its sanction to the plan of dispensing with the civil superintendence authorized by law. After full consideration, it was believed tiiat this could be safely and advantageously done. —Accordingly the armories are now in charge of skilful and experienced officers of the Ordnance Department. One defect in the policy of taking superintendents from civil life, as shown by past experience, is the want of proper qualifications in the persons usually selected. Some degree ol science, as well as a practical knowledge in the construction & use of arms, are indispensa ble requisities in the superintendents. The desired and proper qualifications are rarely to be found united in the same person in civil life, whose services can be commanded by the Gov ernment. Another and more serious objection to the system of supervision heretofore prac tised is found in the defective and inadequate control which the Department has been able to exercise over the superintendents. It has | been found impossible, in some instances, to enforce the most salutary regulations. The necessary degree of deference lo the orders and wishes of the superior authoriiy, it is manifest, has not been felt. This probably is the inevitable result of the nature of the in terests and influences, in no manner connected with the objects of these establishments, which too often control the conduct of the su perintendents. For these reasons, it is deem ed of great importance that the armories be separated as far as possible, from all con nexion with the party politics of the day.— The force of the objections suggested to a civil superintendence cannot be better illustra ted than by the statements contained in tire accompanying memorandum of the Ordnance Department, which appears to be taken chief ly from the correspondence between that De j a rt mcnt and the superintendent of the armory at Harper’s Ferry. But the expediency of continuing the su- perimendeucy of these officers must finally be decided by Congress. Some hesitation was felt in dropping, temporarily, the civil su per intendency; but as neither of the late superintendents, though of much personal worth, was regarded as, possessing, in a due degree, those particular qualifications which are important in the management of such es tablishments, their removal was thought a fit occasion to introduce anew system. Time has not yet been allowed to test sufficiently its advantages or defects. If it shall be the pleas ure of CormMss to allow the existing vacan. cies under as it now stands, to contin ue for a short period, the public interests will be subserved whatever may be the result of the experiment. If the policy recommended by the Ordnance Department, and so far sanc tioned by this Department, shall succeed, it will be well for the public service, it it shall fail, there will no longer be any pretext for fu ture changes; and the Department will look to the selection of the most competent super intendents from the walks of civil life, and to the means of improving the efficiency of these establishments by such new regulations, un der your direction, as may be suggested by ex perience. Additional appropriations, to the amount of $825,037 80, are required by the Pay and Quartermaster’s Departments for the service of the present year. The amount asked by the Quartermaster General appears to be in dispensable. It is about the sum which Con gress at the last session failed to appropriate, though included in the estimates, and under stood to be in part for arrearges for the year 1840 : and a large portion of the present de mand may not be improperly set down to the same account. A portion of the sum required by the Pay Department is for arrearages of tho year 1840, as will appear from tho report of the Paymaster General. The agents and superinlendants heretofore employed in the construction of the various improvements on the lakes, theseacoast, and in the interior, have been discharged, except such as have been retained at a small compen sation, to guard some of the most important works remaining in an unfinished state, and the public property connected with them. In a few instances, it has been found expedient to employ an agent to take care of the pro perty of the Government collected for the con struction of these works, until Congress sIkHI determine upon the question of continuing or abandoning them, where there was no fund out of which they could be paid. Some of these agents have been paid from the pro ceeds of the sale of a portion of the public properly ; others can be paid only by further sales or under an appropriation by Congress. It has also been ascertained that the expendi tures upon several of these works have ex ceeded the appropriations made for the con struction. These arrearages are generally due to contractors and laborers in no way re sponsible for this error; and provision should therefore be made for the payment of them. The amount necessary to discharge them, as well as to pay the expenses of the agents em ployed as above stated, appears from the re port of the Chief of the Corps of Topographi cal P'.ngineers to be $39, 997 12. The subject of the expediency of comple ting the Cumberland road, and ot improving certain harbors and the navigation of certain great rivers, which may be regarded;as neces sary and proper in making adequate provision for the public defence, I propose to postpone the further notice of until the stated session of Congress, as the consideration of it will in volve the propriety of making appropriations for various works of internal improvement not necessarily connected with that object, and, consequently, will requre more time than Con gress, at its approaching session, may find if convenient to give. At the late session of Congress, the sum of $30,000 was appropriated to be expended, under the direction of this Department, in re pairing the breach in the Potomac bridge. Soon after Ihe adjournment, an officer of the Corps of Topographical Engineers, distin guished alike tor his science and practical skill, was selected to make the necessary examina tions, and to report a suitable plan lor the ex ecution of the work. With what skill and accuracy be has performed this preliminary service, will appear from his report to the Chief of the Corps. The highest confidence being reposed in the soundness of his judg ment, it was determined at once to expend no portion ol the money placed at the disposal of* the Department for the accomplishment of so important a woik upon a plan which did not promise to secure, what was held to be indis pensable, its performance and durability.— Fiom the statements contained in the report of Major Turnbull, it is obvious that the re pairs, if done upon the plan which loaned the basis of the estimate upon which the appro priation was made, could not stand through a single season of freshet or ice. The question was then presented, whether it was proper to commence the repairs upon the only plan which promised the requisite strength and du rability, but the cost of which would far ex ceed the appropriation made by Congress, and which, it was known to the Department, was supposed to be ample lor the object, or wait the sanction ol that body at the approaching session. The great convenience and import ance ol the bridge at this point, and the strong interest felt by the citizens of this Dis trict ttiat the repairs should not be delayed, ur-ied the immediate commencement of the woik, while its questionable propriety, under the prospect of an immediate session of Con gress, decided the Department to postpone further operations until that body should have an opportunity of acting upon the subject. The utility and importance of this bridge not only to the citizens of this city and District, hut to the carrying of the public mail, and to the Southern travel at the season of the year when the river is obstructed by ice, are so generally felt and acknowledged, that I need say no more to recommend the additional ap propriation required; or that the sanction of Congress be given in some olher form, at an early day of the session, to the making of the necessary repairs upon the only safe and du rable plan wiiich presents itself. Another public work of great interest com mitted to the care ol this Department deserves some notice at this time. The sum ot $75,- 000 was appropriated at the late session of Congress for clearing out the lied River raft. The large sums ol money heretofore expend ed on this object, the high expectation indulg ed, al'ter the first successful experiment, of the practicability of effecting it, the subse quent accumulation and continuance of par tial obstructions, and the consequent disap pointment of the Public, caused the Depart ment to give its early and serious attention to the subject. Believing that Congress, in ma king this appropriation, indulged the hope that it would be all that would be required lor the completion of the work, the Department, re solved that the highest degree of permanent c and utility attainable by the use of the means placed at iis disposal should Ire accomplished, directed that an officer of high credit for skill and judgment should proceed without delay lo ascertain the nature, extent, and causes of the obstructions which interrupt the naviga tion of that river, and to submit a plan for heir removal. That officer lias not yet re ported lo the Department. It is intended that the steam and snag boats, after being repaired, shall ascend Red river, while it continues in a navigable slate, to the point of obstruction ; but it is not designed to enter upon the work until autumn. This policy, as “ ill fully ap pear from the report of the Chief ol the To-. pograhical Engineers, and t lie accompanying letter of the superintendant, was dictated a sound economy, ii not bv the necessity ut the case. A practice has prevailed in the Indian De partment of making payments from money#