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rRKSIDENT’S MKF-FAGE. 2',j (he Senate anti IJ'tu9c / oj ll it Unittd StaU* : In coming together, fellow-citizens, to eu tcr again ujkiii tiie discharge ol the tint es with winch the people have charged us, tev rallv, v. e find groat occasion to rejoice in the general prosperity of the country. V\ e are in the enjoyment ol all the bie.ss.ngs of civil and religious liberty, with unexampled means of education, knowledge, and improvement Through the year which is now drawing to a close, nonce has been in our borders, and pienty in our habitations; and although dis ease has visited some few portions of the land witn distress and mortality, yet in gene ral the health of the people has been pre served, and we are afl called upon, by the highest obligations of duty, to renew our t .auks and our devotion to our Heavenly 1 Parent, who has continued to vouchsafe to us the eminent blessings which surround us, and whv has so signally crowned the year with h s goodness. If we find ourselves in creasing, beyond example, in numbers, in strength, in wealth, in knowledge, in every thing which promotes human and social hap piness, let us ever remember our dependence, for all these, on the protection and merciful dispensations of Divine Providence. Since your last adjournment, Alexander McLeod, a British subject, who was indicted for the murder of an American citizen, and whose case has been the subject of a corres pondence heretofore communicated to you, has been acquitted in the verdict of an im partial and intelligent jury, and has, under the judgement of the Court, been regularly discharged. Great Britain having made known to this government that the expedition which was fitted out from Canada for the destruction of the steamboat Caroline, in the winter ot 1837, and which resulted in the destruction of k .;,l n,l the heath at an American ■cililem was undertaken by orders emanating from the authorities of the British Govern ment, in Canada, and demanding the dis charge of McLeod upon the ground that, if en gaged in that expedition, he did but fulfil the orders of his government, has thus been ans wered in the only way in which she could be answered by a government, the powers of which are distributed am -ng its several de partments by the fundamental law. Happily lor the people of Great Britain, as well as those ol the United States, the only mode by which an individual, arraigned for a criminal olfence, before the courts of either, can obtain his discharge is by the independent action of the judiciary, and by proceedings equally fa miliar to the courts of both countries. If in Great Britain a power exists in the Crown to cause to be entered a nolle prosequi, which is not the case with the Executive of the United Stales upon a prosecution pending in a State court, yet there, no more than here, can the chief executive power rescue a pris oner from custody without an order of the proper tribunal directing his discharge. The precise stage of the proceedings at which such order may be made, is a matter of munici pal regulation exclusively* and not to be com plained of by any other government. In cases of this kind, a government becomes po litically responsible only when its tribunals of last resort are shown to have rendered unjust &. injurious judgments in matters not doubtful. To the establishment and elucidation of this principle no nation has lent its authority more elficiently than Great Britain. Alexander McLeod having his option either to prosecute a writ of error from the decision of the Su preme Court of New York, which had oeen rendered upon his application for a discharge, to the Supreme Court of the United States,or to submit his case to she decision of a judi ciary, preferred the latter, deeming it the readiest inode of obtaining his liberation, and the result has fully sustained the wisdom of liis choice. The manner in which the issue submitted was tried, will satisfy the English government that the principles of justice will never fail to govern the enlightened decision of an American tribunal. 1 cannot fail, how ever, to suggest to Congress the propriety, and, in some degree, the necessity, of making sueh provisions by law, so far as they may constitutionally do so, for the removal at their commencement, and at the opt ion of the party, of all sueh cases as may hereafter arise, and which may involve the faithful observance and execution of our international obligations, from the State to the Federal Judiciary. The Government, by our institutions, is charged with the maintenance of peace and preserva tion of amicable relations n ith the nations of the earth, and ought to possess, without ques tion, all the reasonable and proper means of maintaining the one and preserving the other. Whilst just confidence is felt in the Judiciary of the States, yet thiß government ought to be competent in itself for the fulfilment of the high duties which have been devolved upon it under the organic law, by the States them selves. In the month of September, a party of arm ed men from Upper Canada invaded the ter ritory of the United States, and forcibly seiz ed upon the person of one Grogan, and, under circumstances of great harshness, hurriedly carried him beyond tlie limits of the United States and delivered him up to the authorities of Lower Canada, liis immediate discharge was ordered by those authorities, upon the facts of the case being brought to their knowl edge—a course of procedure which was to have been expected from a nation with whom we are at peace, and which was not more due to tlie rights of the United States, than to its own regard for justice. The correspondence which passed between the depar'ment of state, and the British envoy, Mr. Fox, and the gov ernor of Vermont, as soon as the facts had been made known to the department, are here with communicated. I regret that it is not in my power to make known to you an equally satisfactory conclu sion in the case of the Caroline steamer, with the circumstances connected with the destruc tion of which, in December, 1837, by an arm ed force fitted out in the prov.nce of Upper Canada, you are already made acquainted.— No such atonement as was due for the public wrong done to tt>® t- T -*oeu oiano tj- > of her territory, so wholly irreconcila ble with her rights as an independent power, has yet been made. In the view taken by this government, the inquiry whether the ves sel was in the employment of those who were prosecuting an unauthorised war against that province, or was engaged hv the owner in the business of transporting passengers to and from Navy Island in hopes of private gain, which was most likely the case, in no degree alters the real question at issue between the two governments. This government can ne ver concede to any foreign government the power, except in a case of the most urgent and extreme necessity, of invading its terri tory, either to arrest the persons or destroy the property of those who may have violated tire municipal laws of such foreign govern ment, or have disregarded their obligations arising under the law of nations. The terri tory of the United States must be regarded as sacrediy secure against all such invasions, until they shall voluntarily acknowledge their inability to acquit themselves of their duties to others. And in announcing this sentiment l do hut affirm a principle which no nation on earth would be more ready to vindicate at all hazards, than the people and government of j Great Britain. I£ upon a full investigation of all the facts, it shall appear that the owner of the Caroline vas governed by a hostile intent,or had made common cause with those who were in the occupancy of Navy Island, then so far as he is concerned, there can be no claim to indem nity for the destruction of his boa‘, which this government would feel itself bound to prose cute, since la would have acted not only in derogation of the rights ot Great Britain, but jn c lea r violation of the laws of the United States ; but that is a question which, howev t -cltled, in i:o manner involves the higher onsider&tiou ot the violation of territorial sovereignty and jurisdiction, i o recognise it as an admissible practice that each govern ment in its turn, upon any sudden and unau thorised outbreak, which, on a frontier, trie extent of which renders it impossible for ei- j iher to have an efficient force on every mile | of it, and which outbreak, therefore, neither may be able to suppress in a day, may take vengeance into its hands, and without even a remonstrance, and in the absence of any pres-1 sing or overruling necessity, may invade the territory of the oth’ would inevitably lead I to results equally to be deplored by both.— When border collisions come to receive the sanction, or to be made on the authority of either government, general war must be the inevitable result. While it is the ardent de sire of the United Slates to cultivate the re lations of peace with ali nations, and to fulfil all the duties of good neighborhood towards those who possess territories adjoining their own, that very desire would lead them to de ny the right of any foreign power to invade their boundary with an armed force. The correspondence between the two governments on this subject, will, at a future da/ of your session, be submitted to your consideration ; and in the mean time, I cannot but indulge the hope that the British government will the propriety of renouncing, as a rule of fu ture act ion, the precedent which has keen set in the affair at Schlosser. I herewith submit the correspondence which has recently taken place between the Amer ican Minister at the Court of bt. James, Mr. Stevenson, and the Minister of Foreign Af fairs of that Government, on the rights claimed by that Government to visit and detain vessels sailing under the American flag and engaged in prosecuting lawful commerce in the Afri can seas. Our commercial interests in that region have experienced considerable increase and have become an object ol much impor tance, and it is the duty of this Government to protect them against all improper and vexa tious interruption. However desirous the United States may he for the suppression of the slave trade, they cannot consent to inter polations into the maritime code, at the mere will and pleasure of other governments. We deny the right of any such interpolation to any one, or all the nations of the earth, without our consent. We claim to have a voice in all amendments and alterations of that, code—and when we are given to understand, as in this instance, .by a foreign government, that its treaties with other nations cannot be executed without the establishment and enforcement of new principles of maritime police, to be ap plied without our consent, we must employ a language neither of equivocal import, or sus ceptible of misconstruction. American citi zens prosecuting a lawful commerce in the African seas, under the flag of their country, are not responsible for the abuse or unlawful use of that flag by others ; nor can they light fully on account of any such alleged abuses, be interrupted, molested or detained while on the ocean ; anil if thus molested anti detained, while pursuing honest voyages, in the usual way, and violating no law themselves, they are unquestionably entitled to indemnity.— This government has manifested its repug nance to the slave trade, in a manner which cannot be misunderstood. By its fundamen tal law, it prescribed limits in point of time to its continuance ; and against its own citizens, who might so far forget the rights of human ity as to engage ir. that wicked traffic, it lias long since, by its municipal laws, denounced the most condign punishment. Many of the States composing this Union, had made ap peals to the civilized world for its suppression, long before the moral sense of other nations had become shocked by the iniquities of the traffic. Whether this government should now enter into treaties containing municipal stipu lations upon this subject, is a question for its mature deliberation. Certain it is, that if the right to detain American ships on the high seas be justifiable on a plea of a necessity for such detention, arising out of the existence of treaties between other nations, the same plea may be extended and enlarged by new stipu lations of new treaties, to which the United States may not be a party. This government will not cease to urge upon Great Britain, full and ample remuneration for all losses, wheth er arising from detention or otherwise, to which American citizens have heretofore been, or may hereafter be subjected, by the exercise of rights which this government cannot recog nise as legitimate and proper. Nor will I in dulge a doubt but that the sense of justice of Great Britain will constrain her to make retri bution lor any wiongor loss, which any Amer ican citizen, engaged in the prosecution of lawful commerce, may have experienced at the hand of her cruisers, or other public au thorities. This government, at the same time, will relax no effort to prevent its citizens, if there be any so disposed, from prosecuting a traffic 60 revolting to the feelings of hu manity. It seeks to do no more than to pro tect the fair & honest trader,from molestation and injury ; but while the enterprising mari ner, engaged in the pursuit of an honorable trade, is entitled to its protection, it will visit with condign punishment, others of an oppo site character. I invite your attention to existing laws for the suppression of the African slave trade, and recommend all such alterations, as may give to them greater force and efficacy. That the American flag is grossly abused by the abandoned and profligate of other nations, is but too probable. Congress has, not Jong since, had this subject under its consideration, and its importance well justifies renewed and anxious attention.* I also communicate herewith a copy of a correspondence between Mr. Stevenson and Lord Palmerston, upon < he subject so interest ing to some of the Southern states, of the rice duties, which resulted honorably to the just ice of Great Britain, and advantageously to the United States. At the opening of tlie last annual session, the President informed Congress of the pro gress which had then been made in negotia ting a convention between this government and that of England, with a view to the final cat t oi tJio ipjcaiiuii erf the buu uilrfi y between the territorial limits of the two coun tries* 1 regret to say that little further ad vancement of the object has been accomplish ed since last year; but this is owing to cir cumstances no way indicative of any abate ment of the desire of both parties to hasten the negotiation to its conclusion, and to settle the question in dispute, as early as possible. In tiie course of the session, it is my hope to be able to announce some further degree of progress toward the accomplishment of this Ingl-iy desirable end. The commission appointed by this govern ment for the exploration and survey of the line of boundary separating the states of Maine I and New Hampshire from the conterminous | British provinces is, it is believed, about to j close its field labors, and is expected soon to report the results of its examination to the Department of State. The report, when re ceived, will be laid before Congress. The failure on the part of Spain to pay, with punctuality, the interest due under the convention of 1834, for the settlement of; claims between the two countries, has made ! it the duty of the Executive to call the par ticular attention of that government to the subject. A disposition lias been manifested bv it, which is believed to In? entirely sincere, to fulfil it* obligations in this respect, so soon as its internal condition and the state of its | finances will permit. An arrangement is in j progress, from the result of which it is trusted that those of our citizens who have claims under the convention will, at no distant day, receive the stipulated payments, A trea'y of commerce and navigation with Belgium was concluded and signed at Wash ington on the 29th March, 1840, and was duiy sanctioned bv the Senate of the United States. The treatv was ratified bv his Bel giati Majesty, bat did not receive the appro bation of the Belgian Chambers within the time limited by its terms, and lias, therefore, become void. Tills occurrence assumes the graver aspect from the consideration that in 1833 a treaty negotiated between the two governments, and ratified on the part of the United States, failed to be ratified on the part of Belgium. The representative of that gov ernment at Washington informs the Depart ment ot State that he has been instructed to give explanations of the causes .vhich occa sioned delay in the approval of the late treaty by the Legislature, and to express the regret of the King at the occurrence. The joint commission, under the conven tion with Texas, to ascertain the true bound ary between the two countries, has concluded its labors ; but the final report of the commis sioners ot the United States has not been received. It is understood, however, that the meridian line, as traced by the commission, : lies somewhat farther east than the position hitherto generally assigned to it, and conse l quently includes in Texas some part of the i territory which had been considered as be | longing to the states of Louisiana and Ar- I kansas. The United States cannot but take a deep ‘.itcresi in whatever relates to thip young, but I growing republic. Settled principally by e:n- j igrants from the United States, we have the j happiness to know, that the great principles j of civil liberty are there destined to flourish, l under wise institutions and wholesome laws ; I and that, through its example, another evi dence is to be afforded of the capacity of pop ular institutions, to advance the prosperity, happiness and permanent glory of the human race. The great truth, that govern..:ent was | made for the people, and not the people for | government, has already been established in ; the practice and by the example of these Uni | ted Sta'es; and we can do no other than Ci n i template its further exemplification by a sister j republic, with the deepest interest. Our relations with the independent states of this hemisphere, formerly under the domin ion of Spain, have not undergone any materi al change within the past year. The inces sant sanguinary conflicts in, or between those countries are to be greatly deplored, as ne cessarily tending to disable them from per forming their duties as members of the com munity of nations, and rising to the destiny which the position and natural resources of many of them might lead them justly to anti cipate, as constantly giving occasion, also, di rectly or indirectly, for complaints on the part of our citizens who resort thither for purposes of commercial intercourse, and as retarding reparation for wrongs already committed, some of which are by no means of recent da e. The failure of the Congress of Ecuador to bold a session, at the time appointed for that purpose, in January last, will probably render abortive a treaty of commerce with that re public, which was signed at Quito on the 13th of June, 1839, and had been duly ratified on our part, but which required the approbation of that body prior to its ratification by the Ecu adorian executive. A convention which has been concluded with the republic of Peru, providing for the settlement of certain claims of citizens of the United States, upon the government of that republic, will be duly submitted to the Senate. The claims of our citizens against the Bra zilian government, orignating from captures, and other causes, are still unsatisfied. The United States have, however, so uniformly shown a disposition to cultivate relations of amity with that empire, that it is hoped, the unequivocal tokens of the same spirit towards us, which an adjustment of the affairs referred to would afford, will be given without further avoidable delay. The war with the Indian tribes on the pen insula of Florida has, during the last summer and fall, been prosecuted with untiring activ ity and zeal. A summer campaign was re solved upon, as the best mode of bringing it to a close. Our brave officers and men who have been engaged in that service, have suf fered toils and privations and exhibited an en— ergy which, in any other war, would have won for them unfading laurels. In despite of the sickness incident to the climate, they have penetrated the fastnesses of the Indians, bro ken up their encampments, and harrassed them unceasingly. Numbers have been cap-- tured, and still greater numbers have surren dered, and have been transported to join their brethren in the lands elsewhere allotted to them by the government; and a strong hope is entertained that, under the conduct of the gallant officer at the head of the troops in Florida, that troublesome and expensive war is destined to a speedy termination. With all the other Indian tribes, we are enjoying the blessings of peace. Our duty, as well as our best interests, prompt us to observe, in all our intercourse with them, fidelity in fulfilling our engagements, the practice of strict justice, as well as the constant exercise of acts of be nevolence and kindness. These are the great instruments of civilization, and through the u.-e of them alone, can the untutored child of the forest be induced to listen to its teachings. The Secretary of State, on whom the acts ! of Congress have devolved the duty of direct j ing the proceedings for the taking of the sixth j census, or enumeration of the inhabitants of | the United States, will report to the two Houses tie progress of that work. The enu : meration ot persons has been completed, and : exliibitu a grand total of 17,039,453; making j an increase over the census of 1830, of 4,202,- 646 inhabitants, and showing a gain in a ratio exceeding 32 1-2 per cent, for the last ten years. From the report of the Secretary of the Treasury, you will be informed of the condi tion of the finances. The balance in the treasury on the Ist of January last, as stated in the report of the Secretary of the Treasury, submitted to Congress at the Extra Session, was $987,345 03. The receipts into the treasury, during the first three quarters of this year, from all sources, amount to $23,- ; 467,072 52. The estimated receipts for the j j fourth quarter, amount to $3,943,095 25, | amounting to $30,410,167 77; aud making, i with the balance in the treasury, on the first !of January last, $31,397,512 80. The ex | penditures for the first three quarters of this 1 year amount to $24,734,346 97. ‘l’he ex penditures for the fourth quarter, as estimated, will amount to $7,290,723 73 —thus making a total of $32,025,070 70, and leaving a de ficit to be provided for, on the first of January ! next, of about $327,557 90. j Os the loan of $12,000,000, which, was au | thorised by Congress at its late session, only $5,432,726 have been negotiated. The short i ness of time which it had to run has presented I no inconsiderable impediment in the way of | its being taken by capitalists at home, while i the same cause would have operated with ! much greater force in the foreign market • For that reason the foreign market has not ; been resorted to; and it is now submitted, ; whether it would not be advisable to amend ! the law by making what remains undisposed i of payable at a more distant day. Should it be necessary, in any view that! Congre.-s may take of the subject, to revise ; the existing tariff of duties, I bc-g leave to say, I that iu the performance of that most delicate j ! operation, moderate counsels would seem to be the wisest. Tiia government under which it :s our happiness to live, owes its existence to the spirit of compromise which prevailed among its framers--jarring and discordant opinions could only have been reconciled by that uouie spirit of patriotism, which prompted conciliation, and tesuited in harmony. In the same spirit, the compromise bill, as it is coni*! monly called, was adopted at the session of j 1833. While the people of no portion of the { Union will ever hesitate to pay all necessary taxes for the support of Government, yet an innate repugnance exists to the imposition of burthens not really necessary for that object. In imposing duties, however, for the purposes of revenue, a right to discriminate as to the articles on which the duty shall be laid, as well as the amount, necesearfy and most properly exists. Otherwise, the Government would be placed in the condition of having to levy the same duties upon all articles, tlie productive as well as the unproductive The slightest duty upon some, nvglit have the ef fect of causing their nn|orlatioii to cease; whereas others, entering extensively into the consumption of the country, might bear the heaviest, without any sensible diminution in the amount imported So also the govern ment may be so justified in discr.minating, by reference to other consideration.-, of domestic policy, connected with our manufactures. So long as the duties shall be laid with distinct reference to the wants of the treasury, no well j founded objection can exist against them. It -might be esteemed desirable that no such 1 augmentation of the taxes should take place |as would have the effect ol annulling the land j proceeds distribution act of the last session, j ’ which act is declared to be inoperative the I ! moment the duties are increased beyond 20 ! per cent., the maximum rate established by | the compromise act. Some of the provisions lof the compromise act, which will go into el- sect on the 300i day of June next, may, how ever, be found exceedingly inconvenient in practice, under any regulata ns that Congress may adopt. I refer more particularly to that relating to the home valuation. A difference in value of the same articles to some extent, will necessarily exist at different ports—but that is altogether insignificant, when com pared with the conflicts in valuation, which are likely to arise, from the d.fferences of opinion among the numerous appraisers of merchandize. In many instances the esti mates of value must be conjectural, and thus as many different rates of value may tie es tablished as there are appraisers. These dis ferences in valuation may also be increased by the inclination, which, without the slight est imputation on their honesty, may arise on the part of the appraisers in favor of their re spective ports of entry : I recommend this whole subject to Congress, with a sing e ad ditional remark. Certainty and permanency in any system of governmental policy are, in all respects, eminently desirable ; but more particularly is this true in all that affects trade and commerce, the operations of which de pend much more on the certainty of their re turns, and calculations which embrace distant periods of time, than on high bounties, or du ties, which an: liable to constant fluctuations. At your late session, I invited your atten tion to the condition of the currency and ex changes, and urged the necessity of adopting such measures as were consistent with the constitutional competency of the government, in order to correct the unsoundness of the one, and as far as practicable the inequalities of the other. No country can be in the enjoyment of its full measute of prosperity, without the presence of a medium of exchange, approxi mating to uniformity of value. What is ne cessary as between the different rations of the earth, is also important as between the inhabi tants of different parts of the same country ; with the first the precious metals constitue the chief medium of circulation, and such also would be the case as to the last, but for inven tions comparatively modern, which have fur nished, in place of gold and silver, a paper circulation. Ido not propose to enter into a comparative analysis of the merits of the two systems. Such belonged more properly to the ! period of the introduction of the paper system. The speculative philosopher might find in ducements to prosecute the inquiry, but his researches could only lead him to conclude, that the paper system had probably better never have been introduced, and that society might have been much happier without it.— The practical statesman has a very different task to perform. Jle has to look at things as they are—to take them as lie finds them—to supply deficiencies, and to prune excesses as far as in him lies. Tlie task of furnishing a corrective for derangements of the paper me dium with us, is almost inexpressibly great. The power exerted by the States to charter banking corporations, and which, having been carried to a great excess, has filled the coun try wi:h, in most of the States, an irredeema ble paper medium, is an evil which, in some way or other, requires a corrective. ‘Fhe rates at which bills of exchange are negotia ted between different parts of the country, furnish an index of the value of the local sub stitute for gold and silver, which is, in many parts, so far depreciated, as not to be recei ved except at a large discount, in payment of debts, or in the purchase of produce. It could earnestly be desired that every bank, not pos sessing the means of resumption, should fol low the example of the late U. S. Bank of Pennsylvania, and go into liquidation, rather than by refusing to do so to continue embar rassments in the way of solvent institutions, thereby augmenting the difficulties incident to the present condition of things. Whether this government, with due regard to the rights of the States, has any power to constrain the banks, either to resume specie payments, or to force them to liquidation, is an inquiry which will not fail to claim your consideration. In view of the great advantages which are allowed the corporators, not among the least of which is the authority contained in most of their charters, to make loans to three times the amount of their capital, thereby often de riving three times as much interest on tlie same amount of money as any individual is | permitted by law to receive, no sufficient apol ! ogy can be urged for a long continued sus I pension of specie payments. Such suspension is productive of the greates* detriment to the public, by expelling from circulation the pre cious metals, and seriously hazarding the suc cess of any effort that this government, can make, to increase commercial facilities, and to advance the public interests. This is the more to be regretted and the indespensable necessity for a sound currency becomes the more manifest when we reflect on the vast amount of the internal commerce of the country. Os this we have no statistics, nor just data for forming adequate opin j ions. But. there can be no doubt, but that the amount of transportation coastwise by sea, and the transportation inland by railroads and canals, and by steamboats and other modes of conveyance, over the surface of our vast rivers and immense lakes, and the value of property carried and interchanged by these means, form a general aggregate, to which the for eign commerce of the country, largeas it is, makes but a distant approach. In the absence of any controlling power j over this subject, which by forcing a general resumption of specie payments would at once have the effect of restoring a sound medium of exchange, and would leave to the country but little to desire, what measure of relief, falling within the limits of our constitutional competency, does it become this government to adopt ? It was my painful duty at your last session, under tlie weight of most solemn obligations, to differ with Congress on the measures which it proposed for my approval, and which it doubtless regarded as corrective of existing evils. Subsequent reflection, and events since occurring, have only served to confirm me in the opinions then entertained, and frankly expressed. I must be permitted to add, that no scheme ! of governmental policy, unaided by individual j exertions, can be available for ameliorating j the present condition ol tilings. Commercial I modes of exchange and a good currency, are j but the necessary means of commerce and in tercourse, not the direct productive sources of | wealth. Wealth can only be accumulated by | the earnings of industry, and the savings of j frugality : and nothing can be more ill judged than to look to facilities in borrowing, or to a I redundant circulation for the power of dis charging pecuniary obligations. The coun try is full of resources, and the people full of energy, and the great and permanent remedy for present embarrassments must be sought in industry, economy, the observance of good faith, ami the favorable influence of time. < In pursuance of a pledge given to you in mv l last message to congress, which piedge 1 urge as an apo'ogv for adventuring to present you the details of any plan, the Secretary of the Treasury will be ready to submit to you. should you require it, a plan of finance winch while it throws around the public tieasure reasonable guards for its protection, and rests on powers acknowledged in practice to exist from the origin f the government, will, ai the same time, furnish to tm- country a sound paper medium, and atßird all reasonable fa cilities for regulating the Exchanges. When submitted, you will perceive m it a plan amendatory of the existing laws in relati >n to the Treasury Department- subordinate in all lespecls to the will of Congress directly, and die will of the people indirectly —self sustain ing, should it be found iu practice 10 realize U3 promises in theory, and repealable at the pleasure of Congress. It proposes by ell.eiu al restraints, and by invoking the true spirit ot our institutions, to separate the purse from the sword ;or more properly to speak, denies any other control to the President over die agents who may be selected to carry it into j execution, but what may be indispensably ne- j cessary h secure the fidelity oi such agents; j and by wise regulations, keeps plainly j apart from each other, private and ptib-j he funds. It contemplates the establish ment of a Board of Control, at die Seat ol Government,wilh aoi ncies at prominent com- j meicial points, or wherever else Congress j shall direct for the safe k -epmg and disburse- j ment of the public moneys, and a suhtiiution, at the option of the public creditor, ol Treas ury notes in line of g Id and silver. Ii propo ses to limit the issues to an amount not to ex ceed sls 000,000—without the express sanc tion of the Legislative power. It also author izes the receipt of individual deposits ol gold and silver to a limited amount and the grant ing certificates of deposite. divided into such sums as may he called for by the depositors. — It proceeds a step further, and authorizes the purchase and sale ol domestic bills and drafts, resting on a real and substantial basis, payable at sight or but having a short time to run,and drawn on places not less than one hundred miles apart—which authority, except in so fdr as may be necessary for government purpo ses exclusively, is only to be exerted upon the express condition, that its exercise shal not be prohibited by the Siate in which the agency is situated. In order to cover the expenses incident to the plan, it will be authorized to receive moderate premiums for certificates issued on deposits, and on bills bought, and sold, and thus, as far as its dealings extend, to furnish facilities to commercial intercourse attheluwest possible rates, and to subduct from the earnings of in dustry, the least possible sum. It uses the State Banks at a distance from the agencies, as auxiliaries, without imparting any power to trade in its name. It is subjected to such guards and restraints as have appeared to be necessary. It is the creature of taw, and ex ists only at the pleasure of the legislature. It is made to rest on an actual specie basis, iu or der to redeem the notes at the places of issue —produces no dangerous redundancy of circu lation—affords no temptation to speculation— is attended by no inflation of prices—is equa ble in its operation—makes the treasurv notes, which it may use along with the certificates of deposit* and the notes of specie paying banks —convertible at the place where collected, re ceivable in payment of Government dues — and, without violating any principle of the Con stitution, affords the Government and the peo ple such facilities as are called for by the wants of both. Such, it has appeared to me, are its recommendations, and in view of them it will be submitted whenever you may require it, to your consideration. I am not able to percen’B that any fa.r and candid objection can be urgeJ against the plan, the principal outlines of which I ha*” thus pre sented. I cannot doubt but that the iiTtCF which it proposes to furnish, at the v oJuntary option of the public creditor, issued in lieu of the revenue and its certificates ot deposit, will be maintained at an equality with gold and silver, every where. They are redeemable in gold and silver on demand, at the places of issue. They are receivable every where in paymentof governmentdues. The Treasury notes are limited to an amount of one-fourth less than the estimated annual receipts of the treasury; and in addition they rest upon the faith of the government for their redemption. If all these assurances are not sufficient to make them available, then the idea, as it seems to me, of furnishing a sound paper medium of exchanges, may be entirely abandoned. If a fear be indulged that the government may be tempted to run into excess in its issues at any future day, it seems to me that no such apprehension can reasonably be entertained, until all confidence in the representatives of the states and of the people, as well as of the people themselves, shall be lost. The weight iest considerations of policy require that the restraints now proposed to be thrown around the measure should not, for light causes, be removed. To argue against any proposed plan its liability to possible abase, is to reject every expedient, since every thing dependent on human action is liable to abuse*. Fifteen millions of treasury notes may be issued as the maximum, but a discretionary power is to be given to the board of control, under that sum, and every consideration will unite in leading them to feel their way with caution. For the eight first years of the existence of the late Bank of the United States, its circu lation barely exceeded $1,000,000; and for five of its most prosperous years, it was about equal to $0,000,000: furthermore, the au thority given to receive private deposits to a limited amount, and issue certificates in such sums as may be called for by the depositors, may so far fill up the channels of circulation as greatly to diminish the necessity of any considerable issues of treasury notes. A re straint upon the amount of private deposits has seemed to be indispensably necessary, from an apprehension thought to be well founded, that in any emergency of trade, con fieence mi?ht be so far shaken in the banks as to induce a withdrawal from them of pri vate deposits with a view to insure their un questionable safety when deposited with the government, which might prove eminently disastrous to the state banks. Is it objected that it is proposed to authorise the agencies to deal in bills of exchange ! It is answered, that such dealings are to be carried on at the I lowest possible premium —are made to rest on an unquestionably sound basi-;—are de signed to reimburse merely the expenses which would otherwise devolve upon the trea- | surv, and are in strict subordination to the j decision of the supreme court, in the case of the Bank of Augusta against Earle, and other reported cases: and thereby avoids all con-; flict with state jurisdiction,which I hold to he indispensably requisite. It leaves tlte bank ing privileges of the States without interfer ence—looks to the treasury and the Union— and, while furnishing every facility to the first, is careful of the interests of the las’. But above all, it is created by law, is amenable by law, and is repealable by law ; and wedded as I am to no theory, but looking solely to the advancement of the public good, I shall be amongst the very first to urge its repeal, if it be found not to subserve the purposes and objects for which it may 16 indicated. Nor, will the plan be submitted in any overweening confidence in the sufficiency of my own judge ment, but with much greater reliance on the wisdom and patriotism of Congress. I can not abandon this subject without urging upon you, in the most emphatic manner, whatever J may be your action on the suggestions which | I have felt it to be my duty to submit, to re lieve the chief executive magistrate by any j and all constitutional means, from a controli—j ing power over the public treasury. If, in the plan proposed, should you deem it worthy of j your consideration that separation is not as| complete as you may desire, you will doubt— less amend it in that particular. For myself, 1 disclaim all desire to have any control over the public moneys, other than what is indis pensably necessary, to execute the laws which you may pass. Nor can-Ifail to ad vert, in this connection, to the debts which many of :he Slates of the Union have contracted abroad, and un der which they continue to labor. That in debtedness amounts to a sum not less than $200,000,000, and which has been retributed to them for the most part, in works of internal improvement, which are destined to prove of vast importance in ultimately advancing their prosperity and wealth. For the di bis thus contracted, the Mates are alone re sponsible. I can do no more than express the belie! that each State will feel itsell bound by every consideration of honor, as well as of interest, to meet its engagements with punctuality. The failure, however, of any one State to do so, should in no de gree affect the credit of the rest ; and the foreign capitalist will have no just cause to experience alarm as to all other State stocks, because anv one or more of the States may neglect to provide with punctuality the means of redeeming their engagements. Even such Mates, should there be any, considering the great rapidity with which theirresotirces are developing themselves, will not fail to have the means, at no very distant dav, to redeem their obligations to the utmost fat thing ; nor will I doubt that ; in view of that honorable conduct which i has evermore governed the States, and the people of this Union, they will each and all i resort to every legitimate expedient, before | they will forego a faithful compliance with ! their obligations. From the report of the Secretary of War and other icports accompanying it, you will be informed of the progress which has been made in the fortifications designed for the protection of our prin ipal cities, roadsteads, and inland frontier; during the present year; together with their true state and condition. They will be prosecuted to completion with all the expedition which the means placed by Congress at the disposal of the Executive will allow. I recommend particularly to your consid eration, that portion of the Secretary’s re port which proposes the establishment ol a chain of military post*, from Council Bluffs to some point on the Pacific Ocean, within our limits. The benefit thereby destined to accrue to our citizens engaged in the fur trade, over that wilderness region, added to the importance of cultivating friendly rela tions with savage tribes inhabiting it, and at the same time of giving protection to our frontier sentiments, and of establishing the means of sale intercourse between the American settlements at the mouth of the Columbia river, and those on this side of the Rocky Mountains, would seem to suggest the importance of carrying into effect the re commendations upon this head with-as little delay as may be practicable. The report of the Secretary of the Na vy. will place you in possession of the pre sent condition of that important amt of the national defence. Every effort will be made to add to its efficiency, and I cannot too strongly urge upon you, liberal appropria tions to that branch of the public service. Inducements of the weightiest character exist for the adoption of this course oi poli cy. Our extended and otherwise exposed maritime frontier, calls for protection, to the iurntsbing of which an efficient naval force is indispensable. We look to no foreign conquests, nor do we propose to enter into competition with any other nation for su premacy on the ocean—but it is due not on ly to the honor, but to the security of the People of the United States, that no nation should be permitted to invade our waters at pleasure, and subject our towns and villa ges to conflagration or pillage. Economy in all branches ot the publie service, is due from all the public agents to the people— but parsimony alone would suggest the withholding of the necessary means, for the protection of ourdomes. ,|C firesides from in vasion, and our national fionor from dis grace. I would most earnestly recommend to Congress, to abstain from all appropria tions, for objects not absolutely necessary ; but I take upon myself, without a moment of hesitancy, all the responsibility of re commending the increase and prompt equip ment of that gallant Navy, which has lighted up every sea with its victories, and spread an imperishable glory over the coun try. The report of the Postmaster General will claim your particular attention, not on ly because of the valuable suggestions which it contains, but because of the great importance which, at all times, attaches to that interesting branch of the public ser vice. The increased expense of transport ing the mail along the principal routes, necessarily claims the public attention, and has awakened a corresponding so licitude on the part of the Government. The transportation of the mail must keep pace wilh those facilities of intercommuni cation winch are every day becoming grea ter through the building of rail-roads and the application of steam power—but it can not be disguised that, in order to do so, the Post Office Department is subjected to hea vy exactions. The lines ot communica tion between distant parts of the Union, are, to a great extent, occupied by rail-roads, which, in the nature of things, possess a complete monopoly, and the Department is therefore liable to heavy and unreasonable charges. This evil i- destined to great in crease in future, and some timely measure may become necessary to guard against it. Ifeel it my duty to bring under your con sideration a practice which has grown up in the administration of the Government, and which, I am deeply convinced, ought to be corrected. 1 alluded to the exerci-e of the power, which usage, rather than reason, has vested in the Presidents, ol re moving incumbents from office, in order to substitute others more in favor with the dominant party. My own conduct, in this respect, has been governed by a conscienti- j ous purpose to exercise tire removing pow- | er. only in cases ol unfaithlulness or in ibil- 1 ity, or in those in which its exercise appeard necessary; in order to discountenance and suppress that spirit of active partisanship on the part of holders of office, which not only withdraws them from the steady and impartial discharge of their official duties, but exerts an undue and injurious influ ence over elections, and degrades the char acter ol the Government itself, inasmuch as it exhibits the Chief Magistrate, as be ing a party, through his agents, in the se cret plots or open workings ol political par ties. In respect to the exercise of this power I nothing should be left to discretion, which J may salVly be regulated by law ; and it is (of high importance tojrestrain as far as* possible tlte stimulus of personal interests in public elections, Considering the great | increase which has been made in public of j fices in the lastquarter of a century, and the probability ol farther increase, we incur the I hazard of witnessing violent political con* tests directed too often to the single object of retaining office,!by those who are in, or ob taining it, by those who are out, Under the intluence of these convictions, I shall cordially concur in any constitutional mea sures for regulating, and by regulating, re straining, the power of removal. I suggest for your consideration, the pro priety of making, without further delay, some specific application of the funds de rived under the will of Mr. Smithson, of England, for the diffusion of knowledge; and which have heretofore, been vested in public stocks, until such time as Congress should think proper to give them a specific direction. Nor will you. I feel confident, per mil any abatement of the principal of the legacy to be made should it turn out that the siock*, in which the vestments have been made, have undergone a depreciation. In conclusion, I commend to your care the interests of this District, for which you are the exclusive legislators. Consider ing that this city is the residence of the Government, and for a large part of the tear, ol Congress and considering also, the great cost of the Public Buildings, anil the property of affording them at all times carelul protection, it seems not unreason able that Congress should contribute to wards the expense of an efficient police. JOHN TYLER. Washington, December 7, IS4I. TH E TI M ES . TUe union ofihe slates ami the sovereign*\ of the states COLUMBUS, DECEMBER 16, IS4I. FOR CONGRESS, WALTER T. COLQUITT, EDWARD J. BLACK, MARK A. COOPER. the PRESIDENT'S MESSAGE. This document was received iu this city on Monday afternoon, and issued by us in au Extra the same evening. The most important topic treated in the message, and the one upon which, just now the principal interest is felt by the country generally, is that relating to the currency, and the establishment of a suitable fiscal agent for the purposes of government. Al though the plan suggested by the President is not free from constitutional objections, inis much as it proposes to give certain bankimr powers to the new machine recommended for’ the collection, safe keeping and disbursement of the public funds ; yet we are happy to per ceive that he denies now.,- as heretofore, the right of Congress to charter rnceijrOrations. The President, too, acknowledges distinctly the r : glit. of repeal of any institution or agen cy established by Congress to aidi the govern ment in its fiscal affairs. This is ail very well, and affords an additional guaranty of the ultimate ascendancy of the- principles of the Democratic party on a permanent basis, so far as this particular subject is concerned. The President'devotes portions of hiertnes-- sage to the vexed questions pending between this government and that'of Great Britain % and entertains the hope—we trust it may not provo r delusive—that alb of them will be ami cably adjusted to the mutual benefit of both* nations. There is a part of tbo mt-SSSige to'whichwe* desire to draw particularly the attention of the Columbus Enquirer. It is that in relation to* the torn! it ion ol the Treasury now, and the probable deficit on 1 the first of January ensu ing. That deficit, even according to the’ figures of President Tyler, will be only aLout six hundred thousand dollars, instead of six: millions and upwards, asr alleged by Whig journals during the last summer,and if we mis take not by the Enquirer among the number’ And this insignificant deficit exists, too, when only Jive millions and a h alftf ike- heel re million Loan authorized at the late session of &viigress 9 - hare been ngotiated. Will the Enquirer ex-’ p.'ain this extraordinary result respecting the’ finances of the country, stated in so imposing-, a document as the Annual Message of the’ President of the United States ] It is worthy of remark, also, that while n’ further progress has been made towards the’ final adjustment of the Northeastern Bounda ry dispute, President Tyler says “it is : the : desire of both parties to hasten the negotiation, to its conclusion, and to settle the question in? dispute as early as possible.” The President says but little about t'her atoi ement demanded of the British Govern.* ment for the destruction of the Caroline steamer, and the illegal invasion of our feitL torv. While admitting that no notice has.” been taken of our demand for reparation, lie says nothing about persisting in the demand— •‘but. indulges the hope that the British Gov ernment will see the propriety of renouncing, as a rule ol future action, the precedent which has been set in the affair at Schlosser.” This* language is humiliating under any circuit! t stances*—but doubly so when uttered by tlta highest functionary in the land. PLANTERS’ AND MECHANICS’ BANK At a meeting of the directors of this insti tution, the vacancy in the hoard was filled by the election of James C. Watson. Subsequently, James C. Watson was elect ed President, to fill the vacancy occasioned by the resignation of John Banks. The hoard now stands as follows: President, James C. Watson; directors, Jehu Banks. James M. Chambers, Abner H. Fiewefleu, Thomas Berry, and W. B. Ector We beg leave to caution the public again, as we have had occasion to do heretofore, against crediting any flying rumors circulated in the country, prejudicial to the character of the banking institutions of this city. Most of them are in a state of suspension, it is true, and that is bad enough, but any reports that they are about to fail; or to do any thing winch will reduce ihe value of their notes lower than they now stand, ar * incorrect, and must be designed to injure improperly an un susuee'.ing community. STKAME t FRANCES. This steamer, in descending the Cliattahoo ‘ cliee river a few days since, with about 800 | bales of cotton on board, struck a rock in turn i ing a bend of the river, a few miles above Ir- I winton, Ala., being driven, in consequence of the rapidity of the current, out of the channel. I The Frances was run ashore in order, if ! possible, to rescue the cargo. The steamer | Chamois, arriving a few hours after the acci [ dent, took on board 488 bales of the cargo of I the Frances, and we learn that a portion of he remainder has since been saved in an un damaged condition. The baiance of the cotton, placed under deck, is being removed by the crew ot the boat; all of it, of course, more or less injured. The cotton on board the Fran ces was owned by different individuals in this city, and was insured, with the exception of 150 bales. The boat was not insured. The steamer is not seriously injured, and will, probably, De got off in a few days. We understand that great credit i6 due to Capt. Van Vechten and the crew of the Fran ces, for their extraordinary exertions in savins from damage the greater part of the cargo. °