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MADISON, CEO :
Saturday Night, December 9, 1843.
J'OR PRESIEIBL
IHI E IKI & Y ©LA Y 0
“ The Farther if Ashland”—the American
Pulriot, Statesman and Orator.
TOK CCSSFI3S,
GEN. DUNCAN L. CLINCH.
[J Election on the first Monday in January. J
OIiGANIZAT.OX CF THE
TWENTY-EIGHTH CONGRESS FIIIST SESSION.
We me indebted lo tlie kind altenlion ol
our worthy Representative, lion. A. 11.(’Imp
pell, for a copy of ihe acting President’s Mes
sage to Congress, delivered on Tuesday last.
Much interest having been excited in ihe pub
lic, mind in regard lo this Message, by the ru
mors which liavc been circulated through ihe
[press, we have thonghl propel to lay it entire
before our readers in an extra. In this man
mcr we shall endeavor to give our readers the
-earliest possible information of the mote im
portant political events that ntay transpire
aiming the session.
Tlie “National Intelligencer,” of the sth
iinstnnt, gives us the details of the orgnniza
ni m of both Houses of Congress, from which
-wc glean the most impoitnnt items. A quo
■rum o( both Houses leing present, t!e Senate
was quietly organized without debate. In
:the House, 189 members nnswered to the call
.of the roll ; after which, a debate sprung op
tin reference lo the admission of those na in
’ hers who had not been elected in conformity
■ to the apportionment taw, and a Protest was
submitted by Mr.Bnrnard.of New-York, sign
•cd by fifty members of the House, against
permitting the Representatives from Nevv-
Har.ipshire. Georgia, Mississippi and Missou
ri to vote for Speaker. T lie Protest was re
jected by a vote of 124 to 69, and the House
proceeded to the election ol Speaker. Upon
the first ballot, Mr. John W. Jones, of Virgin
ia, (V.B. Der.i..) received 128 and Mr. John
White, of Kentucky, (Whig,) 59 voles.
Mr. Jones was conducted to the Cnair by
Messrs. Coles oI Virginia, nod Adams of Mas
sachusetts, and Mr. Dixon It. Lewis,ol Ala
bama, administered to the Speaker elect the
usual oath of office. After a brief and rip
propriate Address to the House, the Speaker
proceeded to qualify the members it) the or
der of the Stales.
Mr. Dromgoole moved to adopt the Rules
.and Orders of the last session, when, us a
matter of course, Mr. Adams moved to amend
bv excepting the famous twenty-third Rule, j
‘against the reception of Abolition Petitions.
Mr. Duncan moved to except the thirty-first
Rule of the last Congress, limiting speakers
in debate to one hour.
After considerable debate and parliament,
ary mnnCßiiveiiug the vote was taken, which
resulted in retaining the tliiriv-fiist Rule.
The question then came up on Mr. Adams’
motion to except tlie twenty-third Rule, which
was rejected by a small majority.
Considerable debate ensued upon the res
trictions of the freedom o( speech, which, it
is contended,have crept into the code of Rules
for the government of the House, in which
Messrs. Wise, Adams, Ingersoll. Cave John
son and Rlictt bore a principal part. Other
important amendments to the Rules, having
for their object the removal of these obstacles,
were moved by Mr. Wise and adopted. But,
finally, on motion of that gentleman, the mo
tion of Mr. Dromgoole was so amended us to
adopt Ihe Rules of the last session until the
report of a Committee of nine on the subject
of a revision of Rules be adopted.
The House appointed 12 o’clock, M., as
the hour for meeting for the present.
That he might not be superceded by some
.one equally ambitious of dividing with Mr.
Bentoo, the great Expunger, the fame of ab-
ject servility to the will of “ the greatest and
best, ’ Mr. Charles J. Ingersoll gave notice—
on this first day of the session—that he would
nt ns early a day ns possible, ask leave to in
traduce a bill for the benefit of General An
drew Jackson.
The House adjourned at a late hour.
■
J tt?“ VVe regret to learn that Mr. Stephens
! has, sinre his arrival at Washington City,
been confined to his room by severe indispo
| wit ion. The “ Intelligencer” says—“liisdis
i Pilsp has, however, now begun to yield to mid
! icn ’ treatment, and his friends confidently
hope that lie will in a few days be at his post
in the House of Representatives.” Thousands
of I.is fellow-citizens of Georgia will await,
wMi intense interest, the news of his conva
i lescenco.
Who’ll hear the Ashland Banner?—
I At it recent meeting in Wheeling, Virginia,
j tlie Chairman of the Clay Club of that city
i announced the names of three hundred and
fifty dtlegates to the Young Men’s Convention
of Ratification, to be held in Baltimore in May
next. That same old Coon is awake in the
; West. Don't vou hear him, Whigs of Geor
| gia ? ‘
{£?=■ The Tennessee Democratic State Con
vention, held at Nashville, on the 23d ultimo,
nominated James K. Polk for Vice-President,
and pledged themselves to ‘'go the. whole hog”
that the National Convention ntay designate.
P MESSAGE.
To the Seriate and
House f Representatives of the U. S.
If any people ever had cause to render
up thanks to the Supreme Being, for paren
tal rare and protection extended to them
in all the trials and difficulties to which they
have been from time to time exposed, we
certainly ore that People. From the first
settlement of our forefathers on this conti
nent—through the dangers attendant upon
the occupation of a savage wilderness—
through a long period of Colonial depend
—through the war of the Revolution—in
the wisdom which led to the adoption of the
existing Republican forms of Government
—in the hazards incident to a war suhse
qnonlly waged with one of the most pow
erful nations of the eaitli—in the increase
of our population—in the spread of the
arts and sciences, ami in the sticnglh and
durability conferred on political institutions
emanating from People and sustained
!>y their will—the superintendence of an
overruling Providence has been plainly visi
ble. As preparatory, therefore, to enter
ing once more upon the high duties of legis
lation, it becomes tishnmbly to acknowledge
our dependence upon Him as our guide and
protectoi, and to implore continuance of
His parental watchfulness over our beloved
country. Wc have new cause for tlie ‘ex
pression of our gratitude in the preserva
tion of the health of our fellow-citizens,
with some partial and local exceptions, du
ring the [>ast season—fin the abundance
with which the earth has yielded up its
fruits to the labors of the husbandman—for
jlie renewed activity which lias been im
parted to commerce—for the revival of
trade in all its departments—for the increas
ed rewards attendant on the exercise of the
mechanic arts—for the continued growth of
our population and the rapidly reviving
prosperity of the whole country. I shall
he permitted to exchange congratulations
with you, gentlemen of the two Houses of
Congress, on these auspicious circumstan
ces, mol to assure you, in advance of my
ready disposition to concur with you in the
adoption of all such measures as shall he
calculated to increase the happiness of our
constituents and to advance the gloty of our
common country.
Since the last adjournment of Congress,
the Executive has relaxed ito effort to ren
der indestructible the relations of amity
w'hieli so happily exist between the United
States and other countries. The treaty
lately concluded with Great Biitain lias
tended gieaily lo increase the good under
standing which a reciprocity of interest is
calculated to encourage, and, it is most ar
dently to he hoped that nothing may trans
piie to interrupt the relations of amity
which it is so obviously the policy of both
nations to cultivate.
A question of mrcli importance still re
mains to be adjusted between them. The
territorial limits of the two countries in re
lation to wlmt is commonly known as the
Oregon territory still remain in dispute.—
The United States would be at all times in
disposed to aggrandize themselves at the
expense of any other nation; hut while
they would he restrained by principles of
honor, which should govern the conduct of
nations as well as that of individuals, from
setting up a demand for territory which
does not belong to them, they would as un
willingly consent to a surrender of their
lights. After the most rigid, and os far as
practicable, unbiassed examination of the
subject, the United States have always con
tended that their t ights appertain to the en
tire region of countiy lying on the Pacific,
and embraced within the forty-second and
MADISON, MORGAN COUNTY, GEORGIA, SATURDAY NIGHT, DECEMBER 9, 1843.
fifty fourth 40’ of North latitude. The
claim being controverted by Great Biitain,
those who have proceeded the preset.t Ex
ecutive, actuated, no doubt, by an earnest
desire to adjust the matter upon terms mu
tually satisfactory to both count lie*, lave
caused to he submitted to the British Gov
ernment, [impositions for settlement ami
final adjustment, which, however, have not
proved heretofore acceptable to it. Our
Minister at London has, under instructions,
again brought the subject to the considera
tion ot that Government, and while- nolli
inp will he done, to compiom ! tlie sight-, n
honor of the United States, every proper
expedient will re resorted to ‘n older to
tiling the negotiation now in brogress of re
sumption to a speedy atiu happy teimina
tion. In the meantime it is proper to re
maik, that many of our ciiizens are either
already established in the tenitorv, or are
on their way thither for the purpose uffnt til
ing peimanent settlements, while others are
piepai ing to follow—and in view of these
facts, 1 must repeat the recommendation
contained in previous messages, for the es-
I tahlislmient of military posts, at such places,
on the line of tiavel, as will furnish security
ami protection to our hardy acventureis
against hostile tribes ol Indians inhabiting
those extensive regions. Our laws should
also follow them, so modified as the circum
stances of the case may seem to requite.
Under the influence of onr free system of
government, new republics are destined to
spring up, at no distant day, on the shores of
the Pacific, similar in policy and in feeling
to those existing on this side of the Rocky
Mountains, and giving a wider and mote ex
tensive spread to the principles of civil and
religious liberty.
1 am happy to inform you that the cases
which have arisen, from time to time, of
! the detention of American vessels by Brit
j i>h cruisers on the coast of Africa, under
! pretence of being engaged in the slave
! trade, have been placed in a fair train of ad
i justmeiit. In the case of William & Fran
i cis, full satisfaction will be allowed.
j In the cases of the Tygris and Seaniew, the
British Government admits that satisfaction
is due. In the case of the Jones, the sum
accruing from the sale of that vessel and
cargo will he paid to the owners—while 1
cannot hut flatlet myself that full indemni
fication will he allowed for all damages sus
tained by the detc nth nos the vessel —and
in the case of the Douglass, her Majesty’s
Government has expressed its dcteiniiua
lion to make indemnification. Sitting hopes
are tlu icfbre entertained, that most, if not
all of these cases will he speedily adjusted.
No new cases have aiinert since the ratifi
cation of the Treaty of Washington; and it
is confidently anticipated, that the slave
trade, under the operation of the eighth nr-
L ti-'lc l of tl ;.T tr-THy, wifi le altogether sii|>
pressed.
The occasional interruption experienced
by our fellow-citizens engaged in the fishe
ries on tlie neighboring coast of Novia Sco
; tia, has not failed to claim the attention of
the Executive. Representations upon this
| subject have been made, but as yet no dt fi
! nitive answer to those representations has
i been received from the British Government.
Two other subjects of comparatively mi
nor importance, but nevertheless of too
! much consequence to be neglected, remain
still to he adjusted between the two coun
tries. By the Treaty between the United
Nates and Gieat Britain, if July ISIS, it is
provided that no higher duties shall he lev
ied in either country on articles imported
from the other, than on the same articles im-
I potted from any other place. In 1836,
rough i ice, by act of Parliament, was ad
mitted from the coast of Africa into Great
Britain on the payment of a duty of one pen
ny a quarter, while the same article front all
other countries, including the United Slstes,
was subjected to the payment of a duty of
twenty shillings a quarter. Our Minister nt
London has from time to time hi ought this
subject to the consideration of the Biitish
Government, hut so far without success
He is instructed to ienuw his tepresentations
upon it.
Some years since n claim was prefetied
against the British Government on ihe pail
of eeitain American merchant*, for the ie
turn of export duties paid by them on ship
ments of woollen goods to the United .States,
after the rlntv on similar ait ides exported
to other countries bail been repealed, and
consequently in contravention of the com
mercial convention between the two na
tions seeming to us equality in such cases.
The principle on which the claim rests has
long since been virtually admitted by Great
Biitain, hut obstacle* to a settlement have
from time to time been interposed, so that a
large portion of the amount claimed lias not
yet been refunded. Our Minister is now
engaged in the prosecution of the claim, and
I cannot put persuade myself that the Brit
ish Government will no longer delay its ad
justment.
I am happy to be able to say that nothing
has occurred to disturb in any degree the re
lation of amity which exist between the
United States and France, Austria and Rus
ia, as well as with the other Powers of Eu
rope, since the adjournment of Congress.—
Spain has been agitated with internal con
vulsions for many years, from the effects of
which it is to bo hoped she is destined spee
dily to rocover—when under a more liberal
system of commercial policy <>n her part,
our trade with her may again fill it old and
s ofar as her commercial possessions are
concerned, its almost forsaken channels,
thereby adding to the mutual prosperity of
the two countries.
The Germanic Association of Customs
and Commerce, w hich, since its establish
ment, in 1833, has been steadily growing in
power and importance, and consists at this
time of more than twenty German States
and embraces a population of 27,000,000 of
people united for all the purposes cifcom
mercial into course with each other and
with foreign states, offers to the latter
the most valuable exchances on prin
ciples more libetal than are offered in
the fiscal system of any other European
power. From its origin, the importance of
ilia German Union has never been lost sight
of by the United Stales. The industry,
morality and other valuable qualities
of the German nation, have always been
well known and appreciated. On this sub
ject I invite the attention of Congress to the
report of the Secietaiy of State from which it
will be seen that while our cotton is admit
ted ftee of duty, and the duty on rice has
been much reduced, which lias alrea
dy led to a greatly increased consump
tion, a strong disposition has been recently
evinced by that great body to reduce, upon
certain conditions, their present duly upon
tobacco. This being the first intimation of
a concession on this interesting subject ever
made by any European power, I cannot but
regard it as well calculated to remove the
only impediment which has so far existed
to the most liberal commercial intercourse
between us and them. In this view, our
Minister at Beilin, who has heretofore ir.-
dustiiously pursued tlie subject, has been
instructed to enter upon the negotiation of
a commercial treaty, which, while it will
open new advantages to the agricultuial in
terests of the United States, and a more
free and expanded field for commetcial op
erations, will affect injuiiously no existing
interest of the Union. Should the negotia
tion be crowned with success, its tesults
will be communicated to both Houses of
Cong i ess.
I communicate herewith certain despatch
es received from our Minister, and also a
correspondence which has recently occurred
hetwi en the Envoy from that Republic and
the Secretary of State. It must he regatd
ed as not a little extraordinaty that the Gov
ernment nf Mexico, in anticipation of a
public, discussion, which it has been pleas
ed ro infer from newspaper publications, as
likely to take place in Congress, relating to
the annexation of Texas to the United
States, should have so far anticipated the
result of sm li discussion as to have an
nounced its deter initiation to visit any sueh
anticipated decision by a formal declaration
of war against the United States. If de
signed to prevent Congress from intioduc
ing that question, as a fit subject for its calm
deliberation and final judgment the Execu
tive lias no reason to doubt that it will en
tirely fail of its object. The Representa
tives of a brave and patriotic people will
suffer no appiehensioti of future conse
quences to embarrass them in the comse of
their ptoposed delihetaliens. Nor will the
Executive Department of the Government
fail, for any such cause, to discharge its
whole duty to the country.
The war which lias existed for so long a
time bet wean Mexico and Texas has, since
the battle of .San Jacinto, consisted for the
most part of predatory incursions, which,
while they have been attended with much
of suffering lo individuals, and have kept
the holders of the two countries in a state
of constant alarm, have failed to approach
to any definitive result. Mexico has fitted out
no foimndahle armament by land or by sea
for the subjugation of Texas. Eight years
have now elapsed since Texas declared her
independence of Mexico, and during that
lime she has been recognized as a sovereign
fiower by several of the principal civilized
states. Mexico, nevertheless, perseveres
in her [ilnna of leeunqnest, and refuses to
recognise her independence. The preda
tory incursions to which I have alluded,
have been attended, in one instance, with
the breaking up of the courts of justice by
the seizing upon the persons of the judges,
jury and officers of the court, and dragging
them along with unarmed, and therefore
noii-comhiilanr citizens into a cruel and op
pressive bondage, thus leaving crime to go
unpunished and immorality to pass unre
ptoved. A border warfare is evermore to
he deprecated, and over such a war as has
existed for so many yesis between these
two States, humanity has had great cause to
lament. Nor is such a condition of things
to he deplored only because of the individ
ual suffering attendant upon it. The effects
are far more extensive. The Creator of the
Universe has given man the Earth for his
resting place, and its fruits for his subsis
tence. Whatever, therefore, shall make
the first or any pait of it a scene of desola
tion, affects injuriously his heritage, and may
he regarded as a general calamity. Wars
may sometimes he necessary; hut all na
tions have a common interest in bringing
them speedily to a close. The United
States liuve an immediate interest in seeing
an end put to the state of hostilities existing
between Mexico and Texas. They are our
neighliora, of the same continent, with
whom we are not only desirous of cultiva
ting the relations of amity, nut of the most
extended commercial intercourse, and to
practice all the rights of a neighborhood
1 hospitality. Our own interests are deeply
involved in the matter, since, however neu
tral may be our course of policy, we con
j not hope to escape the effects of a spirit of
jealousy on the part of With of the powers.
Nor can this Government lie indiffeieut to
the fact, that a warfare such as is waged
j between thofc two nations, is calculated to
weaken both [lowers, and finally to render
them, and especially the weaker of the ttvo,
the Bubjc cts of interference on the pnrt of
stronger and more powerful nations which,
intent only on advancing their own peculiar
views, may sooner or later attempt to bring
alxiut a compliance with terms, us the con
dition of their interposition, alike derogato
ry to the nation granting them and detri
mental to the interests of the United States.
Wc could not he expected quietly to permit
any such interference to our disadvantage.
Considering that Texas is separated from
the United States by a mere geogiaphieal
line, that her territory, in the opinion of
many, foirned a portion of tlie territory of
the United States, that it is homogeneous in
its population and pursuits with the adjoin
ing States, makes contributions to the com
merce of the world in the same articles with
them, and that most of her inhabitants have
been citizens of the United Stales, speak
the same language and live under similar
political institutions with ourselves, this
Government is bound by< very consideration
of interest as well as of sympathy, to see
that she shall be left free to act, especially in
regard to her domestic affairs, unawed by
force, and unrestrained by the policy or
views of other countries.
In full view of all these considi rations, the
Executive has not hesitated to express to the
Government of Mexico how deeply it depre
cated a continuance of (he war, aud how anx
iously it desired to witness its termination
I runout hut think it becomes the U. States,
as the o'drst of the Ameiican Republics, lo
hold a language to Mexico upon this subject
of an unambiguous character. It is time that
this war had ceased. There must be a limit
to all wars ; and if the parent Stale, after an
eight years’ struggle, has failed to reduce to
submission a portion of itssuLjicts standing
out in revolt against it, and who have not
only proclaimed themselves to he indepen
dent, hut have been recognized os such by
other powers, she ought not to expect that
other nations will quietly look on,to their ob
vious injury, upon a protraction of hostilities.
These United States threw’ off their colonial
dependence, and established independent gov
ermnents; and Gnat Britain, after having
wasted her energies in the attempt to subdue
them fora less period than Mtxice has at
tempted to subjugate Texas lad the wisdom
and justice to acknowledge llicir indepen
dence, thereby recognising the obligation
which rested on tier as one of the family of
nations. An example thus set by one of the
proudest as well as most powerful nations of
the earth, it could in no way disparage Mex
ico to imitate. While, therefore, tlie Execu
live w ould deplore any collision with Mexico,
or any disturbance of the friendly relations
which exist between tlie two countries, it
ennnot permit that Government to control its
policy, whatever it may be, towards Texas;
hut w ill treat her ns by tlie recognition of her
independence the United States have long
since declared they would do, as entirely in
dependent of Mexico. The high obligations
of public duty tnay enforce fmm the constitu
ted authorities of tlie United States a policy
which the course persevcied in by Mexico
will have mainly contributed to produce; and
the Executive, in such a contingency, will
with confidence throw itself upon the pntiiot
ism of the People to sustain the Got ernment
in its course of action.
Measures of an unusual character have
recently been adopted by the Mexican Gov
ernment calculated in no small degree to
affect the trade of nthet nations with Mexi
co, and to operate injuriously to the United
Slates. AM foteigneiw by a decree of the
23d day of September, and after six months
from the day of its promulgation, are for
bidden to carry on tlie business of selling
by retail any goods within the confines of
Mexico. Against this decree our Minister
has not failed to remonstrate.
The trade heretofore carried on by our
citizens with Santa Fe, in which much cap
ital was already invested, and which was
becoming of daily increasing impro lance,
has suddenly been artested by a decree of
virtual prohibition on the pait of the Mexi
can Government. YVhetevei may be the
r ight of Mexico to prohibit any particular
course of trade, to the citizens or subjects
of foreign powers, thii late procedure, to
say the least of it, wears a harsh and nn
fiiendly as[ecf.
The instillments on the claims recently
settled by theConventiou with Mexico have
been punctually jiaid as they have fallen
due, and our Minister is engaged in urging
the establishment of anew commission in
pursuance of the Convention of the settle
ment of unadjusted claims.
With the other A met icon States our re
lations of amity and good will have remain
ed uninterrupted. Our Minister near the
Republic of New Grenada has succeeded
in effecting an adjustment of the claim up
on that Government for the schooner “ By
Chance,” which bad been pending for many
years. The claim for the brig “ Morris,”
which had its origin during the existence of
the Republic of Columbia, and indemnifi
cation for w'hich, since the dissolution ol
W. T. THOMPSON, EDITOR.
ihot Republic, lias devolved on its several
members, will be utged with renewed zeal,
1 have much pleosute in saying that the
Government t s Brazil has adjusted the
claim upon that Government in the case of
the schooner “John S. Bryan,” and that
sanguine hopes ate enleitained that the
same spirit of justice w ill influence its
councils in arriving at an early decision up
on the remaining claims ; thereby remov
ing all cause of dissension between lira
Powers, whose interests are to some extent
interwoven with earli other.
Gut Minister at Gliili has suerrcded in in
due. ng a recognition by that Government,
of the adjustment effected by his predeces
sor of the first claims in the rase of the
“ Macedonian.” The first imstalment has
been received by the claimants in the Uni
ted States.
Notice of the exchange of ratifications
of the trenly with Petu, which will take
place at L mn. has not yet reached this
country, but is shortly expected to be re
reived. when ll e claims upon that I’epul’
lie will doubtless le liquidated and paid.
In consequence of a misunderstanding
between this Government and that of Bue
nos Ayres, oreurring several years ugo, this
Government has icnmitied unieprtsenteJ
at that court, while e minister from it has
been constantly resilient heic. The causes
of irritation have in a great measure pass
ed away, and it is iti contemplation, in view
of important intetcats w Inch have gtown
up iu that country, at some early period
dining he present session of Congress,
with the cnncurtence of the Senate, to le
store diplomatic relations between the two
countries.
Under the provisions of an act of Cot
gress of the last session, a Minister was des
patched from the I'nited Slate*-to China, in
August of the present year, who, from
the latest accounts we have from him, was
at Suez, in Egjpt, on the 23th of Septem
ber last, on his route to China-
In regard to tbe Indian friPiesr residing
within our jurisdictional limits, the greatest
vigilence of the Government has been ex*
cried to presetve them at pence among
themselves, and to inspire them with feel
ing of confidence in the justice of this Gov
i srnmttil, and to cultivate friendship with
the holder inhabitants. This has happily
succeeded to a gteal extent ; but it is a sub
ject of tegret that thpy suffer themselves in
some instances to he imposed upon by art
ful and designing men—and this notwith
standing all the efforts of the Government
to prevent it.
The rccicpts into tl eTrei smy for tl e
cnlemluryear 1843, exclusive of loans, were
little mote than eighteen millions of dol
lars; and the expendituies, exclusive of
payments on the public debt, wi’i have been
about twenty-three millions of dollars. By
the Act of 1842, anew arrangement of
the fiscal year was made, so that it should
commence on the Ist day of July ill each
year. The accounts and estimates for the
current fiscal year, will show that the loons
and Treasury notes made ar.d issued befnte
the close of the lust Congress, to meet the
anticipated deficiency, have not been e
tiiely adequate. Although on the Ist of
October last, there was a balance’ in the’
Treasuty in consequence of the provision,
thus made of £3,914,082 77, yet the appro
priations already made by Congress will
absorb that balance, and leave a probable
deficiency of two millions of dnllats at the
close of the present fiscal year. There are
outstanding Treasury notes to the amount
ot tour millions six hundred thousand dol
lars ; and should they lie returned upon
) reasury during the fiscal year, they will\
require provision fin- their redemption. I
do uoL however regard this as probable,
since they have obviously entered into the
currency of tbe country, and will continue
to form a pottion of it, if the system now
adopted bo continued. The loan ot IS4I,
amounting to $5,672,970 88, falls due on.
tbe Ist ot January, 1845, and must be pro
vided for or postponed by anew loan. And
unless the resources of revenue should be
u a’eiially increased by you, there will lie a
probable deficiency for tbe service of the
fiscal year ending .1 une 30th, 1845, of up
waids of about four millions of dollars.
The delusion incident to ar. enormous
ly excessive paper circulation, which gave
a fictitious value to eveiy thing, and stimu
lated adventure arid speculation to an ex
travegant extent, has been happily succeed-,
cd by the substitution of the precious met
als and paper promptly redeemable in spe
cie, and thus false values ha\e disappeared,
and a sounder condition of things has been
introduced. This transition, although
mutely connected with the prosperity of the
country, has nevertheless beet) attended
with much etnbatra-sment to the Govern
ment, in its financial qongerua. So long as
the foieign importers could receive payment
for their caigoes in a currency of greatly
less value than that it) Europe, but fully
available here in the purchase of out agri
cultural productions, their profits being im
measurably augmented by the operatioh,
tbe shipments were large anti the tcvenuo
of tbe Government became superbundadt.
But the change in tbe character of the cir
culation liom a nominal and apparently
value, in the first stages of its existence, to
an obviously depreciated value in its second
so that it no longer answered *the purposes
of exchange or barter, and its ultimate sub
stitution by a sound metallic and dr\