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VOLUME 11. | BY C. R. HANLEITER. ©ITA Y H PAIPEKio PRESIDENT’S MESSAGE. To tie Senate and House of Representatives of the U. S. If any people ever had cause lo render up thanks Jo the Supreme Being, for paren tal care and protection extended to them in all the trials and difficulties to which tliev have been from time to time exposed, we certainly are that People. From the first settlement of our forefathers on this conti nent —through the dangers attendant upon the occupation of a savage wilderness— thro’ a long period of Colonial dependence —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 subse quontly waged with one of the most pow erful nations of the esith—in the increase of our population—in the spread of the arts and sciences, and in the stiength and durability conferred on political institutions emanating from the People and sustained by their will—the superintendence es an overruling Providence has been plainly visi ble. As preparatory, therefoie, to enter ing once more upon the high duties of legis lation, it becomes us humbly to acknowledge our dependence upon Him as our guide and protector, and to implore a continuance of His parental watchfulness ovei our beloved country. We have new cause for the ex pression of our u t sit it nr le in the preset va tion of the health of our fellow-citizens, with some partial and local exceptions, du ring the past season—for the abundance with which the earth lias yielded up its fruits to the labors of the husbandman—for the renewed activity which has been im ported 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 lie permitted to exchange congratulations with you, gentlemen of the two Houses of Congress, on these auspicious circumstan ces, and 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 no effort to len der indestructible the relations of amity which so happily exist between the United States and other countries. Ihe treaty lately concluded with Gteat Britain lias tended greatly to increase the good under standing which a reciprocity of interest is calculated to encourage, and, it is nio.-t ar dently to he hoped that nothing may tians pite to interrupt the relations of amity which it is so obviously the policy of both nations to cultivate. A question of much importance still re mains to he adjusted between them !he teiritorial limits of the two countries in re lation to what is commonly known as the Oregon territory still remain in dispute.— The United States would he at all times in disposed to aggrandize themselves fit the expense of any other nation ; but 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 After the most rigid, and as far as practicable, unbiassed examination of the subject, the United States have always cort .tended that their rights appertain to the en tire region of country lying on the I acific, and embraced within the 42d mid 54th de gree and 40 minutes of North latitude. *1 he claim being controverted by Great Biitain, those who have preceded the preset.t Ex ecutive, actuated, no doubt, by an earnest desire to adjust the matter upon terms mu tually satisfactory to both countries, have caused to he submitted to the British Gov eminent, propositions for settlement and final adjustment, which, however, have not proved’ heretofore acceptable So it. Our Minister at London has, under instructions, again brought the subject to the considera tion ot that Government, and while noil.- iiig will be done to compromit the rights, ot honor of the United States, every proper expedient will be resorted to in mdei to bring the negotiation now in progress <*• re sumption to u speedy and happy termina tion. In the meantime it is proper to re mark, that many of our citizens are either already established in the territory, or are on their way thither for the purpose of form ing permanent settlements, while others ate preparing to follow —and in view of these facts, I must repeat the recommendation contained in previous messages, for the es tablishment of military posts, at such places, on the line of travel, as will furnishsecurity and protection to our hardy udventureis against hostile tribes ot Indians inhabiting those extensive regions. Our laws should also follow them, so modified as the circum stances of the case may seem to require. Under the influence of our free system of government, new republics are destined to spring up, at no distant day, oil 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 more ex tensive spread to the principles of ct\n and religious liberty. A WssMy s Bavotodl to ffoMftfoß, Maws, ILfitoratairi Modhamito Arts, gaiama®, &®. I. nut happy to inform you that the cases which have arisen, fiom time to time, of the detention of American vessels by Brit ish cruisers on the coast of Africa,‘under pretence of being engaged in the slave trade, have been placed in a fair train of ad justment. In the case of William & Fran cis, full satisfaction will he allowed. In the cases of the Tygtis and Seamew, the British Government admits that satisfaction iis due. In the ease of the Jores, the sum accruing front 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 allow ed for all damages sus tained by the detention of the vessel—and in the case of the Douglass, her Majesty’s Government has expressed its detetmina • ion to make indemnification. Strong hopes j me Ihe i cfoie entertained that most, if not I tdl. of these eases will he speedily adjusted. No new cases have arisen since the ratifi cation of the Treaty nf Washington; and it is confidently anticipated, that the slave trade, under the operation of the eighth ar ticle of that treaty, will he altogether sup pressed. 1 lie occasional interruption experienced hy our fellow-citizens engaged in the fi.slm ties on the neighboring coast of Novia Sco tia, has not failed to claim the attention of the Executive. Representations Upon this subject have her n made, but as yet no defi nitive answer to those representations has been received from the British Government Two other subjects nf comparatively mi nor importance, but nevertheless of too much consequence to he neglected, remain still to he adjusted between the two coun tries. By the Treaty between the United Nates and Gteat Britain, of July ISIS, it is provided that no higher duties shall he lev ied in either country on articles imported front the other, than on the same articles int poited from any other place. In 1836, rough t ice, hy act of Parliament, was nd milted fmm the coast of Africa into Great Britain on the payment of a duty of one pen ny a quarter, w hile the same ailicle front all other conntties. including the United Ststes, was subjected to the payment of n duty of twenty shillings a quarter. Our Minister r.t London has fmm lime to time brought this subject to the consideration of the Btilisli Government, hut so far without success Ileisi strucleilto renew his representations Upon it. Some years since a claim was preferred against the British Government on the pail of certain American men hauls, for the te turn of export duties paid I y them on ship ments of woollen goods totlie Ulihed States, after the duty on similar articles exported to other cotitiiiies hud been repealed, and consequently in conltiivetition of the corn menial convention between the two na tions securing to us equality in such cases. The pi incipient) which the claim tests lias long since been virtually admitted hv Gieat Bt itain, hut obstacles to a settlement have fiom time to time been interposed, so that a large portion of the amount claimed has not yet been refunded. Our Minister is now engaged in the prosecution of the claim, anil 1 cannot put persuade myself that the Brit ish Government will no longer delay its ad justment. 1 am happy to he able to say that nothing has occurred to disturb in any degree the re lation of amity which exist between the United Slates and Fiance, Austria and Bus in, as well as with the other Powers of Eu rope, since the adjournment of Congress.— Spain has been agitated with internal con vulsions fiir many years, from the effects of which it is to he hoped she is destined spee dily to recover—when under a more lihetal system of commercial policy on her part, our trade with her may again fill its old, and so far as her commercial possessions ate concerned, its almost forsaken channels, thereby adding to the mutual prosperity of the two countries. The Germanic Association of Customs and Commerce, which, since its establish ment, in 1533, has been steadily grow ing in power and importance, and consists at this time of more than twenty German Slates, and etnbiaces a population of 27,000,000 of people, united for all the purposes nf com mercial intercourse w ith each other and with foreign stales, offers to the latter the most valuable exchatices mi prin ciples more liberal than are offered in the fiscal system of any other European power. From its origin, the importance of the 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 knowi’J anil appreciated. On this sub ject 1 invite tLet attention of Congress to the report of the SeciefM'Y ofStatefrom which it will he seen that w hile our cotton is admit ted free of duty, and the atity on lice has been much reduced, which Ims alrea dy led to a greatly increased consump tion, a strong disposition libh been recently evinced by that great body to reduce, upon certain conditions, their present duty 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 ns 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 Berlin, who has heretofore in dustriously pursued the subject, has been instructed to enter upon the negotiation of MADISON, MORGAN COUNTY, GEORGIA, FRIDAY MORNING, DECEMBER 15, 1843. a commercial treaty, which, while it will open new advantages to the agricultural in terests of the United Slates, and a more free and expanded field for commcn ial op ; erarions, will affect iujuiiniisty tin existing interest of the Union. Should the negotia tion he crowned with success, its tesults ] will he communicated to both Houses of ! Congress. | I communicate herewith certain despatch* j es received from our Minister at Mexico, and ; also a ciirrespiitidence w hich has recent 1 v oc curred betvvi eri the Envoy from that Repuh | lie and the Secretary of State. It must hr re - guided as not a little extraordinary that the Govt tnmi tit of Mexico, in anticipation of a public discussion, which it has been pleas ed to infer fiom newspaper publications, as i likely to take place in Congress, relating to j the annexation of Texas to the United Slates, should have so far anticipated the result of such discussion as to have an nounced itsdetciminntio!i to visit utiv such anticipated decision by a formal declaration of war against the United Stairs. It de signed to prevent Congress from introduc ing that question, as a fit subject for its calm deliberation and final judgment, the Execu tive has 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 apptehrusion of future conse quences to embarrass them in the comse of their proposed deliberations. Nor will the Executive Department of the Government fail, for any such cause, to discharge its whole duty to the country. ‘1 he war which has existed for so long a time between 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 to individuals, and have kept the holders of the two countries in a state of constant alatrn, have failed to approach to any definitive tesult. Mexico has fitted out no foimadalde armament hy land or by sea for the subjugation of Texas. Eight years have now elapsed since Texas declared her independence of Mexico, and during that time she has been recognized as a sovereign power liy several of the principal civilized states. Mexico, nevertheless, perseveres in her plans of teconquest, and refuses to recognise her independence. The preda tory inclusions 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 persona of the judges, juty and officetsof ifie* court, and dragging them tilmig with unai med, and therefore turn combatant citizens into a etnel and op pressive bondage, thus leaving crime to go unpunished and immorality to pass nnre ptovi-d. A border wat fare is evermore to he deprecated, and over stu h a war as has existed for so many veats between these two States, humanity has had gteat cause to lament. Nor is such a condition of things to lie deplored only because of the individ ual suffering attendant upon it. The effects are far more extensive. The Creator of the L’niverse has given man the Esith for his resting place, and its fruits for his subsis tence \V hatever, therefore, shall make the first or any pait of it a scene of desola tion, affects injuriously his heritage, nitrt may be regarded as a general calamity. Wats may sometimes lie necessary; but nil ra tions have a common interest in bringing them speedily to a close. The United .States have an immediate interest in seeing an end put to the state of hostilities existing between Mexico and Texas. They are our neighbors, of the same continent, with whom we are not only desirous of cultiva ting the relations of amity, out of the most extended commeteial intercourse, and to practice all the rights of a neighbotlfiod hospitality. Ournwn interests tiff deeply involved in the matter, since, however neu tral may be our course of policy, we can not hope to escape the effects of a spirit ot jealousy on the part of both of the powers. Nor can this Government be itidifleient to the fact, that a wa tfa re such as is waged between those two nations, is calculated to weaken both powers, and finally to rentier them, and especially the w eaker of the two, the subjects of interference on the part of stronger and more powerful nations which, intent only on advancing their own peculiar views, may sooner or later attempt to Iniug about a compliance with terms, as the con dition of their inlet position, alike derognto ty to the nation granting them anil detri mental to the interests of the United Slates. W e could not lie expected quietly to pet mit any such interference to our disadvantage. Considering ‘.lmt Texas is separated from the United States hy a mere gengtnpliical line, that Iter tenitorv, in the opinion of many, down to a late period, formed a por tion of the territory of the United States.that it is homogeneous in its population and pur suits with the adjoining Stales, makes conti i hutions to the commerce of the world in the same articles w ith them, nnd that most of her inliabitantahavebeen citizensof theU.Stuies, speak the same language and live under sim ilar political institutions with ourselves, this Government is hound by every 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 fotce, nnd unrestrained by the policy or views of other countries. In full view of all these considerations, the Executive has not hesitated to express to the Government of Mexieo how deeply it depre- cated n continuance of the war. and how anx iously it desired Ki witness its termination.— 1 cannot hut think it becomes the U. States, as the oldest of the American Republics, to bold a language lo Mexico upon this subject of an unambiguous character. It is time that tliis war had ceased. There must be a limit to all wars; and if the parent State, after an eight years’ struggle, lias failed to reduce to submission a portion of its subjects standing out in revolt against it, and who have not only proclaimed themselves to be indepen dent, but have been recognized as such by other | oners, site ought not to expect that oilier nations wit quietly look on, to their ob vious injury, upon a protraction of hostilities. These United States threw oft’ their colonial dependence, artel established independent gov. ernments: and Great Britain, after having wasted lur energies in the attempt to subdue them fur a less period than Mexico has at tempted to subjugate Texas had the wisdom and justi-e to acknowledge their indepen dence, thereby recognising the obligation which rested on Iter as one of the family of nations. An example thus set by one of the proudest ns well as most powerful nations of the earth, it could in no way disparage Mex ico to imitate. While, therefore, the Execu tive w ould deplore any collision with Mexico, or any disturbance of the friendly relations which exist between the two countries, it cannot permit that Government to control its policy, whatever it may fie, towards Texas; hut will treat her ns by the recognition of Iter independence the United States have long since declared they would do. as entirely in dependent of Mexico. The high obligations of public duty tiny enforce fiom the constitu ted authorities of the United States a policy which the course perseveied in by Mexico will have mainly contributed to produce; and the Executive, in such a contingency, will with confidence throw itself upon the patriot ism of the People to sustain the Government in its course of action. Measures of an unusual diameter have recently been adopted by the Mexican Gov ernment calculated in no small degree to affect the trade of otliet nations with Mexi co, and to operate injuriously to the United States. All foieigners by a decree of the 23d day n/'September, uud after six mmitlis from the day of its promulgation, ate for bidden to carry on the business of selling hy retail any goods within the confine* of Mexico. Against this decree our Minister has not fuiled to remonstrate. The trade heretofore carried on hy our citizens with Santa Fe, in which much cap ital was already invested, and which was becoming r.f daily increasing importance, has suddenly been attested by a decree of virtual prohibition on the part of the Mexi can Government. Whatever may be the right of Mexico to prohibit any particular course of trade, to the citizens or subjects of foreign powers, tbit late procedure, to say the least of it, wears a harsh and un ft iendly aspect. The instalments on the claims recently settled by theConveiition with Mexico have been punctually paid as they have fallen due, and mtr Minister is engaged in urging the establishment of anew commission iti pursuance of the Convention of ;he settle ment of unadjusted claims. With the other American 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 att adjustment of the claim up on that Government for the schooner “By Chance,” which had 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 which, since the dissolution of that Republic, has devolved on its several members, will be mged with renewed zeal. I have much plenum e in saying that the Government of Brazil has adjusted the claim upon that Government in the case of the schponer “John S. Bryan,” nnd that sanguine hopes ate entertained 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 two Powers whose interests are to some extent interwoven with each other. Out Minister at Chili has succeeded in in due ng a recognition hy that Government of the adjustment effected hy his predeces sor of the first (lnitns in the case of thu “ Macedonian.” The fust imstalrnent has been received by the claimants in the Uni ted •States. Notice of the exchange of ratifications of the treaty witk Peru, which will take place at Luna, lias not yet reached this country, hut is shortly expected to be re ceived, w hen the claims upon that Repub lic will doubtless be liquidated and paid. In consequence of a misunderstanding between this Government and that of Bue nos Ayres, occurring several years ago, this Government has remained unrepresented nt that court, while a minister from it has been constantly resident here. The causes of irritation have in a great measure pass ed away, and it is in contemplation, in view of important interests which have gtnw-n np in that country, at some early period duiing the present session of Congress, with the concurrence of the Senate, to re store diplomatic relations between live two count ties. Under the provisions of an act of Con gress of the last session, a Minister was des patched from the United States to Chins, in August of the present year, who, from the latest accounts we have from him, was nt Suez, in Egypt, on the 26th of Septem ber last, on fiis route to Citing. In regard to the Indisn tribes tesiding within our jurisdictional limits, the greatest vigilence of the Government lias been ex’ cried to preserve them at peace among themselves, and to inspite them with feel ings of confidence in the justice of this Gov ernment, and to cultivate friendship with the bolder inhabitants. This has happily succeeded lo a great extent ; nut it is a sub ject of regtet that thev suffer themselves in some instances to he imposed upon by art ful and designing men—anil this, notwith standing all the dibit* of the Government to prevent it. The receipts into the Ttessury for the calendar year 1843, exclusive of loans, were little mote than eighteen millions of dol lars ; and the expendittiies, exclusive of payments on the public debt, w ill hsve been about twenty-three millions of dollars. By the Act of 1842, anew aitaugemrnt of the fiscal year was made, so that it should commence on the Ist day of July in each year. The accounts and estimates for the current fiscal year, will show that the loans anil Treasury notes made ar.d issued befoie the close of the last Congress, to meet the anticipated deficiency, have not been en titely adequate. Although, on the Ist of October last, thete was a balance in the Treasury in consequence of tin* provision thus made of 83,914,082 77, yet the appro priations already made by Congress w ill absorb that balance, and leave a probable deficiency of two millions of tlollats nt the close of the present fiscal year. There are outstanding Treasury notes to the amount of four millions six hundred thousand dol lars ; and should they he returned upon the Treasury during the fiscal year, they will require provision for their redemption. I do not, however, regard this as probable, since they have obviously entered into the currency of the country, and will continue to form a portion of it, if Ibe system now adopted be continued. Tbe loan of 1541, amounting to 55.672.97 G 88, falls due on the Ist of January, 1845, and must he pro vided for or postponed by anew loan. And. unless the resources of tevenue should lie n a eiinllv inctea-ril by you. there will be a probable deficiency for the service of the fiscal year ending June 30th, 1645, of up waids of four millions es dollars. The ‘delusion incident to ar. enormous ly excessive paper circulation, which gßve a fictitious value to evety thing, and stimu lated adventure and speculation to an ex travagant extent, has been happily succeed ed by the substitution of the precious met als and paper promptly redeemable in spe cie, and thus false values have disappeared, and a sounder condition of things Inis been introduced. This transition, although inti mately connected with tlie prospet ity of the country, has nevertheless been attended with much embarrassment to the Govern ment, in its financial concerns. So long as the foteign importers con Id receive payment for their cargoes in a cwrtency of greatly less value than that in Europe, kui fully available here in the purchase of out agri cultural productions, their profits being im measurably augmented by the operation, the shipments were large and the revenue of the Government became superabundant. But the change in the character of the cir culation from a nominal and apparently real 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, anil its ultimate sub stitution by a sound metallic and paper cir culation combined, has Iwen attended hy diminished impnilations, and a consequent falling off in the revenue. This has induc ed Congress, from 1837, to tesort to the ex pedient of issuing Tteasury notes, and finally of funding them, in order to supply defi ciencies. 1 cannot, however, withhold the remark that it is in no way compatible with the dignity of the Government that a pub lic debt should he created in lime of peace to meet the current expenses of the Gov ernment, or that temporary expedients should be resorted to an hour longer than it is possible to avoid them. 1 lie Executive can do no more than apply the mean,, w liich Congress places in its hands for the support of Government; and, happily for the good of the country and for the preservation of its liberties, it possesses. tjo power to Uvy exactions on the people, or to force from them contributions to the public revenue in any form. It can only recommend such measures as may, in its opinion, be called for by the wants of the public service, to Congress, with whom alone rests the pow er to “ lay and collect taxes, duties, imposts and excises.” This duty has upon several occasions heretofoie been performed. The present condition of things gives a fluttering promise that trade and commerce ate rapid ly reviving, and, fortunately for the country, the sources of reveuue have only to be opened, in order to prove abundant. While we can anticipate no considerable increase in the proceeds of the stiles of the public lands for reasons pet feet ly obvious to all, for several years to come, yet the public, lar.ds cannot otherwise than be re garded as the foundation of the public cred it. With so large a body of the most fer tile lands in the world under the control and at the disposal of the Government, no j NUMBER 38. V. T. THOMPSON, EDITOR. one can reasonably doubt the entire abilirv of the Government to meet its engagement's under every emergency. In seasons nf trial and difficulty, similar to those through which we ate passing, the capitalist makes his investment in the Government stocks with the most assured confidence of ultimate reimhutsement ; and w hatever may be said tn B pet tint nf jjieot tinsnrmt piosprritv, such as existed for some years after 1533,*1 should regattl it as suicidal in a season of financial embarrassment, either to alienate the lands themselves, or the proceeds arising from their sale*. The first end paramount duty of those to whom may be entrusted the administration r.f public affairs, is to guard the public credit. In re-establishing the credit of this central Government, the readiest and most obvious mode is taken to restore the credit of the Nates. The ex tremities can only he made sound by pro ducing a healthy action in the Central Gov ernment, and the history of the present day fully establishes the fact, that att increase in the value of the stocks of this Goveirnent. will, in a majority nf instances, he attended l>y an increase in the value of the stocks of the States. It should, therefore, Ite a mat ter of Reneral congratulation that amidst all the embarrassments atishig fiom surround ing ritrumstani-es, the credit of the Gov ernment should have been to fully testored that it has been enabled to effect a loan of seven millions of dollais to redeem that amount of Treasury notes, on terms mors favorable than any that have been offeied for many years. And the six per cent, stock which was created in 1842, has advanced in the hands of the holders to neatly twenty per cent, above its par value. The confi dence of the people in the integrity of their Government has thus been signally man'* f.'stifd. These opinions relative to the pub lic lands do not in any manner conflict with the observance of the most liberal policy towards those of our fellow-citizens who press forward into the w ilderness and at* the pioneers in the wink of its reclatnatic.lt. in seeming lo hII such their rtghrs of pie emptii n. the Government performs hut t.n Set of retiihulive justice for sufferings en countered and liHidships entluied, and finds ample remuneration in the comforts which its policy ensures and tlie happiness which it imparts. Should a revision of the tariff, with a view to ravenue, become necessary in the estimation of Congress, I doubt not yoa will approach the suhjert with a just and enlightened regatd to the interests of tha whole Union. The principles and views which I have heretofore had occasion- tie submit, remain uni-hanged. It can, howev er, never le too often repented flat tha pmmiiient interest of every important pui suit of life, requires for success permanen cy snd stability in legislation. These can only he attained by adopting as the basis of action, model atioti in all things, which is aa indispensably necessaiy to secure the liar* motiioos action of tlie political as of the an imal system. In our political organization, no one section of the countiy should desire tn have its supposed interests advanced at the sacrifice of all others ; hut Union being !> ureat interest, eonalby precious to alb should ite fostered and sustained by mutual concessions ami the cultivation of that spirit of compromise from which tbe Constitution itself proceeded. You will be informed, hy the report from the Treasury Department, of the measures taken under the act of the last session, ai* thorizing the re-issue of Treasury notes in lieu of those then outstanding. The sys tem adopted in pursuaiiee of existing laws, seems well calculated to save the country a large amount of interest, while it afl’otds conveniences and obviates dangers and ex pense in the transmission of funds to dis bursing agents. I refer you also to that re port for the means proposed by the Secreta i v foincrrn.se the revenue, and particularly to that pmtion of it which relates to the subject of the ware-housing system, which I earnestly urged upon Congress at its last session, and ns to the importance of whivh my opinion has undergone i".. In view of t' it , tfisonjereil condition of - Clift <-ncy nt lltg time, and the high rates Oi exchange between different pail# of ilia country, I felt it to he im umhent on me to present totlie consideration of your prede cessors a proposition ot.Aiding in no de gree with the Constitution, or with the rights of the - States, and having the aatg;-* lion not in detail, but in principle, of some of the eminent men who had preceded me in the Executive office. That proposition contemplated tbe issuing of Tteasury notes of denomination not less than five nor more than one hundred dollars, to be employed in payment of the obligations of the Gov ernment in lieu of gold und silver, at the op tion of the public creditor, and to an amount not exceeding 815,000,000. It was pro posed to make them reeeivable evety where, and to establish at vat ions points deposito ries of gold ami silver to be held in trust for the redemption of such notes, 90 ay tr>. ensure their convertibility into sp cie, No doubt wasetitcttainedthat such luitevwould have maintained a par value with, gold and silver, thus furnishing a paper currency of equal value over the Union, thereby meeting the just expectations of the peoph* and ful filling the duties of a puiental Government. V\ bother the depositories should, he oeV milted to sell or purchase bills umbra VetV limited restrictions, together with all its ntH