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A. H. BUCKNER,
VOL. 8 NUMBER 36.
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v.i.u.iiiiiuni vi rersonai naracter, will oe
MESSAGE.
To the Senate and House o f Representatives
of tite United Stales.
Fellow-Citizens: You have been as
sembled in your respective halls of legislation
under a proclamation bearing the signature
of the illustrious citizen, who was so Jalelv
called by the direct suffrages ot the people,
to the discharge of the important functions
of their Chief Executive office. Upon the
expiration of a single month from the day
of his installation he has paid the great debt
of nalure, leaving behind him a name associa
ted with the recollection of numerous bene
fits conferred upon the country during a long
life of patriotic devotion. With this mil, lie
bereavement are connected other considera-'
tions which wit I jiot escape the attention of
Pnn.rracc U. nnrnt'.nn n ,.. f.
his removal to the seat of Government, in
view of a residence of four vears.must have
. devolved upon the late President heavy ex al onor ur most earnest desire will Le to
penditures, which if permitted to burihen , maintain unbroken peace,
the limited resources of his private fortune,! I" presenting the foregoing views, I can
mavtendto the serious embarrassment of not w ithhold the expression of the opinion,
his'survivinfT familv.and it is therefore res- '. tl,al tl,crc exists nothing in the extension of
pectfully submitted to Congress whether the
ordinary principles of justice would not die
tale the propriety ot its legislative interposi
tion. By the provisions of the fundamental
law, the powers and duties of the high sta
tion to which he was elected, have devolved
upon me; and in the dispo;itions of the rep
resentatives of the States of the people, will
be found, to a great extent, a solution, of the
problem to which our institutions are, for the
first time, subjected.
In entering upon the duties of this office,
J did not leel that it wouid lie bccomin'' in
me to disturb what had been ordered
by mv i
lamented predecessor. Whatever, there-1
foie, may have been my opinion originally,
as to the propriety of :onw-nin:i Congies at I
so early a day from that of its l.tte aiijourn- j
inent, i lound a new and controlling induce
ment not to interfere with the patriotic drsi
res id the late president, in the novelty of
the situation in which I was so unexpectedly
..4 .!.. r:,. ,. :a. .,.n.l. -.;,.
"i.i .,...,.c. ..;k. i...n i.. i,.,vi !
culled to my aid, in the ;idiiiinist ration of
public affairs, the combined wisdom of the
two Houses of Congress, in order to lake
tht-i
ir counsel :ind sulvice as to the i.est mode
of extricating the Government and the conn-;
r...... .i. ....,....,.., ..n,c ,..u..,i,-,n,r I...-.1 ". '
1.'..- 1....1. T .I.-,. ...,.ct l.M.u.v Tr, r..,l
in ' myself so som, af.er mv accession to j
the Presidency surrounded hv the i.nmedi- j
... ,.nn,':,.i, f iLp Si:",.e :,nd
pie.
Xo important
changes ha vinz taken place !
in our foreign relations Miice the last session
of Congress it is not deemed necessary, on
U ! . MMn.-e..n lik sTs inlA i At. IhiIa.I ctiluniar.f
....a..... .ui-... ... p.. .... vi
in reua
.A o. il.em. I inn baonv to sav that i
1 sec nothing to destroy the hope of bein
able to preserve peace.
The ratification of the treaty with Portu
gal has been duly exchanged between the
two Governments. This Government lias
not been inattentive to the interests of those
of our citizens who have claims on the Gov
ernment of Spain, founded on express treat
stipulations; and a hope is indulged that the
renresentations which have been made to
that Government on this subject.may lead. -
ere lontr, to beneficial results."1 1
A correspondence has taken place be-l"" ,c ""' ' T
twte?, The Secretary of State and tf. Minis-! War Departmen , add, tonal JPPJJJ"
ter of Her Britannic Majesty accredited to
tbs Government on the subjectof Alexander oojecisti ii.u ' f .
McLeod'. indictment and imprisonment, A.
pies of which are herewith communicated to
Congress.
In addition to what appears from these pa
pers, it may be proper to state, that Alexan
der McLeod has been heard by the Supreme
Court of the State of N. York, on his motion
to be discharged from imprisonment, and that
the decision of that court has not as yet been
pronounced.
The Secretary of State lias addressed to
me a paper upon two subjects, interesting to
the commerce of the country, xyhich will re
ceive my consideration, and which I have the
honor to communicate to Congress.
So far as it depends on the course of this
Government our relations of good will and
friendship will be seduously cultivated with
all nationi. The true American policy will
be found to consist in the exercise of a spirit
of justice to b manifested in tbe discharge
IS
oi opinion may arise but when the discus
sions incident to them are conducted in the
language ol truth, and with a strict regard
lo justice, the scourge of war will for the
most part be avoided. The Time ought to
be regarded as having gone by when a resort
to arms is to be esteemed as the only proper
arbiter of national differences.
The census recently taken shows a regu
Inly progressive increase in our population.
Upon the breaking out of the war of the
revolution our numbers scarcely equaled 3.-
000.000 of souls, they already exceed 17,
000,000, and will continue to progress in a
ratio which duplicates in a period of about
23 years. The old States contain a territorv
sufficient in itself to maintain a population of
additional millions, and the most populous of
tne new Mates may even yet be regarded as
out partially settled, while ol the new lands
on this side of the Rocky mountains, to say
-r.L - l-. . .
Homing oi tne immense region wnicn stretch
es from the base of those mountains lo the
mouth of the Columbia river, about 270.000,
000 of acres, ceded and unceded, still re
main to be brought into market. We hold
out to the people of other countries an invi
tation to come and settle among us as mem
bers of our rapidly growing family, and for
the blessing which we otier them, we re
quire of them to look upon our country as
their country, and to unite with us in the
great task of preserving our institutions and
tnereby perpetuating our liberties. Ao mo-
livc cxis,s ,:,r foreign conquests
we desire
but ,0 reclaim out almost illimitable wilder-
neSS. Mill tO introduce itllO their dentil tllfi
"glits of civilization. While we shall at dll
t,mes be prepared to vindicate the nation-
j.ur empire, over our acknowledged posses
sions, to excite the alarm ot the patriot for
the safety of our institutions. The Federa
tive system, leaving to each State the care
of its domestic concerns, and devolving on
the Federal Government those of general im
port, admits in safety of the greatest expan
sion; but, at the same time, 1 deem it proper
to add, that there will be found to exist, at
all limes, an imperious necessity for restrain
ing a!', the functionaries of this Government
within the range of their respective powers,
thereby preserving a just balance between
lnc Pers granted io mis uovernrreni and
those reserved to the otates and to the reo-
p!e.
From t'-e report of the Secretary of the
Treasury you will perceive that the fiscal
means, presents and accruing, are sufficient
to supply the wants of the government for
thecurient year. The balance in the Trea
sury on the 4th day of .Match last, not cov-
'i it . - t- i i
ereu ov iiiaiiiiiii2 ur.aus, ;iti(i exclusive o
f
'rust funds, is estimated at .090.000. This
includes the sum of $21 5.000 depositcs in
the mint and its branches to procure metal
! for coining, and in the process of coinage,
I I I t ' II . 1 ! . I I I
I nnii ,,'rnr.ti imi n itrT nn n'liniinii'n i.-iiiiiiy
. " ..;-
'nconvcnience-lhns lea ving subject to
otalt. in the various depositories, the sum of
'$645,000. By virtue of two several acts of
Congress, the Secretary of the Treasury
wa authorized lo issue, on and after the 4th
of March Inst, Treasury notes to the amount
! r r.r m , o nan
l!e'"nd1 on ',anJ'1 ' $6,058,000.
! lilil mo iuiiu nils Liiaipuuic uui
standing Treasury notes redeemable in the
1 current year and interest thereon to the esti-
, - , fr
"" ' u " ' o-owvw.
There is also thrown upon the Treasury
the payment of a large amount of demands
accrued in whole, or in part, in former, years
which will exhaust the available means of
the Treasury and leave the accruing reve
nue, reduced 03 it is in amount, burthened
with debt, and charged wiih the current ex
penses of the Government.
The aggregate amount oi outstanding ap-
' m.u r at us i.
L'"J" ,. 'r . " , " r "7,7
P43:
!L Si, SL " V
.1 illC flUULMNmu IIIV.UW vi . - -
ticinatc
greatly inadequate to this demand. Ihe re
ceipts from customs for the last three quar
ters of the last year, amounted to $12,100,
000. The receipts for lands for the same
time to $2,742,430 60, showing an average
revenue from both sources of $1,236,870
per month. A gradual expansion ol trade,
irrnuirKTmit of a restoration of confidence,
tcethe'r with a reduction in the expenses of
collecting and punctuality on the part of col
lecting officers, may cause an addition to the
monthly receipts "from the customsthey
are estimated, from the residue of the year,
from the 4th of March, at $12,000,000
The receipts from the public lands, for the
same time, are estimated at $2,500,000, and
from miscellaneous sources, at $170,000,
making an aggregate of available funds with
in the year of $15,515,000, which will 1iv
a 1 our international obligations to the
weakest of the family of nations as well as
to the most powerful. Occasional conflicts
"power is ever STEALING FROM THE MANX TO the
BOWLING-GREEN, MO. SATURDAY, JUNE 19, 1841.
a probable deficitof $11,406,132 98. To
meet this some temporary provisions is neces
sary until the amount can be absorbed by
tne excess at revenues which are anticipated
to accrue at no distant day.
There will fall due within the next three
months Treasury notes of the issues of 1840,
including interests, about $2,850,000.
There is chargeable in the same period for
arrearages for taking the 6th Census, $294,
OOrj, and the estimated expenditures for the
current service are about $8,100,000, mak
ing tbe aggregate demand upon theilreasury.
pnorto tne ist ot September next, about
$11,340,000.
The ways and means in the Treasury, and
estimated to accrue within the above named
period, consist of abount $694,000, of funds
available on the 28th ultimo, an unissued bal
ance of Treasuay notes authorized by the
act of 1841, amounting to $1,955,000, and
estimated receipts from all sources, of $3,-
80u,000, making an aggregate of about $6,
450,000, and leaving a probable deficit on
the first of September nextoi $4,845,000.
In order to supply the wants of the gov
ernment, an intelligent constituency in view
of their best interest, will without hesitation,
submit to all necessary burthens. But it is,
nevertheless, important so to impose them as
to avoid defeating the just expectations
the country growing out of pre-existing laws.
The act of the 2nd March, 1833 commonly
called the compromise act, should not be al
tered, except under ureent necessities, which
are not believed at this time to exist. One
year only remains to complete the series
of redutions provided for by that law, at
which time provisions made by the same law,
and which then will be brought actively in
aid of the manufacturing interests of "the
Union, will not fail to produce the most ben
eficial results. Under a system of discrimi.
nating duties, imposed for purposes ot reve
nue, in union with the provisions of existing
laws, it is to be hoped that our policy will in
the future be fixed and tcrmanent so as to
avoid those constant fluctuations which defeat
the very objects they have in view. We shall
thus best maintain a position,which while it will
enable us the more readily to meet the advan
ces of other countries calculated to promote
our trade and commerce, will at the same
leave in our own hands the means of retalia
ting, with greater effect, unjusi regulations.
In intimate connection with the question
oi revenue, is mat which makes provision
r . t i i . .
fora suitable fiscal agent, capable of adding
increased facilities in the collection and dis
but semen t of the public revenues, render
ing more secure their custody, and con
suiting a true economy in the great multiplied
and denote operations ot the treasury lie-
partmcnt. Uion such vn acent dei".en!-,
in an rminriit degrer, til establishment of a
currency of uniform value, which is of so
great importance to all essential interests of.
society, and on the wisdom to be manifested
in its ci cation much depends. So intimate
ly interwoven are Its operations not only
with the interests of individuals but of
States, that it may be regarded, to a great de
gree, as controlling both. If paper be used
as the chief medium of circulation, and the
power be vested in the government of issu
ing it at pleasuie, either in the form of Treas
ury drafts or any other; or, if Banks be used
as the public, depositaries, with liberty to re
gard all surpluses bom day to day, as so
much added to their active capital, prices are
exposed to constant fluctuations, and indus
try to severe suffering. In the one place
political considerations directed to party pur
poses may control, while excessive cupidity
may prevail in tne other, i fie public is
thus constantly liable to imposition. Ex
pansions and contractions may follow each
other in rapid succession the one engender
ing the reckless spirit of adventure and spec
illation which embraces Slates as well as in-
dividuals-lhe other causing a fall in prices. Sc
accomplishing an entire change in the aspect
of affairs. Stocks of all sorts rspidly de
cline, individuals, are ruined, and States em
barrassed even in their efforts to meet with
punctuality the interest on their debts.
Such unhappily is the condition of things now
existing in the United States. These effect
may readily be traced to the causes above re
ferred to. The public revenues being ramo-
ved from the then Bank of the V. btates,
under an order of a late President, were
placed in selected Slate Banks, which, actu
ated by the double motive of conciliating
the Government and augmenting their profits
to the greatest possible extent, enlarged ex
travagantly their discounts, thus enabling all
other existing banks to do the same. Large
dividends were declared, which stimulating the
cupidity of capitalists, caused a rush to be
made to the Legislatures of the rebpective
States for similar acts of incorporation,
which by many of the States, under a tem
porary infatuation, were readily granted
and thus the augmentation of the circulating
medium, consisting almost exclusively of pa
per produced a most fatal delusion.
An illustration derived from the land sales
of the period alluded to, will serve the best
fo show the effects of the whole system.
They average sales of the p:,!.'? ,ands for a
period of ten years prior to 1834, bad not
much exceeded $8,000,000 per annum. In
1834 they attained in round numbers to the
few.'
.amonnt of $6,000,000, in the succeeding year,
of 1835, they reached $16,000,000, and the
next year of 1836, they amounted to the
enormous sum of $25,000,000 thus crow
ded into the short space of three years up
wards of seventy-three years purchase of.
tho public domain, bo apparent had become
the necessity of arresting this cejirse of
thin is, that trje Executive Department as
sumed the highly questionable power of dis
criminating in the funds to be used in pay
ment, by different classes of public debtors.
A discriminarion which was doubtlessly de
signed to correct this most ruinous state of
things, by the exaction of specie in all pay
ments for the public lands, but which could
not at once arrest the tide which had so
strongly set in. Hence the demands for
specie became unceasin?, and corres
ponding prostration rapidly ensued under
the necessities created with the banks, to cur
tail their discounts, and thereby to reduce
their circulations. I recur to these things
with no disposition to censure pre-existing
administrations of the Government, but sim
ply in examplification of the truth of the
position which I have assumed. If then.
any fiscal agent which may be created, shall
be placed without due restrictions, either in
the hands of the adninistrators of the Gov-
ofernment, or those of private individuals,
the temptation to nKise will prove to be resist
les. OijecU of private nearandizement may
seduce the firt, and the promptings of a
bound'ess cupidity will assail the last. Aided
by the experience of the past, it will be the
pleasure of Congress so to guard and fortify
the public interests, in the creation of any
new agent, to peace them, so far as human
wisdom can accomplish it, on a footing of a
perfec, security.
Within a few years past three different
schemes have been before the country.
The charter of the Bank of the U. S. ex
pired by itsown limitations in 183G;nn effort
was made to renew if, which received the
sanction of the two Houses of Congress, but
the then President of the United States ex
ercised his veto power, and the measure was
defeated. A regard to truth requires me to
say, that the President was fully sustained in
the course he had taken by the popular voice.
His successor to the Chair of State un
qualifiedly pronounced his oppposition to
any new charter of a similar institution; and
not only the popular election which bro't
him into power, but the elections throueh
'much of his term seemed clearly to indicate
a concurrence with him in sentiment on
the
part of the people.
Thus, in the short period of ciuht year?.
j l',c pp'i'ar voice may b regarded as having
successively condemned earn oi the three
sr"r''ii esf fiinnce to which I have adverted.
! A ," l''e lost it was introduced at a tiaic
,(1SI6) when the State Banks, then votnwari-
lively lew in number, hi. I been lorced to sus
pend specie payments by reason of the war
which bad previously prevailed with Great
Britain. Whether, if the United Slates Bank
charter which expired in 1811, had been re
newed in due season, it would have been en
abled to continue specie payments, during
the war, and the disastrous period to the com
merce of the country which immediately suc
ceeded, is, to say the least, prob'ematical;
and, whether the U. Slates B ink of 1816
produced a restoration of specie payments,
or the same was accomplished through the
instrumentality of other means, was a mat
ter of some difficulty at that lime to deter
mine, certain it is, that for the first years of
the operation ot that bank, its course was as
disastrous as, for the greater part of its subse
quent career, it became eminently successful.
As lor the second, the experiment was tried
with a redundant Treasury, which continued
to increase until it seemed to be the part of
wisdom to distribute the surplus revenue
among tho State.s which, operating at the
same time with the specie circular, and the
causes before adverted to, caused them to
suspend specie payments and involved Ihe
country in the greatest embarrassment. And
as to the third, if carried through all the sta
ges of its transmutation, fiom paper and spe
cie, to nothing but the precious metals, to
say nothing of the insecurities of the public
moneys, its injurious effects having been an
ticipated by ihe country, in its unqualified
condemnation. What is now to be regard
ed as the judgment of the American people
on this whole subject 1 have no accurate
means of determining but by appealing to
their more immediate representatives. The
late contest, which terminated in the election
ol Gen. Harrison to the Presidency was de
cided on principles well known and openly
declared; and while ihe Sub Treasury re
ceived in the result the most decided con
demnation, yet no other scheme of finance
seemed to have been concurred in. To you,
then, who have come more directly from the
body of our common constituents, I submit
the entire question as best qualified to cive a
full exposition of their wishes and opinions.
I shall be ready to concur with you in the
adoption of such system as you may pro
pose, reserving to myself the ultimate power
of rejecting any measure whch may, in my
viewot it, ccnnict wnn tne uonstitulion, or
"" ieopardije the power of the coun
try a power" which I could not part with
ven if I would, but which I will not beliv6
Editor aid Proprieto
WHOLE NUMBER 400.
any act of yours will call into requisition.
I cannot avoid recurring, in connection with
this subject, to the necessity which exists for
adopting some suitable measure, whereby
the unlimited creation of State banks may
be corrected in future. Such result can be)
most readily achieved by the consent of the1
States, to be expressed in the form of ajcom
pact among then selves, which they can only
enter into with the consent and approbation
of this Government. A consent which might,
in the present emergency of the public de
mands, justifiably be given by Congress in
advance of any action by the States as nn
induceint to such action upon terms well
defined by the act of tender. Such a meas
ure addressing itself to the calm reflection of
the Stales would find in the experience of
the past, and the condition of the present
much to sustain it and it is greatly to be
doubted whether any scheme of finance can
prove for any length of time successful
while the States shall continue in the unre
strained power of creating banking corpora
tions. This power can only be limited by
their consent.
With the adoption of a financial agency
of a satisfactory character, the hope may be
indulged that the country may once more re
turn to state of prosperity measures auxili
ary thereto, and in some measure insepara
bly connected with its success, will doubtless
claim the attention of Con ci ess. Among
sucn a distribution ol the proceeds of tbe
sales of the public lands, provided such a
distribution does not force upon congress the
necessity of imposing upon commerce heavi
er burthens than those contemplated by the
act of 1833, would act as an efficient remedi
al measure by being brought directly in aid
of the States. As one sincerely devoted to
the task of preserving a just balance in our
system of Government by the maintainance
ol the States in a condition the most free and
respectable, and in the full possession of all
their power, I cannot otherwise than feel
desirous for their emancipation from the situ
ation to which the pressure en their finances
now subjects them. And w hile I must re
pudiate, as a measure founded in error, and
wanting constitutional sanction, the slightest
approach to an assumption by this govern
ment ot the debts ot the states, yet 1 can
see inthe distribution adverted to, much to
recommend it. The compacts between the
proprietor States and this Government ex
pressly guarantee to the States all the bene
fits which may arise from the sales. The
mode by which this is to be effected addres
ses itself to the discretion of Congress as the
trustee lor the btates, and its exercise, after
the most beneficial manner, is restrained by
nothing in the trrant or inthe Constitution
so loni as congress shall consult that equali
ty in tiie distribution which the compacts re
quire. Ia the present condition of some of
the States the question of distribution may
be regarded as substantially a question be
tween direct and indirect "taxation. If the
distribution be not made in some form or oth
er, the necessity will daily become mora
urgent with the debtor-States for a resort to
an oppressive system of direct taxation, or
their credit, an I necessarily their power and
influence will be greatly diminished. The
payment of taxes, often the most inconven
ient and oppressive mode, will bo exacted in
place of contributions for the most part vol
untarily made, and therefore comparatively
unoppressive. The States are emphatically
the constituents of this Government, and we
should be entirely regardless of the subjects
held in view by them, in the creation of this
covernment, if we could be indifferent to
their good. The happy effects of such a
measure upon all the States, would immedi
ately be manifested. With the debtor States
it would effect the relief, to a great extent,
of the citizens from a heavy burthen of di
rect taxation, which presses with severity
on tho laboring classes, and eminently assist
in restoring the general prosperity. An im
mediate advance would take place in the
price of the State securities, and tbe altitude
of the States would become once more, as
it should ever be, lofty and erect. With
States laboring under no extreme pressure
from debt, the fund which they would derive
from this source would enable them to im
prove their condii ion in an eminent degree.
So fir as this government is concerned, ap
propriations to domestic objects apuroachin?
in amount the revenue derived from the land
sa'es might be abandoned, ti ns a system of
unequal and therefore x unjust legislation
would be submitted by one dispensing equali
ty to all the members of this confederacy.
Whether such distributio i should be made
directly to the States in the proceeds of the.
sales, or in the form of profits by virtue of
any fiscal agency having those proceeds as its
basis, should such a measure be contemplated
by Consrress, would well deserve its considera
tion. Nor would such disposition of the pro
ceeds of the sales, in any manner, prevent
Congress from time to time from passing all
necessary pre-emption laws for the benefit
of the actual settlers or from making any
new arrangement as to the price of the pub
lic lands which might in future be esteemed.
desirable.
I beg leave particu'arly to call your atten
tion to the accompanying report from, the
Secretary of War. Besides th present
.
