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abuse titan hie constitutional agency m theappoint
uiont and control of tbe few publie officer* required by tbe proposed plan I Will the public money, when in their bands, be nece8-.asily exposed to any impropar interference on the part ot the Kxecutive ? May it not be hoped that ? prudent fear of public jualouey and disapprobation in a matter so peculiarly exposed to them, will de ter him frum any such interference, even if higher mo tives be found inoperative 7 May not congress ao re gulate, by law, tbe duty of those officers, and subject it to such supervision and publicity, as to prevent the possibility of any serious abuse on the part of the Executive 1 and is there equal room for aueh super vision and publicity in a connection with banks, act ing under the shield of corporate immunities, and con ducted by | ersoiis i responsible to the government an l the people 7 It i* believed that a considerate and candid investigation of these questions will result in th?' conviction, that the proposed plan is far less lia ble to objection, on the score ot Executive patronsge and control, than any bank agency that has been, or can be, devised# W;th thes j views, I leave to congress the measures < e?sary to regulate, in the present emergency, the safe keeping and transfer of the public moneys. In the performance of constitutional duty, 1 hiive stated 10 them, without reserve, tbe re.- ult of my own reflec tions. The subject is of great importance; and one on which w;i can scarcely expect to be as united in sentiment as we are in interest. It deserves a full and free discussion, and cannot fail to be benefitted by i diepass unite comparison of opinions. Well a wtiio myself of the duty of reciprocal concession a inong the co-ordinate branches of the government, I can promise a reasonable spirit of co-operation, so far i - it can be indulged in without the surrender of coasututien J objections, which 1 believe to be well founded. Any system that may be adopted should be suWj.cted to ilif fullest le^al provision, so as to leave notiiing to theKx cn'ive but what is necessary to the discha.-K-' ?>f tht; duties impost d on liiin; ana what tivtr plan iiy be uliimately established, my own part s-hall be so discharged iisto give to it a fair trial, and the best prospect of success. Tlte character of the fun is to be received and dis bu; 'd in the transaction of the government, likewise demands your most careful consideration. There can bi no doabi that those who framed and adopted tbe Constitution, having in immediate view the depreciated currency of ihe confederacy? of which five hundred dollars in paper were, at times, anly eqaal to one dollar in coin ? intended to prevent the recurrence o similar evil?, :-o far at least as related to the transactions of the new government. They gave the congress express powers to coin mon-\y and to regulate the value thereof, aad of foreign coin; they refused to gtrp it powcrto establish corporations? the agents, then, as now, chiefly employed to create a piper currency; ihiy prohibited tbe States from linking any thing but ?old and s;lvvralegal tender in payment of debit-; and the first congress directed, by positive law, ihat tlfe revenue should be received in nothing but gold and silver. Public exigency at the outset of the Government, without direct legislative authority, led to the use of hanks as fiscal aids to he Treasury. In admitted de viation from the law, nt tlte same period, and under the same exigency, the Secretary of the Tieasury re ceived their notes in payment of duties. The sole ground on which the practice, thus commenced, was then; or has since, baen justified, is the certain, imme diate, and convenient exchange of such notes for spe cie. The G ivernment did indeed receive the incon vertible notes of State banks during the difficulties of war; and the community submitted without a mur mur to the unequal taxation and multiplied evils of which such a coursc was productive. With the war, this indulgence ceased, and the banks were obliged again to redeem their notes in gold and silver. The Treasury, in accordance with previous practice, con tinued to dispense wiih the currency required by the act of 1789, pnd took the notes of banks in full confi dence of their b ing paid in specie on demand; and Congress, io guard against the slightest violation wf tins principle, have declared, by law, that if notes are part in tbe transactions of the Government, it must be under such cirannstancc* as to enable the holder to convert them into specie without depreciation or cielav. Of my own duties under tin* existing laws, when thi banks suspended specie payments, I could not doubt. Directions were immediately given to (ire vat the reception into tne 'I reasury of any thing but gold and silver or its equivalent; and every practi cable arrangement was inade to preserve the public faith, by similar or equivalent payments to the pub lic creditors. The revenue from lands had been for HOtne time substantially so collected, under the order issued by the directions of ray predecessor. The ef fects of that order had been so salutary, and its fore cast in regard to the increas Bg insecurity ef bank pa per had become so apparent, that even before the ca taitrop'ic, I had resolved not to interfere with its ope ration. Congress is now to decide whether the reve nue shall continue to be so collected or not. | The receipts into the Treasury, of bank, notes, not' rwdeemud in spccic oil demand, will not, I presume, be aaHCti ned. it would deatroy, without the .excuse of war or public distress, that t quality of imports, and identity of commercial regulation, which lie at the foundation of our confederacy, and would ofTar to each slate a direct temptation to increase its for. ign trade, by depreciating the currency received for du tie* in its ports. Such a proceeding would also, in a great degree, frustrate the policy, so highly cherished, of infusing into our circulation a larger proportion of (he precious metals; a p >licy, the wisdom of which none can doubt, though there may be different opin ions aMo ttic extent to which it should bo carried.-? Its results have been nlrmdy too auspicious, and its m?ace>s is too closely interwoven with the future prosperity of the country, to permit us for a moment 10 contemplate its abandonment We have seen, un der its influence, our specie augmented beyond eigh.y million?; our coinage increased ho as to make that at ;jold amount, between August, 1834, and Decern txr, 1816, to ten millions of dollars; exceeding the whole coinage at the mini drrmg the thirty one pre vu ins years. The prmpi ct of iurther improvement continued without abatement, until the moment of the suspension of specie piynaenta. This policv has now indeed been suddenly check ed, but is still !<v from being overthrown. Amidst all conflicting th tones, one position is undenisble ; the precious metale will in variably disappear when there ceases to be a necessity for their use as a circu lating medium. It was in st ict accordance with this truth, that whi'st, in the month of Mav last, they were every where seen, and were current for all ordi nary purpose's they dissppea ed from circulation the moment the payment of spicie was refused by the hanks, and the community tacitly agreed to disnense with its employment. Their place was supplied by a currency exclusively of paper, and, in many cases, of the worst description. Already sre the bank notes now in circulation greatly depreciated, and they fluc tuate in value between one plsce and another; thus duninuhini ami making uncertain the worth of pro perty and tin price of labor, and failing to subserve, except at a hea v y loss, the purposes of business. With ? aeh succeeding day the metallic currency decreases ; by some it is hoarded in the natural fear, that, once parted with, it cannot be replaced while byotnersit is diverted from its more legitimate uses, for the sake of gain. Should ('ongtesn sanct on this condition of things, by making irredeemable paper money receiva ble in payment ef public dues, a temporary check to a wise and salutary policy will, in all probability, be converted into it* abso'ute d ?'ruction. It is true that bank notes actually convertible into wpwie, may be received in payment of the revenue, without being liable to ail theae objections, and that aiich a coarse may, to some extent, promote individual convenience; an object a I ways to be considered where it lioes not conflict w ith the principles of oar Govern ment, or the general welfare of the c luntry. If such notes onlr were received, and always under circum atancna allowing their early presents lion for payment and if, a( short and flxed periods, they were converted into specie, to he kept by the oflcera of the Treasary. same of the most serious obstacles to their reception would perhaps bo removed. To remin the notes in the Treasury would be to renew, under another form, the loans of psbbe money to the haUn *, and the evils ? consequent thereon. It is, however, a mistaken impression, thst any la< ge amount ef sp. cie is required for public payments. t)f the seventy or eighty millions now estimated tU be ui the country, ten millions would be abundantly suf ?rnmt for that purff iae, piovidid an aoeumulation of a large mnosnt of revenue, beyond the necessary winti of the Government, lw? hereafter prevented. If to ?he?e ro-iHi lorationt be added the faeiiitiea which will Mr e from enabling the Treasury to satisfy the public Credit ?rs, br its draffs or notes received in pay *? OI #f th<> public due*, it may lie safely assumed that no motive of ? onvenience to the cihsen requires the reception of bank paper. To say that the wfuaal of mpx money | vernnent, introduce* an unju* (fiacltaunation the caneacy received by i?, ant that used by nala in their ordinary affair*, m my Jud*"?"t'nn view it in a very erroneous light- The consti prohibits the Slates frew making any thing bu g and silver a tender in payment of debts, and J cures lo every citizen a right to drmai " ?ov the legal currency. To providu by law ibat tb ?o eminent will only receiveits dues in gold ' is nut to confer on it any peculiar pn1 * . ly to place it on an equality with the : c ?_ - ^ion serving to it a right secured to him by ? It is doubtless for this reason that the ip P ^ f been sanctioned by successive laws, lrom the time 01 the first Congress under the constitution d?*'n last Such precedents, never objected to, ami pratee ding from such sources, afford a decisive answer to the imputation of inequality or injustice. But in fact, the measure is oue of restriction, not favor. To forbid the public agent to receive in pay ment any other than a certain kind of money, is to refuse him a discretion possessed by every citizen. It may be left to those who have the management ot their own transactions, to make their own terms; but no such discretion should be given to him who acts merely as an agent ot the people ? who is to collect what the law requires, and to pay the appropriations it makes. When bank notes are redeemed on demand there is then no discrimination in reality, for the indi vidual who receives then may, at his option, substitute the specie for them. He takes them from convenience or choice. Whenr they are not ao redeemed, it will scarcely be contended that their receipt and payment, bv a public officer, should be permitted, though none deny that right to an individual ; if it were, the would be mo t injurious to the public, since their oiti cer could nnke none of those arrangements" to meet or guard against the depreciation which an individual is at liberty to do. Nor can inconvenience to the community be alleged as an objection to such a regu lation. Its object and motive are their convenience and welfare. , . , If, at a mom Alt of simultaneous and unexpected suspension by the banks, it adds something to the many embarrassments of thai proceeding, yet tneee arc far <ave. balancad by its direct tendency to produce a wider circulation of gold and silver, to increase ttie safety of bank ;-aper, to improve the general curren cy, aiid thus to prevent altogether such occurrences, and the other and far greater evils that attend them. It may, indeed, be questioned, whether it is not tor the interest of the banks themselves that the Govern ment 8honld not receive their paper. Th y would bf' conducted with more caution, and on sounder princi ples. By using specie only in its transactions, the Government would create a demand for it, which would, to a great extent, prevent its exportation, and, by keeping it in circulation, maintain a btoader and safer basis for the paper currency. That the banks would thus be rendered more sound, and the commu nity more safe, cannot admit of a doubt. The foregoing views, it s< ems to me. do but fairly carry ont the provisions of the Federal Constitution in relation to the currency, as far a* relates to the public revenue. At the time that instrument was framed, there were but three ot four banks in the U. Stattf-s? ? and had the extension of the banking system, and the evils growing out of it, been foreseen, they would probably have been specially guarded against. The same policy which led to the prohibition of bills ol credit by the States would, dou'ntlesa, in that event, have also interdicted their issues as a currency in any other form. The constitution, however, contains no such prohibition ; and since the States have exercised for nearly half a century, the power to regulate the business of banking, it is not to be expected that it will be abandoned. The whole matter is now under discission before the proper tribunal? the people of the States. Never before has the public mind been so thoroughly awakened to a proper sense of its im portance; n-.ver has the subject in all its bearings, been submitted to so searching an inq iiry. It would be riitiusting the intelligence and virtue of the pio | pleto doubt the speedy and efficient adoption of such measures of reform as the public good demands. All that can rightfully be done by the Ftderal Govern ment 10 promote the accomplishment of that import ant object, will, without doubt, be performed. In the mean time, it is our duty to provide all the remedies against a depreciated paper currency which the Constitution cnn*t lea t ? to afford. The Treasury Department, on several former occasions, has sug gested the propriety and importance of a uniform law concerning bankruptcies of corporations and other bankers. Through the instrumentality of such a law a salutary check may doubtless be imposed on the is sues of paper money, and aa effectual rexiedy given to the citizen in a way at once equal in all parts of the Union, and fully authorised by the Constitution. The indulgence granted by Executive authority in the payment of bonds for duties, has been already mentioned. Seeing that the immediate enforcement of these obligations would subject a large and highly respectable portion of our citizens to great sacrifices, and believing that a temporary postponement could be made without detriment to other interests, and with increased certainty of ultimate payment, I did not he sitate to comply with the request that was made of me- The terms allowed are to the full extent, as lib ? rat as any that are to be found in the practice of the Executive Department. It remans for Congress to decide whether a further postponement may net with propriety be allowed, and if so, their legislation upon , the subject is respectfully invited. Th? repert of the Sesretary of theTreasuty will ex hibit the condition of these debt* ; the extent and ef fect of the present indulgence; the pn.bible result of its further extension on the s ate of tlieTieasury, and every other fact necessary to a full consideration of ihe subject. Similar inf irmationts communicated in regard to such depositories of the public moneys as are indebted to the Government, in order that Con gp-ss may also adopt the proper mea.-ures in regard to them. The receipts and expenditures for the fir?t half of the year, and an estimate of those for the residue, will be laid before you by the Secretary of the TYea ?ury. In his report of I) ?camber last, it was estima- ; ted that the current receipts would tall short of the j expenditures by about three millions of dollars. It will be seen that the difference will be much greater. This is to be attributed not only to the occurrence ot greater pecuniary embarrassments in the business of the country than those which were then predicted, and, comeq-iently, a greater diminution in the reven ue, but also to the fact that the appropriations ex c>#ded, by nearly six millions, the amount which was asked for in the estimate then submitted. The sum necessary for the service of the year beyond the pro bable receipts, and the am >unt which it was intended should b? reserved in theTieasury at the commence ment of the year, will be about six millions. If the whole of the reserved balance be no', at once npplu d to (he current expenditures, but four millions be still kept in the Treasury, as seems most expedient for the uses of tks mint, and to meet contingencies, the sum needed will be ten millions. In making this estimate^ the receipts are calculated on th?s supposition of some further extension of the indulgence granted in the payment of bonds for du ties, which will affect the amount of the revenue for the present year to the extent of two and a half mil lions. It is not proposed to procure the required amount by loans or increased taxation. Tin;? are now in the Treasury nine million tfiree hundred and sixtv sevsn thousand two hundred and fourteen dollars, di rected by the art of the 23d of June 1896 to be depo sited with the States in Oc'ober next. This sum, if so deposited, will be subject, undef tha law, to be re called, if needed, to defray existing appropriations? and as it is now evident that the whole, or the princi pal part of it, will be wanted for that purpose, it ap Bars most proper that the deposite should be witn fd. UntM the amount can be collected from the banks, Treasury notes may be temporarily issued, to be gradually redeemed as it is received. I am awara that thia course may be productive of inconvenience to many of the States. Relying upon the acts or Congress which held out to them the ?trsng probability, if not the certainty, of receiving this instalment, they havein some instances adopted measures with which its retention may serioesly in terfere. That ssch a condition of things should have occuned is much to be regretted.' It is not the least a mong the unfortunate results of the disasters of the times ; and it i* far Congress to devise a fit remedy, if there be one. The money being indispensable to the wants of the treasury, it is difficult to conceive upon what principle of justice or expediency its application to that object can he a void To recal any por- | lions of the sums already deported with the States, would be more inconvenient and lees efficient. To burden the country with inre^nsed taxation when there is in fart a large surplus revenue, wnuld be un just and unwise; t? raise moneys by loans under sorb circumstances, and this to commence a new nation al debt w ootid scarcely be sanctioned bj the Aaaeri . Mo poked will beade*y* t# all ourft^ol ofMratioiMs (hiring (he remainder of the fear. SMW ube adopted, the Treasury, aided br ihe ampW re sources of the country, will be able to discharge, punctually, every pecuniary obligation. For tne tu ture, all thai is needed will bo that caution and lor balance in appropriations which the diminution of the revenue requires, and which the complete accom plishment or great forwardness of many expensive national undertakings renders equally consistent witn prudence and patriotic liberality. The preceding suggestions and recommendations are submitted, in the belief 'hit their adoption by con gress will enable the Fxecut ve Department to c?1*" duct our fiscal concerns miU success, so far as tnetf management has been committed to it. Wmlst tne objects and the means proposed to attain them are within the constitutional powera and appropriate du ties, they will at the same time, it is hoped, by their necessary operation, att'ord essential aid in the trans action of individual concerns, and thus yield relief to the people at large in a form adapted to the nature of our government. Those who look to the action of this government for specific aid to the citizen, to re lieve embairassments arising from losses by revul sions in commerce and credit, lose sight of tne ends for which it was created, and the powers with which it is clothed. It wss established to give security to us all, in our lawful and honorable pursuits, under the lasting safeguard of republican institutions. It was not intended to confer special favors on in dividuals, or on any classes of them; to create sys tems of agriculture, manufactureres.or trade; or to en gage in them, either separately or in connection with individual citizens or organized associations. It 1 ? opera tionn were to be directed for the benefit of any one class, equivalent favors must, in justice, be ex tended to the rest; and the attempt to bestow such fa vors with an tr'qual hand, or even to select those who should most deserve them, would never be success ful. All communities are apt to look to Government for too much. Even in our own country, where its powers nnd duties are so strictly limited, we are prone to do so, especially at period* ot tuddtn embar lassments and distress. But this o;?"ht not to be. The framers of our ex cellent Cons trillion, and the people who approved it with calm and sagacious deliberation, acted a the time on a sounder principle. They wisely judged that the less Government interferes with private pursuits, the better for the general prosperity. It is not its le gitimate object to make men rich, or to repair, by di rect grants of money or legislation in favor of particu lar pursuits, losses not incurred in the public service. This would be substantially to use the property of some for the benefit of oihers. But its real duty? that duty, the performance of which makes a good Government the most precious of human blessings is to enact and enforce a system of general Jaws com mensurate with, but not exceeding, the objects of us establishment; and to leave every citizen and every interest to reap, under its benign protection, tlu? re wards of virtue, industry and prudence. I cannot doubt that or. this. as on all similar occasions, the Federal Government will find its agency most con ducive to the security and happiness of the people, when limited to the exercise of its conceded powers. In never assuming, even for a well meant object, such powers a* were not designed to be conferred upon it, we shall in reality do most for the general welfare. To avoid every unnecessary interference with the pursuit of the citizen will result in more benefit than to adopt meas ures which could only assist limited interests, and are eagerly but perhaps naturally, sought for, under the paessure of temporary circumstances. If, therefore, 1 refrain from suggesting to Congress any specific plan lor regulating the exchanges of the country ; relieving mer cantile embarrassments ; or interfering with the ordina ry eperations of foreign or domestic commerce; it Is from a conviction that such measures are not within die constitutional province of the General Government ; and that their adoption would not promote the real and per manent welfare of those they might be designed to aid The difficulties and distresses of the times, though unquestionably great, are limited in their extent^aml cannot he regarded as affecting the permanent prosperity of the nation. Arising, in a degree, from die transactions of foreign and domestic commerce, it is upon them that thev have chiefly fallen. The great agricultural interest has*, in stiany parts of the country suffered cmnparative I v little and, as Providence intended to display the mu nificence of Us goodness at the moment ot our greatest need, and in direct contrast to the evils occasioned V>y the waywardness of man, we Stave b^en blessed throughout our extender territory with a season of general health and of unconimod fruitfnlness. The proceeds of our irreat staples will soon furnish the means of liquidating debts at home aftd abroad ; and contribute equally to the revival of commercial activity, and the restoration of commercial credit. The banks, established avow edlv for its supi>ort. deriving their profit-, from it, and restinc under obligations to it which cannot be over looked. will feel at once the necessity and jnstice of uniting their energies with those of tne mercantile in terest. The suspension of specie payments, at such a time and under such rircumstances as we have lately witnessed, could not he other than a temporary meas ure and we cat. scarcely err in believing that the pe riod must soon arrive when all that are solvent will redeem their issues in gold and silver. Dealings abroad naturally depend on resources aod prosperity at home. If the debt of our merchants has accumulated, or their credit ii impaired, diese are fluctuations always incident t > extensive or extravsgantmereanule transactions. But the ultimate security of such ?bligations does not admit of question. Thev are guaranteedby die resources of a country, the fruits of whose industnr afford abundant I means of ample liquidation, and by the evident interest of every merchant 10 sustain a credit, hitherto high, I bv proinptlv applying these means for its preservation. ' * I deeply* regret that events have occurred, which require uie to ask your consideration of such serious topics. I could have wished that, in making my first ' communication to the assernbbd representatives of my c. 'an try, I had nothing to dwell upon but thehis ' tury of her unalloyed prosperity. S^nce it is other wire, we eaa only feel more detply the responsibility of the respective trusts that have been confided to us, and under the preasure of difficulties, nnite in invoking I the guidance of the Supreme Ruler of nations, and m laboring with xealoos resolution to overcome the dim I calties by which we are env.roned. It is, under such circumstances, a high gratification to know, by long experience, that we act for a oeople i to whom the truth, however unpromising, can always be spoken with safety; for the trial of whose patriot ism 110 emergency is tao severe, and we are sure never to desert a public functionary honestly labor l ing for the public good. It aeemsjust that thev should leceive. without delay, any aid in their embarrass ments which your deliberations can afford. Coming directly from the midst of them, and knowing the 1 course of events in every section of our country, from vou may best be learned as well the extent and na ture of these embarrassments, as the most desirable u'm a w art 'ho w eoer , that it is hot proper to?i?tain you, at present, longer tnsn may be demanded by the special objects for which you are c nvsned. To them therefore, I have confined my common icafioa, and, be I Iwving it will not be your own wish to extend your deliberations beyond them, I reserve till the usual pe riod of your annua; meeting that general mjormatioa on the state of the Union whieh the Constitution re | quires me to give. LKKHi. , Washington, 4th September, 1937. Paintimq or Dow J van ako Haidbk.? A mlicn loiis notice of this beautiful pa nting was published jresteulay. It was inserted without our knowledge. The painting has many mertts? particularly the fi gure of Lanibro, which we shall no'ice soon. The following is the passage from Byrou's Don Juan fr?tn which it is tak -n I p Juas 'proiif tr> H iide?- ? hitter *hnek, And csiivtht r , and from off the * all Snst- b<'d down In* MOT*, in hot hsate lo wreak V('?|ntfon him win *> ,i? the cauae of all Then tamhrn, who till now forbnre to tpeak. f?mlled K'orafull jr, and ?aW, "Withia My eaU A tfioasand ?cireetar* await the words Put Hp. young man, put up jour <?llly rtrord." And Hside- rlun* aroon-J him ; Ju m 't i? ?Tis Lambro? 'tu tnv faib?r! kneel with m?- j lie wiftforglj* ua? ye*? ft muat l>e ? yr+. Oh' desr? t father. In thUarony Or plewnre ami nf pain?even whd? I kuw * Thy garnu nt'* hem with transport, can it lie That doubt ohould minrle w ith niv filial i??y ' Deal withm? M thou w ilt, htit ?p?re thi* boy Hirh and intcrutuble the old man ?h md, , Cslm In hi* ?oiee and calm within hia eye No* alwa v? ivf* with him of calmest mood i He looked upon her, but |rs?e no reply t Tben turned ? oJaan. in wl>o?erheek the binod Oft came and w-ent, a* th<-re f^nWed M die t fn *rmi, at tei?t, he ?tood, in art do ?prlng ?ht the ftrM ft?e whom Lainbro"* call mijfht fcrlws - ft IVUrasij'd new nnvel " Venetia" ia cApital reading, m i^ite of the pntti of the critics. morning herald. ? ? ypift , it_ _ ^ W?BIBIOAT, HEPtBNBijRl, f?3f. Tlw President's MciiMgt-ThT Ucofpcoilrl nmphant? Proposed (tcparallwi of Bank and State ?Determined hostility to ? Wa tlonal Bank? Gold and Ulver Currency re commended. At a few minutes after eleven o'clock last night, we received, by Government Express, President V*b Buken's first message to Congress, in the in credible short period of eleven hours and forty min utes from Washington. Amos Kendall has thus beat all his predecessors. Mr. Polk elected Speaker by a majority of thirteen on the first ballot. The vot<is for Speaker on the first day of the first session of the last Congress stood as follows: For Mr. Pock, 132;. for Mr. Bell, 84; scattering, 9. Mr. Polk thus then receiving 16 votes more, and Mr. Bell 19 votes less, than on yesterday? the number of mem bers present being very nearly the same. The President recommends, 1st, a separation of the government from all banking institutions? 2d, an extension of the suspended bonds? 3d, the repeal of the distribuiion law, and recall of the fourth instal ment? 4th, the issue of ten millions of Treasury notes? 6th, the enactment of a bankrupt law? 7th the leaving the commerce and exchanges of the country to take care of themselves, die. dtc. It will be thus seen that the account of the mes sage, given by us last Friday, was exact to the letter. However much we differ in opinion with Mr. Van Buren, we must admit that his messege is the most ingentus, clear, able, and cunningly devised document that ever came from his pen. It is locnfoco through out. His opposition to a National bank, and to the agency of Congress in the equalization of exchanges ramains unchanged. His reasoning on many topics are certainly plausi ble, and, singularly enough, coincident with many of the opinions we have expressed in our money re ports. The first effect of this Message will be to create a great fury in the minds of the Whigs and the Tall madge party. A general andextraotdinary excitement will next prevail throughout the country. With the exception of additional time to those who o*e the government on suspended bonds, the pre sent embarrassed condition of the mercantile com munity is thrown entirely on its own resources. This will cause ? new crisis? a further depression of stocks ? more failures- and continued conflict among the banks. We learn also that the Secretary of the Treasury has made, or will make, arrangements with certain of the deposit e banks for an immediate resumption ?f specie payments. Thisis intended as a coup de grace to the Philadelphia U. S. Bank. On the whole, Mr. Van Buren opens the campaign wiih great vigor and force. We did not think there teas to much real stuff in the little cabbage- dealing rascal of Kinderhook , as his Message indicates. His measures are proposed ? and his position taken, with great tact and skill. His artful appeal to the agricul tural interest, while he deniesiCongress the constitu tional power to aid the mercantile, is calculated to conciliate the former but to exasperate the latter. Par ties will now be divided into two distinct camps there ia no middle ground? it is locofoco and anti-lo cofoco. Each day's proceedings in Congress will be fraught with the deepest interest.* We are on the fence, high and dry. Let all men of tense take the same position. We begin a new game from this day. Twenty -Fifth Hculon. Monday, Sept. 4th. ? ' This being the day appointed by the President tn his proclamation of May laat, the Senators and Representative? inducted to the twanty fifth Congress, assembled in their respective cham bers in the capitel. The great interest attending the opening of a session, and the expected election of I Speaker drew great crowds to all the ga! lanes. At an earlv hour the members began to pour in, and long before the usual time of organization, both chamberspreeented a larger assemblage of members than I erer recollect of having known at any previous session. At 12 o'clock Mr. Franklin, the clerk of the House during the last Congress, assumed his place, and beg ged tne House to come to order. He then said the re presentatives of the people were now assembled in compliance with the summons of the President, made by proclamation in May lasL The clerk read the proclamation, amid respectful silence, and then proceeded to call over by states the names of the members. The name of Mr. CalebCueh ing, of Mass . being called, that gentleman rose and made a few remarks expressive of his disapproval of I the form and custom of the Hduso, according to which the House was organized by the clerk. Unprotested against it as improper and inexpedient. He thought the attention of the House ought to be directed to the subject, and a proper remedy applied at rtie proper lime. He, however, would submit no mo tion at present. The clerk then proceeded with the call ; but when he arrived at the State of Mississippi. Mr. Merrer of | Virginia, rose and hrovght up a question as to the right of Messrs. Gholson and Clairborne, of Miseia s ppi, to take their seats, and join in the deliberation* of the House. He called upon Mr. Gholson to say whether the election had been conducted according to the constitution of the State of Mississippi and the United States. Mr. Oholson replied that the Governor had iseued hi* proclamation, aecording to the laws of the state and of the Union. When the House was properly organized, he would he ready to meet the question raised by Mr. Mercer? but for the present, he would be silent. Mr. Mercer, after a few remarks, offered a resolution that sufficient evidence had not been presented to the House to satisfy it that Messrs. Ghobon and Claiborne were entitled to their seats. Mr. Gholson eppesed this resolution with great ve hemence; and after some remarks from Messrs. Mer cer and Bynum, the Utter moved to lav ihe reaolu tion on the table, which was carried by a vote of | 131 to 5. 1 Mr. KhettofS C. then moved that Mr. Williams of IV. C. (the father of the House) be requested to take the chair, and preside until a speaker should be elected. Thia question is now undergoing a debate which prom ses to beof long continuance. There may be no election of a speaker today. The Senate was organized by the Vice President Jehneon, who took tne chair at 12 o'clock. No bu siness of importance was done. They eleeled Mr. Haight sergeant at-arms in the place of Mr. Shackford, deceased ; and Mr. Kdward Wyer to the office of door-keeper in the piece of Mr. Haight : and after appointing a committee to wait on the President, th.y adjourned The discussion turned chiefly on the manner in which the House should be organized, though the Mississippi e'ection was occasionally adverted to. ? In the course of the debate it proposed to elect a Chairman in place of the ('Jerk, to promde until a Speaker ahoula be chosen, but this motion, as well as the original motion waa l?W on ?n* ttble by a large msioity. ? The calling of the roll was then completed when it appeared that 224 members had answered to their names. , The House then proceeded, on motion of Mr. Pe triken, to the election of a Speaker. Messrs f lamer, McKennan, od Jones, of Virginia, were appointed tellers; ???<*> having counted the ballots, reported the result as follow* s Total number of votes - - 224 Neceeeary to a choice . - 113 For James K. Polk - 116 John Bell 101 Scattering .... 5 The residue of the members were next sworn. The House then proceeded to hallot for a Clerk, whon Waller ? Franklin received 146 votes. Samuel Shock, of Pa., 4fl, and l!? votea were cast for other peraons. 3to Weker ?* Franklin wm JMared duly chosen The Imm titan, by reaokitiM, ^elected ? ?orsey SugMBMi-Armi, tndOtertOi Cmrr Door keeper to the House. A- motion wm then made to adopt for* he govern ment of the House tke Rules and Orderarf the last Congress ; to- which Mr. Adams moved *n amend ment, which gave rise to debate. Without coming to a vote upon the subject, the House adjourned. In the SsNJwra, the Vice President took thsohur. ? More than forty members were present Contrary to expectation, the Senate elected yester day two of its officers, the Sergaant-at-arms, and Doorkeeper. To the first office Stephen Haig.it was chosen, and to the second Edward Wyer. The Secretary of the Senate will not be ohosen until next Monday, unless, in the mean time, the rule in regard to that biennial election be ehangad? or sus pended, by general consent, aein the case of yester days eleetioa. So James K. Polk was declared to have been duly elected Speaker. He was conducted to the Chair by Messrs. Laarler and Owens, when he made a brief address of thanks, and was then sworn in by Mr. Lewis Williams, the senior member of the HouBe. Latb fbsm Jamaica ?The packet ship Orbit, cap. tain Meachs from Kingston, Jamaica, brings us files of the Despatch, and a letter from our correspondent, dated the lSihult. Speaking of the prospeots of the Island, the Des patch says it will be neeessary that some salutary laws and regulations be at or.ce adopted, and baiug adopted, strictly enforced, to .prevent the land teem ing with unfortunate ereatures, who will now be thrown on the b( unty of the affluent and charitable in their age ; also, in regard to the apprentices, with their vague notions of liberty and true blessings, of which it fears many of them wiU scarcely be able to appreciate. Of its present state, U says t. "At this time men are sent forth to rule over us, who do so with crxyel injustice towards the planter, and then turn round and revile, and strive to defame us in the eyes of our fellow subjects in llritain, and keep our island in continual agitation. We have been already unjustly deprived qf $ur rights and our pro - perty. If, however, it is desired, or considered advi sable to shorten the apprenticeship, let the surplus million or two of the Compensation Loan be divid ed, and let us have a farther pretended compensation ? say ?5 sterling for each apprentice, and great as will be the loss, yet we had better put up with it than to be scandalized and abused, witnout the power of defending ourselves, by hypocritical canting fellows, with their false notions, prejudiced opinions, and pre tended philanthropy." The caleadar, this court, exhibits a more than ordi nary list of crime and offences. f Correspondence or the Hmli| Kingston, Jam., Aug. 15, 1837. Sir, ? At this moment there is nothing stirring but what will be found in the Despatch. American produce generally commands, at this time a high price in our market. Ball at Patbbson. ? A splendid ball will be given at the Passaic Hotel, Paterson, on Thursday evening. In the morning, the ladies, arrayed as nymphs and naiads, wander ever the beautiful groves and climb the picturesque crags of the Falls? m the evening they wander through the mazes of the cotilion and waltz, and climb the picturesque criga of the soul, or look over the dizzy precipices of the human heart. O.i ihering nmyhiff Dreadful trade J3r The Southern Express mail bring* dates, New Orleans, Aug. 29, Mobile, August 30, but no new* be yond a report that the pirates which have infested the vicinity o ' Mobile, have put to sea, not liking the proximity of Col. Ho^nn. A PaascNT.? A pretty young lady of 8taten Island haa sent me a present of a feather plucked from the wing of a towering hawk. The speed of this crea ture through the aky lags behind the swift communi tion of thought with thought, heart with heart? ?r soul with soul. Catholic OarnANa.? Since our last we have re ceived the following From Msria Anna, ? - 91 00 " A Isdy, (herself a Catholic Orphan) S 09 Formerly received, - - - - 12 00 ilToo The lady "herself a Catholic orphan" will find that her requeat is complied with. How could it ba other wise? What's in th* wind ?? The "Courier" says it does not join in the clamor againat the emigrants and foreignera. Why notaapport the Mayor 1 What do you mean 1 What's in the wind? SfMNPLABTEBs are increasing. There are now four or five " Associations, ' hailing from Wall street, each one worse thsn another. Yet, cunningly enough, they succeed in forcing upon the people vast quantities of their pnper. We are not sure, but they are right.? If the public are such fools as to take shin plasters at all, they deserve lo be stuffed with them. Cheat them by all means. Cheat all that will be cheated? that's the way to get along in the world. Patino Spccib ? Bbonson vaasre the Manhat tan B\rk.? This case has been delayed time after time. A demurrer haa been entered up, but the court wants more lime to decidc upon it. Next Tuesday we understand it again cornea up. Now it happens that the/laintiTcarea nothing f*r the delay. The amount ?f Manhattan bills far which specie was demanded ia #8000. From the moment that the demand was made, they bear an intereat of 10 per cent. In their preaent condition they form a bettet investment than stocks do. , Any person making a demand for specie, before witnesses, has a right, by the Revised Statutes, to re cover the whole amount, with 10 per cent from the date of the demand. F.rtf holder of bank notea can, therefore, make s secure inveatment at once. Why not do it ? r* The New Orleans papers are aaking what has become af Meunier. Has he landed at Pensncala, Mobile, or where 1 Col. Wtss's Political Dinniits Mr. Wrmtrs. ?We have a full and graphic account af the splendid political dinner given by Col. Webb to the Honorable Daniel Webeter, which we thaU ivake room for in a i/syortwo. Jamea O. King, Charles K ng, and a few choice epirita were present. The affairs of the country were all arranged? the United Statea Bsnk got a new charter? Texas was admitted into the Un ion?Mr. Webster made President- James O. King Secretary of the Treaaury? Charles, Minister to Eng land? and my friend, Col. Webb, appointed to the head of the War Department. * The wines were excellent and the aegars superb. God blaaa our puss ! Jonn Qcincv Adasis on Banning.? We made a aaistake the other day in attributing a stupid brochure on Banking published at Boston, to John Quincy Ad a ma. We learn it was written by the editor of the ** Boston Atla^' now writing long, labored, violent, ridiculous editorials for the Courier and Enquirer. The stnpidity and ignorance of that book in matters of real science and finance, ia certainly on a perfect footing of equality with the columns of the " Courier." All egg? *"tne chicken. tfF The Hobakin Turtle Club hold their last sit ting for the wesson today. Whenatichabndj n* Con gress is in session, it is t.me for (be Tort lei to ad journ.