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" IX. 27 i).-lJJA' LV2) TROUBLED XIGIIT TJIAT IS UPON US, TIIERE IS XO STAR ADOVE TIIE IIORIZOX TO GIVE US A GLEA2I OF LIGI1T, EXCEPTIXG TIIE IXTELLIGEXT, PATRI0T1C WHIG PARTY OF TIIE UXITED STATESr Webster.
YOLUME XII. MIDDLEBURY, VERMONT, TDESDAY lIOBKDfG, MARCII 21, 1848. HUMBER 47. I II. BELL, editob and rRorniETon. JOSEPII II. BAHRETT, Associate Editor. TERMS OF VOIjUME XII. Yillage subscribers, f2,00 it:i ,..i..-i.M -:,),; Kt.iic. - - - $1,50 UUH3UV3HUH.t.-, ......... ..... . -r lf not paid within thc ycar, '' Jlail sulisrniicrs out 01 mc ;?uuc. - -ljidiThluaUar.il Companics who takc at tlic oLice, 54,30. or $1,75 if not paid witliin tlie year. Thosc who takc of Postriders, - - - - S2,00 If not paid at tlic end of tht ycar, - - - S2.2.1 No papcrs disconlinucd until arrcaragcs are paid, c.M-cpt at tlic oplkm of the proprictor. No contract with. or jiaymcnt mailc to Carricrs, cash. kccpins, or otiicrwh-c, allowcd, cxccpt asscntcd to liv tlic proprietor. " All oommunications must bc addrcssed to tlic c.Iitor 1'ost Paii. JUSTl'S COBB, ri:iNTrit, HT WHOM ALL KISDS OF BOOK AM) JOn rEIST 1NO WILL nE ESECUTI.D OS MIOKT XOTICE. MARCII. IIT W. C. linVAXT. T!i stormy Marcli is come at lait, Witli wind and cloud and changing skics ; I ki-ar tlic rashing of thc blast 'l li.it through tlic snowy va'lcy flics. Ali! passing fcw arc tlicy who speak, Wild, stormy month! in prai-c of llicc; Vct, thougli tliy windsarc loud and blcak, Thoa art a wclcomc montli to mc. For tlion to niirtlicrn lands agam. Thc pl.nl and glorions smi "iost bring ; And thou liat juined tlic gcnt'.c train, And wear'st tlic gentlc nanic ofspring. And in tliy rcign ol blast and stoim. .Smilcs mauy a long, hriglit, sumiy tlay, Wlien th changcd uiwU are soft nnd.wann, And iicavcn puts on thc ldue of M.iy. T!: 'n shig alond thc gu-liing rills, And tlic fuli springs. from frost su frcc, Thn lirig'.itiy lcaping down llic hills, Are ju-t set out to mect tlic sca. Tlic yctr's dcpnrting leanry hidcs )f ivintry tonns thc sullcii thrcat ; But in tliy stcnic-t frown nhides, A liiok of kindly proinisc ycf. Tlni lringVt tlic ltopc nf thosc ealm skics, And tliat .ft li:nc f simny hocrs, WIicii t!iu wido hliiout on earth t!uit lics. .Scuiiof a brilitcr w.irld ihan onrs. A CAVITAL U1T. Thc T;n.-!ictrr Dctnorrat rehth-s thc fol'oivin;.' cl'-vcr nticiilotc of Mr. J'dm Van Uarcn: Sliortly ;iff.-rJii!in Van l!ur n f.imon-lirc aml tow ppc-l-:it A"iny. im hi- rcluro f'Xini HvrUiiic', woi!i.in- -d to mcit Dr .f l!o-hct.i. U'cll. ih.i -t.ir." :id wc. '-h:it lliin y..u of I'rini c .l.iuV ir.ii.it cffort !" I "11 tcll v.'in." -.id h, "1 .i civ fori il.ly rcniiink'd of sm Ki-i.K-nt tliat liap .i"eil to mcin Xcw Hamp-ihirc. I ira- ridiii :i'on o:ic dar vcry lci.-urcly hi iry ; and i f.irivin'r on tlic lnv if a vcr -ie.'!j iiill. I :i uitractcl I'.v l'-u l crii-' nro-.'ii! .1 fi.m ln-iotr rid t'li liHi.i:' dov.-n lu!i-i. a !u.iil of hay ovcr iiiincd. and a liir. l:ink.ttip'iu.f a l.y jlr:n in;; aln..iit it. and fmra onc sidc nf t'le ro.id ti tlic n!icr. noiv -izin wifh liorh liand- llic whccl 11! t".ic cart. and all the tinie r-amin:i!i I shoiujnp likr me m.vl. 'Hcro my mmi." ai.l Itop c-ryini; r.n-A t!i::t'- apoo.l 'n.y. I i!l ln-lp 011 1111 ap.iii. witli tln-hay :' -I doit't carc a ilani fur the lr y. b-tl l hJtT s .:..( U r An mmiMnp inridcnt occurreil thc olhcr dav at thc l'i:y ClcrkV oflicc. A -tont Irihman .lin in wiih an cnonn.nn dn;j. and aid to i!r. Mc ( icary. !io wa at lii dck: "M.iv i;n!ca-c ronr honur. I want a Ui'-H-c." J'r. S!c Clcarv" i.nicilv wrotc out thc li' cu.-c. u.d iian.Ud it to ihc man. And ho'V iniuh am 1 topay!" "fwo di.llar." ''IVo ilollars! A fiicid of niinc irr.t onc hcrc on!y a day or two ao. fur lifty ciT.ts."' ft ina-t I .1 :nitakc." replici! ilr. Mc Clcary: "I havo liccn licrc a jrrcat niauy ycar. and ncvcr ibU'd a dn liccn midcr two di.Uars.' 'Dog !" cricd ths Irihinan: "lila5t the do! I ncvcr aT thc haitc bcfore. Iwant to get niarri id." JJost. Atlttfi. Dcar to us arc tlioso wlio love u: tlie swill tnumcnrs wc spend witli theni arc a cumpensa tion fur .1 gre.it ileal of misory : tliey cnlar.:c oar life: but ilcarcr aretlio-e that rcjcct us as unwortliv, for tlicy adtl anotlicr life ; tlicy builil a lieavcn before us ivheroof ive liad 110I Ircaiueil, and thcreby supply lo us ncir pon- i out of thc rccc.s ot thc spint, aml t:r-:c to new and unattciuptcd pcrlbnnaiiccs. R. li'. Emenon. Iiorrowinij TrouUc. One of thc bcst tblnp iu Tuppcr s Proverblal Philosopuy h the fol- lowinjr : " Thou hast sccn many foitowp, trai cl-slain-ed pilprim of tlic -vrorld", bnt tliat wliicli liatli vexed tbcc most. bath becn thc lookinjr for c vil. And tlunij;li calamities havc crossed thcc, and miscry bcen lioaptd upon tliy licad, jct ills that ncvcr liappeaed, liavc chiclly madu thee wrctched." Thc Chicago Daily Tribunc says tliat Da vid Kennison. one of the survivors of tlic fa moas nartv wlio made a dish of tca in Boston Harbor, is'living in that city at the advanccd 01 114 years. ' Wakc up.hcrc, and pay for your Iodping-.f aid the Dcacon, as hc nudgcd a slccpy strangcr Vi-ith iue coninomion oox. 53r Spcaking withont thinking is shooting with- fut takmg aim. It is bcttcr if onc's foot makc a l;p tlian one s tongne. The foantain of truc politcncss is a rrood and gcncrous hcart. It consists less in cxtcrior manncrs than m the spint devclopcd in thc intcr coarte of socicty. A ivcstcrn orator commcnced his haranrnie ith '-The important criis which wcre about to ".uc arnvcn.liavc arrovcn. i The Loco Focos charge the Wliigs with loving -'icxicans. 1 11c l,oco ocos tlierascivcs love Ver" ground that thc 3Icxicans trcad on. Lr.utsrdh Jour. UI ncver jndgc from manners," says lord By ton, ' for I oncc had mr pockct pickcd by the 'iicst ntleman I ever met with." MISCELLAHY. From Grahani'.i Magazine. KITTY COLEMAN. A SKETCH. BY F.VXSY FORESTER. An arrant pieec of mischicf waa tliat Kitty Colcman. with lier dcep, bcwildcrinfreyes, that said all sorts of stranjjc things to your lieart, and vet Iookcd as innocent all thc tiine as thougli conducting tlicmsclvcs with the utmost propricty, and licr wann ripc lips, makingyou tliink at oncc of "the rosc's bedtnat abee would clioose to drcain in." And so wild and unman- agcablo was sbc oli, it wasthockingto roper pcoplc to look at lier! And tlien to Iicar lier, too, why, slic actually latighcd aloud, Kitty Colcman did! I say Kitty, becausc c crj- body callcd lier Kitty but lier Aunt Alarthatshc was an orderly gcntlcwonian, wlio diapproved of laugning, roniping anu nicK-naming, asnc uni of other crimes,i,o shc ahvays said Mi-s Catlia riiic. Slic thought, too, that ilis CatliarincV hair, tho?c long, goldcn locks, likc rays of float ing 'uii'.hine, wandering about hcr shoulders. should be gathercil up into acoinb, and thc little ladv was oncc really so ob!iging as to uiakc tri al of thc. schenie, but at the first bound fIic made aftcr Kovcr, tlic burnUhed cloud broku from its ignoble ljondagc, desccnding in aglit tering shoxvcr, and tliu little tihercomb ncst Icd down in the dccp prass, resigning its of ficc of jailor forcvcr. Oli, Kitty ira a sad romp! It is a lia.nl thing to say bf onc vrc all lovcdsowell; but Aunt AlartJia said it, and thook vt head thc wliilu and sighcd; and thc squirc, Aunt iMartlia's bi-othcr, said it, and hc!d out his amis for his jiet to spring into: and se rious old ladics said it, and said too, what a pity it was that young pcoplc now-a-days had no inore regard for propnety. Evcn Enocli SnOMr, the grcat phronologist, buried his fin gers in lluw dainty locksthat none Imt aphre nologist had a right to touch, and waiting only for a succcssion of pcals of vocal niuiic, whii h intcrrujitcd Iiisscientifie rcscarclics, to tubsidc. said that lier organ of inii tlifulnejs was vcry, very strikingly devclopcd. This, tlien, placcd the matter beyond all c ontroery; and it v:a, hcnci lbrth cxpectcd tl.at Kitty would do what nobody e'.scc-ould do, and say whatnobcdy cfcc had a right to say; and the sin ofall, luJ-.ily for her. wss to be laid 011 a strangc idiosyni-ra-sy, a peeuliar mental, or rather ccrcbral t onfor ination. ovcr whicli ic hail 110 uoutrol: and so Kitty was forgiven, by all but . AVo liada little biory to tcll. I havo heanl tliat Cupid is blind: but of that I do not beliexe a wonl iudccd, I liavc "con- finnntion strong" tliat the maliciou little knavc hasthegift of clairvoyancc, nimingat hearts wrappcd iu thn triiile fo!din"s of sclfishncfs, concuit, and gold. Aj-, ilidn't lie percli hini se'.f. nowin thc eyc, nnd now 011 thc lipof Kit ty Colcnuin, and with niarveiously stcauy aim, imitating a pcrtonage a triflc more iinJcd. 'Cut down all, both great and siuall!" Ulind! 110, 110 hc saw a flii t too v.-ell whcn lie coun tcd out his arrows; and thc langbing jngue n. rcady to burst with nicrrinipnt, as he peepcd into his ctnpty iiuivor, and tlien lookcd aluo.id iiponthe haxoc lie had maile. Eutiicoplc said that there was one w ho had cscapcd hini, a win--O1..0 galhmt, fr wjioin all but Kiiiy Coltmaii hada bright glar.ce. andagcnllc word. As i'ur Kitty. slic cared not a n:ch for Ilany Gay. ;uid 'ouht to annoy him all in hcr jioivcr, pikI ihcgcutlcinan in histurn stalkcd pat hcr with all thc dignity of a great man's gho-t. Eitter, Sittcr cncmics weru Ilnrry Glay and Kittj C'o'einan. One e vcning, just ljecause thc jnt ty ln-lie was prescnt, liarry took it into hit hcad to be asstupidasa b'ock orascliolar, for. no'.witltttalidinghis pruniLingnaine. our younc Lucifer tould be stupid. Kitty Colcman was very angry, as was jiropcr for what right had any onc to be stuiid in lier picsenceV Tlic Iiko nccr was hcard of bcfore. Kitty, in her indignation, said he did not know how to be ciiil; and then shc sigheil, doubtless. at the boori-lincss o!" scliolars in gcncral, and this one in particulanand then shc laughcd so longand inusically, that the lawycr, the schoolmtisier, the four dcrks, the lncrchant, and Lithpur Lithpot, thc dandy, all joiucd in the chenis, thougli, for thc lil'i: of tlicm, tlicy ccuhl Lot hae toiil what thclady laughed at. Ilarrj Gay thrcw up liis hcad with as inuch digtiin as thougli he had known the tuirth was at his cxpensc, cat contemptuous glanccs tflward thc the group of nod-waiters. and thcn, to show hi own supcrior tate, attached hinisclt'to thc vg llot woman in thc room. It was very stiaiigc that Kitty Colcman should hac dircgarded entirely the opinion cf such a distinve gcntlc man, but shcouly lauglicdthe lomlcr whcn shc saw that he was anno eil bv it; indccd, his sc- liou faee secnicd to infusc the verj- spirit, ay. t!ie eoneentrated doublc-tlistillcd essence ol mirth into her: nnd a morc froli'-ksome erea- ture nevcr cxistc.l than she was. till thc irrita- tcd scholar, unable to cndure it any longer. disa)pcarcd in thc cuietest manner posble. Tlien all of a suddeu the sclf-willcd l cl'.e declar- cd that she hatcd partics, and nevcr would go to anotlicr; and niaktng lier auieus in tlic most approved don't-care stylc.insistedon bcinsta- kcn honie at once. Ilarrv Gav was not a native of our villa?:e IIc camc from onc of the castern citics tosjiend a summer tnere; ana unt A'ariua sam 11c was too well-bred to have any paticnec with thc hoydenish manners of her romplng niece. But Kittv insistcd that her manners werc rot hov- denish: and if hcr hcart overllowed, it was no; hcr fault, she could not shut up all the glad fcelings within hcr, thcy would leap back tothe call of their kindred, gushing from othcr bo soms, and toall beautiful tliings of creation. as joyous mtheirmute cloqticnceasshc was. 1C' siiles thc wicked little Kitty Colcman was al wavs angrv- that Aunt Martha should attempt togovcrn ner conuuct oy meiiKings 01 iiarry Gay; she would not be dietatcd to by him, ev cn thougli liis opinions rcccived tlic sanction of her infalliblc aunt. But thc lady made a trifling mist:ike on the subiect mattcr of intor- ference. Ile did not slander her, and always waved tlic tlieme ot her iollics wlien hcr Aunt Martha introduccd it; indecd he nevcr was hcard to speak of thc belle bur onee onee lie swore shc had no soul (thc shameless Jfo- hainmedan!) a rcmark wlnch was only fivc minutcs in reachingits object. But Kitty Colc man, tlionrli vcry indiguant, was not east down by it. Shc called Harry Gav more namcs than hc, scholar as hc wa, could havc thought of ina month, and wound up witli a rcmark no less formidablc than the onc wluchhad cxtited her irc. And Kitty waj right. A pretty judgc of soul hc, to be sure aman that nevcr laughed! how on earth can peoplc wlio go thrcugh thc world cold and still, likc the clods thcytread ujion, pretcnd to knowany thinga bout soul? liarry Gay uscd to;o to Sfmirc Colcman's vcrj- often, and sit all tlic cvcningand talk with the squire and Aunt Jlartha white his grcat black eyc turned slowlyln thc direction Kitty moved; but Kitty would not look at him, not she. AVbat right had a strangcr.and a visitor, too, to make such a vcn- great parade of his diaapprobationf Jt she uid not pleaso lnm, why she meascd othcrs, and that was cnoush, she would not turn ovcr her fingertogainhisgood will. So liarry and Kitty ncvcr talked togcth- cn anu whcn he wcnt awav, tlic ncvcr wcnt till the eouvcrsation fairly dicd out, and the lamps looked as if about to join it,) he bowed to the old pcoplc graccfully .and casily, but to the young lady he found it dillicult to bend at all. Londuct likc tlus prooKcu iviltv uoie- man beyond endurancc; and onc cveninaf- ter thc squire and spinster had lcft hcr alone, she sat down nnd in her spitc, sobbcd away as thoush her little hcart would brcak. JSow it happcncd that thc squire had lent his visitor a book that ecnins, whicli stransc cnongh for such a scholar, hc had forriottcn to taljc with him, but liarry renii'nibcrcJit bcfore it was too latc, anu turned iqion his liccl. lie liad gonc out but a niomcnt bcfore, and thcrc was no usc in rining, so hc stcppcd at once into thc par- lor. 1 oor Jvittv sprang lo Iicr lcct at the m truaion, and crushcd with hcr (incers twotcars that ivcre nist readv to launch tl.emselves 011 the roundcit and ro-icst check in thc world, but shc mi"ht havc done bcttcr than blmd her- self, for her foot touchcd Aunt Martha's faut- euil, and, 111 coiisenucnce, her forehcad the neck of Itoier. It i very awkward to be sur- prised in the luxunous indulccncc ol tcars at anv timc and it isa tril!c moreawkwaril!till to fall down, and then be raiseil bv the last per- son iu the world vou would receivc a lavor from. Kittv felt the awkwardness of her sit u.ttion toomueli to speak; and, of course, liar ry, enemv as he was, could not relcasc hcr un- 111 uc i;new w ueiiicr sne was nuri. Jt was cer tain shc was not faint, for the crimson blood dycd thc tips of her Ihigers, and Ilarrv's face immcdiatcly took thc same hue,probab1y from relleclion. Kittv looked down until a jiolden areoffringc rcsted, lovingly 011 its glowing ncigiiuor, and Jlarry looked down, too, but lus evercstcdon Kitty Coleman's face. 11' soul and lieart arc onc and the same thing, as somc metaphysicians tell us. Ilarry must now havc discovercd the mistakc heonc c made, for thcrc was a strangc commotion beneath the boddice of Kitty Coleman; it roc and fell, a nothing but a bounding, throhbiug, frightcned hcart, in the wildcst tumult of cxeitcd fceling, could make it. And thcn (poor Kitty must havo becn hurt and nceded suppoil) an arm stole ioftIv around her waist, dark locks minglcd with her sunny ones as a warm breath swept over her check and Kitty Colcman hid hcr face not iu her liauds. Ilarry forgot hi'i l.ook again that night and nnvcr thought ofit until the squire put it in his hand tbe next morning; for Ilarrj- visitcd tlic squire vcry carlv the next monung, and had a privatc intcrview; aud tlic good old gen tlcman tappcd him on the shouldcr, and said. "with all my hcart;" and Aunt Jlarlha looked as glad as propriety would lct hcr. As for Kit ty Coleman, shc did not show lier face, not shc for she kncw thcy wcrc talking about hcr, the sobcr old pcoplc and thc meddling Ilarrv Gav. But whcn the arrant mischicf niakcr had acccmplished his object, and was bounding from the door: there camc a great rutling among the rose-bushcs, insomuch that a shower of bright blossoms dcsccndcd from tl.em, and Ilarn- turned a face, brimming oicrwith joy, to thc fraiir.mt lhicket, and hook down anothcr iVagile fhower, iu sceking out thc causc of thc disturb.mcc. Xow, nsill luck would havc it, Kitty Colcman hadhiddcn away fiom her enemy in this vcry thickct; and thcie shc was discovercd, all confnsion, ti cmb linjt and pnntin, and I am afraid poor Kit ty nevcr quite recovercd from thc cficcts of ner tall lortheann 01 liarry Uay seemed veiT ucccssarv to her forcver aftcr. TO TIIE DEMOCItATlC WIIIGS OF THE " UXITED STATES. The umlcrsisncil wcrc appointcd by thc Dcmo- cratic Whig Exccutivc Coimnittcc oHIic Citv of l'hiladclphia, to makc known to the Whigs of thc Unitcd Statcs, that it has hcen finally rcsolvcd that tlic srcat ?ational Convcution for noniina ting thc Whig candidates for Prcsident and Vice Presideut of thc Unitcd Statcs, sli.nl I be held in hi city on the Scvcnth day of Junc next. Jt had not becn forgotton that such was thc dccis ion of the Whir Jlass Convcntion for ratilication. held in Baltimore in 1S44, and calcnlations had hccn mad1 by thc AVhigs of this city on cnjoying thc iromicd honor ; but aware that cvcnts uiight occur whicli. in tlic opinion of somc wonldrcndcr it cxpcdicnt to changc thc ilcicniiination thus cx-f.rcs.-cd. wc. pcakiii'; fur thc Whigs of l'hiladcl pliia, wcrc prcp-ircd to yicld uj, thousli with grcat rcliictancc, llic honor whiih we rcgnrdcd as a ri-ht to what mipht lic dccmcd the requiicments of thc party. It was howcvcr, witli cxtraordinary plcas urc tliat thc 'Whijrs of our city lcarncd that thc !;ratiiication of thcir wishes had bc" dccmcd con- -istcnt with. and indccd promotive of, thc good of thc grcat u ing party ot llic l nitcd btates;and that the Xational Convcntion for sclccting candi dates for the votcs of Whigs, and of all who arc for thc good of thc country, will asscmble. in thc -cason of thc vcar, and iu thc placc, coiisccratcd hy the vcncralilc asscmMage of Whigs. who in 1770 dcclarcd our country an indcpcudcnt nation and fixcdthc princidcs ujion which our party is foundcd, principlcs which it is our duty to asscrt and to sustain. AVhilc such a rcsponsc as this is dnc to thc dis-tingni-hcd whigs composhig thc mcctin-r at Wash ington, bv whom the timc and placc of thc JCa- tional Convcntion of 1848 wcrc lixed, and for which favor thc thonks of the "Whigs of 1'hiladel- phia arc hcrchy rcs.cctfnlly tcndcred to tlicm : it is also propcr to add that the Whigs of 1'hiladel phia will 1 prcparcd to cxtcnd a Tr.rr; tcll. axi) ULAnTV wllcomu to thcir brcthrcn of thc Convi:xtios ron Xomixatiox, as wcll asthoe of the Gi:i:at iUss Coxvlxtios. which will of coorsc be held in this citv on tlic cighth dav of June. thc day following thc sitting of thc JComi mting Convcntion. In thc dichargc of that du ty, in order that the act of wclcomc nmy accnm- nanv tlicwonl. tlic IJemocratic lug i-.xccutivc Committec of thc city of I'hilndclphia will sharc thc honors and happincss with tlic dclcgatcs of ctlicr liodics ot tlicir lngcolaoorers m i li uadel phia city and di?tricts. one and all of whom w ill iind a plcasurc, as thcy wiil discharge adnty in sceking to make the mcmlcrs of riOTit CoxVex tioxs at homc in thc city of Brotherly Love. Jos.ll. Chandler, Jno. I.indsay, E. G. ICromcr, Jas. Bonaghy, .Tos. T. Thomas, "Wm. EHiott, Ja. M. Bccrs, E. E. Smith, HobL JlcCroy, Bol.t. l'atton, Chas. W. Beiulcr, Jno. Thompson, Kolrt P. King, E. C. Jlarklcy, Jno. T. Manll, Jo. S. Lewis, R. E. Nnttle. "Will the Whig papers tliroughont tlie country copy the abovc T7j Tlnnit fpmtrii Tlio n'nnot "Mprrnrv has bcen for several days distir.ctly visible to ltrt wnl-fwl nvn in nvnnTnrr twilinrlit. Tt 1ll.1V llP ...i. u.u.u - ... ......e , , scen any timc from six to seven o elock in thc evening, but it is most conspicuouj from liftecn to tliirty minutcs past six. It will be found al most nxactlv in the west, and onlv a fcw dc- grces abovc the horizon. X. Y. Express. SPEECII OF MR PHELPS, OF VEIMOXT, ON TIIE -VAIl & TIIE PUBLIC FLXAXCES, Ihlimcdin thcStnateoftlte Unitcd Statcs, Jan uary 27i, 1848. TnunSDAY, January 27. Thc Scnatc rcsumed thc consideration of the lill to raisc, for a limitcd timc, an addiiional military forcc. Jlr. l'lIELPS said, it is not my purposc, sir, in addrcssing thc Scnatc at this lime, to go into an inqr.iry as to thc origin of this war as toits mcr iu or dcmcrits nor, sir, to inquirc wherc thc blamc rcts, providcd thcrc hc blamc in its com mcnccmcnt. Thc important tmcstiou nowheforc us is, first, how shall this war bc prosccutcd suc ccssfully whilc it lasts ; and, abovc all, how can it bc tcnninated ? Whcn thesc qucstions arc dis- poscd of and thc country rcstorcd to a statc of pcacc, wc may tncn pcniaps amuscoursclvcs witli thc inquiry, who has bcen in fault ? In Iooking at this qtiestion, Mr. Prcsident, as it now pre scnts it?clf to us, as a practical qucstion, the po sition in which the Scnatc has bcen plcascd to place mc has vcry naturally drawn iny aticntion to thc linancial aspcct of the qucstion, and I bara csteemed it to be niy duty, aftcr having dciotcd sornc little attcntion to tlic sulijcct thougli not indccd so mucli as I should dcsirc to do to lay bcfore Ihc Scnatc thc rcsult of my invcstigations. I am awarc, sir, that there is no auiiisement to bc found in this inqniry; it will hc,pcrhaps, not vcry intcrcsting ; but, sir, it is an inquiry which is not to bc avoidcd. It is a mattcr of busiucss aud a matter of neccssity. Now, sir, if this war is to bc prosccutcd furthcr and suih scctns to bcthc fact as yct a vcry important qucstion ariscs, what cMcct ivill it have on thc linancial and commcrcial intcrcts of the countrj" t IIow are the means to Lc obtaincd for its prosccution ? And how arc thcsc means tobe obtuiiied, consistcntly with the pro'ipcrity of thc country at large ? Sir, in dctcrniining this qucsticn, tlic first inqu'ry will bc, what has bcen il cffcct thus far ? And whcn we have r.sccr taincd that. wc niav ncrhans bc licttcr ahlc to judgc what will bc its clfcct hcrcaftcr. Sir, from tlic liest computation I havc bcen ahle to make, lhoTrcasury has fallcn into arrcars within thc past two ycats, ornearly twoycars whilc this war has already Iasted to an cxtcnt not much, if anylhing, shoi't of sevcntj millions of dollars. Ycs, sir. from the bcst computation which 1 am ab!e to makc, thc rcvcnues of this country havc fallcn short ofits cxpcmlitures for thc past two years to an aniount not niuch, ifany, less than scvcnty millions of dollars. Wcll, sir, I will sub mit to the Senate certain estitnates, which will conclusivcly prove this rcsult, and I shall cndeavj or to show to the Senate, if thcy will givc me thcir attcntion, from data in my posscssion, that this rc.-ult must incitably bc prodiiccd. Sir. in thc first placc, at the coimncnccmcnt of the war, or rather on thc first of July, 1S4C, aftcr thc war had bcen for somc six wccks in cxitcncc, thcrc was thcn cxcIuivoly of thc cxpcmlitures during the short pcriod the war had then lastcd a Iialancc m tlie Ircasury ot upwards of ninc millions of dollars. I iind, from thc scvcral rc- ports of the Sccrctary of thc Trea'-itry, that thc Governmcnt has borrowcd.in Trcasurv noics and stocks, issucd duriug thc tiscal vcar cnding CUth Tnnc. 1S47. ncarlv twcntv-six millions of dollars : and that during tlic currcnt fiscal ycar thcy have oorrowcu. m aililition to this, six millions two hundrcd and cightV-livc thousand dollars. Tlic Sccretary of the Trcasurv tells us that at thc cloc ofthe cnrrcnt fiscal yenr tlicio will hc a dc ficicncy in theTrcasuryofncarly sixtccn millions. I takc thc original report ot thc "Sccrctary, thougli am awarc thcrc has hccn a reccnt corrcction of that rcport. Thcsc sums thc balaucc in thc Treasunr lt July, 184C the amounts borrowcd during thc two succccdiag vcars, and thc defi- cicncy anticipatcd atthe close ofthc currcnt fiscal ycar, as cstimatcil oy tlie bccrctary. will aniount to fifty-six millions ciglit hundrcd and twcnty thousand dollars. But this is not all. At tlfc vcry rommcEcemcnt of this scssion we wcrc in formed by thc Sccrctary that (hcrc was a dcfi cicncy of appropriation for thc currcnt ycarofa little more than tcn millions of dollars. This ad .lition to :!ic previons rcsult gives thc amount of about sixty scvcn millions as the cclicicncy of rcvcnue bclow tlic amount ot our cspcnlliturc for thc last two years. From this, sir, I have dc ditctcd six millions six hundrcd and ciglity-onc thousand dollars, bccatisc it is stiggcstcd upon what cvidcncc I know not cxactly that upon rcvising tlic cstimatcs submittcd to us it was asrcrtaincd that there was an crror of ncarly scvcn millions, thcrc hcing that aniount in thc Trcasurv which is not rcprc'entcd iu thc statc mcntcotnmunicatcd to us. Deducting.thcn, thi sum, which is rcportcd to lc a little, short of scvcn millions, but calling it six millions ciglit hundrcd and chrhry-oiie thousand. thc rcsult is that thcrc is a deliciencv of six'v niillions forihc two years. or nt the rate ofthirty millions a year. But. sir.Iam vcrv far from hcins satisried'with thc calcnlations ofthc Secrctsry. To satisfy my own judgmcnt I will add cight miiIions,bcingth amount to which, as I lielievc, thc Sccrctary ha ovcr-estimatcd the public revcuuc. This givcs us the amount ol sixty-cight niillions as hcing Ihc deficicucy which has alrcadv accrucd. or at thc ratc of thirty-four millions a vcar. For thc com ing ycar cnding Junc, lS43,thc Sccretan-has cs timatcd thc deliciencv at 520,000.000. I havc ob ti.incd this rcsult by'dcducting the cstimatcil dc liciency for the currcnt vcar frojii the Secretary's ctimatcof thc deticicncy on thc 30th Junc, 1849. Wcll, sir, without going furthcr, withont at prcs cnt inquirin into thc accunicy of his cstimatc for the coming yc;ir by taking. thc deficicncy a ctilnatcd by hiinsclf, wc havc for the thrce years cnding Juii? CO, 1S49, thc fum of cighty-cight millions as thc deficicncy of our means beloft our cxpcnditurcs. TliN, 3Ir. Prcsident, is acon cisc statcmcnt of our linancial cxpcricncc thus far, as will nppcar by tlic following stitcmcnts. And ifwe add to this the sum df 50,000.000. whicli I shall cndeavor to show thc Senate is an ovcr-es:imate of ofthe rcvcnue for tlic coming ycar, aml the sum of 57,000,000 for under-c-'ti-matc of cxpcnditure for that ycar, thc deficicncy for thrce vears, cnding Junc GO. 1S49, will bc $104,000,000, or about thirty-iivc millions a ycar. StaUment ofthe crccss of expend'durc ovcr incom' ftr tiroynrs, from July I, '4C, lo.lune SO, '48. Balance iu thc Trcasurv, Julv 1, I84G S9.12G.439 A;io ri. 1 ..'3 iicasun uuics aau tuaus, lS4C-'7 Avails o Treasmy notes and loans, 1847 'S Estimatcd dcficiciicv in the Treasurv, July 1, 1S48, " 23,079,199 6,285,294 15,7J29,114 550,820,040 iVdd appropriations asked for by the cccrctary, not indudcd lnms cs timate of cxpenditure, 10,001,844 Total hy Secretiry's cstimatcs, S6G,8S1,S90 Utuuct the amount of crror discov. cred at the Bepartmcnt, say G,S8I ,SS0 Lcaves thc truc deficicncy by Secreta- rv'scstimatc. " SCO.000.000 Add ibr over-cstimatc of revcnuc for currcnt ycar, 8,000,000 Truc deficicncy, 568,000,000 urtiurty-iour miuions pcr ycar, ior two vears. Sccrctarj- cstimates deficicncv for thc vcar cnding June 30, 1 849, S20,000,000 Add for over-cstimates of revennc, 9,000,000 L'nder-cstimate of cxpenditure, not in- cluding tcn rcgunents notcstuna- ted for 7,000,000 Total dcficiency for thrce years, $104,000,000 What, thcn, sir, is lo Le our futurc financial condiUon? 1 will suhmit anothcr cstunate, which is intcndcd to show the Senate to what cx tcnt the deficicncy is to go, aml what amount of moncy will bc ncccssary to uc raiseil upon thc public credit withiira pcriod ofcightccn months Irom this time. ilus is my object. I commencc with the deliciencv, as estimatcd hy thc Sccrctary ,of thirty-six millions on thc 30th Junc, 1 S49. In addition to thatain over-cstimate, as I bclicve it to bc, of the rcvcnues for thc cur rcnt vcar has bcen made. In the first placc, I dcduct from thc Sccrctarv's cstimate the sum of i evcn milliors, estimatcd by him to lie rcccived from customs iu thc cnrrent ycar. I also dcduct oncmillion from thc estimatcd rcccipts from thc salcs of public lands. I dcduct from his csti matcs of rcccipts for customs, for thc coming ycar, cnding June, 1849, ciglit millions more; and I dcduct for this ycar also onc million. as an ovcr-cstimate ol the rcccipts from public lands. Thcsc dcductions may appcar to Scnators to he large. Thcy may crcate an imprcs'ion tl.at thc object is to prescnt our financial ilFnirs in thcir worst aspcct. But. sir, I am confidcnt that an cxamination of the cstimatcs of thc Sccrctary, conpled with thc cxpcricncc ofthc past, andiea oningfrom thc prescnt condition of thc country, will convincetlic Scnatc that this dcduciion isliy no means too large : Sccrctarv's cstimate of deficicncvJunc 30, 1849, " J3G.000.000 Add for thcovcr-cstimatcof revennc, viz : Trom cutoins, ycar cnding June 30, '48, $7,000,000 l'ulilic lands same year, 1,000,000 From cusloms for vear cnd ing Junc 30, 1849, 8.000.000 Public lands same ycar, 1,000,000 Total ovcr-cstimatcd, S 17,000.000 Fur short cstimate of expaiditarcs. Amount of deficiencies for which thc Sccretary aks appropriation for thc currcnt ycar, SIO.000,1'00, dc dnctitig cxt css of cxpenditure by his cstimatcovcr cxiting appro priations, say 3,000,000, S 7,000,000 Under-cstimate of cxpcmlitures for fucal vearcnding June 30, '49, 7,000,000 For thc tcn regiuients conlempla- ted by tlus bill, not ot cour&c iucluded by thc Sceretarv, 4,000,000 tor loans nvauable. alreadv au- thorizcd, 4,000,000 Aggrcgatc, 570,000,000 Dcduct crror m thc oflicial rcport, 1 ,000,000 Total to be raiscd by loan ovcr .t abovc thc rcvcnues ot the country, 08,000,000 In this cstimate no noticc is takcn ofthe oulstanding Treasurv notes, which may, and probablv will, absorb thc rcvcnue toa grcat extent, and makc a furthcr rcsort to credit nccessarv. Thc first item of corrcction ofthe Sccrcta rv's report is the cstimate ofthe reeoints fiTin cu5toms for the currcnt vear. The hcmorable Sccretary cstimatcs thesc rcccipts at thirtv- onc millions of dollars. Sir, onc ycar ago, (111 Dcecmber, 1S4G,) lic e?timated tl:c jcccipts from customs lorthe then currcnt year al Iwcnty-ciglit millions, and, in pointoffact. thcv fcll short of twcntv-four, an ovcr-catimalc of over four millions, as testcd by thc actual reecints into the Ircasitrv- 1 takc the Iibcrty to say. that thcse cstimatcs arc alwavs too hirgc. And pcnuit me to rcmark, that thc cs timatcs of our expenditurcs arc always too sma.I. Our rcccipts lrom cui-toms lor the past vcar havc fallen short of twcntv-four millions. And 011 what data, onwh.it grouud of anlic iialion. does thc becrctarv niercaic tlie sum this year to thc amount of thirty-one millions an exce.-s in the rcvcnue from this smicc estimatcd for thc present ycar, 01 cr and abovc llic actual rcccipts of last ycar, to thc cxtcnt ol scvcn million of dollars V . Sii-, lct us insti- tu!c a coninarison bctwecn the condition of tliinrre iltinniT tbo n.Tst vcnr and the nrescnt TheTrcvcnuDS for thc paatyrar wcn- incrca'cd, in thc lirat place, by thc ccni'.incdelli'ctoltlie new tarilF, which was to go into opcration, by its tcrms, 011 thc first of Derember, 1S4C ; and the Warohcusc bill, which wcnt into cfiect on the day ofits passagc, viz., August Ith, 1S4C Both t"hec bills had bccp long pcnding onc havin" bcen introduccd into thc Scnatc 011 thc 21st Januarv. and the othcr into thc Ilousoonthu 14t!i Anril. lS4fi; so that the pasagc ofboth was for a long timc anticipatcd. Sir, the passage ofthe Tarifi" bill gavc no tice to the commercial world that, on thc first of December following its passage, tlic duties wcrc to be rcduecd. Your Wurcliouse bill tcndcred to thcm'thc piivilegc ofsloring thcir importations, nnd retaiiuiig duties ujkmi tiicm until thcy could bc writhdr.rwn upon tlic pay tnent ofthc rcduecd Tate of duties under thc new. act. Under thesc cin umslanccs, a very grcat jiortion of thc importations of the lattcr partotlKJG wcrc tiirown over ioriueKii ment ofthe duties to the month of Dect-mbcr. Thc result ofit w.v, that there was a very ircat falling oif in Ihc amount of duties rc ccived in that poriion ofthe year 1840. Sir. I havc an cstimate which will show you thc efiect of thesc two measures upon our rcv enue for the year cnding June, 1817. The for thc months of Jnlv, Augu-t, and Septcmber, 1845, amounted to cight millions iM'dit hundrcd and sixtv-two thousand dollars. Thc rcccipts for the same months in the ycar rtSlG fell to six millions onc liundred and fifly four thousand, making a difference of twomil- lious scvcn hundrcd and cight lliousanu uoi lars in tv thrce months conslituting the first (luartcr of thc vcar cnciiug 30th Junc, 1847. Thisisshown morc fully in thc following ta- ble: Iteceipts for Julv, Au- Fer month. 'U3t,&Septcmbc'r, 45, SS,8Gl,932orS2,!l53,977 Same months in 1349, 0,153,820 or 2,051,275 Diflercnec, 2,70S,10Gor 902,702 Iteceipts for first quar- tcrof fiscal year 4t-'7, 6,153,82Gor 2,051,977 Ueeeint3 for Octobcr and Novembcr, 181G, 1,688,480 or 544,140 DilTercncc, $1,207,837 AVhy was this ? Was there any thing in the commercc ofthe countrj- to producc thii declirie in thc rcicnue ? Was not thc coun trv advancins in nrosncritv during those years? It was unqucstionably the elTect of thc measures to which 1 uare auuacu. jnc rcvcnue fcll off bccause the importations were placcd in warchous.es to bo entored upon the pavment of reducedduties. Wcll, what next 'i In "the months of Octobcr and Xovember your reccipts fell to onc million six hundrcd and eightv-cight thousand dollars. or an average of cight'huudrcd and eighty-four thousand dol lars pcr month. Duriug the months of.luly, August, and Scptembcr, the duties avcragcd twoemillions fifly-one thousand and a fraction. Thc elTect ofthese measures, thcn, was prc ciselv what had bcen predicted on this fioor. 1 It was a most extensive falling ofT iu tho in come ofthe country, until thc pcriod of the first xf Dcecmber. 184G, arrivcd, and thcn vour revcnuc increased ; and that incrcase of rcvenuc has bcen thought of sufueicnt im portancc, not only to bc prcscnlcd to us very formally by thc Sccretary of the Treasurv, but to bc twice rcpcatcd in the Prcsident's mcssagc. If it bca mattcr of boasting tocxhibit tothc country at large thc valuc of this improvc mcnt in our financial svsjcm, the new tariff, why lct it pass. But, if it is iatendcd tolead as tothc inferencc that this incrcasa of rev cnuc is to continuc, I beg to disscnt altogethcr from any sueli conelusion. Sir, a companson has bcen made bctwecn tho vear cnding Dccenibcr 1st, 18-lCVand the ycar cnding December lst, 1817. For what purposc is thc fiscal year abandoned, aud the purposc Whiting thc operation of thc now tarilf, which wcnt into opcration on the lst IJeccmbcr, 1846. Isut, as 1 have already rcmarkcd, thc revcnuc bclonging to thc lattcr part ofthc year 181C was thrown upon thc succccding months, wlien thc new tariff bill wcnt into opcration, and this prcscntcd an aceumula tion of revcnuc during thosc months. Other cireumstances combitied to swell tlic rev enues at the close. of that year. Thc peeuliar state ofthingsMn Europc, thc extraonlinary deinand for our productions, and the in creased importation tonseqnent on tho cxpor- tation ot thosc productions, tcnded to tnrow upon thc latter part of thc year a large in crcase. In slmrt, thc ycar beiwcen Decem ber 1, 1S1G, and Dccojber 1, 1847, with thc aid ofthc warebousing"system, liorrowed thc rcvcnues ofthc preceTling vear, nnd, m conse- qucnce ofthc cxccssivc importation, growing out of our incTcased exportatious, anlicipatins ine iiuure wants o: tlic country, it ar.iicipaicti the rcvcnue ofthc suceceding ycar. Are wc to supiiose that, bccause there wasan increac of duties during that vcar, that incrcase is lo continuc? A monientV attcntion to the suljcct I'orbids any surli conelusion. What causes arc tooperate ? In tho first place. wlien this great importation took placc tlie countrv was prosK.'roiii". monov was ilowing in from abroad ; notwithsfanding this grc.il importation, thcrc was a balaneo of moncy coming into thc country to thc cxtcnt nf twcnty or thirly niillions of dollars. What is thc condition of th; country now? Instead of hawug a stirplus of capital, you rnid a stringency in thc moncy-market, Instead of a a surplus of capital, thc surplus of a jeriod of pro-,jierity has ought inriMmcnt in various ways. A last amount has liceii invested, and is inproocisof invcslment, in railroads lifty millions, it is comptik-il, iu Xew-England alone : in nianufacturing enterprisf-s, aud in vour public debt ; a vast amount is alisorbcd by goods on Iiand ; a rigid curtaihncnt ofthe eun-ency nnd a stringency in the moncy markct. almost unprccfdcntcd, has ensued. Sir, are wcseriouly lo ealculale, in this state ofthings, upon thc contitiuance ofthc same couimercial actiiity, the tapic state of revcn uc V But this is not all. Thc unusual imiwr'a tions, stimulatcd by our increased dcniand for our productions, have thrown into thc country a grvatcrquantity of goods than wcre wan ted. There isa surplus of goods. The im portations increased somc tliirty or forty mil lions of ilollars. Wcll, if thcrc" i a surplus to this amount, thcrc is no induccmetit to im porl ; and, as I havc alrcadv rcmarkcd. we are not ablc to pnrehase. Xor is this all. If the course of trade throw into the country a greater importation than thc prescnt deinand .varranted, your warehousc sy.-tem furnished a rcsource by which thc importcr was savcil from thc ncressity of achancing the aniount of thc duties upon his importation until thcrc was a market for the goods. The importations hcrcaficr will go inlo the warchouscs, and oa will gct no duties until thc goods arc wantcd i for consiimption. Sir, thcrc eems to be a strangc idca cntcr- tained in reganl lo this matler. and. althnu'jh .-tranirc. it secrriS lo bc a f.norite idca it is, ) eomputation ot time made lrom the lst o: j.;,-"- - December, in onc year, to that pcriod in thcTb,-v nnidlowance for thc grcatorpn.diictivc Tir,,,!,! fnn tho T,nrnrn nfox- "tss ot the first quartcr,) hc would make thc that our cxportations arc to bc governed by , sales of thc public lands. Wr cll, sir, during; our importations, and that wc may incrcase thc past year j our salcs did not reacli two our cxportations by incrcasing our importa- ! millions and a half. Ujon what thcory, thcnj ti ns. This, sir, 1 bclietc is contrary to all it is that thc Sceretan-etimatcs one milHon experiencc. It is a theory wiiich is calculaled more from the rcccipts for public lands t'i.n to bankrupt the public treasurv, or to ruin wa3 actually rfvcivp.l la-t ycar, I baeyctio Ihc fortuncs of any privafc indirfdu.il who a- , lcam. Itis a point whicli I am not prcparcd dopis and acts ujioii it. Sir, my thcorj- is the ; to disru'.-s, bccause I can sce no reasou at a'l reierse ofthis. Your csjiortations should ( for such an c-timatc ; and, un!es rca-ns sie govern vour importations. Vou should buy prcscntcd from sonn; other qunrtcr, I shall onlv what yo i can pny for. I supjiosc that still bc incredulous. I dednct, thercfore, onu our" importations mmtdcpcnd, to a vcry great ,' million from thc cstimafed rci cipts from tbo extcnl, upon thc amount of our exporta- public lands, becaiiM; tli; cstimate cxcccds tinns. nll experiencc, aud Lcacuse no rcason has Wliat has cnab'cd us (o incrcase onr im- bcen assigncd, and nnne, in my jndgnicnt, portations? The dcmand for onr brcadstuffs. can bc asMgncd for it. That makes eight which has now ncaily cesed ; the famiie , millions to be deductcd from the Secretary's and dNtress abroad, which has now passcd by , cstimate of rcvcnue for the rurrent ycar '4 7 ' and, whateier may bc thc ability of other na- and to bc addcd to thn estimatc ofdcficien tions to purchase our iroductions. thcy will cy. not buy what thcy do not necd. There must , The ticxt ilcmh an ovcr-c'tiinatc ofthc bc a falling ofTof your cxportations; and. as rcvtnuc frum cnstoms fnr thc icar cnding a nccessarv conseq'iicnce, a falling off ofini- Juiic, 1849. I have vcry little to say in re porlalions'and of revciine also. Sir, thc av- ganl to this ; I merely refer to thc fact that, era"-e rate of duty under the prescnt tarnT is Ihe rcvcnue having fallcn ofl', I cannot per sucG as to requirc at lcat onc hundrcd and ! ccivc ujKm what calcnlalion it is that, in tho fiftv millions of imporlaliotis to raisc tliirty ( peeuliar condition ofthe conntrr, the rcvc miflirms nf reveniie. I believc mv lionorablc i iiuc from thc customs is to risc to thirty-two I'ricnd from Bhoile Island estimatcd it at one I hundrcd and scvcnty niillions. He includcs in his estimatc thc gra-s amount of importa- ! tions.including frcc goid? : mv astimatc is ot dutiuble goods only. If I recollect aright, the avcragc rate ofthc existing tari:T is twehty two or twcnfv-thrcp pcr eent. Now, such an importation cxeeeds the nbility ofthc country. Siu-h is onr nreM-nt siluation : and what are wu to expcct forth? periml includc-il between as thrce millions, am I ajk njion what basis tbisnndthc lst of.luly, 119' Your nceessi- docs this cstimate rot ? Do wc not al! kmr-. ties for monev, your oxorbitant dcmand for that wc havc grantcd Isnd bounties to onr sol loans, ccmbilied witli thc operation of hc diers to thc cxtent of al lcast scvpnty tkous-Sub-trcaurv and its srxvie-clause, pressing ; aud, which will covcr 1 2 millions of acrcs cf witli combined action iqoii tlic moncy-market, j your puhlic lands? Your aversgc pah's are must perpetuate this state ofthings. I but two aml ahalf nillb'ins arnaally, and you Sir, I have becn comparing thc estimatcd kne actually thmwn intothc market, in boun rcccipts for the currcnt ycar with thote ofthe ties to yonr soldicry, rrngli to rorrr, at this last.' I havc rcmarkcd "that in thesc calcula- avcragc, an .imoowt of sales for fivc years. tions the data are derivtd fjipm the resulU of Now,'under tli?e circiiia-'anccs, when.Iand ofthe past, from thc estimates ofprcvious warrant arc tlrrown ab.oad ovcr thc country, vears: and I have rcmarkcd, furthcr, that du- sufueicnt to covcr fiieicara salcs, we nrc prc ritigthc ycar 1847 a grcat part of thc rc- : stntcil with a graic o.-Ueolation of an increaso ceipts consists ofreturns which properlr bc-1 ofa millionof dollars from thissoun-e. Tiiro. ion" to a formcr period. Xow, I ask, on what 1 may posiblv bring thi.- nl.out. Tlic Sc-reta- ordinarv calculations, in view of thcsc circum-1 rv of tho Trcasur' may tns abre. to sce furthcr stanccs," does thc lionorablc Sccretary raise liis than thc restofus; but whefhcr it may bo. estimates of the reccipts from twentv-four, thc ' bronght about or not, in my humblc judg actual reccipts Inst vcar, to thirty-oiic millions mcnt, such an estimatc is not to be eonsidcrcil of dollars ? What consideralions fumish a by us on this occasion as a satfcfactOry l-ajls Imsisfnr stlcli n r.llcnlnt;nn ' ' for Ollr .lctioa. I DlUst .idd, tllCnAtn the Sei- I haic takcn some pains to ascertain how tho lionorablc Sctretarv nrri.es at it. It is his: IIc takcs, in the first placc, the receipts for thc first quarter, for July, Augu.-t, and S'.-ritember. These arc preciscly the months in whicli wc were getting retnrns for our l.rnnls.nfrs TTpihcn r)"KCcd to tcll us that, assumin- the revcnueof the first quarter tobc an avcra"C of thc vcar, thc roi ccds from customs ?or thc whc'u year will amounf to forty-five millions. It is enongh to say ofthis calcuhtion tliat thc lionorablc Sccretary hirn self discards it as thc basis of an cstimate. Being dissatisfied witb this resnlt, he proceedj to asccrtain thc rclctive proportion of the rev cnuc ofthc iirst quartcr ofthc ycar as eom-' parcd with the rcvcnue ofthe ycar, for a se rics of years. IIc thus asccrtains that thc first quartct is thc most productivc, and, bv rcdu cing his estimates in proporlioir, bc bnngs his calculations down to forty millions irtstead of forty-fivc. But hc is still dissatisfied. The next step is to asccrtain the revennc for tho fivc months r.cxt prev icns to thc first of Dc ecmber, 1S47, which nc tells us amounts tor S15,.-0C,2.i7, or a little ovcr S3.000.000 pef month. Ivtima'ing the rcvcnue for thcr lirnlvA mn-ll... il... 1 ! nw.1i.. revcnuc ofthe vear amount to S35, 0,000. But hc is not satisficd with this. What next?' He aseerfains the rcccipts for thc last two months ofthe fivc viA Octobcr ;,ud NoYenv ber, to bo 2,200,000 pcr month ; ai d esti- raatcs the rcccipts for the residue of thc fis- cal year at that rate. To this he adds the ac tual rcccipts cf the first quarter, and it givcs about 31,000,000 for the ycar, as will bescerf by thc following table : Actual reccipts forlivc months cnd ing December 1, 18J7, 15,500,257 Bcccipwforthe first quartcr as pcr annual rcpsrt,dcducted 11.106,257 I.cavcs for Octobcr & Nov., 4,40O,oi;' (Or an avcragc of 2,200,000 per montli.) Estimatirtg ! months at tliat avcr agc, 2.200,i '00, 19,S0O,0lO Add actual reccipts of first quar tcr, 11.10C.2" Givcs for Ihc ycar, "',f W 257 Or, in round numbcrs, 31.' l").f'0 Hcrc you havc Ihc lmsis ofthe c?timat.s of the lionorable Sccn.tarr. Xow. the Pecrctan- iimlVI'i.s reccipts rapii'" ly d.M-Iining. beeansc thc iniportatio'is arc di clining. It aiiears. ns heretofore stati d. Ii.'t the reccipts for the first quartcr of lli" car rent year aniount to 1 1.10C, 257, or emi.i' to ?:i,7O2.0R.i per monlh. The rcccipts for Pi tobef and Xoveinlicr arc inpnl lo --2 .""0.' ' jmt rmmth. 'Ilms we have a fallin? off du ring the first fivc inontlw ol' thc fisrnl yeir, from 3,70.1)85 for July. August, nnd Kep lemlVr, Ui .-t0, o, tl.e avcragc of Otto ber. or a I'alling ofl'ol'I.5o0.00o pt r unmth. Ts it not nppnreat to cvcry Senalor who hears mr, that this dcclinc nwist contini'.e Is it not apparcut t Ti.it thcro is an overs'u. !c ofgoiMlsiii thc comit.'y ; and is it not w'.l known that thc srareity of moncy has indn-cl importei-s io -ouutcrninnd thcir orders i r good.s? Sir, we havc it from the vcry be .mlhorily. Ltidcr thcse circumstnnc(.-, althong'i ticrr' may bc a greai inlltix nf revennc during tl first (teijter of the vear, it is apparcut that it is the mcre cfiect ot1 the act imulation of rev ennc in that quarter for the reasous 1 hav mcntioii."d. The vcry fact that your imports, and, consequcntly ynur revciine, are i'i-cn-ased in onc iortioii ofthe ycar, must i : ' you to cxjicct tlmt it will dceline iit the othcr' portions. Now, I asfc, on ivliat prtncijile it is exp -tcd that thc amount ofthc revcr.ue from in. ports this ycar will cxtccd that of lli!? h.st ? Sir, thc truc rulc of conpari-on would bc tof takc tho fiscal ycar, fe'nd that for thc vcry rcason that I haie already asigncd. 'I'he tar ilf of 1S-10 covers llie fiscal vcnr cnding lst July, 1817, although it went mto clfrct in Dc ecmber. bccause thc iiavmcnt of duties was in a great mcasurc super.dcil during thc in torvcntns time between. the tia-Jsagc Oi lln I art and the time ofits going into opcmt'on. Wcll, sir, I will not pursucthij braiich cf the siibliw-t. What is thc next ground of itio Iionrrrablc Spfirtnn': e;lim:ite. V Ile eslimates thrcn and a half millions as the procer,s of thcr millions for the ensuing iw Tlic prescnt state of thc country rcndcrs it impossible ; and. as to any change. I liavc not scen thc slightest prospect oiit. eil, sir, l taicc tue .ecicta ry's cstimatcs ; and I must dcduct cight mil-' lfons fiom his cstimateil rc"ceipts from customs for thc year ending Junc, 1849. I then takct the cstimate ofthe recoipls frora public lacda lor tlic coming vcar, wlueli e lias givcn- lo u retarj ' estimatc ofthe dfi.-icnryfthc sum of seicnteen millicus of doilars, Uing aa oicr- cstimate by him, tortucsc aRiinciions irom the cstimates of rcce;pts-into the puuUc irea?- ury a large sum, I admit ; bnt if gentlemctt will givc a little attcntion to the subjm-t, I think thev will come to the conelusion at which I have arrivcd. f r, thc-i is ano'cr tranili of tl suliect whii h I desirr jnot -c.and it is 'V tV ex- pcnditurfcs of thc currcnt .-earare ejtnnatvJ t P