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wholly exempt from public indebtedness. 1 his would add still more to mir strength, and give to us a still more commanding i>usitioii among the nations ol the earth. 'nl0 pubiic expenditures should 1h: economical, and lie confined to such necessary objects as are clearly within tho powers of Congress. All such as aru not absolu ely demanded should Im postponed, and the payment of the public debt at tlm earliest practicable period should be a cardinal principle ol our public policy. For the reason assigned in my last annual nies Kitro | repeat the recommendation that a hratM.li ol the mint of the United States lm established at tho city of New York. The importance ol this mea sure is greatly increased by the acquisition of tho rich mines of the precious metals in New Mexico and California, and especially in the latter. I repeat tho recommendation, heretofore made, in favor of the graduation and reduction of the price of such of the public lands as have been long offered in tho market, and have remained unsold, and in favor of oxtending the rights of pro emptiou to ac tual settlers on the ur.surveyed as well as tho surveyed lands. 'Fhe conditions and operations of the army and tho state of other branches of the public, service un der the supervision of the War Department are sa tisfuctorily presented in the accompanying report of the Secretary of War. On the return of peace, our forces were with drawn from Mexico, and tlm volunteers and that ]iortion of the regular army engaged for tlm war were dislonded. Orders have been issued for sta tioning tlm forces of our permanent establishment at various positions in our extended country where troops may be required. Owing to tlm remoteness of some or these |M>sitions, the detachments have not yet reached their destination. Notwithstand ing tlm extension of the limits ol our country, and tlm forces required in the new territories, it is con fidently believed that our present military establish ment is sufficient for all exigencies so long as our |ieaccful relations remain undisturbed. Of the amount of military con tri bin ions collected in Mexico, tlm sum of seven hundred and sixty nine thousand six hundred and filly dollars was ap plied towards the payment of the first instalment due under the treaty with Mexico. The further sum of three hundred and forty six thousaad three hundred and sixty-nine dollars and thirty cents lias lieen paid into the Treasury, and unexpended bal- | ances still remain in the hands of disbursing officers and those who were engaged in the collection of these moneys. After the proclamation of peace no further disbursements were made of any unexpend ed moneys arising from this source. The balances on hand were directed to bo paid into the Treasury, and individual claims on the fund will remain un ^adjuslcd until Congress shall authorize their settle ment and payment. These claims are not conside rable in number or amount. 1 recommend m your favorable consideration the suggestions of tlm Secretary of War and tho Secre tary of the Navy in regard to legislation on this subject. Our Indian relations aro presented in a most fa vorable view in the report from the War Depart ment. The wisdom of our policy in regard to the tribes within our limits is clearly manifested by their improved and rapidly improving condition. A most important treaty with the Menomonies has been recently negotiated by the Commissioner of Indian Affairs in jrersoiis by which all their land in the Slate of Wisconsin—being about lour mil lions of acres—lias been ceded to the United States. This treaty will lie submitted to the Senate for rati fication at an early period of your present session. Within tlm last four years eight important trea ties have lieen negotiated with different Indian trilies, and at a cost of one million eight hundred and forty-two thousand dollars ; Indian lands to the amount of more than eighteen million five hundred thousaad acres have been ceded to the U. States; nnd provision has been made for settling in the country we-st of the. Mississippi the tribes which oc cupied this large extent of liic public domain. The title to all the Indian lands within the several States of our Union, with the exception of a few small re- ! ser vat ions, is now extinguished, and a vast region | <q»ened for settlement and cultivation. The accompanying report of the Secretary of the Navy gives a satisfactory* exhibit of the operations and condition of that branch of tho public service. A number of small vessels suitable for entering the mouths of rivers were judiciously purchased du- ! ring the war, and gave great efficiency to the squad ron in the Gulf of Mexico. On the return of pace, | when no longer valuable for naval purposes, and li able to constant deterioration, they were sold, and tlm money placed in the Treasury. The number of men in the naval service aullio- i rize.d by law during the war has been reduced by ; discharges below the maximum fixed for tho peace establishment. Adequate squadrons are maintained in the several quarters of the globe where experience has shown tlmir services may he most usefully em ployed ; and the naval service was never in a con dition of higher discipline or greater efficiency. I invite attention to the recommendation of the j Secretary of the Navy on the subject of the marine corps. The reduction of tlm corps at the end of the war required that four officers of each of the ! three lower grades should he dropped from tlm rolls. A board of officers made tlm selection ; and those designated were necessarily dismissed, but without ! any alleged fault. I concur in opinion with the Secretary that the service would he improved by reducing the number of landsmen and increasing the marines. Such a measure would justify an in crease of the number of officers to the extent of the reduction by dismissal, and still the corps would have fewer officers than a corresponding number of men in the army. The contracts for the transportation of the mail in steamships convertible into war steamers promise to realize all the benefits to our commerce and to the navy which were anticipated. The first steam er thus secured to the. Government was launched in January, 1847. There are now seven; and in another year there will probably be not less than seventeen afloat. While this great national ad vantage is secured, our social and commercial in . tcrconrsc is increased and promoted with Germany. Great Ilritain, and other parts of Kuropc, with all the countries on the west coast of our continent,es pecially with Oregon and Ualifornia, and between the northern and southern sections of the United States. Considerable revenue may bo expected ffrom postages ; but the connected line from Now York to Chagres, and thence across the isthmus to Oregon, cannot fail to exert a beneficial influence, toot now to be estimated, on the interests of the ‘manufactures, commerce, navigation, anil currency •of the United States. As an important part of the ■system, I recommend to your favorable considera tion the establishment of the proposed line of stcain *crs between New Orleans and Vera Cruz. It pro misses the most happy results in cementing friend ship between the two republics, and in extending reciprocal benefits to the trade and manufactures of both. The report of the Postmaster General will make known to you the operations of that Department f>r 4he past year, It is gratifying to find the revenues of the De partment, under the rates of postage now establish ed by law, so rapidly increasing. The gross a mount ol postages during the Inst fiscal year amount ed to four million three hundred and seventy-one thousand and seventy seven dollars, exceed irm the annual average received for the nine years im.nc d.ately preceding the passage of the act of the third ol March, 84,>, by the sum of six thousand four hundred and fifty-three dollars, and exceeding tlm amount received for the year ending the thirtieth of June, 1817, by the stun of four hundred and twen ty-mo thousand one hundred ami eighty ft,or ,j(,j Jars. The expenditures for the year, excluding the sum of ninety four thousand six hundred and sev enty-two dollars allowed by Congress at its |ast session to individual claimants, and including sum of one hundred thousand five hundred dollars paid for the services of the line of steamers between flrppicn and New York, amounted to four millions one hundred tnd ninety right thousand eight linn dred and forty-fivn dollars, which is less than the annual average for the nine years previous to the f. act of 1845 by three hundred thousand seven hun dred and forty-eight dollars. ’The mail routes, on the l>Oth day of Jane last, j were one hundred and sixty-threo thousand two hundred and eight miles in extent—being an in erease during the last year of nine thousand three hundred and ninety miles. 'The mails were trans lated over them, during tlic same lime, forty-one million twelve thousand five hundred and seventy nine miles ; making an incrcaso of transportation for the year of two million one hundred and twenty four thousand six hundred and eighty miles, whilst ■ tho expense was less than that of tho previous year j by four thousand two hundred and thirty-five dol J lars. The increase in the mail transportation within tlic last three years has been five million three hun dred and seventy-eight thousand three hundred and ; ten miles, whilst the expenses were reduced four I hundred and fifty-six thousand seven hundred and ; thirty eight dollars ; making an increase of service at the rate of fifteen per cent., and a reduction in the expenses of more than fifteen |<er cent. During the past year there have been employed, under contracts with tho Post Office Department, j two ocean steamers in conveying the mails nioulli j ly between New Vork and Bremen, and one, since | October last |>criorming semi-monthly service l>c tween Charleston and Havana ; and a contract has i been made fir the transportation of the Pacific , mails across the isthmus from Chagres to Panama. { Under the authority given to the Secretary of 1 the Navy three ocean steamers have been const ruct ■ ed and sent to the Pacific, and are expected to en ter upon the mail service between Panama and Oregon and tl.e intermediate ports, on the first of January next, and a fourth has been engaged by him for the service between Havana and Chagres; so that a regularly monthly mail line will be kept up after that time between tho United Slates and our territories on the Pacific. Notwithstanding this great increase in the mail service, should the revenue continue to increase the present year as it did in the last, there will be ; received near four hundred and fifty thousand dol \ lars more than tho expenditures. These considerations have satisfied the Postmas ! ter General that, with certain modifications of the act of 1845, tho revenue may bo still further in creased, and a reduction ofjHisiagcs made to a uni form rale of five ccnls, without an interference , with the principle, which has been constantly and properly enforced, of making that Department sus ; tain itself. A well-digested cheap postage system is the best means of diffusing intelligence among the people, | and is of so much importance in a country so ex tensive as that of the United States, that I recom mend to your favorable consideration the sugges tions of the Postmaster General lor its improve ment. Nothing can retard the onward progress of our country, and prevent us from assuming and main taining the first rank among nations, but a disregard of the experience of the past, and a recurrence to an unwise public policy. We have just closed a for eign war by an honorable peace—a war rendered necessary and unavoidable in vindication of the na tional rights and honor. The present condition of the country is similar in some respects to that which existed immediately after the close of the war with Great Britain in 1815, and the occasion is deemed to be a proper one to take a retrospect of the measures of public policy which followed that war. There was at that period of our history a de parture from our ealicr policy. The enlargement of the powers of the Federal Government by con struction,which obtained, was not warranted byany just interpretation of the constitution. A few years 1 alter the eluse ol that war, a series of measures was adopted which, united and combined, constituted I what was termed by their authors and advocates J the “American system.” The introduction of the new policy was for a time favored by the condition of the country ; by the heavy debt which had been contracted during j the war ; by the depression of the public credit; by the deranged statu of the finances and the currency; and by the commercial and pecuniar)' embarrass ment which extensively prevailed. These were 1 not the only causes which led to its establishment, l ire events of the war with Great Britain, and the ernbrrrassments which had attended its prosecution, had left on the minds of many ofour statesmen tho impression that our Government was not strong e nough, and that to wield its resources successfully j in great emergencies, and especially in war, more j ! power should he concentrated in its hands. This increased power they did not seek to obtain by the legitimate and prescribed mode —an amendment of the constitution—but by construction. They saw I Governments in the Old World based upon different J orders of society, and so constituted as to throw the whole power of nations into the hands of a few, | who taxed and controlled the many, without re ' sponsibility or restraint. In that arrangement they : conceived the strength of nations in war consisted. | There was also something fascinating in the ease, | luxury, and display of the higher orders, who drew | their wealth from the toil of the laboring millions. The authors of the system drew their ideas of po litical economy from what they had witnessed in ! Europe,and particularly in Great Britain. They j had viewed the enormous wealth concentrated in 1 ; few hands, and had seen the splendor of the over- I j grown establishments of an aristocracy which was ' i upheld by the restrictive policy. They forgot to : look down n|>on the poorer classes of the English population, u|>uii whose daily and yearly labor the | ; great establishments they so much admired were sustained and supported. They I.tiled to perceive that the scantily-led and halt-clad operatives were not only in abject poverty, but were hound in chains 1 | of oppressive servitude for the benefit of favored classes, who were the exclusive objects of the care of tlic Government. It was not possible to reconstruct society in the United Stales upon the European (dan. I loro i there was a written constitution, by which orders and titles were not recognized or tolerated. A sys- ' tern of measures was therefore devised,calculated, il not intended, to withdraw jiower gradually and silently from the States and the mass of the people, and by construction to approximate our government to the European models, substituting an aristocracy of wealth for that of orders and titles. | Without reflecting upon the dissimilarity of our institutions, and of the condition of our people and those of Europe, they conceived the vain idea of' building up in llio United Slates a system similar to that which they admired abroad. Great Britain bad a national bank of large capital, in whose ! bands was concentrated the controlling monetary i and financial power of the nation ; an institution i ! wedding almost kingly power, and exerting vast ' - iufluenne upon all the operations of trade, and up on the policy of the Government itself. Great j Britain had an enormous public debt, and it bad become a part of her public policy to regard this as ! a ‘‘public blessing.” Groat Britain had also a re strictive policy, which placed fetters and burdens | on trade, and trammelled the productive industry of the mass of the nation. By her combined sys- | tom of polie.y, tho landlord and other property- j : holders .vere protected and enriched by the enor- i toons taxes which were levied upon the lalior of the country for their advantage. Imitating foreign policy, the first step in es- • tablishing the new system in the United States was the creation of a national bank. Not foresee- j ing tho dangerous power and countless evils whirl) .such an institution might entail on the country, nor perceiving the connexion which it was designed to torm between the hank and the other branches of the miscalled “American system,” but feeling the ; embarrassments of the'Treasury , and of tho busi ness of tlic country, consequent upon the war. somr of our statesmen who had held different and sounder views were induced toyeifd their scruples. I and, indeed, settled convictions of its unconstitti j tionality. and to give it their sanction, as an expe- ' rlient which they vainly hoped might produce re lief. It was a most unfortunate error, as the sub sequent history, and final catastrophe of that dan- I gorous and corrupt institution have abundantly proved. The bank, with its numerous branches j ramified into the States, soon brought many of the •olive political and commercial men in different , 8cc,,°nsof the country into the relation of debtors to it and dependants ujion it for pecuniary favors ; tlius diffusing throughout the mass of society a' great number of individuals of powerand influence to give tone to public opinion, and to act in concert m eases of emergency. The corrupt jxnver of such a political engine is no longer a matter of g|iccuht lion, having been displayed in numerous instances, but most signally in tho political struggles of •>-’■1, in opposition to the puhiic wilT repo'sented by n fearless and patriotic President. Hut the bank was but one branch of tho new system. A public debt of more than one hundred and twenty millions of dollars existed ; and it is not to lie disguised that many of the nothors of the new system did not regard Us speedy payment as essen tial to tire public prosperity, hot looked upon its continuance as no national evil. Whilst tho debt existed it furnished aliment to the national bank, and remh'jr:il increased taxation nrcrssnry to the a mount of the interest, exceeding seven millions of dollars annually. Phis operated in harmony with the next branch of the new system, which was a high protective larifl. J his was toalliird bounties to lavored class es and particular pursuits, at the expense of all o thers. A proposition to tax the whole people fir the purpose of enriching a few was too monstrous to lie openly made. The scheme was, therefore, veiled under the plausible hot delusive pretext of a measure to protect “home industry ;” and ninny of our people were, for a time, led to believe that a tax which in the main fell upon labor was for the lie nefit of the laborer who paid it. This branch of the system involved a partnership between the Go vernment and the favored classes—the former re ceiving the proceeds of the tax imposed on articles imported, and the latter the increased price of simi lar articles produced at home, caused by such tax. It is obvious that the portion to bo received by the favored classes would, as a general rule, lie increas ed in proportion to the increase of the rates of tax imposed, and diminished as those rates were re duced to the revcnuestnndard required by the wants of the Government. The ratos required to produce a sufficient revenue Ibr the ordinary expenditure of Government, for necessary purposits. were not like ly to give to the private partners in this scheme profits sufficient to satisfy their cupidity; and hence | a variety of expedients and pretexts were resorted j to lor the purpose of enlarging the expenditures, i and thereby creating a necessity for keeping up a i high protective tariff. The effect of this* policy j was to interpose artificial restrictions upon the nat ural course of the business and trade of the country, j and to advance the interests of large capitalists and’ ' monopolists, at the expense of the great mass of the j people, who were taxed to inercase their wealth. Another branch of this system was a comprehen sive scheme of internal improvements, capablo of indefinite enlargement, and sufficient to swallow up ns many millions annually as could be exacted from the foreign commerce of the country. This was a convenient and necessary adjunct of the protective tariff. It was to lie the great absorbent of any sur jilus which might at any time accumulate in the Treasury, and of the taxes levied on the people, not for necessary revenue purposes, but for the avowed object of affording protection to the favored classes. Auxiliary to the same end, if it was not an es sential part of the system itself, was the scheme which, at a later period, obtained fir distributing the proceeds of tho sales, of the public lands among the States. Other expedients were devised to take money out of the Treasury, and prevent its coming in from any other source than the protective tariff, i The authors and supporters of the system were the ! advocates of the largest expenditures, whether for necessary or useful purposes or not, because the! larger the expenditures the greater was the pretext ! for high taxes in the form of protective duties. Those several measures were sustained by pop- j ular names and plausible arguments, by which thou- : sands were deluded. The bank was represented to be an indispensable fiscal agent for the Govern- j inent; was to equalize exchanges, and to regulate and furnish a sound currency, always and'every ; where of uniform value. The protective tariff was 1 to give employment to "American labor” at ad- j vanced prices; was to protect “home industry,” 1 and furnish a steady market for the farmer. Inter nal improvements were to bring trade into every | neighborhood and enhance the value of every man’s prope.ty. '1 he distribution of the land money was to enrich the Slates, finish their public works, plant j schools throughout their borders, and relieve them j from taxation. Hut tho fact that for every dollar ; taken out ef the Treasury for these objects a much ! larger sunt was transferred from tl.e pockets of tho people to the favored classes was carefully conceal ed, as also the tendency if not the ultimate design of the system to build up an aristocracy of wealth, to control the masses of society, and monopolize the jk>1 itical power of the country. Tho several branches of this system were so in timately blended together that in their operation each sustained and strengthened the others. The i joint operation was to add new burdens of taxation J and to encourage a largely increased and wasteful j expenditure of public money. It was the interest of the bank that the revenue collected and the dis J horsements made by tho Government should ho ! largo, because, being the depository of the public I money, the larger tho amount the greater would bo j the bank profits by its use. It was the interest of [ the favored classes, who were enriched by the pro tective tariff, to liavo the rates of that protection as high as ]M>ssiblo; for the higher those rates the greater would be their advantage. It was the in- ! lercst of the people of all those sections and locali- i ties who expected lo bo benefited by expenditures ; for internal improvements that the amount collect- ! ed should bo as large, as possible, to the end that : the sum disbursed might also ho the larger. The States, being the beneficiaries in the distribution of! ; the land money, bad an interest in having the rates i | of tax imposed by the protective tariff large enough to yield a sufficient revenue from that source lo j j meet the wants of the Government, without dis- 1 turbing or taking from them the land fund, so that , oaeh of the branches constituting the system bad a ; common interest in swelling the public expendi- : tnres. They had a direct interest in maintaining the public debt unpaid and increasing its amount, : because this would produce annual increased drain upon the Treasury to the amount of the interest, ; and render augmented taxes necessary. The opo ration and necessary effect of the whole system were, to encourage large and extravagant expendi | turns. and thereby to increase the public patronage, atu! maintain a rich and splendid Governmental Hie expense of a taxed and impoverished people. it is manifest that this scheme of enlarged taxa lion and expenditures, bad it continued to prevail, must soon have converted the Government of the | Union, intended by its framers tn be a plain, cheap, and simple Confederation of States, united togelh- 1 j er for common protection, and charged with a few specific duties, relating chiefly to our foreign af lairs, into a consolidated empire, depriving the | States of their reserved rights, and the people of their just power and control in Ihe administration of their Government. In this manner the whole ; form and character of iho Government would be changed, not by an amendment of tlm constitution, blit by resorting to an unwarrantable and unauthor ized const ruction of that instrument. The indirect mode of levying the taxes by n do ty on imports prevents the mass of the people from readily perceiving the amount they pay, and has enabled tho few, who arc thus enriched, and who seek to wield the political power of tho country, to deceive and delude them. Were Ihe taxes col lected by a direct levy upon the people, as is the case in the States, this could not occur. The whole system was resisted from its inception by many of our ablest, statesmen, some of whom doubled its constitutionality and its expediency, while others believed it was, in all its branches, a flagrant and dangerous infraction of the constitu ; tion. That a national bank, a protective, tariff, levied not to raise the revenue needed, but for protection merely, internal improvements,and tho distribution | of the proceeds of the sale of the public lands, are measures without the warrant of the constitution. Would, upon the main rest consideration, seem to lie clear. It is remarkable that no one of these moa j sores, involving such momentous consequences, is ; authorized by any express grant of power in the i constitution. No one of them is “incident to, as ’ living necessary and pro|iur for the execution of, the s|«ecific powers” granted by the constitution. The , authority under which it has been attempted to jus tify cachet them is derived from inferences and con structions of the constitution which its letter and its I whole object and design do not warrant. Is it to bo conceived that such immense powers would have Ivon left by the trainers of the constitution to mere I inferences and doubtful constructions? Had it been intended to confer them on the Federal (iovern ment, it is but reasonable to conclude that it would , have lieen done by plain anil une«|uivocnl grants.-•* j This was not done; but tho whole structure of : which the “American system” consisted was rear ed on no other or better foundation than forced im plications and inferences of power which its authors 1 assumed might be deduced by construction from the ■ constitution. lint it lias lieen urged tliat the national hank, which constituted so essential a branch of this cum billed system of measures, was not a now measure, ! and that its constitutionality bad been previously > 1 sanctioned, because a bank bail been chartered in J/'.)!, and had received the official signature of I’re j sident \\ ashinglon. A few facts will show the1 just weight to which this precedent should be enti tled as hearing iijmjm the (piesliun of constitutional- : (■real divisions of opinion upon tlm subject oxisti'd in Congress. Ii is well known that President j ^ ashington cnntrrtained serious doubts Ixitli as to the constitutionality and expediency of the meas ; ure ; and while tin* bill was before him for his oilt [ approval or disapproval, so great were these | doubts, that he required “the opinion in writing” j ot the members of his cabinet to aid hint in arriving i at a decision. His cabinet gave their opinion, and were divided upon the subject—General Hamilton ! Ix-ing in tavor ot, and Mr. Jefferson and Mr. Jlan i dolph lieing opposed to, the constitutionality and j expediency ot the bank. It is well known, also, : that President Washington retained the bill from j Monday, the fourteenth, when it was presented to j hint, until Friday, the twenty-fifth of February— | being the last moment permitted him by thcconsti | lotion to deliberate, when he finally yielded to it his reluctant assent, and gave it his signature. It is certain that as late as the twenty third of Felmi | ary—lieing the ninth day after tin* hill was presont | ed to him—he had arrived at no satisfactory con i elusion ; lor on that clay he addressed a notetoGen . Hamilton, in which he informs him that “this I bill was presented to me by the joint committee of I Congress at l"J o’elotiv on Monday, tlie fourteenth : instant ;” and ho requested his opinion “to what i precise period, by legal interpretation of the consli ; lotion, ean the President retain il in liis possession, beforoit becomes a law by the lapse often days.”— If the proper construction was, that the day on | | which the bill was presented to the President, and the day on which his action was had upon it, were* ; both to bo counted inclusive, then the time allowed , him, within which it would be competent for him j 1° return it to the House in which it originated ; with bis objections, would expire on Thursday, the i twenty-fourth of February. Gen. Hamilton on the same day returned an nn i swor, in which ho states: “I give il as my opin- , I inn that you have leu days exclusive of that on | which the bill was delivered to you, and Sundays; j hence, in the present ease, if it is returned on Fri- | j day it will be in lime.” By this construction, which the President adopted, he gained another day fir ' ; deliberation, and it was not until the Sfitli of Feh : ruary that lie signed the hill ; thus affording con- 1 | elusive proof that lie had at last obtained his own consent to sign it not without great and almost in l superable difficulty. Additional light has been re | ccntly shed upon the serious doubts which lie had | on the subject, amounting atone time to a convic tion that it was his duty to withhold his approval from the bill. This is fuiindamong the in&rlutcript I papers oi Mr. Madison, authorized to be purchased lor the use of the Government by an act of the last j session of Congress, and now for the first time ac cessible to the. public. From these papers it appears that President Washington, while ho yet held the bank bill in his hands, actually requested Mr. Mad- \ ison at that time a member of the House of lleprc j sentalives, to prepare the draught of a Veto mes sage for him. Mr. Madison, at liis his request, did prepare tin‘draught of such a message, and sent it to him on the 21st of February, 1791. Acopyofthis original draught, in Mr. Madison’s own hand-wri I ting, was carefully preserved by him, and is among ; the papers lately purchased by Congress. It is I preceeded by a note written on the same sheet, I which isalso in Mr. Madison’s hand writing, and ! is as follows : “February gist, 1701. Copy of a paper mad ■ out ami sent to tlic President at hi.1? request, to he ready iu case 1 his judgment should finally decide against the bill for incorporating a national bank, the bill being then before him.” Among the objections assigned in this paper to the hill, and which were submitted for the consideration of the President, are the following : “I object to the bill, because it is an essential princi ple of the Government that powers not delegated by the constitution cannot be rightfully exorcised ; because the power proposed by the bill to be exercised is not ex pressly delegated; and because 1 cannot satisfy myself that it results from any express power by fair and safe i rules of interpretation.” The weight of the precedent of lln* hank of 17‘)1, and the sanction of the great name of \\ nshiugton which ha? been so often invoked in its support, are ureally woak | ened by the development of these facts. The experi I incut of that bank satisfied the country that it ought not J ■ to he continued, ami at the end of twenty year.? Con ! gross refused to recharter it. It would have been lor- ; 1 tunate for the country, and saved thousands from bank ; rnptcy and ruin, hail our public men of 1.316 resisted the I temporary pressure of the times upon our financial and pecuniary interests, and refused to charter the second bank. Of thi* the country became abundantly satisfied, I and at the close of the twenty years* duration, as in the ! Case of the first bank, il also censed to exist. Under ■ the repeated blows of President Jackson, it reeled and i fell, and a subsequent attempt to charter a similar insti tution was arrested by the Veto of President Tyler. Mr. Madison, in yielding his signature to the charter of 1316, did so upon the ground of thn respect due to precedents; ami. as he subsequently declared, “the Hank of the United States, though on the original ques tion, held to he unconstitutional, received the iixccutivc i signature.” It is probable that neither the Hank of 1701 nor that i of 1316 would have been chartered but for the cinbai rassments of I he Government in its finances, the dc , rangernent of the currency, and the pecuniary pressure which existed — the first the cons -quenco of the war of the Revolution, and the second the consequence of Un war of I31J. Both were resorted to in the delusive hope that they would restore public credit, and afford relief to the Government and to the business of the country. Those of our public men who opposed the whole “A- j merican system” at its commencement, and throughout its progress, foresaw and predicted th.it it Was fraught with incalculable mischiefs, and must result in serious ! injury to (lie best interests of the country. Fora series j of years their wise counsels were unheeded, and the system was established. It was soon apparent '.bat its : practical operation was nn< qual and unjust up >u different ! portions of the country, and upon people engag 'd in dif ferent pursuits. All were equally entitled to tb • favor and protection of the Government. It fostered and el evated the money power, and enriched the favored few by taxing labor, at the expense of man v. Its effect was , to “make the rich richer and the poor poorer.” Its tendency was to create distinctions in society based on wealth, an.l to give to the favored classes undue control and sway in our Government. It was an organized j money power, which resisted th • popular will, and , sought to shape and control the public police. ! Under the pernicious workings of this c •mliin-il sys ; (cm of measures, the country witnessed alternate ea on? j of temporary apparent prosperity ; of Midden and di?as ' Iron? commercial revulsions ; ol uiiprcc -dented fluctua tion of prices, and depression of the great interests of agriculture, navigation, and commerce ; of general pecu niary suffering, and of final bankruptcy of thousands. After a severe struggle of more than a quarter a centu ry, the system was overthrown, j '1 lie hank has been succeeded by a practical system of finance, conducted and controlled solely by the'Gov - . ernnient. I he constitutional currciicv ha? In*cn restor ed : the public credit maintained unimpaired, even in a period of foreign war; and the whole country has be come satisfied that Hanks, National or Slate, arc not necessary a? fiscal agent-of the Government. Revenue duties have taken the place of the protective tariff — ' The distribution of tl-c money derived from the sale of the public lands has been abandoned, and the corrupting system of internal improvements, it i? hoped, ha* been effectually cheeked. It i* not doubted that if thi* tvfiolr (rain of mmMirrt, ’ designed to take wealth from the many and bestow it neon the few, were to prevail, the elfect would he to 1 change the entire character of the Government. One only danger remains. It is the (-eductions of that hraivh of the system which consists in internal improvements, holding out, a* it does, inducements to the p-ople of particular sections and localities toembark the Govern ' mcnt in them without stopping to calculate the inevita ble consequences. Tins branch of the system is so in Innately combined and linked with the others, that as surely us un effect is produced by an adequate cause, if it be resusitated und revived, and lirmly established, it , requires no sagacity to foresee that it will necessarily and speedily draw after it the rc-cstablishuicut of a na tional bank, the revival of the protective tarill'. the dis | tribution ol the laud money, and not only the postpone ment to the distant luture of the pay mcnt ortho present ; national debt, but its annual increase, | _ I entertain the solemn conviction that if the internal improvement branch ol the “American system** be not | liriuly resisted at Ibis time, the whole series of meas- ! urea composing it will be speedily re-established, and . the country be thrown back Iroin its present high state i ol prosperity, which the existing policy has produced, , and be destined again to witness all the evils,coinmer- ; cull revulsions, depression of prices, and pecuniary em barrassment* through w hich we have passed during the last twenty-live yers. I o guard against consequences so ruinous is an object of high national importance, involving, in my judgment the continued prosperity of the counntry. I have I,-It it to he an imperative obligation to with hold ui> constitutional sanction from two bills which had passed the two Houses ol Congress, involving the princi. pie ol the internal improvement branch of the “Ameri can system,” and comticting in their provisions with the In-rv expressed. J li * power, coni ived uiioii tin* I’r sidont l»y ihe con stitution, I have on three ccaions, during my adminis tration id the Executive Hcpurlinctil of the Govern : **iei»|p deemed it my duty to exercise ; and on this last , occasion ol making to Congress an annual communica tion “ol the state ol the Union,” it i* u it d :eiu--d inap propriale to review Ihe principle* and consideration* winch have governed my action. I deem this the more n cossary, because,at ter t lie tape of nearly t>0 years since the adoption ol the constitution, the propriety of the ex ercise ot tins undoiihled constitutional power by the President lias for the lirst time liecu drawn seriously in question by a portion of my fellow-citiz -ns. '1 he constitution provnl -sth.it ‘‘every lull which shall have passed the House of Representatives and Senate shall, before it becomes a law, he presented to the Pres ' ideulol the l oiled States; it he approve, he sliull sign 1 it, but it not, he shall return it, with Ins objections, lo that House in which it shall have originated, who shall J cuter the objections at targe on their journal and pro j cced lo rccunsiih rit.” i The preservation of the constitution from infraction is the President’* highest duty. He is bound lo discharge that duty, ul iv hulevcr h.t/.ird of incurring the displeas ure ol tnuse who may ditler with him in opinion. He , is hound lo discharge it, as well by Ins obligations to the people u ho have clothed him with hi* exalted trust, as by In* oath ol otlice, which lie may not disregard.— Nor are the obligations ol tin; President iu any degree lessened by the prevalence of view* different from his ■ own in one or bom houses of Congress. It is not alone hasty and inconsiderate legislation that he is required to check ; but il at any time Congress shall, after appa rently lull deliberation, resolve on measures wliicu he dcei is subversive ol the constitution, or of the vital in terests ol the country, it is his solemn duty to stand in | the breach and resist them The President is bound to , approve, or disapprove, every bill which passes Con gress and is presented to him for his signature. The 1 ■ constitution makes this his duty, and lie cannot escape ; it it tie would. He has no election. In deciding upon : any bill presented to him, lie must exercise liis own lies! judgment. It lie cannot approve, the constitution coin l mauds him to return the Inn lo tiie House iu which it originated, with Ins objections ; and il lie fail to do this within ten day s, (Sundays excepted,) it shall become a Jaw without his signature, liigul or wrong, lie may be overruled by a vole of two-thirds of eacit House; and, in that event, the bill becomes a law without Ills sanction. It Ins objections be not thus overruled, the j subject is oniy postponed, and is referred io the States aim the people tor llieir consideration aa.l decision.— i he President’s power is negative merely, and not af firmative. ile can enact no law. The only cllect, there fore, ol iiis withholding hi- approval ol a hill passed by Congress is lo sutler the existing laws to remain line bung ed, and the delay occasioned i* only that required lo i enable the Mates ami the people lo consider and act upon «thc subject in the election of public agents who will carry out llieir wishes and instructions. Any at tempt to coerce the President to yield his sanction to measures which he cannot approve would be a violation ol the spirit ot the constitution, palpable and flagrant; and, it .*acse*slul, would break down tin- independence ul tlie executive department, and make the President, elected by the people, and clothed by the constitution with power to deleml llieir rights, the mere instrument ol a majority of Congress. A surrender on his part, of the powers with winch the constitution has invested Ii is otlice, would elfect a practical alteration of that instru ment, without resorting to the prescribed process of amendment. W till the motives or considerations which may induce . Congress to pass any bill the President can have noth- i ing to do. tie must presume them to be as pure as 111* own, and took only to the practical elfect ol llieir measures wlion compared with the constitution or pub lic good. Rut it lias been urged by those who object to the ov- , ercise of this undoubted constitutional power, that it as sails the representative principle and the capacity of , tlie people to govern themselves; that there Is greater safely in a numerous representative body than iu the single Executive created by the constitution, and that the executive veto is the “one-man power,” despotic in its character. To expose the fallacy of tins objection, it is only necessary to consider the Iraine and tru-‘char acter ol our system. Ours is not a consolidated empire, bet a confederate Union. The States, before the adop 1 lion of the constitution, were co-ord.nate, co-equal, and separate independent sovereignties, mid by its adoption they did not lose that character. They clothed Ihe Federal Government with certain powers, and reserv ed all others, including their own sovereignty, lo them selves. They guarded their own rights as States and j the rights ol tlie people by the very limitations which they incorporated into the federal constitution whereby j the different departments ol the General Government were checks tipuu each other. That the majority should govern is a general principle controverted by none; but they must govern according to the constitution, and not 1 according to an undefined and unrestrained discretion, whereby they may oppress the minority. The people ol the United .States are not blind to the tact that they may be temporarily misled, ami that their representatives, legislative and executive, may he mis- I taken or influenced iu their action liy improper in itives. ! They have therefore interposed between themselves ! and the laws which may be passed by their public agents 1 various representations, sueli as assemblies, senates, and ' governors in their several States; a House of Repre sentatives, a Senate, and a 1'resident of the United ! Stales. The people can by their own direct agency make no law ; nor can the House of Representatives im mediately elected by them ; noi can tin-Senate ; nor can l | both together, without tha concurrence of tlie President, ! or a vote ol two-thirds of both Houses. Happily for themselves, tli • people, iu flaming our admirable system of government, were roascious of the infirmities ol their representatives; and, in delegatin'' to them the power of legislation, they have fenced (hem i around with checks, toguard against the ell'cctsof hasty i action, ol error, of e.uiiilniial i >u, and of passible corruo tion. Error, selfishness, and faction have often sought to rend astuider this web ol checks, and subject the Government to the control of fanatic and sinister influ ences; but these elf Tls have o ily satisli.-u the people ol the wisdom of the cheeks which they have imposed, I and of the necessity of preserving them unimpaired. i The true theory of our system is not tog worn by the ; acts or decress ol any oil ■ set ol r -presentatives. The i constitution interposes checks upon all branches of the Government, iu order lo give time lor error to he cor- ' reeled, and delusion to pi** away; hut if the people settle down into a firm convict ion d life rent from that of i llieir representatives, they give elfect to (heir opinion* bv changing their public servants. The checks which the people imposed on llieir public servants in the adop tion ol tin- constitution ure tlie h.-st evidence of then capacity for self-government. They know that the i men whom they elect to public Mutuuis are of like in-, firm, tics nml passion* with t hems elves, and not to be trust - id without being restricted by co-ordinate authorities and constitutional limitations. VVhoth.it has witnessed the legislation of Congress for the ln*t thirty year* will say that he knows of no instance in which measures not de manded by the public good have been carried? Who will deny that iu the Slate Governments, by combina tions ol individuals anti sections, in derogation of the general interest, banks have been chartered, sy stems of internal improvement adopted, and debt* entailed upon tlie people, repressing their growth, mid impairing their energies for years Income. Alter so much experience it e-moot he said that abso lute unchecked power is safe in the hands of any one *et of representatives, or that (In capacity offh • p ople for self-government, which is admitted in ils broadest ex tent. is a conclusive argument to pfovc the prudence, wisdom and integrity ol llieir representatives. Ihe people by the constitution have commanded the President, a*- much a* thev have commanded th*- b-g;* jot i v * • hr.inch of the G ■. •nin.rut, t ex ecu: - thru will. 1 hey have said b> him in the constitution, which th -v require In* shall take a solemn oath to support, that d ( ongres* pa * any loll which he cannot apprive, “lie shall return it to the II >ti<r in which it originated, with his objections.” In withholding from il his approval and signature lie is executing ihe will of the people constitutionally expressed, ns much ;,s theCioagre** tha1 , pa**ed it N’o Gill i* presumed lo he in accordance with the popular will until it shall have passed through all i the branches of the Government required by the consti tution to make it a law. A hill which passes the House of Representatives may he rejected by the Senate; and s > a lull pa*sed by (lie Senate may b • rejected by the Mouse. In each case (lie respective houses oxercift* the Veto power over the other. Congress, and eneI, II.,use of Congress, hold, under the constitution, a check upon the President, and he.' y the power of the qualified veto, a check upon Emigre**. When the President recomin -nds nicaoir.-* to Emigre-*, he avows, in fit,' inov( solemn form, lit* opinions, gives his voice iu their favor, an I pledge*-himself, in advance, to approve them, if passed by Emigre s. If he act* with out due consideration, or ha* been influenced by irnprop er or corrupt m 'lives ; or if. from any oilier cause. Eon gro*s. <r either Hou-c of Congress’, shall differ with him in opinion, the v cxrrei«r ihrir t'rir' up -n In* recom mendations, anil reject them; and there r- no appeal from their decision fust to the people at the ball at box , These are proper checks upon the Executive, wisely interposed by the constitution. None will be found to object to them, or to wish them removed. It is equally important that the constitutional checks of the execu tive upon the legislative branch should be preserved. II a be said that the Representatives in the popular branch of Congress are chosen directly by tbc people, it i ** answered, the people elect the President. Il both Houses represent the (Slates aud the people, so does tbo President. The President represents in the executive department the whole people of the United States, as each member of the h-gisiativc department represents portious of them. 1 he doctrine of restriction upon legislative and cxee utive power, while a well-settled public opinion is ena bled within a reasonable tiino to accomplish its ends, has made our country what it is, and has opened to us a career to glory and happiness to which all other nations have been strangers. In the exercise of the power of the veto, the Presi dent is responsible, not only to an enlightened public opinion, hut to the people of the whole Union, who e Ivoted him, as the representatives in the legislatiro branches, who diller with him in opinion, arc responsi ble to the people of particular States, or districts, who compose their respective constituencies. To deny to the President the exercise of this power would he to repeal that provision of the constitution which confers it upon him. To charge that its exercise unduly con trols the legislative will is to complain of the constitu tion itself. 11 the Presidential veto be objected to upon the ground that it Checks and thwarts the public will, upon the same principle the equality of representation of the (Slates in the Senate should bo stricken out of the con stitution. rile vote of a Senator from Delaware has equal weight in deciding upon the most important meas ure** with the vote of a Senator from New York; aud yet the one represents a State containing, according to tau existing apportionment of Representatives in the Mouse ol Representatives, hut oue-thirty-fourtli part of the population ol the other. IIy the constitutional com position of the Senate a majority of that body from tho smaller States represent less than otic-lourth of the peo I, 01 t,1*r Union. There are thirty States; and under tlu* existing apportionment of representatives, there are two hundred and thirty members in the House of Rep resentatives. Sixteen of the smaller States arc repre sented in that House by but fifty members, and yet tho Senators from these Stales constitute a majority of tho Senate. So that the President may recommend a meas ure to Congress, and it may receive the sanction and approval ol more than three-fourths of the I lou*a of Rep resentatives, anil ol all the Senators from the largo States,containing more than three-fourths of the whelu population ol the United States, and yet the measuro ii u . aK'd »y l,ltJ votes ol the Senators from th«» smaller States. None, it is presumed, can be found ready to change the organization of the Senate on this account, or to strike that body practically out of exist - i ccr by requiring that its aelion shall be conform d to the will ol the uurc numerous branch. I'poll the same principle that the veto of the Presi dent should be practically abolished, the power of the , ,c. . fvmdelit to give the casting vote upon an equal division ol the Senate should he abolished also. The \ ice President exercises the veto power as effectually by rejecting a bill by his casting vote as the President does by refusing to approve amt sign it. This power has been exercised by the Vice President in a few in stances, the most imporlat of which teas the rejection of tlie bill to rc-cliartcr the Hank of llic United States in I'll. It in ay happen that a bill may bo passed bv a largo majority ol tin* lloiiiuof Representatives, anil may be supported by the Senators from the larger States, ami the Vice President may reject it by giving his volo with the Senators from the smaller .Slates, and yet none, it is presumed, are prepared to deny to him tile exer cise ol this power under the constitution. Hut it is, in point offset, untrue that an act passed by Congress is conclusive evidence that it is an emanation ol the popular will. A majority of tho whole number elected to each House of Congress constitutes a quorum, and a majority of that quorum is competent to pass laws. Il might happen that a quorum of the House of Repre sentatives, consisting ol a single member more than half of the whole number elected to that House, might pass a hill by a majority ol a single vote, and in that case a fraction more than one fourth of tho people of the Uni ted States would be represented by those who voted for it. It might happen that the same lull might be passed by a majority of one of a quorum of the Senate, compos ed of Senators from the fitteen smaller States, and a sin gle Senator from a sixteenth State, and if the Senators voting for it happened to be from the eight of the small est o! these Stales, it would be passed by the votes of Senators from States having but fourteen Representa tives in the House of Representatives, and containing less than one-sixteenth of the whole population cf tho Uniscd States. This extreme case is stated to illustrate the fact that llu* mere passage ot a bill by- Congress is no conclusive evidence that those who passed it represent the majority of the people of the United States, or truly reflect their will. If such an extreme case is not likely to happen, cases that approximate it are of constant occurrence.— It is believed that not a single law lias been passed) since the adoption of the constitution, upon which tho members elected to both Houses have been present and voted. Many Of the most important acts which have passed Congress have been carried by a close vote in thin Houses. Many instances of this might lie given._ Indeed, our experience proves that many of the most important acts of Congress are postponed to the last days, and often the last hours of a session, when they are disposed of in haste, and by Houses but little ex ceeding the number necessary to form a quorum. Resides, in most of the States the members of the House of Representatives are chosen by pluralities, and not by majorities of all the voters in their respective districts; and it may happen that n majority of that House may be returned by a less aggregate vote of tile people than that received by the minority. (COXCLUIlEtl IN EXTRA.) SPECTATOR, —-•sua nr ss — WEDNESDAY, DECEMBER 13, 1848. THE MESSAGES. 'Vo lay before our readers the messages of Pres ident Polk and Governor Smith. We have no room lor comment on these voluminous documents, at present, but will recur to them again. Deeming it better to rid ourselves at once, of that which is exceedingly troublesome, and vet ex pccted by our patrons, we insert both, to the en tire exclusion of other matter. By adopting this plan \vc hope to render our next what, to tlie mass ot our readers, the present certainly is not—an interesting paper. CONGRESS. Both Houses of Congress met on Monday, thA 4th Inst., and were organized at 12 M. In ttm Senate, Mr. Douglass gave notice that he would introduce bills to organise the Territories of Nebras ka anti Minesota, for the admission of California into the Union, &e. Mr. Cameron gave notice that ho would introduce a Bill to provide for the la king of the next census. On Teusday, the Prr sid.eit’s message was received, which occupied two hours and a half in the reading. In the House, nothing of special interest has bend transacted. On the 8th, Mr. Goggit gave notice of a motion for leave to introduce a hill to reduce the rates of postage. On the 7th both bodies adjour ned until Monday. I he 3chale is at present composed of 21 Whig* and :;G Democrats : the I louse, of 110 Whigs and !!•» Democrats and Independents—one seat in thrt *h»»se vacant by the death of Mr. Sims of S Carolina, ' IRGINIA LEGISLATURE. I lor »b ok Dr.M’ o.tTfcs,} Monday, December 4, 1848: l' i '* ^ - M-. Mr. Clendetlin, of Mason arid Jack s<11 cai^'i the I louso to order, and moved that Geo W ytho Miinfbrd ho apjioinfrd CJetk, which was ! done hy a onaoiinous vote. Mr. Stovall then nominated Henry L. Hopkins, of 1 owhatnn. as Speaker, who was elected Unani mously. Daniel Ward was elected Sergeant at \nti^. Rolien Bradley 1st Door keeper, William Chandlers 2d Door keeper. I ! ** “«I*ATb.— rhn Senate was organized hy the re* election of Dr. U, . P. Scott, of Greensville, as J Speaker. L W. Allen was elected Sergeant at Arms, Thomas L. .Np|«K>n Kt, and Julius Martin 2d j door keeper.