The Rhode-Island American, and general advertiser — Providence [R.I.], 1810-04-03 00:00:00, page 2

V » -------
Maynt*, imd his Excellency s gtcreiarj
• M P ; whi* «,«w -
„ r —.rnmeMf th* *Wrt»"
,h * A “ ,,U "
All expectations (waDejer
had iftiv) of iw 10 • neKotf M,on * re ‘
v« un«ienit.iwA at * n end> Fr>nc< wlrt *2J
*ce d« to the terms *hich we suggested
«« the necessary preliminary to any aego
tfathM, viz that ** ,houH
concert with ner allra. Ferdinand VII. and
thtpQueeo of PoftQK* l -.
It is reported that Bonaparte hat writ
ten a tetter to foe King on the subject of
peace, ia w »ch he expreroes a with, that
Jis H.jeity will’deign to remm an answer
from himself. With thia wish, kto added,
Ministers here advised his Majesty to
j.««, «.
American cargoes in French
from sequestration, were
of being disposed of at the in
voice price ; when, in consequence of in
formation from General Armstrong, tae
sales were suspended, and the loss that
would otherwise arise to the American
owners avoided.. A few days after this
communication from Mr. Armstrong, the
order for extending the list of articles of
export and import appeared.
, ried with safety ? Can any other resources
w . except taxes and- loans be relied on for
Immediate revenue ?
I have the honour to be with respect,
your meet obedient servant,
• JOHN W. EPPES.
Aliiit GalLatiw, Ety. '
Secretary <fthe TVeoewry.
There are 'no further accounts from
Anhirtat. and we-are enable to state wheth- (
wr the Mil for enabling the President to (
send away offending foreign ministers has
passed the House of Congress, «*, if it has,
whether it has been acted upon by sending
away Mr. Jackson.
The path we have to pursue with re
spect to America to clear and strait. Sh«
io evidently in a violent passion, and lik*
all persons who indulge such passions, acts
Without Judgement. But though she hn*
lost her temper, it to pot necessary that w*
should loot ours. We view her “ more in
pity than anger.” Were the two countries
in a stats of equality with respect to powers
and resources, there might.br a necessity
for resisting the indignity offered to us—but
Where there is tn evident an inequality,
Where the one has so vast a superiority over
the other, our forbearance cannot possibly
be imputed to fear oc meanne*s.~She may
send away Mr. Jackson, but wMbsll not
declare war against her. If to
have no further intercourse or negotiation
with sis, let her act accordingly ! she is at
perfect liberty so to do.—We can make
no farther offers to her J the first steps, th*
first proposals must now come from her. It
was absurd in her to conceite herself un
der no obligation, upon the rejection of
whst she terms “ inadmissible Conditions,”
to make any in return. • We could not suf
fer her to maintain the state of a Judge,
authorised to hear and determine between
parties, and to consider herself as holding
the \b'lance of powers between the two
great belligerents. She conceives herself
to have received an injury—and wyjome
forward and offer reparation. If the off; i
be not deemed adequate to the injury ms
talned it is incumbent on htr to poiut out
where it is deficient, and to declare what
additional degree of concession is necessa
ry to make np the complement of satisfac
tion. This she seems determined not to do,
but declares her willingness to hear what
we have further to offer, still reserving to
herself the privilege of rejection, until we
have come up to the unknown standard
’ which she keeps concealed. There is no
true dignity in this reserve, and though she
may consider it a very profound policy, we
•re.much mistaken if Mr. Albert Gallatin
will not convince her that it is likely to be
ruinous to herself .
[Fmm the N-tional Intelligencer of March 23.]
On Wednesday last, Mr. Eppes, from
the Committee of Ways and Meant, laid
before the House the following documenta,
Which were ordered to be printed.
Sib,
Haring stated in your several reporta
that loans would constitute the principal
resource of the United States for defraying
extraordinary expenses, the Committee of
Ways and Means have instructed me to
request, that you will report your opinion
as to the more eligible mode of obtaining
money by loan—keeping in view both the
facility of borrowing sums commensurate
with the exigencies of the United States
and the ultimate extinguishment of the
debt contracted.
You have already given your opinion in
favour of an Increase ot duties on impor-
tation. To what extent can this be car-
TiMiUtt DarAXTMBWT,
February 26th, 1810,
Sib,
I have the honour to submit the follow
ing nbservatlhus in answer to the sever I
objecs of your inquiry embraced by your
letter of the Bth ultimo. The amount of
Congee*#.
January 8, 1810.
Aorte«l “"t fr ;
lined, it topoefyen M thia time practi
cable to state with pnrehtoo the sum which
may be wanted on loan for the service of
this year. And in relation to en«iii<g
years, it would be premature to lay dowl
any general rules respecting the most eligi
ble mode of borrowing sums of money
commensurate with the exigencies of thr
United States in case of war. It is thete
fore thought sufficient for the present to
pointawt some of the most obvious means
at effecting loans generally ; leaving ft a
subject of subsequent consideration to de
cide according to existing circumstances
on the most eligible mode, and on the ar
rangement of details.
The inquiries of the Committee of Ways
and Means apply to three following
points:’ Ist. What isth> most eligible
mode of obtaining money by loans, keep
ing in view both the facility of borrowing
sums commensurate *hh the exigencies
of the United States, and the ultimate ex
tinguishment of the debt contracted ?
Sdly. To what extent can in increase of
duties on importation be carried W ith safe
ty ? Sdly. Can any other resources besides
taxes and loans be relied on for immediate
revenue?
Ist. The commissioners of the sinking
fund Will, out of the annual appropriation
of eight millions of dollars for the payment
of the debt, reimburse, in 1810, the resi
due of the exchanged six per cent, stock,
amounting to 3.750,000 dollars, and In
1811, the whole of the converted six pet
cent, stock, amounting to 1,860,000 dol-
those two species of stock would consent to
rp loan the amount, provided it was irre
deemable for a few years.
lars. It is probable that the owners of
2dly. It has already been stated in the
annual report of November sth, 1807, re
ferred to in that ot this year, ” that the
several banks of the States might
find it convenient, as OMiminished com
merce of the country require less
capital, to loan to government a consider
able portion of their capital stock, then
computed at about forty millions of dol
lars.” Such temporary loans can be ob
tained only to • limited amount; but they
are convenient in two respects: Ist. They
do not diminish the facility of obtaining
other loans from individuals, inasmuch as
they do not increase the amount of stock
at market: gdty- Being redeemable at
will, and in any sums which may suit the
convenience of government, interest is
paid only as long as the money is wanted;
and the extinguishment of the debt con
tracted is rendered more easy and certain.
3dly. Loans may be obtained from indi
viduals to an extent commeneurate with
the national capital, and limited by the
existing demand for that capital for pri
vate purposes. The terms must vary ac
cording to circumstances, always giving the
preference to the most simple form that
can effect the object. A portion of the pub
lick lands may perhaps, if necessary, either
as a premium or by giving an option to sub
scribers, be advantageously applied in fa-
cilitating loans or improving their terms.
4th. Treasury notes, bearing interest
and payable to order, one year after date,
may be annually issued to a moderate
amount, and be put in circulation both
through the medium of banks, and in pay
ment of supplies. A portion would be ab
sorbed during the year by the payment of
publick lands and revenue bonds, and the
redemption of the residue be provided for
by the l«Ai of the ensuing year. This an
nual anticipation of the revenue, though
liable to abuse, may, if kept within strict
bound*, facilitate both the collection of the,
revenue and the loans themselves.
In relation to the extinguishment of the
debt contracted, those who borrow can do
nothing more than to provide and pledge
funds sufficient for that object, and to give
such a form to the debt as may not impede
its redemption. To render it irredeema
ble for no longer time than is necessary,
in order to obtain the money; to make it
reimburseable by instalments at fixed pe
riods ; never to create, for the sake of di
minishing the annual interest, a greater |
hominal amount of stock than the sum
acttraHy borrowed, and above all never to
incur expenses which are not actually ne
cessary for the defence or welfare of the
country, are principally essenti/l for a na
tion which does not contemplate a system
of perpetual and increasing debt. But for
its actual reimbursement we must princi
pally depend on the return of prosperous
circumstances, on the growing resources
of the country, and on the wisdom of our
successors. The artificial provisions of a
sinking fund may always be rendered lit
efficient by the necessities or extravagance
of government. The real amount of a na
tional debt cannot be diminished unless
the aggregate of revenue including the
funds assigned to the sinking fond, and ex
clusively of new leans, exceeds the aggre
' gate of expenditures, other than those for
the payment of the principal of the debt.—
Favourable circumstances, ,and a rigid
economy in the current expenses have ena*
bled the United States to reimburse daring
the last eight years, one half of the debt
created by the rcvoJutitmsry war, and
during some of the ensuing years.
Lojxs. *
Similar ckctftostajtees, »• kdhertnee
to the same principle* <ilt be requisite to'
aeture the actaM reimbursement of the
i. kt which itmay now’ be necessary io
But that government will pos
sess. resources amply seffiTciete for that
>bjcct, cannot be dobbted. The proceeds
•f the publick lands would atone, slowly
perhaps, but certainly extinguish A much
greater debt than the United States have
it now in their power to create. And it to
sufficiently aseertatoed that the national
wealth of the Unfted States, and therefore
the means of raising revenue increase in a
ratio still more rapM than their popula
tion, a population which almost doubles
every twenty years.
These considerations, connected with
others stated at large hi the annual reports
of November 1807, and December 1808,
have produced a conviction that loans
might without danger be resorted to as the
principal resources for suppling a war.
Permit mp at the same time to observe,
(hat the suggestion -has been confined to
I that object atone, and that, excepting the
case of war, either immediate or contem
plated, k appears consistent with sound
policy to raise during the year the means
► of defraying all foe national expenses, bor
rowlng no fargfi* font than the amount of
principal of old debt paid during the year.
Fhe propriety for providing even in time
of war, a revenue equal to the annual ex
penses on a peace establishment, the in-
I terest of the existing debt, and that on foe
loans which may be raised, has also been
suggested in former reports.
f bttUU or Dufits.
On that subject, but little can be added
to the opinions expressed on former occa
sions. I still think that this source of reve-
I nuc to in the United States, and at this
time the most productive, the easiest to
I collect, the least burtheosome to the great
mass of the people ; and that the duties on
importation genefolly may, in case of war,
be doubled without inconvenience or dan-
ger.
In time of peace, and particularly under
existing circumstances, habits of smug
glfog, might be promoted by so great an
increase. But the precise rate which may
with safety be adopted can only be a mat-
ter of opinion to be tested by experience—
I would not hesitate however to mention
an additional duty of five per cent, on mer
chandise paying ad valorem duties, and an
increase of 33 1-3. per cent, on the existing
duties on all other articles, as attended
with very little danger, and preferable to
any other new source of taxation. A re
newal of the duty, on salt, which produced
nix hundred thousand dollars a year, may
be exceptionable to other respects, but on
account of the bulk of the article, is liable
to no objection in the present view of the
subject* '*
it was stated hi the annual report of
December last, that an increase of duties,
would not, on account of the terms of
credit allowed for the payment of duties
supersede the necessity of a loan for the
service ot this year. The amount of that
loan might of course be diminished, W no
credit, or a credit of only sixty days was
allowed for the payment of the proposed
additional duties.
Puslick Lauds.
These constitute the only great national I
resource exclusively of loans and taxes.—
They have already been mentioned as
forming a fund for the ultimate extinguish
ment of the public! debt; and the possi
bility of their being used as a means of fa- I
cilitating loans, has been suggested. A I
portion might also be usefully applied as n I
bounty to officers and soldiers whenever it I
may become necessary to raise a consider
able force. But as an object of immediate
revenue, I much doubt whether this can
be materially increased without a radical I
change in the present system.
Not less than ten land-offices are now in I
full operation, offering a great choice of
good lands, situated in various climates,
and suited to the habits of the citisens ot
every portion of the Union. They are soln
at the rate of two dollars an acre, or rath
er at one dollar and sixty-four cents. It
paid for at the time of purchase, and in
of one hundred and sixty acres. As
uch is sold as there is actual demand foi
tend to similar situations at that prifce—
The aales are however, almost exclusively
confined to those who are, or intend to be
come actual settlers, and all the money
which can be raised by that description of
purchasers, is annually paid to the United
States. In order to increase immediately
the amount of sales, a different capital from
the; which has heretofore been applied to
that object, the capital of persons who will
purchase for the purpose of selling again
with a profit, must be brought into action.
But it is evident that no person will pur
chase land at the present price as an <fo
ject'of speculation, whilst the United States
continue to sell at the same price in small
tracts.
To effect the proposed object, it would
be necessary not only to reduce the price,
but to make a difference between that of
lands sold in large tracts, and that ask-,
ed for in small tracts, sufficient to en
courage purchases on an extensive scale.
That alteration might produce an addition
al revenue, but appears to me extremely
iiyurious in other respects. The present
uyjtcm of sales has been Med. aid fowm
he expectations of the Legislature. A
gradual increase must, notwithstanding
some temporary necessarily
take place. On that I would rely; nor
wouMl venture to suggest any other change
than that already proposed on a former oc
casion, a moderate and general reduction
of prices, discontinuing at the same time
all sales on credit, but continuing to sell at
the same rate large or small tracts of land.
I have the honour to be, veryjpespectfal
ly. Sir, your obedient servant, A *•
ALBERT GALLATIN.
Hen. Joux W. Errxs, Chairman '
of the Committee of ways and
HOUSE OF REPRESENTATIVES,
FainaV/ Mabcm 23.
Sundry reports an private petitions were
made and referred. .
Mr. Quincy from the committee to whom
was, referred a resolution on the subject,
reported a bill providing for the further ac
countability of those entrusted with the
pubHck monies. Referred to a committee
of the whole on Monday.
Mr. Newton from the Committee of Com
merce and Manufactures, reported a bill
allowing drawback on goods* wares and
merchandise transported by land from Bos
ton to Newport, or from Newport to Bos
ton. Referred to a Committee of the
Whole on Monday.
The unfinished business of yesterday was
then resumed—the botture bill. Mr. Bibb’s
motion for striking out still under consid
eration.
Mr. Sheffey and Mr. W. Alston took oc
casion to give each other a rootling. "1 hey
appeared to be more aealous to make each
other feel, than to promote the business be
fore the House. They were both called to
order by the Speaker. ,
After considerable debate Mr. Dawson
moved to postpone the further considera
tion of the bill until Monday next. The
motion prevailed. On motion of Mr Key,
the several amendments ffhich had been
proposed were ordered to be printed.
The House, on motion of Mr. Cook went
into Committee of the Whole on the bill for
the relief of Gideon Barney. Mr. Desha in
the Chair.
A long debate ensued, when the bill was
reported to the House, and ordered to be
engrossed for a third reading. Adjourned.
Satubday, March 24.
The business before the House the great
est part of this day has been of a private
and local nature. The moYhing was taken
up in reading sundry reports from the Com
mittee of Claims. Several of these reports
related to petitions for fiayment fbr dead
hortet! They* were laid on the table.
The Indian Treaty bill was read a third
time and passed. .. -
The Sill for the relief of Captain Barney
moans.
was also read, and passed after a very long
debate.
The House went into Committee of the
Whole on the Pension bill—Mr. Macon in I ’
the Chair. The bill was reported to the I
House, and laid on the table for further
amendments.
On motion of Mr. Lyon the House re
solved itself into Committee of the Whole
. >n the bill from the Senate, making an ap
propriation for trying Torpedoes.
i Mr. Livermore said he supposed thir I
Torpedo system was to be substituted for I
non-intercourse, if this was the case Ik
should withdraw his opposition to it, as h< I
should think five thousand dollars well lam
I ait, if it could relieve the nation from that
I destructive measure.
Mr. Quincy said that since the Senate
had thought this systt m worthy of a trial,
I he wished it might have a fair and effectual I
I trial. He therefore moved to amend the I
I hill by a new section, which would author
I ise the Secretary of the Navy to appoint
I 'hree Captains of the Navy to prepare a
I hip for Mr. Fulton to operate upon, and
I io use such opposition to the experiments,
I md introduce such obstacles as might be I
| expected in a state of hostilities.
Sie question on this motion was lost.
r. Lyon "moved an amendment which
I directed the Secretary of the Navy to report
I the result of the experiments to this House-1
[ This amendment was adopted.
I Mr. Hale moved to imend by iuthor- I
I iting the Secretary of the Navy to take on.l
I board a crew to defend the vessel to be ope-
I rated upon, provided such crew should vo- I
| lunteer their services. This amendment
I was lost. |
The.bill was reported to the House as
lt was immediately taken up.
I Mr. Qoincy renewed his amendment which
I he proposed in Committee of the Whole.— I
The question was taken by ayes and noes
and loot—ayes <5, noes 58.
I The bill was ordered to a third reading
this day. It was immediately read.
Mr. Dana rose to speak on the subject,
but before he had finished a motion was
made for adjournment, which prevailed.
I I The bill approptiates 8 5000 to the 7br
| fiedo experiment!'.
’• 2&P d>* jßalta.,
NEW-YOkK, Wrah 29.
• I labttkbs from Washington state, that
’ I the passing of Macon's bill by the House is
i I very improbable, nt least in Its present
shape.
for the drrival of ths Jfon Adams frigate
from Franca, before the non intercourse •
system to abandoned.—And Rif also said,
that Mr. Armstrong to recalled from Pa- ,
rto. and is expected to return in the John*
Adams. *
MttTIOXJL BAXX..
Mr. Bayard’s bill, now before the Se
nate, enacts that a National Bank shall be
established at . Philadelphia, with a capital
of twenty millions of dollars, divided into
fifty thousand shares of four hundred dol
lars each; and thdt subscriptions for share* v
be opened in the different states on the Ist .
day of Ocvber next The Bank is to be
chartered for 40 years. There are to be
25 directors. Ip voting for directors, stock- I
holders actually resident in the United z I
States, and node other, may vote by proxy. I
The corporation to to be prohibited from |
purchasing any publick debt whatsoever. I
Qffices may be established whenever the
directors may see fit, for the purpose of
discount and deposit only. The 7th section
enumerates the places at which offices •
may |m established in the United States ;
the Bmneh Bank at New-York, to to have
a capital of 700,000 dollars. The United
States reserves the right of subscribing for
fourmillioes; which sem the Bank if to
loan them for 10 years The legislatures
of the several states have also a right to
subscribe to an amount not exceeding six
millions, to be apportioned am<mg them.—-
The 13th and list section of the bill en
acts, “ That the Bank herein provided for,
shall take effect and be established on the
.4th day of March next; and that no other
branch shall be established by any future
law of the .United States during the con
tinuance of the corporation hereby cre
ated ; for which the faith of the United
States is hereby pledged.
HIGHLY IMPORTAMT.
When the Spanish Minister presented
his ciedentials to the government of th*
United States, and was rejected witha full
knowledge that he was authorized to offer
Eight Millions of Dollars as compensation
for spoliations committed by Spanish ships
under French influence on American com
merce, and also to settle the definitive
boundaries of Louisiana, the disputes re
specting which had once before nearly in
volved us in a war with Spain, the people
were astonished that such proposals should
be spurned in a contemptuous manner.—
Eight Millions of Dollars in our^ 4 Ex
hausted-Treasury” would have been •
pretty thing. But our wise rulers thought
otherwise. What will the people now say,
when they find that the Spanish govern
ment of Mexico, which adjoins Louisiana*
would not only have cordially joined to ful
fil this amicable arrangement in its fall- #
est extent, but that now, considering th*
rejection as a hostile act, they afn potting
their frontiers in a state of defence. Should
wg have a Spanish war on the heels of our
other national calamities, great will be the
reopoonibillty obthose who have invited it.
I In such a case what would become of Lou
isiana, for which we have paid Fifteen
Millions ? These things are of too serious a '
nature to be trifled with.-— Tree. Journal.
Extract aj a letter from a gentleman high
in office in Mexico, to hie friend in Phi
ladelphia, dated 28 th December, 1809,
received by the way of the Havana.
“ The moment his Excellency the Vice
roy received the despatch from Don Lui*
le Onis, announcing that the government
of the United States bad refused to ac
knowledge film as envoy extraordinary
nnd minister plenipotentiary of our Catho
lick Monarch Ferdinand VII. he adopted
every measure which prudence dictated
on the occasion, ordering at the same time
the greatest vigilance on our frontiers and
all along our extensive coasts. Thia un
expected event caused much indignation
amnng the loyal Mexicans, who hitherto
had flattered themselves that the United
States would sympathise with the Spaw
| iards io their present calamity, and re
ciprocate that friendship and assistance
they so liberally offered the Americans
during their struggle for liberty and inde
pendence ; but in this hope they now find
I themselves disappointed, aad the offset*
1 thereby produced in the publick mind, la
by no means favourable towards the Uni-
Il ted States.”
Qn the receipt of Don Luis d*C nis’s let
ter the Viceroy convened the council, to
gether whh the three Fiscals, (or Attor
ney-Generals,) and laid befoce them said
despatch requesting their opinion oh the
subject of its contents, which they deliver
ed unanimously in the following words, on
the 23d instant:
•• The members assembled in the extra
ordinary council convened this day, having
taken into consideration the copy of the
letter addressed to your Excellency by Don
Luis de Onis, which your Exigency has
laid before them, are of unanimMs opinion,
and beg leave to inform youf Excellency.
, that in the first place he ought to recog
nise Don Lais de Onia, as minister plenipo
tentiary and envoy extraordinary, of out
Lord the King Don Ferdinand ViL and fo
bis name of the Supreme Central Junta,
near the United States of America. 2dly.
That should the United States, contrary to
every expectnticsi and with, admit a plenj-