The Sun.
London, England, 1840-01-16 00:00:00

PRICE sd.

were appropriated to the use of the colony, then, and
for a short time after, under the dominion of Holland.
The death of the late Sultan has produced no altera-
tion in our relations with Turkey. Our newly ap-
pointed Minister Resident has reached Constantinople,
and I have received assurances from the present Ruler
that the obligations of our treaty, and those of friend-
ship, will he fulfilled by himself in the same spirit that
actuated his illustrious father.
I regret to be obliged to inform you that no conven-
tion for the settlement of the claims of our citizens upon
Mexico has been ratified by the Government of that
country. The first convention formed for that purpose
was not presented by the President of Mexico for the
approbation of its Congress, from the belief that the
King of Prussia, the arbitrator in case of disagreement
in the joint commission to be appointed by the United.
States and Mexico, would not consent to take upon him-
self that friendly office. Although not entirely satisfied
with the course pursued by Mexico, I felt no hesitation
in receiving in the most conciliatory spirit the explana-
tion offered, and also cheerfully consented to a new con-
vention, in order to arrange the payments proposed to
be made to our citizens, in a manner wilted', while
equally just to them, was deemed less onerous and in-
coneenient to the Mexican Government. Relying con-
fidently upon the intentions of that Government, Mr.
Elias was directed to repair to Mexico, and diplomatic
intercourse has been resumed between the two coun-
tries. The new convention has, he informs us, been
recently submitted to the President of that Republic to
this Congress, under circumstances which promises
speedy ratification ; a result which I cannot allow my-
self to doubt.
Instructions have been given to the Commissioner of
the United States under our convention with Texas,
for the demarcation of the line which separates us from
that Republic. The Commissioners of both Govern-
ment met ia New Orleans in August last. The joint
Commission was organised, and adjourned to convene
at the same place on the 12th of October. It is pre-
sumed to be now in the performance of its duties. •
The new Government of Texas has shown its desire
to cultivate friendly relations with us, by a prompt re-
paration for in:furies complained of in the case of two
vessels of the United States. •
With Central America a convention has been con-
cluded for the renewal of its former treaty with the
United States. This was not ratified before the depar-
ture of our late Charge d'Affaires from that country,
and the copy ef it brought by him was not received be-
fore the adjournment of the Senate at the last session.
In the mean while, the period limited for the exchange
of ratifications having expired, I deemed it expedient,
in consequence of the death of the Charge d'Affaires,
to send a special agent to Central America, to close the
affairs of our mission there, and to arrange with the
Government an extension of the time for the exchange
of ratifications.
The Commission created by the States which for-
merly composed the Republic of Colombia, for adjust-
ing the claims against that Government, has, by a very
unexpected construction of the treaty under which it
acts, decided that no provision was made for those
claims of citizens of the United States which arose
from captures by Colombian privateers, and were ad-
judged against the claimants in the judicial tribunals.
This decision will compel the United States to apply
to the several Governments formerly united for redress.
With all these—New Grenada, Venezuela, and Ecuador
—a perfectly good understanding exists. Our treaty with
Venezuela is faithfully carried into execution, and that
country, in the enjoyment of tranquillity, is gradually
advancing in prosperity under the guidance of its pre-
sent distinguished President, General Paez. With
Ecuador, a liberal commercial convention has lately
boen concluded, which will be transmitted to the Senate
at an early day.
With the great American Empire of Brazil our re-
latioos continue unchanged, as does our friendly inter-
course with the other Governments of South America
—the Argentine Republic, and the Republics of
Uruguay, Chili, Peru, and Bolivia. The dissolution
of the Peru-Bolivian Confederation may occasion some
temporary inconvenience to our citizens in that quarter,
but the obligations on' the new Governments which
have arisen out of that confederation to observe its
treaty stipulations, will, no doubt, be soon understood,
and it is presumed no indisposition will exist to fulfil
those which it contracted with the United States.
The financial operations of the Government during
the present year have, I am happy to say, been very
successful. The difficulties under which the Treasury
Department has laboured, from known defects in the
existing laws relative to the safe keeping of the public
moneys, aggravated by the suspension of specie pay.
ments by several of the banks holding public deposits,
or indebted to public officers for notes received in
payment of pUblic dues, have been surmounted to a
very gratifying extent. The large current expendi-
tures have been punctually met, and the faith of the
Government in all its pecuniary concerns has been
scrupulously maintained.
The nineteen millions of Treasury notes authorized
by the Act of Congress of 1837, and the modifications
thereof, with a view to the indulgence of merchants
on their duty bonds, and of the deposit banks in the
payment of public moneys held by them, have been so
punctually redeemed as to leave less than the original
ten millions outstanding at any one time, and the
whole amount unredeemed now falls short of three
millions. Of these the chief portion is not due till
next year, and the whole would have been already
extinguished eould the Treasury hay° realized the
payments dad to it from the banks. If those clue from
them during the next year shall be punctually made,
and if Congress shall keep the appropriations within
the estimates, there is every reason to believe that all
the outstanding Treasury notes can be redeemed, and
the ordinary expenses defrayed, without imposing on
the people any additional burden either of leans or in-
creased taxes.
To avoid this, and to keep the expenditures within
reasonable bounds, is a duty, second only in importance
to the preservation of our national character, and the
protection of our citizens in their civil and political
rights. The creation, in time of peace, of a debt likely
to become permanent, is an evil for which there is no
equivalent. The rapidity with which many of the
States are apparently approaching to this condition ad-
tnonishes us of our own duties in a manner too im-
pressive to be disregarded. One, not the least impor-
tant, is to keep the Federal Government always in a con-
dition to discharge, with ease and vigour, its highest
functions, should their exercise be required by any sud-
den conjuncture of public affairs —a condition to which
we are always exposed, and which may occur when it is
least expected. To this end, it is indispensable that its
finances should be untrammelled, and its resources, as
far as practicable, unincurnbered. No circumstance
could present greater obstacles to the accomplishment
of these vitally important objects than the creation of an
onerous national debt. Our ou n experience, and also
that of other nations, have demonstrated the unavoid-
able and fearful rapidity with which a public debt is in-
creased, when the Government has once surrendered
itself to the ruinous practice of supplying its supposed
necessities by new loans. The struggle, therefore, on
our part, to be successful, must bo made at the
threshold. To make our efforts effective, severe eco-
nomy is necessary. This is the surest provision for the
national welfare ; and it is, at the same time, the best
preservative of the principles on which our institutions
rest. Simplicity and economy in the, affairs of State
have never failed to chasten and invigorate republican
principles, while these have been as surely subverted by
national prodigality, under whatever specious pretexts
it may have been introduced or foster ed.
These considerations cannot be lost upon a wove
who have never been inattentive to the effect of their
policy upon the institutions they have created for them-
selves; but at the present motnent their force is aug-
mented by the necessity which a decreasing revenue
must impose. The check lately given to importations
of articles subject to duties, the derangements in the
operations of internal trade, and especially the reduc-
tion gradually, taking place in our tariff of duties, all
tend materially to lessen our receipts ; indeed, it is pro-
bable that the diminution resulting from the last cause
alone will not fall short of five millions of dollars in the
year 1842, as the final reductions of all duties to 20
,per cent. then takes effect. The whole revenue then
accruing from the customs, and from the sales of public
lands, if not more, will undoubtedly be wanted to de-
fray the necessary expenses of the Government, under
the most prudent administration of its affairs. These
are circumstances 'that impose the necessity of rigid
economy, an'l require its prompt and constant exercise.
With the Legislature rest the power and duty of so
adjusting the public expenditure as to promote this
end. By the provisions of the Constitution it is only in
consequence of appropriations made by law that money
can be draws from the Treasury ; no instance has oc-
curred since the establishment of the Government in
which the executive. though a component part of the le-
gislative power, has interposed an objection to the Appr-
opriation Bill on the sole ground of its extravagance.
His duty in this respect has been coneidered fulfilled by
requesting such appropriations only as the public service
may be reasonably expected to require. In the present
earnest direction of the public mind towards this sub-
ject, both the executive and Legislature have evidence
of the strict responsiblity to which they will be held ;
and while I am conscious of my own anxious efforts to
perform with fidelity this portion of my public func-
tions, it is. a satisfaction 'to me to be able to count on a
cordial co-operation` front you.
At the time ! entered upon my present duties, our
tnhdos thee °'i
trust ac_
disbursement--without including
a
count of the public debt, the st.offic