The Sun.
London, England, 1841-06-23 00:00:00

RAILWAY SUN

IS AT LENGTH COMPLETED,
AND WILL SHORTLY BE

PUBLISHED.

TO CORRESONDENTS.
The paper of "A Northumbrian" is left for him in the office.

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LONDON:
WEDNESDAY, JUNE 23, 1841.

THE PRESIDENT'S

MESSA GE•

We have received by express from Liverpool
New York papers of the 2d inst., with the PRE-
SIDENT'S Message, delivered at Congress at Wash-
ington on the Ist inst. These papers were
brought by the South American, Captain
BAILEY, which made the passage from New
York to Liverpool in 20 days. The late hour
at which the PRESIDENT'S Message has reached
us renders any lengthened comment upon it im-
possible. It will be observed that the new PRE-
SIDENT neither recommends nor opposps a Na-
tional Bank—the great object of conten-
tion among all parties in the United
States. In condemning the Sub-Treasury
scheme of Presidents JACKSON and VAN BUREN,
and recommending the adoption of a substitute,
he may be supposed to indirectly advocate the
necessity of a bank, as no other substitute for the
metallic currency system has ever been mooted.
The proceeds arising from the sale of the public
lands, he is for distributing among the several
States of the Union.'

President TYLER is manifestly no advocate for
the assumption, on the part of the Executive, of
the initiative in measures of legislation. Con-
gress he regards as competent to indicate abuses
and supply remedies. His Message gave
general satisfaction at New York, if we may
judge from the tone of the public journals. The
Journal of Commerce, an influential mercan-
tile paper, of the 2d instant, says—" We
have read. the PRESIDENT'S Message with
unfeigacifl satisfaction. It breathes a lofty
tone of i patriotism, and freedom from party
restrainttcl. iviiich is' very cheering." Most
of the"P•n 445. Vupers spe
• of -it withe4ual satis-
facti't in-' akUnited 8-Wes the voice
of
the public press is the voice of the peOple.- The. Govbrnment of m °ate Video, by a decree

dated the 11th of February, authorises the

seizure of all vessels found, ten days after that
date, sailing under the Buenos Ayrean flag, and
declares their cargoes good prizes. This measure
is adopted in retaliation of seizures of Monte
Videan shipping, and other violations of the law
of nations.

Following the PRESIDENT'S Message will be
found an account of the New York Money
Market, and of the rate of general prices on
the Ist inst., from the Journal of Commerce of
the 2d. Though long, as compared with King's
speeches, the Message has the merit of brevity
to recommend it as compared with the messages
of the JEFFERSONS, JACKSONS, and VAN BURENS.
TO THE SENATE AND HOUSE OF REPRESEN-

TATIVES OF THE UNITED STATES.
FELLOW-CITIZENS.—You have been assembled in your re-
spective halls of legislation under a proclamation bearing the
signature of the illustrious citizen who was so lately cal led
the direct suffrages of the people to the discharge of the im-
portant functions of their chief executive office, upon the ex-
piration of a single month from the day of his installation he
he has paid the great debt of nature, leaving behind hire a
name associated with the recollection of numerous be-
nefits conferred upon the country during a long life
of patriotic devotion. With this public bereavement are
connected other considerations which will not escape
the attention of Congress. The preparations neces-
cessary for his removal to the seat of Government, in view of
a residence of four years, must have devolved upon the late
President heavy expenditures, which, if permitted to burthen
the limited resources of his private fortune, may tend to the
serious embarrassment of his surviving family; and it is there-
fore respectfully submitted to Congress whether the ordinary
principles of justice would not dictate the propriety of its Le-
i gislative interposition. By the provisions of the fundamental
law, the powers and duties of the high station to which he was
elected, have devolved upon me ; and, in the dispositions of the
representatives of the States and of the people, will be found,
to a great extent, a solution of the problem to which our in-
stitutions are, for the first time, subjected.
In entering upon the duties of this office, I did not feel that

it would be becoming in me to disturb what had been ordered
by my lamented predecessor. Whatever, therefore, may have
been my opinion originally as to the propriety of convening
Congress at so early a day from that of its late adjourn-
ment, I found a new and controlling inducement not to inter-
fere with the patriotic desires of the late President, in the
novelty of the situation in which I was so unexpectedly
placed.. My first wish, under such circumstances, would ne-
cessarily have been to have called to my aid, in the adminis-
tration of public affairs, the combined wisdom of the two
Houses of Congress, in order to take their counsel and ad-
vice as to the best mode of extricating the Government and
the country• from the embarrassments weighing heavily on
both. lam then most happy in finding myself so soon, after
my accession to the Presidency, surrounded by the immediate
Representatives of the States and people.
No important changes have taken place in our foreign rela-
tions since the last session of Congress, it is not deemed neces-
sary, on this occasion, to go into a detailed statement in re-
gard to them. I am happy to say that I see nothing to de-
stroy the hope o f being able to preserve peace.
The ratification of the Treaty with Portugal has been duly
exchanged between the two Governments. This Government
has not been inattentive to the interests of those of our citi-
zens who have claims on the Government of Spain, founded on
express treaty stipulations ; and a hope is indulged that the
representations which have been made to that Government on
this subject, may lead, ere long, to beneficial results.
A correspondence has taken place between the Secretary cf
State and the Minister of her Britannic Majesty accredited to
this Government on the subject of Alexander M'Leod's in-
dictment and imprisonment, copies of which are herewith
communicated to Congress.
In addition to what appears from these papers, it may be
proper to state that Alexander M'Leod has been heard, by the
Supreme Court of the State of New York, on his motion to be
di,char_ged from imprisonment,. and that the decision of that
Court has not as yet been pronounced.
The Secretary of State has addressed to me a paper upon,
two subjects, interesting to the commerce of the cousAsy,
which will receive my consideration, and which I have the
honour to communicate to Congress.
So far as it depends on the course of this Covernment our
relations of good will and friendship will he sedulously culti-
vated with all nations. The true Atnelican policy will be
found to consist in the exercise of a spirit of justice to be
manifested in the discharge of all our international obligations
to the weakest of the family of nations as well as to the most
powerful. Occasional confikes of opinion may arise, but when
the discussions incident to them are conducted in the language
of truth, and with a strict regard to justice, the scourge of war
will for the most part be avoided. The time ought to be re-
garded as having gone by when a resort to arms is to be
esteemed as the only proper arbiter of national differences.
The census recently taken shows a regularly progressive in-
crease in our population. Upon the breaking out of the war
of the revolution, our numbers scarcely equalled 3,000,000 of
souls; they already exceed 17,000,000, and will continue to
progress in a ratio which duplicates in a period of about 23
years. The old States contain a territory sufficient in itself to
maintain a population of additional millions, and the most po-
pulous of the new States may even yet be regarded as but par-
tially settled, while of the new lands on this side of the Rocky
Mountains, to say nothing of the immense region which
stretches from the base of those mountains to the mouth of the
Columbia river, about 270,000,000 of acres, ceded and un-
ceded, still remain to be brought into market. We hold out to
the people of other countries an invitation to come and settle
among us as members of our rapidly growing family,
and, for the blessings which we ofer them, we
require of them to look upon our country as their
country, and to unite with us in the great task of pre-
serving our institutions and thereby perpetuating our liberties.
No motive exists for foreign conquests—we desire but to re-
claim our almost illimitable wilderness, and to introduce into
their depths the light. of civilization. While we shall at all
times be prepared to vindicate the national honour, our most
earnest desire will be to maintain an nisbroken peace.
In presenting the forgoing views, I cannot withhold the ex-
pression of the opinion, that there csxists nothing in the exten-
sion, of our empire, over our actnowledged possessions, to ex-
cite the alarm of the patriot for the safety of our institutions.
The Federative system, ]Paving to each State the care of its
domestic concerns, and devolving on the Federal Government
those of general import, admits in safety of the greatest ex-
pansion ; but, at the same time, I deem it proper to add, that
there will be found to exist, at all times, an imperious necessity
for restraining all the functionaries of this Government within
the range of their respective powers, thereby preserving a just
balance between the powers granted to this Government and
those reserved to the States and to the people.
From the Report of the Secretary of the Treasury you will
perceive that the fiscal means, present and accruing, are in-
sufficient to stipply the wants of the Government for the cur-
rent year. 'lle balance in the Treasury on the 4th day of
March lasts, not covered by outstanding drafts, and exclusive of
trust fune,s, is estimated at $860,000. This includes the sum
of $215,,000 deposited in the Mint and its branches to procure
metal lor coining and in the process of coinage, and which
could not be withdrawn without inconvenience—thus leaving
su'sject to draft, in the various depositories, the sum of
X 645,000. By virtue of two several Acts of Congress, the
Secretary of the Treasury was authorised to issue, on axcl after
the 4th day of March last, Treasury notes to the amount of
$5;413,000, making an aggregate available fund on hand of
$6,058,000.
But this fund was 'chargeable with outstanding Treasury
notes redeemable in the current year, and interest thereon to
the estimated amount of $3,260,000. There is also thrown
upon the Treasury the payment of a large amount of demands
accrued in whole, or in part, in former years, which will ex-
haust the available means of the Treasury, and leave the ac-
cruing revenue, reduced as it is in amount, burthened with
debt, and charged with the Current expenses of the Govern-
ment.

The aggregate amount of outstanding appropriations, on the
4th day of March last, was $33,429,616 50, of which
$`24,210,300 will be required during the current year, and
there will also be required, for the use of the War Depart-
ment, additional appropriations to the amount of
$2,511,132 98, the special objects of which will be seen by
reference to the Report of the Secretary of War. The anti-
cipated means of the Treasury are greatly inadequate to this
demand. The receipts from Customs for the last three
quarters of the last year and the first quarter of the pre-
sent year, amounted to $12,100,000. The receipts for
lands for the same time to $2,742,430 60, showing an
average revenue from both sources of $1,236,870 per month.
A gradual expansion of trade, growing out of a restoration of
el:infidel:l%x, together with a reduction in the expenses of col-
lectinK and punctuality on the part of collecting officers, may
cause, an addition to the monthly receipts from the Customs—.
they are estimated, for the residue of the year, from the 4th of
March, at $12,000,000. The receipts from the public lands,
far the same time, are estimated at $2,500,000, and from mis-
cellaneous sources, at $170,000, making an aggregate of avail-
able funds within the year of $15,315,000, which will leave a
probable deficit of 11,406,132 98 dols. To meet this some tem-
porary provision is necessary 'until the amount can be absorbed
by the excess of revenues which are anticipated to accrue at no
distant day.
There will fall due within the next three months Treasury
notes of the issues of 1840, including interest, about $2,850,000.
There is chargeable in the same period for arrearages for tak-
ing the 6th Census, $294,000, and the estimated expenditures
for
the current service are about $8,100,000, making the ag.
Streeate demand upon the Treasury,prior to the first of Sep-
teaTberhe and meansaboutsli,Min the Treasury, ury, and estimated to ac-
crue within the above named period, consist of about $694,000,
e authorised. o n th. 2Btbhy
thultimo,
Act anof unissuedlB4 a
amounting
obnanl
tainnege
to
of funds availabl -
e
1,
`u y notes
re;
maltinestimated receipts from all sources of
reeving a probable gdeafinc aggregate of about $6,450,000, and
the
eiwt
wants
9tfhethlestcoofveSruepinteenmtb,erannienxtetuoi-f
$4,845,000.
rtittuoc7cPyP,liln view of their best interests, will without
nttaeotoriondnes submit to all necessartleburthens.outßouft iptreis.,exniesvteinrg-
,ngeenlsi
pose
oaslintog avoid defeating the
theless, important so to im
just expectations of the connmtzlegni
commonly called
be altered, except under
l'oto
believed at this time
laws. The Act of the 2d
remains to complete the series of re-
ductions)rovisions
the Compromise Act, should
are n t
tuorgeexnistt. neoceisiesityieenrs,
only
yich
provided for by that law, at which time
made by the same law, and which then will be broughtme
in aid of the manufacturing interests of the Union, actively
fail to produce the most beneficial results. Under aw;ystem
of discriminating duties, imposed for purposes of revenue, in
union with the provisions of existing laws, it is to be hoped
that our policy will in the future be fixed and permanent
so as to avoid those constant fluctuations which defeat the
very objects they have in view. We shall thus best maintain
a
position which, while it will enable us the more readily to
meet the advances of other countries calculated to promote our
trade and commerce, will, at the same time, leave in our
own hands the means of retaliating, with greater effect, unjust
regulations.
In intimate connection with the question of revenue, is that
which makes provision for a suitable fiscal agent, bapable of
adding increased facilities in the collection and disbursement of
the public revenues, rendering more secure their custody, and
consulting a true eeonomy in the great multiplied and delicate
operations of the Treasury Department. Upon such an agent
depends, in an eminent degree, the establishment of a currency
of uniform value, which is of so great importance to all the es-
sential interests of society, and on the wisdom to be manifested
in its creation much depends. So intimately interwoven are
its operations, not only with the interests) of individuals,
but of States, that it may be regarded, to a great degree, as
controlling both. If paper be used as the chief medium of
circulation, and the power be vested in the Government of
issuing it at pleasure, either in the form of Treasury drafts or
any other; or, if Banks be used as the public depositories,
with liberty to regard all surpluses from day to day. as so
much added to their active capital, prices are exposed to
'constant fluctuations, and industry to severe suffering. In the
one case political considerations directed to party purposes may
control, while excessive cupidity may prevail in the other.
Thepublit, Coos cons4ailly liable to imposition.
Expansions and contractions may follow-each •otfrer in rapid
succession—the one engendering a reckless spirit of adventure
and speculation, which embraces States as well as individuals—.

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