Star.
London, England, 1808-01-01 00:00:00

PUBLIC DEBT.

It appears by the statement (D.) that the payments,
on account of the principal of the public debt, have,
during the year, ending the 30th day of September,
1807, exceeded 4,600,000 dollars ; making the total
of public debt reimbursed, from the Ist of April,
1801, to the Ist of October, 1807, about 25,880,000
dollars, exclusively of more than six millions, which
have been paid during the same period, in conformity
with the provisions of the Treaty and Convention with
Great Britain, and of the Louisiana Convention.
Of the twelve millions of dollars, which, according
to the preceding estimates, may be paid On account
the public debt, between the 30th of September,
1807, and the Ist of January, 1809, about eight
millions will be on account of the principal. It must,
however, be observed, that the unascertained result

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•
of the proposition made to the public creditors, for
the modification of the debt, may affect the amount
payable during the year 1808, on account of both
principal and interest.
On die Ist day of January, 1809, the principal of
the debt will, if the proposed modification be not
assented to by the public creditors. amount to near
fifty-seven millions and five hundred thousand dol-
lars. The subsequent annual payments thereon, on
account of principal and interest, will not, exclusively
of occasional purchases, exceed 4,600,000 dollars ;
and the whole of the debt, the nineteen Millions of
three per cent. stock only excepted, will be reim-
bursed in sixteen years.
A general subscription would reduce the capital to
about fifty-one millions of dollars. The payments
would amount to eight millions of dollars annually.
during six years, and average less than three millions
during the seven following, at the end of which pe
riod the whole debt would be extinguished.
An annual unappropriated surplus of at least three
millions of dollars, may henceforth be relied upon
with great confidence. The receipts of the year 180 S
have been estimated at 15,300,000, and the expences
at 12,600,000 dollars. The permanent revenue has
been computed at 14,500,000 dollars, and the perma-
nent expences predicated on an annual payment of
eight millions of dollars on account of the debt, have
been stated at 11,600,000 dollars ; and as this would,
if no modification of the debt should take place, be re-
duced to less than 8,500,000, the annual surplus
would then amount to six millions of dollars. Nor
are the seven millions and an half of dollars, which
will remain in the Treasury at the end of the present
year, included in the calculation.
What portion of that surplus may be wanted for
necessary measures of security and defence ; what por-
tion should be applied to internal improvements,
which, whilst increasing and diffusing the national
wealth, will strengthen the bonds of union ; are sub-
subjects which do not fall within the province of the
Treasury Department; but it is not impos,,ible, that
after making ample provision for both those objects,
considerable surplusses, and which can no longer be
applied to the redemption of the debt, may still accu-
mulate in the Treasury.
The previous accumulation of treasure in time of
peace might, in a great degree, defray the extraordi-
nary expences of war, and diminish the necessity of
either loans or additional taxes. It would provide,
during periods of prosperity, for those adverse events
to which every nation is exposed, instead of increasing
the burdens of the people at a time when they are-
least able to bear them, or of impairing by anticipa-
tions the, resources of ensuing generations ; and the
public monies of the United States not being locked
up and withdrawn from the general circulation, but
on the contrary deposited in banks, and continuing
to form a part of the circulating medium, the most
formidable objection to that system, which has never-
theless been at times adopted with considerable suc-
ce,s R, other countries, is thereby altogether removed. '
It is also believod that the renewal of the charter of the
Bank of the United States may, amongst ether advan-
tages, afford to Government an opporinnity of ob-
taining interest on the public deposits, whenever they
shall exceed a certain amount.

Should the United States, contrary to their expec-
tation and desire, be involved in a war, it is believed
that the receipts of the year 1808 willnnt be materially
affected by the event, inasmuch as they will princi-
pally arise from the revenue accrued during the pre-
sent year. The amount of outstanding bonds due by
importers, after deducting the debentures issued on
account of re-exportation, exceeds, at this time, six-
teen millions of dollars. The deduction to be made
from these, on account of subsequent re-exportations,
would, in case of war, be less than usual ; for expor-
tations will then be checked, as well as importations,
and in proportion as the will decrease, a greaterhome
demand will be creazal for the stock on hand, and the
necessity of re-exporting he diminished.
It has already been stated, that the specie in the
Treasury, at the end of this year, together with the
surplus of the year 1808, will amount to near eleven
millions of dollars—a sum probably adequate to meet
the extraordinary expences of the war for that year.
It will also be recollected, that in the estimated ex-
pences of the year 1808, the reimbursement of near
five millions and a half of the principal of the debt
is included. The only provision, therefore, which
may render any contingency necessary for the extra-
ordinary service of that year, in order to cover any
deficiency of revenue, or increase of expenditure be-
yond what has been esimated, will be an authority
to borrow a sum equal to that reimbursement.
That the revenue of the United States will, in
subsequent years, be considerably impaired by a
war, neither can or ought to be concealed. It is,
on the contrary, necessary, in order to he prepared
for the crisis, to take an early view of the subject,
and to examine the resources which should he selec-
ted for supplying the deficiency, and defraying the
extraordinary expences.
There are no. data from which the extent of the
defalcation can, at this moment, he calculated, or
even estimated. It will be sufficient to state, Ist.
That it appears necessary to provide a revenue at
least equal to the annual expences on a peace esta-
blishment, the interest of the existing debt, and the
interest on the loans which mar be raised. 2. That
those expences, together with the interest of the debt,
will, after the year 1808, amount to a sum less than
seven millions of dollars ; and, therefore, that if the
present revenue of 14,500,000 dollars shall not be
deminished more than one-half by the war, it will
still be adequate to the object, having only the inter-
' est of war loans to be provided for.
Whether taxes should be raised to a greater
amount, or loans be altogether relied on fordeftaying
the expences of the war, as the next subject of consi-
deration.
Taxes are paid by the great mass of the citizens,
and immediately affect almost every individual of the
community. Loans are supplied by capitals pre-
viously accumulated by a few individuals. In a coun-
try where the resources of individuals are not gene-
rally and materially affected by the war, it is practi-
cable and wise to raise by taxes the greater part at
least of the annual supplies. The credit of the nation
may also, from various cirCumstances, be at times
so far impaired as to leave no resource but tatationl
In both respects the situation of the United States is
totally dissimilar.
A matitime war trill, in the United States, gene*
raly and deeply affect, whilst it continues, the re-

• 44F • .
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goatees of individuals, as not only commercialprbfiti
will be curtailed, but piitriPally because a gnat pox:
tion of the tarpluS of agricultural produce tiecellarily
requires,a foi-eign marlc'et; The reduced price of the
principal artiokS exported fromthe United States
will operate more heavily than any contemplatedtax:
And without enquiring whether a similar cause may
not still more deeply and permanently affect a nation
at war with the United States, it seems to follow,
that s 6 far as relates to America,' the losses and Pri-
vations caused by the war should
,not be aggravated
by.taxes beyond what is strictly necessary. An ad-
dition to the debt is doubtleis an evil; but experience
having now shewn with what rapid progress the re-
venue of the Unien increases in time of peace, with
what facility the debt formerly contracted' has, in a
few years, been reduced, a hope may confidently be
entertained that all the evils of the war. will be tem-
porary, and easily repaimd, and that the return of
peace will, without any effort, afford ample resources
tOr reimbursing whatever may have been borrowed
during the %var.
The credit of the United States is alco unimpaired
either at home or /bread. and it is believed that
loans, to a reasonable amount, may be obtained on
eligible terms.
Measures have been taken to ascertain to what ex-
tent this may be effected abroad ; and it will be suf-
ficient here to suggest, that the several banks of the
United States may find it convenient, after the en-
suing year, and as the dimished commerce of the
country may require less capital, to loan to govern-
ment a considerable portion of their capital stock, now
computed at about forty millions of dollars.
It might be premature to enter into a particular
detail of the several branches of revenue,
,which may
be selected, in order to provi& for the interest of
war loans, and to cover deficiencies, in case the
existing revenue should fall below seven millions of
dollars. A general enumeration s'eems, at present,
sufficient.
1. Not only the duty on salt and the Mediterra-
nean duties may he immediately revived, but the.
duties on importation generally may, in case of
war, be considerably increased, perhaps doubled,
with less inconvenience than would -arise from any
other mode of taxation. 'Without resorting to the
example of other nations, experience has proved that
this source of revenue is, in the United States, the
most productive, the easiest to collect, and the least
burdensome to the great mass of the people. In titne
of war, the danger of smuggling is diminished ; the
scarcity of foreign articles prevents the duty ever fal-
ling on the importer ; the consumers are precisely
those members of the community who arc best able
to pay tll,l duty ; and the increase of domestic manu-
factures, which may be indirectly affected, is in itself
a desirable object.
2. Indirect taxes, however ineligible, will, doubt-
less, be cheerfully paid as war taxes, if necesiatry.—
Several modifications of the systems formerly adopted
might, however, be introduced, both in order to di-
minish some of the inconveniences which were expe-
rienced, and particularly to insttiv the collection of
the duties.

S. Direct tales are liable to a particular objection,
arising from the unavoidable inequality produced by
the general rule of the Constitution: 'WhatArer dif-
ferences may'exist between the relative wealth, and
the consequent ability of paying of the several States,
still the tax must necescariiy be raised in proportion
to their relative population. Should it, however, be-
come necessary to resort to that resource, it is believed
that the tax raised upon that species of property, in
each state, which, by the state laws, is liable to taxa-
tion, as had originally been contemplated by Con-•
riess,
would be preferable to a general assessment
laid uniformly on the same species of property in all
the states. as was ultimately adopted.
All which is respectfully submitted.
ALBERT GALLATIN.
Secretary of the Treasury;
Treasury Department, Nov. 5, 1307.

Letters from Ireland mention that Government is
making preparations for giving a due reception to the
French, should they attempt an invasion. Four camps
are to be immediately formed in various parts of Ire-
land, viz. Athlone, Aughncloy, Bandon, and S r
bane, each of which is to consist of 15,000 men, b
sides yeomanry.
The Court of Directors of the East India Coin •
pany, yesterday ordered the following ships, viz.
Ocean, Ceres, Carlton, Dorsetshire-, AlMvick Castle.
David Scott, and Exeter, to prepare for the reception
of troops, to he landed at Madras, in their outward
voyage to India. This arrangement will afford great
accommodation to litany private passengers, wishing
to proceed by the early ships.
Some persons seem to tnd a difficulty in deter-
mining to xVhich to give the preference of adventure
—to the present State, or City Lottery. From to
manifest weight of interest in each Scheme, the bulk
of Fortune's Suitors will be apt to experience a
greater diffitulty in abstaining from an advenute in
both Lotteries.

MONTHLY ACRICULTURAIe RFPORT.--011 dry soils,
a large breadth of land, has been already plowed up
for barley and peas. The green winter crops of
wheat, tares, turnips and rye, from the mildness of
the weather, look kind and flourishing. Manuring
meadows, hedging and ditching have been also car-
ried on to a great extent.
Many hands are now employed in the barns and in
thrashing mills, which last are to be found, on most
large farms, and in general give satisfaction, doing
their work effectually. The barley crop does not
yield equal to expectation, bUt no deficiency has,, as
yet, been experienced in the wheat and oat crops
ready threshed. Wheat averages throughout Eng-
land and Wales 70s. 8-11 per quarter—Oats 335.
and Barley 38s: I Id.
The straw proving short and small in bulk, and a
scarcity of fodder being expected, the prices of lean
stock have been considerably reduced. This consi-
deration brought immense droves to the late fairs and
markets, where little business was however done,
farmers fearing to make large purchases, and hay
being dear. Cows and Calves (for the time of the
year) have been offered unusually low. In Smith.
field market, Beef fetches from ss. to 6s. per stone of
81b.-Mutton from 4s. 4s. to ss. 4d.—Pork from 4s.
to 4s. Bd.
Fresh Horses and perking Pigs obtain Loolpr:ces,
being much wanted.

T

t•-••;.• • •
YEAS.
•
FATHER and Fatatin of ilinmallitie!, '
That greatest, fiat, itat Sea, •
Fountain °Ellie, and light, and genre,
. Supremely good and blest; •
Whose hand, unseen, condi as us still,
Cusetrituoves all below;
Whose power and goodness most we fed,
• Whose nature least. we know;
•
let t!..e year anew begin .
Its circling round witlr Tug!! .
Whose voice first taught the year to ru:-, •
And bade all nature be.

O teach me thro thy ways to trace,
And on thy works explore,
From nature look to nature's cause,
And that First Cause adore!

Save me from vanity and vice,
Teach me mysclf to know„.
Point out the path to reill bliss,
Aisd guide me where I go.

0 grant a clear discerning head,
Implant a heart humane,
That let no prejudice mislead,
Thi: no foul passion stain !
Teach me to drop the friendly tear,
To heave the tender sigh,
Nor let me ever shut the ear,
A;raiwit the orphan's cry.

Let not my love in narrow bound.
Be to a *sect conEn'd,
But stretch it's wide embrace around,
A friend to human kind. -

O send contentment, health, and peace,
Aught else, if thou ordain
These teach me cheerful to embrace,
Nor Ter-myself in %do !

Blest, may I thankfully receive,
Distrest, thy hand adore,
Rejoice in what thy bounty gives,
Nor envy who have more.

Riches, thou knosest, are best, or set ;
Be this to thee resiel :
Lot ease and leisure be my lot,
And bless me with a friend.

Then grant, when life's short scene is o'er,
In peace to lay me down;
In conscious innocence secure,
And dare the world unknowr.
My prayer when fit thou bee'st, allow ;
Reject, when fit thongs see ;
My will to thine shall ever bow,
And own the wise decree.

Great Soul of all this mighty frame,
May loud thy praise resound ;
Let all creation hymn thy name,
And earth rejoice around!

POLICE.

MANdow-Housz.—Yesterday a Mr. Miles was sum-
moiled by Carley, a porter, whom he had em-
ployed to carry goods to the warehouse of the defen-
dant, in which there was a ferocious dog. Whether
by accident or intention, it was not clearly made out,
but the load of the complainant fell violently on the
floor, and roused the dog, which instantly seized Car-
ley by the les, ; and on the animal gutting his hold, the
complainant, to prevent his second attack, at which
he seemed inclined, defended himself with his knot.
At this moment Mr. Miles made his appearance, re-
probated the conduct of the complainant, and then
for,ced him out of the warehouse with the loss of his
knot. The complainant had been ill since the affair

- happened. .
The Loan MAYOR did not think he was warranted
in awarding compensation • that was the province of
another tribunal. He should, however, recommend
Mr. M. to satisfy. the complainant for the loss he had
sustained. Mr. M. bowed assent, and withdrew for

that purpose.
Gutent,ALL.—Yesterday Sarah Boswell was charged
with robbing the apartments of Elizabeth Andrews,
in Blackhear-alley, Fleet-market. During the absence
of the prosecutrix, the prisoner entered her room, in
which were two children, and sat by the fire. Soon
after she took a key from her pocket, opened a bu-
reau; and stele therefrom several articles of wearing
apparel. Having wrapped them up, she threatened
to cut one of the children's throats if she made any
resistance while she was taking a pair of gold rings
from, her ears. A lodger, in the second floor, recol,
lected seeing the prisonerist the door of the house.—
One of the children, a girl about 6 years of age, was
the prinicipal evidence against the prisoner ; she de-
tailed every circumstance very minutely, and on
being questioned by the .Magistrate if she knew the
meaning of an oath, gave such answers as induced
him fp think she did. On further investigation, it
came out that the prosecutrix had promised forgive-
ness to the prisoner, if she would confess where the
stolen articles were, which she did in the presence of
the officer. Alderman BOYDELL then said it w'as
unnecessary for him to examine any more witnesses,
the promise made had perverted the ends of justice,
his Magisterial authority had been taken out of his
hands, and he could now only commit the prisoner
till she restored the property, which he aid.'
June Phillips and Lydia Milon, two servant girls,
were charged with obtaining two French bonnets,
from Mrs. Burton, in Blackfriars, under false pre-
tences. The prisoners -w:nt into Mrs. B.'s shop, and
told. her s.Mrs. Edington, their aunt, who lives on
St. Andrew's-hie, wished to look at some bonnets ;
two were sent ; but as neither were returned, appli-
ca'im was male for payment, when the fraud was
discovered. Mrs. E. declared she knew nothing of
the prisoners. Phillips was apprehended with one of
the stolen bonne.ts un her head, and she gave infor-
mation wherc Mason WV; to be found. Mrs. Burton
to-. 4 the Magistrate she understood the prisoners had
bef;;N this circumstance borne very good characters,
on that aceount she wished to decline prosccut-
irg them ; at the s-ame tittle wished to be indemnified
for the injury the bonacts had sustained. The Ma-
gistrate applauded Mrs. il.urton'shumanity, and after
adirlonl,hing the pri•:oners as to their future conduct,
swllred them to depart. During the examination