The Statesman.
London, England, 1812-01-03 00:00:00

Tim trrATEsMIN,..-

.. .
Lc.tvinr the ananant of old debt unredeemed on Ist
of Jan. I),lii Vad consisting Of the foiloa inz specie, • • 1
viz. 5J3,909.189
Six per cent. and deferred stork t unr:decmed,
amonnt
Three per cent. 'stock 16',151,1q10, Concerted do. 17437'696. 1
5.11i,1 8. • • . - . 15,711;206
I 7',10 six per cen!. stick - . - MAO
itcgiteretlachtztud delft due to foreign of firers aistiKt•
• • '; ••
• • 33$9tli MO
And to phich adding the •Lcsniiiina sit ner cent.
stork. lain; a nem• debt contracted sabarquent to the . .
Ist of April, lizOl - 7 1 i,1,5q,D00

• ,
'llTak. the 11 hole anaonnt of, pulilic debt on the ht . ••
• •
of January, 1812 -15,1 m JB9,

The annual interest on the public debt, due on the • :
Ist of April, 1801, amounted to 4,180,463
The annual interM on the public debt '
betmtren the Ist of April, Ibol, and the 15t of Jai.
1812, amounts to

v.632,9n

Leaving for the amount of annual Interest on the
old debt unredeemed on lit of Jan.
The annual Interest on tfie Louisiana stork Is

1,50,411
674400

Making the annual interest on the whole debt due
on Ist Jan. 1812
Which subtracted from the annual interest on the
debt due on Ist April, 18tll - •
Leaves for the difference between the amount of
interest respectively payable at these two dates

2,222,481

4,480,463
1,967,242

The disposable national revenue, or that portion
which alone is applicable to defray the annual- na.
tional expenies, consists only of the surplus of the
gross amount of revenue collected, beyond the
amount necessary for paying the interest on the pub,
lic debt. A diminution of 'that interest is, with re- ;
speet to theability of defraying the other annual ex-1
penes, a positive increase of, revenue to the same I
amount. iirtih an equal amount of gross revenue, I
the revenue apptiemble to defray the national ex-
penses is now, by•the effect of the reduction or the
'debt, two *minima six hundred thousand dollars
greater than on the Ist day of April, 1801. tar, •if I
another view of the subject be thought more correct,,
the •laws for the reduction of the debi.have in ten
years and nine months, enabled the United States.
to pay in full the purchase money of Louisiana, end
increased their revenue near two millions of doltirs.
If the amount of annual payments on account of
both the principal and interest of the public debt,
during the last eight years, be contrasted with the
payments hereafter necessary' for the same purpose,
the difference will be still more striking. Eight mil-
lions of dollars have been annually paid on that ac-
count during those eight years. The whole amount
payable after the year 1812, including the annual-re-
imbursement on the:six per cent.and deferred stocks,
is 3,702,382 dollars, making an annual difference of
more than four millions two hundred thousand dol-
lars, which will he liberated fro:n that appropriation.
And this annual payment of about Three millions
eight hundred thousand dollars would have been hr.
ficient, with some small variations, to discharge in
ten years the whole of the residue of the existing
&lA, with the exception of the 3 per cent. stock.,
the annual interest on which amounts oely to
485.000 dollars.. The aspect of the foreigl relations'
of the United States forbids, however, the hope of
seeing the work completed within that short period.
The redemption of principal has been effectual
without the aid of any internal taxes, either direct or
indirect, without any addition during the last seven
years to the rate of defies on importations, which on
the contrary have been invptrired by the repeal of that
on salt, and notwithstanding the great diminution of
commerce during the last four years. It therefore
proves decisively the ability of the .United States with
their ordinary revenue, to discharge, in ten years of
peace, a debt of forty-two millions of dollars, a fact
which considerably lessons the weight of the most
formidable objection to which that revenue, depend.
ing almost solely on commerce, appears to be liable.
In time of peace, it is almost sufficient to defray the
expences of a war ; in time of war it is hardly compe.
tent to support the expellees of a peace establish.
ment. Sinking at once under adverse circumstances
from fifteen to six or eight millions of dollars, it is only
by a persevering application of the surplus, which
it affords in years of prosperity, to the discharge of
the debt, that a total change in the system of taxa-
tion, or a perpetual -accumulation of debt can be
avoided. But if a similar application of such surplus
be hereafter strictly adhered to, forty millions' of
debt contracted during five or six years of war, may
always, without any extraordinary exertions, be
reimbursed in ten years of peace. 'This view of the
subject has, at the present crisis appeared necessary
for the purpose of distinctly' pointing out one of the
principle resources within the reach of the United
Statei. But to be placed on a solid foundation, it
requires the aid of a revenue " sufficient at least to
defray the ordinary expences of Government, and to
pay the interest on the public debt, including that on
new loans which may be authorised."

Leaves a deficiency to bervvided for of 2,600,000
Idollars.
An addition of fifty per cent. to the present amount,
'of duties (together with a continuince of the tempol
rary duties, heretofore designated by the name *of
" Mediterranean Fund") wit) be sufficient to supply
that deficiency, and is respectfully submitted. This
mode appears preferable for the present to any inte.-
i nal tax. With respect 'to the sales of public laatts,
besides affording a supplementary fund for the nisi-
!'mate redemption of the public debt, they may, with-
' out any diminution of revenue, be usefully applied as
a boanty to soldiers enlisting in the regular service,
and in facilitating the terms of loans. But it does
not appear that the actual receipts into the Treasury
arising from the sales tan be materially increased,
without a reduction in the price-' unless, it be by an
attempt to offcr'certain portions for sale in the large
cities of the Union.

The same amount of revenue would be necessary
and, with the aid of loans, would, it is believed, he
sufficient in case of war. The same increase of du-
ties would therefore .be equally necessary in that
event. Whether it would be sufficient to Vroduce
the same amount of revenue as under existing cir-
cumstances, cannot at present be determined. Should
any deficiency arise, it may be supplied without dif-
ficulty by a further increase of duties, by a restora-
tion of that on salt, and by a proper selection of
moderate internal taxes. To raise a fixed revenue of
only nine millions of dollars, is so much within the
compass of the national resources, so much less in
Proportion than is paid by any other nation, that,
under any circumstances, it will only require the *ill
of the Legislature to effect the object. ,
The possibility of raising money by loans to the
amount which may be wanted, remains to be exa-
mined. For the hct that the United States may
easily, in On years of peace, extinguish a debt of '
forty-two millions of dollars, does not necessarily
imply that they could borrow that sum during a period
of sat.

In the present state of the world, foreign los►►s
may be considered as nearly unattainoble. In that
respect, as in all others, the United StateS must solely
rely on their own resources. These have their ►►ate-
ral bounds, but are believed to be fully adequate to
the support of all the national force that can be use-
fully and efficiently employed.
The ability and will of the United Stales faithfully
to perform their engagements, are universally known :
and the terms of loans will in no shape whatever be
effected by the want of confidence in either. They
must, however, depend, not only on the state of
public credit, and on the ability to lend, but also on
the existing demand for capital required for other obi.
leas. Whatever this may be, the money wanted by
the public must be purchased at its market price.
Whenever the amount wanted.for the service of the
year, or the whole amount of stock in the market,
shall exceed certain limits, it may be expected that
legal interest will not be sufficient to obtain the sug►3
required. In that case, the most simple and direct
is also the cheapest and safest mode. It appears much
more eligible to pay at once the difference, either by `
a premium in lands, or by allowing a higher rate of
interest, than to increase the amount of stock
created, or to attempt any operation which might
injuriously affect the circulating medium of the
country. This difficulty, and it is the only serious
one which has been anticipated, will not, indeed,
if analysed, appear very formidable. For, to take
an extreme case, and supposing even forty millions
of dollars to be borrowed at eight instead of six per
cent. a year, the only difference would consist in the
additional payment of eight hundred thousand dol-
lars a year, until the principal was reimbursed : a
payment inconvenient indeed, and to be avoided if
practicable, but inconsiderably if compared either
with the effects of other means of raising money,
or with some other branches of the public expe►►di-
ture.

- • - -

-7--Artior

BATTLE.

A letter from a 'entleman 'is Lonisvi
Nov. 16, to .the Wm; Mr. Ormsly, 'at Washingt;4l,
Oates, Tinkt au action took-place between the troops
tinder Gumeurdlarrisuis, aptl the Indians under the
Prophet, on' tt.7th Syr. Amonkthe killed were
.ColonelsPavies, Oweu, and Weite; Captain S.pea-
cer,andboth tis subaltern,;, Harry and Italie. There
were about 17U whites killed acid wounded, and as
many Indians. The Indians commenced the attack
insight of the Prophet's town, and killed all the
guards with their arrows, having surprised the camp
unexpectedly. Three Indians attacked Col. Geiger
'wills fed{, one he killed, aid drov.4 off the other
two,. but was shot through his. arm. Gov. Harrisec
was.shot through his hat, and slightly wounded ia
his head. Thomas Randolph was killed, and Jtu'le
Taylor's horse was shot under Lim. rL'jor Floyd in
his shirt-tail, fought like Cesar. The greatest slang',
ter was at the point tf the bayonet and edge of 1.1
tomahawk. A letter front Ranter tv Capt. Clark,
says, he is slightly wounded, and that James Sum.
Met-title and Steplull Mars are moor.;; the
The Indians. got all the bt-ef soli. most ei their
horses, nudabout hi:FV:el of corn. The folic•
limns were victorious. and text .d4y, burtist the
Prophet's town. In addition to
.sais
the Alexandria PrTyr, another letter states, that
Governor Harrison had au intercqetv with tl.;; Pro-
phet on the 7th Noretnher, and is hae.bettu'egreed
between them to hold a Couuciren the react day—
that a negro had dose reel from tee American army.
and. Went over to the Indians, and tcld them the in-
tended Cohncil was only meant as a decoy to. the
Indians, .whein it was' the intention of-the whitey to
massacre when gathered together, 'Cod that the *nte'
rican troops Only consisted of about two wundred.

On SUNDAY, 3 ANGA 4, 041, •
wit .t. na r•tinaisnen,
Price Sixpence lfa:fpettay4 •
A NEW sU l'Ett •
TIIE CONST TUTI ti N.—At Cte &nins.lacezleni
of ark.* Publication, it iy a cemman pt-aoticetornaksi .
professions which are not only iarainitaill,le o ith the wade:-
taking, and impramicahle in performance, but contrary to the
s iews of the partius earrerned. CON,TITUTION wClstand
upon a different ground, and. aithant 11 Rusting tile Public
with a high-seasooed Kill of F.tre, will t)rrhish thmi' with all
the IYCORTCST 1),4 VATIC I VTELLIGEM.CA Tof the preceding
week, torther sviia a concise Silunnarg of Foreign News, by
which the Iteadery of a. SONO %V P sl'R wtill br enalikl to
form an necuratr opinion of those Important and Interesting
Eiients,isliieh are constantly indoeo:ing the Political net nf
ancient States and Finpir,s. The Polities of the Cnerercirriey
will ,6e.• founded upon the saint principles as those of tlie
sij
st;;;Jum, ss siuce its estahlishinellt, have bbennniformij
Itcooreenuir and free from Party Faction.
The Proprietor of the CosiorritnTiosr, slitTeriag under Mt-
nisieribl persecution, has been a -firxes Pittiionrit in his Ma-
jesty's Gaol of Newgatu for upWards of TWXLVE MONTKV, and
has .anotber year yet to serve, for two alleged Libels; 1w can,
therefore, feel for the wrongs and oppressions of obwni, and
shall continue his exertions in exposing all those Yvette DE-
trtmeseTs, who prey upon the industrious pert of the Gem
*nullity, and who are the chief proinotens of the destructive
War in which this Country is unfortnuately.engiged.
The CONSTITUTIO% will be Printed aturPethrishedait an early
hair on Sondes! morning, at the Sxaersnx7; Ormee, No. Si ,
Fleet-street. where Orders and Ceesmunicai lent ate received,
and by all the News Dealers in Town and Country.

Arr. Mani. Par.
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1 • Dublin 7 ' ',"• 0
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i 1
0 'Cadiz
i
o . Malta •
0
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.. ,4. , .. - 1

PRICE OF rWrOCK.S. Tlll3
Rank
9 pre Cent. Cons.
3 per Cent. Red. 621 3
4 per Cents. 780
5 per Cent, Navy
Long. Ann. 16/

DAY AC ON O'CLOCK.
India Bonds
F.:chewier Bias Sd. did. pz,g
Ditto ad, 1 4 pr,
Oinniam
Gum& far Acet. 64i
Lattfty Tickets Ell

which blockade was afterwards extend.
of blonde,
ed to the port of Brest ; but it being notoriously im-
possible to maintain such a systesn by actual force,
this was not inaptly styled a Paperßlockade.
On the 21st of November, 1806, Bouzparte hay- ,
big In the mean time conquered Prussia, issued from
the metropolis of that kingdom the document called
the Berlin Decree, which retaliates on the British
Order of the 16th of April, by declaring England in
a state of blockade, and prohibiting the commerce of
all neutral nations with this country.
On the 9th of January, 1807, the British Ministry
;.cued a fresh Order in Council, to retaliate upon the
Berlin Decree ; the substance of which Order was,
that no neutral vessel should be allowed to trade to
ans. port of France, or to any port of her Allies so
much " under French controul as that British vessels
nine not freely trade thereto."
On the 11th of November, in 1807, another of the
series of British Orders was issued, directing that
neutral aessels bound for the ports of France, or of
her Allies under French controul, should undergo a
search by British cruisers, or should proceed in the
first instance to England, and pay a per centage upon
their cargoes.
These Orders called forth another Retaliatory De-
cree, isped by Napoleon from Milan, on the 7th of
Deewelier, 1807, which directed, 44 That every
ship, t,i st ha lever nation it may belong, that shall
hate submi•ted to be searched by English ships, or
to a vo)age to England, or that shall have paid any
tax whatsoever to the English Government, shall for
that alone be declared to be denationalized, and to
have forfeited the protection of its Government, shall
hate become English property, and as such shall be
seizable, either in a French port, or by, French
cruisers, and adjudged to the captors."
This produced more British Orders of Retaliation,
in the spirit of the former, and the last of which was
issued in April, 1809.
It remains only in conclusion to state, that
against all these infractions of neutral rights the
Government of the United States loudly protested,
both at the Courts of London and Paris, by both
of ehich they were told, that nothing could be more
distant from the wish of that Government than to
commit any act of injustice against America; that
all each had done was purely retaliatory upon the
acts of the other; that it was the earnest desire
of earls to sec the commerce of the world restored
to that freedom which is necessary to its prosperi-
ty; that they were ready• to abandon the system
which had been forced upon them, whenever
the enemy should retract the principles which had
rendered it necessary ; and Lord Wellesly, on the
part of his Britannic Majesty, added, that we were
ready to " proceed peripussu_with France, in relax-
ing the rigour of their measuree."—We shall only
that on the Sth of August, 1810, it was noti-
fied by the French Government to the American Mi-
nister resident at Paris, that the Berlin and Milan
Decrees would be revoked on the Ist of November

following, " it -bring clearly understood that the
English Orders in Connell should be rescinded at the
same time." This information was, on► the 25th of
August, 1810, communicated to the British Govern-
ment. by Mr. Pinkney, the Minister of the United
Slates to the Court of London; but instead of being
told that we were ready to redeem our pledge, and
to proceed step by step witk the French in relaxing
the rigour of these measures, the answer wag, " that
henever the repeal of the French Decrees should
have actual!!! taken place," then, and not till then,
ie should relinquish our present system. What kind
of evidence the British Ministry require of the ac-
tual re►bcntion of the French Decrees we knew not;
the Americans. by their President, say, they have
cca,Pci to exist, but the British Orders in Council
continue t. operate with undiminished rigour, to the
►uin of our manufacturers and to the dishonour of
the country.

We are authorised to state, that a paragraph which
appeared in the Times of this morning, respecting
the Banking concerns of Messrs. BOLDER() and• Co.
whose failure we mentioned yesterday, is grossly un-
founded in almost every particular. Until the affairs
of that company are regularly investigated, the pub-
lic will do well to be on their guard against exag-
gerated accoonts respecting them, which have no
other foundation than malevolence.

Wedeesday morning the Earl of MOIRA had an
kuileuce of the PRINCE Re.oxscr, at Carlton-house.
It is somewhat remarkable, that Mr. SHLRIDAN
should have made his debut, as a Parliamentary
Orator, by a motion on the disgraceful state et the
Police of Wesitnin :len in which he was seconded, in
a maiden speech also, by his friend Lord JOHN
rOWNbREND.
Lord Viscount JocELYN, who is to move the Ad.
dress in the House of Commons, is Joint Auditor.
General of the Exchequer of Ireland, %ith his fa-
ther, the Earl of Ronzw. The place is a perfect
nnecurc.

" it is with extreme satisfaction we leans," PIP
the Freeman's Journal, " that most of the liberal
Protestants uow is Dublin, have agreed to give a
sumptuous entertainment to their Catholic counery-
men."

4.
Three Clerks belonging to one of the offices in
Somerset House, were examined at the AdmirelV-
Office, on Wednesday and yesterday, before Mr.
Caorra and Sir T. B. TuostesoN, assisted by Mr.
CaAn.tx, and some other Magistrates, upon certain
charges of misconduct brought against them.
On Wednesday evening, one of Clerks of a re-
6Pectahle Banking-house, in the City, was appre-
hended on a charge of embezzling 14001. the pro.
Perty of his employers, and lodged in the Poultry
Comptes.

,

• p

G" ._w. ~,

r

isri~

.~:

N4VAL INTELLIGENCE.

--.40.--
PORTSMOUTH, JAN. Z

Arrived the Mermaid, armee en flute, Son. Cap.
tain W. Perry; and the Laiona. armee en flute,
Captain Sotheby, with a convoy from Lisbon. Also
the Dwarf cutter, Lieut. S. Gordon, from the east•
ward, and the squadron from off Cherburgb, con-
sistiug of the Venerable, Royal Oak, Goshawk, Hot•
spur, and Thracian ; the latter destroyed, on Friday
n French privateer off Cherhurgh.
Ime into harbour to be docked, the Courageux,
74, Captain Plampin.

PLYMOUTH, JAM. 1.
Arrived the Star, Captain Jameson, from Hon.
duras, bound to London with logwood,
Sailed the Niemen frigate, of 38 gum, Sit Michael
Seymour, Commander; on a cruise to the Westward.
Came in the Scylla brig of war, of 18 gtitts, Cap-
tain Atchison, and has brought in with her the Ame-
rican brig Fly, from Havre de, Orace, bolitid 'to
Bristol, in America, with wines and brandy, which
she has detained,

Arrived the Diadem, of 64 guns, from Ports.
mouth.

Sailed the Mermaid awl • Latona frigates) with a
fleet of taansports, having 41 hoard French prisoners
for Portsmouth, which aiitied here yesterday from
Lisbon.
Di* Jai'. V.
Arrived his Majesty's ship cambetltrod, frog*
Portsmouth ; and the Fatourite, Bemis, from the
River, bound to Jamaica.

. -
Passed by a large fleet of colliers and coaster. froni
the westward.

LEITH, DEC. Si.

Sailed last night his Nlajest 's ships Eagenh4elio,
Sarpedon, and Nightingale, to protect the home-
ward-bound Baltic fleet, now said to be on the
Coast.

Ott the evening of the 14th instant, a Gentleman
was stopped near Sandy .lane, on the Stapleton road,
Bristol, by two ruffians, ono of whom knocked him
down; but whilst they were proceeding to rifle his
pockets, they were alarmed by some _noise, and de-
camped with the Gentleman's hat.
EsTitAoItDINARY MOIttALITY.—At a Society,
near Qucensferry, on the 10th ult. Isabella Nlennell,
aged three years ; on the 11th ult. William Miller
Mennell, aged seven months ; on the 13th-ult. Mary
Mennell, aged seven years; and Margaret Mennell,
aged live years, son and daughter of Mr. William

Seocr.►`r. ArcinviT.—Art unfortunate accident
occurred at the Portsmouth Theatre on Tuesday
evening. A young lad, 14 years of age, of the name
of James Harrison, the darling son of a widow, a
.lops►ller in Portsmouth, went with some of his
companions to the gallery of the Theatre as soon as
the doors were opened. Oil their gaining the top of
the stairs, which open on the back of the gallery, he
rushed directly down to the front, eiclaiminif he
would either get a front seat, or go into line
Unfortunately there was no Iron rating- tflywriVe
resting-place for the arms, to prevent his falling over,
and he was precipitated headlong dow❑ a height of
thirty feet. Surgical assistance was immediately pro-
cured, and the Theatre closed. The Manager, with
marked attention, which did honour to his feelings,
ordered every care to be taken of him in his private
dressing-room during the night, where. he lingered
in the greatest agony till eight o'clock the following
morning, when he died.

A Subaltern Officer, in a-garrison town, appear-
ing very slovenly on parade, was thus accosted by
his Captain :---" Sir, I am ashamed of you; why, by
the negligence of your dress, I should take you at
least ro be a Colonel, if not a General !"
Furred great-coats and scowler whiskers are at
present all the rage among the Bond-street Bucks.-:-
Such of the animals as are not shod wear broad brass
spurs, though many of them never mounted a horse
in their lives.

The impediments which have so long interrupted
the negociation between Russia and Turkey, are said
to have at length been removed, and that prelimi-
naries of peace, if not already signed, will very
shortly be concluded. Report says, that Moldavia
and Wallachia are to be ceded to Russia, and that
Servia is to be again placed under the Turkish do-
minion.

A poor woman, while proceeding to Covent.
garden market, from Old Brompton, was yesterday
morning stepped between the Bell and Horns pubne.-
house and Iltrgmore-laue, nod robbed of 15s. by
two ruffians, dressed Iwsmoek-troclis.
Molineux, the sable pugilist; has made, a safe re-
t►eat, to avo►d clamorous creditors, some of. whose
debts he declares fictitipus. .
' - TIE MARKETS.
' 'CORN EXCHANGE, Sas. S.'

To-day the Market has not natty arrivals of • Wheat, and 'the
remaining supplies but inconsiderable, waiting*appliesr few
salesare effected, and second, with ordinary' at srunewhat less.
Barley and Matt at littiriluctuation. White and Grey Pens, as
also .Beaty of the tyto.kind, rather lower. Be have but fry.
further airivalsof its, and this trade is named at hide Ilartua-
due. nom! frutajbe late pleat,' scarcely supports the gene-
ral priers' quistesl: