Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1815-12-09


ed in the payment of duties and taxes) the aggre
gate sum OF thirty-three millions and ahslf of
dollars, leaving balance then in the Treasury
estimated at the sumof three millions of dollars
Independent, however, of the arrearages due for
military services ami supplies, it is presumed,
that afurther sum of FIVE millions of dollars, in
clusiny the interest on the public debt payable on
the first of January next, will be demanded n
the Treasury to complete the expenditures oFthe
present year, ard for which The existing ways &
means will sufficiently provide
The national debt, as it was ascertained on
the first Of October last, amounted in the whole
to the sum of one hundred and twenty millions OF
dollars, consisting Of the nnredeemeI balance of
the debt contracted before the war, (thirty-nine
millions of dollars) .he amount of the funded
debt. contracted in consequence of the war, Cs;x-
ty-four millions of dqllars,) and the amount orthe
unf,rded aud floating dcbs Cncluding the VAR
GUS issues of Treasury notes. seventeen millions
of dollars, which is in a gradual course of pay
ment- There will, probably be some addition to
the public debt, upon the liquidation of various
claims which are depending; and conciiiatory
deposition on the part of Congress may lead, no
morally and advantaseousy, to an equitable ar
rangement of the militia expences, incurred by
the several states, without the previous sanction
or authority of the government Of the United
States. But, when il is considered that the new
as well as the old portion of the debt has been
contracted in the assertion of the national rights
and independence and when it is recollected
that the public expenditures, not being exclu-
sively bestowed upon subjects OF transient pa
ture, viii long be visible m the number ard E.
quipments OF the American navy, in the milita,:;
werks for the q fence of our harbors and our
frontiers, and in the supplies OF our arsenals and
magazines the amount Will bear n gratifying
comparison with the objects which have been at
tained as well as with the resources of the coun-
try
The arrangement of the finances, with aview
to the receipts and expenditures of permanent
peace establishment, will necessarily enter into
the deliberations of Congress, during the pre-
sent session. II is true that the improved con
dltion of the public rev snue will not only afor
the means of maintaining the faith of the govern
mentwi its creditors inviolate, and ofprosecu-
ting, successfully, the measures of the most Ii
eeral policy; but will. also, justify an iininedi-
ale alienation of the burthens lmposedby the ne
cessties of the war. II is, however, essential u
every modification of the finances, that the bene
fits of an uniform national currency should be
restored to the community. The absence of the
precious metals will, it is believed, be teropora
y evil but until they can be again rendered
the general medium of exchange, it deyolves on
The wisdom of Congress, toprovide substitute
which shall equally engage the confidence, and
citizens
out the union. III the operation of the state
Banks cannot produce this result, the probable
Operation of National Bank Will merit consd.
ration and, IT neither OF these expedents. be
deemed eiiectual, it may become necessary TO as
certain the terms, upon which the notes of the
government, no longer required as an ms rument
of credit shall be issued, upon motives of gene
raj policy, rs common medium of circular ion.
Notw thstanding TAG security for future fepose
which the Uniied States ought to find IN Their
love of peace, and their constant reSpect for the
rights OF other nalions, the characl err ofthe time;
particularly nculcates the lesson, that whether
10 prevent or repeidanger, We ought net to be
InpFepared for 1t. Tins consideration will sufii
cien.ly recommend to Congl ess a liberal provisi-
on for the immediate extension and gradual com.
pietion OF the works of defence, both fixed and
floating, on our ma i.ime Iro,itier; and an all
squate provision for guarding our inland from
ierj against dangers TO which certain portions
of it may continue to be exposed.
As an improvement on our military establish
ment, it viii deserve the consideration of Con-
gress whether 4 corps of invalids might not be
so organized and employed, as DIT once to ar in
the support of merito::ouS individuals, excluded
by age or infirinities from the existing establish
ment, and to preserve to the public the bdneft of
Their stationary services, and of Their exemplary
disc pine. recommend also an enlarg o.
the military academy already established, AMI the
establishment Of others in other sections OF tine
union. AndI cann1t press ton much on the az
tention Of Congress, such classification and or
ganzation of the militia, Us VIII most eiicctually
lender it the safeguard Of fee state. IfexDe-
reHce mas sbewn IN the late splendid achieve
nents Of militia the value ofths resource for the
public defenccy IT has shewn also the Importance
of that skill in the use ofarms and that famiari-
ty with the essentiaj rules of discipline, Which
cannot be expected from the regulations now in
force. VIA. dis subject is ultimately connected,
the necessity of accommodating the laws, IN every
respect, to tue great Oh lect of enabling the poll
teal authority OF the un.on 70 employ, promptly
and eifectualiy, the physical power OF he union,
IN the cEses designated by the constitution.
The signal services which have been rendered
by our navy, and. the Capacities it has developed
for successful cooperation me national defence.
viii give 10 that portion The public force its full
value IN the eyes OF Congress, at an epoch which
calls for the constantvig lance ofall governments
To preserve the ships now in sound state; to
complete those already contemplated to provide
amply the unper,sha5ie materials for prompt au-
lamentations, and TO improve the existing arrsu,-
gements INTO more advantageous establishments,
Tor the cOnstruc ION, The repairs, and the security
ofv0ssels OF war, IS dictated by the soundest po-
Icy.
In adjusting the duties Of imports, to
the object OF revenue, the influence of the
triG' on manufactures will necessarily pre-
sent itself for consideration. However
wise the theory may be, which leaves to
the sagacity and interest of individuals the
application Of their industry aud resources,
-