Edwardsville spectator. [volume] (Edwardsville, Ill.) 1819-1826, 1820-01-08

this intercourse, may not be eXpcoieut.
1t is seen with interest, that, although it
has not been practicable, as yet, to agree
branch of their commerce, such is the
disposition of the parties, that each will
view any regulations, which the other
may make respecting it, in the most
friendly light.
BY the fifth article of the convention,
concluded on the goth of October, l8ISs
it was stipulated that the differences
which had arisen between the two goa
vernments, with regard to the true intent
and meaning of the 5th article of the
treaty of Client, in relation to the carry.
ing away, by British officers, of slaves
from the United States, after the ex-
change ofthe ratihcations of the treaty Of
peace, should be referred to the decision
of some friendly sovereign or state, to
be named for that purpose. The minis
ter of the United States has been in
structed to name to the British govern
ment, foreign sovereign, the common
friend of both parties, for the decision
OF this question. The answef~of that
government to the proposal, when re-
ceived, will Indicate the further mea-
snres to be pursued on the part of the
United States.
Although the pecuniary embarrass-
ments which affected various parts OF
the union, during the latter part of the
preceding year, have, during the pre-
sent, been considerably aug mented, and
still continue to exist, the receipts into
the treasury, the 3oth of September last,
have amounted to 100000. After
defraying the current expenses of the
government, including the interest and
reimbursement of the public debt, paya-
bic to that period, amounting to $4,000
900, there remained in the treasury, Ola
that day, more than 50, 100000, which,
with the sums receivable during the re-
mainder of the year, will exceed the
current demands upon the treasury for
the same period.
The causes which have tended to d.
minish the public receipts, could not fail
TO have corresponding effect upon the
revenue, which has occurred upon m-
posts and tonnage, during the three first
ever, ascertained that the duties, which
have been secured during that period,
exceed Sl8,ooo,ooo, and those of the
whole year will probably amount to
S23,ooo,ooO.
~ ,i4o probable receipts of the next
year, / refer you to the statements which
will be transmitted from the treasury,
which will enable you to judge whether
further provision be necessary.
TIE great reduction in the price of the
principal articles of domestic growth,
which has occurred during the present
year, and the consequent fall in the price
OF labor, apparently SO favorable to the
success of domestic manufactures, have
not shielded them against other causes
adverse to their prosperity. The pecu-
mary endorsements which have SO
deeply affected the commercial interests
OF the nation, have been no less adverse
to our manufacturing establishments in
several sections Of the union. The great
reduction of the currency, which the
banks have been constrained to make,
IN order to continue specie payments,
and the vitiated character of it where
such reductions have not been attempt.
ed, instead OF placing within the reach
oil these establishments the pecuniary
aid necessary to avail themselves of the
advantages resulting from the reduction
of the prices of the raw materials, and Of
labor, have compelled the banks to with
draw from them portion of the capital
heretofore advanced to them. That aid,
which has been refused by the banks,
has not been obtained from other sources,
owing to the loss of individual conf
dence, from the failures which have re-
Gently occurred in some of our princi.
pal commercial cities.
An additional cause of the depression
ofthese establishments may probably be
found, in the pecuniary embarrassments
which have recently affected those coun-
tries with which our commerce has been
principally prosecuted.
Their manufactures, for the want of a
ready or profitable market at home, have
been shipped by the manufacturers to
the United States, and, in many in
stances, sold at price below their cur.
rent value at the place of manufacture.
Although this practice may, from its ma.
ture, be considered temporary, or con-
tingent, it is not on that account less in.
furious in its effects. Uniformity, in the
demand and price Of an article, is high