The Portland gazette. [volume] (Portland, Me.) 1818-1824, 1820-11-21

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sideripg all circumstances which must have
weight in producing the result, that an sd-
justment will finally take place, on the basis
proposed by the Colonies. To promote that
result, BY friendly connsels with other powers,
including Spain herself has been the uniform
policy OF this government.
In looking 10 the internal concerns of our
country, you will, am persuaded, derive
much satisfaction from view Of TIE several
| objects TO which, in the discharge Of your Off
| cial duties, your attention will be drawn. A
,oong these, none holds more important place
than The public revenue, from the direct cpe-
ration Of the power by which il is raised. on
the people, and by its influence in giving effect
10 every other power OF the government. The
revenue depend, on the resources Of The coun
try, and the facility by which the amount re-
qured Is raised, is strong proof OF the extent
of the resources, and Of the efficiency Of the
government. A few prominent facts will place
this great interest IN just light before you.
On The 30lh September, 1915. the funded and
floating debt Of the United States was one
hundred and nineteen millions six hundred and
thirty FIVE thousand five hundred and fifty
mount OF the FIVE per cent Stock. subscribed to
The Bank of the United States, the amount of
Mississippi Stock, and OF the Stock which was
issued subsequently 10 that date, the balances
ascertsined 10 be due 10 certain States, for
military services, and to individuals, for sup
plies furnished, aud services rendered, during
The late war, the public debt may be esiimat-
ed as amounting a, that date, and as afterwards
liquidaied, to one hundred and fifty eight mil
lions sesen huDdtDd aud thirteen thousand for
ty nine collars. a On The 30th Ct September,
1890, amounted TO nine:y one millions nine
hundred and h.nsty three thousand eight hun
dreG and eighty three dollars, having been re
duced in that interval, by payments, sixty six
millions eight hundred and seventy nine thou
sand one hundred aud sixty Iive cellars. Dor
ing this 'erm, the expenses Of he government
OF the United States were likewise betrayed,
in every branch Of the civil. military and ma.
val establishments the public edihces in this
city have been rebuilt, with considerable ad
diiions; extensive fprtiications have been COM
nenced, and are IN a train Of execution per
manent arsepsls and magazines have been
erected in various parts Of the UnioD our ma
Wy has been considerably augmented. and The
ordnance, munitions OF war, and stores Of The
army and navy, which we're much exhausted
during the war, have 1een lepleu.sbed.
BY the discharge OF SO large proportion Of
the public debt, and the execution OF such ex
tcnsivc and important operations, in so shsr; a
time, Just estimate may be formed OF the
grea, extent Of our national resources. The
demonstration is the more complete and graft
flying, when il is recoected that The dsrec,
tax and excise wcra repealed soQn after the
termination Of the ,la.e war, ANDY the rev.
en'ue applied TO i6gsc purposes has been de-
rived almost wholly from other sources.
The recaipls into the Treasury from every
source, TO the 30ih Of Sept. last, have amount.
ed to sixteen millions seven hundred aud ninety
four thousand one hugdred and seven dollars
and sixty SIX GEMS; ehiIst the public expen-
diiures. io,the same ptr,od. amounted TO six.
teen millions a,eh, iftndred AID seventy one
thousand five hundred and thirty four dollars
and seventy two cents leaving ~. ihs T,sssu-
ry, on that day, sum est,usaied at one mil
lion nine hundred and fifty Thousand dollars
For The probable receipts oil ,hr hIosing year,
! refer you to ihe statement which will be
Transmitted from che Treasury.
The sum otthiee millions of dollars author
ised to De raised by loan, by an act OF the las,
session OF Congress, has been obtained Upon
terms advantageous to the Government. indi,
eating no, only All increased confidence in the
faith of the naiIpn, burtae existence OF large
amount Of capital seeking thai mode of Invest
meni at rate Of interest nvt exceeding five
per centum per annum.
Iii. proper TO add. that there is nov due 10
the Treasury, for the .ale o! public lands,
twenty two millions nte hundred and ninety
six thousand FIVE hundred and forty i've dollars.
Ia bringing this subject 10 view, consider j:
my duty IN submit 10 Congress, whether il may
not he advisable TO extend TO the purchasers OF
these lands in consideration Of the unlayorabe
change which has occurred since The sales,
| reasonable indulgence. II is known that the
purchases were made when the price Il every
article had risen TO lis greatest height and that
the instalmsnis are becoming due at period
Of great depression Il is presumed that some
plan may be devised by the wisdom of Con
grcss, compatible with the public interest,
which would afford great relief to these pur
cbssers a.
Considerable progress has been made, dur
ing the present season, in examining The coast
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