The Virginian. [volume] (Lynchburg [Va.]) 1822-1829, 1825-12-12

lions al hall and thai Which vii accrue
daring the c.trfsat qratfet. Is rslliuaiad III
fac mill ans aud a hilf: fron these thu
(, -one millions, deducll : ne dtaWbsck>.
estimated At les, than sts=,sn millions, II Sum
exceeding twenty four millions As III rnn-ti.
tote the rtvcnne OF the var H"d vii ~
crrd lie whole expenditures of the year.
tn" enlre amount Of public debit remain
ing due on the ifst of january next, VIII
Ice short of eighty one millions of i liars
BY an act Of Congress af the third 81
/ March last, ~ Loan oitwrlte million. ri dot
lars Ms authorised at four. and = half pes
cent. or AZ exchange al stock Ia that a.
mount of luur aud half per renf f,r .
stock Of six per cent. II create a fund
for rxtingulshl : an equal amount of th.
public d,ht, beallpg an Interest Of six
per cent. rrdeenabl, H. the year one thou
sand eight Huulred and twruty SIX. An
account ot the measures tsken Ia ei.e ct
feet Ia this act iii bee Laid before you bt
! The Secretary Of th- Treasury a the OBJ
Drct winch II had IN view h. been hat par
lIally accomplished. II Ill b. for The con
sldrration Of Congress, whether Ihc power
with which il clotecd the Executive should
n Il be renewed Al an rarly da, of lha pre-
~ session, and under whal nlndiheallous.
The act of Congress al the lhnd al
/ blirrh h,st, directing The Secretary / the
Treasury to -nb-crhr. in the name aud
! .nr tie nsn uf III United Staten IN onr
thousand five hnndred shares or tne capl-
III stuck of thu Chesapeake aud Delaware
tanal Company has been rAcc"tcd by lhc
trtual subscription for tn amount sprrtG-
ed; and such olhrr measures hsyr bee
'iopted by that officer under The act 10
t." iulfm, Ut Of IT'S lnlenilons req ares,
! Rae iatrsI accounts received at lhis lnpnr
tiot undertaking autho re the belief lhot
1t IS IN successful PROCESS.
The pay meuts INTO the Treasury from
proceeds Ui the sales OF the Pubic Lulds,
durlng the prcseoe year, were estimated 1t
one million OF dnlltrs. fhe actual receipt,
at the first two quarters have fallen Wy ht-
Tie short Of that sun: II In nof expected mat
the second hdf Of III, year Will be- equally
productive but In, income of tn ycu
from that source may noN he safely rsII.
mated al million and hall. Ihe act al
Congress of eighteenth May. i824, To pro-
vide Tor the rxtlngnlshmeul oI thr due debt
10 the United States by The purchasers Of
puChe lands, was limited IN lis operation oi
relief 10 The purchsse,, 10 thettuth Of ApIl
last. lis effect al the eud III In, qlatte, du-
ring which II expired, MAS 10 reduce thai
debt from ten Ia seven mllhpus. By me
operation II sImllar PRIOR laws al rtlet,
from aud since that of second March, 1911,
the debt bad bee reduced from upN ards
of twenty-five millions, II ten, IT Is eXcer-
dlngly desirable tat IL sppuld bt rNIn-
pushed altogether and - ftclllIat, that
contamination, recommend To ousrcra
the levlyal, tor une ytar moIe, Of thu Act "i
l8Ih May, eighteen hundred X twenty four
| with such Prov sinnM modification "a may
b" necessary 10 Burd The puhlc lnl"-
rests az INST fraud 1i,nl plaeucrs i the re
srlr of the rellnqlshrd land. The purcha-
,ers OF poblIc lands are among the most
useful oil our t.,lo"-cItizens and, since
the sJ stem Ufsale, for cash alone has been
introduced. great Indulgence has heen usl-
ly extended 10 those who had previously
purchased upon credit. Ghr debt which
had been contracted under the credit sales
had become ons,ild, AID IT'S extraction
was alike ddvanld buuS In the pa chaser
and the public. uadrr thr y stem II sales
matured, lis II has been, by experience aud
adapted 10 the eX gencIes of he times, the
lands will continue, as thy have hecoInr,
an abundant source Ui retrnur II when
the pledge # them 10 the pubic creditor
shat have been redeemed by the entire
discharge nf lhe national debt, the swelling
iIdr ii wealth with which tncy rrpculsf
toe common Treasury mad mad. t. r.
noN lapoluIleg streams al Iriprotenl'n
from lhr Atlantic To the Pacific Ocean.
Inc condition 9th various branches u
the public service resorling from the Depart
ment III War, aud their administration during
the current year. Nil he exhibited IN iIis Re
port from the secretary ol har, aud The &c
g.. company Ing document, herewith conmnl
, Gated. Tie Organization and discipline 81
the Army are effective aud satisfactory 10
counteract the prevalence ot drscrliun Il
moug The troops, II has been suggested Il
withhold from lhe men II .mHll Ibilion o
their monthly pay, until The prrIud ri thru
discharge aud .ome rNpedlent appeafs I,
be necessary 10 preserve and nalhlthn -
moug the lhcrrs 81 much OF the art oi horse
mnn,hip a. ca - scarcely full to be- foun,
, wanting. on the possible sudden eruption 81
war winch should ovcrlakc uS unpfDeidrt
with "A single carps Of cavalry, The Military
Academy AT West Point, under the restrict
"n' ol Il severe mt IhittuhI suptflhithu
: ence recommends itself more 4. more 10 the
. patronage OF tbe Naton . d. the number o
the mrritor,Uls ohi 81. which II form d. intro
dnce. IL the public service, furnishes The
mraas OF multiplying the undertakings al pub
, Improvements, 10 which thrlr requirement, e
that institution are prcl.larly adapted Ib'
3, school OF Artillery practice, established II
l Fortress Monroe, i, well -nlted to The sam'
P purpose and may need the aid loI further lc
gisiativs provision 10 the same end. The "
ports from the various officers at the head @
: the administrative brauthe. OF the miItar
service, connected with the quarcring cloth
, ing, Subsistence, health, and pay OF the army
, exhibit the a,,iduons 81 i"uce OF thpse ulll
LIZ -