Piney Woods planter. (Liberty, Mi. [i.e. Miss.]) 1838-1840, 1838-12-22

feaSufV NOES, CONSTITUTES an aggrc-
gate of about forty millions Of dollars,
and viii sill leave il the Treasury
the balance before stated.
''Nearly eight millions OF dollars OF
Treasury notes are to be paid during
the coming year, in addition to thc or,
binary appropriations for the support
Of the Government. Tor both these
purposes. the resources of the Treasury
will undoubtedly be sufficient. if the
charges upon il are not increased be.
You'd the annual estimLtc. No excess,
however. is likeIy TO exist; nor can the
postponed instalmcns Of the surplus
revenue be deposited with the States.
nor any considerable appropriations
beyond the estimate, be made without
causing deficiency in the Treasury.
The great caution, advisable at all
times, of limiting appropriations to the
wants Of the public service, is render
cd necessary at present BY the pros
peclive and rapid reduction of the Tar
III; while the yigilant Jealousy, evden-
tly excited among the people by the
occurrences OF the last few years, as
sures US that they expect from their re-
representatives., and will sustain them in
the exercise ofthe most rigid economy.
Much can be effected by postponing
appropriations not Immediately requir-
ed for the ordinary public service, or
for any pressing emergency: and much
by reducing the expenditures where
the entire and immediate accomplish.
ment Of the objects in view is not indis-
pcnsable.
"When we call TO mind the recent
and extreme cmbarrassments produced
by excessive issues of bank papor, ag-
gravatcd by the uniorseen withdrawal
of much foreign capital, and the incvi-
table arrangement arising from the
distribution oil the surplus revenue a.
mong the States as required by Con-
gress; and consider the heavy expenses
incurred BY thc removed of indian
tribes; by the military operations in
Florida: and on account of The unnsn
ally large appropriations made at the
last two annual sessions of Congress
for other Objects; we have striking evil
dence N the present efficient sate OF
our finances. OF the abundant resources
OF the country to fulfil all its obliga-
iioaS. Nor is il less gratifying to find
thai the general business of the com
muaity, deeply affected as it has been.
is reviying with additional vigor. chas-
tened by the lessons of the past, and
animated by tho hopes Of the future.
by the curtailment of paper issues; BY
cnrbing The saliguino and adventurous
spirit Of speculation; and by the hon
ombIe application of all available
means to the iulhlment of obligations
confidence has been restored both at
homl and abroad, and case and facili-
~ secured 10 all the operations of trade.
The agency Of the 20, crnment il
producing these results have been as
efficient us its powers and means per
mittcd. BY Withholding from the
States the dcposites Of the fourth in
ssnlmont. and having several millions
at long crcdirs with the banks, princi-
pally in ono section Of the country.
and more immediately beneficial 10 It;
and at the same time aiding the banks
and commercial communities ia other
sections. by pos.poning The payment Of
bonds iol duties 10 the amount Of be.
tween loar and five millions Of dollars.
by an issue of Treasury notes as a
means TO enable the government 10
meet the consequences Of their indul.
gencics. but, atlording, at the same
time. facilities for northumberland ex-
change; and by steadily declining to
employ as general repositories Of the
public revenues, or receive the notes of
all banks which refused to redeem
them with specie; by these measures.
aided by The favorable action Of some
of the banks, and by the support and
co operation of a large portion Of the
community, We have witnessed an car
" resumption of specie payments in
oar great commercial capital, promptly
followed in almost every part Of the U.
States. This respll has been alike
'alutary to the true interests OF agricul-
.ure, commerce, and manufactures; to
public morals, respect for the laws, and
that confidence between man and man
which is so essential in all our social
relations.
"The contrast between the suspen-
zion Of l5l4 and that Of lS36is most
The short duration Of the
after; the prompt restoration Of busi-