The Hawk-eye and Iowa patriot. (Burlington, Iowa) 1839-1843, 1840-12-31

long standing question OF controversies
thus removing the only obstacle which
could obs!ruct the friendly and mutually
advantageous intercourse between the two
nations. A messenger, has been des-
patched with the Hanoverian treaty to
Berlin, where according to stipulation, the
are to be exchanged. ! am
happy to announce to you that, after
many delays and difficulties, a treaty of
commerce and navigation, between the
United States and Portugal, was conclu-
ded and signed at Lisbon on the Goth of
August last, by the plenipotentiaries of
the two governments. Its stipulations
founded upon those principles of mutual
liberality and advantage which the Uni,
ted States have sought to make the basis
of their intercourse with foreign powers,
and it is hoped they will tend to foster
and strengthen the commercial intercourse
with the two countries.
Under the appropriation of the last
session of Congress, an agent has been
sent to Germany for the purpose of pro-
To
Merico.
The commissioners appointed under
the convention for the adjustment of claims
of citizens of the United States upon
Mexico having met and orgauized at
Washington in August last, the papers in
the possession of the government relating
to those claims were communicated to
the board. The claims not embraced by
that convention are now the subject Of
between the two governments
through the medium of our minister at
Mexico.
The southern republics and Teas.
Nothing has occurred to disturb the
harmony of our relations with the differ
ent governments of South America. |
regret, however, to be obliged to inform
you that the claims of our citizens upon
the late republic of Columbia have not
yet been satisfied by the separate govern
ments into which it has been resolved.
1t affords me pleasure to communicate
to you that the government of Chill has
entered into an agreement to indemnify
the claimants in the case of the Macedo-
Man, for American property seized in
1919, and to add that information has also
been received which justifies the hope Of
an early adjustment of all the remaining
claims upon that government.
The commissioners appointed in pur.
suance of the convention between the
United States and Texas, for marking the
boundary between them, have, according
to the last report received from our com.
missioner, surveyed and established the
whole extent OF the boundary north along
the western bank of the Sabine river,
from its entrance into the Gulf of Mexico
to the 23d degree of north latitude. The
commission adjourned on the 10th of
June last, to re-assemble on the LIST of
November, for the purpose of establish.
ing accurately the intersection of the 32d
degree of latitude with the western bank
of the Sabine, and the meridian line
thence to Red river. 1t is presumed that
the work will be concluded in the pre-
sent session.
THE treasury.
The present sound condition of their
finances, and the success with which en-
barrassments in regard TO them, at times
apparently insurmountable, have been
overcome, are matters upon which the
people and government Of the United
States may well congratulate themselves.
An overlooking treasury, however it may
be regarded as an evidence of public pros
perity, is seldom conducive to the perma-
nent welfare of the people, and expert
ence has demonstrated its incompatibility
with the salutary action of political insti-
tutions like those of the United States.
Our safest reliance for financial efficien-
cy and independence has, on the contra
ry, been found to consist in ample resour-
ces unencumbered with debt; and in this
respect, the federal government occupies
a singularly fortunate and truly enviable
position.
The bank suspension.
When | entered upon the discharge oil
my official duties in March 1897, the act
for the distribution of the surplus revenue
was in course of rapid execution. Near
ly twenty eight millions of dollars of the
public moneys were, in pursuance of its
provisions, deposited with the states in the
months of January, April and Jsiy, OF
that year. In May there occurred gen
eral suspension of specie payments by the
banks, including, with very few excep.
tlons, those in which the public moneys
were deposited, and upon whose fidelity
the government had unfortunately made
itself dependent for the revenues which
had been collected from the people, and
were indispensable to the public service.
This suspension, and the excuses in bank
ing and commerce out of which it arose,
and which were greatly aggravated by its
occurrence made, to great extent, una
valuable the principal part OF the public
money then on hand; suspended the col
lection Of many millions accruing on mer-
chants bonds; and greatly reduced the
revenue arising from customs and the pub
lie lands These effects have continued
to operate, in various degrees, to the pre-
sent period, and, in addition to the de.
crease in the revenue thus nroduced two