Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1840-01-14

- VIZ Ott0l - - a Hui 90 " Scuu Specldl
agent to Central America, to close the af.
fairs of our mission there, aud to arrange
with the Government an extension of the
time for the exchange Of notifications.
The commission created by the States
which formerly composed the Republic of
Columbia, for adjusting the claims against
that Government, has, by very urexpec.
ted construction of the treaty under which
it acts, decided that no provision was made
for those claims of citizens Of the United
States which arose from captures by Co.
lumbar priyateers, and were adiudged
against the claimants in the judicial tribu.
mails. This decision will compel the Uni
ted States to apply to the several Govern
ments formerly united for redress. With
all these-New Granada, Venezuela, and
Ecuador, a perfectly good understanding
exists. Our treaty with Venezuela is
faithfully carried into execution, and that
country, in the enjoyment of tranquility,
is gradually advancing in prosperity under
the guidance of its present distinguished
President, General Paez. With Ecuador,
liberal commercial convention has lately
been concluded, which will be transmitted
to the Senate at an early day.
With the great American Empire of
Brazil our relations continue unchanged,
as does our friendly intercourse with other
Governments of South Amerca-the Ar.
gentine Republic, and the Republics Of
Uruguay, Chill, Peru and Bolivia. The
dissolution ofthe Peru Bolivian Confeder.
alton may occasion some temporary incon.
venience to our citizens in that quarter,
but the obligations on the new Govern.
ments which have arisen cut of that Con-
federation to obser rye its treaty stipulations,
will no doubt be soon understood, and il
is presumed that no indisposition will ex.
ist to fulfil those which it contracted with
the United States.
The financial operations of the Govern
ment during the present year have, | am
happy to say, been very successful. The
difficulties under which the Treasury De-
partment has labored from known defects
in the existing laws relative to the safe
keeping of the public moneys, aggravated
by the suspension Of specie payments by
several of the banks holding public depos-
ties, or indebted to public officers for notes
received in payment Of public dues, have
been surmounted TO very gratifying ex-
tent. The large current expenditures have
been punctualy met, and the faith of the
Government in all its pecuniary concerns
has been scrupulously maintained.
The nineteen millions Of Treasury notes
authorized by the act of Congress of 1887,
and the notifications thereof, with a view
to the indulgence of merchants on their
duty bonds, and of the deposte banks in
Repayment fpublic moneys held by them,
have been so punctually redeemed as to
leave less than the original ten millions
outstanding at any one time, and the whole
amount nnrndannnnd 1aas1, falls short Of
three millions. Ofthese the chief portion
is not due till next year, and the whole
would have been already extinguished
could the Treasury have realized the pay
ment due TO it from the banks. If those
due from them during the next year shall
be punctually made, and if Congress shall
keep the appropriations within the estim-
ates, there is every reason to believe that
all the outstanding Treasury notes can be
redeemed, and the ordinary expenses de-
frayed, without imposing on the people
any additional burden, either of loans or
increased taxes.
To avoid this, and to keep the expendi-
lures within reasonable bounds, is a duty,
second only in Importance to the preserva-
ton of our national character, and the pro-
lection of our citizens in their civil and
political rights. The creation, in time of
peace, of debt likely to become perma-
nent, is an evil for which there is no
equivalent. The rapidity with which ma
ny of the States are apparently approach
ing to this condition, admonishes US ofour
own duties, in a manner too impressive to
be disregarded. One, not the least i'm
portant, is to keep the Federal Govern
ment always in a condition to discharge
with ease and vigor, its highest functions,
should their exercise be required by any
sudden conjuncture ofpublic affairs-a con.
diiion to which we are always exposed
and which may occur when it is least ex-
pected. To this end, it is indispensable
that its finances should be untrammelled,
and its resources, as far as practicable, un-
incumbered. No circumstance could pre-
sent greater obstacles to the accomplish.
ment of these vitality important objects,
than the creation of an onerous national
debt. Our own experience, and also that
of other nations, have demonstrated the
unavoidable and fearful rapidity with which
a public debt is increased, when the Gov
eminent has once surrendered itself to the
ruinous practice of supplying IFS supposed
necessities by new loans. The struggle,
therefore, on our part, TO be successful
must be made at the threshold. To make
our efforts effective, severe economy is
necessary. This is the surest provision
for the national welfare and it is, at the
same time, the best presersative of the
principles on which our Institutions rest
Simplicity and economy in the affairs O
State have never failed to chasten and In
vigorate Republican principles, while these
have been as surely subverted by nation
al prodigality,under whatever specious pre-
| texts IT may have been introduced or fos
| tered.
i These considerations cannot be los
upon. a people who have never been mat
tentiye to the effect of their policy upon tht
institutions they have created for them
selves but at the present moment thei
force is augmented by the necessity whicl
a decreasing revenue must impose. ThI
check lately given TO irnportations Of arti
cles subject to duties, the arrangements il
the operations Of internal trade, and espe