Maumee City express. [volume] (Maumee City, Ohio) 1838-184?, 1840-01-11

'e States which arose from captures by Colon
J. bian prlvateers. and were adjudged again
If the claimants in the judicial tribunals. Th
l. decision will compel the United States {
: apply to the several Governments formerl
J. united for redress. With all these-Ne,
J. Granada, Venezuela, and Ecuador, a pei
h fectly good understanding exists. On
It treaty with Venezuela is faithfully carrie
r INTO execution, and that country in the er
: Joyment of tranquility, ls gradually advon
t eng IN prosperity under the guidance of il
h present distinguished President, Genera
1 Paez. With Ecuador, liberal commercit
\ convention has lately been concluded, whic
e VIII be transmitted to the Senate at an ear
I ly day.
With the great American Empire of Bra
! zil our relations continue unchanged, a
does our friendly intercourse with the othe
: Governments of South America-thc Ar
j gentlnc Republic, AMI the Repu blcs of Ur
: uguay Chill, Peru aud Bolivia. The Gsso
l luton of the Peru Bolivian Confederation
may occasion some temporary lnconven
, ience to our citizens in that quarter, but thu
obligations on the new Governments which
have arisen out of that Confederation to oh
, serve its treaty stipulatons, will no doubt bt
, soon understood, and it is presumed that ne
indisposition will exist to fulfil those whicl
1t contracted with the United States.
The financial operations of the Govern.
ment during the present year, have, an
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 keep.
ing of the public moneys, aggravated by the
suspension of specie payments by several
of the banks holding public deposites, or in.
debtcd to public officers for notes received
in payment Of public dues, have been sur
mounted to very gratifying extent. The
large current expenditures have been pune.
tualIy met, and the faith of the Government
in all its pecunilry concerns has been scru-
pulOusly maintained.
The nineteen millions of Treasury notes
authorized by the act of Congress of 1887,
and the notifications thereof, with view
to the indulgence of merchants on their du
ty bonds, and of the deposte banks in the
paymen: of public moneys held by them,
have been so punctuaIly redeemed as to
leave less than the original ten millions out
standing at any one time, and the whole
amount unredeemed now falls short of three
millions. OF these the chief portion is not
due till next year, and the whole would have
been already extluguished could the Trea-
sury have realized the payments 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 ap-
preparations within the estimates, there is
every reason to believe that ali the out
standing Treasury notes can be redeemed,
and the ordinary expenses betrayed, with
out 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 duty,
second only in Importance to the preserva-
ton of our national character, and the pro-
lection of our citizens in their civil and po-
Iiical rights. The creation, in time of
peace, of a debt likely to become permanent,
is an evil for which there is no equivalent.
The rapdity with which many of the states
are apparently approaching to this condi-
ton, admonlshes us Of our duties, in a man
ner too Impressive to be disregarded. Ore,
not the least important, is to keep the Fed
eial Government always in a condition to
discharge, with ease and vigor, its highest
functions, should their exercise he required
by any sudden conIuncture Of public affairs
"a condition to which we are always eX
posed, and which may occur when it is least
expected. To this end, it is Indispensable
that its finances should be untrammeled,
and It's resources as far as practicable, un
lncumbercd. No circumstance could pre-
sent greater obstacles to the accomplish
ment of these vltaly important objects, than
the creatlon of an onerous national DEBT.
Our own experience, and also that of other
nations, have demonstrated the unavoidable
and fearful rapldity with which public debt
is increased, when the Government has
once surrendered tself to the ruinoLs prac-
tice of supplying its supposed necessities
by new loans. The struggle, therefore, on
our part, to be successful, must be made at
the threshold. To make our efforts effnc-
tive, severe economy is necessary. This is
the surest provlsiontor the national welfare:
and it is, al the same time, the best preser
vatve of the principles on which our instl
tutions rest. Simplicity and economy IN the
affairs of state have never failed to clIasten
and invigorate Republican principles, while
these have been as surely subverted by ma
tionol prodgality, under whatever spccIous
pretexts it may have been introduced or
fostered.
I hese considerations cannot be lost upon
a people who have never been inattentive
TO the effect of their policy upon the instl-
tutons they have created for themselves;
but at the present moment their force is
augmented by the necessity which de-
creasing revenue must impose. The check
lately given to importations of articles sub
iect to duties, the arrangements in the op-
erations of internal trade, and especially the
reduction gradually taking place in our ia
riff of duties, all tend materially to lessen
our receipts; indeed it is probable that the
dminution resulting from the last cause
alone, will not fall short of five millions OF
dollars in the year 1842, as the final redGc-
ton of all duties to twenty per cent. then
takes effect. The whole revenue then ac-
cruing from the customs, and from the sales
of public lands, if not more, will undolbt-
edly be wanted to defray the necessary ex-
penses of the Government under the most
prudent administration of its affairs. These
are circumstances that impose the necessity
of rigid economy, aud require its prompt
and constant exercise. With the lIegls!a-
ture rest the power and duty of ST. adjust
inr the public expenditure as to promote this