Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1840-01-07


mcnt, has, by very unexpected construction
Of the treaty under which Il acts, decided that
no provision was made for those claims Of cit
liens Of the u. States which arose from cap
lures by Colombian privateers and were adj
judged against the claimants in the judicial
tribunals. This decision will compel the u.
States 10 apply TO the several Governments,
formerly united, for redress. With all these
New Grenada, VENEZUELA, and Ecuador, a
perfectly good understanding exists. Our
treaty with Venzucla is faithfully carried into
execution, and that country. in the enjoyment
of tranquility, is gradually advancing in pros
pcrity under the guidance Of its present dis
tipguished President, Gen. Paez. With Ecu
ador, a liberal commercial convention has
lately been concluded, which will be trasmit-
ted 10 the Senate at an early day.
WIN Tie greek Arneriosn Empire Of Brazil
our relations continue unchanged, as does our
friendly intercourse with the other govern
ments of South America--the Argentine Re-
public and the Republics of Uruguay, Chill,
Peru and Bolivia. The dissolution of the
Peru Bolivian Confederation may occasion
some temporary inconvenience 10 our citizens
in that quarter, but the obligations on the new
government, which have arisen on, of that
confederation TO observe its treaty stipuations,
presumed no indisposition will exs, 10 follow
those which il contracted with the United
States.
The financial operations of the Government,
during the present year have, ! am happy to
say, been very successful. The difficulties
under which the Treasury Department has la
bored from known defects in the existing laws
relative TO the safe keeping ofthe public mon
eys, aggravated by the suspension Of specie
payments by several oithe banks holding pub
lie depostes, or indebted to public officers for
notes received in payments of public dues,
have been surmountcd TO a very gratifying ex-
tent. The large current expenditures have
been punctually met, and the faith of the gov
eminent in all its pecuniary concerns has been
scrupulouslv 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 duty bonds,
and of the deposite banks in the payment of
public 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 now unredeema-
BILE falls short of three millions. On these the
chief portion is not due till next year, and the
whole would have been already cxtinguished
due to il from the banks. If those due from
them during the next year shall be punctually
made, and if Congress shall keep the appro-
priations within the estimates, there is every
reason to believe that all the outstanding trca-
sury notes can be returned, and the ordinary
expenses betrayed, without imposing any adj
ditional burden on the people, either of loans,
or increased taxes.
To avoid this, and to keep the expenditures
within reasonable bounds, is duty second
only in Importance to the preservation of our
national character, and the protection of our
citizens in their civil and political rights. The
creation, in time OF peace, of debt likely to
become permanent, is an evil for which there
is no equivalent. The rapidly with which
many Ofthe States are apparently approach
ing to this condition, admonlshes US of our
own duties, in manner too impressive TO he
disregarded. One, not the least important, is
tc keep the Federal Government ALWAYS in a
condition TO discharge, with ease and vigor its
highest functions. Should their exercise be
required by any sudden conjuncture Of public
aflairs-a condition to which we are always
exposed, and which may occur when it is
least expected. To this end it is ndispens-
BILE that its finances should be untrammeled,
and its resources, as far as practicable, unin-
greater obstacles to the accomplishment OF
these vitality important objects, than the crea-
ton of an onerous national debt, Our own
experience, and also that of other nations, has
demonstrated the unavoidable and fearful rap
idity with which public debt is increased
when the government has once surrendered
ltselfto the ruinous practice OF supplying its
supposed necessities by new loans. The
struggle, therefore, on our part, TO be success
full, must be made at the threshold. To make
our efforts effective, severe economy ~ neces
sary. This is the surest provision for the ma
tional welfare and it is, at the same time, The
best preseryative of the principles on which
our institutions rest. Simplicity and econom,
in the affairs of State have never failed Il
chasten and invigorate Republican principles
while these have been surely subverted b,
national pfodigality, under whatever specious
| pretexts II may have been introduced or ios
tered.
These considerations cannot be lost on a
people who have never been inattentive TO tho
effect Of their policy upon the institutions they
have created for themselves but at the pres
ent moment their force is augmented by the
necessity which a decreasing revenue must
impose. The check lately given to importa-
ton of articles subject TO duties, the derange-
ments in the operations of internal trade, and
especially the reduction gradually taking place
in our tariff Of duties, all tend materially "a
lessen our receipts indeed il is probable that
the dimnution resulting from the last cause
alone, will not fall short OF five millions OF
dollars in the year 1912, as the final reduction
of all duties TO twenty per cent. then takes eff
feet. The whole revenue then accruing from
the customs, and from the sales Of public lands
if not more, will undoubtedly be wanted TO
defray the necessary expenses Of the govern
ment under the most prudent administration