Bloomington herald. [volume] (Bloomington, I. T. [Iowa]) 1840-1849, 1841-12-31

dealings are to be carried on at the the lowest
possible premium, are made to rest on an UNI
questionably sound basis, are designed to re-
imburse merely the expenses which would 9TH
erwise devolve upon the treasury, and are IN
strict subordination to the decision OF the SUI
preme Court, in the case of the Bank Of Angus
ia against Earle, and other reported cases and
thereby avoids all conflict with State jurlsdlc-
ton, which hold to BIZ indispensably requi-
site.
1t leaves the banking privileges the States
without Interference, looks to the treasury and
the Union, and while furnishing every facility
to the first, is careful of the interests of the last
But. above all, tits created by law, is amend
able by law, and is repealable by law; and
welded as am to no theory, but looking sole
ly to the advancement of the pubic good shall
be among the very first to urge its repeal, If it
iects for which it may be created. Nor will
idence in the sufficiency of my own judgment,
but with much greater reliance on the wisdom
and patriotism Of CONFESS. cannot abandon
this subject without urging upon you, in the
most emphatic manner, whatever may be your
action on the Suggestions, which | have felt it
my duty to submit, to relieve the Chief Exec
utive Magistrate, by any and all constitutional
means, from controlling power over the pub
lie Treasury. If, in he plan proposed, should
you deem it worthy Of your consideration that
separation is not as complete as you may de-
sire you will doubtless amend it in that partic-
ular. For myself dyscaim all desire to have
any control over the public moneys, other than
| what is indispensably necessary to execute the
laws which you may pass.
State Debts.
Nor can fail to advert, in this connection,
to the debts which many of the States Of the
Union have contracted abroad, and under which
they continue to labor That Indebtedness a.
| mounts to sum not less than 100000, 900,
and which has been retrlbuted to them, for the
| most part, in works of internal improvement,
| which are destined to prove of vast importance
| in ultimately advancing their prosperity and
wealth. For the debts thus contracted, the
States are alone responsible. | can do no
| more than express the belief that each State
will feel itself bound by every consideration of
| honor as we'll as of interest, to meet its en-
gagements with punctuality. The failure,
| however, Of any one State to do so, should in
no degree effect the credit of the rest; and the
foreign capitalists will have no just cause to
experience alarm to all other State stocks, be-
cause any one or more as the States may neg
| lect to provide with punctuality the means Of
redeeming their engagements. Even such
States, should there be any, considering the
great rapidity with which their resources are
developing themselves, will not fail to have
| the means, at no very distant day, to redeem
their obligations to the very uttermost farthing;
| nor will doubt but that in view of that honora-
| BILE conduct which has evermore governed the
| States and the people of this Union, they will
| each and all resort to every legitimate expedi-
| ent before they will forego faithful compli-
ance with their obligations.
| War Department
| From the report of the Secretary of War,
and other reports accompanying it, you will
| be informed of the progress which has been
made in the Notifications designed for the pro-
lection of OAR principal cities, road-steads, and
inland frontier during the present year; toge,h-
er with their true state and condition. They
will be prosecuted to completion with all the
| expedition which the means placed by Con-
gress at the disposal of the Executive will al
| low.
recommend particularly to your considera-
ton that part of the Secretary's report which
proposes the establishment of chain of mill
tary poats, from Council Bluffs to some point
| on the Pacific ocean, within our limits. The
benefit thereby destined to accrue to our citi-
zens engaged in the fur trade over that wilder
ness region, added to the importance of cultiva-
ting friendly relations with the savage tribes
| inhabiting it, and at the same time of giving
protection to our frontier settlements, and of
establishing the means of safe intercourse be-
tween the American settlements at the mouth
of Columbia river, and those on this side of
the Rocky mountains, would seem to suggest
the importance of carrying into effect the re-
concentrations upon this head with as little
delay as may be practicable.
Macy Department.
The report of the Secretary Of the Navy
will place you in possession of the present
condition of that important arm Of the national
defence. Every effort will be made to add to
its efficiency, and cannot too strongly urge
| upon you liberal appropriations to that branch
of the public service. Inducements of the
weightiest character exist, for the adoption of
this course of policy. Our extended and other
wise exposed maritime frontier calls for pro-
lection, to the furnishing of which an efficient
naval force is indispensable. We look to no
foreign conquests, nor do we propose to enter
into competition with any other nation for
supremacy on the ocean: but it is due, not
only 10 the honor, but to the security of the
people of the United States, that no nation
should be permitted to invade our waters at
pleasure and subject our towns and villages to
couaagration or pilage. Economy in all BRAN