Hawk-eye. [volume] (Burlington, Iowa) 1843-1845, 1843-12-28

grown up in that country, at some early pc
rico ouring the present session of Congress
u Win the concurrence Of the Senate, to re
store diplomatic relations between the wv
countries.
! under the provisions of an act OF Con
gfess, OF the last session, Minister wa
despatched from the United States to China
IN August OF the present year, who from tn
iates, accounts we have received from him
was at Suez. i'll Egypt on the 25th Septem
Der last, on his route to China
In regard to the Indian tribes residing
within our jurisdictional limits, the creates
vigilance OF the Government has been ex
efted to preserve them at peace among
themselves, and to inspire them with feel
! ihgs O; confidence in the Justice Of this Gov
/ eminent, and to cultivate friendship with
! the border inhabitants. This mas haonily
succeeded to great extent; but it is ST. b
iect Of regret that they suffer themselves,
III some Instances, 20 lie imposed upon By
Af'iui and designing nen--and this. not
"lthstandlig ali the efforts of the Govern
msnt 10 prevent it.
he receipts into the Treasury for the
ca lander year, l643, exclusive OF loans wer.
niue more than eighteen millions Of dol
!arS; ana the expenditures, exclusive O.
payments on the public debt, will have beer
about twenty three millions of dollars. B,
an act OF lo42, new arrangement of the
Iiscai year was nude, so that il should com
mence on the first day Of July in each wear
he accounts and estimates for the current
hscal year, will show that the loans and
| reasury notes made and issued before the
close OF the last Congress, to meet the an
iicipated dehclency, have not been entirely
adequate Although on the first Of Octo
ter last, there was balance in the Treasu
ny IN Consequence of the provision thus made
loi S3,9 U.s. -, yet the appropriation.
already made by Congress viii absorb thai
balance, and leave a probable deficiency oil
two millions Of dollars at the close of the
presen; tiscai year.
There are outstanding treasury notes te
about The amount of four millions six hun.
dicd Thousand dol'ars; ind should thew be
returned Upon tie treasury during the fiscal
year, they VIII require provisions for their
redemption. do not, however, regard this
as probable, since thcy have obviously en-.
tered INTO the currency Of tile country, and
VIII continue TO form portion of it, if the
system now adopted be continued The
loan OIL iS4l, amounting to S. ,672 .976 SO.
falls due on the Isl of January, 1875. and
must be provided for or postponed bv a new
loan. And unless the resources Of revenue
s'suuiu p2 materially ;ucre7SI;,, ~ yt,r5 mere
VIII be a probable deficiency for the ser.
wee o! the fiscal year, ending June 3Otb.
le4o, OF upwards Of four millions OF dollars.
he Gelusion incident to an enormously
excessive paper circulation, which gave a
hctiuous value TO every thing, and stimu.
lated adventure and speculation TO an ex-
Fa,igunt extent, has been happily succeed.
e. ~ the Substitution Of the precious met.
ais and paper promptly rcdeemable in
specie, and thus false values have disappear
cd, and sounder condition Of things has
been introduced. This Transaction. nj.
though Intimately connected with The nros.
ierty OF the county, has nevertheless been
attended With much embarra ssment to the
Government, in It's financial coucerns. So
long a. the foreign importers could receive
payment FOR their cargoes IN a currency of
greatly less value than that i'll Europe. but
uliy available here in the purchase of our
'gricuitural productions, their profits being
augmented by the operation, the
hlpments were larg. and tn. revenues Of
he Government became superintendent.
5ut the change in the character of the cir.
ulation from nominal and apparently
ed! value, i'll the first stages of its exist.
nee, to an obviously deprecated value n
Is second, SO that il no longer answered
he purposes OF exchange or barter, and its
] timatG Substitution by sound metallic
nd paper circulation combined, has been
TENDED by diminished importatons, and "a
onsequcnt falling off III the revenue. This
as induced Congress, from 1897, to resort
. the eypcdicnt Of issuing Treasury notes,
nd finally OF funding them, in order to
apply deficiencies. I Cannot, however.
lthhold the remark that it is in no way
,mpatiblc with the dignity Of the Govern.
tent that a public debt should be created
time OF peace to meet the current OK.
enses OF the Government, or that tempo.
ry expedleHts should be resorted to an
our longer than It IS possible to avoid
lem.
The executive can do 10 more than an.
y the means which Congress places in lis {
lnds for the support OF the Governments:
ID happily Tor the good of the country
10 Tor the preservation of its liberties. It
assesses no power to levy exactious on I
e people, or 10 force from them contri !
tions to the public revenue in any form C
can only recommend such measures as I
ny, In IFS opinion, be called for bv the Il
ants o! the public service, 10 CONGRESS. :
tn whom alone rests the power to "lav t
d collect taxes, duties, mp ports, and ex a
'es' This duty has upon several occa. t
ms heretofore been performed The pre- 4
at condition of things gives a tiattering "
omisc that trade and commerce are RAP. t.
y revivlng, and, fortunately for the coun. 81
7, the sources Of revenue have only to be a.
ened, in order to prove abundant. ir
Whiie we can anticipate no considerable 81
,rease in the proceeds of the sales of the 81
bic lands for reasons perfectly obvious to te
/, for several years to come, yet the pub p'
lands cannot otherwise than be regarded ST
the foundation Of the public credit. /
it'll SO large body Of the most fertile 81
Ids in the world under the control and 1t &C
, disposal of the Government, no one can ly
sonably doubt the entire ability of the TO
vernment to meet the engagements un- CT
every emergency. In seasons OF trial tn
difficulty similar to those through va
ich we are passing, the capitalists makes ar
investment in the Government stocks de
h the most assured confidence OF ulti- ne
te reimbursement; and whatever may tn
said in period OF great financial
sperlty. such as existed for some years ad