Sunbury American and Shamokin journal. [volume] (Sunbury, Northumberland Co., Pa.) 1840-1848, 1843-12-09

Nnllc we can anticipate no considerable in
crease in the proceeds vi the sales O: the public
lands for reasons perfectly Obvious to all. fer
several years TO come, yet the public lands can.
not otherwise than be regarded as the founda.
tnn OF the public credit. With so LARGE a bo.
dy oi the most fertile lands in the world under
the control and nt the disposal of the Govern
mcnt, no one can reasonably doub; the entire
ability of the Government to meet its engage
mcnts under every emergency. In seasons of
trial and difficulty similar TO those through
winch we are passing, the capitalist makes his
investment IN the Government stocks with the
most assured confidence Of ultimate reimburse
hcn' ana whatever may be said in period of
great financial prosperity, such as existed for
some years after lS33. | should regard i, ms
sucial in season of financial embarrassment.
either to ALLEVIATE the lands themselves. or the
proceeds arising from their sales. The first
aud paramount duty OF those to whom NAV be
entrusted the administration of public affairs is
to guard the public credit.
In ic-cs'ahllshng the credit Of tins central Gov.
! einIn Mt the rcadic,t aud most Obvious mode is
taken 'o restore the credit Of the States. The
cAtrcmI,cs can only he made sound by prodrcinc
a healthy action in the Central Government and
,he history of the pr son, day fully establishes the
fict that an increase in the value of the stocks of
this Government will, in u m iori,y of instances,
he attended by an increase in the value Of the stocks
oi the States. IL should, therefore, 10 m tier of
general congraiultion that amidst all the cml,rrass-
mrns arising fiom surrounding circumstances the
credit cf the Cover mcht should have been so fully
restored that IL has been cnabl to effect loan of
seven millions of dnlIar~ 10 redeem that amount of
rchsury notes. on terms moro favorable than any
That have been offered for many years. And tho
six per cent. stick which was created in ls42 has
| ivanccd In the hands of the holders TO nearly
twenty per cent. above its par value.
The confidence Of the Ecoplr in the integrity of
Their G",ernn' mt has thus been sign.llv NANTES.
/ ted. These opinions r'a,ivc to the public lands do
ho' ~ any manner conflict with the Observance o6
10" most liberal policy towards those II our fellow
CT Z"ns WHO press f'rHa!d into the. Wilderness an |
a'' the lnn' es III The work of lis reclamation. In
securing to all such their right of PIE cmption the
Govtrnmtn mt perfoi ms bu mn act Of re- rihuve ins
ice Tor suii' rings encountered ard hrdships en-.
| du'td, and finds ample remuneration in the COM
i'Its which is policy iEsures and the happiness
which i, impars.
| Should a revision of the tariff with view to re-
venue, hecome necessary in the estimation of Com
eresS, doubt no, you will approach the subject with
just aud enlightened regard t. the interests of the
Whole Union. Tre principles and views which 7
hh'e heretofore had occasion TO submit remain un.
! changed II can, howrver, never hc too often
repeated, iha, the prominent Interest of every i'm
Porant pursuit of life requires for success Ie,ma-
/ nency and stability in legislation These can only
DO attained hy adopting the basis OF rct"n.
moderation in oil things, which is Is ind spenssbly
necessary 10 secure the harmoni Us action of the
! political as Of the animal system. In our political
"rgariz iInn, no one section If The county should
'esne To have its supposed interests advanced at
the sacrifice Of all Others hut Union he;ng the
great interest, equally precious to all, should be
iosteied and sustained hy mutual concessions and
the cultivation of that spri, Of conn romise from
which til" constitution isef proceeded.
| In recommending III" issue Of Treasury Notes as
a circulating medium. the President says,
In view efthe disord.red condition Of the currcn-
| cy at the time, and the high rates ofeschange be-
tween different parts of the country, | (, Il il to te
incumbent on me, 10 present 10 the consideration
of your predecessors, proposition conflicting in
! no degree with the Constitution or with the rights
OF the STATES, and having the sanction 10. in de-
tail, hu, in principle, of some of the eminent men
| who had preceded me in the Executive office.
That p'opo,l'i'n contemplated the issuing Of
Treasury notes of denominations not less than five
nor more than one hundred dollars, To be employ
ed IN tn" PAY mcnt of the ohligat ions If the Govern.
mcnt in lieu of goiI and silver nt the option of the
| public creditor and Ia an amount not exceeding
SId,o0O,o00, Ii was proposed to make them rc.
crI'ahlc every where and 10 establish at yariou.
points drp"s'tnrics of gold ard silver To lie held iIl
trust for the redemption Of such noCs so as to in.
sure tier convcribty into specie.
After giving some general views on the subject
Of the currency, the President says:
Under all tie responsibilities attached to tho sta,
tion which occupy, aud in r,dcmprion of plcdrr
given 10 the lat Congress at the cl,sc of its frs,
session. su mirlrd The suCgcs ion to It's ron, lcr
alton at lwn consecutive sessions. The rccnmmcn.
4, H.,
Will" am iIcc IN admir-, that the necessities of
. the times have since become greatly ameliuraicd,
aud that iAee is good reason To hope that the coun.
Try i safely and r,ldly Cme cing iIOm the diff
cuucS and "mhaTa,Smenrs which ,vrry where
surrounded it in lSil yeti clnnol hu, think tia,
It's "'Storati'n 10 a sound and healthy condi,ion
| would hr greatly expedited hy a resort TO the
, cyY"dIcni IN modified form.
The repo.t nt the Secretary Of War will hing
You acquainted with the CONDITION of that important
branch of the public ,cnicc. The Army NAV be
| regarded IN conseqn'ncc of the small number the
! rank aud file IN each Company and Regiment as
hltle more than nucl,us around which 70 raly the
military ioTcc q" tho country IN of war, aud vet
lis ser'"cs IN preserving the peace of the ironti,I,
are at a most important nature. In all cases of
/ cmt tTgoncy, the nlaucr of the county is mnprrly
/ placed IN the militia OF the several Statcs and it
may well dcS I'VE the consideration of Congress
! "ht'of ne" ahd more perfect organ r"n might
not he nir"drC,d, ln hing mainly Ia the volunteer
companns uf the Union TT he present and of asy
application 10 the great body of the mlria in time
1
Tn" expenditures of the War Department have
been considerably reduced IN the i,sr two Yeas;
contingencies, however may arise, which would
call for the filling up oi The regiments with full
con i|rn"nt h hen, aud make it very desirable Il,
| rm"unt the corps ot DTaRoons, which hy an act Of