The Arkansas banner., 1843-12-23

Govefnment Of Brazil has adjusted the clain upon that Government, in the case of the schooner "John S. Bryan" and that sanguint hopes are entertained that the same spirit O justice will influence its councils, iii arriving at an early decision upon the remaining claims, thereby removing all cause of dissen. sion between two Powers, whose interests are, to some extent, nterwoven with each other
 Our Minister at Chii has succeeded in in- duclng recognition, by that Government, o the adjustment effected by his predecessor, o the first claims in the case of the Macedo- dian." The first instalment has been re- ceived by the claimants in the United States
 Notice of the exchange of notifications oi the treaty with Peru, which will take place at Lima, has not yet reached this country but is shortly expected to be received, when the claims upon that Republic will doubtless be llquidated and paid.
 In consequence of misunderstanding be- tween this Government and that of Buenos Ayres, occurring several years ago, this Go- vernment has remained unrepresented at tha Court, while Minister from 1t has been con stanty resident here. The causes of irrita- ton have, in great measure, passed away, and 1t is in contemplation, in view of import ant interests which have grown up in that country, at some early period during the pre- sent session of Congress, with the concur renee of the Senate, to restore diplomatic re- lations between the two countries.
 Under the provisions of an act of Congress ,f tho loct T toba 1 from the United States to China, in August oi the present year, who, from the latest &C., counts we have from him, was at Suez, in Egypt, on the 25th of September last, on his route to China.
 In regard to the Indian tribes residing with in our iurisdictional limits, the greatest vigi- lance of the Government has been exerted, to preserve them at peace among themselves, and to inspire feelings of confidence in the justice of this Government, and to cultivate friendship with the border inhabitants. This has happily succeeded to great extent; but it is subject of regret that they suffer them selves, in some instances, to be imposed up on by artful and designing men-and this notwithstanding all the efforts of the Govern ment to prevent it.
 The receipts into the Treasury for the ca lendar year lS43, exclusive of loans, were little more than eighteen millions of dollars and the expenditures, exclusive of payments on the public debt, will have been about twenty-three millions of dollars. By the act of 1S42, new arrangement of the fiscal year was made, so that it should commence on the first day of July, in each year. The accounts and estimates for the current fiscal year, will show that the loans and Treasury notes made and issued before the close of the last Congress, to meet the anticipated def ciency, have not been entirely adequate. Al though on the first of October last, there was balance in the Treasury, in consequence ol the provision thus made, of S3,914,082 77. yet the appropriations already made by Con- gress will absorb that balance, and leave a probable deficiency of two millions of dol lars at the close of the present fiscal year. There are outstanding Treasury notes, to the amount of about four millions six hundred thousand dollars; and should they be return ed upon the Treasury during the fiscal year. they will require provision for their redemp- ton. do not, however, regard this as pro- bable, since they have obviously entered in- to the currency of the country, and will con- tinue to form portion of it, if the system now adopted be confirmed. The loan o lS41, amounting to $5,672, ,976 8S, falls duo on the first of January, l845, and must bt provided for, or postponed by new loan.- And unless the sources of revenue should bt materially increased by you, there will be ; probable deficiency for the service of the fsca year, ending June Both, 1S45, of upwards O about four millions of dollars.
 The delusion incident to an enormously excessive paper circulation, which gave fic- titious value to every thing, and stimulated adventure and speculation to an extrayagan extent, has been happily succeeded by tho substitution of the precious metals and paper promptly redeemable in specie, and thus false values have disappeared, and sounder con- dition of things has been introduced. This transition, although intimately connected with the prosperity of the country, has, ne vertheless, been attended with much embar- rassment to the Government in its financial concerns. So long as the foreign importers could receive payment for their cargoes in g currency of greatly less value than that in Europe, but fully available here in the pur- chase of agricultural productions, their pro- fits being immeasurably augmented by the operation, the shipments were large, and the revenues of the Government became supera- bundant. But the change in the character of the circulation from nominal and apparent ly real value, in the first stages of it's exist ence, to an obviously depreciated value in the second, so that it no longer answered the purposes of exchange or barter, and it's ulti- mate substitution by sound metallic and paper currency combined, has been attended by diminished importation, and consequent falling off in the revenue. This has induced Congress, from 1897, to resort to the expe- dent of issuing Treasury notes, and finally of funding them, in order to supply deficiencies. cannot however withhold the remark, that it is in no way compatible with the dignity of the Government that public debt should be created in time of peace, to meet the current expenses of the Government, or that tempo rary expedients should be resorted to an hour
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