Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1843-12-23

| have much pleasure IN saying that The Gov. 1
eminent Of Brazil has adjusted the claim upon
that Government in the case Of the schooner
"John s. Bryan" aud that sanguine hopes are
entertained that the same spirit Of justice will in
huence its councils in arriving at an early decision
upon the remaining claims; thereby removing all
cause Of dissenton between two Powers, whose
interests are 10 some extent interviewer with each
other. ~ ,'s
Our Minister at Chill has succeeded in ndu
cling recognition by that Government, OF the
adjustment effected by his predecessor, OF the first
claims in the case Of the Macedonian" The
first instalment has been received by the clai
mants in the United States.
Notice Of the exchange Of rati6catons OF the
treaty with Peru, which will take place at Lima
has not yet reached this country, but is shortly
expected 10 be received, when the claims upon
that Republic will doubtless be liquidated and
paid.
In consequence Of misunderstanding between
this Government ard that of Buenos Ayres, &C.
curing several years ago, this Government has
remained unrepresented at that court, while mi.
mister from it has been constantly resident here.
| The causes OF irritation have in great measure
passed away, and it is in contemplation, in view
OF important interests which have grown up in
that country, at some early period during the pre-
sent session Of Congress, with the concurrence OF
the Senate, TO restore diplomatic relations be
tween the two countries.
Under the provisions Of an act OF Congress OF
the last session, Minister was dispatched from
the United States 10 China, in August of the pre-.
sent year, who, from the latest accounts we have
from him. was at Suez, in Egypt, on the 25th Of
September last, on his route TO China.
In regard 10 the Indian tribes residing within
IL r
the Government has been exerted TO preserve
them at peace among themselves, and TO inspire
them with feelings OF confidence in the justice Of
this Government, and to cultivate friendship with
the border inhabitants. This has happily succeed
ed TO great extent; but i, is subject OF regret
that they suffer themselves in some instances, to
be imposed upon by altfu and designing men
and this notwithstanding all the efforts Of the
Government to prevent it.
The receipts into the Treasury for the calendar
year, l943, exclusive Of loans were little more
than eighteen millions Of dollars; and the expsn.
dtures, exclusive of payments on the public
debt, will have been about twenty three millions
OF dollars. BY the act of 1912, new arrange.
ment Of the fiscal year was made, so that il
should commence on the LIST 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 oil
the last Congress. 10 meet the anticipated def
cheney, have not been entirely adequate. Altho'
on the lit OF October last, there was balance
in the Treasury in consequence OF the provisions
thus made of 1894 0S2 H. yet The appropria.
tons already made by Congress will absorb that
bslance, and leave probable deficiency OF two
millions Of dollars at the close Of the present ifs,
cal year. There are outstanding Treasury notes
TO about the amount Of four millions six hundred
thousand dollars; and should they be returned
upon the Treasury during the fiscal year, they
will require provisions for their redemption.
do not however regard this as probable, since they
have obviously entered into the currency Of the
country, and will continue to form portion OF il
:, if the system now adopted be continued. The
i loan OF 1871, amounting to S5,672,97 6S
falls due on the 1st OF January, 1915, and must
, be provided for or postponed by new loan
And unless the resources Of revenue should be
j. materially increased by you, there will be prob
T. able deficiency for the service OF tine fiscal veal
ending June 30th, 1915, OF upwards Of -four
millions OF dollars,
i The delusion incident to an enormously e1
cessive paper circulation, which gave fictitious
value 10 every thing, and stimulated adventure
" and speculation 10 an extravagant extent, has
been happily succeeded by the substitution Of the
i precious metals and paper promptly redeemable
. in specie, and thus false values have disappeared
q and sounder condition Of things has been in
a uoduced, This transition although intimately
l. connected with the prosperity Of the country has
nevertheless been attended with much embarrass
T. ment 10 the Government in its financial concerns.
y So long as the foreign importers could receive
payment for their cargoes in a currency Of great
! y less value than that in Europe, but fully avail
e able here in the purchase Of our agricultural pro
! ductions, their profits being immeasurably aug
, mented by the operation, the shipments wert
d large and the revenues Of the Government be
II came superabundant. But the change in TIT
7 character Of the circulation from a nominal ant
apparently real value, in the first stages Of its ex
stence, TO an obviously deprecated value in il
D. second, so that it no longer answered the purpo
u ses OF exchange or barter, and lis ultimate sub
e stilution by sound metallic and paper circula
! lion combined, has been attended by diminished
% importations, and consequent falling off in tn
II revenue.
- This has induced congress, from 1897, TO I
II the expedent OF issuing treasury notes. and tina
1l of funding them, in order to supply deficiencies.
cannot, however withhold the remark hat il is in
, way compatible with the dignity of the government
! that bile debt should be created in time of peac
T. 10 meet the current expenses OF the government,
O that temporary expedienis should be resotted to
j. hour longer Than it is possible TO avoid them. TIL
executive can do no more than apply the mean
which congress places in its hands for the support
government; and happily for the good of the count
and for the preservation OF its liberties, II possesse
10 power to levy exaetons on the people tore
from them contributions to the public revenue in an