The Evansville journal. (Evansville, Ind.) 1834-184?, 1844-12-12

To this may be added the loan by the former
operations of the Treasury from various trust
funds; which should be replaced as speedily as
possible, particularly the amount narrowed from
the 3 per cent, Fund, which is much needed aud
loudly called for by various counties to which it
belongs.
In this state Of our offairs and preparatory to
action on the subject, it behooves us to CAREFUL
ly survey the Whole ground, aud note the obsta
cles which beset our path.
1t is far more difficult to pay the interest on a
foreign. than on a domestic debt. In the former
cuss. there Is an IL nnual drain of the precious
metals, which directly (and under the present
banking system, to II far greater extent, indi-
rectly0 dInlnIShes the circulation OF the coun-
Try. In the latter case the inter esl is paid to the
citizens residing In the same country, in the To-
cal curTency-it still renla ms in the same com
munity, and no material dlminution in the circu-
latIOn ls occasloned.
The government of Great Britain would be
crushed under the weight of its immense debt,
were it not due 10 its own subjects. There GU
erous taxes could not be borne, If they were not
simultaneously received from, and paid out to
persons inabiling the same country, A constant
drain of specie cannot be long sustained by any
country, unless the vacuum thereby accustomed
is from time TO time replenisbed blythe exporta-
tion of industrial products.
The same is true OF our foreI On commerce.
Cash payments for balance in favor of imports
would, if continued, shortly drain the whole
country os specie. Before that time could ar
rive, however, the greater cheapness OF Thu sta
Piles, arising from the accumulation at home.
aud the scarcity OF money caused by its being
sent abroad, would oc casiOn the former to be ex-
changed for the latter, and the equilibrium
would be restored. The comparatively small
amount OF specie brought into theUnitcd States,
by Immi grafton, or produced from our mines,
cannot be relied on for restoring those balances,
in as much as it scarcely keeps pace with the ra-
pid growth of our population, as compared with
other countries The balance OF the trade OF
the u. States may at times be un favorable. But
in that case il will soon be restored by q cores
ponding excess OF exports. But ii II is at once
/ restored bv cash pa yuents, still there must be an
excess of exports afterw ards, 10 supply the loss
oil currency occasioned by such payments, whtch
amounts TO the same thing. Fhus, while our
own commercial history shows these vibrations
in trade, it also establishes the TACT that the ay-
erage exports aud imports of the u. States are
equal. The apparent balances against u.s.
while many OF the States were engaged in MAX
ing loans from abroad, for OBJ eets of improve
ment AID other purposes, arnse from the iacI
tl at the lar greater part OF these loans passed
through our custom houses ia the shape oil goods
into which they have been converted in Eu
Lrope. These loans of ,he indebted States a
mount to above 200. O00, 600 dollars, and it is
manifest from what has been said, tha { this
large balance when paid. with its accrning IN
terest, must be met, directly or indirectly
soouer or lafer-by the Increased eXportatioH u
OF our agricultural and other staple products,
1.-THE toregoing views are correct, the dischar
ge OF our foreign Indebtedness will be more oil
less ouerous, according as the tariff policy adopt
ed by the general government, is more or less
restricted, Indiana is now almost destitute OF
currency, because there has been a constan
drain9upOn il, to pay our large balances due t'
The eastern cities. To supply this deficiency
we must have a ready aud profitable sale o.
our agricultural prod uctlons. A commo arga-
meHt in favor oil the restrictive system, is, tia
il furnishes Il home market tor the farm n. Bhl
a reference TO the returns in the last census, de
monstrates that the agricultural productions o.
The U. States far exceed any domestic demand
for consumption. And they would be still great
er,ii the industry aud enterprise of the tarmwer'
er.stimulated by remunerutlng prices. The man
utactarIng States, are themselves, largely agfi
cultural. What they lack in supplying the de
mand within their own limits collectively, coui'
a be easily furnished by a single western state
j Where then are the other agricultural States t