Bloomington herald. [volume] (Bloomington, I. T. [Iowa]) 1840-1849, 1844-12-27

ships to regularly ply between this country
Satisfactory result. They remain still unad-
iusted. and many and serious lnconvenlences
have already resulted to our citizens IN conse-
quence Of them. -
Questions growing out of the act Of dis
arming a body eff Texan troops under the
command Of Msjor Snively, BY an officer 10
the service Of the United States, acting under
the orders of our Government, and the iofci0ie
entry into the custom-house a. n1yafy
Lending on Red river by certain ciiizens o.
the United States, and taking away snefel1om
the goods seized by the Collector Of me Gus
toms, az forfeited uuder the laws OF Iexas,
have been adjusted, so far as the powers OF
the Executive extend. The correspondents
between the two Governments IN reference 70
both subjects will be found amongst the ac 9,
companying documents. II contains iu'i
statement Of all the facts and circumstances,
with the views taken on both sides and the
principles on which the questions have been
adjusted. Ii remains for Congress to make
the necessary appropriation to carry the ar
rangement into effect, which l respectfully
recommend.
The greatly improved condition Of the
Treasury affords subject for general con-
graduation. The paralysis which has fallen
or :iade and commerce, aud which subjected
the Government to the necessity Of resor,ing
to loans and the ISSUE Of Treasury notes TO a
laress amount has passed away !; and, after the
payment of upwards Of 81, O00, 900 on account
of the interest and in redemption ct more inan
$4,000, 900 Of the public debt which falls due
on the LIST of January next, and setting apart
upwards of $2,OO0,000 for the payment Of
outstanding Treasury notes, and meeting an
instalment Of the debts of the corporate ci'ies
of the District of Columbia, an estimated sur
plus Of upwards of 81 ,000, 900 over and ABOVE
the existing appropriations will remain IN inc
Treasury at the close of the fiscal year.
Should the treasury notes continue outs1ana'
ing, as heretofore, that surplus will be consld-
erablv augmented. Although all interest has
ceased rpon them, and the Government has
invited their return to the Treasury, yet they
remain outstanding, affording gteat facilities
TO comm ence, and establishing the fact that,
under we'll regulated system OF finance, the
Government has resources within itself which
render it independent in time of need not only
Of private loans but Of public facilities.
The only remaining subject Of regret, -
that the remaining stocks of the Government
do not fall due at an earlier day; since their
redemption would be entirely within its con-
troll. As it is, ii may be worthy the consld-
Grafton of Congress whether the law estab.
fishing a sinking fund-under the operation OF
which the debts of the Revolution aud last
war with Great Britain were, TO great ex-
tent, extinguished-should not, with proper
notifications, ESQ as TO prevent an accumu'a-
ton of snrplusses, and limited in amount TO
specific sum- be re-enacted. Such provision,
which would authorize the Government 70 60
into the market for purchase OF lis own
stock, on fair terms, would serve to maintain
its credit at the highest point and prevent 10
great extent those fluctuations in the price OF
its securities which might, under other clf-
cums,ances affect it's credit. NO aPprenen'
sion of this sort is at present entertained
since the stocks Of the government which out
two years ago were offered for sale 70 capnai-
lists at home and abroad, at depreciation,
and could find no purchasers, are now CREAMY
above par in the hands Of the holders; out
wise and prudent forecast admonlshes US 10
place beyond the reach of contingency the
public credit.
1t must also be matter Of unmingled graf
ification that, under the existing financial sys-
tenn, resting upon the act of 1889 and the res
olu,ion of 1919, the currency Of the country
has attained state Of perfect soundness; and
the rates Of exchange between different parts
of the Union, which in l84l denoted, by their
enormous amount, the great depreciation, and
in fact worthlessness Of the currency in most
of the States are now reduced 10 little more
than the mere expense of transporting specie
FROM place to place, and the risk incidental to
the operation.
T. hat rf th0 Init cd
States, where SO many INDUCEMENTS are held
out for speculation, the dePostories 81 tn.7
surplus revenue, consisting Of banks of any
amount, require the closest vigilance on the
part Of the Government. All banking ins,i-
tutions, under whatever denomination they
may pass, are governed by an almost exclu.
sive regard to the interest of the stockholders.
profits, in the form Of dividends, and large
surplus revenue entrusted to their custody is
but to apt TO lead to excessive loans and 10 ex-
travagan,ly large issues Of paper. As a me-
cessary consequence prices are nominally in-
creased, and the speculative mania every
where seizes upon the public mind. A 6cti-
tious state Of prosperity for season exists,
and, in the language of the day, money be.
comes plenty. Contracts are entered into by
resting on this unsubstantial state
of things, but the delosion speedily passes a
way, and the country is overfun by an indebt.
edness so weighty az TO overwhelm many,
and to visit every department Of industry with
great and ruinous embarrassment. The great.
est vigilance becomes necessary on the part Of
The Government to guard against this state Of
th;nos. Tie TIC d,-c55ccsitories must be given dis
timely TO understand thass The :avors Of the
Government will be altogether Withdrawn, g
diminished, il its revenues shall
be regarded as additions to their banking CAP
i,al, or as the foundation Of an enlarged circu-
lation. The Government, through its reve-