Wisconsin herald. [volume] (Lancaster, Wis.) 1846-1849, 1846-12-19

can only 6e construed as an invitation to all the
freebooters on earth, who willing to pay fol-
the privilege, to prey upon the American com
merce. 1t will be for our courts of Justice Il
decide whether, under such circumstances. these
Mexican, letters of Nlarque and reprisal shall
protect those who accept them and commit rob
berries on the high seas under their authority
: from the pains and penalties of piracy. If the
, certificates of naturalization thus granted be in
: tended by Mexico to shield Spanish subject.
: from the guilt and punishment OF pirates, under
orr treaty with Spain, they Will certainly prove
unavaiing. Such d subterfuge would be but
weak device to defeat the provisions of a solemn
treaty. M xas
| recommend that congress should Immediate.
ly provide by law for the trial and punishment
as pirates of Spanish subjects who, escaping the
vigilance of their government, shall be found
guilty of privatee1ng against the United States
f do not apprehend serious danger from these
privateers. Our navy will be constantly on the
alert to protect our commerce. Resides, in case
prizes should be made of American vessels, the
utmost vigilance will be exerted by our b ocka-
ding squadron to prevent the captors from ia
king them into Mexican ports, and it is not ap-
pretended that any nation will violate its neu-
trallty by suffering such prizes to be condemn
ed and sold within its jurisdiction.
recommend that congress seould immediater
provide by law for granting letters of marque
flag. 1t is true that there are but few, if any,
commercial vessels of Mexico upon the high
seas; and it is therefore not probable that many
American privateers would be fitted out, in case
a law should pass, authorsing this mode of war
fare. 1t is, notwithstanding, certain that such
privateers may render good service to the COM
mercial interests of the country, by re-capturing
our merchant ships, should any be taken by
armed vessels under the Mexican flag, as we'll
| a nv carfur hos
ry means within cur power should be rendered
available for the protection of our commerce.
The annual report of the secretary OF the
treasury will exhibit detailed statement Of the
condition the finances. The imports for the
fiscal year ending on the 30th ofJune last were
of the value of $l2l ,691 1871; of which the amt
exported was Sll ,346,623 leaving the amount
retained in the country for domestic consump-
ton $l10,345 ia.
The value of the exports for the same period
: was S113,488,5l6, of which Sl02, 141 1893 con-
sisted of domestic productions, and Sill ,346 e23
of foreign ARTICLES
The receipts into the treasury for the same
year were $29, 499, 247, of which there was de-
rived from customs S26,7l2, 6b7S7; from sales
ofthe public lands 50 ,694 ,452.4S, and from in
cidental and miscellaneous sources, 1892, l26. II.
The expenditures for the same period were $685.
OBJ, 1I4.20, and the balance in the treasury on
the 1st day of July last was S9,126, 439.O8.
The amount of the public debt, including trea-
sury notes, on the lst of the present month was
S24, 256, AGA 60: of which the sum of SIT, 1885,
1882 was outstanding on the 4th of March,
l845, leaving the amount incurred since that
time SIS, 467 694 90.
In order to prosecute the war with Mexico
with vigor and energy, as the best means of
bringing it to speedy and honorable termina-
ton, further loan will be necessary, to meet
the expenditures for the present and the next
fiscal years. If the war should be continued
until the 30th Of June 1S48-being the end of
the next fiscal year it is estimated that an adj
ditional loan of S23 goo will be required.
This estimate is made upon the assumption that
it will be necessary to retain constantly in the
treasury Sl,000,000. to guard against contin-
gencies. If such surplus were not required to
be retained, then a loan OF $l9,000,000 would
be sufficient. If, however, congress shOnld, at
the present session, impose a revenue duty on
the principal articles now embraced in the free
list, it is estimated that an additional annual re-
venue of about 50 100000, amounting, it is esti-
mated, on the Goth of June, lS4S, to $4 900, 600
would be derived from that source, and the loarl
required would be reduced by that amount 1t
is estimated, also, that should congress gradu-
ate and reduce the price of such of the public
lands as have been long in the market, the addi-
tional revenue derived from that source would
be annually, for several years to come, between
+ half a million and million of dollars and the
loan required may be reduced by that amount
also. Should these measures be adopted, the
loan required would not probably exceed S18 or
$4,000 .O0O, leaving in the treasury constant
surplus of 81 ,OO0, 0O0 The loan proposed, it is
estimated, will be sufficient 20 cover the neces-
sary expenditures, both for the war, and for all
other purposes, up to the 30th of June, 184S
F and an amount of this loan, not exceeding one
half, may be required during the present fiscal
. year, and the greater part of the remainder du-
ring the first half of the fiscal year succeeding.
In order that timely notice may be given, and
proper measures taken to effect the loan. or such
portion of it as may be required, it is important
that the authority of congress be given to make
it at an early period of your present session. II
is suggested that the loan should be contracted
for period of 2 years, with authority to pur-
chase the stock and pay it off, at an earlier pc
riod, at its market value, out of any surplus
which may at any time be in the treasury appli.
cable to that purpose. After the establishment,
of peace with Mexico, it is supposed that con-
|, siderable surplus will exist, and that the debt
may be eXtinguished in much shorter period
, than that for which it may b contracted
!. The period of twenty years, as the period for
which the proposed loan may be contracted, in
preference to shorter period, is suggested be-
cause all experience, at home and abroad, has
, shown that loans are effected upon much better
, bursable at short dates.
Necessary as this measure is, to sustain the
honor and interests Of the country, engaged in
foreign war, it is not doubted but that congress
will promptly authorize it.
The balance in the treasury on the LIST of July
last exceeded 9,000, 900, notwithstanding con-
siderable expenditures had been made for The
, war during the months of May and June prece
, ding. But for the war, the whole public deb
could and would have been extinguished with
f in short period; and it was part of my set
tied policy to do So and thus relieve the peopl.
Z of its burden, and place the government in pc.
sition which would enable it to reduce the pub
n lie expenditures to that economical STANDARD
which is most consistent with the general wei
fare, and the pure and wholesome progress o.
our institutions.
I Among our just causes of complaint agains
I Mexico, arising out of her refusal to treat fol
peace, as we'll before as since the war so unjust
4 ly commenced on her part, are the extraordna.
: nv expenditures in which we have been invov
ed. Justice to our own country will make i
A proper that Mexico should be held responsible
for these expenditures.
: Economy in the public expenditures is
h at all times high duty which all public
h functionaries of the government owe to the
: people. This duty becs~es the more i'm
$ perative in the period Of war, when large
i and extraordinary expenditures become
npouOsioblo Drr,nr ~ III