Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1846-12-10

piTa IS. under our treaty will. Spain, they veil
certainly prove unayaiiing. Snch a subtertage
would be bu, a weak device 10 defeat the pro
visions OF a sesemn treaty.
recommend that Congress should munedi-
aiely provide By law for tie trial and punish
ment as pirates of Spanish subjects who, es-
Gaping the vigilance Of their Government,
shall te found guilty ofofpEivateefing against
the United states. | DO not appreheHd serious
dagger from these pfivateers. Our navy VII
be constantly on the alert 10 protect u com
merce. Besides. in Gaze prizes should be
made Of American vessels, the utmost vigi-
lance vii be exertsd by our bsoclading squad
ron TO prevent tie captofs from taxing them
INTO Mexican pcfts. and IL is not appreAended
thar any nation viii violate its neutrality by
suffering sgch prizes 10 be condemned and
sold within its Jurisdiction.
recommend tAat Congress should imme-
diately provide By law fr granting letters of
marque and repHsal against vessels under the
Mexican fig. IL is true that there are but
few, IL any, commercial vessels Of MEXICO
upon the high seas; anI II is therefore not
probable that mans Am>riean priyateers would
be fitted out. in cave a law should pass author
izing this mode Of warfare. Il is no,wilh
standing. ceftan thatsuch prlyateers may rem
der good service TO the commercial interests OF
the country, by recspinrlng our merchant
ships, should any DO taken by armed vessels
under the AeSiean Tag. as well as by captu-
ring these vessels thens Ives. Every means
within our power should be rendered available
nor the protection Of our commerce.
The annual report oftle Secretary Of the
Treasury will exhibia detailed statement Of
the condition Of the finances. The imports
for the tscsl year endlDI On the 80 Of June
last were of the value OF one hundred and
twenty-one million siS hundred and ninety
one thousand seven hundred and ninety seven
dollars; OF which the amount exported was
eleven million three hundred aud ~forty-six
thousand six hundred and tweaty-ihree dol
lars; leaving the amount retained IN tie coun-
try for domestic consumption one hundred
aud ten million three hundred and forty-fye
thousand one hundrei and seventy -four dol
lara. The value Of the exports for the same
period was one hundred and thirteen million
four hundred and eizhty-e!sht thousand Ave
hundred and sixteen dollars Of which one
hundred and two million one hundred and for
ty-one thousand eight hundred and ninety
three dollars consisted Of domestic productions,
and eleven million three hundred and forty
six thousand six hundred AMI twenty three
dollars Of foreign ARTICLES.
The receipts INTO the Treasury FOR the same
year were twe5iy HIne million four hundred
and ninety pIae thousand two hundred and for
ty-seven dollars and six cents o (which there
was derived from customs twenty six million
seven hundred and twelve thousand six hun
dred and sixty-seyen dollars and eighty seven
cents from sales Of public lands two million
SIX hundred and ninety four thousand four
hundred AID hl,y-iwo dollars aud forty eight
cents, and from incidental and miscellaneous
sources ninety w Thousand one hundred and
twenty-six dollars aud seventy-one cents. The
expenditures Tor the same period Were twenty
eight million thifty-one thousand one hundred
and fourteen dcllars and twenty cents and the
balance in the Treasury ca the lst day ofJuly
last was nine million one hundred ami twenty
six thousand four hundred AM thirty -pine dol
lars and eight ceaIs.
The amount OF the public debt, iacluding
treasury notes, on the first OF the present month,
was tweniy-four r.iliion Two hundred and IF
" six thousand four hundred and ninety four
dollars aad sixty cents Of which the sum Of
seventeen million seven hundred aad eighty
eight thousand seven hCndrrd and ninety n ne
dollars and slXty-twoc cents was outstanding on
the 18th OF March. 1916, leaving the amount .
CURED since tina; ;.u!c six million four hundred
and sixty-seven thousand SIX hundred anu niE.-
,y-four dollars and ninety -ei,l! cents.
In orjer TO prosecute the war with Mexico
with vlgor and energy, as he best means OF
bringing il TO a speedy aud honorable termlna-
ton, a further loan VIII be Necessary, 10 meet
the expenditures for the present and the next
fiscal years. II the war should be continued
until the Goth Of June, iStS-being the end Of
the next fiscal year-it is estimated that an ad-
ditional loan of twenty three millions Of dollars
will be required. The estimate is made upon
the assumption that it Will be necessary to re-
tain constantly in the Treasury four millions Of
dollars, to guard against contingencies. lfsuch
surplus were not required 10 be retained, ihsn
a loan OF nineteen millions OF dollars would b.
sufficient. II, however, Congress should. al
the preseat session, impose Il reyeaue duty on
The principal articles now embraced in the free
list, it is estimated ina, an additional annual re-
venue Of about two millions and a hall, amoun-
ting, il IS estimated, on the Goth ofJune, lS4S,
to four millions OF dollars, would he derived
from that source; and the loan required would
be reduced by that amount. II IS estimated, al
so, that should Congress graduate and reduce
the price Of such of the public lands as have
been lchg IN the market, the additional RIVE
nue. derived from that source would he anun-
ally, Tor several years 10 come between hall a
million and a million OF dollars; and the loan
required may be reduced By tl.st amount also.
should these measures be adopted, the loan re-
quiIed would not probably exceed eighteen OF
nine;een millions Of doi,ass-iezyGg in the
Treasury n constant surplus of iogr Millions Of
dollars. The loan proposed, it is estimated,
viii be sufficient 10 cover the necessary expea-
ditures, both for the war and for all other pur-
poses, up 10 the 30th or June, 1913; and an
amount of this loan, rot exceeding one-half,
may be required during the present fscsl year,
and the greater par; Of The tnaaiaGtr dnTing the
first bali Of the fiscal year succeeding.
In order that timely notice may he given,
and proper measures taken 10 effect the loan.
or such portion Of /, as may be required, It IL
important that tie authority Of Congress to
make il be given al an early period of your
present session. IL is suggested that the loan
should be contracted for . period OF twenty
years, with authority TO purchase the STOCK
and pay it off, at an earlier period, at It's mar
ket value, out ofany surplus which may at any
time be in the treasury applicable TO that pur-
pose. After the establishment Of peace with
Mexico, itis suppo-ed that aconslderahles surplus
willexisi, and tialthe debt may be e~xtinguished
in a much shorter period than that for which
it may be contracted. The period Of tweaty
years, as that for which the proposed loan
may be contracted. in preference 10 a shorter
period, i, is suggested, because all experience,
both al home and abroad, has shown that loans