Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1847-11-25

small amount might easily be carried as a floating
debt, and would not require to be funded France
sustans, at this moment, floating debt of more than
600 millions of francs, or Sl60, 100000.
The report of the Secretary of the Treasury will
be of the most interesting State papers ever pub
sled in this country and contain not only an argu.
ment in favor, bat absolute demonstration of the
principles of the Tariff Of lS46. Mr.. Walker, who
is really the most indefaiigable man | ever knew In
my life, is working sixteen hours day in his
department. repairing thher at o'clock in the MORN
ing and leaving it only after midnight. The hour
from to is devoted to receiving calls and seeing
gentlemen having business with the Secretary; all the
rest are zealousy and unremittngly devoted to the
great national concerns entrusted to Mr.. Walkers
hands, He has his meals sent to the Department. but
they little than preventves of starvation,
and yet Mr.. Walker thrives upon them. never saw
HIM look better in his life-hs physical health keep
ing pace with the vigor of his intellect.
Mr. Walkers report, venture to say, will become
landmark. and add mathematical conviction to the
doctrines that received only more or less in
the shape of party creed.
Already the results of the tariff thus far, have ex-
ceeded the expectations OF all its friends and support
ers; 1t has yielded abundant revenue and what is
more, it is proved that it yields handsome in
come from the articles of luxury thus throwing the
burthen Of taxation on those who are best able to
bear it.
As TO the SubTreasusy, It's most violent opponents
cannot but be struck with the able manner it was ad
minlstered, and the sautary effects it has had,
only On the affairs of government but on the CONNER
cial and the circulating medium of the country.
Where would the government have stood, if during
the tremendous reverses in England, and with the
constant transfer of specie from New York to New
Orleans and thence to Mexico, to the amount of
more than fifteen millions, the United States Treasury
had been dependent the Bank The very fact that
the Bank could have foreseen the extent of the
or,1 h.
panic, trade would have been disturbed, the banks
would have checked in, and suspension of specie
payments would have been the probable consequence.
All this has been udlciousy avoided, the business of
the country is going amidst world crisis In the
monetary system, and the universal decline of every
species of property In Europe
The government is not embarrassed for money it
will not be obliged to hurry its financial measures
through the next Congress, without giving the Legis-
lature time to examine the national account and give
full consideration 10 all the measures proposed by the
talented and most indefatigabe Secretary. The tcar
'cH mol flag on account Of the finances; the credit Of
The nation wM be sustained and the loans which
may become necessary will bear reasonable proper
ton to the means which, by the skill of Mr.. Walker,
will be made available When. in 1910, Europe was
on the eve of general war, in consequence of the
quadruple treaty concluded between the powers of
England, Austria Russia and Prussia, French states
man calmly declared, in the Chamber of Deputies,
udt mOuerH Walldre was Simply plOOleW III arllI-
mec, solved by the minister of finance and that the
nation would inevitably remain the victor which could
produce the last dollar. He hoped that would be
France, and hence he did not dread the future. Mr.
Walker WILL in his report to Congress- present
the nation with the assurance, but it will not be
a mere official promise; he will prove his PROPOSE
tons step by step, and his paper will probably exhibit
to MericO good statement of what able to
do and might accomplish, the world desire,
and inculcate her lesson scarcely inferior TO that
which has been given her by Scott and Taylor.
OBSERVER
P. S.-No news from the South, but the opinion is
gaining ground that if the administration of Pena
Pena can be consolidated, we nearer peace than
we ever were since the commencement of the war.
If President making occupy much of the time of
Congress it fills in the notes of preparation for it,,
the Mexican itself will be thrown in the back
ground by it. Many distinguished, real and ex-mem-
bers of Congress in this city, attending, APP
parenty, to other business. The Calhoun men are
endeayoring very hard to get up separate organiza
ton, and paper, of which the prospectus has already
been issued but all their calculations based on
the election going to the House, and all their strength
lying in southern states. The free-traders
of the north no longer look upon MIR. Calhoun as the
exponent of their principles. Mr.. Walker, of the
Treasury having by his skill and courage, alone eff
fected more than they could have expected from
MIR. Calhoun as President.