The Arkansas banner., 1848-01-10


 searre II may be issne, gl,cnld be introduced as circulation by the cenSiii ntionai trras r il wcnld precisely o thai extent diminish its nss as means of elfcalating gold and silver
 During and before the commencement, of the last session oI Congress. h was thought lye many 4AHa tis meRznre eonla not eFrEafe smcressfnRx du ring war; and that arge loans could not bs nerosla ted if the payments were required ia specie. The department, however, adhered to the recatn,e isia tions of its rst report. believing that the vovera ment would be rendered stFosar~r by the divorce and that if the treasury should reSt to banks Io ne gotiatc it's loans or supply its reyeane thai bosh, If the war continued. would be inoiysd as thes were in the war of lSia, In one common rain. Du- ring the months of JuAe, Jalv and Auets, lana tDer table N., the sam Of S9,00O, ,0l0 was transfer. cd from the asSistant treasurer of New York fer la- cesarv disbursements st New 0FleaRs and ia Mex. leo Heretofore; the the public money being de- posited with the banks. and loaned out to teir cass- tomers, when such enormous transfers were snae
 contraction of the hanks w ith rniaous losses must have ensaed; but the money of the gove Rment is aew transfer d fFnm New York io New Orleans, and scarcely atiect business of the Inoneg market, because the transactions sf Inc Esyarnue are ds connected from those of the haaks, When inc 20 verumcnt formerly received and tlsburses only inc paper of banks. whenever a rcinsion and nusner- ous bankruptcies occurred Ia England, they uni versslly reactsd upon pc iio,s paper syssern to crate a pressure in our money Iaarke large and sudden contraction of the papor currency a calling in of bcnyy loans by the banks, and as u consequence, many failures and most freaasni pensonS of specie payments. Now. for the first time iu our history. although fIilur ia Eagand of the mot unprecedented magnitude have oocnred, including hunks and bankers, yet our banks and dit are sound and stable, aud the business of the country is s, Il prosPere'sN and pro -ressive "Nutling is injurious to all classes, hut peciay 10 nfacturers. ihaa the xpansso ns. ,Af kak tem, vibrating with every considerable change of the public moneys held by thern as depositors. This perous ani seductive bank paper system opens temporarily, and boy ond the wants of the country, market here for foreign imports not in exchange for exports, but for credit; the redemption of which drains the country of it's spre-, contracts the pa- per currency, forces, at saeriiic thu sale of do mestic fabrics, and depresses the industry of the whole country. D lmesti mauu fdctarers require fer :.sir permanent and sucecssful operation, tie basis of specie; checking vibrations and iniatons of the paper system; confniRg our imports to the wants of the country and preventing the temporary purchase of foreign goods for cfedt, and not for ports, which always results In disu bsnce of the money market, and tn injury 10 the country. II our manufacturers desire great advantages from the home market, IL must be aban,lanty and per- 1 manently supplied with large speeil circulation, which alone sustain that market for number of years. md prevent those calaiulties waich must follow infated paper curscncy. A home market for manufacturers, when based upon specie and low duties, k solid, permanent and augipentiug but when founded upon paper credits, it is inflated year. only to be depEessad the next, or some succeeding ycar--thus depriving the rer of any well assured and permanent domestic mar ket. The bank deposit year, (ls36,) when we were importing grain, eontrasied with lS37--the year of divorce of the government from bauks--ex- hibiting the deusive imitation of the one with its succeeding disasters, and the solid prosperity ef the otter; resisting thus far to great extent, the
 vHlson in England, and proving the good effects of
 the union of lsw duties, and the spccie-receiying 1 and specie-circuating constitutional treasury" ] The recommendation for the establishment Of q
 branch saiut fs city cf Ncss " es ls seaesseA, and eogent reasons advanced therefor. Foreign coiu going into the bauks would, il received at the great emporium of the commerce of the Union, pass into general circulation. The amount coined at the mint and branch mints from the lsf Jan. to the 1 lst December iS47, S20, ,75S 0isl2; tho first eleven months of the eonsti utional treasury. | By exhibition of the imports and exports cf specie, 1t appears. that for the fiscal year ending the Both June, lS46 there wus import of g. IT, 732 and export of $].47i, AT, ieavsng gain of $296'3l5; and in lsI7, the specie imported was S2ll ,ls9. and the export S,,%4I, i9 leaving the spce,c gained in lsi7, S22 ,276,l70.
 An exhibition of the amount of receipts from customs, lands, &c., and ot the disbursements of specie is made, showing for the first year ef the new systm, that the department has been euai led to circulate among the people the sum of $l5, 26, Il in specie.
 Tables are presented exhibiting the market value of treasury netc= and nited States stock for the yeaf, in New York and New Orleans X stais- mcnt of facts k presented in relation ie the npgo- ,iAions of the late oaa of s.o03.D D90. with which howcye-, the public has already been made acq ted through the press.
 Information is furnished relative to tho sclcction ol ste tor, and the erection Sf, the custom hoPsc at New Orleans.
 The operation of tte Typographical Burean and the iabors of Professor A./b. Bsche, in the sur gry of tue coa ts, pih 4 view To the c.ioa ol light honses snd other puhsu works, are approved. and appropra ions asked for the eempics@s3 of the S8uc.
 l To the pur usnce of improvements in The ware
 hoa~ing sys'ofn, eemini- tea consisting cf Messrs (. (. Wallen and D r. fs,hsn was appointed to visit Europe, and collect all te information Poss 1 ble on the sah ect the result of whicH has h~en, yOHninons Iep6rts, aflordin. details whirh exhibit
 with peculiar force one Of the principal by (which Great Britain has bait up her commerce and
 navigation, and extended the market for her fabrics
 throughout the world; and for successful eompe-
 tton with her, the report maintains .ke neesssity ! of sedu' 'ously employing and pcTfectne the same
 system in the United States.
 1 The remsinder of the report relates ta the new tariff and its operations, with yaris of illus
 ,ions from the past history Of the nat'on ohd
 
 of the superiority of the system.
 From il we raher. amoags, many others, the fol ] lowing items of facts:
 1 The nett revenue under the new tar1, for ihr year ending the lst of December l-t7 k $3i 500. O0a, being Ss,s2, 96 more than ualef the cid taha | h the proceeding twelve months Our produets ahOat $6, ,0e 900 en. es which sny abOIt 50.- 0o0000 is exported leaving S2,s5a ,n90 900 to bg used at home. of which Sso0,00o,010 is annually interchsnged between the States, ahont S23 ,si per indiv idual; while iherehange with foreign nation on at the rate ef 30 eents per ndisi lad Tho amount. 1t Is tho1ght. might he augmented b. low daies to @ cents per adiv ial. ss0o, ,000,. GOO in she aggregate, which would yield a rsvcnae of $9a 00o 001 It is e1n,ectasd that ih Cansdaa were united o Us by fec tradr. exchanges Syiil those colonies alone, would advance to i0,00A 900
 it contendei that il s the freight, but duties | iat are the ohsigales Go commerce The Secretary then proceeds to l7spment npnh the statistical iacs connected wlth the inneDsely increased exportaton Of breadstns of as year, and ehServcs that OBI capacity fer increaei production
 is sufficient t9 augment exports Of 2, aiaa, &e