Wisconsin tribune. (Mineral Point, Wis.) 1847-1854, 1848-12-22

La I'Eos5tclh9F as an inevitable consequence of
an lfu TTefcy exfra1 agant prices for time
and wild sa4eulstion, which must have beep ol,
lowed, onFhe Itfiux TO Europe, the succeeding
year. 6 s. much OF that specie, BY the prostra-
ton OF: tE4 business OF the country, the susnen
SION OF tie banks, and most extensive bankr,nt-
eies. occurring as this would have done. at
PeIioe Nen considerable loans OF specie were re-
CURED bfT disbursements, and when the hanks
the hscaE agan7s OF the Government, and the de-
posltorleA OF rs moneys, would be suspended the
puDilG cfedlt must have sunk, and many r,ilIons
oil dollarSS as vas the during thh wa 81 $50
must: hspe teen sacrificed IN discounts n.o
loans aga upon the DEPRECATED paper currency.
ed to ua9. 80 '0'ii 2'ii-
I;aiesk the operation of a Constitutional Treas
ury, :los dollar has been lost by the depreciation
OF tie currency. The loans required to prosecute
the gag were negotiated by the Secretary of the
1Te.s above par, and realizing large prerni-
una 60 Che Government. The restraining effect of
che stem upon the tendencies to excessive paper
lsst,e W the banks, has saved the Governments
Ifofl leaVy .losses and thousands of our business
mel i ,51 nkTuptcy and ruin. The system has
oeel tsted N the experience OF the last two wears
am: lgi' thf dictate OF good sound policy. that il
shs.ul2 rem sn undlsturbed. The notifications or
ing ds5alls this measure, involving the princi-
pl;s 8stscosofe recommended, are again presented
Ios ysur ta.orabe consideration
annly Message of the 9th of July last trans
lnstt:lg rs Congress the ratified treaty of peace
] "::tfr bIeNlco recommended the adoption of
/ n:eaEJnes 5tor the speedy payment of the public
I d:.ols In submitting the recommendation I re-
t.rrGa You to the considerations presented in that
I;lessage, in its support. The public debt, inclu-
eng that. authoslzed to be negotiated in pursuance
/ g .xlstiIsg laws, and including treasury notes
/ tmaunted at the time to SEQ. 778A5O4I
/ Ilndets stock Of the United States amounting
20 ..Iout half million Of dollars. has been par
:,hfsed, IS authorized by law since that period
sn4 the pubic debt has thus been reduced the de-
:tais Of which viii be presented in the report of
sthtS Secretary of the Treasury.
Ahe ultimate of expenditures for the next fiscal
:yesr, presented by the Secretary of the Treasury
flt s believed, viii be ample for all necessary pur
pe:e7- 1t the appropriation made by Congress
sh.ti net exceed the amount estimated the means
n,the Treasury viii be sufficient to defray all the
!. expenses OF the Government; to pay off the next
1 HsStalrnent of S3,O00000 to Mexico which falls
4 DE on the 30th OF May, next and still consid-
q e$abe surplus VIII remain, which should be ap-
I?led to further purchases Of the public stock ard
i r%ducton OF the debt. Should other appropria-
i lyons bs made, the necessary consequence will be-
| 10 postpone the payment Of the debt Though
Cur debt as compared with that of other nations
= the world, IS smaI 1t IS our true policy and in
s0rInGny with the nature of our institutions that
sye Should present TO the world the rare spectacle
- SEeat Republic, possessing vast resources and
III H-iot4y eeiilp l rom Indebtedness and II
foVltt add sun more to our strength, and give to
ms still more commanding position among the
l*natiols OF the earth
4. Ibe public expenses should be economical and
tbe coehned 10 such objects as are clearly vithin
the power OF Congress All such as are not alb
:solutsiy demanded should be postponed The
lpaytent OF the public debt at the earliest practi
'cabIperiod, should be cardinal principle Of our
! publ, policy.
F' the reason assigned in my last annual Mes
sage.l repeat my recommendation that branch
OF - mint of the United States be established at
the tlty OF New York. The importance of this
nleasuTe Is greatly increased by the acquisition OF
the sieh mines Of the precious metals in New
oiezs.lco and California, especially the latter
1sepeat the recommendation heretofore made
IN favor ola graduation and reduction of the price
OF sslch Of the public lands as have been long Of
iefet IN the market, and have remained unsoId
ana IN favor OF extending the rights of pre-e1y1r
ton to actual settlers on the unsuryeyed as wen
as the surveyed lands
Ihe condition and operation of the army. and
the state OF the other branches under the s1,ner-
vision OF the War Department, are satisfactorily
presented IN the accompanying reports of the
Secretary Of War
s)n the return OF peace, our forces were with
drawn from Mexico, and the volunteers, and that
Pofuoh OF The regular army engaged for the war
were discharged Orders have been issued for sta
uomng the forces Of our permanent establishment
s~-t points III our extended CClDfr- stharp
troops may be required. Owing to the remote
ness OF some Of their positions the fetachn1ents
have not reached their destination Nof1vitb
Standing the limits OF our country and the nav,
territories 1t Is confidently believed that our nre
~ military establishment is sufficient for. ali ex
Isldisturbed.
VI the amount of military contributions col
lected IN Mexico, the sum of S769,65O was an
Piied toward the payment Of the first insfalment
due under the treaty with Mexico The further
sum OF S346,369,30 has been paid into the Treas
ty. An uneXpended balance still remains in
fhe hands OF the disbursing officers After tke
Proclamation Of peace, no farther disbursements
ssere made OF any uneXpended MONEYS arising
from this source The balances on hand were
fireced to be paid into the Treasury Legislation
vlll be requisite IN order to settle some ndividi
al claims.
Our Indian relations are presented in a most IA
,VoTaDle view, IN report from the War Depart
'ment- The wisdom of our policy il regard to !
'tne tribes within our limits is clearly manifested
by their improved, and rapidly improving cond
ton.
4 most important treaty with the aIenomonee /
Indians mas been recently negotiated by the Com
missioner of Indian Affairs in person, by which I
all their lands in he State Of Wisconsin, being
above four millions Of acres, has been ceicd to
the United States. This treaty viii be submitted
10 the Senate for their ratification at an early nc
llod OF your session. Within the last four wears
eignJ important treaties have been negotiated with
different tribes, and cost of SI,s4200O; Indian
iaIdS TO the amount Of 1S,5O0.000 acres have I
been ceded to the United States aud provision has
been made for settling the country west of the
Mississippi. The title to all the Indian lands |
within the several States of our Union, with the
exception Of few small reservations, is now, ex
tnguished, and vastregion opened for settlement
and cultivation.
The accompanying .report of the Ceore4,r,- F
int Navy gives a satisfactory exhibit of the one
fatlons OF that branch of the public service.
A number OF small vessels suitable for enterino
the mouths OF rivers We're iudiciouslv purchased
during the war, and gave great efficiency to the
Sqdadfon IN The 0ult OF Mexico. On the return