The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1851-12-10

~ NNA AAr u - AtA-=t-
mand ~ Il,ai s.lieis. hui % dc sllon crop
he prerssliEg year. ahieh cIesied - in-
creased demamd snd an angmrn cd Psire
Gs he rep lass war. shniid he coi'en
rron now going lorssEd 10 market he only
upranai n aasn.isy :. lh4l % The year pre-
reding. and Ne aid u ~ r'essns Ffirss,
uhsn there v6ald b. falling Of IN he val
ue 81 oar 81 porss &c he pFrsens Esesi ye1i
AZ stIrssi 10000. 900. romPaied win The
amash, expnrsd Eor The year ending SO'h
Jarr. 1881.
THE pro.lnrlinn 81 g.ld IN califnrnia
f,r the Pat wear seems 10 pfnsnisc large
snpgly of thai mei4l from lhai quarter for
same ZINE 10 come. THE large annnal
inrresse nflhe currency oiIl'e wnTld milsl
he attended rilh ils usual results. These
hare hesn slrfsdy partially disrlosrd ~
he enllanrrmrnI II rrireS and a rising
spiril of speculation and zdsrnluIe. lrnd-
20 asenrading. as well n hqme - abroad.
Unless some sslnlary check shall he CIV
en- IN these Iendenrlrs. il is 20 he lfaTed
Thai imp0raiians ii foreign goods heyorii
healthy demand in This country viii
lead 10 sudden dram az llir prreinus me.
tails from US. bringing with il. As i has
done ii lnTInsr times. the must disastrous
consequences 10 The Business and eapl-
ial of The American people.
The expnris Of specie 10 liquidaie onr
foreign debt during the past fiscal year
have been s2f 2e3, 90 over The amount
ofspecic imported. The exports ef spe.
Gle during Ilie first quarter &c The present
fiscal year have been <l4.65l .527. Should
specie continue 10 be rxparIrd al this rate
for The remaining three quarters II This
wear, il will drain from our metallic
currency during The year ending 50Ih
June. 1889, The enormous amount, | SIS.
6J7 3O8.
In the present prosperous condition oil
The national fnances. il will heenme the
duty. az Congress 10 consider the best
mode 81 paying or HE public debt. II
the present and anticipated surplus IL the
Treasury SHOULD mol he absorbed by APP
preparations nf an extraordinary cl,aIarier.
This surplus shuuld be empl"yed in such
way. and under sdrh restrictions. as
Congress may enact. IN exlinguishing the
Outstanding debt Of The nation.
By reference 10 The art &c Congress
approved 9th September. 1850. il will
be seen that. IN consideration az certain
concessions by the State &c 1'exls, il l.
provided thai lie :. Unite, States shall
pay 10 The Stale Of Texas The sum 81
len millions &c dollars. in s,nrk hear.
I. ing five per cent. interest. and redeem.
able al tile end Of fourteen years, Tie
interest payable half yearly. al the
Treasury OF The United States"
In the same section of The law il j. fYr.
iller provided /" Thai ~ more Than FIVE
millions or said stock shall be issued nn.
iil The creditors Of The State holding bonds
and other certificates of stock Of Texas.
!. for ,chich duties on imports ,cere espe.
cialiy pledged. shall first file ut The
I. Treasury ofihe UnileI States releases
Of all claims against the United States.
i. for or on account OF sai, hon,Is cor crrlifi.
Gates. i,} such form as -liall he prescribed
by the Secretary of The Treasury. and
!. approved by the l'r, siient Of The Uni I'd
States"
The form of release thus pruviaci for
has been presrrbr,l.hy the Secretary Of
The I'rcasnry. anh approved. Il has b, on
publish he'd in al the leading newspapers
in The commercial rites of The United
States. and all persons hnlding claims ol
The kim! specified in Tic following prnri.
so were required 10 Iilc their releases (in
the FIRM thus pr scrihctl) in the Ticasnfy
of the United States. on ur beinre The Isl
DAY Of Urtnhrr. 1851. Although Ills pub
lira'ida has been continued from The 25i,
day ur March. 1851, vel up Ia The :, of
Oriamr last comparatively few rltas-
es had hceu fled by ilie tretliicrs of Tex:
as.
Tie authorities Of the State &c Texas.
at The request { The Secretary az lie
Treasury. have furnished a schedule If
Tie public debt nf tia, STATE rrra'p,, mint
10 her adm ssiun into The urnh. with u
copy ofilc laws under whirh each class
was contracted.
| have. from the doc ..tnIs furnished
by The State Of Texas. determined The
classes Of rlaims which in IN, Judgment
fall within the provisions of lie aci ol
Congress Of the 9Th Of September, 1850. |
Ga being officially informed uf lie ac.
cepiance by Texas of li,e plnpn-ilinns
contained in iIle ari referred 10. | ca, sd
the stock 10 he prepared, and The five mil
lions whirh are Ia he issi,i.,l uiic. n,li,ion-
ally. hearing M inic,es, nf five per cent.
lrom The Isl day of Janiilrr. ls5l. have
been tpr some time ready Ia he delivered, /
10 The State Of 'feSaS. The authorities
nf Texas. up 10 The present time. have
not authorised any "ne ID receive Ills
stock. ani il remains in The Treasury Dei
pa tment, suffice, 10 The orrlr, &c i'rxas.
The releases. required by law 10 be de.
posted IN the Treasury. noi having heen
filed there. The remaining five millions
have MOI been issued. This last amount
Il the stock will be withheld from Texas
mil the conditions upon which il is 10
u. dplitplpti shall he rntpnliel ,:,;,i, IL. ii.