Lewistown gazette. [volume] (Lewistown, Pa.) 1843-1944, 1851-12-05

/ been SD, DOL 81. Should specie continue to
be exported at this rate for the remaing thr..
quarters of this year, it will drain from our
metallic currency during the year ending
Both June, 1852, the enormous amount Of
S5S. .GO7 .30S.
In the present prosperous condition Of the
national finances, it will become the duty Of
| Congress to consider the best mode Of payinc
off the public debt. If the present and an
ticpated surplus in the Treasury should not
be absorbed by appropriations of an extraor.
dinary character, this surplus should be en-.
ployed in such way or under such restrir.
tions, as Congress may enact in cxtinguish-
ing the outstanding debt Of the nation.
| BY reference to the act Of Congress aprro-
we'd 9th Sept, 1850, it will be seen that in
consideration Of certain concessions bv the
State of Texas, it is provided that the Uni.
ted States shall pay to the State Of Texas the
sum Of ten millions Of dollars, in a stock
! bearing per cent. interest, and redecmalIa
| at the end OF fourteen years, the interest ray
able half yearly, at the Treasury Of the Uni.
! ted States"
In the same section of the law it is fur
| ther provided chat nomore than five millions
Of said stock shall be issued until the credi-
| tors Of the State holding bonds and other Ger
tIicates OF stock Of Texas. f0r Jctich duties
on imports ,cere specially pledged. shall first
| file at the Treasury Of the United States re-
! leases Of all claims against the United States
! for or on account Of said bonds or certificates,
in such form as shall be prescribed by the
| Secretary Of the Treasury. and approved Lv
the President of the United States"
! The form Of release thus provided for has
been prescribed by the Secretary Of the Trca-
sury, and approved. 1t has been published
in all the leading newspapers in the CONNER
cial cities of the United States and all per-
sons holding claims Of the kind specified in
the foregoing proviso were required to file
their releases in the form thus prescribed)in
the Treasury of the United States, on or be-
fore the lst day Of October, 1851. Although
this publication has been continued from the
25th day Of March, 1851, yet up to the LIST OF
October last comparatively few releases had
been filed by the creditors of Texas
The authorities of the State of Texas at
the request Of the Secretary Of the Treasury,
have furnished schedule of the public debt
of that State created prior to her admission
into the Union, with copy of the laws un-
der which each class was contracted.
| have, from the documents furnished by
the State Of Texas, determined the classes Of
claims which i'll my judgment fall within the
provisions of the act of Congress of the 9Th
of September, 1850.
On being officially informed Of the accept
ance by Texas Of the propositions contained
in the act referred to, | caused the stock 10
be prepared, and the five millions which are
to be issued unconditionally, bearing an in
terest of five per cent from the 1st dav of
Jauary, 1851, have been for some time ready
to be delivered to the State of Texas. The
authorities of Texas, up to the present time,
have not authorized any one to receive this
stock and it remains in the Treasury De-
partment, subject to the order of Texas
The releases, required by law TO be deposi-
ted in the Treasury, not having been filed
there, the remaing five millions have not
been issued. This last amount of the stock
will be withheld from Texas until the condi-
tions upon which it is to be delivered shall
be complied with by the creditors of that
State, unless Congress shall otherwise direct
by modification Of the law
In nv last annual message. to which res
peetfully refer, | stated briefly the reasons
which induced me to recommend modifca-
ton of the present tariff by converting the
ad yalorem into specific duty, wherever the
article imported was of such character as
to permit it, and that such a discrimination
should be made, in favor of the industrial
pursuits Of our own country, as to encourage
home production without excluding foreign
competition.
The numerous frauds which continue to be
lEdCJlStu upon Iilt revenue. DN 1alSe invoices
and under Valuations constitute an unan-
swerable reason for adopting specific instead
of al yalOrem duties in all cases where the
nature of the commodity does not forbid it,
\ striking illustration of these frauds will
be exhibited in the Report of the Secretary
OF the Treasury, showing the custom house
valuations Of articles imported under a for
mer law subject to specific duties, when there
was no inducement to differentiation, and
the custom-house valuations of the same ar
ticles, under the present system of ad valo-
rem dGties, so greatly reduced as to leave no
doubt of the existence of the most fragrant
abuses under the existing laws. This prac-
teal evasion of the present law. combined
with the languishing condition of some of the
great interests of the country, caused by over
lmportations and consequent depressed prices,
and with the failure in obtaining n foreign
market for our increasing surplus of bread
stutfs and provisions, has induced me again
to recommend a modification of the existing
tariff.
The report of the Secretary of the interior which
accompanies this communication. will present a con-
densed statement OF the operations of that import
ant department OF the Government.
1t will be seen that the cash sales of the rublic
lands exceed those of the preceding year, aud that
there is reason TO anticipate still further increase
Notwithstanding the large donations which have
been made TO many of the States, and the liberal
grants to individuals as reward for military Servi-
ces. This fact furnishes very gratifying evidence of
the growing wealth and prosperity OF our country
Suitable measures have been adopted for commen-
cling the survey Of the public lands in California and
Oregon. Surveying parties have been organized,
and some progress has been made in esabl shing the
principal base and meredan lines But further le-
gsiaton and additional appropriations will be neces-
sary before the proper subdivisions be made and
the general land system extended over those remote
parts of our territory.
On the Sd of March last was passed provi-
ding for the appointment of three commissioners tu
settle private land claims in California. Three per-
were anDointeI Of, whom, -