The Lancaster gazette. (Lancaster, Ohio) 1846-1852, 1851-12-11

These have been alreadv partially disclosed 10 The
enhancement Of prices & u rising spirit ~ specn-
alion and adventure. lending 10 "yertrading rs
well nt home A. abroad. Uuless some sauidry
check shall be given 10 these tendencies, u Is 10
Ibe feared that mportaiions Of foreign good. he.
lvond healthy demand in this country will lead 10
a sudden dran Of the precious metals from rs.
bringing with it, as it has done in former times the
most disastrous consequences to the busines, aud
capiial of the American people.
The exports of specia n lignidite onr foreign
debt during the past fiscal year have been s23.-
l26379g over the amount Of 81 ece imported. Th"
exports nj .pecic during the first quarter oi the
present fiscal year have been sl4G5l .827. Sb"nd
specie continue to be exported Al this rate for The
remaining three quarters of this year il will dran
from our metallic currency during the year end.
ing 30ih June. 1852, the enormous amount Of
$50 COZ ,308
lD The present prosperous condition Of The ma
tional finances it will become he du'y Of Con
gress to consider the best mode Of paving oh the
public debt. II tho present and auiic ipaed sur.
plus in the Treasury should not he absorbed by
. appropriations Of au extraordinary character. this
surplus should be employed in such way, and IN.
der such restrictions as Congress my enac'. in
extinguishing the outstanding debt Of the n,hion.
By reference to the act nf Congress approved
, 9th September. 1850. it will he seen that in con.
sderaiion of certain concessions by the State Of
Texas il is provided that the United States shall
) pay To the State Of Texas the Of ten millions
Of dollars, in stock bearing five per cent. inter
i est and redeemabe at the end ui fourteen years.
the interst payable hall.yearly, at 'he Treasury Of
!. the United States"
, In tho same section Of the law il is further pro.
!. vided that than five millions ot said stock
It shall be issued until the creditors OF the STATE hold
ing bonds and other certificates of stock of Texas
fa IL syfyyg al "
s. ed shall first file at the Treasury of The United
II States releases of all claims against the United
u States for or on account Ol said bonds or cerIl
v Gates. in such form shall be prescribed by The
:. Secretary of the Treasury. and approved by The
d President Of the United States.'
e The form olrelease thus provided for has beer
Is prescribed by the Secretary Of the Treasury aud
approved. 1t has been published in oil ,h'
)l leading newspapers in the commercial cities of tn
10 United States, and all persons holding claims O
!. the kind specified in the foregoing proyiso wer'
) required to file their releases (n tue form TIM
e prescribed) in the Treasury ofthe United State,
on or before the lst day OF October, 1851. Al
ID though this publication has been continued trnn
the 25th day Of March, 1851, yet uP u the Is
of October last. comparatively few releases la
IS been filed by the creditors Of Texas.
Jl The authorities OF the State of Texas at the n
30 quest OF the Secretary Of the Treasury have fur
ished schedule OF the public debt Of that Sta
created prior TO her admission into the unIO
with copy OF the laws under which each Ga
was contracted.
have. from the documents furnished by d
80 State of Texas, determined the classes ul claiu
in which in my Judgment fall within the provision
of Of the act OF Congress Of tie Oh vi eepiembe
III, 1850
m. On being officially informed o. The accepanc
20, by Texas ol the propositions contained IN iha at
he referred to. | caused the stock 10 he prepared
he aud the five millions which are to be ssaed III
Of condonally, bearing an interest Of five per cen
sh from the lst day Of Jauuary. 1851 have been Il
some time ready 10 be delivered to the State
We Texas The authorities Of 7 exas. up to the pre-
by ent time. have not authorized any one 10 receiN
g5 this stock, aud il remains in the Treasury ID
parineut subject 10 the order al Texas.
iii. The releases required By law 10 be deposited
le the Treasury, not having been filed there. tue
he manning five millions have not been issued III
iln last amount of the stock will be withheld FRO
90 Texas until the conditions upon which 1t is to
,ge deliver ed shall be compiled with by the credo
of Of that State, unless Congress shall Otherwise
The rect by IA modification OF the law.
in III my last annual message, to which respe,
res fully refer, | sated briefly the reasons which
nj. duced me tn recommend modification Of !;
present tariff, by converting tue al valurem in
ear IA specific duty wherever the article imported W
is OF such Character 10 permit II, and that su
rn. IL discrimination should be made. in favor Of /
ac. industrial pursuits ol our own country, as 10 I
the courage home production without excluding Il
um egR competition.
ted The numerous frauds which continue to
and practiced upon the revenue, by false invoices
arm undervulualions constitute au unanswerahle +
lisi. son tor adopting speclhc Instead oi an Vahr
duties in all cases where the nature OF the CO
v in modify does not forbid it. A striking iustrat
1as, of these frauds will be exhibited in the RepOr
lion the Secretary of the Treasury, showing tue [
,ude lUm-hOuse valuation Ofartlcles imported undt
nat former law subject To specific duties, when tn
the was NJ induceinent to undervaluatiun, and
1 tp custom house valuation OF the same articles,
the der the present system OF ad valOrem duties,
NJ greatly reduced as to leave no doubt of the ex
ude ence Of the most Hagrant abuses under the ex
ing laws. This practical evasion ut the pres
lres law, combined with the languishing condition
- some of the great interests OF the country, cau
,cur by over impUrtatiuns aud consequent depres:
mol. prices and with the failure in obtaining fore
;erv market for our increasing surplus OF breadst
in aud provisions, has induced me again to rect
lied mend modification OF the existing tariff,
pur. The report Of tho Secretary Of the Inter
which accompanies this communication, will |
last sent Il condensed statement ot the operations
i,,us that important department Of the Government
frat Ii will be seen that the cash sales Ol the pu
ma. lands exceed those OF the preceding year and
ring there Is reason u anticipate as''h .u''ue'
,tion crease, notwithstanding the large donations wi
how have been made to many oil the States, AID
last liberal grants to individuals reward Tor II
cot. tary services This fact furnishes very grutIy
that evidence of the growing wealth aad prdsperlt.
one. our country.
Suitable measures have been adapted for c
and mencing the survey ui the public lands in Gail
ntye MIA aud Oregon. Surveying parties have been
road ganized, and some progress lms been made II
from thbishing the principal base aud meridian Ii
and But further legislation aud additional apProI
ili;y. tions will be necessary before the proper subd
ar re. ions eau be made, aud the general land sys
extended over those remote parts otuur terrt
,rna On the Sd of March last an act was pisse
reyi viding for the appointment oi three commSS
no To ers 10 settle private land claims IN Gallon
as Of Three persons were Immediately appointed u
make whom, however, declined accepting the oilic'
ISL. consequence Of the uadequacy OF the compe
ton. Others were promptly selected, who,
uties the same reason, decliued and 1t was not
,hnse late in the season that the services of suitable
nj 10 sous could be secured. A mJority OF the c
y bv missiuners convened, in this city, on the lO
20 nf September last when detailed Instructions
gwen to them in regard to their duties ]
show first meeting for the transaction OF business
4 In. be held in San Francisco on tho 9th day o
with. present mouth.
Hs in nave lhouSnt II proper u reter 10 ,hese
cts of not only to explain the causes OF the delay il
sino. ing the commission but to call your attent,
IrOpe the proptlely OF Increasing INC compensate
and the commissioners The oifico is one of
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