Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1851-12-05

times ihr uusi disastrous consequence iu tiIo
bu.H,s. aui capital of CO., American people.
Ibr sports of specie 90 l'Qu.dale uuI Tor
rI1u debt daring she fiscal year have bccn
sgi 9o3NiD over The amount IT specie impor.
irI. The CNIurit n specie during the fr-t
quarter ut the present fiscal year have hecu
SIl.GSI .Ha1. Should specie continue io be
rNfurtrd vt this rate Tor the remaining three
uu,rtrr- uC this wear, II will drain from our
metallic currercy during the year ending 3Olh
June. 1853, the eGomoVs amoun, of Sjs,-
Coz sos
~ the present prosperous condition at the
national finances. II will h-come the duty of
[ Congress ~ consider the hest mode IT paying
OF the pablo debt II the prcsen, and anllCl-
rated surplus IN the Treasury should not b.
/ absorbed by appropriations Of au oNifaordina-
~ character. this surplus should h. employed
I IN such way. aud Under such restrictions, n
I Congress may enact, m cNilngulshing the
outstanding debt Of the nation.
| By reference ioihe act of Congress approx
I 81 9th September 1850, Il will h. sern that,
IN consideration of certain concessions hy the
state of Texas, IL Is provided that the /" lnlird
State, shall pay IN the State oi Texas the sum
of ten millions ol dollar, m stock bearing
Eve pct crut, interest and rrdccmable Al the
end of fourteen years, the interest payable half
yearly. II the Treasury ol The lnltci States. "
# IN the same section Of the law II is further
provided 'lhal no more than five millions oi
.aid stock shall h. issued until the creditors
II the State holding bonds and other orrtIh-
Gates IT stock Of Texas, fr rh'ch dHi',' on
imports rrrr ysc,aiy pledged, shall first Gle
At tbs Treasury OH United States, rrlcas"s
II ~ claim, against the United Slaics for or
un account 81 said bonds or certificate, ~ such
form %. shall h. prescribed by thu SECRETARY
Of the Treasury, and approved b' the Prst-
dent uf the Inricd States"
The form II rrlclsc thus provided M has
hcru prescribed by the Secretary Of the Trcas-
ury. and approved, 1t has bocr published 10
, an the lcadiur newspapers In the commercial
cities Of the United States. lnd an persons
b holding claims u the Kind specified IN the
foregoing vro,Iso acre required Ia Gle their
rclrssc In the form thus prcSrrbcd) IN the
: Treasury oflhs United States, on or before
the II, day ofOctobcr, 1851. Although this
, publication has hcrn continued from the 18th
dly Of March. 1851. yei up 10 the l., Of Oc'.
lac, comparatively few releases had bccn hlol
by lhc creditors Of Texas.
The authorities II the State n Texas, at
the request ol tie seen ary OF III, I easary,
. have um,,hcd a schedule OF the public debt
or,hat State created pror tn her admission DO.
,o The ruion, With a copy Of the Laws under
{ which each chs, oas contracted.
Iha,c. rrum doe documents furnished by
tb, State 1t Tcnas, determined ,hc CLASSES OF
claim, which DO my Judgment hll within 'h'
4 provisions II 90, act u Co6grc,s ufthe oh oI
10 Sept. 1850
r ON being ulirnlly informed of the aocrP
10 aurc BY neutrality-suspicious. Contained lr
a ,hrar, ryirr,,i iu, | caused The stock To h. pre-
4 pared. auI che I've millions which are to h.
- ISSUED urcuuf.uorally, bcarnr an interest cd
BE- five per cent. from dee l., DAY or January
I-jI. have h,yn ior some time ready To b
delivered to- ,hy State Of Texas. The author
j. tie, OF Tr,a,. up ~ the Prc'cui liEe, ha',
= not luiLouE.d any ono IN receive this stock
!, lud It rrtnaiu, To- the Treasury Department
subject lo the orlcr ~ Tr'a..
, The rrlcls,,, required BY law to - dcP"'
d ,tc, 100 thc Treasury, not having bccn 6l,,
4 there. the fcml.nlng Eve millions have nu
!. been issued. This last amour, of the stocI
!. will b. uuhcld from TcSa, until the cundl
j. uuus upon which Il is Ia b. delivered shall b
complied with b. rhr creditor. u that State
!. unlc,, Congress shall otherwise direct by
r Justification oi rhr Law.
~ nv l,s, aunual mcss1rr, to ~h,,h rc
specifically ricr, stated briefly the reason
4. which induced mc 10 recommend a mudldca
p. ton or III, prr-cn, larlI. by converting The a.
is alupm into q ,p,cidc duty, wherever the az
!, uclc Imported was Ut such a character as 4
L permit Il. and that such Discriminate
,hould h. made, n favor ui tho Industrial Pur
r. suits 81 oar own country. % to cocuunr
~ humr prediction NIhuai excluding iurrie
!, competition
NJ, III. uumcrou, frauds which continue In b
y pracii.,d upon lhc revenue, by false invoice
10 lni urjcrlluauuus, Constitute an unansUcr
!, abb rcls"n i"r adopting spcrl6c instead u "a
n ,llur,m duties IN 40 ca,os Whcrr ,l-c sa,ur
2, of ihc commodity dee. not forbid Il. 4 .'n
y king illustration vi these frauds will H. 81
. hbicd In the Report Of the Secretary Of 10
m Treasury. showing The cusiom.housc valuation
Is Of article, imported nndcr former Law sub
10 PC, To specific dutlr,, when there was no 10
duccmcni a. naturalization. and the custom
p house valuations OF the sane articles, undc
tie present system Of al yolorcm duties, >
2 greatly reduced a. to leave no doubt 81 th
existence Of the most f1gnni abuses unde
,c the existing laws. This practical evasion d
lc the present Law, combined With Ihe anguish
u lug condition of some Of tie great lnicr sls ,
f.. the country, caused By over importation, an
h, consequent, depressed prices, and With the cal
/, urc in obtaining foreign market ior our 10
"a erca.rnR surplus ol br,Hd'laiI' and provisions
!" has induced me again TO recommend a modit
cation OF the existing tsrh.
" The report Of the Secretary Of the Interior
v which accompanies this communication, vi
present a condensed siaiemen, Of the opera
ID riuus Of that important department. OF the Gov
a. rmmcui.
ID II viii b. seen that the cash sales Of III
= public lands exceed those Of the Prcccedin