The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1854-12-13

redress, were founded, have been publicly
known 10 all for some time, and we're
again announced TO them. They did not
deny any OF these charges: they offered no
explan alton, nothing in extenuation OF their
conduct; but contumaciously refused to
hold any intercourse with the commander
Of the "Cyane." By their obstinate silence
they seemed rather desirous to provoke
than to escape it. There is
ample reason to believe that this conduct
OF wanton defiance, on their part, is impu-
table chiefly to the delusive idea that the
American Government would be deferred
from Furnishing them, through fear OF dis
pleasing formidable foreign power, which
they presumed to think, looked with com
placency upon their aggressive and insult
ing department towards the United States.
The e"Cyane" atleng,h fred upon the town
Before much injury had been done, the fire
was twice suspended, in order to afford
for an arrangement: but this
was declined. Mos. of the buildings oil
the place, of little value generally. were, in
the sequel, destroyed; but. owing to the
considera,e precautions taken by our ma
val commander, there was no destruction
of life:
When the "Cyane" was ordered to Cen
tral America, it was confidently hoped and
"a resort TO violence. and destruction OF
property and loss of life" Instructions to
that effect were given to her commander.
And no extreme act would have been re-
quisite had not the people themselves by
their extraordinary conduct in the affair.
frustrated all the possible mild measures
for obtaining satisfaction. A withdrawal
from the place, the object Of his visit en-
tirely defeated, would, under the circum.
stances in which the commander Of the
"Cvane" found himself, have been an ab.
solu,e abandonment OF all claim OF our
citizens for indemnifioa,ion, and submis.
sive acquiesoence in national indignity.
1t would have encouraged in these lawless
men spirit of ipsoience and rapine most
dangerous to the lives and propelt, OF our
cilizons at Punta Arenas, and probably
emboidened them to grasp at the treasures
and valuable merchandise continually
passing over the Nicaragua route. It
certainly would have been most salisiac-
tory 10 me il the object OF the "Cyane's"
mission could have been consummated
without any act Of public force; but the
arrogant contumaoy of the offenders rem
dered it impossible TO avoid the alternative,
either to break up their establishment or to
leave them impressed with the idea thai,
they might persevere with impunity in q
career Of insolenee and plunder.
= The transaction has been the subject OF
complaint on the part Of some foreign pow
ers, and has been characterized with more
of harshness than justice. II comparisons
were to be instituted, i, would not be diff
cult to present repeated instances in the
history of states, standing in the very front
Of modern civilization. where communities
far less offending and more defenceIess
than Greytown, have been chas,sed with
much greater severity. and where not cities
only have been laid in ruins, but human
life has been recklessly sacrificed. and the
blood OF the innocent made profusely to
ininyle with that Of the guilty.
Passing from foreign TO domestic affairs,
your attention is naturally directed to the
financial condition OF the country. always
a subject of general interest. For com
plete and exact information regarding the
finances, and the various branches of the
public service connected herewith, refer
you to the report of the Secretary OF the
Treasury, from which it will appear. thai
the amoun, OF revenue during the last fiscal
year. from all sources, was $73. .549.705;
and that the public expenditures for the
same period. exclusive Of payments oil
account of the public debt amounted to
S5l ,ol8.249. During the same period.
the payments made in redemption Of the
public debt, including interest and pre-
MUM, amounted to SS24, $50, $50. To the
sum total of the receipts of that year is to
be added balance remaining in the
Treasury al the commencement thereof,
amounting TO $e1 ,e42 892; and. at the
close of the same year. corresponding
balance amounting to $40, 1877 .967 Of re-
ceipts above expenditures also remained
in the Treasury. Although. in the opin
ion of the Secretary Of the Treasury, the
receipts OF the current fiscal year ere not
likely to equal in amount those Of the last.
yet they will undoubtedly exceed the a
mount of expenditures by at least fifteen
millions Of dollars. shall. therefore. con-
tnue to direct that the surplus revenue be
applied, so far rs il cen be judiciously
and economically done, TO the reduction
OF the public debt, the amount OF which, al
the commencement of the last fiscal year.
was SGT $40. .628; OF which there had been
paid on the Goth day of November, 1854,
the sum Of S92 365,l72; leaving bal
ance of outstanding public debt of only
$S44 975, ,456, redeeinable at different Pc
RODS within fourteen years. There are
also remnants Of other Government stocks
most Of which are already due. and on
which the interest has ceased. but which
have not yet been presented for payment,
amounting to S933,l76. This statement
exhibits the fact, that the annual income
of the Government greatly exceeds the a
mount of it's public debt, which latter re-
mains unpaid, only because the time ol
payment has not yet matured, and i; can
not be discharged at once. except at the
option of public creditors. who prefer to
retain the securities Of the United States:
and the other fact, not less striking, tina,
the annual revenue from all sources ex
ceeds, by many millions of dollars, the a.
mount needed for a prudent and econom