The Placer herald., 1859-01-01


the Secretary of the Treasury, which will increase
the estimated deficit on the 3Oth of June, 1860
to S7,9l4,576 SO. To provide for the payment
of this estimated deficiency, which Will be in
creased by such appropriations as may be made
by Congress, not estimated for in the report OF
the Treasury Department, as well as to provide
for the gradual redemption, from year to year of
the outst nding Treasury notes the Secretary OF
the Treasury recommends such revision Of the
present tariff as will raise the required amount.
After what have already said need scarcely
add that | concur in the opinion expressed in his
report-that the public debt should not be in
creased by an additional loan, and would there
fore strongly urge upon Congress the duty of
making, at their present session. the necessary
provision for meeting these liabilities. Thcmb-
lie debt, on the lst of July, 1858, the commence
ment of the present fiscal year, was $25, ,l55,977
&C. During the first quarter of the present year
the of $4,000, 900 has been ncgotia ed OF the
loan authorized by the Act of June IA th, 1853
making the present outstanding public debt. cX-
elusive of Treasury notes, $50, l55,9T Sc. There
was, on the lst of July, 1858, of Trearury notes
issued by authority OF the Act of December 23d,
1851 unredecmed, the sum of $40, ,154 500, making
the amount of actual Indebtedness at that date,
S54,9lO,777 &C. To this will be added S / 100000
during the present fiscal year-this being the re-
naming half of the loan OF S2O,OOO,O 900 not yet
negotiated"
More small war steamers of light draft are
considered necessary
An increase of postage to five ceqts on singh
letters, and to substitute for the tranking pivil
cge the delivery of postage stamps to those now
entitled 20 enjoy it.
On the Pacific Railroad question the prCsi
dent says:
l would again call your attention to the con-
struction of a Pacific Railroad Time and re-
Election have but served to confirm of the
truth and justice OF the observations which,
made ON this subject in my last annual Message
to which beg leave respectfully to refer 1t is
freely admitted that it would he ineXpedient for
this government to exercise the power of CON
structing the Pacific Railroad by its Immediate
agents. Such dangerous exercise of power
would introduce system Of jobbing and cOwup-
tion which no vigilance on the part of Federal
officials could either prevent or detect. This can
only be done by the keen eyes; active and care
ful supcrvisio of individuals and private inter
est. The construction of this road on ught, there
fore. TO be committed to companies inco rpoued
by the States or other agencies whose pccuniary
Interests would be directly involved. Congress
might then assist them in the work by grants of
land or of money, or both, ulidcr such conditions
and restrictions AS would secure the transporta-
ton of troops and munitions of war free from ano
charge, and that OF the United States mails at q
fair and reasonable price. The progress ol'
events since the commencement of your last scs-
sion has shown how soon difficulties disappear
before firm and determined resolution At
that time such road was deemed by wN and
patriotic men to be visionary project, The
great distance to be overcome. and the incrvcn-
ing mountains and dcscrtr in the way, were OBJ
staclcs which, in the opinion OF many could not
be surmounted. Now. after the lapse of but
single year these obstacles, it has been discoc-
cred, are far less formidable than they were sup
posed to bc, and mail stages with passc myers reg
ularly pass and rcdass twice in each week by n
| common wagon road between San Fra nciyo and
q | o,,I NnmphS in G,.o
days. The service has been as rcgu lurly per-
formed as it was in former years between New
\ ork and this city.
Whilst disclaiming all authority to appropriate
money for the construction of said road except
that derived from the war making power of the
Constitution, there are important collateral con-
sidcrations urging us to undertake the work as
speedily as possible. The first and most momen-
tous Of these is that such road will be power
full bond of union between the States east and
west of the Rocky Mountains This is 20 self
evident as to require no illustration. Butagain
in a commercial point of view. | consider this
the great question of the day. With the Eastern
portion of our Republic stretching along the At
lantic and its Western front along the Pacific,
if all parties should be united by n safe easy,
and rapid international communication, we must
necessarily command q very large proportion of
the trade Of both Europe and Asia. Our recent
treaties with China and Japan will open these
It'll populp'S CInpllcS w OuT lDtlCc, anu
the history of the world proves that the nation
which has gained possession of the trade with
Eastern Asia has become wealthy and powerful.
The peculiar geographical position of California
and our Pacific possessions invites Am G rcan capi
tai and enterprise into this fruitful field to reap
the rich harvest. However, it isan ind spcnsable
prerequisite that we shall first have railroad to
convey and circulate its produce throu ghout every
portion Of the Union, Besides, such railroad
through our temperate latitude, which would not
be impedcd by the frosts and SHOWS of Winter
nor by the tropical heats Of Summer, would at
tract to itself much of the travel and the Trade
of all nations passing between Europe and Asia.
The proceedings had in reference to the slave
brig Echo are rcconnted and after recommend
ing to Congress the local interests of the Dis
trict Of Coluabia, the Presdsnt says:
Il recommend to your favorable regard the
local interests of the District of Coluuba As
the residence Of Congrcs and the Executive De
partment of the Government. we cannot fail to
feel a deep concern in its welfare. This is
heightened by the high character of the peaceful
and orderly cOndunt of its resident inhabitants,
l cannot concluye without performing the
agreeable duty of expressing my graGcaton
that Congress so kindly responded to the recon-
mendation of my last annual message 10y afford
ing me sufficient time before the close Of their
last session for the examina tiOn of all the bills
presented to me for approval but this change
in the practice of Congress has prov idcd 10 be
wholesome reform. 1t eXertcd a beneficial in
fuence on the transaction of legislative business,
and elicited the general appreciation OF the coup
try. 1t enabled Congress TO adjourn with that
dignity and deliberation so becoming to the rep
rescntatives of this great Republic without hav-
ing crowded into general appropriation bills
provisions foreign to their nature and of doubt
ful constitptionaity and eXpedency. Let me
warmly andsstrongly commend this precedent
established by themscvcs, as n guide to their
proceedings during t.. rresent session.
JAMES BUCHANAN.
WASHINGTON Cry December 9th, 1858.
A Quaker had his broad bril- mined hat