The Potter journal. [volume] (Coudersport, Pa.) 1857-1872, 1865-12-12

blessing, but as q heavy bul den ontbe indus
try Of the country, to be discharged without
unnecessary delay.
, 1t is estimated by the Secretary of the
Treasury that the expenditures Tor the hsHaI
year ending the 3Oth Of June, 1866, Will eX-
ceed the receipts SII2. 2.ls+947. II is grau-
fving however to state that it Is also esu-
mated that tle revenue for the year ending
!. the 30,h Of June 1867. will exceed the e&-
penditures in the sum OF Slll ,0o2.ole. Inns
amount. or so much as may be deemed sum
cient for tile purpose, may be applied TO the
reduction Of the public debt, which,on the 5Ist
Idav of October. 1865, was 81, ,740, ,8o4, 100.
Every reduction will diminish the total
amount of interest to be paid, and so enlarge
the means of still further reductions, until
the whole shall be liquidated; and this, as
will be seen from the estimates Of the Secre-
tarv Of the Treasury, may be accomplished
nv annual payments even within period not
exceeding thirty years. l have faith that we
shall do all this within q reasonable time
that, as we have amazed the world by the
suppression of civil war which was thought.
to be beyond the control Of any Government
so We shall equally show the superiority of
our institutions by the prompt and faithful
discharge of our national obligations.
The Department Of Agriculture, under its
present direction, Is accomplishing much il
developing and utilizing the vast agricultural
capabilities of the country, and for informa-
ton respecting the details of its management
reference is made to the annual report Of the
| Commissioner.
! have dwelt thus fully on our domestic
affairs because Of their transcendent import
ance. Under any circumstances, our great
extent of territory and variety Of climate,
Z ftaf &c NJ
for thewants and even the comforts OF man,
making US singularly independent of the va
rying policy Of foreign Powers, and protec:
rs against every temptation to 'entangling
ALLIANCES" ," while at tie present moment the
entofharmony, and the strength
that comes from harmony, will be our best
security against nations who fee power and
forget right"
For myself, it has been and it will be my
constant aim to promote peace and amlty
with all foreign nations and Powers and l
have every reason to believe that they all,
without exception, are animated by the same
disposition. Our relations with the Emperor
Of China, SO recent in their origin, are most
friendly Our commerce with his dominions
is receiving new developments ; and it is very
pleasing to find that the Government Of that
great Empire mani.e5ts satisfaction with our
policy, and reposes just confidence in the
/ fairness which marks our intercourse.
The uubroken harmony between the United
States and the Emperor Of Russia is receiving
a new support from an enterprise designed
to carry telegraphic lines across the continent
of Asia, through his domiuons, and so to
connect us with all Europe by q new channel
of intercourse. Our commerce with South
/ America is about to receive encouragement
L 8 h. Il,
rising Empire OF Brazil. The distinguished
party of men Of science who have recently
left our country to make scientific expIor-
alton of the natural history, and rivers and
mountain ranges of that region, have received
from the Emperor that generous welcome
/ which was TO have been expected from his
constant friendship for the United States, and
his well-known zeal in promoting the ad-
yancement Of knowledge.
hope is entertained that our commerce
with the rich and populous couutres that
border the Mediterranean Sea may be largely
increased. Nothing wiz be wanting, on the
part Of this Government, to extend the pro-
lection Of our flag over the enterprise of our
fellow. citizens. We receive from the Powers
in that region assurances Of good will, and it
is worthy of note that a special envoy has
brought US messages of coldolence on the
.
Bey of Tunis, whose rule includes the old
dOminions OF Carthage, on the African coast.
Our domestic contest, now happily ended,
has left some tracesin our relations with one,
at least, Of the great maritime Powers. The
formal accordance Of belIigeyant rights to the
E iGsurgent States was unprecedented, and has
not been justified by the issue. But in the
systems of neutrality pursued by the Powers
which made that concession, there was
marked difference. The materials Of war for
the iusurgeut States were furnished, in
great measure, from the workshops Of Great
Britain, and British ships, manned by British
subjects and prepared for receiving British
armamcnts, sailed from the ports Of Great
Britain to make war on American commerce,
under the shelter Of commission from the
insurgent States,
These ships, having once escaped from
British ports, ever afterwards entered them
in every part Of the world to reft, and so to
E renew their depredations. The consequences
Of this conduct were most disastrous to the
States then in rebellion. increasing their
desolation and misery by the prolongation of
our civil contest Il had, moreover, tie effect,
to a great extent, to drive the American flag
from the sea, and to transfer much of our
shipping and our commerce TO the very Power
whose subjects had crea'ed the necessity for
such change. These events took place be-
fore l was called to the administration of the
Government The sincere desire for peace
by which am animated led me to approve
the proposal, already made, to submit the
questions which had thus arisen between the
two countries to arbitration.
These questions are Of such moment that
they must have commanded the attention Of
the great powers, and are so interviewer with
the peace and interests of every one of them
as to have insured an impartial decision.
regret to inform you that Great Britain has
declined the arbitramcnt but on the other
hand, invited US to the formation Of joint
commission to settle mutual claims between
the two countries from which those for the
depredations before mentioned should be