a
M 4m:
L
‘_:j‘
m .—».,-—..a.-.. ~-e-u----_~4~.-.» - - ._-- -- ..--4. _ . .
I To procure it here. improper influences are
appealed to; unwise connections are establish-
ed between the government and the vast num-
~' hers of powerful State institutions; other t'l'l0-
3;-, I lives than the pitblic good are brought to bear
l
A both on Executive and Legislative departments,
antl selfish combinations. leading in special le-
gislation. are formed. It is made the interest of
banking institutions and their stockliolders
llirougliotit the Union to use their exmions for
‘he increase of iaxaii )n and the accumulation Of
a surplus revenue; and. while an excuse is af-
forded. the means are furnished for those exces
’ sive issues which lead" to extravagant trading
I and speculation. and are the forerunners of a
- vast debt abroad, and a suspension oftiic baiiks
at home. ,
Impressed, therefore. as I ‘am. with the p_t0-
5, priciy of the funds of the Government being
withdrawn from the private use of either batttks
gr individuals and the public money kept, by
~duly appointed public agerrts; and believing.
as I.do, that such also is the judgtnent which
discussion, reflection and experience have bro-
duced on the public tniisd, I leave the subject
with you. It is, at all events. essential to the
interests of the cotnmunity and the business of
the Government, that it decision sliouid he tirade.
Most of the arguments that dissuade us froin
employing banks. in thecttstody and disburse-
ment of the public"tt'ronny. apply with equal
force to the receipt oftlzeir notes for the public
dues. The difference is only in form. In one
instance. the Government is a creditor for its
deposits. and in the opportunity for u-ting the
public moneys, and equally lead to all the evils
attendant upon it. sincea bank can as safely ex-
tend its discounts on a tlcposit of its notes in the
,Iiands of a public ofiicer, as on one rriadc in its
‘' own vaults. ' On the other hand, it would give
an the Government on greater security, for. in
-case of a failure, the cl.-iirn of the notelmlder
ttvould be no better than that of the depositor.
I am aware that the danger of iucorivcnience
to the public. and unreasonable pressure upon
4 sound banks. have been urged" as objections to
~-reqtiiriiig the payment of the revenue in gold
,_ and silver. Tlit.-se objections have been greatly
fl '-exaggeratetl. From the best eslirnaies we may
" -safely fix the amotint of specie in the cotiiitry
Cat eighty-five millions of dollars. antl the pur-
- tion of that which would be employed at any
‘ one time in the receipts and disbursmenis of the
ma.“
......
. _“""' A--..._.......
. -.‘: .-32.. :.s"*‘
5 Gnverntneut. even iftlic proposed change were
at once, would not. it is now. after fuller inves-
-. ligation. believed. exceed four or five millions.
4;‘, -lftlie change were gradual, several years would
elapse before the sum would be required. Wlllt
annual opportunities in the mean time to alter
the law, should experience prove it to be up
' pressive or inconvenient. The portions of the
cointnuuity oti whose business the change would
imriiediately operate, are comparatively small.
_ nor is it believed that is effect wotild be in the
_ _lcast unjust and injurious to them. ‘
In the payment of duties, which constitute by
, .. .far the greater poriioti of the revenue, a very
ls, far e )f0 onion is tlerived from foreign commis-
~ , . 5 , . . -5 .
. sion houses ant. agents of foreign manutacturers.
{ who sell the goods cotisigried to them. generally,
, at auction, antl aftcr payingthe duties out or the
avails, remit the rest abroad in specie or its
.equiValenl. That the amount of duties should,
in such cases, be also retained in specie, can
hardly be tnade a matter ofcomplaint. Our own
«importing merchants, by whom the residue oftlie
duties is paid. are not only pectiliarly interested in
maintaining a sound currency. which the rrieas.
we in questtoii will especially promote, but are,
‘from the nature of their dealing, best able to
,.know when specie will be needed, and to pro-
cure it with the least difficulty or sacrifice,
Residing. too, almost universally in "places
, 2-_.‘_.:.'~l‘l_£3ie_lIl(?.l'B}'Cl:l,l:lOfl5S, received. and where the
' drafts used By the (xovernment for its disburse-
meiits must con-serrtrate. they have every op
portunity to obtain ‘and rise them in place of
‘specie, should it be for their interest and conve-
‘nieoce. Ofibe nu utberoftliese drafts. and the
facilities they may afford. as well as ofthc ra-
. pidity with tvbiclt the public funds are drawn
K» . g __ . ,
, I and disbursed, an idea may ac formed from the
I ‘fact that, of nearly twenty millions of dollars
paid to collectors and reccwersduritig the pres-
ent year. the average amount in their hands at
any one time iias_oot exceeded a million and a
, lial_l;_. and Ufixélle hgjecn millions received by the
'tillectnr of ew ork alone during the present
year. the average amount held by him, subject
to draft during each week, has been less than
halfa million.
The ease and safety of lhe operations of the
Treasury in keeping the public money. are
I promoted by the application ofits own drafts to
~ ihe public tlues. The objection arising from
liaviiig them too long outstanding. riiight be ob-
viated,antl they yet made to afiord to merchants
and banks holding them an aquivalent for spc.
cic, and in that way greatly lessen the amount
actually required. Still less inconvenience will
attend the requirement of specie in purchases of
‘. '~ public lands. Such purchases. except when
I made on speculation. are. in general, but sin
gle transactions. rarely repeated by the same
‘person; and it is a fact. that for the last year
‘ and a half. during which the notes or sound
,banks*have been received. more than a moiety
of these payment lfiive been voluntarily made in
specie, being a larger proportion than would
have been required in three years under the
graduation proposed.
It is moreover a principle than which none is
better settled by experience. that the supply of
the precious'metal will always be found ade-
quate to the uses for which they are required.
They abound in countries where no other our-
rency is allowed. In our own States. where
small notes are excludetl, gold and silver stipply
tlieirplaces. \Vlien driven to their hiding
places by bank suspensions, a little firmness in
the community soon resioresthein in a sufficient
quantity for ordinary ptirposes. Postage and
-. other public does have been collected in coin,
ls?’ without serious inconvenience, even in states‘
,5 " where a depreciated paper currency has existed
for years. and this, with the aid of 'f reasnry
notes for a part of the time, was dotie without
interruption during the suspension of 1837. At
the present moment, the receipts and disburse-
ments of‘ the Government are made in legal
currency in the largest portion of|he.Uniou—no
one suggests a departure from this rule; and if
if it ca-n now be successfully carried out, it wll
be surely attended with even less difficulty.
when bank notes are again redeemed in specie.
indeed leannot think that a serious objection
-.v.'ou»ld any where be raised to the receipt and
payment of gold and silver is all public transac-
tions, were it not from an apprehension that a
surplus in the Treasury might withdraw a large
tpor-t-ion of it from c-irr:u*lat'~'.ori, and lock it up
luaptfofitably in the public *.Vaults.. It would not,
. in my opinion, bc'ditfl*icult to prevent such an
incorivenfienccfrorn occurring; ‘butibe authentic
s1ate_m_e_nts which have already .SUI)_[_1llll.8(I to
you ‘in regard to the actual amountiii the public
Treasury at any one time during the period
embraced in them. and,tbe little probabilityefa
(IilIéren,l stateof the Treasury for at least sortie
’ , - years to come, seem to render it unnecessary to
dwelt} upon it. Congress. moreover, as _I have
before observed. will in every year -have an op-
,portuniiy't guard aga’iU8t '11. should the occur-
—rei:_ice ofany circumstances ‘lead us to appretiend
“ finjury from this source. Viewing the subject
A in all its aspects, I cannot believe that any
-period -will be more auspicious than the present
I
E
for the adoption of all measures necessary to
mtiltilaltt the sanctity tifoiir own cngage'(néfng_
and to aid in securing to the comtnttnity that
abundant supply of the precious metals wliich
adds so much in their prosperity. antl gives such
increased stability to all tlicirtlealings.
In :1 country so commercial as outis, b:in ks in
some form will probably always exist : but this
serves only to render it the the more incumbent
on us. titimitlistatitlitig the t'liscottra;;t:riicnts of
‘hf’-_l33St. to strive in otir ‘respective stations to
mitigate the evils they produce; to take from
them as rapidly as thecbligaiionsofpnblic faith
and a crireful consideration of the immediate
interests of the community will permit. the uri-
just character of monopolies; to cliet-k so far as
ma‘! be practicable by prudent legislation.
those temptations of interest and those opportu-
tunes for their dangerous indulgence. which
beset them in every side. and to coofitie them
strictly to the performance of their paramount
duty. that of aiding the operations of r.-onimerce,
rather than consulting their own excln.-ive ad-
vantag‘e. These antl other salutary reforms may,
it is believed, be accomplished without the vio-
lation of any ofthe great principles oftbe social
compact, the observance of whit,-li is indispensa-
ble to its existence, or interfering in any way
with the useful and profitable employment of
real capital.
Institutions so framed have existed anti still
exist elsewhere, giving to cornincrcirtl intercourse
all necessary facilities, without, inflating or de-
preciating the currency. or stiinulziting specula-
tion. Thus accomplishing their lcgitirriaie ends,
they have gained the surest guarantee for their
protection and ericourageinent in the good willof
the community. Among a people sojusi as otirs
the same results coultl not fail to aitcntl ti simi-
lar course. The direct supervision ofthc banks
belongs, from the nature of otir lloverunient.to
the States who authorize them. It is to their
Legislatures that the people must mainly look
for action on that subject. But as the conduct
of the Federal Government in the management
of its revenue has also a powerful though less
immediate iuflueiice upon them it becomes our
duty to see that a proper tlirection is given to it.
\Vhile the keeping of the public revenue in a
separate and Independent Treasury, and collect-
ing it in gold and silver. will have a salutary
influence on the sysiein of paper credit with
which all the banks are connected, and thus aid
those that are souritl and well managed. it will
at the satire tiriie sensibly check such as are oili-
erwise. by at once withholding the tricans of ex-
travagzince aflbrdetl by the public funds. and
restraining them from excessive issties of notes
which they would be constantly called upon to
redeem.
I am aware it has been urged that this control
may be best attained and exerted by means of a
National Batik. The constitutional objections,
which I atn well known toentertaiii. would pre-
vent me in any event from proposing or assent-
ing to that remedy; but in atldiiinii to this. I
cannot. after past experience. bring inyselfto
think that it can any longer be extensively re-
garded as cfi‘ectiv’e for such it purpose. The
history of the late, National Batik through alli s
mutations shows that it was not so. On the
contrary, it may. after a careful consideration of
the subject, he, I think. safely stated. that at every
period of banking excess it took the leatl; that
in 1817. and 1818. in 1823. in 1831. and
in 1534. i:s vast expansions. followed by
distressing contractions. led to those ofilie State
instituiioiis. It swelled and matldeiied ilietides
of the banking system, but seldom allayed, or
safely directed them. At a few periods only
was a salutary control exercised, but an eager
tlesire,ou the contrary. exhibited for profit in the
first place; and ifaftcrwards. its rneasurrs were
severe inn-arrls nihnr inciitiilinne, li u-ne ‘mar-nnco
its own safety compelled it to adopt them. It
did nrit differ from them in principle orinform;
its measures emanated from the same spirit of
gain; it. felt the same temptation to over issues;
it suffered front. and was totally unableto avert,
those inevitable laws of trade, by which it was
iiselfalI'ected equally with them; and at least
on one occasion. at an early day, it was saved
only by extraordinary exertions l'rom the same
fate that attended the weakest institution it pro-
fessed to supervise. In 1837. it failed, equally
with others, in redeeming its notes. though the
two years allowed by its cliarterfor that purpose
had not expired. a large amount of which re-
mains to the present time outstanding. It. is
true, that having so vast a capital. and strength-
cited by the use of all the revenues of the Gov-
ernment. it possessed more power; but while it
was itself. by that circumstance. freed from the
control which all banks require. its paramount
object and inducement were left the same-—to
make the most for its srockliolrlers not to regulate
the currency of the country. Nor has it. as far
as we are. alvised. been found to be greatly oili-
erwisc elsewhere. The national cliaraciergiven
to the Batik of Etiglautl, has not prevented ex-
cessive fluctuations in their currency. and it
proved unable to keep offa suspension of specie
payments, which lasted for nearly a quarter of
a century. And why should we expect it to be
otherwise’! A national institution, thoughtle-
riving its charter from a tlillerent source than
the State banks, is yet constituted upon the same
principles; is conducted by men equally expos-
ed to temp'ation; and is liable in the same dis-
asters; with the additional disadvantages that
its magnitude occasions an extent of confusion
and distress which the mismanagementofstna|l-
er instittiiinns l.0Uld not produce. Itcan scarcely
be doubted that the recerii suspension of the U.
S. Bank of Pennsylvaoia—of which the effects
are felt not in that State alone. but over half the
Uninn—bad its origin in a course of business
commenced while it was a national instittition;
and there is no good reason for supposing that
the same consequences would not have followed.
had it still derived its powers frotri the General
Government. It is in vain,when the influences
and impulses arethe same, to look for a differ-
ence in conduct or results. By such creations,
we dotherefore but increase the tnass of paper
credit and paper currency, without checking
their attendant evils and fluctuations. The ex-
tent ofpower and the ellicacy of organization
which we give. so far from being henetical. are
in practice positively injurious. They strengthen
the chain of depentleucc throughout the Union,
subject all parts more certainly to r.-ornrr.on dis-
aster. anti bind every bank rr~nre effectually. in
the first instance. to those of our cotntnercial
cities,and, in the end. to a foreign power. Ina
word, I cannot but believe that. with the full
understandingof the operations of our banking
system which experience has produced. public
sentiment is not less opposed to the creation of a
National Bank for purposes connected witlicnr-
rency and commerce, than for those connected
with the fiscal operations of the Government.
Yet thecommercc and currency ofthc country
are suffering evils from the operations of the
State banks which cannot and ought not to be
overlooked. By their means, we have been
flooded with a depreciated paper. which it was
evidently the design of the framers of the Con-
stitution to preveni,when they required Congress
to “ coin money and regulate the value offoreign
coins.” and when they forbade the States "to
coin money, emit bills of credit.make any thing
but gold and silver atentler inpaytnentofdebts."
or " pass any law impairing the obligation of.
contracts." if they did not guard more expli-
citly against the present state of things. it was
because they could not il§1\'B_j,ll)l.lClj)aI€LI that the
few books then existing were to swell to an ex-
tent which would expel to so great a degree the
gold and silver, for which they bail provitlcrl,
frotii the channels of circulation. and fill them
with a currency that defeats the objects they had
in view. The remedy for this must chic-flv rest
with the States from whose legislation it has
sprung. No good that might accrue in a partic-
ular case from the exercise of powers not obvi-
ously conferred on the General Gnvcrunient.
would autliorize its interference, or justify a
course that tniglit. in the sliglitest degree. in-
crease. at the expense ofthc States the power of
the Fctlerzil autlioritics--iior do I dntibt that the
States will apply the remetly. VVithin the last
few years, evr-tits have appealed to them too
strongly to be tlisrt-gartletl. They have seen
that the Cullstilutitm. though theoretically adher-
ed to, is sribverteil in practice; that while on the
statute books there is no legal tender but gold
and silver, on law impairing the obligations of
contracts yet that, in point of fact, the privileg-
es conferred on banking corporations have made.
their rioles the currency ofthc country; that the
obligations imposed by these notes are violated
under the impulses of interest or convenience;
and that the number and power of the persons
connr-ctetl wiili these corporations. placed under
their influence, give them a fearful weight when
their interest is in opposition to the spirit of the
Cnnsiituiiori and laws. To the people it is im-
material wheilierihese results are pro-rliitzed by
ripen violations ofthc latter, or by the worltiiigs
of a system of which the result is the saute. An
inflexible execution even of the existing statutes
of most oftli - States, would redress runny evils
now enduretl-woultl effectually show the banks
the dangers oftnisrnanagetnent which impunity
encourages them to repeat—ant! would téachall
corporations the useful lesson that they are the
subjcctsof the law and the servants of the peo-
ple. \Vhat is still warning to effect these objects
riiust be sought in additional legislation; or. if
that be inadetpiate, in sticli further constitutional
grants or restrictions as may bring us back into
the path from which we have so widely wart-
dercd.
In the meantime. it is the duty oftlie General
'Government toco-operate with the States. by a
wise exercise of its cousituiional powers.aud the
enforcement of its existing laws. The extentto
which it may do so by farther enactincuts, I‘
have already adverted to, and the wisdom of
Congrcs: may yet enlarge them. But, above
all, it is incumb-vni upon us to hold erect the
principles of tnorality and law, constantly exe-
cuting otir own contracts in accordance with the
provisions of the Constitution, and thus serviiig
as a rallying point by which otir whole country’
may be brought back to that safe anti honored
standard.
Otrr people will not long be insensible to the
extent of the burdens entailed upon tiiem by the
false system that has be'en operating on tlzeir
sanguine. energetic, and industrious character;
nor in the means necessary to extricate them
selves from tlieso ciribarrassmeiits. The weight
which presses upon a large portion of the peo-
plc and the States. is an enormous debt, foreign
and domestic. The foreign debt of our States.
corporations, and men of business, can scarcely
be less that: two hundred millions of dollars.
requiring more than ten millions of dollars a
yet-trio pay the interest. This sum has to be
paid out of the exports of the country,and rriust
of necessity cut off imports to that extent, or
plunge the country, more deeply in debt from
year to year. It is easy to see that the increase
of this foreign debt mtist augment Ilie annual
demand on the exports to pay the interest, and
to the same extent diminish the imports; and
in proportion to the enlargement of the foreign
debt. anrl the conseqticni increase of interest.
must be the decrease of the import trade. In
tieu oi the comioris which it now nrings us. we
might have our gigantic banking itistitntioos.
and splendid, but, in many instances. prolitlcss
rail-roads and canals. absorbing. to a great extent,
in interest upon the capital borrowed to construct
Ihein, the surplus fruits of national industry for
years to come, aiitl sectiring to posterity no ade-
quate retttrn for the comforts which the labors of
theirhauds might otherwise have secured. It
is not by the increase of this debt that reliefis to
be sought. but in its diminution. Upon this point
there is, I am happy to say. hope before us; not
so much in the rettirn of confidence abroad,
which will enable the States to borrow more
money. as in a change ofpublic feeling at home.
which prompts otir people to pause in their cu-
rcer, and tbiiik of the means by wnicli debts are
robe paid, before they are contracted. If we
would escape embarrassment. public anti pri-
vate, we must cease to run in debt," except for
objects of necessity, and such as will yield a
certain return. Let the faith ofthc States, cor-
purritinns and individuals. glrcary pledged, be
kept with the most pirnctilious regard. It isdue
tootir national character. as well as to justice,
that this shouldon the part of each be it fixed
principle of conduct. But it behooves us all to
be more chary in pledging it hereafter. By
ceasing to run in debt. and applying the surplus
of our crops and incomes to tliediscliarge of ex-
isting obligations. buying less and selling more.
and imauagiog all afiiiirs. public and private.
with strict r.-coriomy and frugality. we shall see
our country soon recover from a tempnray de-
pression, arising not from natural antl permanent
causes, but frotn those I have enumerated, aritl
advance with renewed vigor in her career of
prosperity.
Fortunately for us. at this moment. when the
balance of trade is greatly against us. and the
diliiculty of nieeting it enhanced by the disturb-
ed state of our money affairs, the bounties of
Providence. have come to relieve us from the
corisequcnces nfpasi errors. A faithful applica-
tion ofihe irrimense results of the labors of the
last season will afibrrl partial relief for the pres-
ent. and perseverance in the same course will.
in due season. accomplish the rest. \Ve have
liad full experience, in times past. of the extra-
ordinary results which can. in this respect, be
bronghtabout in a short period, by the united
and welldirected efforts of a community like
ours. Our stirpltis profits, the energy and indus-
try of otir population. and the wonderful advan-
tages t-vhich Providence has bestowed upon our
country, in its climate, its various productions,
ll'ltIIS[‘I6ll5l'.l)l8 to other nations. will, in duetime.
afford abundant means to perfect the rriost use-
ful of those objects, for which the States have
been plunging thetriselves of late in embarrass-
ment arid debt, witliotit imposing on ourselves
or our children such fearful burdens.
But let it be indelibly engraved on otir minds
that reliefis not to be found in expedietits. In-
debtedness cannot be lessened by borrowitig more
money, or changing the form of the debt. The
balance oftrade is not to be turnerl in our favor
by creating new demands upon us abroad. Our
currency cannot beimproved by the creatiotrof
new banks. or more issties from those which
now exist. Although these tlevices sometimes
appear to give temporary relief. they .almost iii-
variably aggravate the evil in the end. It is only
by retrenchment and refortn. by curtailing pub-
lic and private expenditures. by paying our
debts. and by reforming our booking system.
that we are to expect efleciual relief.'_8ecurity
for the future. and an enduring prosperity.’ In
shaping tbeinstitutions and policy of the General
Government so as to promote. as far as it can
with itslimited powers. these important ends.
you may rely on my most cordial co-operation.
That there should have been. in the progress
of recent events, doubts in many quarters, and
in some a heated opposition to every chuiigc,
cannot surprise us. Doubts are properly attend-»
ant nn all reform; and it is pt=culiarl_v’i'n the na
to re of such abuses as we are now ttllCOUUl8fll'fg,
to seek to perpetuie ilieir pm-rcrby means ofthc
ii'fIueimethcy have been pcrriiiitt-tl to at-quire.
It is their result if not their object. to gain for
the few an ascendancy over the many. by se-
curing to them a rriotiopoly of the currency. t_bc
medium tlirougli which most of the waritsol
mankind are supplied-to produce throughout
society a chain of dependence which leads all
classes to look to privileged associations for the
means ofspeculatinu and extravagance-—to notir—
isli, in prcferenr.-e to the manly virtues that give
tllvttlty to human nature. a t-ravingrlesirt-. for
luxurious enjoyment and sudden ‘\'(‘Zllll|, wliich
renders those it ho seek iliem dependent on those
who supply them—-to substitute for Republican
simplicity and 'econoniic_al habits a sickly appe-
tite for ell".-minatc IlltIlll_-‘€ll(.'t‘, aml an iinitaiinn
of that rcckles c-xtravagarzce which ltnpr)\-'criSli-
ed and enslaved the industrious people of foreign
lands; and at last, to fix upon "us, instead of
tlioseuequal political rights. the acquisition of
which was alike the object and supposed reward
of our Revolutionary struggle. 3 system of exclu-
sive privilegos conferred by paziial legislation.
To remove the iufluenccs which had thus gratin-
allv grown up uniting us—to deprive tlieitt of
their deceptive advziiitagt-s—to test them Jy the
light ofwisdom antl lrt‘tillt—l0 oppose the force
which they concentrate in their support——alltliis
was necessarily the work of time, even among a
people so erilightenetl and ptire as that ofilic U.
States. In most other countries, perhaps. it
could orilv be accotiiplislietl througli that series
of revolutionary irioverneuts, which are toooften
found necessary to effect any great and radical
reform; but it is the crowning merit of our in-
stitutious, that they create and nt)l)l'l\‘I] in the vast
majority of our people. a disposition and a pow-
er peaceably to remedy abuses which have else-
wlicic caused the effusion of rivers ofblnotl, anti
the sacrifice ofthonsantls of the linman rar'e.—-
The result thus fair is most honorable-to the sell"
denial, the intelligence and the patriotism of our
citizens; itjustifiestlie confident hope that they
will carry through the reform which has l)(Cll
so well cegun. they will go still further than they
have yet gone in illustrating the important truth.
iliat a people as free and enlightened as _ours.
will. whenever it becomes necessary, shew them-
selves tn be indeed capable of self-goveriimerit.
by voluntarily adopting appropriate remedies for
every abuse,and submitting to temporary sacri~
fice. however great, to insure their permanent
welfare. ' ,
My own exertions for the furtlicrance ofibcsc
desirable objects have been bestowed throughot.-t
my ofiicial career with it zeal that is nourished
by ardent wishes for the welfare of my country,
and by an unlimited reliance on the. wisdom that
marks its ultiinaie decision on all great and cori-
trovertetl questions. Iinpressctl with the soleriin
obligations imposed upon me by the Constitution.
desirous also of layirtg before my fellow citizens.
with whose conlitlcncc and support I have been
so highly honored. such measures as appazir to
me contluciveto their prnsperity—aud anxious
IO submit to to their fullest consideration the
grounds npori which my opiriitinsfare formed. 1
have on this, as on preceding occasions. freely
offered triy views .on those points of domestic
policy that seem". at the present time. most prom-
inenily to require the action ofthc Government.
I know that they will receive from Congress that
full and al)lcc()iisiderniinn xvhich tlit; lttl{)0l'l2ll'lCC
of the siiujects merit. arirl I can repeat the assur-
ance lieretoforc matte, that I shall cheerfully
and readily co-operate with you in every meas-
ure that will tend to promote the welfare of the
Union. ' M. VAN Dumas.
December 2. 1839.
lt\’l©fl?£‘lMAlL.lK OAZETTEF-2..
IVEDNESDAY, JANUARY 1, 1840.
FOR PRESIDENT,
WILLIAM 1-i. HARRISON,
or onto. '
JOHN TYLER,
OF VIRGINIA, FOR VICE PRESIDENT.
THE Mi:ss.ior:.-—'l‘hat longcxpccted docu-
ment the President‘s message has at length
come to hand. It was received after our outside
form was made up and rearly for press. but by
it little extra exertion we made room for ’-"two
columns, and the residue. as will be perceived.
occttpies nearly the whole of the inside. The
President has devoted the greater part of this
communication to show the expediency audite-
cessity of separating the financial concerns of
the government from banltinginstitutions. An
lndepcrtdent Treasury is the btirdeti ofhis soul.
and on this subjeci_liis views, are labored in the
extreme. and more special pleading is re-
sorted to to make. them good. than has ever
before. we presume. cliaraoterizcd a docume:.t
ofthis nature. It is to be rt-grated, that in his
zeal for this favorite project, Mr. Van Buren has
entirely failed to propose any present meansof
relief from the embarrassments under which
the country is struggling.
Ile thinks, that under existingcircumstanccs.
defalcations have been far less frequent than
might have been expected. and saysthe aggre-
gate amount of loss (not estimating the Swan-
out defalcations) sustained in the collections of
the revenue, cannot. it is lielieverl, exceed
$60,000! In another place. however, a dis-
tinction is made between collectors and receivers.
and dislittrsing officers. and the latter are ad-
mitted to be defaulters to a greater extent than
the former.
The credit system is repudiated, and the
transactions ofgoverutnent recommended to be
carried on in gold and silver. This it isthought
can be done with the utmost ease and facility
by the assistance of treasury drrrfls ! Besides
a settled conviction of the inutility of banks for
government purposes. the President feels a
great deal of patriotic dread that the chain of
dependence which links the institutions of this
country with those of England, may bring into
exercisea dangerous political influence.
A co operation with the State Legislatures is
determined upon, to suppress the excessive is-
sues oftlepreciated batik paper.
Our relations with other countries are ofquite
a friendly character. '
The Exploring Expedition is disposed of in
a little over four lines; and the Florida war, too,
receives but a passing glance. Notbingis said
about the blood /totutrls.
_...—
The P. 0. Department during the year end
ing the 30th June last. increased its II'1_L‘Dnl(
$241,000 over the preceding year, but the ex
penscs have been about 200.000 more than thr-
receipts. ,'I‘ll.5 excess has been paid out of:
surplus fund that had previously accumulated.
new amounting to $206,000.
The finuiicial ope-ratioris of the country IIZi\’t"
been successful. The faith of the government
in all its pecuniary concerns has been scrupu-
lously inairitaiiictl, l’lOl\\'IlllSl:ltl(IIDg the drfcrtls
in the existing laws relative to the s:.f't.- keeping
Of the $I9,000,000 of
Treasury nnics i.-sued. there have Lecn at no
time rr:ore than 10.000000 out standing, and the
anioiint now uiirctleenictl falls short nf3.000.000.
The public P.\‘p(‘nS(.’S are to be l'{‘tIU(‘etl this
year ('40) from the stantlartl of ‘37 (33.000.000)
to about 17.000 000. if congress can be seduced
into the tzrrongr-riicnt, It has required a some-
of the public money.
what longer period than Ge_n.Jaekson anticipa-
ted to get his rctrcnt-htncnt tiicriryjnto successful
practice.
The preemption law is said to have worked
well. anl its effects upon the settler and the
treasury. have been most happy,
Sundry other matters, among whit-li are the
army anti navy, have receivctl attention, bill for
want of room we are compelled to pass ‘over
at this time. V/c shall take occasion to allude
to this docti merit hereafter.
Co.\'tti:r.ss.——All the lie“ sol interest we have
from the capitol is, tl_ie refusal of the House to
permit the Jersey ineinbcrs to qualify and rake
their seats. The vote on this question stood 112
to H116. Hugh A. Garland, the old Clerk. has
been reclt-ctrd by a union of the Nullifiers and
the atlrtiiiiistratiori rncn.
i\I.iss.— SIXTH D|s'I‘l'.lL"I‘.-- The Express says
tl)&l thirty three towns heard from. give Baker,
.‘22-1-5-—Dickinson 1S8‘I—SCi)llCfl!lg 506. There
are seven towns to be heard from. in wliicli there
are 252 votes :o ovcrcnuic. wliich renders Ill
. - . . . . l
improbable asioa t-boice. aliliough It is possible. I
To THIS t'I‘ Il.\§ com-1 AT l..\S’I‘l--The.
, . . . l
I‘l0TlIl8 war v.liicli has been so vigorously,
carried on on the atliniiiistrtitinn plan of ccon—f
. ' l
omy, is now to asstirne a new aspect. The;
government has til.-‘ltalL‘ll’3(I a vessel to Ilavanal
l
the return of which is daily exientcil. for a;
cargo of bloorl/'roumr's.’ These animals are tnl
be cmployctl in lzuniing down the fragment:
of the aborigines who fiiitl shelter in the:
swamps and fastncsses of Florida.
l
MARRIAGES. g
I
x
In this town, on the 25th tilt. by the Rev.
Dr. lfead. Mr. Lcgrztnd Joliiison to Miss Mary
E. Bell, tititli nf Norwnllt.
On the 30th tilt. Mr. Leonidas Stevens of Dr.-i
rien. to Miss Mary St!lli—‘(‘.I{ of the sortie alace.
In Daubury. on the 2'3d tilt. by the Rev. Mr.
Nicltcrson, Mr. Filijili Barnum of Daubury, to
Mrs. Clarissa Lobtlcll of Brookfi.-zld.
In Brockficld, on the 15th. by the Rev. Mr.
Cook, Mr. Hirtttn Birb-er of Dinbury. to Miss
Phclic Hatch ofthc formt-r place. ,
In Newtown, by the Rev. Mr. Ilitclicock,
Bryant Smith. Esq. of Brookfioltl, to Miss Caro-
line Blackmtizi ofthc former pltir.-rt.
DEATHS.
ln Danbttry on the 21st ult. Mr. Daniel W.
Hoyt, aged 59. While engaged at work, he
uttered at single groan, IPII to the floor, and in-
stantly expired. His death was attributed to the
rupture ofa. blood vessel near the heart.
IE?’ TI-IE Norwalt; Lyceum will meet at the
Town House, ncxtTliursday evening at half
past six o'clock.
ExF.ncisr~‘.s.—A Lecture by \Vni. A. Barlow.
A debate on the que.-tion——0ugIit 1/ze 72ri'xr,-arc
property of Bank Stun];-liufrlers to be liable fit?’ the
Bani: issues? War. ATWILL. Se'e‘v.
December 23. 1839 '
ATTENTION, wnfosi
The Whigs of the town of Norwalk. are
requested to incetat: the Hot» I of Dztvitl Steven-
son, in Norwalk, on Friday, the 3d day of inst.
Jaituary, at 7 o’clock. P. u.,to appoint Dialog-nt.ei=
to atteiid the State Convention to be holdcn at
New Haven on Ilie 15th day of January, 1840.
A pttncttitil attendance is rcqitestcd.
By order of the Town Committee.
Norwalk, January 1. 1840.
NEVV CANAAN.—The Whigs of the town
of New Canaan, are requested’ to meet at the
liotise of Amos Ayrcs, on 1"i-id.-ty evening. 3d
inst. at 7 o’clock. to appoint Delegatt s to the
Stnte Convention, to be holden in t.he city of N.
Ifttven on the 15th instant. A punctual attend-
ance is requested. '
By order of the Town Committee.
New Can.-ian,Janttary 1, 1840.
DARIEN.—~The Whigs of Dorian, will hold
:1 meeting at. tho t.nns~3 of Albert Sceley. on
Friday evening, (Jan. 3d,) at 7 o'clock, mr tin-.
purpose of appointing De egates to attend the
State Convention. to be holdeii at New Haven
onthe 15th inst. A punctual attendance is re-
quested. By order of the Town Committee.
Darien,January 1st, 1840.
WILTON.—'I‘lie Whigs of the town of
\Vi1ion, are requested to meet at Town House,
on the 3d instant, at 7 o’clock. P. iii.. to appoint
Delegates to attend the \Vliig State Convention.
to be liolden at New Ifrivcn on the 15 It instant.
A punctual attendance is requested.
' By order oftlie Town Committee.
VVilton, January 1, 1840.
FOWLING PIECE.
Bea-ntifui and highly finished Fowling
Piece for sale at a bargain.
NORMAN Axum-:w~.
TOIIIATO PILLS.
MILES’ COMPOUND EXTRACT OF
TOMATO,
THE original and only genuine Tomato
Metlicine—t.he only medicine that. is ;-
substittite for Calomel. Any person. by CtlilIn:j
upon the agents, can have the privilege of read-
ing the components of the medicine. For sal-
by E. 6: \V. E. Brssr-:i.r.,
the only Agents for Norwalk.
Januarv l, 1840. If 7
Tan Sloop "Citizen, will leave
Norwalk, for New York. on the
evening ofthc 6th inst., and Will
tilte produce and freight generally.
MONSON’ IIOYT.
Court of Probate for the District of
Norwtilk. bath limited‘ and allowed six
nontlis from the date hereof, for the crcrlitors to
be estate of Asa Olmsted. late of Wilton, tlcc’il,
‘o rxbibit their claims for s ttlement. Those
.vhoiie@ect. to pr ~sent tbrir accoiinte, properly
ittcstetl. within said time, will be dc-barred 9.
recovery. All persons indebted to said estate,
are rrquested to make immediate payment to
Diwm W’. OLMSTED, I'lx"cutor.
Wilton, Dec. :-)0, ]e39_ :_-in
1‘AI{EN UP by the suliscriber. it last Spring
CALI". The owner can have the satire by
proving property and paying charges. '
NATIIAE M.irtvm.
3=7
Vlfilton, Dec 1.1839.
\VIN'I‘ER STRAINED SPERM OIL
- F a spupcrior quality. this tlnv rr~t'eiv-..d
and ft r Sfllt’ clienp by E. «SE. \V. E. Bissr;1.L.
Doc. 31 1839.
FOR SALE,
THE Dwelling House of the s-:_'ib-
scribo-.r. sitiirttcd tt few rods w-st of
the Bridge, one of the most, eligible
locations in the villtsgu. To l.ll!;m in
o lttisiiiess or plcastirc, it is. perhaps, its cr.:.'<-
Vcnicnlly located as could be wished, being sitt:-
at- d nri the main rottdtothe Steanibnnt L-oiling
or N. York. The house is 2 stories high. 29 by
30 f. ct on the ground. with an 8 feet prt-jv-ration
on the rear. The arrtingctnent. of the int:-ri-yr
of the building is probably equal to any in the
village for comfort. and conveniericc. There. it
it well planned Barn and several cnnveuiri-;~nl:
tuthotiscs on the premises, with an excellent
garden in the rear and a. well of water conven-
iantly sifu -ted to the house, Any persnn wishiig
to purchase property like the above, at a bargain.
will firttl it an object to view the prernises, vs
the subscri'~.er is determined to dispose of it.
previous to rli~ lst of March. 1840. if he car:
get any thing like what it is worth. The con-
dition ofthe sale will be, one fourth lllt‘ |)Ul'L'I‘l:lSG
money to paid on the delivcry of the deed, the
rest may remain on bond and mortgage.
L. M. Swcvnxs.
N0£\VfllI{. January 1. I340. 2n-7
BRIDGEPOR '1' Hi) 'I'1;'L.
Tm: subscriber would respectfully
iiifnrtii his friends and the public gen-
3%’,-; erally. that he has taken possession.
4335- for a tertit of years. ofthc above flo-
tcl, formerly occupied by Henry Barnum, situ-
.-itcd on the cnrrier of Main and State strects.--
The same has been thoroughly overhauled, and
he would be happy to wait on all who may fu-
vor him with their company.
Horses and Carriages in let.
Pnii.o F. BAREUM.
The snbscriberis agent for John Adi-iaiice’s
pater! improved Cast Iron Corn Sbellcr. This
machine will shell a bushel of corn in one miti-
tile. and i.-tdecidetlly the best machine. that has
ever been nil‘.-red to the public.
The siibscriber alsooffiers. for sale Dudley L.
l-‘arriaiiiis Potent Hydraulics. viz: Fire Engine-s.
Lift and Force Pumps. These are mnrc ca-il_v
kept in order. and are less expensive than E-ll_'4
other kind. The public are respectfully invitml
to t-xtiniine these Pumps at the subscrit.-er‘.-: rc.~‘.i-
dence, and satisfy themselves as to their eXI:t'l-
lence. 1’- 17- I5-
Iiriilgnpnrl. NHV. If
_ IVOTICF.
‘I HE stihscrilrcrs having been appoint_r~d. by
the I-jirin. Court of Probate for the DlsIrIt'l
ofStatiiforil, Com rriissioners‘ to receive. cxarnirie
and report upon the claims of the creditors of
the esinit-of Mills Locl:u-cod. late of Greenwich.
in said‘ District, deceased. hereby give notice
that we will meet for the purpose aforcsaitl, at
.t.li‘t_§.-_.I‘»ritt_1 of Benjamin Page, in said flier.-nwiclr.
on the first 'I‘uesrlu_vs of March and May In xi.
at Ill o‘clock on each of said days. Six months
fronrtlie 18th day of November last. have been
limited by said Court forthe exliibition and proof
of claims against said estate.
. . ALFRED Ruxnnn. 2_
J Tnos B. Bu'rr.i:it, 3
Norwalk. Dec. I8. 1839.
._.....
Comm'rs.
0‘ 3:6
'1‘ HE Court of Probate for the District of
. Norwalk. hath limited and allowed six
tTl.lHlllS from the date hereof, for the creditors to
rlcccnscd. to exhibit their claims for settlement.
Those who neglect to pre.-tcnttlieir accounts. pro-
pcrly arrested, within said time. will be dc-b:.irr-
etl ti recovery. ‘All persons indebted tosnid es-
tutc, are requested to vnakr-. irnmetlime pavmerit
in Tr-ros. B. BUTLER. Adin‘r.
Norwallt. December 23. 1839. ' 3 6
NOTICE.
V ‘HE Bonk Accmluts and |)ii.siness Notes of
the Hon. T. BETTS. are left for settlemcm
with the subscriber. who may be founrl at the
Ollice recently occupied by Mr. Berta, ready in
attend to them, or transact any other profession-
al business. Triomis B. BuTi.i~:it.
Norwulk. Dec. 16, 1839. if 5
NOTICE. fl
. IIE Court of Probzre for the District of
Daobury. has appointed the subscribers
Comniissioners to receive, examine and adjust
the claimsof the several creditors to the estate
of P/i.2'l7'p Daur-hy. late of Daubury, deceased.
represented insolvent; and said Court has al-
Iowctl six months from the date hereof. for the
exhibition of claims against said esiaie.‘,j,\Ve
do therefore give noticeto all whom it may cun-
ccrn, that we will meet for the purpose aforesaid,
at the dwelling house of Albin Jennings of
Ridgefield. in the district aforesaid. on Monday.
the 30th ofinsi. December. and on the last Mon.
iiayorrttpril next, at one o'clock on each of said
days.
2,, z Gain missioners.’
Ridgefield. Dec. 6, 1839. 35*
TAKE PARTICULAR -NOTICE.
HE'subscribcr feeling a sense of gratin.-tl.r.
for the liberal patronage that has hitherto
been extended to him. would take this opportu-
nity io make his acknowledgnients. and solicit
:1 continuance. of public favor. Anxiousio give
general satisfaction. no means will be ncglectetl
to secure the approbation of his custriniers.
To those whose accounts are of more than six
months standing, he would gently hint, that an
ivnrnediate settlement is nbsoltiiely'neccs.-wiry.
"A word to the wise is sufficient." __
JFHIAL Grit}:/r::.ti.~'.
if 5
\Vilton. Dec 13. 1839.
JABIES C. LOOMIS, '
Attorney anrl Counsellor at Low,
‘-,.‘_'E" AS removed to the city tifBl'ItIgPpttr!. and
‘-3 taken an office overtbe store of Messrs.
Hall and Niles. in State street.
April 23. 1839.
§§V HE subscriber having resumed the praciir.-c-
3 of Law. tenders his professional services
n the public. CLARK BISSELL.
Noni.-alk. May 20th. 1839. if 115
BUFFALO ROBES.
FOR SALE by the dozen or single by.
Ciuttrat-3.9. 1.-8.1,t.t\cs.
ifll2
Norwalk. Dec. 13. 1839.
,_,LEl.GI-1 BELLS, fur .ai';‘.‘t’.y _ .
59 (}a..tiu.Es ISA_A_C§.. -
Norwalk, Jan. I, 18-10
‘December 15, 1839-
the estate of Samuel F. VI7n'!e. late of Norwallt. _
Norwalk Chronicler