accruing interest en borrowed money—;mid faith, directed to that end; and ha, \ a sum exceeding half the ordinary rove men so continued to the present moment. noes of the whole United States. Th , l'he estimates and appropriations for tht pretext which this relation affords to for tear 1838 (the first over which I had any signers to scrutinize the management of control ) were somewhat diminished The our domestic affairs, if not actually to in. expenditures of 1839 were reduced six termeddle with them, presents a subject ]nillions of dollars. Those of 1840, ex• for earnest attention, not to say of serene. elusive of disbursements for public debt alarm. Fortunately the Federal Govern. Ind trust claims, will probably not exceed ment, with the exception of an obligation twenty two and a half millions; being be. entered into in behalf of the District of tween two and three millions less than Columbia, which must soon be discharged, those of the preceeding year, and 9 or 10 is wholly exempt from any such ember- millions less than those of the year 1837. rassment. It is also, as in believed, the Nor has it been found necessary, in order' only Government which, having fully and to produce this result, to resort to the faithfully paid all its creditors, has also power conferred by Congress, of post. relieved itself entirely from debt. to, finning certain classes of the public maintain a die tinction so desirable, and ' works, except by deferring expenditures so honorable to our national character, for a short period upon a limited portion should be an object of earnest solicitude. of them; and which postponement terinin- Never should a free people, if it he possi- ated some time since, at the moment the We to avoid it, expose themselves to the Treasury Department by further receipts necessity of having id treat of the peace, from indebted banks, became fully assure the honor, or the safety of the Republic, ed of its ability to meet them without pre with the Governments of foreign credi.judice to the public service in other re-] tors, who, however well disposed they spects. Causes are in operation which' may be to cultivate with us in general will, it is believed, justify a still further , , friendly relations, are nevertheless, by reduction, without injury to any impor the law of their own condition, madehos.. tent national interests. The expenses tile to the success and permanency of po• of sustaining the troops employed in Flor litical institutions like ours. Moss humil ida have been gradually and greatly re 1 Wing may be the embarrassments conse. duced, through the persevering eflbrts of quent upon such a condition. Another the War Departmet; and a reasonable objection less formidable, to the coin- hope may be entertained that the necessi mencement of a new debt, is its inevita• for military operations in that quarter ble tendency to increase in magnitude, will soon cease. The removal of the In and to foster national extravagance. lie diens from within our settled borders is has been an unprofitable observerof events nearly completed. The pension list, one who needs at this day to be admonished of the heaviest charges upon the Treasti• of the difficulties which a Government, ry, is rapidly diminishing by death. The habitually dependent on loans to sustain most costly of our public btildings are its ordinary expenditures, has to encoun- either finished or nearly so; and we may, ter in resisting the influences constantly I thing, safely promtse ourselves a con exerted in favor of additional loans ; by tinued exemption from border difficul capitalists, who enrich themselves by ,ties. Government securities for amounts much I The available balance in the Treasury exceeding the money they actually a d. on the first of January next is estimated vanes —a prolific source of ag grandize. at one million and a half of dollars. This ment in all borrowing coun tries; by ] sum with the expected receipts from stockholders, who seek their gains in the ,all sources during the next year, will, it rise and fall ot public stocks ; and by the is believed, be sufficient to enable the selfish importunities of applicants fur ap- Government to meet every engagement, propriations for works avowedly for the ' and leave a suitable balance in the treas. accommodation of the public, but the real ury at the end of the year, it the remedial objects of which are, too frequently the measures connected with the customs and advancement of private interests. Th e the public lands, heretofore racommen. known necessity which so many of the'ded, shall be adopted, and the new ap- States will be under to impose taxes for Propriations by Congress shall not carry the payment of the interest on their debts, the expenditures beyond the official esti furnish an additional and very cogent rea- mates. son why the Federal Government should The new system established by Con refrain from creating a national debt, by gross for the sate keeping of the public which the people would be exposed to money, proscribing the kind of currency double taxation for a similar object. We to be received for the public revenue, and possess within ourselves ample resources Providing additional guards and securities tor every emergency; and we may b e against losses, has now been for several quite sure that our citizens, in no future months in operation. Although it might exigency, will be unwilling to supply the be premature, upon ex periance of such a Government with all the means asked for limited duration to furm a definite opins the defence of the country. In tune of ion in regard to the extent of its influen peace there can, at all events, be no justi- cos in correcting many evils. under ‘vhich fication for the creation of a permanent the Federal Government and the country debt by the Federal Government. Its have hitherto suffered, especially those limited range of constitutional duties may that have grown out ot banking expan certainly under such circumstances, b e sions, or depreciated currency, and official performed without such a resort. It has, defalcations, yet it is but right to say it is seen, been avoided during four years that nothing has occured in the practical of greater fiscal difficulties than have ex- operation of the system t o weaken in the isted in a similar period since the adop. slightest degree, but much to strenglithen tion of the constitution, and one also re- the confidant anticipations of its friends. markable for the occurrence of extraordi The grounds of these have been hereto nary causes of expenditures. fore so fully explained, as to require no But to accomplish so desirable an ac- recapitulation. In respect to the facility ject, two things are indispensable: first and convenience it aff o rds in conducting that the action of the Federal Govern• the public service, and the ability of the went to be kept within the boundaries Government to discarge through its agen prescribed by its fouudcrs, and secondly, cy every duty attendant on the collection, that all appropriations for objects admit transfer and disbursement of the public ted to be constitutional, and the expendi• money with promptitude and success, I can say with confidence that the apprehen. tare of them also, be subject to a standard of rigid but well considered and practical sions of those who felt it to be their duty economy. The first depends chiefly on to oppose its adoption, have proved to be the people themselves, the opinion they unfuunded. On the contrary, this branch form of the true construction of the Con • of the fiscal of the Government has been stitution, and the confidence they repose and it is believed may always be, thus in the political sentiments of these they se- carried on with every desirable facility lect as their representatives in the Fed- and security. A few chang es and im eral Legislature ; and the second rests Provements in the details of the systeni, upon the fldelitywith which their more without affecting any principles involved immediate representatives, and other in it, will be submitted to you by the public functionaries, discharge the trust Secretary of the Treasury, and will, I ant committed to them. The duty of econo- sure, receive at your hands the attention mixing the expenses of the public service to which they may on examination, be is admitted on all hands ; yet there are found to be entitled. few subjects upon which there exists a I have deemed!this brief summary of our fiscal affairs necessary to the due per. wider difference of opinion than is con formance of a duty special enjoined upon stantly manifested in regard to the &telt ins by the Constitution. It will serve, ty with which that duty is discharged.— Neither the diversity of sentiment, nor also to illustrate more fully the principles) b even mutual recriminations, upon a pointy which 1 have been guided in reference in respect to which the public mind is so to two contested paints in our public poll justly sensative can well be entirely avoi- cy, which were earliest in their develop ded; and least so at periods of great po- mews, and have Leen more important in litical excitement. An intelligent people their consequences, than any that have however, seldom tail to arrive in the end, arisen under our complicated and difficult, at correct conclusions in suet a matter. yet admirable system of Government; 1 Practical economy in the management of allude to a national debt and a national public affairs can have no adverse influ- bank. It was these that the political ence to contend with more powerful than contests by which the country has been a large surplus revenue; and the unusual. agitated ever since the adoption of the ly large appropriations of 1838 may with. Constitution in a great measure origina out doubt, independently of the extraors led; and there is too touch reason to eap dinary requisitions fur the public service Prehend thot the conflicting interests and growing out of the state of our Indian re- opposing principles thus marshelled, will lotions, be, in no inconsiderable degree, continue as heretofore, to produce similar traced t o this source. 'rite sudden and if not aggregate consequences. rapid distribution of the large surplus Coining into office the declared enemy then in the Treasury, and the equally of both, I have earnestly endeavored to sudden and unprecedented severe revul- prevent a resort to either. sion in the commerce and business of the The consideration that a larg e public country, pointing with un erring certainty to a great and protracted reduction of the revenue, strengthened the propriety et the earliest practicable redact ion of the of the public expenditures. But, to change a system operating upon so large a surface. and applicable to such numerous and diversified interests and ob. jade, was more than the work of a day. The attention of every department of the Government was immediately, and in debt affords an apology, and produces in some degree, a necessity also, fur resorts ing to a system and extent of taxation which is nut only oppressive throughout, but likewise so apt to lead, in the end, to the commission of the most odious of all offences against the principles of Repub- lican Government—the prostitution of political power, conferred for the general benefit, to the agrandizement of particu classes and the gratification of individual cupidity—is alone sufficient, independent ly of the weighty objections which have tlready been urged, to redder its creation end existence tile eources of bitter and inappeasable discord. 11 we add to this, is inevitable tendency to produce anti foster extravagant expenditures of the public money, by which a necessity i:• created for new loans and new burden, In the people; and, finally, if we refer to the examples of every Government wide!) has existed, for proof, how seldom it is that the system when once adopted and implanted in the policy of a country, has tailed to expand itself, until public credit was exhausted, and the were no longer able to endure its increasing weight, it seems impossible to resist the conclusion, that no benefits resulting from its career, no extent of conquest, no accession of wealth to particular classes; no• ally, nor all its combined advantages, can counter balance its ultimate but certain resul ts— a splendid Government, and an impover ished people. Ha National Bank was, as is undeniable repudiated by the framers of the Consti. tution, as incompatible with the rights of the states and the liberties of the people if from the beginning, it has been regarded by large portions of our citizens as coming In direct collision with that great and vi tat emendment of the Constitution, which declares that all powers not conferred by ' that instrument on the General Govern ment are reserved to the States and to the people; if it has been viewed by them as the first great step in the march of latitu . dinous construction, which, unchecked, would render that sacred instrument of as little value as an unwritten Constitution, dependent, as it would alone be, for its meaning, on the interested interpretation of a dominant party, and affording nu security to the rights of the minority ; if such is undeniably the case, what rational grounds could have been conceived tot anticipating aught but determined opposi tion to such an institution at the present day. Could a different result have been ex pected when the consequences which have flowed from its creation, and particularly from its struggles to perpetuate its exis tence, had confirmed in so striking a manner, the apprehensions of its earliest opponents; when it had been so clearly demonstrated that a concentrated money power, wielding vast a capital, and combining such incalculable means of in. fluence, may in those peculiar conjectures to which this Government is unavoidably exposed, prove an overmatch for the po litical of the people themselves; when the true character of its capacity to reg ulate according to its will and its interests, and the interests of its favorites, the value and production of the labor and the property of every man in this extended country, had been so fully and fearfully developed; when it was notorious that all classes of this great community had by means of the power and influence it thus possesses, been infected to madness with a spirit of heedless speculation; when it had been seen that, secure i,i the support of the combination of influences by which it was surrounded, it could violate its charter, and set the laws at defiance with impuni ty, and when, too, it hail become most • apparent that to believe that such an ac cumulation of powers can ever be granted ' without the certainty of being abused, was . . to indulge in a fatal delusion: To avoid the necessity of a permanent debt, and its inevitable consequences, I have advocated and endeavored to carry into effect the policy of confining the ap% propriations for the public service, to such objects only as clearly within the' constitutional authority of the Federal Government; of excludin g from its expen sea those improvident an d unauthorized grants of the public money for works of internal improvement, which were so wisely arrested by the constitutional in- terposition of my - predecessor, and which if they had not been so checked, would long before this time have involved the fi nancesof the General Government in em barrassments far greater than those which are now experienced by any of the States of limiting our expenditure to that sim ple, unostentatious, and ecunninical ad.. ministration of public affairs, which is a lone consistant with the character of our institutions; of collecting annually from the customs, and the sales of public lands a revenue fully adequate to defray all the expenses thus incurred, but under no pre Witco whatsoever, to impose taxes upon the people to a greater amount than was actually necessary to the public service, conducted upon the principle I have sta ted. In lieu of a national bank; or a depen• dance upon banks of any description, for the management of our fecal affairs, I re. commend the adoption of the system which is now in successful operation.-- That system affords every requisite hien ity fur the transaction of the pecuniary concerns of the Government; will it ;s confidentially anticipated, produce in oth er respects many of the benefits which have been from ° time to time expected from the creation of a national bank, but which have never been realized; avoid the inanitold evils inseparable from such an institution; diminish, to a greater ex tent than could be accomplished by any other measure of reform, the patronage of the Federal Government—a wise policy in all Governments, but more esi.eciall) so in one like ours, which works well on ly in proportion as it is made to rely foi its support upon the unbiassed and unad ulterated opinions of its constituents; lb. away, forever, a!l dependence on corps rate bodies, either in the raising, collec king:safe-keeping or disbursing the pub 'lc revenues, and place the Government) •qually above the temptation of fostering t dangerous and unconstitutional institu tion at home, or the necessity of adopting, .ts policy to the views and interests of a ,till more formidable money power woad. It is by adopting and carrying out these principles, under circumstances the must mrduous and discouraging, that the at• tempt has been made, thus far successful ly, to demonstrate to the people of the (Jolted States that a National Bank at all times; and a national debt, except it be in curved at a period wnen the honor and safety of the nation demand the tempora ry sacrifice of a policy, which should on. ly be abandoned in such exegencies, not merely unnecessary, but in direct and deadly hostility to the principles of their Government, and to their own permanent welfare. The progress made in the develope ment of these few positions, appears in the preceding sketch of the past history and present state of the financial concerns of the Federal Government. The facts there stated fully authorize the assertion, that all the purposes for which this Gov ernment was instituted have been accom 4ilished during four years of pecuniary' lembarressmentthan were ever before ex perienced in time of peace, and in the Lace of opposition as formidable as any that was ever before arrayed against the policy of an Administration; that this has been . done when the ordinary revenues of the Government were generally de creasing, as well from the operation of the laws, as the condition of the country, without the creation of a permanent pub lic debt, or incurring any liability, other Chan such as the ordinary resources of the Government will speedily discharge, and without the agency of a National Bank. If this view of the proceedings of the Government, for the period it embraces, ' be warranted by the facts as they are known to exist; if the army and navy 4 have been sustained to the full extent au• thorized by law, and which Congress ; deemed sufficient fur the defence of the defence of the country and the protection of its rights and its honor; it its civil and diplomatic service has been equally sue tamed; if ample provision has been made for the administration of justice and the execution of the laws- ' if the claims upon public gratitude in behalf of the soldiers of the Revolution have been promptly met and faithfully discharged; if there have been no failures in defraying the very large expenditures growing out of that long continued and salutary policy of peacefully remoNing the Indians to re gions of comparative safety and prosperi tj —it the public faith has at all times, and every where been most scrupulously maintained by a prompt discharge of the, numerous extended, and diversified, claims on the treasury; if all these great, and permanent objects, with many others that might be stated, have for a series of years, marked by peculiar obstacle and difficulties, been successfully accomplish ed without a resort to a permanent debt, or the aid of a national batik, hive we not a right to expect that a policy, the ob ject of which has been to sustain the pub lic service independently of either of these fruitful sources of discord, will re• ceive the final sanction of a people whose unbiassed and fairly elicited judgment up on public affairs is never ultimately wrong?.._ [The remainder next week. Toestated wail of Scire Fic• cias Sur Mechanics Lien, issued out of the Court of Common Pleas of Hunting don county, has been placed in my hands for service, &c., of which all persons in terested will take notice. JOSEPH SH NNON HUNTINGDON COUNTY, ss. - 41 - !IF,' Commonwealth of Pennsylva nia to the Sheriff of said County , Greeting: whereas John M. Cunningham ' and Thomas Burchnell, acting under the firm of Cunningham and Burchnell, have filed a claim in our County Court of coin mon Pleas for the county of Huntingdon aforesaid against Rev. James Stevens late of the said county, for the sum of One Thousand and Ninety-six dollars for work done to, and materials furnished for a certain building, to wit, "All that certain two story frame Warehouse, situ, ate in the borough of Petersburg in said county, fronting on the basin foi ty-feet, and extending back forty-five feet, and being situate on a certain lot in the said borough of Petersburg lately purchased by the Rev. James Steevens from a cer tain Valentine Wingert. And whereas it is alleged that the said sum still remains due and unpaid to the said Cunningham and Burchnell. Now we command you, that you make known to the said Rev. James Stevens, and to all such persons as may hold or occupy the said building, that they be and appear before the judges of our said court at a court of common pleas to be held at Huntingdon on the second Mon day of January next, for the said coma.' ty of Huntingdon, to shew if any thing they know or have to say, why the said sum of one thousand and ninety-six dol lars, should not be levied on the said buil ding to the use of the said Cunningham and Burchnell, according to the form and effect of the act of Assembly in such ca =es made and provided if to them it shall seem expedient, and have you then and here this writ. Witness the Honorable fhomas Burnside, Esq., President of our -old court at Huntingdon the nineteenth lay of NAvember, A. D. 1840. JAMES STEEL, Proty. Dec. 2.-4 t. THE JOURN IL. One country,one constitution ,one deeti Iluntmgdon, Dec. 23, 1 S4O Democratic COUNTY CONVENTION. The friends of GEN. HARRISON within the several townships and boroughs of Hun tingdon county are requested to meet at thei usual places of holding elections, on or be fore Saturday the 9th day of January next, and appoint two persons trom each town ship and borough in said county, to meet in convention at Huntingdon on Tuesday even ing the 12th of January, for the purpose of choosing two delegates to represent this county in the State Convention which will meet in Harrisburg on the 4th of March next, to nominate a candidate for Governor. BY THE COUNTY COMMITTEE, Home at last. After a long absence, much longer than we either wished or anticipated, we have arrived at home at last, and assumed our labors in the editorial chair. The cause of our absence most of our readers are aware of; and the cause of our detention, was beyond our control, —bad weather--disappointment—and the diffi culty attending transportation, were among the most prominent causes of our stay. We regret, not a little, that our tempo. rary absence, for a few weeks, should be the occasion for the wit, the jeers, and the malignancy of some, who should at least know enough to be cunning if not honest. We have not run away, nor are we to be got rid of in so easy a manner. Nothing except driving us off, can make us leave a county that each returning year tells u 5 contains so large a body of our blends. .Ve are back again ; and as willing, awl as able to enter the field, as we ever have been. "We have scotched the snake, not killed tt." We have much, very much that remains to be done, ere the people will find themselves :id of the curses of the corrupt administration of Loco Foco ism ; and we have returned, invigorated by relaxation, to mount again the watch tower, and send our warning voice, how ever feeble, among the honest and toiling sons of the hills and vallies of Hunting don county. We have returned, not only to watch the fully and corruption of our opponents, but to speak as freely, as boldly, and as fearlessly of the madness and folly of our own friends, who shall so far forget their professions of honesty, as to enter the f• field of our party's triumph, indulging in . the same sins which have been so manifest and so much censured ha opponents. We fear, and we think we have some cause to fear, that many of our friends look upon the triumph of truth over false hood and corruption, as the triumph of party. We say it is emphatically the tri umph of the people.—That people who have seen the powers of Goveratnent used solely for the success of party—regardless alike of justice or 'wegrity.—That peo ple who have seen the ermine rube soiled by the filth and mud of party strife. That 'people who have seen every official func tionary, from the resident of the White House, to his pettiest underling, using their power of place, to subjugate and op press, instead of relieving and benefitting them—and we have returned to say that we shall watch those who claim now to be the successful party, with the jealous eye that we have the others. Has the strife for office already commenced ? have those who wish—and some of whom per , haps deserve preferment—already enter• ' ed the arena as political gladiators, to hack and mar each other's character and t fame? If it be so, our fears are but too well founded. To the people, who have been victori ous, we have only to say, you have "done your own voting"—now do your own thinking, and our word for it, the day is not far distant that you will nut only take care of the Government, but you will make the Government take care of your inter est and welfare. But we have diverged from our subject,—we are home at last— and we have but to request a little pa tience, and our paper shall again be as regular as usual—and we will humbly try to do our duty, "without fear, fervor, o n .kffrction." 1 Congress Is now in session. As may be imagin ed, it is a chilly business for the poor Lu.• co Focus to meet there, as one might say . at the funeral of all their hopes. Mr. Van Buren and his party have been signally r.- buked by an injured and indignant peo ple, for their recklessness, we might al most say, infamous course. Still„even, in this very Congress, they contend that the people did riot disapprove of their ,measures—the ISub-treasury Standing Army, &c. Oh! no, say they, it was the Coon Skins, the Log Cabins, and the Hard Cider, which deluded the people. How very complimentary to the honest yeomanry of our Republic I—shame on the heartless traitors to a confiding people. It is openly contended in Congress that these questions were not placed before the people. Now we unhesitatingly say, that there is not one homiest man of either party in Huntingdon county who will nut say, that at every public meeting these '• very measures we used as the principle reasons why the administration should be Changed Thank Prvvidence, the people knew what they did want, and in a voice too plain to tie ►misunderstood, declared their wishes; and proved that "public opinion is the unfailing corrective of all aluses in a free government." We will endeavor to keep our readers acquainted with the doings of the present Congress, that in, if they do anything. We learn thitt they have already agreed Ito pay the New Jersey members for their time spent in„Washington, although they gave their seats to the Usurpers. We insert this weck, a part of the Pres ident's message. It is a document of very little interest, and characterised by noth ing, but the fully of adhering to the Sub. treasuiy--and a Quixotic tilt at the ghost of the united States llank. There are, perha;:s, one or two other things which we may notice hereafter. • Rumor says that the honest portion of the Loco Foco 's are endeavoring to run off 'their own Iron Grey," and make him give place to some one that they can trust. some of them in this vicinity speak out very boldly, and say that honest Davy It. must make up his mind to take a back seat. It is all one to us for we think that the people have made up their minds to attend to their affairs themselves and of course will not sustain the best men in the ranks of Loco Focoism for any office of trust. But who cares about their family quarrels ? Let them flight it out; like the fight between the pole eat and badger we don't care which gets beat. The Resumption The 15th of January is the day fixed by law fur the banks to resume. When we !elt the city on Tuesday of last week, the impression was general, that the banks would be ready to comply with the re quirements of the law, although some knowing ones seemed to be disposed to doubt. So far as our opinion is good for any thing, we think that they will resume ou that (lay; but we are equally well satisfi ed that the resumption will not relieves the money market. In the city, the banks have nearly all of them called in most of their circulation. While in the city, wit did not see a note on any city bank in circulation escept of the tr. S. Bank. If then they ha no notes in circulation, resumption in name will be easy. But it will be very difficult for the people to ob. tain the specie out of their vaults, unless they have some of their paper. Philadelphia is literally filled with small notes of other States; and where the people are to find a circulating medium to supply their place, is more than we can at present see. If our banks resume, these small issues will be victimised by the. brokers, by taking oWthe biggist kind of shaving, and then pay for them in $5 (notes of country banks; at least such is our opinion. OBITUARY RECORD "In the midst of lye we are in death." DIED —On Monday evening the 21st inst., Mrs. ELIZARETH consort of Ulrich FRIDLEY, late of Franklin county. aged 65 years. Temperance Meeting. A Temperance Meeting will be held in the Presbyterian Church, on Friday eve ning next, at early candle light. All per sons friendly to the cause will please at tend. Several addresses are confidently expected.
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