Indiana State Sentinel, Volume 3, Number 67, Indianapolis, Marion County, 11 January 1848 — Page 2

Jiräiaua State Sentinel. r. r c h m m. vtiiiLA.Ncr. is the raicc mk lidfrty.

JJ-- II'OLIS, JAM iKY 11, 1H4H. Governor's Liessage. Gentlemen of the Striate and of the JJoute of Representativet : Hiring con v med for the ptifwrnance nf the important dutiei Committed tu tour charge, by the people of the State, it becomes my duty a duty which it n regretted 1 wa piemted fium peiformmj pievius to your late adjournment by Mfere bodily injury, the result .f a lecent accident to communicate to you the condition of the common wealth, and o uggeit uch mcaurei a my eem to be demanded for the preservation and inciease of the public welfare. In Join o,it atTaid me a heartfelt fleasuie to congratulate you upon the geneil prosperity which hat prevailed within our toideri during tne pat year. We hive rnj tyed the blosingi of health in an unusual degree, the upiemtcy of the laws has been maintained, and the hbor of the husbandman ha been bountifully tewaided by luxuriant crops, which he ha bien enabled to dispoe of at hbeial piici-i, thu giving a ienewed impuNe to Luine- of evrry devciiption. Kvidences of gieat imptovement in the condition of the pecple are every where tUiMe. Our fiiie and town aie steadily increasing in wealth and population, anu the primeval (oteMi which till cover a large noil Ion ot the countiy are rapidly disappearing, n give place tu the licti pioductt which are drawn by the hand of industry fiom a itrtmnus and feitile foil. . Ir lhe, and the numbeile other advantage we enjoy we owe unbounded gratitude t 0 df in wlioe hand ate the dftinin of rjiti.ui, w ho hai placed ui in a Ian I of religion, libtity and plenty thut enabling us to advance our mial and ocial conditi 'ii, and to acquire that political and physical indrpen dmcr, fiom which o latgf a poip.ni ion of the human family I c1e'j.ir(l. It becomes U4, theiefoie, to acknowledge Hi go:ois wi h p.ii4.e leveience. and tu invoke a ronlinu anre if III- b!eng upon our hrl.ivel country and upon our iiroit to dcctige with tidrlity the tiut which have been commi lid to u. The inciraed pio.pen'y of the coun try, I cmnt but think, is, nn.ter Divine 'rvi!ence, in rl nu auic to be ut'ilbnted to a wi- chmge hi the policy of the gr ue i a I guveinmeiit the Ui.i n, with icgarl to iui Cummeice with furcigu nainm. The up-al of the huh tantf of 134., and In adoption of a nioie liberal -ytt in ol duties by the act of 1840', ha i.t only had the uVcl of producing an incie4f of ie nue to the national tictMiiy, but an incre'4e of piotju ti the agi icuhuii!. Tliich'S of mil ff I -I w citizrn,coutitu ing the main fuund ition of our national wealth 4i. d pio-peiity, has, by me in of di ninihrd dntieoii Cimmnte at home and abioad.been enijled 'o lind a nuiket f"t a gieatet p opvitio n of thcii nuiplu ptodmts than they Couiu uutuwhr hate utpiel ol lo aiivant-g.'. lAltkng every allwiicF foi any intluence on puces which may have let li pioduci-d by a r.ioii of nnunl caicit in Kniope Yetwhrn w ci nil-i that how gnat ever in iy te Hit nee i:y of lh people of oilier c -untiie-, their ability U pur he 'on fiom u i limred I y their ability t pay foi it by Ihe pio.tuce vt their own labor, ii is evidet.t ih every itsliic iuii hich prevent us fiom teri ivmg surh pioduce in letiiin, miit ieduce lUv quntiti or V4lue ol that ltict tht-y receive tr.in in. Happily foi all iiaitie. for the ovrr-oio-ducer of our own countiy, u well as the Moving consumer abioad upon the occm letice of a general failine of the ciot. in Kuioje in t S 46, the lestticti ms, which had faimeily exitea wrie in a gu at me iure removed, and we were pie pated to reap the full benefit of the increased demand thus created. It u to be icmaiked, also, thai while t!ioe cu gaged in the cultivatn n of our sott have been s gieitly DenetitteJ by the opening of a foieign maiket. the mjuu fac toring and commeicial classes haveenjiyed at leat tlieir lull bare of the common properity. '1 he gresl incuase of minufaetjue, and of manfactuii g and commerciil capital. since the paage of the compaiauveiy bw tantf of 1S4Ö, proves that these mteiesis aie in a rnit flouiihing condi tin. In fact, the agricultural in'eiet so grently rredomi mte in thi country, that most others ate in a gieit degree dependent upon it, and tnut, to jorne extent, ll )Uiih or languish a Ibat became prosperous or deoiesed. Indima i especially an agncultuial State, and it i of the utmot im portance to our citizens that the ound and enlightened i'licv f low duties or a revenue taritf of lriing off all itstiictions upon trade not lequiied by the wants of the public treasury, economically administered, hould ctntinue to be maiotaif ed. Many of our fellow citizens who entertained senous apprehensions that the establishment of this policy woulu be f. aught wiih great evil, if not wuh rum to most of our Uaiin in teilst, aie doubtless gratified to find at length that their apiehcn! jns were not only wrihuiii foun datiou, but that the veiy ievere i true. It afford me still greater pleasuie to be able to le-naik that the ireent in create of piupertty appears to be founded, at lent to a far gieiier extent than heietofoie, upon a solid and substantial basis. It was not brought about as meiely by a wild and extravagant spirit of speculation, nor by a similar expaniou of the currency, but mamly by the gradual und wholesome operations of a profitable tiaJe, criür.ed within its legitimate channel. There i now no gieat banking institution under national authority, oveishadowing all the other rnonetaiy in stitutions of the country, capable of wielding an almost trie sistible political power, and able, by means of a vat capital and the control cf the oatiunal tieasury itself, tu contract or expand the amount of currency in ciiculation throughout the entire countr), aod consequently tj cause the prices ot every kind of property lo lise or fall, as it might supply or wiihdiaw the means of payment. Since the existence ot the last institution of the kind in the Cutted States, more than ten years have elapsed, and more thin rix since its gigantic substitute unier the same name, created by the legis lature of anter Mate, ceased it operations as a bank of ciiculation. The whole country, since their extinction, Ins been steadily advancing fiom adversiiy to prosj etity, and tur subsequent expeiiece has, it is believed, been long enough lo ettle the so much agitated question, how far such in institution is necessary to the trade, the productiveness the enterprise, or the genera welfate of the country. The constitutional treasury by which tho collection and disbursement of the national revenue are entirely disconnected from banking operations, has been in full operation more than twelve month. Vet the in- . Conveniences which many no doubt, honestly apprehended from the absence of a National Ihnk, and the establishment of an independent treasury, have not been experienced. On the contrary, during the time which has elapsed since its establishment, the largely increased disbursments rendered necesary by thoexiating war, have been made through its aencv, at various and distant points without loss, andvith the requisite ease and prurnptitude. A far greater amount of gold and silver is infused into all the the channels of our circulation, than at any former period of the history of our country. Exchanges upon all points are uniform, cheap and reidily to be obtained, and in these respects they favorably contrast it is believed, with the of any time during thes.ay of a iluik f the United estates. They are not based upon fictitious movements of Bank credit, but upon the true and only tound principle upon which they can be well regulated, namely, upon actual business transactions be tween different sections of the country. When it is, considered that during the experimental operation of I these leading measures of national policy, it has been their lot to encouuter the adverse intluences of a freigu war, which cannot fail more or less to affect the trade, and resources of a country, their intrinsic merits and the wisdom of their adoption mut be fitill more manifest. In tine, every thiny indicates that the present appearance of financiul improvement throughout the country, is no illusion, and that a fair promise is afforded, of its bcinr substantial and permanent. Nevertheless it fhould be remembered that wren the tide of prosperity is swelling to its greatest height there is ths greatest need of caution. The irrepressible energy and love of cnterprize of the American people, are apt to induce them, when fired with euccess, to overleap the bounds of prudence and fall Jim c.Mftf uiiu ruinous speculation;, lhe sure and the only pure remedy against this threatening evil, is the observance ot economy and industry, and above all, to resist the allurements of credit. Occasion was taken in former communications to express my serious convictions that the observance of this caution is essential to the continuance of our welfare and prosperity. Impelled by a filial regard for the State. which is the seat of my home and of my attachments. and which has laid rne under deep and renewed obli gations, I cannot omit, in this crisis of our affairs to once more caution my fellow citizens against a prac tice, which experience has proven to be fraught with ruin. It is earnestly to be hoped that while thev in dustriously and vigorously improve the advantages that are now within their reach, they will be suffi ciently careful to avoid the evils into which they have fallen from tins cause on torrner occasions. The pre sent war with Mexico is deeply to be regretted, iuas much as the consequences of a resort to arms, are at all times seriously to be deplored, and more especially by a people blessed with a government and institutions like ours. Nevertheless the Congress of the United States, vested by the constitution with the appropriate power having declared, by a vote nearly approaching unanimity, that war exists, and by the act of Mexico, it becomes us as American citizens, to uphold the rights, the honor, and the Jawj of our comnon coun try, at all hazards and in every emergency. The his tory of our race has but too lamentably proved, tha how great soever may be its desire, peace is not in the power of any nation. Unless the pacific spirit and policy of one power is met by a corresponding spirit on the part of others, the questions in dispute is Jell in tne last resort to the arbitrament or the sword. Few instances, it is believed, are to be found on the page of history, of a war, more justifiable by the laics of nations so far as the United States are concerned, than that in which they are now engaged with Mexico. Passing by a long series of aggressions, running back into the year 1321, hieh was the first of her asserted independence, against the persons and property of our citzens, for which reparation was promised by its accredited agents, only to be followed by disappointment, passing by the patience and long

I rfforing "f our mv;i vor:iTT-!;it , truW tin

Si administrations .Mexico nl h: bi-imghl i.u the war, by striking the first blow, nnd eht'ddutg the rirt biood. Nor can it bo successfully maintained, that the advance of our troops beyond the Nueceo, was the real cau-e of the war, when it is considered that long before that advunce, .Mexico had distinctly mid repeatedly taken the ground through her minister at Washington, her government at home and her generals in the t;eld, that the annexation of Texas was the true cause and origin ot the war which lias ensued. lief .i i e .. ji- ' :'u' uufimco til our irouns iuo, ii was repenieuiy formally published by different coiiimnndra of the and formally published by .Mexican urmien, that their object nnd inisioii, was to conquer and wrest from our posaeMion, one of Him state of this Union, tute which hud been niado such, with the due solemnities of law, and thut loo, from territory acquired beloro the present administration of our government came intq power. This war then, it if true, was a war of conquent, but it was so on tho part of Mexico. Such certainly it the fuct, if any ftitlr is to bn placed in lhe oleum declaration of n nation, niadtt through its authorized functionaries, and followed up by corresponding nction. It is demoustrahle then, th.it the war was brought about by the uiijuNliiiublrt acts und Aggressions of th Mexican government; for it is ii m timed as a proposition that is iiicontrovertihl!, thit whatever ditlerenceii of opinion may have exiated in our own country as to the mere policy or expediency of the luquiaitioii of Tex in o far as the United State were ronrenifd, yet that .Mexico hud no reason to complain ot that meumire. That territory was nt the time., both by right and in fact, a independent of the control ot Mexico, a waa Mexico hernelf ol'tho crown of Spain, againut which ahn had alo previouidy rebelled, nod it wa no recognized by iliei pnneiiml nation of the civilized world. Under lheMi cir umalances, to bavu been deterred from doim; an art not improper in 1 1 e I f, clearly juKtitied hy the law of nation, nnd called lor by thn uri.itiimoiis voicm of Ihn interewted, by the threats id a party, who w;i not entitled to intefere, would huvu invited further aiefHioii from thn im quarter, and lowered the eh irar ter id our country in the eiitn.ilMii ol all other natioiH. I.i ihn progre of thn war lion loreed upon u, far Iroin being netualcd by a mere spirit of onqiiet or of ra'in, th olive-hrHiirh lias ! n uniformly hnrnn in advance, and Ihn cruelty and faithlenineiH of uti immlinus foe, have heeii met on the part of our troops eneially, with n forbearance, a kindm-mt und a magnanimity rarely equalled. We h ive deired only to niihhmi t Iih u.itionnl dignity nnd honor, and to tecum sqi'h results as would afford sotrirt guaranty lor thn peaceful roudurt of an aimgaut and laitliles racn for the. future, nnd a full and just indemnity for tint past. Being engaged in (Iih war, burn nity itself would seem to require ii-energetic prosecution, as well for the purposH of saving the ell'union of blood by bringing it to n speedy close, a to insptra that ami other powers with such a respect (or our prowess m will, for a long period, it is hoped, stive ua from the necessity of again having recouiae Inarms. Tint the indemnity to which we are entitled, ulnuiM consist of territory, is manifest in view of the crippled resources and exhausted revenues of Mexico, the instability of her government, the revolutionary character of her people, her fickleness in relation to her past moneyed arrangements, ns well as from her immense nominal possession, which lie conterminous with our western boundaries, which to a great extent, are unreclaimed from the hand of nature and uninhabited, and which, in the hands of the present possessors are likely to remain so for nti indefinite period. And while such nn indemnity will it is believed best comport with th interests und ability of Mexico, it is the most desirable for the United Statt. Our numbers, which increase at a rate to which the history of the world scarcely affords a parallel, and the unequalled enterprise and industry of our people, will soon require additional lands for thir accommodation. The citizens of this Stale have not only responded to every call that has been made upon them by the general government for aid and assistance, but they have tendered the services of many additional companies, which could not be accepted. The three regiments of volunteers which were raised during the year 1S4G, have returned home with honor, after having seen much arduous service. Owing to some misapprehensions or misrepresentations of the facts, much injustice was done to one of those regiments in the accounts which were first published of the brilliant victory of Buena Vista. Since then, however, public opinion has been set rilit upon that point, and it is now universally acknowledged that no troops upon the field contributed more bravely and effectively in deciding the fate of the day against greatly superior numbers, than the two regiments of volunteers from this State whieii had the good fortune to be present Besides several cotnpan.es of regulars chietlv raised in this State during the two last years, two other regiments of volunteers have, in the last summer and autumn, departed for the field of action, the details as to which are contained in the accompanying report ot the .Adjutant General. I cannot too strongly re commend to your attention the careful preservation of the rights and privileges of the brave men who are thus absent in the service of their country. In every constitutional measure, having for its object such protection or extension of their political or personal rights as the circumstances may seern to demand, or to evince the gratitude so justly due them from the State for their services and sacrifices, I asure you of my thorough cooperation. The ordinary expenses of the State Government for the fiscal year ending on the I31st day of October last, were $ü0.7ß'J 07. The ordinary expenses for the year 1313, are estimated by the Auditor in his report at the present session, at 71,900. The number of polls returned for 1317,(estimating for the counties of Cass, Crawford, Jefferson, Lake, Pulaski and Wells, from which returns have not been received, as being only the same as last year,) are PJ9.BÖ7, being an increase of 2,70'J over that of the preceding yar. The value of the entire taxable property returned for 1317, (estimating in like manner for tire same counties.) is j$PJ4,.j3,000, leaving an increase of j$ 1, 93,000, over that of last year. Tne amount of revenue paid into the State treasury during the last lineal year, including some previous nrreiraes, is $302,3 17,07, being 03,430,07 more than was paid in during the previous fiscal year. The assessment fr 1347 is, for State purposes 150,074,77, and for county, township, road and school purp)ses collectively $50,071.20. Add to these sums the delinquencies of former years 127,2T)3,47, and the total amount of the duplicates for 1347, is 81,100,004,44. A slight examination of our present revenue system will be sufficient to demonstrate its great susceptibility of improvement. Under its workings, it is quite manifest that a large amount of the invisible wealth of the community, such us corporation and other stock, cash on hand or at interest, und the more portable and valuable kinds of personal property, .tc. is not found on the assessment roll?. Tins description of taxables is generally owned by those who are the best abl- to pay, and their non-assessment leaves the burden of taxation so much the heavier on property which is visible, and especially on buds, which cannol escape notice and scrutiny, and which the true policy of our State requires, should not be visited with disfavor. The assessment sheets of 1347 as compared with those of 1340, show a decrease on personal property, in some counties, to the amount of 20,000, in one county to $10,000, in another to $-30,000 and in another to $75,000. The Auditor of State has presented some further facts and reflections, in relation to the present mode of assessments, at the close of his report made at the present session, to which your attention is invited. Although careful and elaborate legislation is probably necessary to make the system such as it ought to be, yet it is believed that very little labor will be found sufficient to remove its most glaring evils, and the subject is recommended toyour early consideration. By an act of Congress to establish a uniform time for holding elections for electors f President and Vice President in all the States of the Union, approved January 23, 1345, it is provided that the electors hall be appointed in each State on the Tuesday next after the first Monday in the month of November of the year in which they are to be appointed. As the day for holding such election heretofore, in this State, has been on lhe first Monday in Nov. of such year, and as by the existing State law?, the returns of the same from the several townships are required to be delivered to the proper Clerk of the Ciicuit Court on the following Wednesday, the postponement of the lime of delivery of such returns until the Thursday after the election, is respectfully recommended, in order that the same time may be afforded fur maturing the returns under the present, as was allowed under the former law. By the present law, too, the Governor is required to transmit lo the electors, certificates of their election, by the hands of the marshal, or of special messengers. Prom motives of economy, it is presumed, that the Marshals will always be employed in the transmission, unless in eise of emergency. If they are so employed, it is desirable that the Legislature should settle the mooted question, whether they shall receive any compensation for that service in addition to that which the present law gives them for travelling and returning, over nearly or quite the same ground, in making their returns to the Secretary uf State. And if it should become necessary to employ one or more special messengers, for the performance oftbat lervice, some

1 provision s!i,.u!(a!...b.!rriHd..!yl.iw,ettlinü the amount ' u...: . ..... .,. ..f ilirYi.M. I. million.

Ü lelcieuce io tiie .iud.tuis report, it aiitars that ' . the "principal of the late suspended debt of Indiana, now amounts for rather at the t i.muiencemc .ut of the operations under its lale arrangement it did amount) to C11 (itlT) 1:0.1. in the? shnne of outntandiiiff bonds, On this amount, no interet had been paid, until that arrangement, since in the year 111, when the credit of the Slate wn prostrated. The amount of the nn-; !eal interest on that J tt. is over half a million of dollars, f &.Y4.77li.l navable yahle half yearly. Tins debt, . i. ' ' ' . .. ,i ! lgc in itself, was therefore increasing at a rapid and , j tearful rate, und m view ot-that onü oi nur limited i rt'tntirrf inanv uf Mir best eil if ens involved ill depair, and anxious to leave their propeity uniiicumber- . , j . : ed to their children, were sacrificing their homes for j far less than their value, and leaving the State. The 1 same causes were preventing men of capital and industry from coming among us to purchase properly, . .. I.i All. improve the country, and add to our wealth. All this, it is evident, had a tendency to increase the gloom and despondency lint pervaded our business affairs generally, and to diminish the ability of the people (the great mass of whom were also involved in debt) to meet their individual engagements. Add to t h-t; considerations the example already et by other indebted States in resuming payment of their oblijjatiorm, and it is not surprising that a general anxiety fhould have existed in Indiana, that it character, if possible, should also b vindicated. The great obstacle that presented itself to h desirable a result wan tin? great disparity between the amount of the debt and lb ability of the State for its discharge by means of taxation. it whs under this conviction, generally, if not universally entertained, that I favored the principle of disposing of the profits of the Wabash and Kne canal lit satisfaction of so large a portion of the deb:, a to leave the balance within the ability of 1 1 State to pay from the treasury, as the only practicable means lett the Sate whereby to avoid the evils enumerated, and to wipe off the reprouch of repudiation ; nnd I earnestly lecomtuemled that the proposition ehould be respectfully considered, in the hope that it might eventuate in an arrangement honorable to the Suite i and satisfactory to its creditors. The result was the passage at the same session of the bill, which ie ceived my approval on the 11); Ii of January, ltilG, to provide tor the funded debt of the Slate, and tor tin completion of the Wabash and Kne canal to Lvnuv Vllle. Karly in the following July, a letter was addressed to my department on tne part of tho committee of bondholder, (under whose authority the proposition had been made, which had resulted in the passage of the bill referred tu,) euchring resolutions adopted by the committee, in which tin opinion was expressed favorable to the principle of that bill, namely, 'lhe payment of one half of the principal and interest by taxation, and the other h; If by the property and tolls of the canal, from th" Slate line adjoining Ohio to Kvansville; such property to be assigned to three trustees, and the State to b; freed from responsibility on that portion of the debt und nterest so to be secured." In my next annual message, that of last session, in communicating the fact that the principle of the arrangement offered by the bill, had received the assent of the committee, occasion was taken to state thut within the. sphere of my own observation, and so far as my information extended, the expression of the great majority of our own citizens was also decidedly in its favor. It was further stated that the bondholders desired some modification of the bill by the legislature, which I was informed would not conflict with the principhs of the bill, and yet were deemed essential for carrying into full effect its fair and obvious intent, and that any such modifications if they added nothing to the burdens of the people, would, it was believed, be responsive to their will, and, it was also trusted, would receive the favorable action of the Legislature. The action on the proposed modifications resulted in the passage of the supplementary bill, which received my approval January 'J7, 1 17. 15oth of these bills contemplated that on the surrender of any of the State bonds, they should be cancelled, and new certificates issued to the holders in lieu of them, and that only one-half of the inttrest due on them which is fixed at the uniform rate of five percent, per annum, should Ik' paid from the trea- ! pury, and the other half exclusively from the profits of j the canal. Both of the bills also contemplated that the I bondholders who should come into the arrangement, ! should finish the canal to Kvausville.at their own expense, ! aided bv the proceeds of the lands, &c, which were I granted to the State for that purpose, and they were, to ! ok to the profits of the canal alone, to repay them the costs of its construction and management. Put while the original bill gave the State the option of afhrirarJ throwing one half of the jmnclpal also, upon the canal for payments, in the supplementary bill, (and ; consequently by the law as it now stands) that object is j at once effected hy one half of the surrendered debt, both j principal and interest resting exclusively upon the canal for payment, the State being released from all further re sponsibility in relation to it. The great and leading principle therefore of the first bill, namely the satisfying of one half of the surrendered uebt'froni the canal, remains unchanged, nor does the supplementary bill involve the State any further in debt. The main difference between the bills. consists in the latter giving to the bondholders who I should finish the canal, a priority in tlie payment of j their claims and expenses about its construction, out j of the tolls and profits, over, those who would not i join in its construction. The latter class however, by j surrendering their bonds, would still have the interest I on one half of their debt (equal to two and a half per I cent on the whole) satisfied from the treasury, as in ! the case of the others, and they would also be paid in j whole or in part the interest on the other half, from : the profits of the can il if any remained, after paying ! tho,? entitled to a orioritv. as before stated. Even if j ---- - r---rf-i they received nothing from the canal therefore, the amount of the interest paid to them by tlieir acceuinir to the present arrangement would be only one sixth le-s, than they would have received under the rival plan introduced into the legislature, which proposed to rive but three of the five per cent which their bonds called for. By the rival plan too, the canal would not have been finished, as the credit of the State was broken down, and she could hardly have been expected to construct it, with only the lands granted by Congress for that purpose. This muuificent grant then, amounting to about 300,000 acres of laud, would in that case by the terms of the "rant, have reverted to the United states, and thus have been forever ht to Indiana. By the supplementary bill, ull bondholders are allowed to subscribe towards the completion of the caeal until to as late a period as the first of November last, and to surrender their bonds at any time before the first of the following month. It was also provider! that unless the subscription towards the canal was made, and bonds to the amount of $1,000,000 prin- ) cipal surrendered by the times limited in the bill for those purposes respectively, the arrangements should cease and be void. Apprehens.ons wer expressed on tLe part of some opposed to the measure, that a comparatively few wealthy persons controlling bonds to that (or a little larger) amount, would get possession of the canal, to the exclusion of the residue of the bondholders, who on account of their supposed poverty, would be unable to pay their quota towards completing it, and by reason of the priorities already spoken of be excluded from any share in the profits. The objection waa not that the hill of last session imposed any greater burdens upon the people of the State than did the bill of the previous session, (for there was no pretext for that.) but that one part of our creditors would be benefitted by it more than the others, and that a large portion of them being unible tu come into the arrangement, their claims would thus be virtually repudiated. The fear indeed was expressed by some, that but one half of our debt would be brought in (being $5,545,000 of principal, with the interest) tint amount being necessary, before the deed of trust for the canal, and its appurtenances, should be finally executed. The right to priority of payment, however, seems in practice to have produced an effect precisely the reverse of that apprehended by some, namely, the rapid surrender of a heavy amount of bonds, in the hope of benefitting by the priority ; while as to the first bill, which did not contain the clause in question, not a bondholder would accept of its provisions. It is now cause of congratulation with all to fiua that at our last advices more than $9,000,000 of bonds, exclusive of interest, had already been cancelled under the arrangement. I was also informed at the commencement of the present session, by the trustee residing at New York, that when he left that city, he had information that the surrender to the amount of about half a million more was shortly expected, and hopes are entertained that the bulk of the remainder will finally come into the measure. Having been satisfied that the requisite number f f bonds had been surrendered to the Agent of State for exchange and cancellation, and that the proper amount had been paid oyer towardi the construction of the canal, the deed of con-

veynnce bearing dit- the Mst da of July ht wis 1 . 1 1 v ..vi ei;Ud to tho ti u-Ue-., n- t iiiuivd lv U;h

ht.cuon ol the biimueiueaiary uin, aim c ii'equeu.iy - . . . i n . l .!.. tie original bill, as modified by thut, is in lull forte and operation. Whatever differences of opinion may have existed heretofore in relation to this measure, it , i. .-onfidt ntlv hoped, that now, as the law of the land, Ul,d closely connected as it is with the character and prosperity of the Stale and of its citizens, it will receive, as in my judgment it justly merits, the support !cfu, und that nothing will be done or omitted, which may bo calculated in the least to violate good n, ., , ' faltj, or to impair the ellieioncy of the arrangement, ... . ... . . . . . ..... . i. ... . The first halt yearly interest requireu uy tue iaw wu nromnt v naid on the first Gay ot July last, and atthough it was found necessary for the legislature at i the present session to authorise a loan of the amount 1 of the interest due on the first day of January, yet that was not because the present rate of taxation is not sufficient lo comply with the new arrangement,

(for it is deemed amply suthcient) but because the re- csiaoiisiiuietits. venue is not required by the existing law to be paid ' The facts and suggestions contained in tho nccominto the treasury until the 4th Monday of Februar), :Piiyiiig report of the Visitor of the State Prison, and hence it became necessary to merely anticipate J will commend themselves to your consideration.

the revenue by the loan in question. .Mnce its preparation, it has been gratifying to learn It is respectfully recommended to your early cmwi- , that the convicts hive been removed to tho New Priderat ion, to adopt soiiiw permanent measure for pre- j hii, which will operate much to the advantage of

venting any such temporary embarrassment in future. I The final arrangement of mir public debt cannot I fail to exercise a favorable influence upon the proiwty, the morals and the character f the Sinte, und is cause of heartfelt Congratulation to ull. We have sutl'ered much through ptnt improvidence, may wo ne- j ver neglect the lessons it has tnu-'ht us. Lei no debt be incurred hereafter, unless in case of the most imperative necessity, und not then except provision be at tin' same time be made to pay the interest, and for the final extinguishment of the principal, l'ew will be foi. nd, hardy enough t' advocate another general system of improvements. J,it die danger lies in commencing one by degrees. If a favor is granted to one section of the State it gives rise to demands from another, and finally there is imminent danger ot irresiidible combinations of interests for the prosecution of a number of works, neither of which could find favor alone. As a general rule, such works are far better left to individual enterprise, under the great law of supply and demand. Already we have a large amount of capital in the country, with the prospect of its progressive increase. The inducements for its investment in works of this character, are very great, and the only apprehension that now need be tell is, that sufficient care will not Iw taken in the chartering ot companies for their construction, to protect the rights of the public. If Cap.talists would not be justified in risking their means m the Constructii n of a particular work or works, the State now j st emerging from insolvency, should not te required to do so. The level surface and feitile soil of "Indiana, oiler great inducements for the constructions of rail roads, with a view to profit, and the most profitable because the most reeled will Im first undertaken. When constructed by private or associated means, there is less extravagance, and less danger of the faithlessness of agents, than if they are constructed by the State. In d.stmssing this topic, 1 bog once more to recommend the most rigid economy, now rendered, if possi ble, more desirable than ever. Our faith is restored, atid it must be preserved. Let the resolve of every heart be that it shall be preserved. Occasions frequently arise for making requisitions upon the Executives, of other Slates and Territories, for fugitives from justice of this Slate, and provision is made by the existing law, that all e.xpences incurred in their recapture "if the Governor shall allow the same, shall be paid out of the moneys appropriated by the general assembly, for such purposes." As no such appropriation has ever been made, the law has remained a dead letter, and the custom. Ins been to make the required allowances, in the specific appropriation bills. By this omission, not only has there been a delay of payments for the serv ices and expellees of the agent, but in the absence of correct information, the treasury is exposed to the danger of exorbitant claims. A standing appropriation of a small amount, would be sufficient for tins purpose, and the adoption of a rule, requiring a satisfactory verification of all claims for such services and expences before the same shall be allowed, will serve the cause alike of justice and economy. The views and recommendations contained in the accompaying report of the .Adjutant General, will doubtless receive at your hands, that attention and consideration, to wi.ich they are entitled. The commendation bestowed upon this officer in my last annual Message, in relation to the discharge of his duties du ring that year, has been fully merited by the zeal, fidelity and promptitude, with which he has performed those of the present year, varied and laborious as they

have been. The nature, extent nnd value of these j voier may nave an opportunity o, .uy uuuersiauuniKer.ices, can better be ascertained from the report j its provisions, betortie is required to pass upon it at

itself, ami I snirtiest the iustice and propriety of making him an additional compensation for the same. It will be seen from the report of the Quarter Master General, also submitted, that that officer, has been cnira:ed, since your last session with characteristic energy and faithfulness, in the collection and repair of the public nriib, which had been lost arid scattered in various parts of the State, besides attendingto their reception, preservation and distribution. The increase in his correspondence, and in the regular duties of his office, also merit, in my judgment, further compensation. Occasion has been repeatedly taken in my former messages, to allude to the great amount of our local or special legislation, the danger of injustice by its means, to individual interests, its expense to the treasury, und the large portion of time it necessarily occupies, Jo the detriment of that mature and thorough con ideration which is due to subjects of a general character. It was also recommended that the necessary powers should by genertl laws be conferred upon other and more appropriate tribunals, to afford the necessary relief, sought by means of private acts. The subject has been deemed of so grave importance that the constitution of New York, as lately amended, has a provision against this evil engrafted in it. I was therefore much gratified to find the attempt to obviate it in part, by the passage, at the last session, of the act to authorize the formation of voluntary associations, approved January J7, 1S17. It is hoped that no bill will now be introduced into the legislature for an object, the accomplishment of which can be secured under that act. It is not intended to say that the act is not susceptible of amendment; on the contrary it is believed it might be made to have a wider scope with advantage. But that or any other defect can be easily remedied. It is earnestly recommended that, as far as practicable, the residue of the broad field of private legislation be occupied by a few general laws. Permit me also, again to call to your favorable attention, the subject of giving justices of the peace exclusive jurisdiction of divers triviul offences now punished by indictment in the circuit courts, at great expense to the country, and operating, by mehns of costs, and loss of time, as a disproportionate punishment to the individual. I also commend to your favorable regard the policy of establishing houses of Refuge, in districts embracing a sufficient number of counties, for the purpose, of the punishment and moral discipline of female nnd juvinile delinquents; where they will be beyond the contagion of confirmed vice and hoary crime. JMy reasons in favor of these measures are given to some extentin my last two annual messages, to which you are respectfully referred. The steady and successful progress made on the part of our benevolent institutions, as will more fully appear from the annual reports in relation to them, is a subject of just congratulation. The Asylum for the Deaf and Dumb was commenced as a State Institution, as late as the 1st of October, 1941, (although it had existed as a private school, with a few pupils, for about ouo year previously,) and it already numbers 60 pupils. This is understood to be a much larger number than is found in the institution of any other State, in proportion to population, although several of them have been established for more than a quarter of a century. TLi Institut fp tltt A iin t rt r.f llirt l-Hiiti! ntin menced its operations only on the lt of October last, with 9 pupils, which are now increased to 23, and several others are soon expected. The erection of suitable buildings for each of these l i iiinui iwi vnv, viuuiioii liunuf vi'iii-in-t.tution-. on the. pliirihle rotes al read v nnrrh.i serf for that purpose, is much needed. The financial con dition of the State requires, that while they should be comfortable, commodious and permanent, and so constructed as to be susceptible of such additions us may be required hereafter by an increase of pupils without marring the general design nnd appearance, yet they should be- in a stylo of simple elegance with"

,v .f wre a . . .... u ,s giu.ui.g Jo Warn tnat t..e !iu -p.!ait..r ti.e insane will probably be s far constructed by the 1st of July next, as to be ready for the retention of a few patients at that lime, and that the work will rapidly advance to entire completion It cannot doubt that each of these institutions will continue to receive, at your bands, that aid and patronage to which they are so well entitled. The people of Indiana deserve ureat credit, and I. ..'III i.i " . nicy win countless receive the prayer and tearful h,,a., f.. c .i . hanks ot inmy o these unfortunate, tor the cheer C. .i. ...i : .1 .i ... i . ' which iney nave paid a specific tax, in a .um; or great adversity, for the rstablushrneiit and support of these benevolent iiisutututions ; and, it is hoped, it will not be forgotten bv thoxe concerned, 'S. 'hat the best return that can b made in behalf of tin the inmates for this kindness, will be a strict economy ftld fidelity in the expenses and management of the weir i-eaitn ami romturi. it win on seen that two ot the convicts are represented as insane. In this connection, and in view of the expected early completion of the Hospital, 1 Peg to call your attention to the importance of providing by law, that whenever a person is n-quitted of'ciiincon the ground M'i insnniiy ami no is lotinu ny tne jury yet to ie insane, or whenever a convict pocoimcs insane while in the Slate Prison, he hhall forthwith be placed in the llo-pitnl. The former should not be so tiered to go nt large, nt the peril of life and property in the community, the latter is not a propiv Mihject of punishment, and both require that moral discipline nnd medical treatment, which would be found in the Hospital, and which recent experiments have proved so frequently effective fi r the restoration of reason. It is upon the intelligence nnd virtue of its citizens, the Slate innM chiefly depend for their social elevation and happiness, fur their just and equal partici pation in the advantages of an enlightened freedom, for tho perpetuity of our unrivalled institutions in their original purity and republican simplicity, and i'or that progressive reformation of abuses, and that political amelioration, which are the results of independent thought und free enquiry. I am therefore much gratified to perceive the increased interest which has latterly been manifested by the people of this State in relation to the important subjec; of education. Our higher institutions for tho instruction of youth in literature nnd science, are a source of just p'ide and id great usefulness to the Slate, and it is gratifying lo believe that they have never been in u more flourishing condition than at present. In relation to the far more importnnt subject of j common t-chool education, it is much to be regretted i that at present, when the faith and credit of tin Slate are in process of resuscitation, and its available means I

out mm MP-essy cxpeM orua t : i H

iirtritiitli fiwii triol f it irwint ttwi imru ifniiwtnf 41 1 f r jet-tut their appointment by preparing a bJl to provide lor the improvement of common schools, to laid before the Legislature. From the source whence it iriginalr d, and the care and labor which have doubtless been bestowed upon it, it will no doubt receive a mature and attentive consideration at your hands. As hy a provision of the bill, it will not go into operation, until approved by a majority of the people, it will be proper in case of its pissage. to pubj 1' and circulate it extensively, in order that every Uli :illnl 0,1 'he t .wouui m .u.in.n next. I am aware that I have teichid uun several tiie, in my views as to whirl:, I sh.ll le t be s f.utunaii a to have the. 1 coucu i lence nf a poi'ion f yom number ; topics too, whichjj

till, ijiijv.iiii ii. ut ii . vj i" un vi ill'; iii!ji.nirs.iis-i-i ed into with its creditors, as well ns those occasioned 1 CoHgr. by our benevolent iiisiitu'ions. we are unable by legis- Washington, Jan. f. latiou, to afford such immediate nnd substantial aid,! jr ledger, from Committee on .Military if.irs, as in ti more flourishing condition of the finances of ! ri.,,orted a bill to extend lhe law lo secure the fill. tig State would be more in accordance- with our desires, j UJ f n.i,,,n,.nlSf WJC, was rta,j anj p-d. and with a sound and enlightened policy. .Much how- iv Ku,.cia n:t.r of the dav being the ten regiment ever may be done, it is hoped, towards the adoption bill, was resumed. of a system, to be more folly matured in future, which j Vir nae denounced the Administration, and opwill increase the us. fulness, the ettieiency, and te ; pot-d voting lucn r mor.ry. He favored the recall amount of the present school funds,--secure their f ,)lt. amiy. and feared that voimif means authorized faithful application, extend the benefits to be derived t,e president to do what he pleaded. He thought from them more equally and satisfactorily and espc- ; xmt patriotism yields to j-olicy, and men favor The c.ally which will ensure a greater degree of unifurmi- . war because they regard popular opinion n.ote than ty and promptitude in the collection of bcl.nol returns j lm.jr on judgements. Hill postponed, and other statistics bearing upon the question; which jr. K-v er Johnsen announced his intention to reis almost a prarequisite to any prudent and useful Ie- py p Mr. Hale. Adjourned. gislation, upon a subject which has caused so great a j T,e House resumed the Southern mail bill, on diversity ef judgment. ! which a warm debate continued till the Lour of adPursuant to resolutions passed by both branches of ; journment. the General Assembly at Us last session, recommend-j ' Washington, Jan. T. ing the friends of common school education to meet in j 'he Senate, after t!.e disposal o' t-ome uninqx'fcouvemion at Indianapolis on the 'JGth of .May lust, j taIll business proceeded to the consideration of the such a convention did assemble and three gentlemen t vn reoiment bill. were appointed to draft a bill for the purpose of rente- j M Crittenden moved a substitute to place thirty dying the defects complained of in the school hws i thousand volunteers nt tlt. disposal of the Presiden. now in force. These gentlemen have fulfilled thr ob- j je ihrxrjrl.i an army tliat could conquer like ScoU'e

f ie a inappropriaie. i A tjiin from the city of Mexico, under General Hut it will, it is trusted, be sufficient to siy that as the Twirrgs, arrived at Vera Cruz on the Ü3d of Decempieva.iini uM?e in this rerd, mut have c,e,t,d a tfe..erai per, and with it a creat many wounded offcers and expectation, that some expussiuii on my part would be maJe .. f, . 1 '" uuaru ru,.iere aim r,n the present occa.i..n,.i.. relaii .n tj thee quesibnw, silence Ä0,t"er' i ram nt molested on the road down, would jive ne to misconstruction. Feelmg it to btr my " was rumored that Gen. Marshall, at Jalapa, d.ny lo meet fiankty every such expectation, believing th-e would march on Orizaba on the tTTth, were Jarauta question lo be uf wide and momentous beaiin; and regard- w as erurar'ed recruiting. im: the present ciisis in our affms as im ninent. 1 have' Pfl r ,, ,"' i . p . c t . . f.eely advanced such views, and indicated uc a cou.se of 'e' detachment of troops, fought the p!icy, a? aie, in my judgment, mot c nducive to the pios- exicans at a place called JUctamoras and defeated peiny ff he pe pie, and to the honor and chaiacter cf the them, taking several prisoners. Lieut. Kidgely, c.iuntiv. In doinj; so however, il ha been my wih to sub- Lane's assistant adjutant, was killed, seive the cause of tiuth, without wounding the feelings of y General Twiggs hud commenced duties as Goverany. The leate&t advances in the onwaid tide of human nor 0f yera txZ imuiovemeut, have taken place under fiee govermcnts, and j Pt r. m ,' ... e , . have mainly resulted from ficedom ..f thought and of speech. ; . 1. iankbead would lave for the city of Mexico Mere dilTeitnce of opinion thereluie, so fi as it excites can- immediately: Gen. Pearce intends resigning hlS did discussion, I promotive nf the discovery of truth, and is commission ; who, with Col. Smvth, is bearer of defar fiom being a suhj.ct of iegrc-t. But when the to uuj1, spatches, and arrived in New Orleans, but by no mean? necessary attendant upon paity division, . pasniun and prejudice a.e found so far to prev.,1, as to es- A Smack of Opposition. The division in the fedtran 'e hearts that beat in unnuu upon other great questions rn, t. , , . ,. , , . u of human concernment, to sever the tics and deaden the erai ra,,K m relat' .Air. Clay and his course, is charities of social inteicouroe, and to blunt the feiception of g'Wing more serious". The lioton Courier, Mr. tiuth itself ; it exhibits a mournful picture of human weak- j Webster's organ, is particularly savage, and giVfr nos and is cau-c of deep soin.w to (he citizen and patiiot. : vent in a tirade which sets forth its griefs in a ternHowever w may differ in lelat.o.i to such qu. stioiis. let i i M?r ewpecially ill-natured for an -'all the decencv" us not folget ih.t theie aie many o hen appeitainmg to us , r nu a" "eceucy as a State, and itnpuiUut to the piospeiity and haj piness of j . J our felloe citizens, a lo which it is ho,ed we can cordially Worship him, ad ye f.wAv. It is most fortunate ague and co-operate. for a small class of people, (of which, unfortunately In conclusion i' becomes us to implore the aid of Him in for ourelf, we happen to be one,) that those who set whose hands are the dcsti.ies f and without hoe lly an image, and demand of all nations, p-unle at (I aid all our attempts will be vain, that h will be pleaded lo i ' , . . , PT11' "l.a .mile np.n our councils, and bless our etfoits for the common u,uat:N vvl,en they hear the sound ot the cornet, wlf..re. JAMBS YYHITCUMB. j ttu,e' i r, su kbut, psaltery, dulcimer, and ail k.nds I.ndianapolu, January tub, 1S4S. j of music, to fall down and worship the siid iimge, .have nut at their control a burning fiery furnace, Mexican Tkopiiiks. -The War Otlice, the Union wf. -rein to cast the Shadrach?, Meehacks, and Abed-

says, na;- reieiveu, uv me ounei u iiiu rcceiniy arrived from Mexico, various trophies of the war. Anion ' them are two beautiful br.s wall nieces of ordnance, sent by (leu. S. oil, and brought to this city by foi. Andrews. Tne nust curi 'tis of these trophies is the black Hag of the Gueril.eros. The material is bombazette. The ornaments and letters in the centre, upon the red ground, are worked with green silk upon black cloth pieces, except the tupiares, which are worked with white. Jnt the most remarkable is a sm ill penant on the toj, made of black, Iii inches by 11$, with various military ornaments. On the top and bottom are a death's head and cross bones. In the centre these ominous; word A' doi cuarttC UlVK no Qt.'AUTEU. This stair and Mag were taken at La Mira Flures, on the loih August, 1S17, from the guerillas who attacked Lieut. Hammond's party. Indiana House of 11eim:esentaiives. Whole number, 100 whigs 5"J, democrats, 4S. Natives of the -State only 1"); natives of Ohio, IS; Maine, 1; Virginia, ti; "Maryland. (5; N. Carolina, 4; Pennsylvania, 12; Kentucky, 17; New VorK, 7; Ireland, 2; Vermont, J. Occupations Farmers 44, Mechanic 1, Physicians 0, Tanner 1, Law vers 27, Druggist 1, Merchants 5, Cooper 1, JSehool teachers 2, Tailor 1, Saddler 1, Livery Stable keeper 1, Shoemakers 2, Blacksmith 1, Miller 1, Millwright 1. Married 81, single lti, double 1, bachelor 1, solus 1, widower 1. Between 20 and 20 years of age, 21; between IiO and 40, :19; between 40 and ÖU, 27; between oil and 0 , 0. i l T) 1 ! -Naval.-1v common, ence iron. ieiiacoia, o ! the 12th instant, the N. O. Picayune is informed o : lirrival iu lhat Prton ,hat l""orn, of y,e V' tresh,p Elector, four days and seven hours from Yera Cruz. Vr. llarriiijfion, .uiUMi.pmeu uint., las, Warring, Powell and Pasteur, U. S. N., arrived in the Elector. ie also had on board twenty-three sick seamen, for the hospital at Pcnsacola. The next vessel of war, which may be expected from Vera Cruz, w ill be the sloop of war Saratoga, with Mr. Trist on board, as that vessel was supposed tc be waiting for him.

TlilMtfr of irrpr-c!. Pursuant l" u I I I. - . n k v '

r 'I the t:,t..ei;s ot M..iicie, Lviu.v.Me fo.ai'.y. ..ui.tiu, was convened at th court on Thursday evening the (Jth of January, löH. to pay the last 'tribute of respect to the memory of our much respected and deeply lamented fellow citizen, tho late Hon. ANDltllW KEXNEUY. The meeting uns called to order by Mr. Frederick K. Putnam, am upon his motion Thomas J. Sample, Esq., was calh'd to the chair, and Mr. James L. Hussey appointed Secretary. The object of the meeting was mccmctly stated from the chnir, nfier which, on motion of Mr. T. S. Neely, committee of five vuis appointed by the chair to prcpnre and present to the meeting a mitabb preamble and resolutions. Messrs. T. S. Neeby, I. Coffeeu, V. Harlan, F. E. Putnam nnd Dr. S. P. Anthony, comprised the committee. The cornuutleo having re tired for a short time, by their chairman .Mr. Neeley, rejoricd the following juvamhle und resolutions v'hn h were uoaumu,u)y adopted, v iz: W boreas, in thedispensations of i'rovtdence, we are called to mourn the untimely death of tin Hon. Anmikw Kknni.pv, our worthy and respected fellow citizen, who departtd this life at the city of Indiaiiaitolis. on th" night of the ;Ut of l)ecembor last; and while we mingle our sym pathies, with the tears of a deeply ntllicted, nnd bereaved wife, children and friends, vve offer this our feeble tribute of re,ocl to the memory of one w ho in the various stations of public und private life, which Ik; was called to fill, ever Mistained the character of uu honorable mau und worthy citizen; therefore, llrsnlvrd, that in th? death of the Honorable Andrew Kennedy, our State has lost one of her well tried rind worthy Kons society n useful incmU r a wife one of the kindest of i.ubnnd- his children a tender and indulgent futhcr and the world ut large un houcvt man. Ilrsttli'd, that this community deeply deplore the dispensation of Providence, which has removed from our midst the subject of these resolutions, and that at a rdighl tribute id" respect to hie worth, we hnie the public bell tidied at 9 o'clock to-morrow, and that the ministers of the different churches in this v illage be I requested to each improve the mournful occasion by a suitable discourse nl such tune as luny best suit the convenience of the re-pected relict of the dereoM d. lltsoltcd, that the heartfelt sympathies of this meet ing ure tendered to the widow, and friends of the deceased; and that whilst we mingle our tear with theirs, we commend them to the mercies of Him who has said, "Leave your fatherless children, 1 will preserve them alive, nnd let your widows trust in me." vVoim, that the secretary prepare and present to .Mrs. Kennnedy, nnd to the aged and honored father of the deceased each a copy of t liefe reMilutione. JvVWifJ, that the proeteer'uigs t'f this meeting b sign d by the officers, nnd a copy t-ent to the offices of the State Sentinel and Journal with u rtquesl for their publication. And the meeting ndjourned. T. J. SAMPLE, Clun'n. J. L. Ruh:y, Sect'y. (Journal phase rnpy.) ;cujtI jjolj pows,ssln ,,f acquin.d l4.rri, rritorv a":iin.ct beiaMV mUs u,,j ,,e rnd ee no reason now for incieasli;g troops one half, i:i .Mexico. Mr. (Jus defended 'he Ulli. r. Calhoun ornwsed the bill and sulisi itute. Mr. Jefferson Davis expressed himself in favor of the bill, but preferred regulars. Mr. C ritte iden's substitute was lost by 10 to i!G. Adjourned lltuse. The President submitted copies of the tor rcspondence with Gtn. Taylor. .Major Gaines was sworn in. Tne bill for restoring the Southern mail to the old route, was under discussion till the House adjourned. l'i'om v era Cruz. ; neg es, who withhold tlieir adoration. Were it oth erwise, who could tell lhe faie that might a.vait the poor wretches who thus brave the command of toe political Xcbuchndnezznrs of our cojntiyj Professional Bkevitv. When Mason preparing the case of E. K. Avery, and had Aaronied Urjut two hundred witnesses, somebody called to tee him. The leoal gentleman sent word that he was -ccupied and could not be interrupted. Jjtit the man is a witness, a Methodist tninUter." "Call him up," said Mason. "Wi ll, sir, what can you testify I" -I have had a vision: two angeU have appeared to me, and told me that Brother Avery is inno cent "Let them be summ ined," 5a id Mason, and resum ed his work. OrThe Boston Courier, Mr. Webster's organ, has the following fling at .Mr. flay : "The right of search, claimed by British oncers, was the cause or one of the avowed causes of the war of 1312. Mr. Clay has very recently reminded his countrymen that thai war was a war for free tra' and sailors rights, although unfortunately for the credit of his memory, he forgot to add that he signed the treaty which put an end to that war. but winch effected no settlement of the quotion which was the primal and most aggravating cause of it." Another Woxhekful IYess. A Mr. William Hcaton, of New Vorn, has invented a printing press, which it is said i calci aled to print od eight h cu in a iugle revolution if the cylinders, taking an impression on both sides of each sheet. Th l .iniber of sheets which it is estimated that it will print in an hour, is not less than twenty thousand. Tho wear of the types is alo likely to be diminished by the invention. The Mayor of St. Louis has vetoed the bill, appropriating $75,000, tobe devoted to the building of two dike from the head and foot of Bloody Island, to tflt; Illinois shore. Keasons given, large indi-btednt uf the city, and the uutfaleuble character of iu bond.