Marshall County Democrat, Volume 3, Number 4, Plymouth, Marshall County, 17 December 1857 — Page 1

!J ill mui & n 'S Vol. 3 No. 4.) PLYMOUTH, INDIANA, THURSDAY, DECEMBER 17, 1857. (Whole No. 1ÖS

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TUE MARSHALL DEMOCRAT, rVBLISHED EVERY THCRSDAT M01LNING, BT iUcDONAIiO & BROTHER. TERMS: If paid In advance,.. 1 00 t the end of six months,. 1 50 If delayed until the end of the year, 2 00 ADVERTISING: One square (ten lines or less,) three weeks,. 1 00 Each additional insertion ? V( Column three months f4 Column six months,. . ion!! 4 Column one year,.... jJO Column three months, 00 4 Column six months, 1? 00 ) Column one year, J 00 1 Column three" months, 14 00 X Column six months -21 00 I Column one year, 45 00 Yearly advertisers have the privilege of one hange free of charge. Democrat Job Office!

PLAIN RULES AND AND DM. TYPE CUTS, mills. Our Job Department is now supplied with an extensive and well selected assortment of new stylea plain and fancy Which enables us to execute, on short notice and reasonable terms, all kinds of Plain and Ornamental JOB PRINTING NEAT. FAST AND CHEAP; SUCH AS CI1CCLAU, HAXDBILLS, Labels, f AMFHLETS, BCSINESS CARDS, blank deeds a mortgages; CATALOCÜTS, And in short, Blanks of every variety and description. Call and see specimens. cUcifir flottrg. MY HCHOOIr-BOY DAYS. AS SCNO BT W. D. FRANKLIN, OF THE 'CONTINENTALS.' I've wandered to the village, John, Iv sat beneath the tree Upon the School house play ground. Which sheltered you and me; But none were there to greet me, John, And few are left to know, Who played with us upon that ground Some twenty years ago. The grass is just as green, John, Bare footed boys at play, Were sporting just as we did then With spirits just as gay; But the Master sleeps upon the hill, When coated oer with snow, Afforded us a sliding place, Just twenty years ago. The old school house is shattered so.nc, The benches are replaced By new ones, very like the same Our pen knives had defaced; But the same old bricks are in the wall, The bell swings to and fro, It's music's just the same, dear John, 'Twas twenty years ago. The boys arc playing the same old game Beneath the same old tree; I do forget the Dame just now You've played the same with me: On that same spot, 'twas played with knives, By throwing so. and so, And we declared that it was sport; 'Tws,?, twenty years ago. The river's running just as still, The willows on its side Are larger than they were, dear John, The stream appears less wide; The grape-vine swing is ruined now, Where once we played the bsau, - And swung our sweet hearts, 'pretty girls,' Just twenty years ago. The spring that bubbled 'neath the hill, Beside the spreading beech, 'Twas once so high, but now so low, That I could almost reach; And kneeling down to get a drink, Dear John I started so, To see how much that 1 had changed Since twenty years ago. Near by the spring, upop an elm You know I cut your name, Your sweet heart's just beneath it, John, And you diu mine the same; Some hf artless wretch had pealed the bark, 'Twas dying, sure, but slow, Just a that one whoe name you cut, Died twenty years ago. My lids have long been dry, John, . But tears came to my ey 3 ; I thought of those wc loved so well, Those early broken ties: I visited the cuurch yard, John, And took some flowers to throw Upon the graves of those we loved, Some twenty years ago. Some are in the church yard laid, Some sleep )eneuth the sea, But few are left of our old class, Excepting you and me: And when onr time is come, dear John, And we are called to go, I hope they'll lay us where we played, Just twenty years ago.

"The President's Message. The President's message commences by returning thanks to the Almighty fur the numerous benefits he has bestowed on this people. We have possessed all the elements of material wealth in rich 'abundance, and yet, nowilhUanding all these advantages, our country, in its monetary interests, is at present in a deplorable condition. Iq the midst of unsurpassed plenty of all the productions of agriculture and all the elements of national wealth, we find our manufactories suspended, our public works retarded, our private enterprises of "different kinds abandoned, and thousands of uso.ful laborers thrown out of employment and reduced to want. The revenue of ihr. government, which is chiefly derived from duties on imports from abroad, has. been greatly reduced, whilst the appropriations made by Congress at its last session for 'the current fiscal ye are veTy. large in amount. Under thes. circumstances a loan may be'requhwl before th close of your present session; but this, although deepjy to be regretted, will prove to be only a slight misfortune, when compared to the suffering and distress prevailing among the people, with which this government deeply sympathises though it may bo without the power, to extend relief. He inquires what has produced these unfortunate results, and whether their recurrence can be prevented. It is apparent that they have proceeded solely from our extravagant rnd vicious system of papir currency and bank credits, exciting the people to wild speculation and gambling in stocks. Thea revulsions must continue to recur at successive interval so long as the amount of the paper currency and bank loans and discounts of the country shall be left to the discretion of 1,400 irresponsible banking instintions which, from the very law of their nature, will consult the interests of their stockholders rather than the public welfare. Exercising the sovereign power of providing a paper currency instead of coin for the country, the first duty which these banks owe to the public is to keep in their vaults a sufficient amount of gold and silver to insure the covertibility of their notes into coin at all times and under all circumstances. No bank ought ever lo be chartered without such restrictions on its business as to sucuro thi3 result. Our financial history for the last forty pears has bwen a history of extravagant expansions

in the business of the cpuntjffhwedby tuinous contractions at successive inter vaU. The bestand most enterprising men have been tempted to their ruin by excessive bank loans uf mere paper credit, exciting them to extravagant importations of for eign goods, wild spcculaiion, and ruinous and demoralizing stock gambling. When the crisis" arrives, as arrive it must, the banks can extend no relief to the people. In a vain struggle to redem their liabili lies in specie, they are compelled to contract their loans and their issues, and at last, in the hour of distress, when their assistance i3 most needed, they and their debtors sink together into insolvency. In the meantime it is the duty of tho government, by all proper means within its power, to aid in alleviating the sufferings of the people occasioned by the bUspension of the banks, and to provide against the recurrence of tho same calamity. Uufortunately, in either aspect of the case, it can do but little. Thanks to the independent treasury, the government has not suspended payment, a3 it wa3 compelled to do by th failure of the brinks in 1837. It will continue to discharge its liabilities to the people in gold and silver. Its disbursements in coin will pass into circulation, and materially assist in securing a sound currency. From its high credit, should we be compelled to make a temporary loan, it can be effected on advantageous terms. This, however, shall, if possible, be avoided; but if not, then the amount shall be limited to the lowest practical sum. I have, therefore, determined that, whilst no useful government works in progress shall be suspended, new works already commenced will be postponed, if this can be done without injury to the country. Those necessary to its defence hall proceed as though there had been no crisis in our monetary affairs. But the Federal government c.nnot do much to provide against a recurrence of existing evils. Even if insurmountable constitutional objections, did not exist against the creation of a national bank, this would furnish no adequate preventive security. The history of the last Bank of the United States clearly proves the truth of this assertion. After all, we must mainly rely on the patriotism and wisdom of the States for the prevention and redress of the evil. If they will afford us a specie bam for our paper circulation, by increasing the denomination of bank notes, first to 820, and afterwards to $50 if they will require that tho banks shall at all times keep on hand at lea3t one dollar of gold and silver for every three dollars of their circulation and deposits and if they will provide, by a self executing enactment which nothing can arrest, that the moment they suspend they shall go into liquidation I believe that such provisions, with a weekly publication by each bank of a statement of its condition, would go far to secure us against future suspensions of specia payments. Congress, in my opinion, . possesses the power to pass a uniform bankrupt law, applicable to all banking institutions throughout the United States. I strongly recommend its exercise. . This would make it

the irrevoble organic law of each bank in existence, that a suspension of specie payment shall produce its civil death. The existence of banks and cirCuLTtion' of. bank paper are so identified with the' habits of our people, that they cannot at this day be su'dQeryabolished without much immediate injury'tö' the country. If we could confine them to their, appropriate sphere, and prevent them frort administering to the spirit of wild and reckless speculation by extravagant loans and issues, they might be continued with advantage to the" public: but this'lay, after long and much reflection, if experience shall prove it to be impossible to enjoy the facilities which well regulated banks might afford, without at the sjlraelime suffering the calamities which the'excesses of the banks hare hitherto inflicted on the country, it will then be. far the lesser eviPto deprive them altogether of the power to issue'. a paper currency, and confine1 them to functions of banks of deposit and discount. ' Our relations with foreign governments are, on the whole, in a satisfactory condition. The diplomatic difficulties which existed between the governments of tho U. Statesand Great Britain, at the adjournment of the late Congress, have been happily terminated by tho appointment of a British Minister to this country, who has been cordially received. Tho President, whilst saying we have no right to doubt the Kjncerity of the British government in their construction of the Clayton-Bulwer treaty, at the same time expresses his deliberate conviction that this construction is in opposition both to its letter and its spirit. The fact is, that when two nations like Great Britain and the United States are rati; tutlly desirous to maintain friendly rela; tions with each other, and have uufortuate1j concluded a treaty which they understand ih senses directly opposite, the wisest course is to abrogate such a treaty by mutual consent, and commence anew. Had this been done promptly, all difficult lies in Central America' would most probat bly ere this have been 'adjusted to the satisfactioffof both parties. Whilst entertainingthese:sentimcnts; I shall nevertheless not refuse to contribute to any reasonable adjustment of the Central American ques'1 tion which is not practically inconsistent with the American interpretation of the treaty. Overtures for the puipose have been recently made by the British govern: ment in a friendly spirit, which I cordially reeiprwato; but whether this renewed cf fort will' result in succes I am not yet pre-' pared to express an opinion. A brief period will determine.

With France, our ancient relations of friendship still continue lo exist. The French government has, in several recent instances, which need not be enumerated, evinced a spirit of good will and kindness towards our country v hich I heartily reciprocate. It is, notwithstanding, much to be regretted that two nations whose productions are of such a character as to invite the most expensive exchanges and freest commercial intercourse, should continue to enforce ancient and absolute restrictions of trade against each other. Our commercial treaty with France in this respect is an exception from our treaties with all commercial nations. It jealously levies discriminating duties both on tonnage and on articles the growth, produce or manufacture of the one country when arriving in vessels belonging to th other. With all other European Governments, except that of Spain, our relations are as peaceful as we could desire. I regret to say that no progress whatever has been made since the adjournmentof Congress towards the settlement of any of the numerous claims of our citizens against the Span ish government; besides the outrage com mitted on our flag by the Spanish war In ate Ferrolana, cn the high seas, off the coast of Cuba, in March, 1855, by firing into the American mail steamer 1 Dorado, and detaining and searching her, remains unacknowledged and unredressed. The general tone and temper of the Spanish government towards the United States is much to be regretted. Our present Envoy Extraordinary and Minister Plenipotentiary to Madrid has asked to be recalled, and it is my purpose to send out a- new Minister to Spain, with special instructions on all questions pending between the two governments, and a determination to have them speedily and amicably adjusted, if this be possible. With regard to the China mission, the President says, whilst our Minister has been instructed to occupy a neutral position in reference to the existing hostilities at Canton, he will cordially co-operate with the British and French Ministers in all peaceful measures to secure by treaty stipulations those just concessions to commerce which tae nations of the world have a right to expect, and which China cannot long be permuted to withhold. From assurances received, I entertain no doubt that the three Ministers will act in harmonious concert to obtain similar commercial treaties for each of tho powers they represent. Our difficulties with New Granada which a short time since bore so threatening, an Aspect, are, it is to be hoped, in a fair train of settlement in a manner just and honorable to both parties. With respect to ihe Isthmus of Panama, he recommends to Congress the passing of an act authorizing the President, in case of necessity, to eraploy the land and naval forces of the United Slates' to carry into effect the guarantees of. neutrality and protection. I also

recommend similar legislation for tho security of any other route across the Isthmus in which we may acquire an- interest by treaty. Respecting the Walker expedition to Nicaragua, he says such enterprises can do no possible good to the country, but have already inflicted much injury both on ita interests and its character. I commend the whole subject to the seriovs attention of Congress, believing that o ir interests, as well as our national charactjr, require that we should adopt such measures as will bo effectual in restricting our citizens from committing such outrages. Citizens of the tho United States, who are established in business in Paraguay, have had their property seized and taken from them, and have otherwise been treated by the authorities in an insulting and arbitrary manner, which requires explanation .and reparation. A demand for these purposes will be made in a firm but conciliatory spirit. This will the more probably bo granted if the Executive shall have tha authority to use other means in tho event of a refusal. This is accordingly recommended. The President considers tho Kansas question at length, saying that, under the Kansas-Nebraska act, the convention wr.s not bound to submit any other portion of the instrument to an election except that which relates to the domestic institution of slavery. This -will bo rendered clear by a simple reference to its language. At this election, every citizen will have an opportunity of expressing his opini'm by his vote, whether Kansas shall bo received into the Union with or without slavery, and thu3 the exciting question may be peacefully settled in the rery niode required by the organic law. The election will be he'd under legitimate authority, and, if any portion of the inhabitants shall refuse to vote, a fair opportunity odo so having been presented, this will bo their own voluntary act, and they alono will be responsible for the consequences. Whether Kansas shall be a free or slave State, must eventually, under some authority, be decided by an election; and the question can nover bo

more clearly or distinctly presented to the

people than it is at the present moment. 1 lie I'rcsident counsel great caution la Should this opportunity bo rejected, she the bestowing of public lands. While, as may be involved for years in domestic dis- !a source of revenue, they are of great imcord, and possibly in civil war, before she ! portance, thou importance is far greater as can again make up r.n issue now so fortu- furnishing homes for a hardy and i:idena ely tendered, and again reach the point i pondent race of honest and industrious ihe has already attained. Kansas has, for j citizens, who desire to subdue and cultisorne years, occupied too much public at- vale the soil. They ought to ba adminis tention. It is hiifh time thi3 should ba di- i tered mainly with the view .of promoting

I rected to far more important obiects. When -once admitted into the Union, whether with or without slavery, the excitement beyond

her own limits would speedily pass away, heretofore, 1 recommend that the lntermeand she will then, for the first time, be ! diate sections retailed by the government

left, as she ought to have been long since, to manage her own affairs in her own way. If her constitution on tho subject of slavery, or any other subject.be displeasing to a majority of the people, no human power can prevent them from changing it within a brief period. Under these circumstances it may well bo questioned whether the peace and quiet of the whole country are not of greater importance than a mere tem porary triumph of either of tho political parties in Kansas. Should the constitution, without slavery,-be adopted by the votes of a majority, th rights of property in slaves now in the territory, are reserved. The number of these is very small, but if it were greater, tho provision would be equally just. These slaves were brought into the Territory under the constitution of the United States, and are now the property of their masters. This position ha9 at length been decided by the highest judicial tribunal of the country, and this on the plain principle that, when a confederacy of sovereign States acquire a new territory at their joint expense, both equality and justice demand that the citizens of one and all shall have the right to take into it whatever is recognized as property by the common constitution. To have summarily confiscated the property in tho slaves already in the Territory would be an act of gross injustice, and contrary to the practice of the elder States of tho Union which have abolished slavery. Utah next claims the attention of the President. This is the first rebellion that has existed in our Territories, and humanity s itself requires that wo should put it down in such a manner that it shall be the last. To trifle with it would be to encourage it, and render it formidable. We ought to go there with such an imposing force as to convince these deluded people that resistance would bo vain, and thus spare the effusion of blood. We can in this manner best convince them that wo are their friends, not their enemies. In order to accomplish this object, it will be necessary, according to the War Department, to raise four more regiments, and this I earnestly recommend to Congress. At the present moment of depression in the revenue of the country, I am sorry to be obliged to recommend such a measure, but I feel confident of the support of Congress, cost what it may, in suppressing insurrections, and in restoring and maintaining the sovereignty of the constitution and laws over Utah. He next recommends the establishment of a Territorial government for Arizona, and commends to the friendly consideration of Congress tho subject of the Pacific Railroad, without finally committing himself to either routo. .''.,. By the report of the-Treasury it appears

that the amount of the revenue received from all sources inXo the treasury during the fiscal year ending the 30th of June, 1857, was 863,632.513 67, which amount with the balance in the treasury at the commencement of tha Tear, makes an agregate for tho service of the year of $83,532.839 12. The expenditures amounted to 860,822,720 85 leaving in the treasury, at the commencement of the present

fiscal year, July 1st, 1857, 317.710.118 27. Tho receipts into the treasury for the first quarter of the present fiscal year, commencing July 1st, were 820,929,819 87, and tho estimated receipts for the remaining three quarters, to the 30th of June. 1858, are 830,750,000 making, with the balance before stated, an aggregate of 875,379,934 08 for the service of the present fiscal year. The actual expenditures for the first quarter of the present year, were 823,714,528 37. Tho probable expenditures of the remaining three, to June 30th, 1858, are 851,248,530 04 making an aggregato of 874,963,058 41; leaving an ostimated balance in tho treasury, at the close of the present fiscal year, of 8426,075 67. The amount of public debt unredeemed at this time is 825,165,154 51. The amount of estimated expenditures for the remaining three quarters of the present fiscal year will, in all probability, be increased, from causes set forth in the report of the Secretary. Iiis suggestion, therefore, that authority should be given to supply any temporary deficiency by an issue of a limited amount of Treasury notes, is approved, and 1 accordingly recommend the passage of such a law, a3 stated in the report of the Secretary. Tho tariff of March" 3rd, 1857, has been in operation for only a short time, and under circtimstanae so unfavorable to a just development of its results a3 a revenue measure, tht I should regard it as inexpedjent.at least ior the present to undertake its revision. I would calj tho special attention of Congress to tho recommendation of the Secretary of the Xavy in favor of tiie con struction of ten small war steamers of liirht draught. The whole cost of their ! construction would not exceed 82,300,000 ; this wise, benevolent policy. If Congress j should hereafter grant alternate sections to i States or companies, as they have done 'should subject to pieempiion by actual ettlers The present system of making the Indians valuable presents to influence them to remain at peace, has proved ineffectual. It is behoved to be the better policy to colonize them in suitable localities, where they can receive the rudiments of education, and be gradually induced to adopt habits of inuuatry. bo lar as the experiment has been tried, it has worked well in practice, and will doubtless prove to be less expensive than the present system. It will be seen, from the report of tho Postmaster General, that Post Office Department still continues to depend on the Treasury for an important portion of the means of sustaining and extending its oparations. The Piesident concludes by expressing the determination to approve no bill which he has not examined, and it will be a case of extreme and most urgent necessity that will ever induce me to depart from this rule. I therefore, respectfully, but earnestly, recommend that the two houses would allow the President at least two days previous to the adjournment of the session within which no bill should bo presented to him for approval. Failure of the Financial System orEuropc--Iiicreasc of Amcricau influence. There is a disposition both in England and this country to underrate the importance of the tempest that has lately passed over the financial world, and the journals that lend their ear to and follow the opinions of some interest-bound clique do not perceive tho vast importance of events that are germinating around them. Single events that indicate the course which the great upper-current rf is taking are daily transpiring. Yesterday one of our Washmgton correspondents advised us that a very high diplomatic authority in England ha3 written homo that the wisest heads there are shaking in view of the advices which are pouring in upon them from America, and in the same letter tells us of another incident which, in his view probably, had no conneciou with what he had just before stated. We allude to the an nouncement that Mr. Belmont would retire from political life, and go to Paris to take the management of the banking house of the Rothschilds. Both of these things point to one great truth, which is the wide and growing influence that affairs in America are attaining in Europe. In fact both to England and France the commerce of the United States are of vital interest. , We are in a very great degree the largest foreign consumers of her products and man: ufactures, and the most profitable employers of their accumulated capital. What

ever, therefore, disturbs our consumption of the yield of their industry, or our safe employment of their wealth, comes at once home to their pockets and their hearts. It is this that has led to the anxiety that attends the receipt of advices from America in London; that has brought into life the numerous English, Fiench and German banking houses in New York; that has carried a Bales and a Sturgis iuto the responsible management of the London house of Barings; that has given werdth and influertco to a Peabody; and that is now about to carry Mr. Belmont to the head of the house of the Rothschilds. It is true that Mr. Belmont is not an American, but he has perfected his business education by a course of many years in this country, and looks at affairs now with an American eye, and judges men and things by an American standard. In this, as well as in many other things, we may perceive the indications of the daily advance of American influence in Europe, and the graduaj reliance of its leading interest upon American talent, energy and enterprise. But the effects of the present financial revulsion in Europa will reach much further than the simple advancement of American influence in European affairs. In our first comments upon the advices of the suspension of the Bank act in Englaud by a treasury letter, we stated that it was tho failure of tho whole financial system of Europe. A succinct historical review will demonsti ate this. Whan Junius was writing his celebrated letters to the London Morning Advertiser new nearly ninety years ago ho stated in a private note to Woodfall, the editor, that in his opinion the country was ruined; that it could not bear the burthens which the government was placing upon it; and that he was selling out of the funds. At that timo the public debt of Great Britain was less than one hundred and fifty millions of pounds, and its market value somewhere about six-ty-threc. The prediction of Junius was falsified by two little events that subsequently occurred, and which have enabled England to carry a debt of more than fire times the amount which he thought to bo the limit of her ability. Watts perfected the steam engine, and Arkwright invented the spinning jenny. These inventions increa3ed the productive power of her population a hundred thousand fold. Her mines were re-opened, her manufacturing industry recreate J, and her commerce increased to a hitherto uniniagined extent. Upon this new power the credit system was vas.ly expanded, new. wars were undertaken, immense loans negotiated, and the nation, exhuberant with its new prosperity, boro the increased burthens with even greater ease. Other governments seeing the effects produced in England have followed her example. Every-wherc largo standing armies have been kept up, wars have been made, and hardly one of the governments of Europe for a long series of years has exhibited the healthy con

dition of a surplus of revenue over expenditure. But the sadden increase of the circulating medium by the vast production of goJd in Californi a and Australia has destroyed the equilibrium between labor and prices; and this occurring at a time when the spendthrift governments of Europe had nearly or quite reached the limit of their facility to crea'.o'ncw debts, the ability of the people to pay has broken down under the joint pressure of the stockjobbers and the speculators, and the end of the whole system has come. The neces sity of a paper expansion which is nothing more than a depreciation of the stand ard for the payment of debts, which has been openly acknowledged by the government and tho people of England is a pal pable confession of this fact. The demands of the future cannot be met in Europe by new Watts and new Arkwrights. The palm of Invention has pass? ed away from her, and may be seen any day in the Patent Office at Washington. The steamboat, the cotton in, the electric telegraph, the planing machine, the breechloading rifle, the revolving pistol, cV a thou sand other machines that mark the age' we live in, are pure Americanisms, and tell the frtory of America. There is another American invention 'hat will yet make its mark in Europe before the effects of the present financial and consequent political revulsion shall have ceased there. The breaking down of the whole borrow-and -spend system of government in Europe may lead the people to reflect upon the great utility of the American ballot bor. X. Jr. Herald, LOVE OF PRAISE. The love of praise, howe'er concealed by art Reigns more or less, and glows in every heart The proud to gain it toils on toils endure,' The modest shun it but to make it sure.' O'er globes and scepters, noir, on thronest swells, Now trims the midnight lamp in college cells. 'Tis tory, whig; it plots, prays preaches, "pleads, Harangues in senates, r peaks in masquerades. Itaidsthe dancer's heel, the writer's head J And heaps the plain with mountains of the dead; Nor end with life; but nods in sable plumes, Adorns the hearse, and flatters on our tombs. Yocko In the Tennessee Senate, Mr. Good pastare presented a memorial from citizens of Scott county, asking to berelea6ed from taxation on account of the hard times, and that an appropriation of 4,000 or 85,000 be made for their benefit. '

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