The Wabash Courier, Volume 11, Number 14, Terre Haute, Vigo County, 10 December 1842 — Page 2

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NATIONAL CO* a

^J&elligemxrt btMi lb vwttioa[ Mem to be tpiofed

l'ie,e

IOR.

the Lexington itionl Coaand meet the

fh. WbtaJ"™" S""*.11'* in the immediate

*^"m^Lh neighbors, ^SSSw^Kmb«red that Mir. Cur tus fot icceoted our of tht numerous local or Stats Mminatioae wELh baretweo made of him for the iMatPrcsidciyyt tiot will be, we believe, permit his name

connection with thst office, unless Mly auprcfted1 with U» idea I bat a majority©! lbs Amaricsn f»g£-l* Great Wk'g partj—demn

lita sleeupn. Io1832 bis

own opiuiomand wishes were overruled in 1616 be yielded to Gen Hai*isok. and hit never to be forgotten letter to the Harnaborg Convention in 1839. well aa liia conduct during the political campaign of 1810, afford evidences of to eeif-aaenbee too recent and too noble to.be esstly erased from oar memories. It may be truly said of him, that tn sll times of difficulty or dancer, when the mere bunwi for ofgce or the timid lovers of popularity would be dtspossd shrink from the con eat-to surrender the Oovernjocnt to the fpollers and let ruin do ice worst—be hss never faltered or railed he baa always nobly and boldly hired bis boaoirt to the severest "peltings ot uie .pililem storm," of party strife, and the of personal malignity, alike "defying the one scoriting the other." Again and again "J™. liani talents and exalted name been our buckler in the battle, his gallant atuf countersign. In time past h^verbew our leader in acafing ths fortresses of the enemy our front rank man lit r«:«ung ibctroaaoultt"Bui be baa now. retired io the pmcetuisnaiies *sh»and, and jf such behis de*«i,^ there to win uviet happiness tixt remaining years orhie ev^iioi gu We

avu tier complain* of tlie p«et nor challenges the fmi.rr Jl* arest deeds have ali*ad*anadaJJie« mark S^Sahe »K». and iKber lime nor calumny mii blot

USIOT

eradicate it. Hie cotemporanee may fail to do bi'ri JuaHoe, but biatory and proepemy wi.l not. "Bui ie this a time to givebim up?—to loac hia strong arm, bis inirepid courage hia inflexible nonceIV. s«n«iure»l wisdom!- While corruption and dieimnnr ilura io allow their unblushing face in open day honor dure to show iheir unblushing —while treason and traitors are lauded and defended bv the high and mighty ones of earth: who else shall we place at the beau ei our column? Who can so well command an army aa its General in a thousand com* bais, with hia many scars, all in f™*\'

rally the troops ana give them confidence ana nnal

,r'"Mr'ciay

could not, irhe would, transfer his tow

ering popularity to any other leader, any more than he could hia twit history. His unrewarded service* and sufTciinc* in the Whig cause, have made him bone ol their bone, and no base lear or timid Wicy will ever induce them to give him up or abandon htin. 1 he nomination, llien of a

National Cunoenlton,

ratification

ol the

r*th"r

Peojdt'f Nomnatton,

already made,

would, in our opinion, give him »ucb conclusive evt* dMe* of public wntimeui s» would induce Inm to acoept the position thus assigned him. "Again, as our friend well remarks, a National Convention is advisable for the purpose of concentrating the entire Whig vote upon one candidate

as we obtained over the plundering

ol9«e holders in 1840. "White on this subject, we hope we may be pardonad for suggesting the City of Baltimore aa the place lor liolding the Convention, as most accessible trom the West, and greatly so wiih any other city on the seaboard to the South and North. The uine about the second Monday in December, 1843,

be aa numerous.y

attended as convenient, with power for each delegation to vote the full electoral vote ol the State represented. This will place the near snd distant States upon a perleet equality, and csprcas tljc Yoipe of the Wecionai College.'' -y

KVIIIO SP1UIT.

Throughout tlie whole union the Whig press base*liibited an undaunted spirit under all the defeats which have overtaken their party, and are just as determined to "tight o»".itt the great political contest aa it they had experienced no reverse. This is true patriotism the good of the country ie the paramount object, and when it «in mojtf dancer they are disposed to soakf the strongest effort for its preservation. What an eellent character this fives to the Whig party? wahowa that they do not contend for mere victory, anu that when they fail they do not sink into activity and despair, and resign, like whipped cowards, their country Tiber ties into the hands ol those who have prostrated them'.- Noi they contend for principles of liberty—for beneficial measures the good they aim at is indostructible. aud always to be gained by proper effort, and though they may be baffled by fraud or sacrificed by the inactivity of some of their owu party, they Mill s'.rUKglo, invigorated by the certainty that "ralA ie uiigtity and will prevail." Were not the Whig party animated by au ntrUutmg

principle, they would have

long since been utterly destroyed: but they havo ever borne defeat patiently, aaain buckled on their armor and rushed into the conflict undaunted and for this undaunted bravery they have beeu rewarded. In 1840 the victory was more glorious than ever was achieved by auy political party: their efforie were crowned with the most brilliant success, and they then Ie jrned a lesson which tbey never will forget-—that the Whigs have a majority of the voters of this country, and that by proper organisation and activity they c.in always have Uio ascendency.

The W bigs find nothing in the late elections to prostrate their hopes.- they have been in a much worse iwntliiion in tiiin# past, and yet were enabled, by their preservative power, to save the country from destruction- These local discomfitures strike them with no despondency: a worse picture than tbie was presented to thoin in 1839, when they liud but six states left to ihem out of the twenty-a:x. Nu party, that was not HctMtfti bf prindpits nf fMtrivtitm

Whig principles cannot be destroyed, and so long as truth, virtue, and patriotism are promised reward, will the Wings be "steadfast in their faith,"'"joyful in hOM.'1 «r——

would ever have

attempted to raise itsell'trom such a prostrate condition? but the Whigs knew truth and liberty were both on their side, and by a struggle they overcame the oppressors and waved on high tlio banner of victory. By the elections of 1^39 only six states were enrolled on the aide of the Whigs in 1840 out ol the twenty six ataua wore in favor of Whig principles and Whig men- These things are not forgotten by the Whigs uitd when considered in connection with the fact that at the late elections, thousands and tena of thousands of Whigafailed to go to the polls, who will turn out in 1844—they are coufident that at the Pre•identat election they will entirely overthrow their opponents.

The Whig Farty—The Recent Klections. It is natural that the Whig party should be dispirited by the result of the recent elections. It ia natural that tbeir adversaries should be elated. Theee sre the results ol every political contest- But it is only to men of superficial observation and ol timid character that the elections will furnish grounds ftr tmtMrtdency on the one hand or hope-on the oth*. Tboee who took beyond ihe suiface of things, will see that there was nothing in the character of the contests that have just been deetded. Dial could stit the gnat deeps ol the public mind or the public heart. The Whig party ia paraliaed for the moment by the lassitude that follows extraordinary effort. In many places- ia Pennsylvania tor instance—it was the pisrt wisdom to allow their adversaries the privilege of

extricating the aflinrs

i-f the States from the embarrassments into which the legislation e| LoooFocohna had brought them. The Mine might be said, to a mat extant, ot Maryland, New York and Ohio- In Massachusetts, the conns of Air. Webster had a stunning effiset from which the bodr politic will yet reoator to exhibit new vtfor and reaolution. The only ihing that the Whig party has to do to ensure future suocces. ia to guard itself against the delusion ol despair :o mamtain its identity and individuality, to scorn all ineidttom oilers of alliances fatal to r« organirMion and supremacy, and patMHtdy to bide its time. It has no quarrel to settle amongst the aspirants to to the Presidential office. It is nniicd upon om man-It looks to one leader—It can be diatraeted by no tmngace for the saoeesaion. It hM got rid of its traitors, and every man now tn its ranks will do good •ervteeat the day of trial. Let it took at the condition of ibe wbwawe^ aotl.ua ecorofort fhwa iheooa templet ton.

Let it ask tf it* advsnarice can go into battle with any i!!^^W0C7!'!!.n,k

,h®

,M4,

are many unequtvocnt indicaiious that the same plan i* to be again pressed by the Administration during the coming winter. MrWebster dwells upon its alieged merits in public speeches the MidisoniM daily glor* Ho it aa the greatest, the beat, the only ho|e of the country the Corporal's Guard preach up the necessity of its adoption wherever they go and order* are issuing forth from

White House to everyl Tyter editor the throughout ihe option to get tip meetings and momoria)s in the -AH these efforts, however, are destined to prove miserably abortive. The Whigs, who area majority in the present National Legislature, are anxious to do every thing in their power to restore credit and confidence and establish a sound currency, but they bare no idea of adopting a measure which, without subserving either of those purposes, would arm the Executive with power that they believe he ought never to be allowed to wield. They cannot, consistently with their own view# of rectitude, or with a due, rugard to the present standing and future fame of themselves and their party, permit a measure to go forth as approved by them, which is at war with all their principles and past professions, and which they think calculated to heighten, broaden, and deepen the already monstrous corruptions of the Government* The true policy of the Whig party in Congress and of the Whig party throughout the country is to stand fust to-:the plan of a-National bank for, if the p$pp!e are not convinced by the long series of financial' disasters, through which they have gone, of the necessity of such an institution, they will be convinced of it by the still more terrible experience that is yet in reserve for them.—Lou. Jour.

STORM ON THE LAKE, From Ike Cleaveland Herald.

"iii

Wfao

wiall

TE1RIBLE EFFECTS OF THE GALE.'' The steamer Gen. Wayne, Capt. Pratt, arrived to-dny from Buffulo, confirms most of the reported disasters mentioned last evening. We are indebted to Capt. P. for the following list of vessels driven ashore in thegnle. Probably it is not entii'ely correct. icago, ashore at Silver Creek^

Diy it S. B. Chlraiu, usiiure ui onvci v/iecni£& Sclir. Walter Joy. .IK., 'W .-

lor Vice Pres

ident, as there is reaaon to apprehend a non-election py the people, if the names ol all the diattnguialied gentlemen now spoken of, all shall remain upon the list. But the most important reaaon, perhaps, is to produce harmony,concert, energy and sell-devotion in the Whig ranks, by assembling together our cboaen friends ibe Whig fathers of the land.•' to hold common counsel for the general good. This will ensure as certain and orious a triumph over "Vkto and Ditto." the traitor and the turncoat,

Jeflferson, 7 livealost. m'set, Brandy wine, lost, and crew.,(ilMi^j Brig Francis Mills.

Indiana- a— Mi«iwippi.

Brig O. Richmond. t.

Ucbr. Edwin Jenny/ fX Florida.

Ben Franklin^.

Henry Roop.

Til

Allegan.

tv* Pelr,01'-

Lord Seaton.

Tne steamer Wayne which had left for the west, and several sail vessels, comprising the whole of those which cleared yesterday, were compelled to return to port again. The brig Owauungah and schr. Scioto are in with full cargoes from Cleveland. The large fleet which left port on Wednesday, have doubtless reached Cleveland or some other places of safety. All operations along the harbor are for the present suspended.

The brig R. Crooks, which left here on Wednesday evening, and which was within a short distance of Cleveland, has just returned to port, having been compelled to do so in consequence of the gale

The schooner Kentuckv, one of the lower lakers which enme in with the (urge fleet a few days since, had a cargo of wheat, which has since been disposed of here, and the vessel ordered again for a western port.

PUBLIC LANDS.

The officers of the Treasury have adjusted the accounts of the States and Territories under tho Distribution Act, and the Governors have been notified by the Treasury Department, oftheamounts payable to their re. spective States. The amount !o be divided is •56*2,144,18, exclusivo of tho ten per cuntum to tho States in which the lands have been sold.

The amount due Ohio of this sum, is about 960,000. If the policy of the Whigs could have been carried into effect, the sums arising from the sale of the public lands, would soon relieve the people of the States from a great part of the heavy taxes under whteh they now suffer.

There is, however, but little hope that tlie funds arising from the sale of the public domain will heroafter be applied for the benefit of the Stains. Politicians havo seiaed on this matter, as a convenient hobby ibr electioneering purposes. Those who are immediately connected with the General Government, by holding office.under it, sad the hungry expectant* of executive favor, who are pining for a fat appointment, will use every exertion to keep this fund at the disposal of the National Administration.

lands

&dof the Nullifier of of the North—or of the Pennsylvania—

or of tee weak, redialing faithless man now at ths headofaffiiira? Thslat* elect tone are no mora enfnmaof the defeat of the Whigs in 1U4 than t^i dMutets o4 1838 and 1838 brerwuwn of a tn l«40. Let as look back foriaatraocttaa **5 with confidence and hape «o

the eanaa of utsa Liberty in

^»^|ewe will he again inwnphant&*>***

KXCtlEQVKR*

Akhoufh the exchequer, —"wlih ite

Proaident vaA Mr* Webster'a dl Coojtcaa

jpi-j

'in'

Sclir. Ohio. "V/Vfi Kingman. Mt. Clemens.

"Wo udd the folJowthg" parficulard from the" Buffalo Commorcinl: Galk.—Tho wind cornmenccd blowing from south-west and finally veered around to the west, last night about 9 o'clock, and has continued a gale down the lake to the present time. But tittle damage has been done by the rise of the water. The steamers Franklin, Sandusky nnd Julia Palmer, which wore laid up for the season in :he neighborhood of the Marine Railway, broke from their moorings and drifted ashore on the east side of the creek-: nnd a few canal craft have also been beaded in tha ship canal.

It is by the surplus furnished by the sale of public la mis, that the dominant party ia this countrv for the last twelve ytars, has been ableto retain its supremacy. From this fun', retainers of all kindu—stump orators, travelingagents, brawling politicians and corrupt presses hare beea rewarded. With such an array of selfish partisans in opposition, it cannot be hoped that tbo proceeds of the public

%ill be applied to their legitimate use, until the people of the United States learn, by tad experience, to distrust the hollow promises of interested and ambitious men.—Toiedo

Omiea kunt* a Lkc Back-—One of the foodon man, speaking of the lata pews-fight near New Yovfc. which renal«ed «the death of gtaathe noivcraa)

Yankee nation a

by the force of

was unantmoualy Uio late

S3L.

dnmkut

GOVERNOR'S

MESS ME:

Delivered to (fee frei Assembly* y""5, of fist Smalt f. wand Jftum of

Assembled again in obedience to the 1%quiiremenlsol our political institutions, the mtod naturally reverts u^tbp I**1. heart to the Great Author of our lives, lor the bounties of His goodness. A beneficent Providence has smued upon as since the last annual meeting of the Legislature, and we. yet enjoy all the elements of our national neatness and prosperity. We have beea once more.permitted to convene as the Kep fesentatives of a free people to convene is peace to convene after a season of agnculiuial plenty and general health. The receai« treaty with Great Britain has banished all apprehension of war from our borders*, aoi lias secured to us a bloodless and satisfactory adjustment of an unpleasant controversy tvita^ a great and powerful Nation. And although there is much in the depressed condition «fL our monetary affairs, and in the uncertain and unfixed character of the national legislation, which may well awaken regret aiH disappointment yet we have much, as a people, when contrasted with others, to bow otnr. nearts with unfeigned thankfulness to itfe* Giver of all Good, and to inspire us vttth new ardor to persevere in the work of tians-

hoped, patriotic determination, the Representatives, of Indiana have at this time assembled ia the discharge of their high and honorable duties. It is to be hoped, that, in the exercise of the important and exciting trusts which now devolve upon them, a bright example will be' held forth to the world, of integrity, biruess, and moderation of respect for the laws, ani of firmuess in their execution that the spirit of lawlessness and faction, which hia beef* elsewhere unbridled, will be promptly rebuked, and that the utmost harmony will characterize the agitating duties of the present session.

Directing our attention to the sphere of our immediate duties, we find but few subjects to engage the labors of the Legislature yefe these few are of pressing concernment to our citizens. Among the most important of these is the condition of our currency. In tha year 1839, the Legislature, for the purpose of paying contractors on the public works, au thorized an issue of treasury notes to amouni of §1,500,000. These notes forme a very considerable pari of our circulation, and passed at par until about seven month* since, when they suddenly depredated i«^ value between forty and fifty per cent. A# that time there were over $1,000,000 of these notes in circulation and the immediate effect was not only to leave in the hands othe community a circulating medium that an swered but few of the ptn-poses of moneys but was also equal to a clear loss to the pea*

Eolf

in tha following wise:

"Oar friend* on the other sida of the Atlantic are in a nost "partieniar kitttto&c.

«a nooonnt af a boxing

match which has taken plana betwwen *iwo Sritishsn* there, aad ia which ana vagabond haa pet th&mhcr oat of ihe world. Mowawf Ismsaiahia snehaa avaui way ia itself ha, wa can esaeint of few things am Indicnaa thaa anythwa Itha a asanodf over it kyikesekraca of the rtfle bnlt and boww knife—these adepts in gongtng. Tfcay. faW—Oma ftsHt of their faelinas af abboranes for sech hrstal exhibitk»a! What da they ibhort la it tha *iaaraase* which charactcvisee the •MM hratal af thaae axh*hitioast

SmeA

a ieeliag we

Mdflht ua Jitatand hna» ety suhbarsand stern ahoowra Sufor a Vaatkaetoudhafaa fingtish priaa-fahtoth-erwise thnnMa matter of praiaeisaa asawkishasuis

Baqsnct pray de, BrotiMr Jonathan

le, by this sudden depreciation, of nearly a million of dollars. But this was not all. Shortly afterwards the State Bank re* sumed specie payments, and thus a strong line of demarcation was drawn between i# notes and those issued by the State. This, however, is not all the injury that has been suffered. Nothing operates more injuriously^ upon the business of any people, than to have two kinds of circulating medium sustaining different values. The worse currency ia forced upon the people,by every pretext wnicljf cupidity can suggest, while the better ewett"** lation is to a great extent withdrawn front 'fta legitimate emplayinent, -at}d. aaplitsii i^t the hands of the broker, to dealing & the depreciated currency.

The effect of these treasury notes on thak State Treasury will demand your coneidera-* tion. Nearly the entire State revenue for the past year, from the present indications will be paid in this currency. This leaves the treasury nearly destitute of means to payj the members of the Legislature, the variour public officers, and the current expenses pi the Government. The share Indiana fe entitled to receive from tbs distribution of thc| proceeds of the public lands is $26,877 66. The General Govervment has withheld, of this sum $13,976—to pay back interest due^ on the bonds of the State purchased by the General Government, and invested in thot Chickasaw and Choctaw annuities, leaving a. balance to the credit of the

State of $12,902 66.

This mav be set down as constituting the, amount of actual money to meat the ex pen-. ses of the Slate for the present year. Th#y deficiency is to be supplied in auch manner as the Legislature may direct. The devising of ways and means to defray the expenses of the Government is the peculiar province of the immediate representatives of the .people* •with which I may not interfere! but 1 can-: not press too strongly on youi consideration the necessity of using every exertion for the earliest practicable redemption of the treasu*j ry notes to save the people from further losM and relieve tlie revenue of the State from embarrassment. I would also call jour at*i ten lion to the impolicy of re-issuiug treasury notes that have been once received at the treasury, if it can possibly be avoided. As the amount in circulation is diminished, tbeir valne will be proporfionably increased, but this advantage will be entirely lost by throw-1 ing them again afloat. The faith of the State is pledged Tor their redemption, and, for the sake of our credit ami for tne interests of the community, it must be done speedily. In addition to the payment of the revenue, and other meant heretofore prodded for the redemption of the treasury notes, and which ought to be made available as far as practice-: bie, every other means whieh the State, consistently with har just ob!igatlonft, can apply to thisr^ect, should be bmught in requitation. Vf ry many of our citizens ate indebted the State in various ways, and ot ac-1 $ount of various funds, and.after looking over I the whole grounds, and viewing the emberrassnsenls to which we must be subjected tintil the treasury notes are all redeemed by the I

State, I can see no better plan than to make them receivable for all Stale dues as far as it' can be done. If the Stete will not receive money of her owu creation for her own dues, she cannot and ought not to ask the people to give it that credit as a circulating medium which die refuses to accord to it.

As regards the condition of our foreign debt, there has been no material change nace the i| last meeting of the Legislature. No part of the interest has been paid, The suspended debt has been made the subject of very considerable investigation by the Slate agent, and the result is to strengthen the probability that neatly the whole of the amount will be a total loss. Of the collateral securities, it is not probable that more eaa be rcalosd from them than half a million and even to save this amount will require coach care and attention.

The failure of this and several other States to aseet the interest oa the public debts, haa been the subject of much comment at home and abroad. This was to be expected bet I most be permitted, in the name of the whole people of Indiana, to protest against that iadtscriansate censor* and reproach which place those who have become onatte, by unavoidable circemstaaces, to discharge their jasl liabilities, oa the same level with the wilful repodsator. It ia true, that ibit heartless osnrer is tacapafcie of distinguish ing between a blameless inability to par, and tlatfind wbkh avoid* aa honest dew. With

the latter we barve no wnnectkm hot we are compelled to rank ourselves with those who cannot promptly pay their just liabilities. We

are

borne down by accumulated burdens

and difficulties. The sources of employment and means, arising from" the disbursement of liq* aims of money which now constitute those debts which have produced so much emblnassment-^-the general prestation of ouraariculture, manufactures and commerce the infliction of a depreciated currency aateneri upon its, ontit it can he redeemed ny the slttw process of the revenue—Jow pncea and uncertain marketa in every department of hitherto profitable business—all these continue to press us down with a force that ia irresistible. To exact impossibilities, and then to affix the brand of inlamy under such circumstances, is, to ay the least, unwise. The exercise of no man's honesty is quickened by reproaches which he feels to be unmented. We are told, however, that our folly and improvidence have brought theseevua upon us, and theietore we are entitled to neithw la* *or nor mercy. That most fetal errors have been committed hy the State of Indiana, ts not to ha controverted. Seduced by the wdd spirit of «nnrovam«it and speculatron,

which

equally secured.

pervaded tt»

whole country, enterprises were undertaken whictt cannot now be jnetined. But some of those who censure in such unmeasured terms are not guilt teas, if there be any guilt. If doubt was expweeed, pur agents were told that we were a gneat and growing S.ate that our resources were inexlianeUble, ana that nothing adverse could impede the march ot our prosperity. The facility ol obtaining credit bad e»tnetf»ing tQfo with the extent the reckw operatiuns wliicli bavo resulted so disastrously* It cannot be pretended that any false pretences were resorted toby us, to entrap the nnwary and incaatioua. AU parties, relying on theiii own sagacitr, had equal opportunities of astiniating the proaahw conscquencee of the profit and loss of every operation. As to the paet, neither p-urty may complain of tho other, it is the future whwh most determine wheihrr we area faith-keeping people. As for myasll, have a deep and abiding confidence in the integrity and enterpriae of the people of Indiana, ia the extent to which her resourcta may be ueveioped, ana in the realisation of those means wnicn can and will be applied

discharge those obliga

tions, the avoidance of which will bring upon us merited aud lasting inlamy. It is not to be denied, thst men hsVe sometimes been found in our country, who, if they do not advocate repudiation, at leaat give countenance to views whWi must result in repudiation. Whether we contend that one legislature cannot make a contract binding on another, or take the ground, that subsequent legislatures have the unqualified power of annulling not only ihe acts, but the au-. thorised contracis of a preceding legislature-tn either event, we are advocating a doctrine, upon which repudiation must base its strongest claitns to be esteemed a correct principle of our institutions. A few remarks in reference to this question, 1 tnist, will not be deemed amiss at this tinie.

The Constitution ol the Untied States hss prohibiitd the several States from passing laws tinpairing the obligation of contracts. As to tneap plicabiiity of this provision in res

{Muring ihe ODiigal plicabiiity of this provision respect to contracts Setwcen individuals, there is no diversity ol opin-v ion. But the question as to whether

certainly,

applies,-

when a State ia a party, has occasionally beta mooted. It has sometimes been contended that a State, in its sovereign capacity, is not bound by the rules and obligations governing private contracts or, rather, that any law making a grant or authorizing a contract is a mere act of legislative power, rcpvalable at the will of any future legislature. But

"U« HIBl »ll« win ,iuo wTSHMi".

jy any rule of, action, but such, as

tnsy be dictated by ibe sdfiribnsss or capricc St bis own unconstrained will. The purposes of nut government are constantly fluctuating. There no security of person, or property, or of rights, as between individual and individual, or between individuals and tlie government. In a despotism the aw is in ihe willol the sovereign, and the perfection of tbia form of government conaists in the power of the sovereign to alter, fchsnge, modify and subvert every rule of action at his pleasure. To establish the principle that the legislature cannot enter into a contract which will be obligatory, and which can be impaired by subsequent legislation, is ssserting the self same principlo which inheres in every form of government purely despotic- Our constitutional forms of government, having, their origin in the sovereign will of the people, were established for the very purpose of avoiding these evils. The immutable laws of justice impose equal obligations on States and individuals, and any infraction of these principles is alike subversive of sound morality and good government.

But while we deprecate actual repudiation, let ua beware of that silent repudiation, which, avoiding tha direct act, produces the same result. Our embarrassments at home, growing out of our tieasuiy notes, must necessarily prevent us, until they are redeemed, from doing what doty requires at our hands. But we should never lose sight of our liiibnibes, nor seek to avoid, cither directly or indi-

Wctly, the demands of justice. No official account has been received of the progress which has been made in the prosecution of ^the Wabash and Erie Canal, West of Lafayette.

It is understood, however, that an important part 'of the work has been put under contract. Some •/apprehension was felt lest the Scrip issued, pursuant tj the law authorizing the continuation of. the canal, woukl not answer the desired end but it is •tbelicved that the publie spirit of tlie citizens of that ^portion of the Wabash Valley interested in the work has prevented auy serious difficulty of

barrassment. It will he remetabered that, at the Isst session of the liogwlaturr, two acts were passed, one incorporating the White Water Valley Canal Company and the otbar providing for Jetting the paUk wotka to companies. Under the former act, a company has been organized, and hss taken possession of the 'While Water Canal. Under the latter act, one company haa been organized for the continuation of the Madison and Indianapolis Railroad. Thess «Mnsaaiea do not report to the Executive, and no certain information is in my poeeessiou as to their operations hot it is understood that the works are nroaeeuted with energy aod ssirit, and strong boM* are eMturlifoed of a sucOeaafgl teumHrfion.

Tlwte iii a Nljtd which the Constitution has most wisely slid appropriately ceofided to legislative control ami supervision, and to which I zan net too earnestly invite your attention. I allude to the establishment and support of a system of mmhm school*. Perhaps no theme in all the wide range of discussion has been more elaborately discussed than this, aad perhaps then is no question of policy about the leading features of which there exists, such general uoanknity aod yet, strange to say, no good work has been nose sadly negte ted. The proper education of our youth appeals to eveiy energy which patriotism, jihilanthropfay.morsU sad refcgKMM?mn pot forth in its behalf As the foundation on which all ef oar present and future political security rests as a qacetkn of individual happiness, as libs shield of our national parity end morality, it is beyond and above all otbea in magftitoile end importance.— Properly and thoroughly dispeoasd, there can be no uouht bat the administration of our lepohhcaa form of government woold abound in alt the advitatages, with but few of the evils, of ndi asyatesa, while he exisienee would be perpetuaL The occasional outbreak of lawless foetiou the ephemeral rise, and dangerous influence ef the denmgofne the instability of leading aarssures af aound po6ey the Iwtler and trafBeef selfish legislation--each of theee evils which, it most be conceded, lave CTfaswfl, to some extent, a degrading and corrupting iofloencs on our happy form ef goteuuueut, woiald, in tbt event of a thorough system of education, g^ve war to an almost universal obedience to the returnanii ef the lew, the elevation of poblie patriotism, and a ataMe and honorable

The aom of haniau lisp pit was would

thus be as incalculably increased, as the is cupsbfcofincalcalahlehnprovsment. Iawandmt ^U«n ef edncatkn, and it is the only land to he tulsrUisJ, whkh is insepsrsMy Mended with the

totibe luffo.

iutofe, I have .net expected to ptuaent now views,

t» suggest thooghtsmorainspini* than

if the contract exists,

can

make no diflerence whether iris made by a taw ot the legislature or in any other mode. The obligation to fu'fil its requirements is mutually binding on the State and on the individual, and is protected by the Constitution of the United States trom any interference, on the part of the legislature, impsiring its binding force. There is noihing in Hie .^sovereignty belonging tea government from which the principle can ba derived to defeat any rights liicn may hove vested under a contract made in pursuance of ft law of. that government. A government which might disregard its authorized obligations would exist in violation of every principle ol justice and morality, and contravene all tnoae notions of right and wrong which, ns we have been taught, constitute the very foundation of our free institutions, and from which arise those wise and wholesome restraints, by which all oar rights are equally secured. Where the government is purely despotic, it is true that the wul nf the soverei|

natuts!*1

ly present themselves, in view of so momentumi a sobject nor bevel taken it for gantodthat nothing has been done in this weak by the Legislature o! Indiana. TMHiidiwto the truth woA to tlm subject to say, that while we have had muc^Jeclantationto the peo^ fetd mnch orfapMI amart in this respect while a great dual hasheen epokeo and written, and IcgulaMI in refcseoee. to common achod% very Rule that ia practical hasbeen accomplished. Our school' laws area maas of complicated staiatory provisions, presenting diffieultiea en to the msciidined kgtd mind, vriudh srs almost tormnaiyi insuperable lathe CftfSSOr

Themschinery

of the ay stem is entangled and interwoven with burdensome provisos and qualifications and the sooner thess aye ramedii jdain legal provlsiona and the substitution ef a ampler orgsnizstiQU of district schools, the more speedily wiu we advance in thiaeause.

On thissubject, previous Legislsturcs have been groping tbeir way in the dark. Indeed other matters, supposed to be of more immediate interest, have swallowed up every thing else which did not at least apparently oonnoct itself with the momentous questions which were exciting the hopes, and exercising the energies of men looking only to Ihe accomplishment of their stupendous projects.— While millions were lsvished, sye wasted, on mcasures which have literally cniahed us, the less exciting subjects of common schools has been almost forgotten. But let it be remembered that we may construct canals and raihouds, and footer commerce, and cherish our agricultural interest, and secure advantageous maikcts, and may obtain alfthat these various objects srs capable of accomplishing, and yet, by neglecting that moral and intellectual culture which lathe ressultofan efficient system ef education, the very foundation of our social and jtoliUca! imrtitutians may b^r^ing aqd ^HtU r-

"I'he Auditor of State h#abestowed some'sf&totion on thf condition of the school funds during the past'year, not that there is any law imposing such a duty, but merely with a view to enable the Executive to point the Legislature to the necessity of giving the subject most thorough consideration. A circular was addressed to the various County Auditors. Answers have been received from fifty-eightcountica, and are, in many instancee, necessarily defective. The returns from a portion of the counties show their school funds to be well managed. In other* they may be safe, but the accounts are in so much confusion, that no correct opinion can be formed. In some cases the whole fund has been totally, irretrievably lost.

The result of the investigations prosecutcd by the Auditor of Slate will be laid before you, and will exhibit much valuable matter. Where no answer has been received from a county, such other sources of information have been resorted to as seemed the best adapted to the purpose of obtaining the data requisite for the presentation of a general statement of tlie various matters connected with this most important aubject The following particulars, gleaned from the Auditor's report, are not only interesting, but will enable the Legislature to judge of the value of our school fund, and the necessity of further investigation!". The amount of aurplus revenue distributed to thediflerent counties is, 9738,346 Funds derived from sale of nchool lands :. 1,105,899 Value of unsold lands 425,302

Total value school fuhd of State,' fiS,254^97

Interest on the above sum, for the last year

$146,298

Interest distributed 94,436

Unaccounted for 51,862

It appears, from the report of the Auditor, that the number of children having aright to be ad. mittod to our schools is estimated to be 237,143. It is also stated, thot the whole number who were in school during the past year was 111,465, lesving 125,678 children who were not sent to school during any part of the year.

The number of school districts in tbs State is feet down at 8,760, and tha school houses at 8,151. One msttcr contained in the report of the Audi-

tor requires particulsr attention. During seven yesrs, from 18^1 lb 1888, induSlvs, tha value ef the lands returned by the collectors of the counties for tiie nonpayment of taxes, and appropriated by law to the benefit of schools, is $68,046. The sum returned by ths school commissioners of twentyfive counties as bsving boen collected on account of these lands, including penalties and interest, is $13,000. So far as shown, nothing aeems to have been derived from this source in the remaining counties, leaving uncollected #54,446.

There must have been more than this amount realized, taking into consideration the besvy penalty and interest imposed in euch cases. The only evidence of payments by delinquents is ths receipts given to them hy the school commissioners This constitutes the only cheek but it would be wrong to cast censure, merely because these accounts are confused and unsatisfactory. This is not intended. The above instiuice is merely referred to, for the purpose of directing the attention of the Legislature to the defects of the entire system, and to show the necessity of imposing proper checks, and requiring the frequent exhibition of all accounts relating to these funds, at stated intervals.

With reference to a specific recommendation on this sulject, 1 can only ssy to the Legislature, that, involved ss is the condition of our school funds, and indeed the whole subject, no better suggestion occurs to my mind, or more likely Ui be followed by v&luble results, than to invite your earnest attention to the task of ascertaining the amount and condition of these funds, and, if need be, to provide through some public functionary, for the investigation of these all-important frets, and preeenting the result to some future Legislature. It is requisite that the whole ground should be carefully examined, and the extent of our resources fully known, for the purpose of determining whet additional means are necessary to impart life end efficiency to our common school system, and give form and substance to what has been, under the l«st directed efforts, but chsos and confusion. It, however, will accomplish but little to direct enquitiec with view to ascertain the present amount aid condition of our school funds. The unofficial invsstiptions already made, ahow enough to establish the neccssity of searching for funds which have been misapplied^ or apparently lest, and of tracing their history, from the time they fin* cams Into the hands af the agents entrusted with their management. Ins neighboring 8tate, whose school funds been placed in the hands of officers not subject to a strict sccountsbility, thorough investigation was proposed and exfcuMd $ and the consequence wa^pme recovery of very considerable earns, which had been overlooked, ^or forgotten

suppooed to be entirely lost. May we not anticipate ssfevorsHe result by pursuing similar course ia our own Ststel It certainly is worth white tb try the experiment.

I have thus presented my views on this sllun* portant sabject to your considention. I sm not disposed to be tenacious ss to the propriety of any panieular course. Others have their peculiar Views, and I will si ooce yield to any msssores which premiss to be usufiil aod efficient. 8e many notions srseatortaiaed asw the bsrtmodeOf organizing common schools, snd so much sensitiveness is winced respecting those notions, thst it »most dHBeult to secure harmony of sentiment *?sadsctien. fa tins matter, something, and often modi, must be given up to the visws sad ophikms of esch other. No system of educstioo csn bs digested without compromise end he can hardly be wlwinwd a real friend of common schools who would tueke shipwteth of all their advantages to cany a fevurite position.

It eflbrds ms gw*t pi seems te eonunaakate to the Legislsture, thst the sffiiirs of the 1 Brians Univemty presents more prosperous sppesranee than Hm bsvs exhibited for several yesrs. Ths recent efforts to give uffitisfy to iis rrgaarssi*«a, promise te be em«nen:ly successful, snd i»secur* to the Stste the fall benefits of its ample endowments. In die supervision of this iastirutiea, ihe ua*baa a mos« important trust. To mmk**** tensively ueefu» to preserve no sad rsadeg them pasduetive. and r« extend its reputslien^osa siitute the pieuiinsnt outMoef ins trust, waamt. fsithlully executed, mnst add to the ehareersr im

^leCiliivostCrswfordevHIe,flMMMMf goBih Hanover hsve beea lueisised. durmg the Mat veer, with a ami aod spirit worthy (he mBLyLf iforu which esnihfiahed rhast hwtifulSaaa. •nwursaanaeuf die times, whwh hssherte sohetnly on every thing efos, has isnehsd dtans lam sevWy ihas wasaaucipated. Thetr ftieadTsnd ,«mnshsdmaciictssetofesrthefaBrft htrt,cerI uhdy, the crisis msy bsregardsdsspsst. Itiacsdersend thst ths present natiai have ontmuinuJ «nder themsn lavotaMe ampin j, snd the perma

nence and uaefulnsm offbeat Coilefmjaay he regarded as Maaad aa a fry and endarmB baa At the last ssssioo of the Legislature, aa aet was, psfted reqeiriag ths Ooverner to make arrsnmtnen:sfn the erection of a new pemtentisry. The same set required the supe«ntendenw_mtliejiresent priaoa teconfae the eonvwts at laher wHhm iis sails, oontrsreto the previous rustom, w«n an arrsngsmeat itmld he made by whidt ibey oould be emplofed ia the tuilding the new prison. TbTconBwd limits of tbe old pmon jwre euch, that but few more thaa helfjhe whole anm-.? ber could be eumteyed srlsbar within if. Mowing, moat eonclssivHy, ibo necetsitf nf the IsW suthorising another prion* to be built. auitsbls site hss been proeuted, a phm far tbs buddtegs adopted sods portion of Ihe oanvicta havs beeneusptoyea in their erect ion for several moaths. The mans, spscificatkms and nther ins item esaataiad .marcwith, being two.voluminoiisjo be oomprisad (his commuaicstien, will be lain before the Legislature in snother form in a few days

The report oftbe Visiter mi been unavoidably delayed, and I am, therefore, uaabletolay before mu, at pment, the asnal statement in respcct to tlie condinonof rtie fenHeniiary.

The State Bank of Indiana rrvumed specie payments on the 15rh of June of the preormt yesr, pur*usnt fo a resolution of the Iset Legiristure. It us feet deserving attention, that the princips! demend for specie, subsequent to the ress*iption, was .• from abroad iboa exhibiting, ia ihe clearest msaner, the genersl confidence of our own cttisens in the solvency of tlie Bsnk. The times ware enpropitipus in many reeprcts, but tha fisnk has been well sustained thus fer, snd there ie no room to dnubt or fear for the Inture, under ordinary eireumstances. Of previous suspensions of specie pay* mrntf, jt is necttenry to rprak, but 1 cannot let this opportunity mm without expressuig my decided conviction, thst, come what may, the Bank should pey out the {fist dollar nf jtstpscie, rsthsr, than suspt nd again. To Be vieillsiing, year after rear, hetwecp sunrnsions and partial resumptions, is suhversirs of sll those principles on which sound' bankiaarea*s.

The following tablseexhibiis tlie general condi* tion Of the'sfiairs ol tbs Bsnk, iashownOn the 31st of Octohrr, A. D. 1848.

MEANS.

Discounted rictes snd Bills ol Exehnnsc. Balance due from, and notes of oth er Banks, .v Specie, .v. t.iher rraourcee,

Notes in circulstion, #1,739.518 00 Individual Depositee, 181,248 98 Ba!anceedue other Banks, 69,718 52 Other liabilities, exceptthoee for tlie etock-

In the Court

$-1897 ,917 II

and its profits, (19,678 68

Balance, be'ng amount of State snd Individual stock, and profits there-

844.7T7 75 799.047 96 1,316,880 93

85,258.563 04

LIABILITIES.

8,053,964 18

3,905,198 86

Reduction of circulation Isst twelve mouths. irl ,907^896 00 Specie on Oct.30,184t,f 1,127,518 60 PptcieonOci.31,1842, 799,047 96.leduc:ion of spccie, laat twelve months, 328,470 64*

It will be seen that her

ft'

85,258.563 04

Tlis exhibit shows a change in her condition from that reported to me, and set fotth in ray laet annual message, as to her cites lation and specie, ae follows: Circulation on October /f 30,1841, 92,940,414 Circulation on Octobefj 31,1844, 1,732,518

mesus are, 85,258,563 04: '..And her liabilities, to sll others, except the .•

Stste and Individual :s Stockholders, 2,153,364 18

Showing an excrM of mesns, over «•.. sll her liabilities, to others than Stockholders, of $1,205,198 8«

The reports of. tlie Treasurer gnd»Auditor of Stste sre herewith laid before yon. They exhibit iii ihe USHSI msnner, the atatements of those officers respecting the receipts, eapeaditurse, and condition of

tlie revenue. The principal rastter connectetl with theie subjectshsO aiish Biimuted In mp-«ep|, marks and auggesthxie rslaflve to the Treasury** no tee. It may not, iiowever, be iiapntoar to re-^* mark, that, for erveral tnontba past, almost the onlylmeans under the control of the Treasurer, with which to psy ths sslsries of the publie officers, and discharge the other expenses ol the Government, liave been treasury notes, occasioning a heavy losa to those to whom they hsve been peid, on atooarit' of their depreciated value. -a 8ome mors lenient provisions are neeeeaary in, reference to the forfeiture and sale of lands, for thei non-payment of taxes snd psnsltiss snd stso th« asla of lands on mortgages givsn to the Ststs on sccount of various trust funds. The advertisements,? with which the newspapers In many psrts of ths*. State srs crowded, as respects both tlwse matters, show, without doubt, thst relief ie necessary- A large qusntity of Isnds, if something is not doriei in the one esse, must change owners oa uneertsin tax titles snd, in the other, the Stste will, become,.* whet eheought not to be, an extentivs holder ol' real estate, taken from her citizens.

I Imve thus endeavored, in ae brief a msnner ss possible, to lay before you such matters, at »t oc-f curred to me, woold demsnd your particulsr cottv sideration. The history of tM laat few years po# "cmts but few attrsciions, snd our visions of the future sre not of the briglueet or moat cheering cliaractrr. Stilt there is no ground for despondency. Our State is young. We pottem a fertile country

pirison, tiie magnitude of our present embarrassments. II we but make the proper efforts, relief will come to us ere we sre swsrs ol it. Witbsocbcountry and such a populstion as we hsve, if wa srs true to ourselves snd honest with the rest of the world, we must finally triamph oyer ail our difficulties ..

Representing different eeaftttuehcies, and easting direcily from them, you am well informed of aU iheir wants end neceesitiee and it will at sll tlmea aff»rd me the moat eilieere pleasure to unite with the Legislature hi all measures crlculated te give just relief to the citizen, and te advance Mm boaor

Rcvor.tmo»risr

6 0 E

Exi.ctrrivE Chamscs, Dec. 6,1842. LV

Afwaxm*.—lt

is wsll rem em

beied iliat a rewardeffSOO wsseflecsd for ths hs«d wf John Hancock. When be signed the Otclarstioa ol Independence, be did it with bold bsnd. ia coneuicuoue msnner, and rase from his tear. P"**"'ing to it, snd exdeimed—MTbete, John Bui. reed my name without speetacics he may double his reward, and I putbfinat dafiaoee.

When I visited Mr. Adaats, hi November, «IWi Wl. aaaiaai iwvuissaw s«av| his hand trembled similsr ^e Stephen Hephins, ttw Qitaker pairtot, from Rhode Island, who had been sfflieted with a paralytip«nAs. 3lr. A^uas aMM. as bis amsnuensis. snd stlud bimjf

hs should sip8»

his name to the Declsration of lndspeadense lor him. He replied—"No! {will eien it myaefl if -we are hting for signingit, yea shall sot be bang for signing it for me."^

Mr- Adsms, then, in inttmatibn of Hopbine, took Ms pen clsspod his wrist with his' left Rand, want through the tremulous motion of signing bianamdj, and. va

the language of Hspkina, smphstk^lr said —"If my band trembles. John will w« find J» heart woni which Mr- Adsms aald, deeirined sll Congress, sad msde the most timid firm ia thair parpase.?*» yj,-U

SBfTTtKC* or COLO^KL WKBB^—Th^ New York American of Saturday marks.

9r«es AccfasT—IntdligsncB rcached as year tHriay, ssys ths Cincianati Oaastta, af Sstardsy, thst the smge wss apast assr Wbsaliag, aad that Mr. Wldts, msmber of Congrats, ef Mists, ksd bis armhnAea in three plasm, that another mem bsr wae seriensiy bus*, aad a AW ao badly infewtf t^thisliffwasiesBfiredoC

Btaatona this morning, $. W

Webb was brought up from ths Tbmhs, wbate ha hss been imprisoned sines bis plea af 9«tl^aad sentenesd to tsspen, imprieoamoai la the Stale Prison, the shortest time allowed fey tbs ststate.

We eedetstsad an alesost immeasuishla roll df

petitions went up tost evening to theCesaooi, Mk» Webb will not, we presents, rsmossd from tha Tombs until the Govenor^sdedeioe ahall be known. We cannot anticipate that la sash a east, and with euch Strang applications tor pesdaa, the Governor ech hsve much beaitstioa abnat giaatiag it

Since above was to type we learn that a Pardon from the Governor bad been re* eeSted had Cb(. Wtn aet at fiberty. The ^ifenMr has given hi* reasons at length for graoticg the pardoa.

f£

»rl

!t 7