Western Sun & General Advertiser, Volume 12, Number 51, Vincennes, Knox County, 19 January 1822 — Page 2

257,322 5,558

Viz : Reimbursement of deferred siock Residue of Louisiana block Making tne amount of the public debt, unredeemed on the first of Jan.

1822, as estimated 93,423,605 The treasury notes yet outstanding are estimated at 23,495

26 15

The awards made by the commission

crs appointed under the several acts of

congress for the indemnification of certain claimants of public lands m the Mississip

pi temtory, amount to O; which there hac been received in the genet al land office in stock And there have been paid at the tieasury

4,282,(51 12

2,442,535 39 1,734,490 85

or to the first of January, 1817 5,108,097 52 Naval service, including the gradual increase of the navy 2,455,410 27

Making together 4,177,026

And leaving outstanding on the 30Ui of Sept. 1821 105,124 88 3. Of the Estimates of the Public Revenue, and Expenditures for the year 1822 The diminution of the revenue from imports and tonnage, which occurred in 1819, advanced with progressive force through 1820, and reached its lowest point of depression in the first quarter of the present year. The duties secured in that quarter were S727 000 less than those of the corresponding quarter of 182 ; whiis the amount secured in the second and third quarters exceeded that

of the same period the preceding year by g l,i 72 000 : thus presenting on the 3oth of Sept last, an aggregate excess of 8445,000, for the three fn'si quarters of 182 1, which sum, them is just reason to believe, wiil be co isiderably augmented at the end of the year Whilst the duties have progressively increased, the debentures chargeabiv upon them have consideiably diminished; the aniOii it of debentures issued from the first of Jan. to the 30th of Sept. last, being 932,000 less tnan was issued during the same p jriod of the preceding year The same causes which, in 1819 & '20. effected so grea. a reduction of the revenue arising from imports and tonnage were felt in an equal degree in the sale of the public lands. Those who, from an anticipation of their resouices previously to those years, were unable to purchase foreign merchandise, were equally incapable of purchasing public lands, or of discharging debts contracted with the government by purchases antecedently made. In the annual report of the treasury at

the commencement of the last m soon of

congress, the receipts from the public lands for the year 1821, were estimated at A 1, 6)0,000, if no chancre should be

made by law affecting t' e obligations w hich the purchasers were then under to b punctual in their payments. But at the close of that session, an act was passed for the relief of the purchasers of public lands, which so far impaired that obligation as to induce the committee of Ways and Means to estimate the proc eds of that source of revenue at only g0 ,000. It has been shown, however, that the receipts to the 30tn of Sept last hive exceeded $940 000; and those of the whole year are now estimated at 1,300.(1 o dollars I i result in relation to the public lands and the improvement u hirh has taken place in the revenue arising fr om imports and tonnage, indicate a favorable

change in the condition ot the nation; fr m which a progressive iucreasi of the public revenue may be confidently ami cip itcd. Independently, however, of any such increase, tin- tacts disclosed by the fiscal ope a'.mns ol tne year, some of winch have been enumerated, warrant the conclusion, that the receipts of the year 1822 may be estimated at S ' 6, 1 0,000 Viz :

Customs Pubiic lands Bfik dividends Arrears of direct tax and internal duties linnet s recovered out f advances made in the war department before the 1st of July, 1815 Incidental receipts

blc, howevtr, than an increase of duty on 1 to taxes, of the county commissioners ot

some of those ai tides might eventually Vigo county.

Amendatory to the act respecting tho limitation of criminal prosecutions.

Authorising and regulating the writ of

cause a reduction ol tne revenue: out

this can only take place where similar ar-

tides are manufactured in the country.

1 4,000,000 1,600.000 350,000 75,000

60 000 25,' 00

The expenditures of the year 1822 are estinv.-ed at g I 4,947,661 80 Viz : Civil, diplomatic and mis ecl'am ous 1 f4,297 Pub i debt 5,722 857 Oi TU'l-Mrv sevicc, including

lorn tic at ions, on! 1 mine e,

India i dcpai t ncnt i r lu'ioa-irv yt I niili:

p-:nMM" t oitng tl: 'tilitia, and ancaiages pri

ory

The receipts of the year will therefore exceed the estimated expenditure by 1,162,338 10 Which, after discharging the difference between the balance in the Treasuty on the 1st of January, 1822, and the balance of approprations chargeable upon it, will leave in the Treasury, on the 1st of January, 1 823, a balance estimated t &671, 375 50. It is, however, proper to state, that, in the estimate for the naval service, only 8200,000 of the annual appropriation ot 8500,00 for the gradual increase of the navy is included ; but that, of the amount estimated by the Secretat) of War, a sum larger than the balance of that appropriation is for arrearages for revolutionary pensions and the Indian department, w hich will not be embraced in the istimates for the year 1823. The expenditure of the two succeeding years, it is believed, will not exceed that of the year 1822, unless a further expenditure shall, in the intermediate time, be authorized by law. But, in the

expenditure of the year 1822, and also of

1823 and 1824 no part of the annual appropriation of & 1 0,ooo,ooo constituting the sinking fund, is comprehended, except what is necessary to discharge the

interest of the public debt, and the reimbursement of the six per cent, deferred stock- On the 1st o! January, 132 J, and the three succeeding years the debt contracted during the years i8i2, i8i3, i8i4, and i8i5, becomes redeemable at the will of the government. These sums great

ly exceed the amount of the sinking fund

applicable in those years to the redemption of the public debt As the current value of the five per. cent stock, created during the last and present years, exceeds that of the sev en per cent, stock, and of

the six per cent, stock of i8i2 and 18i3 it is presumed that the holders of those

stocks will be disposed to exchange them

for an equal amount of five per cent, stock

redeemable at such periods as to give full

operation to the sinking iund, as at ptc-

seut constituted. According to this view

of the subject. g24ooo,ooo of the stocks which will be redeemable in the year 1825 and i8 26, may be exchanged for five per cent, stock, redeemable, one thiid on the ist of January i i83i, and one third on the same days of i832 and i838. This exchange of six per cent, stock, if efftcted on the ist of January, i823, will produce an annual reduction of the interest ol the public debt, from that time to the first mentioned period, of g240,ooo, and

m aggregate saving, through the whole period oi g2. 160,000. If the whole of the seven per cent, stock should be exchanged, the saving will be considerably increased. If such an exchange of stock should be deemed inexpedient or impracticable, a saving of equal, if not greater extent, may be effected in the years i825,i826, i827, and i828. by borrowing, at the rate ol five per cent, in the first and each successive year, a sum equal to the difference between the amount redeemable, and that portion of the Sinking Fund, applicable to its redemption; the five per cent stock, so created, to be redeemable at such periods as to give full operation to the Sinking Fund, until the whole of the public debt shall be redeemed. If the live per cent, stock shall, duiing those vears be above par, a saving be)ond that proposed to be effected by the ex change of stock in i822 will be secured, to tne extent of that difference, by the latter process. lint, it is possible, that the progressive inci ease ot the revenue which has been

anticipated, and which is necessary to the full operation of the Sinking Fund, may not be realized. In that event, the pub lie expenciituie authorized by law may, alter the ibt of Januaiy, i825, exceed the public revenue. The remedy m such case must be ist an increase ol the public revenue by an

addition to the existing impositions; or,

2d, a reduction of the Sinking Fund. First. A general revision and correc

tion of the duties imposed upon forci

merchandise seem to be required Ma

ny of the articles which pay but fifteen

per cent, ad valorem, ought, in justice

as well as policy, to be plaa d at twenty live percent, which is the duty paid up

on the principal articles ol woolen and

cotten manutaeturcs. 1 Jic same obseration is applicable to some of the articles which pay twenty per cent, ad valo

rem. A corrtctinn of the existing du es, with a view to an increase of the pub

lie revenue, could hardly fail to effect at object to the extent of neatly 1 oo,-

000 dollais annually. It is highly proba-

In that event, domestic manutaeturcs : replevin.

will have been fostered, and the general ability of the community to contribute to

the public exigencies will have been proportionally increased. Second. If it should be deemed expedient to reduce the Sinking Fund, in preference to the imposition of additional duties, it may be satisfactory to know that an annual appropriation for 'hat object of 8,000,000 dollars, commencing on the first ol January, i825. will extinguish the whole of the public debt, of the three per cent, stock, in the year i839. The Sinking Fund be reduced to 8,000,000 dollars, an exchange of 36 000,000 dollars of six per cent, for fivfc per cent stock may be effected in the courseof the year i822, if the present price of the latter stock should continue, without diminishing, in any degree, the operation of that fund, in the redemption of the public debt. Such an exchange would reduce the interest annually 36o,ooo dollars. The loan of 5,000,000, dollars, which was authorized by the act of 3d March, i82i, has been obtained at an average premium of nearly 5, 59 per cent; upon the issue of five per cent, stock, redeemable at the will of the government, after the ist of January, i835. All of which is respectfully submitted. WM H CRAWFORD. Treasury Department, JDecembn 10, !82i.

To the Citizens of Knox County. FfLLow Citizkns. -Having just returned from the eat of government, it may be acceptable to some, and expected by others, that I should inform them something of the much that was done by the last General Assembly And in order, measurably to gratify my constituents and thereby to discharge what may be considered a duty, and which to me is a pleasure I shall, in my usual laconic manner say a few words. The ses-ion Commenced on the 19th

of November lilt, and closed on the 3d instant forming a peiiod of forty six days, in which time Ninety five Acts and Joint

Resolutions were passed, as may be seen

by the annexed List.

That I may have erred, I admit, and

who amongst us is free from error ? But

hus far I can salely say and conscientiou

sly boast, that uninfluenced by selfish

views or party motives I done all the good I could, and as little harm as possible that I acted, with much assiduity

both early and late, as your representa

tive, in an honorable and becoming manner, and to have acted in any other, I con

ceive, would have been disgraceful to the

people whom I had the honor to repre

sent.

The choice of maj. Beckesas my col

league, was a happy one ; and I conceiv e

it a duty I owe that gentleman, and you, my fellow citizens, thus publicly to ex-

press my satisiaction with ms maniy deportment and becoming zeal in yours,

and the general welfare I am, fellow citizens, your obliged and humble serv't.

G. W.JOHNSTON. Vincennes, Jan. 8, 1822.

A list of the Acts and Resolutions passed

at the last session of the Indiana Legislature. An act repealing that part of the joint resolution of the former session, which made it the duty of the Treasurer to keep a detailed account ot bank notes paid in. Legalizing the proceedings ot Christopher Harrison as one of the commissioners at the seat of government. Appropriating g2 l.2oo towards the payment of the public debt. For the relief of Jeremiah Lockwood. Appointing Jeseph Collett a commissioner in the place of George Evving, to locate the seat ui justice of Parke county. Aut'iWt i-.i:u: the Associate Judges to appoii.t a Civil k, ad interim, in case of removal, death or resignation of the principal. Respecting the sale of the real estate of Harvey Heath, deed. -

Regulating the change of venue, and

placing it uponasimilai footing, or near ly so, with the English practice.

Amcndatoryto the Circuit court act, so

as with ease and certainty to transfer judgments from county to county

For the relief of Thomas Beasley and

others. Respecting the Poor.

Providing tor a revision and permanej

system of Statute Laws.

Directing an Agent to be appointed to

select Sc obtain a confirmation of discreti

onary quantity ot land around alt splines

I o re-locate the scat of justice ot

Crawtord county

Legalising the proceedings, in regard

Respecting and further regulating the

practice in courts. Allowing Jas. Bcssc Sc John Eastburo gi5o, for reclaiming Daheman. For the better regulation of the militia of this state. Authorising the exactmcnt of further security from certain public officers where the original removes, becomes insolvent, or insufficient. Attaching part of Washington to Owen county. Providing for the collection of fines by replevin for 3 months, and justices furnishing lists to county commissioners. Repealing the act declaring Little Pigeon navigable. Directing the Agent at Indianapolis to lease for ten years a quarter 3cc. of land at the falls of Fall creek to John McDonald and Wm McCartney, for miils. To amend the several acts respecting public roads, Sec. Providing for the election of president Sc directors of Monroe county Library. Allowing R. Gray & R II. Murray, S5oo in addition to their contract foHjVi.1ding the state prison. Attaching part of Switzerland to RipIcy county. Attaching part of Posey to Gibson. Appropriating 8100,000 of the 3 per cent fund to the opening of roads. Providing that costs may be replevied pltff. pay casts where deft, is insolvent, and deft, pay none where he succeeds. Providing for Judicial Circuits, 5c fixing the times of holding courts. Providing for the location of the seat of justice of Union county. Establishing the office of Attorney General, and defining his duties. Respecting counterfeit money. Authorising the re issue of gio,ooo Sc isaue of gio,ooo, in gi Treasury notes. Repealing so much of the joint resolution of the 28th Jan. i82o, as made it the

dmy of Collectors to receive current pa-

paper trom and alter the iirst of Febiuary next.

Providing for additional Trustees of

the State Seminary, Sec.

Authorising the governor to employ

counsel to have issued from the Circuit

court of Knox, a writ of quo warranto a-

gainst tne Uank ot V incennes.

For the relief of W. H. Ewing. Legalizing the election of Trustees for

the county Libary of Sullivan, Sec

ror the sale of the Seminary Town

ship in Gibson county.

to the navigation of the Wa

bash.

I'o establish a permanent road from

Levenworth on the Ohre-to Terre Haute.

Attaching the county of Wabash to

Parke and Putnam for certain purposes.

To amend the one respecting Public

Seminaries, Sec.

Authorising the infant heirs of Henry

Hickey, deed, to lay out ceilain monies.

Dividing and forming the state into

Congressional distiicts.

Establishing a Ferry to John FichIL

below and adjoining Jeffersonville.

For the rebel of Ann Ludlow Supplemental to an art providing for

the incorporation of Towns.

Amendatory to the act respecting Di

vorces

Amending the several revenue acts. Amendatory to the one for the settle

ment of estates.

For the relief of the Agent of Pike

county.

Authorising called sessions of the Cir

cuit coutt by the Associates in criminal

cases, less than capital. To continue in force the supplemental

act lot ating certain roads. Sec.

I o amend the one defining the duties

ol Constables.

Respecting County Libraries. v To provide for the distribution of the Laws and Journals. Amending and confirming an act regulating fees. Authorising the Agent of Indianapo-" lis to lease a Ferry. Supplemental to the one to prevent waste on lands reserved for Schools and Salt springs. one respecting crimes and punishments. Making appropriations for the year i822. J01XT RESOLUTIONS. A joint Resolution authorising surh of the committee as attended at Corydon, to report on the subject of Education. Requesting an immediate sale of the lands lying in the Tane-IIaute District, to encourage emigration. M-aiiing the puic of holding the occasional elections in Corydon. Confirming the line between Indiana and Illinois.