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issue of treasury notes, which is in effect fidence and support at home. To insure a loan for a shorter term-without re- this, there must becourse to direct taxation, or any other 1st. Exactness in the estimates. mode of raising during the year the means 2d. Regularity and economy in the disof defraying the years' disbursements
bursements. the securities of the United States must And 3dly. A sufficient amount of direct go much lower.
taxation to meet the interest on, and to The extraordinary appropriations thus provide a fund gradually to extinguish far made and contemplated amount to the principal of, such loan. above nineteen millions of dollars. That Upon these conditions, the latter being is to say, the law authorizing the employ: not the least indispensable, money, it is ment of 50,000 volunteers, also anthorizes confidently believed, may be had as the disbursement of ten million dollars. needed by the government, provided There have been voted two millions always, and that is a sine qua non,
the additional to the army estimates for the country shall be satisfied that the war is increase of the regular army, which, by to be terminated as soon as it honorably authorizing the companies to be raised to can be that it is undertaken to conquer ninety men each, nearly doubles its rank peace and not extended territory—and and file—and if the bill reported from the that, although offensive in some of its Naval Committee for building twelve operations, it is in spirit and purpose only steamers shall prevail, seven millions more
defensive. will be needed.
If a contrary opinion shall obtain, and There is now in the Treasury a possible it become the general conviction, that the surplus of ten millions of dollars, (thanks, country was embarked in a career of conbe it said in passing, to the Whig Tariff,) quest and aggrandizement, no guarantees leaving nine millions, even if no more would suffice to bring forth the dollars extraordinary appropriations are made, to from the rich man's money-bags-nor the be provided for; and assuming, more- yet more precious contribution of patriotover—which will hardly be borne out by ism, equal to any sacrifice or self-denial the result if the war should last any time-- for vindicating the honor, or defending that no falling off would thereby be occa- the soil, of the country--but too wise and sioned in the ordinary revenue, it is too honest to lend itself, or its means, to barely possible that, in a time of prosper
the lust of military conquest and unprinous commerce, a sum of from seven to cipled ambition. eight inillion dollars in treasury notes
The actual state of the money market might be kept afloat without deprecia- may be described as somewhat at a stand, tion; but in time of war it would not be owing to the natural uncertainty consesafe, probably, to count upon thus keep- quent upon war.
The rates of exchange ing out more than from five to six upon Europe have fallen. Good bills on millions—which would leave from three England may be had at 8 per cent. preto four millions to be provided for, in the mium, and with a tendency downward. first year of the war, by loans or taxes. The banks here hold their hands close If the war should be prolonged beyond mainly because of the liability of the deone year—the whole surplus being al- posit banks to be called upon for the large ready consumed—the necessity for loans sum, viz., four and a half millions, of the or taxes, or both, would advance in a government funds which will be required compound ratio.
in New Orleans for the uses of the army. Owing to causes quite needless to re- In New Orleans itself great derangecall, no calcalation can be made upon
ment has occurred in business. Produce negotiating loans abroad ; the depend- is accumulating without any outlet, and ence, therefore, of the government must bills on New York and Europe are diffibe wholly upon the capital and resources cult of sale. Many bills of exchange on of our own people and country. This Europe are consequently sent here for must be taken as indisputable, and it sale, and thus contribute to keep down would be a most unwise and mischievous rates here. error, on the part of the men in power, if In the produce market the prices are they flatter themselves with any, the dull and declining. The non-arrival of most remote, expectation of obtaining the Great Britain, when these lines were loans elsewhere.
written, although she has been nineteen It behooves them, therefore, so to shape days out, occasions no uneasiness, as no their financial policy as to command con- one anticipated a short run.
FINANCE AND COMMERCE.
The state of war which has come up- portion of this trade which is carried on on us so unexpectedly, is producing its by water. That conducted over land by natural and necessary effect upon com- the way of Santa Fe will cease as a merce and operations in money. As yet, trade-ihough if, as seems possible, an indeed, it is the apprehension and not the invading American army shall penetrate reality of evil that works the mischief, the Mexican republic in that direction, but evil itself cannot fail to follow. the supplies needed for it, and the
The first direct effect of the law of merchandise which may follow in its Congress declaring that war existed be- track, will be considerable in value and tween the United States and Mexico, was quantity. on the premiums of Marine Insurances, The Mexican people are so little a comwhich for voyages to the Gulf of Mexico mercial people, and their varied climate were immediately trebled—4} per cent. and prolific soil furnish so abundantly all being charged, when only 14 was before the means of life, that less than almost paid. The next effect was in the rates of any other people will they suffer from the freights in American vessels, from New effects of a blockade. Other nations, and Orleans and other Gulf ports, as compared particularly the English, will feel its with those paid to foreign vessels, and restrictions and embarrassments more especially to those under the English flag, than Mexico herself. England has large from apprehension of capture by Mexican interests in that country—in mines as privateers. This distinction will be felt well as in commercial establishmentsyet more disadvantageously on the return and the cutting off the returns from these, voyages of our fine packet ships from and the interest on the loans made to the London, Liverpool and Havre, for even Mexican government, which are for the if they should arm themselves for defence most part transmitted in coin, will proagainst attack, the mere fact that an duce a good deal of individual embarrass. armament is deemed necessary, would at ment in England. The right of blockade, once determine shippers to prefer the however, is so well established and deneutral bottom.
fined, as one of the ordinary and accredited Distant enterprises, moreover, are sus- means of war, and has, moreover, been pended or abandoned, and there is a fear- so freely and inexorably resorted to in ful looking for of undefined evil, which times past by the British government, that shakes all confidence or adventure as to it cannot take exception to the severest the future.
lawful application of the practice on our The blockade of the Mexican coast in part. Possibly the loss and inconvenience both seas will not be without its unfavor- thus produced may furnish an additional able operation upon ourselves—for al- motive for England to adjust her territorial though our commerce with that country controversy with us, and thus be in a is not very large, it is still of sufficient position to interpose more effectually and amount to make its interruption sensibly authoritatively to bring about a peace felt. The total amount of our domestic between Mexico and this country. exports to Mexico, for the year ending The public stocks of the United States, 30th of June, 1845, according to the although they have fallen from the high Annual Report of the Commerce and prices they bore some months ago, still Navigation of the United States, was fange considerably above par. But if it $784,154—that of the foreign exports for shall become evident that large expendithe same period was $368,177, making tures are contemplated, without any coran aggregate of one million and a half responding increase of means—in other dollars of exports. The imports for the words, if it shall appear, by the course of same period amounted toʻ$1,702,936. the administration, that reliance for the So long as the war shall last, and the moneys to carry on the war, over and ports of Mexico remain closely blockaded, above the amount produced by the ordi. there will be an entire stop put to all that nary revenue, is to be upon loans and the
been most severe.
Our own has been very The campaign in India is finally closed, heavy, and I deeply regret to report that and the British arms have triumphed over Lieut. Inge, 2d dragroons, Lieut. Cochrane, the comparatively undisciplined valor of 4th infantry, and Lieut Chadbourne, 8th the Sikhs. Lahore, their capital, has been infantry, were killed on the field. Lieut. formally occupied by the British troops, and Col. Payne, 4th artillery, Lieut. Col. McIn- dispositions have been made to keep down tosh, Lieut. Dobbins, 3d infantry, Capt. all attempts on the part of the conquered Hooe and Lieut. Fowler, 5th infantry, and people to regain their independence. The Capt. Montgomery, Lieuts, Gates, Selden, entire territory betwixt the Sutlej and the McClay, Burbank and Jordan, 8th infantry, Beas, hill and dale, has been confiscated were wounded. The extent of our loss in by proclamation to the British crown: inkilled and wounded is not yet ascertained, demnity money, to the amount of a million and is reserved for a more detailed report, and a half sterling, has been wrested from
“ The affair of to-day may be regarded as the conquered Sikhs, their army has been a proper supplement to the cannonade of disbanded and destroyed, and every piece yesterday; and the two taken together, ex- of cannon pointed against the British in hibit the coolness and gallantry of our of the war has been surrendered. Conquest ficers and men in the most favorable light. can be carried no farther. Parcere victisAll have done their duty, and done it nobly. debellare superbos, was the motto of a It will be my pride, in a more circumstan- proud and magnanimous nation, whose tial report of both actions, to dwell upon pride has been transmitted to its modern particular instances of individual distinc- rival, but whose magnanimity seems to tion."
have given place to hard and grasping This is the result up to the present time. ' selfishness. It is worth while to glance at As to the future, nothing can be definitely the boundaries, extent and resources of this predicted, though we have reason to be- vast region, which, by a single campaign, lieve that the government intend to invade has been annexed to the British Empire. Mexico, and thus compel the enemy, by The Beas river, which is one of its bounconquest, to terms of peace. A force of daries, has its source on the southern verge about 40,000 men has been called for from of the Ritanka pass, in Lahoul, a Himma. the several States. The approach of the layan region, north-east of the Punjaub, sickly season will probably prevent an im- at a point about 13,200 feet above the sea, mediate invasion, either by sea or land; in lat. 32° 31', long. 77° 12'. The river then and it is most likely that offensive opera- takes a southerly course of about 100 miles tions will be reserved for an autumn cam- to Mundee, in the vicinity of which are paign. Meantime, the immense injury productive mines of salt and iron, forming, which the commercial and other interests even now, the greater part of the revenue of Great Britain must sustain from the war, of the tributary Rajah of the province. At leads us to anticipate an offer of mediation this place the river is from 150 to 200 yards from that quarter. With what success it wide, with a depth of twelve feet. From would be attended, can, of course, only be Mundee the Beas takes a course of fifty matter of vague conjecture.
miles, chiefly westerly, to Nadaun, a much Our relations with England and other frequented spot, being on the direct route European nations, have undergone no from India to Kashmeer, which, from the change; nor does the mail of the month richness of the soil, has acquired an enbring us intelligence from Europe of any viable celebrity. From Nadaun the Beas
interest. The distress in Ireland takes a wide sweep of about eighty miles from want of food has become intense, and to the north-west, and having entered the seriously embarrasses the action of Parlia- plains of the Punjaub, in about lat. 32 deg. ment. The commercial policy of the 5 min., long. 75 deg. 20 min., turns southPremier has made no progress, having been wards, a course which it follows for about in fact superseded in the Commons by the eighty miles further to its confluence at protracted discussions upon the Coercion Endressa, near the Hurreke Ghat, with the of Ireland bill. Lord Brougham had given Sutlej. The length of the river up to this notice that he should call for its considera- point is stated at from 310 to 320 miles. tion in the House of Lords.
The Sutlej river, which forms the other Upon the Continent nothing of im- limit of this newly-acquired dominion, portance has transpired. Another daring takes its rise within the closely guarded but unsuccessful attempt has been made territory of the Chinese, and as is supposed upon the life of the King of France, though on the south side of the Kallas, or peaked political considerations seem to have had mountain, on the south of which the Indus no connection with it. The Polish insur- is thought to have its source. It rushes, rection has been entirely suppressed, and with amazing rapidity, in a north-westerly the seeds of liberty which still survive direction, for about 150 miles, as far as among that despoiled people, have again Nako, in lat. 31 deg. 50 min., long. 78 deg. been crushed into the earth beneath the 36 min., at no great distance from which it iron heel of her triple despots.
receives the Lee, or River of Spiti, at an
elevation of about 8,600 feet above the sea. great scheme of the world's redemption Here the united stream is called by differ- carried forward, by instrumentalities in ent designations, but is known throughout themselves of doubtful justice, but under by the name of the Sutlej. Below the con- the guidance of the infinite and omniscient fluence its general course is south-west, God. To the reflecting mind, the words with a very rapid declivity to Rampoor. of that eccentric but most romantic of fanaFrom this latter spot to Belaspoor, its tics, Dr. Joseph Wolff, seem little more course is generally west and south-west; than the words of soberness, when he dehence it holds a very winding course to clares that he considers the British governRoopur, where it makes its way through ment in India to be those kings of the the low sandstone range of Jhejwan, and East predicted in the revelation of St. finally enters the plains of the Punjaub. It John, who will be instrumental in bringing then passes between Philor and Loodhee- the Eastern world to the knowledge and anah, and its width, at the season when acceptance of the Christian faith. lowest, may be stated approximately at Nothing is more remarkable than the 250 yards, with an average depth of seven vigor with which the British are pushing feet. Up to this point the stream is said their conquests in the heart of Asia, unless to be navigable at all seasons, for vessels of it be the ardor with which they are search10 or 12 tons burthen, and steam may be ing the globe for unexplored and habitable made available in light vessels to the very regions. A very valuable account of disfoot of the hills. The whole length oft he coveries in Australia, with a description of Sutlej, up to this point, has been estimated the coasts and rivers explored and surveyed at 570 miles, 130 of which may be said to during the voyage of H. M. S. Beagle, from be in the plains.
1837 to 1843 inclusive, has just been pubThese are two of the sides of this con- lished in London; and this is but a single fiscated territory, which lies in the forın of specimen of the similar works which are an equilateral triangle, having upon the almost constantly issuing from the British other side the Himmalaya range for its press. This great field of British coloni. lofty barrier. Its entire area is set down zation has been hitherto but slightly at about 8,500 square miles, and its ag- known: but the results of this exploring gregate annual revenue is not far from expedition have accumulated an immense £400,000. The level part of this country amount of invaluable information concernis deemed the garden of Upper India, and ing it. The volumes are accompanied by is dotted at slight intervals with large and maps, engravings and everything necessary flourishing cities. First in importance is to elucidate the statements they contain. Jalinder, situated in a tract of amazing fer. They have a good deal of popular interest, tility, amidst flourishing orchards of man- and much more of scientific value. Some of goes and other trees, and, though once a their most curious passages relate to the place of great celebrity, as the vast number habits of the savages, and to their conduct of large and handsome mausoleums in its upon coming for the first time in contact neighborhood would testify, has still, at the with whites. The following brief extract present day, a population of about 40,000. exhibits certainly a novel phase of the maRajwarrah, on the direct route from Loodi- ternal sentiment": anah to Lahore, contains a population of about 15,000, situated in an equally fertile “The reader will remember the native region ; and there are also other places, named Alligator, whom I have mentioned Mundee, Kupoorthalao, Kurtapoor, &c., of on a previous visit to Port Essington. I considerable size and wealth. "Information witnessed in his family, an instance of affecregarding the hill districts is scanty, but it tion for a departed child, which, though it is confidently said that they will be found, extremely touching. The wife had treasured
exhibited itself in this peculiar manner, was on minute survey, from their more nor- up the bones of the little one, and constantly therly position, to exceed in value any carried them about with her, not as a memento similar portion in the British provinces, mori, but as an object whereon to expend her and that the mineral and other resources tenderest emotions whenever they swelled will amply repay the energy of British en
within her breast. At such times she would terprise, provided that enterprise be di- put together these bones with a rapidity that rected with proper spirit and discretion.
supposed a wonderful knowledge of osteology,
and set them up that she might weep over Here is a vast, rich and most important them. Perhaps, in her imagination, as she region of Central Asia brought at once performed this melancholy rite, the ghastly within the scope of British enterprise and framework before her became indued with civilization. That the result in the end the comely form of infancy: bright eyes once will be good, it were distrusting Provi. more sparkled in those hollow cells, and a dence to doubt. Here, as in China, will a
smile of ineffable delight hung where, in new and immense region of the earth, reality, was nought but the hideous grin of hitherto inaccessible, be thrown open to
death.' I exceedingly regret that the mother
who could feel so finely was some time afterThe regenerating influences of Christianity wards over-persuaded to part with the bones and Christian institutions. Thus is the of her child."
The French Government, also, manifests American. From inquiries which he had considerable zeal in prosecuting scientific made at the Wesleyan and Baptist Missionresearches into slightly known regions of ary Societies, he had ascertained that the the earth. The Count of Castelnau, charged missionaries of both those societies have with a scientific mission in South America, instructions to promote such objects as announces in a brief letter published in the the cultivation of cotton among the natives Moniteur, that he has accomplished a at their several stations, which extend all journey across the deserts of the American along the coast of Western Africa ; and he Continent, which has heretofore been strongly urged the necessity of their introdeemed impracticable-having gone by ducing the saw.gin, in lieu of the rollerland from the capital of Brazil to that of gin and hand-labor, to free the cotton from Bolivia. Leaving Rio Janeiro on the 8th the seed, and the screw-press for packing of October, 1843, he reached Chuquisaca it into bales for exportation. on the 20th September, 1845, having been The death in Russia of NIKOLAI POLEVOI nearly two years in crossing the deserts in is mourned by the continental journals as the centre of the Continent. After ex- that of a zealous friend of the literature and ploring the north of Paraguay, he went to cultivation of his country. His life has Matto Grosso, capital of the province of greater interest from the remoteness of the that name, the climate of which is so un- scene of its labors, from general knowledge healthy that none but negroes can bear it. and sympathy. He was born at Inkutsk, In a population of 1,200 he found but four in Siberia, in 1796, and inherited an unwhites, and those were public function- conquerable passion for books, which led aries. On entering the country of the him to embrace literature as a profession, Chiquitos Indians, he visited the magnifi- after many years of dutiful devotion to the cent missions formerly established by the business which his father wished he should priests in the deserts, and was greatly follow. His father's failure and ruin led struck with their grandeur. He then him into literary pursuits, and for ten years crossed the Monte Grande, an immense he edited the Moscow Telegraph, which set forest, greatly dreaded by the Spaniards, the example in that country of a higher and arrived in the waters of the Rio Grande, and more manly tone of criticism. He was which, though very deep and dangerous, the author of a History of Russia, and sevhe was obliged to ford. Twelve leagues eral other works of considerable merit. further he reached the city of Santa Cruz The Paris papers announce the death, in de la Sierra, where he met, for the first his 94th year, of one who played a conspictime, marks of western civilization. “It uous part in the stormy scenes of a terrible is impossible,” he says, “ to refrain from time-M. Sevestre, a member of the Namentioning the delightful emotions I ex- tional Convention-amongst the most vioperienced, as did also my fellow-travelers, lent and one of those who voted for the in seeing bread for the first time for two death of the King. He was a member, too, years. After a stay of a month in this city, of the Committee of General Safety; was we left it to ascend the Andes, and in charged with the surveillance of the Royal twenty days we reached Chuquisaca, all in orphans in the Temple ; and reported on good health, which appears almost miracu- the death of the Dauphin. He was exiled lous after the fatigues and privations that in 1815: and returned to France after the we were obliged to undergo during this revolution of 1830. long journey across the Continent.” The The death of the Astronomer BESSEL at barometer was carried all the way, and Koningsberg, is justly declared as that of thus the level was constantly taken. He one of the most eminent savans of the age. has sent home various collections, destined An English periodical journal gives an infor public institutions.
teresting outline of his life and his conThe feasibility of cultivating Cotton in tributions to the science to which his lasome other part of the world than America bors were devoted. No one person during has for some time engaged the earnest at- the present century has done more for the tention of British statesmen and men of advancement of astronomical knowledge science. In India experiments are still in than he. His time was devoted unceasingly active progress, under the supervision of to the investigation of the heavens; and, Americans. At the meeting of the London by the immense number and accuracy of Society of Arts held on the 22d of April, his observations, he laid down the exact the general subject was made the theme of position of tens of thousands of stars, for a paper by Mr. Banks, who treated it at which he received, in the year 1829, the some length, and with a good deal of abil. gold medal of the Royal Astronomical So. ity. Among other interesting points of ciety of London. Having obtained instruinformation which he set forth, we find it ments of very great power and accuracy, stated that the sea-coast of Africa presents he directed his attention to observing, with a large territory which is capable of being extreme care, the remarkable star, 61 made to produce cotton in larger quantities, Cygni, to endeavor, if possible, to ascertain and of a quality equal if not superior to the the least apparent parallax; and, after a