The New York Herald Newspaper, January 5, 1859, Page 2

2 ‘Ast June, 1846, including $300,000 thea to be borrowed, $1,700,000. 3. To pay the interest and provide a sinking fund to pay the principal of the general fund debt, $350,000 until the old canal debt 16 provided for, and then for the same pur- pose, $1,500,000. 4. To pay interest and provide a sinking fund to pay new canal debt in eighteen years, which debt now amounts to $12,000,000, and will require for interest annually, $710,000. 5. For the support of government, $200,000. 6. The remainder to be expended ‘every year upon the canals, until they are compicted, and after that, as the Legislature may direct. ‘The whole amount of receipts from tolis, rené of sur- plus waters, and interest ou current canal revenue ing the year ending Septomber 30, 1858, was & 204 88, viz. :-— From tolis;— Erie canal... $1,791,527 98 Champiain ¢ 90,486 10 Oswego canal 3,939 Cayuga and Seneca’ canal 14/400 67 Chemung canal... 13,347 95 Crooked Lake canal, , 620 82 Chenango canal, 15,05 64 Biack Kiver canal F 4,098 48 Genesse Valley canal, . 25,651 07 Oneida Lake canal... > -2)205 32 Baldwinsville causal, “it 13 Oneida river improv 3,728 19 mcea river towing path saan Cayuga inlet... Total... From rent of From interest on current « Total The ordinary Te Fuud, and mi have been $1,078,878 91, ‘“surplu 425 9 [g1t Will bo thus seen, that for the last fiscal year, after paying the expenses of collecting, superintendence, and repairs, chargeable upon the Canal revenues, there is a deficiency of $706,574 03 of the sum need interest, and provide a “Sinking Fund,” constitutional requirements of $1,706,000. upon the canal debt alone, is adoually revenues” $993, The interest upon the General Fund nually $354,606 10. If the entire surplus reve- nue “from the canals was now to be appropri- ated to the payment of interest on the canal debi, there would be a deticieucy of $865,460 35, If the G 1 Fund debt should be included, there would be a deficiency of $712,710 74, to be provided for in some other manner. From a statement made to me by tue Auditor of the Canal Department, it appears there have been drafts made by the Canal Commissioners up to the 30th of Sep- tember, 1868, for $1,340,053 30, beyond the ability of the treasury, none of which have been paid 1 that the amount of these drafts will, in the opinion of t itor, by the Ist of January, 1850, reach $1,700,000 From another source, the estimate for the same period, and for the same object, is $2,000,000. To meet the claims upon the treasury, actual and estimated, which relate to the canals aloue, the following sums will be required :— ‘To pay outstanding crafts for work done on tho canals, and awards for land damages (partly sestimat 31,700,000 000, 000, contracted under section 3, of article 7. of the constitution. esp, 710,000 For the principal and interest on the tempor: Joan of $200,000, due Ist July, 1860......... 220,000 Estimated amount required, under the “act chapter 263, of the laws of 1858, t pay in terest on drafts and awards, the principal of which was liquidated at the Departmdnt, prior to April 10, 1858... Tot see esecever —equivalent to a State tax of near! lar of the valuations of 1857. ‘The above estimate of twenty-six hundred and dfty-five thousand dollars does not inclide all the damages for land taken for the construction and enlargeme the canal, which, it is supposed, will require $1,000,000 additional, 0,000 Will be requiaed to pay the fifteen per cent reserved out of estimates of work done under » figures prove to be correct, obligations to the upwards of $4,000,000 y exist against the State for the canals alone, (without any estimate for work © performed in the completion thereof,) a la part of which ¢ big ns have been created regurdless of that part of the constitution which provides that “no debt shall ve hereafter contr by or on behalf of this State, unless such debt thali be authorized by a law for gome'single work, or object, to be distinctly specided and such law shall impose and provide for the collection of a direct annual tax, to pay, and § pay, the interest on such debt a’ it falis due, ani aiso to pay and discharge the principal of such debt within eigh teen years trom the time of contracting thereof.”” is, without the power to create t, unless first debt has been created for canal ayment in the Treas command of those who made it; and it reqe y and deliberate consideration as to the me Bures necessa A proper to be ado, pairet! the public faith; doc under | the State of New York ever retis y and all just claims that e yy Lave been contracted by any of agents. I regret the necessity for th: financia! affairs of the State, wherein is indebtedness of such magnitide; but justice to tore that wiil be expec.ed to provide for its extun ment requires that it should be stated. From information derived from the State officers, I am led to believe that one million of dollars tor the six hundred thousand dollars for the Oswego, t dred thousand dollars for the Cayuga and Seneca, and three hundred thousand dollars for the other canals, would essentially complete our system of canal enlarge- ment, except for a portion of the Erie, where remain what ied wall benches, on which the slope or protection wall is built to secure the inside bank of the ca y removai of these has been recommended in cial reports, but it will not be neceseary for Ue immediate purposes of navigation Tum also informed that very essential advantages can be attained by deepening the whole of the channel of the Eric canal to seven feet, and by leaving the width of the small portion yet remaining to be widened at forty-tive niargement is estimated for the thousand doliars, in which und dollars for deep. the Caynga marshes. d fifty thousand dol- Oswego canal to six feet. Both ad before the opening of uaviga- vet of this partial ui at three bund: luded tw pre r sum of one he n thi ing the public works has been er on the Er ‘a to provide of 1850. largement § ¢ amount require already expended. trausp on through our State can compe Exie canal, particularly when, by its adapi purpose, steam shall! be suc 'y applied in its navi nd I cannot too strongly urge upon the Legis necesaity of devising Ways and means to accom- h £0 desirabl essary a result, If at this time other obligation the State were claiming your immediate attention, except its funded debt, and the inte inereon, the sum required for necessary constriction upon the canals could and would be by means of a tax upon all the real and personal property of the State—the honest and con od of | ‘or necessary objects of this 1 T believe th ‘eof New York aro suf. 8 thus le. y applied to rance thatthe proceeds of t i will be honestly and wis the ob juestion. In view, however, of the errone- ous estimates of the cost of the canals, and of digappointed expe 0 e of their completion, your f in avthorizing new expenditures even for 80 t, is one of trial and responsibility. J,and should not shrink from the dis an imperative duty. javing thus given sneh information as in a brief period Ihave bi 0 obtain in relation to the amount of obligations 1 reated for caval purposes, as well as approximate for construction, both for the complete and for the partial enlargement, I leave the matter where it belongs, with an assurance that you will fot fail to provide the treasury with means to met these requirements upon it. Any proper enactment having that object in view will receive my approval, whether it seck to atta'n the object by a modérate tax, spread over a term of years, or by an amendment of the constitution, or by obtaining the popular approval to loan under the consti tution, or by such other course a8 you may devise for the temporary or permanent increase of the revenue, ‘The cost of the construction of the canal basin «t Buffalo has always been kept as a separate item upon the books of the caval department, becauge it was considered j that the money 80 expended shouid be reimbureed by United States. The Canal Board have very recently me morialized Congress for the reimbursement of this money and for the repair and improvement of the piers at Builalo and Oswego. The facts et memorial ¢ doubt of the justness of nese claims ‘The receipts on account of the general fund during the ear exceeded the payments from the fund, . rom which deduct the deficiency in the revenue, as stated for the previous year 03,241 94 84,702 ance in the trea srsevcers oven ov 0$008,688 35 n of the appropriations of 1867 re- ,there was an meet the domands sury of But as a large port mained unpaid on the 30th September las wo actual deficiency in the upon it of $460,000. ‘The general fung no longer formerly, from the “surplos reven ite permanent revenue is very jnconside year ending September 30, 15 Auction duty... revenu vals, and wie, via, for the . $193,220 22 Salt duty... 68.476 91 | Fees of the Seoretar, 739 62 Fees of the Comptrol! offen 2,612 IL Fees of the Clerk of the Courtof Appeals. | Peddler’s licenses. sees Total as shown by Comptroller's report. ‘This fund has, for several years, be means of a direct tax, and snch tax’ will aga necessary in order to pay the deficieney which now exists for purposes, in pursuance of Article 7, ‘the Constitution, and the existing lawa. It to be borne = that any law which may be passed, imposing euch Should embrace whatever othar eppropriations the Legislature, in te wisdom, may make during the present on, ‘Beanio * ise of the State Department, of the Lowisla- ‘The © ture, of the Judiciary, and of the Prisons must be pail; while the Houses of Refuge, the Lunatic Asylatne, the In- Avitutions for the Blind, (or the instruction of the deaf and ; NEW YORK HERALD, WEDNESDAY, JANUARY 5, 1859. dumb, and the Asylum for idiots, aro “Ohildren of the State,’ and imperatively require tts 3 Applications will doubtless be made for other objects of acknowledged merit, which you will feel coustrained to refuse Hospitals, orphan asylums, dispensaries, medioal schools, and ‘yovenlie asylums, heretofore recipients from the treasury, are not ali in & condition to be denied the usual stipend, ‘Theso, and ali like appropriations, if made, are to be paid from the general fund, the State tax, to supply which bas for the last ten years produced the following amounts:— 1867 144 mills, , The deficiency eg . large * ons debt’ of the Cana! Department, for the payment of whic! the State must provide the necessary funds required for the completion of the canals, which you are prohibited by the constitution from borrowing, except under circum- stances that at best can be made to apply but to a portion of the aggregate amount, will indicate the necessity for economy and retrenchment, as well as for refusing appro- priations to new objects and purposes, however tueritori- ous. It is a8 much the duty and interest of governments as of individuals, when burthened with obligations, to study and practice economy. With resources’ to i our munificence, we might properly re- spond to the various enterprises and the hume- rous appeals that will claim your consideration ; but when the means required ‘to promote general or individual interests can only be obtained by a resort to taxation, we shall best discharge our duties by refusing to increase the public burthens, Indeed, I cantiot forbear to express the opinion that until the canals are completed, and the present floating indebtedness is paid, it is just and expeiient to confine appropriations to the simpiest and most econozical necessities of government. ‘There is « deficiency in the general fund debt Sinking Fond to pay the interest upou that part of the State debt hargeable mpon it, of $488:674 47, which it also becomes ssary to provide for. The amount of capital of the school fund is $2,551,260 82, which shows an increase during the year of $24,368 28. ‘The capital of the Literature Fund amounts to $269,952 ‘Uhe amount received for revenue is $16,411 01 to be distributed to academies and used for the purchase of text book, maps and globes, and philosophical and chemical apparatus for academies. The capitai of the United States Deposit Fund, being the amount received from the United States, is $4,014,520 71f the amount received for revenue is $248,767 52; which is pport of ucademies, , the State Norma! School, the instruction asses in academies, and for teachers’ insti commo of teacher's tutes. ‘The abnual report of the Comptroller wil} be laid before you at an early day. It will be found to contain informa ti ntial to a proper understanding of the flnvacial condition of his ow ra! boards with which he is associated. To that report I ask the spo- cial attention of the Legislature. The report of the Auditor of the Canal Department will puted to you, and will be found to contain information: BANKS, ‘As evidence that our free bavking system furnishes security to those who hold its circulating notes, it may tated that the entire logs under it to bill holders, re- sulting from suspension during the severe financial em- Darraséments of 1857, was but $7,989 64; while the com- munity sutfered to the extent of nearly fifty per cent of mount in circulation upon the bills of three chartered , which failed during the same period of financial ig It is greatly to u redit of our banks that they so readily and 80 speedily returned to the redemp- tion in coin of all their obligations, and have since main- tained specie payments, while at the same time they have rendered to the public ali needfui facil \. may be alterations suggested, and judicious s made, in some of the details of the present bank- em; but take pleasure in saying, that as a whole yetem is working satisfacterily acd securely—far so than any former one that has existed in this ore you his annual report, containing such ons as his experience and prastical mind «ve Jed him to observe as necessary to be adopted nt Legislature. [refer you to it as being en- COMPANIES, Som ment of the general jaw for cresting insu- Tanee companies is deemed necessary to prevent fraudu- lent prac the mode of investing the capital stock thereof. RAILWAYS. ‘The ormssion of seyerai railroad companies to comply with that portion of the act of 1860, known as the ‘Gene- ral Railroad law,” which provides “that every railroad company formed under this act sball make an annual re- port to the 2 ud Surveyor of the operations of the year endin , which report shal! be veritied by theoath of th surer or presidentand acting super- intendent of operations, and be filed in the office of the state Eng: i Sury the Ist of December in eac! has re dit Out of the power of the Engineer Department to furnish accurate statistics in relation to the operations of that large aud important interest aad proper I tind it necessary, Nely upon the returns of State Engineer and From the yaluable report ‘or, presented to the Le 8, itappears there were jons in the State, having a mount of capital stock of $74,289,458 98, of which 6 58 25, and having afonded debt of 5.40, and a floating debt, at that time, of $4,548,- 69, making a total amount expended for construction of $126,€89,690 34. OF these eighty-eight railroad corpo- rations, costing, apparently, the sam_ of $136,689,690 34, as above, only fourtcen declared dividends to stockholders which were represented by capital stock, $43,712,- ded and other debt, $24,949,481 72. State Engineer and Surveyor of have produced a result so disas. trows to this description of property, will be found in the same report, to which I call the attention of the Legis lature. Those who have made tuvestments in railroad stocks or bonds have ht to inquire whether it is not within the power of the Legislature to provide some remedy for this tion of their property in the one case, and since the directors Teall attention to a will give to it th ch a property so Is citizens, requil STATE. PRISONS. several State prisons lows: abe Total, ber of convie September, 1 (110: Cilnton, whem—Auburn, th 8, The titatior election of th cor ectors, us follow 1 an: ‘ ti Pr is oilice for th suid Th all have the ebar perintendence ¢ * pricons, and shal ts adoption rigons hat th penditure inge, Vi 1847 n 1846, 9,547 23 is mach more ra) other it is inte: ent in both respects fli the statutes re nd ty your the present Auburn for insane convicts is nd is creditasie to Christian civili nd hum | But before our imitation of others zation on system will be a “ model for the as itought to be, it will require such nge in the organic law as will confei @ cha n| the power and authority now given to the p spectors, thns putting one general in comman He should ppointed by the Governor and 3c. nate, and be reme Jor ca E cretion of the former. STATEN ISLAND) TROUBLES —RRCOMMEND ATION FOR THE REMOVAL OF QUARANTIN! Our criminal law, except in a few isolated cases, where considerable communities have sympathized with the perpetration of offences springing out of alleged popular evil, local in their character mn ad to th el h th inpbitude {lawzenjoin. Ta commission of destruction of the pro: nd the Grand ud present the rred to, whi great public offence, aud a wanto rty of the State, the local | Inquest of the people failed | offenders for trial and pun’ If, when reflection and reason shall hay place of exciternent and p: yn, thy f not render that obedience to the law withou in his pergon and p ty munity respectable, it wil rema within the constitution, a tmedy for th rk 1 Immediately after. th bwidings at the Marine | | arrest and punishment of | | taken the waries do hich no Hospital, wh Ist and 2d of September, my predecessor, on t September, acting trom a high sense of public sued his proclamation, declaring the Island in a si insurrection, and ordering the property and. sick protected by the military arm of the state. For a etate. nces, L refer the 1, which will ments connected the | The question of another and more auitahle site for a Quarantine establishment for the port of New York, thaw ch, since 1798, has been yceupied fi has on the attention of the peop ovaghnent; but no effective measures for a ¢ jocatfon have thus far been wtopted. | Efforts were made through commissimer that parpore to obtain the consent of the | Jersey for the occupation of a portion of Sandy Hook, de signed, apparently, by nature for this san | These eforts, strenuously opposed by some of « | citizens, and resisted, apon what I must regard | founded apprevensions, by the Legislature of New Jer proved abortive. ) r, unwilling to retin quigh the bope that, with a better understanding 0: duties and interests of both § a location in 1 70 advantageous and a late, nay y the consent of New Jersey, be obtained. |. Ltrangmit to the Legislature a report of the commis | sioners for the removal of the Quarantine station, and a report © them from Captain i. W. Benham, of tho | United States Engineer Corps, together with a report of the action had thereon by the Governor, Lieutenant Go- vernor and Comptroller, under date of 28th Decomber ult., referring to the Legislature a for creating flve ‘acres of iand upon Old Or:hard » between the Nar- rows and Sandy Hook, for a Quarantine establishment. But whether Saudy Hook, or Old Orchard Shoals, or some other eligible point within the Bay of New York be finally designated, I deem it of paramount and endurin: imy to the health and welfare of Staten Island, of | New York and Brooklyn, and of that portion of New Jer- | Bey contiguous to Staten island, that a permanent location for the entire Quarantine establishment should be ob- tained, and its removal from Staten Islaud carried into effect at the earhest possible day; and to the accomplish. ment of that object my efforts ‘will be directed. With these views, I recommend the Legislature to provide for the appointment of a new commission, to consist of three persons of eminent character and qualifications, familiar with the subject and with the requirements of the State, to whom the whole question shail be committed, to report a plan to the Legislature that, if approved, may te adopted early in the session, In establishing for ali time Quarantine grounds for the commerce of our own country, and that aiso of the mari- time world, I deem it right and proper to ask the con- currence and oo operation of the federal government. ‘With common duties and interests, in the preservation of the public health, und in the execution of the revenue laws, it is manifestly proper that, in determining a site for Quarantine and revenue purposes, the State of New York should consu't the general government. Nor is it to be doubtea that the government will participate with this State, in the responsibility and_ expense of providing am- ple perks and revenue facilities for the commerce of the world. : As immediately connected with this subject, I call your attention to the numerous health laws, and to the manner 1a which they are administered at the port of New York, fully believiig that there is az excess of machinery and of officiais around Quarantine, great'y inconveniert and oppressive to commerce, Which should no louger be re- quiered to bear the manifold taxes that for the last few years bave been imposed upon it. According to existing arrangements, when a ship enters Sandy Hook ‘ she is boarded and taxed by a licensed pilot; next stopped and taxed by alicensed physician; next’ hailed by a licensed steamtug, then boarded by a licensed warden; next by a licensed fumigator, then taken session of by licensed stevedores; her cargo handed over to li- ceused lightermep, again subject to an inroad ot fwmigators, and then towed to New York by a licensed Quarantine tug, and guarded on her way by licensed policeman; then she falls into the hands of @ licensed harbor master, till finally the owner is glad to shake off this swarm of oiliciais,”” at any cost; and all this in the name of the State, and for the preservation of the public health, It would be difficult to adopt a system. more inconyonient and more expensive. FUBLIC SCHOOLS. The expenditures for whe public schools of the State for the ) car 1857 are: For teachers’ Wages...... 0.66 For libraries and schoo! apparatus For colored schools...........+ 10,729 98 For school houses, sitez and repai 765,526 59 Hexpenses...... 369,027 05 ig unexpended, 188,053 56 -$3,792,043 79 purposes was raysed as follows:— Balances unexpended Crom the previous year. $140,142 40 From Common School Fund and State tax. .1,846(902 56 From gospei and school lands... 17,449 02 From schoo! district tax 11,846,542 71 Front school district rate Bilis 300,515 50 From all other sources..... Total. Number iets ; Number of school houses in the State Number of children between 4 and 21 Number of children attending the public schools. Nutuber of teachers employed within the year.. 31747 By the law of 1851, which caused the raising of $800/000 annually by general tax, the principle was established that ‘the property of the State should educate the children of the state.” ‘The law of 1856 extended and entarged the ap- propriation by a three-fourta mill tax, which has increased the appropriation from that raade by the law of 1851 to nearly $1,200,000. Under the management of the present Superintendent of Public Instruction the school system of our state is ac- quiring, steadily but surely, a Standing and reputation that will make it a mode! for others, For especial informaution iv relation thereto, I refer you to the report of that officer, which, under the iaw of 1858, changing the close of ‘the sebool sear” from 3st Decem: ber to 80th September, will enable him to present the sta- tistics pertaining to this important interest down to a period corresponding with the other departments of the State, aud not attainable under previous statues. SALT SPRINGS. Tam informed by the Superintendent of the Salt Springs that the amount of salt inspected at the State salines dur- ing the past season has been seven million bushels. This amount exceeds the inspection of 1857 by nearly three millions of bushels,and is about one million in excess of any previous year, and js a gratifying proof of the local and general benefits Howing from the possegeion of these remarkable waters. The business has been more remu- nerative to the manufacturers than for a year or two pre- ceding, and promises favorable results for the future. The State salines in Onondaga county are among the most important of any in the country east of the Rocky Movutaine, whether judged by their productiveness, their location with reference to the main channels of internal commeree, the purity of the article manufactured, or the extent to which it is destined to be carried. COAL. We have no deposits of coal within our limite. It ld, therefore, be our object to open channels and ot intercommunication with our neighboring » of Pennsylvania, for the easy and rapid. transit through our canals and over our railroads of that neces- of domestic fuel, the use of which, also, enters into ali our industrial occupations. AGRICULTURE, As fur as the great agricultural interest is concerned, I +m not aware that it seeks or needs anything from the State. Our agricultural population is happy, contented and intelligent. Should, however, that important interest require any legislation or aid, its wishes should be listened to with the greatest attention. IMMIGRATION, The total number of em'grantsthat arrived at the port of New York during the year, from January to De. comber 81, was 78,589, beltig ouly whout forty per cent of the arrivals for 1857, and twenty-five per cont of: the of 18f4, and less than during any year since ‘This has caused a large diminution in the fund trol of the comtissioners, which is created 42 commutation of two dollars for each alien rthe law giving the emigrant a five years after arrival, the commis- upport of over 860,000 persons ar- , 1854, or for such portion thereof as to ‘support the:nselyes, become nder the from inabili bie in any j Owing to the unc ‘ed to, yy whi noes elsewhere refer: lings on Staten commissioners their enpy ‘arious counties. to about $50,000 stil! due ounties for the upport of mers owe, on migrant poor, the comm: pon ail the real hell by them, $169,000, for the sus Marine Hoapital, and the and Hoepital on Ward's Island, and for the pur- nd the erection o. buildings. the Ward’s Island establishment, under arge of ts capable su- perintendent, ag an ‘eleemos institutions is not ex- celled anywhere, whether in discipline, morals or econo- report of the commiesionors will soon be laid before you, to which I necessary infor mation, in detsil, INET The Soviet in we city of New York a delinquents at the com meneement of the yer , 70. Together Since which there hi received 350. Total 3470 of whom bi "either by inden ture or placed with sin the country. } Four hundred and fit f on girls are enty-sev in schools, and in the nding to their ui) eapacities, | occupation and mental training ety paths leading to a as to fit them for r virtuous and honor *. Not a singe death has oc- curred among the during the year. Salubrity of location, thorough venttiation of the House, and the sani- tory system pursued by the managers anc officers of this society, have mainly contributed to produce this happy result. The Western How chester, had under ye. Since ita care on the let of J that time 143 boys have been re have been discharged and present 375. Two deaths hav the y Under the existing management this institution is faldiling all the no- ble purposes for which it was designed. The State cannot err by an enlightened spirit of appropriations to this class of institutions, it being far wiser to reform and instruct the young than to be compelled to bnild prisons for them as they advance in crime, later in STATR LUNATIC. during the your srgod recovered, unimproves maining Nov. 80, 99; discharged not insaw 1888, t8 openth , the asylum wed 6,398 patients, of whom have Teco- On the Mth of July, 1857, the tion of the pile of buildings was’ burn was also the asylum barn a few | ‘Iie incendiary, who @ patient sent to the ‘State at Auborn latare of 1858 appropriated 868 + reconstruction burned buildings. Ne ppropriation Wilk Be required for thi pur ition ts free from debt. it has for & uate to thd wants of such of the ineane & i to its care, and, I believe, it will be purpose of the State to nother insane asylum at the earliest period the not the treagury will warrant an expen iture for the purpose, INBBRIATRS? ASYLUM ‘The trustees appointed by the Legitlature to jovate the woepled from Ue liberal citizens acres of Janc for ite site, commenced on th 100,000 bricks been faid in the walle Of ube a Turre have deen £50,000 subteribod to the fand of the Avylamn, 2) per ding cent of which has arealy been pad. The donauens in tand by the ct zene of Bingharaton are valvod at $25,000. ‘The bullding 1 expected to cost about $106,000, Although the firet and only institution of the Kind in the commer apd as far ne Tkoow, in any oPber, toe tinea of the Incbrinte Aevintn is felt and acknowlotged by every intel ligemt ett f our State. INSITE TION FOR THR PRAY ASD Desa The Now York Institution for the Instruction of we Deat and Dumb during the past year hax educate ait wapport ed 199 woe and 141 girle, 22 of whom have recetved the benefit of iuvtrietion mi Ure higher braenes. Of those 282 were the benciciaries of the plate, tu conformity with ex: = Jaws. va! appropriations furnish the means of aup ' education for the number of pupils authorix by Inw to he selected by the Superintendent of Public fn struction, Wheo |t was thought advisable to make @ change of location, the on the Fourth avenue To tas okt Hall ‘This pro , comprising ‘ay, it 8 irty- seven acres of land, lying on the margin of the Hudson river, bas been red to , and is now held in fee, subject to certain encumbrances and restriction: 3. ‘The buildings commenced in 1653 are still incomplete and subject seme i eae ey ead in provements ve ex] ‘one-fourth of which has been paid by the State. situ. ation could be found better adapted to the objects of the institution, BLIND ASYLUM. ‘The New York Institution for the Blind deservedly re- tains the confidence of the pub! Within a of [ies ‘ae cram’ cijoining States, bas aoe ‘and from dou! ‘The institution now contains about two hundred. inmates. The teachers are selected from the pupils and graduates, and blind persons are, as far a8 practicable, employed in the household. After a term of seven years ee return to their homes throughout the State, and ex- perience shows that blind persons cam be placed above the need of public charity. inior ‘The Asylum for Idiots, located at Syracuse, under the superintendence of Dr. H.'B. Wilbur, is fully vindicating the wisdom of its founders. NEW YORK STATE MILITIA. ‘The militia, embodying 367,613 officers and men, the or- ganized ‘tion of which, comprising 17, officers and men, uniformed and equipped, is div: into eight divi- sions, twenty-six brigades and sixty-two regiments, and is in an «ficient condition. Pursuant to the law of 1858 there have been erected, or are in process of erection, arsenals in the following places, namely :—at All ly lyn, Corning and New York. Those at ing have been completed; the one at Brooklyn has not yet been accepted; that at Albany has been erected but not finished; the one in New York is in process of erection, and has been delayed by the falling of the roof, in Novem- ber last, thereby causing a Jarge loss in Cpe gresar a whether te the State or individuals depend upon investigation into the causes, yet to take place. For first time in many fhe the militia is engaged in actual service. In confor- mity to the proclamation of my essor, issued on the ‘7th of September last, two hundred and fifty officers and men, including one section of artillery, were detailed from the troops of the First division, under jor General Sand. ford, t# the Quarantine grounds at Staten Isiand, near the buildings to be erected for the accommodation of the sick emigrants, to defend the pegs of the State and the lives of the patients against all violence. Subsequentiy— numely, on the 19th of October—this force was redi to one hundred and twenty-five officers and men, who were relieved on the 3d instant, ‘The expenses for maintenance and support have been assumed and paid by Governor King. It will be the province of the Legislature to provide for the reimbursement of this money, either by tax upon the county of Richmond or from the State treasury. It will aiso be proper, in the same manner, to provide for the payment of thé troops, whose soldierly conduct and bearing have deservedly been the subject of much com- mendation, METROPOLITAN POLICR. During the past year the Metropolitan Police force has been fully organized, by the appointment of all its officers and the fuil complement of poli¢emen; and its efficiency has been such as promises s00n to render it, with the ad- dition of such improvements in its government as experi- ence may suggest, a’ mostetfective means for the mainte- nance of order and the protection of life and property in the great centre of population in which it is located. In this result the people of the State cannot but be deeply in- terested, for the rapid growth of the cities of New York and Brooklyn, which form the chief population of the dis- trict, draws thither, more and more every year, the resi- dents of other sections of the State, for various purposes connected with pleasure or business. It must, therefore, continue to be an object of solicitude, as well with those residing without, as those residing within the limits of the district, that its police government shall be effectual, not only to preserve the public peace, but at all umes to pean alford the peccssary protec- tion to the metropolis in which its principal tunctions are exercised; aud the Legislature haying assumed to itself, in the passage of the act organizing the Police district the power conferred by the constitution for the general public good, it should not cease to watch with jealous care the results of the organizution, and to adopt such further measures as in its wisdom may be deemed necessary for the better and move efficient government of the force. The Bourd of Polico Commissioners, in their annual re- port, which will hereafter be presented to you, make seve- ral suggestions for this purpose, which I ‘recommend to your careful consideration. Among these is the recom- mendation that the force be incre: in the city of New York, in order that the metropolis may be better protect- ed than can now be done with the number of policemen at the disposal of the commissioners. It would seem, from statistics which they present, that most, if not all, of the principal cities of Great Britain have each a police force exceeding, in proportion to their population, that now possessed by New York. This power to increase has, however, in the act creating the Metropo- litan police, been given to the upervisors of the several counties composing the district; and unless some imperative necessity should determine otherwise, I would respectfully recommend that the power be loft where the act has, in my opinion, judiciously placed it. If, however, the Supervisors of any of the counties com- prising the’ district should, after due notice, neglect to sanction the appointment of an adequate police force, the interference of the Legislature may become proper. ALIENS TO HOLD REAL ESTATE. Our laws forbid aliens from acquiring and holding real estate, unless they make depositions that they are resi- dents, and intend atways to reside in the United States, and to become citizers thereof, and that they have taken such incipient measures as the laws of the United States require, to obtain naturalization. In consequence of this prohibition special applications are made to the Legisla- ture. Instead of granting such special applications, which has usually been donc, I advise the passage of a general jaw, or such an amendment of the existing law on the subject as will permit all aliens, who are actual residents of this State, to acquire, hold and convey real estate at their pleasure. I do not’ think any danger need be ap- prehended from such an enactment. It would be a pro- per measure, and preclude the necessity of applications for special privileges. VALUATION OF REAL ESTATE. Now that direct taxation is necessary, iu order to sup- ply the treasury with funds for the payment of interest on a considerable portion of the public debt, as also to pay the expenses of the government, I deem it a suitable occa- sion to remind the Legislature that much inequality exists in the valuations of both real and personal estate, and that measures should be adopted for the correction and equalization of snch valuations. CONNECTICUT BOUNDARY TINE, There is an unadjusted question in relation to the boundary line between this State and the State of Connec- licut, the negessary information concerning which I have not been able to obtain; but it is a question which ought to be settled during the present session, and I call attention to it, fully believing it will receive that consideration and action which justice to our own and to our sister State demands. COUNTY TAX COLLECTORS. It has been, for several years, the custom for certain coGnties to wake application to the Legisiature to extend the time for the collection of taxes, which applications have usually been granted. Being only partial, the ope. ration 1s necessarily uncqual, and ought to be discouraged+ and discontinued, REVORM IN PRINTING BILLS, T call your attention to the large sums expended annu- ly for the printing of voluminous and non essential docu- ments, belicving that with a careful discrimination as to the matter printed, considerable sums can be saved, while all reaily usetul and necessary information can be as largely disseminated as at present. REGISTRY LAW. the earnest object and desire of every ‘ing any proper law for protecting the purity of tive franchise, by carrying into effect that of itution which provides “ that laws shall be made for ascertaining, by proper proofs, the citizens who shall be entitled to the right of suffrage.” The example of some of the older States, in which laws for the registra- Uon of voters have existed for very many years, and in which th re successfully and easily carried out, with the acquiescence and approval of every one, has led seve- ral of the other States, within a few years, to enact simi- jar 1 , having for their object the registration of all persons who are legally entitied to vote. ‘Thege Jaws are general in their character, and are 80 formed that in no case can those entitled to vote be de- prived of their just rights on account of temporary ab- sence or otherwise. Such a law properly framod is essen- ual in securing to all citizens, native as well as adopted, the proper exercise of the elective franchise. To do this is one of the highest dutics of a State; and complying, as it will, with a mandate of the constitution, I recom: mend its enactment during the present session. PARDONING POWER. In the delegation of the pardoning power by the organic Jaw, it was presumed that courts and juries in criminal cases would perform their duties cautiously, wisely and justly, on the humane principle, that if there be ‘any reasonable doubt the accused’ must be acquitted, and that no conviction will occur without due proof of guilt. It is greatly to the credit of our Judicial tribunals that innocent persons are rarely con- victed. ¢ framers of the constitution could not have intended that the Executive would, as a general rule, be called upon to judge of the guilt of the condemned, or of the severity or fitness of the sentence. These are ques- tions for the Judiciary, except in extreme cases; and in the exercise of the pardoning power it is the duty of the Executive to act upon these principles, Nothing wij 80 certainly deter from the commission of crime asthe certainty of punishment. The great pur poses for whieb punishments are institute! demand ft, certainly so far as their design is to operate aga warning to others and a reformation of the offender. Neither js attained unless punishment surely follows the of- is of suillcient severity to warn others against ne dangerous example, and if” possible to improve and amend the criminal, 1 thet the pardoning p that ex parte applications for executi frequently made will be viewed with disfavor, and that when a conviction for crime has legally been had, and is not shown to have been improper, Uke offender must expect punishment ng bis just reward. I have reason tw believe that for some classes of offences under our criminal code tbe terms of imprisonmtent onght torbe shortened, and that greater discretion should be given to the courts for wat purpose. I commend the subject to the attention of the Legislature as one entitled to careful conzideration. TH RXCISR LAW, ‘The exiating law for the enle of intoxicating drinks, and the prevention of intemperance, panperism and crime has received, within the last few months, ® constitutional affirmation by the highest court in the State, ing the cage, it is but just to test the principle of the law be- fore radical changes are adopted. Defects are, however, believed to exist in some of the details of the law. If so, per atendments should be made at the present sea- Re nting ae you do all parts of tht State, and com Wee “oreet!y from your constituents to the discharge of , you will be qualified to jadge of the na extent of euch defects. Bat since the cope tionality of the law has beon established by the Col Appeul#, it practieal operation should be fairly tested, for whch reasonable thine ¢hould be given. Any farther jost and constitutional enactment for the suppression of ‘the evila of jatemperance will have my sympatny and co-operati COW HARTE IN MONRY LEGISLATION, of postponing the consideration of the " ‘The practice Del SEs 2) Be chose of Be eeen, be discontinued. Moments ef on the eve of an adjournment, whea members sre worn and weary in the din and bustle which attends the last few hours of a session; when many have left for their res, ive homes, and when those re- are ing to do 60, are not the hours best to cal i Sabena jateoaeh sea noten, nye. 6 containing grants money more 2 oue hundred various objects, amounting to moro ‘ban one million of dol all to be collected i = E 5 i = e E é & 5 condition of the territory over which they have authority is so decided as to leave no doubt of either the necessity or the wisdom of the enactme! nt. ‘Not quite so much can be said of the act passed fame session, to re-organizo the Warden’s Office of the port of New York, some provisions of which are deemed oppressive tothe shipping mterest and require amead- ment. But'l think it would be improper to destroy that portion of it which affords protection to the owners of cargo. Trotessor A. D. Bache, Superintendent United States Coast Survey, made to my predecessor, near, the close of the year, a report of bis observations in inuation of the physical survey of the bay and harbor of New York, which will be laid before you. A MIT AT THE LonBy. The duties of legislators, always arduous and perplex- ing, bave been rendered more distasteful and irksome of late years by the growth and prevalence of the practice of employing agents to surround them in their halls and to waylay them in their walks with A apap Qnd im- portunities in bebalf of bills in which a personal or corpo- rate interest is involved. These agents gaia access to the legislative halls, and follow members even to their seats. So general and so annoying is this practice that lobbying has become a trade, yn gainful but never creditable. Its existence and its excesses tend to create a geueral re- pugnance to ail bills involving a private interest. Acclaim or other bill, @ private interest, may properly be and commended by the person or “y4 interested, or by some one authorized to speak in Bis half, who should confine his efforts mainly to the committee or committees having in chargo the measure in question. Beyond this lobbying is objectionable; and ‘when it follows members to their private apartments, and intrudes upon hours reserved for studying documents and preparing reports, is insufferable. It is my deliberate purpose to discourage these practices, and to disapprove all bills which I shall have good reasons to believe have Deen passed by such means. ‘THB ETERNAL KANSAS QUESTION, The State of New York has consistently maintained a conservative attitude with regard to those of her sister States which cherish systems of labor differing from her own. Disclaiming all right or wish to interfere with the domestic concerns of any community outside of her own limits, she insists on her right to maintain, wherever the issue shall be legitimately presented, the superiority of liberty over slavery, Whether as a condition of personal enjoyment, of inteli¢etual and moral developement, or of social and general well being. While herself slaveholding she voted to pronibit by act of Congress the extension of slavery into federal ter- ritory, as, thirty years later, she voted to exclude it from Missouri and from tbe federal territory stretching north- ward and westward from that State. Nearly twenty years later the question recurred with reference to Territories then about to be acquired from Mexico, and again ber voive was raised, distinctly and emphatically, on the side of civilization and humanity. Throughout the struggle which preceded and attended the orgauization and settlement of Kansas, her devotion to the cause of free labor was never doubtful nor lukewarm. No eophisiry has suiliced to blind her to the fact that the establishment of slavery upon territory litherto free, would be a calamity and a wrong, for which not only the handful of settlers who had already drifted upon the soil ofsuch Territory, but the whole American people who permitted such establishment, would be justly held responsible. To contravene the settled policy of our revolutionary statesinen, and remit the question of slavery or uo slavery ina Territory to the unchecked volition of a majority of the first hupdred or thousand per- ons who might Lappen to balt upon its soil, is to concede the fundamental assuinption of those who entertain differ- ent opinions upon the subject, that no national, no moral considerations are involved in the issue between free and slave labor, but that the preference of one, as the other, ig to be determined by climate, adaptation tropical or non-tropical products, or by some other purely physical condition. It is to refer a grave question, vitally affecting the reputation and welfare of twenty-five millions of peo- ple, joint owners of a vast national domain, any of whom may be, and some of whom, with the descendants of near- ly all, in the nature of things must be, among the future inhabitants of that domain, to the decisions of less than a thousandth part of their number. This is not genuine popular sovereignty. but the sovereignty of chance, of accident, of flectness in reuching and dexterity in appropriating the Territory in question— the sovereignty of a few persons over the destinies and happiness of millions. New York bas never assented and cannot now assent to a theory which thus divesis her of all control over the common heritage of her sovs with those of her sister States, which declares her an alien and an intruder on the patrimony acquired by the common blood and treasure of the whole American people, and which virtual; Fae ns to the world that she cares not whether her children who migrate westward shall thence- forth live where manual labor is respected and honored, or where it is regarded as the fit employment only of the enslaved and degraded. Such indifference is not feit, and ought not to be feigned. Every American must in his heart desire either that slavery should or that it should not be extended mto our federal Territories, and each has a right to proc act upon his choice. If the deliberate sentim people, constitutionally expressed, shall favor slavery ex- tension New York will submit, as she has siways submitted, to decisions fairly made, which contra- vene her convictions or her interests, bowever dis- appointed by any lawful action of the constituted antho- rities of the United States. She has never faltered nor sought redress in acts of nullification nor in threats of disunion. She wages no war upon the institutions nor the interests of her sister States. While frankly avowing that should the legal exclusion of slavery from the federal Territories conduce to the diminution of its influence, and the limitation of its existence throughout our country and the world, that fact, so far {rom coustituting an objection, would aiford an additional reason for her eimplatic ad- herence to the policy of restriction . EDWIN D. MORGAN, Aunany, January 4, 1859. Police Intelligence. Aseavir on ALpERMAN McSrepox.—As Alderman Thomas MeSpedon, accompanied by his brother, was proceeding in a carriage to his home in Seventy: street, near Third avenue, on Monday night, he had the misfortune to break down upon the track of the Third avenue railroad. A car coming along, the Alderman was requested to move out of the way, when a dispute arose between him and the driver, which finally resulted ina regular set-to, Jehu called tipon the conductor for help, und in an metant the entire party were engaged in a. game of fisticuffs. The Alderman and his brother had tie de- cided advantage. ‘The hitting of the former would have done honor to the most proficient in the manly art. In fact, the conductor and driver were nowhere. After pum. meling the railroad employés into submission, th man handed them over to the Nineteenth precimet police, and preferred a charge of assault and battery against them, Danogrovs Assauit with a Kyive.—Peter Dolan was brought before Justice Kelly, at the Jefferson Market Po- lice Court, on charge of feloniously assaulting Francis Y. Reynolds with a dirk knife, The row occurred in the liquor store No. 879 Seventh avenue, which is kept by Reynolds, and grew out of a dispute relative to the quali fieations of certain candidates for Alderman in that dis- trict, In the course of the argument Dolan became ex cited, and drawing a knife, made an effort to stab Rey The latter managed oid the thrust, but he was again assaulted by Dolan and dangerously stabbed. in tho region of the left lung. The aesailaat then lett the pre muses, and proceeding to the Twentieth precinct station house, delivered himself into the custody of the Sergeant there In command, Reynolds’ wound is a dangerous ove, ‘and may prove fatal. . Carrere or Bonoiars.—Lewis Miller and Jobn Rhan, two young burglars, were caught in the dwelling house of Mrs. Diana Van Buryer, No. 103 Varick street, on Mon. Gay night, by one of the boarders, who happened to be out jate, and returning home caught the fellows in the hall. The accused were brought before Justice Kelly, at the Jefferson Market Police Court, where they were com mitted for trial in default of bail, Ticaway Roreery.—Last evening a man named Harris ‘was attacked by several young ruftia: Amity and Wooeter streets, when he was knocked down and robbed of a watch worth $60, One of the party was orrested by Sergeant Dilks, of the Fifteenth ward, aud | locked up. The thief who abstracted the wateh succeeded in making good his eseape United States Clrentt Court, Before Hon, Judge Ingersoll, JAN, 4.—Jarnes MeAdam was tried and acquitted of a charge of karceny on the high geas. Edward Edwards, gang of Brooklyn counterfeiters, pleaded guilty and wad remanded for senteuce. . United States District Court, Before Hon, Judge Betts Jax, 4.—The Court was opened and adjourned to Wed, nesday. Henry L. Bursworrn’s Wi1.t.-$700,000 ro Yaue Couwox.—The will of the Hon, Henry L. Blaworth was proved to-day. It is estimated that Mr. Flisworth was worth eight hundred thousaad ($800,000) dotlars at wha time of his death, Hie immense land speculations at the Weat, now in cultivated farms, proved immensely proiit- able to bim, The remarkable part of bis will is, that it gives to Yale College seven-cighths of his great estate, ‘The provisions of his will are:— 1. $25,000 in trust to his gon, Henry W. Ellsworth, 2. $26,000 to his daughter, wife of Roswell Bmith, Raq, 3, $25,000 to the heire of his son Edward, 4, $1,600 annually to hts wife. ‘The remainder of his property, amounting to about seven. hundred thousand dollars, be gives to Yale College: and this ¢um amounts to more, probably, than the present en- tire worth of that corporation.—Martford Times, Jan, 3. at the corner of | THE IRON INTEREST OF THE UNITED STATES, Combined Movement of the Iron Masters. Meeting of the Pennsylvania League in Philadelphia. SPEECH OF EX-SENATOR COOPER, &s., &., de. Oa Monday evening last a meeting of the leading tron masters of Ponnsylvania was seoretiy convened at the rooms of the United States Iron Masters Association, im Philadelphia, for the purpose of consulting upon the prog- pects of the iron interest in this country, and initiating a programme for a consolidated movement of that interest throughout the United States. ‘The meeting was select in its character,and many of the leading men in the trade were present. The objoot of the meeting was explained iu an address by Hon. Jamos | Cooper, which was as follows :-— | Mx. PResipant AND Gxyrixaky:—Nothing is more nate- ral or propér than to look back and inquire, after having | experienced a series of disasters, whether they were such as in the nature of things are unavoidable, or of a class | which wisdom and prudeace might avert. Such a retro- | Spect may be useful—in no event can it be hurtful. In he brief space of my own lifeI have been a witness of several periods of depression and prostration in the busi- ness of the country, 80 general and paralyzing in thoir effects upon industry aud commerce as to be a veritable calamities. Two out of three of these periodic com- vulsions—all of which have occurred within the memory of men younger than I am—took @ great majority of the community by surprise, thongh they were not unlooked for by wise and clear-sighted men. Tho first of these disasters, following closely upon the heels of our last waa with Great Britain, was seen in the distance, and its ap- ch generally anticipated. Whou the war commenced Poon thas thirty years had elapsed since the close of the Revolution. ‘Ihe mechanic arts were still in their in- fancy; manufacturing, as manufacturing is now under- stood, had no existence; our agricuiture had bee neglected, ani our commerce driven from the seus. A heavy war dobt had been contracted, direct taxa- tion had been resorted two in order to pay it, the re- sources of the country and the natural elasticity and hope- fulness of the American were stil but little undorstood we imported more than we exported. But the pros- tration of business and industry was not of long duration, aud was soon forgotten in the tide of prosperity which flowed in upon us on ali sides. Agricultare revived; the mechanic arts prospered; manufactories of various kinds were established, and the American flag, protecting Ameri- can commerce, floated prosperousiy in the breezes of every sea. {xulting in restored prosperity, stimulated by awakened energy, the force of which was not yet fully comprehended either by herself or gthers, the ‘country now entered fairly into the race for empire with the nations of the Old World. Ihave remarked that the approach of this iirst of the three disasters which we have sue- cessively experienced was generally anticipated. Not so, however, with either of those which followed it. approach was foretold by no sign of which the country generally took note. To the uaobservant eyo the prospect was bright and full of promise. Nothing seemed to augur that danger was nigh; but all at once, like the destructive storms Which sometimes burst upon tropical countries im the summer, without a monitory cloud to announce their approach, the crash came, overwhelming thousands who believed ‘themselves secure in bankruptcy aud ruin, Tm 1887 the next storm came, taking the country by surprise. Its effects were calamitous. Industry of all kinds was prostrated; public and private credit fell together; banks Suspended payment or broke; the farmer was with- out a market for his products, and the laborer without employment. Distress and suffering wore universal. If the disaster which preceded it was sudden and unex- pected, the relief which followed it was complete and instantaneous. Credit was at once revived; industry Started into fresh and vigorous life; labor found immediate employment and ample remuneration; business everywhere became productive and prosperous and the people happy. Such was the miracle wrought by the enactment of a law which, in protecting industry, restored confidence. The act of 1846 followed, and though wuwise in subverting the speci- ne ‘system of duties ane: the ca 1842, as well ag In othor , its unfavorable operation was counteract~ ‘od, both at Rocidia aero noo of abainys Wlto~ gether unforseen and independent of the act itself. The country, however, owing to the state of things I have men. tioned, and to its own inherent resources and energies, which even unwise laws cannot whoily break down or re- press, when other circumstances are favorable, was in the main prosperous from the time business revived, in 1842, up to a period shortly before that of the disaster’ through which we have just passed. The revolutions of Europe of 1848 and 1849, the famine which preceded them, and the wars between Great Britain and France on the one hand, and Russia on the other, had postponed or counter- acted the pernicious effects which the low scale of duties and ad valorem principle established by the act of 1846 were certain, sooner or later, to produce. The revola- tions baving Ceased, and the war ended, industry returned to its customary channels. This being the case, our agricul- tural products were no longer needed to feed the beilige- rent armies; our ships no longer required ta transport men or merchandise. England was no longer obliged to resort ‘0 the ranks of her laborers to recruit the ranks of hor army. The thirst for gold which had induced lar, numbers of her laboring population to flock to i- fornia and Australia had been siaked in disappointment and hardships. War and emigration being both at an end, England was able not only to supply her own wants, but to produce a surplus, wiih which she overran our markets, It was in this state of things that the paral A cious effects of the act of 1846, and its supplement of 185 first became fully manifest. The evil day had come. The immenge foreign debt, estimated at the time of the late revulsion at $500,000,000, which we had contracted for railroad iron and other commodities, was becoming trou- Diesome. The foreign creditor would no longer receive payment of his interest in railroad and municipal bonds, as he had been in the habit of doing for years past. In addition to this, the imports had for a number of years largely execeded the exports, leaving a balance of trade against this country annually amounting to many mil- ious of dollars. To meet this adverse balance of trade and the interest on our immense foreign debt it became necessary to ship specie. ‘The effect of this soon became visible at home. The banks curtailed the factlities whieh they had previously afforded as a matter of self-defence; but it was too late to prevent the suspension of September of last year or the prostration and ruin which followed it, I have’ troubled you with this brief biatory of the revul- sious which have Visited the country at the several periods I have mentioned for the purpose of showing that they all occurred under a system of low duties assessed on the ad valorem principle. Whether these periodical revulsions have been the result of low duties assessed on a privcipie which affords the least amount of protection when most is needed, is a question of graye moment to the government as well as to several of the largest and most important Of our industrial juterests. The tact that the disasters which have successively prostrated the in- dustry of the country have all occurred under low duties, levied on the ad valorem system, and that the country has always revived from their effecis under the opposing system, would seem to be conclusive that the former, if not the cause of these disasters, is at least useless for the purpose of preventing them, It should also suffice to cast the burthen of proof on its advocates to show in what its advantages over the system of spe. cifle duties consists. It 18 not, however, my purpose to. attempt to show, in this connection, the superiority of specitic over ad valorem antics. I'sball, therefore, dis- miss the subject for the present, to take iv'ap mits more hatural connection hereafter. From the brief ri t have presouted of the successive disasters which have visited the country it has been seen that, right(ully or wrongfully, i have attributea them to an adverse balance of trade which it was necessary to equalize by the ex- portation of spe That a large adverse balance of trade frequently occurring would be fuilicient to produce such disasters ho ove will be hardy enough to deny. To show that such a balance exists and nas existed {for a number of years, and to suggest a means for its prevention for the future, will be the object of my further remarks. The whole value of the domestic produce of the United States exported during the year 1864 was $252,047,808; foreign produce exported | uring the same year, $23,748,514—making an aggregate of $275,796,320." The imports during the same period amounted to $301,494,094. The difference between the aggregate amount of domestic and foreign exports and imports is $25,679,774. The difference between the domes- tic exports and imports js $49,466,288. I have selected 1854, not hecause the differ tween the exports and imports was greater duriug that than in preceding and suc- ceeding years, but because I happened to have readier necess 10 tt than to oth It 1s probable that in. pre- ceding years the difference was less, while in succeeding years it was greater. Butthe ailerence between 1854 and other years caunot affect the argomeut, imasmach as the balance hes t largely against us for aoomber of years auce of trade accumulating from year to year at an average rate of $30,000,000, must be made good by the exportation of specie. Nothing else Will satisfy our creditors. ‘The consequence of shipping ¢ specie in sich quantities is that the country is dratned of © the pr metals, it for safe banking ia narrowed, and the ity of the banks to afford hot contracted, bot as a efenee they are com- This produces in te market, and the | pelled to reduce their circulation iret. place a str in in the money next thing We hear of is great mercantile failures, which beget alarm on the part of creditors, distress amongat debtors and a general destraction of confidence; and the upshot of all is widely extended baukeuptey ruin. But it Snot only the inequality between our imports and exports hat bas to be cquatized by wen dour spacie. he importation of millions and pvillions of di worth avnvally of articles that should be produced at home, and which would be produced at home if the pro- duction of such articles were adequately cnoottraged, we have incurred an overwhelaing foreign debt, ampanting nocording to some estimates, bat I trust oxaggerated ones, to $600,000,000, ‘The interest on this debt, whatover may be its extent, mast be annuaily paid, thas largely swe'ling the balance against us and involring the necessity of a further draft on the specie resources ef the country. In such a condition of things it is that OnlWornia has poured and continues to pour her golden treasures into our lap by millions, Thoy are swaMowed fn the uneatisfied detiedt as the cains aro swatowed by the thirsty sands, But sill the drain goes on, Instead ot be. coming richor we are avnually becoming poorer; and ‘unless something be done by which the trace between this and foreign countries can be equalized, Wwe must conten’ onrselyes by sitting down at the feet of our rivals in per- tual commercial servitude. But how, it may be asked, Ira balance so large to he equalized? To import loss, by the amount of the difference between onr imports and exports, is. an answer toMthe question, bul no solution tho difeulty, It is the means by Which oe exports may De increased and our imports diminished Which it is de- sirable to ascertain and employ. Bat what means that | are within our reach will be effectual for the purpose ? Car we guccesstully curb the evi spirit of extravagance which