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its affiliated federalist schemes; and Mr. Webster, at Boston, has propounded a problem in relation to the former, difficult of solution, as follows:

"Mr. Webster said, that he had been at some trouble to ascertain, from correct sources, the expenses of the war, and he read a paper on which was written a statement of the resources and the expenditures of the government for the last five months, by which it appeared that the expenditures were about sixty millions of dollars per year, or double the resources, without taking into account the outstanding claims. And this immense debt must be met.

He asked how? And showed that by the operation of the Sub-Treasury, a government measure, the treasury will be cramped, and the treasurer will be in a situation of great distress. The operation of the new law will draw all the specie out of circulation, and leave nothing for the public use. He said that by the old mode of doing business, allowing the Secretary of the Treasury to draw his money when he wanted it, there would have been less trouble."

The expenses of the government are taken, probably, from the official report for the quarter, ending September 30, which gives an aggregate expenditure of $14,088,661 for the quarter, which is nearly at the rate of 60 millions per annum, including the war and the public debt. For the six months, ending Sept. 30, 1846, $23,469,400; and for the three quarters, ending Sept. 30, 1846, the whole expenditures of the United States government, war and debt included, is $27,953,297, and for the same three quarters of 1841, when Mr. Webster was Secretary of the Treasury, and during the retrenchment and reform fever of the newly installed government, they were $24,734,346. That is to say, the war with Mexico has been supported four months, the victories of Palo Alto, Resaca de la Palma and Monterey achieved, and California, Chihuahua, and Santa Fe, three large empires, added to the Union, and the whole expense, in addition to the regular disbursements of the government, have exceeded those of the same period of 1841, but $3,718,953. Both periods, viz: the 1st three quarters of 1841, and the 1st three quarters of 1846, were periods of border difficulties. In the former case, a powerful neighbor was dealt with, and the results were a surrender of large

tracts of land belonging to the state of Maine, but no actual warfare existed. The army and navy afforded no aid in the settlement, nor were military expenses increased. In 1846, an invasion of the southern frontier of the United States involved a war, which has been conducted, if we take into view the extent of territory and its vast resources overrun and annexed to the Union, with a success greater than ever before attained in so short a time for so little expense of blood and treasure. As we have shown, the actual expenditure for the three quarters is but $3,217,957 more than in the same period of 1841. The expenditures of the army proper were $8,143,659 for the last quarter, and 5,041,762 for the previous one, being together ten millions more than the usual peace expenditure for the same length of time. Yet Mr. Webthe annual expenditures are vastly exster's speech leaves the inference that travagant, even for a time of war; but while making this display of what the government must expend, he asserts that the "Independent Treasury will draw all the specie out of circulation.” We apprehend, if the government pays out sixty millions per annum, and pays in specie, according to the Independent Treasury law, that very considerable sums of specie must be put into circulation. If the government receives $60,000,000 in specie, and retains it on hand, it will, of course, draw it out of circulation; and this is the only view of the case taken by the federalist leaders. Unfortunately, however, the other side presents an egress of specie from the treasury vaults, rather more rapid than the ingress. The difference is, that the people are receiving on one side, and banks are paying on the other, an operation by no means agreeable either to corporate institutions, or their speculative borrowers.

The chief attack is, however, made on the war itself, a war that doubtless emanated from the over confidence of the Mexican leaders in European aid, and in the encouragement they received from the tone of federal papers throughout the Union. As an indication of the manner in which the war is to be attacked at the coming session, quote from the speech of Mr. Webster:

we

"The first that was heard of it was from

the assertion of the President that the war existed. Texas had become a part of the United States, and the boundary that had been claimed up to that time was the river Nueces; all beyond that was actually in possession of Mexico, had never even been claimed by Texas. But the President had, by a great violation of duty, ordered the United States army to push forward beyond it, and in so doing he had committed what Mr. Webster considered as an impeachable offence. The President had it in his power to do such a thing, but had no right to do it. By the constitution he was authorized to repel invasion, but he was not authorized to go beyond the territory, and invade another country."

66

The first that was heard of it"

was the attack by the Mexican invading army on the troops of the United States. The only pretence of opposition to the war is the shallow one in relation to the boundary, and to make that pretence, the river Nueces is assumed as the true boundary. Why it is so assumed cannot be shown, unless that it was because the United States troops having occupied it unmolested for a length of time, that circumstance constituted it a boundary. In no manner was the river Nueces ever mentioned or assigned as the limits of Texas. On the other hand, all the intercourse which took place between Mexico and Texas recognized the Rio Grande as the boundary; as thus, a specific condition of the articles after the battle of San Jacinto, was the evacuation of Texas to a region beyoad the Rio Grande. The Legislature of Texas always impliedly and often specifically embraces the district between the Nueces and the Rio Grande. In 1842 the Hon. Ashbell Smith, acting as Secretary of State, made two Empresario contracts for the settlement of the country, on the Rio Grande, including its immediate banks. One contract was with a British subject and the other with a citizen of France. By the act of annexation the United States adopted the position and relations of Texas towards Mexico. If, then, we examine what those relations were, we find that a preliminary treaty of peace had been signed by the Texan Secretary of State, and by the Mexican Minister for foreign affairs, under the express sanction of the Mexican Congress, and it was then waiting the action of the Texan Congress. It was in itself a treaty of peace, based on the

Independence of Texas, leaving the boundary open for future arrangement. At this point the United States assuming the place of Texas, sent a Minister to treat for the boundary. Mexico refused to receive him! and for the very novel reason that he had "too much authority," viz. that he was empowered not only to treat of the boundary but of all other matters. Mexican wisdom, however, decided that unless his other powers were taken from him, they would not treat about the boundary. Now, the boundary on the At

lantic was never other than the natural one, the Rio Grande. We have seen an atlas published in London, in 1843, by Arrowsmith, whose reputation as a geographer entitles him to respect, notwithstanding the propensity of the English to make red lines," not only where they control, but where they intend to dictate, assigning the Rio Grande as the boundary of Texas, and the northern limit of Mexico. Moreover, M'Culloch's Geographical Dictionary, which enjoys deservedly a large reputation, describes Texas as follows:

lic of North America, between the United "TEXAS, a new and independent repubStates and Mexico, extending from 26 to 40 deg. N. lat., and from 90 to 108 deg. W. long. It is separated from Mexico on the W. and S. by the Rio Grande, or Bravo del Norte, &c. &c."

Again, the Nueces is but a small stream, extending only to the 30th deg. North latitude, while the Rio Grande runs 10 degrees further, continuing to form that western boundary described by M'Culloch, and which would not exist if the Nueces only were the boundary.

The United States having annexed Texas, proceeded to legislate for the district between the Nueces and the Rio Grande. It became a Congressional district, and was represented in Congress when news of its invasion arrived. It was a collection district of the United States, which was bound to defend it. But, say the federalists, Mexico never acknowledged Texas south of the Nueces! Did she ever acknowledge Texas north of the Nueces? No doubt was ever raised as to the perfect title of both Texas and the United

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States to the left bank of the Rio Grande, except by federalist factions. To say that the movement of United States troops from one part of the United States territory to another part of the United States territory, gave offence to Mexico, and therefore provoked a war, is to say, that Mexico was the superior power or sovereign over the United States.-an assertion in itself ridiculous. The troops of the United States, in the peaceful occupation of their own territory, were attacked by a Mexican invading army, which they beat back with disgrace. The President announced the fact of the assault upon the honor of the country, and the integrity of its soil, and Mr. Webster says, "The President made the war," and is guilty of an impeachable offence." If we test the popularity of the war among those who are to pay for it, and who are to fight it out, we see in the crowds of eager volunteers pressing down to the scene of danger, no distaste to the struggle, although the absence of their votes is supposed to display hostility to its existence. If we contrast the prompt manner in which the loan asked for by the Secretary has been taken by capitalists, with the refusal of that offered them by the government of 1841, we shall find no indication of that opposition to the war, which is proclaimed so loudly to exist. When, in 1841, an extra session was called to economise the government revenues, it soon found itself obliged to contract a permanent national loan, in order to free the government from debt; and in July, 1841, Congress passed a law authorizing a loan of $12,000,000, by the issue of a stock bearing 6 per cent. interest, payable quarterly or semi-annually, and redeemable after three years, from the 1st January, 1842, and appropriating $12,000 to employ an agent to negotiate it. The stock was not to be sold under par, and the faith of the government was pledged for its redemption. This stock was offered in the market by the Secretary at 5 2-5 per ct. interest, and $16,000 was all that was realized. The rate of interest was then raised to 5 1-2, and $3,212,000 only was obtained. The interest was then advanced to 6 per ct., and $2,499,000 was obtained, making $5,668,000 altogether. Beyond this the government could not borrow. Notwithstanding the settlement

of the border difficulties and the prevalence of profound peace, the government commanded no confidence. The Secretary in his annual message, &c., in 1841, announced the deficit for 1842 at $14,218,000, and requested Congress to extend the time for the redemption of the balance. $6,500,000 of the loan authorised, and also to allow of a further issue of treasury notes. On the 15th April, 1842, this was complied with. The Secretary was authorised to issue stock, redeemable in 20 years, at any price that would be bid for the balance of the $12,000,000 loan, and for The treasury $5,000,000 additional. notes not redeemed at the end of the year were allowed to continue to draw interest, and the customs revenues were specially pledged for the redemption of the stock. The government could obtain on this stock only $1,587,259, although a messenger was sent hawking it all over Europe, and at the date of the passage of the act, the 6 per cent. stock, issued in the previous September, was selling in the market at 95 cts. on the dollar. On the 31st of August, 1842, a law was passed limiting the sale of the stock to par. In October, $701,649 more was obtained on the stock, and by the close of the year the whole amount reached $3,418,109. In January, 1843, the balance, $4,883,358, was obtained. In a time of profound peace, with every possible element of prosperity in action, the "retrenchment and reform" administration had no credit, although it was out of debt when it began to borrow. Let us now

see what favor the war met with from those, who for two years and a half refused to lend in time of peace. On the 30th of October, 1846, the department issued proposals for a loan of $5.000,000, 6 per cent. stock, redeemable in 20 years, and on the 12th of the next month, a lapse of 13 days only,

double the amount asked for was subscribed at a premium, and has since sold in the market at 1 a 14 premium. This has been the case, notwithstanding the utter uncertainty of the duration of the war, and the probable wants of the government, and without any special pledge of revenues. The financial policy of the government, and the prospect of the great prosperity that must result from a modified tariff, in spite of the war, have established confidence in the future.

THE ADMINISTRATIONS OF WASHINGTON AND ADAMS.*

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THERE is a French sarcasm addressed to the manufacturers of books, which professes to sum up their whole art in this short recipe- To make a book, take two books." Mr. Gibbs apparently has never heard this advice, or he despises it, for he practises the reverse principle to such an extent that we might advise him to take his one book and make three. Three very good books, interesting to three several classes of readers, he might have made out of these materials and his own elaborations; and we seriously regret that he had not done it, rather than incur the disadvantage of unwieldiness, by binding up together what only a very limited class of readers will prefer in such a form. The large mass of material, left by Oliver Wolcott, for a history of our early national finances, their difficulties, their slow advancement, their intimate connection with our general prosperity, to which they serve as an arithmetical index-the early disputes on many questions which are still disputed between political parties-the early origin of arguments and answers still deemed as good as new in political warfare; all these things would have made one volume, which would have come from under Mr. Gibb's hands in an attractive shape, and would have deserved and obtained an extensive circulation. Another book, entirely distinct, should have contained the modest biographical notices of Wolcott, which we find in these volumes, with his correspondence, as it is here, or more or less at length, at the editor's discretion. This would have found readers in New-England, and a few here and there throughout the Union, wherever, in the views of New-Englander's descendants, there runs the blood of Wolcott's home correspondents, or their friends. We ourselves are of this number, and our recollections of the small years of this century are full of the forms and faces, whose names are

recorded here. There are recollections of Connecticut, which furnishes by much the greatest mass of these letters; but we remember Wolcott himself well, and with him Trumbull, the author of McFingal, Humphries, Hillhouse, Chauncey Goodrich, Dr. Strong, Judge Reese, and others, then still on the stage; while the names of Uriah Tracey, Jeremiah Wadsworth, Joel Barlow, and many more occurring here, who had then already passed away, were yet mixed up in every fireside conversation. To us, therefore, this whole mass of letters has its interest; but for the public, there is too much of it; there are quantities of pages which shed little light on history, and shed that light through far too many words for the general reader, who cares not for the writers.

The third and most important book that Mr. Gibbs ought to have made, would have borne nearly the title he has given this, only he should have appeared as author, not simply editor. He has shown that he can make a memoir of the two federal administrations, and has indeed done it; but necessarily, in accordance with his other designs, he had done it disconnectedly. It should have been a small book, coming, by size and price, within the time and means of that large portion of our people who only know the early history of federalism from the ten thousandth echoes of partisan clamor; a clamor exaggerated on both sides, attacking or extolling in extremes, through which no truth can be discovered. Not that we deem Mr. Gibb's to be that impartial hand that would bring out the clear truth without regard to party; on the contrary, he writes professedly as the advocate of federalism, and shows the strong feeling of an advocate in every page. But he is a fair one-he makes true statements, though he wishes for their support for false principles; and one can see that he is sincere in his be

Memoirs of the Administrations of Washington and John Adams. Edited from the pa pers of Oliver Wolcott. By George Gibbs. New-York. 1846. 2 vols. 8vo.

1846.]

lief of his principles, even when his facts contradict them. To give a single instance of what we mean, we find him quoting, on p. 97, vol. 1, with strong approbation, the following piece of owlish wisdom from Montesquieu :

" # * Then the people, incapable of bearing the very power they have delegated, want to manage every thing themselves to debate for the senate-to execute for the magistrate-to decide for the Where this is the case, virtue judges. will no longer exist in the republic."

Yet, if we turn to p. 318, in the same volume, we find him recording the interference of the people in the matter of the British treaty, with apparently Reason triumphequal satisfaction. ed" at that important juncture, by means of an appeal to the people :

"The misconceptions relative to the treaty being explained, and many of the arguments against it being removed on a full and public discussion, it became evident that a majority of the people were in favor of its ratification. This did not fail to produce its effect on their representatives, and the resolution passed," &c., &c.

In these two extracts may be clearly seen the great error of ancient federalism and of modern whiggery. It is impossible to give up the old inherited dogma, that the people can do nothing without guidance and control; it is impossible to give up to merited oblivion such oracular laws, long cherished for inspiration, as the above trash, from Yet the very gentleMontesquieu. men who believe all this, when they see the people actually interfere in matters of government, see also that they do not do it unnecessarily, and that they do do it honestly and rightly. Mr. Gibbs declaims, in his introduction, against the identifying the doctrines of "modern democracy" with the "principles of the fathers of English or American liberty;" and speaks of the reality and success of our own progression, "as if he doubted it deeply." And in his peroration, after showing in forcible terms, how many reasons there were in the federal times for strengthening the arm of government in the exercise of its limited powers, he denounces the accession of Jefferson as an era when morals were corrupted, "to the over

throw of liberty;" and when "Ameri-
can Jacobinism" brought in "in great
part the evils of our political condition."
The ideas of the introduction we are
not disposed to combat at much length,
though we cannot adopt them. We
think the war of 1775, as Mr. Gibbs is
Mr. Gibbs thinks it
careful to call it, was a war for the
rights of man.
was a war in vindication of paper char-
ters-a war in defence of the chartered
rights-not of men, but of subjects.
We defended our property against
royal encroachments-not because we
had a natural right so to do, but be-
cause we had rights as against the
It is strange a man should
promise.
king, by the king's own charter and
reason so in this age, but such and so
deep is prejudice; and to this reason-
ing, at this day, many an honest whig
will lend a pleased and partial ear.
That the federal government, in its first
twelve years, did need all its strength,
is most certain; but that liberty per-
are great evils in our present political
ished under Jefferson, and that there
condition, brought in by Jacobinism, are
propositions which even these volumes,
large as they are, have failed to bring
home to our belief.

We have said that a clear and con-
cise history of those twelve years would
interest many readers; and few indeed
are they who know now what our
country then passed through. Weak,
exhausted, and disunited, the sparse
population of the thirteen states scarce-
ly numbered one-fifth our present cen-
sus, and certainly did not possess more
than a twentieth of our present wealth.
War threatened us on every side, and
not only threatened, but more or less
Spain encroached on
of the evils of war were, on every side,
inflicted on us.
our jurisdiction on the side of the Mis-
sissippi, and annoyed our navigation of
that river, and tampered with the Indi-
ans along the Florida line. The Indi-
ans of the western and northern fron-
tiers were in the field in force, and ac-
Wayne
tually defeated two of our generals in
two successive campaigns.
brought them to reason; but the peace
with Great Britain was yet in an un-
settled state, and Great Britain might
always excite a savage war upon our
backs, while both her cruisers, and
The Alge-
those of France, were capturing our
vessels upon the ocean.

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