UNITED STATES. THE PRESIDENT'S MESSAGE.

New Zealander, Volume 4, Issue 313, 30 May 1849, Page 3

UNITED STATES. THE PRESIDENT'S MESSAGE.

The fo lowing is the messnge of President Polk, the ln>-t he will deliver, a« read to Congress on the 4th December. Though much longer than such documents usually are, it offers some points of in'erest. 'lhe most material paragraphs (to Eng ish readers) are sul'joiHfd :—: —

THE BOUNDLESS BLESSINGS OF THE STATES. Fvilluw-C i izens ol the Senate and the House of Represent it vos— Under thi* ben sjnant Providenro of Almighty God, the re)>iesentativcß of the states »nd of the p ople are ai'nin brought together to deliberate for the public good. The gratitude of the nation to the Sovereign Arbiter of ull human events shou'd ba commensurate with the boundless blessi igs which we enj )y. Peace, plnity, and con'entment reigh throughout oir holders, and our beloved country presents a sub* lime tnor.il spei't*<le to the w rid. The troubled and unsettled condition of some of the principal European powers has had a necessary tendency to check and embarrass trade, and to depress pi ices throughout all corameicial nations; but, notwithstanding these causes, the United State?, with their abundant product-, have felt their effects lest severely than any other country, and all our great interests are still prosperous and success'ul.

SYMPATHT WITH REPUBLICAN GOVERNMENT. The Government and people of the United States hailed with enthusiasm and delight the establishment of the French Republic, as we now hail the effjrts in progress to unite the slates of Germany in a confederation, similar in many respects to our own federal union. If the great and enlightened German States, occupying, ai they do, a central and commanding position in Europe, shall succeed in establishing such a confedented Government, securing At the sacne time to the citizens of each state local governments adapted to the peculiar condition of each, with unrestricted trade and intercourse with each other, it will be an important era in the history of human events. Whilst it will consolidate anil strengthen the power of Germany, it must essentially promote the cause of peace, commerce, civilization, and constitutional liberty throughout the world.

MILITARY CAPABILITIES. One of the most important results of the war into which we were recently forced with a neighbouring nation is the demoniuation it has afforded of the military strength of our country. Before the late war with Mexico, European anil other foreign poweri entertained imperiect and enoneous views of our phyiiral strength as a nition, and of our ability to prosecute war, and especial'y a war waged out of our own country. They law thut our standing army on the peace establishment did not exceed ten thousand men. Accustomed themselves to maintain in peace large standing armies for the protection of thrones against their own subjects, as well as against foreign enemies, th y had not conceived that it was possible for a nation without such an army, well disciplined and of long servic ,to wage war successfully. They held in low repute our militiu, and weie far from legarding them as an effective force, unless it might be for temporary d fensivu operations, when invaded on our own soil. T e events of the late war with Mexico have not only undeceived them, but have removed erroneous impressions which prevailed to some extent even among a port;ono our own counlrynrun. That war hat demonstiated that upon the breaking out of hostilities out ant orated, for which no previous preparation bud.

been made, a volunteer army of citizen soldieis, equal to veteran troops, and in numbers equ-il to any emergency, (an in a short period be brought into the field, Unlike what would have occuired in any other country, we were under no necessity of resorting to draughts or conscriptions. On the contrary, such wai the number of volunteers who patriotically tendered their services, that the chiet difficulty was in making selections and determiniug who should be disappointed and compelled to remain at homa. Our citizen soldiers are unlike those drawn from the population of any other country. They aie composed indiscriminately of all professions and pu, suits—of farmers, lawyers, physicians, merchants, manufacturers, mechanics! and labourers ; and this, not only amon; the officers, but the private soldiers in the ranks. Our citizen soldiers are unlike those of any other country in other respects. They are armed, and have been accu-to ried from their youlh up to hancl'e an 1 use liie-anns ; and a large pio portion of them, espcciully in the western and_-moic newly-settled state*, are expert maikatnen. They are men who have a re put it ion to in,imttti.i at home by their good conduct in the field. They are intelligent, and there is an individuality of character which is found in the ranks of no otlur <irrny. In battle, each private nvin, as w :!l as cveiy officer, fights not o.ily for hit. conntiy, but for glory and distinction among his fellow-citizens when lie shall return to civil life.

ADVANTAGES OK A NATIONAL TREASURY (nANK.?) The operations of the consMtutiurml treasUiy established by the act ol theo'th of August, 18461, in the receipt, cusiody and di bursemeut of the public in ,ney. have continued to be successful. Under this system the public finances have b en carried through a foreign war, involving the necessity of loans and extraordinary expenditures, and requii ing distant transfer* and disbnisements, without embarrassment, and no loss has occuired of any of the public money deposited under its^provisions. WhiUt it has proved to be safe and useful to the Government, its effjets have been most beneficial Upon the business of the country. It has tended powerfully to secure an exemption from that inflation and fluctuUioti of the paper cunency, so mjuriuus to domestic industry, and rendering so uncertain the rewd ds of labour, and it is believed has largely contribu ed to preserve the whol- country from a serious coimne.cial revulsion, such as ofcen occurred under the bank deposit system. In the year 1847 there was a revulsion in the business of Gnat Britain of treat extent and intensity, which was followed by failuies in that kingdom unprecedented in n .mber and amount of losses This is believed to be the first in. stance when such disastrous bankruptcies, occurring in a country with which we have such extensive commerce, produced little or no injurious effect upon our trade or currency. We remained but little affected in our money maiket, and our business and industry Were still prosperous and progressive. During the preseut year nearly the whole continent of Europe has been convuLed by civil war and revolutions, attended by numerous bankruptcies, by an unprecedented fall in their public securities, and an almost universal paralysis of commerce and industry ; and yet, although our trade and the prices of our products must have been somewhat unfavourably affected by these causes, we have escaped a revulsion, our money market is comparatively easy, and public and private credit have advanced and improved. It is coufulen.ly believed that we have been saved from theii effect by the salutary opera ion of the con stitutional treasury. It is certain that if the twenty* four millions of specie impoi ted into the country dvi ing the fiscal year ending on the 30th of June, 1847, had gone into the banks, as to a great extent it m tit have dune, it would, in the absence of thm system, have been made the basis of augmsnial bank paper issues, pro bably to an amount not less than sixty or seventy milli,m of dollars, pioduang, us an inevitable conse quence of an inflated currency, extravagant prices for a time, and wild speculation, ivhich must have been followed, on the rejiux t > Europe, the succeeding year, of so much of that specie, by the prostiation of the business of the country, the suspension of the banks and mo^t eiten^ive bankruptcies. Occurring, as this would have done, at a period when the coun fry was engaged in a foreign war, wlieu considerable loans ol specie were required for distant disbursements, and when the bank-, the fiscal agents of the Government, anil the dep»Bitoiies of it money, were suspended, the public credit must have sunk, and mmy millions of dol lars, as was the case duiin? the war of 1812, must have beuti saciificed in discounts upon loans, and upon depieciated | aper currency which the Government would have been compelled to uss.

AMERICAN PROGRESS UNDER MR. POLK's TRDSI* DhNCY. Within less than four years the annexation of Tex»s to the Union has been consummated ; all conflicting title to the Oicgon territory south of the forty-ninth degree of north latitude, being a>] ttiat was insisted on by any of my predecessors, has been adjusted ; and New Mexico and Upper California h ye been acquired by tieaty. The area of these srveral territories, according to a report carefully prepared by the commissioner of the General Lund office, from the most authentic information in his possession, and which is herewith t'nnsmitted containing 1,193.061 square miles, or 763,559,040 acres ; while the aiea of the remaining twenty-nine states, and the territoiy not yet organized into st.ites east of the Rocky Mountains, contains 2,059,513 square miles, or 1,318,126,058 acres. Theie estimates show that the territories recently acqniied, and over which our txdusive juiisdiction and dominion have betn extended, constitute a country more than half aa large a* all that which was held by the United States before their acquisition.

TIIC NATIONAL BALANCIS SHCUT. It is estimated that the receipts into the Treasury for the fiscal year ending on the 30th of June, 1849, including the balance in the Treasury on the Istot July last, will amount to the sum of 57,048, 909 dollars 90 cent |; of which 32,0.0,000 cLl'ais, it is estimated, will be derived from custom! ; 3,000,000 dollars from the sale of public lands ; and 1,200,000 dollars from miscellaneous aud incidenial sources, including the piemium upon the loan, and the amount paid and lobe paid into the Treasury on account of military contributions in Mexico, and the tale of armi and vessels and other public property rendered unnecessary for the use of the Government by the termination of the war; and 20 693,435 dollurs 30 centi. from loans already negotiated, including Treasury notes funded, which, together with the balance in the Treasury on the Ist of July lust, make the sum estimated. Ehe expenditures for the same period, including the necessary payment on account of the principal and inteiest ol the public debt, and the principal and interest of the fiist instalment dun to Mexico on the 30th of May next, and other expenditures growing out of the war, to be paid during the present year, will amount, including the reimbursement of Treasury nolei, t> the sum of 54,000,175 dollars 6 cents., leaving an ( Btimatpd balance in the Treasury on the Ist of July, 1849, of 2.853,694 dollars 84 cents.

THE GOLD MINES OF CALIFORNIA. It was known that, mines of the precious metals existed to a considerable extent in California at the time of its acqui it ion. Recent discoveries render it piobublc that these mines are moio extcuiivc and valuable

than wai anticipated. The account! of the abundanca of gold iv that territory are of such an extraordinary character as would scarcely command belief were they not corroborated by the authentic reports of Officers in the public service who have tisited the mineral dis* trict, and derived the facia which they detail from personal observation. Rtluctant to credit the reports in general circulation as to the quantity of gold, the officer commanding our forces in California visited tho mneral district in July List, for the purpose of obtain* ing accurate information on the subject. When ha visited the country there weie about 4000 persons engaged in collecting gold. There is every reaion to believe that the number of peisons so employed lisa since been augmented. The explorations already made warrant the belief that the supply it very large, and that gold is found at various pl&ces in an extensive district of ihe country. The effects produced by the discovery of these rich minoal deposits, and the success which has attended the hbours of those who have resorted to them, have produced a turprising change in the state of affairs in Cahloinia. Labour commands a most exorbitant price, und nil other pursuits but that of searching for the precious metals are abandoned. Neaily the whole of (lie male population of the country have gone to the gold district. Ships arriving on the coast are deserted by their crewi, und theii voyages suspended for want of sailors. Our com mantling officer there entertains apprehensions that soldiers cannot bu kept in the pub* lie service without a large increase of pay. Desertions in bis command have become frequent, and he iccommends that those who shall withstand the strong temptation, and remain faithful, shall be revraided. This abundance of gold, and the all-engrosiing pursuit of it, have already caused in California an unpre« cedented rise in the price of the neceisaries of life. That we may the more speedily and fully avail ourselves of the undeveloped wealth of these mines, it is deemed of vast importance that a branch of tha Mint of the United States be authorised to be established, at your present session, in California. Among other signal advantages which would result from such, an establishment would be that of raising the gold to it< par value in that territory. A branch mint of tha United States at the great commercial depot on tha wes. coast would convert into our owu coin not only the gold derived from our own rich mines, but also the bullion and specie which our commerce may bring 1 from the whole west coast of Central and South, America. The west coast of America and the adjacent inferior embrace the richest and bist mines of Mexico. New Granada, Central America, Chili, and Peru. The bullion and specie drawn fiom these countries, and especially those of Western Mexico and Peru, to an amount in vnlue of many millions of dollars, ate now annually diveited and carried by the ships of Great Britain to her own ports, to be recoined or used to sustain her national bank, and thus contribute to increase her ability to command so much of the commerce of the world. In conclusion, the message recommends the continuance of the veto power as essential to the proper working ofjthe constitution, and argues that it Is a power which ran never be abused. The American papers speculate on the policy likely to be pursued by General Taylor. It is mppoied he will lecommend— " 1. A higher tariff of duties ; in effect, a protective tariff. " 2. A twopenny postage to all parts of the union, " 3. A niodifn ation ol the national treasury system. 11 4. The establishment of territorial governments ia Mexico, California, &c." The commercial advicei were satisfactory. Money was by no means scarce. Exchange on London had dropped to 108 to 103^; very few sales.