CONGft'ESS. RETlRKMliNTOF MR CLAY. In the Senate on "Thnrsdav, somo morning business, Mr. Clay rose, atVd-presrntcd tlio creden tials ots nueceilsor, Mr. Crittenden, ile advened and which ho would leave imfim-hcd, mid bcggeil jeivo to make n few obvcrsitions unnn it he meant his resolution concerning the Constitution. It waa Itis wish, prior to Ins retirement, to obtain on expres sion of the opinion of the Senate upon those resolu tions. Hut owing to the slate of his h-atth, and the absence of hts friends, he hid lrn una1 le to call for that expression. He left it in the hands of tho Sen ate, to be disposed of as they pleased but with the mngle remark that, after all he had heard in reply to Ins views on that subject, he was still of the dehber nte opinion that thoso views were correct. . 1I uuld now be allowed to announce formally Jus retirement from the Senate, and to make few ohversittions. In December 1806, he entered tho SenjitB of the United States. At that time he re canted jt, as he did now, ns comparing advantage ously with any similar lody of ancient or modern times, whether considered with regard to power, to dignity, and he would add, ta nhi'ity. In regard to similar bodies in England mid in Franco it compared Wjthrut disadrantigo, in nil the r roped. lis Con Motrin gave, it higher powers than either of thoe. In Rnghn I, with Tew exceptions, and in Franco wilh none, thoso who composed the Senate held their rlnces in vntuo of no delegated n-.thoritv. Hut we hive the proud title of delegates nf sovereign Slates orfreoCouimonwe.i'ths. ' If we look at the powers nf the Senate, we fin I that they are much greater than this.) oflhe.Hriti h Scute. Iloih haw leg'stniive power. Their j' dicial power is higher than ours. IliK we'rmve what they have not, the vast, iindefin el, mill .'indefinable Treaty-Making power. Wc hare, too, with the Executive in an influence over, nay, in the distribution nf, the patronage of the gov rrnment. I repeat ilu-n, said Mr. Clsv, that with r- peet lodunity, to powers, and to ability, 1 may My without arrogance, that this body complies fa rornbly with any other of ancient or modern. I mijlit, said Mr. Clay, well feel a 1 mv ambition grat Hied hy belonging lo such a body. Hut I have Ion wished toseik retirement in 'the bosom of myfamily. It wa mv ptirnoso to rc'ire rfier tho political sirug .le : of 1310. Hut an ertra session of Congress bcin Mlle-I, .an I being desirous to co-operate with my irunda in restoring tlc ronntry to its wonted pros perity by such measures as seemed to us proper for hat mil, I consents I to attend at the session, which ras railed hy the lamented Harrison. His dealh Traduced a lie.-.- aspect of nffiirs in this conntry. Had he lived, every contcmpln'fd measure for the' r tira!wn ol the public p-nspsiity, won'd uivlotiht. "dly have been coiisumited, bv a omli.d co-opcra-i t:on between the l-xeeiitive and Legislative 'cpart .neiils. As to the Extra Session, any one ftce from rrl .dice, looking at the proceedings with candor and j i-tice, would say that if there wis anvlhin? to -oinp ninif, itwns not what was done, but what wis left undone, at the clos of that .Sc-inti I " Mirr'soi hadl vc,l, h- (Mr. Clnv) would have retired at the end of that Session, lint, in the vain tope of yet accomplishing at llm-regulnr Session the measures in which lie had failed, and with the pur pise of sharing the fortune of mv friends whether in diversity or prosperity, I consented to come (hisses nn, I come resolved however, t.) retire r.s soon ns I e.onld with decency. . From 1903 to the present time I have been cnicil in tne service of the country. Of the nature and vn!- I neoi ine services winch I hive rendered in mv Ion" eirair, it docs not hecnm me to pe k. Hut on onl sublet I msv bo allowed to spcik. Mv acts arc the iibjeetof onhlic jihlgment; but my private motives or a elio a, are known only to the great searcher of hnnian hearts, and to mvs-lf, and appeal to tho Divmo Searcher nf heart for the Iriilh of the dec liration which I now mike, with confidence and pride, that, in all my nctims, 1 have brenaetinted by no pttsonal in I'ivcs sought no personal arindi7e nicnt -but, with .-inglencss of hcitt, have hifmre I for wrtatapBoiredto uietlic best inicrests of my coun try. ' I have often, Mr. Prcs'd n'.siid Mr. C b-ent'ieob j.-el of malice and delr.uiinn. I have home i', no always, ncrhips, with intie.ire. hut vvihout disturb Ob- not ancc reitecnng lint truth ami i isn-p ,, i n,it.. triumph, and that lime would setlleaj things and that lis u whim all ire responsible, wi uld finally ac quit mo of these acruitions. Every where, dining these trials, have I enjoved the hcncfil of warm, enthusiili , anil devoted fr ends who knew in I nppre'i.ated my m itivcs-lo whim, if I had hnguige to express my feelings, I Mould now offer my tha iks, for their Ion; continued persoml kindness. Hut whit -hill I siy Here Mr. Clay pain id -overcome with evident emotion what cm I tf.y in expressing my gratitude to the generous State whnao S-nrnnl I am? Forty five v.Mrs a"o I went I) Kinluokv-I wo.it ai orplnn-I ha I never recognizi'd a f.tiher's smiles. was poor, pennyless, vitbout ihc favor of the creit and willi an imiier fert and inidequalc education, tin no sooner did I Firt my foot on the generous s.,i of ilm .State thin I wis embraced with pilerml fondness, pitrouiz-d, ca ressed : and fiom tli.it day to tins, her choicest hon ors, without soliei ation oh my put, have been show ered upon inc. When I stood n nndnmil calumnia ted she threw her ample shield before, me, and fruarded me from the nlt icks of mv cnenii's. Iti, sir, with unspeakable pleasure that I am shortly to re tire to her bosom, and fimlly an I ni no dManl day my last lemainsare to npose un !cr her generous oil. Mr. President, a rceon l title haslncn bestowed on me whether in reproach or honor of Dictator. After drawing a contrast bctwtrn the poweis of a Dictalor of ancient time aid Ins own, he sail, if t have beu a Dictator, I think it imi't ho adni.t ed tint my piwer Ins been stiinrd with no blood, ami Hillied wi'h no I'iilionor-, an J tint I line voluntarily laid down my authority at a shorter pcrioJ than was allowed to Dicliloisin ancient 'hues. If to hive desired to see the disorderd exchanges nf thin country regulited-M seethe cniptv colilrsof rtio T,ennty r.-ple lis'ied-to extend rcl'ef to the bankrupt, ruined by the poliev of this government to curtail and limit the F.xecuiive action to preserve thecrjlitof the country by an ample icvenn if , in f.ne, a desire lo carry out every pledge which was fairly made by my fiicnds when struggling to acquire power if these eons ituto iiio a Dictator, then I am content lo bctr tlu Inn ir or odium of the title. The ardor of temperament which has charactciicd mv actions, his nodou1 1 si.tiet.mc- lolme.in niiin taining mv pinion and urging my incisures, ti usu language din igreeal le to my assochle- in this boily. If Ibere be any hire who cntertiin any feliugof dis. salisfii iion towaids ineon this account, I now offer Dtlicm the mo t ample npu'nyy. I nssme'ho Sen ale, one and all, that I leave theni without a fil ling of dissitisfiction towards thrin, or any one of them. In retiring, n I now do from thNbodv, I leave it with my f-Tveni hope that the gicit o' jee'is for which it w.i instituted nny be accomplished, 'hat its di lib eMtionsimy eventuate in iheprosirrilyofi urcoinlrv in the muintainanee of her 'honor nbroid and her interest at home. Mr. f!. albid, d lo the distress es of the cotiirry, and casting reproiehc on no one, on their account, he said they could not I. laid at his door. Al'er invoking the blessings of lleiven on ilm Senate. Mr. Clay closed, siying Mr. I'resi dent and .Messieurs Senators, I hi i you, one and all, a long, a last, an aUcclionitc. Fareircllt Mr. Crittenden's credentials wetc read, and he was q inhfied. Mr. I'resion then remarked on tho impression made on the minds of all by what had passed. It would Le considered as an epoch in our annals. Sup. posing the Senate had no taste for further business now, ho would move an adjournment, which was greed to. The Senate then ndjourned. Osriae Mr. Clay'e address there were many wet eyes. ' W are not lt stocks and stones." Ii is a fuct that many old Senator were melted. Mr lie,.. Ion exhibited inueli emotion. Mi. Calhoun lost no time to embrace Mr. Clay and asmre him of his per sonal affection and respect, lloth, it is said, were Washington. March .'iO. Immediately after the reading- of the journal this morniii"; the lluuse went into Committee uf tho whole on the Loan Uill, on motion of Mr. Fillmore. Mr. Athcrton claimed the floor, and com. menced a party speech winch continued until two o'clock, at which tune by previous- resolu tioii, it had been (ltcrinincd that all debate un the till before the Committee should cease. The ouestion was then taken on the amend- inent proposed by Mr Vio, by which it was provided that ti:e proceeds oi tne public lands should be pledceil for tho redemption of the loan. The amendment was lost ayebG'J, noes W. MrCainpbcll, of S. C. ofll'red an amsndinent sivhieh waa decided tu be nut of order. Mr. Wice moved to amend hy striking- out the wordJ "dunes on zootls. wares and incrcfiaii dizc." and inscainjr "the nett proceeds of tho ales of the public land." Lost, ayes 77, nues 10-1. Mr. Roosevelt moved to strike out tho suno ....... . ... words and insert "as much of the public lauds as wti purchased from France ami Spain by the Federal Treasury xf tho Union." Lost, ayes 71. noes 97, Mr. McKay moved to appropriate tlio receipts from the public "Iambi to the purchase of the stock at its market price, net exceeding par, nd that the slock issued under the bill be re. ccived in payment for public lands Lost. About a dozen auiendiRAntx were olll-red by Mr Cooper, of (ieorgia, all of which were re jected. Mr. Fillmore moved to fit n ad xulnrem duty of 'JO tint, on tea and colli-o to le set span ox a a distinct fund for the rndemntion of the loin Tho Clnir decided this amendment to bo out ofordor. Mr. Fillmorci then moved to amend bv strik ing out tccte and inserting Iwenly years, as tho term for the duration of the loan. This Mnsnd- mcnt wan adopted. Mr. Ihrnard ofi:rcd a rcrolulion which the Chairman (Mr. Ward,) fioclared to bo odtofor. dor. Ile enquired hr what rulo it was so doci. tied! The Chair replied"hv tradition 1" Ho tmk an sppcv, but the IloVej sustained the Lh.nr. A scene of groat tumult and confusion arose about this lime. A rlotcn memhera on their feet at the same time, and all vociferating- to tho uest ol their ability, and claitninir attention U numerous aineiultnenls. Wilh some difficulty something like order was restored ; and a num. her of amendments were oflered anil rejected. At Icnslh all were disposed of, tho comtnittee rose, anu me mil was reported to the House. Mr. Fillmoro then made some remarks in ref. crenco to the nature and necessity of tho re quired loin. Mr. W. Cost Johnson made sonic remarks, which he concluded bv moving tho previous qne.-tion on tho bill. Tho House then adjourned without coming to a vote on tins motion. In the Sen ile. Mr. Rives'' amendment tn Mr. Clay's resolutions, proposing to effect a repeal of the Distribution Law, met witli no better fate man did .Mr. Wise a amendment of a similar ten or in the Wousc. Mr. Bates of Mass. addressed the Senate up. on tbe subject of the Compromise Act, appeal, ing to the Southern men to stand by its provis ions as norinerti men nan been appealed tn. lie contended that the Distribution Act was a part of the compromise .principle. Mr. Clay said it was unfortunate that the tnnd li'.iestion had been introduced. Thiis must Le obvious now to every one. An honorable Sen ator from Virginia one day last week had intro duced the subject to the attention of the Senate and about the time an honorable member from Virginia in another quarter, (Mr. Wise) had in troduccd the subject to tho House. Subse quently the President of the United States had introduced the subject to Congress, and how such a recommendation had touched every Whi-r pulse was obvious. " Mr. Clay said he had hoped this question had been settled forever, ami that there Was not to he this perpetual change here in reference to this land question. The question bv every prin ciple uf l.o lor and equity was settled at tho ex tra ses din. Ti.eininl n CMt oi of r.o-ht ami justice, of truth mid bono-, would b shocked at such a pi-ai ceding as this tins interference with the staid and sober legislation of the conn try. Ho was for having t' e lai d rein' u : dis posed of as Congress hul disposed of it. Ho was for Laving the Treat ury replenished bv im posing u'ut.c.s upon foreign impoits. Our'doht was now four e .'ii n:i lmiis of dollars, ai d l.kely to bo nv re rather ihan less. Mr. C. sai I he would venture tho prediction that the land revenue for the present year woul I not bo mure than one million, nud how was ill s in such a debt, to aflitct tho interests of this country ! How could it get us clear of the lourtcen nullum deb'. Mr. Clay wont on lo argue the land nimctiun in a ! r f, bu1. very ab'e speech. The question vv-is considered upon its merits, unon tho mwi. turn of the grains of land to the? HOW K'nlnc and money lo the old, and in every aspect with a strength and force rarely emailed by tho ar. thnrof lite l.ind Hill. 1 he nniiner of Mr. Ciav in sneikinrr nf tho necessity nf permincnt legislation w,i.s"'pec.tiliar ly fervent and impicssivp, and seemed cuualJv lo .v.v.ik mi ge i :i-a' a'te.ition as we I to th. im portance of tho subject as a gcn.-r.il feelui' ol' the justice ol his sentiment.. Mr. C. suikc particularly in reply to Mr. Rives ami h ia rnsn. liition--, in the course o!' which ho said lie con sidered Mj-nensuoii oo.ial to rcncal. and rn.rrot. ted that a frond, (tho Senator from Virginia, Mr Kivcs,) should bu foremost in siist,tiuing a mo is lire c.alcuhted tn pierco the heirt of every whig and unsettle the entire legislation of the coiintrv. Aftcr a protricted hut animited debate, in which Messrs. Hive.-', Mangimi, Walker, Wood, bury, Calhoun, Wr u'l . a ,d P.eston mriirini. ted, the q iosiion was taken mi the ae'o,ition of Mr. Itiiin' amen l.iuiii, an I djc.djd in the neg ative as follows : Vea. .Messrs. Archer. Allen. ILn-bv. lion. ton, C.illiouii, Fu lion, King, l.iun, MoKtdierte, ' I res. on, Lives, Sei ier. .Smith nf Coiineiiciit. .Sturgeon, Tappan, Walker, Wilcox, Willidins, ' vv ooilburv. vvniT i'. i,oo r'.M. I Xays Messrs. Ilirrow, Dates, Ilerriun, C.'ioate ! - r ' . Clay, Clayto.i, I, vans, (ii'.ilnni, Uuntim'tnn : Kerr, Miugiini, Merrick, Miller, Murehoad l'nelps, I'urler, i'rentis--, .Simmon?. Smith of In. liana, Talhnad go, H'lnte, IVoodbridge MESS A (J K. To Hcu nnd House nf RcprrsrnLiiitn of the Viiited Sinks: Notwithsiainliu-' tho uriraucv with which I have, on more than one occasion, felt it my du ty to press upon Congress 1I13 necessity ol tiro. iding Iho Government with the means of dis barging its debts-, a id nriiutainiin? iuv o'ato the public faith, the incroising embarrassmen's of the Treasury, impose upon mn the indispen-i-hie obligitiou of again inviting vour inosteri. o-is attention to the condition ol t .o finances. Fortunately for myself, i n thus bringing this important subject lo your view, for deliberate and comprehensive examination of it in all its hearings, and I trust I may add, for a final ad- juslinent of it, to the ennunnu advantage of the wnoie union, i am pRruiitcil to approach it with perfect fretleoin and randor. As few of llm burdens for vvlrch provision is now required to bo made, have been brought upon the country dvrir.giny short administration of its aflTiira, t have neither motive nor wish to make them a in liter of crimination aganiatanyof my prede cessors, t am disposed to reianl. as I am bound to treat them, ns fads, which cannot now bo undone, and as deeply interesting to us all, and equally imposing upon all, the most solemn duties. Andthn only use I would make of tho errors of tho past, is, by a careful examination of their cam.es and character, to avoid, if pos. siblc, tho repetition of them in future. The condition ol the country indeed, is such as may well arrest the conflict of parlies. Tho con- viclion seems at lenslh to have made iu to the minds of all, lhat the disproportion bo. tweeu the public responsibilities, and the meins provided for meeting them, no casual nor transient evil. It is on the contrary, one who must, for some years to come, notwithstanding a resort lo all reasonable retrenchments, and tho constant progress of the country in popula. in... ouu jMipiiiieinc power, coniiuuo to increase unuer exiling laws, unless we consent to give up or impair all our defences, in war and nu .c. tiut tins is a thought which I am persuaded no patriotic mind would, for a moment entertain. Uhout alTuctini; an alarm, which I do not fnnl. iu regard to our foreign relations, it imv ftafV.lv ue aiarmcd, mat they are in abtate too critical, anu invoivo too mmy momentous issues to per mil us to neglect in the least, much less to abandon entirely, thoso means of asserting our rights, without which negociation is without dignity, and peace without scrum,-. In tho Iteport of the Secretary of theTroas. ury, sublimed to Congress at tlio commence. nieiii oi mo present session, it is cst.mated that aftor exhaiibtin? all the nrnbiblo m.mrn.j nf theycir, thera will remain a deficit of nb-jut 9w,iin',uuu. v un a view partly to a perma. nent system of revenue and nartlv to imin,ii. ate relief from actual embarrassment, that of. . .. . ----- ---ft-. .v. . a uiau ior establishing n Government Kxrhequer. some expedients of a more temporary character, viz , the issuing of Treasury miles, and the e.xtcnl uccr recooiiiiumieu, logetner Willi a plan for sion nf the time for which the loan, authorized to ba negociated by the act of the last session should bo taken. Consres-s according lv nrovi. dod for an issue of Treasury notes to the amount of S.'),(XKI,0;K), but subject to the con. uuiun 11141 iimv SIIOU (1 not in nn ,1 inn, lu.ln... par. No measure connected with the last of .im iwo oiyccis aii'ivo mentioned, was introdu ccd until recently into tho IIouso of Represcn tatives. Should the l,oan bill now pr-nJin" be fis.r. I.-. L. -.1.. . . u4, uiiui- na mm a lor its proem amount, there would still remain a deficit of 82,000,001'. It requires no argument to show that such a condition of the Treasury '.a incotn. patiblo not only with a high state of public credit, but with any thing npproachlng to effi. ciency in tho conduct of public alTtirs. It must be obvious-, even to tho most inovperienced minds, that, to say nothing of any particular ox. igency, actual or imminent, there should ho at all limes in the Treasury of a great mtion, wilh a view to contingencies of ord niry occur, rence, a surplus at least eq Jal in amount to the deficiency. But that deficiency, soriius as it would bo in itself, will, I am compelled tn say, rather be increased than diminished, without tho adoption of measures adequate to correct tho evil at once. The stagnation of trade and business, in somo degree, incident to tho di rangoinent of tho national finances and the state of tho revenun laws, holds nut but little in prospect of relief, in the ordinary course of things, for some time to come. Under such circumstances, I am deeply im. pressed with tho necessity of meeting the cri " with a vigor and dec sion which it impera. lively demands at the hands of all entrusted with the conduct of public affiirs. The grav ity of the evil calls for a remedy proportioned to it. No slight palliatives, or occasional e.pe pedients, will give tlie country the relief it needs. Such meisurcs, on the contrary will, in the end, as is now manifest to all, too'surelv multiply its embarrassments. Relying, as "I am bound to do, on tho Representatives of a I ooplo rendered ilbjstrious among nations, by having paid off its whole public debt, I shall not shrink from the respon.-ttility imposed upon tne by tlie Constitution, of pointing out such measures will, in my opinion, ensuro adequate relief. I am the more cncoiirageJ to rcc.om mend the course which necessity im. l,,nl.n confidenro which I have in its complete sue cess. 1 he resources, of the country, in ovorv thing that constitutes tho wealth and strength of nations, are no abundant, the spirit of a most industrious, enterprising, and intelligent Peo. pic, is so energetic and elastic, that tho n. eminent will be without tho shadow of excuse lor us Delinquency, if the difficulties which now porplov. and embassim it. IA not cnaA.tilt. and clFt'ctually removed. from present indications, it is hardly doubt (til that Coiitrress will lio.l it r-.L,.. . i ... a Iditioml duties on imports in order to meet thi ordinary current expanses of the Govern ment. In tho cAcrciae of a g mud discninina. tion, having reference to revenue, but at tho samo time necessarily affording incidental pro. toction to ni.inufa-turiiig induslrv, it seem equally probable that duties on t,oine articles ol importation will have to be advanced above () percent. In performing this important vvorkol revising the tariff of du les. which, in the nres. ent emergency, would seem to be itidispBtisa- u.c, l cannot too strongly rccntnnrsnd the culti vation of a sp r t of mi tU il harmony ami eon. cession to which the Government ((unit iiu-in its origin and withojt tho continued exerci.-e of which jammr and discord would nnii-itcdi llu prevail. . ' An additional reason for the increase nf du. ties in some instances beyond the rate cf 20 per cent., will exist in fulfilling tie rccoinmen. I. itions already made and HOW rfooalMif. r.l' tin. king adi-ii'iato apnronritioos for tin. dnfnneo r,r the country. lly the express provision of the act distribu ting the proceeds of the public lands among the .States-, its operation is, ipso fuclo to cease so soon as tho rate of duties shall exceed the lim its prescribed in the net. Ill rCCOininUUlllllLr tho adontir.n r,r ,nn.,s f.,. distributing the proceeds of tho rmht;.- iu,l a...ong the Slates-, at the commencement of tht' last session of Con urged by arguments and cou.-iderations wh eh app-nred to me then, and appa.ir to me now, of groat weight, and was placed on the condition that itshould not render neccssiry any depart ure from the act of 15:33. It is with sincere regret that I now perceive the necessity of de parting from that act, because I am well aware tint expectations, justly entertained by somo of the Stales will be disappointed by any occur rence which shill withhold from them tho pro ceeds of the lands. Jt jt the condition was plainly expressed in the Message, and wa? in serted in terms equally plain in tho law itself; and amidst the eui'iurMssinents which surroun ded the country on all s das, and beset both the iienoral and the htatc liovcrnuijiits. it anna irs to 111 that the rililnetK tir.t fiml Iti.rlmct ;, porta.'ice, is to c,lablish the credit of this Gov- oriiinent mid lo ol.ien it n i d.im'ilo r,,,,,, t ,t,., i and thus alKird the most elijctml supnnrt to tho ,.r,.,l , ..f ii.,. . .,... i i . ..u.uw. .tiik..-, ei rial, il itj.is lu w .11 Li '011111 rocoive from a direct distribution of the i proceeds of tho siles ol tli-j p ibhc l.mjs. i sales of the ii iblic lands lien the IJ.stribiitiou law was pas-cd, there 1 was reason to anticipate lint tl.o e soon would be a reil stirilus to distribute. On tint as. I sumption, it vv.i--, in my opinion, a w:se, a just, nd a beneficent measure. B il to continue in force, while there is no such surplus to dis. tribute, when it is manifestly necessary not on-1 ly to increase the duties, but at the same tiin-j to borrow money in order to licriiihle the iiuhlic dub', and disembarrass the uublic Treasure. would cause it to bo regarded as an unwise a!, ienationnf the best security of the public crod itor, which would with d.fliculty be excused. aud could not he justified. louses of no ordinary chuacter have recent- ly depressed Annrican credit in the slock inir kel of the world to a degree quite unpreccdeii ta'. I need scarcely mention the condition of the banking institutions nf so'iio of the States the vast amount of foreign debt contracted du ring a period of wild speculation by corpora, tious and individuals, and, above all, tho doctrine of repudiation of contracts solemnly cu'ored into oy ?.i.es, which, auuougii as yet appiicu only under circumstances of a peculiar clurac. ter,' and generally rebaked with severity by the moral sense oi uiu community, is yet so very licentious, and in a Government depending wholly on opinion, so very alarming, that the impression mule hy it to our disadvantage, as a people, is any thing but s ipprisiug. Under sucii circumstances, it is imperatively due from us lotuo people vvnoui we represent, lliat when we go into the money market to contract a loan, we t-houid tender such securities as to causo the money-lender, as well at home as abroad, to feel that the most propitious opportunity is afi'or ded him of investing, profitably aud judiciously. hi capital. A Government which has paid oil' tne dents oi two wars, waged with the most iwcrful nation of modern times, should not be brought to the necessity of chaffering for terms in the ino.icy market. Under such cir cumstances as I have adverted to, our object snouiu oe toprouu e wim mo capitalist a feel ing of entire confidence, by a tender of that sort of security which, in all times pat, has been CBteeuied sulficient, and which, tor tho small amount of our proposed inlebcdtucss, will unhesitatingly be regarded as amply adequate, while a pledge of all the revenues amount to no more than is implied in every instance, when the Government contracts a debt, an I altho it ought under ordinary circumstances, to be entirely satisfactory, yet in times like these, tho capital. ist would leei uetter satisfied with the pledge of a specific fund, ample in magnitude to the payment oi lus interest, and uitimite reimburse. inonl of his principal. Such is tho character of tho 1.1 nil fund. 1 lie most vigilanl monev dealer will readily perceive tint not only will his inieresi oe secure, on sucn a p'eu e, bill that debt of 619,000,01)0, or S'v'O.OOO.OOOrwould by the surplus of sales over and above tho n iv. iiieui oi mo lutfresv ii.icu ior us redemption, bo exting rshed within any rersouablo time To relieve tho Treasury from its embirrass. inents, and to aid in meeting its requisitions, uiiiiiiiuiB is anow tu ior any new tarill ol du
tics to becomo available, it would seem to ha necessary to fund a debt, approachm" to Sl.ri. 000,000, and in order to place the nc"icia'.ion r 1 1 I - t . i . . oi uie loan ocyomi a rcasouauio iioutit. I mi i. mil to congress vv del tier Ine proceeds of the 'sales of the public. lauds should not bu pled"ud for tho payment of the interest, and the Sncrn. fary of the Treasury be authorized out of the surplus oi tne proceeds ol such sales, to pur chase the stock ; and also when it ran bo nm. cured on such terms a, will render it beneficial in that way to extinguish the debt, and prevent ui-j .ici.iHuiii.il wo oi mien surplus, Mil , jt ilir .liu'ioii ' Mypeiulfl. ( No one can doubt that, were tho Federal I Treasury now as prosperous as it was ton years ago, anu its tiscal operations conducted by an elfic.innt agency of its own co-extonsivo with the Union, tho cmbarrassmonts of tho Stales and corporations in them would produce, even if they continued ns they arc, (wore that possi. ble). ctfijctsi far less disastrous than thoso now expcre-icrd. It is t'10 disorder here, at the heart and centre of tho system, that paralyzes and deranges every part of it. Who docs not know tho permanent importance, not to the Fcd'ral Govern nent alone, but to every State ind every individual within ilsj irisdiction, rvon in their m ist hidopen lent and isolated individ ual pursuits, in tho preservation of a sound state of public opinion, and a judicious adininistra. tion here I Tho sympathy is instantaneous and universal. To attempt to remedy tho evil of' tho deranged credit and currency of tho States, while the disease is allowed to rago in the vitals' nf this Government, would bo ahopolesi under taking. It in the full convi.'.tion of this truth which emboldens mo most earnestly to recommend to your early and serious consideration, the meas. ures now submitted to your better judgment, as well as those tn which vour attention has al ready been invited. The "first great want of the country, that, without answering vvhic'i, all at tempts at bettering tho present condition of hi gi vv ill prove fruitless, is a comp!eto rsslora. turn of the credit aud finances of tho Federal Governnunt. The source and found itioti of all credit, is in the confidence which tho Go.'crument inspires, and just in proportion as tint conlidjnco Hhall ho shaken or diminished, will ho tho distrust a nong all cltsses of the community, and the lerangement and demoralization in every branch nf business, and all tho interests of tho conn. 'ry. Keep up the standard of good faith and ptnic.tiia'ily in the operations of the General Government, and all partial irregularities and disorders will he rectified by the influence of its example ; hut sullbr that standard to bo debased or disturbed, and it is impossible to forcsoc, to what tlcgico of degradation and confusion all financial interests' public and private, miy sink. In such a country as this the Heprcsen tatives of the People have only to will it, and the public credit will be as high as it ever was. My o.vn views of tho measures calculated to ofitfCt th s great and desirable o'-jecl, I have bus frankly expressed to Co-igress, under r.ir uustanccs which give to the entire subject a peculiar nud snlem i i itcrcst. The tivcr.utivo can do no more. If the credit of the country he.oxposed to question, if the public defences lie broken down or weakened if the vvho'c ad ministration of publi-j alftirs be embarra.-e.l for want of the necessary means for conducting them wilh vigor and efiect, I trust tint this Do partmctit of Government will be found to have done all that was in its power lu avert such evils and will be acquitted of all just blame nn ac count of them. JOHN TVLBIl. F O It E I G N. Tin: Guf.at Mrxican Invasion. It turns out that the iMuxicnn iirmy off'tHirteen thous and men, which reci-ntly invaded Texas, wero some two or three hundred irregular and predatory iuhliers. By tlio nrrivsil of the Neptune at New Oilcans, news from Galveston, two days lutier, lo tlio lOtli of March, has been received. From.c Cour rirr of the 2iJ, wo trnn-d.ito the following : "It now appears that tho Texnns allowed llicirfearstogel the beltei of their judgments, so far as to nugiiifv fivo hundred regulars and two hundred ami fifty ranclieros, into a corps of fourteen or fifteen thousand men. Rut Houston says tho Mexicans shall pav for al, inning his peoilo, suid declares it to l liis determination lo curry on tlio war until Mex ico acknowledges their independence. It appears that Colonel Vasquez, who commanded u small corps nf Mexicans on the Rio Grande, thought proper to nia'kc an incursion into Texas ; and that, so far from meeting with any resistance, he created such a panic in the southern counties of Texas, that the plantations and villages were aban doned before ho reached theni. Tliut'ilvnf .... "'!X'"' sllr''t'''lJ'''"',l! 'itliiiiil resistnuci', mid nil the wom in mid anu riiiiiire.n in Austin, wilh smut! of the good and chittels, were removed. Colonel Vasquez, however, advanced no farther than Rexar, nor did he slay in that plate lung wMnng to secure his booty, and informed of the gatherings of tin: Texans in ....... I... I i.:.. ..i ,. , mill,, in; ii,-i;,ii! in, luiit'.ii 10 tile Kill UIUIKIO before thu Texan forces approached. It appears parties of Indians had invaded Texas uhout the saniii time ; hut wo aro not informed of any groit d.itiugis thoy did." Fkom Ti:as. Hy tho arrival of the steam ship Neptunr, from Galveston, wo have received our files of Texan papers lo th.) 10th inst., aud a number of private let ters. Besides these wo have been fivored wilh the perusal of various official documents which unable us lo give a summary of thu news, and indications of future movements that may be rtdied upon. From iho last advices, tho Mexican forces, after plundering San Antonio, had begun their retreat to the llio Grande, loaded vvnli spoils. The impression in Texas was, that the invading army was comprised principal ly of Mexicans residing near (he border. Tlio circumstance of their being command ed by General Officers, left no doubt of llio national sanction to tho incursion; but thu retrog ido movement created the belief Jhat the descent upon thu country hud been prematurely made. Gen'l Hurleson, at the head of 1,500 men was pressing forward with all despatch to overtake the enemy, with every prospect of being able to accomplish his object as the Mexicans were too much incumbered wilh spoils to uiako a tpnek retieat. h was tint intention ol Gen I IJiiiIcmhi to cross iho llio Grande, and maintain a position in the ene my s country until driven back by un over powering force. A body of l,.r00 men was being concentrated to support Gen. Hurleson. 1 ho most important intelligence hmtii'ht by the Neptune, is tho certainty of tho in- ision ol Mexico, bantu Anna has raised a spirit that lie can nuver lay. His letters to Colonel Keo nud General Hamilton had reached Houston, and dispelled everv lin- cering doubt of bis intention to violate thu assurances itiado lo President Houston of procuring the recognition of Texas. Tint publication ol'tlii'Mi tellers, llio tone of insult und defi men that pervades lliem has stimula ted tlioentliusiuMii ol tlio people, ami brought tho gtivcrnnienl to tlio support of llio pop ular will. On tho 17lli instant. President Houston caused the following letter, in the nature of a proclamation, to he issued through tlio puuiic press. Cirv oe HousTo.v, 17th March, 1842, Dear Sir The news by express from Austin up lo mo lUtli instant, is that llieene my have evacuated San Autumn, after hav . i ... i i .i . .... ' . . ing piuuuereu uie place. Tliey wero laden down wilh baggage, and march s'low ly. Col onel Hays is harrassing ihom on ll.o'r march. They only march about eight miles each day. The troops from Austin, ar.d llinso on the frontier aro inarching to overtake ami heat tliein. War slnll now ho aged iig.uuit Mu co, nor will we lay our arms nside until wepplied to the Mexico Coniul licro for n pass- ,adc, morn , V . ! have secured tlio recognition of our indepen- bf, , ,raVt., lhrou ,, ToJIM.. anJ ,, le LrthutlonllJlT ' dunce. Until then I wi never rest satisfied, ,., M n , " . ,, , ,. m., , . 11,0 Tories nro or nor will the people of Texas. We invoke Nuw 0tlni "' Mcam sl""' i"'clinn.o.,dment, 50 enamored tnu uou oi Armies. Yiiur friend .1 n m HOUSTON. Mr. II. Stuart." Our private letters nssuro us tlint tlio inva sion of Mexico is inevitable. Tlio peoplu h.ivo for n long tnnu lienu anxious for it, nntl tlio government Intuit length come into their views. The Republic lias taken the ground shn ought to have assumed from tlio begin ning oilier niilinntil existence. Wo have, before us an official letter of pres ident Houston, from wliHi wo make a fow extracts, evolving nioTe distinctly the object now in contemplation. " If troops should hn raised in We leave this blank to bo filled by tho imagina tion nf our readers. litis. at the call of flr'rs government, prepared for conquest, they may rely upon tho fact, that they will bo til lovved the privilege of iho Texan banner to cross t'le Riu Grande uud pursue conquest lo the walls of Mexico." Another extract will perhaps open up vis ions ofromancolo nrdent minds, so bewitch ing in their character that we cannot refrain from inserting it. It is in these words: Tim recompense tendered to our friends will bo the property captured by lliein upon the most exulted principles of honorable warfare, and tho soil which they conquer clory, victory and imperishable fame I Mexico has invaded our country, and her dictator has declared lhat tho Anglo Saxon race shall bow tn the will of a despot!" New Orleans lite, 23r March. TEMPERANCE GRAIN, An important change is in progress in re lation to two descriptions of grain, for which the consumption lias been of late years very great vvn nlliide to Corn and Rye, The va rious distilleries in this city and Brooklyn have for siiiiio lime past taken from four to fivu thousand busltrls of Corn and Rye each day to keep them running, which is nnn mil lion two hundred thousand bushels per an num. I liistli'inaud licing constant and stea dy, aud the cash always paid, it has brought to this market this increased supply. A great change has already taken pi ice. Some of our largest distilleries have stopped work ing altogether ; others will slop and the bal ance am not working but about half thei usual quantity. The consumption of Grail is now but about two thousand bushels a day and in a few (lavs it will he about fifteen hun dred. Se great is the falling ofl in the con sumption of spirits, that not only is the stuck kept up by the half working of distilleries, but the supply ol whiskey in tho market is greater than it lias ever been known to be, and is selling below any former price. N. Y. Express. FRIDAY" MORNING. APRIL, 8. 1942. LAKE CHAMPLAIN. Rrond Lake is novy clear of ice, and ''"e indications are favorable for nn early navi gation. Tho WiiHiosli Steamer, Cupt. An derson, canio out on Monday, and has since plied repularly to Port Kuut and I'laltsliurgh. A very few days will unable her to extend her trips to thu Island and St. Allans. The line boats arc ready for service the moment tho tco leaves tho narrow parts of the lake whero it is now very tender and vvcthiiikit ni ) re thin probable lhat they will conimencj their regular trips by Monday week. Mil. CLAY'S VALI-: DICTOKY. The farewell address of Mit Ci.ay to the Senate will bo found in another part of our paper. Ol course it is not necessary for us to direct thitherward tho utteiilion uf our readers. Touching, eloquent, ami dignified, tho last words of the veteran statesman tiro said to have thrilled tho gravest Senators with an emotion which they could not re press, antl lo have drawn tears from the eyes of every one of tin: vast auditory with which the Hall was thronged. Even Mr. Calhoun and Mr. Benton, forgetting for tho moment their political prejudices, wept profusely as they grasped the hand of the noble nntl warm hearted Kentucky an and bade him a final farewell and tho whole Senate crowded around him to grasp his hand for the last time and bid him adiue. REPORT ON THE TARIFF. Mil Saltiinstai.l, in behalf of tho Com mittee on Manufactures, presented lo the House of Representatives of Congress, on Thursday, a bill regulating the duties on Im ports, with nn accompany ing report which was referred to the Committee of the Whole House and the House ordered tho printing of 5000 copies, in addition to the usual num ber. The only items of tho details of the bill reported which we have been able to gather, nro tho following. It proposes n duty on woollens of forty per cent, ad valo rem ; on coarso goods, thirty per cent ; on fmo cotton goods, u specific duly ; on rolled iron, l'.ngliii iron, twunty-nvii Hollars per too ; on hammered, or Swedish iron, seven teen dollars ; pig metal, eight dollars per ton. LAND BILL SAFK. The Whigs, by a simultaneous movement in both lloiihcs of Congress hive rebuked and re pudiated the attempt tn repeal the distribution law. This prompt action against an ill-judged Incentive recommendation, will be bailed with joy all over the Union. The distribution law was Iho great crowning measure of the extra session of Congrc, and wo rejoice to find our Whig friend standing by it with firmness and integrity. WAI1 NKWS. The fourteen thousand Mesirans who were said to have invaded Texas, turns out to be a marauding party uf less thin as many hundreds, who, having plundered a town or two, made off with all convenient speed. Hut tho Texans, as will be seen by tho account, were in hot pursuit, and '. of marching to Mexico. That these Texians will some day be knocking at the gates of the Mexican Capital we have no doubt; but not just at present, we imagine. The New Orleans lite of the L'2d, says, lhat "yesterday evening Mr. Sruxcun, son nf llin Secretary of War, arrived post haste from Washington, with despatches for Pres ident Housrox ofTrxm. Wc lenrn that lie ("ima A Protcctivk Taimfp seems now ho the great rallying cry of the Whig papers iu nil the Free Slates of the Union, lo New Eng land particularly this is the case. And perhaps nioro ihan any other paper in the Union the ISoston Atlas has made PnoTtx tion the prominent topic of discussion in its columns. Its Editors have collected avast amount of statistical iufnrmnlion' re lating to this subject, not "only from every section of our own country, but from Russia, England, and ihe British Colonies generally. They have prosecuted their enquiries with a zeal and industry which cannot he to highly praised ihey have examined tho Tariff question ill all its bearings, discussed llie subject wilh such ability, and presented it lo their readeis, ilia light so convincing and so clear, as to form conviction upon the mind of any man, who has been at all familiar wilh their columns, and is nut gificd with a stranpc obliquity of intcllcrl. Wo under stand that tho conimilleo on Manufactures in tho House of Representatives have re cently sent from Washington for files of die Alias, that they might avail themselves of the statistical information which it has col lected in relation to the Tariff. This was a compliment as marked ns it was well merit ed, and sliows that this excellent journal has not degenerated at all but rather improved since the death of its late lamented editor. WHIGS AND TO K IKS. These nro the names which we have ap plied to the two great parlies into which the Country has for years been divided. Hut our contemporaries of the Sentinel and the Vermont Patriot manifest alittlo uneasiness on the subject which wo will endeavor to re lievo at our leisure. They dispute tho pro priety of the name Tory, which wo apply to their party. The Sentinel says it is not teiV ty, und both tho Patriot nud Sentinel unite u the opinion that it is in bad taste. Now hn of tho Sentinel is certainly u very ice tious gentleman and of course no appeal can be taken from so high an authority in mat ters of wit. Aud both of the journals in question are so distinguished fur refinement of feeling, and courtesy an I elegance of dic tion that they nro admirably q i ilifud for ar biters on thu subject of taste, and wo accor dingly bow with becoming deference to their superior judgment. We mid last week that we did not use the term Tory for iho wit but for tho truth of it fortho fidelity with which it describes the principles of tho party to which wo ap ply it. We never could see the propriety of stvling I hem Loca Focos, and to call theni Democrats is a gross perversion of language. When wo have spoken of them therefore we have generally termed them Tories. A To ry, says Dr. Websicr, in his great Diction ary is "One of a political nartv which had its orern in 'Kn.'landin the sovcntei nth cinlury in the rciftn of v mint's i or il wiun (trcai couii'sis rtisircl nspec ling uie roy.il prcrogauvc anu ine riitnis of trie lu-o-"ph-. 7Vioe tr.'iu tupportul the King, in Ai higU 'iiuiwu, ire rwiru ionics, unii me uarocatts aj jii "uf ir righti Ktrt called Whigs." Whatlanguago could more forcibly mark the difference between tho V lugs and Tor ies in this country than that part of Du Wkiuteii's definition which wo havo put italics. The Whigs aro iu favor of amendment of the Federal comtitution 'whica, 'il,0 veto power shall bo modified und our republican pposed to any 1 ti rn flint villi tins branch of ,1D lllnjal Pe fllW. 1 lie W lugs am,,. Tuvor of Umit.Uioii ofex ecutive power m other rc.peci,, and a res triction of executive patronago-,1,0 Tories are opposed to any such inlcrfcrance of tho pooplti with theso "high claims of tht Kinn." Tho Whigs opposed General Jackson inalt Ins nrlitrary, arrogant mid Ivranical nn.. bis frequent exercise of the veto power, Ins oayiam oisregaru oi tne will of the People, his insolent bearing towards Congress, and his alarming opposition to the decisions of llin Supremo Court -the Tories sustained him in every nnn of these arbitrary acts, and tho morn haughty and arrogant his conduct the more tliry lauded and admired him.- The main fault the Whigs havu found with Pres. lytcr ?s his thwarting the will of tho People, as expressed by Congress, hy the in terposition of tho "Royal PrcroraUct"- this is the onfy part of his conduct which tho Tories npplaud. The Whigs support tho right of petition tho Tories oppose it, tz crptichcn the People pray for lehat tht Government chooses io grant. Tho trliigi say it is the duly of the Government to pro vide a currency for the People the Tories say "let the Government tako care of itself and the People themselves." The Whigs say that il is the right of the people to bo protected in their industry and labor as much is in their property and lives, und that to ocuro this object it is the duty of the Gov ernment to impose a TarilJ adequate to af ford such protection tlio Tories sav it is only the duty of the Government to imposo a 1 anil sullicient to raise a revenue for it self, and that the "labor and industry of tht People should regulate themselves." Theso me some of the points in which tlio two par ties differ, and wo appeal to an intelligent Pet plo to say whether ihis ilifTrcncc can bo more justly cxpiessed than by the phrases wilh which this article is headed ? Are not llio Whigs in the language of Dr. Weiisteu's definition, "thcadvorates of popular rights," and arc not thu Tories "the supporters of tht King in r.s high claims I We p.iuso for a reply. HEAR THE FARMER AGAIN. We commend iho following communica tion lo the careful pcrusual of our friend, tho Major. Wo havo heard it said that ho was not fond of mathematics in his more youth ful days, especially while he was in college. But as ho now "affects figures," ho can not complain of thu farmers for criticising his pe culiar method of ciphering, on tho Tariff question. Wcs'ford Vt. March 23d. 134t. Mr. r.ditor, I received the Spirit of the Age whith you sent mc containing a tcp'v to my communei- tion published in your piper a few weeks aco. I am not much of a scholar, but the reply nf the Age strikes ine as ihe-inost curious spec men nf Tory logic which I have seen for a longtime. 1 shall only notras thu following paragraphs. ".It -fOcents per i nun.l, it would take 125 pound of Ihc farmer . wool lo lu,y S. worth nl broad cloth nt ?l,nO per yml. and his li", pounds of wool would nroiinl to 3fj0. Thin, if a lanfl'ol'SO prr cent on his wool, be raised, and Ihe pri r of his broad cloth be ini riaid :0 per cent, ns wo have i-rrned. his I2i pounds of wool won d brins him 6,CC ind his broad chub would ci i him SO 00 ! Now we repeat vv h il has he made by ihe protection on this atliclr, to much as lie wi-hts to use orii ? lint as the I'rre I'm affvef taLles wc will humor the lien h inan in lhat line, a illle. To nuke, the case clear, wc uill la1 c rnourh out of the "Wesiloril t-armcrV wool, In-says hernias 5C0 pounds, to pureha-c his bread cloih, und put the nut. ter in this way. lie buys of iIi'k merchant five yards of broad cloth, at il.OO, per yard. rjg In a few- vvn k h- hr iil's the nn-rr hnnt enoush ' woo1 to pay, r.'.'i pounds, and his wool then lumps him, nt -lOcenl s er poun I, $3 00 ow-, it, a- wc supposed, on the broad cloth, ' J ou raise a Tanll'of 20 cents per j.ird, or 20 per e entit'n, which is the samelhinf, es wo pul the e'oth at 91.00. his live yards of cloih would cost him at $1,20 per yard, tS CO Then, lliepricenfhisvvool'rinnrsuedin the ' sinie properdin wo Id brine him, t5 0C And lus halan e would be, as near as ' you can !-et il." j-j.q In my other communication I aked if it was poni b'ellnt i:.istmon wassost pid nj not to see what bmefil w-Mild rtstili to the tinners from an merest of rtrrttcti. n n... f ., ... ... "'" now-fee mat nis s-tipidily i eiunl to almost nnvthi -pj it exceeds my comprehen. nun. IV instance he sajsin the above pnr.icrsphs lhat it would take 123 poun Is of wool, at 0 cenis nr. paunJ, to buy five yirds of broad cloth nt ono dtl larper yard ! I thought nt first that th was a mif taU of the printer, but as it is rercnled several times, and as he also says in the same article, lhat 125 pounds of wool at CO cents a pound would only brintr tUdoU Atrs, I nm sat sfied that Eastman's calculitions ire founded upon a different s)slem of Arithmetic flora any lhat 1 have ever seen. I suppose he ciphers ac cording to the true V'ory rule a rule which dimin ishes quantities I y nildition and multiplication and in crctists lliem by s blracnon and division. Hy this ru e Ihe Toiies are enibled to prove lhat the cjpen-se-s of Van liurcN's Administration, at.ory m'llions a year were less than theAirrVm millions whiih Mr. Adams expended annually. And that Van lluten wis frugal and economical while Mr. Adams was profli gate and cxtrnvngan'l. Nut, Mr. Kditor according lo inyArilIimctic(atidIusctbclriic HVnV edition! 125 pounds if wool at sO cents a pound would brine m 330, and ihe same number of pounds at CO cents a pound would bring 873. This is the difference bt twecnihe IHiiyand Tory method of ciphering. In my other communication 1 showed that. If ih Tariff- bould be raised, 1 should gain 809, a year on my juupounusot wool, i.aslman says I should on ly gain 834, which I suppose resnl s from our difTei. cut modes of ciphering Hut Iho Are proceeds with the argument! and atk's wlnl I shall do with my l... IT L!. ' - pruiu Hear him. Hit, suppose you hare made 434,00 clear, what are u gi ing to do wilh it 7 Ifvoii lav h in ebesi il is no bellrr than tenpenny nails to you or any body else. The most nn tiral ihing for you to do would belopurchise more shn-p, as you cleared vour 811.00 raising wool. Hut theincriascd price of wool has raised tlu price of sdirrp, to that the -xira sum you will pay for everv fberp you buy will ent nwsy a portion of your $34 00. Will you buy horse and cattle lo stock your firm 7 all kinds of slock have ris. en in price : what will you bin on which the price it nol raised except Labor 7 nnd thai, God help Iheposr man! lli.H does nol need protection ! Now I knew that lluchanan Van Iluren Wood bury ,V co, vvcie in favor of low vases, but I never be fore heard it urged as an objection toa protective Tar- that it wild I increase t tic puce of ihe farmer's productions. Hut ihese Tones arerry clear headed men, and 1 suppose that, being only a plain farmer, I must knock under to ihcm, I will therefore con clude my communication, by asking Eastman ens ipieslion, in answer to his humbus; about Ihe poor la borer. Will not the farmers be able lo pay their hired men much greater wages when every thing they raise on lluir farmi brines hkh prices, ihan when they aro compelled lo sell their produce fir Utile or no-hing 1 Hut I suppose Eastman will tako shelter under lh Tory doctrine of "lov traces." A WKSTEORl) FARMER. Splendid Present t an Nurris the cidebrated I'hif American. Mr locomotive cn- in 1 nl, maker, has received from the Emppror nn1 of Russia n splendid rinr, valued n $6000, by as a compliment to his ikill aiJ injrnuiiy.