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2d lieut. G. W. Gardiner, to be 1st lieut. 20th April, 1818.

2d lieut. C. S. Merchant, to be 1st lieut. 20th April, 1818.

2d lieut. Nath. G. Dana, to be 1st lieut. 20th April, 1818.

2d lieut. John Monroe, to be 1st lieut. 20th April, 1818.

2d lieut. J. S. Allanson, to be 1st lieut. 20th April, 1818.

2d lieut. L. G. De Russy, to be 1st lieut. 20th April, 1818.

24 lieut. Thos. Childs, to be 1st lieut. 20th April 1818.

2d lieut. Jac. Sch muck, to be 1st lieut. 20th April, 1818.

2d lieut. Charles Mellon, to be 1st lieut. 20th April, 1818.

2d lieut. John S. Pierce, to be 1st lieut, 20th April, 1818.

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2d lieut. Allen Lowd, to be 1st lieut. 20th April, 1818.

2d lieut. G. S. Wilkins, to be 1st lieut. 20th April, 1818.

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2d lieut. J. Ripeley, to be 1st lieut. 20th April,

1818.

2d lieut. Tim. Green, to be 1st lieut. 20th April, 1818.

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3d lieut. C. M. Eakin, to be 2d lieut. 20th March, 1818, vice Beall, promoted.

Sd lieut. M. A. Patrick, to be 24 lieut. 23d March, 1818, vice Dix, promoted.

3d lieut. Edward Polk, to be 2d lieut. 2nd April, 1818, vice Henderson, dismissed.

3d lieut. David C. Nichols, to be 2d lieut. 20th April, 1818.

3d lieut. John Gassaway, to be 2d lieut. 20th April, 1818.

3d. lieut. Wm. Wright, to be 2d lieut. 20th April,

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24 lieut. Truman Cross, to be 1st lieut 2d January, 1818, vice Paulling.

2d lieut. Isaac E. Craig, to be 1st lieut. 20th April, 1818.

2d lieut. C. M. Thruston, to be 1st lieut. 20th April, 1818.

24 lieut. H. W. Fitzhugh, to be 1st lieut. 20th April, 1818.

2d lieut. J. Davis, to be 1st lieut. 20th April,

1818.

2d lieut. E. Humphrey, to be 1st lieut. 20th April, 1818

2d lieut. D. S. Andrews, to be 1st licut. 20th April, 1818.

2d lieut. N. G. Wilkinson, to be 1st lieut. 20th April, 1818.

2d lieut. Elisha Brimhall, to be 1st lieut. 20th April, 1818.

2d lieut. H. H. Minton, to be 1st lieut. 20th April, 1818.

2d lieut. H. K. Mead, to be 1st lieut. 20th April, 1818.

2d lieut. H. M. Simons, to be 1st lieut. 20th April, 1818.

2d lieut. J. S. Abeel, to be 1st lieut. 20th April, 1818.

2d lieut. W. T. Willard, to be 1st lieut. 20th April, 1818.

2d. lieut. R. H. Lee, to be 1st lieut. 20th April,

1818.

2d lieut. Jesse M'Ilvain, to be 1st lieut. 20th April, 1818.

2d lieut. W. L. Booth, to be 1st lieut. 25th April, 1818, vice Erving, promoted.

3d lient. E. J. Lambert, to be 2d lieut. 1st March, 1818, vice B sque, promoted.

34 lieut. W. G. M'Neill, to be 2d lieut. 1st March, 1818, vice Johnson, resigned."

2d lieut. James Scallen, to be 1st lieut. 31st

January, 1818, vice Donoho, resigned.

2d lieut. James Collins, to be 1st lieut. 1st March, 1818, vice Houston, resigned.

SECOND REGIMENT INFANTRY.

Brevet major Enos Cutler, captain of the 4th infantry, to be major, 10th Feb. 1818, vice Leavenworth, promoted.

THIRD REGIMENT INFANTRY.

Lieut. colonel Joseph L. Smith, of the 5th infantry, to be colonel, 10th Feb. 1818, vice Miller, resigned.

2d lieut. Andrew Lewis, to be 1st lieut. 10th Feb, 1818, vice Sturgus, resigned.

FOURTH REGIMENT INFANTRY.

1st lieut. James M. Glassel, to be captain, 10th Feb. 1818, vice Cutler, promoted.

1st lieut, Francis L. Dade, to be captain, 24 Feb. 1818, vice Muhlenburg, promoted.

2d lieut. Henry R. Dulany, to be 1st lieut. 10th Feb. 1818, vice Glassell, promoted.

2d lieut. Wm. F. Taylor, to be 1st lieut. 24 Feb. 1818, vice Dade, promoted.

FIFTH REGIMENT INFANTRY.

Brevet colonel Henry Leavenworth, major of the 2d infantry, to be lieut. colonel, 10th Feb. 1818, vice Smith, promoted.

Brevet major Peter Muhlenburg, captain of the 4th infantry, to be major, 24th Feb. 1818, vice M'Neal, promoted.

2d lieut. Thomas Hunt, to be 1st lieut. 1st July, 1817, vice Martin, dropped.

SEVENTH INFANTRY.

1st lieut. F. S. Gray, to be captain, 1st June, 1817, vice Tipton.

2d lieut. Angus W. M'Donald, to be 1st lieut. 1st April, 1818.

RIFLE REGIMENT.

1st lieut. Lewellen Hickman, to be captain, 19th Feb. 1818, vice Dufphey, resigned.

1st lieut. Stoughton Gantt, to be captain, 15th April, 1818, vice Calhoun, resigned.

2d lieut. Wm. G. Shade, 1st lieut. 15th Feb. 1818, vice Hickman, promoted.

2d lieut. John Gantt, to be 1st lieut. 5th April, 1818, vice Broughton, resigned.

2d lieut. Gabriel Field, to be 1st lieut. 15th April, 1818, vice Gantt, promoted.

APPOINTMENTS.

Thomas S. Jesup, lieut. colonel of the 3d infantry to be adjutant general, northern division, 27th March, 1818.

Milo Mason, captain of artillery, to be deputy quarter master general, 13th Feb. 1818.

Henry Staunton, to be assistant quarter-master general, 130 Feb. 1818.

Archibald W. Hamilton, to be assistant deputy quarter-master general, 13th Feb. 1818. Mordiecai Hale, to be post surgeon, 13th Feb.

1818.

Andrew M'Intire, to be 2d lieutenant light artil-] lery, 13th Feb. 1818.

Samuel Johnson, to be 2d lieutenant light artillery, 18th April, 1818.

Charles B. Talmadge, to be paymaster, light artillery, 27th March.

John M. Hanson, to be 2d lieut. corps of artillery, 21st April, 1818.

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Robert Lyman, 2d lieut. corps of artillery, to be 1st lieut. 7th infantry, 13th Feb. 1818.

R. J. Easter, to be 1st lieut. 7th infantry, 13th Feb. 1818.

James M'Lean, to be 1st lieut. 7th infantry, 27th March, 1818.

Angus W. M'Donald, 3d lieut. corps of artillery, to be 24 lieut. 7th infantry, 13th Feb. 1818.

H. Berryman, 3d lieut. corps of artillery, to be 2d lieut. 7th infantry, 13th Feb. 1818.

George Murdock, 3d lieut. corps of artillery, to be 2d lieut. 7th infantry, 13th Feb. 1818.

Henry S. Mallory, 3d lieut. corps of artillery, to be 2d lieut. 7th infantry, 13th Feb. 1818.

Thos. C. Wilhight, to be 2d lieut. 7th infantry, 18th April, 1818.

Garston Powel, to be 2d lieut. first infantry 13th Feb. 1818.

George C. Spencer, to be 2d lieut. first infantry, 13th Feb. 1818.

Wm. Seaton, to be 2d lieut. first infantry, 13th Feb. 1818.

Wm. Harney, to be 2d lieut. first infantry, 13th Feb. 1818.

Jehiel Brooks, to be 2d lieut. first infantry, 13th Feb. 1818.

Wm. R. Jouett, to be 2d lieut first infantry, 19th Feb. 1818.

John Stone, to be 2d lieut. first infantry, 18th April, 1818.

Alexander B. Garrard, to be 2d lieut. first infantry, 18th April, 1818.

Wm. M. Gray, to be 2d lieut. second infantry,

19th Feb. 1818.

John L. Elbert, to be 2d lieut. second infantry,| 18th April, 1818.

Peter W. Grayson, to be 21 lieut. third infantry, 13th Feb. 1818.

Abram Musser, to be 2d lieut. third infantry, 18th April, 1818.

Wm. S. Comstock, to be surgeon's mate 21st April, 1818.

Joseph P. Bunting, to be second lieut. 4th infantry, 13th Feb. 1818.

John D. Orr, to be second lieut. 4th infanty, 13th Feb. 1818.

Wm. Lear, to be second lieut. 4th infantry, 13th Feb. 1818.

William Camp, jr. to be second lieut. 4th infantry, 13th Feb. 1818.

William C. N. Armistead, to be 2d lieut. 4th infantry, 13th Feb. 1818.

Quin B. Heronimus, to be 2d lieut. 4th infantry, 19th Feb. 1818.

William H. Barclay, to be 2d lieut. 4th infantry, 18th April, 1818.

Lee Slaughter, to be 2d lieut. 4th infantry, 18th April, 1818.

William A. M. Parker, to be 2d lieut. 4th infantry, 18th April, 1818.

Thomas R. Broom, to be paymaster, 4th infantry,| 13th Feb. 1818.

William G. Camp, to be 2d lieut. 5th infantry,| 13th Feb. 1818.

Edmund P. Tyler, to be 2d lieut. 5th infantry, 13th Feb. 1818.

Henry Wilkins, to be 2d lieut, 5th infantry, 18th April, 1818.

Joseph Wallace, to be surgeon, 5th infantry, 18th April, 1818.

C. F. L. Durand, to be 2d lieut. 6th infantry, 13th Feb. 1818.

William A. Mix, to be 2d lieut. 6th infantry, 13th Feb 1818

Samuel B. Jones, to be 2d lieut. 7th infantry, 18th April, 1818.

Benjamin Vincent, to be 2d lieut. 7th infantry, 18th April, 1818.

W. N. Bronaugh, to be 2d lieut. 7th infantry, 18th April, 1818.

Richard D. Davis, to be 21 lieut. 7th infantry, 18th April, 1818.

Richard Wash, to be 2d lieut. th infantry, 18th April, 1818.

Stephen H. Webb, to be 1st lieut. 8th infantry, 13th Feb. 1818.

Ethan A. Hitchcock, 3d lieut. corps of artillery, to be 2d lieut. 8th infantry, 13th Feb. 1818.

J. M. Washington, 3d lieut. corps of artillery, to be 2d lieut. 8th infantry, 13th Feb. 1818.

Jeremiah Yancey, 3d lieut. corps of artillery, to be 2d lieut. 8th infantry, 13th Feb. 1818.

W. Whartley, 3d lieut. corps of artillery, be 2d lieut. 8th infantry, 13th Feb. 1818.

George W. Allen, to be 2d lieut. 8th infantry, 13th Feb. 1818.

John Whitinan, to be 2d lieut. 8th infantry, 13th Feb. 1818.

John Page, to be 2d lieut. 8th infantry, 13th Feb.

1818.

Cornelius Gates, to be 2d lieut. 8th infantry, 13th Feb. 1818.

John Wheelock, to be 2d lieut. 8th infantry, 13th

Feb. 1818.

John Philbrick, to be 2d lieut. 8th infantry, 21st April, 1818.

Thaddeus Hubbard, to be surgeon's mate, 8th infantry, 13th Feb. 1818.

Francis Smith, to be 2d lieut. rifle regiment, 13th Feb. 1818.

Thomas W. Kavenaugh, to be 2d lieut. rifle regiment, 13th Feb. 1818.

Loring Palmer, to be 24 licut. rifle regiment, 18th April, 1818.

Thomas Martin, to be 2d lieut. rifle regiment, 18th April, 1813.

Daniel H. Campbell, to be 2d lieut. rifle regi. ment, April 18th, 1818.

Martin Scott, to be 2d lieut. rifle regiment, April 18th, 1818.

George C. Catlett, to be 2d lieut. rifle regiment, 18th April, 1818.

John Hall, to be paymaster, rifle regiment, 18th April, 1818.

John Gale, to be surgeon, rike regiment, 18th April, 1818.

Those officers whose stations are changed by promotion, will repair to their new commands, and those appointed will report to the head quarters of their regiment and corps, as well as to this office

The following arrangements have been ado

Midshipmen to be lieutenants.

for carrying into effect the act for regulating the
staff of the army, passed April 14, 1818.
Samuel W. Downing,
Brigadier general William Cumming, to be quar-Richard S. Hunter,
ter master general, 18th April, 1818, in lieu of the William Pottinger,
quarter masters general of division, who are super-
seded by the law.

George Bender, captain 5th infantry to be assist.
dep. quar. mas. gen 18th April, 1818.
William A. Barron, to be assist. dep. quar. mas.
gen. 18th April, 1818.

Archibald Darrah, to be assist. dep. quar. mas. gen. 18th April, 1818,

Richard J. Easter, to be assist. dep. quar. mas. gen. 18th April, 1818.

Joel Spencer, to he assist. dep. quar. mas. gen. 18th April, 1818.

Hos. surgeon, J. Lovell, to be surgeon general, 18th April, 1818.

Hosp. surgeons, T. Watkins and J. C. Bronaugh, to be assistants surgeons general 18th April, 1818, in lieu of the hospital surgeons, who are superseded by the law.

J. Mann, late hospital surgeon, to be post surgeon, 18th April, 1818.

D. C. Kerr, late hos. sur. to be post sur. 18th April, 1818.

J. Shaw, late hos. sur. to be post sur. 18th April,

1818.

B. Waterhouse, late hos. sur. to be post sur. 18th April, 1818.

E. H. Bell, late hos. sur. to be sur. 8th infantry. Sylvester Day, late sur. 5th infantry, to be post sur. 18th April, 1818.

W. H. Buckner, late hos. sur. mate, to be post sur. 18th April, 1818..

E. Purcell, late hos. sur. mate, to be post sur. 18th April, 1818.

William Stewart, late hos. sur. mate, to be post sur. 18th April, 1818.

William Marshall, late hos. sur. mate, to be post sur. 18th April, 1818.

Joseph Eaton, late hos. sur. mate, to be post sur. 18th April, 1818.

B. Delevan, late hos. sur. mate, to be post sur. 18th April, 1818.

Robert Archer, late hos. sur. mate, to be post sur. 18th April, 1818.

Thomas Russell, late hos. sur. mate, to be post sur. 18th April, 1818.

George C. Clitherall, late hos. sur. mate, to be post sur. 18th April, 1818.

W. J. Clark, late hos. sur. mate, to be post sur. 18th April, 1818.

Samuel C. Muir, late hos. sur. mate, to be post sur. 18th April, 1818.

Colonel G. Gibson, late division quarter master general, to be commissary general of subsistence, 18th April, 1818.

R. H. Winder, and S. A. Storrow, judge advo. cates, retained.

The officers who are superseded, under the act, and are not included in this arrangement, will be considered in service until the 1st of June next. By order D. PARKER, Adt. & Inspr. Gen.

Navy of the United States. List of officers of the U. S. navy, promoted during the first session of the 15th congress. Master commandant Jesse D. Elliot, to be a post captain.

Lieutenant Jesse Wilkinson, to be a master commandant.

Henry Henry,
Henry W. Ogden,
John H. Lee,
Walter Abbot,
Jas. M. M'Intosh,
Josiah Tatnall,
William Temple,
George M'Cauley,
Hugh Nelson Page,
James A. Perry,
Archibald M'Neal,
John A. Cook,
William Inman,
Joel Abbot,
Lewis E. Simonds,
John M. Dale,

Peleg K. Dunham,
Harrison H. Cocke,
William H. Mott,
Henry Gray,
Wm. J. M'Cluney,
Albert G. Wall,
Eph. D. Whitlock,
James F. Curtis,
James Goodrum,
J. B. Montgomery,
Horace B. Sawyer,
C. K. Stribling,
James E. Legare,
Joshua R. Sands,
Allen R. W. Griffin,
Richard M. Potter,
John L. Cummings,
Samuel A. Eakin,
Frederick S. Gibbon.

Legislature of Connecticut.

GOVERNOR'S SPEECH.

On the 16th inst. at 10 o'clock, his excellency Oliver Wolcott delivered to both houses of the legislature the following speech:

Gentlemen of the council, Mr. Speaker, and

Gentlemen of the house of representatives: The renewed manifestation of public approbation, by which I have been designated to preside in the councils of this state, has effected me with profound sensibility, and strengthened those senti. ments of affection and gratitude, which I have ever cherished for my fellow citizens. Relying on their magnanimity, and on your indulgent favors to excuse involuntary errors and deficiencies, I have accepted the trust, and now invite your co-operation in exertion to promote the public good, imploring the Supreme Being to guide and direct our consultations.

As a portion of the people have expressed a desire that the form of civil government in this state should be revised, this highly interesting subject will probably engage your deliberations. I presume that it will not be proposed by any one, to impair our institutions, or to abridge any one of the rights and privileges of the people. The state of Connecticut, as at present constituted, is, in my opinion, the most venerable and precious monument of republican government existing among men. With the exception of less than two years from its first settlement, embracing a period nearly coeval with the revival of civil and religious liberty in Europe, all the powers of government have been directly derived from the people-The governors and councellors have been annually, and the representatives of towns, semi-annually elect ed by the freemen, who have always constituted the great body of the people. Nor has the manifestations of the power of freemen, been confined to the elections. They have ever been accustom. ed to public consultations and deliberations of intricacy and importance. Their meetings have been generally conducted with the same order and decorum, as those of this assembly. No instance is known in which a single life has been lost, in consequence of any mob, tumult, or popular commotion. The support of religion, elementary schools, paupers, public roads and bridges, comprising about eight-tenths of the public expenses, has been constantly derived from taxes, imposed by the votes of the people, and the most interesting regulations of our police have ever been, and still

are, enforced by officers deriving their powers from execution of their trusts, and a due observance annual popular appointments.

of the acts of incorporation. Prior to the establishment of American indepen. The act inithorising the appointment of a repor. dence, the charter of Charles 2d of England, was ter for the court of errors, with a salary, will exviewed as the paladium of the liberties of Connec. pire, by its own limitation, at the close of the preticut. - It surely merited all the attachment it re- sent session. As the uniformity, wisdom, and even ceived; for whatever had been the claims of the purity of judicial decisions are essentially promoto British crown or nation, :0 jurisdiction, or terri.ed, by giving publicity to the principles on which tory, they were all, with mere nominal exceptions, they are founded, I recommend a furiher continua. surrendered to our ancestors, by that instrument; tion of that act. especially there was expressly conceded to them The measures of the last sessior for encouragand their posterity, thie inestimable privilege of be, ing the extension of agricultural knowledge, aping governed by municipal regulations, framed and pear to have produced very beneficial effects, by executed by rulers of their own appointment. The exciting a spirit of emulation and enquiry. I sub. revolutionary war, of course, occasioned

no change mit to your consideration, whether a moderate an. or dissolution of our social sysłe:n. Considered nual appropriation, to be distributed according to merely as an instrument defining the powers and some rule to be prescribed by law, in aid of such duties of magistrates and rulers, the c!arters may funds as may be raised by private donations, would justly be considered as unprovisional and imper. not probably render this spirit still more active fect; yet it ouglat to be recollected, that what is and universal. now its greatest defect, was formerly a pre-eminent The states of North Carolina and Tennessee hay. advantage, it being then highly important to the ing proposed amendments to the constitution of people, to acquire the greatest latitude of authori. the United States, their proceedings will be sub. ty, with an exemption from British interference mitted to your consideration. and control.

It is, in my opinion, deserving the most serious If I correctly comprehend the wishes which have consideration, whether the law of parinership, esbeen expressed by a portion of our fellow citizens, pecially in relation to establishments of a permathey are now desirous, as the sources of apprenent nature, ought not to be revised and accommohension from external causes are at present happi. dated to the circumstances of our age and country. ly closed, that the legislative, executive and judi. As this law exists at present, no one can advance cial authorities of their own government, may be money to be employed in business, under a contract more precisely defined and limited, and the riglets to receive a proportion of the profits, in lieu of inof the people declared and acknowledged. It is terest, without thereby subjeciing luis whole proyour province to dispose of this important subject, perty to responsibility. The effect is, that men in in such manner as will best promote general satis advanced age, or retired from business, are refaction and tranquility.

strained from employing their capital in acts of beAs congress have repeatedly declined to exer- nevolence or friendship, or in undertakings which cise the power with which they are invested upon would be highly beneficial to the community: the subject of bankruptcies, it deserves your con. is well known that private loans are now rarely to sideration whether a revision of our insolvent laws be obtained, as with a view to higher profits 11:31 has not become expedient.--Although fraudulent the legal rate of interest, the accumulations which bankrupts merit severe punishment, yet those who are constantly forming; are employed in speculations are impoverished by misfortunes, and who render in the public funds, or in banking institutions, where all the justice in their power, are entitled to sym. the responsibility and bazard can be limited; of pathy and protection. To accomplish any of the course subjecting our active citizens, employed in purposes of justice, precise statutory regulations arts, commerce, manufactures, or agriculturui imare wanting. Merely to discharge the persons of provements, to delays and interruptions, for want of insolvent debtors from imprisonment, leaving their aid, or to inevitable dependence, on pecuniary coracquisitions liable to attachment, must either ren porations. On these grounds, I respectfully invite der them unprofitable members of community, or you to consider, wheiher it is not contrary to pub. compel them to migrate from the state, however lic policy, if not an abridgement of private right, meritorious or unfortunate, or present temptations to restrain individuals from forming partnerships for dishonest concealments of property, which will with a limited responsibility. As the community rarely be resisted.

are interested in being guarded against frauds The practice of granting acts of incorporation arising from secret combinations, it would be pro. bas produced great changes in the relations of per to require contracts of this nature, to be reproperty, and the ancient modes of transacting bu. corded in a public office, subject to general inspce. siness in our country, although partial inconvenien. tion: the active managers, and generally all those who ces have been experienced, yet it is certain that personally formed contracts might be held respion. the effect of incorporations in this state, has hither. sible as at present, and it would not be inequitable, to been beneficial. Being created by the law, and hav. if all sums withdrawn from a joint capital stock, ing acquired the possession of a great amount of should, for a limited period, be liable to be recalproperty, they are entitled to ample protection. led, and rendered applicable to the payment of As important consequences, in respect to the suc partnership debts. Under these, and perhaps soine cession, depend upon the question whether shares additional regulations, I have no doubt that the in banking, insurance, lumpike and otber compa. public security, against acts of insolvency, would nies shall be considered as real or personal pro. be greatly increased, and a beneficial activity im. perty, it appears to be expedient that the point be parted :o the resources of the staie. settled by laws. Upon this subject I also take the The discoveries and improvements in the useful liberty to add that though no particular instance of arts and sciences, during the last tifty years, liure abuse has come to my knowledge, prudence re. essentially changed the condition and relations of quires that summary and efficient regulations be civilized men throughout the globe. New and for. speedily established for rendering the manager and cible obligations are, therefore, imposed on all agents of corporations responsible for the faithful I those who are entrusted with the superintendance

a

zens,

of public affairs, to facilitate to their fellow citi. The chancellor of the exchequer then stated the the advantages of the present enterprising nature of his new funding system and declared that age. During a considerable period, the relative he hoped before the termination of the present wealth, importance and influence of civil communi-session, to effect the reduction of the 4 and 5 per ties may be expected rapidly to improve or to de- cts. By the creation of a 3 1-2 per cent. stock, cline. In that great intellectual competition which has commenced among nations, the United States are well prepared to take the lead; but it ought to be impressed on the mind of every freeman, that it is not in their territorial wealth or political power, but in the free constitution of our country, that their peculiar advantage consists.

the committee was aware that a sum of money would be raised for the service of the year without any increase of the nominal capital of the public debt, while the existence of such a stock would naturally serve to facilitate the reduction of the 4 and 5 per cents.

It was proposed that the new stock should consist Wonderful are the means by which a gracious of 27,000,0001. by which 30,000,000l. would be raisProvidence has conducted us to our present condi-ed for the public service, and it was also proposed to tion. We can now perceive, why it was necessary fund exchequer-bills to the amount of 27 millions. that our high spirited ancestors should be expelled The addition to the funded debt, through the propofrom their homes by persecution, and compelled sitionswhich he had submitted would be 34,903,160 10 suffer extreme toil, poverty, and the restraints The charge of interest upon the new plan he proincident to savage warfare. By no other course of posed, should be defrayed out of the sinking fund, training, could they have acquired that hardihood, but this proposition he meant to bring forward on intelligence, docility and perseverance, which are another day, taking care to provide that no reducthe basis of the American character, by which our tion of the sinking fund should take place this year. independence was acquired, and by which alone pub. He concluded with moving his first resolution, lic liberty can be preserved. As Connecticut is which stated in detail the terms on which the subnow one of the oldest, and in relation to its local li-scribers to the new 3 per cent. stock were to be mits, one of the most populous states, the effects of admitted. our social organization have here been most fully de- London, April 15.-We communicated yesterday veloped. Happily for us, our reforms can only the new plan of finance, with such observations as confirm principles and habits, which experience appeared to us to be calculated to render the ef. has recommended. Though in relation to the ge- fect of it clearer to those who might be unaccusneral government, and for many purposes of gene-tomed to subjects of this kind. These observaral policy, we are but one state, yet for the most important of all purposes, that of preserving the character, habits and intelligence of the people, we are a congeries of distinct republics. It is es "The terms proposed are, that the subscribers sential, therefore, that our present organization | shall, for every 100l. 3 per cent. stock, receive 100%. should remain; that the people should continue to in a new stock at 33 per cent. upon paying 117 by educate, govern and support each other; and con-monthly instalments of 11. each, with the allowance stantly perceive that while indolence and faction of discount for prompt payments. He therefore are "destroying angels," mutual consultations, de- obtains a permanent annuity of 10s. a year, for the pendance and co-operation, are sources of stability, payment of 117. security and happiness.

OLIVER WOLCOTT.

General assembly, May session, 1818.

British Finances.

tions we have been requested from so many quarters to republish to-day, that we cannot refrain from complying with the request.

To judge of the value of this offer, we must consider that in the 3 per cent. consols at the present price of 80, it would require 13. 6s. 8d. to purchase an equal annuity with what the government offers for 11. paid by instalments, or about 101. 12s. in ready money, leaving a profit to the subscriLiverpool, April 24.-In the house of commons,bers of 21. 14s. upon the subscription of every 100%. on Monday last, the house having resolved itself stock. into a committee of ways and means, the chancel- Another ground of comparison would be to take lor of the exchequer rose to submit to the commit- the last price of long annuity, which has now nearly tee the terms of a bargain which had been arrang. 42 years to run. ed, and which, in reality, had been carried into effect. About 7 or 800,000l. only remained to be subscribed. But before he proceeded to the terms of the loan, he should enter into some general statement of the financial operations of the year. The principal branches of supply had been voted. The statement of the supplies, and the ways and means might be given as follows: Supplies for the year 1818, Extraordinary payments,

Spanish treaty

Deficiency last year

Repayment unfunded debt

118,392,400

1400.000, 259,686 15,932,062

Interest on exchequer bills, &c.

The last price, when the long annuity shut, was 20 years purchase. In the 3 per cent. stock, the subscriber obtains a permanent annuity at about 20 years' purchase, making the difference between a 42 years annuity and a perpetuity, only a half a year's purchase.

If it should be apprehended that the 3 per cent. stock may be hereafter reduced to 3 per cent. it should be observed that this change could not take place until the 3 per cents. are at par, or very near it, a contingency which it requires a very sanguine view of public affairs to take into contemplation. But even this remote danger is guarded against by -16,591,748 a specific condition in the notice, which provides 2,560,000 against any reduction in the interest for ten years to come. If it is supposed that the 34 per cent. 137,544,148 may be less marketable than the 3 per. cents., and depreciated in comparative value, it may be ob served, that though it is impossible to reason with certainty upon what is in its nature contingent, we may form some judgment by attending to the Irish 137,544,148 31 per cent. stock, which was about 93, and appear.

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7,271,448 3,000,000 27,272,700

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