tional questions, would be deprived, of all opportunities of making themselves acquainted with the laws and local customs of the several states; and, that previous knowledge of the cases brought before that court, which is acquired by the judge who presides at nisi prius, and is now brought into the supreme court, by the circuit judges and that the executive, released from the necessity of looking into the circuit, to supply any vacancy on that bench, would confine his choice to a more limited sphere, and impair the influence of the court, by neglecting local considerations, as well as its usefulness, by making a seat there, the reward of political services, instead of legal learning and talent. : These objections to the modification proposed in 1819, prevailed; and in order to satisfy the just expectations and demands of the western states, and to remedy the existing evils, a bill was brought forward in the house early in the session of this year, by the chairman of the judiciary committee, (Mr. Webster,) to create three additional judges of the supreme court, to hold circuits in the western states. By that bill, Ohio, Indiana, and Illinois, formed the 7th circuit; Kentucky and Missouri, the 8th; Tennessee and Alabama, the 9th; Louisiana and Mississippi, the 10th. Great opposition was made to the passage of this bill. Some opposed it on the ground that it would render the bench of the supreme court too numerous, and thus diminish the responsibility and impair the usefulness of the several judges. Others objected to the introduction of so many judges, at one time, from the west. It was well understood that dissatisfaction was felt in that part of the union, at some of the late decisions of the supreme court; and fears were expressed that, by the appointment of three new judges, these decisions would be reversed, and the law of the land unsettled. Objections of a party character were also started; growing out of the patronage which the passage of this bill would place in the hands of the executive. The necessity, however, of providing some remedy, was so apparent, and no other being proposed of so unobjectionable a character, the bill reported by Mr. Webster was sanctioned in the house, by a vote of 132 to 59. In the senate, it was amended, by joining Ohio and Kentucky in one circuit, and placing Missouri in the circuit with Indiana and Illinois, and providing that each of the new judges should reside in his respective circuit. This alteration passed, by a vote of 32 to 4. Both the senators from Ohio, and one of the Kentucky senators, opposed this amendment. Another amendment was offered, by Mr. Rowan, prohibiting the supreme court from declaring the constitution, or any law of a state, void or invalid, unless seven of the judges concur in that decision. This amendment, which struck at the fundamental principle, upon which all judicial and legislative questions are decided in this country; an amendment, which would have given to the minority of the court, the power to control the majority; and still worse, would have authorised that minority to sustain a single state, in an attempt to violate the constitution of the United States, was rejected by a vote of 21 to 20. The strong support which this proposition received in the senate, was asserted to be owing to the desire felt by a portion of the senate to defeat the bill, without directly opposing it. It was well ascertained, that no such principle could receive the sanction of the house; and it was advocated by some, with a view to clog the bill with this unacceptable provision. This object, however, was attained in another manner. The other amendment being made, the bill then received the sanction of the senate, and was sent to the house for concurrence. It there met with decided opposition. The whole delegation from Ohio, and all but three from Kentucky, opposed this alteration of the circuits, on the ground, that in Ohio and Kentucky, there existed at present the evil complained of, in a greater degree, than in all the other western states: that those two states contained a greater population than any other circuit, and indeed, greater than in the three new circuits together: and that the litigation then depending, before the federal courts in Ohio and Kentucky, composed a greater docket, than the pending suits in all the other western states. These reasons prevailed, and the house divided; on the question of agreeing to the amendment of the senate, 110 against, and 60 in favor of the amendment. The senate, however, contrary to established usage, adhered to its amendment in the first instance, instead of insisting on it; and, subsequently, when the house, in the hope of adjusting the difference, asked for a conference between the two houses, and appointed conferees; the senate declined the conference, and the bill was lost. An act altering the time of holding the supreme court, to the second Monday of January, so as to enable that court to hold a longer term, in order to dispose of the numerous appeals which had accumulated on its docket, met with a more favorable fate, and became a law. In pursuance of an act of congress, the secretary of the treasury, day of December, transmitted to congress his annual report on the state of the public finances. (Mr. Rush,) on the twenty-second balance in the treasury amounted $1,946,597. The actual receipts into the treasury during the three first quarters of the year, were $21,681,444, arising from the following sources, viz: By this report, it appeared, that on the first of January, 1825, the Customs, $15,196,397 Public lands, 976,902 Dividends from the United States Bank, 367,500 Arrears of internal duties, and direct taxes, and inci Expenditures during the three first quarters of the year, estimated at Making the total expenditures for the year, $23,443,979, and leaving a balance in treasury, 1st January, 1826, $5,284,061. Of this balance, it appeared by the report, that $3,500,000 were balances of appropriations previously made by congress, and that of the residue, viz, $1,784,061; one million consisted of unavailable funds, having been deposited in banks, whose solvency is there considered doubtful. The receipts for the year 1826 were estimated at $25,500,000, viz: Customs, Public lands, $24,000,000 1,000,000 Viz:--Civil, diplomatic and miscellaneous, $2,032,454 The exports of the year, ending Sept. 30th, 1825, ex ceeded The imports, $4,915,270 $92,000,000 91,000,000 Of those exports, between five and six millions were domestic manufactures; $66,000,000 were of domestic production, and the remainder of foreign origin.-81,000,000 dollars of the exports, and $86,000,000 of the imports were made in American vessels. The gross amount of duties accruing during the three first quarters of the year, exceeded $25,500,000, and the debentures issued during the same time, 84,489,710. The total amount of funded debt on the 1st of October, 1825, was $80,985,537; which was composed of these items, viz: Revolutionary debt, 3 per cents., redeemable at pleasure, $13,296,231 Subscription to the U. S. Bank, 5 per cent., Loans of 1813, redeemable in 7,000,000 One half of exchanged stock of 1825, redeemable 1829, 792,569 As by this statement, it appeared, that in the years 1826 and 1827, the ordinary resources in the treasury would be unable to discharge those portions of the public debt becoming payable in those years, the secretary recommended, that proposals should be authorised for a loan, to the amount of fifteen millions, (which he considered as the deficiency,) at 5 per cent., payable in 1829 and 1830. In this manner, the treasury would be enabled to discharge those portions of the public debt, redeemable in 1826 and 1827, and to distribute the repayments upon years, when but small sums were made redeemable. The committee of ways and means, in the house of representatives, to whom was referred this document, took a different view of the subject. They considered, that the time at which the loans were made redeemable, was fixed for the benefit of the government; and that it was not bound to redeem them at that time, but had the option of so doing, if it thought proper. The modes of paying off the public debt were three, viz :— 1st. By paying the whole of any loan at one time. This was the mode ordinarily adopted; but, necessarily, occasioned an expenditure, on account of interest, by the accumulation of large sums in the treasury. 2d. By a new loan, or exchange of stock, reimbursable at a period sufficiently remote to induce the loaner to reduce the rate of interest. This was the mode recommended by the secretary of the treasury. 3d. By applying the means of the treasury quarterly to the discharge of so much of the debt, as can be discharged by that surplus. This mode the committee thought preferable to either of the others. The committee, by applying the surplus in the treasury, at the end of the years 1826 and 1827, to the increase of the sinking fund, according to the act of 1817, made the deficiency of the treasury, to discharge the loans redeemable in those years, to be only $8,351,803; being $6,648,197 less than the estimate of the secretary. To redeem this sum in the years when it was redeemable, the committee did not think it expedient to make new loans, especially at that moment of severe pecuniary distress. It was doubted, whether money at a less rate of interest could be procured, and the saving to the government, by the exchange, would be less than that by partial payments made quarterly. The saving, by this latter mode, over that by an exchange of stocks, at 5 per |