PAPERS OF !!IR.ABE.AU BUON.AP.ARTE LAMAR 169 try. The subject of public revenue is always one of difficulty, and required great wisdom in the arrangement of .its details. The prin- ciples by which the Government should be guided in creating it, are an equalization of the burthen, a due adjustment of the amount to the necessities of the country, and a prompt collection. Although our national debt is comparatively small, yet the requisitions for the en- suing year must necessarily become somewhat onerous to the people.- We shall have an expensive Navy to support, or resign the Gulf; a line of military posts to maintain, or abandon the frontier; and a gen- eral preparation to make for a settlement of our National quarrel; or discard at once and forever, all pretensions to ultimate coercion. The funds for these objects are not to be gathered unfelt by the Nations; but being necessary, should be met with cheerfulness. In regard the prospects of obtaining a loan of five 1\Iillions of dollars, authorized by a°' Act 80 of the last session, as cheering and satis- factory. The commissioners 81 appointed to negotiate that loan, after obtaining an advance of $280.000 upon the eventual success, proceeded to Europe, with a view to its final consumation: and I am assured by communications 82 from one of them, that nothing but the peculiarly embarassed condition of the money market in England, growing out of some recent and heavy exportations of bullion to the Continent, has prevented a sale of our bonds before this time; and upon terms which, it is believed, will secure to us in cash the nominal amount at least, for which they were issued. These embarassments however, were con- sidered temporary in their nature; and are said to be already rapidly yielding to a more healthful and settled state in the monetary affairs of the country and we may now look with confidence, to an early realization of the hopes which have been so long entertained, in ref- erence to this subject; and upon the fulfilment of which; so much of our national prosperity depends. The $280.000 obtained by the com- missioners, have been almost exclusively devoted to the purchasing of public arms and ammunition, the enlistment of a regular force, and to the equipment of the navy for efficient operations. , The resignation of Charles Watrous, Esqr. the Attorney General, and the necessity of supplying his place by one whose previous habits and pursuits had qualified him for the efficient discharge of the duties of that office, induced me to transfer the then Secretary of State 83 to the Law Department of the Government. In making this change, a vacancy was left in the Pepartment of State, which I have not been able, permanently, to fill with satisfaction to myself, or with a pros- pect of benefit to the country, as experience has shown, that most of those of our citizens who are competent to the performance of such high and responsible duties, are unwilling to submit to the personal sacri- fices which they are required to make, in the acceptance of public office. But relying on the well-known patriotism of the Vice President, 84 and '°Act of Congress, Jan. 22, 1839. Printed in Gammel, H. P. N., Laws of Texas, II, 62. • 1 Jas. Hamilton' and A. T. Burnley. 82 Sce nos. 1424 and 1475. "'Jas. ,vebb. "David G. Burnet.
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