Advantages of a Gold Currency

THE CONSTITUTIONAL CURRENCY-, ADVANTAGESOF A GOLD CIBBEXCT. This noble currency has been so long suppressed by the power and policy of the first and second United States Bank, that the present generation are .almost entirely ignorant of it. We, therefore, give the following brief enumeration of its advantages from Gol. Benton?s speech on the currency.” 1. It has an intrinsic value ; which gives it currency all over the world, to the full amount of that value, without regard to laws or circumstances. 2. It has a uniformity of value; which makes it the safest standard of the value of property which the wisdom of manever discovered. . 3. It is a portable currency ; which make? it easy for the traveller to carry it about with him. 4. It is indestructible; which makes it the safest money which people can keep in their houses. 5. It possesses inherent purity; which makesit the hardest money to be counterfeited, the easiest to be detected if counterfeited, and therefore the safest money for the people to use. 6. It is superior to all other currency; therefore the holder of it can most easily change it for any other, and is the master of all other money to the extent of the gold he hold?. 7, It is the true regulator and equalizer of exchanges; for being the master of all other money, and itself most easily transported, it reduces the rates of exchange to the lowest and most uniform point. ■ 8. It is the master of paper money; for no man will carry 5, 10, and 20 dollar notes about him, when he can get doubloons, eagles, half and quarter eagles, half joes, guineas, sovereigns, and louis d’orsto carry jn his pocket in their place. 9. It is the true regulator of Bank issues; for it circumscribes the circulation of bank notes, and can easily be brought to bear upon banks in masses. A boy can bring 5,000 dollars in gold out of a bank, while it would require two horses and two men to carry out that quantity of silver. 10. It is a CONSTITUTIONAL currency; anq therefore, the people have a right to have it, while the .constitution remains, whether they can give reasons for it, or not. REFORT 0F THE SECRETARY OF THB TREASURY. Treasury Department, ) June 16, 1834. £ Sir: In compliance with the resolution of the Senate of the 7th of May last, directing the Secretary 'of the Treasury “to report as soon as praoticable th the Senate the amount of duties received and accrued on foreign imports, during the first quarter of the year 1834, with a table showing the comparative amount of that quarter, and the corresponding quar6 ter of the year 1833, and distinguishing between the amounts accrued or received at each port.’? Also ' “whether any thing has happened since his annual report was made'at the commencement of the present session of Congress, to vary, in his opinion, the estimate contained in the said report, of the proceeds of the duties on foreign imports for the year 1834:’? I herewith transmit the statement required byz the first resolution above mentioned, by which it appear^ that the duties which accrued from customs in the first quarter of 1833, amounted to the sym of $5,798,- 114 87, and in the corresponding quarter of 1834, to the sum of $5,344,540 40, and, that the actual receipts jnto the Treasury from the same source in the former quarter, amounted to $6,966,437 09, and in the latter to $4,435,386 13. A few of the minor ports have not been heard from, but they cannot materially vary the result. In answer to the second resolution, 1 have the honor to state, that estimating the duties on foreign imports in the annual report made at the commencement of the present session, it was assumed as the basis of the estimate, that the imports pf the present year would be nearly .equal to those of 1832. This estimate was higher than the average imports of the five or six preceding years; but, as stated in that report, it was considered as a safe one ; because, although the imports of 1831 and 1832 had been unusually large, those of 1833 had gone still higher, and the general state of commerce and the situation ofthe country, justified the belief that there would be no seriou? diminution in the present year. From the cdmpkfative statement of the amount of duties which accrued in the first quarter ofthe present year, and tjje corresponding quarter of 1833, it appears that the amount of foreign imports in the first quarter of 1834, must have exceeded that of the corresponding quarter in the preceding.year. Several articles which form important items in our ordinary imports, and paid duty in the first quarter of 1833, Were free from duty in the first quarter of 1834, and the rate of duty was reduced on others; and the difference between the amount of duty which accrued-in