presses the whole sum to be borrowed, the amount of interest to be paid, and the time when the principal is to be paid. Books of subscription are opened in the principal cities, and any person, who chooses to lend, subscribes. Each lender receives a certificate that he is a creditor of the United States for the sum by him loaned, which certificate conforms to the act authorizing the loan. Of these certificates a registry is made at some one of the branch banks of the United States, as the practice now is; formerly there were loan-offices. Any person, who is the owner of a certificate, can sell it; and in such case, he assigns his certificate to the purchaser. That certificate is produced at the bank (the place of its registry), and a new certificate is issued to the purchaser. Such transfers are made whenever, and as often as, the owner chooses to transfer, and without any expense to the owner. The interest is paid quarterly at the bank, to the person there registered as owner. This public debt is known by the general name of stocks. It always has a market value, sometimes above, and sometimes below, the nominal value. It is a subject of speculation, as anything else may be, which is bought to be sold on the expectation of profit. Most of the nations of Europe have such stocks. Speculations are carried on in them to a surprising amount. Fortunes are won and lost in a day. Political circumstances affect their value so sensitively, that the rise and fall of stocks in the market, is the measure of hope and fear, as to political changes, just as the thermometer measures the state of the atmosphere. The present public debt of the United States is less than five cents to each inhabitant of the United States; while the public debt of Great Britain, at present, is something more than twenty-five cents to each inhabitant of the whole world. 203. Post-Office. This public convenience is exclusively under the direction of the government of the United States. It is established and regulated by law. The word post is said to be thus derived: Horses were placed (positi, in Latin) at certain stations on the road, for the use of the messengers (courriers, meaning runners in French) employed to carry letters. These messengers acquired the name of posts, from their connexion with the horses positi, or placed, for their use. The place of depositing and delivering letters acquired the name of post-office. The word office, now in common use, is from officina, which signifies a place in which work is done. That which a post carries (whether in a carriage or otherwise) is now called the mail; which is derived from

the French word mallier, which means a pack-horse; or from malle, which means a trunk or box. The postmaster-general, who is resident at the seat of government, contracts for the carrying of the mails throughout the United States, and appoints the postmasters everywhere as his deputies. Every letter, paper, pamphlet, &c., is charged at a rate established by law, according to weight and distance. The postage is paid either at the place of deposit or delivery. The postmaster-general has a fixed salary. The compensation of deputies is a certain sum on the amount received by them for postage. Civil officers at the seat of government, and members of Congress, while in session, and for sixty days before and after, receive letters free of postage, and may free the letters they send from postage, by "franking" them, which is done by writing their own names and office on the outside. The revenue derived from the postage of letters, has generally been equal to maintaining the post-office establishment. In the year 1828, the number of post-offices was 7530; amount of postage received, $1,659,915; amount paid to postmasters, $548,049; mail carried over 1,086,313 miles. Since 1828, the number of post-offices has increased, it is said, to 8000; and the number of miles over which the mail is carried is annually increasing.*

204. Regulation of Commerce. This power is vested in Congress. It embraces a wide field. Great difference of opinion has arisen, in and out of Congress, as to the extent and objects of this power. There were, undoubtedly, two great objects in view; the one, that the intercourse of the citizens with foreign nations, from all ports of the United States, should proceed under rules common to all; the other, to raise a revenue from commerce, by rules applicable to all. To go further in this notice, would be to enter into the discussion, which involves great principles, and the application of them, on which subject there is great difference of opinion in the United States.

205. Weights and Measures. The power of regulating these belongs to Congress. This power is necessarily vested in that body, because the revenue from commerce is connect

* The progress of this country is best shown by taking insulated facts, at distant points of time. It is within the recollection of persons now living, that the mail was sent, between Boston and New York, only once a fortnight. The same carrier came all the way on horseback, and brought the letters in saddlebags. At this time (1830), less than forty-eight hours are sufficient, and, during two thirds of the year, less than twenty-four hours are sufficient, for communication between the two cities, as well for travellers as for letters.

ed with weighing and measuring most of the imported articles. Weights and measures affect all citizens of the United States in their dealings; and there ought to be a common standard throughout the country. Some very able reports have been made on this subject, but Congress has not exercised its power in this respect.

CHAPTER XVII.

Revenue and Expenditure of the United States.

206. It is obvious that, to do its duty, Congress must have the command of money. Wherefore the power is given to Congress to raise money by taxes, imposts, duties and excises. Since the adoption of the national government, Congress have caused the treasury to be supplied, two or three times, by direct tax on landed property, throughout the United States; and by laying a tax on spirits distilled in the United States, and on pleasure carriages.

207. The income derived from the post-office, the sale of public lands, and from the duty laid on importations of foreign merchandise, has been found fully sufficient to pay all the charges incurred on account of the nation, in time of peace, and to diminish rapidly the public debt, incurred in time of war.

208. The duty on importations is thus laid and collected :— All ships and vessels that belong to citizens of the United States, are named, measured as to tonnage, and registered or enrolled in the custom-houses established in the seaports. These vessels always carry with them papers, signed by the proper officers of the United States, showing what they are, to what port they belong, and whose property they are. When they depart from a port, they must have a certificate of clearance from the custom-house; when they return to any port of the United States, the master, if he comes from a foreign port, makes an exact statement in writing, and on oath of all the property laden on board his vessel. This loading, or cargo, is liable to pay a certain sum of money fixed by law of Congress. Every article which can be imported, is mentioned in the law; and the sum also with which it is chargeable (unless exempted, as some few articles are) is fixed by the same law. The captain's statement is called a manifest,

from the Latin manifesto, to make plain or clear. It contains the names of persons that send the goods, who are called consignors, and the names of persons to whom sent, who are called consignees. Consignees appear at the custom-house, and claim such of the goods mentioned in the manifest, as belong to them; make a list of them, and swear to the truth of its conformity to the manifest, and to the loading of the vessel, which act is called an entry. The amount of duties thereon being ascertained, the consignees give bond therefor, with sureties, to the United States, payable some months afterwards. These debts are to be paid in preference to all other debts, in case the debtors on these bonds become insolvent; and no one, who has become insolvent, can assign his property to creditors, to the exclusion of the claims of the government on these bonds. The laws of the United States, which regulate the payment of duties, are called tariff laws. Tariff is of uncertain origin; it is said to have meant the book of rates. When these bonds are given at the customhouse, the proper officer gives to the consignee a written permit to receive the goods from the vessel, under the inspection of an officer, whose duty it is to see that the goods agree with the permit. Violations of these provisions subject the vessel and its loading to condemnation, on trial in the courts of the United States. The custom-house, as it is called, where this business is done, has in its service many persons who hold offices, and perform duties required by law.

209. Attempts are sometimes made to avoid the payment of duties by getting goods on shore secretly, which is called smuggling. If the attempt is detected, prosecutions ensue; and forfeitures, and penalties by fine, may be inflicted. When an oath is required, and perjury is committed, prosecution follows for this cause. The laws relating to the collection of duties necessarily contain a great many provisions.

210. All moneys raised under the laws of the United States, are accounted for and paid into the treasury of the United States. No money goes from the treasury but in virtue of a law of Congress. The prominent subjects of expenditure are the following:

211. (1.) The salaries of all executive officers, from the president down to the lowest.

(2.) The salaries of all judicial officers, and the expenses of administering justice.

(3.) The payment of members of Congress, who receive eight dollars a day, and the expenses of going and returning,

computing twenty miles as one day. They decide by law how much they are to be paid.

(4.) The expenses

of the army.

(5.) The expenses of the navy, including ship-building materials, dock-yards, and payment of all officers and men, and naval stores of all sorts.

(6.) The salaries of all ministers and diplomatic officers sent to foreign countries.

(7.) Expenses incident to the intercourse, treaties and contracts with the Indians.

(8.) The expenses of printing for the government.

(9.) The expenses drawn forth by national improvements. (10.) The public buildings at Washington and other places. (11.) The post-office establishment, which has heretofore been able to pay more than it has demanded.

(12.) Light-houses, revenue-boats, and all charges incident to the collection of duties in the custom-house.

There are many other expenditures, which appear in the appropriation bills, as passed at each session of Congress.

212. The House of Representatives is empowered to impeach officers of the United States, who, in such case, are tried by the Senate, in the same mode as in the state of Massachusetts.

213. Congress has the power to continue its session as long as it thinks the public service requires. Every new Congress must assemble on the first Monday of December, unless some other day be appointed by law; and it may sit from that day till twelve o'clock at night on the third of March, which finishes the two years. Its authority ends then, as a new election will in the mean time have taken place.

214. It is a common opinion, that the sittings of Congress are unnecessarily long; that day after day is spent in unprofitable debate. It is a rare occurrence in the British parliament, for the members of the House of Commons (more than twice as numerous as the United States' House of Representatives) to leave their seats until the subject under debate is finally disposed of. It is no uncommon thing for a debate in Congress to last for days, and weeks. Some of the long speeches, which are printed, are said to be delivered to an inattentive audience. It must be admitted, however, that in popular governments, ample discussion is more necessary than in those in which discussion may not have much effect on the final result; or, rather, where the result is usually as well known before as after the debate.