What will be the inevitable consequence of such lavish expenditures? Are they not calculated to disturb the nicely adjusted balance between the Federal and State Governments, upon the preservation of which depend the harmony and efficiency of our system? Greedy expectants from the Federal Treasury will regard with indifference, if not with contempt, the governments of the several States. The doctrine of State rights will be laughed to scorn by such individuals, as an obsolete abstraction unworthy of the enlightened spirit of the age. The corrupting power of money will be felt throughout the length and breadth of this land; and the Democracy, led on by the hero and sage of the Hermitage, will have in vain put down the Bank of the United States, if the same fatal influence for which it was condemned, shall be exerted and fostered by means drawn from the Public Treasury. To be liberal with their own money but sparing of that of the Republic was the glory of distinguished public servants among the ancient Romans. When this maxim was reversed, and the public money was employed by artful and ambitious demagogues to secure their own aggrandizement, genuine liberty soon expired. It is true that the forms of the Republic continued for many years; but the animating and inspiring soul had fled forever. I entertain no serious apprehensions that we shall ever reach this point, yet we may still profit by their example. With sentiments of the highest respect, I remain your friend and fellow-citizen, JAMES BUCHANAN. To these should be added an address made at a festival in Philadelphia on the 11th of January, 1851, on the establishment of a line of steamships between that city and Liverpool. The account is taken from the journals of the time. After Governor Johnston had concluded, Morton McMichael came forward, and said that he had been instructed by the Committee of Arrangements to propose the health of an eminent Pennsylvanian who was then present—one who had represented his State in the National legislative councils, and had occupied a chief place in the administration of the National Government, and in regard to whom, however political differences might exist, all agreed that his high talents, his unsullied integrity, and his distinguished public services had justly placed him in the foremost rank, not only of Pennsylvanians, but of all Americans. He therefore gave The health of the Hon. James Buchanan. When Mr. Buchanan rose to reply, there was a whirlwind of cheers and applause. In the midst of it the band struck up a favorite and complimentary air, at the end of which the cheering was renewed, and several minutes elapsed before he could be heard. Mr. Buchanan, after making his acknowledgments to the company for the kind manner in which he had been received, proceeded to speak as follows:—