Newspaper Page Text
j- - -M. I .Li . .L.J ■ ll J
CHRONICLE AND SENTINEL.
AUGUSTA. } / -1 £
FRIDAY MORNING, MAY t
The People are Moving.-’
From every section of the State, tbajt we have
been able to obtain any intelligence, jthe news
is of the most cheering character for the cause of
reform—and weentertain not a douot, (jhatin less
than one month, the cause of Harrisoiji and Ty
ler will be espoused with a zeal bordering; on en
thuxiam from the seaboard to the mountji ns. The
people worn down and prostrated by t'jif. folly &
experiments of an Administration, whejsj whole
energies have been put forth to paralyse every
class of business, are coming like free;ricp to the
rescue, and are determined to fiee tibemselves
from Van Burenism, alias experiments! and expe
dients. This is as it should be. Go oh we say
and hold meetings in every county—rally under
the standard of Harrison and Tyle?, land the
country will be freed from that misrule lind cor
ruption, which have cast their withering blight
upon the country from one extreme so the other.
We invite the attention of our readers to the
extract in this day’s paper, from I hi* f pecch of
Mr. John Campbell, of Virginia, late! ’I reasurer
of the United States, before his old f iends and
I ,
fellow-citizens.
Mr Cempbell was an orginal suppojtW of Gen.
Jackson, and continued his adherence! |o the par
ty even after the elevation of Mr. Vjaa Buren,
when, sickened and disgusted with t ill; policy of
an administration which he honestly j’i»gaided as
subversive of the best interests of his Country, he
renounced the faith, and, like a fr!ebmau, pro
s -
claims his convictions to the world. I; We regret
that the length of this speech pub
lishing it entire, we shall however !|iuko other
extracts from it, which we most jLeartily re
commend to our readers, ns comirjg from one
who has seen and knows tbe secret swings which
have actuated the present Adminh;i|ation from
the time it came into power until |l»c resigned
his office. I {
i *
Phrenology. : \
We are requested to call the attrition of the
citizens to the Lecture of Dr. this eve
ning at the U. S. Hotel. See Advertisement.
T
From the Charleston Courier of yis ter day.
Late from England*}
The ship Helen, Capt. Smith, atlived at this
port yesterday, from Liverpool, whence she left
on the 28lh ult. .%
We are indebted to Capt. Smith, |o; the Lon
don Times of the 25th and 26th u[t., and the
Liverpool Mail of the 261 h, from whjeh. we have
made some few extracts. There tpoears to be
no political intelligence of importancl;.;
The Helen brought but very f e vj commercial
letters. One that has been shown use. dated 251 h
ult, states that the sales of Cottouloa that day
reached 2500 bags, at the prices outlie previous
day. j
“ Liverpool, March 20—Preltv»fur Uplands
are worth 5| a s|c. —good, from 6 *o- 3 J.”
Liverpool, March 24. Co/to%j.--We have
only to report a moderate busines-d hi cotton to
day, the sales being 2,509 bags. American
were for export, and the remainder *o he trade.
The market is quiet, but with;),it change in
prices. I
Liverpool, March 24. —Cot tom —There has
been only a moderate demand for I oiton to-day,
and the sales of all kinds do not exi'tled 2500 bags.
The market is dull, but prices are It hho altera
tion. ■.
Liverpool, March 25.—T0-dayl’s sale of Cot
ton amount to 850 bags, including 500 Ameri
can on speculation, and 350 forjesport. The
market is freely supplied, but pri:|s are without
alteration. j s
Loir dom, March 26.—Great activity prevails
in the Roy .1 dock-yards at Chatham and Sheer
ness, and several line of battle shj jis ure in a slate
of rapid forwardness. Tbe Londo|, ninety guns,
it is expected, will be launched f|om the former
establishment eaily in the month-(of June next.
Orders from the Admiralty to tiijiat; effect were
received on Friday last.— Shippm'lg Gaz.
Savina—ln England alone the«capital belong
ing to the operatives in the Savings’ Banks now
amount to £16,000,000 sterling.-*- Lit. World.
London, March 26.—We hav[; received Ma
drid journals and private letters the 17lh inst.
hut they bring no news of importance. The
city still continued under marti?;i-'law.
STATE OF TRADE*
There was a decidedly belter J|;m«md for yarn
yesterday than on any market, day for several
weeks past, and sales were rapidly effected by all
who chose to accept previous raves. Many of
the spinners, however, stood out ; for an advance
and we believe in some cases an advance of a
farthing per pound was obtained on 40’s mule
yarn. For goods, too, there ylas a little more
inquiry, but it did not produce ;any improvement
in prices. The general feeling in the market,
however, was much more cheet-fal than for some
weeks past. —Manchester Guarflian.
London, March 26.—Mousy Market and
Citt intelligence. —A considerable scarcity
of money has been felt to-day i tin the stock-ex
change; several sales of consohj Save taken place,
and the prices of English securities, both funded
and unfunded, have been effected. Consols
opened at yesterday’s quotation*!, viz: at to
i for raonvy,and 90£ to I for account, but the
demand for cash caused a dec]i|ic of i, and the
last quotation is 80£ to f for suoney, 904 to £
for the account. Exchequer iidlLare 16s. to 18s
premiui. Money for short periods has fetched 5
and 7 p cent. :
London, March 26. Paris papers of
Tuesday are utterly destitute! of newt,. The
Ministerial struggle completely Mbsorbed the atten
tion of the press and the public on that day, the
former making a last appeal \to their respective
partizans to support or oppose; as th* case might
he, the vote of confidence in Ministers; the latter,
awakened in some sense to situation of the
country, expressed more of inyfrest in the conflict
about to commence than in |ilny that had for a
long time occurred. The Ocfurt parly had laid
aside all pretensions to modeh'ition. The news
paper* under its influence cai.i.rd for a direct re
fusal of the grant, in order tp- enact the ruin of
the Thiers Ministry. The Ltigilimatists would,
it was expected, support M. IHh-ers, not because
of their adopfon of him or jlris principles, but
because he was notoriously cp]po*ed to the con
tinued uncontrolled directiontaf the whole ma
chine of state by the King, anJ because in any
grave circumstances that mi;>|it arise out of the
contest something favorable’ *o the cause of the
Duke de Bordeaux might be giuiered. The Ex
treme Gauche, or Republic's, would probably
support M. Thiers, although their organ, the
National, condemned him throwing him
self into the arms of that pa|ty. M. Mauguin,
the liberalism of whose principles could not be
doubted, and who seems to fills'a station half way
b»t*veen the Republicans aniHt io Moderate Lib-
erals, of which latter M. Odillon Darrot may be
deemed the leader, had inscribed his name among
the deputies who proposed to speak for the grant,
(or vote of confidence, as it might be more
properly termed.) Thus tbe Gauche or Odillon
Barrot party, would appear the only one on which
the Minister could really depend; nevertheless
his friends affected confidence of his having a
majority. The serious position in which the
breaking up of his Administration would place
the country was admitted by every man who
spoke upon it, and might therefore be expected
to influence all those who desired tranquility.
The journals before us contain evidence of the
renewed pressure of distress in Paris. During
the first 20 days of the present month, 55 bank
ruptcies bad been declared in that capital; and
in the course of five days of last week 20 bank
ruptcies, some of them involving large engage
ments, (varying from K)0,000f. to 500,000 f.
each.) In fine, the sums drawn out of the savings
banks on Sunday and Monday last, exceeded
those lodged by very nearly 100,000 f.
Correspondence of the Baltimore Patriot.
Washington, April 24, 1840.
UNITED STATES SENATE. 111 TIES ON SILK.
Mr. Buchanan presented a memorial from cit
izens of Boston, praying that a proper duty
should be imposed on the importion of Foreign
Silk.
Mr. Buchanan made some remarks in support
of the object of the memorialists. Our climate
and soil were eminently favorable to the culture
of silk, and yet no protection was given to it, and
no aid and encouragement afforded by the Gen
eral Government. He referred to tbe large quan
tities of the article that were annually imported,
and expressed the belief that if a fair and p op;r
duty had been imposed upon it, there would have
been no necessity to call for an issue of Treasury
Notes. The subject was particularly worthy of
consideration at this period, when the public
Treasury was so impoverished.
Mr. Calhoun said he was clearly of opinion that
silk was an article which should bear a proportion®
ate duty. He had repeatedly said that he would
be ready at any time to go into a revision of the
whole Tariff; but other gentlemen thought such
a revision should not be made at the present
session—and he most earnestly thought it unad
visable to take up a single part of this great sub
ject. It must be all reviewed at the next session,
and he was opposed, under these circumstances,
to any partial legislation now.
Besides, said Mr. Calhoun, France is a great
market for our Southern sta >le—it is a daily
growing market for cotton. The principal arti
cles we take in exchange from France are wine
and silks. If the importation of these articles is
reduced to any greatexte.it, our commercial in
tercourse with that country will fall off necessarily
in the same proportion.
It is said (added Mr. Calhoun) that silk is a
luxury, and on that principle, a duty is to be
imposed. Some other article will be said to be
produced her**, and it must be taxed on that ac
count. And so, between these two principles,
the tariff will be brought up to its maximum. He
was not willing to establish the principle that
necessaries are to have duties imposed upon them
for the purpose of protection, and luxuries taxed
because they are luxuries. He repeated that
Erance, from which we received most of the silk
used in this country, was one of the best markets
for the productions of the South, and the trade
with that country was the great basis for the ex
changes of the Southern people with Europe.
The memorial was relerred to the Committee
on Finance.
GRADUATION BILL.
The Bill providing for the reduction and gra
duation of the price of public lands was taken up,
and passed, ayes 28, nays 8.
HOUSE OF RKPBF.SF.NTAVKS. GENERAL APPRO
PRIATION BILL.
At one o'clock, the House resolved itself into
Committee of the Whole, and took up the bill
making appropriations for the Civil and Diplo
matic expenses of the Government.
Mr. Atherton, of N. H. took the floor, and pro
ceeded in the continuation of an exceedingly ia
pid and desultory speech which he began yes
terday, but which so wearied his party friends
that they gladly consented to adjourn between ft
and G o’clock, though they had, at first,determin
ed to sit late, and if possible, bring the Bill out
of Committee before adjournment.
After he had finished, Mr. Mason, of Ohio,
took the floor and said he intended to offer a few
remarks on the provisions of the bill before the
committee; and the first he would notice, was
that which had engaged so much of the attention
of the Administration members who had pre
ceded him—namely, the section charging Gen.
Harrison with selling white men into s every!
[Loud laughter.] He had not read the section
himself, but as he saw in the Globe, and in other
Loco Foco publications, that the Administration
members always spoke relevantly , as well as with
astonishing effect, he had no doubt this topic, of
which ail had made so much, was embraced in
the bill. [Renewed laughter.] He would there
fore say a few words of this calumny which had
been a hundred times refuted; bu! which, con
temptible and false as it was, had been thought
worthy of being eagerly snatched up by every
parlizan demagogue, tor the purpose of making
some political capital for the Piesident.
Mr. M. then proceeded to reply to this charge
and other accusations made by Mr. Atherton and
his brother supporters of the Executive.
Washington, Friday evening, a
(About midnight,) April 24, 1840. >
THE NIGHT SESSION.
The speech of Mr. Mason, of Ohio, to-day, was
an admirable and effective reply to the calumnia
tors of the people’s candidate for the Presidency.
He lookup the charges with which the i peeches,
not only of such vulgar declaimers as Messrs.
Duncan and Watterson, hut of other Adminis
tration men who make some pretensions to decen
cy, have been freighted, and after triumphantly
controverting them by the most conclusive evi
dence, he* carried the wrar into Africa,” and ex
posed with power the abuses and corruptions of
“the party,” its leaders, and its Executive chief.
His notice of the trash which is daily thrown
out by the partisans of the President, about Gen
eral Harrison being under the surveillance of a
committee, was particularly happy. The truth
is, these slanderous minions of power, remember
ing how entirely dependent General Jackson was
on those around him for the expression of his
opinions or wishes in tolerable English, and re
membering, too, the comments made at the time
upon the qualifications of a President who wm
unable to write half a dozen consecutive senten
ces fit for the public eye—are anxious to attribute
to General Harrison the same incompetency.
Every man possessed ofcommon information con
cerning the political events and characters of that
period, knows that the man of the Hermitage had
constantly beside him persons who managed his
whole correspondence, and composed every line
of every public letter, and every State paper to
which his signature was attached. Mr. Lee, our
late Consul at Algiers, performed a great deal of
this service for him before his election to the Pre
sidency; and a cabal, of whom Amos Kendall was
a principal member, did the same duty after his
inauguration.
The Cincinnati gentlemen whose names have
been most gratuitously paraded before the public,
are not “General Harrison’s commi'tee,” as is
falsely charged. T.iey are the “Corresponding
committee of the Whigs of Cincinnati, ’ appoint
ed at a public meeting, which was held imme
diately after the Harrisburg Convention, for the
purpose of keeping up a communication with sim
j ilar committees in other places, and in dissemina
i ting such information in regard to Harrison’s
; public services as might be called for.
, As to this committee superintending his con
s science or opinions, the whole charge is an atro
i cious calumny, in which those who promulgated 1
i it have no faith. The opinions of General Har- |
i rison on all the great political questions in our '
i country, are before the American people. He
> has nothing concealed—nothing to dissemble —
i nothing to promulgate anew. All the labored
• abuse and misrepresentation poured upon him
1 through every Loco Foco channel, eannot shut
the eyes of the na.ion to his high character—his
s noble services—his devoted patriotism. Korean i
; they contradict the fact that those admirable ad
■ dresses and letters, reports and speeches, which
1 bear his name, were written by himself The
■ idolizers of Jackson cannot say as much for him.
Mr. Morgan, of New York, followed, and de
. voted a short time to exposing the absurdity of
« the ollen refuted charge which was brought up
1 again by Mr. Parmenter, of Massachusetts, that
the present Opposition party is identical with the
Federal party of ’9B. Mr. M. entertained the
House with a long list of “old Federalists” that '
have been, and continue to be, the loudest brawl
eis in the Administration ranks.
Mr. Rariden, of Indiana, spoke next with em
inent ability against the measures ol the Admin
istration, and especially its extravagance and cor*
| ruption.
Mr. Clifford then obtained the floor, and occu
pied it till midnight. In the meantime a large
’ number of the members went off to visit the at
| tractive Ladies’ Fair at Carusi’s Saloon: and a
I larger number, still, to enjoy the acting and say
ings of the sprightly and amusing Mrs Fitzwilliatn.
The spectacle at the fair was one of the most
delightful contrasts to that at the House, where
[ Mr. Clifford was administering his dose of Van (
Burenism, that I ever experienced. One was all
brightness and splendor; the other all listtess
r ness and stupidity.
Several attempts were made to adjourn, in the
course of the evening, hut they failed. Even
when the hand of the clock was rapidly reach
\ ing to twelve, a strong attempt was made to pro
long the sitting. The vole on the adjournment,
at midnight, was a tie—ayes si, nays 51. The
Speaker gave his casting vote in the affirmative;
and the House forthwith adjourned.
From the Natchez Daily Courier. (
Mr. Editor; I
The following are the reflections of an Amer
ican citizen. *
Who has seen all the efforts of the reduced
prices of labor in Europe. A poor laborer iu
Europe always remains a poor man.
Suppose the laboring man under a properly
managed banking system makes two dollars a day
of which by the strictest economy, he can save *
half, then at the end of three years by a proper
management of his money, it will amount to tho
sum of one thousand dollars or upwards. By re
moving to the Western States he can purchase
a half section of land of 320 acres for SSOO or
less. The remaining SSOO will support him un
til he can clear sufficient land, to enable him to
live comfortably on its produce, and each succes-
Isive year will enhance the value of his property
and thus make him independent. On the other
i hand suppose the price of labor and of domestic
articles is reduced one-half, so that a laborer could
save in like proportion, then at the end of thre.
years he will have saved only SSOO. Consequent
ly he will have to labor three years more in ordt
to make up SIOOO, wherewith to procure hirr
self a home.
Foreign products will not he lowered in pric
in the same proportion, as domestic, becaus *
their prices are fixed in a foreign market; consei
quently the consumer continues to pay nearl
the same price, notwithstanding his own pric *
and every thing else is reduced.
Let the laborer choose between the two. Lr
him decide at the ballot box, whether he wi
work hard tnree years or whether he will prefe
six years to gain a competency and indepen
dence.
Let him choose at the ballof box, whether be
prefers a well regulated banking system with tw
dollars a day convertible into specie (as the Un :
ted States Bank was) or whether he prefers th.
Sub-Treasury system, with one dollar specie e •
the price of his daily labor.
Let him decide at the ballot box whether h
will vote for W. H. Harrison and get two dullan
or vote for Martin Van Buren and get one.
ANTI-HUMBUG.
In noticing the tone of the Locofoco papers
the reader will remark that they generally as
stain from alleging any reasons why Mr. Va
Buren should be re-elected. Since the Harm
burg nomination, the administration press ha
been filled either with atrocious personal defama
lion of Gen. Harrison, or assaults on his militar
skill; but with the exception of an occasion!
i mouthy tirade in favor of theoretical democracv
i it has been studiously silent as to those transcen
f dant merits of Mr. Van Buren, which entitle bin
i to the unbought suffrages of a free people. Th
secret of this is obvious—the career of Mr. Vai
i Buren is singularly sterile in those acts whicl
■ ensure popular admiration—his political life i
, devoid of a solitary claim to public sympathy
His private, while undoubtedly that of a gentle
• man, is wanting alike in those shining qualitie >
which captivate the mass, or those sterling virtui
: which extort respect and esteem even from poll
[ tical opponents.
Mr. Van Buren has never projected or carried
into execution a single measure calculated t
promote the prosperity and augment the happi
ness of the people. From his entrance into pub
lie life as a representative in the legislatuie c.
} New York, to this, the fourth year of his presi
■ dential term, he has proposed nothing to recom <
. mend him to the people. Other statesmen has
, their pretensions upon their acts, but it has beet
. reserved for the candidate for the most exalte*
• office which the nation can confer, to claim the
suffrages of the majority upon mere professions.
r During the whole of Mr. Van Buren’s presi
dential term, disaster and suffering have visitn .
the country. A blight has fallen on industr>
f Labor finds, no longer a recompense. Integrity !
ability and enterprize bring forth no fruits. Mis
i ery is rife in the land. Commercial convui (
- sions and total stagnation have alternated will
i frightful rapidity and to the inconceivable detri
i ment of the community. With all this accumu
- lation of evil the administration stands charge
; by a very large proportion, if not a majority r;
s its constituency. It is accused as having tan:
• pared with the currency, and destroyed the roo* f
! perfect monetary system ever possessed by a na •
i tion. It is further accused of remaining the pas
• sive, if not the exulting spectator of the ruin i
! has accomplished. When called upon to reliev.
. the calamity of which it is believed to be the au
■ thor, it replies that “ the people expect too much
t from the government.”—A tacit admission that
I the power which overturned the currency and
i brought all the subsequent mischief, is wholly in
s capable of mitigating the sad consequences of its
> own wild and destructive policy.
What then are the claims of the executive to
f re-election. He has deliberately declared his in
• competency to remedy the existing evils; and
i even admitting, for the sake of argument, that the
i Jackson Van Buren administration is not the ori- 1
gin of the distress that has prevailed in the coun
! try for the last four years, it is time that a party
under whose calamitous rule nothing but misfor
tune has occurred, should give way, and 1
planted by those who not only contend that the ■
government is bound to protect the people, regu- <
late ihe currency, and advance the public weal, 1
hut are prepared to urge the adoption of meas |
ures calculated to attain the great object in view. ,
It is time that an administration, prolific only in i
evil, and characterised by a policy-that is either
passively insignificant or actively injurious, but
never decidedly beneficial, should be succeedcc
by a party whose motto is REFORM ; who hold
that the people justly expect something from the
government; and declare themselves competent
to give them all they require, viz : a sound cur-
RESCT AND AN HONEST AND ECONOMICAL AD
MINISTRATION. — N. 0 Bee.
General Harbison’s Character Defen
ded bt a Loco Foco Journal. — The follow
ing manly rebuke addressed to the traducers of
General Harrison, is from the Ohio Confederate
a Van Buren Journal.
General Harrison.
“A superanuated and pitiable dotard.”— O.
S. Bulletin.
“As the petticoat General passed through
town,” &c. — Dem. Spark.
Who is he whom we are describing as the petti
coat General—a superanuated and pitiable do
tard Yourselves will answer —and that not
on compulsion—political aspirations out of view,
yourselves will answer most frankly,—he is a
tried, and a worthy citizen ; ay, “ seven limes
tried, is he”—in the ordeals of fire and water.
While yet a stripling, you will say, he gave him
self to the arduous service of his country; he
exchanged the joys and the safety of family and
home, for the perils, and the hardships of a
dreary wilderness and a savage enemy. For
forty years, thenceforward, did he devote himself
to his country; in peace and in war, in danger
and security in the camp and in the closet, in the
Senate and the battle-field, did he serve that
country in true fealty and untarnished honor;
until even now, grown grey in that hard service
which has brought him nothing hut a glorious re
putation and a conscience void of offence against
the obligations of patriotism, he stands in his
old age, among the millions who surround him,
a model of official purity and uncorrupted integ
rity. And this is the toil-worn soldier and hon
ored citizen who is described as a “ superanua
ted and pitiable dotard,” and a “ petticoat Gen
eral !”
Brethren, if we believe another to be the bet
ter statesmen, let us say so. If we think the
aged patriot entertains opinions and sentiments
adverse to the important interests of our country,
let us canvass unreservedly those sentiments and
opinions. But in the name of humanity and
gratitude, let us not tanat the war-worn veteran
with the decrepitude of years, which comes to all
of human kind, nor touch with rude and unfeel
ing hand, his hard-earned garlands, won on
many a bloody field, where brave men fought!
Gentlemen, there is a vast difference between the
goose-quill and the death-dealing sword—a
mighty contrast between the sufferings and the
dangers of a tented field, and the soft and easy
life of the critic who despises it.
“Free negroes are almost the exclusive occu
pants ot log cabins !” exclaims that administra
tion organ, the Baltimore Post, in a scurrilous at
tack upon the life and habits of the venerable
Harrison.
What think ye of such insolentjsnecrs at your
humble but goodly tenements, ye tens of thou
sands of log cabin boys of the West and South
—ye, whose hands of strength and hearts of fire
have ca r ried your country’s dominion over a
region more extended than the noblest empire of
the Eastern World !— Lou. Jour.
A Strong Document.
We invite the attention of our readers to the ex
tract below, from one of the most candid, satisfac
tory expositions we have ever read—being a speech
recently delivered at Abingdon by the lion. John
Campbell, late Treasu'er of the United States.—
Mr. Campbell wes in office several years, and en
joyed peculiar op( ortuniiies of acquiring a thor
ough and practical knowledge of our financial af
fairs He sums up his objections to the sub-Trea
sury scheme in the following very striking and for
cible remarks :
1 hope, fellow citizens, 1 have made myself un
derstood. I care nothing about phraseology, if 1
can be intelligible. This is the substance of my ar
gument —That thia suh-Trecsury system, which re
quires the people to pay up all their public dues in
specie, can be of no benefit to the mass of the peo
ple That so far as the general government is con
cerned, it has been tried by a regulation of the 1 rea
sury Department, after the banks had suspended
st»ecie payments in 1837 ; and that tune and expe
rience, the l ost test of knowledge, has proved, it
can bring no good to the people. That the great
mass of the people will be compelled from the value
of our (Militical system, and from habit, to use bank
paper or government paper, from its convenience
and great facilities
't hat a government paper system w r ould be at
tended with infinite more mischief than the bank
ing system. Thar if the ha.iks were all to be put
down, the paper system would rise up immediately
in some other form. That ns the people are com
pelled from the necessity of the case 10 lake naper
in their ordinary transactions, and for every thing
they sell, the government ought not to require of
them pay men; of specie in us collection of the pub
lic dues.
Th it the revenue flow's out *f the Treasury in
discharge of the public debts, as fast as it flows m
payment of the public dues, and instead of flowing
imo the calculation fro.u the sub-Treasiirers, it will
flow directly into the hanks, if at par, or into the
hands of brokers if above par, and that lha paper
w ill be used in lieu of it in consequence of its su
perior convenience.
That ihe pap*r will be the circulating medium,
whethern is at par or below par. Whether the
hanks susj end or are making specie payments
I hat if the paper is at par or equivalent to specie,
it will always be preferred to it because it is more
convenient. It it is below par, that then the spe
cie collected by the government and paid out to its
officers, will be sold for a premium and not go into
the circulation, as we haves en illustrated at the
seal of Government, when ihe banks suspended
specie payments in 1837. That the people of this
country,at a distance from banks, at a time of great
pressure in the money market, will find difficulty
in obtaining specie to pay their public dues, and
that their property must be sacrificed ns a necessa
ry consequence if specie ii demanded for taxes,
and that the public money would be rendered more
unsafe in the hands of individuals appointed by
the President, and removable at his pleasure, than
in the hands of good sound banks that have no
legs and can’t run off. That nothing of any con
sequence :ms ever been lost by the banks, except
during Mr. Crawford’s administration of the Trea
sury Department, who transferred the public money
into bafiks, not for safe keeping, but to preve* t them
from breaking. That although the hanks have sus
pended specie payments in late years, in which
were deposited the public money, they have not
proved insolvent, and have paid, or will he able to
pay, every cent they owe the government That
the mere circumstance of the banks suspending
specie payments is no more evidence *f their in
solvency than the refusal of an individual to pay a
debt on the day it was due, was evidence of his
bankruptcy. That the Slate governments have
sustained their banks in their suspensions,shewing
that they thought under the circumstances it was
best for the community, that they should have done
so. That if these banka that have suspended are
to he regarded es insolvent, and called “ Bankrupt
Banks,” how does it happen that iheir notes buy
every thing now the/ did before they suspended ?
That all this clamor against the par or system, is
useless to say the least of it, and the statesman who
supposes he can benefit the people by it, and give
them a specie circulation, only affords evidence
that he intends to deceive them, oi shat he is unfit
from his ignorance to he ent.usted with the public
confidence. That the subject of the currency is a
very difficult and intricate one, and ought to be left
alone when in a tolerable good state. That experi
ments ought not to be made upon it without the
experimenters had given some evidence they were
masters of their subject, and that more mischief
had been done to it by “financial quacks” and pre
tender*, than all the other clc ;ses of society put to
gether.
Hen> are 86 Governments, all sovereign and in
dependent of each ofher, ami completely sovereign
in relation to the subject of Ranking If we we're
even to suppose w hat never will happen, and what
never can happen as long r-- they exist as indepen
dent Governments, that two-thirds of the States of
this Union, would put down their hanks, the re
maining third would furnish a paper system for the
♦
' whole Union. Ftonmylvanii end New York can tlo -
it. And yet we are told by a distinguished Senator
of the United blares ; the confidential friend and
organ of the President, on the subject of currency,
that the General Government can effect what Bo
naparte perfoimed in the Frtnch nation That the
General Government has the same power over the
currency of the 29 Slates, that a military despot,
holding jn hi? own hands the reins of power and
giving direction to every thing as it suit, J his sov
ereign will and pleasure, had over the daatiuies of
France! Here are hit words • “The great Empe
ror of France r.tsed the currency of France from
all paper to all specie in six years ” He continues :
“ The gigantic wire —ihe National defences—the
almost fabulous expen c of the imperial court ha J
carried the annual national expenses to 16(1 mil
lions. and the whole was paid ;n gold and silver,
40 millions of | cople uted nothing but gold ami
silver. And cannot we increase in three or f .ur
years our specie from 90 millions to an amount suf
ficient to pay all the expenses of all wars and fir
nish a common currency of specie to the people?’’
And h« r ponds himself by saying “ surely we
cun ” Here is an idea of the powers of the Gener
al Government over 26 so vere’gn States in relation
to a subject ovei which they have unlimited con
trol. How is the Gene al Government to p event
the States from chartering banks ? How is the
General Government to prevent the people of the
Stages from n>ing bank paper ? How in it to pre
vent them from availiriir themselves of its conve
niences and facilities? I should like to sec the
clause of the Constitution of the United States
which gives »o that Government any such power !
And yet we are told it can do what Bonapartj did
in France, in relation to tlie currency !
This siren voice which sings an animal song to
us of the coming of the golden age, we have heard
for the last ten years. Those who can be gulled
by it have lived in this world to ’itvie purpose, and
know little of the business hahiis of ike people of
this country or of the principles of onr free ins i
tutions
Fellow-citizens, I have stated to you, and I repeat
ihe remark, that experience is the best test of truth.
That these systems we have tried and nave wit
nessed their failure with our own eyes, we should
have no confidence in I witnessed the practical
operation of the celebrated specie circular as »l was
called; which was an order from the Treasury L’e
parlment under the direction of the President of
the United States, that nothing but specie should
be received in payment of the public lands. To
my ceriain knowledge it did not bring one specie
dollar into circulation among the people The
lands were paid for in specie, in the 'Treasury of
fice, and to the receivers, and then the specie was
taken hack into the Banks instead of going into cir
culation, and the public creditor! who had the
Treasurer’s draft upon the Banks, took the notes
of the Banks in preference to specie, because they
were mure convenient. Any one of them could
have had the specie, if he chosen to receive it,
but he preferred the notes.
The drafts that were given upon the re eivers in
the West, were negotiated wi;h the Hanks, and the
Banknotes were taker,and the specie in the hands
of the receivers, went into ihe Banks instead of in
fr» the circulation. 1 disbursed when at Washing
ton, about 3( 0 millions of the public money beforu
the Banks suspended specie pay in nte, and nearly
the whole of that sum was paid in Bank notes,
when the public creditor had Ihis option to take
specie or the no es. Why did the public creditors,
who had my drafts upop the banks, lake ihe notes
■ in prrfeience to specie when they could have had
. the specie if they had demanded. No other an
. swer can be given than that they preferred the notes
because they were more convenient.
Here then, is a fact which is conclusive, that ih i
hank paper will be the circulation of this country
until it is substituted by Government paper. The
• organs of the administration have disclaimed ail
i idea of a Government pap* r system. It is now aJ
, milled on all hands that the destiny of this Repub
| lie is sealed forever, when the circnlati g medium
. consists entirely of paper issued under the author!-
‘ ty of the General Government. Under such a sys
tem we need no longer talk about State sovereign
tics and the liberties of the jieopie. They will be
al the feet of the General Government, and it must
become a simple consolidated despotism. It would
soon hoard up in its vaults ali thespecre of lha na
tion as is the case now in Russia, and the people
would have ihe Government paper as its represen
tative 'i he streams of specie would he const ml
ly running troin the people in payment of their
taxes, under the Sub-Treasury system, into the
vaults of ike Government , whilst the Government
paper would flow out as'.he circulating medium,
until t lie whole country would be drained of specie
and flooded with Government, paper. Every man
then in the nation would be more or less a creditor
of the Government, who held any of this Govern
ment papier in his pocket, and of course m'erested
in sustaining it in all its usurpations and despotism
Under such a system, would it notne perfect mock
ery to talk about liberty? In tins view of the sub
ject, how can the sub-Treasury system give a spe
cie circulation ? T(.e Government creditor would
do precisely as he did before the establishment of
the Sub-Treasury system when he had his option
to take the notes of the banks or specie, anu al
ways preferred (he former.
If each man hoaids up specie to pay in his taxes,
that dont pul it in circulation. It has exactly the
contrary tendency. The circulating medium, is
that money which the people generally receive
when they sell anyth ng, and pay out when they
buy any thing. Specie hoarded up to pay taxes
would be used in neither buying or selling. It
would be laid up to meet the demands of the Gov
ernment. When pa d up to the government, it would
go off to the Sub-Treasury vaults—from thence, it
would be paid out to the • overnment claimant,
. who would sell it to a broker, it it was worth more
than Bank paper, and lake notes in exchange, or he
would exchange it at bank for its paper, if it was
worth no more than the pjper. How then are the
people to be benefitted by the system, which is to
drain our ceuntrv of specie, which w ill require them
to hoard up the little specie they may have ready
for the sheriff when he comes around or to have
their projierty sacrificed lor half us value, if they
should be unable to obtain it. The system, instead
of giving us a specie currency, will drain the coun
try of it, and banish it completely from circulation
If the system is to be founded to the General
Government, it can be of no conceivable benefit to
the people. 'To say nothii gos ihe great losses that
will be sustained by defalcations, by placing the
public money in the hands of individuals, it will in
crease the pressures in the money market—muliioly
the suspensions of specie payments—prolong their
continuance,and instead of giving their people a
specie circulation, will rivet upon them completely,
a depreciated currency.
Fellow-citizens, lam no bank partizan. I never
borrowed a dollar or accepted a favor from one of
any kind Holding a highly d licato and impor
tant trust, during a long period of public life, in re
lation to the public money, 1 loitud it necessary to
keep myself clear of all pecuniary entanglements
with banks and in 1 viduals. I am no advocate of
the excesses of bunking, or ol a depreciated paper
currency. I simply deny that the Sab-Treasury
system will cure these evils, so far as they affe t
j the people. On the contrary, Isay it will aggravate
them greatly and make them more intolerable.
So much lor this Sub-Treasury system, which
has been recommended by the President,Hour times
to the American Congress. With ail my iiiattpem
hie objections to it, I consider it a more innocent
measure, and even less consolidating and despotic
in its character, than other measures wlnch he'itm
pressed upon Congress, and upon all of which I
will take the liberty of submitting my views in
due time.
A Son Biheaded nr his Mother. —The
Journal de Smyrne gives the following story on
the faith of a letter from Adrianople, says it has
i no doubt of its truth, although it admits that se
veral dramas have been funded upon a similar
occuirence :
“ About twelve years ago a young Turk left a
village near Adrianople, for the army. Towards
the end of January he returned, and conclu
ding from the change in his appearance that he
could no longer be recognised by his relations, he
applied at the dwelling of his mother as a stran
ger, and requested hospitality far the night, inten
ding to make himself known to all the family in
the morning, as he had already done to his sister,
who lived in another part *of the village, and to
whom he had confided his intention of causing
an agreeable surprise to their mother. The old
woman made some difficulty in complying with
his request on account of her poverty, but at
length consented. In the course of the evening
the young man drew out his purse, in which
there were about 2,000 piastres in gold, the fruits
of his economy. At the sight of the go'd, an in
fernal thought came over the mother, and. when
her son was asleep, she cut off his head with a
hatchet, and having taken the purse concealed
the body.
Early on the following day the
».c.im died on her to inquire after ’° f
who had p.,.ra ihe night under her
surprised at not seeing or hearing ’ and
told her mother that the stranger wj sh «
son, and related the proje t which he had ° Wn
ved for revealing himself to her ti C ? ncei '
struck mother now confessed the crime If . r
she hau been guilty, and her cries of re f
vtn r brought the neighbors to the s ha '
taken into custody.” i 01 s^e '
Crevasse at New Carthaoe -
has broken through the hank at \J W r L r ‘ Ver
m Madison county, La.,and made a Larlha Se,
about fi .y yards in wtdth and about t J. IUVAM *
deep, from the river to the bayou in ke!
the town. The rupture ls b 1 rear °f
the water rushes through it with I llla “ e ’ an, l
ficent toeuek in flu uStlt’"S"*
shore. One, laden with hey, " OD S «>«
•mce drawn in and eto.e a jain.t ° r '*»
and sunk. ° lni,t some
By the present time the rise in th* •
proW.ly o,e r fl.,wed the entire front of sZt
Jhe irruption of the water iKv i
or down and on IhoV" ' V a “* m “ Dle '' liu ‘ rise low.
dir,./ Aj,ri °iu, ra,M *-«rfc Fm
Convi-nees perSonth
Hambvro, April 30, IS4O
eese & Beall; Stovall, Simmons & Co* T n.
son; Baird U Howland; w Woodbury. T j p
Ice; Rankin. Bog,, ft Co; A Frederick; W K
•”> Warren; Haviland, Ri s ! ey &Co n
Tilton; J Thompson; W H Hauler; FII Cook’. *
W Houghton; T Richards; J Wightman; “
P Carre; Pommy; H R Cook; E Boyce; D P i Unk | !
G Parrott; J F Benson. ’
■b————a———
COMMERCIAL.
Latest dates from Liverpool,.
Latest dales from Havre ' Mar ch u
r .. , . New Orleans, April 25
Cotton. Arrived since the 2l>t instant of In., a.
mana and Mississippi 2138 bales, Tennessee ■
North Alabama 982, Arkansas 62, together aS I
bales. Cleared in the same time, for Liver™."l ■
4422 bales, Amsterdam 1536, Havana 600 « 0 !Z m
242, Baltimore 32, together, 6532 bales-, m’akS |
reduction in stock of 3650 bales, and leaving 8 0 IF
hand, inclusive of all on ship-board not cleared n! '
the 24th insl.. a slock of 207673 bales.
The dullness which characterized the Cotton
market at the time our report of last Wednesday
morning was made up, was succeeded by a tolera
bly active business ou that day, buyers having been
induced to operate more freely in consequence of a
the part of holders to accept rates
about a quarter of a cent lower than were before
demanded. The sales were principally
list', and am mnted to 4SOO bales. Early onThurj
day morning the mail arrived with advices Irom
Liverpool to the 20th, and from Havre to the nth
of March, brought by the packet ship South Arm
ica, at New York. Since our accounts of the 16th
the stock of Cotton in Liverpool had been further
increased by heavy imports, and the market con
tinued very dull and inactive a: an fd decline oa
the 'ower qualities of American. From Havre the
news is also unfavorable, prices of the inferior and
mi Idling sorts of Amciican Cottons bavin; declin
ed from 2 to 3 centimes since our advices of the
7th; and the market, even at this reduction, is re
ported as being exceedingly tint
In consequence ot these accounts our market be
came remarkably dull on Thursday, but few buy
ers evincing any disposition whatever to operate,
and the sales, which only reached to some 1300
bales, were made at a decline of fully a J of a cent
on our quotations of Wednesday morning. Yes
terday the demand was again very limited, only
about 1500 bales having changed hands, and the
i market closed extremely dull at the decline noti
ced above, to which our quotations have been made
to correspond. The sales during ;he week amount
to 13,000 bales, and for the past three days to 7600
which we notice as follows, viz: of Louisiana and
Mississippi 110 at ss, 42 at 6,31 at at s^,
30 at 5, 84 at 7}, 110 at s}, 122 at 7, 150 at
at 8, 28 at S|, 75 at 6|, 247 at 7|, 109 at 6|, 516
at 7. 132 at 9, 58 at 7J, 20 at 6s, 400 at —, 20IS
at 7J, 1087 at ?£, 300 at Ik, 399 at —, 220 at 7.40
at 7, S 3 at 7|, 34 at 6A, 125 at 6|, 26 at 7f, 150 at
9 cents, and 320 N. Ala. at 7 cents.
LIVERPOOL CLASSIFICATIONS.
Louisiana and Mississippi —Ordinary, 5| a s|;
Middling,6| a Fair,
Good and line, 10 a—. Tennessee and N. Alaba
ma—Ordinary, —a 5; Middling, a6; Fair, 6j a
7; Good fair, a 7|; Good and Fine, B}.
STATEMENT OF COTTON.
1339. Oct. 1, stock on hand, 15824
Receipts last three days 3152
“ previously', 805981 SOP 163
824987
Exports last three days, 6832
do. previously', 6 1 0482 617314
Stock on hand 207573
Sugar — Louisima —The demand in the city
has further improved within the last few days,and
quite an active business has been done in the va
rious qualities from inferior to strictly prime. The
latter description continues scarce, and, indeed, the
whole stock ou the Levee, which consists, princi
pally, of the inferior and middling qualities, is very
much reduced, the receipts having been light for
some days past. —We continue our quotations«■
their former range—say 2} a cents, remarking
chat the slight improvement in the prices of the
better qualities, noticed in our Wednesday’s report,
is fully sustained, and that the inferior grades have
recovered a little, and become more firm, within
the last day or two. On plantation there is little
or nothing doing bey'ond the shipments on planters
account. The only sale that has come to our knowl
edge is 100 hhds at 4 cents.
Molasses. —There have been but light receipts
during the last few days, and at the same time»
very fair demand; —consequently the stock, for sale
on the levee is reduced to a moderate quantity;—
pi ices, however, are without change, and we sti.>
quote at 18 a 19 cents per gallon in barrels, which
rates are readily obtained for parcels in good order
We note a sale of 20,000 gallons on plantation
above the city at 14 cents. This is the only fran
saction which we have heard of—lots below tbe C! '
ty' are still held at 15 cents.
Four —ln our Wednesday’s report we repre
sented the market as being rather quiet on the da.
previous, at $3 87£ a 3 94 for
then there has been some further demand for jk
port, and sales have been made to a fair extent »■ R
shipment to England, to the West Indies, aau- f
northern ports. We still retain our formerqu ow! '
lions of $3 87£ a 3 94, but remark that the gre iter
part of the sales have been made at $3 90-
receipts of the last three days are about I2, w '
barrels. ,
Bacon —Alirge supply of both Western*^
City smoked Bacon has accumulated upon the
ket, there having been scarcely any demana v
several weeks past. We cannot, at present,
any change in our quotations, as they re P^ e9 o 6 j n li
nearly as possible the range of prices obtaine
the very limited parcels to which transaction a
confined, but we remark that the tendency ls
further decline. ,: tv
Lard. —The demand for Lard of prime q’ l *
continues active, and holders of this descrip
have obtained a further advance. We note a
of 2003 kegs very superior at 11 centa.
have also been some small sales at the same P
and some holders of strictly prime parcel-'.
are scarce, refuse to accept less. M°stO‘ tl,e
is of rather ordinary quality, and as buyers w
vana will take none but prime, the inferior g
are in but little request. *We quote at 9y a .
Whiskey. —The market has a large supplh
only a limited demand exists. We still qn
23 a24 cents pergallon for Cincinnati j a y o:
marking that mest of the sales for the U st
two have been at the lowest figures.
Coffee. —The demand for Havana P rl ® .Tying
continues active at 10 a 10|; —inferior to m
is in less request at 9£ a 9|. Rio is
and the small stock is in few hand*.
readily affected at
tations include both cash and time sales.
Lead . —Wc note sales of about 2000 pig* * j
a 3 62k, which is a comiderable decline- >
the lots in market arc held above these rat«*