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| -*■- Cs' K*' If mr WILLIAM E. JONES & Co. AUGUSTA, Gv. THURSDAY MORNING, NOVEMBER 7, 1839. Vol III—No 108 T3E CIIRONK L.S AND SKXTJXEL PUBLISHED, 1 ILY, TRI-WEEKLY, AND WEEKLY, At No. Broad-street, t e n m s: Daily paper, Ton Dollars per annum, in advance. Tri Weekly paper, at Six Dollars in advance or | S 'ven at the end of the year. IVc nely papjr, Three Dollars in advance, or Four at i the end of year. \ GEORGIA HAIL ROAD. Merchants and others forwarding goods by the Georgia Kail-Road, are paiticnlarly requested to have the name of tic owner and the place of deslina iion marked in full on each package ; also the name of the Depot; and to fill the receipts in all ernes to cnrretpor.d r/'iVt the tmtTlts. iho o v. ace of the above rules is desired, to prevent di 'ieutties that have occur.rd in i’orward . ing goods intended for different person ; , hearing ■ the fame mark. nag 5 Omen I'r\Nspcßr\T!o>i,^ An;km.July 29, 1839. _S Ktiduedinu nf I’Toriiit on l{ai!-!!c:id, ! 'ne.fourth less than customary, on all up freight from G.haileston to Aiken and Hamburg, when j cqna. (a a car load, {say 5 lOOJbs. weight, or 3 '0 i foot measure nont.) Lorn this date to first Septem ber next. VV.M. ROUHRTSGN. Jr. Agent Transportation. £jr-The Constitutionalist will insert the above. o l:oI?tai kail.road. mm Freight is now conveyed on the Georgia Rail- Road, between Augusta and Greensboro, at the following rates: Merchandise, of all kinds, 40 cents per 100 lbs. Cotton, $1 50 per bale. C. 1 Baldwin, Agent for tho Company, t Greensboro, will receive and forward freight with out charge. Merchandize for the way stations will he for ,,, warded from Augusta on Mondays, Wednesdays, end Fridays. RICHARD PETERS, Jr. Sup. Transportation Geo. U. R. Jane 30, 1539 July 12 GEORGIA HAIL KOAJ). The Passenger Train, carrying the great mail between New York and New Orleans, leaves Au gusta every day at 0 p. m., and arrives at Greens boro at 1 a. m. Loaves Greensboro at 9 p m., and At arrives at Augns a at a. m., in time for the " I liarleston ears. Stages run in connection with this train from Greensboro for New Or,cans, (two daily lines) via Indian Springs,Columbus, Montgomery and .Mobile; for New Orleans, tri-weekly, via Clinton, Macon, and Pensacola; for West Point and Wetumpka, via Uarnesville tri-weekly, for Rome, tri-weekly, via Covington, Decatur and Marietta; for Nashville and Knoxville, Tennessee, tri-weekly, via Athens, Gainesville and Cassville; for Washington, Wi kes county, tri-weekly, from Double Wells; for New Orleans, daily, from Warrcntan, via Sparta, Mil ledgeviße, Macon and Columbus ; forMiilcdgevillc, tii-weckly, via Greensboro and Eatonton. Connecting with these lines are branch stage linos to Tallahassee, Columbus, Miss., Tuscaloo a, Newnan, C oweta county, Ga , and Clarksville, Ha bersham county, Sac. An accommodation Day Passenger Train leaves Augusta on Mondays, Wednesdays and Fridays, at 6 o’clock, a. m., and Greensboro on Tuesdays, Thursdays and Saturdays, at 7, a. m. Fare on the Kail-Road to Greensboro $4 25. Office Georgia Rail Road & Bk’g Co July 12 Augusta, June 30, 1839. S NOTICE TO CAPITALISTS. Valuable Cotton Manufactory and Slave Operatives, for sale. va ILL BE SOLI), on the 2d .Monday in Dc w.Y ccmbernext, at 10 o’clock, A. M. on the premises, the following property, belonging to the Saluda Manufacturing Company, viz ; Tho MILL LANDS, situate on both sides of the Saluda River, at Beard’s Falls, 3 rni'cs from Co lumbia, S, C'., containing 159 acres; the improve ments, consisting of Cotton Mill,Saw Mill, Black smith and Machine Shop, Hotel, Store and Ware house. Boarding Houses for Whites, and Cabins for the Negroes,Sic. icc. and the Machinery, consisting of 3838 Spindles, and 64 Looms, and all the Appur tenances pertaining thereto, will bo sold in one lot 6(i a credit of one, two, threa and four years, the interest on the whole amount to bo paid annually, the payments lo be secured by Bond, Martgage, and personal security, the Charter of Incorporation oto Lc transferred to the purchaser or purchaser* of the property. x Also,til Slaves on a ticdil of ninety days, for Kotos with approved endorsers, bearing interest payable at the office of the i ompany, in Columbia, S. A property combining the advantages this possesses,is re rely offered to the public, his lo cate I in a healthy region, with an immense water power, and line sites for other Mills. There .s an inexhaustible supply of the finest Granite on the premises, and Pitch Pine Timber in abundance; it is at the bead of the Cotton market, where the raw material can'be obtained without the heavy ex penses of transportation, insurance, receiving and forwarding commissions, wharfage. Ac. It has hitherto mot a market for its piodu, ts, almost ex clusively at home. The ■ ill is built on the most approved plan, of granite, 290 feet by 45, four sto ries high,and is now but half filled with machinery. The Machinery is of the very best description and finish. The Slaves are trained to the operations of the Mill. The Louisville, Cincinnati, and * Charleston Rail Road, is expected to he completed to Columbia, in tho course of a year, which will greatly facilitate the transportation and delivery of its manufactured goods. D. I'D ART, President aug 30 w!st Saluda .Manufacturing Co. INSURANCE COMPANY OF COLUM BIA, A. C. fSN'TE above Institution' has been successfully R conducted for several years in tin lown of G(dum’jia, S. C. A considerable portion of its capital is invested in Bank stock, the rest in good securitleu All established claims for pioperty lost, insured by this Company, or any of its agents, will be promptly paid as heretofore, and the same promptness wid be adhered to in future, which should entitle it to ashare of public patronage. ANDREW WALLACE, President. Columbia, June 8, 183.9. The subscriber having been appointed Agent for the above Company, is now prepared to take Fire Risks on Buildings, Merchandise and Household Furniture. He will also make Insurance on Life. All losses will be promptly adjusted and paid. The rates of premium will he the same as charged br other offices. He solicits a share of public patron age. J. G. DUNLAP. June 24 ts PINAL NOTICE. - ALL persons indebted to the estate of Hugh Nesbitt, deceased, for rents, are requested to make payment before the first of December next All who are in arrears at that time, will find their notes and accounts in the hands of an attorney for collection. Those havingclaims against the estate will present them for payment before the first of December, as the estate is about being finally set tled. No claim presented afterwards will be paid by JOHN MOORE, Executor. October 25,1839. Gt I He (in 11 Os she Committee of Twenty-One if the Plan ters' and Merchants' Cante ill ion. The Committee to whom was referred the re solution instructing llicm lo present the subjects on which the Convention was called upon lo de liberate mid act, heg leave to report: That alter the full exposition which is con tained in the Colton Circular adopted by the Planters and Merchants, at their meeting in the City of New \ ork, on the 3th of July last, they deem it in sunc degree superfluous, minutely to explain or lo enlarge on ihe points submitted to the people of the Colton growing States, in that document. Wo have therefore convened for the purpose of considering: Ist. Whether there ho any inherent defect in the mode, and manner of shipping our great sta ple under the exuding system of advances, made by tho agents of tho faroigu houses, through whom it has been hitherto principally exported'! 2J. Whether, if the injurious tendency of the system be demonstrable, there exists within our selves any remedy] Wo will now, as succinctly ns pnssii le, pro ceed to the discussion of these points. It is well known that with tiie exception of the very inconsiderable portion of the crop purchas ed under direct orders, for the spinners, and for foreign account, the great hulk of our cotton is shipped either by the planter or merchant, or dealer, under advances made by the agents of foreign houses. Tho mode in which this opera tion is conducted, is as follows: Usually, the Banks in the Southern Slates ad vance the money that moves forward the whole crop, (or nearly so,) on letters of credit, as se curity. The bills founded upon these securities', are usually at 60 days sight. They arc forward ed at once; but the cotton being much more tardy iu its movement, they frequently mature, before its arrival; and the cotton has to ho forced upon tho market; or the acceptor of the bill has to pledge the cotton to brokers or bankers, lo raise the money to meet Ids acceptance. This may he done when money is plenty, without difficulty; but the moment it becomes necessary for the holder of the cotton, or the hank, to realize ilie funds advanced on it; then the cotton must he sold, whether during a depressed or favorable market. Whenever the Bank of England refu ses to discount the cotton receiver's bill upon his broker, endorsed liy his banker, his banker cannot gbeldmany further means; because, prrad* cul ture, the Bank of England has set her face against transactions in cotton. Then the cotton must be sold at any sacrifice to the spinners, who are well advised ofthc amount of our staple thus ready for sacrifice, and the period when it must he forced upon the market. It moreover may happen that tile hills which the parlies shipping the cotton have received may he good, or good for nothing; and what docs the planter and shipper trust to, when he agrees to take these hills in re turn for the produce of his industry] He trusts, first, to the authority of tho agent to make the stipulated advance, and to draw the necessary bills on his principal. He trusts in the next place, to llie inclination of the parties abroad— First, to accept the hills; and, secondly, to pay thorn at maturity. But lie trusts finally, lo the skill and judgment of the foreign house, in the realization of the proper; y, and to their ability and disposition to hold it until the mast, favorable moment for its sale. The receiver of the cotton risks nothing, hut the difference between the market value and the price ad'anee, unless the latter is both extravagant and speculative, (which one party ought not to ask, rtor the other to give) tliis risk is (rilling. We are entirely aware that it may he urged, that probably four-fifths of the produce of the globe is circulated by the means of hills of ex change. It is just as certain that protested hills, drawn against shipments of cotton, arc sent hack by thousands and hundreds of thousands of dol lars, by every packet, whenever tire market is temporarily or permanently depressed. If the price is high enough to cover them, they are ac cepted, if not, the reverse inevitably follows. We think, from this statement, it must he al togeiher obvious, that our great staple ia w itlioul any protection whatsoever; to say nothing of the fact, that it may sometimes he in the hands, and at the mercy of those whose interests and sym pathies are with tho buyers of the article, rather than with the shippers, or the producers, in spite of tho exemption from this imputation which is justly due to some of the English houses, who have adhered to theintcrents of their co respon dents with great firmness and fidelity amidst un exampled difficulties. Indeed it is altogether impossible to conceive a system of sale so utterly defenceless, for an im portant article, which performs such an essentia office in regulating the exchanges and influencing the currency of our country. Wc will now proceed to the second branch. 2d. Having thus demonstrated the injurious tendency of this system; tho question arises whether there exists within ourselves any reme dy? Tho avowed designs of this Convention being to devise some means to protect, in future, a ino-a important American interest, vve pars at once to its consideration. It may not ho out of (dace to advert to that ar rangement in the monetary system of the United States, which, in 1837, led lo a suspension of specie payments throughout the American re public. At that time our country owed to Great Britain a large commercial debt, arising out of the excess in value of the imports over the ex ports of tho U, States, in their trade with England. To pay this balance in specie, was impraetica- Ide. An unusually favorable season had given us a crop of unprecedented abundance in tho cotton growing Slates. To transmit this property to the country of our great creditor, as fast as possi ble, as an evidence that the citizens of the United States were neither wanting in the means nor the disposition to redeem all their obligations, the aiil of the hanking institutions of the Union was invoked; and to guard a part of the property, so transmitted, through their instrumentality, from unnecessary sacrifice in the market of consump tion, the agency of Humphries & Biddle was es tablished at Liverpool. The result of that a gency, in winding up the large crop of 1838, is conclusive proof of what may he done by con signees thoroughly devoted to American inter ests, subject to no necessity by heavy advances, to glut the market by forcing upon it large stocks in constant and disastrous succession. In this brief outline, is embraced tho whole head and front of the offence which has led to so much animated discussion, and w ide-spread de nunciation, in the public prints, of both coun tries. Whenever, however, a dispassionate and disinterested judgment shall he pronounced upon tho motives and objects of those who established this agency, that judgment will prove equally honorable to their sagacity and their patriotism; and to the gentlemen in Liverpool who conduct ed its affairs —who are entitled to the abiding con fidence of our people, for the fidelity and firm ness with which they adhered to the interests of their constituents. It might naturally have been expected that when the causes which had led to the establish men I of this agency lor the defence of our great staple had been removed, the trade would fall baek into its old channels, and that the protection for our interests would ho ample, with the means at the command of individuals engaged in it. No ono sought to prevent this. The field was open to the enterprise of all. No enibnrrusincnt was wantonly thrown in the way of any one. Nothing has been said or done hy tile so called “monopolists,” to prevent others from entering into a fair competition with (hem. But we have, unfortunately, been obliged to learn hy a severe lesson, that oilier countries, as well as our own, may, at limes, he destitute of an adequate supply of the precious metals. Wc have lo realize the painful truth, that after de voting our capital, our anxious attention and our labor to produce a good crop, and alter witness ing the partial disappointment of our hopes, from the unt.ivoiuhlc influence of the elements in our own country, the value of what wo have secured is to he essentially diminished hy the extent, or deficiency of a different crop In another country. Granting that tho calamity of a short harvest in England beingan act of Providence, by which the productive energies of her people arc render ed of less value, has to be and ought to be ulti mately shared by all other countries participating in her commerce, and that submission is conse quently no less a matter of necessity than a point of duly, it hy no means follows that one section of the world should boar the greater part of the | burthen of such loss, by the iKprcciniion of its own productions in a disproportionate degree. This we maintain has been the effect whether it was designed to I o so or not, by the course which has been pursued hy the Bank of England in regard to the cotton crop ofthc United States. That particular art'elo has been selected from all other articles, as the one which was to he sold at low rates in England, because food had to be pur chased from other countries at high rales, to sus tain her people, We are aware that this position will he vehemently 'enied. It is, nevertheless, strictly true. Let any man look over a file of English commercial newspapers for (ho past eight months and sec if he can discover, any oilier ar ticle of merchandise or trade, in which specula tion has been so energetically denounced, or re lative to which so many combinations have been dm eloped, calculated to prevent its yielding a fair remunerating price, to the producer or importer. Let him re Hew the prices current—the agree ments among spinners— Hie articles on the mo ney market—lire statistics of the crop, and con sumption—the advance of flic rates of discount by the Bank of England—ami then let him say, if there is one word in them all which deprecates a rise :n the price of sugar, coffee, saltpetre, indi go or tea, or any other production, save cotton] Let him then honestly state liisconvn lion, wheth er there has or lias not been a combined, exten sive and most influential effort to depreciate flic value of the cotton crop of flic United States’ If wo shall ho fully satisfied of the truth of these propositions, there can remain no doubt of the justice, or the propriety of our adopting such measures of self-protection as shall guard cur in terests against such influences in future. The question arises, what these measures shall he] Here wo will take occasion to adv ert to the gross misrepresentation of the motives and ob jects of those who are responsible for the call of this Convention. It has been said, that it was nothing more or less than to get up a scheme for giving a speculative excitement to prices; to es tablish a permanent monopoly in the cotton mar ket, and lo seduce, by the temptation of high pro tits, the hanks from the sphere of their legiti mate business to turn merchants; and thus to de range the whole commerce of the country. These allegations arc utterly untrue, in the first place we avow that nothing would he more injurious to that great desideratum, steadiness in the price of our staple, than any temporary and undue excitement in the market, whilst the charge of monopoly, w hen the whole c op is open to the competition of flic whole world, is equally unfounded. It will be perceived, in the sequel, that so far from desiring to force or se duce the banks into the risks of commercial ad ventures, (hat wc do not propose to them to do any thing more than perform their usual function of lending money with an augmented security.— In one word, we propose that the banks of the southern stales should commence forthwith to make advanceson cotton on the pledge, in a prac ticable foim of Ihe material itself; with the per sonal security ofthc persons taking the advance. We arc aware that one of the strongest objec tions urged to this scheme was, the medium of Post Notes, through which it was proposed that these advances should be paid. Since the call of this Convention, and the period of its assem bly, tho Banks generally, with few exceptions, have suspended specie payments throughout the middle and southern States, and which is likely, in spite of the strong efforts hy the Banks in N. York, to sustain a redemption of their notes in coin, will become universal, until the country can recover from the great anil unprecedented embarrassments into which it is thrown. It therefore becomes needless to discuss the Post Note system, and lo shew, that in small suras, and with a certain fund for their redemption, at maturity, they might he made equivalent to the best inland exchange ; ordinary note circulation. The crisis is certainly propitious to a Lot test of the efficacy of the experiment of protecting our staple through (he instrumentality of •.nr Banks, as the process of exchanging their note-; for good sterling bills is, to them, unquestionably a meas ure, not only of essential safety, but of sound policy. Wc are very far from saying, flint so signal a calamity as the interruption of pavrnents in coin by our Banks, is to be regarded vvi’ih any other feelings than those of profound regret; hut wo .apprehend that this suspension has resulted from a manifest and unavoidable necessity. The truth is, tho late resumption was premature Our country had not recovered from tlie- pros tration of 1837, and the present crisis has been precipitated upon us hy the short harvest ofthc last autumn in Great Britain, and consequent rise in the rate of interest hy flic Bank of Eng land which rendered American securities utleily unavailable—depreciated the value of the cotton crop of last year—and entailed upon our ship pers the necessity of meeting enormous rcclama lions. The enquiry therefore arises, whether we can not use our great staple, as the means of resusi lating cur banks, of enabling them to replenish their i aults with the precious metals, and there by fortify themselves for resumption, whilst they shall subserve the important purpose of protect ing the great cor on growing interest of the coun try. We think we can. We have not at the South the mines of Mexi co or Peru, Gut wo have growing on the surface of our fertile plains a staple of equal value, at infinitely a less cost of production, and without any expensive process of complicated alchemy of easy convertibility into the precious metals.— j Shall vve in the process of this exchange allow 1 others to reap the hem tits of this conversion; at a moment too, when our luniks requite in reflux ot bullion into their coffers, or its equivalent in foreign exchange, in order that, at no distant day, they may redeem their faith with the public?— It the. hanks in the Southern Stales, advanced on the whole cotton crop of our country, it, in quite obvious that they would, through the foreign ex changes, have what would lie equivalent to a supply annually, ol eighty millions of the pre cious metals. The exchanges of the Union would in this event, he centralized at the South, and something done towards the accomplish ment of that great desideratum of Southern hope and aspiration—a direct trade. And wo have no hesitation in saying that wo he.iove it the hanks of the south come forward promptly and generally and make advances, at sate rates, to responsible parties, on our crop that the most stupendously beneficial change will be effected in the currency trade, and exchanges of our section ol the Union that haso' cr been con summated. If at this moment when they waul the support of our great staple most, (hey‘should embrace the propitious conjuncture, whenever a resumption of specie payments should he com menced, by general accord, they would not only be in a state for vigorous resumption ; hut be iii n condition of impregnable strength, under the system of exchanging, in a greater or less degree eighty millions of their currency for eighty mil lions of foreign or domestic exchange. For with the former it is altogether obvious—they, could have the means of drawing any amount of bul i lion they pleased from Europe, after selling a suflk'ionl sum to meet the inland exchanges of the country. \\ ith these manifest and multiplied blessings before us, we invite the cordial concurrence of the southern hanks, planters and cotton merchants, in the measures we are about to submit. We are aware, however, we should not perform our duty,or very inadequately meet public expecta tion, it wc did not point out. practically, the mode by which these desirable objects are to ho accomplished. b nst, it is proposed at all the principal ship ping ports of (lie cotton states, that parlies, wheth er planters, cotton merchants or factors, should apply to the hanks for such an advance on the cotton they hold, ns may he in conformity with the current rates and he mutually agreeable to the parlies. In every case when the bank con ceives the advance asked for is too high, it is quite competent for the institution making the advance,to require in addition, all the security incident to an ordinary discounted note. It would be altogether impracticable for this Con vention to fix the standard of what would or would not he u safe rale of advance; ns this, of course, must depend on the fluctuating questions of production and consumption—the first influ enced by the vicissitudes of the seasons in our own country; and the last, by die stale of trade abroad. This must, of course, he left to the sound discretion of the hanks themselves. Isy requiring th s security at home, the spirit ol reck less speculation would lie repressed; and the disastrous .embarrassments of uneovered recla mations, to a vast amount, averted. The party applying fur the advance must produce (ho ware house receipt and policy of insurance, duly as signed to the hank ; or hill of landing, if the cot ton is on the eve of shipment abroad. The Hank ns its equivalent, after charging the interest and allowmg (ho difference of exchange, takes the sterling bill of the shipper, at six months, and ad vances its own notes, and by mutual agreement, it is arranged to which of the houses to he here after appointed in Europe to hold these eonsign mants the cotton is to ho shipped, with an explicit understanding, that it is to be held for six months from the period of shipment, if so long he, neces sary, to secure an advantageous sale. If the ad vances are received by the hanks in the interior, then the receipts and the. hills of lading, may he transmitted to their agent hanks in the shipping ports, in order that the sterling hills may he sign ed hy the shipper, that the exchange may he ne gotiated. It will lie perceived that hy the specific resolu tions annexed to this report, the mode hy which we propose to carry out Ilfs great measure, is First. Hy the appointment of a committee in each of the great cotton markets of the southern slate i, to confer with the hunks forthwith, in or der that arrangements may he made to commence advancing on cotton on the terms proposed. Secondly. That these standing committees he authorized to confer with the banks as to the selection of the houses in Great Britain, and on the continent of Europe, who shall he, empower cd to receive and sell thoconsignmentsfrom each of our shipping ports. It may, pci haps, he de sirable to the hiinks to establish in the foreign markets, as the best schoo’s for our young mer chant;--, new American houses, to attend to the transactions of their business. Your committee in considering the report made to this Conven tion hy Gen. Hamilton, in obedience to the in structions of the New York meeting, which de volved on him the province of arranging with sundry European houses, to take the consign ments, and which has been referred to your corn initlcc, arc of opinion, that the Convention hud better make no designation of the houses; hut simply to suggest the above reference, however entirely satisfied they may be with the manner in which this gentleman performed this duty ; and of the undoubted respectability of the houses will, whom he conferred. Thirdly. That in the city of New York there should he an Agency established for each s. inli ern shipping port, to he appointed by the com mittees, and hanks, of said ports, whose duly it should he to sell such cotton as may be shipped to New \ ork ; and such exchanges us may go to that place for negotiation. Fourthly. That a Delegate from each of the committees of the several cotton markets, meet on the Ist. day of August, of each year, in the city of New York, to confer with the .New York Agencies, and to devise such measures as may more effectually promote the objects of this con vention. This is the sum and substance of the plan which wc propose for the protection of our great staple, and the resusitation ol our currency. In its details there is neither complication nor mys tery. Its object is to borrow the money on our staple at home, and not abroad, and thus to place it beyond the reach of sacrifice, whenever the Bank of England may either, from wise councils, or an unfounded panic, raise the rate of interest. We d sclaim the stupid charge of hostility to the manufacturing interests of England, for the mani fest reason, they constitute our best customer. We must, moreover, he allowed to enter our protest against the unfounded allegation, that we desire to fix, hy an absolute edict, the price of cotton. »Ve aim at no object so absurd and un attainable. Wc know that the great law of sup ply and demand must, after all, regulate price.— But it is a legitimate object of trade, hy wise pro visions, to guard against gluts in the market, and unfounded panics, often the result of unworthy and profligate combinations. We have repeated ly seen the most false and urihlushirg statements i of the probable amount of the cotton crop of the j U. States, for the purpose of depressing its val ue. La-1 year it was asserted that the production would ho 2,000,000 hales, in the face of a pro duct ol 1,,150,000; and, iu the face of a drought ol unexampled intensity this season, it is ufiinn ed with equal truth, that that of the present year would reach 2,300 000 bags, which, in no event, can exceed an average one. No article of agri cullurc and commerce in the whole civilized world, is exposed to such accumulation of dan gers, as our great staple. Even that pestilent drug of oriental luxury, the expulsion of which has loccntly convulsed a mighty Empire to its centre, seems less an object of hostile combina tion among those at least who purchase it, uhho’ it dispenses madness and death, than a staple which gives to man his most healthful raiment; and which rivals the fleece of the lamb in its softness, and the miraculous results of the indus try ot the silk worm iu the fineness and beauty of its fibre. Wc desire no monopoly. If the agents cl foreign houses are willing to give a higher rate of advance than the Banks, let them take with the cotton, (ho risk of such adventures. All that wo wish is, to place a portion at least of the cotton crop beyond the reach of coercive sales, under the death of n GO day hill; that has run to maturity. We wish, moreover, to place at least a portion of (he crop, beyond the blighting influ ence ol those theories of finance, which although they may have emanate I from the highly respect able parlor of the Hank of England, are not to he found in the philosophy of Smith or Ricardo, which have stiuek, in the’last summer, a blight ing influence, not only on the American trade, iuU have prostrated one ol (lie greatest branches of the gigantic industry of the British Empire ; under the vain and absurd hope of stopping du ring an obviously unfavorable state of trade and a deficient harvest, that stream of gold which was as certain to flow out of England, as the fa ther of our western waters is to roll his current to the ocean. These wise men, in their genera tion, have indeed done their worst—they have prostrated American interests, and all the intor estsin their own country connected with our own, hut the fatal lido still flows on. And if our Bunks desire that a portion of this ctroam shall be lavished on our shores, let them turn to mir great staple, which, under a judicious course trade, will command the precious metals from every quarter of the globe. To our ussociiites in an important branch of our industry, the cotton planters of the country, , we would address a voice of sympathy and warn ing—we would tell them that the mode hy which the product of their capital and skill is disposed of in the great market of its consumption, is enough to break down the most valuable staple, next to the staff of life, which God has given* to 1 man. They must not rest satisfied with the uncertain calculations of the product of n crop, liable to be cut short almost to the lust moment of its gath ering, hy the vicissitudes of the season. Wheth er it he a largo or a small one, a judicious system for offering it for sale iu live great foicign markets of its consumption, is equally the pari of policy and wisdom. The fact is not to he concealed, in spile of the depressed slate of trade in England, if the American houses in Liverpool had hold this year, the stock of cotton which was consign ed to Humphries and Biddle alone, during the last; from ten to fifteen millions of dollars recla mations would have been suppressed; and some just relation preserved between even a diminish ed consumption and a crop of unexampled short ness. The production of our staple treads so closely on the measure of consumption, that of all the articles of commerce, it requires the utmost care in its sale ; yet perhaps it receives the least. We ought to reflect, what would be the extent of the calamity which would befall our country, if it were to break down to a point which would not cover the cost of production. For to the uplands of the South, it is our only remunerating pro duct. An efficient scheme of protection, for a few years, will make all safe. The use of cot ton, as a fabric of human raiment, is just penetra ting the Russian Empire; and before many years we shall have in the boundless regions of the north of Europe, a class of consumers more nu merous than those of the Kingdom of Great Britain, With these reflections on the past, and antici pations of the future, we submit, with this Re port, the following Resolutions for the adoption of the Convention. Resolved, That the gentlemen who issued the Circular, dated 6lh July, in New York, which has caused the meeting of this Convention ; are entitled to the thanks of every citizen, who is in terested in the cultivation, or export, of the great staple of the South. Resolved, That this Convention entirely eon curs in the opinion exprosed in said circular, that owing to the circumstances under which the cotton crop is usually sent to market, the price of the article, is not left to ho regulated, liy the fair mid natural influences of the, law of supply and demand. Resolved, As the opinion of this Convention, that a remedy for the evil, us effective of its ob ject, us it is simple in its character, will he found in tin: recommendation of the circular, “that the cotton of ourcountry, shall not he sent to market, accompanied hy a hill of exchange, which must coerce its sale,at a fixed date, whatever may be the state of the market, Resolved, That the cotton planters and Ameri can shippers, in the southern ports, he earnestly requested to concur in the measures recommend ed hy this Convention, hy whirl) they may he certain of having their cotton hold, and not for ced on the market at a ruinous sacrifice. Resolved. That the Hanks in the southern States he invited to concur in a general system of advancing on (he crop, as the only certain means of replenishing their stock of specie, and of placing 'heir circulation on a sound basis. Resolved, That the committees at Mobile and New Orleans he requested to call a meeting of tire Directors of the banks, planters, factors, and American cotton shippers, in their respective ci ties, at mi early day in November next, that the proceedings of this Convention may he laid be fore them. Resolved, That the following gentlemen do constitute the standing committees: For New Orleans —l,. Millendon, John Min ium, 8. Peters, N, McGcehco, D. McGoffin, and John Hagan, Esqrs. For Mobile —H. IJ. Gwathrney, Win. 11. Robertson, C. C. Ganglion, John R. Blocker, Geo. 8. Gaines, 'i'll. E. Tart, Thos. J. Butler, H. H. Faintnine, John Mayrant, J. 8. Deas, Franklin C. Heard, Esqis. For Savannah —G. It. Lamar, Ed. Padelford, Jos. 11. Burroughs, Win. Patterson, U. E. Stiles, Chas. Ilartridge, Esqrs. For Charleston, 8, C, —John Robinson, Robt. Marlin, Hoht. Collins, John Kirkpatrick, Henry Gourdine. James Hamilton, Esqrs. For Columbia, 8. C. —Wade W. Hampton, Wallace, R. Sonley, J. Adams, R. Goodwin, Esqrs. For Hamburg. S. C.— Henry Shultz, Ed ward Delius, Charles Lamar, Marshal R. Smith, H. W. Soloman, E sqra. f' u s Augusta, Gn. —Alfred Gumming, Paul r iiz.simmons. Geo. W. Lamar, Peter Bennoch, John P, King, Esqs, For Millcdgrvil/e, Ga.— Dr. T. Fort, J. W. A. Sand ford, I, L. Harriss, Esqrs, For Macon, Ga —Dr. A. Clopton, J. Cowles, Chas. Collins, J. Goddard, M.N. Burch, Chas. Colton, J. G. Moore, Ed. Hamilton, Win, B. Johnson, Esqrs. For Columbus , Ga. —John Fountain, John H. Howard, Dr. Thos. Hoxey, Wm. 11. Harper, 11. 8. Smith, Esqrs. For Mnntgomeri/, Ala. —.louse Taylor, John Martin, John Scott, Thos. S. Mays, B. Bibb, Esqrs. For Tuscalooao, Ala. —John Marrnst, A. Bat tle, Edmund Prince, Hirdin Perkins, Robert Jameson, Esqrs. For Columbus, M,ss. —Judge Andrew Bibb, George H. Young, Judge J. Moore, Thomas Mc- Gee, Major Bluit. For Natchez, Miss. —N. Ware. Gen. Quit man, Jno. Ruth, Judge Thatcher, Mr. Dalgrcen. Far Vicksburg, Miss. —Judge Lamar, Mr. McNeil, Di. B. Harris. For Tallahassee, Fl. —Jesse Coo, Edward Bradford, .1.11. T. I irrimcr, A. M. Gatlin, Sam uel Reed. For St. Josephs, FI. —T. B. Howard, E. J. Hardin, Park Street, G. W. Smith, Mr. Doffin. For Apalachicola, FI. —W. G. Porter, E. Wood, II iram Nourse, D. Goldstein, W, O. Ra ney. Resolved, That tho foregoing committees lie specially requested to carry into effect the duties confided to them in tho above Report, and that they communicate to the Centrd Committee, at Mobile, what they have done in the premises, (hat the same may ho announced in tho public journals of the respective Slates - . Resolved, That the said committees he request ed to supply all vacancies which may occur in> their respective bodies. Resolved, That the Banks and several coun ties and districts in the cotton States, be request ed to send Delegates lo tho “Commercial Con vention,” to meet in Macon, Georgia, in May next, to unite with that body for the purpose of taking into consideration the currency of the country and the interests of the Cotton trade, by which the direct trade with Europe is to essen tially ho promoted. The Pi:nvKRSKNBsg ok Women. —There is an old story of a man who had married a young lady, and who had a friend somewhat sceptical a» to tho obedient tendency of tho wife’s disposition,, much to the dissatisfaction of the Benedick who' strongly asserted and warmly asseverated that his will was law, and that she never by any chance disobeyed any wish or injunction of his. “H avo you ever tried her temper in that res spect?” said tho friend: “have you ever desired her positively not lo do any particular thing? for that is rny point, since you tell mo she never re fuses to do whatever you desire her to do.” “No!” said tho affectionate husband, “I neve* have found occasion to desire her not to do any thing, hut—" “That’s it! as the old women say,” cried the friend, “female obedience is proved by negatives; tell her nut to do any particular thing, give no particular reason why, and see if she does not do it.” “Ridiculous!” said flic husband. “Try!” said tho friend. “Well,” replied the husband, “agreed! wc are both going away for the day; what proof shall I put her to? what shall I tell her not to do] moy she not play on her harp] must she not sing, or draw! or, in fact tell me whnt you want no to prohibit her doing, and 1 stake my life she doer it not.” “Oh, no!” said the friend, “drawing and sing ing. and playing the harp, arc things which she might abstain from without a murmur, or, what is more essential to the affair, a wonder; because site has sung, and played, and drawn a thousand times; it is an injunction not to do something she has never done before —for instance, tell her when we go, not to climb some particular hill, for particular reasons which you do not choose to give her; or, hy way of carrying the principle out to its fullest extent, warn her not lo attempt to ride on the dog’s back.” “Neptune’s hack!” said flic husband. “Yes,” replied the friend, “on the buck of the most valuable Newfoundland dog, the bravest ami fuithfullest of his breed.” “Ride on a clog’s back!” exclaimed Benedick, “how can you be so absurd?—as if—” ‘ Ah! there it is,” said the friend, “as if—now, take my word for it, if you issue the injunction without giving her any reason, Harriet will break it.” The most incredulous Jof men rejoiced at the idea, which he felicitously ridiculed, and resolved upon trying the experirneir in order to establish his Harriet’s superiority of mind, and his friend’s exceeding silliness. He parted from his Harriet, and with tender fondness she clung round his shoulder, us he said in quitting her:— “Harriet, dearest, we have seldom been separa ted since our marriage—l shall be back soon— take care of yourseif, love— hut just attend to one tiling 1 am going to say, dear; don’t try to ride upon Neptune’s hack while we arc away.”' “ What!” said tho laughing Harr et,“ride upon- Neptune—ha, ha, ha! what an odd idea—is that all you warn me against!—why, what a ridicu lous notion! why should you tell me that? What, nonsense!” “That, my dear,” said the husband, “is a se cret; all I beg of your is, not to ride upon Nep tune.” “Ride upon Neptune,” repeated the lady, and she laughed again, and they parted. When Benedick and his friend returned to din ner the laughing Harriet did not as usual pre sent herself to receive them; there was a sort of gloom pervading the house; the footman who opened the door looked dull; tho butler who came into the ball looked us white as his waist coat; the lady’s own maid rushed down, stairs,, evidently to prevent a scene. “Where is your mistress?” said Benedick. “Up stairs, sir,” said the maid, “there is noth ing the matter, sir—nothing in the world, sir— only my mistress lias had a (all—quite a little fall on tile w alk in the flower garden—and has cut her face the least bit in the world, sir; all will be. well to-morrow. “A fall!” said Benedick. “Humph!” said the friend’. And up stairs ran the anxious husband. “What has happened!” exclaimed he, catching her to his heart, and seeing her beautiful counte nance a little marred—“how did this happen?” Harriet cried and hid her face. The explanation never come altogether clearly before the friend of the family; but the accident was generally thought to have arisen from Har riet’s having endeavored to take a ride on Nep tune's hack.