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& &W»Kt •ire it to be distinctly uudentot'd tbit tank lie no wlwutibe hf eff.-n on ‘ thlfi of the INTELLIQRNtiBR 4- EXAMINEE DAtffV, - - - . . . (ton NS KKKl.Y, ...... I Off DEMOCRATIC TICKET. for flayer, LUTHER J. GLENN. for Mermen, • <jMRic: nruut»>, AI,SXAin>*R-jai WAl.LACK- f JARKD I. XVIIITAKK1A, _ , f JARKD I. AVHITAKKR, tit. Hard. j OEORKO S . AtSIASDll*. ».-> Horst HAYDE* rOK IBATD1 fjruri A. IUTDE1, FOR SHERIFF. Mt n« .For Deputy Sheriffs. C. 0. GREEN* & OSBORN, For Clerk of Superior Court. DR. B. F. BOMAR. For Clerk ol Inferior Court. DANIEL PITTMAN. .fo 7Vwm.tr.-C. H. WALLACE. /•■»■ .Sntmr.—J. C. FARRAR. to Tot Sibrfor.—W. F. WINFIELD. i r Tax Receiver.—A. J. COLLIER. jOrmr—A. R. WHITK For Latest News SEE THIRD PAGE. Democracy,, to aehteve * rnewfd victory. Every Democrat Should remctn That th» powvr of the county of FulfttoL, of the city of Atlanta bAi breo and teitow is the haodi of the opposition, usd has.(sen wielded with tremendous effect heretofore agsinei ,&*.. All three vrho’witDtsaed the last few elections, remember the operations of tbaeoeuy, end remembering them will ; sec to it that hereelter no tucly means shall, I be in their power hereafter. Had the 08L ces of the count* and city, not been in the bands of the Know Nothing party their principles wooM bare long since been as defunct in lVton as they am in Cobb, Cher, okea and Carroll- The last agonies of that prodigious organisation, which spread its secret machinery all orer the United States, has been nat rowed down to a struggle to bold a few local offices, in a county here or there, in one or two States. In those ago nies in tke county of Fulton it will ex pire on Monday next. The triumph which will be then achieved will be greeted as was oar triumph in October last, by the respon- sire shoots of gratification all over the eoun- try. The names at the head of our rclumns will be recognised by the old Democracy cl the county as among our best and most cap- able citisens. Without detracting from the characters of these who are oppj-osed to them, wo may safely a‘»rt, that a-beUer set of officers can Barer he elected by the suffrage* of oor people than those to whom we hare referred- With soefc men as Lore, tor Sheriff—dis* I tioguished ts he is for his courteous, clever and afikble deportment to everybody—Bo. We call attentwD to the advert:**- | mar for Clerk of the Superior Court, well mea^of the Concert which is to be given no ' qualified as hew known to be by the people of Thursday night next for the benefit of St Philip* Church. The object is one so entire ly worthy that it needs only to be known to be duly patronized. Nominating 1 Meeting- The meeting held CO Monday night last under a call is the 'American’ brought forth Fulton for his prompt and efSeieit discharge of all the treats ecnfidedjto him—with onr en ergetic friend Pittman as Clerk of the lute- rior Court, and the ether gentlemen in their various places, we believe the Democratic Ticket most he particularly acceptable to the voters of this county and will rally them to the polls with enthusiasm and energy.— after severe labor the Ticket for Mayor and That this shall be done in an obligation we Aldermen which *e publish below. For Mayor Joseph wixsan*. For Aldermen, First Ward—H. W. JucDaNIEL, WEST HARRIS. Second Ward-Ji M. CALHOUN, J. B. CREW. Third Ward—T- L. THOMAS, W. P HARDEN. Fourth Wtrd-S. T. BIDDERS J. B. PECK. Fifth Ward—THOS KILE, G. G. HULL I: wifi be as eesy a ticket to beat by owe to thoee time-honored principles of re publican government, we are proud to advo cate, as well as to the men who ere candi dates and who hare given to thou* principles in times past so many pledges of their toy- thy and fidelity. let as stand by our friends on Mocday next. EXECUTIVE DEPARTMENT. MnxxDoirju.1 Gj... ) Dec. 224. 1857. \ Ta Ihe Smite. I retarn the bill entitled -“Ah act to pro vide against the forfeitnre of the several oa.-,k charters in this SLte, on account of • c09 * them some sacrifice, and rather than lions; and while tie Is making 25. 30 or 35 per cent, upon the three paper dollars, based upon the one stiver .dollar, supposid by the people to tje in the vaults of the bank all (be time for the redemption of thri bills, be .has probably made ten or 15 per cent upon the silver dollar feben out of the vault*, and used In -peculation; making the whole prof-' It*, which, Without a viohsiiuu of the letter of his charter, the banker mny have reoetr- e>l lor the use of his dollar out yrar from 30 to $0 per cent, while the laboring man. withoat banking privileges, is .permitted by law t< > receive *oly 7 per cent, for the ur* ot hie dollar for a similar length of time. Is this justice 1 bit tight t 1 deny that it i» tight to gire to a bank, or to any other cor poration, such unreasonable and almost un limited privileges. It may be said that th* banks do not issue three for one. and that they do not all make the profits above de- ecribed. This may be true. I speak of their privileges, and wh»>, under tbetr chars ters, they may do, end what, it is believed, is often Rppnuiuitftl If mcwJw *n practice. «*who will read their charters aud observe their practical operations, will. I doubt not, admit that the above is no ex- sggeraied sulemenl of the workings of that legalised system of speculation, oppression aud wrong, dignified by our law with the name of backing: The question arises here, what oonxid-rj- lion bare the banks given, or promised to gire the people, for these valuable, exclusive privileges T The answer is they hays pledg ed themselves lo furnish-a paper currency, at all times sound and ’oonvettable into spe cie on 'demand, without regard to the price the specie may cost then when needed, or the sacrifice which they may have to task, to procure it. The privilege of loaning their own rotes as money st par. and of re ceiving interest—compound interest—and even usury, under the Dame of exchange, upon them, often enable* them in times of prosperity to amass large fortunes : and in consideration of these advantages, is it not their imperative duty, in time* of advenity, to abide by their part of the contract, ai d to procure specie to redeem their bills at par and thereby afford relief to the people, no matter what it may cost them t After bar. ing enjoyed these advantages, ii it right that they be permitted, when the pressure come’, to suspend, close their doors, retire into their splendid mansions, lock up 'heir •peeie in their vault*. let their own bills de preciate. buy them up through their brok ers at a heavy discount, causing distress and actual suffering to many a poor debtor's family? and when the storm is past, step forth in the sunshine ol their own prosperi ty, with enlarged wealth, while they coolly survey the rain which, by their speculation* and their bad faith, they have scattered all around. I deny that this is right Specie is mw worth a small premium the Northern market. By paying this, our banks can purchase enough with which to redeem all their bills, ana can resume specie payment immediately. This would restore public confidence, stop the dealine in the price of cotton, which has already fallen from 17 cenu down tt ten or 11 cents per pound, since the banks have suspended, and which wilt continue to fall, unless they re sume. and would also restore contentment, prosperity aid happiness among onr people. The banka refuse to do this, because it would friends os any that could haT teen ncmina* j non specie jwymont, for a given time, and , m4li e this, they prefer to let their bills de led We shall reserve tiil a fature farther j f> r other purposes therein named," without : predate in the market. This causes our earnests cn it. tier words, their notes as money, and to ■ •Ttsi tr.t'h to, and every tnan who at all charge .nirtwi upon them The laboring respects the rights ofbtmidTders, and would “*“• *b»t*ver be bis occupation, is dev maintain them | my sanction. J people, who live remote from banks and ci- | Our hocking institutions have eicius ve ties, and who are occasionally forced, to oi>- TV» amnuiM »- -- - . v . prvfiegu conferred upon them by law. I toin specie, to pay ns high as t :n per cent. u JT. Jr*? “ l h * which1-e very vahrab’erind which".. la- ! discount upon the bank bills to gei the coin, nut tor Ins t-eUef of the Banal of thij boring masses are prohibited, under a heavy ’ but if the bank* ate forced to resume, thi. State. penalty, from exercising, upon the earn* sacrifice ou the part of the people will not W. lay this important mes j--« before terms upon w. ich the banks exercise them. I be longer necessary. Why do the banks ... - j a ' To 1 The tanks ace pe’mittrd by law, without refuse to resume I The answer is, simply ,, ' - T ' ‘ hem M P*™? ! b.xid or Mcurity, to loan their credit, orjn because it is to their interest ta keep up the r-verv true hearted deni- tn«r words, their notes as mooev. and to panic, drive down the price of cotton and every kind ol property lo tho lowest price, then grasp it into their own hands, end „e^L~. niod this privilege,'and i* subject to indiot- ‘hoe grow richer upon ih> mi.-f irtunes oi - . P",,” r , 1 . meat and puciihment a* a " crmiioal if he ether*, [".-icced by theui lor the purpose of Uanz a.-,»!:cracy ct tvecrgtx, w:l. read and atrenprs lo exercise it. Ho can receive in-1 specu »'i >n weigh-very word of it, <ri:hoat being ].-crest only upon the capital which ia (he f latfirmihulourBunkswirehiiare-us- • rre-i to do so bv os. The message speakv '• income of bis labor: and opoa tbis'be iv I pemled and so coulinua.ste guilty of ahigb for'iue f. Since that memorable one of the ' to charge only legal interest, or 7 J c-wmerciai. ..oral arid 'cgu. crime, of a _ ,, . 1 t«r ocd; p^r a :r.ura. lfae tab*>r!OjF n:a»« ' commercui cr nie, becaott; iney have osiL- ,-ed Treup to the Georgia L-gislatare, ■ produci; tr e cap.tai. Irnieei, all capita! is brought the pre-ent crisis upon the people, r. wu:ch he prcclaiced the word*, “the the result of ,ab.r: sou to*" system of leg- for s .fish purp'*-*, when Ih re w» no argument is exhausted, let us stand by oar i-lAtk.n which fc tablaoea a favored ceas., great ueees-i.y, snd when by spending q and con'ers upon them privil-yps dca-e-i to - icw thousand do.lars ot • h■ ir immense prof- r* fl j other 1 , by which they are ena'drd ;o enrich , in the purchase ofspre'e, the ■ uipens. n | _ ease, as I thrmeelvee by taking from the labor ng con'd easily hav r been avoided. By refu- • i mattes the inccme < t thei- labor, is not ou- 4 ing to 'I - this, they have destroyed public 1 ly ur.ro-bat" contrary to the genius and pCOnfidevi r » derangetl i-ommcrce, caused i cr spirit ol eur government. ' ! great vtap'e to fall several ecu's in the I think it will not ba denied by a. y that P- und.bv which oar planters have retained ear present system gi.e* t-. a tavured cl j, -Is of -eera‘ mi 1 ns ot do'i >rs, and the maense advantages over the area', tody oi value of property liirotrohout the State ha • i the people A-on nl-.etrat..,a of ^luy prig.. .{Teaily depreciated. 'I lie credit f the , , , , ., C pl«. two men work with HjelrJlJind*, the i State abroad has been injured, while gene- jbe iiuiiiuiest cuiu, • primary mode of making Sap tal. till vach ral div.rust and depression has bien the 1 " a . ve thareeponstjility ol its ok-ration 1 | makes a dollar ir. go.d or <: ver. t ine loans ; result. They lave been guilty of a moral The law of our ritate per- , crime, by vi.hti-g th<ir ceutraet with f arms,’* no message has can.Ad a: the Cap itoi ,f car State, eic.io acnt ;i i :his Veto Message c: Governor Brown L *r l clap of thunder, it burst up'h the L- g., aturr.notsltcgeth.i with.ut war. ir.g, hot nevertheieos, without that a 1 - ..'tr.ee wr.i-h saftsfied’tbem that it w;l1>! con.,., r moat of the mamters of both hou=ca. i.vugbt that like other men, »he Governor . ‘ be f.euoail'-d from hi- purposj to act • r t t-.e cosvtetm* of bis conscience, j ttt at interest . .; save the people irem tne banks. It - trrte to thus stsnl by the people » r jutett in which 'h; odd* were so fetr, t -...' ija ns-. the Executive Bo: he shrunk a-,', tr to hn duty, and over-r-i ed as he has '-er j a enstitatiora! majority, there, sp nsmihty is-,bw Le-risiaiun's, and not obliged to liavo ’Indulged in Ihoi* wild speculations which caitkcd them to >x P» n “ their paper tircuintion beyond their ability to reueeui Ibcir pv.ituiacs, end id this way to here produced the stats or things which obliged tk<m to suspend whenever payment was demended. ’the Merchant by.acaarse of high living and ovaMnuiinr, tnvoives himself In debt beyoud Ms abmiy to pay, and closes doors, or in hank phrase tuts pends. He receive* but little public sym pathy. All agree in eoodemmug htseourre of extravagance and folly. He it blamed not so much for closing doors, as for the course of extravagance which involved him in the ueers-ity of closing doors. Our banks in this cose ware under no surh ne cessity. 1 hey suspended us a speculation. In 18-10 while the people wrie paying through one of these period* of distress, above alluded to, they determined to pro tect themselves if possible against such a state tf things in future. And through their representatives they passed a law te- quirieg the banks which had suspended to resume specie payment within le-vi than two mouths after the passage of the Act.— And requiring all the "banks of this State in future to mloeiu all their liabilities in specie on demand or presentation; while forfeiture of the charter was provided as the penalty for the violation of the law. Tho people relying, upon the plain statute es well as the common law which takes away the chatter of a corporation which abuses the trust and palpably violates the contract upon which the charter wns obtained, sup posed they were secure against future batik suspensions. On icceuitt of their corporate privileges, it wa* belisved that motives o£ t merest would prompt the banks to make out of their large gains a sacrifice, if need be, sufficient 'o enable them to procure the specie and redeem their bills to save their charters. It was not then ha iered hat the banks nvuld hare the power to violate the law with impunity, and to dictate the terms of their own pardon. Since the pas* sage of the act of 1810 the number of banks sod the amount of banking capttul in the State have greatly increased, their power in the State sad their iufiuence over the le gislation of die country have increased.— Who hus not observed within the last few yvurs the increasing inttuence ('four wealthy corporation* ore; our legislature! When their interest is at stak -, outside pressure becomes very strong upon the law-making power am! is too sensibly felt. With this state of things exfoliug in G orgia tho rer cent bank suspension occurred in New \ ork. This naturally caused a pressure in Georgia, owing to our commercial con- sections with New York, and made it nec essary for onr banks to suspend, or make a considerable sacrifice to get the specie to meet the run Ilk- ly to be made upon them. The bank* at this lime claimed aud still claim to he entirely solvent, with large amounts of goll in their vaults. Soreral millions of gold hare been shipped into the country during the present suspension which could have been purchased by our banks for a few per cent premium, it is acknowledged that their profits for tho past few years have beon largo. It became a question therefore whether they w raid make ihe sacrifice necessary tu enable them to get the gold and redeem their hi Is. or— whether they would suspend, let the lore caused by me depreciation of their bills fall upon the people, and rely upon their power to set at open defiance the law fore feiting their charters, and even to compel repeal till such time as msy suit their v.nienoe. They chose the latter alter native and it i* said that many of them have suspended. In th;* state of things they appear b: ore the l,*-gnlaiure not prepared even to grant terms to the people, much less to ask any from them. Taey refuse to submit to any restrictions upon their former chartered privileges, ur to give any assur ance* that the country shall he protected against Ihe recurrence of such a state of tiling* in Jnture. They deinund an uncon- diti nal pardon in the form of an Act to legalise th, ir illegal set of suspension, till such time as it may suit their, convenience to resume. They accompany the deman I with the threat U,s' they have the power and the will to d t die people a great injury if an attempt sh u,d be made to execute the law which' they have knowingly and wil fully violat'd. 'Phis issue i* boldly ten dered, nnd the que-tb n made, shall tho govern the pe-a;le or the piople gov ern the banks ! Shall the law no executed or snail it l-e set ut op, n and uncondition al de&tnce! shall only tnc poor and the weak I C compelled to -.Ime it while the rich and the powerful are permitted to dis* regard it at plr sn-e 1 In my opinion the richest corporation should ha compelled to y the law, as promptly and implicitly as •st oT tbs Northern psopM.to enter Into a warfare about specie with .the Southern banks. Since the Northern bsnn have re sumed, tho tone bus charged, and our hooks say that tho fact tbit the Northern btnki havo nxutned. makra ll more' difficult for them to resume. They were instnoere then, or they are insincere now, V l ' f * It is further allegedThat our banka im pended In obedience to resolutions passed by public meetings held In Augusta and Savao nsh. I will not stop to inquire how many bank directors or stockholder*, or how many person* indebted to the banks and other wise, under their iofiuenceor control compos ed those meetings, or how difficult it may be. or may not be. Ter those most interested to get up meetings of this character, by pro ducing a pania and aslling the meeting In the midst of the exoitement- I might iu- quire in how many counties of this Stato outside of the immediate infiueiee of the banks such meeting* ware bold. Again, it is said tho suspension was for the benefit of the people. They did eat seem to have anticipated the danger, and have not asked Bsfort urn determined to know no man or nssocia- lion of mcnTatnl that all sh dl bow to the tnits him to receive caly seven cents?or r the ' people in refusing to meet th-ir a :temn I a,,£ * ,o ri-y °t the .xw without regard lo the was of it one year; and if be charges more,! P'™isos, when they .aek-p-wledge-ray, ««« mhacii.e which Urey may the law declares the exeats to be usuri.j* even (►.■as*, of their ability to disj thereby I r ’ - r -■ a 11 4“ high that taey shall and vsiL doing the grossest injustice to the lab ring) F«f' n ‘“?!'oplace th. ntelyos nkovo th The other applies to the Legislature, i n I ; masses wh, ta-e confided in them and b en j aw obtain* scharter. conferring upoo him hank-! deceived by them, l'aey trav- been guilty j f r "l inf Privilege*. By this char, -e-s—i *- 1 1 laiful for him to pay bi* steck into the bank, and to issue up ._ .. . p*i three paper d iitun. The Unk is pcrmittsj price ,.f onr proptry, th'price of labor, the (lid it the |»r p r c i*e i* made by > as 11 authorize ms to act 1 -hull Hit. Uo/VU LiU] k/JIJffi w • J ........ * •» ii • • » I I . r chafer, it is made I ot & ,0 ? a1 enrae, by wilfully ami krtowmoly I J* r,ler P rt ‘ '* “ W V |,; i dollar a* capital! ▼iolatmija -d nt . p^n deSauce a , n ;' 0f c urN “ re,J ■> 1,1 or,! W ixsu, up P b1:! P-'fve statute o.'the State* making the! ^ L»t "l.t people then look to stives, for a.I tae good - evil that j tu loan these three puner dollars r at Inter-' happirre-s and welfare of the pejpie and the ,w frorn the passagi of the , ■ , tv, and to charge 7 per con; upon each of i fitate al beml to thtir interest. , , j them. I? fc- »«-e to loan them for os* j I**«7 *»»erncd solely by their interest p „ : yea* at legs interest, he would receive for l »“tl >‘h tb * lf fetef*« x ’“<•«» of prosperity i r oar part we err wirii Gov. Brown cm ...... o\—. These three paper doilon j toexpuod and ex’end their circulation, jatie oar part ire srr with Gov. Brown cm ^ 0 j .- :» -tat will certainly be male on this fee .**• ,n In principle sod ia action h- .ne-i sc-rad democratic doctrima. Nay. re than this. Lo ho» eedexvored to *.» tveorgia from fiecc.mirg lonerrient to s Bat* monoply, which coetr-.li theiegUUtion indiv dual who lias dieregarded and vi da ted the law It i* claimed by their friends that our hanks are well managed, hut that the- suspension was unav ilah.c after the Northern blinks suspend*!, and that any other course would have ruined the people, are based xp.a the one dn&r m go!d« j «•>« pne« of p»-Jierty, etimelefe « spirit V r‘‘ t B. , , l hv b n V. ni m«« a Vd“*» !'*'i ,h * silver, sni me banker k. fact receile* the 1 »:seriatim,.and inr Ive’thecouniry rathe,r mo5tof tl, 8 Alabama •21 cents interest opi. h.e c, M doiuu in »pe- i deb: a- much a* pastille In time* of ad-; \ ^ , J . Kentucky hanks, all Ihe M, whi> the person w.-.bout banking priv- v-r-i:y wnen every msn not a banker i>'f, a,i ‘ , u ,' ‘ ,' jl lh j I.egei rectire* only 7 cent* interest upon “bliged to redeem ms prami-ee. no matter , *,j b j'^'" • .“J® “ u0<; k. and c: rj.n n..,£i L.-cJil ... . F . Ik m L .... nt- *u. m,.i.. I xr 1 ' still ro-keming their lulls in specie 1 — A d why are not the p-ople of Louisiina - Kentucky ruined 1 It i* a litt'e remark for the relief. Before the bunks suspended the people could puss their bills at per, since the suspension in many of the counties most remote from the banks, they are having to P»J len J >, ’ r uent to get specie for their bank bills. This is u relief that the •' people of the agricultural portion of the State have not asked for by public meetings or other wise. They did not ask to bs relieved of one tenth of the whole valne of their property, nnd they will bo a little bard to convince that they are benefitted by the operation.— The farmer sold bis prodnoe for one huDs dred dollars in bank bills, which before the banks suspended wore worth to him one hundred dollar* In gold. Since tho banks have suspended tho bills arc only worth ninoty dollars in gold. He has lost ten dollars hy tho suspension. That argument to couvinee 1 itn that it is for his benefit may be ublo and ingenious, displaying much leurnine and eluqitenoe, to wbioh no will probably reply : Before the banks suspend ed I bad one hundred dollars, 1 have spent none and since the banks bars suspended I baveanl. ninety dollars: I understand the figtres but do not see the beuefit. It is again claimed that the suspension was necessary to enabl* the banks tu furnish their bills tu the cottOD buyer to parch* e the prese.it crop; that the crop could nut otherwise be sold, and that it would not be possible to get it to market if the bmks were compelled lo resume specie payment. This argument will not beut examination. Cotton in Liverpool is .worth 15 to 17 cents per pound in gold t is therefore worth in Georgia just as much; in gold after deducting the cost of trans portation and insurance to Liverpool. The manufactures n • d the cotton They have ihe gold to give for it- Wo have the cotb n and want the gold. There ure ships plenty and thsir own' ers want the freight. If there were not i bank in Georgia our cotton would still find its way to ma-kei. And if we would not take tie; reoiated bills of suspended banks f >r it, w.- should soon gut gold for it. It is truo this would cause some delay, and would be to some extent injurious, b it not injuri- rious to thu planters who are generally hut little in debt, and who ore not forced to sell as it would be to those speculators, bank rs, and brokers, who hove BO long lived end grown rich upon the labors of tho planters, who when they- say that a certain measure will ruin the country, usually mean that it will injure them. The very delay which speculators say would ruin the country might lay the foundation for direct trade with Europe, cutting us loose commercially [rotn a s-ate of dependence upon the North, which would be worth to the South half dorse cotton crops. But it is not true that tho bankj would refuse to furnish their hills to buy cotton with if forced to resume specie payment immediately; they would in this (as they al rays are tu all other casoe) be governed by their own interest. And their tutereat is to furnish their bills to buy the cotton if tho planters will tako their bills for it- They famish their bills to tho cotton buyer at legal interest and probably one or two per o-'nt a month exchange (usury) sta king lu ur 20 per cent interest. The cotton buy.r, the friend and probably the agent of the banks, deducts this out of the price of the c i.ton and the planter loses it. Tbo buyer ships the cotton and turns over tbe bill of lading to the bank of which bo got the hills. Tbo bunk controls tbe cotton, orders it sold and in thirty or sixty days has tbe gold, or sterling exchange as good as gold in its vaults in place of ths bills- In this way tbe bank not only makes a large per cent upon its bills, but replenishes its vaults with specie in tboir place. And if tbe bank is redeeming its bills in specie so as to deserve public confidence tbo bills may not be returned for months by the planter to demand tbo specie. But the bank makes suffi-.ent profit by tho tran-a tion to justify it in puung the necessary premium lo get the g id, to redeem thqm immediately, if required. There is, therefore, no foundation in lact, for the alarm that th* planter could not sell bis coition, should the banks be forced to red-em their bills in specie, or ia other word* be forced like individuals to aot in good faith and pay according to their promise. But it may b« said that this may cause a decline in the price of cotton.— Without admitting the foot is a sufficient bis (lolixr. But the banker is not custetii! Sowinnch ‘oordiee it may c.«t him.the bank* wi-h 2! per cent a year, or three time* tbe | re fore ' nice-, their obligations oeeaux tease reprstoBtatitesi In tbe treat.:me, : s jsy or two, we stab be silent, in order ■ »• :Le veto may be read a:»J its priccipUa i - '.-we-J_aczl understood by our readers.— Iuietd ta .« crowded ouditioo of oor to tie: boai-r must be ps d promptly, or re ! :.avc suspended, a* a general ruie, only to cotton boyers cr *peoi!a rs, sad denied to the memos-:, ft/raer ,.r mecoao sl owed I nfl “- ‘hey will ioerei by -ppointing an ag In the n.e> -,ir,- it their Soecu.'at ' lie c*o"',t get acootnrr.aiation, it mutters not' *5<rr cred tor preaoi.t- ta. ir de ,recist.d i bow good a note be ssa make. This debt 1 bids at the counter and demands tpmsf. teat ei'-adad a.Gue of it, width st the pre*._: - -: * - .-. d'etoadi from errs ip-ato- crstic press, or at tn-aca mu cratk principles and policy -•.mpeiled lo islet. uewed at ti.c e'd of tne 30 day*. If per- tritted to h- renewed, the interest must be i the p , it-in diaenun ad and compounded, snd tbe ! high usury under the nime of exchange, added. Hating that i.e nas labored (■ r the bills and has r-eeiv-i them at par at money. That nised prapertr wh»n p "p-r-.y wae ing to -.ne bank expansions, at d in thi* way 1 .ro ved himself in debt That eplv that the planter can afford to take imallc Oor County El echos Tne people of Falter: C jon-.y, fc«ve r.-,w r»-fo.-e them, tbe candidates of tit rt-pee- tiu parttee. for tbt varioo* offles* i- treir gift at the approaching election on tbe firs ii rosy in Jsnsary. W# presume -tre what d«n - If inlaigebce i* giver, for s year, tbe note or • owing now to bank contractions prop -.i 1 in i.t renewed the interest compoutzi-; f ' r 7 hut fadsn till it takes twie-t as tuucu ei ard ’.he usury added, twelve times during ! the je.r, '* every 30 days. I speak of tbe usual numher of dxys allowed to bank. U may ia: t.u' CO -rays, while it is sometime* 30 1 bit increases tbe m'erest received on th* bar,ker s ’hree paper dolian, or one eti- srr doliar, to 25, 35 [er cent dependent on ths amount if exchange or usury added each , , , . . , 7 I time the note or bill i* renewed. Bat the c*n ie- no d ,abt on the tnind of soy inteb^ tinker is .tiil no: satisfied with this c t. ■ xet, a« to irtiu will be t ooted, ilj upon bit dollar. Tbe i*w of this charter. Is.eraily regarded a* an udebiahl* M h * r - i charters exist in Georgia, author- «"« fi> pay his debts, a* it did a few months ag . That h s property is about to he s ten heed and mat he cannot pay in bank bids vri: ti- out a sacrifice of live, ten or twen'y per esn' din u-.t up ,ii them. Th* Banker re fuses to redeem IIin ndl*, and turning uwsy calmly replies, b e nape suspended Tb cooee*(ueoce is tfie hiilhold r he* lo make th* sacrifice which the banker had pr ra ised tr, makt, ann ought to mak*, but will not mak*. and pay lire, ten ur twenty pc on the bids of thabank to get y of the ir numerous igcne'ei. While they who eg to monopolize the hu.-imss in Gc )f£l.i i • -i it perfext liberty 'o make war upon th* i ft it(f or country iianki. Th*:f l» ,( cl rase j.. the Constitution of LrrminnTi denying tne Legratararatrin paw- er. thr ci.'j o: indirectly, to pass uuy Uw t » > / ili7.f a bar.k suspension. The eon- a*-; item * '» v -m that none oi their banks iu*p nd :d They preferred to make •n<5 44'-rif. gc. the gold, redeem their hiJU, antJ .ve tr.c-ir charters. Hud there hr?f»n a mn iiar clause ia our Constitution, It 19 h--:w;v *d hut our solvent hanks would hare coin** ts a different ..-inclusion, os ti the i wheel a port ns of DeKaib, waa Democrate te, as ail me uzJ an- -ubwtantiaJ aeUustt wdl bear witne -, ut. I whilst h ru for* time by artful and de.ign.ng appeala, esrsy- cd from tbe veocratul associations el the part, it baa now returned with rsnswol devotion Tbe law of the charter* dire* require that the liabilities of the bank that! not ex ceed three dollar* for erer_. <me of capital . ,1. eh«euh«1 reieelnle. ,*H , otook paid in. but it doss not require that it * ^ i .hall beksot in tho kook- 1 refer to th* again bv seduced from nst toy—.y for wfocn ( j 1[ef4 j construction of the law, aial tb* one it wm one* funots. But whilst we *pcat' practiced upon by th* bank*. Tbe etock tb i confidently of Ihe certainly of the re- J tuny be yud in ipeele, snd the banker my “ - «-*»—-+1 sf&s people eecm generally ..land the law of our bank char ten to be i country, a* ths hanker wdl he offended and that the tsr.k murt at aJJ tiroes bsr* in ir* | w, ll refuiey, iet ont any. mors of his de- vaults one d J ar is specie for every three s predated bii't if i .ro-d in keep bit promise dollar* Of iu iiabihtis*. This ts s great er. w redeem these now in circulation brace the establishment of our hanking system in (jtorgu the country has already passed through two or three period* of dis tress of the character abort describ'd.— These have b«en periods of speculation by the bsnki, and they have arnasied fortunes, while tbs people, ths laboring masses, ha ve born* 111: loss, in each of these period* th* anology has bten made for the banka (bat.Utey wm obliged to impend. TU| tty o! ihesuip.-nsion. But it was said G•:I ,re the Northern banka reaumad that our hanks w.re obliged to suspend to to kee,, the merchants and banks of the North from drawing oil the specie oat of iheir vaal-s This agreement was .-.ton plausible than real. I hey Imre r«.t cnougl of our bills to enable them seriously to in jure o< in this way. They can on y get our bills to Ihe Ctu-nt that our Houthsrn Merchant* pay prompt'y without soil.— I bey do not all do this. If (,nr hanks con tinue specie'payment, the Northern Mer chant must pay specie or its equivalent for our bill*, il'tney get s larger amount than they rec:i-.> from the prompt ptying clast of ricuthen Merchants. They make nuns of the neoas tries of -life which we are obliged t, b.ive, while they are obliged to have our sugar, rice and cotton, more is peeialiy our cotton. If they do not get it, their factori, i must stop snd thousands of ibtir p .or operaixei must be thrown out of employment. Cotton will commaod epeuie or iu equiva lent. Our banka centre I ths cotton trade, and if tre people of the,North run upon ihm with their bills for ipscie, th t; bars smaller numioal price, if be get* gold or back bills convertablu into gold on demand, than he can take iu suspended bank bills, at a heavy: discount. Anil make money by tbe operation. When it ia claimed that tbe banks cannot let out their bills to buy cotton unless they are allowed to suspend, this if true is an admission that they have not the means at present to redeem tbe bills now out in Ihe hands of the planters and others, and tu they ure not able to pay their debts already con tracted according to promise, it is gravely propoied to let them oontract more debts and get the produce of tbe oountry with their promises to pay, 03 they have not the means with lehieh to pay, and let them in this way make the money out of tbo specuiatioo, which they muku upon tho planters cotton, with which to pay tlto planter at some future day. Fur this purpose it ie proposed to give them the privilege to suspend till tbe 15th day of November next, i'bis it is said will prevent a pressure, as the banks will let out their bills freely during the suspension aud they cannot during tbut timo be called on to redeem them. This is but a temporary relief. It ii like giving to the patient an opiate to lull the pain for the present, with out doing anything to eradicate the diseaae from the system. Wbon tbe opiate panes off, the patient is no better, but a little weaker. At the end of tbe proposed sus pension the banks in order to resume speoie payment, must contract their cUcsIatiori and restrict their issues. In this way we have put off the evil day a few months longer, but it must soon come, and come when we may not have as great an abundance of produce in the country, sod when we rosy be much less able to meet it. Better meet it al once, and pats through it us fait at possible. The bill propose! to legalizi the suspension till 1.5th Nov. next. Tb is gives the suspended banks time lo ask the same members of the *aia* legislature who now legalize tbe soa ped-ton, to grant it II further time if the Maks have not completed their specdUtione, as tbo legisatart Will be again In sssston before that time. This is quits prudent in tbe banks. It may bs said in reply to tbie, that the bill provider that upon proof being mode to the Governor, that there bos bssn a general resumption of specie payment by hanks out of the Hut* of Oeorgin, then tb* Governor msy by proclamation require the banks to resaas within thirty days, Tb* bsoks bsv* been ingenious in framing this proviso. What is o«nl by ths general resumption of spools psymeal by tbo bocks world excerpt th* out of Georgia.' .. tad merchants mf they „ ,, stinted? How long will -ii to est op the kgslpn ' \&tbW nth* northern iVu already returned «Pe61* payment, iks Intend to dealTstrty ,*r* ‘banks •pert [ly tw it u ink*. Iht .'Dor. ’ot thlsT Pwhsbly i want- Tits N. i tb* .. the bosks Intend lo detl fairly with the people, why sit 15th of No*. W* f °rto'“ to resume In Usorgiat Ibo bill briber provide that oo.baukjihall oharge more then l per oentapoa ou* bill of exchange to which a proviso usttnohed, thatThis shall haveino reference to foreign exobsa**. This then leave* (he bulu to ahsrt* **mueh ts they please for foreign exohsg* (exchange out of the A’late,) while itirgabzea one per cent on inland exchaueffi The banks do not discount notes. Taey will only sell exchange on tboir agencies, for iostanae at one p«r cent in addition to t*e legal interest or disoount.— This may bo equivalent to more thou 20 per cent par >noum on each paper dollar or note of tbO’bunv Tbe bill is therefor a boon to ifisbauks. They would deal only lu ex change and thereby realixe these large profits, ami they would point to this not si their legal authority for eo doing. The act prohibit* thorn from discounting notes or loaning mo-ey in any way at more thou 7 per ceDt, while it makes it’legal tor them to Mil oxchangeln such way os to realize 20 per cent or more. Under tbie act no bor rower could get a note discounted. But hn could get tbe money if he would give the per ccut by purchasing it on a bill of exohaoge .a Savannah or Macon. This not only legalizes suspension, but tbe moot exorbitant usury, under tho pretext of proteoting the people against bank usury, butthe bill gives the banks tbe right to obarge about as much usury as they please. The bill authorizes th* suspended banks to declare 7 per ctut dividend while iu a state of snspeosion,while a proposition that the banks pay 7 percent interest upon their bills iu circulation duriug the suspension was p.omptly voted down.— This would have been compelling tbo bauks lo do justice to the people. This they woul i tut endure. An other provision oi the aot is held out as a boon to the people, 'i'bat is that the bank failing to redeem its bills on demand shall pay seven per cent interest nod ten per oeut damages if suod to judgment. Tuis is the law now aud tne banks have made no cooci s i ins in this; and it is worth o (thing in pra.tice. Ths whole bil| is art. folly drawn und well calculated to deceive. But and appeal is made by the friends of tbe banks as a last desperate resort, to the (eats of the people, and it is said that the bauks owe tho poop)*- only $5,000,000, or la othe r words have ouly that amount of circu lation, and that the people owe Ihe banks 322,000.000, over four times as much as tbo banks owe the people. If this be so, it is s most conclusive argument against the banks and shows how fearful an error bus been oouiiuitted by our Legislature iu fostering a system which is centering tho whole'wealth of Ike country in the hands of a purse-proud aristocracy built up and sustained by the laboring mosses. Have tho banks obtained this immense advantage over the people by labor and fair dealings; Hare tho bankers labored with their bands? cultivated the soil produced a blade of grass, or a stalk of wheat, oorn or cottou? They live in prin cely style on the labor of the people and in* stead of falling in debt to tbe people for tdl the abuodauee of the people’s products which they use, they are enabled to bring the people out in their debt between four and fire tin es as much as they are indebted to tbe people. With these immense ad vantages, and large resources at tboir com mand, the gifts of the people to them, should thsy have suspended rathci than pay a few per coot premium to get gold to re deem tboir bills? The gold has been shipped from Europe to our shores for sale. What excuse can they give for baring refused to pay tho premium for it, and with it redeem their bills? They should hav* done this out of their surplus lucomes without aoy addi tional burden en tbe people. But is it truethat the peoplo owe the Banks 822,000,001), and tho Banks only Owe tbo people $5^)00,000 ? If it is true the Frosidcuts and Cashiers of the Banks of Georgia hare not so stated under oath. Tbo returns mado to this office, in obedience to tbe last call made upon the banks, by the Executive, to return their condition under oath as required by the statute, show that the assets of the banks including notes dis counted, bills of exchange and ail uther as sets on tho one hand ; aud the liabilities of tho bauks, including bills in circulation, deposits muds with them,and all other lia bilites on the other precisely balance to i quarter of a oent. And 1 may say that it is a little remarkable that these sworn re turns made twice a yeir, by each bank, aud made for a day in tie past, set by ilia Ex ecutive, should io every case show an exact balance between the assets and liabilities nf the banks. I will not say that aoy of thorn aro untrue, bat f will say that it shows a remarkable precision in tho transaction of their business ; that they should keep an exact balance sheet, never varying a quar ter of a cent, when the assets and liabilities amount lo hundreds of thousands of dollars. If it is said that their mode of bookkeeping is such tbe accounts must necessarily bal ance, j may reply that tbe object of the statue was fo require that their returns should furnish the people with a correct and simple statement of their true standing, and not with an exhibition of their skill in book keeping. There is a mistake somewhere ; the statement as to tbe amount of the peo ple's liability to the banks is incorrect or their sworn returns are not easily explains ed. Iloavc the banks to reconcile it. If it is attempted to be done hy saying that the banks have a reserved fund which they are afraid for the people to know that they have made tbe reply ia that this is a part of the ossetts of the bank ; and should be re membered when a return is made oath. la reply lo sill that I about ths bank* and a •aid that the fault I* I la the pros t abus*. of the *bu*e ie not do the system is readily agree that we haVrtri banking Inetitutlon* tho people and *J v *i these become vested riglit* and cannot when given be recalled however injurious to tbs community, till they have expired by llmlta* tion of the time fixed in their charter*, on* leas they are forfeited by *om* violatiswof the contract upon which tbe ohartor wa* obtained. If thsy arc so much abused a* to atqouut to * forfeiture of tho charter* they may be cutirely abrogated and tbe legislas tore re-charter them upon each term* *1 It may prescribe. If the privilege* conferred upon our bunks io their oharter* ere dinger, ous to the best lutereetef the Stato, and are subjeot tu much abase, and’ if .tbe baokt bave suspended speoie payment and forfeit ed those privileges it is my deliberate judge meat that no act should be paaed relieving without impoeing them from the forfeiture, upon them sheh restrictions, by amendment of their,ehsrters, ns will afford some protec tion to lb* people against a reourreno* of such a sta'te or things in foturo. Let their charier* be ea amended as to prohibit them, as io’the case of Liuisitna, where the banks have not suspended, from Issalnk bills or in curring liabilities over three dolian for every one dollar of speoie in the vaults of th* banks and to prohibit them from uting th* proceeds of the bills of exchange and die. cxuntod notes, upon whioli tho balanoe o their circulation is based, ia shaving notes out of the 8tale, or any other way except in tbe redemp ion of their bill*. Compel them also to redeem all their small notes now in circulation iu gold and silver, and let them. be prohibited from pulling into circulation after the first day of January, 1858, any bill under the denomination of five dollar*. After tbe fi st of January, 1859, any bill under ten d liars, und after the first of Jin* uary, I860, uny bill uadcr twenty dollars. That would throw specie iu place of small' bills into oirculutiou among onr people, and would thereby enable tb |o>antry 'o stood* commercial crisis with rnuoh less ineonvenv isnee. Lo: thorn alsoi be prohibited from charging usmy ui.dor the name of exobange on all inland iruuscctione, prohibiting than as individuals arc prohibitoa from receiving more than seven per cant interest upon the sums actually loausd This would convert If they reply that a large proportion of their liabilities consists of their capital stock, 1 reply that a large proportion of tbe indebtedness lo them consists of debts doe them from their own stockholders and d! rectorB. While they are extorting much from the people every year, no suoh differ ence of iodebtodocss as that claimed exists between them and the people, autside of their own stockholders and directors. If the ttiipeusiou is legalised it cannot be denicd|that the banks bave triumphed over the people snd setjtiie law at defiance. They have mode at once the interest upon the whole amount of their circulation, for the entire period of tbe suspension. They re ceive interest upon all their bills, they pay no interest and oaunot be compelled to re. deem their bills. It is no reply to say that they may be sued and compelled to pay ins terest after protest, and ten per cent damn, ces. 'The bills are scattered all over the Stats in tho handi of the people in small sums and not one in fifty has en amount of tbe bills of any one bank large enough to justify him in employing a lawyer in Au gusta or Savannah and standing a suit with the bank. Better give np the debt in ms. nj cates than incur the expense, trouble and delay. Legalize the' suspension and the bills still further depreoiate, properly fo II* lower sod exchange rise* higher. The country has no currency but depreciated bills (for the bonk* will lock up all the gold and surer in their vaalts,)aad we have no meani of determining wbioh bank* are eol vent. At tbe tints set for them to resumi , jmm .. resumo the insolvent banks would bz unablo to do aa< Daring th* suspension they would have flooded tb* country with their bills and the failure would then fell muoh more hen* vlly open the people then it would if they were wound up now before thsy bava time totocwftoUi* circulation of their worthless bills- if they are not good the soontr tit* test is mode and the fsctkoowq f* forutU. If Iht; ut good tfc*y them bock Irom shaving shops io bsoks*- .. ' -■ ■ .bly again; and they would probably do a moil legitimate banking business. There would tben be no inducement t* turn sway from the plrater and refuse to discount bit not*; however good, became they coaid get more usury from tbe speculator. Let tins* and such other restrictions as may be considered wise be engrafted upon their oharter*. And let tlie penalty of a violation be an immedh ate forfeiture ol the chartor, and it It be«- lii-ved that we would have a better system: To this add a sub-treasury system for ths State, such us now prevails in tbe United States, and let all collection- made by the State, and all debts paid by her be In gold and silver. Thin would keep a sufficient amount of speoloout of tbe bauks in the Stats Treasury und id tbe pockets of the people greatly to lesson tho shook, and afford much relief Iu cm case of a future commeroial crisis resulting oven in bank suspensions. As gold and silver would form a considerable part of the circulation, a bonk suspension could only dcpreciute the paper portion of the circulation, and not the whole circula tion. But aside from any objections to the bill on tho score of justio and public policy tiicro aro, to my mind, grave donnte ae to constitutionality, Tbe Constitution of thi United Suites prohibits any Bute from naffiiinff Anv law •■mnairiivr ttin'nhllcmtinn nf passing any law 'impairing Ihojobllgation of contracts.’’ Tbe contract between tbe bank and tho bill bolder is that the bank shall re deem its bills in gold or siver promptly rut demand or presentation. As the bills are to circulate as money tbe utmost promptness und good fsitb is understood by tbe partie* to enter into (be contract and even to be come a part of the very essence of the Con tract. The charter ot the bank is granted by. the State, and ia addition to the other civil remedial by suit, A-c , the aot of 1840, has enacted that the charter of the bank shall be forfeited on failure to redeem the bit's, upon demand or presentation, and lubj sequent provision is made for the appoint ment of a receiver to tako charge oi the a»> acta, convert them into money and pay the debts of the bank, The rights of the bill- holder are therefore by the oontraot limited by his right to one, Ae , but they also em brace tbe right to have the charter forfeited, and the assests of the bank placed ia the bauds of a Receiver for the better security of tho bil bolder. By toe set of 1840 the Legislature has put tne distinot construc tion upon the contract of the banks under their respective charters. Tbe act shows csnciuiively that tbe view taken by the L3g- islaturo of the contract of tbe banks was that they were to redeem their bills in gold and silver promptly upon demand ot presentation and that upon failure to do so their charters should be forfeited. Take from the bill- holder this right, toswil: tbe right to have the charter forfeited on failure by the Bonk to redeem the bills in gold and stiver prompt ly on demand or presentation; and you take from him the highest protection which ander bis contract he his, far the prompt redemp* tion of the bills. But why under the act are the charters to be forfeited if the bills are not so redeemed by tbe Bank promptly? BeoauM tbe banks have felted to oomply with their contrast. If it was not the con tract to redeem their bills apon demand or ^presentation in gold sod stiver upon what principle was the oharter to be forfeited.— Sorely it was not intended byth* legislature to forfeit their charter! union* they hod vio lated their contraot under their charter*.—^• What did the legislature ootuider stteh a violation of the contraot? The feiltite or refusal to redeem their liabilities In gold or silver upon demand or presentation. No other cause or reason is amigned for a for feiture oftheir charters io ths set of 1840. The bill holders bad Ihen the remedy by suit dr chir er action against the banks, bat theft ten were not to be forfeited in ease they re fused to redeem their liabilities io ffolJ and silver after suit was brought and judgment rendered igaiut them, bat the cberten were to be forfeited in cue they refused to redeem their tiabllitie* in gold or silver upon demand or presentation, why? simply be- otase it was their oontract that they would do so, and the act of 1840, required them to comply with' that oontract ‘promptly,* oc their charters should be forfeited and their asset* placed In tbe hand* of a Receiver for tbe payment or tbeir debts aoaordiog to the provision- ol the sot of 1840. if ft ft mani» festly apparent that it it the contraot of tbe banks to redeem tbeir liabilities io gold or silver upon demand or presentation nnd fell* ure to do eo te saah a breach of tbeir con tract u to authorize a forfeiture of tbeir charters It Is extremely diffloqltto perceive bow the legislature oauby tbe enactment of is statute to operate prospective deprive tb* biU holder of tbe rights and ramedte* wbioh he had coder that contract without impair ing Its obligations. The most ntaabwand effective means which the bill bolder bad for ltl * *»™rity of bis right* under tb* t ibtcn bi* *tronge*t In* and wbioh msy have > . duoement to mike tbe oontraot, an toft* tote en away and to tb* extent at tout th* obli gation of tb* oonuaet te Impaired by tbt preposed act of the Legtetetara. **d jf so to that extent tbt *ot If P"*** . woa I , 5 ^ violation of the oonstltntipw ahd void- 1 Upon this constitutional question Judge !xjySSsE&&rtS unlmpotUns even though u be tauifeaUy