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——l—MXs —bu,^—c-aaaaiw ( BANK RKPORTST Dank of AliUsdgcvillr. APRIL ?. isas. Hi* Excellency Oxoirux U. Uilmkr dir—l have the honor herewith to hand yon, • consolidated exhibit of tho Bank of Mdledgc vills and its Branches, on Monday 2d hist. I ha*o tho honor to bo, very respectfully, Your obedient servant, R K HINES, President. ConooUJated Exhibit of I'if condition of the Bank of MtltedgevilU and its Branches, on | Monday, Xd.ijnii, 1 bOs'. Die Capital stuck pa.il in 374,300 Notes issued 640,000 Note* on bond 323 63b Note* in ciiculation —• 316,365 Depoiito account 174,833 38 ! Due other Bnnks 31,338 83 1 Discount and premium account 34,788 83 Time checks 51,415 44 Ccrtiiicatc* of deposit 10,818 05 Balances between parent Bank* und Blanches 16,267 IS $000,293 74 C a. Note, discounted, run ning to maturity 203,570 14 Note* discounted, past due, not in suit 07,705 35 Notes discounted, past duo, and in suit 31,360 — 892,701 49 Bills of Exchange, run ning to mnluiity 48,274 90 Dills of Exchange, past due, not in suit 20,843 84 Bills of Exchange, past due, and in suit 12,714 97,632 74 Incidental expenses 13 094 27 Banking house and lot in Macon 11,000 Note* fur rent on house and lot in Macon 600 Profit and loss account 570 Protest account 113 75 Agency account 41,284 75 Due by oilier Banks 78,561 89 Cash balance, viz. Gold and silver 104.050 52 Nutea of other Banks 219,158 75 Packages of notes of other Bank*, in transitu 6,607 Cheeks on otherUunks 10,808 63 4 50,096 74 5990 393 74 Amount notes und bills dis counted 480,534 33 Os which there is good 4 65.634 33 On this amount 15,000 The hank will likely sustain Homo loss, how much is y*-t uncertain —it is believed, however, that it will bo inconsiderable. Gxohuia, Baldwin County. —Personally np paared K K Hines, Pfusident, and Thomas Rag land, Cashier of the Bank of Milledge'ille, who being duly sworn depose and miy, that tho above and foregoing is n correct exhibited' Iho stale of the Bank ol Millsdgcvillo and iia Branches, ui shunn by the Books ol said Bank. U K HINES, President. ’i' KAO BAND. Cashier. Sworn and subscribed to this lOih April, 1898. TUGS. 11 11ALB, Notary Public. la*l nf St&'htiold rs Shares. Amount. Paid in. Tomlinson Fort 300 60,000 15,000 Thom** Moughon 100 10,000 10,000 T V Delaunay 50 5,000 5,000 A Jarrutt ’ 50 6,000 5,000 W 1) Jarratt 60 6,000 5,000 I C W Howard 300 30,000 27,000 Parish Carter 300 30,000 31,000 K K Hines 650 65,000 27,600 Nichols Si Dinning 100 10,000 5,000 Thomas Hag hind 500 60,000 25,000 j William Sanford 1 0 10,000 10 000 1 Hiller Grieve 150 15,0«0 15,000 Benjamin tt Jordan "00 20,000 20,000 Suulon (iianliand 350 35,000 35,000 f Green II Jordan 400 10,out) 10,000 h Thomas I! Stubbs 60 '5,000 6,000 U William G L inn 050 55,000 46,000 ft I, M Wiley 125 12.500 12,500 h Haiah AE F Hine* 50 5,000 2.600 Mary M NUbel 90 6,000 4,300 K M Orme 100 10,000 6,000 i Wilkins Hunt 050 65,000 41,000 , C&J Beall 100 10,000 10,000 . Ker Boyce 125 12,600 12,500 . 5000 500,000 374,300 . I’lfintrra’ ami Mechanics Bank. COLUMBUS, April -lili. 1833. Sir—l have ihe honor herewith to forward a u statement of tho affairs ol ibis institution, up to r ] Monday the 2d mat,, agreeable to an act of the , Legislature. Very respectfully, Your oh’t servant, d I) McDOKGALD, President. | To Hit Excellency Gtenor. H Gilmch, Go- 1 vernor. Otue’-al statement of ll ie Planters’anil AP- 11 eAaruc•’ Bank of Columbus on A Paula;/, I April 2,1838- > Capital stock 260,000 Nu'.ea of the bank issued 350,000 Notes of the bank on baud 100 000 Notes of the bank in circu lation ' ‘9.400 , Dcpos.tes 21,607 Cl , Duo to other hanks 7,002 81 Discount account 2,478 02 $430,430 07 Notes discounted run ning to maturity 154,58,1 r-> Bills of exchange tun ning to maturity, on New Yoik 137,610 Bills of exchange run ning to maturity on Charleston 2.500 Pills of exchange tun ning lo maturity, on Augusta 1,100 Bills of exchange run. ning to maturity, on Mobile 6,000 t 301,800 36 Due, by other banks end agents 21.053 06 Incidental expenses 7,033 07 Silver 58.308 01 Gold l,lhl 74 59,400 05 Notes of other banks 36,265 U Slates Treasury notes 3,000 Cilv changeJulls 1,755 43 41.020 4 3 f 130,4 M) 07 ft lo ho ix, Mutcogct count;/. —Perec.nally, rnii* 9. McUougald, President,and A, B. Kagan t'.idiicr, of the PlHtilei' and Mechanics' Bank of '‘idumbus, bcb'rc me, and being duly rivuiii, siy, tlial ihn above is :i line and correct state, ment iif ilie conJiiiiiii of miJ bank. on Monday I lit "J il.» v ol April, 1838. 1). Mi DOl GAUD. Pre«t. A.Ti KAGAN, C*slner. HM' .rii hi, ii'i.l s-uliscfibcd before me. Ibis llh liu\ U, .Vplii, I .-Sn, M. KgUEKTSGN,Notary Public. A Itir li) mOCKIIOUJCHS, lb- THK IM.ASTX.IIB asu xeuiiAMicg' mu 01 coLcxnca. Share,*, i'din r tha Ain't. I Andrew! .Samuel K .00 25 12.00 . bank*John 300 20 7000 j Hethuno James N 188 20 1700 ; Berry Thunia* 100 26 2500 I berk* Wiley P 50 25 1200 Pm lien and Lira-Icy 00 20 1250 blackmail A 0 li A and T N 2 26 50 j Colquitt Walter T 168 25 4700 Crawford Hardy 60 25 1250 Chamber* Jump* M 100 25 2600 1 Colquitt John il H 100 26 2500 Ector Wiley b 150 25 3750 I Porter James M 50 25 1250 bogle Jacob 60 25 1250 Greenwood E 3 200 25 5000 Grant A L 183 35 4700 Ghent Jamas 0 50 25 1250 Gobi Thomas fl 60 25 1250 Harris Henry 100 25 2500 Heard George W 50 25 1250 Haralson II A 50 25 1250 Holt Hini ajr 183 26 4700 JlunUfirld WSi Co 50 ?5 1350 Hull & E’afvuiid 100 *ij *6OO Key Abraham 20 25 500 Kimbrough W 11 40 25 1000 Lucan ami brook* IOU 33 2600 McDoOguld Daniel 1018 25 35,450 Mark* Matthew It 4 25 100 Morris Thomas 100 25 2500 Morgan John E 300 25 7500 Moody I, 11 1(1 35 350 Perry M W 511 25 12775 Perry M W trustee of 3 A C Perry 300 25 7600 Perry M W trustee of Mary M’l.omlon 2 25 50 Perry Shadrack 604 25 10,600 Perry Win 300 25 7500 Page John 100 25 2500 Peabody John 100 25 3500 Kagan A II 321 25 8025 Read and Talbot 200 25 5000 Robinson Alexand’r J 100 25 2500 ncuu vv m pen 300 25 7500 Redd Win A 500 25 7600 binilti Hampton b 435 35 10,875 Smith Georgs 100 25 2500 Thornton Dozier jr 100 55 2500 Turontine Geo W 50 25 1250 Thomas Watson 138 25 3450 Williams tV Herring 200 25 5000 Wimberly Henry P 000 25 7500 Watson Jamo* C. 733 25 18,325 W’alson Thomas W 400 26 10,000 Watson John H 500 25 7500 10,000 350,000 Female .Society.— Ihj James Banbury.- To « young man nothing is so important us a spirit of devotion (next to hia Creator) to some virtuous and amiable woman, whose im> age may occupy Ina heart; and guard il horn the pollution which besets it on all sides. — Nevertheless, 11ruit, that your fondness for the company oftho Indies may not rob you of the time which ought to bo devoted to rend ing ami meditating oh your pruiessioti ; nnd above nil, that it may not acquire for you the reputation of a Dangler, in itsclfbordering on the contemptible nnd seriously detrimental to your professional character. A cautious old Bqnarctoes, who might have had no objection to employing such a one at the bar would perhaps, be shy of introducing him ns n prac. thinner in Ins family, in ease he should have a pretly daughter, or sister,or niece, although all experience shows that of all male animals the Dangler is the ittiost harmless to the la dies, who quickly learn with the intuitive sa gacity of the sox to make a convenience of him while ho serves tor a butt also. Tick Hkiii.—Thu papers are holding high carnival Over ttic ciicninslaiieo that Mrs. Wood has got a little baby, we see nothing marvellous In that. Wo know of a colored lady not far from the Common who has three, but the Times ha* got out no extra to announce the fact.— Bust, .Vest <s. With regard to the 1 lady" near the Common, the common phrtt.o is iever-rd of “all cry and no wool" —as il seems to be all wool and 'no cry.— A*. (). Picayune, IJV i:\PKESS MAIL [FUOJI null COUnKSrONUKST ] WASHINGTON, April 20lh, 1838. In the Senate to-day on motion of Mr. Pres ton, the rcso.’ption proposing tho annexation of Texas to the U. Stu'eswae made the special or der of the day fhr Monday nCAt. The morning hour was occupied in the const deration of private hills; at one oVioCk the hill to prevent the issue and circulation of the old poles | of the late United States bank came up. Mr. WAUL argued that there were no con- | elitutior.ul objection* to the bill. Mr. Preston j briefly replied, and said the argument of Mr. Wall had failed to convince him. Mr. Clay of! Alabama,defended the bill at some length, con tending that it was a constitutional measure. Mi. WHITE of Tenn., spoke at somo length in opposition to the bill upon the ground of tie uncoiislilulionalily. In conclusion he made some reply to Mr. Grundy bis colleague, which called fotth a u joinder trom that gentleman. Mr. Pren tiss made a few remarks, when Mr. Rives took the floor and addressed theScnale at soxnc length. Mr. Prentiss followed with a few unnaiks, 1 After some further debate the bill was ordered ! to be engrossed for a third reading, yeas 27 nays j 14 as follows. YEAS, Messrs. Allen, licnlon, Drown, Du ' daman, Calhoun, I lay,el Ala. Cuthborl, Fulton Grundy, Hubbard, Linn, Lumpkin, Lyon, Niles, i Norvell, Pierce, Rives, Roane, Robinson, Rug. gles. Smith of Conn. Tipton, Trotter, Wall, Williams, Wright and Voting 2'. NAYS, Messrs. Clay of Ky., Clayton, Crit -1 leaden, Davis, King, Mcnick, Nicholas, Robbins, Smith of lad. Southard; Swift and White 14. The Senate then adjourned. In the House of Representatives, the bill liom the Senate for incoi pointing the bunks of the District was reported without amendment and committed. Alsu the bill to authorize the Prcsi i deni to lease any lands in the Ihstriet lielonging I to the Government and not occupied, fur ten j years, and free of rent to any person, for the tul j lure of tho mulberry. Also a bill for electing an additional in undue in the Disiiiet, Private ih 1U weie lepertvi by M: -t- Ewin,- ar.J JJas. •• ’ 1 ol Virginia. Mr. RELL from the Committee oil Indian > Affairs reported with an amendment, the Senate hill to authorize the appointment of additional clerk* in the olllcc of Commissioner of Indian i, Adairs. Tito House renewed the consideration of the resolution for appointing a select committee to inquire into the expediency of divorcing tho Go vernment from the public press—the question 1 still being on Mr, Droingooln’s motion to amend the same hy extending the inquiry to the mean* y by which the printer to the House executes his 9 contract, and to the expenses of certain commit. tees of investigation heretofore appointed by [ho House. [) Mr OAKLAND, of Virginia, who was enti -0 tied to the floor spoke about half on hour on the H subject, when the hour assigned for the consider* 0 ration of resolution* expired. The inquiry pro -1) posed by his colleague (Mr Drumgoole) he |J said ho should vote fur. If any political combi jj nation was made in reference to the election of n u printer to the House, let it be exposed and 0 rung from the House top. He had voted r the ; J ! present printer, and as far us he has done his |* s duly according to his contract, he would sustain ,j I him. Hut ho invited his colleague to extend his I) I enquiry still farther, Hu hoped he would hi lt quire into the disposition of the Executive patro b i nage in regard to the press. The inquiry ought ito embrace all the different department* of the J 1 0 Government, a* well as the Legislative depart -1) men's. Hows* one of those who believed that d the Executive branches of the Government, was the most powerful and the must dangerous, and !( that we should do more in retelling the public 5 from its grasp, than from any other department, The orders of the day which were private bills u were called for. MrCambreling moved to sue. pond tho rule* in order to go on with the unfin -0 hired business of yesterday, and thereupon asked [) the yeas and nays which were ordered. The d question was taken, and the motion to suspend the titles was agreed to—yeas 146— n0-, s til), j The House then resumed, as the unfinished i) business of yes terday, the consideration of tho d 1 kill tpaking appropriations lor the conglrticbon of the Cumberland Road in the L aics of Ohio, 5 j Indiana, and Illinois. H MrCI.OVtNEV spoke at some length against d tho hill. Mr Pickens followed in opposition lo j it, Mr Corwin advocated the hill at length.— y Mr Casey moved the previous question. Mr. b Pickens moved to lay the hill on the labia. Mr. d Campbell of 8. C. moved a call of tho House. Lost. The motion to lay on lito table was lost j —yeas 84, nays 109. Tho previous question - was then reconsidered—93 to 01. Tito main question on tho engiosstncnl was then ordered to be put —yeas 108, nays 90. j Mr THOMAS moved that the bill be read a , third lima on the first Monday in May next. Dy t that lime we could determine whether there ■ wore funds in tho Treasury to meet it. Mr RHETT moved an adjournment. Lost. Mr THOMPSON, of S C., moved a call ol | the House, upon which the yeas and nays were ■ ordered. Mr CRARV moved an adjournment. Lost. 1 The motion for a call of tho House was l ast — yeas CC, nays 197. .Mr THOMAS’ motion, (hat lito bill bo read a third lime on the Ist of May next. Lori, j Tho hill was finally passed, and the House ad- Ijotirnod. M. WASHINGTON, April 31st 1839. The Senate did not sit lo day. In the House of Representatives, after the pro sentation of some memorials and petition*, and the disposition of sundry private hills, the unfin., iahed business of yesterday was taken up, being the resolution offered hy Mr. HOPKINS of N a. for lito appointment of « Select Committee to inquire into tho connection of the Legislative and Executive Departments of tho Government with tiro public press, and the expediency of do* stroying that connection, with the amendment ol Mr. Dromgoole proposing to extend the inquiry to some kindred topics, and also to lito expenses of the investigating Committees of the last scs. sion. Mr. GARLAND,of Va. concluded his remarks in reply to his colleague Mr. Dromgoole. Mr. Garland you will remember was Chairman oi one of the investigating Committees. Unstated that it was known lo him that General Jackson had himself acted for the appointment of those Committees, and put his wishes in writing; but | ho was afterwards overt tiled. ! Mr. OAivJiAND also took occasion lo icier to j another di.orcc-'-lbal of the Government fiom j the Ranks; —he H' at « hcn thal fiub j ccl : canto up, if it ever should bo 1 considered, he would hold up a mirror lo cfltti'in j' e iitlemen 1 who now support tho divorce, which would re • present them exactly as they stood at one lime, 1 ; when they agreed entirely to hi; doctrines on lito subject. No decision was taken on the resolution or | the nmeddmcnt~-!tSc debate having been inter ! rupti d hy tho expiration of iho hour. The House then went into tho consideration ■ ■ ol private hills : and was so engaged during the ! remainder of tho day. ( ( The hi!!, w hich was ordered to a third reading i yesterday hy the Senate, to prohibit tiro issue and circulation of tho old notes of the Rank of the United States, was defended hy its friends on the most htitudinous grounds of constitu tional construction. The opposition made toil was eon lined solely to the question of constitu ’ lional power. Mr Preston and Judge While, in nay opinion, demonstrated that there is not the (lightest t-hadow of authority for such an aetmrnt. The “party 1 ' wore in hopes that the Whigs would fall into lito trap set for them, and take Mr Biddle, his letter, and his doings 1 ° under their care. Rut they would not iritciferc j ! in the quarrel between tho administration, and Mr Riddle. They only wished lo preserve the , : constitution fiom violation. If Mr Biddle has • transcended his powers —that is no reason \v! v , Congress should transcend their powets, ; It is said that the (elect committee appointed c 1 to itvpti'C into the liicumstanees cl the l.n.e ; , dud, Will upoil on M ■ .nay; that they will j nvmntu tid a strong mcasuic wl.tcbtan never i receive tho sanction either us the House or tho a country. The majoriiy of the committee are I bitter partisans ; and no one expects them to u i justice to Mr Graves. The minority will srrd in n counter report. M. J \tromlheNew York Herald, of the 20th inti .] Money Market, r Vv e are on the verge of one of the greatest j revolutions in monetary affairs that the United ■Stales have ever seen. The General flank Law, s which has passed both Houses of tho Legisla* s ture, and belore this time, has received the signa . lure of the Governor, begins a new, singular, and extraordinary era in financial affaiis. At the elo.-e ot tho last century, the present banking sys tem began, Mince that period, it bas produced . filly local and leu general reactions—two suspen e sion of specie payments—besides a great deal of useful enterprise, valuable improvements—migh ty fori ones—and great distress—for like the divi ■ nity ot the Persians, every organized banking e system contains a principle of good and evil in different proportions. The new General flank Law is to the old hanking system, what the re- II inoval of the put pie hy Constantine the Great I was to Constantinople—it began the “decline and o lull of the old Koman empire.” a fit® excitement, buoyancy, and fervor, among ( ■ tho initiuted ol the new regime in Wall street, ate the most deep ami extraordinary kind. It J ! is (liferent from any thing wo have ever seen. A . ! new and powerful principle is coming into action . j in ihc currency, us great and energetic ns the first t application ot sh am was in physics. There can he no tliistaiio. This new Bank Law will call 0 into existence banking capital to ti e amount of one hundred millions or more, in Ires ibcu two t y a", a, *d producu expansions, spocululions, for' tunes and effects, such as few at this day can re, alizc. i'eople may think that ibis statement is itnagi : nary—no such thing—it is sober fact. . First let us give the leading leaturcs of the now system. By this law, any number of persons, foreigners or natives, residents or otherwise, can establish a - bank with u capital nut under 43' 100,000, but to 1 any ex lent beyond, by putting in trust, under tiie , Stale Comptroller, United .States or Slam Stocks, to half the amount—tiro other half in good niort j gages on real estate. Thu association is then j authorised to issue an equal amount in paper mo ney, retaining always as a basis, Bit p.r cent, in j j specie us its issues. The paper is signed by the Comptroller, and the original capital—half stocks, hall good mortgages—remains always in uusi, > *0 f> land to redeem the issues in ease of tcuil- I sion, accident nr mismamigcineni. j These are the leading points of tho new :-'jSo 1 I tom, as i; differs from the old. 1 | _ The present incorporate * uaR ' KS '_,, an out nl | - their capital aiul credit in exchange for mercan tile paper, retaining a per coinage for a specie ha si*. I' l 'he new system, the capital can never he diverted from i.s purpose, and nothing but the ere • dits of the l',mk can bo issued at all, deducting [ fiom (ho a nount of these credits the sum retained . !in the shape of specie. To put ibis in plainer j language, « c give the following analysis of a bank > on each system;— s I Util BXSJv sts'i'EM. Mi:W r. UX SYSTE.'.t. Capital 100,000 fixed 100,000 I Loans—authorized t!5U,000 do 87,500 1 Specie—any or none 000,000 do 18,000 This table represents the capacities of both sys i terns. Tho new bank system is certainly the ! strongest; because, if tho original capital is worth j its lace, it never can he loaned out on commercial paper us the old may he. This might curtail the I profits of the new system, but the deficiency is made up hy tho capital ia stocks and houses, still yielding them a revenue, while in addition, the same capital becomes the basis of a currency, aluiaijs redeemable in specie. It also gives to the men of real properly, all the power to create a currency. I Wo conceive (hi. law lobe in fact worth nil j that Congress, or Bank Conventions can do in I years, fi is the establishment of a specie paying banking system; illimitable in extent, amount, force, power and influence. It will make Wall street more than ever tho rentro of tho money transactions of iho United States—and ultimately the centre of the exchanges of the commercial world, fire simultaneous establishment of stea mers between this port and Europe only confirms the sway ot empire in this glorious island. Such is our situation—such is tho opening— such is the position. Have we tho elements to put this system into motion! Can it ho built up at all! We conceive it can, and that very shoilly. During the last ten months, iho various slates, throughout the country, have authorized issues of stocks, in the aggregate, probably, to the amount ol J2(),000,000, in addition to the existence of nearly $ I (>0,000,000 hy previous acts of incorpo ration. Here are tho materials that will consu late one half the capitals ol the new system. The owners of these slocks will receive tho yearly ju iciest, at the same time that they may add to il the profits, under good managers, of hanking on the same. The other hall ot those capitals are to he in moitsgages on real estate. Os this there is abundance, even in New ork. Accord ing to the last annual return, the real estate of the state of New York amounted to $600,- 000,000 and more. Supposing that two thirds are already mortgaged, the remainder is quite sufficient tor all the banking purposes to set an empire on her legs. Here are the elements of the fixed capital —what have wo for the specie basis of on the issues? An abundance. From all parts the specie is flowing into the U. S. Under the power of tho cotton crops of the south, set in action by Mr. Biddle, wo have seen probably $6,000 000 •ouiing into the country since January last, fmIT) me ’ v crld around. During tho next six months probably $6,060 ODO more will ho at tracted here—making id tin’s C : U an aggregate of 812.000,000 of specie, which nutrofiZ? R . under the new system, issues to the amount of $87,000,000, with a fund to an equal amount,ac a trust fund, to guard against ulti. i mate accident. j We present iho strong features of the new j system—reminding our readers that its pow i er is onlv limited by the capacity of tho coun try. : lii pursuance of this state of things, wo learn f that several banks us very large capitals, on the I new system, are already organizing, in Wall-st. 1 one in particular, of at least §30,000,000 of ■ capital. Isaac S Broy ii is said to be preparing t one; the Darings of London probably another; . and several Trust Companies think of turning their institutions into hanks. Mr. Biddle can ’ also organize ids Agency in Wall si to any ex ■ tent he p'eu-cs under the now law. Li short, we begin a new era; start on a now e i v »\vag ; and if tbn nex’ six months do not wit, ness expansions, speculations, and excitements, ’ beyond what has ever been seen in any civilized s a,, \il will bn entirely owing to tho veto of Aza ts tiah S Flagg, comptroller of the slate of N York, j whoby the law, is made a greater man, and will wield more power than did Napoleon, Ctcsar r or Nicholas ol Russia. s These views may seem a little imaginative; .• hut the/ aio sober, mathematical deductions Item unquestionable da a. t Dy the new system Iho resumption of specie. payments; an I the creation of a National hank •• both l« • i".ne dea l le:iv-s. Until il goes into op | •■■'i " 1 ' VI -‘ nviy, gs • t..e blest • ~v e.cats of the id . all as. I -*■ ffl.lWPfcjy.ir lllf 811111 HIM |HUmm I ■ !!!■■> CHRONICLE AND SENTINEL. I 1 __AA r « Thursday Morning, Aprl 2fi. We call the attention of our readers to the ar ticle in 10-day’s paper from the New York Her | aid. A new era in the system of Bunking has commenced. The Legislature of New York has - passed a hill authorizing private banking, under particular rcstra.nls and condition?. It is a sys* * tom containing within itself the principles ofvi. ' tality and generation. Being based upon real j estate and Stale stocks, it is unlimited in its ex*- ■ tent and indefinite in its duration. Its natural * tendency will he to create a redundant currency, the consequence of which is to ; raise the value of every description of pro perly, and every increase in the value of real properly is a creation of Bank capital to the ex tent of that increase. One Bank thus begets ano [ thcr, and that, others again, to an extent beyond the reach of human calculation. Every man or ■ association of men, who can purchase 50,000 dol ’ | lais worth ot the bonds or stocks of any of the Slates and owns the same amount of real estate* i can become a banker and issue his hills to the 1 amount of his capital, $lOO,OOO. The property j must bo mortgaged to the State as a security for I the redemption of the bills issued, and thus while r the hunker still draws his interest upon iiis Stale .Stocks and the rent upon his real estate, his pro perty is yielding a double profit by the bills which ho issues upon it am! loans out. The rage for private banking which this law will excite, will produce a rise in the price of Slate Stocks and real estate, and a depression in the value of the stock of existing Banks, for who will want bank stock, 1 when he can so ca-ily become a banker himsob? The system is now—its effects to their full \ extent, no man can calculate. Only in the dollar of its capital must be fepe.v-ie, and it may, therefore, issue seven paj<er dollars fur one ij metal'. I bus, a banker whoso capital is $lOO,OOO, ol whk.a k; 1C,500 are specie, may is sue $87,500 j-, b ;i| s< It is plain that if ho issues lo l extent of his capital he may ho easily I' .'.allied of his specie, and the question then oo | ruts, whether the confidence of the community | in the double sccuiity for bis bills, (viz) his ori ■ girtal mortgaged capital and the notes taken for ' his issues, will keep up their value after his spe cie is expended J That cannot be an immediate ■ constant specie paying system, which allows an issue of seven paper dollars for one of metal ; and yet if the law is honestly and properly executed, the ultimate redemption of every bill issued un der it, cannot be doubted. Money is said to be 1 the representative cf property —but under this 1 system of banking, properly will become the tc presenlative of money. It will not now be ne , ccssary to buy up specie to put a bank in opera" lion—it will bo sufficient merely to buy up real estate and State bonds ! Bank bills will not bo issued upon the faith of specie in vault, hut upon the faith of lands, houses and Slate , bonds! What will be the effect, we pretend not ’ at present to determine. We desire to see the ’ hill itself before wo form or hazard an opinion. 1 i Rhode Island Election. The general election for Governor and mem bers of the Legislature look place in the State of Rhode Island on the 18th inst. Sprague, the Whig candidate is elected by from 4 to - GOO votes over Francis (V. B.) for Governor. The entire Senate, and two thirds of the House of Representatives elect are Whigs. There is not now a Slate north of Virginia, which Van Burcn can claim with certainly, except Now Hamp shire, and his power there is on the wane. A meeting was held at Norfolk on the night of the 19th inst, to receive the report of the Dele gates from that Borough to the Augusta Corns mercial Convention, which was attended by a largo number of mercantile and other citizens. Col. John S. Milson, one of lire Delegates, pres ented to the meeting the report which had been adopted by the Convention and read the accom panying, resolutions, the grounds and objects (4 which he illustrated in a speech of considerable length, while he argued with much foico and clearness the general question which they invol ved. The report and resolutions were unani mously adopted. Resolutions were adopted advising tho call ot ; a State Convention and requesting the towns and counties of North Carolina to appoint dele- ] gates to the same. The Beacon of tiro 21st inst. says; “Tho General Committee on the subject of the South ern Commercial Convention, met last evening at sis o’clock, and fixed upon the second Wednes day in June next, as the time for holding a State 1 Commercial Convention in the city of Richmond 1 A committee of seven gentlemen to correspond and prepare an address, was also appointed. The . selection of twenty five, delegates to the State , Convention was then made, and the General Committee adjourned. The Southern Spy of the 21th inst. says:—-Wo received, a few days since, from Col. Bohon, one ■ of the Commissioners of the Western and Al ■ lanlic Rail Road, a private letter, Irom which, however, we feel justified in in .king die follow -1 ing extracts, as they relate solely to an important subject in which a lively interest is felt by the f community. This must bo our apology for intro ducing to tho public any portion of the cominu' 1 nicalion, without the knowledge of tho writer. The inform ition furnished is highly gratifying to the fiends of Internal Improvement in Georgia, and especially to those who manifest an interest in this Stare work, now in progress, which is cal culated to redound so largely to the honor and tr-r.c interests of Georgia. Tho letter was wrb ten at Marietta, Cobb couu | ty, under dale of the 12th instant: “On teaching this place, I found, that consi derable work had alicady been done, and that a large number of Contractors, font various por tions of the Union, were already on the ground, and actively engaged in traversing the line pro posed to be let out on contract, and on oj eninu the, Sealed Proposals, on Monday last, a was found, that at least EIFTV -MILES of the Road, was bid for, on terms deemed highly advantageous ! 18 l * iB £}ta;u > at “i subsequently accepted by Ui I Commissioners. K ‘•The character of the Contractors for indusm I competency, experience, and ability, arc B unequalled by the same number of Contractor* I : employed on any similar work in the United I - States, or perhaps in the world; and it gives i llt I . great pleasure to stale, that the prices alipulatr-j I . for, on the line now placed under contract, ait B 1 d lower than any similar work now in progress i a B r the (state. I “ Our heaviest Contractors are from the Not. I them and Middle Slates, but there are many Ila I I live Georgians engaged in the work, with p ros . I . peels of advantage to themselves and credit to the B [ Stale. The distance now put under contract I (50 miles,) is said to be greater than ha* evet I , heen pul under contract, by any Hail Road Com. I pany, at one time, in the United States. B ‘•All persons, I believe, who have attended the B let; g, are convinced of the perfect fairness uml I impartiality of the Commissioners, in di*ch;u- H ging ibis arduous and important duty. “We are now actively engaged in obtaining B , the right of way on t!ic lino of the Rail Road B but I am sorry to say, our success in this business K has not been commensurate with our anlicipa. Ht lions. Many, it is true, liavo already conceded Hi the right of way gratuitously, but others, actuated I by motives which can be as w'cll understood as |KA explained, arc asking for damages. These, i« Hp * most cases, will have to be decided by references, Rafe and, in the last resort, by special juries, as we ate fjlil still determined not to pay unreasonable damages 818 claimed. f “Our Engineer Corps are in high spirits, and RB well pleased with the condition ant! progress of SUB the work.” The Southern Recorder of the 24th inst. says. .■ “GcH. Scotl, who has been appointed to the I command of the troops stationed and to be sta- I V tinned in Cherokee, lias, under the authority of I the United Slates, made a requisition on the Go' I vernor of Georgia for two regiments, ten compare Hbß ies each, of infantry fur that service. The Guv- I ernoi has re ognizad the requisition, by E||| through the respective colonels, one company IflH from each regiment in the following counties, tho HB most convenient to the scene of operations; two KH| companies Hall, two Habersham, one Jackson, Ejfl one Gwinnett, one DckaU<, one Campbell, ono ||B Cairoil, sue Coweta, one Fayette, two Henry, [ J one Newton, one Walton, one Clatk, ono Madi, | son, two Franklin, one Elbert. t These troops are to be raised as volunteers, or by draught, and will rendezvous at Mew Ecbola as speedily as practicable. !; Acquisitions have been made likewise upon M North Carolina, Tennessee and Alabama; which, 9 with the Georgians and the U. Stales troops now i in the country, and those ordered from Florida hS will constitute a force bo formidable and imposing’ that we hope, most sanguinely, that all dispusi lion to hostilities on the part of the Cherokces, U will bo quelled; without resort to Violence, or the m| elliision of blood. IH The I.aw's Di.ur, —The Milledgevilla Jour- a of the 2 llh inst. says ; “Some few weeks since, M at tile session of Warren Superior Court, a wit. cJ| ness swore to on occurrence about 10 o’clock in iM the morning, was indicted for perjury, arraigned, B tried, convicted and sentenced to the Penitentia* ry, by 1 o’clock of the sane day. He cottainly cannot complain of the tardy administration of justice. $ re. w cmmrnK tao »———mmmmmmtmrnitm l : 'COMMERCIAL. AUGUSTA MARKET. ; ‘i Colton. —Since our la<t accounts to the XClh ol March have been received,and our Market has presented a more lively appearance; considerable sales have been made and prices have rather ad vanced. The demand for prime Cotton has also been good as a mode of remittance to tho North. We now quote 7 a Ojcls. as extremes of the mar ket, altho’ we have no doubt that a fancy ailicio would command a fraction more. / Groceries. —Business with the interior rathe; light, about 50 llhds. Molasses have been sold du* ring the week at 35 cents. 60 days ; and 7000 Bushels of Salt at 55 cents. 4 mos. Exchange. — Checks on New York on selling for 10 per cen', on Philadelphia 8 per cent ; on Baltimore 7 per cent, prem; United Slates Bank notes are held at 8 per cent, and Chocks on Charleston 4 percent, prom. Freights —Continue dull at the oid rates. [ •- jjwagcmjtyr t—»i mmmmmmgc ; MARINE INTELLIGENCE. SAVANNAH, April 24.—Cleared, sehr Fisher, Amt*, Baker, Nassau, Ganges, Carter, Bath Me, Arr. steamboats Free Trade;, Lit swell, Augusta, A’ithmond, Joius, do. Went lo sen, ship Ilfnily* Gallagher; N Y; schr Gan ges, ( Hxrtf r. Bath. ' CHAKLFSTON, April 25.—Arr yesterday, ship May* ! newer, Crabtree, NV; schr (. riaiin, Bourse, Jioivu: Po iy. Humphry, St Augustine. CtM, steamer J)avitl W St John, Wells. A uglier a Wcnl t.» sea, brig l< hn (J Calhoun, Boss, Havana schrs John M’Clnng* Callaham Philu- Trcn> 011 t uimer’ Itusioo and {'rondeiivc. .team pai-krt NVath Carolina! Ueynolfls, Wilmington, N (.. ✓irrir.T«rr»T^F„ rin , >B[| <M| Public Meeting, “Resolved, That bis //f anl -, Uie yf ayor be re to appoint an w;,i y day tor a public meeting ot the ( itizens, to mv ostigat® the causes of escape j r . o,n PH" . J ,ls . t ' l °- ol certain persons, charged with htgli criminal oil* nces; algo,lo organize some svs ' ti mqi action, u check ilia increasing evil oigaming , within too Corporals limils of tho city. “A inm extract from the Minutes of Council, pas sed the Uthday of April, 1838. “GEO. M. WALTER, Clerk ” In obedience to the above res. ! ,t'mef the Citv Council of Augusta, f, SAMEi . I, ;! .ILK, Mayor City, do respectfully im i>. the Citizens of, Augusta lo meet atlhet ily Hall, on.SATURDAY, i >he JSth instant, at 11 o’clock, A.M.to take into Consideration the matters staled in said resolution. SAMUEL HALE Augusta Benevolent Society. I The following are the visiting committees aj pointnl to act uutii the lllh of May .- Division No. I —James W Meredith, Cyrus Pike Mrs. France. M' Coy and Mrs. Nancy Jones. Division Mo. 2.—d!ev. .Mr. Cunningham. Rcr. If, k Branham, Mrs Elizabeth Cole, and Mrs. Anna 51 ’ Stoy. Division M'o. 3.—Porter Flemming, Martin Wfl ‘ cox, Mrs Barrsa A/’Kinne, and Mr*. Ann Berryhill. All ruses ofsicknoss an I distress, Ibo citizens are respectfully requested to report n them, april 18 T. S. STOV, Secretary. A. OTitß.—B xaST LRN BANK ol Georgia bills taken for Goods —also bought (or cur re ■ ' Bank notej of this city, by the subscriber, No P.’T Bread Mrcer. E D C' OKU npr.l "6