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WILLIAM 13. JOAES. AUGUSTA, CEO., THURSUAY IHORNIXG NS AY 81, I SBS. [Tri-w ccklj.]—V«l. SI. Ao. 05
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Published
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8. Legal Advertisements will be published as
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Admr’s and Executors sale of Land or
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r a responsible reference.
CHRONICLE AND SENTINEL.
AIWUSTA.
Wednesday Morning, May 30.
“A lover of Music” was received 100 laic
sot this day’s paper, but shall appear to-morrow
CCy Wc have received a 'copy of the Message
of the Gov. of South Carolinato the Legislature
at the opening of the extra session on Monday last,
which wo shall publish to-morrow.
It appears to he the impression at New Y r ork
that neither the U. S Dank nor the other banks
in Philadelphia will resume specie payments un
til the Specie circular is repealed, or the Gov
ernment disclose .that their hostility to banks has
ceased.
The agent for the negociation of the State
bonds of Kentucky has succeeded in effecting a
disposition of $1,250,000, on favorable terms. It
is understood that these bonds ate taken on for
eign account, and arc made payable in London.
A proclamation has been issued by Gov. Ritncr
of Pennsylvania, offering a reward of $5OO for
the apprehension and conviction of the individu,
nls engaged in the burning of the Pennsylvania
Hall, on the night nt the 17th inst.
The Cincinnati Gazette states that, at a late
convention of the Indiana Hanks, it was resolv
ed to correspond with those of Ohio and Ken
tucky in reference to an early resumption. It is
thought the Western Hanks may resume at an
early day, without waiting for those of the Allan
tic or the South
At Cincinnati on llie 1 till), (lour was selling
at $6 per barrel, and whiskey at 28c per gallon.
At New Orleans on the 251 h, flour was dull
at $7 25. About 2,000 bbls arrived on the 24th
in flat boats.
The House of Representatives of Connecticut,
by a vote of 165 to 33, have refused to recom
mend the expunging of the word 'white' in that
clause of the Constitution which specifies who
shall he entitled to vole.
The St. Louis Missouri Republican states in
substance, that the chamber of commerce of St.
Louis, appointed a committee of nine to confer
with the officers of the Bank of Missouri, as to
the probability of its boing able to issue its paper
so as to afford a circulating medium for the State,
the want of which is now distressingly felt, and
to increase its accommodations to the citizens of
St. Louis, and the Stale generally. The confer- !
cnce took place, and the commitieo made their!
j' report on the 9th inst. 'They slate that the bank
is at present negotiating for the sale of Slate bonds
which negotiation, if successful, will enable the
banks to meet the wants of the Slate, and to af
ford the desired accommodations. It will also
enable the bank to furnish exchanges on the Easl,
at rates so low as to prevent the further exporta
tion of specie from the Slate. From facts laid -
before the committee, they are of opinion that a
sale of the bonds will he effected. The Bank of
Missouri is the only hanking institution in that •
Stale, and the almost enti-e withdrawal of its
notes from circulation since the suspension of
specie payments, has left the trading community j
| without any medium of .exchange in the pur
! chase and sale of products and merchandise, and
the people without the means of paying their
debts. The pending negotiations are looked upon
therefore, with a high degree of interest.
New Orleans Monet Market. —We learn
with pleasure, says the Picayune of the 25th,
that the condition of monetary affairs in our city
is gradually improving. Much more animation
prevails in every department. Advances on bu
siness paper are made more freely, and the dis
count on up-country paper is becoming lighter.
The quantity of specie in market has increased,
j and die brokers offer it now at a premium of 7
a7j per cent. U S Bank notes are very scarce
and much enquired after. The premium is
equal to that for silver. Treasury notes are also
scarce and bring the same premium. The rate
of discount on Alabama and Tennessee bank
notes is now 9 a 10 per cent. Mississippi, with
the exception of Brandon Bank, 25 a 30 per ct.
Short sight bills of Exchange on New York are
in demand at a premium of 8 per cent.
The Bee, a leading Administration paper in
; the city of New Orleans, has the following :
‘■Candor induces us to acknowledge that the
introduction by Mr. Clay into the Senate of the
U. States of the resolutions quoted in yesterday's
True American, exonerates him from the charge
of favoring abolition. The resolutions, it is true,
do not deny the existence, of the power in Coni
gross to abolish slavery in the district of Colum
bia, but they nevertheless distinctly declare that
the institution of slavery should not be abolished
in that District. In our comments on the charac
ter and opinions of the Kentucky statesman as
in all other political questions, wo are guided
solely by the desire to arrive at the truth. We,
therefore, cheerfully admit that Henry Clay can
be no longer considered obnoxious to the charge
of supporting emancipation.
The new Bank of Tennessee will go into oper
ation about the Ist July. The designation of the
Branches was to take place last week, and dele
gations from all parts of the Slate had been at
tracted to Nashville, to urge the claims of their re
spective towns. In reference to the paper to be
issued by the Bank, the Nashville Whig says—
“ The board will probably feel bound lo protect the
institution from all embarrassment, by making
their issues redeemable at a distant day, say the
Ist of January, but the notes will, nevertheless,
be placed on the same footing as though they were
made payable on demand, and will be redeemed
in gold and silver whenever the neighboring banks
shall resume specie payments. They will be ta
ken, too, for Eastern checks, on as liberal terms,
as ifissued in the ordinary way.
We copy from the Globe, the following letter
on the subject of the removal of the Cherokee In
dians. This is the form in which the application
is made to the States interested lo induce them
to consent to continuance of the Chcrokees with
in ihcit borders for two years longer.
Department of War,
May 23, 1838.
Sin: I have the honor to transmit herewith lo
your Excellency, a copy of a proposed arrange
ment with John Boss and other chiefs, and head
men of the Cherokee nation,now in this city.
Your Excellency will perceive in these proposals
that the Government, while it seeks to procure
the co.operalion of the delegation in the peacea
ble removal ot the Chcrokees, has carefully ah l
stained from eompromitting the rights and inter
ests of the Stales concerned in the execution of
the treaty. It is not supposed that it will require
so long a period as two years to remove the re
maining Chcrokees to their new homes west of
the Mississippi, but whatever term of time may
bo necessary to their comfortable emigration, the
Department relies upon the generosity of the
States interested not to press their claims so long
as they are satisfied that duo diligence is used by
the agents of the nation, to effect ibis desirable
object as speedily as practicable.
Very respectfully,
Your most obedient servant,
J. B. POINSETT.
To the GoVF.nNons of Georgia, Tennessee, Ala
bama, and North Carolina.
Two days Later from-Liverpool.
The ship Cairoll of Carrollton, arrivcu at
New York on the 25th Inst, from Liverpool,
whence she sailed on the 27th of April,
The following items which we copy from
the N- York Com. Adv., arc from the Liver,
pool Mercury of the 2Tlh April.
Parliament re-assembled on the 25th of
April, after the recess. The proceedings w ere
of no general interest.
In the House of Commons, a number of
petitions were presented against the bill for the
extension of copy right.
The attorney general said he should feel it
his duty to oppose the bill.
Mr. Sergeant Talford moved the second
reading of the bill, and supported it in a long
and eloquent speech.
The King’s dock at Liverpool, was to be
opened for the reception of shipping on the Ist
of May,
Tlte advices from Spain were highly favor
able to the cause of the Queen. The faction
of Dasilio had been dispersed—the expcditioil
into Upper Arragon had been entirely defeat
ed, and compelled lo retrace its steps into Na.
varre.
Several of the smaller Carllst bands had
been defeated, and the levy enmasse ordered
by Don Carlos in Navarre, met with the great
est resistance from the inhabitants.
The Buffalo Star says ;—“That two regiments
j of niggers are to bo enrolled, by the British gov.
I eminent, for three years, each ol 700 men, to bo
stationed between Fort Erie and Fort George, to
keep the expelled patriots from going hack to
their homes—no longer theirs. So it seems, adj fi
'he paper, the Coldstream Guards, and the Grena
diers, arc lo be sent home,—and their places oc
cupied by Black Guards.
The N. Y. Courier of the 25th Inst, slate
j that the Delaware and Hudson Canal and Dan
-1 king Company have recently issued notes, paya
j blc six months after date, which being very sim
-1 ilar to those payable on demand, have been in
many cases taken as such, causing thereby much
| dissatisfaction \ as they am not, of course, rcceiv
; able at the banks, and are at a very heavy dis-
I counts.
From our Correspondent.
Washington, May 25th, 183 S.
Ah soon as the House mol today a message was
received from the I’rcsident transmitting n com
munication from the Secretary of the Treasury
explaining how the objection aids extracts from a
New York paper, which was commented on
yesterday, were sent to the House along with the
Presidents message in reference to Foreign pau
pers. The President stales that if he had been
awaie of the character of these extracts he would
not have transmitted them, and now asks leave
to withdraw them.
The Secretary's explanation is that these ex
tracts were placed on the files of the Treasury
Department along with the subject ot foreign
paupers, and were communicated without a criti
cal examination. If their character had been
noticed they would not have been sent.
Mr Bussell, ofN Y., said, that notwithstand
ing this explanation, lie thought the resolution
proposed by his colleague, (Ogden Holhnan)
yesterday, that the exceptionable papers ho rclur*
ned to the Executive, ought to he adopted.
Mr Adams said that after the explanation
given, no one would he disposed to hlamojho
President or the Secretary. ]iut still ho thought 1
the occurrence not unimportant, and it became
the duly of the House to act with groat delibera
tion. It was apparent that these libellous papers
had not been communicated intentionally—hut
if they had been sent designedly he hesitated not
to say it would have been the grossest violation
of the privilege ol this House ever committed by
the Executive. Nor was it a matter ot imlifTcr
cnee to the estimable persons upon whom those
gross assertions had been cast. The document
had already been plinled by order of the House
and gone forth to the public.
Mr (Joiien Hoffman not being present, the
subject was laid aside till the morning hour
should be over, ns that gentleman had signified
his intention to present a resolution in reference
toil.
The bill from (lie Senate to continue the cor
porate existence of the Hanks of the District of
Columbia, was taken up, and by aid oft lie previ
ous question ordered to be read a third time ;
ayes 131, nays 41.
The bill then received its third rending.
Mr. Adams moved to recommit the bill, pen
ding which motion, the hour arrived forgoingto
the orders of the day.
Mr. Hoffman now rose and referring to the
Message of the President in reference to the ob
jectionable extracts spoken of above, expressed
his satisfaction so far ns the President was con.
cerncd, hut he maintained that the Secretary was
highly censurable in having ordered sucli libel
lous articles from a newspaper to lie placed on
the files of the Treasury Department. He re
gretted that the President had been imposed on
by his too great confidence in the Head ol a l)e.
parlmcnt.
Messrs. Bussell. Sibley and Mfniff.f. fob
lowed, taking similar views—exonerating the
President from blame, but holding the Secretary
highly censurable.
Messrs. Cushman and Atherton attempted
to defend the Secretary on the ground of being ]
hard pressed by business just now.
This argument was well answered by Mr. Har
lan of Kentucky, who showed the copy of the
Truth Teller with the Secretary’s endorsement,
ordering it to be placed on the files ot the Depart
ment. Ho therefore had time to read and ex
amine it.
After some debate a resolution was adopted
discharging the Select Committee from the fur
thcr consideration of those Extracts, and that
they bo taken from the files of the House and
returned to the President.
The remainder of the day was spent in tho
consideration of Piivate hills.
In the Senate after the presentation of a few
unimportant petitions and memorials and the dis
posal of a few,Private bills,
Mr. Link from lire special Committee on the
Oregon Territory, reported the bill referred to
them for the occupancy by the United States,
with an amendment.
The Hill was accompanied with a special re
port on the subject which he would ask to have
read on Monday next.
The Senate then resumed tho consideration of
tho bill making appropriations for tho Navy and
Naval service.
The question pending was on the motion of
Mr. Crittenden In strike out the appropriation for
tho Exploring Expedition (about 200,000.
Mr. Davis supported the motion, not from any
hostility to tho subject, but liccausc as lie argued
most strenuously, such was the want, of capacity,
promptness ami energy in the Department that
had charge of the Expedition, that Congress had
ro security it would ever he sent out.
The motion, was rejected Ayes 13, N aysjg.
The Hill was then read a third time and passed.
MB. clay’s kesolution.
On motion of Mr Hubbard, the Senate took
up the joint resolution introduced by Mr Olay.
of Kentucky, which was as follows.
“Resolved , &c. That no discrimination shall
be made as to the currency or medium of pay
ment in the several branches of the public reven
ue, or in debts or dues to the Government,and
that until otherwise ordered by Congress the j
notes of sound banks, which are payable and paid
on demand in the legal currency ot tho United
Stales, under suitable restrictions to be forthwith
prescribed and promulgated by the .Vecretary of
the Treasury shall ho received in payment of the
revenue and of debts and dues to the Government
and shall be subsequently disbursed in a course
of public expenditure to all public creditors who
are willing to receive them.”
Mr W KiisTEii, (Mr. Clay assenting) off-red
the amendment before proposed to he ollered by
him, which is as follows:
Strikeout the first clause of the resolution after
the enacting clause and insert,
That it shall not he lawful for the Secretary of
the Treasury to make or to continue in force any
general ordci which shall create any difference be.
tween the different branches of revenue as to the
funds or medium of pay merit in which debts or
dues accruing to the United Stales may lie paid.
Mr. Clay, of Ky., expressed his indifference
as to Which form of the first clause of the resolu
tion should prevail, that of Mr Webstf.ii having
the recommendation of having been already adop
ted by a large majority of the Senate (in the Sub-
TreasUry bill) Mr. C. argued generally in favour
of the resolution chiefly on the grounds of expe.
diency, necessity, and the base practice of the
Govei nment, and especially on the ground, as ad
dressed to the friends of the Administration, that
the Administration were now aiming to carry the
latter clause of the resolution in regard to bank
notes into effect, and that nearly the whole of Ihe
Senate had heretofore regarded and now regard
ed the current operation of the Treasury Specie
Order, as unjust and unpropit'uus.
Mr. Benton spoke at some length in favour
of the Specie Order, and against Mr. Clay’s reso
lution.
Mr. Clay, of Ky., asked the unanimous eon.
sent of the Senate so to modify his resolution
as to make Mr. Webster’s amendment a part of
it and to strike out the words, and shall be subse
quently disbursed (the bank notes) in a course
of public expenditure to all public creditors who
we.re willing to receive them. This omission, Mr.
* C. had found would render the resolution more j
' acceptable to some Senators, ami lie did not regard
the clause as specially important.
Mr. Cauioi n objecting, the modification could
not bo made.
Mr. Motutia spoke with great decision in fa
vour of the Specie Circular in its operations, past
present, and to come, and moved an adjournment
which was lost; Ayes 19, Noes 20.
On the suggestion of Mr. Mounts, Mr. Web.
stub modilied his amendment by striking out
“funds” and inserting money.
M. W’s. amendment so modified, was then
adopted without dissent,
Mr. Clay moved to strike out the words quo*
ted above, requiring bank notes to be paid to those
who were willing to receive them.
On the call of Mr. Whioiit, the yeas and
j nays were ordered, who also signified his design
| to move to strike out the whole remaining part
i of the latter clause of the resolution relating to
the receiving of bank notes,
On this a debate followed, in which Messrs.
Wright, King, Clay, of Ky., CnlhoUn, Cuthbert,
Morris, and Buchanan, participated, and without
any farther action on the subject,
The Senate adjourned, M.
Atlantic Voyages.
To show that the steam packets have not en
tirely llnown our sailing vessels in the shade,
the N. A. Herald gives the following table of
trips between Liverpool and New York.
teab. Sines. Dals.
18l(i Lancaster came home in 13
1830 Waller do do 18
1835 Wm Thompson do 17
Ho do went out in 13
1822 New England came home in 13
1828 Josephine do do 13
Do George Canning do 10
1834 Europe went out in 14
1836 Independence do 15
Ho do camo homo in 16
Ten Atlantic trips made in 140
From the Charleston Mercury.
liimk Convention.
At a. Convention of the Banks of Georgia and
South Carolina, held at the Hall of the Bank of
Charleston in this city, on Tuesday the 22d of
May, 1838.
Judge Colcock was called to the Chair, and
G A Tbeniiolm appointed Secretary.
The following gentlemen reported themselves
as delegates from tho various Banks.
Mr Anthony Tortcr, Bank of the Slate of
Georgia.
Mr John Phinizy, Branch at Augusta.
Mr Alexander, Branch at Washington.
Mr Asbury Hull, Branch at Athens.
MrJ Hutson, Branch at Ealooton.
Mr J Smith, Murine and Fire Insurance Bank
at Savannah.
Col Myers, Planters Danlc at Savannah.
Uaricn Bank at Darien.
Mr Ralph King, Branch at Savannah.
Mr John Moore, Bank of Augusta at Augusta.
Mr Botnar, Mechanics Bank at Augusta.
Mr Martin, Insurance and Banking Company
at Augusta.
Mr Asbury Hull, Georgia Kail Road Bank at
Athens.
Mr W G Lane, Mr Hunt and Mr Green, Bank
of Millcdgovillc and Branches.
Mr George Jewett, Oemulgoe Bank.
Mr Bartlett and Mr Griffin, Munrue Rail Road
Bank.
Mr Robert Collins, Bank of Havvkinsville.
Mr A .1 Bessent, Bank of St Marys.
Mr A B Davie, Bank of Columbus.
Mr R R Guyler, Central Rail Road Bank at
Savannah.
Mr Robert Collins, Branch at Macon.
Mr W W Starke, Bank of Hamburg, S C.
Mr Wright, Merchants Bank at Cheraw,
Mr M’Whilior, Bank of Camden.
Col Blanding, Commercial Bank Columbia S.
C.
Mr Chapman, Bank of Georgetown, S C.
Messis Ker Boyce, L M Wiley, James Ham.
ilion and G A Trcnholm, Bank of Charleston at
Charleston.
Messrs Cogdell, Howland, M’Carlney and Bir.
nie, Bank ol South Carolina.
Messrs Bavoncl, Robinson, and Memmingcr,
Planters and Mechanics Bank.
Messrs Lee, Gibbon, Jervey and Holmes, State
Bank.
Messrs Godard, Tobias, Winlhrop ahd Burek
niycr, Union Bank,
Messrs Colcock, Webb and Rose, Bank Stale
riSouih Carolina.
On motion—
Resolved, That the Hon. Asbury Hull lie ape
pointed President of this Convention, and that a
committee oflhrcc be appointed to conduct Mr.
Hull to tho Chair.
The President being conducted to the Chair
by a committee consisting of Gen Hamilton and
Messrs Boyce and Memminger,invited the atten
tion ofthe Convention to tho subject for which
they bad been called together, to wit. the Resump
tion of Specie Payments by the Buuksof Georgia
and South Carolina—wheicupon it was moved
by Col. Blanding and seconded.
That the President do appoint a committee of
13 to lake the subject into consideration, and re
port to this Convention.
This resolution being unanimously adopted, the
number ofthe committee was, on motion, increa
sed to 15, and the following gentleman appointed
by the President:
Col Blanding of Columbia, S C.
Messrs Boyce and Holmes of Charleston.
Mr Moore o( Augusta,
Mr Davis of Columbus.
Messis Porter and Cuyler of Savannah.
Mr Lamar of Augusta. \
Mr M’Whillor of Camden. N
Mr Starke of Hamburg.
Gen Griffin of Macon.
Mr King of Savannah.
Mr Lann of Milledgeville.
Mr. Phinizy of Augusta.
Mr Robert Collins of Macon.
Mr Moore submitted a consolidated statement
of the situation bf the various Banks in the State
of Georgia on the Ist April ultimo, which was, on
motion, referred to the committee of 15.
On motion—
Resolved, That this Convention adjourn to
meet again to-morrow morning, at 11 o’clock, at
St Andrews Hall.
(Signed,) G. A. TRENHOLM, Scc’y,
WEDNESDAY, May 23, 1838.
Read the minutes of yesterday.
Colonel Blanding, chairman of the Committee
of Fifteen, submitted the following report and
resolution:
The committee to whoom it was referred to
consider and report as to the proper time for the
Banks of Georgia and South Carolina to resume
specie payntent.
Respectfully report that in considering this
question they have directed their inquiries exclu.
sively to two points, viz. the ability of the banks
to begin and sustain such payments, and the
effects on the community, which a resumption on
anv given day may produce. In looking to the
causes of suspension, it will be found, that the!
i community, r a! her than the inability of the banks, j
induced tluU measure. The performance of their
legal duties on the part of the latter, depended
so certainly on a corresponding performance on i
the part of the former, that the incapacity of the ,
debtors of the hanks to meet their engagements,
deprived these institutions of the means of re.
deeming their circulation at the moment. Inn
short lime they might have collected their funds
so as to have lullillcd all their obligations, but in
doing this, they must have exacted with grout
rigor the payment of the debts owing them, and
have granted no new accommodations, however
urgent the cull for them might have been. So
conscious Was the great mass of the community,
that the suspension was indispensably necessary
to protect their host interest, that it received every
where, the countenance and support of our cith
zens. It has now been homo one year, and it is
proper to inquire, how much longer it should con
tinue. As far as the hanks are concerned, your
committee have no hesitation in deciding that no
advantage to them, however great, ought to in
duce them to continue the suspension a moment
after they possess the ability to resume, and that
they ought to make any sacrifice-, to enable them
to begin and sustain such resumption. An tide- i
quote and justilicuble motive for a longer suspen
sion cannot he found in any supposed profit which i
the hanks may expect to derive from it; hut if i
tolerated any longer, it must ho on the plea of ab
solute nnhlic necessity, and from a due regard to ;
the public good.
Your committee have examined the condition
of the several hanks of the two Stales, as exhi
bited in tho returns furnished them, from which
the subjoined abstracts arc lormcd; and they have
no hesitation in saying, that ifno other interests
were involved in the question than (heir’s, they
ought to resume at anco. if they do so, they
must sustain themselves in it; they must nut
risque a failure; and to enable them to lake this
high ground, there must he produced a heavy
pressure on the community. Solvent as all the
hanks are, were a general resumption to lake
place in tho two Stales at any time before our
other crops shall have come to market, and be
fore the hanks in (ho adjoining States shall have
resumed, there must he much pecuniary distress
and embarrassment produced by the demands for
payments and by withholding further accommo
dations, which this measure would compel, the
hanks to adopt. They, therefore, arc of opinion,
that an immediate resumption is forbidden by a
duo regard to tho public interest, and three other
periods have been mentioned as likely to meet
public expectation, and to ho advantageous to the
community, vi/,: Ist July, Ist November and Ist
January next. and your cornmiltce have no doubt
that cither the earliest «r the latest of the days
should be adopted. A more unpropitioOs period
than November could not be selected. The next
crop ol Colton will begin to come to mar ket in
October, and the means to purchase it, must to a
great extent, he furnished by the hanks. In the
accustomed course of business, the money must
be raised on the bills of the merchant, drawn
against the cotton at CO or 90 days, liclorc these
come to maturity, the hank notes paid for them,
will have gone into circulation, and have found
their way hack to the hank to draw out their spe
cie. If they discount to meet the demands and
wants of the communi y, their circulation in No
vember and December, will he larger than at any
other season of the year. With such a circula
tion, it would be suicidal to resume. If they
should ho required to do so at this season of the
year, the hanks have but one alternative which
cun promise them safely —They must retain
their present means, do nothing for the country
during the summer, and when the cotton crop
c®tes to market in the autumn, they mjjst leave
UF' merchants with what funds they
'elsewhere, to purchase it. Whatever pressutSi
such a course may bring upon the community,
the hanks must adopt it, if they arc required to
resume in November. Tho price of our great
staple must thus he most materially effected, and
great embarrassments must attend both the plan
ter arid the merchant.
Iluthy adopting a period as late as the Ist of
January, a very different state of things will he
produced. The money paid to the planter for his
crop, in the preceding three months, will in part
have found its way into the banks in payment of
debts owing there, whilst the hills of exchange
and notes given to procure it. will have been paid,
or will he daily maturing, and pul tho hanks in
funds to make new advances, or to procure spe
cie, should the demand for it exceed the supply
on hand. Resumption in November will leave
the planter without a market.—resumption in
January, will find him with half his crop sold,
his debts to a large amount paid, and the mer
chant prepared to purchase the other half at a
fair price. Your committee cannot hesitate in
deciding between the two periods.
Hut it may bo asked why not resume at once,
or in July? It must be recollected that the Hank
Convention which met in New York last month,
have decided in favor of Ist January: and we
would ask whether it would be prudent for the
Banks of Georgia and South Carolina to open
their vaults tor six months to replenish those of
all the other hanks of the Union except those of
.Now York, while not a dollar can he drawn in
exchange from them Should this course he in
sisted on, the consequence must he, that our
hanks must rcs'.rain the circulation, curtail their
discounts,and urge payments from their debtors
where they are least able to pay. The planter
can pay hut once a year, and January sui a him
best. 'I he mercantile part of the community are
belter able to meet their engagements at all pe
riods, But it must ho recollected that that com
munity has, in the late fire in Charleston, recei
ved one of the severest shocks ever felt by the
South. Its immediate violence has fallen on the
city, which has been the scene of this awful ca
lamity; hut iis effects are gradually hut generally
extending, and in some degree it must ho felt hy I
vthc whole commercial community of tire
Vi this stale of things, would it ho
the hanks ol South Carolina and Georgia;*hy an
ticipating the resumption hy our neighboring
Slates, to deprive themselves of the power of
granting to the sufferers indlilgcnco on tho debts
they now owe,or of giving accommodations to
save them from the pressure of this unexpected
calamity?
Your committee have, therefore, unanimously
agrecdjto recommend to this Convention the adop.
lion of the following resolution:
Resolved, That the hanks represented in this
Convention will resume the payment ol their
notes in specie, at or before the first day of Janua
ry next.
Being put to the vote, it was unanimously ado
opted.
Moved hy Colonel Blanding, s.jrJ seconded,
that the whole proceedings of this Convention,
together with the abstract* of the condition ot
the hanks, be published in pamphlet form, and in
the newspapers. Unar/imously adopted.
Moved hy Mr. Cordell, and unanimously adopt
ed, that the lhar.ks of the meeting he returned to
tho President, of this Convention, and to the
Committee of Fifteen, for the faithful manner in
which -heir respective duties have been dischar
ged.
Adjourned nine dir. | 1
•The abstract of the condition of the banks
j will ho published in a future paper,
~ |• —~ • ~ ~ ~~r mSmmmSSSm iniinr-mb—a
[From the ft nr \utk Daily Express, May 20. J
When will Mr. Buldlc resume specie payments,
anil when will Mr. Biddle establish a hank, un
der our new law, in this city, arc questions that
are constantly asked in our business circles here.
The belief generally is, that the batiks of Phila
delphia will shortly resume, and that Mr. liiddlu
will very soon establish a bank here. Our city is
suffering to a degree altogether incalculable for
the want of some agency or bank that will dis
count notes or drafts nut of the city. Until the
withdrawal of the United States Bank agency, a
note or draft payable in New Orleans, Mobile,
Natchez, Cincinnati, or indeed any port of our
wide spread country, was ns readily discounted,
and even more so, than a note payable in Pearl
street.—The consequence was that our merchants
ns freely trusted their goods to n good tirm resi
ding at any distant point, as they did to a person
residing in the city. This distant paper was pre
ferred hy the hank, because it was purely busi
ness paper, always paid up in full, and on which
they got a dilfcrcnco of exchange of J to 1 pc
cent. in addition to ihc interest. From the facili.
ties thus received our meichllitkl .were enabled to
transact almost any amount of business, their li
mit only being bounded hy their credit to pur
chase, and their ability to sell. How changed is
the scene. Now, notwithstanding all our banka
pay specie, and ate pursuing their regular and le
gitimate trade, there is not one, without an ex
ception, that will discount a note, draft, or bill
out of the city. Merchants mo, therclore, compel
led to curtail their business to one tenth of what
they formerly did; besides which they can only
trade on the actual capital they may have. Any
change that will give this city a hank that will
lake our domestic paper will ho of immense ad
vantage to the merchants and the country at largo-
Nakiiviii.s Monet Maiikkt.—The Nitsh
tillc Whig of the 10th instant has the following*
“The slate of the Money Market has undergone
but little variation since our last report. The
brokers’ rales for specie and funds Fast of Npsh
ville have tallcn a little, and the premium on N'cW
Orleans funds is also reduced.
We quote brokers’ rates on Mississippi Hank
notes at from 18 to 26 per cent, discount; other
funds as follows :—U H Blink 11 aI” pre ; Spe
cie 11 al2do ; Kentucky ha 10 do.; Virginia 1)
a 10 do.; N Orleans 4 a 0 do.; Indiana 9 a 10 do.,
Illinois 7 a 8 do.; Onrolinas and Georgia n ft
do.; Alabama par a 9 dis.; Small notes do* 12 dis
count.
The Union Bank is issuing twelve months
Post Notes payable at the Girard Bank, Philadel
phia.—This step will, of course, give much sat
isfaction to the depositors of the Bank, and place
its circulation upon the most commanding fool
ing. The notes are issued at par in redemption
of the obligations of the Bank, The Post notes
of this description issued hy the Planters’ Bank
since the 251 h April, amount to about 250,000,
and the demand still active. We have heard of
sales in Philadelphia at 8 per rent.
Heavy Cotton Chop.—Wo sot it slateil
that the wife of a Mr. Cotton, up iu the cotton
growing region, has recently presented her hus
band with three little Coftrtna all at one birth.
Wo hope that Mrs. and all the little Cottons am
doing well.
Orn Means op Defence. The Army and
Navy Chronicle of Thursday last contains a
: table prepared with great care hy Col. Crog
han, one of tha inspoctoro gcticoil of tin; army
when a rupture with France was anticipated,
in relation to armament required for the for
tifications of the seaboard. From this state
ment wc learn that there is a deficiency at the
forts with reference to the war armaments, of
1 5i 572 guns, 18 a 42 pounders, 180 carronades,
156 mortars, 2054 gun carriages, 162 mortar
beds, 1,258,229 shot for guns and carronades,
78,75 d shells for howitzers and mortars, 79,-
6ftl rounds of grape and canister shot, and
10,049,893 pounds of cannon powder.
For present purposes there is a deficiency
of 418 guns, 18 a42 pounders, 93 carronades,
57 mortars, 825 gun carriages, 64 mortar beds,
06,583 shot for guns ami carronades, 2072
shells, 9542 pounds of grape and canister shot
and 875.357 pounds of powder.
COMMERCIAL.
i.tvisnl'oor. cotton market, Arntr, 20.
The sales sinew Friday, amount to 35,000 botes, of
which 5,000 are sold to-day, Frices are advanced
!. per ll>. The arrivals am 4 vessels (min New York
2 (rom New Orleans, 2 from Mobile, 1 li-oiii Chur
leHfori.
Manchester, April 34.—Thera was a decided
appearance of improvement in our market yesterday.
1 ho demand for yarns, for most descriptions of prin
ting cloths,was hr tier than (or some weeks past,
and a trilling advance on previous rules was jn
soma cases realized.
bai.tiuore market, WAV 25.
Coffer. — We have no transactions ol moment to
report. The trade are well supplied for the present
and manifest no disposition toi peculate. 7'lie rata
heretofore prevailing could not now he easily re
alized.
Cotton. —We note sales of I'p'aml at II cts.
Howard street ELnur —The transactions continue
light and without any material change in prices.—
'I he wagon price ranges fiom iJIT/iO to ®7.73, accor*
ding (o quality, mid from stores, dealers generally
ask 88, at which rate sales have been made. Mar
kei firm
WAKM SPRINGS;
rjUIK proprietor of Warm .Springs, Meriwether
■ county, Georgia, takes pleasure in reluming
his thanks to his old patrons fir their v sits during
the walorrigseason, and wishes to make known to
them and the public generally, that he is now ready
fir their reception again llis baths have beert
made entirely new; and in point of comfort, con
venicnconnd nppearai re, ho ventures the assertion,
there are none to equal ihern in tlip United .States.—
The temperature of these Springs is HU degrees;
/rnnooi its mineral properties are muriate ol lime'
soda, magnesia, and an abundance of carbonic acid
gass. Its efficacy for removing chronic and cutane
ous diseases are so well known that he deems it. un
necessary to speak ol them forth r. Mis hotel and
out buildings have undergone repairs: and with
much labor ho has opt-ftecl a road on the lop of the
mountain, a distance of five miles, for carriages,
where invalids r.pd others cin enjoy* the purest of
air, and he delighted \v it li the mountain scenery, the
elevation being several hundred feet above tho sur
rounding Country. His Inblo will be furnished
plentimliy and with every variety that ran possibly
he obtained, nnd every exertion will be made to
plenao tiioso who may feel disposed to give him a
call. I). C. ROSE.
Meriwether co May 70. w4t
HCRIVEN SHEIII FF’H HA 1,14.
W1 LL be sold on the first Tuesday in July neif,
between the usual hours of sale, before the
Court I louse drmr In Jneksunhuro, one tract of land;
containing two hundred acres, adjoining la rids of U.
It. Donaldson, Mary Newton,nod William Sunders,
levied on ns thv property of William Usher, to sat
isfy sundry fi. fas. issued out of a Justice’s Court, in
favor of James Hurst, Hruiih & Solomons, and oth
ers. Property pointed out.by the plum ifTs. Levy
made and returned to me by n constable.
JACOB BUVAN, S.F.C
30,1838. vvtd
.ADM IN 18TB. A TO 510 A~I7TT
WILL he sold on the first Tuesday in August
next, at the lower market house in Arigustu.
within the legal hours of site,in pursuance of an
order of the Court of Ordinary of Richmond count v,
two negro Moves, named Ann and Joe, belonging to
the estate Green Ji. Holland, deceased.
NEAL HOLLAND, Adin'r.
mtty‘29 id MARY HOLLAND, Adui'i.