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i - 0 ~ WILLIAM 13. JOAES. AUGUSTA, CEO., THURSUAY IHORNIXG NS AY 81, I SBS. [Tri-w ccklj.]—V«l. SI. Ao. 05 ’ Published DAILY, TRI-WEEKLY AND WEEKLY, At .Vo. Jiroail Street. Terms. Daily paper, Ten Dollars per annum in advance. Tri-weekly paper, at Six Dollars in advance or seven at the end of the year. v\eekl> paper, three dollars in advance, or four at the end of the year. The Editors and Proprietors in tins city have doptod the following regulations ; 1. Alter the Ist day ut July next no subscrip tions wdl be received, out ot the city, unless paid in advance, or n city reference given, unless the name be forwarded by an agent of the paper. 2. Alter that date, we will publish a list ul those who arc one yearn or mote in arrears, in order to let them know how their accounts stand, and all those so published, who do not pay up their ar rears by the Ist of dan. 1839, will be striken olf the subscription list, and their names, residences, and the » mount they owe, publisl ed until settled, theaccout will he published, paid , which will an swer as a receipt. . . „ . 3. No subscription will be allowed to re mam unpaid after the Ist day of January ISJ ( J, more than one year; but the name will be striken oil the liHt, and published as above, together with the amount due. . 4. From and after this date, whenever a subscri ber, who is in arrears, shall be returned hy a post master os having removed, or refuses to take his paper out ol the post office, his name shall ho pub lished, together with his residence, llie probable place lie lias removed to,and the amount due; ami , when a subscriber himsell orders bis pape r discon tinued, and requests his account to be forwarded, the same shall be forthwith forwarded, and unless paid up within a reasonable tune (the facilities of the mails being taken into consideration, and the distance of his residence from this place) Ins name, andlhe amount due, shall bo published os above. 5. Advertisements will be inserted at Charleston prices, with this difference, that the ffst insertion will be 75 cents, instead of 65 cents per square of twelve lines. . , . , 6. Advertisements intended for the country, should be marked ‘inside,’ which will also secure their insertion each lime in tiro inside of the city paper, V and will he c harged at the rale of7scts per square f lor the first insertion, and 65 cents for each subse quent insertion. if not marked‘inside,’ they will lie. placed in any part of the paper, after the first insertion, to suit the convenience of the publisher, and charged at tne rate of 75 cents for the first in sertion, and 43? cents for each subsequent inser tion. 7- All Advertisements not limited, will be pub lished in every paper until f orbid, and charged ac - cording to the above rates 8. Legal Advertisements will be published as follows per square: Admr’s and Executors sale of Land or Negroes, 60 days, &5 00 Do do Personal Property, 40 ds. 3 'Zb Notice to Debtors and Crs, weekly, 40 d«. 3 25 Citation for Letters, 1 00 do do Dismisory, monthly G mo. 500 Four month Notice, monthly, 4 mo. 4 00 Should any of the above exceed a square, they will he charged in proportion. 9. From and after the first day of Jan. 1839, no yearly comracis, except lor specific advertise ments, will be entered into. 10. We will be responsible to other papers for all advertisement ordered through ours to be copied by them, and if advertisements copied hy us from other papers will he chaiged to the office from which the request is made to copy, and will receive pay for Ihe same, according to their rales, and be lesponsible according to our own. 11. Advertisements sent to us from a distance, with an order to bo copied b}' oilier papers, must be accompanied with the cash to tlie amount it is desired they should be published in each paper, 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.