Newspaper Page Text
1 1 ,nn !\' Iki hmovl Win. i
To Mi'iiry Clay, I’-ij.-Letter VII.
IS u—My last letter lias nlrcntly issued Irfftn
tlio I'tfSH 'viitl I ’* ns yet, I liml no opportunity
nt resuming my pen. *ln reading it ov-r, I
find myself dic-Miiraged from my las I:; (or I
perceive that I have ei d imlhmg that may {
not already have o-eurrt-d to I lie *■ mcliil mid .
enlightened, nothing that the tactions and
ma'ignvnt will nol reject, no limy I Ini' dm
ignorant n'ld prejudiced can icma le to on-'
derstaml. Goiwcious of this, I led dishear,
toned. Bn my Ims-ness, sir, is vvilliy<''i, and
my own party. I Will tint now perm Imy sell
to disparage die candour (o winch I have ap
pealed, by yielding I > a doubt whether you
will listen I" whit else I have to o I r. Nor
will I distrust tint' magnanimity (rid openness
of nature, winch so remarkably distinguishes
the political friends, whom I would warn from
the destruction, to which so many have Cft~ ,
petly devoted liininsolves. It is la l 'tl,e lainill
and scattered remiiiiiit of the true I hnrch ol
fc?t,ate Rights principles, that 1 would again ,
address myself, in the hope ol dispelling I r
•onto of the prejudices against the Banking I f
system, the lolly ol which I have lived lo see. I |j
Tins was Ihe aim of my hist Idler, in which „
I endeavored los/iovv, Ihal, as bctuceii lliO j.
different ime res Is of tho coinrnunily, whatever ,1
Joss might result from the adoption of llmt i
systcmrmusl, fmm the nature of the thing, ti
be borne by tlie moneyed interest, its creator
and director. Whether tlni' inlorcs', prover- ( f
tnally intelligent, sagacious and vigilant, re- p
quires the guardianship of the rest of the coni' (1
munity, to save it from sell destruction, is a w
question which Ido not propose lo discuss, p
J have no 1 hing lo offer to those "who think t!
(hat wisdom will dio with them;” and that ,|
they owe it to (lie world to leave behind them |V
a complete system of regulations, reaching
even to the mmnlost nfl iirs ol individuals, s
The men to whom 1 address myself arc nol (
ol that school of “presumptuous ignorance;’ i
but, even lo them, it may ho interesting to oL-< ~
nerve, how, in promoting tho general piospcri- 1
ty of the community, tho moneyed interest i
receives, (t hough nol an equal share of hone- i
lit) n lull equivalent for the sacrifice it makes i
to the common good. ,
It is a curious instance of the perversity of (
self deception, tliat. they who speak and act i
ns if the actual presence of gold and silver i
were the a uminum himum ol prosperity, and i
regard that as the only currency winch a wise i
people would permit themselves lo touch,
■base their system on principles which lake no
account of the intrinsic value of these pic
eious commodities.
But gold md silver have an intrinsic value.
'J’his is measured by the cost of production.
All tlie elements of value are employed in
producing them, and these enter into their
production with so much imilormily, im to
point them out as the best common measure
of all values.
They are valuable also, os being (It for the
use of man in various ways. For utensils
and ornaments, they are preferred before any
thing else. In this view, indeed, they are
not neccssortcs. If they were only valuable
fin such, then, like all other necessaries, they
■might lose a part of their value, when the de
mands of nn’itro were supplied. But the ap
petite, to which they minister, is one nol lia
ble lo bo glutted by abundance. JI grows by
feeding. There is no passion so craving and
insatiate as vanity, L is of thc family of iho
"Ilorsc l.ecch, ami cries continually, (live!
Give!” and will nol he satisfied. Hence, the
demand keeps place with the supply, however
that may vary, with a steadiness not less uni
form than that of the cost of production; and
iltcnco a permanency of value, by which all
other values may he measured.
But vanity itself must yield to Necessity,
and sacrifice a part of its gratifications to tho
wants of Commerce; and here the laws of dc.
mand and supply again display their opera
tion. Hence, if, Horn any cause, Iho pro
■eious metals are scarcer in one country than
another, their vahio will bo greater there. It 1
Will require more ol oilier things to procure
• hem, or in other words, the prices ol all I
tilings else will litH. I!, therefore, there were ,
■no substitute lor them, and if ihe amount in ,
circulation in each country boro unclmngea- ,
lily the same proportion to tho exchanges, pri- i
cos would every where bear the due ratio to (
each other, I hat ratio consists of such an <
excess ol price in the country whore an arti
cle is consumed, over and above the actual
cost in the producing country, as shall alford
a lair compensation lor the capital and labor
employed in exportation, and for the risk at.
tending it. It the dilfercnee is less than lies,
exportation will be checked. If more, the
capital of the consuming country will go to
llioiproducmg country, to contend lor a share
of this excessive compensation tor iho cm.
ploymontol capital. Thus money will ho im
ported, the p roll Is of exportation reduced to
their proper standard, and the due ratio be
tween Ibe componsal ion to the producer and
the price to the consumer restored.
ll any people could devise a cheaper, and a
polled substitute tor specie, to housed in their 1
domestic exchanges, they would have no need '
of specie among themselves. All they m ght
have on hand, would he sent abroad lo those,
who, luiv ng no such substitute, would give
more for it than it would be worth to diem,
lit that case, the exchangeable value of lies
specie m foreign markets would bo added to
die amount of their imports and comforts. In
short, they would find themselves ns much
i idler, as il they had had an equal amount of
superfluity in any other article.
Ties, though true, will not bo obvious to
many, because they arc in the hub'll d thin
king only of suuhaubstitmus as are confessed
ly imperfect.—There is but one perfect sub
sinnic, and that is period, universal and un
doublmg credit. Unfortunately such is not
lobe (omul, tor its existence would imply an
universal good faith, prudence, and proi ion
w sdout not given lo man. But wore the poo
pie of any country thus endowed, aa conlcs
sedly none is, they would hut use tho names
ol the common coins of other countries for
dm purpose of keeping heir accounts —but
their money balances might all bo seltlod in
foreign markets. There alone would money
bo wanting, and none would want it but tin;
importer. 1 o him, it would be enough to re
st n\c the pledge ot his customer to pay him,
in Liverpool or Havre a certain number ol
guineas or ol trains, (o be mis- d by die i xporl
of cotton or tobacco, or any other article. 11<
would be, at the same time, the common cen
tre of all the mutual exchanges of Ins custo
mers, and credits with hint would balance ul
transactions that could not be settled by sim
ple tmr’cr.
ll will bo seen that 1 am supposing an ini
possible case, and it is because the case ii
impossible, Unit specie or tiny o'hor circula
•mg medium is necessary. But lam no
sure dial tho Ime philosophy ot thesnbjec
would not leach us to invert Iho order ot dn
eoimmm form of speech,-and to say llmt spe
tt,u ' its represpiila'mv aie but sub.-m
lutes lor credit, as n should be, and ;n i
81 ,y "'""hi bc.weic man neither sliori ;■ -b
ted, ignorant nor wicked. In piopoiuou'a
lii tl.«n .ter ol any comimmny m nnrkc lby
11l Hi' I 111 I I I t o cm ' IiIM.'SS I'l I lie llist illltc
lor credit, which they find tlmiiisolves con
.■lra uni |.i imo. If no unn can lie ('mind who
ivi!: inisi iiny other, then the n lual prcpcnee
olVpeeie in nil purcbn -;s will bo indispnnsa
hie. Tie ■ is lie; iniicli c: >V< I ;<! I ' iltlcil age.
I It (hero ho porno who may ho trusted,
I though not uiiiversaMy, then ho who is with
out iiionoy, rind cannot, command the conti
il ncc of him w.th whom he denis, must, look
for some rcspnnsibl; man who knows him, mid
procure Ins pledge fur Iho performance of his
eiiongoincnts. This is the system of bonds
with security, and the harvest of sheriffs nnd
pettifoggers. II there he any who deserve and
command universal confidence, and who will
lend their pledges to those whose solvency
they personally Know, llier these pledges will
begin to circulate ns a medium of exchange,
and thus will introduce the banking system
at the same time, in the direct intercourse be
tween Iho persons thus distinguished for inte
grity and wealth, the process of exchange
wdl ho carried on without the intervention of
any medium or pledge but their own. This
completes the credit system, of wlrcli the
hanking system, though its convenient instru
ment,forms hut an inconsiderable part. There
is probably not a haberdasher in London who
loes not handle more specie and bank paper
Ilian Huron Rothschild. In nil large transac
tions at. tins day, neither is used.
Now each of these stages of approximation
0 a system of perfect credit, has, in its appro
iria'o degree, the effect of rendering super
loons a portion of that specie, which ot.licr
ivse would have been indispensable. This
lortion, then, is added to the superfluities of
.lie community, and its intrinsic value is ad
ded to the total of exports, imports and coin
forts.
On the contrary, let a people full back from
such approximation to universal confidence,
toward the opposite extreme of universal dia
trust, and it will presently bu seen that an
amount of specie before unnecessary, will
become indispensable. This amount will be
added to the wants of Ibo community, and
must bo supplied by a corresponding deduc
tion from their comforts.—For want of the
customary competition, all the productions of
the country will fall below their proper value;
the price lo the producer in the domestic
market, will no longer bear the duo ratio to
lli.it paid by t he consumer abroad; and foreign
money will come in, instead of foreign com
forts. Here the intrinsic value of the money
limn imported to supply the purposes of a cir
culating mud urn, is lost lo the community,
and the amount, of specie brought into the
country, will be the exact measure of the
amount, of necessaries and comforts and luxu
ries unavoidably dispensed with.
It is interesting nnd instructive to trace
tins result to its linul cause. The elements
of credit are prudence and good faith. It is
sonic defect of these that renders the impor
lation ol specie necessary, ami the value of
the sum imported is the measure of the self
inflicted penalties incurred by a contempt of
either of these cardinal commercial virtues.
Do you remember, sir, sflsop’s story of the
dog whose foolish vanity mistook for a badge
of distinction the clog which was fastened
about his neck to keep him out of mischief ?
1 am aware of no oilier instance of presump.
I nous folly comparable lo that of men who,
having forced (ho community to tax itself to
the amount of millions of specie for the use
ot commerce, glory in their scheme, and boast
of the importation as an honor lo the rulers ol
the laud.
If, then, it be practicable that the laws and
institutions of any community should he made
to lend their aid lo the teachings of experience
and to prevent this offence and avert this pen
alty, should not the praise of wisdom and Jus
tice he awarded them I And what then shall
we say lo laws and institutions and rulers,
which beguile the people to ('rime, and then
urge the avenger to demand his victim j
so content, rest not (ill they have involved (he
innocent in one common ruin with (ho guilty ?
I think, sir, that commercial men will not
disci dm this account of the Credit System. I
think that the moneyed interest will accept
this plea ollered on it s behalf, when called up
on to show cause why it should not he placed
under tbc guardianship of the hard-iuouey sys
tem. They arc not insensible of the wear and
tear of capital in the service of the commer
cial system, but they arc conscious, that, in the
advancement ot their common prosperity, they
receive more than aif equivalent, The differ
ence between them ami other interests is this:
They purchase this advantage at uprice. The
rest enjoy it equally at free fust.
If these ideas are w 11 founded, they imply
a compliment to the sagacity of our rulers,
w hich it would he unjust to williold. In their
war on the Credit System, they have begun at
the right end. The foundations of that sys
tem are prudence and good faith ; and they
first tempt the people to imprudence, and then
debauch them by corruption. Wc have board
for the first time in the history of modern Com
merce, that our merchants are unfaithful to
their country, in fulfilling their engagements
abroad. For doing this,they have been rebuk
ed in a tone of authority, by one whom 1 ib:
l not name, because he belongs to a certain set
| w hom I will never honor so far. Mr. Calhoun
may lake il as a tribute of respect to one win
is not yet “less than arch angel ruined,” dial
I have singled him out from the gang of swim
diers and sharpers, with which he lias chosci
to identity himself. The consummate mso
lencc of that other official has alone provoker
tills notice. They to whom he addressed hi;
admonition, paid him less attention. Rut now
it seems that the authority of the licneral (Joy
, eminent is to be brought to bear on die trails
actions of individuals, in the way of pains am
penal ies. the precedent is set in the mallei
of the notes of (ho old bank of the Unitoi
Slates. The right to meddle wi'h the nflair;
of a legelimale State (.torpor,tion, is based,
presume, on Mr. Calhoun’s new maxim, “Uni
1 whatever we use as monev is money," and i
I there ore sub ject lo federal legislation. If so
- tlu- next step may he to luvor us with souk
- penalties against the dealers in shin plasters
• imposed h\ federal authority. The same pi-in
r eiple would legalize the condemnation of Haul
t notes, other promissory notes and bonds, am
i the denial ot all remedy on them. The Slab
f t'oiirts might still indeed, remain open to tlu
• creditors. Rut llie Force Rill (lo which i
• scorns Mr, t'allionn is now reconciled, as In
, do os not attempt Us repeal, now that hii
i friends, the true Slate Rights party arc n
■i power,) affords a precedent tor the removal o
e such cases, by rerliorari, to the federal cotirti
- where these mischievous symbols ol credi
- might meet their just doom.
II Rut, alter all, men of old fashioned honest<
' might ami would trust each other, and men
verbal promises lo pay might still, ns they ik
l- now, perform ba’l the business ot tbc country
■ s The only radical measure would bo n
bring the arm of criminal Jurisprudence p
,l bear lien; 100, and lo punish, as for misde
meanor,all who might buy or sell on credit, o
” make or take promises, or deal on any bu
’’ the plantation plan, of‘-here's one, and there'
'■ t’other.” Tins is the point where the war c
11 the credit system should be pressed. A
.moults on tlu- Ranks are vain, ns long ns cicd
• i j unimpaired. Rut introduce the degt.t 1m
#
and (]»• noruliz mojims of iloppotiem, and
there id nn end us lank paper. Men of
wealth must thru hegii to hoard, and that
they may hoard seenrev, they must agree to
attach a high conventioial va'uo to diamonds
and the like. They tqzy thus elude alike the
rapacity of the tyrant, and the noh, by conceal-'
ing princely wealth in t!io patches of a layered
garment. Until th sid done, credit will pre
vail; and the evidences of debt will he trans
ferred, and the symbols of credit will perform
the offices of money. This is the true charac
ter of Bank paper, and though Mr. Calhoun
and Mr. Webster should unite to call them
ni'rioy, they arc not money. They belong to
the head of contracts, and their validity nn 1
enforcement depend on thctnunicipal sover
eignty, which the Federal Govennaenl is not.
ilelorc I dismiss this subject of a Bank of
the United (States, permit rne to odor one
moro remark. I have suggested a plan which
I banc ven'ured to recommend to my politi
cal friends, as a means of keeping awake that
watchfulness over the Treasury, and that jea t
lousy of federal power, which have so long
slumbered. A pecuniary interest is prover
bially ajealous in'erest, and men quarrel about
money, who agree about every thing else.
To yon I would add, that a Bank of the
United Slates, representing the pecuniary
interest of all the Slates to the extent of fifty
millions, will draw them together like flies to
a drop of honey. They may quarrel and light
over it, but they will never separate while ibe
least scent remains. "Dams sum non (Jdis
pus,” but 1 must be permitted to believe that
such a Bank, judiciously organized and skil
fully managed, would be no small security at
once against consolidation and disunion.
And now, sir, having said all this, I beg
leave again to assure you, that I am not in 1
love with this pi m. Were it. in my power to
establish it, and were I free from all conatilus
tional scruples, I should I rctnblo at the thoughl
of a new experiment on the currency and
prosperity of the country. To deal frankly
with yon, I have but used this suggestion as a
text fur my remarks. Jt has served rne as a
sort of mould to give Turin and texture to ideas
which otherwise might have been unintelligi.
b!o. If, by this means, I have succeeded in
presenting them distinctly, it will have served
my turn.
A Friend op State Rioiits.
I -IJB 1 1 1 . . . I. "■
CHRONICLE AND SENTINEL.
AIJUISTA.
Tuesday Morning, July 17.
STATE EIGHTS TICKET
FOR CONtfREMS.
WM. C. DAWSON,
Jt. W. HABERSHAM,
J. 0. ALFORD,
W. T. COLQUITT,
E. A. NISDET,
MARK A. COOPER,
THOMAS BUTLER KING,
EDWARD J, BLACK,
LOTT WARREN.
The citizens of Savannah met on Thursday
last to offer a tribute of respect to the memory of
those of their fellow citizens who perished on the
awful night of the Mil) of Juno. A very touch
ing and appropriate address was delivered by the
Rev. W. Preston, upon the occasion.
The U. S. Bank Bonds authorised to he sold
by the recent Act of Congress, amount to about
six millions of dollars. The proceeds will go in
to the Treasury, to aid ill defraying the expenses
of Government.
Il is staled that more bills were passed dating
the last three days of the late session of Congress,
than in the whole of the rest of the time together!
We sec that two of the steamboats which run
hettveen New York and Providence have had a
hard race—having made the trip to Providence
in 13 hours, and coming in neck and neck.
The Philadelphia, Wilmington and Baltimore
Kail Road Company has declared a dividend of
four per cent.
The trial of William Stewart, of Dorchester
county, Mil., charged with the murder of his fa*
thcr, which occurred in Baltimore, a shoit time
ago, has been, on motion of his counsel, postpon
ed until October next.
There will ho an almost total eclipse of the sun
on the ISlh September throughout the United
Stales. It will be the last central eclipse seen in
' the United Stales until tiro 30lh May, 1851,
which will he also angular. The next total
eclipse of the sun will bo 7th August, 1801.
i The Wheeling Times of the 7th states that the
engineers have finally commenced locating the
( Baltimore and Ohio Rail Road at that place, and
, were progressing eastward with all warrantable
i despatch.
Baltimore Tobacco Trade,—There are
now loading in the port ol Baltimore, four vessels
1 hound to Bremen, two to Rotterdam, one to Am
r ■ sterdain, and one to Marseilles, each of which
* 1 will take an average cargo of 400 hhds. of tobac
| co, or about 3,200 hhds. in all.
j From Florida.
, The steamer John McLean, arrived at Savan
■' nation the 13th, from Black Greek, B. F. The
’ fallowing particulars were furnished the Editor
; of the Georgian, by Paymaster Stewart, of the
1 Army.
Gen. Taylor, on the 29th June, left Garey's
Perry for Okefonokee Swamp, and bad ordered
I six companies—four ol Infantry and two of Dra
-1 goons—to repair forthwith to the Mineral Springs,
s and if practicable at this season ol
i the year, he intended to penetrate the Swamp,
t but if not doomed praeiieable, will establish posts
s near and around the Swamp, so as to protect the
lj inhabitants of Georgia and Florida from the in
cursions of the Indians.—Gen. T. has oidercd
, supplies np the St. Marys to Trader's Hill, and
\ also from Tampa Bay to the Mineral Springs on
the Suwannee. Hu arrived on the 2d hist, al
’ Charles' Ferry on the Suwannee, from which
place he would proceed with his stall to examine
’ the vicinity of the Swamp. Col. Harney, with
’ a detachment of Infantry and Dragoons, icccntly
visited (by steam boat) Fori Lane and sloppei
I al Fori Mellon on Lake Monroe, but disenverei
* no sign> «l Indians. Fort Mellon and othei
s posts nn the Si. Johns, evacuated by the Troops
II arc still standing.
II Fid. 11. eonlempl.ilrs, al au early day, mi ex
it j elusion with four companies of Dragoons lu thr
J Ouitlilacoochee, au a iceonnoitcnng party.
Frumthe N. O July 13.
LiUest Loin Texas,
'J'hc steam packet Columbia, 48 hours from
Galveston, arrived last night at 12 o’clock. Wo
are indebted to the politeness of Copt Moore for
our regular tiles, from which wo learn a rumor
wav current in Houston, that the merchants of
Malamoras, Vera Cruz, and Tampico had peti
tioned the Mexican government to effect nn ar
rangement hy which goods could ho received from
the United .States via Texas.
It is aUn rumored that England had formally
recognised the Independence of Texas, and that
a treaty of commerce had been entered into,
which was ratified and signed hy President Hous
ton on the 4th July.
A party of about 100 Cumanche Indiana visit
led the camp of eight or ten surveyors, on the
22d ult, and under pretence of friendship, suc
ceeded in stealing the horses of the surveyors.—
Mr Campbell and his party pursued, and overta
king, were fired upon hy the Indians, and Mr.
Campbell immediately killed; captain Cage was
also wounded, hut made his escape.
I’ram the Matagorda Bulletin we learn that on
the 22d ult., a parly of 150 Mexicans from Mala
moras and the Rio Grande, committed some de
predations upon the properly and persons of the
ritizens residing on the San Antonio and the
I.ahacca. They attacked seven carts of goods
worth several thousand dollars, and took them to
the up country. In the renconter one naan was
killed, and another so badly wounded that his
life is despaired of.
The bun. Alice Laßranche, (of Louisiana')
Minister from the United Slates to Texas, and
Robert J Kcr, Esq., Secretary ol Legation, arrived
last night in the Columbia from Galveston.
The U S sloop of War, Vandalia, was off
Velasco on the 9lh inst.
From the TV. Y, U7ug, July 12
Latest From France,
The lino of packet ships Sully, Capt. Lines, ar
rived yesterday morning from Havre. Bho brings
us files of Havre papers to the morning of sailing
and Paris of the Ist ult. Captain 1,. sailed on
the 3d of June. We copy the following abstract
from the Star of last evening.
Dissensions continue to tcign among the Car
lists at Onala, Villabuna. Don Carlos, in order
to gratify the Navarrcse and Dasqucs, has made
a decrcce obliging Castillians and strangers to
takeuparmes nndoiganise into battalions. Man
agorri, in the French territory, continues to enrol
the Carlist deserters. Some 2ar 3UO of these
deserters arc at Sebastian and Passage, under
l.ord Hay.
Mr. LeConlc de Tournon is named to accom
pany Marshal Boult to Victoria’s coronation.
Doelcur Clot-Boy, a Frenchman, is named mem
ber of the legion of honor for his services during
the plague of Egypt.
The English government arc reported to have
purchased the city o( Aden on the Red Sea.
J.ouis Phillippe is residing with his family at
his favorite scat of Ncuilly, near Paris.
The conversion of the rentes seem to drag in
the Peers, and Count Mole, fearing difficulties al
so in the Chambers, ptoposcs to make a new
batch of the former and to dissolve the latter.
The grievances of the San Domingo claimants
were to be brought before the Chamber of Depu
ties June 2d.
Gen Tacon, late Governor of Cuba, had arriv
ed at Bordeaux from Havana.
Mr. Emanuel Las Cases, just returned from
his commission to Hayti, has been named Coun
sellor of .State Extraordinary. He is also a mem
ber of the Deputies.
The Duchess of Braganza, Empress Dowager
of Brazil, arrived at Munich on the 25th inst.
It is rumored that the Emperors of Austria and
Prussia will meet the King of Russia at Prague,
in July.
The Duke of Orleans gave a dinner, the 29th
of May, in honor of the anniversary of his mar
riage.
There are 31 bills still unacted upon before the
French Chambers. The Credits demanded of
the Chamber arc eleven hundred and seventy-four
millions or banes, and 103 j millions addition for
public works. Filly Tour bills of importance have
been passed.
The Queen of Spain on May 23J, reviewed at
Madrid 20 squadrons of Cavalry and 17 battal
lions of infantry. The young Queen and sister
were received with enthusiasm. Fczenzas, min
ister from France, had arrived.
The hereditary Prince of Orange, it is said, is
about to espouse a princess of Wirlomburg. The
Emperor of Russia lias created the Prince a Ge
neral in his army.
A company has been established in London
with a capital of 300,000/. for a steam communi
cation with the south of France and Italy. 'J’hc
ships to be ot the first class for freight and pas
sengers, to go from London to Marseilles in 11
days, 23 to Naples, <Stc.
M. Thiers lias gone on a tour to the Pyreiu
nccs.
Lislz, the young violin player, is making much
sensation at Vienna.
M. de Perrcy, Secretary of Talleyrand, has de
nied the assertions iy the London Times respect
ing the papers of the deceased piince.
Mrs. Marianna Starke, the English authoress,
is dead at Milan, aged 76.
A foreign merchant has been arrested at Bor
deaux on the charge of being the money agent of
Don Carlos.
Dr. Bowring is at Smyrna endeavoring to ef
fect on the part of the English government and
East India Co. a project for a railroad to be con.
structed by them from the Red Sea to the Nile,
Abdel Kader is carrying on the war with seve
ral of the interior As rican tribes.
The Duchess of Angouleme and Duke of Bor
deaux have been on a tour to Istria.
Dr. Aubert, the traveller, has returned from
Abyssinia.
There were recently 50 arrivals of ships at
Havre—cargoes valued at 20 millions francs.
The school at Paris for the Arabic, Persian,
Turkish and Armenian languages, is now com
pletely organised.
Marshal Valloo continues indisposed at Al
giers.
The Journal of Havre of Juno 2d, alluding to
the success of the English steamships to Ameri
ca, doubts not, from the rumor in circulation, that
a company for a line of stcamvcssels will be es
tablished between Havre and New York.
Col. Drift and Lady.
Wo have perused a letters from Mr. G. B.
Lamar, dated Augusta, July 8, in which ho says:
T arrived here from Wilmington, by the Rail
Road, last evening', and am grieved to say, that
the circumstances within my knowledge too cer
tainly indicate the loss of Col. Britt and his lady.’
From the tenor ol the letter we no longer doubt
that Col Britt was on the Pulaski, and consequent
ly we may not hope',to meet him again;—thus
has perished one of our mos worthy and esteemed
citizens.— Columbus Herald.
BiekncU’s Reporter, speaking ot the meeting
of the Philadelphia Banks, at which it was resolv
ed to resume specie payments on the Ist of Au
gust, says :
“The banks that voted against the resumption
. wore ihc Bank of the United Stales, the hank ol
i Pennsylvania, the Bank of North America, and
the Bchuylkill Bank—the three first supposed to
I ho amongst the soundest and ablest, if not the
I soundest and ablest of our banking institutions
The policy ol the course adopted by these insli
, | lotions, we w ill not now attempt to analyse.
i Flic rcsuli is l-i us highly gratifying, lor we bp
. j hevc that the great m;i- of the people of both
j political patties, would have expressed gieat dis
satisfaction, had the genetal suspension been pio
tracled much longer, It is possible (bat tome
lilllo presuic will tic A ll lor a short time prior anil
subsequent lo lo the Ist of August, as the banks
may think it nocesssary to lo loss liberal in their
discounts. The restrictive feeling will, however,
prove hut momentary, fir money is in very little
demand just now, and is not likely lo he, until
towards the fall. Onr merchants and wholesale
dealers, moreover, have for some time past been
engaged in the laudable work of curtailing their
business, and gelling their all’airs into a managea
ble condition. The present moment, therefore,
strikes us as being particularly opportune for a
general resumption ; and wc doubt not that the
resolution alluded to above, will speedily be re
sponded to by every solvent Institution in the
State. Indeed, many are of the opinion that, not
withstanding the vole of the IJank of the United
States again-t the Ist of August—that Bank now
that th e first has been recommended will take the
lead, and proceed to the payment of specie forth
with.”
Bisknell’s (Philadelphia) Reporter of July 10,
says—We understand that the delegates of our
City and Country Banks will hold a meeting,
when a committee, recently appointed for the
purpose, will make a report in relation lo the
propriety of holding a Bank Convention in this
city. Wc learn that the 23d inst. will bo sug
gested as the proper time for holding such a
Convention, and that the Banks of the neighbor-1
ing States—Virginia, Maryland, Massachusetts,
Ohio, and the District of Columbia, will be invit.
ed to send delegates to the proposed convention.
It is our impression that this Convention will
recommend the Ist of August as the proper time
to resume Specie Payments in full.
The Philadelphia Inquirer of the 11th, how
ever, regards the question of resumption on the
Ist of August as uncertain. The editor says—
‘‘We regret to find that soma doubts still exist
as to a general and early resumption of specie
payments on the part of the Banks of Pennsylva
nia. It should he remembered that the recom
mendation recently adopted at a meeting in which
a portion of the hunks of the city and county
were represented, was merely a recommenda*
lion, not a positive resolution or determination,
and that even this was not adopted with any great
unanimity. The ayes amounted to bul'rea; and
when we recollect the number of the monied in
stitutions in this commonwealth, ami the strong
apprehensions still entertained with regard to the
course of Ilia southern and western banks, we
fear that this vague recommendation, and by
such a small proportion of our hanks, will not
he productive of the consummation so devoutly
wished.” ♦ » » * *
“However, earnestly a resumption may bo dc.
sired, it is quite evident that the matter has not
yet been ultimately determined upon. This is
had nows, but still wc feel bound to give it pub
licity.”
A letter from Philadelphia, of Monday’s date l
says— *
A Bank Convention is lo be called here, to be
got together as soon as possible—say in about two
weeks. It is believed they will fix upon a day of
resumption. Whether it will lie Ist Aug. or Ist
Sept, it is difficult to say, perhaps not till October.
The Philadelphia U. S. Gazette of the 12th.
has the following:
Meeting ol the Banks.
At a meeting ol the associated banks of the city
and county of Philadelphia, held on Wednesday
evening, 11 th inst., the following resolutions,
was adopted by the board, viz;
Resolved, That the Banks of Boston, Provi.
donee, Baltimore and Richmond, and such others
as the lime admit of, he invited to meet the Banks
of Philadelphia in convention in this city, on
Monday, the 23d instant., lo consult upon the
measures to he adopted for an early and simulta
neous resumption of specie payments.
Resolved, That the committee be instructed
to communicate this resolution lo the hanks in
question, and lo make the necessary arrangements
lor the meeting of the convention.
It was also resolved, That it he recommended
to the several banks of the city and districts, to
appoint one or more delegates lo represent them
in this convention.
The association then adjourned sine die.
Banka and Bank Notes.
The Act on this subject received the approval
of the President on the sth instant, ji is as lob
lows:
AN ACT lo modify the last clause of the fifth
section of the doposite act of the twenty-third
ot June, eighteen hundred and thirty six.
Jie it enacted by the Senate and Rouse nf
Representatives nf the United States of Amer
ica in Congress assembled, That the last clause
of the filth section of the act entitled “An act to
regulate the deposites of the public raoned,” ap
proved on the twenty third day of June, eighteen
hundred and thirty six, declaring that the notes
or hills of no bank shall bo received in payment
of any debt due to the United Slates, which shall
after the fourth day of July, m the year eighteen
hundred and thirty six, issue any note or bill of
a less denomination than live dollars, shall he, and
lire same is hereby, so far modified as that the in ■
lerdiclion as to the reception of the hills and
notes shall not continue ag dust any bank which
has, since the said fourth day of July, in the year
one thousand eight hundred and thirty six, issued
bills or notes of a less denomination than five
dollars, or which shall issue any such lulls or
notes prior to the first day of October, in the
year eighteen hundred and thirty eight, but that
from and after the said last mentioned day, tho
bills or notes of no hank shall be received in pay
ment of any debt, due to the United Stales, which
bank shall, after that date issue, re-issue, or pay
out any bill or note of a denomination loss than
live dollars.
WM. R. KING
President of the Senate protein.
JAMES K. POLK,
Speaker of the House of Representatives.
Ari’iiovEn, July sth, 183 ft.
M. VAN DU REN.
The Weather.
As melting ns the temperature, has been the
past week, the thermometer has not exceeded 91
or 93 degrees in our Reading Room.— Savannah
Georgian of the 11 th inst.
Yesterday at 3 o’clock, P. M., the thermome
ter in our office stood at 95, which is the greatest
degree ol heat yet experienced,— Baltimore Arne
rican, July 1 ~th.
At the Exchange yesterday, the thermometer
hanging at the north window, exposed to the air,
stood, at 1 o’clock, P. M., at 100; the one hang
ing by the reading room door, in the large saloon,
stood at the same time 93.— Philadelphia Herald,
July 1 llh.
At 6 o’clock this morning, Lynch & Clark’s
thermometer stood at 78; at half past seven, 80;
at half past IP. M. 92j; which is Ij dogreec
higher than at the same hour yesterday, and j a
degree higher than at any lime yesterday. Only
5j degrees more, and it will be up lo blood heat
in the shade. Two o’clock.—Lynch & Clark’s
thermometer now stands at 93 in the shade.
.V. V. Journal of Commerce, July 10 th.
Anti Aiiolitiux Movements,—The New
England Conference of the Methodist Episcopal
Church, and the Maine Conference of the same
sect, have adopted a plan of pacification, by
which the members are to abandon all participa
tion in abolition coiiveniions, societies or publi
cations, as connected with the Church. The
New Jlampsliiro Conference, now in session, will
probably follow their example. The New Yoik
Conference has required its members to retrain
from the subject altogether.
rpt . r , Shipwreck,
i *° !. n 5. farol "“‘’ Driver, arrived at Boston—
wlien oil Nantucket, .aw a ship ashore, on the
south shod, with n signal of distress (lying. Cap.
1:1111 Driver immediately stood in, and at 8P M *
found her to be the ship Nathaniel Hooper, Cate
tain Bognrdus, from Havana, bound to Boston
with a cargo of upwards of 3500 boxes of white
sugar, intended for the Russian market. Previ.
ous to being boarded by the Caroline, six hun
dred boxes ot sugar had been thrown overboard
in the hope that she would float off. Captain
Driver took from her two foreign gentlemen, and
the lady of one ol I hem, who were passengers I
and who had intended to proceed in her to Europe!
Death of Colonel Knapp.—We ore con
cerned to announce of the dea'h of Colonel
Samuel L. Knapp, recently of this city, who de
puted this life at Hopkington, Mass., on Sunday
morning. The name of this gentleman has long
been familiar to tbc reading public, and he
has always been greatly esteemed in private life.
—.V. T. Com. Jhlv.
■— , |
cammL:
HAVRE COTTON MARKET, MAY 31.
The transactions in this article hnvecomimted on
a limned scale throughout the last eight days
They have generally, however, taken place without
reduction in priocs.
The sales embrace 3306 bales, consisting of 1115
bales New Orleans, of which 10 hales of low qual
uy, at f 74,311 bales 178 to f BG, 409 at f 87 to f 95
270 at f9Bto I 105, and 03 bales good, at f 112 50—
047 Mobile at f 77 to f 98—1484 Upland, of which
a I of low quality, at f 74 and f 70, 592 at fBO to fB6.
809 at ( 87 to f 90, 57 at f 102, and 82 flne at f 107 50
—lOO Marnnham at f 96 50-and 10 Madras atf SG,
the whole duty paid.
The supplies received, on the other hand, have
amounted to 9193 hales, viz : 6517 bales U. Stales
cottons, 2646 bales Brazils, and 59 bales other sorts.
.r , lm,cs Lou isiana 83 50 a 105 f; 781 do
Mobile 78 a 94; 43 do do at public sale 66 a 74: 838
do Georgia 82 5) n lOlf. 50c ; 64 do Florida 88 a
951; 37 do Virginia at Public sale 72 a 80f; 128 do
Pernambuco 1251*.
Juno 3.—The sales to day were 1144 bales, os fol
lows:—100 bales Louisiana at 95; 60 do 90; 7!
88; 100 Mobile at 98; 43 do 97; 93 do 94; 106 do 92-
100 do 90; 100 do 89; 51 do 86; 123 do 84; 23d083 :
JO Georgia, 56 50; 33 do 86; 61 Florida 82.
June 3.—The demand has been principally for
Switzerland, and Ihe sales include for the last three
days 5080 bales, viz on the 31st ult. 1289 bales •
1500 on the Ist hist and 2300 on the 2d.
MARINE INTELLIGENCE.
SAVANNAH, .Inly 14—Ar. «tnp Auburn. Tilrfey, v
rebr Rebecca, Neill, Norfolk; steamboats tJeoreia
Gould, Augusta. Cbatlinm, Wray, do; John McLean.
Adams, Gan ys Ferry; D W St. John, Wieki,Charleston
Went to sen, ships Sterling, Stinson, Liverpool: Lan-
CBSluiv, Alexander, do.
CMARLJvVTON, July 16,—Ar Saturday, steam •
et Neptune, Penn oyer, w Y, 7m
Arr steamers John McLean, Adnms, Black Creek;
.las jfdmns. Chase, do, Camden, Mills, do.
In the ofllnjp—U L brig Planter, /him N Y. and ship,
Cld. Line ship Niagara, Bciher, N Y. brig JLela, Mor
roll. Mobile, s< hr Columbia, Stmt, Phila.
Went to sen. Line ship Niagara; IU slier, a\ y. »Uam
picket N C, Wilmington, N C,
The members of the Mechanics’ Asso
ciation "re requested to meet at Lamhaek’e l-one
Room, THIS EVENING, at 8 o’clock, at w hich
hour the Committee appointed to draft a Consti
tution will report.
Such Mechanics ns are desirous of Second n<»
members of the Association are also requested to
July 17
Augusta Benevolent Society.
The following are the Visiting Committees up.
pointed to art for the present month •
No. 1.-J. W. Meredith, Cyrus Pike,
.Mrs. McCoy, and Mrs. Nancv Jones.
Division No. 2.—Rev. C. F. Starves, Dr. E. Os
borne, Mrs. T*<. C olo, nnd Miss K. Morrison.
Division No. 3 —Samuel C. Wilson, Porter Flem.
mg, Mrs. llama McKinnc, nnd Mrs K. W Collier*
July 17 T S. STOY.Sec’y.
Kr During iny absence from Ibo State, WiTfiaii).
11. Cnslmey nnd Nathaniel Patten, are my author
ised agents, for thelrnnsnetion of business connect
ed with the office of the f’hronicle & Sentinel
WILLIAM E. JONES'.
Augusta, July 7,1838
ANIEL MACMUTIPIIY i«‘ Iny attorney
dsrinp my short absence from the state.
July 3, 1838 2vv WM. FULLER.
WM. R. McKEET*
No. 369 Jiroad street, Augimta, Ga.,
\ GENT for the New Vork Albion, Emigrant 1
and Old Countryman, will receive subscrip
tions nnd payments. Jy June 9
rjl HE subscriber being about to leave thtTSlnTe
X for a few weeks, Jno. M. Hampton, of Lauf
reus county, will act ns his agent nnd attorney un
til he returns. JOHN THOMAS..
Dublin. T aureus Co., On., June 23. tw<s-vv
MR. JOHN 11. MURPHY will act as nry
attorney during my absence from the city ; all
• prisons indebted to me will therefore make imme
diate payment to him. A. FOSTER.
Augusta, May 30, 1838. ts
NOT! CIO. —The subscribers having determined
to close their business ns soon as practicible.
respectfully request those indebted to them to make
ns early payments ns ran be done without incon
venience ; open accounts, particularly, they desire
may be liquidated ns early ns possible. Orders from
our customers, reaching us previous to the 15th or
3flth oi July, will he executed as heretofore. i
ADAMS, PARMEI.EE & Co. f
July 3, 1838 3td&w
If 1 CII M ON I) II L U lON ,
H ATTENTION I
Attend a Called Meeting of
llie Company at the Planter’s Hotel,
| on Thursday evening next, the 19th
just, at 8 o’clock precisely.
7j y HiE Members are requested to be
U ! 7 punctual in their attendance.
WaJ By order of ('apt. Robertson,
wlf II 11AIFORD, Sec’y.
,I,dy !6 id
■ AND AN 1> GENERAL AGENCY"
B i OFFICE. —The subscriber will attend to llm
sale, exchange and settlement of lands in Florida,
the investigation and perfecting ot titles to real es
late, conveyancing, &c. and to the adjustment nnd
collection of debts. 11 is office is at his residence
in the city of St. Augustine, East Florida.
June 12 6m PETER SKEN SMITH.
riiflUiVEO SURGEONS’ TRUSSES^
/‘or the radical am- of Hernia, nr Rupture,
Invented by Holier Chase, ,m. ij. of Philadelphia.
f | lllb. subscriber would respect (idly inform Ibo
X medical profession,and those afflicted with Hor
maor Rupture,that, having inadoarraiigcmenls with
ibo general ngctil of I lie inventor, to he constantly
supplied with these justly celebrated Trusses, he is
now prepared to furnish instruments, and also to
Heat ibis a filleting disease, as met with in every
ago and in belli sexes.
The instruments consist of Inguinal Trusses, 8
sizes: Ventre Inguinal Trusses, 8 sizes: Feme
-1 ral Trusses, 2 sizes; Umbilical and Ventral Trus
ses, 3 sizes; of double Trusses, 8 sizes, adapted to
all the forms of Double Rupture
These instruments must be os d by Physicians
well versed in the minute anatomv ol the parts im
plicated in Hernia. They are adapted to every va
riety ol reducible Hernia, nnd do nul interfere with
the ordinary avocations of iho patient.
Persons from a distance can have the instruments
applied, and all necessary directions given, as to the
management ol the case, on application to the sub
scriber, at his office on Campbell st. Augusta, Ga.
may2l_ F.M. ROBERTSON, M. D
STEEL RillB FOR COTTON (HNS.
NEW INVENTION.
■ MIL subscriber has just received asnpply of the
• a. 1A 1 ENT RIBS for Cotton (/ins, which
have been spoken so highly of wherever they
been tried throughout I lie Colton Growing ’'states
These Ribs are so cons rucled that one set will last
twenty years or more, and be constantly in use, by
having an extra set of Cast Steel laces. The laces
arc made to (it on the front ol the Ribs, where Ihe
Saws pass through, and in so simple a manner that
any person can (tut them on. The subscriber will
always keep a supply ol Gina on hand of the above
description. WILLIAM JONES,
A few doors above the Upper Market
July 13