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U'jJJii WmEI ©WWIIAH. JAMES A- WRIGHT, Editor. PUBLISHED EVERY SATURDAY MORNING BY SAMUEL S- JACK. Terms. Three Dollars per annum,in six months or four Dol lars at the expiration of the year Subscribers living out of the State, »ifi be expected in all cases to pay in advance. No subscription received for less than one year, unless the money is paid in advance; and no paper will be discontinued until all arrearges are paid, ex. cept at the option of the Publisher. Persons request ing a discontinuance of their Papers, are requested to bear in mind a settlement of their accounts. Advertisements will be inserted at the usual rates; when the number of insertions is not specified, they will be continued until ordered out. O* All Letters to the Editor or Publisher, on matters connected with the establishment, must be Post Paid in order to secure attention. O” Notice of the sale of Land and Negroes, by Administrators, Executors or Guardians, must be pub lished sixty days previous to the day of sale. tj* The sale of Personal Property, in like manner, must be published forty days previous to the day of sale. 13* Notice to Debtors and Creditors of an Estate, must be published forty days. ITT Notice that Application will be made to the Court of Ordinary for Leave to sell Land and Negroes, must be published four months. ( (LT Notice that Application will be made f>»r Let tera of Administration, must be published thirty days and Letters of Dismi-sion, six months. (LT For Advertising—Letters of Citation, $ 2 7.*> IT Notice to Debtors and Creditors, (40 days,) 3 25 Four Month Notice*. 4 00 Sales of Personal Property by Executors, Adminis trators or Guardians, Sales of Land or Negroes by do. 4 75 Application for Letters of Dismission, 4 50 Other Advertisements will be charged 75 cents for every teirteen lines of small type, (or space equi. vilent,) first insertion, and 50 cents f«r each weekly continuance. If published every other week, G2J cts. for each continuance. If published once a mom hit will be charged each time as a now advertisement. For a single insertion one Dollar per square. From ike Georgia Constitutionalist. \ [communicated.] To the Hon. Henry Clay: Sir —With with diffidence I sub mit to your consideration, the fol lowing essay upon a subject which, by its importance, has not only at tracted general attention, but will continue for some time to come, to agitate the country, before it is set tled. if, from the plan I propose, some useful hints may be gathered, I shall be satisfied. The confidence 1 always entertained in your patrio tism, and the respect 1 always felt for your public services, have induced m<‘to address you this sketch of my views respecting the establishment of a safe and permanent currency. MADISON. Sir—ln the present perplexing and embarrassing times, when so much is said about establishing, if possible, a uniform currency, and disbursing the public monies and revenue, there are no two writers that appear to a giee on any one method. That a uniform currency is very much to be desired, is what all are ready to ad mit, but what none ds yet can effect. Experience has proved that the pet bank system cannot do. A spe cie currency is out of the question, and has already humbugged the peo ple; and the sub-treasury system is too mischievous and visionary to re quire serious consideration. A ques tion then arises; can a uniform cur rency be established ? We answer in the affirmative; and in our humble opinion, we will rendbr it demonstra ble. We will not enter into the cau ses of the present embarrassments of the country. They have been fully set forth in almost every essay which has appeared on the subject; but we jßha.ll be as succinctly’ as possible present our views of what will, and what must, eventually remedy the evil, which can only be done, in our opinion, by a bank purely national— belonging to the General Govern ment and to the States, or the States only, as Congress in its wisdom ma\ think proper. But taking it for gran ted that it would be best that the General Government should be a party, we will proceed forthwith to submit our plan for such an institu tion. Allowing the 26 States to number 300 Senators and Rrepresentatives, we would allow each and every state, one million of dollars worth of stock capital, and for each and every sen ator and representative, thereby ma king $300,000,000, for the States ; and to the General Government, we would allow $50,000,000 worth of stock as its portion of capital, for the purposes of locating and estab lishing branch banks in the territo ries and such States as may apply to Congress for a branch bank. To put the bank at once into full and successful operation, Congress should enact that books of subscrip tion be opened in this country and in Europe, for the above amount of three hundred and fifty million dol lars, payable and redeemable in one hundred years, or sooner if practica ble; but one tenth part of the above three hundred and fifty million dol lars, must and shall be paid every tenth year, or sooner if practicable ; and for the payment of the above sum of money, the General Government is to give its bonds, and all the reve nue of every description of the gov-1 ernment, and also all the public lands: are to be pledged as security for the payment and redemption of the said three hundred and fifty million dol lars; that the three hundred and fifty million dollars, to be subscribed for to be paid to the General government in specie or the notes of specie pay ing hanks, or by bills of exchange drawn on specie paying banks. That the states which think pro per to subscribe for stock may do so; but if any state shall refuse to sub scribe for such stock, then that part or portion of stock which would have gone to that refusing state,shall be equally divided among such states as may think proper to subscribe for such stock. And for the security and payment of the capital and stock held and owned by the States—each | State shall give their bonds to the General Government, payable in 100 I years, but one tenth part shall be ■ paid every tenth year, or sooner if . practicable. The bonds given by the general government for the three hundred and fifty millions, are to ! carry interest from date, at 6 per ct. 'per annum; and the bonds given by !the States to the general government are to carry interest from date at six per cent per annum, and all the pro perty and revenue of each and every State is to be pledged for the pay ment anil redemption of the bonds as they become due. Thai the great mother bank shall be located in the city of Washington, and shall be de nominated or called the Central Bank of the United States, and that bank shall be the only bank in the Union that sh*»ll issue bank or post notes. It shall be a bank of issue only, ex cept that it may be a bank of ex change if necessary, for the purpose of drawing and redrawing for the re mittance of government monies. That in the act creating and estab lishing such bank, there shall be a provision that Congress have the privilege, with the consent of any State or Government, to establish a gency offices in its territory or do main; as for instance, agency offices in London, Paris, Hamburg, C:c. From the above it will be seen that the debt due by the States to the ge-i neral government, win pay the debt; due by the General government to the loaners of the money. That each state shall have a mother bank, to be, located at the metropolis or seat of Wisdo ni, Ji;st i ec, an UJM »uen*a tio n. ROME, FLOYD COUNTY, GEORGIA, MARCH 10, 1838. government of such state, and that the legislature of each state be al lowed to establish as many branches within the state, as they in their wis dom may think proper and expedient, and that from and after the passing of such an act by Congress, for cre ating and establishing such an insti tution. no State or Teritory shall pass any bill or bills, chartering bank ing institutions or companies with banking privileges. But it shall be the duty of each and every state to buy up the stock of all the banks which have been chartered by the state, at the time the charter of the bank may expire, at the market value of such bank stock, which said bank stock, so bought by the state, is to be added to the general bank fund and capital of the state; and for the purchase of such bank by the state, all debts due the bank so bought, shall forthwith and immediately be come the property of the state, so that debtors to the state institutions, may suffer no inconvenience. And the state for such purchase shall give its bonds, payable in one, two, three and four years, to carry six per cent interest from the date, but to be dis charged sooner if practicable—but the States may be allowed to buy up and purchase out the charters of the State banks as soon as they can, and on such terms as they may think pro per. And if in any state there be a Bank having a perpetual charter if such Bank having a perpetual char ter shall refuse to sell out, then, at the expiration of thirty years from the time that Congress passed the act establishing and creating a national bank, shall the perpetual charter of such Bank cease to exist, and the State shall be bound to take its stock and effects at valuation. From which it will be seen that if such were the case, that in a few years there would be but one Bank in the United States which issued bank notes; not that we would pretend to hinder individuals from issuing their own notes if they saw fit to do so. Were it possible to carry into ef fect the above and foregoing plan for a national Bank, we should in a few years have a better currency than we ever had, and the longer in es tablishing such an institution, the greater will be the difficulty. But let the states and the people throw away ther prejudices, create the bank and we would advise its organisation thus : That the President, cashier and directors, of the mother Bank, to be located in the City of Wash ington, and to be called the Central Bank of the United States, shall be elected for six years by joint ballot of both houses of Congress; that the said directors so elected shall be classed similar to the classification of United States senators, so that one third of the directors shall go out of office every two years, and shall not be eligible for four years ; that the president cashier be also elected by joint ballot of both houses of Con gress for six years; but that they may be removed by impeachment. That it Congress shall locate or establish any branch Bank in any state or Territory, that the president and di rectors of the central bank shall el ect the board of directors, president and cashier, of such branch bank, who shall hold their offices for three years; but they shall also be classed as United States senators, only that one th.rd shall go out every twelve months and shaL not be re-elhgible J for two years. That it shall be the ; duty of Congress, or the Central Bank, it there should be any bank in any Territory, chartered either by congress or the legislature of the territory to purchase up such bank on terms similar to those heretofore described for the purchase of banks by the states. The state Legisla tures shall, by joint ballot of both their houses, elect a president, cash ier and directors, for the mother bank for three years; that they shall be classed as United States senators are, !so that one third shall go out every year, and shall not be re-eligible for jtwo years—the president and cash ier to hold office for three years, but may be removed by impeachment i That the president and board of dir ectors of the mother bank, elect the president, directors and cashier, of all the branch banks which may be established in the State. That from and after the year 1850, the bank in XV ashington shall not issue any note of less value than $5, but may issue to that time, notes of 1,2, 3,4, 5,6, 7,8, 9 and 10 dollars; from and after the year 1860, the bank shall not is sue any note of a less value than 10 dollars, but until then may issue 10, 11, 12, 13, 14, 15,16, 17, 18, 19 and 20 dollars; and from and after the year 1870, the bank shall not issue any note of a less value than 50 dol ■ lars, but until then may issue notes of | any immediate value they may think proper. But it would be very wise policy for the bank to have many and very many notes, of the value from 1 to 20 dollars, and might have notes of 150, 250 and 350 cents, and so on to any amount, to be circulated in case of emergency. That as there has been of late a great deal said about a metalic cur rency, we would recommend the in troduction of platina coin, of a medi um value between gold and silver— and would make the pieces of money value from one to 10 dollars. We know that this cannot be legallv done that is, constitutionally; but if Con gress shall say that such coin shall pass for and be redeemable for all dues due the government, there will be no difficulty of and about its spee dily becoming as current as gold and silver. Russia has introduced plati na coin with advantage in its trade and government, and why may not we ? We would also suggest the propriety of coining other silver coin than those now coined, so as to have pieces of the value of 20, 30, 40, 60, 70, 75 80 and 90 cents, and pieces of the value of 150 and 200 cents. In like manner, we would have gold ’ coined of the value of 15, 20, 25, 30, 35, 40 and 50 dollars value. We would also recommend the doing a , way of copper coin, and in lieu there of, would substitute a white compo sition metal, of equal value to cop per, of the value of 1-2 1, 2 and 2 1-2 cents. The above and forego ing plan will and must, if adopted, have a tendency to establish a uni form currency, and is freer from ob jection than any plan we have seen, and would, in a very short time, have the tendency to keep all the State Governments from assessing taxes, on their people; but the general gov ernment would be enabled to reduce the tariff as scoa and as fast as prac ticable. But it may be said that the capi tal is too large—if so redu e it. On the other hand, it may be said the capital is too small; if so then we would propose the following as a proper way to enlarge it : So soon as any state in its representation, shall be entitled to capital equal to . the amount held by the general gov- 1 eminent, that then so soon shall the generalgovernment increase its stock to one hundred millions of dollars, Vol. I— AO 8- but shall never have any more stock I than 100,000,000 of dollars; and no State, let its representation be what it may, shall never have or own more I than 100,000,000 of dollars; and I each and every State may have one million of dollars worth of stock, for each and every representative it may j acquire, until they arrive at one hun dred. And if there should be any new State admitted into the Union, then Congress shall issue its bonds for stock capita! for that state, as the case may be, according to the ; number of senators and representa | tives to which such new states may be entitled. The notes of the Cen tral Bank of the United states, would be current all over the universe. All of which is most respectfully submit ted, by your obedient servant. MADISON. WESTERN AND ATLANTIC R. ROAD. It is with much pleasure that we hasten to transfer from the columns of the Washington (Geo.) spy, to ours, the address of General Brisban. With such Engineers as Col. Long, Gen. Brisbane, and others equally industrious, persevering and skillful, the Western and Atlantic Rail Road must progress to the satisfaction of the citizens, who have sanctioned the undertaking by a unanimous ex pression of their anxiety for its spee dy completion. As we heretofore stated, a bill has passed the legisla ture of Tennessee, authorising the extension of the road by georgia to ' the Tennessee river. As soon as we receive the Tennessee bill, we shall publish it. The commission ers of the road, elected at the last session of our legislature, Messrs. Joel Crawford, Faris and Bolton,arc discharging their duties with industry and ability. They have adopted rules and regulations, for t’.e con struction of the road, and the dis bursement of the funds, which are just and appropriate, and cannot fail to produce strict accountability and economy. We cannot give the com missioners too much pra se, for the adoption of the I3th and last rule, which is as follows: Constilu. Article 13. A scrupulous observ ance of the foregoing Rules and Re gulations; industry, and a close at tention to appropriate duties; moral and examplary conduct, as evinced by habitual abstinence from inebrie ty, profanity, vulgarity, desecration of the sabbath; civility and politeness towards the inhabitants of the coun try, in which they serve, and a res pectful gentlemanly like deportment ; towards each other, are strictly en joined upon all who arc now, or who I may hereafter be engaged in the Rail Road service, in any capacity, or for any purpose, herein disignated. Any violation of the Rules hero prescribed shall be regarded as just cause of dis mission from the Rail road service. The Committee of the Massachu setts House of Representatives, to whom was referred the application of the Western Rail Road Company for a loan of the credit of the state to the amount of 2,100,000 dollars, have reported in favor of the loan, in the shape of a five per cent, state stock, payable in thirty years, the interest to be payable annually in London. The stock to be advanced to the compa ny in proportion to the progress of the work, and to the payment of as sessments by the individual stock holders.—Constitutionalist. What the Printers hate—Wc hate to be under the necessity of making three lines to fill this column.