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W.W1RHI
“Tlic ferment of a free, is preferable to the torpor of a despotic, Government.”
VOL. II.
'lie Southern Banner,
IS ri'BUSIlED IN THE TOWN OF ATHENS, GEORGIA,
EVERY SATURDAY,
BY ALSO:? CHASE.
TERMS.—Three dollars per year, pnyablo in ad-
nee, or Four dollars if delayed to tho end of the
ar. Tho hitter amount will he rigidly exacted of
1 who fail to meat their payments in advance.
No subscription received for less than one year, un
is tho money is paid in advance ; and no paper will
discontinued until all arrearages are paid, except
Lthc option of the publisher. A failure on the part
if subscribe!.* to notify ut < f their intention of re.
nquishment , accompanied v. i'.h tho amount due, will
considered as equivalent to a new c:ig igcmcnt, and
mpors sent accordingly.
Advertisements will Iks inserted at the usual rates.
Q J’All Letters to the Editors on mattersconnoctod
ritli the establishment, must ho post j>aid in order to
euro attention.
O’Notico of the sale of Lind and Negroes by Ad.
linistrators, Executors, cr Guardians, must bo pub-
Ishcd sixty c 'ays previous to the day of sale.
The salo of Personal Property, in like manner,
lust be published forty days previous to the day of sale.
Notice to debtors and creditors of an estate, must be
uldished forty days.
Notice that Application will lie made to the Court
f Ordinary, for Leave to sell Land or Negroes, must
e published four months.
Notice that Application will 1* mado for Letters of
Ldministration, must be published thirty days, and
br Letters of Dismission, six months.
ATHENS, GEORGIA, MARCH 8, 1834.
NO. 51.
STORE.
HE subscriber is now receiving and offers for
. S'.lc, at the Middle Tenement of E. L. Newton's
lure, a gv.ur.d ..ssortment of
FunJiiily Groceries,
CONSISTING OF
Sugars, Coffee, Molasses, Salt,
l'L(JUR, (northern) Sp BUCK- WHEAT.
i Mackerel, Nos. 1 & 2.
“salmon No. 1, in small kegs for families.
( Dry Cod.
. TEAS, Imperial, Ilyson and Sou-
ftjif '%i~ % clK,: >g-
VyS: FRESH: CANDLES, Sperm and Tallow.
TEAS, h Tobacco and Cigars.
Turpentine SOAP.
Potatoes, Apples, Onions, Itice, and Cheese.
Raisins, Datos and Figs.
Currants anil Cranberries.
Pepaor, Spice and Cinnamon.
Cloves, Nutmegs and Indigo.
Chocolate and Mustard.
Vinegar and Pickled Tongues.
NV ties of .ill kinds.
London Porter.
—also—
Nails, Spades, Shovels, Axes, &c.
■ ALSO
pr. Shoes,
Of nil kinds, from the thick Brogan for Negroes,
to the line satin, Lady's S Up per—Among which are
iO pr. Elastic Over-Shoes,
Lined and hound, with .Soles—which will be sold at
wholesale or retail.
ALSO, OX CONSIGNMENT—
A Lot of Wool and Cotton
cards,
Of all size;, for Machines—Together with an assort,
mcni of
CryslalZzcd Ornaments,
For dressing Cakes—CANDIES, JELLIES, Ac.
HZ’‘All of which will be sold Cheap for Cash.
S. TENNEY.
Athens, Jan. 4—12If.
118 NEGROES, &C.
For Sale.
Office Superintendent of Roads, <J-c.
Eastern Division. January 11,1&34.
S N obedience to an Act of tho Legislature of tho
(state of Georgia, approved by his Excellency the
Governor on the 2lst day of December, 1833,1 will
sell at public outcry, to tho highest bidder, at the
court house in the COUNTY OF ELBERT,
On Monday the 17/7* day of Marc* next
The following named NEGROES belonging to tho
State of (Georgia and attached to tho Lincoln station,
together with the Mules, Carts, Tools, Si.c. connect
ed theretoj
Rasha, (Mills,) Nich, (Zellars,) Abraham, (F. Cul
lens.) Lawson, (Watkins,) Armstead, (Glaze,) Thou.
(Dallas,) Moses, (Sims,) Richmond, (Burks,) Wal
lace, (Charlton,) Isaac, (Brown,) Tom,(Rowell,) and
Jeff, (Wingfield;) and
On Monday, the 24/A day of March next,
Inhko manner, at the court house in tho COUNTY
of MORGAN, the following named NEGROES,
belonging to the State and attached to the Grcencsbor.
ough and Madison station, together with the Mules,
o.ie llorsc, Carts, Tools, Ac. connected thereto :
Loudon, Benjamin, (Bustin,) Willis, (Crosby,)
Abraham, (Mealing,) Billy, (Kcunon,) Axuin, (Car.
gille,) Tom,(M’Gar,) Nod, (Ramsay,)George, (Beas
ley,) Peter, (Cargille,) Dick, (Dent;) Ilenrj*, (Smith,)
Joshua, (M’Gar,) Jerry, (Runnel]*,) Larkin, (Por
ter,) Abraham, (Collins,) Nathaniel, (Berry,) Joseph,
(Pope,) Joseph, (General Pope,) George, (Winter,)
-Too, (Rowland,) London, (Briant,) Caleb, (Rowell,)
Shade, (Jackson,) Joe, (M’Gar,) Nathan, (Collins,)
Berry, (Thompson,) Jerry, (Lumpkin,) Harry, (Por
ter,) Ellick and Murk, (Ba ton ;) and
Oh rritlay, the 'Ablh of March next,
In liko manno/, at the court house in the COUNTY
of DF,KALB, the following named NEGROES, be
longing to the State and attached to tho Cuerokee
station, together with the Mules, Carts,' Tools, See.
connected thereto :
John, (Eaptist,) Adam, Zach, Jesse, Toney, Ilamp-
ton, Harry. Tom, (Drummer,) Tom (Jackson,) Walk,
cr, Ji.n, (Rutherford.) Moses,(Akins,)Jacob,^Blountfi
Guy, York, Ben, Isaac, Miles, Ransom, Peter, Jim,
Beaver, and Bob ; and
On Tuesday, the Is/ of April next,
In like inantior, nt tno court nouso in t.ie COUNTY
of HALL, the following NEGROES, belonging to
the SLite, and attached to the Gainscvillc station to-
gether with the Mules, Carts, Tools, Ac. connected
thereto :
Peter. (Hell,) Lewis (Leo,) Hardy, Jerry, (Edson,)
Ji.n, (Corlielt,) Frank, (Willis,) Abraham, (Ogle
thorpe,) Billy, (Kctchum,) Davy, (Mahoney,) Dick,
(Gilliam,) Amos, (.Mahoney,) Isaac, (Hardeman,)
Matt, (Smith,) Arthur, (Drummond) Doetor, (Long-
street,) Essex, (Wood,) Toney, (Toombs) Joe, (Sor-
iow,) Jacob, (Freeman,) Adam, Larry, Freeman,
(Towns,) Sura, (Parks,) Jeti', (Walton,) Peter, (Mills,)
Jeff, (Mahoney,) Smith, Henry, (Mahoney,) Henry,
(Booker,) and Daniel (Toombs,) and
On Monday, the 1th day of April next,
In like manner, at the court house in the COUNTY
of BALDWIN, the following named NEGROES, be
longing to tho State and attached to the Milledge-
ville and Haw kins villo station, together with the
Mules, Carls, Tools, See. connected thereto.
Scipio, Jesse, July, Andrew, Moses, Ellick, Au
gust, Sam, Philip, Sandy, Jim, (Hume,) Spanish
Town Romeo. Gib, Luke, George, (Mann,) March,
Joe, Anthony, Brutus, Robert, Billy, and Gidoon.
For the information of those persons who may
wish to purchase, the following sections of the before
mentioned act of tho Legislature arc herewith pub
lished :
SJoetve*
HUMAN FATE.
A little child, a little child,
Upon its mother’s knee.
With dimpled cheek, aud laughing eye,
A holy sight to see.
A thoughtless boy, a thoughtless boy,
A truant from tho school,’
Urging his tiny wooden sloop,
On through the glassy pool.
A musing youth, a musing youth,
With eyes fixed on a book,
Whero ho but secs his mistress’ faco
In her last farewell look.
A gay gallant, a gay gallant,
Hero of club and ball;
His father’s pride, liis mother’s joy,
Admired and loved of all.
A traveller, a traveller;
Returned from Foreign strand,
With store of wisdom, culled with care,
For use in his own land.
A happy man, a happy man,
With wife and children round ;
And smiling friends, and cheerful home,
Whore all true joys abound.
A patriot, a patriot,
Intent on i,u die good :
Who, in a Com Is ordeal tried,
Corruption’s bait withstood.
A man of wo, a man of wo,
Bankrupt in heart and wealth—
Wife, children, hopes, all m the grave,
A bankrupt, too, in health.
A misanthrope, a misanthrope,
Disgusted with mankind;
Deserted by deceitful friends,
Whom favours could not bind.
A lunatic, a lunatic.
In melancholy mood,
Shrinking from every living thing—
Sighing in solitude.
A burial, a burial,
With none of kin to weep,
' And lay the old inan ’noath the sod,
To take his lost long sleep.
Strange compante, strange companic,
Are these to meet, 1 ween !
Alas! they are but life’s changes,
That in one man are seen !
Si*EE€H OF itlR. KING,
OF GEORGIA,
On Mr. Clay's motion for inquiring into the
expediency of extending the credit on Reve-
nue Bonds, delivered in the Senate - of the
United States, Friday Feb. 7,1834.
Mr. KING, of Georgia, rose and said, that
the sudden arrival of the debate on these res.
olutious, reminded him that, shortly after the
resolutions were introduced, lie had mado an
effort to say a few words upon one branch of
the question raised by them, anjl to which
the honorable Senator from Mississippi had
professed, mainly, in liis lirsl speech, to direct
.ns attention. He then failed to get the ilour,
and had abandoned all idea of addressing the
Senate ppoa the subject. He said, however,
os the subject had been revived, he would
like still to make a few remarks, but that, in
doing so, he might not 'interfere with the priv
ileges of the gentleman who had the floor,
upou the special order of the day, he would
move to lay tho resolutions upon the table un
til to-morrow. However, (said Mr. K. tur-
ni.ig to Mr. Wilkins,) on this point I would
consult the wishes of the honorable gentle-
man himself.
Mr. WILKINS having expressed his wil
lingness that Mr. K. should proceed, Mr. Tv.
continued—
1 do not sufficiently disagree, Mr. Presi
dent, vuiti several gentlemen who have ad
dressed the Senate upon these resolutions,
(cither directly or indirectly) to feel myself
called on to pay any particular attention to
their rom.iras. He should, he said, himself
vote tor the resolution, but he dissented from
some of the reasons given by gentlemen for
their support of it ; and he deemed it of the
first importance in the present condition of
the cou.hry, that we should not only act ad
visedly, but endeavor to give reasons for our
acts that would be respected by the commu
nity, to which they were addressed.
Mr. K. sain, he would mainly direct the
few remarks he intended to make, to the ob-
servatioas of the honorable Senator from
Mississippi, on the low prices of our articles
of export, and the causes of their depression.
This was a subject iu winch the South was
particularly interested, and lor that reason,
the honorable Senator from Mississppi had
given it particul .r notice.
I do not profess, Mr. President, said Mr .Iv.
to be very intimately acquainted with the
nature of commerci. J operations. I have be
stowed but few thoughts, in the course of my
From the Comic Offering for 1834.
THE DIS-MISSED TO HIS MISTRESS.
I know you once loved nie, though now you are cold
To the fondest of mortals on earth ;
I fear that your heart have been changed with my I life, to this subject; and am perhaps, still lessi'a
I miliar with the usual influences of a deranged
Anu you wish for a man of—more—worth.’ and fluctuating currency upon the cominer-
IIow ardent my flame! oh! His madd’ning to think I cid interests of the country. But, sir, said
“Sec.' 4. Be it fin iher enacted by the authority
aforesaid. That the said Superintendents and each
of them shall, and they are hereby authorized as the
agent of the estate, to execute to the purchaser or
purchasers of said slaves or either oi them, good and
sufficient titles (warranting tho title thereof only) for
and to said slave or slaves, and deliver unto hun or
thorn, the same, on said purchaser's paving in cusl
one fifth of tho purchase money therefor, and tho bal
ance in thirty days thereafter, on tendering to the
said Superintendent a certificate from the Cashier of
the Central Bank of Georgia, that the said purcha
ser’s note for the said balance had been discounted in
said B.mk, which the said Bank is hereby -directed
and authorized to do, in such manner and on such
Of pros]<ects now dreary and dark,
C.upid’s torch is gone out, and there remains not a
link,
Of Love’s chain to encourage—a spark !
I've been cut when we met, it was useless to plead.
Soft whispers were never allowed [aloud]—
The world must acknowledge you peerless indeed,
I ne’er thought -you’d—pass in a crowd !
You sent mo your album* and teased me to write,
Th£ I vowed I could not make a line.
And you sneered wheu you heard that I sat up ill
night.
While I strovo, in your good books to shine !
You once mentioned music, I bought a guitar,
Yet, oh ! when I o tie rod to play—
You fancied a sclirecch-owl was pleasanter far.
And exclaimed with a frown—“ play away
Silvery Stable.
n HIE Buhscrilier having purchased a goec assort-
. ment of CARRIAGES, consisting of several
GIGS,
A TILBEKRY,
iSSWSJ—-St A SULKEY,
►. AN ELEGANT TWO HOUSE
Barouche,
AND A
eOOJ) FABILV CARRIAGE.
—also
A number of
Good and Gentle,
Horses,
Which he offers to Hire on
accoivnodating terms.
Travellers would find : .t to their interest to call at
this Establishment, as they can be accommodated at
any time, in travelling to any part of the country,
—also—
terms us are usual in discounting on loans: Provided
the same shall not oxceed twenty-five hundred dollars. I You hinted at dancing! then did I not fly,
“ Sec. 5. Be it further enacted by the authority To learn galopade and quadrille!
aforesaid, That, on failure of Baid purchaser to pay! But why did you laugh, when I once jumped too hi"h,
the said one.fiflh of the-am-unt of *e lid purchase Was it odd that a man should—fall ILL? °
money, at the tiiuo of said purchase ; the said Super- I .
intendent shall proceed forthwith to resell said I You bcgged that a box for the play I’d engage ;
slaves, not crying again the bid of such defaulting W | th «»o<Aer, the front scat you took ! i C: , |led la tUe donate, tic migiit possibly uot
purchaser during said sale, and on failure of said pur- W J" Timrd 1°“! ‘“I", 8taSe ’ recollect accurately some of the positions of
ciiaser to pay tne balance ot said purchase money, vvnen i uau not a word—nor—a look". I ' . . ,* , . e ,
1 the honorable Senators and he hoped if he
My presence ! alas! ’tis too pla ; nly discerned,
No more can your solitude cheer,
But those other presents have not been returned.
You have kept them—I know they were DEAR !
lie, with my uulearued notions upon these
subjects, the views of some gentlemen have
been so exceedingly wild, or, at least, to me
so unsatisfactory, that I hope I may uot be
charged with presumption, or even with af
fording evidence of a degree of confidence
in my own opi -ions which I do not feel, if I
should attempt very brieriy, to explain, why
it is that 1 diifer so widely in my views with
other gentlemen who have preceded me in
the discussion.
The honorable Senator from Mississippi had
contended, if he uudcrsiood tiini, that the
present price of cotton was to be attributed
to the derangement of the currency, and the
inequality and depression of exchange, which
produced a want of fair relation between the
home and foreign market ; all of which w.»s
to be attributed to the removal of the deposites.
Here Mr. 14. turned to Mr. P. aud said, that
he had taken no notes, and being suddenly
called up in the debate, he might possibly uot
or tender said certificate as aforesaid, within tho
space of thirty-days after said sale, said purchaser
snail forfeit the said one fifth so paid, aud said Su
perintendent' shall, on thirty days’ notice being
given thereof, as aforesaid, resell said slave in the
manner, at the place, and on the terms and condi
tions herein before prescribed
WILLIAM C. LYMAN,
Superintendent, <J-c. Eastern Division.
Tho Standard of Union and Southern Recorder,. ...
Milleugcvillc, the Georgia Telegraph, Macon, tho on P ast J^Y 8 * recollections still tlirong,
Georgia Constitutionalist and Georgia Courier, Au- t , f r griefs tho’ the heartless may scoff!
gusta, the Southern Banner, Athens, tho Cherokee I ‘* v ®J iUn S on y°ur promises and dangled too long.
Intelligencer, E.Uv.vli, and tho Western Herald, Au- ' ‘ m con b’nt to bo dropped—and TURNED OF
raria, will each insert the above weekly until the 7th
of April, and forward tticir accounts to this ofiico for
payment.
Jan. 2a—45—lit.
Then take my farowell! an eternal adieu!
Love’s fetters forever I’ll shun !
You may win fifty hearts, aye, and number them two,
But prythcc, dont reckon mi ic—WON!
Valuable Property
FOB SAkF,
AND -4 GREAT BARGAIN OFFERED.
T HE Subscriber offers for sale his Plantation in
Twiggs County, containing upwards of
3030 Acres oft* Laud,
His STABLES are ready to receive any Horses that j Lying on, and extending at least six miles along, the
may bo entrusted to Ins koepinir. - I (j C i nu |gee River, eighteen miles below Macon and six
miles from Morion, the road from tho latter place to
Perry, Houston county, running through it, with half
should misstate his arguments, that he (Mr.
P.) would take the liberty of correcting him.
Mr. P. bowing assent, Mr. K. proceeded.
Sir, said Mr. 14. that the home price of an
article of export, in which the speculator
usually deals for cash, aud ships, to a foreign
in.nket, which being the market of its great-
cst consumption, confessedly - regulates its
price in all parts of the world where it is pro-’
ducSU : or, (to take the other branch of the
proposition) that the relation between the
homo price of an article of export, and the
price of the same article in such foreign
market, should be materially influenced by
the derangement of the currency, the lluctua-
tions of the currency, the inequality in do
mestic exchangee, or (what seems most relied
may bo entrusted to tils keeping,
By Utae lir.v, Week or 3Eon(h.
Having a trurty and experienced Ostler* he flatters
liim9elf Id bo ablo to please all who may call on him
in thi altovo lino of msincs*.
IETAU persons luring tho above named articles,
will be held responsible for all damages.
lEFCiish in advance will be required.
JAMES WITTER,
Athens, Jan. 25-—45—cowtlSept.
Strayed,
IT’I'OM the residence of Pr. Ward
m Athens, on Sunday P. M., Fob.
23d. a small, handsome, dark sorrel
Indian Pony, with a white stripe in
his face. He come lately from Henry
county, but was last seen on the road to Jefferson,
hov.ver has taken up and will return the same.
c? Py 0 information so that he may bo recovered, I agent on the premises, and examine the property.
Dliall be liberally rewarded. R. H. MUSGROVE.
March 1—50-—St, ! Augusta, Jan. 3,1834.—43—cowCm.
the Ferry, across tlie Ocmulgce, which belongs to-the
Plantation. Also,
50 Likely Negroes,
Among them a good Plantation Blacksmith, with a
good set of Tools.
On the premiss, is a good framed Dwelling House,
Barn, Gin House and S.aw Gin, a Saw and .Grist
Mill, on a tolerable stream of water—a good stock
of Mules, Cattle, Hogs and Sheep, besides a lull sup-
ply of Provisions, Pork, Corn, Fodder, Ac. Ac. for
the next year, and all thq necessary .conveniences for
a Farm, such as Wagon, Carts, Oxen, Ac. Ac. with
the present crop now under preparation. AU of
which will be sold with the Plantation.
A credit of one and two years wiU be given if de.
sired, for undoubted Notes.
Persons desirous of purchasing will call on his
dropped—and TURNED OFF!
A gentleman tho other day. in a shop at Kcnsing.
ton, on takings pinch of snufl', politely offered liis
box to a pretty looking servant maid, who was also
making purchases. “ No, thank ye, sir,” said the
smart souhrette, “ I reckon my nose an ornament to
my face,and not a dust-hole.”
The Albany Microsco[>e says that two oystermsn I on)the want of credit in this country—seemed
have failed in that city in consequence of the remo-1 to him to be doing violeuce to alt just reason-
val of tho deposites, and that until they are restored, I ia „ m, 0 !i the subject, and to be marked with
no effort will be made to compound with their crod. a ^ dlsregard Q f the most obvtous laws ol
’ „ _ _ t „ trade, and the plainest principles of commerce.
„ boil it„;,TVcn , s,,.^ Mr.K.wlmt readers llw, assumption
strain the figs. Add two table spoonfuls of yeast, I ^ le more extraordinary, is the admission, on
and the same quantity of honey.' Gargle the throat I all hands, that the country has never been so
with this liquid, ana a euro is certain. 1 full of capital as it is at this time. Yes, said
According to the Baptist Annual Register for 18-1 Mr - K -» 1111 accounts I have seen recently
33, there was at tho time in the United States, Up-1 from the Atlantic cities, concur in proving
per Canada, Nova Scotia, New Brunswick and Jam-1 that there has rarely been such an accumula-
aica, 3H Baptist Associa’s—5,543 Baptist Church. I t j on Q f ■private deposites in the Banks of the
ea—3,153 ordained Ministers-—6,57 licentiates—42.1 * t a- • • j • n„ VAtti v j,
517 Baptised, and 409,658 Communicants. It is es-1 AtlautlC c,Ue8 > aud C3 P® c ‘ al, 3 Ndw ^ ork > 88
timated that 50,000 persons were baptized and he- ‘here was at the date of th#Iast acounts. Of
come Baptists during the year 1833. ’ I money and currency in the country then.
O* John II. Mourn, Esq. was on the 13th ult. re- ‘here was a plethoric abundance, and that
appointed by and with the advice and consent of the too, uot alone belonging to the banking insti:
Senate, Marshal of the District of Georgia. ' I tutions, and subject to their control, but be
Congress.—We are gratified to state, that the bm I btnging to individuals, and which, by a law
from the Senate, authorizing Mr. G. B.Lavaxof this common to speculating men, they would al
city, to import iron for steam-boats and machinery, I ways invest wherever they could honorably
^ n L vigationwa 4expoct a profitable return-. But, notwith-
passed. It therefore oSj 2re£°thJ^tSiJonS | standing this admitted abundance of capital in
Resident to become a law.-r-[So». Georgian. 1 ‘ho country, it is said, “ there is a want of
confidence and a want of credit,” and “ hence
the low prices of our articles of export.” Sir
said Mr. K. you might as well say, w hence
the low condition of the Western Waters,” tiu.
ring the Fall of 1833. What, siiid Mr. K.,
has a want of confidence, or the want of cred
it in this country, tc- do with the matter ? The
capital is now idle in the hands of individuals,
and the capitalist, who has money unemployed,
wants neither confi ience nor credit. He ha s
money, and always wishes to employ it profi-
tably, when invited by a market that offers a
large profit. Why, said Mr. K., so far from
the position of gentlemen being true, it may
be safely assumed, that if every dollar of cur
rency were, “ by one fell swoop,” stricken
from the face of th 3 earth, within the limits of
the planting States—-yes, from the Potomac to
the Sabine—unless it were driven beyond the
confines of the commercial world, and its
circulation forcibly prevented, tho influence of
such a local disaster to the currency on the
price of cotton in the planting States, woukl
be merely temporary- What, said Mr. K
plenty of capital in the country ut the com
mand of individuals, unemployed, aud a tempt-
ing foreign market before them, offering, it is
said, large profits, and yet the capital will not
circulate iu the purchase of it ! Why, said
Mr. K. you might as well expect to stop the
flow nnd circulation of the blood i o the heart
of the animal, during the continuance of res-
pir.ition, as to stop the flow and circulation of
currency to those points where it can be
most profitably employed.
But an attempt has been made, said Mr.
K. to account for the fall of cotton by the loss
on exchanges. To attempt any thing like a
lucid exposition of the nature and operation
of exchanges, said Mr. K. would require bot h
detail and time ; and he was disposed to save
himself the trouble of the one, and the Senate
the consumption of the other. Bui a few re-
marks would dispose of this part of the sub
ject. The gentleman from Mississippi had
said, (if he understood him,) that, as one of
the effects of the removal of the deposites,
foreign exchanges had fallen, and domestic
exchanges had risen ; or rather that the pre- »
mium on foreign bills had fallen, and the dis
counts on inland hills had risen, whieh, thus
explained, seemed to assert a depression iu
both species of exchange, as the effect in
both cases was to reduce the proceeds of the
bill in the hands of the seller.
If, continued Mr. K. the honorable Senator
intended to assert that domestic exchange has
been unusually high or unequal during the
Full of 1833, he must insist that the honora
ble Senator was—unintentionally, of course
—mistaken in point of fact. Mr. K. stated
that he lived in a central city, about equidis
tant between this and New Orleans; and men
tioned some facts, and referred generally to
the exchange tables, as found in the South
ern papers, to prove, that, from the city ol
his residence, exchange, North and South, had
rarely if ever, been lower than since the re
moval of the deposites. What it was at New
York- or New Orleans, he knew not. Bat if
it were us stated by the Senator from Missis
sippi when last up, greatly against New Or
leans, he could only say, what the Senator
and all others must readily perceive, that the
effect was in direct hostility to the proposition
which this fact was brought forward to sus
tain. If Louisiana bank bills were 10 or 12
per cent, discount in New York, as had been
stated, aud exchange were so heavily against
New Orleans, the inevitable eifgct-must be to
transfer capital from New York to New Or
leans, for the purchase of cotton. When
speculators, with 31,000 in New York, could
place 31,000 in New Orleans, for the pur
chase of cotton, they would purchase cotton no
where else, and such a state of its currency
would shortly make New Orleans the greatest
exporting and importing city in the Union.
But, said Mr. K. a practical answer to all this
theory is readily found in the relation between
the prices of cottou in the different ports of
the Union. The quotations in the different
seaports would show no unusual inequality in
price. And he would ask gentlemen why it
was, that if cotton were low in New Orleans
from tho difficulty of supplying the funds from
New York to purchase, why did it not bear a
better price in New York, the place from which
the money is said to be supplied l These are
both exporting and importing cities, and there
seems no unusual want of relation of prices be
tween the city supplying, and the city supplied,
with capital to purchase this article of export
And this alone would prove that nothing
could be lost to the producer by the in
equality of domestic exchanges. But, said
Mr. K. I will make a more unanswerable
inquiry still—^why is it, said he, that cot
ton does not bear a better price in Texas
Mexico, and South America ? lie hoped
there had been no removal of tho deposites
there.
But, Mr. K. said, the shortest way to dis-
pose of this whole charge Of loss on account
of the depression of exchanges, would be (for
the sake of ar;;ument) to admit the facts as
charged, and we would instantly see such
a want of agreement, between the alleged
cause.and the alleged effects, as clearly t«>
shew that there was no proper connexion be.
tween them. He had seen in the public
prints, that some, who bad agreed with the
views, of the gentleman from Mississippi, in
sisted on a loss to the producer of 2 1-2 or '
per cent, on this account. For no one, I
believed, contended for a loss to the producer
of the whole amount of the depression of ex
change, or attempted to impute the entire
decline in foreign exchange to the measures
of the Administration. But to be liberal iii
our admissions, for the sake of argument, said
Mr. K. let us say 5 per ceut. He presumed
the Senator from Mississippi would not con
tend for more. What would this amount to ?
In estimating cotton at 10 cents per pound,
it would amount to 1-2 cent per pound. How
shall wo account tor the balance of the loss ?
It is alleged that the loss is from 3 to 5 Cents
per pound.
But, said Mr. E. I roust sny a word on for#
ejgn exchange; though the loss on that is in-
eluded in the admission just mi.de, for tho
sake of argument. It , s said, I tbi„k, that
the planter loses the premium on foreign ex-
change, which formerly added to the price of
his productions. (Here Mr. Poi..di xter beg
ged leave to explain. lie said, that, by the
depression of foreign exchanges, cotton would
uot now be used *s a remittance to the same
extent as formerly, as (he depression destroy
ed the competition among that class of pur
chasers who purcb ,sed cotton lor remittance in
stead of exchange.) Mr. K. resumed. He said
Wuhthe explanation,he perfectly understood the
argument of the honorable Senator, and
thought it easily answered. No oue had
shown how the condition of our own money
Market had exerted an agency in depressing
foreign exchange. It is never dealt in as
an article of speculation ; it is ouly needed
for the payment of our foreign debt; and the
price and competition, depend upon the de
mand ; and the demand is regulated by.the
state of trade between the two countries. It
is admitted, then, said Mr. K. on all hands;
even in the complaining meuiorials upon your
table that, the balance of trade is largely in
our favor. This was a state of things long
desired by us, and the Senator might as well
expect the laws of gravity (o be disturbed,'
and the waters of the Mississippi to turn up
stream, and continue in that direction, ns for
exchange to be against us when the balance
of trade is in our favorr The premium of
exchange, he said, should not be expected to
resist the balance of trade.
So much, then for the home prices of our
articles of export in connexion with the meas
ures ol the Administration. We are however,
confounded by another proDosition, brought
in aid of the first, and though no attempt is
made to explain it, for an obvious reason, yet
it asserts a most disastrous state of things ;
and, unless it can bo explained by others—;
like all other inexplicable phenomena—charged
with mischief, it will be put down of course
to the accout of the Administration. I allude
to the alleged want of proper relation between
the honie and foreign markets.
Now said Mr. K. the relation between the
home price of an article of export, and the
foreign price of the same article, (which, be-
ing the market ot its greatest consumption,
confessedly regulates its price in all parts of
this world, wherever produced,) depends up
on a variety of commercial incidents, but
mainly and principally upon the confidence of
the dealer in the stability of the foreign market.
And it is a law of trade, that a rising foreign
market will usually be anticipated by the dea
ler: Provided he have a reasonable confidence
in the continuance of the causes o the advance. '
And for a like reason, a falling foreign mar
ket will be anticipated by the dealer, provided
he have a continued confidence in his belief
of the causes of the decline. Practical men
reason in these matters just as they reason in
the every day transactio-'s of life. They use
the plain logical proposition, that what has
happened once, will most likely, under the
same circumstances,- and during the continu
ance of the same causes, happen ag ltn.
Hence they say, that “if cotton fluctuated in
price, either on the rise or the decline, a giv.
en amount during the laps” of 30 days previ
ous to' the dates of the last European quota
tions, and we know, and feel confident in tho
continuance of the causes of the fluctuation,
it is safe to conclude that the fluctuation has'
been in an equal ratio for the 30 days which'
it has required to receive the accounts.”
Let us illustrate hv a lew particular refer
ences—we should never resort to theoiy
when we have the lights of experience' to
guide us. What then, was the relation be
tween the home and the foreign markets for
cotton in the year 1825 ? Ask the specula,
tor of that year, or get information from more
infallible sources, and it wolild (if he mistogk
not,) be found, that, during a portion of that
year, the home price was nearly equal to,
even beyond the last European quotations.
What was the. cause of- this ? Why, -in that
year, the dealers both in Europe and Ameri
ca had become fully convinced, thatTne orop
in market was an unusually short one. That
the supply would fall far short of the usual de
mand. The whole commercial world was ful
ly satisfied qf this fact. And, without recol-.
lecting that the high price ol an article of
consumption will greatly diminish: the con
sumption itself, the holier was general, and.,
much encouraged by speculators, that the
price would co.ilioue to advance indefinitely,
until it should be checked by the distribution
of the new crop. But consumption was
checked, the speculating bubble burst, and the
sequel was known. Cotton went down at a few
leaps from 33 or ,3 qents to 7 or 8 ! Oh! said_
• Mr . K. what a glorious year this would have
been for the removal of the deposites! The
President, with all liis alleged usurped pow,
er, and unrighteous popularity, aided by all.
his “ collar men,” and his # “' collar*presses,”
could not have stood up a moment against the
torrent of discontent which the disappointments;
and distresses of that year produced! It would.
'