Newspaper Page Text
secure their immediate passage—impressed
with serious Apprehensions Hie inipitnizu hull*
vidunis of every party and led them to fear
the introduction into the administration of the
General Government ofa spirit of persecution,
of exclusiveness, and of despotic notion, at va
riance with the wholesome rules of America^
policy ; but tliese apprehensions have been im
measurably strengthened by l old avowals of
n determination to remler inefficient one of the
important and independent departments of the
General Government.
It is not within the recollection of this Com
mittee, that at any period since the formation
of this Government, or at any moment even
of the most embittered party excitement, when
cnco lrnged and elevated by the flattering pros
pect of wielding without control the power of
the country, there has been even a wish ex
pressed, much less a determination avowed, by
those who composed a majority of one branch
of the Government, to abridge and impair the
constitutional poweisofa co-ordinate depart
ment ; and to obliterate one of those checks
and balances which give strength and stabili
ty to our admirable political system, the pres
ervation of each of which; with all its original
powers and functions, can alone perpetuate
the peace, harmony and integrity of the Amer
ican eon fedcracy.
Rallying under the deceptive and delusive
declaration of “ the will of the nation, un
controlled. by the will of one man.'' it is sought
to concentrate all power in the hands of one
branch. Shall we destroy the veto power be
cause it is exercised by one man? If so, why
not, with the same propriety, and for equally
cogent reasons, destroy the power of the judic
iary ? It is a power equal in its sphere to ei
ther of the other two, and, in its negative ope
rations, sometimes greater than both, as it may
render the law void which has received the
sanction both of Congress and the Executive,
and i!i is, too, by the easting vote of one man,
a single judge. In this organization of onr po
litical system, there is safety : there is stabili
ty ; deriving its weight from experience and
sound philosophy; and yet an attempt is now
making to abolish this power, and give exclu
sive control to one branch of the Government,
and that the least stable of the three—thus
converting onr admirable system, with its
three separate and independent departments,
each restraining the excesses and correcting
the errors of the other—a system which has
secured to us happiness and prosperity at
home, and political importance abroad, into a
mere shadow, where every crude opinion may
have weight; whereinexpedieu; measures may
be adopted, by aid of some influential impulse,
as sudden and ns short ns it is violent; and
where a party, in periods of excitement, and
governed by the prevat'ing delusions of the
times, may urge measures in direct hostility
to the solid interests of the people.
It has produced both regret and astonish
ment in the minds of this Committee, that ac
quiescence in this step, which contemplates
nothing'less than a radical change in onr form
of government, by a concentration of its pow
ers in one branch, instead ofa division, as we
now have it, into three, should have been not
only readily yielded, but to onr astonishment
recommended by a distinguished citizen of
Georgia, the Honorable John McPherson Ber
rien, now holding the station ol a Senator in
the Congress of the United States. This Com
mittee deny that, in the course this senator
has pursued respecting the abolition or mod
ification of the veto voicer. he consulted the
wishes, the interests, or opinions of the people
ol Georgia.
This Committee believe also, that the same
honorable Senator, in the support of the nom
ination of Mr. Everett, as Minister to Eng
land, consulted neither the good of the coun
try, nor the feelings and interests of a vast ma
jority of his constituents. The ground upon
which opposition to that appointment is based,
is believed by this committee to be a sound
one, which, if it had been carried out by the
rejection of Mr. Everett, would have exercised
a salutary influence in- bllnying abolition
movements, and thus have contributed both to
the peace and security of the whole country.
It does indeed appear somewhat extraordi
nary to this Committee, that while we are re
sisting the agitation of the abolition question
in every form whatever, ns unconstitutional,
dangerous, and tending to the dissolution of
our glorious Union, characterizing by the har
shest epithets, nil who, even by indirection,
give to it the slightest countenance, a southern
Senator should be found to contribute to the
elevation of one so obnoxious to our feelings
and so hostile to our interest, and particularly
of an individual who has avowed his aboli
tion principles, in their most imposing form
and amplest extent.
This Committee aTe compelled by an imper
ious sense of duty to express their unqualified
disapprobation of the course of the honorable
Senator upon the subject of a National Bank,
and the bill to distribute ihe proceeds of the
public lands among the Stales—the bankrupt
bill, the revenue and loan hills, deeming most
ofthem unconstitutional, and all of them un
just, oppressive and highly injurious in their
effects, affording indications not to be mishn
derstood, of the loose and dangerous constitu
tionnl opinions which he entertains.
While this Committee are sensibly impress
ed with the wisdom of the Constitution in pre
scribing such tenure to office as may guard
against sudden ebullitions of feeling, or the vi
olence of party triumph, they feel themselves
relieved from the delicate and responsible task
of instruction, in accepting the invitation of
the honorable Senator, in his address to the
people of the United Slates, wherein he in
vokes the action of the legislative councils of
the sovereign States of the Union. This Com
mittee, fresh from their immediate constituents,
and latest in communication with them, hum
bly claim to have ascertained the public will
in relation to those great questions upon which
the Senator has invoked the expression of that
will; and in obedience to the Senator’s requi
sition upon the representatives of the people,
to exert themselves to give it^ifect, they feel
bonnd, for the information of the’Senator, to
condemn, in decided terms, the 651*^ of the
Itoaorable Senator upon all the^'rgq^mensures
which are made the subject matteftof this re-
port. Nor can the committee enjtortam the
opinion, so adverse to the ca»ilo/^&f the Sena
tor in seeking the information, that the invo
cation was made, oh his part under any other
determination than to regard rts.obligatorv the
expression of the public vfill,^rnd to give ef
fect to that expression, or.to wield his place to
one who will. *
This Committee cannot withhold Ihe ex
pression of their approbation of the Executive
for his inflexible adherence to his constitution-
pi opinions, under the most embarrassing cir
cumstances, upon the street ofa Bank of the
United States, by which the country has been |
spared yet longer from the blighting curse ol
a vast monied corporation, with power to sway
the interests and control the business of the
people of every section of this extended repub
lic. And the measures adopted by the party
to which the President is attached, to bring
disgrace and disrespect upon their official head,
for the conscientious performance of a public
duty, are not the least among the alarming in
dications which, in the opinion of this Com
mittee, ought to excite the apprehensions and
enlist the cxeirions of the people.
The attempt m ade to bring odium upon
the Chief Magistrate, by contumely cast upon
him in the halls of Congress—in newspapers
of his own political stamp, repudiating the of
ficer whom they had elevated to power—pro
claiming him unworthy of confidence, for an
exercise of the very authority which he laid
always claimed, of repairing the breach in the
Constitution whenever an opportunity offered,
does exhibit a disregard of one of the depart
ments of the Government—a contempt for the
established institutions of the land, and reck
lessness of party spirit, so pregnant with mis
chief, that, if not arrested, will relax attach
ment to (lie laws, engender dissensions perni
cious and incurable among the supporters ot a
wholesome government, and operate to the
destruction of all moral and political obliga
tions—wherefore,
1st. Resolved, That this General Assem
bly, speaking in bcluilt ol the whole people ol
Georgia, declares its-undimtnislied confidence
m the confederated system, which forms the
Government of the United Slates.
21. Resolved, That that system, ;s it now
stands, purely administered, will protect the
rights, and secure the interests and happiness
ot the whole people of the United Stalls.
3d. Resolved, That the powers expressly
granted by the Constitution, and the exercise
of those without which the granted powers
caunot be carried into effect, are amply suffi
cient for till the purposes of an useful and effi
cient administration of our public affairs;
leaving to the States all the reserved powers.
AlU. Resolved, That the distribution of the
powers of the General Government into three
distinct and independent heads, Executive,
Legislative and Judicial, affords evidence ol
the wisdom of the framers of the -Constitu
tion, and is the only safeguard of sectional
rights, personal interests, and private prop
erty. and that’Ihe destruction or nndifi-
entiotrof the power of either, rendering it less
independent or less efficient in its operation,
would destroy the harmony and stability of our
whole political system.
5th. Resolved, That we view the attempt
now making to abolish the veto power of the
Executive branch, as a dangerous attack upon
the liberties of the people, and hostile to the
first principles ofa republican government.
6lh. Resolved, That we deny the right of
Congress to incorporate a bank of the United
States by the name of a “ Fiscal Agent, ’or a
“ Fiscal Corporation,” either in the District of
Columbia, or in any of the States, with power
to establish branches or agencies, with or with
out the assent of the States, as being miauthot-
iscd by the letter and spirit of the Constitu
tion, repudiated by the framers of that instru
ment, and as not necessary to collect, keep and
disburse the public funds.
7th. Resolved, That the act for the distri
bution of the proceeds of thu public lands
among the States is unconstitutional, was in
tended te lend the way to ,thc assumption of
State debts, and to create a necessity for a pro
tective tariff, and ought to be repealed.
8th. Resolved, That the system of legisla
tion by which the success of one measure is
made to depend upon that of another, is not
only improper and dangerous, but affords con
clusive proof ol the obnoxious character of
some, if net all, of the measures owing their
success to a species of political barter.
9th. Resolved, That onr Senators in Con
gress be instructed, atul our Representatives
requested, to vote against the establishment of
a U. States Bank in every aspect and by eve
ry name it may be presented; and that they
use their exertions to effect a repeal of the dis
tribution hill, the bankrupt bill, and so to mod
ify and reduce the loan bill and revenue bill
as to limit the sum raised for the support of
government to an amount only which econo
my in the public service may require.
l()th. Resolved, That a copy of the forego
ing preamble and resolutions be forwarded by
the Governor to each of our Senators and
Representatives in Congress, to the President
of the United States, and to the Governors ot
each of the States of this confederacy, to be
laid before the Legislatures thereof.
Bank cheeks, 70,000
Received advance from Merchants’
Bank, N. Y., 20,000
On bunk dividends, 12,716 30
Ordinary resources of the bank, 716,910 SO
$1,081,282 i)0
There are items in this report of the Central
Bank, which will no doubt lie explained by
the committee appointed to investigate the op
erations of that institution. One of them is
the sum paid for bills of exchange unpaid.
Now I will proceed to give my sketch of
the financial concerns of the state for the fol
lowing year. 1 will first take the state treas
ury. and then the Central Bank.
STATE TREASURY.
The liabilities for 1812, will amount to
$974 64 U as follows :
Current expenses of the government, 200,000
Interest on State bonds, 80,000
Due Georgia Rail Road Company, 60,000
Due Reid, Irving & Co. 380,000
Engagement for rail road iron, -5-1.610
$974,640
The resources of the Treasury, will amount
to $181,000 as follows :
Balance in the Treasury, Nov. 1, 1811, 31,000
Due by General Gov’nt tor Cr^ek war. 210,0(10
Balance of tax of 1841, to be received, 210,000
$181,000
Showing an excess of liabilities over the re
sources of $493,640, which will have to be
met with taxes or loans, or with both. I have
to remark that I have placed is a liability for
1812, the sum of $254,610 for iron for the
state rail road, which will be payable twelve
months after Ihe delivery ol that iron in the
United States; but it will be observed, that 1
have placed atitong the resottices of the treas
ury, the sum of $210,000, dim by the General
Government, which may not ie reimbursed to
Georgia for several months after the adjourn-
ment^of Congress in 1812. 1 shall now take
up the Central Bank.
, CENTRAL BANK.
Circulation, Nov. 1, 1811, 1,310.716
Ducto individuals by Central Bank, 100,000
Interest on S perct. state bonds, say, 12,000
$1,122,746
tirv. I must confess that I was surprised on
hearing members speak of the bank stock hav
ing been pledged by the legislature of Georgia,
to the redemption of the circulation of the
Central Bank. I will ask those members to
inform me how often that bank stock has been
pledged, and for how many purposes? If
they do not recollect any tiling about it, 1 beg
leave to call their attention to the following
among other legislative pledges:
I11 December 21, 1821, the sum of $500,000
vas appropriated, and invested in bank stock,
for the support and encouragement of free
sihools, and for the permanent endowment of
county academies. The sum of $500,000
was also appropriated, and invested in bank
stock, for the internal improvement of the’
State. What has become of the pledge given
hi 1821, and what has become of the hank
stock thus pledged ?
In December, 1S3S, Ihe faith of the state of
Georgia was solemnly pledged for the redemp
tion of $1,500,000 in scrip or certificates of
state debt, and the income, dividends and
profits of every description, arising from the
funds which, the state held in the Central
Bank, and from all other bank stock belong
ing to the state, were set apart and vested, in
the Commissioners of the Western and Atlan
tic Rail Road, for the purpose of insuring the
payment of the interest of the money borrow
ed. *
In December, 1839, authority was given to
sell the stock owned by the state in several of
the hanks, and the proceeds of the sale to be
come a part of the capital stock of the Central
Bank, and be under its control, and for its use.
In December, 1810, the directors of the
Central Bank were authorized to sell the stock
owned by the stale in the Augusta and State
bank, in order to discharge the debt due the
Phoenix bank of New York.
And now this hank stock is to be sold, and
the proceeds of the sale are to be appropriated
to the redemption of the notes of the Central
Bank. 1 approve thi$ disposition of the pro
ceeds of the sale ol ihe bank stock ; it may
have the effect of giving more value to the cir
culation of the Central Bank; and after this
stock is disposed of, no more will be heard
about it in our legislative halts; but the legis
lature, present and future, will have to appro
priate annually a sum equivalent to the divi
dends received heretofore on the stock, for tlie
support of schools and academies.
Bank from expanding the circulation and dis
counts of the institution, and to direct the di
rectors to collect the debts due, etc.
'The hill passed the.Senate to prohibit tire sale
of books, dec., to any slave or tree person of
color, dec.
A bill passed the Senate to remove all disa
bilities whatsoever from persons testifying in
any of the courts thereof, or having their oath
touching ar.y matt 1 or or thing where an oath
or tilliimutton is necessary to secure any right
or interest by reason of any religious opinion
such person or persons may entertain or ex
press.
Milledgeville. Nov. 21, 1811.
A motion was made, tins morning, by Mr.
Miller, to reconsider the bill tor Ihe organiza
tion of a court ot errors. The motion was lost,
yeas 32, nays 51.
The biennial bill was taken up, this mor
ning, in the Senate, on its third reading, and
ttie injudicious amendment to the cousiuiitiou,
by which, alter 1842, tnere wilt be biennial
elections and sessions of the legislature, was
consumed. On its passage the yeas were 75,
nays 7. This bill passed last year Lotii
branches ot the legislature, and as it has pas
sed both houses at this session, it becomes in
corporated in the constitution, instead ol the
provisions heretofore in force.
To meet this liability, the bank lias,
Not^s and bills discounted, 2.012 000
Stock unsold in Augusta aud State
banks,
Available assets,
Daiicn bank stock and notes, and
other uncurrent notes,
202,300
25,000
395,000
$2,694,300
? it appears that the Central Bank has
es amounting to $1,422,746, and assets
Correspondence of (he Constitutionalist.
M ILLEOGEVILLE, NoV. 19, 1841.
I have before me the report of the directors
of the Central Bank, showing the condition of
that institution on the 1st of tins month. 1
have also before me the reports of the Treas
urer and Comptroller General, the reports of
the commissioners of the Western and Atlan
tic Rail Road, and communications of the
Governor :u regard to the state finances and
the issue of state bonds. Well, notwithstand
ing all these documents, which purport to
give information upon the subjects for which
they were required to be laid before the legis
lature, 1 have been puzzled in my efforts 7 to
fil'd out the true condition of our financial
Thus
liabilitie
amounting to $2,694,390. But tjie question
arises, will the Central Batik be ever able to
realize, out of this amount of assets, a suffi
cient amount -o meet i's liabilities? There
is no doubt that the state will sustain a heavy
loss on the amount of notes and bills discouti
ted, and that a great loss inay also be sustain
ed on the item relating to the Darien hank.
1 stated in my letter of yesterday that Mr.
llorlon had been elected Surveyor General,
Mr. Sanford, Secretary of State, and Mr.
Haynes, Treasurer. Mr. Park was re-elected
Comptroller General, aud Park dt Rodgers,
State Printers.
Millkdgeville, Nov. 20, 1S 41,
Yesterday, in the House, an interesting dc
bate took place on the subject of authorizing
banks to issue notes of a less denomination
than five dollars. A bill was originally intro
duced to repeal the act 1832, which proven
ted the circulation of hank bills of under the
denomination of five dollars. Another bill
was offered as a substitute, which authorized
the banks to issue one and two dollar bills to
the amount of 3 per cent, of their capital stock
And another hill was offered as a substitute,
by which tire Central Bank was permitted to
issue one and two dollar hills, to the amount
of $300,600, with the intent to redeem the
same amount of notes of that bank ofa larger
denomination. .This last bill, alter a consid
erable debate, was received by the House fur
the original bill, and passed, yeas 99, nays 04.
So that if the bill pass the Senate, and is sanc
tioned by tire Governor, the Central Bank
alone will have the privilege to issue one and
two dollar bills, to the amount of $300,000.
Whether this hill will accomplish the ob
jects intended, time will show, should it be
come a law. For my own part lam still of
the opinion that no bank bills of a lessdenom-
Milledgf.vii.le, Nov. £3, 1S4L
Yesterday, in the Senate, the lull to repeal
the acts prohibiting priv ate banking and (lie is
suing of change bills, &c. was taken up, and
made the order for to-day.
The bill to reduce the tax act of IS 11, 50
per cent., was also taken up, hut laid on the
table in order to await the reports on finances,
ifcc.
The hill for the relief of those who have
paid a double tax in 1841, was rejected.
In the - House, yesterday, the bill exempting
the Justices of the Inferior Courts of this state
from military and patrol duty, was rejected.
But to show how members vote, when they ap
prehend that their votes may affect their popu
larity at home, whether such votes are in ac
cordance with tlteir opinions or not, 1 must
state the fact, that this bill, on a division of the
House, was declared by the speaker to have
passed; hut on the yeas and nays being deman
ded, it turned out that there were more nays
than yeas: some of the members voting against
the bill when their names had to lie recorded,
but who would have been willing for the bill
to pass without its being recorded that they
had voted for it. This is indeed legislative in
dependence with a vengeance!
The report of the committee on internal im
provements is enclosed, In the hill accompa
nying this report, it is provided, that the work
on the Western and Atlantic Rail Road, be
suspended from a point two miles northwest
of the Etowah River to Ross’Landing; that
the engineer corps be dissolved; that the board
of commissioners be also dissolved; that the
Governor be authorized to appoint one engineer
and one as. istant engineer, and one disbursing
agent; that all funds which may be paid into
the treasury, other than from taxes, be appro
priated to tiie payment of the public debt; that
the money thus received I c used for the pur
pose of paying the State debt to Reid, Irving
it Co., to the Georgia Rail Road Company,
dec.
This morning, in the Senate, n bill was pas
sed, directing the sale of manufactured articles
remaining unsold in the Penitentiary, by pub
lic auction, oil the first Monday in December
ill every year, the purchasers to give notes with
endorsers to the satisfaction of the directors of
the Central Bank, payable twelve months af
ter date, and the notes to be deposited in the
Central Bank, &.c.
A debate look place this morning in the
House of Representatives, on a motion to re
consider the bill to place the subject ot the
illation than five dollars should be permitted
to be issued by the banks; and if it be found
good policy to allow Ihe circulation of small! usury laws as they were under the colonial
bills, I am still of the opinion also, that all the j government. The hill was rejected yesterday,
Milledgeville, Nov. 25, 1S41.
Yesterday in the House, the hill to compel
the suspended banks to resume specie pay
ments, was taken up. The principal features
ol this bill are as follows:
If any bank refuse to pay specie lor its bills
upon the application of any person, making an
affidavit of such refusal, the Treasurer ol the
State is to issue an execution against tiie pres
ident and directors, managers and proprietors
of such bank. The execution to bo directed
to the sheriff of the county where such bank
is located, aud the sheriff is to make a levy to
tiie amount of 5 per cent, on the amount ol the
circulation the bank had at the last semi-au
mud repoit preceding the refusal to pay specie.
If no corporate properly is to be 1‘oiiud, the
sheriff is to levy said execution on Ihe private
property of the stockholders of such batik in
the said county. And if not sufficient prop
erty can he loni.d in the county where the
bank is located, belonging to stockholders,
thru the property of all stockholders, in what
ever country tin y may reside, is to be levied
upon. If any bank, alter resuming fail again
to resume, tire same process is to be employed
over again. All the money accruing Iron, the
operations of the bill, after deducting expert
ses, is to lie distributed among the counties
aid of Hie poor school system.
To that bill a substitute was offered by Mr.
Howard, which was read. The principal
features ol this subsli’ute provide for a more
summary process against defaulting banks.—
The jurisdiction of the justices of the peace is
extended to $100, in order to issue executions
on bank notes refused to be redeemed in spe
cie. If no property can be levied upon, then
the matter is to be laid before a superior court
by an application- for the winding up of the af
fairs ol the defaulting hanks, and the appoint
ment of receiveis. The provisions of the bill
to have effect after (lie first of March next.
Mr. Bartow then moved the indefinite post
ponement of the original bill mid substitute.
The motion was lost, yeas GO, nays 119. Sev
eral amendments were proposed, and rejected.
Mr. Barclay, who introduced the original
bill, supported it with remarks. In the course
of his speech he maintained that the legisla
ture of Georgia had a right, under our form of
government, to declare a bank charter void,
and to provide for winding them up at any
time; insisting that the legislature, in crea
ting those corporations, transcended the an
tbority delegated to it by the people in organic
laws ; that the legislature, in creating corpo
rations, parted with a portion of that in lie-
rent sovereignty which of right belongs
alone to the people; that it was an exercise of
sovereignty not delegated to the legislature,
and therefore that the profile of Georgia had a
tight, at any time, to regulate and control in
stitutions Kins created. He maintained the
argument, that the legislature, in declaring
those charters void, did not interfere with ves
ted rights, because if those corporations have
acquired any rights-under their charters, it
was so under a power not constitutionally del
egated, and assumed in contravention of the
organic law.
The House adjourned Inst evening without
bringing Ihe debate to a close. This morn
ing tiie discussion was resumed; hut a mo
tion prevailed to have the substitute printed,
and to make it the especial order for Tuesday
next.
The committee appointed to investigate the
affairs of the Central Bank, made a repoit,
which was ordered to he printed.
The committee on Finance made also a re
port, which was ordered to be printed.
Messrs, Colquitt and BUek.severally, after
the applause (with which the acceptance of
their nomination was received)?addressed the
meeting in their usual well known enthusias
tic, eloquent aud patriotic style.
Orr motion of Col, 8. D. Crane,
Resolved, Thai the Democratic Pnrtv of
Georgia, will meet at this Hall on the 29th
day of November, at 7 o’cloi k, P. M. for the
purpose of nominating nine Candidates to he
tun on the first Monday in October next, to
represent the people of' Georgia in the. Con
gress of the United States.
Resolved, Thai all the Democratic Mem
bers of tuis General Assembly do attend said
meeting, and that all comities in this State not
represented by Democratic Members in this
General Assembly, do send delegates to said
meeting, equal in number to their Representa
tives in tiie present General Assembly.
Resolved, That a committee of ' lie n n-
poiim d to draft an address to the people of
Georgia, setting forth the principles and ac
tion of the Democratic Party of this Slate, to
be submitted for consideration and ado; tion to
a meeting ot the Democratic Members of the
Legislature, at the close of the present session.
The Committee named arc Messrs.
McDouguld, of ihe Chattahoochee Circuit,
Murphy, of the Cowt la, do.
Hamilton, of the Chciokec do,
Echols, ol'the Western do.
L. Brown, of the Northern do.
Saffold, of the Middle do.
Broddns, of the Ocniulgec do.
Graves, of the South Western do.
Black, of the Eastern do.
Reynolds, of the Flint do.
Hilliard, ol the Southern do.
Resolved. I hat the thanks of this meeting
be tendered to the Chairman tor the able and
impartial manner he has discharged bis duly,
and also, to the Secretary.
Rcsoltid, That Ihe proceedings of this
meeting be signed by the Chairman, counter
signed by the Secretary, and published in the
Democrat ic newspapers of the State.
HENRY G. LAMAR, Chairman.
F. 11. Sanford, Secretary.
bauksshould possess the same privilege. But
the legislature may think otherwise. The is
suing of small bills by the Central Bank may
drive from circulation the trash which circu
lates in onr slate in the form of change hills ;
but I think that a large amount of such change
hills will l>e circulated ofa less denomination
than one dollar. Specie change will not cer
tainly re appear. Besides, we must recollect,
Bank. It is to be hoped that the legislature
will adopt so.r.e phn, by which, hereafter, the
condition of the state finances may be clearly
and accurately laid before the members at the
opening of every session. Before 1 proceed
in my statement, I must give an abstract from
the report of the Central Bank.
The directors state that the payments made
during the year by the bank amount to about
$l,081,232, ns follows:
Paid into the Treasury, $221 600
To commissioners \Ycstern and
Atlantic Rail Road.
On New York loan, in full,
On bills of exchange, uupuid,
Interest on foreign bonds,
Interest ou New York loan,
On picinium,
Loss on sale of bank stock,
Interest on domestic bonds,
Commissions, salaries, &c.
University of Georgia,
2S6.296
263,000
190,000
40,000
15,000
23,000
7,391
7.995
16.000
6,000
$1,081,282
The directors then state the means with
which the above were paid, as follows?
Sale of hank stock, $118,800
State 8 per cent, stock. 142,855
of a small denomination, had been productive
of fraud and loss to the public. 1 ' In conclu
sion 1 doubt of the policy of this bill in the
present condition of our currency.
Milledgeville, Nov. 21, 1341.
In the Senate, yesterday, the debate oil the
bill to authorize the sale of the bank stock
owned by the Slate lor Central Bank notes,
was brought to a close at about 2 o’clock,
when the question was taken and the bill pas
sed by yeas 45, nays 34. So that after a de
bate of two days, a subject which could have
l>een decided after a few hours of considera
tion, occupied the attention of the grave Sena
tors as long as if the fate of the nation dejien-
ded on the question at issue. In the course of
the debate many curiotls opinions were ex
pressed, may false positions assumed, mid a re
markable fogetfulness of past legislation ex
hibited ; and all about tiie selling of this bank
stock for Central Bank notes. It was conten
ded on one side, that this bank stock was
pledged fbr the redemption of the notes issued
by the Central Bank, and on the other, that
this stock should stand as a pledge to redeem
the faith of thu State in payment of debts con
tracted for money ndvauced to the public Irens-
and the motion of reconsideration this mot
tling was also rejected.
In the Senate, tiiis morning, the hr'.I to re
peal all prohibitions against private banking
and the issuing of change bills, was taken up,
and after some remarks by Mr. Jones, of Lee,
in support of the bill, a motion prevailed to lay
the bill on the table lor the present.
This morning, also, in the Senate, the bill
to organize a Court of Errors was taken up.—
Oil a motion to lay the bill on the table for the
balance of the session, the yens were 39, nays
39 ; but the President voting itt the affirma
tive, the motion was carried.
Air. Spalding laid on the table of the Senate
the following preamble aud resolution, which
were taken tip, read, and agreed to, viz :
Whereas, the people of Georgia have seri
ously suffered in consequence of the aliduc-
tion of their slaves to northern ports; and
whereas the existing laws provide no adequate
remedy for this evil:
Be it resolved, That the President appoint
a committee of five, to examine into the pro
priety of altering or amending the laws now
in force, so as better to protect our people in
the enjoyment ot their constitutionally sacred
rights.
And l>e it resolved, That such committee
report to this body at as early a date as practi
cable, the result of their deli Iterations.
Messrs. Spalding, Williamson, Walllmner,
Smith of Camden, and McDoivgald, were ap
pointed as that committee.
Air. McDougald introduced a bill more ef
fectually to secure the solvency of banks and
other incorporated companies, and to prevent
the same from suing in the name of any other
person.
Mr. Hamilton of Cass, reported a bill in re
lation to the Central Bank. The object of the
bill is to prohibit the Directors of the Central
From the Federal Union.
Eemocrutic Ejecting.
In accordance with a resolution adopted at
a previous meeting of the Democratic Party,
a iarge number of the Members of the legisla
ture, visiters, and several delegates from coun
ties unrepresented in the Legislature by Dem
ocratic. Members, assembled in the House of
Representatives for the purpose of nominating
candidates to fill the vacancies that have oc
curred in the Congressional delegation. Col.
Henry G. Lamar, Chairman, called the
meeting to order.
On motion of Gen. Robert M. Echols,
Resolved, That all persons present, attach
ed to the Democratic Party, he invited to take
seats in the Hull, and participate in the pro
ceedings of the meeting.
Ou motion of Col. John H. Watson,
Resolved, That this meeting will, by accla
mation, nominate Messrs. Colquitt, Cooper,
and Black, as suitable candidates to supply
tits vacancies in our Congressional delegation,
which was unanimously agreed to, aud a
committee consisting of
Messrs. Watson, of Muscogee,
Echols, of Walton,
Gray, of Jones,
Murphy, of DeKalh,
Ross, of Putnam,
Simmons, of Gwinnett,
Jordan, of Jasjier,
Patton, of Cass,
Cone, of Bulloch, and
lludd, of Houston,
were appointed to iuforin them of their nomi
nation, and inquire ofthem whether they ac
cepted the nomination, when Mr. Watson
from the conmifttee, reported that they had
called oil Messrs. Colqirrtl and Black, who
would accept of the nomination, and from in
formation received from Mr. Cooper, that he
also, would accrpt.
From the .Vote York Commercial Ade. of the iOth.
Arrival ot She t'aleilotiia.
Twelve days Later from Europe.
The C. left Liverpool at I I*. M. on the 4th
inst., arrived at Halifax on the 16th, at 10 A.
M., and at Boston on Thursday evening at
7 o’clock, tints making the passage in fourteen
days and six hours.
Our latest Loudon dates are of the evening
,n of the 3d of November, and of Liverpool the
hit.
The intelligence of McLeod’s acquittal, and
also of Grogan’s release, hud reached London,
and afforded the highest satisfaction. There-
port of the trial is published at large in the
papers.
The Lords of the Treasury have authorized
the admission of rough rice from the U. 8. at
oi.e penny the quarter.
A terrible fire broke out in the Tower of
London, on the night of Saturday, October 30,
causing tiie entire destruction of the grand
store house and small armory, with their con
tents. Among these, besides an almost innu
merable quantity of trophies, were no less than
300,090 stand of arms. The crown jewels
were removed in safety. The London Her
ald darkly intimates that the fire was not ac
cidental.
The abortive attempt in Spain had been
completely crushed. Montes de Oca, another
ofihe leaders, had shared the fate of Gen. Le
on. Lturitz was taken and in prison and
O’Donnell had fled. It is roufidcutlv affirm
ed that negociations are in progress, with fair
prospect^ of success, for a political amalgama
tion between the moderndos and the Carlisls,
to be co.netited by a marriage between the son
of Don Cnrlosnnd the young Queen ; the Dr u
formally abandoning all pretensions to the
lliriiiiein f.ivor of his offspring.
A conspiracy had In eu detected at Brussels,
and a quantity of arms and nmnmmi ion seized.
'I'll! ultimate object ol the conspirators was va
riously reported—some alleging that it was a
republic, others a restoration ofihe Dutch dy
nasty.
O’Uonnoll was elected Lord Mayor of Dub
lin without opposition. On being invested
with the robes ol" office, he declared his intention-
to act with perfect impartiality, and to dissev
er liinwlf completely from party in his official
capacity.
To increase the distress that forms so iarge
a portion ol the difficulties attending the posi
tion of Sir Robert Bed’s Ministry, it is now
said that the potato crop in Ireland is likely to
prove a total failure.
An extensive fraud in the issue of spurious
Exchequer bills had been discovered in Lon
don. The amount is variously stated, from
150,000 to 350,000 pounds.
Theodore Hook, it seems, has left his fami
ly—a widow aud five children—destitute.
'l’lio comments of the Loudon papers oir
the acquittal of McLeod, so far as we have had
time to read them — with the single exception
of the Times—.are written in a good, a liberal
and gentlemanly spirit, although they mani
fest a reluctance to dismiss the case entirely
without some reproaches of our governmental
system—which might be expected, and may
easily be overlooked.
The following paragraph appears ill the
London Herald of October 30. The Herald,
by the way, is.said to bn the organ ot Lord
Aberdeen, the Foreign Secretary.
We have reason to believe that if any
serious difference should arise between Great
Britain and tiie United States of America, rel
ative to the trial of McLeod, the north-eastern
boundary or any other question pending be
tween both countries, our Government lias-
agreed to accept tiie mediation of France,
which mediation has been offered ns a guar
antee of pence and good-will between Ihe
French and English Cabinets.
Ex-President Adana*.
The Hon. John Q. Adams has informed the
editor ol the Quincy Patriot, that he dees not
entertain the design which the newspapers
have attributed to him, of retiring from public
life at the end of his present congressional
term. He says a he shall be ready to serve
bis constituents, as their Representative to
Congress, so long ns they may require his ser
vices, and his health permits him to discharge
the duties of Ihe office”
- Iflilchcll Convicted of Forgery.
The trial of Mitchell, recently member of
Congress from western New "Y ork, terminated
on the 23d insi. The jury were out about
two hours, and returned a- verdict of Guilty.
His counsel have filed exceptions to the ver
dict. ■ i*S
> . Lu