Newspaper Page Text
EKBS
REPUBLICAN.
nr *
J. CLELAND, City and Covnty Prixter.
~~NOVF.AIBGR \T>,’lSB.
Daily Parrr. ** per Annum 6 months. < *
Counttj 3 per Annum : -for U laaath*, »J.
(I'AVVIl.r. ISC A'»\ VNt'K.)
Jfoos - «*4 *&* .tlr.rti'tmnt*, appro* in bn-.k Ttj.em.
O* office at tin* corner of Bay an I Uofl-atreetf, over
Mr. /. B, Oaitdry’s Store.
SavanutiU fflurket^ flfov*
(CORRECTED YYKBKLT.)
Tite con sequences tlmt followed were natural
and inevitable. The mean* in tho Central Rank
applicable to loan* which, had thcrctoforobeen ill*
creasing bv a rapid and uniform progression, be*
BUTTER—Go*hen7ao 9 37 «nu V >*■ „ ,, Oieneo forth liroRrcwiun. began thenceforth pro-
BilANDY—Coen." nh prunf, *1 40 » 17S V *»Dl gre>«relv In decline ui amount. In tb.’ 6r«t year,
BAGGING—Hemp. 40 inch, IS * 2* V J* n |-
us tv HOPE—^ lb, 7 ® W cents.
BACON-Ham*. I* W I® » H «"“• 81 ‘• u,acr •
anJ Side.0 . ...
BEEF—Mot, *1“ r bhll Prune, . .
BREAD-Nary, »■' » S| **'"•' » ft.* ’
Cracker.. Uuller, 7| 9 8 oenu 4 in-
BilANDY—Copiae,4thpi—. j,- v
Domestic, 30 3 63 cents; Apple, 43, 1 eaui,
CROCKERY*—Per cent. aJ*. 30 ® .
CANDLES—Sperm., 49 it 50cenu V 16. (Jeo.pa,
211 Northern, 00, lv m
CHEESE—Northern, 10 • 19 entuV J».
COEFEE—Inferior to fur. Ill * w raiipSi
«ea Wr to prime. 19J * 13 i rhmee, 0011 or-
COAL—Li"ftf^1,«10 r chaldron.
COTTON—Upland, 10J « 12J V ft# Sc» MmmI» -4
CORN—CaTgn, 00 rent. V bushel; reUil;83 9 93
FLOUR—Bwlitnore, Howald-at. J7 73 «• *9 » I W-.
Philadelphia and Virginia, #7 73-9 S3,Canal,
*9 30.
HAY—Prime Northern. r>9 9 73 cent*.
HERRING—Smoked. 4* bo., 73 9 100 cent*.
IRON—Swot. l» tor no ml 1(0.
LEAD-Pie and Bar, 67 a 8.P tail Sheet, »8.
LARD—IS ft. 14 9 ltjcettta.
LIME-V bbl.. 103 9 175. . ,....
LUMBER—Yellow Pino lUnmnf Timber, 6 o *10
V M.i Steam Sawed. IS **£ Floormc Board..
20 7t 25; River Lumber, Boards. Plank and
Scantling, 13 9. 10; J inch Flooring Boards, 15
9 16; white Pine, clear. 20 a 25; Mendum-
able, 14 3 IS, Slave., Red Oak, 00 9 00 V
MACKERElSso.I.'#Mi No. 2, #W; No. 3, »00.
MOLASSES—Cuba, 4* gall., 30 » 31 ccnUj New.
Orlean.,33,
NAILS—Cut, ,4d to 90d. 8 cent. P IB.
OSNABURGS—1> yard, 8 9 ljoenu.
OIL—Spenn., Winter Strained. 00 V galLi Fall do.
II 23 9 11 30; Lin.eed.95 9 100; Retired
Whale, 30.60.
PORK—Me... PbbL •21; Prune, 117.
PIPES—P eroce, 50 » 60 cenu.
PORTER—P doien, 13 a 13 25.
PEPPER—Black. 9 lb 10 a 11 cent*.
RAISINS—Malaga. Bunch, 1 73 O «.
RICE—P 100ft, #3 * 93 23. _
RUM—Jamaica, P gall. 125 9 140; Ncw England.-
SUOAR-^Moicorado, P ». 8 » 10 eenu: Pono
Rico and St. Croix. 9 « loj; Havana, \\ hue.
13; New-Orlean., 8 9 9; Loaf. 13 9 16;
Lump, 13 ® 14.
SALT—Liverpool coime, p wick. 136 9 173.
8EGARS—Spanish, P M.. 19 9 18; American, 2
8H0T—All .lie. P IB. 8] cenu.
SOAP—American Y'ellow, 6 3 8J.
TALLOW—American, 13 9 14 cents.
TOBACCO—Georgii, none; Kentucky, 10 & 12:
Manufactured, 16 9 22; CarendWi, 30 9 40.
TEA—Soochong, P lb, 29 9 33 cenu; Gunpowder
and Imperial, 60 3 05; Hyson, 50 3 65.
TWINE—Bagging. P IB, 18 3 23 cent,.
WINE-Madelra. P gall., 12 9 #1 23; Tener.tle,
LP.19 119, Dry Malaga, 40 9 43; Sweet
Malaga, 43 3 30; Champagne, per doien, 6
4) 13.
WHISKEY—Philadelphia and Baltimore, P gall.,
40 ® 43cent*. „
FREIGHTS—*Tn Liverpool, doll at \& P It; to Ha-
rre, lc. P It; to New-York, 73 t ents P bate.
£XOHAN«*K—On ifingtoud,nominal; Dratuon N.
York,60 day*, 1®1$ per cent, di*.; 30 day*, 4J
a 5 per cent, prem.; 5 day*, 8 p«r ccut prem.;
at tight, 9 a 10 per cent prein.
They cnnditiito in fact, so milch money, in hand,
tho ieni|ilatiou to resort It) which ia greatly an-
haiiced hy il* very neconiblonoM, and tlte eon*
veuieitce with wl.i’rh it may b tuned to moot the
current exigencies ofthoGovernmept. There won
Bo yielding however to thin temptation until the
session ofl8X». Up to that time, the fluid which
tho Bank was enabled to employ in loan*, so far
from h&\ ing been diminished oy diveraiona to oili
er purposes, had progressively increiisod, uutil it
roachoil, at the date of tho Directors* report for
tlmt year, the amount of ^1/^33.049,07. This
bVogreoaive increase shows, not only that the Itin.l
hnJ not then been touched for the annual expen
ses of the State, but also, that for the six preced
ing years, there had been ttuifonn exce wes of re
venue beyond tho disbursements of tho Treasury.
For il was from tho addition of these annual ex
cesses to the Rinds previously possessed by the
Rank, tlmt tho progressive iticrcnso ofits means
of discounting resulted. But in tho yesrl83o»
tho State, seeing itself possessed of nearly snub
ijon and a quarter of money* for which it had no
othor use than to accommodate tho people whiUi
loans, was lod to discard further reliance on the
S eneral taxation of her citizen*, and to surretider
ic whole of the revenuo from that source, to the
respective Counties, in which it should ho raised.
From that day, the annual fiscal incomes of tho
State have been inadequate to her annual expen
diture, and she has been driven to subsist by con-
sinning even* year, somo portion of her capital
previously accumulated and lodged in tho Ceutral
REMARKS.
COTTON.—The demaruUor Upland since
our last report has been goo^md prices have ad
vanced J to 4 cent per lb. for tho better qualities.
The sales reach about 3000 bales, at prices ranging
from 9 to 11 cents—p/Rieiyally at 10 to 11 cents.
There was a small lot of Sea Island sold at from
24* to 374*
Wo take tho following statement of the receipts
of Cotton from the Savannah Shipping if Com-
gre .— .
(from November 1835, to November, 1830^ they
sunk from 047, down to $1,192,047. In
another year, 1837, (aOerdeducting$1,051,422 03
United States deposit of jnrpltts revenue, and
$230,000 borowed by the Bank to carry out tho
distributions of that year,) they wore reduced t«
$1,022,034. Ami hy tho end of the third year,
1838, (after deducting again tho aforesaid United
States deposit,) they were reduced as low as $900,-
19), without taking into the account the sum of
$25,000 borrowed iluriug tlmt year, under on act
of tiie Legislature, in order to meet the demands
upon the Treasury and, which bcit^ taken into
tlio account, demonstrate* that tho joint effect of
tlio surrender of taxes, and of tho encroachments
of sppropriations has been iu three years, to re
duce th edur Umincumbtnd rmmini capital of the
State, in the Central Bank applicable to loans, from
$1,222,199, at wliich itatood in November, 1835,
to $175,199, at which it stood in November,
1838.
It is true, that this rapid diminution is mainly
due to the noble part which Georgia, as a state,
has token to herselfin the execution of that mag
nificent and invaluable system of Infernal Improve
ment, which contemplates, and will ere long rea
lize a thorough commcrciu! connection between
the water* of the Tennessee, and her own navi
gable water*, both interior and maritime. But it
is also true that the whole of the diminution is
by no incani chargeable to ibis account. On tlio
ermtrary, no mean fraction of it has proceeded
from the insufficiency of the annual revenue,
(since the aforementioned surrender of all tho
g eneral taxes) to meet tho yearly expenses of tho
tate, disconnected with that work. So tlmt even
if that great enterprise had never been espoused
by the State, her monied wealth in the Central
Bank was nevertheless already doomed to certain,
though slower absorption, hy the fleeting and
less worthy object of every day expenditure.
For the land fund wus drawing near to the period
ofits final exhaustiou, as a source ofincomo; taxa
tion, a* already noticed, had been formally discar
ded hy law, consequently, an era was at hand, in
which the whole reliance for fresh receipts of reve
nue would bo thrown on the profit* made by tho
Central Uuuk, and the dividends on tlio Bank
stock owned by tho State, which fogethcr averag
ed but $131,099 51. for tlio ten years ending
November, 1838, and could not bo expected to
produce, at the utmost, more than ,$200,000 per
annum, even after the addition of the United States
deposit to the fund* of tho Bank in 1837 had near
ly doubled its incam of business, and of making
profit*. Whereas tlio expen*e* of die State iij
1038, of n permanent and ordinary character, in
cluding those connected with the subject of educa
tion, amounted to $228.20537 and were ofa nature
to ho considerably Mgmcntcd hy the giauuui
enlargement of oiir population, and tiie conse
quent increase of tlio expense of somo of die
branches of Government. Whilst an augmen
tation of annual expenditure would then be going
on every year would subtract something from the
cnpital of the Central Bank, und thereby causo a
diminution of die future revenue from diat source.
These facts all go conclusively, therefore, to show
that so far from die system or tho Central Bunk
having any merit on the ground of its tendeue
tier die system of the present Central Bank sprang
out of this latter surplus, nud out of the expecta
tion, afterward* realized, of othor surplusset to
ciMi and what have been die workings and ef
fects of dial system,in reference to tho three great
objects of linatiri.nl profit, general commercial
utility, and tlio safety and preservation of tho fttnd
itschconiiiiilti'd to (he management of die Bank;
and further—the demerit* of th© sold system, <in
its bearing on all threo of these objects,liavo been
demonstrated to hoof such a nature as decidodly
to require tho discondtmanco of it, evon on die
supposition tlmt die present and prospective con
dition of the finance*, furnished a basis on which
it might still stand mid ho kept in operation.
Built ftirtiishcs uo such basis. Thu whole sub-
stratum al'fact, on which die Bank was,in the first
instance founded und on which alone it has been
at any time, intended to rest, hasbeeu swept ft om
under it by that course of events which has disa
bled die Statu to bo any longer a distributor of
•nrplus aRftiey, in Iwau* turning the people. For
die Bank was created solely because there was a
-surplus tlmt might ho used in that way, and the
{ [rent function assigned to it was, that of a mere
oan office, to employ die money, constituting
that surplus at interest, with as equable a diflii-
siuu a* possible among die citizens of the several
counties, and under a strict limitation, not to ex
ceed in the amount ofits loan*, die amount of ac
tual inouev of which it should bo placed in pos
session. Nor is diis limitation "at all contravcuod
by the allowance given to it to issue its owu hills,
iua<miuch os along with diat allowance, there is an
express requirement that it shall, in caso of avail
ing itself or that privilege, always retain on hand
other money equal in amount to the whole of its
owu notes iu circulation. By diis restriction,the
Bank is constituted in effect, a louder of capital
merely, oscontradiilinguished from credit, and i*
compelled to cease entirely from’ tho business of
lending, die moment it no lunger has, in the form
of money, a surplus not wanted for the disburse
ment* ot Government.
Well, a period has arrived.when it no longer
possesses, or lias the prospect of possessing, unv
such surplus. As rapidly, and even more rapid
ly, than it* mean* heretofore distributed in loans,
can be realized by collection« r they are impera
tively wanted for die exigencies of die Govern
ment. Tho treasury now, itutead of being as
formerly oppressed widi a financial plothora, is
money less, and compelled oftou to knock at the
door of die Bank without boing oble to obtain eith
er the lar^esums or die pittuuccs, which it seeks
to relieve it* fiscal necessities.
Had such been tho condition of tho fiuance/in
1528, die idea of creating an institution of Uio
character of the Central Bank) could not have
found entertainment in tho wildest imagination.
erect a loan-oftico. without having, or hoping to
hope to have, ought to leud. But diat very state
of things, which, had it then existed, would have
rendered the establishment of tho Bank a causo-
less and absurd hum-tiro, has now taken place
with every appearance of permanence, and having
so taken place, renders die policy of keeping up
that Institution, equally causeless and absurb.
The whole ground work on which it was built lias
been sapped and taken away wKhin the lost tiuce
years; tlio only func tion for wliich it was ever
deouied of any worth has ceased—has become
practically dead from die failure ofits proper pa
bulum; it can no longer command any money to
lend. It ha*, therefore, in point of fact.- reached
die full cml and term of being which belonged to
its nature, however it may retain a nominal exist
ence, in point of law, and it has dins become &
mere profitless and costiy excrescence on our
financial system, and uo reasons can bo ossignod
to justify itB retontion there, or to rebut tho stroug
id
%
exciuiou.
In the mid a of .uch financinl iliflicnhie, as havo
recently head iho rilalo, anil which Mein, to hover
aUo over our futnrecareer, diOicultic. moil inop
portune in the era on which they have Ihlltui—an
em characterized by it mighty and consentaneous
ctforl on the part of our people and tiorerntnenl,
to placo Georgia on tlint glorious vantage ground
ol'Counncrciat mid Political grenlneis, lo which
horgeogruphical position and capabilities demon -
Wards developing tho vice, bfotir Aiinncial man
agement for tho last few rears, and Inward, plac
ing in ti clear light, tho nature of the financial ditll-
cullies ill which the Slate is notv involved, togeth
er n ith the immediate causes from which they
havo sprung, and din proper means of extrication,
fib he ronJiaard.)
SAVANNAH!
MONDAY EVENING, NOV. 93, {839.
ICT Subscriber, to ihe /Au'/y KrpMican ill die
Western and South-Western parts of tlio city,
who do not receive t|ioir papers, will pieese send
for them, as the Carrier is sick.
KT Wo are compelled to lay over one or two
Communications, which will appear us suouha
tre can find room for them.
TIIE BRITISH-QUEEN .
Had not arrived ot New-York, up to 3 o'clock
P. M. on Wednesday last.
In relation to this vossol, tlio Now-York On-
uttt of Tuesday, remarks—“Wo havo informa
tion which leads as to the belief that silo did not
sail ou tiie day appointed for her depnrturo—pro
bably not before die 3d of the month.”
THEATRE.
Wo again, on Saturday evening, witnessed
StiiRiDKa Kvowi.es’ Play of Tils Lore CAase,
with increased gratification. MV. Founts played
the unsophisticated llVJmke, ns tho author, we
think, intcudcd it should lie plnyod. Mr. Pxan-
sos, as Muster Truuco/tk.lias improved much since
this piece was first produced hero. Mr. Madi
son's conception of Mnitcr tl'ahcr was good | and
ip our opinion, Mr. Colliss performed Sir Iftl-
liam Fumllore better than any other pari in which
wo havo yet aeon him.
Mrs. Battuta's performance of Neighbor Con
stance was, like herself, admirable. This Lady is
decidedly talented—Iter reading is always comet,
and hor conceptions just. Tho more wo sea of
Mrs. BAitMn. the more wc Uko her. Tat I Fid-
oio Oran, by Mrs- Rivans, was personfied with
groat fidelity; and Mrs. Clcvx displayed much
feeling os Ly/io.
We perceive that Master and Alias Wklis will
make their first nppearanco hero, dds evening, in
the celebrated Operatic Ballot of l-a Ilapulirc.
Their reputation is already 'established, built in
Europe and America, and we trust a Savannah
public will not f til to putronizo talent while they
have an opportunity.
Sir. Foiues has been requested to come among
us for our own amusement; ho has done so, with
u highly respectable Stuck Company, each desar-
ving die patronage of a liboral community. Wo
trust they wilt not bo disappointed.
PROFESSOR ESPY AND TIIE FIELD
FIRES.
For a week past wo have been sttlfocnted with
smoke from the bnming fields around the city;
last night it was succeeded hy high winds, and this
morning hy a cold drieling rain—this seems to
verify die doctrine of Profossor Espr.
There are no doubt hundreds of acres on fire at
once around diis city, wliich would go pretty far,
we should think, to make otto of Ilia experimental
fires. Coma and sec us Mr. Esrr!
trebly destine her, if who be but true to herself—a
uiupusition for winding up an institution, which
mrnull List, at tlio ploceo mentioned,
siuce the
1st of October:
1839.
1338.
Georgia, Not. S3
10756
32065
South Carolina, Nov 15,*
21556
21902
Mobile, Nov. 9,
1139
0324
Now.OdIuu, Nov. 0
93844
451
5022 J
5299
NordijCarolinn, Oct. 19,..*
34
000
Virginia,
ooo
000
Total
...127779
118812
• The following is a statement of the
stock of
Cotton on luuid at die respective places named:
Savannah, Nov. 22
3179
17042
South Carolina, Nov. 15,
.....13163
17392
Alobile, Nov. 9,
1922
3923
New-Orlcans, Nov. 9,.. • *
72G40
33370
Virginia, Oct. 1,
500
762
North Carolina, Oct. 26,..
500
800
Augusta and Hamburg, Oct. 1,. ..6193
6738
Macon, Nov. 1,*.......«
......5585
3000
Florida, Oct. 1, .
650
1000
Philadelphia, Nov. 9,....
200
600
New-York, ov. 0,.
9000
11000
Total,
....113532
98057
RICE—For this article die past week, there has
been a good demand, and sales are about 700
casks. We quote—$3 a 3 25. "
CORN—Retails from stares at 83 to 95 cents
n quantities to suit purchasers.
FREIGHTS ore dull. To Liverpool jd V
lb‘.; to Havre 1 cent; to New-York 75 couta
bale.
REPORT
Of the Commissioners appointed by nnllmrity ofthe
Ltgitdalure,on lie subject of the Stale Finances,
[coxtisukd.]
- THE CENTRAL BANK.
In relation to thb third ground on which its
founders and advocated leave based their support
of it os a scheme of finance, its tendency, namely,
to secure die integrity and perpetuity of dm fund
itself, thus employed in loans, it ia n ground which
seems quite as untenable as thos8 of wliich wc
have already disposed.
For examined in reference to this point, die
system is liable to the. strong objection of expos-
jng Iho integrity of the fund to foauidablc peril,
from two causes1st. from, encroachments
hy. Legislative appropriations, 2div, from diinitiu-
tions by losses arising from bad dolus. In or
der to a just appreciation of die first named d m-
ger, it is only necessary to advert to the fact that
alt the monied funds nt any time in the Central
Hank, or expected to he there, are always at tho
. ibsolute disposal of die Legislature! liable-to he
Averted, at the will of. that body, from their ori-
.•Joal destination of lo.in* to the people,’ and to he
Hibjectod to .otherappropriation*, oifhor for or-
djnary or exlnorJitnry object* of expenditure.
u»n
cord* of dieir respective counties. Tho means of
judging possessed hy the Directors of the Bank
on Uiis head on the 5th November, 1838, brought
diem to the conclusion, that only $1,019 98 of
the discounted paper tiion held, ought then to be
set down as had and lost debts. Whether the
State has been thus fortunate as a money lender,
or to what extent she has been unfortunate, can
noverbo determined with any precision, until the
chaff shall be sifted from the wheat, and tiie good
grain gathered into tlio gamer, upon the final
winding up of die institution, and die collection of
its available assets. For tho pre*eut, tho reflec
tion can not bo repressed, that if it should turn out
that, in a busine** running through ten years,
amounting in die aggregate to $11,975,985 73 of
discount*, tl»e great mas* of which was upon ac
commodation paper, of five years time, o loss of
no more than $1,019 98 shall be sustained hy
reason of hail debts, it must forever, he regarded
as something quite miraculous in tlio annuls of
money lending. That no such miracle, however,
is destined to he recorded, is strongly indicated hy
the fact, that of die $1,817,199 90 of discounted
notes held by the Bank on the 5tli November,
1838, the sum of$402,803, was then lying over,
dishonored, und $70,215 23 was in suit. And of
$134,421 G1 of Bill* of Exchange discounted and
held hy the Bank, there was at tlio samo date,
$112,239 27 lying dishonored, und $12,432 34
in suit. Thishugo proportion of dishonored pa
per is indeed appalling, and augur* a heavy. ulti
mate loss to the State. Uiidersuclicircitmstauccs,
it is consolatory to cling to die hope held out at
tho dute of the annual report of 1838, tlmt only
the trifling sum of$1,019 98 will be ceriainly lost.
The fact* and observations which have now
been presented, show in what manner Georgia
became possessed of that surplus of public money
which formed the foundation of her present pro
perty in Bunk Stocks; what were the fiscal fruit*
of that mode of investment; huw Hoonufler it wax
cafried up to the maximum at which il still re-
'mains,* a second surplus ofa considerable amount
rapidly grew* up in the Treasury j in what man-
_ _ . Winch
mis been, tor more than ten years the great de-
- * inlth/i
. . ... « trary
in operation hut u very few years, before it gave
rise ton policy, that in the course of somo dozen
or fifteen years more, would have caused tho
whole fund previously accumulated to have van
ished in the ordinary unnuul disbursement* of die
Treasury. Fortunate, indeed was it for dio lasting
grandeur and prosperity ofGeorgin, that so soon
after this process of petty evanescence commenced
the great project of the Western aud Atlantic Rail
Road intervened to claim and secure tou noble
work of permanent public utility, a largo propor-
don ofafund destinedothcrwi.-o to have beeulcta
worthily spent-
Of die second great ccause which exposos tho
public money employed by die Central Bank to
insecurity and diminution, namely-the danger of
losses arising from had and irrecoverable debts,
nothing that is at oil precise or satisfactory cun be
said. For how is it possible for the members of
the Finance Couinusrion, or tho officer* of, the
Bonk, or any other person or persons to whom
such mi # nquiry should be referred,to pronounce,
with even a tolerable approach to certainty, on
the goodne** and collectability of $1,817,11)9-90
cent* of accommodation note* in sinull sums, dis
chargeable in live years, and by five equul pay
ment*, from the date ofthc original discount, die
makers and endorsersof which, are dispersed over
th© whole State, aud of whose character and con- — ■ -
ditioti in die main, nothing can be known, except/ Which being deducted from the rtggregnto capital
what can be gleaned from the tax hooks mid re- stock of the Bank, to wit, tiio above stated sum of
lintllhl. Tho mnaita nf ill tvil *JKI lonvna ilia mint Vi ‘IVI III”. 7i!
f 1
ill ,
povitory and manager of her fiscal wealth/excites
u most interesting enquiry:—Namely, what is the
State worth, in a strict finincinl sense /
A satisfactory answer to this enquiry, can only
ho made bv stating and nrrayin^ against each
odier all tho existing asset* & liabilities of the
Suite—an attempt to do which, based upon tho
data contained iu on informal statement furnished
by die President of the Central Bank tb this Com
mission, showing the condition of that Institution
on the !0th of October !*ni, and upon such other
data as could be obtuined, and were upplicable to
the subject, will bo found in a subsequent part of
this report. At present wo will look into tiie
President's statement, simply with a view to as
certain die amount of sound means available, for
Uio fiscal want* of tho State, existing indie Bank
on that day.
By diat statement it appears, that on the 10th
day of October last die whole amount of stocks,
debts, and cash assets iti die Central Bank, con
stituting its Capital Stock, amounted to die sum
of$ 1.541,300 29from this aggregate tho suin
of$198,194 53 is liable to be deducted on account
of unavailable stocks and bad debt*. Tlio unavail
able stock*, i* that of die Brunswick Rail Road
and Canal Company $50,00000
The bad debt*, falling under the
head of die Bonds and Note.) receiv
ed from die State, amounted, on tho
Otli November, 1838, according to
the report of the Committee of Inves
tigation, to die sum of
By thesnma repo it, the had bahts,
under the bend of Notes and Bills
Disccanted,amouutcd to 1,61998
B id debt-', under the head of Notes
ou tho Bunk of ALicon, amounted
to ....294 00
’Making tho unavailable stocks and
bad debts amount to $198,194 53
146,280 55
$1,541,300,29, leaves the sum of $1,353,105.7(1,
uh die sound and available cnpital owned by the
the Stato, nnd existing in tlio Central Bank, on
tho 10th of October last; of which $1,005,000
consists of tho State's shares of stock in dio Bank
of Augusta, the Planters’ Bunk of Savannah, the
Bunk of Uio State of Georgia, and tho Bank of
Durien, which, if deducted, shows that tho St.ato
possessed on thatday, only a capital of 348,105,76
besides hor Bonk Stocks. But if wc treat the
United' States surplus revenuo deposited with
Georgia, amounting to $1,051-422,09, as means
available, for our present and prospective fiscal
exigencies, very iniicli in die same manner as if
it was the capital of die State, (.and there seems to
ho no reason why it should not ho so regarded,)
and add to it the last stated sum, it shows $1,399-
527,85 as the aggregate of the available means
held hy the State iu die Central Bank, indepen
dently of her nforeinentioued Bank Stock*
amounting to $1,005,000.
And hero wo are at the end of all tho fiscal re
sources which die State possessed under existing
laws and facts, except those which are to be nought
for in tho pocket* of her citizens.
For a* there has already been occjisions to re
mark, taxation and die land fund, which were,up
to u recent date, tho ino»t productive branches of
revenue, have ceased to he operative; tho former
having been cut off und dissipated among die
counties by Legislative act, with the exception of
the tax on bank stock, and one or two worthlpsg
items besides; whilst the latter is lost and gone,
irrecoverably, hy mere exhaustion.
Under these circumstunces, die whole weight of
every deportment of public expenditure, has ne
cessarily fallen on tho only remaining resource—
tho menn^ in the Central Bank.
Such being the Diet, it is ofno great moment to
enquire to wimtHpecinl objects, certain portions
of these funds have been set apart hy laws found
ed on a by-gone state of things, but which havo
sunk into ndcud letter under tho heavy pressure
of present contending wants. Nevertheless, a
retrospect of this kind may not be unuscful to-
FINANCE COMMISSIONER’S REPORT.
Our readers will perceive, as wo advance iutho
re-publication of tins able and elaborate report,
that it grows, rather Uian diminishes, iu interest.
The portion which we printed in die lust number
of our paper, takes a most scathing review of die
proceedings of dm Central Bank, and lays bare a
system, of what the Commissioners do not, but
which thn public will call, baro-fuccd favoritism
There arc dines when Uio public lire not look
ing upon Banking institutions with purdal eyes,
and wo mistake die temper of tho times, if tin*
able State paper, does not cut out some warm
work at Millcdgcville.
When the conclusion is given, we will bo hot
ter able to form an opinion of the whole, and
then we shall recur to tlio subject again.
MR. SPRINGER OF THE GEORGIA LE-
GISLATUttE.
A member, with the above euphonous and
elastic name, has introduced u Bill into the Legis
lature of Georgia to exempt all good citizens from
the Poll Tax, except Doctors ash Lawyers.
Now, why does Mr. 8pRWOEnwishto clap die
whole head tax of the State upon tho polls of tlio
Doctors and Lawyers l Is it because they are tho
only ones diat have any brains in them, iu his part
of die country T or ix it because there are the only
classes tlmt live by dieir brains, aud Uieroforo lie
would tux their heads ns Uio only ones^ coming
under die clause of productive labor?
Perhaps he wishes bis tax to operate os a prohi
bition upon the article taxed, and Uiu* pat a stop
to die alarming increase of these sort of cattle, or
perhaps he think.* them the most available source
of revenue, and the only ones capable of payiug
a tax in these agrarian and Loco Foco times.—
Wo shall look out anxiously for the gentleman’s
speech to learn his views, and see wliich of all our
conjecture* are correct. In die mean time there
is a class of heads wo would recommend to hi 8
notice, if his object bo revonue, thoy havo long
appendages to die member proposod to ho taxed,
am! forma very numerous class—perhaps if he
will cast his eye uround that august body of which
ho is a member, ho may see some—if he still has
any difficulty in recognizing titem, we advise him
to buy a looking glass.
TIIE POLICE OF SAVANNAH.
I* it not time that our City Conncil, or if it does
not full williin dieir powers, the people themselves,
were taking some steps to orgmiizen more efficient
Police. We have no coinpluiiits to tnuke of our
excellent Night Watch, hut this is hut a part, and
a very small part, of such an establishment as our
city requires. Look ot Now-Orlcans, formerly
the scene of daily riots, debauchery and murders;
now, the best regulated city in Uio Union. No
mun appear.* there now without Home visible mean*
of livelihood, and that pursued industriously and
systematically, without his making hi* acquaint
ance with “ tlio Charlies,” anil in tho end, with
Mr. Recorder Baldwin. By the very last Polico
Reports, we find that several persons wore impris
oned and brought before that excellent oflicer,
lor being found loafing during die night. Look
too, at Havana—but lately, even worse than New-
Orleans, which since the appointment of Gov.
1 Acojf aud his successor, has become one of die
most peaceable and orderly citica in the world.
Tho veiy loafers thrown off and driven away hy
those regenerated cities, will crowd into Sayan-
nali and1 Charleston, if they are not protected by
nil efficient Day Polico, as well as Night Watch.
Lot us then have it—lot us have a. Rccordor, or
Criminal Judge, for the city—a Polico Court and
Court of .Session*, and lot us know every man’s
business among u*. Some twenty or thirty
, yugt
lesson upon this auhjAct, and wo iind better pay
for mi additional number ofofliccrs, than havo it
taken from our pockets, whether wo will or not.
It koenis to us that tho incendiaries, like tho
fashionable folk*, travel to tlio North during die
sickly season, and return again with the frost.—
Let us dien make ample proviaio^ for thrno er
rant gentry, tuid try If wo too, cannot purge our
city. If tho expo n*c be too grout, let 4he Mayor
call upon tho citizens for a voluntary constabulary
■force. tyow-Orinnns has such a one, oven in ad
dition to her admirable, regular Polico. Why
cannot Savannah do likewise ? Finally—wo re
peat our former Injunction upon our pnblio au
thorities, to make the first frv i the time for a gener
al rout among die loafers.
Let every good citizen, too, kcopUU eyes sharp
ly about him at the first and ovory succeeding Are.
Examine every man closely retreating from dio
direction of a fire, as well as tiio*e over-zealous iu
suggestions at the sejno of action. If any man
knows the whereabout* of a suspicious character,
let him fasten his eye upon him, and when die
alarm oC fire is given, go right to his lodgings und
enquire of his movements. > Even two or three
active, scgacious men, would be very dangerous
to tiieso gentry, if autiiorizod a* a committee of
safety hy tho proper authority. One ounce of
pretention le worth a pound of cure.
NEW-YpiUL
Tho ofiloiul returns for members of tho Legis
lature are nil in; the following is die final result:
Senate. House of Representatives.
Whigs, 20 Whigs, 70
VanUureiutes, 12 Van Burenites, 58
Whig majority in joint ballot, 20
[communicated.]
If dial cotton matter of your last Thursday's
paper, who can roar and puff liko a steamer, will
promise to move steamers by the exertion of his
kings, he may bo engaged to be' use Ail on Sun*
days. TIPTOE.
Correspondence of the Augusta Chronicle if Sentinel.
MILLEDGEVILLE, Nov 20, 1839.
IX SEXATE.
Rcconsulcrations.—Oh motion of Mr. Bmtihatn
so much of die journals as relates to the passago
ofthc bill to alter die 3d, 7th and 12th section* of
tlio 1st and 2d articles of the Constitution ol this
State.
On motion of Mr. Stanford, so much of die
journals a* relates to the rejection of bill to amend
the net incorporting the Habersham Iron Works
and manufacturing Company.
Bills reported.—By Mr. Ilolnwny—to compel
persons to givo testimony to iuterrogatorios issu
ed from the Justices Court, &c.
Mr. Morris— 1 to amend the24tit section of an
act passed 23d of December, 1823, so fur as relates
to the serving of summons of garnishment in cer
tain cases.
Mr. Scarborough—To repeal an aetto restrain,
prevent and innko penal, the pitying away, or
tendering in payment, issuing, &c. ; any bank
bills, notes, ticket, check, draft, receipt, instru
ment under sea), or chose in action, intended, de
signed or fitted for circulation instead or in char
acter of either, or miy *' promise to pay ” in wri
ting, to be used as papor money, &c.
Mr. Miller—To niter aud amend an act con
cerning bills ofexebango, passed on the 19th of
Decnumer, 1823.
Thi* is to allow damages on bills drawn by per
sons in this State upon a citizen of this State but
payable out ofit.
Tim bill nnd resolutions iu relation to the
Western nnd Atiantic Rail Road, which had been
ordered specially for to-dny, wer After some dis
cussion upon die motion, suspended until Tues
day next.
Bills passed.—To add a part of Ware to Wayne
county.
To incorporate the Georgia Silk Manufactu
ring Company.
IX THE HOUSE OP REPRESEXTATIVE*.
Reconsiderations.—On motion of .Mr. Ward so
much of the journal as relate* to tho rejection of
tho bill to niter and amend the 4Slh section of the
lldi division of dio penal code of Uiis State.
Mr. Ward and otfiers gave us some brief but
interesting remarks in.relation to his tsubject.
Several other efforts, for reconsideration were
made, but all linoiccessftilly. It is well after die
considerate action of die llouse upon any men<
sure, tiiat its determination should not be disturb
ed ; hut diis reflection suggests itself with peculiar
force under tho ui'issofmatter now submitted and
to be determined hy the Legislature
Bills introduced.—.V
all perse us who have built, or may
any duut or dams across tho Etowah river, to build
a sufficient slope for the free na«*ago of full.
Mr. IItinier, of Crawford, laid on die table a
preamable aud resolutions in regard to dio sus
pension of specie payments, &c.
Mr, Ingram—To repoulso much of die lawns-
sentod to 22d December, 1829, as relates to pro
hibiting the introduction of slaves, on certain con
dition*.
Bills passed.—The btl! amendatory of tho acts
of incorporation of the city of Milledgeville.
To amend die net establishing a standard of
weight*.
Bill lost and laid on the table.—More effectually
to suppress nearo meetings.
Rrsolution offend.—By Mr. Bryan, of Walton—
Td abolish die office oi Stale Geologist.
to.shtthoaiJd^t»4
■till without river
prospect of a
■t tbf ,.rc. 0 „ t ni.luVLVSSl
iliu'llnhe,^^.
or tho (HI, ln«. 3
utuottlod Ua MfiCJ
ciolo ••iM.iTh';^ k W|
co. l .r,„g,lro|„ rVilj
for tlio I,,; fl„
’twin
WI, wdtCowu^M
ttico'uireijS/jfetiJ
low qunlitic. Tin iS?"*
lowing price, A, gSll
«1. in =t a), loaVVa^'iS
a ifl.oi'aatai .in
100at 31, 7,Vtsli" S ,jHl
a tunoy to;, for tho
itew criiji .n.jbo Siyl
been . ; ilj „i eo a j; > ' l N|
boon MOO hulhch Xiial
«oU within tlio TO ,.*r : '6
.boat 05 runt,
bout 7,300 bu,he!,,\[J r ' r
Hb^fisSSS
renmion. of Floor,
wttath«t,pirit wh y«“a
thotwo provbai
BritiranoH^ hl! ,tH
rt..L -BUUonEnAjjJ
. mint- 'I
£icAanffe.—uiiu oa HadJl
on Kranee we quote 5f.2i Tk,
drawing on v~l
"^“-•—-d the
5 • 6
Gl.a TluilM
urawing on New-York
advanced the rateto3 pm£i B
tuaiul at X a II r ... ■
maud at v .
cent. prem.
prem.
Frcljl
14c. for >
York 50,
for Rice.
the Legislature.
-Mr. Woolley—To compel
i built, or may hereafter build-
Geologist.
There is no important discussion to-dny up to
the hour of 12 o’clock, in eitiier brunch. In Se
nate, some little discussion iu regard to die Su
preme Court, &c., and as to tho day when this
subject should ho specmlly considered, togetiier
with die substitute of Mr. Kelly, of Houston.
Volte for Governor.-^TUo following returns
comploto tlio statement of votes for Governor in
all the towns of tho Stute, viz: Mount Washing
ton, Everett 10, Morton 40; Munroo, Morton 30
majority; Rowe, Morton 3 majority, and Buck-
land, a sinidl majority for Everett. The number
of scattering votes, so fur us our information ex
tends, is small. We are of opinion that they are
not sufficient to neutralize the majority in favor of
Judge Morton .—Boston Daily Ado. if Patriot.
From the N. Y. Courier, Noo. 20.
The non arrival of die British Queen steam
ship, ctiuses a general dullness in business, people
naturally waiting with anxiety the accounts,hourly
expected by her, oftliestuteoftiie markets which
take our cfiiefnrticlos of produce.
There wore considerable remittances made hy
tho packet which sailed to-day *, tho rates paid for
Bills ou London were from 8 a 84 per cent prom.
Tlio latter was given for bills of the first character
—Canada Bunks endorsed hy Primo, Ward &
King.
Domestic Exchanges continue iu demand, nt a
diminished discount. It is not unlikely that four
mails being due from New Orloons and Mobile is
oiiecmiMoofdio scarcity of hills on ( thoso* cities.
Wo quote—*
Oil Philudclphin, 94 a 10; Baltimore, 10 a 104
Richmond, 12A a 13Charleston, 9 a 94 5 Savan
nah,94a 10; Augusta, !On 1041 Florida, no sale
Union, Miss. 20 a 21} Planters, do 24 a 25; Ag
ricitltural, do 21 a 25; Commercial, do 24 a 25 [
Mobile, 9 n 104 i Now«OrlcAn*, 6 a< 04; Louis
ville, no initial; Cincinnati, uomiuul; St. Louis,
nominal.
Bank notes ou tlio above places are soiling at
an increased discount of one percent, except on
Philadelphia and Bultimoro notes, which are sell
ing the snino as Exchange. Rhode Irland are at
0 a 7, New-York Safety Fund ut 34 a 4, Red
Backs 4 a 5. Monoy is becoming more easy, and
the stock of spocio in our Bnnks increasing. '
Commercial- Journal*
savannah exports, nov. *3.
Per brier Jiinltm, for Philadelphia—*460 hales Col-
un, 00 Casas Rice.
Wee*
ght Check* asX«
?*••—To Liverpool Uf.-J
• Cotton,
a75c. PUle
RICHMOND, NOV.li-
•5 to 8. Old from 7 to 10. XA
kcL
Flour.—Oily Mills 1011 (]
•ttOj.tf 31,6j,and6J.
MOBILE, NOV.
ring dio week have been Jtt 14
320 bole*, adding 113 bales to id
mount* to 3,330 bales,
season.
In respect to tnumctiTua&$
but littlo tocoinmuukate. Titem
our ls*t by the Iudcpc&W, tm m
slug u* of a decline of j t» 1<1 fd
ties of American Couon, Lvl iwl
influence on the market, win tit I
tcligcnce por Ore it Western, toil]
check on further negotiation* forth
date* cime to hand on Tuesdij, a
vioua decline, *wl repwtinj % ft
prices t this, howerrr, u not m d
were quoted on the 18th in Lirerr
sole* in this market will t
150 hales, eterfiti-—S** 6 ®
are most anxiou»to»ell,baitheir|i
ed fully ono cent above the vievia
Uio aspde-t of other m»rV«W, ird All
monetary sflliir* both at home tali
not but that price* are defined »js
die stock accumulates. The oho*
have declined; Now-YoA toinekj
dull; Charleston ic., dull; NevOl
Exchange,-Sight Check* on
matid for small aums, but cib* b
tight is aim scarce; 60 day buh s|
ling nominal.
MARRIED,
In Macon, on the eveninidh
dio Rev. Mr. Bragg, &tr. Xn
Alias Sarah E. Macox, nil of tb
CONSIGNEK8 m SSli
Arrived yesterday—lD7w»Pj
to Bostou Randle, R Haberaa
elford, Fay & Co, CMI
rouglts, R M I'hiuizy, Wimbt-fykj
Tuppcr & Sistare, JoitBSi
Huruee, and A Wood & t»-
PASSENti^l
Per steamboat Isis* from Cb
chaol, Mrs Smith, MbThpr J
moil*, Lockwood, Mtchoeh^*
Per steamboat Floml*. &«■“
Afessrs King and servant, W »
ago.
Shipping Id
POUT OP SAVANNAH,..
Sclir Htmi«tt»,.R'.TO^a
ol, Hough Rico to 1
gloop Hcioitoo. Leoi J
Roa/Rle«t*R;H*«^a
Hleamfiont 5fL k m'iI
Stonmboat Florid*. ' I
& W King CLEARED. J
Brig Juitiiu; CroweU.
* CO. nL
Solir Elizabotli,Bo»l»». 1
SchrAIngnot. Koily, Ne< r0,l<
* C0 - departed,
SUmmbontForo»t«.^, 1
CHARLESTON, No'.^fcl
ot Cliooipookc, BgpU’nyiiU
ton, NC. , flBvet, Di
Clil. oltip LI»o r PJ?'>, , Eonpti 1
Crotirtadt,Hatch,North 01 v 'J
cier, Butler, Havam.
Fuller, Amstcrtlq«jj|>nj ; „j a nig
ooltrAiin, Wile/, Boko"
■ NEVV-YOIlK. A° v **p Q ,he 1^1
ball. aOdn fin L"« 1 " i:1 n, n ,vii 1 0i # *
mmi itomod J5tb
anil yiiril, and dM-' 110 ". g pc «, M**
Cld. brigA'^Vud. ,
non, Ltuupbor, 1 "?, i( tciii, ft' ,
Sid. pocket #l "P r ‘tGoRdo". J J
Thcoptlofl i r g_.Ar. ,hl ?i
Steornr, Mobile. 12- 3 “' r 7
