Newspaper Page Text
e&rotiCcle anU smtmel. |
_ AUGUSTA.
TUESDAY MORNING. DECEMjjIER !3.
The Message. { -
A* much of this document is mest)y an ac
count of the Stewartahip of it* authfe, present
ing of couroe llie bright side of the jdeture, we
shall very briefly epitomise its subject! of laud
ation with such remarks en passant %may be
suggested, and confine our observances more
particularly to his Exchequer hobby, ta which
he adheres with all the fidelity of a iruatknight
of the Sangrado order.
The Exordium is replete with exprcOons 0 f ,
gratitude to the Supreme Creator for thAbless
mgs of plenty, health and peace enjoyed Tig the
people. This would be very '
one whose piety was signalised by his kqpwn '
observance of all those rules which the case of i
that Being proclaim; but what weaskw3|bc
thought of the hollowness of such professtiis, i
when it is known, that they emanate from Me, |
whose excessive and disgusting profanity in c< n
mon conversations, would excite a blush o» a
sailor’s cheek 1 We desire not to be irreverei 1,
or to be regarded by the reader uneourteous, h it
this little circumstance is an unerring index o
the character of the President and exposes i
vivid colors his incorrigible and deep bvpocris .
Tnr. English Treats - has afforded bis Exes ■
lency a line held for his verbose, vaiti-gloriot ;
laudations of himself, which arc concluded
professions of regret, that all snbjccU w hich
in future lead to a misunderstanding between
the Governmenls were not embraced in the
treaty.
Oi;r relation-with other foreign Governments i
are represented as either in a very favorable as
pect, or rapidly approaching such a position.
The Florida War is proclaimed virtually end- i
ed, yet it is deemed properlo leave sufficient men
there togarrison the forts.
The Treasury if represented in a rather favor
able condition, at least we are informed that the
deficit on the first of January next will not pro
bably exceed half a million of dollars. But how
or when it was obtained, the President I.as not
deemed a matter ol sufficient importance to com
municate, save the summary annunciation that it
was obtained Irom customs, loans,Treasury notes
and the lands.
Upon the Tariff he is-iiiriecrl very oracular, and ■
it any of out readers can determine the piece* I
point of “a wise discrimination," according to the '
President’s views, they may ascertain the rate of
duties suggested. Indeed, his views on this sub
ject may with equal propriety he approved by both
tatifi and anti-taiilf meu.
The various departments of War, the Navy, and
Post Office, are favorably noticed ; and a la Jack
son, he endorses for the faithful discharge of the
duties of those Departments by their respective
Sei rotaries, with perhaps as thorough a knowledge
of their true situation as the ‘‘old hero" possessed,
when he led the way in this wholesale endot-e
--iiieut. The President, therefore, takes especial
care to laud in this connexion the benefits ol his
administration, and enters into a review of the
derangements of the currency, wliirli he correctly
traces back to the currency tinkering and ex|ieri
ments of former administrations ; and strange to
lelale, he forthwith urges with great zeal another
experiment, in the shape of his favorite quack
nostrum Uic Exchequer.
The Exchequer, therefore, is the leading feature
of llie Me-sage, and no occasion is spared to com
mend it to the favorable consideration of Congfrcss,
as a cure fur ail the evil, to whirl, the ii -*ri. c>
and exchanges of the country have been for years
subjected. This plan, with which the reader is
probably familial, is ihc same as that submitted
•y the Secretary of the Treasury, in a report to
the la-t session of congress, and demand, a more
thorough review thau any other portion of the
message, heeau.-e oi the importance ol the suited.
What, then, is the basis of the plan ; Has it such
a foundation as to give confidence in its stability
an capacity, to answer the ends contemplated ?
Has it a self-controlliug or self-regulating princi
ple, which shall enable it to avoid becoming the
mere instrument of the President and his political
party for the time being ; In short, is it not ano
ther experiment upon the currency of the country,
and does it not possess, in its power to deal i# ex
changes, all the inherent properties for evil,of a
government bank ' These are important questions,
which should be duly weighed in considering this
plan.
The basis is $5,000,000- specie, which of coarse
must be borrow-** for the government has not
the fund- v/p>on this $3,000,000 the b iard of c»n
.re empowered to issue $13,000,000 of Bx
* hequer hills, redeemable in specie, but to uvtid
the depreciation of those bills, the Secretary of tke
Treasury ran issue $3.0u0,0000f government stock,
which we presume may either be sold for the spe
cie, or if the billholders prefer, paid to them for the
bills ; here then is the creation of another governs
ment credit of $3,000,000 in addition to the olhet
credits of $20,000,000. But as this latter Is only
designed to (o la John Howard’s famous plan of re
deeming the large bills of the Central Bank with
-mallet bills of the same bank,) redeem the other
credit already issued, it is not contemplated to in
crease the credits of the government above $20,.
000,000. It is therefore a perfect credit bubble,
every dollar upon which rt is based having been
borrowed, and besides the interest which is paid
upon the capital, the government will be subjected
to the additional expense of paying its Boards el
t'ontroul,Clerks, 4c. tu., art enormous sum as mo
ney to do that, which, in the days of the old I oiled
Stares bank, was done vvithoul io-a .*M without
charge; in addition to all which, that bank furnish
ed the country with the best currency and (with a
single exception for a short period,) the best regu
lated system of exchanges for a period of forty
years, ever known in the history of any natron or
the globe. What then, wc ask is the basis of tin
plan ? Is there any thing teal or stable about it
On the contrary is it not a mere theory of credits
Again, the plan contemplates the issues ofter
titicates upon the deposit of specie, and that tbesi
certificates may form a currency or circulatiug me
dium, offering another opportunity to get Ihesi
mere Government credits into circulation.
Andjhow think you reader, does our practical ft.
nancial President propose to defray the expense
of this vast machine > Why, really it is stranp,
but nevertheless it is true, he proposes to ife
fray the expenses by giving the board of cont.il
the pawer to deal in bills of Exchange, based upn
actual bona fide transactions having not longer Urn
thirty days to run! Certainly, such a suggeston
as this is worthy the roost distinguished fioamcr
of the age, and ought to secure him a proroirmt
position on the Rialto. If the President hasiot
ct learned, that such a power given to this k*u.
vtion would open the door to a system of kitng
Exchanges, to which that of 1836 was as a vole
bill to a mountain, be should summon to hiscun
cils “hit guard ” and learn, if it has a practice man
in it, that snch would be the effect, certain ail in
evitable. To wbat portion of this plan, tber may
the country look as affording' any hope ot securing
stability and confidence in the currency, andregu
**rity iu|tbe Exchanges* based as it will ti* upon
redit, aad dealing in kite bills of Exchange.
Has it any self controling and self reflating
werr None whatever. It will be tin mere
1 creature of the party in power, and subject to do I
• the bidding of the Pre>ideat. We will not enlarge
; upon this point, for the pnopic of this country have
seen how much the j»ower of removal, by the Pre
sident, dau accomplish toward promoting the o!*- I
jects of bis ambition The danger, therefore, from J
this source to the prosperity, liberty and happiness t
of the people cannot be calculated. ! i
Is it not another experiment' This question i
brings fresh and vividly before us the campaign of i
1840, by which the whole Whig party of the coun- j
try was pledged, through their organs, and by none » 1
with greater force or more signal ability than Mr. } *
Webs ter, “to make no mare experiments upon the ! <
currency but to return to that system of things i
under which every branch of business prospered in i
I proportion to the effort and proper direction of the •
energies of the operatives. Need we add a word ■ ]
more on this point, to illustrate the treachery,of the ; j
1 President to those whose con tide nee he has abused. 1
We might add much more in support of our , 1
i views in opposition to this proposed currency tink- j '
! ering,but wc forbear for the present, and invite the j j
j leader’s attention to the annexed comment of the
j Baltimore Patriot. 1
The concluding recommendation ot the message,
1 to refued the fine of SIOOO imposed on Gen. Jack- I
son at New Orleans, is a crowning act of that
crouching sycophancy and low double dealing
which has marked the course of the President
since his induction into office, and if wc mistake
not the character of the man .for whose favorable
consideration he makes the bid, he will duly appre
ciate the base motive that prompted the suggestion
and visit upon the author a contempt as supreme as
ineffable.
Since the foregoing was penned, we have receiv
ed the Baltimore Patiiot, the Washington corres
pondent of which, alluding to this clause of the
message, says;
“The Locofoco leaders laugh at it. Buchanan,
King, Benton, and their friends in the Senate, and j
then supporters in the House, justly think that the i
President must have counted largely ujon thegul
j libility of their party when he imagined they could
be so easily taken in. They talk of this “Jackso
nian paragraph” as the contemptible bid for j
popularity that has ever been made for a long time. ;
To the Exchequer scheme proposed by the pre-
they are determined to give the most decid- I
cdopjionition. This alone is sufficient, they say, to i
cut him off from all their synpatby and support,
i The truth is, the Locofojos are dele rmmed not i
to make or mar with Mr. Tyler. They say be is |
j too weak, and, at the same time, too vain-glorious j
1 for their purposes.
From the Baltimore Patriot.
The Exchequer scheme is urged us it was an
ticipated, with much earnestness and at
lenght. Aside from other objections which may
jbe u r ged against this scheme.there is one which
lis personal to Mr. Tyler himself. The scheme
jis one of vast power and influence. It would
1 give to those who have the management of it a
I control over the pecuniary a flairs ofthe country,
compared to which the Bank ot the United Slates
was nothing. The latter had limits beyond which
it could nut go. The Exchequer may be pushed
to any point of expansion, and involve every in
j tcrest of the country in ihc vortex of its influence.
Mr. Tyler is not the man to be trusted with j
1 such a power as this. The right ofthe appoint- 1
I ment ofthe Commissioners who arc to constitute
j the Board of Control, is in effect, under the prac
] lice of Mr. Tyler,— as wc have seen in the re
! cent instance of the removal ol Mr. Roberts at
I Philadelphia—a right to appoint all the subordin
; ate officers that the scheme may require.—The 1
1 proposition to appoint the Commissioners for the
terms of two, four and six years, and to require i
the President to make an exposition of reasons
for removing one or all of them, secures no safe- j
tv against the abuse of the appointing power oI ,
, llie President in the Hrst instance, and gives no ;
1 assurance that his |»owcr ot removal would be 1
: wisely used. At the first start ol the scheme .
• and during all time he muy remain in office, Mr. j
Tyler would have entire control over it. That
\ he would use that control fui political purposes
Ino man can doul t. That he would appoint lo
’ ! the offices ol Commissioners, men ol integrity i
, and who possess public conit Jence, no man cai j
, *ay. That hr would it*ke nJvwiUgc of bit p*wi- •
. (ion to till the subordinate places with dependants
of his own family, or the miserable flatterers who
’ throng around the \V Kite House, is even less
I doubtful. And that he would, through the in
, | struinents he would thus be euabh d to pul in pus- j
. ! session of the vast and extraordinary powers «fl
this scheme, reward favorites and subordinates
■ by loans, in tire shape of worthless bills of ex
• i change discounted, is almost certain —for have
i | not the powers of his Presidential office been re- ,
peatcdly used and prostituted for such purposes? •
. Give Mr. Tyler the jiower which would enable
1 him to lend the money in the United Stales
■ Treasury—lor such is the Exchequer to he—ami
; let one of his political partisans—some crouching
j sycophant—present bis fabricated billofexchange
tor sale to the agent ol the Exchequer—in our
city, if you please—and let another, who is not j
> an Executive tool and •subservient, present his |
- hill of undoubted credit—and then let any man
l ask himself whose bill will first be taken? And
let this circumstance occur on the eve or in the
» midst ofa warmly contested election, and the 1
s purchase ofthe bill of the Exceed uc favorite will
be certain. And if tho agent of the Exchequer
c hSve doubts, measures will be taken to have his i
doubts resolved by r.rders from Washington.
Our Exchange Table.
The impression is very general, we learn, that .
i our Exchange Table, and all our reports upon
b the value of exchanges and money are made by
t John G. Winter.. To relieve that gentleman |
_ therefore from the odium which the ignorant at- ;
I tach to such reports, we deem it an act of justice
* to state that he has nothing to do with them, ili- |
t rectlyor indirectly, and has not,since the -d De
yr comber, 1811, when his name was withdrawn
from the head of the Exchange (able. These ro
ll ports arc made up by ourselves, aided by a gen- j
i (lonian unconnected with the brokerage business ,
< in any of its departments, and are based upon j
>- actual operations which are made with the Banks,
V Brokers and others. Those papers which copy i
Q our exchange table will oblige us by copying ;
d this ptragraph.
d
The N. O. Tropic ofthe fith hist, says:—An
__ English yacht, mounting .-even Pain ban guns,
d [ name not known, came up the river under sail
it! !«nt night, and auction d off Slaughter Horn-*
’• Point. It is rumored that she will join the Tex- !
a ian Navy.
y Passed Midshipman John Smith Patterson, of
, r the U. S. Navy, acting Master of the frigate
I, Congress, was assassinated in the streets of Ma- i
lion on the ’JSili October. The assassin had not
been discovered at the latest dates
Our Consul at Havana.
The Havana correspondent of the N. Orleans
Tropic writing under dale the 3rd inst says:—
Mr. Campbell, our new Consul has taken pos
. : session. He is a hard featured, haid fisted louk
v ing man. and seems lo know as much of his du
* ' ties as Consul as a mum.Ty "000 years old might '
i, be expected lo know of the polite usages of mo
. | dern society. He is now learning the ropes.
I : Mr. Calhoun, the Ex-Consul, goes over in the
Alabama. A letter was banded him from the
: Americans in port, es which I send you a ropy.
1 I He will be regretted by every one.
1 Yours truly.
f
I A Hist to Mb. Vin Bubexl—Tke Lynch
t burg Virginian says:—The Locos of Prince Ed- |
ward county recently held a meeting and adopted
a series ol resolutions—in one ul wlnch it is satO:
' ‘‘We trust there will never be an instance of a
> Republican (meaning a Loco) who has filled the
. Presidential chair, re-appearing be fore the people
t as a candidate for office; having filled the mea
sure of Republican ambition, he should be satis
fied." Wo were not astonished at this hint
' when we saw the names of the leading members
; of the committee by whom the resolutions were
. reported, Calhoun Whigs of 1633, who left us,
as their leader did, when they found that a Whig
victory would not enure to Mr. Calhoun’s bene
fit; and who will leave the Locos, in all likeli
f hood, if the Nullifier should be thrown overj
i board.
-w .
WEDNESDAY MORNING, DECEMBER 14. •
Central Hank Keporl.
In our paper of to-day will be fouud the re
port of the Special Committee of the House of 1
Representatives on the state ofthe Central Bank,
lo which the reader is referred. Comment is
unnecessary, the Bank is in a hopeless state,
and a further depreciation of its bills inevitable.
U. S. Sknator tor Missouri.—The Hon.
L. F. Linn was re-elected for six years from the
4lh ofMarch next. He received 119 votes out
of 10
FROM OUR CORRESPONDENT.
Milledgeville, December 10, 1842.
Mr. Lamar moved a reconsideration of his
bill. Mr. Crawford spoke against the motion,
and briefly but impressively recounted his argu
monts of yesterday. Mr. Lamar made a few
remarks, some of which related to certain “largo
and respectable meetings,” the subdance of
which I could not hear, owing to the undertone
in which he uttered them. The reconsideration
was agreed to —yeas 87, nays 74. I shall re
serve my fire until the action upon this spawn
of corruption shall have been consummated
On motion of Mr. Gray, the House suspended
the rules, to take up tho Report of the Commit
tee on Finance.
In reference to the Georgia Rail Road Bank,
the report accepts of the propositions made by
that institution, respecting its taxes.
The corresjiondencc between his Excellency
and Thomas Haynes, on the one part; and the
Presidents of Banks, on the other ; was read by
the clerk, among which were letters from Treas
urer Haynes, acknowledging the receipt of those
taxes, from the repa wuent of which the banks
seek to be relieved.
Air. Tliouiak spoke against the odtour injus
tice ofthe report.
Mr. Crawford addressed the House at length
on the subject, and it would be supererogant to
say that his speech realized all that those who
, know him might have expected
Mr Cohen read the different acts relating to
■ banks, and entered upon a detailed argument
: against the adoption ofthe report. He pronoun
ced it monstrous, and fraught with iniquity. 1
think his speech formed a train of the clearest,
! well digested, and most forcible arguments I
ever heard on any subject,
i Messrs. Ilibberts ami Barclay occupied on
; this question what may be deemed their neutral
i position. Mr. H. spoke of those bunks as
I swindling institutions, which is exceedingly mo
• derate language for him. His speech was as
| lack lustre and mawkish as ever. Mr. Barclay
! was more lugubrious and lachryinosclhan usual.
Mr. Toombs gave them a moderate castiga
tion. He placed the matter in “a nut-shell,”
and asserted, truly, that as no jury of twelve
honest men, with the evidence w hich this House
had before them, would give a verdict against
the banks.
Mr. Lo*! being called lo the chair, Mr. Wof
ford (who is one of the securities of Mr. Treas
urer Haynes) went “as fare" as be could to dis
suade the democracy Irom being deluded and
carried away by the imaginary argu/titti/s of
learned gcnlirorc/t, ami to sustain the report ol
the Committee on Finance tic said the direc
tors of banks, if they wanted relief, must “go to
i Mr. Haynes." God bless me! what a request
i to make ot flesh and blood!
There are abundant reasons lor believing that
Ihc secret spring by which the wires are being
pulled, is operating through a desire to save the
saturates of llie defaulting Treasurer.
Mr. Guerry rose lo disclaim on the part of his
‘ constituency and himsell, any desire to commit
so flagrant an act of injustice lo the banks, as to
! compel them to pay their taxes twice. It was
enough for him, and it ought to be enough tor
i this House lo know, that these taxes had been
once paid He was opposed lo the banks, but he
; was not lor robbing them. •
Mr. Crawford plied the House with some ad
i dilional arguments. He pul lo Mr. Gray, chair
-1 man of the'committee, a pointed and pertinent
question, to wit: “ If there was no delinquency
in the account of Mr. Haynes, would or would
you not demand this repayment of the banks 1"
; Mr. Gray answered, “ be would not; ’ and Mr.
! C proceeded accordingly.
Tt>. icolu’ion ot il»s Committee, as expressed
in their Report, directs proceedings lo lie com
| ntenced against the banks forthwith.
Mr. Cohou offered a substitute lor that reso
lution, which is in substance as follows; That
■ all proceedings against the banks be arrested
until Mr. llavnes’ affairs shall have been set
{ tied, and his deficiency fully ascertained; and
also requires a written pledge of promise from
the directors of the banks, that they will lake no
legal advantage of the [>oslpoiicmciit.
I This substitute was adopted. The Report
was then agreed lo —yeas 86, nays 83.
In the Senate, Mr. Lawson introduced a set
ol resolutions (Black's 1 sutqiose) recommending
the nomination of J. C. Calhoun lor the Presi
dency. He prefaced the introduction of the
resolutions with a few remarks, such as that “he
had been educated in the sentiments therein
■ contained, and that he had never changed,” &c.
rite resolutions give a high coloring lo Mr.
Calhoun’s integrity, private and public virtues;
and more than all these, his muchlo be admired
| consistency.' One hundred copies were ordered
to he printed.
The Senate has been occupied nearly all day
I in committee ol the whole, upon Mr. Kelly’s
: hill to separate the Treasury from the Central
I Bank. They did not accomplish their action
1 upon it, however. 1 send you a cepy ol the bill,
| the 3d and Ith sections of which have been
stricken out.
M r. M’Dougald moved a reconsideration of the
district bill, which motion was lost —3‘J to 38.
Some very amusing skirmishing took place to
: day, between the Hon. President and Air. Cone
jol Bulloch. The sparring arose upon a point
of order. -Mr. Echols made a decision from
which Mr. Cone appealed. The Senate sus
tained the President. Judge Tankersly was
called to the chair, and Mr. Echols alluded to
! Mr. ('one’s remarks, by saying that he should
{ not notice the insinuations which had been
i thrown out, as he viewed their source with
■ scorn and contempt. He repeated this language
; two or three timrs.
i _ Mr. Cone arose mid said, as to “ scorn and
; contempt,” and all that s6rt of thing, the gemle
i man had not, nor could he get the least advan
tage of him.
Mr. Means of Paulding, made some observa
j lions having reference to the district bill, about
semi-itanocroAs, to which Mr. Spalding of Mc-
Intosh, took exceptions. The remarks ot Mr.
S. in replication were scorcbingly severe, and
made in tones es lolly and withering indignation.
I He said that empty barrels always made the
I most noise; that men with addled brains pre
sumed to instruct those who had studied affairs
of state and the theory of government; and
turning round to Mr. M. with a significant
\ pointing ofthe linger, he asked who appointed
him judge and dictator of the democratic party 1
i “By heavens!” he exclaimed, “if he were the
leader, 1 should be no longer a democrat!”
j This alternoon’s session was occupied in de
bate upon the bill to define brokerage, which
you will remember was referred to a select com
; initlec. The bill was lost by only one vole.
Messrs. Toombs and Cohen fought manfully,
and the victory achieved was hardly won. They
had lo battle with a whole swarm ot levellers
and agrarians—but it was a contest between
; giants and pigmies —a victory of knowledge over
| ignorance—wisdom over foolishness—principle
' over prejudice. S’. H.
Goon—Dr. Sam’l C. Oliver, the faithful Whig
Senator front Montgomery being unable lo attend
the Whig festival at Selma, to which he was in
s vlted, wrote an admirable letter, concluding with
| the following sentiment:
‘flow Mist Cut Mix itr thkex!”—ln
the great contest of 1844, when the question is
asked* “How many Clay men are there!” may the
i answer be in tbe memorable letters oftbe Harri
■ son v pci ode-. (U K) —Am. Cut.
i ■ -
Smuggling.—A gentleman recently arrived
from W< stern New York, states that nearly all
the coarse and fine woollen worn in the towns of
Vermont and N, York, near the frontier, instead
of being made from tbe wool of their own sheep,
are clandestinely brought in from Canada.
The Boston Steamers.—Messrs. Hamden 4
Co., have received a letter from Liverpool, which
states, upon the authority of Messrs. D. 4 C. Mc-
Iver, tbe Liverpool agents and large stockholders
in the Royal Mail Steamships, that tbe rumor
which originated with the New York Herald, of
the transfer of the steamships from Boston to New
York, is without foundation.—Boston Mail.
1 repoki a
Os the Select Committee t lie Hume of Rep
reaentufivet appointed ti amine into the of-
i fairs of the Cental Ban ni
i'be Select Commute ap tied under a rasa* b;
lotion Os the House of R Santa tires doting la
the present eeteion, to exai t into the afiaire of s *
the Central Bank, beg leas toiler the fallowing Jj 1
report: “J
Your Committee, imprekfi with the import
ance of the delicate anu r gtnaible trust with j|
which they were charged, tried immediately tl
on the duties assigned them and base spared b
neither pains noi labor to arwi at correct results, tl
and to furnish to the Legi jure, and through *
them to the people, as correqt >nd detailed an sc- *
count of the affairs and coition of the Bank, ■
as the limited lime allowed atlm would permit. r
As it was a n.alter of prirngr importance to as- t
certain the true condition p the Bank and its f
capability, (unaided by other naans) to meet its t
liabilities, and ledeem its cindaiion, the atten
tion of the Committee was i rs t directed to an
examination of the value of hi assets, and the ex- ,
tent of its liabilities as set foru in the recent re- j
port of the Bank, and beg lavs to tefer to the
following table, as the result eltheir investigation ]
of this b- anch of the subject. I
ASSETS OF THE CUTUI BASE.
Value at muted. Value real.
Bank Stock 587 300
Bank of Darien Black, 3.220 shares.
“of Angus a Stock, 890 do 62,300
“ Stale Geo. Stock, 1,733 do 121,310
Bonds, notes, dec. rec’d
from the State,*... 1 $0,258 52
Brunswick R. R dc Ca
nal Stock 50,000
Notes discounted. ..1,620,328 68 1.060,000
Bills discounted 283.251 67 141,626
Western A A. R. R. 412.040 18
State Bonds. .tet.wsjSl
Sinking Fond,} 74.606 06
Salaries 7.332 50
Premium paid 11,949 01
Incidental Expenses.. 5.802 44
Commission account. 4 508 35
Protest account 201 201
Profit and 1055....... 449 49
Interest paid 4.016 47
In bands of Agents.. 16,033 61 16.033 51
Due by Banks 25,792 90
This amount is due as follow,;
By B’k State So. Ca . 24 96 .
By B’k State of Geo.. 11l 27
By B’k of Columbus. 1,314
By Bank of Haw
kinsville 165 75
By B’k of Darien.... 14,917 50
By Branch at Macon. 4 917 67
By do atMilledge
ville 4,351 76
Darien B’k notes 47,672
Monroe R. R 24,224
Other B’k notes, checks,
protested drafts, dte.. 104,813 G 9
This amount consists of the following item,:
Draft, A. B, Davis,
Cashier, on Mer
chants’ Bank, N. Y.
dated lotbMay,’42,
and payable on 20th
Oct., 1842, endorsed
O. McDougald, Pre
sident, and J. C.
Watson, Prcs’t,.., 25,000
Draft, D. McDougald,
President, 20lh Oct.,
1842, endorsed D.
McDougald, J. C.
Watson, Pres’t, A.
B. Davis, Cashier.. 26,000
Draft, 8. Gray, agent,
on Fulton Bank. N.
Y.,dated 10th Jan,
1842, at 3 mos., en
dorsed J. Co Ales... 18,000
Draft, J. Cowles, on
Fulton Bank, N. V.
dated Jan. 10, 1842,
at 3 mos., endorsed
8. Cray, agent 5,000
• Central R. R. Bonds . , 3,600
Draft, Ocmulgee Bit, .
1 on Anwtcan E<- *
change Bank, N. Y.
dated May 27,1842,
at 3 mos 2,000
I T Fort, Pres’t check
in favor of W B John
| ston, Pres, pro, tem.,
, (paid) 5,027 88
i Certificate of depoaite,
A Fleming, teller, in
1 favor Central B’k, 260 28
Executive, warrant on
1 Treasurer ~...450
! N’te made by P Thwe
a‘t, J H Steele, A .1
' H R Washington,
(since settled) 2,000 2,000
“ Ch’ks of princ’al keep
er of penitentiary 6,891 78
Notes Western B’k at
j Rome ...4,500
I Notes Ocmulgee 8k.,. .5,165
Notes Central Bank in
r Teller’s bands 4,500
i Notes Planters A Me-
I cbanics Bk of Colum
i bus, 280
■ Notes Chattahoochee
1 KR4 Banking Co 95
Notes old Bank of Ma
! con, sealed up, 294
Notes Mechanics’ Bk
" of Augusta. 600 600
' Notes 8 Western R R
Bk, Charleston 270 270
Notes Savannah 8k5,... .200200
; Specie Change 273 8b 273 86
I {104,81369
i Specie certif Bk Darien^.. $6,000
i ■ " 1 ■■■ - "
; $3,361,351 23 $1,408 449 60
LIAHLITIEt OF THE CHIfTEAL BAHK.
State 8 per ct bonds 162,000
Credit of individuals 39 643 SO
N Yoik4k6 mos. 10an... .20,500
- Certificates of deposite is
-1 sued 2,500
■ Due to Banks, 2.728 30
Notes in|circulalian,4s3,Bs3
I •
$1,681,425 30
Am’t real value assets,. .i,406,A*C60
s Tot. ain't deficit of do. $272,775 70
By this tabular statement, it will be perceived,
; that there is a deficit of assets, amounting to two
| hundred and seventy-two thousand seven hundred
and seventy-five dollars and seventy cents, and if
to this sum be added the sum of one million fifty
one thousand four hundred and twenty-two dollars
and nine cents, received from the United States as
i
*T;ii- item ,is composed of very old bonds and
notes, and may be regarded as valueless, though it
, is probable about Twenty Thousand Dollars may
be realized therefrom.
, tTbis item consists of the whole amount o? in
! teresl paid by the Bank, on the Bonds of the State,
bearing this rate of interest
(This is ;n fact no fund whatever ; but i« the
' amount paid by the Bank on tbe public debt.
$5104,813 69. Os this sum, consisting of the
following items :
I Draft, of A 6 Davis, Cashier, on Merchants
Bank, N York, dated 10th May, 1842, A
payable on 20th October, 1842, endorsed
fa McDougald, President, It J C Watson,
President - $25,000
Draft, D McDougald, President 20th Oct,
1842, ecdorted by D McDougald, J C
Watson, President, A B Davis, Cashier 26,000
Draft. Scoit Cray, Agent, on Fulton Bank,
N York, dried 10th Jan., 1842, at 3 mos.
endorsed J Cowles,.. • • • 10,000
Draft, J Cowles, on Fulton Bank, N York,
dated Jan. lOtb, 1842, at 3 months, en
dorsed Scott Cray, Agent,. 3,000
Draft, Ocmulgee Bank, on Amstican Ex
change Bank, New York, dated May 27,
1842, at 3 months,. 2,000
$67,000
me included ih tbe schedule of bills, and must there
fore be deducted from that amount
sThis is valueless, as it is only the evidence of
indebtedness to that amount, by the Bank of Da
rien, for so much specie furnished that Bank some
years since. ,
Jeorgia’s proportion of the surplus revenue, the 5
left it is increased to the enormous amount of one 5
milieu three bundled ai.d twenty-four thousand \
me hundred and ninety-seven dollars and seventy- ]y
sine cents. The committee have been ac.uated
ay no other motives than a desire to ascertain j
tacts; they have been influenced by no party con
indentions, but with great unanimity of feeling,
have pressed onward in the performance of their .
duties. Truth was their object, and by its sacred
light have they been guided. -
The valuation which they fixed upon the various
items, composing the assets of the Bank, has been *
the result of the best investigation which they *
have been enabled to give the subject; not do t
they believe that any investigation would produce i
a materially different result. In connection with I
this brench of the subject, your committee deem it I
proper to exhibit a statement of tbe notes and bills I
of the Bank, distinguishing those running to matu- £
nly, those due and in Bank, and the amount in the j
hands of attorneys. g
Notes in bank running to maturity,™.. $469,435 55 .
Bills payable at Savannah 34,619 52 r
Do do “ Central Bank, 15,574
Tot ain't runn. to mat $515,629 11 ,
Notes in Bk overdue,... .363,218 28
Bills payable at Savan
nah over due, .53,587 02
Bills under protest. ■. ,1i6,76S 86
Note; due anu designat
ed by Bk at doubtful... .10,357
Notes du“ and designat
ed by Bk as insolv’t 747-35
Executions returned no
property, 4,891 S 3
Notes and bills in attor
ney’s bands 723,132 46 1,277,702 80
$1,793,331 91
This table may be slightly changed since the
report of the Bank, by the renewal and payment
of some of the notes and bills, but in the main, will
be found accurate.
The Notes running to maturity, ibis believed,
are generally good, at lexet, so far os the Com
mittee have been enabled to ascertain from the
beet sources of information at command. Yet
they cannot but believe that many losses even
under tbe most carefnl management must ensue,
when they reflect upon the large number of debt
ors scattered over a great extent of territory, liable
to all the changes to which tbe affairs of men are
incident, and (be utter impossibility of tbe mana
gers of tbe Bank, (removed as they are from the
debtor,) to observe these changes.
The Committee also, believe, that the Bank
will be exposed to more or lass loss from forgei
ies. for it would be worse than idle to suppose,
that tbe directors can be acquainted with tbe hand
writing of the various makers and endorsers of
the Notes presented for their action.
An entire list of the debtors to the Bank, whose
notea are not in the hands of attorneys, arranged
according to counties, has been pre|>ared by tbe
Bank, and of course, is at the disposal of the
House. This document being too voluminous
to be incorporated in this report, the Committee
have prepared an abstract of the same, which is
found in the hereunto annexed, ai.d
marked (A.)
Tbe Committee deemed it desirable, to have
given the en ire amount due by each county; but
were unable to do so front tbe fact, that they bad
no means of ascertaining to what counties the
tespeclive amounts in the bands of the several
attorneys belonged. The Committee, however,
have caused a schedule to be prepared, setting
forth the amount in tbe bands of each attorney,
which it hereunto annexed, marked (B.)
The Committee have thus collated all tbe facts
within their reach, but would feel they bad only
half perfoimed their duty, did they not give the
result of their judgement and opinions formed
from tbe investigation of the affairs of the Bank.
It is unnecessary to look back upon the past,
or to discus? tbP propriety or impropriety of any
Slate establishing such an institution as tbe
Central Bank. Nor is it at all material to en
quire whether its affairs have been well or ill
managed; the defects in the management of such
an institution a>e incidental to its very nature,
and it is only necessary to look at results to test
the truth of this opinion. The Bank if now left
to its own resources, would be utterly insolvent
—it cannot pay its liabilities out of its assets.
And yet, your Committee would caution the Bill
holders no fto sacrifice the Bills of the Bank, be
cause they are m truth, the liabilities of the
Stale of Georgia, and she must, and will pro
vide fur the payment of every dollar.
The situation of the lank, however, absolute,
ly requires, that its exp naaa should be reduced ;
its assets collected will roaunable promptitude;
t: at no further drain ska iid be made Irom its
vaults tor any pu pesos whatsoever; and thus
confined in its op* atio.u to the single object of
withdrawing its 1 ills irom circulation, and there
by appreciating iLoir value.
To effect ibis utsirable object, it is necessary
that the Btate should be supported by such taxa
tion aa may be necessary to meet its exigencies
and liabilities—and tbe holders of the Bills of the
Bank be invited to exchange them for bonds oi
the Btate, payable at a specified time, ai.d bear
ing a proper rate of interest. It will be perceived,
that whilst the Committee would separate the
Bank and tbe Btate in the performance of their
respective functions, and would force the former
tecollect its assets and redeem its liabilities —yet
I they cannot for a single moment, entertain the
; odious idea as repudiation. Georgia is responsi-
I ble for eveiy liability of the Central Bank, and
! when tbe Committee proclaim to tbe world, that
I abe will cheerfully redeem these liabilities, they
1 feel that they but echo tbe opinion of every Geor
gian of every parly. All of which, together,
with the accompanying Bill, tbe passing of which
is strongly recommended by tbe Commute, is re
spectfully submitted.
JAB. THOMAS, Chairman.
•This amount should be increased by the sum ol
$30,000, though not actually in circulation yet it
is pledged as collateral security fur tbe pat meet ol
g a loan in New York of $20,500, ard should be de
ducted from $100,320, reported in the vault of the
Bank.
(I)
j Rer.apilulatioa of Notes running to Maturity
payable at the Central Ban!', and Notes past
due.
Counties. No. of Notes. Amount.
i Appling, 4 1,530
] Baldwin 131 46 549 97
Baker 11 2,856
Bibb 48 35,574 38
Bryan 1 300
Bulloch 5 3,800
Burke 18 14,051
Butts 28 4,650 50
Camden 3 2,251
Campbell 39 6,287
Carroll 19......... 3,385
Caas 34 7,565
, Chatham 12 8,491 37
> Chattooga 17 2,960
1 Cobb 70 3,808 25
f Cherokee 38 5,205
‘ Clark 12 6,635
8 Columbia 13 5,981
5 Coweta 75 12,088 56
, Crawford 86 10,294 90
Dade 1 100
, Decatur 21 5 226
DeKalb 71 11,574
D001y... 36 4,052
, Effingham 3 2,150
Elbert 21 8 701
; Emanuel II 2,250
Early 11 11,231
■ Fayette 56 9,855
Floyd 35 15,205
Franklin 66 12,461
Forsyth. 16 7,852
Gilmer 3 1,000
t Glynn 1 640
Greene 35 8,920
Gwinnett 49 12.485
Habersham 49 9,731
Hail 53 10,610
Hancock 49 8,071
Harris ; 87 12,180
Heard 20 2,845
Henry. 99 13.654
Houston." 98 19,828 20
Irwin 14 1,906
Jackson 58 14,873 50
Jasper 76 12,964
Jones 63 11,089
Jefferson 16 4,795
Laurens 27 8,437
Lee 13 3,926 50
Liberty 20 10,344
Lincoln 9 2,820
Lowndes 11 4,410
Lumpkin 26 5,269
Macon 20 3,120
vm i «■■■■■«■ r i l
Mclntosh 10 9.180 ('I
Madison ........ 15 0,440 n
Marion oS 1 937 b
Meriwether 92 ...16,958 «
Montgomery 11. 2,640
Morgan 71 11,502 p
Monroe 132 19,534
Murray 22 5.982
Muscogee 38 19,944 33 .
Newton.... .....11l 16824 50 .
Oglethorpe 19 6,858
Paulding 7 920
Putnam 83 15 714 68
Pike SO 9,044 8
Pulaski. 29 10.137
Rabun ... 11 1,020 1
Randolph 41 7,246 t
Richmond 13 7,370 t
Sumter 36 7,435 i
Stewart... 65 : 11,649 43 t
Scriven 9 5,685 ]
Taliaferro 28 6,6110 ,
Talbot 136 14,376 |
Tattnall 5 1,721 <
Teltair 21 4,591
Twigffs .132 23,442 80
Thomas 16 6,295
Troup 104 17,477
Upson 57........ 13,468
Union 16 2 174 !
Wayne 2 1,360
Ware 1 80
Walton 102 13,780 i
Walker 25 2,927
Warren 68 15,151
Washington 140 24,791'
Wilkinson 108 10,856
Wilkes 42 13,150
Total 3,844 *828,653 87
Total amount of Notes on hand in
the Bank, *828,653 87
Os which there is past due and not
- renewed ...363,218
Leaving the balance now running
to maturity *465,435 59
(B.)
Recapitulation of Notes in the hands of Attomies.
Names of Attorneys. Amount.
Kelly & Rice ...15,882
F H Sanford 18.912 55
F V DeLauney 21,677 17
I B F McDonald 13,100
Mansell & Braollv 13,895
F A Nisbet 48 589 99
Burney & Dyer - 19 867 13
.lames Smith 13,728 85
Charlton It Ward 39,742 S7
lohu Schley 7,295
A .1 & T W Miller 2,641 28
N C Sayre '6O
HmceSc Harris 2,810
K Starnes 3,970
Charles Murphy.. 8 997 50
Ni bet, Hines ot Blake 3,516
Aiken & Wright 7,720
E 8 Barclay 2,345
Poe & Nisbet 27,987 44
1 L Harris 25,572
■ios II Lumpkin 46,728
W S Rockwell 17.800
; Tracy & Gresham 12,745
1 ED Tracy 970
1 Tracy & Butler 2.934
1 WL Mitchell 26,614
, R V Hardeman 2,582 80
r DeLauney &. Gaulding 4,120
Samuel Gainer. 8,880
’ JG Shorter vt 505
A Mitchell 683
* .1 H Stark 6,478
1 J A Meriwether 1.818 94
3 Mi'chel & Hillyer 24.242 44
1 William Wiggins 14 9(8 12
. H A Harralson 14,491 34
Foster & Howard 1,200
Lott Warren 200
' S A Wales L9.V7
? Sullivan, Patterson & Frazier. 480
JT Left wick SO
I Fambro It Spear 625
I WnsY Mansell 3,500
i, J G McHenry 2,065
t J L Seward 1,520
, Huey & Heflin 500
T A Latham 3,510
Worrel & Harrison 5,079 17
'j A P Powers 15,297 15
II N M Burch 3,127
Cuthbcrt t Polhill 40(1
e. j Win Dougherty 1.040
i. ! Hargrove & Morgan 57 25
O H Kenan 117
. L F Miller 530
A A Morgan 345
E A Nisbet 525
< J S Patterson 713
s T H Trippe 650
a N L Hutchins 1,116 51
if H V Johnson 20,837
.. W A Fort 18,135
Whitehead & Land 16,618
G DAnderson 14 037
Calhoun & Anderson 637 50
L Freeman 660
8 John H Lumpkin 5 499 90
e H 4r V Warner 15,380 94
if Foster & Fannin 1,105
r. NG [Foster 655
| Gibson Clark 16,105
A J Hansel) 33 265
. G Schley 13,905
r E H Baxter ....13,187 62
,r Field & Saflbld 27,930
it
e $728,132 46
j Supplemental Report.
It Mr. Crawford, one of the Select Committet
y appointed to investigate the condition and affairi
.. of the Central Bank, asks permission to submil
r the following Supplementary Report, to the out
I) already made by the majority ot that Committee
The undersigned fully concurs with the repori
of the committee relative to the liabilities and as
sets, and the value thereof, of the Bank—the im
perfections and enors in the last annual repori
if made by the Directors of the Bank—the unequal
it and inequitable discrimination that has been
•f made by the Directors of the Bank between the
several counties of the State, and in the expres
-6 sion of the opinion that a resumption of specie
pay ments by the Bank is hopeless. In addition
to these, the undersigned begs leave to submil
the following facts connected with its administra-
V tion.
That on examination of the notes running tc
maturity, there were found many that were in
formal—some without dates, and others without
- the names of the payees; both being in blank.
As these papers should have been examined by
g the Directors, as to the solvency of the makers
and indorsers, as well as the genuineness el their
signatures, before discount, it would seem that,
at least, the imperfection of the notes in these rc
-0 sjects, in so many instances, could not have been
overlooked, had there been a faithful discharge ot
duty. In the opinion of the undersigned, the
primary duty devolved on the Directors, acting
. under heavy responsibility and liberal compenaa
• tion, was a strict and severe scrutiny into the dis
. counts in every form and shape.—lt is true there
’ was some disagreement in the Committee as to
the legal right of making complete and perfect,
at any time, such detective notes, (the discussion
i; of which, for the sake of the public interest, is
I) now waived,) still, as a question involving what
was legally required of the Directors, it does nut
make their negligence less palpable.
The mode in which the Bank keeps its notes,
is to place them in separate files, and mark on
their tacks and labels the time when they fall
due. They are placed in bundles, so as to in
elude those payable in each week. On exami
nation of the notes which were payable in 'wo
inontbe, (the Committee having no time to make
a further examination,) it appeared that there
were many notes which were marked as matur
ing on a certain day. when in fact they had ma
tured some days or months before. This inter,
val of time varied from a tew days to three
months. The wants of the Bank did not justify
those oversights. On the contrary, these very
wai t , should have induced the Directors to re
l quite as a matter of paramount importance, the
strict!st punctuality in the debtors to the Bank.
As connected with the administration of the
Bank, the undersigned deems it bis duty to state,
1 that of the sum of five tbouaand one hundred
and sixty-five dollars of the bills of the Ocmul
-1 gee Bank, repotted by the Directors in their an
nual report, three tbouaand one hundred and six
ty five dollars of it were deposited during the
past summer, by His Excellency the Governor,
, who then drew from the Central Bank its bills of
like amount; that it was stated by the Cashier
that this amount of the Ocmulgee Bank bills
ceuld not be need for the purchase of exchange,
or in payment of the interest on the public debt,
it being on special depoaite. It further appears,
'bat since this depoaite, the Central Bank, though
regarding these bills as equivalent to specie, has
been a purchaser in the market ol suitable funds
wherewith to discharge the liabilities of the
.stale. This sum is now an asset ol the Bank,
its character having been changed from a special
into a general depo-ile.
The debt of two thousand dollars included in
the Annual Report under the item of “other
bank notes, checks, protested drafts, ice." #104,-
813 69, and since reported as “settled,” has been
changed from a promissory nots, into a promis
sory note payable six months after dale.
The undersigned would father submit, as a
fact elicited by the examination of the Commit
tee, u.at the Bank has collected the last dividends
declared by the Banks of the Sute of Georgia
and of Augusta, and in collecting
to receive in payment therefor its own bills, iho
Directors stated that the Bank was entitled to be
paid in such money as was paid to other Stock
holders ; and moreover, that the necessities of the
State required that such payments should be
made io sjh cie or its equivalent. The undersign
ed would remark, as those Banks that declared
the dividend, were the holders of the bills of the
Cai tral Bank, equal in amount to the dividends
respectively declared by them, they could have
demanded specie or its equivalent from the Cen
tral Bank ; and if paid, the transaction would
have been fair and legal, because there would
have been perfect equality ; and to any other
Stockholder who wa- indebted te either of these
Banks, it might have legally refused payment,
aiid insisted that his dividend should be first ap
plied to the extinguishment of bis debt.
Reviewing then all of these grounds, and clear
iu the conviction that the Bank is wholly and ut
terly incapable of accomplishing any of the pur
poses of its creation, and hopelessly deprived of
the means by which its circulation can be sus
tained. unless by taxation, the undersigned dwnns
it right and proper, as in other cases of inextri
cable embarrassment, that its affairs should be
put into immediate liquidation. It is due to ev
ery interest in the fetate, that this policy should
be distinctly announced, so as to leave no doubt
on the public mind that this source of ganerml
! evil will be soon and effectually dried up. With
this view, the undersigned will, when the occa
sion arrives, propose I) repeal the charter of the
Central Bank, and all acts amendatory thereof,
which shall be inconsistent with the provisions of
the bill repotted by the majority of tbe committee,
so Liras such bill contemplates repeal.
GEO. W. CRAWFORD.
A BILL
To he entitled an Act to arrange and settle the
atfsiis of the Central Bank.
Sec. 1. Be it enact'd by the Bennie and House
I of Representatives of the Stale of Georgia in
General Assembly met, and it is hereby enacted
j by the authority of the same, That trom and
after tbe passage of this act, the seventh section
' of an act entitled an act, to establish a Bank at
1 Milledgeville to be called and known by tbe name
- and style of tbe “Central Bank of Georgia,” to
appropriate moneys, Bank stewk and other ac
! entities, to form the capital stock of said Bank,
1 and to incorporate the same be, and the sa ue is
i hereby repealed.
Sec 2. And be it further enacted by the au
thority aforesaid, That on the first; Monday in
January next, his Excellency tbe Governor shall
appoint some fit and proper person, 'o be called
Ibe Agent of the Central Bank of Georgia, who
\ shall take charge of the assets of said Bank, so
soon as he shall give tbe security hereafter men
tioned; that the said agent shall give bund and
security in the manner and for tbe same amount
- as is required by the Cashier, in tbe sixth section
1 of said act.
Sec. 3. And be it further enacted, That tbe
said agent shall have power to appoint two Cletks
| under him, who shall receive the same salaries of
j the Book Keeper and Discount Clerk in said
Bank, and shall perform the same duties and give
: bond in the same amount as are now performed
and given by said officers.
Sec. 4. And be it further enacted by the au
-1 thority aforesaid. That the said agent shall per
form tbe duties and receive tbe salary of tbs
I Cashier, but shall not have poower to lend auy
1 lUw—ol ffl. Ot PWj" CWC
money whatever, except for tbe salaries of Ibe
I officers and tbe contingent expenses of the Bank
' —lie shall direct all judgments in favor of said
Bank to be collected as speedily as possible; shall
forthwith place all notes and' other evidences of
debt belonging to said Bank, and now past due
in suit, unless tbe same shall be renewed upon
tbe terms of tbe original loan,- with such addi
tional security ss shall satisfy said Agent; be
shall renew no note or bill unless tbe interest and
the instaimen due according to the terms of orig
inal loan be promptly paid; and all notes or bills
now running to maturity also to be placed in
suit, if suffi;red|lo lie over for two months; be shall
prepare a schedule of tbe Bank bills of the Cen
tral Bank in its vaults at Ibe lime of his appoint
ment, and shall, on the first Monday in each
month, prepare a schedule of such bills as have
been paid in during the preceedin l montb,and pre-g
sent said schedule to the Governor, who shall
cause the same to be filed in tbe Executive of
fice.
Sec. 5. And be it further enacted by the an
te thority aforesaid. That his Excellency tbe Gov
r, ernor shall compare said schedules with tbe bills,
it and if found to be correct, shall cause said bills
)e to be burned.
e . s ec- 6 - And be it further enacted by the au
rl thority aforesaid, 1 hat hia Excellency the Gov
s ernor sh-H cause bonds, payable in alx years and
a- besting an r. terest of per cent payablesemi
rt annually, to be prepared for the purpose of find
,l ing the bills of said Cenlral Bank: tbe bonds :o
„ be issued in sums to suit the holders of said bills,
, e but no bond to be issued for a sum less than
s , one hundred dollars.
ie Sec - 7 - And be it further enacted by the au
n thority aforesaid, That all laws and parts of
j t laws militating against ibis act, or which require
|. appropriations, or any debts due by the Stale, to
be paid by tbe Central Bank be, and the same
a are hereby repealed.
i
it From the N. O. Picayune.
t- Latest from 'I exas.—Tbe steamship New
y York, Capt. Wright, arrived yesterday in 30 hours
:s from 'Texas. In tbe few days that have inler
ir vened since the receipt of our previous advices
t, nothing new has transpiied. Congress had done
i- nothing nor had a quorum been formed in either
n house at the latest advices from Washington,
>t which is temporarily ‘mado the seat of govern
e ment. Gen. Houston has issued his proclamation
g calling the members to meet there in regular ses
i- sion on tbe sib inst.
i- The accounts from the army are vague and
e contradictory. Many ol (be men have returned,
o but it is said that Ibe greater part of the force is
I, still in the vicinity of Bexar and determined to
n proceed.
s file drafted troops of Montgomery county are
It daily returning from the army, and those who
4 have arrived report, that nearly all the drafted
men in camp wiil return in a week or two. The
i, streams are so high and the roads so miry that
a many are unwilling to travel. Several hundred
II volunteers remain at Bexar who are still desi
rous lo march westward, but are prevented by
- the inclemency of the season.
0 A. M. Green of Virginia, has been appointed
e U. B>. Consul at Galveston.
e One of our correspondents writes as follows:
• Gaivf.ston, Dec. 3d, 1842
• 1 would very cheerfully give you some items
by the New York this morning, but really there
s is not any thing gjing on in these parts worth
1 publishing, Men.bers of Congress have been
r fooling about Washington for a month past, re
fusii gto oigiuize because the western members
! warn io meet at Austin, It would be a good thing
lot the country if they would go home—they will
> do less harm in their individual than in their of
■ ficial capacity.
I When any thing happens worth writing about
- you shall have it.
’ The N. O. Tropic of the 6lh inst says,—Still
another of our banks resumed specie payments
f yesterday—the Canal Bank. There was no run
upon that institution, or upon any other bank.
All of our banks that are in good condition, are
now specie paying banka, and seem to be in as
prosparous a condition as any banka in tbe Union'