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A-sm ffia IV. O. Tropic.
important from Yucatan.
y 500 MEXICANS KILLED IN BATTLE !
By the schooner Tiro Sons, Capt. Boylan,
which arrived yesterday 3j days from Sisal, Yu
catan, we have been furnished with full tiles of
Yucatan papers to the 10th inst., and verbal in
telligence to the 14th inst. The Two Sons was
the schooner bearing despatches from Commo
dore Moore, reported to have been captured by
the Mexican steamer Montezuma. This vessel
was fired upon by the Montezuma and boarded
by the officers ol that craft, but no attempt was
made to search the schooner. —The Mexican
officers drank a glass of wine with the officers of
the Two Sons, and left them.
The Montezuma and Kegenerador steamers
with two brigs, had arrived at t^ampeachy,from
Vera Cruz with reinloreements. The following
paragraph appears in one ot the Merida papers.
The whole amount of the present reinforce
ment will not exceed 300 men, who with the
former 400, will make seven hundred in all. be
ing the total force the Mexican government has
been able to detach. We have now but -2500
men in all to combat. Courage’—Ten thou
sand would bo too lew to conquer us, and what
shall we do in circumstances like these? In
considerable numbers; ignorant officers, and in
competent generals'
A pretty warm fight took place on the4thinsi.
On the first the Mexicans 100(> strong, under
command ofGcn. Andrade, took possession ot
the fortified town of China, about two leagues
from Campeaehy. We notice the followingof
ficial despatch from the general in command at
Campeaehy.
General in, Chief: — Late to-day I have learned
positively that the Mexicans have taken posses
sion ol the Town ot China. This event which
I had foreseen, and which seemed a preliminary
step to a movement on inj - camp, has induced
me to seek by everj' means possible, to ascertain
the exact force of the enemy on that point, in or
der to forestall liim in an attack which I propose
making on his troop, to-morrow morning, dis
posing iny little band in as convenient and as
effective away as possible.
The steamer Regenerador joined the enemy’s
squadron this morning, and the Montezuma lias
been occupied all day in taking possession of a
post in the village of Lerma, fortifying it with
two heivy guns, and manning it with a launch's
crew. Four deserters came in to-day. The
firing Irom the heights has produced no result of
any importance. 1 mention this to make your
Excellency aware of their exact force, so that
you may take your measures accordingly.
God and Liberty.
Quarters at St. Francisco, Extra-Muros,)
Campeaehy' 2d Feb. 1843 j
[Signed} SEBASTIAN LOPEZ de LLERGO.
To the Secretary of War.
Al three o’clock the morning of the 4th, 900
rnen commanded by Gen. Llergo, sallied from
Campeaehy, and betere daybreak the advance
guardof 156 men attacked the Mexican outposts
and the Mexicans retreated to the village, where
a brisk skirmish ensued. Soon alter the main
body of the Campeehanos reached the scene of
action, and in the confusion, fired upon their
friends Instead of their enemies. By the first
discharge of their cannon about thirty of the ad
vance guard were slain. Finally, a general en
gagement ensue<X the soldiers on both sides fighl
~ng with considerable bravery and vigor. Over
51)0 Mexicans were destroyed in the engagement
Among the killed was the commander, Gen.
An trade. one Colonel, and a son of President
•Santa Anna, holding the rank of captain. On
the side of the Mexicans, the slaughter is repre
sented as most dreadful. The Yueatecos lost
but 70 men. The village church occupied by
the Mexicans at the commencement of the en
gagement, with one or two other buildings, was
burnt This action itis probable, will be attend -
ed with important results. The Mexicans ne
fiire Campeaehy will be convinced that they are
contending with a foe not easily daunted. We
are informed that the Yucatecos intend to issue
a Declaration of Independence, and adopt a Na
tional Flag immediately.
The account of the attack upon Sisal by the
steamer Montezuma, is fully confirmed. About
8 o’clock, on the morning of the 28th of Janua
ry, the Montezuma made her appearance in the
harbor, w'ith the colors of the United States at
hermast head. When within distance to reach
the town with her shot she. hauled down the star
spangled banner, and her officers amused them
selves by firing at the town about an hour. The
principal damage was sustained by an Ameri
can schooner in the harbor, the name of which
we could not learn.
We are informed that the Campeachanos are
in fine spirits, and there is not the slightest pro
bability’ that the city will fall into the hands of
the Mexicans. On the contraiy, if the Mexi
cans remain in that vicinity much longer, they
will experience greater reverses than any that
have yet been recorded, ending, perhaps, in the
total destruction of the fleet.
TWENTY-SEVENTH CONGRESS.
Correspondence <f the Charleston Patriot.
Washington, February 21.
In the Senate, this morning, a great number
of reports of a private nature, were made irom
committees.
Mr. White presented joint resolutions from
the Legislature of Indiana, in favor ot a reduc
tion of let; ■ • istage.
Mr. Cho. re, from the Naval Committee, to
which had been referred the House bill for the
relief of the heirs of Fulton, reported the same
without amendment.
The bill to refund the fine of General Jack
son, was taken up and read a third time, and
passed by a vote of 38 to 20.
The Navy Appropriation bill from the House
was next taken up, and debated at great length.
1 presume the Bankrupt Repeal bill will he
postponed till the last moment, as there appears
no disposition to act upon it at present.
In the House, the first business was the mo
tion to print extra copies ol the reports from the
Committee on Wavs and Means, adverse to
the 200 millions laud scrip scheme.
Mr. Thompson ot Mississippi, having the
floor, occupied the morning hour in a severe re
ply to a speech from Mr. Granger, the other
day, in which the latter had spoken rather free
ly relative to the repudiation of Mississippi
bonds. The motion was then laid over till to
morrow.
Mr. Pope gave notice, that on the first oppor
tunity, he will ask leave to introduce a bill to
establish the credit of Government, and other
purposes.
On motion of Mr. Fillmore, the House then
went into Committee of the Whole.
Mr. Kennedy called up a bill appropriating
$30,000, for testing the practicability of a sys
tem of electro-magnetic telegraphs for the Unit
ed States.
On the reading of the bill, a general murmur
of disapprobation arose; members having no
idea of expending so large a sum in these hard
times, for trying philosophical experiments.
Mr. Cave Johnson said it was but the other
day that $2090 had been given fora Clerk of the
Weather, and now it was proposed to give 830,-
000 for electro-magnetism. He did not know
where gentlemen were going le stop; but at all
events he was for justice to all branches of
science. He would therefore move that one half
the $30,000 be expended in trying experiments
in Mesmerism. (Great laughter and cries of
“well done Johnson; stick to it.”)
Mr. Stanley' said he would have no objection
to the amendment, provided Mr. Johnson would
” consent to be experimented upon.
Mr. Johnson said be would do so cheerfully,
provided Mr. Stanley would perform ths experi
ments. (Renewed laughter.)
Mr. Wise desired to know whether this Mes
meric amendment was a debateable question,
tt so he wished to go into the merits of it. (Cries
of “debate it Wise.”)
Mr. Mason thought the Chair was hound to
use his discretionary power by refusing to en
tertain amendments not intended as bona fide
propositions, and not analogous io the bill.
The Chair declared that it was not for him io
judge the motives of members in offering amend
ments. Neither ceuld he undertake to decide
that Mesmerism, was not analagous to electro
magnetism. It was a very delicate point. (This
decision gave great satisfaction, and members
considered the whole affair a capital joke.)
Finally the amendment of Mr. Jolmson was
■educed io writing, and rejected by tellers.
Mr. Adaius then called up the bill appropria
ting slt >,OOO tor establishing a diplomatic inter
course between this country and China.
After some explanatory remarks, Mr. Adams
moved to strike out that portion of the bill which
wovides that the sum shall be accounted for by
ibe President in the manner prescribed bv the
Act of 1790.
Mr. Meriwether made a speech against the
imendment. He thought it would give the
’resident too much patronage.
Mr. Clark, of N. Y., followed in a violent po
litical speech against the President.
Alter further remarks from Messrs. G< rdon
and others of a political character, Mr. Hclmes
ook the floor, and eloquently advocate I the
ill.
Mr. Bronson moved to strike out s4o,oooand
j insert SIO,OOO to defray’ the expenses ..if an
■gent to obtain information only relative to the
■ropriety of sending a minister to China.
Mr. Holmes sail! he would rather have noth
ing than that. A Chinese Juggler would be
setter.
I'he amendment was rejected. The amend
ment of Mr. Adams striking out that portion of
the bill restricting the President, was eon urred
in. The bill was then reported to the House,
* nd passed by’ a vote of 9b to (>9.
Auer another ineffectual attempt by Mr. Ad
ms to presenlhis mammoth petition, the House
-xljourned.
I learn that the majority of the Committee on
Ways and Means, have at length come to the
conclusion to report no bill relative to the Ta
riff. Mr. Fillmore says he shall rely U] on the
statement of the Secretary of the Treasury and
leave the whole responsibility to him.
Washington, Feb. 22.
hi the Senate, a report was made fi am the
Finance Committee, adverse to the piayer of
numerous memorials, asking a draw l ack on
domestic spirits distilled from foreign ni< lasses.
Mr. Walker called np his resolutions, declar
ing the inexpediency and unconstitutionality ot
ibe assumption of State debts by the Genera!
Government.
Some discussion ul a conversational charac
ter arose as to the propriety of eontinuing the
debate at this late period of the session. Final
ly, on motion of Mr. Talmadge, the resolution*.
by a vote of 25 to 18, were laid on the table. 1
presume they will not be again called up.
Mr. Young, alter alluding to the delay rela
tive to the Bankrupt Repeal bill, moved "that it
be taken up.
Mr. Evans said the better plan woul Ibe to
dispose of the Navy Appropriation bill. The
consideration of the latter hill was acco dingly
resumed.
Several hours were occupied in discussing
that clause relative to floating docks. At a late
hour, an amendment appropriating SIOO,OOO tor
a floating dock at Pensacola, was agreed to.
itis understood that an attempt to take up
the Bankrupt repeal bill will be made <>-mor
row.
In the House, another attempt was made by
Mr. Adams, to present liis enormous al olitioii
petition, but there were objections from every
quartet. He then moved a suspension of the
rules.
Pending this motion, Mr. Wise desired to
know whether one ot the signers of the | etition
was not a runaway slave from Virginia.
The Chair ruled the enquiry’ out ol order.
The question was then put on the motion to sus
pend the rulesand it tailed by a large vote. Mr.
A. intends keeping the petition on his desk for
effect, till the close of the session.
Mr. Stukely from the Military Committee, re
ported a joint resolution, appropriating SIOOO for
the purchase of a sword for Gen. Clinch, as a
reward for his bravery in Florida. It nas read
twice and
Mr. Adams from the committee an Foreign
Affairs, reported a resolution to prohibit all fur
ther debate on the French Spoliation bill, on to
morrow at 2 o’clock.
After some conversational discussion, the res
olution by a vote of 89 to 80, was laid oil the ta
ble.
Mr. C. J. Ingersoll offered a resoluti in cabl
ing on the President for copies of any coi respon
dence which may have taken place, relative to
the construction placed by the British Govern
ment on that portion of the late treaty’ which re
lates to the searching of American vessels.
Mr. 1. desired to have read by’ the clerk a re
cent speech of Sir Robert Peel* from which it
would appear in the British Parliament a very
strange construction was placed upon that por
tion of the treaty. The resolution was adopt
ed, but the House refused to hear the speech.
The Navy Pension bill, the Indian bill and
the Fortification bill were considered in Com
mittee of the Whole, reported and severally read
a third time and passed.
The bill provided for the construction of cer
tain harbors, the improvement of riveis, and for
the continuation of the Cumberland Road, was
also considered in Committee, but no action
was had thereon.
The Senate bill to refund Gen. Jackson’s fine,
was read twice and referred to a Committee of
the Whole.
A message was received from the President
in answer to a resolution, transmitting copies of
all the instructions, and letters to Captain Jones,
whtle in the Pacific. They contain nothingne w
relative to the Monterey affair.
We have had a regular snow storm to-day.
*The speech referred to is the one published in
he Chronicle & Sentinel on Satin day, among
be news by the Acadia.
8200,000,000 Government Stock.
House of Representatives, (
January 30, 1843. (
Mr. Joseph R Ingersoll, from the Com
mittee ot Ways and Means, to which the sub
ject had been referred, submitted the following
report:
The Committee of Waysand Means to whom
were relet red certain memorials, asking for the
creation of two hundred millions of national
stock, at such interest as shall at once command
capital at par, and the immediate distribution
of this stock among the States and Territories,
and the District of Columbia, by ait equitable
allotment, respectfully report :
During the last tew years, calls from different
quarters have been made upon Congress for the
adoption of measures in a greater or less degree
resembling those suggested by the memorialists.
A plan submitted as long ago as in the
month of October, 1837, is now, with few and
immaterial alterations, presented anew; and
other schemes have from time to time, either
made ilteir appeals directly’ lo the National
Legislature, or have become familiar to the
public through the medium of the press. Al
though thedetails thus severally suggested vary’
in some particulars, the outline of the different
plans, the motives that have induced them, and
the objects which they propose to accomplish,
ate esssentially the same. They look directly’
to a partial or entire relief of the States which
are now burdened with debt, and to the estab
lishment of a proper currency. As consequen
ces of these primary objects, they’ hope for a
restoration of national credit and individual
prosperity. All of these proposed ends are
greatly to be desired. They are in themselves
of vast importance, and they are at this moment
of deep and peculiar interest It needs neither
quickness of perception to understand, nor es
pecial candor to admit, a present deficient in
each of them. Many of the States are indebted
both abroad and at home. Several of them are
heavily so; and sdrne of them to a degree that
ls not only inconvenient, but burdensome and
distressing. A uniform currency of easy trans
portation and full value one that should be an
equivalent and a substitute lor gold and silver,
even- where diffused and every where accepta
ble—has no present existence. Government
credit, if it may be judged by’ the tardiness with
which subscriptions are made to its proffered
loans, is impaired among our own citizens; and
according to the evidences furnished by the
failure of a recent trial of its strength, it is for
feited elsewhere. Business is inactive and lan
guishing, and business men, who compose the
great mass of the people of the country, partak
ing of its depressed and feeble condition, have
lost the inducements and the means of exertion,
and arc thus deprived of the the ingredients of
i prosperity. A state ot things so deeply to be
regretted lias proved itself, by the long succes
sion of nearly six disastrous years, to be not
merely a crisis ot the moment, having performed
its work of mischief, might be expected to pass
away, but it has baffled every sanguine hope by
the length of its continuance and the increase of
its calamities. Measures that would afford re
lief in one or all ol the particulars that have
been adverted to, which at the same time could
not be avoided upon principle or objected to as
unreasonable, would be hailed by the statesmen
as well as the philanthropist.
The committee will proceed, under the refe
rence which has been made to them, to inquire
whether such will probably be the character and
the effects of the plaits of the memorialists.
It may be ebserved in the outset that the great
want ol the country is practical reliei. Scarce
ly a theory could be applied to it that would not
prove in lhe abstract that it is prosperous. It
were a sin to doubt its capacity to sustain and
nourish a population many times exceeding that
which can be reached for centuries. It possess
•es a fertile soil that cannot be exhausted; every
variety of the richest mineral productions; com
modities lor the support and comfort of life not
only abundant to repletion, but cheap beyond
example. Industry and dexterity are the dis
tinguishing traits ol the people. Mildness per
vades the administration and freedom the spirit
of the laws. These are the unquestioned pos
sessions of a suffering country that calls aloud
for something more, which even in their rich
abundance, those possessions do not bestow. It
were-both fruitless and pernicious to build up
plausible theories if they have not for their aim
substantial and permanent benefit. In condi
tions of embarrassment and distress, communi
ties as well as individuals are apt to believe that
any change would be a cure. They trust to the
application of what appears to lie remedial, al
though really experimental only; and they run
the risk of prolonging evils by recurring to pal
insrenrl of submitting to the more tedi
ous and painful process ot final reliei. Hence,
suggestions are made which, resting on no re
sponsibility, arc not always considered in their
various bearings, and having a captivating ex
terior, meet with a favor which might less freely
bestowed if they should be traced to their ulti
mate results. The National Legislature rests
under both a grave responsibility and a sacred
duty. It must take care, in providing immedi
ate means of partial or apparent good, not to
bring along with it collateral mischiefs. It must
look i<> final or less immediate consequences
before i: adopts plans or propositions, however
tempting may be the appearance of them, and
however well calculated they may be in reality
to afford temporary freedom irom positive suf
fering.
It may be admitted that the prominent mis
fortune ot the country is the indebtedness of the
States. This heavy load ot increasing liability
is attended with disgrace as well as distress. R
cripples the energies ot the commonwealths
that have incurred it; it impoverishes the indi
viduals who chance to have invested their
means, in undoubting confidence, in stocks
which were regarded as profitable depositories
rather than dangerous loans; and it hangs in
glootuv prospect over the hopes of communities
and private persons. Its still greater evils con
sist in the blighting discredit which it spreads
around it. This discredit is not cenfined to the
States which have incurred the debts. Their
ability tor active exertion is destroyed by the
necessary devotion of alt present resources to
partial redemption; and that redemption itself is
rendered remote if not absolutely desperate. Not
only is the particular State prostrate in charac
ter "as well as exertion, but the whole family of
sovereignties, in their aggregate eapajeUj, are
affected with the same distrust in kind it pot in .
degree. Self-confidence and self-esteem depend
to a certain extent, upon the confidence and re
spect of others. The loss ol them is apt to fol
low the forfeiture ot the respect of the world at
large, and, on their departure, come of the sa
fest guaranties for good conduct go with them.
To avoid danger and escape suffering, to re
move discredit ax once Irom the nation and its
component parts, the plan is pre posed of incur-
I rie'', on the part of the General Government, a
debt sufficiently’ large to unbrace, and absorb
the debts of lhe States
An argument will not here be pressed which
might seem to lie ungracious. But it will na
turally occur, that the nation did not contract or
contemplate the debts in question; that they
were incurred every where for the espeeial ben
efit of those who owe them: that they are the re
sults of liberal expenditure, and often of bold
and speculative enterprise; that they have been
influenced sometimes, not merely by the genet-
al policy and actual wants of lhe State at large
where improvements have been made, but by
mutual encouragement of local interests of
narrow extent and doubtful utility; and that,
where they have failed to accomplish any great
purposes of domestic revenue, they have given
employment to numbers of individuals, have
scattered money where it could nut fail to be
welcome, and have laid the basis of future
works, when in the greater fullness of time they
shall become desirable.
A national debt has at all times been avoided
by the United States to the utmost reach of their
ability. It has been the reluctant policy of oth
er countries to incur and continue heavy labil
ities, and to permit them to be interwoven with
their national existence. England owes her
eight hundred million pounds sterling; France
more than two hundred millions. Austria. Hol
land, Spain, and Russia, owe sums which,
though far short of those first named, are ot
great amount, and necessarily productive ot in
conveniences and evils. But all of them have,
besides the purposes which are common tothem
and to this republic, great military forces, which
are kept in perpetual vigor and activity. Eng
land has het hundred thousand soldiers, and her
seven hundred vessels of war, France has her
army of three hundred and fitly thousand men,
and her fleets of nearly four hundred vessels;
Russia has scarcely less than seven hundred
thousand soldiers, and between three and four
hundred national ships; Austria has three hun
dred thousand soldiers; and Holland and Spain
have their large standing armies. Neither vast
debts nor vast warlike equipments would be
congenial to these United States, that have no
excuse for incurring the one in the necessity or
propriety of maintaining lhe other. The poli
cy of their Government, the habits of their peo
ple, the character of their institutions, all require
an administration of affairs that is both frugal
and pacific. The pride of their rulers has con
sisted in being tree from debt, and they have
heretofore struggled successfully, and will,
whenever it shall become necessary, repeat the
effort to liberate themselves from the seeming
slavery and the real burden. They desire to be
untrammelled on the approach of an emergen
cy, whether ot war or commercial embarrass
ment, and to be able, in the day of need, to offer
to lenders of money the virgin pledge of an un
shackled faith. It would ill become them to for
get this wise and virtuous ambition, and to
charge themselves wt'th liabilities that would
increase the toad of taxation in time of peace,
and diminish or defeat the abilßy to raise ade
quate loans at a period when atone, according
to a true administration of our Goverhment,
they ought to be required—on the arrival of in
evitable war.
The proposed issue of stock is to pass from
the National into State Treasuries, and thence
abroad to meet the purposes ot its creation. It
may not, perhaps, directly' affect the prosperity'
ot the General Government, that, in performing
these offices, it must lose a portion of its stand
ard value ; yet it will bear upon it the stamp ol
the character, as w’ll as Ihe responsibility of the
nation, and it will be tai from creditable to it
that a depreciation should lake place. From
its origin, it must be made, in one sense, an ob
ject of traffic. First, it must be negotiated in
settlement of State debts. Then, it must be
sold by the creditors who have thus received it,
of whom the great mass are foreigners. Both
operations partake, in some degree, of a com
mercial character. The stock is not intended, i
is presumed, to bear a full ordinary rate of in
terest. It must find its value from a combined
estimate of its standing in the market, ami the
length of time it has to run. At what rates it
may lie received by foreign or domestic credit
ors, must depend in part upon the comparison
which they are disposed lo make between it and
the Slate securities, lor which it is to be a sub
stitute. Those Stale securities themselves are
of unequal Value; ail of them are uncertain
fluctuating, and arbitrary. If the creditors
should lie as little willing to receive Government
stock, passing through lhe State treasuries, and
at a reduced interest, as they have been to re
ceive it ftesh from the source of authority’ and
bearing the highest rate of interest, and of an
extent so limited that a serious doubt could not
be entertained of its redemption, they might be
content to remain in possession ol the discredit
ed State loans. If they should receive it at rates
proportioned to the interest which it is intended
to bear, it might so far discharge the debts of
the States; but lhe object would be accomplish
ed at a grievous sacrifice. These State securi
ties can now be purchased in the market at
large discounts. Vet the Government would
find itself, at the latest, al the end of a few years,
and immediately if the stock is to be receivable
lor Government dues, redeeming its loans at
their par value, and thus, in effect, paying at
least lull prices for State stock', although itmight
have been procured at from 40 to 711 per cent
depreciation. The effect of forcing a compari
son and exchange between the two different se
curities will rather tend to depress the value
of the better than elevate the standard of the
worse. In that event, another blow is struck at
the credit of the Government.
After the arrangements shall have been fully
made by the Federal Treasury’ with the indebt
ed States, and by the indebted States with their
creditors, the newly created stocks have impor
tant purposes lo fulfil. According to the memo
rialists, their chief end is subsequently to be ac
complished. They arc to be retained or pur
chased as investments, or used as currency or
the basis of currency. What shall ascertain
their price in either relation ! If they’ enter the
market at a depreciation, (and such must be
their condition, bearing, as they must, a lower
rate of interest than other loans which will do
well to retain their par value,) they will be em
ployed in payment of duties and other liabilities
to the Government. For this object, they will
be purchased at reduced prices, and will be paid
at their full nominal value. By this arrange
ment, the Treasury may' receive less than half
its proper revenues. As currency, or the basis
of currency’, the fluctuations to which they’ are
liable, must deprive them of essential utility. A
circulating medium must be as immutable as
the precious metals which it professes to repre
sent. It should be free from the influences of
political change. It should be able to with
stand the shock of public disaster, and to pre
serve its even tenor unaffected by the excite
ment ot great public prosperity. This can
■scarcely be the case with Government securi
ties. They are, for the most part, readily affec
ted by the latest political intelligence. They
rise and fall almast with the arrival of the daily
mails. They serve as a barometer, by which
the state of the political atmosphere is ascer
tained. If suitable and attractive as an invest
ment, these stocks would be gradually absorbed
by capitalists. If possessed of these qualities
in an eminent degree, they would speedily be
withdrawn from the opportunities of circulation,
which, without those qualities, they could nev
er reach. Sooner or later, they would thus de
feat or elude one of the principal objects for
which they were designed.
The pledge that is proposed of national faith,
and responsibility, would not, according to the
allotment of the memorialists, be large enough
to cover the debts of all the States. If the fact
were otherwise, and it should be sufficient to
cancel every liability of every State, is it certain
that the effect would be greater than to relieve
them from temporary embarrassment ? As the
Constitution now stands, the Federal Govern
ment holds no control over the power or the in
clination of the Stales to create or increase their
obligations. It is scarcely to lie expected that
such control would readily be conferred. Vol
untary stipulations to ab-tain from new engage
ments could as little be expected. It would be
to impose trammels that might be fatal to their
prosperity. Stipulations so injurious, if they
should be imposed, might not be regarded as
binding upon succeeding Legislatures, (a possi
ble and extreme case is suggested;) and the
temptation to abrogate them might be too strong
to be resisted. Many, perhaps all of the States,
have paused, from necessity or from reluctant
assent to the dictates of prudence, midwav in
itieir career. or even hi whet mav jirrnr to t/v- I
but the threshold of interna) improvements.
Where great works have been accomplished,
and are now in successful operation, they may
serve as a motive and an earnest for future ex
ertions. No limit can be fixed to the progress
of improvement. Each step in the long and
difficult path is bitt an advance towards the dis
covery of how much remains yet to be accom
plished. It was probably, to all appearance, a
well-founded hope that led to the past expendi
ture of millions. Will lhe hope be less briirht
which, encouraged by the accomplishment ofsn
much as has l»een done already, tempts to the
future expenditure of other millions by the
seeming certainty otaccomplishingmore Les
sons of experience are taught in vain, if they do
not inspire practical wisdom. If prudence and
forbearance are not to follow from the severe
penalties of extiavagance, however unreflect
ing, the sovereign States may hereafter vie with
each other in the boldness and the extent of
their implications. An inexhaustible source of
ready and rich supply in the power and policy of
the nation, always at hand, and never delayed
or denied to the seeker, would leave scarcely an
excuse to the Slate Governments, who should
omit freely to avail themselves of it.
Two hundred millions are proposed as the
litnd for general relief. The amount is fearfully
large, if measured by any other standard than
the mighty engagements which have been ad
verted to of European sovereignties. No doubt
can be entertained ot the ability ot the Govern
ment to discharge it. Yet the moment is un
propitious for its assumption, when the effort is
strenuous and universal to reduce the necessary
cost of the Government to lhe People. Wise
statesmen arc said to have formed the judgment
that its ordinary expenses can and oughi to be
brought down to 817.000,000: others, of no less
experience, of different political sentiments, de
sire to seeihc'iq limited to 832,000.1X10. Unless
the contemplaXed pledge of the pulflic lands
should furnish a large .supply both for principal
and interest, the proportion cf aggregate dis
bursements which the new loan would require
might cause the most sanguine to hesitate even
while they recollect, with pride, the discharge of
scarcely less considerable debts on more than
one occasion in the national history. Let it be
recollected that the payment is certain, while
the receipts are problematical. Interest must
be provided with prompt and unerring punctu
ality. The day of reckoning ior the capital
must surely come in its allotted time. Wheth
er the lands shall be sold to meet the calls must
depend upon a combination of remote and ob
scure contingencies.
Is it certain that even the large amount of
8200,000 tXtO will suffice tor present emergen-
cies? Some of the Blates owe nothing, and if
they receive the fund allotted to them 'fittct r:.
ceive it ior Hie payment id debts. Gnat may
be their disposition as to a fund now proposed
to lie inevitably pledged for a particular purpose
lias not appear* 1 1. They. may entertain differ
ent and irreconcilable desires in relation to it
Others owe so little, in comparison with their
resources, that, with or Without the assistance
ofthe General Government, they can meet their
engagements. But there are some that, with
their quota of Government stock applied, might
be left with more than halt lhe amount of their
heavy engagements still unsatisfied, it would
indeed lighten the load of Maryland and Penn
sylvania to reduce that ofthe one by $(i,8011,000,
and that of the other by $lB,Him,OlH); but it would
leave a linger sum lor each to pay than they
would respectively cmmuaiid by a long course
of judicious economy and strenuous and well
directed exertions, unless the hand of the Gov
ernment were again unclosed. If necessity, or
convenience, or want of thrill, should lead lo
renewed debts, it is scarcely to be expected that
they’ would be followed by' renewed gratuities.
If they' should, an easy calculation will demon
strate that even the great resources w hich are
relied on may be exhausted, and sooner or later,
the tide ot Government bounty must cease to'
flow. Should these inordinate desires lie con
fined to a few Stales, or even be narrowed to one
alone, although the pressure upon lhe National
Treasury may be less, the injustice and unrea
sonableness of the call would be more. A sin
gle imprudent member of the great republican
family might desire to become a perpetual de
pendant upon the easy forbearance or untiring
liberality of the whole. A time for resistance
would come, and lhe effort might be more diffi
cult from the fact and the frequency of its post
ponement. It cannot materially affect an argu
ment derived from a supposed state ot things,
that, at tliis moment, when the first step is to be
taken, and the dangerous example is to be set,
more members than one of the Confederacy
stand in need of assistance, or that assistance is
new, in effect, for the first time to be applied.
An inequality’ so vast as that which presents
itself in the claims ot the several States is not
among the least forcible ofthe arguments which
oppose the plan. While Vermont, New Hamp
shire, Rhode Island, Connecticut, New Jersey,
Delaware and North Carolina have, it is believ
ed, no debt, and have, therefore, nothing to ask
on the ground of relief, some of their sister
States hold their engagements in no dread, be
cause they believe they' can control them; and
others are so deeply involve ! that the whole al
lotment would leave them in a condition of in
solvency. It is hoped that, either with or with
out the assistance of the Government, the insol
vency will prove to be a temporary evil, and
that the States now suffering may rely’ with cer
tainty upon sell-sustaining efforts for gradual
but entire and honorable relief.
If debts of twice the amount were due from
individuals, instead of commonwealths, it could
scarcely be expected that any obligation, moral
or political, would attach to t he General Govern
ment. Yet many ofthe arguments now used
would apply with equal force. The same peo
ple would he interested, the same liability to
discredit and disgrace would tie encountered,
and the same or greater inconveniences might
be experienced by the country. Too great a
concession is required to the supposed igno
rance abroad of the true character of our insti
tutions and frame of Government. Who is
there, whether citizen or foreigner, that has con
tracted with the Slates, either by original sub
scription to a State loan or by subsequent pur
chase, and yet failed to know that he was not
dealing with the General Government! There
is an essential difference between the States and
the Union in all their respective fiscal concerns,
and a disregard of this known and acknowledg
ed difference can arise at the best only from rhe
triumph ot error and the defeat ol truth.
If this burden of oelit, which, oppressive and
disheartening wherever it is borne, is now-divi
ded among many Coinmonwealths, had elianced
to fall at this m a somewhalearlier moment up
on the National Treasury, it is not easy toron
ceivehow the whole country could have escap
ed from calamities more widely spread and dis
tressing than those which it is now called upon
to endure. Al a time when duties, during the
later periods ol v. hat is r ailed the compromise
act, or when importations as al this moment ate
small and other sources of productive revenue
are greatly reduced, the discredits now only re
flected upon the Government would have shone
directly upon it. with far more disastrous influ
ence. Such might have been the effects of caus
es similar to those which have existed among
the States. Great schemes were once contem
plated, which embraced, perhaps as an initiate
enterprise,a long lined internal improvements
which would have intersected the country irom
one extremity to the other. It, from such or
any other deliberate but well intended but dis
astrous system, evils had been brought upon the
country, the American people would have had
cause to lament the miscalculations of their ru
lers. But they would have been spared the bit
terness and poignancy of sorrow that must be
experienced ifthey should now become the wil
ling victims of an erroneous and self-destroying
policy.
the Government has been relied on as a prece
dent for the arrangement now contemplated.—
Soon alter the adoption of the Constitution, the
Secretary of the Treasury communicated to
Congress his conviction that an assumption of
the debts of the particular States by the Union,
and a like provision sot them as for those of the
Union, would be a measure of sound policy and
substantial justice. An act of Congress was
accordingly adopted on lhe Itliof August, 1791),
which authorized the loan of s2l,s<X>,ooofor
that object. Certificates of State debt were re
ceivable from subscribers in payment for the
loan. But the act provided that no certificate
should be received which, from the tenor there
of, or Irom any public record, act, or document,
should appear or could be ascertained to have
been issued for any purpose other than compen
sations and expenditures for services or supplies
towaids the prosecution of the late war, and the
defence of the United States, or some part there
of, during the same.
The arrangement, properly considered, ap
pears to have partaken rather of the character
f a payment to the States of debts due to them
om the Union that an original and gratuitous
ssuuiplion ot the mere debts of the States. It
ecognised a virtual obligation, as assumed by
the very formation of the Union, to discharge
the claims upon indebted States, which became,
while they were in that condition, component
parts of the Union. It was the substitution of
one combined sovereignty for a number ot sepa
rate sovereignties. It adopted a well known
principle, which, upon a change of Government
leavesail public liabilities unaffected by lhe
change. It acknowledged and provided for the
debts of the Confederation, and of the different
States which had composed the Confederation,
at the same time. Yet even t' is arrangemen
was made the subject ol solemn protest by the
House of Delegates of Virginia, who resolved
that so much of the act of Congress as assumes
the payment of the State debts was repugnant
to lhe Constitution of the United States, altho’
the fund was afterwards received.
Another incident in the course of legislation
has been sometimes referred to as a precedent
for the proposed arrangement. An act ot Con
gress, approved June 33, l<B3ti, directs that the
money which should be in the Treasury of the
United States, mt the Ist da> of January, 1837,
reserving five millions ot dollars, should be de
posited with the several States that should au
thorize the receipt of the same. But it provides
thatthe Stales shall give the usual and legal ob
ligations, and pledge their faith forthe safe keep
ing and re-pa , mem thereof, and that their faith
shall moreover be pledged to pay the moneys
and every part of them, Irom time to time, when
everthey should be required, forthe putpnsc of
defraying any wants ol me public Treasury be
yond the amouut of rhe rive millions of dollar*.
It went further still, and provide.! also that if
any mao-.*!«•«la pr.-mon
tion ot lhe surplus moneys on the terms propos
ed, they should be deposited with the othet
States agreeing hi accept them on deposite.
Now, the induccm-in* and the iugreuieni.* were
not only difllieul in that arrangement, but in
some respects the reverse of those contemplated
in the plan proposed. Then the leading object
waste escape the evils of redundancy: now’ ilie
object is to supply the wants of deficiency and
inanition. Nominally. al least, the former ar
rangement was a mete deposite, susceptible of
being at any motuem withdrawn: both in ap
pearance and reality, the present plan jsa fjual
and irrevocable gilt. The one epdjeat ored to
escape Irom the dangers and inconveniences ot
a load of wealth ; the other seeks to place upon
the Government a mass lhe most dislieartening
and intolerable, consisting of long-continued
poverty and doubtful e-.-ape from embatrass
ment and debt.
4 large amount of surplus revenue haft acctt
nuiia.tcd in the Treasury which it was danger
ous to hold am! difficult to dispose of. The
measure required nq iitfposition of debt, exposed
the Government to in, possibility of discredit,
threatened it with no liability tq embarrassment.
It held out an opportunity tor the exercise of a
liberal spirit without seeming to straiten the
energies ofthe munificent donors, and it indul
ged the feeling without compromising the inter
ests ofthe holders of a fund of which they were
in the opinion ot many doubtfully the proprie
tors. h assumed the shape of. and reconciled
itself t ■ some who were not entirely convinced
otitsstriet regularity by persuadingiliei'j that
it was, in reality, a mere deposite, to be with
drawn, if circumstances should change so as to
make the restoration of it desirable.
The memorialists impute all the prominent
evils and sufferings of the times to a single
cause. In the provision of a supposed remedy
for that one disorder, they express (no doubt
with entire sincerity) their confidence in the ef
ficiency of its sovereign power. They’ declare
it to be their firm belief “that honest debts can
not be paid; noble industry is turned idle; pri
vate faith is broken up: and public ci edit is
perisjt(n’t—solely for want of a proper curren
cy. Thu» eyil and the remedy are brought
w ithin a narrow 4ouinass. The want of cur
rency is the malady. -Au ■ife t'.ense issue of
Government stock is the iiifallii.'ij'tii.d.r^iiien:,
of cure. This position, whether tenable or cth-1
erwise, is unequivocally taken. It is precise I
in language and clear in sentiment. In refer- j
ence to a subject of great difficulty and some j
obscurity, it neither professes nor practices the *
smallest degree of mystery. An appeal so di- ■
red and candid may at least be uueetly met.
and its support or tcliitatioii,.' an be exposed to
little danger from obscurity. The niemorinh
v.hicb irive been qitiili-.i do iot . igce'i ,
other ag.ml ol ctn rcituy than thu certiticat' 1 * of
Government stock. They deny the possibility
of a sin l ', lent currency by min : they insist that
a soun I currency cann t >: exist, w ithout a
pr.qx:r Z.i.si's; they believe that that basis mat
be fomid tn the due appropriation of a smajl
jairtion of the national domain; and they a \
for the present anticipation ol ‘ otie-tenili pan
of this vast propi-riv,'' by the creation and im
medial'- distribution of two hundred million* of
national ..lock.
An observer, in biokmg round among lhe
scattered fragments of overthrown prosperity,
v ould fitiil it difficult lo persuad ■ himself that
nothing was required to restore them lo shape
and place but .the deposite among them of a
medium of . irenlaiion. Currency, or rather
the itistrnmem which is used in currency wli:n
business requires, w’ouldnotpay the State debts,
unless besides its creation it were distributed
among them. Even when distributed and dis
posed of according to its destination, it would
merely shill the debts from one place of liabili
ty to another, without, discharging them. But,
relieving the States by this additional measure
of distribution, without whirh the creation of it
is nothing, will not relieve the people, in whose
bchall no distribution is or can be contempla
ted. Il would not restore the broken fortunes
which have become the victims of speculation
or misplaced confidence. It would not by its
mere existence reconstruct the wrecks of pros
trate and bankrupt corporations, or replenish
the coffers of capitalists who have invested in
their s teeks; or fill again the stores of the trader,
who having sold on credit, holds nothing but
protested bills and notes in the place of his val
uable commodities; or inspire anew individual
confidence, which has been forfeited by the loss
id property and character together. These are
the deficiencies which prevail, and these the
consummations to be desired. It is over the
sad reality of the one and the absence ot the
other that the country’ mourns. As long as such
a condition of things continues, currency might
be poured in streams into markets where it
would find or create nothing else but currency;
and it would prove as unavailing as if it had
been deposited in a desert, or among men un
accustomed to the irQjgfities and the aptitudes
of business. CnrreWßre ’solely ” —currency,
which alone is supposed to be required in order
that honest debts may be paid, that idleness may
be turned to noble industry, that broken private
faith may be healed, and perishing public cred
it redeemed or saved—if it be provided without
the appliances with which it is accustomed to
operate, trade and confidence, and property and
good faith, would have little effect. It would
leave the country where it found it, save only
that it might he one degree further enfeebled
and exhausted by the additional and abortive
struggle to which it would be. exposed. Cur
rency, thus provided and thus unattended, might
raise the nominal prices of articles of subsist
ence, which are now depressed below lhe stan
dards of experience, and are almost on a level
with the reduced ability of the consumers of
them. It could nor, however, set itself in mo
tion lo pay debts nr resuscitate and give activi
ty to trade, until it should come fairly within
lhe gra-p of those whose necessities have occa
sioned fibe.one, and still continue to forbid their
encounferlhg the risks or becoming competitors
for the Itopes and advantages of lite other. A
proper currency is of inestimable value. This
committee will not intimate a doubt of its vital
importance to trade and commerce. But that
its selfosustaining energy is sufficient to supply
every want, and that it will alone relieve from
every difficulty, cannot be conceded.
It the existence of currency were the specific
that itis described to be, the committee will
not disguise their reluctance to see it consist of
mere issues irom the National Government,
resting alone upon Government responsibility,
and borne entirely upon the credit ul the nation.
In the ordinary course ol the exercise of its fiscal
functions, if the Treasury emit ■•eriificates or
acknowledgments in any' shape of pecuniary
liability, and these proofs of right in the holder
pas ’. Irom hand to hand, and thus perform to
any extent the offices of a circulating medium,
lhe effect is purely adventitious and incidental.
Treasury notes ate acknowledgements of debt
and promises to discharge it. Certificates ot
stock are evidences 'ofa form from the holder,
amt a.*surauces ol its reimbursement. Seldom
does eilherof them pass Irom hand to hand in the
ordinary course of business. Never arethev is
sued except w|fen necessity, founded on the" ab
sence or tailifle of ordinary revenue, requires.
If these or any other tokens ot Government lia
biiity should lie issued Ibr mere circulation, or
it, being already allowed for lawful and limited
purposes, they should be made lo answer the
evety day ends of currency, it is fearedthat they
may expose to risk the credit of the nation. The
issue propo -ed is of great magnitude— greater
many times thrm the wants or necessities of the
trading public have been supposed to require—
l;u greater, certainly, than tuc calculations of
tbo ■• who have suggested thesnpjilv of Ex
citeijuer bills in any saape would justify. It in
daily -.w, they must, in order io !.,■ tiseiul, carry
with them the certainly, il required, of daily re-
in their ■•‘iu?; te-rd. ;> fll time*in paymem
of Govenmn indue-. A close and constant con
nexion must be preset'.c.i between lhe circula
tion and the Treasury’; or it tosses its chtef val
ue. iu the reliance ol' jtio.se v. ho ate to receive it.
is; there not danger that this iatgcemission might
at a moment of emergency sink lo a depreciated
value, mid, after being lor a time practically ir
redeemable, become a standing proof of the in
solvency ol the Treastfey from which it came!
In this iutal result, it would share th? fate of all
Government ctu reney that has yet been issued
by other sovereignties. While an exemption
might be hoped tor our own, the moral liability
to so great a disaster should prevent those who
have the control of it from turning a deaf car to
the voice of experience.
it is not necessary to seek for examples if re
vohrtimiaiy France or newborn America, yet the
fate of Government issues of currency may be
read iu the volumes of it which remain outstand
ing to the present day. The circumstances,
however, were peculiar, and the cases are not
precisely alike. Someofthe United States fur
nish better illustrations, in tiie recentdate ofthe
occurrences, and the identification ot them with
the circumstances under which the contempla
ted arrangements are to be made. In one State
the Legislature caused a large amount of cur
rency to be issued, and made it receivable in
taxes and public debts. It soon fell to half ol'
its nominal value; and at that or a lower rate
it has been the medium, not of regular circula
tion, but of fruitless payments to the Treasury.
In another State, paper money was issued bv
authority ofthe Legislature, which was limited
in amount to the aggiegate of taxes then due,
made receivable m payments to the Treasury,
subject to be cancdled nt part as it should be so
paid, accompanied, as was supposed, by pledges
of redemption, and bearing interest at the rate
of six |er cent. With all these guards and ad
vantages, it ceased almost immediately to bn
used as currency, and became an article of traf
fic at greatly reduced prices. In a third State,
efforts were made t > increase the currency by
authorizing certain banks to issue relief notes,
which combined the credit ofthe Commonwealth
with that ofthe corporations that issu d them
and were redeetnaifle in State stocks. A*■ acu r
rency, they are unknown. I’ttrchased a) a djs
miurit, they are used in payment* to the Stale.
It i* beljeyed that they are smnetju;es pajtl out
again to salaried officers and other.-., who arp
willing to receive them with a cpttainlv ol loss
rather than wail fol the uncertain corning of a
more propitious moment, when they may hope
f.>r payment in something more substantial amt
satisfactory than depreciated miles and certifi
cate:. which were intended io b;. 1 the relieving
currency ofthe Government.
ft ba* been already contended that cttirencv
of any description, whether con*i'ti»g of the
precious metal* or of jiaper possessing no inti iti
little use where there is neither l>u-ine*s nm
the ability to carry it ..u. It mav be added here,
that the uvailable and safe extern of > ireul.t::: ■,
iiic-.i.iui vidl :-i-iitgal:;!-d .-very where,not u,
tlte will m power to place it in mere visible ex
istence on the spot, but by the proper necessities
and calls ol trade. It were to invert the order
of things, which are governed by sullu-ien’.lv
well-defined and ascertained laws, to anticipate
the wants of cwnmeree by a premature supply
of that which is merely it* instruim-ni. Cur
rency is the agent, mil the principal. It sec
onds’, with powerful and indispensable force,
the exertions of trade. It cannot usurp ajuri- •
diction or attempt the exercise r>f an influence
whjchdo not belong io it, without injury to the
i-mutiicrre which it i* intended to promote and
to the country which il professes io benefit, it
follows that the extent of artificial or representa
tive currency must be carefully adapted to a
given state of business. Hou can it wisely be
made to disregard the state of business, by be
ing forced at hazard into stagnant market*,
which afford no standard for measuring the due
supply, and which seem to call for the smallest
practicable quantity ! Expansion wouldnever
he an evil, it it were restricted to the reasonable
want* of trade. It becomes one the moment it
goes beyond those reasonalfle wants, and inflates
then? into'spemtiation. "It will not now be
doubted that the preyajliitg error qf the time
which preceded the present Jong sea-pp of de
pression, was redundant paper It was an over
issu? of curp-n- v. If two hundred millions are
Intended, as it should seem, to be scattered
abroad at once, lor a double purpose, il may re
lieve the stjflei ing States, but it cannot Benefit
a complaining People; for it far exceeds, in a
pitiueni course ot business, l.fot exigencies o
the country.
Many of the difficulties which ate apprehend
ed from the insecurity ofthe loan proposed, are
intended by its advocate* to be met and conquer
ed by a pledge of the public lauds and ah in
crease ol duties on foreign merchandise. Ad
mitting. ior tin- sake of argument, that the lands
will produce in current years a fund at all ade
quate to the object, a large portion ofthe coun
try would reluctantly behold them devoted to
this one object beyond the reach of recall in any
emergency' Another portion would contest the
appropriation of them, under any circumstanc
es, so taeic State Il is not, perhaps,
necessary tiCiv sosei’de questions which have
long agitated and divided the People and their
Representatives. The present product of the
lan is is small. General prosperity must first 1
prevail before it can be materially augmenteu.
lhe tir.-.t if certain: the last is full ot eoulin-
! gency. Should lhe reliance tail, the nation may
I latiuut, but itruimot cjrrei-t tin- ■•i n: . A ’■•■tn-
Hiuiiicntiijn liif .• •»;;• ‘ihf Ti ‘jr in ,
-4'the ISth ui ihf pr.-.-.-i!' Hior.lh. that Hie
•uni acluallv rcceiVs* I } b,ls -J.; in the
!a*t qiiiiru iol IHI I H‘u-b.iunbv H ruiijf
received, i m ■ ?'»1 '»!‘i 97
And tin- '■ li):i;ne<i ainonn; ri.'iii
'ale* ; I ihn-c otiir . from
Mhirh i-’lunis jiir Dccernbej
IbH, lune imr lic i) received,
taking the of l)e< rin
her. I*ll. ;i.s the b.'i 11 vl t. li
mate, i>llo,l2<‘» 35
Makin?, together, the .<mn in "r«>*s . .3M,‘)35 3A
< >r, for a whole year, at the saw.’
rate, the Mini 0f.... 1.159,711
The proceed* of the rales of the public lands,
for the last six years (not extending to that ot
1836, which was of extraordinary inflation) will
be seen from the following table:
Years. Acres. Purchnsft nionpy. Amount paid into
th<’ Treasury.
,SJ ‘ 601.103 <H .s«.' 7€.!i36 52
,83 $ 3.411.907 «... < ,3M3 .>6l 63 i 051.939 47
t5394,*»7fi,3M2 87... 6.464,556 757.(176,117 35
tW02,236.889 74 ... 2 7K9 637 53 3,292,f>83 ‘?9
,s n 1,164,796 11... J 463.364 061.385,627 42
1842 to 5ep.859.031 08... 1,079.366 42 1,091.638 9>
An annual averagi is thus furnished of
780,762 16$. It will he perceived that Hie sales
ot the two last years have been far below the av
erage. It will* be perceived, also, that the sales
have greatly fallen off during the last two years.
It is not known whether the same efforts have
been made recently as heretofore to press the
sales.
Whatever may be the rates of interest propos
ed for the new loan, the obligations to meet it
cannot be supplied by the proceeds ofthe lands
without a great increase in the demand for them.
At three percent., six millions will be lequired,
and if the full rate of six j>er cent, be allowed,
(which is not to be expected) twelve millions
must be received annually.
The same recent report ofthe Secretary ot the
Treasury shows that the cashdutiesaccruingat
the several ports from which returns have been
received, amount during the last quarter, to $3,-
116,370 73. The additional amount of $1,436,-
565 24, received on bonds formerly given, can
not properly be regarded in the estimate of actual
revenue from import.*, as it is only lhe result ot
previous importations. The estimate would
not be just that, after a change from low to high
duties en many article;*, should be founded mere
ly on these returns. But making every allow
ance far temportiry causes in diminished impor*
tations, and the whole amount of public reve
nue from customs, even should a considerable
increase of duties be provided by law, would be
required for the existing wants of the Govern
men<. The annual receipts at the custom-houses
agreeably to the above standard, would be fsl2>
455,481 92. These minimum receipts are not of
fered as a standard of future revenue; they prove
howeverthatno immediate opportunity i* afford
ed 10l- devoting evena portion ofthe customs to
tire exclusive payment of interest on a new and
voluntary pubiicdebi. r l‘herearc, besides, many
difficulties in the way of increasing lhe rates of
mpo.*t.s. A tariff law i> always passed un
der circumstances of iinbaira.'dhient and dilii
culty: conflicting interests are to be re< anciled,
and opposing judgements are io be < onvinced;
before it can force it* passage, it encounters .so
much delay and doubt ar all times, that assistance
from such a quarter can carrely be hoped Ibr
by the friends ofthe present scheme.
Il i*. not easy to determine whether the present
condition otbhe country, deplorable as il is. ptrs
entfr an asjsert more H.u a’rning with disaster
than that which immediately preceded it. The
past was an ma ofiuliation. the present !.* oneol
collapse .\.>w nmnev can'poraiiun.* ate <’iip
pled. in proportion io their ibrmer aciivitv and
seeming power, is their pie«vni benumbed and
feeble state. Sea ire ly a capitalist has
wirhom severe loss from mej-c investments, and
many are ruined from no oilier cause. <
dene * i< denied even in ordinary tnisaciioiis o f
business. The most da ring. wan tonnes* ol spec
ulation is al resi. Domestic goods have accu
mulated until they arc a drug. The national
vxehequji is made to feel this general .sfagm.tion.
Even the lasi expedient of the thrifii -s—borrow
ing itself-—has partially failed. L'ndcr these
| (‘iieiunsianccs, if currency could Le infused
1 with the natural effect of its redundant supply,
ii might bring back fur a season a swollen and
: exaggerated condition of business, that could not
; be more lasting than it was in: unrs pasl. Then
I corporations abounded and receix ed too easy
I confidence; capitalists received rates of interest
irom invcsiments in them that they deemed as
■ >erme in the f.iltire as they wrie brilliant iu
! present return: mutual dealings were not
only marked by unhe.*iiating mntur.l trust, but
i they grew into speculation which ahnostentire
ly usurped the place of sober husines*. Theles
! son of calamity is learned by heart. It is less
i exciting, hut perhaps not less wholesome, than
I the wild intoxication dt half a dozen years ago.
i If the disposition to profit by it be as sincere as
the moment its opportune, the country may tin I
ii* way through lhe dark - hourof distress, andas
! surne a healthier tonethun any ii possessed amidst
ilw dangers and the excesses of artificial health.
, Hd (UAMJULhIUAX, iU.trtJl.f..li ' .AIUUtV, U<. ■ ,
i's (‘Hrngics am imimp;.iird : if- room. » ■•* ait
tmdiminishe i. When all the suiplus produc
tions ofafertilc soil shall lind a profitable mar
ket, prosperity will gradual!}' but surely return.
.A fairly reciprocal arrangement with the popu
lous nation* of Europe, which should ojien their
ports to ail lhe staple commodities of the United
States, would encourage industry and hasten the
return of better times.
Whatever may be lhe merits ofthe plan ofthe
memorialists, doubt*, ought no longer to exist of
its ultimate fate. Ifi be wise, salutary, and
practicable; it lhe rigin be perfect and the obli
gation clear, let it be carried cheerfully into ef
fect. It lhe reverse be true, how disastrous may
be lhe consequences ol its open and unsettled
state’ Expectations are in that vicv. kept in
resiles?, anxiety which cr.n never le gratified.
Kcliance is invited which must prove not oidy
deliuive but disjHtruus. What Htate, in the
lull hope of relief from the General Government
can summon its own energies to its rescue? If
it could, the temptation lo delay and furtheiTia
bilit) are too powerful to be < neon rag 'i. The
nation sufleis while the question is undecided.
If, indeed, the vast load of foreign debt can and
ought lo be discharged, and the sacred duly is
not performed, if that ability be not only obvi
ous but of easy exercise, the absence or the delay
id efficient action is jussly matter of reproach
a.nd increasing obloquy. Let the question be
decided at oijcc and foicver, for ourselves and
forthe world.
The committee re. mmnend the following re ■-
ohition:
/?«.W/:/'/, That it is not expedient to grant lhe
prayer of themeinorielists, and that theeominit
tee be dss<‘barge.! from lhe fuither cun?-iJoration
of the snbjec’.
Charleston Kaces.
TViirfl Day—Mile H'-i!*— Pars.
USSVI.T.
Mr. Kinkier (R. M. I • veau'. s) ch. c. // >
3 years old, by Bertrand Jr., out of Imp.
Alania’I I
< *ol. Hampton (Mr. Lamkin's)< h. m. Mam
Clizabdh. 6 yrs. old, by Andrev, . dam by
Gallatin3 2
R. M. Singleton'< k. m. Kt/tr C-nm, . 5 yrs
old, by Imp. Non Plus, dam Daisy,2di
Time —l*t heat 3m. 525; 2d do. 3m. 19*.
/ 'rma f-ie Df.woeratic Heritic of January.
The Dying
John l ii 1«. a native of (Jonnecticut, was
probably' (he earliest inxcntm of the steamboat,
in the ycai 1786. on lhe Delaware Eiv.-r, was
made LHibs! sui-cesTul experiment: but from
lack ol siiilieieiii patronage, he was unah|e i r
carry uiii Lie discovery. Ilis life was one of
liaidship and penury, and ended in grief and di--
appoint me i. H** was confident, however, to
L'?e |a*u ini.e ultima!*- success m hi< inven
hon. ]■. i te i all its LtinnI’va.-tne.;< 1 ’va.-tne. ; < an i
advantrtccr. IJi >‘hin t reipie i was. (hai hr
might 1-G‘l 'l’i.- ; ..1} !!>•• b-qpN i.f i|.< ( V;j i. /
In .'out •.* .*/ i.i' t’Gti.'i/tcil Gtidiil th' a i', l a. ,
of hi? ylarrant! thr /////.•■-r/ ihy
sinc wHir —the ruling f.a>-i<»n strong ;
in death, and it was gratified.
Where t.rnad >u eepi..-
aioriiurly lOY.ard th* ».*fou.' ohii
He pravtsi ui.yin b. hi> In.if Ice, ... F
tii> lal.**l uo-l. b.NOuh Gh .
M.m 1... un if ••.Ik. -eve..,, cv.e
To W.Mkllie lh< titfhl hi* geni.4Ml.lvr,
Wliuhro l.rlL-l,! !»,. m. -all. bark .1:. ...
In. V Li-rd .. tb.*l M.11.1.< ...
Ik lived one scene r.l unnt hh<l Mtr.ov..
A 1.-,.-i Mi st, it tumbled <i. e-»r..
Each scant to d.u t.-.l l.\ to-innrro .v.
V. t t..ilr<l he Mill h.* ion- *rhr, tl ,
’Twar l,i> to meet the world * d. riMon
f'.»ld doubt ol I, ~.„ds. loun ta.mi
The nuxke . of -It: ’diu.iu - isi.oi. ’
For truth t*. whit Vibcir ”‘v>i un- htin.!
He lived not lo the «rr.tl luhilh.tg
Hi* g. ~,.,. mw J -ough: mD..
And for tint fnt.ii.*, mt and willing.
Kndur-.l pnvuhou.ptinand v. ,
He heard th. i. m.ghlv v .ice*vb.-».»nding
Bv bine Atlantic strand
\nd watched thea.i <. . r i-wide , k e b 0..,
Hvial.ls t.. every Urthesi hud.
He >aw them « li.ah • ach olden nv.-..
Europc.l ,ir Via> fabled Mr.-.nu*.
J-aiv U.H - l.ulde., tloodH.leln.-.
MM tb. i, oro.’ long dr.-nto*
He saw wlmt jet *l, .11 be ea.ti. • i. oud
}b*or long th.-stein design maj stecj
Steani tiaviexla.mcU their ir-ii thund. .
|n battle o ertheirenjtding deep
He siw, foretold, jud. heart clatej
Lived on this <ueam ot brighter
And caught afgr the that waited.
Hi* lowly toil, hi world-wide prai>e.
Then turned and thn.tght. with maddened -,.irtt.
Tnne > judgments how i.ujuM. and uni. '
Hnw happier baud* would seize his rnvrir.
And wield the palm and reap the gain.
He knew the thoughde** world nngniiri.il
Ho have it- noblest -pints known.
Sull ol th.* life-debt ail forgetful,
Or pays whet, hu who earned isgmie '
ID mused, and toiled, and died : they mad. 1..m
A bed beside that lair btoad w.iv.-
There to his lonely rest they laid lim.
Where few now mark hie humble •mu*
At mnrn.at nonn. when eve i* st.-rpiiig
With shadowy red the rnr, '> t.rra*i
Xs alar light mi lhe charmed w . r sleeping,
tfn peaceful mar c > spirit rest ’
j. s. a.
It£CM.OO£.A, Ala.
nre o! thi I
N;:v. V . I’.l .2L !-’l3
The Ln i-chs h.• » >•. b h i< .id, 4ind
is an <j ; . inty - I wcnlv heir bouts brin/ lhe
lon: ~ t iint.*i.n\ Hiimj i • c..n‘i Lied a novelty
< .’Ommerrj.l prop!.- <•: nsif. - '.I ibr • t v. s :
dcci'lrdly nrii;,; mabl • J<» ll.r ».i inn !<• I.
« This staple r> quoted .is dt i lining at Liverpool
I 'l’hi** <m i i .e enoiiiHHi* freights irnst cans’*
paralysis in the murk t. b’loiir isqu*. led in
Liverpool al duly pai.i, which will prevent
Inither shipments from ini* ceuntn .
'l’he .Acadia brings nearly a niillLnof peck*,
one half of whirh is for Brown, Ihi theis 6 Co
of this city.
Another of our old standard- is irone—Peter
S. Jay, Esq., the son of John Jay, ot Revolution
memory—his death was immediately caus
ed by an inliamation of the lungs. .le was uni
versally respected bv those who had the pleasure
ot his acquaintance.
Look out fop Got ntkrfeits. —The Mobile
Chronicle says Ten an I Fifty Dollar bills on
the Alabama State Bank at Tuscaloosa, were
discovered yesterday in circulation in this city.
The 50’s are soperlect in their execut ion, as to
defv detection, except by the very best judge*.
The Progress of Improvement.—“ Mother ’
asked a tall gawkey, “what did you and dad u-<*d
to do when he came ’a courting you?”
“Good airth and seas! what do you mean Jed
ediah?”
1 went over to see Peggy Doolinle
’totl.er night, and she told me I didn’t know how
to court. I asked her to show me how, and sez
she ‘ax your martn? Whai did you do mother?”
“La! suz! Why Jed, we used to sit in lhe cor
ner and cat roast niikey.'* Good! gracious’
times ain’t as they was used to was sari in. 'l’he
only thing Peggy’ gin me was a cold raw pickle.”
M A R R JED,
On Wednesday evening, 22,1 instant, by the
Rev. George F. Pi wee, Mr. Ejjchs-erce Carey
lo Miss Martha 8., daughter J. B. Ntoekron,
all of tills city.
(ionuncrtiiil.
Latest dates from Liverpool February l
Latest dale- from Havrel'. brn uy 2
FORR!G\.
Prom Witmer $• Smith'it Kuropeon 'l iiu-' i. 1.
STATE OF TRADE.
Manche. rcji, Friday Evening. -W<* have had
since thi; day week a farther dc< line in nil quali
ties of piimiiig cluihs and shirtings, equal to a
bout 3 per rent: and the market closes lu asily at
the d,>r|ine. Twist is also A perc-mf lower. The
best 40 mule in selling at 9*d per lb.
Mancmesi ur, Tuesday.- We have hn.l nnotln r
lifeless week in our cloth market, scarcely ever
was it known when less has been done; and the
consequence lias been, that needy sellers have
submitted lo a further decline ot tuliv Hd :t pi» re
on most s . t*. oi printing cloths, and tun inutket
closes v< iv In avil v for these goods at lhat decline.
This mal:< s the decline 4id m ‘hl apire on the
late top pile. s. Shirtings, which have of kite
been most in (Jemand, are now steadily recedinQ
in valtu . :;nd a fa. tin i .*ui:dl df cline in that mu
ch ii,.- been • ■ :• i ■ his day w .•« k.
The demand for India, &<*., seems to have been
quite saii.died h.r in.- present. There is nothing
favmabl. t » t. port of the .’wist niarkvt; if this
article has n..t ;• reded a.? much as have goads, it
is attributable to th* stocks having of late been
all bui exhausted. Shipper.•, however, are veiy
shy, evidently resolved not to e .nrnrii.. opcir.-
tions till the veiy la. c t monu nt.
I.ivekfocl. February 3.
We have to advice, an i-uporianidecline in cot
ton in out market since the departure of th. last
St, -aiiw-r, -th ulf. amounting ro about Ad per lb.
The drpn sion has Leon gradualbut mainly since
the middle of the past month. The continued
unusually heavy import ii\»m the Lnitid States,
and the urgency with whirh th< .‘real portion of
it has rontioued t i be pre*-td upon the market
as soon as landed, together with the accounts of
the great excess of the supplies into lhe .Ameri
can ports, have produced s.mn thing approaching
a panic here; and our market has also Leva un
favorably inlhienri d by a considerabl; dt precision
in th. value of goods and yarns', though not to the
extent of the fall in the raw material, and doubt
less caused in part b\ that decline. The Man
chester market also feel* the effects of a st h« of
considerable stagnation in the home trade; and
the accounts by the last overland mail m the
eastern markets, are less encouraging for manu
factured goods than had been anticipated by ma
ny—perhaps unreasonably at so early a period.
'l’lic business in cotton for four we<*ks io thi*i
evening, amounts to 163,950 bah s —this w<*( l.’s
sales being 28,500 bale®, of which 9SOO an Up
land at 3; a 5 j 11,280 Orleans at Bi a 6; 3910
abama and Mobil.? at 3$ a and PO Sea Island
at !H a 22d per lb. About 4000 balesoi it have
The quola’limi iftr TlffT Upland in now reduced to
4;;d, fair Mobile 4j: and fair Oilcans 4jd pt r lb.
These rates, so much below all former precedent,
have produced rather more demand to-day and
yesterday, with s >me speculation, which has
swelled the week’s hueine*' as above., but the de
mand has been so superabundantly supplied that
buyers have bought hilly as low during these two
days as before. Thu import into Liveipool since
Isi[January ha. Open 185.000 bales, against 140,-
000 to same petiod last year: the import of Amer
ican is 165.000 against 98,000. The stuck in this
port is about 523,000 ball s against 459,000 at same
time last year—the stock of American D about
326,000, being an increase of 00,000 bales.
/'*// the Aeudia at HafJon.
Livziibgol Cotton Market, Satinday -Night.
-No new feature was apparent in our Cotton
market tu-day; business was transa< ted in a spir
itless manner, but our last <;u<.tations remained
undisturbed. The sales altogether consisted of
3500 hales, the principal portion of which w< n- A
merican.
Liverpool, February 3.
Cotton.— There has been a fair demand dming
the present week, but a further decline of ,'d per
lb. in the value of American has taken place.-
Fair Upland are nominal at 4Jd. being j below
the lowest point oi depression. Tin* imports are
large, and we cannot 6ee any prospect of a speedy
improvement in prices.
REVIEW FOR THE WEl’.!.' ENDING FUR. 3.
The market has had a very heav) and depressed
appearance dming the past week, although a fair
extent <>f business has been done, mme especial
ly (luring the List day or two. Th- sale* <.f the
wick amount to 23,9.00 bales, of which 4.0(H) A
ineriean have b ■. n taken rm speculation, and 1200
do. for export. The import of th • week arnminis
to 69,33'> bales. ?. decline of fully |d has Imm ii
submitted to in American description*, ami Jd io
|d per lb in Brazil, and the latter, from limit< d
demand, continue almost nominal nt this reduc
tion. Egyptian and Surat barely support former
rates, hut we cannot make any positive change
in prices. The Committee's quotations i u fair
cotton arc as f- llows, vi..: B i.v. d lid; Mobile -Ip,
and Orl-an i p. r lb.
January 21.
The trans.u ii »ti 3in cotton to-day have been
moderate. 3,'00 b iles have met with purchasers
at mu last (piotatimis, and the mrnket lil.m been
liberally supplied.
Januaty 23.
A modernt»‘ atnoimt <>f Im im s* has been done
in cotton t.i-day. but th • mm..el h’u* ha I a very
dull t me, a.ci about bak-i have m-t with
huveis at pi si ms rat< s. Expoiters h tv--taken
S(XI Aim si-an.
Jaminry 24.
There war. .. mod., ran- iaquii v lot cotton Hij
morning, and the ••al<c<*mpii aliutit 3 609
bales, for v. hi-h previous rates wen üblninr d;
2.000 wen- taken on speQitlati »;i.
Jan nary 25.
l;.iv. had a fair inquiry fur c-Hiou to-day,
but the i.i his br-en pionliftilly supplied at
Into rates, and Lm iness was tram-acted in a l.in
gilid maim, r, 41’JOO bales have been sold, inclusive
of IT.O a' ..7’'i TjVmH "i‘. FHhl” “20tfsnraZ :Ud
10-Id: MO I gyp Up. 31 l ) Almualm u. std;
; 6! ' ! -J i!llll0 ,
Our market has been dull to-day, and pijr.->
have btv-n rathm in favor of buyers; 4,000 bales
li'i-.'i changed hand s , in elusive m 100 t; ,■ i
Jami ary 28.
The ? re i.i Mer.u- t J , and prices tin
sr.nm as la t q«i »md. r fhe market was very dull,
and < in t .ily, 30S0 bales were s .Id.
January ?0.
W )i<3 a. dull run k«t m-dm.. the snlesam.iunt
i.jg to 3 juO bile with p«i rather in favor oi
tin* t ... r. Tn.- .’de l • » .ip.i '*d 150 Maceo, at
ltd*. Mai ihlnm at 6,;d m tifd; 300 Surat, at
3d to 4}.!; mid the o a ii.id.: America.• uDd
to '><!.
Jmraa. v 31.
Th markrt n,- la ■■ ,
pruvciiemt. The sale ■ .mount only n< 3000 bales,
<>•’ v» hi *ii th ■ greater p<»*rimi wen- iun rican, at
p i -rs th • unne a*- ye -t- rdav. Th'- marker clns.-d
F.-l.ru try I.
Th 1 snlf« to-day amounted to 5000 bah s. but
in th-ton •nt th'- market ;li. re v..»« rm change. ,
Th. sales wen-compu M i: pii.i . . i Li. ri« an. I
and prices th- -ame as v< -"idav vu-ie in mlcasio. 1
r<?liz--d.
February 2.
Tin re was .atln r more activirv in o;:r niark. t I
m-day. the sales mnountjn-'. t.» 5000 bui. .*■ inclnd
ing 100 • Anieri ’.i i and 2.<0 Snrat for export.-
'fii. r; 1 was n » change in prices.
420 S.-a Island G.-or . j i. urd to mid fair, Sjd to
9-J. fai. to good fait Ii to 13, good to fair 17 to
21 ; 150 stain ’do ord to nil! fair 4 <■• SJ. i.ijr n>
good f:H.- 6 a <?.. gaud to fair 7 a 8’: 2 *5/0 Upbmd
do ord to mid fair 3‘ a 4’ lair to good Dir 3? a 5,
to mid fait
T: ;1 I‘, thir n, g fair 4, a sf, good t., Dir SA a
»i; 12939 New Orleans oid to mi l fair 3* a I', fug
t< : 1 I ■■ ■ ' ■ ■ ' ' ' ' 7.
imp/.t? ;:»ro Liverpool fro..’. January 16 to
F. t.rim v 3. 76,670: previously this year, i82.G83.
DOMFISTIC.
Sa\ a \an, Februat y 25.
CWD/t—Arrived since the 16th instant.’ll,3ol
bales Uplnnd and 516 bales Sen Island, and clear
ed in th« same time (il 1 hales Upland mid 10J
b ile-.S« n I*!mid ; leaving on hand, inclusive of
- on shiphoard not cleared on the 23d instant, a
rtork 35,1 bales Upland and 2529 bales Sea j
Island (zotton, against 17,071 hales Upland and <
1556 bales Sea Island, nt same period last year. i
The demand for p arcels embracing the qualities i
above middling, was tolerably activ • during the ’
week. Ou the lower grader btiy.-i mught fu:
ther concessions, which holdei. wr-n ugi djsp.e - <
ed io allow; thciefuiv, transactions h ordinary
.m-. •- iim..ir. ~, r .| f j v . t | |an « n H
pin tu ii m Hu* amm.m of y.,n . \y<- h-»\c -li rht
a’ . r .! ; ..‘. o,- p H -.,. ri | (■-ndiimn
«>! the i<n:». •
th- |,
“•■J :i! .: !'.’■... ._ ; fill ..I -. :
; ’ ll at ■' : “1., .r i nl . Hr| ... ,
Irells ’ »' >' ’ ' ' ; .'II ■ f,|(. ~ •
99.11 1’.'.1 ail'.’ : !'■■< a- ■' : ’ll ..t )
and t> at 7 ciyite.
QnotntiiLte Inferior 1 ; Ordin.. lrv 5„5. .
Viudlin: ii'fl: Middling Fair 6:> 6; ; i;jg
ii;:; Foil.’ Fffirfl; ; Good Fair 7 »7; ; I'rn’m.
non.-.
Kerri;. I* <>l cotton a- flic following plnr.-, sine,
tho Ist ’ nt.'ioh- r, I*'
184'1-i. 1941-2.
Leonia, F. Inrn.v23. IS4J-.201990 131833
South Caiolirv., r.:b. 17242340 149373
Mobile, Feb. 11257210 187010
N O. l< ans, Feb. 14.692863 490967
Florida, Feb. 4 73328 41129
North Carolina, Feb. 4 -5262 3349
Virgin! .1, Jan 195000 10018
1477979 1013379
The following is a statement of the stock of
cotton on hand nt the respective places named :
1, 1842-3. 1841-2.
Savannah, Feb 23, 184337708 18610
S Carolina, Feb. 1738887 29903
Mobile, Feb. 14101261 95651
New Orleans, Feb. 14187365 15.5914
Virginia, Jan. 19 2000 1250
N. < nroljna, Feb. 4150(1 WOO
Florida, Feb. 4.17250 19216
Augusta & Hamburg, Feb. 1. .28062 27134
Macon, Feb. 1.15055 14643
Philadelphia, Feb. 11,1757 2093
N. York, Feb. I 32000 1.5000
461845 380114
STATEMENT OF COTTON.
Uplhh.
Kto< k mi Land, Ist Hrpt., 1842.2di30
Rfcuived -ihiH week 11,301
Received pn vi0u51y186,572
„ 200,403
Exported ibis week6,lß4
Exported previouslyls9,o.39 1L‘>,223
Stock nn hand, iiie.hidinff all on shiphovd not
< b , tu »-d on the 23d instant3s,lßo
a.miP. /imp hi.-:/ yf ,r.
Upl’ds.
Stock on hand. Ist Sept., 1841944
Received ihi.« week. . . . .. . . 7 521
Received previouslyll9*79l
iav®6
Exported thin weekß,749
Exported previouslylo2,433 11 |,IR2
Stock on Land including all on shipboard not
cleared c.n Ibe 21ih Feb. 184317,074
A moderate supply of the upperqualiti. s,
and holders are firm nt current rates. Exportn
516 c.i.-ks. Stiles reported 442 casks, viz: 67 an
I.’, 102 at 1;, 198 nt I;, 25 at andso at $2 per
100 lbs.
<ir;>c rms—-The improved demand has induced
merchants lo enlarge their supplies, and the stock
now on sale embraces all the leading articles in
request at this season. A steady business w)th
planters, and fair sales t.» city dealers. Sales
< nba Coffee from store at 8A cts per lb.
-Sales 3500 bushel.- Beach Island (cash)
al 371 cents per bush.
/•'tour A fail supply and moderate demand. —
Sales reported, 200 bbls Baltimore at 4-J, and 20
bbls Canal, of choice quality, per bbl.
Salt -The transacti >ns of the week include the
cargoes <>f Br barks Severn, Susan and f'reole,
loos? al 20 cents per bushel, and 1000 sucks from
ship side, (cash) at per sack.
Kr<'huni r ,e — Sterling- Bales, bank rate, J 4; out
doors, 1 ‘ per c< nt prem. Donn Stic—New York,
bank rates, sight, f per cent prem; 5 days, | dis;
10 015 days A; 30 days fa 1; and 60 days a
G per cent dis.
—To Liverpool quite firm—lot.; of cot
ton, half square and half round can be shipped at
£d a 11 -16 d; for round alone. |d is asked- we are
not advised of any engagements at the latter
lute. Coastwise—New York, square 75 cents,
round 41, Rice per cask, 62 a 75; Boston, Cotton
-tc . qun.c. ’■ round bates, RFe If per cask; Phiha
delphirf, cotton round and square |c, Rice, nomi
nal Sl* p : cask.— Georgian.
Charlepton, Ftbrmry 25.
Co.'Zo/i —The operations inlpland since the
date of ora* review of the 18th instant, have been
comparatively light, pnrchaseis having laken but
521?baf*js At the close of the last, and in the
emly p.m of the prt sent week, the market was
languid, with u tendency to a reduction in prices,
bui there wasn » inarked decline in such parcels
as chan d handr; on Wednesday and Thuraday,
howt ver. purchasers had a decided advantage on
the low. .• e.ratios, while the better descriptions,
iu eon.L <,!>< ii.*.* of their scarcity, maintained the
raies of the previous week. Early yesterday
moruin_. nißDes reached us from the other side,
pi r the .Armii», m Boston, showing a decided df
clin. in I’plnnd in the Liverpool market; but what
ell. • i this inteliitfcncr will have upon dealers re
main* to be seen, as itis impossible to conjecture
whnr will be the ruling rates when the market
opens. About 170 bags changed hands yesterday
at a decline variously estimated from * to j of a
.-ent p. r Hi. Thr receipts of lhe week ate 9531
I The sales an* as follows:—82 at 4R 125 nt
5; 50 ii .5.',; 138 at s|; 118 at s’: 501 al 5.J: 2<B at
sr;5 r ; 923 at 57; 276 nt ss; 874 atfi; 606nt 6|: 171 at
I 1 <5 « ; 143 nI ( ’ 1; 53 n ! 6f; 373 al
7; 60 al 7J cents per lb. We haw erased qfiotn-
fTatemtnt or '
1843. 1842.
Stock on hand, S >p. I. 18423,659 3:507
R»*cciv< d since Feb. 179,531
do previously23o,B7 1
T./tnl rcreipis244,l»64 159,393
Exported ; ince I-' 6 17 11,478
do pre.viously 20 2,099
Total < xp0rty213,577 130,201
On chipboard not cleared7,7sl 11,882
I).duct from total rect i;.tp221,328 142,083
Remaining on hand, Feb 24 -22,736 17,310
A moderate, business has been done in
this article dining the week just cloned, and pri
ces have ffuctiiaied a little in the lower qualities
infavor of the purchaser, while holders have in
some instances obtained the advantage on the
betler qualities, but the market, on the whole,
closes at about lhe cur.ent rates of the previous
week. The rc*c< ip:s since our last tfre 4668 ties.,
and lhe sales 24 .0 tieices, at the following prices:
50 nt P; 262 at lj; 110 at I 11-16; 550 at If; 201 nt
1 13-IK; 350 at 1!161 nt 1 15-16; 73 at 2; 65 al 21-
16; 267 nt 2J; 166 al 2 3-16; and 185 ti.'iecs at 2 9-
16ths per 100.
Grain.- The reciipts of ('am havelreen but
POO bushels ('nrotina Hint, which brought 56} cts.
per bushel. About 2000 bushels Virginia (Jats
have been received, the bulk of which was of com
mon quality, and sold ai prices within the range
of our quotations, 29 a3O cents pec bushel. 214
bundles New York Jlay have been received, and
sold at 68j' < is. per 100 lbs.
Ptoiir. The receipts for the past fortnight have
been light; and the consequent decrease of the
stockon t’.e market, hasenablcd holders to sell on
better terms during the week; we, however, co -
tinue sot mer quotations for Baltimore, and the
commo i qualities of Virginia. A lot of Canal
brought per barrel.
Bacon.— The operations in Bacon the past week
have b *eu very limited.
fjard ‘'M-ytTftl small lots \V« stern, have chang
ed hand at 6} a 6*, we ipiotc exliT-mes6 a 7f cts.
per lb. -x
Salt. The rec t-iptp of the week uro 4100 sacks
Liverpool. The operations have been at price- 1
rangin ' from 51,25 to $1,30 per sack.
Sur.tm. There has been some inquiry for Su
macs finer (jur last, and some 374 hhds. Louisia
na, ss > arc informed were taken on speculation,
at pii:. >■ ranging front 4} to J;; and 100 hhds.
Port.) 8i..) an 1 *luscovados, changed hands nt
from 7it > 8 cts. p« r lb. The receipts of the week
havi i. ii 68 hhds. from ihc West Indies, and 181
hhdfj Lo* i -tann.
C’o/ ' . Out Coffee niarkct continues quirt, the
</p<-!'t’i nih having barn confined toabout 400 bags
Cuba nt prices ranging from 9 to 9f; several
small I-»ts Rio have also been sold at prices with
in quoted rates.
.rf.t'a r... -The sales ol thr week have been
<‘onfi.i .1 - , .>lriy to small lots .Vrw Orlenns, from
I isi h i'.r Lhi 255 bbls w hich has nit hern sold.
1.. . h|9th* • t
/?’. .<■ . fh.-vk--on \.s. \rak, I’hllnd.-l
pin i oil n/0 , B'M'on. ..nJ Richmond al par,
on Savannah and Augusta } per ct. dis.
Preizhh.. - VV<-> con iin up ro quote* to Liverpool
>1 for square bags. To Havre Ifcnlj per do.
Engagements have been ninde to New Yorl£ tn
th? early part of the week at 50 cts per square
bar, the current rate ye-urtday, however, was 75
cts per square bag, mid 75 cts per tierce for Rim.
A v. ‘■-sei nas been engaged to load sot Boston en
tirely with cotton, at H a 2, but other f ngage
iiipiii-' have brm e Iler ted at 12 for square bags,
and li per ii •rc<* for Rice. (.'mirier.
H/l’ i-'IN'.II IM ACADEMY.--Thc
H---J Trustri .*- oi the Kit'mghani Academy at
Spiim- li Id. G i , nnnounm to the public, that they
ha\. rjqi.w.-d 1.. wi-Hnijh'f, L. L. I), etc. as
Principal of- fid institution, under whose care
th=- A *.(d< in\ will br reorganized, and opened in
ih< month of l'< brtiaiv for the reception of stii
drnh’ of both .-rx<wh« r.', besides thr modern
1.1. .iu. ,■.. oh as th latan. French, Italian and
Spmii: h. i 11 the other branches of a plain Eng
lish aii.l liberal education will be taught, and
! voun/ ntrii prepared lor college. Parents wish
i i i > send their children to school in this hcnl
i lity village, ran obtain board on rarsohnble terras, ,
<ither with the,teachers or in privah families, by ,
applying to the Principal. The Doctor his pledg- j
ed hintS'.-il to procure suitable ansistaut>■ and to
place thr 1.-niab deparnnent under the care of a <
roinpetriit lady. Hr will publish a prospectus as ,
soo,i n - the Academy is opened, yivingparticulars }
more t ally. Dr Harper comes highly r« roinrra n
(l< -i by m<‘nof rntinenc? in the Tutted .States. at|d ,
refers, in addition, tn th? following gentlemen of r
lhe rjty of Sav innnh the R’ K< \ Dr Elliolt, Dr ,
RI) \rnold. Dr.l (•’ lialwraham.Al H McAllister, ;
R w Pooler mid I K Tefft. IDqs. ’ (
By order of the Board of Trustees.
feb 10 wlm G POWERS, Tr. t
3 EM( >VAL phe st|bi ■ riber w ould I
3 %- inform th- planters of Georgia and South \
Caroll:’?, that hi has removed to Crawfordville,
G t., where hr will permanently locate himself,
.(nd carry on the business of man ufocturing COT
TON CH XS. He is prepared to make Cotton
Gins on various plans, though he would recom- (
mend thr Anti-fiictijn Gin as Ding the best arti
cle of rhe kind hr has evrF?een in use, and, from s
his expriDnm in the business, he can say, with r
propriety, that he docs not think his Gins can be li
surpassed in th-* Southern States, and in fully au- .1
ihr-nticaiing what he says in relation to the mat- t
ter. hr would refer you to certificates of gentlemen a
vho have used them. All orders address dto the- d
sub -rib. r nt Crawfordvill \ Taliaferro county. J
Git., will receive prompt attention. iJ
jan 3 S. K. CRENSHAW. n
/ \ (i'l’ld ) X -l/i*f or ttii .l jjd, :otur-
tim< .j i .ipfoitii-. <i •. non niad* by J«_.hn
Ai.ty. :»;»d pa\ ?o th.- *ul.scriber or btmer,
and du • on* day m*< r tl.n<-, for twenty nine dnl
lais an ii* ijv five mitts, m>d d»il.-d \piil I'uh.
• -■ii. AH p. r- hi-a., hr.by < luliora d limn Hh
, din l ! f » i,» mn i ifj,’in iker m Ihh repn si n
f i r iv * ,*i.»L! p.i' ;n/ j, , |:IV p.-r.«>o>i hm mvst .'f.
I»r:\in hlott.
_ ;* '' ' ■ ■ ■ kn
< lion >7 • MOTEb,
AT-rnr »us- or 7MM ftot i.«:n uai r.,
.... Dahhmrga, Ga.
HIS <»|.| ;md v. < II known estah
liritnicin is continued under the iiianagc
■ mem ol the widow of th<- I.u. Vh. .| n | u , choici,
propn-joress, who, irom her long • xpetieuer
j m thin bmtnm-. fiallets htr.mlf. the mtJ-F-
I) /iv'‘ ol ,l ‘-"'“pctem bar l.c< p r, to be enabled to
tier h ‘'' ,a to all who may natronixe
l lIH heretofore, will be fur
j pains will Ilht 1lht llu ' country alforfla, and no
3 trnnei. nr V/' to render both regular and
mtefol lekl rd ''. rK J ' • S '"' teturna Im.
ers of this houT ed^'“ ei, ’ s ’** ,llc I'fl'ner custom
-1 uan.-e of i hit i>M ,d r ' !,, l l< ' , ' ,t ' , illy solicit a confln
this house under <^^ r g “? 1 l ‘ b,;ral , | y «»
Mances than that « i -h *'± e, * ul C, .7 U “'-
' ffi.rnrir-MU.-tll i * ll n ° W OVCTShadoWS It.
; —J£IL! 4 — maiu ANN CHOICE.
‘ ANb MONEY
’ sornewhere on 1 ire Public's^,'to
' Madison, or on the Eatonton road, between inv
‘ place rind town, a large calf-skin Pocket Book
’ about half worn, containing about sixteen hun
! dred and five or ten dollars in bank notes. Antone
the bank notes werefourSlOO and three *SO billed
' two of the former on the Slate Bank of Georgia’
1 the other two on some of the Carolina Banks.—
About half the money contained in the book was
j on Carolina Banks, the balance on different ape*
I de paying Banks of this State.
> The following were among the papers contain-
- edin the book: One note on R H Fretwell for
• *IOO, due on the 251 h December, 1841 —with a
, credit of ®9o—dated sometime in Januaty, 1840;
one on R O'Neal, for *220, dated sometime In
May, 1841; one on R J Butts sot S9OO, dated some- •
) time about the last of November or the first of
December, 1542; one on J C Moore for *l2 50,
: dated sometime in January or February, 184'2, dne
, the 25th December, 1843; one on Buddy Bohan
i non, or Alabama, for Bron, tiatefl about the 2bm
- September, 1842, due Ist October, 1843—this note
’ has expressed on its face, not to be paid in specie
, or its equivalent; one receipt given me by Stew
; ai t Floyd, in January or February, 1841, for a note
on (’ .1 Baldwin for *23oo—with some credits on
I it; one on A Hurt for *2o—with a credit of *l2;
on.-, hill of exchange for *I6OO, drawn on the
; Phomix Bank of New York by the Bank of Mo
r, bile and dated in Jung, 1834—it was the second
r bill, the first being paid. All the above notes
were made payable to myself. It also contained
I one note on R W O'Neal for*22, made payable to
{ Martin & Evans, the data of which is not tecol
-1 ot-nn' : . on< ', on w Hliam V inlandinghnm for
, *SOO. due the 25th December, 1839, made pavab
s 1— -A" 1 ” , ,10, e on H P Turner ibr
■ ... >O, payable to William B Wilcv, together with
. sinidry accounts, receipts, &e. My name is mark
ed lu lull with type on lire pocket book. All per-
sons are forwarned against trading for the above
desetihi’d notes, and the makers from paving them
to any person but myself.
e 14 JAMES O’NEAL.
IMPOKTANT MEDK 1 ■ ;
' iVj AKSHALL’S SARSAPARILLA
t J is with fonfidence offered to the Medical
( Faculty and lhe public, as possessing in a great
. degree al! the virtues of Sarsaparilla tn its moat
I concentrated form, being prepared by a new and
improved process over nil others, which extracts
all the active matter of the root. This syrup ia
t highly recommended as a Full and Spring purifier
. ofthe blood, and will be found particularly useful
r in the cure of Rheumatism, Ulcers, Scrofula, Tet
t ter, White Swelling, Cutaneous Eruptions, and
, all disorders arising from an impure state of the
blood, t he abuse of mercury, &e. Physicians who
. prescribe Marshall's Sarsaparilla, will soon dis
cover such ittcontestible evidence of its curative
powers, ns shall fully establish its character mid
superiority over oil others now in use. Otte eight
ounce bottle contains more ofthe active principle
ol S'.traipet i/Zo, than a gallon of those mixtures
~ usually sold in the stores, and those who have
be.n disappointed in the use of Sarsaparilla, trill
find th >■ an effectual remedy.
" MARSH ALL'S VERMIFVGE—I* reemn-
’ mended to nurses, parents and others, who have
the ear., of children, ns the most stun and effectual
• irorm-destroyinp medicine yet discovered. Besides
being a safe and ochre vermifuge, il is so pleasant
’ that no child wIH refuse to take il. It is equally
efficacious in removing other disorders, such as
tiuirel complaints, roniilmg, and all complains to
’ whi' h children are liable.'
J HE YL'S EMBROCATION, for Horses.-
This valuable Embrocation haw been iumhl with
great success in the cure ofthe most troublesome
diseases with which the horse is affected, such as
( old strains, swellings, galls, strains of the shauld
‘ ers, dec. It soon cures old or fresh wounds, ruts,
t bruis.-H, (Yr. It is highly recommended, and
should be constantly kept in theatahles of nil pcr
sons owning horses.
Jjlold nt VV. M ARSHALL’.S, (successor to Chas.
Marshall,) No. 312 Market street above Ninth,
Philadelphia. also,
.. a
“ of Marsapaiilla, Cnbi l»s
and Copuiva,
“ Extract of Btichn,
*' Pind Root, <fcc. dee.
Foruulebv J. E. MARSHALL,
nov 29-w6m Successor to Thos. I. Winy.
TO THE CITIZENS Ob’ THE SOUTH.
rpHE GENUINE HRANDRETH
J. PILLS have, in all cases in wliich they
have been used, fully sustained their high char
acter. In lhe East and West Indies, in Russia,
Turkey and China, the Brandretn Pi/ls arc ex
tensively patronized. The same may be said of
Mexico and throughout South America. I have
recently received one order for eighty thousand
boxes, irom the Gori mor of a Colony of Portii"
tral in Itic J'Ju.it indus. He had used the Bran
drt th Pilis in .Madeira, by the advice ofthe very
Reverend, the Canon, Thomas Tolentino de Sil
va, my agent at Funchal, and found them so ex
cellent as an anti bilious physic and purifier of
the blood, that he became, after much expeiDnue
of tiii ir beneficial properties, one of tlu ir beat and
strongest advocates, and hnsnowintrodnetd them
into the Colony of which he is the appointed Go
vernor by the Government of Portugal. Thu«
the Brand re th Pills <• .-.tinue to have the sphere
of th ir usefulness ext. nded.
in the Eastern States of North America, and
in Great Britain, no medicine was ever in such
universal use as the Brandreth Pills. High and
influential individuals often purchase them to ad
minister to the poor. In every place where they
have been introduced, and where no rile imitation
of them has been sold, their reputation has con
stantly increased, and the circle of their useful
ness enlarged. They are conceded to be the besi
purgativ?, the beet anti-bilious and the most cer
tain purifier of the blood known. The cutes tlwy
have perlormed in chronic di-tcascs, when hope
had fled, is beyond belief.
As a general family medicine, especially in th*
South, their value is incalculable. By ha ving th«-
Brandreth Pills always on hand, should a sud
den attack of sickness take place, they can be gi
ven at. once, and will often have effected n cure
befon* the physician could have arrived. In Cha
lie and i.iflaination of the bowels, these Pills will
at once relieve, and perseverance in their use,
according to the directions, will surely do all that
medicine can do to restore the health of the pa
tient. In diseases arising front the use of mer
cury, or fioiii any cause of vitiation, from bad
blood or others isu, the h use will produce the most
happy ieHii|t ,: . In nil attacks of Rheumatism, in
Hryniphihiß, Salt Itheum, and in cases of cArano*
or recent ('adirenenn, the use of the Buandrkth
Pill* ill be productive of infinite service; some
times being productive of so. great a change for
the better, as to occasion great thankfulness. In
all cases of icornin, adhma, dwanct of
the htart, and in all affections of the etmnarh and
boweh, the Bran orcth Pills will be found a ne
ver-failing remedy.
To insure the full benefit of these celebrated
Pilis, tlu \ should be kept in the house, so that
upon i:u first I'oii'ijiii'ii'Tini'iil of dwy
uta\ beat onrp n*.-ortc<l to; one dose then D btt
-1.1 th hi a tl-i/.r ii after the disease has becon»<* r>-
tafilishi d i.i the system.
Th ;i Pills (ire purely vegetable,
and so innocent that the infant a month old may
use them if medicine js required, not only with
safety, hut wjth the certainty of receiving ail th<-
benefit medicine is capable of imparting. Fe
males may use them duringall the critical periods
of their lives;—the Bhandreth Pills will insure
th» ir health, and produce regularity in nil the func
tions of life.
Be careful of counterfeit Pitta. I/me to aroitl them.
A’o. 1 »Skcv«itv.
Each Agent who fells the genuine Brandreth
Pills, has a Certificate of Agency, which has
been engraved at a vast expense. It represents
the manufactory at Sing Sing, on the banks of
the Hudson Riv< r. and is digued hy Di. Brandreth,
and hjs seal stamped upon the paper.
No. 2-- S’Ecvnirv.
Above all, observe the labels Upon the boxes:
Each box of the genuine Bralidreth’s Pills has
now three labels upon it. The top and lhe bot
tom Hbel containing upwards of five thousand
kttrts in red ink; the words Benjamin Bran
ds ath’s Pills beinif printed otter tim hundred
times upon lhe tico labels.
No. 3—Sei.critv.
There an also upon each label two signotares
of Dr. Brandreth- one “B. Brnndeth, and aLo
one “Benjamin Brandn th.” Each box, there
fore, to be genuine, must have six sign ari re* <,f
Dr. Brandreth upon it. If the box do not an
swer this discriplion, the Pills nrr not the Bran
dreth Pills, but some vile counterfeit of them, as
al! th • olp labelled boxes linve been collec i ex<'
Besides th- above signs of genuineness' fac
similes ofthe Bhanurei u Pili, laii'bi.s are utrnti
the C’Eimuc ATH or Agency; therefore compare
your box with tip* |abe|s or, thA certificate; if it
Sgrees the Pills arc true.' if it does n<>t. thevar'r
false.
1 have expended much time, and at least five
thousand dollars, in perfecting these checks V>
the sale of counterfeit Pill*, aud in the hope they
will secure the genuine Brandreth Ph’it » »tj:
who "wont them ‘ ■ I!
I remain tfie public’s servant,
B. BRANDRETH, M. ID,
241 Broadway, N. V
by th< following authorized agents iu
Georgia:
CHARLES E GRENVILLE A CO, Book
sellers, Augusta; Chapman A Thrcewit, War
renton; Sanford A- Lumsden, Eatonton; Wil
lard A. Williams, Dis-atur; W Maxey, Monticello;
Joseph B Gondor, Sparta; A B Phelps, Powel
ton; Hill & Pratt, Lexington; Usher & Ander
son. Covington; J A Clarke, Jr, Monroe; Tucker
&. (.’ompton. Jackson: Dunn A Martin, Forsyth;
John 31 Cox, McDonough; T dt J Cunningham
& < ’o, (ireeiLsborough; Seaman Goodall, Savan
nah; 8 D Clark XCu Hamburg. feb 10 ly j