Newspaper Page Text
TII E TIME S .
The union of.hesta.es states
COLUMBUS, JULY 15, IS4L
Mr. Alford lias addressed a letter to the
editors of the Columbus Enqu rer, in which
J,e states that lie is in favor of a “fair Ban 1 *
charter,” and “not a foul one”—that he con
siders the question of the right of Congress ,
to incorporate a Bank as “adjudicated and
acted upon, and beneficially too”—and that he
is “in favor of Mr. Tyler’s plan.”
Alabama Decisions.—As we lave some
subscribers in the adjoining part of Alabama, j
for their benefit and that of the Legal Proses- j
sion on this side of the river who practice in
the Alabama Courts, we have copied regu
larly from the Tuscaloosa Monitor, from the
commencement of its present I erm, and shall
continue to do so until its close, the decisions
of the Supreme Court of that State, settling
icstions of la w. •
The. Georgia Jeffersonian, heretofore
and until the present moment published at
West Point, Troup county, Georgia, is about,
to he removed to Griffin, Pike county, Geor
gia, (the northern terminus of the Monroe
llail Itoad,) at which place it will hereafter be
published. Dr. James E. Scott by whom,
we believe, the Jeffersonian was established,
and who has, through its columns, rendered
able and effective service to the Democratic
cause, dissolves his connection with it—and
Mr. William Cline, who has been connected
with the Editorial Department of the Jeffer
sonian, takes the place of Dr. Scott. Mr.
C: ne has been connected with the Press for
a long series of years, and, with his experi
ence, the Jeffersonian must continue to be
an interesting and valuable Journal.
We know hut little, indeed nothing, of the
present situation or future prospects of Grif
fin —but yet it strikes us that West Point is its
superior now, and will be its equal in all fu
ture time —and we can only explain the cause
of the removal of the Jeffersonian by sup
posing that our Brother Cline, attracted by
the excitement of a Rail Road, and having
exhausted his patience, in waiting for one at
West Point, took an easternly direction in pur
suit of, and at Griffin encountered, the object
of his wishes.
PROSPECT OF THE COTTON CROP.
Some month or six weeks since, the com
plaint was general throughout this part of the
country, that the cotton plant promised unfa
vorably, and on numerous plantations, an en
tire failure was apprehended. This seemed
to be the case in Alabama and Mississippi, as
the papers generally in those States contained
gloomy accounts, and expressed fearful appre
hensions of the prospects of the planter. For
the last three or four weeks, and until very
recently, we have seen or bear’d but little on
the subject. Complaints are again becoming
general of the ravages of fthe worm, and plan
ters in this section have relinquished all ideai
we believe, of making any thing more than a
partial crop- In some of the counties below
this, the worm is making sad havoc, so much
so, that cotton fields have been ploughed up,
and corn substituted.
As some compensation for the failure of the
cotton production, the corn crops in every di
rection are represented as exceedingly flour
ishing and as promising a most abundant har
vest.
Court House of Russell County, Al
abama. —By a:i act of the last Legislature of
Alabama, the people of Russell County were
empowered to select, by vote, the permanent
site for the county buildings. As we under
stand the terms of the law (never having seen
it,) it designated three places to be voted for,
viz. Girard, opposite this city; Crockettsville,
12 miles west of Columbus, on the mail route
to Montgomery ; and the centre of the county,
some four or five miles south of Crocketts
ville. On the first ballot, if neither of the
throe places obtained a majority of the whole
number of votes given in, another ballot was
to be had between the two places receiving
the highest vote at the first trial. These, we
believe, are the provisions of the law, and the
first Monday in this month was designated as
the period of the first trial. Agreeably to this
arrangement the polls were opened on the first
Monday, and the result was, we learn, that
Crockettsville was selected by a majority of
some forty votes of the whole number cast, so
that this vexed question, so far as Russell j
county is concerned, is at last settled, and
Crockettsville becomes the permanent seat of
justice of that county.
Communications, &c.—The communica
tion to be found in another part of to-day’s pa
per was received by mail, two or three weeks
since, with the request to publish it, or to re
turn the manuscript to the author. Some
circumstance, not now recollected, prevented
its insertion in our first number after its re
ceipt, and a second, and perhaps third number
went forth, without ushering to the world this
extraordinary production—extraordinary we
characterize it, because in the estimation of
its author it must certainly be so considered,
from the fact that its non-appearance at an
earlier moment, has caused him to transmit to
us one of the most fiery and belligerent notes
that we recollect to have seen in many a day.
lie says we “ will meet the vengence (ven
geance) of one to (too) proud to submit to
such uncourteous treatment,” and that our
“kindness will be remembered, and not easily
forgotten.” It would seem to follow as a
natural conclusion that, if we are to be re
membered, we shall not be forgotten.
In a word, however, we had no intention to
overlook this favorite bantling of our young
author, and of this fact he had an assurance in
the retention of his manuscript. The omission
to insert his communication for one, two or
even three weeks did not necessarily imply
neglect of him or of his production, but .may
have arisen, as in this case it did arise, from
circumstances totally foreign from any such
design. His vanity, however, is now gratified,
as we have inserted his production in this
paper in all its length and breadth ; and we
feel quite suie that its exhibition in print will
r.fiord him such unmeasured delight as tocause
a suppression of his vengeance, and a restora
tion of his kindlier feeliDgs.
MERIWETHER Warm SPRINGS.
We learn by individuals direct from the
Warm Springs that the visitors are numerous,
and that the establishment is in excellent or
der, and elegantly kept —and that general sat-
isfaction is given under its present manage
ment. Wc expected no less from the liberal
and enterprising spirit of the new proprietor,
and we are glad to learn that he is likely to be
reimbursed, to some extent, for the heavy ex
penditures made by him in putting the place
in proper order for the reception of company,
; and in adorning and rendering attractive the
! grounds adjoining. In addition to the tran
sient visitors at the springs, we are informed
that a large number of families from this and
other places are occupying lots laid off by Col.
Bonner, very near to the main building, and
fronting the avenue leading to the spring,
which have been sold, and substantial and ex
cellent improvements erected upon them.—
This arrangement secures, of course, an at
tractive and agreeable society dunrigthe whole
season. The proprietor, besides furnishing
his table with every delicacy which the coun- j
try around him affords, receives regular sup
plies of ice from this city, which of itself is an |
inducement to visit the Warm Springs in
these piping hot times. We remember the
spot, in 1836, as one of the most beautiful and
romantic in this part of the country, and we
are told by those who saw it then, and have
seen it recently, that, in appearance, it is a
new place so great have been the alterations
| and improvements, and the taste displayed in
making them.
A stage runs regularly from this city to the
Springs, three times in the week—leaving Co
lumbus on Mondays, Wednesdays, and Fridays,
in the morning, and reaching the springs about
j four of the same day—on the return, it leaves
the springs Tuesdays, Thursdays and Satur
days, and reaches Columbus m the afternoon
of the same days.
The Georgia Jeffersonian remarks that
the Editor of the Columbus Times says, ‘that
the indebtedness of the President and Direc
tors, (of the C. R. R. &, B. Cos.) all combined,
is a mere trifle—a drop in the bucket —an
amount which can be extinguished in 24
hours.” He £ays he is warranted in so say
ing, from statements which bear the marks
of authenticity, and we have no doubt ho be
lieves so. But alas! we have so often received
statements in relation to the Columbus Banks,
both from editors and officers, bearing the
marks of authenticity, and have been so often
disappointed, that we are now extremely slow
of belief.”
We made the statement attributed to us
by the Jeffersonian, and we repeat the decla
ration. The President and Directors owe the
Bank nothing beyond their ability to pay at
almost any moment—indeed their liabilities
all combined are not more than $20,000. If
this statement be incorrect, we are misled by
one of the Directors—and by one of the
Committee of Stockholders whose name is
attached to the statement published in this
paper.
The Jeffersonian remarks farther, “ if the
officers do pay up what they owe, and if they
have not lent to those from whom they never ex~
pect to get any thing back again, the loss to the
bill holders cannot be ten cents in the dollar,
jf any thing.” Pei haps,* however, they have
imprudently (culpably if you please,) lent to
those from whom (whatever they may expect)
it is very certain they never will “ get any
thing back again.” Perhaps, also, individuals
using the funds of the Bank to buy cotton,
and promising to give bills on New York
when the Cotton was shipped, thus to supply
the Bank with Exchange, and efiable it the
better to sustain itself, have not, in this par
ticular, redeemed their pledges, but, appre
hensive of loss to themselves, have returned
the Cotton thus purchased to the Bank, with
the declaration Ho receive the cotton or nothing .’
We say all this, perhaps, has been done, thus
subjecting the Bank to heavy losses—indeed,
rumor says that these things have been done,
and that, in one instance, if no more, both
money and cotton have been withheld. Far
ther also, it is said that Bills of Lading, signed
by a Steamboat matter, purporting to have re
ceived on board cotton, have been presented to
the Bank, and the money paid for the cotton
thus purporting to have been shipped, and
subsequent investigation had proved that no
cotton had been either shipped or bought. If
these things are true, why is the publication of
them suppressed, thus entailing upon the Di
rectors an undue share of censure for the
present condition of the Bank, screening
individuals who ought to be known, from the
just condemnation of the community, and
from the punishment due for such base and
unprincipled transactions 1
If these things have transpired, and they
are currently reported in the streets, things
which might, perhaps, happen to any Bank*
why are they not disclosed that the innocent
may not be confounded with the guilty—that
other Institutions may be on their guard a
gainst men who have so basely swindled this,
and that the law may be permitted to seize its
proper and appropriate victims ]
in stating, therefore, that the liabilities of
the President and Directors of the C. R. R. &
B. C. were not such as to embarrass the Bank,
or rather to cause injury to its creditors, we
were not aiming at “plausible statements” as
the Jeffersonian alleges ; but to communicate
the truth, the actual facts, so far as we could
ascertain them. We believed that the best
way to serve the community was to give them
facts and not conjectures, and thus enable it
to form its own opinion. The Bank is pros
trated, and its ruin has been, in part, produced
by some of the ciroumstances to which we
have alluded—and we must, in conclusion,
express our surprise that acts of gross impro
priety, and, in some instances, of deep crimi
nality, are permitted by the Directors to re
main unexposed and unpunished, aud that the
odium arising from the present condition of
the Bank, is suffered to attach wholly to them
selves.
CONGRESS.
The Washington Correspondence of the
Charleston Courier, in another part of this
paper, will show tlie progress of affairs in Con
gress. Mr. Rives’ amendment requiring the
assent of the States to the establishment of
Branches has been rejected in the Senate by
a decisive vote. It is, therefore, reduced al
most to a certainty that there will be no Bank
or Fiscal Agent this Session, as the opinions
of Mr. Tyler are adverse, we learn from those
who have the means of judging pretty accu
rately, to any plan which does not embrace
the Amendment of Mr. Rives. Strange to
say, Mr. Tyler thinks the constitutional ob
jections against a Bank, which he has himself
ja times past, entertained as strongly as any
man, will be obviated by the adoption of the
tlan of Mr. Rives; as if the assent of one, or
of all of the States can render that constitution
al which the instrument itself prohibits—unless
indeed it be incorporated into the Constitution,
and made a part of it, in the manner provided
by lave. This proposition is very much in (
character with a declaration made by the late
President Hirrison, in 1836, in a letter io
Mr. Sloo of New Orleans, respecting the
right of Congress to interfere with slavery in
the District of Columbia, a declaration which
seemed to receive general favor, and to be en
tirely satisfactory to his southern supporters-
The declaration was this, that it was uncon
stitutional for Congress to abolish slavery in
the District of Columbia, without the assent of
the Slates of Virginia and Maryland. Now,
as iu the case of the Fiscal Agent or Bank, if
[ it were unconstitutional to meddle with sla
i very in that District, what action of the two
| adjoining Slates could alter this feature in the
Constitution, except in the form prescribed for
amendments. Besides, was no: the cession
by these two States, of the ten miles square, an
unrestricted and unconditional one, having no
imit as to time, and has Virginia or Maryland
any more right to interpret the Constitution
in itsjipplication to the District of Columbia,
than Georgia and Louisiana. Again, Geor
gia and Louisiana sa v, that if the subject of
slavery in the District ofColumbia be touched,
it jeopards their rights and security, and can
Virginia and Maryland interpret the Consti
tution for Georgia and Louisiana, and in such
manner, too, as will result in their overthrow
and ruin ? This shows the absurdity oflook.
;ng for any interpretation ofjhe instrument,
elsewhere than in the instrument itself, by the
public functionaries to whose keeping and
protection the Constitution is, for the time
being, - confided. If, therefore, the plan of
Mr. Ewing, the Administration plan, adopted
and carried out by the amendment of Mr-
Rives, h authorized by the terms of the Con
stitution, equally so is the full and open pro
ject of Mr. Clay.
In the House of Representatives the Dis
tribution bill is passed. The Delegation from
this State opposed it on the ground chiefly, we
believe, lhat the loss of the revenue, at this
moment, derivable from the sales of the Public
Lands, must necessarily lead to an increase of
the tariff. And yet the Whig party is reli
giously bound to adhere to the compromise,
so their presses tell ua.
CHATTAHOOCHEE RAIL R. AND BANK
ING COMPANY.
Agreeably to notice previously given, the
Stockholders of this Institution, or a portion
ot. them, assembled at the Banking House in
this City, on the 10th inst., and the result cf
their meeting is the following statement:
We, the undersigned, having been appoint
ed by a portion of the Stockholders of the
Chattahoochee Rail Road and Banking Com
pany of Georgia, assembled at the Banking
House, on Saturday, the 10th July, 1841, a
committee to investigate the condition of said
Institution, beg leave to make the following
report, viz:
Bills in circulation, 199,960 00
Bonds, 10,000 00
Due to individuals, 59,243 24
“ •“ Depositors, 5,460 00
“ for cott< >n shipped, and expenses
on
$276,495 24
To pay which they find the following assets,
viz:
Notes discounted, 141,482 51
Over draws, 28,739 49
Cash, 118 58
Banking House and
Lot, 17,000 00
Due by Agents, 440 25
Cotton Account, 90,341 60—278,122 43
Leaving a balance of $1,627 19
in favor of the Institution.
Os the notes and over diaws, they set down
as bad $3,838 44, and as doubtful $22,120 44;
and from the present state of the cotton mar
ket, they apprehend a large loss will be sus
tained in the cotton which this institution cort
trols. All of which is respectfully submit
ted.
JOHN BETHUNE,
JOHN DILL,
L. B. MOODY,
WM. P. YONGE,
Columbus, Ga. July 12, 1841.
Note.- —There are claims for salaries and,
! other expenses amounting to $9,790 95 not
yet passed on by the Directors.
llow far ithe above exhibit will he deemed
satisfactory by the Public, or whether the
Public will be able to understand it at all, is a
matter we cannot determine. One or two
items in this report are worthy of notice, and
may not be readily understood by the commu
nity. In the first place, the Bank, it appears,
is indebted to individuals in the large sum of
$59,243 24 This is an item which we do
not recollect to have seen heretofore in any
Bank statement, and we think it will be as
unintelligible to the community as it is to us.
In the second place, it appears that the over
draws amount to the sum of $28,739 49. —
The committee remark, that “of the notes and
overdraws they set down as bad, $3,838,44,
and as doubtful $22,120,44.” How can the
overdraws he bad or doubtful if the officers of
the Bank have given bond for the faithful ex
ecution of the duties of their offices ? We
understand overdraws to be where the Cash
ier or Teller pays checks when the drawer or
drawers of them have no money to his or their
credit; and if we are correct in this, is not the
officer who thus pays money responsible for
the sum advanced ; and if proper and suffi
cient bonds have been given, can these over
draws, or any portion of them, by any possi
bility, be either “bad or doubtful 1”
Again, another bad feature in the above
statement is, that the sum due on discounted
notes has swelled, since the April Report, from
seventy odd thousand dollars to $141,482,51.
This, of itself, is a clear indication of very
defective management—for, in the crippled
condition of this Bank, and the general pecu
niary derangement existing, instead of exten
ding, it ought to have been curtailing its issues,
especially on paper of that description.
We are apprehensive, too, that the estimate
of the committee, of bad and doubtful debts,
is quite too favorable and will r.ot be borne
out by results.
In glancing again over the statement, we
perceive that the Capital Stock has disappear
ed. Did not the April Report of this institu.
tion show a large amount paid in, or secured i
by mortgages on real estate—and what has !
become of this amount ?
On the whole, our worst fears are realized, 1
that the Bank aud its affairs are in a wretched I
condition ; and that the creditors of the Insti-1
tutiou cannot reasonably expect any improve- •
ment above the current value of the notes—
forty and forty-five cents on the dollar.
This appears to us to he a candid and im
partial representation of the affairs of the
i Chattahoochee R. R. and Banking Company,
and of the prospects of its creditors.
. Toenable our readers to see all that is said
respecting the affairs of this Institution, we
I transfer to our columns the remarks of the
other journals of this city —the Georgia Argus
1 and Columbus Enquirer of yesterday, simply
observing that the comments of the latter are
as indecisive and unintelligible as the Bank
exhibit itself—equally balancing between its
hopes and its fears— up one side and doirn the
other.
MR. CLAY AND A NATIONAL BANK.
We find in tire Richmond Enquirer of the 29
| of June, the following extracts from the speech
| of Mr. Clay in 1811, against a National Bank.
We ask our readers to peruse them, and then
say whether the declarations of Mr. Clay on
the subject of precedents, as applied to the
interpretation of the Constitution of the Uni
ted States, a written instrument, are not con
clusive and irrefutable. In the emphatic lan
guage of Mr. Clay himself—“once substitute
practice for principle—the exposition of the
Constitution for the text of the Constitiition,
and in vain\shaU we look for the instrument in
the instrument itself.” Examine however the
extracts themselves, and show, if-you can,
where, in the whole range of the English lan
guage, reasoning stronger or more conclusive
is to be found.
Besides, the evidences are daily multiplying
of the doubts which have been entertained,
from the formation of the Government, of the
constitutionality of a Bank of the U. States,
by eminent men of both political parties, ma
ny of whom were intimate with the proceed
ings of the Convention which framed the Con
stitution, and perfectly acquainted with the
view's of the distinguished men contemporary
with that Convention. We published last
week a communication taken from the Nation
al Intelligencer, and addressed to the editors
of that paper, which states that the first Bank
Bill was signed by General Washington with
great reluctance ; and that, owing to his delay
in returning the Bill to Congress within a
reasonable period, with his veto or approval,
fears were entertained by its friends respect
ing its success, and at the moment it was
thought the„thne had expired within which
if it were not returned by the Execu
tive it became a law, great gratification was
expressed by the advocates of the Bill that it
had become a law without the agency of the
Executive. Farther, our paper of to-day
contains an article signed by Governor Wilson
of South Carolina, (who married a ward of
Col. Burr, and was intimate with that individ
ual,) wherein hp details the particulars of a
conversation with Col. Burr, respecting the
establishment of the first National Bank, and
the constitutional scruples of Gen. Washing
ton on the subject. Gen. Washington admit
ted, it appears from the statement of Col. Burr
to Gov. Wilson, that the Convention which
framed the Constitution had expressly refused
to give power to Congress to incorporate a
Bank.
With these evidences, and others equally
imposing and authoritative, against the power
of Congress to charter a Bank, with the opinions
of Messrs. Jefferson, Madison and Monroe*
(three individuals as well or better acquainted
with the views and designs of the framers of
the Constitution, and the particular powers
and rights intended to be given in that instru
ment, than any men in the Nation,) against
the constitutionality of the measure, we are
told by Mr. Clay and others that it is a settled
question not now open to argument or discus
sion, but finally and conclusively established
by “precedent.” In reply to this reasoning,
we have only to refer again to the subjoined
extracts from the speech of Mr. Clay against
a Bank charter, delivered in 1811—which, we
think, settles the question of precedent as
applicable to the Constitution of the U. States
—an instrument which those who administer
it are sworn to support —not according to pre
cedent as indicated by their predecessors, or
the opinions of tire Judiciary—but agreeably
to their honest and unbiassed understanding
of the instrument itself.
“What is the nature of this Government?
It is emphatically Federal, vested with an ag
gregate of specified powers tor general pur
poses, conceded by existing sovereignties,
who have themselves retained what is not so
conceded. It issaid there a;e cases in which
it must act on implied powers. This is not
controverted, but the implication must lie ne
cessary, and obviously limv from the enumer
ated power with which it is allied. The pow
er to charter companies is not specified m the
grant, and I contend ts ol a nature not ticins
ferabie by mere implication, it is one of the
most exalted attributes ol sovereignty. In ttie
exercise of this gigantic power we have seen
an East India Company created, which has
.carried dismay, desolation and death, through
out one of ttie largest portions of the liahitu
hie world, a company which is in itself a sov
ereignly —which has subverted empires-and
set up new dynasties—and has not only made
war, but war against its legitimate sovereign!
Under the influence of tins power, we have
seen a South Sea Company and a Mississippi
Company, lhat distracted and convulsed all
Europe, and menaced a total overthrow of all
credit and confidence, and universal bank
ruptcy. Is it to he imagined that power so
vast would have been left by the wisdom of
the Constitution to doubtful inference?”
“When gentlemen attempt to carry this
measure upon the ground of acquiescence or
precedent, do they tbrgel that we are not in
Westminster Hall? In courts of justice, the
utility of uniform decisions exacts of the judge
a conformity to the adjudication of his prede
cessor. In the interpretation and administra
tion of the law, this practice is wise and prop
er, and, without it, every thing depending up
on the caprice of the judge, we should have
no security tor our dearest rights. It is far
otherwise, when applied to the source of leg
islation. Here no rule exists but the Consti
tution, and to legislate upon the ground, mere
ly that our predecessors thought themselves
to be authorized, under similar circumstances
to legislate, is to sanctify error and perpetrate
usurpation. * * * * *
“ This doctrine of precedents, applied to the
Legislature, appears to me to be fraught with
the most mischievous consequences. The
great advantage of our system of government
over ail others, j S) that we have a written
Constitution defining its limits, and prescrib
ing its authorities; and that, however, fora
time, faction may convulse the nation, and
passion and party prejudice sway its function
aries, the season of reflection will recur, when
calmly retracing their deeds, all aberrations
from lundamental principle will be corrected.
But once substitute practice for principle—the
exposition of the Constitution for the text of
the Constitution, and in vain shall we look for
the instrument in the instrument itself! Iu
wil'i be as diffused and intangible as'the pre- 1
tended Constitution of England—and must i
be sought for in the statute book, in the funi- 1
tive journals of Congress, and in reports of 1
the Secretary of the Treasury! I conceive,
then, Sir, that we are not empowered by the
Constitution, nor bound by any practice un
der it, to renew the charter of tins Bank.”
From the Globe, July 5.
SENATE.
Mr. Pierce concluded his remarks on the
call for information as to the removals and ap
pointments. Mis speech, which we will soon
submit to the public, will be found full of facts
and most impressive reasoning.
The National Bank came up as the special
order. Mr. Merrick, as we understood at the
adjournment, was entitled to the floor to-day
to resume the debate on Mr. Rivess amend
ment, making the assent of the States neces
sary to the introduction of branches within
their borders. But by some arrangement, we
suppose, among the friends of this amendment,
Mr Choate, the member from Boston, rose
and entered upon an anxious and pre=sing
appeal to the Administration side of the cham
ber to unite in the adoption of tins plan of a
Bank, as the only possible mode of accomplish
ing the principal object for which the extra
session was convened. Mr. Clay of Ken
tucky entered the chamber slwrtly after Mr.
Choate had began what was afterwards called
his “ imploratiun ,” and if we did not egreg
iously misinterpret the expression of his face,
which was certainly marked with very legible
lines of strong emotion, he was prepared as
little for “the entertainment to which we were
invited,” as he relished it when he came. He
shook his head in a sort of silent soliloquy
in his seat; fixed his mouth in strong com
pression; and nodding to and fro in dumb show,
and folding his hands within each other, he
threw himself back in his chair, and extended
his limbs in another, at full length, as if to
consult his pillow for a final determination.
At last he rose and went from friend to friend
in the progress of Mr. Choate’s speech, and
was evidently encountered by earnest expos
tulation. He seemed tranquillized by degrees,
and we supposed had come to the resolution
that he would sit quiet, and bear it with
becoming resignation to the end. But lie
was suddenly pinched in a place that brought
him to his feet.
Mr. Choate, among other inducements to
draw the Whigs to the support of Mr. Rivess
amendment, said; “/ have no doubt—indeed, 1
will say to my friends that I blow—if they ad
here to this Bank bill without the amendment
now proposed, they will have no Bank this ses
sion .”
Mr. Clay of Kentucky could stand it no
longer; but bridling his passion to a .show of
courtesy, asked, “Will the Senator from
Massachusetts allow me to interrupt him a
moment! It is but one word, sir—to ask him
a plain question. He says, positively, that we
are to have no Bank this session, unless the
amendment is adopted—that he knows it..
Now I have every respect for the arguments
and opinions of ihe Senator from Massachu
setts; but when he goes beyond an expression
of opiuion, and positively asserts that he
knows there will be no Bank bill this session
an inference is left to be drawn, which compels
me to rise and call on him to give the grounds
oil which he makes this broad assertion.
Mr. Choate replied, Surely the Senator
from Kentucky will allow me, without inter
ruption, the rightof expressing manfully my
firm conviction without being obliged to give
reasons which I cannot give without a breach
of privilege, violating a parliamentary rule,
which Ido not feel disposed to violate. 1 tell
the Senator again there will be no Bank this
session unless this amendment prevails.
[Here Mr. C. was allowed to proceed with
out interruption.]
Mr. Simmons spoke next. After he had
concluded,
Mr. Archer spoke for some time. When
alluding to the influence brought lo bear from
the President’s opinions, and Mr. Clay’s at
tempt to draw out a direct admission that the
President’s resolution in regard to the motion
pending, was referred to by Mr. Choate. —
Mr. Clay asked the Senator from Virginia
to allow him to explain what he did say. He
had interrupted the Senator from Massachu
setts, to ascertain upon what ground the as
sertion was made, positively made, that there
could be no Bank but the thing tendered by
the gentleman from Virginia. It did not fol
low that the fact stated, depended on the de
termination of the Executive. It might be
that the gentleman had polled one or the oth
er of the legislative branches, and found that
the thing now presented was the only measure
that could be carried.
Mr. Choate made some explanation, not dis
tinctly heard. It was understood to be, that
he had not made use of tliG name or official
authority of the Executive ; but had ex
pressed his conviction, derived from many
| facts and deductions, which he did not think
i necessary to explain.
Mr. Ciay. lam satisfied that the honorable
■ Senator made an assertion much stronger than
j that which he now makes. He said he knew
there would be .no Bank this session, unless
j this amendment was adopted. 1 wanted to
ascertain how he knew the fact. I might
! not have been authorized in supposing lie
j knew it from the Executive ; he might have
’ derived his knowledge from the other branch ;
, but I wanted to know where he got the fact
from.
Mr. Chord o. It is proper for me to say that
I never exchanged a syllable with the Execu
tive, or derived from his lips any expression
on this subject. I said that I believed this
was the only way we had to get a Bank this
session ; and I stated distinctly that I had no
authorin’ for saying this from the Executive
or any one else whom the Senator from Ken
tucky alludes to as toy supposed authority.—
I stated my own convictions.
Mr. Ciay. I rise, sir, to vindicate myself
from the inference that 1 had no grounds for ,
questioning the Senator when I interrupted
him. The inference that l interfered incon
sequence of a mere expression of opinion,
is not warranted. I did no such thing. The
gentleman said that he knew we would have
no Bank this session unless we adopted this
amendment. He made the assertion most
positively, as if from the authority of some
competent power to render the measure nu
gatory. I wanted to know what authority he
had for the assertion ; and, for that purpose a
lone, I interrupted him.
Mr. Choate. I had given my conviction. —
The Senator from Kentucky asked me what
grounds I rested my, belief upon. I replied
that I based them on tacts and deductions. I
did not think proper to disclose. I did not,
in giving convictions from a belief I could not
control, imply that I had any Executive au
thority for what I stated.
Mr’ Clay—(excited.) Will the gentleman
say that he did not, in answer to my direct in
terrogatory, state that he could not disclose
the source of his convictions without a breach
of privilege and violation -ot parliamentary
ruxe 1
Mr. Choate attempted again to explain, but
was interrupted by Mr. Clay in great excite
ment.
Mr. Clay. That, sir, is not the thing. Did
you not say that you could not, without breach
of privilege, and violation of parliamentary
rule, disclose your authority.
Mr. Choate. Sir, I insist on my right to
explain what 1 did say, in my own words.
Mr. Clay, (under great excitement.) Did
you not say, sir, that—
Mr. Preston. I rise, sir, (addressing the
Chair, and advancing towards the centre of
the floor, where Mr. Clay stood close to Mr.
Choate,) I rise, sir 4 to a question of order.
The Chair called the senator to order; and
after a little agitation, all were seated.
Mr. Archer then rose and said he was sur
prised to see the Senator from Kentucky in
terposing his points of order to prevent an al-
lusion to the opnions of the Executive, as lie
is the last man in this body, and among the
last in the nation, who would permit Execu
tive opinions to influence his conduct on this
or any other question.
Mr. A. then proceeded in his argument*
The brief memoranda of the words furnish
es but a very imperfect idea of the scene.— ;
The manner in which the a flair was conduc
ted cannot be transfered to paper. Mr. Clay,
who sits on the opposite side of the chamber
from Mr, Choate, had approached him, before
the second altercation began, so that there
was but a single seat between them. When
Mr. Choate rose in reply to Mr, Clay’s re
newed suggestions urged in the most insul
ting tone, Air. Clay kept his feet In fact, he
turned upon him, and fixed an eye like that
of the basilisk, directly in his face; and when
he put his last question, he did it with an
emphasis and an expression of countenance,
which made it perfectly plain to every obser
ver, that it was an obvious attempt to Flelcher
ize Mr. Choate on the floor of the Senate of
the United States
Mr. Archer followed this up with an attack
on his colleague, Mr. Rives es Virginia, in
pretty much the same “Ercles vein.” We
shall not, however, analyze this subordinate
part of the play, as it is as yet but an adjourn
ed question between ths parties. Neverthe
less, we will not withhold the opinion, that
Mr, Rives bore himself well in the controver
sy. And as little reason as we have,to like
him, or to thank him for any thing on our*own
behalf, we must cheerfully acknowledge that
we are greatly inclined to thank him on public
account for the promptitude and spirit with
which he resented the puny effort of Mr.
Archer to vilify the characte-is of Mr Jeffer
son and General Jackson. Mr. Archer
sneered at Mr. Jefferson as a man who might
be quoted on all sides of every question; and
he denounced General Jackson as an ignorant
despot, and expressed his satisfaction at
having the opportunity of “ expectorating” his
spleen upon him in the presence of those who
had bowed the knee to him. We do not think
that these insults to the nation deserved any
notice. But Mr. Rives look the occasion to
say what every lover of the country and of its
great benefactors would feel on such an oc
casion. And he ought to have the credit, of
expressing American sentiments, even while
acting with those who repudiate them.
Correspondence of the Charleston Courier.
Washington, July 7.
The House has passed the bill providingfor
the distribution of the proceeds of the sales
of the public lands ; the final vote was yeas
116, nays 103.
This result was effected by the adoption of
a rule reported from the Committee of Rules,
providing that a majority of the House inay,
at any time, discharge the Committee of the
whole from any bill, taking the question or
amendm nts, without debate. The rule was
resisted as a gag, but was adopted, 117 to 95.
Under this rule, it was ordered that the dis
tribution bill be taken out of Committee at
seven o’clock P. M. The discussion proceed
ed till that hour. Mr. Rayner spoke in favor
of the measure,- and Was followed by Mr.
Marshall, of Kentucky, on the same side.
Mr. Marshall replied particularly to all Mr.
Wise’s arguments against the bill; and he
took occasion to state that much injustice had
been done him (Mr. Marshall) by those who
had represented him as an exponent of the
distinguished Senator from Kentucky, and as
an opponent of the acting President. He was
no opponent of Mr. Tyler’s, and should not
be —unless some developements, now unex
pected by him, should render him so. He did
not aspire to leadership—he preferred to fol
low, as a plain, subordinate whig, and to aid
in carrying out the measures desired by his
constituents, whose exponent he was.
Mr. Rhett had the floor only half an hour,
before the time fixed for reporting the bill, and
he remarked that the time would soon come
when it wculd be impracticable, if not uncon
stitutional, for any democrat to speak on the
floor.
The final question was not taken till 11 o’-
clock.
The Senate also succeeded in making some
progress in business. The ame .dment offer
ed by Mr. Rives to the Fiscal Bank Bill was
iurther discussed by several Senators. Mr.
Berrien delivered a strong argument against
it, shewing that while it failed to avoid the
constitutional objections which, without foun
dation were raised against the bill as reported,
it would render the institution when establish
ed, wholly useless and inefficient for any ob
jects.
Mr* Walker advocated the amendment,
though opposed to any bank. The amendment
respected the rights of the States which the
bill, as reported, trampled upon. If the bill
passed, it would revive nullification times.—
Mr. Rives’ amendment was rejected, yeas 10,
nays 38 ; as follows :
Yeas.—Messrs. Barrow, Bates, Choate,
Merrick, Phelps, Prentiss, Preston, Rives,
Walker, Williams—lo.
Nays.—Messrs. Allen, Archer, Benton, Ber
rien, Buchanan, Calhoun, Clay, of Alabama,
Clay, of Kentucky, Clayton, Cuthbert, Dixon,
Evans, Fulton, Graham, 1 lenders on, Hunting
ton, Kerr, King, Linn, M’Roberts, Mangum,
Miller, Morchead, Mouton, Nicholson, Porter,
Sevier, Simmons, Smith, of Connecticut,
Smith, of Indiana, Southard, Sturgeon, Tall
madge, White, Woodbridge, Woodbury,
Wright, Young—3B.
Two of the opposition only voted for the
amendment, viz: Mr. Walker and Mr. Wil
liams of Mo.
This settles the fate of the Treasury project
(so called) of a Fiscal Bank. If any bill can
pass it must be Mr. Clay’s, and, as to that,
there is some doubt.
Mr. Ciay remarked in a conversation con
cerning the hour of meeting, that the faith of
the whig party was pledged to carry out some
measure for the restoration of the currency.
A few days ago, he intimated that, if his bill
failed, either in Congress or with the Execu- ;
tivc, it would be necessary to try some new j
expedient. The opinion prevails that Con- j
gress will not adjourn without establishing
some sort of a Bank.
The opposition Senators are now to be lieard
against Mr. Clay’s bill. It may be a fortnight
before the final question is taken upon it.
The House is now in a condition to act
promptly on any measure. Not more than
five or six days’ debate will be tolerated there
upon any bill.
Fromthe Washington corresponJence.of iheCliarhs
ton Courier.
Washington, July 0.
The 4th of July was celebrated yesterday,
in this city, with every public demonstration of
rejoicing that individual or associated feeling
couid suggest.
The President’s mansion was open to visi
tors from 12 to 13 o’clock, and thousands of all
conditions embraced the opportunity to pay
their respects to the Chief Magistrate. Mr.
Preston stood by the side of Mr. Tyler. Ma
ny members of both parties were present.—
Mr. Tyler received every one with the cour
tesy and affability for which he is so dist.n
guished.
A complimentary dinner was given to Mr.
Clay by the citizens of Georgetown, and Mr.
Clay addressed them with his usual grace and
eloquence.
The Senate did not meet. But a little more
than one half of the House met, and refusing
to adjourn, went into committee on the distri
bution bill. Mr. Wise spoke some hours a
gainst the bill, as unjust and unequal in its op
eration, and unwise in principle. The Presi
dent, he said, had recommended a distribution,
and one that would not render necessary a
breach of the compromise act, nor affecting
the pre-emption principle, was what the Presi
dent proposed ; but this bill did not conform,
in any of these particulars, with his recom
mendation. He did not believe that the mea
sure wouM b* ol an v ralwf to the States.
The distribution of twenty-eight millionir, ‘rti
1836, which “forty-three democrats and Wise”
voted against, was ruinous to the States
plunging them into more than seventy milliona
of debt. This bill would only encourage new
schemes of extravagance and speculation, and
end in additional debt. It would subvert tlie
| independence of the States, and render theiri
I dependents on government bounty. Congress
would often be compelled to supply the means
for their extravagance.
The most equal mode of distribution would
be to pay the public debt—when that was*
paid, another equal mode of distribution would
be found in the appropriation of the sales of
the lands to the navy.
An effort will be made to-day to put an end
to this debate. The bill is likely to pass by 1
very small majority in the House. Its fate iff
the Senate is more uncertain.
At last, it has been determined that Mr;
Jenifer shall have the Austrian mission. No
one has been found yet who would take the
mission to Russia. T think Mr. Talnnadge
will take it, after the present session. Mr. J.
M. Clayton has been spoken of for the London
mission.
NF.W YORK, July 4.
15 DAYS LATER FROM EUROPE.
ARRIVAL OS THE BRITANNIA.
The British Royal Mail Steam ship Britan
nia Capt, Cieland, arrived in Boston, at about
7 o’clock, on Saturday morning, in a passage
of thirteen days and a half, from Liverpool;
having left that port onthe 19th ult. By this ar
rival we havefull London files to the evening of
the 18 liverpool papers to the 19th; and Lloyd’s
Lists complete to the latest dates, for an early
delivery of which we are indebted to Mr.
Harden’s Express. We have also received
full letters from our correspsndents in London
and Paris, which we subjoin.
The news is not of very special impor
tance.
The British ministry had been several times
out voted in Parliament, and Sir Robert Peel’s
motionthat “ The present Ministers do not pos
sess the confidence oftlie present Parliament,”
was carried by a majority of one vote.
The Ministers of course subsequently de
termined upon a dissolution of Parliament;
though no day appears to have been definitely
fixed upon for that event.
The country was full of excitement on tho
subject, of the new election which would take
place immediately and preparations were ma
king with the utmost activity in all parts 6f
the United Kingdom. It will be a tremen
dous struggle, but the Ministers were confi
dent of carrying a decided majority.
The Cotton and Money markets will be
found in their proper places. Cotton had de
clined considerably, but the demand subse
quently improved though without recovering
in price. Flour had slightly advanced.
The Britannia out oil the 9th of June—lt
days from Halifax.
The Caledonia steamer arrived at Liverpool
on the 14th.
There was no later news from China. A
reinforcement, of 1000 men was about to
leave England foi* that country.
Astley’a Theatre in London Was burned
to the ground on the 18th June, and one wo
man perished in the flames, the loss is estima
ted at £35,000 sterling.
The large commercial house of Grant &.
Cos., Glasgow, had failed for £IBO.OOO, which
it was feared would seriously affect other
houses.
No intelligence had been received of the
President steamer, though rumors continued
to reach England, only to be contradicted thb
next day. The British Government had de
clined to despatch a vessel or vessels in search
of her, as she is looked upon us hopelessly
lost.
There is nothing of much importance from’
France or Spain, or indeed from any part of
Europe. Soull had resigned in a buffi in con
sequence of some disagreement concerning
enlistments in the ariiiy, but being permitted
to have his own way, he again took his place.
The following is the Vote on Sir Robert
Peel’s motion :
For Sir R. Peel’s motion,’ 312
Against, 311
The London papers mention the probability
that the Queen will be confined in Septem
ber.
The health of the Queen was bad. Some
alarm w’as felt in consequence.
In Syria more troublesdiave broken out., anu
some Murkish troops had been driven back by
the mountaineers.
In Crete the insurrection is complete, rais*
ing recruits, distributing arms, and furnishing
men thro’ the Archipelago.
The Sultan of Turkey was alarmingly ills’
From the Georgia Argus, of yesierday.
Chattahoochee Rail-Road and Banking
j Company —We confess that we are much dis
appointed as to the character of the following
report of the condition of this institution,
made by ti e committee appointed for that
purpose. It is not such an one as tne peopih
had a right to expect. Instead of a state
ment of this sort, we think they should
have taken the pains to explain satisfactorily
these items of liabilities and assets, not to
have paraded them before the public in their
present dark and mysterious si.ape. There
are items in tiie report which we cannot un
derstand—Financiers may solve the mystery
but the mass of the people cannot. ‘Hie
committee put down the liabilities of the Bank
to be $273,455 24, to pay which ihev pro-
I fess to have assets to the amount of $278,122
I 43. The character of this report, will not
warrant us in giving one word of encourage
ment to bill-holders. The hills are worth in
the streets from 40 to 50 cents on the dollar. —
We perhaps shall give this report further mr
lice next week.
From ihe Enqiii. er, of yesterday.
Chattahoochee Rail Road Bank. —We
publish below the report of the commit
i tee appointed by the stockholders of the.
Bank to investigate its condition. We need
I not say that we are somewhat surprised at
the state of facts therein disclosed. In the first
place the amount of its liabilities is far short
of what we had supposed, and will therefore
render the loss to the community much ligh
ter than was anticipated. The amount of the
liabilities of the bank at the date of its report
in April last, were, if we remember right*
§196,828 98. It is somewhat gratifying there
fore to find that they are now but little over
half that sum.. B ljt while the debts of the
institution are less in amount then we had
supposed, we are sorry to perceive that the
real and available assets are still more defic
ient. We had hoped until now that the Bank
would ultimately be able to redeem its bills
and that the holders would only have to sub
mit to a loss of interest until such time as
the institution could wind up its business. It
is .true that the deficiency in the assets
cannot be accurately determined, until tho
bank has closed up its cotton account and
made an effort to collect its doubtful notes
and overdraws; but if we suppose that it loses
§IO,OOO on cotton, and §16,000 or one half
of its bad and doubtful debts, we have at once
a loss of SIO,OOO which added to the §IO,OOO
of officers salaries, will cause a deficiency of
§33,000, or about 12 1-2 per cent, on the
liabilities. This added to the loss of interest
which the holder of the bills and obligations
will have to submit to until the Bank can
turn its assets into funds, will in all probabil
ity bring up the loss to between 30 and 40 per
cent. This calculation may be extravagant
we hope it is. We have no wish to cause
a.;y one to sacrifice a farthing on this money*
or to show the Bank up in a worse situation
than it is ; but we have felt it our duty to say
thus much, in the expression of our own opin
ions in relation to it.
Samuel Hale, Esq., a valuable citizen of
Augusta, died on mondsy last near that city*
of apoplexy and paralysis.—Augusta paper.