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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.