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friends in peace and allies in war. They ac ted towards them in the most liberal and en listened policy. It was left to the commer cfai avarice of modern times to pursue a dif ferent course. England, Portugal,and Spain, had the finest colonies ever known. But they looked upon their growing wealth and enter prise with jealousy; they made them perma nent sources of revenue for the mother coun try ; they raised from then annual contribu lion with which to enrich themselves. The consequence was, that they lost the finest possessions that ever belonged to any people. And it is only by modifying their policy, that they have been enab.ed to retain any portion. And now, with the lights of experience be fore us, you propose by this bill to adopt a system somewhat similar in its principles o that formerly adopted by bpa.n and England in relation to their colonies. And the final consequences will be the same. You may find some of the new States acquiescing lor a time under their embarrassments and the pressure of commercial derangement; but Ihcv will soon recover from that. You can not keep down the energies of this people.— Their embarrassments are but temporary. — They will rise above them in a very few years. Are we to legislate for a mere tem porary state of things? Is it wise to pass a bill of this kind, which was to operate upon millions of human beings as enlightened and as free as ourselves, underpressure and em barrassments from which they were sure, in the progress ol things, to be relieved in a ve ry principles of the bill were so well calculated to produce alienation and unkind feelings?— They will soon assert the dotrine that under theJDeclaration of Independence they came into the Union as equals, and that to own the freehold within their limits is an essential attribute of sovereignty. Yon will force up on them this doctrine. Mr. Chairman, what is the state of the world? In the vast improvements ol the age, we find every nation around us increasing their military power. Have we no difficul ties? Have we no points of difference with a haughty and powerful nation? True, we were at peace. But we had recently shown, through the accredited agents of our Govern ment, a spirit and tone but ill calculated to sustain the honor and independence of the country. I will forbear to speak my senti ments on that point at present. It is delicate matter, and I will suppress the feelings of scorn that I entertain for the manner in which our foreign intercouse has recently been con ducted. But is this a time to divert an im portant branch of your revenue from the public defences of the couutry ? Were we prepared to take a course that would dry up our resources at a time when they might be needed for the highest purpose of Govern ment? If there be any surplus, spend it on your navy, to protect your flag from one open dishonor —guard your commerce—de fend your soil from violation, your citizens from'murder-prepare to sustain your rights at home and abroad. Spend your money for these purposes; but I entreat you to do noth ing that will alienate the affections of any portion of our people from their Govern ment at this juncture of our public affairs.— Let not this great Union be perverted from its high national objects into a contemptible machine to collect revenue to be distributed among those who will hang around yonr Treasury as fawning sycophants and profli gate bankrupts. Mr. Chairman, I know that] I address a fixed and inexorable majority. But let me appeal to them to consider what they are a liout to do. Coming, as they do, fresh from the conffct of bitter party contests, and flushed with the triumph of victory, have thev reflected fully on this great subject with a sole view to promote the lasting good of their country ? Those only live in tlie admi ration of posterity who can on great occa sions rise superior to party trammels, and look alone to their country, her honor, her inter ests, and her true glory. If Napoleon, in his pride of power, had consulted the partner of his early fortunes, and looked with a single de votion to the star of France, he might this day have been wielding in peace the same sword that he flashed in the blaze of victory at Ma rengo and Austerlitz. There is no policy so fatal as to push power to an extreme. Sir, we are at an important point in legislation. I ap peal to gentlemen to survey the ground well. 1 invoke the spirit of the entombed Constitution to save mv country from the ruin that a waits her if these reckless schemes be adop ted. THE BANKRUPT LAW. The following from the Charleston Mercu ry shadows forth some of the many questions to which the Bankrupt Bill just passed by Congress, is to give rise. As the Bill is one of general interest, we shall publish it entire next week. The Bankrupt Law.—A paragraph crept into our paper yesterday without any legal right, which entirely misrepresents this law— stilting that under it the first attachment has the preference over all other claims. The prime purpose of the law is to abolish all pre ferences, and to distribute the debtor’s estate summarily among his creditors. It is not yet clear how far it will be explained to carry out this doctrine. On first reading the law it struck us that it did not recognize the lien of judgments—that it did not admit as incum brances on the bankrupt’s estate any liens that were not secured upon portions of the proper ty particularized and set apart in the security, such as mortgages. We “take advice” on this point and were assured that we were wrong. We have since heard that we were very pos sibly not wrong—that it will be a vexed ques tion’ before the courts whether general liens are any security under the bankrupt law. A mortgage is not considered a creditor , under this law—on the contrary all creditors are treated as equals. To this there are three exceptions named. The United States have a preference—the policv of which is more apparent than the jus tice. Persons who are allowed a preference by the laws of the United States in conse quence of having paid money as sureties also have a preference. We are not learned e nough to know how large this exception is, but if it is really intended to protect “accom modation endorsers,” it is abominable. An endorser loans his name and pledges payment of a sum, on failure of his friend. What bet ter claim has he, than that other friend who loaned the money in the first instance. It has been suggested however, that the exception is limited to those who have paid money as se curities on Custom House Bonds and the bonds of the public otficers, and that it is there fore, a scrt of appendix to the first, standing like that on policy and not justice. The third exception is that of creditors of bankrupts, who are also their debtors—or where there are mutual debt and credits—in which case the balance is. to be struck and that is to be considered the true debt. There is as little justice in this as in the two first— though the necessity of it is more apparent. The law goes upon the violent principle that all debts due to the bankrupt are to be paid in full, all debts due by him are to be paid ac cording to the proportion of each to the whole of his estate. The law exists only by draw ing a marked distinction between debts due by and due to the baukrupt. However, the very first principle ot the law is revolutionary, and its no use to point out the injustice of the details of an act that starts by abolishing the jegal obligation ot contracts. At a late commencement at Yale College, the decree of L.L. D. was conferred upon Au gustus’ B. Longstreet, President of Emory College, who graduated in the class of 1913. THE TIMES. The union of the states and the sovereignty of l he states COLUMEtUsTsEPTEMBER 9, 1841. DEM OCRATIC TICKET . FOR GOVERNOR, Charles j. McDonald. For Senate, Col. A. McDOUGALD, ‘ Representatives, Maj. JOHN H. HOWARD, Hon. W. T. COLQUITT, Hon. MARK A. COOPER, Col. JOHN 11. WATSON. Randolph County. - Senate, Col. ALLEN MOYE. Representatives. Col. A. M. HUGHES, Col. S. A. SMITH. Report of Deaths in the City of Columbus, for the week ending September 7th : Dysentary—l male. Teething—l child. Unknown—l child. W. S. CHtPLEY, President Board of Health. THE REVENUE BILL. It is admitted that this bill is objectionable,, that it was urged too precipitately through the House ol Representatives, and that the Whigs themselves are not altogether satisfied with it. The Richmond Whig said a week or two since, that the Whigs were desirous to ex clude tea and coffee from the operation of the law, but were prevented by the Democrats, who form a large minority in the lower House of Congress —and a similar objection to the bill has been urged by various leading Whig journals in different parts of the country. It is conceded, therefore, that the act as framed is an improper and oppressive one, and that the Whigs themselves were very solicitous to alter some of its features. Why was it rvot done ? Because, say the majority who passed the bill, according to parliamentary practice, at the particular moment the motion was made to exempt tea and coffee, that motion could not have been put, t oilhout including with it an amendment suggested by a Demo-, crat, to exempt likewise sugar, molasses and salt. These latter articles were required to be taxed to afford a sufficient revenue, and therefore it was necessary to retain tea and coffee among the taxed articles, as the motion and amendment could not be put separately. Admit this statement to be correct (which we shall presently show is not the case) what injury to the public interests would have re sulted by exempting not only tea and coffee, but sugarj molasses and salt 1 Are they not all articles of the first necessity-—indispensa ble to comfortable subsistence—and in uni versal use 1 And if, in any possible manner, the wants of the Government could have been otherwise supplied, did not a proper regard for the interests of the great mass of the peo ple, indicate that all these articles should be admitted duty free, and thus the consumer be saved some expense, however small, in this season of embarrassment and difficulty 1 It is said, however, that sugar, molasses and salt were subject to duty heretofore, and that the present Revenue Bill leaves that duty pre cisely where it was. Here is the very ground of complaint. While adjusting anew law rel ative to imports, taxing articles heretofore free, and elevating the duties on such articles as paid less than 20 per cent, to 20 per cent ad valorem, why not, at the same time, re lieve such articles as were paying a higher duly than 20 per cent, by admitting them free, or, at any rate, bringing them down to 20 per percent—especially articles in such general use as sugar, molasses and salt 1 Whore would have been the impropriety in a course of this kind on the part of the majority If the parliamentary rule were even as stringent as is represented, the Whigs, being the ma jority, had the power certainly to exempt all these articles, especially as the Democrats were aiming to accomplish that object. There surely would have been no difficulty under such auspicious circumstances. But the Government wanted the money to be raised by duties on these articles, sugar, molasses and salt. It seems, however, that the Government also wanted the money to be raised by taxes on tea and coffee—that is, if the bill introduced by the Committee of Ways and Means were correct, proceeding on the ground that the articles enumerated in it must be taxed 10 raise a sufficient revenue for the Government, and yet a Whig member of Congress moved to exempt from duty tea and coffee. Now how could the country get a long without the money to he raised by duties on these articles ] The Bill introduced by the Committee of Ways and Means, professed to call only for such an amount as the exigen cies of the Government demanded, and yet the Whigs were willing to strike out two im portant articles enumerated in the list. Does not this show that a portion of the money in tended to be collected by duties on imports might be dispensed with without detriment to the public interest! Else why manifest such a willingness to exempt them ! This move ment to admit duty free, Jas heretofore, tea and coffee, evincing a conviction that the money to be raised from their taxation could be very well dispensed with, authorizes the belief that other articles (sugar, molasses and salt for instance, or same one of them,) might also have been excluded from the Bill, or the duties on them lessened, and yet the operations of the Government have been in no-wise checked or embarrassed in consequence. It is said that the Government is over whelmed with debt; and that no means had accrued, or were accruing to liquidate this debt. Where is the evidence of this enor mous indebtedness? Has it been satisfaclo ri'y shown? On the contrary, does not Mr. Calhoun demonstrate from the Report itself of the new Secretary of the Treasury, that such embarrassment on the part of the Gov ernment does not exist? We refer our read ers to the extract from that speech in another partot this paper. It shows clearly—beyond a shadow of doubt—that the Loan Bill and the Revenue Bill were not required by any actual, or expected indebtedness of the Gov ernment. Did not Mr. Barnard, a Whig member of Congress who, during the session which terminated on the 4th of March last, endeavored to prove the U. States to be forty millions in debt, during the progress of the Revenue Bill in the House, remark that, on examination and farther scrutiny, he thought that five millions would be sufficient to raise in that form—whereas the Bill as passed will bring in from that source eight or ten mil lions ? But the motion to exclude-tea and coffee f om taxation could not be put,witl o it also ex cluding with them the amendment to exempt sugar, molasses and salt. It appears, howev er, from the repotted proceedings of the House of Representatives, during the pro gress of the Revenue Bill, that a motion was made to exempt the single article of salt. Mr. Cushing, (a Whig,) being in the Chair, decided that the vote could be taken sepa rately on that article. It was taken, and the majority refused to exclude salt from taxation. It is, therefore, perfectly apparent that it was within the power of the majority at any time, in the progress of the bill, to separate the ar ticles taxed, and include or exclude any of them. THE MEANS AND THE WANTS OF THE |GOVERNMENT. We have placed in our columns to-day all that portion of the speech of Mr. Calhoun, of South Carolina, delivered in the U. S. Sen ate, in June last, which has reference to the estimates of the Secretary of the ‘I reasury, and the available means and necessary ex penditures of the Government. We hope our readers will not be deterred from giving this extract a careful examination—as, if it approximate at all towards accuracy, the folly and error of passing the new Revenue Bili will at once he most apparent. Certainly a man holding the eminent rank Mr. Calhoun does,"would not venture statements to the world, involving matters of fact susceptible of speedy and easy elucidation, without a belief in their correctness —and no one will question the ability of this distinguished Senator to fully examine, and accurately determine the financial affairs of the country. Read the extract. RETRENCHMENT AND REFORM!!! Few, very few in this section can have forgotten that one of the principal arguments employed last year to eftect a change ot Ad ministration, was that the expenditures of the Government were enormous, and ought to be reduced. The following are the remarks ol the National Intelligencer, the Administration press in Washington City. “WE HAVE NO IDEA OF ANY REDUCTION IN THE AGGREGATE AMOUNT OF THE EXPENDITURES OF THE GOVERNMENT. ANjAUG MENTATION OF THE REVENUE TO SOME EXTENT IS, THEREFORE, INEVITABLE.” THE CENTRAL BANE. We have been requested to publish the ac tion had in the last legislature respecting the Central Bank. W’e find among the laws enacted by the last legislature, one “to repeal an act entitled an act to establish a bank at Milledgeviile, to be called and known by the name and style of the Central Bank of Georgia &c.” The material portion of that law, and the part which inhibits the Dank from extending its discounts , or making farther issues , is embraced in the second section, and reads thus— Sec. 2. And be it further enacted by the authority aforesaid, That the Governor of this State be, and he is hereby authorized to exe cute the Bonds of this State, not exceeding one million of dollars, in sums not less than five dollars each, redeemable at the end of five years, or sooner, at the option of the State, bearing an interest of eight, per cent per an num, payable annually in the cities of Savan nah, Augusta, and Milledgeviile, which bonds shall be used exclusively for the redemption of the bil.s of the Central Bank now in circu lation, and those which this General Assem bly may direct the issue of, to defray the ex penses of, and the appropriations made by, this General Assembly, and for no other purpose whatsoever , and only for that purpose to the extent necessary, after the just application of the funds of the Central Bank available for that purpose :—Provided nevertheless, That if it be practicable to obtain specie for the pur pose aforesaid, by making any of the aforesaid bonds payable elsewhere than in this State, the same may be made payable at any place in the United States. The action of the House of Representatives upon the act, of which the above section is the material portion, may be found on page 334 of House Journal, and reads thus— Upon the passage of the bill the yeas and nays were ordered to be recorded, and are yeas lU4, nays 68. Those who voted in the affirmative, are Mes srs. Alexander, Anderson of Chatham, Ander son of Warren, Ashley, Barclay, Bell, Bent ley, Bigham, Boynton, Brown ol Bibb, Brown of Houston, Bryan ot Houston, Burt, Chap man, Chappell, Chester, Covenah, Cooke, Crat', Crawford of Oglethorpe, Crawford ol Richmond, Credille, Outright, Daniel of Green, Daniel of Thomas, Darden of Troup, Darden, of Warren, Davenport, Davis, Delauney, Dix on of YV alker, Dodson, Emanuel, Farnall Ford of Lee, Flournoy of Muscogee, Flournoy of Washington, Foster, Gathright, Greene ot Macon, Hagerman, Hampton, Mardman, Har dy, Harrison of Putnam, Hines, Hitchcock, Aotchkiss, Hubbard, Hudson, Johnson of Heard, Johnson of Troup, Jones of Harris, Jones ot Monroe, Jordan, King, Lefils, Long, Loyal!, Lynch, Mann of Morgan, Mann ot Tattnall, Martin of Morgan, Martin of Gwin nett, Maxwell, May of YY'arren, McCall, Mc- Crimmon, McMath, McMillian of Thomas, Milieu, Moore,Morris of Cobb, Mulkey, Nash, Osborne, Parks, Pryor, Rea, Read, Reeves, Reynolds, Rhodes, Richardson, Robinson of Laurens, Sheffield, Smith, Stewart of Mcln tosh, Stuart Es Ware, Stiles, Stone, Stroud of Clarke, Taylor, Thomas, loombs, Trayler, Wales, YY'arren, YY r elborne, YY r est, White ot Jasper, Whitfield, Whitworth, and Williams of Harris. . . Those who voted in the negative, are Mes srs. Anderson of Franklin, Atkinson, Beavers, Bethea, Bryan of YY'ayne, Carlton, Cannon, Carroll, Chandler, Collier. Crutchfield, Dark, Dawson, Dufour, Ellis, Erwin, Espy, Ford of Cherokee, Green of Forsyth, Green of Pike, Hall, Hammond, llardage, Harrison of Ran dolph, Harris, Hendry, Htbbert,Howard, Hud gins, Hunter, Johnson of Appling, Jones of Franklin, Keaton, Lawson, Lee, Liddle, Mays of Cobb, McDuffie, McJVlillen of Jackson, Mitchell, Moon, Morris of Murray, Moultrie, Murphey of DeKalb, Neal, Nixon, Palmer, Pettee- Pitman, Pitts, Price, Roberts, Robin son of Jasper, Rodgers, Sanders, Sanford, Shropshire, Stephens, Stroud of YY”alton, Sum nior, Tanner, Tarver, Thompson, Turner, Webb, White of Pike, Williams of Bulloch, Wilson. These proceedings took place in the House on Saturday, the 12th day of December. On Monday the 14th pf December, a motion was made to reconsider so much of the Journal of Saturday as related to the passage of the bill concerning the Central Bank. Whereupon, the yeas and nays were order ed to be recorded, and are yeas 73, nays 110. Those who voted f in the affirmative, are Messrs. Anderson of Franklin, Atkinson, Barclay, Beavers, Brqwh of Fayette, Bryan of Wayne, < Carlton, Cannun, Carroll, Chandler, Collier, Crutchfield, Dark, Dixon of Walker, Ellis, Erwin, Espy, Farnall, Green of Forsyth, Green of Pike, Hall, Hammond, Haidage, 1 Harrison of Randolph, Harris, Hatcher, Hen dry, Hibbert, Howard, Hudgins, Hunter, Johnson of Appling, Jones of Franklin, Kea ton, Lawson, Lee, Liddle, Mays of Cobb, McDuffie, McMillen of Jackson, Mitchell, Moon, Morris of Cobb, Morris of Murray, Murphey of DeKalb, Murphey of Wilkinson, Neal, Nixon, Palmer, Pettee, Pitman, Pitts, Price, Roberts, Robertson of Columbia, Ro binson of Jasper, Rodgers, Sanders. Sanford, Shropshire, Smith, Stroud of Walton, Sum mer, Tanner, r l'arver, Thompson, Turner, Webb, Welborne, While of Pike, Willirins of’ Bulloch, and Wilson. Those who voted in the negative, are Mes srs. Anderson of Chatham, Anderson of War ren, Ashley, Bell, Bentley, Black, Boothe, Boynton, Brown of Houston, Bryan of Hous ton, Burt, Coapman, Chappell, Chester, Chip ley, CoVetlah, Cooke, Craft, Crawford of O glethorpe,’ Craivford of Richmond, Credille, Cutrigbt, Daniel of Greene, Daniel of Thom as, Darden of ‘Troup, Darden of Warren, Davenpert, Delauney, Dodson, Emanuel, Evans, Flournoy of Muscogee, Flournoy of Washington, Ford of Lee, Foster, Franks, Gathrighf; Hagerman, Hampton, Hardman, Hardy, Harrison of Putnam, Hines, Hotch kiss, Hubbard, Hudson, Johnson of Heard, Johnson, of Troup, Jones of Columbia, Jones of Monroe, King, Lefils, Long, Lowe, Loyall. Lynch, Mann of Morgan, Mann of Tatnall, Martin of Morgan, Martin of Gwinnett, Max well, May of Warren, McCall, McCrimmon, McGahagan, McMath, McMillian of Thom as, Meadows, Millet), Moore, Mulkey, Nash, Osborne, Parks, Pieston, Pryor, Rea, Rend, Reeves. Reynolds, Rhodes, Richardson, Ro binson of Laurers, Sapp, Sermons, Sha, Shef field. Stephens, Stewart of Mclntosh, Stuart of Ware, Stiles, Stone, Stroud of Clark, Tay lor, Toombs, Towles, Travler, Waldhour, Walker. Warren, West, White of Jasper, Whitfield, Whitworth, Williams of Harris, Williams of Talbot, Wingfield, and Wooten. So tWe rfouse refused'to reconsider. In,the Senate, oh Tuesday the 22;1 of De cember, (see Senate Journal page 369) the question relative to the repeal of the act es tablishing the Central Bank, came up, and on the passage of the bill (the second section in serted above) the yeas and nays were requir ed to be recorded, and stand thus— Those who voted in the affirmative, are Messrs. Beasley, Blackshear, Bryan of Stewart, Calhoun, Carter, Chastain, Christain, Creach, Dawson, Flovd, Fryer, Glover, Goode, Gor don, Griggs, Harris of Warren, Janes, Jones, Knight, McDonald, Miller, Minler, Moore, Neil, Reid. Smead, Smith of Bryan, Spencer, Strickland of Tattnall, Strickland of W#re, Thomas, Tomlinson, Vincent, Williamson, Waldhour, Warthen, W’iggins, Wright, and Young. Those who voted in the negative, are Mes srs. ! ■ Beall, Bishop, Bos-w-ck. Camp, (’one, Cox, Culbertson, Diamond, Dunagan, Echols ot Coweta, Echols of Walton, Gi a ham, Guess, H\tnmood, Hiffin, Henley, Holmes ol Baker, Holmes of Houston, Jemeson, Kimsev, Lind say, Loveless, Marsh, Mays, McAflee, Mor ris, Rainey, Robertson, Smith of Twiggs, Speight, Stapleton, Swain, Walker, Wallers, and Williams. So the bill passed under the title thereof. BANK OR NO BANK. An instructive article from the Madisonian showing how lar the question of a bank was the issue, or an issue in the last election, will be found in this paper. We recommend to the special attention of the late Honorable Senator, from Talbot, and the Columbus En quirer, who have stated that the issue was Batik or no Bank, the whole of the article, but particularly those portions of it distinguish, ed by italics and small capitals. What does the Columbus Enquirer think of the concluding remark of the Savannah Re publican, of the 15th of September, 1840— “that the Harrison party here (in Savannah,) has as large a number opposed to a Govern ment ißank as their opponents'!” The Enquirer has not yet answered our queslio%—whether, if the Distribution Bill had been let alone, the articles heretofore duty free might not still have remained so?—or, whether, in framing a Revenue Bill, a much less duty than 20 per cent might not have been imposed on free articles: and articles of prime necessity (such as sugar, molasses and salt,) paying more than 20 percent, might not have been subjected to a much less lax —ar.d still a sufficient sum have been raised to meet public demands? The Georgia Delegation, it is true, voted against the Distribution Bill. Before, how ever, the filial vote was taken, in the Senate, on tlte Distribution Bill—the Revenue Bill passed the House. The vole on the Revenue Bill stood yeas 116, nays 101 — Mr. Alford voting in tlte negative —-Col. Foster absent. Suppose the seven members from Georgia who voted lor the bill, and Col. Foster who was absent, had voted in the negative with Col. Alford —bow then would have stood the vote? Would it not have been—yeas 109, nays 10S? What would this result have effected—the loss of the Distribution Bill in the Senate? Most certainly. And by prevent ing tl;e passage of the Distribution Bill, and turning the three millions derivable annually from the Public Lands, into the National Treasury, would not the necessity for taxing lea and coffee (if indeed such necessity can be shown.) have been obviated—and Con gress have been enabled, probably, to reduce the duty on sugar, molasses and salt, without detriment to the public interest? This ap pears be a plain case, and what we have-saggested above to have been sus ceptible of easy accomplishment. Why was it not done? YY'ilJ the Enquirer furnish a sufficient reason ? The truth cannot be disguised -Mr. Clay is rapidly perfecting his odious system of pub lic policy. The Distribution Bill and the Loan Bill, with other subordinate measures in the course of accomplishment, will create the necessity for a high Tariff. It can end in nothing else. lu addition, if a Bank be char tered, the Government must raise its propor tion of the capital. Here is a still further augmentation ofihe public debt. YY"hat other means are provided to extinguish these lia bilities, and furnish funds to meet the current expenditures of the Government, but those derivable from duties on imports? And to give some idea of the amount to be raised hereafter from this source alone, look at the remark of the Government organ in this pa per, that it does not suppose the expenses 0| the Government hereafter will “be less than they have been heretofore—although one of the principal reforms promised by a change of Administration, was a reduction in the “enormous” and “profligate” expendi tures of the last Administration. Here is food for digestion, and such as ought lo arouse the attention of every reflect ing man. We believe it is creating alarm and apprehension among considerate Whigs —the Republican portion of the Whig party. We have heard of expressions of disappro bation from prominent Whigs in this section, at the tendency of things, and the present aspect ot public affairs—shadowing forth the speedy adoption of a'l those objectionable measures which have been attain and again repudiated by the South, as violative of its rights, destructive of its best interests—and as strengthening improperly and dangerously the arm of the E’ederal Government. BANKS OF COLUMBUS. Since the close of the Western Bank of Georgia, in this city, a few days s nee, notice of which was given last week—reports unfa vorable to the other banks of Columbus, and particularly to the Planters and Mechanics Bank, are in circulation in the country. We hazard nothing in saying that any apprehen sion concerning these institutions (the Bank of Columbus and the Planters and Mechanics Bank,) or of their ability and readiness to redeem their notes in current funds, are ill timed and unnecessary. We have made enquiry in the proper quarter, and are satis fied of the correctness of what we state. And as the alarm at the present moment seems to have reference particularly toj the Planters and Mechanics Bank, we can stale in regard to this institution that ii is redeeming its notes in current funds, or in checks on New York at the usual rates, deducting something when its own bills are paid for exchange. It will continue to pursue this course so long as it has a dollar out. The Bank of Columbus is pursuing A course equally satisfactory, we learn. We say again be under no apprehension these two Banks. Credit no ru mors you hear respecting their failure, or ap proaching failure. If the bills of either of jhem are brought here, you can get in ex change current funds. They are in the hands of men of capital and credit, and who will not suffer them to retrogade from where they now stand. Their indebtedness bears no proportion to the amount of their assets—and although these assets are not immediately available, yet they are of a character and kind to enable the institutions which hold them, to make all necessary arrangements to meet their liabilities in current funds. We say again if any are led by false rumors, or apprehensions of loss, to sacrifice the bills of ihe two Banks now doing business here, they will assuredly regret it. As we have heretofore remarked the Bank ing system, in our opinion, requires thorough reformation—yet this opinion does not, and ought not to restrain us Irom communicating facts, interesting and beneficial to the public, based on sufficient evidence lo authorize their perfect belief. Such are the character of the (acts detailed above respecting the Bank of Columbus, and the Planters and Mechanics Bank. MR.. ARNOLD, OF TENNESSEE. This gentleman has attained some notoriety recently by his coarse abuse of Air. Tyler. We krfow nothing of him personally, except that he is a member of Congress from Ten nessee. Tiie Columbia (S. C.) Chronicle, a Whig Journal, seems to possess particular informa tion respecting the Honorable Mr. Arnold, as the subjoined article from the Chronicle of the Ist inst. will show : A Jackall playing thf. Lion. —Thomas D. Arnold\ known as Thomas Dog Arnold, or Benedict Arnold, in Tennessee, and who was elected to Congress by chance from the first Congressional Distifttof Tennessee, has been seeking distinction at Washington City by stigmatising. Mr. Tyler as “the base, miserable u-releh at the other end of the aven ue,” wi'h other vituperative epithets. That this conduct is in perfect consistency with his character may lie known when we state the fact that we have now before us the Jonesbo rough (Tenn.) Whig of June 30, in which he is held up to the public as a grig shop bully, a liar , a scoundrel, and a coward, by a respecta ble lawyer named Thomas A. R. Nelson. Public Expenditures. —As the Enquirer went so wide of’the mark in its computation of the State debt of Georgia, we thought we hazarded nothing in manifesting a desire to dissect its computation of the indebtedness of the General Government. As, however, it has directed our attention to estimates and calculations of the official organ at Washing ton City, we ask its perusal of the extract from the speech of Mr. Calhoun, to be found in this paper. We shall continue these ex tracts from the speeches of other distinguished Statesmen, made during the present session of congress, who have had access to the same “ Public Documents,” and are as capable of analyzing them, as the National Intelligencer. Daguerreotype. —We call the attention of our readers to a notice of Mr. Fogle in an other part of this paper, respecting this ex traordinary invention. Mr. Fogle has provi ded himself with an improved Apparatus— and we have seen several specimens (likeness es and views,) which show very strikingly die remarkable power of this recent discovery to delineate objects with perfect accuracy. Mr. Fogle has a view of the upper pirt of Broad street, aud of the Episcopal Church in this city, an inspection of which will give some idea of the power of the Daguerreotype to catch and delineate different objects, and the most minute features of them. The cnergv and enterprise of Mr. Fogle in supplying himself with an Apparatus so expensive, and incurring the risk of reim bursement by the public —especially as like nesses and views are taken with such perfect accuracy, and at so low a rate—entitle him to the favorable consideration and the patron age of the community. MUSCOGEE COUNTY. The Enquirer, ia announcing the W h'g ticket for this # county, says that the welfare ol the country, without regard to party inter ests, is what it seeks. In another place, in its paper of yesterday, it italicises our remark of last week that we had announced a ticket “selected to represent the interests of the De mocratic party”—thereby making the distinc tion that the Whig ticket was of more enlarg ed and liberal views, looking beyond the mere fortunes of a party to the great interests of the country. If by this the Enquirer means that its ticket is not exactly “an unit”—that some on it are Tyler men, in opposition to Clay, and others Clay|men, in opposition to Tyler, we are instructed that the Enquirer is entirely correct. But does the Enquirer mean to say that in all that pertains to party organization —to the preservation of strict party lines — and the ascendancy of parly power, in all its Jor ms and phases, the Whig ticket is less te nacious and committed than the Democratic ticket? Ceriainly it cannot mean this, and yet fight with the weapons of truth. Does the Enquirer mean to say that, in it? legisla tive action, the whig ticket will not adhere to what are understood to be the prominent mea sures of the whig party —will not, in every instance, vote for whigs for such offices as may be filled by the coming Legis'atuie —and, in all things, conform to .the views and measures of the Whig party ? Certainly the Enquirer cannot mean to assert otherwise, and yet fol low “the code of honor” by which it profes ses to be governed. Now, in our remark, that certain individu als had been “selected to repieser.t the inter ests of the Democratic party ol Muscogee county in the next legislature of Georgia,” we meant to say, and presume we were so under stood by our readers, that the Democratic candidates, if elected, would seek to carry out such measures as were believed by the parly to which they were attached to he essentia! to ihe welfare of the country. We apply this remark to prominent questions of General and State policy which may come before the Legislature. So tar as local matters are con cerned—personal rights or interests are in volved—or county alterations or arrange ments contemplated or desired—we presume they will know’ no party —nor exhibit any partiality whether friend or foe be benefiited or injured by their course. That the Whig ticket will be actuated by views less manly we do not believe or assert, notwithstanding the perversion by the Enquirer of our remark that certain individuals had been “selected to represent the interests of the Democratic par ty of Muscogee county in the next Legisla ture of Georgia”—to the exclusion of a pro per regard for the personal and individual in terests of a portion of the r constituents, op posed to them on questions of general policy. Tiie Oglethorpe House. —This extensive establishment is now in the hands of Wil liam B. Phillips, the former proprietor, Mr. Bedell, having relinquished it. Although as the superintendant of a Public House, Air. Bedell was energetic, polite and attentive, yet in all these qualities the present Proprietor is equally distinguished, and we have no doubt the Establishment will, under its new head, sustain its former high reputation. Washington—Congress. No measure of importance lias passed either House of Congress since the passage of the Lard Bill in the Senate. The Fiscal Corporation Bill yet remains in the hands of the Senate—and little doubt seems entertained, if it pass lhat body, of its disapproval by the Bresident. Nothing definite is yet known as to ihe period when Congress will adjourn. Giovanni. —So far as we questioned Ihe correctness and propriety of the opinions and statements of “ Giovanni ” in his first article, we shall endeavor next week to show wherein, in our view, he stated the case too strongly. Other matters of more immediate importance, at this particular time, have delayed our in tended notice of the positions of “ Giovanni,” and the few remarks vve designed to make respecting them. We neither designed nor “ threatened ” any “elaborate and demolishing review.” The Enquirer avoids or mistakes the issue respecting the lev Revenue Bill. While re-adjusting the tariff law, why was not re gard had to those articles of prime necessity which paid a very high duty, above 29 per cent, ad valorem, and why were not suita ble efforts made to lessen the duty on them ? This was practicable as a motion to that effect was made, and its adoption rejected. As we have said in another place to-day, the Georgia Delegation (all of whom voted for it with the exception of Alessrs. Alford and Foster) ought, under any circumstances, to have voted against the Revenue 8.1 l as it passed the House—because, by so doing, the Distribution Bill would not have passed the Senate, and the deficit, whatever existed, would have been supplied from the proceeds of the sales of the Public Lands. Here is one great error which ought to, and could have been avoided by the Georgia Delegation, and its failure to avail itself of this means to kill the Distribution Bill, to which it professed by its votes to be opposed, subjects it to the im putation of allying itself to the fortunes of the Whig party, without regard to its measures. Air. Alford is found voting boldly in opposi tion to the bill, and there is reason to believe that Col. Foster (from his .firmness and inde pendence on the Bank question) if present, would have gone with Col. Alford. However this may be, Mr. Alford voted against the Revenue Bill, and we ask the Enquirer to ex plain the reason of his vote, if it be indeed a fact that it is a mere Revenue Bill and designed to raise no more than the wants of the Gov ernment absolutely require. Is not Mr. Al ford as sensible of the honor of the Govern ment, and the necessity of preserving its credit, as any member of the Georgia Delegation ?- How then happened he to be in opposition to his colleagues ? The Enquirer can only ex plain it by supposing Mr. Altord to be igno rant of the financial condition of the Govern ment, or willing to violate its plighted faith, neither of which it will, we presume, impute to him. The reason for the vote of Mr. Alford is to be found, we think, in various of his speeches during the present extra session of Congress. He has boldly repudiated several of the meas ures of the Whig party, and pronounced their tendency to be to consolidation and federalism lie has been less party bound than D s col leagues ; more disposed to give to passing and contemplated movements their true name and intent. It. is true Mr. Alford loses no oppor tunity to assail the Democrats. Be it so. 110 is not indisposed to tell the truth on his ow n party, and expose the impiopriety of its acts, and as lie can have no apparent motive to a bandon his party, we should suppose his state ments were worthy of belief. We understand the Enquirer to say that “all that is wanted” is a bank ol issue; with power to deal in exchanges; with blanches to be voluntarily adopted by the States. Do we understand the Enquirer aright. Extract from the speech of Mr. Calhoun of South Carolina, delivered in the Senate of U. States, June 21, IS4T Air. Calhoun said, that it was impossible for any one to read the report ot the Secretary, without being struck with the solicitude ap parent throughout, to make out a deficit in the revenue of the year. So great was Ii ssi lici tude, that it betrayed him into errors, which have been so fully exposed by the two Sena tors who preceded me on the same side, that I do nor Jeel called on to add a word to what they have said in that respect. \\ hat I pro pose, in connection with what may be called the financial part of the report is to show, by a brief and condensed statement, what would be the deficit at the end of the year, according to the data furnished by the Secretary him self, collected from different portions ol itis re port, but all from himself, without adding an estimate or a figure of my own. According, then, to Ins own data, the avail able means of the Treasury for the year, in cluding the balance at tiie end ot the last year, Treasury notes authorized to be issued during the year, and the revenue lroiu all source.-, would be $24,942,935. This is made up, first, of the sum ol $4,212,540, the actual receipts into the Treasury irom the beginning of the year to tiie 4th of March, including the issue of Treasury notes and the .balance on hand at the commencement of the year, and m the next of the sum of $20,750,395, at which he estimates the receipts irom the 4th of March to the end of the year, including Treasury notes authorized to lie issued. Both items are taken from the report, without the alteratiin ot figure. Cents are emitted, as they are th oagi.oul my statement- These together make the sum i $24,042,935. winch, as l have s a’.e-J, is the aggregate of the available means oi the year, according lo the data ol the Secretary. The actual demand on the Treasury for the year will bo, on his data, $58,012,7/0. — 1 have obtained the result, first, from his statement ot the annual appropriations (ho . calls them definite appropriations) made du ring t'-e last Session, which ho puts down at $17,987,981 ; next, Irom the permanent ap -1 pro| rat ions payable in the veer, $1,781,115, ■ followed by Tieasury notes, which he esti . mates win fall due in the year, or come into Ihe Treasury in payment of duties, making $5,283,831. These items are all taken from ’ 12th page Treasury report, House docu ’ men". An the table containing them, the iiem of Treasury notes is put down at $5,431,421 ; but there is a note appended, which give the - items that compose it, which, strange to, tell.- - gives not that sum, but the one 1 have stated and is so footed, making a difference of nearly $150,099. I have taken the one 1 have, as 1 find the items that compose it, stated in ’ another part of the report, according with : those that, give that sum. The next and last i sum that composes the items, winch makes up, according to the data o! the Secretary the demands on the Treasury for the year, is. one of $3,009,849. the estimated diiierence between the outstanding appropn tionsal. the end of this year, compared wiin those of the last year. Tins sum i have obta.ned in the following manner. ‘The Secretary estimates ilie demands on tiro Treasury, In us the 4;h ot March to the end of the year, at $33,429,ti1t* and that which will he required ion ire ser vice of the year, from the 4;h of Alarchtothe end at $24,210,009. ‘The difference between them ($9,290,910) would, of course, be the amount of the outstanding appropriations, ac cording to his estimate, at me end of iliis year. Take that .-u ti irom the sum of $12,- 300,205, which he stall s to he the amount of the outstanding appr pria'ions, at the end of last year (see 12 h page ol report,) and the difi-rence will give the amount 1 have sated, as chargeable to the disbursements of the year, and all the items added, the aggregate amount of those disbursements according to the Secratary’s own data. (Subtract the ag gregate means of Ihe year ($<M,912,')30) from the aggregate demands, ($28,021,770)* and the deficit would be s3,ot 9,841. But from this, two ilems must be clear I }’ deducted. First, the omission in stating, a mong the means of the year, the item of $215,151 of money in the mints belonging to ilie ‘Treasury. Next, an overcharge in the disbursements of $1,110,011 of ‘Treasury notes, issued under the act 1840, between the 31st December, 1819, and 4th oi March, 18-1 h and which will not fall due till next }C-ai. Both the Sen aims who preceded me, have clear y shown th s to be an overcharge. — 1 will not attem(t to add to their proof.— These two items added make $1,325,702, and tba'sum subtracted from $3,009,841 gives, for the deficit, according to the Secretary’s own data, at the end of tiie year, the sum of $1,713,970. He es imam- it at $10,088,215, making an over estimate in his own data of $14,039,03(5. It is true that he makes out his deficit in part, by adding items that have have not been, and a kirge part of them probably will not be appropriated by Congress; bin when we speak of deficits, wp refer to the excess of the au thorized demands on the Treasury over its available means, not such demands as the Secretary, or any one else, may think ought to be authorized by law. In that sense there would be no limitation in the deficit. Among items of this kind the Secretary has added one of four millions of dollars, lo constitute a s'andmgdeposit in the Treasury, that is, the projected Bank ; and this he pro poses to borrow, say at six per cent, which would make an annual charge of $240,000 ou the people, that the Bank may have the use of it for nothing] I, for one, shall never agree to such a measure. If the Treasury is to be guarded against contingency of an acci dental deficit, a vote of credit authorising the temporary use of Treasury notes, or, as called in England, exchequer bills, would be greatly preferable. There is another large item of nearly a million and a half, in addition to what has already been voted this year for for tifications, to which i shall not give rny as sent. The great changes lhat steam has made,and the still greaertthat it must make in the operations of war on the ocean, Require that the whole subject of the defence of our maritime frontier should he reviwed by able and skilful officers, before we proceed any further in the present system of fortifications. Much that has been done, anu what is pro posed to be done, will prove, on such view, to be wholly useless—money thrown away. I say nothing of the other items of the kind ; they are small. Nor will I undertake to show what will be the actual deficit, if any.—■ It would be too hazardous. Tiie Secretary can make it more or less, or nothing at all, at his pleas:ure. But if he should chcose to leave the outstanding appropriations as they stood last year, there would be in the Treasury u considerable surplus, instead of a deficit. On the contrary, if he should undertake to spend the whole, he may increase the deficit by ma ny millions. We know what his desire is, and it remains to be seen what he,will do.