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= ——' ~ ' - ' - ------ --’-t-i-'a 4§ IIIIJ I GeorffiaffiStatesmass. " / TERMS,—S3 PER ANNUM, IN ADVANCE,] By BURRITT & MEACHAM, GEORGIA STATESMAN. IS PUBLISHED EVERT TUESDAY IN MILLEDGEVILLE, GJI. On TVayne-Strcet, opposite the Eagle Hotel. ICP Terms... . Three Dollars in advance, or Four Dollars if not paid in six months.— No subscription received for less than one year, unless the money is paid in advance, snd no paper discontinued till all arrearages .m subscription and advertisements are paid. N. u.—Notice of the sales of land and ne groes, by Administrators, Executors, or Guar dians’ must be published sixty days previous to the day of sale. The sale of*personal property in like man ner must lie published forty days previous to the day of sale. . Notice that application will be made to the Court of Ordinary for leave to sell land, must be published nine months. Notice that application has been made for Letters of Administration, must also be pub lished forty days. *** All letters directed to the Editors on business relating to the Office, must be post paid MR. POWELL'S EXPOSITION. [Concluded from our last.] Mr. BURTONS’ Examination. Mr. Burton states, l)r. West in formed him yesterday, between 12 and one o’clock, that the first para graph of Mr Kimberly’s private let ter was published to counteract the second paragraph of Messrs Spalding and Troup’s litter. JUDGE CLAYTON’S Testimony. On the morning that the commit tee on Banks made, I believe, a par tial report and requested to have certain documents printed, standing near the fire, Mr. I’owcll requested me to ask Doct Daniel if he wished Mr. Spalding’s letter published, 1 did su, and received for answer, that as it was officially addressed to the Governor, it ought to be published— I informed Mr. Powell of this reply, and he said he would publish Ihe let ter or letters from the President of of the Bank also; without seeming or knowing what any of the letters contained, l turned off and there the matter ended.—This was early in the morning, ait r the business of the Senate commenced, and just after the report above alluded to was made. The committee furnished to day, the following as additional to the former testimony : Mr. Holt being called again, states that when Mr Scarlett gave Mr Powell the document, Mr. Powell took it and appeared to trace with his eyes the page containing a por tion of the Private letter from Mr. Kimberly, and then turned over Ihe leaf and appeared to finish reading the letter—Mr. Holt cannot say positively that Mr. Powell did read the letter, because he did not hear him read any thing, but thought Mr. Powell read it. Monday, 11th Dec. 1826. On motion of Mr. Powell, of M’- Intosh. Resolved, That the official letter of Ansou Kimberly, the President of the Darien Bank, as communicated to the Senate on Thursday last, be placed on the Journal of the Senate. And be it further Resolved, That the printed documents alluded to by Win. C. Daniel, when he moved for the appointment of a committee to enquire into the cause of their print ing, with power to send for persons and papers, be also placed on the journal of Senate. The official letter of A. Kimberly. Darien, 23th Nov. 1826 Ai.len B. Powell, Esq. 'Sir—By a resolution of Directors of the Darien Bank, I am directed to forward to the Delegation from this county, a detailed statement made by a committee of the Bank ofits pre sent situation, to be made use of as the delegation may think most pro per in aid of the interests of the In stitution, and I now inclose said statement with the resolution ap pointing said committee, and the proceedings on accepting their re report—Dr. Troup one of the com mittee having differed with the majority in the amount of loss, has °ot signed the report. Your obt. servt. (Signed) ANSON KIMBERLY. Prcst. ' The letter of Mr. Harmon upon ine request ol Mr. Powell, was also journalized as follows : MiLLEnGEViLLE.Dec.iI, 1826 Allen B. Powell, Esq. Dear Sir— At your instance, ■md particular request this morning, 1 feel it my duty to state, that in all the interviews which took place be tween Dr. West and myself, two of the sub-committee, on the Darien Bank, you invariably abstained from mterferring in our discussions ; and " " en lno|, o than once asked by ine to give some information on the sub jeet. you declined doing so and* re tired from the room. * Yours truly, - Wm. N HARMAN Printed Additional Reports. [A] Documents relating to the Darien Dank. Darien, November 13th, 1826. ARen B. Powell, Esq. Sir —Since writing you by the last mail, nothing special has occurred.— Accompanying this, you will have the Report of the Committee ap pointed to give a detailed state ment of the situation of the Darien Bauk; this varies some from my statement, but not materially. The Committee make the losses some thing larger than 1 did, and as this did not accord with the views and feelings of Mr. Spalding, who I sup pose, had calculated on their aid in keeping the public in the dark, he and Dr. Troup withdrew from the Board, and although the Doctor a greed pretty much with the balance of the Committee in the detailed statement made out of bad debts, still when the result appeared so dif ferent from his calculation, he thot’ proper to dissent and has not signed the Report—A copy of the resolu tion appointing the Committee, and of the proceedings on Thursday ac company the Report—On that day much warmth and irritation was ex hibited, and although the majority was a large one, still as Mr. Spald ing could not drive them into a course of deception, he became much irritated anil finally left us in a rage—l'heir leaving the Board, you will find mentioned on the Min utes, hut in as modest a way as pos sible, it not being our wish to make the breach wider than it now is, not withstanding their conduct is such that they ought not to receive any indulgence. The Report with all the proceedings, will be spread up on the Minutes, to enable our suc cessors to decide, whether we have acted in this business with&fairnes.- lowurd the Institution and public, or not Tn addition to the other papers, vou will find the Report offered by i)r. i roup which was rejected, to put you hi possession of the views ol all the Board. Since the Report wa« made out returns have been ob tained from the Branches, which show a farther reduction in the amount afloat, ol more than ten thou sand dollars. I c rtainly regret the change in our Legislature, more practicularly as it will put at hazard the now fair prospects of the Bank of Darien—l cannot however think, that the ma jority, merely for party pin poses, can put at hazard the interests of the Stale in his Institution, which they certainly will do if they now meddle with it. Your obedient servant, ANSON KIMBERLY. BANK OF DARIEN, ) October 31st 1826. \ 1 he following Resolution offered by Major Wood, was read and agreed to. “Resolved, That a Committee be appointed to make a Special Report, shewing in detail, the situation of the Bank in relation to its issues, debts, and other matters connected with its concerns, with a view to present to the Legislature, the means and resources ot this Institution to pay its debts, and in time, to go into ac tive and efficient operation.” Messrs. Atkinson, Wood, and Troup were appointed the Commit tee. Extract from the . Minutes, J. G. BELL, Teller. 'P.tesday .Morning, Nov. 7th, 1826. “Reports from Dr. Troup and Maj. Wood, two of the Committee appointed to make a Special Report, were submitted to the Board, and a motion wrs made and seconded, that Dr. Troup’s Report be adopt ed. The ayes and nays were taken, and the result was as follows: Ayes—Messrs. Spalding, Kell and Trcup. Nays—Ylessrs Dunham. Wood, King, Atkinson, and Smith. Dr. Troup then offered tho fol lowing Resolution, which was a greed to: “Rtsolved, That tho consolidated account with the detailed Report, accompanied by explanatory re marks, be recommitted to the same Committee for revisal and consoli dation, and that they report at an extra meeting of the Board, to be held on Thursday next at 12 o’- clock.” Extract from the Minutes. I J. G. BELL, Teller. Hae tibierunt artes, pacisquc imponcre morem, parcerc subjects et dcbcilare superb os.—Virgil. Milledgeville, Tuesday, January 16, 1527. Ihnrsday Morning, Nov. 9th, 1826. The Directors met. Present— Mr. KIMBERLY, President. WOOD, SMITH, SPALDING, ATKINSON, TROUP, DUNHAM. Absent— Mr. POWELL, KING, KELL, Agreeable to Resolution of the last meeting of the Board, the Di rectors met this day for the purpose of adopting a Report, to be submit ted to the Legislature, shewing the present state of the Bank of Dari, en—When Major Wood offered the following resolution, which was a greed to by a majority of the mem bers present:— '"Resolved, That in the investiga tion now before the Board it is con sidered that the Bank in its calcula tion, state the Stock at torty-tive dollars the share, it having been ta ken from persons in payment of their claims, who were considered as un able to pay the same, except by ta king their Stock at sixty five dol lars per share.” When Maj. Wood offered the res olution to take up the Report of the Committee, which -was agreed to; aud after considerable debate, Messrs Spalding and Troup retired; when the question was taken on ac cepting the Report of the Commit tee, and unanimously agreed to. Maj. Wood then offered the fol lowing resolution, which was like wise agreed to:— “Resolved, That the Report of the Committee detailing the affairs of the Bunk, be transmitted to our Sen ators and Representatives, to either lay before the present Legislature, or otherwise, as they in their judg ment may deem meet. Extract from the Minutes. J. G. BELL, Teller. —.c^o— BAJVA REPORT. The Committee to whom was re terred the Resolution of the Direct ors oi the Bank ot Darien to Report on the state of the Bank, do RE PORT: That they have given the sub ject as full an investigation as the time would admit; and for the more perfect understanding of the affairs of the Bank in detail they have con sidered them under the following heads:—lst. Issues —2d. Its Funds i —3d. Its economy —4th. Its meas ures—and sth. Its stock. Ist. As to its Issues. It appears that the Bank and its Branches have put notes into circulation previous to the year 1826, as follows— Mother Bank, $1,020,363 Milledgeville Br. 732,000 Marion B. now Macon 95,000 Making a total of 1,856,363 Os the above amount there had been re deemed previous to Ist Jan. 1826, $723,390 During lust 10 m’ths 350,973 Leaving this sum yet in circulation, ,$782,000 To reduce and pay this, we proceed next to shew the resources of the Bank, as follows ; Ist. Its Funds. Which we shall class un der three heads, good, doubtful, and bad, con tracted as follows— At the Mother Bank debts due, good, $438,679 To which may be added, back interest due not yet paid 30,000 Cash on hand, and bills of Ex. 28,672 At the Branch at M illetlgcville, 480,000 do do Marion, now Macon 95,000 Amount and value of real estate 89,000 $1,161,351 2d. Doubtful. From which a part, if not the whole may be recovered. At the Mother Bank, $80,710 do. Branch in Milledgeville, 10,000 do. do. in Macon, 5,000 $95,710 3d. Bad. Even for some of these a small per centage may yet be obtained. At the Mother Bank, $255,730 do. Branch in Milledgeville, 10,000 do. do. Marion, now Macon, 35,000 $300,730 The real estate given as security alone, and in other instances, as additional, is— At the Mother Bank, $189,385 do. Branch in Milledgeville, not known, do. do. Macon, do. Town and City property, either owned or under mortgage to the Bank, situate as follows: In the City of Savannah, $35,000 Do. of Darien, 131,000 Elsewhere, 23,385 $189,385 3d. Economy. The expenses of the Bank ami ils Branches formerly, were for salaries as follows : At the Mother Bank, * $7,100 do. Br. in Milledgeville, 4,000 do. Marion, now Macon. 2,000 ’ These have been reduced as follows : At the Mother Bank, $ 4,200 do. Br. Milledgeville, 2,500 do. Macon, 1,600 Difference, $4,500 4th. Measures. A call was made payable in the winter of 1825-6, of 30per cent, at the Mother Bank, on which there was paid at the rate of 20 per cent, on the whole debt, or $213,000 At the Milledgeville Branch the call amounted ta 36 per cent on their amount, or the sum of 239,000 At the Macon Branch, to about 20 per cent, or 39,000 Debts not running or continued, to be discounted agreeable to the rules of the Bank, were ordered to be sued ; of this amount, there is in suit and in judgement, at the Mother Bank, $450,000 At the Milledgeville Branch at this time not known. The same remark applies to the branch at Macon. Ano the - call has been made of 30 per cent, by the Afctlicr Bank, payable at three periods of 60 tkys each, commencing the first of January aext. sth. Slick. Tbe amount paid in ly the State, sixty-five per -cnt. or $325,000 Amountpaidinby Stockholders, 326,175 $651,175 The Bank has made, 12 divi dend!, or per eent. amount ing to 297,861 The Bsnk has been obliged to take of its Stock in payment of bad and doubtful debts, to the amount of 85,279 There is hypothecated stock which it is believed will fall into the hands of tbe Bank, and unredeemed, of about 60.000 $145,279 Stockholders amount paid in, 326,175 This will be the amount due the Stockholders, 180,896 And reduces the amount stock debts to 565,996 All of which are respectfully submitted, by JACOB WOOD, ) „ GEO. ATKINSON, \ Comm ’ Bank of Darien, Nov. 9, 1826. REPORT Offered by Dr.. Troup, and rejected. The Committee appointed to ex amin into, and make a Report of the actual state of the Bank, for the purpose of being laid before the Le gislature, bog leave to submit the lohowingas the result of their inves tigation:— In the statement submitted by your Committee, it will be seen, that the condition of the Bank varies materially from the statement for warded by the President to the Go vernor. This difference is chiefly owing to the omission, on the part of the President, to credit the Bank wall the Stock it has received in payment of debts, in net including the back interest due on good notes, and considering as bad, what your Committee believe to be ultimate ly good, the Louisiana Claim.— These several items make an ag gregate amount of dollars, which placed to the credit side of the Bank, will leave a deficit of dollars. Ii estimating the loss the Bank will sustain from bad debts, it will be perceived, that the Commit tee enumerate many as such, from which something will bo realized eventually. So in relation to the property owned by the Bank. In estimating this item, your Commit tee have allowed upwards of 50 per cent, for the depreciation of proper ty of every description which under the present depression, is deemed liberal, and which, under a more fortunate state of things, such as a revival of trade in Darien, would be considered not only ample to secure the Bank from loss, but to leave it a considerable profit. Darien, Nov. 9th, 1826. Side of the Eank ts Darien, on Thursday the 9th November, 1526. nno.u Dr. To Bank notes issued, 784,736 “ Am’t on hand in Darien, 2,753 “ Am’t at Offices, “ «10. in circulation, 781,983 “ Profit & Loss, 218,015 56 “ Cap. Stock (p’d in) 651,175 “ Diviu’ns No 1 a 12 2,502 55 “ Discount Account, 22,242 82 “ Monies on deposite 6,000 “ do. do. on ac’t bills & notes dis counted, 48,353 69 $1,733,02562 CV. By Cash Ballancc, 15,737 69 “ composed of specie 12,984 69 “ “ Darien Bills 2,753 00 15,737 C 9 “ Office D. & D. U. States, N. York, 200 50 “ office D.&.1). Macon 134,799 83 “ “ “ “ Mil- Icdgctillc, 511,02617 645,826 02 “ St. Bank Savannah 2,861 94 “ Bills of Ex. do. 10,954 00 “ “ “ Augusta 27122 * “ “ Marion 1,30000 “ •• “ Milledgv’l 1,140 98 Vol. 11. No. 2. —Whole No. LIV. “ Bills & Notes disc. 850,61148 “ Tb’s. Wilson & Cos. (London,) 63 77 “ Bank Mouse & Lot, 10,00000 “ Darien E.S.S. Mill 8,635 60 “ Bond & Mortgages, 62,905 33 “ Stock Account 83,95917 “ Deduct Dividends, 6,842 75 77,116 42 “ Expenses&salaries 3,71217 “ Protest account, 700 00 $1,733,025 62 E. 9. BEES, Cashier. Per J. G. BELL, TeUer. Bank of Darien, Nov. 9, 1826. ' DARIEN, Nov, 9th, 1826. To llis Excellency G. M. Troup: The Report forwarded on to you by Mr. Kimberly, tbe President of the Bank, was sent on without be ing submitted to the Board of Di rection—lt is to be received, there fore, simply on the responsibility of Mr. Kimberly. When this was made known, a Committee was ap pointed to examine into the state of the Institution, for the purposo of as certaining its real condition. I he Committee charged with this duty, could not agree in their Re port—Subsequently, a bare majority of the Board have made up n Report to be transmitted to the Representa tives of this county, to be iued by them as they may think meet. Be lieving both these Reports calcula ted to injure the reputation of the Bank, and believing as we do, that the assets of the- Bank, if prudently collected, will refund every dollar of the capital originally invested, we transmit to your Excellency a re newed statement of the Bank and its condition, prepared by us with great care, and with the aid of the only Officer that has been left us in the Institution. Thejirincipal cause, of difference, are in three items:— first—The Bank owns a large portion of its own stock, which was taken for debts that were otherwise doubtful. As the slock at par is a debt against the Bank at £65 per share, we claim the stock held by the Bank, to be a credit at £65 per share. This item will make a dif ference of about thirty thousand dol lars. Second—There is a debt due the Bank on judgment, against Messrs. J. &. C. Bolton of New York, for seventy-five thousand dollars, Time was given to the Messrs. Bolton’s by this Institution, in common with all the other Institutions of the State, for debts of the same charac ter. In addition to this judgment, we hold as collateral security for its payment, bonds and mortgages upon real and personal estate of Col. Stephen Proctor of Louisiana, to the full amount. Yfc conscientiously believe, that between our collateral securities and our judgements n gainst Messrs. Bolton’s, the Bank will not lose one dollar cf this debt. Thirdly—Upon the great mass of debt now in judgment, we put down $50,000 for interest due. These three items, alone, not one of which were admitted by Mr. Kimberly, more than balance the estimated loss made by him, in his statement Submitting this letter and its con tents, to be used by your Excellency in any manner you may think best for the public good. We remain respectfully, your very obedient servants. T. SPALDING,’ JAMES TROUP. I am perfectly satisfied with the contents of the above letter. (Signed) ANSON KIMBERLY. Statement of Debts due by the Bank of Darien, November 9, 1826. Due for n’ts in circulat 781,99.™ 00 “ “ Cap. Stock p’d. 651,1 To 00 Deduct am't p’d off, 93,642 00 “ Monies on deposite 6,00000 “ “ •' on ac’t bills and notes, 43,333 CO “ Dividends unpaid, 2,50200 “ Salaries Stcxpc.nces 3,71217 $ 1,395,083 36 To ballance in favor of hank, 6,22060 $1,101,304 46 Statement of Debts due to the Bank of Darien November 9,1826. By Specie in Vault, 12,934 69 Bank U. S. N. York, 200 50 Offices Bank, Darien 6)5,826 02 Deduct losses at do. 70,000 00 State Bank, Savannah, 2,861 9-1 Bills F.xch. do. 10,954 00 “ “ Augusta, 97122 “ “ Marion, 1,30000 “ , “ Millcdgus'l 1,140 38 13,66620 Deduet loesses on do. n,0it920 [Oli $4 iF NOT P.AID IN SIX MONTHS. Bills Exch. N. lark, *40,98850 Bills anil Notes disc. 850,6X1 48 Deduct this am’t to be charged to bonds and mortgages, 116,48000 734,131 48 Deduct loss on this am’t 150,738 00 Bonds and Mortgages 62,905 33 Add ain’t from bills & notes, 116,48000 do. for Bank House 10,000 00 189,385 33 Deduct depreciation on this account, 100.000 00 89,385 33 Darien E. S. S. Mill, 8,635 60 Deduct loss ou do. 5,635 60 This am’t due for back intercston notes con sidered good, 50,000000 1,366,30446 [35,000 00 $1,401,30445 By balance in favor ol' Bank, 6,22060 * 4,988 50. This is part of llie judg ment of seventy-five thousand dollars held bv the Bank against J. &. C. Bolton, secured by a mortgage on real estate, of double its value. f The remaining thirty-five thousand dollars the bank look to Messrs. J. & C. Bol ton for, who they believe are quite responsible. (Additional Testimony.) Mr. ROBt. FREEMANS, Evidence. On the morning that the printed documents relating to ihe Darien Bank, was laid on the desks in the House of Representatives, I was sitting at one of the desks with Dr West, ho took one of the reports and apparently was reading it ; I took up one and was reading the let ter from Anson Kimberly to Alien B. Powell Esq Dr. West then turned to me, and said that the letter I was then reading (being the ono from Kimberly to Powell) was not wiltci* for publication and that it would not have been published at all, only for the purpose of rebutting (lie report of T. Spalding, and James Troup, and the intention es making it publi": and to counteract an illiberal remark made in the report of Spalding and Troup, at the same time pointing out to me the latter part of 2d. Sec tion of said report. Mr. Feerman vstates —it was at Dr Wests desk the above conver sation took place—he also further states that ho (Dr. West) then said he regretted that the letter had been published. JOHN KENNONS, Testimony. On of List week I observed to Dr. West that Mr. Kimberly had treated the Legislature indeconrsly in the letter that he had adressed to Mr. A. B. Powell, he observed that. Mr. Kimberly never intended that, letter for publication, and lie further observed that he desired Mr. Powell not to publish it or regretted that ho had published it, the strong bias of my mind is in favor of his having said that lie desired Powell not to publish Kimberly’s letter. Office of Secretary, of the Senate. Milledgeville: 2Jil Dec. 1826. I Certify ihe foregoing con tains true Extracts from the Jouraul of the Senate. Wm. Y. IIANNSELL, Secretary. The following Ucsc:i|i6oii of Inc ‘ Pilgrims Anniversary,’ by Mr. Noah is bcautifnl as it is just. But the orator of the day Mr. F so far o’er step’d the modesty of nature; as to call forth a severe rebuke from Mr. N.— The Pilgrims. —The anniverary cf tho landing of “ the Pilgrims,” at Ply mouth rock, was celebrated on Fri day last, by the New-Englanders of (his city, with a becoming reverence. We attended tho exercises in tho Brick Church, and intended to say a word or two about the oration, after we shall have briefly expressed our respect for the Pilgrims themselves It has been said a thousand times, that they were a stern and highheart ed band, who fled from the despotism of the Old World to find an asylum and Independence in the New.— Theirs was an intense and abiding love of freedom, which admitted neither of compromise nor abeyance They were resolved to submit to no outward control except that of the law, and they were enlightened e nough to know that laws, to be bind ing, must originate with themselvel- They became a law unto themsel ves. They imposed upon their pas sions, feelings and movements, the most inflexible restrictions. The; were a people of pure will. In Eng land tho pilgrims, and their portal, brethren, were above all temptation and all fear Over them, power wa:> as feeble as persuasion, With a sler ling good sense, they remained uu comiiiUuHi^thocorceou^bribe^