Vol. 3. ~ T IIE* © !!' rTs I? 15 N SPY 43 EDITED AND PUBLISHED EVERY TUESDAY MORNING, BY 3 ATfl M 3 H l . (C i\Y, TEStnS: Three Dollars per annum, payable in ad vance, or Three Dollars and t’ if r\ Cents at the expiration of the year— Two Dollars for six months. 'X DVERTISEMF. NTS tvill be COMpicUOUSI V 1/1- ttrted at Seventy-Five Cents per square for the first insertion, and Fifty Cents for each subsequent insertion. —Those intended to be limited, must have the number of inser tions writ ten on then, or they will be insert ed tilt forbid, and ch trged accordingly. All Letters to the Editor must be post paid. directions: Sales of Land or Negroes, by Administra tors, Executors, or Guardians, arc required, by ‘law, to be held, on the first Tuesday in the Vla&th. h't-s-y ' * f “virnJ four irt-Jie afternoon, at the Court -1 louse ts the County in which the property is situate. Notice of these sales mart be given in a public ■gazette, sixty da js previous to the day ofs.de. Notice of the sale of Prsonal properly, must be given in like manner, forty days previous to the day of sale. Notice to the debtors and creditors of an es tate, must be published for forty days. Notice that appli alion wdl.bg made to the ■Court of Ordinary for lew, a> sell land or negroes, must he published Jor Four Months. Notice tint Application will be made for Letters of Administration, must be publish'd ‘Thirty days, and of Litters of Dismission, •Six Months fSISCELL INE©_SLJS._ From the T xas Telegraph. Summary <Of the most remarkable events of Texas, du ring her struggle for Independence, since the year 1827. In Nacogdoches, 1827, the premature at tempt was made by Ook. Edwards and a lew followers, to convert Texas into an indepen dent nation, under the name of Fredonia Republic, which not receiving the support of 'citizens in general, was soon put down by the united Mexican and Texian authorities. In Nacogdoches, 2d, August, 1827. Rat tle of that name between the Mexican Col. Bon Je de las Piedrat, iu which the latter was defeated. Object, the removal ol the military, by whom tli-e inhabitants consider ed themselves aggrieved. Number of the Mexicans 375, of tlie Texiaris2so. In June 26tb, 1832, the Curt ot \ alasco, 'commanded tty t ot. Don Domingo i garte chea, was taken by the Texians under John Austin. Number of the Mexican garrison 173, of the besiegers 183. In June, 1835, the Mexican garrison of Anahuac, under Capt. Tetioria, with 30 men, surrendered to the Texians under Col. Travis. October the Ist, 1835. Rout at Gonzales <of a detachment of cavalry from the Mexican garrison at Bexar. October 9th, 1835. Surprise and capture Ttf Goliad, by Capt. Collinswortlt, with fifty men, the Mexican garrison under Lieut. Col* •Sandoval. October the 23th, 1835. Battle of Concep tion, near Bexar, in which the Mexicans, 400 strong, were defeated with considerable "toss l>y Colonels Bowie and Fannin, with 92 men. Nov. the 3d. Capture of Lapantitlan ou "the river Neuce-s, by Adjutant Westover. Nov. Bth, 1835. The Grass fight near Bexar, where the Mexicans were compelled to retire under cover of the attillety of the town. Mexicans numbered from 300 to 400; the Texians about 200. December the 9th, 1835. Termination of the first campaign, by the assault of San Antonio de Bexar, when 1,300 Mexicans sur rendered to the Texians; two days previous, Col. Ugnrteehea had introduced into the fort, Alamo, 600 men as reinforcement to Gen. Coss, commander of the Mexican forces. Second Campaign. January, 1836. Expedition against Meta tiloras, which proved a total failute on the part of the Texians in the capture and de struction of the small parties engaged iu it, •commanded by Johnson, Grant, &c. February 21, 1836. The town of Bexar taken by the Texians, when the Mexican garrison retired into the Alamo. March 6th, 1836. Assault and storming the Alamo by Santa Anna and a numerous tarmy of Mexicans, when the garrison of that ffort was p'tft to the sword. March the 9lh, 1836. First of the “.Mis sion del Refugio,” between Capt. King and 20 tnen, and a superior force of the enemy, when the former gained the advantage. March 10th, 1836. Retreat of Gen. Sam uel Houston from Gonzales at the time of the burning of that (won. March 10th, 1836. Second fight of the Mission del Refugio, when Col. Ward at tacked and drove back a large foice of .Mexi cans. March 11th (at night.) 1836. Retreat of Col. Ward, and his detachment from the Re fugio. being surrounded by an overwhelming force of the enemy; his final surrender [24th] and [2Btb] massacre with Col. Fannin and his division. March 19th, 1836. Defeat of Col. Fannin by the Mexicans, under Gen. Urrca; their surrender on terms of capitulation, which Were perfidiously violated, and Fauniu and Li Z EBFIS Tl* .I.VD r.V/ ©wY, .V 0 IS* -Y kI IS M2l’ 12 IS , ©.VF.I .V II I .l* &F I * .1 11 o-i —t* F.” -Ifiiv ■ wtfj j ; on that occasion made their escape. March 27th, 1833. Retreat of Gen. Satn- j tie! Houston from the Colorado. March 31. IS3G. The town of San Felipe de Austin burned by the Texians. April 16th, 1636. Harrisburg burned; Xpw Washington, on the 20th by the Mexi cans. April 21st, IB3G. The decisive battle of : San Jacinto, when the division of the Mexi- | can army commanded by Santa Anna in petson, was completely discomfited and him self made prisoner, notwithstanding Gen. ; Cos had brought to his aid, the previous night, a reinfoicetnentof 500 men. General Houston commanded the Texians. April 21$t, 183 i. Retreat ofall the Mexi can forces beyond the lioutier of'iVxas. The victory of San Jacinto concludes the A w ) J . * * anew epoch in he.- history may be dated.— After that the turmoil and ravages of the war weie succeeded by a disposition to establish a government, and by the return of the families to their homes. The names of Aaron Burr and Heyden Edwards, Sen., deserve a place in the his tory of our country, because they were the original, though unsuccessful projectors of Mexican Independence. The capture of Cornwallis and his army in the IT.l T . States, put the seal to the political emancipation of that Republic; and from that of Santa Anna by the Texians, vve confident ly expect the like result. Dr. Sleigh vs. Bifidelity. At a crowded meeting, held m Boyleston Dali, in this city, on the 19lh December, i when Dr. Sleigh concluded his defence of the | truth of Divine Revelation, N lhe foliowing res j olulions were carried with enthusiastic ap- I plattse:— 1. Unsolved, As the sense of this meeting, > that Dr. SI eigh, of Philadelphia, who has this evening concluded his sixth Lecture on , the evidences of the Christian religion, is eu- J titled to the heart}’ thanks of the friends of i the Bible, for the able and triumphant man ner in which he has presented the claims of that sacred volume to our belief, as contain ing a revelation from God ; and also, for the consummate ability with which he has vin dicated the holy character of our Heavenly Father, from the foul aspersions east on it by aiicientand modern Infidels. Carried unan imously. 2. llesotved. As the sense of this meeting, that we consider the character of Dr. Sleigh has been most grossly slandered by the Jufi | dels of New York, arid that we perceive no reason to doubt the .ample testimonials in his possession, which prove him at once an hon orable man and an exemplary Christian.— Carried unanimously. 3. Resolved, That we view, with unquali fied indignation, the attempt of Sylvester | Graham, on the last evening, to tarnish the { honor of Dr. Sleigh, as a gentleman and a 'Christian; and that he (Graham,) owes an apology to Dr. Sleigh and the audience, for I his interruption of the regular exercises of j t hut occasion. Carried almost unanimously. 4. Resolved, i hat too manner in which ! Dr. Sleigh has presented himself before this [ community, entitles him to the notice of the leading Infidels of Boston, anti that, if they refuse to comply with his resjtectful invita tion to meet him in debate, vve can consider such refusal in no other light than an ac [ knowledges fearfttlness, on their part, to sub ! mit their opinions to the lest of fair and hon j orable discussion. Carried unanimously. 5. Resolved, That a committee of the fol lowing clergymen and gentlemen be appoint ed to sign, and present these resolutions to Dr. Sleigh, viz:—The Rev. Thomas Whil temore; the Hon. Seth Sprague; Rev. Lu cius R. Paige; Rev. Paul Dean; Rev. E. T. Taylor; Rev. Jotltam Horton; Rev. Abe! Stevens; Rev. ThomasF. King; Rev. VVm. Hague; Rev. S. Streeter; Rev. Wm. C. Ro gers; Rev. Benj. Whiltemore; Rev. D. S. King. Carried unanimously. 6. Resolved, That the thanks of this meet ing be presented to the Hon. Seth Sprague, and the Rev. Thomas Whittemore, for their able and impartial conduct as the chairmen of these meetings. Carried unanimously. (Signed) 1 liOS. \V HI ITEM ORE, Chairman. N. B. The Editors of those papers through out the 1. nion, who are friendly to the cause of Christianity, are earnestly requested to publish the above. Boston, Nov. 19, 1836. Married in Winusborougb, on the 6ih ult., 1 by J. Z. Hammond, Esq., Mr. Mosely, aged j 17, to Mrs. Paul, aged 77, both of Fairfield ' District. The buxom young widow, a few i moments before she presented herself to the : altar, made her will, leaving her husband an j equal share of property with her other two t children at her death, which amounted to a bout 500 dollars. Such a getting up stairs, I never did see— From such a getting up stairs, Oh Lord! deliver me. Charleston Patriot. \ Most men have opinions just as they have favorites; the latter they will not have bla med, nor the former disputed. WASHINGTON, (UVlkcs £#»•> TUESDAY, JANS ARY ! ?, 1837. is, ~ , .'-l , ■ AN Os the Secretary of the Treasury on the Slot of the Finances. [concluded.] 7. Os the Mint and the Currency. ; On the subject of the Mint and the new j coinage, the Department is gratified to st tie , that, by means of additional appropriate ns, ofimprovcinents in maciliuery, and of an am ple supply of metal for coining, through the j fortunate remittances to this country of the Fiench, Spanish, and Neapolitan intfemni- | ties, in gold, more money lias been, and will i be, coined during the present, than any pre- j vious year since the fundaiion ol the Govern ment. The whole amount, from the Ist of j January, 183 G, to the Ist of November, 183 G, , has been in gold, $3,619,4-10; in silver, f2,- i 877,000, and in copper, $22,631. The sums , transferred to the Mint in aid qf the to (age o.; 11 au . —oe mto oep’.sit a’cij"*. amounted to $/00,000. When the annual’ report of the Director is made on the Ist of January next, a more minute account of all his operations, with his views on these trans fers. will be presented, accompanied by such suggestions for further legislation on the sub ject as his experience may lead him to consid er useful. The Mint and its branches would in my opinion, be more effciently assisted by means of appropriations, rather thau mere transfers, to supply fully and promptly the additional coinage, which the additional wants of the community may from time to time require.— The Department is still convinced, for rea sons formerly urged on the consideration of Congress, that a gold coin of one dollar in value might be very convenient and useful to the public iu many of the ordinary tTansT" actions of society. The branch mints are all in progress, and will probably be completed by June next, and their machinery at a still earlier day. The coinage in them can cont inence immediately after their completion, if the proper appropriations are in the mean time made, and the proper officers appointed. The greatly increased quantity of gold now existing in the country, amounts, probably, to upwards of $15,000,000. For this, vveare chiefly indebted to the new valuation of our coin, though some influence, must be ascrib ed to the efforts made by the General Gov ernment, and most of the States, to suppress the circulation of small bills, as well as the favorable condition of our foreign exchanges sifibc It'o-i, ami the policy oi'onltjfuig oTTie" the foreign indemnities in gold, and encoura ging public payments to be, in part, made with this kind of coin. At this time, the abundance of gold here is such as to have produced increased facility in distant specie operations, it is becoming more widely and beneficially cfili’used over the different sec tions of the Union, to the greater accommoda tion of most classes of people, particularly in travelling and exchanges, and to the perma nent improvementofouircirculating medium. The amount of gold coined since the new valuation in 183 J, has been near $10,000,060, and has exceeded by one or two millions the whole amount coined in the thirty-one years which had elapsed, after the mint went into opt atlou. The arot.i.ut-:o:nt(i >.je* past twelve months alone is greater than that during the whole of the first sixteen years af ter its establishment. Another important and gratifying consequence which has resulted principally from the present policy and sys tem as to the currency, has been, that, of all the gold coined before August, 1834, amount ing to about $12,000,000, probably not sl,- 000,000 then remained in the country; of that small amount only a very diminutive portion was in active circulation. Indeed before 1834 our coinage of gold was of little benefit except to purify and prepare tiie bullion lor exportaiion and for the use of Ibreign mints. But the great mass of near $10,000,000, since coined,undoubtedly remains in the coun try, and an increased and increasing propor tion of it, is in active and convenient i tion. To promote this desirable end, -. lar ger porti' n than usual of quarter eaglss has been recently struck, and the whole l umber of gold pieces of every kind made since the beginning of the last year, is about, 1,000,- ( *OO, and almost equals the entire number ! coined during the whole forty v-ars previous to the new coinage. The change iri the a mount of specie ofall kinds in the country, duiirig the last ihree years, is highly gratify ing, as an earnest of a more solid basis to a paper circulation already too large in propor tion, and as a security not only to those class es who are most safe in the employment of a metalic currency for all common piirjmses, but to the banking institutions themselves in periods of panic and unfavorable balances in foreign trade. The whole specie in the country in October, 1833, when the.,roih'ic. deposites were removed from the I". 8. Bank, did not probably exceed $30,000,000, and the portion of this in banks is not supposed to have exceeded $26,000,000; while now the whole specie irj the country probably exceeds $45,000,000, leaving $28,000,000 in active circulation. The paper circulation within the above period has also been greatly and unfortunate ly enlarged. From about $80,000,000, which was then the supposed aggregate after de ducting the large a.:iouut of $20,000,000 for w > g- - —-i, ■ - —i - Holes iielJin utfieretil ’oinks, it uaa prof a uly | risen, and chiefly within eighteen months |Mist, to about $120,000,4)00. But this in crease, though great, it will be seeu is not halfso great a relative increase as lias taken tflace in the whole specie in the country, nor quite ns great as has happened iu the specie in the banks alone. Computing that the pa per iu active circulation iu the l . Slates has averaged about two to one of specie oil band in the banks, and was, in October, 1833, about three to one, or near 50 percent, over the usual proportion, the comparative a lnounts of specie at the several returns, from 1633 to 1636, presented a very favorable change, had become greater than the ostial proportion, and even now, in all the banks, taken as a whole, are somewhat improved since 1833. But they have much deteriura . .si year and Again: Vidnle afHouuT, ‘iiTweil i% proportion of . pecie in the country, is much greater than it was two years ago, and the proportion is am ple for the paper circulation in several of the banks and Stales; yet it is manifest that ma ny institutions in other States have of late departed more widely from the proper and safe proportions than their peculiar location or advantages for business, however favora ble, might warrant on sound banking piinei jiles. As some illustration of the general changes on those points since 1833, the fol lowing briefexhibit in round numbers, and in a tabular form, prepared partly from actual returns, and partly from estimates, may be useful: Paper in ac- Specie iu S|«cie in; Dates. tivecircuia- active cir- banks. tion. cu'ation. ] i\ear. Oct. 1833, 80,000,000 4,000,000 25,000.000; Jan. 1,1834. 76,000,000 12.000,000 27,000,000 Jan. 1,1335, 82.000,000 18,000,000 43.000,000, Jan. 1.1836, 108.000,000 23,000,000 40,000,000 Dec. 1,1836, 120,000,000 28,000,000 45,000,000i %Ai all these periods, except the Ist of Jan- K. ciity mihior'S of pnptr have been ci .’’.pitted as issued, but not in active circu h.tji ti among the people, being held by the other banks, & so far considered as equivalent to tl e deduction of a like amount from their own circulation, liable to be redeemed in spo ok On the first of January last, the amount shield was about thirty two millions; and in J. !y hist the active paper circulation was al so arobably some millions larger than it now is. This exhibit makes the whole active cir culation ofbolh paper and specie, about $6 50 per head of our whole estimated population in October, 1833; about $6 50 in January, J •;!; about $7 in January, 1835; about ■: T 50 in January, 1836 ; and near $lO at the j -cut tim.e Though this is a less propor- i*»| 'infill <‘ny mediu'ii than is now usual in tiie couniries-of Europe, which are mostly commercial, and where specie is more used than bills, yet it is a larger ratio than has ever been supposed to he necessary in the United States, considering the character of 2 or 3 millions of out southern population. The average here has usually been about $6 per head. Nor has the amount ever before 1811 been supposed much to exceed $5, and at no time since has exceeded about $7 per head, except under the excessive paper issue to wards the close of the late war, by which, in 1816, it was estimated to have reached sll per head. While our Country has, of late years, be come more commercial and wealthy, and has a-iarger portion of specie in use, which cir cumstances would somewhat increase the ue ■yJL;i M ii , 'oi. l-propcr amount of circulation per head, it has, as counteracting causes to these, greatly increased in the ease and quickness of communication whether by mail or other wise, and iu the use of bills of exchange and drafts, instead of money, for distant opera tions. Hence our circulation, during the past twelve months, at $8 50 and $lO per head, as deemed excessive, and as in 1816, one great cause of the exorbitant prices which have prevailed in relation to almost every article, as well as of the extraordinary pro pensity to overtrading and speculation which has pervaded almost every section of tin country. It is true that during a few months past the paper portion of our circulation has, as before suggested, been considerably re duced ; but till that, with our present large a mourn us specie in circulation added, fails as bout $7 per head, or the bank notes, to atioi H - ''* 01)0,000, in lead of $120,000,000, the currency may be considered as too redun dant, and in an unnatural and inflated con dition. The credit system has not only un dergone an unusual expansion an.ong imli vidouls and .States, but it lias, by means ol these inordinate paper issues, penetrated m ire deeply thau is safe into ihe whole cur rency ofthecountry, and rendered that whir l , as money, is and should e deemed the sub- : utiiute or antagonist of credit, dependent too ! maril on credit itself, and subject to many ol j tt.e umfgt’is aao iluctua. 'os in value insup erable from mere credit, rather than posses sing the intrinsic and uniform value attached to specie. This condition is believed to have been produced eh hit v by numerous incorporations of new batiks, without suitable legal restric tions, iu many States, on the amount either of discounts or of paper issued, iu proportion to the specie on hand; and by the exteessive demands for money, thus templed and stim ulated, to aid an unusual number of extrava gant adventurers iu lands, stocks and trade. Those, acting together, and, in some de gree, influencing and exciting each other, have induced many banks to haz.ard urtrea- I sonable and indiscreet issues, as well as loans, j to supply the wants of such au extraordinary i crisis, and which there is good reason to be : lie ve, thowever large n ( proportion njjsprcie : tbrfunotely exists in the country, and which may tend sooner to avert the usual evil con sequences from the above state of things,) will produce much distress, embarrassment, and ruin, before this specie can be duly e quali/.Cil, the excesses of paper sufficiently curtailed, and the exorbitant discounts grad ually lessened to theit safe and proper limits, j This increase us about forty millions or olc thi id of the paper circulation in a year u nil a j half, is a sudden and great fluctuation, which never could occur in a currency entirely me j talic, and which would probably, during the past year, ns in 1811, have been much great j or, had not the larger proportion of specie now iu the country, and the increasing disuse o! small bills, operated strongly as preventive checks. But even now the excess has been suffi cient to constitute the chief cause for the arti ficial augmentation in prices, au unnatural stimulus to speculation, and a rapid vnscilla tion iu the regular modes of doing business, which cannot, undei sound views of political economy, be too greatly deprecated, or their recurrence too carefully guarded against.— These sudden and great vibrations in the val ue of property, labor and debts, however pro duced, or however fluttering to many n» first, ate, in the end, dangerous to all classes, us well as ruinous to commerce, and every spe cies of regular industry. But should paper issues, according to anti cipation, continue to be reduced, as during the four months past, by the natural and con servative re-aclion of commercial cause:,, at home anil abroad, and by the general, wise, and increasing discontinuance of the use of small bank notes, through State legislation, and provisions, of a similar character and tendency, by Congress, as tit the late session, in the general appropriation act, and iu the depo.-sitc law, and by the diminished receipt ofall batik notes, the luxtNfevv months, at the different land offices, for the sales of the pub lic domain, a sounder and less nrtilicial state of tilings will ere long return. The prospect on the subject of the curren cy is, therefore, on the whole, becoming more satisfactory,even without further legislation. But, if till the States would unite in tepress ing entirely the circulation of small notes, and in rigidly restricting all paper issues, so as not in miy case, to exceed three to one of specie on hand, which would be about two of paper in active circulation toonc of specie on hand, and would add a few judicious limita tions on the amount of discounts as compared with the capital and depositee, and on the. safe kind of security to be taken fur them, with the requirement of frequent publicity of their condition in detail, and of rigid accountabili ty to periodical examinations, by legislative authority, the time is not distant when our currency would become quite stable. In deed, it deserves consideration, whether, tin der such circumstances, the whole monopo lies of hanking might not, with public advan tage, be entirely abolished, and the banking privilege under the above general restraints, securities, limitations, requirements, might not, particularly if the personal liability of the stockholders is superadded, safely be thrown open to all. A larger amount of tax or bonus to the States, would probably be thus collected, without any increase in the usual rate; nnd, it is believed, that the interest now paid by borrowers, would, by these changes, become, iat an early day, fcensildy reduced* But, | without the most careful and rigid restric tions, such a measure in this country, what j ever may have been its operations elsewhere, ! would, under our different institution, and habits, probably increase, rather than dintin j tih, any existing evils in the currency. It is conceded, that these disproportionate issues by banking institutions, are, in fact, much more frequent in regions vvhete the number of banks is small, than where it is large, provided their charters be similar, in omitting prudent limitations. I’ecausc, in the former tase, there is less vigilance, can lion, and correction, produced by the jealous ies and interests of rival institutions to pre vent exc» ssivo issues, and irregular and dan gerous discounts. Hut the tendency to excessive trading, ex cessive credits, and rash enterprise,, is so strong, and sometimes ungovernable, irt indi viduals, and in some respects, equally, or more so in corporations, as to endanger the stability of both batik and business, unless the power to manufacluie paper m >ney is^ No. 20. cafc.udy iesUMAcg The present amount of bank ci.pilal, as Veil as its increase for some years past, is aoolhetr kindred topic of some interest. But spaed does nut exist on this occasion, flirt’s ftiltex position, and, at the same time, it is not ve«y alarming, except where it lias been author! zed without proper limitation ou paper issues} and without other prudent bank resttictions. The whole hank capital in active opera tion, is computed to have been o- . $200,000,000 in 1833-1; 231,000,000 iu 1834-5; 250,000,000 in 1835-6; And nearly fifty millions more has LieeA authorized, most of which is supposed hot yet to be iu lull Operation. More facts will he exhibited on these points* and particularly on the amount of bank capi* la! ’ t each Stale, in a •j.i.’rial report, soon 10 be presented from this Department so Con gress, concerning the detailed condition of the State bank, near the Ist of January, 1836, Had it not been for large sales of Amer)* can stock abroad, and the very high prices given the ic for our principal staples, a demand for specie, for export, would doubtless have arisen ere this from our overtrading, and have greatly exhanced die present difficulties which some of the banks now experience, chiefly from the great excess of paper in cir culation. The comparative value ofspecio being reduced by such excesses, the evil would have been still more aggravated, if those excesses had not become somewhat di minished, and specie had not become in greater demand here, in consequence of the circular, as to the kind of money receivable for the public lands, issued by the direction of the President, of July last. The demand has contributed to retain and diffuse it wider, and to make its great and early export less probable, than H otherwise would have been. The other objects of that circular \vcre grad ually to bring back the practice in those pay ments to vvliat was deemed to be the true spirit, as well as tho letter, of our existing laws, arid to what the safely of the public money in the deposits banks, and the desira ble improvement of our currency, seemed, St that time, to unite in rendering judicious.— I he reasons more iu detail, for the measure, are contained in the document itself, of which a copy is annexed, (G.) Our money opera lions have also been somewhat cflccled by u ! few difficulties ahtoad, in tin, uatioin with which our commercial intercourse is greatest, nnd whose momentary system of late years, often heating with n pulse like our own, i.4 under influences nearly corresponding. Since 1833, the paper circulation in Eng land, is sit),posed )o have increased over six teen millions of dollars, while the specie pos sessed by the banks; has diminished ovef twenty-three millions. The whole circula tion cif private banks, joint stock banks, arid tho Batik of England, is now probably about 152,000,000, of paper to less than 26,000,000 of specie ou band; whereas in 1833 it wa! only about 237,000,000 to 50.000,000 of spe cie, or now from five and six to one, hut then only two and three to one. Consequent ly, an alarm and pressure have arisen there* which are operating unfavorably here, though they have arisen not so much from an ex cessive amount of both the paper and specie currency united, as from the greatly iuetcas ed disproportion, being quite doubled, be tween the paper issues arid the Specie ou hand by all the banks. W’liat portion ofiheit paper was, or is now, held by each oilier is not known; but, as the bills of the Bank of England arc a tender by all the private and joint stock banks, the atiiobnl is probably large. 'I heir banking system, as a whole, with every supposed benefit to be derived from a national bank, is believed lobe undef much more defective regulations, as to exces sive issues, excessive discounts, and secrecy of condition and proceedings, than Is our own in most of the States of the Uuioh. Indeed, so unsatisfactory has been its operations, that they have recently become the subject of parliamentary inquiry, which is, it proposed td” res little and push much further at a suhse.- qtient session. 8. Land Office. Immediately after the passage of the law of the last session, re-organizing the General Land Office, some doubts arose, whether it still remained attached tti the Treasury De partment, and the opinion of (lie Attorney- General was taken on the question. In con* sequence of his opinion, that the supervisiort over its concerns remained here, and of thd direction ol the President of the II: State®, under whose control that law now places all the afliiirs of the General Land Office, stfcpS were taken by tne to carry it into immediate t fleet. The result thus far has been a sensible di minution in the pressure of the business of’ (hat office; a better system of supervision and despatch for most of it, and much less delay iu completing titles to the public domain.— Should the sales not continue very large du ring the few ensuing years, it is believed that the whole arrearages of business can be dis posed of, ahd the promptitude iu fill its futurtl operations secured, whic h is immediately im portant to the great western and south-west ern sections of the country, and more or less beneficial to all, as well as creditable (u the adriiitiistiaiion of the Government. There*
