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CHRONICLE AND S BNTIXEL.
august a •
SATURDAY MORNING, FI BRUARY 29.
The Reading Bfom.
H
At the suggestion of some oif our friends who
have expressed much anxiety fc 1 * the continuation
of our Reading Room, we h;i?/e consented to
send round to day a Subscription, to all the old
Subscribers, to give them an opportunity of re
newing their Subscriptions, an dji to otners who
may be desirous to become S abac fibers. \re
will not insult the goad sense ot the community
bv offering any suggestions on t le advantages ot
keeping up and sustaining a ’well conducted
Reading Room in the city—the} are familiar to
all. If a sufficient number be oi lained to cover
* expenses, which is all we desire wc shall forth
with conclude our arrangements for flitting it up
in a style, that will render it ars; agreeable resort,
both to Subscribers and those strangers whom
they introduce:—who alo.ve wi|l be admitted to
its privileges. |
Mods. Adrien,
s By an advertisement in thisd ly’s paper, it will
be seen that Mans. A’s first, exhibition will take
place at the Theatre on Mondavjevening next.
Gen. Harrison.—Abolition.
Two days since, as an act of justice to the “ he
ro of Tippecanoe,” we promised to lay before our
readers, his opinions on the all absorbing and ex
citing Subject ot Abolition. M!e farther stated
that when the evidence wts suknitted, no im
partial man would say he was more obnoxious
than the sage and patriot Jefferson. By this,
however, we designed not to insinuate that Mr.
Jefferson, was it* the slightest decree attainted by
that reckless spirit of fanaticism.
We therefore commence to-day with the proof,
and will take occasion to remark, that Gen. Har.
rhon is now an old naan, —has been in public life
with but little intermission near forty years ; du
ring which time, he has had freqjbent occasions to
express his opinions upon the sulject of slavery ;
on all of which he has done sc* became an in
dependent freeman, as became the son of Virgin
ia. And on no occasion, has he jsver uttered a
sentiment that has come to our knowledge, which
in the slightest degree, can, without great perver
sion of the sense, be tortured into ;ji support of the
wild schemes of the Abolitionists ?
The first evidence which we Submit for the
consideration of our readers, wi* copy from the
Emancipator, and Rochester Free nan, which pa
pers are organs of the Abolitionist;!. In which it
will be seen, that they exhibit the recorded opin
ions of General Harrison as far batik as 1802.
“Gexeual Hahhisox.— Many have supposed
that it might be expedient for the Executive Com
mittee to interrogate General Harrison, now that
he is the recognised candidate for the Presidency,
with some prospect of election, to learn his views
with respect to the abolition of slavery. But
® where is the use ? It is true, we rejoice in the
rejection of Henry Clay, because he is a slavehol
der, and a defender of slavery. Gen. Harrison,
we know, is not a slaveholder. Neither is Mr!
\an Burcn. But no one thinks it necessary to
interrogate Mr. Van Buren. Why ? Because
his principles are known to be in favor of the as
cendancy of the Slave Power. Rut are those of
Gen. Harrison any less so ? Hits is the man of
h : s party, and that party have shown the abso
luteness of their subserviency by nominating a
slaveholder, a peculiarly bigoted devotee of slave
ry, on the same ticket with General Hairison, and
now by electing a nullifying slaveholder, from
slavebreeding Virginia, for Speaker.
But we submit, further, that Gen. Harrison’s
principles are already well known by his deeds, of
■which we find the following summary in the Ro
chester Freeman : §
In December, 1802, while Governor of Indiana
erritoiy, he was president of a convention ofthe
people ot that lerritory, held at Vincennes, and
transmitted to Congress a memorial of the con
tention, praying that the sixth article ol the -‘Or
dinance of ’87,” which prohibited slavery there,
might be suspended. (See Arm Papers,
1803.) His efforts to make Indiana a slave
State were prosecuted for year’; while he was
Governor of that Territory. I
hi 1819, Feb. 15, Gen. Harrison voted, as a
member of the House of Representatives, against
a clause prohibiting the further introduction of
slavery in Missouri: and against a clause for the
further emancipation (at 25) of slaves born with
in that State. Two days afterwards he voted
against a clause prohibiting the future introduc
tion of slavery into Arkansas, and against the fu
ture emancipation of slaves born in Arkansas.
bo basely did he how to slavery, that even
Ohio was shocked. He was indignantly rejected
at me next Congressional election in 1822. The
National Intelligencer of Oct. 20,1822, says • “It
is confirmed to us that Mr. Gazely is elected in
opposition to General Harrison. A friend in
forms us. which we arc sorry to learn, that he was
opposed particularly on account ol his adherence
to that principle ofthe Constitutioicwhich secures
to the people of the South them pre-existing
rghts R seems, then, that Gen. Harrison
claimed lor the South the right to fasten slavery
upon any soil which the nation might have or
purchase.
He has had hut. Ifttle opportunity to act in a
public capacity upon the subject df slavery since
that tune; hut an address from his political friends
in \ irgima, in 1836, says “he is .-bund to the
core on the subject of slavery.” »
Here, then, we have two abolition papers, the
Emancipator and the Rochester Iceman. oppo-
Sin- Harrison’s election. Here ili|- same paper
further: |
‘•lt is true General Harrison’* personal de
monstrations are less rccen! than Mr. Van Bu
sf 11 s * ut l hcy are much stronger, for .Mr Van
Buren helped to send Rufus Kin,, to the United
States Senate to oppose slavery in Missouri and
he has never attempted to extend slavery to re
gions where it was already abolisluyl. And fur
ther, the demonstrations ot the Harrison party are
more recent than those of the other. And it it is
said that we should give the old General a chance
to repent of his pro slavery, wc rejpy that it be
longs to the man who repents to exhibit his own
repentance. Certainly there are n|i circumstan
ces in the case which warrant the--lightest pre
sumptions in favor of his repentance. Let him
or is friends, if they choose, shoo* wherein his
views now differ from his actions In 1802, and
1819, and 1836.” I
Tin. next evidence in order, and with which
we shall close the present article. & an extract
from the speech of General delivered at
' mcennes. Indiana, in 1838, which We c *pv from
the Charleston Courier, a paper which supports
the administration of Mr. Van Barer. * Too
much praise cannot be bestowed oa the Courier,
\
for this manifestation of magnanimity and justici
on their part, in endeavoring to disabuse the pub
lie mind in regard to the opinions of one towhon
they are opposed. How does this conduct con
trast with the course pursued by the administra
tration presses in Georgia ? Oh shame where i
thy blush !
As the views of General Harrison, on the subjec
of Slavery have been much misrepresented i;
the South, the following extracts from an Ad
drees, delivered by him at Vincennes, (Indiana
will satisfy the public in this respect, a fev
years ago.
I have now, fellow citizens, a few words mor
to say on another subject, and which is, in m
opinion, of more importance than any other lha
is now in the course of discussion in any part c
the Union. I allude to the societies which hav
been formed, and tne movements of certain indi
viduals in some of the States in relation to apoi
tion of the population in others. The conduc
of thes3 persons is the more dangerous,
their object is masked under the garb of disintei
estedness and benevolence; and their course vin
dicated by arguments and propositions which ii
the abstract no one can deny. But, however fa?
ciuating may be the dress with which thei
schemes are presented to their fellow-citizens
with whatever nurilv of intention they may havi
been formed and sustained, they will be found t
carry in their train mischief to the whole Union
and horrors to a large portion of it, which, it i
probable, some of the projectors and many of thei
! supporters have never thought of; the latter, th
first in the series of evils which are to spring fron
their souice. are such as you have read of to hav
been perpetrated on the fair plains of Italy am
Gaul, by the Scythian hordes of Atlila and Olai
ic; and such as most of you apprehended on tba
memorable night, when the tomahawks and wa
cluMf the followers of Tecumseh were rattlinj
;in jotß suburbs. I regard not the disavowals o
any such intention upon the part of the author
of these schemes, since, upon the examination o
the publications which have been made, they wil
be found to contain the very fact, and very argu
rnent which would have been used, if such hai
been their object. lam certain that there is not
in this assembly, one of these deluded men, am
that there are few within the bounds of the State
If there are any, I would earnestly entreat then
to fmbear; to pause in their career, and deliberate
1y consider the consequence of their conduct t<
the whole Union, to the States more immediate
ly interested, and to those for whose benefit thei
profess to act. That the latter will he the victim;
of the weak, injudicious, presumptuous and un
constitutional efforts to serve them, a thorough
examination of the subject must convince them
The struggle (and struggle there must be) mai
commence with horrors such as I have described
but it will end with more firmly riveting the
chains, or in the utter extirpation of those whose
cause they advocate.
Ami wrong fellow-citizens, in applying the
terms weak, presumptuous and unconstitutional,
to the measures of the emancipators? A slight
examination will, I think show that lam not. In
a vindication ofthe objects of a Convention which
was lately held in one of the towns of Ohio,
which I saw in a newspaper, it was said that no
thing more was intended than to produce a state
of public feeling which would lead to an amend
ment of the Constitution, authorising the aboli
tion of Slavery in the United States. Now can
an amendment of the Constitution be effected
without the consent of the Southern States ?
What then is the proposition to be submitted to
them? It is this;— The present provisions o:
the Constitution secures to you the right (a right
which you held before it w is made, which you
have never given up.) to manage your domestic
concerns in your own way, but as we are convin
ced that you do not manage them properly, wc
want you to put in the hands of the General Go
vernment, in the councils of which we have the
majority, the control ov r these matters, the effect
of which will be virtually- to transfer the powers
from yours into our hands.” Again, in some of
the States, and in sections of others, the black
population far exceeds that of the white. Some
of the emancipators propose an immediate aboli
tion. What is the proposition then, as it regards
the States and parts of States, but the alternatives
of amalgamation with the blacks, or an exchange
of situation? with them ? Is there any man ot
common sense who does not believe that the
emancipated blacks, being a majority, will not
insist upon a full participation of political rights
with the whites ; and when possessed ot these,
they will not contend for a full share of social
rights also? What but the extremity of weak
ness and folly could induce any one to think,
that such propositions as these could be listened
to by a people so intelligent as the Southern
States? Further. The emancipator? generally
declare that it is their intention to effect their ob
ject (although their acts contradict the assertion)
by no other means than bv convincing the slave
holders that -ho immediate emancipation of the
slaves is called for, both by moral obligation and
sound policy. An unfledged youth, at the mo
ment of his leaving (indeed in many instances
before he has left it) his Theological Seminary,
undertakes to give lectures upon morals to the
countrymen of Wythe, Tucker, Pendleton and
Lowndes, and lessons of political wisdom to
States, whose affairs have so recently been direct
ed by Jefferson and Madison, Macon and Craw
ford. Is it possible, that instances of greater va
: nity and presumption could be exhibited ? But
the course pursued by the emancipators is uncon
| stitutional. Ido not say that there arc any words
in the Constitution which forbid the discussions
they are engaged in ; I know that there are not.
And there is even, an article which secures to the
citizen the right t j express anti publish their
opinions without restriction. But in the con
struction ot the Constitution, it is always neces
sary to reh r to the circumstances under which it
was framed, and to ascertain its meaning by a
comparison of its provisions with each other, and
with the previous situation of the several Stales
who were parties to it. In a portion of these,
slavery was recognised, and they took care to
have the right secured to them ; to follow and
reclaim such of them as were fugitives to other
States. Ihe laws ot Congress passed under this
power, have provided punishment to any who
shall oppose or interrupt the exercise of this
right. Now can any one believe, that the instru
ment which contains a provision of this kind,
which authorises a master to pursue his slave in
to another Stale, take him back, and provides a
punishment for any citizen, or citizens of that
State who should oppose him should, at the same
time, authorise the latter to assemble together, to
pass Resolutions and adopt Addresses, not only to
encourage the slaves to leave their masters, but
to cut their throats before they do so?
1 insist that if the citizens of the non-slavehol
ding states can avail themselves of the article of
the Constitution, which prohibits the restriction
of speech, or the press to publish anything injuri
ous to the rights of the slavtholding stales, that
they can go to the extreme that I have mention
ed, and effect anything further which writing or
speaking could effect. But, fellow-citizens, these
are not the principles of tho Constitution. Such
a construction would defeat one ofthe great ob
jects of its formation, which was that of securing
the peace and harmony of the States which were
parties ta it. Jhe liberty of speech and of the
press, were given as the most t ffectual means to
preserve to each and every citizen their own
rights, and to the States the rights which apper
tain'd to Mem, at the time of their adoption. It
could never have been expected that it would be
used by the citizens of one portion ofthe States
for the purpose of depriving those of another por
tion, ofthe right* which they had reserved at the
-e ] adoption of the Constitution, and in the exercise
% of which, none but themselres have any concern
or interest. If slavery is an evil, the evil is with
11 them. If there is guilt in it the guilt is theirs, not
a* ours, since neither the States where it does not
a- exist, nor the Government of the United States
j g j can, without usurpation of power, and the viola
| ‘ion of a solemn compact, do anything to re
| move it without the consent of those who are
ct immediately interested. Hut they will neither
in ; ask for aid, nor consent to be aided whilst‘the il-
J- legal, persecuting and dangerous movements are
i) i in progress, of which I complain ; the interest of
w j all concerned requires that these should be stop
| ped immediately. This can only be done by the
re J force of public opinion, and that cannot too soon
, v jhe brought into operation. Every movement
i which is made by the abolitionists in the non
of I slaveholding States, is viewed by our Southern
ve I brethren, as an altack upon their rights, and
\\. I which, if persisted in. must in the end era licate
, r . those feelings of attachment and affection beivveen
the citizens of all the Slates, which was produced
by a community of interests and dangers in the
, r . War of the Revolution, which was the founda
n. tion of our happy union, and by a continuance of
i n which, it can alone be perceived. I entreat yon
s . then, to frown upon the measures which are to
.j r produce resuls so much to be deprecated, 4he
s> opinions which I have now given, I have omit
ie ted no opportunity for the last two years to lay
to before the people of my own State. I have tak
n, en the liberty to express them here, knowing that
is even if they should unfortunately not accord with
■ir yours, that they would be kindly received.
ic
m lion. Thomas But'er King.
The following letter which appeared in the
r _ Washington Globe of the 11th inst., has until
at now escaped our observation,
ar House of Representatives,
February 8, 1840.
of #
rs Messrs. Blair 4- Rives -•
of Since my return from the South, my attention
ill has been called to the editorial article in the Globe
i- of the 3d inst. on the subject of the election of
id Printer to the House of Representatives, in which
it, Tam spoken of as “not voting,” which leaves the
d impression that I refused to vote or was purpose
e. ly out of my seat. I was absent on public busi
m ne.s. Had I been here I most certainly should
e- have voted ; and it is due to those who sent me
to hereto be informed how I should have voted.—
e- My opinion was, and is, that the public printing
y ought not to be given to the conductors of either
is of the leading political journals of the day, but to
i- some press not connected with politics. Had I
h been driven by circumstances, contrary to my
i. views of expediency, to vote for the Editors of the
y Globe or those of the Intelligencer, my impres
1, sion was when I left Washington, and yet is,
e that I should iiave voted for the latter,
e Your ob’t servant,
THO. BUTLER KING.
From the New Orleans Picayune of 21 st inst.
Later from Europe.
* There were two arrivals yesterday from Europe*
the ship Galen, and the ship Colchis ; the former
j brought advices from Havre to the loth Jtnuary,
and the latter English news to the Bth of lust
_ ! month. The political news is unimportant. The
cotton market both in Havre and Liverpool, ex
j perienced a slight improvement in prices during
j the first week of January. The rise in Hivre is
reported at from 2 a 3 centimes per lb., and in
j Liverpool at | of a penny per lb. The sales
. had also increased.
t Sio<_k of cotton on hand in Liverpool, January
j 1, 1840, 188,000 bales. On the Ist of January,
, 1830, the slock was 250,000 bales.
[ Prices of cotton at Liverpool, Jan. 6, ! 840 :
, Orleans, ordinary, a per lb.
Good fair to fine a
„ 1 The importation of cotton in England during
the year 1839, had fallen off 311,000 bales from
3 the United States and 39,843 from the Brazils.
I’ Intelligence had been received in England from
. New York to the 6th Dec., and from this city to
c the 28ih November.
The ship Bowditch got under way for New
s Orleans on the 7th of January; but did not get
g clear of the port of Havre, in consequence of
c having struck against the tower, when she ro
f cetved some damage.
e The Liverpool had not arrived at Liverpool
t previous to the 7lh of January, and it was thought
, she would not be able to leave Liverpool for New
, ; York as early as the 20th of Jan.
I The cause of the French soldiers was looking
_ ! up at Algiers.
1 Cabrara, the great Carlist chief is dead; he
j , was carried off by typus fever.
* j r J *
y I The New York Commercial states that on
* | Friday the U. S. Bank paid $160,000 in specie
_ | to the agent of the Boston Banks, in redemption
e; of “marked Post Notes.” Sixty thousand dol
d I larsmore in specie were paid on Saturday, nine.
ty thousand are to be paid on Tuesday—making
r< $310,000 in all, in specie.
e
1 Commodore David Deacon, of the U. S. Navy
0 died in Philadelphia Saturday. He was one of
the elders of the Navy, and was highly esteemed.
t Atrocious Suggestion*.— Stale of Society
- in Indi ana. —ln the Indianapolis Democrat of
s the 4th inst,. we find this most extraordinary and
s atrocious paragraph:—
“We suggest the propriety to the democratic
c party tn town, to have a private meeting for the
r purpose of preparing to defend themselves from
- the brutal assaults of the federal party. Arrange
ments must he made to procure arms of every
t kind. Articles of association must lie drawn up,
a and each one ought to pledge himself to risk his
J own life in defending his party, or resenting in
s suits and attacks. Civil war might better rage at
■* once than to live as we now do. The law? must
a be set at defiance, and each one must fight on
d his own hook. As a name tor the democratic as
r sociation, we suggest the one of the Jackson Club,
s Such an association is absolutely necessary for
0 tue preservation of the lives, liberty and princi
-3 pies of the members of the democratic party.”
We gather from the same journal, that the
, horril le condition of society, which such a sug
gestion indicates, has been brought about by in
a decent comments of the Loco Foco press on the
t enthusiastic manifestations of the great Whig and
e Harrison Convention of Indiana, held on the 16th
a January. This led to some personal altercation,
a and hence the jacohinical project here unblushing
t ly put forth. —Newark Daily Advertiser.
State Lunatic Astlum.—The State Lun
f atic Asylum, now building at Utica, is to cost
a about $200,000. The main building is 550 feet in
- length; the centre part is 46 feet in width, and the
t wings 40 feet. It is designed for the accommo
dation of 240 patients. There are said to be over
r 700 pauper lunatics in the State, many of whom
e are confined in jails and poor houses, wholly de
-1 prived cf the use or enjoyment of those means
- which an enlarged and liberal philanthopy, aided
I by the discoveries ot science and the light of ex
; perience. ha* provided for the cure of mental dis
* eases.—A. 1". Jour . of Com .
> ■ —
i That Crucifix.—The gold crucifix we men
- Honed the other day, as having been found in the
: calaboose “ diggings,” turns out to be a brass
' fi re d°" It weighed 28 pounds as we said at
> first. \\ e are willing to acknowledge it was no
* crucifix, but we don’t fail a pound in the weight
* of the ai tide found. —New Orleans Picayune.
Liverpool Cotton Broker’s Annual Circu
lar.
Liverpool, 31st December, 1839.
If proofs were wanting of the fallrbillity of
all attempts to penetrate the mysteries of the cot
ton question, they arc to be found in the history
of the last twelve months wherein are developed
facts and conclusions so widely at variance with
the reasonings and opposite predictions of men
equally sagacious in commercial affairs, that the
merit of being right even by accident, would ssem
to have been denied to all. A brief notice of the
position of the market, and of the state of public
opinion at the commencement of the year, will
serve to confirm the justice of this observation.
The coiiOicliag accounts as to the extent ot
the coming crop had invested the subject of sup
ply with more than ordinary interest. For two
months the advices fiom the United States had
been steadily pointing to the probability of a large
deficiency, and the statistical details by which
thev were accompanied, impai ted to them an air
of truth well calculated to recommend them to
general acceptance —though it must be admitted
that the professed believers at this early period
were comparatively few. The majority entertain
ed doubts, partly from information derived from
sources equally deserving of credit and partly
from the absence of any ascertained cause suffi
cient to explain so extensive a failure in the crop
as that alleged. The only one assigned was a
droughth in the spring; but, from the silence of
the planters, at the time, who are usually not
slow to complain, it was reasonably concluded
that the mischief was neither serious nor wide
spreading. Saving this, there had been nothing
unpropitiousin the season from wind or rain, or
premature frost; and when it is considered that
the growth of the United Slates had exhibited,
for a series of years, (with but a solitary excep
tion) a constant average increase of 1*20,600
bales, it did require a combination of adverse
circumstances, far stronger than any which ap
peared, to surrender not merely the customary
annual increase, but to reconcile the falling oil’,
besides, of 150,000 bales. From the effects,
however, which these reports, whether well or ill
founded, had upon prices, it may be suspected
that the numbers who secretly participated in
the fears of a scarcity were by on means incon
siderable ; though it may be regarded, perhaps, as
a fortunate circumstance, that the less sanguine
views upon the subject ostensibly prevailed.
None of the authorities in the cot»on circles,
committed themselves to a smaller crop than
1.600.000 bales, and the portion appropriated to
thiscountry varied from 900,(K'0 bales, to 1,039,-
000 bales; adding to this the import from other
places, estimated at 305,000 bales, the same as the
preceding year, and the stock in the ports 321,100
bales; also the stock held by the trade above their
usual compliment stated to be 60,000 bales, and
deducting 102.000 bales for the re-exportation,
gave a supply for the service of the year, ranging
from 1,484,100 bales to 1.914 100 bales.—From
the smaller of these quantities the more ardent
believers in a short crop claimed a deduction of
150.000 bales, leaving as a minimum, for the
year’s consumption, 1,334,100 bales. But what
ever diversity of opinion existed as to the sup
plies, the most perfect uniformity on another no
less important item of the calculation, the con
sumption, which hy common consent was fixed
at no less than 24,000 bales per week, nr 1,348,-
000 bales for the year; being the moderate in
crease of only 4 per cent, on that of the year be
fore. To have hinted at the probability of any
material diminution would have been deemed a
sort of heresy, useless indeed on the only grounds
that were admitted, extravagantly, high prices,
owing to the scarcity of the raw material. Un
der the influence of these impressions, prices had
gradually advanced since October, (when they
were at the lowest) to 2d per lb ; fair uplands
being at 8 3-Bd. per lb. and other qualities in
proportion.
Such were the state and prospects of the cot
ton market in the first week in January. Among
other topics of speculation was the part which
the ‘ United Stales Bank” intended to play in
the commercial operations of the year. The
movements of this body were therefore watched
with some anxiety, as it was obvious that a crop
so much reduced would be an esay prey to its
monopolizing grasp, and that any large propor
tion of it being hold up. whether on the other
side of the water or on this, would tend greatly
tn aggravate the evils of a scanty supply. Ail
doubts, however, were cleared up on this point be
fore the middle of the month, by the appearance
of a I -Iter from Mr. Biddle, in which he distinctly
declared that, having succeeded in the purpose of
his interference, which was to protect the “ pros
trate planter” from the “ reckless waste” of the
Britisn merchants, the means hy which that ob
ject had been accomplished “ were relinquished,
and that now they had totally ceased.” But oth
er parties had taken the field, “ both willing and
able,’ as Mr. Biddle expresses it, to do justice to
“American interests.” The principal importers
manifested the sincerity of their own belief, by
withholding their cotton as it arrived from the
market in which they were encouraged by each
succeeding account being more confirmatory- than
the last, as to the deficiency of the crop. The
trade, on the other hand, fairly stocked with cot
ton. and without any corresponding demand for
goods and yarns, declined entering into competi
tion with the spectator; and, with their habitual
skepticism, kept aloof, their purchases being con
siderably within what was required for their
weekly consumption.
About the first week in March, however, when
the advices from the states assumed a still more
decisive character, the.r fears appear to have been
thoroughly awakened, and joining the specula
tors in a simultaneous rush upon the market, in
that and the two following weeks they secured
96 000 bales,at an advance, first and last, of Id
to l|d perlb. This seemed to be the expiring
effort of the market, for .v on afterward it sank
into a state of the most extreme depres-ion, in
which it continued with scarcely a gleam of
sunshine for sixteen weeks. Between the 23d
of March and 18lh or July, prices fell 2|d per
lb, the sales to the trade, for the same period, av
rageing only 12,000 per week. The spring de
mand had failed to bring the anticipated relief,
and the stocks in the manufacturers’ hands had
accumulated to an extent that rendered the work
ing “short time,” with many a measure rather
of necessity than of choice. Though this cur
tailment in the hours of spinning was sufficient
ly extensive to produce a sensible effect on the
amount of business it was considered scarcely
adequate to explain so protracted a cessation of
the demand, and h*nce it was rather hastily con
eluded by some, that the quantity held by the
trade at the end of the year had been underrated
by some 20,000 or 30,000 bales.
Could the existence of so large an error have
been proved, this discovery at this critical junc
ture would, indeec, have boon a fatal blow to the
hopes of the holders ; for the excess could not
be looked upon merely in the light of a simnle
aJditioii to the stock, but from its having contri
buted to swell the apparent consumption of last
year, and by consequence of this also, it would
have led to a constantly increasing error in the
stock in the kingdom from the commencement
of the year. But the foremost of all the difficul
ties with which the market was beset, was the
pressure for money, which, taking the rate of com
mercial discounts as a test, was always severe
and sometimes intensely so. The fairness of this
critonon. however, os a medium of comparison
wil l former year., may perhaps he questioned
as, by the relaxation of the usury laws an j,,’
creased tariff,y for raising money upon bills hos
been afforded, to the discouragement of other fi
nancial expedient resorted to seasons of em
barrassment, which, tn one shape or other, are in
reality more costly to the parlies accommodated.
• /To this cause may also be referred the escape
from those extremes ia the depression of prices,
(for fair Uplands have never fallen below 6jd per
f lb.) which on previous occasions of mercantile
- distress have been the necessary result of a gen
-1 eral forcing of sales as the only legal means of
1 meeting presssing engagements.
1 Toward the middle of July the stock of cotton
1 in the hands of the trade were evidently exhaust
-3 cd, and the market began to show signs of re
-1 turning animation. But the game was up; the
3 contest between “ short crop’’ and “ short time”
3 had terminated in favor of the latter, and the year
I was too far advanced to recover the lost ground,
•,I the quantity on hand being more than enough to
* i answer any calls that in the scope of possibility
‘ ' could be made upon it. Although the import by
3 ! the third week in July, from the United States
1 ' had fallen short by 280,000 bales, and from other
3 i quarters by 20,000 bales, the stock in this port
1 1 alone amounted to 533,000 bales, which compos
r j ed of nine-tenths of American cotton, converted
3 ; the small numerical difference between the pre
-1 | sent and the stock at the corresponding period of
1 ! the year preceding, into an increase of no trifling
‘ j magnitude. Prices had now reached their lowest
3 ! point; in the last week in July they advanced
1 j tofd per lh., but in the next they declined +d per
lb., which, however, was regained in the foilow
’ : ing week. From the second week in August the
3 J movement was uniformly downward, by gradua
-3 i lions of per lb., nearly each successive week,
with a slight check about the end of October, till
the middle of November, when prices realised
per lb, on some very vague reports of the crops
» having sustained injury from another drought.—
r The accounts by the next packet, however, dissi
-1 pated these apprehensions, and the market re
’ | lapsed again into its former stale of inactivity,
i prices at the same time drooping, being l|d per
* | Ilf. lower for American descriptions on the last
3 I day of the year than on the first; while the pri
ces of Brazils, which had not been subject to the
1 same fluctuations, closed as nearly as possible the
’ same.
I Since the revival of the demand in July, the
j market may have said to have been, on the whole,
j rather animated than otherwise, the sales having
averaged 27,667 bales per week. Os this quan
-5 tity 65.000 bales have been taken by speculators,
j and 64,800 bales bona fide for export. leaving for
home consumption 32,360 bales per week. It
has already been observed, that the state of cotton
j in the interior was reduced to the lowest ebb at
j | the end of June, which, for the purpose of esli
. mating the rate of consumption for the latter half
r of the year, may be regarded as a soil of starting
, point. Limited no doubt as the stock in hands
j of the trade is at the present time, it must be
r greater than at the period alluded to by some
] 20,000 or 30,000 bales, as the quantity in transitu
must always preserve a certain proportion with
, the quantity in use. On this data, therefore, the
j average consumption for the last six months, out
t of this market would appear to he about 21,050
f hales per week; but some mills for particular
, qualities ot yarn are still working short time, and
. others, now a few, are wholly standing for want
. of the means or the credit to carry them on. In
, 1 the t ice of prospects so discouraging, it is sur
. j prising that prices should have been so well sus-
I i tained ; but many of tlie principal importers stood
. pledged to parlies on the other side to wait the
. issue of the crop; and speculator were always
. on the alert to take advantage of monetary de
, pressions. To speculation account must be
j placed, also, a portion of the business reported for
, shipment, which, it is understood, was retained
for resale on the spot.
For full particulars relating to stock and im
! i ports, reference is requested to (he published la
j bles, which have been much enlarged and im
( proved, and will be found to contain a variety of
) details, useful and interesting to those who are
\ minutely investigating the subject. The first
. object which will attract notice is a defalcation of
• no less than 308.540 hales in the import from the
, United States—a result confirming the accuracy
i of the advices early in the year, and furnishing
an ample justification of those who acted upon
them, whose hard fate it his been to pin their
faith upon a single fact which, could it have been
i | foreseen in its reality, would have been pronoun
ced, in one voice, to be all-sufficient to the a tici
pated end. Nor has tnc deficiency been supplied
from other places,but rather the reverse; a small
increase from India is more than counterbalanced
by a falling off' from Brazil, the import from which
quarter has been nearly stationary for some years.
The import of Egyptians, and of miscellaneous
kinds, are as nearly as possible at the same. But
the most important item is the decrease in the
consumption. The stock, as ascertained by the
annual returns, which there is every reason Ur v
believe have been made in the strickost. good
faith, amounts to 250,490 bales, of which there
are in Liverpool 206,050 b6les, London 31.840
hales, and Glasgow, 27,800 bales. Deducting
this quantity, and what has been re-exported/
from the total import into the kingdom, and the
stock on hand oa tue Ist January, the deliveries
to the trade have been 1,058,676 bales; but in
order to arrive at the consumption, to this quan
tity must be aJded what is held in the interior less
than at the same period last year, generally esti
mated at 70,000 bales, the trade being supposed
to hold at the present time not more than 90.000
bales; thus the quantity actually consumed has
been on the average 21,906 bales per week, or a
decrease of 1335 bales per week from the con
sumption of last year.
In comparing the stocks as returned, with the
weekly statements prepared by this association,
some important discrepancies will be observed.
Ol American cotton the quantity appears to be
less than was supposed, by 27,830 bales ; and of
Brazils by 5,100 bales, whilst, the stock of Egyp
tian is 2.800 bales, and of East India 5,580 bales
more. Assuming that the stock has been cor
rectly returned, of which there is no cause to
doubt, the difference can only be accounted for as
follows, viz: in American and Brazils, by sup.
posing that a quantity of both may have been
forwarded, unsold, up the country, the returns of
which have been furnished in a different manner
to those of former years; the excess in Egyptian
and Surat, has probably been occasioned by con
signments from London and Glasgow, which are
known to have been considerable, and which are
not included in the import.
It has been usual to conclude the summary of
tae year s transactions by some opinions of the fu
ture though recent experience has tended to
tnrow discredit upon these gratuitous predictions.
J he year has been a singularly disastrous one to
the manufacturer, the spinner and the merchant.
1 lie former began the year encumbered with hea
vy stocks, which, entering into competition with
the producer ot the current year, caused a ruin
ous decline in prices, in spite of which the com
p amts ot want of demand were loud and gener
al. The demand, however, rmist have been small
only wnen compared with the magnitude of the
stocks; for, according to “Burn’s Commercial
Glance, it appears that although the export of
twist was less for the first nine months by about
one-seventh that of all descriptions of goods with
Wy I Z U t n h Un P t ? W as compara
bly greater than during the corresponding period
in the year before, while the home trade is eon
wiZr tO . haVf : b f n tolerably satisfactory, not
withstanding the high prices oft,read. But the
piospects have already begun to brighten ; the old
stocks are cleared off; the demand has become
more regular and steady, and what with the ad
vance in yarn and the fall in cotton, spinning is
no longer conducted at a loss. The position of
the importer has not been less unfortunate
VV nh tli; exception of a small portion of the ear
ly imports, which were disposed of before the fall
took place, and a few arrivals of the new cron
the entire import from the United States has ei'
ther been sold, or is still he d, at a loss nmK w,
not less than fiom £3 to £5 per bale. Dab v
Such has been 1 lie baneful effects of a s V
of paper money upon the mercantile and " ystem | |
factoring interests of the country hut lb lar * u ~ |l
has worked its own cure; the decline Q f c I
| which has rendered a large class of Arnenc 0^'1 if
! curities valueless as a medium of exchang^R 6 * L
1 wrested from the banks of the Union the p - la3 ■
of dictating the terms upon which the m as , r’ cr 1
turers of Great Britain shall be supplied ’ ac *
article of the first necessity. The dealing V**
tween the two countries must henceforth bp ° k
ried on upon the sound commercial
mutual benefit. e r,f fe-
The time is auspicious for the change • f l)r , |
| the concurrent testimony of all parties the I
most abundant, being estimated by some as K.k I
!us 1,750,000 bales, and by none lower thanT* *
650,000 bales. Trices have been opened low ’ B
the other side, and it is greatly to be desired th° n B
they should rule proportionately low on this a
permanently cheap and plentiful supply of t ]
raw material is the one thing needful fur i n f u ,-
new life into every branch of the cotton niai ! ‘
lure; it will create new use, discover new * l<>
kets, and give an impulse to the extension ~f|j U ' 1
the most important of all the departing t s us IS ’
tionai industry, to which no man can prnvr*' ' 3
limits; and, if one of the conditions of the// f f y
vantages should be a low rate of profit to [f )e L m ‘* j
chant and to the manufacturer, they n,., . * I
r - . • J ,l! U»t look
tor a compensation in the increase of their r
ness, and, above all. in the exemption from r Uk*
which are insepa - able from high prices and fin 3
lusting markets.
The N. E. Boundart.—A letter in the Bay
State Democrat, dated “Bangor, Feb. 14 » g \ p
that notwithstanding Mr. Fox’s denial, it is a fJ*
that the English have increased their force, and K
erected new fortifications, near the disputed terri
tory, within a short time.
Consignees per South Carolina Rail Kcad
H.Ajlburg, February 28, ]S4O «
Stovall, Simmons N Co; T Richards; I s Beers t-
Co; P Carre; W K Kitchen; W L Jackson; 8 Clark- ■
W Hatticr; Kirkpatrick i (o; C, T I'ortic; A yi’ |
Kenzie; J E Thompson; A Green; P F Eve; Turn/
fc D’Antignac; Hand k Scranton; H VV Fore- fl
Clarke, Me I'eir & Co; T Dawson; II R Coo’;- I p ft.l
Benson; G P irrott; Dickson &S; J Levy. '’ ‘ ft
COMMERCIAL. *
Latent dates from Liverpool, Jan.'] Ilk
Latest dates from Havre Dec. 29 Hi
AUGUSTA MARKET. I
Cotton The excitement which existed in our I'
market two days ago, in anticipation of tlie recep- -
tion of news by the New York Packet which was B
repotted below at tnat city, has subsided and the S
market lias for last two days assumed a very quiet j
aspect, and prices have rather receded from our J
quotations on Thursday morning. This is perhaps
I attributable to two causes, the abatement of the
excitement, and the high price demanded by the I
Liverpool packets at Savannah, which are Id a &
Iqd. Ine latter has had probably q ite as grc?t In
an influence as the former. Holders manifest J|
same disposition to sell, and buyers do not take fe.J
hold so freely as at our last quotations. The ar
rivals are small, and we now quote ok 10 Si as ex- ft
trernes of the market.
Ordinary to middling, 5A to 7
Fair, 7i to 7|
Good fair, g
Prime and choice, * gl
A choice lot in squaie bags might comm md
cents.
Freights —To Savannah 75 to 100 cts per bale.
Groceries —Since our last notice of the market, 1
the trade has been unusually dull for sca-cn. mere Jb
so perhaps than at any former period in Febuarv '■
and March. V* e have therefore no changes to I
note. The market continues well supplied with If
almost every variety, and sales are low lor cash.
Exchange. —On New-York at sight, 7 a 8 per
cent, for current funds; Charleston at 4 asper I I
cent, Savannah 1 a per ct.; Phi!adelphia2 a 3per i F
rt.; Lexington, Ky-. 1 per ct.; specie commands 6 .
per cent, premium.
Bank Notes. —
Savannah Banks, 1 per cent. prem. 'Hi.
< olurabus Insuirnce J3 5 k ] « « ••
Commercial Bank, -Bacon, 1 “ “ “
Mechanics’, k - ( Augusta.) 6 “ “ “
Agency Brunswick, “ 6 “ “
Planters’ and Mechanics’
Bank, Columbus, “ « dis. L I
Mi Hedge viile Hank, 2H “ “ 11 K i
Ccmulgee Bank, 2*” 4£ “ 4 R
Monroe Rail Road Bank, 2k “ “ 5 J
Hawkinsvil'e Bank,
Chattahoochie R. R. & B’k f
Company, po “ “ “ wit
Darien Bank, 16 “ a
Bank of Rome, 25 « « “ lip
All other Banks now doing business, at par. E
Specie Failing Banks. —Mechanics’ Bank, Bank I
of St. Mary’s, Insurance Bank of Columbus, Com- |
mercial Bank of Macon, and Brunswick Branch it i
this city.
MARINE INTELLIGENCE.
Savannah, February 26. «p
Cleared. —Biiip Balance, Browning, Liverpool; |
brig Oiethorpe, Sannors, Havana.
Arrived Steamboats Erin, Levy, Augusta;G |
mar. Creswcli, Augusta.
Went to sea— Ship Evergreen, Henry, Liver- ■]
pool. J
Charleston, Febfuxiy 27- f
Arrived yesterday. —Line ship Leland, Milkvl
Boston; brig ( ommaquid. Sens, Boston.
Cleared. —Ship Almira. Weeks, Liverpool; bug K
\ ictiess, Clark. Hamburg’ ; Br brig Fame, t’-alleo* 9
line. West Indies; schoaner John Alb ne, Hswes, i
Mat i zas.
Went to sea yisterday. —Brig Arabian, Liver* I
piooi; C L brig Dimon, Mathews, New York; schr. 4
Ainer Patton, TJiompson. New York; schr. Daniel j
W’ebsler, Weeks, Philadelphia.
B. H. OYERBV ,
attorney at law,
~' 3 Jefferson, Jackson countylE,
. bj L)r. IV. FLiy, T offers bis services to the c |*
tizens ot Augusta in the different branches cf i’-B |
profession. He may be found at all hours at the 1
i ate residence of Mr. A. M. Egerton, second yl
trom the corner of Mclntosh and Remold streets- R|
r.c v 29 " ly
Cj* To TUE LOVERS OF THE ARTS" 9
Hie Paintings at Mr. Richards’Drawing Academb I
(Masonic Hall.) will hereafter be opened to vi- 1 *
tors, every Saturday afternoon and evening , f- 9 ® yjR
2 o’clock until 9 o’clock p. 31 At the roo»s y
will be well lighted. ° dec 19
(Ij" EXCHANGE ON NEW YORK — M sight) fl
and at one to tw ty days sight. For sale by
nov 23 GARDELLE & I
fc.T’fV. G. NIMMO, General Commission Met*
chant, office on Mclntosh street, next door tot.’-
Constitutionalist. nov 7
IKr BENE VOLENT SOCIETY.—For the b ene ' I
fit ol the sick poor of Augusta and its vicinity i
The visiting committees for the ensuing month, B
are as follows ; B
Division No. I.—James Godby, J. VV. Meredith, ■
Mrs. Crump, Mrs N. Jones. . , #
Division No 2.—W. H. Crane, W- F- Pcmbct- K
ton, Mrs. 'J’-a-: iafarro, Mrs. M. A. Holt. I
Division No. 3. —E. Latimer, James panto* ■
Mrs. B. McKinnie,Mrs. Julia Snead.
J. W. WIGHTMAN, Secretary. B