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CHRONICLE A VD SENTINEL. AKil S T A . THURSDAY MOR TING, OCTOBER 1. FOR PR IDENT, WILLIAM IIENJ Y HARRISON, Os C io; The invincible Hero of 'ippecanoe—the incor ruptible Statesman—th inflexible Republican— the patriotic Fanner o< Ohio. FOR VICE-r ESI DENT, JOHN T C L Ell , Os Virginia; State Rights Republican of the school of ’93— one of Virginia’s noblcsi sons, and emphatically one of America’s most: gacious, virtuous and patriot statesmen. FOR ELECTORS OF PRESIDE? ' AND VICE-PRESIDENT, GEORGE R. GILME t, of Oglethorpe. DUNCAN L. CLINCi , of Camden. JOHN W. CA’IPBEI L, of Muscogee. JOEL CRAWFORD, f Hancock. CHARLES DOUGHE TY, of Clark. SEATON GRAN TLA iP, of Baldwin. ANDREW MILLER, )f Cass. WILLIAM EZZARD of DeKalb. C. B. STRONG, of B b. JOHN WHITEHE At of Burke. E. WIMBERLY, of ' wiggs. The Elet ion. Below we gite the ag regate returns from fourteen counties, which a ; all we kwe yet re ceived. If the grin in tho: ) to be heard from is in proportion to those aire. y received, we have carried’eur ticket by a majc |ty of 3 to 4000 votes. That we have succeeded i e have no doubt— and should we fail, of which w have no fears, we are confident of success in Not mber, when old Tip takes the fieid. The following is the rggr ;ate result in the coun ties of Richmond, Coiumb Taiiaffeio, G.eene, Burke, Clarke, Jasper, Moi in, Warren, Hancock, Wilkes, Baldwin, Butts an Lincoln. Dawson, 7187 Colquitt, 4256 Habersham, 71-67 Cooper, 4263 Alford, 7126 ; Black, 4227 Msbet, 7170 Campbell, 4184 Warren, 7132 : Hilyer, 4210 king, 7142 Ivvrson, 4194 Gamble, 7140 I Lumpkin, 4176 Meriwether, 7102 ’ Patterson, 4172 Foster, 7134 Pooler, 4176 Merriwether our lowest mdidate, is ahead of Cooper their highest 2539 rot i —ln the same coun ties last year Dougherty bea McDonalad 2104. We have therefore gained 7 j upon the vote of 1839. We have gamed 11 membiSs of the Legislature and lost one. E The following aie the onl? returns received, i n addition to those published lesierday. & |C3 C 3 X -'t et c » =r % c- g g ?T n U* 5 o 2. “ 3 f’ 3" O 3 • ; ? pr -f Habersham,. .464 582 513 343 472 294 Dawson, 464 556 5 >0 337 476 294 Alford 463 582 5 18 337 472 295 Ntsbel, 465 585 SlB 342 474 294 Warren, 465 582 5 :4 334 471 294 King 464 582 2 8 334 472 294 Gamble, 461 582 2 8 337 471 294 Meriwether, ...462 582 2 8 330 469 294 Foster, 462 582 2 0 337 474 295 Black 383 337 3 8 325 259 152 Cooper 381 336 3 6 323 248 152 Colquitt 387 337 3 8 320 262 152 Campbell 380 336 3 3 322 253 146 Hillycr, 378 334 3 6 321 257 149 Iverson, 377 334 3! J 324 255 151 Lumpkin, 379 337 3 3 313 252 150 Pooler, 379 334 3 6 322 254 147 Patterson 379 336 3 6 317 254 150 Lcgislutun . Baldwin. — Williams. —Me ombs and Ham mond. Butts. —Lindsey.—Lawson, Saunders Burke.— Harris. — Evans, C rswell, Mulkey. Clarke. — Vincent — Moore, ichardson, Stroud. Columbia.— Dawson.—Jones Robertson, Burt. Hancock. — Bonder.—[lhomo Hudson, Hitch cock. Jasper.— Glover. — White, P, ston, Robinson. Morgan— Floyd.—Foster : <artin, Mann. Richmond.— Miller. —Jt a i, Rhodes, Craw ford. | Lincoln. — Moore. — Haguina> l Hardy. An Honest Editor.—ThephiiladeiphiaSen tinel, V. li. says it is quite easy to say that Fair field is elected in Maine, but, s vs the editor, “if would be lying,” and “election like murder, wil out,” and adds, “if we have 1 en thrashed in Maine, the seoner wc know it : « Letter.” The Sentinel is not in the secrets ©lithe administra tion, whose maxim it is, not t| admit a defeat until elections in other stales hale taken placo. Mr. Editor—l avail myselfß>f the opporluni. ty afforded me to subserve thecißsc of friendship, while I invite the attention 1 an exhibition which will be of unusual intcresfiio all. I allude to the exhibition at the Mason! Hal! this eve ning of a memento of the greet Sounder of Geor gia, Gen. Oglethorpe,—a aame lliich can never fall insensibly upon the ears of iStrueson of our soil. Those who arc acquainteiEvith the estima ble lady, who thuspiesents hersi fto the public, need no assurance that this eshfiticn will lose any of its interest by the additit i of the history promised of this relique of olden femes. A sketch of the stirring events of 1732 mist be rife with associations that will appeal stre* gly to the pa triotic feelings of every Nativ Georgian. Chatham County Ele lion. Savannah has redeemed hers« f nobly. We have never seen so orderly and qt et an election. It is now 4£ o’clock, P. M.,and i it the first in stance of riot or fighting or uproaj of any kind, has occurred. Wc have hardly s.in an intoxica ted man on the ground. VVecou|uend all men , i of all parties lor this nice regard of law and good order. We know not whether we are beaten or not, but the supremacy of the laws has triumphed and this is a triumph worthy of being recorded. Whatever may be the result, we are happy to sav that the proceeding* have all been orderly hit hei to. The disgraceful seems witnessed at our last; election have not, we are happy to say, been repeated. P. S. 6 O'Clock. The polls have just closed, ami it gives us pleasure to state that tne same quiet and good order which has characterized the election continued up to the last moment. I here we r e 1186 voles polled—at the M unci pal election last, month 903. We were then beaten by an average majority of 82. The votes will be coun ted Ibis morning, and from the large number poll ed, we are no doubt beaten by a greater majority thaa at the last election. —Savanah Republican of Tuesday. He ah a Van Bures Abolitionist.—Thom as Mohr is. a late Van Bureu Senator from Ohio, I and who is a zealous abolitionist, thus speaks of General Harrison and Mr. Van Buren as connec ted with the subject of abolition. It will be ob served that he says:— ‘‘Gen. Harrison , lam well convinced, is in feeling and principle, a more devoted proslavery man, than Mr \an Buren, who I believe in feeling is anti-slavery.’ “It may be true that Abolitionists were grati fied with the selection of General Harrison as a candidate for the Presidency ; if so, it was be cause Mr. Clay was rejected, not that the lot fell on General Harrison. lam well satisfied that neither of those gentlemen ought to be supported by Abolitionists. Mr. Clay’s famous speech in Congress on the slave question, has left them without hope as to him. General Harrison, lam well convinced, is in feeling and principle, a more devoted pro-slavery man, than Mr. Van Buren, who, 1 believe, in feeling is anti-slavery. I ven ture these opinions now, without giving any rea- I sons lor them, which I may however do at some j future day.” Wiiat do our southern friends think of this?— If Mr. Van Buren is in feeling an abolitionist ought they to trust him!—Wilmington Adv. Trick of the Globe. — A late Globe falls upon another expedient to disparage Gen. Harri son’s military character. It quotes from Mr. Mad ison’s message to Congress, in 1814, a long ex tract, in which honorable mention is made of Genera s Brown, Scott, Gaines and Jackson, and nothing is said of Gen. Harrison—and this, too, while, as the Globe asserts, Mr. Madison was summig up the eventsof the war.” The Frede ricksburg Arena, commenting upon this charac teristic trick of the government organ, says— “ The Globe is guilty of falsehood, both positive and negative. Mr. Madison was summii.g up the events, not of the war, but campaign of 1814.” And the Globe, in its quotation from Mr. Madi son’s message, with a cunning worthy of a quib bling pettifogger, omitted a paragraph which would have exposed its contemptible artifice. That paragraph commences with the words, “In the events of the present campaign ,” Ac ; and the omission of Gen. Harrison’s name therefore is no evidence of disrespect, because he was not in semco during that campaign. But turn to Mr. Madison’s Message #f 1813, in which he announces the deliverance of the Western fron tier, by Gen. Harrison, “the officer commanding the Northwestern arn.y,” who “rapidly pursuing the hostile troops fleeing with their savage asso ciates forced a general action, which quickly ter minated in the capture of the British and the dis | ersion of the savage force. This result (says Mr. Madison) is signally honorable to Major Gen eral Harrison, by whose military talents it was prepared,” <fcc. The Glebe’s trick is always too shallovr, even for that print. But if ®ur readers desire further authentic testimony in favor of Gen. Harrison, we refer them to Gen. Gaines.— Lynchburg Virginian. Fr-jm the New York American of the 6th. 3lr. Webster’s Great Speech at New York. The New York American of Tuesday evening, says the Merchants’ meeting on Monday, at the Exchange, surpasses any thing ever before wit nessed n this community. The shipping in port were all decorated with their flags for the occasion. Jonathan Goodhue presided, assisted by twenty six vice presidents, and four secretaries. Mr Webster’s speech, continues the New York American, which we have carefully reported, needs no commendation from us, though it will furnish us with topics of fumre reference. The resolutions were introduced by Moses H. Grinnell, who, having prefaced them with a few sti iking and stirring remarks, read them at length; and forthwith introduced Mr. Webster, who, on rising, was received with deafening cheers. When these subsided, Mr. Webster thus spoke — I am deeply sensible of the honor aud of the re sponsibilily of this occasion. Honor it is, certain ly, to be requested to address the merchants of N. York, a > dy of as much intelligence, capacity and respectability, as any in the world ; responsible it is, to address such a holy on subjects whichjnany of them understand scientifically better than I do, and with which all of them have more or less practical acquaintance. The quest : on of the currency of a country—al ways important, always somewhat complex—is, under present circumstances, the great question of the time?. I do not shrink from expressing my views on this subject here to-day. lam in public life, and since, on this question, more than any other, pol itical results are likely to turn, I have no hesitation in speaking. The state of the curren cy is the principal cause why one Administration is about to go out of power and another to come in, ahd these circumstances lead me to premise what 1 have to say to-day, by remarking, in the first place, that 1 propose to speak for nobody but my self. My general opinions on subjects of currency are well known, and as it is now highly probable that those who have been long in opposition to the Government, will be called upon to propose reme dies, it is the more incumbent on me to repeat that, what I say to-day, I say for myself, and for no one else. Especially in regard to the candidate whom we ail support for the Presidency, I have no more authoiity to speak for him, nor other means of learning his opinions, than you all possess. I will proceed, thfn, to state some general pro positions which I believe to be founded in true principles and sound political economy, suited in their application to our country. In the first place, I hold the opinion that a mixed currency of gold and silver, and of paper redeemable, and steadily redeemed, in specie on demand, is the most useful and convenient currency for this or any county, and this is the currency we have used and em ployed heretoloie in the United States; the idea of an exclusive metallic currency, being, in my judgment, the mere fancy of theorists, or used as an instrument of popular delusion. In the next place the management of this mixed currency 1 as its difficulties, which it requires both skill and care to avoid or overcome, as has been seen in the experience of Great Britain, the great commercial country of the world, as well as in the United States. There is, doubtless,danger ®f sud den contractions and expansions, in such a curren ciirrency. and yet, where it is all metallic, as in Cuba, or in some European countries, where there is chiefly a hard money currency, there are fluctua tions in prices, disasters in trade, and mercantile failures, perhaps as often and as injurious as in countries of well regula:ed redeemable paper cur rent., Then, c«ain, I hold that the i egulation of c ur rency ( wlu ther mixed or metallic )—p. just and safe supervision over that, whatever it is, that consti tutes money, the medium of exchange —necessari- ly appertains to Government; the regulation of money and what takes the place o r money, being, in my judgement, an essential prerogative of Gov ernment. The operations of banking are two-fold, and every bank and banker among us performs two offices or functions. It discounts commercial pa per, (notes;) in other words, lends money ; and in this business individuals (bankers without acts of incorporation) may engage and compete with them and this constitutes simply a bank of discount and 1 deposite. Bt t oik banks aie ;\l. banks of circulation 9 as well as deposite, and issue their notes as part of that circulation ; and when they discount notes, they pay the amount in their own tills, and thus, by tue amount of such discounts, add to the quan tity of money in circulation ; every such operation being by so much an inc ease of the whole amount of the circulating medium. Hence it comes to pass, in the absence of any Government supervi sion and control, that the wisdom and discietion of regulating, at any time, the amount ol money circulating in the community, is but the aggregate of the wisdom and discretion of a multitude ol oanks, all acting without concert, without any su perior controlling power, and each for its own in interest. Such a regulator or regulation ol the currency —such a mode of determining what a mount of circulation shall be furnished to the coun try, must necessarily be most uncertain, and can not bus be mischievous. I look upon it as a duty of the Government, by the exercise of all its Con stitutional power, to control the issues of State in stitutions, and guard against the evils of excess. I an; of opinion that Government may exeicise such control and supervision, in order to restrain excess of issues by the local banks. We all know that an institution with the Gov ernment sanction, and issuing a currency, as good in one part of the country as the other, with a competent capital, and acting as fiscal agent ol the Government—we ail know Irom theory, and better still from experience* that such an institution is capable of controlling the circulation ol the coun try, and keeping it within limits. Such an insti tution acts beneficially, moreover, by creating a currency that is of general credit every waeie. What we need, wiiat we must have belore the day s of prosperity can return, is a currency somehow derived—somehow sanctioned —that shall have value on the Mississippi and on the Canada fron tier —at the North and at the South —in every' town and hamlet of our country. How is this to be got ? liefer to the objects for which this con stitution and Government were formed, and you will have the answer. How is it that w< see that local banks, however well their capitals are secur ed —however well their affairs are administered how is it, that all attempts hitherto made to give to the paper of such banks a general national cha racter and circulation, have failed ? The cause seems obvious. We have a government that makes us, and means to make us, one people, as to our commercial pursuits. In other respects, we are citizens of twenty'-six different States, Each one of us knows, and is bound to know, twoGovern raents. In the State Government, each resident under it is bound to understand its laws and. insti tutions. It has banks, he knows the principles on which they act, the security for their fun-dls, and their management —and trusts them accordimgir. But out of the State, beyond the reach of those who are bound to know all about these institu tions, they possess no general confidence. So in the United Stales Government, all are led ta in quire and know their rights and duties under it, and institutions springing trom it have confidence and credit throughout the United States. Eve*y citizen trusts in acts emanating trom Congress, a# from a body which he knows, which he has a voice in constituting and may control at the polls. He confides, therefore, in the General Government as. to matters within its contiol, as he does in his State Government on subjects where it is supreme.—But the cause is different when a man is called on to take the noteofa State bank,about which he knows nothing —net even indeed, whether it is a specie paying bank or not —nor to what control and regu lations it is subject. Therefore it is, if yon take, at this day, a note of one of your own specie-paying Banks well admin istered, and of unquestionable credit, and put upon it 40 good endorseis —a note from this great city, admitted to be at the head of American commerce and offer it on some distant frontier, that —such is the kabit of looking to some national impress, on what is intended for money —it will not be receiv ed. What stronger proof can be given of this than in the actual state of things ? Your banks pay specie—those of Pennsylvania and further south, do not* The United States bank ol'Pennsylvania does not. So that the paper of these banks is here in your stieet at a discount of 4 per cent. Yet, if, you go to Alabama or Mississippi with a New York note and a United States Bank i ote, the latter will be preferred—because, although not redeemable in specie, an odor of nationality'hangs round it still, and clings, to it,although wholly disconnected from the nation. A currency must have some national impress, in order to obtain general circulation, and, in my opinion, by the adoption of some general sys tem united with our local institutions, a currency’ might oe issued, hotter than has ever existed else where. Our State banks—those of New England,, which I know most about, certainly are belter adapted to the purposes of banks than the joint stock banks of England —and we aie competent, if we will go to the work wi*h sound judgment and honesty of purpose, to constitute an institution of some sort, I say not what, capable of exercising, more certainly’, beneficial action on the currency,, than the Bank of England. I do not mean to say there is only one mode, or only two modes, of accomplishing this object. I do not say that a bank is the only mode: but I do say that it is indispensable that the currency, or a portion of it, be nationalized ; and this I hold to be essential to render it proper for the great business of exchange and circulation. Bull shall be asked,peihaps,what is to restrain a national institution from creating excess ?—who shall guard the guardians ? —who keep watch over the sentinels ? The last twenty years have been fruitful in rich results of experience both here and in England. The world has learned much from them. There are modes, in my opinion, of re straining a national currency, however issued, from running to excess. The first of them is ea tire publicity as to the amount. This is more im poitant than may at first seem. There should be daily or weekly statements of tiie issues, so that when prices rise or fall, the merchant may at once, by referring to the statements, peiceive whether it is the natural result of supply and demand, or the ! consequence of conti action or expansion of thecir j eolation. Such publicity is beneficial in a thou : sand ways, as it subjects the institution to the supervision and control of public opinion, which thus acts upon the nower that in turn is to act upon ail the rest. If this Government shall ever be brought to consider the adoption of such an in stitution again it should be rather as a bank of is sues than of discount and money-making, and to the end that its managers should have no tempta tion of interest to issue to excess, all the earnings over a stipulated amount should be paid into the public Treasury. It has seemed to me that the Bank of England adopts in difficult circumstances, an erroneous rule of judging of its position. It looks mainly to its discount line, which, as a mere lender of money', is well enough ; but in issuing a currency ; it is a false mode of judging. The true object of inquiry and solicitude, should be what propurtion the out standing paper bears to the in-lying specie. The bank maybe peifectly solvent —nay, rich —fro a its large amount of bills receivable, of which pay ment is anticipated ; but this does nut prove that the bullion in the vaults is in a just proportion with, the issues afloat. There arc undoubtedly' difficul ties in tne way of absolutely limiting these is sues, yet something may be done, for it is one of the advantages of a large institution in credit, and. wiiose piayer is not likely to be suddenly returned upon it from momentary causes, that in times of embarrassment, it can, by libeial issues, materially aid the community —yet some limit, some general range within which the institution should be con fined, seems indispensable. I have not said, and do not m„an to «ay, that one or other of these modes of accomplishing the object in view is indispensa ble —but nevertheless, 1 recall to you that Presi dent Jackson, in his Mes : age in 1832, did say, if he had been applied to, he could have furnished the plan of a bank that would be free from all the constiiuliona! objec ions urged against tire Bank of the United Stales ; and, therefore, I say it is prac ticable, it we of this generation are competent to accomplish what Gen. Jackson said he « ould do, to devise a bank that shall be free from Constitution al objections. Having thus stated what I understand to be the principles established by the Constitution, and sanc tioned by experience, all we can say now is, that if this Adminstration will not adopt some one of these measures—will do nothing to establish a cur rency, or give the impiess of the United Stales to a paper circulation—no uniformly valuable curren cy can be obtained. Mr. Van Buren declares Con gress has no power in the premises, and he refuses to recommend any measures having such tendency, because the Constitution gives him no power. It is difficult not to express astonishment at what seems the presumption ol such a declarat.on. From the very foundation and cradle of the Kepublic, those who named the Constiution, those who re commended it to the pcopTe, and those who were early called to administer its functions, for forty years adopted a system, which has been since steadily'followed up—sanctioned by the Supreme Court —approved by the People— and now, at this time of day, a gentleman stands up, and disiegard ing all the national, legislative, judicial and popu lar sanctions, says, I am wiser than all these, and I say there is n* such power in Congress. He says the Peop’e have decided against it. When did they decide ? He says Gen. Jackson uecided against it, and went into re-election on that ground, and being re-elected, that the people sanctioned his de cision. But Gen. Jackson himself, said, that although against the Bank of the United States, he could de vise a Bank of the United States that would not be objectionable ; and it would be quite as sound argument to say the people re-elected Gen. Jack son, because he was in favor of a Bank of the United States, as because he was against the Bank of the United States. But, in truth, Gen. Jackson was re-elected, not because of his opposition to the Bamc, but notwithstanding that opposition ; he had built up a partv which lus strong arm caused to bow down, and he might have destroyed many more things as useful as the Bank, and still have been re-elected. But Mr. Van Buren thinks he was elected be cause of his opposition to the Bank. I enter not into the causes of his election, though 1 am inclined to the belief that if any one ever came in under power of a Will and Testament, this gentle nan did so. But it is pretended that it would be a fair inference, from the re-electian or Gen. Jackson or the election of Mr. Van Buren, that the nation decided against the practice of V\ ashington and Madison, and the experience of half a century, if authority can determine, we have that ot both these great names —but you can get none of those who sustain the new doctrine to answer t* the au thorities furnished from the message of President Madison—though you should quote them from sun rise to sunset in the longest day- of the year. I have, in my place in the Senate, referred to and quoted passages from these messages,—but answer there was none. When the Bank was killed, or permitted to ex pire without hope of resuscitation, the Adminis tration virtually subjected the whole business of the country to the rack. Its commerce, shipping, fisheries, manulactuiing and mechanic arts; were all put to the stretch and torture of experiment; they practiced on it —tried curious and ingenious devises, —as if such inteiests, instead of being faithfully cherished and guarded, were only to be used as objects of speculative investigation. But Gen. Jackson said he could make a better curren cy by aid of the Btate Banks. Bome ol us there were who maintained that this was not possible, that these institutions were not adapted to nation al purposes, and that, however well managed and however multiplied, they would be, after ail, only small aims, and not artillery. In 1837 the system exploded. The Administration did not expect it, and aid not then look io a Sub-Treasuiy any more than they now look to an eclipse —though of a political eclipse, they have probably some misgiv ings. They had confidence in the Deposite Bank scheme — ut the explosion came. What then ? Within a few days,neai this spot, the ablest de fender and champion of the party, Mr. Wright, asked what could you expect Mr. Van Buren to do ? —He could not go back to the United Btates Bank, w hich he had rejected, nor to the Deposite Banks he had recommended, and which had tailed. What then could he do, but recommend the Sub- Treasury ? The dilemma c uld not be escaped by departingfrom the settled and successful policy- of 40 years. He took back quick enough the opin ions he had expressed about the desposite bank system as good, but he took not back lus opinions respecting the Bank of the United States ; and therefore the Snb-Treas ry was resorted to —a measure that avowedly withdraws the protection of Government from the Currency of the country. Moreover, in the first Sub-Treasury bill theie was no specie clause inserted, but finding that it was likely to fail for want of voles and it appealing that several gentlemen who had been vchemently oppo<ed to Gen. Jackson, with Mr. Calhoun at their head, would not support it unless the specie clause w-as introduced, —it was introduced, and in this form the bill was canied and then was rai-ed the shout ol hard money, hard money ; and thus again was the Administration driven into a measure it never contemplated. Thus they went on plung ing from one disgiaceful and disastrous experiment into another—the country a ways the victim. It is proper enough, and no great confidence of self-complacency, to say, that some of us never Jet a month pass by witnout reiterating that the De posite Bank system must fail; and how were we answered ? We wete held up as the enemies of these banks, as auli-Statc rights, and as aiming at a great Federal Institution, to ride over and con trol the State Insitutions. What happened ? The system exploded —and then these same parties turned round and reviled what they had supported denounced these Stat • banks as odious monopolies leagued with the opposition, and not much netler than British Whigs, and how ; and when we, who thought the bankssufficient for the purposes for which they were chartered, but not adequate to na tional functions.—endeavored to shield their rights and see justice done them, we were told we were leagued with these State banks, and stimulated by- British goid disliibutiiig through worthless cotpo rations. Now, I ask, what confidence, as merchants can you place, in this Administration ? Do you see anything they w ill or can do to restete the country- to its prosperity ! (No, No, from all quar ters.) That answer coincides with my- opinion, for I believe they have di-qualified themselves by turning their backs upon their duty. It appears to me has trea ted the Slates in the maa^Pt their affairs muth as it has duced them into and then turned round and for it. Commencing with the Message ol the President to the last ses sion, through the Tieasury Report, Mr. Benton’s resolutions, and Mr. Grundy ’s Report, and the ad ministration press, there seems a sys emraatic ef fort to injure the character and credit of Stales that have undertaken large internal improvements. They are represented as much injured, burdened with useless railroads and canals, and as having in curred debts, by the issue of bonds, which it would be difficulUto extinguish. Let us see under what circumstances these debts were contracted. A ftw facts, dates, and figures may be important in tills inquiry. And first, I here to day in your presence charge upon the ad ministration of the General Government the great expansion of paper money, and its sudden con - traction, both so fearfully deran.-ing the affairs of the country. 1 preceed to prove this. Togo Lack no further than 1832, when the Veto setted the point that the United States Bank would net be re-ehartered, we will take the years by series of tens and fives, and trace the creation of banks.— During the 10 years from IS2O to IS3O, only 22 new banks were chartered in the United States, with an aggregate capital of tight mil ions. Dor ihg these ten years, the Bank of the I niled Slates was in operation, and no one doubted tiiat it would be re-chartered. In the ten years from 1630 to IS4O, not less than 348 banks were chartered, against 22 in the preceding ten yeais, and they added 268 millions to the previously existing bank ing capita], instead of 22 millions as the preceding ten years. This remarkable expansion of bank ing capital was during the charming and successful reign of the Experiment. But it was not only by the means of banking capital that expansion was encouraged, for after the extraordinary pro ceeding of removing the it was made the duty of ail deposite banks to lend money free ly to th.- merchants. Secretary Taney in Septem ber, 1834 told the banks it was their duty to dis count frt ely, and that the money of the govern ment should be applied to mercantile uses. Solar was this pushed, that a cashier in the street said “ he hardly knew what to do. for he was ordered by government to lend more money than he knew how to gel security for.” It was then from ihe multi plication of banks, ami of discounts by order of the Treasury, than the expansion ensued. It may be said there were expansions and contractions under the United Stales Bank. No one denies it; the administration of that bank was not always perfect; but take the half century during which we had a National Bank, and it was more free from fluctua tions than any peiiod since. The gentleman whom I have already quoted (Mr. Senator Wright) said in his speech hete, he could not go back to the first United S f ate? Bank. Why not ? He finds two or three instances under the several banks in which evil occurred, but he does not attempt to disprave that during., the existence of the were more free Irom fluctuations titan since. But in the midst of this expansion just exp’ain ed, came the specie circular, which with other measures of Government, produced a violent re action in the country. Now, to recur to what I was speaking of, under what circumstances, and at whose recommendation, did the States commit the impruderce of getting into debt. You hear now of T .‘0 millions of State debt. When contracted and by whom induced. Look at the facts. From 1820 to ’25 the State debts were about 13 millions —from ’26 to ’3O, about 13 millions more. From’3o to ’35, 40 millions was added. But the expansion of the'state banks, and the accumulation of capital placed in their hands, developed their consequences freelv, in ’34 to 35, as already slated, 40 millions was added to the debt of the states from ’35 to ’4O, 100 millions ! more were added. So that this vast amount of debts were contracted when currency was redundant, here at home, and the deposile banks were lashed on to lend to all who would borrow. Tnc whole people were excited by this extra ordinary redundancy, brought alout the action of Government, to all soils of speculations, and the contracting of those debts, for which Stales are now reviled by the party in power, from the head of the government down to its lowest agents. One halt of the whole amount of those debts was created from 1535 to 183G—ICO millions in the midst of the glow andflow of the Experiment; in two yeais 100 millions of debt was thus contracted ! The cre ation of State debt kept pace with bank expansion, and bank expansion with the creation of banks and the creation of new banks with government experiments with the most extraordinary delusions that ever misled a nation. \\ bile cn the topic, I must say something ol one analogous to it. One of the charges of the day, wholly false and unfound ed, is, that the opponents es the present Adminis tration have come out or desired to come out, for the assumption of these State deAs by the Genei al Government. 1 his charge began in the Senate ' of the United States last year. Let us look at this. 1 have said that government encouraged the States to incur debts and issue bonds, by making money so abundant. But they em ouraged this in another mode. It was a favorite project, after the remov al of the deposited, with certain persons in and about the Government, to invest any surplus or un used revenue of the United States in these veiy State bojids. Ido not mean to say this is assump tion, but to prove that the General Administration stimulated States to Usue bonds, and endeavor to give them all the credit they could. In 1536, we took up, in tiie Senate, the bill for distributing the Surplus Revenue. This was not the measure of the administration, but rather en ded against its wishes. As early as May 1536, Mr. \V right, then as now, the ablest and mast ef fective leader of the administration in that body, proposed as an amendment, that the Siuplus then in the Treasury be invested in State Bunds, and that whenever any sum accumulated beyond the immediate wants of the Treasury, it be in like man ner invested. Again when the law regulating the deposite banks was pas ed, and the famous 13th section, which provided for the distiibuiion of the surplus, was added to that bill, the sama distin guished gentleman moved to strike out that section, and to insert in lieu thereof a provision that the whole forty millions should be invested in State bonds ! And when the first Sub-Treasury bill was introduced, it, too had a provision for investing any surplus in the Treasury in such bonds. There aie other funds under the control of the General Government which aie thus invested: the Smith sonian legacy, some half a million is about all but a small sum invested in State bonds ; and large sums reserved to provide for stipulated Indiau an nuities, rave been invested in the same way. Hence, it will be seen, that an administration itself, whenever it could make an interest by it— an interest, I mean, with the people—was fore most in encouraging and fostering Slate bonds ; and Mr. Wiight said there was no fear that these securities would be scarce, for States had so many motives for public improvements, and otherwise 0 coaUactdebts, that they woulTpioduce bonds as fast as we wanted them. Now I repeat that while I do not charge this as practi al assumption, 1 do maintain that it was holding up these securities to Europe and the woild as worthy of all credit. And what a pretty piece of business it would nave been if Mr. Wright’s proposition to invest 40 millions in State bonds had succeeded ! If Mr. Woodbury, conscientious and scrupulous as he is known to be, (general laughter) had been charged with thus in vesting this sum, what do you think would have been the rule of selection ? If Massachusetts—l had almost said Maine, but that :s setiled —of Pennsylvania, the States that have, and these that have not voted, had bonds to offer, would it not have been a beautiful business to do, on the eve of an election, to buy such bonds ? But I revert to the charge that we desire or aim at an assumption, and pronounce it to be without a particle of foundation. I do not know the man i:i Congress that entertains the belief that the consti tution permits the payment of the debts of State by the United States, without a consideration any more than the debts of individuals. Such an as sumption as Mr. Benton resolves against, and Mr. Grundy reports against, in an inteiminable string of commonplaces, was never heard of in Congiess ; and this brings me to another point. You have all doubtless heard that a systematic plan of opera tions was set on foot, I was to lake a part, to biing about assumption for the benefit of English capitalists,’land that I went to England in pursuance of such plan, to get up an interest there to bear upon Congress. 1 will tell you all I know- about this. 1 left here in May, 1839, and at that time I had never seen nor heard the suggestion of such a scheme. That was, as you all remember, a period of deep gloom and des pondency for American commerce, and it was nat ural 1 should be spoken to and inquired of by those who were interested in American credit and Ame rican securities, as to the ultimate value thereof; but I assure you, upon my honor, that no English or Europe.m holder of State debts ever suggested to me, or in my hearing, the remotest allusion to the assumption or guarantee by the United States of these State debts. Once only was it mentioned to me, and then by an American ; and 1 replied to him at once that such a seneme was un • onslitu tional,and could not be accomplished without a change in that instrument. On the contrary, the inquiry was always as to the right of the States individually to create debt, and their probable abi lity to redeem it. It was, as I have said before, a gloomy period for American affairs in E igland, and much of the gratification of my visit was im paired by the common feeling of despondency, whii li I could not but share with ray country men. But the Slates nnd bonds in the market, and weie anxious to se 1, ami concerning them 1 was con stantly interrogated. My own State, Massachu setts, had some bonds there ; and the inquiry as to all was, as to the safety of the principal, and the probability of punctual payment of the interest 1 told them, in regard do ail the Stats, they might rely on their public faith, and on their ability to keep that faith ; and it occurred to no one, so far as 1 know, to suggest, that the United States should guarantee these debts. A capitalist, desirous of investing in American bonds, and thus obtaining a higher interest than ihe stocks of his own country afforded, consulted me about the safety of the Massachusetts bonds.— What did Ido ? I gave him a report made in the Legislature of Massachusetts, showing the result of the annual produce of the labor and industry ot that State,'and told him to take it home and study it. He came back tne next day, said he was satisfied, and asked me where he could invest L‘l0,000»in Massachusetts bonds. I named to him the agent, and he did make the investment.— So again of New-York bonds, concerning which >t happened to me to be consulted. I took from my trunk the admirable and convincing report of the resources of your State, made by your towns man, Samuel B. Buggies, and gave it to my visi tor, and with like effect; and so of all the States, as lar as my knowledge went of their ability, and w jth entire confidence in their good faith, 1 spoke without hesitation—and in no instance was any reliance invited oi placed on any tiling other than the separate and distinct resources of the Stales issuing the bonds. What then ? There are in ev ery capital in Europe some persons—a small but active clique—that hate America and Americans and desire to do them injury always. They have presses at their command, whose daily vocation it is to represent the credit of the States of this Union as unlit to I e trusted. There is no mode of miti gating the ferocity of these assailants, and the more they are put in the wrong, the more tenacious are they of error. This press was, t regret to say furnished with new means of carrying on its war fare by publications emanating from this city and sent abroad in great numbeis, to prove that the States could cot lawfully contract debts or issue bonds, and tint the foreign holders of State debts had no security whatever-an I newspapers of the widest ciiculatioa in the world icpeatcd these fab rications. In this state of things, a banker’s house in Lonuon, holding a large amount of Massachu setts bonds, and those of other States, applied i« me as a professional man, to know whether the States could contract debts. I answered yes—that the Mates were as sovereign in this matter as any sovereign Mate of Europe. That correspondent e was published, but it is one you cannot get inser ted in an administration paper—and yet, in sj ite of this correspondence, it is maintain i .. f those with whom I act, are activi that f , i*' I in bringing about an assumption of t? Syst W H tho United States. 01 tlie k debts b I But it seems Messrs. Barings hav* , • I cular, in which they point to an assumr aci f- B circular I never saw nor heard of ti'i Thj I the United States last December - anrt?K retßr " k I hrst herd of Mr. Benton’s ‘* n ’ to M I ton. I wish to repeat, that every ■" t where in any way State debts became t k tUl ' C * *1 of conversation, no English or Europe* 6 I bond holder ever suggested to me I ! binke fo> mg, or caused to be suggested, aav’iii.l h ea■! lion; and the first 1 heard of it Wa ? ° as,l % ; already said, from an American citizen 1 hav e to whom I made the reply already menu Londo o I Conclusion To-Morrow. * ° oe< *' ’ I COMME augusta market? Wednesday Evening, Qctob * Since receipt of Liverpool Cotton accou *‘‘ Steam Ship Great Western, cur market P * r quite languid, with a tendency downwa-j"' ****“ circumstance, together with the gr«n • I of the General Election of the State v Xcitern *at , . c Caused * general suspcn-ion m all business transact! The new crop thus far is rather indifferent T" hope the late and present good weather prove the quality of the growing crop, sales of new' cotton this week were chief! the quality fully fair. In old cotton that we hear; receipts unusally small forth son of thejyear. * sea * Freights —To Savannah,sl » bale- mn , ton, by rail road, 25c # 100 lbs fur square r A p- 100 lbs for round bales. H )*na3oc | Exchange —On New York, at sight far 9 cent for current funds; Charleston at’ —fliW I cent; Savannah 2* p- cent; Philadelphia Q. I cent; Lexington, Ky. ® cent; J Savannah Banks, \ $ [I Columbus Insurance Bank 2 (a) - l( ,prt (s m ' Commercial Bank, Macon, 2 (a) - « Mechanics’, “ (Augusta,) 3$ ®- * „ Agency Brunswick,“ 3i®- .< „ Planters’and Mechanics’Bank, Columbus, .5 „ I Central Bank, ]o®_ « (i ntl | Mtlledgeville Bank, 10®- «« Cl Ocmulgee Bank, 10 ®_ « „ Monroe Rail Road Bank. ®_ « „ Hawkinsvilie Bank, ’ 10®- « „ Chattahoochie R. R.& B’k C0..5 ® _ « „ Darien Bank, 25®- « « Bank of Rome, 40 ® - « « Merchants’ and Planters’Bank, St. Josephs, Florida 5 ®_ « Union Bank, “.. . 50 ®- v « Southern Trust Co. “ 30®- “ « All other Banks now doing business, at par Specie Paying Banks.— Mechanics’ Bank,W ranee Bank ot Columbus, Commercial Hanx of Ms. con, and Brunswick Agency in! T city. MARINE INTELLIGENCE. Charleston, Oct. 7 „ Arrived yesterday —Line ship Lafayette. Ellery, 1 New York ; C L brig Dimon, Sherwood, N. York; I schr Tom Wood, Sy mends, Baltimore. Went to sea yesterday —Line ship Calhoun, Sin- | . ckiir, New York; C L brig Perry, Hamiltor New York. i Savannah, Get 6. Cleared —brig Winkinco, Howland, Baltimore. Arrived —Steamboat Lamar, Crcker, Augusta. Departed —Steamboat Lamar, Croker, Augusta, (fj* Dr KENNON has removed to the new house opposite Benjamin Pyne. oct 3-3tw (j3* Miss MARY A. NEVINS has taken a room in the house owned by Mrs. Barrett, on the North side of Broad street, where she will give LKSSONS ON THE PIANO at sls per month, including 06 lessons, or separate lessons at 50 cents each. oct 3 ts ■ ——— j 03* The exercise of Mrs. BOWEN’S SCHOOL | will be resumed oh Tuesday the Cth October, the \ middle tenement of the Bridge Bank, where as usual will be taught all the blanches of a thorough and refined education with French,Music &.c sept. 21 \v3t 03’ Miss TRAIN will tesiTme her School at S immerville on the first Monday in November. Board can be obtained on the Hill, aug 12 ts QfT Mrs. CHAPMAN will resume her School in Augusta on the Ist Monday in October. sept 23 ’ d&trwlw 03“ E. F. EVE, has moved to Green streetjud below Mclntosh street. oct 2 3t (3 Dr. ('. B. DILL offers his prof.-ssioml ser vices to the citizens of Augusta and its vicinity.— He will be found at the Drug Stoic of J. L. Houston, sept 8 1m q 3 The Subscriber has taken an office in airs. Camfield’s buildings on Jacksi>n-stre€t,ncxtuoorto the one foimetly occupied by Judge Longstreet, where his p;okss;onal services can be at all limes, commanded He intends to re-commence, on the first Monday in November, the LAW BCHOOL, which he formerly conducted, on the same plan, and the same leims, as before. oct 2 dlwwlm WM, T. GOULD. C3 L'r. GARDNER , tinmcrly resident surgeon n the New i oik Hospital, and physician at Belle vue Hospital, New York, tenders to the public kis professional services. Ortice in Washington street, between Broad ard Ellis streets Residence, United iMatcs Hotel, ap 2 03 EXCHANGE ON NEW YORK—At sight, and at one to twenty' days sight. For sale ov ■tov 23 GARDELLE &; RHI.VL^ 03 AUGUSTA BENEVOLEN7 SOCIETY- For the benefit of the sick poor of Augusta. The committee for the present mouth are as follows: Division No. I.—p. If, Mantz, Nathaniel Green, Miss Margaret Smith, Miss Mary \\ ightrean. Division Ao. 2. —W. F. PembeitorqJ.M-Neivby, Mrs. 11. F. Roberson, Miss A. C. Righton. Division No. 3. —John Cashin, James Panton Mrs. Treraiey, Mrs. E. Camfield. sept 7 J. W. WIGHTMAN, Sec’y AUGUSTUS HUES, A TTORNEY A T LA IV, sept o-ly Madison, Morgan county, JOHN R. STANFORD, ATTORNEY AT LAW, j.vl7] ClarkesviHe,r.a. {fy NOTICE. —The Rail Road Passenger Tram between Charleston and Hamburg, will leave 3* follows: UPWARD. Not to leave Charleston before 7 00 an “ Summerville, “ - -S 30 “ “ Georges - *' - 10 0 “ “ Branch vivle, “ - 11 00 ‘ “ Blackviile, - “ - iOO v. »i. “ “ Aiken, - - “ - 300 Arrive at Hamburg not before - 4 o*o DOWNWARD. Not to leave Hamburg before 6 00 a. R “ Aiken, - “ - 730 “ Blackviile, “ - ■ 915 “ Midway, “ --10 30 “ Branchvill “ - - 11 00 “ “ Georges’, “ - -1140 m. “ “ Summerville,“ - -1 15p. M. Arrive at Charleston not before 215 Distance —13d miles. Fare Through —$10 00. Speed not over 20 miles an hour. To remain - minutes each, for breakfast and dinner, and no> longer than 5 minutes for wood and water at an) station. To stop for passengers, when a white flog xi hoisted, at either of the above stations; and also 0 Sincalhs, Woodstock, Inabinel’s, 41 mile T. 0., Rives’, Grahams, Willeston, Windsor, Johnsons' and Marsh’s T, O. Passengers no will breakfast at Woodstock and dine at Blackviile; aoum, will Dreatuasl at Aik« D and dine n Charles-tOK. may 4