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A "little reflection will convince us, that the -Univeriiii substitution of a currency bearing tio 'Intrinsic value, ami represented by nothing ol intrinsic value—mil moreover subject tube in creased at the will of needy men, must produce -one of two consequences. Either the ideal sub stitute will gradually decline, till it becomes worth nothing, or it will acquire a solid basis to -elf, by a gradual substitution of real property for ideal nothings—by the simple process of lending nothing and taking something as security—it. plain English by exchanging rag» for lands, hous es and goods. Kither of these alternatives, is almost equally fatal to the possess ji of property —for it matters not much, whether he is ruined by a general bankruptcy, or by the exchange of hj* property ftir worthless bank paper. It either, liotvever, the latter is the most fatal—for in the event of the former catastrophe, lie may still chance to keep his land, which will again attain to its proper vulne—-whereas, in the latter case, lie gets nothing but rags for his laud, and'when they arowortliless he is worth nothing. To this last and most fatal catastrophe are we approaching; tor it is a maxim, self evident, that as the gains on false capitals are real, they cannot be the gen uine produce of these capitals. Out of nothing— nothing can come ; and of those who possess no thing, nothing can be obtained. Whence then the enormous bank dividends with which the pen- 'pie are. every day insulted ? They come from the men of real capital, and the honest laborer, whose labor is his capital :—they are the aggre gate of the diminution of the wealth of the one, and the hard earned gains of the other,—they are the sum total of a great tax levied on property, & labor by brokers, bank directors & speculators. No wonder then, that the laborers are in want of their usual and customary comforts ; or that the farmers finding themselves becoming the help less and hopeless victims of this pernicious system ol swindling, are every day selling their lands, either voluntarily or from necessity. Kither to invest their proceeds in some newly erected bank foisted through a corrupt I. gislature, or to pay for the loan of money which they h ive frittered away upon expensive improvements, that add no thing to t'icii wealth and comfort, and despeiate speculations that have ended in their ruin. A gentlema . who holds large estates in the north- 1 western part of the state of New-York, related to me the widowing facts, the summer previous to the last. About two years before, lie bad sold several farms at the usual price, and customary periods of payment. The first payment had been made without any complaints, hut in the in terval between that and the second, a Utter of banks had been whelped in the neighborhood, and the poor husbandmen were in a fair way of becom ing swallowed up by the speculations and mono polies, of an upstart race of rag nobility. They o Hie red to forfeit the sum already paid it e would take back the land. They said they wanted to remove to some place, w here there were no banks to eat them up. Alas !—where shall they go to find this asylum from the brokers and specula tors ? The bo ders of the Mississippi, the Mis souri, Illinois, Ohio, Kentucky, and Tennessee, are infested b* tlirs pernicious fry—a ml the depths of tin ; rests swarm with paper banks, that lend ti-air money at par, to miserable dupes, win- pass it away at a depreciation of 10 or 15 per cent. A moment’s consideration will let os into the manner in which this operates on the bor rower Every time he goes to the bank, he loses ten or fifteen per cent, on the money he procures —and in this way his propel tv as the honest (ai mer expresses it, is •* eaten up,” by ten and fif teen per cent, at a time. It may be urged by the ingenious abstract '■ iviners, on the mysteries of financiering and banking, that the farmeis are not obliged to borrow of the batiks ; they cat. let it alone if they please—and for the consequences of his voluntary acts, a man can blame none but himself. The position is true, provided no coax ing or temptation are used. Yet after all, “lead ns not into temptation’’ is the wisest piayer ever put into the mouth of man. Nothing that otters an extensive allurement to folly, imprudence, and e xtravagance, ought ever to receive the sanc tion of a wise and vii ttioiw legislator, whose first duty it is to guard a people against factitious,'am! unnecessary temptations, and shield them from thos 1 arts which running and unprincipled men use to deceive and ruin the simple ami unwary, Unless I deceive myself, I have now pretty clearly proved, by general reasonings founded on the nature of man, which is the same yester day, to-day and forever,—as well as by facts drawn from actui' 1 experience and observation, that the paper svsj^m, is rapidly undermining the prosperity of the lauded interest. That its inevitable operation is to swallow up all the re al property of the nation, as it lias dune in Eng land.* The same consequences will result here. The farmers will become paupers, and the la borers street beggars, or midnight thieves — W liethcr 1 have succeeded or not how ever, in this attempt, 1 hereby invite, the right honor able* of the nation—the lofty ragmen—the right eous fraternity of brokers. bank direr tors, spe culators, lottery office men, legislative converts, and bribery monger c—the bribers and the bribed to craw l forth, ant* club their wits to disprove, what 1 have thus plainly stated. The newspapers w hich arc a3 silei tas the grave concerning the a- buses of the paper system, I dare swear mav be made vocal like Memnon's statue, at the touch of the golden ray. These watchful guardaieu of tile rights <vid li,*erties of the people, will doubt less marshall their columns, il the proper argu ments are applied, to defend th-se calumniated wort, it's, and help tobolstera set tern, so admira bly calr.ui :'#l to further thr great ends of all “ leg. 'i n ib governments”—>egga; v, dependant c and roguery on one hand, inordinate wealth, ir- represr-ibh insolence, ami boundless corruption on the other, • This remark de-ervev most rerioos consideration.— The m ddk -’insse, so lonn’ijiel: . and glory otKng.and. has been swept away by die mot in flood of paper. It is ll is tliathas c..used a fifth part ol the laboring population tol>cc m"p:.i pers;—and winch, if it lasts a little longer, vr.ll' :o are” to that country the ••ancient and venerable” feudal system, in fact, if not in 'arm. I have the sketch •if nn article prepared to shew b. figures that pauperism ha* advanced o* England F-wi pas -u w ith the increase of paper money CONGRESS. MR. FORSYTH’S SPEECH, In Mr. Clay’s proposition to send a minister to Buenos Ayres.. Mr. Forsyth, of Georgia, said, lie should be unworthy of the confidence now reposed in him, St of that he desired to obtain, if lie permitted some, remarks which had been made to pass without reply. The gentleman from Virginia. (Mr. fucker) had said, that my strictures on the cha racter of the Spanish American contest might have been spared ; while the Speaker alleges that l am (be only person who lias been unjust to the patriot cause. Is it come to this, that, on the discussion of measures in this hall, the truth is to be spared ? That our sentiments are to be Weighed and phrases to be minced, least they should fall too harshly on the ear of morbid delicacy ? Injustice! Is it unjust to vindi cate the character of iny own countrymen, degraded by a comparison with persons unworthy rtf a place by their sides ? It is the speaker who lias been unjust—not indeed to the aliens of blood, but to our fathers. He courted the investigation which lias been made; and how bus it been con ducted ? In examining the origin and nature of the contest, 1 have drawn my information from the sources to which he directed our attention.— Have I erred in the statement of any fact, or even colored, beyond its natural hue, any event which lias been related ? Had an instance of either kind been pointed out, the proper attune- ment should be made by a frank and prompt ac knowledgment of the error. Is it injustice to say, that individual liberty is not the object of the Spanish American contest ? What are t^e blessings secured to tne people by the struggle r How have the anrient law s been changed to bet ter the condition of the people ? On these im portant ooiiits we have not been instructed. We have heard of the fertile regions, and formidable armies, and rich commerce of Spanish America; but v. liat is the condition of the people ? Are they the mastc s or the slaves of the revolution ? They are contending for political independence, and have mv most ardent wishes for their success.— The consequence of complete success may be the enjoyment of civil liberty ; mav be«-l am not cer tain that it will. The condition of the people cannot indeed tie altered for the worse. Under any form of government that may be established they cannot be inure oppressed than under the dominion of Spain. If to doubt the most favora ble issue of this struggle be a crime, I am indeed criminal. If to fear that freedom, civil and re ligious, will not follow, be censurable, I deserve reproach. More (ban once in the last twenty years, our sympathy has been demanded for the people of different nations of the South, embark ed on the tempestuous sea of liberty. What na tion lias reached the place to which its course v.r.s directed—the desired haven of repose, securit and enjoyment ? White the hearts of the timid were palsied bv fear, and even the brave appalled bv the terrors around them, some armed chieftain or bigntted priest lias poured out the holy oil of despotism, and bid the agitated waves be still. Who, sir, will venture boldly to predict, that the same scene is not to be acted on the southern continent ? The time has been, when my young heart swelled with emotion at the sound of liberty. Hut these days of youthful delusion have passed, 1 hope, forever. I trust, that I have now learned to distinguish between things and names. With enthusiasm undiminished, and a desire the most ardent for the freedom of all mankind, I am no longer to be duped by glorious titles and endear ing sounds. In the course of a life, not yet ex tended to forty years, I have bad much experi ence on this subject. The generous sympathies of the people of the United States have been of ten demanded, and sometimes felt fur those olio were unworthy of it. In the davs of revolution ary France, age, innocence, genius, and virtue, were indiscriminately proscribed : heads fell by thousands as sacrifices it the shrine of liberty. Consuls were chosen to rule in the name of liber ty. llie First Consul was converted into an Emperor : lie exercised imperial power in the name of liberty. The king of Spain was depos ed by France, and reinstated by allied Europe, in the name of liberty. Napoleon swept, with his formidable legions, half the continent of Eu rope, marking his course with fire and blood ; this too, was iti the name of liberty. Combined Europe precipitated itself, like a terrible ava- 'auclie. on the plains of France, burying under its weight, the pow er and (he glory of France— the pow er, not the glory of France, that is imper ishable—in (lie name of liberty. This experience lias not been without its eft'ect. 1 do not permit my feelings to be excited, much less my conduct to be influenced, by the sound, without satisfying myself that liberty i* something more than a name among those for whom l am called upon to feel or to act. The facts, illustrating: ihe character of the go vernment of La Plata, and the love of its rulers for our fellow citizens and our institutions, are called tales ; and the gentleman from Kentucky wishes to hear both, sides before he forms a defi nite opinion : lie asks for official information from Li Plata. IVhat infatuation ! .Sir.' these tales are the statements of American citizens, of our brethren. Hoes lie ask for confirmation or con tradiction from American Spaniards ? Will he venture to doubt their accuracy on the faith ol any interested foreigner, or foreign government? But, the Speaker has said, that even a grey headed revolutionary patriot, whose cheeks were furrowed by a.,e. Could not address ^ prayer to the throne of God, in behalf of the patridt cause, without my animadversion. Have I forgotten the respect due to venerable age, disregaded the gratitude earned by revolutionary service, and violated the reverence due to the minister of the religion of peace ? I should abhor myself w ere 1 capable of such an ofl’ence. The prayers of all good men rise to Heaven for the success of the S. Americans ; because, in that success the only chance is afforded of securing to the individuals concerned the dearest rights of human nature.— The circumstance referred to was mentioned vyithout praise or censure—a fact witnessed by all, and strongly illustrating the truth of a posi tion 1 was endeavoring to enforce : that there was a striking and peculiar contrast between the interest excited by this proposition, and the pro position itself. But, sir, I was mistaken in supposingtins ques tion unimportant, insignificant, and unmeaning. Itlms now become a question tv which important consequences'are attached. The honorable speak er has told us what these consequences will be ; this little proposition is to be the new dividing line of parties in the United States. 1 hose who vote for it are to be the self-styled, and I suppose exclusive friends of liberty. It I may follow the example of the gentleman from Kentucky, (Mr. Johnson) and borrow a mataphor from hoiy writ, this is to bo the Red Sea, to divide the peo ple of Israel from the Egyptian h03t, through which the one under their inspiied leader, are to march, in safety and triumph, to the promised land of popularity and power; while the other with their present enjoyments and future hopes, are to be buried deep beneath its wave. But, said Mr. F. in conclusion, let gentlemen who have been warmly excited on this question, recollect, that, though so much consequence has been attached to it, the difference between those contending so earnestly on this tloor, is a differ ence as to time and manner. The only difference is, as to the prudence K expedient ey ol acting on the subject at the pfesent time and in this way. There is not a gentleman who lias addressed the committee on the subject, who does not desire to recognize the independence of the southern coun tries, whenever it can be done consistently with a just regard to our own interest—to our own safe ty, which is our fir-t duty. The only difference between us is, that we do not wish to precede the proper official organ of the nation, in order to recognize the independence ol these coun tries ; and those in favor of the motion wish to do so. There is no member of the committee who d..es not know and feel, that the wishes and feelings of the executive magistrate point in the same direction with that of the represen tatives of tlte people. Sir, where the difference between us is so small, however anxious we may feel for the success of our particular views, I hope that anxiety will cease when the question is decided. Whether the motion be adopted or re jected, let us recollect nothing but the ability and eagerness which has been displayed m the contest, and feel nothing either of the bitterness of defeat or the joy of triumph. FOREIGN. FROM LAGltlltA. Dispatch of the commandant Don Antonio Pla, to his excellency the gen. in chief of the expeditionary Army. Most excellent Sir,—After 20 hours of a most tedious march, we arrived early yesterday morn ing, without once resting, at Renioti del Toro, half a league distant from St. Josef de Tisnados, where the rebel Bolivar was stationed, with more than 700 cavalry and 350 infantry. When we arrived near his encampment, and made prison er of a servant of his, w ho informed us where his master lay sleeping. The Col. Hon Rafael Lopez ordered, that the chief of the stall' Don- Tofnas Renovales, should proceed with a party of infantry to surprise him : but after having penetrated with the greatest secrecy through the enemy’s encampment, and approaching the spot where Bolivar lay sleep, he encountered the chief of the stall", but fearful of the miscarriage of the stratagem he threw himself towards the spot where the pretended supreme commander lay, lie, rising immediately the moment they were about to surround him, lied to the mountains with the tiiree persons who accompanied him ; our party fired and three were killed, among whom was his Priest, Friar Stephen Prado. We remained in this state (they in the greatest alarm) until day break, when they presented themselves An the line of battle far superior to ours, the.r infantry in the center and the cavalry on the two wings. Onr line was composed of a company of h norary volunteer officers and the squadron of San Francisco de Tisnados, under the command of col. Don Rafael Lopez. In the centre the Infantry in closed columns, by the It. colonel of the” Cazadones of Navarra, ” Don Salvador de Mindina. The left wing was occupied bv the first and second column of Roval Lancers under my orders, and the reserve consisted of the 3d and 4th squadron under the orders of It. col. Don Ramor Garcia. Our cavalry was formed into half columns. The company of “ Hanguea- dores,” commanded by capt. Reyes Alvardo, oc cupied the whole fiont ; in this situation we found ourselves at da r light at a half gun shot from one another. Our line moved on under a most gaulling fire ; but neither the superiority of the enemy nor the untimely death of the com mander Who had so often led them to victory, appalled these vaiiant troops. I fell on the right wing of the enemy, and af ter having routed their cavaliv, I attacked the Infantry w ith two small squadrons. I immedi ately broke their line, our troops attacked de termined to exterminate them. At the same time the enemy's left wing commanded by Za- rasa, attempted to flank our right wing, but cap tain Don Niguel Carriony Asopardo, who com manded the third squadron that was in reserve, presented his front diagonally in so able a man- ne^to cover this wing, that charging the enemv together with the squadron of Saint Francisco, they routed him completely and decided the ac tion. The example given by the chief of stall' Renovales, contributed greatly to this glory. Our cavalry pursued the enemy in every di rection, making a most horrible carnage, till we destroyed their reserve. As soon as we remain ed masters of the field, I sent lieut. col. Don Jo- -cf Martinaz, with 150 men. to pursue those who had retreated by the road of Calabozo ; he suc ceeded, but unfortunately for us, at a league and a half distance, they were obliged to return w ith thier saddles on their heads, on account of the bad state of their horses, so much so. that if we had ab.iut two hundred serviceable Horses, this day would have concluded the career of the trai tors Bolivar, Ccderio, Zurssa and the rest of their followers. The results o.f (his brilliant ac tion have been that the enctr.y that 400 on the field of battle ami 150 nrUJ?**' Among the first, according to declaration nt" 1 are Brig. Gen’I. Pedro Leon Tome., chief ft stall Santander, colonels, Galindo, Salony \j riqe, It. col. Pinango, and Silvester l’alj’7 the major Plaza. Among ' Manfredo Beesolari, attac 1 a *i — -Cois. jnii Among the second, It ", died to the staff, m ,j« Joseph Francisco and luan de Dion Mont capt. Fiorensio Tobars, Bolivar’s aid de. C a' and the surgeon Sebastian Olivares, ft-/ these prisoners, 150 women have fallen into 5 ' hands. We have likewise retaken, of the n°^ oners they took in St. Fernando, It. D on p”' cisco Argona, ensigns Don Juan Antonio Gaik and Don Joaquim Yillam, and Don Calisfo iT' dacta. We have Taken two stands of mIom one of which was presented to me by !| private of the Corps of Lancers ; and the gage of the commanders and officers, inclufc Bolivar’s, was taken and lie was obliged to away his , and cap with which ne was di* guised. Three ammunition chests, and tW, ‘rums, as per annexed detail, likewise fell ur power. Gu our side there was no mortis than the death of the valiant col. Don Raf i( ( Lopez, and the seven soldiers, and dangenwjW wounded the coptuin of Royal Lancers, Dob Regino Landacta, and Gil Gonzales, the ensioi Gregorio llivos, Vicente Bermuder, the lieut. of dragoons Don Benito Franco, with 21 private) no m. ^ ANTONIO PLA. To II. E. the commander in chief. Georgetown,#. C. June Arrived sch’r £ a . .ly, Spilman, 22 days from Bonire, (Spanish Main) with 20 Jack . Capt S. reports bavin*' been boarded on the 12th of May last, y| lt J about -;G 'idles from the S. E. end of St. Domin go, from a ssliooncr, the Pelican, mounting g twel ve pound carronades, and 2 brass 18V<m pivots, and manned with a crew of about loOmea consisting of ' egrocs, Spaniards, Indians, Por. tugticse, and one white man who was knownta have married a relation of John Dickson,in \. lexandria, and to lipve resided in that place, The object of those pirates appeared to be money and being disappointed, they robbed the Emily of all her sea stores, and every moveable article of value, and a passenger’s trunk of 800dollan, not sparing the watch of the captain,0ior tie rings in the ears of his men ; which latter «. tides were taken with much cruelty, at the muz- zles cf pistols. The robbers llftd scarcely e«. cuted their purpose, when a targe ship, apparent, ly a man of war. hove in sight, came up and if tacked the pirate. The action was well sustain ed on the part of each vessel, for at least ont hour, when the siiip hauled oil' and made sad Capt. S. further informs, that Gen. Aurv, fro Amelia, had made Sumatra, a place of deposit, tnat he i Aury) u as engaged with two rnerctianU at St. Thomas’s who vend at that place, alien. goes pillaged from vessels, and carried to then by way of Sarnana. The treatment receivcdbj capt, S. and his crew, was cruel in the extreme, ami the whole conduct of the pirates evident* cd their total disregard of all principle and law. Baltimore, June 2.—Capf. Hill, of the sclir. Emily, arrived at Norfolk from Jacquenul nd Aux Caves, reports, that while on his passage from Jacciucn el to the latter port, he was boarded by ont of v ■ . iollv’s squadron, and plundered of several articles—amongst which, they sew down and carried off the main topmast, the sijw sail boom, and all the spare rigging they could lay their liunus on.—A part of this squadron wtt seen for several days afterwards cruizing off Ait Caves, and thence up to Beilta. The avowed object of this squadron, was, as soon as they could concentrate all their force, to make an at tack upon the City ot St. Domingo, and hold il as a place of depot.—The British frigate Li Pique, Kelly, and the Primrose sloop of war hid come up from Jamaica to cruize on the south side of the Island for the protection of Britiii commerce from the depredations of these fret* hooters. A squadron of three sail, under Hap tian colors, had been round from Portau Prince to Aux Caycs, For the purpose of protecting tilt commerce on that side of the Island.—Capt. H. was spoken by one of them, betw een Aux Cam and the Island of Vache, and informed, that they had taken a piratical brig, which they had in com - patsy.—Four days orevious to Capt II. leaving Aux Caves, a topsail schooner of about 100tour, having the name on her stern entirely .ublitert- ted, was taken up by some fishermen, off the east end of the Island of Vatche*, and brought id* that port—Not a soul was found on board, M any papers by which she could be dentified. Fernandiria, June 2, 1818.—.« A friend of mine has just arrived from St. Augustine, who informs me that an American sloop had come in to that port from Musqueto—the captain states that he Was hoarded by two patriot pri valuers and robbed by them of all the property on board. A report is current here, that a force has landed at Musqueto, but from what I ran find out I believe it to be a gang of Africans, whold some patriotic Americans at Augustine have gone it is said, to drive away ! ! It is certain that the governor of Augustine has sent off the rleputa tion of Indians with good advice to make ponce as scan as they can.”—Savannah Republican. •Vow-Tori', A fay 25.—Extract of a letter dated on board the I . 8. ship Hornet, Cape llenrv, A* P'il 28.—“ \\ e arrived here from New-York on the 25d ..1st. His sable majesty will not receive Mr. Taylor, because his credentials are not ad dressed to “ Henry, King of Havti.” We el* pect to sail to-morrow for Port-au-Prince, «nd thence to Spanish Main. On our arrival here** fired a s .lute of twenty-one guns, which was rt’ turned by the same number. His majesty spend* mo-t ,,f hia time in the country, superintending the building uf a fortification. ‘ It is situated on the top of a very high mountain, having but uni passage t» it. which has been cut through the rock and will not admit more than three men *■ breast. It is not yet finished, although lie h* 5 800 pieces of cannon mounted. M ithin this foft tificatioq lie has provisions and clothing sufficient for tire sUbslHetitre of 20,000 menfor s.eyen yeach