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ed * peremptory Forfeiture of each share paid in, whenever the succeeding one was not paid ac cording to the conditions of the clifffter—for all Maniple was before them of the consequences of ■iflius relinquishing the only tie that could bind in terested men—a regard to their Own interest. Every one remembers^hen the great contractor for a loan, during tlie late war was released from this.tie—and every one knows, that being thus released he left the government in jeopardy, by declining to fulfil his bargain, except just as suit ed his own interests. That distinguished person age has now a bank of his own, in a neighboring state. God help us 1—and, as a reward for his patriotism, 1 suppose,has been specially exempt r ed by an act of legislative grace, from a'law for bidding private banking. One might be puzzled at this inviduous and unjust partiality to an indi vidual, did we not recollect that he is a worthy member of the honorable body, which granted this'privilegc of doing what was forbidden to every one else. -' . • ' •WFhis-, sir, furnishes a striking example of the good effects of having a friend in the legislative ''councils of the nation, as well as of the conse- -quehces likely to result from the policy we see •every where pursued, of associating political leaders, members of legislative bodies, judges, &c. iu the advantages of this great paper sys tem. The time may, and must come, at no dis tant period, when the legislative power, will be called upon to restrain, if not to destroy, this -great and master mischief. The judicial autho rities, too, will be appealed to, for the purpose of deciding between the lights ot individuals, and the wrongs of the paper aristocracy. ’ In such a case, the good of the public, and the ends of •justice, will doubtless be marvelously forwarded by appealing to bank directors, in the persons of legislators and judges, who will be thus obliged to decide a question in which they are themselves parties. When the interest of the legislative and judicial authorities shall become, as. they are every day becoming, diametrically opposed to the interests and rights of the people—the charms of freedom, and the hope of obtaining justice, by legislative wisdom, for the wrongs sanctioned by legislative folly, to say no worse of it, will beyond all question he exceedingly multiplied in favor of the aggrieved party ! Men may and sometimes will act justly, even to their own injury—hut it is an elevation of virtue which cannot be generally re lied on, without the credulity of mankind being severely punished in the end. Men ought never lo be placed in 4 situations of great resposinbility, whose prime interests are thus at war, with their first and greatest duty. It is sufficient I trust to have pointed outthe.se things to public notice, leaving it to the good sense of the people to ap- -ply a remedy. ‘ I have spoken plainly, perhaps too plainly, on ■this subject, but feel myself justified to my own heart, and my own understanding, by the mag- • nitude of the evils I have attempted to expose.— The particular examples I have alluded to, were selected solely because they were most no torious, and alarming. I war with no state, nor do 1 drag from the mass of corruption any particular object, for the gratification of person al or party feelings", - and I shall proceed to esta blish the principal positions I have maintained in this letter, by quoting a part of the most able re port made by a committee of the house of assem bly in the state of New-York at their last session. The whole of it discloses a scene of consummate iniquity, not peculiar to the state of New York, but extending in every direction through the U. States, and F regret to see that it has not been more extensively disseminated by the newspa pers. It is not the work of a rhetorician, labor ing to distinguish himself by fine phraseology, but of a plain honest man, telling the truth. I know the chairman of that committee—and 1 think it an honor to know such a man as Isaac Pierson. He is one of the most extensive iron manufacturers in the United States—he employs and gives bread to six or seven hundred laborers, who near the word of God every Sunday in a church of his own erecting—and whose children go to school at stated intervals of labor in a school of his own endowing. IVhat such a man, gifted as he is, with a penetrating understanding, and an honest heart, says, ought to' carry weight. ‘ The committee will conclude this general re port on the state of the currency, by examining briefly the foundation on which the present cir culating medium is based. The committee be lieve that the present circulation in the state principally consists of the notes of those banks whose nominal capitals are small, anil compos ed principally of the notes of the individual stockholders, called stock notes—so that the se curity of the public consists of the private for tunes of individual stockholders, ana those for tunes, in a great measure, consist of the stock of the bank, for which they have given their notes, so that the bank is enriched by holding their notes, and they are enriched by holding thej stock of the bank—and as these banks make large dividends, many rapid, and what are considered solid fortunes, are made. Like a boy mounting a summit as the sun is setting, suddenly observes his shadow on the opposite precipice, regardless of the gulph between, is astonished to see how ’‘•tall he has grown—when night ensues, ere he is «." aware, he is plunged, shadow, Bubstance and all, in the abyss below, covered with darkness and despair. Such, the committee extremely appre hend, will be the result of many of the present institutions, and bring ruin ana distress on the country,unless they change theirmode of business. ‘ The committee take pleasure in stating, on the other hand, that there are a number of banks in this state \Vith real and solid' capitals, but whose circulation is small, and consequently their dividends, whose affairs are conducted witn prudence and care, and from whom the pubiic have nothing to apprehend. ‘ On the wlmlethe committee coincide fully in the opinion expressed by his excellency on the .subject of banks, in his speech delivered at file _ ' opening of the session, where he says— “ The evils arising from, the disordered state of our currency, have been aggravated by the 1 banking operations ol individuals, anil the nnpu- thoriseu emissions of small notes by corporations. They require the immediate and correcting in terposition of the legislature. I also submit it to vour serious consideration, whether the incorpo ration of banks in places where they are not re quired by the exigencies of commerce, trade or manufactures, ought to be countenanced. Such institutions having but few deposits of money, must rely for their profits principally upon the circulation of their notes, and they are therefore tempted to extend it beyond their faculties.— These hills are diffused either in the shape of loans, or by appointing confidential agents to ex change them for those of other establishments. Hut tlie former mode being conducive to .profit isat first generally adopted $ and in the early stages of their operation, discounts are liberally dispensed. This produces an apparent activity of business, and the indications of prosperity.— But it is all factitious and deceptive, resembling the hectic heat of consuming disease, not the ge4 nial warmth of substantial health ; a reaction soon takes place. These bills are in turn collect ed by rival institutions, or passed to the banks of the great cities, and payment being required, the only resource left is to‘call in their debts, and exact total or partial returns of their loons.— The continual struggle between conflicting esta blishments to collect each other’s notes, occasions constant apprehension. The sphere of their op erations is narrowed. Every new bank contracts (he area of their paper circulation ; and after subjecting the communities within their respec tive spheres of operation to the pernicious vicissi tudes of loans, at one period - profusely granted, and at another parsimoniously withheld, they finally settle down into a state of torpid inaction, and become mere conduits of accommodation to a few individuals. The legislature are then so licited to apply a remedy by the incorporation of other banks,, whereas every new one of this de scription, unless attended by peculiar circuit, stances, paralizes a portion of capital and aug ment3 thfl.general distress. The .banishment of metallic money, the loss of commercial confi dence, the exhibition of fictitious capital, the in crease of civil prosecutions, multiplication of crimes, the injurious enhancement of prices,and the dangerous extension of credit, are among the mischiefs which How from this state of things.— And it is worthy of serious enquiry, whether a greater augmentation of such institutions may opt, in course of time, produce an explosion that will demolish the whole system. The slow and periodical returns of husbandry being incom petent to the exigencies of banking establish ments, the agricultural interest is the principal sufferer by, these proceedings.” ‘ If the facts stated in the foreging be true and your committee have no doubt they are, together with others equally reprehensible and to be dread ed, such as, that their influence too frequently nay, often, already begins to assume a species of dictation altogether alarming, and unless some judicious remedy is provided by legislative wis dom, we shall soon witness attempts fo controul all elections to office in our counties, nay, the e- lcctions to this very legislature. Senators and members of assembly will be indebted to banks lor their seats in this capital, and thus the wise ends of our civil institutions will he prostrated in the dust by corporations of their own creation. It is, therefore, evident the deleterious poison has already taken deep root and requires immedi ate legislative interference with their utmost energy.’ Having thus pointed out the evils and dangers resulting from the paper system, the cofomittee proceeded to otter a resolution for the purpose of ascertaining among other things “by what means the charters of former banks had been obtained from the legislature”—This part of the resolution was after a long debate finally negatived I FOREIGN. LIBERATION OF MR. MEADE. Copy of a Royal Order, addressed by his excellency don Jose Pizarro, minister of state of Ins Catholic .Majesty to the secretary of tlie supreme council of war at Mad rid, relative to the business of Mr. K. \V. Meade a cit izen of the United States of America. , In consequence of our lord, the king, having made himself acquainted with theconsulto which the supreme tribunal of war in its hall of justice, in union with the associate judges, remitted to him on the 4th of October of last rear, his majes ty has been pleased to examine thoroughly with the greatest care, the whole of the proceedings relative to the shit between R. W. Meadefa citi zen of the United States, and J. M’Dcrmot, a subject of his Britannic majesty, respecting the restitution of 1,050,327 reals vellon and 20 mar- avadies, which in quality of deposit, were deli vered by the former, and notwithstanding that with anticipation and security, it results from the proceedings that the deposit' was made in effec tive specie, since it had been so acknowledged by the royal hacienda or department of finance. That consequently, this matter being most so lemnly proved, Meade could not be called a bank rupt, nor could he be subject to the imprisonment wliicli he is suffering—that there was no possibi lity of declaring the deposit null, whilst its vali dity was acknowledged by.several royal orders— by declarations from the treasurer of the royal finance department, transmitted to the supreme council by the first department, or secretary of state’s office—by that of tlie minister of finance, and likewise by information taken directly by this supreme tribunal of justice itself: Notwith standing all which, his majesty has been pleased to hear anew what the minister of finance had to say on this point, being one directly connected with his royal treasury, and by the report or statement made by said minister,' his ma jesty has been confirmed in the opinion, thit the royal Hacienda or finance department, could not, nor can it do less than confess, that the aforesaid deposit is real and effective and in specie, and to acknowledge itself bound for its reimburse ment in the same species of money.' His majes ty has therefore been pleased to declare so anew, and to resolve, that the necessary orders should be given with all possible dispatch for .its delivery to the cqnsultdo, for the otyect of tji£suit pend ing bfeYweensa'ul t parties. t , . . . His majesty however, sec's with the deepest re gret, that fiie disagreeable consequences which were to be expected from the long imprisonment of Mr. Meade have been realized—this event crossing ami Augmenting not a little the difficul ties and serious compromise of the important re lations Of his majesty with tlie government of the United States, in one of the most critical mo ments, giving room to (lie strong remonstrances of that government in support of their minister in Madrid whose reclamations on the subject had not been attended to, and exhibiting an impres sion through the medium of the press not a little unfavorable and alarming in that country, and very inconvenient to the interests of his majesty. Anil finally, his majesty has recently received information of the determination .of congress,' promoted with the greatest warmth, to expose the subjects of his Catholic majesty to the rigor of the most severe reprisals. In consequence of all these circumstances, and no such motives instigating us as those stated in the royal order of the 25th April, 1816, and on which the supreme hall of justice founded the imprisonment of Mr. Meade, his majesty has re solved that he should he immediately put at liber ty ; apd that considering the deposit as real, va lid and legal, and at the charge of the royal Hacienda—that the cause in every respect should be continued through tlie usual course ofjustice, which I communicate to you by royal order, for the information ol the council, and its immediate and exact execution God preserve you many years—Palace, April 20, 1818. JOSE PIZARRO. From France.—The Paris papers of the 26 th April contain an official announcement of the approaching evacuation of the French territory by the allied army, of the financial means pro vided for carrying it into effect, and of Ihe spee dy meeting of the allied sovereigns, for the pur pose of fixing the precise time, and other pre paratory circumstances. The sum required for the final liquidation of the claims of Foreign Powers is reduced from sixteen hundred millions of Irancs (about 66,665,6001 sterling), the a* mount of tlie original demand, to three hundred and twenty millions eight hundred thousand francs. Louis by the Grace of God, King of France, and JYavarre—To all present greeting \\ e have ordair.ed and do ordain, that the Pro ject of the law, tenor of which follows, shall be presented to the chamber of deputies, by our Ministers, Secretaries of State in tlie depart ments of foreign affairs and finance, and by the Sieurs Count Simeon and Baron Monier, Coun- cellors of State, whom we charge to explain its motives, and support it in debate :— Article I. For the purpose of providing for the full and entire excussion of the dispositions of the Treaty of the 30th May, 1814, and the Conventions of the Treaty of the 20th Novem ber, 1815, so far as concerns the payment of the dents contracted by France anterior to that epoch beyond her own actual territory, there shall he created and inscribed upon the grand book of the public debt, with interest from the 22d March, 1818, a perpetual rente of 16,040,000 francs, to meot a capital of 320,800,000 francs. Art. II. There is opened in the Ministry ofFi- nancea credit of twenty-four millions of rentes. In consequence the Government is authorised to create and inscribe on the grand book of the public debt, in concurrence with this sum, rentes which may be employed only to complete tlie payment of the sums due to the Allied Powers, conformably with the 4th Article of the Treaty of the 20th November, 1815. Art. III. An account shall be given in the Session of what shall have been done in virtue of the above second Article. Given at our Castle of the Thuilleries, the 25th of April, of the year of our Grace, 1818, and the 23d of our Reign. (Signed) LOUIS. (Signed) hicheueu. Constantinople, March 28.—We have received some details here, respecting the revolution which" took place in Algiers. The new Dey named by the army, having been taken by the Moors, the natives ot the country, was conducted to their Chief, who had seized on the treasures, the mag azines, Ike. and had carried off every thing to a fort which commanded the town, and where he also had retired. This chief, although half a savage, had the generosity, not only to gtant him Ids life, but even to give him several millions of piastres, with two slaves, and contented him self with banishing him to Mahon, where the ex iled Dey has for some time resided. This Dey has determined to come to Constantinople to pro pose to the Porte to march against the Moorish Chief, if they would grant him troops and muni tions, to join himself with an army now encamp ed on the mountains in the vicinity of Algiers, and which only awaits his Highness’s orders to act. It is not yet known what part the Divan will adopt. London, May 2:—Sir Charles Hamilton is ap pointed admiral and governor of Newfoundland, in the room of the late admiral Pickmore. A battle was fought in India between the Bri fish and Holkar on the 21sf of December. The latter was defeated, but the loss of the former was severe. The enemy lost 2000 men in killed and wounded, besides 73 guns, mostly brass, 7 elephants and some hundred camels. Lord Castlereagh has offered a motion in par liament, to extend the alien bill for aii additional term of two years. This bill gives to the secre tary of state the power of sending out of the kingdom any suspected foreigner without a legal process. -i" - Fifteen thousand children are educated jn- charity schools in Liverpool. Eight thousand up- der the patronage of the church of England, and seven thousand by the dissenters. A Glasgow paper of the 28th April mentions that letters :had been received from Paris, stating that Mr. Gallatin had completely failed in at tempting to arrange, a commercial treaty be tween the United States and France, and.th.aj^the conference on the subject had been closed.' Affair of Fuflldes—The trial of the I accused of the murder of Fualdes still mi,- *1 The sitting of the 23d of Apfil was one ^1 most interesting since the commencement s a!l examinations. Bax, who before, had tuM' , I a parCof the truth, is said on that- day made at-fall disclosure. In conseqndHce'or I disclosures, other individuals have biaSi,, on the list of the prosecution, agai^I ceedings wifi commence. We shall soon bi^l hie to mention the results. Bax said on ente'* I the house of Banca| on the night of March lifl 1817, he recognized Bastidc, Jausion, Bessier» I Vey,'nac,YenCe d’Istouinet,Louis Bastide iwl Cbllard and'the wife of Bancal. He saw w, I Mr. Fualdes, seated on a chair surrounded I these individuals. Jausion had required if I Fualdes to sign some bills, which when he hi I done, Jauson put in a port-feuille which Til held. As soon as this was done, BastidedesifS I Fualdes to prepare for death. Fualdles then'll, I and said with emphasis, “ who could hificI ed that my own relations and ffitrhds among the number of my assassins then seized Fualdes,to stretch hitir oW-tW ta^ I where he had signed the hills. Fualdids'resi^ and requested time to make his peattVhH ft* ven. Bastide, “ go and reconcile yontsqlf the devil.” At last, said the prisoner, was stretched upon the table, and Jausion held a knife in his hand,'struck the first blov,^, Fauldes made an effort; the table was ovyrtain. ed) he escaped from the hand of the assassia'- he ran towards the door. I was placed there but made no effort to prevent him. Bastide who saw this gave me a blow : and by the assistance of several other individuals, seized Fualdes nd stretched him again On the table. Bastide then plunged a knife into the throat of Fualdes, who uttei-ed,groans and stifled cries. The witness I in this manner went over the circumstancei #t the murder, fully implicating Jausion and lu. tide, With some-other individuals not jet mm. hendfed. Patriot War against St. Domingo.—We mu soon expect to hear the result of the operation against the Spanish port of St. Domingo, bv the combined Patriot squadron under Com. Airy. They want a port of rendezvous, & .will give much for one, especially one so convenientaad contiguous as the city of St. Domingo is. to the best cruizing ground in either the West-Info or South America. The success of this ente- prize would give them the facility of enterhij’ the Mona Passage, the greatest thorough firetf all the islands, in a few hours, choosing any pit of the coast .of Cuba, or a run over to the Mii(t, at will ; in short, it is the most judiciqus'por tion they could.have selected, and would aimed put a stop to the Spanish’commerce in those sch. Twenty years ago the fortifications Wefe fojl | be formidable ; but Aury’s spies noWyfrportl they are neglected, and might'; be,. advantage.—Washington City'Gazettb .. A serious misunderstanding has arisenbcltretj the Chinese authorities and the British tndml respecting reported smuggling by the countril ships. By an official statement it appears flyil there were burnt in Russia, after the retreat til the French,the bodiesmf 243,612men,andl23,l4;| horses. -The Spanish fleet recently purchased | from Russia, touched at Deal on the 28th April,! on their way to the Baltic.^ The British Par-1 liament have been engaged on a project iotrgduc-1 ed by Mr. W ilbeforce further to ameltofiate^the I condition of slaves in the West.'lnilieiw--jl| communication to the Chamber of Deputies;(inI Pans,) has been made relafing. to.tho settlerfih!I of the pecuniary claims of the Allies upon France* I I he sum which Russia is to receive, is stated at| 52 millions of livres, pith interest; Austriffy| Hamburg 20; the low countries and HollandS?i| the amount to.be paid to England and the otW| Allied Powers is not exactly known. The fir* of October is said to be the stipulated time lit I the Allied Army or Army of Observation, to wid-1 draw from France.- Sir Gregor M "Gregor hd | a narrow escape by the overturning of a stage I coach in which he was a passenger lorKdlubirg.l ——The duke of .Wellington was in Englandtol the 5tit -of May.——A public meeting was WdJ in Spa-Fields on the 4th May, at which many re-1 solutions were adopted on the subject of Pnriii-1 rnentary Reform. Watson and Preston were WI principal speakers. 1 - * " ' 'FOR SALE, •Jl J.au_lard, and a large quant it a of P. J A Kit ATT* Mrlledgeville, June 21. , . . ABNER LOCKE, R espectfully informs the public, he continues to receive and collect, donation, loan nr purchas&tntiipiitiesand osities, Natural and Artificial, and soliciti ronage. MiUedgeville, May 12,181 AUCTION. 1, I N consequence of the intended dissolutieW the co-partnership of M. Greene k Co. tit! entire stock of Goods and .Groceries, t)filonaa| to the firm, consisting of about fuur or five toot- sand dollars, will be offered st-Auctrenv Ot :thci*| Store-dosr, on the 15th of July, without ceserW on acreditof six months, for all sums above ft* dollars ; under that sum cash will be expected Notes with approved security will be reqsittj Sale to continue from day today until all issoU ' : BOWER & GREENE, Auct’S Milledgeyilte, June 30; 1818. • si - : • .V t '4k. CARD. ■l^r'Rv SHACKELFORD respectfully ioforni| ifjfc his ;friends, that he shall have a vacatie*! until the 13th of next month ; at which time h*l purposes commencing his school again, *1 same hoijSe, and at his usual price. He hope* t* I meet with the liberal encouragement! herejof**| received ; and is gratified in file belief, that "| will have it in his power, t.o_give , cqujriete';*»uJ , | faction to those, who may feel dispoeed to | "* iee. his institution, , . ■, i v ; Milfedgcvilie, June 27,181^’*"