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tUeehltt C|r 0 tilde & oeti tine I
J. w. kW. s. JONES. AUGUSTA, Ga. SATURDAY MORNING, jMAY 2, 1840. v lv K ' '
I I ■ it i —i—————— ' VOL. IV.—3iO. 52.
THE CIIKNOIC'LB AND SENTINEL.
I* PUBLISHED
D ULY TRI-VVKEKLY, AND WEEKLY,
At No. 209 Broad-street,
terms:
Dai!jpaper, Ten Dollars per annum, in advance.
Tri-Weekly paper, at Six Dollars in advance or
Sjvcn at the end of the year.
Weikly paper, Three Dollars in advance, or Four at
ij,e end of year.
CHRONICLE AND SENTINEL.
AUGUSTA.
FRIDAY MORNING, MAY 1.
The People are Moving.
From every aection of the State, that we have
been able to obtain any intelligence, the news
is of the most cheering character for the cause of
reform—and wo entertain not a douut, that in less
than one month, the cause of Harrison and Ty
ler will be espoused with a zeal bordering on en
thuaiam from the seaboard to the mountains. The
people worn down and prostrated by the folly &
experiments of an Administration, whose whole
energies have been put forth to paralisc every
class of business, are coming like freemen to the
rescue, and are determined to fice themselves
from Van Burenism, alias experiments and expe
dients. This is as it should be. Go on we say
and hold meetings in every county—rally under
the standard of Harrison and Tyler, and the
country will be freed from that misrule and cor
ruption, which have cast their withering blight
upon the country from one extreme to the other.
Wc invite the attention of our readers to the
extract in this day’s paper, from the speech of
Mr. John Campbell, of Virginia, late Treasurer
of the United States, before his old friends and
fellow-citizens.
Mr Cemphell was an orginal supporter of Gen.
Jackson, and continued his adherence to the par
ty even after the elevation of Mr. Van Buren,
when, sickened and disgusted with the policy of
an administration which he honestly regaidetl as
subversive of the best interests of his country, he
renounced the faith, and, like a freeman, pro- |
claims his convictions to the world. We regret
that the length of this speech prevents our pub
lishing it entire, wc shall however make other
extracts from it, which we most heartily re
commend to our readers, as coming from one
who has seen and knows the secret springs which
have actuated the present Administration from
the time it came into power until he resigned
his office.
From the Charleston Courier of yesterday
Late from England.
The ship Helen, Capt. Smith, arrived at this
port yesterday, from Liverpool, whence she left
on the 28th ult.
We arc indebted to Capt. Smith, for the Lon
don Times of the 25th and 26th ult., and the
Liverpool Mail of the 26th, from which we have
made some few extracts. There appears to be
no political intelligence of importance.
The Helen brought but very few commercial
letters. One that has been shown us, dated 251 h
ult, states that the sales of Cotton on that day
reached 2500 bags, at the prices of the previous
day.
“ Liverpool, March 26—Pretty fair Uplands
are worth 5J a sjc.—good, from 6 to 6J.”
Liverpool, March 24. Colton. —We have
only to report a moderate business in cotton to
day, the sales being 2,500 bags. 350 American
were for cxpoit, and the remainder to the trade.
The market is quiet, but without change in
prices.
Liverpool, March 24. Cotton. —There has
been only a moderate demand for Cotton to-day,
and the sales of all kinds do nut exceed 2500 bags.
The market is dull, but prices are without altera
tion.
Liverpool, March 25.—T0-day’s sals of Cot
ton amount to 850 bags, including 500 Ameri
can on speculation, and 350 for export. The
market is freely supplied, but prices are without
alteration.
London, March 26.—Great activity prevails
in the Roy.d dock yards at Chatham and Sheer
ness, and several line of battle ships are in a state
of rapid forwardness. The London, ninety guns,
it is expected, will be launched from the former
establishment caily in the month of June next.
Orders from the Admiralty to that effect were
received on Friday last.— Shipping Gaz.
Savinb —ln England alone the capital belong
ing to the operatives in the Savings’ Banks now
•mount to £16,000,000 sterling.— Lit, World.
Lon dor, March 26. Wc have received Ma
drid journals and private letters of the 17lh inst.
but they bring no news of importance. The
'' city still continued under martial law.
STATE OF TRADE.
There was a decidedly better demand for yarn
yesterday than on any market day for several
weeks past, and sales were rapidly effected by all
who chose to accept previous rales. Many of
the spinners, however, stood out for an advance
and we believe in some cases an advance of a
farthing per pound was obtained on 40’s mule
yarn. For goods, too, there was a little more
inquiry, but it did not produce any improvement
in prices. The general feeling in the market,
however, was much more cheerful than for some
weeks part. —Manchester Guardian.
Lordor, March 26. Monet Market and
Citt intelligence —A considerable scarcity
of money has been felt to-day on the stock-ex
change; several sales of consols have taken place,
and the prices of English securities, both funded
and unfunded, have been effected. Consols
opened at yesterday's quotations, viz: at 90J to
£ for money, and 90J to 1 for the account, but the
demand for cash caused a decline of i, and the
het quotation is 80J to J for money, 90j to i
for the account. Exchequer hills are 16s. to 18s.
premium. Money for short periods has fetched 5
end 7 per cent.
Lo noon, March 26.—The Paris papers of
Tuesday are utterly destitute of news. The
Ministerial struggle completely absorbed the stten
„ tion of the press and the public on that day, the
si former making a last appeal to their respective
A pertizans to support or oppose, ns the case might
be, the vote of confidence in Ministers; the latter.
' awakened in some sense to the situation of the
country, expressed more of interest in the conflict
•bout to commence than in any that had fur •
|OR{ time occurred. The Court party bad laid
I aside all pretensions to moderation. The news
paper* under its influence called for a direct re
fusal of the grant, in order to enact the ruin of
the Thiers Ministry. The Lcgitimatisls would,
• it was expected, support M. Thiers, not because
I of their adopt : on of him or his principles, but
i because he was notoriously opposed to the con
tinued uncontrolled direction of the whole ma
chine of state by the King, and because in any
grave circumstances that might arise out of the
contest something favorable to the cause of the
1 Duke de Bordeaux might be gathered. The Ex
treme Gauche, or Republicans, would probably
support M. Thiers, although their organ, the
National, condemned him for not throwing him
self into the arms of that party. M. Mauguin,
the liberalism of whose principles could not be
doubled, and who seems to All a station half way
between the Republicans and the Model ate Lib
erals, of which latter M. Odillon Barrot may be
deemed the leader, bad inscribed his name among
the deputies who proposed to speak for the grant,
(or vote of confidence, as it might be more
properly termed.) Thus the Gauche or Odillon
Uarrot party would appear the only one on which
the Minister could really depend; nevertheless
his friends affected confidence of his having a
majority. The serious position in which the
breaking up of his Administration would place
the country was admitted by every man who
spoke upon it, and might therefore be expected
to influence all those who desired tranquility.
The journals before us contain evidence of the
renewed pressure of distress in Paris. During
the first 20 days of the present month, 55 bank
ruptcies had been declared in that capital; and
in the course of five days of last week 20 bank
ruptcies, some of them involving large engage
ments, (varying from lOO.OOOf. to 50(l,000f.
each.) In fine, the sums drawn out of the savings
banks on Sunday and Monday last, exceeded
those lodged by very nearly 100,000 f.
Correspondence (f the Baltimore Patriot.
Washington, April 24, 1840.
UNITED STATF.S SENATE.—DI'TIIS OX SILK.
Mr. Buchanan presented a memorial from cit
izens of Boston, praying that a proper duty
should be imposed on the importion of Foreign
Silk.
Mr. Buchanan made some remarks in support
of the object of the memorialists. Our climate
and soil were eminently favorable to the culture
of silk, and yet no protection was given to it. and
no aid and encouragement afforded by the Gen
eral Government. He referred to the large quan
tities of the article that were annually imported,
and expressed the belief that if a fair and p oper
duty had been imposed upon it, there would have
I been no necessity to call for an issue of Treasury
Notes. The subject was particularly worthy of
' considerat on at this period, when the public
| Treasury was so imp tverished.
Mr. L’alhoun said he was clearly of opinion that
silk was an article which should bear a proportionj
ate duly. He had repeatedly said that he would
be ready at any time to go into a revision of the
whole Tariff; but other gentlemen thought such
a revision should not bo made at the present
session—and he most earnestly thought it unad
visable to lake up a single part of this great sub
ject. It must be all reviewed at the next session,
and he was opposed, under these circumstances,
to any partial legislation now.
Besides, said Mr. Calhoun, France is a great
market for our Southern staple—it is a daily
growing market for cotton. The principal arti
cles we take in exchange from Frame are wine
and silks. If the importation of these articles is
reduced to any greatexle.il, our commercial in
tercourse with that country will fall otfnecessarily
in the same proportion.
It is said (added Mr. Calhoun) that silk is a
luxury, and on that principle, a duty is to be
imposed. Some other article will lie said to be
produced hero, and it must be taxed on that ac
count. And so, between these two principles,
the tariff will bo brought up to its maximum. He
was not willing to establish the principle that
necessaries are to have duties imposed upon them
for the purpose of protection, and luxuries taxed
because they are luxuries. He repeated that
Erance, from which wo received most of the silk
used in this country, was one of the best markets
for the productions of the South, ami the trade
with that country was the great basis for the ex
changes of the Southern people with Europe.
The memorial was referred to the Committee
on Finance.
GRADUATION RILL.
The Bill providing for the reduction and gra
duation of the price of public lands was taken up,
and passed, ayes 28, nays 8.
ROUSE OF REPRKBENTAVEB. —GENERAL APPRO
PRIATION BILL.
At one o'clock, the House resolved rtsclf into
Committee of the Whole, and took up the bill
making appropriations for the Civil and Diplo
matic expenses of the Government.
Mr. Atherton,of N. H. took the floor,and pro
ceeded in the continuation of an exceedingly la
pid and desultory speech which he began yes
teiday, but which so wearied his party friends
that they gladly consented to adjourn between 5
and 0 o’clock, though they had, at first,determin
ed to sit late, and if possible, bring the Bill out
of Cemmitlee before adjournment.
After he had finished, Mr. Mason, of Ohio,
took the floor and said he intended to offer a few
remarks on the provisions of the bill before the
committee ; and the first he would notice, was
that which had engaged so much of the attention
of the Administration members who had pre
ceded him—namely, the section charging Gen.
Harrison with selling white men into s averyl
[Loud laughter.] He had not read the section 1
himself, but as he saw in the Globe, and in other
Loco Fuco publications, that the Administration
members always spoke relevantly, as well as with
astonishing effect, he had no doubt this topic, of
which all had made so much, was embraced in
the bill. [Renewed laughter.] He would there
fore say a few words of this calumny which had
been a hundred times refuted; but which, con
temptible and false as it was, had been thought
worthy of being eagerly snatched up by every
parlizan demagogue, tor the purpose of making
some political capital for the P.esident.
Mr. M. then proceeded to reply to this charge
and other accusations made by Mr. Atherton and :
his brother supporters of the Executive.
Washington, Friday evening, } I
(About midnight,) April 24, 1840. 5
the night session.
The speech of Mr. Mason, of Ohio, to-day, was ,
an admirable and effective reply to the calumnia- :
F tors of the people’s candidate for the Presidency,
i He look up the charges with which ihe speeches,
not onlv of such vulgar declaimers as Messrs,
i Duncan and Walterson.but of other Adminis
■ tration mm who make some pretensions to deccn
l cy, ha»e been freighted, snd after triumphantly
. controverting them by the most conclusive evi
■ | dence, he 1 carried the war into Africa,” and ex
; j posed with power the abuses and corruptions of
i j ‘'the party,” its leaders, and its Executive chief.
I 1 His notice of the trash which is daily thrown
out by the partisans of the President, about Gen
eral Harrison being under the surveillance of a
committee, was particularly happy. The truth
is, these slanderous minions of power, remember
ing how entirely dependent General Jackson was
on those around him for the expression of his
opinions or wishes in tolerable English, and re
membeiing, too, the comments made at the time
upon the qualifications of a President who was
unable to write half a dozen consecutive senten
ces fit for the public eye—are anxious to attribute
to General Harrison the same incompetency.
Every man possessed of common information con
cerning the political events and characters of that
period, knows that the man of the Hermitage had
constantly beside him persons who managed his
whole correspondence, and composed every line
of every public letter, and every Stale paper to
which his signature was attached. Mr. Let, our
late Consul at Algiers, performed a great deal of
this service for him before his election to the Pre
sidency; and a cahal, of whom Arnos Kendall waa
a principal member, did the same duty after his
inauguration.
The Cincinnati gentlemen whose names have
been most gratuitously paraded before the public,
are not “General Harrison’s committee,” as is
falsely charged. T. icy arc the “Corresponding
committee of the Whigs of Cincinnati,” appoint
ed at a public meeting, which waa held imme
diately after the Harrisburg Convention, for the
purpose of keeping up a communication with sim
ilar committees in other places, and in dissemina
ting such information in regard to Harrisen's
public services as might be called for.
As to this committee superintending his con
science or opinions, the whole charge is an atro
cious calumny, in which those who promulgated
it have no faith. The opinions of General Har
rison on all the great political questions in our
country, are before the American people. He
has nothing concealed— nothing to dissemble—
nothing to promulgate anew. All the labored
abuse and misrepresentation poured upon him
through every Loco Fuco channel, cannot shut
the eyes of the na.ion to his high character—his
noble services—his devoted patriotism. Nor can
they contradict the fact that those admirable ad
dresses and letters, reports and speeches, which
bear his name, were written by himself. The
idolizers of Jackson cannot say as much for him.
Mr. Morgan, of New York, followed, and de
voted a short time to expo-ing the absurdity of
the often refuted charge which was brought up
again by Mr. Parraenter, of Massachusetts, that
the present Opposition party is identical with the
Federal parly of ’SB. Mr. M. entertained the
House with a long list of “old Federalists” that
have been, and continue to tic, the loudest brawl
eis in the Administration ranks.
Mr. Rariden, of Indiana, spoke next with em
inent ability against the measures ol the Admin
istration, and especially its extravagance and cor
ruption.
Mr. Clifford then obtained the floor, and occu
pied it till midnight. In the meantime a large
number of the members went off to visit the at
tractive Ladies’ Fair at Carusi’s Saloon: and a
larger number, still, to enjoy the acting and say
ings oflhesprighlly and amusing Mrs Fitzwillism.
'lTie spectacle at the fair was one of the most
delightful contrasts to that at the House, where
Mr. Cliiford was administering his dose of Van
Bnrenism that I ever experienced. One was all
brightness and splendor; the other all listtess
ness and stupidity.
. Several attempts were made to adjourn, in the
course of the evening, but they failed. Even
when the hand of the clock was rapidly reach
ing to twelve, a strong attempt was made to pro
long the sitting. The vote on the adjournment,
at midnight, was a tic—ayes 51, nays 51, The
Speaker gave his casting votcin the affirmative;
and the House forthwith adjourned.
From the Natchez Daily Courier.
Mu. Editor:
The following are the reflections of an Amer
ican citizen, who has seen all the efforts of the
reduced prices of labor m Europe, A poor la
borer in Europe always remains a poor man.
Suppose the laboring man under a properly
managed banking system makes two dollars • day
of which by the strictest economy, he can save
half, then at the end of three years by a proper
management of his money, it will amount to the
sum of one thousand dollars or upwards. By re
moving to the Western Slates ho can purchase
a half section of land of 320 acres for SSOO or
less. The remaining SSOO will support him un
til he can clear sufficient land, to enable him to
live comfortably on its produce, and each succes
sive year will enhance the >alue of bis property
and thus make him independent. On the other
band suppose the price of labor and of domestic
articles is reduced one-half, so that a laborer could
save in like proportion, then at the end of three
years he will have saved only SSOO. Consequent
ly he will have to labor three years more in order
to make up SIOOO, wherewith to procure him
self a home.
Foreign products will not be lowered in price
in the same proportion, as domestic, because
their prices are fixed in a foreign market; conse
quently the consumer continues to pay nearly
the same price, notwithstanding bis own price
and every thing else is reduced.
Let the laborer choose between the two. Let
him decide at the ballot box, whether be will
work hard ttiree years or whether he will prefer
six years to gain a competency and indepen
dence.
Let him choose at the ballot box, whether he
prefers a well regulated banking system with two
dollars a day convertible into specie (as the Uni
ted Slates Bank was) or whether he prefers the
Sub-Treasury system, with one dollar .specie as
the price of his daily labor.
Let him decide at the ballot box whether he
will vctc for W. H. Harrison and get two dollars,
or vote for Martin Van Buren and get one.
ANTI-HUMBUG.
In noticing the tunc of Ihe Locofoco paper*,
the reader will remark that they generally ab
stain from alleging any reasons why Mr. Van
Buren should be re-elected. Since the Harris
burg nomination, the administration press has
been filled either with atrocious personal defama
tion of Gen. Harrison, or assaults on his military
skill; but with the exception of an occasional
I mouthy tirade in favor of theoretical democracy,
| it has been studiously silent as to those transcen-
I dant merits of Mr. Van Buren, which entitle him
ito the unbought suffrages of a free people. The
i secret of this is obvious—the career of Mr. Van
I Buren is singularly sterile in those acts which
ensure popular admiration—his political life is
devoid of a solitary cairn to public sympathy.
His private, while undoubtedly that of a gentle
man, is wanting alike in those shining qualities
which captivate the ma-s. or those sterling virtues
whi' h extort respect and esteem even from poli
tical opponents.
Mr. Van Buren has never projected or carried
into execution a single measure calculated to
promote the prosperity and augment the happi
ness of the people. From bis entrance into pub-
lie life as a representative in the legislative of
New \ ork, ;o this, the fourth year of his presi
dential term, he has proposed nothing to recom
mend him to the people. Other statesmen base
their pretensions upon their acts, but it has been
reserved for the candidate for the most exalted
ollice which the nation can confer, to claim the
suffrage* of the majority upon mete professions.
During the whole of Mr. Van Suren's presi
dential term, disaster and aulTering have visited
the country, A blight has fallen on industry.
Labor finds, no longer a recompense. Integrity,
ability and enterprise bring forth no fruits. Mis
ery is rife in the land. Commercial convul
sions and total stagnation have alternated with
frightful rapidity and to the inconceivable detri
ment of the community. With all this accumu
lation of evil the adminia'ralion stands charged
by a very large proportion, if not a majority of
ita constituency. It is accused as having tam
pered with the currency, and destroyed the most
perfect monetary system ever possessed by a na
tion. It is further accused of remaining the pas
sive, if not the exulting spectator of the ruin it
has accomplished. When called upon to relieve
the calamity of which it is believed to lie the au
thor, it raphes that “ the people expect too much
from the government.”—A tacit admission that
the power which overturned the currency and
brought all the subsequent mischief, is wholly in
capable of mitigating the sad consequences of its
own wil l mid destructive policy.
What then are the claims of the executive to
re-election. He has deliberately declared lies in
competency to remedy the existing evils; and
even admitting, for the sake of argument, that the
Jackson Van Buren administration is not the ori
gin of the distress that has prevailed in the coun
try for the last four years, it is time that a party
under whoae calamitous rule nothing hut misfor
tune has occurred, should give way, and be sup
planted by those who not only contend that the
government is hound to protect the people, regu
late the currency, and advance the public weal,
hut are prepared to urge the adoption of meas
urea calculated to attain the great object in view.
It it time that an administration, prolific only in
evil, and characterised by a policy that is either
passively insignificant or actively injurious, but
never decidedly beneficial, should be succeeded
by a parly whoae motto is REFORM ; who hold
that the people justly expect something from the
government; and declare themselves competent
to give them all they require, viz: a sou so cun-
HKXCT AND AN HONEST AND ECONOMICAL ad
ministration.—JV. 0. Bee.
General Ilmtaison's Chahactf.h Defen
drd »t a Loco Fuco Journal.— The follow
ing manly rebuke addressed to the traducers of
General Harrison, is Irom the Ohio Confederate
a Van Buren Journal.
General Harrison.
“A auperanuated and pitiable dotard.”—O.
S. Bulletin,
“As the petticoat General passed through
town,” dec.— Detn. Spark.
Who is lie whom we are describing us the petti
coat General — a auperanuated and pitiable do
tard?” Yourselves will answer—and that not
on compulsion—political aspirations out of view,
yourselves will answer most frankly,—he is a
tried, and a worthy citizen; ay, " seven times
tried, is he ” —in the ordeals of fire and water.
While yet a stripling, you will say, he gave him
aelf to tho arduous service of hia country ; he
exchanged the joys and the safety of family and
home, for the perils, and the hardships of a
dreary wilderness and a savage enemy. For
forty years, thenceforward, did he devote himself
to his country; in peace and in war, in danger
and security in the camp and in the closet, in the
Senate and the battle-field, did he serve that
country in true fealty and untarnished honor;
until even now, grown grey in that hard service
which has brought him nothing hut a glorious re
putation and a conscience void of offence against
the obligations of patriotism, he stands in his
old age, among the millions who surround him,
a model of official purity and uncorruptcd integ
rity. And this is the toil-worn soldier und hon
ored citizen who is described as a “ superanua
led and pitiable dotard,” and u "petticoat Gen
eral !”
Brethren, if we believe another to he the bel
ter statesmen, let us say so. If we think the
aged patriot entertains opinions and sentiments
adverse to the important interests of our country,
let us canvass unreservedly those sentiments and
opinions. But in the name of humanity and
gratitude, let us not tanat the war-worn veteran
with the decrepitude of years, which come* to all
of human kind, nor touch with rude and unfeel
ing hand, his hard-earned garlands, won on
many a bloody field, where brave men fought!
Gentlemen, there is a vast difference between the
goose-quill and the death-dealing sword—a
mighty contrast between the sufferings and the
dangers of a tented field, and the aoft and easy
life of the critic who despises it.
“ Free negroes are almost the exclusive occu
pants ot log cabins !” exclaims that administra
tion organ, the Baltimore Post, in a scurrilous at
tack upon the Ufa and habits of the venerable
Harrison.
What think ye of such insolenlgsncers at your
humble but goodly tenements, yc lens of thou
sands of log-cabin hoys of tho West and South
—ye, whoae hands of strength and hearts of fire
have carried your country’s dominion over a
region more extended than the noblest empire of
the Eastern World!— Lou. Jour.
A Strong Document.
We invite the attention of our readers to the ex
tract below, from one of the must candid, sadslac
lory expositions we have ever read—being n speer h
recently delivered at Abingdon by the Hon. John
Campbell, late Treasurer o( lire (lulled (State*.
Mr. Campbell was in office several years, and en
joyed peculiar opr ortunitis* of acquiring a thor
ough and practical knowbdge of our financial af
fairs He sums up hi* objection* to the tuh-Trca
tury scheme in the following very striking and for
cible remarks :
1 hope, follow citizens, I have made myself un
derstood. I care nothing about phraseology, if |
can ho intelligible. This i* the sulislance ul my ar
gument—That this aub-Treaanry system, which re
quires tho people to pay up all their public dues in
specie, can lie of no benefit to the mass of the peo
ple. That so far os the general government is eon
corned, it has been tried by a regulation of the 'I rea
sury Department, after the hanks had suspended
specie payments in 1837 ; and that lime and eipe
nence, the I csl test of knowledge, ba* proved, it
can bring no good to ihe people. That the great
mass ot the people will he compelled from the value
of our political system, and from habit, to use bank
paper or government paper, from ita convenience
and great facililies
’1 hat a government paper system would he at
tended with infinite more mischief than ilie hank- i
ing system. Thar if the haoks were all to be put i
down, tho paper sysfim would rise up immediately i
in someoiher form. That us the people arc com
pelled fn>m the necessity of the case io lake paj er i
in I heir ordinary transactions, and for every thing j
they sell, the government ought not to require of i
them payment of specie in its collection of the pub- i
lie duet. I
That the revenue flows out es the Treasury in i
durhsrge of 'be public debts, as fsgt as it flow* in ■
payment of the public dues, and instead of flowing
into the circulation iro.u the suh Treasurers, it will
flow directly into the hanks, it at par. or into the
hands of broken if above par, and that Iho paper
will be used in lieu of it in consequence of its su
perior convenience.
I hat the papsr will be the circulating medium,
whether it is at par or below par, Whether the
•i"/ 1 -r 1 ? 1 oml or are m# * iln K "l*ecio payments
• ■ , 8 P B P er •» «t par or equivalent to specie,
it will always be preferred to it because it is more
convenient. It it i„ below p nr , ( hal then the spe
cie collected by the government mid paid out tolls
officers, will be sold for a premium and not go into
the circulation, ns we have seen illustrated at the
seat ol Government, when ihe banks suspended
sjieeio payments in 1837. That the people of this
country,at a distance from hanks, at a time of great
pressure in the money market, will find difficulty
in obtaining specie to pay iheir public, dues, and
that their property must be sacrificed us a necessa
ry consequence if sficcie ii demanded for taxes,
and that the public money would be rendered more
unsafe in the hands of individuals appointed by
the President, and removable at his pleasure, than
in the hands of good sound bank* that have no
legs and can't run oflT. That nothing of any con
sequence tasever been lost hy the hanks, except
during Mr. Crawford’* adinmistrali .n of the Trea
sury Department, who transferred ihe public, money
into banks, not for safe kicping. but to prove I them
from breaking. That although ttie hanks have sus
pended specie payments in lute year*, in which
were deposited the public money, they have not
proved insolvent, and have paid, or will bn able to
pay, every cent they owe the government. That
the mere circumstance it tho hanks suspending
specie payments is no more evidence es their in
solvency than the refusal ol an individual to pay a
debt on the day it was due, was evidence ot his
bankruptcy. That the '-isle governments have
sustained their banks m their suspensions,shewing
that I hey thought under the circumstances it wna
best Ibr the community, that they should have done
so. That if these banka that have suspended are
to he regarded a* insolvent, and called “ Bankrupt
Banka," how does it happen that their notes buy
every thing now thev did before they suspended 7—■
Thai all this clamor against the paper system, is
useltss to say ihn least of ii, am) the *t desman who
supposes he ran benefit the people by it, and give
them a ajecie circulation, only affords evidence
that, lie intends to deceive them, oi ihut be is unfit
(min bis ignorance to bo entrusted w illi the public
confidence. That Ibe subject of the currency is a
very difficult and intricate one, and ought to he left
alone when jn a tolerable good stale. That experi
ments ought not to be mule upon it without the
experimenters had given sume w, idence they were
musters ol Iheir subject, and that mure mischief
had been done to it by "financial quacks" and pre
tenders, than all the other classes of society put to
gether.
Here arc 16 Governments, all sovereign and in
dependent ol each other, and completely sovereign
in rein ion to the subject of Banking If wo weie
even to suppose « hai never will happen, and what
never can happen ashing as they exist as indepen
dent Governments, that two-third* of the Male* of
this Union, would put down their hank*, the re
innining third would furnish a paper system fur the
whole Union. Pennsylvania and New Verb can do
it. vnd yet we are told by a distinguished Senator
of tho United Stale*; the confidential friend and
organ of Ihe President, on the subject of currency,
that the General Government can effect what Bo
naparte performed in the Fn neb nation That the
General Government has the same power over the
currency of the 89 Stales, that a military despot,
• holding in his own hands Ihe rein* of power and
- giving direction to every thing as it suited ins sov
t ereign will and pleasure, had over Ihe destinies ol
France! Hero ore his words ■ "The great I'.mjie.
’ ror of France raised the currency if France from
1 all paper to all specie in six yrais ” He continues :
1 “ The gigantic War*—the National defence*—the
almost fabulous expenses of the imperial court bad
carried Ihe annual naliomd expcitsis to 1 (5 ! mil
lions, and the whole was paid :n gold and silver,
40 millions of people used nothing but gold and
stiver. And cannot wo increase in three or four
years our specie from 90 millions to an amount suf
fieient to pay all the expenses of all wars and fur
nish a (Simmon currency of sjiecio to the people 7”
And he responds himself hy saying “ surely we
can." Mere is an idea of the powers of the Gener
al Government over 86 so /ereign Stales in relation
to a subject over which they have unlimited con
trol. How is the General Government to p-event
lho Stairs from chartering hanks 7 How is the
General Government to prevent tho people ol the
Slates from u-iug hank paper 7 How is it to pro.
vent them from availing themselves of its conve
nience* and lacililie* 7 I should like to see the
clause of the Constitution of the United Slate*
which gives to that Government any such power !
And yet we are told it can do what Bonapurt j did
in France, in relation to the currency !
This siren voice which sings an annual song to
us of the coming ol the golden age, we have heard
fur the last len years. Those who can bo gulled
hy it have lived in this world to 'idle purpose, and
know little of Ihe business habits ol Ihe people of
this country or of lbe principles of our tree insti
tutions
Fellow-citizens, I have Hated la you, and I repeat
the remark, that experience is the best lest ol truth.
That these sviteltis wc have tried and nave wit
nessed their failure with our own eyes, we should
ha> eno confidence in I witnessed the practical
o, erution of the celebrated specie circular ns u was
called ; which was an order from tho Treasury De
partment under the direction of the President of
the United Stubs, that nothing hut specie should
be received in payment of the public lands. To
ray certain knowledge it did not bring one specie
dollar into circulation among the people The
lands were paid (or in specie, m the Treasury of
fice, and to the receivers, and then the specie was
taken hack into the Banks instead ol going Into cir
culation, and the public cediton who had the
Treasurer's draft upon the Banks, lock Ihe notes
of Ihe Banks in preference to specie, because they
were more convenient. Any one of them could
have had the specie, if he had chosen to receive it,
but he preferred the notes.
The drafts that were given upon the re civers in
the West, were negotiated with the Banks, and the
Hank notes were taken,and the specie in Ihe hands
of the receivers, went into the Banks instead of in
to the circulation. I disbursed when at Washing
ton, about 300 millions of the public money before
the Banks suspended specie pay rn nts, and nearly
the w hole of I bat sum was paid in Bsnk notes,
when the public creditor had his option to take
spei ieor the noie*. Why did the public creditors,
who had my drafts upoe the hanks, lake ihe noles
in pn feience ui specie when they could have had
the specie it they had demanded. No other an
swer can he given than that they preferred the notes
because they were more convenient.
Here then, is a fad which is conclusive, that ih><
bank paper will Ire the circulation of this country
until it is substituted by Government paper. The
organs of the administra'ion have disclaimed all
idaa ol a Government pap> r system. It is now al
- on all hands that the destiny of this Repub
lic is sealed forever, when the circulati g medium
consists entirely of pajier issued under the authori
ty of the Genera) Government. Under such a sys
tem we need no longer talk about Stale sovereign
ties and the liberties of Ihe people, ’/ hey will lie
at the feel of tho General Guvemr.ranl, and it must
become a simple consolidated despotism. It would
soon hoard up in its vaults all the specie of iti-j ns
lion as Is the case now in Russia, and the people
would have the Government pa;ieras its represen
tative. The streams of specie would ho const nit
ty running irom Ihe people in payment of their
Lues, under tho Sub-Treasury system, into the
vaults of the Government, whilst the Government
paper would flow out os die circulating medium,
until ihe whole country would he drained ol s|iecie
and flooded with Government pa;>er. Every man
then in the nation would he more or less a creditor
of tho Government, who held any of this Govern
ment paper in his pocket, and of course iii'erested
in sustaining it in all its usurpations and despotism
Under such a system, would it not no perfeci mock
ery to talk about liberty 7 In tins view ofihe sub
ject, how can Ihe sub-Trentury system give a spe
cie circulation 7 TWe Govei iiinent creditor would
do precisely as he did before the establishment of
Ihe Sub-Treasury system when ho had hi* option
to taka tha note* of the bank* or ipecia, and al
ways preferred the former
iaoßnnaß»nass9B9S9»R
K each man hoaitli up specie to pay in hia taxea,
lhal dont put it m circulation. It haa exactly the
contrary tendency. Tho circulating medium, u
that money which the people generally receive
when they sell anyth ng, and pay out when they*
buy any thing. Specie Imarded up to pay taxea
would be used in naither buying or aelling. It.
would lie laid up to meet the demanda of the Gov
ernment. When paid up to the government, it would
’ *° "ci u° t le ?*ub-Trea«ufy vau ha—from thenca. it
i would be paid out to the ( overnment claimant,
who won d aell it to a broker, it a waa worth more
than Hank paper, and lake nolea inexcktnge, or ha
would exchange it at bank lor it. [aper, if it <caa
icorf* no more than the paper. How then are the
people lobe benefuted by the ayatem, which ia to
drain our country of specie, which will require them*
to hoard up the linlo specie they may have ready
for the aheriflf when he cornea around or to have
their property sacrificed for half ita value, if thev
should be unable to obtain it. The aysiem, instead
of giving ua a apccio currency, will drain llieoon*-
try of it, and banish it completely from circulation.
'lf the system is to be founded to the General
Government, it can he of no conceivable benefit to
the people. To eay not hi i gos Ihe great loaaea that
will be sustained by defalcatiuaa, by placing the
public money in the bands of individuals, it will iOc
crease the pressures in the money market—multiply
the suspensions of specie payments—prolong their
continuance, and instead of giving their people a
•pecie circulation, will rivet upon them completely
a depreciated currency.
Fellow-citizens, lam no bank partizan. I never
borrowed a dollar or accepted a favor trom one of
any kind Holding a highly d heat* nnd imtair
tant truet, during a long period of public life, in re
lation to the public money, 1 tumid it necessary to
keep myself clear of all pecuniary entanglements
with banks and In I viduala. 1 am no advocate of
the excesses of banking, or ol a depreciated paper
currency. I aimplv deny that the Sub* Treasury
system will cure these evils, so far at they aflat t
the people. On the contrary, I say it will aggravate
them greatly and ranks them more intolerable..
So much lor this Sub-Treasury syitcm, which
has been recommended by the President,Hour limes
to the American t'ongresa With all my insupera
ble objections to it, I consider it a more innocent
measure, amt oven leas consolidating and despotic
in ita character, I ban other measures which he ms
prested upon Oiingress, and upon all ol which 1
will tnko the liberty of submitting ray views in
due lime.
A 80s UtuxADti) mi ms Motuku.—The
Journal de Smyrna give* the following alory on
the faith of a letter from Adrianople, says it lias
no doubt of ita truth, although it admits that se
veral drama* have been founded upon a similar
occuireuca :
“ About twelve years ago a young Turk left »
village near Adrianople, for the army. Toward*
the end of January he returned, and conclu
ding from the change in hi* appearance that he
could no longer be recognised by hia relation!, he
applied at the dwelling of hia mother aa a stran
ger, and requested hospitality for the night, inten
' ding to make himaelf known to all the family in
[ the morning, aa he had already done to hia sister,
| who lived in another part ‘of the village, and to
whom he had confided his intention of causing
an agreeable surprise to their mother. The old
i woman made some difficulty in complying with
* hia requeat on account of her poverty, but at
j length consented. In the course of the evening,
the young man drew out his purse, in which
I there were about 2,000 piastres in gold, the fruits
of his economy. At the sight of the gold, an in
i fernal thought came over the mother, and, when
her son was asleep, she cut off his head with a
hatchet, and having taken the puree concealed
the body.
Early on the following day, the sister of the
I victim called on her to inquire after the stranger
who had pas«cd the night under her roof; and
surprised at not seeing or hearing of him, sho
told her mother that the stranger was her own
son, and related the project which he bad concei
ved for revealing himself to her. The horror
struck mother now confessed the crime of which
she had been guilty, and her cries ofremoisc ha
ving brought the neighbors to the spot she was .
taken into custody.'’
Cuevas** at New Cartuaoz The river
has broken through the bank at New Carthage,
in Madison county, La.,and made a crsvassk
about fifty yards in width and about thirty feet
deep, frera the river to the bayou in the rear of
the town. The rupture is below the village,ami
the water rushes through it with a velocity sufc
ficient to suck in flat boats that coast along that
shore. One, laden with hay, was a day or two
since drawn in and stove against some limber*
and sunk.
By the present time the rise in the river hat
probably overflowed the entire front of New Car
thage. The irruption of the water through the
cbzvaisk has not raised the waterin the Round
away bayou ; it has only augmented the rise low
er down and on the Tenasa— Natchez Free Tra
der of April 21*1.
__ COMMERCIAL.
Latetl dates from Liverpool, March 24
Latest dates from Havre March 24
New Ohleans, April 23.
Colton. —Arrived since the 21>t instant, of Lou
isiana and Mississippi 213 b bales, Tennessee- and"
North Alabama 982, Arkansas 62, together, 3182
bales. Cleared in the same time, for Liverpool/
4422 bales, Amsterdam 1536, Havana 600, Boston
242, Baltimore 32, together, 6832 bales; making a
reduction in stock of 3650 bales, and leaving on
hand, inclusive of all on ship-board not cleared on
the 24th inst., a stock of 207673 bales.
LtvzarooL classification*.
Louisiana and Mississippi —Ordinary, 5J a 6i ;
Middling, 6J a 6j t Fair, 7ja 8; Good fair, 9 a 9±;
Good and line, 10 a—. Tennessee nnd N. Alaba
ma—(Mimry, —a 6; Middling, 5$ a 6; Fair, 64 a
7; Good fair, 7$ a 7jj; Good and Fine, Bs.
STATEMENT OF COTTON.
1839. Oct. 1, stock on hand, 15524
Receipts last three days 3182
“ previously, 805981 809163
8249‘7
Exports last three days, 6832.
do. previously, 610492 017314
Stock on band 2076T3
Sugar — Louisima. —The demand in the city
has further improved within the last few days, and
quite an active business has been done in the va
rious qualities from inferior to strictly prime. The
latter description continues scarce, and, indeed, the
whole stock on the Levee, which consists, princi
pally, of the inferior aad middling qualities, is very
much reduced, the receipts having been light for
some days past.—We continue our quotations at
their former range—say 2} a4J cents, remarking
that the slight improvement in the prices of the
better qualities,noticed in our Wednesday’s report,
is fully sustained, and that the inferior grades have
recovered a little, and become more firm, within
the last day or two. On plantation there is little
or nothing doing beyond the shipments on planters
account. The only sal* that has come to our knowl
edge is 100 hhds at 4 cents.
Molasses.--There have been but light receipts
during the last few days, and at the same lime a
very fair demand; —eonsequently the stock for sale
on the levee is reduced to a moderate quantity;—
prices, however, ate without change, and we 'still
quote at IS a 19 cents per gallon in barrels, which
rates are readily obtamed for parcels in good order;
Wc note a sale of 20,000 gallons on plantation
above the city at 14 cents, 'lint is tb< Only tran
saction which we have beard of—let* below the ci
ty are still held at 15 cent*.