Newspaper Page Text
ifci-lUcchli) Chronicle & Sentinel
by william s. Jones
Othromcle emit Smttnel.
AUGUSTA, Gr A •
THURSDAY MORNING, .. OCT. 9,1851.
SAMPKL BARNETT, Associate Editor.
The Importation of Slaves.
We hare heard bat one voioe in relation to
the law of last session, removing the restric
ticni upon the importation of slaves into this
Sta’e, for the purpose of sale. That voice
has been— Repeal — Repeal.
The re-establishment of the old law will
probably be one of the earliest acts of the
Legislature. Os the men who voted for the
repealing statute of last year a large proportion
are now convinced of the impolicy of their
action. Feeling indeed much more than policy,
had to do with the enactment of the present
law.
Never was a disastrous law more singular
ly ill timed. When Cotton was high and
sprices inflated, and the tendency to buy already
jexcessive, the facilities were at one stroke
immeasurably increased and the temptation
brought home to every man’s door. The
extension of credit, as well as the presence of
temp’ation, enharced the number of purcha
ses. The man who could not pay the whole
in cash, would not go abroad for a Negro, bat
might be induced to purchase part for cash
and part on credit. The scum and offscouring
of the jails, the refractory, from
other S.ates poured into Georgia, in vastly
more than their due proportion to the sound
in body and conduct The demand might be
sufficient to bring in some of the sound mi
terial, but we wore sure to get the scum. It
was an importation of an alloy of vine and ill
conduct for our own slaves.
For these Negroes, we paid in cash or its
equivalent. Prices were controlled not by the
price Cotton would bear the next year, and
the years thereafter, but by that it had borne
the previous year. Instead of being pur
chased at aveiage prices, they brought rates
not known before, since the last great revolu
tion in trude. The money went out, and wo
had the slaves as the equivalent.
Now mark the effect. If those slaves, bought
at the rate of from SI,OOO to $l,lOO fora
Negro fellow, should all remain in the S ate,
the average prise being from S6OO to sß<H)>
the loss on each fellow was S3OO to S4OO.
The average price is the truo criterion of the
value of the labor to the State.
Out this is not all the loss When Cotton is
high, inferior qualities of land can be cultivat
ed profitably. When it sinks in price, ths
same land does not remunerato for the labor
expended on it. The Negroes themselves—
or others displaced, by them —are carried off in
search of richer lands. Georgia loses not
only the difference between high and average
prices, but the property purchased itself.
The same capital devoted to manufacturing
purposes—to the completion o p our Railroad
system —to the improvement of our lands—to
the construction of better inuses—to improve
ment in our mode of living—would have been
fattened to the soil. It would have become
part of the material wealth of the State, or,
at least, have contributed to the gratification of
the people in an improved condition of life.
At no time in our history could the change
have been more uufortonate. For many
year*, with slight interruptions, the prohibition
had prevailed. At one time for five years,
and at another for one year only, the prohi
bition had been suspended. Since 1829 it
bed been in force until 1812, when it was
repealed, and the repealing law itself ropealed
at the very next session in 1843. We believe
the experience of the past two years, will
prevent its suspension at any future time
during the remembrance of the present gene
ration.
Millions of money have left the State, for
slaves whose characters are below the average,
\ and who will not remain perman?n!ly in the
State to compensate for the capital they have
displaced. We trust that the prohibitory law
will be reinstated, and that the standing and
correct policy of the State will not again be
lightly interfered with.
Exports op the Produce and Manufac
tures ok the United States.— ln the annual
report of Mr. Robert J. Walker, late Secretary
of the Treasury, dated the Bth of December,
1847, will be found the following estimates of
the exports of tho produce and manufactures
of the United States to foreign countries :
‘By table BB.it appears 'hat the augmenta
tion of our domestic export, exclusive of specie,
last year, compared with tho preceding, was
$48,856,602, or upwards of 48 percent.; and at
the same rate pet cent per annum of augmenta
tion would amount in 1849, per table CC, to
$329 959 993. n
In table CC of that report, the domestic ex
ports ol the United States, exclusive of specie,
are stated and estimated as follows :
Actual.
1846 $101,718,042
1847- 150,674,844
Estimated.
1848 222,898,350
1849 329,958.993
1850 488,445 056
1 —51,041,303,399
The official statements show
that these exports were in
1848 .$132,934,121
1849* 132,666,955
18*0 134,900,265
$640,802,058
The difference between tho estimate of Mr.
Walker, and the result in this period of only
three years, is six hundred and forty millions of
dollars. — Republic.
Railroad Junction. —We have great
pleasure in publisbinglthe news of the junction
of the Central and Southwestern Railroads
at Macon. Our friends in the Southwestern
part of the Slate will feel that ther are in
deed our brethren, closely linked. We learn
that the junction with the Macon & Western
Road is fait progressing, and wifbe completed
on the first of the ensuing month. The friends
of internal improvement will hail this great
step in our means of rapid transportation,
with great joy.— Sav. Rep.
Money Bubbles.
The moat famous of the kind, says the N.
O. Bulletin, appeared almost contemporane
ously in France and England, in the eighteenth
century, and were known as tne Mississippi
and Sonth Sea schemes. The Journal of Com
merce seems to recognise in our lavish and
prodigal expenditure of money, a family like
ness between the present condition of the
country, and that of France, during the preva
lence of the Mississippi mania. Our design is
not to detect any similitade, but simply to
chronicle, as agreeable reading, some of the
particulars of those two great schemes, which
so infatuated and possessed the public mind, of
the two most enlightened nations of the wort h
as to have threatened to unhinge the political
and social condition of Europe, and involve the
whole Continent in a general bankruptcy.—
First in order, as well in regard to priority and
magnitude, was the Mississippi scheme. The
author of this magnificent bubble and stupen
dous fraud, was John Law, the son of a rich
banker of Edinbnrg, in which city he was born
in 1671. He was a man of fine abilities, ar d
particularly skilled in mathamatics, and inti
mately acquainted with all matters relating to
banking and finance. He possessed, in an
extraordinary degree, the qualifications of a
handsome person, and an unusual fund of wit
and generous animal spirits. He abandoned
the pursuits of his calling, banking, and became
a fashionable and successful gambler, and from
his superior add'ess and companionable habits,
he readily obtained the entre to the best society
in London. Engaging iu a duel, in which he
killed his adversary, he was compelled to fly to
the Continent, where he still sustained his for
mer reputation, of an accomplished gentleman,
and most successful gambler, still associating
with the highest personages. Law was ths
gieat projector of a paper currency, and was
anxious to commence his expjriment of a Back
with paper issues in one of the small States of
Italy, tho Prince of which made this significant
answer to Mr. Law’s proposition: “No, Mr.
Law; 1 am by far too poor a potentate to be
ruined; but, if I know the French, they are
exactly the people with whom you will suc
ceed ” Law eventually came to the same
conclusion: and in 1714 he removed to Paris,
mingling again with the best society.
Upon the death of Louis XIV and the acccs
sion of the Duke of Orleans to the Regency,
the money affairs of France were involved -n
the most frightful confusion, and a national
bankruptcy seemed to be inevitable The
natonal debt amounted to 3,111 000,000 livres
(£.-22,000,000 sterling), bearing an interest of
86,000,C00 livres (above £6,000,000 sterling.)
At this juncture, this bank theorist opportunely
made his appearance, and proposed to relieve
France of ali her difficulties. It is worth while
to dwell a little upon the arguments with which
he pressed his grand idea of a paper circula
tion; they are the same that are used now a
days by the advocates of an irresponsible paper
currency. Gold, silver, copper, or any othor
kind of coinage, he ssid, are not real wealth;
they are only signs or representatives of real
wealth, and derive their value from publis
confidence. It does not matter, therefore,
what the kind of coinage be which a nation
agrees to ÜBe; paper coinage or a leather
coinage is as good as a metallic one. A metal
lic coinage does not cot stitute real riches, but
is valuable only be-ause the public choose to
consider it valuable; and if the public will only
do the same with paper notes, then paper notes
will be on equality with gold and silver coin.
What is s louis d’or but a b ink note, only made
of gold; or a crown, but a bank note, only
made of silver? It does not signify, therefore,
what a nation chooses to consider money, be
it even oyster shells; for such will serve as a
sign or representa’ive of real wealth, the same
as a piece of metal.
I t is not worth while to refute these obvious fal
lacies. Gold, if it does not of itself constitute real
wealth, is relatively of more value than paper;
—it is a precious metal, and useful in the arts ;
it is scarce, and obtained with difficulty, at great
cost of time and labor ; while paper, also a use
ful commodity, from its cheap production, has
an infinitely less intrinsic value. The precious
metals are dear substances; paper is a cheap
substance. The value of a metallic currency is
therefore not so liable to fluctuation as one en
tirely of paper. Furthermore, paper money, to
be a safe circulating medium, must represent
real wealth, and not extend beyond the legiti
ma'e demands of circulation. The proposition
of Law wns to establish a National Bank, whiejh
should issue notes on the basis of landed prop
erty and of the State’s revenues; it was a capi
tivatingone, and although rejected by the Coun
cil of Finance, was highly favored by the Re
gent, through whose influence he obtained leave
to establish a private bank. The institution
was so successful, that in the course of three
years it became, what It was originally designed
to be, a national institution, but from being a
mere bank, it became a gigantic commercial
company, and this was the germ of the Missis
sippi scheme or bubble, of v hich Law was the
chief manager.
We have condensed from Chambers’ Miscel
lany a history of this stupendous fsaud:
“ In 1717, an institution was estabbshed un
der the directorship of Mr. Law, called the
“Company of the West,” or more commonly
the Mississippi Company : to which arrant was
made of tho whole oi that tract of land on the
American continent through which the Missis
sippi flows —such at the time being French
property. Tho s.ock consisted of 200,000 shares
at 500 livres each. On the 4th of September,
1718, the farm of tobacco wrs made over to this
Company for a consideration ; three months
afterwards it acquired the charter and proper'y
of the Senegal company; and in May, 1719, it
obtained from the regent a monopoly of trade
with the East Indies, China, and the South
Seas, on condition of paying the debts of ll;o
East India Company, then dissolved. Thus
enlarged, the Company abandoned the name of
the “ Company of the Indies,” at the same time
creating 50,000 additional s! ares at an increased
price. Nor was this all. In July, 1719, the
Mint was made over to tho Company of the In
dies for a sum of money; in August following,
the farming of the whole taxes of the nation
was purchased by the Company ; and the privi
lege of receiving other branches of the revenue
quickly followed—so that before the end of
the year 1719) the Company of the Indies had
incorporated within itself nearly all the commer
cial enterprises of the nation. Law was thus
the'director and manager ol two great national
institutions—the Royal Bank and tho colossal
trading company called the Company of tho
Indies. In February, 1720, these two were uni
ted j and Law,.-the founder of both, became the
most powerful man in France. Between tho
date of the incorporation of the two concerns
and the Ist of May, 1720, she bank ordered a I
fresh issue of notes to the amount of 1,696.-
400,000 livres, making the total quantity issued
amount to the enormous sum of 2 696,400,000 1
livres.
“ The end of the year 1719, and the beginning
of the year 1720, was a period of wild infatuation.
The frenzy extended to all ranks and classes. 1
The shares soon rose to 5600 livres each. The
state creditors being paid in bank notes, such a
quantity of paper was throwninto circulation that
ji could be disposed of in no other way than by
the purchase of East India stock; and the com- 1
petition of these purchases against each other
increased the price of shares still more rapidly.
AUGUSTA, GA. FRIDAY MORNING, OCTOBER 10, 1851,
In November, 1719 they were sold at 10,000 livres
each, or at twenty times the original price.
“So sudden and rapid was the rise of the
price of shares, that enormous fortunes were
made in the course of a few days, and many in
stances are recorded of peisons in the lowest
ranks oflife suddenly realising immense wealth
Money circulated in profusion, the lower classes
indulged in luxuries previously unattainable,
and the nrice of commodities rose without in
jury to the people. The ell o ( cloth, which had
sold for fifteen livres, now sold for fifty ; and
the pound of coffee rose from fifty sols to eigh
teen livres. Wages rose accordingly. In the
course of three months, the silversmiths of Paris
had r°ceived orders for, and manufactured above
£7,000,000 worth of plate. Paris was crowded
with foreign visitors, who had come to speculate
in the stocks. No f)wer than 305,000 stran
gers are said to have been living in Paris in No
vemi er, 1719, and many of them were cbliged to
live in granaries and lofts, there not being suffi
cient house accommodation for them all. The
promcnaders in the streets were clothed in
velvet and gold; and the winter of 1719-2 P, was
more brilliant than the finest summer ever seen
before.
“ Thebubble, however, was already full blown.
The credit of the bank and of the India Com
pany was at its heisrhtin the months of November
and December, 1719, and January, 1720, when
shares In the Company were selling at 10,000jffrres
each. Such was the abundance of money hi the
bark, that it offered to lend sums of any amounte
on | roper security, at an interest oi only 2 per.
cent. Now, however, a drain of specie from the
bank began tube discernible. Numbers of per
son possessed of stock in this Company—either,
foreseeing disaster, or haunted with a vague
suspicion that so prosperous a state of things
could not last long—began to sell out and con
vert their shares into gold and silver, and othsr
precious commodities, which they either hoarded
up, or sent secretly out of the country. Various
stock-jobbers remitted hundreds of thousands of
louis d’ors to England. These examples were
imitated by others; for nothing is more con
contagious than fear; and in a short time 500,-
000,000 livres in specie were sent out of France.
*‘ln aainstant —so suddenly, in fact that it is
impossible to trace the steps of the process—the
nation, which had been glorifying iu its good
fortune, was struck with dismay and despair
The use of specie had been prohibited ; but this
could not restore confidence in Law’s paper,
and nobody would accept it willingly. It was
felt universally that Law’s scheme had been a
bubble, and that it had now burst.
“All efforts to arrest the progress of the panic
wore in vain. In consequence of the decree
ordering all payments to be made in paper, a
fresh issue of notes had taken place, and in
May, 1720, the notes issued amounted to 2,600,-
000,000 livre3, while the quantity of specie in
the kingdom was estimated at 1,300,000,000, or
only half as much.
“On the 27th of May, the bank stopped pay
ment in specie ; and on the same day Law was
dismissed from the office as minister of finance.
D’Aguesseau, who had been dismissed from
the ministry in 1718, on account of his opposi
tion to Law’s projects was now recalled; and
by his advice a decree was paseed on the Ist of
June, recalling the decree forbidding the amass
ing of specie. In order to assist in absorbing
the immense mass of paper money, an ißsue of
25,000,000,000 bank notes took place on the se
curity of the revenues of the city of Paris, and
bearing an interest of 2J per cent. The notes
which this new issue was to be the means of
withdrawing, were to be publicly burnt. On the
10th of June, (he bank was re-opened for the
payment of small notes —notes of lOiiviesand
a little upwards. As almost all the population
of Paris rushed to the banks to exchange their
small non s for specie, the avenues to the building
were blocked up, and hirdl v a day passed in
which five or six persons were not crushed to
death an i trampled under foot. Silver becom
ing scarce, the bank was obliged to cash the
notes in copper; and persona might be seen toil
ing along with immense of copper money,
which they had procured in exchange for notes
—glad, howevei, that they had got anything at
all. As the old notes did not come in so fast in
exchange for the new ones as was expected,
fresh measures were adopted to attract them.
Upwards |of 30,C00,000 of perpetual annuities
were created, purchasable by notes ; and if the
people bad responded to ’he invitation, and pur
chased the annuities, about 2,000,000,000 of the
notes would have been retired in this way ; but
notwithstanding the eagerness that prevailed to
get rid of tho notes the term 3 of the offer were
so unfavcrablei that people still hesitated, and
preferred keeping the notes and taking the
chance of what might yet occur. To counter
act this hesitation, a decree was published on
the 15th of August, declaring that ali notes of
10,000 or of 1090 livres should have no currency
except in the purchasejof the annuities; but as
the hesitation stiff continued, another decree
was passed, declaring that notes would bo good
for no purpose whatever after the Ist of Novem
ber, 1720. Numbers, however, kept their notes
even after the specified time, in the vain hopes
of better termß ; and the consequence was, that
large quantities of Law’s notes remained in
houses as family lumber, down even to the
date of tho French Revolution when they were
produced as curiosities, to be compared witn the
assignats.
Such was the end of the famous Mississippi
bubble, by wlvch a few individuals acquired
large fortunes, while thousands of families were
ruined, and the nation sustained a shock which
it did not recover for many years.
The South sea company was a cognate scheme;
it was founded by the celebrated statesman
Harley, Earl of Oxford, in 1711. It took its
name from the fact that in return for certain un
dertakings agreed to be pe-formed by the Com
pany, tne Government was to grant them a
monopoly of the trade in the South Sea, or, as it
is now called, the Pacific Ocean ; and yet but a
single voyage was ever performed to that region
under the auspiceaof the Company. The Com
pany flourished as a monetary concern, and was
a formidable rival of the Bank of England, from
which it took the contract of paving the public
debt, then amounting to £30.000,000. Immedi
ately alter this event, the stock rose from 130
to 400, and a general furor pervade J all classes
to invest, and although the Mississippi scheme
was before (hair eyes, as an example of popular
fatuity, the contagion was irresistible, and the
people rushed headlong into the same folly.
There was no limit to the extravagant anticipa
tions with which the public m nd became infla
ted; to use ths words of a looker on, “it seem
ed at that time as if the whole nation had turn
ed stockjobbers. Exchange Alley was evrry
day blocked up by crowds, and Cornhill was
impassable from the number of carriages. Ev
erybody came to purchase stock. “Every fool
aspired to be a knave.”
The South Sea scheme had not even the merit
of the Mississippi scheme; it was a simple
empty bubble, inflated by the breath of knaves,
and its explosion was instantaneous; the whole
duration of this nefarious humbug did not ex
ceed eight months. When the stock reached its
maximum, the directors commenced selling out;
a panic immediately ensued, and shares fell
from 1000 to 700 ; down again they went until
they fell so 400. and then again to 130. The
Government, with the aid of the Bank of Eng
land, attempted to support the sinking company,
but it was of no avail ; the demolition of the
South Sea Company was conolete. The Di
rectors were tried, and punished, either by fine or
Imprisonment, or both.
There were tho two great money bubbles of
modern times ; with which, whether considered
as to magnitudo or the disastrous resulting con
sequences, there has been nothing in our day
comparable.
Arrival of Mrs. Jvdson.—Mrs. Dr. Jud
dan and children arrived in Boston by tbs
Canada, with health much improved by their
voyage from India.
3 A few days ago we met with a beautiful young
girl whom we knew to be e poetess at first Sight, and
e we told her so. She earnestly denied the fact, but
3 the interview closed with her promising to make an
' effort at poetry and to send os the result. Here it is,
* and we thank her for it. It is as sweet and fresh as
a young spring rose sparkling with the morning
8 dew:
’ From the Louisville Journal.
i A merry girl of eighteen,
i ‘ I’ve snatched a poet’s pen
To prove that l a more truthful
3 Than the poetry of men.
s Though like some untaught warbler,
s Thit sings its first, first song,
1 I can but flit across thy path
j Unnoticed in the throng.
I’m a merry girl of eighteen,
Reproved because I’m gay,
As tho’ ’twere really sinful
, To chase dull care away.
But who would not be happy
In a world as bright as ours,
Where the sunny path of girlhood
Is marked with budding flowers 7
Where affection's daily wreathing
A chaplet round my brow,
• And a loving heart is breathing
i Its first and warmest vow I
i (Tho* I’ve never wooed the muses,
I have borrowed Cupid’s dart,
/ nd bent his little bow
To strike a gentle heart.)
Then the sky is blue above me,
And its rising sun eo bright,
That the elouds that flit before it
Seems but mist—they are so light.
1 E’en the little dew drops sparkle
As the stray beams o’er them play ;
And dame nature smiles in gladness
As she herself feels gay !
And, if I sigh for beauty,
I behold it in each flower;
Or if I pine for music,
There is music in each bower;
And then my diamonds glisten
In the shape of datk gray eyes,
Which, though to you they’re valuoloss,
To some would be a prize.
Need I be gloomy-hearted,
When all is fresh around me ;
Or sigh for joys departed,
When so many jays surround me 1
Or, because a night of darkness
May gather round my way,
Shall I dim with clouds of sadness.
Ail thesunshine of to-day 1
MALVINA.
The people of Graysou county, Va., met in
public meeting at their Court house on the23d
September and offered a reward ol SIOOO for
the apprehension of Jarvis C. Bacon, the Ohio
Abolitionist, who recently, under the garb of
religion, sowed his vile sentiments baoad cast
amongst the negroes of that county, stirring
them up to revolt, &c. Messrs. W. H. Cook,
of Carroll; Andrew Fulton, of Whyte, and
Fayette McMullen, of Scott, adpressed the
people.
Cheap Gas in London.—The Secretary of
tho Gas Consumers’ Compahy, at a meeting
held at the Yorkshire Stingo Tavern, Mary
lebone, London, to take into consideration a
proposal for the supply of cheap gas, staled
that the now company would engage to supply
gas of the best quality at a maximum price of
4s- per 1,000 feet, to limit the dividen i to a
maximum of 10 percent., and all other profits
beyond 10 per cent, to be applied to the reduc
tion of the price. The eapitolrequired would
be £120,000, the preliminary expense out of
their own pockets. Morylebone is one of the
largest districts of London.
New York *nd New England.— Tho Bos:
ton Traveller, alluding to money matters, says
‘ The Metropolitan Bank is to the New York
ers what the Suffolk Bank is to us It takes
on deposite the bills of all those institutions
which maintain a balance in the hands of tho
Bank to meet their bills. Os course no fear is
felt with regard to those banks that are received
on deposite by the Metropolitan. The circu
la ion of Nsw York as compared with Now
England, is as follows, with the coin held :
Capital. Circulation. Coin.
Maine $3,500,000 $2,900,000 $645,000
N. Hampshire••2,soo,ooo 2,100,000 136,000
Vermont 2,500,000 2,800,000 150,000
Massachusetts 38,000,000 17,000,000 3,500,000
Rhode Island*. 1’,000,000 3,000,000 280,000
Connecticut.. >10,600,000 5,500,000 650,000
$59,101001 $33,300,001) $6,361,000
N. York State $23 000,000 $18,000,000 $1,000,000
N. York City 35,000,000 7,000,000 6,000,000
Tho advantages of the Suffolk system are
thus fully demonstrated. In fact, one Bank
maintains in State street a circula'ion of $33,-
000,000, without an/ dread on the part ol the ,
people, while New York City, with double
the coin, is uneasy about $25,000 000.
Explosion cf the Steamboat Brilliant.—
The steamboat Brilliant, Capt. Hart, left hei
wharf at the head of Conti street, on Satur
day evening, at 5 o’clock, for Bayou Sara and
the intermedia e landings, and had proceeded
up the river as far as Bayou Goula, yesterday
morning, about 8 o’clock, when she exploded
bersecond starboard boiler, which carried away
her main cabin and state -rooms, as far aft as
the ladies’cabin, and everything forward ol
the boilers, mak.ng a complete wreck of the
boat above the hull. Capt. Hart stated he had
from 80 to 100 deck hands and firemen on
board at the time the explosion took place.
Alter the accident, he could not find more
than about twen'y-iive The number of
Ca-sengerson board he could uot ascertain,
ut thinks the loss must be very great.
The following are the names of tho persons
killed and scalded, as near as could be ascer
tained:
Jae. Fullerton, mate, lost.
J. A Cotton, first clerk, badly scalded.
S. G. Cole, assistant clerk, badly scalded.
J Caines, second clerk, slightly scalded.
Mr. False, second pilot, badly scalded.
Robt Doyle, firstengineer, bad'y scalded*
Mr. McCarty, secoud engineer, slightly scald,
ed
Several firemen and cabin boj a were slightly,
and others badly scalded. Capt. Hart was iu
the wash-room when the boiler exploded, and
was not injured. The above were all the
names we could learn, from the officers of the
Montgomery.— -N. O. Bulletin.
Fire. —About 3 o'clock yesterday morning,
just as our paper was going to press, a fire
broke out in Mr. If. R. Box's ha: store in
Bronghton-street. The engines wsre prompt
ly on the ground and put out the fire before it
extended to anv other premises. We un !er
stand Mr. B. has an insarance on his stock,
but we ould not learn the amount, and it can
hardly cover his great loss, as his s ock which
wa= not burned is alqaost ruined by being wet
The second floor was occupied by Mr Jame
Stratton, and his stock of gas fixtures wsre
considerably injured; but we learn that his
lose is covered by an insurance in the Howard
Insurance Company of (few York. The build
ing was owned by Isaac Cohan, Esq.
Mr. Box has au insurance of $7,000 in the
offices of the Southern Mutual, and the Co*
lumbia Insurance Companies. We regret to
learn that Mr. Boxloatall his books, and from ]
some eircumstanee, he is led to believe that 1
his store was broken open and the fire inten
tionally kindled. No lights were lit on the
previous evening, and there had been no fire
in the store for a week.— Sav. Rep., 4th inst.
TELEGRAPHIC NEWS.
1 r AniiuStted for th« Chronicle & Sentinel
LATER FROM EUROPE.
ARRIVAL 0F THE
STEAMER HUMBOLDT.
New York, Oct. 8 P. M.
The steamship Humboldt has arrived.
The steamers Hermann, Atlantic and Asia
bad arrived out at Liverpool.
Messrs. Maitland, Fawkes & Co. of Liver
pool have failed.
France.—La Press, at Pans, has been seiz
ed by Government for making certain obnox
ious articles.
The President will make a tour through the
provinces prior to the meeffng of the Assem
bly.
Spain.—Advices from Madrid state that
8,000 troops had been sont to Cuba. A war
like feeling prevails, and propositions had been
made to declare war against the United States.
Portugal.—Affairs in Portugal are repre
sented as in a very precarious state.
Liverpool Market.
Cotton was dull, but wi'hout cbenge in prices since
the sailing of the Cane da. The average daily sales
amounted to about 5,00 f bales.
Flour steady at full rates.
Corn firm, and 6d. higher.
Sugar steady. Coffee dull. Teas uochang. d.
In Manchester trade was active, and prices firm.
Money easier. Consols closed at 95$ to 96f.
American securities firm.
New York Market.
Wednesday, Oct. B. Colton.—Prices tending
downward. 400 bales sold to day.
M lscellaneous.
The Africa sailed to-Jay with 5450.0C0 in Specie.
A dreadful gali has occurred on tho coast of Nova
Scotia. One hundred nad fifty vessels Imva been
driven ashore, end 300 lives lost.
Arrival of the Prometheus.
Three Weeks Later from California.—New
York, Oct. 5.--Tho steamer Prometheus
arrived last night from San Juan de Nicara
gua, which place she left on the 26:h ult. She
brings 45u passengers and one hundred end
thwenty three thousand dollars in gold ou
freight, SIOO,OOO of which is consigned to
Thompson & Hitchcock.
The steamer Pacific, with dates from Bau
Francisco to Sept. 9th, arrived at San Juan
de Sol on the 20th ult., having made the run
down the Pacific iu less than fourteen day*.
She had on boar ! 329 j assengers and SIOO
- in gold,
The steamer Monumental City, Capt. Nor
ris, of Baltimore, left San Juan de Sol for
Reaiijo and Panama on the 20ifa.
The steam propeller Las yettc, it was cur
rentiy reported, had been totally destroyed by
fire in the harbot of Chagres ou the llih ult.
Her cargo was partially saved.
'1 he steamer Tennessee sailed from San
Franciacoon tho l«t for Panama, with $1,700,
000 in gold, and the Constitution with SIOO,-
OUO. The former had 250 and th > latter 120
passengers.
At the State election in San Francis: tohe
Whigs carried every ward but one. and their
total majo ity was about 1000. Sacramento
City and County gave 400 Democratic majori
ty. Tee returns were so imperfect that it
was impossible to determine who was elected
Governor. In reference to the balance of the
State ticket, the Aita California says that tho
Democrats were probably successful. They
hid also doubtless elected their two Congress
men. The Legisiaturo was doubtful.
The clirper ship Flying Cloud bad arrived
at San Francisco, from New York, iu 89 days;
being the quickest passage on record.
The mining accounts were very favorable.
A destructive fire occurred at Marysville on
the 30th of August, which consumed 3 cqpares
and 80 houses iu the business part of tho city.
The loss is about $500,000. Faust, Adams &
Co , who were the heaviest losers, lost S3O -
COO. ’
' The Indians were very troublesome be
tween Sacramento and Salt Lake. Several
emigrants had been killed, and the mail riders
had been attacked, but escaped.
Dates from Astoria to August 27th mention
the death of Mr. Gaines, wife of Gen. Gaines.
Tho steamer Fawn, on her trip from Sac-a
men:o < Vernon, ou August J6:h, exploded
her boiler, killing Clark, the Engineer, and
Annerson, the fireman, and badly wounding
Captain Van Gasper and many of the passen
gers. Several of the latter are missing.
Th < grea est excitement attended the case of
\Vhjtaker and McKenzie at San Francisco.
They were arrested at the instsnee of the Vigil
ance Committee, and kept in their custody,
having confessed to a number of bold and
daring robberies. On the 26tb, before day
light, t: e city authorities proceeded to the
rooms of the Committee, and without much
hindrance conveyed the prisoners to the city
jail.
When the populace were informod of this
the wildest excitement was manifested, and
finally on Sunday afternoon about 2 o’clock
i they proceeded to the jail and forcibly rescued
the prisoners, and in an incredibly shoit space I
of time launched them into eternity, amidst
shouts of gratificatiou from the crowd After
hanging an hour they were cut down, and Mc-
Kenzie being pronounced not dead by the
physiciao, he was again strung up till life was
extinct. The crowd then quietly dispersed,
and order was restored. Some shots were
fired at the jail, but no one was seriously inju.
red.
Robinson, the man nang at Sacramento,
was also taken by the people from the jail, and
his confession is a catalogue of villaniea, as
those made by the man Stuart.
Markits.— The markets were quiej, in con
sequence of the election, but a brisktrade was
expected in a few days, this being the season
that miner* lay in their winter stores. Flour
was active aud prices firm. Gallegos &llax
all’s were quoted at sll 50 a1 it sweet Wes
tern, $1050; Corn, $3 a350 ; Corn me»l,
$7,50 f Mess Pork, sls; clear do sl7; Hams
f)0; Lard, sl4; Butter, 515 a 40o ; Cheese,
10 a 15c, Boots and Shoes were abundant,
and clothing genet al'y dull, from the large
supply. The same map be said of Cheese and
a variety of other articles.
Philadklpuia, Oct. 6. The steamer
Commsdore, for Mew York from Stoningtoo,
ran down tbo sloop Nenesuci* last night,
bonnd from New York for Westport, Ct.
Captain Buckley was severely injured. The
orew was saved*
VOLUME XV.-KO. 123.
Commercial.
AUGUSTA MAIIKKT
VV EDKEBDA Y, P. M.
COTTON. —Tho market continues dull, and pri
ces depressed. Fair 8| cents.
NFW ORLEANS, Oct. 27, P. M.— Colton. —
The demand has been fair and resulted in the sale of
3500 bales at irregular priees, but fully establishing
yesterday's decline. Inferior none; Ordinary 7 a
; Middling 7* a ?f 5 Good Middling 8 a 8* s Mid
dling Pair 8J a 6|} Fair 9 a—.
Stock on band Sept. 1, 1851 bales. 16,108
Arrifed since 67,369
Arrived to-day 5112
„ J „ 88,689
Eiported to date 28,902
Exported to day ’ 28,902
Stock on hand and on shipboard not cleared* £9,687
,„^? ur —Sales confined to retail. Yesterday 500
Illinois and St. Lo iis were sold at. $3.80 the super-
Si. 60 tbe extra, not bef.re reported.
sacks weavily were sold at 36c. and
100 Yellow at 50c.
Baton.— 60, 20 and 16 casks, mostly Sides, were
sold on private terms, supposed to be under 11c.; 7
casks Si les were sold at lljc., and 4 casks Shoul
ders at 9c. I
Freights.—A. ship taken for Liverpool at £d.
Exchanges. —Demand extremely limited and sales
have a downward tendency. London. 10 a 11 per
ct. premium; Paris, 5f.12* a 5f.17£ ; New York 60
days, 2a 24 per ct. discount; do. Sight*. 4 a 1 per
ct. prem.j do. 10 days Sight, per ct. pren». ; do.
Bank Cheeks per ct. prern.
SAVANNAH, Oct. B.—CoKon.—The demand
was good yesterday, the sales reaching 215 bales, at
prices ranging from 8| a94 cents. Prices drooping
and in favor of buyers, 0
EXPORTS^
SAVANNAH, Oct. 6. —For Boston, barque Cbas.
Willictn—22o bales Cotton;
CHARLESTON, Oct. 7.—For New York, Liue
ship Julia Howard—67 bales S. I. and 1.003 do
Upland Cotton.
For Baltimore, M. L. schr. D. H. Baldwin—lso
bales Upland Cotton.
gripping intelUgtntt.
CHARLESTON, Oct. B.—Arr., steamship Ma
rion, Berry, New York ; Ur. ship Triton, Smith,
Liverpool ; Br. barque Heath, Primrose, Havana ;
C. L. bark Velocity, Ryder, L’cston ; Ketch Broth
ers, Lirett, Now York; schr. Arcturus, Haskell,
Boston. Cleared, Line ship Juiia He ward, Bulkley,
New York; brig Gulnare, Philips, Havana; M.
L. schr. D. H. Baldwin, Parker, Baltimore.
SAVANNAH, Oct. B.—Arr., steamship Alabama,
Ludlow, New York; barque Thomas Prirtce, Car
ney, do.
DAVID 8. JOHNSTON,
ATTORNEY AT I; AW,
Augusta, Georgia.
O* Office on Jackson street, near Broad street.
References. —Messrs. T. N.PoullainA Son, Miller
At Warren, Adams & Fargo, Col. Turner Clanton,
\ngusta, Go. Hon. R. M. Peuison, Judge of the
Supreme Court of North Carolina, Hon. David S.
Reid, Governer of North Carolina, Hon. Win, 11.
Hay woed, jr., Hon. R. M. Sanders, Raleigh, North
Carolina. Messrs. Malcolm A Gaul, New York,
Messrs. Campbell, Martin & Co., Philadelphia,
Jchn Kerr. Esq., Dr. N. M. Roan, Yanceyville,
North Carolina, Lcncelot Johnstun, Dr. Win. John
ston, Madison, Ga., and L. L l evy, New Orleans.
09-ly
Richmond county, gko.—Whereas,
Robert Morris applies for letters of administra
tion on the estate of Elizabeth Cannon, late of said
county, deceased—
These are therefore to cite and admonish, all and
singular, the kindred and creditors of said deceased,
to be and appear at my office within the time pre
scribed by law, toshow cause, if any they have, why
said letters should not be granted.
Given under my band at office in Augusta.
LEON P. DUGAS, Clerk.
October 9, 1851. 4
("1 OLUiHDIA COUNTY, GEO.—Whereas,
> Hu uphrey Evans applies to me for letters of ad- »
ministration on the estate of John J. P. Evans, lute
of said county, deceased—
These are therefore to cite and admonish, all and
singular, the kindred and creditors of said deceased,
to be and appear at my office, within the time pre
scribed by law, toshow cause, if any they have,
why said lotters should not be grunted.
Given under my hand at office in Appling.
S. CHAWPOKD, Clerk.
October 9, 1851.
PIANO FORTES. MUSIC, <Skc7 *>
CHARLES CAT LIN <fc CO.,
IV IS Alt THE UNITED STATES
jHpjefSHS HOTEL, Augusta, Ga., are the or.Jy
i* Jr ¥ authorized Agents for Chickeriug’a
celebrated
IRON FRAMED PIANO FORTES.
' Also, for those made by Nunn’sife. Clark.and Adam
Stodard.
The superiority and wide-spread celebrity of these
Instruments render any special reference to them
unnecessary. The universal satisfaction that they
bavagiven in this market, for inure than 15 years, is
good evidence of their durability.
Their stock is always large and full, comprising
every variety and style of 6, 61, 6| and 7 octave
PIANOS, which they will aellatihe lowest fac
tory prices, (varying from s'4oo to $500,) and war
rant them sound aud perfect ir.«V«ry respect,
Their stock of MUSIC is large, and they receive
fresh supplies every week of all now publication* as
soon as they are is«wed.
All orders 'or Pianos, Music, Violins, Guitars,
Flutes, Accord eons, dtc., Ac., will receive prompt
and careful attention, and wiltbe warranted to please
n every reaped. m
MELODEONS.
They also have a complete assortment of Prince A
Co.’s MELODEONS. The Key Board is precisely
hesame as the Piano or Organ ; and the tone closely
resembles that of the Pluto-stopol the Organ, ami is
sufficiently load for small Churches. They vary in
prieefrom SSO to SIOO.
JEWELRY.
Clltßl.fi>' Cit I LIN keeps for sale at the same
0 *t* • Crgs Slock of fine WATCHES, JEWEL
RY aa.l SILVER-WARE, to which he invites ths
at. ion o( the public. mh2B
NO EXCUSE FOR BAD BREAD I
PRESTON & MKRUIR'S INPALLIHLE
YEAST POWDER, a new art cle for making
Ltgbt and Sweet Bread. It is a great convenience,
tbit it is always ready and sure lo act—the dough
requires no standing, but is ready to bake as soon as
mixed, and the most ignorant can hardly mistake in
its use. Should an excess be put in, it will not turn
the breuJ yellow, with an ashy or soapy taste, ss
saleratus and soda will; thus saving much waste.
it is suitable for almost all kinds of Sweet Cakes
Gingerbread, Dumplings, and Griddle Cakes
O" Dough mixed with common Yeast, and failing
to rise, may be made light, and saved, by thoroughly
Kneading in thy proper quantity of this Yeast.
For sale by slO D. B. PLUMB A CO.
I BRICK, BRICK..
TUB subscriber, at the Brick Yard, formerly
owned by, Mr. Sibley, in the upper end of
Hamburg, has now on hand between Two and Thrae
Hundred Thousand good BRICKS, made of the
bost material, and will compare with any in the
market, and he will keep a good supply on hand for
sale. leg CHARLES HAMMOND.
Choice Sugars.
g"h HIIOS. strictly choice Sugars, for eale
£IF low by a3O BAKER & WILCOX,