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EDITED RY THOMAS HAYNES.
VOL. V. NO. 37.
of <£
BY P. 1.. ItOBINSON, State Printer,
And Publisher (by authority) of the. Lau s of the United Stales
OFFICE NEAR THE CORNER OF WAFNE AND FRANKLIN STREETS.
ISSUED EVERt TUESDAY MORNING.
CZF TERMS.—Three Dollar* per annum. No subscription taken for less than a
year, and no paper discontinued, but at the option oi tho publisher, until all arrear
ages are paid.
CHANGE OF DIRECTION.—Wo dasirc such of our subscribers ns may nt any*
lima wish the direction <>*' :‘.rir papers changed from one Post Oflico to another, to
inform us, in nil cases, of the place to which they had been previously sent; as the
mere onkr to forward them to a dillerant oflico, places it almost out of our power to
complv, because we have no moans of ascertaining tho office from which they are I
order*'*! to be changed, but by a search through our tv holo subscription book, con- I
taining several thousand names.
ADVERTISEMENTS inserted at tho usual rates. Sales of LAND, by Ad mi t
nistrators. Executors, or Guardians, are required by law to be hold on the first Tues- I
day in the month, between the hours of ten in the forenoon and throe in the after- |
noon, at the Court House in the county in which the property is situate. Notice of
these sales must be given in a public gaartte SIXTY DAY S previous to the clay ol
sale.
Sales of NEGROES mast be at public auction, on the first Tuesday of the month
between the usual hours of sale, at the place of public sales in the county where the
letters testimentnry,of Administration or Guardianship, may have been granted, first
giving SIXTY DAYS notice thereof, in one of tho public gazettes of this State,
and nt the door of the Court House where such sales arc to be held.
Notice for the sale of Personal Property must be given in like manner, FORTY ,
DAVS previous to the day of. s»lc.
Notice to the Debtors and Creditors of an Estate must ba published FORTY ,
DAYS.
Notice that application will be made to the Court of Ordinary for leave to sell
LAND, must Im published for FOUR MONTHS.
Notice for leave to sell NEGROES, must bo published for FOUR MONTHS
before any order absolute shall be made by the Court thereon.
Notice of Application for Letters of Administration must be published THIRTY
DAYS.
Notic eof Application for Letters of Dismission from the Administration of an Es
ate, are required to be published monthly lor SIX MON 1 HS.
XTThx STANDARD OF UNION, which came into life during tho stormy pe
riod of 1833,has entered the sixth year of its existence, with frosh vigor and renew
ed energies, in support es the greatennse of tho CONSTITUTION and the UNION.
For the patronage which it has received, and the estimate which has been so gene
rously placed upon our feeble efforts to maintain the stability and perpetuity of our
blessed institutions, we have no adequate language to express our gratitude; and in
return fm these unerring evidences of the public approbation, we are armed with ad
ditional strength to «ro forward.
The principles which the Standard has heretofore advscateJ, it will continue to !
maintain, with increased energy.
It shall be, as it has boon, the STANDARD OF UNION. It shall support and de- !
fend the I NION of ALL the STATES, as the only means of preserving “ the sovc- '
reignty of EACH,” and to inculcate the great and wholesome truths, upon which
our fathers so gallantly achieved the principles of liberty and independence.
We shall oppose with vigilance, any abuse or usurpation of power by the Federal i
Government, by all constitutional indans, and as zealously oppose all rash and reek- j
less movements by States, calculated to jeopardize the harmony of our beloved |
Union, “ until the accumulation of oppression, shall outweigh the evils of separation.” j
Wc cling with unwavering confidence to tho great fundamental principle, that man
is capable of self-government; and will in nowise be instrumental in arresting the :
experiment now in progress, by which alone this great problem can be solved. We ;
desire to see the principle? of the American revolution acted out, that the world may j
knewv, whether mankind are worthy the blessings of liberty and independence, or ■
whether, from thsir own wickedness and folly, they are the natural subjects of annr- i
chy and despotism. For ourselves, we have too much confidence 1n the wisdom ami
firmness of our institutions—in ths intelligence and patriotism of the people—to
question for a single moment, tho final and glorious triumph of REPUBLICAN
GOVERNMENT, over all others.
The fierce doctrines of Nullification, which wcencountered at the commencement
-of our career, after a fiery contest of four or five years, have sunk at last, under the
paramount influence of public opinion; and are now only remembered as a thinsr that
was. But others have grown up of no less fatal tendency. The struggle of the
United States Bank for unlimited pow er, should awaken the democracy of the Union '
to one united and vigorous effort to resist the influence of a monopolizing spirit, ;
which is seeking to subject the Government and the people !o its dictatorial and des- I
-potic sway. In this contest, the Standard of Union will be found, us it has heretofore
been, on the side of the people.
Bnt there is still another projector! foot, which every man who loves his country
must contemplate w ith mingled emotions of horror and indignation. The attempt of
the northern fanatics to interfere with our domestic institutions.unopen violation of
the constitution, deserves the execration of every patriot, and shull not fail to receive
•our uuceasing, uncompromising, and most efficient opposition.
Upon the subject of the currency, we entertain but one opinion—that no Govern- j
ment should sanction the existence of any cir< n’ating medium, which is not equiva
ent to gold and silver; and that the States oh n *, possessing the power of incorpo
rating and regulating Banks, should lose no time in reforming the system a? it now
exists and of placing all Banking institutions upon such a foundation as will insure
the fulfilment of their obligations, in good faith to the public.
As gold and silver form rhe only currency known to the Constitution, it is oar I
• deliberate opinion, that nothing else should*be received by the Government, in the i
collection of its dues; and as it regards the separation of the Government from ill
Banks, the measure proposed by President Van Buren, generally known as the Sub-
Treasury System, meets our most cordial and decided approbation.
We approve the measures of tho present administration, a? we did those of its '
illustrious predecessor, believing them to be founded upon the pure principles of
democracy, and shall give them our best support.
Thus have we briefly adverted to the course of the Standard in times past, and the
path it will pursue in future, cheered on as it is, by the confidence and support of
the Uipon Party. With a circulation equalled by very few Journals in the Southern
States, we shall double our diligence to make it every way worthy of the support
which it has received from an enlightened community.
Intending as we do, to make it a source of increased information upon general
subject*, and to render it an instrument of additional usefulness »o the cause which
it advocates, and the principles it maintains, wo confidently appeal to the UNION
P.-WITY’, for an increase of its circulation.
Nor need it be supposed from the foregoing, that our columns will be lacking in in
terest to the general reader. Containing as they do, more space than is embraced in
those of any other journal in this or our neighboring States, and printed in a neat
and compact form, we shall have ample room to give place to the choicest gems that
apjiearin the numerous and valuable periodicals of our country, and keep the search
er after news advised of the many and remarkable events that transpire in oui ex
tended territory; and we do hope, that occasionally, at least, we shall have the plea
sure of laying before our readers, productions from the pens of some of the gifted i
tons of our own Georgia.
In the approaching campaign, wc shall be found at our posts, manfully sustaining
'the nominations of our Party, nothing doubting that we shall gain a signal triumph,
on the first Monday in October next.
MILLEDGEVILLE COURSE, GEORGLL
.Oh
make a race; to clone the first of October, and name at the stand.
Iverson &, Bonner, - - - - - - - }
Level & Hammond. - j
2d day—Mile heats, for a fine Silver Pitcher and Cup, worth 8200,
for colts and fillies, 2 or 3 years old, $25 dollars entrance —3 or more to
snake a race.
3id day—Two mile heat, free for all, Purse, $ 300.
4th day—Three “ “ “ “ Purse. 500.
sth day—Pour “ “ “ “ Purse, 1000
Olli day—One mile heats, best 3in 5. Purse, 400.
H. F. YOUNG, & CO. Proprietors.
Milledgeville July 31st, 1838. 28—wilt.
*WF EW GOOD'.—The subscribe, has the pietisme to inform his friends
JL W and customers, that in addition to his former stork, he is now re
ceiving a new and general assortment of Fail and Winter, Fancy and
Staple Goods, which has been carefully selected by himself in the
Charleston. New York, and Boston markets, from the latest arrivals
from Europe, which he will dispose of at the lowest prices, to responsi
ble customers, at the usual credit. Thankful sot the past patronage of
his friends and the public, he hopes to merit a continuation of the same
and respectfully invites them to call and examine his stock, which will
Its coiistantlo replenished by frequent and regular rernitaiiccs from his
friends in New-York and Charleston.
He also has on hand, a large lot of the best Cotton Bagging—Negro
Shoes—Blankets—Wool Hats, &c. &x'. &c.
JAMES T. LANE.
September 11. 34—8 t
WAREIIOI SE AND COMMISSION BUSINESS.—Tbo un
dersigned having taken the Warehouse formerly occupied by Mr.
Benj. Baird on Green-street, offers himself for the transaction of the
WAREHOUSE AM) COMMISSION BUSINESS, and respectfully
«om its a share of public patronage. Arrangement's have been made to
a <>r< liberal advances <ci Cotton and goods in store. Insurance has
~<;® "G>;oed to cover all produce in store. HENRY RIVES.
~ ' Standard of Union apd Recorder, will publish the above for
K three m Augusta, Aug. Iff, IH3-.. 33-3 m.
ail. W. FORCE k CO? ~
WHOLESALE SHOE HEALERS,
. innn Auffunla,
. , • yOO—Otto Thousand Packages Beets and Shoes, comprising
r.Vwo “ rI1 '; lc 111I 11 .* I<! b'«which can be sold ns low as in the Northern cities—nil nr
fiekther. l ’ W ‘” m "" ,,f “ c " ,res direct. A full assortment of all kinds of
Augusts,March 20, jx \v. FORCE A CO.
THE Almira] Jockey Clrrb
Fall meeting will commence I
on Monday, the I2th of No- i
vember next, and continue i
six days. 'I be following pur- .
ses w ill be given.
Ist. day.— \ Post Stake >
four mile heats, entrance five j
hundred dollars, tw o hundred
turd fifty forfeit—-3 or more to
HJI
LEGISLATURE OF NEW-YORK.
An act to authorize the business of Banking.
Passed April 18, 'B3B.
The people of the State of New-York, represented in Senate and
Assembly, do enact as follows :
§ 1. The comptroller is hereby authorized and required to cause
to be engraved and printed in the best manner, to guard against
counterfeiting, such quantity of circulating notes, in the similitude
of Bank notes in blank, of the diffeient denominations authorized to
be issued by the incorporated banks of this State, as he may from
time to time deem necessary to carry into effect the provisions ol
this act, and of such form as he may prescribe. Such bl'ttik circu
lating notes shall be countersigned, numbered and registered in pro
per books to be provided and kept for that purpose in the office of
’ said Comptroller, under his direction, by such person or persons
: as the said Comptroller shall appoint for that purpose, so that each
1 denomination of such circulating notes shall all be of the same simi
litude and bear the uniform signature of such register, or one of such
I registers.
§ 2. Whenever any person or association of persons formed for the
I purpose of banking under the provisions of this act, sbalj legally
transfer to the comptroller any portion of the public debt now creat
ed or hereafter to be created by the United States or by this State,
or such other States of the United States as shajl be approved by i
the comptioiler an equal amount of such circulating notes, of diffe:- |
•-nt denominations, registered and countersigned as aforesaid ; but
such public debt shall in all cases be, or be made to be, equal to a
stock of this State producing five per cent, per annum and it shall
i not be lawful for the comptroller to take any stock ala rale above its
| par value.
§ 3. Such person or association of persons are hereby authorized,
i after having executed and signed such circulating notes in the man
ner required by law, to make them obligatory promissoty notes pay
able on demand, at the place of business within this State, of such
cerson or association, to loan and circulate the same as money, ac
pording to the ordinary course of banking business as regulated by
the lawsand usages of this State.
§ 4. In case the maker or makers of any such circulating notes,
countersigned and registered as aforesaid, shall at any time hereafter,
on lawful demand during the usual hours of business, between the
hours of ten and three o’clock, at the place where such note is pay
able, fail or refuse to redeem such note in the lawful money of the
United States, the holder of such note making such demand may
cause the same to be protested for non-payment by a notary public,
under his seal of office in the usual manner ; and the comptroller on
receiving and filing in liisodice such protes’, shall forth with give notice
in writing to the maker or makers of such note to pay the same;
I and if he or they shall omit to do so for ten days after such notice,
’ the comptroller shall immediately thereupon, (unless he shall be sat
i isfied that there is a good and legal defence against the payment of
I such note or notes,) give notice in the state paper that all the circu
! lating notes issued by such person or association will be redeemed
’ out of the trust funds in his hands for that purpose; and it shall be
; lawful for the comptroller to apply the said trust funds belonging to
I the maker or makers of such protested notes to the payment and re
demption of such notes, with costs of protests, and to adopt Such
; measures for the payment of all such circulating notes, put in circu
lation by the maker or makers of such protested notes, pur-.uant to
the provisions of this act, as will in his opinion most effectually
I prevent loss to the holders thereof.
§ 5. The comptroller may give to any person or association of
J persons so transferring stock in pursuance of the provisions of this
act, powers of attorney to receive interest or dividends thereon,
which such persons or association may receive and apply to their
own use ; but such powers may be revoked upon such person or as
sociation failing to redeem the circulating notes so issued, or when
ever, in the opinion of the comptroller, the principal of such stock
shall become an insufficient security ; and the said comptroller upon
the application of the owner or owners of such transferred stock in
trust, may, in bis discretion, change or transfer the same for other i
I stocks of the kind before specified in this act, or may re-transfer the
; said stock, or any part thereof, or the mortgages, or any of them
hereinafter mentioned and provided for, upon receiving and cancell
ing an equal amount of such circulating notes delivered by him to
such person or association, in such manner that the circulating notes
shall always be secured in full either by stocks and moitgages, as in
this act provided.
§ G. The bills or notes so to be countersigned, and the payment
of which shall be so secured by the transfer of public stocks, shall
I be stamped on their faces “ Secured by the pledge of public stocks.”
§ 7. Instead of transferring public stocks as aforesaid to secure the
the whole amount of such bills or notes, it shall be lawful for such
person or association of persons, in case they shall so elect before
receiving any of thesaid bills or notes, to secure the payment of one I
; half of the w hole amqunt so to be issued, by transferring to the comp- j
| troller bondsand mortgages upon real estate, bearing at least six per
j cent, interest of t> is slate, pavable annually ; in which case all such
; bills or notes issued by the said person or association of persons, shall
! be stamped on their face “ Secured by pledge of public stocks and
j real estate,”
§B. Such mortgages shall be only upon improved, productive, unin
cumbered lands within this State, worth independently of and build
ings thereon, at least double the amount for which thev shall be so
mortgaged ; and the comptroller shall prescribe such regulations for
ascertaining the title and the value of such lands as he mat deem
necessary; and such mortgages shall be payable within such time as
the comptroller may direct.
§ 9. The Comptroller may, in his discretion, re-assign the said
bonds and mortgages, or any of them, to the person or association
who transferred the same, on receiving other approved bonds and
mortgages of equal amount; and when any sum of the principal of
the bonds and moitgages transferred to the comptroller shall notify
the person or association that transfetred the bonds and mortgages of
such payment, and may pay the same to such perst n or association
on r< ceiving other approved bonds and m wtgages of equal amount.
§ 10. ’l’he person or association of persons assigning such bonds
and mortgages to the comptroller, may receive the annual interest
to accrue thereon, unless default shall be made in paving the bills or
notes to be countersigned as aforesaid, or unless in the opinion of the
comptroller the bonds and mortgages or stock so pledged shall be
come an insufficient security for the payment of such bills or notes.
§ 11. In case such person or association of persons shall fail ot
I refuse to pay such bills or notes on demand, in the manner specified
: in the fourth section of this act, the comptroller, after the ten days
! notice therein mentioned, may proceed to sell at . public auction the
; public stocks so pledged, or the bonds and mortgages so assigned, or
; any or eitherof them, and out of the proceeds of such sale shall pay ■
' and cancel the said bills or notes, default in paying which shall have !
been made as aforesaid ; but nothing in this act contained shall be
; considered as implying any pledge on the part of the State for the
payment of said bill or notes beyond the proper application of the
' securities pledged to the comptroller fortheir redemption.
‘ § 12. The public debt and bonds and mortgages to bo deposited
with the comptroller by any such person or association, shall be held
by him exclusive for the redemption of the bills or notes of such per
sons or association put in circulation as money, until the same are
paid.
§ 13. Tho plates, dies and materials to be procured by the comp
troller, for the printing and making of the circulating notes provided
for hereby, shall remain in his custody and under his direction ; and
the expenses necessarily incurred in executing the provisions of this
act, shall be audited and settled by the comptroller, and paid out of
any moneys in the treasury not otherwise appropriated ; and so. the
purpose of reimbursing the same, thesaid comptroller is hereby au
thorised and required to charge against and receive from such person
or association applying for such circulating notes, such rate per cent,
thereon as may be sufficient for that purpose, and as may be just and
reasonable.
§ 14. It shall not be lawful for the comptroller, or other officer, to
countersign bills or notes for any person or association of persons, to
tin amount in the aggregate exceeding the public debt, or public debt
and mortgages at their value, as provided in the second section of
this act, deposited with the compttoller by such person or associa
tion; and any comptroller or other officer who shall violate the pro
visions of this section shall, upon conviction, be adjudged guilty of a
misdemeanor, and shall lie punished by a fine not less than five thou
tsand dollars, or be imprisoned not less than five years, or by both
i such fine and imprisonment.
j § 15. Any number of persons may associate to establish offices of
discount, deposite and circulation, upon the terms and conditions,
and subject to the liabilities prescribed in this act ; bnt the aggregate
amount of the capital stock of any such association shall not be less
than one hundred thousand dollars.
§ 16. Such persons, tinder their hands and seals, shall make a cer
tificate, which shall specify :
1. The name assumed to distinguish such association, and to be
used in its dealings :
2. The place where the operations of discount and deposite of
such association are to be carried on, designating the ptuiculai city,
town or village:
3. The amount of the capital stock of such association, and the
number of shares into which the same shall be divided :
4. The names and places of residence of the shareholders, and
the number of shares held by each of them respectively :
f 5. The period at which such association shall commence and ter
minate ; which certificates shall be proved or acknowledged gpd re-
MILLEDGEVILLE, GEOBGIA, TUESDAY MOUSING, OETOMBEK IS3S.
Ottr CoHseieitce— Our Country—~ Our Party.
corded in the office ol the clerk of the county where any office of
such association shall be established, and a copy thereof tiled in the
office of the Secretary of State.
§ 17. The certificate required by the last preceding section to be
recorded and filed in the offices of the clerk of the county anti Secre
tary of State as aforesaid, or copies thereof, duly certified by either
of those officers, may be used as evidence in all courts and places for
and against any such association.
§ 18. Such association shall have power to carry on the business
of banking, by discounting bills, notes, and other evidences of debt ;
by receiving deposites ; by buying and selling gold and silver bul
lion, foreign coins and bills of exchange in the manner specified in
their articles of association for the purposes authorized by this act;
by loaning money on real and personal security ; and by exercising
such incidental powers as shall be necessary to carry on such busi
ness ; to choose one of their number as president of such association,
and to appoint a cashier, and such other officers and agents as their
business may require, and to remove such president, cashier, officers
and agents at pleasure, and appoint others in their place.
§ 19. The shares of said association shall be deemed personal pro
perty, and shall be transferable on the books of the association in
such manner as may be agreed on in the articles of the association ;
and every person becoming a shareholder by such transfer, shall, in
proportion to his shares, succeed to all the rights and liabilities of
prior shareholders; and no change shall be made in the articles of
association by which the rights, remedies or security of its existing
creditors shall be weakened or impaired. Such association shall not
be dissolved by the death or insanity of any of the shareholders
therein.
§ 20. It shall be lawful for any association of persons organized
under this act by their articles of association, to provide for an in
crease of their capital and of the number of the associates, from
time to time as they may think proper.
§ 21. Contracts made by any such association, and all notes and
bills by them issued and put in circulation as money, shall be signed
by the president or vice president and cashier thereof; and all suits,
actions and proceedings brought prosecuted by or on behalf of such
association, may be brought or prosecuted in the name of the presi
dent thereof; and no such suit, action >r proceeding shall abate by
reason of the death, resignation ortenoval from office of such pre
sident, but may be continued and prosecuted according to such rules
as the courts of law or equity may ditec*, in the name of his suc
cessor in office, who shall exercise the Bowers, enjoy the rights, and
discharge the duties of his predecessor.
§ 22. All persons having demands against any such association,
may maintain actions against the pres'dent thereof; which suits or
actions shall not abate by reason of tie death, resignation or re
moval from office of such president, bu may be continued and pro
secuted to judgment against bis successcr ; and all judgments and de
crees obtained or rendered against such for any debt or li
ability such association, shall be enforce! only against the joint pto
perty of the association, and which prop-rty shall be liable to be ta
ken and sold by execution under any sudi judgment or decree.
§ 23. No shareholdei of any such association shall be liable in his
individual capacity tor any contract, debt or engagement of such as
sociation, unless the articles of associatim by him signed shall have
d&clared that the shareholder shall be soliable.
§24. It shall be lawful for such assoda’ion to purchase, hold and
convey real estate for the following puqoses :
1. Such as shall be necessary for its inmediate accommodation in
the convenient transaction of its businesi; or
2. Such asshall be mortgaged to it in good faith, byway of se
em ity for loans made by, or moneys due. to sutli association ; or
3. Such as shall be conveyed to it in satisfaction of debts pre
viously contracted in the course of its dealings; or
4. Such as it shall purchase at sales under judgments, decrees or
mortgages held by such association.
The said association shall not purchase, hold or convey real estate
in any other case or for any other purpose ; and all conveyances of
such real estate shall be made to the president, or such other officer
as shall be indicated for that purpose in the articles of association ;
and which president or officer, and his successors, from time to time
may sell, assign and convey the same, free from any claim thereon,
against any of the shareholders, or any person claiming under them.
§ 2.5. Upon the application of creditors or shareholdeis of any
such association, whose debts or shares shall amount to one thousand
dollars, and stating facts, verified by affidavit, the chancellor may,
in his discretion, order a strict examination to be made by one of
the masters of his court, of all the affairs of such association, for the
purpose of assertaining the safety of its investments, and the pru
dence of its management; and the result of every such examination,
together with the opinion of the master and of the chanceller there
on, shall be published in such manner as the chancellor shall direct,
who shall make such order in respect to the expenses of such exami
nation and publication as he may deem proper.
§ 26. Such association shall, on the first Mondays of January and
July iti every year after having commenced the business of banking
as prescribed by this act, make out and transmit to the comptroller,
in the form to be provided bv him, a full statement of the affairs of
the association, verified by the oaths of the president or cashier,
which statement shall contain,
1. The amount of capital stock paid in according to the provisions
of this act or secured to be paid:
2. The value of the real estate of the association ; specifying
what portion is occupied by the association as necessary to the trans
action of its business:
3. The shares of stock held by such association, whether abso
lutely or as collateral security ; specifying eash kind and description
of stock, and the number anti value, of the shares of each :
4. The amount of debts due to the association ; specifying such
as are due from moneyed or other coiporations or associations ; and
also specifying the amount secured by bond and mortgage or judg
ment; and the amount which ought to be included in the computa
tion of losses:
5. The amount of debts due by such association; specifying
such as are payable on demand, and such as are due to moneyed or
other corporations or associations:
6. The amount of claims against the association not acknowledged
by it as debts:
7. The amount of notes, bills, or other evidences of debt issued
by such association :
8. The amount of the losses of tho association ; specifying wheth
er charged on its capital or profits, since its last preceding statement,
and of its dividends declared and made during the same period :
9. The average amount in each month daring the preceding six
months of the debts due to and from the association; the average
amount of specie possessed by the same during each month, and the
amount of bills and notes issued by such association and put in cir
culation as money, and outstanding against the association, on the
first day of each of the preceding six months.
10. 'l'lie average amount in each month during the preceding six
months due to the association, from all the shareholders in the asso
ciation, also the greatest amount due to the association in each of
the said preceding six months, from all the shareholders in such asso
ciation :
11. I he amount which the capital of the said association has
been increased during the preceding six months if there shall have
been any increase of the said capital ; and the names of any per
sons who may have become parties to the said articles of associa
tion, or may have withdrawn therefrom since their last report.
It shall be the duty of the comptroller to cause such a statement
required to be made by this section to be published in a newspaper
pi inted in the county where the place of business of such associa
tion is situated, and in the state paper; the expense of which shall
be paid by such association.
§27. If such association shall neglect to make out and transmit
the statement requited in the last preceding section, for one month
beyond the petiod when the same is required to be made, or shall vi
olate any ol the provisions of this act, such assoc iation n ay be pro
ceeded against and dissolved by the court of chancery, in the same
manner as any moneyed corporation may bo proceeded against and
dissolved.
§2B. If any portion of the original capital of any such associa
tion shall be withdrawn for any purpose whatever whilst any debts of
the association remain unsatisfied no dividends or profits on the
shares of the capital stock of the association shall thereafter be
made until the deficit of capital shall have been made good by the
subscription of the shareholders, or out of die subsequently accruing
profits of the association ! and if it shall appear that any such divi
dends have been made, it shall be the duty of the chancellor to make
the necessary orders and degrees for closing the affairs of tho asso
ciation and distributing its property and effects among its creditors
and shareholders.
§ 29. Such association shall be liable to pay the holder of every
bill or no’e put in circulation as money, the payment of which shall
have been demanded and refused, damages for non-payment thereof
in lieu of interest at and after the rate of fourteen percent., per an
num, from the time of such refusal until the payment of such evidence
of debt, and the damages thereon.
§ 30. The president and cashier of every association formed pur
suant to the provisions of this act, shall at all times keep a true and
correc t list of the names of the shareholders of such association and
shall file a copy of such list in the office of the clerk of the county
where any office of such association may be located and also in the
office of the comptroller on the first Mondays of January and July in
every year.
§3l. It shall not be lawful for any association f>r.ooJ under the
provisions of this act, to make any of its bilfc or notes of a denomina
ti<;n less than one thousand dollars, to be put in circulation as money
payable at any other place than at the office where the business oi
the association is carried on and conducted.
§ 32. The legislature may at any time alter or repeal this act.
§ 33. No association of persons authorized to carry on the busi
ness of banking under this act, shall at any time for the space of
twenty days, have on hand at their place of business, less than twelve
and a half per cent in specie on tho amount of the bills or notes in
circulation as money.
State of N. Y. ) This hill having been approved and signed by the
Sec'ys. Office. > Governor of this state on the 18th day of April,
law on that day. JOHN A. DIX, Sec’ry of State.
From the Neio-Ycrk Evening Post, September 15.
LATER FROM EUROPE.
By the packet ship Wellington, Capt. Chadwick, we have
received late papers from London. They bring down the ad
vices from London to the 13th of August, and those from Li
verpool to the 11th. We have also papers by the packet ship
United States, Capt. Holredge, which left Liverpool on the
9th of August.
GREAT BRITAIN.
A bill has been introduced into the House of Lords by Lord
Brougham, which appears to have given the British Ministry
some embarrassment. The bill purports to leglaize the acts,
as far as possible, of Lord Durham, and to indemnify all who
have been guilty of illegal acts by his orders. We copy the
following from a London paper:
Loivdon, August 11th.—Lord Durham appears to have got
into a scrape with the lawyers, and not only Lord Brougham,
but Lord Lyndhurst—and the Lords concur with them —con-
demn the punishment of the State prisoners to Bermuda with
out a trial, but say they cannot be kept there a moment.—
Lyndhurst said in the House of Lords, that the prisonershave
a legal remedy not only against Lord Durham, but Admiral
Paget, who brought them ; and the expatriation of Papineau,
Brown, and O’Callaghan, without trial, he condemns as mon
strous. He says, they can go back when they please, in defi
ance of the ordinance; a greater part of Peers also admitted
all this. Again it was admitted on all sides, even by the min
istry, that Lord Durham had no power to send the prisoners to
Bermuda, which was not in his jurisdiction.
This discussion created a good deal of sensation in London,
as it seemed to compel the Ministry to dismiss Lord Durham,
or in sustaining hitn, to be dismissed themselves. The pro
ceedings of the House, the day after the second reading of
Brougham’s Bill, were therefore looked to with great interest,
hut before the order of the day was agreed upon, Lord Mel
bourne rose, and said :
“ He thought it wotdd be most respectful to their lordships,
and convenient to the house, at once, to state the course he
meant to pursue in the committee on this bill. Their lordships
had determined, unquestionably, very contrary to his feelings
and wishes, to read the measures a second time ; and it was
impossible for him to express the very deep concern, the great
anxiety and solicitude, which their lordship’s determination in
that respect, had created in his mind. They could not con
ceal them themselves—at all events, it was his duty not to con
ceal from them—that great interests were at stake,- and that
consequences the most serious, might result from the course
which their lordships had taken upon this subject. * *
He could not help thinking, too, that the course adopted by
their lordships, might bt construed into taking a decided part,
and making .a declaration in favor of a particular party in
Canada—a party which had lately excited a rebellion against
the mother country, and which was undoubtedly bent on the
dismemberment of the empire. Their lordships might depend
upon it, such wotdd be the practical effect of their conduct,
and was the reason why he, last night, attempted to dissuade
them from giving a second reading to the bill.”
His lordship then entered on the objections which had been
taken to the deportation to the Bermudas, and to that of the
ordinances which related to the persons not in custody, but who
had fled from the colony, and concluded by saying, that as it
was difficult to disallow one part of the ordinances, which was
clearly unwarranted by lav.', without disallowing the whole,
therefore begged leave to say, that they had come to the deci
sion of advising her Majesty to disallow the ordinances.
Some discussion, of course, followed this unlooked for de
cision of the Cabinet, and the bill passed through committee.
London, August 11.—Lord Melbourne was yesterday eve
ning induced, reluctantly no doubt, to withdraw his opposition
to Lord Brougham’s bill, by which that learned manoeuvrer
lias succeeded in prevailing on the Home of Lords to pass a
vote of censure on Lord Durham. The bill was allowed to
go through committee without amendment, Lord Melbourne
having been persuaded to reserve his amendments till the re
port was brought up ; but when he attempted, in the more ad
vanced stage, to introduce a few alterations to soften the of
fensive character of the measure, he met with the most deter
mined opposition, and was told to bring forward his amend
ments in the shape of a separate bill. By this ingenious de
vice, the bill was carried through an additional stage the same
evening, for had any amendment, whatever, been introduced
in the committee, the report could not have been received at
the same silting.
Slave Trade.—On the 7th of August, Lord Brougham
made, in the House of Lords, the following notice, which was
agreed to without a dissenting voice:
“ That an humble address be submitted to her Majesty, duti
fully to submit to her Majesty that the slave trade, which the
Congress of Vienna most justly described as having degraded
Europe, desolated Africa, and afflicted humanity, nevertheless,
still continues with great intensity ; that, notwithstanding the
various treaties and conventions which have been entered into
L ,' her Majesty, and her Royal predecessors, with different pow
ers for tr.e suppression of this traffic, and notwithstanding all
the endeavors of successive administrations at home, and of
her Majesty’s ministers and agents in foreign countries, and of
her Majesty’s naval force employed in this service abiMad, the
trade has been aggravated in all its hnrrors ; and that it is the
opinion of this house, that a general concurrence of the great
powers professing Christianity, in a declaration that the slave
trade, bv whomsoever carried on, is piracy, and ought to be
punished as such, is, under the blessing of God, one of the
most probable means of effecting the abolition of that trade.
“ That this house is further of opinion that, in all treaties to
be contracted between her Majesty and her allies, the conces
sion of a mutual right of search of their commercial vessels
respectively, would be another of the means likely to attain
this most important object; and that this house most respect
fully implores her Majesty to represent these their opinions, ami
wishes and hopes, in such a manner as to her Majesty shall
seem most likely to be effectual to her Majesty’s several allies.
“ That this house cannot refrain from expressing to her Ma
jesty, the deep concern with which they have observed, from
the papers which her Majesty lias caused to be laid before them,
that Portugal has net yet fulfilled the engagements which she
has taken towards this country, by concluding with Great Bri
tain an adequate treaty for the suppression of the slave trade,”
The rainy weather which has prevailed previous to the last
advices, had led to apprehensions of a deficient harvest, and the
price of grain was rapidly rising. The newspapers are full of
discussions on the subject, accounts of the weather from diffe
rent parts of the country, and statements of the quantity of
foreign and domestic corn on hand. A Dublin paper of Au->
gust 10, says, that the grain crops had, until a short time pre
vious, promised well, but the recent unremitting rains had oc
casioned a well-grounded fear of a late and scanty harvest.—
*• At the Dublin Corn Exchange,” says the same print, < this
day wheat reached the very high price of 50s. per barrel of
20 stones. If the weather should not speedily change, the
price will soon become much higher. Fifty shillings per bar
rel is beyond the rate at which foreign corn is admitted at a
duty of Is.’ It is therefore expected, that the duty on foreign
wheat will shortly be reduced from 16s. 2d. the quarter, to the
low rate of one shilling.
London, Aug, 10.—We are now certain of a deficient har
vest, and as there is also reason to fear a failure of the crops
P. L. HOBINSON; PROPKIETOHk
in those countries from which we have been in the habit of sup- J
plying our deficiency of food, something veiy nearly approat h-«
ing to a famine may be reserved for us in the course of the en-M
suing winter. That, al all events, there will be a large
lation of foreign corn, does not admit of a doubt, and we 1
know, from past experience, that a large and sudden iinporta- a
tion of corn, invariably leads to a corresponding exportation |
of specie, and consequently to a curtailment of the currency ;
the Banks then withhold their discounts, bankruptcies follow, I
and the country is once more involved in all the horrors of a
commercial panic. 1
London, Aug. 13.—Business has been slack in the funds i
generally, but a slight improvement took place in prices.— |
Consols closed at 94 to | for money, and for account 94| to ’
Bank was 207| to 3J ; India stocks, 264 to 5; Exche
quer bills, 765. to 7Ss; India bonds, 78s. premium.
The French blockade has been made the subject of some
discussion in London. An application lias been made to the
British ministry by the merchants, to interpose and relieve the
commerce of Great Britain from the inconveniences of the
blockade, by mediating between the two parties, and bringing
them to an adjustment.
Gen. Hamilton, of Soirtli Carolina, has negotiated the South
Carolina Loan with a highly respectable mercantile house in
London.
FRANCE.
The opposition Journals in Paris, are inveighing against the
ministry,‘on account of the note of tile Duke of Montebello,
addressed to the Swiss Government, demanding the expulsion
of Louis Napoleon Bonaparte from the Swiss territory. Tiiis
person, they say, having been for twenty years an inhabitant
of the Canton of Thurgau, the French Government has no
right to call on the Swiss Government to drive him out. The
Swiss Diet took up the affair on the sth of August. It was
referred to the Canton of Thurgau. It is thought that the
Governor and Council of the Canton will call upon Louis Bo
naparte, to make his selection between France and Switzer
land, and to choose definitively to which of these countries he
will henceforward belong.
The French Journals begin to complain, that the blockade
of Mexico seems to promise to be vain and eternal. Another
vessel has been sent out. The Cuirasseur has just arrived at
Brest from the Coast of Mexico.
SPAIN.
Espartero’s reason for tendering his resignation, is said to
be this :—The Minister had forbidden him to attack Estella,
unless certain of success, and enjoined him merely to keep the
Carlist force in check, until General Oraa should have gained
a victory over Cabrera, and be so enabled to delatch 10,000
men from his army to reinforce that of Espartero. He replied
by sending in his resignation. The Queen and President of
the Council of Ministers wrote to him, soliciting him not to
throw up the command. His answer had not been received*
Letters from Bayonne of the sth inst. mention as positive;
that General Espartero would not attack Estella until acquaint
ed with the result of the operations of General Oraa in Lower
Arragon. Don Carlos had arrived at Segura, in Guipnscoa.
A sortie effected by the Christino garrison of Irun had been
unsuccessful ; the Carlists of Vera and Lesaca united and re
pulsed the Christinas, and drove them into the town. The
Guerilla Chief, El Mochuelo (the owl,) of the Queen's army,
made an incursion into the Ulzama on the 29th ult., and car
ried off to Pampeluna some of the principal inhabitants of the
valley.
Official accounts had reached Paris from Bayonne on Wed
nesday evening, announcing that on the 30th ult. Gen. Oraa
had effected a junction with the other <livisions of the army of
the centre, in the neighborhood of Moreilla. The place was
invested on that day, after a slight resistance from Cabrera,
who retired to Cuitones. Oraa’s heavy artillery left Alcaniz
on the 2d inst*, and on its arrival the operations of the siege
were to commence immediately*
The accounts from Saragasso, dated the 2d, state that Gen.
San Miguel was on the 27th ult. attacked at Oreajo by Cabre
ra. On the 23th. General Oran, who arrived to his support,
completely defeated the enemy, and pursued Cabrera as far as
Morelia, the investment of which place was immediately corn's
menced by the Queer’s troops.
LIVERPOOL COTTON MARKET, Aug. 10.
We have had a fair demand for cotton to-day ; the sales have
been 5000 bags. The business of the week amounts to 47,540
bags, of which 3000 have been taken by speculators, and 2760
for export. • w
Saturday, Aug. 11.—This was a dull day; the sales amount
ing only to 2000 bales. Prices unsteady.
Liverpool, Aug. 7.—The reports from the interior of the
appearance of the crops, more especially of Wheat, are still
very unfavorable, and have drawn the attention of the town
and country trade, and of speculations to Foreign Wheats in
bond, in which a further very extensive business has been done
at rapidly advancing prices, and to-day 9s. 4d. has been paid
for both white and red. There has also been a brisk demand
for free Wheats, which have risen in value to 12s. for the best
white English, and to Ils. f>r prime red Irish-.
LONDON CORN EXCHANGE MARKET, Aug. 10.
There have been several runs of Wheat by land samples fresh
up for this day’s market, for which we had a good demand, at
an advance of 2s. per quarter from Monday. Several country
orders were here for Red and inferior qualities of Bonded
Wheat, for which an advance of 2s. to 3s. per quarter was es
tablished : for Danzic the demand was limited, although the
sales have been at 2s. beyond Monday’s currency, but the trade
is barely so good as on Wednesday, for the latter description.
Barley, Beans, and Peas, are Is. higher. There is more life
in the Oat trade, at an improvement of 2s. per quarter.
WOOL.—There is considerable business doing in the En
glish Wool market at firm prices, and in some instances a fur
ther advance has been obtained. The sales of Colonial Wool
advertised for next week, are looked forward to with interest
by the dealers, as tending to maintain, if not to increase, the
present prices; consequently, holders are very firm. The
Foreign Market is steady, with full prices paying for all df'
scripttons.— Price's Price Current.
From the People's Press.
Mr. Editor: — Will you please to state what is Mr. Black’s mean
ing, when he speaks of the “ successful opposition" of his patty to
the ‘ Pet Bank’ scheme ? The opposition to that policy did not
defeat it in Congress : it went into full operation, and continued so,
till the Banks themselves ended the connexion by suspending specie
payments. Does Mr. Black mean, that he and his party induced the
Banks to adopt this measure, to defeat “ Gen. Jackson’s and Mr.
Van Buren’s scheme!” If so, the Banks have placed their reasons
for dishonoring their bills on a false footing, and the ‘ State Rights’
party has had vastly more influence than it will now suit its purpose
to acknowledge, unless it also make the Banks resume.
This is really so unexpected a developenient, that, although of so'
u recent occutrence,” I must “ demand proof by reference.” The
“ original authors” of that policy were obliged to abandon it nolens
nolens. Those they depended on to carry it into operation, were
obliged, in reference to their own safety, to dissolve the connexion;
and the country flas determined, I hope distinctly, no longer to sub
ject its credit to the fluctuations of trade, and the unsteady policy
of commercial agents, lest their exigencies, or, if you please, the
“ successful” control of some great party, should again involve it in
the disgrace of bankruptcy.
Again, Mr, Black says, (what is not the fact) that we have no
other safeguard for our domestic institutions, than Mr. Van Buren’s
promised veto. Have we any greater security for Mr. Black’s oppo
sition to a Bank of the U. S., than Mr. Black’s word? Shall we re
spect the one, and reject the other I Is not the pledged promiso of
the President of the U. S. as good as-the word oi Edward J. Blackl
Or does ho admit, that he may break bis promise to the people and
sustain a Bank, as he intimates the President may do in regard to the
subject matter of his promised veto I Mr Black seems to’ have some
secret misgivings as to tho strength of his good resolutions; otherwise
he would hardly be so auspicious and uncharitable in regard to
others. Will you, Mr. Editor, tell us what other guaranty the peo
ple can have than the solemn assurance of Candidates that they will
regard their words of honor in carrying out any policy, on which
their election happened to turn. Let Mr. Black look to his own
truth ; the country has the superadded obligation of an oath, on the
part of Mr. Van Buren, that Ire will maintain the Constitution of his
country. STRIVEN.
WIIOEE NO. 245.