Below is the OCR text representation for this newspapers page.

MACON, GA. Thursday, November 26,1857. The office of the State Pre* is ox Cottos Avenue is the ii"keo.' ti.y oc cupied by Mb. Jacksox’ Bxr:-i.'. Don't fail to read th various advertisi ■ nielits on the first, third, and fourth pages of to-day’s paper. BANK )F MIDDLE 010RGIA. This is one of the few Banks in the State that has stood firm during the crisis. At the out set, it- President avowed the intention /od M and true to the promi . it Im* weath ered the storm and continued t* pay specie. By thus honestly comply ing with it < ontrai t by resisting the teniptatue ■ of- . p nsion, and refusing to follow the cx.imp! of other Banks —it has given cvi'leii'-■ . .'!"':>?■■ tabli-he 1 mi a basis of silver and old. an. thereby > 0111 mended itself to th coiiti-e and patronage of the people. Notwithstanding our opp'-i turn to the Banking sy item in general, m < can not but admire the honorable <■ •ursetlo- Bank has pursued, an 1 therefore we rhe rfully give "honor to whom lion >r is due." BILL TO REMODEL THE CONGRESSIONAL DIS TRICTS. It will be seen by reference to our Milledgeville letter, that Mr. Lockett, of this county, lias idfroduced a Bill, proposing certain changv in the present division of the State ii to Con gressional Districts. It proposes to change thisthe (the Third dis trict) ns follows: To place Talbot County in the 2nd District, and Harris Comity in the Fourth—and in their stead to give us the counties of Twiggs and Pulaski. This would diminish the Denio ratio major ity in the 2nd District, Bid votes (Mr. Trippi's majority in Talbot,) and 257 votes (Mr. Crau ford's majority in Pulaski) —making a total of 390 votes to be subtracted from 1755 votes, which was Crawford’s majority over Flam. Tims leaving a Democratic asceii leii< y of 135<i votes in the 2nd District, which ought to be satisfactory to our friends in that region. It changes the complexion of the Ith Di tri (Mr. Gartrell's) only by the addition of IJ.irri . This county gave Mr. Trippe a majority of I!>7 votes—which subtracted from Gartrell's ma jority, will still leave him in the lead by 872 votes. The difference made in the 'I bird, « ill be as follows: Mr. Trippe's majority at the last election was 380, and taking this as the Know Nothing ma jority, the subtraction of the majorities in Talbot and Harris, 880 votes, would still leave flic Democrats 50 votes behind. Twigg*. huv. ever, would bring an accession of 127 vote*, and Pulaski 257, taking the la-t election as the basis of calculation —making in all 38+ vote*. - Thus leaving the Democrats a little over 300 votes ahead. This is no "dead thing." and such ti majority may be easily me. Still, there Is a possibility that this Bill of Mu. Lock ett, may spoil some very pretty calculation* which are being made as to Mr. Trippe's suc cessor in this District. We leave it to our readers to figure forthem selves, the changes made in the other I >i*trict-. Our calculation, even to the extent it ha* gone, has been hurried, but we think will be found nearly correct. Thi* is a measure which ought to have been passed several years ago. The Democrats ot this District andthe7thdes'ri it at the hands of their brother Democrats, who can easily re lieve them from the incubus of Know Nothing majorities without at all risking their supre macy in their own District*. To refuse, would be to indicate a selfishness mid disregard ol others, which would border very closely on actual meatme-i. Os course, the Know Nothings will 111:1k wry faces an I sharp spe. rhe*. Everybody knows, however, that they would resort to pr< eisely the same expedient, if they only had the power, mid experience proves that the op ponent* of the Democracy have always been very ready to use it. This change might have been effected long ago, and th- Know Nothin.- have nothing to complain of. We hav* given them two districts, when we might just as easi ly have left them none. Let them stand aside for awhile, and let the Democrat* in these two district- have a chance. BANK SUSPENSION. It is proposed t > legalize the Bank suspen peiisions up to Novcmb.r I*sß. The outstanding circulation of the Banks is $5,500,000, in round numbers. This is a debt past due, and by every principle oflaw and equi ty, interest ought to rim against the Banks from the date of their refusal to pay. The Legislature proposes to extend the time, one year, in favor of the Banks. At 7 percent., the interest on the debt which they owe to the Bill-holders would amount to $385,000. This is the nice little sum which the Legisla ture proposes to give to the Banks as a reward for breaking their promises to pa). If the in .terufet were calculated at the rates exacted by the BinA*, in the shape of discounts, exchange*, ■etc., the *Vm would be three times as great. Yet at dt-ga’’ rates, $385,000 is the amount of' pruHiitun »w. <Oll iSusuExsiox by the measure iww under di»-u.ssion. The Kichtuutul South, commenting on a .similar o|>ezallon, has well ol served that the Banks are uu.w-tiding a* their inode's tin louf rr» who are said to live upon the interest of their debts, auilttiiiSf• is no doubt that they Cleat the loafers at their own game. it is a Thing twin-art: of that a man who fails to pay his note at matinrity. is therefore to be excused from the paynaviit of interest—it is still more unreasonable Sliat Corjairations pro fessing to be soheitt *i»;iild be donated with $385,000, in llwsJnyie.uJ'interest remitted. It is a prerD operation—;.i d amounts to nothing more than lit ing thee interest of their debts. M'e are ritwfore of the opinion, that the Banks should be made X•> pay interest oil their Capital St.-.-k, dwillg-tkc period of their .-u --pensiqn. They MV Mill ■draving their custom cr-s In rfie shape of discount, ex< liange, etc., although they j>ay not a dollar of their <!■ Ft'. If time is jgivvu tiw-m, they should at least pay simple interest OB th <h-t, till they begin t discharge it. We agree therefore with n correajxMxlont that# tax of this sort ought to be le vied. If each individual luu-t forego tin collection of his «W< Jet the Bunk* pay infer est into the State Treasury. TUI' w ill bring them so Resumption, long 'efore November J 858. Main trunk. AN ADJUSTMENT EFFECTED. Me are glad to learn from Milledgeville that • 1 the m-gutiatioi's between Messrs. Scihvex and • Wiieeixr. Presidents of the Savannah and : Brunswick Railroads, were brought to a satis- . Victory conclusion on Tm - lay 1 ist. Ar. ar angement was elf ■ ted which will in- :r. the 11 instruction of the Main Trunk, and give to , Southern Georgia the lion-1 which she has so , long and urgently needed. This happy result > is said to be owing in a great measure to the 1 instrumentality of a Committee consisting of , Messrs. A. S. Atkixsox, of Camden. I. .1. , Hays, ofThomas, and T. It. Bloom, of Bibb. , To Col. Atxixso.'. /specially is great credit due f for hia efforts in its behalf; and for In- 1 r- ( lions, the people <f Lower G >rgia otv I- ma ■ debt of gratitude which we have no don 1 t they t will always stand ready to iliscliarge. 1 Our neighbor of the Telegraph will see that t his slur upon the "diplomacy "of the Compa- I nies was somewhat premature. It seem* , they imre concluded their negotiations with t *ome "apparent r.sult " -the astuteness of the Tileijrapli to the contrary notwithstanding. 1 CITI' TAXES MR. FINDLAY’S RESOLUTION. Some niisapprch. n-:-m seems to exist in the ■ community with regard to a Resolution intro- • lin ed into Council by Aiderman Findlay. The 1 itesolution calls for an amendment of the Char < r so as to give the Mayor and Council power o assess ami collect a special tax on all proper- ' y benefited by uperial public Improvements. 1 It is right and proper that those citizens whose property is most enhanced in value by the building of a sewer, bridge or anything of the kind, should contribute the most towards mak- 1 ing such improvement. For gener/d city cx |K’-nses. all citizens, n* a matter of course, should I e taxed pro rata according to each one’s means; but for rpridid improvements, by wbi< h ' rertain individuals are solely and directly bene fited, the parties who receive the benefit, ought rcrtainly to pay something c.r(ro. and not let the whole burthen fall upon the community at large. This proposition is so just mid reasona ble in itself, that it cannot fail to meet with the approbation of every unpr.-judiced. right-think ing citizen. Mr. Fixdi.ay is a man of sound sense mid publie spirit, and is net likely, by proposing indjiidieious and oppressive meas ures, to forfeit the public confidence which lie has obtained by his zealous and faithful dis charge of the duties of a thankless ofli'-v. It is bis object ta t'pi.il : zc rather than i.irrei'm tax ation, mid in adopting his Resolution we are -ure the Council will be sustained by a large majority of the tax payers in the city. THE MORMONS. Late accounts indicate the brewing of trou ble in I'tah Territory. The Mormons are greatly excited at the prospect of the I . 8. troops arriving among them. They denounce the General Government for interferring in their affairs; and their Elders and lenders call upon the jieople to arm themselves in order to re i.-t such interference to the last extrem ity. Brigham Young swears vengeance. Ib says “ there are thousands and millions in the I’nitcd States and in the world u hose hearts are like an aspen leaf because ot this little handful of people in I tab." lie tells his fol lowers to pity the out.-ide barbnriaiis, for, says he, "they knowYmt whom they arc fighting against: they know not their de tiny" mean ing thereby, we presume, that whoever troubles the chosen people is sure to run .‘gainst a snag and apt to catch "particular Jesse" for their pain*. And according to Ebler John Taylor, tliey (the Mormons) stand ready "to raze their houses, burn their crops, pull down what they have-passe 1 ten years in building up, make their beautiful valley a desert, and retreat to the mountains, ia ease the troops should force an entrance among them. - ’ It is full time for these people to be brought to their senses. It is a shame and disgrace that they have been sr.tiered this long to trample upon the laws of God and num. The present Admini-tration, it is to be hoped, will have the nerve to take the matter xigorously in hand. Let the modern Saints |-e taught due respect ‘ for "the powers that be." THE SENATORIAL ELECTION CT ALABAMA. M e are pleased to sec from our Montgomery exchange-that the Hon. C. ('. Clay, jr., Il.l* been re-elected to the Semite of the I nite 1 States. I n.'icqiiainted as we are with this gentleman, his re-election gives to 11 no ordi nary pleasure. His course for the last four 1 year* lias been one. of imdeviatiiig. consistent devotion to Southern Hights and Southern honor. Among the youngest, if not the young est Senator, he has borne himself worthily mid well his reputation lias suft'ered nothing from liis elevation to high office. I'nlike small men who are lost in the position, he has reflected honor and lustre on the station. As Southern men we are glad that our sister Stat.- has sent as her representative to the Federal Senate, a gentleman who lias mind to understand her rights, honesty to seek the promotion of her interests, and courage to defend her. And last but not least, we congratulate the ladies of the South, that they will have in the brilliant and fascinating wife of the distinguished Sena tor, a representative who will adorn the cir- - ele in which she is to move. J-f’" It will be seen by reference to another column that Mr. J. M. Boaiiiimas inis moved his ibiokstore to the corner of his new build ing (the " Washington Block”) on the sit.- of th? old Washington Hall. 2-t - Mi:"i:~. Bostic k & Keix are selling otf their complete a-sortment of Fancy and Staple Dry Goods at A7 u* York price*. Articles rich and rare—cheap mid costly—gay and gaudy genteel and fashionable—Merinos. Silks, de Laines, die., load their shelves mi l counters, and are disposed of. by wholesale or retail, at exceedingly low rates to correspond to the i "hard times." Read their advertisement, ami see w hat they promise. Then be sure to give them a call, and "bold them to their lon-gain;'' as they arc determined to sell out to make room for their new stock at the old stand ot Bostick & Johns, where they w ill remove by the first 1 f January. RE-ELECTION OF SENATOR TOOMBS. Tin-entire South bus reason to rejoice that tin Jlemocraey of Georgia have re-elected Robert r l'oombs to the Seriate. M ith int-ilec tm.l endowments of th-.- very highest order, and an energy of character commensurate with Li- : r.iit ability, he is:ichampion in whom the Scuti: re'poses especial confidence, and with whose -ervie-v* she i* unwilling to disiwn.se al tills ominous crisis. lg th 11*delighting to hon or their fuiththl representative*, the Democra cy of Georgia propose ft worthy example to their allies in A'irginia. That we will follow . . I- .....I - f-irh . .-'.d THE BANKS AND THE TREASURY. The 1-ill now Wore the Legislature, provid: ■ that Uitf Banks -hall give bond and *erurihi lor the ultimate redempK 'n of such of thyir Notes ns shall be paid into the State Trea»nry. iu the shape of taxv *. c • We shall m't -’ pto investigate the cause which have induced the Bank ('oii.milteC tc require secuiity for the payment of some Imlf million in Bank Note* which may liml llu-ir way into the Peoples' Treasury, while thci have not deemed it worth their while t protect the People themselves against the fail ire of the Bank- to redeetnanotitsfandingrar illation of more than fen times that amount, arther than to express the opinion that the 'ommittce will have need (f all their power? >f sophistry, when they undertake to shew why tliey have left the People of Georgia a prey t< ill the curses of a depreciated currency, w her the rotten condition of the Banks is so palpa ble that the Legislature require them to give eecurity before tlle'r Notes can Le received in to the State Treasury. M e have noqnarrel to make, however, wifi tit is provision of the Bill. Me consider it r measure, eminently prudent. If the Commit tee ciinnot protect the citizens in their every .lay trausai lions, it is si mething in their favoi thal they Dave endeavored toguard the Treas ury against the Banks, and we say with tin good natured Sancho, "let v.s thank God. noi look a giit-1.0r.-e in the mouth." It is a si:-:;if icant provision—one full of meaning, and r< very pleasant meaning at that. It amounts t< nothing more nor less than an announcement by this Committee, who have been examining tin entire Banking system of Georgia, that tin State cannot tr' .it tin /.'i.’/J.i -tli.it their prom i-n * to pay cannot pass current with t'.ieTrea ury—and that prudem .- demal ds an exaetic: of bond mol security from the Banks for tie fulfillment of their ob’ia’.-ition*. Those fugle men who are so indignant when a doubt is ex pressed as to the perfect solvency of these In stitutions, ought to "make a note" of this and those who think that the superstructure o the Banks can by no possibility’ topple to t 1 ground, ought to take it as a warning to "st.im from under." This Committee is evidently 01 the Bank side of the question, but this is th announi ement which they have, in effect, bee! compelled to make to the People. It -cerns t us, though, that the Comniitte have adopted a very round-a-nbont method when they I.light have secured the cud preipos cd by a plan much easier— much plainer—nine 1 safer, and w hich tin y might have found ready made- to their hands. M e allude to the exam ple -x t be fore them by till' Tinted States Gov eriiment. in the working of the Siib-Treasur system. The General Government, as is wcl known, ccllci-ts all its rev nil*? in hard mom —pays el! its debts in the same way —and win : t Ims no immediate use for it, docs not de; <*■ it for safe k- ■ q ing in any rii ketty Bank Cm ecru, but trusts to the st rung-box laid the 1: m esty of its ow n agent*. The consequence i? that it lias been ena! led to put the Banks;-. nlaters and Stock G.anl lent at defiance. It i independent of Bank Revulsions, and in tic disgraceful crisis, when the Ban!. - Lave In blowing up, nil i- er the country, one afti another, like a bunch of fire crackers —wlc-i with im'onsidcriiL’.e exceptions, nil of tic have broken their jwoth’---* to pay --'A h; :i t! Nation is thrcate'i.d with c.l l:n.!..iq'. —when the Bank of England i laird pr.*- —when the French Finances are threaten with convulsions —when these wind-li: * :> collapsing, and these ri'g lion.- -t: : ' ntt around u - in this period of disaster n; ilisiiiay, I.1: 1: Sam 1p? ns i.i •«!.» -: i.ml-he-. them lull—not of rags mid Jampbh-.cl -I it < hard inone’j — pay - nil his del ts, and : on takes up his Bond'ill ndvam e, i.nd -o farfi.e pinching and cm tailing, lends s na thing out ■■ his abundance to relieve tin People, and sen: forth a stream of gold at d t'drer from h vaults to revivify the trade of the country. That i* the example for us to follow —th: the sy stem for us to adopt. No rags—no Jimi] black—no lying promises to pay —no Ban Not- *. for the Batiks may break no bond mi security, for the ,-vuiity may fail ! But. tl specie- —the hard money—the gold ami sill < —the yellow boys—the dir t the blunt—tl rhino —the slug*—the shiner- that which h so many mime -, and w hich is *0 acceptable u: derail! That is the tree currency— the cu reney of the Constitution —the only ccrixni contemplated by the fathers of the country, it w it! not fly away in every gale of w'.ml.lil the miserable rags which have driven it out circulation. It will not inflate at.d blow 11 like the paper I alloons of the pre sent day, e ery explosion invohing thousands in ruin, is always at par —it never depreciates—it u< ther contrail' Lor expands—and standing i it. the Treasury ot Georgia, the credit < 1 t! Empire State of the South, can bid defiance 1 th • shocks and earthquake- which shake ar sw allow up the I’apel Bank.-, every halt doz year*. M'hat a danger, have we just escaped! M’hat a spectacle even now, ilo we pre-- nt! - Suppose that the State of Georgia had hie called upon, in this crisis, to discharge a heav debt—a debt due—a debt which she fully < ■ pected to timt, and had esteemed herself f’lli able to pay- Suppose the creditor to hai been a foreign creditor—one who wanted, in rags, but money—one w ho was not willing 1 wait tor "ultimate redemption" on the day '/udguuid, no matter how unexceptionable tl security. M hat a figure would the State - Georgia have presented—otleriug rags, only I have them refused—rich, and not able to p;i her debts—her In lets full of broken promi*. to pay, and her Honor, her Good Name, hi t'liEDrr. it the men ;■ I f a eiiiibiimtioii of Bal: Corporations! Mint Gvorgiun would in have blushed ! M hut Georgian who does n< blli*h even now , when the Ties 1; has to 1 protected against the l ad faith of ourown cit zens! w heiiZioad and /‘.curdy must be exac ed from these favored Institution*, be fore tin can be trusted tore dvein their public and si leimi promise* ! Il is idle to say that sr.i h state 1 f thin,- :i* we have supposed, can nevi come upon us- He who knows the history 1 theyear 1*37. knows better. At that time, t! I’ut-. d*n'■ ' 1 : >!.?-• t d's U-i! nted a- , 1 many millions among the States. The Go’ ernment felt itself to lie rich, mid it was riel Yet when the Bank fitih-d. what was the col sequence? Government funds which we: actually being disbm scd fr< m day to day. an which were only depi-iteii iu Bunks tor sal keeping ter a night, shared the general fat .•.- The Bank.* redeemed neither bills nor dij o-ii —Justus sow—and th cmisequvucv wa* th: the United States had nothing w here w ith t pay its daily expenses—notlimg w! crew ith t 1 -irrv on its public work*— nothing when wit to p. civil a day laborer. An Extra * of Congress had to be called, and the,dangerous expedient of nn issue of Treasury bills wasre- ■ sorted to, to save tho country from ocfuid ■ ' banlruptcy. That was the condition of the ’ United States, and Georgia is not above such contingencies. And this di.-grai luf spectacle, , wa* all owingtoffee fact th;:', the Government ’ dabbled in p'ljier money, ami trn*'. 1 its depos it* to the Banks. ■ The I'nited State-profited by tho I -sou.— ' It f--!l bac'. on the Constit !•■' - hard **>■,. 7 1 1 currency, i.ndwe all know how ha| py h#sl een tl.e re.slill. Let 11* do likewise. Let the Statu ‘ dispose of every dollar offer Bunk St'ik— ■ let h-.-r d'r.oree he.’svlf ii'om the a i-.lterouscoii ' nection. Let her collci t h r.• venues in gold • :•::■ 1 -■’••• r let’her make no d posits with the Bunk' -and let her pay her if '-t*, ;;.* she eol > lects them, in moary. There will then 1 be m> need of bond and security—-no need ol ‘ ' protecting her Treasury agamsi Corporation.' -‘ w hich she herself lias chart red. Ihe credit ' of Geore ia should re t up si no sm-li quick sand-. .-ad depend on no such miserable contin -1 g-.-m-i. .*. It should be imh-;. -mlviit of the 1 Bank —high and clear ie them. Il we ■ 1.-mill.t protect ourselves, let n at beast protect • the cl edit of the State, mid if the J.« gislature r must I i,.- the pc q lea pr to the Banks, f t ' them a'i-,i-t secure tiie Trcauiry ugaimt the l ' irrupt'.»i.s of tin - Goth* and \ al.dels. ’’ Much more might b said in iavor of the pa 1. If the State v er.- t 1 eollei t it.- revenues 1 in hard money, and pay out the same to it? I 10-1 1 >.criior-, it - Secretaries, itsTreastu’ers, itsmem- I bersof A*semb!y. it* Judges, its Tax Collectors, its creditors at large, we should thus have euli- " st, :itly ill circulation a i.ias* of gold and s.'vcr. which in times like these would be o! per ceptible benefit. Towns and Coimtiv would soon follow tl.e example, and to the < v < f their revenues,the rag' which we call money, v> o;d 1 be dlspla: v d by the pre -ions metals. — ' Should this be done, and should the Legislu ' . ture prohibit b'lii under Ticeutus. and force ' the Banks to keep 0:1 hand In specie, one-third ■ --1 i/t of their ch /dotion, as the Committee recommend—but of all their liabilities, wheth er by note, bill, deposit or otherwise—we ! ! should nt least have sufficient specie mixed e with our currency, to keep it fiom ilyiiigawny !! , like :> fva’.lii r in ;. hi ;!■ wiud. The siqmrstrnc ture might be of paper, but w e should at least J Lave something ,'vli-l at the ba'e. TEE TANKS T"E LEGISIAITRE AND THE , CURRENCY. <hir friends the Hor.stcn ceui.ty ] ...i ter-, seem concerned, and properly so. as t » the j- * effect of the 1 resent state of things oil then i-otton. Tl.e. are‘atisfiwl their |>atieii’i* quite l'l sick, but cannot make a proper J/i./.iuto.:* cl hisdisense. I suggest the disease to be tin n present system of Banking, and as time is only permitted me to glance at this most inter.-ting subject, let our lion-ton county friends adop: the plan of Bright, Cobden am! other Reform ■ ci-s in Englim !. that is, print mid circnl.-iti Tract*. A* a beginning, 'anti-men o; iloii-- timc ia.ti, oiler a pre-m'um of five htindr. 1 or . i ven a t!.'ni*::iid dollars for the best es wy «]><>! the operations and effects of the Banking sy s tcni ■ u tho industrial ptu»ml* < f the e umtry suid especially cu e. f...n. S- ivi-t mid ; 1:-! the b; -r </{ Tin- >• V'-ii-I then lie > • II 'r . . v, i;| ’he ;n!. • 1 !. ‘ • t ri nee. an.l •1' tran:...• t i- • . ; I'.' V ... , L 1. -■■■ '■ - • .'< ■ I’, .\iiig >;■ . v. * in.’ ■ ■!-I I ■ ( j- p;;p r :i!id I’r.iik ere .i' -d tip<»:i <-b their v'tctim. 1 ’a ' •• < ;| . its Li t'»ry. f/ein 17U0 t•i - . p. i:\- 1-r u t ( . f . tun ruled iii./i. t‘ -• a\« :-;t_ ■ j-. i fr t: ;it tic. ; LciiiiZ <Hic-hnlf pouter tlinn tic avt !■;•?<* p” ' • any twenty yu'”- <ln t‘• ;-t tv.mtj , £ cotton ihietuati.il but lit: L. Ishiuur Habß ing system took its ri hih! > ; ucc then I’d , price of cotton has been :■ ?th t’.’iut'iating ■ and fiverage price lowci n . listmc, wbei the Ikhigoof Blood in ; ’ subsided afti it* hv-l great effusion at Ua: ih o, and th' port* and commerce of Enrop • \. !•* opened t< i. :r i” n, prices idiov. 'la . :->Jic inerca-' fur a time. Again, in prb * bounded u; tv a high tipiiie. by the power . l a mad .s|>ceu latii ii. stimulated by the ’’auks but suddens fell, < i - tdpl Ithousands on this I le tho At lantic iu ri!i:’.. I'm t’.c truth of History i ( ci th n v,;i' high and prices> ;.<lb:'-; before w had Banks, anti Las ruled low<rand price ’ thictmitcd Ifair. body i'oiiht*. l* t Im; • ask th< f< « v<t< ran < ttvn plant rsstill living • who 1 k I and rri in th golden dis )H ptnsilion previous to l v :o. B ; aylody doubt K . kt >nc!i sceptic refer to ?4 t’l./cngh’s Com . n menial dictionary, ti e hip).—t authority i; matt, rs <4 Trade mid C mmvree. In that Pic tionary he w ill find a tabk of tl prices of c ' ;! ton in England r.nd the I. mted b:alcsfroin 17> to 1 predicate.l upon a Keport made to th _ (’oiipro of the I’nitul br. ’ -by the b+enta »n ry of the Treasury. ThP t;J le of prices ii \ McCullough, demonstrate-my proposition, tha x- after IKIO cotton Ims been tailing, falling, fall iv ing. up to 1835, in its average price. Sine Ft* 1835, up to the present rime, we ::11 know th ( ,t averape price has bc<n gradually lowering, ata t,> subject all the time to the must sudden, enpri <,f cions and i m <ns tlm-tuations. Perhaps som lV one may sup'gest the production has gone ala i? of of the < umpti’ . But just the re verse i to ti ne—the consumption has shot ahead ot th IV production. So mnch so that al! England i . alarmed; the 1 tereot m pii ai L . r earnestly crvi.g <> : fur more cottun. ami Lack jP vd b; the Engii-h < ibinet. are >v«.ki:.p l‘i m ot iilate its growth i: ■ itl rent parts of the (il(d v i,t They may fi rm : * .mion* ami spend monc ) C like water, and yet <.ur own glorious Sunt! i- bles-ud b\ Heaven .ulli the soil ami ulimat t- suitable to grow the * .owy staple, will bid de ■ v fiance to all competition. |t _ I’nder the pre-vm *y-tem, two great inter a vsts arc in the field. < ■ atrul’iug and dvpresdn ! r the price us cutton. One is American ami tl; of other European —on- die American specula ic tors and the ot’u'r : • • Europt an • i u!at< r t »f j ami spinners. Hole n these formidable putt v _ ers the cotton plan; arc shorn of their pr+ h. cionsilceee w ith ti. • vknessuf land * { . Man, n- of them actually Lh—the keenly whetted shear r e wl.i.di j< > tli-bi > f . -ilkcti tc\d”.re<! ( id The American spo tors arc mainly compose' fe of P.-mk directors, ekhuldrrs. or men wh arc the |»etted fi.\of Bank-*. Tin rer Is in the fall of • ; •is ever. eo‘toti is t 'Lm' it and hiite’. fuiL Tl.Jr emissaries ami tmaion to join the chorus, ami cry aloud, cotton must lai! io A b ore powc-iiul instrumentality i’ in flns !i h.-nd’»—fhftt fa one which grind* out BankLill-* I L‘ : ’ ■ • ' ' ’ ■ !. these lordly operators stop discounts and retire from the market. They control the Bank-, t< ami the price of cotton is dependant on Bank h accommodation', rml so when they shut down v upon the staple, down it tumbles ton point to n where they can buy to suit themselves. On t the other side ot the Athm’je. the .*pinner> and ii speculators, like old grey >piders, quietly and 1 bizif. wait ami v ;;tch for their prey, ihey s v.nd< i 'tand two things wry well—first, that i thev have got the money power, and, secondly. \ that the sy&tcm of moving the crops by Bank < credits must, bring cutton under that power > sooner or later. .\nd su it dots, and >o it will I lu the end us the chapter. John Bull controls a at la-t. and Manchester ami Liverpool give lav. > , 1 t > the cotton trade. Englishmen become mil lionaires from cotton profits, ami usually Amtr- > i(an speculators, aitcr robbing the planters oi > fair prices, become bankrupts. t 'i wo grand and grievous wrongs are infiicted t 1 upon cutton planters under this system. First, ; t it establishes the price of cotton at the will ami 1 pleasure us those w hose interest it is always to < make money by depressing it. The consumer i really controls the price, and the pnalucer ha* t to take just what tLe consumer will give.— « England i> thegreat purchaser of cotton, though < ot hit - year* France, Belgium and <.ther parts c of Europe have considerably increased its man- , uJacturc. So it may be said England rules cotton and the cotton trade. She rules it i y her immense < apital—but she rules it most vs- i pvcially because the bulk of the cotton crop i> t carried to her marts by bills of exchange, which . ■ have to be met. and she knows full well the i - cotton mu<t be sold to meet these Lilis. She j ; has everything then her own way. Instead of i having to .* n.d her ships laden with treasure to buy our cotton, she compels our cotton to go i toiler, and then fixes the pries she will give. And all this is brought about by Banks and 1 Bank operations. Such a thing never was be i fore known in all Lbtory. Rome, in the full | Lhize of her imperial splendor, had to send to Fgypt ami Sicily for grain : and England—this same England who buys our cotton at her own prices, is this day sending her ships into all I i parts us the world, for the other vast produc i tiuns. which go t > feed and swell her magnifi j cent commerce. But a still more outrageous wrong indicted on the cotton planters by thfa system is the en tire overthrow of the great law of Supply and I Demand. In all christendom or heathendom i this law regulates the price of all articles of 1 commerce except cut ton. If grain crops f.fil i or are sh<*rt. bread is high—if th? «n :.-ir cane is i <iisca*v<l. sugar and molasses are Isigh—if the vineyards us the Rhine an.l the South of! i France arc blighted, wines a i l brandy rise, ami *so of everything el s<‘ but cotton. The plnnf- I er> may em-ount r disastrous seasons, or rava- i • ging in<sv ts —the crop may thus be cut otfone thinlr ami yet prices are under a power that 1 can and will force them down. Who does not i remember the f ate of the crop of ISC'.i? It was half million of !> de- >hort, ami y+ t a (‘vnibina tion between the Bank of England, the provin c!;il Banks am! the British Spinners tbre- d down the price ot. half. Th • cutton <r< p was in i.p’ir w:;r<Dioii-c< i’;-*t ea<v ami convc.iient — ;;.id t’.ic b’’: • <1 n up »:j ii. li.. I t > L-v Hlvt. add su by dr.i’.via’f the d.‘>or< the Banks dowa d >v. a. idimct -hut. rk't'ifc John R'lll i,on. ht s'. ‘ .• > •» rt -t ■ -op •. r1 ■ • I,m t a';'. Oar cett'.ns inu-f m».v •u . - ’ - d ‘-. Ht > ■!) of I i.n B?T ■ "./■ : . i-i i iiM .*• f'fi fi.'t'i'H**. 1 >!ri - - ii.i -■ vis i» i-l u" I L:'- .ul - v V- likely t i !"■ -L’.v'. ■ in rjfter- i* Ji !in enga ?vj in • 'vi w ’ pt ■! either by <1 <: me, the rri?eil in. or ;!■.*-• In ' ot' empire, ilo’i n x“i * I <ii:i'rott ii:--i*t!iere:ip”iiii'. !r!'; : iiL''Thre'.'iil N -.- 'lie V -t. like sm ■ :: '"■■>:i'r I'mii. cansetl a* it i* fii't now by tliv 'irep 'ii-ioii of tliv Ami-ri- 1 c:m Bunks, up pop* th? of i;itere*t .".m! ilov. n pop* the pri.-e of rotto’i. An l when i* i this horrible stat.* of thine* to cea*e ( Nov. r. I nev r, by the Eternal, until the Banking sy s tem i* abro'-'atoil —the hoine market control* ! the price of cotton, and M o ‘ ompel the world to ■ ome and Lire from us at our own price*. CALHOIN. BANK SUSTLN3IONS AND THE PENALTY THERE TO ATTACHED. It is a ci i cion cb.-s-i vation ai.d one which all experience sLow- tube true, that the se of-.; • : Ity !.-'v .v< r just in it self, d. :■ .t - ' the o!j '-t of a law. This is i-iiiincLtly the ease - re h -a: irifliction falls upon large ami ’ influential ■': <■« cud ir.t?:fcres with what they conceive their peculiar prerogatives ami privileges—and hence the relnetimce upon the part of G '.crmiri and legislators to en force the laws .'renin't the*:- corporations who havo broken faith with the comimniity and vio lated their contract vvtth the State. Whether ' there is a statute or not pointing' out a in. tliod of re smiling their franeli: -■ and de ’ pricing them of the nse and exercise th< reof is a mattes of pct fe< t imliflerenet fortheir char- I ters are nothing 1 lit contract* mid if tliey re pudiate and refuse to I c ! cund by them, they I cannot surely with any degree of justice or pro- ■ priety hold the ■ t!:er contracting party bound —if one party is at liberty to disregard Id* ! stipulation*, the other who is not in. fiuilt is not ' obliged to observe them, i'pon this principle l the banks can claim nothing at the hands of the Legislature and ns for the remedy to for ! ft it their charters, there is no statute required i give that —any individual uho feels himself .•ivcrieved n k :iv accoriling to the well settled prim 'ides of the common law, use the name of the State ai.d institute preceeiTings against them. Instead, therefore, of insolently de manding the pcs: age of a law, rendering them thanks for their faithlessness and rewarding : ud encouraging their short comings, it strikes ii*. that they had better appear in the posture of suppliants clothed in sackcloth and ashes, confessing their sins mi l with humble and contrite heart* asking forgiveness of those whose interest*, in their anxiety, for gain th .» I have sacrificed —whose right* they have gross ! Iv disregarded and whose power they have de -1 fled. Justice they do not want, for that world slay them; Imt they are greatly in ne<-d < f 1 mercy, and although they have trangres*c*d grievously and perhaps merit the row.-■••<! of their iniquity, y et. we should in the exercise ot a common Immunity and a little Christian for bearance and charity extended t i the worst of ' critninris condemned and tttder -■ • tenee, give them time to prepare for tli'-'r ed : bv.t wisdom would certainly reach n* t! while we do this it stands ;i* in '-"1 to ,i " r-the present op portunity tn place up'n tl,. i.r such restrict', n* and hedge them in u such disabilities ns will . etl'octtinl'r pre. mt . r t ctitmn of such wrong*. It tmiv perhap- be fno late to obtain indemnity for the but now is tli time to get securi ty for the future. In view, therefore, ot their present inability j h > resume (owing in good part to their re ck a .•as spirit of speculation and excessive issues) tl •■■ would propose the passage of an mt of am- tl csty and oblivion lor their pa*t sins—allowing ’ fi licin to retain their pre sent charters coinpell- c ig them to call in tlieir circulation and to j h .eep it within the limits required by their re pective charters— abolishing all agencies— I laking it an indi<table offence to take usury, . Kether it is practiced under the name ot dis ounts, exchange, acceptance or any other de- ( igmitioti: requiring them to do a legitimate 'anking and not a brokerage business under like penalty, and last, though not least. ( axing their capital stocks at the rate oi ( per cent, per annum while they remain , v.-p.-nded. to be paid monthly in gold and *ll- ( er into the State Treasury until they afford , he Governor satisfactory evidence that they ( mve resumed. Such nu act should leave open ; j o the individual creditors every remedy they low have for enforcing the collection ot their , laims, and when the bank failed or refused to mike the monthly payment into the Irensnry. 1 his failure should ij/so gi/rti/ w ork a forfeiture ' >f the charter and make it the duty of the Gov •rnor to place its asset* in the hands of a re- 1" I ICN. S. J. SMITH. AND THE "HIWASSEE RAIL ROAD" Mtr.LEtM kvii.lk. Nov. 23, 1857. I informed you in my last of the passage, by he House of Representatives, of the Bill pro . idiii'g a charter fortho " Hiwassee Rad Road —and I again allude to it as au act of common U'tice tn its friends and ■ pn billy to the g- li leman whose ii:.me heads this article. It ia* been represented by the enemies of t!:is iroject. that it* con*triiction will l e detrimen :al to the interest of the people of Georgia, is well as injurious to the future prosperity of die Western & Atlantic Rail Road, r.nd interfere materially, with the present pro gressing system of Rail Roads in this State. | Yet it i* worthy of consideration that the ene mies of this important publii' work, failed entire ly in their arguments to prove these facts, and iltliougli, we attribute to them nothing but the purest of motives in their strene.oiiscfl'orts to il»- !e-it t lie Bill, vet we must be permitted to say. that it did appear, w hile they were shouting in their >wn advaii’-emciit of prosperity, they were I,find to the interest of other important and deserving sections. The beuntit'id portion of North East Georgia, through which this road will traverse, with its gigantic water privelha *, stirticieiif to move the combined m.' hinery of the world, with it* grand :;nd picturesque scenery, its delightful ami im igoratingclimate, with its hill* and valleys teeming with the rich production* of it* -oil. lis- hitherto i«n comparativelv isolated, and almost without the ordinary facilities of conveying to market the rich and abundant harvest with which their fertile valleys a’ oun-l. This road will op-, n to tiieni the avenue* to a choice of markets. Cluir le*to:i and Savannah w ill l e the neare-t point-, and by a judicious system ot Rail Road*, tin dav wlllbe nearwhendlrmi-wick will bec.-me tin hoiiorelile ■-.a:.pctitort irt lie tradvot that mi . dumstible mineral and ag’ii ultnral rc'.’-aai ■.( our growing State. Tliv counties mostly intcrc-ted in this road, ar I!.' nil. I!: J> ' - :I■*l i: m: l.innpk.n; ritz'.: to build and cqiiiii a Rad Road. :is B: - , Iticlitm-:: I, (■h::tli.".m. Fi’ltoii or any otlu r county or count -s of th State, have; mid i; ... ;.!':■ x 1 : '"I '. th . i bin.is r.* as comuioa friend't > deny them tl:!' i-niL.tm»h'v and natural i' Lt. But ii is whisper ed. with lieeoming modesty, in the ears of all. (fiat it- constrnction will he iletriim at.d. t > the interest of the M esterti f. .'.tlantu- L.-ra itoa-l. and rather than thi* r .d should 1 • ? a farthing, thepeopleot North Eastern Georgia shall remain isolated ami continue to sutler the | me'inveiiienees which they have borne W ith patience and fortitude for y In reply to all this, 1 have to say, that a- a stockholder in ' common with the people ot G i 'ir:.da iu tn Mi-tern A Atlantic Hail Road, b. fore I would Slider it to become a Monopoly, or an engine of oppression on tlie people ot any portion ot the State. 1 would r.itlier make a bon-fire of that great work which ha* been the pride and boast of Georgia's enlightened v. i-lom, libei id ity am! patriotism. Me should .-ware, how we Re-tow exclusive privi'ums on this great work, or upon any particular action ot the people, for it is the nature of power to enlarge itself by continual ugg re-gat an, l.ke the snow ball, which gathers by its own niotii-n, until it becomes :m avnlanche that will hid ere we dream of danger and crush us with it* weight. The " Hiwassee Bill" was pre.-euted in the House by Mr. Smith, <-f Tow j: . who ha* gam.-I during the pa-t and present s.-s-ions mi envia ble reputation by the lofty, patriotic course ]»er sued by him on al! important svdqccts toucbnig the interest and tuture pro-perity i f the State. His untiring energy, patriotic zeal, and earnest fidelity to every measure of a general character, have placed him not::.' the advocate ot the views of a particular section, but the aide representa tiveoftlie State at large;hiscoinprclieti»ive views mingled with a practical ami liberal mind, have placed him chairman of the comunttec on ' :- uanee, a place occupied tor a long seine*ot yeai * bv the Venerable Dr. Phillips of Habersham, and one of the most important positions of the House; no one can discharge the responsibility of that position better than the incumbent.— BuX my engagements require my attention and I must, in the language ot the am and judicious historian "( Id Le/w luuiug,/ bring this to a close! TEMPLE. CLERK OF THE HOUSE. The paragraph copied 1-clow is taken from a letter of our Milled.-* ville e-rre'pomk-Lt. w hich .should have appeared in our last issue but was inadvert: ntly overlooked. Hie com pliment to our townsman, Col. A. M. Speer, is well deserved. His acknowledged talents, in dustry and integrity give full assurance that tire- ■•"lifidenee of the Bouse will not be mi placed. "Several reports from c nnniittees ware-made (on the 10th inst.,l among w liieh we.* that of the Special Committee on the Clerk* ot the Hoiree. 11l that report we find the following : M e have ever-, reason to believe from the information furnished ns, that tliei xpen-. * of the House of R ■ ■ sentatlvcs iu the Clerk’s Department w ill be r/amniable and gar in ! v.la.t it has been at previous session*; under the convietiun that the expense* will be properly guarded by the Clerk, and having the mm-' ; c • fi ! nee that lie will faithfully discharge his d;;;ie*, we u:akc this report. The report throughout is of a compiimenta rv character, and we consider it unnecessary to review it livre, but will ad.!, t■> those v.ho avo Keen most clamorous relative to the mount of expenses in this Department, that ie pay will fall far short of that amount which jcy proposed to give in the outset. This is a lir showing and reflects much credit on the npaclty an I competency of the Principal and is io i .taut*." Yours. TEMPLE. Mn.i.EixiHvn.i.E, Nov. 23. IN HOL’SE. Mu. Lockett, reported a Bill, to change cer :iin Congressional Districts therein named.— ",ie Bill proposes the following change: The county of Talbot, to lie inclosed and he re::: a part of the second Congressional Dis rii t. Tli 'unties of Pulaski and Twiggs to .-inclu- 1 ■'lii the third. The county of Harris o the fourth. The connties of Jefferson and lYaltmi to the seventh, ami the comities of Ireeiie and Hart to the eighth Congressional District. TEMPLE. [ For the State Press.] Mu. Ei rroi:: The follow ing ticket forCoun y Otlicer i was nominated by the Democracy if Twi- *on the Itith of October last: For Sherijl': M'. M’. BOZEMAN. lor Deputy Sheriff: JOHN RAILEY. /h/' Clerk of Superior Court: M RIGHT NEEL. For Ordinary: LEWIS SOLOMON. For Ta.’: Heceiter : JOHN VINSON. For Tax < 'ollertor : WILLIAM STOKES. The party is requested to attend the elec tion for these Officers on the first Monday in January next, a- there are grounds for believ ing that the opposition will endeavor to take us by siirpri.-.' by nominating candidates on tho eve of the election. Let us all. tinreforc,turn out to the polls. A Twiogs Democrat. "WILD LANDS." Bill* have been introduced into the Legisla ture. "making it obligatory upon the owners ot' unimprm -d lands in several of the counties ot the St.it ■ to re-turn them for taxes in the comi ty in w hich they lie." On th'.* subject, the .1 «//>/..-.1 Const it ‘/tloHtillst very sensibly mid pertinently remarks: "If these bills become laws, the owners of such kind - w ill be obliged to incur a great deal of nu"- ■ . -.ry trouble and expense inorderto prof- : tb--ir property from the "laud sharks,” who:- - I • f'i”id in every county in the St.ito where t:u iv is much unoccupied Imxlowned by non-: -id' nt*. They must employ mi agent to letii.t’ .-ir hind', mid il from his tmthlessness, nc.ii'.e:i'-e, or tiny other cmi*e. the taxes uro not p:,'. I. a tax' e’.ece.tioii will be issued mid lev u i end the Imuls will be sold for a nomimd ; , . . tliose who, by a certain length of pos- si'*:i.:i. miller color of title, w ill acquire a title v. hii li will hold the lands aguiust the rightfid owne:'. or oblige him to resort to the Courts to regiilu hl- property. Innumerable cases of thi~ ki I w ill oei :irif the bills now before the ■ ire are passed. We trust tlu:t they will : ' : Hint the Legislature will not, by pas'::: tii.-rn. oblige the owners of wild land* ii: h"i 'log tl.' iu. to incur unneccs-urv trouble 1 mi-! take thi risk of losing them W with on;-l'l.: 'mpornry. Hint such a . -.ij'ie laws will lint !►.- 1 lira tell. They , - ary, mid bea» lieiivily ttp o. . ; >:;' of the citizen • without elici ting .-. , i p.-.u-lli'.:; ii'iid. Me li.i’ no doill-t ■ :.'.tnr;-will ri-'Tisf to pas -tile Lilis. le.! L-Vi'-Vd Aui'iO? o.< raa b.ynis. T’i i' -2 c. iii.sl., ;a ‘ cd ::ie I .ibixing :Iby - - .-s :-. n.'v .;M'c lure nu space tn:' Cuiip : A I-'. . ::■! :tt> Aut t • <k’cL’.k« i :•! define t’ r> ’ -oft! >■ < . in >r hi H-iui urn hi the Banks c| , - . ■ w hich li-jvv siisjcDvV I >?;<•<•!<• pnvnient.'*. i <i ' ciiuci lii.-A ii.v Go. uin<»r be ,i. th ! tii'i ie.ii;iiu f n«»t t • iHstitateany proceed- ; ' ’ . ■ "t •■•itl.ei of the ihtiii ’i th:-Slate lh:it Ikivc suspended specie ]i;>\ i . •_ j.i '. i ied lie ■ rcMi!Hv<;n < rbefore ll;e first divot .iu: ■ : .t. nr ivithin thirty days after a gener al 'i’ ll "/ specie payments, except in t!*e case i , ihe (h.\ernor max be satisfied upon piupei e. id •• l;;.ve been compelled i<> suspend be ca.. the; had Hol liedi doing ,» legitimate banking •»i; !!;.- . j i .'.idl’d that said Banks shall pay specie !«>:• .ids <>. i-bd!-< that may be presenfetl by the T: v.i'.iie; t tlw M.’.tv for the purpose us paying any portion of the public debt or the interest thereon. ’ ■ 'Th” published in Phil:idelp!ii:i, fix <. L Juh•» W. Foknev, lias the fi»lluwin< Liter li'-:;: its Washington <•<»rrv.spon.lvnt : Wa'Hl.xgtox. Nov. 11, 1857. ‘•lt i< rumored that Mr. Buchanan, in hi* •’rd ,!iii.M>’ '.i ■• 1 » (.’<ingi\ s<, will take b.ild gin.m.l <>:i the eurren \v question ; that he will r ifoi.rn: tiiv principles laid down so clear ly in hi" < ■!< .••. ! '! speech <>n the Independent Treasury Li J. lie believes that it was the in tention of the frail I*, r? of the Constitution to ct: i I'"!. : .rd-niuiivy currency, and that the action <4‘ ( fol;; i t -s si’.ce has been a steady de parture fr< ni that intention. It will be his ob ject. then, to retrace tliv false steps taken, ami to 1 ri'g the Government back to the true ground. ‘•The issue will be made in the next (’on go'".’, \\ hethvr State Banks have the C’onstit'i tioji’U power to i>sue circulating “promises to • pay.” There will be a large party to take rhe in •. f :t:ve of the argument, who will in>t. iris >aid. y i- ! i until a decision lias been giwfrofl »lic question Ly the Supreme Court of the I nited States. Ag< m ral bankrupt law for the Banks will be presented for action. Tliis will pro- i lea ' for putting hitn lupii- d.at.on insolvent Banks all over the VnienJ .\S; xahi.e Reuu’E. —Taken toddy every morniii:r and a toddy going to bed, ami a tod dy just at lumh-time, it ytm're <lu3l ah«»Nt tliv head ; when your st«»ma<*h is all-awry or • hard limes” yoiu’piuspects blight, tiken a t '.ldy with atoddy, and two more wiAiset \on So take yum* toddy boldly, and -wig it like a king, but mix some caution with it, and it is ’ the very thing. *’ and us all toddies iroinir. that toddy is the if‘tis/>«?// sajarau : Lot water and good whiskey all the rent. —(jitri tjitiu. Corn \ Mvi:ket. —Cotton is still coming in slowly. More sales have been made for tho last week, though prices are nu better. Far mers have been holding back for better prices till they sec a prospect ot* a decline. Seasons have been remarkably tine fur picking. Crops in South Western Georgia, will be better than was anticipated. Price of Cuttoniu Americus, Il l-2c.— South yVfntem Xttrn. Coxi ktf.d <>e Foegeev.—The (’oluiiibus Sun - :i•> -_• 'i .x ti al of Edmund C. Corbitt, for forgery, w i.icli has occupied considerable time <»f th Superior Court of this comity, was l»rougl:t to a cL- •on Monday evening, ami the • ; \ t r<liyt of guilty. We understand that a motion will be i.imle tufa new trial, ami if that tads, thu case will Le taken to the Supreme Court. TLRRI2LE COLLISION AT SEA. T 1 ‘ " f, ”Unsbip (Ipclousas, bound tmm Berwick J’..iv fi.r Galveston came in collision . pGalvest »u at midnight ofxm- ■ ti ■ I'-’.h inst., and sunk immediately.— Twc!‘ - -five persons perished in the disaster. ' /tlidii < . f.. " Jhiiilltim. • f South ( .. AU the officers ami crew (27) wore savud. . Fif!. -six of the passengers were rcs<-ued.-- In tl t’ l’-t of those - ived. appears the name ot R. i. M upb . Tviyjs count}. Georgia,