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SuvA i r. ik* hy 'lu- directors with a view
improve the vain<*<>fthi! IV« ik proper
ty. c:i'! !,.» more ceUr rTirt:t Xee
ri<x!it ofthe Bunk as a proprietor of real
©st ate to ait! i.i the con.-ruction o! works,
which would increase the value of that
estate, and i can w.li imagine c ists in
which die incieased value oi’the property
would be five or ten times tlic nniount of
the so a appropriated. It is a u.icstinu
Let wee: i the Directors and the Stockhold
ers merely, as to the wise and judicious
application of the funds of the institution;
&if I were a stockholder-—is lam not -
I should certainly approve of the conduct
of my agents, should the fact he as I have
learned from the officers *d the Bank
that these two small appropriations were
> tide with a view to increase the value
of the Bank property, iu the manner 1
before suggested.
There is another topic introduced in the
Report, m relation to which 1 will sub
mit a single reflection. Reference is
made to the multiplication of its branches,
by the Bank Within the last four or live
years; and the opinion is expressed that
this extension of the branches is of very
questionable propriety, both as it relates
to the commercial community and to tkc
interests of the Bank itself. Now, so far
am I from holding tins opinion, that 1
should vote against the establishment of
any national Bank, if it were to const ist of
one uxeat central instPutio. without
branches, co-extensively with the wants
and growth of the country, & connecting
it with the operations of our internal com
merce. I should not regard a Bank as
being a National Bank at all, if (he facili
ties it utfords were cofmed to New-York
and,Philadelphia, and a few other Atlan
tic cities. 1 regard it as the chief excel
lence of the Bank of the United States,
that it possesses a sort of commercial übi
quity, by means of ihese reprobated
branches, whereby it lias given to our
currency that almost perfect uniformity
winch is unknown in any other country
of the same i xteut, and established a sys
tem of domestic exchange, to which I
will i.mi beg leave to call the attention
of the House ior a moment.
It was one of the grounds of complaint |
presented to the House when this? investi
gation was tirst proposed, and is now a
gain adverted to ui the repot, that the I
mother Bank had drawn large sums of spe
cie from the Southern ami Western bran- j
cites, and supplied the place of it by its
own paper. For myself, sir, I have an
interest in this lnaHer, as a cotton planter
and a Southern man; and 1 have some
practical knowledge of the opei ition com
plained of. and 1 do not hesitate to pro
nounce the system of exchange on which
it is founded, the most decidedly benefi
cial of all the operations of the Bmk 1
Would not desire a better exposition of!
the true federal character of tins institu
tion, than what is furnished by tbs very I
system. It is true, that the House, on ex- i
aimmngtlie general accounts of the Bank, i
vrdl ti l I that a large amuat of specie is ;
annually drawn from the .Southern and
W estern branches. Bat on looking into j
the details fit these accounts it will lie
seen that almost tiie whole of this specie
is draw- 1 from New Orleans. Now every
one knows that tins :s the great specie
market oi tiie United States, and upon
obvious principles of trade, the specie will
naturally go from a place where it is not
wanted, to a place where it is. New Or
leans supplies the whole Union with this
article. Almost the whole amount of re
turns for the productions we send to Mex
ico and other mining countries, directly
ami indirectly, ire received in specie, and
New Orleans is the port into w hich it is
imparled. Tins specie must le transpor
ted by someone, into the Northern and
Ei.-.erii cuics ; and as the Bank has very
large transactions of this kind, it can af
ford to edict tins tinnsportation at one
half the price ti would cost individuals.—
It >s erroneous, therefore, to say that the
Bmk draws this specie from tiie South
west: it is merely tiie agent, or carrier,
for tiie commercial community. A mer
chant in New Orleans, for example, who
has specie, and is bound to make a pay
ment a; New-York, obtains a branch draft
on the branch at New-York, or Philadel
phia, which answers his purpose better
than specie. "Issie Bank, at its conven
ience, transpoitt the specie in time to
meet anv dinnnds which may be created
ag u ist the Eastern branches hy the drafts
drawn upon them.
As to the other Southern and Western
branches, it is not correct to say that the
mother B ink has drawn large sums of
specie from them. On the contrary it will
b .-ecu on referring to the Monthly state
-111 ms for some time past, that the credit
given by the mother branch to these bran
ches, has been two or three tunes as great
as the amount of specie drawn from them
When, for example A 100.000 has been
draw i from a particular branch, the draft
of this hr inch upon tiie Northern hr in
-ches, will he found to be two or three hun
dred thousand dollars; an operation which
is ,a. cisely equivalent to that of placing
two or three hundred thousand dollars
of specie iu the Southern or Western
branch.
I will now submit a few remarks upon
another branch of tin exchanges in which
the bank has had ai important agency.
Th I’resident of tin* Bank adverted to
the practice, rcce itlv introduced by the
Directors, of selling hill* ii|kui London,
for the U •t*t |i».|i?t trftfbf, li.ivkm; hi point
off e’t about twelve month* to run, bein'/
pit iV' it s.x cioatliK after sight. Bv
th - oj* . 4lt -ml i li ii ibe Ir on of S|M--
e Ij hid In in forme 1 Iv p-odae* and |iv
lb" K I nfi i Hade, li i I tun J no.f ru
tin !v i.t «'rd 'file Report layoM-.
ill oi*. I‘n that 'bn hr i i ■" iV *•*»
i httuge ojM/raUous ol the Bank ha* br*<i
injurious instead of being beneficial to the
• marry, i will, therefore, usk the atten
tion of the House to a brief examination of
the true character and effect of this ope
ration’
According to the former usage of the
E is! India trade, a merchant, when about
entering upon a commercial advenure,
was under the necessity of purchasng spe
cie in advance to the full amount of his
adventure. Owing to the length of the
! li ist India voyages, he would he under the
necessity of retaining this specie, proba
bly six months in an unproductive state,
before lie would have occasion to use it.
Here would he a loss to the merchant of
six months’ interest on the amount ot Ins
cargo. But as the bills on Loudon, which
tiie merchant now obtain from the Bank,
are not presented to the London hank
ers until twelve months after they are
dr iwii, the interest for this period is saved
to the merchants, and through them to
: the country, by this operation which the
report deems to be injurious. It is sup
posed bv a part of the Committee, that the
only material effecot this arrangement,
is to cause the exportation of specie to
England, instead of the East Indies.—
Even if this were correct, it is apparent
that the interest of the specie, during
more than half the voyge, would he sa
ved. But the true result is very different
i from that supposed.
It is true that the hills on London must |
he paid hut if does not follow that specie
must be exported to provide the means of
paying them. It is the cotton, the rice,
and the other agricultural productions of
the South that furnish the means of paving
these hills in London. When the ex por
ter of these productions finds that lie
cannot owing to our tariff or otliet causes
import the manufactures of England these
manufactures are sei t to the East Indies
to be exchanged for nankeens sil s, and
teas. The result of the whole is, that
cotton and rice and tobacco, instead of l
specie, are exchanged for such East!
India production as our mar et requir- !
es.
lanta little surprised that the gentle
i man from Georgia should question the
j utility of a measure so beneficial to the
i planting States. I am sorry that it has
become my duty to notice the rctnar s j
] upon another topiewhich the majority of J
! the Committee have thought it expedient 1
j to introduce iu the conclusion of their re- J
j port —remar s which can do no good, in !
niv opinion but may be productive of much I
mischief, if not promptly explained and
refused.
I know the Commitee did not intend j
to produce the ( fleet which I apprehended I
and 1 believe they are not fully aware of I
the impression which their remarks are j
calculated to make on the public mind, if j
left unexplained. They go into a com- |
parison of the resources of the Bank, to]
meet its engagements in 1819. and at the j
present time; and they present this com- I
parison in such a way as to suggest the j
conclusion, that the Bank has overtraded i
and has not the means of fulfilling its cn- j
gagemeiits, or at least, without producing j
a great and injuroiis pressure on the com
mercial community.
Now, I would be w illing to risk .what
little reputation 1 have for knowledge on
these subjects, on the assertion, that there
is not in the United States, or upon the
face of the earth, a Bank (if the old Bank
of Hamburg is not still in existence, a
mere Bank of deposit©) that is more ade
quate to meet any demands which may
come against it, than the Bank of the U
uited States at this moment. In estima
ting its resources the Committee have con
fined themselves to the specie in the vaults
and the paper of the State Bunks. Now
it is true, sir that the specie of the Bank,
and its State Bank notes together amount
only to about ten millions anda half while
its nett circulation amounts to twenty one
millions. But in estimating the resources
of the Batik, w e must add $1,750,000 re
served by the bank, and charged to the
head of profit and loss, making tlie eash
resources of the institution upwards of
twelve millions. But in addition to these
items, there is one nearly double as large,
which the committee lias entirely over
looked, and which is almost equivalent to
so much cash —1 allude to domestic bills
of exchange, purchased hy the Bank, a
mountmgto 21,000,000 dollars, none of
which have more than ninety days to run
and mdst of which will he converted into
cdsh in a much shorter period.
These domestic bills were not of the
nature of discounted notes. They are not
only business transactions, but business
transactions that will be certainly brought
to a close wlien the bills fall due. They
were '’used upon the actual sale of pro
ductions of the Southern and Western
States. For example the merchant of
; Charleston, or New-Orleans, sells pro-
I (iuee to the Northern merchant and sells
] the Hank a draft upon this latter for the
! proceeds. This draft must be paid at
| maturity,at the hazard of a protest,and
i the loss of commercial character and no
additional accommodation is experted
from the Han , as in the case ofdiscoun
ted note. The idea of a renewal is w hol
ly inapplicable to the transaction. Be
sides the twelve million of cash there
fore. we have here a resource of ;J1,000,-
000 dollars, inn ini; u the whole .’111,000,-
011(1 which is a fund possessed hy the
Htn to meet a circulation of •,* 1.000,00(1
without culling in u single dollar of
tlie I l,t)00,000 dollars of di>countcd,
! notes.
It Ik true, sir, that if the II uu thoubl
i have occasion to -mow rt its domestic lulls
into ca»h, mul cease, to certain • Unit,
to porch., m> these h.lls, the merchant*.
Would hate to pureluiM'them from-100 •
cr# at« looiira'e. 'J'ftw would lio the * lwl«
i inconvenience that the community would
suffer. The oppetation would not he at all
! analogous iri its effect to calling in dis
; counted twites.
The Ban -, then, has resources to the
I amount of 33,000,000, available to meet
! any run which may lie made upon it: and
I fearlessly express it as my opinion, that
if tin attempt were now made to bren the
I Ban -, by running upon it for specie, it
would be prepared to pay every dollar of
i its circulation before the bills could possi
! bly reach the Bank, and would have some
! ten millions of its resources left, without
any curtailment of its discounts.
FOBEIGf.
[from 'he I'hrhidr j)!ua l S. Ctaztte May !• J
LATEST FROM ENGLAND.
By i lie Mouougahela, Capt. Dixy, ar
j rived last evening at this port, from Liv
! erpool we have London and Liverpool
| dates to the 7th April, for which we are
| indebted to Mr. Sanderson of the Coffee
! House.
Tiie papers contain lit!le of interest.
The second reading of the reform Bill
was to take place in the House of Lords
1 oil the 9th.
A passenger in the M. mentions that
! little or no alarm appeared to exist in
London on account of the cholera
and the disease was considered as sub
: siding.
The London Times of the 3d, holds
this language.
“There is little chance, we understand,
that the second reading of the Reform i
Bill will lie carried in the House of
Lords by more than the scantiest possible j
majority. Os the Bill passing the Com- j
mittee without an entire chance of its |
most essential clauses, there is no pros- j
licet whatever, —not tli most remote, — j
with a body of I'eers composed like the
present.”
“Although, however, a defeat upon the j
first great questions which is likely to n
rise in the Committee may lie repaired i
hy an immediate creation of Peers, who |
would aid the Government in recinding!
the obnoxious vote upon bringing tip the
report, it is abundantly certain that a dr- |
feat on the second reading itself must be !
altogether irretrievably. Act how trt
mendously daring is the game now play- !
ed by men in power! The Ministerial
lists ior the House of Peers are not yet j
represented as offering more titan a tna- j
joritv of six for the ensui tiff stage of the j
Bill. A majority of six in an assembly of!
fIOO members!”
BELGIUM AND HOLLAND.
Brussels, April 2. —This county con- !
fumes dreadfully agitated—troops are i
marching towards the frontiers Irom all
directions. The fortresses are vitualled
—the hospitals preparing—and from the j
preparations and orders issued by the AY ar
Ministers, a rupture with Holland may
lie daily expected. It is in contemplation j
to call out the second levy of militia for j
the year 1832, amounting to about 12,000
men. At Ghent the troops are already
in motion, and two regiments one of in
fantry, the other of light horse, and sever
al batteries of artilery, have received or
ders to march toward the frontiers, two
batteries of art illery and lancers have been
ordered for Brussels, from Namur; two
vessels, laden with hall and ammunition
leftTournav on the 27th tilt, for Antwerp
and on Sunday last several canpaign ma
terials left the same fortress, taking dif
ferent routes. The fortresses of Liege,
Huy, Namur, and Ghent, have been pro
visioned for three months and the head
quarters of the army leave been removed
from Brussels to Louvian. At Antwerp
the troops are nightly put under
arms, and the horses harnessed to the
guns.
The Dutch and Belgians themselves
think that an appeal to arms is high
ly probably, because they are both
making the most anxious and expen
sive preparations for that contingen
cy.
PORTUGAL.
Our Madrid and Lisbon letters contin
ue to strengthen the impression that, in
the approaching struggle between the bro
thers for the Crown of Portugal Spain
will act neutrally. The latest accounts
from Don Pedro state that lie took pos
session of St. Michael’s on the 22d. a
mid the congratulations of the inhabi
tants; and an expedition, under Admiral
Satorios, was to sail against Maderia up
on the 20th, which it was confidently ex
pected, would also succeed in restoring
tha' important island to the lawful .Sov
ereign of Portugal. The intelligence
from Lisbon itself is satisfactory—for
Don Miguel, though strong in all the
materials of defence, was becoming daily
more weak in the fidelity of his troops.
Even the tyrant himself, since the refusal
which lie had met with from Spain, is
said to be desponding as to the issue
of the coining conflict. The confi
dence of Don Pedro’s friends remained
unabated.
IRELAND.
Two poor creatures died last week
of starvation in the streets of Dub
lin.
Irish poor. —Mr. Sadler has given no
tice that, on the 10th of May lie will ap
ply fop leave to bring ilia bill for estab
lishing a permanent provision for the suf
fering and destitute poor of Ireland by
[ levy upon nil the real properly of
| that part of the United Kingdom, and
! more particularly upon that of the ahsen
j tees.
Murtlrr in (lain ay. — Mr. Clark,of the
W 4'.tern Argus newspaper was murdered
j >ui Monday night lust, and his body
throwji into o lake. There are upwards
of 399 | m re oiis confined there for trial at
i the present and/* v
Murder. —Wednesday night last, five
armed villians entered the house of n
man named Tate who resided at Dun
drum, iiud, stabbed him to death with a
bayonet. They then turned on his ser
vant, tired at, and so s vercly wounded
| linn, that there’s no hopes of his recuvet y.
Clonmel Advertiser.
I [Fn>rn the Message.r des Chambers, of April sth]
FRANCE.
It is impossible any loi ger to doubt
I that there is an organised band in Paris
j who poison the wine, the milk and the
J water, throughout the city and the envi-
I rous. The people are greatly exaspera
ted, the citizens are in a perfect dread,
and cry loudly against so infernal a con
spiracy.
AYe will give a few facts as wc hear
them, and w hich unfortunately appear to
lie too true.
At Cros Cnillon three men in succes
sion have been arrested on supickm of
poisoning.
One of these delinquents entered the
simp of a wine merchant when he was
quite alone, and asked for a boftlo de vin
a vingt sous, and whilst the latter had
! gone to the cellar for it, he drew a packet
from his pocket and threw the contents j
into a large jug winch stood there. The
merchant’s wife however, who was sitting
concealed by a curtain, and had watched j
the man’smovsment, ran out seized him
by the collar and held him until her cries I
brought her husband and others to lierj
•assistance.
The villian was immediately taken to
•a neighboring t orps de grade, where two {
others were brought iminediatelv after,]
charged with the same offence*. The
people w ere so enraged, that they would
have killed them had it been in their pow
er the whole neighborhood was in a
groat uproar. The Commissaire de
Police had the greatest difficulty in
conveying them safely to tiie Prefec
ture.
In another instance of the kind, a man
entered the shop of a milk-woman living
iu die Rue de Bac, and asked for gome
warm milk, which she gave him in a
measure and he poured it into a cup lie
took front under a part of his dress. He
then put his fingers into it for the preten
ded purpose of feeling whether it was
warm, and saying it was cold, attempted
to throw it again into the tin milk pail;
but feeling some suspicion from the re
ports in circulation, and not altogether
liking the appearance of her customer,
the woman closed the lid of the pail
snatched thecupfroin his hand threw the
milk into the gutter.
The same night, at Villejuif, two haw
kers entered the house of a milk women
and attempted to throw a poisonous drug
into some pails of milk which were about
to be taken to Paris.
In the Ruede Colombier, an attempt
was made to poison the well of a Inker, j
In consequence of which the wells art; ev- J
cry where covered, and fastened with a
lock and key, so appehensive are people !
of these nefarious transactions. Many i
ladies have themselves gone to the wells ]
of their bakers; for the purpose of seeing j
that precautionary measures had been
taken. i
The water carriers padlock their pails, j
and have the lids to fasten down herme
tically’.
Thus one calamity was not enough,
but another must lie added. To thy phy
sical evils epidemic and Cholera, are ad
ded these torments of the mind which ag
gravate the* others and throw the whole
city into a state of consternation.
The day drags on, people run to and
fro, and in the midst of so many trou
bles, seek distractions of which there is ;
no great need; but every where something I
dismal presents itself. Several families!
in the same house join for personal safe
ty. The city towards ten or eleven is
! quite deserted, except in the very cen
; tre, where the agitated crowds continu
! ally assemble in great numbers?
AY e must not however; lose our confi
dence. There is no want of precaution
ary measures. Each is looking to the
I safety of the other. The authorities are
i very prompt in their duties, arid do eve
! rv tiling that can be done and medicines
, and attendance are every whereto be had
j for the Cholera patients. As to the pot
j soners , it is to be hoped that the first ar
! rests, and the punishments awarded to
j these villians, will prevent others from
• following so abominable an example of
j vice, and that that security will he res
; tored to the capital of which it lias so
| much need.
The editor of the Havre Journal
! states that he has been assured that fif
] teen or twenty thousand persons will
! repair to that city, from countries bor
j dering on the frontiers for the purpose
jof embarking for the U. States du
i ring the ensuing summer. Already the
| government foreseeing the inennvenien
! ees attached to this continual emigra
tion of persons, who for the most part
arrive without resources in the French
ports; have prohibited the admission on
the frontier, of all such as did not pos
sess measn of passing through the
j country, without* being obliged to re
sort to charity on the way. But it was
said this measure did not prevent these
unfortunate persons from arriving in
1 the sea ports in the most destitute con
dition and remaining three sometimes
a very long time before the departure of
ii vessel.
Th© port of Bridgetown, (Barbados,)
has been derl.uvd by Proclamation, open
for the ndniirsiou of Floor and Lumber
from the I nit*d States free of duty, the
regulation to 4'otiiuiue in force, until fur
ther order*.
From the Curt espnndent og ! hy Ch• COUP. I' ?
AA ASIHNGTON, May 10, le-32.
“The question was taken to-day in die
Senate, on the proposition made by Mr.
Bibb, to abolish liie postage on newspu
-1 pers, and the decision was in t lie nega
tive, there being 22 in the affirmative,
and 23 in the negative. The question
will be again taken m die Senate to-mor
row, the first decisionUeing in Conuni'
tee of the Whole; and as i presume am
ther of the friends of the -motion (Mr.
| AA aggaman) may be in his place, the de
j cisiou of tins question would, in that case
• he devolved on the A’ice Pri sident, who
' would give his vote in the affirmative.
; There was some splendid sjieakmg on the
question of the condition of the Post Os
! flee Department, by Mr. Clayton and Mr.
Holmes. A good deal of their ri< r or was
| expended on a man who is really too eon
] tcmptible to be selected by champions of
! such tried ami acknowledged temper ami
; chivalry. I allude to Isaac Hill, of New
Hampshire, who has not a friend or asso
j ciate iu all the Senate—scarcely one, ou
! ol the circle oftlie kitchen U.ubmet, iu all
the city. He was irritated I eyond bear
ing; and at one part of Mr. Clayton’s re
marks, rose from Ins seat, arid asked if
the Senator from Delaware applied his
observations to him Mr. Clayton replied
with great calmness and serenity, that
when he had concluded Ins observations
the member from New Hampshire might
read another speech. Mr. Hill rise to or
der, and as required to write down the
words, but as he was only able to w rite
down “There are creatures too despica
ble,” and as it was impossible for the Se
nate, sagacious as that i;ody is, to discov
er anv thing disorderly in these words, the
V ice President, alter w aiting awhile for
some Senator to make a motion on the
subject, and waiting in vain, repeated
the words, and then desired Mr. Clayton
to proceed. Mr. Hill w rote a good deal
afterwards and I doubt not that we shall
have the benefit of his writing and rea
ding on some future day apply to some fu
ture object.
“In the House there has been a very
warm debate on the Houston affair. A
desperate effort has been made to bring
the discussion to a close 'o-day. To-mor
row is appropriated for business connec
ted with the District of Columbia; and the
House has already come to a determina
tion to adjourn over from to-morrow un
til Monday. Mr. Crane, of Ohio, lias
made a very eloquent speech to-day, in
opposition to the motion to discharge
Gen. Houston. .Air. Wayne, of Georgia,
lias stated that he made an arrangement
with a gentleman from Alabama to sit
out the question to-niirlit; hut he had sub
sequently learned that there are at least
seven gentlemen who are prepared to de
bate this question extensively; there was
therefore no prospect of corning to a de
cision to-night. He then appealed to
the friends of Gen. Houston, with whom
lie intended to vote for the discharge of
the General, and assured them that to
hurry the question would be to endanger
the safety of General Houston. A pro
position was then made to adjourn until
10 o’clock to-morrow, and another to ad
journ till 11, the usual hour of meeting.
Mr. M’Duffie suggested that if gentlemen
who intend to make speeches, make them
with a view to be heard, they had better
sit here and speak tins evening; because
there will he a full house, in the expecta
tion that the question will be taken this
evening, lie had always found that mor
ning speeches were made almost to emp
ty seats. To-night, they would he made
to a full house, and he would sit here with
pleasure until midnight.
“There was a great tumult and hustle
Mr. Kerr, of Maryland, spoke of the dif
ference, which was to he looked for be
tween a mob and a deliberative body
like this silttingto decide a judicial ques
tion. A motion was made by Mr. Craig
to suspend the rule, f r the purpose of
enabling him to move that th< House
shall meet tomorrow morning at 10 o’-
clock, for the purpose of taking up the
subject. ’The rule was suspended,
and the motion to meet at 10 o’-
clock was put, and decided in the affir
mative.”
\Vc are obliged to confess that a
gninst all our habitual predilections, ;ve
are exceedingly pained at seeing the
course that has been adopted by the
present session of Congress. First, a
set ot vapouring challenges that in their
ridielousness escaped the more serious
ofthe nation. Then the Bank enquiry
on which the friends ofthe bank, as a
body by seeking to screen it from scru
tiny, behaved as badly ns possible; and
lastly Houston’s affair’ in which our
political friends have acted as badly
as any before them, ns regards both
principle and policy. In principle be
cause the freedom of debate is vitally
important to tiie existence of liberty it
self. In policy because any, the least
backwardness in protecting that immu
nity, puts a rod into the hands of their
adversaries. Houston beat the member
this is Confessed.—He beat him for
words spoken in his place as a repre
sentative: this is also confessed. AVhy
then evade and delay and beat the bush.
Why not giveup the man. at once. let
him be who he may. to due course of
law let bun receive such punishment
as is due to bis offence. Let the dig
nity of the floor of congress be vin
dicated, and lei us hear no more of
it..— Ga. Journal.
The Hon. John Branch says the Ra
leigh Slur, pissed through this place ou
Friday last on his wav to Florida whither
|he lias been called hy the uulisposi
| inm of Mrs. B. lie expects to re
l turn to Washington iho first of mx*
I mouth.
