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£imfs arur Sntfinrl. COLUMBUS, GEORGIA. FRIDAY MORNING, JUNE 17, 1853. FOR GOVERNOR. 11ERSC1IEL V. JOHNSON. DEMOCRATIC STATE CONVENTION. MiLLKDGtvu.LR, W tdinsday, June ,5. 1853. The convi ntifit) met t the Capitol at 11 o'clock to- Mr. McMillan, of , was railed to the chair and two hundred and seven deh gates appeared r pre senting 79 eounti* s. Thos J. Burney, of Morgan county, was elected President, and Merst s. Kennan, Whitfi. Id, Robison, of Washington, Puise, of Chatham, Wilcox, of Irwin. Tu< ker, of Stewart, and Woottcn. of Carrol, Vice Presi dents ; and Messrs. Morton, of Muscogee, and Hood, of Gordon were appointed Seeretaries of the convention. Mr. Harrison, of Chatham, moved that a majority of the vote* should be sufficient to *lect the candidate for Governor; and Mr. Lomax, of Muscogee, moved as a substitute the adoption of the two thirds rule. Avery animated discussion arose thereupon, wlnrein Gardner, ot Richmond, and McMillan, of Habersham, advocated the substitute, and Messrs. Flournoy, of Washington. Howard, of Crawford, and Ilillyer, of Newton, opposed it. This discussion elicited some fe ling, but good tem per was soon restored by the withdrawal of the original resolution. Mr. Lomax, of Muscogee, then moved the two-thirds rule, which waa almost unanimously adopted. Immediately the ballot cornmcnc and and resulted as follows ; FIRST BALLOT. 11. V. Johnson 129 ; 11. G. Lamar 79 ; 11. A. Har alson 71 ; Hiram Warner 24 ; II R. Jackson 24. SECOND BALLOT. 11. V. Johnson 163 ; H. G. Lamar 51 ; 11. A. Har alson 77 ; Hiram Werner 16; Starnes 3, and 11. R. Jackson 5. The convention then adjourned until 3 o’clock, in the very best temper. The only occurrence that has yet transpired to show the temper of the conventii n, waa the adoption of the two thirdsrule. Though the friends of Johnson wereevident ly largt Jy in the ascendant, and could have fixed the ma jority rule upon theeonvention, and thereby almost cer tainly secured bis nomination. Many of them advocated the two thirds rule and thereby gave the highest evidence that they preferred the harmony of the party and the good of the country to the nomination of their favorite. “Harmony,” “conciliation” are the watchwords of almost every delegate, and whoever may be nominated will be ardently supported by every man in the conven tion. The mail closes at 3 and there are no “wires” at the capitd. In great haste. MUSCOGEE. BY TELEGRAPH. EXPRESSLY FOR THE TIMES & SENTINEL. Milledgeville, S o’clock, 10 in., P. M. ) June 16, 1853. | On the third ballot Johnson received 172 ; Haral son 91 : Lamar 26 ; Jackson 3; WarnerS; Starke 3. On the Fourth ballot Johnson received 192 ; Haral son 98 ; Starke 15 ; Jackson 3 On the Fifth ballot Johnson received 205 ; llaralson 85 ; Starke 12 : Starnes 3 ; Bi nning 10. The nomination of Johnson was made unanimously I and gave general satisfaction. The Mesilla Valley. Everything that bodes a disruption with Mexico, gives rise to endless speculation throughout the country. A French adventurer seizes upon an unprotected province in times of intestine discord, and flourishes a blazing proclamation, and imim-diatel) our joui ualists put their heads together to manufacture war for our Govern* men:, and profess to discover a premeditated, fixed pur pose on the part ot a distant nation to embroil us in aims. A bastv net on the part of two or three officials, thousands of mi es from the seats of their respective governments,, sets the whole country agog as to the possibilities and probabilities of this and that const quence, befo-e either government has had time to make an in vestigation of the matter. With no data but lying re ports and semi-official d< senses of the blunder, we set to work to condemn one—mark out a course of conduct for another—and instruct the government in detail as to what should be its proper course. In the case of the Mesilla Valley, Guv. I.ank was censured all over the c untry before anybody knew a word which they could settle upon as dt finite. Conjecture was rife as to the part our Government was playing in the game, j Some professed to see a settled plan, by which we were to bt come involved in a bloody war, and hydras and ; chimeras dire started up wherever an ink pot could be : upset anJ blazing capitals read. Wo need not say that it is a practice of many journals to get up something new and startling, to make a mountain out of every mole hill, and when they have 6et the train a-going, to | lay back and laugh at the tempest they have raised, j After all the fuss is over, and the facts in the ease aa- j certained, we find in the Mesilla Valley affair that I our threatened war with Mexeo dwindles into a ridiculous absurdity. The whole difficulty can, and we doubt not will, be settled by an hour's adju dication between the two governments. No one has ever seriously believed that the present admin istration desired to provoke a war with Mexico, and least of all, upon the flimsy pretense now urged. The whole matter of the present controversy resolves itself into this : A misunderstanding ; s to the true boundary j line—which Mr. Commissioner Bartlett run, and j which those connected with him dissented from. Gov. Trias very foolishly flared up and beat bis drum. Gov. I Lank very properly r fused to allow the beligerent Mexi* j can io have everything his own way. The matter is now betore the proper authorities—and we doubt not, will re- ‘ suit amicably—and we shall have to scare up something ■ else to manufacture war of. This much good, however, • tesuits trom our propensity to give undue importance to j trivial matter, we become acquainted with what was before comparatively unknown—we learn the geography of a great deal of country we never before heard of, and like Alchymists seeking for the philosopher’s stone, a great many facts are brought to light as to policies and principles of governments, which we should proba bly not so toon have become acquainted with. As wars and rumors of wars appear to be the prevailing topics which vaticination deals in, we wouldn't be surprised it something did turn up in order to let off our su;>er fluous blood. We seem to desire depletion badly. Wc have talked over the projects of the French Empire— Cuba and war with Spain—sv>nora—Mr. Soule anil the Spanish Court—the Garay #nd Sloo grants—the fishery question—and lastly, the Mesilla Valley *fifa r. M hat next 7 By all means set aon&thioji afloat of w*- shall di ol ennui. First Congressional District Col. Jameb L Seward, of Thomas county* is a candidate for Congress from the Ist Congressional District. Third Congressional District. Hon. Dav.d J. Bailey has been nominated by the Democratic party ot the 3d Congressional District for re-election to Congress. Public Document*. I We are indi bt*d to the lion. Robert Toombs for valuable public documents. Editorial Change. B. C. Pressiet Eeq.. the farmer able editor of the Southern Standard, published at Charleston, has been , succeeded by Leonidas W. Spratt. Mr. Pressley is ’ still the proprietor of the paper. Acquitted. j Thomas Yarbrough, one of the party arrested on ’ charge of plac ng obstructions on the Muscogee Railroad, was tried in our Superior court on Tuesday last and acquitted. The trial of .Tames Forsyth for the murder of Puss Bugg. was taken up on Wednesday morning and is still progressing, the argument in the ease will close to-day. C- lquitt & Holt for the defendant, Me- Dougald & De Von and the Solicitor General for the State. O” A Washington despatch to the New York Cour ier says: The report that Judge Conklin had written to Gov. Lane requesting him to desist from seizing Me silla, creates some sensati n here, but is not credited. The indications now are that Lane is sustained by the Administration. A long Cabinet meeting has been held today. It is understood that the Fisheries, and the instructions to Gen. Garland with reference to Mexican affairs, were the subject of discussion. The Mesilla question looks more threatening, and the accumulation of British force on the fishing grounds requires all the circumspection of the Government. ID” The Editor of the New York Journal of Corn merce says that on Thursday, he conversed with a j Southern planter from the Northern part of Georgia. | who has come on to engage men to work on his plan ; tation. “He has commenced harvesting and requires additional help; but the enhanced value of slave* since the Abolition agitation places it beyond his ability to purchase a larger supply, and white labor can be em ployed more economically than that of hired slaves.” The Board ot Directors of the Baltimore and Ohio Raiiroad Company have determined to reduce the fare between Baltimore and Washington, to $1.25 ; i and to reduce the round trip ticket, good for the day only, to $1,50 both rates to go into effect on the Ist of July ensuing. OCf Accounts from Turk’s Island to the 14th of’ May, state that to that date, no salt had been raked up this year ; yet, but little rain having fallen, the pros pects were good. D” It is stated that in the event of further difficul. ties with Mexico, Gen. Wool will take command in the field. ? ££r The New York Post of Thursday says, the j cabinet has been in session since Monday, engag.-d as : is j-upposi and, chiefly upon the Mesilla Valley qu stiun. Tfor the times and sentinel.] The Democratic Party—'The 2d District—lion. Marshall J. Wellborn. The Enquirer is astonished that Gen. Pierce cannot find any body but Fire Eaters to fill the public offices in his gift. The Editor makes his facts and then gets up a fit of surpri e. Col. Henry R. Jackson, who was well known to the country as a conspicuous Union man, has received a very handsome appointment at the President’s hands; and the readers of the Enquirer have lately been edified with the lugubrious complaints of that paper over the ap pointment of certain Ftee Soiiers ; and these latter have so afflicted our neighbor as almost to kill the old leaven of Whiggery in him,and make up in him the new man of “Conservatism.” Now, we apprehend that the Enquirer! and all the politicians ot its ilk, are more hurt and chagtin- ; ed than astonished, at the honorable recognition by the ! President, of men whose unpardonable crime it was, to stand by their own section in a sectional dispute. Our neighbor w ould have preferred that Gen. Pierce should have put his interpretation on the conduct of the Southern Rights party, and hold them —not as patriots standing up for the equal territorial rights of the States, aid the invio lability of the constitution, but as Traitors seeking to fire the Temple of the American Union. But history has al- I ready dissipated the mists of humbug and detraction which politicians of the. Enquirer stamp sought to throw around the i struggle of 1850-’sl, and the judgment of the whole country I has pronounced the whole series of movements in resistance i of the compromise of tnat era as eminently praiseworthy ! and patriotic, and as having done more than any event of the last quarter of a century, to strengthen the bonds of the Union, by forcing back the heady current of Federal usur pation and restoring the National administration to its State Rights channels. It is high proof of this, that the Pres ident of the U. S., born and reared in the granite region of a State Rights political faith, does not join in the cry of pi o scription against Southern Rights men, raised by men, born and reared on the soil, which was the object of attack and defence. Union and compromise man, though he be, Gun. Pierce has a head to perceive and a soul to appr ciate ?.he motives wdiieh animated the men who struck boldly for their firesides, institutions and homes. T here is a wonderfully parallel case in the history of our first revolution. Beyond a doubt, the royal party in Amer ica, who adhered to King Geoige as their lawful liege and king, were greatly “astonished” at the close of the war, to see with what wonderful accord, the w’orid pro nounced a “well done” upon the patriotism of George Washington and his compatriots. These gentry might have well exclaimed—“ Why we thought we were the pat riots, who were fighting for our king and country,and that Washington was a rebel, attainted of high treason against the British Union and a price set on his head.” Let the non-resistants of the present day take a lesson from this il lustrious examp'e and cease to rail with pointless venom and satire against Southern Rights men—cea-e the fruitless attempt, grown threadbare by stale repetition, to cry down the advocates of a great cause under the mad-dog cry of “fire-eaters” and “disunionists.” But there is another view of this subject to which we would invite the attention of our Democratic brethren. This “damnable iteration” of a worn out cry, on the part ol the Enquire;—what Lit and wh&t it object, but to throw a tirebiand of discord into the ranks of the now re-united Democratic party ? We have agreed in our Democratic family, Union Democrats and Southern Rights Democrats, that the issues of the past are settled and gone, that “by-gones shall be by-gones”and be buried w th their heart-burnings and differences with the controversy which gave rise to them. We have agreed to meet on the common platform of the Baltimore Convention of 1852, and to ra !y together as brother Democrats around the Republican State Rights j adminbtration ol President Pierce. The new party to ! which the Enquirer belongs—the Conservatives (!) dread j this friendly locking of shields, and would bieak thisin i vincible phalanx by adroitly sowing the seeds of suspicion | and distrust among its members. Shall we be silly enough to succumb to the weak aits of the enemy, or with a noble disdain, bury past prejudices to stand by our principles ? Speaking for the Southern Rights party, we are ready to act, fully and frankly on this principle. Perfectly satisfied with the recognition of the integrity ot our course by the National administration, it is a feeling of our hearts, dietat i ed alike by sentiments of generosity and motives of policy | to give to Union Democratseordiallysupportingtheadmin i-tration, such positions as they may ask and gratify their i ambition and pride to the fullest extent. We beli**ve these | are the sentiments of the Editor now absent on public duty j at Milledgeville—they are cettainly those of the writer, his locum tenens for the moment,himself, by no means a very moderate fire-eater in his time. We think this course is I demanded by propriety, by justice and by generosity. Our wing ot the party is in the majority—it is for the strong to be magnanimous, and the feeling of conscious magnanimi |ty is worth all the offices in the world. A few months ago, i while the fires of persecution and detraction against our i Southern Rights brethren were burning fierce and bright, | we were clear for maintaining a strong defensive position— ; for running Southern Rights men for everything, and com pelling recusants to choose between them and Whigs. But the times and the circumstances are changed. Our honors and our characters have been nobly vindicated by he National administration and by the verdict of eo ternporary public opinion ; and we now believe that the convention to meet to-day at Milledgeville* should nomi nate a Union Democrat, and that in this Congressional Dis* trict, a Union Democratic supporter of the administration should be put in the field for Congress. And looking over the ground, we unhesitatingly say, that the man for the oc casion is one, who although we have strongly opposed him in times past, politically, we have never lost our respect for him personally, or questioned the motives which prompted him to what we considered an ill-advised course. We refer to MARSHALL J. WELLBORN. The reasons for this opinion are most clear and obvious to our mind - We have not space here, to enumerate them all. Mr. J< hnson, the late member,is to take the field again—not as a Whig, but under the less trying title to his nerves, ol a “Conservative.” True, “Conservative” is the “same old coon”—hut sometimes it is expedient to ignore the enquiry of Shakspeare, “what’s in a name ?” Politicians some times think names are things—and one of the things tiiat politicians like to have nameless in regard to themselves is, that they have turned their coats. Mr. Johnson went into | the contest of 1850 a Democrat. He came out of it, ranged • along side of the old enemies of Democracy, and now with 1 the triad influences of Whiggery, Conservatism and Union- i I i sm he expects to slip easily over a stream, whose Hood tide j buo* ed him up two years ago. By the abstraction of Irwin and Houston from the District, the vote is exceeding ly close as between old party lines ; and hence an opponent should be put up to meet Mr. Johnson on all three of the trumps ho means to play. Judge Wellborn is that man. He is a Democrat, which Mr. Johnson has ceased to be (and we understand blesses God for his deliverance from the party)—he is an administration man which Mr. Johnson is not; and he is quite as good and a far more consistent Union man than Mr. Johnson ever was. W e would coun sel then that all the young Southern Rights men who have been named for this post, get out of the way and give ; a clear field to Wellborn, and ihereby give a hearty earnest ot our sincerity in the good work of re-union, and put an everlastingextingui-her upon the clamor which the Con servative” Enquirer rabes to rebut it. We beg to repeat, that the Editor of this paper is not responsible for these sen timents and opinions. When he returns he can a, prove or repudiate them. Meantime, the wiiter, when he puts pen : to paper is in the habit of sayii g what he thinks and feels, i F. *The above communication was intended for last VVed netday’s issue, but was unavoidably crowded out. Public Meeting. Bald Hill, June 3d, 1653. j Pursuant to advertisement, a large number of the citi zens of the counties o! Muscogee, Stewart and Marion, met here in convention to-day, to consult upon the forma, tion ot a county to by compost and of contiguous parts of the above, and organised by electing the Rev. Stephen Par j ker, Pr sidciit, Thos. F. Wooldridge and Isaac N. Johnson Vice Presidents, and Wm. S. Johnson Seere. | tary. i On motion the President appointed Messrs. Wm. S. Johnson, A. McD.-ugale, J. P. Lowe, Wm. B. Harder* ! 80,1 and O. K. Gian ton, a commit tec to suggest matters j tor the action of the convention, who, by their chairman, made the following REPORT: In this nation the People are sovereign; and among their recognised and immutable rights is that of amending or repealing laws, and ot altering or subverting munici pal organizations whenever they are abortive, or in their operations prove to be burdensome, inconvenient, or in jurious to the communities afficted by them ;as well as to enact such new laws, and to create such new bodies politic as, Irom time to time, appearing the experience of the people to be essential for the presei vation and enjoyment of their “inalienable rights.” And whereas, our incorporation into the respective ; counties of Muscogee, Marion and Stewart, (while we I venerate their names, and are recommended abroad by our localities.) imposes burdens, and makes of us ex ictions 1 evidently grievous, oppressive, and not easily to be borne, i it is imper live upon us, the citizens of large portions of 1 those counties, as well tor our own immediate good, as j to discharge a philanthropic duty we owe to those who may l.ve here alter us, to urge such changes in our pres ent political regulations as are manifestly necessary to our : own prosperity, and their protection and convenience. Under these patiiotie considerations, be it jointly Resolved , That we will petition the next Legislature of Georgia to create a County, composed of contiguous parts of Muscogee, Stewart and Marion, with such area, boundaries and name as may hereafter be agreed upon by itsis convention, with all the rights, powers and im inunities of a polit cal and civic member of the State of Georgia ; and that we invite the fraternal co-opeiation of all the people of our respective counties. Resolved , That a committee of nine persons be appoint- ‘ ed by toe President to report to this convention at its next j session, (July 14ih, 1853, at Bald Hill,) proper and equf j table limits and boundary lint sto the proposed county, and that a committee of three be likewise appointed to re- j port at the same time a inemor ul, addressed to the next i Legislature of Georgia, uj>on which a petition shall be ‘ made. Resolved , That we earnestly request the respective presses in tiie aoove named counties to pu lish these proceedings. Alter the unanimous adoption of which, Col. A. Me I l)ouga!e made a speech in favor of the new countv, ! followed by Win. S. Johuson and 11. J. De Von ; soirif very sensible remarks were also made by Messrs. J. N. B thune, E .ward Buds ng, P. A. Clayton, B. J. Barber, 3"bt. C. Patterson and J. . McCook. The committees m ier the second resolution, are: On Boundary.—Wni. G. Wooldridge, Benj. Janes, il. Fuller, P. Ray, A. Hickey, John Cole,E. G. Raiford, D. R. Gianton and Hiram Albritan. On - Memorial-— Wm. S. Johnson, Rev. R. T. Webb i and Dr. IS. C. Hitchcock. On motion, the thanks of ihe convention were made to the members of “Mount Olive church” for the use ot ihcir house. The convention adjourned to meet on the 15th July next, but on account of a “G-neral meeting” to com rnencenn that day tit Antioch church, in the territory in terested, it is thought best that it convene on the 14th. jas published above. Presses requested above wiii please publish from Tin es & Sentinel. ! * STEPHEN PARKER, President. Wm. S. Johnson, Secretary. 1 Arrival of the Prometheus—More Gold. The steamer Prometheus arrived at New York on ! the 9th. She brings 400 passengers and about half a million dollars in geld. She is connected with the steamer Sierra Nevada, which left San Francisco on the evening of the 1 6th of Mav, with 537 passengers and $468,000 in gold on freight for New York. The New Orleans passengers crossed from ocean to ocean in the short space of 30 hours on the road. The sloop of war Cyane had left San Juan on the 21st for Havana. Hon. Henry 11. Jackson. We recently announced in our telegraphic col umn that this young and dis'inguished son of G ‘■•r gia had been appointed bv the President, charge and Affaires to the C >urt of Vienna. If ther is any thing unsuitable in the appointinent.it is, b; cause a full mis-ion ha-not been bestowed upon him; for. if we may judge of the future by the | be ter tpst car. we have 1) be would have Voire honor to h s native State, as well as to himself, bv the manner in which he would have discharged itsduties To say thm the citizens of our whole State, with sin gular unanimity, without regard to party, rejoice in this appointment, is simp’y to state a truth well known by all to he so. Judge Jackson has hardly yet reached the usual prime of life, being, we believe, not 33 years of age, but be has already tilled several important positions, and all with signal ability. In the war with Mexico, he commanded the Georgia Regiment, and made it the best disciplined Volunfeet corps in the army.— Since then, he has been the pre si ling Judge of this circuit, and has proved himself to be equal to any emergency—and no one can say with truth, that he has been wanting in every requisite tor the jurist and the Judge. N >vv lie Commences anew career —if the opportunity be given to him, un’e-s we greatlv mistake the man, he will earn as brilliant a reput tion as a diplomatist, as he has already done in every station he has adorned. We regret for the sake of our State, that we are to lose his services —even now his name is promi nently mentioned for the high pos of Governor of Georgia—but we hear and believe he has consented to accept the foreign appointment. We wish him health, honor and happiness and we are sure the democracy of our Stite will cordially join with us in these feeling, as we know they do, in satisfac tion that such an appointment has been made. [Sau. JV eics. The Atlanta Bank. We had an interview yesterday with Mr. S. C. Higginson, the President of his Institution ; and having copied an article on the 2 st u!t. from the t hronie'e 4* Sentinel, and heard many rumors tending to excite distrust and prejudice againstthe Bank and its managers, v\e felt it to be due to the public as well as to the corpora tors of the Bank to make such inquiries of Mr. Higginson as to its present condition and fu ture prospects, as would satisfy the public con fidence of the turnfire intention of the Direc tors to manage its affairs in strict accordance with its charter an&thp laws of the Siate. It is due to Mr. Higginson to say that his con versation, and answers to our inquiries were unreserved, and he gave us every assurance that the affairs of the Bank will be regulated according to the best and strictest rules of banking, and with reference to the public in terests. In addi ion to these assurances Mr. Hig in son exhibited to us a letter, o t recentdate. Irom the cashier of o e of the soundest banking institutions of the city of New York, to a bank officer in South Carolina, in which the writer states, that George ■’ mith, Esq. wt o is repre settled to be the principa stockholder in the Atlania l ank is estimated to be one of the wealthiest bankir> in ( hicago. From these represntations as well as from the known characters of the gentlemen in Georgia who applied for and obtained the charter of this Benk f om our Legislature, we hardly think ‘there is a deliberate design to use this Bank charter for fraudulent pur poses.” Mr. Higginson informs us, that the directois in tend to pursue a legitimate banking business at Allan a, and to furnish the business community of that place, with all reasonable monied facilities. If, ! It wever the business of that place will not require j all the circulation of the Bank,it is then the itnen- ; Mon of the directois, as it is their rig’t, and as all other Banks do, to send their Bills to Cli cag<>rto j any other point, where they have credit and where tneir circulation is likely to be wanted. The Ch i cago Banks, are required by Law to deposit State i stocks as security, tor the amount of their eircuJa- ! t on, and hence they a t ck the issue of other ins i j * utions whose ci dilation there, is based upon the j pers nal responsibility of the Stockholders only j Mr. H'gginson i- forms us further, that $111,(0 )of • capita! stock oi the Atlanta batik have been paid in, and the balance of $300,000 capital well be paid in as fast as wanted. ‘The bank has now in j its vault #52 00J in specie, which perhaps exceeds | the amount of its circulation; as, however, a state* - | mentof the affairs of this institution, will ,-honly be I published, we will i ot enter into further particulars, j In not eluding these statements we may be per- j | tniited to express the hope, tnat the affairs of this i institution may be managed in such a manner, as not to reflect injuriously upon the character of Ge rgia. Her Banking institutions never enjoyed, and deservedly so, a higher ctedit, nor were never more sound and flourishing that at present. In former times the confidence of our people has been dreadfully abused arid they have been shameful!* swindled by heartless speculations in Bmk charters. And no matter for what cause, nor with how littie reason, the failure of one of our Banks, casts s>.s pie ons and distrusts over the minds of the people, against ali other banks, an i thus our sohent insti 'utionsare made nnoeent sufferers, on account o’ ; the mi-m tnagemen of Banks with which they had , no conne.xto >. — Sac. Re u ’die. The Marine and Fi e Insurance Bank. —We iearn that Mr Edward Padelford. on Tuesday last, resigned the Presidency of this In titution, and that .or. Elias Re and has been elected his successor. Mr. I adelford has been the President of this Bank for the last fifteen years, during which time his administration has reflected the high est credi upon the insti ution honor upn himse f tor his skill and ability as a financier, and has been attended with manilest benefit and advantage to the stockholders. \o bnk ing institution in Georgia erij ysa larger share of the people’s confidence, than does th j Ma rine & tire Insurance Bank of Favannah. and no institution has more promptly paid large dividenus to its stockholders On the 7th inst. this Bank declared a dividend of nine per cent, for the past six months, rq ml to eighteen p r cent, per annum It will be grafi tying to the Stockhold rs to earn that Mr J\i delfbrd’s connection with the Bank cea-■ ; only in his official capacity as Presiden . Ur still letains a seat on the oard as a Director Judge Reed, who succeeds Mr. Padeiturd has been long and favorably kno n as one i our best cit.zens and most successful mer chants, and the public have every confi lenee in his ability to preserve the high credit and prosperous condition of the Bank— lSaJ{> [From the Spirit, of the South.] A Confession. We regard the move on the part of some of the quandatn Whigs in Columbus recently, i,, a public mee ing, as a confession, an open, pub lic confession, that ‘he whig party no burner exists. This has long been btdieved bv many, acknowledged by some, and acted upon as a fixed fact by others. For months all has been confusion in the old whig ranks, all consterna tion ami dismay among their leaders, while the hearts of many veterans upon the old battle fields of whig renown, have failed because of the fear of the sudden destruction which thev have felt inevitably awaits their party. We regard it as settled that the whig party. South at least, litis “shuffled off’its mortal coil /’ the recent eminent failure in convention at Montgomery to reorganize, is potent evidence of the fact. The meeting above alluded to in Columbus about the same time, *n which not the slightest allusion was made, not a word of eulogium pronounced, ora passing tribute of respect paid in memory of the once renowned old whig guard, is still strongercontirmation upon this point. Without apo.ogy or explanation, they unceremoniously doffed the name of wlim, and titled themselves the “Conservative paitv.” But what means this new name, this new mush room party ? Is another federal aggression con templated, are other attacks upon the rights of the South brewing for some future time? It must be so ; or why is this “Conservadve par ty/’ this marshalling of conservative, forces so early, to counsel and compel submission ? Such a party can have no other signification. What does a Conservative party mean? A party op posed to States Rights, and resistance to feder al usurpation. Can there be any need for such a party at present, except to prepare for such an other crisis as the recent infamous compromise measures occasioned ? “Conservatives/’ what use are they here, except, to counsel submission to aggression on our rights? At the Noith, such a party might have some pertinence ; here it has none. There, there is need of such a party to keep down ultraism in every shape; here, there is need of one, to stimulate to a proper appreciation of our rights, and to encourage a spirit to maintain them. A State Rights party is to preserve inviolate the rights of the States, from encroachments on the part of the general government ; a Conservative party, to justify and encourage them. But who so rabid as to clamor about State rights, when they are not infringed; and who, but a “conservative,” w ill or can oppose resistance to such infringement. A Conservative party, then, means a party opposed to State rights, and in favor of succum bing to any measure of feder.u! policy, however obnoxious to our section, or o\ir interests, It is said coming events east their shadows before them, and we can divine nothing in this new party move, save the foreshadowings ofcoming a ?g ression upon the South. We have confi dence in the present adminstration, however, and believe we are secure, at least for the pres ent. | For one reason we are glad to see this new party move. It will afford an opportunity lor all pure State tights men to quit the ranks of consolidationists and federalists, and range their instincts, their patriot ism and their interests prompt them to stand. — Let others unite and cal! themselves “Conserva tives,” it is upon a Southern and State tights party the South is to rely. Conservatives South and L'/traisfs North, in our judgment, seems reversing the proper order of things, and portends anything but good to the Sou'.h. Another Keported Official Defalcation. A Washington correspondent of the New Vmk I Tines s iys : “I’ is repot ted in high quartets that impojtant do ! velopement wilt soon he made, touching a finaue al i operation, by which the treasury has been made to bleed. The Democratic version of this sto ry is as follows : An Ohio man, named Mi nor, ob’aincd from Secretary Corwin upwmds of a year ago. a tnn-fer draft tin New York for the sum if #LK).OOO, Minor agreeing to (dace the amount in good hands in New Orients, within a specified time ; this he failed to do, alleging ih it the institution in which he deposited the imutey had Rule . Minor was r> commended to the Secreta'V as responsible and honorable by the President of a bank < r Insurance Company in Ohio, and several letleis in reia ion to him passed between Mr. Cor win and other parties. Five thousand do liars of tfie money have been recovered, but the balance, it is said, will be a total loss. It is hoped that the hue Secretary will explain, iu due time, the details ot this tiansaetion.” j The Rail Road —The subscription for the stock of the proposed rail road from Enfaul i connecting with the Mobile and Girard Road, ;is now being industriously circulated. We J learn tiiat a large amount has been already sub j seiibed, almost entirely in this place. No class of the community is so much interested in this great work as the planters, and if they will ex hibit tneir usual liberality, there is no doubt of success. ‘J he time has come when we must either secure such a connection, or forever abandon all hope, and prepare ourselves as best we may for the certain decay that awaits us.— Let every man then subscribe to the extent of his ability. He will thus not only advance his own interests, and those of Ids neighbors, hut will also substantially aid the progress of civili zation and general prospeiity.— Spirit of tl> e South. Ao Rain j el. —We are on the tenth week nt drought. One or two slight showers have Id leu in the city, but one mile off, at nurr sid -nee, we have not liau rain enough to wet a silk handkerchief in ten iceeks , and trie prospect does not brighten. The vegetables we havee t en had no rain upon them since tho seed was planted. Corn and cotton in our neighborhood ire absolutely too gloomy to speak ot much less to look at. With good rains we can’t make a half crop. —Federal Union 14 th inst.