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I * bond.basbCen giveii bv’ tl?o deceaseJ , tke futl'spact
af thrrr. months. #■: - * - . -it - •
Publications wilHttways be continued according to
theia requirements, qnless otherwis^rdcrcd.
AH business ‘in the .line of Printing will meet
with prcmi.t at Ihp I! KroitTKß Of['lVk.
*•**• S/Rml. A William MrALen do..,
ATTORNEYS AT LAW,
TjioMAsnLhE, cEortarm “
.a .qctl4... - . ‘■■■'.■ ■ -nt wey
It viiitt <* is i;v\ kt,
* ATTORNEYJf AW,
TrojtpcUje, Lowndes Cos,, (Ja.
SAMVEL I*. SPENCER,
v . attorney at law,
V* THOMA.SVn.LK, OKOKOIA.
Itfi giro his ejritire attention to -the practice of
lv#Wf iidthe rtjirhiUtlo* of the s ’'Southern Circuit.—
Oflhte o'n the second floor of D. & K. McLchii’s
brick building. _ .(jnli2ooy
I ;3|#’ T JE. P. lIOKOAN,
ATTORNEY AT LAW,
- mu&u*mr.r., frr.oiiom.
WTLL practice in the counties of the Southern Cir
ettit,and the counties of Dooly, Wcyrtb and Dongle
erty *f the Macon, and Ooffee.CTiru-h and Ware
o,f the Brunswick Circuits.
Flst'Craok, On.. Oct. 7. ff
* Wmwyfflm&A tin 11,
Allornev and Counsellor at Law,
AND SOLICITOR IN CHANCERY,
LTOMAsni.EE, gf.okgYa.
I w WILT, practice his profession in the Courts of
South-western Heoi-gin, nhd speciallv in the'eounties
.if Isovndcs, Thomas, Decatur slid Baker.
<W9—tf
I>r. Will. 11. IIALL,
TEXDERS his Professional services to the citizens
o£ Thyiuasyillerud viemity—llesulence, the house
formerly occupied by A. 11. Tfansell —Office', next
door below. . : ‘ ‘** [npr22]
Br. SAHUEIs . WILLIAMS,
IIAVIXC, inchtcil in Tlinmesville. respectfully,.ten
ders his professional services to the citizens of
Thomnsville and vicinity , tie may be fnmiVl at the
OfflCf, of.Drl~y, 8. Adams. [netlfloy
OTFKbS’w? PribSS MdroDs thfJitSfe^
£ jt®horoaville and vicinity. Calls at all hours
promptly attended to. (fcbStf
Dr**. Il'. 11. A IN O. AKAOLD,
* . iaaQBBSMY ©SMITOWS,
■Li a.
lil-sill.'llt-
I
•wned bv persons gs ft diltniicc for a fair HtTnnpnKn
*** r , ~
’ all, our thanks are
blest it in time past, Since the adjournment
of
period, our manufacturing, mineral, and me
chanical occupations have largely partaken
of the general prosperity. * VVe have pos
sessed all the elements of material wealth in
rich abundance, and yet, notwithstanding all
these advantages, our eotihtry in its moneta
ry interests, is At the present moment in a de
plorable condition. In the midst of, nnftp-:
passed plenty in all the productions of agri
cnlture, and in all the elements of national
wealth, we fiiid our manufactures suspended,
our public works retarded, our private enter
prise of different kinds abandoned, and
thousands of'useful laborers thrown out ol
employment and redtreed to want. The rev
enue of the government, .which'is ehiefly de
rived from duties on imports IVom abroad, has
been greatly reduced whilst the appropria
tions made by Congress at its last session for
the current fiscal year are very hirge irt
amount.
he,fir& tircioir of - °z ra
session but this, altlidugii deeply th be re
gretted, would prove, to be billy a blight ntis
fortutre when compared with the. sufTeryig
and distress prevailing among the. people.—
With this the Uoveripncttt cannot fail deeply
to sympathise, though k may l>e without the
power to extend relief.
It is our duty to inquire what has pro
duced snch unfortunate results, and whether
•their recurrence can be prevented ? In nil
former revulsions the blame might have been
fairly attributed to of cooperating
causes,but not so upon the present condition.
It is apparent that our existing misfortunes
have proceeded solely from our extravagant
and vicious system of paper currency and
bank credits,exciting the people to wild spec
ulations and gambling in stocks. These re
vulsions must continue to recur at successive
intervals so long as the amount of the paper
currency and hank loans and discounts of the
country shall fees left to the discrelion-of four
teen hundred irresponsible banking institu
tions, which from the very law of their na
ture will consult the interest of their stock
holders rather than the public welfare.
Thefriftiers of the constitution,when they
gave to Congress the power to coin “ money
and to regulate the value thereof,” and pro
hibited the States from coiningmoney,omitting
bills of credit or .era king any but gold andsilver
coin a tender in payment of debts,* supposed
tlicfy have protected the people against the
evils of an excessive and'lrredeemable paper
cuTreney. They are not respob.sible For one
existing.anpnialy flint a government endowed
with,the sovereign attribute df Coining money
and regulating the value thereof shonid have
no power to jirevent otheir from driving
this coin out of the country and filling np
tlte .••channels,of circulation with paper wldeli
does not represent gold and silver,
It is one of the higUest and most responsi
ble duties of {government to insure to the
people a sonndi circnlafing mediutn, the
aroonnt'of which ought to be adapted with
the utmost possible wisdom and skill to the
wants of internal trade and foreign exchan
ges. If this tm either greatly, above or
greatjy below the proper standard the mar
ketable value'of every man’s properfyjSs?np.j
creased or diminishe(|Lmthe same propeftion,
and injfktico to indivicraals as well as incalcu
lalde evils to the community are tbo conse-<
qnence. vw*
cipn power (if paper ctirrrnry,
wuicn can gu&ru iiic puoiic 3 0 nin?t over., is*
1 n I ‘ Y i
rcfciiMico to tlj6 6D6C10 rcQiurcu to redeem
■ .7i TF• • J v . *"_ ■ v -p t Z’lZ’ 1 J. .. ,-.C t *'. ■ fO :.v a- _-A w J_
•••w'-’ ... • ‘ias: *> . ‘•/ ...— iefhtt! ...” . .M 0 ‘ }:*- &Lj4' , A.E. ‘•.* .te/rJLfii -.5
consequence ? In a recent report made by
half, in 18d7 it does not amount to one dol
larforevery six dollars and thirty-three cents
of their capital. In the year 1 1848 the spe'-
cieHvas equal within a very small fraction to
oue dollar in five to their circulation and de
posites; in not equal to one dollar
in seven and a half of their circulation and
deposites.
Erom this statement it is easy to account
for our financial history for tlife last forty
“years. It has been a history, of extravagant
expansions in the business of the country,
followed by ruinous contractions.’ At suc
cessful intervals the best and most enterpris
ing men have been tempted to their ruin by
excessive bank loans of mere paper'ciedit,
exciting them db extravagant importations of
foreign goods, wild speculations, arid rurtTmfs
and demoralizing’ stock gambling. When
.the crisis Arrives, as arrive it must, the hanks
can extend no relief to the people. , In a
vain struggle to rodeem their- liabilities In
specie they contract their
loans and their Aitucs; apiast.Jn the hour of
tneir assistance is most need
ed, they and their debtors together siuk iuto
insolvency. ” ‘
It ih.,tliis paper system of extravagant ex
pansion, raising the nominal price of every
article far beyond its rfcal value, when com
pared with tlie cost of similar atticles in coun
tries whose circulation is wisely regulated,
which has-prevented us from competing in
our own markets with foreign manufacturers,
has produced extravagant importations, ami
has counteracted the effect of the large inci
dental prodnetion afforded to our domestic
manufactures by the present revenue tariff.
But for this the branches of our manufac
tures composed on raw materials, the pro
duction of our own country—such as cotton,
irdb, and woolen fabrics—would not only
h v e u i fed a (most exclmi vc possession of
Deplorable, however, as may he our pres
'ent fmancitdjCondifion, we may yet indulge
i.i hriglit lußßs for the future. No “other na
tion has ever existed which eould have en
dursd such violent expansions and contrac
tions of,paper credits without lasting injury ;
yet thy buoyancy of youth, the energies of
our population, and the spirit ’ which never
lation, ana mateuaiiy assist in n
• t • “i ’ r ‘ | il ‘ f j
rnonctfiry nffftirs* & cc ‘■ s-• ■ :
kX7*mD, fltl Pnifft WftJ BRUIO &y IHO UallK OI
Lll'i ll sill lt , rt ‘ g a a—
r If
.1 • ’ ,* • 1 A • j I I | J ,
* * l , r a |
such provisions, with n* weekly publication
by each bank of a statement of the condi
tion, would go far to secure us agaipst future
suspensions of specie payments.
‘.Congress, ill my opinion, possesses the
power to.pass a uniform bankrupt law appli
cable to all banking institutions throughout
the United States, and I strongly recommend
its exercise. This would make it the irre
versible organic law of each bank's existence,
that a suspension ol specie payments shall
produce its civil death. The instinct of self
p'fijServigfii wauld then compefKSPperfcriri
ita duties in such a manner as to* escape :,the
penalty and preserve its life. .. .rfSteyT
The existence of banks and the circula
tion of bank paper are so Identified'with the
habits of our people, that fhey can nut at
this day be suddenly abolished witnout such
immediate injury to the country, ff w*
could confine them to their Appropriate sphere
and prevent-them from administering to the
spirit of wild and reckless speculation by ex
travagant loans and issetteß, they migftt’ be
continued with advantage to the public.
But this i say, after long andv much re
flection; if experience shall prove it to be
impossible to enjoy the.facilities which well
regulated banks might’ afford, without at the
satuc time suffering the calamities d’hleh the
excesses of the banks have hitherto inflicted
upon the counfry w<mld then far the
anddisconnt.
**••./ • , •
It is unnoeesnry to stale in detail tbealarm
i|ig condition of of Kansals at the
tieal inomeiiLKanwisVa*’ left wu’hout a tlov
ernoi by the resignation of Governor.
Oil the 10th of February previous, her
territorial legislature had pasgffd a law provid
ing for the election of delegates on th.o third
Monday of, Jung, to a convention to meet on
the first Monday of Seuiptember, for the pur
pose of-fiatriing a Cmistitution'iit' t ’P nra tory to
odmisßloii iipii, the, union. This law was in
thoniani faiiv and just; and it is to be Vre-
That all t qualified electors had’ not
® ♦ \ c v
_• * ■ ”'r A a this wns tlm milv
forent sentiments ioav receive majorities'sut
* I J i A ■ “ |
• M i* r, tf * lnotro a lon o m
. .i • q*. i .1 1 1 “ ** |j *i
ficiently powerful to induce him to disregard
the will of his constitutentSj The troth ,
exists of ascertaining the will of a majority
an important and exciting question like that
of slavery in Kinisaa,, except by leaving
it to a direct vote. BUdw wise, then, was it,
for Congress to pass overall subordinates and
triple o out 1 tee lijstitutioii lad then
-. . • a • * t* • •
vr it It the >♦- • -.v-*. .
X he convention proceeded to zriime ft con-
dlnet'iVom'inltUutioLa ‘ o* 7^
The convention, after angry and excited
t two nity - delegates i present affixed thair
signatures to the constitution,
A largo majority of the convention were
to those which lutd fc-.'Sen adopted.bv either
territorial i-onveitiinn,* r ,u„
however, providing for the transition
terjitorial to*a State government, the *
|| Tc
thc convention * tkmgrJs
for admisi ion into the Uuion as a State,” an
election shall be held to decide tins duertkm
St which all the male^inhabitants of thT tqr,
ritory above the age of 21 are entitled to
vote, They are to vote by ballot: and the
bullets cart at said election shall be endorsed
’ constitution with slavery, 1 and ‘constitution
with ho slavery.*’ If there be majority in
favor of the “ constitution with slavery.”
then it is to be transmited to Congress by
the president of the convention ia its original
form, if on the contrary, there altall he a
majority in favor of the “ institution with
no slavery,” “ then tho article providing for
slavery shall be stricken from the eoiwtitu
dion by the president of this convention,”
exist iuWritate of Kansas, execmT2mUfa!e
right of property in slaves now in the Terri -
tory shall iu no tnaner
and in that event it is inade hisdufy have the
constitution thus ratified transmitted to -the
Congress of the United States for the admis
sion of the Statd into the anion,
At this election every citizen will have an
opportunity of expressing his opinion bv his
vote “ wlißlher Kansas shan Be iwieiybd into
lire Union with or without slavery,” and thus
!cl <J HW. Ul Tho2ect?o d n wTEt^lP^e?to
gitiinete authority, and if any portion of the
: inhabitants shall refuse to vote, a (air oppor*
rSeSSSaSr
Whotber Kansas shaft boa free jjp/Jt slave
.State must eventually, undgr somejmtbority
lie decided by an election; and the question
can never be more eleia[Hy o* jw|-
sonted to the people tlianjt is atpreseutmo
ment. Should this opportunity be roi
she may beinvolvedtorveersitf domesticdi
tendered, and again teach .tbe point abo baa
already attained. *t f
Kansas liai for some years, occupied to °
rirach of the public attention. It is btgbtime
that this should be directed to fer more im
portant objects. When once admitted into
the Union, whether wither without slavery
the excitement beyond her own limit# will
speedily pass awajr, *p&fec * ill.ihcn for the
firpt time be loft, as she ought, to |ayf w^n
own way. If her Coastitution on the subject
oft’ slavery or on any ether subject, be dw
man power can prevent thomjfrom cb?ngtfß<|
Kapi%is
‘!olir f iTf^Uber^S
Should the Constitution without stattty ha
adopted bjt tho vote# of the tnjr pmt y dh o
ry are preserved. The number nf them shffiß
I’bftstr slaves are brought into tlio Terpttrty
undo* the Constitution of the Unjtfd States.
l®” f Wirnrr*
tion. To have ■summarily couttscwaii .tlte