Below is the OCR text representation for this newspapers page.

J 4 ~ a ... V-tMI .a ‘ ‘ I 4 .4 A \ *l* fa j fl| I -< y*| H j flB f H j 9 I (Bk H H M M/ | ■ ■ | B ■ H jBL-"’ tWL ]JP J\ ■ m ‘I il j b| a—yß IB i 1 |B iB ■ B B ‘ fl |B ‘■.••■"* | H j j B fl I B 1 b (I B fl (IW 19 I!B - !B_JB Isl jfl <fl tB IB >• 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