Newspaper Page Text
UtMe Smmmtrj of” tta.
—i ■ =s3Sjjjp * ■ =:
ITOID***P
A man named Hickey, was most brutally
murdered Thursday night last near the rail
road and about a mile from the city of Ma
con. The deceased was a boiler-maker by
and formerly worked in this city at
the foundry of A. N. Miller <fc Cos., Being
ou t of employme.nt he left here about three
weeks ago for Macon, and ou arriving there
obtained a shop which he
had (previously worked in. On the night
’ a bovo mentioned, having been invited by a
friend to spend Christmas with lam. he start
ed fa* that place, which was afiout a mile
distant, an on returning the supposition is
that he was waylaid en the road, and mur
dered. On examination of the body, it was
found that he had received five severe stabs
His body was brought to this city Saturday
night and intered yesterday. The deceased
man aird tenvs a j
“wife and two small children to mourn bis
loss. —Stuannk Georgian.
sale of county bonds.
and Jvffe.rson bonds with the coupons
attached sold in this city at public out-cry on !
Saturday from 90c to 90Jc in the dollar, j
the sole thus made we suppose may be con- \
sidered as a fair test of tbe value of these i
securities, nud establishingfor them a market ;
price. All that were offered—some thirty- j
six thousand dollars in bonds, sold readly at :
the foregoing prices.
The bonds bear eight per cent interest
payable annually, and principal of the Leon
bonds, sold, becomes due in 1866, and prior
to that date. A portion of the Jefferson bonds
do not fall duo until 1857. Purchasers, we
belive generaly prefered those having the
longest time to run—thus showing entire j
confidence in the security.— Thalluhassti \
I'toradian.
THE SOUTHERN UNIVERSITY.
The. Mobile Tribune says: We have al
ready stated that Col. Isaac Groom, of
Greensboro, 1 in this State, made a donation
of $25,000 to endow a professorship in the
newly proposed Southern University. That
does not exactly explain the” gift which is
S2OOO a year during the life-time of the Col.,
and $25,000 at his death.
It is stated that Dr. Warren, of N. C., has
subscribed $25,000, and Col. John Armfield,
of Warren county, has engaged to give
$25,000 per annum during his life.
These liberal gifts would seem to imply j
that the University will be started with am-j
pic means.
SALE OF NEGRO PROPERTY.
On the sth wist., Cicero A. Tharp, Esq
sold at public outcry in Macon a large lot of j
negroes belonging to.the estate of BerijT May
and Leßov McManus. They were bought i
principally by citizens of the count}-,and most i
of them sold at very high figures. For in
stance. a mail aged 26 years, sold for $1400:
another aged 23, for. $1351, and an other of
the same age for $1,195. A boy ten years !
old sold for $985, anil a girl of about the j
same age for SBSO A woman 19 years of age
brought $1351, and another aged 16 brought
$1356. A man of 52 years sold for SIOOS,
and the rest at corresponding rates. These
prices by no means indicates the “hard times”
so much complained of. —Slate Pres*:
Nathaniel E. Stanton, who left Providence
R. 1., nearly two years ago, on board the
Mary E. Smith, for Orleans, by the way of
Montevideo, is now, with severaUothers. who
took passage with him, serving out a life sen
tence in a Brazilian Penitentiary—the vescl
having turned ouj to be a slaver. Mr, Stan
ton and others having been compelled to as
sist in taking a cargo of slaves from the coasi
of Africa, and having-becnWized, with the
resel. by a Brazalian inan-rif-war,the United
States consul has interested himself for the
release Mr Stanton and tl/e other passengers.
NEWS FROM SOUTH FLORIDA.
A rumor has reached this city* that Lieut 1
Col Hardee, with a sniall detachment of men ‘
the Big Cypress about the 15th „ult. ;
The command carried with them only six J
days provision, and had not returned lip to!
the 25th. The delay had excited ntiprc- ]
hension and alarm, and troops had been sent
in pursuit. • j
We also learn from Dr. Branch of Tampa,
who was here a few days.since, that the'Tin
ted States Mail boat on her passage from Ft.
Myers to Tampa, was capsized in the bay of
Tampa. No lives lost. Capt Kilbuni pf
the army was on board, and floated several
honrs in the water before reaching terra Jir
fna~~-fHinu3 only his hat and boots
SHIPMENT OF IRISH GIRLS.
The British Government is shipping Irish
Girls to the Cape of'Good Hope ns a means
of preventing its own colonists from relapsing
into barbarism. A party of three hundred
andfi sty have n’rjady sailed, and another
company of three hundred and fifty is soon to
be forwarded—all described as healthy and
good looking. They go with the under
standing that matrimony is to reward their
•expatriation. “
* melancholy casualty—seven men killed .
We learn that a terrible accident occurcd
on briday night last about twelve o’clock yit
the Iron Furnace of the Hon. MriokXA.
„ Cooper in Cass county. (ly the destruction j
of a roller in one of the furnaces,
were so severely scalded with the molten mo-4
tal that their recovery was considered impos- 1
Rut one of I hem werewhite men.—- 1
Atlanta Inteligcn err.
, - NOTHING^DRY ABOUT THAT BOAT. * j
The Ocean Spray is the name ofa boat that
recently came down the riyer from St. Louis
to Memphis with four dimijohns and one cask
of. Liquor, thirty-six barrels of whiskey,
three barrels arid a half of brandy, aud a (
hundred and fifty-two barrels lof lager Beer.
LOS* IN COTTON.
Senator Garlinton of South Carolina esti
mates the loss maintained by the South from
the depression of the market for cotton, in
consequence of the late commercial crisis at
more than $70,000,000. j . • ~
A marble bustiof the Hon. J. L. Peligru,
executed by Galt, the celebrated artist, has,
reached Charleston. ,
h . • _ ■, /
— =
LATE FROM EUROPE.
Arrival oF trbtbamrr
HORTH AMERICA.
Ke , , , AtTjT —r“
Cotton Advancing—Monty lain in London—Con sola
Improving— Belief of lockasw Folly Confirmed /
Portland, Maine, Jan 14. —The Mon
treal Ocean Steam company's steamship:
: North America, with Liverpool dates to
j Wednesday, December 30tb, has arrived.
- ■
Commercial. T
Lircrpool Market a—The Sales of cotton
on Monday and Tuesday reached 17,000
: bales of which speculators took 4,000 and
I exporters 1,000 liales, leaving the trade 12,-1
000 bales,. All qualities bad slightly ad
vanced, and the lower qualticg the most. The
market exibits ail improvement of Jd., and
closed firm. * 4
Mancha ter Trade. —The manufacturing
districts was favorable, and abetter feeling
wiis-jrpprrrenTr : r~~ f
( London. Money Market. —Money ami con.
i sols had advanced and were quoted at 93j
a9l oti account. r .
(second dispatchJ
I At Liverpool Flour was very dull and had
idefcilned 6d. to Is. W boat was firm. Corn
j dull and unchanged, and Rosin quoted at Zs/
. General News.
The North America reached Liverpool on
the 2Stli of December.
There is a good prospect of a further reduc
tion of the rates of discount by the Bank
of England.’
La n I Hi irrowby will he succeded in the
British Ministry by Lord Oiarincarde.
The relief of Lucknow is fully confirmed.
The slaughter of the rebels is great.
The. United States steamer Minnesota,
with Win. 13. Reed, the American Cominis
sioneijjiad reaches Hong Kong.
•Speedy operations against Canton Were
progressing.
It is stated that all the exiled Generals
have had unconditional permission granted to
-tlretir-to return to France. r ...
The steamer Sarah Sands had been nearly
destroyed by fire. She succeeded in reaching
Mauritas with troops.
V’ THE FLORIDA INDIANS.
New Orleans,.Jan. Bth. A delegation of
Creeks and Semiuoles has arrived here on
their way to Florida, with the view of indu
: ring Billy Bowlegs to emigrate to the West.
i • L-r
The Madison Messenger of the 9tlr inst.,
states that a letter had been retrieved from
Captain Willard, in which he says it was
thought Captaia.n Cone and Iris command
were taken prisoners", by the Indians and
that a large, force was preparing to go to the
rescue. —Thall rhasnee Scutinel.
! ;
Afer all the talk about the immense value
jof Fremont’s Mariposa grant, it is about be
, ing sold fir unpaid taxes, amounting to $723-
|*>°- .
i— THE NE3RO STEALING GANG.
”
The Pensacola Gazette of the 12th ult„
says :
“ In onr last we stated there were then
five men confined in jail for the crime of ne
gro stealing. Since that time the number
lift* increased to eight. It is a sad thing in
deed, (hat respectable men of sound under- 1
standing,"should degrade thenselves, as these
men hate done. They are nearly all, we!
learn, men of families, and seemed to’ have
been in good circumstances, before the
•thought of crime had taken possession of
them. For our part we cannot help feeling
the deepest regret that human beings, made !
in, the image of their Creator, and gifted as !
all of them are, with at least good common
sense, should throw such a shadow on the
country ns they naturally will do, to sav noth
ing of their immediate families and friends,
who in nstsu ffc r dee ply indeed, even more’ so
| than the prisoners themselves
From the Weekly Press.
ALL RIGHT.
Twaßjust about a week ago >.
1 walked to tdiiikesvillo through the snow !
What took me there I'd like to know,
j ■ - ~ s ‘ “ •
‘Twas Sunday arternoon. It froze: - • ~
The vyind blew gales—l blew my-nose
A hundred times, as I suppose!
At length I reached Squire Gibbins’ door
I knocked* mv heart and feet were sore:
• . **? — — 1 “tr— : |
“Come in i” I soon was on the floor.
Tiout4i'iM>'eW.k-thc. fire shone-bright; * .
S u. hid'tho candles outer sight;
The Squire lit hid us “good night.”
We sat aud both looked at the fire—
i.thoiigljt about her dml, the Squire,*
And drew uiy cheer a leetle uigber!
My heart heat kinder fust, I swow J ‘
Tie’ll thinks, says I, the time is note; ~—
I’ll pop tiic question anyhow.
I never did the thing before,
Aud, though the walk had made them sore,
I piled my kuaa-jfnts on the floor!
a J spoke and said, says I. “ Dear Sal,
You always was a handsome gal:
Will you be mine ? now say you shall 1
She blushed ns she looked down at ine,
j ‘ And then she laughed a low -‘ tee heo;”
“ Now don’t, now do git up” says she.
I did. TTie logs kept burning bright. ,
1 don’t know how we passed the uight;
j but never mind—the thing’s Alb right !
At I'RED PKNNYSON.
I Snakf.svh.i.e, New Year'?, 1858.
SINGULAR INCHJENT—A PORTABLE LIGHTNING
I BOD.
A person residing in the2otli Ward has ex
hibited the strangest phase of mono mania
out. Although sane, and accounted a man of
j strong sense upon other subjects, he has not
ventufed uilo the streets for many weeks, du
! ring afraiu storm, without a lightning rod at
tached to liirri.. It is-'an iron rod about five
feet in length, with a trio of prongs at the
top, and so bent that it hangs or sits upon
the crown of liia hat, where it is fastened,,
with the upper end rising some ten inches
above him, aud the rod running down Iris
back outside, being held in its place by ai
band About Iris waist. The lower end stands
ouT at an angle or forty degrees, like a mon-’
key’s tail, sri gs to corivey tlieTstfectric fluid
.some distance should he be struck whilei
walking,-—.g\Vr York fyaily Nncs. _ .
“* Wk ‘ - •* r- ‘ f
THE HAYOB’S MESSAGE.
Gentlemen of the Council: in m
In taking leave bf you, allow me to retnm
to you my hearty acknowledgements for till
very efficient assistance you have’ during my
administration, under all circumstances and
at all times afforded me, alto, for the faithful,
fearless, honorable and able nr liner in which
you have acquitted yourselves a* councilman.
Through the year which has closed we have
mutually labored for the benefit of our thri
ving little cimnunity. Thrcatning clouds
have hovered over us, and perplexing diffi
culties have beset and embarrassed us, yet in
all our councils and consultations, harmony \
and concord have ever prevailed.
| Borne of your proceedings may have occa.;
sioned temporary dissatisfaction, but the ben-!
etidal results therefrom have been sufficient- 1
ly pa pa'ric, I trust, to satisfy evry reefleting;
1 mind/ The removal of the Horse-racks from j
the principal street of the town, and the re
erection of the same’on the Jail square crea-
Ttcl-fbr ‘a gtroiT tirne amsiTg- ceartaitr of oDr
country friends, a degree of unnecessary indig
naiion, some traces of which may be still dis
■ coverable.
Os the propriety of this measure the peo
ple of the town are the proper judges. Let
onr countryTriends trust in their charity, their
h,(meaty, their judgement* —■ “•’ - j
“* I'would earnestly recommend to the sue-1
ceedng Board to repair and put in proper !
condition the public Cemetry Wihich has been
recently lelinquished to the Souncil by the
Honorable Inferior Court.
Also, tile removeal of the Market House
from Main street, and to construct, over said
Market House a Guard Room as a umre
suitable and appropriate prison for violators
of the Ordiriaces, than the common Jail of
the county. But for the heavy draft on the
! Treasury, resulting from the dire pestilence
which threatened our community, early ...in
the past year, these improvements would:
have been undertakan by the present Coun- :
I‘ • |
I would further recommend that the town
I Charter he republished, w tli the ainetvlmen.s
recently enacted, and the most important
Ordinances. „
J I-herewith submit the Accunt Current of
the Treasurer, examined ami approved by
the Committee on Finances.
Wm. L. Holland.
Thomasville, Jan. 9, 1858.
, G. A. DEKLE, TREASURER,
In account teilh Ou Town of 7 homasrdlt.
Dr. 1857.
Feb. 7, To cash received from A. J Bul
loch. former Treasurer, $5 )9 62
| Dec. 31, Amount collected lor Fines, 276 20
,1 Amount received for Lisenseg,..,. 582 00
Amount received for old Harness,. 4 00
Amount received lor ‘Taxes 927 34
1 L Amount received for work done for
Jauies A. McLendon 6 00
Amount received for wood 2 50
’ i .. $2,107 66
’ 1858 <
Jan. 1, To balance.. 459 18
Cr. 1857.
. Dec. 31- By cash paid for Small Box cases
ns per vovehers $462 47
By cash paid for Market 8e11..... 76 77
! By cash paid for cleaning Wells.. II 15
By cash paid Dixon Carroll for hire
of horse and cart 5 months 31 25
By cash paid H. W. Sharped store
! account 86
By cash paid Dixon Cat roll, feed
of mule 2.1 OfL
By cash paid for Marshal’s salary.. 4. 0 00 •
By ,eash paid for Clerk Jt Trensur
salary .... 151 00
Bv cash paid O. A. Dekle, costs.. 25 0]
By easli paid 6. A. Dekle, eoinmis
sion far collecting Taxe5,5927.34
at five per cent --- • - 46 36
By o aalj paid for hire of street hands 275 On
By (’mall paid for rent of r00m..,.. 30 (HI
• By cash paid T. J. Lightlbot <& Cos. “ 2 75
By ainoimt of Taxes uncollected,
charged to Treasurer, the parties
J liojding accounts against the .
Town Council 17 Os,
By notes and cash 459 18
sl,l * 66
G. A. DEKI-E; Treasurer.
Examined and approvediiy
’ J Alt Kb EVEKITT, ) ...
JAB- a. .McLendon, > vj “ ian . c *
*’• AV. H. HALL, ) Committee
- WISE LEGISLATION.
; -JJur last legislature. .passoJ an act, by
which all persons, “ who have not their ac
tual domed in this State for two yerifsT
are prohibited from taking or killing any
game or catching any fish, on penalty of a
fine, from one to two hundred dollars, or from
one to three, months imprisonment. Now a
man can come here, and vote at six months,
and cannot kill a dock or a squire! in two
years. He is compelled to pay taxes/ and
have not thepriviledge to catch a possum, He
. itfcyceil to do militia duty .hut lias not the lib
erty to shoot a snipe or robin, He may buy
ten thousand'acres ol land, where lio cannot
catch a fish or shoot a rabit-. *■’
Fiom the Richmond South.
SIGHT-SEEING IN WABHIGTON.
Washington has for the last fortnight been
full of sight seers of adages, sexes, and condi
tions “the beauty and fashiou”(as the penny
n-liirei-s say) of the country arc of course rep
resented here, in the biggest iioops and in the
highest feather. Then there are. all sorts of
other persons; all sorts of distinguished
strangers, with any number of duplicates
of Baron Borrow Sixpence; all sorts of lobby
cormorants, sporting-men, faro-dealers, ropers
in, and pick pockets; all sort of people from
| the rural districts; all sorts of plain farmers
with smash-drinking and smashing young
hoys, and green gawky gills—all come” heae
|to make their most out of the mysteries of
i the “ Washington season.”
The females, all, must trikq a turn at the.
distinguished men of the nation, befrire ’see
ing anything else. Old Buck? with Ids big
head (which, he wouldn’t let Professor Fowler
examine,) his atnible leer, and Iris little legs
set back and planted so firmly beneath
: a large corporation/—every inch a bachelor
—is the especial object of their admira
tion.
Next they take a dash to the gallery of
the Senate Chamber. They are not over
pleased, however with the contrast which
this plain chamber, in which are aasembled
(he wisdom and” dignity of ihe Sovereign
States of the Union presents to the Hall of
the popular branch of Congress with its splen
did gauds, its display <tf gilt ond vejvet, and
; ita tri clored gpitooris,in the midst of all which
magnificence the beetloJieaded, tigerdigliting
member from the backwoods enjoys himself
so hugely, lolling, squirting tobacco juice
t over the splendid carpets,snapping to his pages
and calling out with savage wantonness, Mr.
I’ - < - . v ,
■ - 1
Speak-her, Mi. Speah-her-r-r, when he
jpiowa very well he has nothing to say.—
The members of the House, too, pay more
attention to the galeriesAnd they value much
higher the approving smiles in that quarter
than the staid Senators do who actually sit
with their backs to the fairer portion of their
audience.'The hyfalutin member from blanks
rolls ills eye in a fine frensy from floor to
gallery, when he speaks of the glorious Un
ion, or of his devotion to his constitutents, or
of his ideas of duty to his political Mamma.
And when lie takes hit seat, he invariably
looks up to catch the approving smiles of
! tlio fair dames to whom he lias been show
| ing off. - .*
But we shall find some of the distinguished
, men of the nation here, too. That old mart
eloquent, dressed so modestly in that plain
suit of grey, with bis simple, gentle manners,
Iris soft voice and those kind, brave eyes, is
well distinguished for all lime among the pa
triots of the republic, He is Gen. Quitman
of Mississippi. There is Stephns, too—a
little sickly,l ow -h ro wod,” sand - h 111 ‘cracker” ■
—the volcanic fires of whose genius seemed,
to be binning out his life. Then that mnn of
quick brilinnt action, w!h> speaks with such
careless ease, and rs if it were itnposiblc for
him to use any thing but jthe most graceful
and eloquent language, is the galltffft Keitt,
! of the ever-glnrious Btate of South Carolina.
Then there ure others too, but of lessor
i note..
! The Senate Chamber vastly disappoints
the visitor who has just passed from the glit
ter and show o f the. lower House. A stolid
indifferencc'to the outsiders, or a ,
conceit, sits on the countenance of
Senators, kludge Douglas seems busy -li'ttiifl
ling |nboiit wire-pulling and fidgeting on
the Kansas question to have an eye for any
thing else, or even to Admit hi lifa mind an
unpolitical thought for a moment. Then the
neat distinguished Senator who is pointed
out to you, Mr. Hunter is the very picture of
a Virginian—plain, solid, slow, with an ap
; pearanec’'Tif r, ®aFetesneKH that would never
! lend one to suspect in him the gifts of one of
| the most extraordinary minds in the,(country.
But one figure head iu the chamber arrests
j attention in the picture we have here of the
plain-looking,- substantial, better -order of
American Politicians. It is that of a large,
tall Senator, who sits near the main entrance.
His posture is one of the most inirnat'tble
conceit, with his head raised, his eyes eleva
ted ajid resting on a pleasant vacancy, his
body turned superciliously away from the
neighboring Senators, and without even the
least sign of attention to betray his consid
erration for anything that is passing around
him. Tlii9 huge coxcob, with hishair so
| tenderly parted, and his big white hands
so constantly engaged in stroking himself,
still smiling and talking to the lickspittles
that surround hint, is that pampered, ken
marked him hound Charles Sumner. An
application to the hide would take out the
I lofty airs of martyHom lie affects ; it would
i purge the concict inirriedintealy. It is h fair
j bet for any one to take,that is at the first stroke
j of the lash the hound would take refuge under
his desk and lav/tliere veluiuufor mcicv.
IX ION.
GOV. BROWN S VETO MESSAGE.
EXECUTIVE DEPARTMENT, \
< Millkdgeville, Dec. 22d, 1857. j
frONI'LI'DED. |
1 ! To the Smatr :
’ j v ßut an appeal is made by the friends of
! tiie people, and it is said that the hanks owe
the people only $5,000,000, or in other words
j have only that amount of circulation, and
that the people owe the hanks $22,900,000,
over four time as much as the banks owe to
the people. It this be so, it is a most con
-elusive argument against the banks and shows
; how fearful an error has been committed by
by our legislature in fostering a system
which- is centering the whole wealtli of the
of the country ill the hands of a purse proud
aristocracy built up and sustained by the
laboring masses. Have the banks obtained
this immense advantage over the people by
i labor and fair dealings ! Have the bankers
labored with the r hands ! cultivated the soil
i produced a blade of grass, or astalk of wheat
j corn or cotton ? They live in princely style
on the labor of the people and instead ofj
i falling in debt to the people for all the alum-’
: dance of the people's products which they
i use they are enabled to bring the peoplo out
! in their debt between four and five times as
much as they are • indebted to the people,
j With these immense advantages, and large.
! resources at their command, the gifts of the
people 46 them, should they have suspended
’ rather than pay a sett per cent premium to
’, get gold and redeem their bills/ the gold has
been shipped from Europe to onr shores for
- sale. What excuse can they give for liav
ng retimed to pay the premium for it, and
: with it redeem their hills ? They should
! have done this out of their surplus incomes
without any additional liurdeL on the people.
But is it true that the people owe the
1 .banks $22,090,000, and the banks owe the
people $5,000,000 ? If it is true the Presi
dents and Cashiers of the banks of Geor
gia lias not so stated under oath The re
’ j turns made to this office, in obedience to the
1 last call made upon the banks, by the ekccu
! tive, to return their condition, under oath, as
’ | required by the statuc.show that tbo assets of
the banks, including notes discounted bills of
’ exchange anil all other assets on the one hand
1 and the liabilities of the banks including hills
in circulation, deposits made with them, and
all other, liabilities on the other hand precise
("Ny balance to a quarter of a cent. And I
may say that it is a little remarkable that
j these sworn returns made twicoa year, by
Ufwicli bank, and made for a day in the past,
[ set by the Executive, should, in every case,
show an exact balance betw-ccu the assets
and liabilities of the banks. I will not say
1 that any of them are untrue,'but I will say
that it shows a remarkable precision in the
transaction of their business; that they j
should keep an exact balance sheet, never
varying a quarter of a cent, when the assets!
and liabilities amonnt 16 hundreds of thon- ‘
sands of dollars. If it is -said that tlreir 1
mode of hook keeping is such that the accounts
must necessarily balance, I may reply that
the object of the statute was to require that
their returns should furnish'the people with
, a correct and simple statement of their true
standing, and not, with” an exhibition of
their skill in book keeping. There is a
mistake somewhere, the statement as to the
1 amount of the people's liability to the banks
,is incorrect or their sworn returns are not
easily explained. I leave the banks to re
concile It. If it is attempted to be done by
saying that the banks eaerv TTUT
which they are afraid for the people to knew
that they have made,the reply ia that this is ,
a part of the asset* of the bank; and should 1
he, rem ‘-inhered when * return is made on i
oath. -
If they reply tlMst a large portion of their
liabilities consists of their capital Stock, I
reply that a large portion of the indebtedness
to them consists of debts due from their own
stockholders (and directors. While they
were exorting much from the people every
year, no such difference of inawrtedtiosss us
that claimed exists between them and the
peopfo, outside of their own stockholders and
directory.
If the suspension is legalized it cannot be
denied that the banks have triumphed over
the people and set the law at defiance. They
have made at once the interest upon all their
bills, they ‘pay no interest and caundf he
compelled to redeem their biils. .It is no
reply to sny that they may be sued and corn- j
pelled to pay Interest after protest, and ten
per cent, damage*. ~ Ttus hilts *mc;
all over the state In the hands of the people
in small sums, and not one in fifty has an
amount of the bills of any one bank large
1 enough to justify him in employing a lawyer
in Augusta or Savannah and standing a suit
with the bank. Better give up the debt in
many cases than incur thp expense, trouble,
and delay. Legalize tbo suspension and the.
hills still futber depreciate, property falls
lower and ezebange riseaTiigTier. The coun
try has no currency but depreciated bills (for
tbo banks will lock up all the gold and silver
iu their vaults,) and we have no means of de
terming which banks are solvent and which
insolvent. At the time set for them to re
sume the insolvent banks would be unable to
jd.o so. During the suspension they would
have flooded tho country with their hills and
the failure would theu fall much more heavily
upon the people than it would if they were
wound up now before they have, time to in
crease the circulation of their worthless bills.
If they are not good the sooner the test is
made and the fact made known tho better
for us all. If they arc good they can buy
gold and resume specie payment. If they
do not, let their charters be forfeited.
Id reply to'nil that litas’ been remarked
about banks and (hank suspensions; It may
lie said that the faalt is iu tho system and
not in the present abuse. While the exis
tence of the abase is not doubted the injus
tice of tho system is readily admitted Most
men agree that we have erred in granting to
our banking institutions privileges so unjust
to the people, and so subject to abuse. But
these become vested rights and cannot, when
given, be recalled, however injurious to the
community, till they have expired by limita
tion of the time fixed in the charters, unless
they are ferfieted by some v iolation of the
contract upon which the charter was obtained.
If they are so much abused as to amount to
a forfieture of the charters they may be en
tirely abrogated and the legislature may re
ebarter them upon such terms as it may
prescribe. If the privileges confet-cd upon
our hank* in their charters arc dangerous to
; the best interest of the State, and are sub
ject to much abuse, aiul if the banks havej
suspended spee'e payment mid forfeited those
privileges it is my deliberate judgement
that no net should be passed relieving them
from the forfeiture, without imposing upon j
them such restrictions, by (amendment of
their charters, as will afford some protection ‘
to the people against the recurence of such a
state of t-liings in future. last their charters j
so amended as to prohibit them, as iu the j
case of Louisiana, wiiere the banks have j
not suspended, from issuing bills or incuting
liabilities over three dollars for every one
dollar of specie in the vaults of the banks
and to prohibit them from using the pro
ceeds of I he- bills and discounted
notes, upon which tbe balance of their circu
lation is based, in shaving notes out of the
State, or if) any other way except to redemp
tion of their bills. Compel them also to re
deem all their small notes -now in circulation
in gold and silverjand let them be prohibited
from putting in circulation after the first day
of January 1858, any bill under the denom
ination of five dollars. After the first of
January 1859, any bill under ten dollars, j
and after the first of Jannirry, 1860, any bill j
under twenty dollars. This would throw specie
in place of small bills in circulation among i
I all our people, in all the smaller class of
; business transactions, and would thereby cn- J
! able the country to stand a commercial crisis j
with much less inconvenience. Let them al
so be prohibited from charging usury under
the name of exchange on all inland transac
tions prohibiting them aR individuals are pro
hibited from receiving more than seven per
cent interest upon the sums] actually loaned.
This would convert them back from shaving
shops to banks again ; mid they would prolia
hi)- do a more ,legitimate banking business.
There would then be no inducement to turn
away from the planter and refuse to discount
his note, however good because they could
get more usury- from the speculator. Let
those and such other restrictions as may be
considered wise be engrafted upon their char
ters. And let the penalty of a violation be
an immediate forfeiture of the charter and
it is believed that we would have a better
Hystem.
To this add a sub-treasury system fr (lie
State,| such as now pruvaiWin the United
States, end let ail collections made by the
State, and all debts paid by her in gold and
silver. This would keep a sufficient amount
of specie out of the hanks in ,tho State
Treasury and in the pockets of the people
greatly to lessen the shock, and.afford moch
relief in case of a future commercial crises
resulting even in bank suspensions. As gold
and silver would form a considerable part of
the circulation, a bank suspension could on
ly depreciate the paper portion of the circu
lation and not the whole circulation. But,
1 aside from any objections to the bill on tbe
score of justice and public policy, there are
to my mind, grave doubts as to tho constitu
tionality., Tbe constitution of tho United
States prohibits any State from passing any
law “ impairing the obligation of contracts.”
l f be contract between the bank and the bill
holder, is that the bank shall redeem its billb
in gold and ;silver promptly on demand or
pretentation. As the bills sre to circulate as
money, the utmost promptness and good faith
is understood to enter into contract an even
to became a part of the very ettence of the
contract. The charter oj the bank grant
ed by the State, and in addition to tbe othei
civil revediesby suit, dtc* the act of 1840
, has enacted that the charter of the bank
shall be forfeited on failure to redeem the
bill* upon demand or grttentation, and sub
sequent provision is ade for the appoint-
RSrdf a Receiver to uke charge of the
assets, convorttbem info money, sat pay the
debts of the hank. Tbe ngbt of tbe UH
holders are not therefore by the oonfraet limi
ted by his right to sue, foe, but they M
embrmp tbe right to bare the bank charter
fortieted, . n d the assets of the bank placed
m of a Receiver for the better se
curity of the bill-holder. By the act es iS
-40 the legislature has pet this distinct con
struction upon the contract of tbe banks under
their respective charter*.
The set shows conclusively that the view
taken by the Legirlaiare of the contract at
the banks m that they were to redeem
their billss in gold and silver promptly upon
demand or presentation and that upon failure
t > do sit their charter should ho forfeited
l'ake from tli* hill bolder this right, to-witj
the right to have the charter forfeited ou
failure hy the hank to redeem their hills iu
gold and silver promptly on demand or nre
senlntion; and you take from him the high
est protection which under his contract bo has
whv under the act ate the charters to be
forfeited if the bills are not bo redeemed hy
the buuk promptly 1 Because tbe bunk hare
failed to comply with their contract. If it
was not the contract to redeem their bills
upon demand or presentation in gold and
siver upon what principle was the charter te
be forfeited. Surely it was not intended by
the lr gislatqre to forfeit their charters unless
they had violated their contract under their
charter. What did the legislature consider
such a violation of the contract 1 The fail
ure or refusal to redeem their liabilities in
gold or silver upou demand or presentation.
X other cause or reason is assigned for a
forfeiture of their charters in
The bill holders and then theremedy by
suit or action against the their
charters were not to be forfeited in iiM {they
refused to redeem their liabilities In gold and
silver tuft brought and judgement rendered
against them, but the charters were to he
forfeited in case they refuse to redeem their
liabilities, in gotd or silver upon demand ’or
presentation, whyj simple because it was in
their contract that they would do so, and the
act of 1840, required them to comply with
tlmt contract ‘'promptly,” or tbir charters
should be forfeited and their assets placed in
the hands of a Receiver for the payment of
their debts according to the provisions of tho
set of 1842. It is manifestly apparent that
it is the contract of the batiks to redeem their
liabilities in gold or silver upon demand or
presentation and a failure to do so In such a
breach of their contract as to authorise a for
tieture of their charters it ia extremely dis
ficult to percieve how the legislature can by
the enactment of a statue to operate protpec
lively deprive tho bill-holder of the rights
and remedies which be lied under that con
tract without impanng its obligation*.
The most valuable and and effective means
which the bilt holder had for the security of
his rights under the contract and which may
have been his strongest inducement to make
the contract, are thus taken away and to that
extent at least the obligation of the contract
impared by the proposed act of the legisla
ture, and if so to that extent at last the obli
gation of the contract is impaired by lb* pro
posed act of tho legislature, and if so to that
extent the act it passed would be inviofartlea
jof the constitution and void. Upon this con
stitutional question Judge Washington of the
Supreme Court of the United States In the
case Dart month College vs. Woodward,
| *<iy* : “In slrajt-dnea not every alternation
jof a contrnct*H)owever unimportant, evaa
though it be manifestly for tbe interest of
the party objecting to it impure its obligation.**
Judge Story in his commentaries on the con
stitution, voi. 2 section 13g5, uses this lan
guage: “ Iu the next place what may proba
| bly be deemed impairing its obligation of
contracts in the sense of the constitution !
It is perfectly clear that any law which en
larges, abridges, or in any manner changes
the intention af the partiee, resulting from
the stipulations in contract, necessarily im
pairs it. The manner or degree in which
this change is effected can in no respect Influ
ence the conclusion; for whether the law af
fect the validity, the construction, the dera
tion, the discharge or the evidence of the con
tract it impairs its obligation, though it may
not do so to the same extent in all the sup
posed cases. Any deviation from it* terms
| by I postponing or accelerating the period
lof its performance which it preserites : im
posing conditions not expressed in roe con
tract, or dispensing with tbe performance of
those which are a part of the contract, how
ever minute or apparently immaterial in their
effects upon it impairs its obligations.**—
Will any otic deny tbgt the proposed act
■poxtpant;* the period of performance* pro
scribed in the contract between tbe hank
ami the bill-holder by taking away from the
bill-holder the right to have the charter for
feited at the expense of the State; il the
bills are not promptly paid upon demaud or
presentation ! Thar period agreed upon or
prescribed by tbe contract hr the redemp
tion of tbe bills in gM or silver is upon de
mand or presentation. The banks have alj,
ready violated the contract by refusing to
redeem their bills upon demand or presenta
tion and this act not only proposes to legal
ize tho violation, but to extend the period
of performance until tbe lffßi day of Xovem-
It may be said tbe act ia only intended to
suspend proceedings, for the forfeiture of
the charter of tire banks until tho day pro
posed ; and not to authorize tbe bank to re
fuse to comply with its contract to redeem
its bills in gold or silver upon demand or pre
sentation but tho very act which suspends
executive and judicial proceedings against
the bank for the time necessarily implies*
license to suspend specie payment for the
same time, and to refuse to abide by ha con
tract to redeem its bills promptly upon de
mand or presentation in gold or silver and
thei-ehy in the language of tbe law poatpoDua
the period of performance and impairs the
obligatiou of the contract. I fpel it tt> be a
Juty I owe to the people of Georgia te and”
all in my power to avert the evjhi vSfcsb.
would follow the passage of.au act
legalizing tho suspension of thk banks.—
All solvent banks will doubtless aeon resume
specie payment. 1 shall do all wWeb tbe
law makes it my duty to do, to bav*tiii(phar
ters of such as do not resume forfoUtedT end
and their assets placed in the hands of B*-
cievere and converted into money and paid
to their creditor* as soon as posible. No se
rious inconvenience will follow ash is believed
most of them are solvent and will rename,
Those which ate not solvent will, be warned
up, and tbe sooner the better fofltlMjpMpte.’