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BY P. C. GIJIEtT,
„ rnr T a\VS OF THE UNITED STATES.
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[Public. No. 4 ]
AN ACT making appropriations for the revolutionary
and other pensioners of the United States, for the year
one thousand eight hundred and thirty-four.
Be it enacted by the Senate and House of Representa
tives of the United Slates of Atneriea in Congress as
sembled, That the following sums be, and they are here
by, appropriated, to be paid out of any money in the
Treasury not otherwise appropriated, for the pensioners
■ofthe United Stales, for the year one thousand eight
'hundred and thirty-four:
For the revolutionary pensioners under the several
acts prior to that of the 7th of June, one thousand eight
hundred and thirty two, in addition to an unexpended
(balance of one hundred and forty-four thousand six hun
■difed and twenty-three dollars and twenty-one-cents, the
sum of nine hundred and one thousand six hundred and
fifty-six dollars.
For the invalid pensioners under the various laws, in
addition to the unexpended balance of one thousand
eight hundred and forty-nine dollars and seventy cents,
the sum of three hundred and six thousand one hundred
and twenty-five dollars.
For pensions to widows and orphans, seven thousand
five hundred dollars.
ANDREW STEVENSON,
Speaker of the House of Representatives.
M. VAN BUREN,
Vice President of the United States and Presi.
dent of the Senate,
Approves, February 27th, 1834.
ANDREW JACKSON,
leaver- HunmMCUB nrwiivu i— ——esaaa
From Bicknell's Counterfeit Detector.
LVTERS'TINS LAW CASE.
The following Law Case, which we find reported at
length in the Montreal Herald, possesses interest for
every Bunking Institution in the country, and we there
fore insert it entire in our paper of to-day. The law
■information it contains, while it may prove advantage
ous to Banks, may not prove uninteresting to the com
munity generally.
Inferior Term of the King's Bench.
Duncan McLean, Plf. r This was an action
, • ts. £ brought by a respecta-
Tjik Bank of Montreal, Dft. ) ble merchant of this ci
ty, to recover the sum of five shillings, amount of a one
dollar Montreal Bank note, which, in the course of its
■circulation and before becoming the Plaintiff’s, had been
■fraudulent!v altered so as to purport to be one of five
■dollars. The party Defendant resisted the demand, on
the ground that under such circumstances the note had
become a nullity, and the law gave no right of recovery
even for the sum for which it had originally been issued.
The Plaintiff" having answered that the Law did give
such right; this law issue was argued by counsel on
the 29th of November last, before Mr. Justice Holland.
Mr. Criffl.r, counsel for the Bank, contended that the
alteration, had nullified the note, so that the bearer could
neither recover on the instrument itself, nor make it
evidence under a count for money had and received.—
The learned counsel cited many English authorities in
support of the doctrine that a bill of exchange or pro
missory note Which, in the course of its negotiation, had
been altered in any important particular, [and what more
important than its amount?] would become a nullity in
the hands even of an innocent holder far a valuable con
sideration. True, that he had met, in the books, with no
•case directly in point; but the authorities were applica
ble, as a bank-note is a promissory note payable to bear
er. The learned counsel relied especially on the case
of Master, vs. Miller, where the innocent holder of a bill
of exchange, which, for the purpose of rendering it soon
er payable, had been retrodated a few days, failed in an
action against the acceptor. He acknowledged that Mr.
Justice Buffer had dissented from the judgment rendered
in that case ; but the opinions of Lord Kenyon and the
two other justices were against his, and the judgment,
being afterwards brought before the twelve judges, was
solemnly and unanimously affinned, and thence forward
had become and remains an established precedent. The
learned counsel concluded by, declaring that the bank
contested the demand not from pecuniary motives, (as
must be obvious from the smallness of the sum demand,
ed, and still more from the character of that institution,)
but from an apprehension lest if such notes were paid,
such alteration would he encouraged, seeing that, by it,
nothing could he lost and much might be gained. Mr.
Driscoll, of counsel for the plaintiff, answered that every
principle of law, equity and policy, were in his client’s
favor, because —
Firstly. The contract between the individual, who had
first put in the bank the dollar for which the note in
question had been issued, and the bank, was a contract
of deposite, whereby the bank received the dollar, giving
the individual a certain symbol (the note,) upon the pro
duction of which by the individual, or his assign, (the
future bearer,) the hank would return the dollar, and re
sume the symbol. That, on this occasion, the bank re
•cognized tiie plaintiff'as hearer of the symbol, and should
therefore, on his offer to return it, restore him the dollar.
Secondly. That the alteration of the note, as, on the
one baud, it could not increase the obligation of the bank,
so as to make it pay more than one dollar, could not, on’
the other, exempt it from the obligation of paying the
one dollar in question. “Though a man shall not suf
ler by the fraud of another, yet he shall not gain by it.”
Suck was the observation of Lord Mansfield in the case
of Robson, vs. Calzee, 1 D mglass’s Rep. page 228.
Now, was the bank, by the judgment to he rendered in
this case, declared tillable to the payment, it would “gain
by fraud of another,” viz : by the fraud of the person who
altered the note.
Thirdly. That, in the case of a bank note, unless there
be a strong presumption of fraud or want of consideration,
the holder’s interest in it cannot be disturbed, not even
by the true proprietor who has been robbed of and can
identify it. That the reason of this was obvious. Bank
notes ate circulated and received as cash, and uniformiiy
transferred by delivery and not by indorsement; that,
therefore, it was, in most cases, impossible for the bona
fide holder for a valuable consideration, to recollect the
person from whom lie received and from whom he would
be entitled to recover the nominal amount in case he dis
covered it to be vitiated; —and, consequently, that it
would be unjust to make him, by- loss of the original val.
ue of the note, to suffer by a vitiation or other fraud in
which he did not participate and which he was unable to
tracfi'.-That, considering that any thing which would ren.
der defeasable or uncertain the holder’s right in that use
ful species of instrument, would tend to the injury of
commerce, the law in the extreme case of the note being
identified and claimed by the real proprietor already nl.
bided to, rightly preferred the innocent holder to the
(perhaps) negligent loser. Thus, that the Plaintiff’s
case was highly favorable, and, in the absence of express
and unconflicting authority, should prevail; especially
as. with respect to him “ versater de dainno vitando,’
while with respect to the defendant, “versatnr de lucre
cuptando.”
-Ithly. That, from the dissimilarity between biffs of
exchange or promissory notes and bank notes with res
pect to the mode ot transfer, the case of Master vs Mil
ler, on which the defendant mainly relied, was not par
allel to, nor could decide, the case in question, *That
even as a decision with respect to bills ot exchange, it
was erroneous; for though according to it, the innocent
holder, destitute of an action against the acceptor, might
have recourse against his immediate indorser, and so on
until the guilty alterer was reached, vet denying the lat
ter all recourse, it left the consideration which'he had
given, as a spoil to be sought for between the drawer and
the acceptor; claimed by the drawer, who, havum re.
ceived from the payee a conside-ation for the bill, mioht
demand of that acceptor the funds destined tor its pav
ment, alledging that as the acceptor had not paid nor riv
er could he made to pay the bill, he could not retain
tluem,—claimed by the acceptor, who might allege, that
the drawer, having received from the payee the amount
of the bill, could not have it a second time from him, the
acceptor. That, in short, that decision took money
from the alterer and bestowed iton the drawer or ac
ceptor; thus levying a penalty without authority of posi
tive law, and rewarding one man for the crime of anoth.
er. That the judgment in that case should have been
against the Defendant; since the retrodate of the bill
being the only objection, and the action having been
brought at a per ad when even according to the real
date, the bill was payable, such a judgment would have
placed all the parties in the situation which they had or
iginally contemplated. That, therefore, and still more
from the solid reasons which he gave for his dissent,
Mr. Justice Buffer’s opinion was correct, highly juridi
cal, and presented a fine specimen of that manly John
Bull good-sense which, in the cause of justice, fearless,
ly opposes itself to veteran precedent and numerical ju
dicial superiority.
5. That a judgment upon a contract, affected by fraud
or some undesired incident, should be such as to give to
each party that which he would have received, had the
contract been duly accomplished and so much fraud or
incident supervened. Now, had the note remained un
altered, the Plaintiff" would have presented it to the Bank
and have received one dollar, and the judgment in this
case should be conformable.
?. That the remedy for fraud should be commensu
rate with the should efface the stain, but not
destroy the Stuff; it should eradicate the gangrene, but
leave untouched the sound flesh. That the remedy for
tire alteration of the note in question, should be an ex
emption from paying the four dollars by which the alter
ation purported to increase its value, but not to liberate
from paying the one dollar which the one dollar did not
affect.
The plantifTs Counsel concluded by observing that he
could not perceive how (as the learned Counsel for the
Defendant had urged,) payment of the note would en
corrage such alteration for the future; for, if (to make
use of the learned Counsel’s argument,) a person alter
ing a note from one dollar to five, would lose nothing and
might gain four, so it might be said that a person ma
king a Counterfeit jive dollar note , could lose nothing
and might gain five ; therefore, in the latter case, the
gain would be greater though the probability of success,
ful imposition would he less. But, that, on the part of
the Plant Jf, it might be more plausibly urged that dan
ger to the public would result from the Bank being de
clared illiable to the payment of such notes, as such a
decision would encourage Banks (though he was far
from either thinking or insinuating the party defendant,)
toprocure their own notes to he altered, and thus enable
■fhem to make a clear gain of the money for which they
were issued. In fine that it was impolitic to refuse the
payment, ns it would create in the public hesitation to
take five dollar biffs however apparently genuine.
The argument being thus ended, the case was taken
on Drlibere, and an intention expressed of submitting
it to the other judges. And, on the 21st inst- Mr. Jus
tice Holland delivered the judgment, in suostance as
follows; for we do not pretend ta give the learned
judge’s language.
He was pleased to observe that, in the case of Mas.
ter vs. Miller, Lord Kenyon had said, “the question is
not whether another action may not be framed to give
the Plaintiffs some remedy, but whether this action can
be sustained on this instrument,” and had declared, as
his opin on, that “the falsification has voided the bill, and,
whatever other remedy the Plaintiffs may have, they can
, net recover on this Bill of Exchange,”—an opinion in
which Justices Ashurst and Croce had concurred, and
which was afterwards confirmed in Error.—That thus,
t it appeared that it was not, even in England, denied
■ that the holder might recover, though he could not re.
. cover on the instrument. Now, here, we have no such
r distinctions ; “ les actions sont be bonne foi.”—The
action must he maintained, if there is a right of recove
ry under the circumstances, and no particular form of ac
tion is required. Thu case has some analogy with an
action on a note lost or destroyed : the party proves the
i loss or destruction and recovers.—Here, the Plaintiff al
leges, as it were, the destruction of the note, (it is, in
- fact, partially destroyed,) produces ihe best proof, (the
j remnant.) and gives all the security the debtor can re
s quire. In law and in equity, the debt is due bv the De
a fendant to the Plaintiff, under the rule of the civil law.
; There is an objection to the Plea, which is also foun
i ded on an equitable principle, that “ I’interet est la me
i sure des actions (et defenses.”] The defendant has no
I interest, except an unjust one; they have no interest to
complain of the forgery; for they cannot now suffer, ex
> cept as to the value of the paper and print, which now
i can no longer be used; this is the amount of their in.
terest ; but, as to these, “ de minimis non curat lex.”
■ It is a rule of natural justice that whenever one per.
I son holds the property of another without right or title
to it, he must account for it. A plea, resisting a de
mand for such account, would be founded in injustice,
and should net be received except in cases where ex
press exceptional law has permitted it, as in cases of
usury and fraud. There, an action is denied, as a pun
ishment to the man who has violated the law, or been
guilty of the fraud.
The case of a bank note is peculiarly favorable : the
law presumes a privity of contract between the bank
and the bearer. It is due the moment it is presented,
and to the person who presents it. I have no doubt
that, even in England, this action would be maintained
by a bona fide holder as for money had and received, if
not otherwise. In this country, there cannot be any he
i sitation as to the right of recovery—The case cited, of
an acceptance of a biff, furnishes more room for objec
-1 lion. When the conti act has been altered (made more
, binding.) by forgery, the acceptor, if he pays, must or
may come upon the drawer, but he has to do so with a
, forged instrument. Not so with the Bank ; they have
the funds, and are liable at all events.
His Honor concluded by dismissing the Defendant’s
demurrer; intimating that he had consulted the other
judges, who had not come to a determination, but had
not expressed any dissent from his own.
EUROPEAN FASHIONS FOR JANUARY.
Promenade Dress.—A redingote of purple merino,
trimmed down the fronts en tablier with black lace: a
round pelerine, fastened with three small bows of black
tulle, and edged en suite with the robing of the dress ;
long sleeves, the fulness confined by three plaits at the
elbow, in the centre of them a little rosette. A bonnet
of blue soie de reine, spotted in black, is tied close un
der tiie chin ; the bows and brides are of blue gros de
Naples ribbon, as is also the forehead bandeau, and bows
inside the brim. Brodequins of black kid ; the greater
part made of vapeur silk.
Evening Dress.—An evening dress of satin du Le
vant, the ground, citron color, traced with small detach
ed flowers in black ; sabot sleeves; and rich blond lace
drapery, a la Sevigne, on the corsage; the hair is dres
sed rather high behind, braids being confined by one
flat tress ; a wreath of green flowers widens over the
, fuff tufts of curls on the temples ; a pearl necklace and
earrings complete this most elegant costume.
Hats.—The fronts of the hats are rather longer at the
■ides than they were : and a small rouleau or piping is
put over the very edge of the front, which gives it a
pretty finish. The crowns are en casque (rounded at
top) and the velvet or satin is put in folds lengthways or
across. Velvet hats font fureur just now. Black vel
vet, lined aud trimmed with orange, and two very long
ostrich feathers of the same color, or a bouquet consis
ting of four short feathers. The ribbons worn on the
hats at present are very rich and handsome; they cost
fifteen francs a yard, and are called “ pompadour rib
bons.” A dark green velvet hat trimmed as atiove. with
a ribbon a sh'.de or two lighter than the velvet, is very
elegant; the feathers and ribbons must match exactly.
This difference of shade between the hat and garnitures
does not answer so well in any other color but green.
Some of our elegantes, instead of feathers, have a bou
quet of velvet flowers, which have a pretty effect. Sa
tin hats are the next in estimation to velvet. An orange
satin, lined and trimmed with black, and a couple of
long feathers one black, the other orange, is ties bon ton.
Rose and black, Haiti blue and black, dark green and
black, and pea green and black, are the colors most worn
in hats.
Furs.—Palatines or long fur tippets are much more
prevalent than boas, although the latter are worn. The
furs in highest estimation are martin, sable, and swans,
down.
Cloaks.—The most elegant materials for cloaks is
called “ satin delaine." or worsted satin. It resembles
plain fine Merinos (not twilled) broche in satin flower.®.
Black and orange, black and blue, black and green, black
and red. green and violet, green and crimson, and brown
and orange, are the most beautiful colors in this materi
al ; it is a rifleis (the color changes according to the light
in which it is seen.) Some cloaks are loose, merely
fastened at the neck by a small cordeliere and tassels;
others are fastened round the waist. Some are with
sleeves, some without. The sleeves are frequently made
to put on and take off in the following manner;—arm
holes are cut in the cloak, which are concealed by the
cape ; to each arm hole are four straps with burtons in
them; the sleeves have four corresponding straps with
button holes, by means of which the sleeves are put on
and taken off in an instunt, and with the utmost facility.
The rapes are invariably square, and are deep and are
very full; the collars of velvet. These cloaks are well
wadd' d and lined with silk or satin. They have one or
two pockets on the inside to carry the handkerchief, fan,
purse, &c.
Colors. The colors still in vogue are those of last
month; orange, Haiti blue, cherry, rose, moss green,
pen groen.vert.bouteille, violet,lavender, mats, and every
shade of brown, from the very dark to very light.
Dresses of brocade silks and satins, Persian satins and
pompadours, are more worn than any others; they are
made completely « I' antique, with sleeves a double sa
bot, and ruffles® la Louis XV. Dresses of black blonde,
embroidered in large detached bouquets, or a colonnes in
natural flowers, done in colored silks, and worn over
black satin, are the most distingue dresses that can be
worn at dinner parties ; they are also A’ery elegant for
balls ; th«>T lore their effect if worn over white or colored
under dresses. For morning wear, dresses of foulard
silk, •poux dr soir, pekin, and satin, are esteemed most
elegant. The corsaees are tight to the bust, the sleeves
are by no means so immoderately large at top as they
have been, and perfectly tight from the elbow to the
wrist. The skirts are very full plaited round the waist,
and little or no space, left plain in front.
BANKING.
As Banking is the great topic of the day, we believe
that the following extract from an article on the subject,
will be read with some inierest. The extract is taken
from the London Quarterly Review'.
The rottenness and insecurity of the English system
of banking are known to aggravate very greatly the et
sects of the panics to which all commercial bodies tra
ding upon credit are unavoidably subject.- The general
distrust prevailing at such periods is particularly direct
ed towards the English banks, which are sure to be the
first to fed the rngins of the storm. The weakest of
these fail, and this adds fuel to the flame which bad al
ready burst forth. A partial want of confidence is thus
speedily converted into a general panic, and all banka,
whatever may ba their opulence and character, suffer
more or less from the consequences. Even banks upon
which no actual rnn takes place sustain great losses du
ring these seasons; uncertain of the direction which the
tempest may take, they are all compelled to make prepa
rations to meet its violence, and the sacrifice of property
required for th s purpose has frequently been enormous.
The faintest whisper,-or the most trifling accident, often
proves sufficient to inflict incalculable losses upon an
English bank. It is a well known fact, that a few years
ago, the accidental overturning of an old woman s apple
stall near the Mansion-house led to a run upon a weal
thy bank in the city, which cost the establishment many
thousands of pounds. Hence the minds of English ban
kers must at all times be subject to more or less anxiety,
and the ; r proceedings in consequence timid artd fluctua
ting.—Their personal alarms cause them, in times of
difficulty and distrust, to abridge or withhold the accom
modation which they had been accustomed to afford
their customers ; and this not only ruins the credit of the
traders, who had been led to speculate upon the exnecta
tion that-this assistance would be continued, but contri
butes to augment and prolong the public distrust. Much
better would it be for the merchant and trader that the
accommodation of their bankers should be altogether
withheld, than that it should be obtained, subject to the
contingency of being withdrawn when most essentially
wanted./ In this most important point the superiority of
the Scotch system is striking and manifest. The mer
chants and traders there can calculate with certainty up.
on the accommodation which they have been accustom.
| ed to receive from the banks. The managers of those
' establishments, being wholly free from all personal anx
| iety, act upon general principles which have never yet
been found to mislead them, and never in the hour of need
withdrew from their customers the accommodation
| which they had previously afforded them. It must in
deed be apparent that the rational distrust with which
the public must continue to regard English banks, as
j- long as they remain upon their present insecure footing,
disables the English bankers from acting with uniformi
ty and steadiness in the business of discounting bills.—
They contract their discounts, not capriciously, nor even
from a want of confidence in their usual customers, but
necessarily from the diminution of their own means.
Our readers should recollect that the proper business
of a banker is not to lay out his Own capital in the dij
counting of bills; he may, like any other capitalist, em
ploy his money in this manner if he should think proper
to do so, —but that is a branch of business which does
not necessarily fall within his province as a banker.
The true and legitimate business of a hanker is to bor
row of one class of creditors capital which he may lend
to another class. A merchant or tradesman, who keeps
an account with an English banker, is always expected
' to leave in the bank a floating balance equal to the a
mount of business which he transacts. It is, at least ta
citely, understood between the parties that this balance
shall,upon the average, be of such amount, that its inter,
est, when employed in discounting bills, shall afford the
bankers a sufficient-remuneration for the trouble which
he takes in keeping his customer’s banking account, to
aether with a sufficient premium for any risk which he
may run in discounting his hills. Now, it must be man.
ifest that the profits of an English banker accrue from,
and are proportioned to, the aggregate of the balances
thus left in his hands; Alt is equally mamiest that the ave
rage amount of this angregate must ever vary with times
and circumstances. In seasons of confidence and com
mercial prosperty it rises in its amount; on the countrary,
is times of difficulty and distress it falls off, and some,
times dwindles to nothing: at each periods, many custom,
ers draw out. their balances altogether, and the remain,
der reduce theirs as'low as they can with decency.
The means at the disposal of the banker being thus di.
minished, he must, of course, contract his discounts, not
from any unwillingness, but from a total inability, to ac
• commodate his customers. Those who lent him money
having withdrawn their cash, the person to whom he
had been accustomed to lend it can no longer have it.
The borrower, thus deprived of the assistance upon
which he calculted, probably fails, and the banker, at
least for utime, is deprived of his usual profits; the fail
ure of the trader tends to increase the public distrust,
and thereby to diminish further the floating balance left
at the disposed of the banker. When, in a moment of
distrust the public withdraw their capital and retain it in
their own hands, the banker may, no doubt, to the whole
extent of his own private means, fill up the gap; he may
sell his own reserved Capital of the funds, and. to the
extent of his power, accommodate his best customers
with the usual discounts; but the supply to be derived
from this source generally fall very short ofthe demand,
the banker’s private capital seldom bearing any propor
tion to the aggregate of the funds which, in ordinary
times, arc placed at his disposal. We have here reveal
ed to us the true cause of the panics which prove so ha
rassing to the feelings, as well as destructive to the inter,
ests, of bankers and merchants in England. The mer
chant depends upon the supply of capital which hn is
accustomed to obtain from the mass which in a perioo l of
commercial confidence is sure to accumulate in the hands
of a hanker; but a moment of alarm arrives,—-the custom
ers of the bank withdraw their balances,—the reserv sir
which furnished the merchant with means to meet his
engagements is suddenly dried up,—and he is ruined.
The system of deriving their profits from the practice
of discounting hills with the floating balances deposit ed
in their hands, presents also a temptation to which bank
ers, who happen to he devoid either of capital orprincu
pie, sometimes yield ; it induces them to lend rnonoy
upon bills drawn by persons of doubtful credit, on an
understanding that a large proportion of the funds thus
raised shall remain as a balance in their own hands. For
instance, two persons, having no capital of their ow n,
apply to a banker for a discount accommodation to the
amount of ,£20,000. each ; the banker accedes to the
proposal: by drawing and accepting mutually, they t bus
create bills to the amount of £40,000. These bills are
discounted by the banker, who, however, takes care to
stipulate that neither of these parties shall reduce his
balance below £SOOO. The £IO,OOO thus retained in
the banker’s hands are, of course, laid out in discounting
other bills at the common rate of interest; and thifj ena
bles him to clear £SOO. per ann. by the transaction, or,
in other words, to realize an interest of 7 'i 2 per cent,
upon £40,000. If the adventurers thus at commodated
happen to continue successful in their spe dilations, all
' goes on well; the bills when due, are regu laily honored;
the speculators reap their profits; the gambling banker
[forsui’i, in truth, must he be Consider! d] pockets his
usurious interest; and the transaction is then repeated.
That transactions of this nature sometini es occur in the
practice of English banking is, we fear, but too true;
they are, in fact, fostered and cherished by the system ;
but, like all other gambling speculatiofis, they seldom
fail to lead the parties who embark in t hem to ultimate
ruin. It is well known that the ruin of a London bank*
which has recently failed, arose chiefly from this vicious
mode of conducting its business; the losses arising from
these criminal speculations proved so enormous, that the
assets left to meet the demands of the duped and plun
dered creditors will not probably yield a dividend of one
shilling in the pound.
But the known capital and tried stability of the Scotch
establishments have led to a system which differs, in
many essential features, from that which prevails here.
The bankers of Scotland do not, like those of England,
derive their profits from the employment of floating ba
lances left in their hands without interest by those who
deal with them: on the contrary, they allow interest for
every £l. of capital deposited in their hands; this inter
est is always less by one per cent, than that which they
charge upon the loans advanced to borrowers ; and the
difference between the interest paid and that charged up.
on the whole of the capital entrusted to their manage. |
meut, forms the only source whence the profits of
Scotch banking accrue.
By this practice of allowing interest upon all deposits,
those banks attract every shilling of unemployed capital
which anv inhabitant may happen to possess.—The wit.
nesses who were examined by the committee of 1826,
estimated the average of these deposites at about twenty
millions sterling. Persons possessed of small capitals
in Scotland never purchase into the public funds : having
• the most unbounded confidence in the solidity of their
own banks, they universally deposite in those establish
ments all the capital which they can spare. All the
banks generally take deposites as low as £10; and it is
stated to be a rare occurrence that a banker should re.
fuse even £4 or £5. Indeed, deposites to an amount
not exceeding £2 are frequently received ; for if an in- !
dustriouslabourer begin with laymgby £2, the banks ve
rv rationally calculate that m all probability his savings
will soon increase. Their general rule is to allow inter,
est upon every deposite, however small may be its
amount. —
TUESDAY MORNING' MARCH 11, 1834.
iETOn the first and fourth pages of this day’s City pa
per will be found a part of Mr. Forsyth’s Speech on the
Deposite Question. It will be concluded m our next.
O’ Anion* the public Documents which we have re
ceived, during the present session of Congress, is one
containing the rules and regulations for the government
as tlie Navy of the United States, prepared by a Board
of Officers, in conformity with an act passed May 19,
030 It is doubtful whether Congress will act upon
the report at the present session. The subject is im
portant, and shon'd not be hastily discussed, and acted
upon without due reaction. We find that the Board
admit three grades of Nava! Officers higher than Cap
tain : Admiral, Vice Admit*!, and Rear Admiral. The
President in his message state, that he approves those
rules and regulations. We have had tune only to give
a hastj' perusal t» this interesting document. we can
not state what is our opinion of the various matters cm
braced in it: one ofthe rules, however, struck our
mind, and gratified our pride ; and it is hoped, if the re
gulations are sanctioned by Congress, that this particu
lar rule will mover be violated by any of our naval ofliy
cers. The rule is in those words : “ Vessels of wvr
ofthe United States are never to lower their sails or
flags in any part of the world to any foreign ship or
ships, unless such foreign ships shall have first lowered,
or shall at the same time lower their *ails or flags to the
vessels of the United States.”
We believe it to be our duty to express our surprise
and reprobation, at the information we have had, and
which seems to be founded in truth, that letters have
been written to England cautioning manufacturers and
shipping houses, not to send out goods to this country;
as there was no money, and the people possessed no
means, to pay for them ? No money in the country, and
the people have all reached a state of mendicity ! Who
have written such letters ? Who have transmitted to
the other side of the Atlantic such a statement of the
condition of the people of the United States ? Can they
be American citizens, with American feelings ? And
what can their motives be ? Are they merchants, and
have a stock of foreign goods, which they wish to sell
at an advanced price ? Or are they cotton-buyers, that
they wish to depreciate the market for cotton goods in
Europe, in order to operate a corresponding deprecia
tion in the price of the raw material ? But whatever
their motives may be, the commercial community of
England and the United States, as well as those con
nected in the manufacturing and agricultural interests
of both countries, have too much intelligence, and are
too clear-sighted, to be led astray by such shallow arti
fice, and by such barefaced misrepresentations. The
Currency of the United Stales has been materially de
ranged; and a pressure on the money market sensibly
and fatally felt by a portion of the community. But
did this derangement and this pressure take from the
people at large the means of supplying themselves with
their usual clothing of cotton manufactures ? Did this
derangement and this pressure render the planters of the
south and west, and the farmers of the north, so very
poor as to compel them to abstain from all the comforts
of life? Besides, what is to be inferred from the ad
vice given to the British manufacturer and shipper, that
there is no money in the United States to pay for the
cotton goods that may be shipped to this country ? Is
it not to be inferred that we are here ail bankrupts ; that
all the money we possessed has disappeared ; and that
our only dependence to meet the payment of our debts
and the purchase of the necessaries of life, is on a de
preciated value of the produce of our lands? And if
this is believed to be the true state of the country, would
it not be reasonable for the British manufacturer and
shipper to believe that the value of our produce must
really be in a depreciated condition, and that at this de
preciation it could be purchased, if money—hard money
—was transmitted for that purpose ?
If the misrepresentations transmitted to England, and
perhaps to France also, acquire credit there, we are
fearful that much mischief will be the result. The cre
dit of our merchants may suffer, and the trade of the
United States with those two Kingdoms may be serious,
ly injured, before the false reports are detected, and the
true condition of the country is ascertained and known.
But we hope that before mischief can be produced, cor
reel statements of the financial difficulties which we
have experienced, will have been forwarded to Europe,
and will have counteracted the evil effects which profli
gate individuals expected would result from their insi
dious and malicious misrepresentations.
Not only attempts to injure the credit of the country
abroad,seem to be in operation,but efforts have been made
to produce serious embarrassments in the internal trade of
the United States. With regret, we have seen in news
papers, the editors of which have some pretension to res
pectability, efforts made to alarm the people, and to repre
sent the mercantile community as fast hastening to ruin
and complete bankruptcy. In the north especially such
efforts and misrepresentations have been most disas
trous, because reputation and credit are the life and the
support of all those who follow the mercantile business.
Impair reputation and credit, and the means with which
the merchants carry on their commercial operations,
are entirely destroyed ; and they must be opulent indeed,
if some of them can withstand the loss of credit with
out becoming bankrupts. It is true that the intelligence
of the people can ascribe to the proper motive the exag
gerated accounts of distress, embarrassments and pres
sure, which are promulgated in the opposition newspa
pers. But notwithstanding, mischief is produced, and
loss is sustained, which will require many years to re
pair. And why such efforts in exaggerating the distress
which is actually felt? Why proclaim that the people
are bankrupts and will be unable to pay for their usual
supplies of clothing? Is it to show the necessity of a
Bank ofthe U. Slates, and of the restoration of the public
deposites? If it be ascertained and proved that this neces
sity exists, the boasted wealth of the Lnited States, the
prosperity they have experienced, and the industry and
enterprize of the people, have been all along mere sha
dows, unsubstantial things, which were artificially kept
up by the stimulating operations of the Bank of the U.
States : the wealth, and prosperity of the United States,
with the enterprize and industry of the people, crumble
into atoms the moment that the Bank of the United
States falls !
On the other hand, is it not mortifying to at Ameri
can citizen to find a moneyed institution, the creature of
the government, and in which foreigners have great in
fluence, raise the standard ot opposition to that Govern
ment, and contend with it for political power ; A petty
corporation putting at defiance the government of tmr- j
teen millions of free beings, and yet finding supporters
in this unnatural war among the most distinguished of
our citizens! This is what appears still more strange. ,
And why this support to the bank of the Lnited States
— and why this opposition by this bank to the govern- j
ment ? Because Andrew Jackson is President ofthe’
i United States. And because Andrew Jackson is Presi
dent, does it make the Government more assailable, and
less respectable? What is it to us who is President,
provided the Government exists as it was established by
the Constitution? If the President is a man of no char
acter, docs it lessen the respectability of the government.
We may despise the man, but we cannot despise the
government of our own choice- We must respect our;
government, and change those who are at the head of it j
if they are not properly qualified. But because Andrew |
Jackson is President, and because certain ambitious
men wish to succeed him in that office, the country must
he ruined, the people must be brought to bankruptcy,
j and the government must be lessened in the estimation
of the world! Because Andrew Jackson is President, a
moneyed corporation is permitted to contend as an equal
with the government of twenty.four free, sovereign and
independent States! If there were pride, honour, and
patriotism in the breast of those who are endeavoring to
spread desolation and ruin over the country, by the mis.
representations they constantly promulgate, they would
first address themselves to the Bank of the U. States,
and say to the Directors, you must bow before the gov
ernmentof our country; we cannot suffer a mere cor
poration to contend as an equal with that government ;
we shall, however, act justly with you, and prevent any
injury from being inflicted on you; and then they would
say to the President of the United States, you have act
ad inconsiderately and improperly; we respect you as
President of the United States, but not as Andrew Jack
son ; as President we shall compel the bank to respect
you, but when your term of office shall expire, we will
certainly do our best to place in the Executive Chair,
another citizen, better qualified than you are. Such con.
duct would be honorable ; but we must say, the means
•mployed to put down the present administration, are
reprehensible, dishonorable, and unbecoming American
Citizens. Finding they cannot put down the administra
tion without producing a serious injury to the prosperity
of the country, they do not pause, but proceed; and they
witness with pleasure the misery and injury they inflict*
because they hope that the members of the administra
tion may be the victims! But the opposition calculate
as desperate men do; they believe that the stronger are
the means employed to produce a reaction, the sooner
' will the effects be felt. They do not calculate on the
intelligence of the people, who will easily detect the ren
son Tor which such strong means are employed; and ha.
vino detected them, will render them powerless. It will
be the case in the present crisis of our political affairs.
The people will require justice to be done to the Go
vernment ar.J to the Bank of the United States. They
will support the members of the administration, if right,
and require the charter to the Bank of the United States
to be withheld, if the institution has mismanaged its
concerns and violated tihe conditions of its incorporation.
O- if the people find th Ai the members of the adminis
tration have not discharged faithfully their duty, they
will change them for others, without ceasing, notwith.
standing, to respect the government nf their own choice.
And if°they find that the Bank has been unjustly dealt
with, they will certainly require that fu'J reparation be
made for the injury which the institution may have sus
tained.
We submit these desultory remarks to our .readers,
with the hope that they will reflect upon them, Wo
could have added much more to them ; but knowing, as
we do, the intelligence of the community to which we
address ourselves, we thought that it was sufficient te
point out a few prominent subjects for investigation, lor
themselves to enlarge upon them, and to arrive at satis
factory conclusions.
Miscellaneous Items.
The Charleston Board of Health reports the death of
twenty three persons in that city, during the week end
ingon the Ist inst. 5 whites and IS blacks and colored.
The New-York City Inspector reports the death of
140 persons in that city during the week ending on the
22d ult. viz : 29 men, 2G womsn, 45 boys and 40 girls.
The Philadelphia Board of Health reports the deaths
of 85 persons in that city during the week ending on the
Ist inst.—33 adults and 52 children.
A young man of genteel appearance, seeing a man
unfolding a toll of bank notes, in Charles street, Balti
more, a few days since, daringly snatched them from
him, and although pursued by a number es persons, es
caped by his adroit turnings through lanes and alleys.
Recsiptfor Starlet Fever. —A very simple remedy,
says a correspondent of the New York Commercial Ad
vertiser, for this dreadful disorder, is now using in this
city with good effect. It is merely a mixture of Cay
enne pepper, salt and vinegar, used as a gargle.
A bill is now before the Legislature of Indiana* soli
citing a loan of two hundred and fifty thousand dollars
for the purpose of internal improvement—fifty thousand
dollars of which sum are to be expended in the improve
merit of the White and Wabash rivets.
In the Massachusetts House of Representatives, on
Monday week, the Judiciary Committee was instructed
to inquire into the expediency of altering or amending
the act to restrain public shows and theatrical exhibitions.
The grand jury of Boston has found true bills against
Messrs. Hooper and Jones, principals, and Messrs. Booth
and Gibbs, the seconds, in the late duel at Pawtucket.
The receipts of tiro Ohio Canals for the past year have
been $187,026 30, being an increase of $70,212 30
ovor that of the preceding year. The amount of ex.
ports seem to have increased in ratio with the tolls.
On the Ist inst. the British armed schooner Monkey
arrived at Havana with a slave ship in company, from
the coast of Africa, with 300 slaves on board.
Tire opening of a porter-house in London is thus an
nounced in Bell’s Life in London: —“ Josh Hudson has
opened an abattoir on his premises in Leandenhall Mar
ket, .where animals of all descriptions are put out of
pain in the shortest possible manner, by hi a -elixir vita."
The animal referred to is man.
The Exeter News Letter states that the first duel on
record in New England, was between Edward Doly and
Edward Leister, two servants of Mr. Hopkins, [one of
the pilgrims] June 18, 1621. They were tied together,
neck and heels, till their chivalry was established, and
their names immortalized.
The annual Swedenborgian Convention, held in Cin
cinnati, Ohio, have published a circular, from which it
appears this sect is increasing in the West, there being
now located in the “ great valley,” one ordaining minis
ter* four teaching ministers, and four licentiates. It
was determined to purchase a press, and issue a Swe
denoorgian periodical.
The Juniata Free Press states with confidence that
the Juniata division of the Canal was filled with water on
the first of March, and is now in order for navigation.
Avery’s pamphlet, in vindication of his innocence* has
been issued from the Boston press under his superin
tendence. A portion of the work is devoted to a review
of the articles under the signature of Aristides, Which
appeared in a Providence paper, and were extensively
copied.
An Alabama paper giving an account of the
debate on the Creek controversy in the Legislature, says
that during the remarks cf Mr. Marriott, hissing was
heard in the gallery, and Mr. M. looking up, said that he
had caught a worthy Senator in the act of hissing. There
were two animals he said, remarkable for hissing, one
of these was a goose. The other animal, remarkable
in this respect, was an adder : therefore, said he, hiss on
most worthy Senator.
[communicated.]
The remarks of Mr. Senator Chambers on the “Maine
j Petitions,” in the Senate of the United States, on the
1 21st of February, are so rank in their general features,
that I cannot suffer them to pass unnoticed. In order
that the public may have the true history of this “ Wall
Street ” collusion with the Executive, to trample down
i the Bank of the United States, I must change the ge.
i ography of the scene from New York to Georgia. At
a recent session of our Legislature, it was made a penal
offence for Banks to issue, or individuals to circulate,
bills of a denomination under five dollars. This law
took effect on the Ist of September last, and the general
impression was that a much larger quota of specie would
be required by oi r B-. *:» ‘han they had ever before
found it expedient ’ k As the amount of the issues
by the various Banks of these small bills was supposed
to be nearly $600,000, and that a large portion of the cir
culation would be required to be redeemed with specie,
each Bank made arrangements accordingly. The house
of J. D. Beers, I. R. St. John & Co. of this place, having
contracted to deliver a large amount of specie by a cer
tain day, and. not having time to procure it from the
North, they selected ,he United States Bank in Savan- (I
as the source from whence it should be procured ; |1
and m a short period collected 334,000 dollars of the II
S ° L, 3t ranc *'’ at, d had them presented for pay- H
ie specie drawn and the larger portion
, gUS ‘ a ’ and diSP ° Sed of as originally con
thr.t r u ** r ot UUe ' a3 Mr * Chambers asserts,
ter aSl a er 01 the Bra " ch in Savannah, Mr. Hun
er expressed pleasure at the demand, or that the Bro
ker was nonplussed at the immense amount of specie \
. he found himself burdened with. Nor did the Bro
er ask the Bank for a draft on the North, neither |
would he have received it, neither was the Bank asked
0 .eep the specie on deposite, for it was taken away
, • - 6 [‘ lll * v as * Jsl as paid. The principal house of
is firm, that is the house in New York, did not either
direct.y or indirectly furnish, or cause to be procured, a
single dollar of this 331,000. Neither did they know of
non Unt ‘ l the draW WaS made - Not * dollar of ‘ I
this 331,000 was procured out ot Georgia. This is a
plain unvarnished statement of this transaction, suscep- i
tible of the most palpable proof; and how does it accord 1
with Mr. Chambers’ statements introduced in his re
marks on the "Maine Petitions”? Was there ever a
grosser tissue of misstatements embodied in so shore a
speech? Mr. Chambers, when he discovers that Mr.
Forsyth is ignorant of the real transaction of this draw'
very ingeniously, he no doubt thought, exhibits a collu!
sion between a Neib York Broker and the Executive in
relation to a transaction which had its origin and con. I
summation in Georgia, and 1 regret for the honor of the
State of Maryland, that her. Senator Chambers does not "
possess more of the “ weave? 1 faculties. So far from
the Bank in Savannah having more specie than she usu
ally kept, and so much that a disgorgement of 300,000
dollars was a matter of relief, she actually had not silver
sufficient to meet the demand, and actually drew 10 000
dollars from a local Bank. Look at tb» _ »-
which Mr. Chambers predicates his remarks upon this
identical draw, and the political effect to be produced.
How is he to sustain himself in his position ? Can it bs
possible that he combines in the office of a Senator that
of a hireling also ? Has the Emperor Nicholas touched
his prospects with that potent wand which has caused
stronger nerves than Mr. Chambers is allowed to pos
sess to diverge from the strait road ; or has he fallen so
far below the dignity of a Senator as to have become
the petty.fogging tool of the Bank party, and to utter
villanous Assertions and colour transactions because
they suit the views and purposes of that party? If so,
1 congratulate the Bank upon the acquisition of so desi
rable a gentleman; Why the necessity of introducing
private transactions on the floor of the Senate Chamber? J
Was it not done for the purpose of creating excitement,
and further the views of the Bank, though done at the
expense of truth ? Had not the Augusta Broker the
right to draw as much specie from the Bank as he could
and thought proper for his business transactions ? If se,
how dare a Senator of the United States to say it is the
Bank ot the Government, and individuals shall not touch
it, or they shall feel the weight of a Senate’s displea
sure ? What favours have Mr. Cashier Hunter, of the
Savannah Branch, ever shown this broker? He has
long since closed his doors to them, and publicly stated
that their name should not again go on the books of hit
Bank; and all this is done from personal hostility of this
Cashier towards this particular Branch of this “ Wall
Street Broker.”
Under such circumstances as these, where is the
concern, having the power, and the prospect of fine pro.
fits before them, would scruple at an operation on this
Bank ? Are the private interests of a concern, and 1
their transactions, to be mooted by the Senate, judged , ■
and condemned to the scowl of its members, and have
their private transactions distorted into a political bat
tering ram, because it happens to suit the plans of th*
Rank’s party in the Senate? Mr. Chambers pretends
to a combination between the Executive and this Broker, '
to crush this mighty moneyed aristocracy, while at the
same time he exhibits a mass oi specie, so much indeed,
that they thank any one to take a part of it. Why then
raise a line and cry about a draw of "300,000 dollars,*'
and at the same time to impress upon the Senate that
the community must be ruined, and the Rank tumble to
pieces, unless Congress shall interpose and lay its strong
arm on this combination, and crush it? Mr. Chambers
says, “ it happened that the Bank had just about 300,000
dollars of specie more than usual.” This being a fact,
I should like to know how much this Branch usually
kept. It seems that after the Bank had paid 324,000 '
dollars, she had to draw 10,000 dollars from a local Bank
to complete the payment. It follows then that she
usually kept 24,000 dollars, if Mr. Chambers’ reasoning
is not most cgregiously incorrect. And yet if any one
will examine her monthly returns for several years past,
they will find that this Bank has usually kept on hand
not much under 300,000 dollars at any one time, although
her issues have reached 1,700,001) dollars. I hope that
Mr. Chambers, when he again attempts matters of this
kind, will net hang himself up to the public gaze in so
contemptible a position, or again allow his assertions to
fecoil upon him stamped with the odium of having know,
ingly and wilfully perverted facts, for ho cannot apply
the "non mi recordo ’* of the Italian to himself.
BALDWIN.
CHARLESTON, MARCH B.—The annual Com
mencement of the Medical College of the State of South-
Carolina took place yesterday, at the College Building
(late the Theatre) in Broad-street. After Prayer from
the Rev. Mr. Barnwell, and an Address from Dr. Dick,
son, Dean of the Faculty, the degree of M. D. was con
ferred on the following gentlemen :
Thos. Burnside, 11. K. Burroughs, Robert E. Camp
b 11. I R. E. Couturier, T. G. Croft, W. Drain, John
E. B. Evans, John M. Farrel, Chas. Edward Ford,
Edward Gantt, John ?>l. Glenn, R. W. Gibbes, P. Hous.
ton, Moses Hyams, Chs. Irby, Richard Jarrot, J. A.
Lawrence, Edward F. Leituer, James Y. Lenoir, John
W. Lightfoot, John M’Loring, Joseph M’Dowell, Benj.
M’Millan, S. Preston Moore, Albert H. Nagel, A. P.
Nott, J. S. K. Palmer, James W. Pierce, Jno. P. Por
cher, J. M’P. Pringle, William 8. Reynolds, Robert A.
T. Ridley, Benj. A. Roderigues, Chas. C. Spann, Tho
mas T. Stark, Chas. Thorn, Theodore Turnbull, James
J. Wall, Samuel Way.
The following graduates ofother Colleges were then
admitted ad Eundem Gradum, in the Medical College
of the State of South-Carolina.
Win. B. Cheesborough, M. D. of the Medical College
of South-Carolina, Abner Hopton, M. D. of the Medical
College ofNew-York. I. Bowen, M. I), of the Medicsl
College es Georgia.
Dr. I. R. E. Couturier, received the premium for the
best English, and Dr. Edward F. Leitner, for the best
Latin dissertation. The valedictory address, was then
delivered by Dr. Richard Jarrot, of Williamsburgh,
which was followed by an address to the Graduates, by
the Hon. C. J. Colcock, President of the Board of Trus
tees, and the proceedings closed with a prayer by the
Rev. Mr. Barnwell.— Cour'er,
[From the N. Y. Com. Adv. of March I.]
The Winter—or rather the winter months, for wo
have had very little winter weather, passed yesterday.
So fine and pleasant a season has seldom been witness,
ed—the mercuiy has been down to 12 degrees but onco
only, and only a few times so low as 20.
'I here has been in the aggregate more than three
inches of snow, and nothing which deseivcs the name
ofa storm. The sleigh bell have been heard but one
forenoon only, and the weather has been for a consider
able portion of the time, as mild as autumn. We ought'
to be exceedingly grateful to Providence tor this blessing,
for if the winter had been as severe as those commen
cing in IS3O and 1831, the distress of the poor, added to
tiie pecuniary embarrassments of the times, would have
been great indeed; as it is, we have heard of compara.
lively few cases of extreme suffering tram poverty.
Ihe ice in the Hudson has given way much earlier
than usual this season. The first steam boat left Alba
ny on the 26th ult. which is the earliest period for tho *'*
last six years. The Connecticut is also open, and the
navigation to Hanford unobstructed.
The Hudson opened during : the six years as follows:
1834—26th Feb. 1831—15th March
1833—22 d March 1830—17th March
1832—25th March 1829—4 d April.
The boat which arrived this morning brought the le. '
gislative proceedings of yesterday. * '
NEW ORLEANS, F EB724. — Ft r7.~A fire broke
out on Saturday evening, in one of the warehouse
.ached ,o Ogden's Cofon Press, in Magas,l