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K CO NsT I T UTI oXA LI ST.
| BY GUIEU & THOMPSON.
rUBLIgHKRS OF TUK LAWS OF TUB UNITED iTATKS.
XT TF.IiMh.— DAILY PAI’EB, per a nuni, eight.lol-
I tra, f«r ail months five dollars; for the Semi Weekly,five
dollars; for the Weekly (ctmtaioing twenty-eight columns
three dollars—ail pavalile in advance.
Xr.iDrERTISEMF.XTS ine rted at Charleston
prices. <fj~ Postage must be paid on. all communications,
and letters of business.
* ' (From fSe <5 jfnrtesto n'Patriot!]
repeal of the USURY LAW—free.
DO.VI IN BANKING.
The forfeiture of their Charters, by the sus
pension of specie payments, of a large number
of banks in the United States, never presented,
in the history of our hanking establishments, so
improvable an opportunity for a reform in the
' currency. The Legislatures of the States can
flow dictate the conditions on which they will
consent that such suspension shall not work a
forfeiture of charter. If such opportunity be
lost, there will never perhaps occur another so
favorable for this purpose. The elections
throughout the Slates iu tile fall, will mainly
turn on the question, of the nature and extent
of reform which is required by our banking sys
tcm. If amendment does not now lake place,
we shall despair of it for the future. Tiie cur.
rent of unblic opinion is at present setting strong,
ly against the Banks generally. This, like all
popular excitements in the United Slates, is apt
to go into extremes. It is the duty of the Pres
to allay the excitement, if possible, and its con.
doctors should stand between the banks and
their assailants, endeavoring by calm and argu.
mentative appeals to the reason of one party anc
the interests of the other, to produce that slab;
of feeling which is the best for dispassionate
judgment. Banks, looking to their permanent
interests, should consent to a modification ol
the present system of banking, while the public
are entitled to the benefit of those improvements
which are to be derived from the lights of sci
ence and tlte lessons of experience.
As we have already said, we have no reliance
on Legislative checks against over banking,
They have been tried in every imaginable mode
and degree, and the result lias been failure—
lamentable failure. The problem is still to be
solved, therefore, in what principle, constantly
operative on the fears of Banks, is to be sought
an effectual restraint against the abuses ofbauk.
ing? The distant and contingent checks on
which reliance has been placed, offer no security
to the public. What the community requires
fore safely is a restraint of constant and uniform
action —one addressed to the present rather than
the future apprehensions of those who exercise
one of the most important prerogatives of so.
vereigntv—namely, the creation of money.
We have already endeavoured to illustrate tlic
advantage of the principle of competition in the
lending of money, but not in its creation. The
making of money we would place under as strict
restraint as it is possible to produce by competi
tion. Legislative restrictions we would dismiss
entirely, as offering no security against the
abases of banking. The manner of permitting
freedom in banking with safety to the public
we have already 7 attempted to explain. In wha
mode the institution of Banks of Discount am
Deposite would restrain the over issues of paper
will require a little more elucidation in detail
If we were about to establish a system ofbauk
ing—were we to commence de novo, we wouh
incline to that scheme which is now largely en
gaging the attention of the English Economist:
in consequence of similar banking abuses ir
England to which we have been subjected. Wc
would have a single source of issue, at soon
central spot, the other banks receiving their sup
piles ofcurrency for local wants from that sourct
and no other. The advantage ofsuch a scheim
would be an undivided responsibility for issues
But it is idle'to discuss such a plan intheUnilet
States, with their myriads of banks. The near,
est approximation to it must be sought in the
restriction of banks of issue, as to number,
amount of capital and extent of emission, by the
competition with them of hanks of discount ami
deposite, who will harrow as well as lend money,
but who will be precluded from making it, or
in other words, coining their credit. Such
banks would be best on the footing of associa
tions of individuals, without acts of incorpora
tion, subject to the common law of mercantile
partnership,—viz; liability to lbs whole exlcnl
of private fortune lor the debts of such institu
tions. Incorporated banks would then have the
entire responsibility of the issues, and would be
the sources of supply for the currency wbicli
may bo required for circulation or investment
Banks of issue would then stand in the same re.
latum to Banks of discount and deposite in the
in the U. States, in which the Bank of Englanc
stands to the London Bankers. That instil utioi
is the sole source of issue for the British Metro
polis. It supplies the necessary quantity o
currency, in Us notes, to the London bankers
who act as bankers of discount and deposite ex
clusivdy, and who accommodate the numerous
class of small and middling traders in Londor
with money supplied by the Bank of England
The mode of operation wc must, however, at
tempt to elucidate, by which we expect tha
banks of deposite and discount will restrah
hanks of issue, thro’ the principle of competition
Let us suppose, for the sake of illustration
that Charleston having six banks of issue already
incorporated, a single bank of discount and de
posite should be formed, which would lake ir
sums on interest, of no smaller amount tha nfif
i.y dollars, and for no shorter period than threi
months, allowing one par cent, less to tire depo
eitor for the deposite, than it could obtain so
lending it to some one else who would employ
it actively. Let us imagine that the issues o
these six incorporated banks amounted to 03,
000,000. This extent of issue is what is sup
posed, in this hypothetical case, to be the satin
in amount as would fill the channels of circula
tfon, if the precious metals were employed.—
Now, as A D and C wouid borrow this money 7 o
the issuing banks, it would of course, as it pass
cs from the hands of the borrowers, come intt
the possession of the industrious classes as tin
equivalent of their labor or the commodities ir
which they deal. If we suppose, that one-thin,
of this amount of issue to lie idle for the want o,
opportunity to employ it actively, so as to pro
duce profit, and it goes into the discount anc
deposite bank, on which interest is allowed, this
amount, forming a fund on which to hank, woulc
by competition restrain the issuing banks dispo
sed to over issue, exactly to this extent. If the
issuing banks were inclined to over issue out
third *01,000,000.) more than wc suppose suffi.
cient to fill the channels of circulation, they
would meet in the money market one-thirc
(•§1,000,000,) of their own issues, which other
wise would have been dormant capital, seeking
employment by their competitor, the discount
and deposite bank, and which had been lodged
there on deposite. The issuing banks would
therefore meet competition from the active cm
ploymentof their own issues, to which vitality
had been imparted, and which otherwise would
in the hands of their possessors have remained
idle and unproductive funds. It is in this man
ner, wc conceive, that the unemployed money
of the people, including small as well as large
sums, would constitute the fund on which to
bank with profit, and the means, united with
deposites of coin, of competition with banks ot
issue. We have only adopted the above sums
for the purpose of illustration. The view wc
have taken proceeds on the supposition, of
course, that there would always be a sufficient
fund formed ot the issues of the present incor
porated banks, lying idle for the want of some
stimulus of interest to bring them forth from
their unproductive state, united with deposites
of coin*which would allow sufficient scope for
competition.—We apprehend that the amount of
deposites would he so large that the apprehen
sion would rather be the other way, and that
banks of discount and deposite would have more
offered cm deposit than they could employ with
profit, which might from excessive competition
unduly force down the rate of interest. But
here again the issuing banks would check, in
the other direction. Their issues would never
be so abundant as to allow the deposite bank* to
obtain too large an a.nount of their paper. Each
description of banks would therefore restrain the
other. The system of routual checks, of the
issuing banks on the one hand, and the deposite
banks on the other, would work with entire har
mony.—We shall next show that the accumula
tion of deposites from small amounts, hate
made, where the plan has been adopted, so
large an aggregate, that the principal source of
profit derived by the Scotch Banka is from this
eoorce, in small sums, and rot from their issues.
[From the Charleston Courisr.]
NEW-YORK, June 14, 1537.
Messrs. Editors: —The next sixty days will
decide t lie fate of this place and.of the Ameri
can.trade. -By.tfyat time the question will be
sett led, whether the Bank of England suspends
specie payment. As to her supporting tiie
American houses, unless she docs so suspend, it
is out of the question— as it is, one of them will
go. Ihe great question now is, what will fol.
low? first, the suspension of specie payments;
and, second, the.omission to do so. Ii asuspen
sion takes piace, it decides that the metals aic
not sufficient to constitute currency—that credit,
either individual or national, must be substituted.
Fne ctfoct will he, that trade will at once re
vive. Co’,-m will he in demand. The foreign
debt will be paid—and the only fcaris, that spec
ulation and extravagance will once more prevail.
But it will prevent any turmoil in Europe, and
develope the resources of commerce with won.
derfui power. The evil lobe apprehended, is
tiie intoxication of prosperity; hut, perhaps, that
is better than the torpor of adversity. The so
briety of moderate success is that happy medi
um, which may hr approached, hut never main
tained f any length of lime. If the Bank of
England does not suspend specie payments, the
American houses must lake their tale. Bills to
the amount of ninety thousand sterling have
come hark, and probably every house in America,
whose name is on bills, will go. Then the very
worse may be expected. Cotton will not sell—
trade will cease. Already great losses are
made hy every packet, and they must lie up.—
To America, the result jmmeuia'ely will he dis
astrous. In the end, it will be otherwise; we
shall have less foreign, but r.ore domestic trade.
The West will be speedily settled. To Europe,
the effect may be to precipitate that conflict,
winch Mr. Canning foretold must be waged; if
so, the struggle will be a bloody one. The
poor, every where, will be armed against the
rich—the multitude against the privileged or
ders—along arrcar of oppression will he requit
ed at once. The aristocracy of England and
her corn laws will full together, and Ireland will
demand her recompense lor centuries of mis
rule and oppression. Any revolution in Eng
land will restore to Ireland her local legislature,
and perhaps end in a federative unio preser
ving to Ireland the same rights which the States
have here; but all human calculation is uncer
tain as to the result. As Americans, we may
endure all the present evils, which the times pre
sent, with the prospect of national superiority,
which we must acquire pending such a struggle
in Europe, but humanity and enlarged benevo
lence unite to deprecate sudden and
struggles in England. Tiie abuse of her insti
tutions have, been the growth of ages—at bottom
those institutions are f avorable to human happi
ness, and if their abuses are gradually remedied,
they may become permanent; but violent con
diets seldom end sal isfactorily, even to the vic
tors. All must unite in the hope that the Dank
ot England will put a stop to the struggle for
specie, hy substituting her credit with the sane,
lion of Parliament. If she does, we shall be
under the way again in less than four mouths;
if not, we have a sea of troubles to encounter—
sixty days will decide. In the mean time, what
will Congress do? Without a compromise of
opinions, nothing but vituperation and impracti
cable projects will occupy Congress. I do not
see but one chief question—a National Bank;
and it is very doubtful if that is not premature.
If established before the resumption of specie
payments, where is the specie to come from
to got up a new Bank, paying specie 7 The hank
ing question is most difficult and complicated;
that we must have something besides coin is a
reed, hut how to check the abuse of the power to
issue notes, is tiie difficult problem. The ex
pansion in England enabled the brokers to give
the large credits to American houses, which led
to the overtrading and credit system here, and its
consequences. The Joint Slock Banks in
England, increased forty-two trom January to
November, 1820, and each had from four to six
branches. It. was in 1826 that the law was
passed authorizing Joint Stock Banks in Eng
land, and in the first ten years sixty Banks were
established, but the mania raged in IS3G, in
which, including branches, there were about
two hundred new Joint Slock Banks got up in
England and Wales, all issuing notes payable on
demand. The increased issue between 26ih
December, 1835, and 31 si. December. 1836, was
.£1,458 646, or fifty per cent, on the former is
sues. The bullion in the Bank of England be
gan to leave her vaults in tiie latter end of April,
1535, and instead oftho issues being also lessen
eJ, they went on increasing, notwithstanding the
rate of interest was raised from four to four and
a half, ami finally five per cent. The Joint
Stock Banks increased about thirty seven per
cent, from April to September, in the face of a
• heavy drain of bullion. Now, I suppose the
prophets, Daniel, John and Henry would lay
all this to the specie circular, or the omission to
charter the U. S. Bank; but this hatch of Banks
was in England, where they have a National
Bank, and one ten times more potent than any
wo can charter—a bank under the patronage of
the government, whose notes arc legal tenders.
What quackery to set up for prophets, who were
so short sighed, whose nuny causes bear so lit
tle proportion to tiie eifccts produced. These
facts, from authentic sources, prove two propo.
silions—first, that the disastrous state of money
matters was produced by extravagant issues of
paper in face of a decreased of specie in Eng
land, and reached this country by means of un
called fir import ion, stimulated by extensive ere.
dits to the importers, and producing wild specula
tions in home purchasers, who were seduced by
• similar credits —and secondly, that a National
Bank, even with all the power of the British Go
vernment to back it, was inadequate to prev- nl
over issuing, and that the fi st effort of a Na
tional Bank to restrain the Joint Stock Banks,
lias produced a convulsion which lias shaken
- England and America—produced a suspension
of specie payments here, and will produce a sim
ilar suspension by the Bank of England, or per
haps, revolution ami bloodshed. And we may
add a third proposition—that disappointed aspi
rants f ir office are the last, men to exhibit that
. reach of intellect which should distinguish great
statesmen —that a pure love of country and dis
interested anxiety for the good, even with less
brilliant mental powers, do in fact, render men
of ordinary intellect, the safest and best rulers.—
As our difficulties began in Europe, so must tbe
remedy be applied there. Our Congress has but
limited powers, an Ito transcend them, will be
more pernicious than any money difficulties
which have happened or can occur. A Nation
al BauK, with Branches in each S ale—with
the public Credit pledged for its notes in each
State, and all local Banks subject to control in
their issues, until llicir charters e pire, and then
im new Slate Banks to he incorporated, might
furnish a currency as good as gold, and as plen
tiful as tiie business of the country requires.—
But would three-fourths of the States accede to
I an aheration of the Constitution to that effect?
; And will any thing less than such a Bank be
! effectual? Who can answer, giving the reasons
iof the faith that is in him? Speculation in wes
j tern lauds, where left to farmers, will prove
I o-ood cities below par. A man whose dress
| indicated him to bo one of those (gentlemen who
[ Jive by “head work,” called “to get employment
jto support his family.” I told him I was sup.
plieti——he drew a long breath, and said, “Well,
I j believe we shall have to go to forming at lasi.”
j I told him “that was not quite s i bad after all.”
I The fellow looked at me as it I had no bowels.
OBSERVER.
[ From the Nets York Evening Post.]
Those who complain ol the multitude ot emi
grants daily arriving on our shores should not
have forgot that it is ourselves who have invited
them over. If the four winds of heaven had
been endued with voices to proclaim the invita
tion to the inhabitants of the four quarters ol
the world, they could not have done it more
loudly and effectually. We have invited them
over Oy the vastness and variety ol our enterpri
ses which demanded more labor than we conic,
possibly find hands for; we had mighty cities to
be built, and cat a’.s and railroads to he construct,
ed through territories larger than the largest
kingdoms of Europe, while we have allowed our
riel Tsoi! to be untilled and unproductive. We
called them over by the high wages with which
we, in consequence, rewarded every species of
labor, and by the high prices which every pro
duct of the soil bore among us. They saw the
wheat of Europe exported to this broad and fer-
tile territory, to be sold at enormous price*, ani
it was natural that they •houlil conclude that
there was a deficiency of labor in this country,
and should make haste to follow it over. If,
therefore, the number of emigrants be larger
than is desirable, it is we, and not they, who are
to blame. Their introduction will bo checked
whenever the inducements which we have men
tioned are known no longer to exists.
But the emigrants are here and are daily arriv.
itag. ""They do not find in New York the era.
ployment which they were promised—the em ;
ployment which a few months ago would have
been forced upon t hem. The question is what
shall be done lor those who have come over on
our invitation. —Instead of placing Aaron Clark
and Alderman Bruen at the gate." of our port,
with the vain hope of scaring them away to
some other part of our coast, it would be better
to furnish them with the requisite information
'for their guidance in proceeding to those dis
tricts of the country in which occupation may
be found. This is both our interest and our du
ty—interest because we thereby hasten the de.
parture of the emigrant to some point were his
condition may bo improved, and the chance of
liis becoming a charge upon us done away —duty
because lie is a member of the same human ta
mily with ourselves, entitled to a similar partici
pation in the blessings of creation, and because
he was induced to leave his own country by in
ducements arising out of that extravagance of
speculation which is but now in the process of
cure.
We see neither justice nor policy in getting
up at this moment, either new obstacles or old
and disused ones, to prevent the arrival of emi
grantsori our shores. The same reasons which
formerly moved the Corporation to reduce the
commutation money from four to two dollars
have the same three now as then. All that is
necessary at present is to afford the emigrant the
best information in our power as to the course
lie is to pursue on touching our shores. We
have a boundless and immensely fertile western
tcrritorywhich might be beneficially occupied.
Our government has brought large parcels into
the market; these have been purchased by spe
culators who would be glad, very glad, to avail
themselves of the opportunity to sell. These
men should now come forward and state their
location, their price, and the best means of ac.
j cess to them. If those who are interested will
i i.ot bestir themselves in this matter no one suf
fer more by it than themselves.
Ihe subject does not admit of being made a
party .question. The observation of Alderman
Brue.i, that the votes of emigrants or aliens
were a cauital for the administration party to
trade upon, but which was about to be broken
up, is grain tons, and discloses the motive of this
hue and cry i aisod in certain quarters about the
number of cuiigrants. This gentleman forgot
bow assiduously bis party strove to secure the
vocsoftlicsen.cn in 1834. The Sampsons
and McNevins were then placed on t heir ticket,
and earnest appeals were made to men of foreign
binh for their support. The result has proved
a warning to those wf o .would treat men as ma
chines to he practised upon by cunning.men for
their own uses. The instinct of the emigrants
in the mass, it is well known, is in favor of lib
erty. Their experience of t.he governments of
the old world gives them feeli.'gs favorable to
the democratic cause, and lhe party which dis
trusts and labors to limit the popu’lar ascendan
cy can have no hope of support at 'their hands.
The advice that should tic given to emigrants
is to remove immediately to the woslen.’ country.
A great many laborers, however, might find am
ple employment and liberal wages in the agri
cullnral parts of New England and other long
settled parts of the country. Nor ought they
to travel by steamboat or railroad beyond a giv
en point. Let them take the by-roads on foot or
in such vehicles as they can afford to employ.
By avoiding the large towns on the way they
would fall in with chances of employment or
the investment, of small sums to better advan
tage than otherwise. .Mechanics and farmers
arc wanted all over tire country. The state of
the times makes but a slight difference in this
respect from more prosperous periods. The im
portation of wheat proves that land enough was
not cultivated to raise sufficient grain lor our
home consumption. The importation will con.
tinne if the deficiency is not. made up by a more
extended cultivation. We need no better proof
of the scarcity of farmers and mechanics and
laho rersof all kinds than the fact that the news,
papers abound Willi paragraphs calling upon
them to emigrate westward. We have nume
rous instances before us.
[From the Pennsylvanian.]
CORRESPONDENCE.
Read at. the Town Meeting in Independence
Square, June 19 h ;
Philadelphia, May 26:h, 1837.
To Marlin Van Buren, President of the United
St ate;;.
Sir, —At a large adjourned meeting held in
Independence Square on the morning of the 22d
inst. by the citizens of the city and county of
Philadelphia, without distinction of parly, the
late high-handed and arbitrary measures of the
banks of the city and county in suspending spe
cie payments was taken into serious considera
tion, and the undersigned were chosen a com
mittee to make known to you the opinion of the
citizens there assembled.
They cannot more appropriately and faithful,
ly perform this duty t han by enclosing to yon a
copy of the proceedings in which the resolution
fur their appointment will be found.
Tltey embrace the opportunity to declare the
great satisfaction they experience in being the
organ of a portion of their fellow citizens at
this important crisis, and beg to express their
entire concurrence in the views taken, in the
existing state of things. They feel confident
that the general government, in its patriotic dc.
termination toenforce '.he laws and uphold the
constitution, will find an equally warm, enlhu
siaslic and resolute support from the yeomanry
of the land, ready as they are at all times to
stand by Virtue, Liberty and Independence.
With sentiments of respect, we arc your
friends and fellow citizens.
FRED’K STOEVER,
ISRAEL YOUNG,
JOSEPH DEAN.
Washington, May 25, 1837.
Gentlemen, — I have the honor to acknowl.
edge the receipt of your letter, communicating
t«» me the proceedings of a large meeting of the
citizens of l lie city and county of Philadelphia,
without distinction of party, held in Indepen
dence Square, on the 22d instant.
It is gratifying to me to learn from those pro
ccedings, that the course pursued by myself and
those associated with me, in the executive
branch of the government, upon the important
subjects of the currency, foreign trade, and the
public lands, receives the cordial approbation of
so meritorious and respectable a portion of my
fellow citizens.
For this expression of their confidence and
good will, and for the accompanying pledge of
support and co-opcration in upholding the au
thority of 1 the constitution and laws, I beg you
to make to those you represent, my sincere "ac
knowledgments.
Thanking you, gentlemen, for the flattering
and friendly manner in which you have perfor
med the duly assigned to you, 1 am very respect
fully,
Your obedient servant,
M. VAN BUREN.
To Messrs. F. Stocvei, Israel Young, and Jo.
scpli Dean.
Washington, 29th May, 1837.
Gentlemen—l lake great pleasure in acknow.
lodging the receipt of your obliging letter of
the 261!i instant.
The spirited proceedings, a copy of which
you enclose, seem characterized by much patri
otic feeling and an ardent desire to preserve un
impaired many elementary principles of incal.
culable value.
Be pleased to return my thanks to your fellow
citizens, whose organ of communication yon
are on this occasion, audio assure them, that
next to a consciousness of honest endeavors to
discharge faithfully my duly on the exciting to
pics referred to, is the approbation of so large 1
and respectable a meeting, ready at all times to '
stand by the constituted authorities, and to up. 1
hold the “ Virtue, Liberty and Independence” 8
of our common country. h
AVith g eat respect.
Your obedient servant,
LEVI WOODBURY. J
To Messrs. F. Stoever, Israel Young, Joseph ?
Dean, Philadelphia. -tl
.IbsPABT«ENT CV StATS, 1
WAamSOTew, May 31st, 1837. y
Gentlemen—l have had the boner to receive
your letter of the 26th instant, accompanied by
copies of resolutions adopted by the citizens ol
the city and county of Pniladelpbia, on the 22J,
inst. 1 pray you to assure those by whose di
rections I have received those resolutions, that
I have sever doubted the good sense and ho
nest pattiotism of the great mass of the people
of the United Slates, and confide implicitly in
their unalterable determination to bend to the
control of the laws of their country, all persons
and associations, whether voluntarily formed or
incorporatecKby legislative authority. When
ilieir constituted agents falter in the perfor
mance of their duties, the simple and appropri
ate remedy is the substitution of those who are
more worthy of their confidence; a remedy
which will, 1 arn sure, be always promptly and
sternly applied.
I am, gentlemen,
With great respect.
Your obedient servant,
JOHN FORSYTH.
To Messrs. F. Stoever, Israel Young, and Jo
seph Dean.
AUGUSTA, GA.
TUESDAY MORNING, JULY 4, 1837.
&2r“Fqnal Rights" is received, and will appear
in our columns as soon as the author complies with
the rule of the office. Why does he feel reluctant
in leaving bis name with the editors? lie ought to
be aware that the knowledge by the public of the
name of the author of any communication being
left with the editors, takes from them much of the
responsibility of publication. While, if the public
knew that the communication was published with
out the author being known to the editors, the whole
responsibility falls upon them. The responsibility
under which we now are at present to the public is
sufficiently great: we can add to it only by our own
productions, and not by the productions of others.
We cannot be accused of avoiding responsibility,
when it is expedient to assume it, in any shape
or form whatever, but it must be a responsibility
for our opinions and expressions.
ftCrWe publish another letter from the New York
Correspondent of the Chaileston Courier.
Sir* We publish another excellent article on
banking, from the Charleston Patriot.
JKyThe legislature of Alabama have passed a
bill authorizing the banks to issue notes under the
denomination of five dollars.
&s”Tlie legislature of Virginia adjourned on the
24th June, after a session of twelve days. Six bills
were passed; and among them is the Bank Reliei
Bill, by which the forfeiture incurred by a suspen
sion of specie payments, is suspended until the Ist
of March, 1833.
£5“ When, sometime ago, we presumed to warn
the friends of banks and those connected with those
institutions, of a growing opposition among the gen
eral mass of the community, to the hanking system
of the country, our remarks were received with in
difference, and some of the opposition prints took
upon themselves the privilege of per erting them,
and misrepresenting our language and our argu
ments. At the same time we presumed also to re
commend to those who had the management ol
hanks, to be prudent in the course they had to pur
sue under the existing critical circumstances, and
to give such a direction to the operations of thcii
banks, as to satisfy the public, that those moneyed
institutions were in a sound condition, and tha
notwithstanding* a suspension of specie payments,
they were able to afforded those facilities and nc
cc'inmodafions in business trransactioas which thal
puh'ic had a right to expect. Our fears have un
fortui'a'ely been realized. Since vve expressed
them, public opininon has been heard in several o:
the Sta r-,', especially in three of the largest mem
hers of the Lotion, New York, Pennsylvania, and
Ohio. Meetings have been held in those States, at
which strong and explicit reso unons have been
adopted, in which the banking system and hanks
are denounced as dangerous to the rights and
liberties of the people, fin I pronounced to he un
constitutional. In those resolutions appeals are
made for. a uqited effort to put down hanks, and
prevent hereafter ihe gran ting of any charter foi
the incorporation of such institutions. We cannot
he mistaken in such declarations, and we rannol
shut our eyes to the effects they are likely to pro
duce. Let such a feeling spread thro ugh the whole
country, and the question which will create a divi
sion among the pooplc, will he “Bnnkt.” or “No
Banks.” And can vve not anticipate on wv'ch side
will be the majority? Will the friends of b.’.nks
and those connected with such instiutions, he able
to contend against the overwhelming majority
which will be arrayed against them, in almost every
State of the Union? When the question will arise,
and earnestly put to every citizen, if will be too
late to adopt conciliatory measures, and to agree to
a radical refoim in our system of banking, by which
our hanking operations would be made more agree
able to the people, and wot.ld remove many of
their prejudices.
The friends of banks, since the suspension of
specie payments, have lost a precious time. They
should have followed a more liberal course than
the one they have pursued. They, should have
made sacrifices to acquire popularity, and the good
will of the indifferent. By such a course they
would have neutralized the exertions of the enemies
of banks and the banking system. But all is not
lost yet, the friends of an effective, prudent, and mo
derate system of banking, can prevent the destruc
tion of the system which, if properly pursued, and
surrounded with proper guards, is no doubt con
ducive to the prosperity of the country, by afford
ing such facilities and accommodations to com
mercial operations as the resources of the country
demand. To accompli: h this object, vve have no
time to lose Essays on the subject should be
written by our ablest men, and widely disseminated,
in which the operations of banks should be placed
before the public, in a simple but lucid manner
exemplified with calculations and statements that
cannot be controverted. It can be very conclusive
y proved, that the banking system is so interwoven,
so intimately connected with our financial and com
mercial operations, it cannot, without material
detriment to ihe various interests of the country,
be totally destroyed; though at the same time it
w ill have to be admitted that the banks, as charter
ed by the States, have abused the powers with
w hich they were invested, and that the charters of
such institutions should be so amended as to guard
hereafter against any abuse of power. It might be
prov ed also, that banks prudently managed, w ith
a circulation confined to the wants of the commu
nity, for a regular course of business, can maintain
their credit without loss to themselves or to those
who have confided in their solvency.
By giving ample information of the various
operations of banks, and by explaining the altera,
lions w hich should be made in their charters, many
of the prejudices against such institutions might be
removed, and the formidable opposition exislino
and growing against them might be checked and
perhaps entirely neutralized, especially if the banks,
adopting a more liberal course, would show, by
theiroperations, that:hey have net exclusively in
view, the interest of the stockholders.
BRITISH PERIODICALS.
We have before us late numbers of the West
minster Review and .Metropolitan Alagazine, recei
ved from Messrs. Richards & Stoy. In the Review
vve have read with pleasure ivvo articles : one rela
tive to the Memoirs of Mirabt au, and the other on
Wraxall’s Memoirs, In the Magazine there are
many in.eresting pieces, which were written by
some of the roost distinguished British writers. It
will be recollected, that the editor of this periodical
is Capt. Marry at, now on a visit to this country.
The amount of tolls collected on the Pennsyl
vania Canals from the Ist November last to JOth
instant, was §241,874. The amount of Rail Road
tolls collected during the same period was §150,714,
and the amount received for water power was
§108,204— making a total of §500,794.
The Banks in the western part of the State of
New York have accepted the proposition of the
New York city banks, in relation to the mode of set
tling balances against each other. The arrange-
ment, it is confidently expected, raiM to pa*
jn the ciiy, all the Safety Fund Bank notes. .
JULY/ *
In the month of July the greatest revolutions hap
pened, and some of the greatest battles were fought.
On the 4th of July, 1776, the revolution of the
American colonies was consolidated by the Decla
tion of Independence.
The first remarkable event of the French revolu
tion happened on the 14tli of July, 1739.
The revolution and independence of the united
provinces of Holland, began in July, 1531.
On the 27th of July, 1830, the second French re
volution was accomplished.
On the Bth of July, 1397, the revolution which
followed the Union ofCalmar, placed three crowns
on the head of the Serairamis of the north, Margaret
of Waldemar.
On the Otli of July, 1752, the other Semiramis of
the North, Catharine, dethroned her husband, at d
commenced her splendid reign with an atrocious
crime.
'I he battle of Tiberias, fought the 3d of July,
placed the Kingdom of Jerusalem in the power of
the Infidels, and precipitated the unfortunate Lusig
nan from the throne.
The battle of Origna. fought on the 24th of July,
drove the Moors from Portugal, and made Alphon
se ihe Ist master of the kingdom.
The battle of the Boyne, on the 21st of July, in
sured to the Prince of Orange, the crown of Eng
land.
On the Slh of July, was fought the battle of Pul
tavva, which destroyed the power of Chatles the
12th, and established that of his great rival Peter
the First.
The 25th of July, Charles Martel gained the cele
brated battle of Poitiers, which put a slop to the
inroads of the Sarazins.
The 27th of July, Philip Augustus, gained the
bailie of Fouvines, which insured the throne of
France to him and his descendants.
The 2d of July, Napoleon took Alexandria by
assault.
'1 he battle of Aboukir w as fought the 2d of July,
1799, ami that ol ihe Pyramids the 25th of the same
month, 1793.
'Plie battle of Wagram took place in July.
The 2Sth of July, 1793, Robespierre was guillo
tined.
SPECIE PAYING BANKS.
In tbc following list of specie paying banks, taken
from the Globe, we have omitted the Commercial
Bank at Macon, in our State.
[From the Glohe.]
The follow ing list of banks that were paying spe
cie at she last a:iv ices, has been compiled by a irienti
from the recent statements made in various news
papers. it holds out great encouragement for oth
ers to go and du likewise, now the panic is so much
over.
We invite editors in all the States to add to, or
subtract from, ibehst, such as their own knowledge
in their own neighborhoods may render proper.—
The whole number is twenty-seven, or more than
one on an average to each Slate. Maine, Georgia,
and Ohio nobly take the lead.
LIST.
People’s Bank, at Bangor, Maine.
VVuido Hank, at Bella t, do.
Bella.-t Bank, do. do.
Mequinticook Bank, at Cambden,do.
Lime Rock Bank, at Thomas ton, do.
< onnecticut River Bank, at Charleston, New
Hampshire.
Roxbury Bank, at Roxbury, Massachusetts.
Yarmouth Bank, at Barnstable, do.
City Bank, at New Haven, Connecticut.
Brooklyn Bank, at Brooklyn, New York.
Bank of Rome, at Rome, do.
Patterson Bank, at Patterson, New Jersey.
Franklin Bank, at Washing.on, Pennsylvania.
North western Bank of \ irgu.ia, at Wheeling,
Virginia.
Insurance Bank, at Columbus, Georgia.
Bank of Columbus, do. do.
Central Bank, at Milledgeville, do.
Citizens' Bank, at New Orleans. Louisiana.
Consolidated Association Bank, at New Orleans,
Louisiana.
J.ouisv.lle Savings Institute, at Louisville, Ken
tucky.
Shawnee town Batik, at Shawneetovvn. Illinois.
Dayton Batik, at Dayton, Ohio.
Batik of .Marietta, at Marietta do.
Bank of Xenia, at Xenia, cto.
Ohio Trust ('oiupany, at Cincinnati, do.
1 ontiac Bank, at Pontiac, Michigan.
WESTERN AND ATLANTIC RAIL ROAD.
The progress in the survey of a route Tor tho
great western rad road, is contained in the following
information taken from the Milledgeville Federal
Union, of the 27th June.
“We are proud to learn from a letterreceived by
His Excellency the Governor, from Mr. Whit well,
one of the principal assistant engineers, that the
several parties of engineers, with the necessary in
struments, wagons, horses, camp equipage, &c. to
pn seeute With despatch the surveys of tlie route
for the rail road from the Tennessee to the Chatta
hoochee river, have left Augusta for Athens,
where they expected to arrive on Sunday last.—
, From that place, vve understand, they will proceed
i.ninediatefy to Warsaw 7 , on the line of Forsyth
anJ Gwinnett counties, and commence the great
work. Three parties will be in tbc field, on three
different routes, at ihe same time, and when they
shall have completed those, and others that will pro
bably be examined, the principal Engineer, Col.
l.oii", w ill he enabled to determine where the road
will he finally located. The Governor, as we un
derstand, will probably leave Milledgeville for
Warsaw, on Sunday next, for the purpose of giving
his attention to the work.”
on:o.
Large meetings have recently been held in many
places m Ohio, at which resolutions were passed,
approving of the specie circa ar, and condemning
the suspension of specie payments by the banks.—
In Cincinnati, at a large meeting of the citizens’,
held on the 12tii of June, the following resolutions
were unanimously adopted, toge.her with a pream
ble, which, in < nergetic language, represents the
feelings and motives that led to the adoption of the
resolutions:
Ist. Resolved, That the Constitution of the United
States confers upon Congress no power whatever
to charter any bank; that a bank so chartered is not
only unconstitutional but inexpedient; not only in
expedient but dangerous;, not only 7 dangerous but
virtually de: tractive of 3tate rights, and of all
our free institutions, and subversive of the princi
ples of our Government
2d. Retained, That wo have no confidence in any
thing as a circuiting m diuin.but gold ami silvcr.and
it it is our firm detei ruination louse all our endea
vors lo procure the establishment of such a medium
of circulation.
3d Resolved, That the paper credit banking sys
tem, which has been so often tried, has always
been found wanting; ihat so far from being adequate
to the purpose intended, it has been productive of
incalculable evil to all but designing politicians,
speculators, and stock gamblers, who desire to ac
cumulate fortunesat the expense of the industrioss
producing classes of the community.
4th Resolved, '1 hat this meeting has the most
entire confidence in the capability and unswerving
democratic principles of the present administration
of ihe General Government, and thal we will give
our support to tiie Executive in eveiy way that vve
may he called upon to act as citizens ol the t niled
Stales, to carry into execution the principles of the
Constitution, and the laws made in pursuance
thereof.
sth. Resolved, That vve highly approve of the
document called the 'i reasury C ircular, which
makes nothing but specie a legal tender tor the pay
ment of the public lands, attributing to it ihe salu
tary effects ol saving the public domain from the
grasping hands of speculators, preventing the ex
portation of specie to Europe, for the purpose of
paying to tiie creditors and stockholders of the
Pennsylvania Bank of the United tStaies, and of
speculating merchants whose overtrading has been
productive of so much mischief to the nation at
home, and so injurious to her ehaiacter abroad.
(ith. Resol red,'the vve believe that tha suspen
sion of specie payments by the banks has resulted |
from a combination of speculators, s.ock gamblers,
and advocates of the paper credit banking system,
animated and put forth by the Pennsylvania Bank
of tne I idled fetates, lor ihe purpose oi consummat
ing a long projected scheme lor breaking down the
administration of the General Government, by dis
organizing the c urrency, and throwing the fiscal af
fairs olihe nation into confusion, in order to induce
the people to ask for a national bank, and thereby
substitute for our present happy form of Govern
ment, a moneyed oligarchy, equally destructive of
the rights and of the true interests of the people.
7th. Resolved, '1 hat ihe principal argument of the
banks, and their friends, on tne expediency of sus
pending specie payments, being to prevent the ex
portation of specie to foreign countries, and the
suspension giving greater facility to that result, vve
believe it to be the imperative duty of the bank ,
at short periods, to give satisfactory evidence to the
public, that such is neither their practice nor inten
tion, and, at least monthly, to show that the specie
in their coffers is increasing, and their circulation
diminishing in due proportion.
Bth. Resolved, That the Legislature of Ohio, at
its next session, be petitioned to take early mea
sures to compel the banks of this State to resume
specie payments, to appoint eoimniseionerß to .ep*. I
amine *thetr, "affair*, to annul tile < charters of those I
found insolvent, and so reported by the commis- J
sionera-—u> oblige them to wind up their affairs, and
by one general Taw prohibit any bank from issuing
any bank note payable to beareron demand, or on
time, for a less value than twenty dollars; and to
refuse to charter or recharter any banks.
yth. Kesolred, That we view with abhorrence
every attempt made or scheme devised by legisla
tive or other means to protract the resumption of
specie payments by the banks—or their directly or
indirectly using their specie in purchasing their own
notes at a less price than they call for; and we bold
it as immoral, dishonest and disgraceful for direc
tors or stockholders of ba ks to purchase at a uis
count the notes of the banks of width they are di
rectors or stockholders, for th purpose of paying to
those hanks their debts due for loans made to them
by such banks.
10th. Revolted, That we hereby disapprove of all
legislative enactments legalizing an act of bank
ruptcy so glaring' as that of banks refusing to pay
their debts, or for the protection of banks against
the penalties provided in tlwir charters for the vio
lation of any of their provisions; holding all such
enactments as laws impairing llie obligations of
contracts, a - J therefore violative of the letter and
spirit of the Constitution of the I nited States ; and
we pledge ourselves that we will vote for no man
ns member of the legislature, who will not pledge
himself to oppose any such law it attempted to be
passed.
llih. Rexnh'ed, That we ran perceive no reason
why merchants or bankers are more entitled toilte
favor or partiality of Government than any other
class of the community, nor can we contentedly
submit to extra taxation, the produce of which is to
be apnlied for their especial benefit.
12th. Re olced. That we hold the case of a hank
refusing to pay its promissory notes in gold and sil
ver as in no way differing from that of an individu
al, both being equally amenable to thecourseol the
law.
13ih. Resolved, That the redundancy of paper
money so greatly enhances the value of all our ne
cessaries, such as food or clothing, as to induce for
eign manufacturers to throw into our country large
quantities of their goods—undersell our native man
ufacturers, and render onr proiecfon tar'll laws
nearly nuga ory: and as the bread stuffs of Europe
can be purchased there low for specie, and sold
here at high paper prices, a successful trade has
been carried on for some years, and our farmers
undersold in their own market,and specie exported
14th. Resolved, That the charge made against
General Jackson hy his opponents, for tampering
vvi'h the currency to the injury of the country is
false and unfounded; those who have tampered
w ith, and debased the currency,and thereby brought
all t lie present evils on the country, are to be found
among las enemies who have chartered rag banks,
and are at hi moment using all ther exertions to
have the real constitutional currency transported
for the benefit of foreigners, and would leave to
their country, in place of a sound medium of circu
lation, the papei of a thousand irresponsible and
insolvent banks.
13th. Resolved, That the gratitude of the people
of the United States is due to General Jackson for
the repeated warnings he has from time to lime
given them, in'his messages to Congress, against the
fatal consequences oi a paper circulating medium ;
and foi the efforts lie has made to furnish the peo
ple with a sound metallic currency of gold and sil
ver, in which if he had been seconded bv the -stale
Legislature, he would have had the pleasure of see
ing fully established on the day he went out of
office.
16ih. Resolved, That Thomas IT. Benton is en
titled to the gratitude of his country for his perse
vering endeavors to carry through Congress the
gold coin bill, the passage of which into a law has
secured to the country the materialsbf a sound cir
culating medium, and now only waits the extinction
of the rag system to take its place, and give to the
people a currency, the value of which cannot, be
raised and depressed at the mere dictum of bankers,
speculators, and stock gamblers ; and for his mas
terly exposition ofthe rag system, as well as his lucid
arguments to prove the practicability of our honest
constitutional currency.
17 h. Resolved, That Levi Woodbury, Secretary
of the Treasury, and Amos Kendall, i’ostmaster
General, deserve well of their country fur the able
and steady support which they have given to the
President of the United Stales, in having the reve
nue laws carried into effect, by having that revenue
paid in gold and silver:—while we fully appreciate
and approve ofthe motives of tire former in extend
ing the time of payment of duty bunds, for the ac
commodations of the merchants, who were - unable
promptly to discharge them.
ISih. Resolved, ’1 hat not withstanding those diffi
culties under which we suffer have he brought on
by circums ances and persons over whom we had
no control, we sincerely deprecate all resort to vio
late measures by which the public peace might be
endangered ; or to any measure of coercion not jus
tified by the laws; and vve pledge ourselves to each
other, and to our country, that vve will endeavor,
ns far as in onr power lies, to discourage and put
down all attempts at riot or insubordination—to
support and defend the majesty ofthe laws against
all disturbers of the public peace; and vvi.l promptly
give our assistance to the officers of the State and
General Governments, to prevent the violation or
invasion ofthe laws of either.
MR. JOHN Q ADAMS’ OPINIONS.
Mr. Adams was presented, recently, with an
elegant gold headed cane, made from the wood of
the old frigate Constitution, by a committee of his
constituents. The following is an extract from the
reply of that gentleman to the address of the com
mittee:
“We present, at tire present moment, a still more
astonishing and portentous spectacle to the world.
Without a dollar of national debt, vve are in the
midst of a national bankruptcy. From a Treasury
overflowing vviih fifty millions of dallars, our Gov
ernment nays in paper trash the wag. s ofthe clerks
in the public offices. The nation is insolvent—the
whole People is insolvent. You inquire if this is ow
ing to the conduct of the late Administration. 1
believe it is attributable to various causes, among
which the grant of the use of the moneys in the
Treasury to numerous State corporations, by order
ol the late President of the United States, without
1 authority oflavv, was the most pernicious. Having
said so when the deed was done, I can have no
hesitation in repeating it now that its fatal conse
quences are seen floating from the wreck ofthe
public credit. The use of the public moneys while
in the Trea ury, in the interval between the receipt
of them as revenue and ihe payment of them
ns public expenditures, to fulfil the engagements of
the nation, had been granted by law, to the Bank of
the United States for an equivalent. It never had 1
been of much profit to that hank, because the de
posites there had never been considerable at any
onetime. They never were suffered to accumu
late: for the moment a surplus appeared, it was
applied towards the discharge of the national debt.
It, was precisely at the moment when the whole
debt was paid off, and when the revenue was
doubled by the sudden and enormous increase of
the proceeds of the public lands, that the u.-e of the
moneys in the Treasury was taken from the Bank
ofthe United States, chartered by, and under the
control of Congress, and dribbled out in parcels to
suit favorite purchasers, to a multitude of State
banks, without responsible capitals, and wholly be
yond the control of Congress or of the executive
Government of the United Stales. Os the means of
information possessed hy the Government as to
their condition and credit, you may judge from the
recent circular adddressed to them by the Secre
tary ofthe Treasury, slating that he had learnt
their stoppage of nay meat from the newspapers.
But the ruin of the pecuniary concerns of the
naiion, the melancholy reverses of f nunc ami loss
of cha-acter among the w ealthy, and the loss of
daily bread to the lahor ng poor and their children;
the distress vve are witnessing among all classes of
the people, are not owing alone to the errors ofthe
late Adminis ration. '1 here have been errors of
the people themselves, for which they are now
atoning, and from which they can recover only by
their own energies. The tide of their prosperity
has rushed upon them in a tempest, till it overflow
ed th ir banks, and broke down their mounds Ail
history testifies, as the father of our race pro
nounces his lamentations in the Paradise Lost,
“Now 1 perceive
“Peace to corrupt, no less than War to waste.”
The unrestrained pursuit of inordinate wealth, and
the abuse of credit, especially by the agency of
banks, are the proximate causes of the catastrophe
tinder which we aie now laboring 1 believe a na
tional bank, chartered by Congress, with a capital
sufficiently large to control all other existing banks,
and to regulate tlie currency, to be the only practi
cable expedient for restonnirand maintaining specie
paymems; but 1 entertain doubts whether it should
be a bank of discount. With regard to this, ray
mind is not definitively mace up. I recline more
strongly to the opinion, that the suspension of spe
cie pay merits'by such a bank should not only ope
rate as an immediate forfeiture of its charter, but
be made a penal offence in the President and Di
rectors of the institution. The violation of moral
principle committed hy a bank in suspending spe
cie payments, is, in my estimation, not inferior to
that of fraudulent bankruptcy in an individual.
The right of any Legislature to authorize such a
suspension is questionable, and the repeal ol laws
expressly enacted to enforce the lulfilrm lit of con
tracts, at the very moment w hen they have been
broken, is a mockery of all moral pnncip.e and a
scandal to human legislation.
r From Ike Baltimore American.]
The Legislature of Upper Canada libs been called
together to take into consideration the present em
barrassed state ofthe commercial affairs of that
province, arising out of the suspension of specie
payments by the banks of the Limed Mates. The
Lt Governor, Sir F. Head, in his message on the
subject expresses a desire to leave the adjustment
of the matter to the Legislate e body, but intimates
=trong'v a preference in favor of the continuation
»f specie payments, as being calculated Jo ristoin f*
public credit, which he considers of more impoe- S-,
tance than the expense that would be incurred in
replenishing the stock of specie. A letter writer in
the New A ork American seems disposed to think
that the influence of the Bank Directors and com- igii.
mercial men in the Legislature will be sufficient to
bring about a suspension for a limited time, as w ith- BV
out it the usual facilities in procuring money must j
cease, or that they will procure the passage of a
law making bank notes a legal tender. It is re- H
marked that during the late panic, now over, al-
though there was a run on the chartered banks,
1 there was scarcely any demand for specie from
those upon the principle of the Joint Stock Com-
panics on England, in which private property is
made liable eventually for the debtsoflhe bank.
[COM MUNI GATED.I |T
Messrs. Editors: —l was much pleased at the no-
tire taken by the Sentinel the oilier day of the state
of our streets, lamps, &c. It is no unimportant part
of ev«ry citizen's duty to aid with all his abilities B
the execution of the laws, and to promote, as far as
may be, the welfare of the community. 1 would,
therefore, urge on the proper authorities, the neces-
sity ofenforcing the enactments of Council already
I in existence, and, if required, to make further laws,
for the regulation of ihe time and mode in which w
filth shall be deposited in the streets. However
diligent the street officer may be in the perfor-
mance of his duties, it is impossible for him to keep
the streets clean unless the filth be deposited at
staled hours, in heaps, and out of the usual track of
carriages. The cartman should also have a raka
with him, in order effectually to remove every par
tide of filth. Are’there any laws to regulate this
matter? And if there be, w hose duty is it to enforce
them? I trust that every member of council will
strive to have thorn executed, and thereby cmcli
orate the health of the city.
The street drains also should be more strictly at
tended to. It would seem that some plan might be
adopted by which they could be kept in belter or
der. In some of the streets, small wooden gutters
ate made to carry off the water, and they answer
well. That leading from the pump in front of Mr. £
Henry .Healing’s residence is a very good specimen, M
and has very much improved the street. It effec- 3 Sp
tually confines the water within certain limits, anti I Jos
maybe washed out whenever offensive, with the
utmost facility. I doubt not they would be much . Bf s
more economical than the present mode, inasmuch
as they would not require such frequent repairs.
But in attempting to keep away disease, we should
also look beyond the limits of the city. The Eea
ver-dam, that old enemy to our health, presents an '
aspect that indicates mischief, tin ess it be modified.
I have neverseen it as threatening, since the drains
have been established, as it is at present. Vet it
would oertnin'y require but little labor to carry off WE
its noxious waters.
Let, then, the fillli be carefully removed from the flk
streets, the street drains be improved, and the Bea*- W
ver-dam be well drained, and we will have no rca- B
son to apprehend sickness. X. V. Z.
Agricultural Fair —The Maryland Agricultural *
Society of the Eastern Shore give notice that there -U
will lie a cattle show and Fair held at Easton. Tab I
hot county, in the month of November, 1533, at M
winch premiums will be offered for tbu different va- -I
rietieg of Crops, Mock, Implements and Domestic .1
Manufactures.— Balt. American.
[From the Philadelphia U. S. Gazette.]
FLOUR AND GRAIN.
Something of the situation of the flour market fit
and the means for its supply, may be, inferred from li
the following extract of a letter written by a busi
ness man riNew York to a business correspondent
in this city. \\ hatever is the actual supply, the
case should he known, and lire prospects of the up- '
proaching harvest should he well understood. The vv
great, error in this country has been to await the v
consequences of a small crop, before orders are v,
dispatched to supply deficiences from abroad. In li
England scarcely a hundred quarters, more or less, .. c Ift
are ever miscounted in the anticipation of the corn *
harvest.
“A miller, just in from Lock port, N. Y. sixty mile 5 ’■
west of Koche.-ter, says no miller tin re lias either i B
flour orjw heat, and cannot get any; he has come I JB
hereto buy if he ran get good, and lay it down i Jk
there at £0,95 and $2. He says flour is selling for |£
4)10,75 in Buffalo, and $10,25 in ( leveland, and the |i
wheat he takes is to supply the town and neighbor--
hood of Lockport.”
iiANJI REPORTS—fllouthly Returns. J
Statement of the Funds of the Mechanics’ Bank, ■
on Wednesday', June 27th, 1837. B
By amount of property owned by this bank, viz:
“ Froniissory Notes and Bills
of Exchange, 1,169,622 51
“ Real Estate, 4,315 83
“ Balances due hy other 3
banks and agents, 57,956 94 / B
“ ('old and silver in vault, 171.655 62
“ Notes of other banks, 22,i6i 09—196,819 62 ||
$1,428,89] 89 I
To amount duo by this bank, viz : ft
“ Notes in circulation, 256,833 00 B
“ Balances due other '
batiks and individuals
for collections, 61,242 27 ’
“ Unclaimed Dividends, 3,744 00 '
“ Deposites, 69,514 55 « ft
A
Total amount due by *• 4k
this bank, 391,353 82 M
“ Surplus owned hy this
bank, after paying all »
its debts, viz:
“ Profits, 37,533 07 ,f
“ Capital Stock, 1,009,000 00-1,037,523 07 /»;
I gg
$1,428,891 89 4 |
GEO. W. LAMAR, Cashier. 4
JfCrTo be copied by the city papers. ■ A
State of the Bank of the State of Georgia, Branch at I '1
ugustn, Thursday', Juno 291 h, 1837. B c |
Promissory Notes, Bills of B I
Exchange, Ac. 475,114 93 V 3
The Augusta Bridge, 50,000 (;0 B I
Banking H< use and Lot, 12,000 CO I
Balances due by other I
Banks, 33,216 20 H f
Notes of other Banks, 96,570 00
Gold and Silver Coin, 205,493 00—302,063 00 4°
877,694 13 B|
Capital Stock, 450,000 00 jf
Amount of Deposits, 53,397 93 *^B&
Balances due to other Banks, 112,229 39
Notes of this Branch in circulation, 249,640 00 B'
Surplus—after deducting expenses, H
being amount of nclt profits since
Ist April, 12,420 86
877,094 18
I. HENRY, Cashier.
PBjßgm '•m&zssrrt
11Y EXPRESS 31 AIL. ' M f
fFROM CORRESPONDENTS.! i
OJice of the Mobile Commercial Register, } I t *
June 27. \ jN.
The Vrrea. —Tn onr Ins Iwe omitted to mention JU
that the Mexican Brig of War, Gen Vrren , sailed VS
from this port, with the Vaiutalia, on lire ICth. Or- t K
ders had been received here, hy the commander IB
of that squadron, to pav all her expenses, and K * |B
place her in the same situation as that in which 4B
she was when ihe capture was made. Lieut.
Moore, U. S. N. went out in lire Gen. I rrea, but r.o VT
• ither person from the squadron is on board of her.
We understand the commander of the Gen. f rrea +
declined hoisting the flag of Mexico, until he could B
communicate with his government. ’J he Brig, *
therefore, presents the singular anomaly of aves- BT
sel of war, sailing upon the high seas, without any- V
distinctive mark or characteristic, to show that she fft
belongs to any nation. 4; } j
From what we can gather from the course of our
government in relation to the capture of the Gen.
L rrta, it would seem that the act itself is to hedisa- |
vowed by the Government, hut r.oposithe ten- 1
sure is to*fall on Copt. Mervine. —Pensacola Guz.
MOBILE, June 30.— Ci tton. —Arrived this week ■
1459 bales, and exported in the same period 1896 M.
bales— reducing stock 437 bales, and leaving now |
un hand and un ship! card nut cleared, 11,52, bales. I
We have again to no ice an improvement in our ■
market, w inch is fully a j cent on all qualities. The I
reasons assigned lor this advance, are, the very ■
limited stock un sale, and the anxiety for remittan
ces in this shape. None of this w eek's receipts has ( :
been put in the market, in consequence ofthe un- J
favorable weather. Sales of the week are estmia- L '
ted at 1300 bales, at prices ranging agreeable to M
quality, from < to 104 cents ; the latter for good-fair; x.
principal sales at 9 a 10c. A\ e continue quotations |
for choice, remarking, that there is none on sale, but
that this quality would readily command our figures, .
and even a fraction more, could it be obtained. j
Liverpool Classification —Good and fine 111;
good fair 104; fair 04; middling 8s; ordinary, nomi
nal. H' J
Freights .■ —To all ports, excepting New York, are |
nominal: to that, brisk at quotations, viz : —To Li
verpool. Cotton, per lb. Id. a id.; Havre, fc.: Ne\y
York, ic.; Coastwise Ports, ic
I