Newspaper Page Text
by GUIEU & THOMPSON.
CONSTITUTION A LIST.
IBficeTn m\cintosii-stri;et.
from the .V. IF. corner of Broad-street
by Administrators, Executors, or
7 ltls , are required, by law, to bo bold on the
in the month, between the hours of
forenoon and three in the afternoon, at
tWlll'urt-House in w liieh t ho property is situate.
these sales must be given in a public
sixty nsvs previous to the day of sale.
NEGROES must be at public auction, on
Tuesday of the month,between the usual
at the place of public sales in the
gflHy where the letters Testamentary, or Ad-
or Guardianship, may have been
first giving sixty days notice thereof.
of the public Gazettes ofthis Slate, and at
Court-House where Snch sales
held.
r the sale of Persona! Property must be
like manner, forty days previous to
sale.
the Debtors and Creditors of an Estate,
published for forty days.
application will be made to ibo Court
lor leave to sell LAND,must be pub-
FOUR MONTHS.
leave to sell NEGROES, must be pub-
months, before nuy order absolute
by the Court.
MORNING MAKER 20, 1838.
conclude in this day’s paper the report
f ibf Commit Lee of Ways and Menus on the Cur-
to the House of Representatives,
deug, the Chairman. The following
Kflki.oriht bill accompanying the report,
meh wl ropy from the New York Courier & En
the express mail yesterday wc were
the sub-treasury lull was still under
Senate, but that in a few clays a vote
taken on the substitute offered by Air.
then on the bill itself.
a Bill to provide for the collection, snfc
train hr uud disbursement ul the public
Treasurer of the I’mted State®, in
of (’olnmhia, is to take charge of all pub
collected within the District.
Treasurer of the Mint, at Philndcl-
TrcuMiremf'the Rruneh Mint, at New
each of said districts, is to receive from
of the ('iisloms at said ports, nil bonds
collect the same; and to receive from
ol public moneys within their district!,
which they may collect,
lieu of the officers now employed in
cash duties nt the Custom Houses in
ichuMits, in the city of New York,
S. (~ and of the Receiver lor
ul St l.ouis, the President is to r»o-
Senate, an officer for each of tho Ciih
and for die bund Office, to he denomi-
Uteri ver," who i> to hold his office
unless sooner removed. The Public
the Custom Houses, are to collect the
iSHHßHliit.e*. and to collect the cash duties and
HHH|Pl<>.is(> charges, &c. The Public Rec eiver
id to perform all the duties heretofore
Kid of. the Receiver at the Laud Office, and
other money winch may be payable
HlfiMlt*'! Stales In that district
other Collectors of the Customs, or
ling as such, and all other receivers
money, shall continue, as heretofore,
0 money which may be payable to the
s witliiii their respective
tSEtj. S. Ml the preceding di sigo.itcd ■.Mirers, and
except hereafter provided, are
keep sntety, wi.flout loaning or rising,
\ collected by them, till ordered by
officer to iranstcr or pay out the same;
to perlbrm all duties as fiscal agents,
be imposed by Congress, by the Trea-
or by any of the Executive de-
agents for paying pensions, or making
j^^^Kir'cments.
I lie preceding enniiieruted receivers
all di-bnrsing officers ol every
are u> give bonds with sureties, satis-
Secretary of I he Treasury,
an early day nf er the passage of this
reiarv of tho Treasury shall require
ui conformity with the next preceding
collectors of public money, of every
District of < Olumbia, are to pay to
r of the I 'idled Stales, weekly, and
of the and receivers of pnb
-I*lll l.i cl ** I pin i and New < >rlcans, arc to
usurers of the Mint, in their respect
oly, all money coilecied by them,
bon i.- for duties taken at the ( ustom
and New Orleans, the
BBHHBg week, are to be delivered to thu Trca-
BBBk Mint in
ry receiver or collector of public
iiU ii from retaining any part ol sums
the purpose of pin iug office expenses,
BH < ompeiiMiliou, or Iho coilipeili ul
or debenliire eertificnles, nr lor any
all these payments arc to be made
'ldle Secretary of the Treasury may
public money from one depository to
the safely of llie public money, and
of llie public service shall seem to
nod for thu purpose of payment”
such “depositories o* he may think
io the public interest, or tu the pab
pi
BIC. 12. Ihe money in these depositories s!iall
as to the credit of the Treasurer of
9mm Males, and returns of the same shall be
Secretary in such manner us he may
money shall accumulate in
any depository, other thin the Trea-
I nited States, the Treasurer of the
mint, or the Public Receivers, to an
unsafe, the Secretary may di-
to be specially deposited,in a bank
fthe nr Territory, provided the bank wiil u-
it upon the terms prescribed in llie
special deposits shall be made up
depmites shall be strictly special,
are to be prohibited from making any
by way of loans, discounts, or in
or for any other purpose. The
furnish safes for keeping the money,
control of the Rank, and Boiueolli-
by tht. Secretary sf (he Treasury.
Nothing but gold or silver, or such
t*or other evidences of dehl, ismh d
States, ns may bo directed by law
cm I m payment of public docs, shad be
the Rank as a deposit.”
- h (b-posiis shall be credited upon
the Rank to the depository ; but shall
,3 without the express order of llm
"‘id no drall of the Secretary or Trea-
V shall be made upon Midi
a-
OrP-TA comn.ihsion, not cxcecdingoner iglnli
1,1:1 >’ l )e allowed the banks (or per-
duty.
Rank w i»hin the State or Territory
d to perform thin duty, then the Secre-
“llie same to the office of tin*
ol the Enited States, to the mint, or
01 or the office of either of the public
n* The S. rretary nr.y ex
l'< and accounts of the depositories to
)£• BNi|By tli** Ditlriil A'ornty or Marshal, re
rf the District, as olien us he deems
i;» _
v- The f.'olleetor, Naval OfTn er. and Snr
check upon the public receiver at Ros
rt‘York and ( iiarleston, and in other ports
Officer and Surveyor, as a cheek upon
is- <Y'-. to examine the accounts, and
le to the Treasury department.
«• B|B ; The secretary oi the Treasury, as soon
?:• to withdraw tie- balance remainin'/
f'» depositories, and coniine their safe
. » the depositories provided by this act.
on Ail officers charged by this act with
ut* of the public money, who shall
tp provisions, by loaning or using in any
> money, shall be deemed gudty «.'
ts shall he imprisoned not less than two
five years, and fined equal to the
embezzled.
After the 31st of December, 1833, onc-
duties and o.lier sums of money
)(11 United States shall be collected in the
n( j of the Enited Slates, and from and
0 f December, in each of the years 183'.*,
o [. 18-12 and 1843, respectively, an addi
.,f part of such debts and sums of money
collected ; and afterthc 31st Dec., 1813,
to the Government shall be “in gold
a Hr only, or in treasury notes, or other evi-
— .\ i, -A- .. ,
dcnces of debt, issued under the authority of the
United States. ’
Sec. 21. After the 31st December, 1543, all pay
ments made by the Enited States, or nuy of its
officers, shall be in gold and silver coin only, or in
Treasury no es, or other evidences of public debt
issued by the United Slates; and nuy officer vio
lating or evading this provision, shall be dismissed
from the public serv ice.
Sec. 22. The Secretary of the Treasury to pub
lish regulations, enforcing the speedy presentation
for payments of Government drafts; and indefuut
of presentation, to direct any mode of payment
which he may deem proper.
Sec. 23. The Public Receiver at Now York to
he paid four thousand dollars per annum; nt Bos
ton three thousand dollars per annum ; nt ( harles
ton three thousand dollars per annum ; at St. Louis,
two thousand five hundred dollars per annum;
nn«l not to receive any perquisites for official ser
vices under the penalty of fine mid imprisonment.
Sec. 24. Until the Government have built vaults,
Ac. the Secretary may contract with any Rank or
other institution or private individual, for the use
of a secure depository, in the aforementioned
cities.
Sue. 25. Authorizes tho Secretary of the'Trea
sury to provide suitable vaults, Ac. for the safe
keeping of the public money, ami appropriate ten
thousand dollars for that purpose.
Sr;r. 20. That ns assistants at the seven special
depositories, the Secretary is authorized to appoint
two clerks for the office oftheTrensuror; two for
the office of the Public Receiver at New York, and
one at Roston, Philadelphia. I linrleslon, New Or
leans and Si. Louis, at salaries not exceeding two
thousand dollars per annum.
Skc. 27. Repeals all acts or parts of acts con
flicting with this act.
[From the Globe A
REPORT ON THE CURRENCY, A NA
TIONAL RANK, AND THE ADV.AN PA
GES OF AN INDEPENDENT TREASU.
R Y.— Concluded.
Under the additional guards now proposed,
our losses, by public office rs, will bn diminished,
ami by separating our Treasury from banks, we
shall avoid that class of losaes altogether. Am
ple bonds arc hereafter to be required from all
who arc entrusted with public money. Collcc
tors and receivers are not to he allowed to pay
out money for any purpose, without an order
from tho Treasury. All money collected is to
he placed at once to the credit of the Treasurer
of the United Slates. For greater security,
transfers may be made from one depository to
another; and where there is no special deposi.
lory, depositea may bo made with banks under
the joint control of the hank and llm Treasury.
'To guard against fniida it is made the duty of
certain public officers in the different districts to
examine the money and accounts of those who
are entrusted with the public money, and the
Secretary may, at any time, appoint other offi
cer within the district to make special exami
nations ami returns. And, finally, should any
officer use or embezzle the money entrusted to
hriii, he shall ho convicted of felony, fined, and
imprisoned. Most of our custom-houses ami
laml-offices are already furnished with vaults or
sales, or both, for the preservation of the public
archives and public money; but, to provide for
every Hitch contingency, an appropriation often
thousand dollars is proposed, which is the only
new appropriation author!/ Iby the hill. With
all these additional guards for the collection,
safe-keeping, and disbursement of the public
revenue, the losses of Government, under the
proposed plan, will ho much h-sn than under any
other hitherto adopted, independent of our losses
by hanks and their paper.
The objection which deserves most considera
tion is, that a largo surplus might accumulate
in the Treasury, and operate injuriously upon
the banks, if it consisted entirely of specie. To
obviate lhis, the. {Secretary of the Treasury re
commends that any surplus above four millions
of dollars should he invested in stocks, to he sold
whenever the Treasury should want the money.
Aware of the imporlam e of providing against
an unnecessary surplus, f he committee have duly
considered tins proposition, but feed constrained
to reject if. The main object of tho plan now
proposed is to confine the 'Treasury exclusively
to the collection, transfer, and disbursement of
the public money by the mo l simple, ocouemi
cal, ami safe means. Ii is not designed that
the Treasury should either he a financier or a
banker, further than may lie absolutely iieccs
sary in the collection and disbursement of our
revenue. 'To connect it either with stocks or
hanks would l»c in mmpatihlc with this de. ign.
The occa.wmal investment of our surplus might,
also produce other « vils. Our dealings in mock
would ho anticipated by those engaged in that
trade, and speculations would ho founded on the
ffijclnationN of our Treasury. Congress too
would neglect one of its fi si duties, which is to
reduce our taxes whenever the revenue exceeds
llie wants of Government. \ permanent. law,
graduating our income to our (expenditure, may
be hereafter adopted, when nl! our duties are
levied ad valorem, as is proposed hy the am of
March, 1833, to lake ellhel, in 1812. Uut, for
the present, no investmen*, or any o herrm a un
is necessary, as we have no reason whatever to
apprehend a surplus. 'The twenty-seven mil.
* lions deposited with the Slates- is wholly una
vailable, the di !ii of the United Stales Rank is
payable m three annual iualalim nls, and the six
millions of suspended balances due from ihcde.
penile banks will not bo paid for some time to
come. Oar revenue, both from customs and
lands, is very much reduced, while our military
expen nt ores arc unavoidably increasing, and
further and extraordinary appropriations must
be made for the present year, and may he re
quired in 1833. The Treasury notes which
were authorized to he issued at the last session
arc receivable for public dues, and cannot he
re-issUcd. This makes a charge of some mil
lions on the revenue of the present year equal to
the amount of the notes received at our custom
houses and land office?. It is obvious that, far
from being a surplus, there will be a deficiency,
which must bo supplied either by a re-issue of
tho Treasury notes r<dot mod, or by an authority
; to issue others. Tin io is not tho least proha.*
hilily that our revenue, for two years to e one,
will bo equal to the wants of Government; and
if, for the next four years, it should he an Hi dent
I to meet our expenditures, and to redeem the
* Treasury notes which have been, or may he
: hereafter issued, it will he full as much as can
, be reasonably anticipated. In the mean time,
our tariff’is in a process of reduction, ami after
i June, 1812, the highest rale will he twenty per
cent, ad valorem, payable in cash. When if is
considered that onc-halfof our importations are
tree of duty, it is obvious that, so far from anti.
’ cipaling a surplus of revenue from this source,
r Government will be compelled to rely, more
r. than it has done hitherto, on its income from
public lands fir its support. The proposed
s warehousing system would also tend to keen
J lire revenue down, as merchandize would only
‘ be entered as it might he required for consump
tion. The Treasury notes required for the ser
vice of 1833 and 1833, will only be issued to di«-
. charge claims, or, as the money may be wanted,
s and any surplus which may accrue in 18 40 and
> 1841, will be immediately applied to their rc
* domption. In 1842 the ad valorem tariff takes
effect, and the balance in the Treasury will be
easily regulated by Congress. No surplus can,
~ therefore, he anticipated; nor is there the alight
cst foundation for the fear that the banks can be,
h in any manner, affected by an accumulation of
II revenue in the Treasury, whether it consists of
Y specie or Treasury notes. Such apprehensions,
1 for two years to come, wc know to be unfounded;
p for our current expenses and existing obligations
will require all our resources; the revenue must
(, he paid out as fnst as it is collected, and the
y balance in the Treasury must remain at its
e minimum. And there is no prospect whatever,
d for four years at least, of a surplus, whether col
lected in specie or otherwise, which can, in any
*’ manner, affect injuriously the trade, credit, or
J currency of the country. There is certainly,
I,] therefore, no satisfactory reason for providing,
i- this time, for the investment of a surplus
-*-■%. iriiifi^iWr e : -
which may accrue at some future period, not
now to be anticipated.
From the actual condition of our finances, and
the probable stale of our receipts ami expend!-
lures for the future, it is obvious, that Iho ques.
lion as to the medium in which our revenue shall
bo collected, must be, for some time to come, of
very little Importance, so far as it relates to its
practical operation upon the banks or trade of the
country. After the suspension, the Treasury
was compelled to collect the revenue, according
to law, in specie or in evidences of public debt,
and until there is a resumption of specie pay.
moots, neither Congress nor the Treasury can.
by any constitutional means, direct that it shall
be olhcrwiso,collocted. Some of the banks may
resume at an curly peiiod; but while there is ev
idently to little concert of action or harmony of
purpoi i- among ili, m, it would be unsafe to invest
the public money in the notes of any bank; and
when a general resumption will occur is not now
to be anticipated. Tho rejection or adoption,
there fore, of the measure proposed would not now
alter the medium of our collections, and could
not affect trade or banks. Its adoption, howev
er, would be so far beneficial, as it would trait
quilizc llie public mind ; while its postponement
or rejection would tend only to keep alive ima.
ginary apprehensions. The revival of trade de
pends upon its own and ample resources. I s
temporary prostration was produced by one of
its pol io lical e.vooss s. It is now in a condition
to start again with renewed energy, and all that
is wanting to give an impulse to the prosperity
of llie country, is the mutual an I concerted ac
tum of our banking institutions—the most. tlli.
e : ent agents of credit, when not associated with
the fortunes of parly, or the operations of Gov
ernment.
Piaelieally, the existing law and that now pro.
posi 1 is the same; and as this section ofthc bill
would be inojHTalive for some time, it might, on
that ground, lie dispensed with; but it m us great
importance to the Government and the country
that a permanent system should lu 1 adopted, and
most especially at a time when, from the actual
condition of our finances, ilw intro luclion cannot
affect any interest. The present is the most
proper lime to devise means gradually to take
from the batiks the power to make the public rev
enue instrumental in increasing tin' embarrass,
nit nls ofthc trading community, 'To use their
notes as a medium for our receipts andexpemli
litres, would as effectually defeat ibis important
object, as if we were to continue to deposile the
public nnmey with the bunks. Whether the
Government keep their notes in the 'Treasury
and use them for public purposes, or deposile its
revenue in banks, is wholly immaterial; for their
discounts would bo equally extended, and the
design of the separation equally defeated. The
only practical difference between the deposile
system mid the measure proposed, (if we are still
to keep and circulate bunk notes,) is that we
should, under the latter, be at the expense and
trouble of kieping an amount of bank notes in
the 'Treasury as a mere substitute for an equal
amount of batik deposiles which would exist un
der the former system, without any agency, risk,
or expense whatsoever, the banks would be ena
bled to increase their dividends by discounting to
the extent of the public circulations, and on (be
amount of their deposit cn in the'Treasury of the
United Stales. Under either system the t lovern
ment would find its 'Treasury precisely in tin
Name embarrassed condition that it was in May
last. As to the mere formality whether the
Government or its debtors shall draw the specie
from tin; banks, such an arrangement might be
made for the convenience of tho letter without
detriment to (ho 'Treasury, lint the permanent
deposiles of tie public money must e.onsi -l ofsp •-
eie or evidences of public, debt, and ail our pay
ments must be made in the same, otherwise the
object of separating the Government from hanks
is entirely ih seated.
When t he hanks resume specie paynientffthis
section will lake effect, but as it merely propo
ses a prospective reduction for six years, the pro
cess will be so gradual as scarcely to be fell.es
peeially in the present reduced state ofour'JVea
sury. At some future period when a surplus
may accrue, the effect of specie collections will
he most nulotary in moderating the excessive i«-
sut’of hunk n<>*( . at those p lints where a paper
currency is most exposed to explosion, and in
checking an abu/c of credit in its origin. 'Tin*
amount of specie which would be at any time
i quircd at all our land offices and etialoin-hons
es, would be insignificant in comparison with the
aggregate ofo ir mctaPic currency, which is now
estimated at eighty millions. A surplus of four
millions, distributed in our offices throughout
the Union, would be the maximum, and oik -
half of even that amount would he at. all times
rcprcsi tiled by Tn a my warrants and drafts in
circulation. No transle.s would ever be made
in specie from one point to another, (except a
limited amount for paying Home of the Indian
tribes) as transfi r drafts would bo much more
economical, convenient, and safe.
Instead of hoarding all the specie, or introdu
cing an exclusive metallic currency, the Govern
incut W"uld, at no time, require for all its opera
tions onc-Uvenlieth part of llie specie in the
country. The tendency of the measure would
he to increase the aggregate amount; hut wheth
er it should or not, certainly h » small a portion
might he spared for the ires of Governniet, when
it is for the great pn pus s of relieving trade
from its embarrassing connection with the pub.
lie money, and of protecting the 'Treasury from
periodically having its funds invested in irre
deemable bank no.es of variously depreciated
values.
'The public interest urgently requires at the
present session of Congress, some measure guard
ing more effectually I he collc' l ion, safe-keeping,
and disbursement of tie- public revenue. 'The
Treasury is embarrassed for want of regulations
• adapted to the crisis, and losses may result from
our neglect to provide for the security of the puli.
. lie money. Whether the rm ;isure he temporary
or permanent, some such as that proposed ought
to he adopted in I lie act mil eondrl ion of onr finan.
c-;8. Some lime, perhaps years, must elapse,
before even the opj o.tiinily w ill he offered, with
any prospect of success, of re-uniting our 'Trea
sury with hanks geneially, Sia'eor National.—
A National Rank is not now proposed, and when
ever it is, as it no doubt will he, it must encoun
ter an opposition not easily or readily overcome.
The dangers of such an agent ol Government to
the political institutions of the country, arc 100
well and generally understood, to warrant lire
expectation that we shall ever again adopt a re
rneJy worse than the disease,
i Tho proposition to renew the Slate hank dc
-1 positc sy-tern, after so recent an explosion, and
i in the present condition of our banking institu
tions, is premature, if not extraordinary. It
would seem to be time enough to discuss its ex
pediency after a general resumption of specie
payments; for, if now adopted, wc should have
, in a few months a deposile bank system in tire
1 East and an Independent 'Treasury in the West.
'This new deposile bank plan has all the vices
h and inseotnity of the one wc have been compel-
D led to abandon, with some additional provisions
, which render it far less acceptable. A league
of twenty-five banks, controlled, as it would be
i, inevitably, by some great institution at or near
f the centre of circulation and exchanges; with
f the power, in effect, to determine in what tnedi
i, urn our revenue shall be collected, and autliori
!; zed to discount upon the public deposiles, would
s be essentially a National Rank, with four and
t twenty branches, governing every other bank,
e and controlling trade and currency. Confirm
h ing the selection of these banks by joint rcsoln-
Iron of both Houses would lead (h annual strug.
I- gles for the patronage of Congress, ant!
y them still more deeply in the fluctuations of par.
>r ty. The demand proposed to bo made weekly
on other banks for specie would give special pri
r, vileges to this league, and the authority thus de
ls legated ‘‘to check overissues, and to preserve
.*■ -
AUGUSTA, GA. THURSDAY, MARCH 22, 1838.
I lie soundness oftlio currency" would confer on
ihc Secretary of the Treasury and this league of
hanks the extraordinary power of regulating, at
their discretion, the currency of the country.—
The further proposition to compel the Govern
ment to receive the notes of specie paying hanks,
was brought forward in the late Congress, and
is again revived. Hitherto, the Government has
enjoyed, under the joint resolution ofl 816, the
right, in common with the community, of receiv
ing them voluntarily, or demanding specie; hut
this right is hereafter to be sacrificed to enconr
ave the circulation of bank notes, and to ombar.
rass the Treasury at every revulsion. It would
vt least seem to he prudent to collect from the
hanks our six millions of suspended balances, be
fore we inquire into the expediency of agaio
placing the Treasury of the United Stales in
jeopardy.
Tile measure recommended by the committee
is the only one practicable, in (lie present condi
tion of our hanking institutions. It proposes
nothing new, either in onr laws or practice,
which is not indispensable to (he security of the
public revenue. It is no innovation—no expo.
fttnont. Fioirt the origin of our Government,
our own officers have collected, kept, and dis
bursed the public money throughout the Union.
I lie only change proposed is, that they shall
hereafter pay’ it over directly to the order oftlio
1 reasnty, and not, as heretofore, transfer it to
batiks, to Ire employed in commercial discounts.
1 his use, or rather abuse, of the public money,
was the great innovation of 1791, and origina
ted with those friendly to a Hank of the United
.Stales, It was an experiment of our own for
the benefit of that institution, atni was not in ac.
eerdancc with the practice of other countries.—
We have fell its disastrous effects, and we arc
now generally satisfied that, once discontinued,
it ought never to lie renewed. The oilier pro.
position to collect our revenue in specie, or evi
donees , rLl.i, >.< u» lii.ilo|tciiP>auu. ailXlll
ary to tin*, fust; for, without it, it is impossible to
prevent the hanks from discounting upon tho
amount of their credit in circulation and in de.
posilc for public purposes The measure in,
moreover, irresistibly forced upon the Federal
Government by Stale legislation., which, whelh
er constitutional or not, defies its power loregu
late both currencies by coinage. When we had
hut half (he number of Slates, hut few hanks,
and a Rounder currency, we might tolerate the
receipt of bank notes with safety; hut with eight
hundred hanks, issuing every description of pa
per, six and twenty different systems of hanking,
and a rapid increase of onr hank note circula
tions, this Government is compelled to confine
its receipts and expenditures to the only medium
which can he, hereafter, permanently common
to tho Stales. No improvement in our local
currencies can he anticipated. The States arc
governed by opposite parties, contending for
hostile principles of government, especially in
relation to currency and banking. The reform
which may ho effected in some, is more than
neutralized by the abuses sanctioned in other
Stales, and only contributes to make the opera
tions of onr complicated system more irregular
and more embarrassing to trade. Experience
has not Imre, us in England, produced partial
reform; for, in some, of our oldest States, and
where they have suffered most fom broken
banks, ami the violence of revulsions, they still
tolerate the most vit urns systems of'fianking.—
Under such circumstances, if not from choice,
the Fedora! Government is driven to the? necessi
ty of confining ilself to a medium which is not
regulated by State legislation, hut by the unal
terable law of the world.
Higher interests, however, than thoso of a
character merely financial, are involved in the
decision of this great question, whether the
Treasury shall be permanently separated fiom
hunks,or whether we shall establish a perpetual
union between the executive Inane.h of onr
Government ami the va t moneyed power of
the country. While watching jealously, os wo
should, every increase of Executive patronage,
and guarding, carefully, nor Treasury from Ex
ecutive control, wo should watch with even
more vigilance and apprehension the growth
and movements of a power which, when com
bined with the organization of parly, ami per
manently successful, must inevitably, not only
control onr finances, hnl govern tho country.
Without referring to earlier contests, the strug
gle of the last six years affords at least some i v*
idenco of an ambitious desire among those in
stilutions which are contending for the use. of
the public money and public credit, to share in
Ili>- administration of our national affairs. In
this gn at struggle the interests of trade, and
the welfare of ihc country, have been sacrificed
by the 100 zealous efforts of the political portion
of our bankers to perpetuate their eon.ml over
the National Treasury, and to secure forever
to themselves and their successors the profits on
the use of the public money and public ciedit.
Such efforts, when combined with political
views, might elevate to the Presidency a Chief
Magistrate who would eff el a formidable union
between the Executive and the immense hank
ing capital of the country, already amounting to
route than three hundred millions of dollars.
If wc arc now so much alarmed at the influence
of the Executive, with our limited revenue,
what may wc not fear when that powerful
branch of our Government i: sustained, not
only by the public Treasury, hnl hy a thousand
hanks and thousands of other corporations, con
trolled and directed hy a league of Slate insti
tutions with largo capitals, or hy a national
hank with a capital of fifty or one hundred mil
lions of* dollars.
Such arc the consequences involved in Ihc
issue which is now dividing the nation, and ag
itating its trade and industry. It would almost
seem that the honest efforts of some of our
hanks to produce harmony of action, and to re
sume specie payments, arc defeated to prolong
onr s, and to convince the nat ion
of the necessity of assigning the mo d important
powers of Government to the stockholders of a
National Hank. This contest should he ended
bv the prompt adoption of the measure proposed;
for trade can never enjoy a steady prosperity till
G jvernment and hanks aic independent of each
other. The public money should he applied to
public purposes alone, and the banks should bo
free to pursue their own prufkahlo course, with
out being embarrassed hy the f Hurts of a small
portion of their number employed as Treasury
agents, or hy perpetual struggle with the Ex
ecutive or Congress. Should tins contest ever
result in the triumph of an alliance of the Ex
ecutive and moneyed powers of the country, it
cannot be expected that a union r. o fearful in
its consequences, could be permanently success
ful. Patriotism would bo justly alarmed for the
fate of our political institutions, and for the ex
istonce of popular rights. Another and a more
powerful struggle would commence, which
would prove ruinous to trade, and might involve
the legislative privileges of every hank and ev
ery corporation in the Union. By continuing
this as an unsettled question, the trading and
banking interests will be exposed to ail the vi
cissitudes of party, and engaged in a perpetual
war, unprofitable to themselves, and ruinous to
the country. By adopting tho measure pro
posed, and making it our permanent policy, ev
ery branch of trade will be left to move on un
disturbed hy our national political contests, and
the Executive branch of our Government, would
he separated from a power which, when united
with it, is the most dangerous to our free institu
tions and to our Confederacy.
The committee, therefore, respectfully submit
the measure to tho consideration of the House,
sincerely hoping that, whatever difference of
opinion may exist as to the details of tho bill,
r “lis essential principles ybe adopted in sonic
form ; that this at least, amonf many agi
tating questions, may be put to rest, Inal regula
tions so necessary to tho safety of the public
» money may no longer be postponed; and that
~
wo may, by a thorough separation from hanks,
secure, at all times and under all circumstances,
an Independent Treasury.
HY EXPRESS MAIL.
[FROM OUll CORRESPONDENTS.]
[From the Baltimore American, March 12.]
FROM WASHINGTON.
Onr special correspondent transmits to us (he
following notice of yesterday’s proceedings in
Congress:
; WASHINGTON, MARCH 10.
| UNITED STATES SENATE,
The Senate chamber was filled ibis morning
with the beauty, fashion and intelligence of the
1 ci l3 r , to sec and hear the expected sally between
1 Mr. Clay and Mr. Calhoun—Mr. Calhoun being
entitled tothc floor. The debate commenced at
: one o’clock.
Tho morning hour was occupied in the usual
miscellaneous morning business.
; Mr. BUCHANAN presented a memorial from
a citizen of Philadelphia upon the subject of the
currency, proposing a plan for a national Bank,
' the stock to be owned by the different States in
the proportion of their delegation in the House
| of Representatives—Tho drafts to be endorsed
by tin* respective Slates ami become the curron
; e.y of the country, 'flic capital at first to he
$70,000,000, and afierwards to be increased to
$150,000,000, and after that to be iicreased at
the rate of two per cent, per annum.
Mr. Buchanan commended the ingenuity of
Iho pet ilition, but said it hail failed to convince
him, &e. The memorial was ordered to he prin
ted and referred to the committee on Finance.
Several Bills wore finally passed.
SUB-TUEASURY HILL.
Mr. CALHOUN said he rose in fulfilment of
a promise which he had made when he last nd-
Otess'fMl the Sf'imifj to reply in his rr.v ujrru* 't/■
me tothc reply of the Senator from Kentucky.
' lamat u loss to believe, continued he, whether
! it is must remarkable for its omissions or its
mistakes. Mr. C. said the Senator from Ken
’ lucky had misrepresented him in almost all that
Ik* had said in ins opinions against tho substitute
of Mr. Rives—the hill before the Senate—and
’ the Bank oftlio United Stales. Mr. Calhoun
then specified these misreprtrentalicps, ns he
' called them, which Air. Clay had off.-red to his
! remarks.
The Senator from Kentucky, continued .Mr.
Calhoun, I bought proper to ini rod nee certain per
-1 sonal allusions, I will not pass hy mmo i ed.—
Wc are sent here said Mr. C. not to wrangle hut
to attend lo public husinets. Bit no caution on
1 my part could prevent me from being answered
in n personal manner.
Hu has made a gratuitous and personal assault
on me. Hu asserted that 1 expected aid from
the opposite parly, ami this was the reason why
I had gone over upon the opposite side, or left
his party. I cannot, said Mr. C. attribute a love
of personal abuse, —for the character of the Sen
ator forbids me to do so, —as the reason why he
thought proper to answer me in the manner he
did. I cannot believe t at he did it with a view
: to intimidate me. The Senator knows me too
well lo believe that 1 can lie intimidated. 1 re
present a constituency as respect able as those
* represented hy the Senator, and I can find hut
one motive why the Senator referred to mo in
the manner ho has done. The Senator, despair
’ ing of overthrowing by bis argument wry argu
ment, has resorted lo personalities, in the hope
1 that they would answer my orgnnf nl.
Viewed in this light he intends them as an an
swer in part to my argument. 'The Senator has
imposed upon me a double duly, and before I
have done 1 shall place my character as far a
hove the shafts of the Senator as, my argument
1 was above his ability to meet it.
Mr. Calhoun here went on, as he said, lo give
an outline of the principal events in his past his
tory, to prove that he had been a consistent man,
and in tins part of his subject lie called upon the
i Secretary of the Senate to read in a loud and
distinct manner part of a speech made hy him
in 1831. Mr. Calhoun also called on the Sen
-1 ators as his judges to listen to his speech, as lo
■ ids opinions of himself. Mr. Calhoun was very
interesting, except when reading, and having
read columns of old speeches made, years gone
• hy. Mr. Calhoun, however, said that ail these
• necessary, in order to prove that
he had not gone from one side lo another. He
• t wished lo dear his skirts from any sudi charge.
I Thu extracts were the longer part of Mr. Cal
-1 hoards speech.
1 Tho reading of oMspcccbiP'having been gone
* through, Air. Calhoun wind on in continuation.
• He averred that he had heeq consistent —always
1 her n consist* nl —and no man had been more so
thaji himself. Ibis ride of action had been con
sislency, and yet the Senator when Ins eonsis
-1 tency was upon record, ami had been proved hy
■ the speeches which had hern rea l. —said he had
\ gone over—and changed sides. Bid my course,
1 as has been seen, is consistent, and his charges
1 fall to the ground; from written testimony 1 have
proved my consistency, ami I think 1 have cs
* eaped victorious.
Mr. Calhoun went on lo answer that part of
' Mr. Clay’s speer h which quoted from Ids Edge.
> field letter in answer lo an invitation lo partake
of a public dinner. In that letter, as yon may
remember, bespoke of Ihe suspension of specie
I payments ami the important and political even's
of the day connected therewith. Air. Calhoun
made a party question of it, and made his re.
' marks, —some of them, at least,— of a party
character. Mr. Calhoun, however, had one ot
the extracts read, and then with a hurst of ex
i citcment said, that the charge of the Senator
■ falls to the dust, and there I trample it clown
with scorn. The dart thrown harmlessly at my
feel, and 1 pick it up and throw it hack.
Mr. Calhoun then went on and said that, he
: had not left the party ol which the Senator from
Kentucky was a distinguished member. He had
not left that party, for he never belonged to it,
i although he had acted with it. I belong to no
I parly except the old Republican parly of’9B—
to Ibis and none other. I support all parlies who
I support that, parly, and 1 oppose all patties who
i oppose that.
» Mr. Calhoun then addressed himself lo the
‘ friends of the Administration in the Senate.—
Your principles will triumph, said he; your hill
I will be victorious and you triumphant, if you
7 have a careful eye to the finances of tho country.
Mr. Calhoun then spoke of his own inlcllee.
r tual powers in answer lo Mr. (-lay, who had
- called Mr. Calhoun a metaphysical man. Mr.
t Calhoun said he could not accuse Mr, Clay of
i possessing this high power. In its absence and
■ in tlie want of it ho acted under the influence of
; lighter and more flighty qualities of mind. He
chose the specious to the true—the apparent Io
' the real—the fanciful to the sound.
1 Mr. Calhoun said that he had been nearly
2 twenty-seven years a public man, and lie had
- been consistent and uniform from that time to
r the present, lie came into public life at an car.
1 ly age, and had continued in public life ever
■ since. He came into public life when Mr. Aladi
-1 son was Chief Magistrate, and during the war,
) and Ins speeches then were proof that he was a
- practical and consistent and sound man. From
- Congress I passed to tho War Department, and
I found that Department embarrassed and disor
-1 ganised, and soon pul it in good order and placed
J it in a flourishing condition. From this Dc
-1 partment I was made Vice President, and then
- I rallied to the only man whom I thought could
arrest the abuses of the country. I was inista
t ken, and since then I have as before proved rny
i self a consistent man.
f I have now repelled the charge, and as I think
. cancelled tho debt between mo and the Senator
from Kentucky. Mr. Calhoun here concluded,
and all eyes were immediately turned upon INIr.
- Clay.
c Mr. CLAY at once arose, and said, that but
t for the present interesting occasion, he should
■mbssssoh
VOL. XV.—YEW SERIES, NO. 40.
not have appeared in his place. His health was
not good, and he was much indisposed. But as
I am, I arn—sc If. pie pa red, and self-poised. ]
do not ask two or three weeks to prepare and
concoct any speech in reply to the Senator from
S >uth Carolina. The Senator began his re
marks by referring to the omission in his written
speech.
Here Mr. CALHOUN intr.iTerrrd, and said
that he should like to interrupt him, for he did
not mean to say that the Senator had omitted
any thing.
Mr. CLAY said that he had not interrupted
the Senator, and he wished not to bo interrupted.
Mr. (-lay went on and complimented the unques.
lionablc talents and ability of the Senator.
Mr, Clay then said, that all the complaints of
the Senator in regard to bis speech were in fact
not that be bad unstated Ins arguments, but that
hi' had not given all the circumstances stated.
W ell, continued Mr. C., he complains that I
accuse him of inconsistency when he says that
duties should he received in gold and silver and
nothing else, and yet consents to receive Bank
paper for six years. A National Bank is not
unconstitutional when yon give it a charter for
six years. It. is not unconstitutional when you
give it a charier for twelve years, hut you must
not give it a charter for more than twelve years,
for that would be unconstitutional! Mr. Clay
then enumerated Mr. Calhoun's speeches, votes,
and opinions pro and con upon the subject of a
National Bank.
Mr. Clay then spoke of the E Igcfield letter,
and said, when 1 saw this letter I could defend
I the Senator from South Carolina no longer.—
When I saw his remarks upon the friends with
whom 1 act, and have acted, 1 could have con
fidence no longer. Even afier his change, I did
defend his motive, hut when the Senator says
that he neither co:,fules “in our firmness, our
wisdom, nor our patriotism,” and yet after delihc-
>j ... . i , i uvi. -viuiciv runn
ing it away—after declaring that he neither
confided in our wisdom, our fn mners, nor our
patriotism, and yet acting with ns who are s»
unwise, and so weak, and s » unpatriotic, for the
long period he did, he goes homo and denounces
us. But, continue ! Mr. Clay, the Senator is
always ri'dil, and every body else is always
I wrong. His (bnn.ier is always right. Even
body’s thunder bid bis is always wrong.
Mr. (day continued, and animadverted in
strong 1 1* rms upon tin; position of the Senator—
traced bis wandering course through all bis po.
hlical labyrinths, and said be should leave all
companion between the Senator’s spe-< h and
his reply by refeiring those who chose to set
thorn to the sp< ei lies themselves. They were
both before the public—deliberately put there—
and those who chose to be arbiters might judge
for themselves. No man, said Mr. (db»v, is mote
averse to personal controversy than I am. The
duly 1 had to perform with him was a painful
one, and even after his extraordinary summer
set from one parly to another, upon more oeea
sions than one, when attacked I defended his
motives.
Tin Senator from South Carolina, continued
Mr. like some other propin Is, predicts very
well afu r the occurrence has happened. In
some of his late speeches foretelling future
events, he has forgotten what he said. H e has
forgotten that lie once—and in 1831—violently
opposed the .mb.Treasury, and was willing to
give a twelve years* charter to the United Stall s
Bank. The Senator says abo that he has quit
our party. Now, said Mr. Clay, I pql it to the
Senator himself, and ask him if it is not too
much to ask of (he public to believo that nil the
Whigs have left him, and all the supported* of
the Administration have gone lo him, while he
has stood unmoved where he was, without
change of position or of principle; ami yet be
would argue here that he alone has not changed
while every body else has changed. We, he say- ,
are unwise, unpatriotic, and without firmness,
while he is wise, firm and patriotic.
Mr. Clay continued and sail, I : hull animad
vert and eomiui n!, and reply (•» the public, acts
of the Senator from South Corolina, and I shall
do it under all the responsibility of my station.
When ho does as be lias done—speaks as lie has
spoken—he mu I and shall be relinked for tin
course ho pursued. He deserves it, for no man
has been more better in hisdemmei.il ions— more
variable in bis course, or laid so much claim to
consistency ofehafactor.
Speaking of Mr. Calhoun’s patriotism, Mr.
Clay said, J am afraid the political g ograply\
of Iho Senator from .South Carolina docs not
mean much. I am afraid that his patriotism
mean* the South—that his South means South
Carolina, and that Smith Carolina is no more
Ilian Fori Hill in South Carolina. When a man
lays claim to bo much, he generally has but lit
tle; and when a man questions lie want of pa
triotisin and firm ness of a whole parly—the in
ference is fair that he has not 100 much himself.
Referring to some of Mr. Calhoun's remarks
about bribery and corruption—intended nsn per
sonal insinuation—Mr. Clay said il'ihc Senator
fom South Carolina wished to rake up the old
story of George Krernrr, to rover bis own na
’ kodnoss, he was welcome. Mr. Chiy then at
length explained and defended his vote upon that
occasion. [Mr. Adams, the venerable Ex-Pre
sident, was beside Mr. Clay, and Mr. I’ope who
Comes from bis district, sat before him ] Mr.
(’lay said that he had never regretted and
should never icg et the vole he then gave.—
ii was one of the proudest reflections of his life
that he had contributed in noway lo elevate the
late Executive of the United Slates. The vote
he hail given for the respected and venerated
man beside him had the approval of his own con
science, and the approve I of the people he in
part represented. They had lime ami again
sanctioned his vole.
Mr. Clay continued, and said that when llr-
Senator from South Carolina undertakes to
prove 1 1 is consistency, ho will undertake
prove something which cannot be proved. He
i lias not been consistent as I have proved and
can prove again.
» In conclusion, Mr. Clay said the Senator has
i allowed himself to use some epithets which arc
not customary in deliberate bodies, as “scorn,”
Li answer, 1 have none of these epithets
to hurl, and I can assure the Senator that I re
ciprocate all that he bus said.
The debate was furihcr continued by Mr.
CALHOUN in repeated retorts and rejoinders,
and by Mr. PRESTON in reply to some re
mark* made by Mr. Clay in regard lo Nullifica
lion.
HOUSE OF REPRESENTATIVES.
The House of Representatives adjourned at
half past four o’clock, doing no business of im
portance. All the members nearly were in the
.Senate Chamber.
WASHINGTON. March 12.
UNITED STATES SENATE.
< Mr. BUCHANAN presented a memorial from
P ■ niißylvania against the practice of duelling.—
Tile m unoriul was read, ordered to be printed,
and laid upon the table.
Mr, WALL, of N. J., presented a memorial
from Newark, N. J. upon the subject of the laic
duel in the District of Columbia, and dueling
generally. The memorial and the proceedings
of the meeting in Newark were read in lull, or
dered to be printed, and laid on the table.
Mr. CRITTENDEN presented a number of
resolutions from the legisla ure of Kentucky, ex
pressing the opinions of that Legislature am) of
the Slate of Kentucky upon the subject of the
currency.
After some miscellaneous business, the order
of Ihe day, the SUB-TRLARURY BILL, was
called.
Mr. WEBSTER being entitled to the floor,
commenced his speech in opposition to the bill,
which be bad not finished when the mail closed.
HOUSE OF REPRESENTATIVES.
[ Petition day in the Housg—(h? USU*I budget 1
5 presented on the usual subjects and sonic others,
A great many against duelling—some for a Na
-1 tiunal Bank—some in relation to the Schlossor
I outrage a multitude on the Slavery question,
i Nothing of importance was said or done.
r,«, m r,P SH[NGTON ' March 12.
t NIT ED STATES SENATE.
The usual morning business occupied the So.
nate the usual morning hour. Reports, memo
rials, and resolutions were presented, Jaid upon
the table, passed, referred and adopted.
Among t ile memorials presented was one from
the Now York Typograpieal Society, remon
strating against the passage of any new law up
on the subject of a copy right.
Mr. 111 PE, from the Committee of Indian
Affairs, reported a bill supplementary to the
Acts of 1834, for the organization of the Do.
partinent of Indian Affairs, lo regulate the in
lercourao with the Indians, and to provide for
Ibo peace ol t lie frontier. Read and ordered lo
I a second reading.
After some miscellaneous business, the SUB
TREASURY BILL came up, and Mr. WEB
-81 LR resumed and concluded bis speech.
Mr. ROBBINS, of R. 1., moved the adjourn,
ment, and has the floor to-morrow.
HOUSE OF REPRESENTATIVES.
In the House the North-Eastern Boundary
Message, Bills, &c., were referred to the Com
miilio on foreign Affairs, and the remainder of
the day was consumed in the consideration of
•mu of the regular Appropriation Bills.
WASHINGTON. March 14.
UNITED STATES SENATE.
Mr. NORA ELL, of Michigan, introduced a
resolution declaring it as the senao of the Senate
that no one concerned in a duel ought afterward*
lo be appointed to any public cilice under the
United Slates.
mr ood-i unArunvx mijLi came up at
om* o’clock in form and order
Mr. ROBBINS, of R. 1., being entitled lotho
floor, addressed flic Senate for about an hour, in
opposition to I lie bill. He was billowed bv Mr.
REN ION, who lias begun a lung speech which
be lias continued for three hours without giving
way.
The HOUSE OF REPRESENTATIVE'?
was engaged during the day upon the Appropri
ation Bill. Iho morning business was unim
portant. 'I he Appropriation Bill was not dis
posed of even in the Committee, and of course
\\ ill not bo for many days to come. Nothing of
interest was said or done.
WASHINGTON, March 15.
U. S. SENA TE.
J lie Secretary of the Treasury and the Post
Master General, this morning, answered the call
ol the Senate and sent all the correspondence
between them and dm Metropolis Bank to tho
Senate. Tli • call was made by Mr. Niles, of
Conn., an I dm report is ordered to he printed.
Mr. BU( HANAN, of Penn., presented tho
proceedings of a public meeting jn Philadelphia
County, hoblen by die friends oft lie Administra
tion, —the I )cmoeralic friends of the Administra
tion,—as the meeting has been called. Mr. Bu
chanan, in presenting the rnemoiial, which was
in the form of a preamble and resolutions in fa
vor of the Sub-Treasury Bill, said he had but a
single remark lo make in presenting these pro
ceedings. From all accounts ho did not doubt
bn! that ilie meeting was an immense one—and
all bough a small and highly respectable portion
ol the Democrat ie parly of Philadelphia City and
County were opposed hi the Sub-Treasury Bill,
he believed, and had no hesitation in saving, tbat
a very large majority of that party were highly
friendly to ibe measure.
Mr. I IP ION. during the morning, present
( d, from Brooklyn, N. Y., a memorial against
flic Sub-Treasury Hill ami in favor of a Nation
al Bank.
'J he Clerk of the House then appeared and
announced the proceedings of the day. There
upon
Mr. RUGGLES announced the death of Mr.
Carter, ol Maine, in u brief and solemn culogi
um.
HOUSE OF REPRESENT A TIVES.
As soon as the Chaplain of the House had
made the usual morning prayer, and the Jour,
na! of yeslerdav’s proceedings was read,
Mr. EVANS, of Me., lose and ami* nneed tho
death of his friend and colleague, Timothy J.
Carter, of Maine. As a token of our regard
for Ins many virtues, and of our respect for hi*
memory, I move the adoption of the resolution*
win h I now submit.
The usual resolutions were then adopted of
wearing crape upon the left arm for thirty days,
and a joint resolution was adopted, to attend tho
funeral at ten o’clock on Saturday.
COLUMBIA, MARCH Vi.—Our Rail Road.—
Yesterday was n proud day for Columbia, nnd for
ilio Slate. The first ground has been broken in
ibe great enterpri/.o of the Louisville, Cincinnati
and Charleston Rail Rood ! Agreeably to public
notice, n Procession was formed m 10 o’clock yes
terday, in front of ibe Slate House, under the di
rection of Col. R. ll.Goodwyn, as Marshal of the
day, in the following order:
1. Uniform Companies of the Town.
2. City Guard.
3. Governor of the State nnd suite.
4. President, Directors, and Engineers of th®
Company.
5. Clergy nnd Theological Students.
(». Stockholders of the Company.
7. lntcndont, Wardens nnd Officers of the Town.
H. Judge, Officers and Jurors of the District
Court.
U. Officers and Students of the Souih-Corolina
College.
10. Tcnebersond Students of the Male School*.
11. Citizens of the Town anil Country.
12. Committee of Arrangements.
13 Cavalry of Richland District.
The whole was followed by a large number of
carriages and citizen cavalry. On arriving at the
ground, the Richland Rifle Corps, formed a hollow
jqimre aromiil the staging erected for the orator,
and after the invocation of the blessing of Pi evi
dence, upon the work, by the Rev. Dr. Lcland, the
President of the Company, Robert Y. liayne,
Esq. addressed the meeting in on appropriate ond
patriotic speech prepared for the occasion. After
the address the President set the example of throw
ing up a shovel full of ground, which was followed
by all who were near enough to partake of that
honor. The assemblage was altogether the larg
est one we have ever witnessed on any occasion
in Columbia, and comprised all the beauty, patriot
ism, talent ond wealth of the surrounding country.
Our limits nnd lime will not permit us to make even
a synopsis of Gen. Hayne s chaste and beautiful
address ; but ho has promised a copy for publica
tion next week.
mA
Extract of a latter received in this city from an
officer of the army, dated,
Port Mellon, E. F., Feb. 10th, 1833.
“Report soys that Coacoochee (Wild Cot) is
now on an island In the most extensive Juke yet
di.-eox ored in Florida, called'Okecchoohee. It is
no distant from the. shore us not to bo visible. Here
lie has collected his women and children. Two
hundred head of cattle were taken on tho 28ih of
January by the army. The Indians appear deter
mined lo fight to the Inst; so the war is no nearer
to its termination, to all appearances, than when it
first begun.’’*— Snv. Georgian.
APPOINTMENTS BY THE PRESIDENT.
Dy and with the advice and consent of the Sennit*
MARSHAL.
Alexander Hunter for the District of Columbia.
ATTORNEYS
John E. Ward for the District of Georgia, in the
. place of William 11. Stiles, resigned.
William M. Price for the Southern District of
New York. „ , , .
John (’ox to he a justice of tlie pence for the
county of Washington, in tho District of Columbia.
petit gulf cotton seed*
Shave a few hundred bushels of the nbovo
Cotton Seed, which is genuine. Planters who
desire to improve the Cotton crop, would do well
to call immediately. Also, n small lot of unmixed
Nankeen Colton Seed, for «al®.
Ftb. 13 86 A CUMMIN. ,-j