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HV OUIKS 4 TII»W*0»' AUGUSTA, GA. TtBSDAV MORNING. SSPIMBEB 31, IS4O. VO 1,. XTIII.-NBW SERIES, NO. SI.
Holiday Horning, Wept. 21 f I*4o.
FROM NEW YORK,
AM) I.ATER FROM LIVERPOOL.
A\> rereived no mail lastevening nortli of Charles
ton, hut are indebted to a passenger who came
through for a Nevr York Sim of the 16th, which
•♦•ontains advices from Europe to the 14th ult. brought
to that port by the packet ship Garrick, which will
he found in another column. The cotton market it !
will he seen has improved about id to Jd.; and do- j
sed with a good demand.
The same gentleman informs us that the British |
Queen was telegraphed below when he left New
York, so that we are iu hopes of giving later and
■better new’s in our next.
M AINE ELECTION.
The only news we have from the Maine Election i
is contained in the Boston Evening Transcript of
the 15th inst. It is a rank whig print, and we must
make some allowances. That paper says:
“The annua? ejection in the State of Maine took
place yesterday. The Steamers from Portland and
Kenneheck have brought returns from fame 25
towns, which give a large \\ lug gain. Both parties
have made unprecedented exertions. The V\ liigs |
are quite sanguine that they have the State Senate
14 to 11. In the House, so far as heard fr >m, there
is a large Whig gain. For Congress, Fessencer
(Whig) has about 200 majority over Smith, Van j
Bureu,in Cumberland district. The Whig gain for
Governor in 17 towns in Cumberland county, is
about 1000. The Portland Advertiser Extra, says
—the Senator in Cumberland district is elected by
about 300 majority, which decides the complexion
of the Legislature and will secure the election of a
IT. S. Senator.”
A letter to the Postmaster of this city, (says the
Baltimore American) from an agent of the Post
Office Department, dated Columbus, Ohio, Sept.
S (Wlv, 1040, states that the individual who robbed i
the U. S. .Mail, east ofSpringficld,Ohio,on the night
of the KWh of March last, has been arrested, and
six thousand dollars of the money recovered.
Charles Boslerick, the driver of the mail stage, turn
out to he the robber.
O'We copy from the New York Times and
Evening Star, the following item of intelligence,
which will he (bund to he new and true.
“A gentleman of the highest political distinction, 1
in South Carolina, and one who was among the |
first, if he was not the very first, who rai-ed his 1
voice in behalf'of Andrew Jackson, uses the follow- |
iug langnagein reference ro Georgia:”
“From Georgia, I have accounts from all sorts of <
people—nil concurring that Van Ilmen must he 1
heat. I believe it, because, there is more lire in tlie j
whigs—thev are the movement party, and it will |
not taken great deal to give them a decided major!- !
tv. Preston acquired great honor at Macon, and J
greater still at Augusta—where he not only delight- j
4 <| his friends but converted bis enemies, w bo listen- j
<■(l to him two hours in the rain, the house being too I
small to bold them.”
[From the New York Fan. Sept. 16.]
roUH /JAYS LATER FRO M ENGLAND, j
PROROGUING OF PARLIAMENT—RENEW- j
El) PREPARATIONS FOR WAR—AD- ,
VANCE IN THE COTTON MARKET.
We were disappointed, alter all, iu our expecla !
lions that no metre packets would arrive previous to ;
the British tiueen, 4 esterday afternoon, the fine j
packet ship Garrick, Capt. Palmer, came up the hay, j
bringing complete files of Liverpool and London |
papers to the 15th of August, inclusive.
We are, sorry to find that matters wear a less j
pacific appearance than when the Quebec left. |
Parliament was prorogued on tlie 11th by the !
Queen in person. It was supposed that the Queen’s
speech would have contained something to soothe i
the wounded sensibilities of the French. But, on j
the contrary, no allusion was made to the subject, ,
.and the news from France sounds more warlike ;
than ever.
Itwowld appear from all accounts that Thiers is ,
determined resist at all events the execution of the
offensive treaty. i
The McKEtenr still continues to announce in its j
columns the official decreees for the armament of ,
the country.
The French Government are supposed to pos- j
upss in the last despatches from Egypt information •
as to ueaccidental collision or some incipient act of i
war between the fleets that ride in those troubled j
waters.
The funds both iu France and England had an- |
dergone a farther depression from the continued un- i
settled position of political affairs.
The cotton trade has become animated, and has I
advanced Jd upon common and full ]d upon the |
fair and good qualities.
The weather was good, and the prospects of an
abundant harvest well secured were rendered cer
tain.
The steam packet Britannia arrived nt Liver
pool on the 14th of August, having made the quick
est passage ever accomplished between America
and Europe.
The Paris Moniteur of the 10th August contains
an ordinance invoking a session of the court of peers,
on account of the late attempt of Louis Napoleon ul
Boulogne.
It states that the Conrt will proceed without delay
to the trial of the individuals who have been or shall
be arrested as principals or accomplices of the above
attempt. _ •
The London Standard of Kip 11th says, Prince
Ennis Napoleon ami his accomplices are to he tried
together, not by the House of Peers, but by the or
dinary tribunals. The circumstance of his having
fired on and killed an unarmed man, is expected to
afford an excuse for condemning him to death, but
the most magnanimous revenge would he to treat
hint-as a lunatic.
Losdok,. Friday Evening, Asg. 14—The funds
were again (heavy to-day in both markets, particular
ly toward the close. Consols, which had been done
at 90 3-4 for money, left off at 90], the final quota
tioß, lor th e account, being9o],buyers.—Bank stoek
declined to 169,60, and Exchequer bills to 23s 28s
jrrftin.
As to the course France wnl adopt (says the
London Post) in the warfare which may ensue, the
follow ing is the plan which has been communicated
to us as that of some great masters of military and
political strategic on the Continent, and that which
{t is generally supposed France will follow:
Out of her present army of 350.000 men, exclu
erve of 1,000,600 guards national, and .f the 150,-
000 men now ordered to be levied.) fr«>m 40,000 to
fi(M*oo will be assembled toward the Alps, opposite
Piedmont a- d other vulnerable points of the Aus
trian territory. „ „, , „ .
From 60 0(H) to 70 000 men will be marshalled to.
*:ird the Kbenxue frontier, no less vulnerable in
“The campaign country in Africa will be aban
doned the maritime strongholds alone preserved
For the latter object, the indigenous twops ant
from 15 WO to *6,000 Europeans will enffice ; 30,
■ ■inifu Ti ’M—Mil r». i '■ n rwr hrtiv i tn nnr-r*-*
000 to 40,0001 experienced soldiers will then be j
withdrawn, 10,01 K) being embarked aboard the
French fleets in the Mediterranean, and likewise
aboard the Egyptian and conquered Turkish navy j
in the Pacha’s hands, to be manned with petty offi- |
cere from the French maritime service.
‘ Artillery and troops, both of the line and of the
national guards, are to be directed towards the j
coasts of France which are most assailable ; and in j
; the nearest naval ports are to be assembled steam j
i vessels of war in the service, so that in a space of .
time, from three to twenty-four hours, gun-boats ;
and vessels of war, of heavier metal may be brought
into the English seaports, to spread devastation
therein amongst the commercial navy. j
“The French” thus proceedsonr informant, “will
have the advantage td being the first to attack, and j
of knowing when and where the onslaught is to take ;
place. The imprisonment of English residents, the
' embargo on English vessels in French ports, the sei
-1 zure, of steam-packets and commercial vessels ply
ing across the channel or returning from distant col
onies, may therefore take place before any means of j
resistance have been prepared, and the retaliation
i on the much inferior commerce of France will only
I succeed when the credit and commerce of England
have received an irretrievable hlow;a war must then
follow, and he supported hv a nation burdened with
800,000,000 ofdeht.”
The Paris papers of Thursday, with our n = nal
correspondence, have reached ns hv express. The ,
substance of both was again becoming serious.
The frequent meetings of Ministers, the alleged
failure of the mission of M. E. Perier to Mehemet
Ali(and which was said to have had fir its object
to induce him to modify his pretensions in order
j to enable France to make a stand for him ) he
continued naval preparations fur war in French
ports, the publication of the Royal Ordinance fur
opening an extraordinary credit of 56,006,000 of
francs for the Minister of War —the hostile charac
ter of the news from the East contained in the jour
nals, and “the dry lone,” (In ton sec) of her Majes
ty’sspeech, when referringio the newtreatyof al
liance, all conspired to revive the feeling of alarm
which the speech of Lord Palmerston had for a mo
ment rernov ed. ’Die Funds accordingly, as will be
seen from the annexed stock list, declined on the
Bourse on Thursday.
The “Siecle” says, that “in the course oftlie next
i month France will have a fleet of 22 sail oftlie line
and 15 frigates afloat.”
The Capitole asserts that the Prussian ambassa
dor has ordered all Prussian workmen to leave Paris.
The Lloyd Nantis, of the 11th inst. slates that the
Administration of the Marine received orders on the
IDth to lew seamen np to the age of 50.
[From GoligHaiti's Mess< nger.]
Arrival of Prince L.onis at the Cuncurgerie. —
Preparations which have been going on for the last
two days were tor the purpose of receiving Louis
S Bonaparte, General Mnntbolon, and other persons,
; who are to he tried by the Court of Peers.
| On Thursday night, at 20 minutes after 12. a car
riage containing Louis Bonaparte, arrived at the
I (‘oneiergerie, escorted by some departmental geml
j armerie and Municipal Guards. The prisoner was
j guarded in the carriage t-y M. Lnrdenois, Lieut.
\ Colonel of the Municipal Guards, ami several of
| his men. The prisoner, after his arrival was duly
| registered, was taken to the room which had been
I prepared for him.
P\ R IS, August 11
i A report was spread this afternoon that govern
ment mid just received notice of a revolution at
Constantinople, against the Sultan Abdul Med
sehed. in fav<>r of his younger brother, or rather of
the old Turkish party.
The Letpste Universal Gazette of the othinst.
announces under date of Constantinople, the 22d
nit, that all the stores and shops belonging to ihe
| Greeks had been closed by an order of the Gov
ernment Th Greeks had moreover been enjoin
; ed either to retire to Greece or become rayas with
in the space of eight days This extraordinary
| measure had created a vast sensation in the Tnr
■ kish capital. The cause ol this sudden reaction
j was unknown, but it was ascribed to King Otho’s
| having relused to ratify the commercial treaty.
[From, the New York Evening Post ]
i An able controversialist was om e asked in our
hearing, how the followers of a certain sect ex
plained certain passages of scripture, directly con
j tradicting the doctrine they held “Explain ?”
was the answer, “why, an ingenious man can ex
plain any thing?”
The whig prints have hit upon a very happy me
thod of explaining the present revival of business,
to make it support their favorite theory, that the
! country is mined. Hear the Baltimore American:
“The cause of the present briskness—what is it?
! If the inquiry is made of business men, they w ill
; reply that the prospect, now certain, of Gen. Har
| risun’s election has given things a new start. Let
I the belief become prevalent that the presented
, ministration will he continued, and un instantaeous
: depression would take place.”
Again:
i “The trading community have learned hy sad
experience that they are to expect nothing at the
hands of the administration hut embarrassment and
oppression. II life and activity are returning to
! business it is not by reason of any thing w hich the
administration has done; it results from the belief
j that the administration is to be changed—and that
speedily.”
According to this ingenious explanation, people
| are buying and selling, shipping goods to foreign
climates and importing goods from abroad setting
their factories at work, and engaging in various
enterprises out of pure contentment of heart at the
1 thought that Harrison is to be elected. It is not
hernuse the shipper finds his business gainful; it
is not because the merchant makes money hy sel
ling to the country trailer; it is not because the
the manufacturer finds a profitable market for his
wares; it is not because the customer v ants the
goods he buys and has the means of paying for them.
Let no man deceive himself hy any such common
place theory as this. The world of trade is gov
erned hy no such sordid motives. The shipper
takes cargoes, the merchant sells, ihe manufactur
er produces his fabrics, the customer buys, all for
the sake of testifying their joy at the expected elec
tion of William Henry Harrison, the hero of Tip
pecanoe. They do it for precisely the same rea
son that they would huzza and swing their hats at
a public meeting.
One great excellence of this explanation is, that
the brisker business becomes, the more it makes
against the administration and its friends. If trade
and industry were much more active than they
now are, it would by a parity of reason only show
that the merchants were much more deeply con
vinced that they are “oppressed and embarrassed”
by the administration. If the pro.-pect of escaping
from the “embarrassment and oppression” they
suffer is the cause of the activity which now ani
mates our coramersial streets and sets the wheels
of the eastern manufactories in rapid motion, the
prospect of escaping from still greater “embarrass
ment and oppression” would make our traders still
' more busy and whirl the machinery ol our spin
; nmg jennies in still swifter gyrations. If the men
• of business had been ten times as ill treated by
Mr \an Buren and his friends, they would ol
- course be ten times as happy at the prospect of
a substituting Harrison in his place, and to testify
their joy the shipper would ship ten times as many
'• goods, the manufacturer would make ten times the
I. quantity of cotton and woken cloths, the merchant
d would sell and his customer buy ten times the
, amount of merchandise.
I— ■ v —M— I II IP I —1 II i■■ IWMM fcJB-gbk: MJbKI
| Another beamy of this argument is, that it resem- 1
bles what is cal Ini a whip row in the old game of
j twelve men morris; there is no escape for the de
mocratic party, whichevei alternative you lake.—
If on the one hand no business is done, the coun
i try is ruined of course; if on the other, business is
| active, it is only a proof that the country is ruined,
; and the people are sensible of it.
j But we must suggest to the Baltimore American, |
! that it does not appearqnite to understand the state j
of feeling among commercial men. Here, in New I
I 5 ork, a very decided change has taken place in their i
| opinions. The ferocity of their opposition in most i
! cases is gone and in many instances it has been con-
1 verted to absolute approbation of the policy of the i
administration and its triends. Were it not that we I
! have no right to bring the names of private individ- j
■ nals before the public, we could mention manv per
sons of great eminence in oar commerce, not long
since the enemies, hut now tlie friends or the hide- i
pendent treasury scheme. We.could give the names I
of others who from being the most implacable ha- '
ters of the democratic administration, are now he- ’
1 come extremely moderate and temperate in thrirop- ;
position. A new set of merchants have also sprung !
up, among w hom are many democrats, and others f
are far from being imbued-with the hitter prejudices I
that were so prevalent in their class a year or two
since. In sac t, there has not been a time since the
j year 1833, when the mercantile community stood so
, well affected towards the admininislrution as now.
It is not a fact that there is in the mercantile world
astrm gdesi.e for the election of Harrison. On the
contrary, there is great coldness towards his cause,
I a feeling ol uncertainty as to the measures he will
pursue,and a doubt whether his policy will not dis
turb that happy regularity to which the trade and
' business ol the country under the auspices of the
present national policy nre manifestly tending. It
is ridiculous tinder such circumstances to say that
the revival of business is occasioned hy the hope that
Harrison will he elected. It is occasioned hv the
mutual wants of different classes of men and by the
abundant resources of die country.
Nor is it accurate to say, as the Baltmore Ame
rican has done, that the business oftlie present
season is not equal to our usual autumnal business.
It is not like tiie business of 1«35 or 1836 it is true
—hut it is a better business than has been done for
several seasons past.
[From JBickneU's (Philo.) Reporter of 1 bih inst.]
THE MONEY MARKET.
Wo nn able to state that the fall trade, although
not great, or even as active as usual inordinary sea
sons, continues very tolerable, and may he- descri
bed as particularly sound—that is to say, the num
ber of merchants from the West, although not large,
embraces many of the very host houses—men of
unquestioned standing and means, and who moreo
ver, are very liberally provided with cash. Thus,
the cash sales of this season are likely to he better
than usual, and the general trade wholesome to d
very gratifying extent. The coming election inter
| seres very materially with business, and however it i
I may result, whether in favor of the existing nr of a I
; new administration, trade it is believed, will very j
; materially revive after the result shall he fully as- i
i certained. 'Lite political affairs of the country will
! be settled for four years at least, and thus our mer- !
j chants, capitalists and men of enterprise will govern j
! themselves accordingly. Money is still abundant i
in Philadelphia, hut more inconsequence oftlie lit- I
lie, demand than any other cause. The transactions
ol the present period are exceedingly limited as
compared with the seasons of excitement and spec
’s illation—bank stocks are sought after with much
! less anxiety—there is little activity in real estate,
comparatively speaking—and hence money is abun
dant. Our own impression is, that the ease iu the
| market will grow gradually less, as the period for
I the resumption of specie payments approaches.—
j The hanks will, of course, curtail very materially,
| w ith reference to that event, and in order to pass the
I ordeal with perfect safety. Their course for some
; time past has been judicious, and the public coufl
i deuce with regard to them, has very materially revi
! ved. Specie is in little demand, and we have few
i complaints on the part of the market people and our
j shopkeepers. The filthy and ragged condition of I
j some of the small notes of neighboring banks, forms i
j perhaps, the most prominent subject of censure and |
dissatisfaction. The Stock Market until Friday watfi
marked by much depression. U. S. bank was at j
! one time as low as 61]. No certain cause was as-j
; signed for this depression. It was by some, how- !
| ever, attributed to a determination on the part of a |
party of brokers and capitalists who had dubbed 1
, j together and purchased several thousand shares, to j
sell out again. The first indication of this feeling j
was the sale mentioned in our last, of a thousand |
shares at 67 per share, cash. They also sent 1000 1
or 2000 to New York, and sold them there on short ;
time. The policy was, to make it appear that cash !
stock was in demand, and thus to keep up the time I
! sales. It was seen through, however, by the know’- j
ing ones, and thus the general effect was to alarm |
and depress. It is probable that the party alluded
i to, either lacked nerve or means, became alarmed !
without sufficient cause, and thus sold quite as rap- |
idly as they had bought. Thus, for a few days, the I
[ ] market was completely flooded with this stock, and
i hence the price fell to the low rate to which we have ;
■ I adverted. Despite this, we adhere to the opinion,
f that the bank is improving her condition, will resume
; specie payments at the appointed time, and will ul- j
timately recover much of her former credit. That
. she ha? lost several millions is beyond all question—
i that gross and monstrous errors were committed un
r der her former affairs, not intentional perhaps, is also
1 indisputable. But her affairs are now in heller hands
. —a searching committee of investigation, headed hy |
t Richard Price, a member of the Society <>■ Ffiends,
; and an eminent merchant of the firm of Siter, Price
. Co. have long been engaged in correcting abuses
> —a better understanding exists with the other banks
i —and all the signs indeed, for some months past, j
. have been of the right kind. It is clear that she
must eventually improve, although it is possible that
i her stock mav under such influences as we havede- I
. scribed, and because of the indisposition of cnpital
r ists to invest, go still lower. For ourselves,we never j
. owned a share in the institution, and think it likely 1
■ we never shall. But still, we conceive it to be a du
ty, when we see such alarm and misapprehension,
. to state the best information on this subject that can ,
- be obtained. The moment we see reason to change
t our views, we shall not hesitate to state the change
i franklv and fully. It is quite probable that no divi- j
t dend w ill be made in January. This too, may serve ;
i to add to the apprehension —hut still it is the correct
. 1 policy. No bank should declare a dividend, w hile
. her capital is in the slightest degree impaired. That
. once recovered, profits may be divided, but not until
I then. The trustees of the Girard College still hold
> ' their stock in this institution, and we have reason to
, ! believe that they have been advised to this course,
’■ ! bv individuals who have the best means ofinforma
tion upon the subject. We must not forget to add
. ; that on Friday the stock recovered considerably, and
. on Saturday sold as high as $67 cash. It fell again
1 to $65 in the afternoon.
j
[From the New York Herald.]
i The position of financial affairs in this country is
f beginning to be thoroughly understood in the Lon
f don market, as is indicated by the following article
f from the London Times of August 6:—
V “The progress of monetary affairs in the United
y States, as indicated hy the last two arrivals, is ex
e aetly that which all sensible and obse r vant men
it have anticipated. All “had and doubtful” institn
e tions, not based upon solid and unencumbered
capital, are gradually sinking in credit down to their
1 pi oper level, while those of a be.ter character are
at le st maintaining their position, if they do not yet
w,holly emerge from that cloud which the late hank
ha nod other failures have thrown over the whole
coiutry. It is remarked, with respect to the herd
of mint st->ck associations with which the Union
swarms, that no previous half year has been brought
I to a close in which so few declarations of dividends
i have taken place, a? in that ending on the Ist inst.
; in if e instance of the United States Bank, the
| garni of brag was kept up to the last, but the usual
I day j'assed over without any notice; and on the
j 7th, as a meeting of the directors, a resolution pass
; ed tluit i was not “expedient” to make any divi
j dend Thus, there is a second dividend in arrear
; on this undertaking, which less than two years ago
i stood n the London market use! in the highest
rank of credit. That the hank will be placed in a
| better situation by ibis delay is by no means appa
| rent; on ihe contrary, the prospects are truly dis
| astron», so ns to threaten an extinction of the means
j st;l| at the disposal of the directors, unless a reali
i Ration of etlecis is commenced without delay, and
j all thought of resuming business abandoned. That
i they can be working to any profit is out of the qnes
, fion; bi t their means, nevertheless, are wasting
fast nna er adverse decisions of courts of law, a
gainst \f Inch their charter cannot protect them. *
“It is now pretty generally admitted by our < ity
capitaiis s that n fatal e.ror was committed, leaving
mere credit and solvency mit of consideration, in
making tiny investments at all by British proprietors
in the bt rtks and joint-stock institutions in Ameri
ca The great element of prosperity in such un
dertakings is the opportunity which all shareholders
usually have of keeping a strict watch upon their
management, and of either becoming directors
themselves, or voting in the choice of them, in all
which the British proprietor in an American com
pany is utterly helpless and unprotected, if has
even happened, through Ihe eagerness with win. h
such a disposition • >1" capital was sought altera few
years ago. owing to thedelus on of large dividends
and high recommendations, that a majority of the
proprietor.?—in value, if not in number—have had
no voice whatever in the management of the com
pany, but have had their properly placed nt the
mercy of a junta on the spot, who could deal with
ii just ns they pleased. It is only to he hoped that
the severe lessons lately given on this subject will
be pt rmanenfy remembered.
“As t! e debt' ons and bubbles of the late period
of insane spee-ulaiion in the United States are dis
appearing, the credit of the separate stales is as
suming a bettor character. The principle of levy
ing taxes for toe payment of loans originally raised
for public improvements, which have turned out
any thing btu improvements, has at last been recog.
nized by those Lecislalures before w hom the sub
ject has been brought, leaving, therefore to the
lenders of the money only such risk as may arise
from the unwillingness or inability of ihe taxpayers
to tuifil the engagements entered into hy their ru
lers on their behalf. We consider it ns equally for
i innate for the English bidders of ihese stocks, and
I for ihe slates themselves, that they were brought
I to a -land in the early part of last year, and found
: all further extension of the borrowing system in
this country to he wholly impracticable. They
: were viewed, and most justly, in the fight of thought
less heirs to large estates, making unjustifiable an
! tieipalions of the r future means, wlneli threatened
to place these means in jeopardy, and the borrow
ing was prudent I<7 stopped as by one accord, as
the only remaining chance of preventing a bank
ruptcy. The American states would infallibly
have been mined, just as it has happened to thou
sands ol private borrowers, by the continuance of
their credit ; hut, being checked, they become so
ber again ; r .11 in or review their various projects
and speculations afloat, and all goes well both for
the lender and the borrower. Great was I lie rage
felt and expressed nt the time by all those papers
who had their game to play in this country ; who
had new loans to negociate and bring forward; who
had borrowed money and entered into speculations
on the security of these slocks; and who cared
little what became in the end of the honofide hold
ers, so that their objects were accomplished, if
i their will had p evaded, for most eagerly did the
| loan mongers on the other side ol the Atlantic, se
cond their endeavors, the contracts would have
1 been extended without limit, and the bubble would
, have expanded till it had burst in ruin to all con-
I cerned. If they are now to he saved, they will
: owe it entirely to the prudent advice and caution
\ which recommended them to stop in time, and lend
j no more till the condition and resources <>f the debt
or were duly inquired into and investigated. Let
| it be understood, however, that we do not recom
mend. on account of these better appearances
which have recently presented themselves, any
present extension of confidence, or contracts for
new loans. Before that can take place, time will
j he required to put to the test the wise measures
i and virtuous resolutions which the states have
adopted. The creditors cannot hm congratulate
themselves in the interim that they have seen their
j danger at the proper moment, and taken the only j
i course which could have saved them from min ” j
The sentimens here expressed may he consider
ed as those which most prevail in the minds of the
British capitalists. The large amount of foreign
j capital which, of late years, has been setting to- |
w'ards this country, has, no doubt, been the basis of
the large imports, and con-equent b isiness and in- '
fluted prices of real estate. It has, hy preventing
a demand for specie, been the means of enabling
the banks to inflate the currency. The explosion
consequent upon their ceasing to lend, has opened
their eyes to the (rail nature of the ; pernlative in- ■
stitntions, at the head of which is the United Stares
Bank. The recent injudicious letter of Mr. Biddle
will tend greatly to confirm them in this opinion, j
i ISuch being the ease, it is idle to confirm them in
this opinion. Such being the case, it is idle to
suppose that the success of that party, in whom
their creditors have lost confidence, at the Presi
dential election, will be the means of restoring
\ commercial prosperity.
It is far more likely to have a contrary effect
! The success of the advocates of a non specie
paying policy is not likely to revive the confi
dence of our foreign creditors, or lead to an in
crease of loans. Without such increase our im- i
| ports cannot be much enlarged, and allow of a con
tinuance of specie payments. Nor can the present
embarrassed institutions get out of their difficulties, i
A new National Bank will not a tract much more
foreign capital, while S2O,OO'.(MX), the property of
foreign stockholders, lies locked un at a depreeia- 1
tion of 10 per rent in a non dividend paying rot
ten concern The real causes of the depression of 1
business for the past year are far more important
and extensive than any over which the Federal
government have held control. Our disease was
debt—the remedy exists in onr prolific produc
tions. the availibility of which consists in low pri- I
ces only. Abundance and low prices are even
now performing the great w ork of renovating trade,
with an increasing impetus. A few months of
undisturbed action, would give us oack a healthy
trade.
Extract from a communication signed “Virginia,” !
in the Globe of!4t{i instant.
“I am no alarmist, nor have I erer attempted to
accomplish a particular object by exciting appeals
to the violent passions. 1 have never for a moment
lost my confidence and unshaken reliance on the in
telligence and sound sense of the people, any more !
tban~in theirhonesty and integrity. But to render j
ihese attribute? efficacious, as the safeguard? of.
! their right*, they must he kept informed ofalltfc
signs hostile to their liberties, or whose tendencT is
to transfer the political power from the marov to the
I tew,from the Democracy of Numbers to fFie Aria-
I t( >oracv of \\ ealth. After witness in?, for several
months, the bold designs and the profligate means
ol a combination of daring aspirants for power, (nol
sumeiently exposed as has appeared tome,) f should
be faithless to my duty, if I did not raise a' warning
voice and apprise the real people of their danger
-1 sey to them, be ye not deceived? Can anv Demo
oral, any true friend of our popular ’ institu
tions, so mistake the signs of the limes, as not to
discover that tne present contest is not a struggle for
placing this man or that man at the head of the Go
vernment? Hungry, desperate and audacious, as
| are the office-seeking tribe, such unprecedented ef
| f..ns could not be pul forth, such proflisrate means
con!.) not be resorted to. were there no other objects
depending- on the struggle than the possession of of
j free*. Depend upon it, fellow-citizens, there are de-*
signs and object* connected with this contest, incoti
ceivahly more lasting and important than a four
veins contiol ol llic patronage of the government*
pillions, yes. millions of dollars, have been and
will he expended by those seeking to overthrow
an Administration, ihe choice of the people. From
whence does this money come? and what are the
objects of those who supply it? It does not come
from the noisy partisans, the Drawling office-seek
ing crew, who are filling the country with the mcs(
abominable falsehoods, slandering the living nnA
the dead, appealing to the lowest and hasest pgg.
| sions of the most depraved and ignorant of the
people, and seeking to corrupt them with money
and strong drink. It is not from these needy and
i voracious office seekers, that the millions which
I will be expended in this election, are derived.
These men have not money, nod of course cannot
furnish the vast fond which has been raised. It
has been supplied hy a different class of men—by
the capitalists, the bankers, stockjobbers, and stock
holders. And what proportion of it, think ye, has
come from England? How much do you believe
j the British holders of American slocks could af
ford to pay, to revolutionise this Government, and
| restore the ‘ credit sysiem,” re-estahlish a National
Bank, and transfer the State debts to the Federal
Government? American stocks are now worth only
from sixty to richly percent,, and if raised to par,
as they would be hy such a change, the holders of
these stocks in Europe would immediately reahrv
forty millions of dollars. With such a motive, do
yon think they would hesitateto expend one or two
millions? Nor do they, independent of this motive,
feel indifferent to the overthrow of the Democra
cy in America.
Depend upon if. British gn'd and British influ
ence are at work in this country—the men who
seek power regardless of the means, by falsehoods,
frauds and forgeries, and who threaten force and
civil strife if they cannot otherwise obtain their
ends, would not scruple to defile their hands with
British gold, to accomplish their purposes. But
whether the funds hy which the war is now carri
ed on against the Democracy comes from this or
the other side of the Atlantic, those who supply
them are not expectants of office; they are not
looking to the recompense of reward by the divi-
I sion of the spoils. What, then, are their motives ?
They are shrewd calculators, and do not cast their
bread upon the waters without expecting a return
from it. They, in the language of Mr. Webster,
1 are for a change; and not merely a change of
men, or a change of measures, hut a change in the
I Government itself—a change of the political pow
j er, from 'he mass of the people to the wealthy
' I class. They are for a ‘-Government founded on
property,” and nol on numbers. The American
doctrine, that the will of the majority is the su
j prerne law of ihe land, is a detestable principle
with them. They have been warring against it
since the foundation of the Government. The cor*
poraiion principle, which regulates a man’s influ
ence according to his property, is their favorite
doctrine
This is no common crisis, growing out of the Pre*
' sidential election. But if is a fearful conflict of
opposing interests and principles. Iris the old strug
gle, between the aristocracy and the Democracy of
the country, which has continued under different
forms and names since the establishment of the Go
vernment. But never before lias the contest between
these opposing principles and parties assumed so
alarming an aspect —never before has.it been so
purely a struggle between the power and influence
of money, and the intelligence and integrity of the
people. The experiment is now for the first time
1 being made, of the power and influence of konet,
with the requisite profligate agents to apply it, to
\ conquer the public will.
This is to he accomplished hy fraud and corrup
tion. Os the vast machinery now in operation fur
deceiving the people, money is the chief agency.
And those who can be controlled by oppression or
direct corruption, must surrender their suffrage lo
the moneyed power.
[From the New Orleans Bulletin.]
Extract of a letter , received hy a commercial house
in this city from one of the partners now in the
ro unity
“The season has so far advanced, that we can
now arrive at some pretty accurate conclusions
with respect to the present growing Colton crop /
and as it is a subject deeply interesting to our com
munity, I have thought proper to give you my views
and observations. 1 travelled very extensively
i through the State of Mississippi—the remark*
which here follow, you most not consider section
al, hot applicable to the whole Slate—ihe crop, un
til ihe latter parr of* July, bid fair to he a good one ;
hut about the Ist Augmt a worm made its appear
ance in most of the northern counties of the State,
which commenced its depredations on ?he voting
forms or squares —entirely strippng the stalk not
only of them, but in many instances of the young
bolls. In the middle and southern portions of the
State, also in the Elorida Parishes of lyuiisiana, the
damage sustained, by the same description of worm,
will he still greater, 1 heir opera ions are not con
fined to the squares, nr xoung holis, hnt as Was the
rase several years since, the stalk is stripped en
tirely of its leaves. This destroys vegetation at
| once, and the hare stalks soon die. The few
grown bolls left by the worm are the planters’ sole
dependence. These will not yield him more than
half a crop. Many other causes—such as floods,
winds anti drought, have fended M* shorten the
crop in other cotton growing States. After be
stowing on the subject that attention and reflection
which its importance demands. I have come to the
conclusion that the crop of 1810, will be less than
any other grown in the United Slates for the last
five years.”
j Clinton, La., sth Sept., 1810.
i '
[ From the Netrnan Southern Transrriplofoih imlA
THE COTTON CROP.
The following extract of a letter received bv us
from an inteligent farmer, but confirms the reports
from all sections of the State, in relation to the de
struction of the cotton crops by the Caterpillar ;
“Having travelled through many of the counties
of western Georgia recently, and learning, from re
port, that the worm or caterpillar was devouring
the cotton, I was prompted to enquire ofthc planters
as to the extent of their ravages. From the best in
formation that I was able to get, it was the univer
sal opinion that the crop would be cut short one
; half or more from that of former years. I further
i informed from the best authority, that in Alabama
; and Mississippi the destruction is much greater.