Newspaper Page Text
111 U & THOMPSON. AUGUSTA. GA. SATURDAY MORNING, BEPTETIBER 28. IS4O. VOL. XVIII.-.NKW SERIES. NO. M.
■■—■■ —— ,
I'riilay Tloriiiu«. Sept. 85, 1S4().
03* We have only a few remarks to offer upon the
■communication of Mr. Stephens. We must believe
him iu the assertion he makes, that the same views
he now holds,concerning the charactet of the char
ier granted to the Western Insurance and Trust
Company of Columbus, were expressed when the
•hill (or repealing the charter was before the legis
lature. Mr. Stephens admits that though he then
considered the charter unlimited, unrestricted, and
iniquitous, as it was, he voted against its repeal, he
< ui'.e it was nevertheless a law of the land, with the
executive sanction; under which rights olinoiv iduals
had been vested, which could not have been inter
fered w ith, or destroyed by a repealing act, any more
-than the rights of any other persons, acquired under
the laws of the land, could have been taken away or
•destroyed by act of the legislature. Mr. Stephens
•is a lawer, and a legislator, and, no douht, well ver
sed in jurisprudence. He must know that all laws
emanating from the legislative amhoriry of a gov
ernment based on justice, contra-distinctive of an
arbitrary and despotic government, cannot convey
eights which in themselves ar s iniquitous] that till
Jaws, o/ an iniquitous character, are null and void
because not founded injustice; and that all those
legistors who participate in the making of such ini
quitous hues, are guilty of criminal offences against
the supreme, power from whom the legislative power
emanates. Mr. Stephens declares (bathe denounc
ed the charter, in the House of Representatives, us
iniquitous. And yet he voted against the repeal of
ibis iniquitous law, because it was a law ofliie land,
which granted rights to individuals, that could not
e taken away from them. Could the legislature
rant iniquitous rights to certain individuals to he
exercised for their own enjoyment ! If the charter
H iniquitous, the rights granted in the charter, are,
<>l consequence, iniquitous] and Mr. Stephens voted
ugainst the repeal of a law which conveyed to cer
tain individuals iniquitous riphts ! Mr. Stephens
may attempt to escape from the dilemma in which
lie is placed, by entrenching himself' behind the
judicial department, which, he will say, possesses
•alone the power to decide on the forfeiture of the
s hatter. Rut Mr. Stephens will reeollect that the
question before the legislature was not the forfeiture
of the charter (or .any violation of its provisions. The
question was simply the repeal of a charter which
was unjust in the powers granted to certain individ
uals designated iu il, IJ3 repealing the charter, the
legislature would not have invaded the powers of
the judicial department of the government, it would
have simply made the declaration, that it had dis
covered [he iniquity of the law it had passed, and
that, by rendering null and void that law, it was per
forming a sacred duty to the sovereign power of the
state, by repairing the injury which the passage of
such a law had inflicted on the justice of the govern
ment. It the repealing hill had passed the legisla
ture, the individuals interested i.i the charter would 1
have had left to them tlr: tribunals of the state, to
which they might have applied fora redress of the
action of the legislature.
MAINE.
Wfi have not received In yesterday’s mail the final re
salt of the elections in that slate. \\ e copy the following
from the Portland Argus of the 1 tat h instant.
THE RETURNS.
We have handy timeto subjoin the returnswe have thus
fir received, without making any comments of our own.
It tlie towns'to he heard from give the same mijority they
gave in 18116, Fairfield « ill he clios n by about eight hun
dred majority. The mail to-night will doubtless bring
snliicieat intelligence to settle the question decisively.
A NEW NOVEL BY JAMES.
Mr. Richards has just received at his Book Store,
“The Man-at-arms; or Henry- de Cerous.” This is
the latest work by the author of Darnley, Henry
of Guise, and other popular novels. The scenes
of“ The Man-at-Arms” are in France, at the time of
the massacre of the Huguenots on St. Bartholo
mew’s day, of which a description is given. The
critics speak highly of this work.
POST OFFICES IN GEORGIA,
'Fite office at Princeton, Muscogee County has
been discontinued.
A post office has been established at Tunnel Hill,
Murray County, and Absalom Foster appointed
postmaster.
The following postmasters have been appointed:
Irwin G. Harrell, Double Wells, Warren county.
C. M. Smith, Houston, Heard County.
S, W. Miles, Bark Camp, Burke County.
U. S. BANK.— Resumption of Specie payments.
—The Philadelphia Inquirer of Saturday says —
We learn, with pleasure, that an arrangnment is
now in progress between the U. S. Bank and the
other Bauksof Philadelphia, which is likely to have
a considerable effect iu reviving public confidence.
In order to facilitate and render certain a general
resumption of specie payments, the Philadelphia
Bunk has offered to loan the U. S. Bank $1,00(3,1)00
—the Bank of Pennsylvania has made a similar
offer, and a proposition to the same effect was yes
terday before the Directors of the Farmers’ and
Mechanics’Bank. The United States Bank is in
debted to each of the others, both in Bank notes held
by them and balances. The plan is, for the smaller
Banks to return notes payable on demand to the
extent «1 $1,000,000 each, and to receive m ex
change post notes, payable in a year, or longer, if
necessary. This will, of course, reduce the liabili
ties of the U. S. Bank, and greatly assist her in the
resumption ot specie payments. It is believed that
theother Banks of Philadelphia will also panic!*
tste in the generous work, and thus assist in bring
-1 ing aUout a condition of things so earnestly desired
phv all vwho wish well to the business and character
I yf Philadelphia. The details ot the arrangement
* have not, as yet, been thoroughly arranged, but we
believe it is contemplated to effect a reduction of the
immediate liabilities of the .larger Bank, to the extent
of four or five millions. The Eastern Banks have
\ professed great willingness to assist Philadelphia
in the w ork of resumption, and it is to be hoped
q necessary, they will now act in the spirit of tSeir
rofessions’- The.best understanding exists among
| the monied Institutions of Philadelphia at the pre-
I gent time, and, and the prospect is certainly encou
raging. Our money market continues easy
\ 1-
ICOMMUSJCATKD.]
ft. Messrs. Guieu \ Thompson: —In your paper of
I the 19th iust. I notice some remarks of yours, rela
ting to my vote iu the last legislature on the bill
for°lhe repeal of the charter of the Western Insu
rance and Trust Company, and connecting that vote
with my denunciation of the provisions of tiie same
charter which appeared in the Chronicle and Cjenti
i»ei oi the previous date. This course of mine seems
1 to have been the occasion to you of a “surprise
i that could not be described,” notwithstanding the
; “extraordinary powers” and “unlimited privileges”
of that institution could not even in the same arti-
I
cle escape your own condemnation. Now to save
, you the unpleasant effects of the return of a like
occurrence, permit me to state to you that my vote
on the occasion alluded to, was given solely from a
a regard tor the constitution ofthi country —and not
from any feelings ot Jacur towards the provisions of
that charter. The same views 1 now hold concern
ing its character were then express*!, and it was then
l denounced by me in the same unmeasured terms
that it ever lias been, since my attention was at
first directed to it, 1 believe by yourselves. But
i unlimited, unrestricted, and iniquitous as it was, it
was nevertheless a law ot the land,with the executive
sanction; and under which rightsof individuals had
been vested—which could not have been interfered
with, or destroyed by a repealing act, any more than
the rights ot any other persons acquired under the
laws of the land could have been taken away or de
stroved by act of the Legislature. The error was
in the grunt of the powers, and not iu the refusal to
join in the attempt at their repeal. Rights once ac
quired under a statute ot the State, when there is
no baud or corruption iu tlie legislature, immediate
ly become protected by a constitutional barrier a
gainst all subseqi en encroachments, and should
evci he considered inviolate. This is the only safe
guard to the rights ofevery citizen by which he is
I secure in the enjoyment ot his property, and with
out this fixed and settled principle, as well in the le
gislature as in the courts ot the country, no right, title
or tenure to any species ofproperty would he certain
or sate; At least such were the opinions at that time
and still entertained by me upon that subject. But
; ymir“surprise” seems to have arisen from a mis-ap
j prehension ot the object ot my remarks iu the Chroni
cle and Sentinel. Touching the extent and character
of the powers and privileges of the company, we cer
tainly are agreed. But my object was not by accu
sation to direct public attention to the “iniquities” or
j “enormities” of any institution or those of individ
uals in “procuring” or'‘receiving a charter, further
than to show to the community the verv ‘•exlraordi
>iai v powers and “unlimited privileges” ot certain
individuals who had been -prating so much against
“privileged orders,” monopolies, &c. It was not to
complain against the privileges of any, hut to close
the mouths of some who would feign complain , by
showing that if any are entitled to be heard on this
score , they are amongst tlie last.
A. H. STEPHENS.
I CIIAWFJRDVILLE, Sept. 21st, 1840.
As much speculation exists in the public mind in
relation io the hue return of Hosea J Levis, former
cashier of the Schuylkill Bank, and as the Directors
i of that Institution have been censured for their
i course of conduct with regard n. Mr. Levis by those
I unacquainted with the proceedings, and who have
been perhaps influenced hy false representations as
to the facts of tlie case, we have been authorised
to state, that the Board of Directors of that Bank
j will in proper time submit to the stockholders and
the public, such a statement of their doings in reier
! ettce to this matter as they believe will not only
satisfy them that they have not been wanting tit
their duty, but that in all their acnons they have
had in view the best interests of the stockholders
of tlie Institution. — Ph. Ha. Inq.
—
Office Western and Atlantc rail road, )
La Fayette, July 10th, 1840. \
I To His Excellency Charles J. Al’ Donald:
S-ir —I have now the honor to report to the Execu
tive Depat tiuent, that the entire line of the “Western
and Atlantic Rail Road of Georgia,” from Cross
Plains, in Murray county, to Chattanooga on the
! Tennessee River, has hern put under contract, and
that the road formation is progressing at a rate that
; promises an early and satisfactory completion. Un
til about the middle of the flrsf quarter of this year,
contracts for the grading and masonry on many sec
tions of this grand division of the road, had not been
closed—hut little work had been done, and some dis
appointment in the preparation of State Bonds, in
which contractors were to receive payment, prevent
ed these monthly settlements which are required hy
tiie regulations ot the Board, Phis will account
for an omission on my part, to make a report of the
proceedings ot the Board for the first quarter—an
omission that was of less consequence, inasmuch as
a very detailed report of Col. Long, the then Chief
Engineer, had given to the public: all, or nearly all
the information touching operations oti the road for
that period.
In the Report for the last quarter of theyear 1839,
1 submitted to the department in the mouth of January
I last, it was stated that the Board, in tiie month of De
cember, had received proposals tor the grading and
masonry of all that part of tlie road which had not
antecedently been let to contractors, comprising a
division of'more than thirty-eight miles; and that
the terms offered were more lavorahle to the State by
a difference of twenty-live per cent., than those on
i which the first contracts were made and paid for in
cash. For two of these sections, however, the tun
nel section on tlie fifth division, and another on the
Tennessee division, the Board declined the terms
first offered, but have since closed comiacts for both
at satisfactory prices.
Notwithstanding the reduced rates at which the
work under our late contracts is to he executed, il is
probable, that owing to the low price of provisions
and labor, our contractors, especially those who are
not compelled to dispose of their state Bonds at too
• r reat a sacrifice, will realize as good or better pro
fits than were made under contracts of the year
1838. Though money is in great demand, and in
i every part of Georgia commanding an unusually
high’ interest, it is quite certain that six per cent.
State Bonds vield to the holders a better income than
the farming capital of the country, and is conse
quently more valuable as private piopertj.
■ In their Annual Report made by the Commis
sioners to the General Assembly at their last ses
; sion, it was represented to that honorable body, that
a large part of the means which had been placed
• 1 in the hands of the Commissioners for the defrayal
i ' oL expenses necessarily incurred in the prosecu
l ! Upn of this work, had been found unavailable; and
the Board was to a heavy amount, in demuit to
r j Contractors, liut as ll*6 work Iraif been l*?c, and
j i hands been employed for its execution, it continued
. to progress, with little suspension, and the liabilities
-1 of tlie board to augment, till some time in March
last, when relief was furnished by the Directors
of the Central Bank. By the provident liberality
i of that Institution, the Commissioners have been
supplied wnh funds to meet most of their engage
t meats, and to give assurances that all outstanding
. balances due on account of the Western and Ai
j, lantic Rail Road, will be satisfactorily settled.
The sums chargeable to the Commissioners for
work done on the road, for the supply of lumber
e and other budding materials, caring the firtt and
BP :»»gsg3»g!a!HßßeßßßSSaar
second quarters of the current year, amount to two
hundred and eleven thousand, five hundred and
ninety six dollars, and fifty-one cents, (211,596 51,)
of which twenty-eight thousand and four dollars
and thirty-two cents, ($28,001 32,) are retained by
the Board as security fur faithful performance, as
stipulated in the written contracts. The residue,
viz: one hundred and eighty-three thousand, five
hundred and ninety-two dollars, ami nineteen
cents, have been paid.
Notwithstanding the frequent land unusually hea
vy rainj that have fallen on the region of country
' through which the Rail Road has been made, it
j is gratifying to observe, that but inconsiderable
j damage lias been done to the work—to the mime
j runs bridges across rivers and large creeks, none;
i and the slopes of our loftiest embankments have
required comparatively few repairs. One or two
culverts across runs or creeks, having been choked
by masses of drift wood, have, as well as the con
tiguous embankment, been so far damaged as to
require a reconstruction and enlargement of the
work ; but the loss sustained is believed to be far
less than has often happened on roads of the same
extent.
The public has been apprised, I think, of the re
signation of Col. Stephen H. Long, late Chief En
gineer of the V\ estern and Atlantic Kail Road,
and that his retirement from our service was o< c t
, sioned by orders from (he Department of War.—
i The original surveys and location of the road hav
ing been made under the direction of this distill
guished Engineer, and all the coni rads lor its con
struction, by the aid of his counsel and advice, his
continuance in the service of the State, until the
completion of the entire work, was iimch desired
by the Commissioners and others to whom his
great abilities and persevering fidelity io the in
terests of Georgia, were bust Known. ' F<»r the va
fancy occasioned by Col. Long’s resignation, seve
lal applications were made by gentlemen of pro
fessional rank; but regarding the advanced stale of
the work, the known qualifications of the subordi
nate olFicersof oiirowu corps,and (heirfamiliarity
I with the plans and views of Cul. Long, the Board
I saw no propriety in looking abroad tor a successor.
; lis only difficulty arose in discriminating between
j the pretensions of gentlemen, to several ot whom,
| it was thought the office of Chief Engineer might
| be safely trusted. Mr. Williams, to whom ihe ap
i poinlineot was eventually offered, is a native Geor-
I gian, formerly a pupil of iho West I’onit Military
l School, and by a continued service of eighteen
j months or more on this work, had entitled nnnself
i to the confidence of the Board.
A great part of the Western and Atlantic Rail
Road is now in a condition to receive the super
structure, and except the tunnel section, the w hole
might begot in readiness early in iln ensuing year.
Tne branches that are to unite it. with the cities of
j Augusta, .Macon and (Savannah, though progressing
I handsomely, cannot probably tie ’finished short of
j twelve or eighteen months. An isolated rail-way,
' however well fitted and equipped fur transporta
, lions with the markets of the atlanric, cannot sub
: serve to much extent, (he interests of cite country,
! or produce income to the proprietor. Added to these
| considerations, ihe diminished expense of convey*
i ing our heavy rails from Savannah to Delvaib couri
j ly, by the use of these branches, would indicate
I the propriety ot postponing an order for the pur
j chase of rads, till the.-e facilities of transport snail
have been farther advance.l, The Board has there
fore, not given such an order, bill has taken steps to
have the earliest information, muchir.g the prices
of rails, as well as of Slate Stuck or Bonds, the on
ly means at their disposal, wherewith payment can
be made. — Letters oflale dale from L union, in
form me that the Bridge rail,of the figure and dimen
sions that we propose to use can be delivered to
our order at Cardiff or Newport, in Wales, at some
thing over ten pounds sterling per ton, on a credit
of eighteen months, sustained by a pledge of s>iaie
Bonds. These are comparatively favorable terms;
: but before a pledge of Slate Bonds is made, it is
| demonstrably necessary for the General Assembly
to provide infallible means to make punctual pay
j rnent; which can only be done by the enactment
| of such revenue laws, as will put the Treasury in a
condition to meet promptly every engagement. —
The fiscal resources of Georgia are ample, and
nothing but a negligent or faithless administration
of her Government, can deprive her of Mie credit
necessary to raise at any time, ami at the lowest
rule of interest, whatever funds she might require.
Respectfully submitted.
J. CIUWFORD.
President Board of Commissioners.
[From the Boston Daily Advertiser.]
| COMPETITION OF EAST INDIA COTTON
WITH AMERICAN COTTON,
j The increasing magnitude of the trade between
; India and Great Britain, and its importance to ihe
latter country as a great and growing market for
| her manufactures, is a subject of discussion w hich
has become very interesting to the British nation,
i as it should also he to us, for its hearing on the
: future demand and value for our great staple—
j Colton. The ground taken by many intelligent
j persoms in India and in England, who have taken
I great pains to become acquainted with ail the facts
| in the case, is, that the natural capabilities of Bri
\ tish Lidia for the prod act ion of raw cotton willena
; hie her planters ami merchants to supply the consump
I tion of England lower than Ihe producers of any
I other country
In accordance with this view of the matter, ex
! ertions have been made to extend >he cultivation and
improve ihequaliues of the India product by impor
tations of seed from this country and all other cot
ton growing countries, and by inducing planters of
j experience and .-kill in the management of its culti
vation. to go from this country to various parts
' of India, where some of them have arrived, and are
now engaged in that object.
To aid in these designs—of the Indian Govern
ment and Indian planters—the merchants and mam.-
faciurers in Great Britain have held various meet
ings and formed associations, and ihe repor.s of
their proceedings have been published in the lead
ing journals of England with great commendation
of the zeal and enterprize of those concerned in
this important undertaking, and for the most part
participating in the sanguine expectations of the
East Indians, in the opinion set forth by them of
j their ability to “render it” —to use their own terms
j —*■unnecessary for England to have recourse to
I America , or to any other foreign marke, for the
j supply of cotton which she needs ”
ll England expects to receive her whole supply
of cotton from India there must be a rapid and great
extension of its cultivation in that quarter. The
import of cotton into Great Britain fur several
years, is as follows :
From U. a. From E. Indies. From all parts.
-POUNDS. POUNDS. POUND
i 1333 233,(>00 000 44,000,000 369,000 000
1836 281,000.000 79,500,000 404,000]000
1337 314,000,000 52,000,000 403io0o!oo0
1838 417,000,000 33,000,000 497,700,1)00
1839 304.500,000 47,000,000 338,000.000
The export of cotton of this year’s crop to Great
Britain, amounts to 1,209,000 bales, and before the
season closes it may reach 1,240,090 bales, of 375
lbs, equal to 405,000,000 lbs.
i The imports of Indian cotton into England will
be larger than last year, owing principally to the
r interruption of the cotton trade beiw een that coun
. try and China. Usually India sends to China about
55 or 60,000,000 lbs ; a portion of this w ill no doubt
r go to England, siiperadded to what would olher
r wise be sent there—perhaps 60,000,000 lbs.
1 if then we take the aggregate importation of
American and East India cottons into Britain
i for six years, they will amount to 2.064,5<»0,000 h-s.
; of the former, against 320,500,000 of the latter,
j The average for six years of tlie East India will be
; 15i per cent on the American. A quantity n t
; more than equal to the consumption o/ the facto
ries in Massachusetts. Rhode Island and Maine.
The question as to which country can produce j
i this staple at the lowest price, is a very important j
one to these States. Thus far tlie facts and tiie in- ;
farences which may be reasonably drawn from them, j
i are in our favor, as will he apparent by the follow- |
I mg statements.
The largest importation of India cotton into Eng- j
| land took place iu 1818, under the stimulus of ex- ;
• erne prices, which ranged through the years of i
*ll7 ami 1818 in the Liverpool market, 8d to IfitUj
pwymuiid, equal to 16 and 32 cents per lb. for 8(fml
and Bengal; and for American Uplands IGd to 22d, j
equal to 32 and 44 cents per )h.
The imports from India to Great Britain in 1817 j
amountedto 117,252 bales—increased in 1818i0242,- i
; 090 bales, of 300 lbs. each, equal to 72,637,000 lb.— I
j against an importation into Great Britain from the j
United States 0f216,500 bales of 240 lbs. as rated in 1
England. Thus it would appear that iu 1818 tlie i
quantity of East India cotton imported into Eng- j
land was 72,627,0n0 lbs., against 01,965,000 from the i
United States. Ihe whole imports of cotton iu !
Great Britain in 1818 amounted to 173,940,000 lbs., I
of which were consumed 111,800,000 lbs,—a quan
tity, probably, somewhat above the existing con
sumption of the United States, while that of Great i
Britain extended to 401,975,121, the average of 1838 j
and 1839, and it may somewhat exceed these figures I
tiie current year.
When prices of this staple fell, as thev did in a j
great ratio after 1818, the imports from India rapid I v i
declined, and one year below 20,000 bales, while the i
imports from the United States, though equally re- j
dneed in value, continued to increase. Iu 1818 the
imports of East India cotton to Great Britain were
40 per cent, larger than from United States. This
year the probable quantity of East India imported
in Great Britain will be about one eighth of the i
quantity imported from the United States. On the !
India importations there will he a loss at the exist- S
ing prices ot at least 30 or 40 per cent, to the import- !
ers, though shipped at as low or lower prices than
have usually been paid for it, while the shipments
from this country, it is said hy those who are con
cerned in them, will afford a saving remittance.
These facts will, we think, support the inference
to which I referred—namely, that we can under
sell (he East India cotton grower In the English
! market; for while their shipments to England have
| declined, ours have increased in the period of 21
j years, from 52 millions iu 465,000,000 lbs. We
j h i ve. too, gained in about an equal ratio opon the
j Brazil-, Egypt and West Indies, our other cnmpe- 1
j tnors in the production of this staple. In Egypt
| and the Brazils the crops have decreased the last
I 20 years, while our crops have increased from
I 138,000.000 —theool-turn of the two seasons of 1820
and 1821—to upwards of 800,000,000 lbs, the pro
duct of the season now’draw ing to a close.
But it mav be said that the existing low prices 1
are nui remunerative to tfie planter, and cons*- |
qnonrlv the crops will he Curtailed. the
ground taken in the Cotton Circular that appeared
some twelve months since, under the signatures of
Mt. McDuffie, Mr Branch, and other cotton plan
ters. They even complained of insufficient prices,
aid of combinations among merchants and manu
facturers to keep them down when the crop had
been nearly sold at 12 to 16 cents per lb. The crop
this season has not, we suppose, averaged over
3 cents per lb., and yet the cultivation has not been
lessened; nor can any intelligent person familiar
with the condition of the cotton States, point out a
more profitable employment for lands, labor and
capital, than the production of cotton at 8 cents per
lb. So far from there having been any reduction
of planting, the common opinion is, that a season ns
favorable as was the laff,will yield some JOOorSOO,-
Odd hales beyond the crop of (839.—1340, amount
ing to about 2,140 or 2,150,000 hales. It is not,
however, to be expected that the season of growth
and for securing the crop will be so extremely fa- I
vorahle as the last, and the most general anticipa- i
lion at this early day, is, that the coming crop will |
full short of tlie last by 2 or 300,000 hales, and if;
such he the case, taking into view the increased ;
consumption and somewhat decreased stock in Eu
rope—it is thought by many experienced merchants
and planters, that the prices of this coinmmodity
will range somewhat higher in 1341, than they now 1
! are or have been during the current year, provided j
! the peace of the world, and the operations of ihe
j manufacturer and merchant shall not he discourag
ed nor disturbed hy wars or me apprehensions of
wars. Such a stale of things would greatly reduce I
the consumption of cotton and all other staples of
which v.e have an exportable surplus.
On tiie whole, though the r e may be some cause I
for anxiety as to the interference of India with,
S American cotton, yet we are strongly inclined to a
j contrary opinion, grounded on some considerable
I experience as to the results of the experiments in
I India.
It is an interesting subject to the w hole country,
and especially to our Southern friends, w hose free
trade principles would nut allow them to throw any j
impediments in the way of the Northern manufac
turers, should they turn away from their staple to
that.of India. At present they regard us as unim- j
poriant customers —and so we ar# in comparison j
with the whole of Europe; but they should bear in
i mind that New England alone now consumes more j
i than half as much cotton as the whole consump- \
lion of England, Scotland and Ireland, 20 years
ago: and that, according to tlie ratio at which
consumption has proceeded ihe past lUor 12 years,
I it will be doubled tn the course of ihat period
j The consumption of the whole country may now
he 275,000 bales and in 1352 a will fully reach
500,000. This is predicated chiefly on our home
consumption, as vve only export about 3 to 4,000,000
of manufactured goods.
If, however, the currency can he kept iu a sound
state, and commerce and manufacturing remain su
disturbed by an inflated currency—necessarily tend
: ing to over importations and commercial revulsions
—we shall be able to manufacture coarse goods at j
I low, and for some articles lower than in England, j
and consequent! v our exports of cotton fabrics may
and no doubt will he extended to three or four times
I their-preseut amount.lt is indeed as certain that our
natural capabilities, when brought into lull action, I
(which they have not as yet been) to produce hea- 1
vv coarse cotton fabrics, are as competent to supply
this country with nine-tenths of all we want to con
sume, as thev are to transport the products of the
country at a lower rata than out European competi
tors, and this too under any duty which government
mav think tt expedient to impose for the purposes of
: revenue.
It is equally certain, that in many sorts of coarse !
goods we can compete successfully in the markets 1
of South America, Asia, and Africa, and in some I
parts of Europe, with our only rivals the manufac- ‘
Hirers of Great Britain. On failing to do this to a |
greater, much greater extent than had heretotore
been done, is owing to the injurious workings of a
vicious currency, and still worse system of manag
ingit, together with that want of accuracy, skill
and prudence which are characteristics of the ma
i joritv of those concerned in manufacturing. These,
however, are, for the most part, evils of a temporary
character, and can be and will he overcome, and be
t fore this century closes New England may not be
■ far behind Old England in her most important branch
o; manufacturing,
ft In regard to tbs more immediate of these
I remarks, namely, the competition of India, with the
| L. States, for the supply of cotton to the English
i markets, I would refer the render to sn interesting
aiuUyell written article, in “Hazard'* U. Stott*
Commercial awl Statistical Remitter" Vol 1 page
-■'TUQfA. It contains the remarks of an able intelli- v
Sent writer, under the signature of B, upon a eooji \
j umuicaiiou in an English Journal—in which latter \
i paper it is contended that India cotton can be soim- '
proved in quality and lowered in cost as to under*
j S, 'H American. The cauintentator, who appears
• to be acquainted with his subject, contends to the
j contrary, and though we think he has reasoned, in
I some respects upon wrong data, vet we concur in
Lthe conclusion to which he has arrived.
A The work to which we have referred is devoted
jjrtnain.y to statistics. It contains many facts which
’ ought to he familiar to every merchant, mechanic
I and manufacturer in the country, as having a useful
! bearing on their pursuits. It will also be a useful
) book of reference to the legislator and
i most of whom lessen the benefit of their labors sets
’ want of facts. It is, 1 oelive, the only journal in the
, country devoted to this useful, hut among ua, much
1 neglected brunch of science, ami it met its encourage
i menu INVESTIGATOR.
[ From the Pennsylvanian J
1 THE TIMES,
i Tlahir is second nature, and hence it is that croak
ing has become almost constitutional with opposi
tion editors and orators. Other people generally
adopt, the axiom tEat it is best to make hay while
the son shines; but, from the force of circtmtsiin
i ces. all the political hay which the gentlemen in
; question ever contrive u» stack, is mode in dark *hd
j gloomy weal he', so that when they are nhxiousto
| provide fodder, they hoist their umbrellas, pur on
their water-proofs and sWear that it rains, no matter
I how clear the atmosphere or how bright the sun.
Like the false prophets of modern time* who are
centmually announcing the end of all sublunary
things, our opponents are ever in the commence
ment of a deluge, from which there is no safety but
in their hard cider ark. There is no floating but
| in their “tippy-canoe.”
We have a striking evidence of this dispmtition,
j in the present course of the Harrison journal*. It
I has been shewn very clearly by facts and Azures,
i that the country, after suffering fearfully from the
j abuses of credit and paper money—after passing
! through ilie mad debaucheries of wild speculation!
and insane extravagance, and undergoing the na
tural and inevitable consequence of such excesses,
is now rapidly recovering—that business in nearly
all, if not in all its branches, is reviving, and that
we are in fact getting inio a sound and wholesome
state, which, if the counsels of prudence and “so
ber-second thought” prevail, we may long enjoy.
; Tliis, however, does riot exactly suit our saturnine
j friends on the other side of the way. If the sun
I does beam, thev will not see it, but crawl about
muffled aad hooded, and sighing and croaking that
there never can be a clear day until they are re
; gularly installed ns “clerks of the weather.” The
| Baltimore American, somewhat more candid or less
: under the influence of sombre habit, confessed
I that the sky is a little lighter, but ascribes it to an
j idea that it supposes the elements have got into
! their head that our opponents will obtain the said
i clerkship, and are behaving better in advance ; but
i the United Siates Gazette admits nothing of the
kind, and vve have therefore a word or two for
| that Journal.
i The Gazette of yesterday in a somewhat lugu
j brious article in reply to the New York Evening
j Post’s remarks upon the business revival, contra
dicts the .statement generally, and asserts jn parti
| cuiar that in market-street, not over one third of
what is usually denominated a good business is
j done this season. We are constrained to suspect
that our neighbor must still be looking at things
j through the “misery specs,” commonly worn by
’ tils allies. We have the words of a whig merch
ant in Market-street, that the business is not one
! fourth less than that which has heretofore been
dune in what are called good years,—that the
; trade is a fair and safe one, and that it is improving ,
! an account somewhat at variance with the Gaz
ette’s statement. We are also assured that as
western produce is in good demand and at fair pri
; ces, purchases for the west are in general promptly
paid for—that there is less of long credits, and that
the business is of a better and more secure char
acter than it has been fur some lime. The Gazette
also should be aware that there has not for many
1 years been so good a business done by ship owners
I as at present. The increasing demand fur manu
factured articles is affording new stimulus to our
ma mi facta ring establishments, and as relates to
| building and the call for mechanics necessary to
• carry on that branch of industry, why we have
but to go round the environs of the city, and tv
pass through! its streets, to be satisfied that a Very
i considerable and increasing vivacity exists in that
respect. In fact, if we are not greatly
vve bad a few days since the Gazette’s word fur it,
that quite a. village has sprung up within a Very
short time in north Broad street, consisting of hand
some houses, which we presume were not btttft
without money or without workmen ; and While
! our neighbour was surveying that quarter, a giantc
j or two at Spring Garden street and other pvhrt* of
that vicinity, would have shewn him jthat some
thing is doing thereabouts for the encouragement
I of brickmakers, bricklayers,, carpenters, and labor
ers. It may be safely said that every wherjo
throughout Philadelphia and its neighborhood, such
I evidences of activity and prosperity are to be me
! with, and it appears to us that none but the wilful
ly blind can doubt or deny it. Wo hate rarely, if
, ever, seen our city give stronger evidences of her
onward and upward march than noW. As to the
I money market, good paper is discounted readily—
the price of money is the legal interest—the day
of the shavers and of the acquiesence on the part
of sound men in the extortion of enormous rate*
: fur facilities in raising the wind, is over for the pre
-1 sent at least, and we hope forever. It is true that
there may be sufferers—those who went into ex
tensive business solely upon the strength of dis
counts—the purchasers of extensive lots and the
builders of grand houses, without the means—the
I speculators of all sorts and sizes—they who madly'
extended their operations under the evil influences
which preceded the great crash, and they who
gave rasli credits to do an enormous business, may
be sad y cramped; and some others, though more
; prudent, mav, from unfortunate connection with
the foregoing classes, and without fault on their
own part, find themselves in the same situation
But the causes are obvious, and they only form the
exception to the general tide of returning prosper
ity.
In giving a look around upon the country, the
same state of things exists. The farmer is loaded'
with abundant crops, which are in demand at fair
! prices. Laborers there are in full employment.
I vVe were told yesterday by' a large employer in the
| state of Delaware, that he could uot obtain the labor*
ere he wanted, even at the best wages, and our neigh
bors of New Jersey appear to be doing a good bu
siness. The products of their jfamrs, their dairies
and their gardens, and the same is true of their herds,
find a good market. ’Timber and cord wood are sell
ing at high prices and are in active demand, and
we must confess that on diligent enquiry we do not
find that overwhelming distress spoken of by the
organs of whiggerv, existing any where, but, on the
contrary, a brightening sky is evident.
O. S ,MA STE RH r?»IP HB E * ’» Cl OCK.
Ju*t receive/* b y THC*3. l!C8Aly»
w