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WILLIAM E. JONES & Co. AUGUSTA, Ga. TUESDAY MORNING, JULY 23 1839 lr ”
. ' VOL. lII.—No. fen
THE CHRONICLE AND SENTINEL.
PUBLISHED,
DAILY, TRI-WEEKLY, AND WEEKLY,
At No. Broad-street.
terms:
Daily paper. Ten Dollars per annum, in advance.
Tri-Weekly paper, at Six Dollars in advance or
Seven at the end of the year.
f
Weekly paper, Three Dollars in advance,or Four at
the end of year.
I - *
CHRONICLE AND SENTINEL.
A U <; 11 8 T A .
MONDAY MORNING, JULY 22.
Wo commend to the serious and considerate
perusal of all the readers of our paper, the circu
lar which follows this article, and the proceed
ings of the meeting at Macon. The circular is
signed by some of the. ablest financiers, and some
of the most experienced, skilful and extensive
planters of the South, who had casually met in the
city of New York. It seems too, to have the
unanimous approbation of a large and highly
intelligent meeting of our fellow-citizens of
Macon.
We arc not prepared at present to make any
remarks upon the propositions of the circular it
» self, and any attempt on our part to give a sketch
of its contents, would fall far short of the clear,
and forcible, yet dignified and dispassionate lan
guage in which it is clothed. We therefore
content ourselves at present with again com
mending it to the consideration of our readers.
To Ihe Cotton Planters, Merchants, Factors, and
Presidents and Directors of the several Battles
of the Southern States:
CIRC v<L a n .
Fellow Citizens: Interested like yourselves,
in the cultivation and disposal of the great staple
of American agriculture and commerce, we have
accidentally met in this city, in the midst of a cri
sis which discloses some strikingly momentous
features in the history of this most important
branch of the trade of our country.
When the Cotton Crop of the United States
was a mere item in its trade, and did not reach
a production exceeding five hundred thousand
bales, it was perhaps sale to consider it as one
among many articles of barter and exchange,
which left entirely to the fortuitous circumstances
if commerce, would find its level under the in
fluence of the ordinary laws of trade, without the
necessity of resorting to any means of precaution
ary protection.
Times, however, have changed. Cotton has
passed from the condition ot a mere article of
commerce, to the performance of the mighty func
tion of being in a great degree the regulator of
the exchanges, and the standard of value of our
country. If the nature of this material forbids its
entering into our circulation, it is scarcely less
the basis of our currency, than the precious me
tals; for the fluctuations in its price are felt with a
sensibility equally as acute and searching, as any
of those variations which belong to the demand
and supply of these sensitive and mysterious to
kens of national value.
The production of this staple, has now become
so immense, that it behooves those who produce
it by a large investment of capital at a high rate
of incidental cost, and in a climate perilous to hu
man health, to consider well, whether there are
not some material circumstances in reference to
the mode in which this product of their labor is
shipped from this country, and is brought to mar
ket at the point ofits final sale and consumption
which demand the application of a prompt and ef
fective remedy. In one word, is not the impor
tant fact disclosed, that such is the unwieldy
amount of this great staple of Southern industry,
that it cannot bo sent forward and disposed of at
fair remunerating prices, through the ordinary
medium of the mercantile establishments of this
country and in Europe, without the direct co-op
erationof our banking institutions'? If we have
become satisfied of this fact, ought we not to or
tganize a system, which shall give perfect security
to this great interest in the commerce and finan
ces of our country 1 The unwise and ruinous
El system of sending the crop forward to houses of
circumscribed means, on the other side of the wa
tfr, who are incapable of holding their consign
ments an hour beyond the maturity of the hills
drawn against such shipments, subjects in fact,
nearly the whole amount of American interests
to foreign combinations, which might act, not on
ly with entire concert, but with a perfect know
ledge of the period, when from the maturity of
the acceptances in question, property to a stupen
dous amount belonging to this country, may he
ready for sacrifice.
The great and vital change which must be op
erated, is to sustain American interests, by Am
erican credit. To realize at home, the resources
necessery for the protection of our property abroad
without the necessity of large and inconvenient
drafts on the capital and means of our great cus
tomer. In other words, the commercial reform
we desire, is to send our great staple to market,
without the period being determined by the date
of a Bill of Exchange, when it is to bo brought
forward for absolute and unnecessary sacrifice.—
We believe that the steadiness in price, which
would result from a portion, at least, of the Cot
ton crop being exempt from the disastrous fluctu
ations arising from compulsory sales, would in
the end, be scarcely less valuable to the spinner
and consumer in England, than to the grower
and shipper here. A fact, which we think de
monsatrable from the following postulates, which
wo consider altogether self-evident:
1. The natural price of Colton is the effect of
the fair and natural influence of supply and
demand.
2. The price cannot be steady, and the article
i cannot be current, so as to admit of safe calcula
tions on the part of the planters, the manufactu
rer and the merchant, unless the price be natural,
■mdt is consequently the interest of these three
classes, that the article should be protected, on the
one hand from any great and undue speculative
action, which might inflate prices above the natu
-1 ral rate—anil on the other, from any derange-
S ment in the money market, or any other aeciden
tal cause, which might depress it below that rale.
The elfcct of great and undue speculation being
to derange the money market and to produce re
i action, with an undue depression of prices.
3. The state of the currency mainly depends |
on the means which the country possesses, to pay |
its foreign debt, by shipments ofits produce. To ]
the extent its produce or manufacture falls short I
of that object, exports of specie may he induced, i
the elfcct of which must he a reduction of the
circulation, with depreciation of property and
general distress.
4. Cotton. In this country, being by far the
west important produce, and affording the great
mciiiis of paying the foreign debt, it is the inter
est of the community, and particularly of the
monied institutions, that the price of it in Eng
land, (the great market,) should he steady, and
that the article should he of current sale, so ns to
he the means of large and effective remittance.
It follows, that the interest of the banking insiitu
r lions here, are the same as those of the three
classes first mentioned, namely, that the [nice
t should be natural, that it may be steady, and of
easy realization.
5. The interest of the British Government, of
the Bank ot England, and of the banks of that
country in respect to this article, arc the same as
the interests of the hanks here. The importa
tion there being immense, and the employment
of a most numerous body of the laboring classes,
depending on the steadiness of prices. When
they arc not steady—the foreign demand for
manufactured cotton is reduced greatly, the op
eratives are thrown out of employment, and the
great means of settling the balance of trade, with
out tliWexportation of the precious metals arc
withdrawn. Manufactured cottons affording by
far, the most important branch of their export
trade.
fi. Consequently, any arrengement that could
he formed, by which the article would he protect
ed from the effects of undue speculation, and
from depression in the money market, and by
which steadiness of price, with currency of sale,
would he promoted—would save some of the
greatest and best interests in both countries.
7. It is therefore proposed to form a system by
which, with the commencement of the new crop,
advances on Cotton shall be made with the capi
tal or credit of Banks here, thereby relieving the
consignee in Europe from all care or considera
tion, except the advantageous sale of his stock,
which would promote all these interests, and af
ford general satisfaction on both sides of the wa
ter, provided it were not made the means di
rectly or indirectly, of undue speculation or mo
nopoly.
Having thus indicated the principles on which
the proposed system must find its justification
and basis, we will now as succinctly as possible,
detail the means of carrying it into effect.
We are far from imputing any premeditated
hostility of the Bank of England to American
interests; on the contrary, it is one of the bene
volent influences of commercial intercourse, to
promote peace and good will among nations and
men. Hence this great engine of the commer
cial grandeur and opulence of Great Britain, ac
ting under an elightened instinct, must rather
desire that its best customer should at all times
be in a condition to meet her engagements with
entire punctuality and success.
But there are epochs in the commerce of Eng
land, whether from insufficient harvests a languid
demand for her manufactures, or political com
binations, when the hank may, from an urgent
policy, limit her discounts, and increase her rate
of interest. This event can never occur, with
out its having a blighting influence on any sur
plus of our great staple, which might be unsold
in England. Surely, if the Bank of England ran
exercise (unavoidably,) an influence thus preju
dicial, we may resort to our own American hanks,
as a means of security and protection, without
the invidious clamor of combination and monopo
ly. It is time that the absurd and senseless cry
on the subject of banks making advances on Cot
ton, should he understood, and finally put down.
The truth ir, that by the mere purchase of the
foreign exchanges of the country, they advance
on nearly every bale of Cotton subject to foreign
export, and this without the security of the bill of
landingand policy ofinsurance, on the mere per
sonal responsibility of the drawers and indorsers
of the bill. Hence these losses arc most com
prehensive and disastrous after every commercial
crisis and revulsion.
Mow we propose giving to the hanks in 11
cases, the higher protection of these securities,
and that early next autumn one or more banks
in each of the great commercial Cotton markets
of the South, should commence making advances
on the crop, according to a scale to he graduated
by what will he a safe calculation of its probable
amount, assuming 12J cents at home, to he
about the fair natural average and remunerating
price of this staple, on a product of sixteen hun
dred thousand hales, which is about as large a
return as the actual labor of the country now en
gaged in this branch of industry, is capable of
harvesting. The embarrassments of the South
Western States having prevented the planters in
these Slates from making any purchases of slaves
from the Atlantic States, during the last two
years, whilst not less than 10 per cent, of the
slave labor of the South, has been ahstaacted in
the game period, from the cultivation of Cotton,
and applied to the raising of provisions, and to
the construction of those extensive rail-roads now
in progress, throughout that portion of the Un
ion.
For these advances, we propose that the Banks
should issue to the planters, merchants and fac
tors of the country, on the production of the bill
of Lading, and the assignment of the policy of
insurance, Post Notes of such description, and
payable at such periods as a Convention hereaf
ter contemplated, may suggest; notes, which
may he made to answer both the purposes of cur
rency and exchange, the details of which we re
fer to that body. By this arrangement however,
we feel satisfied the credits can be so distributed,
that from the day of the shipment of our cotton,
it may probably be held at least six months in
Europe, without the foreign consignee being un
der an advance of one farthing, and we think it
quite easy to confer on the houses, to which the
shipments are confided, sufficient strength, to en
able them to hold over for even a longer period,
should safe remunerting prices not be obtained
on the maturity of the bills.
With the view of securing this strength, it is
indispensably necessary, that the consignments
should not be too much diffused,but confined to
a limited number of houses in Liverpool and
Havre, who, acting as the agents of all those who
will come into this conservative system, will feel
a common interest, and will naturally aid and
assist each other under all and every contin
gency.
This Fellow Citizens, is but the brief outline
of a great scheme, for the protection of our Com
merce, Finance, and Exchanges, the details of
which, must he left for profound deliberation, and
concerted action. To accomplish this object, we
hereby invite the planters, factors and cotton mer
chants of each district or county in the Southern
Slates, and Territory of Florida, together with
the Banks, in each of the said States and 'I erri
tory, to send Delegates to meet us in Convention
at Macon, Georgia, on the Fourth Tuesday of
October next, which will be on the 23d day of
that month, that we may carefully consider the
important matters disclosed in this Circular.
We invite a candid examination of this whole
scheme, for the protection, not alone of southern
interests, hut for the security of the commerce of
the whole country.
Let it at least be tested by patient investigation,
and enlightened research ; if by this plan one
third of the entire cotton crop of the country can
V,r placed beyond the possibility of sacrifice, tt
will give security to the residue, not by entrench
e ing it behind the guards o( a speculative monopo
• ly, but by holding it in that stale of security,
d which the just relations ol supply and demand
0 will always in the long run, establish and sustain
. in the trade ot a great and civilized country.
1 hat no lime may be lost, we beg leave to ap
e prise you that an agent, having our confidence,
e will leave this shortly for Europe, clothed with
1 ample instructions, to make such preliminary ar
rangements with the houses in Liverpool and
f Havre, which may, by the sanction of the Con
t vention, have the proposed consignments,
s We are aware of the very potent opposition,
- which a plan looking even to self-defence, must
t invite both athomc and abroad, as it runs counter
, to a variety of interests, too powerful and too sus.
i ccptible of combination, not to be aroused into
r active, and perhaps inexorable hostility. If our
- appolygy is not to be fouud in the plea, that we
e right to hold our own property by the
- means ol the credit of our own country, then we
e fearlessly say, we mean at hast to attempt it, in
i despite of any opposition however eager and im
t placable.
We have seen in the face of a crop of 1,350,-
1 000 Bales, an effort made, and very nearly rc
- suiting in success, to coerce the acceptance of
1 the same prices, which were incident to one of
' 1,800,000 bales. We ought not to rest our se
, curily on the adverse omens of the crop, which
? is now growing under the will and dispensation
of Providence, which has already suffered in many
' quarters from an intense drought, and in others
, from the ravages of the insects so destructive to
- its growth and maturity. We should look be
-5 yond the era of the short supply of the last year,
• and an apprehended deficit during the coining
, season. The lessons of economical wisdom bc
• long to all seasons, and all times, and there is a
• salutary truth in the homely aphorism, that those
■ who do not take care of themselves, arc not like
- ly to be taken care of by others. We therefore
submit this call and invitation to you, with the
i earnest hope, that you will be prepared to co-op
i crate with us in a measure, in which we believe
, the highest interests of our common country are
involved.
1 We remain, very Respectfully,
1 Your ob’t. sev’ts.
Nath’l. A. Wake, of Mississippi.
> John - G. Gamdee, Florida.
I Thomas E. Tautt, Alabama,
W. H. Pit att, Alabama.
D. P. Hill house, Georgia.
.1. J. Hughes, Yazoo, Miss.
Nathan McGehee, Louisiana.
Geo. McDuffie, South Carolina.
D. K. Dodge, Florida,
J. L. Hunter, Alabama.
James Hamilton, South Carolina.
A. I). Davis, Georgia,
11. W. Hilliaiid, Montgomery, Ala.
John Bhanch, North Carolina.
New York, July sth, 1839.
P. S. All the Southern Papers, will oblige the
signers of the above Circular, by giving it an in
sertion in their respective papers.
From the Macon Messenger.
At a large and very respectable meeting of the
Citizens of the City of Macon, called to take in
to consideration the annexed Circular addressed
to the Cotton Planters, Merchants, Factors, and
Presidents and Directors of the several Banks of
the Southern States; Isaac G. Seymour, Mayor
of the city, was called to the Chair, and Wash
ington Poe, appointed Secretary.
The Chairman after stating the object of the
meeting, proceeded to read the said Circular—af
ter which the following resolutions were offered
by Absalom H. Chappell Esq,, and seconded by
Mr. Jerry Cowles—and unanimously adopted by
the meeting.
Resolved, As the opinion of this meeting, that
cotton, thegreat staple of the Southern and South
western part of the Union, having become, in a
very eminent degree, the controlling commodity
of the commercial world, and the influence which
it exercises over the agricultural and commercial
prosperity of our own country, and especially o)
the cotton growing region of it, being of the most
absolute and paramount character. Therefore it
peculiarly behooves the citizens of the Southern
and South-western States, earnestly to deliberate
whether any, and what system ran be applied to
the cotton trade, that shall impart to it greater
steadiness and certainly, and secure to the com
modity, with at least some approach to uniformi
ty, what may be properly called its due and natu
ral price—that is to say. a price based on the pro
portion of the annual supply, to the annual de
mand of consumption—thereby protecting it as
far as possible from those violent, ruinous and
incalculable fluctuations which are of such fre
quent occurrence, and which are in numerous in
stances, the direct offspring of artificial causes
and combinations.
Resolved farther, That this meeting concur in
the views set forth in the circular which has been
read to the meeting from the Chair, and that wo
believe the measures therein recommended, are
sanative in their character, and if carried out. as
contemplated, will lie conducive to the interests
of the cotton growing States anil therefore should
commend themselves to the consideration of eve
ry citizen of the South, whatever may be his call
ing or profession.
Resolved, That fully appreciating the compli
ment bestowed upon our city, in selecting it as
the place of meeting for the proposed Convention,
we do most cordially, and earnestly solicit our
Fellow Citizens of the Southern, and South Wes
tern States, and the Territory of Florida, to meet
us at this place on the fourth Tuesday in Octo
ber next, to deliberate on the important matters
disclosed in the before mentioned Circular.
Resolved, That a Committee to be composed
of twenty-one, be appointed by the Chair, to ef
fect the object embraced in the last Resolution,
and that said Committee have full power to adopt
such measures as to them may seem proper to
obtain a full meeting of all interested in the sub
ject set forth in this circular.
Whereupon the Chair appointed the following
gentlemen that Committee.
A. H. Chappell, Everard Hamilton. J. Cowles,
Jas. Goddard, Richard H. Randolph, Eugenius
A. Nisbet, D. C. Campbell, Elias Beall, L. L.
Griffin, Chas. Cotton, Geo. Jewett, Leroy Na
pier, N. C. Monroe, Ambrose Baber, A. Clopton,
Richard K. Hines, E. D. Tracy, Henry G. La
mar, Levi Eckley, Wm. U. Parker, and Isaac
Scott.
Resolved, That the Chairman be added to the
Committee.
On motion of Henry G. Lamar, Esq., it was
Resolved, That the Editors of News Papers in
this, and all the States interested in the subject, be
requested to publish the said Circular and Reso
lutions.
Resolved, That the Editors of papers in this
I City, are requested to publish the above proceed
ings.
, On motion the meeting adjourned.
ISAAC G. SEV MO UR, Chairman.
Washington Poe, Secretary.
July 17, 1839. ,
For the Chronicle <§• Sentinel.
A Specie pitying Hank.
Ihe four per cent, law, as it is termed,
(an extract trom which wo give below,) has re
cently been put in force by the Ocnmlgec Rank
of Macen ; not only against banks, bank-agents
and brokers, but to one individual at least, (or
more,) who is entirely unconnected with either
one or the other. The four per cent, law is
unquestionably unconstitutional. It is quite ri
diculous to suppose any citizen forfeits the bene
fits and privileges enjoyed by his fellow-citizens,
merely because he prefers, or by chance, happens
to deni in depreciated bank “promises to pay.”
But admit the law is constitutional, it does not say
the Bank is authorised to refuse a Bank or Brok
er specie, when it is demanded. It merely points
out what rate of interest shall be mulct when
the Bank cannot pay the legal tender, and the
Bunk refusing, docs moat unquestionably, under
the very law she endeavors to shelter herself,
open a door for the forfeiture of its charter. And
any Bank, who screens herself under such pro
vision of the legislature, tacitly admits that she
is unworthy of public credit, and should not be
allowed to continue the further use of her char
ter. It is not to be supposed that the Legislature
in enacting this provision of settlements between
Banks &c., intended to give a Bank the privilege
of issuing her credits, and redeeming them or
not, as might suit their own terms and conven
ience. No such thing could have been suggested
to our Legislature in this matter, and it is cer
tainly a suicidal step in any institution to refuse
its specie when demanded, no matter by whom.
And any such refusal, is palpable evidence that
she is incompetent to meet her engagements; for
no institution possessing means and common
honesty, would dare to take advantage of, to say
the least of it, a very ambiguous act of our Legis
lative body. The affidavit annexed, was tender
ed to an individual on the sth inst., by the Oc
mulgee Bank of Macon, on his presenting the
sum of 5,000 and odd dollars of their notes for
payment. He offered to lake the oath required
by the four per cent, law, and the Bank still
refusing to pay, their notes were protested. Let
the community judge whether the annexed affi
davit is such us the law prescribes, or such as
ant max could take without perjuring himself.
It is understood, (and no doubtexists of the, fact,)
that a large portion of the stock of this Bank
belongs to the South Western Rail Road Bank
of Charleston, which Bank is now purchasing
up the notes of the Ocmulgee Bank at their
counter, at two percent discount!! The very
notes too, the payment of which has been refused
by the Ocmulgee Bank. We say let the com
munity decide whether the Rail Road Bank of
Charleston is justified in this species of brokerage
exchange business, whereby the innocent Bill
holders of Ocmulgee Bank notes are taxed,
shaved and made to pocket a loss of two per
cent.
Our Legislature in November next, will, we
trust, adopt the same measures relative to the
forfeiture of their charter, as they did with the
Merchants’ and Planters’ Bank of Augusta,
when that institution failed to redeem their
notes with specie. An extract from the charter
of the Ocmulgee Bank we give below. Let our
Legislature do their duly, and the currency of
the State will be kept sound. A Plantku.
roun run CENT. LAW.
Sec. 2d, And be it further enacted, &c. —
That whenever a demand shall be made for spe
cie upon either of the Banks incorporated by the
General Assembly of the State of Georgia, or
upon any Bank located therin, by lawful author
ity, and the president or cashier of the Bank up
on which the demand shall be made, shall suspect
or believe that the person demanding specie is the
officer, agent, or attorney of any broker, or any
incorporated institution whatever, whether au
thorised by the General Assembly of the State
of Georgia, or located therein by lawful authority,
or created by authority of any of the States, it
shall be lawful for the cashier or president of the
Bank from which specie shall be demanded, to
require the person or persons making the demand,
to lake an oath before a judge, justice or magis
trate in presence of said president or cashier,
that he is not acting as the officer, agent or at
torney of any broker, or of any incorporation
whatever, and in case of a refusal to take said
oath by the person or persons demanding specie,
then such person or persons shah not be entitled
to claim, demand, recover, or receive interest on
such bill or bills, note or notes, beyond the rate
of four per centum per annum.
Georgia, Bibb County :
Before me.C. A. Higgins, a J ustice of the Peace,
in and for said County, being sworn, de
posed) and says, that he is not a Broker, nor the
agent, attorney, or officer of any Broker. That
he is not the agent, officer or attorney of any
Bank or other incorporated institution whatever,
cither directly or indirectly. That he has not
collected, acquired, purchased,or received, in any
other way, any of the notes or bills now present
ed from any Bank, broksr, or any incorporated
institution, or trom any officer or agent or other
•person Cor them. That he had not given any
Bank, broker, or the agent of cither or any other
person for them, his note, receipt or any other
obligation whatsoever, or entered into any verbal
agreement, or understanding, that the money
about to be converted to the use or benefit of
other than himself, and that the bills now pre
sented for redemption, are bona fide the property
of deponent, and that no other person or per
sons whatsoever, or body corporate has either
directly or indirectly any interest therein.
Sworn and suberibed to before ?
me, this 4th day of July, 1839. 5
The original oath required by the Ocmulgee
Bank, to be deposed to by A.—B.—on the de
mand of $5,920, notes of said Bank.
C. A. HIGGINS, J. P.
July 4, 1839.
Extract from the Charier of the Ocmulgee
Bank, Macon.
Sec. 7lh. And be it further enacted, That
the said corporation, shall not at any time, sus
pend or refuse payment, in gold or silver of any
of its notes, bills or obligations; and if the said
corporation shall at any time refuse or neglect to
pay. on demand, any note, bill, or obligation, is
sued by the corporation according to the contract
promise or understanding therein expressed, the
charter hereby granted, shall be forfeited: pro
vided, however, that when a demand shall be
made on this bank, by any bank or bran h bank,
by itself or its agent, the bank shall have the
right of redeeming the bills thus demanded, with
the bills of the bank or its branches, making the
demand.
The Sea-Barpent is again chronicled in the
Eastern journals, On the morning of the fourth |
instant,he was “distinctly” seen by two “respect
al»lc* citizens of Chelsea, who were engaged in
Mr. Cambreleng’s favorite amusement of “fish- I
ing.” They sailed nearly around him hofore he [
disap; eared. His length they estimated at from '
100 to 120 feet,—A 7 . Y. Cow. * Eng.
tor the Chronicle and Sentinel.
Mmo Hall, 7, 20, 09.
Messrs. Editors ln looking over “Pres
ton s Book-Keeping,’ 1 found a question which
puzzled me n good deal. It is pretty much as the
following W hat net profit, per cent., does a
man gain, who sells merchandise at four hundred
per cent, advance, and allows fifty per cent, com
mission on (lie sales ! That ho only realises one
hundred and fitly percent, on his purchase is evi
dent, hut the rationale or general rule is the diffi
culty in the ease, and should like to see it f ur
nished by some of your leaders.
1 will, nano one has solved “Dull Times’”
question, give the general rule lor questions of
like nature: —Divide the diameter by the square
root of 2, and you have the result. So says Mr.
I ike, and he is quite authority in such things,
SlaM BaNO.
N. B.—\V hy is Lyman Preston like Herculesl
Live it up I Because he’s u wheel-horse.—
Why is his hooka the best ever published ! Be
cause tne Ming Hall Club have voted him an
“ Honorary Member,” and use none other.
Correspondence of the United States (lazelte.
, Nkw York, Wednesday, P. M.
We still continue without any intelligence of
. the British Queen, and it is thought that she had
not been able to get off on the Ist. The Wes-
I tern, on Sunday or Monday, may yet bring us the
latest intelligence, which, as you may presume,
, i« looked for with almost painful interest.
A Bloody Battle—Two Thousand Men
hilled.
i Buenos Ayres papers to May 11th, received
by the editors of the New York Journal of Com
merce via Boston, bring the particulars of a bloody
buttle which took place on the Hist of March, at
a place called Pago Largo, between the armv of
i Corrientes (one of the Provinces of the Republic
of Rio de la Plata) and the troops of Entre Rios
(another of said Provinces.) which the Corrien
tians, in connexion with the Oriental Republic
(of which Monte Video is the capital) were at
tempting to revolutionize.
It will be recollected that not many months
. since, Gen. Fructose Rivera, or Frutos, as he is
familiarly called, raised an insurrection in the
Oriental Republic,and succeeded in casting Gen.
Oribe from the Presidential chair, which Rivera,
; of course, immediately ascended, adopting such
forms of procedure as would best save appearan
ces. Oribe, with a number of his friends escaped
to Buenos Ayres, and awakened in that capital
so much interest in his own behalf and in oppo
' sition to Rivera, that the latter determined on re
venge, and accordingly issued a Declaration of
war against the United Provinces.
In this he was encouraged by the French au
thorities at Monte Video, who were in hopes, the
movement would result in the downfall of Rosas
(Governor of Buenos Ayres, and therefore ex
fflcio conductor of the foreign operations of the
, United Provinces.) This hope was strengthen
ed when, soon after, means were found to gain
the co-operation of the Province of Corrientes,
• through the influence of its Governor. G n. Ai
r trada. So here were the Oriental Republic and
f the Province of Corrientes, enci uraged by the
French authorities at Montevideo, about to make
war upon the United Provinces. And for con
venience sake they directed their first operations
against the Province ofEntrc Rios. The rest is
sufficiently told in the annexed ex tracts;
Bku.vos Arnes, May 4. — The official details
of the battle of Pago Largo, arc published in the
Gaceta Mercantil, in a despatch from General
Pascual Gchaguc to 11. E. the Governor of Bue
nos Ayres, dated head quarters, Corusacuatia,
sth ult. It states that the army of Corrientes. in
number more than five thousand men, including
45n infantry and artillery, with three 4 pounders
occupied an advantageous position. 'Flic right
wing of the army of Enlre Rios was commanded
by General Justo Urquisa, the centre by General
Servando Gomez, and the le.ft under the imme
diate orders of the Commander-in-chief, General
Echague. The Entrc Rios ca'airy charged that
of Corrientes with suchjmpetuosity, that the lat
ter was speedily thrown into disorder, and cut
down in all directions, whil t the infantry ofEntrc
Rios, consisting of 360 men, with two 2 pound
ers, killed or took prisoners all the infantry of
their opponents, and captured the three pieces ol
cannon above mentioned.
The reserve of the Entrc Rios army took no
partin the action; its assistance not being neces
sary, The Correntinos left on the field of battle
1,900 men killed, including 84 officers, ns also
Genaro Beron de Astrada, Governor and Captain
General of the Province of Corrientes, and Com
mander in Chiefof its army. 450 prisoners, 500
muskets, 1500 lances, 300 carbines, a nearly equal
number of swords, fi wagons of ammunition,
more than 3000 horses, a standard, the baggage,
correspondence, &c., fell into the hands of the
victors.
The despatch concludes as follows—
“ Our loss in the glorious victory over the rebel
army consists of 6 officers killed, 8 wounded, 50
g oldiers killed and 96 wounded.”
Application opGalvanism ash Magnetism
to Machinp.ry. —There is now in operation, at
No. 58 Gold Street, in this city, a machine, pro
pelled by a galvanic battery, on four electro mag
nets, which furnishes a mechanical power already
applicable and used for many purposes.
The motive wheel of this machine is five feet
in diameter, weighing about four hundred pounds,
and the magnets, when under the action of gal
vanism, cause it to revelve forty or fifty times in
a minute, for many hours in succession. Noth
ing can he simpler than the operation of this ma
chine, which is on a plan entirely new, and quite
different from that of the machines propelled by
this power which have heretofore been exhibited
to the public.
The vivid sparks of electricity which arc con
stantly emitted, while this engine is in motion,
bear evidence to the tremendous energy of the
power now brought under the control of man for
useful purposes of life.
No reason can be assigned, we believe, why
this power cannot be increased indefinitely. In
calculable benefit would be conferred upon socie
ty by the discovery of this new and simple mech
anical power, if it were only available from that
of a single man to that of one or two horses,
where the employment of steam is dangerous and
expensive. We advise the friends of science and
the arts to visit this machine, as it may he seen
daily in operation at the place above mentioned.
— N. Y. Cum. Adv.
Goon Crops. —There never was so fine a
prospect for fine crops of Corn, and < lotton in our
country, as the present season presents. We
I were shown a full grown Cotton hole, taken from
| the field of Mr. E. Young, of this county, some
fifteen or twenty days since, and also, on Sun
j day las; w h one taken from the Ph ntation of
Mr. R Ridley, with the snowy staple of the
J South pendant in dro< ping folds from the bole.
1 One of the oldest and most extensive Planters of
■* ’ V# UJ
the county stated that if present prospects were
realized that he wou.d not he aide to gather all'
ho would make, and that he never saw so fair a
1} July m ll{e — Marim CM*s.J Whig,
The military force of Pennsylvania presents a
Brand total,of 207,463 men, divided as follows:
I Uoimnumicr-in-Chief.
16 Major Generals— 34 Brigadiers.
34 Brigade Inspectors— 1 Adjutant General.
S Arsenals.
136 regular regiments, and 5 irregular hatta
lions of militia, numbering 175,929
Cav “lry 6,005
Artillery & infantry,.... 14,557
Riflem * n 11,936- 31,524
(■rand total of militia, 207,463
Pitk Danger op Rutting. —Some weeks
since, a clerk of a market near our city, looked
into the cutter tub- of a market man anil thought
ho discovered a small deficiency in the size of
tumps. Whereupon ho brought forth his balan
ces; with an air ofjijstico, and proceeded to weigh
tile whole, by parcels. Every lump was short of
weight. So that thirty pounds of butter (less
tile illegal deficiency in each' lump) was confis
cated.
A week or two afterwards, the clerk, in the
1 faithful discharge of hir,.duty, stopped at a butter
, tub, and tried a pound in, his scales—it was cor
rect; he tried another and another. At length
the owner said: “You need not trouble yourself
1 —you will)find all of my butter correct.” The
clerk looked up, and discovered his old friend of
the light lumps. “Perhaps 1 shall,” said he—
“hut il l am not mistaken, I took thirty pounds
from you, a week since.
‘lt was not from me.”'
“It was. I know you;”
“1 will bet live dollars you never took thirty 1
pounds ol butler from me, at any one time.”
“Done.”
The mnucy was staked—and the clerk told his
story. I looked blue for the countryman.
“I admit the loss of thirty lumps of butter,”
1 Ba >d he, “!>«( to Have been thirty pounds there
, tiiiiKt have been a pound in each lump.” “Now,
, cither the clerk did me injustice by confiscating
my butter for unlawful weight, and I may claim
hark ol him thirty pounds, at 25, cents per pound,
which is $7 50; or he did not take thirty lbs.
and 1 may claim my bet of /we dollars. The
clerk gove up the bet.
Moral —Make no light lumps of butter—and
no heavy five dollar \,els—Phil. U. S. Gazelle* J
COMMERCIAL.
Latest dates from Liverpool, June 14
Latest dates from Havre, June 10
Savannah, July 10.
Cotton. —Arrived since the 13th Inst. 759 bales
1 Upland, and elearad at the same time 2360 bales
Upland and 123 bales Sea Island, viz: to Livcr
-1 pool 901 bales Upland and 123 bales Sea Island;
, (0 New York 1236 babe Upland; Portsmouth 88;
Boston 155; leaving a stock on band inclusive of all
j 011 shipbaard not cleared on the I9tb inst. of 1465
bales Upland and 158 bales Sea Is and. The trans
s actions in Cotton continue very limited owing to a
1 scarcity of both buyers and sellers. Prices are
without change since our Inst. The few holders are
s waiting anxiously for further accounts from Liver-,
i pool, say per British Queen or Great Western. The
only sale we have to report is 37 bales at 13j. In
. S.-a Island nothing doing.
It ice. —The market for this article is very, dull
4J a4 j, fur city consumption. Holders are will
ing to beat ■ t $4iJ.
Flour. —Continues dull. Sales of Howard st.
at s7j. Canal at f)S aB^
Corn. —Uetails fiorn store at 95 a 102 c according
to quantity and quality.
Groceries. —ln Codec Sugar and Molasses a mo
derate retail business doing without alteration in
prices.
Hay. —Sales of 250 bundles at $1 1-6. From
store at a l|.
Bacon.— There is a mo«!«ratc retail demand for
Shoulders at ; Sides at. 12j ; Lardat 16.
Spirits. —ln domestic liquors small sales of
Whiskey at 45 a 46 ; Gin, at 48 a 60c.
Exchange. —Cn England nominal. Drafts at
sight on New York I 4 a 2 per cent, scarce.
Freights.—To Liverpool dull at gd ;to New
York 7o cents dull.
CiiAm.BSTON, July 19.
Colton. —Our markets this week have been very
quiet. Upland Gotten still maintains tbeadvance
noticed incur previous review, on all descriptions,
and considerable quantities could have been dis
posed of atasmall reduction,but holders felt no in
clination to yield, hence the insignificant amount of
business done.
The contradictory accounts from England receiv
ed lately, have left maiy in doubt as to the actual
slate of the market there, although the general im
pression is, that the article has a downward tenden
cy. We report-sales of 633 bales at from 12 to 15
| l-2c per lb
Long Colton. —2ls Sea Island were disposed of
at from 40 to 60c and upwards; 45 Santees at 40c.,
and 7 stained at 18 to 25c per lb.
Rice. —Little has been done, in the Rice market
I tliis week, but there is no reduction in prices—464
tierces sold at from S3J a per cwt
Flour. —business has been confined altogether to
retail operations for home consumption, and no
material altertion in prices from last report, can be
t observed.
Grain. —Three cargoes Com wore received this
week, and a part sold at HOcts. per bushel. No
, arrival of Oats or Peas.
Hity. —A lot of northern was thrown into market
this week, amounting to about 700 bales, and sold
at from 87 1-2 cts. to $1 per cwt.
1 Groceries. —ln Coffee and Molasses, a few trifling
lots have been taken for the home business at about
1 previous prices, t)n Friday evening last about 230
. hlids Aluscovado Sugar, middling and prime quality
. were so'd to a house in our city for the fall trade,
at terms not made public, but known to be in our
quotations, viz: 7 a 10 cents per lb. A lot New
( Orleans Sugar, offered at auction was withdrawn
' fur the want of purchasers,
Bacon. —Hams are still selling in small lots at
15 to 17c.' Shoulders 9j to 10A, and Sides at 114 to
| 12c. per lb.
I Aril is worth 134 to 15c.
Salt. —800 sacks Liverpool brought $1 624 per
sack.
Exchange. —Sterling bills on England 94 a 10
per ct prem; on France 5 10 a 5 12. Bank of
Charleston —Sight Exchanges on the North Ij per
cent, takes Bills on New York, Boston, baltirnoie,
and Hichmord 30 days par; CO do, 4 dis.;Bo,l 4 do.;
Philadelphia, do on New Orleans and Mobile 14
per cent; on Camden and Columbia S. C. par.
Freights —To Liverpool j 1 to 7-16 d per lh„ tir
Cotton. To Havre. 1 sent per lb. To ?7?tF'Vork
50 cents per bag for Cotton. Rice, 50 cts. per
tierce.
STATEMENT OV COTTON.
S. Island. Upland.
Stock on hand Ist Oct. 1838, 924 2219
j Received this week, 1,0 020
Previously, 11017 199270
•
11956 202109
Exported this week, 67 3015
Previously, 9597 189533
On shipboard not cleared, 160 2050
,194593
?tock on B»sd Hm