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WILLIAM E. JONES.
AVI STA, iiF ‘° ’’ ISYENINC, I S BiU ARV 27, 1837. [Scml-wcckly.]«Vol. 17. **
JhiJUsiKT)
DAILY, SEMI-WEEKLY AND WEEKLY,
At Mo. 261 Broad Street.
TERMS —Daily pnpet, Ton Dollars per annum
in advance Semi-weekly paper, at Five Dollars
ss heretofore i.i advance, or Six at the end of the
year. Weekly paper, Three Dollars in advance, or
Four at the end of the year.
Saturday Feb. 25, 1837.
The United States Telegraph has been discon
tinued, and a new paper called “ the Reformer,”
has risen in its place. It is published by W.
W. Moore, A. Co., and edited by R. K. Cralle,Esq.
Dr. Williams, the celebrated Oculist, propos
es a visit to this city on or about Thursday next.
We have, at our office on Broad street, a large
printed paper containing testimonials of his repu
tati:n and skill, which those can examine who
* choose.
HEALTH OF CHARLESTON.
The Board of Health reports the deaths of ten
persons in that city, during the week ending on
the -9th inst.—4 whites and G blacks.
CHARLESTON RACES,
The Mercury of yesterday gives the following
as the result of the second day’s race over the
Washington Course, three mile heats, for a purse
of §6OO.
D. Gcionnahd’s c. g. Clodhopper, 11
Col. Spasm’s s. in. Betsy Baxter, 3 3
Col. Hampton’s Lath, 2 drawn.
Time, first heat, Cm. Os.—second heat, 6m. 9s.
After the above, a sweepstake mce, two mile
heats, took place between Vertumnus, Danger
field, and a sorrel marc, Prunella, which was
*■ won in two heals by the former.—Time Ist heat,
2m. 2s.—2d heat, 2m. 4s.
QUICK TRAVELLING.
By the Express Mail which arrived this morn
ing, we have received slips from our correspond
ent in Baltimore and New York, dated Feb. 13th.
—Where have these slips boon delayed 1 The
intelligence they contained would have been of
interest if received at the proper time. We see
complaints of the want of punctuality in the ar
rival of the Express Mail in a number of our
exchange papers, and if this evil cannot be re"
medied, it had better be abolished. We ought t o
have received four or five slips from New York
this morning, and only two came to hand.
. R. M. WHITNEY.
The trial of this worthy before the House of
Representatives, for contempt of tho Committee,
in refusing to answer its interrogatories, has been
concluded, and he is now discharged. Thus
have the servile and partizan majority of that body '
sanctioned his course in contemning their own 1
authority, and setting at naught their committee.
When will the outrages of the party in power
have an end I When will our country be re
deemed from the misrule of second rate dema
iirnnrues, who are prostrating before them all that
oble and dignified in its institutions. When
Georgia bo redeemed from the deep and last
degradation to which she has been reduced
he vassalage of the delegation which has mis
•esented her for two sessions of Congress ?
CLASSICAL FAMILY LIBRARY.
Ve find on our table tho numbers of this val
le and highly useful work, from 34 to 28 in
live, containing the history of Rome, by that
ivalled writer and historian Livy, translated
3eo. Baker, A. M., and published by Harper
Irothcra of New York. Those who arc dc
us of instilling into the minds of their chil
i a knowledge of tho greatest of ancient Re
lics, could not put into their hands a work
e excellent than that of him who was the fa
of Roman history. It is indeed a work from
ch all classes of citizens, young and old, may
vc profit and instruction.
’he numbers in question are from tho Book
e of Messrs. Richards & Sror, where they
J just been received, and are for sale.
[from our correspondent.]
Washington, Fob. 20, 1837.
THE WHITNEY FARCE.
’his contemptible business is over. Reuben
Whitney has been discharged without any
ike or reprimand; and yet without any at
pt at exculpation; for his counsel gave up
only ground assumed in justification of
contumacy, namely, the fear of appearing
we Mr. Wise. The majority' have there
s decided that a contempt may bo commit
ted on them with impunity. They might have
gone one step farther; and resolved solemnly
that it was impossible for any one to commit a
contempt on them; and I doubt whether they
l*ould have found one honorable and candid man
to gainsay the assertion. The Mock Trial is
Over; and now all that can bo done is to place
o|lhe execrable purposes of tho Party, and their I
dacanness and vindictiveness, as manifested
jJHproughout the whole proceeding, strongly before
l(le public. When they are understood,,.they
■nnot fail to excite general disgust and indigna
■The important facts ate, that the Van Buren
Inanagcrs have contrived by party organization
•nd discipline, to spend a whole week in the ox
yAggpunation 'of witnesses, touching matters in no
** way connected with tho real question before tho
JSousc—and only for the purpose of injuring, if
the reputation of two ardent, impetuous,
|put highly gifted young men ; who the party
k*#iow. are of more use to the cause of the oppo-
ISition, than scores of milk and water, “ if the
JBoad should be pretty safe,” adversaries of the
That after spending a week in
Shis manner, equally idle and disresputable, a
Hfcroposition was made by a Van Buren member
to stop all further proceedings, which would es-
Jjcctuall deprive those gentlemen from adducing
f jftiy testimony in their vindication—aqfl that
%hen a member offered a resolution for alkwing
them to examine witnesses in their own defence,
it was laid on the table by a party vote ! \
But this is not all—nor a tithe of the sum jof
their contemptible and odious practices.
It will be readily acknowledger!, that if it coufe
he proved that the President had said that Messrs,
>%jMe and Peyton ought tope Uoustonized, mean-'
gS&phcrcby that they ought to be assailed in the
—if the President did use language so
MHptg and stimulating, so well calculated to nerve
thallrm and direct the weapon of some daring
ruffikn. it was the duty of these young men—a
du>JT they owe to their wives and families, as
well as themselves that they should prepare
. themselves against insidious and treacherous
violence by going armed. It is a matter of com
a mon notonety that Jackson did use this language
e A <lUest,on was P ut “> Mr. Fairfield, in order
,r to ascer,a| n whether he knew that the President
. h®* l lll “ s spoken. But the major,!,j -would not
allow it to be put! A pregnant refusal. Con
- science made covia' ds of them,
- M orse followed; and I ask the attention of all
who do me the honor to read these letters, to at
. tend to the conduct of tho majority. The com
. rmttee appointed on the part of the House to ex
amine witnesses had summoned Messrs. Vander
- pool, Cramer, Page, and Mann of New York,
• Mr. Gholson, Mr. Muhlenberg, and Amos Lane.
It was expected by the testimony of these per
sons to prove the alleged declarations of the Prc
-1 sident, and many other things the party would
prefer to have undeveloped. Just as tho time
arrived when their witnesses were to bo called
at that precious moment—Amos Lane, himself
one of the witnesses, moved that the proceedings
bo stopped, and Whitney discharged; and de
manded tho previous question on his own mo
tion, which cut off all debate and remonstrance.
The call was sustained; and the trainbands
voted in solid column for tho motion, and of
course carried it.
Tuesday, Feb. 21st.
The party have identified themselves still fur
ther with Whitney. Mr. Peyton today submitted
a motion that R. M. W T . he required by a sub
poena signed by the Speaker, to attend tho Com
mittee of which Mr. Garland is Chairman, and
testify to certain matters which he mentioned.
His reason for this motion was that the Commit
tee had decided they had to issue a subpoean !
Tho House refused his request. He then asked
that Whitney should be brought to the bar of
tho House; and there be required to testify to
the matters mentioned ! This was also refused.
So Whitney is absolved from attendance on either
Investigating Committee. The party thinks he
has already disclosed too much for than honor or
reputation.
INDEPENDENCE OF TE^AS.
The resolutions reported last week by tho Com
mittee on Foreign Affairs, providing for the re
cognition of the Independence of Texas, and for
a salary and outfit of a Public Agcntto be sent to
that country, were taken up to day, and after a
brief debate laid on the table. The test question
will be on the motion which Mr. Lewis of Ala
bama, intimated his intention to make tomorrow,
on calling the resolutions from the table.
The remainder of tho day was opent in tho
consideration of the Navy Appropriation Bill,
which was finally reported to tho House.
The Senate have been engaged during the most
of til eday with Mr. Wright’s Bill for the reduc
tion of the revenue. It is still under considera
tion in Committee. It is extremely doubtful
what wilHte the fate of this measure. I am yet of
opinion that no material reduction will bo made
at the present session. Tho President holds a
Levee tomorrow, and has announced he will en
tertain the Democracy with “ Cheese.”
SPEECH OF MR. KING, OF GEORGIA,
On the Land Bill,
Tuesday, January 31, 1837.
The question being on striking out the fourth
section of tho bill allowing pre-emptions—
Mr. King said that ho perfectly agreed with
some of the friends of the bill, who had ad
dressed tho Senate, that this clause did not
essentially differ in the principle from the other
provisions of tho bill. If the clause were
more objectionable, it was in the extent and
not in tho character of its operation. The
whole bill, ho said, was one to encourage a
system of fraudulent speculation, partiality,
perfidy, and plunder, in which those who had
the least conscience would make the most
money. Ho hud waded through all the va
rious amendments made and proposed, and
thought lie now understood the character and
objects of the bill as amended, and if it were
to pass in the present, or any form likely to he
proposed, he cared hut little about the details ; '
and, perhaps, the worse its provisions the bet- i
ter it might ultimately prove for the country. 1
Thus being opposed to the whole objects of i
the bill, Mr. K. said ho would take the occa- I
sion to make somo remarks upon the general I
subject, before tho question should be taken i
on the fourth section of tho bill. <
It was not likely, at least he hoped not, that
wo should haye, strictly, a party vote upon J
this question. It was ono of those measures '
of which we iiad too many in our country ; t
which purposes bounties and advantages to '
some sections of the country at tho expense t
of the remainder. That such legislation <
should he popular with those who expected to r
be benefited by it, was not at all surprising, c
But that those whoso constituents were to be t
despoiled by the unjust and unequal operation
of the measure should quietly submit to it '
ought not to be expected. Yet it is a molan- »
choly truth, said he, in the history of human i
affairs, that such are the hidden clicatcries, by f
which the machinery of legislation is frequent- <
ly made to transfer the labor of one class of 1
citizens into the pockets of another, that it <■
often happens that the most partial, unjust, 1
and unequal legislation is precisely that (
which obtains the most positive popularity, f
and docs most credit to those who may hap- 1
pen to propose it. The reason, ho said was I
obyious. These partial benefits were plain 1
and palpable. They were felt by the favored, I
and perceived by everyone, whilst the injury f
and injustice to the great mass of the com- i
munity were more widely diffused; and, being s
somewhat of a negative charactei are not so 3
easily perceived or estimated. But (said Mr. I
K.) I doubt very much whether either the ig- t
norance or the apathy ot a majority of the I
People of the United States, and particularly '
of the old States, will be sufficient to protect i
this measure against that discontent which <
the gross injustice of it is so well calculated ■
to engender.
Mr. K. said that, as tho basis of all just re- I
mark upon the subject, it should be constantly 1
recollected, as it had been repeated, that the ■
public domain was a public fund; as much '
so as the public money in the Treasury of the
United Slates. It should, therefore, be ad- i
ministered and distributed among the people '
with as much equality as was consistent with 1
a fair administration of the laws. It had been
truly said that a largo portion of this public
domain had been purchased with the common
blood and the common treasure of the people
of the old thirteen Stales. In obedience to
[this feeling, and in answer to the petitions of
their fellow citizens of the other Slates of the
Confederacy, the people of these Stales, who
had the exclusive right and jurisdiction over
this properly, had generously surrendered it
dor the common benefit of the whole. An
other large portion ol this property, he said,
feid much the largest undisposed of, had ac
tfeally been purchased with the common trea
eiliy... money which had been colle ted by ac
tual taxation upon the consumption of the
peofee, and which, it must be admitted had
borne m»st heavily on the people of the old
i States. One would suppose, when we looked
. at tho histoiy of this property, when we saw
from what source it had been derived, ami
with whose labor and money it hud been pur
chased, that it would ho considered sufficiently
generous, in all Conscience, \o allow to the
new members of the Confederacy an equal
participation in this great national partnership
bind, when they did not, as members, bring a
dollar into the concern.
This equality he did not complain of, and
no one complained of it, but it had never been
Considered as sufficient; and, accordingly,
millions upon millions had been lavished upon
them, from time to time, in one form or other.
When wo consider the choice selections they
had been permitted to make; tho twelve or
thirteen millions of acres of laud alone that
had been given to them wore probably worth
ono hundred and fifty millions of dollars, or a
sum nearly double what had ever come into
the Treasury from the entire sales of public
lands since the commencement of the Govern
ment. Well, one would suppose that those
enormous bounties, at the expense of their
lellow-citizens of the old States, would satisfy
the most voracious appetite. But. not so. For
their advantage, solely, the public land had
been put down, and kept down, at one-tonth
ol its value, as compared with lands of equal
quality in the old States of the Union. This
fact had just been admitted by one of the
friends of the bill. The result was precisely
what might have been expected. Tho annals
of lirno furnished no instance, cither parallel
or approximate, of equal rapidity in growth,
wealth, population, and prosperity, to t hat ex
hibited by tho junior members of the Conl’e
deracy. On the other hand, history furnished
few examples, undciTrcc government, of such
premature old age, decrepitude, and decay, as
that which was exhibited by somo of tho old
States of this Union. Cosily dwellings were
seen mouldering in ruins, and plantations that
should still bo valuable were left to wash into
ruts and gullies, and grow up in briers. Sir,
said ho, it is enough to make the heart of any
patriot from one of tho old States bleed to
travel through this favored region, and com
pare its condition with the impoverished home
he has left. But how could it bo otherwise
with this heavy bounty, furnished at the com
mon charge, for the exclusive benefit ot a
small portion of tho States ?
Mr. K. had hoped at least that these mani
fold bounties, and this contrast so melancho
ly, and the truth of which all must acknow
ledge, would have softened tho hearts ami
stayed the hands of those who seemed deter
mined on tho destruction of the old States:
but not so ; they were still unsatisfied. Em
boldened by their own strength, derived from
the munificence of those they despoil, and by
they weakness of the latter, occasioned by
the same cause, and with th ,* aid of a few
unnatural allies, they now boldly come for
ward and claim for their exclusive benefit tho
whole of this immense national fund. Nay,
said he, a groat deal more than this; for he
would infinitely prefer an entire surrender of
the whole of the national domain, ami get rid
of the expense, and these eternal torments and '
importunities, than to sog this bill passed upon i
the People of the old States. If the law
should bo honestly enforced, the proceeds of
the sales would not pay the expenses of our
land machinery; certainly not, if we included
the Indian treaties, Indian wars, and Indian
annunities, which worn all fairly chargeable
to this account. Tims losing tho whole of
this immense prSporty, the old Stales would
ho further burdened with the expense of par
celling it out toothers. If the law should he
evaded the sales would be something larger,
but the profits on speculations would bean ex
clusive bounty to crime, and a premium to in
genious and fraudulent speculation.
And yet we are told, (said Mr. K ) that wo
must go for this measure, because it is an
Administration measure. In its present form
he did not believe it was so. Ho know the
pre-emption clause was not, as all know that
nothing was more übhored by (ho Executive
than that unjust ami odious feature in the
bill. But, (said Mr. K.) however this may
be, do not talk to me of Administration mea
sures while you have got your lingers in my
pockets, or the pockets of my constiluonts.
Take them out, sir, and then wo can holler
reason the matter. Insert some equivocal
provision ; mantle the bill insomc obscurity ;
afford (some temporary refuge for reason,
whilst fancy may ho called to promise some I
distant hope of a possible advantage to the
old States, to compensate hem, to some ex- i
lent, for the enormous sacrifices which you 1
propose to force upon them. Do not, said
ho, insult us with this plain project oftak- I
ing money from the pockets of ono class t
of citizens, and putting it into those of another. I
Sir, (continued Mr. K ) the People of Geor- I
gia, that greatly wronged, much abused, and I
much injured State, yielding to the claims of I
their fellow-citizens of the other States, with i
whom, in a common cause, they had marched }
th ough the perils of the Revolution, goner- i
ousiy surrendered to the United S ates (with |
reservations too insignificant to notice when 1
compared with the value of the whole) two of 1
the finest States in the Union.
This territory, if disposed of to tho best ad- I
vantage, would have freed tho Stale from tux- '
ation to the end of time. Though millions of I
it Had been squandered upon squatters, rclin- f
qaished to speculators by the relief law, and c
otherwise prodigally disposed of, the past and c
future receipts from it would likely be near t
one hundred millions of dollars. And yet the g
People of Georgia, to whom this immense a
property once exclusively belonged, are here- i
after to bo virtually deprived of all participa- t
tiou in it, as a common interest of the Con- g
fcderacy. Her citizens are to ho deprived of t
the poor privilege of buying it at the price u
fixed by the Government, to whom it was s
gratuitously given. The honest planter, with b
a growing family of sons, with prudent fore- t
sight, looking forwaid to tho period when il
your unnatural combinations and legislative f
plunder may render his impoverished State an a
unfit habitation for man, cannot provide for il
them a few sections of land in a more favored r
State, without submitting to ceremonies and c
restrictions, which to an honest man, will ron- 1
derlhe privilege worse than a mockery, lie
must stand by ((said Mr. K.) and sec this c
property tied up by narrow, contracted, partial t
legislation, into a bundle of bribes ami boun- J
ties, calculated and intended to drain the re- 1
sources and consummate the ruin ofthcHtatc I
whose generosity furnished the means of per- 1
petratmg tho injustice. Sir, (said he,) when r
the People of Georgia send me here to plun- j l
der them, and pot to protect them, I may 1
thing of the proposition, but not before. i
What were the reasons urged for this par- I
tial and oppressive measure ? Interest was i
sufficient to address to some party, perhaps to i
others ; but what were the reasons addressed <
to those members from the old States who |
were disposed to stand up for tho rights of i
theirjeonstituents I Why, they were the great '
and threatening evils ot a rebundant Treasu- 1
ry. It, was strange this measure had not been
urged with such zeal for these reasons when
there was some necessity for it. Where was
this surplus now, or from whence « as it to be
derived during the present year 1 Gentlemen
had shown commendable caution in making,
or rather in not making, calculations on tins
subject. No one had descended to the use
of figures but the Senator frotq Mis^ssippi;
I and ho (Mr. K.) thought, contrary (ujii^wotit,
1 upon grave matters, had been a little flighty
' upon this subject. The Senator bad estima
-1 tod a future annual surplus of twenty millions
■ of dollars, and that, without this'measure
• eighty or one hundred millions of acres of the
1 public lands would pass into the binds of
' speculators. And what was the basis of
1 his estimate? Why, ho had taken tho
proceeds of the last year, (about twenty
live millions,) and made them tho basis of bis
estimate for tho next four years. Too Sena
tor night just as well bare anticipated in 1813,
that, because Napoleon Bonaparte invaded
Russia with an offectivearmy of-100,001) fight
ing men, he would ho enabled to make the
same effort annually (or the remainder of his
life. It is certainly (sad Mr. K.) a logical
mode of reasoning, to s»y that what happens
one year may, under the same circumstances,
happen the next; but single instances are
not always followed by thiir lilayuid there are
extraordinary causes operating in finance ami
speculation, ns there arc h war, ami almost
everything else.
What, then, (said Mr. K.) are the proba
ble causes to which wo aw to attribute the
extraordinary results in thosnlus of the pub
lic lands in the year 183(3, and the year pre
ceding? If tho causes arc of a permanent
nature, tho results may bo relied upon as the
basis of future estimates; if they b? only tem
porary, have ceased to exist, or are rapidly
passing away, all reasoning on such promises
is more delusive than demonstrative.
Mr. K. then proceeded to enumerate some i
of these causes. In 1831 it was soukid l hat ■
tho charter of tho Bank of thu United Stales I
would not be renowned. The removal of this i
institution (of which lie did not wisi to ho i
understood as complaining) had encouraged in i
the country hopes of great profits by banking, |
and we had accordingly been inundated with I
an uncontrolled, unregulated flood of paper i
money, issuing from the sluices of tiro him- .
droo now banks, with additional supples from |
the old ones ; and in tho last four ysais the I
currency ot tho country, including specie, ac- 1
cording to the most probable computalion, had |
a little more than doubled. Was tbs a par- i
manent state of things ? Did wo oxeect that i
our currency was to double every four years 1 i
Well (continued Mr. K.) what was lie natu. \
ral consequence of this sudden andexiraor- t
dinary inflation of the currency? It was n t
spirit of speculation ami overtrading, which ,
reached public lands ns well ns private lands, i
and private lots, ami cvc-y species of pfopnrty i
that was a subject of bargain and sale. This i
spirit bad extended to unbroken I’.uu;!.. u:i ,
well as towns, citing, and villages. It cm- i
braced the poor pine lands of Maine, as well i
ns “Jackson city,” on tho Potomac; a city i
which, in the spirit of the times, after the lots i
had been disposed of, was commenced and i
finished in a single day. These wild spccu- i
lotions, extending to every tiling, wore tho i
inevitable consequence of this great rodnu- i
dancy of tho currency, for money was uu- I
like most other commodities in tho extent of I
tho demand for it. There was no certain i
limitation on the demand except that which i
was found in a limitation of the supply. So i
general was tho disposition to make money t
without labor, that men would always bo found t
to adventure in speculation when they could '
procure money with facility.
Mr. K said that this redundancy of tho
currency had, moreover, been sustained by
concurrent causes (somo of them not depen
dent on tho market of this country) for uu un
usual lengtli of limn without a reaction. In
the first place, (said he,) it has so happened
that the increased demand for our principal ;
exports has gradually increased their value
for tho last three or four years. The value
of our exports each year, for that period, has i
been an advance on that of the year priced- i
ing. As a general rule, with tho advantage i
of such progressive increase in the value of ox- i
pollution, it is impossible to create a demand '
for too exportation of specie whilst such in- i
crease continues. Hut, unfortunately, this has ,
not been the only means by which we have I
increased the debits of our foreign account, i
Look at our foreign account lor the year 183(1 j
—one hundred and seventy lour millions ofirn- |
ports, and one hundred and twenty-two mil- |
lions exports; leaving a balance ol fifty-two t
millions against ns, deducting only our per- 1
lion oflho profits of trade. These profits could v
not be safely put down at |more limn twelve n
or fifteen millions, leaving a probable clear t
balance against us of forty millions of dollars. |
And yet (ho said) the exchanges had contiuu- t
ed in ourfavor, indicating a favorable balance, t
Sir, (said ho,) what sort of a balance is this*? t
It is nut a balance on the exchange of valua- a
hie commodities. It is thu deceptive balance v
of the borrower against the lender. If (said t
ho) you lie a man of fortune, ami Ibo vvi hout il
fortune, yet, if I borrow all your money, I will li
have plenty of money, and you will be desli- (i
lute, though the richer man of the two. And
if it be necessary for you to send the money t
yon loan to me from Alabama to Georgia, my k
note, sent to you in exchange for it, produces t
precisely the same effect upon the exchanges (1
between the two Slates as if I had consigned t
to you the value in valuable commodities. t
By just such moans have we indicated a n
(avoralde balance against Europe. Instead t,
of tho produce of industry, we have sent about ti
forty millions in notes, bonds, stocks and
Stale securities, and, the exchange being in v
our favor, we have imported the return in spe- n
cie. So that wc have not only borrowed for- „
ty millions to sustain our currency in the sin- ( j
glc year of 1839, but we have borrowed that e
amount in specie to aid in sustaining a paper g |
issue. What was the result of all this? Why r
tho result of the extravagant speculations f j
growing out of a redundant currency, and ,|
that tedundant currency sustained and kept «,
up by tlie me ins adverted to, had boon a large K
surplus treasure deposited in the deposite
banks. Tho interest of these hanks required ( ]
that they should make the most of the depos- (
ito ; and, to do this, they would naturally pro- (l
for loaning to speculate/:) in the pnhlic lands, ( j
as they were certain of a return oflho depos- 0
ite. To this large deposite Mr. K. thought p (
might be attributed, perhaps, the whole in- H
crease in tho sales m 1830 over the sales in
1835, which increase was about $10,000,000. p
Now, continued Mr. K. these are the prin
cipa! causes, I apprehend of tho extraordinary j,
results in the proceeds of the sales in 1835-0. ( j
Are they permanent? Can their continuance _
be relied on as the basis of future estimates ? j.
If not, these calculations of twenty-six mil- r
lions a year from (his source hereafter arc [j
mere delusions, and cannot safely bn taken as
the basis of important legislation. Let ns p
look, then, at the last cause first; the surplus p
revenue in the deposite banks, amounting to u
forty or fifty millions during 1830, Is now sink- p
ing under the operation of the deposite law, g
and, in the course ol the year, wdl entirely q
disappear. This great cause is then rapidly j,
passing away. Next, ns to the condition of ~
the currency, generally—the pr maty cause j
of speculation. Is it to bo s ‘ainod by cans- (
es heretofore operating? Can it be propped v
up any longer hy borrowing from Europe ? j
On the contrary, we find the resource of hor- t
rowing entirely cut off, and the moneyed in- t
tercets in Europe have taken sk'p* to stop the t
exportation of specie to this country. And, t
such is the state of the niouev market in ,
Europe, that It is likely all stocks sent there |
on pledge will ho returned for redemption, j
and all loans falling due will he pressed for ,
payment. Tho most favorable view of thii
branch of the subject is, that tho principal o
our European loan cannot be mere ’<l, and
even if our whole cwdifeJJii'r-A he i ...inner
us a loan, the in,'ercs:\ .'real'!, feinust *>o ad
ded to tho Milter side of the acchv *.
In the next place, have we any ft,woe of as
sistance Irom an advance in our c\|\- ts ? On
the contrary nil accounts concur in sustaining
tho Secretary of the Treasury in his opinion
thatjn this there will he a very heavy decline.
Wc have then none ot the extraordinary
means of sustaining over-issues which we
have commanded heretofore. Sir, said he, I
am no practical merchant, no practical hank
er, and do not profess to be high authority on
these subjects. Ho wished to create no pan
ics ; and had too little confidence in his own
judgement to make any pustive prophecies.
But if he possessed tho ordinary faculty of
connecting effects with their causes whore
the connexion was obvious,he thought we had
tho farts hi fore us from which wo might rea
sonably apprehend one oflho most tremend.
ons explosions that over afflicted any commer
cial People. It miulit be averted or postponed,
but no prudent ami experienced financier, he
thought, would act on thu presumption that il.
could ho entirely avoided, or even postponed
to a very distant day.
There was another reason, Mr. K. thought,
for a dimisiicd estimate in the sales of tho
public lands ; and thattßurs the very fact upon
which high future estimates had been made.
Ho alluded to the great quantity of land lately
taken up on speculation. Those lands, ho
said, wore doubtless tho host selections, and
nearest to I ho settled purls of tho country, and
the quantity was sufficient to anticipate the
demand for actual settlement, for twelve or (if
toon years. When tho spirit of speculation
had ceased, these hinds must come extensive
ly into competition with the Government, and 1
diminish the Government sales. It was a
groat, mistake to suppose that largo land com
panies of speculators were in the habit of
holding up their lauds at exorbitant and for
bidding prises, t lint, a large and unproductive
property might he sold and settled by posteri
ty. They had, generally, neither the power
nor inclination to do so. They could not ob
tain very large profits whilst tiro Government
was in free competition with land ol equal
quality and at as low prices. Mr. K. men
tioned several instances where investments in
Alabama, in 1880, on speculations, had yield
ml only an interest on the investment, and in
some cases not oven that. He also slated
th it somo of his friends nan gone m M| sa i„.
hia land sales, and had pur
chased the choice selections, from a large
supply held hy a fond company, at a moderate
advance on tho original cost, and had prefer
rod purchasing of those companies to taking
their chances at the sales. Operating upon
a large scale, a small advance per acre affords
a handsome profit, though generally less than
is paid to “ land hunters,” lor selecting and
locating in smaller quantities. As much of
tire money with which lauds have boon pur
chasers had been borrowed, Mr. K. thought
many purchasers, would, from necessity, como
into competition with lire Government at
something like Government prices. But, if
we restrict tho competition of Government,
wc give a monopoly to previous purchasers,
and probably secure to them very heavy spe
culations. Such inconvenient restrictions on
tho Government sales iiiusi make the fortunes
of those who have already invested largely
in tho public lands. However this might he,
Ire said, tho largo quantity in tho hands of in
dividuals.which hud rapidly ueenmul iled thoro
from temporary causes, must come very large
ly into competition with tho Government sales.
Mr, K. also briefly alluded to the probable
independence and settlement of Texas, at no
distant period. If this should occur, there
would he a large tody of tho finest lands in
tho world opened, at fifty cents per acre.
This temptation would carry oft’thousands of
our emigrating population, and rotluco (lie
demand for settlement and cultivation. This,
he said, was a contingency, to be sure ; hut
every argument at all hearing upon tho sub
ject should bo noticed, when there was a pro
position which virtu ft y gave up this immense
property of tho People, as a common proper
ty, and distributed il in bounties and benefits.
Upon the whole, Mr. K. concluded that, when
we examined the causes of (ho extraordinary
amount derived from tho public lands during
the lust two years and that those causes wore
passing away, and presenting considerations
upon Which wo should greatly reduce a fu
ture estimate, tho estimate ol the Hecretafy of
the Treasury was much more probable than
any other by which it had been attacked; il
was the estimate of an experienced and prac
tical financier, and gentlemen could not and
did not attack it by reasoned calculations, hut
nourished over it without the use of a single
figure.
But, (said Air. K.) i ran tell gentlemen, (or
their consolation, that they shall not escape
so easily in this matter. They shall come to
the point, and submit to on examination of
figures ; yes, aiidjlhosepoo, figures of arithme
tic, and not rhetoric. They shall either shut
their eyes, refute or admit, or the only avowed
motive by which they justify their votes lor
this fhierant robbery of the old States shall be
tuk n from them without their consent.
Mr. K. said ho would now proceed to show
what foundation there was for on alarm about
a surplus in 1837, which was the only ground
upon which any member from an old Slate
dare to place Id’s vote to plunder his conalitii
enls. He would first attempt to do so by (bat
•lighted report of the Secretary of tho Treasu
ry, which gentlemen could run over, hut could
not reason down. He would then look at
tho account, as it, would stand, even if the
Secretary was as far mistaken as gentlemen
supposed.
What then, (continued he,) according to
this estimate, will bo tho cash resources of the
Government for tho year 18.37 ? The Secre
tary estimates them at twonty-nino millions ;
that is, live millions retained in the Treasury
of unexpended appropriations, and twenty
four millions as the rcce pis of the year. From
what source is tins twenty-four millions’of in
come to bo derived ? Let us examine each
item, and sec how far tho estimate can bo at
tacked in detail. The first item is for cus
toms, sixteen million live hundred thousand
dollars. Was that too low? Tho customs
produced more last year; but last year the
importations had been swelled by tempora
ry causes, such as the great destruction
by the New York fire, a spirit of specula
tion, &.e., cand could not be relied on as the
basis of future estimates. The estimate made
by tho Secretary might be a little too high or
too low. It wa .« mure than we derived from
the customs in 1831, when the duties were high
er than they will he in 1837 ; and no practical
financier at the head of the Department would
have considered it, safe to calculate on ii grea
ser revenue from this source. This item,
however, had not been attacked, and rn ghl
therefore stand admitted. Tim next item
was two million dollars from the stock of the
Bank of the United States : nobody had ques
tioned this item; wo might get more than
this from the hank in 1837, hut ot tho ,ame'
time we might not get, a cent. At any rate,
this was not a permanent source of income ;
it was a part of our capital. That item not
being disputed, time need not ha wasted upon
it. Tho next, item was live hundred thou
sand dollars for interest and other email mat-1
is sere, about which there could be little mistake
of Tne next item was that of tho public lands
il five million dollars, r.-hich was tho principa
•d subject attack. On that item, in addition
i- to wh it he had said, he would only here re
mark that il was marc than the public lanth
i- had ever brought into the Treasury in one
u year, except in the years 1835 and 1830.
g And il the causes of tljo extraordinary results
n in these two years had been shown to be of a
;. temporary character, no higher estimate could
y have been safely relied on.
c Thu account then stands thus :
1 From customs $16,600,000
. Bank stock 2,000,000
U hit. on money horn deposits hanks, Ac. 500,000
. Sales of public lands 5,000,000
il
24,000,000
C Reserved in the Treasury of unex
g pended appropriations 5,000,000
i :
§29,000,000
This is the sum, then, to answer tho
calls of the Government in 1837.
- What arc the charges upon it lln
’ the first place, in round numbers,
' the appropriations, new, transfer
“ red, and permanent, for 1837, ns
1 estimated, are 20,000,000
Unexpended nppropria
i lions 14,000,000
1 40,000,000
r Leaving us indebted to appropria
. lions at tho end of the your 1837 §11,000,009
' It will bo seen from this that even if there ro
| main unexpended appropriations in the Treasury
‘ at lire end of 1837, to tho amount of §14,000,000
I that is, a sum as large as remained at the end of
i 1836, (a very improbable event,) (hen wc shall
have only §3,000,000 in money to answer the
i demand, and will owe still §11,900,000 more
than wo have money in the Treasury to pay.—
But if there should remain in the Treasury at
, the end of 1837 a much smaller sum, say only
§9,000,000, (a result much more probable,) why,
’ then, wo should have to cull on tho Slates for
§2,000,000, and would still owe §9,000,000 to
appropriations besides.
The above (Mr. K. said) would he lire proba
ble state of the account, provided the estimates
ol tho Secretary were correct, as well in appro
priations ns receipts. Should wo then appropri
ate what was asked by the Government? He
saw no disposition to vote less, and particularly
hy those most in favor of this bill; end on this
subject ho would only farther remark, that for
runny years past Congress had uniformly appro
priated from two to four millions more than was
asked hy the Government, and the last year wc
nan liig'vonrlatcd jlinuljou iui11i....0
Hut it was said tiro Secretary was in error in
his estimates of tiro proccccda of the public lands.
Very well, let us view the matter with that ad
mission. How much was ho wrong ? It seem
ed to boa private sentiment with somo, that, ns
the deposites would not be removed entirely till
the end of 1837, and money might bo made more
plenty in tho Slates by distribution, the specula
tions might continue sufficient, during 1837, to
’ bring into (ho Treasury (on millions, (there was
somo reason in this,) end for such, gentlemen,
wo would (nit down ton millions and say the Sec
retary has erred livo millions. What then 1
Why, wo would still owe six millions at the end
• of 1837. Did any one, except the Senator irom
Mississippi, nsk more than this? If so, give
1 them fifteen millions, and wo still owe one mil
-1 lion to appropriations; and oven carry the amount
| to twenty millions, a sum to which it could only
bo carried by a race of thn imagination, and wc
1 should, even thou, only have four millions in the
' Treasury unappropriated. This was a sum with
> which we should never ho discontented, and to
get rid of which he would never adopt any extra
■ ordinary measure. It was a sum wo hail often
■ had in our Treasury, and which was calculated to
■ do no injury or create any alarm.
Tho only object, thou, which members from
1 tho old States would avow to justify this outrage
upon their constituents, was entirely swept from
under them hy mathematical demonstration. If
there were any error in this calculation, lot gen
tlemen show it. There was no danger, however,
that gentlemen would even attempt this; for, ex
cept hy general assertions and sweeping esti
mates, it was a branch of tho subject they seemed
anxious to smother. In the very sweeping glance
of tho only Senator, who had touched it, ho took
scarcely a notice of expenditures, nor did Ire
oven notice that wo owe fourteen millions to un
expended appropriations. Tho truth was, he
said, that the hill was supported hy a strange and
unnatural combination. Supposed interest was
sufficient for some; tiro influence operating on
others lie would not name, and perhaps did not
know, and others were actuated hy motives they
did not think proper to avow. Ho said it could
not he disguised, and ought not to be denied, that
the only object of our influence exerted in favor
of this hill was to draw hack tire money deposited
with tho Slates, and indirectly defeat tiro depos
ite hill. That this must he the effect of tho meas
ure was inevitable, unless the expenses of the
Government could be greatly reduced, which no
ono has suggested was immediately practicable.
And wiry this persevering opposition and untiring
antipathy to the deposite hill? No one regretted
the necessity for that 101 l more than he did at the
time, and uu ono who had voted against tho bill
was more opposed to raising money for distribu
tion, or to a policy of distribution. Butthis was
an extioordinary measure to meet an extraordina
ry emergency. Wo found thirty or forty mill
ions in the Treasury more than was required for
the purposes of Government. The question was
not so much how it was raised, as what should
he done with ft. If it had been improperly raised,
licit was no reason why it should he improperly
wasted, or disposed of in a manner to produce tho
greatest evils. To continue this amount in the
deposite hanks, was acknowledged, even hy the
opponents of the hill, to he altogether intolerable ;
the President himself hail acknowledged this, and
and yet the opponents of the kill, though full of
objections, had no plan except to allow the mo
ney to remain in the deposite hanks, where they
acknowledged it was ruining the currency, and
would ruin the country.
Tho Senator from Missouri (Mr. Benton) had
a plan, to be sure, and that was to raise the ex
penditures of the Government, and expend the
surplus in fortifications, armories, arsenals, Ac.—
The great objection to this plan was, that in ex
pending the surplus, merely to get rid of it, we
would have laid tho foundation of a permanent
expenditure, inconsistent with tho economical
habits of nur people, and with tho simplicity of
our republican instilnlions. Tho tariff would
have been j’aised in a few years, instead of re
duced, and the burdens of the People unnecessa
rily increased, to keep up a scale of expenditure
established by a prodigal expenditure of the sur
plus, For you might as well undertake (said he)
to reduce the natural stature of man without the
use of violence, as to undertake to reduce tho ex
penditures of a Government after they are once
fixed. England had fried that. In vain have
the retrenching members of her reformed Parlia
ment, in their patriotic efforts, appealed to the ex
penditures of 1797, (thought then to he an ex
travagant period) and showed that tho present
expenditure is, in some instances, near three times
as much for the same service. Each branch of
the service Ins influence or tact enough to pre
serve itself from encroachment; and every ex
pense is made to appear necessary, because it lias
become habitual. He was sorry to say that the
increase in the expenditures of some branches of
our own service taught a similar lesson. These
(Mr. K. said) were the objections to the useless
expenditure of the surplus by the General Gov
ernment. Tho expenditure of the surplus would
only have been the beginning, the end would
have been a heavy permanent expenditure.
Again, this plan of extravagant expenditure
was no remedy for the evil. The labor could not
have been commanded, or the work performed,
! with any regard to durability or economy, with
p - sufficient rapidity to hare made any effectual Im
s. pression on the surplus for several years ; and
a! this plan would have been just equivalent to cW
iii mg the dopijii.te banks a warrant lo -%cep it f ()C
?• l,irse or ffiat years ; for ihc revenue would have
Is accrued nearly as fast as expended. It would b*
ie perceived that fourteen millions remained un
; expended, though wc appropriated last year
a thirty-four or thirty-five millions. If we had op
n preprinted sixty-four or sixty-five millions, as we
J were asked to do, the unexpended appropriationa
would have been double,
I his plan, then, was neither acceptable nor es
) factual, and no other plan seemed so effctcual
j and so just as the plan that waa adopted. Thi*
0 "joncy was in the Treasury; it belonged to the
) I copie, and was not needed for the public ser
_ vice, and could not bo permitted to remain on de
j postlc without great and acknowledged evils. To
give Ihc People the tine ot it, with some regard lo
j equality, until needed for some really national
_ purpose, was certainly the most just to the Pco
} pie, whilst it waa most effectual in avoiding tho
evils complained •£ Not the fcsjt evil of leav
ing this immense surplus on depositc would have
been to make it a subject of continual scramble
ler partial and useless appropriations, in which
the least scrnpnloiis would have succeeded best.
Mr. K. repeated that this surplus rightly belong
cd to the People of the Htatcs. who should be
permitted to retain it until wanted for the real
purposes of the Government; and no necessity
) s kould he created by a measure of injustice to
. callback this money. The money had been rais
-1 nc * lj y ‘l' 6 unexpected and unprecedented sales of
the public land, and had not, properly spcaking P
• been raised by taxation upon the People.
' [ Concluded on Ihc second page.]
COMMEftCIiI!! 1
BALTIMORE MARKET—Fib. 21. "
quote the store price of Howard street
Hour at *6lo,7o—ra'ca very limited and market dull.
1 lie w agon price ranges from ¥10,25 to 8)0,00. A
side o( 1500 bids, slandurd at $10,25 full.
Grain A parcel of 4000 bushels prime white
German Wheat was sold to-day at 82,22 per bushel,
and another parcel of .1.500 busltsls of same descrip,
inm on terms not transpired. Some parcels of lb
natyi red Wheat an* iu market to*day, but not yet
Haviik Market, Jan. 3.
Our ( otton market continues languid -There
has however, been more business done to-day, but at
prices a shade less than our quotations of tho list
Very little now Gotten lias been sold.
Salrr yrslcrdai/ —IOO bales 1,011181000, 132 f. 50 m
It'd', II Georgia, 1321 50j 28 Virginia, 132152.
Sales Hi .v day— 33o bales Georgia, 122 f.
. ----- nin r i->mt Miii iiu taigjiti-^i»iri4
marine Intelligence.
Steamer Oglethorpe, Kirkpatrick, Savannah, Sl>
hours. Merchandize, ate —tuJ & W Harper, agents,
and others.
Steamer Richmond, Fraser, Savannah. Mdzu.,
&c—to W M Rowland, agent, and oilier*.
DEPARTED.
Steamer John Randolph, Lynn, .Suvannuli, with
boats .Nos H and 13. till! bales cotton.
Savannah, Feb. S3.—Arc ship Howard, Morrill, *
Havre; schrs Medium, Major, Charleston; sloep
Stranger, Kendrick, Havana.
CTd brig Nina, Alexander, Honduras Bay.
Cuaßi.ibton, Feb. 21,—The steam pnrket Etti
wan, Snssard, for Savannah, via Beaufort, anil
steamer liberty, Wells, for Hamburg and Augusta,
via Savannah, started yesterday morning.
New York, Feb. 21 —CTd,ship Southerner, Tib
bits, Charleston.
CTd yesterday, brig Jones, Herbert, Ssvntmnh.
Arr yesterday, brig Atlantic, Godfrey, 13 day*
From Charleston
I. I■ I —».l, . 1... Ml, —— !I . I I ■■■... JM
City Shi'rilf*’* «nlc.
ON the fir.t Tuesday in April next, at the lovrot
Market, in the city of Augusta, within the u
snal sale hours, w ill bo sold a lot oflnnd, in said city,
bounded Host by Mrs. Bacon's lot, South by Green
struct, Weal by Ilenry Keener's lot, and on the north
by lot formerly J. C. Griffin's—containing in front,
on Green street, seventy nine feet, more or less, by
one hundred and thirty- one feet,six inches in depth;
levied on ns tho property of David Augblry, to satis
fy n (1. lit. from tho Court of Common Pleas of the
eitv of Augusta, in favor of Sarah Hanley, vs. said
Anghlry. Terms cash, purchaser paving for lilies.
Feb 25 40 wtd EHVIAKTIN,*. c.a
B.iucolu Sheriff”* Salc^
VX7 ILL be sold, on the first*Tuesday in April
* 9 next, within the legal hours of sale, 8011
acres of Land more or less, on the waters of Fishing
Crook, occupied nt present by Mrs. Elizabeth If.
Moss, Airs. Francis Cliunault, John 1! Me!,can,*ml
John Moss ; to satisfy a fi. in. issued from the .Su
perior Court of Lincoln county, in favor of Robert
S. Sayre vs. la-w is R. Reman, principal, am) Alex
ander Muss security; property pointed out by Alex
ander Muss.
FRANCIS F. FLEMING,S. LO.
Feb. 25 go
Administrator’* Notice.
Sa'di! R months niter date application will bo
mndo to the Inferior Court of Burke County,
when silting for ordinary pnrp isos, for leovo to tell
the Negroes belonging to Charles Cavonali, late of
mi id county, deceased.
M. WIGGINS, Admr,
Waynesboro, Feb 25. 1837 4G
Adiiaim*trator’* Notice.
IjMHI R months alter dale, application will bo
made to the Honorable tho luiorior Court of
Striven county, while silting fur Ordinary parjxi
ses, for leave to si II all the lannis belonging lo tho
estate of William W. Oliver, d>ceased.
JAMES il. MOBLEY, Adm’r.
Feb. 25 4fi__
75 Hollars Ucnard.
„ RUNAWAY from tho Subscriber
y/ on Sunday, the I2tli instant, a negro
AjtVm man named WlLEY,about 21 year* •
WjKuJ of age, six feot high, dark eomplcx-
GJOB ion, quick spoken, and quite bow
legged. Il is supposed that he has
been stolen by a man by the name
—•mSSBHB of Solomon Milllrons, who was
lurking uiiout the see.lion of country in wbieh I live,
nl the (tie time of Iho negro's absence. Tins mao
Millii'onn is a largo built man, perhaps six feet high
and probably w eighs 2110 pounds ;—his skin is quilo
dark or rather very sallow llr a while man—his hair
black.
Any person who will apprehend the said negro
and lodge him in some sate jail shall lie entitled to
a reward of twenty-five dollars; if delivered at my
house in Bibb county, nftcon miles bevond Macon,
Geo. in the direction of Knoxville, Crawford coun
ty, shall have fifiy dollars reward; and a fuilhei re
ward of twenty-live dollars will be given for the
apprehension of tho w hite man and his confinement
in any jail.
fob 23 3i w JOSIAII DICKSON.
Tlie Richmond Whig, Columbia Telescope, and
Knoxville Tenn. Register, will insert the above
three limes, and send their accounts to this office.
Indian Spring*.
r 1 ho Mibscriber has purohased tho
Holdings formerly occupied by Mr.
CfL TS-I ••■ US Erwin and others, and is now pnt
ting them in the best order fur the
reception of company. The prem
ises are very convenient to the springs, and by the ,
attention the subscriber will bestow! on his
ers, he hopes to merit and receive lire
all who have heretofore
mont. The virtues ol the mineral water, areloo well
known to need any recommendation He expscls
to he able lo ncroimnodute Irom one hundred lo one
hundred ami filly persona. Every arrangement will
ho made for tho amusement and rrer-alien ot the la*
dies.
His stables are put in good order, and w ill bo well
attended. MORRIS MATHEWS.
1 eh 5 wJOw 3fi
Tho Savannah Georgian will publish the above
weekly ten weeks. ;
IJkfnT GULF COTTON SEED.- 249. tacks
9 Genuine I’olit Gulf COTTON SF.ED, coretul
lv sell c-ed expressly tor this Market. Jtut raceivid
from New Orleans and Far sale by
RATH BON F. * RAKER.
■Tnn 27 22 ll
j%! OTICE. All persons indebted to tho estate of
is! Winnifred Dunn, dec. of Columbia county, are
requested to m;ike immediate payment; apd/lhns*
having claims will present them duly attsstedt#
the time proscribed bv I" w.
WILLIAM 8. DUNN. Ex>.
Jan >**iw
rVrl