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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