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holders get the gold and silver; and such has been the fact, and you know it, that instead of a sound currency, necessity has compelled persons to issue shin-plasters, and you to receive them and glad to get them, notwithstanding it is a violation ol law. He promised retrenchment and an economical administration of the govern ment, and you have witnessed extravagance and the creation of a public debt, which he says will take five millions of dollars in Treasury notes to pay. He promised a sound currency, and prosperity as the re suk, and you have witnessed an entirede. rangeinent of our currency, commerce se. riously affected, our credit sunk, the peo ple in debt, the price of produce prostrated, the value of property reduced one-hull'and still going down—the banks with a few ex ceptions, turned brokers, and you placed in the power of a few moneyed men, with out the means to extricate yourselves. You already hear the sheriff and bailiff crying 0 yes ! 0 yes! Fellow-citizens, poor men, was it so before ? If not, it is evi dent the unwise course of the present Ad ministration has been the first cause ; and if a few years has produced such a change, what will four more do ? I will tell you —pass two-thirds of your real estates un der the Sheriff’s hammer, and into the hands of a few moneyed men, who will soon discover that a white tenant will be cheaper and more profitable to them than a black servant, and will follow the exam ple of their northern brethren, send them to Texas, or some other country, and in crease their capital, and you and your children will become hewers of wood and drawers of water to a few rich men and their haughty descendants—and I have no doubt but those northern members that heretofore voted in favor of the abolition petitions, but turned this session and voted against them, saw this, and therefore changed their course, and have, like Mar tin Van Buren, become Northern men with Southern principles. Poor men of Georgia, one of your brethren now ad dresses you and entreats you to recollect that on the first Monday in November you will hold the power in your own hands.— You are, therefore, in making up your mind, either forging the chain to bind you and your posterity, or nerving your arm to burst it asunder. I pray you, then, in the name of all that is sacred and dear to you, to rouse from your slumbers; break the spell ; and let your united voice be as the sound of many waters, saying to old Tippecanoe, in the language of the Ro mans, leave your plough, and come to the helm of our beloved government; and may lie who rides upon the stormy cloud, and manages the seas, grant you good speed, is the sincere prayer of # William Moseley. Henry co., June Oth, 1840. THE SUB TREASURY ACT. The following views in regard to the practical effects of the Sub-Treasury Act, are published by the New York Express ; We have refrained from making any remarks on the Sub-Treasury until the same appeared in official shape. We have now published it, and read it with care —we find it much stronger and more objectionable than we had previously sup posed. The principal provision of the bill gives the appointment of the officers exclusively to the President, by and with the consent of the Sennte. They are to be appointed for seven years—unless sooner removed. They are to give such security as the Treasury thinks sufficient. The Se cretary of the Treasury has the power to draw all monies from one place to another, at his will and pleasure. In fact, the whole revenues of the country are under the con trol of the President or his Secretary. If there are 30,000,000, or any other sum, lying at New York, it can be ordered at an hour’s notice to Charleston, Boston, New Orleans, or any other point; it may be shifted from day to day, to suit the whim or caprice of the Secretary. So long as the Government are in debt, and have no money on hand, the country can not feel any serious effects ; but should it be a season of prosperity, and the Govern ment be possessed of 30 or 40,00§,000, it would unquestionably break any bank, or a large portion of them. Fortunately the receipts into the Treasury by this law are to be paid— After the 30th of June, 1840, one-quar ter in specie, three-quarters in specie bills. After the 30th of June, 1841, one-half in specie, one-half in specie bills. After the 30th of June, 1842, three quarters in specie, one-quarter in specie bills. After the 30th of June, 1843, all specie. This coming year, the payments, it will be seen, from land, customs, and any thing else, are to be three-fourths specie bills. The operation of the law will not be felt till June, 1843, although next year, and the year after, it will be nearly so. If after 1843, the Government should be rich, there is nothing to prevent them ac cumulating and hoarding up all, or nearly all the specie of the country. The credit system must inevitably ccyne to an end. Banks would be called on >r every dollar they possess, and in turn, would be com pelled to call in every debt they have out. It is impossible to predict what the opera tions of the law will be, bujt to our feeble judgment, it must be most faSal to the co t/- mercial and mercantile concerns of the community. SYNOPSIS OF THE SPEECH OF JULIUS C. ALFORD, AGAINST TIIE SUB-TREASURY BILL, Delivered in tlic House of Representa tives, June, 1840. Mr. Cooper, of Georgia, obtained the floor, and remarked, that he had postpon ed the speech heintended to make in favor of the bill, in hope that someone of his colleagues, opposed to the measure, would have preceded him in thedebate. Mr. Al ford said, if my colleague will yield the floor, I will oblige him. Mr. Cooper gave way, and Mr. A LI'ORD said : Mr. Chairman: I am opposed to the Sub- Treasury scheme, and have been from the time it was first recommended by Mr. Van Buren to Congress. Upon this question 1 differ with three of my colleagues, the two who have addressed the Committee, [Messrs Black and Colquitt,] and my friend who has so kindly allowed me to go before him in this debate, [Mr. Cooper.] Before I enter upon the merits of the bill, I will say a word in reply to my colleagues, who have labored to “define” their new “ position.” My colleagues who have addressed the Committee admit, in this debate, that they are now supporting Mr. Van Buren, be cause lie is a Sub-Treasury President. When they were elected by the State Rights Party of Georgia, he was then, as he now is, an advocate ol this scheme, and they knew it; at that time they were op posed to Mr. Van Buren. They allege that this measure is the sole cause of their adhesion to the party, and that it is justly considered by themselves the true test of their political faith. It would look better if they had said so, before the election, to the people of Georgia, and not come into Congress the friends of the scheme, and the enemies of the President, and now avow themselves the friends of both. They al lege that they have been “proscribed” by the Stale Rights party, on account of this measure. I answer, not so. The people elected them with a full knowledge of their friendship for this system of fi nance ; in fact, we agreed that a difference of opinion on this question should not se parate us as a party. Accordingly the people elected us; we came here—six of us “ are as we were you are in a new “ position ” easily “defined.” You are T un Burenised in full ; gone over, “horse foot and dragoons.” You have not been “proscribed” because you supported the measure. No such thing. You are re jected, because you support the man —the head of the party. You, gentlemen, place what you are pleased to call a defence on a false-issue. You allege that you are “proscribed” for your devotion to principle. Mot so. The action of the people is founded upon the opinion, that you have deserted them, and gone over to Van Buren ; and that is the true issue. The people of the State Rights party have rejected you, because they be lieve you have joined the side of power , at a time that every patriot should be true to th epeople. You “appeal” from their de cision—that is, from your friends to your enemies; or, in other words, from your old friends to your new ones.—These re marks are made “ more in sorrow than in anger,” but they are necessary,after what you have said in your assumed “ defence.” They are necessary in behalf of the peo ple, whom you charge with “ proscrip tion,” and are necessary to a proper un derstanding of our separation here, politi cally 1 mean, lor I desiro our personal re lalions should remain friendly as they were in by gone days. We marched in the same column—we fought in the same ranks—we conquered in the same glorious cause, and triumphed over a common ene my; but now, alas! when we should do battle again in the same cause, against the same enemy, you are found in his camp. I deplore the separation, but I cannot give up the contest. If I fall, I fall with my friends: that will he glory enough. If vou are triumphant, you rise with your ene mies, and that would dishonor you ; but whether you rise or fall, the great moral effect will be the same: that man who gains power or distinction by a desertion of his friends will sink at last, and die “unhonored and unsung.” Mr. Chairman, I am now done with my colleagues, and their “ defence.” I can not answer all they have said—time would fail. They have said much and written more. They/eel, no doubt, the necessity ofprorr.pt “defence.” They are satisfied, l hope, after making a speech apiece, and answering every newspaper squib with a pafnphlet. This act, for the collection , safe keep ings transfer, and disbursement of the public revenue, is in itself sufficiently ex plicit of its pretended character, and would stem to indicate some necessity for its pas sage. To me the whole scheme appears deceptive ; and I believe, instead of what it purports to be, it is in truth and fact, a bill to confirm and legalize the usurpations of Gen. Jackson, in the person of Mr, Van Buren and his successors. It is a bill to give the President the supreme control of the people’s purse. In opposition to the whole bill, I laydown the proposition, that there is not now, nor ever has been, any necessity for such an act; or, in other words, that the existing laws are sufficient, if executed by able and honest agents, to collect, keep, transfer, and disburse the public revenue. Under the act of 1789, and its various amendments, we have a system of finance almost perfect; and no instance of a fai lure in its operations has occurred, to my knowledge, on account of the law, but in every instance the defalcations have been strictly personal. The low is good enough ; the fault is in those who administer it. We have a Treasury Department by law ; we have a Secretary of the Treasury by law ; we have Collectors; we have Auditors and clerks, and officers enough, God knows, all authorized by law ; and we have a building large enough and strong enough to hold all the gold and silver in America. What else do we need 1 No thing but honest agents; men, capable and honest, and willing to do their duty. Mv colleague [Mr. Colquitt] asked em phatically, in his speech the other day, what is the remedy proposed by those who oppose this bill? He said, we had none. I have one of my own. 1 have not con sulted any body. I have kept it to myself for this moment. I meet his interroga tory. ! answer it. My scheme is short, good, effectual, and all will agree it would do the work. Let alone the Banks and Sub-Treasury, and turn out ofoffice every rogue in the Government, and appoint ho nest men in their stead. In this debate, now of six weeks’ dura tion, not a speaker that I have heard has noticed the fact that we have existing laws on this subject at nil. This confusion comes out of theconflict of parties, and this unholy and unnecessary war upon the currency. It began with General Jack son and the Bank of the United States—it arose out of no necessity of a change of the deposites—it had its origin in political warfare. The Bank would not support the General, and he went to war. He waged an exterminating warfare against the Bank—he killed it off—he dug it up, and killed it over again—and ever since the death of the Bank, the party have been making capital out of an unjust war against a dead enemy. Every little Loco foco-Morus-Multicaulis-Van-Buren dema gogue digs up the bones of the monster, and pops off his blow-gun at the dead en emy ; then throws up his cap, and shouts for the Sub-Treasury. Next came the pet bank system, which, in the hands of a tyrant master, fell at the fire. There was no fair trial of this system. We cannot tell, from the experiment, whether it would do or not. They were used by the Go vernment to help to kill the United States Bank, and were then thrust aside as useless allies, and are now denounced and abused by the party, ns rotten, insolent, dishonest, and dangerous monopolies. All I can say is, they are the wofk of the party. Mr. Chairman, the history of this war upon the currency is curious enough—it was all passion, no reason. As soon as General Jackson became angry with the State Banks, he swore he would have no more to .do with Banks of any sort, and forthwith issued the famous Specie Circu lar, which was in itself the forerunner of this bill of abominations, and in its practi cal effect demonstrated a miniature picture of what is to be the wide-spread ruin of this last experiment upon the currency— for truly, sir, the people cannot bear an other. They are exhausted by the war on Banks, the Specie Circular, and the anti cipated operations of the Sub-Treasury. The divorce of Government and banks began to be felt with all its force on the issuing of the Specie Circular. It was issued just about the time the western lands came into market. The rich office holders hastened to the West with great quantities of gold and silver, ready to meet the sales. The home of many a poor man was brought into market, and he had pre pared himself with bills, that passed a week before for land, to buy his own im provements—but ihedav ofsale came, and with it came the Specie Circular—his money wou'd not buy his home, the spe culator bought it over his head, and turned him out with his wife and children into the forest, homeless and houseless. This was one of the first acts of this ruinous device of one currency for the Government, and none for the people. Mr. Chairman, I have spoken of this bill —of what it purports to be. I have said I believed there was no necessity for such a law, and stated (acts, in relation to exist ing laws organizing the Treasury Depart ment, showing the truth of that position. It has never been disproved—it cannot be. j The condition of the finances, before they were tampered with, and their condition now, is proof enough. Why, then, are we still urged to adopt this bdious scheme? to make this fearful experiment ? Is it not because it is to be an engine of political power in the hands of the President ? Look at the nature and character of the whole plan—then contemplate its fearful conse quences. First its fine and costly buildings, next its strong boxes—these to bo located at almost every strong point in the Union —then comes its innumerable offices— all to be filled by the President with parti san slaves, removable m his will—collec- tors, receivers, keepers, messengers, turn keys, rogues and runaways, Swartwouts, &c. Then there must be money raised, to be collected, safely kept, transferred, and stolen. Froin'n knowledge of the fact that more money would be needed to do all this than the people would allow, and the fear that the bill would be defeated if the truth was made known, you have r,ot specified the amount, but have appropria ted the people’s money without limitation as to the sum. You dare not do it. You make a great splutter about your ways and means. There are more ways than means —all ways and no means, and mean ways at that—no offence to the Committee—l only mean it is extremely deceitful to make such a parade about your money, when you have not a dollar. You intend to get money honestly if you cun ; but you intend to have it any way. Mr. Chairman, I have said we should contemplate the fearful effects of the prac tical operation of this measure upon the people of this country. I may add, upon their Government, as well as their interest. Let us, in some measure, judge of the fu ture by the past. The anticipated opera tion of the Sub-Treasury has already crip pled your commerce, impoverished your merchants, reduced the price of produce, as well as labor, and brought infinite dis tress upon the country. Compare our con dition now with what it was when the ad ministration came into power. livery honest,candid man admits we are infinite ly more pppressed now than we were at that time. I mean the people—l am one of them. It is true, these lordly office holders sav they can see no distress. They feel none, I dare say—they have high wa ges, paid in gold and silver, and connot see because they will not —they look over the heads of the people—they fix their sights too high—lower your sights, gentlemen. Go with mo to see the people. I will show you an alarming condition of things, ifyou will open your eyes, all mainly growing out of this thrice-rejected system. I will show you the judgments, executions, and sheriffs’sales, now in full play all over the country. I will point out to you the hus band leading his wife, followed by her weeping children, to the place of sale, all carrying the last bed, or horse, or cow, to be sold to pay a debt contracted before you made war on the banks and currency, and which would have been easily paid but for your golden humbug. Mr. Chairman, I mentioned the effect on the people by your action on the banks. Your measures have been directed mainly against the banks, and have been so harsh and tyrannical, that they are all virtually closed. Whatever may be said against the banks, they are the only places where the people can get money to pay their debts, and every effort you make to ruin them tells upon the people. 7'he banks furnish the only medium of circulation, and have all the gold and silver. Your oppressions constrain them to curtail their discounts and call in their debts, at this time of gen eral distress—the effect is ruinous, abso lutely ruinous. Whether the banks were proper or not in the beginning, they are now a part and parcel of our system, and the means used to destroy them operate on the whole community. The people own the banks, and the people owe the hanks. Their relations to each other are mutual, and war upon one injures the other. I have been accused of being more friendly to the banks than formerly. 1 confess it. I resisted their creation ; but they were made, and have now become so blended with every order of society, in their inter est and transactions, that no patriot can refuse to sustain them, as long as they conduct their business honestly. I am a disinterested witness. Ido not own a dol lar of their stock. Ido not owe them one cent. I speak of facts as they are, and tell the plain truth. Let me sav one word to you who now war against all banks to the knife, and the knife to the hilt—you may produce revulsion and revolution, but, short of that, you cannot change the order of society. I desire to say one word to my colleague (Mr. Cooper) on the subject of banks.— May I ask him, what is the difference in principle, of supporting banks and owning them? Or, in other words, how can he consistently oppose all banks with such vehemence, and still be the owner of one himself? Is it right, in principle or moral ity, to oppose a bank whose interest is reg ulated by law at six per cent, and still be the owner of a bank authorized by law to take the highest rate of interest it can get. The one is. regulated by law; the other has no hounds but what are set by avarice and necessity. 1 am happy to see my colleague in such good company. Our Senator (-M r. Lump kin) whispers him closely. Mow softly he talks to my friend. How these gentle men do nurse their infant Democrats. — Well, well! this looks strange to me. And but the other day, when my colleague (Mr. Colquitt) was about to speak to this question, 1 saw the old gentlemen talking softly in his ear. Heavens! how these old folks do nurse their baby Democrats. It must he painful to memory. Mr. Chairman, I now approach the last branch of this debate, and by far the most important. I will say a word on the effect of this measure upon the Government of the country .an,l the liberty of the people. What it has done is easily understood; what it will do cannot be comprehended or fore told in all its. direful effects. The Presi dent of the United States began this sys. tern by seizing upon the purse of the peo pie, in violation of law. He usurped the power of Congress, and daimed it for him self. He removed the deposited. He wrested the power of legislation from the representatives ofthe people,and exercised it himself in a tyrannical and unlawlhi manner. He displaced art honest officer, and appointed one subservient to his ambi tion- And his successor, who promises to tread in his footsteps, is now asking us to confirm in his hands the power thus ob tained by usurpation and aggression : or, in other words, to give him tiie purse and the sword. He desires to wear the uniform of Andrew Jackson, and control the peo ple’s treasury. Me will look odd—a mock tyrant —a Kinderhonk hero—a monkey treading in the footsteps of a giant. The uniform will not fit ; the character will not suit ; hut still the injury will he the same. All power is concentrated in this head of the nation. This measure will soon become a law ; and the President has the sword and the * purse. All he lacks is an army, to kill those he cannot buy ; and he now boldly demands a standing army of two hundred thousand men. Give him that, also, as you will at last, I fear, and in his person is concentrated all the powers of this na tion, which rightfully belong to her peo ple ; and he is emphatically a monarch, and under his reign we shall be slaves, if he should be re-elected. The peoplG are im poverished ; they groan under a mountain weight of debt. Commerce does not afford a revenue. The Chairman of the Commit tee of Ways and Means dare not tell the amount of our revenue; it is almost noth ing. We are actually receiving compara tively nothing from duties on imports, not withstanding we have a tariff” of duties now much too high. What is the cause of this poverty ? Your Sub-Treasury, your golden dreams, your iron times, your hard money currency, have killed com merce, broken the merchant, ruined the planter, and turned the mechanic out of employment. All this has come already from the anticipated operation of this ac cursed experiment. One more measure will result from this scheme —direct taxes. Your coffers must be filled. You had as well appoint your assessors and collectors of taxes at once, and go and demand gold and silver of the people to glut your avarice. Georgia has no strong box provided for our State.— We must’pay our taxes into Mr. Calhoun’s department, and thus be made tributary to South Carolina. There is no justice, equal ity, honesty, or benefit, in the whole de. vice. It is an engine of powet and oppres sion. A great political inquisition, to crush the people and the laws. Whentbe power of this corrupt Administration moves the lever and turns the screw, the body politic will be broken on the wheel,, and the life’s blood of this nation will flow un der its tortures. Let us wake up to our danger in time to defeat the election of the chief and author of this fatal device. Let us defeat him, and break the succession, or we shall be enslaved to others more vicious & tyrannical than he is himself. We can uchieve it, if we will. We huve the means in our own hands. The privilege of voting js still allowed us. Let us elect William Hen-rs Harrison, and all will be right again ; this scheme to ruin us will be dis solved, confidence will be restored, and peace, good order, and prosperity, will re turn to our borders. VAN BUREN’S UNIFORM HOSTI LITY TO SLAVERY. , It is not a little singular that Mr. Van Buren should have indicated a fondness for the abolition principles, in every vote he ever gave, and in every act he ever per formed during his public life, which had the least reference to slavery. And among the anti-slavery acts of Mr. Van Buren, there is one which deserves a prominent place upon the record, and which seems to have entirely escaped the observation of Southern men. We allude to his obstin ate refusal to open any negociation with the Texian authorities, on the subject of admitting that republic into the American confederacy. Application after applica tion was made to Mr. Van Buren by the ’ Texian Government, to open negociaijons preparatory to the of that coun try into the Union. The negro witness candidate, however, coldly and sternly re fused to accede to any proposal on the subject. Does any person doubt that Van Buren was hostile to the admission ofTex as into the Union, because the number of slave Slates in the confederacy would be greatly multiplied by the adoption of such a measuie. —Raleigh ( N. C.) Star. GENERAL HARRISON AN ABOLI TIONIST. The Loco Focos insist upon this—and 1 we admit that the General wilt be an ti bolitionist of the first water, alter the 4th of March next. He will abolish all sinecures. He will abolish all extravagance in tHe r public expenditures. He will abolish all hankering for kingly power. He will abolish all effort, on the part of office-holders, to make a king of presi dent. He will abolisii this thing of a specie currency for the office-holders, and paper currency for the people. lie will abolish all attempts to raise a large standing army in time of peace. He will abolish the Florida war, and the bloodhounds. He will abolish all tyranny and oppres sion upon the people. He will abolish the efforts making to reduce the wages of the poor man ; and to* make the rich, richer, and the poor,, poorer. He will abolish Locofocoism. fie will, in fine, be a most thorough-go ing abolitionist—such a one as he was last war, when he abolitioned and demolished British and Indians whenever they showed 1 their faces. Now, Messrs. Office-holders, how do you like General Harrison’s abolitionism? LOG CABIN. The Albany (N. Y.) Evening Journal, has a forcible reply to the sneers ol the Locofoco presses, in relation to log ca bins : A log cabin is a symbol of nothing that Van Burenism knows, or feels, or can ap preciate. It tells of virtues that dwell in obscurity—ofthe hopes of the humble—of the privations of the poor—of toil and danger—of perseverance and patient en durance—of hospitality, and charity, and frugality—it is the emblem of rights, that the vain and insolent aristocracy of federal office-holders have lost sight of, or crush ed and trampled on. It is an emblem of that which should characterise republican institutions, and which the people have de termined to bring back to the administra tion of their affairs. Let our opponents scoff at the device which the untutored sa gacity of the people is painting upon their banners. It will be found ere long that there is a meaning in it, that will convey to them a salutary lesson. AN INCIDENT. 1 he Philadelphia Standard relates a sin gular occurrence which took place on the fourth of July, in the city of Philadelphia: An old gentleman from Indiana passing, up Chesnut-street, observed a crowd near the State House. On elbowing his way into the midst, he found a discussion going, on between a friend of General Harrison, and a supporter of Mr. Van Buren. After listening a few moments, he accosted the- Van Buren man, and inquired, “ Did 1 not hear you style General Har rison a COWARD?” “ Yes,” replied the man ; “ I did calif him a coward, and I have a right so to calh him ; for I know him well, and served, under him at Fort Meigs.” “ Do you know me ?” asked our friend’ from Indiana. The man replied that he did not. “ Yes,” said the Indiantan, “ you do— you certainly must remember Captain you served.” The poor old wretch imme diately became pale with fear. “ I would not expose you,” continued our friend, “ if I had not caught you traducing you commander, and uttering things which you know to, be false as your own heart.” Turning to the bystanders, the Indianian continued : “ Gentleman, this white-hair ed old wretch belonged to a company oorr r . mandea bv me at Fort Meigs, under G®-. neral Harrison ; he was publicly drum med out of the camp, after the retreat oft the British and Indians, for theft and the grossest cowardice.” The effect upon the people may be easily imagined. ‘ LOUISIANA ELECTION. The Election in thir State have gone, in favor of Harrison and Reform. The Legislature is Whig, and two of the three Members of Congress, are Whigs. Mr. Dawson (Van Buren) is elected by 13 ma-* jority—but in consequence of many aliens. having voted for him, his seat in Congress! will be contested. The gain in this J&ate for Harrison, is about 2300. The majori ty will probably be increased by Novem ber. At the last Presidential election, Mr. Van Buren received the vote of Louisiana by a small majority.