North Carolina Newspapers

IWvJn til i) "character is as important to states as it is to individuals; and the glory of the state is the common property of its citizens." H. I. HOLMES, Editor and Proprietor. FAYETTEVILLE, SATURDAY, MARCH 21,. 1840. VOL. 2. NO. 3. Whole Number 56. TERMS. 2 50 per annum, if paid in advance ; S3 if paid at the end of six months; or S3 50 at the expiration f the year. Advertisements inserted at the rate of sixty cents per square, for the first, and thirty cents for each subsequent insertion. No paper discontinued until arrearages are paid, except at the option of the Editor. No subscription received for less than twelve "court" advertisements and Sheriff's sales, will be charged 25 per cent, higher than the usual rates. All advertisements sent for publication should have the number of insertions intended marked upon them, otherwise they will be inserted until forbid, and charged accordingly. ... .v.- . , SCCpLetters on business connected with this estab lishment, must be addressed H.L.. Holmes, Edi tor of the North-Carolinian, and in all cases post TO SILK GROWERS. THE subscribers, on behalf of an association of o-entlemen interested in the propagation of th'e Chinese Mulberry, and in the production of Silk, GIVE JVOTICE, That they have procured an approved Reel from the North, for the reeling and making sewing silk from the cocoon, and will set the sru-.e in operation in this place early in the ensuing summer. The business is comirenced for our own accommoda tion, but Ave intend buying such cocoons as may be brought to us, cir else re-Tins them upon shares. 3 E. L. WINSLOW, JAMES BAKER, I. VVETMORE. .Executire Committee. favctteville, Dec. 21, 1839. 43 tf. MORUS MULTICAULIS 3000 Morus Multicaulis Trees are of fered to the public, at fifty cents per tree, warranted rpnnine, and in a Eood slate of preservation. They are finely branched, from 2 to 6 feel high, and were rro n on a poor, sandy soil, consequently well ma tured. Send your orders soon, as tho proper sea son f r planting commences ab ut the 1st Februa ry. Address at Favettrville, N. O. " JONATHAN EVAN'S, Jr. Dec. 21, f?39. 43 if. COCOONS WANTED. HE Subscriber has abnut two thousand verv fi le MORUS .MULTICAULIS TREE? yet for sa'e, from 5 to S feet high, one-ha'f of which he is wi.linff to se 1 payab'e in Ccc )ons,to be delivered next summer; the other ha'f cash. Persons wishing to make' contracts will please make their applications soon, as the season for plan ts, according to his experience, begins early in February. Si k Worm Eggs from a very healthy stock of Worms, can a' so be had. I. WETMORE. Fayftteville, Pec. 21, 1339. 43-tf THE Subscriber having received an appoint ment f-om the Board of Internal Improvement as ffener il Asrent in connec tion w ith a proposed Western Rail-Road, to take effect from the first of January, hereby gives notiee that he :s ready to en ter upon the duties of his appointment. Books for subscription, und-rthe direction f Commissioners appointed in d IT rent counties, will be opened. Any infumition, o-r communication, connected with the subscription to the stock, or ihereneral concern, may bj made to the subsciiher at this place. SIM EON COLTU.N. Fayrtteville, January 1, 1840. 45-tf LOST OR MISLAID. NOTE o! hand male by William Fuion, Jr. payable to me, and b am ir date tcbiiiarv. 1339, iind payable one r'av cf c-r d . to, for thp amount tf t'iree i:undred and twenty f-ur dollars. I hereby Icrwarn a !1 persons from trading for said not1, as satisfaction has been nmde by said Faion it, me. R TfM f A R II SAT. VOX Sampson couiitv, N. C. March 14. 1S40. IrWIHIS day p-rsonally appeared before me, one of -M- the actnig Justic-s oflhe p. ace for said county Richard SuLnon, and maketh oath to the above. Ii.ver.ett Lake, j. p, 55 tf. NOTICE. IJlfjE Subscribe-had t'.e misfortune to loose on I -ft. T hursday cf last week, the fullowinsr notes of hand or bonds, (to wit:) One on David Buksdulc, payable one day alter date, tor the sum ot eighty sev-n dollars and fif v cents, and dated the 2nd day of March in-iU.nl. One other note fi r one hundred Aillars, on the said David Barksdale, payable one aay alter date, and dated on the alh ot March inst. '''o unt receipt from under the hand of Widiam Killen. for two notes of hand in his hands for col lection as a Cont'ih'e in Cumberland Cc:iintv. the aid two noles amounting to about sixty dollars as well as I now recollect. Tli3 subscriber her' by forwnmsnll n'ra.inq frnm t rn (f ir rr cr trnffipinff Inr I'd notes or reef int. and foi warns the said Burks- (dale and Killpn from navincr the money for the said otes into the hands of any person except himself. Fayettcville, March 14th, 1840. 55 3t-pd. Political. NOTICE. fWlIIE Subscriber having received htters of Ad I JL ministration upon the estate of Doctor Hector cXfill dee'd. at March term of Cumberland P'luntv Court 1840, hereby gives notice to all per rons indebted to said estate, to come forward and immediate payment, and thore having claims ?aint the estate are requested to present them run n in;; time pre?crirert by law or inis ionce pui De j luad in bar of their recovery. AJNiN VVILli-lSUoN, Aflmr'x. Fayet'.eviTe, March 5th 1840. FURTHER. NOTICE. X Saturday tha 11th of April next, will be of f red to sale to the highest bidder at the late esidt nee of said Dec'd all the perishable property n a credit of six months, purchasers to srive Note F'th approved securities. The negroes belonging said estate will be hired to the 1st of January. Ml. ANN WILKISON. Admr'x. Fayettevil'e, March 5th lfc40. 55 3t. HORSE STOLEN. HE Subscriber's horse was stolen from the I. Stnhlc of lTr TTpnrv Rrnncnn nn ttif niorti nf iD Inst. 1 he horse is ;t dun color, with a ack main and tail, with a speck in his right eye, sioncd by the blow of a switch. He is about 'X vpnra . I I 1 p rrcAT HOLLARS for the recovery of the hoise and the I'preuensi.m of the tl.iof. JAMES R. DRATJGHON. ' avettevr.le, March 14th 1840. 55 tf. F I S H ! Boxes Smoked HERRINGS, 5700 lbs. DRY COD. Wh 14 1810. geo. McNeill. 55 -tf. From the JV. C. Standard. Conspiracy Expoieda Springfield, 1U. Feb. 17th, 1840. To the editor ot the N. Carolina Standard: Sir, Enclosed we send you a copy of the "Old Hickory," containing a Circular and Let ter signed S. Devvitt Blood good, dated Albany, New York, Oct. 23rd, 1836. These papers show the causes which produced the nomina tion of General Harrison, the means by which that nomination was effected, and the objects intended to be accomplished by i That the Letter and Circular aie genuine there can be no question. The originals are in our posses sion, with the signature of Mr. Bloodgood in his proper hand writing. If its authenticity be denied, we are prepared to prove it genuine. As these papers relate to a subject in which a large portion of the community feel a deep in terest, we send them to vou with the nrivilerre of using them as ybu think proper. we are respecilully vourob t. scrv ts. "S. A. DOUGLAS, V. HICKEX, W. WALTERS, J. R. DILLE, E. D. TAYLOR. Democratic State Central Committee of Illinois. From the (Sprinsfield, 111.) Old Hickory. Conspiracy against the RlgUts of the People of the United States A Foul Plot Detected We nave been lavored by some unknown friend with the following most important docu ment, which clearly discloses the objects and de.siiriia of the Opposition in making General Harrison their candidate for the Presidency, as well as the means by which his nomination was procured from the Harrisburg Convention. It will be borne in mind that the Federal parly throughout the Union, held up Mr. Clay, as th'iir candidate for the Presidency, from the coinmenc'vMiit nt of Mr. Van Bureifs administra tion til! alter the lust August ' elections. The measures of Mr. Van Buren's administration had been submitted to the good sense an tl intel ligence of the country, and the last summer's elections in the several States showed that they were uloriouly ami triumphantly sustained. Mr. Clay himself was in the field, actively en guifed in electioneering travelling from State to Stale eating pubiic dinners, and making political speeches, when the news of his utter and entire overthrow in the Stales of Tennes see, Indiana, and Ohio, drove him home to Ashland in despair. The fall elections comple ted the triumph of the great measures of Mr. VTan Buren's administration; and by demonstra ting that those measures wefe anil would con tinue to be sustained, it was also shown that Mr. Clay, a high '-aiiff, internal improvements, and a National Bank, would no longer meet with the encouragement and support of the American people. In many parts of the Union, the Federalists gave up the contest, in despair, and every where it was admitted that Mr. Van Buren had triumphed, and that his success in the next C'Tntest was certain. Some of the leading Federal papers even went so far as to ure the dismemberment of the party, and the cessation of all hostilities to the piesent Demo crat ic administration. To the Federal party all hope had fled: and it was not by an advoca cy of the principles which had ever character ized them that they coul I expect success. Boldly and openly had they battled for years in support of a protective tariff, a o-rand system of interna! improvements, and a National Bank. Upon ihese questions they had failed, and with them had fallen their great champion, Mr. Clay. During' the past season, the Abolitionists and Ahvlitio: newspapers had shown themselves against Mr. Clay, and had given ihe most decided manitt-itations in favor of Gin. Harrison. To abandon Mr. Clay to secure the co-opcra-ti .n of the ABOLITIONISTS and to pre cuiethe nomination of Gsn. Harrison, to whom the Anti Masons and Abolitionists were supposed to -be at tached was now ihe ohjoct cf the Federal leaders. To serk this alliance openly, they dare nut. To 'proclaim the motive publicly and openly, would be latj.1. tsut to secure ttie nomination ot Harrison, it was necessary that it should be known all over the tt: .... .!, a u ,i r..i A " tillf"U, 111.11 liic nuwi.lliJiiicis uiiu iLiiu-.iiauii would give him th-;ir support. With this view, the "Central Abolition Committe'V' at Albany, in New York, cot up the 'following Circular, which was directed by Mr. S. Dewitt Bloodgood, a leading Abo'ilionist in Albany, to various leading men of the Federal party in all the States of the Union instructing them to urge their delegates in the Harrisburg Convention to go for Harrison. One of these Circulars was sent to Mr. Simeon Franci?, the editor of tho Sangamo Journal, sup posing, from his station, that he could influence the vote of Illinois. Mr. Francis and the whole Fed eral party of the Slate, had long been for Clay. Ana as the vote ot tins state was cast tor Harrison in the Harrisburg Convention, and as all the lead ins; Federalists cf this State, about that time, be came very friendly to Gen. Harrison, we have ev ery reason to believe that it was under the lnnn once of the ABOLITION and ANTI-MASONIC CIRCULAR. Here is the Circular, together with the letter of Mr.B.oodgood: "Albany, Oct. 23, 1839. "To the editor of the Sangamo Journal; "Dear Sir, I send you confidentially) a Cir cular which is circulating here, and is producing irreat. effect. Mr. Clay cannot possibly get. this State, or New England. Our only hope is in General Harrison, who is perfectly unexception able, and has no serious opposition to him on any possible ground. The leaders do not feel perhaps as sure of getting paid for their servi ces with him as with other candidates who have impliedly come into their views. But we can make a odorious rally under his banner, and reach the hearts of the people, with his services and virtues, General Scott has been pushed hy a few anti-Clay men, but it is all nonsense. I send you n pamphlet which is also circulating here, and which shows that no Jackson men or Clinlouians can or will support him. I he great noint now is to have the public voice indicate a preference, or there may be fatal mistakes made at Harrisburjr. I am the Chairman of the State Central Committee of Young men, but do not spesk officially. I should like to forward some papers and letters to your delegates, but their residence is not mentioned. Will you publish their residence, and send me a paper. Yours truiv, S. DEWITT BLOODGOOD." "(confidential.) f'Dear Sir The peculiar crisis in which the Whig party is placed, arrd the circum stance of my connection, by means of an extensive political correspondece; with many of the purest and most patriotic of our fellow citizens in other States, induce me to address you at this time, in relation to the Presiden tial question. And firsr, let me avow myself as the warm, devoted, personal friend of Mr. Clay, and an unqualified admirer of his tal ents and services. I believe he deserves to be President of tho United States, above all our other candidates, and yet with all these admissions I cannot but consider his pros pect at present a hopeless one." We nave lost three years in contests about men, and the tide of victory canying us no where, ex cept into the eddies formed by opposing sec tions, or upon the barren beach of useless controversy; seems ebbing to leave us there. The Whig party being an intelligent and in tellectual class must necessarily do its own thinking, and with thought comes variety of opinions, and with variety want of unity and concord. This is our predicament and our danger. If we were united, we should be formidable to the enemies of our country; but alas, we are beaten in detail. Let us apply this fact to the choice of candidates. Mr. Clay' political course, and long conflicts with portions of his fellow-citizens, have ren dered him liable to warm opposition, personal hatred, and unjust prejudice. Is it the part ot sagacious men to venture against such odds? With a majority of the States against us, is it prudent to risk every thing left us? Our party leaders want sagacity, or, as I pre- ler styling it, philosophy. T.hey act as if mankind were always actuated by the best motives, and that the holding up an abstract truth, is the pledge of victory. Not so. Na tions, like individuals, often rush blindly to ruin, from passion, prejudice, ambition, and many other causes. It is in vain to oppose their will when they take a particular bias. They attempt it, are sacrificed, andthus histo ry tells us with its monitory page, of the down fall of patriots vainly struggling against their erring countrymen, and fiuallv of the down- fill of the masses themselves. This is the law of nature, and the will f Providence. Let us also apply this fact to politics. We cannot expect perfection in the people at large; we can only rely o:i tbetr general good in tentions, sustained by a consciousness, that their own interests, individually, are at stake with those of the mass. When they are right in the main, it is as much as we should ex pect. We cannot hope that they will cease to be men in order to please us. In this knowledge consists the tact of the adminis tration patty. They studiously seek to know the public will, and they follow it long enough to profit by its force and power. How adroit ly the' availed themselves of the popularity of Jackson! By bad measures they have lost much of its advantage, and by prosecuting such a scheme as the Sub-Treasury, they will lose more. But still they are strongly en trenched, and we must carry their entrench ments, or be doomed to political slavery. How can this be done? Only bv uniting on the man who has less opposition to him than another. Superior or splendid talents or ex alted claims are not (he questions to be con sidered. hat is any man compared to the cause? What have we to do with political re wards when our country is on the bunk of ruin? Herein the friends of Mr. Clay have made a fatal mistake. In their love for him they forget that a battle is to be fought. Enthusi asm will not always overpower superiority of numbers. It it could, Mr. Clay would have been President long ago. 11 Mr. C lay runs, he will meet with opposi tion from old party antagonists, whose heads have grown grey in political inquiry. The old JACKSON MEJN will oppose him. The ABOLITIONITS, generally, will oppose him. I he violent Anti-Masons will oppose him. The Irishmen, who have already denounced him for his attack on O'Connel, will oppose him. The enemies of the United Slates Bank will oppose him. The WESTERN SQUATTERS will oppose him. The Southern States Rights men will op pose him. (So say several leading papers in Georgia.) Now, in the name of Heaven, shall we run the risk of this opposition, or even the show of it? Can we go headlong into a fight with these adverse elements actively at work against us? Are we strong enough to ven ture so much? It seems to me that some men must have taken leave of their senses, to advocate any candidate against whom any portion of this opposition may be brought. Nothing but a strong and decided course on the part of our editorial friends, and an appeal without delay to the good sense of the party will save us from utter ruin. To whom shall we look then for aid? Where is the man sufficiently popular to be our candidate, and one free from these objections? I answer, we have him, and have had him for three years, and if good policy had pre vailed, we would by this time have looked down all opposition. Among the "people" of this State he is at this moment vastly more popular than any other candidate; and the reasons ior it lie deeo in the human heart. Since the reverses in the West, and South, and North, men have begun to think, and thinking has produced wonderful changes un der our own eyes. Our letters from the west ern counties' assure us that the delegates to the National Convention will generally be Harrison men, and such they will be from this vicinity The name of Gen. Scott has beea brought out here by a few of our leading office hol ders. It m suspected that i was at. first mere ly a scheme to get rid of Mr. Clay, and the implied obligation of his support. As it took a little better than was expected, a few have attempted to press it. But it is the idlest of all attempts, and even now signally fails. Gen. Scott is not known as a Whig, and not identtfejfith us. A few ambitious men in New 1 ork, and in the army, doubtless hope to advance themselves' by advancing him. But, leaving all other , objections out of view, two circumstances are fatal to him, growing out of a celebrated personal controversy. Gen. Jackson's letter, and that of De Witt Clinton, will shortly make their appearance, by which all hopes of support from their friends will be entirely cut off. Read for yourselves from Niles' Register for 1818, and you will judge how much popularity will be left him in this struggle. But I forbear. I hope you will give this letter your serious attention, and if you agree with me, you will at once throw yourself iuto the front rank, for the purpose of prodjeing "union and harmo ny" in time. Yours with great respect. A FRIEND OF CLAY, BUT A GREATER FRIEND OF THE CAUSE. Gen. Harrison vas nominated and is now the Federal Abolition candidate for the Presi dency of the United States. He was nomi nated for the reasons contained in the above Circular. He was nominated, because the "ABOLITIONISTS" would go for him! Because the "ANTI-MASONS" would go for him! Because the "WESTERN SQUAT TERS" would go for him! ,And because, the "Abolitionists," and the "2nti--Iasons," and the "IVestern Squat ters," would "not go for Mr. Clay!" Having secured the nomination of Gen Harrison, and the co-operation and support of the Abolitionists and Anti-Masons, a new hope inspired the Federal party a fresh and vigorous shout was raised. The Abolition papers all over the nation, boldly and loudly proclaimed that Gen. Harrison's nomination was produced by the firmness and energy of the Abolitionists. Some of those extracts from Abolition papers have been already pub lished. The Federalists every where seem to be animated with the hope of success; but that hope is founded on the support of the Abolitionists. Wherever an Abolitionist is found, he is loud and warm in the support of Harrison. There are some three hundred Abolitionists, it is said, in the county of Sangamon, every one of whom is for Harri son. We call upon our fellow-citizens in ev ery neighborhood of this county and State, to notice the course of the Abolitionists. We defy them to find one any where who is not for Harrison. Such is the case over the na tion. Yes! the men who boldly say they would sacrifice their country and its proud aud holy institutions, and bathe its fields with the blood of their fellow-citizens to make the Negro free, are the men who boast of having made Harrison the Federal candidate for the Presidency; and the men who are every where giving him their most zealous support. Ihe renewed hope and active exertions of the leading Federalists, can be attributed to nothing else but their coalition with the Abo litionists. Upon every question of political principle, they have lest ground in the last three years. And their course last fall to wards Mr. Clay, demonstrates this; lor he was the able champion of all their political principles. Clay is now thrust aside; and un der the dark banner of ABOLITIONISM, the Federalists hope to conquer by secrecy and intrigue. At this very moment, a secret and dangerous organization is going on in every neighborhood of this State; and, it is said, in every State in the Union. In every precinct, poll books are secretly kept by a se cret committee, appointed by a secret Central Committee, living at Springfield. In these poll books every voter's name is taken down, and his vote recorded some nine months be fore the election. But this secret organiza tion is of a piece with that which made Har rison the candidate tor the Presidency. Se cret committees are the best possible resort of those who wish the grounds and motives upon which Harrison was nominated, known to all their friends, especially the Abolition ists. They could not make them known by stump speeches or through the press, for THEY DARE NOT. The union of ABO LITIONISM with FEDERALISM, can best be communicated by SECRET COM MITTEES. But we leave this subject now to resume it hereafter. From the Pennsylvanian. tlnliraltecl I,lal)iliy No. 2. The system of paper money banking as it exists in this country, and the prominent feature of which is the contidiug to associa tions of irresponsible traders and speculators the discharge of one of the most important and vital functions of sovereignty, and thus giving to interested parties the control over the great "commodity of contract," is a sys tem evil in its essence, vicious in its very ronstitntion, and irremediably and irresistibly pernicious in its influences, tendencies .and consequences. Tn the fabrication and the issue of promt- in nav there will be, as has been already chna-n. a constant tendency to excess, be cause the manufacture costs comparatively little or nothiug; because the issue is highly i.i.rtlv: and because the performance of the promise can be evaded, and, as is perfectly notorious, constantly is evaded, whenever it becomes burdensome; or the burden will, at all events, be shifted to the shoulders of others. ''Convertibility at the will of the holders, and a sense of this power in them, on the part of the issuer is uot, as experience has proved and is proving, any restraint in the way of over-issue. It is not a preventive, but a pain ful method of cure. And it appears to exer cise no more influence on the mind of the issuer than the fear of future punishment is found to exercise on the majority of those who are in full possession of health and vig or." On the contrary, the production and the supply of material commodities, possess ed of intrinsic value, will not ordinarily be in excess, because the creation of such products involves an expenditure of capital, and the employment of industry; and because an ex cess in the supply, by causing a fall in price, whilst it benefits the consumer, entails a cer tain loss upon the producer. But it is said that, under a system of free competition, banks of issue will effectually check each other, aud thus prevent all undue expansions in the volume of the currency, and all injurious fluctuations in the value of its denominations. Now, admitting, (the admission being in direct contradiction to all observation and to all experience,) that the banks of a com munity ordinarily act, not in combination and in concert, but in competition and in conflict with each other; still, as the object common to all banks, conducted with a reference to the promotion of the interests of the share holders, is, as far as possible, to extend their circulation and to lend their credit, and thus to swell their profits, this competition can manifestly have ultimately no other effect than to secure to each bank its just proportional share of the general circulating mass, aud, al so, its proportional share of any increase in that circulation of any addition to the- gen eral mass; and the only consequence of an individual bank magnanimously declining to take its portion of growing profits, would be "that the rejected business would go to some other bank." Thus it is that, as with ao expanding cur rency, banks emulously blow up the inflation, so, when the subsequent and surely conse quent reaction has commenced, aud when, from the external pressure of a demand for coin to be exported, constituting the only really operative check upon excessive issues, they are compelled to contract, they vie with each other in the haste with which they cur tail. The competition, so far as it has an existence, consists at one time in a struggle to push out, and at another time in a convul sive effort to draw in as many notes as possi ble. This very elasticity of the circulation this power of suddenly expanding aud con tracting its volume which has so often been represented as forming one of its highest re commendations, thus rendering it eminently dangerous and explosive, and conferring up ou it unequalled powers of mischief. This is the constitutional disease, the incurable taint inherent in the system, and against the destructive consequences of which no effec tive preventive has hitherto been, or is likely hereafter to be discovered, short of such a radical change as shall abolish the exercise of the abstract right to issue, and thus sup press all paper money; or as shall bring about au entire and complete separation between the conflicting, the incompatible and the irreconcilable functions of banks ot issue and of banks of discount of issuers of currency and of mere dealers in capital. Hence the entire correctness of the observation of one of the most able of our own writers, and one, too, of the most discriminating and logical of reasoners: "That the general tendency to an expansion of the currencyj to be succeed ed of course by a contraction of it, is much more considerable where many than where a fc few baks are competing with each other to obtain as large a portion of the circulation as thev respectively can." Hence, also, the justness of the conclusion of a foreign author ity: "That the more banks are mumpiiea, the greater is the chance of fluctuations in their issues, and consequently in prices, credit and so forth." It is not, on that ac count, the less true that so long as the system is allowed to exist, in the language ot the same distinguished economist, "If the names of -the partners in deposite banks, or in banks issuing notes on security, oe given; ana ii these partners be bound jointly and severally to the whole extent of their fortunes for their engagements, nothing more can be done by law for the protection ot tne puDiic inxeresis. Every thing else should be left to individual sagacity and prudence." Thus the guarantee against abuses, as it is perfectly evident, is found not in the com petition, but in the thorough responsibility of the parties for whose benefit the issues are made, and who derive the whole of the profit accruing from the gainful process of convert ing Paper into money of exchanging pro mises for commodities. In this unrestrained responsibility, and not, as is frequently and absurdly taken for granted, in any amount of competition real or imaginary, lies much of the secret of the com parative stability, solidity and security of the Scotch banking associations. To insist, however, upon the interference of the Legis lature to regulate the number of banks, as it ..,ld he iustlv liable to other objections, so it would be to advocate the odious scheme of crrantincr monopolies ana exclusive privueges; n 11 the evils inherent in our present vicious banking system, to add the abuses of oiat and of partial legislation. "The pro- per otyecisu! fc"'- - -j - Lriter of the most penetrating sagacity, and one of the most powerful and conclusive reasoners in favor of the free trade theory, "are to provide that paper money be perfectly secure, and at all times convertible into the coin which it represents; and that the danger of over issues should be met by adequate pre ventive, or remedial checks." And as re marked by another economist, as the result of the most natured experience and' of the. clo sest observation: "The knowledge of who the partners are in a bank, and their unlimiU ed responsibility, are the only securities that speaking generally, are worth a pinch of Btlllff WF 1. . . .1 . .. mew vnuuot protect tne punuc from fraud or loss, nothing else wiH; and h question will come to be, not whether the system should be reformed, but whether ic should be abated as an incurable nuisance." In the language of Mr. Ricardo: "Is it not inconsistent that government should use its power to protect the community from the loss of one shilling in a guinea, but does not in terfere to protect them from the loss of the whole twenty shillings in a one pound note." ' To exonerate individual partners from the payment of partnership debts, js to encourage both rashness and fraud. . '"Under any cir cumstances," in the word3 of an able writer" and experienced banker, "it seems inexpedi ent, as regards the public, and unjust as re gards private bankers, to favor especially joint stock banks, by making a particular law in their behalf." And the practical opera tion of a legislative act granting to associa ted parties the privileges and the immunities conferred by their being invested with tho corporate character is, that "they may con tract debts to any amount, while they are bound to pay ouly to a specific amount; their charters thus vitiating the fundamental prin ciple of all business, and the essence of all confidence, viz: the integrity of contracts. This surely may be termed a premium upon great villany." Bullion.. From the Globe. From the postmark, and some strong indica tions of a disguised hand, sufficiently evident in the manuscript, we feel satisfied the following article comes from an old correspondent, who has been idle for a long time. We hail his ap pearance, and shall be happy to hear fro'.u him often. Federal Capital. In the commercial community, when a mer chant is about trusting a dealer, he first gotrs around among his brethren, and inquires into the character and capital of his customer, be fore lie parts with his goods. The rule is a proper measure ol prudence, and may be advan tageously adopted in politics, as well as trade. Let us then inquire into the materials that con stitute the present capital of the Whig parly, in order that the people by whom they are woo ed to entrust lhem with their dearest interest may judge if they are worthy of their confidence.. The capital stock of the Whigs may -be sum med up as follows: Imprimis. Six or seven hundred broken banks. Item. Some hundred millions of shinplaslers. Item. Some scores of monstrous dinners, and. some hundreds of pot-valiant toasts. Item. Twenty thousand Abolitionists, men,, women and children, (fall colors. Item. Hall a million of "hurrahs." Item. Two dozen remnants of old panics. Item. The fag-ends of half a dozen broken--winded factions. Item. A wardrobe of old coats, that have been turned so often that they can scarcely hang together. Item. A dozen or two aliases, to be used as occasion requires. Item. Two or three hundred manufactories and magazines of calumnies, called newspapers. Item. Haifa dozen Congressional bullies.. An array of orators, all talk and no. A horror of the Independent Treasury. A devotion to a Bank of the United Boasting, bragging and betting, ad Item. cider. Item. Item. States. Item. libitum. Item. Forty thousand masks, and as many double faces. Item. Assumption ol all the talents. Item. , All the decency. Item. All the piety. Item. All the morality. Item. All the religion. Item. AU the philanthropy. Ilem. All the modesty. Item. All the wealth, to wit: six or seven hundred broken banks, and some hundred mil lions of shinplaslers. Item. Fifty dozen coon skins. Ilem. A roasted ox. Item. Ditto sheep. Hem. Six "prairies on fire." Item. An eagle on a long pole, looking very melancholy. Item- A lawyer sitting cross-legged oncouu skins, nibbling a johnny cake: Item. Three dried rats and an onion. Item-. Goody Harrison, a gosnipping old lady, and an available who lives on a sinecure clerk ship in a city, but is pretended to be a farmer living in a cabin and drinking hard cider. Item. Two illustrious converts, one of whom' is in a "peculiar and trying situation;" the other in a quandary. One of these went over to the Whigs because he wanted an office and could'nt get it; the other because he could not resist his natural impulse to treachery. One writes and the other speechifies. Both have become iden tified with the Whigs and Abolitionists, but still continue to hang like dieh-clouts to the tail of Democracy, and profess their principles only that they may the -more eflectualfy betray them They insist upon standing sentinels at the door of Democracy, in order that they may let in the enemy.- They are the Gog and Magog of the Abolition Federalists, and by their aid they ex pect to conquer. They are the geese that be trayed, instead of saving the capitol, and their hissing is awful. They are bladders under the aims of Federalism, and there is little doubt it will swim till they burst with their own puffing and blowing. "Huzza! for Harrison," say they. "This fa all we can do Ut the premises."