North Carolina Newspapers

I AS IHH)iTiv'in .-.-. - " . , . . , . , ...... . . " " : Z -f -V- "character ' .it r . ' .. T : .. IMPORTANT TO STATES AS IT IS TO INDIVIDUALS; AND THE GLORY OF THE STATE IS THE COMMON FROPERTT OF; ITS. CITIZENS." H. ! HOtMES, Editor and Proprietor. TERMS. . ''T- nnum, if paid in 'advance ; 3 if paid at lZ a mflI,ths : or 53 50 at the expiration the ena i . ' -nt- in.erted at the rate flutw- 2 50 per the ena rfrixtfcont" per square, for the first, and thirty tfor each subsequent insertion. 5! nner discontinued until arrearages are paid, N FTthe option of the Editor. - . yjffljon received for lesa than twelve niontns. e. an(J sheriff's sales, will be iard 25 per cent, higher than the usual rates Afl advertisements sent for publication should Vethe number of insertions intended marked upon (temtherwise they will be inserted until forbid, knd charged accordingly. Lretters on business connected with this estab lishment, must be addressed-H. L. Holmes, Edi tor of the North-Carolinian, and in all cases post paid. . , - ' wr id chorihers wishms to make remittancrs K mail, wiil remember lhat they can do so free of costal as Postmasters are authorized by law to Jhink'letters enclosing remittances, if written by themselves, or the contents known to them. LOTTERIES, MAGfflFlCE T ' S C HEMES, for October and November. OTgrFgory, & CO. MANAGER S - t FIVE CAPITALS OF 20,000 Dollars AMOUNTING TO $10O,OOO ! ! ! 3IARYLAND STATE LOTTERY Class A, for 1840. To be drawn at Baltimore, Saturday October 17th, 1840. CAPITALS. 5 prize GRAND Of $20,000 20,000 - .20,000 " - - 20,000 - - 20,000 - - 20,000 MAKING j 100,000 dollars, $10,120 1 Piize of 2 Prizes of 3 " 4 10 50 60 63 63 S5 63 63 5,000 4,000 2,800 . ' . 2,000 . 1,000 500 ' 300 200 . 400 : 250 lft0 - ' &c. ' &C. &C. 75 No. Lottery 12 Drawn ballots Tickets tl, Halves T SO, Quarters 35, Certificates of Packages of 25 whole tickets $200 n .? , 25 half do 100 Da do .. 25 quarter do n it te cc 50 MOST SPLKNDID Capital $00,000! ALSO $30,000 $15,000 AND Sixteen Drawn Numbers In each Package of 26 Tickets. - More Priz.es than Blahfes. Alexandria JLottery, Class B, for 184a .,- To be drawn at Alexandria, D. C. on Satur day, November 14th, 1840. :, - 1 Prize of H9 4 Prizes of 5 10 50 50 50 100 10o 170 124 .; SDO,000 - - - 15,000 - - 10,000 - - - 8,000 - - 7,000 - - - , 6,000 - - , ' 5,000 - - - 4,000 2,500 2,311 - - $2,000 y 1750 :. 1,600 1,000 . . 500 400 300 . 250 ,200 y 150 &C. &C. & , ,. , , - i "Jy S0, Halves 10, Q.uarters S, ertilicates of Park, o-. .roe ttacn T to"-" tv uuiq (itavt. w r n , . 86 halves n do' 26 quarters1 u do 26 eighths ICPKDrdeTT cc (( U U C cc 7 .Fayetteville " ' FEMALE SEMINARY' MAVING declined further supervision of the FEMALE SEMINARY, ii i. K. . .l.t I should express to its former natrnna nH r.:j my coufiJence, that in the hands of Mr. Spencer it will be conducted with ability and faithfulness, on the general plan heretofore pursued. Mr. Spencer as a teacher, is laborious, accurate and persevering. rip HE Subscriber will open the Seminary on the JL -15th of October next, and hopes by giving his entire and exclusive attention to the business fHVi -,n a'LdeFarlment by competent, efHcient FEMALE TEACHERS to merit -the natron heretofore bfslowed. In regard to the plan he in tends to pursue, he has only" to say, at present, that he is DETERMINED to eive a course of tion in each department as THOROUH as possible. The Academic year will be thesame as before; com mencing on the 15th Octobi-r. and closing on th 15th Jnlv, and divided into two sessinna. Pnnila charged from time of entrance to close of session, and no deduction made for absence, except in Cases of sickness. TEKJr&Mn .Advance. Elementary Department, or Se cond Glass, $3 00 per session First Class, ' . . . - 16 00 French Language, - 10 0 - Drawing and Psintins, 10 00 " " ' Music on the Piano Forto ac companied bv the Voice. Music on Guitar. . ; Use of Piano, Incidentals, August i; 1840. 25 00 . 25 00 3 00 " 50 G. SPENCER. 75-t TRUST SALE of Valuable Real Estate. N pursuance of the provisions of a Deed of Trust, executed to me by Michael McGarv. I will ex pose to Public Sal at the Town IIoumo. on Mon day the 2d day of November nest, at 12 o'clock, M. the following desirable Real Property, viz : One lot fionting on Maiden L.anc and Burgess street, with a laro stable thereon. One Store and Ware House, on the North side of Person street, near David Shaw's, occupied by Mr IVlctjary. One lot and improvements in Camplcton. known as the Tobacco Factory. One lot, Store House, Ware House and Kitchen, on Bridge Street, Campblcton. 1 erms liberal, and made known at Sale. JOHN MUNN, Trustee. "YVili-kisgs, Auctn'er. Fayetteville, Oct. 19lh, 1840. 87-2t LAND! LAND! LAND! I NOW offer fur sale a very valuable farm on the Eastern side of Cape Fear River in the connty of B'aden, about 1G miles below the Town of Fay etteville, and immediately on the River. There are 4 60 acres ot land (river survey.) and 12 acres ot back land join'm- the same. About 250 acres were in cultiva! ion thepresf nt year, and there are suitable UUilUill. IIJT III." Ciyil .i.igin.. vjt t'. ai:'H - - are reqtieftod to examine the same before the crop is hfiusod, as they can then jnnge propeny of us production. It is unnecessary to sav it is a lirst- ... . . - i- i . - . 1 . l T rate tarm, as an will oe saiisncu oi urn ici wnen they see it. Terms will be nutria to Euit the conve nience of the purchaser. JUa- x . Fayeltfville,Oct. 31, 1340. 83-tf The Observer will copy. FAYETTEVILLE, SATURDAY, NOVEMBER 7, 1840 VOL.. 2. ISO. 36.-WhoIe Number 89 FIVE DOLLAUS REWARD. J9 AN OFF on the 22d inst., JIM from my residence on the Cape Fear Uiver, 9 miles above Fayetteville, my negro man A-PRILL- He is a little bright complected, with thick bushy hair, very bow-legged, when walking rucks very much, and has a great impediment in his speech, partic ular!' when frightened. Said boy is about five feet five or six inches high, and weighs about 145 lbs. ; agrd about 30 years. The 'above reward will be paid for his delivery to me at my residence, or for confining him in any Jail so that I get him aain, and all reasonable expenses paid. It is more than probable that he may make an attempt to go to Mr Arch'd. McArns, Robeson County, near Gilchrist's bridge, who owns one cf his brothers, whither he has made the atiempt to so heretofore. " HENRY R. KING. October 31, 1840. fS-lf Political. lckets , 130 65 32 J t!s of Packs r,ckets ald Shares or, Certifi Scheraes, will recetvi" tae abvo Magnificent nd an official account oil prompt attention lately after it is over to all $ drawingsenl tmme Address. 'n-dcrfrom us.. ; S. Gregory, &; Co. y? : r Waahint on -, CSJ&vJft Mf BARRELS N. O. MOLASSES Splendid article.: -' . i - -: j or sale by J . ' GEO McNEO.1 March 23, 1840."'-' - - jfft-tf. GENL. JACKSON IuWcatTenuutNt. ; On the occasion of tha General's visit to Jackson, Madison county, Tennessee, on the 8th ult. he was welcomed in an address bv Samuel McLannahan, Esq., to which he c responded as follows : - Fellow citizens: it atloros me un speakable pleasure to be able to meet you on this occasion. It is - probably the last time that I shall have it iu my power to exchange salutations with you the last opjortuuity that I shall have to thank you personally for the many proofs you have given me of your respect for my character and services. 1 he infirmities of age admonish me that I cannot much longer be a partner with you in the vicissitude of this I life, and I can therefore have no other feeling when honored with the cordial welcome you have . accorded to me, but that which belongs to a heart full of grati tude, and sincerely auxious for; your happiness and,; prosperity fndividually .and f collect ive- If I have been instrumental, by the mercy of; a kind Providence, in advancing thq in terests , of . our common countryj I can say with sincerity, that in no part of my career of life have I felt that any honor was due to me, which onght , not to extend in a much b igher degree to my feIlow:citizens who were asso ciated with me, or j to whose judgement and snnervision my. conduct ' was' accountable. My earliest' impressions, imbibed jit ourjte volutiouarv strussle, were ' that the people, stable, .of appreciating tne blessings oiree and were ihe only safe depository of power; quite at JfPeae mprwswuM .; whuu . li.'f i"tot.W section; of ops Union, then a wilderness, but now a rich and power ful State. .: These impressions soon became a nlaxim in the guide of my life, and it is now a proud satisfaction to me, after a long experience, to be able to assu-e you that lime, so far from weakening their force, has con firmed them. Thus' habitually accustomed to look to my fellow-citizens for aid, instruction, and support, it was impossible for me even to feel elevated by any event which did not place their honor and interest far above mine, as an individual; and it is in this view ulone of the consequences resulting from my pub lic acts, of which you are pleased to speak with so much partiality and kindness, that I am enabled to enjoy the satisfaction which their retrospects are calculated to inspire. Fellow-Citizens: My health is too feeble to sustain me in the attempt to express fully the reflections which are excited in my mind by the view you have taken of our pub lic affairs at this time. I cannot forbear, however, a brief response to some of the top ics you have touched. You are right in as cribing to me a deep interest in the result of the contest which they have produced between the Federal and Republican parties. I fed it, and throw away the reserve which would suppress an avowal of it, as an affectation un worthy of a freeman, whatever may be his situation in life. These are no ordinary times. It is impos sible to disguise the fact that a revolution, if not in the forms, in the spirit of our institu tions, is attempted by the Federal patty; and it would be unnatural for me to look : t the signs which announce the progress ofthis spirit, without warning my countrymen of its existence, notwithstanding 1 may be denoun ced by the Whig and Federal presses as a dic tator. Whilst I was -your Chief Magistrate this spirit was frequently exhibited, and so strong ly was I impressed with the character of it3 designs, that I felt it my duly, in my Farewell Address, to guard you against them, and to which, as a full exposition of my views, I earnestly refer you. The display of its pow er, therefore, in the present political contest, does not surprise me. In the early history of our country the Fed eral party made many attempts to mould the Government to their puqoses, but they were defeated by the vigilance of the people, then fresh from the School of the Revolution. Our national energy has since been chiefly direct ed to the adjustment of our relations with for eign powers, and these have had such a pre ponderating influence on the action of the General Government as to furnish but slight opportunities lor the admission oi any prin ciple in our system, dangerous to Republican iberty. JJut the period has aruvcu fc si . r ( v .... J vrt tlv-i mil TO- gard to the operation of our system, so far a3 tae question ol security agamsi iorcigu uan- i i . ...... ...... ger is concerucu; ana wc are jci io itsi uiu capacity to adjust in an equally fortunate manner, these more delicate relations wmcn belong to our intercourse with each other, and in which are more intimately involved the means of preserving our happy Union. Hence we may still be said to be in many re spects in our infancy as a nalion. e are yet to see, whether we can resist successfully the many schemes that can be nrougni 10 bear against our harmony as States, and which may aim to eive a wrong bias to the action of both Federal and State Govern ments. Look, I pray you, at the efforts which are making to array one section of the Union against the other. It is in ibis aspect that the movements of the Abolitionists become fearful and portentous. If there be any real philanthropy in the mass of those who con stitute this parly, it cannot be doubted that it is made to take a false directiou by those wlio are striving to revive the doctrines ofthe Fed eral party. It is undeniable that the mass of the Abolitionists acknowledge as political leaders those who have signalized their oppo sition to the measures which will keep the Government in the party prescribed for it by its founders. If there is a single Abolitionist in the United States who supports or advo cates any ' leading doctrine ofthe Republican party,.! have not heard ot it. Wherever the influence of these societies is felt, it adds to the power of those who favor the establish ment of a National Bank who contend for a system of internal improvement at war with the riahts ofthe States who advocate a tariff of protection unnecessary on the score of rev enue, and calculated to multiply the sources of discord between the various sections ofthe Union. But it is less to the fact that these elements of discord are visible in our horizon, than to the truth that we here, who are the devoted objects of their wrath, are strengthening them by divisions among ourselves about immate rial thinss. that 1 would call your aiteniioii, and arouse you to a proper sense of duty. ? It is: impossible that Teqnesseeans, whatever divisions or names they may allow themselves to be called by, can ever, &s a. majority, be hroiioht to sanction the doctrines ol tne icaer ol nnrlv fJan nnv TpnnesseeaD S3T whether hp hfl whiV. or republican, or democrat can he say to the leaders of federalism, I will give you my vote because I agree wim .you in po litinl sentiment? The almost universal an No ! Yet such will be the effect of An"r divisions, if we shut our eyes to the dan ger which is before us, and which will inevi tably befall the country, ; if the organization of tjhe various influences, now .brought byjhe rj,i;ti in the Rimnnrt of General Harrison, tcuci www ' ri - . should i include any -considerable portion ot the-Southn hus-'lh &Vjd -?.s;tfHJ ;l towCitizeos I know that in speali ; V ' " ' - ' ""' ' V.' i'-c ' i "'"" -r-. tnus plainly, I expose myself to the obloquy ofthe federal party ; and perhaps may incur the imputation of seekinsr to internWcllo with the independent judgment of you my coun trymen. The obloquy of the federalists has no terrors for me when the liberty of the country is in danger. For them as individ uals I. cherish no unkind feeling, but while I believe their principles to be dangerous to the public prosperity, I will not cease to op pose and expose them. For those of my friends who may ascribe to me other consid erations than those which I profess iu the freedom with which I have adverted to the present slate of public affairs, I must be con tent to say that they do me injustice. It is no personal motive, fellow-citizens, that leads me to speak of General Harrison as I have and if I know myself, none such could prompt me in the conviction which I have formed, that the election of Mr Van Buren is essential to the preservation of Re publican principles. It is true that with the latter gentleman I have an intimate acquain tance, and have for years been on terms of the closest confidence and friendship. But his claims to my personal respect, great and unqualified as I admit them to be, sink into insignificance when contrasted with those which he presents not only to me, but to you, and all the country as a genuine re publican, a pure patriot, and a sagacious statesman. ..To these claims his services, whenever he has been publicly employed, bear the most indisputable testimony ; and it is but an act of duty for me to say that they were most signally displayed whilst he was a member of my cabinet. Mr Jefferson him self in a similar situation could not have been more careful ofthe public good, or more re solute in maintaining the republican princi ple free from all innovation or taint, whether threatened by open or secret influences. This, my fellow-citizens, is a great and momentous crisis in our national affairs, in which our dearest rights as freemen are deep ly concerned. The Presidential election is near, at hand, which will decide the fate of our republican system ; whether it will bo perpe tuated on the great principle laid down in our written Constitution, or changed to a great consolidated Government in which the rights ofthe States will be destroyed, the Confedera tion trodden under foot, our glorious Union burst asunder, and your constitutional liberty lost forever. Its destiny is in your hand, the hands ofthe sovereign people and at the polls on the 3d of November 'you decide this all :mportaut question, for weal or for wo. If vou cast vour votes for that well tried rcpubli ' . . li: can, IMartiu Van liuren, your iLuuin;au system is perpetuated and placed upon a du rable loundation. Cast your votes tor lien eral Harrison, the chosen candidate of the apostate republicans, the abolitionists, and the Hartford Convention federalists, and your constitutional liberties are perhaps gone for ever, and may end like that of the ancient Republics. Then I say to you, go to the polls like in dependent voters, bearing in your minds the blood, the treasure, the days of toil, the nights of watchfulness it cost your Revolutionary fathers to procure and beqealh to you the invaluable boon of those blessings of liberty which we enjoy, and which every obligation we owe to posterity binds us to band down to them unimpaired. Then, fellow-citizens, I say to you, go to the polls on the 3d ot JN o vember next, with that independent spirit with which your Revolutionary fathers fought and conquered go, 1 say, looking steadfastly at the stars and stripes on the banners of your country's glory, under which your Revolution ary fathers fought and conquered, and give your votes like freemen, as you are, to that man whom you believe to be a pure, undevi ating, and well tried republican, and your liberty is safe. You thereby snatch the re publican system from that peril that awaits it, and to which it is now brought by the com bination of a united faction of apostate repub licans, abolitionists, and Hartford Conven tion federalists, leagued together for the pur pose of destroying your constitutional Go vernment, a ud raise upon its ruins, and your liberties, a great consolidated Government, based upon the combined moneyed power of England and America ; and make the labor ing and producing classes of our country "hewers of wood aud drawers of water" for their own aggrandisement. Remember, my fellow-citizens, the fate of ancient Rome ! Remember that by corruption and the combi nation of corrupt factious she lost her liberty. Then I say again to you if you vote for the candidate of this combined and corrupt faction, whose voice is silent and will not answer any questions you ask him, and, in which your important rights "aro deeply concerned, you seal the fate of your constitutional free dom. I say again, fellow-citizens, remember the fate of ancient Rome, and vote for no candidate who will not tell you with the frank ness of an independent freeman the princi ples upon which, if elected, he will adminis ter your Government.', That man deserves to be a slave who would vote for a mum can didate .where his liberty is at stake. ' Can a freeman who values his - rights vote " for any man, who, when asked for his principles, in sults you with the reply,: " I will answer no questions coming 'either from friend or foe V I answer, for you that none worthy to be free can do soK, - vVan j-V. ! I thank you, gentlemen for your kind attention,- and can only add an expression of my regret, that the feebleness of: toy health gives me so little power to do justice to the im portant object jbfyoJrt- assembling on this c From the JST. Y. Evening Post. To the Society efFiteads in tlie IT. States. . It is the object of a State, or political so ciety where liberty prevails, to make the peo ple's will the ruling principle of government. It is the purpose of a sect or religious society to secure or promote obedience to the will of God. And it is the aim of classes of people connected by similarity of circumstance, to aim at the temporal aggrandizement of their own order. : In every country the principles of the state, the sect and the class or the politics, religion, and vocation of man, exert an influence on one another, and determine the general course of opinion. At all ticnes some of those ele ments are in conflict, and it is generally when two of these become paramount over the rest, and contend for mastery, one over the other, that revolutions result. Perhaps the most prominent classes which have been arrayed against each other in modern or in any times, have been those of capital and labor, of persons and proper- In all the civilized Governments of Europe and of old, no political power was conceded to persons without property. And it was, the peculiar and preeminent glory of Wm. Penn and his followers, to be the first of all the world to recognize the right of the person without property, to bo a citizen or a voter. In all the other colonial charters and State constitutions up to the adoption of our pre sent Constitution of the United States, a property qualification was required for elec tors aud officers. Since then many of the States have abolished it, but several still re tain that feature. It was from the State and Colony of Pennsylvania that the framers of the Federal Constitution borrowed the precept and practice of universal suffrage; audits primitive establishment in Pennsylvania was the effect not only of the peculiar tenets, but they were the genius of Quaker reli gion. The evil of riches and the love of money, have long been topics of discourse with moral ists and ministers. But the "Friends" re duced theory to practice, and cut off by their discipliue the very objects of avarice. They expressly prohibit superfluity of apparel, of diet, ot lurmture, and ot habitation; and by thus rendering superfluous wealth useless, destroyed all . motive for its accumulation uui w miam ana nis urotner colonists very naturally considered that if property were niado indispensable for political . privilri? and honor, a very strong stimulant of avarice would still remain. They therefore wisely and religiously cut the connection between avarice and ambition. They, divested Mom muu uf die dignity of his robes of office, and casiooi' ?fi?x left him among men, as well as among the fallen angels, "the least erect of all the spirits that fell." How well have the conclusions of philosophy and the history of twenty cen tuiies verified the holy oracle, "that the love of money is the root of all evil." Mammon has been the favorite idol of the world, and has been bloodier thau Moloch, viler than Belial, prouder than Lucifer; nay, all the other vices seem at last to be render ing homage to avarice. Ambition, vanity, and appetite, have all become its parasites. William Penn and his associates drove the money changers out of the temple of liberty, as their great exaraplar did out of the temple of religion. Aud by the constitution of the Union and most of the States, avarice is no longer recognized as a constituent, much less the supreme principle of Government. But although excluded from the Constitu tion, the money power has been received into the Legislature of the country. Money hol ders have been associated by law, endowed with protracted continuity of existence, and surrounded with privileges aud immunities. They have been authorized to contract debts, without being bound to the extent of their property to pay them, or subject to imprison ment for refusing. And they have the exclu sive privilege of supplying the paper circula tion of the Union, amounting commonly to about one hundred and forty millions, which is a standing loan from the people to them of that amount without interest, and with its at tendant advantages is more than equal to an annual gift of at least ten millions of dollars. The banking capital ofthe Union is nomi nally three hundred and forty millions of dol lars, and is held by less than two hundred thousand men, the most of it probably by about fifty thousand, many of whom are aliens and foreigners. These men, with this mo ney, have been erected by legislative authori ty into a privileged order, with control over the currency, credit, commerce, property and labor of the Republic. They lend four hun dred and fifty millions of dollars, and have the power to establish or overthrow the for tunes of individuals, of classes, and sections of the couutry. " .. . ' r " . This is a power as great or greater " than any privileged order has ever yet possessed under auy. Government, lhis is a power which exceeds the aggregate of all the powers conferred by the people through 'the constitu tion on all their public agents who administer the Government. This is a power able to. govern or overthrow any Government. ; ' This is a sovereign power. : Let ua consider how it has been exercised. ' ; The r leading and ; lauded maxim ; of the banker is to give facility to the business of the country; that is, to give credit to com-: merce. . l nis is me avuwea principle ana standing boast of banking. 'And although its sincerity has been often questioned,' its c utili ty has not, that I know,, been enied.lJut I now deny' it.-: And I assert that commerce neither needs por merits moire credit or poliri- cal favor than agriculture or manufactures. Commerce is not more useful or more nbbl than either of them and as it is in fact more fashionable and attractive, it requires less ex-:t traneous aid than either. Why then should ' three hundred and forty millions Of capital Dei? collected into masses, gifted with the use of a i j j f tf . . .t. uuuareu mimous oi creaii, exempiea irom we vicissitudes of mortality and fortune, placed" beyond the natural laws of our being and the " obligations of civil society, with all incidental T and resulting powers, for the purpose of af-. lording (acuities to business If it be admitted that commerc has HO " paramount claims over agriculture or manu factures, but is rather less entitled to public " favor than either, how absurd must the policy . appear, of conferring that favor at their ex pense? " And this is the very evil of our pre sent banking system. Government has given . to banking- capital alone, the use and profit " of the common circulation of the country. : Every man, therefore, who holds banking r capital, realizes the interest, not only on the stock he subscribed, but on about one-third of the amount more from circulation. The conseque.nce is, and has been, that capital - forsakes agriculture and manufactures, on -which no such bounty is conferred by Gov ernment, to go into banking and commerce. ' Thus are the accumulations ot the two most useful branches of our industry drawn off, to -be wasted on the other. I say to bo wasted. For as has been already remarked, the mer cantile life is more fashionable and attractive than the hard work ofthe farmer and ariizan, and always secures without Government aid its full proportion ofthe capital, the talent and population of the community. Nay, so se ductive has been that vocation to all who wish to evade the course of earning their bread by the sweat of their brow, that the competition and conflict of capital and skill in mercantile life is usually too great suicidal waste ful of mental and monetary energy. The addition of enormous credit and favor ag gravates the morbid inflammatory action of mercantile pursuits, and bring on derange ment and disorganization in business, such as we have constantly beheld since our sys tem was adopted. ' It cannot be asserted with reason, mat the accumulation of credit in commerce, is the salutary and appropriate mode of applying it to agriculture and manufactures. That woi'u be to reverse their actual and reca?-""?0 or" def. Commerce is achDOaged to he sub ordinate and dependent on them this would subject them to her, nor can it be maintained that our present system is equally favorable, in its direct dispensation ot credit, to alt in . . ..... . . ' i proportion to meir wauts. ti e nave seen mo importations of the country, which directly suit from mercantile action, constantly running to excess with the progress of our banking system. Precisely at the moment when our bank circulation was the highest, our excess of imports was the highest being sixty millions beyond the exports, the highest excess known for a long period, and in fact the excess of our imports was about the ex cess of our circulation. It will not avail to contend that this was abuse and overaction of the banking system. It was overaction, and it is by overaction in all cases that the specific effect and tendency ot all principles are tested. I hero was no overaction on agriculture it is confessed nor was there any on manufactures, the present depression of those interests results from tb mercantile revulsion not their own exces ses. And this operation ofthe system is not ac cidental and casual,' but uniform and inevita ble. Banks must be m cities where com merce is carried on and money must chiefly be in the hands of merchants, although the aggregate property of that class is not near so great as the farmers. Exceptiug therefore the few who deal exclusively in money in the large cities, the merchants, from their, location and vocation, must have control of the banks. And thus the welfare of the Commonwealth is dependent on the will, the reason, and the fortunes of a class of men and branch of , business, not selected for that purpose by the people, not qualified for the trust; by any natural or conventional presumptions ot vir tue, talent, interest or sentiment, beyond an equal number of the rest of the citizens. . And this great power has been conferred by the State Government in granting the exclu sive privilege of a credit circulation. This money government of the country, tbiu created stronger than the political power, is given to those only who have a property qualification to the man who can pay to the stock, and in a proportion to the amount of stock taken. The actual controlling effective government ofthe country is now, therefore, no longer a government of persons, as the Constitution, prescribes, but of property not of men, but of money." We have gone back, therefore, and are going back from free principles. We" have overthrown in practice the ' fundamental declaration in our bill of rights; we have abro gated the' doctrine of William -Penn, and got simply - the political principle vhicb he established; bat a most important religious principle, vigorously enforced by the Quakers; and uniformly acknowledged by all the sects arid moralists. In onr country, the merchants engaged in the import trade, comprehend the greater part for wealth and number of all the vocation.' And our import trade comprehends nearly : all the luxuries and- superfluities we use. ' " -f '":'""lf 't:':.' 'firV--'-'i ' The Quakers, as a sect, nod asmCvuj; ; are' opposed to the use of all these,' sd teswy by constant pre cepts and examples rainst thera !' But . they afe now called udo n 1 - lents more credit or poliri- citizens to aid in continuing not oalv uW.? .