A MPItfUY. KKtllAT.OCT. 8. itua.
(u the original holder. This proposition was ' by a saly of lik lalv'A stocks, in kaUui vrU
onpmrrttyieTtTrprindmiMi, nmong them ' of Intern il ininiiAcment. 'And sin h sale will
Mr. Madison, but it wa aUo defeated. It had
J'uhlie (' .dU Tk Ketimatt Ploeed
fcv 'c'A. n Repndmtkm J.UtkmuroMr, JMe
kiil, mid JhrtrMetim tj "It .Sound Morality,
Vonfc fii vrtt (u Mf TAe ihexfews
Vop . A'urtt Cornma yrrafar fea ra
,-. ,.. Hon tlep am be IXmtnisked and the
Porte Miami tiithuitt retorting ta On crime of
The time seems to liavs arrived when some
dieciiwiou of the subject of repudiation will be
forced upon the country. Thia will be regretted
l.v everv en lightened friend of hia country, by
, very bigR-minded and honorable man, by every
sincere t hristian. by every fri)d of pure mor
ulilv, by all who value the political, aoelal, and
in oral well being of society. Upon this, d
oilier subjects connected with it, wc propose to
(jive our views and niiuioua for whatever they
may be worth. We also opor to Ke the
opinions of others which cannot fail tocoutmsnd
respect. We propnMj to enter upon the discus
sion in a spirit of candor, of fairness and of tol
eralion of the opinion, if not the principle, of
others. For it must Ik) admitted that the hu
man mind is so dunstltulsd lliat nu n, lessoning
frout the aume admitted premises, often arrive
Ht opposite coin In-uilia. And this remark hold
good in questions of moralsas well a in questions
of utility and eicjicdiency. And there are thone
who are ho much under the Influence of preju
diee and passion a to he unable U consider such
questions in any other light than that of mere
feeling. To this class a large charity should be
extended. And there arc other still forjwch
rharartem abound in all Democratic countries
who arc mere demagogue, and who endeavor to
increase their )lmcel. -iuwurlaiKeand add .to
tlx ir popularity by first inflaming and then pan
deriiuj to the passions and prejudices of themul
titude. This latter class cannot, ami should not,
command the respect of high-miuded and hon
Thousands of men there arc who, consider
ing these questions in a mere utilitariah light,
arrive at very erroneous conclusions as to
what would redly be licst Sir lae country. IV
ble to take n eomprebensiea view they look on
v to the immediate rvsnlts of repudiation In re
lieving them from the payment of present taxes.
Thev never stop to consider what must necessa
rily be the ultimate consequences of the measure.
Thev never Mop to consider what must be the
condition of a nation which ha dishonored it
s. If in thr eves of other nation, and whose cred
it is Irretrievably destroyed. Imagine how a
high spirited .and intelligent man would feel
who who had so acted as to forfeit the respect
nnd confidence of his fellow men, and who had
lo-i his own self-respect by the consciousness
that it Was deserved. Do this and you will have
some idea of the situation of a state or nation
which had deliberately repudiated it debts, and
how its ciliions would feci when confronted
with the citizens of other nations. And not on-
been propoxod juid i. i. .1 in various Stale lqg
Islalurui. Marylaad and 1'enusylvaiiia, when
they iseutd their on n, uiateud of ( ouiiliental
ocurtuca, wade mu dinriuiination, Now York
and New Jentry had funded the t 'oiiliueutaJ
i debt, but did not dieriminat, South Caroliua
j i i a similar proposition by an alaoat
unauiiuoua vote ; aud a motiou ta that flaat in
the icgislatura of MaiaaciiusetU did out (ran
racaiva a aacuad.
Duriag the distimaian of thia latter proposi
ti., ii Mr. Sedgwick Maid, in -uUtaucv, that wheu
ever a voluntary engagement is made for a val
uable consideration one which is aalisfactory
at (lie time -and (ha Imm of the contract
are understood, if no fraud or iuipuailion is
practiced, a literal performance is absolutely
binding. It is absurd to say that a eon
tract is assignable ; aud at tha same tioaa to al
lege, that there is a kind of property in it that
the holder could not eouvey by bona jid con
tract Mr. Lawrence took the sumo view. The
public faith, he said, was as sacredly pleslged to
the beeiwr as it was to the original creditor,
J'ublie credit, be aaid, result from fair and up
right conduct; and tha Qorermacitt, to su(ipurt
it, must peron it rmUrurt. This view prevail
ed and the discrimination was not made.
It has atrcady been stated that the certificate
were made assignable to enable the soMiem to
sell them. The oUR-crs a' well as soldiers had
been paid off in them, and had diiiposed of them,
in most instances, for wlutt tbey could get. Yet
while this proposition was peiiJing the Society
of the Cincinati, composed of all the principal'
oflicer of (be Revolution, unaiiinioualy parsed
a resolution, disclaiming the principles of a pe
tition projiosed to be signexl by the Army for u
discrimination, "conceiving it incoiuiatcJit with
the character they maintuined, tofkany tulcan
tape io tkmatlm which inigilt ho rneoriipatiMc
with the prbiciplea of an honorable jxilicy." In
the whole history of Governments we tin4 ho for pursui 2g the" same course, under pteciae-
not diminisli t!te value of said works to die peo
ple of the St ite, but enhance it. II. n we do not
believe thev will consent to pur the new debt,
uiade, as they believe, in di lianoe of the Ctanatl-
tut ion, and under the upplianees of the arts of
bribery aud corruption. Vw do not sue how
ihey coidd now meet the interval on the old and
new debt combine! If they would.
lUr Wilmto Journal nd OU Jftth
Stutt The Wilmington Jnmmal docs not
asswui to a.-cui iitely remember onr position in
the past. It was in IHp7, aud u iu the
last Sta lectiou, in 18(M. aa the Journal
supposes, that we were iHaaattrfied with "the
organiaatlou. the platform and canvaaaof the
Conservative party." We believed from the
first that r. e. ust ruction under the law of
Congress could not be avoidel, and we wish
ed to mnke the beat we could out of the situa
tion. We (Weired to unite the entire couser-
at ive clement for the purpose of electing
and oh i. lining control of the Cunveution.
If thia had been Jul. we would have to-day a
good Constitution. Iinpnrli.il suffrage, of
entree, could uot hAve been avoided, but uo
able bodied man would be allowed to vote
who neglected or refused to pay hit taxes.
Iu other resperta the old Constitution would
have been retaintd with little or feo ehamre.
Ami this could have been -effected by the
proper course. A large number of Hepub
licuua. including nearly all. the taluutaud res,
rpectability of the party, were ilhug to
unite with the Conservatives upon auch a
platform. A split, w hich lasted for some
time, actually took place in the ranks of that
party. Then vat precisely tuck a conditum
of thing at teas recently taken advantage of
hf thtiontmreim rf Virginia in the for
mation of the Walker party. We were then
UOHi KXCMrrMl NT
lv this, for it is capable of dt-monstrative proof I measure waa great and ra4d. The credit of the
that the repudiation of the national debt would
result in a season of financial distress compared
...l.l. ' , I..,, , , . ... I la. tk Mr,nfK Kv ill, (,,!-
HIUI WIIICU 1 1 1 1 1 VI. V . .ii ...v J
Vsvullhe,Confeileracy might be called pros
a time, of all values audltic 'iUlyiiiel en fan
business. The fortunate holders of the little
specie would at once become the holders of all
the valuable property in the country.'
Jt is to be presumed that the American peo
ple still cherish the memory'of, and have some
respect for, the principles of the virtuous and il
lustrious Fathers of the Republic. Entertaining
this belief we propose to show how high was the
estimate they placed upon the value of the Pub
lic Credit, how jealously they guarded it, and
how scrupulously they avoided every thing
which had even the slightest semblance of dis
honor. At the close of the Revolution there were
those who were opposed to the payment of the
I lomestic debt at its nominal value on the ground
that "the certificates had been given for depre
ciated paper, for services rendered at exorbitant
rates, or for supplies furnished at more than
their real worth." This was proposed. in the
second session of the first Congress, by Mr, Liv
ermore, when the provision for the Public
Debt, recommended by the Secretary of the Treas
ury, was under consideration. He argued that
a liquidation at half their nominal value would
he a commiance with lustice. lr. SCOtt re
garded Congress in the light of arbiters. They
wore not bound to pay the certificates at the
value they expressed. He moved that provision
should be made foFtne Debt, "as soon as the
same is ascertained and liquidated." To this it
was replied by Mr. Boudinot, that they were not
arbiters, but parties to contracts, by which the
public faith was pledged ; to the honest perfor
roa nee of which they were bound, as well by the
Articles of Confederation, as by the Constitution
of the United States, which explicitly recognii-
rd them. The certificates had been made as
signable by Congress to enable the soldiers to
di-ose of them, and the motive for their pur
chases. Was the chance of their enhancement by a
future provision for them.
. Mr1. Ames showed the imnfortTlTyraftdimpol
irv1 of any- proposition, having in view an arbi
trary rcdueviuiwof the debt. " The evidences of
if were to lie considered as "publicMjohds," tor
whHi the whole people were pledcrcd, "The
on!' jnst id. a i-i, that wHen the public contracts
;i debt with in individual it becomes person 1 lied;
and that with respect to this contract the powers
of jOVcfhmcnt shall never legislate." "What
re; chief will follow this discrimination? The
. lailiiio Xaith Kill Jbcdaotrav'ed our future credit
wid be a mere vapor." After a long debate the
proposition to establish a scale of depreciation
and liquidate the debt was rejected, by a large
majority. During the discussion it. was declar
rdTJut ihc only question which was open was a
modi. c ation of the payment vitk the content of
l;.r cn-diti.rt. Such was, the acrupubiui honor of
the Fathers with reference to the Public Debt
qf the involution w! ich was held by our own
people, i one "ii jouiui rm nxm no mwrs at
pro o ed any m
understood the necessity of preserving tlie na-
t' -.nil credit unt:irtit-hefl. lUt in these aecen
. rate times we hear it urged as a reason for res
puliation that manv of our bonds are held
A fttr the defeat of this proposition a resolu
tion was offend ' that a dSscriwination ahould
higher sense of honor than was displayed by
Congress and by the officer of the Revolution in
relation to the Public Debt of the country at
that trying period. And in addition we will give
the view of an eminent citizen whose opinioo
were greatly respectedby Ii is contemporaries. Dr.
Wilherspoon, in a letter to the Secretary of the I
Treasury, said ; "Discrimination is subversive of I
all credit, , Such, a tiling registered
and believed on the Exchange of Loudon would
bring the whole national debt to the ground in
From the history given it .will be seen that
our Revolutionary sires not only possessed an
exalted sense of honor, but had a very high ap
preciation of the advantages of public credit.
in the discussions it was admitted that if the
point of actual tuitioiud btinkrujitcy had been
reached, then they would be perfectly just ilinble
in reducing the debt to a sum vhiek vM ante
utude payment potnioU, but not ;herwi.e. Coder
such circumstances they would have been justi
fiable as hotuxt bankrupt, lint the point of bank
ruptcy not having been reached the debt was
funded at its nominal value. The effect of the
government, which was at the lowest ebb, sud
deiily rose a high as that of any nation in the
world, and has ever since remained so until the
breaking out of the late civil war.
eo'frteytMU 'tWTMWWfaY1 yaffi!f,.,U'
one pretend that the present debt Is greiUU' 'i
pnqiortion to our ability to pay than was the
Revolutionary debt? If so let thedeht be fund
ed at a lower rate of interest, say three or four
lcr cent, as was done in reat Krittain, with a
provision that the new bonds shall be liable to
the same rates of taxation. by the FederaJ Gov-
erument as other stocks. But in the name of
all we hold sacred as a nation let us hear no
more, of repudiation. But the point of national
bankruptcy has not been reached. The debt,
funded at the close of the Revolution, waa great
er in proportion to the ability of the country to
pay than it is now. With proper economy in
the administration and application of the reve
nue the present debt can be discharged in the
space of fifteen or twenty years. The reader has
seen that oor Revolutionary ancestors considered
propositions dishonorable which must ever be
regarded as comprising the very qiiintescwnee of
honor when compared with repudiation. Has
their example lost all its influence with their de
scendents? We do not believe it.
An immediate repudiation of the national debt
would not only dishonor us in the eyes of other
nations, and make every citizen of thia Republic
traveling abroad ashamed of the American name,
as has once before happened in our history, but
would ruin the country in a financial point of
view. When the debt goes down it will go
down with a mighty crash which will reverber
from one end of the continent to the other.
Public faith and public credit will cease to exist
together. AH paier money will suddenly go
down with them. All values will be destroyed,
and for a time all business will lie suspended.
All the property of the country will pass into.
the hands of a very few. No logic is wanted to
prove that this will be sn. Tim mere statement
cannot law to carrv conviction with it. r,verv
man, not governed wholly by his prejudices
must see that in that event the people of the
South wiH loose all that - they-have mtide by
several years of cotton plahting since thfc war.
and be placed in a far worse condition .niau tbey
were at tho close of the tmgg!e. There will be
ao money left in the South save n very littl
specie. Her people will hare, to start anew In
he work of recuperating their fallen fortunes,
And with the violation of public faith and the
destruction of public credit will come the de
struction of all confidence, between man and
man. l.ue Uenturaiuattuu-iKiW'tHweatlimr -wtll
be increased ten fold. The street of the busiest
marts of the South will grow up in grass and
wide spread vice and misery will prevail. And
however the repudiation of the .State debt might
relieve the people of the State from the grind
ing and oppressive taxation under which they
are now groaning, there can Ie no doubt that
national repudiation will work the pecuniary
ruin of the South if not of the whole iountrT.
y the same circumstances, tha, was pursued
by our Conservative friends i a Virginia. Aud
subsequent event.- h.ive more than justified
Hut after the failure to (orin a coalition
ith the Conservative Republicans, and it
liecatne apparent what sort of a Constitnion
would be presented to the-people of the State,
we went as heartily with the Conservative
to defeat it aud the Radi al ticket in April
IflhiS. as did the Journal. We made as many
if not more sarriliees to accomplish that ob
ject than the editor uf that paper. The
platform of the party in that content met
with our entire approbation, though it was
not, on one point, expressed exactly In the
language we would have employed, could
we have had oilr choice
of Mljrlng to the colored people in so many
words that we were in favor couferiug the
right of gi.ffi-Mge upon all them who possess
ed certaiu qualifications. This being object
ed to by some, we, as a member of the
coinmitte ou resolution, had the billowing
plank inserted into the platform, which cov
ered the ground for which a-e contended.
"Betioleed, That we have no prejudices
against the negro race, and that we are iu
iMuiU of the Seenm and Inrittrnti M Jfcw l'er
a tridau and Satw dayFeroeumt Btruoatet
Jsrwrm " JIuOm" and " BtnHTkt Im
on Roth Side 2'mtporary Hucpeueton of Hot-
On Ketordav a comparative calm succeeded
the raging excitement of the previous dav among
the gold sHx'ulalors m i lurk. baIy ui the
day, however, Wall, William, Ilroad anil New
Streets were thronged with excited crowds, dis
ctMUng tlie events uf Fridav alal sliding to the
general feeling of distrust by retailing romow of
heavy lailurcM. Such hrras a crtnllvc A ,
Smitli, .,,nl. I. Martin A Co., Fiak and Helden,
Itelden A Co., are named in the list of failure,
but these report aaiwt be received with caution,
as the truth is not known. It la estimated that
twenty or thirtv small Areas have failed. In
some of tlie brokers' quarters the crowd was ao
great that the police acre called in to keep the
A dtnietoh aavs that it Is believed that
gold will not Uncinate so heavily again for four
or fire weeks, if ai all. There will be some ad
vance this week, but the back of the bull clique
la Lrnken, and cannot couinand enough to huv
up the $ 1,000,000 uttered by the Treasury. Thr
New York iiaisrs of Saturday morning and
- - .v..
evening are ailed wiib great masses ot details,
cmiflictiiig snd uncertain in many polhta. The
..n.- and incidents of tlie ureal financial storm
of the two days of the pa-t week are givenin the
lollowing trom tlie ew i ork pns rs. Une wri
ter nrtiises his aiTOiint with an intertMling de-
scriptuia of tie.. gold room, in which he saya:
nil VJOLO I M.
Imagines little fountain in tha centre r5f the
hip)ioihcatrwi; in the centre "Of the fountain Is
a brunae cuirid, with a dolphin in its arms; from
the head of caidd arise a tiny silver stream
lll. LM f , l.i." 1- , , " M t
which uiis in jeis in me oasin oeiow. r ancv an
iron rsilingjiiiicty feet in circumference about
this basin ; then a apace of some twenty feet be
tween the walls and the 'fountain, and you have
a rough idea of tha gold room. On one aide
are two galleries, the lower for the errand-hov
and the up)wr for the spectator- Wa stood in
the fower gallery, beyond the fountain. With
hia bark toward New street stood the secretarv,
records na; tha as tea, which he caught by his ear.
Near hint is tlie telegraph operator. Wire run
from his machine to uearly five hand red broker-'
olficr, who are ihus instantly informed of the
state of the market, and' are enabled to make
their bids undisturbed by the furious excitement
which rule iu the gold room on momentous oc
casions, Wc have described this gold room.
At 10 A. M. the board opened aiMlthe vice pres
ident in the chair. Usually the heavy gold op
erators remain in their offices, and base their
irtrts, which thev send by messengers, upon rc-
Kul received by their office telegraphs. I'.ut
the magnitude of to-day's fight drew i.ot of the
moguls into the amphitheatre, an'.! thev entered
upon the combat with the ferocity of gladiators;
'Among the prominent operators in the arena
were Albert Speyer, Henry Clews, Horace Wal
do and hi busier. Mr. Colgate, of the firm of
Trevor & Colgate, Mews. KemUr & Uelser,
and fift others,
Bros.. Hmilb, (iould ii Martin, William
M. Tweed, J as. F1k, Jr., Peter B. Hwecney, and
Arthur Kimher, agent for Htctn Ri others, of
I .on. loii The broker engaged in uncrating fur
the clique alsivs named wera Da kin, Qlllnqdc
A Co., hold, n A ( u. illiam Heath A Co.. K.
K. V illard, Chapiu, Rower A Iav, A. Hpever,
Chase, MeClurc A Co., S. Waller.
IiARIXO nmiTHEIt TAKK A 1IAWD.
In the leading llrosil street brokerage house
we heard it assertid a a fact that the famous
house of Raring Brothers, at Loudon, telcgrsiih
ed to Duncan, Nberuiau A Co., that titer had
deposited in the Bank of England ten millions
iu gold io their credit. The reporta ware v
rious as hi whether it waa ton millions of dot
lars or ten millions sterling. The name of Rich
itrdSchcll was 1 1 noted as an authority for them
mor, and that on his credit the he we of Duncan,
Sherman sVOsw obtained ten million dollars in
gold from sub-Treasurer Buttsiiuld, which was
at on. thrown on the market with must disas
trous effect to the "bull" party. -
KllXJtn, WOVWDSD, UD stlSSIKO.
The Fifth Avenue Hotel wss the scene of the
wildest excitement Friday night. Tlie crowd
there waa immense, rivaling even the timings at
the time of the Tammany convention. To sum
up the rumors that prevail, if they are to be
trusted, the following well known and heavy
bouses have failed : Messrs. Belden A Co.. Wm.
Heath A Co., Chase. McClure A Co.. Dakin A
Co., Ward A Co., Smith, (lould .v Martin. Al
bert NM-yer A Co., and a host of smaller firms.
Maior Bush, of tlie fiftv-wixth reeiment Na
tional (luard of the State of New Y'ork, receiv
ed a telegram on Friday night from Inspector
init ial Mi i (uade to hold himself in readiness
io proceeu to wan street ii necessary, xne
whole regiment remained at their armorv, in
Court street, until die order was countermand
ed. It is believed that the suspension of the
Fisk and joujd lerty are mere ruses to gain
time, and that nearlv all the faltering firm will
on Monday be prepared to meet their liabilities.
oorxn, nsjc ao.
The New Y'ork Time money article Is vlir-
ous in denuncistion of the alleged ''iiould-Fiak
miquitiea, and savs :
"The whole iexty have gone up. The bro
ker of Fisk, Jr., and his former itartner, I failed
snd cleared out of the street before. 4 o'clucavr-r"
The house of May ( waa, In Broad street, chsied
their doors Is-fon- their hank account were made
good or their satilenient of the dav in gold and
WWeh amend m en ri were adopted, when
all the resolution passed w iltiout a dleaeitt
On motion of Wm. Mhull It waa
Unsolved, Thot the pmeeetliuga eit thla
meeting he published ill the Raleigh Senti
nel aud .Standard, aud the Charlotte Deuto
The meeting then adjourned.
. W. BRI'LEY- Chairman
Jho. R. Houukc and W. W. PKai;i,
Mis A j,
NtTn A large number of leading He
publicum partieipaled iu this meeting.
Tho people groan under tlie burden of
taxation heaped noon them wo are de
termined tbey shall not loan sigh' of the
hand that pile the harden on. Look at
the lollowing facts :
The aggregate of the State debt on
which the people are required to pay bi
terest this year, hi about $35,000,000
The interest on tbi sum is $2,100,000.
The expenses of tlie State government for
tbe year are, and will be, at least t00f
000, not a dollar less, probable much
more ; tbe county and city taxes of the
entire S ate cannot fall under $500,000
more. We any nothing of school tax, oa
there are no common schools ; yet then-
is to be a school tax, say o! 200.000.
1 hen tbe annual tax account of North
1 arnlina will stand about thus :
Interest on Bute debt, 12,100,000
Current Statu expenses, 500,000
Current towu and county eip's. 500,000
School money, 200,000
In High I'olnt. on the3tst ult.
A- Uray f Winatou. aud
Ia New hem. on the .'MM, lilt.. James W.
Moore and Miss Sarah J. Uord,.u.
In Laneoeter. Of) the ".'Id ult., Mr. H. H.
Cooeh, Jr., aud Mis Mary ! Mrlltvaiu.
eldest daughter of AudicM Mcllwaili, Ks(.
Id Rtcblaud County. S. ('.. on the I. "nh
ult.. Mr. Q. T. Wade of Lnuraater, and
Miss Anna Bookter.
Iu this county on Stith Sept by Thomas
Karuheert. Esq.. Mr. Abraiu A. I'ool. to
Mrs. Bettle I'e.uc
At Olin. in Iredell Co.. by the Kev. Jus.
V. heeler. Sept. 20th. Mr. Johu B, Pad
dison, of Point Catwell, New Hauoer
c..., to Miss Mary Alice, daughter of 0. G.
A Clergyman while residing iu South Amer
icasa a missionary, discovered a safe and sim
ple remedy lor the Cure ol Nervous Weakness,
Karly 1 y . Disease of the Criuary and Hem-
Inal Organs, and the wh'de train of disorders
brought on by baneful and vicious habits. Great
uumberi have. been cured by thin noble remedy.
Prompted by a desire to benefit the afflicted
and wn fortunate, I will send the reripe for , re
paring aud using this medieinn, in a sealed a
velopi'. to any who needs it,' w of Vkmtgn
address. JOSEPH T. 1XMAN,
Station !., Bible House,
Oct 1 m New Turk a
It was not until 11 o'clock that the compara
tive monotony was broken ; lo0 was bid. The
bears began to wince.
"Hell's to pav now.!" shriekerl a erav-hairetl
I j . i.. i i . .t .
... V t man, uppaiciiur ourinm over wun affonv. v
e were iu favor , hundred
the little fountain, and an infernal seriesof yells
tilleil the room. To an outsider it was imp.i
blc to di-finmiish either a bid or an offer. The
bulls had now licgiin their irrnrnl charge. Thty
swept the liears n. lore them like chaff. From
15oJ the metal suddenly jiimiK-d to 155J. This
was unprecedented, fim. Iktbii to rave and
shriek like mail k)ga. They rushed about the
little fountain in paroxysms of fury. The spe
cial wonder wss that in the anxiety of the liears
to sell and the bulls to buy, so little regard was
paid to the last n -n d quotatiuii. Price on
both aides seemed "no object." Men within a
favor of conferiug upon them all the politi- 1 km. ,fV" r one ""her diffend widely in prit-t-s,
, - i it is I -' "tiv a uiis. u un.ui in tiiiui.tin n
Cill rights iiud .Jinvilet'es . that ciui be don,, lt, , , . , . . tU?
--tryTntn tne weirare arm gnreTy rjfrTrfvtrs ifillichsT inTTgrrttip", '"srfirppc,! J."l
ssssncsi an nirn. I ne mils -houted with jov.
WiUiin 1 1 -'te. n niinutes the premium wa foreed
up to lo2j. The near sohi very readily to their
own clioue at l.Vi, when the market rate was
KiO. Tl ley i, fu-.-t to std I to bulls at anv price.
Much of this traffic among tlie bears might have
been "washes," or aV-titiiais sale, reported at
figiine below the market, and to keep down the
Such was our position in the two canvasses
that have oceured iu thia Slate since the pas
sage of the reconstruction acts, aud we see
nothing to regret in the course which we
pursued. We were not at all satisfied with
stock had even been formally adjusted. Both
concern-1 are said to have left their immediate
broker in tlie gold room in the lurch, and some
eases of very hard usage are reported, resulting
in four or nve taittircs, the exact complications
of which were uot known at the close of busi
On Friday enormous contract were made
by the riug through one or two of their broker
in the gold room to take gold for Saturday at
1 GO per cent., which, of course, fall to the ground
from present appearances. Their leading bro
ker, Mr Albert Speyer, made a sieech to the
room in the aftcrniion, in which he surrender
ed Fisk, Jr., and Belden -as his- principals.
Whether this announcement will help the sel
lers deliver the gold at the price named, or turn
them 'over to i'isk, Jr., for their differences,
must be determined by the ettlcments."
Smith, Gould, Martin A Co., have satified
the prominent bankers of theiriierfect soundness.
They have a suridus of over $il,'JOX,0U0.
Crugar II. Oaklev, a prominent brokeer on
Exchange Place, who bought S.'$(X),000 in gold
at ltiJ on Friday, paid his cheeks for his pur
chase without lliiiciiing on Saturday morning,
loeing $'J0,iKJ0 by the operation.
REPORTED ai'IClDI op A GOLD BROKER.
A German broker, a -hose name is suppisied to
lie Mahler, committed suicide on Saturday
morning, at No. l.'l South Sixth street, near
Hunham Place, illinrastmrgh,- by shooting
him-ell' throuth the head. It is said that this
H.Tbon ht heavdy by the gold decline, and the
Its, preyed so heavily on his mind, that he de
termined to put an end to his life. He leaves a
wife and four children.
(Fr.oa tlws L'nurlolU. 1 1,- ,-i;il . I
PUBLIC MEETING IN WATAUGA
the New York nominations in July 158, nor ' f"0- m,K of smaller lots than the big
rf . ...I. o 1.1. I !.! .L .1 I ..II A
'villi that part of the platform wl.ieh related
to reconstruction we meau iu a practical
point of view. Wa were for accepting the
reconstruction policy of Congress, outrage
ously wrong as we believed it to be, because
we regarded it as inevitable, t hi such a
platform which tct'Mfeethe next Democratic
platLrin in relation to reconstruction, with
Judge Chase as our candidate, success would
have been almost certain. Without it we
ever saw any hope of success and were uot
in the least disappointed in the result.
We have always found the Journal fair
and court .-on.-, and we believe it will set us
right iu its columns.
speculative block which the bulls were after,
a hiking in Li. movement.
Thus stood matters when Albert Snevcr, a
..1 ... . .L- L..1I- .1., .'.i '
Wc admit that a a utilitarian and financial
xljiicatioH vJ.a-eecr of the Foreign measure State repudiation would work a great
There were statesman and men of honor relief to the people of the State. Vo shall con.
n uionsl coun-cX in those day who well aider that subject hereafter and endeavor to
' show that the price at which such relief can- be
purchased h much greater than the people of
North Carolina can possibly afford to pay for it.
At the same, time we shall endeavor to show
jtfla! the debtof sixteen milmonsoj' doli.ab.,
created by the present legislature, can be gotten
rid of without a resort to tho crime of reptniia-
I-- ma 1c betaeen the original ladders and their tion, and the people be relieved of nearly three
s ignees; and that a of depm iaon be j fourth of the enormous taxes with which it is
P'i-pared accordingly Vthat the highest price proposed to burthen them. .We believe the peo
whirh the certificate had horns in the markets j pie are willing to nay the anti-war debt of the
Sriuld U ptil to the present, and the residue , State, which exn be reduced more than one-half
Will tlie present legUlature adjourn sine die
at the close of its next session, or -will it attempt
to hold over for two years longer? This ia a
question in which every tax-payer in North
Carolina is deeply interested. Already we see
that tlie right of the present. Assembly to con
tin ne its sessions until 1873 ia being urged
through the column of tbejStandhr! by a cor
respondent ov& the signature of Spartaeu. Ilia
argument has the. meiH of some ircenuitv, but
it is utterly fallacious. The provision? of a sin
gle section of the Constitution dispels it. In
section 8flk it is provided that aij election for mem-
ber of the legislature nhall be' held in Aegust
tsvu. in tnc taceot tni manoatory provision we
cannot' believe that a majority of the members
wJtl vote in favor of th,- proportion. We can
not .doubt Unit at the close of the next session
thl lepfctfltiire will adjtfttrn (fn , and. that we
shall elect a new one in August 1870. Even if
a majority were disposed' to 'ptirsue the other
eonrsc ihey, would bedvteeteil- by public opiti
sajp Never in the history of American legisla
tion has any .body evtf mtulejlaell'lialf ao odious
to their con-tituents as has the jiresent (reneral
Assenibly in North tjtruUua, .. Already th peo
ple, without di-itinotion of p-irty, have commen
ced holding meetings to denounce the proposi
tion to perpetuate it mil Itl'l. See the pro-)
ceedings of the meeting in Watauga county
which we publish to-day. If tho elliirt is ikt
sistcd in similar meetings will be held in every
county in tne rstate, rur it is almost hoping
agaiust hope to hope that when it meets again
the legislature will remedy the evils of tlie ruin
ous legislation of its two first" sessions. It will
doubtless manifest a somewhat better disposition
under the utterances of public sentiment, but it
can never gain the public confidence. And even
If it does act more widely hereafter the opposi
tion to its mntininmi- will not abate because of
its maniient unconstitutionalitv.
leader among the bulls, threw among the raving
mob the tempting offer of 160. Such a marvel
lous bid, coming from a dealer known to be ful
ly responsible, startled the whole room, and for
a few moments uo response was made. But be
fore the , tbuderstruck auditors could regain
their equipoise, Jame Brown, an equally well
known broker and agent, offered to supply Mr.
Sicyer's want with one, two, three, four, and
up to five millions. The prompt acceptance of
mi oia, wnue inc. oeara were selling at I'm,
gave the bulls renewed confidence. During the
two minutes preceding this bid, the market
price had stood at 1(12, 162, 161, and 1601.
1 his wavering is easily explained. A Dromi
nent bull, while within bis office watching the
telegram Irom the gold, received a private dis
patch from Washington, informing him that
Boiitwell would positively sell $4,000,000 to-day.
This instantly paralysed the bulls to such an ex
tent that the price fell to 156, and then to 150.
The next bid was 48. then 44. and finally 40.--
i lien dismay seixed the members present, for
the decline meant nothing leas than the ruin of
ail concerned in the ring.
The bulls had gone into the fight fully pre
pared to tale from $10t000,000 to $20,(kh3."im)
So aerts one of their clique. Thev had not ta
ken 97,000,000 when they heard of Secretary
Bout we IPs notion. The rapidity' of the move
ments and the magnetic influence of the gold
room was too much for them. Their heads be
came giddy, and in a twinkling they lost con
trol ot the market. The 4,000,000 threat of
Boutwell's was but a ttea iiite, but thev were
fearful that his movement was-a predwcerteil
one, and that J.OfsO.OQt) would be thrownnpon
them, if in ce-si.i v. m .-ru-li the market. It wa.
not -until the rate grounded at 1 In that they ral
lied, dt was nearly nAou. Cold in i
to mount tire stairs, 1 1 L sprsrajf from 1 40 to ToO
afa single jnrnp. The bears acted as if a'' flash
of lightning bsd passi through the room. Bed-
i-i ... i , ,-- " .,, -
ijam.again oroae i.ixwp, ine rriom was filhKl
with shrieks and cur-.-. In another jump the
metal struck Mo." Al this point Iuucan, Sher
man & Co., let the. bulls, have a large amount,
inu tney hkjk it in seeming eoamdenoa.
' liE9PEHa.Tfrt?t AND MADNESS.
gain raiiw the Washington rumor, and thin
time, it was said , direct from the special treasu-
J "S"". "i "us cny. tt wa asserted that ti rant
had ordered Boiitwell to sell the gold, and that
he would order bim to sell $-iO,0O0.000 if neces
sary. Away went the market in another grand
crash, and never recovered until it touched 138.
In the street it went lower. The birlls were
ruined. Men were maddened. Speyer grew
crary. His eves seemed fixed in despair. He
spoke to hift Triends in a husky voice, and rush
about the little fountain as if in terror. At
length he raised his hand and shouted hoarselv
to the heated, struggling mas I .. low him. This
extraordinary spectacle nearlv silenced the on-
erntors. Ill a few words Spever accused some -
Pursuant to previous nofwo a very large
niimher of the eilirens of Watauga assem
bled at the Court House on . Monday theOtl
of September. lfwS9. when the following
proceedings where hud :
On motion of I). B. Dougherty. Esq ,
Uapt. U. vv . ifradley was called to thi
Chair, aud John R. Hodges and W. W
Pressnel were requested to act as Secreta
The Chairman on taking his seat briefly
explained the object of the meeting, a- will
be understood hy the aecompauy resolutions
On motion, tliH Chairinain appointed a
t ointnittee to report business for the consul
eration of the meeting, consisting of the fol
lowing persons : l.l B Dougherty, Win Hor-
ton. W r Shuil. M f Whittington and Jur
During the abaence of Coinmitte, the
ineetiug was well entertained by E M Far
iner O W Bradley and Mai W H Molone
At the conclusion of- the u hires of the latter
the Committee returned and reported through
their Chairman (Wm Horton) the following
WitKitt s. The people of the State are
now greatly oppressed by an enormous tax
ation, resulting as we believe from unwise
and reckless legislation ; nnd Whereas, We
are of opinion that much of the legislation
of the last session waa in the insereat of a
certain combination of capitalists whose ob
ject was to speculate in the Bonds of the
State, and thereby amass huge fortunes at
at the expense of our already improverished
people: and Whereas. We are of opinion
that without an early change in the admin
istration of the policy of the State, that our
people are doomed to ruin and bankruptcy ;
Semlred. That we ' hereby, without dis
tinction of party, denounce much of the
unwise aud ruinous regulation 0f the Gen
eral Assembly of North Carolina at its last
session; and We hereby express ou,r opposi
tiua to nil the ext avagant issuing of the
lloads of the State without any attempt to
build the Railroads fiir hich they were ap
propriated and that the conduct of a majori
ty of the Legislature merits the scorn and
indignatiou of the people of the whole
Heolpd That we hereby express pur de-
tei uiiiie.l 'opposition the eflorta of certaiu ex-
I Hinders of the Constitution to perpetnate
the existence of the present Legislgtare for
the tern of four years.
Resolved, That we express great surprise
at the present enormous taxes b.-i ng gather
ed from our suffering people, and that we
pledge our efforts to elect suoh men as will
go actively to work for the relief of the peo
ple from this terrible weight of taxation.
Nemlred. That we condemn the practice
of all high judicial functionaries of this
State dabbling in isjlities.
These Resolutions leing nnder eonsidera-
Uion. the following additional resolution was
It requires thla sum of money at least,
to get this "loii" State government along
thm yea. Header, UaV payer, yott khdwf
how hoary your taxes bare bceu tins
year, what will you think when wo tell
jou that you hare uot paid enough to
meet tbe above demand, by at least eight
hundred and fart) titotuand dollars I for
there is nothing ye. lo pay the Interest on
the old State bo win with, and you wil!
hare to pay that much more next year,
as well as whatever school tax may be
levied, in addition to tclut you liave paid
this gear ! This is certainly true, unless
the State gorcruuicnl iutendt to repudiate
the old 8ute bonds, or to refuse to pay
the interest on them.
But this is not all. The Federal gor
crnment is collecting, and will continue
to collect, at least a million of dollars from
the people of this Sute, in the way of
Revenue, null even this amount may be
increased next year, as there is great pro
bability that i tax of one cent per pound
will be laid on cotton at the next sessiou
I-t the people consider, that they nrc
thus taxed and impoverished and ruined,
to sustain a sot of graceless scamps in of
fice, who are alike incapacitated to udiniu
ister a St ite government, and corrupt ut
heart. The figure, we give illustrate fine
ly "loii," "carpet bag" rule. It is strange
that tin: plain working men in tlie Radical
ranks don't cry out uguinst the moiiBtcrs
who are thus eating out the substance of
the land. Indeed, they are crying out
iigutiist them. We hear the, anathemas
deep and loud on every hand. The best
..-" i.t il... veo.1.1 Mg,oiit Radical mis
rule a' u exiiiivagaiice. arc the Kitdiral
collectors ; their speeches are telling pow
erfully. - Sentinel.
NKW AD V KltTlSk'MhM'l 8.
HALT ! !
BACKS IN STORE
LIVERPOOL, (820 lb. weight.)
in Liverpool Sacks.
For sale by
0. G. PARSLEY A CO
Oct. r, iw.
ASSIGNEES SALE- CTotice
is hereby given, that I will sell at Public
Auction, at tbe Csuirt House in tssKsluu , on
Tuesday the 26th day of October. 1X9, tlie fol.
lowing proper! v, lielonging to the estate of
Nicholas L- Williams, Bankrupt, vir:
I. Stid Bankrupt's interest in atiact of land,
containing IMiuci'cs. situated in Allcghain coun
ty, on tbe waters of Brush Creek, known as
"'William's Cabins." This laud bus been levied,
on to satisfy an execution in favor Peter W.
II. Said Bankrupt's interest of one-lliird part
in remainder, after the life e-tate of ilary ti.
Williams, in a tract of land situated in the
County of Yadkin, on the waters of the Yadkin
Rarer and Panther Creek, containing 803 acres.
Terms Cn-h. JOHN S. HENDERSON,
Oct. 5, lrt9. Assignee.
THE COUNTER REVOLUTION IN
Our nes from Spain, says the New York
Herald has really liecoine alarming. The
outbreak iu Catalonia iu two different pro
vinces omvinces usof two things first, that
the people are uot with the governmen, and
and, second, that iu the south" of "Spain at
least the popular sentiuieut is republican. If
anything were needed t convince us that the
situation ia critical, we should fiud that one
thing iu the jealousy which now exists be
tweeu the government and the vultnteers.
The voluuters were coaxed and made much
of so long as they were on the government
side. Mow, bowever that they are known
to be opposed to the government, they are
being disarmed. The volnuteers belong to
the people. Ho long as the petiole were with
the government the government could count
upon the volunteers. It ig safe to conclude
that the present movement is at once pop
ular and republican, A grand reoublican
demonstration is arranged for to morrow iu
.Madrid. 1 lie news of that day will be rnx-
ioualy awaited. Meanwhile the great trouble
is that Spain is not united on at.y policy. It
is a hotbed of division and strife. The south
is generally republican. The great cities are
liberal, but go iu for strong government-
A large portion of the rural districts, in
cluding the Basque Provinces and a majori
ty ot tlie clergy, is larhst. Nor can we
deny that in parts of Spain Isabella has her
partisans. If revolution breaks out the im
mediate 'csiilt will be a scramble, and the
presumption is that Spain will become a
,rey o consuming anarcy.
AK2IVS Cod Liver Oil,
Fresh mid of perfect purity . Where this Oil
is best Known, it is preferred to all other
very extensively used at the North.
ODER'S German Efniment
A most valuable external application for
Rheumatism, dc, as well as for insuy at! el ions
of that valuable anin.ul, tbe Horse. Indeed it
has become a household article v herett-r il I. as
Tnese, together witlin very general supply of
fresh and genuine Medicine-, al greatly redii.nl
prices, compared with the old rtgime, uni) ai
Wuys be had al
E. SILL'S Drug Store,
Oct 8 2t Salisbury, N. C.
Worth Carolina. Supkuiok Cut k-i
j Term, IrHiiL
OCT. 8, 1869.
RKrOBTKP BT J, A . necoNNACUHH. OBOISR.
oU'ce, per pound.
Corn, per hush, of 56 Ihs.,
Meal, busn. 4
Copperas. per pound,
Candles, Tallow, 1 "
Cotton. per poaad,
" Yarn, par banrh,
Kgga, per dosen,
Flour. pel sack.
Pish. Mackeral, .''. 1.
i " 9.
unknown person of an attempt to assassinate ' offered by K. M. Fanner. Esq
him. "He is after me now with a big knife V
shrieked Mr. Speyer. " Look, look !" he con-
. I , . L .1 ft . M. . ..
umieo, uon i you see um anue : as it was
JesoIred.,Tmt in the opinion of this meet
ing four dollars per diem is enough to allow
members of the General Assembly, and that
evident he was craxed, he was placed in a car. (the pay of all other salaried officers should
. .o o .,,.-, , ,, . lTlr i-iiey- radnessl in i.rooortion
er was not the only one made momentarily era- j
And the lollowing ainendmeut being of-
I 7 v f Ine of Hi,, mi,m W IM of I Iid mam , w. 1
Blackwood' M . azim: for September the reporter that under the undue excitement he 1 ,v ( W,n- Horton. to-wit :
is on our table, and is as entertaining aim' fcUbw ,v,n,? W"T' nd,t,k a Mat!
-iaJ.. e .a "vcnuo "P nroaoway as tar as t anal s
lUtvirctiiiK eBBsrweaa y x' ..! s x. eavi t;i- a.-
tides ou the Lost Preterites, Mr. Mill on tbe
Subjection of Women and winding up with
the intei est which we usually read the beat
articles of that Pericdieal. Address the
to recover nts balance,
HE ROBS or THE FIOBT.
During the day lamee Fisk, Jr., was knock.
ed down by an angry "bear. Among the indi
Rrmleed, That the preseut Constitution of
street i the State as we believe, having pmren It
self inadipiHte to the wants andx wishes of
the people of this State, we. therefore, re
commend that a Convention be ealled that
will give us the oldC'onstitu'ion. or as near as
viduals and firms reported as engaged in the mayfW. so as not to eonfliei with the Fed
Leonard Scott Pub- Co-. HO Fulton street , clique are WilJUra S. Woodward, who is ns lent I - Cnastituti. the neeeaearv ehnge
ported to bs tbe manager in the movement ; : bronght about by the results of the late war.
Fruit, dried, apples pealed,
m Peaches, pealed. ,
" " , iiniwsled. .
Leather, upper, per pouud,
Iroa, bar, - "
" castings, "
Nsfls. cut. "
Molssses. snrclinm. per ga
" West Indis, "
" Syrup. " .
Onlnns, ier bushel, r .
I'ork. per isiunil. , .
Potatoes. Irish, per bushel, .
o Street, "
Sugar, Ttrown. psr pound, .
" 'i-uslip.l Pulverised .
Salt, coast. per ssek. .
" Xairerpaol, " .
TobaeCo. Maf. fisrpoiind. .
33 to 38
t 40 to I aA
1 40 to 1 46
It) to 00
90 to 90
34 to. (Ml
94 to 26
9 00 to 3.95
19 to 16
j to 4o
3.76 to 4.96
T. C. Hauser. Ex'r.. of Win
Elius Hayues and others. Defeiidauts.
Special Pfoceeditig. Pttition for Settlement.
In this rase it is made to appear to the
satisfaetiou of the court that Thomas Mackie,
Martha Mackie. Elizabeth Mackie, Jesse
Makie, Sarah Mackie. Klis Mackie. Hiram
Martin, and his wife L'ulhaim, Milas Reese
and his wife Rebecca. Sylvester Reese, Henry
Shore and his wife Mary, are non-residents
of the State: It is therefore ordered by tho
court that publication be made iu the "Old
North State " a newspnjier published in Sal
isbury, X. C. for six weeks successively, no
tiftihgthe defendants 'to be and appear at
the nest term our Superior Court to be held
for the county of Yadkiu, at tbe eourt house
in Yadkiuville, on the 10th Monday lifter
the third Monday in September, ItKfll, then
and there to plead answer or demur to the
petition tiled by T. C. Hauser, the executor
of Win. Mackie, asking for an account of hia
administration and a final settlement.
Witness, X. A. Martin, elerk of our said
court at office in Yadkiuville. Sept. 22d.
IS. J. A. MARTIN, c. a. c.
w (pr fee 10.)
Worth Carolina, ) st pk hkk Coi'rt,
f. S Spring Term, 180V
Martha J. Houard,'Plff.
Alfred M. Howard, d'ft
Pet'n. tor Divorce
. a vinculo
on to 70
100 to 1.90
Q to 60
10 to J9 I
60 to 76
100 to rOtr
is tu I .
18 to 90
90 to 90
9. SO U. 3.00
5. BO m 6.00
) to i
40 to I .IS'
Iu this case it is made to appear to the sat -si
fact ion of the eourt that Alfred M Howard,
the defendant above named resides beyon I
the limits of the State and tha tMartha Jauo
Howard. Plalutlff above named, hath a emal
cause of action against him: It is therefore
ordered by the court that publication be made .
in the "Old North Slate." a newspaper pub
lished in Salisbury. Nv. C, ftr sis weeks suc-
eesaivery. notifying tbe defendant tfiat he bo
and aptiear at the next term of our Sune-
rior Court to bo held for tbe county of Yad
kin nt the Court House in Yadkiuville on tho
Mhh Monday after the 3d Monday in Sept.
ISt9. then and there to plead or ntiswer to
said-pettitrm ft divorce filed in the rilBee'iff
the clerk of said eourt. otherwise judgment
pro confesso will be entered and the caso
hear. I exparte.
Witness. J. A. Martin, eleik of our ssid
court, at office the 10th Mmda after the Ikl
Monday m April. 1869.
Issued 2d day of Sept. ISfjfJ.
J. A. MARTIN. C b. r.
6w pr fee t!0)
TSACBSE. ..THE CNDERSI0NRD
J. wishes to obtain for his sister a lady
who has had several years succewful expert
once a situation to leach, in a family or oth
erwise, the usual branches of an English edu
cation, moic rrtt included. Addres, stating
terms. REV. JOHN H. TILL! SGH ART.
3821 ' 8!isury, N. C.
D. T. CARRAWAY,
Dealer in (Broccrics
Class and frotttry Warr, Will Paper. Win-
dow Shades, 4f tfc
I ROM IT attention r vn to order., and t
the saje of Cotton, drain. Xaval Stnres, T"ta
co. Dried Fruit, Ac , on Commission.
COURT HOUSE BUILDING,
sprilO M ly -VEWBEK.V. y. c.