in
RALEIGH, N. C. WEDNESDAY, OCTOBER 4, X837
VOL 2ZXVIXI. no 41.
TIIO.TIAS J. LEMAY, ,
0 ITOB AX P TROPH lETOH.
' .'. '""" ' ' . TERMS., ' ;
rttirTioi, luiwe dollar per annum on
half ta advanae.
mym-- iMiiK,i.ihwUh JMtf.fRlU.Jw
o.rea to pay e ! amount ol the jearl
"iTK.S OK ADVERTISING.
For every sJre (not exceeding 16 line this
size type) r,t hrt'on one dollar each tub
sequent insertion, twenty -Br cent.
- fhe advertisements of Clerk and Sheriffs
sill be.eturard 45 per went. Inglieri and a de
duction ol 3 li per cent, will be made from the
regular prices lorwilvertisers by the year.
Letters to the Editor mutt be post-paid.
AltCIIEIl TEJVCII,
Watch .linker, Jowcller, Silver
SuijUli una Engraver.
Reipesifiilk informs the
citizens of Kaleigh and the
tiuMiR, tliHt lie on
hand a ei'tnlileie assort
ment of JKWEIXERY
i.d W atches, it m
hurst tpa HtTrerceted j
himself alone. In addi
tion to (lie above, lie has jut reeeired from New
Y u'k, a Urge and extensive a-sorlratnt nf I'F.ft
FUMKKYt enntutinj of Cologne, Florida and
La-eiider Waters, the Esprit D'Knse, User's
&if .Maeaiw Oil. and a vhritty nl other Per
fumeries To (lie Ladies anil" Ceiitleroen he
ftrd-7rhtelrti 4t-laa-madiii.
Ihe oderilef-oos compound or Persian bweet 3k.
preservative against molhi, adupted to the
vardro'ie, the reticule, the bureau and (be work
So, or a, iha I'oet hvi- '
VU'n i the talisman wtikh charms
-From l'eriia-Wynrph-hnund-harrn t.
Ann trees Irnm inotliS'tlie tmletseells '
And wardrobe of our bouilicrn Bellesi
WhOM) bureau! and superb boudon-a
Wot k tables, bags and rsciiloires,
Supplied with this, anicli odorous breath, ,
As .cent the garlands which they wreath
iwcrtneM Mich ai morning uew
Drawn from the pink's earuatinn hues,
- More greielul than the air which movea
The leaves of fair Arabia's groves,
Swet as III spicy breath ot fliwers
Wen gem'd by twilight's sparkling ilioaert)
' Lik amber on Ihe flowing thyme,
Or Persian roses in their prime. .
X. H 4 large and splendid ACCORDtOX.
tub Cut and sharps, adapted to any tune tor
pie.
Thankful for patt. furors, he hopes to merit a
-naiinuanec of-thVaawet-and- all Job entrusted
to his care will he attended to w at la puuutuality
nil depatrh.
Raleigh, Sept. I J. f 3t
State of North Carolina,
AsiIK CoUKTY.
Court of 1 Tints ariJ'tyuarler ttessioni,
August Sessions, 183". J; 1 :
William Phinus . "1
,' ti. I Petition, for damages
Zebeilee Wood, p in consequence of e
ilames Hash, and reeling a Mill.
Christopher Reedy ; J L ...
It apparingtn the satisfaction of the Court,
list Zehedee Wood and Christopher Keedy, ate
cv inhabitants of Ihi Stale) it is ordered that
a rti fidnlirm, fur flre-werk be- made- in the -ll
cigh 8tar for said delendanis to appear at the
(wit Court of Pleas antl Quarter Sessions of
this county. In be held at the Court-liouse in
JetTson, the Vli Monday on Nueembrr next,
. ti answer Wid peii(iop,.or Judgment , wjjl be la
len tonfetm. as lo them.
1 Witn.ss, John lly,CI-rk of Uiraaid Court,
t JeRersuo the 4th limilay in August, IS J".
john H 4 Y, ;. t; c,
'' lly U. MUUCIIlStJN, l. C.
""Sjl-Jsf
4tatstaorif caroihiar"-
, liertie l oun y Court,
f Augiikt Term, 1S3T.
j Bi-itton St Co. ")
R O. Bo.r.im.' k 0riSiD, A"n,ent.
Charles Nohle. J I
Jonathan HI' Webb summoned SI Garnailiee.
It anuearine to the satisfaction of this Court: I
. jthat the defendanta are not residnts of this
jStatet It is ordered, that publication be mad in
the Italeigh Star (or six weeks, lor the defend
aula to appear at the next Cmintf Court, lo be
. held at the aonrt-hnuse in Windaor, oa Ihe se
cond Monday in November next, an J pleai(,
answer, wr demur, or judgment ro confetti
" will be entered np aaiust them. .
Ciren under my hand and seal of office, this
'i J 1th day or September, 18.37.
-1 -.- SOU CHERRY, Clk
39 6w
'
; ' rjM.5f.VSa. oils. At. m
'' ' TK subscribers ha jutt reci-n ed from the
North, a lull supply of the al-i-ve articles, eon
isiing of
- Vii luteLeaJ : ; '
i-Uw do. tinun4ioOil
1 lied Lead
Spanikh: .Brown , , .. L
lh do Ground in oil
i YeHow Ochre
' Ho do Uround in Oil
A'enetian Red
Terra Ho Sienna ' 1
: Lamp UlMk ; .; ,
, Turkey Umber , v
; spirits Va: pentin
Linseed Oil y
Copal and Japan Varnishes .
All ot which will be sold on reasoi.aMeterm
T S HECKVVITII h CO.
i Kaleinh, April 13, - : 16 If
-m UJUigJJLJl!l.J '
ITCAJOEE DOv.no.
r, From th,Vvr .York Exprea. '
; We regret to notice that our types
did injustice to the Major' last. The
SfWi'il glaring affile errors committed,
Itowever such an i "four day go,'
for our years aso" we presumr
M ould be immediate! v Boted br the rea
der as an errortn prinjt tortha Major
tever makes mistakes as to dates anu
. facts,-f unless they be wilful ones.)
All we can say about it is, if any fu
ture oversight on our part should draw
from the Major as good a story, by
. way of episode, as is contained in the
following letter, w chm't regret it: '
- Nigh th -wreck ttht TV Ptlliet, -15
KoccaWAT, U 1., Bept. 10, 1837. J
V th Editors tht Xtw Trk Dailf Ex.
-' "' '.. ' .... . ; prUSt. . '.' ' : v . - .
- ' I got one of your papers in which
o printed my last letter to 'Uncle
nam," antl when ream n on't, it was
Tmnate tor you that you was 0
des off for 1 never did see sich ar
nal work as you made of snm parts of
Htv letter, llnwanever. all I've pot to'
(b y about it is, if fo'kswho read my
litters print, find any thing in tn
tl it don't reid jmooth, and ain't cor
19 ct as to dale n5 fcts, they may set
it tlown apn tTie printers. . It was jest
so once with a Jung Doctor, a friend
of mine, in the Colore times, lie writ
a Ions letter once, about how he cored
folks by giving Calomel he writ, "Cat
lomel I j iioses .very mfnue." and the
prinftrfmiVim ' prtr it "daiomei4 in
doses every minute." Up went Calo
mel among the Potlutcarys and down
went the poor sick folks. It warn't
the Doctor's fault for it was all owin
to Ihe printers, and a little ."
Now afore I trust jou with pJher
matters, I'll give you the printin ot a
siory .l've got to tell and you maj
stick as many E's and O's and I's in
to it as you please, and I don't care
what you make on't so long as folks
take the motlitt and barin on't. It
is a story about Umtt- Sam? and
ome of fiis capers among tlie women
folks.
, 'Utic'e Sam" you . know, al ways
wasa Mtiuile kindtf-crtttiiri airtt from
his firt comin into life, never could
it along well without havin his hull
latnily about him, all on 'em givin him
a boost up the tree,' but, 'Unc'e
Sum'; fuund, as most folks do, afore
At . .1. a a . .
iiiey git grav, mat unless he took a
wile tiiTake care oTTiis buttons" and
keep things slick'd up about house heMaupe must pay the fidiller,' says I,
would git into trouble' and so forth. 'Uncle Sun. 'But' says he 'Major
seem a gnoU Ueat or. trouole one way
and another, betook advice some 20
anu oiiuiner, tic iuux nuvicc aume su.o" u m.ii un
years ago, and got married to a smooth Jcrim. cnn. j that's
quiet quaker Lady, worth 28 millions! ' Well ca;i," ?a
of dollars antl as Uncle Sam was con-
side aMe 4tr bisaye
the family stoJc 7 millions of dollars;
nut in the 're grit? howseVer, but
what he said then was just as good as
'grit.'j and so together they had S5
millions. Well, 35 millions was no
tiifljCiJUillJthings went on smooth and
slick for nigh upon 20 years, and eve
ry botly said, at home and abroad, there
ncvr wasubappier- couple. . Uncle
Sam's wife did all a wife could do, and
tho' Uncle Sam would once and a
while, swell vp and talk bi, his wife
said mttliin, but kept stitchin up his
breeches when he'd split 'em, am
on buttons when he twitch'd Vtn
il sew
in off.
But by and by Uncle Sam got inixin
up with odd company, antl among oth
er things, got a kink in his head out of
fanny YY right s doctrines, that a man
of so much importance hadn't ought to
stick to one wife, but have as many as
the greut Mogul. 'I swow,' says "Un
cle Sam 'I'm a good mind Jo by it :.
and so he talk'd to other folks about
it, and to rights the gals got the no
tion too; and then Uncle Sam got one
Amos Kindle L,ogo ' found and-uund
about, and sec if the galls would stand
the racket and he come bark, and
savs he, 'Uncle Sam, there's no mis
take about ft j the galls are all ready,
a n.d . m orrlhaB.jaali:akea&ti
at;' and sure enough, just then the
galls all havin got the noiton, set to
they praised up Uncle, and abused his
good old quaker wife O shocking!
there's no tellin what they did'nt say;
and among other things they said, that
Uncle Sam's wile was
Pshew ! ! you dont say so ! ! and
marcy on us ! I : Well, the next
thins we see of Uncle Sam was, he
Idok'd as fine as a fiddle rHfiles round
both eends of bis shirt, and siclx a ca
parin aS he rtru'ritrtlbitig"istne'w.''wlV't5'i'
foe a spell, never was seen afore and
sich frolics!! and all his old cronie as
bTrsyas be was among eni, till some
folks begun to wink and whisperthat.
Unne"Samtca aoliberalVi had wives
enuf .'XorJiimself -and - friendav'-!'-Things
went on thus for about three
folks do, when thjey: git too much of a
good thing) 1o smelt and feel trouble;
and jest thcrrrgot bacir ti'om foreign
parts, and I met Unele Sam, and if it
had not ben for his bein my own blood
relation and knowin him and loxin
him, in any shape, as I do my own fa
ther or mother, I never would have
known him at all. 'Why,', says I,
'Uncle Sain, is this your' says L 'I
don't know. Major,' says he 'but why
do you ask don't I look as natrat as
ever?' says he. And there he stood
holdin his breeches up with both hands,
and his elbows both torn out and a dir
ty shirt sleeve-peepin through, t and
holes in his stockins, and his shins all
plastered over. Why,' says I, 'Uncle
Sam, what on nirtli ails you? Come,'
pays I 'give ine your hand my old
Iriend, and let es talk it all over to
gether.'" 'I am sorry, lajnr.' says he,
'I can't shake hands with you jest now
my hands are busy, says he.
What,' says I 'holdin the money aye.
Uncle Sam both hands full, as usual,
says I. 'Not exactly, Major,' says he j
and with that he cum up close to me,
and whispered in my ear, "I am in a
'bad box,', Major," says he,! have
rot so many wives, I ain't got a but
ton left for my suspenders they are
all oHl ' 'Do tell now,' says I, I want
to know!! J' 'It's true,' says be and
you may aee for yourself.' And with
that' I look'd and surt enuf, tbere
nevei was a man in sich a pickle.
Well, savs I. 'Uncle Sam.' this
comes from folks gWiri tou bad advice
nr rather hv vour not takin erooa atl
vice." You Ittrget, says-lr-one lact
and that i, that it was intended tlwt
your family matterajdiouid be regela
ted on -the same plan of every other
well regelated family and that tho'
yours is the General Government fam
ily, it was intended to be regelated
jest on the tame plan as the family of
the humblest of your masters 'and
tntng in, tne oegtnnin. AY hat mas
ter?' says he, spunkin up and tryin to
swell ('but takin care to hold on to
his breeches) who are my masters?
sayshe 'Your , masters?' says I
V"hy 'ihe people'tad I am one on 'em
Uncle Sami and if you had Ktock to
the rule they mde for the rerrelatinz
of your family, you would nut now be
in your present condition.'
'Now' says I 'Uncle Sim-there
is but one way that I can see for you
to take and that is for you. to call all
your young women about you and tel.
'em that you can't have but one wife
ami titer must irit husbands each in
their .own States." Here Uncle Sain
shook his head" and look'd con3l,lerab!e
sad 'I. am afraid Major' says he. its
to late 'twas an easy job to get rid ot
one wife, but to git id of so "many all
at once, I am afraid that I shall git
spank'd as red as a cherry.' 'Never
mjnd'that,' sajsj, 'yqu'ijjjit no .morel
"tTian'you'tfesarve if you do," folks that
"mere is no divorce in the matter, you
can't do that unless you can prove
the Law," says I.
?ay s er-l prove
that the Post Office, the Land Office
I, 'Un-
cle Sam, don't talk so, for it is an old
story in all countries, that a man who
has more than one wife, is a bigg-r fool
than his friends, and has more friends
than bullous'. Now dont sav any thins
more about, it. You have got in a
scrape, and the best way is to gif our
on't. You'll find that your young
wives will be as glad to git rid of you ,
as you will be to git rid of them. Bat
you mus'tit talk of divorce, or they'll
bring you to the proof,-and show that
yoa first came a courtin. Antl by the
time you proye guilt" on anv on 'em.
they'll git-yw oir the hip, and ktep
you there ton,' says It 'No look at
your courtin, and compare it with what
it was us a sau cnange,' says l 'un
cle Sam, aint it? howsever,' says I
my old friend you have hail a rare frol
ic, and this is the eend on't and
pritty much the eend of all frolics.'
'Now', says I ..fwe. must .ga.-and..ee
what can be done with the old wife
I'll be bound,' says I, 'she is as sound
as ever she was, and not the worse for
baIhg taken shelter in her old native
State of Pennsylvany. i'ftgoon ' first,
says I, 'Uncle SamrarhdTell' her to git
her butloni and sope ready for you, &
if I dont miss my guessi-you -wtlt in a
fe.Oi:ek94ofcSrlrkaa
ami as she is a good natur d crittur
and likes to see all happy about her,
she will do all she can to provide for
the young women you have been gala
van tin wilh of late", for she thinks $ou
more to blame than thev be.f And
then,' says I, 'Uncle Sam, when all
gits slick'd up, and you git all your
buttons sew'd on. you will have a spare
hand always ready to welcome a friend
or knock down art enemy. At pres
ent, says I, 'Uncle Sam, you are
hnm bug,d? A mi -with Ibat Uiu
cle Sam he twitch'd op his breeches,
and spunk'd up considerable," and we
moved on together.' :
other time.
-Your -friend -
J. DOWNING. Major.
;VY'e .never, .knew exactly bvfute the actual
meaning of tjial wprdylum -bog (L Ed.
It E PORT
From the Secretary of the Trtatury on the
rinaneei.
Taaaacar DinnTwiiT, 5
Saptemhr 6, iHM. i,
( ' CttUinuett.) ., - ''
VI. Settlement with theformer Dcpos-
. i e Jiunks.
Another suhject that appears to re
quire the early action, of Congrers is.
the tur. her indulgence which it may be
proper lo extend to Such of the former
deposit banks as are still indebted to
the UniteU states.
The facts which are supposed to be
necessary to aid Congress in forming a
correct decision on this subject will be
fully submitted, the perils to which
those Banks were exposed liaT' caused
to the department much solicitude for
several months before the suspension
of specie payments, and led to some
precautionary suggestion which it felt
bound to make to them, so far as ap
peared consistent with the usual prin
ciples of banking in this country, and
not calculated, by creating sudden a
larm, . to hasten the catastrouhe that
has since happened.
. . ... .
Besides the general cautions with
respect to the excesses of bank issues,
ami the dangerous consequences likely
to ensue, which were detailed in the
last annual Treasury report,, several,
instances occurred where the course of
the business of some of the depositories
appearing from their return to be in
judicious, special letters of .advice
were deemed proper, and were writ
ten. "A rigid system in requiring ad
ditional specie was also pursued ia all
cases of unusual defkiencyv la re-
Card to the effect of these stens on the
banks, it affords the undersigned plea-j
sura to add, that, from the completion
of their selection after the deposits act
posseOv to the last reiuros their
- .1.
suspensionv a great reaacitott lii tfiernaa previously beentaned" rfomlheiirtoner:to threertheTr" immediate
circulation, as well as discounts of
many of them, had taken place', and,
in several cases, a much larger propor
tion ol specie was kept on liana. In
deed, considering the extraordinary
mount of public money paid out by
them between last November and
May, amounting to near twenty mill
ions more than their receipts durins
the sama period, it is a fact highly cre-
uitaoie to meir pruuence anu auiutr,
that the. specie of all was reduced only
from about fifteen to thirteen millions,
and their circulation, instead of in
creasing, fell from near forty-one to
thirty-seven millions.
" As a whole," 'their specie; compared
with their circulation, continued to be
a' most as large in lay as in Novem
ber. It averaged more than one to
three, or much more than has been c us
tomary with the banks in this country,
ity Iteld by all the banks in England
at the same period, and was in a pro
portion one fourth larger than that in
tfc8Sftk-d;-F
imtnetliate means, compared with their
immediate liabilities, were somewhat
stronger ia November than in May,
but.were at both periods flearlv t to
2Jj:greaUrtbaa4bosBHthn-tTT
the best times, of most banks which
have a Urge amount of depotites in
possession.-
In this condition of things, the sus
pension of specie payment by the tlepo
site banks was an event not generally
anticipated. i
. The policy vnce pursued by most of
them has been lavorablc to an early
discharge of their engagements to the
Treasury, and to a resumption of spe
cie payments. Many have gradually
reduced their accounts and circulation,
as well as paid over much of the pub
lic depotites. This may be more ful
ly seetr-in the tables- annexed. Since
the 1st of May, their discounts, as a
whole, have been reduced about S20,-
383.776, their circulation 84,991,791,
and their public ueposites g 1 5,607,
31G: while their specie has diminished
less than 83.000,000. Of the number
of eighty-six banks employed at the
lima of:tba.suspcJi8wnr ti 4r-elefl
are supposed to have paid over all the
public money which was then in their
possession, to thecredit of the Treas
urer. In the custody of more than
half" the others," an; aggregate of less
than &r00,000 remains unadjusted.
Several of the rest still possess large
win; but many of them hayecjrrjjulu.t
edproinutly to furuish such payments f
from time to time, for meeting the
public necessities,, that according to
the last week!yvfalement, tho whole
balance to his credit remaining unpaid
in all of them, was only 812,418,041.
The course adopted in respect to the
deposites of disbursing officers, after
the suspension of specie payments, and
with a view to safety, as well as to en
courage the earlyregjisnption of such
payments, may ttf seeiti more lully in
the document jHTrtied.r,
It was conslderrtt nwfper to proceed,
and attempt to withdraw all the public
money irom ine (iisconiinueti agenis,
as f:st as it was wanted for public pur
poses; and W'MW anUuifabTe "ileposP
tones could be procured to receive any
thifig obtainable beyontl such amount.
Bat while the former agents appeared
etlorts to meet sum calls, it sceme
Such calls, it seemed
more conducivertTthevcntuat"8afety
ol the money, and more consistent
with true wisdom, as well as the con
venience of the Treasury, to refrain
from unnecessary , prosecutions and
costs till the. early seasion of Congress,
which had been called, In part, for the
consideration ol this subject. On the
contrary, when any of the banks per
sisted in neglecting to pursue the pru
tlent course of curtailment, ami in ma
king no reasonable efforts to discharge
the draf s on them in an acceptable
manner, the department corisulercd it
duty, however Tinpteassntv o deliver
their agreements and bonds to the So
licitor of the Treasury for suit. This
has already been dene in nine casesjin
some as a matter ot precaution, to ob
tain additional security beyond what
bad been given and in others, tttake
the preliminary steps for an action a
gainst the sureties as well!athe priu
cipals. ' '
Some of the additional banks, ren
dered necessary to carry into effect one
of the provisions of the late deposite
act. have, on this occasion, proved the
least prompt and efficient in meeting
, their nb igations. But though the los
ses of a few may be levere, and con
siderable delay may arise in discharg
inr their engagements and though it
has been proper, and has evinced
commendable state of moral feeling In
many of them, to strike at the root of
the present excesses in paper, by cur
tailing Isrgely both their issues and dis
counts, and thereby to make serious
. . . .1! ' - f it
sacriuces yei me conuiuon oi mem
all appears to be such ss will,' with the
collateral security taken in most cases
render the United States probably safe
against any ultimate loss. Consider
in; the wide-snread' nressure of the
times, which had involved some of the
banks, as well at their debtors, in ex-
traordinary embarrassments and that
...a '
only in moderate sums, as neeueu lor
expenditure and transfer, it was not to
be expected that several of thefn would
be able to pay over at once, and in
specie, the whole of the large amount
then in their possession.
More especially was this not to be
expected, when, from the great accu
mutation ofdosites, the specie of all
of them at the time of the suspension,
as well as for many monihs before,
though larger than the proportion held
by most other banks, did tiof equal, &v
viouiu not, wtinoui . maaing a suuuen
ami great i hane in the practice under
our whole bankin; svstem. enual one-
hhlf of their indebtedness to the Gov
eminent alone. It is presumed that a
considerable portion of tho money
since, as well as formerly, paid by the
banks on transfers and drafts, has not
been demanded nor paid in speeie.
,llaLjja..persm4.baeberjureuied.L
to. accept any thing else, nor, accord
ing to the views of the undersigned,
could they be, without a violation of
ine tiralts ot the treasurer for
debts, when drawn on banks and not
discharged on presentment, have, un-
ucr msu ucuoiig iromtnis ueparttnent,
beerrftenOakenuplrriTseTialf by the
collectors and rcceivecs, in order as
much as possible to relieve the public
creditor from delay and loss. New
drafts, when the first ones -were not
paid in an acceptable manner, nave al
so in some cases been given on other
depositories, and have helped to pro
mote satisfactory adjustments.
Since the discontinuance of most of
the banks as depositories, "tfria depart
ment has also found Ihe use of drafts
made directly on receivers and collect
ors very acceptable to the public cred
itors; and by the specie fortunately
then on hand, and since collected by
the jcceiviirs,.. with a.parLof what.--.was
before in the mint, and some Occasion
ly supplied by a few of the banks and
collectors, a large amount of claims
has been paid, anil the Treasury is
ready to pay others, so far as prac tica
ble, at points and in a manner conve
nient to many. But, till the indebted
barik-t-eswmfcvpeci payments, r or in--
croased collections can be made in
specie of what is due from them and
It om the merchants, it must be obvious
that the tleputment, however anxious
lo pay- all -the public credi tors and of
ficers in specie when deinamlcd is
unable tu accomplish so desirable an
1 his is one of the evils inenlent to f
the existing state of the moneyed con
cerns of the country, and which cannot
be remedied unless Congress furnish
additional mcaus, until specie pay
ments are genera ly resumed. Some
intermediate losses, by a depreciation
of bank notes, must, therefore, fall on
those, whether creditors or officers of
the government, who consent to take
them rather than submit to delays in
payment. ,:
Hence it seems highly reasonable
that the government should hasten, as
ffstarptissTbTe," the'TesloratTon'of spe
cie payments, at least by its former
-"--"sfiT" '. a . a - I
l ins wouni put an enu to such loss
es. It also seems proper that those
deposited banks whicb have- not gene -
rally answered the demands on them.
Lu u LJiay ec Qnunucd.ta xecciY ft 1 ulJLl o
teresTbn tTie deposites they had loaned
Toutahouid be-rcquired-ttrT)ay it-otr
the sums still refutne.il, and It om the
periods when they failed to fulfil their
obligations to the Treasury. It Is
manifest the members of Concress,
coming from every section of the coun
try, would be the best judges of what
further lenity or seventy might prop-
erly be exercised towards themj and
Knowing more intimately the causes
ami consequences of the suspension of
specie payments by tba banks in thesr
respective neighborhoods, can dec'sde
with greater accuracy wnether any in
dul-ience could hereafter be extended
to them appropriately, except on thel
condition of an early resumption of
specie payments, and an allowance of
interest uuring any oetay in meeting
iheir fiscal engagements. - With the
enjeagements. YYUh the
h pttblns-money ,-as-n eTIWlftbelTircomtioTt,' 4at tmrlo two, and "
means of information possessed by trieanae11' "ir1 bY. Mr. Calhoun, to
undersigned, he does not hesitate to
express an opinion that it should not
be done without a compliance with
such conditions. As further evidence
of the ability of most of them on thi
suDjecr, it win oe necessary only to
advert to the abstract ot their last re
turns, which has been previously an
nexed. -'-.; - ' " - .- w " ;" ' : -'
From the mode of doing business in
the southwest, by making much of their
circulation not redeemable at home.
but at distant points, and providing for
?. . i . l 1 1 . r i i
il mere oj ottis di escnange, (so ma
ny of which,' during the past season
have failed to be paid,) the situation of
several ol the banks there is least eli
gible, not only for an early resumption
of specie payments, but for a speedy
ana pamiaciory aujusimem oi tneir
debts to the government. ' But in th
western, and probably in the eastern
and middled States, if not elsewhere,
the ability to sustain such payments
appears, by their returns, much great
er than haa -been customary in this
country, iheir specie, compared with
I a. w
means, compared with their immediato '"
liabilities, are over , one to three.
Hence it has been hoped that the ef
forts which the banks were bound to
make would Jead, :irtmdsCf,3ce9, to "
the desirable events above mentioned.
tion usually urged against an early re
sumption, that the unfavorable balance -
of trade against this country would, in '
that event, cause some of the specie in
Ihe banks to be drawn but and shipped, ;
will, however truein point tt fact,pts-
sess much less force when it is Consid
ered that the delay Jiitherto hat not -
prevented the export . or .pecie; on
Hie i cbnlrary,"consi Jerable su ins, wliicK
were in ordinary circulation, have,.'
since the suspension, been withdrawn.
and a portion" of them sent abroad,
while their place is badly supplied with '
depreciated paper. So happily adjust
fidlJlflwm even in their inflaence on the precious
meiais.Mhat while our custom house
books show- an export since the 15th -
!lMjy3niE
France, of g?.r08,320 of specie, they
snow-ouring ,ne same-time imports. .
chiefly from other quarters," of 83,
1 40,020. -Jhou2lijUieactuaUimrorl
ami exports have both doubtless ex'
ceeded thuse amounts since that peri
od, and the ratio of difTerence bs been
somewhat greater, yet the total drain
has been much less than manr have1
imagined, and produced less effect on
the general ability of the country apd -the
batiks to have specie payments re
sumed and successfully; sustained.;
Congress having power to pass a bank-
Tuptlawv irwuld Toe" worthy of consid-
eratton, ii tne power oe ever exercised,
whether all banks, and in any event,
as rccoinmentled br Mr. Da las and
Mr. Crawford all employed by ihe
Treasury, should not be subjected tu
it a pro visions, . ndt a ny im porta n t, -
and deliberate failure in their petunia'
ry uuties, oe compelled at once to '
close their concerns, v
In respect to the. banks in the Dis
trict of Columbia, as well ss othera
connected 'with the General Govern
ment, it see ms desirable that the mea
sure atlopled in relation to them; by-
Congress, should have a strong tenden
cy to encourage the earliest mump,
tion ol specie payments which is prac
ticable and salts. For this purpose j
little duubt can exist, that while those
measures' will be the most " salutary
which shall evince a due liberality and
forfceara
I .1. -4 1 . .11 I 1 I
y-trrisir'Tey-anouiiii-Beyoni - -that,
be rigorous in exacting fhe adop
tion f such steps as' are sanctioned by " '
tne sound princ pies o currency and -
the public faith, Ther will then he Id.
at an early day, to relieve the commu
nity, as well as the Treasury, from a
condition of the circulating medium.
which, so far as it consists of bank pa
per irredeemable in specie, is one of
the worst scounres which ran be Inflict
ed on society. It is tin less hostile to -the
best maxims of political economy.
man ustiauy suoversive oi every just -Jense
of both moral and legal obligt
tion.. - ; ;:, " :-; :, - '. , ;'
TsfLsiominved in Qttrrmrt.)
cnty-
Fifth Congress.
Taa Bcaaiox.
IN
StSNATE.
. Saturday, Sept 23.
i'hechafpresenTerFa "report jffoin
ilieacreUry of-War iu obt'dience to
a resolution of the Senate of the 3d of "
March, 1837, Laid on the table. ,
: Mr. Calhoun presented a memorial
from numerou citizens of the town of
Mobile, in favor of a national bank. v
Laid on the table and ordered to be'
printed. . ;
Mr, : Swift presented two. remon
strances against the annexsfion of Tcxr
as to tht; Union one from the Q tarter.
meeting 01 mends in Vermont, and
the other from citizens of the town of
Union, in that State. - Laid on the ta
ble.
SUB-TREASURY SYSTEM.
The Senate resumed the considera
tion of the bill providing for the co1-
ection and custody nl the public rev-
"S ' " "iijj-nn me a-
uri'aiiitB me guvcniuiem irom llie
batiks, . r
Mr, KINO, of Oeorzia, roue. and. In at ich
of more than three hour in length and much
deciaion, delivered lit View of th various
questinns involved in the auhject befot th
eenal. The following prnaenla a brief otillin
of com of lb point tmiciteil on in Li Inter
esting tttdrrssv He eaiil be had felt great em
barrassment during tba whole of the Vewiou in
regard to th propoaitiAn of Mr. Rive and .
Mr. Ualtjoun. lie was not enUrely in favor of
cither. He had been always opposed to th
8tate Dank Sylam, and bad predicted th dia
tuiter winch have followed it adoption. . Us
inaisted that it bad not only failed, but was an
entire luilur from th beginning svstem of
fraud and deception. . It produced apeculalton
in th exchange, by the officers of th bank
who were expected to regulate then.; lb al
leged facilities of exchange wer merely nomi
nal; and be adduced instance lo show that sha
ving, to great extent upon them, bid been
carried on. Th apeci circular bad increwed
tba amount of sharing; and he adduced insiaa
1 co s of enormous profits divided by Hi batiks Im