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BY A. S. JOHNSTON. NEC DEESSE, NEC SUPERESSE REIPUBLICjE PUBLISHED WKEKLYi VOL. 583? NO, So COLUMBIA, S. C. JUKE 24, 183?. $3 PER ANNUM XHfi 30L?3?SZJL T313SCCF3 18 PUBLISHED BY A. S. JOHNSTON, livery Saturday Morning*, 'Jld EVERT WEDNESDAY AXD SATURDAY MORXIXG D7RXX3 TH? SESSIOS OF THE LEGISLATURE. TERMS : Three dollars per annum, if paid in advance, or Four dollars at ihe end of the year. Advertisements conspicuously inserted at 75 lit.* per square for the first insertion, and 37i cents t ?r every subsequent insertion. AH advertise naen ts Intend m the inside every publication ? or inserted Otherwise than regularly, to be charged as new for %ttf y insertion. Advertisements not having the torimber of insertions marked on them will be contin ued till ordered out, and charged accordingly. All -feecoonta ior advertising, above #25 and under $50, $5 per cent leduction ? above $50, 40 per cent, de Ojicr, DR0GG1ST AND AHUTiJECARY. ^T^BESPECTFVLLY informs his friends and the public that he has purchased from >Jr. S. Per Xaval, his entire stock of well selected Drugs, Chera feak, Family and Patent Medicines, Surgeons In riinn Oils, Varnishes, Paint Brushes, Dye StuSk, together with a great variety of articles, usually kept in an establishment of this kind, all of which are warranted genuine, and of the best A regular supply will be kept up and sold at the 1 owest market prices and no effort on the part of the subscriber shall be wanting to give general satisfac tion. A share of that patronage heretofore so libe raBy extended to this establishment, is most respect fully solicited on the part of the subscriber, which frees bis fang experience and attention to business lie hopes to merit. Afjply at Dr. S. Percival's old stand, Main street opposite to Briggs' late Edgar's Hotel. WANTED. A youth about 15 or 16 years of age of good moral -character, as an Apprentice to the business. Apply *s above. Southern Tonfc. THE success of the Southern Tonic is unprece dented. It has been anxiously souvht after by nil classes in everv part of the United States, and iis ; widely extended distribution has been owing to the ?any requests received from every section of the South and South West. Although it originated in obscure part of the country but a few years since, it is now found in all the principal towns and villages i n the Union, and its virtues as a Cure for Ague and F jver, and as a. general Tonic are appreciated by all who have used it. Being as it professes a compound of Southern Vegetable* , itis needless to offer the as surance that there is no Arsenic, Mercury, nor any thW in the least hurtful to the human constitution in it. It wilt be found a valuable Medicine in all cases of Dyspepsia and disorganised Stomach and Bowels, -and t atients convalescing m?m Billious Fever, will ?dame the Most important benefits from the use of the Southern Tonic. It may be administered to children aflft infants of the most tender age, with tin laoat safety. Prepared by Coster & Core at their laboratory, at Montgomery, Alabama. For sola by their appointed agent. D. & J. EWaRT, & CO., Columbia, S. C. April 22nd 16 ffOXXSRCLAL BANK ? Checks for Sale, on Mnhfla, Alabama Muck 4 - 9 - r ? * . 1 JLau> JYotice* THE Subecfibers having formed a copartnership is the Practice of LAW, under the title of WAYNE & FAIR, wOl attend the Courts of Mont \ asd the adjoining counties in Alabama, the OMrtat Mobile, and the Supreme Court of the State. Office in the sown of Montgomery. ISAAC W.HAYNE, May 27 / E. Y. FAIR. Swaim's Panacea. few dozen of the above just received from the t manufactory, which are warranted genuine. Apply at the Drugstore opposite the Golden F. W. GREEN? May 27 Training Stable. rVIHE undersigned proposes opening a public ? TrainingStable, on the 1st day of August, at tbeCbiambaa staee Course, where gentlemen hav ing promising colts, will have an opportunity at a 'inhratu expense, of testing their qualities. There is no doubt many a gem in this and nur sister States ijpoiaod To abscurity, or perhaps to wear the Collar , "who by this means might be brought into public no tice and fashionable life, and, what is more "up into" a neat ten thousand in the pockets of its own ?er. Man! a thorough bred animal is sacrificed, from the difficulty of ascertaining its real value, by a ?tegular training. After a horse has received the common walking ?etecciaa, which any one can give him, for two week?; seventy days will teU the tab, at least, so far as to poiat out the propriety of continaing or training him A bona for training, should b? sent in good order m fall strength and vigour, with somt-thing to work but not Acr/ot. The subscriber cannot be bet- i tar understood id this particular, than by saying a gentleman. should send his horse insuch condition as oe would have it for travelling, sound in health, and finsin flesh. When too low in flesh, the ho re is too - Weak t undergo the necessary exercise. The terms, or coat of training, will depend on cir cumstances. With the horse there should be sent, ; an able bodied man or boy, to rub , and a boy to rid , > of sufficient strength to pull a horse, and of weight ; proportioned, to the age of the animal ? for a three i year oid 90 lbs, 4 years 102 lbs, 5 years 1 12 lbs, 6 years 121 lbs, aged 126 lbs ; for fillies and geldings j three pounds less ; a Training Saddle, Bridle, Mar- | tingale, Circingle, Roller, two Blankets, two Hoods, . a sat of warm Woollen Clothing, and two sets of! Linen or Cotton, a Curry Comb, Brush, Pick, Buck- ! et, Halter, &c. complete. All these things being , furnished, the subsenber will supply the provisions ( for the horse and boy, together with his personal j an 4 the use of his stables, litter &c. at $2 a j iay. If pfoyisvjas are furnished by the owder, the : ^sptire charge will be $50. ??'JFbe doming may be made under ray directions | py the boys at the stable if the rough material be /era. The entire outfit will cost in this way about '$&, fjjd yffl fast, if taken care of, five years If j the robber and rider are not sent, they will have f0 be hired, probably at a higher cost than they ?Ould be furnished by the owners Qputlemen wishing to send their horses to be pained, will b j good enough to drop me a line when ! they will send, and how many, that their stalls may pe putm readiness. Every possible care and at ten- ! taan will be given, but no liability incurred for aeci- : dents. When a horse is ready to make a trial, the wMihave notice, that he may witness* his per- ; tcfii .qr depute some friend to do so. ? gentlemen in this State, Georgia 49$ Virgin*, bfve been kind enough to offer their M** fences, bpth in regard to the qualifica- j ?jtd integrity of the subscriber. In South Carolina, Cpl. Wade Hampton, B. P. Taylor, J. McLean; in Georgia, Capt J.J Harrison, in Vir gin ia, Cot W. R- Johnson and J. Pucket. GEO. G. WALDEN. Columbia S. CM June 1, 1837 . 23 Committed. fWlO the Jail of Richland District, as a Runaway, ; JL a Negro man, who calls bis name NED, arid saythe belongs to Vincent Carr, a Sugar Planter, on the Miasissippi rif er, in the State of Louisianna, j and mjt he renaway on April last. Ned is about : twenty five years of age, about five feet five inches *gh, dark complexion, has lost his two upper front teeth. Ned says he was raised in Charleston S. C., j by John Maybonk. and apid by hiip to Harry Bow man, and by Bowman, to his present master, Vin cent Carr. The owner is notified to come forward, prove his property, ^nd comply with the la"w in other ; raapects. JESSE DEBRUHL, S. R. D. j March 38, 1837 J? I POSTPONEMENT of the Drawing of the Splendid Scheme of the Alexandria Lottery, Class E, (Highest Capital $75,000,) from the 27th of May to the '23d of September, next. From the general embarrassment of the times, the deraneed state of the domestic exchanges, and the difficulties attending the disposal ofUanK Bills out of their immediate circles of issue, we have been solici ted by agents and Venders to postpone the drawing of the above scheme, for a short time, until ihe pre sent crisis m the affairs of the country shall have passed away. We have therefore yielded to these solicitations, and postpone the drawing of the Alexandria Lottery , Class E, from the 27th of May, to the 23d day of September next, when the drawing will positive Ly take place. Adventurers having purchased tickets in said class, and who do not wish to hold them until the drawing, can have their money returned by the agent or bro ker from whom they purchased ? or can exchange them for tickets in classes to be drawn at an earlier day, as it may suit their pleasure. The Managers have consented to this postpone ment with extreme reluctance, as it has always been their policy to draw every scheme at the time an nounced. The unparalelled state of the country, is i he only cause of this one departure from the usual custom. All the other schemes now before the public, will be punctually drawn on the days annoum ed. D. S. GREGORY & Co. Managers. Washington City , May 13, 1837. ?75,000. 15 Drawn Numbers in each Package. The most splendid Lottery ever drawn in the United States. Alexandria Lottery, Clas? E. To be drawn at Alexandria, D. C. on the 23d of September, 1837. 75 Number lottery ? 15 Drawn Ballots. RICH AND SPLENDID PRIZES. 1 Grand Capital of 75,000 Dollars. 1 Splendid Prize of 25,000 Dollars. 1 do 20,000 Dollars. 1 do 10,000 Dollais. 1 do 9,000 Dollars. 1 do 8,000 Dollars. 1 do 7,500 Dollars, 1 do 7,000 Dollars. 1 do 6,000 Dollars. $5,000 ? $4,000 ? $3,000 ? $2.732 ? $2,500 ? $2000 5 of $1,750 ? 5 of 1,500. 50 prizes of $1,000 50 do 750 50 do 600 50 do 500 50 do 400 60 prizes of $300 60 do 250 60 do 200 60 do 150 vv ^ &C. Tickets $20^-Halves 10 ? Quarters 5 ? Eights 2 50. Certificates of packages of 25 Whole Tickets $270 do Co 25 Half do 135 do do 25 Quarter do 67 50 do do 25 Eighth do 33 75 OCT Orders for Tickets and Shares or Certificates of Packages in the above magnificent Scheme, will receive the most prompt attention, and an official account of the drawing sent immediately after it is over to all who order from us. ? Address, D, S. GREGORY & CO., Managers, June 10 23 Washington City, D. C. 7,1,000 ! ! r The most Brilliant and Richest Scheme ever drawn IN THE UNITED STATES!! 15 Drawn Nop. in each Padtawe of 25 Tickets! ALEXANDRIA LOTTERY, For Internal Improvement in ihe District of Columbia CLASS E. T* be drawn in the City of Alexandria D. C. Saturday, September 23, 1837 D. S. Gregory & Co [successors to Yates & M'lntyre] Managers. BRILLIANT SCHEME. 1 Prize of 75,000 Dollars is 75,000 Dollars 1 Prize of 25,000 Dollars is 25,000 Dollars 1 Prize of 20,000 Dollars is 20,000 Dollars 1 Prize of 10,000 Dollars is 10,000 Dollars 1 Prize of 9,000 Dollars is 9,000 Dollars I Prize of 8,000 Dollars is 8.000 Dollars 1 Prize of 7,500 Dollars is 7,500 Dollars 1 Prize of 7,000 Dollars is 7,000 Dollars 1 Prize of 6,000 Dollars is 6,000 Dollars 1 Prize of 5,000 Dollars is 5,000 Dollars 1 Prize of 4,000 Dollars is 4,000 Dollars 1 Prize of 3,000 Dollars is 3,000 Dollars 1 Prize of 2,732* Dollars is 2, 732i Dollars 1 Prize of 2,500 Dollars is 2,500 Dollars 1 Prize of 2,000 Dollars is 2,000 Dollars 5 Prizes of 1,75C Dollars are 8,750 Dollars 5 Prizes of 1,500 Dollars are 7,500 Dollars 50 Prizes of 1,000 Dollars are 50,000 Dollars 50 Prizes of 750 Dollars are 37,500 Dollars 50 Prizes of 600 Dollars are 30,000 Dollars 50 Prizes of 500 Dollars are 25,000 Dollars 50 Prizes of 400 Dollars are 20, (M) Dollars Tickets $20, Shares in proportion. To be had at Managers Office 26 Broad st. Charles ton, S. C-, where Tickets :n all Lotteries managed by D. S. Gregory & Co, may be had. June 10 23 Fairfield District. HENRY J. COLEMAN near Buck head Pos Office, tolls before me (the subscribing Just tice) as an estray, a bright or yellow Soirel Gelding sixteen hands high, 5 or 6 years old, shod all round, no brand or marks, except a few white spots on .his back as if occasioned by the hine tree of the saddle, appraised to one hundred and ten dollars this 2nd day of lune, 1837. JACOB FEASTER, JR. QM. June 10 23 31 Regimental Orders. ,1 Head Quarters, Columbia, D^c. 5. 1836 A COURT MARTIAL, to consist of Major Wm. | Hopkins, President ; Captains Wade, Lyke*, j Black, Henly, Douglass, and Lieutenant Branthwaite, Members ; -will convene at the Town Hall, in Colum bia, on the first Mondays of January, April July, and October, 1837, at 10 o'clock, A. M to try Defaulters at Company, Battalion, and Regimental Musters, as well as- for disobedience of orders or non-perform ance of Patrol duty. Officers commanding Companies, will summons their defaulters to attend the Court on the days above specified, and will make a return to the Court ef the persons summoned to attend. By order of Col. G. LIGHTNER. June 10 23 W. B. THOMPSON, Adj't. Notice. THE Subscribers having been appointed the sole Agents for the sale of the SALUDA MA NUFACTURED YARNS and CLOTHS, would inform the Merchants and Public, that they will at all times be prepared to fill orders tor those goods punc tually. All orders must be addressed to D & J EWaRT, & CO. On hand for sale, 16,000 lbs country cured Bacon. D. & J. E., & CO. May 26th 23 Clark's Hotel. THE Subscribers feel grateful for the very libe ral patronage that has been extended towards them, since they opened the above Hotel, and beg leave to inform their friends and the public that they have reduced their prices of Board tpthe fbttovviug rates : For Transient Boarders. From 1 to 60 Days (with Private Table) pr. Day ... - $2,00 From 1 to 60 Days (at Regular Table per Day . . . - $1,50 For Regular Boarders. Over GO Days including Lodging) pr week - $6,00 14 60 " ^without Lodging) pr week - - $4,5!) ROACH & THOMPSON. May 27 21 From the New York Evening Star. FAME. To die, and leave behind Naught of surviving fame ? Of the divine, creating mind No trace, no single name ; To know no deed, no word, Our memory to restore, But that, when gone, there shall be heard Of us no <nention more ! . Nay, mock not that thou hear'st me sigh ; My friend ! this is indeed to die. But to live on, and on, Among the great, the good, Eternal station to have won 'Mid that high brotherhood ; Deep in the hearts of men Enshrin'd to be ; To shine a beacon to the ken Of far posteriry : ? Who would not days for ages give ? Who would not die, suak life to live ? What idle words are theirs, Who bid us bound our powers To passing pleasures, present cares, Brief as the fleeting hours ? So deem'd not they, I ween, The great of other days, V* hose brows still wear the living green, Whose lamps still brightly blaze ; So deem'd not they, who struck the lyre With Milton's truths, with Homer's fire. No ! from a fount divine These restless longings come ? This hope in honor'a light to shine Abov? the cold, dark tomb. Oh ! when from life I part, Let me not wholly le ; Still with sweet song to charm the heart, , Or raise with musings high, Still live in the remember'd line ? Oh ! might this glorious meed be mine. From the Cha leston Mercury. To Nicholas Biddle, Esq. President of the Bank of United Slates. Sir ? Tbe citizens of Charleston, at a pubs lie meeting held on the 18ih May, for the purpose of considering the expediency of the Banks of this city suspending Specie pay ment, consequent on the suspension in the Northern cities, passed the following Resolu lution ; _ , ? , Resolved, That the Presidents of the Banks in this citv be requested to establish forthwith a correspondence with the Banks of the other ( Commercial ci'ies of the Union, for the pur pose of taking early tnjaaures for the resump tion of Specie payments ; that when this mea- | sure does take place, it may be simullane ous throughout the United States, and with the least possible disturbance to the exchan ges of the country." This resolution was referred to the Presi dents of the different Banks, and an allotment made for the correspondence of each, with the several Institutions in the commercial cities of the Union, and to myself was assigned the honor of communicating with you on the important subject which it comprehends.? The private letter which 1 have already writ ten you, must have prepared you for this com municatiou. I shall make no apoogy or addressing you directly through the public press. The great power and extensive influ ence ot the Bank over which you preside (to say nothing of the prominent position you yourself personalty occupy) would seem to make it eminently proper, it the Banks are to co operate in effecting an early and salu tary return of the country to. a sound cur rency, that in this effort your exertions, enlightened by the experience you have had in the finances of the United States, should be directed to the highly important object of combining and concentrating the action of the other Banks in the Union, to the accom plishment of this most desirable result I feel, I trugt, all the diffidence which a comparatively short experience in the practi cal operations of banking oJght to impress upon my mind, and I should certainly have ?referred '.hat the suggestion I am about to make for AN EARLY AND EFFECTUAL SeSUMTI'ION OF SPECIE PAYMENTS on the part of the Banks, had been offered by one who could have given his opmions that sort of authority which results from a repute founded as well upon the public confidence, as on ripe experience and acknowledged ability. But the dark crisis in which the country is placed, in which even the evils we ar$ now suffering under, great as they are, seem comparatively of trivial moment to those yet in reserve, if some general and signal effort is not made for its relief, would justify the most humble man in the Union, however humble his own contingent, to present it freely as an offering for i he common and joint service of us all. . . I must therefore begin by premising that it the conflict which has been going on at least for the last six years, between the Gov eminent and the supporters ot a Bank of the United States, or in other words between the credit system and the advocates of a metallic circulation, is not comprom ia?d or composed, it will end in the RUIN OF Tob COUNTRY. I have been brought to this conviction by the most painful yet unequivocal omens. 1 have not the slightest hostility to your bank. On the contrary, in the very extensive intercourse which I had with it, commencing with the purchase of your Charleston Branch in 1835, by the Bank over which I preside, down to the present moment of our frequent correspondence, I have at all t mes recognized the great liberality and pub lic spirit of accommodation by which your Institution seems invariably to be governed. Whatever, therefore, may be my opinions on the abstract question of the power of Con gress to renew your charter (which inc:me to the rigid school of construction J for one, 1 should have been willing under The decision of the Supreme Court and the anterior appro val of the Bank Bill by Mr. Madison, to consid.-r the whole matter as res adjudicata , as a point definitely settled for \ he public tran quility, if not for the interest we all feel in a sound and stable currency. But whatever may be your opinion, Sir, or on whatever ground I may be willing to com promise a public question, is a matter of very little moment, provided it should be found in a representative democracy like ouisvthat the people sre arrayed on the adverse side, or an Executive should happen to be in power ready with his Veto to obey the sanctions ot his own conscience, his own convictions of expedi ency and justice, (or if you please his vindictive prejudices) by putting an extinguisher on your hypothesis financial and constitutional, or my own. How then, it may be asked, is this d fficulty \ to be met and surmounted? How is this j perpetual warfare between the Government or j the supporters of a metallic currency, and (he j Bank of the United States, (a conflict whi<*h j promises toengulph the whole country in con- j vulsion and ruin) to be stayed and put at rest ! forever'? J answer explicitly. By the spirit of conciliation and compromise, by. which, nine times out of ten, public danger is to be j averted, when force and violence prove utterly -powprless. Without a presumptuous confidence in my own opinions, (for God knows the crisis is well calculated to b.get, amidst oppaling difficul- j ties, any thing but a too sanguine reliance on ourselves,) 1 cannot but think if the conjunc- i ture which will be presented to Congress on the 1st September next, be met fey the Esfcu- i tive and the National Legislature, by the lead ing Statesman in both its Branches, and by the influential Banks of the United States, 1 (more especially by your own,) in the proper spirit and with the means and measures that j will be in the possession of all these function aries. public and private, Specie payments ; may be resumed in a very short period after the meeting of Congress, and in four months after the commencement of its session, ? the Constitution of the United States be so amended that our currency will be placed on a basis of prosperity and security which I trust will be imperishable. Before 1 venture to indicate with all due deference what appear to me to be the proper means to accomplish these desirable results, it will not be amiss to say a word or two on those causes which have contributed most effectually to produce our present sufferings and embarrassments. The primary and < fficient cause of the pre sent embarassments of the United States, is to be found in a want of uniformity in our currency, which resu ts from there being no legal or constitutional restraint on Us issues. This is a conseqaence of our complex form of Government, in twenty-six States each of them assuming and exercising the sove reign attributes of authorizing the manufac ture of mone\-, to an unlimited extent, with out the smallest check or control, except what they think proper to impose on them selves, no other effects could possibly have been predicted, than those which have actually occurred. Any remedy which fajls short of gradually arresting this evil, is absolutely worthless and unavailing. Upon this point, I desire at the close of litis communication to make a few suggestions, which comprehend a possible cure for this evil, which may, I think.be use fu!ly employed. These laboratories of paper money, in the different States, more especially in the new States of the West, were pampered into existence, ?>r met by a gigantic spirit of pub lie enterprise, which sprung out of the gene^ ral peace in Europe from the natural devel opment of the vast resources of our country, aa well as from the extraordinary discoveries ! in mechanical philosophy, by which a new and almost miraculous impulse has been given to public improvements throughout the world. The means which man possesses of increasing indefinitely his physical power by the agency of steam, has been most emphat ically illustrated in the last five years, both in England and America. The rati roads and Canals, public and private edifices and I may say towns, built or in in the course of con struction, in both countries, produced a d - mand for the immediate creation of a circu lating medium, which should be the repre. sentative of the amount of exchangeable value thus created, which the precious metals could not possibly afford. Hence the demand for paper money, and where existing Banks could not supply this demand, Joint Stock Companies were created in England, without number, under the Act of George IV, and the sovereign power of the States on this side ol the water, was invoked to incorpo rate new Banks, almost to an indefinite ex tent. The stimulus thus ffiven to the cur rency of both countries, was met by a short crop of Cotton in 1835, which with a super abundant issue in the circulation, carried prices up at once to a maximum, which pre cipitated both countries into a career of speculation little short ot madness. Manu factures, goods, wares, and merchandize, cot ton, lands, slaves, and every chattel, if we may so speak, real, personal, and mixed, rose to a point of elevation which, many ex post facto prophets have since predicted were dizzy and insecure. Still the demand for more Banks was insatiable, and not to be appeased. According to the most authentic returns we have seen t hat within the last * seven years, three hundred and fifty seven new Banks have been created in the United States, besides one hundred and forty-six Branches, which add^d to those previously in existence, made a total of six hundred and sixty seven Banks. This produced a corresponding augmentation of the Banking capital of the country, of one hundred and seventy nine millions, and an increase in the circulation of paper mon> y amounting to one hundred and twenty-five millions. Now, Sir, 1 consider these effects to have been altogether beyond the control of the General Government. That they sprung from the contagious influence of the spirit ofspecu lation, or if you please the genius of the age in which we live, that they would have occurr ed with or without the existence of the Bank of the United States proper, or the removal of the Depositee, or General Jackson's Treasury Circular. In one word, they resulted from the great demand for a circulating medium, and the unlimited power of the States to meet this demand, by an unlimited issue of paper money, to which, in an era like the or.e through w-iich we havejust passed, as salutary as may be the check of a Bank of the United States, on in ordinate issues in ordinary times, it would rather have had to obey the general inpulse ; of which I think the course of events in your own Bank, in Philadelphia, affords the strong est exponent. I am sure your own magnanimity and frank ness will induce you to tolerate this remark. Indeed nothing can illustrate more powerfully the extravagant spirit of speculation which in fected the whole country, than the fact, that the Legislature of your Stite should havegiv- J en your bank a charter for the enormous sum j of thirty-five millions, with the immense bank ing capital it had previously authorised by law, without the faculty of legalizing the circulation of one cent beyond its own limits. Let us be just, before we are severe in our judgment#. ? | The whole country is to titanic by a d;r'ct , agency i 11 bringing a^ont u state ot things to I | which the measures of our Government may i 1 have efficiently contributed, but which these , | measures could not have entirely produ ed. ; i It indicates no masterly spirit o? philosophy j to be harping on mere secondary causes at bos?, when the great sources of existing evils arc | 1 fi. unexplored. The strife which id now j j waging on whem to fix the exclusive respon> j : sibility of great public calamities* is Unworthy j i of the spirit of those who must approach the j i distemperaiure in our public affairs in a Widely ! different tone. Let me, however, not be mis*% j understood, f think Gen. Jackson CQinniitl?-d i great and mischievous mistakes in tampering [with the currency of the counlry? That he I endangered its best interests Wflfe attachment ! to a futile liy pot lies is, practicaote-aione through | a wise and gradual induction. That Us in one of his early messages Jie waved his con stitutional scruples in regard To the charter ot a Bank of tbe United States, he ought to have given his assent with salutary modifications j to a recharter of your Bank.or afforded to Con gress the projet of a fiscal agent by which the public money would have been secure in de* posit, and the circulation of the country kept as far as practicable in a healthy condition, a id under safe control. I moreover think nothing could have been more injudicious,thau his removal of the public deposites trom the custody of your institution, nor any thing more unwise than the Treasury Circular. The last was in fact a premium to the speculations of capitalists, and augmented with many conco mitant ills, the very evil it was designed to cure. But all these singly, or in combination, were unable to produce the great revulsion which has taken place in the trade, agriculture and commerce, of both England and America. As well might the sails of a wind mill standing on a promontory which overlooks the ocean, fan into exstence the tornado which upturns its mighty bosom. England, with her Govern ment Bank, and without a removal of tbe de posits ofher Treasuiy, or a Treasury Circular, is suffering from identical evils resulting from identical causes ? overtrading, extravagant speculation, and paper money. The crisis does not call for, but absolutely repudiates, on the part of tbe Government and the advocates of a Bank of the United States, the mutual indulgence in that spirit of reproach and re crimination, to which both parlies have so painfully resorted. Except to avoid the mis takes we have committed, it is useless to look back. Let us move forward with a deterinin. at ion to lay aside all contests for political pow er, all par'y strife, ana all selfish and personal prejudices or attachments, and in one united and immediate^ effort, to rescue the country from impending ruin. This, I would fain hope, can be accomplish ed by a spirit of compromise and conccssion on the part of the Government of the United States, and those who rriav be called the advo cates of the credit system, which ba? taken such deep roif, and exercises such pervading influence among us. It may be assumed that our present embar rassments have divided the country into two parties. That they consequently offer the fol lowing antagonist remedies. 1st. The organ of the Government indicates a determination to divorce the government from all connection with Banks, to have its own sirong box, and by compelling the pay ments of all Government dues in specie, to bring the country back to a hard money cur rency: 2dly. The supporters of a credit system are sirnpiy in favor of a re charter of ihe Bank of the United States by Congress, and believe that bv the salutary operation ofthis insitution on the circulation and exchanges of the coun try, the present evils would be cured with the least possible disturbance to the great iuterests of the country. The limits to which my own inclinations and a due regard for your patience assign me. forbid my treating the large and profoundly interesting topics comprehended in proposi tions, in a manner which their own importance would seem to demand. They cannot how ever be passed over iu silence. It must, I think, be obvious to any man of reflection, that if it should be desirable that coin should either form the sole constituent, or enter more large ly into our circulation, this end is only to be accomplished, safely and beneficially, by a gradual process; by which the country shall be even insensible of the change which is going on in the standard of value. The truth is, this country and Great Britain have tieen built up by the credit system, or, in other words by, a paper circulation; if not at all times convertible into specie, at least at HI times having its value guaged by Gold and Silver, if the Government had the despotic power of annihilating every Bank in the United Stales at a blo-v, and of burning every Bank Note by the hand of the common hang-man, it would onlv lead to a ruin and transfer of property, gr> ater and far more desolating than have signalized the footsteps of ihe most sanguinary revolution which has occurred in the world. ? If lli refore, Government was to attempt par^ tially the accomplishment of this end, by the means which have been announced, it must produce a climax in our present suffering, and fill the whole country with convulsion and alarm. The truth is, the institutions and habits of a people are not to be torn up in a day. The excessive issues of paper money has had much to do with our present difficul ties, but the emission of credits, in the shape of a convertible circulation, when w II susained and guaranteed by specie und its equivalent in solid securities, have made England and Ame rica what they are, whilst a hard money cur rency has not prevented Spain and Italy from sinking into their present condition of debase ment and imbecility. The mere fact of not miking paper money a legal tender in ordinary times, is an effective security for its solidity to the public. Mr. Burke, in the grandeur which belonged to his genius, 88 id forty seven years ago, in speaking of the currency of England, as contrasted with that of France, 4-Our paper money is of value in commerce, because in law it is none. It is powerful on change, tecause in Westminster Hall, it is impotent. In pay* ment of a debt of twenty shillings, a creditor may refuse all the paper of the Bank of Eng? land. Nor is there amongst us a single pub lic security of any quality or nature whatso ever, that is enforced by authority, (n fact it may be easily shewn that our paper wealth, instead of lessening the real coin, has tenden cy to increase it. lustead of a substitute for money, it only facilitates its entry, its exi*. and its circula'ion; ? hat it is th<* symbol of pro?^ perity, and not * he hadg.i or' <1 i^t '* Th^r* i.s qmie ns much of true philo-ophy and souid sense in this passngp, as of verbal elegance. ? The Ristorv, both of England and Amer.CA prove it. Limit llie circulation oT paper to its representative m coin, arid the securities of subsfanti.il property, and a country is at once blessed with a ctirhfttcy sound, safe and heal thy, and competent to perform ali the transfers .and exchanges of her trade, commerce and agriculture. To alford however td tlic puW;c, a security for the application of this limit, in the difficulty. This nevertheless is a duty and trust of every civilized government, anil involves an obligation that can neither be com* promised or postponed.' It is a duty which our government must perforuu If thejr Mire not the constitutional power* it must be coo* ferred by an amendment of the Constitution* it is iu vain to speak iui mediately of the . destruction of every Bank in the country, even if this measure Was desirable* it could not be accomplished with safely in lesft than thirty years, and then by a process the most gradual and healing. The effort td establish a hard money currency for the Government, and at the saute time that the people Should have one of paper for themselves^ milftt per* petuate our present embarrassment* ana if practicable, musten& in calamity and con vulsion. The truth is oot to be concealed* sir, that it the advocates of a hard money curren~ cy could succeed in carrying their favorite hypothesis into practical operation, every man whose liabilities amounted to one fifth part of* liL actual property, would be ruined; I leave anv n.an who is acquainted with the oharactcf of our people, to de ide if they would permit ?ol. Benton lo put us like mice into bis ?raat metallic retort lor the purpose of ascertaining how long we could breathe in this exhausted receiver. 1 have 110 toleration forlhebries thst are Id place nine tenths of the country under the parental custody of the Sheriff, or lo con sign some of the best men among us to tho despair which sudden ' poverty brings upon those who have others to curse and not them selves for their ruin. ' . * / v Whilst 1 feel the utter absurdity, not to say wickedness of precipating the country sudden* ly into a great and alarmiug change in its currency, I am not insensible ofthe signal evils which are on the other hand incident to a pro* fuse issue of paper money, which combined with a spirit of extravagant speculation, have brought us precisely to oor present condition, I shall therefore now proceed with the utmost deference, tosu^gbst what scetn to be appropriate remedies to meet the ev hi ofthe present crisis. 1st. 1 shall speak of those which are of a permanent character, which I think will up* proximate to a gradual, though effective cure of our currency. , . - ' *.*: . 2d. Of those of a temporary character, but by which \H&revar, the Bank* might _#t -art early day resume specie paymoois, and from which immediate relief might be afforded* and the present embarrassments essentially miti' gated, or entirely removed. > . 1st. No permanent euro can be applied to the existing distemperalure of oor cocr*ocy# except through a fixed provision of the Con stitution and Laws by which the Bank capital of the United States shall not be increased hereafter; but on the contrary, be gradoaUy dimishad by the falling in of tho Char eta of existing Banks until the amount of capital among the States shall reaeh a point to be apportioned by some ratio among them, /that shall be deemed safe and proper. Perhaps a ratio that shall be compounded of population and exports, would be the safest rule of pro portion. For this and the fol lowing purposes, it would be necessary to obtain an amendment of the Constitution ofthe United Stales. ? 1st. This amendment ought to contain likewise the explicit gruat to Congress of the authorjty to incorporate a Bank of the United States, with such limitations against the abuse of power as experience may have suggested* This provision ought lo prohibit the govern ment ofthe United States holding more than one eighth of the stock of the said Barik, for which it should be entitled to but one six teenth of its representative' power in the elec tion of its directors. 2d. The States should likewise solemnly abjure the power of incorporating a Bank be* yond the amount of capital fixed as the ratio, and confer upon Congress the power of deter* mining the denomination of the bills to be is sued, in order that in this essential particular the curency might bi* uniform throughout tho United States. The object of this last provision will be ob vious. Congress might through the instru mentality of this ppwer, gradually increase '.he metallic circulation, by enacting, for example, that no state should after the y ar forty issue a note of a le?s denomination than Five dol lars, in forty five of Ten, and in fifty of a less denomination than Twenty dollars. A scheme wh;ch Mr. Calhoun disclosed in his able speech on the Currency. In this mode I con* cieve that the banking capital of the country might be brought down, the paper currency diminished, and the metallic circulation gra* dually augmented without any dangerous dis turbance of ihe standard of value. ft is a most fortunate circumstance that as Congress will meet ou the 1st of September, the. amendment might be passed by that body, proposed to the legislatures of all the States which will be in session in the course of the wintrr, a :d if ratified by three fourths, becom ? a part ofthe Constitution by the lat of March next. 1 hope it may not be deamed unseasonable, that 1 should offer a few reasons in favor of amending the ConstitUttOrtj to place beyond a doubt, the authoritv bf Congress to incorpo rate a Bank, and if conferred, that I should of fer a few reflections oil the expediency of re entering your Bank tVith some modification which may be of salutary importance. Although you may think it mere surplusage to amend the Constitution of the United State* in this important particular, yet the country has been so seriously divided on this great question, that it becomes a matter of the high est public concern, that the Union shoold be no longer agitated on this exeking topic. YdU are, moreover, well aware, that mo^t of the objections to a Bank of the U. States, have rather been as to the constitutional com* petencv of Congress to create one,tbao to the policy of this fiscal agent, of great and saluta ry use, if under effective control andable aud faithful management. - *