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CAMDEN, S. C. TUESDAY EVENING, FEBRUARY 19, lSfiO. THE PANORAMA. We are back from the voyage, and must write the pleasures of the trip. The Panorama now being exhibited ai the Female Academy, is both a splendid specimen of art, and a representation of the beautiful and sUblime in nature. The scenes on the Hudson, naturally sublime and completely interesting, are rendered more so by the associations connected with them. The spot where Andre landed, calls up the memory of the hero-traitor, and of the noble youth who should have lost his life in a nobler cause. The Palisadoes, where the lofty colonades of a thousand ruined cities seem planted, West Point, the excellence of which institution the glorious battle-fields ol Mexico tell, the Catskill Mountains, whose dizzy summits 6eemto hide themselves in the storm - " ? ? 11 cloud's bosom, and the city 01 Aioany, are an uedelineated in a masterly and pleasing manner.? Then we come to the Old Dominion, and Harper's Ferry, where nature's wildest magnificence has her throne, burts upon our view, and seem to rise " The palaces of Nature, whose vast walls Have pinnacled in clouds their snowy sculps. All that expand** the spirit or appals, Gather around their summits, as to show, How Earth may pierce to. Heaven, vet Jerve vain man below" . The Natural Bridge affords a display loo grand to be written about. Here occurred an incident of thrilling interest. Washington, in his boyhood days had strayed hither, and as indicative of his fate, he carved his name on the arch under the bridge, far above all the other names. A youth whose ambition was greater, but destiny less, carved his name above that of Vernon's chief. In the soft sandstone he cut steps with his knife, and kept advancing upward, soon too high to return. His j only chance was to cut his way up. Many, many feet he advanced?but his knife was now worn to the hilt?the dizzy distance below?the bridge directly above. Many had gathered on its summit? a rope was lowered down, and providentially a breeze blew it under?the youth seized it, and was drawn up. He should have been great. The moving closes with the scene at the crossing of James River, at Richmond. To pass it just as sunlight tips the housetops, and glitters on the river, is beautiful in the extreme. But go, one and all, and see it for yourselves. THE TELEGRAPH Don't work to suit us. There has been a lack of speed somewhere or somehow laieiy wmcn we can't exactly understand. We are not thoroughly acquainted with the modus operandi of this truly wonderful arrangement, yet we think we know enough of electricity thus employed, to expect a message started from Camden for Chat teuton at six o'clook on the evening of the 12ih inst., oughi to be answered somewhere within forty-eight hours. In the case referred to, a gentleman assured us he had telegraphed to Charleston 011 the 13th inet., and up to 12 o'clock on the 14th, he had received no answer, although anxiously expecting one. The gentleman to whom he addressed the message, is a business man, always at his post, and never hard to find from the reputation he bears, being in a situation that requires him always to be on hand. Another gentleman telegraphed on the morning of the 13th, but met with the same success. At a later * ? i*L 1 4\_ _ A1 nour on ine hui, nowever, me nrsi gcuueinau received an answer to his despatch, making the run something within the schedule lime of fortyeight hours. In making these charges against the Telegraph, \v*c are aware that we may be answered iq many ways; first, that our instances are isolated ones,and that various causes may be assigned for delay.? We grant it But it is singular that the messages intended for the Journal are -...ays so long in getting here. The arrangement with our correspondent in Charleston is, to send his despatch from Charleston on Tuesdays and Fridays at 10 o'clock, a. m. We receive it here from Jive to seven hours afterwards. Frequently we are at press when the 1 messaee comes. Could we relv with cerlaintu upon 1 getting the message in five hours?say by 3 o'clcok ?we could get along very well; although an hour ( sooner wouldn't, hurt the Telegraph much, but ( would benefit us. We don't locale the fault. Not j knowing, we therefore cannot say where it lies. \ We hope it will be remedied, and that speedily. j THE SABBATH DAY. j Among other resolutions passed by the Stock holders of the South Carolina Railroad Company, ^ at their late meeting, is one *instructing tne Pre- { sident and Directors of the Company to make ear- ) ly arrangements for a discontinuance of labor on I the Sabbath day (unless In cases of necessity) by { all persons in their employ." We hope the spirit and letter of this resolution will be strictly carried t out immediately. The road cannot prosper until I the Sabbath day is duly respected and honored. < 1 It is strange?passing strange, that men should he so easily deceived as to think that the late vote ] i i* . - .1: on itoois resolution was 111 any iuuic<iu\e ui the intention of the North to do us justice. Itisbut the feint retreat of the enemy to lure us into a pursuit which will lead us from our strong hold, and then turn upon lis unsheltered. The bold front offered by the South, relative to the approaching Southern Convention, has thrown them upon the necessity of another stratagem. They would now, untilafter the Nashville Convention, perhaps,show every disposition to do the South justice, in order to weaken the effect of that Convention?and then succeeding in their ruse would be as a band of myrmidons let loose. Mr. Meade, of Virginia, has exposed himself coldly relative to the Conven. tion?rund his first proposition is, that "the Southern States, having already suffered wrong, should not now nvsent." We very much mistake the spir. it of the Oid Diruinion, if that doctrine finds favor with her people. His 2nd reason is that the vote on Boot's Resolution indicates a growing sense among Northern Representatives of ihe justice of Southern claims." What this is worth we have already hinted at. The Fayctteville Observer cf Feb. 5ih, says: " We take this occasion to say, very emphatically. that we have no faith in, nor sympathy with Mr. Clingman's views of the immense prosperity which is to result to the South from disunion. On the contrary, we should regard it if effected (which God forbid.') as the ]>arentef woes unnumbered and in numerable." And this a Southern paper?all who have read the Speech of Mr. Ciingman, can but subscribe to the justice of his views. What gain we by having j attached to us a company of paupers whose sole business is to rob our pockets and then revile us. , The Southern Convention is now our Ark of cafe- i ty. Let the Northern ruse, now being attempted i to be played off on us by a pretended concession nu inctino ?i*11 tl ! Ull U1C pail U1 HIV "Uim iw 5.11. j"' "w the Convention is over, and then to redouble their aggression?be successful, and we are the vassals of the North. Let the watchword of Butler find a home in every Southern mouth?and let the few paltry souls, afraid for the South to assert her rights in Convention assembled, be marked with the brand of Treason?the Tories of ItfoO. We see that Robinson & Eidred will be here on the 25th, to gratify all the young folks, who are ( Circus goers. I 53^- A writer in the Charleston Mercury nomi- ! nates Hon. Barnwell Rhett, Hon. Angus Patterson, and Col. Thomas Glover, as delegates to the Southern Convention, from the sixth Congression- ( al District. MEETING OF STOCKHOLDERS OF S. C. | p 41 t. nn.tn The Annual Meeting was held at the Bank Ilall in Charleston, commencing on Tuesday 12th inst., at 11 o'clock. Col. J. B. TOn was called to the Chair, \V. II. Bartless, Secretary. The Report of the Committee on the "Sinking Fund" was presented through Daniel Ravend, Esq., Chairman. The Report shows that the indebtedness of the Company has been increased during the year, and that large enpenditure is in prospect, not the re- , suit, as is stated, from the appropriation of funds to new purposes, but from the expediency of in- : creasing the expense ol* contemplated improvements earlier than was anticipated. The.-e arrangements seem to be warranted by a wise consideration of the true interests of the Company.? The additional expenditure required for the works referred to are estimated at .$0'36,000. The whole of this expenditure may not he required during the present year; but, certainly will be in the course of 1850 and '51 ?and with the ordinary means of the Company, the greater part must take the form of indebtedness. Our indebtedness on the 31st Dec. last, was, per Auditor'* statement, No. J, $3,515,537 Against which assets of the Company are credited, amounting to $565,-136 But deduct from this the Company's interest in stock of the Camden Branch, not available at present, 200,000? 26?,-186 Malting the actual balance of indebtedness of $3,247,021 To this"balance itdd the extraordinary expenditure in progress and contemplation, $635,000 Less the value of the iron sold to Greenville K. K. Co. as per report of the President, estimated at 1SO.OOO And the probable value of the iron, not taken by that Company ' 3f.,00C? 216,000? $120,000 i Frobable inilelit. on rnmpli*ti?nof improvcm'ts $3,667,000 , An increase of $-J-O.cO0. Of the debt of the Company, about ?250,000 will be payable in 1858; about ?250,000 in 1868; the ?2,000,000, 5per cent debt, in 1866, and the balance of the Bond Debt, at various periods, between one and nine years. It appears then, that although the principal part of our debt is payable at long periods, a rvAflion a!' it nii/1 nlc/i tlm oviwtnrlifiirn nntt' in 1 progress must be met by new credits,or in money, at an early peaiod. The Report referred to us, submits two plans for meeting the debts?the one proposed by a Committee of the Hoard of Directors? the other by Mr. Holmes, the Cashier of the South Western Rail Road Hank. The plan of the Committee is, to pledge the additional ?*2"), due on each share, to be called in by instalments of $5, corresponding with the maturity of the Company''s bonds, the lirst in October, 1857?with other securities named; and to convert the Company's property in real estate, and Camden Branch, into stock of the Company, to form a sinking fund?which com- ' pounded at 0 per cent interest, would pay the 1 interest and extinguish the then existing debt in udoih 10 years. Mr. Holmes' plan is to distribute the expendi- f ture upon real estate, and the Camden Branch, 1 ^as it was realized from the earnings of the Com- ' pany.) by a credit of $10 on each share, against 1 die $25 due, and to appropriate to the debts s semi-annually, the sum of $118,873 50-100 t from the income of the Road, which a calcula- * don shows would pay the interest and extin- ' juish the then existing debt in 20 years. The Committee recommended the payment of r die balance due upon the shares of the Capital 1 Stock. Without it the probable increase of indebt- * 1 i dness will be $420,01)0?with it the aspect of affairs would be materially improved. The $23 per Share, or 3S.810 Shares held by the Stockholders, would produce $970,230 1 If out of this fund the contemplated expendi- j lures be paid, say 030,000 There will he left about $231,000 ^ To be applied to the debts?besides wliirh. in this event, the proceeds of the sales of the ' Iron, removed Iron. Hamburg Road, would reduce the debt 210,000 Making the probable reduction of debt. $330,00J i Other considerations commend the measure, i The right to call lor instalments lias depressed , our Stock. Investments will not, in general, lie desired, when they involve a liability to further payment, and at uncertain times, which it may not be convenient to meet. This apprehension being removed, the Stock would become more saleable. The payment of nearly a million of capital eould not fail to increase confidence in the enterprise, and to operate favorably upon the interests of the Stockholders. Nor is there reason to apprehend that the additional payment would not prove a good invest intuit, vii tut? wiiii di V) ii i? a i?iii <iopuiii|mivii, i that the sooner and the better the road is prepared for the business in prospect, the sooner and the more fully, will this and the outlay already made be rendered profitable. This favorable anticipation does not rest on conjecture. With the restrictions which a large debt has placed upon efforts to provide adequate means of transportation, the receipts of the road innrpfiBO pvhi'v vpnr flip nvprfltrp nnminl ill- i crease for the last six years, viz: from Decern- i her, 1843, to December, 1849, has been ?74,871 ? and the new avenues to our road, now in progress, authorise the expectation, not only of continued, but of greater increase. 1 The interests of the stockholders, and of the company, are identical. If the company be disembarrassed, the individual members will immediately feel the benefit. Nor ought they to think hardly of the proposed call. Acconlingto the Auditor's Statement, No. 1, the rost of our road* and pri>|*rty, is $G,'Jl?tWG This enst appear* to hove been provided.? By 34,8J0 shares, (orii>iiml) at 75, S-.<>10,750 By 4,000 Camden Bianch Share*, held by individual*, 300,000 $010,750 1 By instalments fbrfei ed, 311.672 By income reserved and tliu* applied, 448,152- $3,679,574 Showing the amt. met hy loan*, to l>e $3,247,072 Whilst the present shares have contributed by direct payments onty 82,910,750, loans have Furnished 83,247,000 of the cost. This proportion of debt, to original money capital, would, in almost any enterprise, prove embarrassing 1 and discouraging. Such are the considerations, which in the i opinion of your Committee, indicate the policy and reasonableness of the measure proposed.? In connection with this measure, your Commit- < tee would suggest the expediency of adopting a 1 system of greater simplicity in our accounts. Hitherto we have been constantly construct- ] ing, as well as working our Roads. A tact of itself involving complexity in the application of means, and at least apparent complexity in our accounts. The consequence has been, that with J large and increasing receipts, encouraging expectations of benefit, the Stockholders have been ! disappointed, and the public mind has labored under uncertainty and doubt as to the real con- j dition and results of the enterprise. But the prospect is, that in a year, or little more, the whole Hamburg Road will have been re-constructed with the heavy iron rail now gen. erally approved?and that the outfit will be > i J J .. .1 . i. 1 such, as is ueeinea auequnie 10 uie wum m immediate prospect on our several Roads. Your Committee hope that additions to the outtit thereafter, may be provided out of income.? They therefoae propose that upon thecomple- 1 tion of the works mentioned, in the estimate of expenditure submitted in this report, all expenditures whatsoever upon the Road and Depots, the purchase aud reparation of locomotives, cars and machinery generally, be charged to expenses, and deducted from the receipts of the year. The proportion which these expenses bear to the receipts of a Road, have been the subject, as your Committee understand, of careful enquiry and calculation, and they conclude, from statements und opinions given thein, though to some extent coiyectural, that the ordinary expenses of working a Road may be estimated at shout 45 per cent.; and the deterioration, the repairs a^d renewals of Road, Buildings and outtit,at abo'Ut 15 per cent of the gross receipts; the two making 00 per cent, chargeable on ?-? ?,vh!.-<h fillnuMnne oxneri glUDO Itttljiia uy\JU VTIIIV " r ? enced men think it safe to form un estimate of net profit The charges on our receipts may, therefore, be in that proportion. But by the actual charge of the expense incurred and paid, the profits legitimately divisable among the stockholders would be better understood. Experience would soon show whether any and what reservation of profits, prudence may require. Extraordinary losses may occur from tire, for instance, or other causes?cases of the kind cannot be the subject of any general provision ; and when they occur, (which is rarely) the Directors must use a discretion in meeting them by a reduction ot dividend, or by spreading the loss over a longer period, according to the extent of the damage. But in the opinion of your Committee, the dividends ought to be brought up to the standard of dividends upon other stocks, provided the net profits arc sufficient for the purpose Regular and fair dividends are a just and reasonable expectation on the part of stockholders; and in general, they are the necessary condition upon which investments can be made in any stock. The benefit of certain and good dividend, 1 u'ould soon re-act upon the Company itself. So ioon as the stock of the Company shall perma lently produce 6 per cent or more, per annum, rom actual profits, your Committee think there ,vill be no difiiculty in converting our debt into itock, at its par value, and thus, in a reasonable iine, to liquidate the entire debt The Stock of he Company, your Committee hope, and beieve, will prove its true sinking fund. Your Committee would now submit an csti- i natc of the Capital and business of the Compa* < ly, for the year 1851, before the end of which, 1 hey hope the improvements referred to will have jeen completed. Assuming that the instilments due upon the 1 shares will have been paid, the debt of the Com- { mny, which wo have supposed would amount, it tne completion oi tnc improvements, wiin our , >recent meniic, to g3,(V)7,000 1 Vill have been reduced nlwut 550,000 Leaving a balance of debt, of $3,117,000 ' \nd the 38,010 shares of clock at $100 would be 3,881,000 j ftfi.90S.000 Dr in round numbers 87,000,000. In this estimate of capital, we have excluded the 8118,000 of income and the 8311,000 of forfeitures, expended on the road ; and also our proportion of , the Camden Branch. It represents the capital upon which interest is paid or dividends exacted. We have already seen that the average annual increase of the receipts of the road have amounted to nearly 875,000. The last year's increase was 892,000. We may, therefore, safely estimate the tJro** tneome of 1851 at $1,075,009 60 per cent of which, for all expenses as already explained, would be 642,000 And will leave a net profit of $433,000 being a fraction over 0 per cent per annum, on < the estimated capital. I But 2,000,000 ol' our debt bears an interest of ' only five per cent. If, therefore, the interest of ( the debt be first charged, and the balance of net profit be divided on 3S,910 Shares, it would j amount to 0 7-10 per cent. Yonr Committee would remark, that they \ have based their calculations on a higher esti- 1 mate of the deterioration by wear and tear, than ' the Report of the President would authorize; 1 which, however, they think the saier pian. ; IShould the estimate of the President be a near- j cr approximation to the truth, the net profits of t the lload will be increased to more than 7 per t cent. i Your Committee conclude by submitting the * following Resolutions to the consideration of j the Company, viz: 1. Resolved, That it be referred to the Di- , rectors to call upon the Stockholders for payment of the balance of $25, due on the Shares i of the Capital Stock, by instalments; provided, t however, that the instalments shall not exceed ' 85 each, nor he required at shorter intervals , than ninety days. \ 2, Resulted., That on {tie completion ot tne j works contemplated in the estimate submitted j with this Report, all expenditures thereafter to be incurred for the construction and repair of Depots, the keeping up of the Roads, the purchase and repairs of Locomotives, Cars, and Machinery, shall be charged to expenses, in like manner as the expense of working the Road. Respectfully submitted, in behalf of the Committee. DANIEL RAVEN EL, Chairman. Charleston, Feb. 12, 1850. 3Ir. Mazyck moved that the Report be print ?d and laid on the table for the present, which J was adopted. ^ The following are the proceedings of the i most interest 011 the last day of the meeting: Judge King offered the following : Resolved, That the thanks of the Stockhold* J ?rs are due, and they are hereby tendered to t Col. James Gadsden, for the enterprise, energy 1 and fidelity with which he has discharged the 1 high trust confided to him, during j>eriods of j jreat difficulty and embarrassments in the af- j lairs ot this company. Resolved, That a free ticket over the Road, for life, be and is hereby tendered Col. James Gadsden, Lady, and servant. Mr. Trenhohn, in a few remarks, seconded the Resolutions, which were then unanimously adopted. Gen. Buchanan offered the following: Resolved, That all Stockholders shall hereafter lie entitled to travel on the Rail Road, free of charge, in going to and returning from all Meetings of the Stockholders; and that on such occasions, the families of the Stockholders shall be allowed to travel on said Rail Road free of charge. Mr. Pelpoon moved to strike out that part in regard to allowing " families to pass free," which was lost The original Resolution was then adopted. On motion of Mr. "Wallace, it was Resolved, That the President and Directors of this Company, be instructed to make early arrangements for a discontinuance of labor on the Sabbath day, (unless in cases of necessity,) by ull persons in their empl oy. CRITIQUE ON GEN. SAM HOUSTON'S TERRITORIAL SPEECH. We extract the following notice of the "old he ? i. : c iu? r us specvu upuu mis iiiijjui turn tjucsuuii huim mr ( editorial correspondence of the Telegraph. We < have no use for such men. Those of our readers ' who have not read it, will be pleased by a perusal of this letter from Mr. DeLeon, who is in the city of Washington," and writes some very interesting i letters from that place. Speaking of the Senate, 1 he says: u The discussion was postponed on Friday to give an opportunity to Gen. Sam Houston of fir- | ingolf his gun on the territorial question?which | made a loud report, but proved to be loaded with , powder only after all, and which will probably have t the elfect in Texas of serving the "Hero of San , Jacinto" as the guns described in Iludibras? " Which, when aimed at duck or plover, j " Bear wide and kick the owner over." The speech was the tamest, flattest, most florid, pompous, and egotistical effort, that ever wearied the patience of an audience, or put an extinguish- 1 er on an undeserved reputation. The Texan has ' the advantage jof a striking preeen.ee, and is an ^ imposing person altogether, He is a big, burly i man?with a broad chest, good lungs, and a strong | voice; but a worse manner and more affected de- ( livery it is impossible to conceive. His speech it is almost impossible to convey a ? correct idea of; for most of it was "sound and lu- I ry, signifying nothing;" but ho did contrive tode- i tine his position as antagonistic to any action, or t any measures which might by any possibility affect the permanence of the Union. A more thorough disclaimer of sympathy with the agitation at the ^ South for the maintenance of her rights, could not . have been made more emphatically than by him? 1 and his fulsome flattery of the North contrasted f strongly with his coldness to the section which he i pretends to represent. I The speaker's speech was so pointless and in- ( conclusive that comments upon it would only be t i waste of words?but as a publication will be , made of what will purport to be the speech, and which will doubtless lay dowh the platform more ( nlainli- nn which hn is tn stand, nr fall, it mav be ' well to defer further comments until it is corrected, revised, revamped, and ushered into the immorality of type. The only word by which the spoken speech :ould be designated, is skulking. It was deprecatory, apologetic, and whining throughout; there was nothing bold and straightforward in it?but, on the contrary, it was a most politic and diplomatic avoidance of all that could tend to touch i . C1 .1 5 Northern sensibilities, or stimulate sou merit pnue. The Union!?the Union!!?the Union!!! was 1 the burden of the whole song?the tune of j the monotonous sing-song for two hours dinned f into the ears of the Senate, and of an audience j that melted away gradually like the snow in spring. To eke out the allotted time, he quoted liberally r from " The Federalist"?from Washington's Farewell Address?scraps of newspaper poetry?and ( finally from the Bible !?the latter proceeding irre- f sistibly reminding his audience ot a certain per- \ sonaere who also could "quote Scripture for his purpose.*' The object of all this citation of authorities was to prove the inestimable value of the Unipn and the evil of bickering among brothers? I Sam Houston playing the part of a nuesionary | preaching peace and good will to all men, and patience under insult and injury as the best remedy for the crisis. Indeed, he did not seem inclined to ' admit that the SoUth had really any just cause of t :omplaint?sheltering himself under the wing of Benton?to whom he gave assurances of his most listinguished consideration?and fooled to the top >i*his bent with fulsSme adulation. He took occasion to declare his opposition to the Southern Address, and paraded his refusal to sign it as a patriptic desire to propitiate our Northern friends ?and attempted also to assail the Southern Contention, but was promptly choked off by Messrs. foote and Davis, of Mississippi, and Mr. Butler, of South Carolina. He then attempted to read a leo ure to Mr. Clemens, of Alabama, upon the impropriety of dealing so harshly with our friends at the Sortn, as that Senator had done, but a short and tharp rejoinder from that plain and strong-spoken epresentative of real Southern leeling, drove him iff discomfltted?and he took refuge in declaring n the most guarded terms his entire opposition iu eutirnent to Mr. Calhoun, whose absence and sickness he deplored in good set terms and doubtess iu great sincerity?there being so much love ost between them, since Mr. Calhoun openly detounced him last spring. He was placed indeed in a most perilous and at he same time most ludicrous position, - Wilting o wound and yet afraid to strike"?he was drju.t o explain away by piecemeal every insinuation vhich he threw out against the motives or the ation of Southern Senators or Southern Stales.? dr. Foote most blandly compelled the retraction of miendos relative to the course oj Mississippi?Air. lelferson Davis repeatedly and sternly pim.ed hint town to explanations which explained away uU neaning whatever?and finally denounced what in designated a the injurious detractions" ot Ifoe Senator froin Texas, conveyed by iuuendoe, t? he possible influence that South Carolina utigUt lavehad in originating the .MissLsippi call lor a Southern Convention, .dr. iluller also seized the iccasion to correct a common error in reference to he origin of the meeting that led to the adoption il'the Southern Address, and gave the reaihuiorjr flm ll./l fA t lull IIItttAPfnilt /I I1IC HlOlSHCjJa WICLl ICU lU IIIUI iwv*vnent. So far from its having originated with. Mr. Calhoun, or having been suggested by him?he vas not made acquainted with the proposed meetng until the preliminary proceedings had beeu aranged?the tirst suggestion on the subject having )een made by Messrs. Hunter, of Va.; Foote, of diss.; and Turney, of Tenn. They consulted Mr, Butler and others as to the expediency and propriity of such a meeting of {Southern members; aust ivas carried round for signatures to ascertain who iverp in favor of the proposition?and as it seemed generally acceptable .dr. Calhoun also was notified, md the meeting took place?he not having any jreater agency in its inception, as above stated. The drift of Houston's inuendos was to fasten >n Mr, Calhoun the paternity of all these Southern neasuriS, and to decry the Convention as proceed* ng frotn the same source?in which he was sig? lally defeated by the production of the facts ot the :ase?and when pinned down was torced to evade i distinct allegation of what he evidently intended o inter. The good temper and the unruffled patience yith which he bore the interruptions, me cross luestions, and the cross-tires poured upon him yere very striking?proving his possession of that 'discretion" whicuFalstaff terms " the better part >f valor." The finale of the speech was a flourish over what lehad done for the South?u wresting spoil from :aptive princes"?tribute from conquered provinces ?enlarging the National domain?winding up ,vitli a parucular request addressed to posterity, or he ladies in the Gallery?that the relics of this iepublic should be piled lip as a monument over liuiself and the Houston tamily in general?sinee le never could, would, or should survive this Union. He seemed much relieved after throwing off no liuch gas?and so were the audience, who apnauded the conclusion ! the only part they did ap>laud. And the present writer trusts the ne.\t ipeech Mr. Houston delivers, he may not suffer mder the infliction, In the course ot his speech, ie made the broad assertion, that for his part, ** he ecognised no North and no tsouth?he acknowledged or regarded no sectional divisions. He look* ;d on this as A great Malum?as an Union one jnd indivisible, with no factions or divided inter ?sts?and tor hit< part, lie went Jor the Union and 'he extreme Union?nothing less. If this be not consolidation in its strictest sense? in utter denial of State Sovereignty, and a declarition of submission to the will of a majority, then words have lost their meaning, and Air. Houston is reliable in this crisis of Southern affairs, to which le obstinately and Ostrich-like shuts his eyes. But 1 have said more of this ejj'orl than 1 had inended at present, and will conclude by remarking, :hat if the Texan is a groat man, then the article nust have depreciated wonderfully; and if he in i true one to the South his own professions and his practice will have to ditfer very widely indeed. In the House, the war of words on the Revenue, joes on. D. Finn.?About hull'past 8 o'clock yesterday norning our citizens were startled by the cry of 'fire" and the ratling of bells. A general rush was made in the direction indicated, where the oof of the two story residence of L)r. A. Maiov, was found to be on fire. By die exertions >f those first on the spot the fire was soon extinguished without much damage to - the building, f ortunately the roof was quite damp which much etarded the progress of the fire or the building would have been consumed.?Cheraw Gazette. Grf.at Cotton Speculation.?It is stated hat a greater speculation is at this time raging .. . -XX . xl ? _ _ t_ ... 1 * i.1. ^ n coiioti man nas Deen Known since me great speculating year of 18*25. The New Yorkers, n particular, have the fever in its most violent "onn. The article has risen, in that market, two :ents per pound during the past two weeks, and it the rate of a quarter of a cent per pound, each tveek, for the last sixteen weeks. It is now just jne hundred per cent, higher than it was a year igo. The sales of the last fortnight in New t ork have been 49,935 bales; being the largest >usiness in that market for any fortnight on re:ord. The sales are chiefly to speculators, who become excited and continually bid up the mariet against each other. For the present, foreign irders for cotton have ceased; the New York n ice being several cents in advance of the Liv:rpool market On the strength of this circumstance, the Hartford Times states that several r> 1-a 1 i . ? uoston speculators nave sent out an order to mrchase *25,000 bales in England; and there is ilso a rumor that a combination was forming in Sew York to despatch an agent with funds, and iweep the Liverpool market clean of the article. Fhe low interest of money abroad (1 1-2 to 2 per ;ent. per annum) favors an operation of this kind, md if carried out it will astonish John Bull somevhat?Lowell Courier. " I thought it was Call-Forney that was try in' :o get in," said Mrs. Partington, as she read the ast ballotings for Clerk in the House of Representatives; "but it's Mr. Fume v. But I 'snose its anonymous to the same tiling; they're only dropt the Proviso."?Utica Gazette.