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tfeireprobation oCthe humane ami'just of all j eiriftzad nations. - Qnr abhorrence to it, is cleeriy expressed^ <rtirco|pt>tu?#n and laws. x ffor has it rested alone upon t4ti declaration t <jf our poli||^ buftfias long sincere en a subject of representation to tiio Government of the United- States, our ministers appr sing it of ev? ry fact Jyhich would enable it to devise sucti ; meang^s woujd prevent either the iand oF^ricaos into our coun try. . / A . ^Phe navtl "force of Texas, not being in a sitiratjo^-lo be diverted from our immediate defcnq^ sufficient reason why the Goverynqp t of the United States and England, j>rrt^i^?tDpIoy such a portion of their force in the Gulf, as will'at-Once arrest the accursed trtiftf redeem this republic from the sus picion of connivance, which would be as detri mental to its cl aracter, as the practice is repugnant to the feeling* of its citizent. ? Sqcwd the traffic continue, the odium cannot rest upon us, but will rerrain a blot upon the C^cotch" oft of nations who have power, and witfrtold their hand from the work of hurnanU ^._Tr It* will be proper to remark that our attitude m reUtion to the subject of annexation to the &. bt America, has undergone no important change since the adjournment of the last s es? ; wdn of TJongress. Our ministers at Wash* ingtoo City gave to tlie subject of our national (JorfCerna^cir able, zealous and untiring, at teri ikm,andmach credit is due to them for the char acterwhiph they sustained in advocating our in at a foreign court. The period at which the Congress of the United States was com Detledlo adjourn, prevented any action of that ^vegnfoent, relative to annexation. It will it is hoped, bo referred to the action of the next sefs.Oh, and receive its early determination. " lathe mean time it will be proper for Texas to pursue a course of f olicy which will be ben eficial lo her 1a a character substantive, and to settire her existence and her rights, without reference to contingencies. For it is not pos ishle to determine what are to be her future rela tions tothe civilized nations of the globe. Bles aed|with a soil the most fertile,and climate the most delightful and salubrious, Texas must attract the attention of the whole commercial and manufacturing nations of the world. t Her cotton, sugar, indigo, wines, peltries, Ifye . stock and the precious minerals will all become objects of mercantile enterprise and acuity. .Nor can we lose sight of the important pro. duction of the live oak. It is but reasonable to say thai four fifths of all that species of lim ber, now in the world, is to be found growing ia Texas, while many millions worth of it is daily decaying on oar cultivated fields. To establish such intercourse with nation friendly to us, as will induce them to seek our market with their manufactures and common (Hties, and receive from us in exchange our productions, will become our most imperative . . , Texas with her superior natural advantages must become a point of attraction, and the policy of establishing with her the earliest re atiocs at friendship and commerce will not esdtpe theeyeof statesmen. jfftgland has not disregarded our situation thus far, nor can we believe from the indica ti^ps already manifested by her, that she is to regard our prosperity with unkind feelings of susptctoaor indifference. Should our resources be regulated by a wise and politic system of legislation, we must " independent and become a prosper Obr relations to Mexico since the last ses sion of Cpogressjiave undergone no important change* have over. ures been made by eith er nation. .. Texas, confident that she can sustain the rights for which she has contended, is not willing to invoke the mediation of other pow ers; while Mexico, blind to her interest and her future existence, seems determined on protecting the war, without regard to her internal commotions. Revolution is stalking abroad throughout her land, while she is una. b!e to defend her frontier against the incursions of the bands of predatory Indians on the fron tier o? the &io Grande fiom Santa Fe to Matamoros* Earl} in last winter a correspon dence was opened by the Secretary of State with the Mexican Consul at ^Jew Orleans, containing propositions to exchange prisoners, sa &r as the number of Texians would extend, and- then to release the excess of Mexican prisoners on parole. ?Notwithstanding the humanity and liberali ty of this oiFer, it has met no official response f rom that government, it seemed to me, that it wod^bn in accordance with the civilization oftht age, to. release ail the prisoners, and to permit them to leave our shores so soon as they- can do so. In the meantime I have learned that our citizens, as well as the prison ers, at Matamoras, (amounting to thirteen in number,) have been liberated. - It is impossible for me to account for the apathy with which Mexico treated the subje;t^nu her willingness lo permit a portion of the bravest troops of the nation to remain prisoners in exile, when a just policy would at once have restored them to their country and their homes. Congress will no doubt find it necessary to revise the laws of the Republic, and to direct ibat a digest be made of those of Coahuaia and Texas so far as they may be useful to the establishment of rights acquired, under them. It will be seen that the adoption of the com mon law of England, with modifications adapt ed to owr situation, is required by the provisions of the constitution. . . , . Nothing can conduce more to the order and stability of a government than the simplicity ?flaws, the proper definition of rights, and their impartial and consistent administration. 1 will not close th s communication to your honorable body, without presenting to your consideration, the c'aims of citizens of the United Slates who acquired, as they conceive ed, boaa fide titles to lands in Texas. It iff due to many of those individuals, to suggest, that their gen rous and manly efforts in behalf of our cause, will entitle them to the most favorable decisions of congress. Their means have aided us in the darkest Sours of our probation, and recently have aid ed rn dispelling our embarrasments. Such men deserve the gratitude, as well as the jus tice of our country. While reflecting upon the dispensations of an Almighty Being, who has conducted our | Uiiough scenes of unparaleiled priva ;ion, massacre and* suffering, it is but gratitude and sensibility v to- render to him our most de vout thanks, and invoke his- kind benignity and foiu/e paseidenee, that he wiH preserve and I'overn us as a chosen people. SAM. HOUSTON. Houston, May 5, 1837. ?? - i Tfce Globe wonders why the immense quan- j tity of speete aw this country cannot circulate in seasous of pressure like the present, *w stead of circulating" m prosperous times when ;{?*re is less* occasion for it. The Globe is .iboot as wise as the negro who broke his shin against a post in a dark nighU *4 wonder,1* V*d Sambo, "why de sun no shine dis dark ng?*nd not always keep shining in de day t nie do need bim:" ? Louis iiile Sow From the Charleston Mercury. LOUISVILLE, CINCINNATI AND CHARLES TON RAIL ROAD. In answer to a call for information through the columns of the Mercury , signed ''Many Stock holders*" the President, and such of'the Directors as are now in this city, have the honor to state for the information of the Stock- I | holders generally. 1st. That Major McNeill, a. id CapL Wil ! the Chief, and Associate Engineers, \ were appointed, not by the President and Di ' rectors, but by th?- unanimous vote of the Com pany, at the meeting of the Stockholders, held | at Knoxvilie, in January last. 2d. It has nor been decided, that the Chief | Engineer "is to receive $20,000 per annum ! for occasional services ? his Associate about one half that sum ? and the President and Di ? vision Subordinates, in proportion ?" The j compensation of the Chief and Associate En ! gineers is to be fixed by the company at their ' meeting at Flat Hook in October next, when the services to be performed by these officers will be defined, and prescribed, and their sa laries established. Tiie Board in directing the Chief Engineer to make the proper organiza> t:on of the Corps, directed, "that in fixing the grade and compensation of the Assistants, lie will use a sound discretion, and observe as much economy as is consistent with securing the services of the persons fully competent to the task.** It was furshec resolved, "tbat the Board of Directors do not feel themselves au*? thorized to fix definitively the compensation of any of the officers until the meeting of the Company on the 3d Monday in October next, out that the Chief engineer in concurrence with the President, may agree on a reasonable compensation, subject to the approval of the Company, and that with respect to the com pensation of the Chief Engineer, no final ar> rangement can be made until ihe meeting of the Company," The President receives no salary , and his services to the Company, whether important or otherwise, have so far not cost the Company one cent . As to "the Assistants/' Major McNeill is now engaged in organizing and arranging 1 hem into a Corps, and assigning them suitable I compensation, subject to the approval in the fcrst instance of the President and Directors, and finally to the Company, as above mention ed. Major McNeill has been expressly in structed to perform this duty with the strictest regard to economy , consistent with the efficient performance of the important duties required of these officers, and no doubt is entertained, that the arrangements which will be made in this respect will be satisfactory to the Stock holders. These answers embrace, it is believed* all the information called for by "Many Stock*, holders.' The truth is, that nothing has been done, which was not expressly ordered by the Company, at their meetiog last October, when a large majority of the Stock was represented, and almost every question was decided by an unanimous vote. At that meeting it was de cided, that no call for any instalment should be made, and that nothing further should be done,until the meeting in October next, except to organize the several Brigades of Engineers, and to cause all the routes to he surveyed, "so as to be ready to report on the final location of the road, at the next meeting of the Com pany," To these duties, the President and Direc tors have strictly confined their attention. ? Instruments have been procured,the surveying parties have been for some time in the field, and the work is going on industriously and satis factorily. The President wil here further state, that while lit has felt himself constrained to accept the office, from, an assurance that no other ar rangement satisfactory to the Stockholders generally, could be made, he shall be ready to surrender his trust on the slightest iitfimation that he does not enjoy their entire confidence. With regard to compensation, he is perfect ly willing to leave it to the Company to say. whether he shall serve them gratuitously , or otherwise?and he should certainly not ex >ect or requite what any "Stockholders" could" pos sibly regard as unreasonably. The President is free to confess, however, that in porta nt as he deems the great enterprize, of connecting the city of Charleston with the West by a Rail Road to be, he would abandon it at once in despair, if he .could be induced to believe that the President and Directors, instead of being upheld and supported by the Stock holders, were to be watched with a jealous spirit and looked upon with suspicion. If instead of beingsustain ed by that generous confidence, which is essen tial to the succes of all great enterprises, they are to encounter distrust* it is easy to foretel the result. In the present circumstances of the country, nothing can be easier than to shake public confidence in any great work. ? It is not to be concealed, that tne difficulties before us, are well calculated to paralize the energies ofthe community. Many Rail Roads have been already suspended, others it is known cannot he much longer carried on. It may therefore happen, that our great Rail Road may share the fate of others. We have so far, however, advanced prosperously, and our present condition is peculiarly fortunate! The objectionable provisions introduced by Kentucky into the charter, have been repealed by her Legislature, and the amendment pro posed by South-Carolina adopted! The Act passed by the Legislature of South Carolina, conferring Banking Privi leges on the Company, has been concurred in by North -Carolina, and wants but the as sent, either of Tennessee or Kentucky to be carried into effect. Such a Bank if now es tablished. would furnish the means for an extensive commercial intercourse between the South and West. Indeed, it is not easy to perceive how this trade can be carried on otherwise than by means of Bills of Exchange and Bank Notes, drawn and issued by an In stitution having corporate existence in several States. In the mean time, our Brigades of Engineers are ail organized, and in active and successful i operation along the whole line, executing sur veys directed by the Stockholdors. At their | meeting in Knoxvilie, the Company informed the D.rectors that on these surveys "too much attention could hardly be bestowed;" that "a hasty and inconsiderate decision may save present expenses, but it may be followed by the expenditure of millions to overcome diffi culties which might at first have been avoided; they regard it therefore as a true economy , to incur in the first instance all the expense which may be necessary to a complete exa mination and survey of the whole ground, bf the most skilful and experienced Engi neers*" The-time that must necessarily elapse before these surveys can be properly executed; will, we trust,, enable- the country to> revive from its present embarrasments* No fucthe* instal ments will be called ibr;, until this chaoge shall be produced in Che condition of the country, and: the practicability and cost of the Road shall be clearly ascertained, In that event, with a subscription ot one million of dollars on ! the pant of South-Carolina, and two-thirds ot the expense ofthe Road within her own limi ts, assumed by the State of Tennessee, for which she fctanda pledged with a B?.uk having a coporate existence in three or more States, we should certainly have a reasonable prospect of success. At all events, it is to bo hoped that no premature abandonment of the enter prise?no jealoud spirit of distrust? no *iespon ? dency ? but above all no groundless-^ijputntion of unworthy motives, will be allowed to disturb that hannonv, defeat those efforts, and paralize tiiose energies on which the success of the work entirely depends. Let us not too soon despair of the country, nor the true means of restoring the prosperity and securing the hap* pinees of' the people.. . ' I ROBERT Y. HAYNE, President Louisville, Cincinnati and ? Charleston Rail Road Company. Charleston, May 31, 1837. FREE SCHOOL OF SCULPTURE. To the State Authorities. F. PETTR1CH, Sculptor, being perma nently established in the City of Washington, would inform the constituted authorities of the several States of the Union, that it is his ins tentiou to open a Free School of Sculpture and Statuary in the Metropolis of the United States. With a view, therefore, to the crea t on of a Seminary of native artists on the na? tive soil, he invites the selection of one youth from each State of the Union, to be designated by the Governors respectively, it will be required, in every instance, that the candidate be a native American, of good natural abilities, between the ages of fifteen and seventeen. ? It is also desirable that he shall have received, at least, as such education as is usually given in the ordinary schools ot the country. F. Pettrich engages thoroughly to instruct twenty-six pupils, without any remuneration, in the art of Sculpture and its adjuncts. The only care of the student will be to provide for his personal maintenance, during the term of six years: this period will be amply sufficient to give him a theoretical anJ practical know ledge of the noble art of Phidias and Michael Angeio. It is within the range of possibility that some youth may be found, richly gifted by Nature, but precluded, by the force of circum stances, from availing himself of this offer, such F. Pettrich would recommend to the gen erous and enlightened assistance of the patrons of genius and the friends of the arts, barely suggesting that their munificent aid m ght foster some high, but unfriended intellect ? some latent, but commanding mind ? in the mastery of an art, which, in the rapid advan ces of this country, is distined to constitute a | marked feature ix> the intellectual character of the nation. Republics ? and history warrants the assertion ? have ever given the proudest specimens of proficiency in the arts. Next to the examples of lofty virtue and the memory of patriotic deeds, the b-*st legacy which a nation may hand down to their posterity is the living features of those whose lives have been a series of triumphs in the cause of freedom and patriotism. For the purpose, therefore, of givinga new direction to the quick and creative genius of America, the mature consideration and friend ly aid of the lovers ofthfe country are earnestly solicited. All communications, or calls for information, postpaid , will meet with prompt attention. ? Direct ? Washington City, to Ferdimand Pettrich, Sculptor. 0^7" The School will be opened irl the be ginning of October next. Editors throughout the Union, favorably in clined to the arts, are requested to give the above a few uisejtions. New York, May 31. The Remedy. ? We begin to dispair of the Republic. VVith all our confidence in the en ergies, the enterprise and resources of . our countrymen, we fear that the four years reign of corruption, empiricism and ignorance which is yet before us, will suffice to sink us to the lowest depth of national misery, as we are al ready at the lowest point of national degrada tion. So far from shrinking back from the frightful spectacle of the ruin their evecrable policy has brought upon the country; the ad ministration is assuming a tone ot dictatorial lecklessness, in the midst of the agonizing struggles of their victims, which it is absolute intolerable to contemplate. That precious by organ of the government, the Globe, is daily growing more insolent in proportion as the dif ficulties of the people increase, and instead of the subdued tone which it manifested when the catastrophe first took place, and it invited a suspension of parly ho tilities in the common calamity, ? it now urges an eternal war upon the commerce and industry of the nation. ? Delenda est Carlhagot is its motto. The mer cantile community must be utterly prostrated and annihilated before the principles of the administration can be said to have fully tri umphed. The "rag barons," as the court phrase is, meaning thereby all who own bank stock or trade in bank bills, it declares must be exterminated, before the golden age which its masters have promised us, can be expeeted. Its ravings upon this subject are so purely absurd that if it were not for the diabolical and fiendish malignity by which it is actuated, which is not attempted to be concealed, we should regard it as a favorable omen to the country that such miserable dri veilings, such contemptible and sickening fooleries, were patronized by the administration, ? confident that it must end in their entire and irretrieva ble overthrow. But alas! for poor human na ture ? aud the fickle tenure of human liberty. Backed by the det stable malignity which is constantly appealing in the name of democra cy to the worst passions and the lowest igno?? ance, it is evident that the contest is still to be carried on as fiercely as ever against all i the pursuits of enterprise and industry. The me. ting of Congress, compulsory as the call was, is to be the signal for new "experiments." Already we are told by this official expositor of the intentions and views of tin; cabinet, that the Government -can manure its own collec 4 o : t ons and disbursements, without any recourse to the banks of all. That it can by means of the collectors of the revenue, compel the re sumption of payments h the ''constitutional currency" ? that its "drafts" on the collectors will answer all the purpose of remittance; and that in short it will be its own banker, in spite of the "rang barons" and "Biddle's bank "the fraudulent merchants" and all the other ene mies of the "hard money system." And this is the hopeful "remedy" which thegovemment offers to a suffering, insulted, derided and de luded p;ople, for the ruin it has brought upon them. Now, if upon the appearance of that most wicked and fatal 'specie circular' ? we predict ed in the strongest language, the perturbations and the catastrophe which followed ? if we then entreated and conjured the Executive to retrace that Step ? we do now with even more confidence prophesy that the 'remedy' here announced by the official organ, will, if a ma jprity of Congress can be servile and ignorant euough to pass such a bill, overturn the whole financial system and currency of the country, and in less than six months after the first at tempt to enforce it, bury the Government in the ruins it has itself made. Of all the insane projects .that- have ye! been started by our cur rency doctors at Washington, this is the most insane ant}: destructive. Sureiy they have one and all eatened of the insane root,todare to pro- ; pose such a 8chem to an impoverished ? in a \ few montbir, we fear we shall have t.? add ? a desperate- people. Yes ? at the very moment j when tiie wretched authors of all our calami- j ties ou?ht to-fly to the wilderness, and hide , themselves from the popular contempt and i indignation that has overtaken them, they are < proposing new and more cruel tortures for the j community. This attempt to insulate the j Government from the common lot of the citi- ' zens, by compelling payment to them in gold and silver, is so much worse than any and all j the other schemes that they have heretofore engendered, that we shall but feebly characte- | rize its tendency, when we say that if it shall j be carried into effect by a subservient House of ? Representatives, and a self degraded majority j in the Senate, the last knell of our national prosperity will have been sounded. That will indeed be a triumph of the hard money system, which will prostrate all other systems and in* terests, except the system of corruption and unbounded despotism. The effects of it, if submitted to, will be to reduce our country tc the level of Spanish poverty and degradation. Why, even Spain. would revolt at such op pression. We shall, hereafter, point out more particularly in detail, the inevitable conse quence of the daring innovation winch it is proposed to introduce into our system of Gov ernment. If it is persisted in, the blood be upon the heads of tne inventors. We shall then have left but one other 'remedy,' which, think God, has once proved effectual, and may again, if we are not slaves fit to be bought and sold? (Jour. Enq. From the Richmond Whig. O^T Every brainless parasite in the land echoes and re-echoes the cry of the knavish leaders of the Administration party, that "over trading is the cause of the evils which now af flict the country." This charge of overtrad ing cannot apply to every business tnan in the community ? yet ev< ry one feels the pressure. Even if it were admitted that the spirit of spe culation had been carried to an extraordinary and unjustifiable length, is it not reasonably [ and just to trace this spirit to its legitimate origin] Is it not proper to inquire how that spirit was engendered, stimulated and madden ed? Cannot the unnatural stimulus be readily traced to the measures of the Government. ? A brief review will show. The Administration in its zeal to prostrate the United States Bank, deranged the monied concerns of the country, and destroyed com mercial confidence, by placing the public funds in the State Banks, most of which institu ions have proved themselves irresponsible, if not utterly insolvent. Upon the funds thus destri buted; the Pet Banks made large ioans to favorites, who desired to get fortunes by short cuts. When the United Slates Bank charter expired, the Legislature of almost every State in the Union from which capital was with drawn by the winding upofthe national insti tution, increased the local Banking Capital to a fourfold, and in some cases, to a tenfold amount. These, too, were mostly Jackson Legislatures. Here, then, was a strong temptation to the ever-trading now so pathetically deprecated. Wherever a local Bank was created, money was loaned to speculators as w?-ll as regular i traders? and the Pits, (as recent events have fully proved,) exceeded all reasonable limits in their dispensation to the worshippers of power. The funds of the Government were profusely let out to land speculators; and to aid them in their operations, the famous specie ' order was issued, by which the precious metals were diverted from the ordinary ai;d proper cbfltonels of trade. This, too under the guise of repressing speculations. During these opv;rations, whilst the Admin istration demagogues were boa? ting that the local Banks could conduct the exchanges of the country, even better than the U. S. Bank, the humbug about hard money was gotton up. "Rag money" was decried, and the time was pronounced near at hand tvhen every man would have his silken purse bursting with the weight of Benton's "yellow jackets" A few of these glittering coins were passed about on election days, but rarely could one of them be seen in the ordinary transactions of business. The very hard money which the Jackson pol icy had vanished, was impudently dubbed the "Jackson currency," and a universal distrust was excited towards the|very Banks which were to have carried on all the operations of trade and exchange, until every Banking house in the country was compelled to shut its vaults. Can a commnnity of even ordinary discern ment, fail to distinguish the remote, the im mediate, and, we fear, the enduring cause of the evils which we suffer? Those who cannot discern the true cause, deserve to be pitied for their stupidity, or despised tor thfir knavery. ? There is no escape from the consequences of a just deduction. From the Charleston Courier. Alabama. ? We have been favored with the following extract of a letter, recently received in this city, from a highly respectable Alaba ma Planter : ? "The pecuniary embarrassments of the peo p'e of the whole South-west are without parallel or example ; not greater than I had expected however, for I have been fully aware of the rcckless spirit of speculation which pervaded every interest in 'he country. ? There is such an entire want of confidence in the soundness of individuals, that money cannot be procured on loan, but at an interest so usurious, that the borrower would seem un4er the singular delusion, of voluntarily exhausting his resources, with a view of pre serving them entirely. Our money institu tions ?are on the verge of bankruptcy ? Every substantial mercantile house in Mobile has suspended payment ? few of thein having th ; means of averting entire failure. The farmers (with few exceptions) are so deeply involved, that no probable change of circum stances, can prevent the sacrifice of property, to the ruin of a large portion of them. ? What aggravates the evil, is that the necessa ries of life are scarce and dear. Cotton has been the sole object heretofore ; and the con sequence is, that the country is without corn. Those who have it will not sell^without imme diate payment ; hundreds, thousands, who want it, have not tne money. On some plan tations, nothing is given cut to the negroes, or so scanty an allowance, that they are allowed time to procure what they can, and as they can. Farmers will purchase cotton at 18 cents, on a credit, payable out of the grow ing crop, to sell the same at 9 cent* , for no other purpose than to procure tin} means of purchasing orovisions. "It is very common throughout the country ^o meet with farmers who, within two years past, have doubled or trebled the number of their negroes by purchases at from ?1,200 to $1,600 each, who yet owe for them. "Our Legislature will convene on the l?Jth of June to adopt measures for the relief of the citizens The plan which will probobly be adopted, is that of issuing State bonds, by which the State will incur an immense debt, with a view of affording immediate facilities to those who are under-embarrassments. I think the Le^islaiuro should not interfere at present but leave it to time and circum stances to devclope the proper remedies." F-iori the Boston Atlas. what has brought us to our pre sent SUFFERING. "Hurrah for Jackson!" "D n the Bank!" "All who do business on borrowed capital ought to break." "Perish Credit ! Perish Commerce !" "The United State* Bank has failed to 1 introduce an uniform currency." "Crush the monster !" "Hurrah for Benton Mint Drops, and the Hard Money Boys." t4The merchants are the enemies of the* country." "When a merchant fails and becomes poor, we make a good repulican of him." "Better that a torch wore nppilcd to mil the AJlantic cities, and that they were burned to the ground, than that the Depositee should be restored !"' "The king can do no wrong*" "Hurrah for the Hero of'New Orleans !" "Raze the Bank to the ground and strew salt upon its ashes." "Biddle's Bank! No Rags! Gold and Sliver! D n the Monster!" "Republicans love Gold." "All who borrow money are speculators and gamblers ? and when they fail there is no pressure that any honest man can regret. "No one has a right to do business who has not inherited a good plantation ? well stocked with negroes ? or has received by the favor of fortune in some shape or other actual specie property. All others were born to be hewers of wood, and drawers of water. The idea of fighting the rich man's capital with the poor man's credit ? may have done very well in the days of other Presidents, but I am determined to put a stop to it. The poor shall always remain poor ? and the rich shall do all the business and make all the money." "I TAKE THE RESPON8IBILTY !" Pennsylvania. ? Gov. Ritner has issued a proclamation, in which he refuses to call the Legislature together, as he has been request*. I ed ? "Because the evils under which thegood peo ple of this Commonwealth labor, have not been produced by the action of '.he government ofthie State, but mainly by the unnecessary and un authorised interference of the General Gov ernment, with the currency and moneyed transactions of the country; and, therefore, the constituted authorities of Pennsylvania cannot now, by any active measures, arrest, or ma terially mitigate the misfortune, relief from which must come from the same source with the injury ; "Because all the measures which have been proposed to be adopted, by the State Legisla ture, to meet the emergency, would, in my opinion, rather increase than diminish the real difficulties of our condition." The three objects lor which the Legislature could be assembled, he sets forth as, 1st ? " Authority to the Bunks to issue notes of dtnominalums less than Jive dollars , would be j the infliction of a great permanent evil to alleviate a temporary embarrassment, and would only be the substitution of the lower denominations of a circulating medium for the higher denominations of the -<aine, without withdrawing any of the latter from circulation or giving to one stronger cla ms on public confidence than the other, thereby increasing aggregate amount of bank notes, without in-i creasing the amount of specie or property re presented, and thus inevitably^depreciating the actual value ofthe existing representative cur rency. '4 The passage of a law ta save the forfeititre of the charters , to which the banks will become subject, by continuing to refuse spscie for their notes, would only increase and render mere lasting the mischief. The instant result would in all probability be a vast and ruinous increase ofthe bank note circulation ? a correspondent diminution of its real value ? a dangerous fa? cility of obtaining bank loins ? a sudden rise in the nominal value of all kinds of property ? a further increase ofthe mad spirit of specu. lation ? and finally, tne incurring of a real amount of debt, which must afterwards be paid in hard money, dollar for dollar, to the min of thousands. " The passage of a law for the stay of execu tion in case of debt , besides aggravating the evils just named, would accustom our citizens to a disregard for the obligations of law and for punctuality in their dealing, and would beget a familiarity with the dependence of ; indebtedness, wholly inconsistent with the character of Pennsylvania citizens. For these reasons, 1 deem it inexpedient for the present to convene the Legislature.'' SEVEN DAYS LATER FROM ENGLAND. New York, June 2, 2 o'clock. We have just received by the Pennsylvania, Captain Smith, from Liverpool, our files of English papers. By this arrival we have London dates to the 24th, and Liverpool, to the 25th of april, both inclusive. The most important matter is the state of the money market in England ; we give the latest articles we have on this subject, from a Liverpol paper of the 25th, and London of the 24th April. The news is less disastrous by far than we expected ? great hopes being built upon the action of the United States Bank. ? The latest advices from New York were ofthe 3d, when the failure of the Josephs was known to be complete, and had been follow ed by that of heavy houses in New Orleans, but the crisis in New York and the country generally, had not then been reached by a long distance. We must still look for ward. It will be seen that the U. S. Bank bonds issued for remittances, were in high credit at Liverpool; their reception in London had not yet been ascertained. ? Com. Adv. Liverpool , April 25. ? During the last week, there has been ?orne extensive failures fLftionTgt the holders of Cotton and other articles 'of de preciated produce. The dead loss has been frightful. All the failures far the last fortnight have arisen from this cause. The Sheffield trade suffered considerably, but not to the extent of ^jany others. The table ! knife trade suffered most. ' 1 The plague on the 25th ult. was ceasing at 1 Constantinople. At Manchester, the pressure had begun to , pro j uoe serious difficulties. A mob for several ' days paraded the streets, and demanded bread ! ofthe shopkeepers, which in most cases was given th?'in. ' The Veil ce Gazette of the 13th says, news i dated the 12th had been received from Trieste, ! that m i he night of the 11th a terrible fire j broke out in one of the richest warehouses at : Trieste; when the Aviso, which brought the I news, left tf. was said that the value of goods 1 already burnt was two millions of Austrian I livres. So ??e lives f ad been lost, and the fire | was still burning. We must hope that the i statements are exagerated. ? Jourdu Cowmerce j April 21. From the Liverpool Time*. j The particulars of the most gratifying ar rangements made by the Bank of the United States, equally for the accommodation of the American mei chants and the trade of this country, will be found in another column.-r This bold substitution of the undoubted credit of the Bank of the United States, in ihe L urO pean markets, for the doubtful credit of ytfoate firms, has already had a wonderful eftect in Liverpool, and no donbt in London. The reN mittancea in these bills are as good as cas bf minus the interest, and as they must, at the end of the periods for which the bills are drawn, be paid in cash, tliey will have the effect of bringing specie back to this country, and of enabling the Americans to pay thrfr de&ta in the easiest manner. Had not the managers of that ** never auffi-' ciently to be villified monster" of the Jackson men, the United States Bank, bit upon thia ptan of payment, all persons indebted to this coun try would either hare been compelled to remit gold immediately or to have felled* In tbtf ruinous craeh produced by this stale of things/ out of every ten hooves possibly one might have been abfc to aenqje together grid in time/ while the remaining oineyeveo tbouff b solvent, had failed. The arrrtng'e^DUbereforefthough a great advantage to (Be Amencmt^ u^i iaf great to the merchants and manufacturers of England, a targe portion of whom will now obtain their debt at once. The United States bills tmwfgfel 6y tho Shakespeare and the Orpheus on Saturday are' principally, if not entirely, payable Ml tW house of Baring Brothers, in London/ Cotf-' aderable quantities o! them have beeo aold to some of the principal Liverpool bankers* at the rate of ?95 for the- ?100, that it, at their full nominal value, deducting five per cent per annum or interest. It is not impro-' bable, from the very iqfjroving state: of the' money, that they wHl shortly be sold for ?96' 10s. the ?100 or even ?96. They were bought in New York at seven per cent, pre mium, and adding to that premium five per cent, for interest, it gives a coarse of ex* change or JtilZ. on this country. It would be a great error to suppose that the immediate consequences of this arrange* ment are the only beneficial ones likely to result from it. By saving the merchants of America from ruin, it will save thousands of' the working classes of England from poverty and misery. Had the Bank of the United States allowed tin; most extensive market for* English goods to go to ruin, and all the established commercial relations between the two countries to be broken up, the manufto turers of England would have received-a bloar from which they would not have recovered' tor several years. Under this arrangement the demand for British goods will continue* steady, if not brisk, and in a very moderate time will regain a considerable part of it?* former activity. Upon the whole we may congratulate our readers on a considerable improvement in the state and prospects of trade, and though many difficulties have still to be encountered, yet they are less formidable than they were few days ago, and there is increased strength to meet them. V From the Morning Herald of April S4. City ? Saturday Evening, April 22. ? The : greatest anxiety continues to prevail iu the commercial interests connected with the trade to the United Slates, and the commercial advices received by the packet of the 24th ultimo, have not tended to relieve that feeling. The particulars ot those advice's were fully detailed in this journal this morning, and they have been corroborated by .the private letters which were received by that packet. Late, . however, this evening, an express was receive} !'? at the North and South American Coffee House, announcing the arrival ofthe Orpheus, at Liverpool, which sailed from New York on the 1st instant, and it may readily be im^? gined that no small degree of anxiety., pie* vailed for some time to ascertain the nature of the commercial intelligence brought by her. No commercial letters or papers have been, received here, but it is understood that, since the sailing of the packet of the 24th ultraxv several failures had taken place in New York, New Orleans, and other citietr. It isestima-* ted t lat the commercial failures in the United States hive already to amounted 20^000,000 of" dollars ; but the actual state of affairs on the other side of the Atlantic, cannot be rigfrtfy estimated until the nature of the commercial: correspondence, brought by this packet and her succcssora transpires. ? t. . The state ol commercial credit in the city has not retrogaded to day ; in fact there are symptoms of greater confidence, which, w& ' trust, will daily incre se ; aud we believe that the cautious conduct and prudential arrange ments of some of the American bovses, have tended much to the present improvement in the commercial money market. There can not, however, be any doubt, but that eventu ally the state of affairs of American merch ants will have the wholesome effect of destroy* ing many of the overwhelming monopoly* in connection with the trade, not only of the United States, but also with British Nortli America. As we stated some few days ago,, it is apprehended that the opening pf the trade to China and the East Indies, which has been so freely entered into by the Americans,, likely to create disasters even greater than those which have already* taken place. A* very considerable poition of time must there fore elapse ere the trade between this country and the United States can be resolved into a. healthy condition. ' ' j ' The accounts from the manufacturing dis tricts are any thing nut favorable. The inter*- ; ruption of our trade with America appear* already to be seriously felt, and the letter* state that thousands of people have been , thrown out of work, and placed, by the re?afe > of an artificial system of trade, upon the der mercies of the new po^r iawsk - In the British tiou^ef Commons on the-' 19th, a motion for an addiesatolhe King* praying aim not to renew the order in council authoring British subjects to engage in the * serv,ce of the Queen of Spaift, was negatived '* t?y a majority of 36, the vote being 242 and 287. The application ofthe French ministry to the Chambers for an appanage for the Duke ? de Nemours has been withdrawn, at the re-' quest ot the Duke and his royal father. ? The preparatio is for the marriage of the* Duke of Orleans were gointr on very actively ' Thechanbi?r of deputies had passed, by. a < majority of 258, the act, establishing his -aU* lowaoce, 2,000,000 francs per annumy l.UOCV*' 000 for wedd ng presents, and 300,000 per annum for the princess, in case of widojrhood.' The distress of tl:e operatives- was very great iu France. The trial of Meunier was in progress. FROM FRANCE. We have received this morning, by - the packet ship Charlemagne, Havre papers to the 17th of April, inclusive. The Moniteutof April 16 giveaa list of tho new French Ministry. Four of die minister ofthe 6th of September, remain in the cabin#, to wit; M. Moie, President of the Councifc and Minister of Foreign Affaires; Roeamefe, Minister of Marine ; Bernard, of War jft?n<fcx Martin du Nord; of Commerce.'1 tfc place of Gasparin, Guizot, Dnchatel 'and Penrilv the following have been appointed; M. Montali> vet, Minister of the interior^ Sal van dy, of Public Instruction ; Barthe, of ajfcU Lacave-Lapal^ne, of Finance. " > E ' This formation ot the Cabinet wan unexpeefc. ed. toth'e French public. Wc a private