Historical Newspapers of South Carolina

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Tr<m fie Richmond ^WST* C ORK ES FON DE NC E Halifax Court House, Va. July 3 d, 1838. Dear Sir.? At a tffeetmg of mauy of the Whigs of Halifax convened tor "he purpose, \*e were appointed a committee to invite you, 1 1 their name,to visit their coriuty od your re ! tiro to vour b^wie ui South Carolinat and tot (Jiue with them at their Co?rt House on ? such dav as may suit your convenience. We grve hut a feeble expression to their sentiments, when we declare to you that vour steady devotion to. aiwi *ble support of ? rirfcipfes dear to ail true W3j?gs your con jitanf, unwearied, and eloquent defence of the constitution when attacked by many and de landed by few? your efficient a"?d* manly re r stance to the tyranny and corruption of the s-HWt dangerous Admiriwrr*e?on which this r any (rther country has ever been cursed with, have called up feelings ef gratitude ;*nd respect whieh they would be delighted m have an opportunity personally to express t?*vou. \ At a timeHke the present, w &en they find many of those whom Virginia "has been nleased to honor and tru^t, falling one;by one from the faith of our fathers, they turn with an honest pride to 3 native born Virginian, who, in another laud illustrates, by is life ?nd his character, the politick creed of\he OH Dominion as ?he once was. Weree! fhatwe do no injustice t? t$ie sentiwwntsvwfe meeting, when we say that it is their earnest desire to accord to you a yet -more decided and unequivocal mark of the hig-h.estimat^oq which they place on your character ao4 -ser vices. We cannot permit this opportunity to escape without expressing our individ ual concurrence in these sentiments. While the South, now the weaker portion of- the confederacy, finds herself on every side as saulted in her dearest rights,* it is a source of much satisfaction to know that we. have such a champion as yourself on our side. ? We have the triple security of taleut,lntegri ; *ty, and a common interest. ' . Hoping that we no ay 'be permitted to re turn to the meeting whose organ we are, an affirmative response from you, we are with sentiments of distinguished consideration, Your most obedient servants. James C. Bruce, Thss. S. Flo*rnov, Wa. 8. Banks, E. Barksdale, jr. Thomas J. Green, Thomas Leigh, John S. Lewellen, Wm. Holt,. Wn. Bailey, P. H. Gilmer. . T- Bake*, Wm. D. Si rax, Thomas Davenport, . - . ? Committee t? correspond. Columbia* July .14, 1838. Gentlemen ? I have had the honor of receiv ing from vou, a ?Committee of the WTiigs of Hallifax, an invitation to a dinner at your Court House.rr-Y our letter was received at thte veryJastant I was quitting Washington, ;tn l uot read ?ntH I was on hoard tke boat. Travelling with the raatf there was no iwo m-?at at which I could acknowledge -and t iaak yoa'tor tltis ffatterinj testhnOnaf, elici ts 1, I doubt not, more by the kindness with which you have regarded my wishes and Purposes to do good, than by a just conside ir -ration if the efficacy with which I have prosecuted them. I came to the Senate, gebffemen. at the ?? moment when the uaparatfefted usurpations "* - i*f the Executive, eoosu'mnted by the seizure., aud detention of the public treasure, brought jtito existence the; Whig party, composed of all those who struggled to preserve the con stitutional limitations of power, or the princi j?les of free government. Against those usur pation*,' so utterly destructive of every thing thtt the revolution won . and sanctified, we - have continue!*!?' struggle, with a zeal which 'thus, far has uot been rewarded by a* propor tionate success. In 13T4. the pisWic money " was found in the hands of the Executive, un regulated by law; bat even Gen. Jackson was unwilling that it should continue, thus, and earnestly recommended that thff dangero us trust should be taken from his hand and >beed in the custody of the law ? now in 1333, a willing Senate proposes to place in the hftu&of this President, exempted from ? legal restraints, the funds his predecessor s iized. If tfeefe were no other Indications of the.progress of right priuciplet, the patriot' V Whig might be disposed to surrender in des- j "pair j hut recent events administer consoia- ; * fion, aad teach- us confidence in the perma- j aeBeo<flFdur free -institutions. The power and patronage party has been rebuked by the House of Representatives at each appeal imde to it, by a stronger stronger yoice. The people are coming ? hflive come ? to the rescue of the constitution. The mad and wild projects of a pampered and reckless par- ( tgr are and will be defeated. But, at the same j ue, it is ray deliberate conclusion, painful ly and reluctasdy airived at, that no defeat, j however disgraceful ; no. warning, however! solemn; no experience, however disastrous, , wiliLtttra the party in power from the error j "of its ways. Its whole organ izatio n, princi- 1 pies and practices are wrong, essentially im -Miori! and revolutionary. As long as it is in power, the country will be tossed with vio lent agitations, harrassed by sudden changes, subjected to tapid alternations of factitious prosperity arid real disaster, be divided into sections and elasses, io bitter hostility to cach other ? while a general uncertainty, con fusion and anxiety, will prevade the public mind. These are the necessary and inevitable ?:j2sequences of the domination of fjich a party as now govern the couotry-^-dur only hopes are in a change of the dynasty. Let us- expel the -Stuarts, whoever H^ifceplaCpr them. . ?-> - ,-jnF ? .ffv,. Is there any man who will look upon the history df the last eight years,' ^nd' be lieve it possible that our country can produce any other party or set of inen who, in the same space, cau do as much mischief? The k-md temper in which my fellow citi zens of the Whig party of Halifax have been pleased to regard my humble efforts, will be a stimulus to increased exertions in the com mon cause of ?Ue Whigs and the Constitu tion. ' . _ ' - V 4tOr the favorable terttas, gentlemen, . in which you have been pleased to couch.youi' . v i uruuniciUion, I beg you to -accept my sincere thanks, and that you will be assured | i>f the high respect and consideration with which - . I am vour obedient ieryunt, " ' \V. C. PBESTON.' To Messrs. James ?. .Bruce, William B. Bauks, Thomas J. . Greea, ' Wm. Baily, Johu S. Leweiien, -T. Baker, l^ioraas S. Flo?rn=?y, E. Barksdale, Jr. Thos. Xei^h, W'-ii. Holt, P. H. GUmex^^yjn. D..Sims, "Thomas Daveoport ? Committee, from the Richmond Wktg. THE EXBCUTiFE AND THE.^ONEY POWER, We have always believed, that it wm the ^reat object of the administration to increase The powers of the Executive? and this end U fa-t* sought to couipass b^ means of tfre mo wy- power ? by wresting from the Represen tatives of the People to whom it property be longedi the control of the National Treasury, and subjecting ft to the disposition o ( the President. This intention was obvious in: all the manoeuvres of Genl. Jackson ; though n that arch hypocrite itr seizing?? the public Deposifes had the cunni&g to profess only to desire to remove them from the monster ai?d put them in the custody -of Congress. He put tbem however into his own fobs, or those of his Secretary of the Treasury and his Pet Banks, selected by "himself foi their ability and willingness to render party service to the administration. In the meantime, to lull the people, he professed the greatest anxiety, that Congress \vould take the public monies out of his hands, ?ind regulate their custody by law. After remaining in his possession two years without the shadow of law, and without any restraint upon his ?se of them, CoogTess in June, 1836, succeeded inpassing an act for their custody by the State Banks. In pursuance of the provisions of that act they remaiued in the Banks until the suspen sion of specie payments iu May, *37. Since that lime the Executive has beeu indefatigable in its exertions to obtain abso< lute, undisputed and permanent control of the money of the country. The Sub-Trea sury scheme, whatever abstract virtues some may have discovered in it, was designed, and the practical results of it, in the hands oi" the present party, would be te vest supreme con trol in the Executive over the purse as well a& the^sword. . We are net left to conjecture "on this p?inft as to tihe intentions of the ad min is tratkw. After "Che Sui- Treasury ball. ' had failed in every shape in which it was pre sented, at the very close of the session, Mr. Silas Wright, the President's confidential agent in the Senate, made the monstrous proposition to repeal ail the law now in force relating to the public revenue, and leave the whole matter to Executive discretion- This proposition, repugnant as it was to the whole genius of our iostittttteus, act-ually parsed subservient Senate, and was otfly rejected by a very smafltiiajority in .the H?o?se of Re presentatives. This movement on the part -of the leader" of the administration, we repeat, removes all doubt as to the real objects of "the party." They may harp as much as they .may about a divorce of bank and State, aud they may delude whom chey can by it, Wt dheir con tact declares this a41 theh prosessieos we hollow and Insincere, and that they only seek to increase their own power and prolong their continuance in office. PREDICTION FULFILLED. From a speech of Mr. McDutfie, delivered on the 4th of April, 1834, on the removal of ' the public deposites, the prophetic spirit of which nrust excite wonder and admiration in the breast of every reader: ** Sir, it has never feeen the intention of 'this Administration to return to a specie cur rency- From the very first message of the preseat Chief Magistrate, antH the present moment, there has been a deliberate design on the part of those who have written his messages te establish a Government bank in Some form, to be used as a machine of politi cal power. I could establish this before any impartial jury in the country, by a chain of evidence strong and conclusive ; hut I have not time to go into details, .In the first mes sages he reeomn>ended a back , 'founded up on the credit of the Government and its rev enues aud in a subsequent, message he says: 4Iu the spirit of improvement and compromise^ which distinguishes our coun try aud its institutions, it becomes us to in quire whether it be not possible to secure the advantages afforded by the present bank, so modified ra its principleaand structure as to obviate co ustitu t iot^lfhtKo t her objec [ tions. , . "In his conversations1 with some of- the committees from our commercial cities, he infohned them that if his experiment should fail, as it had already, he would have a bank 'founded upon the checks and balances of this Government; a riddle which I cannot interpret ; but which like the responses of the Delphic oracle, will doubtless be inter preted to suit any emergency. We have al so heard from a distinguished and confiden tial friend of .Mr, Van Buren, the second of ficer of the Government, that we must have a political b .nk.' Now, sir, put this and that together, take all those proofs, and connect them with the visible portents which we see all about us, and no man cau resist the con clusion that a political bank , wielded by the Executive Department, and converting f the whole moneyed resources and credit of the couutry into an element of political power, is to be the final consumation of this great and desperate struggle for supreme power. It is easy to read the future history of the coun try, if the^schemes of the reigning dynasty are not defeated by the people. Anarchy is the highway to despotic power, whether ithe a banking or political despotism. Whtn the bank of /he United Stales shall be destroyed , the currency will be thrown into such derange ment and confusion that the country icill be prepared to submit to any national bank rath er than endure the prevailing evils. Then the Administration icill come foncard on that spir it of imp ro cement of which the Presi lent speaks , icith their grand, scheme of a' political bank , founded upen the checks and balances of this Government. 14 1 fear, Mr. Speaker, that the lessons of experience arc lost upon nations. No peo ple have been more severely schooled by this teacher than the people of the United States . have been upon this subject. And I never reflect upon our present condition and pros pects,* without recurring to the fate of the Italian, who, possessing a strong aud robust constitution, sacrificed it to the tampering of experimental quackery. His epitaph was brief, and contained an instructive lesson: ? 'I was well ; I would be better ; I am here ' ? May it never be the paiufnl office of the his torian to inscribe the same warning epitaph of the mighty ruius of our national prosperi ty. i 44 1 have a few words to say to the South ! em gentlemen who believe this Government has ho constitutional power to incorporate a bank. And 1 cannot but express my regret that their constitutional scruples should so operate as to render theni utterly powerless id the real contest which will here be de cided between the Bank of the United States and that greatest of all monsters, a political bank." Disguise it as we may, to this com pletion it must come at last." ; Of all the setf evident nonsense that ever "entered into the head of a great man, we have met with none that exceeds that put forth by Mr. Calhoun io a sentiment addres sed, to a Loco Foco gathering in Phio. It. is this " Thomas Jefferson, and *98, -and a - final and complete separation of the political and money power now and forever." To produce this 44 final and complete separation of the political and the money power," Mr? Calhoun proposes the S\ib Treasury scheme, winch giVes to t&e Exer cotive, who is hi feet the very focus of the political power, entire control oarer the reve nues of the country, And this Mr. Calhoun calls^ separating the political from the money power. By the same role we suppose he wouW call it uniting the politico! And money power, sf Congress were to take away from the Executive all control whatever over the collection, safe keeping and disbursement of the public n>oueys. When Mr. Catheun voted for a distribu tion of the surplus revenue among the several States, after having made -a "brilliant speech against that mode of disposing osf it, he ex cused the manifest inconsistency of his con duct^ by the plea that he wished to get the immense accumulation from under the con trol of the Executive? that he sought to 44 separate the poetical from the money pow ers?When he afteiw irds insisted upon the payment ef the withheld instalment, even if it had to be made in 44 shin-plasters," he avowed" bis object to be to deprive the Presi dent of the smallest influence which the 44 money jwwet?' <could give him. This same Mr. Calhoun now tells us that the best way to bring about 44 a final and complete separa tion of the political and money power," is to have the levenues collected in gold arid sil ver, placed in strong boxes with, iron bars and bolts, and delivered into the custody of indi viduals appointed by the Executive, (wbo is in truth the political .power) and removable ?&t bis wiJL We aretoId; now that there is less danger of bribery, owraption and fraud, it} the Executive and his creatures than there is in the Ba?4cs and fche'jjeople ? that the Executive and his partisan office holders may be safely intrusted with the keeping of the whole revenues of the country, but that our liberties will be certainly overthrown if we continue to pursue a system with regard to the custody of the public moneyst which fifty years' experience has taught' us was *>oonoiB>eal, benefiowl, harmless and ?afe. When General Jackson had resolved on moving the public deposites from the' Bank of the United States, he employed. language of the following character in his celebrated Cabinet pa,per <*f the 18th Sept. 1833 : "In lidding the country of an irresponsi ble power which has attempted to control the Govern meat, care must be take? not to unite tho same power * ith the Executive branch. To give to the Executive the power over in dividuals now possessed $y the Bank of the United Slates even with the material differ ence that he is responsible to the people, would be as objectionable and dangerous <is to leave it as it is. Neither the one nor the other is necessary, and therefore ought not to be resorted to." ? Motitle Mer. Adv. The Hvuma* Panther. ? The Peoria Regis ter,? a paper which frequently instructs and amuses us with auecdotes connected with the settlement of the western country, fur nishes us with the following sketch, which if says, was related by a gentleman of great respectaWity, living nwr tbe spot where the circutttsUuce occurred: ? In the latter part of that tyoody ttagedy, which spread dismay throughout this part of the State, there were about nine hundred Ia dians encamped on tb& Illinois riveKsjoppo site to the present town site of La^-Salle, composed principally of the Iroquois tribe. Thpy bad always maintained a friendly inter course with the whites in th& vicinity, and had manifested a great partiSity for one In {particular. This Myers" a per fect prototype Caper's tTapper. This State was the fifth in which he had erected his hut in advance of a white population. ? jHie :had ,q?eo u rse acquired more of the hab its ofthe Indians than of civilized men, and was familiarly known among them as 44The Panther" ? a title which he had acquired from them, by a daring exploit, in killing an animal of that name, when leading them in one of their wild husts. At the period re ferred to, these Indians rallied ^nder the Black Hawk standard, and were committing many depredations upon the settlers in the vicinity. When repulsed, they did not hesi tate to wantonly murder their former friends and companions. About the cabin of the Panther, nearly a hundred settlers had come in for the safety of their wives and children, placing them under his protection But among the victims of savage barbarity, there happened to be a brotber-in-law of the Pan ther, withhis wife and three children. Here in they committed an unpardonable outrage upon the family of their ancient friend and demi-savage. When the sad tidings of their cruel fate reached the garrison, the Panther was seen clothing himself in battle array. With his rifle, his tomahawk and scalping knife, in open day he silently bent his steps to the Indian quarters, about one mile distant. Fearlessly he marched into the midst of the savage band, levellad his ri fle at the head chief present, and deliberate ly killed him on the spot. He then severed the lifeless head from its trunk, and held it up by the hair before the awe struck multi tude, exclaiming. 44 You have murdered my brother, his wife, and their three little ones, and now I have killed your chief. I am now even with you ; but," he added, 44 every one of you that is found here to-morrow morning at sunrise, is a dead Indian." All this was accomplished by the Panther without the least molestatiou. Th^ykuewthat he would take vepgeance for their deed of blood? and silently acknowledged the justice of the da ring act. He then bore off the head in[tri umph to his cabin. The pext morning not an Indian could be found in all that region. 34iey left forever ihe^rhoi??es and their dead, and that part of the state has not beeu mo lested by them since. A few weeks since this veteran of eighty winters sold his claim, and caprisoned with the same hunting shirt and weapons which he wore when he killed the chief, started for Missouri. After travelling a few roads, he returned and asked permission to give his 44 grand yell ." The gentleman to whom he had sold the land, giving his assent he gave a long, loud and shrill whoop, that made the welkin ring for miles around.- 44 Now," said he, 44 my blessing is on the land and on you ; your ground will always yield an abundance, and you will always prosper." Again he look 'up his march for a new home in the wilderness, where he could enjoy the happi ness of solitude, undisturbed by social ties. Th^ curious and important operation of the transfusion of blood, ; was recently per formed with perfect success by Mr. J. Wil son and Mr. Richard Ripley of Whitby, on the person of Mrs. Hartley, who was rapidly sinking under violent hemorrhage. The pulse was gone, and not even by the applica tion of a mirror to the mouth of the patient could.it be perceived that she breathed; but by the ky ection inro the veins of a large quan tity x>f blood taken ftbm $ose of her sister and husband, the patient was gradually with drawn from the very jaws of death, and is now approaching convalescence?Sum/crfa;?^ Herald, ' o Coltttitbta rdrsropr. SATURDAY, AUGUST 18. v None who looked narrowly into political events during the extra session of Congress, and the early scenes of the regular session, doubted that a project was on foot to carry this State over to jVan Buren. It not only required a stout heart to conceive and a strong hand to effect so 9hecktng n revolution, but it also demauded caution, finesse, and dis guise. The purpose was therefore at first denied ? then obliquely admitted ? now open ly avowed. It is now supposed that the peo ple are in a condition to have the matter bro ken to them ? and the organs who eight months ago resented the charge of Van Bu renism, as outrage apd offence, now admit that they are, and say the State ought to be, of the Van Buren party. The Mercury and the People's Press of Augusta have more than half dropped the mask. Not that we mean to say that either of these papers knew from the be-gHuaiag te what they were to come. They, too, had to be coquetted with a little, and for a time, thought that they were oppos ed to Mr. V;tn B\jrcn-?-aod then in their tarn acted the coquet.with the snb-Treasury party, of which some portion still supposes itself arrti Van Buren. / The delusion cannot long continue. And now we put the question directly, wffi the State of South Carolina, the delusion being dissipated, permit itself, knowingly and oT purpose, to fall into the arms of Mr. Van Buren f This is the only question. Who are we to-be delivered over -to ? Look to it, people of South Carolina. To the ruffian dynasty of BlaVr, Bento? and Kendall ? To the cold "blooded, selfish, and unscru-j pulo-ns politics of the New YoA regency? To the wild and lawless principles of un bridled Loco-focoism ? To the " Kitchen Cabinet" ? to the Spoils party ? To that party which Mr. Calhoun said had no principle of adhesion but a desire of office. To the foulness of the Mrs. Eaton party. To tfoe ferocity of the Proclamation party. To the daring sycophancy of" the Expung ing party. To the fraud and duplicity of those who betrayed us into the Tariff of 1828 ; who op posed the^compronnse of 1833, aud urged its violation in 1837. To.Uiat profligate and prodigal party which at the last session borrowed twenty millions, to enable it to spend thirty nine in patronage and influence. These are the people and the principles we are to be delivered over to. And und^r what ciicumstances of gross humiliation ate we brought up to be surrend ered *! Why, but a year ago we were the foremost Jo cry vengeance upon the usurpers of the government and the distroyers of the coun try ! We are ordered suddenly to learn a new language. To call this political compost heap " The Republican Party." We are ordered to bend the knee, to truckle, to lisp out honeyed phrases, to those upon whom we all ? from the gorgeous magnificence of Mr. McDuffie's burning denunciation to the sly nick-names of creeping Cralle ? were taught to pour out our detestation! " The Republican Party V . Shades of Jefferson, Madison and Crawford! What a mournful spectacle is presented to us- South Carolina bowing her lofty head, yet helmetted and plumed from her glorious contest, to Martin Van Buren ! South Car olina taming down her trumpet voice, which yesterday made the minion tremble in his palace, to a courtier-like, fawning entreaty for admission into his " Republican party ! And for what is this sudden and mighty change? this loathsome alliance with all that we have been accustomed to abhor this abandonment of the clear honor, the lofty seff-depenaence, the proud and gallant resent ment for her country's wrongs, that we have hitherto supposed belonged to the character of the State. What boon, what bribe, what mighty spell, has brought us to this sad con dition ? A single measure, of questionable (to say the least) policy, about keeping the public money. And for this we embrace old enemies, denounce old friends, and -surrender all for which we have spent our lives ! GLORIOUS TRIUMPH? VOICE OF THE SOUTH. We stop the press to announce the following results in the Congressional district, hauded to us by a gentleman just arrived in Marion, we have only received the majorities in each County, Talladega has not been heard from. The result in that County will not vary the election materially. Crabb, (W.) Ellis, (V. B.) Perry, 159 Green, 396 Sumter, 104 Pickens, . 200 Tuscaloosa, 200 Jefferson, 300 Bibb, 118 Shelby, 50 Talladega, ' Total, 1109 418 So much for Alabama. In North Carolina., Dudley, (Whig) is elected Governor by a majority of many thou sand, and a majority of the Legislature are Whigs. ABOLITION. The leading administration paper of New York, the. Evening Post, contains a commu nication* which it. says is from a distinguish ed administration man in the interior, de nouncing the address of the 44 Republican members of Congress," for its opposition to Communications. Passages from the life of a great Statesman. _ .Number vi. it will "be discovered, in the progress of this number, that I have preserved the title of the series as a- node its merely, around which to gather su-ch observations as have occurred to me upon currency and banking, and upon the topics employed in their dis cussion, during the late and extra sessions of Congi ess. The present number will be con fined, 1st. To the alleged insecurity of the system of credits, as employed by Banks in this country ; 2nd. To the alleged fraudulent foundation upon which those credits rest; and 3rd. To the corrective proposed to be applied. It is true that Mr. Calhoun has employed these topics, but in no other wise than as a laborer would use an implement made by another; and it is further true, that the public may choose to account with him for their use ; but I notice them, merely as part of the coinage of modern agrarianism, of which perhaps the legitimate paternity is in Skidmore and Meng, and for the origin of which Mr. Calhoun is no more responsible than he is|for (^puge's notion of a divorce , which he has adopted, or for irredeemable issues, which is the cast off and condemned project of another country, and.in the ase of which he has been anticipated by omni bus drivers and mint julip sellers, from Bos ton to the Balize. First then, of the insecurity of Bank cre dits. In South Carolina, the charters of all Banks, (except the Bank of the State of S. Carolina) render their respective stock holders liable individually, from their private and separate property, to double the amount oC their capital stock. As security for their issttes, it fo^pws then, that .there is a triple guaranty, in private and corporate assets, I which even jhe most prudent would not de sire to strengthen, if the security yere of fered upqu a private transaction. For the security of the issues of the Bank of the State of South Carolina, over and above its corporate. assets, the faith of the State is ul timately pledged; and with a taxing power which, for the credit of the State, may be used to the verge of a general confiscation, the whole property within it is thus made liable as an ultimate guaranty for the sound ness of the Bank's circulation. It is true, that since the prevalence of the metallic mania, a new test of solvency or security has arisen. A certain honest Bank, in a certain very honest and plodding country, once confitrijd its issues to the amount of metals on deposit ; and that being the honest stand ard, the age must lecede to it, or on failure to^lo so, the credit system must lapse into insecurity and the Banks into insolvency. To accomplish the desired security, in the memorable wotds of the Hon. Enoch Beard sley, " credit must perish, " and the Banks must become^ like ready money Jack, keep ing time to. ihe gingling of their own hard dollars, or beformaUy reduced tp a surren der of their charters ! Whether coins are the only honest medium of payment, or whether they will ultimately sick down into -a mere means of expressing the denomina tions of raltJe, I shall not stop to discuss ; but to a plain man, a specie basts, as the only solvent basis for circulation, does, to say tfte least, seem an absurdity. Why a different test for individual and corporate solvency ? and. who* weuld measure the abil ity of an individual tomeet his engagements by tfce number of coins in his breeches pock ets ? ft is fcurmliating, even to be brpught to the formal statement of such absurdities as a means of their expostffe : it would be an insult to the understanding <of an enlight ened public, to offer to discuss them. Upon the point of security, Mr. H. C. Ca rey, in bis work upon the credit system, has collated facts in regard to the banking sys tem of this countty, which place it upon a basis ?b which k may*, Mid foreve i will, rest secure against ignorant dennuciation andfc clamour. He has shown \5rat the average loss by failure of Banks to *e4ee?i their is sues, in Massachusetts, Rhode Island, Maine* New Hampshire, Vermont, and Connecti cut, from 1811 to 1830, was one-eleventh of one per ctnt upon their capital , and about one ftve-hnndredrhs of one per cent upon opera tions facilitated by them. In New York* the average loss has been less than half of one per cerft or tke stockholders, and on the public about five dvltaarsin a million, by sub stituting fcatrk notes for coin. The whole average of loss in aTl the above States, New York included, from 1811 to 1830, by the substitution of Bank issues for coins, was one four-hundredth part of one per cent, or about one dollar upon every for ty thousand, of capital. In the last fifteen years, k has not exceeded Jive dollars in a million J In bis 44 considerations upen the curren cy aud banking systems of the U. States," Mr. Gallatin states the annual loss by wear of coins merely , where a metallic currency is employed instead of a paper substitute, at $70,000, upon erery $40,000,000? Accord ing to the shewing of Mr. Carey, the aver age loss upon ttie same amount of Bank notes, in the ahove states, for the last fifteen years, is 8200 : or $5 per million ; aqd hence the annual saving (and by consequence, ad dition to their capital,) upon the above a mouat, by the substitution of not&s for coins, has lieen $69,800 : ot one million and for ty-seven thousand dollars in fifteen years. Does this not shew, conclusively, that or ganized credit is wot only a more conven ient, bul a more secure Instnrment of com merce, than coins, by the amount of differ ence in the losses upon each? If not, let us have the benefit of a spftitation. But, to proceed a step further, upon the security <o{ Bank credits. Having shown . that they are more safe for commerce than coins, it remairfs to be shown that corporate cred its are more secure under corporate manage ment, than individual credit. It will be remembered, that the loss of the community, by bank issues, in the States re ferred to, has already been stated, upon the authority of Mr. Carey, at an average of Jive dollars per milium. The same writer, in reference to the banking corporations of Pennsylvania, has shown that their, average loss, from transactions with individuals, has ranged as high, from 1811 to 1836, as one third of one per cent per annum ; showing most conclusively, that incomparably more has been lost by Banks from individuals, than by individuals from banks, One would suppose that these statements, placing, as they do, the solvency of'Bank credits upon a basis more secure than specie transactions can be put, may very well be trusted there, and there I will suffer them to remain, while I proceed to the discussion of the alleged fraudulent basis upon which they rest. It is to be observed, however, in takiog leave of this topic, that the views presented have been sustained by unpretending facts merely, and th$ inferences of which they were the ligit imate predicate. Of course, I cannot ex pect them to compete in public favor wilh a mere Delphic abstraction opposed to thern. If, forsooth, they chance to conflict with the theory adopted by some popular favorite, they must of course, go for nothing. . Before proceeding to the merits of this allegation of fraud, it is worthy of remark, that if bank credits be put into, emulation through fraud, the history of human infatua tion furnishes no parallel to the imbecility of mankind under the delusion. They are not only, it would seem, the willing, but the de voted victims of imposture ; and perhaps is the very first instance in the history of liuman 'credulity in which mankind have net merely passively acquiesced under delusion, but where they have been the earnest, and eager, and persevering applicants to be de frauded ? like the courtesan, in the progress, of a general violation, each, it would seemv is anxious to be informed when the happy ^ime shall arrive for their own pec^ar de! frauding! It is but fair, however, tp statfc fully the charge preferred, before the anawef is given. It is, that the drawer and indor sers of a note discounted are as solvent for the amount as the Bank which discounts it^ and hence, that it is a fraud in the Bank to charge six per cent for substituting its cre dits for theirs in payment of a debt, or in the purchase of property. It is to be recol lected, however, that it is for the creditor, oi the owner of the commodity to be pur j chased (as the oase may be) and not for the debtor or purchaser, to fix the relative value of the two papers ; and it is for the very reason that he has refused the individual's. . paper, that the paper of the Bank is offered to be substituted. Solvency is npt the ques tipn made upon the paper ; but when the choice is offered him, the preditpr or seller must necessarily elect between holding a pa per which is uncurjent, and whteh* caqnot . be passed off in any commercial transaction the abolitionists. Now, the anti-abolition Sentiments of this address are the meekest and mildest that ever a South Carolinian pttt his hand to. They are suck as Mr. Wall, of New Jersey, may well subscriBe. They , are far weaker than Mr. Van Burets inau gural, which was thought by his present friends in this State altogether insufficient. MR. H. W. H1LLIARD. F ew things have been mofe gratifying to OS than the election of this gentleman to the Legislature of Alabama by the towp and coun ty of Montgomery. It shews the souedness of Ac politics of that most important portion of Alabama, Mr. Milliard was not only a States Rights Whig, "opposed to the srob Treasnry and Van Buree, but was the leach ing champion of the cause, in refuting the arguments in Mr. Dixon Lewis's papers signed ** A Nullifier," which hare been dis tributed through this State with such perse vering industry. The election of Mr. Hil liard is the decision of the controversy be tween Junius Brutus (Mt. Hrtfiard) and A NuJU^er, (Mi. Lewis,) and this deed of the stripti Jg with his sling and pebble, is an ?earn est his future success. Mr. Hrllrard is of our -college. He left us some years since, carrying with him the best wishes! smd the high expectations "ofthis-com m unity*. ? . GEN, THOMPSON. We are rejoiced to hear from the Green ville and Pendleton Congressional district, that its high spirited population is sustaining their gallant ibid talented representative, in a way which will prove that they are not to be dictated to. W? hope to have a striking manifestation that the people will think for themseves in that district. The aZ&wYof the Morcuiy have not yet been able to get one of themselves nominated in opposition to Mr, Legare, tho' one of them has been assailing that gentleman for an im puted l?te oT Greek aal good eatiig. We doubt his capacity to judge in the one case, and his opportunity in the other. The low strain in which the distinguished representa tive of Chasleston has been assaulted in the Mercury, gt^esthe measure at ouce of the taste and the talent which would supercede him in that station. Mr. F. W. Davie has undertaken in yes terday's Times to twist Mr. Legare about his thumb. F or the better understanding of Mr. Davie's doctrine of instructions, we will bring to mind that in his -speech l*st session he explains the true purpose of instructions on the part of the Legislature to be, not to represent but to create a public opinion. We learn that all the Banks of this State wiH resrune specie paymeut on the 1st of next month.