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"We will cling to the Pillars of the Temple of our Liberties, and if it must fall, we will Perish amids the Ruin." SIMKINS, DURISOE & CO., Propriesu E MARCH 9, 18 luI E ERY, THE MILLER. A BALLAD. . Beneath the hill you may see the mill, Of wasting wood and crumbling stones; The wheel is dripping and clattering still, But .aerry, the miller, is dead and gone. Year after year, early and late, Alike in summer and winter weather, He pecked the stones and calked the gate, And mill and miller grew old together. "Little Jerry !"-twas all the same They loved him well who called him so; And whether he'd ever another name Nobody ever seemed to know.. 'Twas " Little Jerry, come grind my rye ;" And "Little Jerry, come grind my wheat;" And " Little Jerry" was still the cry, From matron bold and maiden sweet. 'Twas "Little Jerry" on every tongue, And thus the simple truth was told; For Jerry was little when he was young, And Jerry was little when he was old. But what in size he chanced to lack, That Jerry made up in being strong; rve seen a sack upon his back As thick as the miller, and quite as long. Always busy, and always merry, Always doing his very best, A notable wag was Little Jerry, Who uttered well his standing jest "When will you grind my corn, I say ?" "Nay," quoth Jerry, "you needn't scold; Just leave your grist for half a day, And never fear but you'll be tolled !" How Jerry lived is known to fame, But how he died there's none may know; One autumn day the rumor came "The brook and Jerry are very low." And thean 'twas whispered mournfully 4be leech had come, and he was dead; And all the neighbors flocked to see: "Poor Little Jerry !" was all they said. They laid him in his earthly bed His miller's coat his only shroud "Dust to dust" the parson 9 tid, And all the people wept aloud. For he had sh'unned the deadly sin, And not a grain of over-toll Had ever dropped into his bin, To weigh upon his parting soul. Beneath the bill there stands the mill, Of wasting wood and eoumbling stone; The wheel is dripping and clattering still, But Jerry, the miller, Is dead and gone. From the New York Times. SID STORY OF DOMESTIC RUIN AND'BLODY REVENGE, WASuINTON, Sunday, Feb. 27. The vulgar monotony of partis.an pasions and political squabbles has been terribly broken in upon to-day by an outburst of personal revenre. which has filled the city with horror and con sternation,-1 cannot unfortunately add, with absolute surprise. For months past the social world of Washing ton, always as quick to relish the details of pri v ste scandal, as it is always lax in its judgments of those by whom such scandal may be caused, 1,as been busy with the names of Mrs. Sickles and of Mr. Key. Their intimacy was of that marked and peculiar kind irhich may perfectly well consist in the innocene of any absolute guilt-since while it was open to public obser vation, it was hardly concealed from Mr. Sickles himself, who having married his wife, Miss Bla gioli, of New York, in her early .youth, had always treated her with extreme kindness and tenderness, and doubtless looked upon her rela ti ,ns' with Mr. Key as the mere expression of a girlish love of admiration, and of a vanity'de lighting in the sense of power over a man of fine presence, graceful address, and a certain local renown in the District for high spirit, resolution and ganilantry. During the whole of the last session of Con *gress the tall figure of Mr. Key was constantly t., be seen in President's square, oppos.ite Mr. Sickles' Washington residence; and Mrs. Sickles was as constantly in his company at all places of public entertaiinent. In the interval of the Congressional recess, Mr. Key made a short visit to New York, still without exciting any absolute suspicion of positive impropriety in the 'mind of Mr. Sickles: although other !riends of the unhappy lady, and among them her mother, repeatedly warned her of the fatlal precipice on the brink of which she was permitting herself to trifle. It was hoped that the affair would came to an end of itself, and that one or both of the parties most nearly implicated, would perceire the real drift of theIr conduct in time t. avoid its almost inevitable consequences. But on the re-assemibling of Congress, and the return of Mrs. Sicklcs to Washington, Mr. K(ey's attentiona, and the iscandal consequent upon them, were revived- alth greater ardor thin bef...r@. Mr. K(ey was a particultarly no tice.able man in point o'f per.-onal sppearan~e tall, well-f -rmed, a much more athletic man thant Mr. Sickles, and especially fond of'eier cise on'horseback. lie rode ani iron-gl'eylhorse, and scarcely a day hias passed since the-return oif Mrs. Sickles to the capital, on which.his tall fi;ure, his white riding-cap, well-trimmed inous. tache and iron-grey horse might not. have- been seen two or three times in the course.of. the morn-. Ing on the circuit of President's-square, or at tihe door of Mr. Sickles' house, whicta .standls quite ..alone on the north side of the square, and is a ver y conspicuous building of' white stucco. It was but on Tuesday last, (so swift and fearful a dream does the whole story seem.) that, on vis iting Mrs. Sickles, Tuesday being her 'day of reception, I found Mr. Key there, liis horse waiting for him at the door. The rooms were filled with a pleasant company ; the soft Srinx' sunlight poured in at the open windows; and Mrs. Sickles herself in all her almost girlish bieauty, wearing a buquet of crocuses, the'tlrst lings of the year, seemed the very incarnation of Spring and youth, and the beauntiff promnise of life. What is the twilight--what the house that then was the synonym of hospitality, the *most frank, and generou4 and easy ! In the early partyof the week before last Mr. Sickles went un to New York. Dujring his ab sence the busy spies of society observed that the attendance of Mr. Key, at his house was even more unremitting than usuel. Mr. Sickles returned to Washington on the morning of the day of the Napier Bill, and frzin tiiit time up eo sMday last snothin5 neenrred to make the matr of his wife's relations with Mr. Ke3 ma6bsn ordinarily prominent in his mind. S< far he from manifesting anything like inor din or tyranical suspicion, that he allowe Mr..Y to escort Mrs. Sickles as usual on Penn. sylvia avenue, and I saw then,, in company withar. Henry Wikoff, at the theatre on Wed. n night. On Thursday Mr. and Mrs Si. entertained a large party at dinner Ov tbat gay and brilliant company how near andaaiful a doom impended! QA'the next day (the day before yesterday: Mr.Sickles received from some enemy of man kiuft' anonymous letter, stating with precisior so i' ute as to make suspicion imperative, that Mr.ey had rented a house on Fifteenth-street, abo*K-street, from a negro woman, and that he 9s in the habit of meeting Mrs. Sickle. theritwo or three times a week, or oftener. Thaeprson and dress of Mrs. Sickles were acJ curqly described, and the usual time of the in 'ew specified. Accompanied by a friend, Mr. ckles went to the house designated and foundeverystatemerst of.the anonymous writer corr orated. Mr. Key had taken the house, and-& had constantly met there a lady answer ing *y closely in description to Mrs. Sickles. - MISickles still clung to the hope that the pers .who had stooped to the baseness of ma. ki pich charges under the veil of secresy, mnige.bave thoroughly deceived him,. and that .Mr. ckles was not the lady in question. He secoalngly requested his friend, Mr. George W6|ie, of New York, to watch the place from,'oe window of a house just opposite. On|Baturday, no meeting took place, and the wonmiin eharge seems to have stated that none had-aourred since Wednesday. O4turday evening, Mr. Sickles resolved no longCP play the spy upon his honor, deter minod4o confront hi- wife directly with his ter rible icone. At first Mrs. Sickles strongly den r guilt; but on her husband's asking her ther. on the Wednesday previous, she had n4entered the house on Fifteenth-street. in a 'particular dress, and concealed by a hood, cried out, "I am betrayed and lost !" and ned away. On recovering her sensei, she ted her guilt, and besought mercy and pa Mr. Sickles calmly said he would not injure , since he believed her the victim of a scounnd, but that lie had right to a full con fess Two ladies in the house were sent for as wi , and in their presence, Mrs. Sickles made 11 confession in writing, stating that her tion with- Mr. Key had commenced in Apr ast, under Mr. Sickles' roof, but that Mr. Kq had since hired the house in Fifteenth. street,, which they had constantly met. Mrs. Sickle irfession was made in the midst of the bi st contrition and niisery. Her Lus band ~py asked her to give him back her weddi ring, and desired her to write to her mothe~o coie and take her fromi his house forever. Mrs. Sickles made no objecti ns, ad mitti he justice of her punishment in the most ting language. Her mother will ar rive t ow to remove her from this fearful scene uit, remorse and bload. - - ' t -ence of his wife, Mr. S' es gave way to the most tert ible emo tion, passed the night borderin.. con distrac tion esling which was worked into madness this' in- on seeing the cau-e of his misery, Mr. . with gay audacity pass opposite the wind a t his wife's noon, anI waive his hand kerci I the usual signal for asigiatiosi. Akk Mr. Butterworth, whn was athis house tfolow Key and engage him in conver sationt that he would not get out of sight, lie rusedp stairs for his pistols, and quickly fol loinjfund Butterworth and Key together, at thelesner of sixteenth-street, when the trag edy tqoAplace. On ~ inl up Sickles walked directly to Key, and it 'ou have dishonored my bed a-id famil. you scoundrel-prepare to die ! -:t the a'time drawing his pistol. AlmoSt si mutaeously Key pla-ed hi hand in-ide his vest, and diawing what appeared to be a pistol, but what pas really an opera-glass, said, " You had bette.net shuot !" Siciles at once fired, Key at the same time throwsig his glass at him. Thbis shot only graized Key, ~ltly rai~ing thbe skin of his side, and he imui4 ly leaped behind a tree to avoid an ather ib. Sickles followed, and Key, cat.:hing his arii endeavored to prevent him from firin.x, but Sipkles disengaged himself, and firing again, shot It in the upper part of the right thigh, lose to the main artery. Fallig on his hip and mupporting himself with his hand. he cried, " Murder ! don't shoot!l' Sckles still following, fired again, with his pis tol elus-to Key, the ball passing through his body below the breast. In the'mneantime the report of the pistol and Key's 6ries start'ed those ini the neighborhood. M. Thomas Martin, a Clerk in the Treasury Departent, who happened at the moment. to be leaving the Club, rushed back, and calling ut, "-Key is murdleredl!" Mr. Doyle, Mr. Up sher anil Mr. Tidball, who were in the Club at tie timesproceeded hastily to the ..pot, when thy lelnti Sickles standinig over the body of Keyith his pistol presented at his head, and which he tried twice to di~charge, but which snappeboth times-.and Mr. JButterworth stand ing by composedly. On hr. D~oyle's touching Sickles on the shoul der, the latter at once desisted, and turning around, said: " Gentlemen, this man ha4 dis honored my bed !" Upon this he took Butter worth's arm, and walking' from the spot with the most self-possession, proceeded to A ttorney General Black's, and delivered himself into custody,. Oil Mr. Sickle'., Icavingr Mes'ira. Doyle, Tisbhall LPnhera I Martin coavey ed ti e be:Iy, whhl'h still hbhfaint gasps of breathing, to tae porleut of the UIab.house, when the Aama ant Sunrva'u Genefti ganat tnee ini attenidance, b'U..Key' wts beo' all medical skill, le hi eathed but twice af*being lai-l upon the tIiur.. Wj ati~n and i tlpher rasi-e*l Key fromi the gtu , the f.ormner inquired if he hadl any. ting t&hay. Key made no reply, amid was *::dety.nonscious. In akr minutes the news spread over the city andthe streets became thronged with visi torte the seene of terrible event, and groups were eiTrywhere noticed engaged in excited dicsso about it. Th~e Club Ihouse was speeda ly urrnded by an immuiense~ crowd, eager to view the'kbdy c'f the ill fate.l Key. Many Mi ttio leadii gentlemen of WVasington drove up in their arriages, anin abu uatro an ein M.ndleton, of 'Ohio, arrived. At a~the Coroner's Inquest was held in thq parlor, where the body lay, when suicient &cts were el;ctel to show that de esed'Waskilled 'by Daniel E. Sickles, and a erdit wa rendered accordingly. Whilheite, the body of K~ey-is being re moved to:h'is late residence on C. street, nearly >Pposite Colonel Benton's house. The partes involved in tis~ sad story all lived within the immediate circle of our daily Wash. ington life; twa., at least, of them being also as well kisewn in New York as in the Fe.beral Me tropolis. Key was about 42 years of age, tal. in tatre,.,bou:t six feet, with aii ea.'y and fas~h iunable air, but by no imeaita prepoasesunfg in' *ppraco-therwise. Ihis face had a sickly hise1 uzndhe had been for somne time suffering .k. head as, ~.:..inaAo ha wras. wich gave him a soured and discontented look. Other o wise he was extremely popular, and those who - knew him best said his eccentricities of manner Icovered a very kind and generous heart. His father, Francis S. Key, was the author of the national Song, the "S tar-Spangled Banner." le was a widower with four children. On his msrriage he narrowly escaped a duel with Colo nel May, who conceived that he had unfairly ousted him from the affections of the lady who became his wife, and who was a beautiful and charming woman. Mr. Sickles, the member fur the Third Dis trict of New York. is a native of this city, and was originally a printer by occupation. le is a man of nearly forty year-s of age; of good presence and graceful manners. As a aeiber of the State Senate, as well as in the House of Representatives, he had made himself remarked by a quite unusual coolness and self-possession which gave him great advantages in debate, and had acquired for him a well deserved reputation as a rising young leader of the Democratic Par ty. In 1853, Mr. Sickles was married to his wife, now ruined and heart broken, then a young girl, fresh from her school life, and remarkable then as now for something especially soft, lovely and youthful in the type of very peculiar beauty. She is of Italian origin, and possesses all the Italian lustre and depth of eye, united with a singular candor and delicacy of feature. . hir. Sickles had seen her grown up from child hooll, and was attached to her with an almost idolatrous affection. Shortly after their mar riage Mr. Sickles was appiinted Secretary of the American Legation at London, in the house hold of Mr. Buchanan, and his beautiful bride! won universal. adiniration, not more by her charms or person and manner than by the gaye- 1 ty and innocent joyousness of her 'character. On their return to America they resided for some time on the Blooningdalile road, in a charm ing house overlooking the Hudson river; and on his election to Congress, Mr. Sickles took his present house on President's square. It faces directly the Club house, to which was brought to-day the corp-e of the man who himself had slain all that made the lire of thit nmansion, but a few days since so gay among the gayest, and a. hospitable among the most hospitable, of the homes of Washington. Mrs. Sickles miy be 22, and has twochildren. She is the daughter of U-igioli, the celebrated music-teacher, of Fourteenth-street. Amid the general gloom which this 4-td affair has cast over the city, many a sirrowing th aught is ca t to. wards her whose guilty surrender to the wilesi of a vill.tin has resulted so'tragically, for she has been much liked, and t boelwho have known her will grieve sorely at the nece sity of giving her up m lost. Few womnen are better calcula ted to win their way in polite society, or to contribute m-,re to its vivacity. Popular sympathy, as usnl in such cases, is almo.-t unaniiimiuy with Mr. Sickles, the pro vacation beilt deemed ample justifi -ation for the dee-1, and when the facts a< yet unmikwwna come to be developed, thti feeling 'will grow still utronger, and read a fearful lesson to .thoite wio m-ty attempt to iti'ace the honor - and happiness of another's h-n'ne-. A fiw of Key's p-:rs nal frion-l profess to disbelieve his con'aet to ha.e been actually criminal, an I in-intain that it was the result merely of inordinwoe p.is.a d vaini'v which led liim to seek i e appe:trance at Irin. a favorite with the lad; in A14su11. T:ir theory is : terly disi;.aie I b)V the c0i:mfevsij-m of tile now heartbroken victim. When Mr. Sickies surren-lere I himself to At torniy General It ark he rei-e.ted s-teh disuo .ition to be mintmle of him as wa 3 r per. Tie Attorney General scnt for a nia-isirate, wh-, with the U ief of Police, came speedidt. Soon after the .ay.,ar arrivedl, ana amn:ing the death of Ky, an ' .\r. Sickfei was eonditI.ed in a c.ir ria:.,e to tlie j:ail. where lie now is, awaiting an examinatim. I calletl up n him this even ing and fimd1 l him surroun le- iv several co! league.s and other sympathizing friends. IHe was evidently laboring und-r stro:at mental excitenent, and his hn-ard cr-mnenance pire sented marked evid.:nce of the efleets of the fearful emotions. which htave harrowel b is very souml durinig the last twent-iour hours. Never theless, his mianner was calm anm-h collected, with his nerves stea-hy. 01 course, I dlid not q'restion him relative to tine alhfair. IIe volaunteered the remn-irk, however, that it was, unavoidable, an.i that he could not have done othlerwi.'e. IIe ad ded: "tSatislied a-s I was of his guilt, we could not live together upon the same planet." The Ion. Robhert J. Walker and Messrs. Carlisle and Ratchiltf hitve been retained 'as his coun-;el. .Trey will b img him befor'e Judge Crawibrd to-mnorrowi on a writ of habeas corpus, anIl move his discharg;e upon bail. There is little doubt th it it w~ill be allowed, and be be re leasedJ fromn custod . The gren--ral aipinion seems to be that no Grand .Jury wiill ever indict hini. Key left - ito property. Ihis fa-nily connee tionts it is understojad are able, anal will provide for his children. Some of Key's friends intimate threats of summary vengeanmce against Sickels if he'appears in public where they can reach him. SPIRITUI1I-PACICAL MINIFESTITION IN PUhlSliI COUNTY. Our sprightly contempory, the Pulaski Times, whose attention has been drawn to spiritualism, gives the following rearkable manj'estation in that county, the narration of which was over heard by one of the editors from the lips of a yenerable and truthful negro claiming to be a n Ingu7R." It is the fiest spiritual manifestation we nave ever read about, which pro'inised to be of miuch use, undl it is a pity it abouldl have been pMldI lai the provei of develo~pment bay the comnewhat " hrrgvereilt curk.dty" f the' ' ium afor'esaid. We will premi< tiur clippling fromn .t~history by.. stating that thme s'enrable narra tar apid "mjyto'.' Was oiut o-n a' 'possumn hunt, .and hyl treed his game ain an inmmense black gaint tree, too big in his judgment for his own cutting--andl he tthereuiion betook himself to the "spirits" for aid: '. So [ goes up to de tree and stuck my axe, as hard as I cauld, an lef it dar,~an step off from the tree, and seal:. Ef da,;e is de spiri hetec ob any black ma.a dat .is dead, awha2 .has eber been. possum hauntin' wid m'e, Lidah tank him to let me fInow it by cuIuing dlnon dis Lre". I say the samne ting over tree time, an den [ see de axe comin out ob de tree, an afore I could snuff my torch, away it was gwine cutting like blazes, jes like sutmm body ; but I swar af-,re God, Josh, dar was not a soul dare bitt me an de dog. Ob course I knowedl for troof it was a spirit ; my doug raise he brisseh< and growl-I make him lie dawn and hush he mnouf. Bime-by, arter de axe had cat a big keerf, it stop and set do in 0:1 de gruni, jes like when you stop to blow, an. take de chips outena de place data cut, widl your handa you know, and de chips fall outen de place, but I could'uat see no hand naar niuflin. W~ell, I want skeered a bit ; I stood dare an dle ixe stood adare jest leanin up ginst nuilin. Tinks I dat must be Bill Chizzum, what use to go wid ume postum huntin afor'e he died. Sez I, is dat you DIIl Chizzamn, an when I say dat, down fall de axe on de grouna, anal all de suadin I could do, it nebber cut. anather bit. Den I knowed it was Bill, an he tink I gwine to ax him for do quarter dollar he owed me wheni hoaipe.aheet ant for trne- I tll yon. Josh. I didn't cotch dat possur; no sirree bob-di chile take he axe and cut or home, sartin."-Ma con Telegraph. From the Charlestoeivening News.. RE-OPENING THE AFR N SiE TRADE. The advocates of the Slave Trade lay down as the basis of their poli" be hypothesis that re-opening it will 'educe e price of negroes to an average of $300 per h . Our calculation of the present number oslaves in the United States, makes them 4,0000. The average of their price to-daf is at le: 000, and gives a4 their total. value $2,40( ,000. The first positive step in the pro policy is to reduce the v.lue of this vast pro one half, or twelve hundred millions. Ttis i th cool and daring -is it not reckless? T loss is something positive, substantial and o -a tremendous scale. What compensation for - is proposed ? The reduc; ion of the price o labor. Mr. Iarper demonstrates that such re etion does not benle fit, but damages the Sou The reduction of the price of land. If %V t.e the tobacco cot ton, rice and sugar States which embrace to within a few hundred thot nd, the entire body of our slave population, to it, Virginia, North and South Carolina, Geo Florida, Alabama, Mississippi, Louisiana, Ar and Tennessee, leaving out Texas, whose mense area is but in small part yet cultiv ed, and- we have 495,000 square miles, or G,800,000 acres of land. These States are a ady quit-e densely populated, have much af. t eir lands worn out and irreclaimable und.er o system of culture, and as much iore incaprb of cultivation. Mr. Spratt's estimate of an av we value or $6 per tcre is high enough, and es $1.900,800,000 -an amount not equal the value of their daves. An increase of tw ty five per cent on he value of their lands w Id be an enormous md rather fanciful estim . The immense territories of the United S tes bring into the narket three times the qu. tity of land, afford nuch wider margin fur Ia -speculations, and Iraw off, even from the So h, our white popiu ation. The newly inmpor d Africans would Lso in large proportion seel the Western wilds 2ot embracei in the area of the States named. Che population of these Stktes, both white and :lored, is steadily increasing in density, and in he same ratio advances thq.value of the land. So that the increase of valuA which may be at :ributed to the importation of Africans is large. y estimated if put at twedty-Pve per cent. Chis gives $175,000,000 to those States, in ncrease of value (f land as comtpen.sation for the oss of $1,000,000,000 or more than.double, on he value of their slave property. Let us come nearer home agd apply the argu nent to South Carolina. Sie has ut preseat 1,91,000 slaves, worth .$274,400,000. A reduc ion of one half would entail~a loss to the peo dl of the State of one hunred and seventeen nillion of dollars. She can 1ow sell all her ne ;roes at the amount fir.t staed. Why should ibe incar the los<? 1I.r area is 29,385 square iiiles or 18 806,400 acres,C in value $112, 38,400-an amount nut mi, to the o"< The. ompeiieation-Tfr it in- r price wo, d be inly twenty-eight millions. It N evident that South Carolina has far more interest in raising iative negroes, than in importing Afriems. In ad lition to the loss here pnaven, Mr. Eirper in the extract to-day procee-l6, afler i:ving estab.ishmed imite depreciationi which would olt to Southern Laoir ani-l our system of in lustry, to lring to view the los;ses on c ,tton and 0l 1be S.uthern proilncts-a los on income a* .reil si capital, and the additional burden of in rea'ed expenses. Hie shiows that for the mas e1, of our people, and especially the poor. they rould havo to pay higher for the necesKaries of ire, while they would get less wages or means a pay with. Why should the porer man be enablel to my a negro at a reduced price, when the land for their cultivation is increase:d upon him in price, and when the protits iuon his whole in restment an-1 inlustry would be diminished in uqual if not greawer propo:tion to the reduction st iegro property ? Why should. the investments of the South to the amounmt of t wenty-five hundred amillions of loll:fras in negrn property lhe disturbed in all its relations, be depurived of its guarantees of thme Law and society under which they were made, be prostrated in value and security, and the en ire~ syhtem of economy on which they rest, subverted7 - Why should thme holders of those investments be brought, in order to preserve their values, into divisions from andl antagonim to those who seek their diepression, to the political, social and ecnomuic distraction or thme Soth ii What is the attemplt to dcestroy or rather riivert twelve hundred millions of value from our present slave property, for the pretence of benefit to the non-slaveholdling class, but agrari anism-yes, agrarianism on a vast an-d startling scale, and sought under the sanctions' of politi cal demagogueism I Mr. Spramtt had as well propose at once a general dividing-out among all the people of the entire property of thme South, both blave and landed, and have a general scram ble over it. Does he suppose that our intelli gent, honest and conservative people will coN sent to have attempted under the forms of law and-order, what strikes at their very vitals and foundation * AN ARGUMENT AGAINST THE MdICY OF RE OPENING THlE AFRICAN SLAVE TRADE, Dy Roldert G. Har per, Esq. Pablshediln pamphlet forms, at Atlanta, Georgtp.] EXTInAVT wo. 2.--coTTox. Tho importcd Africana, too, would " multiply dnsd replenish" the Sulttt, andI the generatioJns born on otur soil, andi tInder the ge'lhi inhluence of outi'ern instiltations, Wondd ho well educated by th~e time they were old enough to labor. Would .not that souarce of the increase of. sup ply affect the price of the nrgroes already mn the couitry 1 Not only is it clear, therefore, that the increased supply of slaves from this traffic inould reduce the price of negroes gen erally in the couutry, by changing the relative state df the supply and demand-but, as gill apiear in the sequel of this Essay, the price of negroes will be further affected and reduced by a redaction of the price of Southern staples, which are the products of slave labor. .For, althcaagh wve speak of the relative state of the suply and demand influencing and governing the price of an article, we do not mnean that thee constitute the-sole elements of price. We allele to the effects of -that law upon an article added to its intrinsic value, or its cost of pro du:ion,. or its own productiveness, as the case may be. And as a matter of course, any cause wbch goes beyond the fluctuations of the sup py and demand, and -affects the intrinsic value of an article, or the cost of the production of that article, or the productive value of that ar-' tide, will strike more directly at it-s price than ra other cause. This I shall make appear mre clearly in the argument which I propose! i-the next place to enter upon, in reference to the cotton interest of the South, as it is con-' peted with the African Slave Trade. When a-e have ascertained what effect that traffic will save upon cotton and tihe other great staples hich are dependent upon slave labor, we shall ~ha be better prepared to judge of the effect t these ew anses the price of neerne; And the definition and constituent elements of price as applicable to that species of property, will then be more fully explained, and the conse quences of this policy in their bearing up.ni the destiny of this institution, traced. We have.now in the Southern States about three and a half millions of slaves. If the trade from Africa was re-opened, how longi would it be before that number would be dou bled ? In Western Aftica, whins contains a population of 40 or 50 nijllions, slaves tire sold at X: or ?3 a head. The supply which that entire country would firnish is incalculable and inexbaustible. The vast profit of the trade, considering the diference in their value here, and the cost of their purchase of kidnapping inl Africa, and their transportation hither, would mtake it the most lucrative trade in the world, and would consequently enlist in it vast means of importation. The kidnapping proien-ities of New Ewgland would return to her, with an accumulated shipping capacity of a half centu ry, and with an apliitite increa;ed inl proportion to the advanced value of the negro. She wold undoubtedly reap her full share of the trade. I She is skilled in the arts of the business, having practiced it long upon the negro property of her sister States. Ier conscience is prepared t for its horrors, having long been seared by fa- 6 naticism as with a hot iron. Aud as long as t there was a dollar to be made in the tralile. she I would cling to it AE her mercenary soul cings c to filthy lucre. How long would it be before the number of slaves in the South would be seven millions, instead of three and a half? Even the feeble state of Brazil imported, prior to 1850, about 70,000 .Javes a year from Africa, aid did it under the discourageiments and liar- C rassments of a British ,qua Iron on the African t C)ast, which oppressel and coerced her traders, I as Great Britain will ever do a weaker power. ' How much greater would be the commercial C ability.of this country to import than that of t Brazil ? And great. as the demand now is in this country for slaves, the low prices at which they could be imported and sold,. would m:ni festly tend, at first, to expand the demand, by bringing negro property within the reach of a . larger class of purchasers. So that it must be admitted that it would not be many years be-. fore the slave population would be doubled.* I At that point of increa~e, le' us examine the T result. Of course the productions of slave labor 8 would be doubled. How wou!d that alliect the I price of tho-e staples ? Suppose I should put I the question to every speculator and every coin tission merchant, and every faimer engaged in tiu business of cotton-wh it effcct would it have upon the price of the article to double the qaitity of the crop, is there one who would not say that it would reduce t ie price ? We F are accutomed to calculate with much concerln the probable aimnount of the growing erop, witb a view of estimating the chanees of a good price. And yet, some men will stand ip aid fius the plain bu,ine-s men of the South, and deniv t 1at this hicrease of the cotton crop would alt-ct 1i.- c juriously the price of c tton. If ib hi y (o nit deny it directly, they do indirectly. Ttey deny .tlarih4ancreaLscoL Jav.-labir, .by-the.palicy r u:idcr cot-i lerat:on, would result in this reduc tion of lrice in proportion to the increase f Y the crop produced. This report to the South- t ern uonvention, which, with due re-pect to the 6 patriotism and ability of its distinguished an thors, I must say, seem4 to me, to set at difi- a ance all established piic liiplhs, as-erts th.t "ir. is nt situpoitble tihat t he foreict Slav.- Tra.le r will nmuc reduce it." Th -y wvubl duibti.-s a huit, it t Ie vaIl, y of tl Amaz n was .-ncl- c deidy about to be converted into a cU: ton gniaw ing irovince, and .upp led with it half i ulilion negro laboir,-ts from A frica--so thbat a miillion ba!es wouldl be add.-d to the cIttojn pui11alictoni of the worl--that the price of ou' cot ton would be alrected itjurionL.ly by it. Biut the same re stilt, worked out by the other process, they ab surdly reject. We were jealous enough COf the C experiment made by Great Britain, to prodice cottio in the Indies; and of the experinient a now being nade to promote the growth of cot ton in ti he western portion of Africa ; and of the cuture of cotton ini t.tiina. We really nil mit that the cotton grown out of ur hits which is abouit tine-ithirnt (f ithe amnount con sumied in the world. ten I sof miuch ani infe.rior I gnality thtat it mnust be tmixed with American cotton to umake it available, has the inevitab,'e I eftet of keeping down the market value of our I own product, to a dlegree corresj.ondiing to theo quantity and quality of the toreigm article. And yet this plait law of political economy, Csme I are ready in the zeal of the:r enthushumn, to I deiny, when mna/e apsplicab~le to thme question hii I haind. Rediuce the g'tuitity of. the erop one alf, and it is eas'y to piercive that the prire would rise. IDoumble that crop anud the price will fall, by reason of the coniverse operation of the sanme principle. It may be replied that if thii.t reasoning is3 correct, it proves that the kvwer negroe~s we pssess, the more we would make by i heir Ia tor; anid, therefore, it would be expedientt to lessen the number in order to enhance their value upon this principle. It is undouibterily triue that the reduction of the number would.l enhance the value of those that remainiied ; but i tue conclusion does not follow that there would I be expediency, goo I policy, or practtcability in destroying one-half of our property to enhance the value of the rest. Tue value of that which remained, when thus etnhancedi, couldl only be, at most, equal to the whole, and then nothinig woiuid be gained by the process of diminishinmg the number. And, on the other hand, it is to be remembered that thme reduction of the value of negroes, by an over-supply of negro labor, and ut reducems the value of thme staples po deed by ilu labor, in ptropnrtiotn as it apprqixi tedu~ thlat , phtt of c..eaipntes at whica ie dlimgers the eXiumit.e slid pepetuity if ite PC latit.: of shavery, as sn instition. Nor woukld te jprinciple above mientionied, imake it p'rioper I r politic (even if possible) to cut off that imit urial increase of tue pirodtuctio~n of our siaplies and increase and growth of negro proiperty, which is thme gradlual and natuiral devel.,pment of the existing order and condition of thainge. But a very different thing it surely is, when we discuss the expediiency -of disturbing that natu- I ral order and condition of things, of society, property, production anid prices, by such policy ~s re-opening our ports to the unusual and tin natural supplies of slaves, in which, bdfore they ' are introduceil, no interest is invested and no t It may be further rep~lied, that the reduction of the price of cottoni by the increase of slave labor, and the consequtet. increase ofcrops, ~ would be compensated by the reduction of ihe cot ,f its pmoduction, which woul.1i anse from the fact that it w-as produced by negries inm whom less money was iniveted, and conseqnecnt- t ly could be sold cheaper, with the samte perC cent. of profits upon the capital emphye.l inm its production. This would doubtless be true,t to somne extent. But the question is, what would be gained by a policy which cheapened e' Professor Tucker estima~tes. that the shave piopi- t ation, of the Uniteil Stites, from naturnl inerease, .t accordinat to the ratio oft its past munltipticaitin. Witl g b, in 1100. abo~ut thirty-uine mittions, If this thea true, there wilt be at that timo negrites enoughi r.ir our pUSterity, and mnore, I fear, thati they can saifety manage. And biut three score years lie betiween that V .sla d - h nresent.9 I our staple production, and then repaired tme loss by cheapening the capital invested in their pi oduction ? This only goes to show that all wnuld be on the decline together-the produc tivenesS of capital, and capital itself. IL would murely be but poor consolation to the owners of 3nr present slave population, when the price of their staplei is titus reduced by over-production mnd surpluis supp!iea, to tell thei tbat their ne ;roes were reduced also, by the same. means; tnd that if they did not make as much as they lid before, with a given number of hands, they nust remember that they did not hive as much noney invested in them as forinerly. Thiis vould be adding insult to injury, as to that, !la s. And as f1r those who had invested in he imported negroes at cheap prices, what gain xoiild it be to them, that they had bouht cheap egroes, when ihey can only make correspon lingly cheap cotton with them ? Had they not ,i well have opposed the Slave Trade, and ioughit fewer negroes at higher prices, and pro lueed les cottoi wit Ii themii, at better I rres? :his view will derive additional strength fiom lie consideratioi that the prico of t he negro vhen once introducod. whatever may have been tis original cost, will tend to conform itself to he value of his prdnc'ice lab r. This we shall ce in the course of this argument constitutes he leading element in the permanet value and rice or negroes. The price will fluctuate ac ording to the relative .state of supply and de nanl ; bit in neazro property it continually ravitated towards the point I have indicated. his point will be more clearly demonstrated rhen it aries in its proper order. I amn met here, in relation to the suibject of otton, with an arnitnent of this kind: that as he supply of cotton is hicreased, the demand till be enlarged and the consumption increased. :he idea is entertained, that there is some vast xpanwive power in the commercial world. rela- t ive to cotton, which will counteract t lie eflect f an over-supply, and keep the demand forever isatiable. This idea, though prevalent. is vague i its conception andi exceedingly delusive in s nature. Now how will an increased produc ion of co:tmn expand the consumption? That will do it, I do not deny. But the question thow will it do it ? In the first place it will i iduce more ctpital in Europe to be invested in t anufacturing. Now, why will the increased ipply of cotton induce investments 1:1 factories. do not deity such an eifect ; but what is the t rincilile on which it proceeds? Why do not t bese additional investments now take place ? F s it because they cannit get the material at c 11? Surely, they cuuld become competitora i the purcanse of the present supply of raw tateria!. The new establishinents ccauld uy a Itton as well as the CI it:li.,Ls alreaWly engaCed I it. Why, then, du they not invest ? It Is ceause of the hiih irice of the raw imterial. I 'he limited supply would not deter th:n from kinIg their c:ianees in the marker, if it were c ci for the fact, that the limited supply is ac xnp-mied with correspmding high price4. Now, reimuve the diffieulhy, and induce them to c vest and became purcasers of the raw male ial you umust liptsipply furnigh. themi rith iore ab liiit supple, at or1gma ,igh prices; I an must adi to t1.e qtantity the tither essen- t ial iiducetments of !ower prices. The increai.-d 1 upplY, without a reducti-m of price, would not nawer the purpose. It is then in that way, I nd on that princii Ia ahine, that the enhirge i-ni of our cotton crop will canuse lire fracto. I ie, in lirope to be pit ito itil.Ction. It will fect it by d Mgn-ssing lite pri, ,f co't... The I apitah,t is thia induced to emb.rk in the hu ineuss, because ItVeu h. buyis Ith 1a,'1 C ,11on 4 il Fcaper rah's, he c n *ell hi. ahricis c.-ap~er, and i ia wai opein a wviderjied .!f wnuaw p'ito:. len the cottin fabrici are reiuc .l ihT price, iIre can lie sold, fur they are brougit :whin f re' if a /a-,r cisu ,f conm' ,r.<. In f his way, and on tiis principle, the con-umptive I apacity of the world wi:l be expan-led. At I educed prices, a larger class become consnmers, nd consuie inre btmntifully than at high pri es. Tile inamilteturer's natket fir citt"n i uds leigi wideited ; lie can sell at cheaper ates of proh ti haimelf, because he enn sell I lore gon 13. Blut lie cumnot go below thle staml rd of the coat of the moavterial and oh its iinai.u ctutre. Withini that limnit ihe maiy red~uce the roltis of his businaes'. The c.mtintliig pr.ie 'Ie with hni, in the stale oif t am matnihea rin dl rticles, is the cost ohf its inanifactute, a haled o the co~t of the raw imterial. And when iu putt the manufactured aricle down, to ac- I oniuod ite it to a larger clas of con-aumers, id in that way enlargu t-he consumption, y'ou mat keel) the coit of' the ra* material at a orr'e.pitmding rate'. And wht'n you have gait ui increase of imanifacturedl capitL in Etrope. a that compeitititi ' uming thxem in selling" their srics, will tm.uke them .-ell as5 low as they can, nid thereby reduice the parice of c tton go's ou force upon the manufwi:turer tie r.ieces.'ity .1 buying the rawv mat el'ial low. As long as lie ant buy at good pir.ces, lie cati affordl to pay well J cotton. The cost of the ciot:a is the great uver power that coniro!s him. If lie pays high or that, he must charge iiigh prices for his oods. And when the comipet itiion of his own wnt branch of business is reiduci ng himi to low rohits, lie will endeavor to) threw the loss uploni he cotton p~roduicer. Now, here is th~e mistake rhich somie pieople umake, when they talk about he increase of manufacturing establishments ~aimng the price of cottoni, bay conmpeting with ach other ini the market for that article? and t is thus that they over estimate the advantage rom that source. The.y do not consider the tron; competition on the other hand, in the ale of theiir fabrica. t'he lLattr reduces theI riolte of their budiess tad theo price of tihe umithotutred article-, and thiareby c atiertmet~s iom!Elf.et, tI) a gr. al. 4x!~tt titeir sluttp~-:i - k:t Wi paurhuers Of therWil:t trr~i~ i. Thiel 'ing out of thmi str:"m wi h enskh athum int the ile of cheir hnmproived valtie, lOS' hble tor wil ng tU citffl1)te vitrul for the raw Ulat..rIai. Now, the idea of thme mantfactmirer btein;: al Jb . at sell cheaper, whno lie canm sell tora 'f his ibrics, ahd In that way raapaiin'ig ltss tipon ontto ilt of cloth by the iiicreased agregate i.f heavy ale<, is a priniciple which, it will he well to re , ember, i.s nlot applicabl;e to the cotton planiter.'s lu-iness. We are Dot rendered the more ablo o sell cotton low, because we have a double uantity to sell. Cpotton is not made by steam.' t comes from the eartb by the toil of the hand nd the sweat of the brow. A printer of cali oes, or a printer of newVspaper4 may lower heir prices, if you will double tbe custom of he one, or the subscr'iption list of thme other t is not so with thet man ihmo grows the pro ucts of' the soil. ie can atford to produce a iosand balems of cotton at ino cheaper rates ia he could otne hundredl. If, then, the increa-e oif our .shaves throuighm te Africani tralic wotild double the cluaniity of i ttiun we produce, and that intcreaed stapphly -ould induce anaextensioan of the m-inurctuirinig I isine's, as I admtit that it would ; and the-e svi c.auues conmbined expandls the ecoumpition 1 f cotto:m gaiuds in the worbil, as I aidmit woauldI -. e trueo, and reduces the prices of thiaie good4, ; se great qiuestioni i<, who i~s to bear the loss of at reduction of pri1ce? I might answer this iestion by , s'ang a nim r generail an I a nmore stract one. In all conutests betwa'ein the uoeyed capitalist and the tiller oaf the soil, < 'ho triumphs, anal who is compelled to ba ar hs?1 J's othser words, the loss of the wheoe i operation of which I have been speaking, of the reduction of the price of the m.mufactured arti cles, conseq'ient on the increase of ianufatir ing capital, and the increase of the cotun 1 crop, by the inflhix of African laborers, will be hurled back upon the cotton- planter of. t he South by the depression of the exchangeable value t' lis great staplh. We talk much abouit cottAn he ing King. Bnt that King his never been abn to govern the prices for whichlhis suijeotA te1 the produets of their toll. Somebody else was Kin,; lat ill and Winter When a cotton crop, unu-ually sinall, and which eutered the ristiket at flfteeii cents was suddenly put down to eight aid nine cents. Who was the King then ? And where dil the loss of that revulsion full I It did not fall upon Wall-street nor iandmnt uioniey-ch:angersi. It did not-faill, :1a wa;s suippo ied by soie, upon the mai:nfacturing c.pituhats. [t lell upon the poor laborer inf the thetories, Intl the cot.>n planter of the Smith. The one went out. of employment and lived upon air and .he of iler took halfl price for Iis c"tton ; 1ad :ile En:glih anl Northern cajaitaliLs, Iibose :stabbshment was s.us;-emled in its operatrn or a season, while a better specnhition Ya.s go ng on-and soon re.,unied with an amplle .-ny ulv of what the " London Cot to., Plant,"* SO Wxen.,ively circulated in the South, (have you ;een it? ) so glibly calls " Chip CoUaun ;" ud low they are spinning and printing fabries, nade out of cheap niaterial, to be sold at profits miid prices corresponding to I he recove.e.1 con lition of the cntrency an,[ tle commercial vorld. They can Coon repair all the loses of few mniiths suspcnsion in their operat:un,.. 3ut when will t ie cot ton planter recover his osses on the crop of last year ? To show that the increase of our cotton by Urican laborers would not diniiish the price naterially, the R'port alluded to above says hat there is an increasing demand in the world r co:t n a.. ;x per cent. per annum. Hlow tI'o xact per cent. was arrived at I do not know ; mt that there may be a certain natural inrreaso - of demand' going on in the world by the ad !anceient of civilization and the growth and nprovement of mankind, in the arts of indus ry and in commerce is not denipd. But thei e likewise a natural growth of the cotton ii erest in the United States and abroad; and rith us, a natural increase of elave labor, and a onstant transfer of slaves labor, anil a constait can-fer of hILves from i tier State a toi tl c cot on lands of the Southwest. And this latter narch of improvement is fully eqal to t!e ther, as is lvident fr.ni the fact I:at thcre is ;o advance of six l.er cent. or other per 'cent. n the average price or cotton. Tie Irut h is, i e all know, that slavery is gradually co: - :eiltrating li I he cotton country. It is receding r[in Delaware an- Maryland, Virgii.ia, Kei ucky and Missouri, and in some dlegree from ' ther States, alld concentrating itself in the -Atoll regi-:n. There are two cau-s powerful Y operttinag to ieiml- ave it f.-om thn,e States. )ne is, tile superior valne of slave labor in the otton lands; the other the rapid increase vf rihite population and the inevitable conseqnienco if cheamess of labur. One of..the uiot di. -31 lie re:moning, that this latter cause will id imiately reioY, The iisiittitin from the Old Jommiln and from uther State.s. These canies re natural, and according to the irresistible ourse of events. We cannot stay these results; mnt let u< aL least not precipitat I hem. And I aL 1.Vury 14 nititiitely to find it.s de timna iona Il ..v coJtn reein.: of the South uid Sonithlwest, rhere its pr ovinte will b limi:e 1, let. niot :o icrease its nmitiabers as to comipel tinit re'11i Ill -CIu Ie the! m ini ,elf dt-fence, or to reider thelr eJ1 v.1ilable ill Ii ! m gslit-'e. With Ithis reluctioni of ithe price of cot till, .o: the increase of its p il:in it is nn.-4 :.t t..at, tle lice ofi coito: hilds would de, Ireciatetd ini :1 cerresjriIIadmiig degr e, iniead of evinig enhanced, as was said, by I iinicreae of '4e shave pipulation. Aln aere 'f hnd is valued .cording to the aim u:glt of m-mev its prodlite ivenesis will bring to the proprietor. If th it ere will lruIlce (ile bale of Cotton, :nd11 the rice of tnit bale ii reduced to five ce-is per und, the landi i, wvortn just half as much as hena . same cotton was worth ton cents. IL veryi true tuat the Ihaiti tiiins (of priceu whii rii-se from )ccasintiLail c.auses aul- aonily t em arary mn heir nature. will not'uifee't t ie value r eal e~st'i~e ao a' toi mg-uke it rise al lull uiiti very change. But. this i- a fair mi-le andl the rue rule of' reasonting. And when any cnuse at a pt' nerm it -nature redceits the price ofn the i on:et, at' the toil, it hasi a tenideiney, to that xtnt reduce the vahue of the soil itself'. 9 Thi< Uritish paper' ban.< undrert::ken the e:aee of heC $authg : iapeocae the re-apenlinag ofl tie Sivo 'r:aaI.:.lay the, Uialie i tiate:- ; the.. wir.trrnwaI uf the rao.h stulseran fromii the'coa.t of Af.-ic a ; auset its .rgum.:nt is', "L.ap~j (.,tton" for IBritish manuae. acers. GoOD Foia rivE YEAIIs OLD.--A lady writimag romn Loutisiana to liarpecr's Monthly gits the " When Willie was five years old I often mungsed himl by taking fromt its shelf a " Pictua ial Ilistory of Amaeica," showvin.: him the~ lhustrations, and relating the incidents thety vere designed to represent. One day a q'lant i ;y of cotton-wool was lying near us. Wile lad been busy with the snowy heap, andi pre. rntly lbe camne to my side, a paper soldier-cap mn his head, a wooden sword in his hand, and he bosom of his frock-for he had not yet been. idvanced to the dignlity of " unmnentionables" -filled with cottoni.* " L aok, sister !" he cried, " I am General lack -ian at ti;0 Battle of New Orloains !" ao Genoral dar~k-nni !" I e'xctaeitueil, hnsahing ti hea 'ei-a!~ 1,tigtartit:ce he [.yAt.rati 'ld at byII,' t91 rihia lis lu Ii'Iwt~ pleinig with vaul. r a-s Iho siupl big lIttile hInd *.n his vell-wa-hded 'che., "in1 yp aeC my cgono .o The saline deflf little fehliW said. to his sister mec ::i-.:ht when lhe saw a mist around the ioon! - -Ol, Eve'--a pet uname for-hter-a sadnies tealing over tile little nylified fae., "the woori rasI itz crown of thorns ont to-night !", Tm late General John MPNiel, brother-in aw of President Pierce, formerly surveyor of he port t f Bo.,on, talked of for Governor for 'ew Hampshire, a prominent politician, wa elzijr-General of' the militia of' that State, and ,main of high military bearing. In the war rith Great Britain lhe had received an honora ae wound in the knee that eameed it to 1 o ti!f durmng his life. Like all othe-r war-wonn I~ad veterans, Ihe was proud of his sc.ars. At ime of Isi miliry reviews a dli.tingunished~ it ician, wl.g, hada recenlyIi risen into ntic he, *lber'vinig thme Genettr~a's huao e es , rmarka'd: ' I p. r'eeive yong hiave- a si of kil e, Gemi ral. Iaw didl you injure it ?" The Gene'ral was piued to thinik that aniy al shiould! be ignorant of so i..emmabl~e an venit as his wound, and I aoking at hint with 're at contempat, ra-polnde": " Fell off a hoarse, Sir ! You never read the istory of your country, did you 7' Wuhy is it th:at young ladies have a grea:erra~arI f hig staui.ig than those of the sterner sux?. lie ause they are sensible of their power of at:rap. -1