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WINNS8ORIO. Thursday Moraig, Aegast 17, 165. We notice by the Raleigh rogrqes that aboll of new Cotton has been hand. ed to the editor of the Newbern Vmes. This is early for now .cotton-earier, we believe, than usual. The motto on the Virginia Coat vf Arms has been changed. "Sic &uper Tyrannis" has been expunged, and the words "Liberty and Union" now appear above the Goddess of Liberty tramp lig upon the prostrate form of Tyran ny; a change emphatically for the bet. ter. The appropriation of the words of the old motto by the' assassin BOOTH has made them odious to American ears. The Virginia Elections. Governor PIERPOrNT has, addressed a notice to the Justices of the County Courts of Virginia, saying he has relia. ble information that -in a number of the Counties in the State persons have been elected to the office of Commonwealth's Attorn'y, Sheriff Commissioner of Rev. enue end Clerk of Court, and in some instances Justice of the Peace, who are disqualified by a clause of the Constitu tion, which excludes from voting or holding any offices. any persons who have, held any office under 'or been a member of any so-called Confederate Congress or Legislature. The Justices are directed to consider all offices above referred to, to which persons so dis. qualified shall have been elected, vacant, and to order elections immediately to fill such vacancies. The Latest. We gather the following items from our exchanges-the latest that have come to hand: DAD NEWS FROM THE ATLANTIC CAnI.. A report. comes from New York that the Great akstern had succeeded in pay ing out seyen hundred miles 6f the ca. ble, when insulation was lost, and that all efforts to recover it had been unavail. ing at last accounts. $30,000 IN GOLD STOLEN. Intelligence from Texas -represent that the State Treasury at Austin, in that State, had been broken open and robbed of . thirty thousand dolars in gold. The thief or thieves are still at large. S1MiAENSK FLOOD. A tremendous flood is reported in Maryland, produced by . late rains, and it is estimated that the loss of property thereby will not be less than ' three hundred thousand dollars. RICHMOND MUNICIPAL OFFICERs. Arally believed-is in cte'~a or Gen. Terry will appo fi eers for Richmo in lie ecently elected, who ere declared by tary ortwu t. .LLA4TER - The very latest news that has been redeived in refergnee to the Atlantic Cable somewhat conarms thie news above that the'thing has "busted." * MAJ. GEN. JoBEPH B. KERSHJAW. We'have great pleasure in annpneing the sf, return of this gallant officer, re leased'from prison and returning to his family, froni which he has been absent for -nearly two years, In his anxiety to 1feach Camdin, the General's stay in * Columbia -was too brief to suffer his iru *6erous friends and admirets to sed.0r .'shek himn odt~ His health is exeelhent and spirita good.- lie speaks favorably of his treatment while a prisoner ; and gtatefuljly acknowledge the kindns re. eived at the..hends of numerous citizens in ihe region where he was so long in captivpy.. It is swith the greatet sae. faction that we welcome home this no, ble gentlemaii, decidedg Sone of' the~ t gdine b oldiEls prodneed by this ar. He retutun,"' wey trus%, ta ike hi aiyhap~py, (Md h *d a, M1 arit. - teand to btb on h ' o afid devoffid 0El le ,Kersh a~ '0*. Sh*y, of M ' p olew etiphaSt e 4 ., .[Communicated.] Thes is ery, general Qbconcep tion on the part of our peopfe oa thil subject. To what extent the State would be benefited by the passage of a law cancelling all existing private debts, is a question that need not be consider ed, if it is imposne tp enact such a law, Now, can such A lawbe passed ? The "Convention" can pass no rpecifie laws. It con.only, by. a: Constitution, prescribe what kind of laws the Legis lature may, or may not, snact; hon these laws are to 17e enacted, andhon executed. Can the Legislature pass such a lawl' Our present Constitution, Art. IX, Sec 2, declares that "no law impairing the obligation of contracts, shall ever bo passed by the Legislature of this State.' This the Convention can stri& out, but it cannot ordain the contrary, authoriz ing the Legislature to pass such a law The Constitution of the United States Art. ). Sec. 1. declares "No'State shal pass ainy law impairing the obligation o contracts." This prohibition has beer uniformly held to apply to contract made by the citizens of the same State as well as between the citiiens of differ ent States. This prohibition is finail, fo the Constitution of the United States ic the Constitution of each and every one of the Stat es. Should our Constitutior allow, and our. Legislature enact, a law impairing the obligation of contracts, the Constitution of the United States would mak esuch a law null And void. OurJ udgef would not recognize such a law. By Article VI of the inited States Con. stitution, that Constitution is made "the supreme law of the land : and the Judges in every State shall be bound thereby : any thing in the Constitution, or laws of uny State, to the contrary notwithstAnding." To rend'er this 'pro. vision the more efficient, the same Ar. ticle requires that all the Judges of th, several States "shall be bound by oatl to support this Constitution." There are several classes if law which mary be passed for the relief . debtors,-such as bankrupt and insolven1 debtors laws, exeniption laws, and sta3 laws. All bankrupt or insolvent debt ors laws, without exception, that hanv ever been passed by any State orb Congress, require the surrender by th< debtor of all his property. Ani in res spect to them, Kent in his commentariei on the Constitution of the United Sta;es gives it a decided. that in order f'r i State lav not to violate the Unite( States Constitution "the debt must hav4 been contracted after the passing of the Act." Vol. 1. pp. 422. xemption laws are always prospac Thus, our exemption Act of 1823 e Homestead Act of 185-1, in x terms, are made to apply only t< "debts thereafter contracted." Thi wsnecessary to render them constitu tional, in not impairing the obligation o existing contracts. How. far 'stay laws can be extendei wvithout impairing the obligation of con tracts, has not yet been decided. Thesei is the province of the Legislature to pass We conclude'by~ stating three propo sitions, which we hold to be, in point a law, undeniable: - lat.' Without an .amepdment of thb Constitution ' of 'the Unfded &ates, ni power can p.as f valid law, cancellin1 dxisting priwfatd debt*. 2nd. Th elsfdauwa is the prope authority to'pass d'aws for the relief c debtoi. 3tr. All euqlaw must be so frame as not to iuhper. the obligation tof exi4 lng cetatM4ts.' "I JacowastreU The Ptesid~ 6 nr e ~isdne tti~hop L~'z o. f 4en 4. W entnr Ak of Newv els~shde" 4 %he~n o4 speeh'of Ga. p Is& thkCourt House, Greetnv $.-0.1 on T'usday, A'gust), on A. .etrn frop';Wanion. 1 FL'4ow.CmsitA :: have nkt -ion this mdrning, not to niake a spekli 'but to talk over the incidents of my late vis. it to Washington. I started - there, three weeks since, as your delegate, to as)c for the appointm~nt of a Provision al Goverhor, and thd restoration of civ il authority in South Carolina. On my way, I met a messenger from his Excel lency, President Johnson,bearing a com inssion appointing me Provisional Gov ernor of the State. This was an honor which f had not anticipated, and never aspired to. On my arrival in Washington, I ad dressed a note to the President, asking the honor of an audience for the purpose of receiving his instructions, and commu nicating to him my views in reference to the political tone and temper of the State. After waiting that evenihg and the next day. without hearing from the President, I paid a visit to Governor Dennison, Postmaster-General. This gentleman received me most kindl y,and seemed gratified at the account I gave hini f South Carolins. He assured me that the P'resident had not received mv note. and very obligingly ordered his carriage and w'ent- to the Executive mansion to ascertain the truth of the tuatter. In a short time afterwards, I received a note from President Johnson, stating that my communication, the day before, had not been received, and that be would see me at three o'clock. IN re ply, I stated that I would do myself the honor to call on his Excellency at the hour dP"-n-1-d, and that my friends Cols. Orr, Elford. Williams, Bacon, and Messrs. Ltitch, Grady, Gibbes and Blod. gett, would accompany me. We were received very cordially and remained an hour or two with the -President. I told him that tle people of South Carolina accepted the terms of his proclamation, and were disposed to return to their allegrance to tic 'Jnion. That from hav ing beed the nst febeilious State in the South, I wns satisfied South Carolina would, henceforth, be one of the most. loyal of the Southern States. Thiat ahe would reform her COonstitution and abol ish slavery, give the election of Govern or and Presid(ntial elections to the puo pilpi, and equalize the representation of the State. I gave' it as my opinion that the disunion feeling of the South had originated in the parishes. The President- expressed himself gra tified at the course of South Carolina was likely to pursue, and instead ofr manifesting any bitter or revengeful spirit, ho evincd.great kindness, solici. tude and magnanimity. The . whole delegation was deeply impr-essed witl' the courtesy, dignity and ability of his Excellency. -His political views express ed to nas wore those of a patriot and statesman. I{e wvished to see tiie coun try once more quiet, peaceable. happy and prosperous. In regard to the rela tive powers of the State and the Federa! Governmout, his opinions were identical with my own, -so long -expressed in South Carolina. He was equally oppos ed to the centralization and consolida tion of powers in Congress as he 'was to the secession of the States., It must be left to the Legislature of each State to decide who shall be allowed t~o vote in the State. Any atteropt on the part of Congress to control the elective franchise of a State would be an unwerrantable surpation. -He expressed en ardent wish to see the Constitution of Sonth Carolina popularized by abolishingithe parish representation and equalizing the political power of the upper and lowbr country, giving the oleotion of Go'v.rnor to the people, and .also the election of electors of President uind Vice-Preui. Onde leaving th'o President, he teqnest. ed me to call ad sei Mt .Sewad, &oc. Sretary of -St.ate, anmd g'we him the same information Ibhad given his Eellenoey In referernde (to the public feeling and Ssent' 4 South Oayaling.' TIis I y with I p'~th O0 (lnc W4 ouid -fr, $dward~ kind ,emd 16ifed at ahe inte-ms-. #6 hi5 'itlhrej' a to th' Aforith Catolina,' 3fore viewf Ioyeonea 1,Mr. Sped.. Ho .x. a m *pniel /49r5t afd 'sbrti of Jnly, u soon 4? yergd te ) had only gA v7rej pd did not e aup 'd pe Sof my z-y,9~ go. 5W wh~t the 4~Qu~ had 4 s~I replj qr "a ensmaymre er u with rpy speech ,tnade in 1Wiw York? I did not speak to thent'of for them, but' to the jieople of New York. And I suppose, Mt.ry, o i' Intended your speech fbr S0hh1 rolitia - ahd not for Washington. The Attoney-Governor expressed a -wish that whilst reformin'g our Constitu. tion, we should give th election of Governor to the people, and invest him with the power of appointing all State and district officers, with the advice and consent of the Snte. I to'ld him my theory had always oen tb give alltle important elections, President, Govern. or, members of Congress and members of Legislature to the people, and relieve them of the trouble of assembling so of. ten to make petty electidAs, which gen erally tended to corrupt and demoralize them. I. called on the 'Secretary of the Treasury, Mr. McCulloch, and was very much pleased with hiMn as a gen tleman, a publio officer aid a states man. I was fuimished in the Treasury office with a list of appointments which I had to make. In doi'ng so, I endeav ored to fill all the offices with men of ca pacity, integrity and experience. I likewise. paid my respects to the Secretary of \War, in company with the South Carolina delegation, and endeav ored to lay before this high functionary the true condition of affairs. in South Carolina. I regremted not. seeingOGen. Howard, who. is at the head- of the aFreedimen's Bureau in Washington. But I addressed a letter to him, giving him my views -in roference to the freedmen, and asking his instructions. The whole South Carolina dalegation were earnbst in their efiorts to impress the President, and his Cabinvt with 'the impolicy of garrisoning South Carolina willt colored troops. 1 had hoped to have seen Gen. (Olmore on this subjtet as I. returned through Columbia. The last interview I had with the President, he requested me to write him; and keep him informed as to any difm culties which I migh-t meet with in organizing at Provisional Govrngiunt. I said to him, "I have already, Mr. President, organized a Provision'al Gov. ernment for South Carolina, by adopting the State Govornment. I have' issued my proclamattion, ordering all civil offers in Smith Carulins to take the oath of allegianve aind resume their official duties." "Well," saichrie, "yon, are a most expeditiois Goyernor." I replied by saying my appointment came late, and I thought it necessary to work rapidly. 1 !urther said to him that I would have the Stato ready, with her Constitution reformed and her members of Congress elected by the first Monday in becember, when Congress con vened. In 'conclusion, let me sa to yon4 fllow-citizerns, that I am well pleased with all that Isaw and heard at Wash. ing in reference to the Southern States. Let us now do our duty, take the oath of allegiance, elect good and wise men to the Convention, reform our State Constitution. abolish slavery equalize the representation Qt the State in the Sonate, give the election of Governor and Presidential electors to the peo pie, and al will be well. Immediately after the; Convention line eformed the. Constitutioii, the iLegislature will be' convened.- to elect .United States Sena tore, and provide for the election of members of the House of Representa tives in'. Congreas. This may all bo done by the first Monday in Decembei next when the State will be fully res tored to all her rights under the Consti: tution and laws of the United States. MagnnimousTmptr of the South. ern Pepyle. The sub joined articlo. frot the New York Worl4 contaitis Inany just state. ments and judiciQue roeetionis, whioh, we trust, the A&dministraions and the people of the North generally wil .cahly pondler: 'The bearimg of the Souzthieru people tander their defeat, nd the snm~nge joh of property involv in the emane~i4e of thetr slaves, is teore eneropn ttialj ad self-respbeting than we 'ha4 an9 reason to expect. rem the ?of~nia6 to she Rio Grande~ there is tio4 ~ti'gle uerilla band nonasy deato~tp estance to lhe~'ederal apzt~ld~ iuential stat et of Ste ~oth 8 their trusted nmilitaryled~ aoe ed, to a man, . 'onl .and hnake the best of the Ven. tie r hopi lb ~the nht almnost .i-fre s au pe 3piat paden, nd lenids hais e - 0 to a ieste. and fki$i. to the Southern statenen of equal distinction, h"e woade adnees. counselling ac. qtiescobce in the nbolition of slavery and fealty to the Federal Government.. The Soathern newspapers are ahno'st universally condti ed in the minur admirable and wanly spitit. There is no contumacious sullennesm, no captious, defining on the Constitution, no refrac-. tory assertion of State sovereignty, nd. harsh criticism of the policy of President Johnson, none of the haughty tone ef self-assertion once so characteristic of Southern public men. And yet there is nothing servile or crqven'in the gen eral tono of acquiesconce ind submission. It is the simple manifestation of good sense and manly feeling, which accepts the inevitable without womanish petu. lence, and seeks, in a straightdorwardi manner, to adapt itself to the .actual situation. As Americans, the South has given us no reasons to be ashamed of our country'men. They made, to be sure,.a terrible mistake in going into this contest; but once in, they bore themselves with a resolution, gallantry, persistence and fidelity to each other, which did no discredit to their public spirit, and soldierly qualities. The he-culean and protracted exertion we.were compelled to make to subdue them, attest their vigor and ardor; and, Ad-er so tough a contest, we cannot deny tem the posses. sion- of great qualities without humiliating self-disparagemuent. But the fratiJness of their submission. when they saw they were beaten, is as conspicuqua a proof of magnanimity as the chivalri do. termination. with which they fought against superior odds. It adds to our sense of national strongth) that, in fdture war with, foreign powers, we shall have the support of men who understand to well the- duties of soldiers and citizens.. - Considering their present ,adnirable bearing, onght we to treat thinx'as friends or as enemies ? When w separated fromnk-Great Britain we pro. elaimed to the world, in the Declaration of Independence, that wo should hold the Britons,. like other foreign peoples, "nejies in war, in peawo (riends." Shall we tres tour own repentant hrothren with less magnanimity thanl forhign nattms practico toward eaoh:'other? Having 'treated thies brave and mi. guided fellow countrymen us ene.mies in war, shall we refuse to treat. thteug as frienda -in peace ? .Why shoul4 ohir newspapers teeni with calumnies-on their,; character? When they So ~fraskly accept tho' new order of things, and the mighty ruvolution in their sooial system, what sense, what 'magnanimity, what decency even, is there in .subjecting themn to needless humniliation and in dignities?. Nobody fears a no,.rebel. lion; nobody. believes that ;he (rank submission of the South is. feigned ; end it is unworthy the character of a gre.at nation to practice a men, suspicious, a64! irritating surveillance over a proud 4td i spirited community who bearthqmselves with such sense and self-comman4 nuer oue of the greatest trials through wbibfr any people was ever. called to pass. Coo.aDo Taoos.-We think 4he. Government would consult Ita own in. teresta by' removing the iegro'troops from our towns and villages. We ate subjugated, whipped, beaten, and we debuir. - to be ged citizens, a peaceabl6 people, and will support the . Govewr ment and obeyf the laws, if given t'o:w:. derstand what our dutk.. are., Bt 11, our prejudices can't be overcom.iano. titoment, nor can we in .a broath tratfs. term the ignorant Atrican, just set ife into a well behaved citizen. There Iue been tiothing hot trouble in esery'pe -vs where negi* roop; have been $Itaqnd inthis State, and we .Are Ase 4 at this vetyv thement the 'tnost bpIu~. outbreaks are considered1 ImuatMa Wilraiugton. Adqpit that Iii ofoIs troops conduct thiemseltes *and that tedsiineis -good, and ds gay to be apprehended - demoer aliuing influencesnf r presnce on the negro Pop "auses the wbites to feel tha 'ge - constantly subject to te bu orth of an' ruption that. haF all before IWe are aothing upon the military an ties, nothing upen the Goveenment welhave nothing buit the good. of the Btate And country at heart, and it is as the friend of ,the .Admlhnstration that W~e may these thiugs. The fewt c~l~on tents fin this State make a gobd deal of fuss, but we 06 not cobsider thie dan-. gerods,~..AhdgA )4%gre. - Pancxx.--We 14arn that a tele. -gram from Wshigonu ha. lieen mceir 4ed iis 1eb ~tqu ing, eth.ompletet ~ ~ dic~paEpardon omu qstemrd ea-9 apel Ib aiyr frienad ttha.-G a