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COLUMBIA. Saturday Morning, May 12, 1866. National Barnies. Tho rooent explosion of the Nation? al Bank of Washington has drawn public attention to the manner in which these institutions are organ? ized. This bank, it appears, was a a public depository, and by its failure the Government has lost $400,000, and other depositors- all the funds ) they had committed to the reckless speculators who had the management of the institution. According to tho law creating na? tional hardes, if they do not violate their charter, there can bo no failure among them. That law provides that no bank shall be permitted to issue a greater amount of circulation than ninety per cent, of the par value of the Government bonds deposited with tho Comptroller of the Treasury, nor issue a circulation to a greater amouut than the capital actually paid in. Moreover, each stockholder is indi? vidually responsible for all contracts, debts and engagements fr> the amount of his stock. Tho law further pro? vides that no loan to any individual, firm or banking house shall exceed one-tenth of the capital actually paid in. And still further, an? other stringent provision declares thatif the directors shall violate, or knowingly permit any of its officers or agents to violate the Act referred to, the charter shall be forfeited, and every such director shall be held liable in his personal and individual capacity for all damages that may bo sustained by any party in consequence of such violation. The bill further provides that at least tliree-fourths of the stockholders shall have resided in the State ono year next preceding their election as directors, and be re? sidents of the same during their con? tinuance in office. The Washington Chronicle, in commenting on this failure, says: "Every director of a national bank takes a solemn oath .that he will, so far as the duty de? volves on him, d?igently and honest? ly administer the affairs of such asso? ciation, and will not knowingly vio? late, or willingly permit to be vio? lated, any of the provisions of the law. ' That there has been open aud gross violation of law in this caso is evident. Ii the directors were igno? rant of, they were criminally negli? gent of their sworn duty. If they knew of it, and assented to it, they are responsible to the extent of their means for every dollar of loss sus? tained by depositors, stockholders, or other persons. It is difficult to frame more stringer*, provisions for the safe" ty of a bauk than are found in the national currency Act. If a bank fails in spite of all tho safeguards . thrown around it by law, it can only 1 bo through the grossest misxnanage tinent or by downright fraud." ' It is clear to us, therefore, after reading these provisions -of the law, that whatever depositors may suffer, or whatever penalties directors and stockholders may be hable to, the note-holder is perfectly safe, and if he holds a note of such a bank which has failed, ho has only to present it to the comptroller of tho currency for redemption. The system, however, is defective iu some way, as this failure shows. The capital of this bank was only $200,000, yet it is reported that a, party in Baltimore had borrowed from it about $500,000. Therefore, there, must be some side-door for fraud, and a faithless board of direc ,. tors or officer eau swindle all the de? positors in any bank, by lending their money to stock-gamblers or others ou whoso profits they most probably depend. As wo have little or no specie for a currency, and must have some kind of paper money, let ns have the regular greenbacks, for the redemption of which tho faith, honor and resources and credit of the Government are pledged. No national bank in the Southern States has yet failed, and this, we pre? sume, is owing to tlie high charactet of the men selected for its manage? ment, and to tho further fact that our people are not much given to specu? lation or stock-gambling. PUESIDENT JOHNSON.-It is stated that President Johnson has, within a day or two, signified a purpose not to leave Washington during tho summer for watering places or elsewhere. His daughters, Mrs. Stovor and Mrs. Pat? terson, will probably *pcnd the slim? mer in Tennessee. " ' A Foreign Review. I Dr. Charles Mackay, in a long and interesting article written for thc London Fortnightly Review, entitled 1 'President Johnson and the Recon? struction of the Union," makes a very fair and comprehensive review of the ?political situation of tho* United States since the war and the accession of Andrew Johnson to the Presidency. His views aro those of an educated and well-informed Eng? lishman, and will command attention throughout tho British Kingdom. He seems to understand thoroughly the character, motives and policy of President Johnson. Speaking of the occasion of his accession, he says "the people were in grim, it might bc said in savage, earnest, and they gave Mr. Johnston au earnestness of support never before Riven, because never lie? fere required, in the history of the nation. Even Washington, nt thc acme of his glory, never received auch spontaneous, such unqualified and such unanimous adhesion as was accorded to this man, who gloried in being a 'plebian,' in what seemed the very darkest hour of the national fortunes. And it was because of the very darkness, that thc least departure from law might have intensified, that the people gathered around the light of legality, and saw in Mr. Johnson's rule the best and only chance of guidance and deliverance." He then traces the'policy of the President step by step, fairly and with an evident knowledge of its in? terests and objects, and with a pretty clear idea of thc purposes, the hopes and the fears of the radical party. On the latter point, Dr. Mackay says : The party opposed to the Presi? dent dread, and apparently iu good faith, that tho reconstruction of the Union, in the mode proposed by the President, will leadlo three several, and in their opinion, three enormous evils; first, a victory for tho Demo? cratic and State Rights party, and the re-assumption of power by South? ern statesmen, reinforced by the Northern and Western Democrats; second, the re-establishment of negro slavery-if not in mime, in fact; third, tho repudiation by the South, aided by a large party in the North, of the national debt. Rather than one or all of these things should be, the party that is only a majority by the exclusion of the South, would hold the cotton States for an indefi? nite period as conquered dependen? cies, and govern them by military authority, at any cost to tho public purse and the public liberty. Ad? mitting to the fullest extent the ho? nesty and sincerity of the Northern politicians who continue to hold these views, let us inquiro dispassionately whether their fears have any founda? tion in the facts or probabilities of the ease. In the concluding paragraph, he pays the following high compliment to the President's patriotism and statesmanship. Speaking of the pros? pect of a rent union of these States, he says that "if such a union is to be the result; it will bs the imperish? able glory of President Johnson, and his undying claim to thc gratitude! of his country, that lie was sagacious enough to see the right course, and bold enough to follow it. Among all tilt? statesmen of his age he stands pre-eminent. There is not a public mau in Europe, unless it be tho Em? peror Napoleon, win? does not appear dwarfed when placed in comparison with him. Greater is his task than that of Washington: brighter will be his place in history if he perform it." We have not room in our columns for tho whole article which appears in the New York News. It is one of the fairest as well ?is ablest reviews of "tho situation" that has yet come from England. Letters received in New York stat?? that bishops Stevens, of Pennsyl? vania, and Whitehouse, of Illinois, of the Episcopal Church, were in Rome on the 0th ultimo, and on that day had a private interview with tilt? Pope of a most agreeable character. On the following day, they had a private audience from Cardinal Anto nolli also. The Commissioner of Agriculture at Washington, having exhausted the stock on hand, hus discontinued the distribution of flower seeds. The issue of vegetable and garden seeds will be resumed in a few days, in order to meet the great demand of the public. Stirling King, who confessed that it was he who stabbed Mr. Seward, has been released by the military from the Louisville, jail, there being no charges against him. He was cap? tured nt tho sanio time with one-arm eel Berry. A negro at Cincinnati sued the judge ut an election for refusing his vote. Ho claimed $10,000 damages, ami the jury gave him ono cent. / 'the crops? GEO?GIA. -The Atlantrt Int?iUigencer says: ' 'The cotton crop will turn out to be an exceedingly shori one, if the half that has been reported to us be true-which is, that most of the seed planted has proved to bo imperfect, the plant itself, after its appearanco above ground, almost invariably fail? ing to take root and sustain its growth. This, with the experiment of free labor, now being tried in the State, warrants, we think, the conclusion to which we have come, that tho cotton crop of Georgia will be an exceedingly small ouc." The cotton crop in Houston is re? ported as looking well, but badly in need of work. The cotton ero]) is very sony, not a half stand. The Southern Walcliman says that in all Counties of North-western Georgia, the wheat crop is very pro? mising. There is a greater breadth of land devoted to it than usual. In Muscogee and vicinity, corn looks better than cotton. Wheat and rye arc doing well. There will be plenty of fruit. NOKTH CAROLINA.-Wc regret to learn that the stand of cotton in this County, which has boen planted lon"; enough to be up, is bad. Tho weather has boen unfavorable to a good stand, but doubt is expressed in regard to thc character of the seed. [ Raleigh Sent i url. |We hoar pretty general complaint in this County that tho cotton seed planted is not coming up. Many pcrsous are replanting, but whether they will meet with better success re? mains to be seen. The difficulty seems to bo that the seed have lost their vitality in consequence of having been kept in heaps for two or three or four years past. We hear the same complaints from States further South.- Charlotte Democrat. FLORIDA.-The Gainesville (Fla.) JVcir Ern boars very many complaints about the stand of cotton in that sec? tion. Tho failure is attributed to tin use of old seed. ?Such are tho reports from nearly every point in the South. The ovil will probably prove so wide-spread that it will havA> a material effect upon the aggregate product of tho staple. These reports, too, we imagine, will have tke tendency to check the de? cline in the article. THE EAST TENNESSEE CONVENTION. The Convention called to consider the propriety of organizing a separate State Government for East Tennessee, mot at Knoxville, on thc ?id instant, and was presided over by ono Judge Rogers. The Committee on Besoin tio sand business reported an ad? dress, which was adopted, stating that tho scheine of separation had long been cherished hythe people, that there were irreconcilable differ? ences of feeling, habits, Ac., between tit?? Eastland Wes!, and concluding with statistical statements of the po? pulation, square miles and resources of East Tennessee. A resolution ad? vocating a postponement of the ques? tion of secession was voted down. A committee was appointed to bring the question before the Legislature, and another committee to prepare an address to the people and Legisla? ture. BnoKEES.- Guided by the recent decisions of the Supreme Court of the United States, the Commissioner of Internal Keveline rules that when a broker is engaged in selling, not only his own stocks, exchange, bullion, coined money, bank notes and other securities, but also in selling thom "for others, or for a commission," ho is '"a banker doing; business as a broker," and is liable to a tax upon all his sales, sides of Iiis own stocks, kc, included; and the internal reve? nue officers have been instructed to proceed at once to the assessment ami collection of such taxes upon tho sales of brokers, and of "bankers doing; business as brokers," as still remain unassessed or due ami unpaid. Quite a flutter has been created in Mobile, in consequence of an order received from,Washington for the ar? rest of a prominent official in the Treasury Agents' Department of that city. The books and papers under his can; have been seized upon. It is said that frauds on the Government, amounting to 81,000,000, have been committed at that place. No names are as yet divulged. -> ? ? ? Ex-CoNFEPEllATES. Speaking of the scenes of bloodshed and arson in Memphis, the Appeal says: "Wo have reason to believe that ex-Confederate soldiers have not been concerned in these turbulent occur encesof the past forty-eight hours that they are rigidly, according to the terms of their parole, 'observing the laws of the place where they reside.' These breakers of thc peace, black and white, are not of the vicinage.' . THE NEORO SQUATTERS ON THE An LiNuToN ESTATE.- The control of the freedmen's village on the Arlington 1 estate has passed out of the hands of the New York Tract Society into those of the Central Committee of the American Missionary Association, and Kev. Daniel Miles, ot Worcester, Massachusetts, has been appointed superintendent. There are about 1.200 freedmen there. . ?. The clerk of thoFreedmen's Bureau Court at Savannah has absconded with the funds of the litigants. ) AM?1;!<'AN INFI?ITENCE ABROAD. The Lo?don correspondent of tho New York Ifeics remarks upon the division in American politics und the non-restoration of tho Union's ele? ments of weakness abroad. He says what is too natural and logical to be denied : The truth is, the aspect of affairs in your country has greatly encour? aged the French Government. When the Confederacy fell; when Lee sur? rendered his sword; when the South suddenly gave up the struggle; when the men of the South submit? ted to the arbitrament of war, and submitted to the Union, it was felt in Europe that the Imperial game in Mexico was over, unless it was to be sustained by the military power of j France. Dut as it seems to Furope, ! the Union has not been restored, and j you are still a divided people, lt is I now a year and seven days since Pre ! sident Lincoln entered Richmond in i triumph, and yet the South is still 1 out of the Union. I do not presume Ito oller any opinion upon your do? mestic affairs. It is not the pro? vince of :i foreign correspondent to , criticise your national policy. It may j be that it is necessary and wise to treat the South ?us a conquered pro? vince It may bo that tho conflict between the American Executive and the dominant party in the American ? Congress is inevitable ?md healthful, j It may be that thc exclusion ot" tho South foi- yours is but the prelude te a lasting Union. I have only to deal with fact?, and it is my province to tell you that your domestic strife, I whether it bc inevitable or avoidable, I whether it be for good ol' evil, weak i ens your influence abroad. Napo : leon is acting upon thc conviction that you arc a divided people, and that he eau do as he likes in Moxie??. Had thc Southern members of Con gross taken their places in the Capi ' toi, had an amnesty followed peace, there would not at this moment hav? j be en a single soldier owing allegiance I to thc Emperor Napoleon. Mu. JOHNSON'S FIRMNESS IS Ti:u, i INO. lt is said thc radicals reoonsi : dered thc vote upon the ameudmen J to thc post office appropriation bil \ restricting thc President's power o i removal, because they found out thu j he would certainly veto the wholi ? bill and let tlu; post offices be close? I up. Mr. Poland said he would no \ stand before his people on thu ; amendment. Speaking of this voti j of reconsid?r?t ion, thc Xntioiuil in j lelliyeiteer, of thc 8th, says: . "Thc things presaged by the dis j cussion in tin- Senate yesterday were j that numbers of the more thoughtfu Republicans iii Congress will no I longer sustain the head-long polio; ' that has been thus far forced alon; j in the channels of legislation, unde ! the leadership of Mr. Stevens. An I particularly is it indicated that mea ? sures to abridge the usual exei j eise by the President ol' his prerogn I tive in respect to appointments cai Hot bc passed over his head if Vet oct . Nor is there longer danger, wc fe< j persuaded, that thc most odious fe; tures of the disunion scheme of th Reconstruction Committee can <>1 I tain tin- requisite Constitution! I sanction when subjected to the onie; I of Executive disapproval. We hail th ? indication of right reason as enron ! aging to union, as going a step in tl ! direction suggested hythe enligh cued public sentiment of L"urope, : giving hope to th?; depressed bus ness interests of the country, and ; strengthening the public credit. : is now :i favorable opportunity f< : such constituents of Congressmen ; I are not politicians by trade to aid ai comfort all those who. in the \\v. councils of the nation, are dispos* : to act for country, and not merely ..bey the behests of violent purl sans. " I THE TWO SHERMANS. The Ric mond Times concludes its commet) on Gen. Hampton's letter with t' I following scathing paragraph: "To us it seems incredible th Sherman the 'General' and Sherm; the 'Senator'can be the children : the same parents. How the form i must blush at the disgrace which h i fallen upon the family, when heron , of the marvellous valor and prowc exhibited by thc latter in calli Wade Hampton au 'impudent i bel'and a'whining cur,' Place t j vituperative Senator face to fi : with Wadt! Hampton, and he wot not. for tlic fame of Grant and t wealth of lintier? venture to call h a 'whining cur. RI'MOKEO DEFALCATION, The P> I ton Tnt relier says of the Hon. Ls? j Newton, who presides over the Aj. cultural Bureau, and whose scient attainments are well known : "It is charged that Commissio Newton, of tho Agricultural Deni nient, luis boen guilty of fraud, misappropriation of public money 1 keeping fictitious names on the p j rolls of his Bureau, and putting money paid ont for them into his i pocket; of renting needless buildi nt Government expense and for I own bein tit."' / Four of thi' negroes who corni ted burglary and other outrages Mr. Scott's, near Dee)) Gully, N j bern, N. C., have been convicted . sentenced to be hiing. h Severe but .Tust. Thc Richmond Times is responsible for the following: "Tho editor of the National Intelligencer is greatly to be envied. Ho has a complete file of the Washington Chronicle, in the columns of which the 'dead didapper' has been turning summersaults once a week for five years. During the last hall decade, Forney has daubed with praise and bespattered with mud every prominent politician and lead? ing measure. With this terrible record of his innumerable apostacief at his elbow, tho editor of tue Intel? ligencer is enabled to impale the 'dead duck' at least three times a week. Il ho quacks forth his abuse of nm distinguished personage, it is simply necessary to turn to the Chronicle tc find the most fulsome and sycophan? tic flattery of that very person bj Forney. If he denounces any pub? lic measure, straightway the Intelli gencer re-produces from the editorial columns (d' the Chronicle the mosl violent advocacy of that very mea? sure. "Providence having wisely provid? ed every animal with an epidermis sufficiently thick to protect its owner, Forney is, of course, protected like ; crocodile, with a skin of uncommon thickness. Occasionally, however, the harpoon of the intelligencer h driven so very deep that ho rises tc the surface and 'spouts blood.' "For months past the 'dead ?luck luis clamored for the trial, conviction and execution of Mr. Jefferson Davis. The desire of Forney for the death ol Mr. Davisdates, it is said, from the re? furnishing of the illustrious prisoner'.' wardrobe last winter, as the wearing apparel of tin; victim is always th? perquisite of tin- hangsman, and m species of plunder comes amiss witt Forney, tn the midst of his hoarse, red-mouthed yells for th?; blood ol Mr. Davis, the Intelligencer reproduc ed an editorial of Forney's highh eulogistic ol'Mr. Davis, which artich was written after th?; first battle o Dull Run. This (rentre shot was mon than even the 'dead didapper' coule stand, and his efforts to wriggle out of the difficulty are intensely funny His admiration for the late Presiden: of tin- Con federate States was attri butable, no doubt, to tho proximity of the Confederate forces to Wash ington. Had the fortunes (d' wa placed the Federal capital in tin hands of the Confederates, everybody knows perfectly well that in tel minutes after the fall of thecity For ney would have crawled to the Whit House and humbly sought the pos of organ grinder to th?! very man fo whose blood lui is now so clamour ons. If published in Salt Lake City the ('?ironide would advocate poly", amy. and if in the Fejee Islands i would stoutly recommend cannibal ism. THE FREEDMEN'S COURTS DECTDEI TO ni: TRESPASSERS. Judge Trigg, c the United States District Court v Memphis, has pronounced a decisio in the case of an application for a injunction against the execution b General Rankle, Superintendent ? tin- Freedmen's Bureau, of a jude nient rendered by (ieneral Runkle i favor of a freedman, according t which it is held that, these Purea Courts are trespassers, and liable t be proceeded against by the courts ( the State as other trespassers. Judge Trigg decides that th Freedmen's Bureau Courts could oui exercise authority under military lav ."If." says he, "these courts coul exercise any legitimate authority, i claim for their judgment or deere? any binding effect or efficiency, thc could only do so by virtue of the connection with the military powe * The recent proclamation < the President of the United State declaring that an insurrection 1 longer exists, is a declaration i peace, which sweeps from among 1 everything which savors of militai constraint upon the rights of citizen and restores to them the ordinary ai peaceful channels for tho assert? and enforcement of those rights. * The war being ended, that is an ci t(> the court, and there being i longer any such court, the officer the Bureau has no longer authori to act in that capacity, and to enfor judgment or orders, whether ma before or since the declaration peace. If he does so, and under th pretext seize the property of a ci zen, he will become a trespasser, ai may be held liable to damages to t party injured." - METHODIST CHURCH SOUTH.-T General Con fen-nee of the Episcoj Methodist Church, in its session yesterday, adopted the proposed 1 representation in their animal a general conferences, allowing lay delegates from each district ci ference in the annual conference and four for every twenty-eight i lusters from each annual conferer in the general conference. Thisp vision, like all the leading measu j of reform made by this body, nv be ratified by the annualconferenc I New Orleans Picayune, 3</ Tn the Court of Admiralty, Li don, on the 24th of Apill, il was creed that the steamer Cam?l?on, late nd a-I cruiser Tallahassee, ly at Liverpool, l>e delivered up to United States Government. The leged owner did not oppose, and 1 condemned in costs. Mr. Janies li. Slay ton, of Cha nooga, publishes Colonel Wade, c< mandant <>f the negro garrison that place, ns unworthy the notice ! a gentleman. Local Items. Mortgages and Conveyances of lteal Es? bato for sale at this office. LKOAA..- lu the Court of Errors, yester? day, the causes involving the constitu? loc? ality of the Stay Law wa? again taken np. Mr. Harlee concluded his argument. Mr. Spain was heard in reply. THE BOBOTNO OK COLUMBIA. -An inter eating account ot the "Rack and Dentine tion of tho City of Columbia, S. C.," ha.? just been issued, in pamphlet form, from the Plum ix. steam power press. Order? can be till<:d to any extent. BOOK AND Jon PRINTINO. - The Phoenix office is now fully supplied with cards, colored and white paper, colored ink, wood type, etc., and is now in condition to exe? cute all manner of book and job printing in the shortest possible time. Give tts a call. THE CONCERT. -It will be seen by adver? tisement that the concert for the aid of building the Washington street Methodist Church will be Riven at the ball of Nicker son's Hotel, on Monday evening next. Tho programme of the performance will hu given in to-morrow's paper. Rey. C. H. Pritchard will preach in tho Marion Street Church, this morning, at ll o'clock, and this evening at early candle? light. The Third Quarterly Conference for the Marion Street ('burch will be held immedi ! alejy after th? morning service, and the Conference for tho Washington Street Church will lu- held at 4 o'clock at the office of lt. Bryce, Ea?j. NEW ADVERTISEMENTS. Attention is call? ed to the following advertisements, winch are published this morning for the first time: T. J. Gibson Cow Pea?. Hardy Solomon -Mountain butter. J. C. Seegers-Sundries. John McKenzie French Confectionary. Washington Street Church- -Concert. ' A public meeting was held in Lou? don on the 24th of April, under the auspices of the Duke of Argyle, Mr. John Bright, and others of lesser note, for the inauguration of "The National Freedmen's Aid Union of Great Britain." The object of the society is the making of "extended efforts in Great Britain to aid the freedmen of America." If it is the purpose of these gentlemen to extend material aid, and not morai, to the freedmen; to send them money and farming utensils, and clothing, rather than tracts and missionaries, then they have our most earnest wishes for their success. Nothing could so commend these professional philan throphists to us as real, earnest efforts on their part to relieve the unfortu? nate white people of the South from thc crushing burden of negro pauper? ism which tin; war has thrown upon them. But we very much fear that this forms no part of their plan; that, on the contrary, it is their purpose to help Mr. Thad. Stevens and his fol? lowers to fasten the burden, for all time, upon the industry of the South? ern white.-New York News. CAMPBELXI'S FORTE.-Those who have read Campbell's "Battle of Ho? henlinden" will be amused with the following : A gentleman in Scotland preserved an old number of the Greenock Ad? vertiser, containing the following an? nouncement: "Notice to Correspondent?.-T. C. The lines commencing 'Ou Linden when the sun was low,' are not up to our standard. Poetry is evidently not T. C's forte." A business finn in Memphis re? cently detected a thief quite adroitly. They had missed money from the till for some days? amounting to $350, but could not detect the guilty party. The cashier, a few nights since, emptied into the draw a cup filled with nitrate of silver. The thief went to the till to make his evening's capital, and in abstracting the money covered his hands with the nitrate, which he was unable to get oft". An. examination of his paws in the morn? ing proved the fan.e paws, or thief's, and the guilty party was arrested. The General Government intends to build a largo and commodious naval hospital on the grounds occu? pied by the Naval Asylum, PhiladeL * phia. The building is to be 309/feet long by 03 feet in depth in centre, and 27 feet in depth on the \*ings. The structure is to be of Connecticut brown stone, hammered stoneJ from the Delaware County (piarrie? and pressed brick. r Gen. Stonenian's carriage iiorses van away in Memphis the otheV day, and running into a bayou, they Were both, together with the driver, drowned. Stoneman was not in ^ho carriage at the time. lt is rumored that Mrs. Stover. President Johnson's daughter, & shortly to be married to the Hon. Edwaid Cooper, member of Congress from Tennessee. Gen. Rosencrauz's name was not in the list of recent promotion; the quarrel between Grant and Stan toi and himself is said to be deep and bitter. Judge Frazier, United States Judge in Florida, hus decided the lawyers' test oath unconstitutional. At the New Orleans races, on tho ; 3d, Nebraska, over-heated, dropped i dead after the second heat.