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_ COLUMBIA, S. C. Frilay Morning, Apri)/?3. 18?9. Paper Monty ??. l'rccioua metala. If a paper oircnlatioD be not nominally redeemable in gold and silver, then as soon as it depreciates below the value of gold and silver, as it always sooner or later does, it drives the metals completely out of circula- ' lion, and keeps them-ont just as long ns it circulates, or until tho quantity of suoh pa? per is so reduced and its character so im? proved that it risc? again toa par value with the metals, in which case, although there is no instance of its occurrence, the metals would come back into the currency with thc paper. Paper money walks by faith, and not by sight It is the sign, and not tho thing .cigni?ed. It is the representative of something, and not tho something itself. It is a mero promise to pay something. Since, then, the various forms of paper -money .io mere promises to pay on de . mand, they are nothing but credit money, .nd it is a grave question whether the func? tions of money can bo well performed by the evidences of un obligation to pay for aor.vices already received. Such evidences frequently have value, and their value is sometimes equal, and sometimes superior, to an equivalent sum in gold; but the quos ?ion is, whether in their nature they can constitute good m'oriey. The functions of money ? are two-to serve as a medium of exchange?, and as a medium of value. To fulfill thovfirst office well, money should bo -.a.commodity at .all, times acceptable to all , ~men in return for sorvices rendered'-to per? forai the other function fully, money should T>e aa uniform" as possible in quality, and vary in quantity according to tho shifting < demands of exohaugo, and not otherwise; 1 in short, vary in quantity, just as good me- . tallie ourrency does vary under natural laws alone. But paper money is unfitted to do well these two things; first, because it never ; has been, and in the nature of things never can be, acceptable to all men, nt all times, . in exchange for services, even within the i . country itself, and in international exchange 1 . not acceptable at all; and second, because a steady measure of value necessitates a steady value of tho money, and the value of ero- 1 .dit must certainly be as variable as the '. character of tho issuers for integrity and solvency. These fundamental principles seem to bo ignored by the men in power, who regard a paper currency .as equally .good, if not preferable to specie, and .hence arise the various and oomical blun -ders that are continually being perpetrated in Congress. If there had been the least familiarity with the primary principles of political economy, the country would not now be suffering from the follies of inex? cusable iguoranco and financial charlatan? ism. -o GIFT OV HIE GAB.-Sir Robert Peel, on moro than ouo occasion, invited Mr. Ste? phenson to Drayton. He refused at first, from indisposition to "mix in fine compa? ny," but ultimately went. On ono occa? sion, an animated discussion took place be? tween himself and Dr. Buckland, on one of 'his favorite theories as to the formation of ? <coal. But the result was that Dr. Buckland, a much greater master of tongue fence than Stephenson, completely silenced him. Next morning, before breakfast, when he was walking in tho grounds, deeply pondering, Sir William Follet carno up and asked him what ho was thinking about. "Why. Sir William, I am thinking over that argument I had with Buckland last night. I know I am right, and that if I had only tho command of words which ho han, I'd have beaten him." "Lot me know ull about it," said Sir William, "aud I'll seo what I can do for you." The two sat down iu an arbor, when the astute lawyer made himself thoroughly ac? quainted with the points of the case, enter? ing into it with all the zeal of an advocate .about to plead the dearest interests of his ?lient. After he bad mastered the subject, Sir William rose up, robbing his hands with glee. "Now I am ready for him." Sir Robert Peel was made acquainted with their plot, and adroitly introduced the subject of the controversy after dinner. The result was that in tbe argument that followed tho man of science was overcome by tho man of law, and Sir William Follett had at all points the mastery over Dr. Buckland. "What do you say, Mr. Stephenson?" asked Sir Robert, laughingly. "Why," said he, "I will* only say this, that of all powors above and under tho earth, there seems to be no power so great as the gift of gab." --o ROOBRS AND THOMPSON.-John tells a story of Thompson and Rogers, two married men, who, wandering homo late one night, stopped ut what Thompson supposed was his residence, but which his companion in? sisted was his own house. Thompson rang the bell lustily, when a window was opened, and a lady inquired what was wanted? "Madame," inquired Mr. T., "isn't this Mr. T-Thompson's house?" "No," replied the lady; "this is tho resi? dence of Mr. Hogers." "Well," exclaimed Mr Thompson, "Mrs. T-T-Thompson-beg your pardon-Mrs. Hogers, won't you just step down to th door, uud pick out Rogers, for Thompson nauts to go home." If o. 3.~Tii o Count y anet Town of Newberry. To inn FARMKRB AKD FiaAJKTKBS: The past baa been so memorable that no one who has lived through it will ever forget it. True, you are, not ritow as yon' were once; never? theless, beyond all other interests, yours ia this section since the wal has been exceed? ingly prosperous. Your prices huve been very remunerative; while your crops, in proportion to the laborers, have been abundant; and under tho stimulus of this prosperity, say what you may, your pre parutiou8 for the present crop are unusually largo. In oue respect, to illustrate what wo mean, the amount of fertilizers ordered fur oxoeed any quantity ordered bofore, evcu iu the brightest and palmiest days of slavery. What this year may bring forth is in tho womb of time. God knows, we do not. It is left to you to do your duty, and trust in Him. It is a cheering thought that this is not a fatherless world. If left to yourselves, well might you bo despondent. How often has it been the case, in this world's history, wheu confusion has reigned, whou socioty has been broken up from its deep founda? tions, when the wild, bad passions of men were let loose without restraint, that on un? erring hand, clearly visible in its results, as by tho untangling of a skein, has caused chaos to yield to order, conflicting olemetts to harmonize, and frantic, passions to sub? mit to tho requirements of a wholesome law. The same wise Providence yet lives to rule und ovcr-rulo tho affairs of meu for their good and His own great glory. lu this, if in uothing else, there is hope for the future. But while you place your trust in Provi? dence, you must also learn tho lesson of tho liour. Adversity has its own uses; it is sel? lout uloue n direct and extraneous inflic? tion; it is rarely wholly from without; it is not often uncompounded; it springs from both interior and exterior agencies. When you can separate them, and of the adversity which besets you you can say "this portion is miue-I did it, and not another; then, instead of whining over it and deploring your unhappy fate, it in your part as meu to lay hold of the offending cause, and if it struggle or resist, to throttle, to strangle and to destroy it. Your peril is greater by far from within thau without. If you have erred, err no longer. Learn to plant what you need. The interests at hazard aro the interests of yourselves. Let the past learn yon expe? rience. Yon labor under a mighty incubus. You labor under u greater deficiency thau the want of more gold-it is the want of grain to make your bread. The County ol Newberry has not to-day grain enougl within its limits to feed its population until the gathering of tho next crop. This may bo partly owing to tho droutl of last summer; but it is still moro owing tt your defective system of agriculture, thc education of earlier days. When will yoi learn to bo wise? As an illustration, thou sauds and tens of thousands of dollars worth of provisions wero brought here las year, and continues to bo brought up t< the present. The deficiency, then, is tin natural result of a bad system of agricul tore. You are presenting now, as ha always been the case, tho anomalous spec tacle of a people having upwards of $1,200, DOO worth of the earth's products for sal yet requiring a hirgo proportion of the re solis of sale to boy the common neccssarie of life. It has been the Southern planter's rule t make all the cotton he could, and as mud provisions ns was not inconsistent with th very largest possible cotton crop. This wa the rule laid down, and it has almost bc come a law. This passed muster under th old regime, but tho present position c things must teach you better; that yon mm make enough of bread and meat, and aftei wards, if you please, as much cotton i possible. You will then be independent i prices. The fluctuations of the market wi affect you very slightly. If drouth or dil aster come, yon will still bo surrounded b plenty. And beyond this, by this syston instead of exhausting your capitol, tl source of your wealth and subsistence, tl soil, will bo adding hourly and daily to i power of remunerating returns. Wo entreat yon, farmers und planters, you have not begun it, to turn over a no leaf; abandon the extravagant notions of tl past, ?co to it that every element of ii created fertility is carefully husbande Take caro that pastures, ample and nuti tious, aro provided that, como what ma from your cattle, swine and sheep, bo meat and clothing shall bo afforded. > largely increase tho breadth of your gra crops that oven drouth will leavo a st ficieucy for you and for your stook, ai afterward, by skillful cultivation and bea manuring, you will moro than cornpensn for tho diminished urea of yonrcotton ero receiving from a few acres that which pi vionsly you had wrung reluctantly frc many that were badly cultivated. Tho ordeal through which you ha passed, should have taught and will a must teach you to husbaud your resource to curtail your expenses; to practice ecot my, where in former years you were pro gal; to live within your means, and to tn caro of the fruits of your labor. You have only to devote your energies tho work of industrial development, in der to regain not only what has been lc but to advance far beyond what you lu ever conceived. With tho natural bounties which hi been bestowed upon this country-its B< its climate, its capabilities, you will yet tain a prominence and prosperity far beyc those hitherto possessed. LEAHOHU? Ki-GoTcrnor Wilo-I?Ii Vlevr? on tho Wmr and th? Abolition cf BlBTfry-TUc Patri? ot*? fla?/To-day. RICHMOND, VA., March 81, 18G9. Rev. James Mitchell. DRAB SIE: IQ reply to yours of the 28th instant, I can only say that I am perfectly content to await tho "delny" simply which was resolved on. It may be wise as to action, but is dangerous aa to the work of prepara? tion. Ot this, however, your authorities are i tho proper judges. As to the points in my first lotter touch? ing tho effocts of the abolition of slavery on the relations of the two branches of tho Methodist Episcopal Chureh, I can but fay that my convictions are strong, and if 1 clearly expressed them to yon, I hove no sort of objection to their publication. My letter's main subject-matter called forth in? cidentally un expression on these points, but not fully enough, perhaps, to be under? stood in a clear light. What I said, exactly, in that letter, I don't remember, butlkuow what I meant to say, and should have said, and have no hesitation in repeating now my true meaning. The long agitation of the question of slavery, its history before the war, and the war itself, convincud mo that au exodus from African bondage waa obliged to bo by the almighty hand of Providence. God knew what poor finite minds North and South did not foresee-that not liing short of fire and sword, of war and its blood and violence, could emancipate negro slaves on this con? tinent, in a country governed, as the United States, in tho form of constitutional repub? lics bound together by a constitutional union. Ry no steps iu normal times could Congress ever have abolished slavery; aud tho States would never have commenc?e] emancipatiou by peaceful means, gradual ol otherwise, for reasons which it would bc irritating now to state. It is sufficient to nay that too many in the South fought foi nothing but the right of property in slaves: und it is time that the North was inform?e that by far tho most respectable portion ol tho Southern people fought for somethinp far more precious than tho legal privilege o: being tho masters of slaves. They fought tor fie more glorious privilege of self government. They are willing to emanci pate slaves iu their own time aud own wa}* but were not willing to allow Congress t( regulate their domestic government au?' concerns for them either as to slavery ol anything else. Thus, these were doubl? restraints against emancipation which cou!? not be removed in time to prevent eithe iissolntion of tho Unioo or civil war. Tin war was a national necessity, permitted b; Divine Providence, to prevent (iu the end, . iiope,) greater evils than the war itself. Aud 1 mark this view of the case ns esson tial to guido all good Christians and patri ots in their endeavors now to ease a mos glorious country, still suffering from th iwful conflict, and in tho greatest daugor o ?osing civil liberty for all races iu the strug ?le to omancipate ono race. Tho view bavo taken is a helioccnh-ic one. It strive bo reach God's throne, and to look thenc nit upou tho ways and the end. That H ordered and directed and forced tho resul af emancipation of slaves in Americn knowing that there was no other way t bring it about and at tho samo time save a that is precious, I have not the least doubl A.nd I feel that ho who resists, orin any ut reasonable way obstructs, the legitima! consequences of this special provident "kicks against the pricks." This brings u the question: What should bo regarded us the l?gitimai consequences? My uuswer is peace. Til )ld strifes must cease and be hushed. Nux sharity, toleiation, brotherly and patriot kindness. It is not for me to upbraid yoi ar you me, for the offences and injuries < this war. Slavery was its cause, was oi weakness if not our wickedness, and Gc tias purged out its sin and satanic influent by fire and blood. His fire and blood, f< tho war was His if the sin was mino. Bi iv oe unto those, on either side, who sin cause the fires to burn and the blood to he dtor the sin and causes of woes have be< .mi nt to ashes. We must not keep the fir gnited-the ashes must be allowed to coe md then, as from battle-fields, thu gre? iierbaga may be made to grow more lux riant than ever; so good fruit may bo ma ;o spring even from tho cinders and ash j-f this horrid war. No mau, or set of me must dare to take any bolts of vengeance their hands. God often used tho heath co punish his own chosen people; but if th lared to do eveu His will in a heathoni ind unchristian way, Jehovah never fail Lo make them, too, feel His wrath. Let t North remember that, and that if tho v was Providential, then we all were but rm instruments of tho Divine Government, a mould not attempt to play potty pro loncos in tho place of God. If we do, will curso ourselves and country-wo v become petty tyrants. Guided by a catlin spirit liko this, aud looking to God all I time, in every act and plan, wo will prov the whito man from being enslaved by I causes which mudo tho black man free; will prevent tho continuance of thc eau which separated the Methodist Churcli the precursors of tho attempted separat A tho whole country; and we will cause whole country to be stronger, and safer, i Freer than it ever was or could be before. 1 have written enough, and you ara como to weave these views into those of first letter and priut them together. I have examined your pamphlots, i thank you for them. Very truly and rospecti illy yonrs. HENRY A. WIST [Atlanta ((ra.) Christian Advocat --o Thc actors in tho Odeon Theatre, Pu have a three months' vacation in tho s mer during whioh fieir salaries are co nued precisely as whon in active scrv Tho Odeon is naturally a very pop theatre in tho profession. XLooAl Items. -O-r ' DEBTS AN? ASSETS OF THE STATE.-Upon iuquiry at tho Treasury, wo haye received the following statement of tho funded debt of the State, and interest thereon, together wita the assets to this date: Threo per cent. State stock-principal, 838,836.GO; interest, Si,456.37. Sis per? cent, fire loan-principal, $314,453.89; in? terest, ?23,584.04. Fivo per cent, bonds, fire loan-principal, $184,414.51; interest, $66,922.10. Six por cent, bonds and stocks funded-principal, $1,282,971.27; interest, $96,334.01. Six per cent, new State House bonds-principal, $2,286,600.00; iuterest, $171,595.00. Six per cent. Blue Ridge Railroad bonds-principal, $1,000,000.00; interest, $75,000.00. Six per cent, redeem? ing notes of the Bank of the State-princi? pal, $1,033,900.00. Total priucipol, $6,441 206.27; total interest, $434,791.52. Provi? sion has been made to meet tho intorest up to July 1, 1869. Assets of the State cu 31st October, 180:$: Shnres in North-Eastern Railroad Com? pany, $120,000; shares in Spartanburg and TJuiou Railroad Company, $250,000; shares in Pcudletou Railroad Company, $42,500; shares iu Greenville and Columbia Railroad Company, $4,383,960; shares in Blue Ridge Railroad Company, $1,310,000; shareoin Co? lumbia and Augusta Railroad Company, $42,200; sharos in Cheraw and Coalfields Railroad Company, $200,000; shnres in Laurens Railroad Company, $50,000; shorer iu South Carolina Railroad Couipauy, $24,000; shares in Charleston and Savannah Railroad Company, 8270,000; shares in Sontb-Westeru Railroad Bank, $6.000 shares in Keoweo and Tuckaseegeo Turn? pike C >nipauy, $6,000. Total, $2,751,600. -o TH? CHAWJOTTE ANO SOUTH CAROLINA RAILROAD.-Our friends of tho Wiunsborc News have such a pleasant way of compli nieutiug thc officials of the wcll-munagei Charlotte Road that, despite the pressure r?n our columns, we cannot resist tho agree ablo temptation of copying tho subjoinet uotico and adding to it our hearty Amern Says the News : "A treat yet awaits those who have nevoi visited Augusta by way of Gruniteville, S. U. It has recently been our pleasure tc io so, and we were delighted with every thing connected with the neir short linc tc the 'Old Empire,' and wo advise oui [riond.s who have business in Augusta, oi i small surplus of the needful uninvested, to try the Columbia and Augusta Road ind if the sights in the beautiful oity dc not repay, then tho luxurious coaches, th? polite Capts. Trezevant and Gormley, anc the polished Captain Wolfe, the richlands, the romantic scenery, the evidence of pro ?jress and dusiro for peace, will. "By the way, we picked np the genia ind energetic Superintendent, Mr. Calel Bouknight, and had the pleasure of a fe.v words in regard to tho great convenience ind success of his new enterprise. He i i thorough business man, and urbane to th last degree. "Much credit is due to Col. Johnston ind his ablo staff, for their great energy ii the foco of obstacles which not unfre fluently seemed, insurmountable." -o THE COLUMBIA HOTEL.-It will gratif >ur friends in the State generally, (but pat ?eularly tho up-country folks who have so ourned with us in tho post two days i ittendaneo upon tho stockholders' meetini jf the Charlotte and South Carolina Rai road Company,) to kuow that tho new bott will positively be opened in time to accon nodate delegates to the Agricultural Cor ?rention and to tho meeting of the stool folders of the Greenville and Columb Railroad Company. To accomplish th rory dosirablo result, tho enterprising pr priotors, Messrs. Badenhop Sc Gorma liave unremittingly labored for tho pa three weeks, and we have no doubt that tl traveling public will show its appr?ciatif af their public spirited work by sn univers ?lamor, next week, for admittance to tl new and elegant establishment over whit those gentlemen preside. -o OUR JOB OFFICE.-The Phoenix Job Olli ?3 now propared to executo every manner printing, from visitiug and business car to pamphlets and books. With ample ra terial and first-class workmen, satisfaction guaranteed to all at New York prices, our work docs not como up to contract, 1 make no charge. With this understands Dur business men can have no excuse to se their job work North, when it can bo do it home. -o MAIL ARRANGEMENTS.-Tho following t tho hours for opening and closing mails: During tho week from.. S}? A. M. to 6 P. ! On Sundays from.6 to 7 P. '. CHARLESTON AND WESTERN MAILS. Opens at... .5 P. M. Closes nt.. 8>$ P. CHARLESTON NIQHT MAIL. Opens at.A. M. Closes nt. A)i P. ORBBNVILLE MAIL. Opens at.. 5 P. M. Closes at. P. NORTHERN MAIL. Opens at.. 2 P. M. Closes at. 12 V. P. THB BANK OT TUTS STATH.-We learn that Governor Scott has appointed William Hastie, President, and William Gurney, Reuben Tomlinaon ?.nd S. L. Be ?nett, Di? rectors of the Bank of the State of Sooth Carolina. Hastie aud Gurney aro well known. Tomlinson is a Philadelphia man, who came to South Carolina to eiucate the freedmen. Ho is now a member of the Legislature, and, we believe, State Auditor. Bennett is a Charleston colored miu, nearly white,.aud is ono of tho most respectable of his class. --?- i A lot of cards and bill head paper has just been received at the Phoenix office somet?:ing new and pretty. Also1 a lot of -'auction cards"-which will be piinted at extraordinarily low pri "s. At a meeting vi tho Directors of the Charlotte and South Carolina Railroad Company, held on Wednesday evening, William Johnston was unanimously elected President. Tho Northern mail failed, yesterday, be? yond all points North of Charlotte. NEW ADVERTISEMENTS.-Special attention is called to the following advertisements, published for tho first time this morning: Stall No. 5-Extra Fine Veal and Beef. . Fisher & Heinitsh-Drugs, Chemicals, &c. ' I. Sulzbacher-Light for AU. James Nonna-Cows For Sale. Acts Passed by tho Legislature. Jacob Levin-Auction Sale of Hay. "MENS SANA IN SANO COUTORE."-To havo a sound mind in a sound body is ac? knowledged to be tho great end and aim of life, in a secular point of view. The sound mind is doubtless most desirable; but of what avail is it without thc sound body. Observo that youth or that maiden fair, of high spirits and brilliant talents. We ad mire the palo intellectual cast of features; but disease has fastened upou the fair frame, tho bloodless face grows thin, and decay of mental and physical vigor soon follows, to bo succeeded by death. Man was made to labor, but there can be no long sustained work without health. To make tho emotions fresh and true, to mako the mind active and vigorous, to make the body strong and handsome, we must have life's greatest blessing, health. To oat well, to sleep well, to look well, to act well, health is the one thing needful. It is tho pearl of great price, more to be prized than tho wealth of "Ormns, or of Ind." Heinitsh's Queen's Delight is tho best blood purifier, health restorer, yet discovered, and ho would do well to act well and try it. A23 Miss Judith Russel, of Now Bedford, writes: I have been afflicted with severe prostrating cramps in my limbs, cold feet and hands, and V. general disordered system. Whilo visiting some friends in New York, who were using PLANTATION BITTERS, they prevailed upon me to try them. I com? menced with a small wine glass full after sach meal. Feeling better by degrees, in a few days I was astonished to find the cold? ness and cramps had entiroly left me, and I could sleep tho night through, which I had not done for years. I feel like another being. My appetite and strength have also greatly improved by the use of tho PIIANTA noN BITTERS. MAGNOLIA WATER.-Superior to tho best imported German Cologne, and sold at half the price. A17 Jlf3 .-o PHYSICIANS USU THEM IN THEIR PRACTICE. ft is almost universally the case that Physi? cians condemn what are generally known as "Patent Medicines." Although DR. TUTT'S LIVER PIM. IS NOT A PATENT MEDICINE, yet its composition (tho result of years of study) is known only to himself, and so palpable are their valuable curativo properties, that very many of the first Physicians in tho South and West have adopted them in their practice, and recommend them to their pa? tients. A17 6 Extra Fine Veal. SrffBHgtt THIS MORNING, ul ?stall No. 5, in ^.ffsffiff tho market, and an extra lino Stall YT^JI fed BEEF, to-morrow morning, at April 23 !. STALL N0. 5. For Sale. USjov SEVERAL FINE COWS Aro CALVES. ^Nfiffiff They may bo ?eon at Mr. John Erwin'.", JT "Tr oorner Assembly and Medium streets. April"? 1* _JAMBS HQKAN. HsIOHT FOR r\ T IIJ. SOMETHING NEW AT I SULZBACHERS. GOOD NEWS Til E OLD FOLKS. IN ADDITION to tho Fino Assortment )f jEWBliRT, CLOCKS, f-c, which was advertised a few days siuco. J HAVE JUST OFENED tho largest and beat ot of SPECTACLES, of overy kind, including the I'oriscopic, Peribolar, and other LENSES, ever presented to .ho public of Columbia. Also, a few of the Meriden Company's KNIVES, mnerior to tho VYostonholm. April 8ULZBACIIF.il. Self-Raising Flour. pr f\ BARRELS Hocker's Solf-Raieing FLOUR, fj) just roccived and for salo 1 jw, liv tho bar? rel and at rotail, by J. & T. R. AONEW.