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* ? F. % VOLUME V BKe 8?4.&t>,m4!.&> EDITOR A NO PROPRIETOR. TERMS: 'r**a Viin Uimb months. . . $3 qq | I |I41V4 m?Mi? wmm ?- r Wr~ it paid within three months after the eloae ofthe year, 3 50 If paid within twelve months after lite lose of the year, 4 00 If not paid within that time, ... 500 Two new subscribers will be entitled to the paper the first year for five dollar*, paid at the time of subscribing, and five new subscribers for ten dollar* paid st the time of.subscribing. No paper to be discontinued but at the option f the editor till arrearages are paid. ^lvertiseinents not exceeding sixteen lines, inserted for one dollar the first time, and fifty cents, each subsequent ins irtion. Persons sending in advertisements are rcques. tou .o specify the number of times they aro to be inserted; otherwise they will be continued till ordered out, and charged accordingly. Z^ The Postage must be paid on all commanications. . - ~ GRASSES. It is & subject of constant remark that m our agricultural country little attention is given to such objects as are considered of primary importance in other agricultural communities. Hay from England, Ireland and France, is sold in Charleston, shipped into the interior of our 8tat6, and at this very time is selling at a price for which our farmers will hardly bring it to market. Surely there must be a profit derived from its supply, fgl or -it would not be brought to our seaports: and is this state or things always to continue? Are we lo raise cotton at 8 cents to buy hay at 81,50 per cwt. to feed our stock with? What a commentary ou the condition of our agriculture? The obstinate adherence to old fashioned modes of practice, to following in the footstep of predecessors, keeps down knowledge, and retards all useful and productive innovations. " We are called Agriculturists. Do we deserve such a name 7 Not justly in the present state of our affairs. We are planters?literally and strictly planters?we put seeds into the ground and expect them to germinate We watch their progress with anxiety, and we look for the same fault every year?we expect to raise a little mora cotton than we. did bat year, and we hope to make cortvenoogh to spare a little, and here we atop. We iroat to the chance of our stock getting fat on grass, and to got through tho winter on what shucks we may have-because it, would be ruinous to feed s ock with fodder, &c., planters must attend to the crop, and the ? an in p*rlu(tA all Attention VfVJf ,w |P *W?. WW ?v ? - ? to secondary objects. In summer wiien grass is plenty we have lambs, in the full be fore the stock begin to fall off, which is usuuaHy expected, we eat mutton, but when the cold winter s?ts in we then begin to look with anxiety to a supply of Kentucky or Trnnesee or North Carolina sheep to give us something to oat until next' grass. Our timeis too much occupied in workmg cotton toppare time ;o plant rye, and no at tention being given to dry provender, our domestiecomlorrs are diminished, as well as our stock d? indie a s ay to skeletons, and we trust to chance that they may live through the wintry blasts in an old field. How many planters sow rye for their cattie and sheep ? How many make provision for them in winter? Pew, too few. Aft* there no grasses-suited to our climate ? There are more varieties than in Northern ogions. Are rhey more dfficult of cultivaion, and of slower growth ? They flourish jwith a luxuriance far above the produce of higher latitudes. Are they with more diffi. etiky converted into a state fitting them lor preserratron in a dry form ? Experience says that our hot sun will cure them faster than at the North. Are our lands injured by the cultivation of luccerne or clover or peas ? They ore materially benefitted. Why then is so much indifference to the cultivation of grasses apparent among our farmers and planters? The fact is, we ore unwilling to act indupendenily?we place our unlimited confid?n nn!Inn I onttnn I nnlt/in f tn krihn no (M V VI (VII . VV^lVt* VUilVIl %W VI uo out of aH our difficulties?we consider it the sine quenon of our existence as u people; we look to it as a fix< d and settled policy to it raise cotton at all hazards?and we plant more if prices are low. Every man leaves his neighbors to plant less cotton and pay more attention to minor chances, and the consequence is the same old routine?and the same contracted policy of importing at a cheap rate ail the necessaries that properly ought to be our first consideration. It is certainly reasonable io supply our immediate wants at as ch**ap a rate as possible ; but can we not with a slight variation in the ap? plication of our labour effect this among ourselves??certainly we can. But ths practice of other countries must be followed here to enable us to do as they do. We must cnjjivalc land, not exhaust it. We must adopt more generally the system of rotation, and manuring, and planting less to the hand and working better. Lands can be as well set m particular kinds of grass here as elsewhere, but the same care must be given to them to prepare and lender them V fit for these crops. To expect a particular gross to take root and grow without some attention, is just as absurd hs to expect cot. ton to come to maturity merely leaving it when planted to overcome other plants by its inherent capacity to grow. Men sow grass seed, and expect it to turn out well of its own accord, and hence the many failures *?treat it as they do in Kentucky and in the older countries, and the same good result will ensue. In our present s:ate of planting (we will not suy agriculture) we look upon gross as our enemy in the field, and our i. * s T?. .1 .v /> f /. CHERi xertion* are !o koep it down. If we would n I i'Q n lit: lu nl'onlinn ?n milliner n Small DOf? g'l ? - r- & r lion of our land in order for the cultivation j of grasses, we would soon be ^satisfied of their value. The crowfoot in Columbia j has been known to yield 6 tonsjto the acre-, and the. only preparation here required was to manure the lund well, break r up early ?and again in the fatter part of June?roll it, and leave it to produce. The hay procured from crowfoot is equal to any other, and very littJe ^preparation required. Lucerne grows with luxuriance and herds grass is well adopted to our climate, and the Pe. renial rye grass is to be found throughout our low grounds. A few gentlemen have lately given some notice to the grasses, and we hope to have shortly some account of their success. Carolina Planter. * Frotn the Carolina Planter. ; the chinch bug. Mr. Editor : Having suffered seriously by the ravages of the Chinch Bug for the last three years, I have observed its habits, its mode of attack upon corn and small grain, and will endeavor to give you the result of my oxpe. ( rience. for -the benefit of those planters whose f.rrms are but receutly visaed by this most destructive insect. Generally, the Bug does little injury in 'he jearly part of the spring, being engaged in the business of piopagaiion. They deposit thf'r eggs in large numbers, most frequently under the bottom blade of the corn, and sometimes under the second and third blade. "The joung insect is very small, and is known by its red colour. In a short time after the egg is deposited, the oung may bc-seen by pulling the blade dowimrd, lodged in a compact circle around the stalk?they are very dehcate at this stage of their existence, and I was satisfied bv an experiment made last summer, that millions of them were killed by stripping the blade off, and exposing them to Die sun ?a process which is attended by no ptrccpt ble injury to the growth of th?? corn, inasmuch as the botton blades, being generally more or less injured by the plough, and from their proximity to the roots, aro ol comparatively little use in receiving nourishment from the atmosphere. The most certain mode of destroying the young insects is by the hand?a single gripe, accompanied by a horizontal motion of the hand being sufficient to destroy tho whole deposited. This labor may be performed in the same time that would be employed in thindjpg tho corn; and when the importance of the result it compared with the means used in attaining it. I.think no one can doubt, even ad. roitting the time necessary to perform the labor twice as long as that supposed, that " the end will justify the moans." The young insects (Jo the principal mischief, by beginning to suck the juices of the corn where they are deposited?and as their powers of locomotion and their appetites increase, hy attacking and finally killing the whole stulk. Every other mode of destroying this voracious insect that I have known to be re. sorted to has proved abortive, or,4the remedy has been worse than the disease." And after all, the only permanent consolation which I can off r to the suffering planters gf your section, is to be found in ihe miggratory habits of the Chinch Bug. In the particular neighbourhood where I plant, ihey have committed most d stressing ravag. es for the last three years; and this, the fourh year, since their first appearance, they are doing comparatively no injury, whilst the adjoining districts, North and West of us which have been heretofore exempt, are now suffWingly greatly. I have known no remedy to be tried, and have heard none suggested, to prevent the ravages of the Chinch Bug upon small grain. J T Edgefield C. H.,June 10, 1840. IMPORTATION OF IMPROVED CATTLE. We neglected to notice the arrival in the United States, early this spring, of some stock sentover by Mr. Murdoch, of I relani. This stock was offered at auction on the 5th of May, in the city of Baltimore. But the excitement and bustle of the political meetings then convened, caused but a small attendance at the sale. An Ulster sow wns sold at Si30. and one cow. which had been much injured in the voyage, brought S:H)H The other two cows were withdrawn to wait further instructions from the owner, who had sent them over to be sold on his own account. We are informed of yet another importation, by the following paragraph, which we cut from a New York paper, of 29ih uit. VALUABLE IMPORTATION OF CATTLE AND SHEEP. We yeslerdny inspected the valuable collection of Cattle and Sheep brought out in the packet ship Philadelphia, Cap*. Moigan, from Loudon. They cons*. of the fohowing: A cow, called Gray, 5 years old, cost 20 guineas. A calf, Sir George, 6 weeks old, 40 do. A cow, Lumpy. 8 years old, 100 do. Do. Maria, 3-years old, 105 do. A calf, Matilda. 9 weeks old, 20 do. Do. M .jor, 11 weeks old, 50 do. A heifer, Spot, 2 years old, 100 do. Do. Astor Beauty, 2 years old, 80 do. Do. Nancy, 2 years old, 60 do. Do. Victor, I ) car old, 80 do. V. ' f JSpt . e r ' -T' "* *>'. " v r je r a w . i jP ... * tW. SOUTH-CAROLINA, Do. Flora, 1 year old, 70 do. Do. Cherry, 1 year old, 60 do. Three rams, 75 guineas; ltf ewes 75 do,; 1 do 10 do.; 1 do. 20 do.; insurance, freight and passages, 463 do.?Total, 1 ^1 ft mnnone i\- 87 *7fll RR 'jvtv gUlUUUO) VI V V ) I v/x vw? We have never s?enso fine a sclecdon of stock landed on our shores. The cows are prodigious in size, and their forms de- . note great strength and power. They are j aii froni Hertfordshire, und are the very best breed that England can produce. The sheep are of extraordinary size, being the Co s'-vold cross w:th the Bukewell Lincolnshire, the very best animals of the kind ( we have ever seen. They are imported bv Mr. Wm. Henry Southard, of J> (Person county, in this State, who went expressly to England to select them, being for himself and Mr. Corning, ofgAibany. Th? intro- * duction of valuable stock like this ia^f im- , mense importance to our agricultural and farming interest, for. which Mr. S. deserves , the thanks of the public. They have been brought out in fine condition by Cap?. ( Morgan, and without any accident. Express. From the Amerircan Farmer. PHILADELPHIA SOCETY FOR 1 PROMOTING AGRICULTURE. Stated monthly meeting, May 6. N. Bid- j die President, in the Chair.? A pap<T was read by Charles Roberis, on theauulysis of sevt'ralfspccirnens of limestone from Chester nnd Montgomery counties. Tiie socie. ly at an eurly date bore a decided and public testimony to the fertilizing qualities of lime and gypsum, and the members of that day evinced then confidence in both by a free use of them. This confidence wns not - - - ?L. !. I I misplaced, us uy uu ir emp.uyiueni, several count!' s have been recovered from sterility to the highest state of productiveness? Among the farms ?hus restored, may. be mentioned that of Wiiliam West, of Deluwate county, to whom may in a great measure be ascr.bed the happy change wbieh commenced in the general management of upland farms and more generallyfollowed east of the mountains. It is well know that a d.(Terence of opinion is entertained by farmers respecting the comparative merits of different vnrieties of lime s'one, some ascribing them to the com. position of the mineral, and others to the nature of the sod on which when calcined it was applied. A farmer of Bristol, Bucks' county, not long since told the writer that he had tried it on a lot neur that town without , the least perceptible benefit. The porticulars were not inquired imo^. but several are connected with its successful rise, and to ttterrlnsttpmicHrmBy be as(Ttb?f tftelafr* ure of benefit from it in the case mention- j ed. That the result or its use on land there can be no question, and under that ( impression the society in:end to havo ana- , l> sis made of specimens from quarries in great or low repute, lor the purpose of ascertaining thooonnectron between the ac. : tual or deficient fertilizing properties of the lime from th i,m, and the composition of the raw material. An important service will thereby be rendered to agriculture. The analysis quoted in the paper read before the society were kindly made by Mr. Frnzer, of Philadelphia, and the paper will appear in the Farmer's Cabinet. One great point to ascertain is whether the presence of magnesia in lime, is or is not injurious to vegetation. The experience of Pennsylvania and Europe is d tferei.t on this subject. Mr. Vilmorin, one of the most extensive ] Parisian dealers in seeds, and an eminent horticulturist, sent to the Society eight pareels of different varieties of wheat for trial. Thoy ore the produce of various climat'-s;* one was from 0 less a, and were deposited with the editor of the Cabinet for distribution among farmers, under the condition . that they will give an account of the result , of experiments made with them. I Mr. Rowan stated that the Legislature , had passed an act to revive that of March, , 1821, which granted to the Society 850 j annually for every member from the city | and county of. Philadelphia, in the House of , Represeutatives, for distribution in prerr.i. ? urns. I A fact on the subject of wheat was men- | tioned, which gave rise to somo ducution, j and will be resumed. It was stated that a , fo ld of wheat, sown as usual with grass , seeds, was much injured last year, by rust j while an adjoining one, in which no grass ] had been sown was free from it. I The President brought n bottle of wine ( made from grapes grown on his farm last } year. The Society resolved to hold nn exhibi- , tion and fair next autumn, and a cominiitee , of arrangement was appointed. It also ( passed a resohion recommending .ho Farm- | er's Cabinet, published by Kimber und | Sharploss, No. 50 N. 4th street, to the pat- ( _/?.L 1 I- ?. _:il ?ll ronuwu oi me puuuc. 11 win uuiuum uu | papers read before the Society. j CONTENTS OF THE SOUTHERN CABINET FOR ^ JUNE. Notes on European Agricuhure, by a Charlestoriian, No. 6. Agricultural Survey of the neighborhoods of Society Mill and Chora w. By the Editor. Emigrating. By a South Carolina Ala~ bamian. Answer to Queries on (he improvement of Pine Plains. By an Up-Countrymun. Agricultural surveys. By tie Editor. RemarksjtfJdr. Ruflfni on Dr. John! son's ArtlclcT>h Calcareous Manures?with m f** * ft} AS A -/?* v' ? Z> P?lt T - - ', WEDNESDAY, JULY 8, the reply ofDr. Jonnson. . Trees of the Rocky mountains. poultry Management. *1 Fast Working Oxer. Abstracts. .. Agricultural Societies. v * ^ Green Crop oflndinn Corn. Descriptive Catalogue of Turnips. Leading Rules for Laying and Planting Flower Bods in ibe Front Garrfons of Street Houses. - Tales, Sketches, 6rc. > A Morning's Ramble of the Imagination. Notes of an Excursion from Philadelphia ] to Jacksonville, III. (continued.) Hunting in Kentucky,'(continued.) The Panther's Leap. Poetry. Francis Olderby. The Coffin. # Th? Battle of Trenton. Rocy Mountains Sketches?the Snow Cliff. Jewish Marriage in Whitchchurch (Eng.) Agricultural Items. Rye in Woodland; Orange Globo Mangel Wurlzel; To prevent Milk from turning Sour; Caking of the Bug or Udder in Cows; To preserve F'ince Posts, &c; Silk Rolling; S? eds; Chinch Bug; To prevent Hens from Scratching; Tulips. Miscellaneous Items. Tunnel through the Alps; A Floating Market; The Water of the Dead Sea; The * orld's Bod; Spanish Philosophy; New York Police; Love's Telegraph; Anecdote; Woman; Society in Portugal; Vastness of London; Singular Circumstance. CONTENTS OF THE FARMERS* REGISTER) NO. VI. VOL. Vllh Original Communications. Oti the different proposed schemes of rotations. On the objections to marling in the south. Manuring. Remarks on corn culture, beans, &c. The earliest notices of silk culture of this season. The second Physirk humbug., Monthly commercial report. Selections Lucerne, or French clover. Agriculture of France. Essay on the nature and importance of agricultural education. Hot air furnace. Tbe grape vine. PoMfrnj- , _ Remarks on the propriety of using marl in South Carolina. . Exract from the report on the culture of the mulberry, arid the mode of rearing silkworms in rhe environs of Puri9 in 1836. Model filature at Philadelphia. Different soils in Kentucky, and the conjectured formation of the rich lands around Lexington* On shoeing horses. Harvesting of corn. Directions for clearing hnd. Ti:e bee-moth. On the cultivation of fruit trees. Notes on European agriculture. Essex agriculture. Wire-worm. Gatherings from graveyards. Edgings for a flower garden. Powers of the Arab horse. Noteson northern silk-culture. Lime and lime burning. Manure from leavrs. Cowpens. Green manures. Buckwheat. On the culture of lucerne." IMPORTANT TO FARMERS. A friend of ours, Capain Cheney whose plantation is below Old Chester, informed js the other day, when we were at his place, hat several of his neighbours had made what he regards a vory valuable discovery, and certainly, if it shall prove true a very mportnnt one. It is no less than a preven:ive for the fly in grain. ' The farmers to whom wehrive alluded, had purchased considerable street manure, Irom Philadelphia. This had been put on their wheat field* in strips; 1st, a str'p of street manure from the farm-manure, from the stable, und then another strip of street manure? <o alternating through the fields. Jn every instance the wheat is taken by the fly direct|y through each layer where the common farm manure was spread?and in every ather case, where the street-manure was spre.id, there is not a fly in a single stock.'?* rh? farmers alluded to, are of opinion that he preven ive proj>eriies are in the anthracite ( ishes, winch had been tliown in the streets if Philadelphia, and were thus mingled with [ho manure. Certain' it is the effect has been, in some way, to escape the use of the street manure, and it will be worthy of the considers ion of farmers to investigate for themselves on the hint we now give.? We shall be glad to hear from any of them upon a subject of such importune to the farmers, the great pilars of our nation. [Saturday Courier. ADDRESS OF THE "NATIONAL DEMOCRATIC CONV ENTION." [Concluded.] It was to havo been expected that, in nominating a candidate for the Presidency, the Whig party would select an individual w^iose political principles so far as they have been disclosed in his publie acts and declarations, arc in accordance with their own. EET1 V" IZER. 1840. i" ? This expectation has been fulfilled, in th nomination of General William Henr Harrison by the Harrisburg Convention He may be justly regarded as a true expo nent of the political doctrines cfr the pertj which have put him forward as tbei leader and reprsentative. Before thi contest between Thomas Jefferson am the eider Adams in 1798 he ha< been alredy in public life; and upon th< separation of parties on the leading politi j;ul questions of that day, he bScame a a ip porter of the latter. Prom that lime loth present, nothing has appeared in his pubh acts evincing any change of opinion on hi part in respect editor the questions referro to, or to others which have grown out of sub sequent division upon measures involvinj great principles of government policy.Indeed, those who now take upon Tbemselve to speak for'liim authoritatively, and to b< the expounders of bis prinriples, have pub linlu <I<uiIdkuI -thai rin hII the nxriiincr niii-n |VV>I J UVV4UI vv? ?M?M WM w Q tions which formerly, agitated, and sul agitate the public mind, his opinions remuii unchanged." - - We may, therefore, justly "appeal to hi; former course and opinions as the criterioi by which'he is now to bo judged* Hi stands confessed as a supporter of tbe-mos obnoxious Federal measures?the aitei and sedition laws and the standing army o the e! ler Adams; the high toned doctrine of the younger, and the administra ions.'c both. From both he received confidence and favor, and from both public office.? If other proof of his Federalism Be neces sary, it wilt be found in the position h how occupies as. the sole candidate of th modern YVhig party for the- hightest* offici in the gift of the people. Relying, as we do, for the successorou cause, upon ihe great principles ofconstitti tionul right and popular liberty,, we do He feel called on to make a direct issue- w* the supporters of Gen. Harrison, on th questions of his claims to the title of u Here Wecannot, however, but remember the ex pressed apprehensions of the party that sup port him. uttered by their great l? ad?T a fei yeurs since that the elevatiotiof a Military Chieftain to the Presidency would be < more fatal tendency than 44 war, pejtilenec and famine." It is true, we might quesiio his claim to a place in history as a grez military leader: and on this issue we cnigt c?H tor the universal judgment ot hift cour try. Acts should speak lor themselves, an most especially military* exploits; and th General who requires from his subulteyn their written tesiimt niais to prove the wis dom of his conduct, the fact of his presenc in danger, or (he value or his services t his country, Can scarcely aspire to tli dignity of a hero. Are weiriistrfken in tti fact that doubts surround jthe mil tary reputation of Gen. Harriaon 1 i'i they not exist even in his camp and amor his most bruve and efficient officers ? Di they not reach the Congress of the Unite S at'is, and, at a time when the tmns tctiof weru recent, and the means of mfurmatig full, induce the Senate to refuse to him tho? honors which were unanimously awnrdc to others with whom his name was ossocia cd 1 Did he not leave the mihtary servic of his country at the most gloomy period < a desperate war, thus making his own ae ands the time chosen for it, a confirmation < doubts land question? To Generi Harrison we would render strict and impai tiul jus ice, and we propound these inqu ric because the history of the tim< s not onl suggests them, but, furnishes a positive an affirmative answer to each. Will hi friends reply that we are proving their can didate not to be a military chieftain? B it so. Their inconsistency in claiming fo him that characters! a merit and a qualifi cai on for the Presidency, is not the loss ap parent, if they shall be louod to admit tin; the claim has no foundation in fact and hit lory. Beyond this single claim to the support c a free people, as distinctive of the Peder candidate for the Presidency, we are unabl to speak from nny ground as yet assume bv^himsdf or his friends.; In reference I l? s principles, opinions, and acts, be)on his military chieftainship, there is an orgaf iz"d silence, as studied as it is singular. Th country has been told, as it would seem b authority, that he is to write no more 44 fc the public eye," until ufier the Presidents electiou. and his supporters very careful! follow this example of their selected leadet His public history is certainly not a histor of civil triumphs, nor has a life spent i public employments, mostly civil, prescnte him as the author of measures, or even r a leading supporter of the measures of o;l ers, essentially consecrated with the princ pies of our Government, or with the in ei ests of our people. We are compelle< therefore, to dismiss General Harrson; am beyond what we have alrendv said, to folio' the example he has set and his friendsaam tioned, to say nothing, because, as we ai forced to presume, nothing is to be ?au We leave him, therefore, wilh his Federa ism established beyond question, and wil his questionable claim tu a military ret>uu lion. Once more, we repeat, we are not alarn ists ; but our duty-to the Democracy we ai here to represent, would be ill discharge did we not cul1 their serious u'tenUon toll desperate efforts which their opponents ai every whoie making to carry the approacl ing election, and to gain possession of tt General Government. If they were to su< ceed in tho accomplishment of tlieir- objec and thus be enabled to carry into execulir their schemes of policy?rlhose especial % t % PB % ' ' ' ' : r-1 * . f '. Vri -?- ~ "" -<??? / ^ ii-1" " ??? NUMBER 34 e which relate to the management of the puby lie finance by the agency of a great moneyed . institution?there if danger that our Repub* - lican institutions, though they might preserve f their form, would not long retail* that? purity, r their s?mpbc?ty, or their strength. But our s .confidence in the discrimination and patriot i tUm of the people is unshaken, and we Qflflfe i fidontly trust and believe that they will itdj, b only see the coming danger, but that tbefT- j will gieet it with ail the necesnkry measures , e The history of oil Republics if r d Government like ours, fortned^by a tifthttl - of independent Sia et. ^ y/ b foreign influence, exerted tbroughthepowef e of money. The approaches of this influ. ence have been gradual and impcfLlpMblc, . until within the l.ist few years; tvUbfe which i the progress has b^en rapid, and the dilfosiSf ^ ; r iihmos! universal. The ordinary operation* of trade bet when commercial countries are i reciprocal and salutary. Enabling each to i exchange the commoditH* of which it has i t try, the cooveoienCe, and the comforts of all a- are promoted, the wealth ofaft, both mdivL f dual and nations), increased, healthfiifofod s useful intercourse secured, end hfomouy f of feeling producod, without and necessary q sense of dependence. IU however there ciprocal relations of trade be Changed for - the retations of borrower and leader* if one, ?* ?|-couhiryor its citisei*, become borrowers % ... e from another country, or its citizens, fk# ; purposes, not" commercinl, the consequences [are whoHy diflbrsm, and the m ,r truth, that14the borrower is servant to- the l lender" efm/wiay.-wdl be fo&nd to fore in it application strongly, and much more dan I, geroasly, than when that dependent relation e exurs between citizen and citizen of the sa ne coun'r;-? t Wo are not to be understood ascondettf* k ing, in all cases, ioans between country nod v country, or. between the citizens of rfi&fiNft i* countries. Tno demands arising from * >1 state of wnr, and ]>erh?Pf of other great os. * i, igenccs, frequently render such loans, by t n nation, indispensable, while the transactions it of commerce are constantly creating credits it between commercial men of ett countries, u In the first class of cases, the wer mast be d prosecuted, or the other greet national esi* e gency met and the relation of debtor enis dured, until returwng peaefc, or renewed j. prosperity, shall huve wipedoft the debt.? e In the second the operations of commerce o 'ire anticipated, and ordinarily depended ie upon with safety to bataaog the accounts, 10 and terminate theimpfi ?iit rclatiem >Tt> 1. no transactions t>f these dbsset are any of d our subsequent remarks intended to be up. ig plied. id A very different description of foreign id loans and foreign debts hare been oomtion is in our country, and to these it it our wish fa m draw the pfcblic attenfon, We refer to loans ie made by banking insiitutians'eithcr to rc d lit-'ve themselves 1/om embarrassment t. caused by improvident expansions in hankie ing, or io enablo them to extend their ope* ,f ration? beyond the Rum intended by those tt, who gra nted their characters by tympanies yf and associations, to enable them to monopo. ij lixe ?n entire branch of inteifwltrade,'ft|qp p. embark in some enterprise of questionable * productiveness, and hy the Slates of ti? y Union, without the provision, by taxation d or otherwise, cfa safe and certain fund to ? iTH'dt interest upon their loans* Wo-thiok wo . are not m rata km in the assumption thai all 0 the early State loans were sought inoor own *> market and from?6ur own countrymen. 4 1 We hi lieve, also, that one of the first acts i. of the borrowing State w is to establish and it set apart a fund to meet ihe payments of i. interest upon the money borrowed. TM. safe policy prevailed for a series of yearly )l and until deleterious examples, proceeding il not from ihe States of the Union, but foot e inc orporations, the creations-of the -State d and Fudiral Governments, produced the o change, the consequences of which wo d consider do frarful and alarming. i. The Bank of the United States was the e first to inuka the standard of its crcdlrin y London the measure of its business in the ir United States. Other leading Slate institu. 1) lions followed this practice of evil Undnef. v | and none or the incorporations wlHCTronee . adopted this standard, failed to make their y interests conform to it. Thus a change iu 11 the value of money in foreign countries d would become the measure of bank ex. ? is pensions and contraction's in the United i- States, nnd of many of the iargcr States j. banking institutions, were concerned, r- A long period of genertri pence, and lof Jf great prosperity in ail the brat cheeof trade \ j, and industry, rendered expansions, gradusr uated by tliis standard, much more pWfalent than contractions; end thus from tho e known excessive profits of banking in thia i. coun ry engendered an appetite for multiplication of ba k charters, before un. iH known to us. H? nee the number of banks i. in the country was at l? ast doubled in the course of some three or four years, and the i. hanking capital was enla.ged in still greater re proportion. d, This muliiplieaiion of banks and banking ic capital in so sh irt 8 period, could not Tad to re produce a proportionate expansion of ottr l). paper circulation. Such was the effect, ,e i with the fur;her cosequencet of increased 1 prices of property, and an almost universal I, speculation. The multiplied banks found >n customers, because almost the entire com* |y muijHy were st mutated to become borrowI . .