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This testimony of the Governor to the worth ant) honesty of the Managers of the Bank, is only accumulative proof to the facts so amply testified to by ail who have either investigated - its afiairs, or had any knowledge of its transactions?and ought to silence forever the assertions and clamors of tho enemies of this institution. . The gentleman from Abbeville had asserted - that the Bank was insolvent, that her circulation was 8919,615 75, and that she had to payIt only $94,624 40 in specie?in bills of other Banks $17,199 00. In Foreign Exchange 29,668 96, and Domestic Exchange, 40,753 18. : Now what are the facts? From Exhibit A. bringing up the Rflairs of the Bank to 1st Oct. J in tH?? Annual Repoit of the C.IWTJ WUMIUru ? .?? President and Directors of the Batik now on I your tables, which Report is verified by Comp (roller General's Report, it appears that the yvbole amount of Bank Bills issued, is $1,690,/ 830 00. Ofthls amount issued $919,615 75, remains in the vaults of the mother Bank at Charleston, $56,208 25 remain in Branches, and $300,000 are destroyed and lost forever?(this last amount being a clear gain to the people of this State.) These three amounts making an aggregate of *1,275,834 00, must he deducted from the a.mount issued?and it will ieeve. in actual circulaliononty 9416,006. Of this amount the' 6hfc half is in one, two and three dollar Bills, | and could be redeemed by the Bank of the Stat?. ten times orer, before they?tjtjjjl be hunted up antf presented at her counters.r*$-But the gentleman does not in his calculation regard as *' iU nnmomiu other resources WUriU me liumv.....? of ibe Bank amounting to upwards of 83,000,000?which might l?e brought in to pay ofi its | liabilities, which he would then proceed to ex- J bilut to the Senate as abundant proof not only | of the solvency of the Bank, but its very healthful and prosperous condition. had said that he would proceed to show that the Bank was solvent and able to meet all Its liabilities ot every description, leaving a large surplus of clear gain after paying all the capital the State had invested in it, and dis. charging all the other numerous liabilities imposed upon it by the State. Over and above the amounts ofcash, Foreign Exchange, Domestic Exchange and Bills of other Banks?'here was due to the Bank by biifs and notes discounted, 82,669.228 18. By Bills and Notes in suit, . . 8244.079 76 Bonds secured by Mortgage, - - 538, 130 32 Bonds under Act, rebuilding city of Charleston, - - - 782.936 87 Slocks belonging to Bank, - 434,653 81 Ba uk'Estate, 07, 147 85 Real Estate, 38,900 95 Judgments, - 8,025 00 .Drafts in transitu, 8,002 81 These sums added to the amount which the gentleman from Abbeville, (Mr. Marshall) had admitted to be equal to cash, would make the whole amount of the assets of the Bank, $4,992,410 99. Did the gentleman wish to make that House believe, that all these assets were worthless?that the notes and bills due to the Bank were of no value? Would he persuade the Senate that the drawers and endorsers of these notes are insolvent? Did he not know that these debts were due by South Carolina gentlemen, and that they were well secured. Had they not the testimony of all their examining committees?that these debts were in general well secured. He could inform the gentlemen that when he had the honor to be on the examining committee, that he had looked at all the notes in Columbia at least, and had tt.Am mfa si inv naiwr of the kind UUIIU iiirm no Quit- MU ?-.-J j? . could be made in this or any other State, by by this, or any other similar Institution. The other assets enumerated, were all available, what these are the gentlemen would readily perceive, by turning to the table, A. contained to the President's Annual Report to the present Session. Would the gentleman, in defiance of all the Reports of all the Presidents and Directors of this Bank from its origin to ihe present day, in defiance ofall the reports of all the invesliga. ting Committees?still persist in decrying the credit of this Bank; and notwithstanding the immense sums paid for and to the State by this Bank, will he still persist in disbelieving its inability to discharge the obligations imposed upon it by the Slate. If he does, he must be gifled with no common share of incredulity, but cannot inoculate others with it, in the fiicc of proofs so strong. The annual taxation imposed upon the people of this Slate has only, and can only pay the expenses of its Government. Oo what then can we rely to pay off the public debt, and the interest accumulating thereon, a* it becomes due, but the Bank, which has heretefore so successfully paid the millions of debt . already liquidated? Is it not clear as the noonday sun, that if you destroy this Bank, yon tie. itroy that which enables the State to pay its debts?and throw this source of income into the hands of private companies, in place of re. taining it for (he benefit of the people, to whom It properly and legitimately belongs? They , would have to increase the tax?K to an ermr. rnous amount, to repudiate?shamefully repudi. ate?and would the people of lhis Slate submit to the degradation either of one or of the other? This Wrought him to the consideration of another point, which would prove to theSenate most conclusively not only the impolicy ofdestroying this institution, hut the dishonor that would attach to the State of South Carolina, were that object effected. To prove this, he submitted the following facts: The bonds of this Stale had been sold in F.urope by the agent ofthe State, Hon. Geo. McDuffie?these bonds under an act of the Legi?. lature (see act for re building city of Charleston June 1838.) were indorsed by the Hank of the State, the buye.rs attaching great importance to this endorsement of guaranty by the Bank.? The guaranty on all these bonds is in the followingwot ds: Mln pursuance and by authority of an act of the Legislature of the State ofSouth Carolina, ratified on the 1st day of June, 1838, the President and Directors of the Hank of the State of South Carolina, with a capital of $3,150,000 (including the present loan,) for value received, assigns and transfers the said bond to or bearer, and hereby guarantees the punctual payment of the principal and interest of said bond, as it becomes due, at the place specified within. [Signed.] C. J. Colrock, President of the Bank of the State of South Carolina." This guaranty was put upon every bond sold (or the express and declared purpose of enhancing their value, and the value was very mucti enhanced thereby. It was so done by authority of the act of the Legislature, above referred In. [Here Mr. Black read the act.] Could anything be rr.ore explicit, o?- can anj words be penned more strongly pledging th< Bank "with its annual accumulations for the payment of the interest on said loans, and tin final redemption thereof!" The 12th section declares that "when the prof its of said Bank of the Slate ofS. Carolina, shal have paid ihe interest ofcertain stock, for which they have heretofore been pledged and set apart, the said profits shall also be considered solemnly pledged and set apart for the payment of the interest on the 6aid loan and the final redemption thereof." Could this State violate this solemn pledge, without the blush of slit.me tinging the cheeks of every virtuous, high-minded, honorable citizen? Well might J. C. Hambro At Sons, of the great Banking House in London, declare in their letter to the President of the. Bank, under date Nov. 18, 1843, in reference to this very matter that-'your storks will sink in value, even though the security might be amole and sufficient, without the additional guaranty of the Bank and its profits. Capitalists would consider that the State had broken its solemn pledges, which would be the more to be regret, ed in a Stale that has supported frnin its earliest settlement by its old families, until this day, the highest name for honor and nobility of character."-See Bank Compilation, page 654. Baring. Brothers & Co. writing to the Presi dent on iht; samn subject, makes use or ian. guage quite as strong, to the same effect.? page 665. Our Minister to England Hon Edward Eykhett, declared that 4,the first effect of the I measure would be a serious rhoek to the value of the bonds"?and "that while it lasted, the State would suffer reproach, and individuals, in the alarm of the moment, would be apt to make sacrifices." But gentlemen said that no value was attached to this guaranty! Hear the answers of Hon. George M'Duffie to specific questions put to him by the President of the I Bunk. To the first question: 4,lst. Was any value attached by Messrs. Baring, Brothers & Co., to the pledge of the profit of the Bank and the security offered by these several clauses, for either the punctual payment of the interest, or 4for the final redemption ofthe nrincioal?" Hp answers: 4*I ran say Unit very prpat value was attached hy Messrs. Baring, Brothers & Co. to the pledge of the profits of the Bank', and also to the agenoy of such an institution in paying the interest, believing that it would insure more certainly and pionititude than any other description of agency. This was urged by me and admitted by then)." It appears, therefore, if any credit can be given to the declarations of the Hon. Gkorge M'Duffie, that very great weight was attachcd to this guaranty of the Bank at the lime of the sole both by himself and the purchasers. ' Would it not be dishonorable in the highest de| gree, to destroy or cripple this Institution, the j capital and income of which the State had so j solemnly pledged to its creditors?and that , without their knowledge or consent? What I right had the debtor to withdraw the securities from the creditor, upon the faith of which the credit was in part extended? If nothing had been pledged but the faith of the State (which cannot itself be sued) is it not likely, that, instead of receiving 95 per cent, we could only have realized 90 per cent, on the sale of our bonds? But as the guaranty of the Bank (a corporation which can be sued) gave confidence to the purchasers, ho repeated that it would he most dishonorable to take from the in this se curily. Mr. B'aclt concluded his powerful and eloquent effort (of which we have given but a meagre and imperfect abstract,) by imploring Senators to examine this matter before deciding ?to weigh the proofs, and decide solely on the evidence submitted to them. He appealed to j their reasons not to their passions?and had I made no assertions which he could not sustain by proofs clear as the light of day. He called upon them therefore, as Senators and Carolinians, not to heed any clamor that might be raised, but to sustain, protect and defend the plighted faith ofth<- .State to her own institution, and to those who on the fiiiih of her guarantees had been induced to giw u cretin. 10 save ?j unpeople an Institution which had already saved them millions of taxation, and which would con tinne to save them many more, or (what was still mt re. important) from the dishonor of Re PUDIATION. SOUTH CAROLINA LEGISLATURE. Resolutions offered by Mr. Porter, and refer red to the Committee ofthe whole Senate. Resolved, That in the opinion of this General Assembly, the. Rank of the Slate should persevere steadily in the policy of railing in its funds and purchasing up the public debt, for which the capita^ or profit of the Rank stand pledged. Resolved, That the President and Directors of I tic Bank are authorized and directed to take immediate steps for effecting, if practicable, arrangements with the holders ofthe Fire Loan Bonds, to anticipate the periods and lessen the instalments now prescribed for payment thereof. in the manner suggested in the reimrt of the VVavs and Means Committee ofthe House, on the 1st Dec. 1847. Resolved, That it would he a violation of good to.ilii in the State to abolish or wind up the Bank ofthe Stale, before the public debt, for which the capital or prolits of the said Bank have been pledged, has been fully redeemed, or the consent of the holders ofthe Bonds has been therein obtained. Resolved, That whenever the said debt shall h.nc been paid, or the said consent obtained, it will, in the opinion of this General Assembly, be in accordance, with the best interest ofthe S'ate. to wind tip the concerns ofthe Bank ofthe State, by such gradual processes as will do the least possible injury to the public or to inividuals. Resolutions offered by Mr. Moses, and refer, l red to the Committee ofthe whole Senate. Whereas, the Senate, at its Rcnsioti of 1946, I adopted the following resolutions: 1. Resolved, That it would be utterly unwise and inexpedient to abolish the Bank of the State. 2. Resolved, That when the Slate of Smith J Carolina pledger! the profits and capital of the Bank to her creditors, as a security Tor money borrowed, she did so iu honesty of purpose, and good faith. 3. Resolved, That the Bank of the. State cannot be abolished directly, nor its business stability and prosperity tinriermined by indirec lion, without a violation of good faith; nnd dis I honor to the State, unless the holder* of the stock of ttie Stale, for which it is pledged as f i security be first paid, or their consent ohlainei therefor. I And whereas nothing lias transpired sincr that period to change the views of this body ii relation to the matters contained in tho sail r resolutions? Resolved, That this Legislature do re affin * the same. Tho following is Mr. Ayer4s resolution: Resolved, That iu the next Annual Uopor 1 of the President and Directors of tho Bank u the Stale of South-Carolina to the Legislature, and in every such Annua! Report thereafter, op shall fie included ati exhibition of the liabilities to of each Member of the Legislature, and each officer and Director of said Bank and its to Branches, whether as Principal or Security on o'i Notes, Bonds, Mortgages, Judgements, or any other form of obligation to the said Batik and ta Branches; the said exhibit to show the full amount of said liabilities existing on the first in day of each month, commencing with the first day of Fuhruary next, and to embrace the liabilities of the Members ofihe Legislature, and of the Officers and Directors of the Bank, not m only of the Bank or Branch to which said offi- cr cers and Directors may be respectively attached, w but also to the Mother Bank and both Branches. Ir I 1? LEGISLATIVE PROCEEDINGS. rn In tiik Senate. B Tuesday, Dec. 12, 1518. in On the 8th inst. Mr. R. F. W. Allston, fiom tli the committee on education, reported a bill to m provide competent teachers of free schools, by \v the appointment of a general hoard of comrnis. c< r??.? ctinnlc in consist of five persons, ki wi'Mins ui nrv . to he appointed by the Governor, whose duty fi; it should he to select suitable young persons A throughout the Stale to he educated at the pub. lie expense?the sum of 83,1)00 being annually r? appropriated for this purpose. R This bill caine up on its second reading, I] when Mr. AlUton took occasion briefly but clearly to explain his noble object?the educa* o lion of teachers for the poor?a work of slrik- sj ing benevolence and charity, which the pittance tl asked for was barely enough to commence. r( Mr. A. explained that the bill had been framed in conformity with the recommendation coniained in the Governor's Message No. 1. which it was thought could in this manner be best carried into practical operation. Mr. Felder, who piques himself on being q anti everything, as usual opposed the bill, in d one. of the most remarkable speeches, which g an educated man ever made anywhere off the a stump. Mr. Manning, from the special committee on G slavery, submitted the same, repoil which will be seen iri full in the House proceedings, 0 which was laid over until the next day, II The Senate then went into the discussion of a the Bank question?Messrs. Felder, Patterson i 11 1 it,,, discussion? A ] auu .tinzvcn i'ciiim ijmw.fp, - after which the Senate adjourned. t< Housk ok R etreskntatives. I Mr. Preston, from the Committee on the v Lunatic Asylum, reported it Bill providing for c< the admission of Negroes and persons of Color fr into the Lunatic Asylum. If A Bill to provide for funding the debt due to b the Stale by the South-Carolina Kail-Road p Company, was agreed to and sent to Senate. Mr. Huger, from Special Joint Committee, e made the following report: a The Joint Committee of the Senate and House of Representatives upon Federal Rela- a lions, to whom was referred so much of the It Governor's Message as rplatcs to the agitation e, dI Slavery, and sundry Resolutions on the same subject, beg leave to report the following Reso- C lotion as expressing the undivided opinion of ti this Legislature upon the Wilmot Proviso and o all sin violations of the great principle of tl equality \ ? 'ch South-Carolina has so long and v so ardently maintained should govern the action o of the. States and the laws of Congress upon tl all matters affecting the rights and interests of o any member of this I Jr. ion. Resolved, unanimously, That the time for diseussion by the Slave.holding States as to their exclusion from the territory recently ac- ti quired from Mexico has passed, and that this v General Assembly, representing the feelings of a the. State of South Carolina, is prepared to co. .> \iith hi?r sister States in resisting the UJIV IIIV ?? ?? ..... ? application of the principles of the Wilcnot I Proviso t? such territory at any and every a hazard. S Resolved, unanimously, That the Governor v J he requested to transmit a ropy of iliis Report f to the Governors of each of the States of this a Union, and to our Senators and Representatives in the Congress of the United States. This report was adopted unanimously, and sent to the Senate. It is necessary to say, however, that three n members, .Messrs. Cunningham, Johnson, and a Keitt, declared, that although, for the sake of a harmony, they concurred in the adoption of the r Resolutions, they yet did not precisely meet their views of the con'se proper to he taken, i they had hoped for stronger action, but arqoi- t esced in the decision of the great majority. t The Resolutions were then agreed to he I sent to the Senate, where they will probably t not tie |i:ikm'iI without some discussion. The Report til the Military Committee oil ? Adjutant General being so amended as to make his salary ?1,500, received a second leading r and was sent to the Senate. s Mr. Owens introduced a Rill exempting offi. i cors and privates of Palmetto Regiment from regular militia Hotv. f The. Rank debate was then resumed in f I fh.mmiiieo of the whole?Mr. A. W. Thump. I .son replying al length to ihe argument of Mr. Memmiuger, after which the House adjourned, ( Mr. Yiiucy h iiviug the flour wlien I lie ilehiite is i i to lie resumed. (( j The elections of Governor and Lieutenant ; j Governor took place in the course of the day, i and resulted in the ch??ie?? of Hon. Whileinarsh i I B. Seahrook for Governor, and Hon. W. H. I ! Gist for Lieut. Governor. For Governor thern wero two hallolings. t 1 On the first hallot the vote stood W. B. Seahrook, 77 < J. L. Manning, fill N. It. Fares, 23 i On the second \V. II. Seahrook, 64 t J. L. Manning, 78 ; Scattering 2 Mr. Gist was elected on the first balloting, I | have received 60 votes. After the transaction of some unimportant I j business, the House adjourned. i i i.\ the Senate. I Thursday, Pee. 14. i The Hill giving the Flection of Flectors to I > , the people, was taken up and read, and after ; , receiving several amendments was put to the . ' vote on a call for the yeas and nays. It was . lost by a majority of one, 22 voting for and 23 i i against its adoption. We regard this vole, as I i decisive of the success of the measure, for not i 1 only is it a great gain on all preceding votes, ; but one of the gentlemen who voted against it, declared himself in favor of the proposed 1 i change, though deeming it unnecessary to pass ; J it al (tin present Session. The measure must finally prevail, for the people will have it so. i The Anti-Wilrnol Proviso Resolutions passed by the House were then taken up, nnd the manner in which they were received, indicated a fixed opposition to their adoption on the part t of at lea it uomo. members of the Senate, ahd i f| those not the least influential. Mr. Marshall commenced the discussion, in position to them. His remarks we will give -morrow. Mr. Manning rose to respond, hut gave way. a motion to postpone the debate until 4 slock on Friday. We intend giving a full report of this impornt discussion. Nothing else of much importance was done the Senate. House or" Representatives. The night Session of Wednesday, and the orning session of Thursday, were chiefly * - ?? i A ; _ uisumed in deflates on me Dana vtuesuou, m hich B. Y. Martin, Lake, J. P. Reid, and !)>', participated. We cannot attempt to fbl w this discussion, which bids fair to he inter* inable* Mr. Martin in opposition to the ank, displayed much ability as did Mr. Reid, i support of different views. The latter geneman declared that he "was neither a Rank or an anti-Bank man?he was one of those ho did not understand the question"?a frank >nfession applicable to many who pretend to now a groat deal about it. The array of mires would puzzle Deshong the natural rithmeiician. The Committee on Federal Relations have ported unfavorably on Mr. Whitney's Pacific Luil Road project. Report ugreed to by the [onse. Mr. Topper made a most eloquent speech n (he evils arising trom the present License rstem, on a Bill before the House touching iat matter, which we hope to Jay before our ?adnrs. The House then adjourned. In the Senate. Friday, Dec. 16. There was much discussion on the Bank ueslion, in which Messrs. Buchanan and Feler participated. The former gentleman took round in favor of that institution?the latter gainst it. The Bill reducing the salary of the Adjutant ieneral to ?1500, also elicited much debate. Mr. M uses nroitosed the substitution of ?2, ..... I I 00 for ?1500 which was adopted, and the iiii was sent back to the House with this mendmcnt by a vote of 21 to 13. An appropriation of SloOO to the .Military tcudemy was agreed to by the Senate, and sent > the House for concurrence. The question as to the adoption of the louse Resolutions, relative to the Wilmot Proiso was thou taken tip, and the Resolutions on cor red in unanimously, after some opposition orn Messrs. Marshall, Moses and Black?the itter gentleman intimating that he would uug up stronger Resolutions at a subsequent eriod. Mr. Eaves in a short but fiery bu st, expressd very strongly his view of the corning crisis, ud the readiness of this State to meet it. The objections of .Messrs. Marshall, Black nd Moses, were to the wording of the Resojtions?they did not regard I hem as strong nough. Mr. Manning who in another capacity as 'hairman of the Committee on Federal Relaons, had introduced very different Resolutions, verslaoghed by those reported by him from ie Joint Committee, stated that he had given av to preserve harmony also?which concert fharmonies was a'prelude to the passage o ie Resolutions declaratory of the co-operation fthis State with her Southern sisters House ok Rkpkusbxtativks. Here also the Bank Question was paramount > every thing else. Messrs. Summer, Sullian, and Memminger elaborated this subject, n.-J when the House adjourned, at -l o'clock, Jr. McAliley had the floor. i .-- r>_.i n i 'J tie Wilmington ana Aiancuesier ivan unuu 5ill passed the House the night preceding, by vote of 06 to 25, after a short discussion. M r. iullvati's speech was worthy of the reputation i hich he lias already acquired by previous efirts at the bar and in he House. He is n , member of much promise. House then adjourned. Satuudav, I)kc. 17. In both Houses the Hank question was ol ibsorbing interest, and after a laborious session md a desperate struggle between the Iriendj ind foes o| our Slate iustiution?the latter curied the day triumphantly. In the Senate, Mr. Marshall's Resolutions dentical with those of Mr. Mrmtninger. weic rtlten up seriatim?fought over, and subjected o all kinds of modifications and amendments mt to no avail ? the two first being adop'ed? be third modified?and the fourth rejected. In their original shape, the Resolutions rat is follows: 1, Resolved, That it is unwise and inexpe.li nit for a Stale to engage in Hanking, or t< ubjpct its resources to the casualties of Batik ng operations. 2. Resolved that the Hank of the Stale ii bunded on this erroneous policy, and cxposei ' I:- ,irw| i|,? rmlilin faith to th( III? |M|iJIIU III UMJI | III*.. ...w j .. laznrds incident to Hunks. 2. Resolved. Thai it is inexpedient to lie Charter the Bank ofthe State, and that meas res ought now to ho taken to wind tip its con :i*rns during the period of it* present Charter 4. Resolved, That a Special Committee ? ach House he appointed, jointly to devise am eport at the next session, the proper measure or carrying into efl'rct the lust Resolution. The first of these Resolutions was adopted b t vote of 31 to f). The second Resolution was adopted by a vol jf 30 to 13. The third was modified by an amendmen ntroilneed by Mr. Grifliu, to read as follows Resolved, That it is inexpedient to recharte lie Rank of the State, as a money lendin( tnsl if lit ion. Iii this modified form it passed by a vote of 2 o 15. The fntrlh Resolution was not reported fror ihe Committee of tho Whole, consequently di not come up. The Senate Committee on the Charlesto Memorial, praying for the establishment of new Standing Committe on Commerce, Mann laetures and Mechanical Industry, rcporlc favorably thereon. HOUSE OK HHPRESENTATIVK8 The House was in Committee of the Who! until about 1 o'clock, when it rose and reporte through its Chairman to the House, Mr. iMcnt mingcr'n two first Resolutions, and Ih? Ihirc su fitr as related to the re charier ofihe Rank Every possible impediment was thrown ii the way ofihe passage of lhe?c resolutions I) the friends of the Bank, but Mr. Memminge was too skilful and adroit a tactician to be thu baffled, while lending a decided majority. The first resolution passed by a vote of 86 t 31. The second Resolution by a vote of 85 to 31 When the third Resolution came up. Resolved, That it is inexpedient to re-chai tcr the Bunk? Mr. Nelson Mitchell moved as an amend. ' Provided, that the right* of the Foreign Creditor he not affected thereby"?{or words... to that effect-) , ... , This amendment cave rise to warm discussion. Mr. Mitchell pressed it warmly. Mr. Memmirtger opposed it in the first place as nugatory, and after examination, as destructive of' the real intent of the Resolution. Several gentlemen spoke earnestly and well : on the subject ol Stnte faith, and the necessity ofkeeping its reputation unassailed. Among those Mr. Simmons was most conspicuous, and breathed the true doctrine ol the much scoffed at Southern chivalry?that the honor of a Slate or individual should he prized high above any mere mercenary considerations of profit or loss. The impressive dignity of his manner, the lofty tone of his sentiments, and the eloquence of his words, all combined to produce u decided impression upon the House, and caused sundry gentlemen to shake in their shoes. Observing . this impression, Mr. Adams adroitly interposed an amr-.dmcnt, sounding like. Mr. Mitchell's but very different in substance, to t'ce following effect: "And it is declared at this time, that this General Assembly does not regard such declaration of opinion as calculated, or intended to violate the faith of the Slate, or the security of the Foreign Creditor." The Resolution with this amen-Tinent attached, passed the House by a vote of 66 to 48. Alter which the House tonK a recess ot an hour for dinner, the discussion of which had h??on so long delayed. The night session was occupied with the Is! reading of the Appropriation hill, which ore isioned some discussion. The appropriation (or the College Lihary was assailed, hot Mr. . Simmons triumphantly upheld the donation to his Alma Mater. The House Ihon adjourned. THE CAMDEN JOURNAL, Wednesday Morning, December 20, 1818. WILLIAM B. JOHNSTON. EDITOR. The Markets. From the inclemency of the weather, there has been but a limited business done in cotton the past week, and the transactions have been confined to the lower grades, at prices ranging from to 3?.- A lino article would command o?. Quotations in Charleston, 5 to 0; a choice lot of 260 bales was sold for 6^. Reduction of Fare. Wc call public attention to the advertisement of the Rail Road Company, by which it will be seen that the price of fare is to be greatly reduced during the holydays. Those wishing to visit Charleston can go and return for <57. Election of Governor. By reference to the Legislative proceedings, it will be seen that the lion. Whitemarsh B. Seabrook has been electi.-d Governor by a majority of 9 votes over the lion. J. L. Manning. The ceremonies of inauguration took place on Thursday last,on which ( occasion his Excellency delivered a chaste and f beautiful address, which we shill publish next ! week. Highway Robbery. On the night of the lllh inst. Capt. Wm. Ale* Kenxa. of Lancaster, had his trunk, containing a number of valuable articles, cut front his carriage( a few ntiles above Camden. For a description of the trunk and articles stolen, we refer to his ad* vcrtisement in another column. United States Senator. The Legislature on Thursday last, re-elected Hon. A. 1'. Butler U. S. Senator for six years from the 4th of March next, w.tliont opposition. The Telegraph justly remarks, that any attempt to create opposition would have been fruitless, for the manner in which he has heretofore tilled the place was in itself the best guaranty of his reprep settling well and ably the interests and honor ot , South Carolina in the Na'iotial councils. 1 D"\Ve are indebted to the Hou. Whitemarsh B. Seabrook for a copy of his Essay on the Agri( cultural capabilities of South Carolina. The 31arion Star. We have received tl.c liist number of a very handsomely printed paper bearing the above title, published at Marion Court House, by Messrs. Rei quier & Tenhet. Debate on the Dank Question. , For the past ten or twelve days an interesting . discussion has been going on in the Legislature on the question of re-chartering the Bank of the Slate. > As the question is one of much interest, we shall s publish such of the speeches as appear best calcuJ lated to assist our readers in forming a conect opinion on the subject. We this week give the remarks of Mr. Marshall of Abbeville, and Mr Black, of Richland?in our next, we will give those ol Mr. Meinminger of Charleston, and Mr. ,1* Henry of Spartanburg. J P. S.?By reference to the Legislative Procceds ings, it will be seen that the debate on the ques. tiou was closed on Saturday, and the vote taken 5' in both Houses. e Congress. We have no room for the proceedings of this it body this week, and very little of interest has yet : been dune; enough however, has transpired to asr sure us that the slavery question will be the ab. " sorbing topic of the session. A petition has been g presented by Mr. Benton from the citizens of New Mexico, praying t hat a territorial government might n be extended over them. The following is a copy d of the petition:? We, the people of New Mexico, respectfully n petition Congress for the speedy organization, a by law, of a territorial government for us. i. Wo respectfully petition Congress to grunt (I us a government purely civil in its character. W i respectfully represent that the organic and statute laws promulgated by authority of e the United Slates September 22d, 1846, fiir the (1 temporary civil government of New Mexico a I ..,t,:?k ;B rtnanntrhed?with some few al i" ???? ?. ... * | I, terutions, would bo acceptable to us. Wo desire the following offices to be filled by ti appointment of the President of tho United y Slates, by and with the advice and consent ol r ihu Senate; Governor, Secretary of Slate, s United States Marshal, United States District Attorney, and Judges, o We desire to have all the usual rights of ap. peal from the courts of this Territory to tho Sul preme Court of the United States. Wo respectfully but firmly protest against the r- dismemberment of our territory in favor of Tex. as, or for any cause. RSW desire to hare domestic slavery within" dur borders; and, until the time shall arrive"'.for our admission into the Union as a State/ire desire to he protected by Congrear apaingt tjicir introductionaoywiatw/-^IJVjl We desire a local legislature, soch ar frprp. scribed in the laws of New jVlericd^Scpfembe^jaya _ 22. 1810, subject to the usual acts of Congrjri^M^ We desire that our interests may be repreEp: ented by a delegate, who is to l? : have a spat upon tbefbwr . the United Slates. ^. ? In consideration of the fact that New.Mexicu contains from 75,00 to 100,000 soulf/wet tfe". lieve that we bare made no unreasonable re* quest; and we confident/ refy opon Cori?rcfjtr> provide for us laws as liberal as any enjoyed! bv any of the Territories. . ' Santa Fe, Oct. 14, 184?. (Signed) JOSE MARTINEZ, iJ. M. OlDDINCS. Secretary, and others. . TIIE BANK. Tlie position of the Bank question at the present? is rather odd. AJ uch has been done by its antagonists, hut much more yet remains to do. The Banlr has received a severe shock, but its pillars yet stands firm, by the refusal of the Gene.al Assembly to put it in commission?as required by.Mir. AIem>-, mmger's rejected resolution. Its escape was a ' narrow one however, for a somewhat similar prop- . ositiou made by Air. Middleton, in committee 5 the whole, was lost but by one vote, 57 to 58?his f project being the electii n of a President aod Tour N Directors lor the purpose of winding it up., j ' ? The ''Dragons.teeth," sown by Gov. Hammond and Air. Aleimninger, have brought forth a crop of armed men: it. remains to be seen whether their organization can be preserved long em ugh to ,effeci their purposes. Their success, thus fc^baf. been flattering, but the advocates of the Bank a bold tare upon it. 1 Another unexpected resnlt bair puzzled the knowing ones?all Summer it was said that the * Up, Country was against the Bank,<atuh the Parishes in its favor.; but the yeas and nays show preci.-ely the reverse, for almost every man from the 1 Parishes is against the Bank, while theUp-Coun- \ try generally moves in solid phalanx for it 1 The great Captain of that i-'slitutien has been on the field- giving aid and comfort,to Ids 'skirmishing parties, and was si'ting within a few feet of the sapper and miner of his castle, when the latter, in lii.s clear, shrill tones exclaimed, "tRlhtth est Carthago"?"the Bank must be destroyed!" to which that gentleman did not .i^spood amen! Upon the whole, the raw recuits on bo^n sides gofc through pretty well?they broke rank* V?'ne< rates', but a call for lire yeaa and nays brought thent up all standing. .jj ;{); j JwD/m we were rather disgusted at the frerjvencj <T this call, intended as a whip to lash in the tefrac- g lory?for surely a body of Carotin* gentleanm should not entertain llie -imworthv, doubt, olleo imi lied by it, that the dreaiFof the*rtcprd could influence the vote of a man of integrityand honor Dcnto Telfgttrph. *' - * I'iFvio The following gentlemen were appointed at the Board of Visitors for the ensuing year, fcjf the Trustees oft he South Carolina College ai 11) fir fust meeting! ' ^ ** *Vf .f ;W> Hon. J. C. Calhoun, Pendleton. flow. !P. Johnson, Union, Rer. S. Gilman. CbartestdB; Rev. S. S. Davis. Camden, Re* C. C.'JoWfe*; Columbia, Rev. M. A. Curtis, Social/ Hfl'? Hon. W. Elliott, Beaufort, Hon. A. Patterson, Barnwell,.Dr. T.Smith Society Hill, Dr. R, ^ \V. Gibbes. Columbia. ** Correspondence of the Baltimore Sun. ' Washington, D*c. 10. . The bill of Mr. Douglas* is evidently, rec^jy ing much of the public attention and of that of members of the two Houses. It is perhaps the most unobjectionable which has been prtsei-ted and, I understand, in many respects; meets thu approbation, or ditl, at the last session,-of Mr. Vinton, the distinguished Chairman,'in tho House, of the Committee of Ways and Meaas; and one of the most liberal member* of that body, who has ever occupied so conspicuous a station. It does not niret, entirely, the views of Mr. Wflmot, and other free soil Northern men, o( both political parties, but I think th/jf will ultimately give their support to its provisions. They note -prefer "territorial gorertol ^ ments, for new .Merino and California, seperately and with the si a re restriction Included."-^ But failing in the accomplishment oftheir wish, es, I believe they will go for tho bid of Mr. Douglass. The South, too, are, by no moans, perfectly i satisfied wilh his, Douglass' bill, but this arise* i more from the local position of the State tVhtchi j 1 Ik: represents, than from any objection, really to the features of the bill. The commenU'of (he ' Union." this morning, are prnlnihly more in accordance with the views of Southern men wliigs and detnocrats than are those either of the ''Courier or Inquirer" or other influential fj Northern whig Journals. "..."4 . Hut one objection, }.o fitr a* I can perccrre, can he mged against the mod? oj spjllement proposed by Mr. Douglass, That is, the ^ culty in regard to application for admission info ' , the Union, by the people of California aiul New < }fcxica. Hut on this point the precedents, if my examinations have not deceived me (and in these examinations I understand that I am borne out by Mr. Vinton,) the precedents ure entirely in Mr. Douglass' favor. Vermont, Kentucky and Tennessee were the first three States admitted into the Federal Union after the constitution was adopted by the I old original thirteen. From the acts of Con- -?s gress admitting these, it would seem that they were not required to form their constitutions, and submit them to Congress for approval, previous to admission; nor does it appear that eveu application for admission was required. The practice requiring a constitution to ha presented, seems to have originated with ths admission of those northwest territories, tinder the ordinance of 1787, and that their constitu. lions were required to he presented, to enable Congress to determine whether they had con- ^ formed to that ordinance in every particular. In this mode. Ohio. India, and Illinois, were m | admitted the fast in 1818. The next aew | Stale admitted was Maine, in 1819, which K would seem, from the act of('ongress, \va?ad. mitted without any previous Authority from Congress to form a Constitution. From all this, the inference i* clear, that j Congress and the Constitution of the United Plates only require thai Constitutions shot ld l?e framed and presented, from surh new States only as are formed und presented as territories ceded by the ordinance of 1787. washington, dkc. 12,1841. The manner in which Mr. Douglass'Bill was received by the Senate yesterday moriing does not seem to augur well for its speedy fas| sage. There seems to he as yet, no concerted action in regard to it, though it is hoped that in the progress of debate the Bill may acquire strength and finally pass. This hnivever, seems to he probable only in the Semite. Iu the House, 1 have reason to tear, there will he air organised opposition to it* which will insist on a rider to it in the hapft.of.ih* i Wilmot proviso. A great many fafe Cam met) j hdve joined the free soilcfs of httej asf a means J . ... * , .