The independent press. (Abbeville C.H., S.C.) 1853-1860, January 15, 1858, Image 1
vfflf&kjin -to &xteeature, thb arts, scishcb, agriculture, hews, politics, *c., *c.
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% TERMS?TWO DOLLARS PER ANNUM,I ' * ' '"T.ot it ba Instiled into the,Hqartsof; your Children.that the Liberty of the PreBS i* th?j Palladium of all your Rights "?Junin*. ' ? - [PAYABLE IN ADVANCE.
AOLUME 5?NO. 37. ABBEVILLE C. II., SOUTH CAROtl^A-,' FRIDAY .MORNING, JiNUAM. 15? '48$. - WHO^NUMBER 245 ;
RATES OF ADVERTISING-.
The Proprietors\>f the Aljlrcville ll'innrr ami
fndcpcn&er.t J'rcsx, have established '-he follow- i
Jug rates of Advertising to lie charged in both j
papers:
Every Advertisement, inserted for a less time j
than throe month?, will be charged by the in- ;
Sertion at One Ooliar per Sqnaiv, (li inch
?" the space of 12 solid lines or less,) for the first j
insertion, an Fifty Cents for each subse- !
<quent insertion.
{35* The Commissioners, Sheriff1 a, Clerk's j
Jiinl Onliiisirv's Advertisements win no insem-n
in hoth pnpcrs, cneh elnirginir half piic?.
zw Sheriffs Levies, One vncti. j
ZW Announcing* Candidate, Fii'ts ,
tars.
,-i Advertising nn Estrnv, Two Hollnrs,
to bo jmiil l?y the M:ii;istriit&
Advertisements inverted f?r three months, or :
longer, nt the following rates :
1 square 3 months ...... ft 5 00 j
1 square 6 months - 8 00 |
j o ...,..,ii.? in nn i
* ' - - ,
1 square 12 months - J i 00
2 squares 3 months 8 00
.2 squares 6 months ...... i t oo
2 squares months ...... is oo i
2 squat es 12 months ...... 2D OO |
3 squares 3 months ...... lo 00 |
3 squares 6 months ...... l<; no
:v / 3 squnrcj 9 months ...... 21 flu
/3 squares 12 months ...... 25 (to
4 squares 3 months ...... 12 On
4 squares 6 months .... - - 20 00
4 squares U months ...... 2ft 00
4 squares 12 months ...... ;jm (id
5 squares 3 months ...... if, 00
6 squares fi months 25 OO
5 squares 9 months ...... :;i on
5 squares 12 months ...... 35 (mi
C squares 3 months ...... tin oo
<5 squares 0 mouths ...... ao no
squares 9 months r.ij OO
0 squares 12 months - - - - - 4o OO
7 squares 3 months ...... 2.r5 00
I squares t? monuis ------ ...? <m
*7 squares months ------ -t 1 <10
7 squares 14 months ------ 4o 00
8 squares 3 months ------ 30 00
S squari'S 6 months ------ 40 00
S aquaros 9 months ------ -4?? no
8 squares 12 months ------ 50 00
Fractions of Squares will be charged in proportion
to the above rate*.
Jtusiness Cards f?>r the t.erm of one
year, will he charged in proportion to the
s?paec they occupy, at One ltollor per line
space.
?5?" For all advertisements set in duitblc r.ol?>??,
Fifty per Cent, extra will lw added to the
above rates.
DAVIS A CREWS,
ror Banner;
LEE A WILSON,
For Prcxs.
?? B^-W | - | IBIHIMI n? ! ... ??? .
MISCELLANY. ~
Sexton Exihmhoy at Wokkord.?The winter
c;y examination at Wofford College closed with
the exhibition of tlie Senior Class on Wc-diiesis
day lost, in the Chapel. The audiencc was a
complimentary one, and the exercises were relieved
of monotony by the dulcet strains of Mr.-,
, Latta'a Siix Horn Band, whose services derc
V.'- obtained by the class for I he occasion.^TJ^e '
followinii was the order of the orations: Vt?R
The" F. Barton, Orangeburg?;
lattice sins labors. ^
Duncan, Virginia?Woman's
encc on llic world.
.1. C. llardin, Chester?Regiment of aojjiejy'
i-j . ? not an unmixed good.
.1, O. Hardin, Chester?General dilTu?<5ii'0f .
X'jys: J. Alonzo Harri?, Abbeville?Some
* e\'ila of colleire lifo. JfXi&a
.R II. Holinan, Oran:r>;bnrg?Francis
J. B. Jordan. Abbeville?
iv\, i "Know then this truth enough for man to kncSj/i
\ir - Virtue alone is happiness below." _i.v."
J as. A. Moore, Spartanburg?The future desv |
tiny of the Union. /* i
A. W.Moore. Georgia?Dueling.
J. B. Sanders, Colleton?The IU-formatior&fi^ !
J. F. Shackvlford, Georgia?Literary aW '
? ;V: scientific genius of America. -
' H. B. Tarrant, Abbeville?Vanity of human.' '
'-01' wishes. ,
While it cannot be denied that different orders
of oratory and dvgrcess of excellence in
composition marked the several addresses of |h?-,
membf? of the senior class, yet we inujff/c.laiaif
-. that we uever saw such general succ(Sln!iiij^
^ lar exhibitions. Several of the declftiiners; '
: ^ .j"r shoxved capacity for public speaking of u highi !
'"i order, nnd of all the compositions it may be said,
'-Vthey were above mediocrity. We think they
: flid themselves and theirahna mater much crcdit,
and she may expect bright thin^ of them if
their future Imnroi'oinmit but. knent i?p? until
- V r' the past.?Carolina Spartan, 24tli iiist.
Washington, Jan. 4.?In the Senate to-daJrA
j&wl/ on motion of Hon. Borij. FitzpntricV, Jof
V 'i 2. all orders, correspondence and instrtfctiontrli**
, > f sued by any department of the Government.
relative to the seizure of General Wm^-Wanfe*^
*' . were called for.
'tjksThe lion. George E. Pugh. of Ohio, fntilj'
duocd a Kansas compromise bill, proposing to
. admit Kansas under the Lecompton Constitu
gjf-O- tion?submitting the slavdty clause to the peo^
pie; ami authorising the right of the.people to
B8j?a*<: ' amend the Constitution in a convention to be
' '5^|held on the7th of April next. ,
J'r. ' Kansas affairs wore generally discussed.
EgS?]i Ih the House, the IIon./T. L. "Cbngjbnn, ofN.
J Carolina, introduced a resoldtlon^Whieh was
amended and passed, cullingfor ?Jl,fnf?rj>laVion,
Hrcg^/w'tnetructions, nnd correspondence it) regard to I
> ; '^Ocn. WalkcrV arrest at Grey town. / V
The discussion which resulted wate?1lh. 1
Ty^ft'V"The Hon John A. Quitman,
'M consist"(which v ns refused) to intr^flnc^A t)niy
>; : / V ?o:repeal thajjitit.r;ditjj laws. ' '
^v?..vi iloBBRT-J. Walkeu.?Robert J;.Wefl?W(|
&Mrtfe.Gpvernor of Kansas, was bom in.
' .'-<??/i^Ql.Tnnj'w therefore . fifty-six years old.
<p;uive pliicje, wa? 'No>lhutiil?eH'*n4i,
.]{!? fiat htirlhrtrl ^iTOiMiiilfir.
Speech of Hon. J. F. Marshall.
Senator from Abhf.vjllk,
Iu the Sennit, vu Thursday, Dec. 10l/t on
the Bank Question.
The several matters relating to tliu Banks
of tliis State being before the Committee of
tiiv whole Senate, ( '
Mr. Marshall rose and |<iid : That in
upi-mug iik* discussion oi 11^0 question now
under consideration, In; lelhembarrassed on
account of the many propositions submitted
by Senators, for the regulation of our currency.
lint on looking through the various
propositions, lie saw no material difl'i-rence,
except as to the Hill of the lion. Senator
from Christ Church, iMr, Wagner, which
contemplated immediate action.?All the
other measures look to the future as the
proper time, to coin;>el the Hanks to change
their present mo J v of operation, and to confine
themselves to lecritimato L?aiikin<r.
He avowed that in principle he was op
posed to the State engaging in Danking,
i?nt was in favor of the citizens engaging in
that business. That the object of Hanking
was to all'ord a sound currency, and respond
to the wants of thev people, audio make
money, and that this properly belonged to
the citizens and hot the State.?The State
might as weirppgagelii'plauting, manufacturing
or iner^hatmi^e,? as to engage in
Hanking. Theser^rotfssions all have fur their
ultimate aim,'the^ipiking of money, and
lli<? Sstnlo eliiiVli) /"/(inn m ii*?t if >/ ???
? - Ofw-'M V.V.JIV ... vv.?cvm.uu
with her citizens. i
lit-said that he^uad been in favor of the
re-eharlering ffie private Banks, and establishing
ntiW^one-S'iipon the^groitiiid. then alhyi'd,
in th&, varices memorials, that more
banking capital r?*as uctually nccessary to
supply tlie wants of the people in ?lhe middle
and upper portion of onr State. Believing
iu the hot est profession of tlicse memorialists
lie voUd.for the establishment of
the new Banks. But the present prostrated
Ci>nditi?J?Kof all tie industrial pursuits of the
country,.=\yas ji sa 1 commentary upon the
wisdom of our L?* jislatt^re, and he felt hound
in justice to his <r ?r(stHuents, aod to the in
KMvai 01 uie oiaie at iargp,no repair, in some
manner, the eflec s of ubwi.se legislation.
To abolish the present banking system,
or .cripple the ba^nJjs'Svo'iikl be Unwise
legislation. For o interwoven have become
the. banking syst in of this county, with
Agriculture, Cot merce mid Manufaetijres-,
that they ha.v?J nb^^peoortib' indispen-1
sable to the.tiujfness operations of lif?; 'but
the experience of the past history of Banks,
and the disastrous results:of tbo working of
system-, r\jftuiW^:Seriatore Tfo
pause, and i^elif "Ulexeli >.Soru'e .plan
(>y \vhi(-.h^- toecjah s^.rfrnend" 'the presC'iit
Barikin" svateniv^Aif 1i<? rli'irnifiwi l?u
^our MiiyWo^" c'iliiiMi?ls s^ i z
Lth^^tg '1 a 'fi!!!.
i lie number of Bills they wish to issue, j '
The auditor then has struck oil' hills not less j
in deuomiuation tlian ?10.00, signed by I
the auditor, arid marked on their face "se- | j
cured by public stock."?To enable I hem to ' t
redeem these bills without sclliug their pub- |
lie. securities, they are requbvd to keepal- j
ways on hand, a large specie basis 1 to II. ; ^
They cannot issue one dollar bo.vond whnt i
is given by the auditor n?<l t... i !
. uu in lUHKT :I | j
heavy penalty for voialatin<r liis p'o-cribed t
duly. The stockholders arc all held respon- j
sible for all the liabilities of the banks in
j proportion to the amount of their stock, and j
! if need be the. whole amount of their private ^
i property may be taken to cancel the debts
of the insolvent Hanks. For h violation of j
any of the provision of the Act, the Hank is s
put forthwith in bankruptcy. >
So well has this system worked under
the present tnonctarv crisis tlm? >? *"
well fur Senators to imitate t lie* Slate of Louisiana
in trying to give to her people a sou ml
! ami stable currency. Hut let us turn from j
that system and see what is the present hank- j t
ing system of South Carolina, ami first, j
what are the powers confered hy the charters 1 j
as they now exist? They have power to j .|
issue three bills for one of capital, ami not
as some suppose three bills for one of
gold ami silver. That is, a Hank of $1,000,- j
; 000 capital has the power to issue ?3,000,- v
0U0, ami based upon domestic exchange, or
whatever the President and Directors may
deem proper. They have the power to j
change whatever rates of exchange, they
??.vi jinn uiu power 10 lei'jso 10 ui* |
count good notes at six per cent, per an- v
nuin; They have the power to scatter 'j
.their bills beyond the limits of the Slate, j
whereby they can induce people to take
them, and deny their citizens the use of j
these bills. t
In a word they havo the power to give "i
us a sound and stable currency, which ' j
would, if legitimately managed, afford all i
?iw i: t* ii*.. - -1 ? " t <
tuv; IVIICI lllilt l-UUIH IHt HSKCM 1>V VIKi pifO- i |
pie of our Slate, and power to make the I t
currency of South Carolina the pride and
boast of, her pocfple. 13iil instead of using j
tho power conferred on them by the L"cn?lature,
for the,benefit of the Agricultural j
Manufacturing, and Mercantile interests of v
tlte State, they have wilfully abused the *1
trust confided to them. j
. _ What are, then, soinc of tho evils of our
[ .present Hanking system 1 First, that is no
C,-II ? T.' I i> . i I r. I f
OJOKIU ill rtll_ J ILuU'.ll DailK. I1HS US OWI1
harter, and lias thus far managed to do as
they please. All they are compelled to
do is to send in to the Comptroller General
a monthly statement of their assets and
.liabilities? * Se&iudly, lliero i:s no provision
}. for a sptcic basis in any of their charters.?
*They have almost an ' unlimited power of
i expansion. And this power t<> expand
. Hboir circulation, and pander to the cravOf
speculators and stock-jobbers, have
; J&rougjit the ruin that is now upnii our
; 'fiSifotry. The power to issue as many of
?ihey* bills as they find employment for at j '
* usurious-rates oi- interest, lias been llic one
Tdea of many of our so" called furnishing ]
?fin fact the sole idea of making
f dividends for the stockholders, lias
f ^<?,^Pgro^ed;i11e minds of many of our
* iTrnuu^ftig&rs, that they have cotffpletely j
* J6stJttght ofj.he wants of the people of our
k. SJbiK ','Tiie idea of discounting notes at
WI emit, as their charters authorize, is
| .hflk)t'ej\irby many of our Hanks. They
+ do not caU that legitimate business when
j iHfcy c^n discount the same paper in anotli"
a6T;*fotm'(Domestic Exchange,) at from ten
^tqpf^fceir per cent, per annum. Can that
' ;U dort$-wfien the charter only allowed
ij to charge one per cent, for every
? ??ixty idays; or in other terms, six per cent.
5 per4anfiuni ? The Hon. Senator said it
^Jjhfld been done, and that he would instance |
Vlrj^foctionvthat came under his own oht
s.(irv;iiicy) ; a friend of h is desired to borrow
$ 10 ,000.upon a note sixty days, en'
doreeilby gentlemen worth 8300,000. The.
' tiote wa$"prefiented to onp of our suspended
P IJflfoifo, for discount; but was refused, upon
CtHo {jrouri^ tliat the IJank wjis not in funds,
j >Th<j. frifefid returned sorely disappoiuted.?
^Utie gentfafnan desiring tlio loan, was di ,
'reoted Vo change the face of the paper, by
* *d rawing il Bill of Exchange on liift" Factor
^ ?n CUtfmalqri). ajt sixty clays,; acccplancc
i' ibdVed^, gad get the same eitdorst-rs, and
^ pr<?^nf^n^iprfl|er In'that shape. The pa-I
per w?3 present*'), and tU,e president told
^ "j?im they^wi^re then in funds, but the rate
i/'of exchangeruling very high. .. The
.money bovrpwei* asked what the Dqnk
(.'tvoiiW charge Orie por cent, per monthH
'IMietract wa^ agreed.to. and the money
jft loaned?* Tliis?. irfwvliHt is termed a ."Kile,<L
fe' Jjjd that nfbre than one-half of the .amount
r&iVlToniesti<^Exchange set'down as the , ns^?ur
p.an^a> were thisch aril
KlSjfr ityrti .of Domestic Exchange is look
regarded, by nianv persons
^ goJd-nnd Bi)ver?being drawty
K pjWfepppoged, ijjfpon the produce of the
"wp'Vy person . unaccustomed to.,
^fenk^i'g.OB"ralroTiB, .will look upon- Kx mrrange
a> equivalent to gold and ailver.
^^Mro^^th^)ifc$p^utes " They are drawn
^m^Wrnothing, amrhever lenvelne bank
[^d-'It-Vt? .bjB.uedi upofr
i^^aBE^but^the sgjvenc.y oMbe maker-and
tbapaijkjcan lpok fur .its
^otes discounted on personal se- I
curitv, ..." 13,719 !
)omestic Exchange', 005,017 |
Kxchanye Bank, Columbia.
?ills in oircul;:':oii 008,304 :
Specie 815.0. . 1.00 in coin, 38,135 |
Soles discounted on personal seen
ri I y 282,303 1
domestic Exchange, 1,201,075
jPco/rtcx Jlithk-, Charleston.
Jills in circulation, 034.400
specie 12 to 1 7 1,700
Soles discounted on personal sc
curilv 482,7(30
.lomestic Kxdiatigc, .... 980,284
Varment and Kxchonyc Dank, Charleston.
tills in ciaculatioii, . . . 1,115,510 !
>peciu 10 to 1, 73,083 I
S'otes discounted on personal security
753,736
)omcstio Exchange, . . . 1,105,250
Jommcrciul Bank Columbia?Spcciepaying.
tills in circulation, . . . , 450.055
specie 0 to 1 79.710 !
Notes on personal security, . . 010,050
>oiiu-siic Exchange, .... 5S9.018
lie otieratiuns <il the above lUiiks iiinlcr :i
period ot contraction, ?Vj>t. 1857.
2?twberry Bank.
?ills in circulation, . . . 520,721
specie, 30,057
S'otes on personal security in
August 824,434, . . . 137.000
JomustioJixchaugC, .... 053,744
Exchange llank.
Sills in circulation, . ... . 470.485
?pcci<?, 37,543
Notes oti personal security, . . 310,378
Domestic Exchange, . . . . 021,758
Peoples' Bank.
3ills in circulation", .... 350.080
Specie 34,005
Votes on personal security, . . 80,050
JomeMic. Exchange, 975,149
/.r._ ,.i K..i n .. i.
jf'U / //(LT ? Il/ILL ii.lt/tu7typ JJUI'tC,
-iil!f> in circulation 040.085
specie 70.590
Soles on personal security, . . G71,408
Domestic Exchange, 815,012
Commercial Bank.
)iils in circulation, , . . 330.455 j
Specie, 77.055
S'otos tin personal security, . . . 079.407
Domestic Exchange, .... 470,341
Now it can l>e seen from the above abitracts,
what kind of business some of our
-uspended Hanks have been engaged in, as
. otnpared with the operations of one of the
jest managed Hanks ii. this State. Have
liese Hanks been fulfilling the objects and
mrpcscs for which they were created ?? '
Have tliev been loaninir their canital to i
.lie citizens of this Stale? Have they been '
illording facilities' to bring forward llie proluce
of ilie, country ? J.et their line of
Jiseounts answer. The Newberry Bank
lad only ?13,71 1> loaned on notes sccured
l?y personal security, when she had in circulation
?652,000. Exchange Dank had
inly *>2S2,000 loaned on notes on personal
security when she had ia circulation,
[>98,000, and so on throughout the whole
list of suspended Banks. The loans to inlividuals
on personal security by all the
...... .r?l 11.... L-- ; 11 ?,.l 4l nnn
iur>|'ui<M?vi !>'? ! rw 1 >?li? Iiuv V.\? ccu
DOO, while at the same time these Banks
li:ive in circulation Bills to tlie amount of
aver ?8,000,000
Look at the operations of the Commercial
bank; it ha<i ?010,000 loaned on
personal security, while it only had $450,000
in circulation ; this was in prosperous
times. But follow this Hank down to the
month of September,when the crash came;
Jo we find it drawing in its discounts? Instead
of that, we lind that it had, actually
increased its loans ?70,000, when it would
have been supposed that it would contract
like some of our other Biinkr. Look at its
Domestic Exchanges ; do we find that
amount exceeding twenty, forty, sixty arid
eighty times the amount loaned on personal
security, as is the case with sonie of our
suspended Banks? No. It appears froiq
the exhibit, to be fulfilling,the objects for
which it was created,' via : .the accommodation
of the people at* home, by loaning
its capital and affording facilities for buying
our produce.
The question naturally-arises where have
our suspended Banks jeipplcyed this vast
amount ol ujrculaton.'f. We- cannot employ
such un amouut'pf circulating medium
in this Slate.;-.It has been established by
some of our most practicable banks, that
a circulating medium of ?5,000^000 will
answer all tlie agricultural, Commercial and
Manufacturing purposes of our State. \Thd
Question isSiyjiwered * by first tlciokihg al
the enormous amount or Domestic Exchange
that 1s in tl|o pjwseSsion of tljwe suspended
13a"nks,' and. then finding out'.where they
llflVI> H>tflllllsill''i'ih'(ipi>riTiu Alullonio Miu'
sia-sippi, Arkansas' Hiitf Florida, Agencies',?
'^beyj"* instead "ot^ loaning - their capital to
peoplo'of oyr f?tate? liavfl shipped it to other
States iir quest of largl gAins. In other
words the Legislature insted of establishing
Banks for.the tucquiThodaiion of our own
,pe?>pl?, have established them for the benefit
t>f Hfe Sopjli Western States and the city
o?,f?ew? Yqrkjfc'.'fhe evidence -of-this fact
wjl be found tuavellhig through ri'nv of
our Sout R Western 'Slates. VIif t'ftcif, Nortjf
Mississippi fipd< Norlhk?Alabama*is inbornploio
possession of some of our Bank*',
'itfe^ are' Running in selecting .favorable
lqbatittns ,wbere>tlfey can' circtllftte HlTeir'
a director of one of these suspended Banks,
whose veracity was unquestionable.
The President of these Banks, or some
authorized person takes lodging at some fashionable
Motel, and he soon makes it known
tliat he has funds there which he would like
to invest in good Southern paper. lie is
soon waited upon by some of the merchant
princes with a large bundle ot notes upon
Southern merchants. The Southern Banket
selects the best, and tlio?e having the shortest
time to run, and a shave is made, at the
I - on I m\ -i:~
i<?iv wi iu, t 1111 ?y\i j>v:i v;uiili uim'ulllll
C>*e would naturally suppose from litis oper
nfion, that. the New Y*rk merchant is doinjj
a loosing business, if lie submits to suet
xhxtr'ivtj. No' a dollar docs lie lose by tin
operation. It is the Southern consume^
who lias to pay for the shuve. ?The Neu
York merchant puts on his tariff to suit tin
standing of the Southern merchant. If In
is A. No. 1, this tariff will not he high ; bu
if 15. No. 2, he will have to pay dear for hi
goods, for the New York merchant will al
ways keep his eves opon to the question
\\ liiit can such paper be sold for. Tin
Southern merchant has to put his per cent
age on the goods iu order to make a profit
and the back bone and sinew of our eountr
have to pay the Banks for these shavinj
operations. Instead of loaning our luer
chants the money here at home to ctiahl
them to buv goods cheap for cash, they pre
fer K*tting the Northern merchant tax ou
Southern merchant to the utmost tha
they can bear, and they shave thei
paper at enormous discounts. In fact
said this Piivctor, that while many i
our Si nil liern merchants are engaged in nt
gi>;i. t r.g the lernisupdn which they cm bu
a hill of goods, a runner is dispateljed froi
the store to the Southern Banker, to knoi
what he will do such a merchant's papt
for. The trade is made with the Banke
and the goods are sold in accordance wit
the rate of the shave. The note given fn
the goods frequently reaches the point wher
it is to be paid before the merchant get
home, and opens his stock of goods.?Lc
O . . ? * *
I'vury rtunnior now simc nsmscii un; quesuoi
arc these institutions Banks of discount, d<
posit ami circulation, as is understood b
their ctiarlcrs, or what are the}* ? They ar
nothing but shavhiff shops, and if it is th
intention of the Legislature to lot thcin g
on in such open violation of their charter
wo ought to amend their charters, strike on
the word discount and insert sliaviny, am
let them be called shaving shopr. at once.
The question, then, that addresses itse
to each member of the Senate, what "ai
we called upon, as Legislators, to do in th
| present deranged state of our currency, an
: in view of tlio prostrated condition of th
Agricultural interest of our State? Shu
| we sit here and flitter si way our timrf unt
! the hour of adjournment comes, and leav
i the H sinks to I'lirii' on. as snmn fit" tlim
have heretofore done. their unjust, and ?isi
riotis operations? Shall we leave our p<H
pie at. tlie mercy of these soulless shavin
shops 1 Shall we permit them to he Haul
ing institutions for other States and cities
Shall wo permitthein to Hood the counti
with their hills, without, ever having a d<
cent show of silver and gold in their vaults
Shall wo realize, or countenance, their su
pensions, as is now asked for by remiltin
the penalty ? The lion. Senator Said, nc
he, for one, was prepared to stay hero unt
something: was done for "'the relief of tl
country, and to prevent in the future a r
I urn of these disasters to our currency
| lie was willing to let the suspended Banl
j remain just where they have placed then
selves l?v their own mismanagement. Tin
kenw full well that 11 fey were o^:r issuit
their means to redeem. ,, They knew at ti
time that they were carrying on these ska
inr/ operations, that they were-buying n
convertible paper, ami in the event, of
panic, il could not he made available. In
word, they knew, as sensible men, while th<
were extending every nerve of the Banks
make these dividends any bonusus, that il
pressure'ever came npon them, tliey wou
he obliged to suspend.?For the sake of the
large gains,.thej*preferre'd to mn-tho gaur
let, and now let (hem take the* conseque
'cos. ,
Why have not .tho, other Banks of o
State suspended. They form a part of-tl
great monetary operations of our cotintr
and are subject lo the Dresent monev Drt
siire as mneh as other Dapks? It is h
caitso tliey have heen'prufffeutly manage*
you find silver and gojd in their'vaults, si
ticent to meet the demand tnadp'upon thou
you do not find their assets locked up in e
ormous atnonnts of Domestic .JSxchan>
They havjj been loaning tjiefr capital to the
customer'*, and the people of* the cbuntr
Jt is then idle nonsense for these stispendi
bgnks to thw^Legislafiire, Jhey could n
avouf suspensions, juid pray to have tl
small pittarFce of.the-,< enalty .of 5 perc<*t
per annum, remit'e.d.* TheirsiiBpeijsion w,
obligedto follow from their own admission
for they admit in their memorbilA' that tin
hifd funds locked iJ|> at the . North, /wbi<
a quid not be available,, but they took oa
0/R7 about,tjie number of oolln
Rocked up irt kites. They 'have* broug
- 'tffese disasters upon themselyes, and nc
, let them reinstate. th?*if?cre$i?j>and.ji reshn
specie |> lymuiit. If their; resumption
specie'pnymeriv depended Aton$ upon. tVi
small perinlfaV when they Jjrivejpow iu tli(
yaaft?,^d,oS^..hnd io sonte* .instancesJ
Bumc. Thty haVe,^otlbe!f"p6u^d6Ifl^l
' :?n^,. , \& - JL*We
?liouki. no<y pass n ?<tw. eiihriteh
JodntrdV the lssdfe of^t>1lla bfcour wnklTi
Act of Bankruptcy, and put (horn forthwith
in liquidation. Fourthly, withdraw gradually
all hills bulow ilie denomination of ?1^?
This will allow a sub stratum to he formed y
in the country of gold and silver, and in
i time of need be a safe fund for the Banks to
i fall hack upon. ^
But now their small Wlls have driven out C(
all coin, and they have nothing, but their ^
irredeemable bills to rely upon. Lastly?
lei tlio stockholders of the Banks be held ^
s responsible for all the debts of their stock.
If Senators would now direct their atten- 4l
tioti to these leading principles,awl pass a J
: law to take oiled at some future day in ac- .
i cord anee with these suggestions, wo would /
i have one of the best Hanking systems in the
, country, from sudden expansions, and cont
tractions; sound and stable, and reinunera- ^
.5 ling the stockholders with good dividends. |
i Such a currency the people of our State det
maml at your hands, and we should never
s surrender to the outside pressure that is now
- brought to bear upon this Legislature, until ^
, we have accomplished the desired end.
Monterey.
5 AVo were not many?wc who stood '
Before tlie iron steel thatduy; '
r Yet many a gentle spirit would
Give lialf his years if he hut could
u Ilnve been with us nt Monterey.
" 1
Now here, now there, the shot is hailed (
r In deadly drifts of firey ?jiraj*; .
i'et not n single soldier quailed
1 When wounded comrades round them wailed (
'j. Their dying shouts at Monterey. I
Anil mi. still on nur column kont. <
Through wall ?>f flame, its withering way ; <
' Where fell the <lca<l the living slept,
,. Still charging on the guns which swept I
The slipery streets of Monterey.
ri The foe himself recoiled aghast,
I' When, strikimr where the strongest lav. J
We swooped liia flanking batteries past,
e And, braving full their murderous blast,
s Stormed home the towers o( Monterey. (
, Our banners on those turrets wave, <
And there our evening bugles play, *
y Where orange boughs nhovo their grave '
(j Keep green the memory of the brave
e Who fought nnd fell at Monterey.
w e nre noi. many?we wnopresseu,
5> Beside the bruve who fell that day ;
' But who of us have not confessed
L' - lleM raihur share their warriors rest
Tlian not have been at Monterey.
v. Rev. I)k. Tysg on Oi.d Woman*.?Rev.
? Dr. Tyng delivered an eulogy on "Oid VVoJ
men," at the annivcrsftry of I lie Association
? for the Relief of Aged Indigent, Females at
II New York. The Tribuue's report has the
il following;
e There is a great difference between old
11 women and old men. The bible speaks of
t- "mothers in Israel;" Does it anywhere
speak of "fathers in Israel ? A man, when
ff* lie goes old and gives tip business,.or "rec
tires," becomes imperious, uneasy .and uni
pleasant. lie withdraws himselfinto habits
y ?if introversion. If he is a cigar-smoker, he
e- smokes all the day long. ... If he is a newsi?
paper-reader, he reads it through every dav,
s- advertisements and all. [Laughter.] Or
g. else you will often catch him down town in
>; his own or somebody else's counting house,
-il lie is uneasy if he is not there, and you will
le generally fiiul it most comfortable to let him
e- be there, [Laughter.] The only way to get
? work out of an old horse is to keep him at
<s work; and the only way to make an old man
11- worth anything is to keep him busy. An
V old soap boiler in this city retired from busily
ness to a country residence on Staten Island
ie to "take it easy but ho soon got sick and
v- sent to town for Dr. Ilosack. The doctor
n- went to see him, and wrote out a prescripa
tion,"Go back to New York and take a
i a turn again at boiling soap." [Laught6r.)
ey 01.1 men get gouty ; they are continually
to getting cold. The draught' somehow al?.
?a ways will bo blowing on,their necks." This
Id is the reason why 'we don't bear of fathers
in Ta**o#?t Kilt <K>nr inA I T nfln f u L-o won
it- round St. George's church and show youn
whole scores of "mothers in'Tsrael." [Laughter.]
True benevolence is kindness towards
nr. ihdse who can never pay bad?. I take-an
>h orphan boy and tfring him up?I can get
y, my pay out of his hide. - But to take an old
!B- woman, so far as this world is concerned,
e- there is nothing to be nAdo-'oiit of- her.[Laughter.]
?
if- * ? - - <
i; A, Bachelor's Defence.?Bachelors
n- are styled by jnarried^mon wbo'bavo put
their foot into it; as only half-petfected beir
ings, cTieerless vagabonds, but half a.pair of
y? scissors, and many other titles are given
'd them ;'w*liilo on the otfier hand they extol
ot their state as oiie of ?uch perfect bliss, ^at
le n rlinnirfi from ('iirlh to hfinVcn wnnhl h?
)t. somewhat of a doubtful gooiLv If th?y are,
us to happy, why doii't th'ey'enjoy.tl><{ir h*}*
is, piuess'aod.lipid their tongues about it ?
ey AVhafdo h?lfthemen gat married fort
;? Siuiply that may have somebody, as a inhrre
*ied map'once'said, "pull* of their bcota
r*. when tljejr are a little balmly." 'These /efc"
ht jows aro'always talking ofthe loneliness.' of
!w? bachelors. Loneliness, indeed*!- Who is
ofe* petted to d^ath" with rgaixiageabltf-'tfatigh^'
nf tere 1 Ainvited.tp'tlijp tea*-, arid to opening
t&L punics, and told Uulrop in just whip
eoijvenjegM^^^
?0, iD,dover ^all his^dayaf(<tfri&when he dlei as
;e- ^o.jvers strewn on hja g%^J>y tWg'fK
wjfc.coulcfq't entrap, bachelor.
nil -WliAofKHwc flAu^Ar? tliA
'.W. '' i; \L * itf|, p iro>? |
"Hollering
In the good old coilnty of Han5?j?|tea??SljjPr
irginia, lives a somewhat eccentric genrcH|B^
ell known throughout nil the country . *- . ,
ound as "Captain Sam P -The f .<
aptain, in early life, received a classical
Jucation?and his chief delight, from that*.
me to this, has been to interlard hia'cori-> 'Vv
- r.sntion with Latin quotations. Ilisreper>iie
of classical phrases includes not only ,'v *-.V
lose in common use?sucu as ipee umu, . ,
pro bono publico" "Hine illce luckrymce ^
':c., but many others which he has* faith ful?:tj
remembered since the days of his boy-;'
ood.
The Captain, until the ri?e of the Amerian
parly, was an uncompromising, true
lue,* tooth-nnd-toe-nail Wliig. Many are
lie speeches he has made on "election days, mister
days, and other occasions where fun V?.
tid frolic prevailed. Ilis famous apostro- 1 -;\
- ? .1
die to "Uie immonai nous anu mu utvmcr
31ay," always accompanying the mention ot' *,'/
he hitter's name with the classical panegyic,
"durum et vcnerabile nomenhas been
leard and enjoyed by tlio people of his sec-'
ion of the country a thousand times over. *.
Dut when the American party was organ zed,
the Captain steadily refused to iljine.n
NTay, he became.so much disgusted that ho
went over botlily to the Democracy. In
)ne short month, from a flaming Whig, be:ame
an unadulterated Democrat.
In the Captain's neighborhood lived an
ild iron sided Democrat who had, many a
lime and oft, engaged the Captain in politi
> - ? i- T1? * v.
3HI IUIKS Hnu Ul.spme?. Alley iniciy uici(
3ii public occasions, witliout coming to
kvords and often, to blows. It so happened
that when the American party made its appearance
this old democrat?whom we shall
i:all Mr. A ;; was one of the firat to
join. : _ 'J.
Soon afterwards, our two politicians met. K *
fit "court," and, as usual, hung each other- t<S,'
for a political talk. Neither was aware of
the c hange in the political relations of tho
nthcr. After a while they found each other'
out, and both became mad. From words'. v
I hey came to blows, and in a short time,
Mr. A?: had our friend the Captain,
rolling in the dust, and pummelled him nt
every turn. ' .. -A $
The Captain made violent efforts to "turn
his partner" and get on top, but without ef- j..
feet. Finally, when beaten almost to a jelly,
he exclaimed at the top of his voice and
iu his favorite tongue, "Ehtv.! jam.satis /" ' * *
/M "* 1 i,.
"j^neu! jam sans i - - -^
Mr. A , unfortunately, not gifted ,
with a knowledge of the Latin, continuedtq "'J?
pummel him. Hard and heavy fell bia
biows. r .
Ehcui jam satis!" roared the Captain
again.
But again Mr. A? 's fist fell upon
him with the force of a pledge-hammer.
"Eheu ! jam satis /" finally shouted the .1
Captain in an ngohy of pain, ' "for God's ,
sake, Eheti! jam satis /" '
At this juncture a gentleman .jvho wna.
looking on, exclaimed to the* bystanders,
"Pull Mr. A-??-off?Captain;Sain, has V !
tattminrlt1 nil II Mr. A off." \ i
? J J" r L.
uN-n-no he ain't hollered n-n-nuff, said *:
Mr. A fetching the Captain a peeler , . T
on the nose, "but he's g-g-got to"boiler n^rinuff,
though,-fore 1 am done with!" hiinjj^V \ V
and again he rained jloxvn the blows upoh.^ ',
the unfortunate Captain.'
"Pull Mr. A???off,"said the gentj&^V
man agAin, "Cnpt. P-?=-?has hollowed .
'enough,'I tell you." " K' '
" W-w-w-wheiv?" asked Mr. A , in- %$:
credulouslyl /"
' Just now," replied the gentleman, *'lie
hallowed enough in Latin." ?
4,Y-y:y-ye9," returned' A???-. "but he's .
got to holler n-n-vtuff in 'Merikin Ifo-fofare
Pm doj\e with Aim /"" - >
A ml, sure enough -the, Captain had final- ;?
ly to express his satisfaction in vernacular '
before lh6 irate Mr. A - .?would let hub'
> v m t 9 > v, '
A Stupendous' PRojEdT^?W^exjcnct
the following Pari! ^correspondent
of the N^,^r? Tiroes*; ->; < ;?* , -7*
"You will see jjiylbe'lateFrench ;joornaW!^fc?f;
full details of. the plnn for *a^auyn3aHne'"rai lroad
across the. ch/ipliqLb^w^fen f'rjinpe and
Ericfl^p'd-^.a pUn yi^bich w^iibjr.^ tftfrioualy
talked 'of on bo^h, vsidear ofthp Obsqnel. ^^
The projectors a F^etibtnn^-aDd'Vhi^planr'
?wljieh is perhaps t)?# tW<jnt?e^h
same object?js regar^t^.wor^^^W'A^t;
rious attention. The di^snoeis twei
miles. A bridge is lrnpg^iblenm.accPjJQt. r ig
of obstruction ton a v igaiioriy,fiod iti'ejjnmo^ \
Tannol seeius'to ha*6'6ortderaj^edi^ ehw^lip
prises of a similnr character.it^ppopS-^fifj