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* * ~ 4 'hA W ' k' , I' * * * * , 4 * tr - v# !.:'i!1' "L^'i.'!!) jj.'. .... j jl."*. 'jk-LipJu*'' .< l. : i iuAJ-'bh .iig ua .*..:*. M ;>. .' '> j ujji^*ift!.ainfiauu it.. . .*>.> ..x'.'i-' -i i.j?jiiuj-ajj.-.'. i1.'-1 . i" i'j?'ju . hji mi uwmww MTQ TUlS'E QWN SKI.F HK TllUB, AND IT .MUST FOLLOW, AS THE NIGHT TlfR DAt, THOU CANST NOT TriKN BE FALSE TO ANY MAN." *' ' * m' 5 ^ s y^-A ' * ,J*4 1i. * N 1' * * *1 v w ' * ,! 4 ' v ^ ^ BY ROB'T. A. THOMPSOlf. ' PICKENS COURT HOUSE, S. C. SATUBDAY, DECEMBER 12, 18?7. VOL. IX NO. 8?. SSLEOTK? S-oKTKV. t= f j , \ .?. Nothing Lost. 7 >w Nothing is I.<wt: tho drop of <k'Vr... WHlpn trqmUlos iit Uic loaf and flowevi*, Is but cxh(ilc<l to fall nnrw, In euHxinor'if t blinder shoitor? l'brohntvco io rail \vith5n tlio tj'rtw That fronts the fcliti at fall of dny-* i? - .. * vrcitHuco io .iprvrxio in uie uovrOf fountains l'ur u\v;iy. Nothing 1* lost : -tlit? tiniest scud; Ilv wild binl* borno or bi*ccxe? blown, Finun something .suited to its nce<l Wbcrqln 'tis ijiiw;u?nd grown. The lnngungo of some household song, The perfume of Some ehciMshed fjower, Tliougli gone from outward aenso, bfcl6ng To memory's After hour. Fo with our words ; or harsh or hind, Uttered they'rd not jforaot? Tliny hove the intlucrtce on the mind, ou but {wrlxh not. Ho withour <lcedak for good or ill They hnvcu poyrcfMp'irecuwloifitood, Then let u.iWc oft? wltur will . To fnnk<> tlicm rife -will* good. UU'LVJUJiL' -' LJLU-1 Legislative Proceedings. The following elections have beeti matfe l?y the Legislature : Jlonry Trcscptt, Ilo?* J Ister of Mesne Conveyance for. Charleston. James "NV. 0ray Iaijs t>con olccted INJhsfbf, and gliomas J. Gautt, Register, in Eqiiity for Charleston District, Win. Lavali, Treasurer of the Lower Divlnion ; R., G. M. Dunnovant, Adjutn'it find Inspector Mcneral; W. A. Owens, Solicitor for the. Southern, ftnd If. Mctvcf, Solicitor for the Eastern Circuits; T. Stobo Farrow, Cooi-" mi.Wlohct iu ErtUltV for Snaitnhburr*; (J. .7. l'nttctfoti, for Chester; V. T). V. Jinn, iwoti, for Orangeburg; K. .T. Pa van t, for Hcaufort; J. 0. Craig, for Chesterfield; J. A. Wallace, for Williamsburg; C. 1>: Kvantf, for Marion; T. 8. Cooglet. for Clarendon; J. II. Witherspobii, for Lai?raster; A. O. Norris, for Anderson,.. RESOLUTIONS AH TO THE BANKS, BY MR. M KM.MI NO Kit. 1. /tctnh'Ctf, That the issrie oTNotes as currency is a privilege granted to the Banks upon tho implied condition that they will rcilccm Kuch notes with coin, nt iho pleasure of the holder; that the failuro to perform this condition justly forfeits tho privilege, and should deprive the Banks of the profits arising from huoli issues; that the Act in relation to suspension of specie payments Hinmlv ViVivntlAii -X..J r"",,,v" in tho for,m of a penalty of five per cent, per annum upon tho circulation of each ' {suspended Bank, nnd tho Stato should iufihit upon payment o? the Hanje, so long nd tho Hanks Hnall oontlnuo to refuse piiymetit in specie. 2. That tho paying out by the other i Hanks of the Notes of the siisncmlml 1tnnl?-N I i' 18 in cffect the issue by them of A depreciated currency in the stead of th#irown notes, rodcomable in coin, and is a plain violation of law, tor which proper proceedings should he instituted by the Attorney General and Holioitors. 8. That the supposed convertibility of Bank notes intd coih nt the pleasure of the holder has hitherto beep relied upoii to so cure meir use a? cunfcnoy; out tno. suspension now in existence exhibits the rail* uro of tliis security and renders accessary a resort to increased securities. 4. That oriti of th6 chief onuses of these convulsions is to bb fouhd in the ttowftr to expand and Contract the currency, which is exercised at pleasUro by every Bank of issues, artd tfi'at thp iflrst step towtirtls firsts vcntion should be'to limit or withdraw "this power. ft. '.^hiit ft withdrawal of the potvor, WOulct involve th6 adoptloil of an entire luetnlid currency-, or ft circulation of the Hank note? of other States j both of which s^hqntbs being (jbvioualy impracticable or inexpedient,' wq sue broiight to the nlternnilve of providi?gPtanc efficient check.? and limitations .tdWBmiOB CiiwirtMav. I). Tliat. thf. c chovkn, one of tlic most fcftlutnry l? to Vie found in a reductioU of tho tun ounb of p.?pf.r circulation, by filling thO cli 'iiiirls 0f trade with the smaller coins'; and itiiwnuioh f>H pnmSr of tho saint dcnomiinntlOnH will nlwuy# dwpfaife coin, it hcCbmCB ndooJ-Katy to \Vithdriiw from clvcu ^ntjou uunk note.1* ot the smaller dfcuominaf ions; thftt to this ehd All tho Banks of this Hta'co should bo require^ to withdraw from circiilntlAn within two years nil notes under five (lolltU'H, am] wUhlu throe ycurs alf notes under ten dollars. '7. That to riinke thin men sure more feetiyo, it should bo jiroposod to the neighfaring Btnte# of Georgia niid NoHHtCWoli11.1 ?o nluna' ft like niHfi'irtlr*?! on flirt 5tf?ni/w I of their Jiiiuks, ; I 8. Tout tlib jTnnri to a paper cuyriSyiiw tfoh M it, a?| early oh phcmhld^^KHmtp'i'l fenturca of a I eilV/cney in '.vhie.h the most j fyhort^it avo aoftip^cliangeablo yal;?o,' an I coninariittvo fr^rflom from fluctuation. I 0. feature, l<> wit, ton nctu-1 R nl oxohnngcabh value, may lto s? . v.-.cd by' requiring dwi Jtank ji> addition to the pro. vi;non rcquisUc to tetWm 1(h i ; B. to doponita a? collateral Hocimly for their redemption, nn equivalent mriouht of Public 8tovl<?; and tlm a&ond featuro may,be rNecnfcl bV"lirni'Jnij; the total iiinonnf Hunk rWR* Issued, to that *nm Hvliwjh oxpertonoa W settled tlK? epilation f which ttn<!ev i?nykjifcuftifajjliooH w rotorim ic'uri*cnf in nnf ^taW; tbnfoneh HtmKisb'ouM j fco pcirraHted& ifl^iio ixiorc'tli^n itjmt^-' I blc part, of this ;mni in - . . it* capita], fixqept 5h0 QT cy?u to Iifti dpi*! aMwirtC wst npnrtTof the *caefttytiou of Micli'bcmue. , . .a . 10. That to carry into effect the last nn mentioned nieaWiire, the minimum oircula- to ti6h of the Htntc pludl bo ascertained ns of norirly as practicable, and ouch Bank shall tii substitute for its pi-cscnt ia.suas n now cir- II oulutiou to the extent prescribed by tho of last Ilesolution, to bo countersigned by u ar proper officer .upon tho deposit with him of ar Stocks or Bonds of this State or tho. iTni. n? ted States, or of the city of Charleston or ai Columbia, to nn onnaj market valao with vr tliC new circulation by the Hank entitled to C\ the same, which deposit shall be applicable ec to the redemption of the issiies of each lil llahk in addition to the securities already tli provided by law; and that further issues pi of Ihmk note# shall be allowed to any Bank gi to bo. conn torsi ?r lied as above, nnon thp tli deposit of rm equ^l sunouut of coin or bill- tit lion with tho siuno depository, pledged for tl tlto redemption of Pitch additional issue. I I 11. That n free competition for the use of of money in tho proper means for placing at at their just value the 1'ates of interest and of exchange; that to this end the restrictions n< now imposed upon tho rates of discount ta and interest ohargod by the banJu should A be rcniovetl from all actual specie paying p< Hanks, saving that each Hank ho required to ndvcrtiso its lfito.s atul to chutco them of uniformally upon all dealers : and also that lc no Hank shall divide* more tlian seven per C cent, per annum among its Stockholders, t! reserving besides if it sen fit, a fund not cx- w ccedinpt ten pcr,ecnt. upon its capital, to fc pay losses and to nrovidc for regular divi- in ? * u demR 12. That thcHC Resolutions be commit* n( ted to r*? with instructions to report pi tho proper measures for carrying tho same hi into effect. fa Co). J. A. Kaalov introduced hills to inoA?1<.AVA4<1 tlm ?^0o..V..^n n.... r' ?. vv?|/uni,vi 111 vi r hiomuiun j ui iijiiivv; \ \llil- Vil punyand the Cashier Valley Turnpike Com- w pnny. pi Mr. J. ir. Ambler introduced a hill for a the nppoiutment of a Magistrate at Tunnel ti llill. Col. Knnloy introduced a bill to rcduto the compensation of tax eolloctor*. ^ Also, presented the petition- of citizens n of Pickehf, praying the incorporation of a ^ church: ^ Also, the petition of citizens of Piekeng, Iv against the extentiion of tho limits of the ^ town of Walhalla?which was severally ro- ai fcrred to tho Committee ou Incorporation. w Mr. J. A. Poylo presented tho petition of citizens of Walhalla, praying the cxtcn- ^ sion of the limits of the town of Walhalla? *1 which was severally referred to the Com- u miUco on Incorporations. . 1,1 Coj.u.M ju A, Ucc. I.?In tho Senate, Col. 1 Pickens presented the llcturnsof tho Com- ' inissioiiers of I'Veo Schools for Pickens dis- 01 trict. n The Semite passed fir bill' to discontinue ^ tho gtoiuting of vacant lands?-ayes, 27 ; nays, 7. 11 r.. ?1.A i> ? ai> vn*> i muni' ui m.'|;n,ii:iiiiii ivi'F, itjr. Elliott nddresped the House in favor of the " resolutions offered by Mr. Pone, tis a tribate of rcspcct lo the departed statesmen*-- P Chcves, Butler an4 Hamilton. The rcsolutions were unanimously adopted. '* fllpssrs. Mom mi tiger o'ucj (^Irogg made ^ lengthy ?poe<ihoHon the bunk question.? * The foriuer gontleman advocating his rcso- n' lutions, and the latter speakiug on the sub- 11 jcet generally. DiwkShikk 2>?-The Senato to-day pass- l. cd a bill repealing tho law against usury, . after much diBOussion?-ayep 21, nay# 18. A bill giving coinponaation to Coiumis- 'j sioners of IloadH, ami for other purposes, ^ was laid on the tabic.' , In tho IIoupo, after the tran etion of j sonic unimi>ortn:U buHinerf!?A Mef!sr?. Wha ley, Hadborry and MqCarter addressed the house on the banks ami banking. A message was received from tho Sen- 01 ute, informing the llodae that that body V granted leave to amend the resolutions, eoncornfng tho death of Gen. JlUrtcK Hamilton. a. The following aro tho redolntiong as atfop- * Mid by both hoimon: ^ W/iri-cdfi. Dnrinor tho nnst vonv thn nhn. pie of South Carolina have been called upon ji to mount tho loss of three (>t" the ntcist erUl- ? iVerit of thciv public inch, It i.? but fitting ft that this Lcgi.-daturc should express its own c, fcclirtjiAnnd tiro sense of the people of the 8tnte in'Vlow of this public het^flVtbicnt ^ with whh-h it hft? pleasod Obd in his insert!tublo Wisdohi tp visit us. In the death, ft] lir.-t oF (Micvoh, and Ihon of Butlftf, and fl. now of Hamilton.'the Commonwealth baa tf .1 _ i i i- < ' * uAjicri'juuuti ii iixw nui> mi jnucn oi service ns of worth. They wore till bf .fldvniiccd For ft long time previotia to h'iR death, t| fifirtji;don Chovcfi lipilbceti from choice, rtttcl c) the fnflrmldortof advancing yc;*M, entirely removed from the flidtorc ot hctivc pnrticipotion la political affaire, but feyfta in his p; oia ugc ana hi iiih retirement, tile MtegVlty b1 of iiiH ohrifiictor and the grand propftrirtiona of hto nmsjiir? intcllovt rotwinetl their blen- ^ dwl nymmetry; and now ah vj? survoy \m H1 finishedlife, it Jh difficult to dotornijiio in g, wlini light fclio piqture in pmootwl in it* si most attraotive foftturcftj whether qh the ,.t,)a ?,i ill i??i ? '> illHV UU*VWl" MPV II.U '6'lipUPJtt *J\lUgO? " ov as tho *tato?mifln ofon'. fgcd arid libera 1 vJowh, who, in his rtarliejf political life oa- u jSoumM raetaritrip of fho oppressed ami ef?p- (\ tiVo #r^Wia^S|p tho prittioof bin nmtshooih' T retorted tho country from tttcfti fln?nci?i U (Hftlrtt-s by nn abld ritlmjhisirtilion of tho af- ^ frtiw of tho H.itikof tho Uhltcdjfttriteb, an<1 (\ iff hi*old rttffl Vtfotfliiitriird, ffifSftoQtirftF thft'lnj?iml Honth. Of Air- fl it. Mrvn r^Aynn n, i* uui RCW^IHRiy licrc to Kjprstfc. lie itift Nq <w recfcotJy ^ >. 'v ''>: ?-. 1 f ' 41 * JMSltivu^ 1/.W.V , jfe ..& , ^ -J II >1,1 II ! 'Ill, IM .1 _ II . III nongst us, and was too familiarly know those who honored him with the highe, Rocs within their ?*ift, to require at tfy mo ft recital of hid virtues and Ins Wottl in recent intellectual conflicts on t' the Sehatc 6f the United States, and h dent devotion to the State, to the Sontl id to thoh* institutions will illustrate h lliovcnee to duty and the faithful nerforn ico of his public trust*; while too gOni uViuth of his benevolent, nature will kcc rcferecn the affections of those Who en jo; I his confidence and ostoein in privai fc. Hut while wo mourned tho loss < [Opo distinguished compatriots, and woi eparing to wreath a ehaplot for the aves, how appalling is tho intelligent' iat .Tames Hamilton?the leader of 13 s?the adventurous and gallant spirit io associate of t.'nlhoun, ami Mel'MilIie, an ?yne, and Trumbull?in tho enjoymci 'health and a yet Vigorous coiihtiruticm< midiiighf-r?by n collision on tin* wntei 'tho Gulf of Moxico, liaa gonoiiown L jath its wnyop to rise no more. Lot a en in be drawn over tho harrowing Kccne.nd in consideration of this afflicting di msntion of Providence, bo it? Jir. it Resolved, 1st. That in the deat Y.nnm1(\n (1liovo? Anilrnw Pi/%l'ony n? r And James Hamilton, the State of 86ut ftrollna has been called upon to mottr ireo of her distinguished souh, oaeh < hom in hip day and generation had po u ined good service not only to tlic Stat i which he lived but to the whole countr 2d. That, while we express our sorrb ; this public loss, and record ouv high a reciation of their private worth, we cann ut. sympathise with each of their atfliot( milicK 011 their melancholy boroavoinoii 3d. That the Clerks of the Senate or ? the House of Representatives be ehargt ith the duty of transmitting to the re sctivc families of the deceased Htatesmecopy of this preamble and thesd re.sol on?. , THK SOUTH OAJIOU.VA OOU.KUK.?TJ rnufonu af Tnwfihifi/?n ah T<\t/l'.?v i*x? ing last, elected Charles E>. Venablc, U University of Virginia, Professor lathcmaties and Civil huginoeriug. Th rofesHorship had been fdlcd by ex-pro? cut McCivy, during his adminifctrntio' ud during the present torm of tho Coll*}} as temporarily supplied by the Prot'esso ucoutc, who attonded to it in addition icir regular duties. The professorship i lislory and Political Economy-?to wine i .former yearn, Dr. Liebor gavo reputatic nd renown?-was transferred from M 'album, who has discharged its duties sin< ' v J I \J X I VOiVIUUV UWII^PIIWI. iiu VI l' change was nmdo in the Faculty, whit ow consists of the following gcntlemei lessrs. Longstrcct, J?aBorde, Rivers, ,Tol icConte, .Joseph LcConte, Vcnublo, lie olds and Barnwell. At the samo meeting, the Commit t to whom was referred, nt the meeting ie Board in Juuo, certain resolutions pr osing an essential modification in the ed Uional system of the College,"' begged e excused froju further consideration 10 subjcct, It appeared to them that tl ollege would resume Its career of u' ofi ms, and render tho proposed modificatioi nneeessary?hence their request. With all deforcneo to tho opinion of tl igniy esteemed genuemcn who couipoM ?at Committee, wo differ ni (oto ,vji lOfn. Although tho College may aga roppor?and under tho administration udge Longstrcct, beoomo a flourishing i itutioo?-more is noecsHiity. Tho \vau I tho people?the progress of tho ageiko demand a University?a great ar .l_1_ i _ _.V! V il. _ LI, . . / I uuju iusuiuuou 10 wqno inuu oiaio v;c igo shall bo sVibnemont, j jst a? th<* Aom ny is subsorvient to th'"1 Oolloge, and tl jhool to. the acndeo>y. We rcgvot tin fr. Prefcton'd plan won abandoned. 'I loption would hAvo won for him?'Km as, now almost on the verge of the gmi .new laurels, and added another leaf ib tl iiaplet which an admiring State linn wove ? adorn his brow. Wo know that M rcaton's desire tor the prosperity of tl ollctre, has nlono caused him to ttive u iv tho wresonti his lotig-choviHUcU liopca i averting it into a University. Aru>tlu [.aeration will curvy uut t!u> plftn y that truly great man. Tjhe Oollogo wi u't bccrtmc a University?patrouued I I elapses of the Commonwealth, and n vilfn^ Awi? n tltrt'oAfiAiY^ r&uuij^ Mvviiiuvn iui ii vuy^uu^ii vuuuuiv > th6?c who dcyifc it?rind preparing otl 1t for the various utations in life to whic fay'mny ho callcd?without the lnrftria < mo'to paKs through n proscribed C'ollej jVricu!urn, ? >%ulhcm Light. -? mm* Oi^crs^AtJ, Ndv< 24.?Privato dospntoh ublibhod this morning in th?J tkMMrtlerei* ivij Hortjo partieulai-H of tUo bnfuingof tl cninov RnhibotV, trlion near Napoleon,Ar tthetfftui tboro Avoro 5} 17 piWHCogets ( Safd, trieb'nling a large numbe'ref oonl hor irtft on tho (tooie. Th() wind was blowing i?lo rrhon tbe tiro was dineOtoffcd, Rnd fl earner was soon onvoloped in flntuM. *?>: Tho l>oat was run ashora a? noon m r?o*i lo, and 9I10 then byrnedJo tlie vyntcrVoda The otgin of tho firo to attribafefito an i mdiflry among tWo deck, pawenftflt*' The tutrtl lt>hs oflifo i# o^timuted at sovft -five l^raon*. All thti <?fficera wore nave he ?to?mor Mmpohphtt# #\?m >ovr Orleau might thoso -who MilfM Mfamhl monsr thWtii ifto ThoftiTO Madder*. if. 1 ftnd nrtcl wife )tiliuIolj>hiit. > . v.Tlic tout's JxxAs hutino }>iW>n destroyhl/l ?i of |l?o lo^l Mtn bo ArfjiJfbw^ XHUfii if ruij$hty t>ud will previa!. ? - . u Bank of the Stato. ?t. To' lliA llonornblo tho Speaker ami Memis bers of the JIouso of Tiiprtstintalivos of i. tho State of South Carolina. >r ' 'llio President nml Directors of tho Bank ip of the Stato of South Carolina herewith Rtib , mil tl.~ A Id. . . ' . >, urn. iiiu annual ouuemuius, which I'Xliibil ia tlio condition of the Uank at the close of i- tlio fiscal year, tlio 30ih September, 1817. ill Tlio profit!! of tho Bank have amounted to th? sum of two hundred and seventy-six y- thousand seven hundred and ninety four to dollars and fifty-nine cents. ? From tl?c60 profits wo havo re paVI, to the holders of Stato ir Hond* hold in Europe fur it) (li^v ...... ^ Ift Of I i', ivruov, mu mini Ul ^ 10j004 UU jr To lioliiom of tSix por ocnls, i.?? ph?h1 undor tlio Act of 1838 (I (Kiro Lonh) 40,30100 it We have passed to (lio credit ? of tho Sinking Fund ll?e fur ra thcr ftinn of 181,808 80 t- , ? t<_ MilVmrr tlio nnrrrrf?rrnln r\f i')Tlt InA r.(\ Vif l 'I'- \I, t ./-? u u I ? Wo nave redeemed tlio following pors lion* of tho Public Dcpt ftinco tbo 1st of i October, 185G, tip (o 1st October, 1857, of | li iho present year: t- Of tho Three per ccnt- Slock h tho sitin of$'21,254.-ID,at tho ji cost of *13,390.32, which aof nioi'nt is to bo charged to v? tho capital of tho Hank $13,000 02 Of ll*/> nnr /.onlc wi??Al? Ka y. came duo in 1859, we liavo w paid 37 50 p. And of tlio Five per cents of of 1 S I8 (Fir? Lomd)- which will id become duo in 1858 and t; 1808, wc have paid 08,178 24 ,d >d ' *81,000 00 rf. A portion of tlio Bonds have not been T .i~? ?... .1.- .'ii i II, lyvvnm IIUIU ul'HUUII. IMIL lljcy will UU i\. surrendered and cancelled as soon as received. Directions have been given lo transmit tliem. 10 In accordance with tbc provisions of tlio q- Act of the last session in reference to tl>o of New State Capitol, the Bank lias continued 6f to tnako advances for its construction, and is at dilVercnt times bas placed nt tho disport sal of the Superintendent sums amounting n, to $286,5'2S 89. As agent for tho sale of ro lllA feiv nnp m*t\f W?A/iI/ to e?l lw.? jv %?.v y I wv/.. v? ?/vwvj rw, nnviiv/1 iaui IV UC r.s Untied lor coiiBtniotion of tho (Jnpitol, wo to linvo disposed of $188,205 of said Stock, uf for the sum of $177,752.41 li, and interest from duto of sale m to date of issue 1,080 45 r. ue $170,732 80 h- We have also disposed of forty ill two Bonds issued under llio l : previous Act which lmve pro in duccd licit 40,150 52 y- ? &'210.880 41 co Tlic particulars of which sales have all of hcen reported to tlio Treasurer of tlio Stato o- These sums have boon deposited with tlio u- Treasurer of tho Lower Division, from to which he has paid tho drafts of Sup?rintenof dent, eountcr?dprned by tho Comptroller ic Oeneral, to tho amount of $'217,370.37, to il- reimburse tho Iiank for advances, leaving is the l$ank in advance up to tho present time, $103,702.37, as follows: V .1 - J- ?--2 if auuuicca nuuiu <15 ri'|)urn;u :d Inst .Session . $124,613 0$ lh Advances made during tlio prcs in cnt year 2SC,b28 89 of * n- Ml 1,141 04 t? Of wliieli wo linvc receiv?d, as ? above stated, on the drnfis of id theSupcrintondantand Corn >], Irollcr Gcnoral 21 <,379 67 ie Leaving in ailvnnco lSthNov. $103,702 37 at TI?o amount of Stock nuthomt? eJ to ho i tailed under tho Ao' of 1855, wns #250,000 00 ,-e Of which therd has been sold i&-,205 00 10' ' ? ?* ;n Leaving a balnnco of $01,735 00 > . I Of UiA linnrls irtsucil titular tho Ac.t nf 1 io j two hundred and threo of one thousand dolpt i !ara each, were received from tho former of agent, of which forty-two have bo^n sold, cr leaving in our possession one hundred and J wjflv-pno I^hds'ofono thousand dollars 111 each, amounting at par io one hundred and vu idxfy-onc thousand dollars. Tlioso Bonds f. beintc less available than Stock, it would >0 bo advisable to authorize the Issuo of Stock $ in thuir stead. i ? ii, The interost on tho bonds "luod vdut tlio Act to make subscription Io tho Bltte jC Uidgo Hail road not having, been provided 3 for, and tho Ti twsurcr pf Vho Lower t>iyUion not haying been directed to pay tho 6# | aamo out of the Treasury, the Hank has l,? made a further advantfo to meot that domand, which, added lo the ?t*m reported *' last year, makes on Aggregate of $46,610. lt_ Wo request that $omo 'provision. Uj made a to refund the Bankforithe?c advance#. Xta K liank v(w the worp induced lo pay the in 1 crest on tlx? npovo l/Qnds, a? i\oj?-|>oy"* menV would hnvo materially injured the >?' mlo of iho stock iswed for constructing tho ,v Now Cftplfol. In cotmoolion with thn?e ndv?t>coft wo would, bring to tho view of t}r the Legion', lire, the fact, that hii instalment i?, of ihe Fire Loan Bond duo io Europe, the balance pf whiwh rtmpunts lo nbottl four . hundred thoiiHniu! dollar^ will bo phjauT* fn T,riu<lo<n oiv tlio lrt bf Jtilv next. And we tvoufd' furtlicrr to lU fiict t\?ftt L" the ta the Sfrtfft by thus Hanlf, oo (ho*6coffnli?, iHftbuiit' now tq about fntjt ^fiodrcd Rfrd tUirtv'k>?n ttiou??b<I 0^7,000). 4* It bccomcs our duty to state that during, the late monetary pressiu'C which pervaded this country, it was determiued by tins Board to suspend the payment of specic for it.s liabilities to depositors and bill-holdere. The Hoard are fully sensible of the objeetionH which exist to n resort to this mensuro. but they believe that the oireumstaneo under ,which suspension took place, wcro cnlculuted to lesson the objections that may be generally, urged against it. Tho extraordinary demand for money to which we have referred, was not the result of operations origiqnting in our community, or wjth which we had any direct conueetiou. ^?or was there reason, from tho condition of business among us or in the position of our mercantile houses, to awaken npprohension of an annroncliiiMT erisis. or to inrimw n I t t tO ~f - - ~~ " "" * ' clmngc of policy in the management of our affairs. On tl?c contrary, commercial transactions at tlic South during tho past year Unci been safe, if not largely proiitablo, and if there was no surplus of money, there was no special demand for it. The monetary difficulties originated in New York, which, e _ ?.?_ / ? ' Hum ii variety 01 causcs, nas necome the centre,of trade in the United States, and in also the jioint from which our J?anks usually obtain their supplies of coin. Ifow far these difficulties had a real basis it is unnecessary for us to inquiro, but there is reason to believe that the stringency which eusucd may, to a considerable decree, bo attributed to mistaken views and unnecessary panic, producing tho very evils it was desired to avoid. However that may be, embarrassment in New York soon vibrates over the whole country, and in a greater or less proportion, is felt by every one directly or indirectly engaged in trade. The sudden contraction by the Banks in that city to tho extent of more than thirty millions in a very short period of time, was, therefore, attended with the most serious and wide spread consequences. Within their immediate sphere, the usual mercantile accommodations being withheld and in I their stead ihe payment of existing obligations rigorovsly enforced, the ncecssary j conscquenco followed. Sacrifice of all avail auiu hhssuim were resorted ro ill tnc ouort to sustain credit. The incnnsof many houses which have not suspended have thus been greatly curtailed. A large number of houses of extensive credit and capital were driven to suspension or to insolvency; factories were stopped ; numbers of tho luboting population were thrown out of employment ; all k.nds of property fell in valve, and confidence rronmllv w.is imnairiwJ ? - - - ---- o J . [ These effccta of pressure soon diffused their influence elsewhere. A large amount of hills running to maturity were not paid.? Upon these bills i*elianee had been placed at the South os a fund with which' to obtain the necessary supplies of specie and to meet the demand for exchange in lieu of coin. The disappointment arising from their non payment was Hidden and irremediable. The sole of sterling oxehange also almost entirely ccat>ed, and what was sold was disposed of at very depreciated rates. The means of the banks holding exchange were thus diminished, and the price of produce greatly reduced. This was particularly onibarrassing, for tho time had fully arrived when large portions of the crop were usually brought to market; the sudden full in the price arising from the difficulty in Belling exchange would prevent its coming forward, the planter being unwilling to submit to reduced prices when the rate in Europe justified tho expectation of an increase. The lateness of the season, at which the crop matured in tho present year, acMcU to tlic other causes which retarded ito appearance -in tho market and increased the embarrassment of tho period. The contraction in New York was,eoon followed by ft suspension of most or of all the banks in Philadelphia and Baltimore. The demand for money became stringent bfcfc. Keceipts immediately fell oft', and in a short timo payments on business a* well aft accommodation paper almost entirely Coaled. Instances could bo addueod whcro parties possessed of oil the (substantial elements of large wealth, except money or coin, wore unable to pay even incohsid^rp.blc sums on their note's. It bc'cmuc necessary fur the banks to extend the paper they held, it bora" tiiilh'ifehl thai ptotCMt ^Vvuld be hitfFfectnal an a means of got-urinc1 navment. The I paper hold by fclio (janlc.s being (o a largo ex ton t diro6tly r-onitocted with the ftgrionlturul intoroHt, itoVoUc.tion wafl effected by some of tho uiroUmstnnocs to which wc havo alluded to n degree much flf-cntcr than ordinary buHinofis paper. It therefore became necessary for the Board to determine upon the conrse to be purged. They bcliftved that fluflpennion would take place in pension hero, ttrotigh <fefi?Ved, cotlld bo TilHlimtcly avoided; nnd being nware thnt without, collections from their debtors*, and the uao of other juwpU, it would he impossible to ujcct the demand for coin} and forpnocfofj fhal ?fi effort by Uic bank* bore to tfftfbrpo payments and r&ilfae ttnoft asset*, the same. dishstfotlfl yemtlts Voiild \>o produced here vrhlch had been experienced elsewhere, the Board determined that nftor the use of i* oortain amount of ttieofiftUn<i?r our.control, it would bo mofit expedient to nuspend. The* accordingly pn^ed a rogoTutjort to suspend on thelOth October^ The ftoatd Were grafted thhV (tie ei^uWlton of tftoitankx in thin Hty, nnrl of itiin Tt:mk j In rwHivulnr wouM hot bo ftusWially af^rt-! flrtt mitwtflnt?*1 WiwH?1 ityou iWudh the'irT re bufec<l, kin u?v ' 4 4 '?.* . i 4 -j% " ' "T1 1 ' pic pari>|iis of means held l>y each J}?nk uljovc all it? liabilities, ami the obvious fuel that the Hanks hold to the community tho character of creditor* to u much preutcf extent lhanthntof debtors, they felt assured would entire confidence to tho nomers oi wear obligations on tneir mocui'i-> tjT. 'J'lio opinion has just been juRtitied. The paper of this Bank, of which wo ohu speak more particularly, :n received without hesitation, and it has been the means by which portions of the crop has been brought to market, and cotisidcfablc pur.chasca imulo of Sterling Kxchango. The cfl'eeb upon the price of produce lias beoti , manifest. jgCotton, which foil hereto eleven ecut.s, rose immediately on suspension, and h?t> strengthened and improved ninco. W'n l>c?icv<? if In linvv liiirlior 1inr/? flinn if .. _ r- ? ? would have been had uic contraction bocu continued. In support of this opinion wo may refer to a comparison between the pri- r ces at Now Orleans and Mobile and at Charleston. Tt may be said tins Increase of price is but the result of, and test of, the extent of depreciation of Bank paper, but uv viuim vii 10 to nut/ tuv; iui ll(U pnr cecds of profh^oc sold at the increased prices, are available to the planter to the same extent as before suspension. It is true that for remittances to the North there is a difference in the rate for sight exchange, but. tho coming in of the crops and free sale of produce will, we believe, soon lessen those, rates. It js certain that no failures havo taken place anion? us: business has not been paralyzed to the extent experienced elsewhere; tho great depreciation of all kinds of property, arising from forced nales to raise money, has been in n great mctisurc avoided ; av.d the Banks, by extending the paper held by them and interposing tiicir liability, (or credit under suspension, ) have rolievcd tho debtor portion pf tho a.,*.,, tuc. ft 1 wuiiuuui'.T in/in j;iwu f?\;iinaj. tin; j>u?H(l iu oonohiHtou Kay, that they adopted what appeared to them the best coursc under the existing circumstances, and that however in some respcct? liable to objection, it yet has been attended with compensating advantages. Respectfully submitted, 0. FtlRMAN, President. Tiib London Times, nfior commenting upon the preaout, state of trade in Ainurio/i and Knglpnd, Rays: " Hut in iho mulat of this awful stand still tho American mind continues cool,arid nothing disturbs its self possession. Tho' whole affair is taken rs an inconvcnienco, like tho loss of your carpet ban;, but not as ruin, and hardly an adversity." Cuaui.kston, Nov. 28.?Tho ship Baltic from New York for Charleston went ashore early thin morning; about threo miles from the South bar, and ban now nino *1'... l?i-i "?> ivvk ui nuivi in uk; jiuiu. xuerv js every prospect that sho will be a total loss. 1'ho ship is partially "injured in Boston and Now York. The cargo, consisting of cement and hay, is insured in Charleston. Ai.ahama.?Governor Winston, of Alabama, in his message to the Legislature^ atntes that tlio greater portion of an cnor* mous uooi nas oecn liquidated ; advocates .1 repeal, or at least a modification, of the ? ifliury laws J opposes the legation of lotteries; urges the fifippfesston of lynch law; endorse;! the proposition to exempt slaves froin sale tinder execution, (of a limited extent; acknowledges the unsoundness nf a general system of hanking, conceives it [d be tho duty of tho Legisfutnro to" require a resumption of specie payments by tho banks ' at an early perit/d?not later than May,1858;and urges tho necessity of prohibiting the issuo by banks of tho Slate. of bills of a less (lunoiniimtion than livo dollars. Exertion is tho prifro nf ni noble. life.? The pursuit of a noble object adoniK, awf clovale.% and enoblen, and vivifies life.?Without a definite airo, life ifi liko a rudder-: le.->? .ship, drifting ahout> between life and Heath, biltletett by the winds of circumslauooft, and entirely at (lie mercy of the waves. While one witli fo/ded arms waits for future ^poiiumti&h another makes the meanest occurrences subservient to a golden result. One labors to (ind something to do; the other labors to do something.? When the Alps intercepted his line of inai\;h, Napoleon said, "There slum ho no Alns tVhon (liffionlftiAM fntm lvivmiv nnd difficulties frorp opposition of friends beset him, Franklin resolutely determined them slundd be Ho diffifultieK. t Ironhiens hue its ^ottibtilnry lid'snch TTfYd to/art: [twill work; it'lfntet stlrccWcL flappv i* he who, at the suntM of life, cftn recali tho year# thai li&fc ptffie gfe'jft-foofurf t>y, xyithout bringing beforo him a fearful atray of iiniuindemi minfirtinntifu Man.---Tint few men Oio' tff A1J .most nil die bf disappointment, passion.mental or bodily toil, ov hoejdont. Tt? pntjsionft kill men &onu:timeH, oven fu?doi$v ly. . Tho common cxpvowiion, "ohokiul witU ! pulsion," Jhih little exaggerntron In it; for< rVon thotfgh not:i?ml<leoly fttiO, iKfrong^wwI slons shorten fife, f?fi;oi?fz !x>diud men often die young; weak men live longer than tho strong for tho fifcmngnno their strength, nnct (life Weak hnvc none to use. The tatter take mr* of th<Tn$tolve.??, the former dm ! noi. ah 11 is wiin tno body, so it in with i Iho mi ml and flio. temper. The utrtiffgtro | opt to Wreuk, ov, like the candle, to n??; thft weuk burn out. i im. I'RANftj.iN 8;\V* : ?Mrft itojui ewhttnj his pxwi Iftto hi j hen't?, lio one ouu take it from him/' . ' V a fc