Newspaper Page Text
VOLUME VI-NUMBER 1022.]
CHARLESTON, S. C., TUESDAY MORNING, DECEMBER 8. 1868.
FIFTEEN CENTS A WEf K
THF: STATE CAPITAL.
THE DOINGS OF THE LEGISLA TUBE YESTERDAY
THE REMOVAL OF DISABILITIES-BIP?BLICAN
CACCD8 - THE CONTEST FOB THE CTBCUTT
[SPECLVL TELEGRAM TO THE DAILT NEWS.]
COLUMBIA, December 7-10 P. M.-IN THE
"SENATE, to-day, Wright introduced a joint reso?
lution requesting Congress to remove the po?
litical disabilities of all citizens of South Caro?
lina disfranchised by tho Fourteenth amend?
ment. Ordered for con? .ration to-morrow.
Corbin introduced a resolution requesting
the Governor to inform the Senat? what Gir
cnit Judges have qualified and entered on the
discharge of their duties. Adopted.
Also, f. bill to incorporate tho Ashley Bridge
Company, which received its first reading.
Hayes introduced a concurrent resolution
that the General Assembly take a recess from
December 22 until January 4. Ordered for
The House Judiciary Committee reported
favorably upon the bill to incorporate the Cal?
vary Baptist Church of Charleston.
DeLarge introduced a bill to ostablish the
Mount Pleasant Ferry Company, and extend
the aid of the Stat? to tho same, which wa3
The resolution of inquiry introduced on Sat?
urday, in regard to the course of Chancellor
Carroll, was laid on the table.
A caucus of the Republicans was held to?
night on the subject of the Judgeship of the
First Circuit. Ransier and DeLarge made
speeches in support of Whaley; Chamberlain
advocated Carpenter, while thc chums of Glover
wer? urged by Sasportas, and those of Word?
ing, of Beaufort, by Hoyt and Wright. Wha?
ley and Carpenter seem now to be the strong?
est candidates. McKinlay will probably be
elected Register of Mesne Conveyance.
Nothing was done in the Supreme Court to
THE OPENING OF CONGRESS-THE CASE OF GEOR?
GIA- THE MESSAGE-POLITICAL GOSSIP, AC
WASHINGTON, December 7.-Both houses of
Congress met at coon.
In the House the credentials of Christy and
"Whimpey, contestants from the Sixth Geor?
gia District, were referred to the Committee
The credentials of Miller and Hill, senators
elect from Georgia, came up in the Senate. The
clerk read a memorial from the negroes who
were expelled from the Georgia Legislature.
Menard, who claims to succeed Mann as one
of the representatives from Louisiana, is pal?
pably a colored man, and was cn the floor of
The Supreme Court Judges, hcadod by
Chase, with Evarts attending, visited the Fres
The Supreme Conrt was in full bench, except
The Georgia senatorial question is warmly
contested to-day. Only Hill's credentials have
been presented. Miller will probably require
the removal of political disabilities, and it was
thought best not to complicate Hill's creden?
tials. The Republican pi rt y ara divided on
this question. Messrs. Ackerman, Bard, Speer
and the members of Congress, except Clift,
urge Hill's admission. Governor Bullock and
Mr. Blodgett, supported by Congressman Clift,
The Commissioner of Internal Revenuo will,
during the week, transmit to the President bis
resignation, to take effect at the close of the
It appears that the negro Menard is here
without credentials from the Governor of
Louisana. It is staled tc-day that the Colored
Library Association addressed a note to
Menard urging him lo make no effort for a
seat as it would certainly work to tho general
Governor Bullock has addresser1 a, commu?
nication to Congress, repr?senting that tho
laws of Congress under which Georgia was ad?
mitted to the Union have not been fully com'
plied with, and holding that, until such com
phaoce, Georgia's government must continue
provisional. The failure, he says, hes in fail?
ing to exact from office: s elected the oath
prescribed by the Congress, and administering
instead that provided by tho proposed Georgia
Constitution, which failure to execute tho kw
of Congress has resulted iu tho defeat of
tho purposes which Congress had in view
in passing these acts, namely, affording ade?
quate protection tor life and property, the
maintenance of peace and good order, and the
free expression of political opinions. The
Governor states 11 tho wisdom displayed by
Congress in providing that only loyal men pai
ticipate in tho establishment of a provisional
government, to be thereafter clothed with the
rights and immunities of a State in tho Union,
is made apparent by consequences arising from
a failure to enforce that legislation." The
Governor calls the attention of Congress to
this suDject, to the end that stops maybe
taken to obtain full information in relation
thereto, and to the end that loyalty may be pro?
tected and promoted by the enforcement of
tho laws enacted by the representatives of the
THE HOUSE, one hun ired and sixty-four
membere wera present. Several new members
were sworn in. After the proceedings reported
at noon, the credentials of Mr. Hamilton, of
Tennessee, were presented. They were re?
ferred to a committee, and the privilege of the
floor refused to Mr. Hamilton pending the de?
Some half dozen bills and amendments to
the constitution, providing for the regulation
of voting and naturalization in all the States,
were presented and referred to the appropriate
The Judiciary Committee wera directed to
inquire what legislation was necessary to
seouie uniformity in compensation under the
eight hour law. A half dozen financial bills
The correspondence with Johnson relativo
to the Alabama claims was called for.
A resolution eensnrin? Raverdy Johnson
and demanding his recall was referred to the
Committee on Foreign Relations.
The committee to wait on the President IC
ported tbat the messago would be transmitted
at one o'clock on Wednesday.
Tho Committee on Reconstruction were di?
rected to examine into Georgia affairs, with
power to send for persons and papers.
Miller introduced a bill to suppress the Ku
K'.ux by national authority, aud declaring tho
members outlaws, wu.oh was referred to the
Tift presetited tho memorial of the Georgia
Legislature, asking the removal ot the political
?mbiliues of oil citizen-;, wh sa was referred
to the Rc const roc ti ou Committee.
Kellogg, of Alabama, introduced a bill to
improve Mobile harbor, which waa referred to
the Committee on Commerce.
A bill was introduced providing for an elec?
tion in Virginia in January, whicb was refer?
red to thc Reconstruction Committoe.
A preamble and resolutions repealing the
Tenure-of-office bill was tabled.
The Reconstruction Committee were direct?
ed to inquire into the condition of Virginia,
Texas and Mississippi, and report what legis?
lation was necessary for the protection of life,
liberty and property in those States.
Is THE SENATE, Sherman presented Senator
Hill's credentials. Drake objected. He would
never admit representatives from a recon?
structed State wherein the supremacy of loyal
men had been overthrown. He contended that
Congress had tho right to see thc Reconstruc?
tion laws enforced. Sherman insisted that
Hill's presence here would help to cure the
wrong. Thayer said that the roal ground of
difficulty was that the Georgia Legislature
was an illegal body, and requested the
reading of a communication from Governor
Bulloch, in substantiation of his statements.
Various documents wore read opening up tho
whole question, when tho matter was post?
poned to Wednesday.
Rice, of Arkansas, introduced a bill requir?
ing the Secretary of War to doliver to thc Gov?
ernors of North Carolina, South Carolina,
Goorgia, Florida, Alabama, Louisiana and Ar?
kansas, al thc respective scats of government,
as many arms for the militia as the Governors
may require-not exceeding two thousand
rifles and two field pieces for each Congres?
sional District. These arms must go into tho
hands of loyal mer?, but to remain the property
of tho United States, subject to the order of
Several financial, suffrage and naturalization
bills were introduced, after which the Senate
THE BEPOBT OP THE SECRETA UT OF THE TREAS?
URY-THE PUBLIC DEBT.
The Northern papers of to-day contain a
synopsis of tho report of the Secretary of thc
Treasury, which erroneously states that the
Secretary shows a decrease of the public debt.
The fact is, the report shows an increase for
the year ending the first of November of over
thirty-five millions of dollars, and the state?
ment of the public debt for the month of No?
vember will show a further increase ol over
eleven millions of dollars, making the increase
of the debt for the last thirteen months about
forty-seven millions of dollars.
THE PRESIDENT'S MESSAGE-WHAT IT CONTAINS.
The President's message is completed in
type. It recommends the repeal of the Recon?
struction laws, the Tenure-of-Office law, and
the act providing tor the arming of the m in: ia ;
and also recommends the speedy resumption
of specie payments, and sets forth in substance
his financial views as embodied in his recent
letter to General Ewing.
WHAT THE RADICALS WILL DO.
Washburne, Schenck and other leading Radi?
ad members of CoDgre3s, informs us that Con
gross will not likoly inaugurate any meas?
ures of a strictly partisan or political character
during the coming session, but will devoto
their time to finishing legislation heretofore
proposed on important matters, such as bills
for the resumption of specie payment, the
postal telegraph system, Not much busi?
ness is expected to be done beforo the holi?
TURKEY AND GUEE CE.
CONSTANTINOPLE. December 7.-The Sultan
has decided to oct vigorously against Greeco
should Cretan resistance continue. Unless
Greece 'gives reassuring guarantees, commer?
cial and diplomatic relations will cease.
NEW ORLEANS, December 7.-Rio Grande
files to December 1st have been received. The
Tamiulipas insurgents, under Vargas, Cabello
anc* others, are very active, but have not yet
made any movement of military importance.
Escobedo is marching on them with the third
division of the national army, and at Matamo
ras he will reorganize for a vigorous campaign.
There are reports of much general disturbance
aud pronuDciamentos in various parts
of Mexico. Near St. Louis Potosi thc
earth was shaken m my times in quick succes?
sion, and a mountain near had exhibited signs
of an eruption, and it was feared that a new
volcano was about to break out, thc air being
full of ashes ana smoke, and the earth shaking
with a subterraneous noise. An earthquake
shock was also felt in tl e C. ty of Mexico on the
t>:xth of November, and at Puebla enocks were
fell for three days.
THE OLD DOMINIOS.
A NICE STATE OF AFFAIRS IN THE VXBGXKtt
RICHMOND, December 7.-In the United
State District Court to-day waa argued the
h ibcas corpus case of Cosar Criffin, convicted
in the Judge Shelley's State Court of shooting
a white man and sentenced to the penitentiary.
Tho counsel for Griffin pleaded that his convic?
tion waB illegal, because Judcre Sheffey was in?
eligible to hold office under the Fourteenth
constitutional amendment, and was therefore
no judge at all. Judge Underwood gave his
opinion sustaining the ground of the peti?
tion, and discharged the prisoner. The coun?
sel tor the respondent appealed from the
District Ju ge in Chambers to the United
States Circuit Court, when Chief Justice Chase
will be on the bench. The prisoner was bailed
to appear before the Circuit Court. This de?
cision of Judge Underwood, if confirmed,
upsets two-thirds of the criminal and civil
decisions made in Virginia since th" T?AI:
Tho Trouble at Savnanah.
SAVANNAH, December 7.-F. B-odbacker, who
was shot and killed by negroes on Saturday
last, was buried to-day. The firo companies
and German associations turned out iu force.
Two of the wounded patrolmen are in a very
critical condition. Tho excitement bas some?
what subsided. More arrests have baan made.
Condensed News by Telegraph.
General Cole, who killed Hiscock in Albany,
N. T., some months ago for the alleged seduc?
tion of hie wife and ?aa tried for murder, was
Mr. Thomas R. Price, a well known dry
goods merchant of Richmond, ts dead.
Mr. J. ?S. Peachey, of New York, died sud?
denly ia Richmond, Va., on Sunday night.
Tho accounts of the terrible etc am boat col?
lision ou the Ohio aro conflicting, but forty-five
passengers by tho steamer United StalcB, in?
cluding ei?hteeu ladies, seven of the crew and
eighteen deck hands, ?ra believed to bo lost.
A gentleman aud his sisUr, from Louisiana,
were the on'.y Southerners among them.
-A erusty old bachelor says ho thinks it is
woman, aod not hex wrongs, that ought to bc
AFFAIRS IX COLUMBIA.
Another Candidate for the Cir
Judgeship-Colonel Carpenter in
Field-The Candidates for Regist?
Mesne Conveyances-Who They A
Mr. Hayne's Letter and what
thought of it-Thc Fire Loan Bon
They arc to be Funded-Stock t<
Convertible into Bonds-All Bond
bc Payable in New York-State S?
ties will soon be at Par-A Case
Point-Cincinnati and thoBlac Ri
Road-A Fixed Salary for Sherii
Uniform Rates of Freight-Thc C
tested Election and thc Supr<
[raOM OUB OWN' COBBEf-PONTtENT.]
COLUMBIA, S. C., December C, 18C8.--Ano:
candidato for the judgeship of the Chm
ton or First Circuit has entered tho nek
number of friends having brought for*
the name of R. ?. Carpenter, Esq., the p
cnt popular registrar in bankruptcy.
A leading member of the Charleston d
gation said to your correspondent this mc
ing, that while ho recognized thc meritori
services and ability of Mr. Carpenter, t
gentleman hud uot identifie 1 himself with
party, nor seemingly interested himself in
success. If, therefore, he voted for any c
didatc outside thc party ho would vote
Colonel Wai. Whaloy, of Charleston, becnv
said ho, I have received a numerously sigi
request to that effect from my constituent!
Charleston. Mr. Carpenter, it is bat fair
say, was waited upon here by a uumber
members of the Legislature, and asked to
come a candidate. He replied that he did I
seek the office, but that if clcctod would
happy to servo.
The members generally do not exhibit I
active interest in the electiou of Judge, whi
comes off next Wednesday. But thc cont
for thc office of Register of Mesne Conveyai
awakens much more interest. The promint
First. W. J. McKinlay, son of Alderman J
Kinlay, of Charleston, and an active lea der
the Republican ranks.
Second. Captain James 0. LadO, whoso i
cord, as circulated by his friends, is as follov
"Captain James 0. Ladd entered the Unit
States Volunteer Army from Massachusetts
1861; lost his right arm at Antietam ; was prom
ted by the Secretary of War, and entered a ref
ment of colored troops, whore he served till aft
he close of ?he war. Ho was connected with t!
Bureau Refugees, Freedmen and Abandon
Lands during a portion of 18GG and 1867, ai
was chief dork in tho Adjutant-General's tl
partmcnt, Second Military District, during tl
work of reconstruction under General Canby
Third. Mr. Augustus E. Cohen, of Charlo
ton-a quiet, unassuming gentiemau of co
siderablc experience. Ho was for some tin
connected with the office.
Fourth. Mr. J. R. Stoll, an old and w<
known citizen, who also has had great exp
rience in that branch of business, aud is brotigl
out by Senator Cain as the most suitable mt
for tho placo.
Appearances at present indicate the fir:
named candidate as having thc best prospec
The reply of the Hon. LW, HaynetoGo'
emor Scott is regarded by thc Rppublico
leaders as excellent in tone, dignihed, courl
OUB, and-as thc Governor himself admits
truthful and gentlemanly. In conversatioi
the Governor said that tho very heavy pressui
of business upon him at the last session pr<
vented his immediate attention to the subjet
complained of in Mr. Haynes reply, namoi;
that thc Legislature had made no provision t
pay the Fue Loan bondholders in Europe, c
for thc redemption ot the bonds.
A bill was introduced at the last special ses
sion entitled, '"A bill for thc conversion c
Stato securities," which had for its objects th
funding of tho Fire Loan bonds, as well ai th
other indebtedness of the Stato. It was rea
a first time in tho Senate, but from 6omc ova
sight no further action was then taken. I
was road a second time last Thursday, and rc
committed to tho Committco on Finance fo
somo slight amendments. This bill gives th
bondholders the privilege of exchanging thei
old five per cent, bonds for new Stato six pe
cents. Tho principal and interest of tho nev
bonds will be payable iu New York. Partici
holding Stato stock are allowed to convcr
them into coupon bonds. The reason of tint
is that tho stock is always about ten per cent
below thc bonds, and in New York our sloe!
cannot be sold without a transfer agent. Thc
purchasor, of course, wants his title at once.
A New York financier, in the course ol' thc
conversation, remarked that South Carolins
Stato stocks were uot known in New York be?
fore the war. South Carolina financially was
theu only kuowu in Loudon ?iud Liverpool.
The interest on South Carolina bonds was
ouly payable hero and iu Loudon; hence South
Carolina stocks were never called on the Now
York stock board. Having lost all capital, it
has bc como a necessity that the principal and
interest of tho bonds should be payable in New
York, the same as other stocks, on thc first of
January and first of July. In case the State
should theu be short of funds, enough can bo
borrowed for the occasion. Tho principal and
interest being payable there, South Carolina
stocks will be called on tho stock board in tho
same way as every other Stato in tho Uuion.
There is no danger, said he, of the s'ock going
down. The State debt is so small that the
bears cannot put the stock dowo, and it will al?
ways command a high price. He thought that
within less than three years South Carolina
State bonds would be worth aa much aa Ohio, In?
diana or Illinois bonds,which now stand at about
par. Another reason ho gave for this belief
waa, that before the war the poople of South
Carolina generally invested their surplus capi?
tal in negroes and lands. But with no negroes
to buy, and all laud to soil, tho surplus will be
I invested in State securities, especially as
South Carolinians generally havo not the fullest
J faith in five-twenties and other government
bonds. The result, he thought, would be that
! Sooth Carolina Stato securities will bc near
par. To show how lew Bom9 Stato stocks had
been, bc cited tho case of the Stato of Illinois.
Her stock, when she was building the Illinois
and Michigaa Canal, weat down to 10 and 15
cents. It was surprising, ho said, that South
Carolina bonds dil. not go lower than they did
Rt'ier thc war, and he now thought thov would
not havo prono even so low had not some of thc
people of thc StaL? continually cried thurn
down. Ho also cited tho case of Indiana,
when her bonds, whiic building tho Wabash
and Erie Ca,al, went down to 17 conts. The
resources ol South Carolina, he said, were iur
in ad vaneo of those Stales ao that time.
I learn tiiat a bill has been introduced into
the Ohio Log:Ektur-? to allow the City of Cin?
cinnati to u-sno bonds to hui d the Bluo Ridge
Riilroad. The city iUel* .a to tako charlo of
I neglected to monlion, in a former letter,
that notice bas been given of a bill to tlx tho
eolanca ci eborilT-i and o ber er-nnty officers.
Tho bil! contemplate* tue eetabhBhmeut cf a
fixed salary for sheriffs, and the payment of all
fees into the State Treasury.
A bill will also be introduced this week, pro?
viding for a uniform rate for freight on all rail?
roads in South Carolina.
It is intimated that tho Supreme Court will
not undertake to give a decision in the Charles?
ton election case, on tho ground that tbe ques?
tion is one that can be heard only before a full
bench. Should this bo so, no decision can be
arrived at until Judgo Moses qualifies, or an?
other ?B elected to fill tbo place.
MOKE BASKING CAPITAL.
The Great AV nut of Charleston.
TC THE EDITOR OF THE KEW 3.
The triter, in his previous article, confined
his rc.rjj.arks mainly to the effect produced upon
our cotton trade by our deficiency of capital.
It might be shown quite as clearly, that each
and every branch of trade, and of mechanical
and other industry, is equally affected by the
sime cause. To do so would necessitate the
extension of these articles to an undue length,
and the writer thinks he may fairly assume
that enough has beon said to satisfy every one
of tho paramount importance of adding to our
available commercial capital. The readiest
and most effie icnt means of doing this would
be the establishment of a bank with a capital
of not less than $1,000,000.
Two objections will probably be urged
against tho feasibility of this projoct. First,
that a charter for a National Bank cannot be
now obtained; and secondly, that so large an
amount cannot be raised. Bjth of these ob?
jections can bc readily refuted.
As to our inability to obtain a charter for a
National Bank, tho writer takes thc ground
that such a charter is not desirable; as he
would decidedly prefer a Stato charter for a
bank of discount and deposit. The only ad?
vantage that can bo claimed for a National
Bank is tho right to emit notes ior circulation.
The writer donies that this is really an advan?
The law requires that for. ?very ninety
dollars of notes furnished by government for
circulation a National Bank must deposit in
the Treasury one hundred dollars of United
States bonds. It is true that the bank re?oives
interest upon the bonds so deposited, and can
still us3 the notes leceived in exchange as its
banking capital. This privilege of drawing in?
terest from tho government upon the money
invested in bonds, and of using tho notes as
currency, is tho bait that proved so attractive,
and rendered the National Banking system so
popular; but it is now found to have its disad?
vantages also. The circulation is subject to a
tax, which is so much abstracted from tho in?
terest received upon tho bonds; but the great?
est objection is that tho capital of the bank is
necossarily lockod up in government securities.
It is well known that notes, when they once
pass into circulation, cannot be recalled at the
pleasure jf tho bank, 'and the original capital
is thus subjected to all the vicissitudes that
may attond the national credit. Tho bonds can
only be redeemed by the return of the identi?
cal notes for which they are pledged, and thus
a bank cannot cb inge its invostnient. Should
they find that tho bonds were- depreciating in
value, they would still bo forced to hold them.
Besides this, Congress may, at any moment,
by amending or dunging the National Bank?
ing laws, entirely ?weep away any apparent
advantage derived from tho law as it now
Wo find that in Now York what aro there
calla-J security or trust companies-which are
nothing moro or loss than banks of discount
and deposit-are now preferred to Nitional
Banks, their stock being preferred at? an in?
vestment. A National Bank is liable to all the
conditions and restrictions now imposed by
law, and cannot escapo from other conditions
and restrictions that may, at any moment, bo
imposed by a chango of tho law. In a word,
thc capitol of a National Bank, or such por?
tion, at least, as may be invested lu bonds to
obtain notes for circulation, is placad ontirely
beyond tho reach and control of thc bank and
A bank of discount and deposit would
enjoy a much greater freedom of aetion,
and could realize ils assets and close up
its affairs at any timo that it might bs the
wish oC its stockholders to do so. In addition
to a regular bulking business, advances could
bo made to factors or planters upon produce
in hand. This is a largo branch of business
which, in New York, is monopolized by thc se?
curity companies. No safer business can be
undertaken, and nono is more profitablo to the
bank or effors greater advantages to its cus
tomcio. Advances upon cotton, nco and other
produce, niado uudor proper restrictions, and
upon conditions of perfect socttrity, would
afford just tho kind of relief that is most
needed, and would not fail to attract to our
city a very larg J am mot of business, which
now finds its way to other and mora favored
Having but small cash liabilitios to meet, its
capital can be invested in longer loans, and aid
eau bo given to enterprises of great utility,
whero temporary loam for thirty or sixty days
would be of no avail. The only cash liabilities
of such a bank would bo its liability to its depos?
itors, and by using only a proper portion of its
deposits as capital, it could always realizo from
its maturing commercial paper the amount
needed to meet any sudden or extraordinary
demands of its depositors. A fuller investiga?
tion into tho advantages and disadvantages
between tho two systems, the writer feels euro,
would result in a decided preference being
given lo a bank of discount and deposit over a
In considering our ability to raiea a capital
of $1,000,000, we have two sources to look to
first, to ourselves; secondly, to the capital?
ists of the North. First, as to ourselves; for
we must recollect that before wc can appeal to
Northern capitalists wo must ?bow our owu
faith by subscribing as large a portion of the
capital as our limited means will allow, it is
admitted that our merchants who have ready
money now need it nil for Ibo purpo?oa of their
own business, but if they could bc assured of tho
establishment of such a bank as is proposed,
they could well afford to invest no incousidcra
ablc -ltnouut if their ready means in its atock,
as they would know that when they needed
money it cou! i bo oblainod from thc bauk in
thc way of discount. Xnoy aro no.? forced to
keep in Land, thc year rJUud, funds willoh they
ueedojly at certain seasons, for thc r:ason
thai, if parted with when they cou'd spare
them, they might not bo able lo realizo them
when needed. Thc ab ?euee ol a sufficiency of
capital thus hampers what little wo Lave. To '
usc a homely i lustration : A and ii might, r.t
at ono period, iinvu a surplus of money in
hand which B and O at tho same timo greatly
need, iud ?ould uso to advantage, but A aud B
cannot assist them. a? thoy loar it might not
be lortliconiiug promptly ?ben needed. A
month or two later their posilioas n.i :lit bc
reversed, and li and C. with idle funds iu hand,
could not relieve A nnd B, for the samo reasons
that A and B could not relieve them when
tbey were pressed. In forming a bank all
in their surplus fnnds, each knowing tba
can be aided when necessary.
But apart from our merchants, it is a
known fact that there ia at the present
ment a large amount of capital in the bane
many in tho interior of tho State, which is ho
ed up from a feeling of insecurity, and a
of not being ablo so to invest it so as to 1
it entirely secure, and at the samo timein s
a manner as to ce able to realizo it when ni
ed. It is, of course, impossible to estimate
amount of tho private hoards so held, but
amount must, in the aggregate, exceed m
times the amount proposed to be raised i
capital for this bank. ThestV-private hoa
yield no income and aro liable to serious ri
from robbers and incendiaries, and they wc
readily be drawn out and made available if
holders could bo made to feel perfectly
Our second reliance is to be placed upon s
scriptions by Northern capitalists, for in t
more favored section of our country there is
lack of capital seeking safe and profltablo
vestment. Why, then, has it not boen s
here, to relieve our wants, and reap the adv
tages of tho high rates of interest which hi
prevailed ? Tho answer is simple, and can
given in three words-''Want of confidenc
Capital is timid, and tho same fears wh
have induced many of our people to hoard
what ready cash they had at their comma]
have prevented Northern capitalists from soi
inp; their means here for investment to a
considerable exteut. Tho question, then,
solves itself simply to this, have those caus
been removed, and aro we now able to msp
that confldoncc which is necessary to sect
the object wo havo in view ? An affirm?t]
answer can. I think, bc safely given.
The Presidential election was an event look
forward to by many at the North with feelin
of great anxiety, apart from its mere pohtii
bearing. Grave apprehensions were entertain
that it might lead to serious disturbances
the South. The mass of the Northern pooj
believed (to use their ownj expression) tb
the spirit of rebellion was dormant, but st
existed in the masses of tho South. This t
lief, unfounded os it was, undoubtedly conirib
ted greatly to tho defeat of the Democrat
party. That election is now over, resulting
the choice of the candidate of tho Republic;
party. The election, though resulting advera
ly to the wishes of the Southern people, w
marked by no scenes of disorder, and the r
suit has been accepted by them as a final ne
tlemcnt of all thc important sectional questioi
at issue, including tho Reconstruction act
The people of tho North must now be ful
convinced that the battlo cry of their chost
leader, "Let us have peaco,"is thc faithf
echo of Southern sentiment.
The good sense and sound judgmont of tl
American people being now left free to judi
of thc true situation, uubiassed by false r
ports invented and circulated by designir
politicians, will not fail to discover that life an
property at tho South are secure, and the
shrewd capitalista will not fail to perceive th:
the South is now a rich field, where judicioi
investments aro likely to yiold a large an
safe return. It is therefore reasonable to BU]
pose that, if proper representations aro mat
ta mon of wealth at tho North of tho gre:
need of additional banking capital in this cit,
of the certainty of its yielding a good rctun
and above all, that capital so invested will I
subjected to no greater and probably less ria
of loss than similar investments at tho Nortl
no difficulty will bo experienced in obtainiu
all thc aid wo nee J from that quarter.
That we can give assurance that capital s
invested will bo both safely aud profitabl
employed, does not admit of a doubt. On
present banking capital is $500,000, again?
$13,000,000 before the war. Our receipts (
produce, though diminished in bulk to thc es
tent of one-half, havo not largely docreasod i
aggregate value, owing to their increase
price. lu fact, it might roadily be shown tbs
with increased facilities the valuo of our export
would largely exceed in valuo tho highes
amount reached before the war. That undc
such circumstances, a bank, such as is propos
ed, would, under good management, do a prc
fitablc and sato business, must bo apparent t
If, then, wo will commence by aubscribinj
liberally ourselves, there can bo uo doubt o
success, and it is not improbable that tho c.ipi
tal might be increased boyond the amoun
lt is scarcely necessary to refer to ths man;
advantnges of a banu of large capital over OIK
of small capital. Apart from othor considera
tions, tho expense of mmagum 'lit would b<
but slightly incroascd, nuking tho poreontage
of cost niiinitoly less.
The writer would, therefore, propose th<
following plan: Let a numbai- of our lead
ing merolnnts meet together and soled
proper persons to bo rccommeuded aa prcji'
dent and directora of thc tunk, and lei
these gentlemen take the matter in nano"
and solicit subscriptions, first in this city;
secondly from parties residing in tho interior
of the State, and lastly to send ouo or more ol
their number to New York to obtain subscrip?
tions there. Should this project re?oive the
favorable consideration of thc commuuity,
measures will be. taken to put it into practical
NATIONAL BOARD OF TU ABE.
In this bodv, on Thursday, thc following
resolutions, offered by tie Chicago Board of
Trade, were tue cauoo of a groat deal of dis?
cussion-the delegates from the East gene
ally opposing then* passage, while Wcotern
representatives strongly advocated tho pas?
sage of the same. They wore finally adopted
by a vote of forty-nine to twenty-six:
Whtreas, The custom prevails in most
cities av the seaboard of selling produce, pro?
visions and other property nominally for cash,
but iu reality upon a credit to tho purciiaser
of from five to fitteon days; and whrrcas, tuc
Western or interior consignor of tuch property
has been in many casca obliged tu suffer loss
by the credit so given by his cosign?e to
irresponsible partita, ?iud at olhi r limos has
been obliged to pay lurg-'ly for guaranteo Dy
his consiguec of suoh sales on cedit; thuro
Resolved, That it is thc opinion of thc Na?
tional Board ot Tiado that ail Bales of grain,
flour, provisions aud other similar properly
couMgnc.-l for Kilos on owner's aoooun. to com?
mission merchants, should JU fer cash on de
Resolved, That thia body recommend to
local (>rguniaitiou3 assneat'd with it (ho
adoption of such rogulauons touching tho
salo and payment for proporiy an will C .ut'orui
to clio spirit of the foregoing re..o:utiuas.
Mr. Prczerant, cf Memphis, submitted tho
?o?owiug resolution, wh.ch waa referred :
Rjsokid, Tnat it ia of mauil'ost interest,
bolu to tho government and the peop,e. th it
tho construction of raiimaia flhjuld bo en?
couraged by tho former; ana ibis can bo done
by permitting railroad ii au to bo importe.!
Mr. Withcrel!, of Philadelphia, offoiid tho
following, which vi:\ ? tab ed :
Rtsolocd, Tua! thia b :;rd memo*al zo Con?
gress to so m-dil the Mado.ial Banking act
&3 to icquiro National Ba ks to malo a Btati -
meut of condition, not upon any fixod or Yan
able date, bat at periods leas than foui times a
year, to be determined from timo to time by
the comptroller, and always antecedent to the
dato of notification of the required return.
Resolutions were offered and referred in favor
of measures for securing such international
legislation as will secure private property of
belligerents on the ocean the same freedom
from seizure which is granted to that of neu?
trals; and recommending Congress to buy and
assume control over the telegriph linos of the
On Friday, the Committee on Telegraphing
reported tho following:
Resolved, That the National Board of Trade
rocommond the adoption by tho general gov?
ernment of measures to cheapen and extend
telegraphic communication between the differ?
ent points of the country by making it a part
of the postal system.
Thc resolution was postponed to come up
after tho shipping question. The remainde r
of thc session was occupied with a discussion
on tho questions of banking, currency and the
resumption of specio payments.
AN EXAMPLE.-We know of a young man, a
native of Mississippi, who wa9 "born to afflu?
ence, as his greatgrandfather, a Virginia gen?
tleman, bad been before him. He was about
seventeen years old vhen the war ended; up
to which time he had lived in a luxurious home,
his father before the war haviug a yoarly in?
come of not less than thirty thousand dollars
in gold, all of which he spent on bis borne and
inmates. His children never had a wish for
anything that money could buy that it was
not anticipated. Tho war left the father with
nothing but his land; for both armies had
passed near his plantation, and his stock and
household farm turo had disappeared-passed,
what was left, under th? auctioneer's hammer
for Confederate money. And even tho land
was not bis, for old security debts claimed and
obtained a mortgage on thal.
Wnat did our young hero, for be is worthy of
the name, under such circumstances?
He took his hands out of his pockets and put
them to the plough. By his individual labor
he planted and cultivated five acres of cotton
and fiftocn of corn, besides an acre or two in
popcorn and peanuts.
Work waa hard fur him at first-very hard.
As be told tho writer: "I thought I never
would learn to hoe. My hands would pain me
so that I would almost weep, but before ibo
summer was out I could hoe a row with the
best hand in Mississippi."
ide had good land, bringing a full bale of cot?
ton, or thirty to thirty-five oushels of corn to
tho acre, and his year's work has netted him
from $800 to $1000. Ho is now going to school
in Virginia on the proceeds.
Were the example of that young man followed
generally by our Southern youth, how rapidly
this country would recuperate and enjoy a-ma?
terial prosperity unknown to it in tho past.
OS- NOTICE.-CONSIGNEES PER NORTH
Gerraau Bark "GAU?t?," from Bremen, are hereby
notified that ibo has been entered under thc Five
Day A,, ?nd will ???charge Cargo at Atlantic wharf.
All goods not permitted at the expiration of that
tune will be sont to public atores.
GEORGE A. HO PLEY k CO.
December 8 _3
t(S- CONSIGNEES PER STEAMSHIP
MANHATTAN, from Ne.v York, aro notified that she
is die .-barging cargo at Adger's Wharf. Goods
remaining on thc wuarf at sunset will bc stored at
thc expense and risk of owners.
JAMES ADGER & CO., Agents.
December 8 1
LINE.-Ihc schooner N. W. A ITH is now dis?
charging cargo at Adger's North Whirf. Goods not
callod for bc oro sunset w... be stored at rink and ex?
pense consignees. WILLIAM ROACH.
December 8 1
U/S" NOTICE S HEREBY GIVEN THAT
at thu meeting ?I lie Legislature an application will
be made for a Charter for the "DEUTSCHER AR.
TILLE RIE," ?uterstutzungs-Verein.
Doccmoer 1 tuM
?3-BT7Y YOUR TEA AND COFFEE FROM
Etil ETE k CHAPMAN, corner King and Radcliffe
street?, and get a better article for the same money
than at any other establishment in tho city.
November 14 Cmos
OS- BATCHELORS HAIR DYE.-THId
splendid Hair Dye is tho beet In the world; the
only true sud perfect Dye; harmlese, reliable,
nstantanoons; no disappointment; no ridiculous
tints; remedies tho iU effects or bad dyes; invigo?
rates and leavre thc hair soft and beautiful black or
brown. Sold by all Druggists and Perfumers; and
properly applied at BatcLelor's Wig Factory, No
Bond-street, Now York. lyr January ?J
$W ELEC rBO-CHEMlCAL BAlHb ARE
now ready at No. 70 HASLL-SIREt?T, a*, the ofllco
cf Dr. HcRVEY U. ULECKLEY, for tho cure of all
inveterate chronic affeoiions, vliich have resisted
the treatment of all medication.
eici.ticm.e_. ?Ul be accaia-aod tied duriug office
hours, from 7 to 10 A. M., from 3 to 1, and 7 to 10 P.
M. Ladies at uuy other boa:-, whoa they will Hud
au experienced Lady to ai tend them.
Ur. e.XECKLI.Y will bo glad to see any or his pro?
fessional brethren (who are favorable to medical pro?
gression!, aud will tako pleasure in exhibiting the
Operation of thu baths.
Certificates ol remarkable cures eonld bc furnish?
ed, but it ls not requisite.
November ll Imo
?5* WHEN THE PLANTATION RUTERS
wero first made known to the Auicrioan people som?
seven years ago, it was s.ipp< Bed tba; they were an
entirely new thing aud hal never otIoro oeen ujcd.
So far af their general usc lu tho ru::, d Sutes is
concerned, this may bc true. It is also true that the
?ame t Itters were made and sold in the Island of
St Thomas, over forty years ago, as any old planter,
merchant or sea captain doing business with the
West Indies will tell you. It is distinctly within my
recollection that on tho return of roy fath r(who
was a sea captain, and doing an extoasivo trade io
the tropics,) he would invariably hive theso Ritters
among the ship's stores, and our family sideboard
was never Without th>>m. Fer any sickness, it mat?
ters not how severe or trifling, the decanter of these
Bitters, by a different name, was always rosortea lo
ar a sovereign remedy.
MAGNOLIA WAT-UI.-Superior to tbs best imported
German ?vorn?, and sold at haU* the priae.
December 8 tnibe3
OS" REVOLT IN TUE INTER?OR.-WHEN
the stomach is rebellious, tho livor coutumacoous,
tbc bowels uisord red, thc br.iia contused, and the
nerves in a tumult, nil l i tuo aid of HD-iTE CTE F.'8
SIOMA'H BITIi R>, 1? yon woa d rea.ore quiet,
r< gu arity and harmony lo tho aetioo of th?s.- impor?
tant org ne. A i.: :,; proportion ol tho cjinpl&ints io
whicb the human f .nilly arc subjeot o igiuate iu in?
digo-taon. For thia dist csa iff malady, and par nt
of innmncrab o atimo tl* as distressing as ii-cif, thc
Bitters ure ibo o.ily a-tiolo proved by experience to
bc a universal a id niitui'.ieg tem dy. Put olLhoagh
it wa_ : s a romady fo . dyspops.*. and biliousness
that they brat obuiiie l pr ii <jc twc:.ty years ago, it
la now wo 1 undera.0"d, both by tho public ;.nd tho
medical i r-fessicn .hat thar ouratiro properties
take a far wider raa.o. in n/rvons complaints,
Fpa.?medic auctions, f vcr and ajno, and every vati
cty of genera and )o<:al debility, their effect i- most
sa'uLrv ; and xi a incaa-i of preparing ti.e system to
resist lijiii;!, oo'.d, poisonous clements in the waler
or tho air, privatiou, expo, u-e, .Vc, no medicinal
asi-m at. i repent koo ?ra cum b . justly compared with
this poAor.ul yet ... im IM ionic. Thc Ueb'o and
FOas Uve, - ho c;u I'l wi lis and tho inc'f m?ncy el
ike ?nuter searOti, wi l fi d its RU TS oxoetly ;he
a-uclo ihcy need te for ti ty and siistuin them.
December 1 O ?
FOR LIVERPOOL)-FIRST VESSEL.
150 BALES TO COMPLETE CARGO.
THE SHIP N. MOSHEB WANTS THE
above quantity of Cotton, and will rail in
a few days.
For i'reight engagement*, applv to
Pei-ember 8_STREET BBOTH Kit's fc co.
THE NEW AND STRICTLY Al AMER?
ICAN Clipper Bark LIZZIE H., H. H. M.
^ S PRING Commander, will be dispatched
?for the above port. This vessel injures
For freight engagements, apply to
STREET BKOTBEBS k CO.,
December 8 No. 74 East Bay.
THE FIRST-CLASS IRON SCREW
STEAMER CAMILLA ia expected
to arrive on 0th instant, and being
of tmall capacity will meet with
For Freighf engagements, apply to
ROBERT MURE k CO.
The CAMILLA will be followed by the COBDEN,
ROXANA and MARMORA._December 8
PAST FREIGHT LINE, EVERT FIFTH
DAY, TO AND FBOM BALTIMORE, PHILA?
DELPHIA, WASHINGTON' CITY, WILMINGTON,
DEL., CINCINNATI, OBIO, 8T. LOUT?. MO.,
AND OTHER NORTH WES 1ERN CITIE8.
THE FAVORITE AND SWIFT
S rew 8teamshij' FALCON, JESSE
D. HORSEY, Commander, will sail
for Baltimore on Friday, tho 11th
December, at Four o'clock P.M., from Pier No. 1,
Union Wharves, making close connections, and de?
livering freight to all points in connection
promptly and at low rata.
Through Bills Lading given on Cotton to Boston.
Insurance on Cotton, Rice, Domes: iel and General
Merchandise, by tuc steamships of this Hue, fi per
cent, to or from Baltim re or Philadelphia.
The steamship CARROLL will lollow on regular
ForF.eight orpassaie, apply to
COURTENAY k TRENHOLM.
December 8 i Union Wharves.
NE IV YORK. AND CHARLESTON
FOR NEW TORE.
THE SPLENDID 8LDH WB?2L
STEAMSHIP CHARLESTON", BEB?
ET Commander, will lea>e Adder's
Wharf on Tuesday, the 8th remem?
ber, at 1 wo o'clock P. M.
?3-1 trough Bills of Lading given to Boston und
Providence, K. I.,
8&- insurance can bc obtained cn these steamers at
fi per cent.
For Freight or Passage, having splendid Cabin
accommoda ions apply to
JAMES ADGEB k CU.,
Corner Adger's Wharf and East Pay (Up ^ta'r*).
The steamer MANHATTAN will follow on Satur
day, tho 12th December, at - o'clock.*
December 8 1
FOR NEW YORK.
TO SAIL WITH DISPATCH.
-f-.-? THE n.1 STEAMSHIP KKY
fz*to*J WEST, RUDOLF Commander, will
sail for the above port with dis
For Freight or Passage, apply to
J. A. ENSLOW it CO.,
December I No. 141 East Bay.
FOR NEW YORK.
REG ULAR LINE EVERY TSURSDA F"
PASSAGE Hunt CED TO $15.
&/r~r-!gm THE STEAMSHIP SARAGOSSA?
x ?&tt-i'?'Captain <'ROWELL will leavv Virdor
??f/flvgl^jwrf?^bom's Wliarf. on Thursday, Da
Jfe 8MBMh?oember IO. at Three o'clock P. M.
December 7_RAVl-NEJ. k CO.. Agents.
STEAM TO LIVERPOOL.
CALLING AT QUEENSTOWN,
yvf-evx* TUE lNMA.s LIN/:, SAILING
//?t?m&L SEMI-WEEKLY, can-?inp tba TJ.
^^?JlJ?J?la S. Mails, consisting of ts* ll'jwiaa
CITY Ol' PARIS,
CITY OF BALTIMORE,
CITY OF WASHING10N,
CITY Ol'1 BOSTON
Sailing every Saturday and e\cry alternate if,- Jay
at 1 P.M., from Pier No. 45 North River, New Yort
BATES OF PASSAGE.
DY THE MAIL BTEAMEi.S SAILING EVERY B.lTUBrAY,
Payable in Gold. | Payablo in Currency.
lat Cabin.$100 j bteerage.$ D
1st Cabin to London. .105 steerage to Tendon... 3
1st Cabin to Paris_116 | Steerage to-Paris.4
Passage by the Monday ste 'mers-First Cabin $l-Z
gold; (steerage 580; payable in U. S. currency.
Rates ofnussage from New York to Halifax; Cabin.
$20, Steerage, $10; payable In gold.
Pas: enger? also forwarded to Havre, Hamburg,
Cn-mcu, ftc, it moderate rate.'.
Steerage pas-ace from Liverpool and Queenstown,
:40 currency. Tickets can be bought here by per.
HODS sending for tbeir friends.
For further information apply at the Company'
offices. JOHN G. DALE, Agent,
No. 15 Broadway, New York.
June 4 fimo
PACIFIC MAIL. STEAMSHIP COMPY'B
THROUGH LIN J TO
CALLFORNLA, CHLNA A2?D JAPAN.
FREIGHT AND PASSAGE AT GREATLY RE
DU CED RATES I
-?vC^- STEAMERS OE 'ina ABOVfi
y^s^'T^rt. lmo ,eave P?cr Iio- *2? North Elver,
42MMB?IH ,00t of Canol-street. Now York, a
-T^g=ffi^_. in o'clo-ik noon, ol'thc let. Otb, 16th
und 24th ol every month icxcept whoa these dates
fall on Sunday, then tho Saturday procediug).
Depanure of lot and 24tb connect at Panama wife
steamers for south Paei?c and Central American
poets. I hose ol 1st touch at Manzanillo.
Departure of stu ot each month connects with
thc new siesta liuo from Panama to Australia and
steamship GREAT REPUBLIC leaves San Fran?
cisco t rOAtiarad Japan January 4. 1830.
>o California Dreamers K-UCU at Havana, but go
direct from Ne* York to Aspinwall
Ono hundred pouuds barago free lo each adult.
Medicino aud a: tendance tree.
For Passage i ickeu or turihex information apply
at Ibo COMPANY'S TTcKE 1 OFFICE, on the 7rbert.
foo: o: Caual-atreet, No: th River New Y irk.
Morell 14 lyr I. K. HABT, Asent,
TR AV K Lb H. RS l*?SSIV? I ll HOI (if!
CHABLEsTON EN UO?IE Td FLORIDA, AIKEN
i-r-_ ^ Aud otuer places, should not fal
vJ&??'r'f'^L *o 'ay iu l,lt:,r supplies or PBOVIS
C?Wm?J?mn I?Ns-, CL-REIS. CHAMPAGNES
Jr^Sap, CORDIALS, Blt A A'DIES, WHIR
KIES, WINKS. CANNJiD MEATS, SOUPS, kc.
Pates ol Wild Gamo und Devilled Hum for Sand?
wiches and Luncheon?,
asreeud for a catalogue.
IV M. S. CORWIN k CO.,
No. 275 Kmg-atreot,
Between Wcutnortn and Beaafain,
Charleston, S. 0.
Bunch of No. 900 Broadway, corner 20th street,
FOR BK CV SW I CK, G\.
f ??T^J* TUE h ' BAUER "DICTATOR,"
^^32?53? Captain CHASLES WILLEY, will touch
at tins point ever Wetnwiay, leaving savannah at
Nine A. M., an ) on ber return trip will touch there
on Saturday Afternoon, arriving DICK at Savannah
on Sunday Morning. J. D. AIKEN k CO.,
November 24 Agents.
VIA SAVANNAH, FrBNArU'iNA AND JACKSON
- - g-rr-*?? THE KI IC? T-CASS STEAMER
'^TklamjmZ nTP r A 'n " Captain CHAS. WILLEY,
<tni fail from Ohar.eaton aver: luesaay Evening, at
Elgnl o'cii ck, tor 'lie ab ive points.
'The first-class Stcomer CITY Pi 11 '-"I, Captara WM.
T MCNELTY, will i ail from rh rieato'i every Friday
Evening, *\ Ei?ht it'iaock, lor anove nouns.
i onifcting w.tb th" C nt al ?ailr.ia., at savannah
for Mobile and Ne Orlean-, and wih IUB Monda
Uatlroad at l'ernandiu i for Ceilar Re.a at which
piint sieamers couuect with New Orleans, Mobile,
Pcnsaco a. Key Weat and II vana.
lbroui/h Hil s La liu. givou for FreLiht to Mobile,
Fcnaaco a and New urleaus.
Both steamers will connect with the MOcl.:wafc?"
kte imer.i a> lMlatka.
AL ir-iu1 '. >i vaule un the wharf
Gooda not removed at ?uucai will bs c.zx/i at risk
and expi nae Oi OW: el's.
>or Freight or Fanage engsgemoi k apr.ly to
J. I) ?TK.EN li : > ?_ . . rms,
.(.mb ?rb:i.? vh:irf.
fi. P.-No extra ch..ive for Meals and . laicrooms.
)ONE TRW A WLE,v.,
CHARLESTON AS 21 S A V V '- ra A FT ST2SASI
PA EE! LIN'*,
VTA BEAUSORT.Hil ION Ul AD ?. ? ~ ""O^
bTUAMKIt PILOT LOY.c?pi, uj. ?. VAH?F.
BiKtBlbR Fr.H.- IE. . . :? : P~CE
: --=._ t?Nr OF I HE ATC .' ? . -.Mi-Lr
art.C;.??i"?w .11 .' ? '-?. .". ' v
JA) ii ' .<;. i '. ? 'dook, au? i Li? x.-t :?c.v-.ay
Morning, at 7 o' lech
lor freuhi cr ?xtcaet, a; i ... -o