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Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, January 04, 1864, Image 2

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YEEKLY SENTINEL.
MONDAY, -
!JAN. 4.
The year eighteen hundred and stxtyihree has
pxstand its record is ruade up. rTo us, 8 a peo
pie nd"a nation, at bis beet filled with iaiportant
and Interesting event. The civil war has been
wnf J5er?ety"Jarid upon a sc To that has 110 pir
allel iu history. Over a million and a quarter of
men of one n ition have confronted etch other in
deadly strife, and at a cost in treisure of at lost
fifteen hundred millions of dollars. Notwith
standing this imioeiiie drain upon the resources
of the couutry, a Urge portion of the people of
the North hive enjoyed an apparent prosperity
equtl, if not greater, than in years of peace. We
know here but little of the evils of war. Onlj
those wb hve tnversed a.couutry over which
a large array h i pissed, can appreciate the blight
anl curse which follows in the train of war.
", war ! wh it. what art thou t
' At once tbe proof and scourge of man fIl'n tat !
J Af'er the brightest conquest, what appear
Of all thy lories t for the vanquished, chains!
K r th prru I victri, what! alii! to reign
O'er deflate uationa.
The history of the war for the year can be
briefly told, especially as iu imports ut events are
fresh in the minds of all. There have been msny
terrible battles, with fearful slaughter. Our arms
have met with no rue reverses, but we have gaiued
many decidad and important successes. The area
of the rebellion has been considerably reduced,
and the navigation of the Mississippi river, which,
a year ago. wa ander the control of powerful
rebel armies, has been opened, and ia now
traverseJ by Federal war and merchant stenmers.
This is the bright side of the picture, bui there
is another and a dark one. These contests have
beeu fought and victories have been won, but at
a fearful sacrifice of life. Tens of thousands of
brave and gallant meu who during tbe j ear just
closed marched forth in health, in all the pride of
life and buoyant with hope, have bit the dost
lives v.ilu able to the nation, to society, and to
their families. But the jear cannot be recalled.
It hs fled, and it is almost impossible to realize,
so fast has been its footstep, the mighty events
which luve been crowded upon it. Let the dead
burj the dead.
To-day opens a new year. What shall be the
l.Utory of 1864? At the close, as now, will two
powerful armies confront eich other in battle
array? or shall peace ttnile upon the land?
'Oh beauteous peace
Sweet onion of a Slate! what eUe but thou
U.vti safety, strength, and glory to a people?"
During this year will peace be couquered by
the overthrow of the rebel armies and the sub
jugatiou of the rebel States? Our forces will be
vastly augmented by the time the spring cam
paigns opeu, and it appears to us in o-er-powering
numbers. From whence will the reb
els fill op and increase their ranks so as to be
able to meet and resist their foe? Their youths
are mituriog, and from that source many sol
diers will come, and l-ire numbers of their able
bodied men have not ret beeu in the field. We
must expect that the more desperate their for
tunes become, as they yet manifest the spirit of
determined tesisiance, the greater will be their
effjrts. Tbey have vet resources left which they
miy u-;e i;i the last extremity. They well
know that if our armies succeed, the emancipa
tion of their slaves will folljw. In the I ist ex
igency they could anticipate this action, emanci
pate their slaves themselves and put the able
bodied iu the field to fight with them for inde
pendence. May we not anticipate that the follies
of the pirtT in power will force this policy upon
the South? Aud what would be the result if tbe
laves should be emancipated aud some five or
six hundred thousand able bodied negroes pat in
the field by them? Would the abolitionists, in
that event, desire the war to be prolonged when
their object iu favoriug its vigorous prosecution
had beeu accomplished? Would not foreign
cations then recognize them, when the?
have only refused to do so on ac
count of slavery? Under such circum
stances what the prospect of conquering
the rebel State- or of enilinj the war, no matter
if we should double the three hundred thousand
additional men lue President has called for? We
h iv put nerroasj into our armies and would not
the SiJih bejuiüel in using the same weapon?
'I he New Ye.tr Li before us. It will be au im
portant one for the future of the country. A
Presidential election it at hand, when the people
will be called upon to approve or repudiate tbe
party ia power. Au J th it election places new
and grave responsibilities npon each an 1 every
ciliz-wi. We believe th it pce h uor.iMe mid
jus ieace coall ba c-Kipierei an 1 the Un'on
ret wed by tbe re-ttor-.ttio.-i of the Diin vcr.nic
ptitv to power. re?reentin as it does the con-sen-
.nam of the n ition An! every ram wh
thu- believes has a duty devolviug upon h'tn.
grave and resp anible, Irotn which he cannot
shrink. May we not c5l noon all wh sincerely
desire peace and Union to give their time, their
ability. and their roeius.to accomplish so noble a
work? D.es it n t "e'i ive all iu entering a poo
this new year.tnd miy it be a ble-sel year in its
hietorv, to labor di'isrently for the true interests
of (he nation, casting aside all personal ambition
an I mere pirty prejudices, to restore the slory
and prosperity and happiness of the old Union?
, God grant it.
Dea're not to live long, but to lite treil;
Höht lung we live, not jreir. bot action tell.
Abolitionism lief tiled
We publish in this number two able essays upon
the sut ject of slavery by one who most fully com-
- prebended it alike in its moral, political and so
cial berinrs. The essay was written by Bishop
Exglaxd. of Charleston, in lF40,oneof the most
giftel and purest prelates of tbe Catholic Church.
The views he expresses are in direct variance
with the sentimental philanthrophy and infiJelity
of New Eugland abolitionists, wbote doctrines
. ate ia direct conflict with the teachings and prin-
- triples of Chrutiauity. Bishop E.xglaxd
successfully combats the dogma that slavery
U sinful, and when this underpinning of the
. abolition argument is knocked away, the whole
superstructure falls. The war was instigated by
abolitionl-m, it is prolonged by the same cause
nd it will be procrastinated so Ion:; as it in du
ereeslh coonrilsof the nation- If our free in
stifotions are overthrown ami a military despo
listn i eubstffited, this work may be justly at
tribute! t abolitionism. The peple need just
- such argumetiU as are presented by Bishop E.xg
tAtn to enlighten them upon the controversy in
regard to slavery, and we believe the ouly hope
for restoring aud perpetuating the beat govern
meat to world ever nv, is In the public mind
being dis ibusrd of fanatical abolition teachings.
For that purpose we puldwu the essay of Riidtop
Ejgiajd, and trut it will receive the considera
tion it so justly merits.
There is one fact in connection with the history
of the Afrk-an race which completely' demolishes
- all tbe dogmas f abolitionism. With the aame
mesM of improveuiftit thenejro on his native
aoiljo far as the recor V of the p ist enlighten us.is
the same now as be was in the beginning.aiMl the
race never emerged from barbarism üntil it came
in contact with the" white. If there ia anything
lu providence or nature iu either the higher or
lor Uw the truth we have stated ia the best
demonstration thai the Maker of an all intended
the white to be the superior at.d dominant race,
and the commingling f blood, the experience
of all will atteat, debases the physical nature of
both, if it does not also morally and Intellectual-'
ly. The mulatto Is short lived. And all the
: teaching of history, both sacred and prof4n
are but 'confirmations, iio matter what the cause
Or purpose, that the uegro race was Intended to
be sulijectire to the white. 1 ;
, The professed philanthrophy and the present
schemes of atwlltlotiurn also demonstra-e pr.ncti"
cally the position we luv taken. . The mortali-
tf among the contraband from both neglect and
change of habits is mot fearful. Since the war
began tens of thousand have b---ti thus eoianci
pated not ouly from servitude but life. Massa-
chuatt4h hot-bed of aboIiUoiiim and iufiJelitr,
was the first State to get permission to raise ne
gro troop and she put the whole country under
contribution to fill her quotas and let her white
citizens, who claim to be the peculiar friends of
the negro, escape the d mccrs and privations of
war. It is stated by authority that soon we shall
have one hundred and fifty thousand negro troops
in the field. The telegraphic report, revised by
government censors, published to the country a
few days ago the information that Jeef.
Dans also intended to put able-bodied
negroes into the field. If such be the
ease the grand moral spectacle will be exhibited
to the world of rifgrcfes meeting negroes upon
opposite sides in deadly strife, upon tbe issue of
slavery as the Republicans insist, and by the
casualties of war helping to abolish the race.
Thia may perhaps be the best way to exterminate
slavery, and it is a Yankee notion, too. If the
negro, as the abolitionists contend. is the disturb
ing element in American politics, then they might
very appropriately recommeud the whites on both
sides to stand off, put the negroes into the field
and let the war be prolonged until like the Kit
kenny cats they may fight on until the combat
ants are practically abolished In this way the
great problem in regard to African eliverTand
the future of the negro may be speedily solved.
A few years ago the exrlamatiott of sympathy in
regard to another r ce was, "Lo! the poor In
dian! and it is not improbable that New Eng
land dogmas upon hlavery and its philanthropy
for the black man may th inire it to, "Lo! the
poor negro:
The Abolitionists have a peculiar fondness for
ringing the changes upon the expression in the
Declaration of Independence, that all men are
created dee and equal. They contend that that
declaration includes the negro race. But how do
they illustrate their theory of equality? They
deny it practically and prove they have no con
confidence in the captdty of the negro, by
placing over the colored soldiers white officers.
There are hnndreds of negroes in the North who
hare been educated and had every advantage of
reading and observation, yet even the cultivated
colored di n is doomed by his own professed
friends to a poitiou of inferiority. They must
do the drudgery, while white men reap the glory
and advantages.
We allude to thee matters to show that in
spite of all fine spun abolition theories, the seu-
timent prevails generally that the Higher Law has
made a distinction between the races, and the
history of the two demonstrates it. S;avery has
been a benefit to the negro. Bv comiug in con
tact with the white race in that condition he has
been vastly improved. Whatever of injury
si ivirry has caused, the white race have been the
sufferers And in the inyterious workings of
Providence it may be the purpose to abolish the
black race on this'continent to save the deteiora-
tion of the white. But the ways cf Providence
we must leave for time to solve.
The National Currency System.
A meeting of bank officers was held in New
York city on the 5ih of December last, at which
the following report ol the committee previously
appointed Messrs. Jous E. Williams and John
L. Evtairr to report on "the National Btnk
Currency Act. ns to its prospective effects upon the
currency of the nation and the national credit,"
as read and adopted. The committee discuss
the proposition submitted with great ability, in
ood spirit and with evident 'sincerity. The
currency system of a nation affects all of its
citizens, and is one of vital importance not only
to the nationsil creolf, but to iudiridutl prosperi
ty. Hence n new svstero should be attemritel
ithoutdue cooperation. This review of tbe
National Hank Currency Act is most searching,
and we think clearly demonstrates that it will be
disastrous iu its operations upon the currency of
the nation and the national credit. We h ive re-
girded the report of sufficient importance, 3 a
clear exposition of the workings of the new cur
rency system, to place it before our readers, and
we think no one will rise from its per im. 1 without
being interested, aud enlightened in the topics dis
cussed. The Committee report as follows:
At a meefiiig of b ink officers held on the 6th
of Oe'ober, a committee w;ts appiintel to report
hi the Nition.il Bink Currency Act, as to it
prospective e.Tects upon tha currency of the na
tion and tne national credit: mid renorl what
action, if any, devoltes upon the banks in the
premises.
The undersigned members of a committee ihns
appointed, beg leave to report as follows:
The system referref to in the foregoing resolu
tion, is authorized by nu act passed at the I tt
legion of Congress entitled, "An Act to provide
a National Currency secured liv a pledge of Uni
ted bt .tes stock , and to provide for the circula
tion and rrf option thereof."
How cldVeijr this suliject my be connected
with vestel interests corporate or individual now
iu existence, vour Committee do not nuke the
object of their inquiry. A scheme "to provide a
ii-tiioiial currency aecured by United State.
stocks," 3 of iwo rast importance to tbe whole
people and government of thia country, to be
dwarfed by any partial, or mere professional con-
Biderntious.
As men, therefore, accustomed to investigate
question ol hn.tiK-e jurt as business men studv
their affairs, your Committee desire to subir.it the
result of their i esearclies. Not in any ipirit of
cavil, or fault boding far from it but with deep
convictions mat tne nutject is so crave, and
fraught with possible consequences so momeut-
ous, iliat the best thoughts of your Committee
may litii to Uo it justice.
Various amendments were pogrested before the
passtgc of the Act, but not adopted: tliev may
I be incorporated hereafter; oi, the law tnagCe re
pruutl allrtyeiar, out, lor pre-ent purposes, it mo.t
be regarded as it stands on the S; a tine Hook .
Three imoortaut queatious demand serious
consideration:'
l?t. What is this scheme ' to provide a na
lioiial currency''?
, 21. Whit will be the efl?ct of the propose!
currency on the interests ol" the eople?
3d. What will be the probable consequences
to the National Government?
First, as to the plan: Section 5 of the law pro
vides that any number of persons Dot less than
five, may become au association for the purpose
of banking. Section 6 enacts that the opiul in
cities shall not be less than $HK),Odü, but in the
country it may be $.rU,(XK) . Section 7 provides
that 3i per cent, at leat of the capital stock shall
be paid in at the time of comniencii.g business,
and the rem tinder in . 10 per ' cert,
hut ilmetüs as oiieu as once in two
months thereafter. Section 12 declares, "For all
debts, cuulracted for circulation, deposits, or
otherwise, each shareholder shall be liable to the
amount. t tltir pr value, of the aharea held by
him, in addition to the amount iu vested in such
lure." Section 15 provides that erenr ao-
ciatiou hall transfer aud deliver to the Treasurer
of the Urn led S-.t, uy United States bond,
bearing interest, tu an amount not less lh.ni one
third of the c tpiul stock paid in. Section 16 de
clares thtt, upou making such traufer, the iu
socimi'ju shall receive circulating" notes to the
anw-unt of ninety per cent o tuc-h bonds.
By way of elueiJ itin-the foregoing provision-,
jour Committee will assume lint a national bank,
with a capital of f,io00l), U lo be ornaiiixed. The
aiu uol reuire-i to be pnid in, ia thirty per cert,
thereof, say $15,000
One third of such paid in capital is to
be invested in boud. ay......... .,.,, 5,000
Leaving a capital of $10.000
Ob depoaiuua; the $5.000 in bonds, circulating
notes to the amount of ninety per cent, are to be
issued to the bank, say, $ 1,503 Thea fourteen
months are allowed in which to complett the pay
metit of the capital, say tea per cent., or $5,000,
every twe months. During which time, tbe bank
U doing business, receiving individual, or even
United State Government deposits, on au active
capital of $UI,0U01 f
Section 19 require the - p vvment. semi annu
ally. to. the United States, of half of one. per
centum on "The amount of cimjlating notes, say
one per cent a year. Section 20 declares that the
notes shall b received at par in all parts of the)
UniteJ blates, 111 payment of taxes, excises, pub
lic lands, and nil other dues to the United States,
except for duties on imports, anj also for all sal
aries and other debts and demands owing by the
United States to individuals, corporations aud as
sociation witbiu the Uuited States, except inter
est eu public debt.
Sections 2, üö, 27 nnd 2, provide Tor the pro
test by the holder, and redemption by the United
States, of the circulating holes of any bank which
may tail to redeem them, at the office of such
association, in "lawful raouey of the United
States." Section 41 requires every such asso
ciation to have on hand, at all tiufes, in lawful
money of the United States, an amount equal to
at least twenty five per cent, of the aggregate of
its outstanding notes of circulation and its de
posits: provided, however, that clearing-house
certificates shall be deemed to be lawful money
in the possession of any such association: and
provided, further, that any btlancedue toany as
sociation, organized under said Act, O other pla
ces. from associations in Boston, New York,
Philadelphit, and other cities named, may be
deemed a part of tbe lawful money required, to
the extent of three-fifths of the said tweuty five
pewentum
Your Committee believe the foregoing analy
tical summary embraces the substance of the
"Act to provide a National Curreucy." The
bills are receivable by the United States for all
dues except for duties on imports, and may be
paid by the United States to all individuals, cor
porations, and associations, except for interest on
public debt. But they are not a legal tender be
tween man aud man, nor has any bauking insti
tution a legal right to pay them out in discharge
of its debts to an individual or corporation.
This disposes of the first inquiry "What is this
scheme." &c.
To the second iiiquirj." What will be the ef
fect of the proposed curreucy on the ioterests of
tbe people?" your committee respond:
Perhaps the most attractive feature, with re
gard to the national bank currency, is the preva
lent Idea that it is to be a currency of uniform
value all over the United States, from Maine to
California; and, indeed, its being secured by
United Sutes stocks, favors this supposition
Look at the practical working of the t-cheme,
and sec whether this be well founded or falla
cious. It must have beeu observed by all, that tbe
applications for banks under this law, though
numerous, are for small amounts, many of only
$50,000 or $GJ,0;0 cipiul Your Committee
know of very few which aie designed to do a le
gitimate banking business. There m iy be others,
but from the small amount of capital of more
than a hundred of them, aud ih locilities of
several, your Committee strongly su-pect them
of being intended for biuks of circulation only.
not regular business banks for defiosits and dis
counts, but hat are known in our Western SlaUs
by the expres-ive term "Wild Cat Bauks." It
will be borne in muid that the bills of the-e
banks are not redeemable at an agency, like the
country banks of New York State, but only "at
the office of the association." There the bills
must be pre-euted for pavmeut, iu lawful money
of the United Slates, and if not paid, protested;
then takeu to the Comptroller of the Tie.'sury.
in Washington, who after thirty days is bound to
redeem them.
But how nrc the people to make such presenta
tion? Or how can even any institution, if it
were disposed, afford to do it? All the bills, w
are toIJ, are to bo printed from the same plate,
hiving only the locality and number to distin
guish oue from another. Now, is it to be pre
suined that any person will be able lo discrtmi
irate between them when all look so neirlv alike:
If not, what is to prevent a large a mount of bills,
having their legitimate homes in Minnesota, Ne
vada or C ili.'oriiia, but their places of issue
a a ti' ii . -
among tne brokers in wan street, irom oeing
circulated in New York or any neighboring city?
Suppose ei.ht or ten millions, belonging nomi
nally iu ns many different Slates, to be put afloat
in New York, how can the city get rid of them?
By what process procure a redemption of this uu-
cuirent money? Whose bu.iuess will it be to
save a hundred dollars of this bank, and a thou
sand of that, and send them to Wisconsin or Da
kota, only to be protested, returned to New
York, then sent to Washington, and niter thirty
days redeemed there at par?
(Jr. suppose the man in business has taken
these bills, and has a note to pay tit bank; the
bank cminot receive bis "national currency," be
cause it has no leagle right to p'y it out to either
depositor or bill holder What, then, can he d i?
lie has but one source of relief; he must t ike
the bills to the uncurrent money broker peihaps
the very m hi who issued them and submit to
a discount of from one to five per cent.,
according lo the distance of the place aheie the
bank is sup, osed to have "a lucal habitation"
and a number. The man who thought he had a
currency of "uniform value all over the United
States," find'4, when he leaves the broker's office,
that he h ts one or two hundred dollars less than
when he cute.etl there. But it is not merely the
business man who is to suffer. This depreciated
currency, will become the general medium of
trade. The laboring ni iu and poor woni .n, when
thej make their sni ill purchases, will find five or
ten per cent, added to the price they would be
required to pay, provided they could ofler legal
tender note. Is it fair to throw this unnecessary
burden mi t lie poor aud iuor.iLit ? Who ij bene
fited? Only the mm who perverts the legitimate
use of a b inking law of the United States, which,
however, by its own impcrlectious, h is stimulated
his cupidity and instigated unsound banking.
If more currency is required for the legitimate
business of the country, why shoulJ not the gov
ernment avail itself of the opportunity to is-ue a
further amount of leg 1 tender notes7 They do
furnish a curreucy of uniform value less the
expense of transportation iu every part of the
Union Whereas the National Bank currency is
not hwfut money, and. being jmyable in diil'erejl
parts of every State, mut be subject to the laws
of exchange, which are as iiit'ilh'. 'e as the I iws
of gravitairon, and neve.-'siinte a discount eti bank
bills pty able at a distance fpuu business centres,
eveu when redeemable in spe io Paper currency,
merely, is poor enough at bet; why then bhou'ld
the goTctnmctit be illitig to .rive the people au
inferior paper currency, when it commands a
supe: tor one? Th it is the question!
Anotlver mint deserve consideration. The
lolal amount of currency authorized by the Na
tional M ink Act is th.ee hundred millions of dol
lars. Does any one believe that so large a ruin
can be added to the present paper circulation of
this country without causing undue inflation of
price in every commodity?
The h mount of legal tender notes in circula
tion may be set down at $4W. 000,00(1
In M.y last the bank note circula
tion of the loval States amounted
to ." 1 0,400,0011
Total iüfet.-l'.io.noii
Now, if you add to the foregoing $300,000,000,
National Bank currency, will not the inevitable
teudeocy be to a great depreciitiou of paper, as
compired with gold, creaing enhanced prices,
and iurreascd expense of living to every class of
society? It mu.-t be remembered, too, that we
are on the eve of a further issue of ''legal len
der," in the form of ircasury notes beiring five
per cent, intere-t. Thee notes are a legal tender
for the fce of them. Fifty millions have recent
ly been sold by the government, under a law
authorizing the issue of " $400.00(1,000; leaving
4350.000,600 yet at the disposal of the govert
ii.enl. Can it te considered wise, or nrudent, to
create a larjie amount of- new bawk currency
under the-e circumstances?
Your Committee do not state that, in their
judgment, the present issue of legal tender notes
is in excess of the wants of government and re
quirements of business. They nre aware that the
average amount of legal tender notes held by
New Yoik city banks, for sereral months past,
has not exceeded twenty millions of dollars, al
though those notes now constitute the reserve
or me Hutu of settlement In place of specie.
Had this currency been superabunJant, it would
have shown itnelf as it certainly has not in
large accumulations at the principal cities. New
York, Boston and Pnil idelphia.
V a rioos causes combined h ire created an in
creased demand for currency; and the following
may be regarded a among the principal one?,
"namely: (1st), the withdrawal of specie from
commercial nnd inerciuttle transactions; (21),
the advance in prices of all cotmndiliw; (3d),
the. shortening ot credits in every branch of bu
sines; '4th), the large payments to the army
and navy, and other war disbursements.
This leaves out of the account the whole West
ern country which, by th annihilation, two ar.d
half years ago, of its banking institetions
(founded on State stocks.) was completely
emptied of paper currency, and bad to be filled
up anew, not only to the measure if its former
fullness, but far beyond it; for the United States
hasteen baying largely of almost all the products
of the West; and not only the United St tea
Government, but Europe also, has been a pur
chaser, and all has been paid for in "lezal ten
ders." Indeed, the demand from the West for
these notes is eonnaotly inctrasiof , being larger
this autumn than ever liefore. This currency
the peonle are satisSed with. It is a direct prom
we of the Government, pure and simple. It holds
every dollar of property in the couniry, corporate
aud individual, pledged lor its redemption. Xy
act of Congress it is a legal tender, ind has re
cenilr been so pronounced by the highest tribu
nal iii the State of New York. As lawful money.
it is as good between individuals as between the
Government and au individual: it pays bank debts
as well ss shop debts, without soy discount what
ever, i ' i . -"--.(
But, it has been pertinently asked, wold you
continue this paper currency in the .form of legal
tender, forever? is this issue, made from the ne
cessity of the case, to become perpetual? Cer
tainly not. The lemedy is very simple. When
the wsr ends, the disbursements of the Govern
ment will be at once reduced one half to two
thirds. 01 course, then, the Government, to
that extent, ceasing to pay out legal tender, the
volume of circulaliou will decrease. The notes
will also be converted into interest-bearing secu
rities of the Government, aud then cancelled
the United Slates having no further use for tbeni;
and thus, in two or three years, the legal teude
notes will be reduced to a minimum mount w
1 as low a sum, that is, as the people may desire
I when they may be redeemed in specie by the
j Government, and re issued cr not. There is no
necessity, therefore, as your Committee conceive,
for tbe creation of a nations' bank currency. as
has beeu suggested in Washington iu order that
it may be substituted bv the Government for le
cal tender currency Besides, if the legal tender
should be withdrawn to make room for the na
i lional bank currency, what then will be left, with
which to redeem that national currency, at the
counters of the banks? Not pecie, surely, for 1
they will hardly be expected to buy that at forty
to fifty per cent, premium, or to pay out at par
in the redemption of their bills! And it may be
justly feared that tht-se national banks will come
to create a powerful interest throughout the conn
try in favor of a protracted suspeiudou of specie
payments, which it would be to their advantage
to continue for an indefinite period. This is a
very serious consideration, and is. of itself, suffi
cient to excite great apprehension in view o' such
probable result. Is it ag safe to luve a bank pa
per circulation without any specie at all iu the
banks, as it is to keep a bank currency which is
protected already by a handsome specie reserve
in hand?
Indeed, the proposed substitution of bank cur
rency for legal tender, would be a direct loss or
injury to the Govern ment Suppose, for in
stance, the three hundred millions bank currency
should be used by Government iu place of a like
amount of legal tender withdrawn, would not
the Government lose the interest on that sum,
which, at six per centum, amounts to eighteen
millions annually? Besides the Government
being obliged to hire money, in some other way,
the people must be taxed lor the inteiest 011 it,
in addition to what they now piy. The Govern
rnent certainly requires all the aid th it can be
got from the ue of its legitimate credit. The
people have, therefore, a direct pecuniary inter
est in this question; for the treisury would not
only lose thereby an annual interest of c-iuhteen
millions of dollar', but it would lose the use of
three hundred millions which it now has without
interest, neiived from tint amount of legal ten
der no US; except, indeed, to the extent it might
dispose of its Kecurities in competition with
other sellers for such bonds as m iy be lodged
for national bank currency The people are now
supplied with a satisfactory currency, but in the
national bank currency they would have one that
is f ure to become more or less depreciated by its
very nature. Cm any one doiibt, then, the ef
fect of the proposed currency on the welfare of
the people of this country would be extremely
injurious?
It now lemains for your Committee to present
their views under the third head, viz: What ill
lie the probable consequences of the currency to
the Niitional Government? This is by fir the
most serious and important onsi ler itini ot all.
Curiency tu av de; re -i ite. Ia livid i il.-i miy lose
or stifiVr, and the nation still continue prosperous.
But il the creiiit an I integrity of our National
Government iliall be impaiied by the operations
ot" stupendous banking scheme, unwi-e in its
inception, untime'y in its birth, and fraught with
tendencies of evil consequences, it were better,
far better, that it had fallen still born.
Th it jour Committee may not even seem to
exaggerate, they will state what appears to
them to be the simple state of affairs which,
under the chcu instinct's, sooner or later, is sure
lo exist.
The United States wiil hold, in charge of the
Treasurer at Washington, its own bonda for the
security and final redemption of the circulating
note of the national banks, under an express
provision, that after protest at the office of emis
sion, the Government will, cither by a sule of
audi securities, or by assuming them, redeem the
prote.-ted notes. For a time all miy go on
swimmingly. The banks will get ouUiheir cir
dilation, and incrcise, from time to time, tilt a
bank, originally of $5'J,000 capital, will hire
swollen its uointiiil capital and increased its cir
culating notes to .5'.lil,0'j0, without perhaps ever
having redeemed, even with legal lender. $10,
OO'J, at its remote home ofO'.-e. But panics have
periodically come upon us. They vlll probably
always come. An incictsed volume of paper
cm rency is oui ci v no guarantee that we are io-s
subject o ihem now than we have been hereto
fore On the contrary, i.s not the public credit
more liable to a coll ipse than it ever was? And
besides, tliis law permits ihe cxiabli.-hmeiit of a
new "letb ink pjslen," (the firsi phase of which
is already seen iu this city.) which is liable to do
far more harm, public and private, than eveu the
old one did.
In a pinie, 'he bills of batiks are sent home for
leJempiion The notes of merely circulating
banks, whe I er under tie national law or under
the law of the State of New York, are likely to
be protested for non-put metit ; for such banks do
not k?er specie, or other lawful money of the
United State, with which to redeem the'r bills.
They count on keeping their bills atlo.it, a their
only source of profit. Tl-.e bills of a national
bank being protested, are sent t Washington for
redemption. At such a time, in a crisis, the
Government has no spare lunds with which to
tike up bank bills. Importations have f illeu oft,
the receipts for duties are lessened. Nothing re
mains but to put the United States: bonds on the
market, and sell them for what tliev will bring
The amount is large, but there is nb help for it.
One third of ihe who e ihrec-hundted millions
niy be returned to Washington, uo.Ier protest;
but suppose th amount is only lulf that sum,
who is to be found, under such c-rcuuisunces, to
bid even lift cents on the dollar forli tv millions
of Uni'el St ites bonds, especially when it is known
that thete are two hundred and fi.'iy millions more
that may le force 1 01 the mn kwvU nler similar
circumstances? Where then- is the credit of the
United S'ates Government? Pr orate, broken
down, in the vain ir.rt to u-iain a so-called
nation t! curtency. Why houM the people for
one moment countenance a plaii fraught with such
danger, or even such possibility of danger to our
country? Very likelv. too, this - Utility may
befall us ah' n r.ot only domestic troubles h iniiKs
but foreign c implications mod threaten the pence
of our land.
We have already jen in this State the opera
tion of a like law ol New York, oi a small -cale.
New York State stocks are selling t presnt at
a I trire advance over par; but in 1857, when outy
a few hundred thousand dollars iu them were
forced on the market to redeem bank notes se
cured by them, they were sold at a reduction of
more than thirty per fent. Suppose twenty-five
millions had been thus tbnwu on the market,
can anyone doubt that they would have gone
below fifty? '1 his is a trifling amount compared
with the millions that may be "rushed" home for
redemption, under the national currency system.
The disastrous consequences will be proportion
ate to the magnitude of the transactions. For,
after all, this Act of Congress is only a modified
form of the New York free banking law of 1838,
with the best points of the State law left out.
Your Commitree have aimed to show the na
ture, and inherent defects, of the National Cur
rency Act They h ive described the evils which
will befall the people of this country il the cur
rency tiecome depreciated, as they believe it In
evitably must should this system be persevered In;
and they have attempted to portray the dis 19
astrous consequences to the character and credit
of our general government, if it allow itself to
be involved in this uncalled for and dangerous
financial measure.
It would have been eay to show that the wel
fare and interest of the United Stales CJovern
tnent are identical with those of the people, in
the existing bmk capital of the loyal States
now amounting to three hundred and thirty mil
lions also. In the circulation as before stated,
one hundred nd sixty eight million und de
posits much largrr ttiM; inasmuch as these banks
are the financial instruments for wielding the
concentrated capital of the country. Bel your
Committt have porpiwiely avoided everything of
a private or even a local character; being1' desi
rous of treating the subject as ef general, rather
than special Interest. They have looked at it from
a national point of view, a patriots and n-t as
partisans. Tliey havs regarded the well l eing
of the whole community, and not the Interest of
any on cbtas, calling, or profession.
A "Loyal League Union Club" gave a grand
ball in New York Wednesday night. "Practical
snpport:" : . - - ?
The Letieni of the f ounders of the
Government ;
The dangers which tbe wise and patriotic men
who founded thV Government feared might be
fall it, are row up-n the country.' They provided
every safeguard ginst these evils through con
stitutional enactments which their sagacity could
anticipate and suggest, but they could not in every
way prpvld for the protection and security ol the
liberty ol the citixea when the Constitution, which
was designed for that end would have no more
force or.-ritality with the administrators of the
Govern ßeit than the parchment upon which it
was written. One of the most able and far
seeing statesmen which the Revolution developed
was AniAMuct Hamilton. lie not only stood
pre eminent as a civiliun, but he attested Ins pa
triotisin as a soldier. liaatiLTOX was in favor of
establishing a strong central government, and he
labored earnestly to give that direction to the
chart of government which he took an active part
iu framing. Although entertaining these con
victions and earnestly advocating them, guided
by the lessons of history, he clearly foresaw and
predicted that a civil war, such as is now being
waged for the purpose of coercing unwilling
States to return to their allegiance would, in all
human probability, result iu a dissolution of the
Uniou the very disaster which tho war is pro
feseJlv prosecuted to avert. In an article iu
the Federalist, referring to this subject, be thus
gives expression to his opinions:
When the sword is ones drawn, the passions
of men observe uo bounds of moderation. The
suggestions of wounded pride, Ihe instigations of
irritated resentment, would be apt to carry the
States, against which the arms of the Üuioo
were extended, to auy extremes necessary to
avenge the nffrout. or to avoid the disgrace of
submission. The first war of this kind would
probably terminate in a dissolution of the
Uniou.' ,
This was written about three quarters of a
century ago, and if it had been said now, the
present troubles of the country could not be mot e
forcibly jKirtrayed. The h'story of the war illus
tratcs the sagacity of the predictions of Hamil
ton. "When the sword is once drawn," said he,
"the passious of uieu observe uo bounds of mod
eration " Such is the experience of the pieseut
rtruggle. Moderation diminished as the war
progressed, and to-day schemes of subjugation
and extermination are entertained and advocated
which would hare shocked the sensibilities of the
nation at the beginning. The war has progressed
near three years upon a gigantic fcale for the
avowed purpose of restoring the Union, and if
the policy of the p irty in waging it should be suc
cessful it would probably terminateiu a dissolution
of the Union, for it cm uo longer be called a
Uniou wheu one wart ol it is pinned to the other
by biyouets, and held as subjugated provinces.
It is uo longer a government of conscut, but of
force not a Union compose 1 of independent aud
equal States, such as the Constitution designed
it. In alluding to the coercion of dissenting
States by the force of arms, HamiTox re-
maikcd: ,
A project of this kind is Utile less roirtantic
than the monster taming spirit, which is attribu
ted 10 the ftbulou heroes ami dctni srods of an
tiquity."
This was the opinion ol wise and patriotic men
who had emerged from a seven yc.fs' war, and
eil understood the dangers to republican iusti
stitulioiis which au appeal to the swurd would
develop.
It would be wise if the pre.-tt it Government
would heed the lessons of the Fathers of the
Republic. They clearly foresaw that wheu those
to whom were intrusted the administration of the
government left the moorings of the Constitution,
disregarded it obligations and permitted pission
to control them, there would be but little hope
for the preservation ol the government they estab
lished That condition of artVirs is upou us and
unless there is a speedy restoration to the old
pubs, the feirs that iI.tuii.rox expressed that the
first war of this kind w-u!d probtbly terminate
in a dissolution of the Union, may become his
tory. Trie only hope ot rreseiW:ig Americui
liberty an hfree imtiuitious is in the people being
once more guided by liie lessons of wisdom and
patriotism inculcated by the men who pledged
their lives, their tortuncs an I their sacred honors
lo achieve them
The interest 0 Hie .'State lcbt.
We see from ihe Si-ate Sentinel that Governor
Morton ad vertiMjs iIht, throagh Winslow, Linier
k Co, the interest on tie Sute debt for list
July, nod the interest filling due in January
nexi. win o.' p sia. 11 .Messrs. Wu.ttiuw, .Lrtiiier
,& Co., have concl'idei to pay such interest we
are glad of it As it is u voluntary payment
in ide for the Jsiate, wnhout authority, the peo
ple ot tne slate are 111 mi i-e bound to compen
sate the doners of ilie $.'1211.000. In thi arrange
ment, we very stroiii.lv mi qecl there is su at
tempt b' ween tae IJ veru.tr and the donors of
this m iaiticent gilt, sim l ir to that which ex
isted betwM:ii the G ernor and hs brother Bill
Morton, Mr. Vajen. Mr. Sulgrove and uthe-s, in
their coiilriris to ud t!ie General Government in
sustaining Jts credit lie fore the wolrd iu "sup
pressing tne retieii.oii.
If Winslow, Linier & Co , labor under the im
pression that the people of this State will quietly
submit to authority n-it conferred upon Governs
Morton, and fill contracts which he illeg.timate
lr enters into, tliev tnv find it difficult to get
their monty returned. 1 1 this tronb'e should en
sue, as we veriiv orneve it ni, we Ml in u ive no
sympathy i;!i thom if they should never receiie
a farthing of their advances, we shill not deplore
it, for the reason lint the are cogtiixuit of the
fact, that the hole transaction Itetaeen them
and G ivenmr XI ton is fraudulent and without
the authority ol law.
We are of opinion that the people of Indiana
luve not so far forgot their on State pride, or
the dignity of their tu iiihod. as to permit a lot
of officious and relfi-h iufermM-Ilers to assume
the cue nnd keeping oliheir affiirs. Asa
proper rebuke to Mich u laciou iuipci tinenre,
we trust and ho(e thu a prompt refusal miil be
given, ag linst the recognition of any pari or Jior
tion of this transaction, and thereby let Gover
nor Morton, ami Winsiow. LurerJkCo. know
that it is better that they attend to their own
business and let that of others alone.
In this connection, we desire to siy that the
loregoing is but a part and parcel of Governor
Morton's system. He h is inmaged to commit
the commissioners of some of the counties, so far
as to have them appropriate money out of the
treasuries of their counties for purposes not
knowu to law, to aid the Governor lo accomplish
his own corrupt purposes. Kvery doll ir thus
acquired from county boarns, was obtained ille
gally, WHS a fraud upon the taxpiyers a cor
ruption fund placed at the disposal of the Gov
ernor to aid in advancing his schemes to aggrau
dize himself. We ho;e the honest oppres-ed tax
payers of eich of these counties will refuse to
submit to a taxation that will refund to the
treasury one dollar of the fund so abstracted,
and compel the individuals composing such
boards and ihe treasurers of such counties out of
their individual means to return to : lie treasury
the sums they caused ti, be drawn therefrom for
such purposes.
W hope to hear of suit being brought against
them for this money.
The morality of the officers in the Republican
party seems to have tun riot in all kinds of out
rages; let them be mule to answer from their
estates for the amount of which, by their malfea
sance in office, the people were plundered
Covington Friend.
A Specimen of n I'olitlcal Clergyman
A irllitlBterlMl Wltticiaru
From the published proceedings of a recent
public meeting held iu San Francisco we copy the
following:
"Among the mary speakers of the evening was
Rev. Thomas Starr King. who. alluding to the
work of the Sanitary Association of the Pacific
Coast. Mid: 'We had rent $400,000 in fold to
suftWing soldiers at the Eist $4ci5.()00 rather,
through the blessed influence of Providence and
Salmon P. Chsee, and these two were a team
when harues."icd together."
The piety of the political clergyman Is well
displayed in the closing lines of the äbov in the
very reverent allusion lo "Divine 1 Yovidence and
Mr. Chase as forming a grand teim when har
nessed together." It rs no wonder that the
churches are losing the respect of the jieople
when such clergymen as King are its authorized
exponents -Cinclnnajjnqnlrer. " ' - -
, For tbe Daily PUte Sentinel.
The inequality ol Conscription.
t
In a TH-imitive state of socfetv, where the mass
of the people aje on nearly tbo same level as to
i -. e I.
property, tne inequality oi requiring irom cavu
man the same amount of personal service or its
equivalent, for the consti notion and repairing of
roads or for other similar public works, is scarce
ly noticed. In the neighborhood of cities, if
the greater part of the real estate near to such
public works is ia tue bands oi a lew persons,
this inequality is more evident : and in cities it
is so manifest tn&t the personal sei rice system
is not reported to. . -This system is not an 'equal
one because nseful public expenditures common
ly benefit the wealthy more than the poor ; and
if a nation was composed of poor men only, the
exjicnses of its government woald necessarily be
light : and besides this, poor men hare not the
same abilitr to ,"kx burdens for tbe tmbüc benefit.
(whether the tax ts one of time and labor or of
money ,) that ric men have, lo tax a poor
man as many days labor as a rich man is taxed
is as unequal as to tax both the same amount oi
money. The prineiplo npon which this system
is based, is that of placing burdens of the same
weight, for the public benefit, upon erenr man,
withont any regard to the amount of hü prop
erty. Ihe assumed obligation of every aide
bodied man, rich or poor, cither to serve in the
ranks of tho armv for a certain time or to tar
nish a snbstitnte, bears unequally more on the
two classes than the burdens just referred to.
The rich will nearly always procure substitutes
for prices which poor men are unablo to pay, but
which are often mere trifles to the wealthy ;
while the poor are forced into the ranks without
any opportunity of escaping. The poorer class
es may often feel that the system is an unequal
one, without obsenrin wherein the inequality
consists. It consists m requiring them to bear
burdens as great as arc imposed on rich men,
and m onermg as an altcrnatirc an opportunity
of escaping from personal service which only
nch men can avail themselves or.
In order that this inequality mar be more
manifest, we may transpose the substitute law,
without changing its provisions, so that it will
read thns, (and this is in fact its correct read
ing,) every able-bodied man that Is drafted,
whether be is wealthy or poor, shall be taxed
an indefinite amount, cxinal to the market priee
of substitutes at the time of tho draft ; but if
anv one Is so poor that he cannot par this tax,
he shall be forced into the ranks of the army for
three years. In comparing tho burdens placed
on each class, tho fairest method is to take that
kind of burden which is commonly chosen by
those who have money enough to permit theru
to choose, the price of the substitute. The same
amonntof tax, the price of the substitute, is nn
posed on the poor that is imposed on the rich ;
and as the poor man cannot pay it, he is com
pelled to work it out. It is trne that this money
is not paid directly into the treasury, but the
law makes it the equivalent of the personal ser
vice tax, and therefore it is in effect a tax levied
bv the Government. To an intcllitrent freeman.
however, scarcely anything can really lie the
equivalent of luvoluntarv servitude.
If the same principle was applied to the im
provement of streets and the construction of
other public works in large cities, its inequality
would be mannest to cverv one at a glance.
Suppose that cverv able-lmdied man in such
cities, whether owning a million dollars worth
of property, or living in a rented hovel, was
compelled to work the same number of days or
to hire some one else to work that number of davs
for him. It mightbc pretended that tho law
was equal because the same burden was placed
on every man ; but this U precisely what makes
it unequal, for the oor man has not the same
cd, if necessary, for alleged disloyalty.
These remarks arc not iutended to apply to
all the wealthy, for all of them do not approve
of the destruction of liberty of conscience and of
the independence of freemen by conscription acts
such as that now in force.
If it is said that patriotism should induce men
to serve willingly in the ranks, for less than their
services are worth at home, it may be asked,
do the wealthier classes manifest that patriotism
themselves.? If they did, in any jnt war draft
ing could not lie ncccssarv. To the wealthy, the
substitute law assumes the form of a jiccuniary
tax ; and to deal fairly, jjoor men should nlso lie
allowed the option of a pecuniary equivalent for
personal service so proportioned to the amount
of their property that it will be possible for them
to pay it. If they are not, the law punishes men
for being poor.
then slow in volunteering. ' Bnt if society is ben
efitted, those who procure the benefit should not
le made losers, above others, for the public good:
its cost should be equitably distributed among
all the tax payers.
What then is to bo done ? say the wealthy and
influential classes who ate in power. We will
not go into the ranks : wj will not consent that
these poorer men shall lc paid as much as their
services are worth at home; and if we permit such
an increase of wages, the same increase must be
made in the pay of the whole army. We will
compel them to go by a draft, for they will hard
ly bo able to pay tho market price of substitutes:
but to present some apjiearance of fairness, our
names also shall be enrolled. Wc will first
gamble to sec ujon whom the burden shall fall,
instead of dividing it proportionately among all
the tax payers ; and then after catching in the
net large numbers of men who cannot cs
cajo because they have not the money to
hire substitutes ;" those among the wealthy
who are losers by the ;rame, can avoid personal
service in the ranks by employing substitute?.
If any one shall attempt to influence public opin
ion, to have the conseäptioii law rejaialed, by
showing its inequality, we can have him irrcst
It may lie pretended too that even in just
wars, troops cannot always be raised without
conscription. Whether they can or not, the
principle of enslaving both the consciences ami
persons of men by ntrcmpting t compel them to
take human life in wars which their consciences
do not approve of, is wrong, and should never
be adopted. Cat if in a just war, snch wages
were offered as would lie an inducement to men
in moderate circumstances to enlist ; is there any
reason to believe thai 'the volunteer system
wonld ever be inadequate t Suppose however
that after the enlistment of those who were will
ing to accept lower wages, the pav offered in the
military service was found to be "less than those
who remained at home could earn in other em
ployments : this presupposes that men arc will
ing" to serve the public for less than their sen-ices
arc worth : nor would it bo strange if they were
ability that the rich one has, to pay taxes,
whether in money or in labor. The proper
method is to tax all in proportion to their
wealth, and then with the proceeds to hire men to
do the work for whatever their services are worth:
and this is the proper plan also for raising
armies. It may bo objcted that drafted
men have already been offered the same pay as
volunteers ; bat the amount of wapes for which
one man is willing to serve does not determine the
value of the services of another ; and there can be
no hiring where the service is compulsory
and the bargain is all made by one part v.
Men iu a state of slavery receive a certain
allowance at the pleasure of the master, but they
cannot 1 aid to be hired.
A fair and effectual plan for raising volunteers
in a just war, (and only such should be waged,)
would bo this; that those who are well off, as to
projierty, should consent that the wares offered
to volunteers should be fixed at as high a ratc aa
thev can possibly afford to pay; and if that fails,
and the wealthy find it more economical, they
can voluntarily go into the ranks themselves.
But if they will make no 6uch sacrifice of pri
vate interests for the public good, they should not
seek to force. others to do so.
The usual argumjnt for military conscriptions
is, that a draft appears to be necessary. But the
only reason upon which such a supposed neces
sity could be based, generally escapes observa
tion. Is it that the poorer classes fail to volun
teer in proportion to their numbers ! Xo ; onlv
that the classes who are better off have thus fail
ed. On account of this it will be said that a
draft is necessary. But will it usually 1 found
that such a draft brings into the ranks men from
the wealthier classes who have been slack in vol
unteering, unless as officers t Bv no means.
A draft commonly results only in forcing an ad
ditional number of poor men into tho ranks, who
lacking money cannot avoid service ; and in the
hiring of other poor men to take the places of
richer conscripts. The remissness of the wealth
ier classes in rendering personal service is
pravely made the occasion of ft plea that there is
a necessity for additional forcible conscriptions
from the poorer classes.
- Although it cannot be denied that it is as un
equal to tax a poor man the same number of
days service that a rich one is taxed, u it would
be to tax them both the same amount of money; it
may be objected that it would bo inconvenient to
draft men for terms of service of different length.
Bat this distribution of burdens in proportion to
property might be practically attained by provid
ing that if divßfd men failed to tntT ihe rank
tfSf thould U FINED, A XX EQUIVALENT, A
CKHTAIIf PROrORTIOH OF THEIR MOMITT,
a tenth, a fifth, a third or other proportion. This
would place the rich and poor, with respect to
the pecuniary equivalent of personal service, rel
atively on the same level. If the failure was re
garded also as a political offence, disvhax
cHiKttXT might Im eddd. Such a provision
would prevent also the destruction of libertv of
conscience ; for as no government is infallible, a
nation may at any time engage in a wsr which
many jnnt men cannot coiiscicrtiouslr approve
of or nssist in profecuting. And it las never
yet been found possible to bring: the opinions of
all honest men to an apreement with reference to
wars or political theories.
If conscription is retained ft alL it should le
with this modification, fining delinquents in pro
portion to tnetr propcrtv; lor DcmiIcs the in
equality of claining the same amount of person
ai service irom tne poor ana tne ricii, and tLG
destruction of liberty cf conscience bv forc
ing men absolutely Into the military f crfice ; if
no provision whatever was made in a conscrip
tion law, allowing any equivalent for personal
service, tnis would prove one of the very strong
est inducements to brifiery on the part of many
wealthy persons actnstomcd to a life of eae oir
unfit to enthrre hardships, in order to avoid
being dralled or to j urcl:ae f f mmisncns. As
to the proposed plan of repealing the three Lun
drer! exemption clause in the present conscripticn
law, this would render the provisions of the law
mucti more aristocratic than they now are; for
the wealthy would still employ substiiutes, while
that class of poor men who might le able to pay
three hundred dollars, but unable to pay a larger
snm tor snrsrirutes, would then be forced into
the ranks without any alternative.
Whatever may be their pretended object, the
real dehurn of conscriptions is nearly alwavs
either to force poor men into the ranks ; (for nt h
men scarcely ever enter the ranks, conscription
law or no conscription law,) or to persecute or
destroy honest men whose consciences do not
approve of the war in which a nation may at the
time be engaged.
A FitiE5i or Libestt.
STATE ITI:.VIS
Wood is selling in New Albany r.t $4.75 and
$5 per cord.
Capi. Pare, Piovost SIsrshsl for ihe t?th
District, estimates that there is yet 1.Ü00 men to
fill its quota under the last c.ill for troops.
The D emociscy of Dubois county meet on
the 4th ofjanusrv loFelect delegates to the Con
gressional Convention.
Seven saloons were closed at New 'Albany
by the po.-t commttvUi.t, Ust Friday, charged
with Sellins liquor contrary to law.
The sma!lr.ox it. fprediij at an alarming
rateiu the Indiana Peiuici ti;ti v, at Jt ffersotix ille.
Ten cases aie at j resent under treatment in the
prison hospital.
The Jasper Courier says that recruiting in
Dubois cotuty "is as chill as some of the Lincoln
measures" and ui s;es the loiing men to hurry
out of ihe drait and recure the M!endid bounties.
The Kuckport Democrat 6iys that one fourth
of all the name.- on the printed list of the names
duelled in th.it couety utject lo the draft aie
spelled wrong ind will not be answered to when
called for. This is certaiuly a bad spell.
The New Albany Ledper of Wednesday says
there are nearly six hundreJ recruits at Camp
Noble, in that city. They all go to the credit of
tbe Second District. It is thought the number
will be increased to ore thousand by Saturday
night.
Thomas Tinkll, sn old offender, has brok
en the Sj euer r t-oi.niy j v tw ii e. the lapt time by
picking a hole through the wail. The Rock port
Democrat suggests that Tom had better be per
mitted to run at lar-.-e to save ihe county esrenr e,
uutil the new j iii is built, lor the Grand Jury has
frequently reported the old one to be of no man.
tier of account.
Firm Disteht. HrciiAan Raleigh, E?q.t
Chairman of the Congressional Central Commit
tee, and iU behalf, has called n convention of tbe
Democracy of the First Congressional District to
meet in convention at Viuceuue. on the ih ol
Jauuary, to select delegates to the National
Convention.
The 54:h Indiana regiment returned to this
State on Ihe Sreimer Atlantic, which arrived at
New Albiny on Friday l ist Their time having
expired, they will be mustered out of the ser
vice. Sixty-nine of the regiment re enlisted at
New Oilcans, and mini of the remainder will
re enlist after spending three or four weeks at
home.
Pikk IVtMT Hogs The foüowinjr de
scribed bops from Pike county were recently
picked in Evansville: From Jamis Evans of
Petersburg, one weighing HOI pounds nett, and
teu. lt mouths old, averajriny JteD pounds nelt,
and one (rom Jamkh B.ibklb, weighing 735
pounds nelt The hogs aie what are called the
Chester Whet e. and w ere introduced iuto Evm-a-
ville by Mr Zkb a H. Couk, r.nd into Tike county
bv Goodlet Morgan.
DfcATli or Tilt Ol.ust Mam i the Nobth-
wtsr. Loi.is Diiile, one id' the old settlers of
Tippecanoe county, nnd conceded the oldest man
in llie Noithwcft i1 perh-ip in ihe Union, died
at IU rcsidet.ce in Jack son township, on Thurs
day hist. He was in e hunöicil and seven vests
hi He was Im.ih in ihe Colony of Virginia in
I75i He has M'lis over seventy years of age.
lie retained his faci.lt.es to a remat kable degree
lierond his ninetieth venr. ai d his sight and hear
in'; weie not much impaired at the lime of his
death. The funeral took place on Christmas
oay f Lnf.-i rette Courier.
Caxmltox An its BtbiNtxs The Cannel.
Ion Reporter thus reft rs to the business of that
enterprising town, iu ptoeiess and prospects:
The activity ol tl.c co.il bn.sine.- t th's place
Ims iio precedent Since L;ilineIfon was a coaling
point. 1 be lerage Imly
banks ire ss follows:
D Newcoinb & Co
W. E & C. Cl .rk
K rWvth..
jie'.ils if the tiifltrctit
.7,000 bush.
. 400
. 600
. 400 "
. coo
..7.2W) "
Chas Hern ,
Patrick Mcll-m
American CskiicI CJojiI Co.
Total
10.200
Which, at 15 cents per luishrl tb3 price receiv
ed at the liver, makes $l,f:-,0 rer day, or $474,
300 per annum, nearly one-half million dollars.
Besides this, every other brunc h of business ia
poshed to its utmost craci'v. L-ibor is in de
mand and rates hih. iliroly a steamboat lands
at our wharf, without teavinc from one lo fifty
persons who hnve n-me brie to locate. Real
estate is rcctiving a great imretss nd tenant
bouses hre in treat demand. The merchants
were never so busy and their stores and ware
houses are filled to ova flow ing with goods of
every description. 1 his is the time for our c:ti
r.ens to wt-ke up. The enterprise of tbe place
operating for one united purpose can soob place
Cannelton ami Perry county on a ptr with Xew
Albany and Flojd county in wealth, enterprise
aud population.
Joiinsox CorxtT. Pursuant to notice, a
meeting of the Demotracy was held ia Franklin
on December 26. for the purpose of appointing
delegates to ihe Eighth of January District Con
vention, to be held nt Indiana; olis.
On motion. W. S. ltaysdale was elected Chair
man, and D. D. Uinta Secretary.
On motion, two delecates and their alternates
were appointed from each tow nship, and two froan
the county at ltrpe, to represent the Democracy
of Johnson in the Eighth oi January District
Convention.
The following is a list of the delegates ap
pointed: Franklin Township D. O. Vawter, ü SI. Al
exander. Alternates W. H. Barnett. John
Whiteside.
liiue River Nicholas Branningsn, James
Kelly. Alternates William Sied. Charles W.
Snow
Nineveh George White, William Pochard.
Alternates J II. Pudnej, A. V. Pendleton.
Ilenaley O W. Muselman, Warren Cole
man. Alternates D. Montgomery, Samuel
Green.
Union John Harris, Henry Demarew. Altar
li ate GeorjjeGandiwIier, Peter Dcmaree.
White River Dunel Dty, Jacob Dowell.
Alternates James Collins, Ephraim Wyrick.
Pleasant John A. Polk, Hiram Ii eery. Al
ternates Dr. llibbs. 0. D. Eceles.
Clarke George Cutsinger, H oratio Jones.
Alternates Peter Heck. J. R. Carver.
For the county it larre W. H. Jennings,
Franklin Hardin. Alternates Dr. L C. Gary,
Dr J. T. Brenton.
On motion it was ordered that sn abstract f
the minutes be published in the ttewtinel and
Herald, whwa the meeting adjourned.
W. L. REYSDALE, President.
D. D. Basta, Secretary,
!l

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