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From Urn Union To theBditor ofttoVMoa. Sib : On my return from New York a day or two aince, a friend in this city placed in my hands the following extract from a correspondent of the Journal of Commerce : Mr, Benton proposed in his speech the other day to give Texas fifteen millions; but she will oe content with ten, and her creditors have agreed to take eight. One of the modes in which hostility to any adjustment is manifested is by representing the offer to Texas as bribery and fraud; and it is even alleged that members of Congress, and politicians influential jyiih Congress, are interested in Texas funds. tu a, jv? en,.tk~rn ?i_ * ?*v VUVigg VV/II1W9 A A VIII me K/yubuvi II MI tras and the Northern Abolitionists. Mr. Wallace, of South Carolina, makes it in his letter to his constituents. One Southern gentleman, who ia as ultra as Mr. Wallace himself,* and who was selected by the governor of South Carolina as the successor of Mr. Calhoun?I mean Genera) Janes Hamilton?is said to be interested in or to represent a portion of the stock. But no friends or promoters of the compromise scheme are at all interested in it, so far as I have ever learned. It is only this morning that 1 have been able to obtain a copy of the letter of Mr. Wallace to bis constituents, to which the above paragraphs refer. Whether, in the language of the New York correspondent^ 1 am as ultra as Mr. Wallace, 1 think it needless to stop to in IJUirCj UUl II liic tuui|;aiiiH.Hi ncio icvoidcuj perhaps the constituents ot that gentleman might regard it as a very equivocal sort ol compliment to his discretion to be deetned as ultra as myself. As, however, the very stringent bill of indictment which Mr. Wallace has preferred against the bond-holders of the late republic of Texas, the correspondent of the Journal oi Commerce has applied somewhat personally to myself, I feel it a duty I owe at least to the interests of those I represent,, if not to my own character, to notice as briefly as possible Mr. Wallace's letter. I do this in no spirit of unkindness towards that gentleman, whom I know to be an able, and 1 believe to be singularly honest and most worthy individual, not a little prone by the force of opinions honestly entertained, to that occasional inflammation to which we are liable who happen to live in the parallel of 32 deg. 50 min. and in the 79th degree of longitude west of Greenwich. As no one has probably suffered more under this fever than myself, there can be none more ready to forgive it in others. r :n tvjt- aat~ 11 I will) iijuieuvei, uu uuiu irii. auace and myself the justice to believe that the paragraphs which I am about to quote, and on which I am about to comment, were written without a direct or even remote allusion to myself. Our intercourse in this place has been too kind and civil (I may say, almost at the death-bed of our late illustrious and distinguished countryman) to justify such a belief. If I could entertain such an opinion, I think Mr. Wallace knows enough ol me to be convinced that I should not have selected the columns of your paper as a mode of seeking either vindication or redress. What I am going to say shall be said without one particle of personal disrespect to that gentleman; for however we South Carolinians may sometimes wrangle at home, when we are in a land exterior to our own, the generous and noble sympathies which belong to the country which gave us birth, unite us in fraternal affections which are seldom to be violated, or, if violated, their violation to be always deplored. But Mr. Wallace has made a very rough onslaught on a very unfortunate class of sufferers, known in common parlance as the public creditors of Texas, whose griefs, without a profane interpolation, might constitute a new chapter in Job, if we could only have the benefit of the labors of that great and inspired historian of human wo. But as we have no such help or " appliances to boot, " I must perform this office, however imperfectly, myself. In its performance, Mr. Wallace must not expect, as old Dennis says, to have " all the horss play " to himself. " He who plays at bowls must expect to meet with rubbers." I say this, sir, without a premeditated vindictiveness or " any malice aforethought;" for I assure you, in all sincerity, considering the weakness of Mr. Wallace's argument, I am somewhat relieved that he has not put more strength in his virtuperation. I will now recal to your readers what Mr. Wallace says on this subject. It will be seen by the length of the quotation, I am disposed to do entire justice to the argument of Mr. Wallace, whatever may be its force. He rays: "Next in order is the purchase from Texas, a slave State, of 79,000,000 cf acres. If this territory be purchased, it will thereby j be taken out of the compact of annexation, j and placed under the jurisdiction of the AboJifipn Government of the United States; and who can doubt for a moment that slavery will be abolished in it, and that it will be formed into at least three free States, and brought into the Union??for they can get into the Union no other way. This is one design of the scheme. That is, to take the Texas territory, abolish slavery in it, and dupe the South by making tbem contribute their share out of the public treasury to pay for it. Mr. Clay holds to the doctrine, that if it be purchased, slavery will be excluded by Mexican laws. "There is another feature of this proposition which I will now bring to your notice. . When Texas was admitted into the. Union, she owed a national debt of about ten millions of dollars. She reserved her unapnrnnriated lands to Dav this dnht* Th#? hill proposing to purchase these lands of Texas provides that the purchase money shall be first applied to the payment of the same debt. This proposition?which is, in fact, a gross insult to Texas, as it clearly implies that she cannot be trusted with the fund, to dispose of it as her national faith shall demand?has in it another secret object. "The evidence of the national debt of Texas is in bonds. These bonds are held bv many perseps other than the citizens of Texas. They have been bought up perhaps by adventurous speculators, at great sacrifice, below their par value. The proposition to pay the money for these lands would, under any circumstances, involve a design of bribery and corruption. To propose to pay it directly to these bondholders at the public treasury, is a direct, attemptto bribe every Texan bondholder in the United States to the support of the whole scheme of adjustment a* a unit. Who are tbeae bondholders? Are any of the high func tionariea of government stockholders ia these bonds? Who will answer this grave inquiry? How many agents of these bondholders are lobby members, and who throng the purlieus of the Capitol, ready to grasp the promised spbils ? Tons of silver and gold are at stake upon the issue made by Mr. Clay's writ in partition of the public treasury. All of a sudden the productions of a numerous list of letter-writers crowd the pages of the " Union," who discourse eloquently about the proposed plan of capitulation, and the South are, in etfect, gravely told that, inasmuch as defeat is certain, they had better accept Mr. Clay's plan ot settlement, as it is framed to enable the South to surrender with the best possible grace.? Th?w in ftffar.t. admit that it in an undid guised capitulation; but Mr. Clay, who is now the great Free-Soil leader, magnanimously concedes to us the honor of marching from the held, with our swords drawn, our drums beating, and our colors flying. "To Massena, the marshal of b ranee, a similar concession was made at the seige ot Genoa. When bis soldiers marched out ol the city, they were covered with rags and vermin. They looked like spectres oi men, to such a deplorable condition were they reduced by famine and pestileuce. They staggered under the weight of the arms they had so nobly used in defence of their country's honor. They deserved a better fate. But were I to accept in your name the terms of capitulation now offered by Mr. Clay, 1 should, in my judgment, deserve a worse fate." 1 shall in some degree reverse the order of this category of ills, if I am compelled by the continuity of the narrative to end with the seige of Genoa and Massena's ragamuffins. Mr. Wallace says that when Texas was admitted into the Union "she owed a debt of ten millions." This is a small mistake? immaterial, however, to the issue. She in point of fact owed a debt of fifteen millions. He says a proposition to pay this debt by the Government of the United States, as an .equivalent for a cession of territory, would involve, 1st, a design of bribery and corruprinn (\ nrp?iimf> nf Tpvan tn rpII Kpr lnnrl'^ < ""*? I ? idly, to bribe every Texas bondholder to iupport the whole scheme of adjustment as i unit; 3dly, that the provision in Mr. Clay's bill, that the bonds for which the Government of the United States is considered responsible should be first paid, is, in fact, " a gross iasult to Texas;" 4thly, that these bondholders are " lobby members, who have bought up the securities they hold at great jacrifice below their par value, and who throng the purlieus of the Capitol, ready to grasp the promised spoils"?yes, "tons oj Iold and silver;" 5thly, that the purchase ol 79,000,000 acres of slave territory is to make chree free States, that they may be brought .nto the Union; for they can get in, in no jther way. 1st. Of the design of bribing and corrupting Texcs. It certainly involves I should think, a very small portion of moral obliquity to afford an inducement to people to pay their just debts. It is a pity that the world ?vas not a little more open to this species of corruption. We should have more honest men and fewer rogues. But Mr. Wallace happens to forget that for a large portion of this debt of Texas? yes, fully three-fourths of it, the Government of the United States is responsible, not only on every principle of national faith, public and municipal law, but on certain canons ol common honesty, which Don Fabricio himself, in that amusing history ofhuman nature, known under the title of Gil Bias de Santillane, would not be inclined entirely to repudiate. For the payment of this portion of the public debt of Texas, the then republic solemnly pledged her revenues arising from custom-house duties. By the articles of annexation, the Government of the United States very quietly appropriated in perpetuity the whole of this ample and immediately productive fund to itself, and by a compact between Texas and herself, remitted without their consent, the creditors of the latter to the public lands for their payment. I had the honor, under the appointment of the revenue bondholders, to prepare and present the memorial to both houses of Congress at the commencement of the present session of Congress. I beg leave to submil a brief summary of the argument comprised in that memorial, which, in my humble judgment, establishes the liability of the Government of the United. States to the revenue debt of Texas beyond the possibility of refutation: " Your memorialists do not think it necessary, at this moment, to discuss, how far, under the law of nations, the Government of the United States had a right to stipulate against a general liability for that portion of the public debt of Texas for which her public lands and her public faith and credit were alone pledged. It is quite sufficient for our purpose to affirm that our security for the payment ?f her debt to us is not to be impeached by any such stipulation. We held a specifie pledge of her revenues arising from her custom-house duties, and contend that that security has neither been annulled, defeated, r.or impaired, by the act of annexation, nor by any stipulation between Texas and the United States, " that the latter was in no event to be called upon to pay the public debt of the former." "This assumption is founded on the fact that we held a lien on all the revenues ol Texas, prior to her annexation to the Union, connected within her limits, and that this lien must continue through all time, until the interest and principal of the debt we held is finally paid oil and extinguished. "A stipulation between the United States and Texas, that the public lands of the latter should be the only source from which hei public debt was to be paid, is surely not binding on us. We were no parties to this stipulation, nor was our consent asked to relinquish our lien on the only certain and productive fund for our navment. and take a sc curity of remote and doubtful availability. "But, whatever may have beep and may be the value of the pledge of the public lands of Texas, we had that security already on which the articles of annexation conferred no new obligation. "The United States, therefore, could have taken a cession of ti e revenues arising from the custom house duties of Texas only cum outre, burdened with the mortgage we hold. " We respectfully urge that the inviolability of our right could only be permanently invaded by a breach of the public faith. "The invincible strength of the principle i for which we contend mey be illustrated Dy a case between private individuals. "What court of equity or good conscience would tolerate or permit a roort?*?er; without ' the consent of the mortgagee, to extinguish < the mortgage on a valuable and productive ' security by a sale, even for a valuable consideration to a purchaser, with notice merely < by covenanting to substitute another subject of property, unproductive and valueless, for an indefinite period ? Nor would the iact that this subject of property, inferior and unproductive, was embraced in the original mortgage, furnish even a plausible pretext for depriving the creditor of his valuable pledge, and postponing bis payment idefinitely. "A principle so manifestly unjust could not have been contemplated by either the republic of Texas or the Government of the United States. "The stipulation against the assumption ?r v ? tu 11. VI illV f/UVUV, VJ V V V VI A V A U 9 1/ J lllw VIIUVU States was against a general liability. It. would be impossible to suppose that, as the debt we hold is charged on the revenues of Texas arising from customs, the United States would in pepetuity appropriate these duties to herself, without ultimately providing for our payment, .and satisfying a mortgage now resting on the imposts ol Texas under the highest sanctions of the public faith. "Our right remains as unimpaired since the act of annexation as it was before. "We cannot believe that either Texas or the United States intended any act of injustice towards us; yet it would be eminently unjust for the United States to receive from Texas a grant of her custom-house duties with a purpose of defeating our lien on them. "Between man and man, justice will not j permit any one to destry another's right, by | contracting for the purchase of a title with a person that is known to be under a legal and moral duty to others, inconsistent with that title. The law will not sanction a purchase made in prejudice to another man's right. In our case the principle applies with all its force. VVe trusted Texas on the security of her custom-duties, and the United States received a transfer of these duties, with an exclusive and paramount faculty ol levying them as long as this confederacy shall last." Others may add to the force of this argument, I cannot. If it be valid, the Government ot the United States, by Mr. Clay's adjustment, is to receive a 'compensation ol some seventy or eighty millions of acres ol land, which, at twenty-five cents per acre, would be worth some twenty millions oi dollars, as a bonus to pay a debt of its own of some tenor twelve millions. Yet Mr. Wallace thinks this bribery and corruption. If, however, this should not be a correct inference from his argument, the acceptance of this cession and the payment of this money '9? j 2d. To " bribe every Texas bondholder [ to support the whole scheme of adjustment as a unit." Mr. Wallace, I am quite sure, did not intend to designate me as this integrated and potential unit, although the correspondent ol the Journal of Commerce would seem to give color to the inference that Mr. Wallace did intend to charge me with this guilt; yet he has the charity to absolve me from its turpitude, by affirming that I am as great an ultra as Mr. Wallace himself. Unit is certainly for myself a very unlucky term ; for 1 believe, under the kind: ness and confidence of others, I am almost I rL? -4. i_ * I 1 me uiuy ugcm ui me ueui who uus appeureu at Washington since the meeting of the bondholders on the 11th ot February last, to represent the debt in question and to advocate its payment. Where the other bondholders who have thronged the Capitol are, I am at a loss to conjecture. Whether 1 have been bribed into the support of Mr. Clay's bills will appear from the following brief summary : The memorial which I presented to Con gress, and which was referred to the Committee on the Judiciary in both house#?tlr. i prayer of the memorial neither asked, anticipated, nor had any reference to the scheme of Mr. Clay. That gentleman-had offeied his resolutions of adjustment before he presented our memorial. The prayer of the memorial does not ask his scheme of compromise. I beg leave to recite its prayer: "In reference to their own debt your memorialists respectfully pray, that as the principal part ol the impost levied on the consumption of Texas is collected at New York and New Orleans, by proper enactments you call for a registry of our bonds at the treasury of the United States, where they are alone to be transferred, and give us for the semi-annual interest coupons, debentures on the custom-house at New York and New Orleans receivable in payment of the public duties, or payable in cash at the offices of the assistant treasury in those cities; and that the receipts of the custom-houses in Texas be set apart as a permanent and accumulating s nkingfund for the final extinguishment of the nrinciDal of our bonds?without, in deed, you should prefer providing by law for an issue of bonds of the Government of the United States, bearing an interest of six pel. cent, in equivalent amounts to the bonds we hold, redeemable at the pleasure of the Government, in full satisfaction of our debt. It is quite true we suggested to Congress the probability that Texas would willinglly cede'to the United States the proprietary interest in her public lands, without any allusion to a cession in sovereignty for the payment of her public debt, as will appear in the concluding paragraph of the memorial; which reads as follows: "We believe, from the recent official declaration of two of the governors of Texas and infallible tokens of public sentiment among the people, Texas is prepared to cede such portion of her public lands to the United States, (which doubtless, in the end, would vastly transcend in value i the amount of her debt,) that it may be paid in good faith to her public creditors. If Texas lias not pressed heretofore on the Government of the i Union formal proposals providing for this object, i it has, perhaps, resulted from a feeling of delicacy i and pride connected with the stipulations con- i la in en in the articles of annexation. But it is i known to your memorialist that her people great- I lv desire to do amnle malice to iheir mihlic rrcrli- i tors." i Ami here permit me to remark that, when the Government of the United States took the whole of the custom-house revenues, they lookout of < our possession, without our consent, the whole of . the available security which we had. Nearly all I thepublicdomsin ofany value within the whiteset- ' dements had been appropriated by actual settlers, t or had been patented to those holding land cerlifi- t cutes. If wf had sought the public lands in payment of our debts, wc should have had, at great t risk of life, without the smallest military protec- < tion, to penetrate a remote und savuge territory, over which the Indiana roam with a degree of li- t cense which finds its parallel alone in the rude t wanderings of the ancient Scythians. To us, < these lands would be utterly valueless. To the I United States, it would be the reverse, from the t means of the government to survey and sectionize .? them, I would not take them at two cents per i acre. Indeed, without the risk of exchanging the 8 parchment of our patents for the covering or our t cr&niums we cannot secure their location. Yet r Mr. Wallace proposes to turn the public creditors i of Texas over on these agreeable bowling greens, t to play scalp-and-tomahawk with the Indians, tn c / Ju 1 ?- full s&Ua&ction of our respective debts; whilst the 1 custom-house duties of Texas, to which we have | a legal as well as morel claim, shall be applied to the lips of the exhausted treasury of this poor 1 Government of ours ? By sanctioning a spoliation and proceeding j like this, Congress would virtually repudiate the < whole of the Texas debt, aad in point of fact t leave us without remedy in the premises. In case i our Government does, however, indulge in this I repudiation, 1 will make afttir offer to Mr, Wal- I lace. If he will go into the Indian territory I of Texas, and undertake the location of the t lands in which 1 should be interested under this t mode of payment, I will give him one-half of the < whole for his trouble. It is humane that I should 1 give hiin notice that 1 doubt whether he would I locate enough land to bury him before Bowlegs, I or Red-stick, would have his scalp hung up in I his wigwam of buffalo hides, as a curious sped- < men of the once capacious covering of the line ( frontal development of a Carolina nullifier. i But, to return to the bribery and corruption'of i the Texas bondholders an m unit to support Mr. < Clay'? adjustment. As I believe I have been al- | most the sole representative here, let me speak ; from the card. - I My friend, Judge Butler, chairman of the Ju- < diciury Committee of the Senate, will do me the I justice to say that I have urged repeatedly the ac- < tion of his committee on the memorial 1 presented ] to Congress, totally irrespective of Mr. Clay's < bills, because I do not wish this measure of just < indemnity blended with political questions, which might defeat it. But both himself and Mr. Thompson, (of Pennsylvania,) the highly distinguished chnirman of the committee in the House, have said thai it was hopeless to expect the action of their respective committees until Mr. Clpy's Adjustment should find its final solution, and it should be seen what disposition might be made of it by that measure. Now. 1 will go one step further in relation to Mr. Wallace's unfounded charge. I do not believe that a single Texan bondholder had solicited a single member of Congress to support Mr. Clay's Compromise. At least 1 can soeak authoritatively Tor myself. -As an humble citizen of this country, and certainly as a Southern man not very liable " to sevee fits of moderation," I be~ leave to say, without essential modification, Mr, Clay's plan would not have met my acceptance, however 1 itight approve in some respects of the general outline or pacification involved in that scheme, or (lie patriotic motive which dictated its preparation. That gentleman, with the indulgent forbearance which always belongs to genius and often to conscious power, at an early period of the session, allowed me to suggest to him a scheme of Adjustment, but which lte thought, perhaps, too strongly Southern to authorize a hope for its adoption, however much he might have approved of some of its provisions. 1 think, therefore, that Mr. Clay's decoction of tin; (or ns the gentlemen of the fancy have it,) of "blunt," has not been so potential a drug in seducing us from our allegiance to the South as Mr. Wallace supposes. Whilst 1 have looked to Mr.Clay's plan of adjustment as a scheme which in its progress might be so amended as to tranquilize tne country, 1 huve always at the same time looked to the ultimate payment by the United States of the public debt of Texas, for which her revenues had been pledged, as beyond the contingencies of Mr. Clay's bill because it rests on obligations so man ifest as not to be susceptible of violation, except by a gross breach of national honor. 4thlv. That the provision in Mr. Clay's bill, that4 tne bonds, for the payment of which the Government of the United ^States is supposed to be responsible,should be first paid, is "a gross insult to Texaa." If the pride of Texas is offended by this provision, I snould regard her us far more testy than Sir Anthony Absolute in the play. But whether in a sale, considering that the subject matter of the sale is specially mortgaged for the debt, and for which the vendee is specially liable, he has not a right to stipulate, without offending tli* self-love of the vendor, that he shall take up this lien out of'tlie purchase money, I think a lawyer would be ut no loss to decide, however difficult the problem to a preux chevalier, whose optics might be fur more accute in discovering insult and indignity. Hudibras says that pigs can actually see the wind; and there is no knowing how little a man can see who wishes to be blind, or bow fur by extending his vision to see what no one else can see. 5thly. That the bondholders are lobby members, who have bought up these securities they hold at a great sacrifice below their par value, "who throng the purlieus of the capitof, ready to grasp the promised spoils." Yes, "tons of gold and silver.' There are two affirmations of matters of fact, in this statement which are worthy of the serious consideration of Mr. Wallace. Who are the bondholders who have thronged the Capitol, so much to the annoyance of honorable members in passing through the lobbies to the Restaurants to take their veal cutlet and punchIt has not been my good fortune, with all the sympathy which belongs to common sufferers, to have seen one solitary bondholder howling about "the purlieus of the Capitol " Perhaps Air. Wallace thinks every man he meets in the rotunda aTexnn bondholder who has a suspicious appearance, more especially if lie bus a "lean and hungry look." I can scarcely bring myself within the category of a lobby-member, as l happened to have the privilege of an entree on the noor of both houses, and ceftainly I have not disturbed the tranquility of any gentleman who happens to receive eight dollars a day and his mileage, with the privilege from a high place of abusing those who happen to be outside of the Capitol. Has Mr. Wallace taken the trouble to inibrm himself whether the bondholders of Texas are indeed a gang of adventurous speculators, who have bought up her securities at a sacrifice far below their par value ? Let me give that gentleman a few facts in the place of his conjectures. The State of Texas has taken due precaution, by instructing her auditor and comptroller to report a scheme of reduction for the payment of their public debt, by which o nominal debt is reduced one-half in amount; by which the bonds are not to be paid by the obligation on the face of them, but by what at a period of great need the government received on these securities when their credit was at some 80 per cent, below par. So that it will be clearly perceived that 1 exas is likely to take effectual measures to prevent adventurous speculators fYom receiving tne fruits of their fraud, to wit: by receiving what Texas promised to pay. Let m# tell the gentlemen, that on three-fourths of the large debt that I represent here, Texas received par on every farthing, and that the balance (the other fourth) she has made par by a special covenant under seal from the extreme value of the loan, at a moment of great peril in her history. Even this latter loan was scarcely negotiated at a larger discount than the Government of the United States were compelled to borrow during the war of 1812. Gthly. That the purchase of 79,000,000 acres of slave territory is to make three free Stutes, that ; they may get into the Union; for they can get in in no other way. Now, sir, 1 do not consider the Texas bondholders as in the smallest degree responsible for this purchase. Mr. Clay iiu/erted this provision < in his bill without consulting us, and I do not know that our claim should be prejudiced by the i odium which is attached to this meditated transaction. Mr. Wallace may rest satisfied, even if the Government of the United States should be willing to buy, Texas will never sell below 36 deg. 30 min., except it may be with a slight deflection front, or curve run in, the line, to enable the inhabitants of New Mexico to retain their ancient capital of Santa Fc. All above 36 dcg. 30 min. is destined, on being formed into a new State, to be a free Stute by the articles of annexation. But suppose, after this cession and during the territorial condition of New Mexico, a sufficient number of Southern emigrants for the purpose of working the mines should go into New Mexico, and determine to establish slavery among her institutions, what becomes of Mr. Wallace's objections? Slavery will be governed by the laws of physical geography rather than by a. code of ethics. All that the South contends for is, that it shall not >e excluded by the political organization in the l'erritorics from their enjoyment. On this point ivery Southern man is prepared to nail his colors jo the mast, Ono would really suppose that it was seriously neditated that the General Government should inter the limits of Texas like a press-gang, on rower Hill, knock Texas down, and compel her o swallow a dose so uncomfortable to digest as welve millionsof dollars. It is alleged that a sale >f her territory would involve great national disionor to herself. Georgia sold her territory to he Government of the United States at a cost of tome fifteen millions?ont of which the States of Vlabama and Mississippi were formed without iny such imputed humiliation. A plain man, inder the influence of this species of Quixotism, night think that there would be for less discredit n Texas selling her land than in leaving her debt inpaid. We wish no sovereignty purchased for e >ur payment, but that the <ftbt should be paid r with the least possible disturbance to the public peace. It is high time, sir, that I should bring this ong narrative to a close. Mr. Wallace thinks if we accept Mr. Clay's Adjustment, we shall acquiesce in a dishonorable :apitulation. Let us see what this Adjustment is .0 be beflire we make up our judgment. If we Hibmil to dishonor, we shall have nobody to dame but ourselves for our craven cowardice. Massena may have marched out of Genoa with tia troops covered with rags and vermin, or in <ilk? perfumed with cologne, but what is that to m, or "to Hecubu?" I am sure, if we are iestined to march out of the Capitol, it will be uvith neither, but with our side arms, "flags lying and drums beating," as Mr. Wallace says. I am sure, at least, my friend Mr. Wallace will h> one of the nioat portly-looking captives that ?v*r come out of u besieged city?fat and welllicssed, and not an <ifflnsive iiuecl within I'ortv bet of him. Now, sir, suppose we of the South tre prohibited by the Wilmot Proviso, or any ilher proviso, from hiking our slaves into the territories?rlhe common property of the people ol ill the Stales, or thut a State with slave institution*, with nevertheless a republican form of government, should be denied admission into this Union. Mr. Wallace and myself at least know jite Stat* which would not ask Mr. Clay for the honors of a capitulation, or apply to a Nashville Convention for instructions. She could walk out of the Union and stand bv her arms; and 1 think 1 should pay both Mr. Wallace and myself a poor compliment, if I did not believe our position would be easily debited in such a conjuncture. With u firm conviction of the truth of this declaration, I ant not the less sensible of the policy of an honorable pacification of the painful controversy which now divides the people of thisxouiiiry. 1 do not think it wise or well tempered to denounce those who may differ in opinion with us rather on matters of detail than principle, or still less to speak disparagingly of those who, if they cannot do every tiling for the South, are prepared to do all they can. It does not belong, 1 hope, to whut I believe was (Rice the ancient chivalry of South Carolinu to stigmatize, as a base scheme of knavery, intended for no other purpose but to cheat, an Adjustment which comes from a man who is now verging on eighty?on the brink, perhaps, of a grave, which whenever he finds it will be an honored one?the splendor of whose genius is a fit garniture for (he loftiness of his spirit?a scheme which has summoned to its nid another gentleman, the noble benevolence ol whose heart and whose august intellect have not sheltered hint front persecution and inlUntous slander at the threshold of his own home, for during to sny one word in the spirit of peace for his distracted country, or one word in a spirit of justice for us?a scheme which numbers among its adherents those who fearlessly are sacrificing ihemseLjrt's at home in the effort to protect our rights tuid interests here. No, sir, 1 cannot come up exactly to the pitch of this proscriptive denunciation. If Circumstances had permitted me to have accepted the seat in the Senate of the United States from South Carolina which wus offered me, whilst 1 should have borne a perfect loyalty to the principles, and sentiments, and wishes ol the people 1 represented?for this is a crisis in which I could have occupied no middle ground? even at the sacrifice (if need had been) of my own interests ; yet I should have felt, with the more matured views of hitman life, that in being conscious of the integrity of my own motives, it was at once an office of humanity to have some little Ciiiiriiy in lmerjirciiiig iiiuwc ui mucin. Mr. Wallace has certainly laid about him with an indiscriminate, (and he will pardon me for saying) with a somewhat uncharitable violence, toward a class of persons whose course has at least been free here from all olfence, and whose misfortunes should rather have recommended them to his sympathy. He is my countryman, and I part with him now rather in good humor than otherwise ; although in the comprehensiveness and minuteness of his sweep, he has been something like that great, but capriciously tempered animal in the show, who, ir he sometimes uses his lithe proboscis to pick up a pin, or draw a cork from a bottle of brown stout, often employs his truncated and sinuous organ for a widely different purpose.? And to us poor Texan bondholders, wno have received a wipe from this terrible instrument of flexibility and tension, it is even but a poor consolation, in prowling about the purlieus of the Capitol, in our flight to exclaim, "We have seen the ELEPHANT!" I remain, sir, very respectfully, your obedient servant, J. HAMILTON, of South Carolina. Washington, June 25. Ttlegraphed to the Arte York Herald. The Great Telegraph Case. Boston, June 24, 1850. r. 0. j. smith vs. hugh downing and others. This trial, previously noticed, has now occupied the attention of the United States District Court for the Eastern Division of Massachusetts, for nearly a week. Hon. Levi Woodbury, ol the Supreme Court, presides. The action on the part of the plaintiff consists in an application to the Court for an injunction against the defendants, for using House's printing telegraph, which is claimed to lie an infringement of Morse's patent. . Chas. L. Woodbury, Esq., opened the case for the defence in an able and ingenious argument, adducing the testimony of various scientific men, well versed in electrical sciences, to prove that Morse's claim, in his patent, was too broad, and included things previously discovered by others; and in no respect did the invention of Mr. House infringe or interfere, in the slightest degree, with Professor Morse's invention of his telegraph machine. Mr. Woodbury was succeeded by Mr. Gilford, of New York, on the same side, who has consumed the best part of four days in a veryable and argumentative speech. He has gone elaborately into the whole history of electrical discoveries having a bearing upon telegraphs?show ing what progress had been made in Germany, and other parts of Europe, prior to Morse's first suggestion on the subject. He also adduced the evidence of Professors Henry, Renwick, Jackson, Silliman, and other scientific men, which he said proved what Morse could claim and could not claim. He said that House's instrument entirely differed from Morse's?that it interfered with no principle, or parts, or part of apparatus to which Morse was justly entitled. He also went into careful and minute analysicnl descriptions of the two machines to show that House's was organized and worked in a separate and distinct manner from that of Morse. He contended that electomagnetic motion was a motive power discovered before Morse ever thought of telegraphs, and that he could not make it the subject of a patent. He then went into an able and masterly review of Morse's old patent, and of his celebrated re-issue, and endeavored, from the documents themselves, to show their weakness and invalidity. The whole speech would amply repay perusal. Mr. Gifford will probably close to-day. He will be followed to-morrow by the Hon. Rufus Choate, for defendant#. After whom the counsel for plaintiff will be heard, viz: P. O. J. Smith, snd R. B. Curtis, Esijrs. From the Pacific News, May 15. Commercial and Financial Affairs. Until the disastrous fire of the 4th instant , business improved rapidly. Purchasers from the surrounding country were buying to a considerable sxtent, and staple marketable articles found ready iale. Flour had advanced in price, and remained iirm with an upward tendency. Money was dedining from previous high rates of interest, and owns offered, where securities wsre undoubted, is low as six per cent, per month. The lumber market was nllYiost entirely inactive, trade sales rare, and forced sales for payment of freight the mly transactions of moment. The cargo of the Susan Dove, sold just previous to the fire, averaged J40 per m. ; and although the lumber was partly of i !-. J.... : i i : mpruTCU ivjuun, nun u?nijini?uu suiuc iiuusts, me talcs wu generally considered an advance upon previous rates. The occurrence of the fire completely suspended business operations for one day, and partially iheekcd them for two or three days; subsequently, md during the whole following week, with some exceptions, its depressing influence upon the narket and business matters, has been apparent. Holders of money immediately claimed advanced ates of interest; holders of real estate, in business ocations, advanced rents, anc^ "Valuation; prices )f lumber from the yards adfanced 100 per cent., md of bricks and some other building materials n about the same proportion. These advances lave not all been sustained. Capitalists have 1 alien back from rates of interests first claimsd, he fire having curtailed many opportunities of nvMtment upon securities before considered un- I loubted. < fCy-Talking of "enlargingnewspapers, the < editor of the Chicago Journal suggests , that it's < iot the largest calf that makes the best real. From the Florence (Jila.) Gazette. Wa?ihnutow, May SB, 1850. Dear Sir: Since one of the editors in the district which I have the honor to represent has charged me with sentiments not friendly to the * Union, for no other reason that I can discover, 1 unless it he my exertions to hinder and delay f abolition movements, 1 now ask you to publish my opinions upon the new scheme of president- 8 making?called union, compromise, concession, f adjustment, fraternity, and equality between North and South, black and white. " We will now examine it in all its parts, and ' see what the scheme will now effect, and what it may be expected to accomplish in the future. Part 1st gives all the vast territory obtained from Mexico by conquest, treaty, and purchase, up to abolition. Part 2d gives up, also, a large portion of Texas, i.. ... t. ft. ... m;u..u.;?ni ti, abolition. Did my constituents?any of them?when they voted for me, expect me to give votes for either of these parts of the scheme? Part 3d, in order to reconcile Texas for making two abolition States out of her territory, pays or assumes to pay Texas bonds to the amount of (en or fifteen millions of dollars. This makes her bonds, formerly worth ten cents in the dollar, worth ?1 10 upon the passage of the act. Did anybody vote for me, expecting me to agree to this? Would I have been elected if 1 had agreed to do so? Part 4th proposes to abolish the slave trade in the District of Columbia, and frees the negroes sold in violation of the law?thus giving Congress jurisdiction, and passing an act of positive abolition of slavery under particular contingencies. In other words, what a citizen of any slaveliolding State may novo lawfully do is prohibited in the ftilure, under the penalty of losing his property, by a law passed to please abolitionists. Did any man vote for me, expecting that 1 would brgin abolition in this or any other manner? 1 Him ia liic extent 10 wnicn ?pouucm iiooiiuuii will go; for it cannot digest more at any one session of Congress.. Fanatical abolition would vote to break up slavery to-morrow, and put black and white upon equality at once. Political abolition, however, knows that it will require another presidential election to prepare the minds of the Southern people to bear more; but give political abolition three years, with a powerfbl party press upon each side, combined with strong industrial interests, upon the hopes of affiee among all parties; connect therewith the influences of frauds and deceptions practised in elections, the fears bf the timid, and the love of union with }>atriotic men of till parties, and at the end of three years the South will be ready to bear the 'utal abolition of slavery in the District of Colombia, in the forts, arsenals, dock-yards, und naval stations, the slave trade between the Stales, a prohibition against separating families, with penalties of emancipation for all violations of its provisions. Such a progressive step toward abolition in this age of progression will not be greater, if indeed it equals what is now proposed, and is called compromise und concession. By the second presidential election, you will find another net of compromisers, who, to save the Union, will be willing to enact the "English common law" for the United States, which provides that if a slave but touches " free soil " his chains fall off, and he becomes a "free man." This will hardly be considered a " new doctrine " seven years hence. The commandants of forces in (lie District, the forts, naval stations, &c., &<*., will by the act be required to register the names of nil slaves who can touch or set foot upon these spots "consecrated to freedom "?nnd all who do touch, will, by the United Stutes district courts, be declared entitled to this English liberty, and the Supreme Court will never set aside one of their decisions. Nothing is easier, plainer, or more direct than such a result,after you set out upon the road; the I road to mill or market will not be plainer. In h [ very short time every man who wants a public | office, or any part of the forty millions yearly expended by this Government, will know how to find it, because he can obtain his desires by travelling no other path but that which leads to abolition. This is all I have to say now. Respectfully, yours, DAVID HUBBARD. M. C. Gallawat. Letter of the late John C. Calhoun. We regret the necessity of again alluding to this letter ; but the bvVwing duplicate oi a letter to the " Sou/Arori," from Hon. D. Wallace of South Carolina, renders it necessary. The Submissionists have never been sincere in their labored attempts to connect Mr. Calhoun's name with the October Convention. No member of that convention has done, or ever will do it. The charge is false, and malicious as it is false. But we will here stale, that the name oI .he illustrious Carolinian would not have dimmed the lustre of the history of the October Convention, nor would it have cooled the ardor or abated the enthusiasm of oui {ons in its support. Well might it have been his act, for it would have hereafter shone out the brighest star in a deathless fame. We take pleasure in saying that our acquaintance with Mr. Wallace, while sojourning here, justifies the belief that he is a high toned and worthy gentleman, and we shall always be pleased to show him the hospitalities of our state.?Jackson AUssissippian. Washington, D. C., June 4, J850. To the Editor of the "Southron," Jackson, Mississippi. Sir?In your paper of the 24th ultimo, you have given to the public an article under the caption " Letter of Hon. John C. Calhoun," in which you have introduced my name to your readers, in terms not very remarkable for decorum. 1 learn from the number of your paper referred to, that you charge interference on the part of Mr. Culhouri, to influence the deliberations of the convention of the people of Mississippi, which assembled at Jackson in October last; and that I attended that convention as the agent of South Carolina, or of Mr. Calhoun, to influence its deliberations in person, with a view to procure such action as might result in a general convention of the Southern States. You were pleased in the the same connection, to allude to a speech which 1 lately made in Congress, as being ultra, etc. Now, upon all these subjects you are certainly at liberty to entertain your own opinions. You may fbrin what opinions you think proper, in regard to myself?my speeches in or out of Congress?and be they favorable or unfavorable, 1 shall not sleep the lees sound on that account. , You may prnmulge federal doctrines as much as you please, and cringe under the crack of the Northern whip as long ns you please. All this is no business of mine. But when you charge that my visit to Jackson, Mississippi, in October last, was coupled with an intention or desire to influence the deliberations of the convention, then and there met, respect for the people of Mississippi, ns well as myself, rcriuires that I should milke a proper response lo the gratuitous and unfounded charges. I now state, without rpialification, that I never did, at any time in my life, hold any conversation with Mr. Calhoun, on the subject of the Jackson Convention, or the Nashville Convention, until after the meeting of the present Congress in De- J cember last, and then the first had met and ud- journed, and the last was already called. And I state, further, that 110 message, either verbal or in writing, ever passed between Mr. Calhoun and 1: myself upon the subject of either of the said con- j ventiona, and that every charge, allegation, and inuendo, which have been Ailminated by llie par- 1 ty presses in reference to my connection with the t Mississippi and Nashville conventions, art utterly 1 fdtt and unfounded. i Will you, sir, as an act of justice, publiah this reply to your charge against me? I 1 am, sir, with due respest, Your most obedient servant, % D. WALLACE. j It is not generally known that there is a large ' Alum mine in Coosa county. It is situated in tne j vicinity of the mouth of Hachet creek, and by a ' little exertion and industry, and a small outlay of *apital, Alum enough could be got to supply the J ivants of the world. It is only one link in the ' 'real chain of mineral resources of Alabama. We have almost everything in the way of minfrals known to man in Alabama, and could we < once secure a fair development of the resources I of this State, would astonish the world.?8$*t$ * Guard. I Extract* from California Paper*. The San Franciacp Journal </ Commerce of ths [5th ult. says:?Yesterday, at yie Byron House, corner of Jackson and Kearney streets, Philip 3mith, of Pennsylvania, Dennis Skelton, of Louitiaaa, grappled each other, and commenced wresting ill gooa humor, but the latter becoming angry, itruck Smith with his fist, and he returned it with ktal effect. killing Skelton dead upon the spot. A tearing of the case was had before a jury, and ifier an investigation Smith was discharged from ustody. Joseph Brokie, a native of Edinburg, Scotland, formerly in the volunteer army ui Mexico, was drowned in attempting to swim the river at McLean, Jtlfrey, A Co'e Ferry, at Stockton.? The unfortunate deceased, previous to the attempt, deposited twenty-nine ounces of gold dust in the bunds of Capt. Geo. Bowles. Police report ok San Francisco.?In the May number of the Watchman, we find a summary of poli^ cases from September 4, 1849, to March lit), 1850, which we transfer to our columns:? Cases of murder - - . .4 Attempt to kill - - - 10 Larceny ----- 170 Drunkeness and disorderly conduct - 391 Delirium and attempts at suicide - 18 Perjury * - - - -2 Highway robbery - - - 3 Assault and buttery - - - 70 Mutiny - - - - - 4 Conspiracy - - - -2 Swindling - - - - 5 Burglary - - - - 1 Desertion - - - - - 40 Discharging fire-arms - - - 21 741 marriages and deaths in california. Married.?In San Francisco, op the 7th of May, at the manse of the First Presbyterian church, by the Rev. A. Williams, Joseph Stedman to Eliza Kcnnon. On the 1st inst., at Big Bar, Yuba countv, by J. Dick, es<j. Capt. Hiram Fogg, of Boston, Mass., to Miss Eliza A. Cameron, of Oskaloosa, Muhar<-o., Iowa. ^ \Jj Ditd.?At the Folsom Diggings, on the 18th of April, John A. Wolfe, formerly of Cincinnati, Onio. In San Francisco, on the 6th ult., of dinrrhm ind dysentery, ElishuL. Sillinmn, of New Haven, Conn., uged 57 years. Mr. Silliman was long known in his native city as a prominent and valuible citizens. At Coloma, California, on the 8th April, 1850, .Mrs. Rebecca E. Hurd, wife of A. B. Hurd, ind daughter of F. S. and Mary A. Crnns. They left their home at Foil du Lac, Wisconsin, Feb. 29, 1849. On board brig Fawn, near Benicia, Mr. Joshua Bulchelder, of Salem, Mass., uged 26 years. On board harque J. W. Coffin, April 16th, Timothy Collins, of Penobscot, Me., aged, 38 years. On same vessel, April 26th, Gabriel Romaze, iged 1 year and 3 months. In Sacramento city, on board the barque San Francisco, April 29th, Mr. Isaac Wallace, in the 25th year oi his age. He wus from Beverly, Vfnss., where he leaves a wife and two children. At Forksville, on Monday, April 22d, Raymond Farmer, of South Boston, Miss., aged 40 years. In San Francisco, on the morning of the 26th jf April, Capt. Henry H. Willis, of Baltimore, jn the 42d year of his age, leaving an affectionate .vife mid two children to mourn his loss. . In San Francisco, on the morning of the 9th ult., Tohu Henry Beach, Esq., of Saratoga Springs, New York. On brig Kate Heath, Feb, 24th, accidentally, Mr. Jeremiuh Martin, of Portland, Me. At Acapulco, on the Pacific Ocean, on the 27th if March, 1850, Capt. Albert Cauling, late of N. Jrleans, and formerly captain of the tow boats in the Mississippi river. His papers and effects ire in the hands of United States Consul, at Acapulco. On board brig Quaddy Bell, April 16th, lat. 6 15 P., Ion. 119 50, W., Thomas S. Burnhum, of La bee, Me., aged 46 years. The Asiatic Trade. Already do we bear of enterprising shippers intending the establishment of Rteamers between diis port and Canton, via. Honolulu ; and notless than six large vessels are expected daily in our liarbor, freighted with the rich manufactures of the Celestial world. The rapid sales and high prices wiucn consignees nicci wun on me pari 01 urcliasers for these rich fabrics, will undoubtedly induce other capitalists to enter largely into the trade, and, no far as we can see, with but little risk. The arrival of two or three vessels from Canton in the port of New York, laden as were the vessels which have arrived here within the past two weeks, would have produced a plethora in '.lie market which would have lasted l'or several nonths ; here it has had n contrary effect, and inn but served to create purchasers and stimulate prices, in New York and other Atlantic cities, there are but few of the entire population who -an possibly afford to purchase; whereas on the Pacific coast, nine out of every ten are not only able but exceedingly anxious to procure the luxurious and costly articles imported. Noi less than one hundred thousand dollars have been expended by persons in this city, within the last two or three weeks, for presents to friends on the Atlantic borders, who, before their arrival here; would never have dreamt of buying such costly articles of fUrnilure or apparel. As our population increases andt he resources of the country are developed?as our people shall cease to be home-made in their habits, the wealth concentrating here will be sufficient to carry on profitably and successfully a trade with Canton and other Asiatic ports, that shall nut to blush the operations heretofore carried on by the East India Company. This trade musi concentrate here, to lie radiated hence through the channels of trade to the great marts of the Eastern world. To secure this trade the more effectually, and to find a permanent outlet for it through our own domains; our merchants and capitalists should at once co-operate with those gentlemen, who, in the Western and Eastern States, are advocating so wurnily and patriotically the practicability and necessity of a great chain of a road over which this trade may flow, supplying not only our own cities and towns, but the depots of the European continent. A public expression in this quarter from our mercantile class would have a desirable effect and influence on those who now doubt the practicability, although admitting the necessity, of building u railroad, such as is contemplated by our brethren on the Atlantic side.?Pacific News, May 4. Churches in California. In the autumn of 1848, the Rev. T. D. Hunt, late of the Sandwich Islands Mission arrived at this place, and commenced the first stated services, according to protestant forms of worship, under an engagement for the term of one year, as chaplain of the town of San Francisco. No church organizations, however, were effected until the spring of 1849. Then, with the thronging emigration and an increase of ministers of the gospel, churches began to be formed in this and other communities. The following summary, it is believed, presents a complete view of the various relitrinuM societies existing at the present date1^ and * the order of their formation. First Presbyterian Church in Benicia, Rev. S. Woodbridge, Jr. Next in the order of time occur the churches of thin city. First Presbyterian Church, Rev. A. William's? First Baptist Church, Rev. O. C. Wheeler's? Church of the Holy Trinity, Rev. S. E. Mines' Methodist Episcopal Church, Rev. W. Taylor's? -First Congregational Church, Rev. T. D. Hunt's -Grace Church, Rev. P. L. Vermehr's. * At Monterey is the Rev. S. H. Willey, Prestytcrian, who officiates as chnplain to the military ost. No church organized. At San Jose, are the Rev. J. W. Doug/ass, Presbyterian, and the Rev. J. D. Briarly, Bapish?and religious services are maintained by a Methodist society, as yet without a stated minstry. At Sacramento, a Methodist Episcopal Church las been formed, Rev. Mr. Owens, and the^Rev. T. A. Benton, Congregational, and Rev. J. Cook, Baptist also officiate, but have not as yet organized churches. At Stockton, Rev. James Woods, Presbyterian, has organized a Presbyterian church, the third in :onnection with the Preibytery of California. A Methodist society also maintain worship. The Rev. W. 'G. Canders, Presbyterian, offi:iates as a missionary in Nappe. Valley, and at Sonoma. Smart olp Ladt.?I. B. Philbrook kept three :ows on his farm at Hardwich, Vt., last year, Vom which his mother, a lady of 90 years of age, vith his assistance, made in qin? months, nine mndred pound* of butter.