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Front the Richmoud Kuquirti A REPLY?Gouge Stkewu Mr Editor:?Your correspondent, 44 A True Demo cr*t," (whom I Uke to be Mr. Gouge himself.) ? right in supposing that I had not read hie pamphlet I only had the good fortune to read euch extracts from it, u have appeared in the newapepers. It eeema that Mr. Gouge'* design is. 44 not to expose all the evila of pa per money banking, but to endeavor U* show that, even if ,1 shall be deemed best or found necttary to continue the *ytiem, the fiscal concema of the U- 8. ought to be completely separated therefrom." It ia further etated, that 44 ft doea indeed appear from a previoua publica tion of Mr G.'a. .(the ahort History of Banking, to which you have often referred.) that he (Mr. Gouge) ia in favor of a course of ineaauica by which poper money ahall be gradually supplanted by metallic ; but not in favor of an eicluaively metallic currency, if the word 44 currency" be uaed in ao comprehensive a aenae aa to include all kinda of commercial medium He draws a marked line of diatinction between circulating medium, and what he calls mtrt commercial medium : snd. while b? inaintaina that the atandard and measures of value in other worda, the money of a country should have intrinsic value, he would leave traders to devise such other auxiliary mediums, aa their business may require, in the same way aa la done in Holland and oilier solid money countriea. , 0 From theae extracts it cannot be doubted, that I waa right in supposing that Mr. Gouge's scheme of bub treasuries, waa intended to reduce the currency to gold and silver, cxcept what he calle commercial medium, which I take to be billa of exchange. Hia own explana tion of the acheine makes it precisely what I supposed it waa intended to be The 44 hscsl concerns ol the United Ststes ought (he says) to be completely separat ed" from the preaent Banking Syatem ; and " be would leave traders to devise such other auxiliary mediums ss their business msv require." . t If we contemplate the recklessness of this scheme, so besutifullv gilded with gold, we will have juat cause to wonder that it should have been the conception of 41A Hut Democrat " It has always seemed to me that party men in power ought to do exsctly whst, sa honest and wise men, they would have others to do, were tliey in power snd the former out But the proneness of men to think' themselves ssfe depositories of power, which they would not trust in the hands of others, is the very bsne of insny politicians, and must ever admonish the puople tiist liberty can only be preserved by the moat scrupulous watchfulness over their public servants, or that thev will become mattert under any name, omce^ the publication of my first article, 1 have hem informed that Mr. Gouge ia an officer in one of the Departments at Wa?hingtcti?, but whether hit opinion# are identical with those of the President. I have no mesns of knowing. I hope they sre not. I will appeal to Mr. Gouge, and to every democrat in Virginia, whether any one of tin in would, in case a Whig waa now Preaident of the L. JS , and the Whigs in full power of the Government, con sent that thev ahould upturn the foundations ol our financial, banking, and commercial ayatema, as Mr. Gouge propoaea by his scheme ' VV hatever be the ue fecin of our financial, banking, and commercial sysicma, (and inany, I believe, there are,) atill we have enjoyed a degree of proapenty under thcin, entirely unknown to any other age or country. We are a people of auch anergy and enterpriae. ay to require a lar more abundant circulating medium than can be procured alone Iroiu the preciou* inetala, while we maintain any thing lika a re ciprocity of freedom in trade with other nation* ; nor indeed can commerce or international law be so insti tuted, aa to anable a nation to extract from it* neigh bora undue projiortiona of Specie without being aubjcct to refluxes, pettiapa not much leas linachievoua than those which occasionally occur under the improper i management of banka. But it i* not my intention to diacuss mere abairactiona. I have neither lime, incli nation, nor capacity for such discussion. My object is | merely to call the attention of the Democrats of Virgi- . nia to the consoqueuces, which must necessarily follow the adoption of Mr. Gouge's scheme. And while I do not doubt the purity of Mr. G.'s motives, nor his sound ness as a democrat, I cannot believe that the tree ho haa planted will produce democratic fruit. The inatitution and establishment of sub-treasuries at all the neceasary and commercial points in the I ruled States would cost the Government several millions ot dollars. Strong houses with vaults, chests, bars, bolts, and locks would be necessary, with a regular corps of watchmen and an additional aet ol officer*. I o blind the public, the acheine might be commenced with very few new officers, but they would soon be increased to any number actually necessary. For example, in a large town or city, I suppose one sub-treasury would be sul ficient to hold the funds of collectors, postmasters, &c , and that all payments to officers and contractors with the Government in that vicinity, would be made at it : And hence a sub-treasurer with proper clerks, would be requisite to keep the custody of the money, and pay it out accoidmg to the orders of the Treasury Department at Waahington. All payments to the Government, I take it for granted, must be specie ; and sll transfers Irom one sub-treasury to another to meet payments at the latter, must, in like manner, be made in specie, or in some paper devvc or auxiliary. The expense, risk and labor ot transporting specie from places of collection, where excesses would be received, to places of payment, where deficiencies would exist, could not fail to lead to a pajicr device, which, for convenience to myaelf, as the thing would bo to the Treasury Depsrtineut, I will call a 'Ireasury medium. This Treasury Medium would at once be come receivable at the sub-treasuries in place of specie, and then we should have nothing receivable inpayments to the Government but specie and Treasury medium Mr Gouge "affirms that there is an everlasting dis tinction between the promise to pay gold or silver, and actual payment of gold or silver ; so we should then find an everlasting distinction between an order to pay gold or silver, and an actual payment of gold or silver. But the "case being altered, would alter the case." The Banks thus being under the ban of the nation, (bccause they are Bank*,) and their notes only receivable by the common people and the poor mecha nics and merchants, because they are common people and poor mechanic* and merchants, and the " commercial medium" being in nowise suited to the payment of pub lic dues, the 'Treasury medium would instantly become an article of commerce, and be sold in the market lor a premium above the price ol gold and silver, I Ima by discrediting the currency ol the States, and creating a Treasury medium lor the officers and creditors ol the United States, a distinction more odious, aristocratic and Federal, than ever entered into the head of A'ex ander Hamilton, when contriving his financial schemes to accumulate Federal power, and overthrow the inde pendency of the States by money, would be fastened, jterha'ps irrevocably, upon the people ol this country. But pause ! Has it come to this, th?t the officers and creditors of the United States cannot use the. money used by tho people ! Cannot' they subsist upon the same kind of ineat, bread, and drink ? Arc they not content with the same delicacies, luxuries, or even ex travagancies ! Or, are they of an entirely supenor "order, mtitled to more excellent moneys, meats, breads, drinks, delicacies, luxuries snd extravagances ! How ia it! Can the Democracy ol Virginia stand this! Or is this a phiutom of the imagination ! No ! 1 he notes of our State Banks will bjiv at this lime more of the necessities, comforts and luxuries ol lile; more lands, slaves, horses or cattle than before the suspension of specie payments, yet we find officers and creditors ol the Ufiited Slates taking advantage of the distresses of the people and Specie Circular, and speculale upon the Treasury medium, recently devised by the Secretary of the Treasury, and making some live to ten per centum bv selling it, for such money ss the common people use ! ! I believe the State Banks ought to be fostered bv the General Government, and not injured. If I could have any doubt on that subject, the impotent reproachea of John Quincy Adams, upon the patriotic course ol the Legislatu es ol New York and Virginia, could not fail to confirm mo ; but, that is in character with Ins attempt to dig the grave of Mr. Van Uuren, by hi* bud advice. For, indeed, every thing calculsted to injure or impair the State lisnks, adds but to the strength of the Na tional Bank Party ; and that is the consummation most devoutly to be wished for by Mr Adatns. If that party of politicians shall, by any riiismovament on the part of the present Adinmistrstion, gain dominion over the Democracy of this nation, fifty years will not eradicate them ! In such event, if the" power of money, a per petual National Bank charter, foreign influence, do meauc treachery, corruption, and slander, ("the ugliest whelp of sin,") can bind the Statea and the people, and repress and reprove the spirit of Democracy " now abroad upon the earth," all will be done, and well done, to effect these objects Imagine a National Bank, with a pelrpetual charter, and a capital of fifty inilliona of dol itrs, with leave to increase it to one hundred millions, end the power to establish branches in all the States, ?nd we have but a faint outline of what that party will do. ahould it be the will of Providence again to give them dominion over the Statea of this Union. 1 tiey will not half do their work the next time They have two leaaona indelibly written upon the pages of our his tory. which teach, that nothing short of a perpetual charter, with a capital aufficiently large to balance and control the currency, commerce. Government and Peo ple of each Stete, and of the United States, can give perpetuity to a National Bank They want a fly-wheel in these Governments, whose momm/wip shall be aupe rior to the balance of the machinery, crushing down all opposition to its mere motion, dragging every thing in jfc onward course, with a force unchecked and nneon trolled ev*u by lite potcer which put U iii operation And this will be the climacteric sequel of succeee ia National Banking, liut let uie nut forget Mr Gouge's scheme. For the benefit of Mr. Gouge's argument, we will suppose the State Dank* all put down?their charters repealed, and if you please, the Fanny Wright doctrine carried out as far as its advocates desire?sll grants to Isnds snnulled ; debt*, contracts, credits, and slavery abolished ; marriages, and our obligations to morality and religion abrogated ; and every thing we wsnt, to be purchased or sacrified by the actual payment of gold or ailver; and in what would we tie improved 1 But with out giving Mr. Gouge the whole benefit of the Fanny Wright doctrines?but only so much as to enable him to repeal the bank charters, Nicholss Biddies end aU the rest; and what might we then expect! Why, if the obligation of contracts, morality, and religion, which form the coherency of communities, should be strong enough to keep the parts together, we should be flooded with European and Jtwuh prieute bankert to devise a commercial medium, and carry on business for us. These men we know at present have the happy facility, upon a few thousand dollars, of creating a commercial medium to (he amount ?f many millions; and with how much more facility they might do so under Mr. G's system, Mr. G. himself could hardly tell. I may here reinsrk, that commcrcisl men have ever kept in advance of legislation, in devising schemes of credit to ensble them to csrry t|jeir business beyond the supply of specie, bank money, and the-capacity of tbe community to consume their commodities. This is one of the consequences resulting from a free Government; and in fact can only be reatraiued by a desuotiam, where the prince may assign employments to his sub;ects and fix the extent of their labors. I sin well satisfied, that all the Banks in the United States have been allowed to issue too much paper; but to charge upon the Banks criminality in sus pending specie payments, or of wholly producing the causes which led to it, is as unjust ss to charge it wholly u|>ou General Jackson or Nichohs Biddle. While many persons liave exhausted the phrases of invective upon Banks, (because they are Hank*,) they remember to forget, that private bankers, brokers, and commercial houses, doing business as bankers upon a " commercial mediumhave in the la?t seven months, within these 1. mted States, failtd for nullioiia of dollars more than has been lost by the failures of incor|>oratcd Bunks in England, Scotland, Ireland and the United States, (put them all together,) I believe, since the Revolution. ' hese are to he the bankers upon whom the merchants' and .mechanics are to rely, while the officers and credit ors of the United States will liave a sufficiently sound sud convenient currency of specie slid Treasury me dium, and the people, the real Democracy, the farmers, and country mercltanls and mechanics, will be compel led to do with whatever the course of a trammelled commerce will permit to circulate among tliein The wonted aid, which agriculture drives from the diffusion of commerce and banking, will lie denied. Every kind of internal improvement will be arrested. In Virginia, our fund for internal improvement, which owns 22,-171 shares of bank stock, or $1,247,100 will be rendered bankrupt by the loss of so much of its most profitable stock, and a direct increase of taxes to pay interest on the debts of the State will be necessary Our Literary Fund, now educating twenty thousand (20,000) poor children, the nursery of Democracy, which owns 3,778 shares of bank stock, or $377,800 of capital in the Banks, must be cut down one-hajf; and ten thousand (10,000) young Democrats be left a prey to ignorance, and made the creatures of the Aristocracy. The entiFe policy ol Virginia in regard to the sales of agricultuial productions, aud the purchase of goods, wares and .mer chandize will lie chanced The tobacco and grain merchants, not being able to procure bank accommoda tions, must purchase on credit, and pay after" making theii sales and collections. This being the case, the farmers will be coui|ielled to make their purchases of the country merchants on credit also, and to relieve them selves of the risk ol trusting their crops to the large city dealers, while they remain in debt to the merchant at home, they will sell directly to them, and thev to tho city merchants. By this operation, a merchant wiil be J introduced between the farmer and the large city mer | chant, to whom the farmer now sells his crops for cash. | 1 his intermediate merchant, being responsible to the | farmer for his crops, and also to the dry goods, hard | ware, or other city merchant for the goods sold to the j farmer, having purchased and sold both wavs upon credit, roust necessarily make large profits upon the goods, aud also large profits uj?n tho crops. 1 he run ning accounts between farmer and merchant, having a tendency to increase much beyond the expectation of the farmer, he never fails being in debt at the end of the year, when the account is settled by bond, bearing in terest. One or two bad crops will increase the debt so | much, as to require a deed of trust upon the farm, or a I sale of some ol the stock Aud the farmer never thinks | of stipulating for more cash than w ill be sufficient to pay I taxes Let a few Urge commercial houses fail, and the mischief is immediately visited upon the heads of the farmers. The intermediate merchants, always being largely indebted to the city, merchants, and holding largo balances against the farmers, a city or country failure is but the watch-word to let loose the lawyers, sheriff* clerks, and constables. This we know was the case before tho introduction of Banks, and would uc < essarily follow their abolition. W hat is the case now ! W hhiii the last seven months, failures have taken place among dealers in the United States, to an amount some where between FIFTY AND ONE HUNDRED MILLIONS OF DOLLARS, if wo may believe the reports of the officers themselves ; and the great body of the people of Virginia, at least, are as yet but little injured. I hey only feel, that the swelling tide of pros perity, which was overwhelming the land with all that the bounties of nature and the activity of art could bestow, has rolled back for a time ; and that, if it lie riot blighted by some unfortunate hand, and the fields but give their usual yield, it will again roll on, and fill the land with a thousand, thousand bi.essinus. Even Democracy herself has flourished under our present system, and waxed stiong in the land. May she not bo gouged lo death by new and untried schemes. But, Mr. Editor, we know the banks cannot be put down for some 30 years, without a civil revolution ; and it can baldly be expected that Mr. tiouge is the man for that. '] ake him,upon his own plan, aud we are to have a depreciated curruncy for'the people, or rather an appreciated currency fur the officers and creditors of the United States as long as the State Banks and Mr Gogue's scheme work together. The appreciated cur rency, or Treasury medium, would be raised in value by the trammels, thrown round the pavmentof public dues", without adding one cent to its intrinsic raluc. The ar bitrary will of government would alone create this addi tional mid fictitious value , sud in a tree government, it could not be considered as having any abiding sanction' farther than the interests of the few could be made tj predominate over those of the many., The price which the debtors of government would be compelled to pay for the Treasury medium, would be charged like the du ties or other debts, upon the People with whom tho debtors of government deal Thus the people of the United States, after being taxed several millions of dol lars to build, perhaps, at many sub-treasuries as wc trove forts and arsenals, and to officer and guard them per petually at great expense, would be taxed again in tho purchase of goods to enable the merchants to buy Treasu ry medium to pay duties, &c After arriving at this point, it w ould hardly require the sharpness of a Gouge, or tho ambition of a Bonaparte, placed in the presidential chair, to relieve the peo;>lo of some of their burdens, and grant them commercial facilities jiever before thought of By a simple oider from the Treasury department, directing the sub-treasuries to receive specie on deposite, ?nd i? sue Treasury medium, we should have the Treasury of the United States converted into a bank of circulation and whether it would require an act of Congress to ena ble the treasurer and sub-treasurers to loan uut tnonev, and do the banking business of each State, and of the U' States, would depend upon the fact, whether in t/m! day there would exist one spark of democracy, or whether the lea?t vestige of nate rights would have survived the devastating hand of Federal usurpation. Convert the poatmasters-mto bank messengers, and the business of the nation might be done like that of a single city ! ! I conjure the democracy of Virginia to"be more vi gilant than ever ; to watch over the rights of the states and the principles of our government with the most ani ious solicitude Let not the scheme of Mr. Gouge betray us into the hands of the national bank party, nor into the hands of a party, who may drag us into the vor ?et of a great government banking engine, ? Recollect Honaparte, after exhausting the bank of France of its s|>ecic to support the armies engaged m the war with Austria, and the hank being compiled to dimmish its business when bankruptcies, distress, arid alarm over shadowed the country, by an imperial decree took the management of the affairs of the bank out of the hands of the two hundred delegates chosen by the stockhold ers and the fifteen directors chosen by them, and com mitted the same to a governor and two deputy governors, chosen bv tbe eni|.eror himself; and increased the capi tal from forty.fiee to NfNETV MILLIONS of franca. W ill the democracy of these United States consent to let loose, like "dogs of war," all the tribes of Federal ofhi-eholders, contractors, dependents, with the army and Nary, to hunt down, degrade aid destroy tlh#1 m solution* of the states, and make way for some Bona parte to red ice the government of this country to a mere banking establishment, with the power of the sw ord ! But, Mr Editor, I have already aatd mote than comes to fhe sham of A PntX PtHrtClUT DAVENPORT, THE AMERICAN BLACK SMITH?THE ELECTRO-MAG. NETIC DISCOVERY. Thomas Davenport, a native of Vermont where he has resided aa a blacksmith at Brandon, Rutland county, until within a few months past, in July 1834, altera year's ex periments in electro-magnetism, procured lor the first time ever known a rotary motion, with that power, the machinery of which is now exhibiting in New York, and exciting the astonishment of every individuul who has seen its operation. Of the origin of this wonderful discovery, which threatens to make ?s entire a revolu tion in the mechanical world as that of Fulton in steam navigation, which it may ]>osbibly entirely supersede, the public are naturally curious to learn some particulars. We com municatn them in a more authentic and de tached shape than they have hitherto ap peared. In the first place it is necessary to pre mise, that neither the works of Furraday and Sturgeon of England, who have made much advance in electrical science, nor those of Orsted of Copenhagen, nor Molle of Sweden, nor of Hare and Henry of America, nor of Ampere of France, can convey any notion of the extraordinary development and application of electro-magnetic power discovered by our native American mechanic, Davenport. His name probably in a few years will stand out upon the annals of history n* much more prominent than Watt, Arkwright, or Fulton, as they do now above the nio&l ordinary in ventors Nor let lis add can even the interesting and well written descriptions in Silliman's Journal, and elsewhere in our newspapers possibly make intelligible the nature of Mr. Davenport's discovery. . In fact, the techni cal language of science requires an entire new glossary to furnish words to express the thoughts which have sprung up in this new worlil, whose door has been burst open by the genius of one of our citizens. ' I'p to the age of 30, Mr. 1). steadily follow ed his profession of blacksmith. In the sum mer of 1833, lie went us was his custom, from Brandon to a forge at Crown I'oint on Lake Champluin, where lie was in the habit of pur chasing his iron. He there saw a revolving cylinder with magnetised points, for the pur pose of separating the particles of iron from the pulverised ore. " How is this magnetis ed," said Mr. D.to the owner. "By Pro fessor Henry's horse shoe magnet, which you see there," was the reply. It was one of a very small description, weighing about three pounds, and hud been purchased of Professor Henry himself at Albany. Oil an exhibition 1 of its powers, in connection with the galvanic battery, fMare's] Mr. D. was so struck with | this, to him, entirely novel agent, that he im mediately demanded the price of the whole I apparatus and purchased the same, and went | home absorbed with the useful purposes to j which he immediately conjectured it might be ! applied, and loo much engrossed with lliis 1 dominant thought to remember the load of iron he had colne in pursuit of. It is proper to say, ! that previous to this Mr. D. had become ac | qtiainted with the nature of the permanent magnet in his excursion with that and the ' compass among the iron regions of his native j state. On his return, he explained to a friend his conviction that the magnet could be made | to procure a rotary motion. This- friend en j gaged with hiin in a series of experiments, which proved abortive, and Mr. D. was short ly after abandoned as a visionary. The same results precisely then soon followed, with two other persons. He was thus finally and/w - tunutely thrown upon his own resources, and himself was the sole discoverer of tljis great invention, and the architect of his own repu tation. While prosecuting his researches he read nothing but went onward boldly, under the strong impulses of his own native genius, till he struck out the light which, as we believe, will eternize his name and that of his coun try. In allusion to his wftnt of all preliminary education and hook knowledge, we are con vinced with him, that had his thoughts been entangled and cnlramtnclled with the ideas of other men, his niirtd never would have been emancipated into the regions of bound less discovery, where it has now reached." The discovery took place in July, 1834. He first went to Middlubury College, Ver mont, and exhibited his production, where it met general approbation.?Thence lie came ! to Troy and exhibited it to Professor Eaton, to Princeton jind showed it to Prof. Henry, who had himself, without Mr. Davenport's knowledge, procured a short time before a Vibratory motion up and down with his horse shoe magnet. Mr. Davenport now made some marked improvements in the construc tion of his machine?principally in changing the poles of the magnets. He then cainc to exhibit it at Saratoga during the summer of 183ti.?There he met with Mr. Hansom Cooke, a native of New Haven county, Con necticut, who taking a deep interest in the magnitude of the discovery, immediately be came associated with Mr. Davenport in ad vancing it to perfection and obtaining for it the approbation of the public. In concurrence unanimously we believe j with all who have witnessed'the operation of this extraordinary and simple apparatus, and listened to the lucid and eloquent explanation of Mr. Cooke, we confess our utter amaze ment at the prodigious change which it mani festly foretells in the application of an entire new and immeasurable agent of mechanical power; and at the same time, while we see and admire, acknowledge ourselves for want of language to sustain us, utterly incompetent to impart any correct conception of this mar vellous invention to our readers All we can say is, " yo and be convinced.'* Description?It we were to attempt to give our reader some faint notion of this machine, we would say that it consists of a wheel com posed of two iron semicircular arcs, cut across so as to interrupt their formation into a com plete circle. That within these are two iron bars or shafts, crossing at right angles, bear ing smaller segments of circles on their ex tremities, nearly touching, as they revolve, the above outer circle which is fixed. The j whole of these are horizontal and covcred 1 with silk, and then wound round closely and spirally with copper wire, the wire itself covered with cotton and varnished. On the upright shaft below are two small correspond ing semicircular arcs, cut as above. Now these are all connected by two flat copper wires, which lead to Hare's Galvanic Batte ry of concentric copper and zinc plates, in a solution of sulphate of copper. Those gener ate the electric stream, like fuel to a lire en gine, and it is by the two upright wires that touch the circle below, as their ends alter nately rub in th* rotary motion against the inside ttl tiic iwo aeuucircuiar aria uito which that fixed circle in divided, that the extremi ties of the semicircular piece* above are al ternatively made to change their positive and negative poles by the ascending current of gshanism?and thus the principle of- repul sion and attraction made to act in concert on the lour segments of the shaft* above de scribed?keeping up by (he inauetization pro duced a swift rotary motion, which in this machinc raises 200lbs. one foot in a minute. So rapid is the change of poles and the elec tric velocity of the stream of galvanism, that it mskt-s 32,000 revolutions urouud the wires in a minute. It is a sublime but not wild idea of Mr. Cooke, that a ship's bottom coher ed with suitable plates .and the ocean lor its bath, may drive herself along with iucredible velocity?at the same tnne generating abund ance of hydrogen to light her onward ou the deep. From the New York Time* Wliit ought lo he the course ' Tint inquiry in Ilia mora reasonable now (hat there ? re no many hands endeavoring to aeixa the rem* Anion# other ii?w and strange thing*. "The Wash ington Gloha ban resinned its virulent denunciation of the hanker* and business classe- of the city of New York."?Ononduf/u StanJaid '1 lie Globe haa long lieeit aaid to Le the fcxecntive or gan at Wellington Whether th>? waa true or other wise in tiuir past, we shall not here make any inquiry, neither is it in any degree material We oi.lv mean lo say that we do not believe the Globe in this matter ex presses the views of Mr. Van liurcn We shall l>e slow, very alow, to believe that President Van Buren has in anv way countenanced ihe Globe in making the denunciations alludt d to, or that lie has.lent Ins naiue or inlluence to the doctrines which they inculcate. It must not he overlooked, that when the banka in the city of New Yoik atiM|>etided specie payment* on the tenth of May last, the legislature of this Stale waa in ?< skioii at Albany. Thst tise necessity arid propriety j of the measures were so inanifeat to the Governor and | legislature, ss well as to the jieoplc at large, and *o en tirely were they convinced of its expediency, that, in the abort period ol five day*, they passed the law sus pcnding the jienally which would have otherwise work ed the forfeiture of the charter* of nearly all the bank* iniUe State, This they did, notwithstanding the radi cal effort* tliat were made to frustrate this conservative measure; and by doing it, they saved not the banks only, but the country also, from the most desolating ruin. That these proceedings of Governor Marcv and the State Legislature were every where approved by the people, is manifest from the tranquil joy with which the tiding* of them were received ill all ourcitie*. Counties, village* and towns ; and we are happy in having the op portunity of saying, that the conduct of Governor Marvy on that occasion, reflects the highest honor and credit upon bis nsnie'and station. His name stands enrolled at tho bead of the patriots who on that solemn and i.ever lo he forgotten crisis, cstne forward to arrest the deluge of ruin which tadicalicm was pouring over the laud. He came to save his falling country. It is plain, therefore, that in the judgment of the Exe cutive ami legislative Departments of the State Go vernment, the bankers of the State of New York statu! justitied before the tribunal of the people, so fur ss is re quisite to secure the continuance of their charters and business operations, which place them on the same ground on which other persons stand, and is fully ade quate for all the purposes of thia res|>oucfl. The necessity of the proceeding proves its rectitude ; and the cheerful acquiescence of all the orderly and ra tional part of the people of this great city and state, proves that they regard it in the same light as the Go vernor and Legislature did, when they so proinpilv and discreetly passed the suspending act, under the authori ty of which the batik* now continue their operations. And it is not a little remarkable, that to universal was the opinion that the susjiension act wax unavoidable, that gentlemen of all parties in the legislature united in voting tor the law. Ought not the Globe to understand | that the State, m taking this step, had set down her giant I fool upon the neck of radicalism, and taken her stand in favor of the " well regulated credit system." To this it insv be added, that the immediate relief which the country received from the suspension, which at once staid the destructive failures which were then desolating the laud, and the calm tranquility which di rectly succeeded it in every department of business, af ford a full demonstration that the measure was us neces sary for the count iv as for the batiks themselves. It is no matter what theoretical results, rare and visionary ? theniists may draw froin these chimerical calculations, so long as the contrary practical business result, by its physical demonstration, puts all such calculations to shame, and leaves the world where it ought to be, rest ing upon realities. The denunciation of the bankers and business classes of the city of New York is, therefore a sweeping de nunciation of the whole State, its government and |>eo plc. And it is, especially, a denunciation of the Re publican Party, because thev arc the majority, and were foremost in the adoption of the legislative measures to sustain the bankers and the business classes, and through them the whole community also, for they were all in volved in the common danger?The less we hear of that kind of radical denunciation therefore, the better, and we repeat again, that we do not believe President Van Uureu his, in any way* countenanced the at-tili ments so put forth in the Giobe. HANCOCK, Front the I'ticu (A'. Y ) Observer. Mr. Thomas Allen has issued a prospectus of a new daily, weekly, and semi-weekly paper, to be published in the cily of Washington, and to be culled " The Mndiso ninn." " The enterprise," it is staled " has not l/ten un | derlnken, without the approbation, advisement, and j pledged sup|K>rt of many of (he leading and soundest miiuls ' in I lie ranks oil he Democratic Republican party, in the i extreme north and in the extreme south, in the east j and in the west. As its naine indicates, Tlie Marlisoniuti will be devoted to the supjiort of the principles and doc { trines of the Democratic party as delienated by Mr. Madi j son." The prospectus truly states, &c. A Democratic paper j conducted on these principles, with talent, and with ndeli ' ty to the people and the great interests of the country, | cannot fail of being well sustained, and commanding the | public confidence, NILKS'S REGISTER. THK Subscribe rs to the " Hkuistkk'" are respectfully informed, that after the tint ilay vf September nnt it Will be published IN THK CITY OF WASHINGTON. In transferring this work to the seat of Ihe National Go vernment, we lire not only complying wilh the wishes of a lar^e number ef distinguished men of U>lh parties, but cairying into efli ct a dcstiMi lonjj entertained l>y its found er, and obeying our own convictions of the advantages which must r< suit tj its numerous and intelligent patrons. For we will there have additional facilities for procuring Ihose fuels and documents which il is one of the objecls of the' " Register" to present to its readers, and which have heretofore been obtained at the sacrifice of much tune and bilior. In addition to them facilities, the " Register" bus become so identified with our history.that it seems due to its character thut it should avail itself of < v< ry advantage that w ill add (o its national reputation and usefulness, and V\ axhington City is necessarily the point at which the most valuable and authentic intelligence of general in terest is concentrated, thence to be circulated among the People. The change of local ion will not, however, produce anv change in Ihe original character or plan of the *.?ork, which will fie faithfully adhered to under all circumstances, and especially arc we determined that il shall not partake of a sectional or |>ertisan character, but present a fair and honest record, to which ail parties in sit quarters of the country, desiiousof ascertaining the truth, miiy refer with confidence. In making this avowal we arc not ignorant how dilFiHili it is lo remove prejudices from our own mind, and to satisfy that intolerance which only sees the truth in j its own decisions; but so far as the fallibility of human judgment will enable ns to do justice, :t shall l?! done ; for welinvc hud that kind of experience in editorial duties which has thoroughly disgusted us.^wi^li the miserable shifts to which partisans resort, even if1 our convictions of dotv would permit a departure from strict neutrality. Yet wr do not intend to surrender ihe rulit to sp?wk of principles with our usual freedom, or to defend wlu?t we deem to Iw the true |io!icy of the country ; but in so doing, we will not be influenced by special interests or geogra phical lines, ?!id properly respect ihe opinions of others ; for we. too, lelieve that "truth is a victor without vio lence," and that the freedom of discussion ami the right of decision are among the most estimable privileges of an intelligent People. The period lor the contemplated removal is also pecu liarly auspicious, for w M the enmmennment nf the extra .?f??iurt 'J Con^ree* we uilt eominrnee the publication >?/ a new cjlumt: sud we have already made arrangements to lay lie fore our reader*, in sufficient detail, evcrv event winch may transpire in that body, and to insert all docu ments, speeches, \r, of interest. It is also our intention lo furnish tn our subscribers, cratuthtueli/, at ihe termina I ion of each session, a supplement containing nil Ihe hurt ffuu/il thereat, oj general inttrmt, w ilia an analytical index. Wc will thus render the " Register" still more valuable as a Congressional record for popular reference: for the reader will then not only be enabled to trace the progress of the laws, hut will Ikj furnished with them us enacted. Heretofore their circulation has been confined to one or two newsjiaper* in aach State, or limit* d to copies pub lished by 'he ord*>r of (be gvrtntnen: for the use of it* of ficera, tuul ?ia cost, per volume, |W aqu*ls, U it due* not exceed, the juice of our annual subscription. Th> m Mftpiovtwenta ia our plan will involve ? lint expenditure of moi*ev, snd trt tumlly warranted by the general digression which prevails in every branch of pro ductive industry, but we we induced to bcheve, from Um steady support the " Register" baa received during the pact most emt urrsssing year. that lliere ia an increasing desire ainung 'he people for informalion,and that Uwv are rttolrtd to underlined the actual cundttion of fmUic affairs. With suck ? disposition on ibe pari of the Public, ??cu uol doubt but that our enterprise will be duly rewarded , and we earnestly solicit the co-operation of our friends in aid of our efTorU to extend our subscription list. We are deeply scnatl le of the obligation* we owe ihtni for oust favor*, and areee|>erially grateful (or the indulgence which has been ex tended lo us in the diarharge of our arduous duties, which have been prosecuted undc many disad vantages. Their emouragrmeat baa excited us la perse verr, and to cherish the hop* that " Miles' Register luay still mainfaiu the hirh reputation it lias acquired in si) quarters of the United States and in Europe. It ia now admitted to tie (lie most valuable depository of farts and evunts extant, and is daily quoted by ail parlies as aa au thority that will not be disputed. 'I Ins is, indeed, an en viable reputation, and we are determined it ahull not be lost. / The terins of the " Register" are fivt dollars per annum, pay able ia advance. All letters must be post- paid, but r? iiiittuuces tnny be amde at our risk, addressed, untd ihe Urst of Nrjiinnbtr, to us at Baltimore, and aftrr that peri od to VVsslbinf tun City. If we uiay be permitted lo give advice in the matter, we would recommend new subscri bers lo begin with the series which commenced in Septem tier, 1830, the first volume ot which terminated m Maich last. It contains the proceedings of the last session of cougreas, messages, reports, Ac. the volea jtiven at the Presidential election, all the proceedings of the reform movement in Maryland, the letters of Mr. Van Buren, General Harrison, and Judge White, to Sberrud Williauia, the letters of -Messrs. Ingcrsoll and Dallas, with a mass of oilier valuable papers of the higliest interest, 'l'he num bers cau be forwarded by mail at the usual rates of new a patter postage. Many of our subscriber* have been accustomed to re mit their subscript ions through the members of Congress from Itieir respective districts on their aiinual visits to Washington. As we will be permanently located in that city at the commencement of the extra cession, this mode of payment will be more convemtut for sll parties, and we hoj c our friends wiil continue to avail themselves of it. Respectfully, , WM OGDEN MILES. Aug. 'J? 3t. ' Baltimore. PROSPECTUS OF THE UNITED STATES MAGAZINE AND DEMOCRATIC REVIEW'. ON the 1st of October, 1P37, will lie published at Washington, District of Columbia, and delivered Simultaneously in the principal cities of the United States, a new Monthly Magazine, tinder the above title, devoted lo the principles of I lie Democratic party. It has lorn; I>een apparent to many of the reflecting mem bers of the Democratic party of the United .States, that a periodical for the advocacy and diffusion of their political principles, similar to those in such active and influential operation in Km land, is a desideratum of the highest im poitauce to supply?a periodical which should unite with the attractions ot a sound and vigorous literature, a poli 1 tical character capable of giving efficient support to the I doctrine* and measures of that partv, now maintained by j a large majority of the People. Discussing the great ; questions ot polity before the country, expounding and advocating the Democratic doctrine through the moat able j pens that that party can furnish, in articles of greater j length, more condensed force", more elalorate research, I anif more elevated tone than is possible for the newspaper i press, a Magazine of this character heroines an inaiiu " merit of inappreciable value for the enlightenment and formation ol public opinion, arid lor the support of the principles which it advocates, by these means, by thus explaining and defending the measures of the Democratic parly, anil by always furnishing to the public a clear and powerful comment-.-rv upon those complex questions of policy which so frequently distract the country , and upon which, imperfectly understood as they often are by friends, and misrepresented and distorted aa they never fail to be by political opponents, it is of the utmost impor tance that the public should Ik- fully and rightly informed, it is ho|ied that the periodical in question may be made to exert a beneficial, rational, and lasting influence on the public mind. Other considerations, which cannot be two ..pre dated, will render the establishment success ol the proposed Magazine of very great importance In the mighty struggle ol antagonist principles which is now going on in society, the Democratic party of the Uni ted States stands committed to the woild as the deposito ry and exemplar of those cardinal doctrines of political lailh with which the cause of the l'eople* in every age and country is identified. Chiefly from the want of a con . venient means of concentrating the intellectual energies ot its disciples,, this party has hitherto been almost wholly unrepresented in the republic of letters, while the.views and policy of its opposing creeds are daily advocated by the ablest and most commanding efforts of genius and learning. ? In the United Stitk.s Mauazine the attempt will be made to remove this reproach. The present is the. tune peculiarly appropriate for the commencement of such an undertaking. The Democratic ls>dy of the Union, after a conflict which Jested to the ut termost its stability and its principles, have succeeded ill retaining possession of the executive administration of the country, in the consequent comparative repose from political strife, the period is auspicious for organizing and calling to its aid anew and powerful ally of this charac ter, interfering with none and co-operatuig with nil. Co-ordinate w ith this main design of The United States Maimzine, no care nor cost will lie spared to render it, 111 a literary (sunt ol view, honorable to the country, and fit Io cope in vigor of rivalry with its European competitors. Viewing the English language as the noble heritage and common birthright of all who speak the tongue of Milton and Shakspearc, it will be the uniform object of its con ductors to present only the finest productions in the vari ous branches of literature that can be procured, and to diffuse tho benefit of correct models of taste and worthy execution. In this department the exclusivenesa of party, which is Utaepa rallies! rom the political department of such a work, will have no place. Here we all stand on a neutral ground of equality and reciprocity, where those universal principles ol taste to which we are all alike subject, will alone be recognized as the common law. Our political principles cannot be compromised, but our common litera ture it will be our common pride to cherish and extend, with a liberality of feeling unbiussed by partial or minor views. As the United States Magazine is founded on the broadest basis which the means and influence of the De mocratic party in the United States can present, it is in tended to render it in every respect a thoroughly Nation al \\ ork, not merely designed lor ephemeral interest and attraction, hut to continue of permanent historical value. W itli this view a considerable portion of euch number w ill be appropriated to the following subjects, in addition to the general features referred to atsive : A general summary of Political and of Domestic Intel ligence, digested 111 the order of the States, comprising all the authentic impoitant facts of the preceding month. General Literary Intelligence, Domestic and Foreign. General Scientific Intelligence, including Agricultural Improvements, a notice of all new Patents, <Scc. A condensed account of new works of Internal Im provement throughout the Union, preceded by a general view of all now in operation or in progress. Military and Naval News, Promotions, Changes, Move rnt tils, &e. Foreign Intelligence. j Biographical obituary notices of distinguished persons. Alter the close ol each session of Congress, an extra or an enlarged number will be published, containing a ge neral review and history ol its proceedings, a condensed alistract of important official documents, and the acts of the session. Advantage will also be taken of the means concentrated in ibis establishment from all quarters of the Union, to collect and digi -t such extensive statistical observations on all the most important interests of the country as can not fail to prove of very great value. This portion of I lie work will Le separately paged, so as to admit of binding by itself, and will be furnished with a copious index, so that the trilled Stales Muyaziue will also constitute a Complktk Anmai. Register, 011 a scale unalleii'pted before, anil ol very ^rcal importance to all i his si a. not -only na affording a rum lit and combined view, lrom month to month, of the subjects which it will comprise, but also !..r tecord and reference through liituie years; the value ol which will increase with the duration of the work. Although in its political character the United State* Magazine addresses us claims to the support of the De mocratic parly, it is hoped lln.t its other features referred to abovt?independently of !ne desi table object of becom ing acquainted with the doctrines of an opponent thus advocated-?will recommend it to a liberal and candid support lrom all parties and from the large class of no party. 1 o promote the popular objects in view, and relying up on the unHed support of the Democratic party, as well as from others, the price of subscription is fixed at the low rate of f, re dullart per annum; while in mechanical ar rangement, nnd in size, ouantily of matter, Ac., the Uni ted States Magazine w ill be placed on a par at least with the le ad i ni! monthlies of England. The whole will foim three large octavo volumes each year.' ID* Tutus : *3 in advance, or f tion the delivery of the third number. In return for a remittance of ?2t), five co pies will lie sent; ot S?50, thirteen copies will be tent; and of 81(H), twenty-nine copies. I! ' All communications lo be addressed (pott paid) to the publishers. * TAMMANY HALL. At a remittor meeting of the Democratic Republican Gen eral Committee, of the city and county of New-York, held at Tammany Hall, on Thursday evening, April 6, 1W7, The prospectus issued by Messrs Langtree 6c. O'Sulh van, for the publication, at the city of Washington, of a monthly magazine, to I* entitled the United Statea Maga zine and Democratic Review, having been presented and read, it w as thereupon, Kesolved unanimously, That, in the opinion of this Committee, the work referred to in the prospectua will prove highly useful to I he Democratic Party, and benefi eial to the community; that the plan of the work appevt to l>e judiciously adapted to the attainment of the impor tant object* announced by the publishers, and we cordially recommend it lo the support of our fellow citizcni. An extract from the minutes. Edward Sakdfoed Secretary. ADVERTISEMENT*. It la intended to reader Ums United botes Magazine * medium for hierery and general advertising, for which it* thorough nrrulaliun in every State o( the Liuon, and abroad, will render it veiy advantageous. AdvertiM-nenl* will be inaerted on the cover of the United States Magazine on the following terms : 1 square, (its lines,) one insertion, - ? 91 00 do. do. three nines, ? r 2 50 1 column, one insertion, ? ? ? 3 00 do. three Uiuea, ? ? ? . ? 7 50 1 page, one insertion, ? ? 5 00 do. three times, ? - ? ? 10 00 1 square, per annum,- - ? ? ? 10 00 Single pages stitched in for 9? 50; 0 p*K?*. 910; 10 pages. $&>. These will be inserted only in the copies de livered by hand in the large cities, and 3000 of each will l<e required The oiher advertisements are published in every copy. A Magazine lieiug generally preserved, and retained lor perusal for months on the family table, ro dent U a murk more desirable agent tor appropriate adver tising than i>?ws|>ai?ers or other evanesrent periodicals. Advertisements will he received by all the Agent*. fW Bills intended for stitching with the cover, if deliv> ered at the follow lug places, free of eipense, will be re gularly forw aided Boston, and Eastern States, Otis, Broader*, At Co., agents; New York, at the office of Mr. O'Sullivan, No. 63 Cedar street; Philadelphia, R. P. Destlver, Market street; Baltimore, F. Lucas, Jr. They should be sent not later than the 10th day of the month previous to that required for insertion LaNGTREE At O'SULLIVAN, Washington, D. C., March 4, 1837. PROSPECTUS TO THE AMERICAN MONTHLY MAGAZINE, ros 1?37. rtvg dollars rica vist. ON the first of January was published the first number of the nuith volume of the Ameiican Monthly Magazine. Tbia will commence the second year of " the Naw Series of the American Monthly." One year has paased since, by the union of the New England Magazine with this well established periodical, the resources of a publication which had previously alworbed those of the Amencan Monthly Review and of the 1'uited States Magazine, were all concentrated in the Atnericun Monthly Maga zine ; giving at once so broad a basis to the work as to stamp lis national character and ensure it* permanency. The number of pages, which have each mouth exceeded one hundred, waa at the same tune increased, to make room for an additional supply of original matter ; slid each number of the work throughout the year ha* been orna mented with an engraving, executed by the first artists in the country. How far the literary contents of the Maga zine have kept pace with tiieae secondary improvement*, the public are the liest judges.. The ann of the proprietor* has been from the first to establish a periodical which should have a tone and character of its own ; and which, while rendered sufficiently amusing to ensure its circula tion, should ever keen for its main object the promotion of good taste, and sound, vigorous and fearless thinking, up on whatever suluect it undertook to discus* ; which, in a word, should make it* way into public favor, and establish i its claims to consideration, rather by what should be i found in its pages than by any eclat which the names of popular contributors, or the ^dissemination of laudatory. ' paragraphs,* could confer. Nor has the American Monthly ? had any reason to regret having adopted and followed out , the course prescribed to itself from the first. It has in-. deed lost both contributor* and *ub*cnber* by the tone of i *oioe of Us pupcrs ; but by the more enlightened who hav? I judged of the tendency of the work in the ugirregate ai d | not by Its occasional difference of opinion with themselves, I "it has been sustained ? ith spirit and liberality. It ha* I been enabled to merge from infancy and dependence upon extrinsic circumstances; and the quickening power of many minds, laboring successively or in unison, has in fuced vitality into the creation while shaping it into form, until now it has ? livinjt principle of its own. It has he come something, it is hoped, which " the world would not willingly let die," Hut though the subscription list of the American MonTi,-'? has enlarged with the publications of every number during the last year, it is not yet sufficiently full to justify the publisher* in carrying into effect their plan of liberally compensating both the rusular contributors and every w ri ter tnat furnishes a casual paper for the week. Nor till literary labor in every department of n periodical is ade quately thu- rewarded, can it fully sustain or merit the character which an occasional article from a well paid popular pen may give. If these views be just, there is no impertinence in ap pealing here to the public to assist in furthering them by promoting the prosperity of the American Monthly Maga zine. The work which is under the editorial chagre of C. F. Hoofman and Park Benjamin, Esq. w ill continue to be published simultaneously on the first of every month, in New York, by George Dearborn fit Co., in Boston by Otis, Broader* fi: Co., communications received at the Office, No. 38, Gold Street, New York. PROSPECTUS OF THE SOUTHERN LITERARY MESSENGER, THOMAS W. WHITE, EDITOR AND PROPR t LTOR. This is a monthly magazine, devoted chiefly to literature, but occasionally finding room for articles that fall within the scope of Science ; and not professing an entire disdain of tasteful itlrclion*, though it* matter haa been, as it will continue to be, in the main, original. Party politics and controversial theology, a* far a* pos sible, are jealously excluded. They are sometimes so blended with discussions in literature or in moral science, otherwise unobjectionable, as to gain admittance for thn sake of the more valuable matter to which they adhere : but whenever that happens, they are incidental only ; not primary They are dross, tolerated only because it can not well be severed from the sterling ore wherewith it is incorporated. Reviews and Critical Notices occupy their due space in the work ; and it is the editor's aim that they should have a threefold tendency?to convey in a condensed form, such valuable truths or interesting incidents as ar% emlwdied in the work* reviewed.?to direct the reader'* attention to books that deserve to be read,?and to warn him against wasting lime and money upon that large num ber, which merit only to lie burned. In this age of publi cations, that by their variety and multitude distract and overwhelm every undiscriminitting student, impartial criticism, governed by the views just mentioned, is one of the most inestimable and indispensable of auxiliaries, to him who does wish to discriminate. Essays and Tales, having in view utility or amusement, or both,'?Histoncal Sketches,?and Reminiscence* of events too minute for history, yet elucidating it, and height ening its interest,?may be regarded as forming the staple of the work. And of indigenous poetry, enough is pub lished?sometimes of no mean strain?to manitest and to cultivate llio growing poetical taste and talent* of our country. The limes appear, for several reasons, to demand such a work?and not one alone, but many. " The public niind is feverish and irritated still, from recent political strifes The soft, assuasive influence of literature ia needed, 10 allay that fever, and soothe that irritation. Vice and folly are rioting abroad : They should be driven by indignant rebuke, or lashed by ridicule, into their fitting haunts. Ignorance lords it over an immense proportion of our people. Every spring should be set in motion, to arouse the enlightened, and to increase their number ; so that lha great enemy of popular government may no longer brood, like a portentous cloud, over the destinies of our country. And to accomplish all these ends, what more* powerful agent can be employed than a periodical, on the plan of the Messenger; if that plan be but carried out in practice The South, peculiarly, requires such an aeent. In all the Union, south of Washington, there are but two literary fieriodicala ' Northw ard of thai city, there are probably at cast twenty-five or thirty ! Is this contrast justified by4 the wealth, the leisure, the nattve talent", or the actual literary taste of the Southern people, compared with tuoso of the Northern T No: for in wealth, talents, and taste, we may justly claim at le#?.t an equality with our I rs thren; and a domestic institution exclusively our own, beyond all doubt affords us, if we choose, twice theIcisutu for reading and writing, which they entoy. It was from a deep sense of this local want, that the word Southern was engrafted on Ihe name of tins periodical; and not with any design to nourish local me judiccs, or to advocate supposed local interests. Fur from any such thought, it is the editor's fervent wish to sec thn North and South liound endearingly together forever, in the silken bands of mutual kindness and affection Fur from meditating hostility to the North, he has already drawn, and he hope* hereafter to draw, much of his choicest matter thence ; ann happy indeed w ill he deem himself, should hi* pages, by making each region know the other Ik:Iter, contribute in any essential degree to dispel the lowerinr clouds that now threaten the peace of Imth, and to brighten arid strengthen the sacred Uc* of fraternal love. The Southern Literary Messenger haa now reached the fifth No. of its third volume. How far it ha* acted out the ideas hete filtered, it is not for the editor to ssy He believes, however, that it fall* not further short *f them than human weakness usually makes practice fall short of theory. The Messenger I* issued monthly. Each number of th? work contains 64 large super-royal pages, printed in the very handsomest manner, on new type, and on paper equal at least to that 011 which any other j>eriodical i* printed in our country. No sulnicription will be received for less than a volume, and must commence with Ihe current one The price ia Jf.'i per volume, which must be paid 111 all cases at the time of subscribing. This is particularly adverted to no? to avoid misapprehension, or' future misunderstanding?ss no order will hereafter la; atteuded to unless accompanied with the price of subscription. The postage on the Messenaer is six cents on any sin gle No. (or all distance* under 100utiles?over 100 miles, ten cent*. All communications or lcitera, relative to the Messen ger, must be addressed to Thomas W \\ hitk. Southern Literary Messenger Office, Richmond, ' ? THE MAUI SOMAN I* published setni-weekly and weekly?the Semi-weekly, every Wednesday and Saturday, and the Weekly, every Saturday, Advertisements intended for the Wednesday paper should be sent in early on Tuesday?and for the Saturday edition, eaily on Friday. Ofice, E Mtrrtt, near Ttmtk