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THOMAS ALLBN,
Tui
u w oobliahed Tri-we*Wy during tho
.? s~?"?<?"?? "" -
~ 'v..\rn
month* ; nor unless 1*"1 ?" ud*ance
nici or advmtuiho.
Twelve line*, or lew, three insert u?|f, ? ?? JJ
Each additional insertion, *
linger advertisements at proportionate "J?*
A liberal diacount made U? those who adverUae by
'^irT^Subecribers may remit to mail, io bjh of ?oWent
k.nk. notion* *ud, at our nak; provided it ahaII ap
pearby^t postiuTster's certificate, that .uchroi.iitu.ice j
A'hStS'llCS'wffl b? made to companies of fi*?
or ...ore tr.n.mitt.ng their ^XlZ/TlmJ a* our
Postmaster*, and other. authoriaed, ?cl'n? "
ai/ents will be entitled to roce.ve a copy of the papc
graif for every five subscriber* or, at that mt' Pfr "n
on sul?cr.pt,on. generally ; the term. ^mj{ fu fiUed^
letters and commui.wat.ona intended for the
bliahment will not be received unleaa the postage
PROSPECTCS.
Tub MiBtaomxN will be devoted to the support of
the principles and doctrine* of the democratic party, aa
delineated by M4|?siadi*M?, and will aim to eon.uini.iata
uThU *5% -n
national government, which haa been repeatedly ina
cated by the general auffersge, aa essential to the peace
and prosperity of the country, and to the perfection and
iierpltu.ty or lU free institutions. Atthis ume a singu
KTof Ttyco.u.nercu' m
rr ?'
every ramification of society i. invaded by distress, and
the social edifice acema threatened w.th disorganixation,
every ear ia filled w.th predictiona of evil and the i.iur
mu rings of despondency ; the general government is
lK.ldlvMM.led by a large and wa^ctableportionofthe
people, aa the direct csuse of their difficulties , open
reaiauu.ee to the law. ia publicly encouraged, and a
apint of maubordination ia foatered, es a necessary
defence to the pretended oaurpattona of the party in
power; aome, from whom better things were hoped, are
making the " eonfuaion worae confounded, by a head
long pureuit of extreme notiona and indefinite phanton.a,
totally incompatible with a wholeao.ne .tate of the
country. In the midst of all these difficulties and em
barrassments, it ia feared that many of the leaa hrm of
the frienda of the adinmiatration and ?u|*porter? of
democratic principle* are wavering in their confidence
and beginning, without just cause. to view *',th ^lru"1
those men to who... they Rave been long attached, and
whoae elevation they have laboured to promote from
honest and patriotic motive*. Exulting in the anticipa
tion of diauiay and eonfuaion amongat the supporter. or
the administration aa rhe consequence of these thtrtte,
the opposition are consoling the.naelvea with the idea
that Mr Van Burcn's fr.ei.da, as a national party, are
verging to dissolution; and they allow no opportunity to
pas. unimproved to give eclat to their own doctrine..
They are, indeed, maturing plan, for their own future
government of the country, with .eeming conhdcnce of
certain success. , . .
Thia confidence i. increased by the fact, that visionary
theorie., and an unwise adherence to the plan for an
txclutire metallic currency have unfortunately carried
aome beyond the actual and true policy of the govern
ment ; and, by impairing public confidence in the
?vstcm, which ought to be preserved and regulated, but
not destroyed, have tended to increa?e the difficulties
under which the country i. now labouring. All these
aeem to indic.te the nece.aity of a new organ at the
.eat of government, to be e.tabli.hed upon sound prin
? iplea, and to represent faithfully, and not to dictate, the
rial policy of the administration, and the tme aentimenta,
measures, and interest*, of the great body of it* sup
porters. The necessity also appears of the adoption ol
more conservative principles than the conduct of those
aeem* to indicate who seek to remedy abuses by de
stroying tht institutions with which they are found con
nected. Indetd some measure of contribution i* deemed
essential to the enhancement of our own self-reapect at
home, and to the promotion ol the honor and credit of
the nation abroad. . I
To meet theae indication, thi. undertaking haa been
instituted, and it ia hoped that it will produce the effect I
of liiapiring'tho tunidwith courage, the de*|>ondirig with
hope, and the whole country with confidence in tho
administration of It. government. In tlu.
journal will not aeek to lead, or to follow any faction, or
to advocate the viewa of any particular detachment of
men. It will aapire to accord a juat measure of aup
port to each of the co-ordinate branchea of the govern
ment, in the lawful exercise of their constitutional
prerogativea. It will eddrcaa itaelf to the understandings
of men, rather than appeal to any unworthy prejudice,
or evil patsion*. It will rely invariably upon the prin
ciple, that the *trength and security of American insti
tutions depend upon the intelligence and virtue of the
PCtFh? Madisonian will not, in any event, be made the
in.trun.eut of arraying the north and the south, the east
and the west, in ho.tile attitudea toward* each other,
upon any subject of either general or local interest. It
will reflect only that spirit and thoac principle* of mutual
conceaaion, compromise, and reciprocal gowl-will, which
so eminently characterized the inception, formation, and
subsequent adoption, by the several States, of tho con
stitution of the United Sutea. Moreover, in the Mine
hallowed spirit that ha., at all periods eince tlie adoption
of thaUltocred instrument, characterised its dkfknc*
by THr raoPLB, our pre.s will ha.ten to ita aupport at
every emergency that shall ari.e, from whatever quarter,
and under whatover guiae of philanthropy, policy, or
principle, the antagonist power may appear.
If, in this reaponaible undertaking, it shall be our
good fortune to aucceed to any degree iu promoting the
hartnonv and prosperity of the country, or in conciliating
lealouaies, and allaying the asperitie. of party warfare,
by demeaning ouraelf amicably towarda all; by indulg
ing personal animoaiiiea toward, none; by conducting
ouraelf in the belief that it ia perfectly practicable to
differ with other, in mattera of principle and of expe
diency without a mixture of personal unkindness or loss
of reciprocal respect; and by " a.kmg nothing that is
not clearly right, and submitting to nothing that is
wrong," then, and not otherwise, will the full measure
of its intention be accomplished, and our primary rule
for it. guidance be sufficiently observed and satisfied.
This enterprixe ha. not been undertaken without the
approbation, advisement, and pledged.aupport of many
of the leading and soundest mind, in the rank* of the
dcmocractic republican party, in the extreme north and
iu I lie extreme aouth, in the east and in the west. An
association of both political experience and talent of the
highest order will render it competent to carry forward
the principles by which it will be guided, and make it
uscfi.l as a political organ, and interesting as a journal
of new.. Arrangements also have been made to fix the
establishment U|?n a substantial and permanent basis.
The subscriber, therefore, relies upon the public for so
much of their confidence and encouragement only as the
fidelity of his press to their great national interests shall
pro,, it.elf ? THOJ(AS A,XES
Washihoton Citv, D. C. July, 1837
?
NOTICE.
THE New York snd Boston Illinois Land Company
will offer at public auction at their office in the town
ot'Quincv, Adams County, Illinois, on Mondny the ii7th
day of Novemltcr next, 100,000 acres of their Lands situ
Html in the Military Tract in said State.
Lists of the lands may be had at the office of said Com
pany in Quincy and at 44 Wall Street, New York.
A minimum price will be affixed to each lot at the time
it is offered.
JOHN TILLSON, Jr.
Agent for the N. Y. it 1). 111. L Co.
Aug. 25, 1837.
lawtNov?8
PRINTER'S PAPER.
PRINTING PAPER, with or without sizing, of all
qualities, made at the Saugerties Mill, Lister County,
New York Orders will lie promptly attended to if ad
dressed tothe Agent, WILLIAM BRADFORD, No. 16
Spruce street, New York.
HENRY BARCLAY, Proprietor.
Sept. 2. 2w6
G1 LOVES, SUSPENDERS, STOCKS. WOOLLEN
r SHIRTS, AND DRAWERS.? We have uvday
opened?
30 do*. Suspenders, best kind.
AO do. superior Gloves.
50 do. Stocks, best make.
50 pieces Silk Pocket Handkerchief*
50 doaen Gentlemen's Riblied Woollen Drawers.
50 do. do. do. do. Shirts.
6 do. Raw Silk Shirts.
Also,
50 pieces Irish Linens.
200 do. Sea Island Cotton Shirtings.
BRADLEY ii CATLETT
Sept. 8. 3t&w2wS
THE MADISONIAN.
.. . ^ / , % ?? <c*4 ' **'' '/^ lNS?*^i ^1?"% -
VOL.1. WASHINGTON CITY, S ATUR DA Y,. SEPTEMBER 23 , 1837. ]
STOVES! HTOVES! AND ORATES.
1HAVE just receiwd fraw the North ? very twin sup
uly of Stoves, Grata*, and double Block Tin Wue?
Coffee Biggins, Dressing Boxes, <ke. I hare Stoves of
almost all kiwis, suitable foe waotf or coat. In the drat
place, I hare the Notary Cooking Btoves of all the differ
eat sixes, No. 0, 1, 2, and 3. Tan Plate Stovea of all the
different siaea, both for cooking and plain. Franklin
Stoves of all the different aiaoa. I have some very aplan
cli<t Parlor Stoves for burning wood or Imam. Coal Stovea
of all siaea. l>r. Spoor's Coal Stoves, fancy and plain
tops, from No. 1 to 3. Coal Stoves of other kinds. Dr.
S|>oor'i Coal Stores and the Globe Stovea are most suit
able for Public oflhees, large halls, churches, stores, ai-d
steamlioata, or any apartment where you wish s ttron*
heat. In fact I have Stovea that will heat any place, either
with wood or coal. I have the latest fashion Mantle
Gratea, both low aud high fronts, very cheap?and if I
have not a pattern of Grate on hand that will auit, I can
make it at the shortest notice, ?o suit any fancy. I am
fully prepared to do any kind of Tin, Copper, Sheet Iron,
Stove, Grate, Lead or Zinc work, at the shortest notice.
Any person or persona buying Stovea or Grates from the
subscriber, or any other thing in his line, will have them
sent home in good order, free of any extra cliarge. Stovea
will lie put up ready for use, free of any ettm charge.
All the above articles will be sold very low, and all or
ders thankfully received and punctually attended to. with
despatch, as I shall have a number of Drat rate workmen.
1> ive doors East of D. Clagett's Dry Good Store, next
door to ?. Dyer's Auction Store, Penn. Av.
CLEMENT WOODWARD.
Sept. 9. (Intel, and Globe.) 3t8
BANK OP WASHINGTON.
89th Auuust, 1837.
AT the regular meeting 9f the Board thia day, preaent,
the President and nine of the Directors, it was una
nimously
Ht?Uvtd, 1st. That on and after the first of September
next the notes of this Bank he redeemed 'n apocie.
2d. That all depositee remaining indrawn, (the same
having nenrly all been received aincr the aaspension of
specie payments,) and all future iVpoeites, other than
such as may be made in specie, an^ be :it the time so en
tered, be payable in notes currept in the District of Co
lumbia.
3d. That all collections for tanks and individuals, and
all curtails, lie received in sotes current as above ; and
that all sumsao collected b? paid in like funds.
W. GUNTON, President.
JAS. ADAMS, Cashrr. 6teod6
/CONGRESSIONAL DOCUMENTS, JOURNALS,
LAWS, AND DEBATES?GEORGE TEM
PLEMAN has for *ale at bin Book and Stationury Store,
opposite the General Post Office, all the Journals of Con
gress, from 1774 to 1837. Gales and Seaton's American
State Papers ia 21 folio vola., from the first to the 24th
Congress inclusive, orfrom 1*789 to 1823.
The Regular Series of Documents in royal 8 vo. vol
umes, as published each Session, from the 18th to the
24th Congress inclusive, or from 1833 to 1837. The Laws
of Congress, in 8 vols, containing the Laws from the first
to the 22d Congress inclusive, or from 1789 to 4th of
March, 1833 ; the series is made complete to the 4th of
March, 1837, by the pamphlet Laws of the 23d and 24th
Congress. This is tne edition used by Congress and the
Public Offices.
Story's Laws of the United States, in 4 vols, from 1789
to 4th of March, 1837. The 4th vol. contains an index to
the four volumes.
The pamphlet or Session Laws of the United Stales
from the 5th to the 24th Conrgess inclusive, or from 1797
to 1837. Any separate pamphlets can be furnished.
Gules and Seaton's Register of Debates in Congress.
All Documents on Foreign Relations; Finance, Com
merce, and Navigation; Internal Improvement; Military
and Naval Affairs ; Indian Affairs ; Public Lauds, and on
Claims of every description can be furnished separately
in sheets.
_ Also, for sale as above, a large collection of files of
Newspapers published in Washington, and some of the
principal cities in the United States.
Aug. 23. t<3
BOARDING HOUSE.
MRS. TAYLOR can accommodate Members of Con
gress, or other gentlemen, cither with or without
families, at her house, pleasantly situated, near the north
east comer of 10th and E street; being from thence an
agreeable walk to the Capital or to the public Depart
ments.
Aug. 30. tfS
HOUSE FURNISHING GOODS.?We have for
sale?
50 pieces ingrain carpeting, which we will sell low.
50 do Brussels.
62 ,7o 5-4, 0-4, KM, and 17-4 Linen Sheetings.
100 do 7-4, 8-4 Bnrnsly Diapers.
8-4, 10-4 and 20-4 fine Table Cloths.
Napkins to match.
1 hale Russia Diaper.
1 bule wide Crash.
Also, 50 Marseilles Quilts.
BRADLEY & CATLETT.
Se.p 9?3tw2w ?
I :
mLAOR SALE, OR BARTER, for property
J7 in the citv of New York, or lands in Illi
nois, the following valuable property in the
village of Oswego :
IO" The rapid growth of Oswego, ifs un
surpassed advantages and great prospects, are too well
and too generally known to require a particular descrip
? tion.
IO" A very minute description of the property is deem
ed unnecessary as it is presumed .that purchasers living
at a distance will come and see, before they conclude a
bargain. Suffice it to say, that it is among the very best
in the nlace.
IE? None but lands of the first quality, with a perfectly
clear title, and free of incumbrance, will be taken in ex
change.
Hy Letters post paid, addressed to the subscriber, at
Oswego, will meet with prompt attention. An ample de
scription of the property offered in exchange is requested.
In East Oswego.?The Eagle Tavern and Store ad
joining, on First street, with a dwelling house and stables
on Second street, being original village lot no. 50, 66 feet
on First street, running east 200 feet to Second street.
The south half, or original village lot no. 44, being 33
feet on First street, running east 200 feet to Second street,
with the buildings erected thereon.
The north-east corner of First and Seneca (late Tau
rus) streets, l?eing 99 feet on First, and 100 feet on Sene
ca streets, with the buildings erected thereon?comprising
part of original village lots nos. 41 and 42.
Three lots, each with a dwelling, fronting Second street;
the lots are 22 feet wide by 100 deep, being part of original
Village lot no. 41.
Lot, with dwelling house, [originnl village lot no. 26,]
lieing 60 feet on First street, mnning west aliout 250 feet,
across the canal into the river, ?o that it has four fronts.
In V, est Orwkoo.?Lot comer of Fifth and Seneca
(late Taurus) streets, opposite the public square, being on
Seneca street 143, and on Fifth street 198 feet, withdwcll
ing, coach house, stabling, and garden. The latter is well
stocked with the best and rarest fruit, ornkmental shrub
bery, flowers. &c.
A lot adjoining the above, being 78 feet on Fourth street
by 58 feet in depth.
Six lots on First street, each 22 feet in'
front, running east 100 feet to Water
street, with the buildings thnreon.
The Wharf and Ware houses on Wa
ter street, opposite the foregoinx, lieing
132 feA on Water street, and running
east about 110 feet to the river. [This
wharf has the deepest water in the inner
harbor.]
Lot corner of Seneca and Second streets, being 24 feet
on Seneca, and 66 feet on Second streets. Five Lots ad
joining the foregoing to the east, each being 22 feet on
Seneca street, by 66 feet in depth. The above being part
of the original village lot no. 36.
The north half of block no. 63, being 200 feet on L'tica
[late Libra] street, by 198 feet on Third and Fourth
streets.
On Van Burkn Tbact.?Lot no. 1, Montcalm street,
being 200 feet deep, and running north along Montcalm
street several hundred feet into the Lake.
Lots no. 2 and 3, Montcalm street, each 66 by 200 ft
12 " 13
13, 14, and 15,being 345 ft, on Bronaon st.
240 on Vnn Buren st.
300 on Eighth st.
North 3-4ths of lot no. 25, corner of Van Buren
and Eighth streets, being 200 feet on Van Buren, and 148
feet on Eighth streets.
Lot 82, south-west comer of Cayuga and Eighth streets,
66 by 198 feet.
Lots 83, 84, 85, 86, 87, on Cayuga st. 66 by 198 ft.
88, a. e. corner of Cayuga and Ontario streets, 198
by 104 feet.
89, s. w. comer of do, 198 by 195 ft.
70, on Seneca St., 66 by 198 feet.
58, s. w. corner of Seneca and 8th st*., 66 by 198 ft.
50, n. e. corner of Ontario and Schuyler streets, 198
by 104 feet.
59. on Seneca street, 66 by 198 feet.
<5, a. e corner of Seneca and Ontario streets, 198
by 104 feet.
76, s. w. comer of do. 198 by 130 ft.
64, n. e. corner of do. 198 by 104 ft.
46, 47, 48,49, on Schuyler st., 66 by 198 ft.
1 he incumbrances on the whole of this property do not
exceed sixteen thousand dollars, which may either re
main, or if desired, can tie cleared off
rw- ? 00, C. J. BURCKI.Fl.
Oswego, N. Y., Aug. 22,1837. 2m6
ID* Compris
ing the original
village lota no.
3 and 4.
NOTIcSrpipMBPB
The subscriber *?>>???? procure ?
ground of about ? or 24 acre., intended for Wheat
or Rye, Ibis xwon, as near th. Capitol ? poonibi* ; for
th? purpoae of exhibiting during the pre?ot session of
Gongieu, hit Patent IUvol'iB| Harrow, flt-c. Al a wool
of th. superiority of this implement ovor lho common drag
harrow Cr pul,eri?i?? ?he ??? **
weeds, he is willing to take one hatf of the field w ith three
rood horses, to be worked abreast by one man, against s.i
common drag harrowa, each two horses and <w? man ; in
dol?g whieh, he pledges himself, thai the earth shall be
put in as good, if not better order in the same spac*of
time, whieh may be required with the six co?W?? harrowa
After the work is done, disinterested judges will he se
lected on the spot to examine the same with a four P'""W
fork or rake, to enable thein to decide correctly which of
the implements is best calculated for preparing the ao?!
for the reception of the grain. And as a further proof of
the value and superiority of fus RoUnr Harrow, the ?rain
will be turned in by it on one-half of the field, i?nd the
other half in the usual way bjr Ihe drag harrow. Whentho
grain is reaped, threshed and measured, he does not hesi
tate to insure an increase in tlie crop of 10 per cent., ore*
that half which may be cultivated by the common harrow.
Where farmers are in the habit of ploughing in their grain,
he will take 5 pecks to the acre, and produce 10 per cent,
more by Rotary Harrow, than fl pecks turned in with the
plough. JAMES D. WOODSIDE,
Near the West Market.
Sept 16 Wtkinghm, D. C
OWEN & CO., MERCHANT TAILORS.
? 7 Buildings, and near Fuller's Hotel, respectfully
beg leave to inform their friends and the public 10 general,
that they have lately fitted iw, and w? opened, the.
store formerly o?M?"?f imMO? A Co , dMttltto,. for
the accommodation of their patrons in that of tbe cily
where they bavo laid in a moat extenwve "took of t ALL
and WINTER goods, cousisting of the following c^ice
assortment of articles for gentlemen s wmf ?
For coats, superfine pieces of brosdcloths, wool-dy ed
black, blue, dahlta, Adeluide, invisible green, Polish do.,
claret, and all the favorite co*ora of the day.
For pantaloons, superfine black cassimere, U>noon
stripeddo., black ribbed do., gray mixed do., buff, V ictona
striped buckskin, fancv do., &c. . . ?
For vests, black silk velvet, fancy figured do , Genoa
do., woollen do., striped chslla gold tissue, black.aatin,
figured do., plain anu figured silks. ? ?
E. O. i Ct. have also received s large collection of
stocks, plain, trimmed, and embossed, handkerchief,
opera ties, ailk shirts and drawers, buckskin do., patent
merino do., shoulder braces, union do., (two excellent ar
ticles for the support of the back and expansion of the
chest,Igum elastic suspenders, buckskin do., silk, kul, and
buckskin gloves, Ac.
Sept. 14. lml1
WASHINGTON BRANCH RAILROAD ?On and
after Monday next, the 11 inatant, the cars will leave
the depot in this city for Baltimore,at 9 o'clock A. M., in
stead of 9 3-4 A. M., ss heretofore. ,
The object of this alteration is to render certain the ar
rival of the train at Baltimore earijr enough to afford
ample time for passengers going North to take the steam
boat, which now departs daily for Philadelphia, at half past
12 o'clock. . ? . ,
The afternoon train will, as heretofore, leave the depot
at a quarter after 5 o'clock, P. M.
SO?dOtAwtf. , . _ . _
(Globe, Native American, Alexandria Gazette, and Po
tomac Advocate.)
E have for sale, which we will have made up in the
, . beat manner?
20 pieces super, black Cloths. _
100 do ribbed and plain Cassimeres.
20 do plain and figured velvet Vestings.
50 do colored and ^^TaCATLETT.
Sep 9?3tw2w8 ,
W
W
E HAVE FOR SALE?
100 pieces Black Silks, superior make
50 do Figured Blue Black do
150 do Colored Figured Silks
100 do Plain do
Tta ?ni b. & catlett.
SO?3taw3w (Globe.)
THE UNIVERSITY OF MARYLAND.
The session of t^ie medical depart
ment of ihis Institution, will commence on the
last Monday of October next, and continue until the last
any ot r enruary. ^ "
THE FACITC/TY OF PHYSIC ARE,
II. Willis Baxley, M. D., Professor of Anatomy and
Physiology.
Henry Howard, M. D., Professor of Obstetrics, and of
the Diseases of Women and Children.
Michael A. Finley, M. D., Profeasor of Pathology,
and of the Practice of Medicine.
Robert E. Dorsky, M. D., Professor of Materia Me
Jica, Therapeutics .Hygiene, and Medical Jurispru
dence.
William R. Fisher, M. D., Professor of Chemistry
and Pharmacy. _
John Frederick May, M. D., Professor of the Prin
ciples and Practice of Surgery.
Ellis Huohes, M. D., Demonstrator of Anatomy.
In making this annual announcement, the Trostees re
spectfully state, that, in addition to a Medical faculty of
great ability, having high claims to public confidence and
patronage, this Departmentof the Universityof Maryland
offers other and peculiar advantages to Stude * for the
acquisition of Medical knowledge. Placed in the most
favorable climate for attending to dissections, and pos
sessing commodious rooms for that purpose, the Universi
ty of Maryland commands an unequalled supply of Matt
rial for the prosecution of the study of Practical Anatorp
such, indeed, is the abundance of Subjects, that the I ?
feasor of Surgery will afford to the Shulent* an opportunity
of performing tKrmielvei, under his direction, tvay Surgi
cal operation :?a great practical adoantart, not heretofore
furnished, in any of our Medical Schools
This University has also an Anatomical Museum,
founded on the extensive collection of the celcbtated Al
len Burns, which became its property by purchase, al
great expense; and to this collection numerous additions
lave been annually made :?and, of late, many very VB'U:
able preparations bave been procured from r ranee and
Italy--which together afford ample means to make a great
variety of illustrations of hqolthy and diseased structure.
The Baltimore Infirmary, long and favorably known aa
an excellent school of practice, is connected with the Me
dical Department, and furnishes every class of disease lor
the practical elucidation of the principles taught, by the
Professors of the Practice of Medicine and of Surgery
who, besides their regular lectures, will impart Clinical
instruction, at the Infirmary, at stated periods, in each
week during the Session. .... f .w
The Chemical and Philosophical Apparatus of this
University, is of great extent and value, much of it having
been selected in Europe, by the late distinguished Pro
fessor De Butts. And to a Laboratory, provided with
every thing necessary for a Counif of Chemical instruc
tion, are united the numerous and varied articles required
to illustrate the lectures on Pharmacy and Materia Me
dina. , , r
Neither expense nor care has been spared to aecure lor
the University of Maryland the facilities necessary for
the acquisition of a thorough Medical Education.
THE EXPENSES ARE:
THE rtR8T COURSE.
For attending the Lectures of six Professors,
each ? * * * ?
For attending the Dissector and Demonstrator, ?
For attending Clinical Lectures and instruc
tion at the Infirmary, ?
$103
THK SECOND COURSE.
For attendance on the Lectures of six Profcs
aors, -
Graduation and Diploma, ....
$110
The whole being only 213 dollars. '
But Students who have attended one course of Lec
tures in another respectable Medical School, may gradu
ate here after they have attended one full course in this
University?where the course? ofinstruction is a* com
plete as that of any othrr Medical School?each Profes
sor being, in this Institution, required to lecture evey
day?and where, from the facility with which SUB
JECTS are procured, Dissections can be prosecuted with
more ease, and at less expense, than at any other place :
?here too, good boarding can I* engaged, ou as cheap
terms as in any other Atlantic City.
THE OrriCKES ABE,
His Excellency Thomas W. Veaiy, Governor of Mn
ryland, President of the Board of I rustees.
The Hon. Roger B. Taney, Provoat.
THE BOARD OF TRUSTEES.
Nathaniel Williams,
Vice President.
John Nelson,
Solomon Etting,
Isaac McKim,
Dr. Dennis Claude,
James Cox,
Bv order,
JOSEPH B WILLIAMS, Secretary.
Baltimore, 2Gth August, 1837. twtlNS
William Gwynn,
Dr. Hanson Penn,
James Wm. McCulloh,
Henry V. Sotnerville,
Dr. Samuel McCulloh,
and
John G. Chapman.
treasury note bill.
8PEECH OF MR. BENTON,
OF MISSOURI.
In Senate, Monday, Sept. 18, 1837.
Mr. BENTON said, he should not have
naeu in this debate, had it not been for the
misapprehension* which a?ein to pervade
k ??8 r ? Senators as to the character of
the biu. It is called by some a paper-money
bill, and, by others, a bill to germinate a new
national debt. These are serious imputations,
?fid require to be answered, not by declama
tion and recrimination, but by facta and rea
sons, addressed to the candor, and to the in
telligence, of an enlightened and patriotic
community.
I dissent from the imputations on fhe cha
racter of the bill. I maintain that it is neither
a paper money-bill, tor a bill to lay the foun
dation for a new national debt; and will brief
ly give my reasons for believing as I do on
both point*.
I here are certainly two classes of Trea
sury notes?one for investment, a ltd one for
circulation; and both classes are known to
!f j'j. possess distinctive features
which define their respective characters, and
confine them to their respective uses.
The notes for investment bear an interest
sufficient to induce capitalists to exchange
gold and silver for them, and to lay them by
a? a productive fund. This is their distinctive
feature, but not the only one ; they possess
other subsidiary qualities; such as transfera
bility only by indorsement?payable at a fixed
tune-?not re-issuable?nor of smalWenomi
natioii and to be cancelled when paid.
Notes, of this class are in fact loan notes
notes to raise loans on by selling them for
hard money?either immediately by the Se
cretary of the Treasury, or, secondarily, by
the creditor of the Government to whom they
have been paid. In a word, they possess all
the qualities which invite investment, and for
bid and impede circulation. The act of 1812
authorized an issue of notes of this descrip
tion. They bore five and two-fifths per cent,
interest, with an express clause that the Se
cretary of the Treasury might raise money
upon them by loau. I presume there are Se
nators present who were members of the
House of Representatives in 1812?who gave
the sanction of their approbation to the Trea
sury note law of that year, and who would be
very unwilling to hear the epithets applied to
that law which are lavished upon this bill,
which is copied from it.
Die Treasury notes for currency are dis
tinguished by features and qualities, the re
verse of those which have been mentioned.?
1 hey bear little or no interest. They are
payable to bearer?transferable by delivery?
re-issuable-?of low denominations?and
frequently re-imbursable at the pleasure of the
Government. They are, in fact, paper mo
ney, and possess all the qualities which for
bid investment, and invite to circulation. The
Treasury notes of 1815 were of that charac
ter, except for the optional clause to enable
the holder to fund them at the interest which
commanded loans?at seven per cent.
These are the distinctive features of the
ClU1**TB ?*?? Now try the commit
tee s bill by the test of these qualities. It will
be fourid that the notes which it authorizes
belong to the first named class ; that they are
to bear an interest, which may be six per
cent.; that they are transferable only by
endowment?that they are not re-issuable?
that they are to be paid at a day certain ; to
wit, within one year?that they are not to be
issued of less denomination than one hundred
dollars?are to be cancelled when taken up
and that tho Secretaiy of the Treasury is
expressly authorized to raise money upon
them by loaning them.
These are the features and qualities of the
notes to be issued, and they define and fix
their character as notes to raise loans, and to
be laid by as investments, and not as notes for
currency, to be pushed into circulation by the
power of the Government, and to add to the
curse of the day by increasing the quantity of
inconvertible paper money.
The execution of the act, and especially
the cardinal feature of the quantum of inte
rest, is left to the President and the Secreta
ry of tho Treasury. I presume it will be ex
ecuted as a law to borrow monev; and in that
point of view the interest was left open, under
a maximum limit, as is proper to be done in all
propositions for loans. Bids may bo invited
by advertisement; the competition of lenders
may fix the interest; capitalists may fix it by
competition, though nominally left to the dis
cretion of the President and Secretary ; and
at whatever rate it is thus fixed?at whatever
rate a loan of gold and silver is commanded?
at that rate the whole issue, made at any one
time, ought to go. There should not be two
rates of interest; a high one for the indepen
dent and opulent capitalist, and a low one for
the helpless and necessitous public creditor.
This is my opinion of the character of these
I reasury notes, and of the mode of using
them. I cannot doubt but that lenders will i
present themselves, and that the whole ten
millions may be borrowed in gold and silver
just as fast as the Government needs it. That1
opinion is formed upon data?upon the great
amount of specie now in the country?its un
productiveness to its present holders, and the
facility with which large amounts of specie
were borrowed immediately after the bank^
suspension, and the commercial revulsions of
1819. The specie in the Uuiled States can
not be less than it was six months ago, to wit,
eighty millions of dollars ; for it is shown by
the custom-house reports nnd other data, that,
notwithstanding the efforts to ship it to Eu
rope, the imports and exports are about even
(luring that time ; and that, taking the whole
fiscal year together, the imports now exceod
the exports by nearly four millions of dollars ;
and that near nine hundred thousand dollars
in gold have been coined in the first three
quarters of the present calendar year. The
specie in tho country cannot, therefore, be less
than $80,000,000, and, upon the calculation
of last year, is more. The whole of this vast
amount is lying idle, barren, and unproductive
to its owners?not thai they are at all unwilling
to lend it, nnd to receive interest, but for want
of borrowers in whom they have confidence.
I he I nited States will present that borrower,
and will bring forth the hoarded treasures
which the lack of general confidence now
consigns to sterility in private chests, and in
special bank deposites. Thus it was in 1819,
*20. I he commercial and bank catastrophe
of that period look place in 1819 ; in letut than
a year afterward*, from the collapse of busi
ness, and the stagnation of commerce, money
in the Atlantic citiea was abundant, idle, and
seeking investment at four or five per cent
So says Mr. Chevea?so we can all remem
ber?but to refresh memories, and establish
this important fact, I will read a paragraph
from Mr. Cheve's late letter to Dr. Cooper:
" Before the close of the first year of my
administration, adequate capital had been as
signed to the offices in which it had been de
ficient, and the bank and its offices generally,
then or very soon after, were in a condition to
do extensive business, had the situation of the
country permitted it. But the commerce of the
country became perfectly stagnant. Money
was a drug. The bank, to keep up its busi
ness as far as possible, discounted long pa
Cr, say at four and six months, and perbups
tiger. It was even proposed, with the same
object, to lower the rate of interest to five per
cent. I believe local banks at Boston did, in
some instances, discount at that rate. In Phil
adelphia, 1 think, the local banks discounted
paper having nine months to run, and perhaps
more. The commerce of the country was
reduced from a state of pert .excitement,
such as we have just witnessed, to a state of
collapse, such as I fear we may soon suffer.
Under these circumstances the discounts fell
off, the bank was too safe. It had, at times,
I believe, as much specie, perhaps more, in
its vaults than it had notes in circulation.
Under this want of demand for money, I was
so fortunate as to obtain the public loans, to
the amount of six millions of dollars, which
the hank was able to pay for, and retain an
abundance of specie in its vaults."
Such is the testimony of Mr. Cheves, and
thus easily and rapidly did the recuperative
energies of this young, vigorous, athletic
country recover from the depression and de
solation of that day. The effect cannot be
different now ; on the contrary, the recovery
must be more rapid and easy ; for the distress
now is not the tythe of what it was then ; the
real money in the country, the gold and sil
ver, was not the fourth part then of what it is
now ; the distress then was all real, and no
part of it assumed, pretended, artificial, forced,
and fictitious, contrived with malice afore
thought, to govern elections and politics, and
to coerce the revivification of a national bank.
I remember the times of which Mr. Cheves
speaks. I came to the Senate in 1820 ; and
I know that his picture of the abundance of
money, the facility of getting loans, and the
low rate of interest, is entirely just. Our own
legislation proves it; for a loan of three mil
1 lions was authorized in the session of 1819
20, and another at the ensuing session for five
millions, both expressly to defray the current
expenses of the Government; and both loans
I were eagerly bid for by capitalists, and at
I rates considerably below six per cent. It was
six millions out of these eight that Mr.
Cheves congratulates himself for having been
fortunate enough to obtain for the Bank of the
United States. *The picture drawn by Mr.
Cheves is correct as applicable to the Atlan
tic board, for which he intended it; it is not
correct as applicable to the West, and was
not so intended by him. The great region did
not recover for several years after 1819. It
had been eviscerated of its gold and silver
to sustain the Bank of the United States ! It
had been sacrificed to save that batik ! At the
time that Mr. Cheves refers to, it was, so far
as the precious metals were concerned, the
empty skin of an immolated victim, sacrificed
upon the altar of salvation to a foreign insti
tution. Not so now. Thanks to the ever
I glorious Treasury order. That order has
! saved the West from the fate which over
whelmed her for so many years after the re
vulsion of 1819. She is not now, in respect
to money or any thing else, the empty skin of
a sacrificed victim. She has her fair propor
tion of all the blessings of good government,
as well as her fair proportion of all the bless
ings of Heaven. She is able and willing to
pay her share of the public revenue in solid
money. The sales of the public lands, since
the suspension of specie payments, are fully
equal to what they were in the best years be
fore the two years of the bank expansions and
mad speculations. These sales have gone on
in June, July, and August, at a rate to yield
near four millions per annum, which is equal
to the best years before 1835 and '36. Mr.
Cheves was right in his picture of the money
ed plethora on the Atlantic board. It was a
drug there in less than one year after the
great catastrophe of 1819 ; it will be a drug
there again, and from the same causes
stagnation of trade and collapse of business?
within a few months. It is on the Atlantic
board that these Treasury notes will be bor
rowed. Money will be loaned upon them.
They will be taken as investments, to be laid
by ; not as currency, to be shoved into circu
lation.
?The bill has been denounced as the germ
of a new national debt. It certainly proposes
the creation of a debt. But for what purpose,
and under what circumstances ? To comply
with the maxim, that a public debt is a public
blessing ? By no means! But to relieve the
Suites from being called upon for a reimburse
ment of anv part of the twenty-seven millions
dollars which have been deposited with them
to relieve the merchants from an immediate
payment of four millions?and to relieve the
late deposite banks from an immediate press
for six millions. This is the object. The
loan of ten millions on the Treasury notes
comes in place of the four and six millions
due from merchants and the banks. It is be
cause we cannot collect one, that we create
the other. If we had the ten millions from
the merchants and the banks, we should not
wnnt the Treasury notes ; not being able to
collect those ten millions, we give time to our
debtors, and borrow an equivalent sum. The
outstanding debt due to the United States is
equal to the debt created ; it will be a fund to
pay it, interest and all; for the merchants^ and
banks are to pay interest; and then the T rea
sury note debt becomes a mere nominal trans
action, so far as debt is concerned, being no
burden to the United States, and a relief to
her debtors.
This is the object of this nominal debt, and
under what circumstances is it created 1 Un
dfer the same which occasioned eight millions
to be borrowed by direct loan in the two suc
ceeding sessions after the catastrophe o
1819. We have run the career of that pe
riod over again, and the parallM i? ?xa.cl
every particular. Then, as now, we had ha
our dream of inhaustible aurpluaea, and were
waked up to the reality of an empty Treasu
ry. Then, aa now, we had our forty-seven
millions of revenne ; our nine millionti of an
imal surplus?our bank expansions?our
apeculationa?our bloated and deluaive pros
perity ; and then, aa now, we Were called to
gether to borrow eight millions for the sup
port of the Government, to hear the cries of
distress, and the calla io^ relief. The eight
millions borrowed then, and borrowed with
the approving voice of some who now atig
matize a similar loan, under aimilar circum
stances, and for the aame object, was not
considered as the germ of a nqw national
debt, neither will our loan be so considered
by the country,
I trust I have vindicated the bill from the
stigma of beiug a paper currency bill, and
from the imputation of being the first step
towards a new national debt. I hope it ia
fully cleared from the odium of both these
imputations. I will now say a few words on
the policy of issuing Treasury notes in time
of peace, or even in time of war, until the or
dinary resources of loans and taxes had been
tried and exhausted. 1 am no friend to the
issue of Treasury notes of any kind. As
loans, they are a disguised mode of borrow
ing, and easy to slide into a currency : as a
currency, it is the moat seductive, the most
dangerous, and the most liable to abuse of all
the descriptions of paper money. " The
stamping of paper [by Government) is an ope
ration so much easier than the laying uf taxes,
or of borrowing money, that a Government in
the habit of paper emissions would rarely fail,
in any emergency, to indulgf itself too fur in
the employment of that resource, to avoid, as
much as possible, one less auspicious to present
popularity." So said General Hamilton ; and
Jefferson, Madison, Macon, Raudolph, and
all the fathers of the republican church
concurred with him. These sagacious states
men were shy of this facile aud seductive
resource, " so liable to abuse, and so certain of
being abused." They held it admissible to
recur to it in time of peace, and that it could
only be thought of amidst the exigencies and
perils of war, and that after exhausting the
direct and responsible alternatives of loans and
Jaxes. Bred in the school of these great men,
1 came here at this session to oppose, at all
risks; an issue of Treasury notes I prefer
red a direct loan, and that for many and
cogpnt reasons. There is clear authority to
borrow in the Constitution ; but, to find au
thority to issue these notes, we must enter the
field of constructive powers. To borrow is to
do a responsible act; it is to incur certain
accountability to $ie constituent, and heavy
censure if it cannot be justified ; to issue
these notes is to do an act which few con
sider of, which takes but little hold of the
public mind, which few condemn and?some
encourage, because it increases the quantum
of what is vainly called money. Loans are
limited by the capacity, at least, of one side
to borrow, and of the other to lend; tho
issue of these notes has no limit but the
will of the makers and the supply of lamp
black and rags. The continental bills of the
Revolution, and the assignats of France,
should furnish some instructive lessons on
this head. Direct loans are always volun
tary on the part of the lender; Treasury
note loans may be a forced borrowing from
the Government creditor: as much so aa if
the bayonet was put to his breast; for neces
sity has no law, and the necessitous claimant
must take what is tendered, whether with
or without interest; whether ten or fifty per
cent, below par. I distrust, dislike, and
would fain eschcw, this Treasury note re
source. I prefer the direct loans of 1820-21.
I could only bring myself to acquiesce in
this measure when it was urged that there
was not time to carry a loan through its
forms, nor even then could I consent to it
until every feature of a currency operation
had been eradicated from the face of tho
bill.
I have spoken to the poiuts which induced
me to rise, and might here terminate my re
marks ; but tho committee, of which I am a
member, has been assailed, and being on my
feet, 1 will say a word in its defence. Sena
tors have said that the committee has report
ed nothing for the country?nothing, in fact,
of any value or consequence. With deferenco
to their judgments, I presume to think other
wise, and with the indulgence of the Senate;
will undertake to convince them of their mis
take. First, there is the Merchants' Bond
Bill; it relieves a class of debtors to the
amount of four millions of dollars, and through
them it relioves many others. This bill also
grants additional credits on bonds to become
due for a year hence, and in that, grants fur
ther relief to the same class aud to their nu
merous dealers. Then there is the Deposite
Bank Relief Bill. This gives time to another
class of debtors to refund six millions, and
through them it relieves all their debtors, and
besides, enables them to give temporary as
sistance to tho country generally. Then
comes this Treasury Note Bill; a measure of
relief to the States to the amount of ten mil
lions, and through them a relief to all their
citizens, by supplying the Treasury from our
own resources, and thus staving off the con
tingency on which they became subject to
re-imburse ten, out of the twenty-seven mil
lions of deposite, while still in the very act of
receiving it. The Senate, on the motion of
the Senator from Pennsylvania, who sits over
the way, (Mr. Buchanan,) has since abrogated
this contingency, and substituted the will of
Congress ; but this change, while it admo
nishes us to say, farewell?? long farewell to
the twenty-seven millions ! and even to fear the
approaching departure of the nine millions,
cannot diminish the merit of the committee,
which had first deferred the contingency be
foro tho Senator's motion abrogated it for
ever.
These are instances of direct relief?large
as well as direct?and extending into all the
ramifications of society. It is four millions to
the merchants, six millions to the banks, and
ten millions to the States?in all, twenty mil
lions ; and though nominally, to the merchants,
the banks, and the States, it is in reality to the
whole body of the community?to all the citi
zens to whom merchants, hanks, and States
resort to collect the money which ia to be paid
over to the Federal Treasury. To these three
bills of immediate, direct, large, and positive
relief, the committee have added two others,
less general in tbeir scope, and more indirect
in their action, bnt still well entitled to be
classed among relief measures?one to abo
lish credits at the Custom Houses, after a
given time ; and the other to reliove this city,
and ten miles square, in which Congress has
exclusive jurisdiction, from the evils of an ir
redeemable paper currency, and the pcstilence
of paper ticket change.
Tho divorce bill?the bill to dissolve the
