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THE MADISON IAN.
Tub Madisohiaii is published In-weekly during lU
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Tmb Madisonian will be devoted to the support of
the principles and doctrines of the democratic party, ss
delineated by Mr. Madl-on, and will aim to consummate
that political reform in the theonr and practice of the
national government, which haa been repeatedly indi
cated by the general sufferage, as aasential to the peace
and prosperity of the country, and to the perfection and
perpetuity or Us frse lustitutious. At this Ume a singu
'Jar stale of affairs is presented. The commercial in
terests of the country are overwhelmed with enibarrass
inent; ita monetary concerna are unuaually disordered ;
every ramification of society is inssded by distress, and
the social edifice seems threatened with disorgaiuaalwu;
every ear is filled with predictions of evil and the niur
inurmgs of despondency; the general government is
boldly asssiled by a Urge snd respectsble portion of the
people, ae the dweet eausc of thrnr dilhcult.es ; open
resistance to the laws ia publicly eucouraged, and a
apirit of inaubordination ia foatered, as a necessary
defence to the pretended uaurpationa of the party in
power ; aome, from whom better things were looped, are
making ihe "confusion worse confounded," by a head
long pursuit of extreme notions and indefinite phantoms,
totally incompatible with a wholesome atate of the
country. In the midst of all these difficulties and era
barraasinenta, It ia feared that uiany of the leas firm of
the friends of the aduiiuialrauon and supporters of
democratic priuciplea are wavering in ihcu confidence,
and beginning, without juat cauac. to view with distrust
thoae men to whom they have been long attached, and
whose elevation they have laboured to promote from
houest and patriotic motives. Exulting in the anticipa
tion of diainay and confuaion amongst the supporters of
the administration as the consequence of these things,
the opposition arc consoling themselves with the idea
that Mr. Van Bureu'a friends, aa a uatioual party, are
verging to diaaolution ; and they allow no opportunity to
paaa unimproved to give eclat to their owu doctrines.
They are, indeed, maturing plana for their owu future
government of the country, with aceming confidence of
certain aucceaa. , ,
This confidence is increased by the fact, that visionary
theories, and an unwise adherence to the plan for an
exclusive metallic currency have unfortunately carried
some beyond the actual and true policy of the govern
ment ; and, by impairing public confidence in the credit
system, which ought to be preserved and regulsted, but
not destroyed, have tended to increase the difficulties
under which the country is now labouring. All theso
seein to indicate the necessity of a new organ at the
aeat of govermnent, to be established upon sound prin
ciples, and to represent faithfully, and not to dictate, the
real policy of the admimalration, and the true aentimeuta,
measures, and inlereata, of the great body of its sup
porters. The necessity alao appeara of the adoption of
more conaervative principles than the conduct of those
seems to indicate who aeek to remedy abuses by de
stroying the institutions with which they are fouud con
nected. Indeed some measure of contribution is deemed
essentisl to the enhancement of our owu self-respect at
home, and to the promotion of the honor and credit of
the nation abroad.
To meet these indicslions this undertaking has been
instituted, and it is hoped that it will produce the effect
of inspiring the timid with courage, the deapoudmg with
hope, and the whole country with confidence in the
adiniuiatration of its government, in this view, this
journal will not seek to lesd, or to follow any faction, or
to advocate the viewa of any particular detachment of
men. It will aapire to accord a jiist measure of sup
port to each of the co-ordinate brancbea of the govern
ment, in the lawful exercise of their constitutional
prerogatives. It will address itself to the understandings
of men, rather than appeal to any unworthy prejudices
or evil passions. It will rely invariably upon the prin
ciple, that the atrength and security of American insti
tutions depend upon the intelligence and virtue of the
Tub Madisonian will not, in any event, be made the
instrument of arraying the north and the south, the east
and the west, in hostile attitudes towards each other,
upon any eubjeel of either general or local intorcat. It
will reflect only that spirit aud thoae principles of mutual
concession, compromise, and reciprocal good-will, which
so eminently characterized the inception, formation, and
Bubsequent sdoption, by the several States, of the con
stitution of the United States. Moreover, in the same
hallowed spirit that has, at all perioda siuce the adoption
of that sacred inatruinent, characterixed its dbpemcb
by thb pboplk, our press will hssten to its support at
every emergency that shall ariae, from wliatever quarter,
and under whatever guise of philanthropy, policy, or
principle, the antagonist power may appear.
If, in this responsible undertaking, it shall be our
Rood fortune to succeed to any degree in promoting the
?rinonv and prosperity of the country, or in conciliating
jealousies, and allaying the asperities of party warfare,
by demeaning ourself amicably towards all; by indulg
ing personal animosities towards none ; by conducting
ourself in the belief that it is perfectly practicable to
differ with others in matters of principle and of expe
diency, without a mixture of personsl unkindness or loss
of reciprocal respect; snd by " asking nothing that is
not clearly right, and submitting to nothing that is
wrong," then, and not otherwise, will the full meaaure
of its intention be accomplished, and our nmiiary rule
for its guidance be sufficiently observed and sslisfied.
This enleqtrize has not been undertaken without the
approbation, advisement, and pledged support of inany
of the lesding and soundest minds in the rsnks of the
dcmocractic republican party, in the extreme north and
in the extreme south, in the east and in the west. An
association of both political experience and talent of the
higheat order will render it competent to carrv forward
the principles by which it will be guided, snd make it
useful as a political organ, and interesting as a journal
of newa. Arrangements slso have been made to fix the
establishment upon a subsUntial 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
prove itself entitled to receive.
Washington Citv, D. C. July, 1837
THE New York and Doston Illinois Land Company
will offer at public auction at their office in the town
of Quincy, Adams County, Illinois, on Monday the 27th
day of November next, 100,000 acres of their Lands silu
ated in the Military Tract in said State.
Lists of thr lauds may he had at the office of said Com
pany in Quincy and at i t W?ll 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. 4 B. III. L Co.
Aug. 25, 1837.
PRINTING PAPER, with or without sizing, of all
qualities, made at the Saugerties Mill, Ulster County,
New York. Orders will lie promptly attended to if nd
dressed tothe Ajtent, WILLIAM BRADFORD, Nu. lo
Spruce street, New York.
HENRY BARCLAY, Proprietor,
(-1I.OVES, SUSPENDERS, STOCKS. WOOLLEN
J SHIRTS, AND DRAWERS. ? We have to-day
'M) dox. Suspenders, liest kind.
50 do. superior Gloves.
50 do Stocks, tiest make.
80 pieces Silk Pocket Handkerchief*.
50 doien (jentlemen'a Ribbed Woollen Drawers.
50 do. do. do. do. Slurta.
6 do. Raw Silk Shirts.
50 pieces Irish Linens.
200 do. Sea Island Cotton Shirtings.
fcspt 8. 3Uw2?8
THE MADISON IAN.
VOL.1. WASHINGTON CITY, THURSDAY, SEPTEMBER 28, 1837 NO. 16.
M OVES! STOVES! iM) (JKATES.
aL VK just received frutu the North a very Urge sup
? of Stove*, Orate*, and double Block Tin Ware?
Hixxtns, Dressing Boxes, Ac. I hare Stores of
almost all kinds, suitable for wtd or csai. In the first
place, 1 have the Rotary Cooking Stoves of all the differ
ent sises, No. 0, 1,2, and 3. Ten Plate Stoves of all the
different aiaes, loth for cooking and plain. Franklin
Stoves of all the diflerenl siaaa. 1 have some very sptai
did Parlor Stoves for burning wood or loam. Coal Stoves
of all sites. Dr. Spoor's Coal Stoves, fancy and plain
tops, from No. 1 to ft. Coal Stovea of other kinds. Dr.
Spoor's Coal Stoves and tha Globe Stoves are most suit
able for Public offices, large halls, churches, stores, ai.d
steamboats, or any apartment where you with ? strong
heui. la lait 1 have Stoves that will beat any place, either
with wood or coal. 1 have the lateal fashion Mantis
Orates, both low and high fronts, very cheap?and if 1
have not a pattern of Oral* on hand that will suit, 1 can
make it at the shortest uoliee, to suit any fancy. I tun
fully prepared to do any kind of Tin, Copper, wSeet Iron,
Stove, Orate, Lead or Zinc work, at the shortest notice.
Any person or persons buying Stoves or Orates from the
subscriber, or any other thiug in his lin?, will have them
sent home in good order, free of any extra charge. Stoves
will lie put up ready for use, free of any extra charge.
All the ul?ove articles will be sold very low, and all or
ders thankfully received and punctually attended to, with
despatch, as 1 shall have a number of Aral rate workmen.
Vi\e doors East of D. Clagett's Dry Oooil Store, next
door to E. Dyer's Auction Store, Penn. Av. ''
Sept. 9. (Intel, and Globe.) 3t8
BANK OF WASHINGTON.
Wth Aioust, 1837.
AT the regular meeting of the Board this day, present,
the President and nine of the Directors, it was una
NiwM 1st. That on snd after the first of September
next the notes of this Bank be redeemed la specie.
2d. That all deposit** remaining undrawu, (the sains
having nearly all been received since the suspension of
specie payments,) and all future deposites, other than
aurti a* may be made in specie, and lie at the time so en
tered, be payable in note* current in the District of Co
3d. That all collections for Banks and individuals, and
all curtails, be received in notea current as above ; and
that all sums so collected be paid in like funds.
W. GUNTON, President.
JAS. ADAMS, Cashier. OteodA
(CONGRESSIONAL DOCUMENTS, JOURNALS,
J LAWS, AND DEBATES?GEORGE TEM
PLEMAN has for sale at his Book and Stationary Store,
opposite the General Post Office, all the Journals of Con
S-ess, from 1774 to 1837. Gales and Seaton's American
tate Papers in 21 folio vols., from the first to the 24th
Congress inclusive, or from 1780 to 1823.
The Regular Senea of Documents in royal 6 vo. vol
umes, as published eaeh Session, from the 18th to the
24th Congress incluaive, or from 1823 to 1837. The Laws
of Congress, in 8 vols, containing the Laws from the first
to the 22d Congress inclusive, or from 1780 to 4th of
Mnrch, 1833; the sei ies is made complete to the 4th of
March, 1837, by the pamphlet Laws of the 23d and 24th
Congress. This is the edition used by Congress and the
Story's Laws of the United States, in 4 rols. from 1780
to 4th of March, 1837. The 4th vol. contains an index to
the four volumes.
. The pamphlet or 8ession Laws of the United States
from the 5th to the 24th Conrgess inclusive, or from 1707
to 1837. Any separate pamphlets can be furnished.
Gsles and Seaton's Register of Debates in Congress.
All Documents on Foreign Relalioua; Finance, Com
rnercc, and Navigation ; Internal Improvement; Military
and Naval Affairs ; Indian Affairs ; Public Lands, and on
Claims of every description can be furnished separately
Also, for sale as above, a large collection of files of
Newspapers published in WaHhington, and some of the
princi|ial cities in the United States.
Aug. 8X . , tf3
MRS. TAYLOR can accommodate Members of Con
gress, or other gentlemen, either with or without
families, at her house, pleasantly situated, near the north
east corner of 10th anJ E street; being froui thence an
agreeable walk to the Capital or to the public Depart
Aug. 30. tf5
HOUSE FURNISHING GOODS.?We have for
50 pieces ingrain carpeting, which we will sell low.
50 do Brussels.
02 do 5-4, 6-4, 10-4, and 12-4 Linen Sheeting*.
100 do 7-4, B-4 Hitiualy
8-4, 10-4 and 20-4 fine Table Cloths.
Napkins to match.
1 bale Russia Diaper.
1 bale wide Crash.
Also, 50 Marseilles Quilts.
BRADLEY & CATLETT.
WE have for sale, which we will have made up in the
20 pieces super, black Cloths.
100 do ribbed and plain Cassiuieres.
20 do plain and figured velvet Vcstings.
50 do colored and black Silk Vestings.
BRADLEY dt CATLETT.
WE HAVE FOR SALE?
100 pieces Black Silks, superior make
50 do Figured Blue Black do
150 do Colored Figured Silks
100 do Plain do
The above will be sold low.
BRADLEY dt CATLETT.
SAMUEL HE1NECKE informs his friends and the
public, that he has taken a room four doors north of
Doctor Gunton's apothecary store, on ninth street, where
he will carry on his business. He feels confident, from
hm long experience in cutting all kinds of garments, that
general satisfaction w ill be given to suoh as may favor
hiin with llieir custom. sep 23 3taw3w
PHRENOLOGY.?The subscriber has taken an office
for a few days, in Elliot's buildings, near the Native
American Hotel, where he will make examinations and
give instructions in the Science of Phrenology.
All who may wish to put this science, which teaches
that the character and talents of persons are indicated by
the form and sixe of the hond, to the searching test of
practical experiment, or to obtain correct ami minute de
scriptions of their own characters, are invited to call.
Each examination will be accompanied by an extensive
work upon the subject, presenting a full view of Phreno
logy and also preserving the description given.
D7lndividusls will be waited upon at his office, and
select parties and families at their dwellings.
15 ALONZO BARTLETT.
PENSION ET ECOLE FRANCAISE ET AN
GLAISE.?Madame DORMAN will re-open her
boarding and Day School on the first Monday in Septem
ber, on 10th street, four doors from the Avenue.
CoNrKBKNCEs and CoN VKISATIONS in Frknch.
Madame Dorman will devote three hours in the even
ing to Conferences nnd Conversation* in French, for the
improvement of Iodic* of mature year*, and of young
ladies who study or have studied this language, as it is ths
liest way to remove and prevent the objections that those
who have learned this language by study are seldom able
to converse iL At the North, Conferences and Conversa
tion rooms, such as Madame Dorman proposes, are always
crowded ; this manner of instruction being both pleasing
Ladies wishing to attend them will please apply to
Sept. 12. 2aw3wll
THE SUBSCRIBER wishes to procure a Lot of
ground of about 20 or 25 acres, intended for Wheat
or Rye, this season, as near the Capitol as possible; for
the purpose of exhibiting during the present session of
Congress, his Patent Revolving Harrow, Sic. As a proof
of the superiority of this implement over the common drag
harrow for pulverizing the soil, and the destruction of
weeds, he is w tiling to take one half of the field with three
good horses, to lie worked abrrsst by one man, against six
common drag harrows, eaeh two horse* and one inan ; in
doing which, he pledge* himself, that the earth shall be
put itras good, if not better order in the same space of
time, which may lie required with the six common harrows.
After the work i* done, disinterested judges will he se
lected onthe spot to examine the same with a four pionged
fork or rake; to enable them to decide correctly which of
the implement* is beat calculated for preparing the ami
for the reception of the grain. And a* a further proof of
th<' value and superiority of his Kotsry Harrow-, the grain
will tie turned in by it on one-half of the field, and the
other half in the usual war by the drag harrow. When the
grain is reaped, threshed snd measured, he does not hesi
tate to insnre an increase in the crop of 10 per cent., over
that halt which may be cultivated by the common harrow.
Where farmers are in the habit of ploughing io their grain,
he will take 5 peeks to the acre, and produce 10 per cent,
more by Rotary Harrow, than 6 pecks turned in with the
JAMES D WOODSIDE,
? Near the West Market.
Sept 16 WdMmffM, D. C.
We invite the attention of oar reader* to an
able article froiu the Albany Argua, signed
" Marshall." In the following aentiinenta of
the Argua we sincerely concur :
Our correspondent, ?? Marshall," trials th? question
of an exclusive metallic medium for the payment of
Government dues, with ability and in good temper. H
is ono of those subjects which, ae the menage remarks,
deserve a full and free diecueeion, and cannot fail to be
benefitted by a dispassionate comparison of opinion*.
The note* of specie paying bank* may be received,
under pro]Mir restrictions, ana at short settlements of
balancee, in payment of Government duee It would
contribute to the public convenience, and to the facility
of transacting the business of the customhouse, whilst it
would serve a* an incentive on the part of the bsufcs to
an early resumption of specie payments. No one, bow
aver, imagines that the rocoipt into the Treasury of irre
deemable bank piper could be sanctioned liar s moment.
from tkt AUhxny Argua.
It i* one of the brightest attributes of a free people
that they are permitted to examine, and a* reason and
judgment shall decide, approve or condemn the opinions
of their rulers, and the acts of government. Nay, they
are not only permitted, but it is their duty to do *o_;
for while on the one hand it is a ssfegusrd upon tlieir
liberties and s cheek upon the encroscnments of power,
on the other it serves to inculcate that apirit of inde
pendence, ui thought and in act km, so essential to the
perpetust>on of our free institutions, and which forms
the distinguishing characteristic between s free sud an
enslaved people. Viewing in this light .the duties and
privilege* of an American citizen, it wdl not, I trust,
be deemed presumptuous limine, or disrespectful towards
the highest functionary in the land, to examine the
opinions he has put forth in his late message to Con
gress, and the reasons by which those opinions are en
forced. I yield to no one in respect for the talents, or
admiration of the wisdom and integrity of Martm Van
Buren. And wlule 1 cheerfully accord to his messsge
all that its warmest friends can desire, whether on the
score of the spirit in which it is conceived, and its man
ner, or its manifest desire to protect and preserve the
beat interest* of the people, I am constrained to *sy
that some poahioas are sssumed and some opinions put
forth, which, however eloquently or cogeully they may
be argued and enforced, fail ol carrying conviction to
the mind. I allude to that portion of the message in
which he endeavors to show the practicability of collect
ing and disbursing the revenue in gold and silver ex
clusively. Tbi* proposition has hitherto been consider
ed wholly Utopian, and if put forward at the present
time by one interior in political sagacity to Martin Van
tiuren, would meet but little attention, however well it
might deaerve public consideration. That it is wholly
impracticable at this time, is sincerely believed ;?
and that its tendency, i/ carried into execution, would
be to paralyze and prostrate the energies of the country
is deemed susceptible of demonstration.
The arguments he adduces in favor of this proposi
tion sre these :?It would produce s wider circulation
of gold and ailver ; it would increase the safety of bank
paper and improve the geueral currency, aud that it is
not the interest of the batiks that the government should
receive their psper; that if it was refused they would
be conducted with more caution and upon ssfer princi
ples, and aa the government would create a demand for
specie, it would, to a great extent, prevent it from be
ing exported, and by keeping it in circulation, maintain
a broader and safer basis for the paper currency.
It will not be maintained that the government should
receive the paper of bsnlu in payment of the revenue,
which do not redeem their notes in specie on demand
and are in good credit; but it is contended tliat by re
fusing to accept sught but gold and ailver in payment of
government dues, you make an unjuat discrimination,
and thereby cast. a stigma upon those banks issuing
such paper, and in effect pronounce them unworthy of
confidence. You thus create two currencies, one of
enhanced value to be devoted excluaivcly for the uac of
the government; the other of depreciated value, depre
ciated by this set of discrimination, for the excluaive
uae of the people. That every measure, the tendency
of which i* to create such a distinction should be enre
fully avoided, as of ruinous consequences to every in
terest of the couutry, need not bo demonstrated; thai
BUt.li will UU lllU Cflbct of tlii* mooanrn ?"'? ararro.
ly be doubted. Create a demand for gold and sil
ver and nothing else will bo received. Tho timid
and the avaricious will bosrd it, the first from fears ex
cited by the acts of government; by the latter that he
inay obtain tho premium which its enhanced vslue will
authorize hiin to demand. Thus, instead of giving a
wider circulation to the coin of the country, it will have
s contrary effect. The government will receive nothing
but gold and silver; this is retained in its vaults until
its wants require it?so Ut this is an abstraction of so
much from the circulating medium of the country.?
There is no force in the argument, that as the govern
ment will receive nothing nut gold and silver, so no
thing will be paid out by it but gold and silver, and thus
it will be kept in circulation. The psyments of the
government are paid to its agents at stated periods ;
these agents are supposed to be actuated by the same
motives and principles which govern other men ; if gold
aud silver is in demand, as it undoubtedly will be, will
they not retain it in their possession until the debtors
of government arc constrained to purchaso it of them at
their own price! It will benefit the government
agents alone, and this at the expense of the public at
That this measure will increase the safety of bank ps
per and improve the general currency csnnot be admit
ted ; for it must be evident to every one that no person
will willingly receive a bank note, proscribed by the
government, and in consequence, of depreciated value,
when he can demand and receive the specie. If he is
a debtor of government he will demand specie, that he
inay be enabled to meet its demands upon bim ; if not
a debtor of government he will demand it that he may
obtain the premium which those who sre its debtors wiil
be compelled to |>ay , in either case it is withdrawn from
circulation. If then nothing wdl he received but gokl
and silver, and the banka be compelled to redeem their
notes aa soon as issued, they will be compelled at once
to circumscribe their issues by the amount of specie they
may have in their vaulta, or have recourse to snother
suspension of specie paymenla. If the firat, the great
design of banks?supplying the deficiency of specie, will
be defeated ; and if the Istter, the government, the peo
ple and the banka will be placed in the same predica
ment they are at present. Hence it will follow, instead
of improving tho general currency, this project will have
a contrary tendency, it will enhance one description, and
depreciate or entirely destroy the other.
But it is said that it is not the interest of the banks
that the government should receivo their paper. And
why not? Because if refused, banks would be con
ducted with more caution, and upon sounder principles.
If a refusal of bank notes by the government will csuse
the banks issuing them to be conducted with more cau
tion and upon sounder principles, it must follow that re
fusals by individuals must have the like clfect. Or iu
other words, the more circumscribed the credit of the
banks, the better for their interest. This is at war with
a principle which has hitherto been considered as at the
foundation of all banks?that unlimited coufideuce was
necessary to their existence. Adopt this measure and
you declare to the world that they are unworthy of con
fidence ; this, it is ssid, will compel the banks to con
duct their business with more caution and upon safer
firinciplea. Why ! It is true that when one man has
oat the confidence of another, he is sedulous in bis en
deavors to redeem his lost reputation, and that he may
be again taken into favor. But this principle of human
action cannot in this instance influence the conduct of
the ttanks; the act of the government discards thorn,
and no expiatory sacrifice, however great, or regenera
tion of character, however thorough, can reinstate them
in its favor. But it is believed that the reverse would
bo the fact. The banks sre thoroughly convinced of the
importance of possessing the confident* of government;
they know that iho discovery of the least misinauaje
meiit on tbair part would lie the signal for their proscrip
tion ; consequently every motive which could constrain
them to follow a prudent course will be constantly ope
rating to keep them within due limits. I,et the govern
ment refu*e to receive their paper and this constraint
will be removed , they are beyond the control of the
general government and when they arc debarred ita
smile*, they will have no cause to dread its frowns.
It is said again that as the government would create
a demand for specie, it would to a great extent prevent
it from being exported, and by keeping it in circulation,
maintain a broader and aafer basis for the psper curren
cy. No person is more thoroughly convinced of the
necessity of s broad specie baais for our currency than
myself, but it must be evident to every on* that there is
a certain proportion beyond which we hsv* no right to
require. A da* iropoftion of the p^daoametala is na
M' Co, iruujcbM of tha atfairs of every com
merciai, manufacturing and agricultural ?*Wj? every
quarter of tbe ghba; and any attempt to ?batract from
them and in?ini?it more than our proportion!. alike un
juat .Ml impolitic The truth ?, the precioua metals
Should ba left fr*a U foUow tha balance of trade m
whoaeaoevw favsr that may ba, and MJf attampi to
" hedge tu the cuekoo" will not ?dy bo uM??li.jg. but
will be itlendcd with injurious eflecU. Wm gold iiftd
silver Itke paper currency, capable of being increaaed at
pieaaure, a conunwad demand would ba mat hy aeon
yoiK-d iuuuIv ; bet tkwrc is i Imba* .
precioua metal., and in a correapondmg nuo to thaw
scarcity and their enhanced value, in co.iMxjueuce of
the depreciation of the p*i*r currency, will be their de
ma ml Thi. demand will not ba *e moan. of keeping
thein in cireulaaoo, but on the contrary, ?? be lore shown,
will lend to tb?ir withdrawal. ....
If these view. are correct, it followa that the enda da
aired cannot b? atuined by the adoption of ihe proposed
measure. . ...
Having tha. gooe over tba moat prominent of the ar
gument. in favor of the measure, and eudeavored to
ahow that tkey are alike untenable, I will now adduce a
few reason* against ita adoption.
That the convenience of the public la to be regarded
in a vary nwasure of government, ia a proposition which
will not I* denied. The meaaaga admila it. 1 liat it
wdl ba mara convenient for tha government debtors to
pay their duaa in tha note, of specie paying hanks in
good crsdit, than gold and sHvar, ia equally iraa rhn
difficult/ experienced in obtaining the email amount of
apecie, now required for the payment af po*age ahow.
tha trath of this poaitien iu the cleareat poasible light.
The meaaaga itUs us that tbeva ia between aaventy and
eighty milliona of epecie m tha country at Una iwmi
lbi? ia not all in the possesion of the banks ; a large
portion of It la left to circulate among us If then, dif
ficulty is experienced now in oblauiing sufficient apecie
for postage, will not the difficulty be increased many
bundled fold when all the duca of government are to be
paid in that currency 1 America baa not seen the tuna,
nut in bar m&t proaperoua daya, when the government
debtor could meat his angagementa with apecie aa con
veniently aa with the notes of specie paying banks in
?tv,U not the government be aa eecure, and will it not
be mare convenient, to receive the notea of epecie pay
ing banka in good credit! I will waive the advantagea
of receiving and diaburaing notea of a large amount over
gold or ailver, and examine the quoatwo ui ita more im
Lrtant bearmga. It will be observed that if the govern
ment receive nothma but apecie, it will be compelled to
disburse specie onfy. A. a greater portion of
revenue will oe collected at the city of New York than
at any other place, it will follow that tha demand m tha
city will cauae a continual dram upon the country for
apecie aa at preacnt. Let ua auppoae then, that the go
vernment ia to pay the aum of ftve ten, or? twenty ibou
sand dollara in a diatant part of the Union, (a daily trans
action previous to tha auapension of specie payments,)
U?s apecie lo be conveyed to the point desired!
Not through the agency of the banks moat certainly,
even could they be prevailed uporito undertake^a taak so
onerous, for all connexion with them is discarded. The
only alternative then ia. that it mu.t be conveved the e
by the government. Thi. ha. hitherto been done w.Ui
entire Mtisfaclion to all partiea by the baiika free ofex
penae to the government. But thia difficulty ia propoac
to be obviated, in a meaaure. by the issuing of
draft., which will be received in payment <>1 government
duea Thia .yatem will work to admiration if, ?t the
very nick of time when thia payment i. to be made,
there ahould be at the point to which the specie ia to be
conveyed, a government debtor who had apecie on hand
to the amount of the dtaft. In such cases ^ woutd go
well; but it need not be Mid that the possibility of auch
a happy conspiration of circumatancea ?
bleinatical Suppose tliat tho Secretary of the I reaau
S Sd iaauoauch a draft, a.h1 from many*,f the ten
thousand causes which may arise, it ahould be diahonor
ed, laths government creditor to he U'fled wKh, sod
ihumt ho wait until the government shall be enabled to
JS,! Th. truth th? tr?.ury
draft avitem, ?? . principle ot extended .ctioti, will ..
often farl as perform its functiona with auccess It will
be injurious, if not ruinous to the creditor, ar^ernba -
raasma lo tbe operation, of the treaaury. lheea *??
would in a great meaaure be corrected, if not entirely
avoided, by calling in the aid of the banka. Aa the fiscal
ssi %&&&%*& c..?S rsxzsn:
I ain euly endeavoriug to show that it i. for the "'teres
of the government to call in the aid ol the banka u|K>
occasions like thoac above alluded to A ref.i.al o ac
cept oc |>ay out aught but gold or ailver, will forbid the
?rovertmeut to participate iu theae benefita.
Bu. a consideration of paramount importance to any
hithero alluded to, ia that tho interest of the people aa
eonmcted with the banks forbids its adoption. 1 have
before shown the effect the operation of this system wtll
have ipon the banks : it will depreciate their paper, draw
their s*ccie from their vaults, or to aave themselvesand
uuard afainat ruin, they will be compelled to cnrtail
Ei au? to the amount of apecie they can command,
or re sat to the only alternative-s suspension of specie
?vm?tY No bank, no matter how well conducted,
unless is resources are illimitable, could hope to with
atantTtie operation of the system. The
t*nk. to every interest of the country is ?o generally
sdmitttd that I .hall preacnt no argument in their favor.
?'ScS.ic with them entirely ta an idea wh^^ama
to hax no advocate," except with a few radical apinta,
who wiuld ride into wealth and powerj>n the ruina of
the dcireat intere.t. of their country. Thi. proportion
has U?n hailed by them with triumph ; it is emphatical
W tlSI meaaure ; in iu adoption they we the proapec
fve nitration of every banking institution Hi the land,
ch.ifrtiev be ctatified! Shall an ? untried expenment
b]!.dS viewed in it. most favorable light of doubt
ful ptiediency and problematic success! Ihe country
of the government and the people should be put lorwaru
to restore that confidcnce which has been destroyed, an
to reanimate those energies which have been P?r'yfr''
fcominuatice of the eystem hitherto ^ ^
> ,K? lulls of soecic paying banks in good repute,
ui'pavu'cnt of the revonuo, will tend more than any
Other plan to the furtherance of this great and sbaorbinu
/.Kiori It will add a new motive to the many which
eonsnire to render it the object of the bank, to resume
apecie payment, at the first practical moment, wh.le a.,
^osite courae will have an oppoaito tendency. Let",
nauae then and reflect, before we give our aanction
measure which may be attended with U.ungev .1.^
Albany, Sept 15, 1837.
The following sensible resolutions, we extract from
the published proceedings of a republican meeting at
Ithica, N. Y.
Resolved, That while we have confidence in the
Banking system of this .tate, as being Mfe and judiciou.
in it. c.sential feature., and believe that a deatruction
of the ayatem, or impairing public confidence in it. wfety
and .lability, would be an unrcparable injury to the
people of the .tate, who havu hitherto .uatained a high
character of commercial enlerprixe and prosperity, we
are ready to yield oui support to any measure of correc
tion or reform which ia ncccaaary to render it all llut
wisdom or prudence can de.ire.
Resolved, That a period of common calamity i. no
time for recrimination or urging or experimenting theo
retical questions; but that mutual forbearance and
united exertion., and an industriou. and prudent appli
cation of their resource*, on the part of the people, and
a firm .traight forward adherence lo republican jiolicv
on the part of the general and state governments, will
soon extricate the conntry from its preaeut commercial
and pecuniary 'embarrassments.
Resolved, That we are opposed to all radical doc
trines and measures, whether they bear the aspect of
modern whiggery or loco-focoism?of aristocracy or
moborracy?that truth, wisdom, and safety, are to bo
found between the extremes?bounded by the ancient
landmarks of tho democratic party, and sustaining the
constitution, the prosperity, and legal institution, of the
Resolved, That acknowledging and cherishing an
equality of political right, and privilege., we are op
posed to every attempt to create jcilouacs and distinc
tiona between ihe various classca of community, aa anti
republican in principle and mischiovoua in effect : That
farmcra, mauufactureta, mechanics, laborers and mer- !
ciianta, are all necessary to the welfare and improve
ment of civilized society; that they are mutually de-'
pendent upon each other for aucceas in their various
callings, and what is for tha actual welfare of one branch ,
of these pursuits, promotes tba prosperity of all.
Resolved, TW it ia no part ?f tbe republican cre? d
U> proscribe any Man oa account of bia trade, proles
?ion, or calling, or of Wa wealth or In a poverty j anil that
we ask and expert j?o further qualification lu a candi
date for an elective office, thaji th?t bo ia " bone.!, ca
pable, and faithful to tbe con.ihntion"?a member of,
and regularly nominated by the republican party.
Tbe " Republican Elector*" of the town of Laoeing,
N.*Y., adopted tbe following reeoiuiion at a recent
Reaolved, That we approve of the present safety
fund system of banking, until a better can be devised
that we are in favor of correcting any eviia that m*y
eiiftt in oar present ayatem; and that we will unite
with our fellow citizens in any measure which may be
deeuied noceaeary for tncwasiug our afiecie baaie for a
aafe paper circulation ; but the idea of having au "ax
cluaive metallic currency," ia, in the opinion of thia
meeting, perfectly visionary and impracticable. It ia
also tbe opinion of thia meeting that a general banking
law would be unconstitutional, and independent of tbe
constitutional objection, would have a direct tendency
to increase the evil so loudly complained of, to wit, tbe
"exceasive issue* of paper money .*
From lbs proceedings at Eulield, Naw York.
Resolved, That we are in favor of a well regulated
ayatem of credit, becauae it givea the poor equal privi
legee with the rich ; but would recommend a reform of
our present banking institutions, ao aa to give confidence
to tne holders of their billa. We are satisfied our coun
try baa prospered under the influence of our present
institutions, and that our exiating embarrsaemenia are
not owing to the mil-administration of either the gene
ral or aisle governments ; but was caused by over
trading, a peculation, ?a species of faniticiam in
winch the whole community has participated, and over
which the government had no control.
From the Central Committee of Kingaton, N. Y.
" Reaolved, That we believe aouud, aafe State Banks,
confined in their operationa to the legitimate pitrpoaes
for which they were created, useful auxiliaries to the
agricultural, mechanical, commercial, and other inte
rests of tks country."
From the Westchester Republican.
Tub Mbssaok.?In looking over this document, can
dor compels us to say it aavors too much of the I?oco
Foco doctrine for our taste ; but, however, we may
differ in some of the poaitiona assumed, it ia evidently
tbe production of a strong mind, an acute and pene
trating understanding, and dreaaed in a smooth, unos
tentatious garb, seldom if ever before witnessed on such
occasions. It is moreover, a bold, frank, and undis
Ced expoaition of the views and aentiments of its au
, and casta away at once the charge of non-commit
tal. The general tenor of ita conclusions are drawn
from tho book of life, are pretty faithful delineations.
With respect to tbe public revenue we cannot per
ceive that that part of the Message ia directed by aound
policy or prudent economy. That individual, who re
ceives the public money and locka it up from circulation,
would not be a uaeful member of aociety?the aame
rule would apply to our public functionariea. Money
waa intended for circulation, and if the citizens can be
benefitted by that operation without loss to the state,
they should be gratified ; and be who proposes the beat
plan to aectire that object, ia a public bencfactor. Thia
can never be done by leaving the money in the hands of
the receivers, nor have we much better opinion of its
convenience or ultimate safety to the government.
Credit ia as good as money any day. Destroy that,
and you rob the honest poor man of his capital.
The Geneva Gazette says .?" The idea that to dia
sent from any measure or suggest ion which the Presi
dent may recommend, ia to ' abandon,' or ' oppose,' ia
erroneoua in tbe extreme, and not conaonant with our
views of republican doctrinea."
From the Bangor Whig.
INTERESTING FROM THE BORDER.
We learn from a gentleman direct from the seat of
difficulty, and who bore a letter for Major General
Hodadon, that the Lieut. Governor of the Provincea,
had, after reaching home with Greely, ordered a force
of three hundred troops on to tbe line, for its defence,
and that ?n ?-*yr fpr more troonshsd b??n H??n*irHH
to Halifax. >Y e learn further that when newa of the
arrest of Greely reached Houlion, a number of Ameri
can troops were despatched for lua protoctiou, but ar
rived too late. Ordera bavin? now been issued for the
arrest of the Commissioners who arc to lay out the road
from the Aroostie to Madawaska, the Governor of the
Provincoa anticipates a brush with the citizen soldiery
of Maine, and ia preparing for it. Well, one thing is
certain, it will not do for the authorities of this State to
quietly permit her citizens to be taken and imprisoned
by a foreign power, without cause. The British au
thorities have laid out a road user the disputed territory
without molestation ! Shall not Americans, who own
the soil, have the same privilege !
The above rumors arc given on what may be consi
dered good authority, and although we might wish them
unfounded, we cannot permit ourselves to doubt their
From the Grand Gulf Advertiser.
MISSISSIPPI BANK ARRANGEMENT.
The much persecuted Brandon Bank has
taken the first step to redeem her own credit
and that of the State. Tho directors have
resolved to advance money to our planters to
the full amount of the present crop, together
with half the amount of the succeeding one,
at an interest of seveu per cent.?cotton
pledged by the planters to be delivered at
Grand Gulf or Vicksburg, as the planters
may find most convenient. From these two
points, the banks will ship their cotton to
Europe, whero it will be sold for gold and
silver, and the money brought back for the
use of the State.
Planters cannot but foresee the great con
venience arising from this arrangement. They
not only save the expense of transportation
to New Orleans, but also the commissions
and taxes of every description incurred by
selling their cotton at that city.
The expenses amount in gross to about $4
per bale?the crop of Mississippi is about
350,000 bales?the expenses, therefore, of
the transmission and sale of our annual crop
at New Orleans, amounts to one million four
hundred thousand dollars?leaving out of the
question the 20 and 25 per cent, commissions.
Let every bank in the state of Mississippi
adopt the policy of the Brandon bank, and its
five millions will be retained at home, to build
up our commercial towns, and pay the annual
expenses of the planters.
But the story is not half told. This policy
will be the inevitable means of effecting a
resumption of specio payments by our banks.
Cotton will not only purchase goods, but will
command gold, and if the banks have cotton
they can redeem every dollar of their paper
ia the northern cities without a picayune of
specie. Thus otir banks will be furnished
with sixteen millions of dollars in specie, by
the annual product of our soil. Wno is so
blind as not to see that it will immediately
raise the credit of Mississippi bank paper, at
least above any other State in the Union?
Biddlc's bank in its palmiest days not ex
By such a policy both the hanks and the
planter have nothing to risk, but every thing
to gain. The present non-specie paying in
terdict will be immediately removed?our
forty-five millions of State Bank paper will
come into circulation, and Mississippi, abused,
scoffed at, and trampled under foot as dhe
has been, will arise like -a Phumix from the
ashes of its ancestors, redeemed, "regenerat- :
ed and disenthralled"?not as was the slave
on touching the shore of England, to undergo
a more terrible bondage, but to stand for
ever upon a commercial and financial baaia,
as imperishable as a soil that grows richer by
production, and which nothing but an omni
potent power can destroy.
Important Commercial Document.?
Extract of a letter from Robinson, McCall &
Tampico, 29th July, 1837.?"The Con
ducts from the interior has arrived, bringing
the sum of one million seven hundred thou
sand dollars, which is highly welcome to all
interested ; of this sum 9500,000 will go to
New Orleans, about $100,000 per Brilliant,
for New York, and ^ large part of the ba
lance will go by the British packets and
British men of war, for British government
accounts, for purchases made by the British
Commissary, lor his bills on the Lord's Com.
of H. M. Treasury.
" I hand yon herewith a statement of the
trade of Tampico for the year 1836. Few
are aware of the importance of the trade of
this place, and particularly its trade with the
United States. You will see by this state
ment, that independent of the twelve British
packets that arrive and sail monthly, that the
whole number of vessels arriving, including
Mexicans, in 183G, was 118, amounting to
10,575 tons, the imports in which were here
valued at two millions six thousand and three
hundred dollars.?Of these 118 vessels, 47
were Mexicans, 3109 tons, and imports valued
at 225,400 dollars ; whilst the imports in 56
American vessels, 5565 tons, were valued at
one million two hundred and three thousand
and four hundred dollars, being more than one
half of the whole import trade, including
From the Sarth Carolina Star and Qa title
The bank of the State of North Carolina
has agreed to unite in the proposed Bank
Convention, with the view of fixing upon a
day for the resumption of specie paymqpts.
The president and directors of this bank, we
understand, regret that an earlier day was not
fixed upon fur the meeting of the Convention.
They are prepared at any moment to resume,
when the banks generally shall enter upon
the measure. We do not believe there is a
bank in the Union in a sounder condition. It
is a fact highly creditable to the directory of
this institution, that of the 86 deposite banks,
according to the report of the Secretary of
the Treasury, only two have more specie in
their vaults, and no^one appears to be so well
prepared to meet its liabilities.
Specie-Paying Banks.?The following
list of banks that were paying specie at the
last advices, has been compiled by a friend
from the recent statement made in various
newspapers. It holds out great encourage
ment to others to go on and do likewise, now
the panic is so much over.
People's Bank, at Bangor, Maine ; Waldo
Bank, at Belfast, do.; Belfast Bank, do. do.;
Mequinticook Bank, at Camden, do.; Lime
Hock Bank, at Thomaston, do.; Connecticut
River Bank, at Roxbury, Massachusetts:
Yarmouth Bank, at Barnstable, do.; City
Bank of New Haven, Conn.; Brooklyn Bank,
at Brooklyn, New York; Bank of Rome,
at Rome, do.; Patterson Bank, at Patterson,
New Jersey ; Franklin Bank, at Washington,
Penn.; Northwestern Bank of Virginia, at
Wheeling, Va.; Insurance Bank, at Colum
bus, Ga.; Bank of Columbus, do. do.; Com
mercial Bank of Macon, do.; Central Bank,
at Milledgevillc, do.; Citizen's Bank, at New
Orleans, La.; Consolidated Association Bank,
do. do.; Ijouisville Savings Institution, at
Louisville, Ky.; Shawncetown .Bank, at
Shawneetown, Illinois; Dayton Bank, at
Dayton, Ohio; D?nk ?f Marietta,Marietta,
do.; Bank of Xenia, at Xenia, do.; Ohio
Trust Company, at Cincinnati, da; Pontiac
Bank, at Pontiac, Michigan.?G\obt.
To which may be added, the TraJesmen's
Bank, at New York ; the Canal lank, at
New Orleans ; and the Bank of Washington,
in this City.
Further effects of Loco Focoism.?The^d
ministration have met with serious defeat jn
Maine. The republican candidate for govev
nor has been beaten, and instead of our usual
majority of nine or ten thousand, we are now
in the vocative.' And why is this ? The an
swer is plain. Men have become alarmed at
the progress of Loco f ocoism. They ha\e
been told that it received countenance ii^higk
places?that the party in power recognised as
in their ranks the professors of that creed, and
they feared its destructive effects. Those
who were content to remain quietly at home,
while the good of the people was studiously
advanced by the pillars of our party, turned
out to a man, when they were made to be
lieve that Loco Focoism was fostered in its
stead ; while others, active republicans, have
thrown their weight into the scale of the op
position, from a conviction that even whigge
ry is less odious than Loco t ocoism. We
regret that any have thus mistaken their true
interests, and that their fears have led them to
contribute to a result so disastrous as our de
feat in Maine. And yet, so long as we leave
room for the supposition that Loco Focoism
and Republicanism can travel the same road,
fit can by possibility unite ; so long shall we
be liable to similar defeats, snd we hazard
nothing, in predicting, that unless the connec
tion is absolutely and unequivocally dissolved,
and such dissolution made apparent to all, that
our overthrow is certain. State after state is
lost to ub, the whigs gain the ascendancy, and
a National Bank is established upon the ruina
of " untried expedients." Better march on in
the old democratic path, neither swerving to
the right to shake hands with the whigs, nor
to the left to recognise loco focos. Both are
to be avoided, and both deserve unabated hos
Maine.?By the returns of the election in
Maine as far as received, scarce a doubt re
mains but that the Whigs have succeeded.
Another Stato has fallen into the ranks of the
Opposition?a State which a year ago was
ten thousand strong in support of the Admin
istration ! Will such practical lessons of
instruction?such strong, though silent a voice
of admonition, pass unheeded ? Or does
madness continue to rule tho hour ?
We confess that we had strong fears that
tho custody and disbursement or the public
revenue by treasury officers would materially
increase executive patronage, by the increase
of additional appointments and the control of
the money in the Treasury; and to which
we are opposed.?Vermont Gazette.