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THOMAS ALLEN, The HaMMSMP - publtabed Tri-waekly during tha sitting. of Cong res*, snd Ssou-weekly during the It com it pif iQouin for lit mooibi, ^3. No subscription will be taken for a Una abort of aix month* ; not unless pa?d tot ?? Umanc*. PBIOB or ADVBBTtama. Twelve lines, or Uu, ihm insertion*, - 91 00 Each additional iiwertwa. ... 35 Longer advertisement* at proportionate rates. A liberal discount made to those who advertise by the year. tCT Subscribers may re nut \n mad, in bdla of solvent banks, fotUg* f U, at oor riak; provided ? shall ap Bby # poeluuutfer's certificate, thit such remittance been duly nuulid. A liberal diecount will be made to companies of Jive or more transmitting thou subscriptions together. Postmasters, and other* authorised, acting as our agents, will be entitled to receive a c6py of the paper gratu for every five aubecribers or, at that rate per cent, on subscriptions generally ; the term* bung fulfilled. Letter* and communications intended for tlie esta blishment will not be received unless the put lag* w ' PROSPECTUS. Thb Madisonian will be devoted to the support ol the principles and doctrines of the democratic party, a* delineated by Mr. Madison, and will aim to consummate that political reform in the theory and practice of the national government, which has been repeatedly indi csted by the general suiferage, as aaseiitiai to the peace and prosperity of the country, and to the perfection and perpetuity of its free institutions. At this time a singu lar state of again is presented. The commercial in teracts of the country are overwhelmed with embarrass ment ; it* monetary concerns are unuaually disordered ; every ramification of aociety is invaded by distrees, and the social edifice aeews threatened with disorganisation; eimrj ear <? filled with predictions of evil and the mur muring* of despondency ; tho geueial goverouwi.i im boldly aaaailed by a large and respects ble portion of the people, as the dPirect cau*e of their difficulties; open resistance to the laws is publicly encouraged, and a apirit of insubordination is fostered, aa a necessary defence to the pretended usurpation* of the party in power; *ome, from whom better things were hoped, are making the "confuaion worse confounded," by ahead long pursuit of extreme notion* and indefinite phantoms, totally incompatible with a wholesome state of the country. In the midst of all these difficulties and em barrassments, it i* feared that many of the lea* firm of the friends of the administration and supporters of democratic principle* are wavering in their confidence, and beginning, without just cause, to view with distrust those men to whom they have been long attached, and whose elevation they have laboured to promote from honest and patriotic motivea. Exulting in the anticipa tion of diamay and confusion amongst the supporters of the administration as the consequence of these things, the opposition are consoling themselves with tho idea that Mr. Van Buren'a friends, aa a national party; are verging to diasolutiou ; and they allow no opportunity to paaa unimproved to give eclat to their own doctrinea. They are, indeed, maturing plans for their own future government of the country, with seeming confidence of certain iucccs*. This confidence is increased by the fact, that visionary theories, and an unwise adherence to the plan for an excluttve metallic currency have unfortunately carried some beyond the actual and true policy of the govern ment ; and, by impairing public confidence in the credit systom, which ought to be preserved and regulated, but not destroyed, hava tended to increase the difficulties under which the country is now labouring. All these aeein to indicate the necettity of a new organ at the aeat of government, to be e*tabli*hed upon sound prin ciples, and to represent faithfully, and not to dictate, the real policy of the administration, and the true sentiment*, measure*, and interests, of the great body of it* sup porters. The necessity also appears of the adoption of more conservative principles than the conduct of those seems to indicate who aeek to remedy abuae* by de stroying the institutions with which they are found con nected. Indeed some measure of contribution is deemed essential to the enhancement of our own aelf-reapect at home, and to the promotion of the honor and credit of the nation abroad. To meet these indicationa this undertaking has been instituted, and it is hoped that it will produce the effect of inapinng the timid with courage, the desponding with hope, and the whole country with confidence in tho administration of its government. In this view, this journal will not aeek to lead, or to follow any faction, or to advocate the views of any particular detachment of men. It will aspire to accora a just measure of sup port to each of the co-ordinate branchea 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 pusion*. It will rely invariably upon the prin ciple, that the strength and aecuritv of American insti tutions depend upon the intelligence and virtue of the people. Thb Madibowian will not, in any event, be made the instrument of arraying the north and the south, the east and the west, in hostilo attitudes towarda each other, upon any aubject of either general or local interest. It will reflect only that spirit and those principles of mutual concession, compromise, and reciprocal good-will, which ao eminently characterized the inception, formation, and subsequent adoption, by the several States, of tho con stitution of the United States. Moreover, in the aame hallowed spirit that ha*, at all periods since the adoption of that sacred inatrument, characterized its dkpbncb by thb peoplb, our pre** will hasten to it* support at every emergency that shall arise, from whatever quarter, and under whatever guise of philsnthropy, policy, or principle, the antagonist power may appear. If, in thi* responsible undertaking, it shall be our good fortune to succeed to any degree in promoting the harmony 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 matter* of principle and of expe diency, without a mixture of peraona! unkindnes* or loss of reciprocal respect; and by " asking nothing that i* not clearly right, and submitting to nothing that is wrong," then, and not otherwiae, will the full measure of it* intention be accomplished, and our primary rule for it* guidance be sufficiently observed ana satisfied. Thi* enterprise ha* not been undertaken without the approbation, advisement, and pledged support of many of the leading and soundeat mind* in the ranks of the democractic 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 highest order will render it competent to carry forward the principle* by which it will be guided, and make it useful as a political organ, and interesting as a journal of new*. Arrangement* also have been made to fix the establishment upon a *ub*tantial and permanent basis. The subscriber, therefore, relies upon tho public for so much of their confidence and encouragement only as the fidelity of his press to their great national interest* shall provo itself entitled to rpceive. THOMAS ALLEN. Wa*H!notoh City, D. C. July, 1837 NOTICE. THE New York and Boston Illinois Land Company will offer at public auction at their office in the town of Quincy, Adams County, Illinoi*, on Monday the 27th day of November next, 100,000 acrea of their Land* aitu ated in the Military Tract in said State. Lista of the landa may be had at the oflice of said Com pany in Quincy and at 44 Wall Street, New York. Ajninimum price will be affixed to each lot at the time it is offered. JOHN TILLSON, Jr. Agent for the N. Y. & B. III. L Co. Aug. 25, 1837. lawtNov?8 PRINTER'S PAPER. PRINTING PAPER, with or without siting, of all qualities, made at the Saugerties Mill, U 1st it County, New York. Order* will be promptly attended to if ad dressed tothe Agent, WILLI AM BRADFORD, No. 16 Spruce street, New York. HENRY BARCLAY, Proprietor. Sept. a. !4w6 G1 LOVES, SUSPENDERS, STOCKS, WOOLLEN r SHIRTS, AND DRAWERS ?We have to-day opened? 30 dot. 8uspendera, best kind. 50 do. superior Glove*. SO do. Stocks, best make 50 pieces Silk Poeket Handkerchief*. 50 doxen Gentlemen'* Ribbed Woollen Drawers. SO do. do. do. do. Shirta. 0 do. Raw Silk Shirts. Also, 50 pieces Irish Linens. 200 do. Sea Island Cotton Shirtings. BRADLEY dt CATLETT *>?pt 8. 3Uw?w8 THE MADISON IAN. VOL.1 WASHINGTON CITY, SATURDAY, SEPTEMBER 30, 1837. STOVE?I .stoves: AITB QAAim. T HAVRjusI received from ths North ? very large sup 1 ply of 8t?vM.OniM, Md double Block Tin Wm Uffen Biggins, Dressing Botes, fee. 1 have Stoves of almost all kinds, suitable for or cZ. In the first place. I have the Rotary Cooking Stove. 0f all the differ ent sises, No. 0,1, t, and 3. Ten Plate StoVM of all the different siies, both for cooking and plain. Franklin Stoves of all the different sixes. 1 have some very splen did Parlor Stoves for burning mmIot hmm. Coal Stovea of ail sises. Dr. Spoor's Coal Stovea, fancy and plain Mpa, from No. 1 to 5. Cm! Stove, of other kinds. Dr Spoor'a Coal Stoves and the Globe Stoves are mil able for Public offices, large halla, churches, atorea, ar.d ateainlioata, or any apartment where you wiah a atrung beat. In fact 1 have Stovea that will heat any place either with wood or coal I have the latMt fashion Mantle Oratea, both low and high fronts, very cheap?and if 1 have not a pattern of Grata on band that will autt, 1 can make u at the shortest notice, to auit any fancy. 1 am fully prepared to do any kind of Tin, Copper, Sheet Iron, Stove, Grate, Lead or Zinc work, at the ahorteat notice. Auy peisan or persona buying Stovea or G rate a from the subscriber, or any other thing in hia line, will have them ?ent home in" good order, free of any extra charge. Storea will he put up reedy for uae, free of any extra charge. All the above arttolM will be .old very low, and all or der* thankfully received and punctually attended to, with d. apatoh, aa 1 shall have a number of first rale workmen. Five door* Ran of D. Clagett'a Dry Good Store, nest door to E. Dyer a Auction Store, Penn. A v. . CLEMENT WOODWARD. Sept #. (Intel, and Globe.) 3t8 BANK OF WASHINGTON. 20th Auuust, 1897. AT 'to* ?f 'he Board thia day, preaent, the Preaident and nine of the Directora, it wm una nimously Hfolvd, let. That on sad after the first of September next the uotee of thia B??k be redeemed in specie. UJ. Tl?at all Jepuaitea remaining unuiuwn, (me itnie having nearly all been received aince the suspension of apecie payment*,) and all future depoaite*, other than auch as may be made in apeeie, and be at the time ao en tered, be payable in notoa current in the District of Co lumbia. 3d. That all collection* for Bank* and individual*, and all curtail*, be received in note* current a* above ; and that all aum* no collected be paid hi like fund*. ? , W. GUNTON, Pre*ident. JAS. ADAMS, Cashier. CteodG /"ICONGRESSIONAL DOCUMENTS, JOURNALS^ m A,ND . DEBATES-GEORGE TEM rLLMAN ha* for *ale at his Book and Stationary Store, opposite the General Poet Office, all the Journala of Con gress, from 1774 to 1837. Galea and Seaton'a American State Papers in 21 folio vola., from the first to the 24th Congreaa incluaive, or from 1780 to 1823. The Regular Seriea of Documenta in royal 8 vo. vol umes, as published each Seaaion, from the 18th to the 24th Congress inclusive, or from 1823 to 1837. The Lawa 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 seiies is made complete to the 4th of March, 1837, by the pamphlet Lawa of the 23d and 24th Congreaa. Thia ia the edition uaed by Congreaa and the Public Offices. Story'a Laws of the United Statea, in 4 vols, from 1780 to 4th of March, 1837. The 4th vol. containa an index to the four volumes. The pamphlet or Seasion Laws of the United States from the 5th to the 84th Conrgeas inclusive, or from 1797 Any separate pamphlets can be furnished. A ,,.lM *nd Seaton'a Register of Debates in Congress. AH Documents on Foreign Relationa; Finance, Com merce, and Navigation; Internal Improvement; Military and Naval Affairs ; Indian Affairs; Public Land*, 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 citiea in the United Statea. Aug. 23. . t<3 BOARDING HOUSE. MRS. TAYLOR can accommodate'Members of Con gress, or other gentlemen, either with or without families, at her house, pleasantly cituatod, near the north eaat corner of 10th ana E street; being from thence an sgreeable walk to the Capital or to uie public Depart ments. Aug. 30. tf3 H?salfE FURNISHINO GOODS.?We have for fiO pieces ingrain carpeting, which we will aell low. 80 do Brussels. 62 do 5-4, 6-4, 10-4, and 12-4 Linen Sheetings. 100 do 7-4, 8-4 Barnsly Diapers. 8-4, 10-4 and *>-4 line Table Cloths. Napkins to match. 1 bale Russia Diaper. 1 bale wide Crash. Also, 50 Marseillea Quilts. BRADLEY & CATLETT. Se.p 9?3tw2w WE have for sale, which we will have made up in the best manner? 20 pieces super, black Cloths. 100 do ribbed and plain Cassimeres. 20 do plain and figured velvet Vesting*. 50 do colored and black Silk Vestings. BRADLEY 6t CATLETT. Sep 9?3tw2w8 E HAVE FOR SALE? 100 pieces Black Silks, superior fnake 50 do Figured Blue Block do 150 do Colored Figured Silks 100 do Plain do The above will be sold low. BRADLEY 6t CATLETT. S9?3taw3w (Globe.) SAMUEL HEINECKE 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 his long experience in cutting all kinds of garments, that general satisfaction will be given to such as may favor him with their 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 size of the head, to the searching test of practical experiment, or to obtain correct and 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. D7lndividuals will be waited upon at his office, and select parties and families at their dwellings. ALONZO BARTLETT. Pension et ecole francaise et an. GLAISE.?Madame' DORM AN has re-open her trench and English Boarding and Day School. She teaches herself the French schoo', and a very competent young lady from New York teaches the English school situate on 10th street, four doors from the Avenue. Conference* and Conversations in French. Madame Dorman will devote three hours in the even ing to Conferences and Conversations in French, for the improvement of ladies of mature years, and of young ladies who study or have studied this language, as it'is the best way to remove and prevent the objections that those who have learned this language by study are seldom able to converse it. At the North, Conferences and Conversa tion rooms, such aa Madame Dorman proposes, are always crowded; this manner of instruction being both pleasing and fashionable. 6 Ladies wishing to attend them will please apply to Madame Dorman. lr' SeP'- 12~ ' 2aw3wll NOTICE. rPIIE SUBSCRIBER wishes to procure a Lot of X ground of about 20 or 25- acres, intended for Wheat or Rye, this season, as near the Capitol m possible: for the purpose of exhibiting during the present session of i Congress, his Patent Revolving Harrow, &c. 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 willing to take one half of the field with three I *nod horses, to be worked abreast by one man, against s.x common drag harrows, each two horses and one man ; in doing which, he pledges himself, that the earth shall be , put in as good, if not better order in the same space of time, winch may lie required with the six common harrows. I A'tcr the work is done, disinterested judges Will he Be lected on the spot to examine the same with s four pronged tork or ?ke, to enable them to decide correctly which of he implements is best calculated for preparing the soil for the reception of the grain. And ns a further proof of toe value and superiority of his Rotary Harrow, the grain ir?,Llnb>',.t on one-half of the field, and the ? n 'V ?7 'he drag harrow When the f?ie J ..T 'hreshed and measured, he does not hesi \Z [0J.n"u,rr *n ">cresse in the crop of 10 per cent., over Where i?,m" be cultivated by the common harrow. he will tske' i'nll'w 'n l h"bl,of P?"?hing in their grain, h. ? , 10 th* *"*? produce 10 per cent. Kh Harrow, than 6 peeks turned in with the JAMES D WOODSIDE, Near the West Market Washington, D. C. * SPEECH OP MR. GARLAND, or viboihia. In the House of Representatives of the U. S. Sept. 25, 1837?in opposition to the bill reported by the Commutes of Ways and Means, entitled, " A bill imposing additional duties as depositories in certain eases on public oficers, and for other purposes ; (Continued.) Mr. Benton, a Senator frota Missouri, and dfatin^uished friend of the late and present administration, in a speech delivered by him in the Senate of the United States on the 2d of June, 1834, on the subject of the restora tion of the deposites to tho Hank Of the United States, ably vindicated the State bank system, and defended the State banks against the various attacks of the opposition. I here qaote his remarks upon that occasion. " Mr. Bkmton proceeded to slate several reasons, and to urge many considerationa in favor of adopting it. He deprecated uie spirit which seemed to liave broken out ?gainst State banks, and said that it augured badly for the rights of the Stales. The strongest currant of consolida tion which was now ohssrvabi* is the Union, was that which aat in favor of the Federal bank and against the State banks, and threaten-*] to consolidate all moneyed power, and with it all political power, in favor of a great central institution, independent of the States, and able, Xita own avowal, to crush the State institutions at ite isufe He aaid this spirit against the State banks was an impulsion nf nyxlnm origin?unknown w iho <Wth?r? of the republic, and to the ?*?riy history of the country? and strongest now where the spirit of consolidation was strongest, and where the defence of State righte was weakest. At the commencement of this Federal Gov ernment, said Mr. B., there was no Federal bank, and all the public moneys were kept in State banks, or drawn direct, and as fast aa they were received, out of the hands of receivers and collectors. General Hamilton, when Secretary of the Treasury, kept tbo public moneys, for the first year of his administration, in these banks, and kept them safely there. When the Federal bank was proposed in 1791, and the keeping of the public moneys was one of the services attributed to it, Mr. Jefferson, then a member of President Washington's cabinet, de nied the neceaaity of a Federal bank for any auch purpose, and openly declared himself in favor of the Stale banks. He said that these banks had already done this business for the Government, and done it well, and would no doubt enter into arrangements with the Treasury for doing it permanently, arid on beUer terms than it could be done by the Federal bank. Mr. B. read an extract from Mr. Jefferson's cabinet opinion, delivered to General Wash ington at the creation of the first Federal bank, to sus tain what he aaid of his opinions. The extract waa in these words: " ' The existing banks will, without a doubt, enter into arrangements for lending (heir agency ; and the more fa vorably, as there will be a competition among them for it; whereas, the bill delivers us up bound to the national bank, who are free to refuse all arrangement, but on their own terms, and the public not free, on such refusal, to employ any other bank. That of Philadelphia, I believe, now does this business by their post notes, which, by an arrangement with the Treasury, are paid by any other State collector to whom tbey are presented. This expe dient alone suffices to prevent the existence of that ne ceaaity which may justify the assumption of a non-enu merated power aa a meana for carrying into effect an enumerated one. The thing may be done, and has been done, and well done, without tnia assumption ; there fore, it does not stand in that degree of neceasity, which can honestly justify it." "Mr. B. ssid, that what Mr. Jefferson affirmed in 1791, waa aftewards proved under his own administration, snd that of Mr. Madiaon. During the wholo of their admin istrations, a large portion of the public moneva was kept in the State banks, and aafely kept there. Mr. Gallatin, in answer to a call made by lite Houae of Representatives, sometime before the expiration of the charter of the first bank, showed that the public moneys were then kept ii twenty different banks, of which nine were the Unite< States Bank and ita branches, and eleven were Stall banks! Mr. B. thought this point so material, that h< would read an extract from Mr. Gallatin'a report, to shov that he neither ovciatated nor mistook the facts. Hi then read the names of the State banka employed by Mr Gallatin, and the amount of public money in each. The were: the Bank of Columbia, 9 lift, 192; the Bank o Alexandria, 9 61,917; the Bank of Newport, Rbod Island, $35,788; the Bank of Pittaburg, $137,462 Roger Williams's Bank, $53,882 ; the Bank of Penri sylvauia, 992,628 ; the Bank of Saco, 928,528 ; th Manhattan Bank, 9188,670 ; the Bank of Maine, 950, 747; the Marietta Bank, 919,601; and the Bank o Kentucky, 991,061. Such, said Mr. B., waa the distribution of the depo sites of the public moneys in the time of Mr. Gsllatin more State banks employed than the whole number o branches and the mother Bank of the United Slates pu together! In several inatances, a State bank was ein ployed in the same place in which a branch of the Fede ral bank was situated, and some of those einployod thou arc employed now. Gf this class, Mr. B. instanced the| Manhattan Bank of New York, and stated that the stock of this bank was, at this day, about twenty dol lars in the hundred higher than the atock of the United States Bank ! And this after all the efforts which had been made to shake public confidence in the State banks, and especially those of New York. The Bank of Alex andria,-which he said had lately stopped, with a small amount of public money in it, and the payment of which is secured, was also in tho liat of Mr. Gallatin'a deposite banks, and had double as much money in it in his time,, as when it lately stopped. That bank had been a depo site bank for forty-fivo yoars, and tho Government had lost nothing by it, notwithstanding the attempt lstely made to delude the public with a belief that it had just been selected by Mr. Taney, and had immediately failed, with an immenae loss to the United States. Mr. B. said, it was thus proved, by an experience of twenty years^?an experience running through the whole of the administrations of Jefferson and Madison, and a part of their predecessors?that the public moneys may be safely kept in the State banks; and that Mr. Jeffer son was, right, in his cabinet opinion of 1791, when he gave it as his solemn opinion to President Washington, that there was no necessity for chsrtering a Federal bank to act as the fiacal agent of the Federal Treasury, and that the State banks would enter into arrangements for that purpose, and do the business well! Mr. B. said it was true that the Federal Government had since lost about a million and a half of dollars by Slate banks ; but that loss took place in a season of universal embarrassment, growing out of a state of war and general stagnation of trade and commerce ; a season which cannot be made the rule for judging State banks, without extending it to the Federal bank alao ; and then it would lie fatal to that bank, for the United Slates lost about eleven millions of dollars in sustaining the present Federal bank in the same season of embarrass ment, and saving that bank from sharing the general fale of the State institutions. This statement, Mr. B. said, was one of those fscts which it was good to prove, and aa the proof was in the documents of the Senate, he would use it, and extinguish at once this delusive and deceptive comparison between Stato banka and the Federal banka. Mr. Benton wan sustained in his preference for the Stato banks by Mr. Wright, of New York. The present Speaker of the House, in a spcech delivered by him on this subject, on the 20th of June, 1834, ably vindicated the State bank system, in the course of which he made the following remarks :? " The State banks, then, are to be employed, either under our law as it exists, or under the law as Congress may modify it. The bill before us proposes modifi cations, limiting and defining, with more precision thsn hss heretofore been done, the executive discretion and power. It is tendered to the House, and eapecially to thoae who have raised the cry of a union in the Presi dent of the sword and the purso, when in fact he pos sesses neither. The present Executive does not desire, snd never has desired, to retain any discretionary power in the execution of the laws, which, from its nature, is susceptible of being defined by law. The Executive, and his friends upon this floor who sustain him in the recent executive measure of tho removal of the depos ttes, desire to see him, and not only hitn, but his suc cessors in the executive office, relieved from the respon sibility of exercising discretionary power in relation to the safe-keeping, management, aiid disbursement of the Eublic monev, aa far as, by legislative provisions, it can e done. The bill which haa been presented contains provisions suited, in the opinion of the committee who Kred ?nd brougfc it forward, to attain thi? end I invited gentlenen who may think ka provisions in adeqeate, at who mqr euppoee that too much power * elill left ta the handtyuf the Executive, to CMM Ibrward with their modificalisns, atiU further limiting and con fining hia |lower, tf they will wither accept thia bill, nor propoee to amiad and make it mow perfect, the eonekaaicn muel ho, that they prefer the Uw aa it ia to any new Ugialative pwieion. If they do not co-operate with ua in perfecliuf and psaaing thia bill, the conclu aion will be irreeiatble that the cb t<e wbich has been ?ade againet the 'resident, of a deaire to seixe upon powera which do MM belong to htm, waa designed to produce an en?ne?ua iropreaaion upon the public mnid, and ia wholly unlsunded in tact; that they prefer the dieting law# to tny ainendiacnU which can be made, and, in a word, tlat the real purpose to be effected by all the violent and impassioned appeala which hare been made, charging hiti with uaurpatwn, waa to operate up. on the public, wi^ ? view to procure.? contuiuance of the present odioui bank monopoly." In a speech delivered by him on the 10th of February, 1835, he said? "The State banka arc not only competent to furnish all the domeatc exchange required for the convenience of trade, but Ihey furnish it at cheaper rates, in many parte of the Ipioft, than the Dank ol the Uuited Statee baa hereiofort done the same buaioeae." In telaton to the sub-treasury scheme, of fered by Mr. Gordon, which seems to be the pioneer jf the present, in the same speech, Mr. Polk said? " Aa regarde the second objection, the alleged incom petency of theee W?k? ae fiecet agents, the mannw MS which they have performed and are performing these dutiea mutt remove all double which may have existed on that point. It ia no longer a question of doubt whether they can, with facility and promptness, transfer the public funds to the most distant points for disburse ment, and perform all other duties wluch, aa fiscal agenta, they may be required to perform ". These evidences, added to the fact, that upon the question of adopting the sub-treasu ry plan proposed by Mr. Gordon, every friend of the administration, save one (Mr. Beale, of Virginia) voted against it, as did a majority of the opposition. It has been said that the friends of the administration voted against this scheme with a view of trying the suffi ciency of the State bank system, that is to make an experiment; but General Jackson s, Mr. Woodbury's, Mr. Benton's, and Mr. Polk's assertions are at war with this imputation. Each of them attested that the State bank sys tem had been well tried, and found amply sufficient for all the purposes of fiscal agency, domestic exchanges, and sound surrency. ^ I cannot believe that the friends of the admin istration would thus have experimented upon such an important and delicate subject as the currency, when there was presented for their - ltotice w teovb to reconsider. A great diversity of opinion exists, as may be observed by the result of the vote, in re gard to the policy of withholding this instal ment. Many think it would be a more seri ous inconvenience to the states to withhold, than it would be for the Government to issue Treasury notes, or borrow money to the amount of the instalment, which is nine mil lions. The people of several of the states, expecting it would be paid over at the time appointed by the law, have made appropria tions, and entered into obligations in various forms and for various purposes, founded upon that expectation. We regret the necessity which calls for the issue of Treasury notes. As they must be issied, however, the more the better for the pr?sent time. They will doubtless go abroad in liquidation of the foreign debt; be used at home for the purposes of transmis sion, a?d, as Gar as they can be made, to sup ply the place of bank paper, will enable the banks to diminish their circulation without inconvtnience to the community, and very greatly facilitate the resumption of specie payments. Maint.?We have information (under date lor sua ueienaing iue ?????? - become a bank aristocrat; from this it would seem tlat democratic principles, like derang ed currency, is somewhat fluctuating. Mr. Chairman, experience, which is the most uierring of all human guides, one troth tested iy which is worth a thousand theories, has taight us that credit is a plant of delicate charac-er, and cannot, with safety, be rudely handlel ; it must be touched as cautiously as vou weuld touch the sensitive plant. Often has th* soundest credit, with the most ample, although not immediately available means, withered and sunk beneath the breath of un just awl unwarranted suspicion. -No credit, and no credit system can be sustained, with out confidence?confidence is its very es sence, and whenever withdrawn, whether justly or not, seriously affects it. The bank ing institutions of the country are sustained cntireW by confidence, without it their notes would have no circulation, and they would not be able to conduct their business profita bly. Want of confidence, then, or withdraw al of existing confidence, must, in the nature of things, greatly prejudice these institutions, and derange and embarrass their operations. Tho recommendation of the President and the Secretary of the Treasury to discontinue the present deposite system, and tho receipt of the notes of the banking institutions, is based upon the allegation that these institu tions have been unfaithful to their high obli caions, and therefore not worthy of continued canfidence. The present suspension ol spe ce payments and its consequences, is the o-ound upon which this recommendation is founded. I propose, Mr. Chairman, briefly ta examine whether the present condition of tie banks, both as rclatos to their ability to meet all their liabilities, and the propriety of tie suspension of specie papments, justify tlis charge, and the entire withdrawal of P?** lie confidence. That the deposite banks will be able to redeem all their liabilities, and that at no very distant period, is very manifest, not only from tho report of the Secretary of tie Treasury, but from their actual condition ai ascertained and reported to this House. After the cautious and rigid scrutiny institut el into the condition of the State Banks when they were about to be selected, 1 suppose it will not be doubted, that the selected banks were entirely responsible, and in high credit. I have selected eighteen of the principal banks in which the public money was deposited, and three others selectcdin 1835. rl he follow ing comparison of their aggregate condition in relation to circulation and specie, when they wero at first selected, and now according, to the la?t~returu?, prove* mottt coucluaively, that in relation to apecie and circulation, their con dition is materially improved. Condition of IS of the uruteiml Dank* wUn firat ae lected, and up to August 15th, ItTI, including tkrac of the principal selected Banks under tU ai-U of IB30. Capital. Circulation. Specie. When first selected, 30,723,870 14.060,075 3.&3.2M About Aug. 19th laat, 44,970,900 is.aos.7ao 5,457,536 14,345,MO 3,1*63,(MM 1,033,25# The circulation not quite 3 to 1 of specie. The annexed table shows their individual condition : Comparison of Exchangee. In 1834, Exchanges of the Bank of the United Slates, 0225,617,910 In 1830, by Deposits Banks, 420,463,211 All other liabilities and responsibilities are improved ill nearly the same ratio. I refer to the last returns from the Treasury Depart ment, and those officially published by the different and most important banks, to prove that there has been a general improvement in the condition of nearly all the banking insti tutions. 1 have before me an official state ment of the condition of the banks of Vir ginia, exhibiting an improved, and improving condition, and entire solvency. I might re er to others, but time will not admit. The Treasury reports prove that notwithstanding he suspension of specie payments, the de xtsite banks have rapidly reduced, and have learly extinguished their debt to the govern ment. On the first day of January last, there 'was in the deposite banks to the credit of the 'Treasury, $42,468,859 97, of this sum there has been transferred and paid to the States, under the .deposite act, 127,063,430 80, leav ing a balance of $15,405,429 17; of that balance and of all the deposites made since, ; there now remains only the sum of |12,418, 041 due to the government, of this there only remains $8,166,492 85 subject to draft, drafts having been issued for the remainder; and 1 do not doubt the amount is now much less. Of this amount, there is due less than ?1,000, 000 from the banks in the Atlantic States. Since the 1st of May, about the time specie payments were suspended, according to the report of the Secretary of the Treasury, the deposite banks have reduced their discounts $20,388,776, their circulation 94,991,791, their public deposites $15,607,316, while their specie has diminished less than $3, 000,000. The Secretary further informs us that, " of the number of eighty-six banks employed at the time of the suspension, ten or eleven are supposed to have paid over all the public money, which was then in their possession, to the credit of the Treasurer. In the custody of more than half of the others, an aggregate of less than $700,000 remains unadjusted. Several of the rest, still possess large sums; but many of them have continued promptly to furnish such payments from time to time, for meeting the public necessities." Mr. Chairman, these payments and these exer tions afford most conclusively, evidences of the fraudsand insolvency of the local banks; would to God, all fraudulent and insolvent men would furnish a little more evidence of dishonesty and insolvency such as this, sir. The Secretary of the Treasury from his report, does not expect to lose a single dollar of the public money, so that the disconnection recommended, can not have any foundation on this pround. But, sir, the Treasury Department affords us an other important fact, in its circular to the hanks of the 3d of July last, upon the subject of the suspension of specie payments, and ad ditional security for the public dues, he says : " It affords mo much gratification to find, so far as re gards the inquiry concerning the payment and security, a great willingness expressed to make the United States amply safe for the eventual payment of all that is due, and a strong conviction entertsined by the banks that no loss will be ultimately sustained by the Govern ment." Again he says, " Another portion of that circular communicated in formation concerning the lenient mode which, under the severe losses experienced by many of the banks from mercantile failures, and under the embarrassments to others, cauaed by panic and want of confidence, was contemplated to be adopted in recalling the public funds. That mode was by such moderate drafts and transfers as the public necessities should from time to time de mand ; and an ear-est request having been made for a satisfactory compliance with it on the part of the banks, assurances have generally been given of a readiness to answer those calls with promptitude, and in an accepta ble manner." Again he says, " The returns of the condition of the selected hanks, which were requested to be continued, have generally been made with promptitude and regularity. But while it ia very satisfactory to see, in most cases, a reduction in discounts and circulation, and which course is the moat efficient to cure one of the existing evils in bank ing. and to enable the institutions which nave suspended specie payments to resume them at an early day, and with much greater safety, it is regretted that, in a few instances, this course has not been adopted. But when ever departed from in such a crisis, the error has tended, and must tend hereafter, to impair the confidence of the Department in the sound management of the institution, and to justify such steps as may lead to a more speedy withdrawal of the pubhc money, or to tb? procuremen of increased security." , From these evidences, I take it for granted,, that the deposite banks are solvent, and that the government will not lose a single dollar by tnem. This is not the only evidence afforded by the Secretary of the Treasury of the solvency of the many of the deposite and the reliance placed upon them to aid in redeeming the country from ita present embarrassed con dition?on the 13th of the present month, while the bill authorizing the issue of Treaau ry notes waa depending, the Secretary ad dressed the following letter to several of these institutions, proposing to them to purchase the Treasury notes which shall t>^ authorized, and to pass the proceeds to the er*du of the Treasury ss tpeeit to be paid aa the wants of the government may require?this is the let ter: " Tbbaiubt Dspabtmbst, I September 19th, 1897. I " Sis: A bill is now before Congrats to authorise the President of the United S la lea to cause the issue of Treasury notea for such sum or sums sa he may think expedient; hut not exceeding in the whole amount of notes issued, the sum of twelve millions of dollars, and of denominations of not leea than one hundred dollars for any one note, to be reimbursed at the Treasury of the United Stales, after the aspiration of one year fiwn the dates of the said notes respecUvely " I will thank you to stale whether, in the event of the passage of this bill, you will agree to take the said notes from the government, and give the Treasurer of the United Slates s credu for the amount; to be drawn for aijtnay be neceeaary, and payable in apecie if required, and, if so, to stats what amount you will receive, and the lowest rate of interest lu be borne by said notes. I sin, very respectfully, Your obedient servant, LEVI WOODBURY. Yes, air, some of these faithless and un worthy institutions ore appealed to, to pur chase Treasury notes, and pass the proceeds to the credit of the government, and hold it until it was wanting by the government. Judging from the generally admitted princi ple, that the soundness of a bank is to be determined by the proportion of its actual specie capital to its circulation, the deposite banks are sounder than the Bank of England, or the English Joint Stock banks. Up to the 25th July last, the relative proportion be tween the specie capital and its circulation was as follows: Specie. Bank of England - - 26,150,000 Private and Joint Stock Banks 00,000,000 July 1. $26,150,000 Circulation Bank of England - ? 91,305,000 Private and Joint Stock Banks 5,362,165 ?96,667,165 Specie. United States Deposite Banks 11,429,012 Circulation United States Deposite Banks 31,779,874 From this comparison it is manifest that the deposite banks in the United States, were in a condition belter to sustain a sound currency and specie payments than the English banks, unless some other cause should operate a different effect. Yet, although the same causes which embarrassed the commerce and credit of the United States existed in En gland, the Bank of England continued specie payments, and the Bank of the United States suspended?Why? four causes are manifest: 1. the Government of England continued their confidence in their institutions, ours with drew its; 2. a .large debt was due from the American to the foreign merchants, and a necessity for large specie exportationa pro duced ; 3. the continuance of the specie cir cular ; and 4. the execution of the deposite act of the 23d June, 1836. (To be Concluded.) From the Frederick (Fa) Timet. THE MAINE ELECTION. IAVS THE PASTY ! It has been an invariable practice with certain press es?profeiting to be devoted to the principles of the Democratic Republican party, and pretending to be anxious to maintain its ascendsncy?to misrepresent our strength in several states where electiona have been held during the laat three months. ' Such a course, un less exposed by the true friends of Mr. Van Buren, ia calculated to deceive his supporters and lull tbem into fancied security, when iminent danger of defeat ia threatening them. We have recently had elections in Kentucky, Indiana, Alabama, Mississippi, Rhode Island and Maine, where the Democratic party have sustained losses truly sppslling to any sincere democrat! We know it has been aaaerted by a press in this county clsiming a close affinity with democracy, that we have sustained no loss in Indiana and Kentucky. But the editor of that print knew better when he made the state ment. It is true they caat their votee for Gen. Harri son in November last; but the entire Congressional delegation from Indiana were good democrats, and a third of the Representatives of Kentocky were of the same clasa. How we stand in those states now, is too melancholy and disheartening to reflect upon! Rhode Island has belonged to us for the lsst three years, and we have carried Maine by overwhelming majorities in every election since 1831. Now we hsve lost Rhode Island by a heavy vote against us, and Maine?if she is not gone over to the enemy?is " shivering in tha wind." Wc ask the people soberly and seriously to in quire what is the cause of all this. Thirty or forty of the most prominent democratic journal? of the United States?in company with ourselves?have warned C"'* tain high characters who seek to control the affairs of the nation, that their extreme notiona about the curren cy would bring the democratic party of tho nation to de feat, unless they paused in their mad aud ruinous r.caree Hundreds and thouaanda of the foremost champions of Democracy in the State of New York and elsewhere, have spoken to them in the same language. They were told that, nothing short of an immediate abandon ment of their wild theories would avert the approaching overthrow of the Democratic party. A solemn conviction thst the Sub-treasury scheme of the Bentoniana would drive a large portion of the Democratic party from Mr. Van Buren'a support, and an oarnest desire to prevent that catastrophe, nas built up the Conservative party, at the head of which elands the Madisonian, the Richmond Enquirer, the New York Times, the Hartford Patriot, the Cincinnati Republican, and all the oldest Democratic papers in the country.? And when we tum our eyes to tne halls of Congress and find that the far greater portion of the talent, virtue and influence of the Democratic member* ia enlisted in our cauae, we are convinced that, they can vet save the Democratic party from desUuction. Whatever may now be ssid of tho ' Spartan band' of Conaervatives by the unprincipled demagogues of the day, the time is not far diatant when they will be hailed as the Saviours of the Democratic party. If they have not numbers enough to secure the triumph of their liberal and patri otic measures, we thank heaven they have strength enough to stay the tide of I<oci>-focoism which threaten to aweep away all the foundations of Democratic secu rity. And we thank heaven, too, that Mr. Van Buren ia not so wedded to the Sub-treasury scheme, that he will not bow with chcerfulnesa, to the will of the peo ple'a representatives. Those who wish to represent him as the stubborn ad vocate of that system, (whether they be Whiga or his professing friends,) sro unfaithful Sentinels upon the watch tower, and are anxious to bring the Democratic party of thia country to the same mortifying defeat which haa befallen them in other places. We aay then to every true Democrat Be not deceiv ed. The (Jonservstive party will interpose their ahield between you and your would-be destroyer*. Turn out in your pride and your atrength on Monday week, and teach both claases of your enemies that you are yet true to the cauae of a righteous Democracy. At the snnual distribution of prizes gained by the pupils of the various colleges which form the University of Paris, the King'a youngest sons were successful candidates; the Duke D'Aumalle, 15 years old, gaining the prize for history, and the Duke de Mont pensier, aged 13, that for natural history.