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THOMAS ALLEN, ?DIT01 iNP riofllltoi. Th? MtmioNUN is published Tri weekly during ihe ?iumin of Congre.., and Semi-weekly during the le cese, at W per M?um. for six inontbii, $3. No ?ub*cription will lx> taken for a term short of sis month* ; uor utile** paid for m adjunct. PKH't or advkhthiko. Twelve line*, or le*?, three insertion*, - f 1 00 Each additional insertion, ? ? I,onicr advertisement* at propionate rate*. A liberal discount made to those who advertise by the year. lO- Subscriber* may remit bv mail, in bills of solvent banks, postage paid, at our risk ; provided it shail ap pear by a postmaster's certificate, that ?uch remittance has been duly mailed. A liberal discount will be made to companies of fit* or more transmitting their .ubscriptiona together. Postmasters, anil others autborued, acting as our aaenu, will be entitled to receive a copy of the paper Trait* for every five .ubscriber, or, at that rate per cent, on subscriptions generally ; the term* being fulfilled 1 utters and communications intended for the esta blishment will not be received unless the postage u paid. prospectus. Thk Madisonian will be devoted to the support ol the principle* and doctrines of the democratic party, as delineated by Mr. Matiiron, and will aim to consummate that political reform in the theory and practice of the national government, which has been repeatedly indi cated by the general sufferage, asassential to the peace and prosperity of the country, and to the perfection and perpetuity of it* free institutions. At this tune a singu lar state of affair* is presented. The commercial in terests of the country are overwhelmed with embarrass ment ; it* monetary concern* are unusually disordered ; every ramification of aoeiety i* invaded by distress, and the social edifice seem* threatened with disorganization; every ear is filled with predictions of evil and the mur muring* of despondency; the general government is boldly assailed by a largo and respectable portion of the people, as (lie direct cause of their ditliculUes ; ojk-ii resistance to the laws is publicly encouraged, and a spirit of insubordination is fostered, as a necessary defence to the pretended usurpations of the party in power; some, from whom belter things were hoped, are making the " confusion worse confounded," by a head long pursuit of extreme notions and indefinite phantoms, totally incompatible with a wholesome stale of the country. In the midst of all these difficulties and em barrassinents, it is feared that many of the less firm of the friend* 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 motives. Exulting in the anticipa tion of dismay 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 Huron's friends, as a national party, are veiging to dissolution ; and they allow no opportunity to pass unimproved to give eclat to their own doctrines. The* are, indeed, maturing plans for thtir own future government of the country, with seeming confidence of certain succesa. This confidence is increased by the fact, that visionary theories, and an unwiso 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 regulated, but not destroyed, have tended to increase the ditliculties under which the country is now labouring. All theso seem to indicate the necessity of a new organ at the seat of government, to be established upon sound prin ciples, and to represent faithfully, and not to dictate, the real policy of the administration, and the true sentiments, measures, and interests, of the great body of its sup porters. The necessity also appears of the adoption of more conservative principles than the conduct of those seems to indicate who seek to remedy abuses 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 self-respect at home, and to the promotion of the honor and credit of the nation abroad. To meet these indications this" undertaking has been instituted, and it is hoped that it will produce the effect of inspiring the tnnid with courage, tho desponding with hope, and the whole country with confidence in tho administration of it* government. In this view, this journal will not seek to lead, or to follow any faction, or to advocate the views of any particular detachment of men. It will aspire to accord a just measure of sup j>ort to each of the co-ordinate branches 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 prejudice* or evil passions. It will rely invariably upon the prin ciple, that the strength and security of American insti tutions depend upon the intelligence and virtue of the people. The Madisoman will not, in any event, be made the instrument of arraying the north and the so^ith, the east and the west, in hostile attitudes towards each other, upon any subject of either general or local interest. It will reflect only that spirit and those principles of mutual concession, compromise, and reciprocal good-will, which so eminently characterized the inception, formation, and subsequent adoption, by the several States, of the con stitution of the United States. Moreover, in the same hallowed spirit that has, at all periods since tho adoption of that sacred instrument, characterized its oepenck by thk people, our press will hasten to its support at every emergency that shall arise, from whatever quarter, and under whatever guise of philanthropy, policy, or principle, the antagonist power may appear. If, in this responsible undertaking, it shall be Onr good fortune to succeed to any degree in promoting the harmony and prosperity of the country, or in conciliating jealousies, aild allaying tho asperities of party warfare, by demeaning ourself amicably towards nil; 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 lency, without a mixture of personal unkindncss or loss reciprocal respect; and by " asking nothing that is not clearly right, and submitting to nothing that is wrong," then, and not otherwise, will tho full measure its intention be accomplished, and our primary rule for its guidance be sufficiently observed and satisfied. This enterjirize has not been undertaken without the approbation, advisement, and pledged support of manv of the leading and soundest minds in the ranks of the deinocractic 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 principles by which it will be guided, and mako it useful as a political organ, and interesting as a Journal of news. Arrangements also have been made to fix tho establishment upon, a substantial and permanent basis. The subscriber, therefore, relies upon tho public for so much of their confidence and encouragement only as the fidelity of Ins press to their great national interests shall prove itself entitled to receive. THOMAS ALLEN. Washington City, 1). C. July, 1837. EXCHANOE HOTEL. TIIK SUBSCRIBERS, having leased the Exchange Hotel, (l?lr Pimm's,) ami having fitted it up in first rate style, will tie prepared to receive visiters on MON DAY the Oth inst. The location of the house, being w ith in n fe w mini'tes w alk of the depot of the Baltimore and Ohio, Washington and Baltimore, and Pluladelph iajt?il roads. as well as the SteamUiat to Philadelphia, Nortolk, and Charleston, S. C., makes it a desirable place to all travellers going to either section of the country. This HOTEL attached to the Exchange Buildings in this city, has been erected and furnished at a isreat cost by the pro prietors, and is designed to lie a first rate hotel. It m the intention of the subseril>ers to make it for comfort, re spectability, Ate. he., equal to any house in the United Stales. '1 be undersigned flatter themselves that they need only promise to all who may patronise the establish ment, that their best efforts shall be exerted to please, and at charges which they hope will meet their approba ions. JEWETT iV HE BUTTS Baltimore, Oct. 7, 1837. 4w21 HOUSE FURNISHING GOODS.?'Wc have for sale? 50 pieces incrain carpeting, which we will sell low. 50 do Brussels. fi2 do 5-1, 0-4, 10-4, and 12-4 Linen Sheetings. J00 do 7-4, 8-4 Barnslv Diapers. rt-4, 10-4 and 20 4 fine Table Cloths. Napkins to match. 1 l??lc Russia Diaper. 1 bale wide Crash. Also, 50 Marseilles Quilts BRADLEY & CATLETT. Se p 9?3tw2w WASHINGTON CITY, TUESDAY, OCTOBER 31, 1837. FOR 8AI.K, OR BARTER, for property in the city of New York, or lands in Illi nois, ths followlug vnluaiilc property in ths village of Oswego : , B3" The rapid growth of Oswego, iu un surpassed advantages and great prospects, are too well and too (euerally known to require a particular descrip tion. IEP A very minute description of the property is deem ed unnecessary as it is presumed that purchasers living at a distance will coins and see, before they conclude a aargiun. .Suffice it lo say, that it is among lite very best bn the plat v lLs Y%oam wit lands or tn? flr*t quality, w ith a perfectly near title, and free of incumbr see, will be taken in ex ch U_r heurit pom paid, addressed to the subscriber, at Oswego, will meet with prompt attention. An ample de scription of the property offered in exchange is requested. In East Oswkoo.?The Eagle Tavern and Store ad loining, on First street, with a dwelling house and stables on Second street, being original village lot no. 50, 66 feet on First street, runniug east 200 feet to Second street. The south half, or original village lot no. '14, being 33 feel on First street, running east '400 feet to Second street, with the buildings erected thereon. The north-east comer of First and Seneca (late Tau rus) streets, being 90 feet on First, and 100 feet on Senc caHirerts, with the buildings erected thereon?comprising part of original village lots nos. 41 and 42. Three lots, each with a dwelling, fronting Second street; I,lie lots are 22 feel wide by 100 deep, being part of original village lot no. 41. Lot, with dwelling house, [original village lot no. 26,] being 66 feet on First street, running west about 250 feet, across the canal into the river, so that it haa four fronts. In West Oswbgo.?Lot corner of Fifth and Seneca (late Tatirus) streets, opposite the public square, lieingon Seneca street 143, and on Fifth street 198 feel, withdwell ing, coach house, stabling, and garden. The latter is well stocked with the best ana rarest fruit, ornamental shrub bery, flowers. &c. A lot adjoining the above, being 78 feet on Fourth stre?t by 58 feet in depth. Six lots on First street, each 22 feet in' front, running east 100 feet to Water street, with the buildings thereon. The Wharf and Ware houses on Wa ter street, opposite the foregoing, being 132 feet on Wuter street, and running east about 110 feet lo the river. [This wharf has the deepest water in the inner harbor.] Lot corner of Seneca and Second streets, Iveing 21 feet on Seneca, and 66 feet on Second streets. Five Lots ad joining the foregoing to the east, each being 22 feet on Seneca street, by 66 feet in depth. The above being part of the original village lot no. 36. The north half of block no. 63, being 200"fcet on Utica [late Libra] street, by 198 feet on Third and Fourth streets. On Van Bourn Tract.?Lot no. 1, Montcalm street, being 200 feet deep, and running north along Montcalm street several hundred feet into the Lake. Lots no. 2 and 3, Montcalm street, each 66 by 200 ft. 12 " 13 " " 13, 14, and 15,being 343 ft. on Bronson st. 210 on Van Buren st. 300 on Eighth st. North 3-4ths of lot no. 25, corner of Van Buren "ad Eighth streets, being 200 feet on Van Buren, and 148 t eet on Eighth streets. Lot 82, south-west corner of Cayuga and Eighth streets, 66 by 198 feet. Lots 83, 84, 85, 86, 87, on Cayuga st. 66 by 198 ft. 88, s. c. corner of Cayuga and Ontario streets, 198 by 104 feet. 89, 8. w. corner of do, 198 by 195 ft. 70, on Seneca St., 66 by 198 feet. 58, s. w. corner of Seneca and 8th st*., 66 by 198 ft. 50, n. e. corner of Onturio and Schuyler streets, 198 by 101 feet. , 50. on Seneca street, 66 by 198 feet. 75, s. e. corner of Seneca and Ontario streets, 198 by 104 feet. 76, s. w. corner of do. 198 by 130 ft. 64, n. e. corner of do. 198 by 104 ft. 46, 47, 48,'49, on Schuyler st., 66 by 198 ft. The incumbrances on the whole of this property do not exceed sixteen thousand dollars, which may cither re main, or if desired, can be cleared off. J. C. BURCKLE. Oswego, N. Y., Aug. 22,1837. 2in6 PLUMBER'S BUSINESS?The subscriber, from Baltimore, takes this method of informing the citizens of Washington and vicinity, that he will remain a few days, and make arrangements lor undertaking any of the follow ing kinds of work in his line of business, viz. The erect ing of Water Closets, Force or Lift Pumps, Baths, hot or cold, fitted in a superior manner, the conveying of water from springs to dwellings, and through the different apart ments, draining ijuarries, or any kind of lead work. He can be seen at Mr. Woodward's. DAVID BAIN. N B.?He has with him a few Beer and Cider Pumps, to be seen as above. CLEMENT WOODWARD, Berween 10th and llthsts., Penn. Avenue. Oct. 18?23 CHINA, GLASS AND QUEEN'S WARE. MOSES POTTER, 46 South Charles St., Baltimore, HAS just received and is now opening, five hundred ntul forty packages of the above description of goods, adapted for the Southern and Western markets?Con stantly on hand, English, Iron Stone, and Granite China, suitable for extensive hotels and steamboats?all of which will lie sold on as favorable terms as can be bought in any city in the Union. Oct. 10. tf22 SAMUEL HEINECKE informs his friends and the public,'that he has taken a room four doors north ol Doctor Gunton'a apothecary store, on ninth street, where he will carry on his business. He feels confident, from his long experience in cutting nil kinds of garments, that general satisfaction will be given to such as may favor him with their custom. scp 23 3taw3w WILL BE PUBLISHED on Monday next. No 1 of the UNITED STATES MAGAZINE AND DE MOCRATIC REVIEW, wilh a full length engraving in copper of Col. Benton addressing the Senate?after a fine sketch by Fenderich. table of contents. 1. Introduction. The Democratic. Principle? The importance of its assertion, and ap plication to our political system and lite rature. 2. The Battle-Ficld. By Wm. Cullen Bryant. 3. Nathaniel Manm. - - 4. Antiimn. By Mrs. E. L. Follen. 5. The Constitution Oak. .... 6. Tho Toll-Gatherer's Day, a Sketch of Tran sitory Life. By the Author of "Twice Told Tales," ..... 7. The Worth of Woman. From the German of Schiller. 8. Mexican Antiquities of Palenqtic and Mit lan, in tho Provinces of Ciiiapa and Oazaca. 9. Palestine, An Ode. By J. G. Whittier. 10. Miriam, a Dramatic Poem. ... 11. Storm Stanzas. 12. Glances at Congress, by a Reporter, No. 1. ?The Extra Session?the American Union ?the Hall of the House?the Sneaker? Henry A. Wise?Eli Moore?Calrb Cush ing?John Quincy Adams?C. C. Cambrc leng?Ogdcn Hoffman. 13. Enigma. By A. H. Everett, Esq., Boston, Massachusetts. 14. Political Portraits, with the pen and pencil. No. 1. Thomas Hart Benton. [With an engraving.] .... 15. Epitaph. From the Greek Anthology. 16. European Views of American Democracy. De Tocqueville. .... 17. The River. - - 18. The Moral of the Crisis 19. Retrospective view of European Politics. (Introductory Article to the Historical Register of European Events?) The system pursued at the Congress of Vienna?Its in fluence on France?England in 1815 and 1835.? FRANCE. Gain in Democratic Lil>erty since the Re volution?Iiouis Phillipe?Bocrne on Lilierty. GER M ANY. Policy and effect of alsdishing the Empire. PRUSSIA. Its policy and influence?The tariff union and currency?Philosophy of the Germans?School system?Military organization?Municipal government. Al STRIA. It* internal condition ana political posi tion?Hungarian diet?and Bnron Wesseleny. MI NOR STATES IN GERMANY. The Press?The Palish Revolution. SPAIN AND PORTUGAL? HOLLAND AND BELGIUM. DENMARK AND SWEDEN. SWITZERLAND. ITALY. Austri an influence?Fortifications of Brixen. RUSSIA. Probabilities of collision w ith England?Consequence of the ascendency of ihc Democratic principle in Eng land?Conclusion. Office of the U. S. Magazine and Democratic, Review corner of 10th and E streets, Washington. 3t?23 [N. Y. Eve. Post and Com. Adv.] . IE? Compris ing the original 'village lots no. 3 and 4. 1 15 17 27 28 31 37 47 49 67 82 90 90 From tki Augusta ((Jta ) Cim?lihdunutlut. CONViCMTlOH OF MKUl'MANTS. Wednesday, Oct. 18, 1837. Tho convention mot pursuant to adjourn mcnt, and was called to order at 12 o'clock by tho chairman. The President called on the Select Com mittee for their report, whereupon the Hon. George McDuffie, the chairman, rose and read in a clear and impressivo manner the fol lowing report and resolutions. The Select Committee raised for the pur pose of ascertaining and reporting, what mea sures will, in their opinion most effectually contribute to the accomplishment of the great object of this convention, ask leave to submit the following: REPORT. The Committee are deeply interested with the importance of the duty assigned them, and have bestowed upon it all their limited time would permit. They regard the present derangement of the currency and exchanges of the country, how ever, we may deprecate its cause and deplore its immediate effects, as furnishing an occa sion, which, if wisely improved, will relieve the staple-growing States from a state of commercial dependence, scarcely less re proachful to their industry and enterprise, than it is incompatible with their substantial prosperity. Tho staple-growing States, while they pro duce two-thirds of the domestic exports of the United States, import scarcely one-tenth of the foreign merchandize which is received in exchange for it. Almost the whole of tho foreign commerce which is founded upon the productions of our industry, is carried on by the citizens of other States, causing their cities to flourish, while our's have been sink ing into decay. In the opinion of tho Committee, the period has arrived, when our citrzens are invoked by the united voice of interest and patriotism to put an end to this voluntary tribute, amount ing asnually to something like ten millions of dollars. It is believed that the quota of Geor gia and South Carolina alone amounts to not less than three millions of dollars. It may not be disguised, however, that this extraor dinary and unequal state of our commercial relations, had its origin, more in the fiscal operations of the Federal Government than in any supposed deficiency in the industry and enterprize of our citizens. The high duties imposed by the tariff of 1816 upon the pro ductions of Southern industry, and the still more enormous duties imposed by those of 1824 and 1828, combined with the unequal system of depositing and disbursing the reve nue thus collected, almost exclusively in the Northern cities, operated as a bounty to the commerce of those cities, which the most persevering industry ami enterprize on our part, could not have overcome. Great and obvious as were the natural advantages of our Southern cities, they were more than counter balanced by these operations of the Govern ment. And whilst we stood amidst the ruins thus produced by misgovernment, many of our own citizens were utterly unable to account for the phenomenon, and some of our charita ble neighbors supposed it to be owing to the curse of heaven upon our domestic institu tions. Every practical man, however, will at once perceive that the deposit of almost the whole of the Government funds, in the banks of the Northern cities, was equivalent to a loan of a like sum without interest, and that the im mense sums disbursed by the Government at the same points, operated even more decid edly to give those cities an undue ascenden cy. One of the most obvious and salutary consequences which we may confidently anti cipate from the reduction of the duties and the withdrawal of the Government deposits from the banks, will be the restoration of the Southern cities to a condition of comparative equality in tho business of foreign commerce. In a fair and equal competition, it cannot be doubted; that they will be able to exchange our domestic productions for the manufactures of Europe, by a direct trade, more advantage ously, than the Northern cities can do it, by a circuitous process, involving intermediate transfers and agencies, all increasing the risk and expense of tho operation. The staple-gn.wir.g States never can be practically independent and enj< y the full measure of the bounties which Providence has so abundantly provided for them, until the commerce which is founded upon their valuable productions shall be carried on by our own merchants, permanently resident amongst us, whether they be native or adopt ed. The pursuits of commerce must be li beralised, the commercial class must be ele vated in public opinion to the rank in society which properly belongs to it. The avocation of the merchant requires as much talent and is of as much dignity and usefulness as any other pursuit or profession; and the senseless prejudice which would assign to it an inferior rank, has been blindly borrowed from those ancient republics and modern despotisms, whose policy it was to regard war as the only honorable pursuit. As agricultural pro ductions, which find their market principally in foreign countries, constitute the almost ex clusive source of our wealth, the mercantile is as indispensable to our prosperity as the agricultural. Their interests are inseparably identified, and whatever affects the prosperity of the one, must have a corresponding influ ence on the other. How much, then, does the general welfare of tho staple-growing States depend upon diverting into the pursuits of commerce, a large portion of the capital, tho character and the talent, which have been hitherto directed too exclusively to agricul ture and the learned professions ? It is the deliberate opinion of the committee that no one chango could be made in our pursuits, that would so largely contribute to the public prosperity ; and that those public spirited citi zens who shall take the lead in this new ca reer of useful enterprise, w ill deservo to be regarded as public benefactors. The prevailing habit of investigating al most the whole proceeds of our cotton crops in land and negroes, has produced a constant tendency to over-production in this great sta ple ; and nothing but tho extraordinary in crease of its consumption in the great mar-, kets of the world, has prevented us from ex periencing the rutnous consequences of our mistaken policy. In this view of the subject every dollar that shall be diverted from the production of cotton, to some other profitable I pursuit, will be so much clear gain to the planter and to the country. It is a well established principle in politi cal economy, that an excess of supply beyond the efficient demand, diminishes the price of an article more than in proportion to the ex ctss, und that a deficiency of supply increas es the price in a corresponding degree. For example, it is believed that if the present cot ton crop of the United States should be only 1,200,000 bales, it would produce a larger aKgregate sutn to the planters, than if it should prove to be 1,500,000 bales, the price hring more enhanced than the quantity would be diminished. It was upon this principle that the Dutch East India Company, actually burnt one hall their spices, that they might obtain more for the remaining half than they could have obtained for the whole. Let us pursue a still wiser policy. Instead of burning our surplus, let us direct the capital and industry that produce it, to other profitable pursuits, which will open new sources of wealth, and at the same time increase the value of those already in existence. In connection with this view of the subject, the policy of raising every supply which the ?oii will produce" cannot be too strongly recommended. By whatever specious reasons a contrary policy may be countenanced, experience proves them to^ be fallacious. If every planter would raise his own supplies of the various produc tions of the soil and of the animals which feed upon those productions, it would tend greatly to limit the excessive production of our great staples, and increase at the same time the independence and the income of the agricultural class. The committee will now proceed to exa mine a little in detail, the relative advantages of the Southern cities for the business of fo reign importation, compared with those of the Northern cities. In the first place, house rent is much higher in the latter than in the former, a very important element in the cal culation. In the second place, freight is ha bitually higher from Europe to the Northern than to the Southern cities, for the same rea son that ships coming to the South for cotton, would have to come in balast if they were not freighted with merchandise. All other elements that constitute the cost of importa tion, are believed to be as cheap in the South ern as the Northern cities. It is thus demon strable that foreign merchandise can be actu ally imported and sold in the former at cheap er rates than in the latter places. When to this we add the expenses of transhipment at New York or Philadelphia, the loss of inte rest, the freight and insurance to the South ern cities, the expenses of landing and storing there, it will be apparent that the merchants of tho South and South-West, will find it greatly to their advantage, to make their pur chases of foreign merchandise in our own cities, in preference to New York or Phila delphia. The same course of reasoning will show that our cotton can be exported directly from our own seaports, with similar advan tages over the more circuitous route of tho Northern cities. It seems, therefore, perfectly clear to the committee, that our capitalists who shall enter into the business of importing foreign mer chandise, cannot fail to realize ample profits, and yet supply the merchants of the interior oh terms more advantageous than they ci n obtain from the Northern importers. They have every natural advantage in the competi tion, and are invited by every moiive, public and private, to embark in the business and reap the rich harvest that lies before them. It cannot be doubted that the merchants of the interior will give them a preference, since, to the motives of interest, those of patriotism will be superadded. Among the measures which will most ef fectually promote the great object which has brought this Convention together, none are more prominent, in the estimation of the com mittee, than the completion of the great works of internal improvement, by which the southern Atlantic cities arc to be connected with the valley of the Mississippi. In aid of the indi vidual capital and enterprise engaged in these works, it is believed that the patronag) of the States interested, might be wisely and bene ficially bestowed. Their completion would greatly promote the system of direct importa tions through our own seaports; and these importations would equally promote the com pletion of the works in question. They are parts of one great system, and will mutually sustain each other. If Georgia and South Carolina, with that harmony and concert of action which the inseparable identity of their interest so strongly recommends, would bring their individual energies and resources to the completion of those lines of communication connecting their Atlantic cities with the navi gable waters of the West, tho day would not be distant when our most ardent hopes and sanguine anticipations would bo realized. The committee beg leave to suggest to the Convention, another measure, which, in their opinion, would be eminently conducive to the great object we have in view. One of the obstacles in the way of establishing a system of direct importations, is the want of the re quisite capital applicable to that object. The country, it is believed, contains a sufficiency ? of capital, if motives be presented to give it a proper direction. To effect this, the commit tee can suggest no measure, which in their opinion would bo so effectual, as a law limit ing the responsibity of copartners to the sums which they shall put into the copartnership. A large portion of tho capital to which we must look for carrying on the business of direct importations, is in the hands of planters, and men of fortuhe who have retired from business, who would bo willing to put a por tion ol their surplus capital into importing copartnerships under the management of men of character and capacity, he would never consent to make their whole fortunes respon sible for the success of the undertaking. If they actually contribute a certain amount of capital, and the public is apprized that their responsibility extends no further, it is obvious that tho credit of tho concern will rest upon the substantial foundation of the capital paid in. Nothing can bo more fair as it regards tho public, and nothing would so effectually direct the capital and enterprise of our citizens 1 into channels where it is so much wanted. I he committee think it would be expedient to memorialize the Legislature of the southern and south-western Slates on this subject, and recommend to the Convention the appoint ment of committees for that purpose. Another measure which would greatly facilitate tbo establishment of a system of direct importations, would bo the formation of a connection and correspondence between some of our banks and some pf those in England, by which each should have a standing credit with the other. This would enable the banks here to furnish merchants who might wish to purchase goods in England with letters of credit, upon receiving adequate security. The bearer ol such a letter would have to pay interest only from the time he actually drew the money to pay for his purchases. This would prevent the loss of interest wliich he would incur it compelled to provide himself with money before be set out on his adventure. Cotton purchasers from England would derive the same benefit by obtaining similar letters, from the banks there, upon those of our banks, with which they should havo an established credit. If in addition to these facilities, our banks would establish agencies in Europe, and ad vance a limited amount, upon Cotton con signed to them, it would greatly contribute to accomplish our great object, by enabling our citizens to export their own cotton, as well as to import their own merchandize, without the intervention of any Northern agency. In concluding their report, the Committee cannot but express their strong conviction, that the success of this great movement to wards the emancipation of the great staple growing States from their commercinl tram mels, will depend more upon individual enter prise, sustained and supported by an enlight ened public opinion, than upon any measures of legislation, however important these may be. The business of direct importations must be commenced at once ; for if the pre sent occasion is permitted to pass awav un improved, one equally propitious may never occur. The Committee recommend the Con vention to adopt the following resolutions, in furtherance of the views expressed in the fore going report : 1. Resolved, That in the opinion of this Convention, the present juncture in our commercial affairs is eminently propitious for the establishment of a system of direct im portations, through our Southern and South western cities, and that we are called upon by every consideration of interest and of patriotism, to throw off the degrading shackles of our commercial dependence. 2. Resolved, That with a view to induce public spirited capitalists to embark in this business, the people of the staple-growing States be recommended to give public mani festations of their determination to encourage and sustain importations through their own seaports. 3. Resolved, That two Committees be ap pointed by the President of the Convention, to memorialize respectively, the legislatures of Georgia and South Carolina, on the sub ject of limited copartnerships. 4. Resolved, That a Committee be ap pointed to prepare an address to the people of tho Southern and South-western States, setting forth the advantages and practicability of carrying on a direct trade with foreign nations?exhibiting in detail the extent of their resources. 5. Resolved, That said Committee, in preparing such address, embody and conform to the views of the Convention as expressed in the Preamble and Resolutions adopted. On motion the Report and Resolutions were ordered to be read separately. The secretary then repd the first resolution. As soon as he had finished, Gen. McDuffie rose, and spoke in favor of the resolution and the objects of the Convention. He was followed by Joseph Cumming. Esq., of Sa vannah ; Seaborn Jones, Esq., of Columbus ; and Mr. Chappell, ol Macon, all of whom spoke -at length on the benefits which the meeting of this convention was likely to pro duce to the Southern States, if the citizens thereof would only take the subject matter into serious consideration, and lay hold of it with hand and heart. Alter Mr. Chappell had finished speaking, Mr. VVm. Dearing, of Athens, then rose and moved that tho convention take a recess until lour o'clock, which on being put to the vote? was lost. The question on the adoption of the first resolution, was then put and carried unani mously. The second resolution was then read by the secretary and was adopted without debate as was also the third. The fourth resolution was then read, but before the question was taken, Mr. Seaborn Jones rose and stated to the convention that lie had a resolution which he wished to offer to the convention, and that if approved of, should precede the resolution just read ; he then read the following resolution. Resolved, That it is a sacred duty which the citizens of the Southern and South-western States owe to themselves, their posterity and their country, to give a decided preference in procuring their supplies, to our merchants who carry on a direct trade with foreign na tions. Joseph Cummings, of Savannah, opposed the resolution,?ho thought it was unnecessa ry and would do no good?merchants would buy whore they could procure their goods on the best terms; and that if tho South could not afford greater facilities ttyin the North, they would still resort to Northern markets. Hut he believed tho South could afford as great or greater inducements, and if she did, there was no need to appeal to the patriotism of its citizens, for l>oth patriotism and interest would induce them to trade with us. Mr. Jones then replied to the arguments of Mr. Cumming, and after some further remarks from Messrs. Jenkins, ol Augusta, King, ol Brunswick, and Alexander, of Charleston, | Mr. John Hones, of Augusta, offered as an amendment, that after the words " decided I preference," the following should be added? where the terms are equal?which amendment was received by Mr. Jones, and the resolution as amended, was put to the Convention and adopted. Mr. Seaborn Jones then rose and asked leave to add to the third resolution passed, an amendment, which he read. Mr. M'Duffie opposed tho motion, as did Mr. J. A. Cuth bert, of Milledgeville.?Mr. Jones spoke in favor of his motion, but after a few remarks from Mr. Parkman, of Savannah, he with drew his amendment. I he fourth and fifth resolution! were then read and adopted. Joseph Cuintiung, Esq , of Savannah, then rose, and after a few preparatory remark*, offered the following resolution, which was seconded bv Mr. Alexander, of Charleston. , Resolved, That this Convention recom mend to the citizens of the South and South western States to appoint delegates to meet in Convention at Augusta on the first Monday m April, 1838, to continue the interests and and objects of the Convention before the people. Mr. Alexander, of Charleston, rose and made a few remarks ; he was followed by ( ol. liayne, of Charleston, who spoke at length on the benefits to be derived by the adoption of the resolution?but the resolution being out of order, a call was made for the question on the adoption of the Keport and Resolutions offered by the Select Committee, which being put by the Chair, the Report and Resolutions of the Committee, with that ad ded by Mr. Jones, were adopted. Joseph Cununing, Esq., then offered his resolution, which was adopted. Mr. C. J. Jenkins, in behalf of the Augusta Delegation, offered the following resolution : Resolved, I hat as an introduction to a direct importing system at the South, it ia indispensably necessary that the crop of the present year should be directly exported by Southern Merchants and Planters, and to effect this object the Southern Ranking In stitutions should lend such aid &s they safely and conveniently can. Adopted. On motion of Mr. Cuthbert, of Georgia, tho Convention then adjourned sine die. Committee appointed under 3d Resolution : For South Carolina.. ALEXANDER BLACK, DAVID ALEXANDER, CHARLES J. SHANNON, JAMES ADGER, S. G. BARKLEY. For Georgia AUGUSTUS H. KENAN, ADAM JOHNSTON, LANCELOT JOHNSTON, BENJAMIN E. STILES, SEABORN JONES. Committee to prepare tho Address: GEORGE McDUFFIE, THOS. BUTLER KING, HENRY H. CUMMING, ABSOLOM IICHAPPELL. JAMES GADSON. From the Richmond Emjuirrr, 24th Oct. RBMIKI8CENCKS. 1816?1837. * ?? ? In 1815, 16, the banks were laboring under ? suspen sion of specio payments, as they are now?but at that period, they abused their situation ; went for great pro fits, and deluged the country with their paper. Indeed, it was not until the public indignation had risen to a height which could not be resisted, and the State Le gislatures had taken up the aubject with a high hand, and fixed a day, beyond which they could not be indulg ed?and Congress, too, had passed its resolution of '16, for designating the 20th February, 1817, ?? the day beyond which ihey would not receive their notes for the public dues, that the banks were compelled to take in sail, and prepare for the fulfilment of their char tered engagements. No such complaints, however, are fairly made against the banks at the present time. They have been curtailing their circulation, not expanding their discounts?and seriously preparing for a resump tion of specie payment. See, however, how very dif ferent is the course, which the Government pursued at that time and at this. 1. Congress passed a resolution, to receive their notes till thc20i(i February, 1817?No auch indulgence is extended to them at this time. 2. In February. 1815, a resolution was brought into the H. of It. by Mr. Shepherd of New York, "That a committee be appointed to inquire into the expediency of providing for the making a reasonable compensation to the members of both houses of Congress, for their travel to, from, and attendance thereof, respectively, and report by bill of otherwise, and that the committee embrace in such inquiry, the present session."?[Mr. Shepherd alledged, in explanation of his resolution, that the money in which they receivod their cotjipenaation had greatly dopreciated ] What became of the propo sition ! It was immediately rejected, by a vote of 99 to 8?and Mr. Hall of Ga. jocularly remarked, that if tho bank notes had depreciated, so also had their own ser vices.?But now, it is said, some of the members first receive specie, and then sell it at a premium. 3. Mr." Secretary Dallas, in his annual report to Con gress of the 3d December, 1816, expressed himself thua: " The successive attempts made by this department to relieve the administration *f the finances from its embarrassments, have been ineffectual. There was no magic in a mere Treasury instruction ta the collectors of the revenue, which could by its virtue, charm gold and silver into circulation. The people individually, did not possess a metallic medium, and could not be ex pected to procure it throughout the country, as well as in cities, by any exertion unaided by the banks. And the banks, too timid or too interested, declined everv overture to a co-operation for reinstating the lawful currency. In this state of things, the Treasury, nay, the legislature, remained passive. Tho power of co ercing the banks was limited to the rejection of their notes in the payment of dues and taxes, and to the exclusion of their agency ill the custody and distribu tion of the revenue; but tlw exercise of that power could not peiierate a en in currency, although it would certainly act oppressively upon the people, and put at hazard every sum of money which was due to the Go vernment. Until, therefore, a substitute wai proposed for the paper of the Bank, it would have been a measure of impolitic and useless severity towards the community to insist, that nil contributions to the ex|<enaea of the Governments should be paid in a medium which, it is repeated, the community did not possess and mnd comld not procure." But now, the cry is?away with Bank notes, and - give us specie?As Mr. Dallas called it in 1816, we inust insist upon this " measure of impolitic and useless severity towards the community." In February, 1817, tho State Banks did resume specie payments?With soino indulgence at thia time, they will soon do so again. From thr AVu> York Times. OUR OWN CONCERN8. The great falliifg-ofl" in the advertising business of our establishment can be seen from the fact that our charges for the quarter ending on the 1st July last, was $8,116 3*2?and those for the quarter ending on the 1st inst. but 93,!123 22. The Dusiness since that time has not improved, and there is no prospect of its doing so for some time to come. The ex penses of our establishment, including the News schooner, is nearly $10,000 a year, to meet which the advertisements form our principal resourse. Our Daily subscription list has held its ground, having diminished but 10 since the 1st July?and our country list has increased. The profit on the sub scriptions, however, is very small. 'Hie capital invested on starting the paper in 1H34 was ft 13,(KM), added to which the office owes some thin? like 91,000, making in all 914,000. A sum ab jtit equal to this is due to the establishment, and we hope, with the materials on hand, that we shall be enabled to save the capital originally embarked. Any persons to whom the office.is indebted will please present their bills for payment; and the usual tiromnt settlement is respectfully requested from our trienas. Omtcary.?Among tlie foreign death* noticed in yes terday's Commercial was that of a very distinguished lite rary character?Sir Keerton Brydgea. Descended from a long line of illustrious ancestors, of a kind and generous heart,of mild and unassuininii manners, all hough somewhat eccentric in many of hi* opiniens, and endowed with extra ordinary talent* and brilliant gemua, he has long occupied a pionuneiit station among the writer* of Knulahd, and his loss will unquestionably be much regretted by all who enjoyed the charm* of his society. The catalogue of hia works is long, and although not well adapted for populari-' ty, they are much esteemed by scholars. His autobiogra phy, published three or four years since, is a remarkable production, containing a vast ?mount of erudite and some what curious criticism. Sir Kgerton claimed a British peerage, and, although his claim was not established, he always advanced it a* an appendage to his signature, thus : " Kgerton Brydges per legem terrae Bsr>n Chan* dos of Sudely." Ilia literary |ier<br?Mnecs embraced al most evcrv form sml mode of composition, not excepting poetry. He was the author, among many metrical effu aiona, of one of the most perfect sonnets in the English lan guage. We obaerve, also, in the F.ngliah papers, a notice of the death of Kn.cv, author of a w?wk which waa very popular in ita dav, called "The Itinerant, or Memoirs of an Actor"?published some 15 year* ago, or thereabout He was 82 year* of age ?.V Y. Com. Adv.