The Madisonian. [volume], October 31, 1837, Image 2

About The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845

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THE WRECK OF THE PACKET HOME
Tk, lyUowieg aeiticukii* of k*in-nrkr#in|
disaster lure bee* furnished lo the New V ork Ex
press by Mr Raw Land, one of ihe fortunate few who
on l?*rd ? total stranger to evenr per
md ? thai the boat left the dock at about 5 o ck* ? ?
Saturday afternoon, with a light wind, rather cloudy,
and thai in going (?ut, after passing the Narrows,
the boat struckon the Romer, where she lay four or
fire hours. He understood the next morning that
the boat got off ab Hit 10 o'clock the previous night;
whether the boat received any injury while she lay
on the Romer, or not, h?* does not know.
The " Home" then ran out past Sandy Hook, and
cootinued her course during Sunday without any
thing happfniitt; worthy of nolice, lh? weiUicr w
ingine/At 10 P M the wind changed to the
northeast blew hard, and the boat labored much and
leaked some. On Monday morning made tlf
about twenty-three miles to the northward ol tape
Haueras, the sea very roagh. The boat was then
put off shore, and she ran out to sea for the purpose
of geuing round the Cane, and sheltering under the
lee in smooth water, one stood to sea until *2 P. M
All hands during the time were at the pumps, and
all the poweogers, women included, were bailing
with buckets, mils, pan.*, Ow- the leak, however, in
creasing rapidly. ...
It was then calculated that they had passed the ,
outer Cape of Iiatteras, and the boat was turned to
shore to beach her, tor the preservation of all on
board. The sails were set, and wind on shore, but
the engine was working very slowly, and the boat
was settling fast. With everv possible exertion the
water gained constantly. I1!'* bo*1 worked and
bent like a reed. The bows would work up aud
down three or four feet, and those best acquainted
with her expected that she would break in two even'
moment, that she would go down, and all on board
would perish.
During the whole of this lime the passengers cut
the blankets into slips, f.T the nurpt*e of lashing
themselves to spars, aud to whatever else there
might be in the way. Notwithstanding, the men
working with pieces of cords aud blankets around
their bodies, the leak increased, and the boat was
settling fast, yet the women as well as the men kept
on bailing, with faint hope of ultimate safety. All
labored like heroes and rational beings, and no
consternation or unnecessary alarm was manifested.
At 6 P. M. the water reached the engine, to the
alarm of all, and extinguished the fire?, when of
course the machinery stopped. The boat was still
out of sight of land, but was running with satl>?
the gale severe, and she U-boring dreadfully. The
greatest efforts were all the time made, by b-iilinsr,
Ac. and all were actively engaged until 10 P M
when the boat struck about a quarter ol a mile Irom,
but in sight of, the outer breakers.
In an instant after the strike all was utter confu
sion and alarm ; men, women, and children scream
ing in the roost agonizing manner. The scene was
most heart-rending; women clinging to their hus
bands, children to their mothers, and death, almost
certain death, before them. It was apparent that
the boat could hold together but a few moments, and
that few, very few, could under any circumstances
be saved. Tfie wind blew a gale?the sea was high,
and there were only three b )ats, and one of them
had been staved.
All were engaged in efforts to save their live*?
some lashing themselves to spars on board, vnd
others making what struggle they could. Our in
formant made his calculation that his only chance
was in swimming ashore, and he according threw
off all his clothes but his shirt and pantaloons, and
before any had left the wreck threw himself into the
water. He found the sea so high that he coidd with
difficulty encounter it, and on reaching the surl he
came near perishing. He, however, landed in safe
ty, though the current took him about a mile and a
half to the southward of the wreck.
On reaching the shore Mr. Rowland found all
manner of pieces thrown up, from which it was evi
dent that the boat had broken up. One man he pulled
out of the surf.
The boat fortunately had a high forecastle, on
which a number of the crew and passengers had
collected. This parted entirely,"anrl all, or nearly
all, on it, some eight or ten persons at least, went
ashore and were saved-r-Captain White among the
number.
The boat, almost immediately on striking, went
to pieces. Her keel and kelson both dtifted ashore
about a mile from the wreck. About twenty bodies
were {found, men and women?among them an in
fant and the chief male. The shore, for some miles
to the southward, was covered with fragments. The
boilers of the boat were to be seen, but every vestige
of the vessel had parted fr< m them.
Of the three small boats belonging to the Home,
one was staved by the violence of the gale as she
hung in the davits, one other filled alongside, and
the other was cast off with a number of passengers
in her, but she upset in the surf, and only one person
was saved. One of the stewards swam safe ashore
naked, but he nearly perished aftewards with cold.
The scene the next morning was too horrid to de
scribe, the boiler being the only unbroken relic of
what was the beautiful packet Home. The shore
was lined with bodies constantly coining up. All
hands were engaged in collecting them together.
The survivors, in groups, were nearly naked, and
famished and exhausted. The few inhabitants ap
peared friendly, but the mr.ny trunks that came on
shore were empty.
Mrs. La Coste, the aged lady that was saved, is
about 70. She is very fleshy, and almost helpless.
She was found in the surf, but how she got there
neither herself nor any other person could give any
account. Mr. Hussey, who was saved, lashed his
wife to a spar, but sfie was forced off by a sea and
lost. Mr. H. afterwards lashed himself to a spar
and reached the shore. It is the opinion of our in
formant that a large portion of the passengers were
lost together soon after she struck, when the boat se
parated. All the children on board were lost, ex
cept one lad about 12 years t Id.
Mr. Vanderxer was not the person saved by the
life-preserver, but saved himsell bv swimming, and
was nearly drowned before he reached the land, in
encountering a portion of the wreck of considerable
length, which he was obliged to climb over. Mr. H.
Anderson was the gentleman who wore the life-pre
server, and was doubles* entirely indebted to it for
his preservation, as he was utterly unable to swim.
It was fixed underneath his arms, and every sea that
struck hioa, whirled him over once or twice, but he
invariably came " heads up," and is, fortunately, a
living evidence of the usefulness of this invaluable
invention, with which every person who goes to sea
should provide themselves.
Mr. Lovegreen was on the upper deck, and tolled
the bell of the boat until aliuos; every one had left
her, when he sprang off and swam to the land.?
Charleston Courier.
Mr. Howard, who resides in North Carolina, near
the spot where Ihe wrock of the Home drifted
ashore, paid every attention to the survivors, and to
the bodies of the deceased passengers that floated
ashore.
We had an opportunity yesterday of conversing
with a gent etnan fruiu Charleston, who described
in a most affecting mariner the scene on board the
Philadelphia boat Charleston, ou her way t.outli, du
ring the late gaie. All hope of safety was gone.
Such wastthe severity of the tempc-', that it was de
terrnined to run the boat aslivre, bui she was found
unmanageable. Thesceue was near Cape Lookout,
and fortunately in the attempt to run her ashore, the
boat was protected in some measure from the waves
by au intervening strip of land, and ihe anchors were
let go in 1*2 fatnoms water. All b.:licved that the
boat would go to niece* as soon as she struck, and
the passengers, male and female, secured themselves
with ropes to the different parts uf the vessel, to pre
vent being washed away, and to save themselves by
floating on a fragrant of the wreck. One gentleman
on board, a Southern planter, bade adieu to his son,
and father and sou immediately went to work in
bailing the vessel, each passiug ih?- oilier frequently,
but neither exchanging a look ol salutation, until tlie
storm had passed, ami all was sab.'.?Sorjolk Bea
con.
Among the passengers, whose lives were loit by tho
wreck of the steam pocket Home, was the Hon. Oi.ivkr
H Princk, formerly a U. S. Senator ?r?m Georgia,
with his Udy and servant They had recently passed
some time in this eity, and were spending the summer
?t the North in superintending the publication of sn
edition of the laws of (icorpta, in Beaton. He was a
gentleman highly esteemed for his virtues, wit, talents,
?nd learning. Many of our readers have often perused,
with delight, a most humourous production from his
pen, entitled, " A Georgia Training," which has often
been republished in this part ef the cs in try?Salem
(Man.) Otzelle.
JL.OS8 OF SHIP HOPE. !
We copy below, from the Boston Daily Advertiser,
some particulars in relation to the loss of th? Hope,
East indiatnan, Capt. Norman. In addition to the
statements there made, we learn that the ship was
freighted with 815 tons of goods, consisting of teas,
silks, aud other products ol tho East, consigned to
Messrs. Rogers & Co of this city, and John McCrei
of Philadelphia, and valued ?t #"200,000 Tlu* v*lu?
b e cargo. we ere happy ^ ?*?*", ?? '??% ui?ure<i?"bout
S 73.000 in I bit city, $42,000 in lioeUMi, and U>e
residue in Philadelphia '
From the account* received, il ?ppw" l'u* l"e "
and part of llie lea* were saved
'I"be owner. b?v? not, aa yet, receive* #ny *<l?V
fioin the u|iUin ?."T. Y- riai AJttTtittr.
Sk.p Hope ? Wo have been frvored wit 'He par
ticular* of lh? lost of the ?hip Hope, Nor roan. master,
of Philadelphia, off the Cape of Good Ho;* Jul* JO
It appear* the Hope left Whamptm, on the ~5ih April,
and proceeded prosperously on ber voyage uoul ilw
28th July, wben she encountered a heavy gale id lat.
14 10 S. long. 26 26 E Ou tbe morning of the 28th
?lie wai found to bo leaking ao badly that It waa thought
necessary to hout a aignal of diatieaa to aii hnglraii
barque, then ui Mght, which proved u? be the l)uke "f
Doxbuigh, C'apt DiMington, who kindly deuchcd four
of Ina crew to assist at the pump* pti board the Hope, lu
adJition to whom aeveral gentlemen passengers volun
teered their aer*.cea. . .
According lo an arrangement which Oapt Disaing
lon obligingly entered into, both vessels kept near to
getlier during tl*c night At 6 A. M. the following
morning, it was ascertained that the leak gained ?o rs
pidly on the Hop#, that it was thought best to transfer
the moat valuable part of the Hope*, cargo on Inwrd the
British vessel, ('apt. N succeeded in saving the
greater part of the silks and some oilier snides on boaru
At 3 P. M there wis 12 feet of water in the hold, and
the wind increased to a. strong g?le, ao that the
coolu no longer ply from one vessel to the other I no
olRcer* and crew of the Hope, then abandoned her
to her fate, and proceeded iu the barque to St. Helena.
FOB Tin: M-iUlfcONUN.
NO X.
I must take it for granted, though the subject it not
half exhausted, that this writer ha? already urged enough
i by way of argument and authority, m contesting ob
! lection*, to show that the Stale Banks ought to, and
must be. greatlv reduced in number, and considerably,
' if not iiroportiotiably, enlarged in sue JYW. it strike*
me, ia the exact point of time for State legislation to
i begin the execution of that wholesome work, rewer
; hinderanees may never be reasonably expected to exia',
at any future period. The policy of multiplying the
bank*, at all tnnea qucationed by many ctlizena and
j legislators, and by thein resisted with bad success, has
I long maintained dominion over the council* of the
State*. From 330 in number, in the year 1830, with
an estimated capital of 145 millions, they had increased
to more than 800, in 1836, with an authorized capital
of more than 378 inilliona. In most of the State*, no
man, not possessed of .wore than ordinary intelligence,
know* the name* of the bank* in the distant parta of
the State in which he lives ; and no man, actively and
extensively engaged in trade, know* the name* or is
familiar with the issues of many of the banks in other
Sute*, with which H would be most couvement fur
othera, all tb.ngs else inviting it, to cany on business
with him. Owing to tbis>aiit of knowledge, which is
invincible, while there are *o many banks, the business
of exchange cannot l>e carried on through the medium
of currency, even while the banks are paying specie for
their notes It is this want of knowledge that confines
the note* of specie paving State Bank* to a very limited
?pherc. The notes of the bauk* of New York, while
paying specie for them, have scarcely ever circulated at
all in Virginia, and never in such ainouut as to enable
the merchant tocollcct and return them, and thus effect
exchange through the medium of currency,* as was
done with the notes of the late United State* Banlf,
which circulated freely jn all sections of the country,
and not because they were more toltily entitled to cre
dit than the notes of the State Banks, but because the
citizens of the State* were mote familiar with them
than with the notes of the banks of distant State* It
IS this want of knowledge, invincible while there are so
many State Banks, that will everlastingly confine their
notes to a very narrow circulation, even while the bank*
that issued them, pay specie for them. Deriving spe
cie, as is now the case, their usefulness within the
limited sphere of the people's familiarity with them, is
greatly lessened Indeed, the specie in. their vaults, is
lost the while to the holders of stock which yields no
dividend. It is totally abstracted from all uses ani
mating to trade. Let u* escape, by degrees, from its
consignment lo idleness. It will soon find new invest
ment, convenient to the community, profitable to its
owner*,.enlivening commerce.
The just sanctity of conlrael* form* no hindcrance to
the reduction of the number of the Stale Banks, at a
period short of that to which their existence may he
limited by their charters. The fundamental condition,
either expressed or implied, on which the legislature* of
the State* have granted the*e acts of incorporation, is,
that the palter issues shall, on demand, be redeemed
with specie. (The,privilege, as it is in wine cases, to
suspend payment for sixty or ninety days, does not at all
aifeel the principle. When the specified time expires,
the privilege ceases ) Having slopped payment, the
banks have failed to fulfil their part of the contract.?
Will it be pretended that they may still enjov all the
benefit* conferred by the act of incorporation, submit
ting to none of its mam provisions for the benefit of the
community at large? This would be to aim a deadly
blow at the elemental ?tructurc of all contracts These
batiks, by stopping specie payments, have failed to do
their cor|iorate duty. By tin* failure they have become
liable. It is competent to the law-giving power of a
tovertign State to direct the judicial authority, " to try
whether said banks have forfeited their franchise of
longer being corporation*, as well as their other fran
chises and liberties " To say that the commonwealth
cannot prosecute in such a case, because she is a stock
holder, would be to say to the banks that they may do
what they please, and yet not forfeit their charters, or
their privileges. Such a doctrine cannot consist with
the liberty of the citizens, nor with the essential attri
butes of just turerttgn power?just to the citizens
who pay allegiance to its laws.
I cannot consent in this age of enlightened freedom
and benignant laws, to undertake in a formal manner to
vindicate these views. If the main proposition to re
duce the number of the State Banks in their respective
States, shall he favorably received, it will not be at nil
difficult for those who are acquainted with tbe adminis
trative authority, to adapt the execution of the policy of
reduction to the circumstances of each State. How it
may (probably) be bfst done iu Wrpima, I have at
tempted to indicate in the following letter, which wai
| published in tbe Richmond Enquirer:
In reviewing the proceedings of the called session of
the General Assembly just terminated, the object of
which was to devise and minister measures of relief to
the community and the banks, from the disorders of
over-trading produced by over-banking iu this and other
States, the patriotic and just inan, whilst perceiving in
the them per of that Assembly much to approve and ap
i plaud, cannot fail to discover in some of Us " Acts,"
I matter for condemnation. Regarding the proceedings
| as a whole. 1 think the constituent body will concur with
i inc in the declaration, that the Assembly might, with
j great propriety, have blended with their clemency to
wards the banks, a little more inlenseness of regard for
the rights of the people, under their constitutions and
laws. To conquer and correct this untoward temper of
excessive clemency towards the banks, on the part of
their representatives, let the people forewarn and im
I ress upon them, that there is a numerous class of men,
to whoin the vicious order of things, in the present
banking system, lends an undue ascendancy, and who
arc busy in divers wave and with trim devices, to just fy
such a state of society to the eye of reason, who, were
they required to cast anew the lot* assigning them a
place m society, would strenuously condemn the very
order of tilings from which thry now derive exclusive
advantage. On the othei hand, let the people forewarn
and itnprbss Upon their representatives, that there is a
numerous class of men, who, in the attempts of the
legislative po.ver. of the State to rectify the existing
vicious order of things, wiil be clamorous and eager,
under various and specious pretences of promoting the
general welfare, to have other laws passed and other
institutions established, which will confcr on others than
the now favored class, advantages unequal and detri
mental to the rest of the community. In a word, let the
people impress it upon their representatives, that, what
ever course of legislation they attempt, the public good
and equality of lights should be the gateway by which
they should strive to enter,, and the polar star at which
they should aim, in restoring, or rather, in securing, a
sound currency. To be more particular, let the people
forewarn and impress it upon their representatives, that
in their attempts to correct the banking system ol the
Stale, " a reform cannot be accomplished, as some sup
pose it may, l?v granting charters to all who apply for
them. It would be as rational to attempt to abolish a
political aristocracy by multiplying the number of no
bles. The one experiment has been tried in Germany,"
the other in nearly every one of the United States of
North America.
In review ing those proceedings; four important topic*
arrest the alleution. To two of thein, I purpose to ad
vert briefly iu praiso : the other two, I thiuk, o^ght not
to hud favor with the constituent bod/ :
?See Mr WthtUr't speech, in the Senate, Septem
ber 28, 1837.
1. ! rtfcr, Aral, to the r?(uul of the Assembly to
?uiliufiM the (Miik* or other rorpoiate bodies iu iuut
ho e1. '1'Im omi?*.ou of en of irthrt* mora ctrd t
?ti the called lemon, tlua nibr w tlluf it* mu IV
?dvoca'r* of the uieMHir. froas lite UvguMiog to ike
doee of lb* mmioo, w?i< loMtJ shout at ill adveo
Uirea, and ever and anoo, ??*? aeeu to cMrji lo ike
verge of tempting the hatards of deafKrattou Al length,
but not before ?|T expedients bad been put in play, itte
close of tne session sealed tbe triumph of lite spirit of
Democracy. Bui it may Ihj, I an* too faat Could tbe
?pint of reatatanc* to the measure in tbe Berute, have
been otercotue bf loud and strong entreaty ! May be
not Any how, the measure was defeated, and let the
i House have the credit.
It is uuitectsaarv more particularly lo refer to the
effect* of creating a small paper circulating medium,
| tbau may be clearly perceived ill the opinion of a!l
writers nu political economy, which is confirmed by all
j ripeiiruee. tbat no prohibition* can prevent real inon-y
| departing from couulr.cs or town* ni which wealth ai.d
, trade arc declining ; and no obstacle, except spw urns
i money, can prevent itsvfinding its way into cotiuirxs
and towns an * inch wrsltii and trade are incrcasit.g
it has been justly remarked of Virginia, that she has
i tbe bo'tor of lieing the tint State that took effectual
j measures towards reforming lite currency. This she
did ill 1820, bv passing the act to prevent the circula
tion of notes of a leas denomination than live dollars.
I Her hanking operations have never been less regular
I than those of the M:ddle States ; and, (continues tne
I writer, j she will proitahly tie one of the that 10 establish
a perfectly sound system of credit and currency. And
I what is there, 1 wish to know, in the existing state of
things, that can justify us in receding from that policy f
i At best, the introduction of small notes, at this lime,
| could only serve to put off the incouvenu-ucc resulting
i from the temporary scarcity of specie till some future
'. day not far distaut; unless, unlet d, the design is lo re
1 trograde permanently from the salutary measure of 1820 ,
1 for. it a small note circulation were allowed for a limited
I period, on calling them in, the want of change would be
' more " seriously felt." lie lore tbe small notci, ?lie
real change would vanish, and toon l>e entirely exptlled ;
and at the expiration of the limited |ieriod, the small
. notes l>eing withdrawn from ciiculaiion, we shall have
i no change at all, uutil s|>rcie shall have found its way
; back lo the demands of retail trade, as it will now soon
i do, if not entirely expelled and kept <jf by po; cr money
of a less denomination than five dollars.
In the defeat of the late attempt to introduce small
notes, I cannot but *ym|ialhute with the merchant*,
though I deeply ablior the measure. Though the hue
and solid interest of the people of the towns, and that
of tho people of the counties, is not at all variant, yet
the former are subjected to greater inconvenience from
the want of change on the account of the far exceeding
multiplicity of their small transaction*. Out will not tbe
retsll trsders of the towns lie quiesccnt and endure the
inconvenience they arc now subjected to, rather than
have small notes, to be called in at the expiration of m
or twelve months, having first entirely expelled the c tr
rent coins now remaining in tlie minor channels of cir
culation, and be theu subjected to the same inconve
nience to a greater extentIt seems lo tne that this
plain view of the subject appeals alike to their good
aense and patriotism.
2. I refer next,, under one head, to the Relief bill and
the Slay late. I shall only notice those part* of these
laws which I think will incur the reprehension of the
constituent body, to wit:
1IKLILK BILL. STAY Law.
"I. He il enacted by tin "Re it enacted by the
Ventral Assembly, That so General Assembly, That no
much of all or anv acts as execution or distress of any
now do or hereafter may (kind shall be levied, nor
subject any bank or banking
company incorporated by
the laws of this Common
sale made under any de
cree or order of any court,
unless the parly or parties,
wealth, now m operation,!his, her or their agent, at
for failing or refusing lo re- torney or representative,
deem its notes in specie, to! for whose benefit the tno
ihe payment of'any da-jneyis about to he made,
mages, or any higher rate ofjshall authorize the officer
interest than six per cent j or other person levying
per annum upon any note,'such execution or distress,
shall be, and the same arejor making such a sale, to
hereby, suspended until the receive payment of the
first day of March, eightccn'dcbt, interest and costs, iri
. .. I . r . i? i 1..
hundred and thirty-eight."
the notes of the banks of
this Commonwealth, that
may be at the time of surh
payment, receivable for
tsxes or oihcr public
dues."
It is obvious to every one acq.tainted with the prin
ciple of the Supreme Court of tlio United States, in
the cases of Sturges ts. Crownnishield and Ogden rs.
Saunders, (4 and 12 Wheat. Kep ,) that those enact
ments of Ihe called session are unconstitutional and of
no effect. The prohibition, 1 art , 10 sec. of the Uni
ted States' Constitution leaves each of tho States in
the enjoyment of unrestricted freedom to legislate on
the subject of all future contracts, and to assign to them
no obligation, or such qualified obligation, as may, in
it* opinion, consist with sound |>olicy, and the good of
the people; but it forbids the legislative authority to
retroact, under any pretext whatever, upon the,obligation
of existing contracts. " Whether the law (ret road tug)
professes to apply to the contract itself," MVs one of
the Judge*, "or to fix a rule of evidence or of iRtcrtire
? . ithiu
tation, or to regulate the remedy, it is equally w
the true meaning of the Constitution. ' '1 lie obligt
a/io/i
of the contract can only be discharged hy a compliance
with whatever the law existing when the contract was
made, required in relation to the validity, construction
and enforcement of the contract, and any law rctroactmg
on the contract impairs Us obligation, and overrides the
policy of the prohibition referred to. As Chief Justice
'Marshallsays : "Thething foibidden is retroaction."?
The application to the laws in question* is easy ; and
the unconstitutionality of each, ts manifest. .
But why were those parts of these laws enacted !?
No reliance can be had for cither, on that arch-enchant
er, necessity. On the subject of damages from tho
bai ks, the holders of notes were perfectly quiescent,
and, on account of the public good, were likely to re
! inaiu so. That part of the relief bill which enacts
1 "That the notes of the several banks which have been
heretofore required to be received in payment of taxes
and debts due to the Commonwealth, shall continue t<?
be so received," was sufficient, without the snper-addi- i
tion of the slay law, lo induce ninety-nine of a hundred
creditors to. receive in satisfaction and acquittance, of
" executions, trust deed", or other demands," the notes
! of such banks. The parts of the laws referred to are
as unnecessary as they are inexpedient, and nugatory
under the Count.union. They are baleful blemishes on
the legislative annals of the State.
3. Uut there is one of tho important topics to which
I referred in the onset, on which the patriot may look
with delight. Here it is :
" Be U. further enacted, That so much of the provi
sions of the act entitled ' An act increasing the hanking
capital of the Commonwealth,' passed March 25th 1837,
as relates to the Bank of Virginia,'the Farmer's Hank
of Virginia, and the Bank of the Valley in Virginia, and
their several branches, be and the same is hereby sus
pended until the first day of March, 1838."
The hank "act" of the last .regular session of the
General Assembly having been thus suspended, ut least
for the sake of mature consideration, and I trust for tliu
ultimate purpose of depriving tho old banks of all op
portunity, by accepting the provisions of the same, of
securing an extension of their charters till 1857, it will
be necessary for the next Assembly, in prosecuting this
pur|>ose, to declare by appropriate action, that the Farm
ers' Bank and the Bank of the Valley in Virginia havo
no longer, of right, the power under their charters to
exercise the functions and privileges their, charier* con
ferred on them. Thus first declaring that their corpo
rate powers, in view of their denial of specie for their
notes, mav, of right, be revoked and made void, it will
become necessary, for the further purpose of prevent
ing the ruinous eiubarassinent lo which a large portion
of the community would be subjected by forcing thoso
banks, or either of them to wind iiji suddenly?it will
become necessary, or at least, expedient and proper,
that the Legislature prescribe the conditions upon which
those banks may proceed to reduce their transaction*
by decrees and with moderation, so as lo bring thein
to a closo during the year 1812. Tin) occurs to me
as being a fit course of legislation by which those bjuks
may be cut oil'from accepting the conditions of the law
of the last regular session, (which is now suspended
only till ihe 1st of March 18:18.) and from thereby se
curing an extension of their charters ; while at the same
tune, the prudenlially granted |in\dege of winding up
by a graduated reduction of their transactions, their
notes being made receivable in payment of public dues
the while, will lie no less consonant with the inte
rest of the banks than with the convenience of the
public.
As to tho "Bank of Virginia," {I like this name for
the one bank system,) let the law of the 1**1 regular ses
sion of the legislature, by accepting the provisions of
which it would sccure an extension of its charter, be
suspended until the 31st day of December, 1842, or
anv other date posterior lo thai al which it is to expire
according to the act of ihe 17ih of February, 1830,
which extended its charter for nine years und one
month.
The law prescribing the conditions on which tho
banks nny gradually wind up, und should take care to
provide that, unless within the appointed reasonable
lime the bank* accept it* prowaiona, the Attorney Ge
neral be directed to institute ? judicial inquiry into the
conduct of tho Mid bank*; and that he wwiuie auch
inquiry by writ of quo tca-rauto. Sap The C<m?/?/?
itcuk vs. 'I'kt JumuM It fir C'mnmw. t. V?. Co.
190
Having mmI all I ?lah now to My on tfcoae topic a, I
will refer, in coocluatuu, to one item of authority winch
convergea to the one bank ajatew. On the Oth of De
cember, a couiinittee ol the Senile of Pennsylvania wia
apiKiinltd lu inquire ii^.j the causca and extent ol liio
public dutreaa, and on the t'Jib of January, 18*0, they
made a report through Mr ltaguet, their 'Chairman ?
Having mentioned tbe prominent featurea of the gene
ral diatress, tliey proceeded ih their ro|?ort to point out
ita causes Tlw chief cause, they aay, constated in this
ltx< KaaivK xtiMHk.? of rut DiNka Reduction ahould
be the order of the day?reduction iu number; restric
tion tu management. Pt'SLIua.
roa THE MtDUONtaN.
Mb. Am.bv:?Amon-? your readers there are no
doub: many who are pleased with any effort among
their fellow citizens to discover truth, or detect er
ror, in any of the sciences. The defectum of error
has often fed to the development of truth. It is said
of Sir Isaac Newton, that at one time he was so dis
gusted with mathematics, that he would not hear
that science mentioned in his presence. There must
have bw-en some high influential reason exciting this
disgust of a science, which the mathematicians sup
posed to be infallible in such s man. In general,
.say* (ajfci, ?? mathematical sciewe is too highly
esteemed." M. de Hit Hon say-, "what are called
1 mathematical trtt hs, are nothing more than identi
ties of ideas, and hare no reaUif." It has, indeed, its
romance* like other science*, as will appear by the
exhibition of one of its greatest errors in its appli
cation to the science of astronomy. 1 have already
slid iu the N. Intelligencer ar.d the W. Mirror all
that I wish to say at present relatively to physical
as.ronomjr, and now wish to say through some dis
tinguished public print something relating to mathe
matical astronomy as taught in our schools.
This I shall endeavor to state in the most perspi
cuous mode I possibly can. Then any and every
man acquainted with mathematical astronomy, knows
that Mercury is placed 37.000.000 of mile- from the
sun, and that a velocity ot 1I0.0.R) miles an hour is
given him iu his path, and that he performs one
period round the sun, leaving out fractions, in 87
days.
It is equal! v known that the earth is placed 5?5,
O'H.OOO of utiles from the >un, and that iirt.000 miles
an hour is given Iter in her path, and that she per
forms one revolution round the sun in 365 days,
leaving out fraction*, as in the ease ol Mercury.
It is, also, equally known, that the moon is placed
8k),000 miles trom the earth, and that the eanh and
moon have a common motion of GN.000 miles an
hour; but the moon has a greater velocity in her
path, independent of the motion they have in com
mon of 3,000 miles an hour, which gives to the
m xm 70,<)00 miles an hour in her path round the
earth, performing one revolution in 20 days, leaving
out fractions as iu the former coses. Then Mercury
. m >ves 110,0:10, and the tnoon 70,000 miles an hour
round their respective primaries?Mercury 37,000.
000 of miles from the sun, and the moon 240,000
miles from the earth. Here, then, it is in ftlll evi
dence from the showing of the facts as they reallv
exist in nature, that three periods or revolutions of
the moon round the earth, are equal to one revolu- i
lion of Mercury round the sun.
Then for conveniency, suppose the moon placed '
three times her imagined distance from the earth, j
which would b.' 790,000 miles, one revolution then
of the moon, would be equal to one of Mercury,both
b iiig performed in n7 days. .The moon moves
^0.000 miles an hour, at the distance, we will say, of
730,000 miles from her primary?the planet Mercu
ry moving 110,000 miles only in his orbit round his
primary, can he then ba 37,000,000 of miles from
that primary ? I say,contrary to all mathematicians,
however learned, however celebrated, that he can
not; and that here is a great error in mathematical
astronomy which ought to be corrected. If the dis
tance ana velocity of the moon are rightly given, or
remotely so, the distance and velocity of Mercury
cannot b?.
Now, sir, I wish to draw the attention of Ameri
can mathematicians to this question particularly.?
The moon moving 70,000 miles an hour, at the dis
tance of 730,000?performing one revolution in 87
days, or three revolutions in the same time, at 210,
00J miles, (which will give the same result,) and
Mercury moving 110,(XK) miles an hour only, making |
one revolution in the same time, (87 days,) can it by j
any mathematical process whatever b > made out that
Mercury is 37,000.(100 of miles from the sun I
It Mercury is 37,000,003 of miles from the sun, j
thun the moon must b; greatly upwards of 20,000,- j
dot) of miles from the ear'i. '1 his no mathemati
cian will bj willing to admit. I have no doubt, upon
appropriate inquiry, that mathematics will b? found
to be greatly in error as to the distances and vejo- !
cities of all the planets, and their satellites round
their luminous leader, the sun.
J' ,U |" be in vain to say, as it has been recently i
j aid by a learned mathematician, "that it is an in- I
correct^ principle to compare a body moving round
otts, with a b >dy moving round another! if the bo
dies belonged to different systems, then it might b-i
said to be an incorrect prinei/de; but in the ease here
stated, the bjdies, Mercury, the earth and moon, are
moving round the same body, the sun, are indisso
lubly connected, and 1 may say, bound together by
the same cord. They all have* relation to the sun,
their primary, and are all influenced by similar
forces, and upon similar principles, whatever may
b ' the nature of these forces?these principles.?
Their distances, their velocities, and their periods,
remain invariably the same. The comparison, there
lore, is not mathematically only, it is philosophically
correct.
Physical astronomy, as it now exists, is made
up of gravitations, attractions, and repulsions.
.Mathematical astronomy, is made up of magni
tudes, distances and velocities.
Practical astron uny is the', result of long continued
observation, the phenomena of which, are certain
and invariable, and which derives no advantage
whatever from either mathematical or physical as- j
troriomy, as these branches of the science now ex- '
ist. The great truths, however, of the practical '
branch of the science, arc very adroitly indeed made j
to cover the enormous errors of the other branches.
It is, however, no: in the sciences only, that we find
some dominant truths,giving currency tothe greatest j
of errors.
Now, sir, if I am in error, I most earnestly wish i
it shown. What I have stated above, opens into a
field, with a game presented, worthy of the pursuit j
of the American mathematician and philosopher. ?
There is nothing attending the pursuit at all hypo- j
thetical. The facts are such as really exist in the J
open field ol creation, and relate to times or periods
only. The moon performs three revolutions round i
I the eanh, and it is said moves 70,000 miles an hour, :
ane completes her three periods in 87 days. Mer- I
c.ury, it is said, performs one period in the same I
i time, 87 days, and as stated, moves 110,000 miles an j
hoar only. Then the facts as to the periods being
true, the distance of Mercury from the sun cannot
!>:? 37,000,000 of miles; or, the moon cannot be so
near the earth by many millions of miles as the
mathematicians have placed her. The truth is, that
the moon has a greater velocity in Iter orbit than
I Mercury has in his?the earth and Mercury having
the same velocity in their appropriate orbits. This
follows necessarily from the motion of the sun in
his grand orbit?lie moving, attended by his planets,
a> Jupiter moves, attended by hi- satellites. The
whole idea of one planet moving faster than another,
or one-of Jupiter s moons moving faster than the
others, is not only unphilosophical, it is equally vn
milhemalical. The whole of mathematical astrono
my must b> recast, and o'lier means than triangula
I tion sought for, to aid lis in arriving at something
lice consistency and truth in this, the most grand,
the most sublime'of all sciences.
Your ob 'dient servant,
R. NEWMAN.
[ Rjrnney, Va., October, 1837.
('011 RES PO N I) E !YCEa
New Yoiik, Oct. 31, 1H37.
Deiti Sir:?Rejoice with me that such long tried
and consistent Democrats as Isaac I,. I'arin.%, Al-.r
ami r Stewart and John J. Morgan, REFUSED to
be associated on the assembly ticket, with the agra
rians ol the Fannv Wright school; who, mi,rafdt
(ficlu! arc NOW the oracles of Tammany Hall!
I have reason to know that every effort was made,
to induce the above named truly respectable gentlemen
to 1,-nd their natries to the unholy alliance lately form
ed with the destructives, but in Tutn. This is as it
should be.? I'hc ticket now, is composed of SUimm,
If:, nl, St ration, Skidmorc, and Townxnd, who also
figure on the Military Hall ticket, lining pure
unadulterated' agrari ins, tind Theodore Scdgwick,
Sr.,-a young lawyer, wli >, it is understood, writes
radical articles for the Evening Post. Thomas
II 'IcU, a worthy citizen whose views ,on political
mailers L ive ever b vn thoroughly radical. Alex
a>i't:r O. AiJcrton, J. M. Valentine, /?'. If". and
Janus B Skfft, ?ho are Loco Foco'*, to the extent
of their limited acquirements,?ai?d Messrs. IJnAa
Sfrrrttf ami IS** Ltorv, who a Ion* represent the
D<am>cratic party ?? ?be tirkeC Ala* ' for l|>e oW
temple of democracy, uuw d??ec rated by SUtmm,
V'iVi and their associate# of the Jack Lade
school! , .
lu that hail whose arches have echoed back the
eloquent appeal* of such men as Van Bureu, l.iv
tagstun, Clio'oo, arid their compeers, tb? Pu,:nK
and feeble common place of Ming, and hi* agrarian
associates are uow alone heard. Tell it not in
Gaih! The high places of the party are consecra
ted to strange Gods. The high prieUs surround the
altar of Democracy?the temple still survives the
shock, but'the incense no longer ascend*, and the
offering like U?at of the heathens of old, remains
unconsumed by the holy flame of patrio*ism.
ask, what is to bs the consummation of all this!
I reply, we shall be signally defeated. What' shall
men having a stake in this community, t-nd who
have sustained the Democracy because they were
the conservators of public order?the defenders of
these safeguards which surround the accumulated
earnings of prudence and industry; shall they join
in the attempt to elect men without character or
talents, and who to the extent of their limited in
tellects, declare a war of extermination on every
thing valuable 1 The answer is obvious.
They will not sustain the ticket. AM */ t^f"1
will, nut no lo tit poll*- You no doubt observed the
rise of stock here on the annunciation that the SuL
Treasury bill teas nailed to Ike table. This is the
bjst test of the opinion of our capitalists in relation
to this bill, llvl it pawd, th> whole community
teinild hart f<lt the shuck, ami every article of product
and merchandize experienced a d-preuion. May it
sleep the sleep of death. ,
the M ADIS O N I a N.
WASHINGTON CITY.
TUESDAY, OCTOUEK 31, 1837.
orrics B IIIKET, agTWKE* Ml NTH AKU TEMTH
I* IIIU?E THIKOt WHICH ABE ESSBSTIAL, LET TlltBB
? E I'WITV?IN nox-(?iintul>i libebtv, and in all
THISOS CIIAB1TV AugU'fn.
UOlOK'tt ?lB-TIlKA8tTHV 8t IIEMK?EVI
OKNCE OF W. II. CllAWKOBD.
After the extraordinary changes and revo
lutions which we have witnessed, having ta
ken place within the last three years, in the
qjinds of men, in regard to measures of great
National importance, we are prepared for al
most anv other change whatever, that the mind
of man can suggest.
Probably no individual ever filled the impor
tant station of Secretary of the Treasury of
the United States, who carried into it equal
talent, of the peculiar character, which so
eminently qualified him to discharge the im
portant duties of that office as the late W. II.
Crawford. The manner in which he con
ducted that Department gave universal satis
faction, and all his opinions connected with
it were equally respected. We can point to
those, w^io now hold exalted stations, whose
predilections in favor of Mr. Crawford in by
gone davs, took a most decided stand in ad
vance of those which they then exhibited to
wards General Jackson.
These remarks are merely prefatory to our
respectfully introducing a quotation from a
communication made by Mr. Crawford to the
House of Representatives, dated the 15th
February, 1822. To this quotation we ear
nestly invite the attention of the public ; and
particularly that of the former friends and sup
porters of that gentleman, who are now the
advocates of the hobby ol the day the Sub
treasury scheme.
Mr. Crawford then stated,
" In the Slates of Indiana, Illinois, Missouri, Mis
sissippi, and Alabama, the Bank of the United Stales
has tslablished no office. In several ol those Slates
it was found impracticable for the receivers to make
their depositee in that b ink or its offices, without in
curring an expense nearly equal to the amount of
their salary and emoluments. In such cases, the
onlv alternatives left to the Department were, to suf
fer'the public rnonev to remain in the hands ot the
receivers until it could be expended, or to direct it to
be deposited in some of the local banks. Experi
ence had shown that it was not prudent to adopt the
first of these alternatives. Indeed, Congress, influ
enced probably by this conviction, had, in the year
1S(X> directed that the revenue bands in Boston, New
York Philadelphia, Baltimore, Norfolk andCharles
ton should b>i deposited for collection in the Bank or
the'United States, and its offices, established in those
cities ; and in 1H09 it was directed, by law, that the
principal disbursing officers of the Government
should, whenever practicable, keep the public mo
neys in their hands, in some incorporated bank, to
b ?'designated for the purpose by the Piesidcnt ol the
United States. Acting in ihe spirit of these legisla
tive injunctions, founded upon the idea that banks
furnished not only an additional security, not onlv in
the collection but in the disbursement of the public
revenue, my predecessors in office had directed that
the public money, whenever collected, should be de
posited in b inks in the vicinity of the officers who
collected it. When the Department was placed un
der mv direction, in Octob.-r, 181<?, there were eisrh
ly-nine b^nks ol deposite in the different States of
the Union."
In the above quotation we have the declara
tion of one ol the tnost able financiers and
enlightened statesmen, which our country has
ever produced, that " experience had shou-n
that it teas not PRUDENT," "to suffer the pub
lic money to remain in the hands of the re
ceivers until it could be expended": and he
added "If recent experience has fur
nished EVIDENCE IN ANV DEOREE CON
FLICTING WITH THAT WHICH PRODUCED
THE LEGISLATIVE INJUNCTIONS TO WHICH I
HAVE REFERRED, IT HAS SHOWN THAT THE
OFFICIAL INTEGRITY OF THE PUBLIC AGENTS
HAS NOT RF.EN AUGMENTED." Without pos
sessing any actual knowledge of the facts
whatever, wo venture to express a belief, that
upon a proper investigation, it will be shown,
that " ex|H>rience" has given no evidence,
that "the integrity of public agents has been
augmented" in the smallest degree since that
statement was made to Congress by Mr.
Crawford.
Notwithstanding the recorded testimony of
this able financier against a system, which lie
condemned as " not prudent to adopt," we now
are taught to suppose, that lie knew nothing
whatever on the subject?that his " experi
ence" led him into error, nnd that he was dia
metrically wrong in the opinions he then ex
pressed.
We have sebn, that knowledge derived from
experience has been disregarded 1 and that the
theories of a metaphyseal empiric, have been
adopted and recommended! We do sincere
ly hope that the light of experience will pre
ponderate, and east into the shades hereafter,
schemes of any sort devised to Gouge the
People.
? THE SO I'Til OROWl TOO nr< I. < OT
TOJ."
" Who* views are Ibe dkm accurate .? ihu . i
"i ^ T, ".a:?
ported by planters end merchant. or th.e*- !>i \i
sUpporU;d ly whi<? t
With all deference to the views of the
Secretary of the Treasury, we think that
above ait?-,n,)t to throw Mr. Uoaul i?tj ,h,
anna of " whig politicians," is qUiie ridiculous.
1 be comparison unfortunately operates <juit(.
38 pungently backwarda aa forwards. \V)t(J
conatituted " the great Coorention of mer
chants and planter# at Auguita ?" Who u
al the bead of it, and probably wrote the arj
dress which i* brought in to the support of the
assertion that the south "grows too jii < ;i
cotto.y, in opposition to the showing of \jr
Legare to the contrary ? Who is Gov. Mc.
Duffie ? Is he not a whig ? And why is it,
that the Globe endeavors to associate both the
Hon. Secretary and Mr. legare widi i)1(.
whiga ? Dpcs it seek to drive them from
? he party? Surely the Hon. Secretary ,,
neither whig nor nullifior ; nor is Mr. Legare
Vet it seems both are obnoxious to the\v.
casin of the Globe, because the views of the
former are supported by a few whiga and ?u|.
lifiers, and those of the latter bv a few whi?s
But is it really the truth that the " south
grows too much cotton," or is it the fact, that
she raises too little (to use her own lan
guage) of "every supply which the soil will
produce."
Is it democratic to encourage the south to
diminish the production of cotton, and put
herself upon " short commons ?" Democracy
protects the greatest good of the greatest
number. Is it the greatest good of the great
est number to lessen production, or is u the
greatest good of the lesser number ' |n 'this
point of view, suppose the south should diini
nish her cotton crop from a million and a half
bales to one million. " The price being more
enhanced than the quantity would be dimi
nished," who is benefited by it' Is it the
consumers, the people at large, whose troubles
and disorders we are trying to heal, or is it
the southern planter alone ? Hut we bv no
means admit this Dutch* paradox, that a di
minution of production is an increase of
wealth. The south may produce a million
and a half without any danger of a glut. She
has done it. Let her now reduce the amount
to a million. We will venture that the mar
ket will be supplied, just according to the de
mand, from other quarters. If the supply
then equals the demand, the price not being
enhanced when the supply is full, who will be
the losers ? The south with their most profit
able crop diminished, and no enhancement of
price, or the consumers ?
? The cremation of the Nutmegs, &c.
DESTRUCTIVE FALLACIES.
1. The "better currency" for the Govern
ment, and any sort of one for the people.
2. The Government like an individual has
nothing to do but to take care of itself.
3. An increase of production is a diminu
tion of wealth.
4. " The identification of the General Go
vernmcnt with the moneyed and trading
classes, should be such as would leave it,
in a position to be exempt from embarrass
merits, when the people are embarrassed r"
5. The condition of the Government,"
ought not " to answer to the condition of the
people, that the conduct and policy of the
one" ought not to "reflect the interests and
sentiments of the other."
6. The "operation of the Government''
ought not to be blended with the business of
classes seeking the accumulation of wealth.
7. Credit is a tax upon the poor!
8. The Conservative, principle means the
English Monarchy, and an " effort to strip the
producing classes of all their earnings beyond
! a bare subsistence !"
9. One man has no right to possess a horse,
unless every- other man owns one.
10. Differences of opinion are not to be
tolerated in matters of party policy.
11." Bank bills ought" not " to be the cur
rency of the Government and the people."
12. "The General Government ought to
be divorced from all connection with State
Banking institutions," which has existed since
their united births.
The above category of Loco Focor doctrine
we have taken substantially from the last three
numbers of the Globe. Some of them are in
ferential and others arc avowed by a disap
proval of the contrary doctrines of the " Con
servatives." In regard to them we.need only
say, that,
" Vice is a monster of such hideous mien,
That to b2 hated needs but to be seen."
A SYLLOGISM.
One must be either " conservative" or de
structive.
The Globe abjures conservatism ;
Therefore, the Globe is destructive.
The following note was intended to be annexed to
j the speech of Mr. Legare.
!' I have no where seen a more instructive illustra
lion of the effects of the credit system, than in the
following passage from a letter to Mr Senior, the
justly celebrated political economist, from Leonard
Horner, Esq., (London, 1H37,) which the firmer
gentleman has had the goodness to send me, together
with some excellent letters of his own on the Factory
Act, as it affects the cotton manufacture.
"I am not clear," says Mr. Horner, "as io the
accuracy of your statement on Ihe rale of profit in
the cotton trade. is very possible that, at the par
ticular time of your inquiry, ten per cent, may have
been the average net profit, on spinning coarse and
line, and power loom weaving; but the vast fortunes
which have b -en madi* in the course of a few years,
and in so great a number of instances, In all paris
of the country where the cotton manufacture is
carried on lo any extent, by men who began without
a shilling,and entirely on borroirrd capital, for which
they had to pay a heavy interest, prove to my mind
that the average rate of net produce, in any period
of five years since the cotton trade rose into conse
quence, must have greatly exceeded ten per rent,
in well managed ftietories. The statements of
people engaged in trade as to their profits, especial
ly where a complicated piocess of manufacture
makes it difficult for us to verify them, must be re
ceived with great caution ; their object always is to
show for how little they work, Ac., &e."