Morning herald. [volume], June 23, 1837, Image 2

About Morning herald. [volume] (New York [N.Y.]) 1837-1840

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MORNING HERALD.
FRIDAY, JUNE !I3. 113T.
The Urtal Work bfj;un--KMUm jrtio n of
gpecle P*ywenti?A new SpMl* Circular
-?The Better Currency*
The world is inundated with the speculations of
public men on the best method oi resuming specie
payments and restoring a sound currency. Mr. Van
Baren has issued circulars and proclamations Mr.
Middle letters to J. Adams? Condy Raguet com
muuications to the newspapers Col. Benton letters
to a friend? Senator Tallmadge epistles te the Argus,
and Gen. Hamilton, of South Carolina, a long ama
teur message to the next Congrcse.
These men are all talk and theory? not practice or
philosophy. 1 will myself have to take the matter in
hand, and lead the way to a new method of a resump
tion of specie payments and a restoration of a uniform
currency. I have deeply studied the subject and
come to the point at once, on the real Baconian sys
tem of induction and fact.
Up to this day I have been receiving paper money
on a par with legal coin in payments at my office.?
Vet the variation now between the paper and the me
talic currencies is equal to 12 per cent, paper money be
ing at that discount as compared with specie or coin.
From this confusion of the two currencies arise all
the practical difficulties in making and finding change,
and in conducting the daily transactions in town or
country. Paper money is worth something. It is
the representative of property, recoverable by law. It
is not the representative of coin payable on demand.
Therefore it passes at a certain discount from coin. ?
Now the great evil of any currency is a want of uni
formity, causing a vibration and alternation in prices,
and sometimes effacing, by its mutability, all the true
notions of value. To transact business correctly we
must have some standard of value. The mint half
dollar, dollar, half eagle and eagle, are American
standards. There is no necessity, therefore, to de
part from this rule, and the sooner we understand our
position and return to it the better.
An example in practice of these principles will bet
ter illustrate their operation.
Hereafter I shall rsceive the usual current paper
money in payments made at my oflice, only at its va
lue in coin as indicated in the rates given by the bul
lion brokers in Wall street. New Vork city bills
will be received tomorrow at 88 cents per dollar ? New
England bills 66 cents per dollar? Safety Fund bills
86 cents per dollar? and United States Bank bills at
85 cents per dollar, Mr. Biddlc's bank being in a bad
condition. 1 hese rates were their exact value yester
day in Wall street. They are worth no more in coin,
and I shall not receive them for more in any pay
ments to be made to me. When the price of paper
rises, I will give more ? when it falls, less.
All news carriers, news boys, subscribers, adverti
sers. will therefore please to consider the current rates
of paper money in Wall street, the terms and condi
tions on which business is hereafter to be transacted
at Bennett's Great Newspaper Establishment.
Now for the philosophy ef the thing. We give the
public a germ for the resumption of specie payments,
and a mode for preserving the legal standard of value
applicable to ill alike. Bank notes have depreciated?
but they still have their value. Why should they
pass nominally for more than that value? By pay
ing and receiving them at the current coin rates as in
dicated by the bullion brokers of Wall street, we hare
mt once a paper currency redeemable in specie on de
mand, and suffi/nently stable to an?xecr all the purjto
set of trade till the banks, if they eter can, be able to
resume paying specie at their own counters. I re
ceive a five dollar note at $4 40 legal standard, being
at 12 per cent discount -or $4 50, if it be at 10 per
-?ent. In a Wall street bullion office I can convert
this note into coin at once for the amount at which 1
>vtook it. By this plan it will be perceived we have a
paper currency redeemable in specie, and thus show
ing that all the hankers, politicians, and financiers,
are ignorant of their position. By this means all the
evils which are caused by an irredeemable paper cur
rency, in altering the standard of value, or producing
fluctuations in price, may be obviated.
Prom their writings and conduct, tt really appears
that neither President Van Buren nor President Bid
die know the philosophy of currency, exchange, or
paper money. When the President issued his orders
to receive nothins but specie at the custom heuse, he
showed his utter ignorance of the subject. He ought
to have embraced, in that order, a permission to the
collectors to receive all the notes of the city banks, at
their current metallic value in Wall street. This would
at oact! have given them a currency and a vnluo, and
perhaps prevented, in part, the great depreciation
which has taken place.
In other and higher points of view, the course which
I have adopted in the management of my own busi
ness, is founded on the strictest principles of science
and sound political economy.
It is utterly impossible in the present state of the
world, to conduct business en a metallic currency
alone. Coin can ?nly form a small portion of the
great agent of commerce. We must have paper cre
dit ? bills of exchange, and bank notes of some kind.
It is a matter of little importance whether paper mo
ney be issued by corpora ions or individuals; and
what is still more, it is not, perhaps, matter of much
consequence whether it is redeemable in coin for a
long time, or perchance ever at all. If th? ultimate
basn of a paper currency is good property, and tangi
ble, that is quite sufficient for all present practical
purposes. In consequence, however, of not being re
deemable in specie, on demand, bank lulls fall below
their nominal value. But this deprecistion does not
unfit the paper for circulation, provided they are cur
rent only at the rates for which they will command
the specie at the bullion offices. By taking and re
ceiving bank notes at their current specie value,
which may be 10 to IS per cent discount from their
nominal value, we only place them on the snmc foot
ing on which bills of exchange and promissory notes
always have been. In every part of the commercial
world, a bill of exchange passes from hand to hand
at its current value, according to the legal standard of
the country. What are our bank notes now, but so
many domestic bills of exchange, circulating in Wal|
street at their current values ?
The proposition, therefore, which 1 make, and
which I mean to carry into effect in my own busi
ness, is peculiarly adapted to the present state of the
country and its currency. By this mode, whatever
our currency may be, we ahall yet preserve the legal
standard of value. 1 d? not believe it la possible
for the 600 state basks, United States Bank included,
to return to specie payments in ten yeart, if they can
do so at all. I do not believe it possible for congress
or the state legislatures to regulate the currency in
any other way, than to throw the whole banking
business open, and to let it regulate itself. 1 am a
practical msn snd a philosopher, only sinning per
haps in loving the ladies too much. I despise all
mere talk? all Inng winded messsgea. I go for action
at once. If all persons m business will pay and re
ceive all bank notee for tkeir current value in com, it
will at once produce tranquillity and repose in the
money market permit the good banks to expand
iheu issues- and enable us to distinguish ftnd discrf.
dit the bad ones. The aggregate currency is estimated
at $120,600,000. At an average depreciation of 15 per
cent, we have that amount reduced to 8102,000,000,
valued in gold and silver. The difference, 818,000,080,
is a dead loaa on the whole country, produced by
bank mismanagement, and to which we must sub
mit with as calm a temper as possible. Yet in con
sequence of the contraction of trade, caused by the
revulsion, this amount of currency is quite sufficient
for all the commercial wants of the nation.
To conclude, by this mode the difficulty ol making
change in our markets and stores, in the retail busi
ness, is at once obviated. If yon offer a 85 note, at
its current value in Wall street, say 84.50, in pay
ment for an article of a dollar's worth, the seller will
not refuse you specie in change, because they know
the note at 84.50 will conimnnd what it is taken for
in silver coin.
Bennett's Bettkh Currencv. ? The "better cur
rency," long and so properly referred to by Gene
ral Jackson, will soon make its appearance. The
notes will be something in this form : ?
0999CC0909C9C999CC99909990000
o Bennett's Better Currency* JJ
o OME DOLLAR, ?
o REDEEMABLE IN SPECIE ON DEMAND. ?
o o
o James Gordon Bennett, o
?> o
9009999C090C9999099990999999
Of this currency 1 shall issue an amount just ne
cessary to transact my own business, and no more.
The time is coming when every man will be his own
banker, and his own " currency tinker." We have
been too long deceived by great financiers, politicians
and other vagrants in the road to fame. The true
banking system is just beginning to be understood.
The great secret is never to issue more paper tnan
you can redeem in specie on demand. This feature,
which I know how to commuicate, will make "Ben
nett's Belter Currency" the true paper money.
Incident of tub Times.? Not long since a distin
guished merchant, who was recently prostrated in the
''experiment" hurricane, advertised a splendid private
carriage and pair of elegant horses for sale. He lived
in one of the new palaces, in a square, up town. One
day a footman in livery, looking gay and lively, knock
ed at the gentleman's door. The servant opened the
door.
"I have a message for Mr. D.," said the foo'man in
livery, outside.
" I will mention it to my master," said the gentle
man's gentleman.
In a few moments the gentleman himself came to
the door.
" What do you want, my man?" asked the gentle
man to the footman.
" My master desired me to present his compliments
to you and to ask the price of ihe carriage and horses
you have advertised for sale?"
" Who is your master, my man ?"
" Mr. Cambreleng, sir, desired me to present his
compliments, and ask the price."
'What Cambreleng ?" asked the gentleman, the
lightning just beginning to flash. " Churchill C ?"
"Yes, sir."
The gentleman thrust both his hands into the bottom
ol Ins pockets ? "Go back, my man, tell your masierl
shall neverpermit him, if I can,toridebeliind my horses
or in my carriage. If he ever does so, he must buy
them at second hand. Tell him that never with my
consent shall such a * ? ?
Here the footman went off; nud left the gentleman
storming at the door. In a second he shut it, and re
treated to his parlor, his countenance covered with
indignation and his eyes flashing fire.
"What is the matter, dear pa?" asked a beautiful
daughter, throwing her arm# around his neck.
He sat down on the sofa.
"To see such a beggarly fellow, who a few years
ago had to go to Tammany Hall and get him a shirt
by bartering himself away to (he demon of politics ?
to see such a fellow bringing ruin on industrious men
by his politics, and now have such impudence, is un
bearable.
" Bo, dear pa, tell mc what is the matter ?"
" Is it not enough," said he, " to make men do deeds
of unkindness. Beggarly fellows ruining commerce
and the country, and then availing themselves of tkese
very misfortunes to set up establishments and make a
dash through Broadway."
" D#nt be angry, dear, dear pa. I know what loses
we have all sustained. Dont be unhappy. I will part
with all my fine things, the horses, carriage and nil,
so that w e may be able to meet misfortune with cour
age."
Mr. I), could not long resist tin ^woet soothing
tones nf a charming, sensible and intelligent daughter.
One thing is settled? Mr. C. will not drive into
Washington with Mr. D.'s splendid carriage and
horses during the next session of Congress. That
feat is postponed for the present on account of tin
weather. Hereafter Mr. C. will take care to whom
h< sends his compliments again. Churchill had bet
ter send them to the locofocos.
The Talmaih.es. -The letter of Mr. Senator Tal
ina'lgf hnx created a gri at sensation. We have now
in the Unit.-d Slates and State senates, each a Tab
mailge. Formerly (! neral James Talmadge, the
head of the faintly, was lieutenant governor.
The Talmadge family is beginning, after a long re
tirement, to renew their former celebrity of character
and intellectual influence in ihe afluirsof their native
state. The terrible tyranny of the " party" which
has ruled New York for ten yeara, has destroyed
every thing lik> talent, independence, or philosophy '
in public inm. For that period we have lived in the
calm of despotism. Mind, genius, intellect, refine
ment, and all the higher orders of civilized beings,
have been proscribed by a aet of vulgar loafers and
?peculators, without principle, mind, or edncation.
I.ook at V?n Buren? look at <Marcy? look at Cros
well ? look at Beardsley? what are they 1 Either
conceited dandies, or ignorant, half educated specu
lators. mending their breeches, at flfty cents a pair, or
intent only on gain and the " spoils."
The revulsion in the currency, and the explosion of
the safety fund system, will prostrate these men in
the dust in less than a year. Wc must have a change
in this state, and a successor to governor Marcy that
will give honor and eclat to the great state. Who
can better do that than Qrwcral James Talmadge,
a gentleman, a patriot, a statesman not unknown to
I the councils of the slate, and in possession of talents,
rsputahon and genias of the highest order ? To him is
the state already indebted for the high standing of hia
more youthful relatives, the ons in the state senate,
the other in the United States' senate.
We therefore put in nomination General James
Talmadge, for the next governor of New York. Who
says nay ?
Mad Doc.? A dog said to be mad was killed this
morning in Chatham street He was first observed
in the Park opposite the post oftce, howling in a very
singular manner. Aa his nose was towards the City
Hall, some pretended he was only expressing his in
dignation at the "dog law." He had better have been
mum upon the subject. It coat the poor cui hit life.
A not Ike r Wedding-- Yet Another.
Since the suspension of specie payments, more
young gentlemen and ladies have fallen in love ?
more marriages have been contracted? mere hands
and hearts pledged to holy wedlock? more parsons
get fees? more wedding cake made, than for the same
space of time, previously, within the memory of
the oldest inhabitant.
On Wednesday evening a beautiful matrimonial af
fair came oH' in Houston street. The parlor, that
held the little happy party, was fitted >.p as gracefully
as Hymen and Cupid together could have arranged
it, had they been both bred upholsterers. The lights
were brilliant, the dresses splendid, the cake and wine
delieious ? and all present were as full of happiness as
love? expectation? prospective bliss? friendship, and
mutual kind wishes could make them.
The young and blushing bride, sat in all the purity
and lovelinessof innocence and white satin ? a wreath
of white roses encircling her lovely head, where the
little loves were nestling and playing at bo peep. The
two beautiful bride's maids were dressed in pink
satin? how tasty and elegant!? and looked like the
smiling pictures of youth and loveliness.
Mr. G., the young bridegroom, sat in full dress? a
gentleman's full dress is so little varied that it is hard
ly worth describing ? looking triumphantly happy ?
his lofty forthcad showed a mind that could appre
ciate his happy lot, aad his beaming eye, and the
smile that sat on his lip seemed to say ? "I am the
happy man that has woeed and won, and have borne
off the precious prize from a host of contending
rivals."
Rarely has a more brilliant party been assembled even
at a wedding than was seen on this joyous occasion.
There was the beautiful Miss C. who has more ad
mirers than she can count on her fingers ? the fingers
they all swear were stolen from the Medician Venns.
She was dressed with singular taste and neatness,
just enough and just little enough of decorations.
Then there was Miss K. another favorite belle ?
with an eye that would warm a cynic into passion ?
Miss M. whose form one imagines was conferred
upon a being of the earth by some odd mistake which
deprived paradise of one of its prettiest angels? and
Miss R a belle, in whose enchantment more than one
proud heart has flattered? but we cannot enumerate.
The gentlemen were gallant, spirited, and attentive.
They all read the Herald and Chronicle ? and conse
quently have imbibed sentiments of gallantry and de
votion to the sex, which make their company pecu
liarly pleasing to the fa:r. The affair passed off plea
santly? our package of cake came to hand? neatly
enclosed in gilt edged paper ? tied round with a deli
cate while ribbon? with a sweet rose, emblematic of
love, Hymen and happiness.
Ave Maria !
Oh, my bird*
Ave Maria !
Oh ! my bird ! my sweet, sweet bird.? Old J/ymn.
31b. Bennett Your sympathy for the fair sex,
generally, has led me to trouble you at this time, with
the sad tale of my misfortune in having stolen, from
beneath my chamber window, one night last week, a
sweet little songster, called an English ground lark. ?
I am almost in despair from the loss of my dear bird.
Cannot you devise some means to recover it? Oh.'
Mr. B.. could you have heard its beautiful warbling?,
through the long sunny days, to cheer and reenliven the
hours of my solitude? could you have seen its anx
ious fluttering* to welcome my approach ? its ex
pressive eyes flash with delight, when I fed it from
my hand? you, who posaess so much kindness of
heart and admiration for the ladies, would, I know, do
all in your power to recover my darling, and thereby
soothe the feelings of atflicted, Marv.
Answer.? In one of the beautiful poetic legends of
the CathoJic Church, called the " Lives of the Saints."
I remember reading in my youth, a curious story of &
lost bird. A beautiful female saint, with eyes as bril
liant as Mary's, and cheek as soft, and heart as warm,
and intellect as high and pure, had a little bird that
she loved as dearly as Mary loved hers. A hawk one
day pursued it into herbosoin; the sweet saint be
came very much attached to it, caressed it, and made
it her sole delight. After a time, the bird flew away
one day, and left the holy saint inconsolable. For
several days and nights she would take no comfort.
At last, on the evening of the Vespers of the Holy
Virgin, as she was kneeling at the altar, she saw her
Ioqjz lost bird descend from the lefty gothic window,
over the crucifix, and warble as it was wont in former
days. Saint Margaret (for that was her name), clasped
her hands in ecstacy. As the bird descended to the
altar it gradually lost its form, and assumed the shape
of a beautiful youth, with rosy wings at his back, and
a face radiant with smiles and love. " Weep not Mar
garet, " said the youth, "1 am thy guardian angel. 1
took the shape of a little bird, in order to teach you
love, humility, piety, and how to bear affliction. I
am still near thoe -still thine forever." The pars
spirit kissed the tears from Margaret's soft check?
and jrrudually vanished as she poured forth her pray
ers before the crucifix.
Ave Marin !
Oh. my bird !
A vi Maria '
Oh ! my bird ! my ?weet, ?w?-et bird.
Is Mary sure that her sweet little bird, advertised in
another column, is not her guardian spirit 1 Does not
the beautiful being still float around her in love and in
! delight, at preserving such a precious charge from
harm ? If ao she will never recover it? but the im
pressions left en her heart will be more valuable than
a thousand birds or ten thousand warblings.
A Hasi.ship ? The case of Robert Austin rs. Tho
mas Seaman was postponed yesterday, although the
former was ready for trial. It appears that a ymng
lady it indisposed whose evidence was wanting, al
though she knew Nothing of the exact matter in
issue.
Mr. Austin keeps a " Indies' Shoe Shop" at 305
Broadway, and was very desiroua to clear up Ins cha
rarter, and to show that his treatment to lady cus
tomers is delic,?tr, gentlemanly, and proper not what
some of the papers have represented it to be. We have
no doubt it isao. We keeps a very eleirant assortment of
shoes fit for the prettiest female feet that any poet
ever described in vcrae, or any editor ever paragraph
ed in liwly prose. A lady told us the other day that
his shoes always made her foot look mere delicate
snd pretty than that of any other* in Broadway.?
"Kcce signum," said the blushing beanty, showing
one of the divinest shaped feet that ever a saint loat
hia salvation for.
Anothtr Rkoatt*.? On the Z7th inat., we are to
have a splendid affair at Newburgh. We were mis
taken in saying that Captain Robinson la the presi
dent of a boat club. He la vice-president of the New
bnrgh Amateur Aaaociation, far the encouragement of
harmless athletic apo ta. Captain Charlea Ludlow,
late of the U. 8. Navy, is president.
It waa thia spirited society that gave fifty dollars to
the first steamboat that arrived at Newburgh laat
spring? the Carohne.
Newburgh has aome of the fineat sceaeryinthe
world ; and a correspondent writes ua that there will
be not less than two thouaand beautiful ladieato wit
ness this regatta. We are premiaed the names of the
boats which will jot? the racee. The elite of the
Castle Garden Aaaociation are expected to run. Prtaea
?three beautifully worked fiaga, the prettieat that
can be.
The convivial supper in tha evening, pronuaea to be
? rich, taaty, and elegant affair
South Ambbica.? The ship Leomdaa, from Buenoa
Ay rue, brought advices from various parts of South
America.
Hostilities between Peru and Chili had not been re
sumed, yet there was ? prospect they would be, at an
early day.
The South American Republics are likely to be al
together by the ears.
Santa Cruz still adhered to his project of incorpo
rating the republics of Peru and Bolivia into one body
politic, and constituting himself ruler thereof, under
the title of protector; and Chili was still determined
to oppose him, seeking for that purpose the aid of the
Argentine Republic, and that of fcl Ecuador. The
Chilian squadron of ten vessels was stationed as fol
lows:
Orbegoso brig and Montcagudo frigate watching
Peru; Congress brig, in Guvaquil river; Valparaiso
corvette and Aquitcs brig oft" Callao, (the . \apoleon
transport had gone to the latter with provisions);
Santa Cruz corvette gone to Chileo, to bring men
for the Chili squadron; Arequipena brig, at Inter
media?, to intercept Peruvian vessels; Libertad cor
vette, fitting out at Valparaiso to go with the expe
dition; Peruviana Coiocole, waiting orders at Val
paraiso.
We also learn that an expedition against Peru was
in preparation at Valparaiso. Santa Cruz levied a
contribution of 9100,000 on the inhabitants of Lima.
The Chilian Congress had terminated its session,
having granted to the president extraordinary powers
during tne continuance of the war with Santa Cruz,
who was anxious for peace, but would not give up
his protectorate, and had proposed to refer the ques
tion between himself and Chili to the charges d' af
faires of France and the United States, and the Bri
tish consul at Lima, or to either of their governments,
which Chili refused. There were many in Peru, who
only waited an opportunity to declare and exert them
selves against Santa Cruz.
The insurgents were gaining ground in Rio Grande,
Brazil. Bento Manuel is saitl to have joined their
ranks, and it is repotted that one of the Imperialist
generals has been defeated by the enemy. The pro
bability is that Rio Grande will be severed from the
crown of Brazil.
Senor Marquez, President of New Granada in his
inaugural address says he wll maintain all sorts of
freedom, of the press, of religion, and in short every
of every thing--that he will enforce the laws, and
obey them himself with the most perfect obedience
? and in short that he will be one of the best presi
dents that the world ever saw. One thing Senor
Marquez declares most unequivocally ? that New
Grenada's share of the debt originally contracted by
the Colombian Republic, before its diviaien, shall be
paid to the uttermost farthing; which will be good
sews m London.
In Chili, flour is at an exorbitant price, in co?se
quence of the war with Peru.
Texas. ? A letter from Houston, in Texas, tells the
following story
" The present advance of Texas is unequalled y
any previous history of the world. In the town of
Houston, now four months old, we have a population
of two thousand inhabitants, with about 400 respecta
ble strangers from the southern part of the u?'ed
Slates, principally land speculators, as they are called.
Lands are rapidly advancing. Lots in Houston have
been sold at $6000, which were considered high three
months ago at $400 Southern energy and enter
prite are laying the foundation of some of the larg
est fortunes ever realized by any people, while you
Northern cold calculators are contented to make a
hard-earned living by picayunes. On a moderate
assortment of goods received here in March by
from New Orleans, 75 per cent net profit was
realized by tke parties, who received thecal for their
goods."
The above extract is dated Houston (Texas) May
'26th, 1837. By this i* would appear that speculation
has left this country, and gone to Texas to pick up a
liming like any other loafer.
Fibb? The fire last evening was at No. 4 Doyer
st. near the Bowery. It burned Mr. Oakley's turn
ing shop with the premises over it where it commen
ced. Another wooden building was also destroyed.
The engines were promptly on the spot and by the
exertions of the firemen, the conflagation was soon
put an end to.
Leach and Johnson versus J. J ? Hamilton.?
This trial commenced late in the afternoon yesterday
in the Superior Court. A good deal of interest s?ems
to be takenin it. If sufficiently advanced we shall
publish it in the Evening Chronicle of today? if not in
tomorrows Herald
rVThe Shakspeare Party's Ball, which was to have
tsken place on Wednesday, will come ott tonight if
the weather continues pleasant? otherwise on Tues
day. We shall start our steamboat from Msrket
street wharf at 6 o'clock, and from Canal 6treet at
half past 6. We shall have a fine time of it.
By Kxpr*"* Mall>
New Orleans, Jnne 15.-Monev MA*KET.-Th<:
money market has, for several days, become much
easier The incrrased issues of our banks have tend
?d much to the relief of the pressure, and
men feel more at ease. It is generally understood that
all the bills drawn for cotton shipments will bo re
unned, and the minds of the drawers being made up
to the event, the parties have been able more calruly
to prepar for it. Much tune must naturally be occu
pied in winding up such vast concerns as thoseof our
merchants who were swept away by the storm. But
we believe that some of those who were first oyer
whelmed, will be first to extricate themselves.- / rue
Ameritan.
Mosile, June l?.-FLO?iDA.-The Indiana under
Otceola and Micsnopy, who were reported by Gen.
Jesup to hsve ' come in," laid down their arms and
siven up all furtherhost.lit.es, sre now reported, by
!L latest and most anthentic accounts, to have risen
again, uttered the savage war whoop, and left the
( icneral to fight their battles over again. It is a sad
business and does notaccord with the correspondence,
published in our Isst, between Gov. Clsy and Gi n.
Jesup .? Mer. Adt.
Four of the city bsnks of Augusta, (*a., have re
vived to discount for the benefit of the citi7e_ns -
These banks possess in a high degree the confidence
of the cit.vni.? Bxmmintr.
Mr. Thomss W. House, late of Boston, was shot
down a lew days since in Celumbia, Oa. by a young
man named Ridgway. The quarrel wa" . J1''
House died the following evening, and his assassin is
in jail.? lb.
Vice Pres dent Lamar, of Texas, is now at Colum
bus. <la., estine dinners and rejoicing with his ol<i
friends snd a?sociates. Ih.
1 Ni'i a n Hostilities. It is rumored that For t
Armstrong had been attacked, and that the fight con
tinned two hous.
On Jesup is said to be at F ort King
We five (he above as reports merely |lhe i iwni.es
of correct information seem to be closed to us, and
we can give but the reports of the clsy.
Msjor Gates arnveda few days since ? 'his in y.
He has been as,.gned to the command of the post at
?ThJ pit af*N?w Smyrna has been absndoned by
? ' Th e? s t ea m bonl ' C ; h s r i es t o n arrived yestcrdsy from
Black Creek, with about 35 sirk soldiers.
(Jen Jesup s plan now is, it is Hated, to employ a
wlkLr ofCboc ts w s . The Creeks have hern found
to bo inefficient. They are connected with the Se
m.noles by the ties of conaanguinity, and speak the
language; they have found friend, and rela
tions among them, and it is not to be expected that
they will be as efficient as wts at first anticipated.
The Choctaws make it thnr boasl ihat tliey have
never yet shed the blood of a white man, and th^y
nre represented as being a warlike tribe It i >? ?
feeling of i-aWy e?.stsamong them 'hatthet^e*
were employed in pn fer enre They spesk ?
language, and are in no way connectfd with tne
rainoles - SawnrwA O'ter^ian, June 17,
Anothkb Slav* case.? A negro boy, about 17
years old, was arrested yesterday, charged with being
a runaway slave from Alabama. The case will be
broaght before the Recorder at 11 o'clock today.
Superior Court, June 22 ? Before Judge Jones. ?
Warren tersus St. John. This action was to reco
ver the value of certain promissory notes, amounting
to 8716, discounted by the plaintiff. The defence set
tip was, that a usurious interest had been taken. The
jury found a verdict for the plaintiff.
Common Plea*, June 22? Before Judge Ulshoefier.
Stephen R. Weeks versus Andrew Luke.
This was an action on replevin. The goods of the
plamtifl had been distrained upon, and were about to
be sold, but upon a writ of replevin being setved, the
sale wud abandoned, and the goods remained in tha
plaintiffs possession. The jury were charged, there
fore, to find merely for the illegal distraint, which
they did, giving a verdict of six qpnts damages and
cost for the plaintiff. The goods illegally seized, being
nominally valued at $100.
Uppkr Police, June 22 ? Before Mr. Justice Palm
er. ? <S'au?age Meat. ? A maiket loafer named Jesse
Thompson, was arrested by the watch, charged with
breaking into a stall in Essex Market, and stealing
therefrom a quantity of sausages. Jesse, in his de
fence said "the sassengers was brought to me by
my dog; I did'nt steal none on 'em. The magis
trate did net credit this account, and sent Jesse to
brideweli.
Police, June 22. ? Recovery of property.? Smith
and Tompkins recovered yesterday a large amount
of stolen property, consisting chiefly of silver and sil
ver articles. These officers deserve great credit for
the skill they have displayed in this affair. The pro
perty has been found to belong chiefly to Mr. Penm
man, of Market street, and to Mr. Bull, corner Henry
and Rutgers streets. A quantity of spoons were als?
recovered belonging to a person in Cherry street.
n ? * K Y H A It K K T.
Continued inaction i* the general^hlra^Jr ofT*
.took markets. U^Z^T^Z
^ The S)mi,ar-but ?*???* Mocks nre flaU,^
sured by le^ Iuniar8'^ ?f Pai)"r iw *>? <*'eet, mea
"? ?? ?y iesai standard coin, are a* follow,:
a;; vSg,'^.fr,y ^ s^r.*^
issassar ses' T ?
> ? robabjy thi. arises from th<demand slackenine far *d?
packed' 'a? '^7 r'8Ce lhe Saili"* of th* forei?
J. . ' ^ ' ,lealofcon?u?ion pervades the public mind
m con^quence ofcon.idering the paper dollar, and noTie
dollar in i om, the standard in value. All the difficulty in ma
tracVaS1 fro ?V" "'ark"t?'lnd a" the ?"'?on in con
irnct*,aru?e from this circumstance.
a/len^T^ ^ ?' ?Ur ,WVe ?Plai??l this point
at length and suggested the only practicable remedy-which
-- a return to th. legal Man.lard of value, and the gMng 7o ?
K2X2* won" ?r u *">? ?*? '???
IMhi* eoi?, "' JU,ly' ,he nPW U,Ury Uw into operation.?
no ZT '7 ?'Wn ,ll<' Pnf>pr "n<1 ",,;tallic "'aiidard be
not understood and rectified before that time, that law will
cause great irregularity and vitiate many contract*. Let u?
g *" example:? A man buy* a note for aeven percent interest
ni thati nn,e ,i,e inu'r,''s,' a,,,i t,,e disc?um **?
tween paper money and specie, he will he in fact, recievine IS
percent per annum, for the loan of hi* capital advanced \1I
ST Z"/"", """? "" .>?" "Son ?
ti 'T ,P|, valent,tl,. r.-i* no order or regularity in it* ac
tion. The government, ihe bank*, and the community are
: : : -? s-s
id the mint the commercial rtandard, and take or pa*
pai-er money at its current rates. P X
Jr^t'rSr ? "'^y ? ?
iu*!i!7,Zd7 ?*' rer<''Vt',, by U,e Cusl'"n H?w. direct
to pay tJi.Tl utie'-T t! ,e Wdli tKmW' pai(l f"r' ?r' >r "?1' 4oW
,sh y ' a" Mr, el print*, particularly the fool
hLxpr^, wants to raise a clamor on t? point How l
he government act contrary to law f There is the statue *nrf
?* ?
^.1? "?' T: " "" "?? i"w?? ?p.
ar<* yearly <**?*???*
^
predioainenL T1 i ""'tniwioners is in a sinpuJa*
, ,jraI. . ... " " rr"w'*r* only rvcetve l??r tb*nr ??-?ntie?
a dralt on the Treasury ?i the Sutr-a new spt-oles of paper
Z!ZT " r ?wrowera have
will " "" *"te Tr?>ur*r. to the banks ia
Wall .tree,. 1 he.,, hank* invariaWy refu?- then, at any rate.
Ii appear* ,h.t thi* great loan wdl turn out to be a mi*er?We
bubble, and wor*ethaa noUiing. Tlieholder* of *uch drafts w If
M- cjmip. He4 to go to Albany and there take Safety ^
?t 14 per cent discount from the legal ??n danl of value. We
romn,r?n t V7' ,,"U ^ U,rrow'? demand* on U.e
Comptroller lor specie in payment of these draft*. Thi* the
Comptroller ha? been unable to comply wHh.umUka procure it
"m th'* ,,a"k'. On the otln-r hand the ?Jepo.,u baiJm
r? > um* to pay the .urplu* in the, r cu?tody in.pecw, and thu* the
loan ..lone or two million* oUurplu* revenuv will tum.ut to be
the greatest farce m the ? orld. Tl^ draUion tlx. state Trea
sury are already at a discount of 15 ,*.r cent, and ere the next
distribution take* place m July, we *houl<< not l>e surprised to
?ee them s,.|i,np ? IO M discount.
Now all this confusion arise* from eon.idering paper nmrny,
wb oh i* nominally expressed in dollars, to be equal to com.
Tin* never can Ik- the case, ami never was the r?*e. Even be
lleve "iheT "'J0" ,TX>r r',ynMn,,N "" man be
t -ved the bank, could re,leeW tkelr p^.i,, , i? oola Tke
tde. however, ntertained till h practically t.,,ed',
and found to be ? scientific lie. Pap,r mon. y I, nothing wa?
I'M ling, will be nothing, but the reprenentative of property
hke any other bdl of ex, ban, e, recoverable by proce' Tiaw.
Sis. "* " " "r
* long letter addres*e,| by General Hamilton of Month Caro
U^e^l ' hV aUr"r,etl " f"0*' ,,r" ^ ^"tion.
Oe'H-ra! 11. has correctly attributed the evils under which the
country i* suffering lo overtrading ?,*! ov, . l,ank,np-,0 the
out- protracted ho.tihty 0f ihe (Hrvemment ami the United
? tales Bank, lie props.se., n( reMonng specie pay
nienu, a Bank Convention in Philadelphia m Aagu*t, and the
makinif !he present United Mtatea Bank the " rally .^r P<.mf?
for the resumption, tie^ral Hamilton-, letter i, beautilul u?
theory? deficient in fact. The bank, an- .very dav E,lt,iir
further from a restoration of .pecie payment-, and we are not
- Mhout hope* that busin. .. will revive ere long, on a new and
^iTerent setof principle., jn Uw currency. ,|IM ,ny we hav^
been habituated to revere. In thi* city rhere are r, nn. ol
bu*in#-%< yn Mirrinfr.
"KNKRAL market*.
Nr.w VoaK, June Z2, P VI _ Himn.. . i? i
, t . . Business tolay in way of nubhc
,7 ??
' "It , "m,,brr improvement in ? our of full
25 e , .ale* were made ?f w e.,. rn |ia? . |,0 75, New
V rk ,".pected a, ??0 a ?,0.A amJ ^ M fpf unm,pw,.
lfl ' , arr vrrr a' lit. We remark anotlter operation ol
Mi 7rH ;0aJ " ^ Whkh - ? fair price.
Auc ion Sales? 101 bnr*wbe? at$|^B $M7j; ^ ^ at
t < O. rye at s, i c.;
,to a,Ty ^ ^ - "Jdd, 71 large do.
^ IMsli!!!? H( **' S,7~ -""Mard at M.
? <?. WO lialfboxe* at m , K frrm> r,,?.
?h> I h! ( <B(j ras.ia advartised fiy
Vi|V "* ""^,r,anAt C'o.,iook place ihi*day,and went nit
Z rb ,,y'om mt 42 * W7 r-' 47 >mjf rh",?
?to. at M a 71c.; ? 25|h. hoxe. do. at 97ic. ?? W IU lioxe* do. at
i It'"0 '3,h' 'l0- *' 41 " 14 C,M"' 4'?rh * boxes, oC
i/ jik. each do. at 17 a IftOc.; ? 121b. Iwxe* do. at ?Jc.; 10 61b.
?>xe?do. at 4lc.| 132 che.U young hyson al 3* a <lc.; 214 I
' heatt do al * jjc%. ]X2 half cheats do. at 26 a ?lc.; JO 26U>.
boxes do. at fi.le.; jao |3lb. boxes do. al 4t?c.; 4^ case* each 4
l?U do. at 71 a?6c.j 200 ISIb. b,ixe*do. at 33^0 121b
t^xxdo. aifiOafific.; 2*3 half chests gnnpow<ifr at 5#' to l&V.x*
10 271b. Iioxe* do. at 6?c.i 4 Wlh. boxes do. at OTJc.; 30 case a
canister*, liofilh. each, do. at A3 a 97c.; 7 che*t* imperial at
**?1 U* half che?t* do. at *2 a I l?r.; 10 2.w(,. homes do. at 77 |c .
"*> 'fib. hoxe* do. at Me.s *5 caae* canister., 12 ol 21b. each do'
at HO a ii*.; t?l che?t* hywn .km at 22 a 45c.; 89 half chert* do.
at 34 a 411c.) 50 121b. boxe* da at 44c., 10 chert* Twankey at
32c.; I VI half chert* do. al 27 a 31c.; $ chests Souchonir at 50r ?
?do. Pekoe do. .cented, at 42r.; 15 half chest* Orange Pekoe at
4Sc.; chert* rowchonp at 35 a Me. (5 chert* were extra fine.)
100 half chert* do. at 34Jc^ 36 ca?e?. each 2 boxe* of ISIba. each
do. at 00c ; al*o, Km matt* caaala at 7|c. The above tea* were
part of the cargo of tbe ship Panama, from Canton. Thaw
were of a better quality than thoaa of ibe last sale, with the ex
ception of a few lot* of by *nn *kln, which were v>M at 22 a 27e
Tbe other, brought fair price* The ?a)r was rerv fatty * t
tended. Term*? six month*, approved paper.
Receipt* of Produce? A0 barrel* floor, 10 do. ashes.
Havana,. tune 10.? Pitch, 9; tar, JOaIV bean. ? n.
7 ft; beef. No. 1, 2 and prime, ?? a 1^; do. Nci* VnrL anrf'^Mtaa
' *>? ???ked. 12 00 a li 00 bread, pilot, 7 0 ?7, fuS,'