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rUDAV, 1VLT H. IM*. The Cnm When we laat week referred !? thi? important un we stated that the report of the Water Commiiiioatri wii due on the l?t instant, but that it had beea delayed for mm? stock jobbing or other epcratiun, which was tha fact. Since then, we have .procured a copy *f the report, (although it hat not been circulated generally,) and find that every page ?f it bear* out our assertions that the whole arrange ments on this most magnificent work of modern times, hare been made one of the moat disgraceful jobs that erer disgraced this jobbing city. We stated that amongst other meaus resorted to by the Water Commissioners for jobbing, was the forcing of the low bridge into contract against the wishes of the peeple, and in violation of all law and common sense, aud when this proceeding was stnpt by the Legislature, they still delayed the contracts for the high bridge. Here are their own remarks ?pon this point, and out of their own mouths shall they i>e condemned as jobbers and incapables ? obsti nate, st lipid men. " After due consideration the Commissioners have decided to adopt the pUu of crossing the rirsr wilk a stone ? true lure, a* recommended by th* Chief Engineer, ia preference te either the flan of tunnelling, or by raising a woudeu bridge on pieri of stoue, or on blocks composed of lop filled ia with stoae. They tliiak the difficulty to be encountered by tunnelling, and tke Uncertainty of tke estisaate. is mors than sailicieat to ha* lance the difference ia the expense; and that the erecting a ?wooden bridge of part wood and part itonc, aside from iu lia bility to destruction by fire, and short darttion, would ?o illy accord with the work finished, aod finishing, that discredit ?night be cast upon tke whole structure, which, when com* wleled, will nst only ke an important acquisition, but a lasting honor to the city. u The reasous wl?ich b ro upon the miu -t of the Commis aieaers, on a former occasion. are by no means diminislied in their farce now. We still apprehend much embarrassment in ?inking piers iiA feet through mud and water, anu in raising them up to the prwper height for springing the arches; and we ?till believe, the p an proposed by us of a sjplion bridge, w ith aii archway of 140 foet span and 65 feet iu height, was the preferable plan, both a* to its cost, security, pernaueace of structure, and e:??e of execution. We are however precluded by the Act ol" the Legislature from carrying into eftVet what we hate deemed the most advisable, and are re<tricltd to the two modes already mentioned, and must therefore obey the Jaw, whatever the eoasequeuce may be to oarselves or the public. ''That the Corporation will have to raise a very large addi tional amount i.i money, and be deprived of the use of the ie*tcr far two or three jean, by the alteration of the plan, is iadisputahle. Th* cost of the syphon bridge was $4'2d,0J7, ?while the high bridge, which it is now proposed to build, is es timated to cost $->36,619, being $410,586 more than the cost of the syphon; and to this must be added the claim of the con tractors for materials and otb*r preparations, under their eon tract for erecting the low bridge. This contract was to have been completed in 1841, or two years fr?m the present dale, ?while in the opinion of the Chief Eogin<*r, the structure now adopted will require fire years from the date to complete it; consequently the interest, say of b 000,0 0, for the additional term r quired, insist be added to the cost, it is assumed, there fore, that the io?? in iuterest, aJded to the difference iu cvit between ihe >)ph?n bridge and the present plan, with the sum claimed by the foimir contractors, will not ke less thro one am' a half millions of dollars; which sum, when added to our estim:it>- of the twlal cost as computed in our report ol the 4ii. of January, I&33, will bring it up to aboat ten millions of dollars! " The Commissioners issued a notice on the Idth of June last, inviting proposals for building a bridge of masouri. in eluding the nerc??aiy materials, conforming to the plans and specifications at the office of the Water Commissioners, which will be ready to be cxhibiied on tke 9th day of Juk install'. ? The proposal* to be presented on the '29 lh of that moo th, on or before nine o'clock, P. M., aud the work to be completed by the 1st lay of August, 1843. u Wr should ha?c preferred delay iqctkis report antil enabled to mfurm your honoraole body of the result of the afi>re?aid notice. * Here it a superlative display of wisdom, from men professing to be the leaders in all great public mut ters. No doubt they would have preferred delaying the report: no doubt they would have preferred never reporting at all, because it expose* their stu pidity These astonishing Solons " still believe the plan proposed of a syphon bridge to be the preferable plan;** and this, too, notwithstanding the chief en gineer says, 44 It i? my opinion, as before expressed, that the aqucduct bridge of masonry, with iron pipes for the conduit, (the plan we spoke *f in the " He rald" last week) is the most suitable structure t.? be adapted, and, when c ?ir>pl?-ted, it will be viewed as the most satisfactory work!" Aud iu the very teeth of this, Stephen Allen and Saul Alley say the syphon bridge will be best. And because their jobbing plans have been foiled in this particular, they throw the whole blame on the Legislature, and come out iat footed, and say, that whereat the aqueduct was to cost $*,000, 000 with a typhon bridge, it will now cost git, 000,000. The syphon was to cost $425,090; the high bridge $825,000; a difference of only ?400,000, and yet an increase it added to the total expeuse of ?2.000.000. If this is not jobbing, then ?ever was there a job carried out in thii city. Moreover, by their blundering aadobttinate haste, they have to pay all the lass on the materials fnrnish ed and prepared lor the ?yphos bridge. In (lie con tract for building the syphon, entered into with Ells worth, >1 ix ft Co., are the follow ing provision*: ? "Audit it fu r ? he r agreed aid under?teod, that if the said Commi??i' >n?rrs sli'll a', sue time decide not It construct the work kb the pi m contemplated by thu ecsu'ract, then sad la that caae, the taid Caaitatsiiaaers shall have pnwer to declare ! this cs ntract t.b .ndr.ucd, and may proceed forthwith to con tract sad erm?truei tW? wcrk, in Ihe ?a*e manner a* they would haft power I ? Jo if thu contract had not h eti ia <d? . It i? fur ther i greed, tli it in the event of abandoning thi? contract as above provided, i he ?aid Commissioners will pay the said e?a tractors lot the work (me and the material* dtlivereJ on the line of aqueduct. ( ?r that nay he delivered on ?aid line within three we k< aj'ur receiving u>tice from >md ( nmnioi m>ri that this coalract is |o he sbakdoaed, hcrci i provided.) ar cording to the lalttcof the same under this contract. whn;n ?hall let ascertained and determined by i he ?vul KiiKine.r 1 he sani Commissioners fnrth-r agree, thst for all materials fr which a specific hill may have been given by the ?.<i<l Rngineer, they wi'l allow eight week*, after notice of ahtindonmtnt, for their delivery on the lit e. The said CemmisaioBrrs further agree, that for stich preparations a? may be dir'Cted hv said F.ngitieer, the^ will pay (he mm which we saic Engineer shatl estimate as the value oft' e same." And under this arrangement, we have no doubt that an extra charge of at least a million of dollars will be made on the city. Side by tide with these cool calculations, it i* amusing to see th* Commis sioners complaining of the oppressive demand o $f!M. Hi cents, for taxes by the Collector of the i??n of Mount Pleasant, and speaking of an application to to the Legislature for relief ! Murmuring orcr JflS and Wi cents, and s<|tiaod?rinK two millions in extras, as coolly as possible. They say, moreover, thus : " Had the ' on.misnoi.' rs bees left to pursue l he original plan of the wi.rh, however, tin re can >caierly he a doubt U.e Cr.C.m W"i, ii have been flow inc through our streets, and regsliug ln.|ii th? i?tte md tight of our ciiisens, on. if not before, the 4th of July, Ian." A*id now. we are not to have it before lf< 4o. We ?hall leave iu? sublet for today, after thus stating |h? amount of W'im tini* ?? tiii aqwrnrcT : Aq>ied"c? V mptoter). . . 77.*?7 wall f \<pi. duct fmitlfd, J7,?I5 I ul?'H? fni h?d, . . ? ?4U 6 Tunnel* ituislied, . . . i l'f7 6 Tuns- Is excavated iu total Isng h, l!**W Cubic yards of foundation hMi.l,?d f?| lo of Pi Hvction Wall, ' . 74*70 d Ventilators completed 7 do ia progress. The following taoles give the sumt of mtn.ey al ready expended on the work ? mm July, 1*35, to January, |a.ti. a^l " Jiiiury, IU.KI. lo July, ISM, IUJI70 *4 " July, IWH, In January, 1837, li'mrj " Jaimar , 1*37, to Jnly, 1*37, 44 July, IWtf. to January, ia.lt, in >-se 113 ? January, lt?K, tn July, ISIS, S'i.7?? -;n * July, IN3*, to January, l*3S, <is| t|.% 70 M January, IMP. o Jul), ItHS, 714, WW 01* $i,S7liim +u Add balance in hands of f*.umiai< sinners, 41 Total of r< ?| tisi ios? on the Corny t roller, 10 The following will afire a condensed vie-v of ihe ? icral objects for which the money drawn from the City Ch Maker tain during tlM laat atx been expended 1(1. Far had reqoired for the aqueduct ui ?? servoir*, md for right af way aad to be wed for embankments, - ? ? $6>,471 2d. For work doer ul material* fumtahed by the contractors, 934,844 N 3J. Far salaries and incidental nprun ef the Corp* ef Engiaeers, . 91,167 04 6th. For advertising, printing and stationery, ? 3, ISO 08 4th. For the salaries of the Commissioner* and thair Clerk, aud for their incidental ex penses, 3,838 97 Tetnl of disbursements from Jan. to July, 1839, $716,301 01 These are the most important points of the Report that we can dwell on to day, with the exception of the following, which, on account of its immense im portance, the Commiaaionera appear to have dwelt on with great emphasis, in describing their tour of in spection along the line. E. T. Menomy. ane af the Inspector*, having neglected to bring with Mm his inspecting bar, by which neglect, we were inucn incommodeed ia our opcratians; and he having declared, that he would rather relinquish hi* statiaa, than be bouad to carry the sail instrument ovtr the liar, be was informed, if Ihnt was hi* determination, hu might boasider hi* service* a* not re quired after the present month. In our last article, it will be remembered, that for the first 50 sections of the aqueduct, we enumera ted the exact state of the work on each of these sec tions. The Commissioners also made % tour along the line in June last, and have published an addenda to their report, with the following pompous title:? u Report of a Taur of Inspection on the line of Aqueduct, by 8. Allen aud W. W. Fox, in company with the principal As sistant Kugineer, and the lesidenu oa their respective dis trict*." And this mountain in labor brought forth a mouse; for of the whole 97 sections they do not state a single word in relation to the progress of any of them, ex cept the following IS: ? Sertioiu. Stctioni. 1. ? U*m progressing slowly 30. ? Masoa work finished 2. ? Finished 41 ? do do do j 4 ? Mason work fiaUhed 42. ? do do do 4.? All dan'.' but 'JO feet 43. ? da do do 7. ? do 160 " 41. ? Small piece of Spuodril 8. ? do 200 " banking II ? M 4*ou work lint hed 44. ? 411 but 200 feet of Ms 14 ? Masou work all fiaished soury 19.? do do do 47. ? All but 164 do do 30. ? Mason wark finished 40. ? Complete And here we leave the matter for to-day. We shall refer to it in a day or two, with copious draw ings and diagrams of the whale line of work, which we have prepared at a great expense, and which will be ready in a day or two. * This sum is exclusive of the estimate due the centractert for the moath of Jane, amounting to $334,280, the payment of wl ich is to be mide an the 6th of July instant. Father or Atlantic Steam Navigation. ? Yen, j the father, and he is a regular bred Yankee, a native 1 of Connecticut. Junius Smith, E?q. who cornea out a passenger in the British Queen, and may be expect ed here daily, till he arrives, is the gentleman who j began, full ten or twelve years ago, in London, to turn the attention of English capitalists to the ease, pro/it and practicability of navigating the Atlantic by steam. For more than twenty years he has resided in London. In enterprise, industry and intelligence, j we possess all the New England character. He brought those capitalists ? together, w ha form the British and American Navigation Company, and to his untiring energy, the enterprise ia indebted for its existence. \\ lien we were in London, we frequent* ly saw Mr. Smith, and on one occasion spent half a day with him at his elegant cottage ornet at Pelhaiu Rhy, near London, on the Snrry side of the river. He will he accompanied to this country by an ac complished and beautiful young lady, his only daugh ter we believe. 'I he views of Mr. Smith on ocean steam naviga tion, are far ahead of the age. He entertains the be lief, and shows calculations to that effect, that the whole freighting business aeross the Atlantic will, in j a few years, be confined to large steam ships, equal i to 300(1 tons burthen. The Cillev Duel. ? An extract from a speech, recently made in Kentucky, is going the rounds, by ' which it appears that Mr. Graves was urged into I that duel by a number of his friends, in order to savo | his own honor and the houor of the ?'ate of Kentucky from imputation. What a sad abuse of words! ? " friendship," " honor!" &e., &c. The original dif ference was about a few words involving the respec tability of a man who never had any, which these friends called a question of ?? veracity." How much would " honor," " friendship," " virtue, " religion," and all the noblrst sentiments of nature have bean consulted, had Mr. Graves have had the moral cour age to strip sophistry of its difguiae ? and modern chivalry of its blackguard pretentions! Mr. Grave* acknowledges that he was opposed to duelling on principle. How so? What sort of principle is that which resigns its own judgment into the hands of friends whose advice violates every moral, legal, and religious obligation! We do verily believe that moral courage is the only kind of true courage? that courage which ena bles a man to follow his own natural principles of honor and magnanimity, in the face of vulgar preju dices or the rotten opinions of cliques aad coteries. Defalcations in I'pper Canada. ? According 1 to the British "Colonist," Mr. Barber and the Hon. | Col. ells are no longer officers of the I pper Cana da College. It is sai<l their services were not dis pensed without a cause, and it is further stated that the funds uf the college have diminished rapidly. Hon. Hrnht Clay reached Rochester on Sa turday. and made a speech to the people immediate ly after he arrived. On Monday he left for Canan diigua. win re he will visit the Hon. Francis Granger. LlBRRAL. ? The Hon. Thomas W. Williams, of New London, member elect of the next Congress, has made a donation of $1000 to the Colonization cause. ? Hartford C'ourant. This is real liberality. Persons of an ordinary min I might snppoae that a thousand dollars given to clothe the naked, or feed the hungry, would have I bt*en more charitable. Not so? it is much better to expend large sutus in sending a few black rascals to the coast of Africa to live in idleness and drunk ? enness. It is far mort of a philosophical experiment, too. Complimentary Ball toCatt. Robi hts ? Wo understand that a number of gentlemen are prepar ing to get np a Complimentary Rail to Captain Ro berts, of the RritUh Queen, as a mark of their sense ' I of his talents ami enterpise in bringing over the fir>t steamer fmm Europe tr. America \ very capital idea ? p<> ahead. It is to be given at Tammany Hall, i under the management of Mr Parker ( - Chimin wiiv.? We are very much dispov, | ; to believe that thi? mode of multiplying the coj ie< of maps Rnd charts, is no invention at all. From de 1 scriptJoRs, gnrl several recent French periodic^!*, it i i? la to have been known in Paris for some length i of time. lie Montreal papers, not having many rebel* to blniv up *n<' * noise about, are now basy sliowing up the very worst lineaments of the Yan kees, as they call us. Go ahead. We might be bet ter than we are? but then again, we might be much worae. Moke J*wabtwoctiho. ? A very painful on tlil v as j .ifl<>a? last night, which affected the character of an i iudlfMaat who has hel.l important offices both under j the whig and ItMOfoco corporations of the city. The sub-treasurer in qneition had Ijirgr sums of money ; to rec< ive through the Straet Commissioner's Office, and hi* defalcation* are estimated at $*20.WI0. This I is the way the money goes. ??? ?!?><-? n > tt ??*, Thie is a truhy affair, aad uaworthy of the name announced as it* author. Many of the atUupU at wit are meat melancholy; the descriptions art Com mon place; and a majority of the jokes aad anecdotes are aere reprints of aewspaper paragraphs which are worn threadbare, badly arranged and connected. We can only aifrrd room today for the following ex tracts from this " Diary in America:"? A visit, to make it agreeable to both parties, should be well timed. My appearance at New York was Tery much like bursting into a friend's house with a merry face when there is a death in it ? with the sudden change from levity to condolence. " Any other time most happy to see you. You find us in a very unfortunate situation." " Indeed I'm Tery? very sorry." Two hundred and sixty houses have already failed, and no one knows where it is to end. Suspicion fear, and misfortune hare taken possession of the city. Had I not been aware of the cause, I should have imagined that the plague was raging, and 1 had the description of Defoe before me. Not a smile on one couuteuance among the crowd who pass and repass; hurried steps, care-worn faces, rapid exchanges of salutation, or hasty communica tion of anticipated ruiu before the sun goes down Here two or tnree are gathered on one side, whisper ing and watching that tliev are not overheard; there a solitary, with his arms folded and his hat slouched, brooding over departed affluence. Mechanics, thrown out of employment, are pacing up and down with the air of famished wolves. The violent shock has been communicated, like that of electricity, through the country to a distance of hundreds of miles. Canals, railroads, and all public works, hare been discontinued, and the Irish emigraut leans against his shanty, with his spade idle in bis hand, and starves, as his thoughts wander back to his own Emerald Isle. The Americans delight in the hyperbole; in fact they hardly have a metaphor without it. During this crash, when every day hfteen or twenty merchants' names appeared in the newspapers as bankrupts, one < party, not ia a very good humor, was hastening down ' Broadway, when he was run against by another whose ; temper was equally unamiable. This collision routed the choler of both. " What the devil do you mean, sir !" cried one ; I " I've a great mind to knock you iato the middle of next week ." This occurring on a Saturday, the wrath of the other was checked by the recollection of how very favorable such a blow woald be to his present cir cumstances. " Will you ! by heavens, then pray do; it's just the thing I want, for how else I am to get over next Mon day and the acceptances 1 must take up, is more thar I can tell " All the banks have stopped payment in specie, and there is not a dollar to be had. 1 walked down Wall street, and had a convincing proof of the great de mand for money, for somebody picked my pocket. The militia are under arms, as riots are expected. The banks iu the country and other towns have fol lowed the example of New York, and thus has Gen. Jackson's currency bill been repealed without the aid of Congress. Affairs are now at their worst, and now that such is the case, the New Yorkers appear | to recover their spirits One of the newspapers humorously observes ? " All Broadway is like unto a new-made widow, and don't know whether to laugh or cry." There certainly in a very remarkable en ergy in the American disposition; if they fall, they hound up again. Somebody has observed that the New York merchants are of that elastic nature, that, when fit for nothing else, they might be converted into coach aprings, and such really appears to be their character. Nobodv refuses to take the paper of the New York banks, although they virtually have stopped pay* ment; ? they never refnse any thing in New York;- j but nobody will give specie in change, and great dis- ' tress is occasioned by this want of a circulating me- ! dinm. Some of the shopkeepers told roe that they had been obliged to turn away a hundred dollars a day, and many a sontherucr who has eome up with a large supply of southern notes, has found himself a pauper, and has been indebted to a friend for a few j dollars in specie to get home again. Tne radicals here, for there arc radicals, it ap pears, in a democracy ? - In the lowest depth, a lower deep" ? are very loud in their complaintp. 1 was watching tlic swarming multitude in Wall street this morning, when one of these fellows was declaiming against the j banks for stopping specie payments, and " robbing a , poor man in such a loillanoui niaaner," when one of the merchants, who appeared to know his eustomer, , said to him?" Well, as you say, it is hard for a poor ! fellow like you not t<f be able to get dollars for h.s note; hand the u out. and I'll gi*e you specie for them ?Tielf!" 7' he blackguard had not a cent in i hi . pocket, and walked away looking very foolish, i Hi- reminded me of a little chiainey sweeper at the I Tower Hamlets election, asking ? " Vot vos my ho- ' pinions about primaginiturl" ? a very important point to him certainly, he baring no parents, aad having been brought up by the parish. I was in a store when a thorough-bred democrat walked in: he talked loud, and voluntarily gave it as his npinion that all this distress was the very best thing that could h.tve happened to the country, m America would now keep all the apeeie and pay her English creditors with bankruptcies. There always appears to inc to be a great want of moral principle in all radicals; ind< sd, the levelling principles of radicalism are adverse to th< sacred rights of mtum ft tuum. At Philadel hie, the ultra-democrats have held a large public meeting, at which one of the first resolutions brought forward and agreed to was? "That they did not owe one farthing to the English people." " I'hev may say the times are bad," said a young American to me, "but 1 think that they are encel lent. A twenty dollar note used to last me but a week, but now it is as good as Portunatus' purse, which was never empty. I eat my dinner at the ho tel, and show them my twenty dollar note. The landlord turas away from it, as if it were the head ef Medusa, and begs that 1 will pay another time 1 bay ever* thin;; that 1 wan*, and 1 have only to offer mr twenty dollar note in payment, and my credit ia nriboundeil ? that ia, for any s?m uader twenty dol lars. If they ever do give change again in New York, it will make a very unfortunate change in my affairs '' A government circular, enforcing the act of Con gress, which obliges all those who have to pay eui tom-honse duties or postage to do so in specie, his created great dissstisfsction, aad added much to the distress .tad diMiculty . At the same time that they (the government) refuse to take front their debtor* the notes of the banks, u|?on the ground that thev are no longer legal tenders, they compel their creditors to take those very notes ? having had a large quantity in their possession at the time that the banks ?us pended specie payments ? an act of despotism which the Knglinh government would aot venture upon. Miss Martineaii's work is before ma. How dan gerous it is to prophecy. Speaking of the merchants of New York, and their recovering after the heavv losses they sustained by the calamitous fire of 1H.V), she says, that although eighteen millions of property were destroyed, not one merchant failed ; and she Continues, "It seems now as ifthe commercial credit of New York could stand any shock short of an earth quake like that of Lisbon." That was the prophecy of I'iit Where is the commercial credit of New York now, in |H37 f ! f ! The di-trcss for chan >e has produced a curious re ' reed v. Kvery man is now his own banker (io to 1 the theatres e?d places of public amusement, nnd, | instead of change, you receive an I. U. 17. from j the treasury At the hotels and o* ster cellars it ii i the lame ihi ? *'all for a gtcas of brandy and wa i ter an I the change is fifteen tickets, each " good for one j;la?? of brandy and water." At an oyster shop, ' eat a plate -?f ^esters, and you have in return seven ? tick* t?, good for 'me plate of Cvsters each. It i? the 1 sent* everv where. '1 lie barbers give vou tickets, ? 1 food for so munv shivesj and were there beggars in ' the streets. I presume they would rive you tickets ) | hi change, good for so much philanthropy. Dealers, [ in ;?cii ral. ^ive out tlioir own bank notes, or as they > , are culled here, nUinphithrt, which are good for one i j dollar, and from that down to two and a i-alf cents, j I all of winch are redeemable, Jand redeemable only, upoa a general rstarn to cash payments. Hence arises another variety of exchange in Wall street. "Tom. do you want any oysters for lunch fodayl" " Yes!" " Then here's a ticket, and give me two ihauri in return." The most prominent causes of this convulsion have i already been laid before the Knuliih public; but there is one -that of speculating in land? which has not been sufficiently dwelt upon, nor has the impor tance been given to it which it deserves ) as, per haps, Cell to the losses occasioned by the great fire, if l*d. more than any other species ?t over specula tion and ovcr?tradieg, to the distress which has en xud. Not but thel Ui ?tu( anuot have tmkmm plnee in the natural courae or things. Cask payments pro duce aure but ??tall returns; but commerce can be carried en by this meaiM oa any extended scale. Credit, se long as it is goad, ia se much extra capital, in itself nominal and aon-exiateat, bat predncieg real returns. If any one will look back upon the com mercial kistery of these last fifty years, he will per ceive that the system of credit is always attended with a periodical blow up; in England, perhaps once in twenty years; in Ameriea, once in from seven to teu. This arises from their being no safety valve ? no cheek which can be put to it by mutual consent ef all parties. One house exteuds its credit, and for a time, its profits; another follows the ex ample. The 1'aeilitv of credit induces those who ob tain it to embark in other speculations, foreign to their business; for credit thus becomes extra capital which they do not know how to employ. Such has been the case in the present instance: but this is no reason for the credit system not being continued. These occasional explosions act as warnings, and, for the time, people are more cautious: they stop for a while to repairdamages, aud recover from their consternation; and when they go ahead again, it is not quite se fast. The loss is severely felt, because people are not prepared to meet it; but if all the profits of the years of healthy credit were added up, and the balance-sheet struck between that and the lots at the explosion, the advantage gained by the credit system would still be found to be great The advancement of America depends wholly upon it. It is by credit alone that she has made such rapid strides, and it is by credit aleue that she can continue to flourish, at the same time thai she enriches those who trade with her. In this latter crisis there was more blame to beattached te the English houses, who forced their credit upon the Americans, than to the Americans, who having such unlimited credit, thought that they might advantageously speculate with the capital of others. One ef the most singular affections of the human mind is a proueness to excessive speculation; and it may here be noticed that the disease (for such it may be termed) is peeeiiarly English and American. M en, in their racc for gain, appear, like horses that j have ran away, to have been blinded by the rapidity of their own motion. It almost amounts to an epi demic, and is infectious? the wise and the foolish being equally liable to the disease. We have ample evidence of this in the bubble-manias which took place ia England in the years 1S25 and 1S26 A mania of this kind had infected the people of America for two or three years previous to the craab; it was that of speculating in land; and to show the extent te whieh it had been carried on, we may take the following examples: ? The city of New York, which is built upon a nar row island about ten miles ia length, at present covers about three miles ef that distance, and has a popula tien of three hundred thousand inhabitants, build ing lots were marked out for the other seven miles; and, by calculation, tkese lots when built upon, would contain an additional population of one million and three quarters. They were first purchased at from one hundred to one hundred and fifty dollars eaeh. but, as the epidemic raged, they rose to up wards of two thousand dollars. At Brooklyn, on Long Island, opposite te New York, and about half a mile distant from it, lots were marked out to the ex tent of fourteen miles, which would contain an extra population of one million, and these were as eagerly peculated in. At Staten Island, at the entrance into the Sound, an estate was purchased by some speculators for ten thousand dollars, was divided into lots and planned as a town to be called New Brighton; and nad the whole of the lots been sold at the price which many were, previous to the crash, the original speculators would have realized three millions of dollars. But the infatuation was not confined to the precincts of New York: every where it existed. Government lands, which could only be paid for in specie, were eagerly sought after; plans ot new towns were puffed up; drawings made in which every street was laid down and named; churches, theatres, hospitals, rail roar! communications, canals, steam bouts in the otting, all appeared on paper as ?f in actual existence, when, in fact, the very sito was as yet a forest, with uot a log hut within a mile of the preteuded eity. Lots in these visionary cities were eagerly purchased, increased daily in value, and afforded a fine harvest to those who took advantage of the credulity of others. One man would buy a lot with extensive water privileges , and, upon going to examine it, would lind those privileges rather too extensive, the whole )ot being umler water. E*en after the crisis, there was a man still going about who marie a good livelihood bv setting up his plan of a city, the lots of which lie sold by public auction, on condition of one | dollar being paid down to secure the purchase if ap proved of. The mania had not yet subsided, and 1 many paid donru their dollar upon their purchase of a lot This was all he required lie went to the | next town, and sold the same lots over and ever ?gain. To ekeck this madness of speculatioa, was one reason why an act of centres* was pasted, obliging ail purchasers of govensmcnt lands to paj in spccie. Nevertheless, government received nine or ten mil lions ia specie after the bill passed. Now, when it is considered what a large portion of the capital drawn from England was applied to these wild spe culations? suras which, when they were required, could not be realized, as, when the crisis occurred, property thus purchased immediately fell to about one-tenth of what was paid for it? it will be clearly seen that, from this unfortunate mania, a great por tion of the present distress must have arisen. The attempt of General Jack?on and his succesers, to introduce a snccte currency into a country which exists upon credit, was an act ol lolly, and has ended in complete failure. A few week* after he had is sued from the mint a large coinage ol gold, there was hardly an eagle to be seen, and the metal might al most as well have remained in the mine from whence it had been extracted. It was still w> the country, but had all been ub?orbed by the agriculturalists; and such will ever be the case in a widely extended agri cultural country. '1 he farmers, principally Datch, liv* upon a portion ?f their produce and Hell the rest. ^ir?crly they were centent with bank bills or .Mex ican dollars, which they laid by for a rainy day, and they remained locktd up for years before they were required VVhsn the gold was issued, it was eagerly collected by these people, as more convenient, and laid by, by the farmers wives in the foot of an old worsted stocking, where the major part of it will re main. And thus has the famous gold currency bill been upset by the hoarding propensities of a parcel of old women. There are some fine buildings in this city, but not many. Astor House, although of simple architec ture, is, perhaps, the grandest mass; next to that is the City Hall, though in architecture very indiffe rent. In the large room of the latter are srnne inte resting pictures and busts of the Prt sidents, Mayors of the city, and naval and militaiy officers, who h?ve received the thanks of Congress aad the freedom of i the city. Mome are very fair specimens of art: the i most spirited is that of Commodore Ferry, leaving his sinking vessel, in the combat on the Lakes, to , hoist hi* flag on board of another ship. Decatur' i> j portrait is also very fine. Pity that such a man should have been sacrificed in a fowiish duel! At the corner of many of the squares, or block$ *f j buildings, as they are termed here, i* erected a very ! high mast, with a cap of liberty upon the top. The only idea we h.ive of the cap of liberty is, the bonnet rouRt of the FrencL; but the Americans * ill not copy the French, alhough they will the English; so they have a cap of their own, which (begging their pardon), with its gaudy color* and gilding, looks more like a/oo/'s cap than anything else. New York it not equal to London, nor Broadway to Kegent street, although the Americans would compare tliem. Still, .New York is very superior to ' rao?t of our provincial towns, and to a aian >\ ho can exist Ml of London, Broadway will do very well for j a louncc, being wide, three miles long, am! the up per pait composed of very handsome house*; be sides which, it may almost challenge Repeat street for pretty laces, except on Sunday ?. Many df the shops, or slores, as the> are here called, (for in thi? land of equality nobody keep* a shop,) ha to already Leen fitted up with large plate-glass frent*, similar to those in Loudon, and but for the depression which has taken place, many more would have follow < d the example Among the few discrepancies observable bet w< en this city anil London, are the undertakers' nhvp*.? In England they are all wooden windows below and scutcheons above; planks and shavings within*? in fact, mere workshps. Here they are different; they have large glass fronts, like a millinery or cut glass j -hop with ns, and the shop runs back thirty or forty i feet, its sides being filled with coffins, standing on | end, mahogany and French pnlishod. Therein ton may select ?< you plea?e, from the seven feet t<> re ceive the well grown adult, to the tiny receptacle of I what Harai calls, " Wee unr hristened babe." I have, however, never heard of any one choosing their ? own cofRn; they generally leave it to their relative* to (perform that office. I may here remark, (hat the Americons anaetisi- i Lie eneagh nut to throw away so much uisne/ in fu- , nermli u we do; still it appears strange to ?n ht. lishman to see the open hearse containing the body drawn by oolj one horse, while the carriages which follow are drawn by two : To be sure, the carriagea generally contain six individuals, whilst the hearso is a sulky, and carries but one. I made a purchase at a store; an intelligent look ing little boy brought it home for me. As he walhed by my side, he amused me very much by putting the following questions: " Pray, Captain, has Mr Easy left the king of Eng land's service 1" " 1 think he has, "replied I; " if you recollect, he married and went on snore." " Hare you seen Mr. Japhet lately"!" was the next query. " Not very lately, ' replied I; ? the last time I saw him was at the uublisher's." The little fellow went away, perfectly satisfied that they were both alive and well. 1 had a genuine Yankee story from one of the party on deck. I was inquiring if the Hudson was frozen up or net during the winter 1 This led to a conver sation as to the severity of the winter, when one man, by way of proving how cold it was, said? " VVhy, 1 had a cow on my lot up the river, and last winter she got in among the ice, and was carried down three miles before we could get her out again. The consequence has been that she has milked no thing but ice-creams ever since." Post Office Rogueries. ? Every week? every day we have complaints of these little kitchens of Amos KendtfL my particular and trusty friend that is to be, if^Bver should reach the lower regions, which the ^rgin 1 hope will prevent. The last complaint is of the post ofliee route between New York and Duxbury, Mass. Why can't our sub scribers at Duxbury get their papers'! Why! Whyl We have also received a letter from Providence, complaining that asany letters containing money are plundered by the post masters or their clerks. We believe it. Qvere 1 ? Can any body tell whether Mr. Van Bu ren or Mr. Clay is making the greatest fo?l of him self 1 One enters the eastern capital of New York, and makes a royal progress west ? the other enters the western capital, and moves east? both have ca valcades, processions, lpafers, fools and devils in their train? both make silly speeches, and all seem to be foolish together. We do verily believe that the world is losing the little sense it ever had. If General Scott has any taste for making an ass of himself, he ought to begin, or Yan Buren and Clay will leave him no folly to perpetrate ? they will monopolize the whole. Be lgiax Rail Roads. ? We have received from Mr. F. A. Chevalier de Gerstner a full comparative report of the Belgian and American Rail-roads. ? This gentleman had charge of the construction of the first rail road on the continent of Europe, which was commenced in 1824, connecting the rivers Mal dau and Danube in Austria, and also constructed several other rail-roads in Europe. He has been travelling in this country a year, and has collected a vast deal of information on the subject. By his re port it appears that there will be finished in the Uni ted States at the end of the present year, 4,100 miles; there are 425 locomotives running. The capital ex pended on rail-roads is now $65,000,000, or an ave rage cost of $20,000 per mile, and yields an average interest of 5J per cent. There is a yearly increase of 15 a 20 per cent in the income. ft?" The State of the Country was never so critical as it is now. The brokers of Wall street are preparing to drain the banks of half their specie to send to Europe. Will not the public take fire at this, and demand specie for all circulation and depositesl We are on the verge of another suspension, all brought on by the rascals and speculators of Wall street. Republicanism- ? Webster's bowing to Queen Victoria'* pretty petticoat? Van Buren ranking a royal progress -Clay another. Oh! oh! oh! As the Israelite* said to the Lord? Do let u* hare a King ai the other nations" ? and a King we shall have, too. (iRirKi H. M ussle white uai killed in Milledge ville, Geo., on the lti'.li mst.,by John J. Ragsdale. The Utter ,vas held ta bail. Accident in Wall Stkeet.? Yesterday, about twelve o'clock, a large scaffolding, which had been erected in the front of the building gaiag up for the Union Bank, fell to the ground with a tremendous crash. Ten or twelve Irish laborer* were on the scaffold at the time, all of whom were more or less injured. Fortunately no passengers were passiag ?n that aide of the street. [Kr?et lh? Cincinnati llrput.li.au.] It will be seen by the correspondence published below, that Miulcnioisellc Aiu rica Vespucci had ac cepted the invitation to visit our Theatre on the oe aasion of Mr Scott's complimentary benefit on Monday evening, ?tiered to her by the Committee on Invitations.? The fair Florentine exile has ex cited so much sympathy from 'he peculiarity of her position, and so much admiration and esteem frta the purity of the motives which have prompted ner to throw hersell upon the chivalry of the American nation, that we doubt not her presence 01 the occa sion referred to will he a source of considerable gra tification : Cincinnati, l&th July, 1H30. Give hal ? A favor coming from the proplt, is every where to the feelings ?f an exile ? a national boon ? in any community of the United States, it is nm h more yet in America Vespucci ? it is a glory. I do accept with the greatest pleasure and the most profound gratitude, the invitation of the Committee appointed by the citizens of Cincinnati, to give to their favorite actor the deserved compliment of a public benefit. I beg leave, General, through you, the chairman of the Committee, to tender them my heartfelt acknow ledgment of their courtesy and hospitality to me, and also to present my thanks to Messrs.* Scott k Thome, the managers of the National Theatre, fcr their kind politeness in my behalf. I have but one word to answer for myself to your flattering language. If 1 have drawn upon me the sad distinction of misfortune, I certainly owe it to my name? to my own dear name? which mounded in n?y immortal soul as the voice of glory, nnd liberty of modern times ? a? the voice of sixteen millions of freemen ? of brothers? who taught me. young, that there was a shameful yoke upon the noble ruins of Rome. General, as to the eloquent and gratelal expressions with which you honor lite memory of my illustrious ancestor, I can only respond to tlteai by the silent but warmest sympathy of my heart. A time will soon come for me to restore his immor tal services to the true light of impartiality which begins to breuk througli the darkness of ages, to show to mankind a great man wronged in his watery grave by old national prejudices, and the wilfal error of history. Then, only then, shall I publicly reverencn America Vespucci according t? my ow n conscien tious cr?ed. and as becomes one lately acknowledged as his lint al descendant by the representatives of the world, within the very w alls of the American Capi tol. Receive, kindly, general, the persr nal assurance of the high esteem and consideration of America Vespucci. To Gen It I Lyttle, Chairman of the Committee appointed by the citi/.ens of Cincinnati. I'ollcr 0(tl?r. Tht fympk 'Ar Thursday ? dashing nymph of the pave. w ell known in Broadway front her peculiar German tuteis anil her gay exte rior, was l>rytit;ht tip before Justice fiopson ler using insulting language to some dentist in Chambers street, whom the gsrl averred was indebted to her in the sum of two dollars? ? for fiitnrt Sftnt.tsifl >ni(| prf-cions." The worthy magistrate, after hearing the com plaint, directed the accused to find hail. Some man who was in the office immediately stepped forward and offered to become surety for her. hut Justice Ifopsoa, who was the sitting magistrate, not liking his appearance, refused to hare any thing to do with him llti Honor John M Blond good, K?<| , immediately got up and railed the girl to him, when something iike the following scene took piace ; ?