"CHARACTER IS AS IMPORTANT TO STATES AS IT IS TO INDIVIDUALS; AND TEE GLORY OF THE STATE IS THE COMMON PROPERTY OF ITS CITIZENS."
II. ii. HOIiMES, Editor and Proprietor.
FAYETTEVILLE, SATURDAY, JULY 6, 1839.
VOI,. 1. NO. 19.
TERMS
$2 50 per annum, if paid in advance ; 63 if paid at
the end of si x months; or 63 50 at the expiration
of the year. Advertisements inserted at the rate
of sixty cents per square, for the first, and thirty
cents for each subsequent insertion.
IcrjLettcrs on business connected with this estab
lishment, must be addressed H. L. Holmes, Edi
tor of the North-Carolinian, and in all cases post
paid. Notice is liereby given,
THAT I, Peyton, R. Parker, have filed my peti
tion, in writing, in the4uperior Court of Law
for the County of Sampson, for the emAcipation of
mynesro lad, Peter, and shall apply at the next
term of said Court, to have the prayer of said petition
allowed. "'
Published by order of the Superior Court of Law
for the County'of Sampson, at Spring Term, 1839, in
the North Carolinian, at Fayetteville, for six weeks.
Wm. McKAY, Clerk.
June 8, IS39. l5-6t
NIL
"If 0 Hhds. Prime Porto Rico Sugar,
s Hhdd. N. O. do
50 Casks fresh Thomastown Lime,
30 Hhds. Molasses,
5 Barrels N. O. do.
20 Boxes Bar Soap,
00 Sacks Blown Salt,
20 Boxes Fayetteville Mould Candles,'
10 Boxes Smoked Herrings,
For Sale by -. GEO. McNEILL.
June 15. 16tf.
Silk Worm Egs.
It is now a good time to commence
a crop of COCOO. S, and a sup
ply of Errs may be obtained on application at this
Office. There are several varieties of Mammoth
Yellow the Two Crop "White and the Italian Pea
Nut. Price, one dollar per thousand. June J.
1,000,000 Si Sic Worm Eggs
FOR SALE,
"IT Y the Subscriber. The worms of about one-half
UP of them reared upon the leaves of the White
Mulberry. W. H. MAFFITT.
June 8. 1 5tw.
WANTED TO HIKE,
FOR twelve months, a first rate WAGON DRI
VER, of cood character, for whom liberal wa
cea will be given. Applv at this Office, or to the
Subscriber. DONALD McdUElN.
Fayetteville, June S, 1 83 ?. Utf.
MERCHANT TAILOR,
BEGS leave to return thanks for the liberal pa
tronage helms received, and also to inform his
friends and the public generally, that he still continues
to carry on the Tailoring Business in all its branches.
He has received the latest fashions for the SPRING
and SUAIlvlKR of 1S30, and is always ready to exe
cute orders with neatness and despatch.
P. S. All thoso indebted to the subscriber either by
note or account, will please call and settle the same im
mediately, as cloths cannot be bought without cash.
May 4, 1330. 10-lf W. L.C.
PIANO FOIiTSS.
r'prrfSs' An Agency is appointed in
TilmSs Fayetteville "for the sale of the
i t llr flQ most approved New York
I fl UMSSpi Piano Fortes. They will be
f i teqjjpaT sold at the lowest New York
J prices, with expense of trans
portation, and warranted. If not satisfactory, they
may be returned. They may be packed for sale
transportation to any part of the State. They may
be seen at the Female Seminary, where purchasers
are invited to call, or on Col. S. T. Hawlev.
PARLOR ORGAN.
The Parlor Orsan, or Seraphine, which has been
used and generally admired zX the Seminary for the
past winter, is now oflfercd for sale at cost.
June 8. 15f-
BALTIMORE TYPE FOUNDRY.
THE proprietors of this long established and well
known Foundry, have made, and p.re continuing
to make such improvements and additions to tlie es
tablishment as to enable them to furnish with promp
titude, every variety of types and printing materials
of the very best quality, such as cuts and newspaper
ornaments m great variety:
Flowers and Borders,
Brass Rules,
Leads and Quotations,
Furniture,
Quoins,
Cases and Stands,
Job Cases,
Wrought and Cast Iron Chases,
Composing Sticks,
Galleys of every description,
Imposing Stones,
Roller Stocks,
Lead cutters,
Parchments,
Ball Skins, &c. &c.
Printing Pressess of every kind,
Printer's Ink,
Colored Ink,
Varnish for making Colored Ink.
All orders will be promptly attended to, and exe
cuted in such a manner as to insure satisfaction.
CHARLES CARTER, rfgent.
June 8,1539. Baltimore.
SPRING GOODS.
"OE have received and are now opening
" our Spring supply, which comprises a large
and extensive assortment of
Dry Goods, Hardware and Cutle
ry, Boots and Shoes, Leghorn and Tuscan Bon
nets, F ur, Wool and Palm Leaf Hats, Writing and
WPP'ng Paper, Cotton and Wool Cards, Drugs
and Medicines, Paints, &c.
Also, Groceries,-&c.
60 bags Rio and Lauira Coffee.
10 hhds. New Orleans and Porto Rico Sugars
12a casks Nai!s
200 pair Bright Traces
2 qr. casks Malaga and Madeira Wine
100 dozen W ceding Hoes
25 do Patent and Dutch Scythes
i hhds. Crockery
30 boxes Window Glass ---4
- ido Co"ins' arid King's Axes,
Which we offer at Wholesale, at a small advance
lor cash, or on time to punctual customers.
NOTT & STARR,
fayetteville, April 6, 1839. 6-tf
E. J.&L.R. CLARK.
Respectfully inform their
friends and the public, that
they have opened a TIN,
SHEET IRON and COP
PER WARE
Manufactory,
5 doors southof the Market
House, on Gillespie street,
- where they will keep, con
stantly on hand, a full assortment of plain and Fan
cy Japanned Tin Ware.
JOB WORK done at the shortest notice.
fCJ Orders from the country, would receive
prompt attention. "June 8. 15:6m
SIR PHILIP.
HMIIS thorough-bred and beautiful Horse,
five years old, will make his first season this
Spring, and will stand at the Plantation of Win. S.
Lutta, (ami may be seon f-cquehtl v at his stable in
Town,) Averashorough and Mc Arthur's Bridge.
SIH XXXXiX2? is a beautiful dark bay, hand
somely dappled, blaik inane, tail and legs, lull IG
hands high. Sir Philip was sired by Optimns, and
dam by Sir Archy. For full Pedigree and terms,,
see handbills ol the day. ISIIAM DRAKE,
mar 30-5; 2in Groom for the Owner.
THE
jETorth. Carolinian
PUBLISHED IX FAVETTEVILLE,
BY H. L. HOLMES,
Has nearly doubled its subscription li t (amounting
now to EIGHT HUNDRED) within the first three
months. It will continue to support the Administra
tion of the General Government, so lonjr as Mr. Van
Puren adheres to the Democratic Republican course,
which he has so far, consistently pursued as Presi
dent. TERMS. Two Dollars and Fifty Cents per ann.
if paid in advance; Three Dolln t (he end of Six
Months; or Three Dollars and Fifty Cents at the ex
piration of the year.
GENERAL SELECTIONS.
FROM THE IIARKISEL'RG GAZETTE of June 25-
THE PRESIDENT S VISIT TO
HARRISBUIIG..
At an early hour on Saturday afternoon,
quite a lively sensation was produced among
our citizens, by the rather unexpected arri
val of Martin Van Buren, President of the
United States. Io sooner had his presence
among us become generally known, than
every avenue leading to his head quarters
(Nagle's Hotel) was alive with busy feet,
wending their way to congratulate and wel
come to our borough the man of the people's
choice; and scarcely an hour had elapsed,
before the pavements and street, in front,
presented a dense mass of people, anxious
to do reverence to the illustrious individual
who presides over the destinies of the Ame
rican nation. There was no pomp no use
less parade on the occasion. The honest
and industrious artizan and the independent
and unassuming tiller of the soil, mingled
together with the representatives of the peo
ple, the officers of the Government," and vis
iting strangers, to tender to him an expres
sion of their gratitude for his valuable servi
ces, and Avere as warmly received, and as
heartily welcome to a shake of the hand from
our Republican President, as though they
had been robed in the silk3 and satins of the
East. There was no formality no loud
huzzaing no noisy disorder. Every thing
was conducted in that pure spirit of heart
felt patriotism and quietude which should
ever characterize such occasions; and which,
while it reflects credit upon our Democratic
fellow citizens, afforded much more pleasure
to their jrruest than if hi3 arrival had been
announced by the roaring of. cannon, the
gorgeous and unmeaning display of a
military parade, or the deafning shouts of a
noisy multitude.
On Sunday morning the President attend
ed the Episcopal church, accompanied by
the Governor of Pennsylvania, Secretary of
the Commonwealth, members of the Legis
lature, our worthy post master, and numer
ous citizens and strangers; and on Monday
morning at seven o'clock, took his departure
on his way to New York. It was, we un
derstood, the intention of Mr. Van Buren to
spend yesterday with his Democratic fellow
citizens of Lebanon; and to-day to be in
Reading, the county seat of Democratic "Old
Berks."
J. & J.
fl A L Just received a large assortment of
Anker Bo;t:ng Cloths. Winch will he sold
eheaP- April 19, 1839.
thf Mexicans to their spii sps. nnrl tn ci thn
expediency, if not the absolute necessity, of
acknowledging the independence of the young
Republic. The argument when used by
France was followed by conviction. The
Texans would do well 'to try the experiment
their armament is siiffiVJp-ntlv nru.-i-fiil. and
the present opportunity for humbling their
i i ? ' t . . . . , -
uraggauocia enemies snouiu not be let sup.
It would be the best retort that could bo made
to their empty boats, of attempting another
invasion of Texas."
Threatened Blockade of JWexico. The
New Orleans Bulletin states, on the authority
of a gentleman recently from Houston, that in
a few weeks the Texan Government will take
measures to establish a blockade along the
whole Mexican coast. The editor adds:
"Mexico is now without a single1 vessel of
w-ar she therefore can oppose no resistance
to the Texan squadron, which will consist of
three sloops of war, and an armed steamer.
With this force an affectual blockade can be
maintained before three ports at least, viz:
Vera Cruz, Matameras, and Tampico, which
are the great doors of commerce to that coun
try. The general impression is, that a coer
cion of this kind will in all probability bring
'..WfsjERs - Waters. -Trade of Pills
burgh, t$-c. The Pittsburgh Gazette of Mon
day afternoon says: "The river, at nine
o'clock this morning, was about ten feet eight
inches in the channel, and falling. It will be
seen that there has been a large number of
steamboat arrivals since Saturday afternoon;
among others, we notice the Peoria, from
the Illinois river, with three thousand sacks of
coin, and the Paris, with fourteen hundred
bushels, from the M issouri river.
The. Wharf Master has furnished the fol
lowing list of steamboats in port on the 17th
of June, 1S39: 25 receiving or discharging
cargoes, 12 repairing, 8 new and finishing, 2
condemned Total, 47. Those at the Alle
gheny wharf are not included.
There have been recently very severe rains
in almost all parts of the country. On the
Upper Mississippi the rains were very heavy.
The Backwoodsman states that at Grafton,
Illinois, the quantity of water that has fallen,
is greater than ever before known in so short
a time, at this season of the year. The smal
ler streams are overflowed, and in many pla
ces the bottom lauds adjoining are inunda
ted. It is feared that many bridges are
swept away, and some of our farmers have
sustained serious damages. We have heard
of one man, who had a field of corn, contain
ing twelve or fourteen acres, entirely destroy
ed. The corn was literallv washed out of the
ground.
-Pennstjlvanian.
Steam Boat Explosions. Facts
for Reflection. It is often obsti
nately asserted by persons ignorant of th
facts in the case, and affecting a sort of
pseudo-noisy patriotism, that there are as many
explosions and accidents among British steam
ships as among ours, if the disproportion. of
numbers is considered. Now ours, with the
exception ofabom 20 tU. 100
the great lakes, are river boats, built of a light
construction and of a great power ofeugine,
being specially designed for speed; which last
object, indeed, is a paramount consideration
with all American steam boats, much more
so than the faithful workmanship, solidity
and durability .of the materials.
Our river steam craft to say nothing of ferry
boats, may be reckoned in round numbers at
6C0. The steamers of Great Britain, which
are all sea steamers, go on the coast, or across
the sea to the continent, and are, therefore,
subject to the roughest whether of the Irish
and British channels, Bay of Biscay and
German Ocean. They may amount to 100.
The proportion then in number is, as 6 of our
river boats, which always have the smoothest
of water, to one of their boats. It appears
by a recent carefully made-out report, that of
the number of British steamers- lost since the
year 1817, amounting in all to thirty, only
two exploded the rest being burnt or ship
wrecked. Now say two explosions to every
100 boats in twenty years, and we ask any
man in his senses if this fact, compared with
awful explosions among all our boats, say 800,
does not present an appalling result against
us, whether that result is imputable to ma
chinery, or to ignorant rash engineers.
The loss of life in ours, has been frightful;
and the numbers of boats destroyed by ex
plosion alone, to say nothing of 100 burned,
&c, have, in the last four or five years only,
been at the lowest calculation, forty, which
is ten a-year, or say one a-year for every hun
dred boats, i. e. the British boats (100) ought,
in four years, to have had four exploded, or
forty in 20 years instead of two only !!! .V.
Y. Star.
A DESPERATE CONFLICT.
A correspondent of the Illinois Backwoods
man, furnishes an account of a desperate
encounter between a boy and a dog, which
occurred in Calhoun county, Illinois. The
nearest dwelling was at a great distance,
and the lad had no alternative before him
but death or victory.
As the dog rushed upon him, he struck at
him with his knife, and at the second or
third pass, wounded, him severely. This
only rendered the dog still more furious, and
he rushed upon the young lad still more
fiercely. By thi3 time, the boy had become
more cool, and the success he had in aiming
his blows gave him renewed courage. He
now parried the attacks of the assailant with
more skill, and at every onset inflicted a
wound, which rendered him more and more
desperate. Victory still seemed doubtful,
for though the dog had received many se
vere wounds the lad also had lost much
blood, and his strength was fast failing. He
saw that his life depended upon giving the
dog a mortal wound within a short time, for
he felt that he could continue the fight but
a few moments longer. He cooily waited a
favorable opportunity, which happily occur
red almost immediately; and, exerting his
utmost power, struck desparately at the dog.
The knife reached his heart, and, with a
deadly howl, the dog fell at his feet, and im
meadlv expired.
The youth is considerably injured, but i3
in a fair way of recovery.
BRICK MACHINE.
We had the pleasure vesterdav of witness
ing the operation of a machine for making
uricis, wnicn is one ot ffreat lmreniutv. nnrl it
appears to us likely to supersede the old tedi
ous and expensive mode. The machine is
chiefly of cast iron, ponderous and strong, as
It is necessary it should be. for the work it
has to do-
Six moulds, worked bv a six horse nower
engine, will make in a common day's work,
20,C00 bricks, fit, without other labor, to be
set in the kiln. The only labor besides Di-
iuii the bricks, is that renuimd to diar ihp rl.iv.
v . ' 1 o J ,
aud haul it to the machine, where it is taken
by elevatorf, and passes from step to step,
nit i 1 1 U T. 1. 11 .1 I . : 'i t
ic uum 1a pusueu uy me macuiut; nseii
from the mould, ready to be put in the kiln.
ue aeptn ot clay in the mould oeiore the
pressure, is about 4 1-2 inches, which is
compressed by the immense wheight of near
100 tons, brought into action bv the toffule
joint, to the common thickness of two inches.
1 ne machinery by which the mould is filled, is
. l ii- - 1 - i : - 1
uiiwua auu enicieni anu its euieieucy is oniy
equalled bv its simnlicitv. The machine
now built is the first put up by the inventor,
and works well aud satisfactorily, so far as
has been tried. The material used was the
loamv soil m thevieinitv of Kensington, and
from this the bricks, as they came from the
moulds, were square, solid and ponderous.
The machine was built at the Franklin Iron
A oiks, James T. Sutton, proprietor.
J ho present machine is intended, we uder
tand for Baltimore. As thpv must have the
effect of reducing the cost of making brick,
nearly two thirds, and consequently, the price
of brick; we hope to see these machine in
general use. rlv.lad. U. is. Uaz.
THE GREAT AMERICAN OX.
This beautiful animal, which was exhibit
ed at several places, before its owner trans
ported it across the Atlantic to convince John
Bull of the fallacy of his belief that men and
animals in Amcrca are a diminutive race, at
tracts great admiration in England. A Liv
erpool paper thus alludes to it:
If Larl Spencer does not look to his lau
rels, Brother Jonathan will ere long pluck
them from his brow. We certainly had no
idea that his Lordship had such powerful com
petitors, as the. ox now exhibiting at E.sypt
tian Hall proves he iucontestibly has iu the
: t uari .Matfis. . . 1 he proprietor nas given it
the name of Brother Jonathan, and describes
it as the wonder of the creation, weighing
4,000 pounds, or 3000 stone; measuring in
length about twelve feet; in height, over the
shoulders, five feet eleven inches; and in girth
ten feet nine inches. It is six years eld, of
a beautiful dapple bay color, and was bred by
the Honorable Isaac Hubbard, in New Hamp-
hire. lhe animal is m excellent condition,
but not overloaded with fat like those monsters
exhibited at the Smithfield Cattle Shows in
December; of a breed somewhat between the
Durham and Devon, and in every point beau
tifully proportioned. According to the opinion
of breeders it might be fed to weigh fully a
thousand pounds more. Those fond of ex
hibitions of this sort will be highly gratified
by a visit to Brother Jonathan.
JVeics by JMcrils. Keokuck JIurdered.
All will remember this noble looking chief of
the Sacs on his visit to this city two years
since. He has been murdered by j oung
Black Hawk, in consequence, it is said, of
Keokuck having seduced the wife of a nep
hew of this young chief. This last stabbeil
Keokuck as he was leaving the tent of his
paramour. i lie event occurren l2o miles
west of the Mississippi. " Keokuck was about
50 years of age. Young Black Hawk was
also on a visit to New York, and will be re
membered by the sensation his personal
beauty created. He is 30 years of age, and
is now chief, and marching on the Sioux, the
inveterate enemie3 of the Sacs, with 2000
warriors. JV. Y. E. Star.
America Vespucci. Mr. Prentice is elo
quent on this lady, now at Louisville. He
speaks of her as one whose veritable history,
although she has just ceased to be a girl,
has been wilder than the wild fancies of an
Eastern tale one, whose hand has in succes
sion swept the chords of the lute with sur
passing skill, touched the canvass with a
power worthy of the great masters of olden
time, penned burning verses as beautiful and
glorious as the skie3 of her own Italy, and
brandished the sword like a crooked flame in
battle, midst the fierce shouts of the conquer
trs and shrieks and groans of the dying. 16
Treasures in the West. The Buffalo
f!ommcrcial Advertiser-, announces, under
its marine head, the arrival at that port, of
the ship Milwaukie, Capt. Dickson, from St.
Josenh's. with nine thousand bushels of
x
wheat, and ei?ht hundred barrels of flour.
-3 riD
This is but a foretaste of the riches of the
bountiful and boundless West. That vast
granery is jut beginning to unfold itself. ;
That fertile soil has but just yielded itself to
the harrow and the cradle. Hetofore Ohio
has been required to furnish Michigan with
hrpad stuffs. Now Michisran is not only
supplied from her own broad W"heat fields,
but is sending a vast surplus to our lvjetrop
olis! lb.
The United States Recruits, two hundred
and thirtv-two in number, who left New
York April 2Sth, for Forts Smith and Gib
son, have savelv arrived at Little Rock, Ar
kansas, with the exception of two, who de
serted on the route. 16.
POLITICAL.
EXTRACT FROM A PAMPHLET ENTITLED
THE SECOND WAR OP REVOLUTION:
Or the great principles invoiced in the
pressnt controversy between parties By a
Vtrgtman printed at the ojfice oj the
Democratic Revieie.
Concluded.
But the chronicle of their deeds is not yet
complete. After debasing the currency, vip
lati ng every legal or moral obligation binding
upon them; and while calling together their
liege subjects and willing friends to register
such edicts as they might prescribe iu the
premises, they had the audacity to demand
that the Federal Government also should con
tinue to receive their depreciated paper, and
retain the banks as the agents to collect,
transfer, and disburse the national revemies.
Entreaties, remonstrances, and, finally, threats
of violence and revolution, were resorted to
as means of intimidating the Executive, and
forcing them to accept the immoral, fraudu
lent, and debasing terms of the oligarchy.-
a he President pointed them to the Constitu
tion, which recognised nothing but gold and
silver as a legal lender; and to the laws, which
would receive nothing but gold and silver, or
their equivalent, in payment of the public
dues. But it was all in vain.
Men who regarded such obligations as mere
cob-webs, to be brushed aside whenever they
stood in the way of their advancement, could
not conceive how othera were so scrupulous
in their observance. Their clamor and de
nunciation grew louder and louder. They
even had the cunning and the adroitness to
cast on the Executive the odium of their own
acts. Having debased their paper below the
constitutional standard, they thereby created
two currencies the better for the Govern
ment, aud the baser for the people and make
the salaries of Government officers ten or fif
teen per cent, more valuable taan the same
nominal amount received by the people. This
odious distinction was charged oil the Presi
dent; he was charged with the design of ruin-
ng the people, and of fattening an army of
office-holders on their misfortunes. Happily
for the currency, however, the President was
possessed of a wisdom and a firmness which
eminently fitted him for the crisis of the times.
Ills duty was plain betore nim, and ne steaGi-
t pursued it. He directed circulars to be
sent to all the collectors, receivers, and dis
bursing ofTicers, cominaudiog that nothing but
gold and silver, or its equivalent, shall be re
ceived in payment of public dues, or disburs
ed in payment of public creditors; and when
Congress assembled in September, 1837, he
recommended a total separation of bark and
State a complete divorce of Government
from the embraces of the whole banking sys
tem.
This measure constitutes the second grand
epoch in the History of the Revolution thro'
which we are now passing, lhe high tower
of the oligarchy, their bastile of strength, had
been hurled to the earth. I heir thinking-
head and controlling will had been taken from
them; but with the instinct of self-preservation
they rallied on the thousand other corporations
prepared to their hand, seized the reins of
Government, and were well nigh overturning
the institutions, and crushing lhe liberties of
the people, when by one false move they stum
bled and fell. At that critical junctui e, at that
providential period, the President of the Uni
ted States, truly representing the feelings and
the interests of the people, lifted up the con
stitutional standard, and called on all who
loved their country to come to the rescue, and
save it from destruction. Until this crisis in
their affairs, the olig archy had always been
divided in their councils, and estranged from
each other in their feelings. Those who had
sustained the Bank of the United States were
anjrry with that portion of the fraternity who
joined in putting it down, in order to build up
their own petty institutions, and to usurp that
authority which properly belongs to a Nation
al Institution. The minor interests, on the
other hand, were always jealous and suspi
cious, lest the greater should agairf wrest from
them the power they felt themselves happy" in
having obtained; but the whole craft was now
endangered, llece at events had opened the
eyes of the people, and they showed a deter
mination to bring back that power which, by
the laws of nature, and by their own Consti
tution, was vested in them; but which, for
nearly fifty years, had been lodged in the
hands of associated wealth. In this state of
things the oligarchy were not long in coming
to their conclusions. They might quarrel
with each other over the spoils in the hour of j
triumph and security, but a common danger
from without would scon bring them together
for mutual defence.
Differing in no principle whatever, and
slightly only in the detail of their measures, the
one advocating a United States Bank, the
other a United- States Banking System, the
two wings of this great interest were resolved
that their little rivalries for power and for in
terest should not be an obstacle in the way of
a union against the common enemy. W hen
the proposition, therefore, was made for. a total
divorce, all petty feuds were buried. Pilate
and Herod made friends entered into a
close union formed an alliance offensive
and defensive, and have been ever since zea
lously co-operating to effect the same object
a re-union of the Government with the bank
ing interest. .
Notwithstanding the total failure of all their
schemes; notwithstanding it was obvious as
day that the operations of their own hand had
brought the calamities upon them, yet the
Conservative wing of the oligarchy insisted
that the specie circular had done all the mis
chief; patched up another scheme of five and:
twenty banks, without doubt, embracing the
old United States Bank, and urged that upon
Congress for their adoption. They insjsted
that Government should take it in their emV
braces place their confidence in it, and"
thereby restore confidence in the people. If
the Government refused to do this, they de
clared it would shake the credit of the banks,
and of bank paper; paralyze their ability to as
sist the energies of the people in recovering
from the recent shock, and postpone indefini
tely the possibility of resumption.
The Federal wiug of the oligarchy, who in?
former times, when this scheme was opposed
to their own, condemned and ridiculed i
weie now loud in its praises, and recommen
ded it as a panacea to heal the maladies of ther
country, The Representatives of the people,
however, awoke from the letharcv of lonfiT
years, refused to adopt any such system. Yet'
none ot tne predicted evils have come to pass.
Many of the banks findins that the Executive
resolutely persisted in adhering to the consti
tution and the laws, and steadily refused hav
ing any dealings with them or their debased'
currency; finding that their friends in Con
gress were not strong enough to force him
from that position; and perceiving that public
sentiment was rising against them, resolved"
immediately to fall back into their usual chan
nels of business, and commence the curtail
ment and redemption of their paper issues. -Mr.
Biddle, however, entrenched himself Be
hind his cotton bags, and declared that he
would not resume until theGovernment aban
doned its position. All the banks South and
West of him, being entirely under his control.
were compelled to follow his example. But
he, at length yielding to the considerations of'
interest, resumed specie payments that he:
might consummate a favorable contract with
the Government, which they refused to com
plete until his notes were made equivalent to
specie, and his vaults a legal depository, by a
resumption of specie payment. Again fol
lowing his example, all the banks South and
West attempted to resume. Now we call on
the people to bear ia mind the history of this
transaction to treasure it up as a precious
truth to be of infinite service hereafter. That
by a steady adherence to the constitutional
standard on the part of the Government, the
banks have been compelled to come up to that
standard. Their obvious design was to force
the government down to their level; to con--strain
them, as they had done the States, to
legalize bank paper, and to receive aud pay
it out to public creditors. Let us suppose,
for a moment, they had succeeded in the ac-'
complishment of their purposes. What would
have been the consequences? In many of
the Atlantic States bank paper was deprecia
ted about ten per cent. In the South and
West it was depreciated, in many instances.
fire-and-lwenty per cent. If the Government
then had consented to receive bank paper, a:
nominal payment of one hundred dollars in
the Atlantic States would have amounted to
ninety dollars when valued by the constitution
al standard; a similar payment in the South:
and West, estimated in the same way, would
have amounted to seventy-Jive dollars, a losst
in the one case of a tenth, and in the other,
of a fourth of the entire revenue. Public
creditors would have been in the same unequal:
proportions. Not to speak of the unconstitu
tionality and injustice of such a course, what
effect would it have had on the morals and
temper of the people? Every one would strive
to make the best of such a state of things, and
to derive from it all the advantages he could.
There would be the strongest inducement to
all the States to depreciate their currency as
much as possible, seeing that all have been
placed on the same level by the Government.
The constitutional standard being lost sight
of, and the bauks no longer required to keep
their issues within a certain ratio to the pre
cious metals on hand, would pour forth their
paper rags without stint, until one dollar in
silver would be worth a hundred, then two
hundred, then four, then five hundred, con
stantly siuking until finally the whole would
comedown a dead mass, and involve the hon
est farmers and laborers in utter ruin. Such
were the consequences of excessive issues of
continental money during the Revolution
and of assignats in France; and such would
have been the consequences of the measures
proposed and urged by the banks and their
friends at the time of the suspension Jlnd to-
such a condition are they resolved al last to
bring us. At no period of pecuniary derange
ment and disaster, was the disproportion be
tween bank issues and the specie for its re
demption greater than at the present moment.
The banks are immersed m a dent ot more
than one hundred and ten millions of dollars
abroad, which at a moment's notice may drain
the country of all its specie on a demand of
foreign capitalists. From a tabular statement
of the returns of the local bauks throughout the
United States, received at the Treasury De
partment, for the period nearest January,
1839, it anpeai s that the loans, discounts, and
circulation of the banks there enumerated, ex
ceeded the total amount of redemption specie
by four hundred and seventy millions of dol.-
lars: '
The necessary results are beginning to ap
pear, banks are suspending and blowing up
in every section of the Union. A sky-rocket
at regular intervals is shot into the heavens a
a signal of distress. Alarm and agitation
pervade the whole fraternity, and at no distant
period we may look for another panic and
general prostration. But notwithstanding
these threatening signs of the times, the bank
mania is evidently on the increase. We daily
hear from the State Legislatures, of new crea
tions of banks, and enlargement of the capital
I