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V - - INDIAN ALLAD w HOLLO WAT & DAVI3, Publishers. Volume XXV. Lead Us Not Into Temptation. AS AFFECTING COUBT INCIDENT. Law, though framed for the protection of soci ety d fre nil tife stances wherein honest juries have given u.oir verdicts conformable to the promptings of jus tice; and happily, when such decisions have not been tjo widely different from the expressed rule, tfc .iv have escaped from the appeal. We take pleasure in relating an incident which greatly enlisted our sympathies, held us spell bound by its interest, aud finally made our hearts leap with joy at its happy termination. In tl.e spring of 18 1 we chanced to be spend ing a few days in a beautiful inland country town iu lVnusvlvaitU. It was court week, and to relieve us somewhat from the monotonous in cidents of village life, we stepped into the room whore the court had convened. Among tie prisoners iu the box, we saw a lad but ten years of ago, whose sad and pensive coun tenance, his vountr and innocent appearance, caused him to look sadly out of place among the hardened criminals by w hom he was surrounded. Close by the box, and manifesting the greatest interest in the proceedings, fat a tearful woman, whose anxious glance from the judge to the boy, left us no room to doubt it was his mother. We turned with sadness from the scene to enquire of the olhoor of the prisoner, and learued he was accused of stealing money. The case was soon commenced, and by the in teret manifested by that large crowd, we found j of. mi admits of a construction adverse to u;e , maturity. , Vi rns of its Ic'islators; and m its application; logemcr, we riaie jjidtcu uuuj i iiuenMV tlctcaU tilC ODlcCt WLlCIl 11 was iuiciiu- iLi t-a i.dijua uict.cci, io 1. 1.. t. . , ( 1 J . ... , , -. . i T) i 1 tkmnffh cnn. kuiam. Vv e have, however, numerous m-1 nine gr ves. iuiou.'uimuiiuou'i 6--- thatour heart was not the only one in which sym- raent lor the Indians oi ti:e ec. pathy for the lad existed. How he pitied him! "This is a very abundant timber in many por The bright smile had vanished from his face, and j tions of Western Texas possessing some re-' now it more fully expressed the cares of the aged. maikable and valuable properties. It deserves I His young sister a bright-eyed girl had gain- attention. Although a very compact and heavy ( ed admission to his side, and cheered him with j wood and generally free from rot, yet the centre whisperings of hope. But that sweet voice, which , portion is generally shivered in circles often as j before caused his heart to bound with happiness, 1 near as two or three inch.es of the surface. It added only to the grief his shame had brought : splits with remarkable accuracy through the, upon him. ! centre, and, although a scrubby low growth, its j The progress of the case acquainted us with ' great durability renders it valuable for posts and the circumstances of the loss, the ernt of which! fencing material. A considerable amount of, was a dime no more! " I timber may be procured from it, and for furniture j The lad's employer, a wealthy, miserly and j there is scarcely any wood superior to k. It, unprincipled manufacturer, had made use of it, j takes a beautiful smooth polish, never shrinks, ; for a purpose of what he called testing the boy's although put together green. The color is at honesty! It was placed whore, from its very po-' first a bright brown, and with age assumes a Bition, the lad would oftenest see it, and'least 1 lighter bright brown. Perhaps no wood yields j suspect the trap. A day passed, and the mas- j greater heat than this when seasoned. The sap , er, to his mortification and chagrin, found the' portion is very thin, often not more than one-, coin avouched. . Another day passed, and yet j fourth of an inch thick. If the tree is hacked iu j his object was not iwomplished. He was, how- ( the months of June or July, a gum issues in con- j ever, determined that the boy nWW take it, and siderable quantities, and hardens from the action j so let it remain. of ,v.. Vnvinrr all the properties of gum; This continued temptation was too much for i arabio. The decayed wood ty ieu,- burnt m- him to resist. The dime was taken. A simple der cover yields a large amount of benzoic acid. nresent for that little sister was purchased with it. The buruinir of this wood iu stoves is very dos- liui wnue returning iiomc w s"" ; , t . , , , i. , i. . f ,i . i his otfn was J heavy by being arrested for ly corroded both by the heat of the grate and then: acrimethenatureof which lie little knew, j acid vapor of the burning fuel. To the soap -These circumstances were sustained by severalofj maker it furnishes a material of importance, his employer's workmen, who were also parties J The ashes, instead of containing potash, as most to the plot. An attorney urged upon the jury the j hard wootls do, are carbonic acid and aoda com n,.ssitv f,f "making the "little roirue" an exam-, bioud; nd by putting say a peck, and half a pie. His address had great effect upon all who , heard it. Before, I could see many tears pf sym- j pathy tor the lad, his widowed motner ana nis i faithful sister. But their eyes were all dry now, i and none looked as if they cared for or expected , aii"-ht else but a conviction. The accuser sat in a conspicuous place, smiling as if in tiend-like ex- ultation over the misery he had brought upon that poor but once happy trio. V f.-lt that thiTo was but little hope for the boy, and the youthful appearance of the attorney IiOv and lie vouiuiul ai'nea.i a ui uic nut-nit uuj.aim iiKi mu w iy j who had volunteered his defence, gave no en- coura-rement, as we learned that it was the young man's' maiden plea his first address. lie ap-! rtteire.l rreatlv contused, and reached to a aesK ; near him, from which he took the Bible that had j been used to solemnize the testimony. The i movement was received with general laughter j Liability of Steamboats. An interesting! and taunting remarks among which we heard j case has been decided recently in the U. States a harsh fellow close by us cry out: j District Court of New Orleans, A Mrs. Walsh j "He forgets where he is. Thinking to take brought suit against the steamboat H. M. Wright : hold of some pondrous law book, he has made a( for 8143, the value of a gold watch, a pair of j mistake and got the Bible." j gold spectacles, and 811 in money, which was The remark made the young attorney flush j stolen from the state room which she occupied j with anger, and turning his flashing eye upon while a passenger from New Orleans to Bayou ! - the audience, he convinced them it was no mis-j Sara. The suite room was properly fastened,) take, saying: I but was entered by some person, who stole the j "Justice wants no other book." I articles in question. His confusion was gone, aud instantly ho was' In giving the decision, the Court did not con- i as calm as the sober judge on the bench. ! sider it necessary to enquire whether the thief i The bible was opened, and every eye was upon j.was connected with the boat or a stranger. The i hin as he quietly but leisurely turned over the' fact that some person entered the ladies cabin on I leaves. Amidst a breathless silence he read the ! a felonoous errand, exhibited a want of that c ire ! jury this sentence: "Lead us not into Umtatijii." We felt our heart throb at the sound of these words. The audience looked at each other with out speakiug the jury mutely exchanged glances as the appropriate quotation carried its moral to their hearts. j . - j Then followed an address whi-h, for its pathet-j Enforcing a Liocor Law. The women of' ic eloquence, we have never heard excelled. Its j M-lclf ,aa Lavc a vory summary method of en-1 intlueuce was like magic. W e saw the guilty ac- foroiu , tI,e Liquor Law when the appointed min- f cusors leave the room iu fear of personal vio-, ister3 0f the jaw fa;i to execute it. Iu Otsego - . fence. ... j recently the law having been evaded, they turn- - Tno prisoner looked hopeful the mother j out, tl,;rtv stron r :inJ bactuJ bv nftr! smiled agan, and before its conclusion there was ; menf anJ wcat to wort iu a practical wav, ave; not an eye m the court room that was not moist i in ,.luJi t0 cxecute lhe law. Xhev niareho j to Ihe speech, atlecting to that degree winch caused. Uie ,KV,0l.icS and demolished tho whiskey bar-1 tears, held its hearers sped-bound. j wis;tfpniing out the whiskey. After serving two I The little time that was necessary to transpire ! groggeries thus, they proceeded to the village before the verdict of the jury could be learned, j h.ml and would have subjected it to the same - wa.1 a period of great anxiety. But whou their i sunimaiy process, had not the landlord had the s whispered consultation ceased, and those happy prude sice to pledge himself to abandon his illicit words. J'o guilty came from the foreman, they . trarhe. passeilike a thrill of electricity from hp to lip Judge Pratt, of the Supremo Court, it is said, 1 the iausura dignity of the court was forgotten .and has pronounced tho opinion (not judicially we! not a voice was heard there that did not join in ; presume) that the women ought to Lave'a re the acclamation that hailed the lad's release. ! ward for their bravery. The vounj lawyer's first plea was a successful' T1 ,. one. He was soon a fevorite. and now represents Gov. Grimes.- Ihe Lepuplcan trovernor of: his district in tin councils of the Commonwealth I owa ta bold grouiul, in his message to the ' The lad has never ceased his grateful rerriem- ' Loiallre' on be question of slavery. He i brances and we, by the affecting se?ne attempt-1 sas " 's a institution, aud that Congress j ed to be described, "have been often led to think i as no Powcr Prottct r esblish it. He says ' how manifold greater is lhe crime of the tempter i a'so " lal s'aver" k3 been legislated into the j than the tempted. - j Territories, and that it now devolves on the free j .. . .. people of the North to prevent its further exten-1 A Lover Still. "No looser a lover!" ex--,!!'?- Il, oxne1 ,ff.Iowa" jje J! ' elaimed an a-ed patriarch ."Ah! vou mistake' . -T , cm4..t the Missouri Compro-j me if vou thint h,a),!ntii.. K. J O w..vv vt. ' . I Tk... .L ,1 . -I , - . . vr .'K,r Mi 1 !..; , wed. yet I sm a of the msiden s ! uuus;ii mese suver nairs tall wrinkled, and a cheek all furro lover still. I love the beauty blush, the soft tint of flowers, the sinein2 bads, and, above all, the silvery rinij in the glad laugh of a child. I love the star lit meadows where the butter-cups grow, with almost the same enthusiasm, as when with my hair flying loose in the wind.'andmy cap in hand, years "ago. I chased the paints hnttarfi" t damp. T .l! 1.. rr .y V. 1 " j ...... ' "J , uu a 1.1 Li hut it .7Z V i i .J , care-worn, utit has ever held a smile forme. Often have -Be just I shared the bitter cup of sorrow with her en I t cn shai-d. it seemed almost swee t, "i ears of '; sickness have stolen the freshness of her life, but j tv, like the faded rose, the perfume of her love is, richer than when in the full blaom ot youth ana; snine v.e nave ciuni logemet, - -- sits there with her t-niuW, her cap quaintly frilled, the old style 'kerchief crossed, white and prim about the heart that has beat so lone, and so truly forme, the dimblueeye that shr.nkmg !ir'frrvnt the dad dav. the sunlight, throwing tier a parting farewell, kisses her brow, andj leaves on its faint tracery of wrinkles, angelic j radience. I see, though no one e.Le can, the( bright. elaJ, voung face that won me first, shine throu-'h those wiu.erel leatures, and the grow ir.rj love ol fortv years thril heart till the tears come. Sty not again I can no longer be a lover. Though this form.be lowed, God has implanted eternal love within. Let the ear be deaf, the eye blind, the hand palsied, the limbs withered, the b.aia clouded, yet the heart, the true heart, may hold such wealth of love, that all the pow- er of death, and the victo ious gruve, shall not be able to put out its quenchless flame. The .Mouuit Tree. A Texas naner contains the following interest- A A iwr account, oi mt; irv: ruiiLt-iniii v miifh has been said as affording a crum which it lis thought will prove an excellent substitute for rum arable, and the gettiug ot which it is be-, lieved, w ill, ere long, prove a profitable employ- j bushel would do no damage, of fresh burnt quick lime to the barrel of ashes, it will yield caustic j sodaiyeinat wiumah.o iue ei oi.aou. wmoi are very fond of the ashes, as they lick them up j whenever a tree is burnt upon the prairies. j Another use, it is probable, could be made of the j ashes; which is to scatter say had a bushel tnrougn j each load of corn as it is housed to destroy the S weavil. It would certainly do no mischief and 1 would improve the shucks. As a fertilizer there j is no doubt it would give valuable results upon ia no uuyu .4, uiiiii c.... "t,v .-,v i.ai i , d,0f (1, ' Worn - out soils, but it is not probable that the, ... .... . x , application wul be made for many years, lor the; soil upon which the mosquit grows is invariably tortile and ot irreat depth, -tins tree Deiontrs to the family of acacias." and watchfulness which should always be ob- ' served in the police regulations of every boat j 'engaged in the transportation of passengers, i The Court accordingly held that the boat was ; responsible, and gave judgement for the amount. claimed. ! . to lel lne wr snow mat she values thc . f ' ..O.v. vr Ss that compromise has secured to her,! aia,lLat she wul never consent to become a party I to lhe nationalization of Slavery." ' ! of- The citizens of Lafayette are not disposed to srive np their schools because the Supreme Court has de prived the authorities of the power to enforce the collection of the tax. They held a meeting recentlv in which they resolved and as follows: Rrsolrt-d. That a committee he appoint, d ; 1 wrd of the city, to wait on the tax pavers and see f they will not par the taxes that have been jed against them for school purnwes; although thev are not compelled to, by law. 7 and fear not: Let all the ends thon aims't at be tuy Country's tny UICILMO.M), WAYNK COltfTY, JANHAHV 12, 1855. Governor's lessajf. We have not room for the entire Message of a Governor, iu this week's paper, aad Lave, lberefuro taken from the Cincinnati Gazette the .... a, .W3 Tr i k? , iiji l' - m - ' i t - j tiuv ..wv.wj. ... ..- stump speech re-vamped at best, and oar col umns can be occupied with far more interesting rnaUc-r : ' The ordinary expenses of the State Govern ment the present year are 854,261.44, being only per capita, four and one-third cents for each iu- dividual. The value of taxable property in the State is -S290,418,143, wUsh is an increase m ten'vears of 8174,100,138. Since the year 1814, there lias been paid of the principal and interest of the Siale scrip, 82,274,705,92, and of the in terest on the S ate debt, 81,798,412,92. The Governor sajs : On the first day of November, 1851, the Stale dobt of Indiana amounted to 87,031,003:50. Of this sum, the State has liquidated the amount of 8227,864:50, leaving of the public debt the sum of 86,803,139, of which sum 81,763,139 ffmng two and a hau per cent, interest, an, the balance, to-wit : o,040,UU0 is ber.nng hv, per cent interest. Ihe . oura of is bearing two and a half per cent, interest, and e 684:50 ha ing been paid by the State, under the act ot the General Assembly creating the Sinking Fund, these stocks remain on the books of the ; Agency, the interest credited and applied annu- j allv to the reduction of the principal of the pub- . " lie" debt. Honce, so far as the interest is concern- Decrease in six months 84,734,475 00 ed, the stock belonging to the State is still con- The precise am't surrendered at sideved outstanding." ! the Auditor's orhce up the 1st The Governor reminds the Legislature that be- i of Jan- IC55 is ' 83,734,475 00 fore the next session the charter of the State i Here we have a withdrawal from circulation Bank will have expired, and he recommends the . in twelve months, and the greater part in four appointment of a Board of Commissioners to ' months, of 85,765, 1 23 00, or more than ouc half make a ettleuient with the Bank, and that the of all the circulation called money in the State, funds of the State which the Bank holds shall More than 3,000,000 of this circulation is de be invested in the bonds of the State. This is predated ; its value being at the mercy of the also the recommendation of the Auditor. , broker and speculator. The same facts, in re- ine uovernor Goes noi spare me owe , and Bankers of the State. In speaking of the law. he repeats the words he used two years ago, ; " that past events have clearly proved that the intercourse. How can any people have stability restrictions provided by the law are insufficient under this state of monetary affairs, to prevent abuses of the privileges granted." . We shall always have revulsions, expansions, He says a demand for eastern exchange caused a contractions, and derangement in the whole run upon the banks for specie by brokers and business of the country, so long as they foster others. It was a fortunate circumstance that the any system that makes promises to pay money, brokers came early, for the bankers in less than instead of gold and silver. If the inferior ciicu six months had issued more than six millions of lation were this day withdrawn, I have no doubt currency, and if the broker had delayed his visit we should fiud a sufficient-amount of the consti a year longer, there would have been a larger pa-' tutional currency among our people for all ordin per issue, which in the end would have increas- ary business purposes. ed the losses sustained by the people. The Gov- i Wo have not only a depreciated currency, ernor says : issued under the authority of the law ; but we "The practical operation of the law in many hf ve, a depreciated currency issued by railroad, instances has bten that the individual has not plankroad, and insurance companies .without the ..i,t. n,l ..nmmonpn th Imsm of .authority of the law. 1 housunds of dollars of banking to accommodate the commercial commu-; -nitv. but to borrow money for himself under the , uui ui uorrow money mr hhhm-ii unut-i uir i . . i u: if .u barely sufficient to borrow a few thousand business. The credit of the State, aud the in dollarsof stocks, have been furnished facilities un- .tercstsof the people, demand an abatement of Aar t.ha law tn Vn-rnmrt ban kern to the extent of millions. With the currency procured upon the first deposite of stocks, other securities have been purchased, and other notes procured, and thus a arfre cjrcu'jaton has I i 0f actual capital." beon created without a doi - He says the banks arc now issuing these bills J. .. - , . v-r. over their counties, without the ability, or, it is i ,i , ,' t j,: . behoved, the intention, of redeeming them ; that . i . r i i there are instances where proprietors of banks, -. rr .i e -i after suffering their institutions to fail, engage m ,i- ri- .t,- o o the business of buying up their own paper, at a, i J: . . L:u ..Lr the Governor. " in your duty to an outraged Peo - . . e , , - . , . - pie if vou fail to adopt prompt measures to sup t . i i k . i nws-: thit -nrnr-ti.-.v winch is nnr on r rninist nnr press this practice, which is not only uniust and j- . ii , . i. - me. j i , iiom iiiaKinir contracts or mananrinnr m property, disreputable, but subvcrsivojof good morals. , , ., , -7, ... . - . i - e 1 that the family of the same may be protected. We nve entire the remainder of the message i Ix ... , ' - 1 ' . , , 7, , i f i P He says that he will Hadly co-operate with the m the Governor s own words, so far as it relates , T . ,- - ,. , , tv vi-,. legislature in anv " constitutional measure for to tho r rcc jbanKs . .v. - . ,. ,, , r .i i the suppression ol intemperance. "The indispensab.e duty of protecting the j Agricultural Societies, and the Colonization people of the fctate from the evils of a deprecia- schcme are fovorablv nlen!ion,,j in the raessa-e. ted paper currency, requires that no special in- IIe recommends a geological and topographical dulgence should, under any circumstances be eiirvev of thc state, al-o the creation of a Bu granied to any banking institution that neglects , reau of Statistics or refuses to redeem its issues in coin. Anybank The (iovernor Iouc1j0S upon a varit.ty of topics refusing to redeem its circulation with the con- : chiofly of a Iooal cliaraotor anJ conc-lus idl stitutional currency of the country should be a haif.wav ut.ftns0 of s.iuatter Sovereignty." immediately wruud up. ao state ot tacts should aoi , l .r 1 1 ..1 . tin accessible place CI UOing business, that it Should redeem its issues promptly on demand, and tliat its proprietors should bo at least men of peeunia - ry ability, :uid that it should embark in no other than a legitimate bona tide banking business. And yet in how few instances have these requi- sites been complied with. L'nder the l -2ih and 28th sections of the law, it was undoubtedly competent for the Auditor to wind up any Bank not doing business at the p ace where us bins were payable To give more ethciency to this prov ision, and to make the duty a . a- T ii i imperative upon that officer, I called the attention -.i.,t :., . .i i . , of the Legislature to the subject in mv last an- i .- v . v - c -i -i nurd communication, but havinar faded to pro- , , , - , t cure tho required legislation, I renew my recom- , - 1 .t . . - mendations on this point. The great error in the law. is, that the entire resuousiuiiiiv oi me svsiem is piacea in the . . .. r .V . .... 1 i i i ,- , i- -i i i r hands of a single mdividual, and he an officer of c. , i ? i i , . . the SUato already charged with duties and trusts of the most important character This k. 1 1...- i . i.. r .1, i... uc -"oej. u. ju-.im auy uaai iu Closing me ou- (er that ,t ,s narj . & T 1 1 V 1 V 1 & i r t, U, .,. bi 4f V6ry S ,-V aiI - yxaS at- We regard, on the .o.o. to tue o.o,.ei si-ecuiaior a nan a3 a very sensibl. straight-! , iviuiii;:, . me ut-i.t, t.oLit.iLiues, neiier nu mi.re it , ulmnct -.l,,ct,- -I it- , ,iuiimirii oeionij i-i ii. e K-iriMaiion oi me oiaie. 3 hirers and business men of the country. ; The most (mporta art of the m c is that The law used is not only glanngiy defective, ; whir-h rUu- tth T-v.,- nL- miuaiu iruiis : .urn aia s at tue expense OI 1 .,mt m,M, -. .i - i .. : c... but tho construction given to it, and consequently Jof which we bave iv(m in lhe w(;rJs of th the practice under it. It was evidently contem- message. It will be seen that tho views of the pla ed by its framers, that no bank should be cs- messa are neary ilIoillical willl li)?e which we tabiisned with a capita, of loss than fitly thousand have from tIme u' timc eXpre5SCd." dollars, that it shou.d have a convenient and : 1 uiJiviJual determines upon the validitv of the':v--., f tl j 1 w vu , "u - r. . - : mvc-terato was the dt-maad for ctm and m,tKmT orgHnizouou. me dtaracter ana ue ol the &LtCKS, ji&ua lilt uica-tuou, lAOio. Llie Si'CUrlU-; judgment. With a bond of onlv AlO .lairt the custodiau passes UDOii the correctness of the renorts. a f. r , r-- oiitrreu r.. u laosd woo J ot their paper, were toid in "'r,' T i ' .nium- i promised to pav dollars, an ed with the banks according to his own unaided i i, ,.i j .1 ;,nf na,.iiiin.n;ni t ' ". ed and aimost unheard ot run, continued to m lauof near & 10,000,000 of tne public i t. t! ;t A ' ur m securities. mc -opte, j .ov. mCtr IO pro- it 11 1 1. o ucw 'u ut uie 1-- iji.i.tiLii to con- i- 1 , . f t : ,1 1 . . ... ? - , 3 . , bands ot brokers and bankers, who continued to tmue this system, in my judgement it will be j ort and wnd lUi lhe b necessary, ia order to secure the confidence ol ; j.m,,u,t k ,vlm ; . 1 if .1, j ,.: . .-.r t, t:.!.. vide lor tne organization 01 a iiank department e .u . . , ., p. 1 r. 1 r- - r tary operations of the estern country. A lar-e Willi a Board ot bank Commissioners, with full kL. ,t v., 1 4 v 1 - . 1 . - .11 ,- "'""t number of bankers and brokers in Cincinnati powers to determine upon the locality of the i v,,j v 1 , uatl t, 1 .1 -. r . "7"v yl LLic 1 who had supplied themselves in a ereat measure Bank, the neeessitv for ius creauon.the solvency ' T .1 ' : ,j - , , s , T , of th, murines ottered, and wh., Au .l S ' 3 ieb?Se r co,n drawn fm Indiana charged with their custody -i aiv I also recommend that, inasmuch as the term of the present incumbent is about to close, a committee of the two Houses be appointed to investigate fully the condition of all matters per- 1 taming to the Banks connected with the Office o f j cious metals, and at Cleveland, Columbus, Cir- j The securities of no bank have been lessened Auditor of S:.-?. A full report will doubtless do : cleville, Toledo and Sandusky, banks which had ! in auy instance, but where parties, by agreement much to allay the apprehensions of the public, j hitherto been in full confidence, were also brought! have surrendered notes and taken bonds. Care and establish confidence wherever merited. j to suspension, and their notes to a very severe J has been taken to give the least valuable secut i- The valuable and interesting report of that . and ruinous rate of discount. Chicago and llli-) ties first, so that no deterioration should ultimate officer will present you in detail the operations of ' nois generally, were next the theater of the ef- j Iwjaccur.; , the Free Banking system in his hands. ; foots of this combined demand for eoin, also, re- j Where banks hare failed or may fail to protect It will doubtless be the policy of the Legisla- I suiting in the failure of several banking houses, ; or take up their notes to the satisfaction of hold- ture to provide for the immdiate closing, and and a depreciation of their notes. The fact that j ers thereof, I have determined to collect the ac- withdrawal from circulation of the paper, of all j the notes of the Indiana banks, under the Gen- jcrued interest upon their bonds, and reinvest it ;such institutions as persist in the violation of the 'era! Banking Law, were secured by interest pay-! in additional securities, to strengthen the fund palpable provisions of the law. ing bonds ol the several States of the Union, I for the redemption of their notes by the action of In doing so, due regard should bo had both to tbe juterests of the people and of the banker, so 1 as to prevea- undue excitement and apprehen sions on the one Land, and loss and insolvency on the other. A contrary policy might involve the solvent with the insolvent, the upright man of business with the dishonest and corrupt. With the sta:e of things we have had for the l;vt year it was not possible to avoid revulsions and monetary excitements. Circulation of the Sta Bank in Oct. 1353, was Circulation in Oct. 1854, 83,834,765 50 2,803,643 00 Decrej.sc, The Stock Bank circulation July 1st, 1851, 89,299,575 00 5,565,099 00 l,0O0,0H 00 Circulation Jan. 1st, 1855, Estimated ani't in the hands of Bankers no in circulation """ although, perhaps, ,:, less proport.ons, in the adjoining States with which we have comr mmerciai this latter kind of depreciated paper have been """own inio circm.nion, ana ieu 10 represeuu thrown into ciniii .inon. and it-u to represent -- - . ' . - . a: .:, r tins evil. '' The Governor speaks well in regnrd to popular ! education, and ot the good etJecU of the common i school law. . J4 refers to the late decision of the 1 "r. . "- unc,. uv men a poruon ,ot the law was declared unconstitutional, and I tl,!rl.-c (lii T .:... -V . . l- t1(- . -f t , 0 " ll' . u,lu I cullies ; it not, he recommends an alteration of , r ' n i V, " tne Constitution. He recommends the State T-- , f . , . , , University to the favorable consideration of the . - uio u"- -oii me t--egislature. lie recommends the passage of , r ,, . ,. , , 1, . V , laws for the better observance of the Sabbath, T. . ,. , .. ' "c At ,s difficult to define the exact position that ! ,tll Governor holds in regard to the Temperance law. lie fiirhts shy of the Maine Law. ITe ' T " u,u"",u l u uisquaiuieu 1 1 t .,t . .1, t .1 ! 1 .... .1. . j - 1. . .1 T f- 1 ahhou3h his remarks are of so wneral a charac- !e what he is really dri- i wiiole, the message rward State paper. ... . 1 ,1 Hi ,11 , , IJIlil.lK U LO 1 11 1. 1 Li. I H litt.il From thn Indiana Journal. ; Auditor's Report Free Banking. ! Wo are indebted to the Auditor of State, Mr. : Dunn, for a copy of his AnTiual Report to the s Legislature. As 'the question of Banks is the ail absorbing one at the present time, we place I before our readers that portion of it which speaks I of Free Banks: free banking j The duV;es of tbe Audko . tU BmVlnrr d , lmeltt of Lis 0& baye bQ im. .o.,. i.av i -i , t- Ji portaut, laborious and responsib e. From about , ,hl first Ma u. . f,.J w, f the nrst oi Aiay last, ifom several relative causes, v. , , i ,u c- . c- , a neay run conimence-J on the State Stock u. t i:, r ,. Aj.hn. - ui .uuiAiia .i v-.'.ii. x iie scarcu v ana ae- m r. v . t.- i 7 . , , ,c i mand tor Jus;rn Lxchansie, which yielded a I sufiicieut profit to the brokers of our neighboring cities to induce them to collect and assort the , ,.f w..i.. ., j . i vs iau?, ana to seiiu mem nome in i, c,- f t , , i large sums lor redemption m coin, caused such a . i, nrv. ,1 "lu mtu ,-yt.ic s to t'lt? lll-m trrpar tiniih hi t . LoAn on s I w. . I 1 J C- , but TOilu lhat man y of the Banks w hich had pro- with Eastern Exchanze and 1 .. b' presented lare amounts reply, that the notes d that exchange would ! , , , -e.u. xmS unpreceuem- T l : ja - - S4 1. CiA.I.V UtTrVrU k Vl lhose banks declined to furnish to the numerous A crUis then showed j j, ,1 . . 1 K.ni" s Bnnpr thpir f, ry: 1 n . r cvstm , -. , . in , n tic t ,-rji - pelled to suspend business, when they could no longer use Uie Ir-diana Banks as the fountains of their existence. Indeed, several of the Ohio banks, in other cities than Cincinnati, felt the same want of a place for the supply of the pre- VAt. X-i cm.i -- v T VI l7 Ui IU CLTV IT7 . iiod's and Truth's." and in many instances bv the very best securities: that any State issues, seemed to be of no value in j the estimate put upon their notes by the public. iv general depreciation ensued, lhose banks : which continued through all the pressure that; : was made upon them, to redeem in coin, were j 'alike discredited with those which had refused to ; pay to brokers, bankers and their agents. There j a legitimate and regular manner, provided the are many banks in the State, which have rigidly , action of the legislature be such as to permit them . complied with the demands made upon them for I to operate without embarrassing and impraetica , specie at all times, when they might have saved J ble restriction. , ' or made much money by refusing to pay, and by j It is obvious that the existing banking law rc 1 surrendering bonds to noteholders. j quires careful revision and amendments. Added to the disorganization of financial af-j Ihe great amount ot capital which has been 81,031,117 50 ;fairs in the West, and at the same time, an unu-' invested in banks in the State, should be per sual stringent state of the money market in New ! mitted to remain, if it be content to remain upon ; York and the other great commercial eities in the j terms compatible with the public interest, and Kast. This tight condition of the money facili- j that interest can only be properly protected by re ties in the East" leing the point at which all heavy , quiring the most certain and prompt payment of i transactions in State Slocks and bonds are usual- all the notes of every bank that may be allowed lymade, served materially to depress Indiana j to issue bills. Stock secured paper, for capitalists could not be o security should be taken upon any other ' found who were able and willing to protect the j pretext or basis, thau the absolute intrinsic value ' paper to purchase the State bonis which secured j of such security. Five per cent, and six per it, unless they were sold at unreasonable depreci- cent, bonds should only be estimated at the rela ! ation and loss! , tivc value between them, without reference to any The excited and unsettled condition of Europe-1 fluctuating condition of the market, which may an affairs seemed, at this crisis, to be also unfa-j be ma le to vary according to the cupidity and vorable to the Stock market of New York, and ' stock jobbing schemes of those who expect to ! there was a consequent falling off of foreign or-' profit by ephemeral prices or fictitious or fancy I ders for the purchase of State Stock. The large j rates of the stock market. i amount of those Stocks which by the redemption 1 The reliable character of the State, and its of bank paper was liable to be thrown upon an al - .i t i ,i,. I Z ' " , "i V V"- " .1 - .-i- ' law, to be forced Tor sale tor what they would or. 1 mi'ht bring, much loss must ultimately result to I the public by an insufficiency of the securities to meet the issues of the banks. It a bant lias j oi a permanent . cuaracier. ajiwi. u. miouiu do notes out to the amount of one hundred thousand j subjected to the ordinary rules of banking busi , dollars, which were issued upon an equal sum in ' hess. It should bo kept open at least five hours ; State bonds, if these bonds be forced into market ' in each day it should have -i due portion of re nt a loss of twenty per cent., a deficiency of twen- i sponsible stockholders it should never be per 'ty thousand dollars must be the result, which j mitted to suspend specie paymeuts except upon i sum must fall upon the note holders, if there be . the forfeiture of all its franchises it should give i no other assets or personal responsibility. ; such undoubted security as to availability and To avoid such a state of things, I resolved, af-; value as would leave no apprehension on the ( tcr due deliberation, to exercise such power as mind of tho bill holder of its ability and certain was conferred unon me bv law. to five as much ; tv to pay the last cent of iu issues. It is sug- 1 opportunity as the emergency would allow, for 1 re-action in the money markets, and to give op-; ' portunity to forcij-n" capitalists, through their friends in this couutry, to make orders from! 1 abroad. It is mv belief that in thus acting un- ' der the law, the bill holder was benefitted, and the interests of tho bond owner promoted, and, that at no distant day a heavy foreign competition in our own markets will bring our State securi I ties back to their face and to their full value. In ! order that all persons interested in these results should be placed upon a footing of equality, I ' published a circular dated on tho first day of No : vembor last, and which is in these words, to-wit: 1 The circular we omit, having heretofore pub- ; hshed lt.J So great has boen the commotion throughout, : the whole country, on the subject of money and j venient and proper point in the State, where tho currency, that the history of the times has mark- several banks will bo compelled to have their pa 1 ed it as an epoch. Tho whole effect may not , per redeemed in esstern sight exchange at a rate i yet have be-n felt, nor the great results known.' j varying from one to one and a half per cent., The circulation or issues of the banks organ i- where bill holders maybe disposed to receive 1 zed under the security system of our general ' such exchange at such rates. A plan similar to : banking law, was on the first of May last, near nine millions of dollars, since which period, and up to the 1 5th of December, there has been can celled and destroyed of said amount, near the sum of two millions, eight hundred and fifty-four thou- sand, two hundred and seventy-nine dollars, thus ! reducing to loss than six millions, at that day, ' since which time the work of redemption and ! cancellation is still in rapid and extensive pro ' gross, giving almost positive assurance that full ' live-sevenths of the whole amount ever issued, ; will be retired before the first of May next, which ! will leave but about two millions in circulation or existence at that time; provided the same unfa 1 vorable course is pursued by the public in de- manding coin for every bill which falls into their 1 hands. In such a contraction of thc circulating medi- um of a State, so vigorous, industrious and en- terprising as Indiana, much embarrassment and , difficulty must ensue unless some other and better circulation shall fill this sunden vacuum. It will bo one of thvTnost difficult and impor i tant duties of the Legislative department to de I vise a system which can furnish, on a safe and ; reliable basis, so large a sum, or a sum sufficient j for tho trade, business and commerce of our I people. The want of confidence, now so gen I erally diffused, in reference to banks or bankers, i will make it exceedingly difficult to organize any ! system of credit, as represented by paper promi 1 fees to, pay, which will command the confidence of i the public. . . . - . ... If bank notes issued upon the stocks of States ! which have never failed to pay the interest as it j became due upon their bonds, with the addition al securities of personal responsibilities, in many cases worth more than the whole issues of the bank, and the whole specie and assets of the bank , faithfully applied to the redemption of their notes, 1 are insufficient to inspire confidence in the safetv ! ahd value of the paper, then indeed it would seem to be very questionable whether any system 1 ! of paper currencv would be regarded with pub- he lavor. Indeed, loose bants wnicn nave been mo-t prompt and unceasing in the redemption ; of every note as it is presented, have met j ing remains but the lees. Tbe warm sympathies ; with but liitl-' more favor than have those who of his heart have been chocked by the inexora- ! - .1-11 J .1 . 1 1. t 1 11,. .. . . ... . r conveniently auowea me un.'iers, uansers ana ' other bill holders to take what they can get under i the compromises of parties or the strength of the !i . if ,1,;, t .,,1 1: ., ca .1.- j. . w. ' jauw wuuueutc, uiis ue- ' sire 10 maKe traae and iramc 01 exchange and ot j cola snail continue, and whatshau abate ilf what hope is there that the old system of mere coofi dence banking, with power to issue two or three 1 dollars in paper for every dollar of specie in their vauits, and in many cases nve dollars to one in coin, can ever again obtain favor, countenance or confidence among a people who can compare the advantage or disadvantages of real security and nominal words of confidence. It is true that tbe paper of the Indiana Stock Banks has depreciated under the general panic, and ha3 been sold at a loss, but to all who took the trouble to read and to learn, it was always manifest that there was no great necessity for large losses. Whilst on. the other hand, old and respectable confidence banks which failed in Ohio and elsewhere, were so little Hpheld by public opinion and the protestations of their officers, that their notes fell almost val ueless in the hands of innocent holders. TERMS $2,00. IN ADVANCE. Number 4. compound interest. It is quite probable that a number of the ex- isting stock Banks will voluntarily close their op erations and finally wind up. Several have al ready signified their intention to close, and are engaged in redeeming their issues. Others have made their arrangements to continue business in ; ability to pay tno interest upon its Donus, snouia for,,, tW .Irhmal estimate .Y their W x "f " " "r a T.. , . A, . A, , ... mane xo me present law which seem 10 nuraei general attention. It is conceded that every i bank should have a location and a business house agesiei, as to location, to prevent the practice of st -loot ing remote and unknown situations, that no bank should be located at any point which elocs not contain from two to three thousand perma nent citizens. That an amount of from twenty to twenty -five per cent, of securities, over and above the amount of bills iu good interest pay ing bond, equal to six per cents., or in good re al estate, valued at' a two-thirds value, without reference to the improvements of a perishable nature thereon, to bo appraised by disinterested appraisers, under oath, in such 'manner as simi lar real estate is taken in security for the trust funds of the State. ' It is also respectfully suggested to require tho establishment of an agency of equalization or re- demption, at Indianapolis, or at some other con this in principle. Is in existence in New York and in Massachusetts, and serves to keep up uni form value of the notes of all the banks, howev er remotely they may be located. If, under such a regulation, bill holders refuso to receive exchange, as before suggested, then thn bank upon which they may hold bills, should have such reasonable time as maybe just to fur nish and pay coin. : : th these and such other improvements as experience aud the . wisdom of the Legislature may indicate, it is confidently believed that a very useful, safe and necessary system of Bank ing may exist, capable of resisting the effects of jianv-s and pressures, and of affording a circula ting medium which will have credit both at home and abroad, and which is absolutely neces sary to the business wants of our enterprising community. Whilst I have never been the advocate of any system of banking as being better than the use of the precious metals, I- am free to say that I think the day has passed when the people will be willing to create or sustain any other system of banking than that which is based upon the most positive and available securiies. The Auditor also calls the attention of the Le gislature to the fact that the charter c the State Bank will expire before another Legislature shall convene, and that it will be the duty of ihe pres ent Legislature to make some disposition of thc interest of the State in that institution. He also gives the statement of tbe Bank, made by its of ficers, on the 31st of October, 1854, which we have henetofore published. He recommends that a board of commissioners, unconnected with the present business of the bank, to make a final set tlement between it and the State. ?, Marine for Money. . . , .. , . . ,17-5 : We pity the man. who wears, out his energies in the accumulation of riches, ' which, when a massed, he will have lost the capacity to enjoy. He finds himself at the end of his labors, a truest at hi own feast, without an appetite for its dainties. The wine of life ia wasted, and noth- ble soint or arance. ana tner cannot be resusci- P' tated. The fountain head of his enthusiasm is sealed; he looks at all things in nature and in art with the eye of calculation; hard-matter-of-fact is the only pabulum his mind can feed on; the elastic spring of impulse the poetry of exis tence is gOTJi. ;irti" . I ' Are wealth and position an eqtiivalent for these losses? In our pinion there ia little to choose, on the score of wisdom, between the in dividual who recklessly squanders bis money as he goes along, in folly and extravagance, and the false economist who denies himself the whole some enjoyments of life, in order to swell the treasure, which in the hardening process of scra ping be had become too mean to spend, and too selfish to give away. s The only rational way to live, is to mix labor with enjoyment a streak of fat and streak of lean. There . is, nothing 4 like ,a streak-life a pleasant mixture of exertion, thankfulness, love, jollity, and repose. Tbe man who slaves for rich es, makes a poor return to that God who created him for a better pnrpo - Jfottffomcry Ledger. -it t i f 1 : i It -I .