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THE NEW ERA. What is it hut a Map of busy Life ?— < ou'ptr. POR™U)iTH,Va. SATUKDAV, DECKM UKIl I* is Its. OUR FLAG! THADK-LOW DUTIES—no DEBT—SE JPARATKJN from banks—economy—ke Tnfc*?,?i.I«ENT—AND 8TR,CT ADHERENCE IO THE CONSTITUTION. VOLUNTEERS. Recollect, Fellow-Citizens, that a MFETING will be held THIS EVENING, at 7 o’clock, at the Town Ilall, preliminary to a per fect organization of the Corps. A general attendance ol Citizens is earnestly requested. BOOKS FROM THE HARPERS. Messrs. I lodges & Co., hare again laid on our table the usual supply front this laboratory of lit ernture. which we have barely time to notice. No. 13. of that excellent work, the Pictorial History of Knuland. Nos 122-124 of the Illuminated Shakespeare. Lneretia ; or the Children of iYight. This is No. 90 of the Library of Select Novels, and is from the pen of Sir F. Bnlwer Lytton. Salkeld’s Classical Antiquities—a compendium of Grecian ami Roman Antiquities. F.lectio Moral Philosophy, prepared for Liiera ry Institutions and General Use. By Rev J R Boyd. ICpRev. Mr. Corcoran, of *• Key West,’* will preach in the Catholic Church, to-morrovr. nt lOi o'clock, A. M. INCOR[’ORATION MEETING. At a meeting of the citizens of Portsmouth, free holders and voters, held at the Town Hall ! on Wednesday evening, 9th instant. John Cocke, 1 Esq., was called to the Chair, and Or. J„hn P. Young chosen Secretary. The meeting was briefly hut pertinently ad dressed by several gentlemen, when on motion, made and seconded, the Chair appointed a Com mittee to prepare a Memorial to lie laid hef.re the Legislature in order to obtain an Act for further incorporating the Town or Portsmouth, as fol lows. Committee—A. F. Cunningham, Wm. I. Cocke. John W. Collins. James M. Binford, and Bernard O'Neill, to which the meeting added the Chairman and Secretary. On motion it was, Resolved, That the proceedings he published ’ in the papers of Norfolk and Portsmouth. I he meeting then adjourned to meet next Wednesday night. JOHN COCKE, Chairman. Joh> P. V ourrrj, Secretary. MEETING FOR VOLUNTEERS. At a meeting of the citizens of Portsmouth, held at the Town Hall, on Thursday evening the lOil) inst.. the meeting was called to order by I)r. John P. Young, on whose motion. Capt. James Jarvis was elected Chairman, and E. T. Br..\ mire appointed Secretary. The chairman in a neat and oriel' address explained the object of the meeting. Dr. John P. Young prefacing them I with a few eloquent and stirring remarks, then offered the following Preamble and Resolutions, whicn were unanimously adopted : W hereas, the President of tho United Slates has thought proper to call upon the Slate of Vir ginia for one Regiment of Troops •* to serve do ing the existing war with the Republic of Mexi co.” And whereas Gov. Smith has issued his Proclamation in response to said call, therefore, he it Result ed, That we. a portion of the citizens of Portsmouth, in Town meeting assembled, deem it highly important that this section of the Old ! Dominion should furnish at least one Company for such Regiment. Resolved, I hat an occasion now presents it self to our young men especially, whereby they may not only exhibit their patriotism and devo lion to their country, hut add lustre to their names, and we call upon them in the name of our Common Land to avail themselves of this bril liant opportunity. Resolveil, 1 hat a Committee he appointed by the chair to receive the names of those who feel disposed to become members of the Company proposed to he formed, and that said Committee he empowered to make such arrangements as they may deem expedient. Resolved, That the citizens of Norfolk and vicinity ho requested to co operate with us. Resolved, I hat what is to ho done, most be done qun kly. l/ommiilee under dd resolution, Dr. .T,.|hi P. | Young, I C. S. hnitlfiplil, Dr. Win f. Cocke, Jjs. j K. Wilson, C' l. VV’. Wails. Wrn. i\1 I,i>vy, ,J. .f. Clark. .1 W . Collins, W. C. Boiler, G. C. Bourdelle, Jolm l.appin; and on million, the Preniden: and Secretary were added In lhe Com mitiee. On motion ii Mas Ilf solved, Plint when this meeting adjourn, ii adjourn-, m meet in this place on Saturday even ing, at 7 o’clock. Ilcsoljc(/. That the proceedings of this meet ing tie published in ilie New Era, and the Nor folk papers. On motion the meeting then adjourned. JAMES JARVIS, Chairman. E. P Bf.A.MiRE, Secret any. 8HI.000 APPROPRIATED. \\ e rejoice to tell «ur brave Volunteers ihai ihe Legislature of Virginia have already, in holb Houses, voted an appropriation of $10,000 for the support of the Virginia Volunteer* until they are mustered into ihe Service of the United Stales_ The following bill, repined front the Committee on Military Affairs, by Mr. Watts, on Thursday passed through lb* bouse of Delegates,ha ring been sustained by Messrs Watts, Leake, Dorm in, and Bociick, and opposed by Messrs. Lapuf.r and Stme. We know who Lieut. Syme is, ami in virtue of his military commission, we allow hirn to criticise the Secretary of W’ar. vthw acts, so far have elicited the matured military approbation of the world, hut we do not know Mr. Lanier, of Pittsylvania. Who in the name of wunder is Mr. Lanier, who stands in a glorious minority of one, against one hundred and twenty three 9_ Lieut. Syrne backed out of the opposition on ihe ▼ote. At a quarter (o 2 o’clock, ihe Senate re aesern bled, and rereived fn>m the \louse, by Mr. W'ntta s bill passed by that body, providing for the equip menl and organization of the volunteers called for ! ("iom \ irginia by the i>encral ^nveriiiiipni. ami ap proprialing §10.000 fur lliat object. The follow ing; in a ropy ; An Arl providing f,.r the p«v and subsistence of die Virginia Rr{iinrnl of Volunteer*rallt*«| into ill** Rervie** ..I ili#» United Smti'i, under a rcqni silion of ilii* President of i|i»* United Stall s ul ilo* IC'li of November, I8IG V\ heieas :i rnj lisiiion has been made upon the j Governor of tlos Commonwealth by the President i "• • lie United Stales f..r one Regiment of Infantry | Volunteers, in serve during I|»c* war with t|ie Re (Uildie of Mexico ; and one H illation of said Regi ineiii lias been required to rendezvous at the eiiy ot Richmond, and I lie other ai Guyamloltc. And whereas hy an order of the Secretary of War of • lie I. filed Slates, ilu* troops ilius required will not be mustered into the service of the United States, except by battalions ; and in order to fur nisli said troops wnb pay and rations, until thus mustered as aforesaid ; Re it enacted by ibe General Assembly of Vir tjima. 1 bat whensoever a company of volunteer* shall have the requisite number of rank and file, and shall proceed to elect their company officers, ff' in the time of sai.l election. each company thus to’iued ami organized, and subsequent!V mustered into the service of the United State*, shall he re garded as in the serv.ee of the Slat** of Vircinia, subject tu the rules and articles ot war for the gov ern.. of the Army of the United States, and •d. ill bn entitled to tin* sa* .#» pay and rations as is allowed by law to officers, non commtssioued offi cers. and privates, hi tin* infantry service of the L nited States, until mustered into the service of tin* United Slates. lie it further enacted, That in order to enable the Governor ol this Gotniiiuii wealth to execute the provisions of this act, a sum not «*xceeding ten thousand dollars be ami the same is hereby appro priated. nut of any money in the Treasury not otherwise appropriated. I his act shall be it. force, and take effect from ■ lie passing thereof. PETERSBURG. \\ e are told liy the last Petersburg [>ul>lloan ilial an effort is making to raise another company of volunteers in that town, and that several names had been enrolled. 1 lie same paper mentions an interesting inei dent. A lady nt iliat place who lias heeii for some time confined to her couch by indisposition, desired a gentlemen n, vi-ii her. and made known her anxiety to do s nnetlung for the gallant young men w ho had volunteered for the war. *• Sir,” said she, '• I wish to have the honor of contribut ing to the purchase of the Flag which is to be presented to the volunteers ; and, inure, if there is a young man in that company who is about to Itare a poor, tcidmoed mother beliiml. tin ftt me knnir her name, ami / will take cake or her while he is away A numher of the meinhers of the Petersburg Volunteers have been presented with Hemducrs, to serve as bmly guard—and Messrs. Ro. T. La in h and .1. A. II. Lowndes have presented to La pi. F. II. Atelier and Orderly Peyton Pollard, each, a handsome Howie knife for special ser vice. GRAHAM’S M A GAZIN F., FOR JANUARY. This work, after having been withdrawn from our “ exchange” lor some time, made its appear anee on our desk yesterday, with a reipiest from the publishers, that we would notice it in such terms as we think it deserves. We have taken all things into consideration, and concluded to do as desired, although we do not think the editors served os quite decent in cutting us off as they did. We are of opinion that this is one of the most heautilul and pleasant magazines of the day, containing as it does milch light reading of a su perior order, and always embellished with a splen did fashion plate, and several richly finished en gravings, both on sioei and wood. To those I,a dies who adore their tables with this kind of peri odical, we would recommend this monthly for its perfect finish and execution in matter and man ner. Single Copies |3. Two Copies $5. Five Copies $10., with a handsome souvenir as a p:v in in in. OVF.R ON TftE WRONG SIDE AGAIN. We regret to see that our old quondam friend, Dr. Francis Mallory, has been announced hy the Beacon and Herald as a candidate for Con gress, at the ensuing election in the Aceomark District. We believe that Judge Bayly has not yet determined to leave the field, and we hate to si e a man, whom we personally respect, as much as we do Malloiy, made the stalking horse of whiggery. to receive tlm disgrace of a defeat which will certainly attend any one who runs against Bayly. SO M F/n UNO A STONI SI IING. The Richmond Junes of Dec. II, gives a gra »hie description of a visit hy one of the editors to the Clover 11:11 Coal Pits, where the said edi tor saw long lines of cars conveying the “ black diamonds” from the pits to Port Walthall, for transportation over the Union. The Times men must certainly have forgotten that the free trade Tariff, which they prophesied was to ruin the coal and iron trade, as well as every tiling el-e, had been in openlion f>.r ten days, with a pre- ! viouo notice that such would he the fact, of some months. We should like to know.no we wonld'ni I either, how those gentlemen feel when these reminiscences come up. They, however, expect, we see, that Congress will add something to the prices, fur the benefit of consumers, we presume. A "liAC'K SQUALL.” Ai a hpary expense we lmv« prevailed npon our talented anist glvp „„ f(„rIrtjl„, ,hp •• lllack &|uali,” "Inch followed ,|te (J. 8. .loop war Bouton, at Ihe rate „f .. „jne k(lol8 an hour,” when sho run ashore «.» the north side „f the island of K.itretliera, and drove her inlf) (iirc, feel tenter. Such an animal is enough to scare the Devil, and we do not Wonder at ns driving the Boston aslmre, where her men could safety escape its capacious tnouth and awful claws. 1 . , ■■■■■■ i. ■ i ■■■ THft GOV MINOR'S MKSSAGK 1 uis docuineni, wliii'h, to Virginians, is of f.r deeper interest limn the Pr***i«l»*nt*•» wo find has already boon honored with lIn* attack* of • In* federal ptfs*j but Hcmr innob mistaken if it linos n.it ovoniimlly prove strong a*i ibo *• little rook ” tlint wan liowo.l out of tin* mountain. ami which will break down all opposition. There in a clearness. frankness, ami fearlessness abuiit ii that defies assault am] criticism. The writer , lias niarebod ilirortly op to the business of the i Slate, which is Committed to lii-i champ, and tolls iis how it stands. Cavillers toll os that the Governor has a liiihlrn inntire f..r his recoin inendalinns which is ** pretty well under stood in Richmond/' hut do no! deign to tell the ignorant what is understood there, while others proclaim such and such recomiocndatiiitis ui just and inox podient. Without troubling ourselves with the | opinions of those learned savans, \ve shall make i sttclt extracts as we think of most importance. that the people may judge fur themselves o| iis ! merits, and first we will quote that section which shows our prosperity as a State. THE FINANCES. “ It affords me great pleasure in inform you that iIn* finnncHS of nor Slate art- in a highly sat mfactory condition. On tin* first day <>f October. 184the balance in the treasury was §100 386 06 On tile first day of Octuhrr of the present year it was §137.<133. By certain laws ,,f your last session, a ppropria I ions w ere maile from the Treasury. eharg*atde upon the then accruing rev enue, portions of which, estimated to amount to §97,000, were undrawn at the close of the last fiscal year. Regarding this sum as a charge tt|>on the Treasury and drawn therefrom, there would have hpen still left at the period aforesaid a balance of §40.433; and this nfl»r promptly meeting every demand upon the Treasury, and paying > If §45.676 67 of the public debt, which debt was only payable at the pleasure of the I,e«r Mature. But many of the charges upon the Treasury are entirely contingent in their eharac- | i ter. Of such charges many cannot, and none i may again recur. And I have the- satisfaction to ! infum you. that under a rale of taxation annually decreasing for the last three years, after defraying all the charges of government, and other perma nent appropriations, you will have at your cunt j tut*t»d during the present fiscal year an estimated surplus nf nearly §150.000. “ This prosperous state of our finances would seem to call for a further reduction of nor Taxes. But instead of such a policy, I earnestly recom mend a small increase of them, upon licences, pi anos. cloeks and watches, dividends, and upon interest, except that pay able upon our State bonds. *• I also recommend a restoration of the lax on money. Money may he regarded as the most efficient form of property. Not content w ith or dinary profits, the owners of money ger orally hold it for the purposes of usury nr speculation_ and I therefore think I may safely assume, that there is no portion of the property of the Com monwealth that can with so much propriety he called upon to contribute to the support uf the State.” His suggestions to lay a lax on «• money.” which many have hoarded up, instead of invest ing it in property, that they might thereby escape bearing a due proportion of the public lumbers, will make many an old gripti? wince. We should have liked this section much lirtter if he had recommended the abolition of the tax on the printing press, or to have it so regulated that something like justice might he observed in its collection, and not make all pay alike, no matter wl.at the income of the establishment may he_ as it stands it is an odious and oppressive tax. We proceed now in quote his remarks'oit Til F. LITERARY FCND. “ The Literary Fund exhibits the same gene rai features as were presented hy the last Annual Report. Had the interest upon the loans made to Fmory and Henry, and to Hampden Sydney Medical College been paid, the income would have amounted to a sum slightly more than that nt the last year. Although the permanent funds have received substantially, the usual increase Irom fines, forfeitures and penalties, from sales of runaway slaves, from escheats and derelict es tates, from delinquent and forfeited lands, and from the Bristoe estate, yet the Report will show the material reduction of 863.030— a loss to the lands resulting from (hr depreciation of the stock of the Bank of Virginia, and now developed on der a law of your list session. This fund also sustained heretofore a loss of 818.0/30. on U. S. Rink stock. 1'his fond, since its creation, has at different periods lost heavily on dividends. It still owns 3707 shares of Bank Stock, now worth, it is supposed §313.170. It d> es seem to me tliai this valuable fond, dedicated by your en lightened and patriotic predecessors to the intel lectoal improvement of our fellow citizens, should not he identified with unr monetary system, li able to all its losses, and without any enrres|Hind mg equivalent. I therefore recommend, that the .State take this stock on her own account and pay to the Literary Fund a perpetual annuity nl 818.790. that sum being an interest of six per cent, upon tint estimated value of the stock afore said : or. that the President and Directors of the Literary Fond lip required to exchange it. as '•'ey can, at par, for any safe six percent, invest 1 he Literary Fond also hi.Ills Stale bonds to • lip amount nl & I,000.500 50, oj..>n which ihp Siaip pays an annual interest of #01 32^ 30 W by should this relation n|' creditor and debtor between the State and tiip Literary Fund be maintained ? \\ herein consists its u'llify ? The old idea that the Slate in i if I > l refuse to make such an appropriation is entitled to but little eonsideta tion, and certainly less respect. The day is past, tl it ever existed, when Virgin a, unmindful ol her honor and I er duly, would refuse, to pay a specified and acknowledged debt, destined too to the education ol her ow n children I therefore recommend that the bonds in cpiestiou to* surreu* dered to the Stale, In be cancelled, and that the Legislature pay to the Literary Fund, for and to consideration thereof, a perpetual annuity of #01 , 328 39. The two suggestions which I have made in connexion w ith this subject, it adopted, will put an «ud to frequently recurring and sometimes inconvenient enquiries—will to some ''XHMit diminish the expenses ol managing the fund, and assuredly contract and simplify ns accounts.” Is there any dcmagog/iitm in iIip above state rnent ? we would ask the wiseacres of the oppo silion. It appears that lb's holy food has not escaped the rapacity of Banks, hot has suffered a loss of #81 ,080, and how much more find only know s. education and district rciiooi. SYSTEM. I he education ol nur fellow-citizens, especially the indigent portion of them, has long engaged the attention id our benevolent and enlightened statesmen. Hence spring the University of Vtr girna, the Primary Nduml system, and tl... noble hind, to the condition of which I have brn fly ail verted (/Hiking at the extent of our territory, the sparseness of our population, and the Condition o' about two filths of it, we may congratulate nur selves upon the amount of go •!) w.htch we have already accomplished. But much remains In do. The necessity of education is obvious and urgent. The enlightened, patriotic, ami indigent combine t«. call upon you as they have done ft|fcm your pre dr ceasors, to adopt some vigorous and decided sY'K m which will place within the rea.-h .if ..nr " * ,,IW «*»'«•* population, ilt« blessings of e. I ties liou. In the nnn.prou. appeal* in behall of thin |..li<*y which have within the |**t threw yearn •..•en made lr««m the forum amt the pres*. it seems In have been Hssumed that we are the degenerate of distinguished sires, anil that weimivt n<lnj>t ’•"tn'* efficient <vul< m nf education. in artest nnr iIiivyiiwaril course. This is not true in farl On the contrary . never, since we Innk >mr ataml .unnn.r 'he r»:i*iims nf the ear'll, have mir daughter* iieen fairer, nr nnr Runs mure patriotic; never have the blessings of inurnlity. ..f Christianity, nml nf edit eatinn heen an highly appreciated, nr su exten sively diflW.I. In the anxiuiiR consideration which has hcen niven tn tills -subject, the great difficulty has heen in agreeing upon a practical ami efficient systi ni. I*ew can appreciate mir difficulties ; iiune can dn an who are nut familiar with mir physical and sncial condition—hut aiming nnr dif Ilci.ltieR, I am happy in say, tndi«pnsiiiun, and I will add indifference are mil to he fmiml. The prevailing wish nf mir S'ate is to spread the lights nl Science join nnr reunites! glens, and into the humblest habitat inns of the people. That this Wi!! tie dor.- there cannot he a doubt; how and "hen, it is in ymir wisdom to decide. I. Imw ever, recommend that a poll he opened on the day o! Voiir next annual election, tn list the sense nf *adi county upon the District School System— 'hat a majority nt ihe voters of each county, vul ing nt said election, shall decide upon the adop 'i n nr the rejection of the system — dial if it rejected tiy a particular county, then the dis trie's into which such county may be divided 'hall severally vote upon its adoption, within their respective districts; the system lobe udop ,ft each distiict giving a majority of its res o.eiii voters therefor. In these suggestions my purjHise is to compel each comity tn vote upon this system—the best, by 4hr, which I have cx nmtried—and when rejected in particular coun ties, to give sueli districts thereof as may de sire it, all the advantages contemplated hy tlio system. Ihe next snljecl of the Message which we shall notice, we have no dniihl will find favor with men of all parlies in this section of the State, and would if the Governor had advised more severe and stringent action than lie lias. We are seriously affected in this county and neighborhood by the influx of that population spoken of below, and it has long been a desire w ith our people to gel rid of them, hut they have not hern able to accomplish this wish. In the suggestion of the Kx'cutivp they now see light. FREE NSORO POPUI.ATION. “ l regard <>nr free npgro population as one of mtr greatest evils, and to opt rid of jt as one of mir highest duties. (irpal as may lie the appa rent difficult v of accomplishing this desiralile mea sore, it would dwindle into insignificance, under a hold and decided treatment. But all I now propose is the passage of a law providing that each county, at our next annual election, ‘hall have thp right to vote upon thp question of re moving the free negroes, within their respective limits, beyond the Commonwealth—that all coun ties voting affirmatively shall communicate the f.et to the Executive, who shall he required to remove the free negroes within such counties af er six or twelve months notice; and that such population shall not thereafter he permitted to reside therein. Such a law, dependent upon the vote of the people within their respective cotin tips, if adopted in a singlp county — relieving the vihjte man and the slave therein of a great and : unmiiigahle evil, inflicting no inhumanity upon the free negro, hut hy placing him in a community entertaining other and it may he more generous views of his rights and capahililies,actually' im proving his prospect of bettering his condition_ won IJ commend itself in a very high degree to our constituents, and will, gentlemen, find favor, I sincerely hope, with their representatives._ Even if the proposed law should not he adopted in a single c< uniy. its mere existence, with the power at any time to give it vitality, would ma tonally aid ns in the management «f this unhap py raep.” We are highly gratified with the remarks which follow, as we have long been convineed that the unfortunate subject mentioned is suffer ing unjustly, and contrary to thp intention of the law. We iio not coincide with the Executive in the amount of guilt, for from all the farts which w e have been ahlp to gather, we are firmly convinced that it was an ucnitlenlnl homicide, for which the prisoner has been severely punished. How ever this may he, the object sought to he obtained bv the Governor is one that ought always be pro vided in every Constitution. COMMUTATION OF PUNISHMENT. Wlipn I eante into office f found Hontpr Ifi|] of Nansemond. nnrf»t sentence of death fur thn li.i'fiicide nf Roht. I*. Smiih. Fin was under re pri'vp by niy predecessor, hot for masons having on million in his guilt or innocence | also ro priovpd him for one month for like masons._ S ihsequently, I was nrgpil to examine ihn record and evidence in his case. F did not feel at liherty ' in decline so doing, hel ondern ok with great re | hictancp, in consequence of a strong impression j t it it was a case of cruel and deliberate murder. Mv examination of the case, however, resulted in a very different conclusion. | became fully satisfied that ihe criminal was not guilty of o ur • !er in the first degree, and that il was my duly i" arrest his execution. Hut. believing him gml 1' of a higFi offence, that dpserved punishment, I did not feel satisfied to pardon him. and F there I' re reprieved him until the sixth day of Kehrna ry next, that the legislature might, if they thought proper, enable the Executive to commute Ihe sentence of death to confinement in the peni tentiary. In this case I have the power to dis charge the prisoner from confinement, and to free him Inm all pnnishrnr til whatever, and yet, for want of the right to urn the Penitentiary, I am innahle to commute his sentence to a term of years therein. \\ illnmt legislation I most discharge a rtvn from all punishment whatever, who is not goilty of the crime of which he stands convicted, according to the evidence before m°. hut who is guilty of a high crime for which lie dpserves and ought to receive severe pnotshmenl. Ought this slate of things to exist 7 Will not the Legisla tore provide for il ? f.aws of the description I now propose have long prevailed in the State of New York, and I presume exist in other States of our lTnii n. I hf suggestion contained in Hip follow injj ptragra| h is now lo ns. If it bp in the power of a mnligr ant or revengeful foe to arrest arul.impri son an honest man for an imaginary debt, (as there can bo no doubt there is,) without the s'lrulow of oath or evidence the sooner the foul Main is w iper! from the statute lunik the better. O \TII OR F.VIOKUre NECESSARY IN CASE OT ARREST FOR DEPT. ft is known to you. gentlemen, that a person holding a bond, single hill, note of hand or other | evidence of debt, can sue thereon and hold the obligor lo bail, as of rig it. It may he that not a | dollar is doe—that the apparent debtor is on the highway in search of a western home. It mat ter-wol tl at ruin may be the consrrpiencc of his detention. It is so nominated in the Iron(|; and he must remain in prison, discharge rhe nnjus’l de "•and, or give the bail required. |< ibis elate of the law in harmony with the enlightened spirit of the age? | think not, and therefore I earnestly reconfirm nd that a law he enacted, providing that hail shall not be demandaMe in such cases, except upon the oath of the creditor nr Borne person for Iiim, a» to I lie nil'll bn n a (iile due. aiul, tint ||M> obligor is about depart this Commonwealth, m.i Ilia I liruci-s* u| execution ninniil lx; served up, him.” 'I he follow ins "osgewliun ought i<» claim the ttnmrdiam attention «»f th<- |.*gi«|iture. The " hi.|.- system ol banking is an nnemu* hnrlbr-n I upon i he cuiniiiuniiy, drawing its sustenanrr ami | lit” from the industry and emerpriza of the people | without rendering an equivalent in return. |l , they are so permanently fastened upon the body politic. that they cannot h. shaken off, we go f.r so restricting their powers tint their issues shall at all times produce what their face promises ; and that they shall he compelled to settle de mauds against them in their own piper. This can be partially effected hy adopting the recoin inundation of the Executive. THE BANKS. I’he quarterly reports of our Banks are hero with communicated. I have not been ahle to give to these Instituti >ns tSat examination their im portance requires Although their general condi 1 lion is sound and healthy and their administration is in charge ot officers of high character ami in to.|ig«nce, I feel it to he my duty to call your at tention to those located in this city. One of the great objects in the creation of hanks is to provide a mixed currency of paper and specie, equal in value ami eonvi rtihle at pleasure. On no other terms coil hi any hank hive heen chartered hy yntir predecessors, yet in this city, in winch three ul ihprn are located, their practice defeats this im portant policy. It is true they pay specie lor their own issues respectively ; hut the obligation to do so does not extend to branches of the same insti tution. lecated elsewhere. By paying nut there fore in this city the mites id distant hraitelies. as is their daily practice, they supply this communi ty with an irredeemable and therefore depreciated currency—deprive specie of its legitimate charac ter and make it an article of merchandize—com pel our mnnufactnrere to purchase it for the ad justinent of tlicit w eekly balances with their ope ratives. or til use the pestilent small note circula tion of other States. 'This policy of the Hink is most assuredly in conflict with the true intent and meaning of their respective charters, and with the solid and substantial interests of the State. As part of the same system, as I am in formed ami believe, these Banks refuse In collect for Banks in other States, otherwise than in cur rent funds, so that all cheeks and drafts for cullec lions are payable in the depreciated currency tn w It icli | have alluded. i his policy is annoying and inconvenient to men of business—it, disregard of sound and healthy hanking,— injurious to the ' •i.iint-iri «vi uiir o«aip, ami in an respects imle lensible. We nre not in debt, and lhis*policy has imt even the insufficient excuse of necessity._ I rue, it pnables the Banks in increase their pro * (its <m their exchange dealings, and fuidishes an argument in favor of their being allowed to issue small notes. Hut, I should regret to believe that such considerations induce the |*»licy in question. Hut, he the reasons what they may, the facts are incontesltble. that the ptevailtng currency of this city is irredeemable therein,—that sjreein is at a premium,—that to such extent exchange is en hanced,—and that the Banks pay out this depre ciated paper at par. | regard it as a duty of our Banks to pul out and maintain a cash currency, and not to pay out as cash the notes of distant branches. The legality of such a practice may moreover he questioned, and it may he advisable f..r you to interfere, and to protect the Slate against the danger of future loss. • " ^ or the correction of this abuse, I recommend the passage of a law requiring eieli Bank to pay out its own notes, except when other funds are required. Such a law would make uur Banks cautious and healty, each Bank sending home the notes of the others for payment, all would be kepi within sale and prudent limits,—specie would cease to he at a premium,—exchange would de cline, and the small notes of other Slates would instantly disappear.” We shall in our next paper, lake up the re ■naming subjects of the Message, and give them to our readers as above. • WHY WAS HE SEN 1* THERE? Our friend Horace Gieeley, of the New York Tribune, in his usual Federal leader, against the Mexican war, and uur southern institutions, par ticularly, gives the following piece of fictitious history from a correspondent, to stir up the sensi bililies of the old women and the Websterites against the war : “ I he story is current here, and I believe well founded, that on receipt of the news of the death of Lieut. G. in the bloody assault upon Monterey, Mrs. P. of the \\ htle Mouse ordered her coach and went, doubtless in a spirit id' amiable sympa thy, to condole with the heart-broken mother, on the untimely and savage death of her gallant and darling son—a son to whom she looked as the pride and hope of her few remaining ypais. Time had not yet sufficiently assuaged her pn>emal suffering to admit reason to resume its empire and the distracted Mother replied—“Tell me amt of I resignation—tell me. Madam, if yon can, for no I one seems able to answer me—for wltal was this wicked war brought upon our country ? Why was my noble son, the inheritor of his lather’s virtues and the pride of my old age, sent to he murdered in that barbarous country ?” Mrs. P. might, and probably did. answer this, not spartan mother, somewhat as follows : ** The war, madam, w as brought upon our country by repejted Mexican aggressions and insult, stimu lated, in part, by factions individuals and parti zm» in this country ; and your son, who has been educated, fed ami clothed at the expense of the nation, was called upon, with others, to render it • >me equivalent service—and I am glad to hear that he inherited some of bis father’s virtues, for I am sure he could have drawn none from his mother’s bosom. You should not have let your son wear the honors of an American officer, if you did wish him to reap laurels in the service of his country. Good day. madam.” JV1IKK WALSH. There is something refreshing in the style and manner in which this singular man adheres to his trnih and integrity, which we delight to cntem I'late. 'i'here are some things in Mike which we J ci.nld wish altered, but nothing which should call dow n upon him the abuse lie receives from a cor rupt and degraded pr»ss, who condemn him for his honesty and troth, without being aide to com prehend his object or his position. .See how he speaks to those who calculated o}m>ii Ins desertion ot his fiiends, and principles A Sao Mistakf.. — A good many poor narrow : sighted devils who know no motive power in I human action beyond self advance and self ag | grandizement, and who are as incapable of form ing any conception in regard to the true character j of an honest and independent loan, as a Sooth Sea Cannibal i* of understanding the Trinity, i made op their mercenary minds that when once elected to the legislature I would cease to de non nee the hypoeriay, treachery, dishonesty, and tyranny of hollow hearted pidiura! demagogues_ ; 'hat abuses which I formerly loathed would meet with comparative favor from me, and that, in short, all ihe great features which so pre eminent ly distinguish myself and the Sob. from all other men, and all other | apers, would undergo a thorough—and to all my honest disciples—inosi humiliating and mortifying change. What a rfiiimiMp pxpt«t»ii in was this I . . dear conception uhihi these in«pirt,(| # patriotic individuals have liatl «>I' Hi** manner which I am constituted. There in nn ' in faltering in me. Unceasingly hate | pn^jj fiirwar*! through a(l seasons ami circnmstanr* from boyhood in Hi** present Imnr, in the tpiartPr' l»"»s war which I have ever wage*] against j*rr, j anil despotism. ami In I he vigorous prosecution , | which, until successfully terminated, | have p,m secrated every hope and energy of my exiatcr,,.,, Milk ami honey are nut the medicines with ^hicj" I attempt to cure the virulent and deep seai^ maladies which are poisoning and umlemiinjn the vitality of society. Desperate diseases ipiire desperate remedies, and mercenary vice and practices must hp reached hy caustic and !(■' kni'e. il nl my l;r« elevation to a seat in legislature of this Stale tirudoccd an alteration j* tny conduct and piper similar to that described il would, as I am well aware, have remove,] every obstacle to toy future progress in the p,,|Mj cal field, and I would have been left free to r<« „ at will, and seize upon its fullest and 8iinniPKt places, hn! the great charm of my character would he dissolved hy the unnatural tpusformaiion, the spell which hinds all honest men In me \vou|,| he f..rever broken. When I recede, it wi||[tB into eternity. I hat I have ever been right, ( ft.,,) as folly confident as that I am tmw writino i(,jg article. I can never make the slightest cuinn*i, mine with thn«e who delude, plunder and irar»in| np *n my fellow workingmen, and I will nCVpr consent tu abate one iota of my just censure and severity against seffi-di vice and human tyranny if the base and craven act would make me I>rPsj‘ dent f..r life. Thus* K navis and villains u hodi, nut like this, may do their all to remedy it. • ler.lion, it is heyond their |»>urr to undo. ||y that triumph I achieved all that polilies can r»,,r do for me, and as to the future, i wunhl nut „jyh the segar stomp un which I am n r.v puffing' all the nominations which thev can confer S,, far from feeling honored by an election to the sembly nr tu Congress, were it not fur llm rm„n I have just stated, I should h* led to regard it the light of a most equivocal compliment, cn. sidering the unprincipled and incompetent in,!*] cilea who have been almost exclusively sent them for years past from tl is city. Any brainless and worthless blockhead who possesses the wealth far) easily purchase a nomination ti>r almost any thin., hut it takrs one ul Nature’s Noblemen to win and retain the respect and disinterested love of his fellow men. by honesty, ability and self sacrific ing disinterestedness. W ASH INGTON COU HES 1*0NDEXCE1 Washington, Dee. 10, 1310. j *Wr. Editor.—The character, talents, ami rep. utallon at public men, are sai.t to ho public pr,,p. eriy. If ibis principle lie Irue.then lias oneof ilie members of tbe present Cabinet Contributed most largely to the national wealth. NN lien I read liis very able ami luminous r,.. p-ois on the subject of thp revenue, to Conors ot the last session. I supposed it almost imp<«ib|a that the distinguished Secretary of the Treasurr, even with all his aek now (edged alnlity, eouli! adit any tiling to the force ami power of the views ami arguments therein contained ; but a careful p*»tnsal of It is report of the 9tli instant, has com pletely dissipated that supposition. A report which, fur the clearness and perspicuity of its style, convincing power of its argument, and thorough acquaintance with the subject which it displays, deserves to l>e regarded among the first, if not the very first of state papers which hat ever emanated from that Department, and placet its author on the same elevated platform with the ablest statesmen of our country. Mr. Walker’s expose of the general operation "I ihe laws of trade—the adaptation of our pre sent tariff to those laws, and the Consequent ben efit which every department of industrial pursuit must receive from its preservation, is presented in a style so condensed that an analysis would be utterly impracticable, any attempt at which, would hut mar the proportions, ami weaken the force nf the document. I shall, therefore, forbear; and knowing that yon will take the earliest opportunity to lay it lielorc your readers, will content myself with commending it to their attentive consideration, with the confident belief that all who do so, whether "big or democrat, whatever may have been their opinions heretofore, cannot hut rise from-its perusal with an increased disposition to give to the tariff of 1840. a (an | trial, and accord to its author high praise. Yours, truly, S. L. E. Front tlic Baltimore Republican. DANIEL WEBSTER'S SPEECH. I his eftort about which there has been such * noisy '• note of preparation.” hns at length hern made, and in spread out in full in the Philadelphia Inquirer. It is applauded and hepraised as a gigantic speech, hut fur our lile w h cannot see in w hat its im iliensity consists except in the nuniherof the pages of the newspaper it covers, and the lime, about five hours consumed in the delivery. There!'* nothing new whatever in it. The P. nnsy 1 vanun, in a hurried editorial, actually anticipated I he sub stance of the whole speech. He com* 1 inienled Pennsylvania, exulted over the recent election* which lie falsely claimed a» *• a revolution pfodu ced hy the universal dissent from the measure*"' the ndrniriislion ” He opposed the manner in which the present war with Mexico was brought about and prosecuted, and ..d TeX3* as the ptincipaI ennse ol it, taking Mexican grounJ better Ilian Santa Anna could. He opposed the •• People’s Tariff,” the Subtreasury, the Veloe* lie praised (jen. Jackson, (that was somethin;} unit, ilti.ugh.) and cursed President Polk, ami uh. rarer show I •* he expounded the Constitution.’ He concluded Ins speech l>y acknow ledging th*1 the |a<lies present afforded all the" •• pleasure" the occasion. 'Phis synopsis will stmw thd. 1 he company PXpicted any novelty for their fi,f dollars, they were mtu-li mistaken, ami inns! ha*' been a tlear price fur those who looked for milt' utility, to pay for an enlogtmn on the man w ho tic stroyed their pci monster, and opposed their fa»"r tie schemes But these were itieu.es of his speed elahora ed witli his" usual ability.” His »r«ru merits have been refu'ed time after time—hts pro 1 penalties to sustain the enemy, though, can »i*rf [ t*e ernrlicatt r|. I hey are morbidly const ftwtiurta ■ like himself opposed in tlie country, and ihe Instri I ment which preserves its liberties. Oppp^!1'' ; lit the new Isriff and to the war being hts prio* ! pal themes, he accomplished nothing i against etthr r. He could nut disprove |hegruiin taken in the following resolutions written *' sustained by himself in |^^0, in Etoeuil llall I Urtiilctil, 1 h:»l n > objection ought tit hr to any amount ol taxes, tqoaliy npp.r tinned imposed for the pur; .sc ot reremte neeearw'V • the snpp.rt of government ; but the tux* * ifl'P* serf upon I be people for the role benefit lV‘ rln*n of nirn.me . qo .lly inenmeintmt with & prinriplet of our Con*l>l»lion anil *ilh *,'a' poliri). Iteiolreel, I hat bigli hnnntir.* ..ns'icft Ann* tic iiisnufnetures as are principally benefit'd that I .'.riff, filrnr gri nf enpilnlixlt rolbrf perxonol imlntlnj, or the mmtr» »f small C8I tals.and, therefore that we do not perceive ** deucy to promo’s national industry. lie could not belter prove bis opposition hi b Country, by denonnring the present war, than I did hy his hostility to the war, in 1812 ard 181