Newspaper of Burlington Free Press, March 23, 1838, Page 2

Newspaper of Burlington Free Press dated March 23, 1838 Page 2
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emtio, and 1 trust is not distont, when ne will of Iho People min prevail in the councils r their own G.vcriime..t ; n.d when it docs arrive a bank will bo ctdub- ,WTho Senator from Smith ( re minds iMlhat wo deiiouucuil Hits pet brink syslcm : and so wj did. anil so wo do. mil tines it thoreloro follow lliat, bad as thai nystom was. wo miKl be driven inlo III" n,.romnn.!n of n svsiem infinitely worse? lit', tclln us Hint llio liill.iiiiderciiiitiileraiiiin lakes lb" public hinds nut ol Hie nanus ui tho Executive, and places llicni in ibe hands of the law. It doos no such thing. Thuy nro now without law, it is true, in tho custody of Iho Executive; and the bill proposes bv law to confirm I hem in thai cuslody, ninl to convey new and enormous powers of control to iho Executive over t limn. Kverv eo inilnrv of I he public funds provided by the bill is'a crenturo of the KxeeniivQ. douondent niion his brent h, and subject lo tho same breath for removal, whenever the Executive, from caprice, from tyrannv, or from parly motives, shall choose to nr'dcr it. What safely is there 4... ..l.l.,' il I linn, U-rrr fl llltl uniiv of t lie whole Executive mini S u m. 110 S IllCir irieiiu he only thinks they are all unconsiiiuiional Whv ? I5ecane the coining power is pns sesscd by the General Government, and that coining power, he argues, was intonu d lo sunnlv a currency of the preciou metals; but the State banks absorb tho precious nieta's, and withdraw them from circulation, and, therefore, are in conflict with tho coimnrr power. That power, according lo my view of it, is nothing but a naked authority lo stamp certain piece of tho precious metals, in fixed proportions of allov and pure metal, prescribed nv law so that their exact value may be known When that office is performed, the power is fundus officio ; ihe money passes out ol the mint, and becomes iho lawful property of those who legally acquire it. 1 hey may do with il a3 they please, throw it into tho ocean, bury it in t tic cart li, or men i in a crucible, without violating any law When it has once left the vaults of the mint, Iho law maker has nolhing to do with it, but to protect it acainst those who at tcmnt lo debase or counterfeit, and, sub frequently, lo pass il as lawful money. In the sense in which the Senator supposes banks to conflict with the coining power foreign commerce, and especially our corn mcrce with China, conflicts with it much more extensively. Thai is tho great ab sorbent of the precious metals, and is, therefore, much more unconsiiiuiional than tho State banks. Foreign commerce sends them out of the country ; banks Plain them within it. The distinguished Sena tor is no enemy to the hanks; ho merely thinks them injurious to the morals and industry of tho country. lie likes them very well, but he nevertheless believes that they levy a lax of twenty five million annually on the industry of tho country ! Let us examine, Mr President, how this enormous und iniquitous assessment is made, according lo the argument of the Senator from South Carolina. lie 6tales that there is a mass of debt duo from Ihe community to Iho bank, amounting to $175 000 h00, tho interest upon winch, constituting aboui that miiii of $2;i 000 000, forms the exceptionable lax. Now, lh fiiim is not paid by the whole community, but only by those individuals who obtain discounts from the banks. They borrow money at six per cent interest, and invest il in profitable adventures, or otherwise employ it. They would not borrow it if they did not suppose thev could maun profit by it ; and the probability is thai they do make profit by il. Instead, therefore, of there beinr any loss in the operation, there is on acton gam lo I lie community, by the excess of profit made beyotid mx per cent, interest, which they pay. What are banks? They are mere organized agencies for the loan of money and I he t rausaotino of monetary business ; regulated agencies acting under Iho prescriptions of law. and pohjpct to a responsibility. mrnl and legal, lar transcending that under which any pri valo capitali.-t operates. A number of persons, not choosing lo lend out I heir money privately, associate together, bring their respective capitals into a common stock, which is controlled and managed by the corporate government of a bank. II no association whatever had been fumed, a large portion of I Ins capital, n large pnr. lion, therefore, of that very debt of ii 175. 000.000, would still exist, in the shape of private loons. Tho Senator from Smith Carolina might ns well collect Iho aggre gate amount of all the mortgages, bonds, and notes, winch have been executed in tho United Slates for loans, and assort thai the interest puid opun the- lolol sum con 6titulcd a tax levied upon the community. In Iho liquidation of iho debt due lo the bank from iho community, and from the banks lo tho community, 'ihero would not be as much difficulty as Iho Senator seems to npprehend. I mm iho mass of debts luc to die banks arc lo be deducted, first, the amount of subscriptions which cons'". tuto their capitals ; secondly, iho amount of dopoEitcs to tho credit of individuals in their custody ; and, thirdly, the amount of tlioir notes in circulation. How eabilv wi those mutual debts neutralize each other! The same person, in numberless instances, will combine in Inmscll the relations boll of creditor and debtor. Tho only rjcncral operation of banks licyond their discounts and denosites. which pervades iho whole community, is that of lurnisning a circulation in redeemable paper, beyond thu amount of specio to redeem it in their vaults. And can it be doubted that this additional supply of money furnishes a powerful stimulus to industry and production, fully compensating any ensual inconveniences, which botncUnios, though rarely, occur ? Hanks reduce ihe ralo of intcrctt, and repress inordinate usury. Tho salutary influence of baukinc operations is demonstrated in countries and sections of country whero they prevail, when contrasted with those in which they nro not found. In the former, all in bustle, ctivily, general prosperity. 'Iho country beautified n ml udorncu uy mo nouiu or It st of internal improvement; Iho cities are 11 led with splendid edifices, and the harves covered with the mcIi productions of our own or of foreign climates. In the latter, all is sluggishness, slothlulnces, anil inactivity. England, in modern times. lunl rates lh" great advantages in uatiKs, credit, and of stimulated industry. Contrast her wit li Spain, destitute of all those advantages. In ancient limes. Athens would present an image of full and active employment of all the energies of man, carrijd to llio liiniicsi pnini oi civui- it ion. whilst hor neighnor, bparta, with her iron money, nlTords another of the boasted benefits' of metallic circulation. I'lio Senator from South Carolina would )o the bunks no harm; but they are deemed bv him Iiil'IiIv iniiirious lo tho planting interest According to Htm Hiey uilliie prices, and Ihe poor planter sells his pro net ions for hard money, and Ims lo pur chase Ins supplies al the swoln prices pro luned bv a naner medium. Now, i must dissent allogelher from the Senator's stale tnetil of the case. England, the principal customer of the planter, is quite as much, if nnt mine, a paper country than ours And the paper, money prices of the ono cminlry are neutralized by tho paper money prices nl the oilier country. II tho argil mont were true, lhal a paper-money coiiti try trades disadvantageous with a hard money country, we niigiu to continue io emnlov a papor medium, lo counterbalance the paper medium ol hugiauil. Ann n we were to bantsli our papor, and euusiiiniu altogether a metallic currency, wo should bo exposed lo the very inequality which has beet: insisted upon, lint mere is notn ing in that view of the matter which is presented by too Senator Irom houtii oar olina. If, nsho assorts, prices wore always inflated to tins country beyond their stand ard in England, the rate of exchange would bo constantly against us. An examination however, into the actual slata of exchang between tho two countries, lor a Ion series of vcars, evinces that il has ge.ncr ally becn"in our favor. In tho direct trade between England and this country, I have no doubt, there is a largo annual balance against us; but that balance is adjusted and liquidated by balances in our favor in other branches of our foreign trade, which have finally concentrated in England, as Iho great centre of tho commercial world. Of all Iho interests and branches of in dustry in this country, none has profited more by the use and employment of credit and capital derived from banks and other sources, than the planting interest. Il ha bilually employs credit in all countries where planting agriculture prevails. The Slates of Alabama, Mississippi, Arkansas, and Louisiana, have almost sprung into existence, as it were, by magic, or, al least , have been vastly improved and extended, under the influence of i he credit system. Lands, slaves, utensils, beasts of burden, and other supplies, have been constantly bought, and still couiinuc to be purchased, upon credit; and bank agency is oll-essen tial lo give the most beneficial operation to ihesc credits. Hm the argumomcnt of the Senator from South Carolina, which I am comb-iting, would not he correct, if it were true that wc have inflated prices on Ihis side ihe Allontic. without a corrcspondin inflation ofprice on t he other side ; oceans the planter generally selling al home, anil buying at home, tho proceeds of Ins sale whatever they may bo, constitute t lie means by which he eff'C's his purchases, and fion-equonl ly neiit rah." each other. In what do wo of the West receive pay ment lor tho immense quantity of live slock and other produce of our industry, which we annually sell lo the South and Southwest, bill that paper medium n iw so much decried and denounced? The Sen st or from South Carolina is very fond of the Stale banks; but he thinks there is no legiuuiaio currency except that of the Constitution. He contends lliat the power which llio Government possesses to impnse taxes restricts il, in their payment, to the receipts of I he precious metals. Hut the Constitution docs not say so. The power is given in broad unrestricted terms; and the Government is left at liberty to collect tho taxes in whatever medium or commo dity, from Ihe exigencies of iho case, it can collect ihem. It is. doubtless, much the most convenient to collect them in money, becauso that reprcsen's. or can command, every thing, the want of which is implied by the power of taxation, Hut suppose I hero was no money in the country, none whatever, lo bo extorted by the lax gath ering from an impoverished people? Is the power of Government lo cease, and tho people lo bo thrown back into a stale of nature? The Senator as-ks if taxes could be levied arid collected in tobacco, in cot ton, and other commodities? Undoubtedly they could, if the necessity cxisled for such an inconvenient imposition. Such a ease of necessity did exist in Ihe colony of Vir ginia, and oilier colonics, prior to the Rev olnlion, and taxes were accordingly levied in tobacco, or other commodities, as wolf scalps, even at Ihis day, compose n pari of the revenue of more than one Stale. The argument, then, of iho Senator against the right of the Government lo receive hank noies in payment of public dues, a practice coeval with the existence of lh j Government, does not seem tome to be sound. It is not accurate, for another reason. Hank notes, when convertible at thu will of the holder into specie, oro so much counted orlold specie, like the specie which is counted and put in marked kegs, denoting the quaintly of their contents. Tho Senator tells us that it has been only within a few days (hat he has discovered lhal it is illegal lo receive hank notes in payment of public dues. Does ho think thai the usage of the Government undor all its Administrations, and with every parly in power, which has prevailed for nigh fil'iy years, ought to bo set aside by a novel theory of his. just dreamed into existence, even if it possess the merit of ingenuity? Tho bill under consideration, which has born eulogized by tho Senator na perfect In its structure and detail-, contains a pro vision that bank notes shall bo received in diminished proportions, duringa term of six years, lie himself introduced I hat identi cal principle. Il is the only part of ilic bill that is emphatically his How, then, can he contend that it is unconstitutional to reccivo bank miles in payment of public dues? I appeal from himself to himself. Tho Senator further contends, that goner al dposites cannot bo mado with banks nud be thus confounded with the general mass of the funds on which they transact business. Tho argument supposes that thu money collected for taxes nnibt bo pre. served in identity; but that is impossible, often, to du. May not n collector give the small change which lie lias receive., m,... ono lax payer to another tax-payer lo ena ble him lo effect Ins payment ? May he not chanrru gold for silver, nr vice verm, or both if he bo a distant collector, to obtain undoubted remittance to me puu nc n.n-Hf.,? W int. J r. 'resident, is me process of making deposites with banks? Tho deposilo is made, anu n croon is uo tercd for its amount to llio Government. That credit is supposed to be inn exnet equivalent of the amount deposited, ready and forthcoming to the Government when, ever it is wanted for the purposes of dis imronmeiii. It is immaterial io uie ikiv eminent whether it receives back again the identical money put in, or oilier money oi equal value. All that it wauls is wlial ti niii in i no nan ;, or us ui nivaium , uu thai, n ordinary tunes, wiin sucu pmui.-oi. lintitd ns nliine oii"ht to be selected, It is sure of gelling. Again s the Trea-ury bus frequently to make remittances io lorcigo ,,nirinH. in meet iho cxncnditurc ncces- fu ilmm for our naval souadrnns, and I, milters. In the i$,irinj or the Rothschilds il,r nomnsna. I 110 V nro mnnu mi u" in Iho form of bills of exchange purchased in the market bv the agents of t he Govern tnent here, with money drawn nut of Iho Treasury. Hero is one conversion of the money received from Iho tax-gatherer into the Treasury. The bills are lranmitte in ihe bankers, honored, paid, and Ihe amount credited by them lo the United States. Are iho bankers bound lo retain ihn nroceedsof tho bills in identity? Are ilieu h.mnil in do morn than credit the Government (or an equal amount, for wliicl thev stand responsible whenever il is wan ted ? If they should happen to use any portion of those very proceeds ol bills rc milted to them in their banking operations would it bo dra.ving money from the I rea snry. contrary to the provisions ot in Constitution ? The Senator from South Carolina con tends that there is no constitutional power to contract with the twenty five selecte banks, as proposed in the substitute ; yel the depoflite act of 1030, which obtained the hearty approbation of that Senator, contained a similar provision; and the very bill under consideration, so warmly supper led by him. provides, under certain coutin guncies. for contracts to be mado with Stale banks, to receive deposites of the public money upon compensation. 11 objects to the substitute, that it convert tweniy-hve blate banks into a sysicm federal institutions: bill the employment of Slate institutions by Ihe federal authority no more make them federal, than the cm nlovmetit of federal institutions by the Slates converts them into Stale institution This mutual aid, and this reciprocal cm ploymcnt of the several institutions of lh general and particular Government, is one of the results and beauties ol our admirabl though complex system of government. I l.o General Government has the use I he capital, court houses, aud peniteniarie in the several States. Do lliey therefore cense lo aperlain lo the Slates? It 'ie borne m mind that, although iho Slat brinks may occasionally bo used by th federal authority, their legal responsibility lothe several Slates remains unimpaired They conl iliue n be accountable to litem and iheir existence can only bo leirninai or prolonged by ihe Slate authority. And being governed, lis Ihoy are, by corporate authority emanating from, cud aineuabl to. State jurisdiction, und not under the c-mtrol of tin! Exicutivc of the United Stales, constitutes al once a greater seen rity for the public money, aud more saf to uic pontic nncriv. it nns ticeu argu thai a seperaiion of the Government from tho banks will diminish the Executive power. Il most be admitted thnt the li dy of the public money in various ban! subject to i hu control of State authority lurnishcs some check upon Ihe possible abuses of iho Lxecniive Government. Hut the argument maintains lhal the Exe ciittve lias least power when it has most complete pos-cssion of Ihe public Trea-ury The Senator from Soulh Carolina contends the separation in question being onco effected, ihe relation of tho Federal Government and the Slate banks will be antagoni-ttcal. I bulievo so, Mr. PreVi. dent. That is the very thing I wi.h to prevent. I want them lo live in peoce, harmony, and friendship. If they are an tngnnisis, how is it pos-ible that the State banks can maintain their existence again?! tho tremendous influence of ihis Govern, mont? Especially, if this Government should be backed by such a vast Treasury bank as I verily believe this bill is intended lo create? Aud what becomes of iho ar giirnent urged by tho Senator from Soulh Carolina, and iho abolition resolutions offered by him nt an early peried of "he session, overling that I he General Gov eminent is bound lo protect Iho domestic institutions of the several States? Tho substitute is not, I think, what the welfaro of the country requires. It may serve the purpose of a good half, way house. Its accommodations appear fair, and, with the feelings of a wearied traveller, ono may he tempted to stop awhile and refresh himself there. I shall volo for it as an amendment to the hill, because I believe il the least of two evils, if it ehould, indeed, inflicl any evil; or rather, becauso I feel myself in the position of a paiient to whom the physician presents in ono hand a cup of arsenic, and in tho other a cup of ptisan ; I reject tho fusi because of Ihe instant death with which it in charged; I lake the hitter, ns being, at tho mostjiaim lesi, and depend upon tho tfi mcdicalrh rinlurn. It would havo been a great im provement, in my opinion, if iho mode of bringing about tho resumption of specie payments, contained in Ihe substitute, were reversed : thai is to say, if, instead of fix ing on tho first of July for resumption, it had provided that Iho notes of a certain number of 6afo, sound, and unqiicM jnnabln banks In bo selected, should be forthwith received, by iho General Government , in payment of all public dues; am! that if the selected banks did not resume, by q future designated day, their notes should cease lo bo laken. Several immediate eficcla would follow : 1st. The Government would withdraw from tho1 market as a competi tor with the banks for specie, ami they would bo left undisturbed to strengthen themselves. And, 2dly. confidence would restored by lukinc off the discredit and discountenance thrown upon oil banks by the Government. Aud why should these notes not bo so received? They are as good as Treasury notes, if not be'ler. hey answer all thu purposes of the State overiiments and tho People. I hey now would buy as much as specie could have mmanded at tho period of suspension. I'liey could bo dis-bursed by the Govern tncnt. And finally, the measure would no temporary. Hut the true and only efficacious and permanent remedy, I solemnly believe, is be found in a Hank of the United states properly organized and constituted. We are told that such a bank is fraught with indescribable danger; apd that tho Gov ernment must, in Ihe sequel, get pnscssion of the bank, or the bank of tnu Oovem. mcnl. I opposo to these imaginary terrors the practical experience of forty years. oppose to Ihem Iho issue of Ihe memora ble contest, commenced by Ihn lale Presi dent of the United Stales, against Ihe laic Bank of tho United States. The adminis Iration of lliat bank l,ad been without se rious fault. Il had given no just offence io the Government, towards which it had faithfully performed every financial duty. Undor its able and enlightened president it had fulfilled every anticipation which bad been formed by those who created it: resident Jackson pronounced llio edict that it must fall, and it did fall against the wishes of an immense minority of Hie 'topic of the United States; against the convictions of Us utility entertained uy large maiorii y of the States; and to the prejudice of the best interests of the whole country. If an innocent, unoffending, and highly beneficial institution could bo thus easily destroyed by tlie power of ono man where would be the difficulty of crushing it, if it had given any real cause lor jii-l animadversion? Finally, I oppose to these imaginary terrors the example deducible from English history. 1 here a bank Mas existed since the year 1P9-1, and neither has the bank got possession uf the Govern mcnl, nor llio Government of the bank. They have existed in harmony together, both conducing to the ptospcrity ol that great country ; and they have so existed and so contributed, because each has avoid ed cheri-hing towards Ihe other that wan ton and uuccesssary spirit of hostility which was unfortunately engendered in the uosum of the late President of United btatcs I am admonished sir, by my exhausted strength, and I fear, bv your more exhaust cd patience, to hasten to a close. Mr President, a great, novel, and untried mea sure is persoveringly urged upon I he nccep latum of Congress. 1 hot it is pregnant with tremendous consequences, for good or evil, is undeniable and admitted bv all. We firmly believe that il will be fatal to the best interests of tins country, and ulli inatcly subversive of its liberties. You who have been greatly disappointed in olli er measures of equal promise, can only hope, in the doubtful and uncertain future ihai its operation may prove salutary Since it was first proposed at the extra session, the whole people have not had an oppoitunity of passing judgment upon u at their elections. A lar as ihey t-ovo I hey have expressed iheir unqualified dis approbation. From Maine to Mir-si-sippi its eoudemuai ion tins been loudU ihuiidcrvd forth. In every intervening election, lh administration has been defeated, nr il former majorities neutralized. Maine ha spoken; New York Pennsylvania, Mary laud, Ohio, Rhode Ulninl. Mississippi am Michigan, all thc-o stales, in limes and terms out lo be misunderstood, have d noiinced the nieaure. The key-stone slate, has twice proclaimed her rejection of il; once at the polls, and once through her Legi-lalnro. Friends and foes to Ihe ad miui-trriiiou have united in condemning it And. at the very moment when I am ad dressing yon; a large meeting of the lot supporters of the administration, headed by the ditinguished gentleman who preside in t he electoral college which gave t he vote of that patriotic slate lo President Van Huron, a re assembling in Philadelphia protest solemnly agant the passage of thi bill. Is it right, that, under such circum stances, il shield be enforced upon a ro luctant, but free and intelligent people ? I it right that Ihis Senate, constituted as it now is should give its sanction In the mea sure ? I sav it in no disrespectful or taun ling sense, but we are entitled according to i he latest expressions ot the popular w and in virtue of manifestations of opinion deliberately expressed by slate legislatures lo a vote ot t lurly-five ogatnst the bill; and I am ready to cuter, with any senator friend ly to the administration, into detail prove the assertion. Will the Sena'u then bring upon itself the odium of passing this bill ? I implore it in forbear ! 1 appeal to tho instructed Senators. Is this govern rnnut mado for us, nr for Ihe people and llio Stales whose agents wc aru? Are we not bound so In administer it as to advance iheir welfare, promote t hoi r prosperity, and give general satisfaction t Will lliat cred trust bo fulfilled, if the known send ments of large nud respectable communities are despised and contemned by those whom they have sent here? I call upon Ihe hen orahle Senator from Alabama, Ma Kino wiih whom I have so long stood in Ihe pub lie councils, shoulder to shoulder, ucann ui) the honor and tho glory of this great people, to come now lo iheir rescue. I call upon all the Senators ; let us bury, dee nud forever, the character of ihe partisan rise up as patriots and statesmen, break tho vile chains ol party, throw iho fragments In the winds, and fool the proud saltsfac. lion that wo have made but n small sacri fice to Ihe paramount obligations which wc owe to our common country. The Iloston Allan najs " I'lio last accounts fiom Concord left Cov. Hill fianlic wiih rage, nt llio result of tlio election, We arc soit.mWial ap. piehcnsiin th, n hi Sunday school children could not hav- been much benefit led )elcrday by his pi ous cxhoi 1'iiluns. Wo lake il fur grained lhal his Excellency expounds lo ihe lillle imps only nine of llio e.iiiiiii.inilnienls. If ho ieriinizs ihe itlidily nl lh. il cnimnniiihiifiit which fmhidslliH beaiin; of witness against our neighbor, lie probably Hikes iho responsibility of interpreting it ns he undtr$tanth it, J It 1 1) A Y MORN ING, MARC II 23. Wo need not invito tho attention of tho reader lo Mr. Clay's remarks on the sub treasury bill. Ho is one of llio few men who command attention. And, wcro it otherwise, the importance ol the subject could hardly fail to enlist the interest of cvory individual who realizes the dan gers which threaten us. To Ihoso who do not, wo can only say, "read, reflect, and inwardly digest." New IlAMPSinnE. The late election in this slate has resulted as we had reason to expect, in the re-election of Gov. Hill, but by a majority so small a3 lo leave his lillle excellency" no occasion for exultation. One pull more and the Gra. nite Slato is redeemed. So postratc and powerless have tho Whigs been in New Hampshire for the last ten years that they have had no organization whatever, nnd havo allowed every thing to go by default Therefore tho Tories have olmost always carried tlio entire council, tho enure Senate, and five sixths of the House. The present Tory majority in the Biato is only about three thousand, while the Whigs have carried five of the twelve Senators and, according to the Statesman, a ma jorily of ihe representatives. This, how cvor, is denied by the Patriot, which claims a majority of 12 or 15. Concord Portsmouth, Dover, Nashua, Keeno, and most of the other business towns have elected Whig members. The mnioritv against Hill in his own town was 1C0 while Kecno gave Mr. Wilson rising of 300 majority. Men are generally pretty well opprcciated about home. The whi net gain since the last contested election i more than six thousand. Speaking nt' thi result, the Concurd Statesman truly eoys- We have much reason lo consratulat our Whig friends on this result so far shows us that Ihe course of Iho revolution is onward that even in New Hampshire ire object of reproach from even- qoartcr for her tame submission to Isaac Hill has given them due warning, and the world sign, that she well yet be free. Another year and the last vestige of toryism will navo departed irom her borders There will noi be found tones enough in her leg islaturcto form a sergeant's guard. If ihe trial were to lake place again tomorrow the whigs would succeed by thousands, In the result winch is now shown, tho wings have gained an important advanlacre They havo discovered they havo strcii"lh m cope Willi the enemy, nnd that tho ene my is not invincible. They must follow up tho advantages now r aiucd. The pro paralion fur tin; next campaign should be gin now. nnd with a steady ami and a per severing eff.rl, in another yenr wo may curry the slate by an overwhelming maj Sun-TiiEA-unv Him Tho National of the 15th inst. says "From our impros .-ion of the elate of feeling aud opinion prevailing in and about the Capital yesler day. we really entertain a belief that the Sub-Treasury bill, which has been so much debated in the Senate, is mil likely lo be come a law, without very material altera lions." The Join mil nf Comnicrrn iayp, "Sceral letters li.ui! been iifeirl fiiim Wuf liiiilon, nlucli siiiik Mr. I'ip.-iuii of .Sonili (.u nl io,i . unit Vir. Kin; of Al ih.ini.i, h.el Hindi! m oiiiipriiuiiac, uliicli uimlil he. likely to riinsliliilp llio h.isis of I ?un;;ic?si'iii:il iiciion on llio MitMicii.-nry policy. It is, nines of llio rpeoii! M)ing ll.inka bli.ill lie leceivnl fin goxnimneni dues, and iIir Urrt-itrr General lieic. I it i net for I lie sifit-ki-epinj; uf mull uolcs in tucli place in lie ni,iy lliink safe. Mn. Calhoun and Mr. Clay On Saturday last in the U.S. Senate, Mr. Cal houn made his long promised reply lo Mr Clay. The small and inconvenient cham ber of the Senate was of course crowded to suffocation. Mr. Calhoun occupied the floor obout two hours, and in the course of his speech took a retrospective review nf his whole political course for the last twen "y six years, and brought all the powers of his accutc ond nicely discriminating style of argument to protect himself from mani fold imputations of inconsistency, The Intelligencer speaking of tho debate says : "Although involving questions rather of personal concern than of great public im portance, yet it possessed a high degree of public interest, imparted to it by ils pre eminent ability, its earnestness, and Ihe character and positions of the respective speakers. CosonEss. Tho House of Representa tives on Wednesday was engaged in the discusion of the resolution of Mr. Cost Johnson providing for a distribution of a portion of the public domain among the old States fur tho purpose of Education. No disposition wa9 made of it. The general, civil and diplomatic appropriation bill was taken up and some little progress was made. In the Senate a bill was introduced by Mr. Morris to divide tho territory of Wis consin aud establish the territory uf loway. The sub-trcaeury bill was taken up. Mr Robinson spoko against it. Mr. Uenton followed in support, and in opposition to all banks aud banking. Maiicu 15. This morning, as soon as the Journals were read, Mr. Evans of Maine, rose to announce the death of his lato colleague, tlio Hon. Timithy J. Car tcr. After the annunciation the House passed tho usual resolution fur attending the funeral and wearing mourning, aud then adjourned until Saturday, at which time the interment is to bo made. Tho Senate, in like manner adjourned. Thus, you perceive, this melancholy cvont, cuts off all opportunity, for another week, of taking up any private bills. No further business will bo transacted i,i Congress until Monday next. Law RcpoitTEn, Wc havo received Iho first number No. of this work, published by Weeks, Jordon &. Co. Boston. Tho title indicates in part the design of the publication. Tho leading object appear to bo, to give condensed reports of recent cases, decided ir. the Courts sitting in that city, and also in other counties in the Stto and in other States. These reports will be generally published immediately nftcr the decisions arc pronounced, and al though Ihoy may not be a eubst ituto for the more elaborate and detailed reports. which ore more leisurely published in tho law books, they will be useful in furnishing the profession with early intelligence of important decisions of undoubted authenti city, and sufficiently precise for many uio. ful purposes. The publication will also embrace a variety of information, in other forms, important to tho profession, derived from various sourcos at homo, and publica tions abroad. A specimen may be seen at this office. Mr. Solomon Stoddard hni been appointed to the I'.iinfr l'lnfeiifoniliip of Mathematics nnd Nuiurul Philosophy in Middle-bury College. Mr. S. lias accepted die the appointment and will im mediately enter upon ihe duties of the office. From England. The news of the nITair at Sclilosfcr, (leccivcd al Liverpool Feb. 1st by ilia Rotcno,) in connection with llio I'lcsidcnl's Mes sage to Congress on the subjeci, nnd Gov. Marcy's Message lo the N. Y. Legislature, had cicaied a good deal of sensation in England. The ministo lial papers, such as (he Cluuiucle, (lie Globe, nnd the Courier, put n right construction upon these Messages, anil evince also u disposition lo It cat llio alT.iir complained of, according lo Ils merits. In like manner Lord Glonelg, the liiiii.-li Minister, declared in die House nf Loids, if on the re eclpt of further iiuelllgcnco il should appear lliat any Rrilifli subject was liable lo censure, iho Ministry would not shrink from besiowiiij it." The Times, on the other hand, appears disposed lo justify murage lis tone is iilioul enually hostile lo the British Gncrnmenl i.e. the present minis try and our own. The hill from the House of Commons, providing a new plan lor die Govern ment of the, has been read n third lime in llift lloii'K of Lords ninl p,ised. Mr. Ilnelmck addressed iheir Lnidships In opposition lo the bill. Lmd Dunn am is repined a very libeial man, and his appointment appear- lo find favor with all parties ; nhii-li is a stiong i nlicuion in his cr-dit, when his ah-olmo power is considered. The Liverpool Standard lem.uks that ".Ministers may felicitate tliem-eltes on li.iviujso quieily dnposed of n question which piiiiuiscd at one time lobe (heir lulu. " To this we may mid England may Ciiiigialul.uc herself on having had n minijiry crpial to theciisis. As ilu- power lo proclaim an amnesty conies uf course under Lord Dm ham's np. poiulincnl, wo believe nil patties in the bleeding provinces will hail as lhal ofu dcliveier. It is true Sir Juhu Colbornc has begun iho same limnano policy, so far as aci3 without declar ation may he considered n lief Inning ; but ilie per fect accomplirhment of (he politic and humane course awai's (lie arrival of Lord Duiham. It is more than probable that despatches rcreived prior to Sir John Culborne's installation breathed a pa cific spirit, und foibade sanguinary persecution. Uur lory neighbors whu breaihc blue fiioaml smoke through the Canadian papers, imiit feci rebuked at llio linn nffaiis have taken. Tho whole lone of English papers and legislators is a rebuke to llio over-zealous in loyally. Such expressions as "fitt lening men for ihe gallows," and oilier snrage anil In uiiil phrases, find no echo on iho other side of l lie water. Gov. Jcnison has appointed Friday, tlio 6th day of April ncxl, for tho annual Fast. The Hudson River is open to Albany. Geopoia Confkrkncb. The following res olutions have been adopted by the Georgia Confer ence of ihe Methodist Episcopal Chuich, at ils late meeting held ut Athens ; Jltisolvtd, ii is the sense of ilie Georgia Annual t'onfcrcjiee, lliat slavery, ns it exists in ihe Uniied Stales, is mil u moral evil, llenolvttl, I'll. il we view slavery nun civil nnd (loini'siic institution, and one wiih which, ai Minia. lersof Christ, vvn havo imiuing to do, fnither than in auii'lioraie the condition of the slavi. by endex, vot ing in impart to lion nud his master, the benign influences of lie lelijiini of Christ, nud Hiding both on their way to Heaven. Shingles and Plaster. OOD nnnols Nova Seolia I'laslcr, W 100,000 Shin-'lcs for snlo bv I'. DOOL1TTLE. Match CO, 1038. 3iv Fresh Box Raisins. QQ Boxes bunch and bloom Raisins, re ccived by laud direct from Troy and fur tale by the subscriber. LATiinop t Potwin. March, on. insn. Sugar Beet Seed, by J- & J. II. Pkck Si Co. Sicillian Polishing l'owdor. rpo clean and polish Silver Spoons, A Plated and Uritianin Goods Sic, Price 55 cts. per box, for sale nt the VrW ety Shop. PANGuunN di UniNSMAiu. IMarch 2-1. III3II. Dr. Perkin's Eye Water. FOR the cure or sore, wcok infln mcd Eyes for bale at tlu Variety Shop,

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