Ohio State journal (Columbus, Ohio : 1839 : Weekly). (Columbus, OH), 1840-07-08

              VOLUME XXX. COLUMBUS, WEDNESDAY, JULY 8. 1810. NUMUEIl 03. FRIDAY, JULY 3, 1810. THH CUltllRNCY EXPANSION ANDCO.NTHAC-TIOS-CAL'SE AND EKKKC I' CLEARLY STATED.Having, in our hist paper, disposed uf our first proposition, by showing that the (jriat cxpansii)! of our I mm I currency wus chnrjioBlilc iigiun llio Ad mi ni slr.i : ii.n, which, in pursuance of ti System, deliberately adopted, promoted the increase of Hanks and encouraged, nay orttiEitEO an extension of Hank accommodations and an increase ot Uank circulation: VYe now pro-: cecd to demonstrate our second proposition, to wit That t lie present depression in trade, the. prostration of our moneyed institutions, and the low price of all the fruits of labour, Bpring legitimately from the financial erjieriinenls to which these elements of prosperity have been unnecessarily subjected. la disposing of this branch of onr subject, we shall be obliged to (ravel over a widvr space than was necessary in elucidating llic former. Facts there constituted our arguments: and what was belter, our opponents were forced tu furnish them against themselves: Here our arguments will be based on facts, drawn from accredited and official sources, bill to which wo shall bo obliged in most ii. stances tu told the commentary. We hope to make ourselves understood, for tho proposition is to simple that it may hesnid to follow almost ns an unavoidable consequence of the unnatural infla tion ol the currency, growing out of the increase of U.irika. In reviewing hastily Ibis portion of tho policy of the Administration, it will he necessary to keep in view the fact deiiioiistratud in our first article, In wit: lliat tlio droit increase of S'.u'.e Hunks wbs MKAS- UUE OF GOVE UN ME NT POLICY; and that therefore the impulse (jiven to tiuiik, to spi-culatiox, and lo ixxinv, are traceable to (his Jint cause, and naturally followed as an effect. That the increase of Stale I3.ii.ts was a favourite measure of the Adminis tration, may be demonstrated hy numberless articles in the oflieial organ of (he Government, the Globe. The system was defended and urged in the most emphatic language, ns the only means of safely ngninst the attacks of tho "Monster" ami Mr. Clay, Mr. Webster, and other promineut nien of the opposition, were denounced lo ihe Stales, in gross and vulgar language, for presuming to cast n suspicion on the wisdom of the Administration in their choico of financial ognnl8. Theso things have not faded from the recollection of the public, and we therefore pass them by for tho present, lo be taken up hereafter, should their exhibition be deemed useful. The first visible effect of the cheapness of money, prod tire J by ihe expansion of our local currency, was discoverable in ihe impetus given lo trade and commerce. This may bo seen hy a leferenco lo the official reports from Ihe Treasury, showing a gradual increase from S0,87C.9eO iu 1830, tu SIB3,980,033 in 1836, trhen the bu'ible finally InirilcJ, or became to far collapsed by tho inllielinn of tho "Specie Circular," that it vanished into thin air in I lie succeeding spring. Yi ilhout here stopping to discuss ihe miserable pieeo cf quackery called "the specie circular" stigmatized by eomo with a much harslu r name wo shall proceed lo consider hastily the facts disclosed by Ihe foregoing figures. Al first view, Ihe difference be-tivccn the two periods of lime, dating from the commencement of die. experiments on the currency, to their final explosion, is so great, as almost to exceed belief. Many will endeavour lo account fur il hy referring the increase lo Ihe gradual reduction of duties; hut this will n it avail, n a plain statement of the manlier in which these immense foreign importations were carried on, will presently show. On Ibu withdrawal of lite II. if. Dank from its government connection, and on its becoming certain in Europe that it was not to be reeh.irlered, Ihe large capitalists and Hankers of England und Krancc -in ling upon thai keen impulsu which always distinguishes tho money Under, and rejoicing in the prospect of getting rid of u competitor which had met tbetu iu every market white Ibu American ft ig was homo by our har.ly maimers immediately stepped forward with their propositions, lo our import, rs und merchants, of a character loo tempting and flattering lobe resisted. Here lliett commenced Ihe career of head long extravagance nnd overbading, outstripping all former precedent disregarding all connexion between Mitpply and tlitnnndt for inasmuch ns mkans seemed abundant, hy reason of tin) IN'CKKASF.I) ClliCU-I.ATIOX furnished by Ihe great number of new Hanks, everywhere growing up under ihu fostering care of tho Administration no thought was given to the fit lurr; and llio warnings of Ihe wise and prudent fell ui unwilling cars, made deaf hy ceaseless partisan clamour. Coder tho lieu order of things thus created, the field was opciicd wide, and ihe harvest promised ohurv dance. When an American house wished Iu go into uV business of imposing, instead of applyii g lo ihe agent of tho foreign Manufacturer, lie direclu I his ap plication Iu the ugeul ol the foreign flanker, who had been Icmptcd In our shores by Ihe operation of Ihu tx perimiut. Al first, the credits easily obtained In Ibis country, were converted into bills on England, and transmitted Iu the London lljnkei, and drawn ngaiu from his hands lo pay ihe agent's bills of purchase, The system worked well, for the immi tli'.o advantage of bulb, and the greal increase of the rcpivscntnlive of money, in the form of Hank miles, on lliii side of the Atlantic, swelling tho means of ibo London Hanker hy increasing his profits, soon led le 111 nluptioii of a system of advances ol low rales f f inti rest, which resulted iufioading aur e.ounti y with the prwhtcts f kob- not hli'iur, in the deprivation nf cur own mechanics und manufacturers, to precisely Iht'samu extent which Uie i'mii'i if our Slate Hanks liail been turrit d beyond the healthful denundsOV OUl OWN PUODIHT Vl INDl'NTItY! This it n proposition so plain, that every man must see it on its being oneo clc illy slated Having proeeidid llius far, we might rest upon the aroouii lit iIim Imsu! by this statcme I of facts Hut we prnposo lo go n atct farther, tin I connect Ihe wasteful extravagance nod luxiry, which, dining lit prngrc'3 of Ibis part of the drama, scind upon the c...uiilty swelling nr.tonly individual expenses, hut lite expenses of ihu GoVKHNMRxr, In the most alarm. ing degree uf cxr.nrugiincc- directly with this ii 11 I imi if the cifi'encv: And not only thai, hut wo ebargu upon il '.II lh limit, scrrl l.vl ions, nnd DE .'Al.CATIONS, which have followed iu Ihe train of these txpcrinnnls, with the same conviction of being light, as tt 'ien we charge upon ihe Father of Lies Ibo paiurn'ny ol his numerous i.fl'spiii.g through all Ihi it Variety (if procreation. We have stated above ihe enormous increase of oreln important n bilwren ill! yean i'M a d I83(i. We prnposo now lo givo one more item, drawn from official documents, by wny of showing Ihe hasty strides we were malting uk a nation, in luxury and txlrarugiinee. Iu 1833, llio Importation of silk goods into the United Stales, was a fraction over $11,000,000. In 183(1, Ihe aggregate had 6velled lo the enormous amount of i!)J,0!j(!.8l or rising ELEVEN MILLIONS OF WI.T.A.-tS mure limn it: w.'iule timnunt f imports in 1S30! To no other cause than ihe inflation of the currency under llio Government Kxjterimenl, rntideiing inoiu y cheap and abundant, and inviting lo extravagance, can this wonderful result ho traced. No law of trade, based on regular supply and demand, with or wiilium'. duties, could ever have produced il unaided by unnatural causes. ' In connexion with this item of cxtravagar.ee in avrtrading, il seems not lo be Irrelevant to stale, by way of showing tint the government kept pace with the people, that the expense of collecting the revenue, derived from imports, ill 1823 and 183G, amounting, in each year Iu about the same sum, was, in 128, S032.003, and in 1830, l,3!7,409! And the expenditures of government, lor the ramo year, were, for ISiS, $13,090,011, and for 18311, $30,808,101 ! ! Like cause producing like effect unhinging all Ibo relations of business breaking down the barriers which prudence and wisdom had erected and letting loose upon the people a set of hungry office-holders, government brokers, and money-rhangers, lo devour thn fat of the land ! There is another view lo bo token of litis subject, rhich will forcibly illustrate the ffect of the Expan-Hon if llu Currency under the government patronage, .md Ihe tendency of Ihe Ivxp:rimenl lo promote SPECULATION. 'We havo allusion lo the sale of the Public Ianils. For the purpose, of illustration, we propose lo give a table showing the amount received fci public lands from Ihe year 1801 Iu 183G inclusive, contrasting litem with Ihu annual expenditures of the go ifirnment, exclusive of payments on ihe public debt, for the same period of time. Tliu table follows, and is drawn from ifficial documents: AMOUNT or I.SN l HAI.E3. lb'Jl, .Jil.8lis.9tii) liVJ-i, l,Hli3.58l nnvmtNM t FXPBNniTuiies. 1881, 910,783.47!) 00 1800, 9,809,013 0(1 1H03, 1821, 1805, lst!!!, 1387, U108, 18V9, in;to, 1831, 1838, 1833, 1831, 910,505 981,118 l.OIO.OIIO 1,393,785 1,191,815 1.018.308 1.617,1:5 8,309.351! 3.010,815 2,003.331 3.009.088 ! 4,HH7,f,0O!! 1803, 9,781,151 00 I 1801, 15.330,1 11 :i 11,190.159 91 13,(108,310 87 10,053,095 05 13,890,011 15 18,000,1110 GO 13.809,533 33 13,801,007 !ID 10,510,388 77 80,713.755 11 ! 18,105,117 85!! 1805, 1800, ; 1887, 1808, , 1889, : 1830, ' 1S3I, 1 1838, i 1833, ! 1831, 1835, 1835, 11,751.000!!! 17,511.950 88!!! 1S30, '. t Mui mill i ( I !. 1830, 30,808,101 01!!!! This labia is worthy of careful study. Il is a speaking witness ngiinst ihe Administration, unfolding at a si cole view the effect and tendency of its measures. It will be observed that during Ihe first thirteen yc irs ibo average annual sail' was 1,053,-1 10. On tie adoption uf Ihe Slate Hank system, in 1833, under Ihe patronage of the government, until its explosion in Ihe spring of 1837, the average ran up to 11,71.1,0:3, reaching the enormous sum of 'Vwen'y'f'iur MilliiuFirc llundrtd Twuvand Dollars, at the time the bubble burst, nnd exceeding the whole amount of duties received in 1830 on foreign importa tions hy rising of One Million and Xiutly Thousand DMan!!! In this ta!i!. we have the history of Ihe Expert- mcnl its rtiie, progress, and explosion, llio real demand for Ihe public lands could never have exceed ed 3,(100,000 or' dollars annually. After making ihu most liberal tiUcwances, il will appear, then, that the Si'klti.ator ill the public lands had purchased an amount excel ding hy some millions lite u tfilc twt'unl f SI III'LL' 5 II EVE Nil', which u. lo have been disliiliuted a aiong ihe States, nhciil which so many crocodile lees have been shed, and sn much inci k sympathy h is In en expended, for fear our sudilcr.ly acquired nalunuil wealth would endanger the pea en tile cniiliuunnce of the I'liioii! We turn 1'rom Ibis pari of our subject lor ti mo ment, to g'ance nl another, luttiii.itely contiecic I and iuierwoveii with Ibis (loitrnrntnt Experiment, the Si'KeiE f'im t i.ah," as it was familiarly called. This net, has been Irodden hy every writer n thn policy of ihe Administration; und although ihr leu- ileney nf that mciiMiro srems to have b- en gererally rightfully understood hy the public, yd we havo no Imihl bill that its fiiends had widely (I iff, rent uhjecls in view when ihey urged its adoption upon the President. Mr. Ili .vroN ai d his friends intended it fur n blew against tho Hanks the " Kitchen Cabinet," fiili KtMi.u.L al its head, iiiiendid il as a met sure lo help eff ilieir land tpccululiiint, hy checking tin.' public sales. I low well each parly succeeded, is now mai ler of history. Unfortunately fur ihe con,iir,ilnrs, their lands yet remain on hand ! Hut who stands ilnir creditor for the purchase! This we shall pro-setilly show, lu order tu he clearly understood on this point, it will he mcfssary tu trace the operations of ihu "Specie Circular," to some extent, iu its itiflitcneu on lha business relations of the country. We shall try lo make ourselves understood by every reader at all acquainted wiih ihe moneyed institutions nf ihe day their connexion iili business men nnd llti intimate relation thai exists between them, and ihe productive industry of all classes. That w hnl w e have lo lay on Ibis head may bo more clearly comprehended and hroitghl lo Ihn lest of experience, wo shall confine ourselves to the Slate of Ohio; nnd wl think we shall be able to ileuionsliuln lliul ihe contraction of ihe cuiteney was ns clearly vw ing lu Ihe measures uf the Administration, operating through ar.d by tho Specie Utder, us wu alnaily havo lliul llio IX- We sec il staled in nn eastern pnpcrthal . mos Kendal! is a dctavlt'T lo the gov, riiim n. tor in rn thnu 11111,110,1 doll.l s! Tlie iuleielice i that ho relived lent, porarilv troiil his office of Post. Music I General, mid took upon hnnsell the edftorslnp ol ihelioib'-, lo niil id the exltol ol his ability ill keepiutf the present Ailm'.nislrn-ii in in power, mui so lo irevciit nn iuvi stiii'itiun mio the co million of tlie 1M). Depuitaieni, Hence, lor,, the ap. pointmint ol nn tinscriipu'itiif man us Ins eu.'cessur, thill ihe lull power ol tlie I'Ci'ailui.-nt n.ihl bo lilt ill ihe n;i;'ioiclitiig eleciions. The iriith ut ibis rumour a. to tho defalcation, the public have u.t menus ol de. tcrtniuiiiir. All iuvcsnunltons into the Departments by couniiillei s, on the pait of Ihe Iteprinenlalives of Ibu people, wc have seen, nre iuslnnlly vnt.-d ilown iu Con. urcea liv Ihe pitllisnus of the Admin, stratum. Tltis lenvestlie w-orst lo be llll'ern il. The p irtllers of Kendall ill his Inn. I pjnTtitutii!!, in pios. ciiing which ihn lb talenlioll llriv he BUI'poseil to hnv.' !el,i II .lace, were the proi I'lient nnd netive supporters (! Mr. nil Huren boibnt Wnshiii llm) nnd Alloinv iiiclinliii! Mr. llutlir, lute Atl iriley (iencrnl, bis heolili r, Chillies Duller, Mr. r-ennli-r Wright, Mr. 1'ionvcll, editor ol llio Alhnnv A ikii, liov. Mincy, nml a lotiLr list ot others, nicup) ing ihe siiine inoli iu the pari' . Tin ir greatest siecu!itnons were rnrrud on itntiur en a-fuiiuiion known n the Autelie in Lnud roinpnuy. pansion sprung from thn multiplication of State Banks, at tho instance of, and under the p itrouago of ihe general government. Tim elf.-ct of thn Specie Order was first felt by the Hanks iu the Western and South-western Stales. I!y degrees it began to operale on the Banks in New York nnd the' Eastern and Middle Stains generally, draw ing from them their specie lo supply the vacuum created by tho demand West fjr Ihu purehtso of lands. The Deposite Hanks iu the Western Slates were the recipients of specie thus drawn lo the West, and were exempted in tt great degree from the first shock producid upon the business of the country. The Eastern Hanks were not so forltiiiale. Their circulation was returned upon them for coin to supply tho Western demand, and Ihe (fleet was lo produce an instant contraction, not only at ihe East, bill al thn West, lo guard ngainsl a drainage- of the precious mends, (-xlr-n. tdinary in 'tis chancier, before unknown iu the history of finance in this country, and, us now generally conceded, wholly uncalled for hy any public exigency. We will exemplify our reasoning, hy shewing the effect of the Order on the resources and currency of Ohio. The immediate effect of the Specio Order was to create a necessity on p.".;! of ilea Banks in Old", of withdrawing their means from ordinary use ill discounting notes and bills for the purchase of tho produce of the country, to llio purchase uf specie in the Atlantic cities for the supply of (he extraordinary demands made upon them in the piK-Unse of public lands. The amount of Hanking capital in llio Slate of Ohio actually paid in on the 31st of IK-p.eniber, 18,'rft, was 9,0 17,897. On the 1st of January, 18.10, their cir- i eolation amounted to S9,731,l l.'t On the 1st of January, 1337, under Ihe operation of the Specie Order, their circulation htd fallen to gH.XOO.STl Jit- a reduction of One Milinn jvur Hundred atui'tuitnltjcven Twuwnd, Four Hundred and Sii-ly -nine Dollars! On ihe 1st of Jan-1830, the amount of specie m their vatilie-was $'i959,-537 On the 1st of January, 1837,. A was $3,153,331 showing an increase, uf only 193,707 dollars, not withstanding the diversion of their Eastern funds lu Ihe amount of nearly Tump. Million or Dui.t.Aas, In purchme tptcie for the tn.pply of the demand created ' ' by the policy of the Administration. in issuing the far- famed Specie Circular!" Let il be homo in mind, in canvassing Ihe startling fads shove disclosed, that luring Ihe year 183G, whilu-the C ire alar was in full operation, producing the disastrous contraction here shown, the Gonrnmtnl D.positct in lite pet Jinnies (as exhibited by their Report lo ihn LfgUhlure in Janu ary, 18.17,) had inciieaskii in their vaults for Ihe cur rent year ending Dec. 3 1 si, 1830, ihe sum of Ton Mil-. lions and fourteen Thousand, four Hundred and forty-six Dollars 1 1 Che purchase of specie by the Western Hanks, con sumed their credits, based upon d',posiies in tho Eastern U, nks. II. ul this Consumption of credit taken place lite ordinary titode of diteount, in aid of the purchase of ihe enonuci of Tim c ountbv, the means of the Hanks would have been mc fully increased, both al itie East and the West. Hut the 'nil for specio hy lh Western Hanks, whilo il reduced tittr ability tu i!c:ociale domestic bills, nlsu reduced the means of the Eastern Hanks in precisely Ihi same ratio, The result of ibis operation may be thus stated: Contraction of circulation in the year 1330, $)I,107,I09 Lien use of Gov. D. poslles, same time, 2.01 1,1 If.. Diverted lo the purchase if speuie, A. rot. withdraw ti from active use East, 3.000,000 3,000,000 89,111,915. Deduct increase of specie on 1st Jan. 1837, W.1,797 7ut.il Contraction, $9.018,1 18 Anil, of Hanking Capital, Isl Jan. 137, 17.ai'7. Here, then, in Ibo single State of Ohio, by the ope rations of the "Specie Circular," wn find withdrawn from nclivc circulation locked up from ihn use of ihn business community, nri nm'iwtl f money EXCE ED- I NO THE WHOLE HANKING" I'APITVL OF Til E S I'ATE !!! D i Ihe People still ask what has produced Hirtt Times? Let llieiii turn tu this state mcnl. Do Ihey still wonder at the Stttprnsian t f the llanh? Let tliein look over the facta here diselo.e.l. Do they still hesitate as lu the Into cause of Inn prcs- enl War tm Ihe Currency? Let them examine ihe rise, progiess, nnd design, of the recently cxpluded con-! lug organ of the ft derul tuillil'ying parly in South Car-piracy, and sen if ihey cannot delect the same objects olina, should1 open Ihn eies of all true, friends of Ihe in the Administration fur ils pertinacious udherenee In inslilulions of our country, to lha recklessness of the the deteslihle Sub-Treasury Scheme! .' course pursuing by the sitppniters of Ibis 'Northern Hut what, il will be asked, has become of the enor- man wiih Southern principles." Preach on, gentle-inous uinounl of Surplus llcvenue, nominally derived men holh Ihe North and the South understand the from the overgrown SPEC'U LUTON'S IN THE Pl'lll.ie LANDS) Hy lite- most liberal allowance that can bo made for t'ie real demand for nciu.il settlement and bun i fide investment of eapit i), say three millions of dull irs a year, there will still be left an amount greatly exceeding the boasted Surplus Itere-line, derivable alone from the hin t Sneu!utions pro- VnL-o.l mo I ii",itr .r,.,l n.v uu . ..-t-1. -..,..1 MllV(1I. 01,1'. El), by Ihe immediate friends an-l numbers nf tho Administration! The last instalment of this lt.iv-enus duetulbu Stales, is still withheld and ni.piij. Hy Ihe Report of Ihe Secretary of llio Treasury, il ap-pears that Ihe debt due from the Deposilo Hanks al Ihe final explosion of Ihe bubble in 1837, has hern reduced lo a sum bill little exceeding a million of Dollars, The government having got hs pay, in what condition has the Administration left Ihn Hanks! Tho system adopted led to the incrutie of Slate Danks, and encouraged the expansion of Iheir crfcutavion. This led lo discounts in aid of Sii:ri i.ATIONs hi which the mentliers if the Cabinet participatkii, largely swel-ling llio Government Deposiles in Ihe Hanks. The Government, being a preferred creditor, has got ils pay. Again, we ask, in what condition are the Hanks what have they gol for their discounts in w hat sit uation are Ihey now lo perloim Iheir usual service to Ihe business public, mid hy wbosn acl were they hrom.hi duwn! Let il be remembered, in aimwciiiitr these ipieslioiis, thai the unavailable debt dun llio Hanks, In which much i f iheir active, capital is swallowed up, was incurred iu lending these eery Dipnilts to the favourites of the Administration, and lu a select few, iu compliance w iih Ihe policy recommended hy the bead of Ihe Treasury Department! Ami let it lie farther remembered, that largo sums of this money are still due from Ihe authors if the speculating syitcm Ihemselces, while the Hanks, by a refinement uf base-uevs only known In Ihe public plunderer, am held up lo llio people a Ibo iiulhors of a calamity over wbii h they had no control, nnd Vetigoancii invoked ngaiu'l them lor not resuming their functions lo the column-niiy, In loud nnd unceasing cries of Hank liform' Hank lli.t'oiiu! ! We feel uhligud lo bring ibis long article to a cluse, without touching upon several strong points involved in thU question such as Ihe destruction of confidence hy Ihn removal of the deposit' ihe derangement of the balance of tr id by excessive importations of spe cie, in pursuance of ihe Administration policy, which has since found its way back lo Europe the defeat of Mr. Clay's Land Hill, which was calculated to arrest these enormous speculations and return the money to the States from which il had been drawn, wilbnul disturbing ihu relations of debtor and creditor between Ihe Government nnd the People. Hut lime will not suffice: And we fear wo should exhaust the patience of the reader. Enough ha) been said lo give ilia intelligent observer a fair view of ihe subject. And we ask all audi lo go back again, and carefully review what we have said. If wo have demonstrate.! the propositions with which we set out, we nsk his verdict against the present Administration of the General Government wo ask him to manifest il in the most solemn way known lo lly Constitution Ay '" ballot lest he should find, when il is loo late, that he has lent his aid iu perpetuating a power superior lo the Consti- !"'.!:", sr.- which, in carrying out its mad schemes, wirl havo left him noi even the poor nun's privilege, thai of complaining ! TORY CAINS, The Statesman, and its kindred prints, anxious to keep up a show of courage and hope amid the gloom the overwhelming defections in the parly have thrown over their ranks, are catching at every straw lint comes iu their way. They make large bo uts of gains, nnd occasionally venture to give names. Too ufieu, however, for their cause, when they reduce their "oiiy nothings" to a point so near tangibility into mw llmse whom they claim as converts, they find themselves out in their reckoning. The Statesman uf the 87th June contained a communication under the head of " Greuu County," slating that "nine strong Whigs" wilhiii Ihe town of Fairfield, had declared in favor of Van Uuren, but giving no names ; also a communication from Hebron, with names, lu which nllu-siun is made ill Ihe following letter . IhimoN, July, 1, 1810. For UieOlilo Stale Journil. Mr. Editor, Having seen in the Statesman, tinder " . , ,'' 1 u'" ,"n " " P""5'' Uiiol iriined llm I. oeurocnp. a Her havtnir seen 'ieii. Har rison, I now you tell you, sir, thai il is a lie, a point blank lie.' 1 never saw General Harrison in my lite, and 1 should have keen, much pleased lo have seen him w hen he passed line, 1 pronounce the writer of that notice n Liar, So far from Geneis. ILirtison losing ground in this place, there are some half a dozen respcciablo persons hero who have bolted from Van to him, and declare the same independently. wish you, at least, tocontradict-the fclnlcm'tit, so far as mv name is concerned. Yours,. ELI AS FARM Ell. ANOTHER! The Muskingum Valley of 08th May, contained what the Editor called a damper, which was thai S. W. Smith, Esq., at a meeting of both parlies, " camo before Ihe congregation, and publicly renounced the Whig party, w ith whom ho had long before acted." The story coming lo Mr. Smith's ears, be addressed a letter In the Editor of the MeConneUville Standard, from which we make tho following extracts : "The charge thai I havo left the Democratic Whig parly, and joined Ihn rinks of Locofoc.oism, Is niter-iy lalse. I have not chanced. I alw.'.vs was a Whip, and am yel, up lo Ihe hub." I m ver did, noi never will support a L'cofco candidate, because 1 am per suaded Ibo measures of Ihe Van Huren party are at war w ith the interests of Ibo oconlc. and dero.Mlorv In the I hlli.luo.unl . . Ilw..ru ,.t 1 1 in l,,sllol U'i, ltd the nncieril landmarks established hy ihe Willis of , l ; Hie dnclrtnesof Wishtnijton, .Icllersnn, an I Madison ; iu fine, ihe trim principles of Republicanism and LVinncrnct. "So long, iben, as I feel a painotic emotion in my breast, it shall he breathed in Ibu cause of the coiintiy, and the cause of Hie Whigs. Sami.. W, Smith." So crumble away ihe individual props of ihe Spoil rrs, and such are tin ir assertions of sains! Of like character are all Ilieir pretend' d hopes, bright pros peels, nn J. ureal gains, in districts, c imlies, and Slates far stronger and sweeter iu the vague, imh Ii i ..!. .,.,,1 .tirr,,.,, ,JfS. it. ... ! .,n concentrated c:. ! iriu. I m - j WHAT 'i'ilEY fAV OF MR. VAN Dl'llliN AT ' THE StIL Tll. The following from the Charleston Pa'riol, ihe lead- difference between open profession and skulking hypocrisy:Il i matter of siuprsss as relates in Southern In-stiitttroiis Ihal there should be any hesitation in choosing between Mr. Van Huren nnd Gen. Harrison, to conduct the government of this country. Il is susceptible of ihe plainest proof that Ihe former has purchased peace lo the Union and exemption from agitation for at least a considerable period, hy casting the moral weight of ihe governineul into I lie scale of Southern lights. He has wrought a re-action in public semi-Hu nt in that section ol uur confederacy where danger, in this regard, was most imminent, He has nrresled nirdway in hs ft. ! tan-en, Ihe progress of agitation. He Ins lolled hack the billow of Ab ililion. So soon as bis In.iugtiMl Address was made il struck al Ihe heart of llio Agitators and their plans. Their weapons fell from their hoods. Their oratory was dumb. Their inventive powers were paralyaed. Their presses became mute, lie deail ilum a blow from which Ihey have nut yet rallied and recuvcred." The comment on this lJ, that all the Ah d'nion papers iu tint country, denounce Harrison and favour Van Huren. This may be eullid blowing hit and told. jYo Caiig'i.' A paper iu Savannah, Georgia, gives the names of 78 voters iu one county uf that Stale, who have acceded from the Van Huren party within Ibo last two months ! Six members of tho Commit- ( lee (T igilance Tor Russell county, V irgnna, have I nlo " hcekd to llio right uboul. Seven mechanics of Fayette county, Tennessee, who " ueilher bold dor sci k ofliee," havo also abandoned the cause of the spoilers, uud declared for Harrison and Reform, Ktndall't Extra. The Ah Xandri.i Gaelte says: " Wu understand Ihal Mr. Kendall's Exira Globe tho source of such an income lu liim, and from which, il is thought, he will ciuc some fifteen thousand dollars in nhout fivu months, (we wish wu had that prospect lu filleun yeurs,) ba, thus far, very much disap polulcd expectation. It is said lo bo quite a dull mid powerless concern. If even m.uiry cannot uddvigir to K ndall's pen, il must bo "a gouo case," The bloodhiiiiials have all been given away lo private ciiitt ns in Flotida. So that enlerpiir.e has failed. And pray what cnlerpriae, undertaken hv the ( ndminHlruliuii, has iiv) failed ! l. iuiscille Jour, VV II 1(1 CONVENTIONS. Our political fiiends In vaiioits parts i f the Stale, have expressed considerable solicitude in relation to the holding cf a convention or conventions, previous to (he ensuing fall elections. Some appear anxious to have a greal convention of Ihe young men of the Slate, iu accordance with tho recommendation of the Young Men's Nation il Convention, held al Ralliinore in May last others think il better lo divide Ihe State into three or fitir nreat districts, nnd hold a convention in each, while another portion think it advisable to convene meetings al one or more points in each Congressional District in which such meetings have not already been held, so as lo give our citizens more generally, tin opportunity of attending, and of meeting Mr. Corwiu, w hom they generally appear anxious to see and In nr. Various comiiitliiieations have been made lo lite Statu Central Committee, in ftvor uf lliese several plans. These communications have been considered hy the Central Committee, and after consulting with Mr. Corwiu on the subject, they have concluded lo (rt-umincnd tho hoieinj of me. lings in the Congressional Disiricls. The limes and plans of Inldiug tbeae meeting will be determined on, w ith reference lo lite convenience of Mr. Corwiu, as soon as circumstances will permit, and Ihe result published through the medium of the newspapers."HOLLAND'S LIFE OF VAN HI.'llEN." This Work, we see by Ihe Inst .Statesman, is now pronounced a "vile forgery." When il first made ils appearance, il was lauded lo the skies, nnd every Federal Van Huren in in was advised lo secure a copy. Tho following from ihe Globe will show iu what es timation il was then held: Friiimtx U'-u'iliumn tt'o'ir, ml.. 1711., 1II1G. 'This acceptable volume, we did not receive, until after the commencement of this aession of Congress; and since then, pressure of business his prevented our nonce ol It. I his we the less regret, ns it lias been very generally and favorably introduced lo llio public by the Ueniocratic papers ol Hie country. "It IS a neat duo,lccliuo Volume, ol JO I pages, into which the author in accomplished scholar and civil ian has compressed much Interesting political history, together with notices of the principal events in llio life nf Mr. Van Huren. It is written in n vigorous, manly slyl' with great candor, and free from tha spirit of a p ir'U',n; and rather with a view, as the author observes, Mo display the spiiit nnd principles of the Republican party iu Ibis country, and lo ex hibit, by the history ol an inilivtil.ini, llu nature ol the relation w hich that party sustains lo its public men,' than 'to contribute lo tlie political elevation of any man.' "We wish ihe work nn extensive circulation, and recommend it, in strong terms, loall those who wish to loam the truth respecting the pclitieul course and opinions nf Mr. Van Uuren." This recommendation m iy he called a firgtry for aught wc know. Those who h ive any curiosity on ihe subject, nre referred lo the files of the Globe iu the State Library, w here il w ill he found iu black and white. Wonder if the Statesman editor has forgotten his pious wish expressed Inst winter, that the d u bmh might be Uurmd up, for no other rensc-n than be-causo it gave too clear a statement of Van Hureu's course in the New York Conveniion nn llio negro right of suffrage, and other kindred questions! Wo think ho will experience no difficulty in rrcolleciiug thn scene in ihe Pml ufli'V. Tho leaders of a parly thai deal iu forget circulars, should be careful how ihey commit themselves. This will nccoiiiil for tho sudden denunciation, f the hook but the Whigs will "charge'" il lioiuu upon them. FEDERALISM ALWAYS THE SAME. The editor of the Uohintorr Hi publican, the leading paper of the administration party, is now and always has been a federalist. He il was who first gave rut rency lo the sneeragainst lite Candidate of the people by recommending him lo "retire lo a Log Cabin and drink Hard Cider," Ho was also a signer of tho "confidential" letter nd-lressed to Mr. Vim Huren, recommending Ihcdistniss'il of the IWu Army Officers ul I! iliimorc, for noi purchasing supplies of "the party." These movements hettny tint old ultra proscriplivn federal principles of I lie man. In 1883, this man, who rej. icea in the name of Samuel I linker, published a piper nl Wilmington, Delaware, in which he published the following slainb-r tigaiusl Mr, Ji ff, rsnu: " I'll,' unprovoked attack which Mr. Jefferson has been pleased lo make upon the Federal party, without -my kind nf necessity or reason for il, is nllogeiher unjustifiable, and can henecnuiiied for on no oilier tirnund 'bin ihe MENIAL 1M 1110(11. 1 IY or unhallowed resentment of its auihnr, mutt consummate intriguer. 3io had been i pposed lo ihe adoption if Ihe Federal consiiliilioe: loveieled himself into Ihe favor of the people; undermined the men who had hefiietided him, and rend red him popular w hen Inr otherwise, on account of his npposi ioii lo the constitution; misrepresented their motives and actions, ami instigated olhers lo insult and abuse ihiui, m,d at length sealed himself in Ihe i halt ol the Chief Mautsiraey f the county, by course of the MOST SHAMEFl l. DOCIILE DEALING AND PERVERSION OF TRUTH AND JUSTICE." Thus the federal leaders talked iu 1803, about Mr. Jefferson, nnd thus Ihey talk now about the pallid Harrison. Wo have n lung list of ihe prominent men in ihe Van Huren Tanks, who were uld blue-light federalists, which we design toon lo publish. In lite mean time, to show the compleio union of sentiment md action now existing between Mr. Van Huren and the old federal party, we would call alteiiliuu lo the following cxlraci from the Demueru'ie lleeicso, a work established ut Washington for llio purpose of propa gating and defending the leading principles and men f llio administration. This publication is under Ihe immediate patronage uf Mr. Van Huren and his pur y friends, and miiy therefore be said lu speak ijficially I'hu extract may be louud in the February number, page 131, Old Democrats, read! Here il is: "We nre, however, proud lo confess a high respect jorlhal fli .tit old federalism of the ILiinilinuinn eta uf w 111111 Jiutoii M'tigewicK ottcreu one ol Hie iioesl specimens. It was un honest faiih a pnlriolic, true-hearted, uud high minded one and very natural to he political and social circumstances of iho limes, And su I ir are wu from participating hi Iho senseless bins nf pn judicu ng ainsl any present member of thn lemocrnlic party for tin bomst allnehmeni al a long by-gone day loili.it antique ' Feilerili-Mi" which can r, f, r lor its jiisiilii atioii lo Ihu mime of ll'iiKhingtun, hat, on llm contrary, filch n change of opinions being iu the direction uf, mid nul iu opposition lo the progress of Iho limes, the development uf principles, and he evidence of evpeiience, we look upon Ileal cireinn-statu o, provided it be unliiiiiled by any upp renl mo- ivu of inlerest nnd iiiuhiiioii, ritther ns a presumptive -vitlence of true integrity. Jiinhtiiifs, and pAtrinltsm; tnd of such a sound basis of rt flection and t nlighieiird onviclion as affords the safest ground for piliticul con- i-.li nee nt Ihe present day." This is open, llinlisguisej profession, Who, after litis, will dare call Mr, Van Dunn a democrat! A great Harrison meeting was recently held al llol-iilllj s, I'eiin'ylv.ini i, (fcJ-MR. C0RW1N.-O) Mr. CuitwiN Iras consented lo address the citizens of Franklin county and such others as may be in ihe city at ihe Market Hon6e, on Wednesday nexl, al 18 u'clock (al noon.) It is expected that Gov. Shannon will be iu town on that day; and, should this be lh case, he will also be invited lo address the people. A MOUSF.R AT THE LOG-CABIN. There was a rally at the Log Cabin, last evening, to hear Mr. Cobwin. We need not say the people were delighted and instructedmany heard him for Ihe first time ; the offtet-lmldert never waul lo hear li'mi again. The meeting was also addressed in ihe happiest manner by Gi n. Murphy, of Chillicolhe, nnd by li. W. Thompson, Esq., of Indiana. Mr. Corwiu is on his way to Newaik and Zanesville, to ineel his fcllow-citiiens on the -fill. By arrangement, he will address the people in holh places. CELEBRATION OF PERRY'S VICTORY. The Hurrisonians of Daylon have resolved lo celebrate Perry's Victory, on the 10th September, at which there will no doubt he a largo ct'nrjreoaticii of ibo HYENA SYMPATHY. The tears of Ihe Statesman flow copiously over the murdered remains of poor Davis, of St. Louis, in hopes of producing political effect. He forgot tu slate Ihal Dames, w ho is charged w ith lite murder, was rt member of the same political party with Bavis, and presided over a political meeting of the friends of Van llureti, n short lime before Ihe affray took plnce in which Davis losl his life. The vdilon was in Baltimore when Laiigblin was murdered, nnd'lold his readers iu a letter, thai " the man was subject to fits, am) iu bis. rage fell on the pavement, and did not rteuter! ' The sympathies of such a man are but Ihe blubbering uf a heart festering in corruption. Little Lane We see il announced ill Ihe Katr,o papers, that tittle Isaac Hill has been appointed Pit- indent uf tho Mechanics' Hank al Concord, N. H - This is ihe man w ho, w hen 3d Comutru'lcr of the V. S. Treasury, was Ihe first lo break ground in ihe scheme of converting Ihe U. S. Hank into a party machine for Ihe Administration, by asking; for lha removal of Mr. Mason, Presidenl of Ihe Dank nl Portsmouth, because of his political hi slilily to Gen.Jael.sun. This was in 1889. The movement was regarded as an unwarrantable iiilerferenee-an the pari cf Ihe Government, and failed. Isaac was then for political Hanks, if ihey could only be brought lo bear on llio light side. How is he now ! His Lccofi co brethren hould look lu il.' MAUK1KI), On llic 181li ull.. by llir Rev. N. Emisv, Mr. JiibKI II WAI.-I.AI'K, of ltauloii lotvinliit, 1'i.rrr Co., lo Sliss CI.AUU&A I.OI1I Ml, of I ti iiilen lYwitslitti, fialiklin Co. Un Hit I -I tiisinm. I'jr Jaiils (hum, En- r. ItCNR V THTI. to Ml.. 1MK.MI lil.ANK. (in Tliuc'tny, llu 0(1 limsnl. Iy Ills Rev. Or. Hoot, JOHN (,. Mll.l.l'.lt, iss.. Major i.C lie City cl I ' unit ns, si,fl (-'dllcr ul tin- Ul lo Cc, mi ill inie, lo Mrs I' IV ( HI if II V.. nUOs rllyt OllllCAIIV. Itc-iattftl II. Is lifr, on ll.n of Jlll.e. (Tu(!ny.1 Colonel WILLIAM 11. e'IKIlltl.T, in tlie TUili it-root l.ut sgli. He h-ns lorn In llir ruiiiily t( Lsienster, 1'ciiH.ylsAiiin, un Hie Saili ot Filnusry. 1713 Itft km a mntinl ol II a l.'niver.liy or ft inn ton, w litiilla.1 rnulsi li'-lnr ainl t lillr.auil.( r Well e nrtoou. mi I'rt sttteiil, ami lie iriniliiuirO wlillsl Weil.er.puon tsutai llit-lirt.it of llibl ri ll lirtillii Institution. lie liilvtiiiairtt it wl'li M,nv. o now sinvWis loin.) di.uyl.lt s of HiibLiiT Ci.i:-.ui:t, s, of Mttitiii.t titeli, Xtrn't-U; m.d fur a liuiiiler of J rats, irl.iial liv rcnlnl in lliilntt-lilie roiinly Virginia. I. e tilled tl.o ollire nf one ol tlai Juilets of ll.a Col lily Conn of II. iiil-ftlilrciit Hint ieitt d only lo I tied and l.eld l.y nii-n ol Hiiiwii ul.tlliy nii.l iiilt-ctliy. tic tve an curly iir.i.rs:i uf tl.e Wetl. ti.d, st tn enily s-rlott in He lilslt.ty ol out HI ale, win a lli-lnltr ot ll.e l.relslnlurc of Ohio; and. v, I ell-er tn II esrralct's r-retf or on ll.e ftunroflbs. Iloioe, wn. ntwny. let-mittd will, yrtal blluitton and rctrl. A rlolar if lie ota Ml.oul, not liuultl inn day, lit. leaintus was Hie fruil of ninny yeara of lard stwtly. Tee Gtirs suit lira Lmln rtt i.irs were I. Is t.mlllt r I ns.k. ; and in ItlFloij-,((-r-rlntly Ainlctit.) I.e I t.d no su- eiior, trd lew cttih!'. lint he was a niati ol tei-retul ji.il lotlrlm l.al-ile' wl-at I.e M new una. known oi.ly lo Ml Itiiil'ed a"i rlalra. atid Hie greater and l-fLrr lliryueie, tl.r mote Hay loied li-d ndiiiiteti U.e U-an and taw sel.ular. An attentive it niVr of ll.r wr.nl (f (iot, irlenlifir and tearaad as l.r wn., l e was Hie letter nlae lo tend aieL wndea.tnud ll.tt motks of II e II ioIheIi 11. hint list liia l.opr on l) e word nf llott utotic. He lived t'uiii g tdr luller Mtl of lite, nml die,!, in 11 o fultlt of ll.r rrc.t.j 1,-ilitn riiiltch.a Minn of treat lei.Tiilii'f. luucli renilliiit. and eeiii.ay I'leiy. '1'lie Alillliirv ol lie e ty of Cn!l:lt,l,u.. rviilei.rln-l .flr ptlil- tilltiu ai d rtulaif ltlr, eniiresntl a ilcirrln laity llic vnldtcr (for tit wn. tine) Willi It o l.oeo of wai l ut lit (live rliarte to lilt fmnlty Hint mi on, p or paretic alioulil ar,-OHitniiy loin to Ills 1-oti.e nf rlny, faytng Hint nf wlmleter III liln we limy leu k lo men, lu dt-atli we al oitlil look only lo (iod. 111. ri-mit'iis wi-re nllenrtstl l.y l.li .oriowlna whIow. rlill.tien ninl Grand rliililreii, to ll.e l'r(-lyiertnn. TIiiih 11,-nlir-ie 11 e Una. Dr. Ilonii dvllveird n most rloqnet t and liniiee.lvo iliartiiirar attrr welch tin tens fotlnwtsl In ll.r irnve, ll.rrc lo rilitsln mill! 1 l.r minimum nf u.e J't.i ; at.d ii Imd otlrn Incn 1,1. fnvnnt oral rr, Hint II. co nnwl dear lo lam !n life., jtltottl.! meet tiim lu iltal II, n.e not uanie w Ull tianila, rlernnl In Hit Htaveiie.--CaBi Ma auafrrf. Mil. UKOVVVM SKI.KL-I' HCIIOOI.. Til IH srlioot w ill ls rr-oM-ur,l for Ilia rrerSl..n of nupila, OA IVeilnritlay. the 7lli of July, lu Hie p!caaul room rtrcnuy iTriifltd Ity Mr. Ilnpklne as sHtrlrail gallery, near Hit corner ti HijIi mid I Own alteela. tuitu-n, rra QrAnTEn cr Twn.va wrr-irs: llendiiis, Wrl'liif. Arltliitietir.Heitffiaiilty Ai firs tar, (a IK) rt.lltisopl y.Clirtr.l.liy HeeRtneliy ol'tlie Hravei,a,ric , lu INI Hret-k and l.ttltn Lnntnaate, Aigelra and Httrvri ley, li 10 flailonery Is Imi nUtirtt ; attn, iturlits Itie lit al Inrm. it art r.t.etlrd dial a course of l.tsanii. In frtiman.tiip will l ivrn by one of llic mo-t surec-sfnt trnrlirt. nf Iltal art. The iMlroos nf ihr eVImol will ceananrale, bei eaner, Ihe (.om. niillse uf e&utiutitloii; nn.1, na lefore. no HimIoii will l rrtUtml uitlsaa that comnill ec altall Aet-M anrela cannilnalion frftctly sali-fnrlory. J illy. I, IU 10.. 11. HTATR Of TIIK Kit A Mi I.I N UAK OV Klt.l VIIII H. Jtmr JO. til l. P-le line from I'sstrt ii llunka.... laK!5 line fioni IVetaetn Itank. li-OHI L's.lern Hank I'ttiierniiJ iirnlls PronitM-noiia Hank 1't.ixr Kiltida In IratLlln x.tai Hill, and Nolei HierouiileJ 3U.443 einrki MUM Krai nml I'erinnot Kstale I'.'.UaU llnnk Agency Ib-Ui - Kk-enMa, Hnlarles and Premiums 6sl) .B7.Ctl Uli.ra JH.'.-liN !,V4 5!.4 li II.77J 7ua:e 1 Csiltnl sttiKk (im 1.1 In . I'toiit., liiKOitnt., Ac. nivldeutla uni.il,l Noli, lu rlriiilblion ... line lo liauka Hue In llejioslltit. Htisot'llst Oriltl.-d hy Jo y :t..at Statement of tlie (Wi'i n if the ( I.IVTOX Ul.VU Or' lUILl'.MBl'H. June 30, lain. Nnte. and mil. tliei ounli il Su-truilist ticltl Ilnnking Holler null ulliur Itetll I's nt Hue friiin ttnllks N til. i or iitl.er dn., nntl Hrnfie ....... lio'd atitl ISilvrr Lv,llue ...t.ti7.i.7 tilt .... 1.112 ID .... in ft all.'I .... U.H7I M .... :i'.!H7 -l-i .... tm.: i:i ... l.liDltl Crt,ltst Kl.trk Comlngm! t'liiiil anil l'i Hue l,i Hanks ti.u.ilrs Cirrnlalloii .i.ttiorssrii . .M.lli.l HI . M3 4 .. nfl.: 0 li .. U7.I-IJ fJJ 47T.7tm it jiTronn', ca.iri. Jtl .1. II.