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"Although vast numbers, rerhaps fifty thousand

About the year 1798, he became seriously embar- Secondly, that the claims of those having legal de of the peopie. left a city towards the close of the rassed, and died in the year 1800. As he was a mands against the administrator would still remain day, yet the town was fined with the vast fragments debtor to commonwealth, the state had a lien good against him notwithstanding his discharge in remaining, and during the evening thousands upon on all his lands. Many of these have been cleared bankruptcy. thousands were listening to the animated harangues of all incumbrances by compromise, but the lien Thirdly, that if these creditors came in with other of different eloquent speakers at three several places still remains on more than a million of acres, ren- creditors for a share in the assets of the bankrupt, of meeting. When we left, at eight o'clock, Mr. dering, as a committee of the legislature say, "titles they would be stopped from further proceeding EWING was addressing an immense multitude which doubtful and uncertain, retarding the improvement against him after his discharge. And, thronged the main street as far in each direction as of the commonwealth, and keeping all concerned in his strong voice could be made to extend. endless suspense." "Never were the PEOPLE in western Ohio burning with such inextinguishable ardor and enthusiasm.We shall make a clean sweep west of the Sciotonot a wreck or relic will remain."

We learn from the Lexington Observer that Mr. CLAY is to proceed from Dayton to Indianapolis, where, as well as at various other places in Indiana, extensive preparations for his reception and entertainment are in progress.

ILLINOIS.

The "Times and Seasons" of 15th Sept. says that on the 4th inst a letter was read to the saints in! Nauvoo from Joseph Smith, which it publishes and from which wo extract the following:

To all the saints in Nauvoo:

To adjust the conflicting claims of landholders, heirs, creditors, and the commonwealth, the legislature of Pennsylvania a few years since, instituted a special court, called the Nicholson court, with plenary power in the premises. And the people of Erie county in that state, have been not a little astounded by an order from that court, which, if carried into effect, will cause nearly the whole country to pass under the auctioneer's hammer in about five weeks time! It appears to have been the first intimation they had, that their lands were embraced in the

claim.

Fourthly, that fiduciary debts, contracted subsequently to the day of the passage of the bankrupt law, would entirely prevent the discharge of the bankrupt."

GERMAN OPINIONS OF FATHER MA

THEW. The fame of this great and good man has zation exists-as far as the limits of his humanizing spread beyond his native country. Wherever civiliinfluence extend-the name and services of Father MATHEW are known and appreciated. This is true

this is solid renown; not the ephemeral or doubtful renown of the statesman or warrior-not the renown which is accomplished by the blood or misery Great also was the surprise and alarm in the coun- of our fellow-creatures-but the more enduring retv of Beaver, when a handbill was received from putation which is based on good acts, and which the Pittsburg on the 24th of October by order of the world will not willingly suffer to die. The labors of commissioners of the Nicholson court. "September 1st, 1842. On examin- Father Mathew are inscribed on a more lasting meing it, there were found embraced in it, two or three morial than perishable brass or marble; they are hundred tracts, of four hundred acres each, alto- written on the heart of man-they are inseparably gether exceeding one hundred thousand acres, of the associated with his moral and physical welfarebest land in the county, and embracing nearly a they are part and parcel of his future progress, and fourth part of the territorial limits. This advertise- will be remembered among those fair achievements ment to sell is, it is alleged, the first intimation that which "smell sweet and blossom in the Just" long John Nicholson ever had a claim to a single tract of after the faithful missionary of virtue has passed land in the county-the many hundreds, nay, almost away from the earth. thousands of persons now in possession, not dreaming of insecurity from that or any other quarter. Such is the effect of speculation. Through Johning a paper on the subject of Father Mathew in a literary journal published at Leipsic. The notice is Nicholson's all-grasping cupidity, the peace of whole written by a lady who seems to have been inspired counties is disturbed, forty years after his death.

Forasmuch as the Lord has revealed unto me that my enemies, both of Missouri and this state, were again on the pursuit of me; and inasmuch as they pursue me without cause, and have not the least shadow or coloring of justice or right on their side, in the getting up of their prosecutions against me: and inasmuch as their pretensions are all founded in falsehood, of the blackest die, I have thought it expedient, and wisdom in me to leave the place for a short season, for my own safety and the safety of this people. I would say to all those with whom I have business, that I have left my affairs with agents and clerks, who will transact all business in a prompt and proper manner; and will see that all my debts are cancelled in due time, by turning out property, or otherwise as the case may require, or as the circumstances may admit of. When I learn that the storm is fully blown over, then I will return to you again.

And as for the perils which I am called to pass through, they seem but a small thing to me, as the envy and wrath of man have been my common lot all the days of my life; and for what cause, it seems mysterious, unless I was ordained from before the foundation of the world, for some good end, or bad as you may choose to call it. Judge ye for yourselves. God knoweth all these things, whether it be good or bad. But nevertheless, deep water is what I am wont to swim in: it all has become a second nature to me. And I feel like Paul, to glory in tribulation, for this day has the God of my fathers delivered me out of them all, and will deliver me from henceforth; for behold and lo, I shall triumph over all my enemies, for the Lord God hath spoken it.

[N. Y. Morning Post.

We have been led into these remarks after perus

with a fervid enthusiasm in contemplating the character and labors of the good apostle. She opens her panegyric-which differs from most panegyrics, inasmuch as it strictly true-in the following just and flattering manner:

POPULATION OF THE UNITED STATES. In a notice of the United States Almanac, written by Mr. S. C. Walker, for the last number of the "Among the philanthropists whose successful zeal Franklin Institute Journal, we find the formula pre- has shed lasting lustre on the dark history of human pared by Mr. W. for calculating the population of imperfection, the subject of the present brief methe United States at any period. The censuses for moir has pre-eminently distinguished himself by the years 1790, 1800, 1810, 1820, 1830, and 1840, achieving the moral reformation of a people. He are of course the basis of the estimate as they show has enjoyed the peculiar and almost providential the ratio of increase for five successive periods of privilege of benefitting mankind by teaching them to ten years. The average increase for each period is benefit themselves. Unaided and alone this extraascertained to be 34 15-100. According to Mr. W.'s ordinary man has, by his individual effors, subdued calculation, we have the following as the population the hydra of intoxication, having enrolled six milfor the decades, from 1750, to the close of the pre-lions of intelligent and responsible beings under the sent century, inclusive: standard of temperance. By Census.

Date.

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Let all the saints rejoice, therefore, and be exceeding glad, for Israel's God is their God; and he will mete out a just recompense of reward upon the heads of all your oppressors.

1800

1810

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And again, verily thus saith the Lord, let the work of my temple, and all the works which I have appointed unto you, be continued on and not cease: and let your diligence, and your perseverance, and patience, and your works he reboubled; and you shall in no wise lose your reward saith the Lord of Hosts."

The same paper publishes also the account of the resurrection of the daughter of Elder Rigdon from among the dead, and her revelations from the other world, among which was that "the Lord had taken away one of the eye teeth of Geo. W. Robinson, and unless he repented he would take away another," and concerning Dr. Bennett, "that he was a wicked mau

and that the Lord would tread him under his feet."

MISCELLANEOUS.

1890
1900

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53,200,000

71,000,000

97,000,000

mate for two or three censuses to come.

"Nearly three years have now elapsed since the apostle of temperance first raised his eloquent voice against the besetting sin of his country. Respectably born and well connected, being collaterally descended from a member of the noble Landaff family, the reverend Theobald Mathew is still in the full vigor of life, being about forty-two years of age.

He took orders as a Carmelite Friar in his native town of Cork, which is daily bearing testimony of the zealous regard he evinces towards its improvement. A beautiful chapel has been raised at his expense, add a vast cemetery been opened in the envi rons, entirely under the superiutendence and at the cost of Father Mathew.

In person this truly great and good man is wellfavored, being of middle height, with a peculiarly It is worthy of remark that the population, acmild demeanor, which at once impresses the beholdcording to the censuses, and according to the formu- His eyes are hazel, beaming with benevolent intellier with the conviction of his sincerity and truth. ia at the five periods when the census was taken, is gence; his features are regular, his complexion dark, comparatively very trilling, and it is truly remarked while the firm and defined contour of his mouth by Mr. W. that a formula which, reckoning back- shows that the energy and perseverance are essenwards from 1840 to 1790, represents the population tial elements in the formation of his character. of the U. States with a maximum error of 38,000, Scrupulously neat in externals, it is evident that he and with a sum of errors of only 95,000 in an ag- does not disdain the elegancies of life, and his courgregate of 56,000,000, must afford a plausible esti- teous deportment to all classes is of that pure and gested that the excess by the formula in the year cept when speaking the words of his Divine Master It is sug- evangelical nature which 'vaunteth not itself.' Ex1800, and the deficit in 1810, as compared with the he is always and ever the humble Friar, vowed to actual census, may have been caused by the greater abstinence and forbearance; but this humility is immigration to the United States during the troubles sanctified, dignified, and glorified by the great and in Europe and the West Indies, and the return of the noble work so successfully achieved.” He was comptroller general of the state of Penn-immigrants when those troubles ceased. sylvania, from 1782 to 1796, and in some way used the public funds to carry on his speculations. Of the extent of his landed possessions, some conception may be formed from the fact, that his brother, Samuel Nicholson, after a very laborious investigation, reported to the government in 1816, that the lands to which he had an indisputable title, covered one-seventh of the surface of the state. In a letter to an intimate friend, he mentioned a transfer in a ingle operation, of between one and two millions of acres in Georgia.

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celebrated convention, called the "Zollverein," or
union of customs, the net revenue of which was to
be divided among the several states, strictly in pro-
portion to the numbers of their respective population.
The Thuringian and other states which had not
previously joined, except Baden, Nassau and Frank-
fort, signed a convention of union with Prussia and
the others on the 11th of May, 1833; Nassau and
Baden joined on the 12th of May, 1835, and Frank-
fort united with it in the following year. In 1841,
Brunswick and Lippe Schaumberg entered the league
and Luxemburg joined in January, 1842.

The terms of this union may be stated in a few
words. A tariff was fixed upon, at which goods
brought within the common barrier which enclosed
these states should be taxed. Upon the payment of
the duties imposed by this tariff at any part of the
barrier, the goods were to be permitted to circulate,
without further let or charge, throughout all parts of
the states lying within the common border.
A common standard of value was agreed upon, by
which all money transactions were to be regulated;
and at the end of the year the net proceeds received

THE GERMAN ZOLLVEREIN, OR CUS at the common barrier were to be divided between

TOMS UNION.

From the Boston Advertiser.

Although we hear often, in general terms, of this important union between the greater part of the states of Germany, and its leading objects may be generally understood, few persons among us we be lieve have much knowledge of its particular provisions, and its mode of operation. We are not acquainted with any publication in this country, which has given a satisfactory explanation of its character, or its results. Mr. Macgregor has lately laid before the British public an explanation of the character, and the practical operation of this union. The motives which led to it were similar to those which led to the formation of the constitution of the United States, and its effects upon trade and industry, in the German states, have been almost equal to those of the establishment of the federal constitution on the prosperity of this country. We have not seen Mr. Macgregor's publication entire, but we have met with some of the principal contents of it, in some of the London journals, from which we derive the following abridged statements:

It is hardly worth while to go into the origin of the German Commercial League; it is sufficient to say, that it arose from the peculiar circumstances in which the smaller states of Germany found themselves placed with regard to their commerce and manufacturing interests.

The political situation of Prussia led her to take advantage of the feelings of the rulers and people of the smaller states, for the purpose of erecting the whole of the lesser powers of Germany into one national confederation, having one common and mutual bond of interest; and the result has been the Ger

manic Union of Customs.

the states which composed the union, according to
their respective population.

The proportions payable in respect of each state
may be seen at once from the account of the revenue
collected by the union for the year 1841. By this it
will be observed that the distribution was as follows:
Amount of Share of net
Inhabitants. duty raised. receipts.
£

States.

Prussia,
Bavaria,
Saxony,
Wurtemburg,
Baden,
Hasse Cassel,
Hesse Darmstadt,
Thuringia,
Nassau,
Frankfort,

the article, would constitute an unjust and unequa proportion between the value of commodities.

This, however, is the system upon which the duties payable in respect of foreign importations are to be levied according to the terms of the union; and requires only a few facts to show the extreme injustice of this method of exacting duties, and that a continuation of impost so levied will, in point of fact, work the complete exclusion of English low.priced manufactures, as well cotton as woollen.

As regards cotton goods, we insert the two following tables, which will completely explain the difficulty which the English shipper has to meet in the ports. of the German Union, and by which it will appear that, although in fine goods the duty may not appear exorbitant, yet that in those of a more common description the effect of taking it by weight is in fact to impose a duty of from 90 to 118 per cent. on the value of such articles.

The first of the tables here referred to, shows the amount of duty, as ascertained at the fairs, on certain quantities of various descriptions of goods imported into Germany from England, which are rated by the centners or 100 lbs. The price as well as weight of each parcel of goods is given with the amount of duty, which is charged at 50 thalers, or 7 10s. per centner on cotton goods, and 30 thalers, or £4 109. on woolleen goods. The duty thus charged amounts to a rate ad valorem on cotton goods varying from 38 to 118 per cent. and woolens from 22 to 33 per cent.

MISCELLANEOUS COTTON GOODS.

15,159,031 14,701,855 10,925,229
4,375,586 1,681,171 3,158,621 Velveteens cost
1,706,276 1,878,176 1,229,727 Velvets
1,703,258 474,448 1,291,234 Plain cantoons
1,294,131 846,364 936,847 Fancy dɔ.
480,193 Nankeens
637 415 Cotton drills
686,418 Prints
288.682 Shirtings

666,280

820,907

408,673
515,444

952,421

348,212

303,095 35,141

66,338 1,026,460 1,026,498 Cambrics

The political effect of this union has been to create a perfect fusion of all small and conflicting interests into one grand confederation, having one common interest By it Prussia has nationalized into one great union northern and south western Germany; she has acquired the friendly disposition of an intelligent moral population; and by making the petty sovereignties chiefly dependent for their future revenues on the permanence of the union, she has rendered their fidelity to her in peace and war the future condition on which they can exist as sovereigns.

It is, indeed, evident that the spirit and object of this confederation have been to unite and strengthen Germany as one great nation, by throwing down those barricades of material warfare, and of international intercourse, as also the numerous lines of customs and customs' officers, which previously belted every large and petty state in Germany, the removal of which has laid open an uninterrupted intercourse Mr. Macgregor, in speaking on this subject, says: from the frontiers of France and Belgium to those of "This commercial union is, in fact, purely German- Austria and Russia, and from the Alps to the Baltic. ic. The inconvenience of numerous customs barri- But it is not less in its political than in its comers formed not only impediments of the greatest in- mercial features that the German union has become jury to the national commerce and manufacturing a subject of interest to this country. By opening to interests of the several states, but the expense of the subjects of its component states a free intermaintaining a multitude of guards to prevent smug- course with each other, an intercourse which before gling, and to secure the taxes levied upon commodi- that time had been vexed and restricted by numeties, was enormous in proportion to the revenue col-rous petty annoyances and fiscal objections, it lected, while the moral effect was, at the same time, created for German manufacturers a market of exceedingly pernicious. some 27,000,000 consumers who had before that time been chiefly supplied by the foreigner, and it gave an impetus to national industry, which from small beginnings has increased, until it has become a formidable rival to the trade of this country, and which in many instances it has succeeded in supplanting completely.

"The maintaining numerous lines or circles of customs necessary to secure any revenue from commodities entering or passing through the several small states of Germany was attended with such grievous inconvenience and expense, that in 1826 Saxe Weimar Eisenach, Saxe Coburg, Saxe Gotha, Saxe Meiningen, Saxe Altenburg, Schwartzburg Sonder- This has not been effected by any extraordinary bausen, Saxe Rudolstadt, Anhalt Dessau, Reuss protective duties, or heavy imposts upon foreign proSchleitz, Reuss Greitz, Reuss Lobenstein Ebersdorf, duction, as will be apparent from an inspection of with a total population of 894,778, entered into an the rates which were in use both in Prussia and other union, for a general line of custom barriers to sur- countries in Germany before the date of the German round their extreme frontier; and, after deducting commercial union, at which time the tariff upon imthe whole expense of collection, to divide the net re- ported articles was in many instances higher than the venue arising from the duties thus collected on the rates now charged by the Zollverein, but by the meimportation or transit of foreign commodities among thod by which the duties are ascertained and charged, the several states, in proportion to the respective and this has been felt by the English producer to have population of each." been a most serious grievance. Upon the discussion This first union, which Prussia did not certainly of the principle of the Prussian tariff upon its first originate, was called, "Der Mittel Verein," and in commencement, the Prussian authorities stated, that April, 1827 and 1823, Bavaria and Wurtemberg join- the duties to be levied in respect to the new tariff ed in a union of customs, with the view of not ad- would not be materially heavier than those which mitting any except the small states enclosed, or part- had usually been paid by the importer theretofore, ly enclosed within those kingdoms, into the associa- that no foreign commodity would be excluded, and that the duty to be levied upon such articles would Eventually, the kingdoms of Prussia, Bavaria, not much exceed 10 per cent. ad valorem; but it did Wurtemberg and Saxony, with Hesse Darmstadt and not at that time seem to be felt that the imposition of Hesse Cassel, signed, on the 22d of March, 1833, the the duty by weight, without regard to the value of

tion.

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Long cloths 12 0 to18 0
11 6 to 16 0
50 to 70
4 0 to 5 0
Sarcenets
These rates of duty, Mr. Macgregor observes-
"are not to be defended; they are unjust, as not bear-
ing a relative proportion to the value of the articles
upon which the duties are imposed." They levy the
same duties on 100 lbs. of coarse unbleached cali-
coes as upon the same weight of the finest sheetings
and cambrics, and on 100 lbs. of the coarsest woollen
flannels, and blankets, as on an equal weight of the
finest kerseymeres and broadcloths; the duties on wo-
ven goods, instead of being as promulgated publicly
at from 10 to 15 per cent. on the value, range from
10 to 95 per cent. on the value. "There is, however,"
continues Mr. Macgregor, "one great virtue in levy-
ing the duties as rated in the Prussian tariff by
weight--that is, the discouragement to smuggling,
from the circumstances that the more valuable and
light the article is, the duty becomes so low in pro-
portion, that there is not sufficient temptation to en-
counter the risk and penalties of contraband trade."
As far as collecting the revenue in question, no me-
thod can be less objectionable than levying the duties
according to weight; but in regard to the applica-
tion of this rule to an equitable tax upon goods in
any way manufactured, no principle can be more fal-
lacious.

This system, however, has, to a certain extent, prospered in Germany. It has created and fostered the national manufactures, and has raised the Germanie

League into a mercantile and manufacturing power of first rate importance.

By means of the heavy duties upon foreign cheap goods, enormous, as compared with their value, it has acted as a bounty to the native manufacturer, and has enabled him in his own market to compete successfully with the English merchant. has done more-it has stimulated the national industry till it has increased to an extent utterly astonishing.

It

In the mere article of raw cotton only the consumption has nearly doubled in four years, the relative importation of that article having been in the year 1836, 187,858 centners, and, in the year 1840, 328.950. In cotton twist the importation was, in 1836, 307,867 centners; in 1840, it had increased to 431,216 centners. Whilst the export of manufactured cotton articles, which in 1832 did not exceed 25,884 centners, in 1836 had increased to 84,272 centners, and 4 years afterwards it amounted to 97,768 centners.

The same increase of business is also to be observed in the German woollen trade. We see that in 1832 the import of raw wool was 99,441 centners; of yarn, 2,236 centners; and of manufactured woollens, 14,798 centners. In the same year the exports were

62 733 centners.

-raw wool, 99 637 centners; yarn, 717 centners; and We left Queah at 12 o'clock, and travelled north-
manufactures, 48,773. In 1836 the amount of the ward until 5 o'clock, at which time we reached Jarg-
raw and half manufactured article of yarn imported bargway's town on the west bank of the Junk river,
had increased to 112,787 raw, and 3,798 yarn; but in the Goulah country. This old gentleman soon
their import of manufactures had decreased to 12 287 found that we were "God men," and had come to
centners. The exports for that year were-raw wool, bring God-palaver" to his country; for which cause
178,171 centners; yarn, 2,404 centners; but of manu- he immediately "dashed" us with a fine chicken, and
factured articles, 70,461 centners. In the year 1840
the imports had still further increased, raw wool,
164,021 centners; yarn, 5,917; and manufactures,
26,298. The same year the exports were-raw wool,
149 084; yarn, 3,389 centners; and manufactures,
The same increase of business in the export of
manufactured articles and diminution of imports of
the same is observable in the linen trade. In fact it
cannot be denied that the manufactures of Germany
have increased most rapidly, and that the cheapness
of many of her productions is hourly bringing her in
competition with the merchants of this country.
the effect of the German union would be to exclude
But although it has been generally considered that
all foreign manufactures from that country, yet the
effect has not proved to justify such predictions. As
regards Great Britain we see that the imports for
consumption of our cotton manufactures have been
nearly stationary, and that the general imports of

other manufactured articles have increased.

The tables inserted in this report show us that the consumption of British manufactured articles has increased both in Germany and in Holland and Belgium, through which latter countries considerable quantities of British manufactures pass in their transit to Germany. Thus we see that there were exported to Germany, Holland, and Belgium, during the following years the following quantities of goods

in value: Years.

1831

1834

1838

1840

Germany.

3,835,768
4,683,589

Holland. Belgium.

£
2 082,536

2,470,267
3,549,487

750,059 1,068,010 880,286

This old gentleman is about 90 years old, but very smart, and far the most intelligent of any native whom I ever knew, The news went out, and by sunset, the people, old acquaintance and brethren, were gathering in from all directions.

King Yardoo told Simon Peter that he wished to

hear the "palaver" that afternoon, that he might gave us his best house for our baggage and lodging, "think his head good" over night. Simon told him so that I slept sweetly, on a splendid clay bed, as that I was an American God man and would talk hard as a granite rock. But we were all too weary the palaver on the Sabbath. The old man now beto give them any palaver, except to attend prayers. The next morning we got under way at 6 o'clock, came extremely uneasy and anxious. So about 8 and after travelling two hours, we arrived at Capt. o'clock, P. M., he called Simon Nicholls, and Capt. Sam's town. Capt. Sam is a Rio Nunez man, born Sam, and engaged them to prevail on me, if possible, at Sierra Leone, and speaks tolerably good English. to tell him palaver, that he might think his head The Goulah and Pessah kings have stationed him good before morning. So I consented, and told him there to keep the path, as they call it; and I found all my palaver. The old man listened with the on inquiry, that it was necessary to take that man deepest interest, even with tears in his eyes. And along with me. He went, and did us much good thank God. Then said he, man can make anything as soon as he had got the palaver, he exclaimed, that place before I left for America, taking their down in the morning, and worked all day long makwho were converted at Heddington, and who left but this life; and that, God made. And now said he, I will tell you how God made man. First he came certificates of membership with them. It was now truly interesting to see the care which they had ta- ing white men in America, and gave them a plenty ken of those letters, and the confidence with which about midnight, and made we countrymen all black, of good sense. Then he came along in the dark, they presented them to me. Daddy," said they, and because he wanted to get home before breakfast, "these letters have made us remember God every he never waited to give us any sense at all, but told day since we left Heddington." and pepper, and that is all. us to make war, raise rice and cassada, eat damboy

too. In this town we found several of our brethren

We left this town at 12 o'clock and travelled north until 5 o'clock P. M., at which time we came to Miner's Town.

But said he, I have been telling my people a long Miner is a Mandingo man, generally known in the time that God would get up soon and give us senso colony. His town is on the conjunction of the two like Americans. And said he, this is that thing, great paths to the Goulah and Pessah countries. one, which I have dreamed and thought of a long This man very kindly received us, and gave us a trict time. And putting his hand to his grey head, he exto lodge in, "dashed" us with chickens, rice and claimed, O! my head, iny head, I done look him now, palm oil, and very earnestly entreated us to estabish a mission in his town.

&c. &c.

The next morning we all went home with Yardoo, The next morning at 6 o'clock we got under way, west, and then on the bank of the St. Paul's river to settle the palaver. We went about three miles and went north until 9 o'clock, when to our high gra- southwest, about twelve miles, we found Yardoo's tification, we entered old King Peter's town. This same King Feter was converted with King Banjo in town and a strong barricade around it. We passed the colony two years since, at "Bangs Hill," but now through five towns that day, all of which were nearAnd of British woven cotton goods exported to they are both dead, and I trust they are both in healy as large as the barricaded town. Three kings, Germany the amount was as follows: In this town I spent the most delightful three eight headmen, and several old men spent the afterhours that heaven ever granted me. noon and evening among themselves in council.

Years.

1831 1834 1838

5 144.123
5,627,944 3,418,190

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indescribable; more than the joy of harvest. At first, about twenty of those living converts broke into tears of joy-wept aloud-fell on the groundThe decrease observable in cotton goods has chief- rolled to our feet-arose, literally bathed our boly been in printed cotton, especially in reds, in which soms with their tears, and cried out, "Daddy has the dyers and printers of Germany and Switzerland ed five days before the battle at Heddington, and come, daddy has come. The people were convertexcel those of all other countries. Indeed, it is probable that British printed goods will shortly cease to King Peter led them into this wilderness, a few weeks before I left for America, that he might inbe used in any of the Zollverein states. troduce the Gospel to his tribe, the Goulah nation.

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The next morning about sunrise, the three kings, Yardoo, Ballasadah, and Jago, came into my fine palace, and told us they were ready to deliver their palaver, and I said, say on. Then said king Yardoo, am the first kind of the whole Goulah nation. And comes up, all the other kings come together and talk I can do what I like. But when any big palaver it, and then I do as I please about it. Then said he, your God-palaver is bigger than all palavers that ever come to my country; and I want it to spread all over my people. Your palaver is national, and to talk it, which I will do immediately. And I know, our law requires that I call a majority of our kings said he, that no king can say no. But if all say no,

I

King Peter was deeply pious from the day of his ing, for the spread of the Gospel, and preached conversion. He prayed devoutly, and without ceasChrist until his last expiring breath. I was informed by his people, that at the hour of his death, he have a right to give you my whole territory, becalled the little flock around him, and exhorted them cause I am first king. And this one thing I do this to continue steadfast in the Gospel, and to do all morning. Go on yonder hill, said he, and all the they could to spread its glorious benefits. He told country you can see on this side of St. Paul's river them that "Jesus was waiting for him, and that he is mine, and three days walk beyond sight. All this 1831 20,454,890 1,197,274 63,821,440 3,975 619 must go now," &c. He then commended his people country is yours. All those people, 50,000, are 1832 29,975,663 1,798,998 75,667,130 4,172,759 to the spiritual care of brother Bow, until Brown yours for God-side. Talk your God-palaver where 1833 23,674 911 1,600,159 70 626 161 4,704.024 returned from America. He then bid them farewell, you like, pray where you like. Build your house 1834 26,517,232 1,795,475 76,478,468 5,211,015 and died without a struggle, or a groan. King Pe- where you like. You have no need to buy land, 1835 27,882,766 1,748,321 83,214 198 5,706,589 ter has been dead about eight months, and ever since make your farm where you like. Now, said he, that time brother Bow has called them together you cannot go to any body else to set down there, 1835 31,339,228 1,961,502 88,191,046 6,420,366 1837 34,277.531 2,178,325 103,455,138 6,955 942 night and morning for prayers-held class meetings for I have done all you asked me. And I have five 1833 35,539 116 2,265,602 114,596.602 7,431,869 and prayer meetings, and exhorted them on Sabbath men at hand, whom I shall send to carry you and 1839 38,712.355 2,361,506 105,686,442 6,858,198 days. your baggage, for you must not walk that long bush 1840 41,765,508 2 451,299 118,470,223 7,101,308 along; but my men are strong and they must carry A portion of the above cotton twist finds its way you all the way. And here, said he, are five boys into Bohemia from Leipsic. whom I give you for God-side, that you may know that I am not playing in this palaver. Take those boys home with you, and when the rainy season is over, come here and bring all your boys, your wife, and a plenty of God people, and I will give you 200 boys and girls if you want them for book-side. The old man addressed us like a preacher for about one hour. He then dashed us with a noble fat sheep, a kroo of rice, chickens and palm oil, for our breakfast. But I was shaking with chill and fever. So he took hold of my foot, and I of his, we then shook hands, and I left him in tears.

MISSIONARY.

VISIT TO THE GOULAH COUNTRY. Rev. Geo. S. Brown, Methodist missionary, gives a very interesting account of a visit which he made to the Goulah country, about 100 miles N. E. from Monrovia. We subjoin a part of it:

But we were bent on gaining a certain point, as this was on Saturday; and at 12 o'clock, we left that place, and went northwest until 43 o'clock, at which time we entered King Ballasadah's town, to which we had been aiming. Ballasadah is a war king! and of high respectability among his people, and all the Goulah nation. But he received us with both arms, and many greetings. He immediately prepared the best house in the town for us, and soon gave us up his whole town to dispose of as we chose. But Ballasadah would not sit down until I had told him There is not a single inhabitant living between wherefore I had come, and as soon as I had informRobertsville (a frontier settlement in the colony) ed him that I had come to bring the "God-palaver" and Queah except the hosts of wild beasts. Proba- to all his tribe, the great warriors were up on tiptoe. bly this distance is about 50 miles. But there are to So after he had trained about town a while, he came be seen nearly all the way, the marks and remains and sat down, and we made our arrangements to of old towns, which I was informed, were inhabited call as many kings and head-men together as we 25 years ago; but have since been destroyed and swept off by the Boson warriors. The graves of some of their officers. who fell in battle with the Queahs, are still visible, partly in shape of the graves of civilized people, and all paved over with small stones about as large as a man's fist.

Queah is a neat little town, of about 40 houses, but the people are indolent, poor and ignorant.

could, on Monday, to see if they were willing to
have the God-palaver" brought into their country.
On Sabbath morning, Ballasadah arose at day-
break,-left town, and went to see and tell the first
king of the Noulah nation.

At 2 o'clock, P. M., this old king, Yardoo, came
into town, and two head-men with him. But I was
down with chill and fever.

We left Yardoo's at half past 10 o'clock, and a train of natives, probably half a mile long, followed us from town to town until we came to Ballasadah's. O how I might have fatted on boiled alligator's eggs if I could have eaten them, for they gave them to us in every town. In every town they had their muskets prepared to give us a salute, and would have burned barrels of powder, but Ballasadah told them I was a God-man, and they must pray rather than fire guns; but they would dance in spite of the king. So in consequence of the people thronging the path

to shake hands, and my weakness under a scorching | fever, we did not reach Ballasadah's until 5 o'clock, P. M.

GEO. S. BROWN.

THE AFRICAN SLAVE TRADE.

The fact that the principal part of the slave trade carried on up to the present period, has been carried on through means afforded by, and for the benefit of British capitalists, was clearly substantiated by Lord Brougham, in an able speech delivered in the house of lords on the 2d of Aug last. Alluding to this subject the correspondent of the National Intelligencer says, his lordship "submitted a motion respecting the slave trade, and denounced, with an elaborate glow of benevolence and highly wrought rhetoric, the continued employment of British capital in that trade and in the mines of Cuba and Brazil. He shuddered his heart bled-as he touched on the sufferings of the blacks; on the violation of innate rights, morals, and decency; on the hypocrisy of those British subjects who lent their capital to piracy, barbarity and murder, while they pretended in many cases, to be the staunchest devotees of the religion and charity and peace. Admit this extract from the full report of his speech:

THE SLAVE TRADE. Captain Borden of the whale ship Sally Ann, arrived at New Bedford on Saturday, from St. Helena, has furnished the editor of the Mercury with a list, carefully compiled by a friend at that place, of the slave vessels and number of slaves captured by H. B. M. vessels of war on the west coast of Africa, and taken to the island of St. Helena for adjudication, and condemned at that place during the period from July 3, 1840, to May 6, 1842. It cannot but excite surprise and indignation among our readers in learning the great extent to which this nefarious practice

still carried on. The

"He should now take the case of mining compa- "Mr. LABOUCHERE thought that the house had no nies. These were chiefly carried on by British capi- business to interfere in such questions as the present. tal, and by some who traded in the city of London it-It was a subject for the consideration of the govern I do hope that you will redeem my pledge, by self. He understood that, at a meeting of one of ments of different countries." You will see, by my series of extracts from the sending one missionary to king Peter's people, and those companies, it was distinctly stated that the call another to Capt. Sam's, as soon as may be. Pray must be increased on the gound of increased expense parliamentary debates. that a kind of beginning has ye the lord of the harvest to send more laborers.in a portion of the mines. By the accounts of this been made in the British parliament towards the society a sum of £5 000 appeared to be expended for abolition or modification of slavery in that empire. Affectionately yours, the purchase of slaves in one year-sixty-three being Caldwell, May 2, 1842. bought one year, seventy-two another, and seventythree a third. Many honorable and honest individuals were engaged in this speculation. With them he would remonstrate, and in a friendly tone; and he devoutly hoped. he had almost said expected, that now that their eyes were opened to the nature of the speculation, they would not thus bestow that wealth with which Providence had blessed them for far different purposes. But it might be said that these slaves were not imported, and, according to the construction of the treaty with Brazil, it was contended that native slaves might still be purchased. No person in that country could doubt, on seeing and hear-list before us includes thirty-two vessels, having on ing them speak, whether they were negroes or cre- board at the time of their capture no less than five oles. Besides a native creole would cost £120, thousand one hundrd and thirty-nine slaves. Of these, whereas the poor negroes were purchased for less 1,736 have died; 1,332 have been conveyed to the than half. Let him see a man who purchased a jew-Cape of Good Hope, 542 to Demarara, 120 to Jael at half its value, and he should have his suspicions maica, 201 to Trinidad, 198 have been apprenticed as to his honesty; but let him know that the purchase at St. Helena, and 1,010 remain to be sent, in acwas made by a suspicious character, and he desired cordance with their own choice, to the British Coloto know nothing further. He put the one down as a nies. Of the thirty-four slaves 28 were captured receiver of stolen goods, and the other as a thief. under Portuguese colors, 2 Brazilian, 1 Monte Video There were, in fact, very few creole negroes to be and 3 English. Among the latter, is the brig Cypher, had in the labor markets fit for work; those who formerly of Salem, Mass. were exposed for sale were generally slaves parted The number of vessels successfally engaged in the with for some mental or bodily defect; and in the great traffic in slaves must be, of course, far greater than majority of cases, blanks in the plantations and mines the number of captures. The unfortunate Africans were supplied by newly imported negroes. Let who thus fall into the hands of these inhuman monthem now for a moment consider in what position sters, are found crowded together in a most deplorable those rich men were placing themselves-those who condition. Such of them as have the good fortune to chose to foster and to encourage the slave trade, as be re-captured are landed at St. Helena, where they past all doubt they really did. by promoting a traffic are placed in suitable depots provided for their relike this. Their agents on the spot were, perhaps, ception by the Buitish Government, and humanely more guilty than they. Those agents saw more of provided for; or in case of disease existing among them the trade; they might have a more specific knowl- those infected are placed on board of a roomy vessel edge of it; but still they it was who really and in lying at anchor at the leeward of the principal aneffect purchased the negroes; they it was who put the chorage, and placed under proper medical treatment. whole traffic in operation. Some of the agents he Those who may choose to go to service as laborers had alluded to were men bearing her majesty's com- on the island, are permitted to do so for a term of mission; half-pay officers, indeed, but still they bore from three to seven years, under the approbation of her majesty's commission; and some of those persons the collector of the customs, with all the rights and had been heard to declare that they bought and per-immunities of British subjects. The Mercury's corferred buying new negroes.” respondent says:

No doubt Great Britain

"He would proceed to demonstrate his case, not by bringing vague and unsubstantial accusations; he would show their lordships-and he thought he need not detain them long in doing so that by the aid of British speculation, by the accession of British agents and through the employment of British capital, it was that the slave trade, where it still existed, was perpetrated in foreign countries. He would go at once to what proved from whence the capital came by which the trade was carried on. Their lordships knew that in Cuba-he said their lordships knew it because it appeared by the papers presented to parliament by the crown, and by the correspondence which had passed between the minister of the crown and the commissioners employed abroad-their lordships had the means of knowing, and, probably did know, that in Cuba-he would at present confine himself to Cuba and the Brazils, which were the great wrong-doers in this matter-there had been The Duke of WELLINGTON, who followed Lord "These captures are made and the negroes declarrecently a great increase in produce-an increase so BROUGHAM, did not deny the statements of evil; but ed free, in virtue of a late order in council of her great and in so short a time as, in itself, proved his grace remarked that, "after having attended most Britannic majesty. But it must be very questionable whence the means of augmentation had been derived. The produce of Cuba had increased between 1829 patiently and anxiously to the speech which they had whether the present mode of disposing of these peoand 1836 more than twofold, namely, from 164,000 Just heard, he could not discover in it any thing like ple is a strictly just one. hhds. 370,000 hhds. of sugar. According to the offi-a road to measures which would have the effect of means well. Would it not be a more consistent cial enumeration, it appeared that the increase in the putting an end to the enormities it described." The plan to restore these poor wretches to their own nanumber of slaves between 1827 and 1831 was 32,000 Duke added that if his lordship would bring a suit-tive homes, to burn the vessels they are found in. able measure it should be taken into consideration at then to put on shore in Africa those piratical villains annually, besides 9,000 who were required to fill up an early period at the next session of parliament.who would thus entrap and enslave them? Hence blanks occasioned by the number of deaths exceeding that of births-making, on the whole during four Lord BROUGHAM suggested that the most effectual would the liberated African in name, be liberated in years, 123,000 slaves, at least, imported into Cuba. course would be a declaratory act of the true intent reality-a just retribution would fall on the head of of an antecedent penal act ambiguous in its terms. his enemies, who would now in turn be in the negro's In the course of two years the return which he held The Earl of RIPON justly doubted that the offending power, and Great Britain would be saved the enor in his hand showed that 142 vessels imported 52,000 parties could be reached; he who had, "great expevery low estimate indeed of those who were the vic-rience in the tortuosities of the subject," would ap tims of this traffic when he stated that the yearly Ply his mind seriously to the difficult task of framing importation into Cuba was 50,600. The price of an adequate act. Lord BROUGHAM withdrew his mothose slaves had increased from £60 to £85 a head, tion; next session he will provide himself with an opportunity of delivering another philanthropic orawhich would give £4,000.000 a year, while the whole tion. Meanwhile he trusts that, after what passed export of articles from Cuba during the same time in the house, no new transactions in connexion with amounted to £3,000,000. If they went to the Brazils, the slave trade, no new speculations, will receive any they found the same state of things. In Rio, in the countenance or protection from the British public!" three years ending 1839, 244 vessels brought 139,000 On the same day, in the commons, Lord PALMERslaves, the annual importation being on the same basis STON had to defend the conclusion of a treaty with as that which he applied to Cuba, 70,000 a year. Texas against complaints of Mr. O'CONNELL, who The cost was £80 for each, as shown in the work of impugned the Texian laws respecting free people of a most efficient public servant, Mr. Bandinel, which would give on the importation of 80,000 slaves £5,500,000 as the yearly expensc. and £17,000,000 as the expense in no longer a space than three years. It was needless to ask whether Cuba or Brazil could furnish three millions of money. It was utterly impossible. It was perfectly certain that the means were furnished, and looking round at the countries "Lord PALMERSTON said that the Texian governthat were likely to supply it, he must needs come to ment had already secured the recognition of their inthe conclusion (a painful one he must confess) that dependence by treaties with the United States of from this country alone could such ample funds have America, with France, and the Netherlands, and the been forwarded for carrying on this traffic. He did question came to this, whether the commerce benot mean to rest on the general presumption which tween England and Texas should be placed on the those conversant with the general facts connected same footing as the commerce between Texas and with the question must arrive at. He meant to other countries, or whether we should be exposed to show, by special circumstances. that there was no disadvantages to which other States were not subescaping from the conclusion he has stated."

slaves, and all accounts agree in this, that he took a

In fact he substantiated his allegations by particular and indisputable instances enormous to the last "degree, and proceeded thus:

color.

"Lord PALMERSTON said he believed the laws in Texas were precisely the same as the laws in the States of the United States.

"Mr. O'CONNELL said it was only in the State of Carolina that the law existed.

ject.

"Mr. C. BULLER said that he did not think it would be proper to require of a state to alter its internal laws on entering into a treaty with another country.

mous expense of thus maintaining them. At present the captains, officers and crews, are permitted to go at large, and until they can find ships to take them from St. Helena, are allowed by government 84 cts. each per diem."

We publish (says the Philadelphia United States Gazette) an extract from a New Bedford paper, containing an account of vessels seized as connected with the slave trade. It is a most appalling account; but what is remarkable is that of the thirty-four captured, twenty-eight were the Portuguese flag, two Brazilian, and three English. Now, Portagal is almost a colony of Great Britain, and while the latter is making treaties to include the United States, and arguing from frequency of the American flag being used in the traffic, we fine more than four-sevenths of the captured vessels belonging to this protege, of Great Britain. We rejoice that of all thus mentioned not one disgraced the stars and stripes of our country.

LETTER FROM GEN. HAMILTON.
London, September 9th, 1842.

To the hon. John C. Calhoun:

MY DEAR SIR: If I have addressed this letter to

you, it is not alone from the justification which I find in the recollections of an old and cherished friendship, but from the fact that I desire to attract the public attention to its object, through the instrumentality of a name far more influential than my own. Be not surprised, if you see it first in the newspapers. I wish not only "to think aloud," but speak aloud.

My purpose in writing you, is to put you in pos- we begin to be regarded as a nation of sharpers and try, and hence by a habit which we derived from the session of a knowledge of the condition of the Ame-swiddlers, with whom, if the day of judgment should buried "warlike and the wise" who have made us rican credit in Europe, with a suggestion of the happen to be Monday, our pay day will not be until what we are, we pay our state taxes with almost as indis ensable necessity of our doing something at the Tuesday following. This revulsion of confidence much alacrity as we give money to our wives and home to meet the truly alarming crisis, which this does not arise so much from a diseredit, which attach-children. If the defaulting states would only pracstate of things presents. es to our resources, or, in other words, our ability to tice on this doctrine, the smallest imposition would I am far from defending the profuse confidence, Pay, 3 our seeming indisposition to pay. The former produce an amount abundantly sufficient to resusciis still considered in most cases as undoubted, whilst tate their credit. with which European capitalists lent their money a sickening distrust has fallen upon the latter.during a period of six years from 1834 to 1840, to Hence it is, that whilst the rate of interest has fallen my dear sir, that your influence throughout the union Occupying the position you do, I sincerely hope, our countrymen, even on the faith of a variety of this day to two and a half per cent in the London will be brought to bear on this great national quesschemes, exceedingly visionary and unsound. They did this, however, out of the excess of a virtue market, it is not probable that if the commissioners of tion. We all know that our countrymen are essenwhich may have been pushed to the extent of rather the United States six per cent loan, were to offer a tially honest, because they are essentially sagacious an amiable than criminal weakness; for they general-price which would secure an interest of ten per cent, as well as, in the main, right-principled, and require ly made these loans at a less rate of interest than ten pounds of the stock could be sold, without from merely a proper direction to be given to their exerconsiderations of policy, under the advice of Lord tions to make even an heroic effort to recover and they could be effected, if at all at home, and appa- Ashburton, on his return to England, the Barings sustain the character of the country. reatly for objects of great public utility. But the should be induced to take the loan. Joans to the states stand on a different footing. At least in reference to the public sanctions with which they are invested. They were made according to your reading and mine, of the constitution, to sovereigns under the obligations of a high public faith; many of them were contracted on terms greatly advantageous under the agency of houses of the first respectability, whose liberality and confidence knew no bounds.

This circulation, in the recesses of that financial

But, auxiliary to these efforts, something more reWhen we contrast this discredit of our own coun-mains to be done by yourself. It is to lend vigoroustry, teeming with such gigantic resources, with the ly the powers of your own genius, and the impulses palmy credit of other states that have little else but of your own patriotism, in your appropriate sphere, good faith, and high taxation to offer, it is impossible the senate of the U. States, to create and establish a to refer it to any other cause but a deep moral distrust sound circulating medium throughout the union, conin us-The most ignominous curse that can fall on a vertible into specie, but in sufficient abundance to epeople who aspire to be civilized and free. Of the levate the standard of value from the dreadful detruth of this fact, I cannot give you a better proof pression to which it has fallen, and in fact to be adeThis confidence was given to our young country, than that whilst no one will look to. and capitalists quate to perform the exchanges of trade and value in because our rescurces (in no degree exaggerated), turn with aversion from, the United States loan, the our country. Whether this be a Bank of the United were considered immense, and because it was thought, its population of 200,000 inhabitants to enable it to federal treasury, is not of so much comparative imcomparatively insignificant town of Hamburg, with States or an issue of a redeemable currency by the as we were of the Saxon family, we were essentially rise out of its ashes, has borrowed at 3 per cent pre-portance, as that we should have an abundant and a debt paying people. Indeed, from an observation, cisely double the amount of our proposed loan, one uniform circulation from some Source or other, which a larger residence for the last five years in Europe than in America enables me to make, it is farthing of which the U. S. commissioner will proba- which, making allowance for the variations in the quite obvious, if we had paid the interest on our fo-ply not be able to negotiate. Denmark and Belgium, balance of trade, shall be of equal value in New Orreign debt that the rate of that interest would have neither of which would be scarcely a breakfast for the leans and Boston. fallen gradually to the level of that paid by some of morning, can borrow at four per cent what they want, wisdom which is past finding out, was destroyed by hungry stomach of Brother Jonathan on a frosty the oldest and best established states in Europe, and and England and Holland, with the principal of a pub- our friend General Jackson, when he siew the bank that for objects of well founded public utility, and debt. the payment of which is likely to be contem- of the United States, with the arm of Samson, and even of private enterprise, our industry at home might have been almost indefinitely invigorated outporaneous with the discovery of perpetual motion, almost with the self same weapon, too," when we of the large surplus capital of this country. You will can borrow just what they want, at and under 3 per recollect all the twaddle of the old gentleman on this say, I am sure, that this facility of borrowing has cent. because they pay their interests, and tax them-subject. He, as Burke said, was certainly a consumselves to pay their interests. been a great curse to our own. This I admit is true to a certain extent; but it was converted into a curse by the action of our government on the currency of the United States. Under judicious regulations and prudential guards, a state of things more propitious to the development of the resources of a young country like ours, borrowing of an old one like this, its capital to invigorate its labor, at a low rate of interest, cannot well be conceived. If the profits of labor transcended the rate of interest, it was to create capital at home. From what other source have sprung those miracles of enterprise and wealth that are to be found in our country in the midst of a population of eighteen millions but this conjoint action of our labor on the capital of others. The Pilgrims found no Bank of England planted on the rock of Plymouth, or the Huegenots of South Carolina, the gems of Samarcand on its thirsty plains.

I

Hottentots, in reference to their condition, I doubt not, have been governed with a policy far more vigilant and enlightened.

mate architect of Ruin," in his time and tide, and As a statesman and patriot, I am sure, my dear sir, had the happy faculty of impersonating a corporayou will say that this state of things must not be per- tion in his mind's eye," for the purpose of hating it mitted to last. No country can continue in the worst as cordially as he once did you and Mr. Poindexter. species of insolvency, a bankruptcy in its repute, When, therefore, Mr. Biddie entered into a contest without losing that self respect which is the salient with this hero of two wars, he forgot the wisdom of spring of all that gives vigor and renown to national the Spanish proverb, "That he who sets down to character. It may be said that as a nation we are in dine with the devil should eat with a long spoon."no degree responsible for this decadence in the credit what has been the result of this feast, in broken meat of the states. This may be true to a certain extent. and empty plates you well know. It has left our Our national and political aggregation, however, if country palsied indeed-hungry in flesh and poor in may so speak, is made up of this family of states, and spirit. I doubt since the creation of the world, wheyou may depend upon it that other nations and pos- ther such an example can be exhibited as we have terity will hold the government of the union morally presented for the last sixteen years of folly and misresponsible for the character of its members, al- government. No southern planter would permit his though the forms of our federative system may dis-plantation for one hour to be governed with such a charge it from a legal liability for their engagements. lack of all sense and providence. The Caffres and Admitting the potency, and the extent of the evil, But if you consider this faculty of borrowing abroad, you will ask what is the remedy? This, my good sir, my dear, sir, as an evil, you may certainly console is precisely the question I am about to ask you, and I yourself with the conviction that it no longer exists, ask you in the form of a specific inquiry, whether A country of immense resources, in a period of proalthough I am equally convinced that you will re-public opinion, through the union, may not receive found peace, on the verge of bankruptcy! Any man gret the cause which has produced this want of all such an organization by the action of congress, po- who will read Hume's essays on "Public Credit" and confidence in the good faith of the people of the U. pular meetings and the press, as to induce the default on Money," can be at no loss to trace our present We have been suffering States, and the consequences which have followed in ing states to hold conventions this winter, comprehend- condition to its true cause. fixing so severe a stigma on the character of ouring those who have negotiated foreign loans, who ne-ever since General Jackson destroyed the bank of the country. vertheless have met punctually their dividends, that United States (with the exception of a short period united action they may induce the legislatures of of distempered inflation created by his own measures) the several indebted states to impose, and the people under a steadily diminishing circulation, which the to bear such taxes as shall provide the means of pay-eminent philosopher to whom I have referred has deing the interest, and establishing a sinking fund for clared to be one of the worst calamities that can bethe gradual extinguishment of the principal of their fall a civilized country-far more disastrous "than public debt? I cannot believe that these appeals to the continued blight of unfavorable harvests and seastate pride, and national honor would be unavailing. sons." This result has been first in the constant acYou see that I lay out of account the assumption of tion of the federal government, or their supposed the state debts by the federal government, because I meditated action on the banks of the states, which Let me now give you a brief statement of the pre-often fear, if this expectation were held out, the de- created a universal panic, that has compelled the sent condition of American credit in Europe, and faulting states would do nothing of themselves, and banks to withdraw their circulation, and next the gewithout presuming to suggest a remedy, to inquire of the exigency has not yet arisen when such an oner-neral government permitting to remain in criminal you whether the force of public opinion, (if congress ous responsibility ought to be assumed by the nation- abeyance their sovereign function to supply a curren has not the constitutional competency to do any al government, so unjust to those states who are cy equal to the wants of the country, and "to reguthing), acting through the legislatures of the default-faithfully paying their debts, and to others who have late its value." ing states, cannot be made sufficiently potent to con- perhaps been far wiser to forbear contracting any, The consequence is, that the states have nothing vince them of the truth and force of the old adage that, after all, in the long run, "honesty is the best policy."

It is absurd for us to talk in America that we do hot want the capital of Europe: at the very moment when the general government of the states has sent an agent abroad to borrow for its daily bread. We do want their money, and they want the results of our labor. And greatly then is it to be deplored that this beneficial interchange has been suspended under circumstances so disastrous to both countries.

The first branch of my subject I can discuss in a very few words. As our old friend Randolph used to say, American credit is killed "stone dead." John Jacob Astor might obtain an uncovered credit for a reasonable amount, (where he was known,) and Mr. Bates, of the house of Barings, by wearing out a pair of shoes in walking from the Mansion house to the Minories, might sell fifteen hundred pounds worth of Massachusetts stock, with large concessions to the buyer. The fact is not the less to be concealed that

although I can conceive a state of things in which
such assumption as a measure of finance and national
policy might be eminently expedient.

in the shape of credit, or money at home to pay with aboard. Every species of property has fallen from fifty to one hundred per cent, and the standard of value has been so seriously disturbed, that a man in 1839 might have had property to three times the value of his debts, yet he is now ipso facto ruined by the silent transit of our country from a redundant circulation to what some are pleased most felicitously to call a hard money currency-when the fact is that we can procure neither that which is hard or soft.

I am gratified to inform you amidst this convulsion in the credit of several of the states, our own South Carolina, "wears her beaver up." She is never in arrear one day, and very often, as at this moment, (in reference to the loan I contracted for her) has her interest six months in advance in her banker's hands. This is not surprising. You know it has been one of our familiar and household lessons at home to submit cheerfully to the imposition of direct By this alteration in the standard of value, a revotaxes, to support the security and honor of our coun-lution is in portentous progress in our country, as

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