purpose of enabling them to resume specie payments, proposed that' wa should; for a limited period, receive their irredeemable paper in the payment of ducsto the.Govcrn* ' meat. Much eloquence was also formerly wasted tipun the extreme cruelty of having one currency for the Government andanpth er fur the people. Thank Gud-IVo hear no more of all this. No person •now contends ' that, under any circumstances, the Govern meat ought to receive depreciated bank pa per. Such fantasies have (proved too light for earth. They have risen to. the moon, where it is said the crude notions o( specu lative politicians are still floating about, and have a local habitation and. a name. Tho Senator charges us with having em ployed Jhe State bants as depositories, and having commended their conduct in the highest terms. This was agrevious sin, and grievously,have wd answered it. The dif ercnce between him and trs.is this; that after' they had shown themselves to bo utterly un worthy of our confidence, we .abamfopcd , flionVS hut at thatTnouvent he ; clasped them to his bosom. Admitting that.there has been | inconsistency on both sides, tljestato of the fact is this; we adopted the State,banks; they betrayed us; and we cast thern off forever. The. Opposition' denounced, this system in • fhe beginning, and prophesied that it prove a failure; but at the very moment when their prediction was verified, they embraced these castaways themselves with all the ar dor of lovers. These banks, as depositories of the public money, are now repudiated by all parties. Their day.has passed, and tve shall hear little move of them in connection . with this"subject. All men are wise after the fact; but, to look back, it has often occurred to mo as Wonderful, how we could ever have confided in the State banks as safe general deposi tories of the public treasure. • Our system of banking is the very worst, and the moat ir responsible that has ever existed on-the face of the earth. The charters of these banks ■fcowhereimpose any efficient restraints Upon the first instinct of their nature-, which is to tnake-ds much money for their stockholders as possible. They will;, therefore, always expand their credits and their issues in the day of delusive prosperity, without regarding •the approaching storm. The immense de ‘ posites of the Government ihcroasbd this fa tal tendency; whilst the public money, was freely loaned, and its security placed a’ ■hazard, for .the benefit of their stockholders ■but fur the ruin of the country. The won ■der, perhaps, Ought rather tu be that they held out so long, than that they should have finally exploded. In 1836, the immense amount of these ile posites,had stimulated them almost tu mad ness, The expansion-was then great beyond , . all .former example. Speculation raged throughout the land. The suspicions of tlie ■country were aroused against the Oovern nienti'an’d "the “banks" charged -with granting peculiar favors to men high in office, and to influential partisans, of the Adminis tration. They were denominated the "pet banks.” Such was the' general sepse of the insecurity of the public money,Tn their pos session, and such the jealousy which existed ■among the people, in consequence uf their connection with.the Government, that I veri ly believe the present Chief Magistrate would never have been elected, had it not been for the passage of the depusile bill. The adop tion of this measure was a choice of evils; but it was a much less evil than to have left nearly forty, millions of the public money in possession of the banks. UndoT the Inde pendent Treasury system, we shall never again be placed in such a fearful dilemma. I was very much astonished that we hpd no homily from the Senator against the spe cie clause uf the bill. Even this seems to have lost much of its terrors. It is no longer the terrific .monster which was to devou r al l the banks and establish a pure metallic cur rency for all the transactions of all the peo-, pie of the United States. p .There could be no Independent Treasury without this clause. If you were to receive bank notes in payment of the public dues, ■and retain them in your possession, yon would, in this manner, encourage the banks «s much to make extravagant expansions, as though you placed the same amount with them on general ■ deposite. Besides, you would thus confer a dangerous power upon the Secretary pf the Treasury, enabling mirT to.favor some banks and'fo ruin others; and even if this power should not be abused, sus picion would always snrround-its exercise. Voil must separate from the banks in every particular. Evils, both to them and to, the country, will follow from the least connec tion with them. Besides, if you receive bank note's at all, to the extent of the amount which you hold on hand,-you incur the very same risk of having them converted'into ir redeemable ‘ paper by an explosion of the banks, as if they held them on general de posite. The .Senator commenced Ids speech by _ presenting us.themoatgloomy-picture of national distress. lie°'predicted (hat. this distress would continue to increase during the present year, and that it would aftect aU ■classes of the community. . The suffering, he thinks, will be peculiarly severe during the ■ ’approaching summer. I might say to mm, vThy. wish was father, -Harry, :to.the thought.’ 1 I do not believe, however;-he would desire that the people should suffer in order to ac complish any political purpose! But if, with out contributing to tins result himself, it should be, the will of the powers above to in volve ns in pecuniary distress between this lime arid the Presidential election, he would doubtless bear the dispensation with Chris tian fortitude. It would flnnish political ca pital for: bis friends, and might contribute greailyto verify his prediction, that,General ■ Harrison will take possession of the White y-' House on the .dth of March, 18-il,. In'my oplmon, the'Senatorhasgrea'tly ex aggerated the extent of the existing distress, ; ——Txut.all classes, of the comtiuinitv have suf lered in some degree is certain; out intense , suffering has been chiefly .confined' to .the Jargh cotnmercial cities, and. those portions . -of the Up von, such as the State uf Mississippi, ■ where the banks have so evident!yyuined the ■ people as to place all doubt of the cause at' defiance. \Vhere is there the country under the Sim on which a bountiful Providence, lias i •' ponred out inure blessings than on Missjstip-' i i -pi?- ;;No population on Hie globe, lii pfopor " ;tion I luount of wealth from the cultivation'of the ,snil, And yet thebouutydf Providence has 1 . been counteracted by her miserable banking 1 system, and her people are now subjected to intense suffering. In this instance the effect flows so palpably from the cajisc, that every tnan seea and feels and knows it. What an astonishing fact was that, stated" by the,Sen j ator from Mississippi, [Mr. Walker,] that in those counties of pis Statewhere banks 'do | not exist, there iaiioauflering even at the present moment!lf you wanted an illus tration of the pernicious effects of the bank ing system, when it tempts farmers and planters to abandon their own proper busi ness and embark on the" ocean of wild spec ulation, you "could not have one more striking than' that, presented by Mississippi at the present moment. lam not gware that tliore is much individual distress "among the mass of the people in the .inferior of Pennsylvania. Thetc it is. chiefly confined', fo those who have been tempted, in the day of prosperity, to go beyond their meahsbythc facility, of obtaining bankaccommodatums. ■ - But ifrread the signs-of the times aright, the.crisjs has-passed^orrathcr is" gradually" passing away., WV cannot return tp n, state of prosperity before theTresidential election;, but the eondition of individuals, generally; will not-be one of intense suffering. The’ resources of this vast country are so great, and the productive classes are so industrious; that with two years of fair play, they can firodnce as much wealth as (he speculators iavebech able to squander in one. There will be no great Buttering" during ihe next summer, unless it may be in oar large com mercial cities." r ...... _ After presenting in glowing colors the distress of the country, the Senator asks what measure of relief have we proposed? I might ask him, in return, where he will find any clause in the Constitution conferring power upon Congress to regulate the banking and credit system of the- respective States, and. thus strike at the root of our calamities and embarrassments? The present Administra tion have not had the slightest agency in creating the existing distress, and can do but little to arrest it, or prevent its recurrence. This is a duty which devolves upon, the Stales. Still we have proposed a measure which we believe will produce this effect to a limited.extcnf. Our chief objects in adop ting the Independent Treasury; are to dis connect the Government from all banks, to secure the people’s uijincy from the wreck of the banking system, and to have it always ready to promote the prosperity of the coun try in peace, and delend.-it in-.war. Inci-' dentally, however, it will do some good in checking the extravagant spirit of specula tion, which is the banc of the countiy. , In the first place, by requiring specie ‘ all receipts and expenditures of the Govern- 1 '; ment, vpu will create an additional demand far gold and silver to the amount of five' millions of "dollars per "annum, according to the estimate of;tlieTresidcnt.- A large-por tion of this sura will be drawn from the -banks,-and_this_will compel them to kcep more specie in their vaults ii) proportion to their circulation and deposites, and. to bank less. This, so far as it may go, will strike at .the root of the existing evil. I fear, how ever, that it will prove to be but a very in adequate restraint upon excessiviTßanking. In the second place, this bill will, in some degree," diminish our imports, especially af ter June, 1842, -I most heartily" concur with the-Senator in desiring this result.— What is the condition of the importing buai ness.at the present moment? It is almost ex clnsively in the hands of British agents, who sell all the manufactures they can dispose of in olherportions of the world, and then bring the residum here to glut our markets. Ac cording to our existing laws, they recehe a credit from-the Government "for the amount of its duties- They sell the goods for cash; and'this credit becomes so much capital in their, hands, to_enable . them to make fresh importations. The Independent Treasury biirrequires that all duties shall be paid in gold and silver; and after June, 1842, the compromise law will takeaway,the credits altogether. We shall then have a system of cash duties in operation, which will cun trib- ute much to reduce the amount of our itm portations, and to encourage domestic man ufactures. - . • 1 In the third place, this bill will make the banking interest the greatest economists in. the country, so far as the Government is concerned- Their nerve of self-interest will be touched“in favor of economy, and this will induce .them to unite with the people in reducing the revenue and expenditures of the. Government to the lowest standard con sistently with the public good-- They will hereafter abhor a Surplus revenue, as much as they, delighted in it formerly, when they used it for banking purposes. Any surplus which may exist in future, will be locked up in gold and silver in the vaults of our de positories;, and, in proportion to its amount, will deprive the banks of so much of their specie. They will, therefore, become the partisans of reducing the revenue to the act ual and necessary expenditures of the Gov ernment; so that the specie'may flow'out of the sub-treasuries^withTrrapiditycorrespon ding with its influx. .Nothing but a large surplus can seriously injure the banks. This was demonstrated to me by one of the most distinguished financiers which onf country has-ever produced,not diimsclf, I behove, friendly to the Independent Treasury— These Treasury drafts, in thehatnral course of business, will find their way eitherTnto the banks at the very points where our de positaries are situated, or into the hands of individuals there bavingduties to pay to the Government. /Take, for example, N. York., 'A public creditor’ receives such a draft, on the receiver-general in payment of his debt. Will he'earry it to New Yorfc,reCeiv<: pay ment, aiid transport the specie from that city?-, fluclf instances, will be rare./’ He wilhgen-i erally deposite it to his credit in the bank with which he transacts .his business,lwhere- ever that may be. This bank, if not in New York, will transmitit for collection to one of ;the banks there; and thus these banks will draw the specie from pur depositary as rapid ly as it is drawn from.,them for the-payinent of tlie public'dues. - .'iTibs , the ’ equilibrium will be preserved, so long as the Government is without alarge; surplus.- In other instances, these drafts yviilbe sought after and procured by ludtviduals having duties to paV/and they wdl be-presented ~to the. receive’rs-generaf, and accepted by them instead of gold and silver. ; ; . . • - I now come to another arid the most im portant portion of the gentleman’s argument If the President had taken the Senator from Kentucky under his umbrella, and wrapped hislndia-rubber cloak around him, and made him his Palinurus to steer the ship of State— £Hete Mr. Cl a v said thiawas notapossU ble case.] ~ '' • " Mr. BDCHAKAN-repliedi that’all tilings are possible, and wonders will tieVcr ccdse;- I admit that such an event is nol very prolix -able; butshould it cver occur, triie as the needle to the pole, the Senator would' steer direct for a National Bank. Tins .is this' Senator's sovereign paiiacfca for-regulating the currency of the country and restraining the extravagance of the Stale banks. I. ad mit that the true issue notv before the coun try is between an Independent Treasury and a National Bank.- “The Pet; Bank” depos ite system has bpen such an utter failure, that Another resort to it. cannot be seriously con templated by any considerable portion of the American people. I feel the utmost 1 confi dence in the .success of the Independent Treasury, should the.law be ably and effici ently executed; but should it fail, the gext experiment will .doubtless be anotherßank of the United Stat.es. ■ 7 , •-Waiving',-at present, the constitutional question on which I have often expressed my opinion before the Senate, I propose to take up the ; Senator’s argument, and prove (hat such a bank would not regulate the currency if it could; andthat even if .it felt the wijf to do so, it would be entirely.destitute of the i power. • ; ' ■■ Would such hbankl'then, if it could,ion-: : trol and regulate the thhns-arid'isaues of the : State banks? In the affairs of huWan life, if you expect one agent to I'eatrain a'nother, you ought' to render then-interests This proposition is,emphatically ;U'«e,;whe}j, such agents are banking corporations, intent upo'n declaring the largest possible dividends among their stockholders.’ Now a Bank of the United States, so far from feeling any interest adverse to the Stale banks, would have the very same induccments.With them to make extravagant-loans and issues. ' The jluty.of-auch a bank, as a regulator of the currency, would be directly at war with its interest as a banking institution. You can nut raise men above the selfish passions of their nature, by making them directors and stockholders in a Bank of the United States. When their interest as bankers conflicts with their duty as regulators-of the currency, the history of mankind points you to the probable result. Like the State banks, they will al ways extend their loans and their issues, whenever they'can dp so without endanger ing their own security. This is tlye power ful instinct of self interest. It is absurd,' then, to expect that the president and direc tors of a Bank of the United States will ev er becofne sale and efficient regulators of the Currency - , in the very face ol'their own ipterest os stockho’ders. It would be easy, for me jo prove, from historical facts, that neither the former nor the present Bank of tho.-Unitcd States ever_didiser.cise.aj-cgUi; lar and efficient control over the issues of the State institutions. Onthe contrary, when ever their interest' impelled them to extend •their own is'sues, they have pursued this, course; and thus, instead of checking, they have given loose reins to the State banks.— Both lire Bank of the Uuitcd Statcsand these bankshave thus together rushed.on, and with united forces have ministered to that spirit of over-trading awl extravagant speculation which has so often desolated our country. — Time will not permiTtnc to do more than re fer to the vast expansions of this Bank in 1817 & 1818, in 1823, in 1831, and inlBS4.* These produced ruinous contractions and universal distress. 1 think I may affirm,, with perfect safety, that at each of these pe riods, instead of restraining the State banks, it took the lead. Has it ever preserved the State banking institutions in a sound- con dition? Let Mr. Gallatin answer this ques tion. He says that one hundred and sixty five of ourbanks broke betwecn~l BIT and 1830; and during the greater part.of this* period, we all know that the present Bank of the United States was in active existence. My great object, however, at this moment, is to prove, from the present condition of the Bank of,the United States, how hopeless it is to expect that any similar institution can ever be relied upon as a regulator of the cur rency. That Bank still exists, if its present condition maybe called existence; and this is the first occasion on which I have ever known the Senator lo be guilty of ungrate fully abandoning an old friend in the hour of calamity. Before I,take my seat, I shall en deavor to identify the gentleman and his party with this institution. ' “They were lovely.iii life, and in death they shall not be divided.’’.. ft is said that the Batik of the U; States is now but a mere State institution! But is its character changed by changing ’the source whence it derives*its charter? Is it not still the same institution that it ever has been, with the same capital, the same .directors, the same,stockholders, and, until very re cently, has it not been governed by .the same controlling will? Has it not been exultingly proclaimed' by its former president,.that it now has a much better charter from Penn- sylvaniadhan thatwliicli-.it hajd-receivedfrom Congress? This'is strictly the truth; for such a charter as-that, under which' it how exists was neverbefore granted to tiny bank'-, ing ih..Englaii|f or this country.’ The" '.United States, it-.-is true, ceased to be a’stockholder; but; it .enjoyed the privilege of their.millions, pfstock, for wliicli it could have procured, and’doubtless did procure, a largeadvance. . From the very'nature of things,-this Vast monopoly, with a capital of $35,000,000, coulil - not haye : bgcome-a State; institution. A single St,ate; with more than i sufficient number of State banks already itf existence, could not have furnished employment for its immense .capital. It would;', have starved -within 1 such.narrow limits, v*-v - I Did if, in point,of fact, confine its opera tions to Pennsylvania? No, sir; it aspired to regulate the currency, and.exchanges of the whole Union. This whs the, Ji(gb .political duty" (o_ the performance of which:,'it. pro claimed itself destined, ' TodcH me that this Bankall at unce changed ita. phwiacter ahd became aThcre State Ihs cause it had received a.charter frOm the Lpg islature of .Pennsylvania, is to deny .theieviP deuce of our - ow;h-sennes, ;’not the currency issued undefv the new'cfertetv as well as .that under .the old; declared in-tSSGif to be the best currency the world ever seen? Did not the hew notes command.the* spme premium, all over the Union, with the old onesj and would they not still continue to command the same premium If itiJiad not fallen-—fallen from its higlresfater —, •■■Why, sir, U became, in facU-mbrc a Bank .of the United -States aftet it received its Pennsylvania charter than it had ever been before, it bought up Stata banks and con verted them jjito branches, in Louisiana and .in Georgia; and it shot out its branch agen cies over the whole/Union.- In'New York it has established a branch bahk,under their free banking law. ' Since its new charter, hot content with ; the whole United Stales as the theatre: of ■ its operations, it has established an agency iu fingland;“and aspired “to beard tho lion in his/den.’t and to become.the Vival pf the Bank of England- in London itself. It scorned.to confine itself to banking opera tions alone; but has invaded the province of the merchant, and has attempted to monop olize and regulale the \VKole~cotton-trade between Europe and'this country.- And yet this Bankis now.said to bp a mere Pennsyl vania institution! , • r ' Now, sir, how hM.it which it imposed upon itself—of regulating the bank issues, and the foreign and domes tic exchanges of the Union? In little more than one year after its charter from Congress had expired, whilst in all respects it was under the same government, and continued to pursue the very same course of policy that it had done before, it became insolvent, atid suspended specie payments with' less than onemillion and a naif of gold and sil ver in its vaults, or less than one dollar for twjputy-tlvrec of its capital, to meet all its .imnlense liabilities. Their amount at the time I do not recollect at present, nor have I the mb an a of ascertaining it in my posses sion. Now, Sir, -I.“would ask the Senator, is there the least reason to believe that if this bank hard •coWttnAied.to be’the depositary nf the public revenue until May, 1837";.that its fate would have been or fhat WC should not then have'had. a genera] suspen sion of specie payments?- Why. sir, the public deposjtes \yotild only have added fuel to the flame; and would have tempted the Bank to engage in still wilder speculations. The overbanking and overtrading of 1836,. which were conducted .under its auspices; would have become still greater—the expan sion would have been still more extravagant —the bloated credit system, which enabled us iu that year'to import foreign merchan dise to, the value of nearly one hundred and ninety millions of dollars, might have raised our imports up to. two hundred and fifty tnillionsfand the catastrophe which followed would have been still more dreadful-. In order: to wpair its fallen fortunes, true to the-law of its nature, this Bank has since proceeded from one extravagance to another, until, it is now almost a heap of ruins. Instead of controlling and regulating the other banks of the country ,-it-has noto riously been the chief, .nay, almost,(ho only ;ca_us_e, of the existing suspension of specie payments. t The glory of which its hinds “now bbast is, thatit has been able to burrow ;SBOO,OOO sterling, at an extravagant rate of interest, from private bankers in England to save it from immediate bankruptcy and ruin* Alas! how are the mighty fallen! And it is by the creation of another such .institution that the Senator seeks to regulate the currency,-iihd control the bank issues of the country! ■ Why, this is faith against Tact; speculation against experience. This would be to adopt, us our grand regulator, nli iiv^ - stitution precisely similar' to that which has been the greatest author of our vast bank ex pansions, and our bloated credit system; and which has fallen under the weight of its own extravagance. With all the experience whirl (he people of the United States havei'liacl upon this subject, it will be long, 1 trust very long, before they return tu a Bank ol the United State?'., . , (CONCLUSION IN OUR NEXT.) GEN. HARRISON IN FAVOR OF TAX ING THE PEOPLE TO BUY THE SLAVES, Gen.- Harrison for the sake of beiiig Pros ident, it few years since, joined the Jlnli- Masons— later still,to counteract Mr. Clay’s anti-abolition speech of last Winter, he joined an abolition society. . Previous, however to this he proposed, that, the surplus revenue of the nation, should D’kappropriated to pur chasing the'slaves of ifjte, South . Hear him: “Should 1 he asked if there is no way by which the gene_ral government can aid the CAUSE OF EMANCIPATION; I answer that it has long been an object near my heart, to.see the whole or its SURPLUS REV ENUE APPROPRIATED TO TTIAT.OBJEOT.” Elect GehV Harrison President, and; (he TWENTY SIX.MILLIONS of the surplus revenue now deposited with the states, wilt be appropriated to the purchase of refuse negroes, to be set free and over-rub our country. Arc the people of the South pre pared for this? Are the people of Ohio pre pared for this? Is abolitionism, with all its evilsdo be-brought upon the country, by the aid of the whig party? The democracy of Ohio has stood by the South, and .passed laws to prevent the stealing of slaves by the abolitionists. —Will the Soutii now support a member of an abolition ..society, for Prcsi dentof theUnitedStales.— Ohm Statesman. ■ From Florida. —Battle of Blood-Hounds, —-A letter from Tallahassee, dated’the Stir instant, states that the blood-hounds, about . whic)i_so’ much has been said, are.“used to trail Indians, and not to eat them. .. They are Hot canniAnf blood-hounds, and sad ex perience demonstrates that these savages cannot be ferreted out without their aid; thirty of them i,n .the field, with, five Spanish trainers and Major Bailey, thfe well known Indian hunter. • With the exception of a shorter; nepknnd a more flattened nose, they resembjirolinordinary hotiml, and are equally innoccnfliiokirig. These dogs have, 'been procurediby.lhe territorial and hot.by the general Government, and for’territorial’ troops. When a trail .is discovered, the hounds are put on it, and the dragoons fol low '.■until the, enemy.is overtaken. Nor is it known'how the Indians, in their,predatory excursions, can.be found but>dmid the hamr mocks,“swamps'nndreyerg! ndcs.-of-a-couritry likq this, without such aid. J was at St. Matks-iL few days ago; in. which neighbor- kept; arid wakinform fcu that.fliey would;probably answer the' ob ject for which; they wevi!,,obtaiiicdiA port has just reached. Bail ey; with six hoUfidS; lipd fallen dian trail, which letHd ii camp dipfdH^fvSq, of whom were killed,, and the rest ran oOT, leaving (heir mdckasiiis, &c„ behind; One dog was killed by the Indians, arid’thescout ing party was still following the;trai.l*-i.This ; is the most important battle that has .taken place in.a long time.?’ ' CARLISLE; nitHtSDAY. FEBBttAnV M, 1810. “Now oinr flag is flung to the wilcl.wffta tree, ’ 'Let it Boat o'er our,‘father.land,” Ami the guard of its spotless fame shall he „ Columbia’s cltasenkandi" FOR PRESIDENT IN 1840. MARfIN VAN BFREN, ■ • AND AN ' INDEPENDENT TREASURY. notSc£» These interested are, hereby notified, that the bills duo this establishment for subscription, advertising and job work, will female out between this and tho'lstof April, when those indebted will be ex pected to liquidate their accounts cither with the cash or promissory notes. In the meantime,.those who can convenient);', will confer a favor by call ing at the office and settling their accounts'. - Subscribers at a distance can remit- through the mail, in current bahk. notes, at our risk, thoie ceipt-wbereof shall bo'aobnowledged. in Abe paper. isoßovaia jfuisiTiJvo. The Democrats of the Borough are, requested to meet at the.publio houso of Maj, Jacob liehrar, on Saturday evening next, at early candle light, for tiro purpose of adopting, the necessary preparatory measures for tho approaching Spring election; It is to be hoped that a general attendance will be hod. ' . .... MANY/ Carlisle, Tcb: 27', 1810. “W; ,f uhdfcr fill, the circumstances of the,case, we think inadmissible on account of the tone and temper evinced by the writer. Wc can perceive no possible good that would *bo lively to result to the public or tho writer himself from its publica-' tion, and therefore respectfully decline giving it a place in our columns. • . New Jersey disputed members.'- —This caSe has been "postponed till the first,, Monday df "April, at the request of the “broad seal” men, who ask for that length of time to hunt np what evidence they can to back thcTraudulcntcertificate they received from the Governor. The Committee on Elections are at present ’engaged in 'the investigation of the Naylor and Inger’soll casev ' * . , It might bo well for the Legislature to consider, seeing that there are some in favor of granting the Banks as long time as they ask, and also allowing them tho privilege of issuing small notes, whether such a course of* policy would he productive of beneficial nlf dv ~alle' jcneficial results' to the communityas'it is alleg fed by those friendly to the Banka. It is admitted cm all handinhat as soon as a ionmplicn takes place, those banks that arc in a solvent conditic n, will have little or ho occasion to oppress the com munity by drawing fepon their- debtors-, as is the case at present. But let the resumption bo post poned for sis months of a year} and the whole in tervening: period will be occupied with this grind ing process. This is a result which may be look ed for with certainty, if the resumption is pos’tpo-; : ned an unreasonable length of lime. , Again—suppose the Banks were permitted to ■ ; issufe one, two and three dollar*nctes~-would that benefit lt is a weft’ -ShowiLiack that the banks have now at least three times as much paper in crrculatich as they arc able to re- 1 • deem; and if any additional issues arc made* it re quires no prophet' to predict that 'a permanent re sumption will then be more difficult than it would bo without such new emission. Still further, would it not bo. affording facilities to insolvent bbnks (which sooner or later must go by the board,) to pave tho way for indicting a greater a-, taount of wrong upon thefeommunity* Wo think Ho*reasonable man can doubt the result. - We Say nothing no\V of the banishment of gold and silver entirely from circulation, which-would be the inevitable consequence of an emission of small notes. But we do think that, apart from the exclusion of specie, the evils of a protracted suspension are alike injurious to the interests of thd Banks (we moan the solvent ones) and the community—and in this opinion we'are not alone, as the following- from the Philadelphia Ledger will testify: “If a resumption of,, specie payments were to lake place,to-morrow, provided it were general, and', if compulsory, it must be general, no solvent bank would bo injuriously affected by it. Every bank which has the ordinary means of meetingits liabilities would pass the trial Unscathed, for so soon as it was ascertained that a bank nole_ colild at any moment be converted into silver, the desire to make such conversion would generally cease. Banks, tketeforev.that are fealty sound need enter tain no apprehension for themselves, and still less need tho friends of the people feel any apprehen sion. It is true that solvent.banks would he im mediately prostrated by such an act, while a dis tant day would enable them to .peculate still ther. But surely it will not bo pretended that in solvent banks, any more than insolvent individu als,.arc entitled to, leniency; arid _it is idle. to. urge that tho creditors of an insolvent debtor can here lioved.by protracting tho time at which his .insol vency. shall become Certain and absolute; A bnnk that cannot pay to day, cannot pay a month or six months lienee, and tho only result of'grunting the additional time would he to allow ittp accumulate indebtedness. If the Legislature should .fix the Ist of August as the period of.reaunription, will not every institution which feels .and knows its ul timate inability to discharge its obligations occupy, tho interval in ,th? use of such means as will serve to'pro ill ole its own purposes,-and instead of les sening, increase, to ther utmost exteiit of its pow ers, its liabilitiesf -The disgrace: and discredit of failure must necessarily be incurred* and it would be expectihg.tbo'rriuoh from liuthaii nature to sup pose .that those Whir had the control of these insti tutions would'not do the best they could for them selves. Wo should have, therefore, the circular tibn of the notes of. insolvent banks, increased by every, posbible y'arielyof effort nnd stratagem, and, of course, for every dollar th rown'into the public channels beyond what is flowing through them at present; there would be tlial addiUonaLamount of less to the community.- This would bo a strange inode■ pf"relief;:imd, jybV lb this coma if ‘we defer tho, da? of resumption. Instead of doing good ibtllo banks that aro.jh good condition tiow, we db therh a positive hand by. giving to; other in fitijutiona tho powec of absorbing tlioir meanerand ina%Mof;benefiling thepublic.-asthe cra orfiepagitorfi of ..the iiiiaourid. institutions, \vo add to' thraSlßuntyif tliolrlossesby inducing them :}o j HlndcrhooU Association of Coinbcr land C6unty. The late Co'ttnly Convention recommended Com mittees, not composed of more than twenty-ouo persons, to bo formed in every, borough"and town ship in the county—and instructed the delegates fespectiyely to furnish "their quota of names for publication. Some have promptly forwarded on their lists, and others have not yol attended to the matter." The several ‘township anSTborough Committed), arc to bo considered as forming A grand" County Committee, with the above mentioned title. We subjoin a list of the Committees already rci, .ceived, and trust that the balance will ho furnished •in time for our next publication: IiIANkFOKp. John Snider, sen. , lames Wallace, Esq: Alcx’i M. Kerr, Esq; • George Kiehl, George Drawbaugh, James Graham, ■ -John C. Snider, ■ - William Campbolli . . John Wallace, . John M'Crda, Samuel M’Doweli, John C. Brown, "■ 1 WillihnriiSanderson, John Orris, William'P. Swiger, . John Arnold, Mathias Clay, Samnol Fry, William ,Drawbangh, Philip Shambach, George Shianbach, HOPEWELL. John Caraon f- , Joseph M. Means, Esq. John S-. Ha\vk, Demjr G. Miller,. Frederick F. Isenhawcr, William Wherry, John M’Coy, , William Mitchell, James Henderson! jr. George Cumrcy, Robert Elliott, John Elliott, , John Cfarg, David Wherry, James Shoemaker, Thomas HtfUcfingcr, ' Wilifam Confaic, . Joseph Barr, ° John Stonier,' Benjamin Shulenbergeiy Joseph Hoover, ME CH A NIC S 81l R'O-. Dr. A. H. Van Hoff, . Thomas Bruner, David Criswell, Dr. W. W. Dale, George F. Cain, Esq. George Skamer, I. N. Hyers, Michael Baker, George Schroader, Jnccb'Uupley, J. T. Ayres,. .. - Dr. Ira Day, David Cromleigh,- Isaac Kinsey, . Jaqpb MilloV, David Worst, - o Frederick Wondcrlich, Daniel Reamer, John Hoover, N. Whisler, Samuel Kutz. NORTH MIDDLISTON: David Williams,- Christian Kinarf, . John C. Culver, Petra {loward, John,Brannon, . Dillcr Ringwall, Michael Fishhum, Peter Lehn, John Wonderlirb, Peter Hettrick, Alexander Cornman, Robert Gillin, ' \ William Common, Michael W : isr, George Brindle, Ah’m Laftiberton, Esq, Samuel Fisher, - David Wolf, Joseph Culver, ' John Wetzel, Jnaoph Wetzel. , ' NEW CUMBERLAND. R-R-,Church, W. R. Gorgas, Earn A, Wills, Esq,. . , J, 13. Drawbaugh, George Ernest, Val. Feaman,-jr, , D. Brook's, J. Bcninger! J, M. Gorgah, J. Hcck.qr. J. Hickernel), T A; C. Cummins, J. Ci. Miller, Dr. J. Crain, ‘ ' Dr. C. W. Dchb; Wm. Brooks, jr. J. Springer, ' JohiTßalsh y, ’ '■ ■J. : M. Ecklc#, J. Kauffman-, J. Feamam NEWVILLK. ... VViHiapi KliiiV, I). S. Dunlap, 31. J. Vanre, Thomas Chisjnv, William Crotzer, Alexander L.ltvinr, Joseph Waggoner, Esq. Thosi M'Cullooh, Esq'. John I).V,anderhel'tj Esq. Samuel Baker, Joseph Rhoads, • Sa.biUel Male, Joseph M’lCec, jr. John Slough, Esq. Skilcs Woodbufh, John Sharp, Elias Diehl, . William Gracey, Abraham Seavers, William Ruth, • John Hoover, John Poubly, James Kyle, George Maxwell, William Boyd, Peter A; .Trill, W. Storret, ■ John M’Dowcll. Jolm Hefllcman* James Gilmorb, Andrew J, Kortn> Robert W. MUvcr, AbramKillinn, Samuel Ah), SOUTHAMPTON. James Willis, Estj. Robert M’Cuno, E^q-: John K-i Kelso; Br-fj. Cok John Snyder, James Moore, Daniel S. Croft, Henry Hock, Samuel Fulton, , John Halter, . - JacbbOtt,- David Reese-, William Gulden; Samuel Noaer?-; John Britton, John Cromer, Peter Duey, John KitzmiUeV, James Kclso^jr. Jacob Crciner, William G. Duncan; Abraham Hcch. THE BANKS AND THE .STATE. The following remarks from the Pennsyfvanian> 'on the subject of the proposition made by the adclp&ia Banks,-ate So. ranch to ike point, and so fully accord With onr own views of tho iuaitet, that we cannot refrain from giving them a place in our columns: “We mentioned-a few days sincelhere port that the Banks intended to offer to the commonwealth cettaiu.quantitiesjof their ir redeemable and depreciated paper in trade for, an indulgence in suspension for a year* arid we have since-heard nothing, to induce the belief that the report was erroneous. It may>-we presume; - be taken for granted that it has sorite foundation, and it cannot there fore he amiss to say a few words iri'regard to this supposed plan of operations,'which deserves to be ranked among the monstrosi ties of the tiine.' ‘ Even if it should riot live longer than cnorgh UT draw asobbing breath arid to Utter a plaintive cry, it is entitled (6 a place in the political museum, among oth» *r “alligators stuffed,’* Taking"it for granted that a scheme of this character is .in contemplation, arid that, .the poverty, not the will, of Pennsylvania is relied on (or'the consent, tlVc nTa iter presents itself in ■several interesting points of .view. In the first place, it is clear thatif an indul gence be thus purcliased, there wijl bc no resumption at the end of the time specified. It the trading principle be recognised; why should there bef The bargain would only be ah adjournment of mutual difficulties; .nothing else. The State, then as now, would wapt more money—the Banks. thcrias now, would want more time, rTlie reosoDBndmif ted as cogent in 1840, would be quitc as im perative.in 1841, and for many years at the back rif it; and the hint,'thrown, out, in the suspension address of the Banks; published last October, in reference tb the Bank of England,, and specie payments withheld fot - twenty yepts without-any material damage, would be in a fair way to be realised.. -Dis mountlegal goVernment and fairly Jift thc ’ Banks into the saddle! as’ tliis schcrae con templates, anilweshourdfiridourselvesiri the bands ofa *‘roughrider ,, riot easily ehakeri .aißl infent unori tcachingris the mosfcajjproved paces; at once brought forward as rulers in the cab iuet and as /politiciaris in the field. , . .‘J’hey could and would insist upon concession af- ter-concession. .It would! beTcruel ; to withT kold the public would ~
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