The press. (Philadelphia [Pa.]) 1857-1880, November 26, 1857, Image 2

it4 .,, a 4,!t,,?:.5,'1-'''''-`-.
TRIM SnAiriIIOVEMBER 26, 1867.
TIJE,WEKLY PRESS,
T4n2-.*-1421x °Sibs; Beek eudtug
it bar efi 7
untee
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in the posiession of every Wally. The. oontontiaro--i
LITAVII.,OY;IIENRY A. WISE.
IIIcTiIAcdaDEIAILY ,LETTER FROM 0 ill L.Os
- LEVTEM , MAJORITY SOLE. .• • ••
DEIROPRATIO • PRNBS - BOLDLYrAGAINAT -FRAUD
An - 08AS -AND' CALIFORNIA. • = ^
X iNSARVONSTITTITIONAL CYHMENTION.
Tutd*ioN , colOaaivr,_ ll *.
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AMEROAI,RLQSI:I7,ONOR. •: •- • .-
EXCIAJOIOKIT,OXPI4B:Mi,VAMAPA.. •
THE RULE OF MILITARY SENILITY. ,
ONR:TRINCAT,ILVIAHR -
PRALITIOAL'!PITILANTRBOTY: • •, • 5 •
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iti6i/d 3 laav,et overlooked St.- Gurhoary lists compelns
to'adhere tv MSS
CON NT9 OP Plitire - PLei.Engiiiiii: Pinnies;
L)tiOry. Crit;Ctsm'Paymient_of liiterost on
the City Debt; Want of Labor .in therWest ;
Correspqndetice; Steamship 'Coo
lonsai ; General the - .
TIUN KSGAVING.
The crew of a gallant fildpAust rescued Item'
a watery grave, instinctively offer prays'''. tithe
Giver of all good for the",preservation of_tbeir
lives. ' It is in some , such' spirit i thisf - the
people Of nineteen, tates of. this,Republic
assenible, to-day, to, offer solemn prayer and
thanks -to- the great: Ruler' of the .universe.
The great
. calamity thai'still Range; over'us flit
not destroYo'..ey;eiithingC7,* have no fainiine
at our doors no foreign ASV ou 'our vvaters" , oh
on our fiontreiWfirbineStiO'.'-djkgersioilii"
and, iiiyet; A.
'plenteous harveit has drowned - thiOlabort bf
the'-farmer, .and, although trade le - litalyse;tl
and , indi S t . ryf -unonsplOyelkwt' fiSghf:', to f dice
the I#llo,4liyitk'soiit, and eheeifal
additiefs-to.these,Prime advantages; we' fume, a
safe, steady, and "eirial
eilfiltahlit'' . loi;-!aid no Pily`lig,e , 4"elassss,,,
lydickuitio6.l4 "Goits . fooistoisl.-can Say, the'
`Pltres" will not be to:
po,aitcai,jl6ol:94o . ol4' elite ,dap ict„Ttlankti t
giving,matters.; _ • •
DISTRICT isiToßsEvitm ,
NOIC,, fiat !ckirsits: surprise ,
ti'Mde",,i,o 4 Wards:.the •;eitir ,
zeds, assumed br . thO Jndges'bf the - 0 oUrVoi
Quarter Sessleits„ , lu in' - spp'Olnirnenthra"l49-
e"peliticai:;coinpleaton as
-the
one, already :holding: the .Pflice :their;
opinion -bathe Sistrict"Attebraey dab',
The recast act of Aisemhly, whiCh coriforied
thiii:pchl-er:; r om the: court, contemplated,
plainly., as -language could express. intention,
that two
- persons, of different political - parties,
shOuld The . ofilee'; and '.it' wasOlotibtlesi i ,
supposed bY:lhe Legislature.that tis 3 power.of,
selection might safely be entrusted -to judges
whose business It i 9 t 6 see that the laws are
faithfully. executed. 'l4 :the Legislature
has been
We do n4d'estre,to, bounderstSod to dis
parage the personal or professional standing of
Mr. LOVGLFEAD: ' We bprnp,
string. testimony in favorof
~' both ; but .
his. selection, „under the cireumitances l .: is
as, surprising 4as Was 'the opinion of :'the
court, Aybieb, deeliired, Mass,. blerled,
by throwing out the •liotes-:of—everY , vett*:
Vhogkiiiirpoi Wall not' found en' 0.0 asses:on:3a,
nits; made e'en: or eighteen months4;4"m
the election.. • "- • ,
SENATOR DAVIS ON WAIMEA.,
At:tho Opening ,of.'the Legislature of lila;
sissippi, Senator JovrEasore Davrs gave his
version of the law op tholansattCtinstitution,
of iv`hich he semis to have - ,had a. reasonably
fair ideivirl advance: - • 5
sionsideredthai Hebert 3. Walker, as fils
vernor of Katisasjsafithrown hie intlacooo,egainst
the South'; tfiat hintstiminF` Coate :terms to
the Constitutional Convention in that Tekritory,b6
had been guilty of 'usurpation of power, and had
struck hands With' thoAbolliiebists. 116 lind,rciasori
to' beitiVe thit: President Btiohenan 'would:not
endorse Walker's course, stud, that! if Kau."
sae applied to become ansemberof 'the Union witli
a :pro--eitived -- Constitrition, be would favor her
admission; but if be opposed it on thatgrenpd,blp
AdMinistration would no lodger be entitleißtotthe
confidence of Southern men, .For himself ho would
say, down with it! By the °rent° law of Kansas,
this Convention wore not required to Submit:the
Constitution" they might adopt, to the peePle; the
pelletal' approbation would 'give it no validity ; the
instrument would bo void until approved by Con
gress. As the Conminlion bad plenary powers, it
could - refer' the Constitution .the people, or
send it directly to Congress ' as it Might deem, pro
per. .11.0 could see no good reason why the latter
course should not be pursued. A different, one
viola nedessarilylead to a continuande of agile-,
tion, Which it was the great object' of the .Kansas
act to allay: But if submitted to' the People, • the
great question was, who were to vote Upon it; and
be contended that that question had already been
decided -by - the - Legislature, or should be settled
by the Convention itself, end that neither Gov.
Walkei nor the Administration had any 'power
over it:'
Should Kansas be - denied, admission because of
her prealaveiy Constitution; the issue contempla
ted by the, Convention of this State in: Issl would
be - presented. We were bound JO meet it, or be
degraded:- Submission to such ow infasien of our
rights . vionld cover us With moral leprosy,- 'lt was
for Mali to 'say what gate - pktakitil do. - As
an individual, he had 'no cOncealments ;. be would
be in favor Of stern resistance ; the dedaßion would
be one whieh alienidpreitipt every Iliesittsippitin. to
exclaim withltio - great orator of-the Revolution;
!‘ Give me libertY; give)no . deatit.".
There ill no conservative citizen' in the' fien
States` whit Would approve theirejiietiOn of
Congress beentiie elm came there
.
with .S.,pro=slavery• bonstitutioni.
,Upon this
prinCiple we took our stantig . .When some of
Lhasa noiv advocating 'the Palkiiittn,Ctintriianota
were openly opposing 0111860 Mb:
B tit Oenekal,D.,tvles idea {that t4epotivention
is Soverstin,and thin people matt ) , tut
the majority must -yield to the- minority ;• and
hit theory;lSlbis; If anything) , itnne agakiat
which we plrhtest Xt is id drititta ifnd,eititritio
yisqatio4 of gig Kanto • • -
ENGLISH MONETARY MATTERS.
lAt the eleventh hour, the British Govern
ment has done, with respekt to the sank of
England, what it might as Tal'lave 4943.pr0
financial difficulties had floaded"Oreat Britain,
with devastation. On the :11th the day
after the .dttantic sailed; a Treasuty order was
issued, suspending the Sanirlbluifter—SO far as
relates to the issue of notes of loss amount
„than Five pounds sterling. The Bank actually
has sufficient gold in its vaults to pay off every
shilling of its paper issue::: The question then
.arises how • the
. Nero York • Tawas could an
nounce this iminuisiou ((ACC small notes take
-thevlsee - of: gold, - as-the " Suspension of the
Bank of England:l" it
Such ci statement as ecitiveying h false
,
impression, is, unpardonable. As long as a
ttader has golden dollars to put forth when
lie refirea the bills of exchange and promissory
notes which he bad accepted or endorsed, no
one 'can say that he suipended—for, to sus
pend payment (as Messrs. BoWEN & MoNmisa,
of., The Independent, are personally aware)
thenns that a man has not' got the'whorewithal
to pay his way. Tho Bankof England has not
"suspended." But part of its ehartei was
suspended;-by order of 'the- GoVernment, in
order th*Ovide a substitute 'for gold, either
di3ported hem England or boarded up by timid
people.
. when, on account of commercial difficulties
lin'the ignited States, it became an object to
export gold, the Bank raised the rate of its
discounts—that is, it raised the price at which
it sold gold. As every bank-note which it
Paid out is redeemable in gold, on demand,
the probeeds of' all bills discounted by the
Bank were immediately convertible into gold;
The, whide capital of the Bank is about four
th= millions and a ,half sterling, and to pre
vent this being, drawn out, the rates of dis
count were successively advanced until they
reached 10 per cent. Merolla* and traders,
who badlarge dealings with`the trnifed States,
found themselves, in diffieultiesfroui, the non
`reeeilit of.remittanees which they looked for
from: their" American debtors. Bankruptcy
'or'snsininsion Was the consequence ;the state
liest. commercial hOuses in Great Britain
stopped payment, from inability to get funds,
fitshort and unexpected notices ; banks were'
also; linable to' pay. Gold had been nearly
draWn'ont of circulation by exportation, or by
boarding. The amount, of cidned silver in
England is insufficient to carry on the ordinary
business of that realm. The Government, by
allowing the issue of small' notes, supplies a
Substitute", for gold; eases the' operations' of
trade, and'tberebY restores nubile confidence.
The instantit, 'was, known that tho Treasury
Order. had been , sent to the Bank, the Panic
Ceased, the funds rallied, and the markets rose.
' The New ' York Times anticipates that "The
Crifo,reed action of the' English' Treasury
deal:lCCa be followed by a crusade upon tire
Bank' Charter." In the sense the word is
hero used; there is no "English Treasury"—
eicept the Bank 'of - England, which acts as
Cashie for ;the' Government. , The 'members
of the Government who issued' the
(Amin question, continue to bear the old
title of "Lords of the Treasury," though they
babe no treasure to take Caro 'of. Hence the
blander of the,New,York writer.
As for ", a,,crutiade upon the Bank Charter,"
there, is not much :slireace.of that. It is true
that, by tho. Bank ' , Charter of 1844, (passed
when PEEL Seas Prime Minister,) a right is re
served,to the Government of repealing all pri
idloges,grantedto ;the Bank of England, on
twelve months! notice at any time after Au-,
gust; 1855. But such repeal can be made,
Trot by " the English Treasury," but by Act of
PkilliOefit, which might hot' he easily prove
table, io*.great the induenno of the Bank;
knd so,confirniedthe popplar belief in the
Own of PEEL'S princfplea,.Snaliy brought into ,
pill; operation by the Batik Charter 0f4844.
' The'inferipation received by the 'Vanderbilt
is so vague that vie" are 'unable - to "state, and
we receive our English newspapers, how far
this issue of small notes actually is to go. The
Bank of England, in the very fe;er of the
Panic; was entirely safe and solvent. How
bould it be otherwise, with a dollar in gold for
every dollar it had Issued in paper Ono of
two things wottld follow the permission granted
by the Government to issue small notes—first,
to withdraw 'a certain amount of its' five-pound
note's, and replace them by ones and twos,
Which would nOt increase its circulation ; or,
secondly; to issue a certain amount of ones
'and twos in addition to that circulation, for
which, • thCre is an equivalent_ gold in the
vaults of the Bank.
1 Tho issue of small notes is a desperate re.
inedy; an expedient uihich lIVEIT be temporary.
Extraordinary cases sometimes require extra
iniliihry treatment—and perhapsQao present
is such x ease. It the Treasury mar wore to
be issued at all; it should have been sent out
before ipatters were at thbir worst.
7a oui first page:we , have glanced at the
history of the more recent Panics in England.
They all 'show the same cause—over-trading,
Over-speculation, , the giving excessive foreign
Credits; and want of prudence, in every thing.
pkaape` crafsee have operated among our
#6-IVes..: ive• are now in a state of suspended
animation'. May we, •when.be commercial
plembiood 'of the country freely circulates
once more, take a lesson from the crisis we
have passed throngli
THIO - * . .ANSAS CONSTITUTION.
We-. hope the people of Kansas will avail
themselves of the opportunity of voting upon
tho - ntavitry question presented by the schedule
of the late Convention. However poor the boon
maybe, compared with the right , they should
have enjoyed of passing judgment upon their
entire Constitution, their position may be fin-
Proved; and we do not see bow it can be seri
ously injured, by expressing their sentiments
Upon that question. By voting, the whole
c - ountry will be taught, with certainty, what
their wishes' ere, if the election be fairly con
ducted, as we hopo'it may be.
The Louisville (Icy.) Democrat
The Louievilleaily) DentoFrat of Satur
(the most 'influential Deinocratie paper
in Kentucky) says
"We , are 'of - opinion that the refusal to
submit the
,Copstitution entire to the popular
vote will 'be fatal , to, its reception , by Con
gress. , When there may be a doubt as to
whether the people approve the Constitution,
it is just about certain it will not be sanc
tioned by Congress; especially as this Con
stitotion, it it is not misrepresented, cannot
be amended-until 1864, and not then, without
two-thirds of the Legislature concur in calling
a Convention. • • The Cons' Ration is not
submitted to tho people; and 'no reason can
be given for the omission, except the appre
hension, that' it might be voted,down. Will
the other States run ' the' risk of dragging a
State into the Union that _does not wish to
comb on the condition proposed They
cannot do it, and we may safely predict they
will:not do it." '• - • • - •
itUttie
With the eitooption. of Walnut:street theake,
the ditierenepineeo of 'public, atneoomont Trae
oily will have afteinoonies well no evening; per
,.
(enhances.
signora Parodi, with If, Vieuxtemps, and several
performere from the New York Academy of Mole,
will giiro, a Concert at Musical Fund Nall, on
Monday evening. Signora Parodi is en route for
Jago,, hi Cuba.
' " RESUMED Orznamons.—The Eagle hat
Works of Messrs. M. Ja T.' Siegel, nhich suc
cumbed for a brief period to the pressure of the
money market, resumed operations yesterday, and
the loud clank of their machinery is ones more
heard, to bring joy to the working-mon and me
chanics, many of whom tied employment in this
extensive establishment. We aro happy to hoar
that the firms engaged in this branch of industry
have determined upon a meeting, on the 20th lust.,
at Danbury, Conn., for the purpose of adopting a
now system in the matter of credits, reducing
sales to shorter periods of payment being the prie
d Pal object.—BerLs County Piss's, Nov. 21.
VERY • LARGE 'SALE-STOCKS, REAL ROTATE,
dm.—Thoinits tt Sons' sale, on Tuesday next, wi ll
comprlse'la very large amount of valuablo city
and country property, stooks, loans, promissory
.notos, by ordor of Orphans' Court, executors,
and others. See advertisement anetion Brad.
Taittenv . 00 ELEGANT AND VALUABLE ROOKR.-
Catalogues of Mr. Walsh's valuablo library, to he
Sold next Tuesday and Wednesday, are now ready.
07"
,Tho. Von4rkilt steamer, whose news
we published yesterday in advance, had not
arrived at New, York, up to a late hour last
night. —She is about due there, and may be
expected in the course of to-day.
01 - The Cherleston (S. 0.) Mercury hopes
the Free=State men will not vote at the election
in Kansas in December. We hope they will.
Fut.— A frame barn, 'opined by Or: Weaver,
near the, township line; Gormantovn, was set on
ti at 5 ti'olook yogtorday afternoon, and partially
destreyed., SeQO ?
, viblolt is fully covered by
Inturanoo,
THE PRESS.--PITILADELPHIA 4 THURSDAY, NOVEMBER 20, 1857.
BY MIDNIGHT MAIL.
FROH WASHINGTON.
[Correspondence of Tho Prom]
Uon. Natlitui- Clifford to be Justice Curtis'
Successor on the, U. S. Supreme Bench—
Delegu4s from the Territories—Major Ste
vens and the_ Came War—Sloop.of-War—
. Candidates for Offices within the gift of the
Ifouie of Repreiteutatives—ltecelpts item Cue.
toms increasing, &c.
WASHINGTON, NOV. 25, 1857.
Bon. Nathan Clifford, of Maine, I have every
reason to believe, will be nominated by the Presi
dent to the Sonata as an associate justice of tho Su
premo Court of the United States to fill the va
cancy occasioned on that bench by the resignation
of Justice Curtis, of Massaohusetts Mr. Clifford ,
it will bn remembered, was in Mr. Polk's Cabinet,
and discharged the onerous and responsible duties
of Attorney General, as the immediate successor of
Ilon. , John , Y. Mason, of Virginia, from October
17th, 1846, to March 18th, 1848.
Mr. Buchanan, in filling this vacancy, was not
so much governed by political considerations,
though they were not altogether forgotten, as by
a desire to eleVate, from the extreme northern
judicial district, to the supreme judicature of the
land, a man worthy, by learning in the law and
experience in the courts, to be the successor of
Chief Tnstioo Marshall. the associate of Chief
Justice Taney and his colleagues.
General Lane, Major Stevens, Lieutenant Mowry,
And Mr. Bernhisol, delegates in Congress from
Utah,. Arizona, Washington, and Oregon, have
arrived. The delegates from Minnesota and Da
ootah are expected this week. Arizona has not
been erected into a Territory as yet, but in the
next Congress a strong effort will be made to ex
tend over the Gadsden Purchase, which it em
braces; a separate territorial organization.
Dacota (the Indian name for the Sioux) is the
portion of Minnesota Territory to the north of the
Red River of the North, and has been provided for
already by the law for calling a Convention, with
a view to the admission into the Union of Minne
sota, south of that river, as a State.
Upon Major Stevens, formerly of the United
States army, and known as a gentleman orun
scientille attainments, will fall the onus pro
handi in securing for Oregon and Washington the
repayment by the 'United States Treasury, of the
debt incurred by those Territories in their war with
the Cayuso. and other warlike Indian tribes of that
region.
Major Stevens was Governor of Washington
Territory at the time, and it may not be forgotten
that there is, too, a personal controversy between
him and General Wool which has not been
adjusted, and which may in the end give to the
country some rich developments. There is also
a question for explanation which arises oat of a
declaration by Governor Stevens of martial law
in that Territory. Tho Governor says that he
has been elooted to Congress by a largo majority
0f the suffrages of Washin g ton, and will take
his seat in the House of Representatives as the
acknowledged representative of the wishes and
opinions of its people.'
The drawings for the now sloop-of-war to be con
structed at Philadelphia will lie finished and for
warded to their destination by Monday part, and
by the end of the corning week it is thought that
work upon it, at the Philadelphia navy yard, will
employ all the hands which have been lately dis
charged, and others beside.
llon..be. L. Orr;of Seuthparnlina, is here, and
stopping at Brown's. Phelps, of Missouri, and
Stephens, of Georgia, his principal competitors for
the Speakership, have not arrived. Allen, of Illi
nois, for olork, has the field all to himself, Robin
son, of Indiana, and the other candidates, being ab
sent. For doorkeeper the - aspirants would fill a
column with their names. Amongst them the can
vass has already commenced, and with an unusual
warmth. For postmaster, Mr. Mike Cluskey, of
Georgia, and author of the Political Encyclopedia,
Johnson, of Virginia, the old postmaster, and others
are not slow to push their chances as the oppor
tunity presents itself.
Yesterday, at the port of New York, the receipts
for customs were $72.000, a larger sum by $lO,OOO
than has been received there in ono day since the
financial mists began. Collector Schell is of opi
nion that the receipts will Increase steadily until
in Iletember they will reach $lOO,OOO a day.
Philadelphia, and Boston, and Baltimore, so far as
thettnive bean heard from, exhibit in their re
turns an, equally cheerful condition of trade, and
As bright prospect for the requisite revenue for the
Government.
Inquiries aro frequently made as to whether
registers and receivers in the several laud dis
tricts of the United States can do official sots by
deputies. I understand that any receipt, certifi
unto, or other official paper bearing the signature
of any other person than that of the officer himself,
is of no validity, and not binding upon the Gov
ernment. When absent on leave for a brief period,
they must place the certificates in the hands of a
trustworthy person, for whose dealings with others
the officers aro responsible. If the absence be pro
longed, the vacancy can alone bo filled by the
President.
To-morrow is Thanksgiving Day, and the Do•
partments will be closed by order of the President.
Your correspondent will thereby save his cus
tomary diurnal tramp of six or seven miles, and
enjoy at his room, for ono day, his otiuvs rum
dignitate. X. Y.
CITY POLICE-NOVEMBER 25
peportod for Tho Preen.'
PARTNERSHIP IN PANTALOONS.—Two youngsters
from the city of Notions (runaway apprentices
most probably) were brought up on the charge of
making a disturbance at a lodging-house in Front
street. The names of these lads are Michael Fal
lings and George Bateman. They aro house
painters by trade, and appear to be nearly of equal
ago, say about soventoen. The cause of the disa
greement which led to their arrest is thus stated ;
They had learned their trade at the same shop in
Boston, but finding that chowder and "punkin
sass" did not agree with their constitutions, they
left that land of spare diet, and cams to a region
flowing with milk and honey, videlicit Pennsylva
nia. Each had but a scanty supply of clothing,
including one pair of pantaloons a-piece, and those
pants having boon used in their daily employment,
wero stained with all the prismatic colors, and all
the combinations thereof, as the garments of house
painteraaro apt to ho; and they wore apprehon
sive that this rainbow-tinted apparel would not
be exactly the thing for a promonado dross
tesuch a plain, place as the Quaker Oity.
Neither Fallings nor Bateman possessed
cleat funds to purchase a pair of Sunday panta
loons for himself, andathe only alternative seemed
ttPbe to make a joint-stook concern of it, each con
tributing a portion of the purchase-money. Bats
man (being the richer of the two) subscribed 87}
cents, and Fallings put in half a dollar—the com
bined capital was then inrested in a very decent
pair of dark-brown oassinot pants, which, as those
young Bostonians supposed, were oaloulated to
make the wearer quite. presentable .ainong the
2„urikers, even on the Sabbath and other holiday
oceasidbs. It was the mutual understanding be
tween the stockholders or partners that these holi
day pants should be worn by each altormetoly, in
order that both might hare an opportunity to make
a display, tgAi Quito th%envy and astonishment
of the Quaker citizens.
On the morning after their arrival, (yesterday,)
Foflings, being anxious to exhibit himself to the
Philadelphia public, arose at an early hour, and,
supposing his friend, partner, used bed-fellow to he
still Asleep, he hastened to put on the brown easel
net pantaloons. But, before ho had quite suc
ceeded in this enterprise, Batomen opened his
eyes---opened them, indeed, with astonishment, at
the.preiumption of Follings in offering to make
the first use offthe garment for, which he (Bate
man) had contributed nearly two-thirds of the
purchase-money! In a violent St of indignation,
he started from the bed and seised the pantaloons
by one leg, (the other being already occupied by
Follings,) and attlempted to gain possession. Pol
lings struggled hard to maintain his position,
which he considered as almost impregnable, but
the furious twitches and jerks of Bateman soon
made a breach in the breeches. In fact, they
were' speedily reduced to nariow strips of cloth,
and made totally unavailable for any purpose of
use or ornament. Besides, in the course of the
contest between the partners,
a wash-stand hats
upset, 'and . a queensware pitcher and basin wore
broken to atoms. The loss of those articles so
offended the landlord, that he had the youngsters
brought up to answer for the damage and dis
turbance they hod made on his promises. They
wore liberated, after promising good bet:ogler,
and pledging themselves to pay for the broiren
crockery. W.
PHILADELPHIA MARKETS.
'WEDNESDAY EVENING, Nov. 25.—The market for
Breadstuffs continues innetive, and prices about
the same ; the sales of Flour embrace about 450
bbls superfine, at $5.2545.37} for common and
choice brands; 1,200 .bbls extra, at $5.5045.75,
and 000 bbls extra family Fleur, pt $5.81ia§0.75
Per bbl. The local trade pre ,to a lifted
extent only, at from $5.28a57.05 per bbl for com
mon to extra And fancy family brands. A sato of
300 bbls country Corn Meal is reported, at UHL
but most holders ask, snore. ltye Flour is hold at
51.50 per bbl, without sales. Wheat is not so
plenty today, and holders, in 910 W of the cold
Weather, are firm in their demands; about
2,000 bus red brought $1.20a51.95 for fair to
prime lots, and 3,500 bus white, $1.20a1530 in store
and afloat, the latter for good Southern. Corn is
wanted, but there is very little offering, and about
1,000 bus old yellow sold at 81c, 2,800 bus now sold at
b9ao.2e as to dryness. Oats aro firm, and about
5,000 busk southern and Pennsylvania brought
35fa38c, part in store. Bye is wanted and very
scarce at 75ano for Delaware and Pennsylvania.
Nothing doing In Quoccitron Bark, holders ask $3O
for let quality. Cotton is unchanged and dull at
previously quoted rates. Groceries—not much
doing, but about 200 hhds. Sugar sold at 7eV,A, 4
mos., and 200 bbls. syrup Molasses on terms not
made public, and 400 bags 'Rio Coffee at 10.1aMe
on time, Provisions are dull at 81911820 per bbl.
for moss Pork; a saki of Sides and Shoulders was
made at Os per lb., and Lard at Uo for bbls , and
Vie for kegs. Whiskey isfirmer ; sales at 221a23a
for kb1i.,220 for Ithdo , , and. 210 for Drodse.
TUE LATEST NEWS
BY TELEGRAPH.
HIGHLY IMPORTANT FROM MEXICOi•
ANOTHER GENERAL REVOLUTION
.Vegotlattons between the Revotilliontattgnd,
lIM2=I
COMONFORT , I3 PALL CONSIDERED CERTAIN
NEW ORLEANS, Nov. 24.—The United States
mail steamship Tennessee has arrived at this port,
bringing Vora Cruz dates to the 2ist and city of
Mexico to the 19th inst.
The country was in a most distracted oondition.
Another general revolution was impending. '
Negotiations wore pending between the mein.
tionists and Santa Anna, whom undoubtedly they
intend snaking President.
The Tennessee brings twenty-three politioal ex•
iles, among whom are ex-President Sllee, Jose
Washington, and Col. Romero.
William Moran, editor of the Ealtaordinaire,
bad boon imprisoned for the publication of an ar
tiolo against the Governor of Zacatecas.
Comonfort's fall was considered cortain.
It was thought doubtful whothor his lifo will ho
spared if ho romaine in tho country.
Stalling 'of the Arabia—sl,soo,ooo In Specie
NEW YEEK, Nov. 25.—The Cunard mail !steamer
Arabia sailed at noon, with upwards of a million
and a half in specie on freight.
FROM WASHINGTON
Arrival of Governor Walker—The Mission of
Sir Win. Gore Guilder.
Wasnisaros, November 25.—Governor Walker,
of Kansas, arrived hero this evening.
The statement in the London Post, to the effect
that Sir Win. Gore Ousoley has a mission to the
Government of the United States, is altogether
incorrect. lie Is simply accredited to the Go
vernment of Central America, and has cob° to
Washington to consult with Lord Napier and
General Case. Tbo inlorviewa between tholl4Bl
- Secretary of State, and Sir Williatnottoro
Onseley, have hithorto been merely of a eeremor
nious end friendly otiraolor. Tho objects of hie
mission will shortly be communicated to the De•
partment of State by Lord Napier in an official
form.
To-morrow being sot apart as a day of thanks
giving, the Departments will be closed, and no
public business transacted.
' There is much solicitude regarding General
‘Valker's fillibustering movements. Tho Govern
ment has received no tuliices on the subjee7i.
The Charleston, S. tT, Chamber of Commerce
on the Currency-Question.
Wasutsurou, Nov. 25.—The Charleston (8- C.)
papers, furnished by the southern mail, state that
the Chamber of Commerce of that oily have pro.
pared a memorial to the Legislature, asking for
the passage of un act to prevent the hanks from
using the eiroulatiou of any of the banks of the
State, beyond the limits of the State, for discount
purposes, and also to prevent the recovery In the
Stale courts of notes or exchange, ie., payable In
another State, for the purpose of exacting illegal
discount rates.
The Hurtling of the Steamer Rainbow—Addi
tional Names of the Lost.
CINCINNATI, Nov. 25.—The following era addi•
tional names of the victims by the burning of the
steamer Rainbow, on the Mississippi river:
Mr. McGaffin, of Kontuoky.
Three children of Mrs. Whittaker, of Vicksburg,
Miss.
Mrs. Whoatloy and child, or PAlifornia.
Mr. Lasko, of Arkansas.
M;. Ingraham, of Now Organs,
Miss Farriok and Mr. Brashaars, of West Point.
A lady in the cabin and three others among the
dock passongers also perished. Their names aro
unknown.
Also, Wm. Rochester and E. Prather, stewards ;
the third and fourth cooks; throe deck hands,
and three colored boys.
Cold Wenther
MONTEIIAh, Nov. 25.—Tholvonalgr this migning
is very cold, and the mercury stands at four 4o
green below zero. The Beauharnois canal is frozen
over.
LYONS, N. Y., Nov. 25.—Navigation is entirely
suspended. The canal is frozen hard, and people
are skating on the ice. A large number of boats
aro detained at Cayuga, Marsh, and along the
oanal between here anti Buffalo.
BUFFALO, Nov. 25.—Tbo weathor is vary cold.
Considerable ion has boon formed in tho harbor.
Tho canal is frozen so tight that the boats cannot
snore.
Now roux, Nov. 23—Bvening.—The cold has
been severe for the last twonty,four hoer&
ALBANY, Nov. 21—Evening.—The weather con
tinues intensely cold, and the canals are so block
ed }Kith ice as to cause n complete suspension of
canal navigation.
Cisetetuvrt, Nov. 21—The weather is ohm, the
mercury indicating 21 degrees. The riser •shows
9 foot, and falling.
llores,Lo, Nniv YORK, Nov. 21;--Evoning—The
weathor is clear and calm, but bold. Tho harbor
is still partially open, but the canal is closed,
Arius, New ]oar;, Nov. 25—Evoning—Tho
weather is growing coltler, and quite a severe frost
prevails.
Severe Storm nt Albany, N. I(.—Vaual Nari.
antlon.
ALBANY, Nov. 25.—Thero has boon a .sovero
change in the weather since midnight. The wind
is blowing furiously from the northeast, and the
thermometer is falling rapidly.
Tho frost in this vicinity is quite heavy. It is
feared the canal will be closed by ioo much sooner
than was anticipated. Thoro is a largo amount of
produce nOw on the passage down.
Salamilon at Boston
Bosrox, Nov. 2.s.—lThe Tian.trript of this even
ing announces the suspension of Trull .4 Brothers,
liquor dealers, and largely engaged in the Medi
terranean and Smyrna trade. it is thought the
suspension will be only temporary, the means of
the firm being ample, but not immediately avail.
ibis.
The Hannah More Academy Burned
Baur/noon, Nov. 25.—The Hannah More Fe
male Academy of the Protestant Episcopal Church,
Uoistertown, fifteen miles from .Ballimore, was de
stroyed by fire last night. Tho pupils and other
inmates escaped in safety.
Marine Disaster—nye Men Frozen to Death.
CHICAGO, Nov. 25.—The schooner Antelope,
which left hero last week with a cargo of wheat
fur Oswego, was blown ashore near the mouth of
St. Joseph's river, on the night of the lato gale,
and Captain Budd and four seamen were frozen to
death. The vessel and cargo aro a total loss.
ECM=
BALTIMODE, Nov. 25.—Flour is hoary at 85 25
for Ohio, and 85 for City. Wheat—Supply light;
prices slightly firmer; rod $1.0541.14; whito,
41.10.51.30. Tho latter price is asked for very
choice lots. Corn is lower. Whiskey is lower at
23a240.
Exchange on New Yorie, 1031.
NEW ORLEANS, Nov. 21.—The sales of Cotton
today amount to 8,500 bolos, at irregular prieq,
but principally at 11.1 e for middlings. The ra
eoipts yesterday were 21,000 bolos. Sugar is
quiet at I;as°. Flour is dull. New York Ilay, 17.
Exchango on London, 103a101; bills on Now
York, 081:
Cuteeco, Nov. 21.—Flour luiet. Wheat dull
at 514 Corn steady. Oats hem. Shipments to
Buffalo—No Fleur; 13,000 bushels Wheat. Re
ceipts to-day-1,400 bbls Flour; 78,000 bushels
Wheat; 1,900 bushels Corn.
Oswzoo, Nov;' - 4.—Plour steady. Wheat scarce
and firm. Sales today, 10,000 bush, at 850 for
Chicago Spring, and ODs for Racine, delivered to
boats. Flour 35e to Albany and Troy, by railroad.
No receipts by Lake to-clay. Canal Exports to.
Aix- 7 4,300 bush Wheat, and 42,000 bush Barley.
OuAnnEsroN, Nov. 25.—The Cotton market is
unsettled by the unfavorable advises front Europe.
The sales were 1,000 bales nt 111 rents fur middling
fair.
SAVANNAH, Nov. 2 —Cotton to-day ranges at
llatH cents. Only 180 bales were sold, and Our
market closed irregular.
Auausm, Nov. 25.—Cotton has advanced io to
day.
NEW ORLEANS, Nov. ?o.—Tho etoomer'ii advlces
from the Vanderbilt, off Cape Race, pul?lishod this
morning, caused an advance in the cotton market.
with sales 0f1.3,500 bales. Middlings sold at Ilia
120. Meilsoes 21c. Flour active with a large ox-
Woft inqufry at S 5. Now moos pork $100617..
hiskey 191a200. Sterling exchange firm. Now
York exchange 0 8 / a 99. Freights wore more active.
CINCINNATI, Nov. 25—Hog inaikot dull at $5.50
a 55.60. Receipts inoreacing. Provisions irre
gular. Moss Pork $14a514. - 50. Prime Lard 10
conts, with a dull market. Sugar active; sales of
200 hluls at 8 cents.
FLOUR AND GRAIN AT BALTIMORE.—Tho
Flour markot was dull anti heavy, and in Howard
Street Super we note a decline of 12.10 per bbl.
There were sales at the opening of 'Change of 850
bbls Howard Street Suitor at 0.37 i, and subse
quently wo beard of sales of 150 bbls do at $ 5 4 1. 7
per bbl, at which flow the market closed. There
was nothing done in'ollio Super, but it could prob.
.bly have hoolObught 4t. the close at $5.25 per
hl. Wenot o'of'2so bbis Ohio Extra at $5.75.
For City Mills Super holdeix asked this morning
$5,121 per bbl, cash, but there wore no buyers at
over $5, at which figure sales to a considerable ex
tent could have been made. The price asked for
City Mills Super on time is $5.25 per bbl. Extra
Flour is still quoted at $5.75 for Western, $0n2G.25
for Howard Street, $0.2540.50 for regular shipping
brands City Mills, and m 7 per bbl for choice brands
do. We quote Ryo Flour at $4.04, and Corn Meal
at $3.50 for Baltimore and $2.621 for Brandpvine
Meal.
fIRAIN.—The receipts were light as compared
with those of yesterday. Thorn was, however, a
fair amount at market, the offerings including
20,000 bus wheat, 15,000 bus corn, 800 boa rye, and
5,500 bus oats. IVhoate woro dull, but the sales
were generally made at yesterday's rates. Reda
sold at 105a118o for good to very prime lots, and
whites brought 100a105e for ordinary, 110a112o
for fair, 115a1200 for good, and 125a130e for prime
and choice parcels. Corn is in good demand. and
tho market for It is firm. Now corn, of which the
receipts this morning were mainly composed, sold
at 60450 for both mhito and yellow, and old do
sold at 74a78c for white, and 78a80o for yellow. For
ono or two lots prime old yellow, the latter figure
ores offorcd and &Mined. Ityo is a little lower
One or two lots worn sold to-day at 7110 for Mary
land,' and Ode for Pennsylvania. Oats were in
fair demand and most of the lots offered .sold at
30a320 for' 'Virginia ant ktarylaml, and no for
Pennsylvania.
THE CITY.
ABILMEALtNTS THIS EVENING
WHCATLRY 7 B ARON STREET THEATRE, ARCH MAIM
ABOVE RlXTR.—Aftornoon— H P. P.; or Tho Man and
The Tiger"—" Scan. Mag."—" Out for Tbanksgit log."
Evening—" The Sea of Ice"—" Tho Midnight Watch."
WALNUT STREET THIATAII, N. S. 00BIEB or NINTU
ASO WALNUT BIREBTB.—" The gnehootress.
Tairwe'e Maw HALL, CHEBTAUT EITBEET, BELOW
SiFINTEL—BuckIOy'A Opora Troupe.
•
plavosais TilarrnE, WALNUT BTLEST, NNAR Mart Et.
--.‘ Equestrian Performances' , attornoou and evening.
EANFORIPS OPERA MOEN, ELEVENTH STENET •170Y1
Onsaraur.—Ethloplan Life Illustrated, concluding with
a laughable afterplece.
CONOEST HALL, CHESTNUT ST., ABOVE TWELFTH.-
A Grand Concert."
City Councils.—An adjourned meeting of
City Councils was hold yesterday afternoon, nt
which the following business was transacted :
Sauger Btrnacu.—Petitions fur water pipes, gas
lamps, dco., wore presented, and appropriately re
ferred.
, Mr. Williams presented a petition from sundry
owners of property, asking for the payment of
damages for the opening of Poplar street. Re
ferred.
An invitation was received from the Board of
Managers of the Northern Homo for Friendless
Children, located at Twenty-third and Brown
streets, requesting the attendance of the members
of Council at the institution on Thanksgiving day,
between the hours of three and five P. M. The
invitation), on motion, was accepted.
Stephen Taylor, City Controller, submitted on
estimate of the receipts and expenses of the seve
ral departments for 1859, which have been re
ceived since the 19th instant, the date of his last
report. Referred to the Committee on Finsnee
A communication was received from the Chief
Commissioner of Highways, in answer to the reso
lution of Mr. Cornman, offered at the last meeting,
inquiring by what authority certain turnouts had
been mode by the Philadelphia, Germantown, and
Norristown Railroad Company. The Commissioner
stated that ho had given authority. In conclusion,
ho recommended the passage of a general law on
the subject. The communication was referred to
the Committee on Law.
Mr. Margolis moved to reconsider the question
on the reference of the communication. Ile
wished to have it referred to the Committee on
Highways.
Dir. Mahone thought that as it was a legal
question, it would snore appropriately be referred
to the Committee on Law.
Mr. Gahable and others discussed the question
of reference at much length, and with considerable
spirit; after which the 'notion of Zir. Marsolis was
negatived, and the communication referred to the
Committee on Low.
A communication was then read from Joseph If.
Siddall, Surveyor of the Eighth District, asking
for a repeal of the resoluion of Mr. Nathans,
which bad boon passed at the mooting on the 12th
of November.
. .
On motion of Mr Nathans, tho communication
was laid on the table.
Mr. Mott presented a petition, similar to those
already published, signed by over 200 persons.
asking for relief, lu the shape of the issue of
four millions of city warrants. Referred to the
Joint Special Committee on the subject.
Tho following communication was then read by
Mr. Money 4. Leiecnring, Chief Clerk of Seleot
Council:
..
PHILADELPHIA, November 25, 1857.
To the President and members of Select Council:
GENTLEmEN : Having recently been elected Pro
thonotary of the District Court for the City and
(County of Philadelphia, I most respectfully tender
you }ay reslgnatiou as assistant clerk of Select
Council, to take effect on the 30th instant '
In thus dissolving soy official connection with
your honorable body, I avail myself of the oppfm.
tunity it affords of expressing to onch member my
most grateful thanks for the friendly feelings
manifested towards ate on all occasions, and for the
many acts of kindness of which I have boon the
recipient. Very respectfully, yours, du.
J. P. AICFADDEN.
Mr. Verroo said that the intercourse between
Mr. McFadden and all the members of the Cham
ber had been of the moot courteous and agreeable
character. Ho alluded to the faithful manner in
whioh all the onerous duties of the assistant-clerk
ship had boon discharged by the present incum
bent. He regretted that the official relationship
between Mr. McFadden and the Chamber, produo
tivp as it has been of so much that was really
pleasant and profitable, was about to bo severed by
a withdrdwal of tmportant and yaluable services.
Mr. Verne passed a veryhigli enoonitnm upon the
gentleman who had tendered his resignation.
On motion, the resignation was accepted, and a
rote of thanks tendered to Mr. McFadden for the
ability which characterized the discharge of his
duties, by the unanimous vote of the Chamber.
Mr. Common moved to proceed to the election of
an assistant clerk. Agreed to.
Mr. Nathans nominated Horace M. Martin.
A ballot was thou taken, with the following
result t
Horace 14. Martin 19
fealah H. Fitter 1
Mr. Common voted for Mr. '
Mr. Martin having received a majority of the
votes, was declared duly elected assistant clerk.
The oath of office was than administered to him 0) ,
the president.
Mr. Common presented a olalm of (forge If.
Howell against the pity. Referred to the Commit
too on Claims. Other claims Avers presented, and
likewise referred.
Mr Ashton, from the Committee en Water Works,
presented a report, with a resolution attached,
authorizing a transfer of certain items of appro
priation.
Mr. Roberts thought that this frequent transfer
of Heins of appropriation, without any investiga
tiep, was injurious to the interests of the city.
After a brief discussion, tho resolution was agreed
to.
Mr. Morselis, from the Committee qn the Girard
Estates,
.presented an ordinance providing Tor an
appropriation to pay certain olainis against the
estate. The ordinanco was agreed to.
Mr. Taylor, from tho Committee on Schools, to
whom was referred the application of the Board of
Controllers of the Public Schools for repairs to the
Zane street school, made a report favorable to the
application. A resolution authorizing the repairs,
providing the expense does not exceed $6OO, was
agreed to.
Mr Taylor, from the same committee, ales re
ported a resolution recommending the removal of
priming schools Nos. 3 and 4 from the rooms in
tho Wocenc'ea engino houso to the room over the
Southwark Ball.
Mr. Bradford opposed tho resolution, r.s j
have the effect of bringing the scholars in contact
with persons and scenes of no benefit to them.
After further discussion the resolution was re
jected.
Mr. Nathans, from the special committee to
whom was referred tho subject of certain surveys,
flaked boayo to be continued, which was granted.
Mr. Belden= presented an ordinance appro
priating $30,000 for the payment of the interest on
certain bonds, issued by the bale diariets of tinting
Garden and Northern Libortlea to pay their re
spective subscriptions to the Pennsylvania Rail
road Company.
Mr. Gamble, was gratified at the introduction of
the ordinance, and spoke briefly of its merits.
The bill was passed without discussion.
Mr. Neal submitted the following :
Whereas, By the f a .3d section of the Supplement
of the Consolidation Pet, approved May 13, 18513,
it is made incumbent upon the head of every de
partment to report to the Controller, by the filet
of November of each year, the estimate of the op.
propriations required for his department for the
culling year ;
And whereas, By the 24th section of the same
Supplement, it is enacted that the hood of every
department who shall have made default in the
rendering of any report, shall be guilty of a mis
demeanor, and bo by Councils dismissed from his
office ;
And whereas, It is of the utmost importance that
ovary facility should be given to the Finance Com
ntittoo, to enable It to be prepared to receive the
taxes of the year ltl3B by the first day of Tanuary.
Therefore, Resolved, That the Finance Commit
tee report to Counolls the head 'fir ovary depart
ment who haa made default in rendering hisler d rt,
and is therefore guilty of a misdemeanor, t tut lie
may be dealt with in conformity with t le said
twenty-fourth section.
The resolution was referred to the Committee on
Law.
Messrs. Foster And llorrooks, who wore absent
when the vote for assistant clerk was taken, asked
leave to record their votes. Leave wits granted,
and they voted for Mr. Martin.
Mr. Gamble offered an ordinance, providing for
a transfer of an Dein in the bill of appropriation to
the Department of Market Houses. Agreed to.
Mr. Kline offered a resolution proyilling for the
paving of certain streets tho s Seveptercith ward.
rho resolution was amended by the addition of the
names of other streets mentioned by Messrs. Com
mon and Beideman, after wbteh it was referred to
the Committee on Highways.
The Chamber, on motion, took a recess for ton
minutes.
On re-assembling,a message was received front
Common Council, informing the Select Branch
that they had passed an ordinance to make an
appropriation to pay the interest on certain bonds.
The ordinance tyasepneurred in, and the Chamber
adjourned,
COMMON COCNCIf"—Mr. Ring, of 14 cow ,
mitteo on Legislation, made a report relative to
taxation in the city of Philadelphia. The report
says:
In examining the proposed not they endea
vored to ho governed by its spirit and manifest
object, which le to compel our community to boar
n part of the burden of tho municipal government
proportionate to its ability. To attain that end,
Councils should have tho power of taxing every
decoription of estate, and of obtaining as far as
ossiVe art coutilt 41u1 just valuation thereof.
It was not thought judicious at this time to make
any clang,' with rogslrd to the assessors, and the
not herewith reported propocos none.
The first tnotion of the act as reported provides
for tho payment by the city yearly to the Step
an ascertained sum, which shall ho received as a
full Equivalent for tho tax now Imposed within
said city upon real and personal property, sala
ries and emoluments of otiioo, and trades, oocupa
tines and professions. Tho price of licenses and
commissions '
and collateral Inheritance tax not to
In included in that sum, but to ho paid to tho
State as heretofore; and this for two reasons—first,
because the method adopted by ate State of clas
sifying vendors of morchandiso is as equitable a
ono, as would, in all probability, bo established by
Councils, but more especially for the reason that it is
not necessary in securing the main advantages to Ito
Sained by counnunicattng with the State. The
tate tax is bated upon the valuation mode by the
wartisnd township assessors. ThiaV.s led them into
a practico of rating ttaxablo property below
fairvaitte, so that this burdens of Stato taxatiofi
may rest as lightly as possible upon thoir'parti
cuter cities or counties. Ibis custom of assessing
has necessarily resulted in groat inequality in the
valuation of property, for when an assessor is not
governed by the aotual value of tho property, ho
13 without a standard by which to assess it; there
fore the valuation of property in the various wards
of the same city differs, as does the honesty of In
tention and the discretion of their respective as
sosoors. The inflexible rule should ho to value
property at its full and fair cash value.
But with the present manner of lovying State
tax, if wo should conTorm to such a rule, we would
pay much more than our just propoitiop of the
State expenses. The design of this soctil,n is ;it
enable us, by having a fixed standard of valua•
Hon, fairly and equally to value property . which/ is
to be tend, anti to have but one tax levied iu the
city, the rate of which to be fixed, and the taxa
ble property designated hy ,Counoils.
It is difficult to fix an amount to by pfdd in lieu
of the sum now raised by taxation, which will Ilp
fair to the city and dust to the State. Your com
mittee have been governed by the receipts of the
poet year, making an allowance fur the difference
between the rate of last year and that of next
year. Tho amount of State tax of 1850, collected
up to this time ' is $152,132.72. The rate last year
was thirty cents upon tho hundred dollars, which
hae been reduced twenty-Elvo oats on the hundred
dollars, but this redaction is not made upon taxes
levied for this year.
The valuation of the real estate of the city of Phi
ladelphia is 5145,005,885 00
Two and a half mills on the dollar
on the Name will produce 342,739 71
The State tax levied on the personal
property mentioned in said let Sec
tion, amounts to 71,195 44
Making the whole amount of State tax
of the city of Philadelphia at the
rate 21 relllson the dollar 433,934 15
Tho amount to be paid the State, as
proposed by this bill 8100,000 00
Leering an allowance for uncolleotable
taxes, de 533,930 15
At this time the uncollected State tax of 1850
is over $53,000 low much of that amount will yet
be collected, youroommittoo are unable to say.
Councils hays now before them the information
by which the Committee wore governed in fixing
the earn they herewith report, by which Councils
can judge of its correctness and justness.
The second sootion of the bill as reported,
containing the most comprehensive and general
terms, will give to the city government the largest
power of taxation, by virtue of which every con
ceivable right or estate can bo made the subject
of taxation. It also gives to Councils the power to
prescribe the method by which everything taxa.
hlo shall be valued, and the taxes thereon col
lected.
The section does not give greater power than a
municipal government should possess, nor does it
interfere with tiny right or prerogative of the State
government. As our citizens make and change
the municipal government, this section but gives
them the control of their own affairs. It is Anne
comary to discuss, in this report, the propriety of
taxing personal estate—the proposed law only
gives the right, but does not compel it. Tho last
section of the bill gives the city government the
power of assessing a poll-tax upon every taxable
inhabitant, not exceeding Si a year. The object in
designating it a State and county tax is to compel,
under the penalty of deprivation of the right of an
elector, the payment of at least ono dollar in two
years towards the support of the government. It
would seem just that every voter should pay a
personal tax each year to entitle him to vote, but
tho Constitution of the State gives him that right
upon the payment of a State or county tax within
two years.
Your committee recommend the adoption of the
accompanying resolutions.
llvsny Mx°, Chairman.
ANDREW MILLER.
Glo. WILLIAMS.
Relolred, By the Select and Common Councils
of the city of Philadelphia, That they hereby make
appliOnant.,l3ollvtao. efoGethe neral
l A or s s i o n m a bld
r o t f m t r h
g S i t s el c
of
thin relative to taxation within the city of Phila.
delphia,
An act relative to taxation within the city of Phi
ladeiphia
Sec. I. Be it enacted, &e. That the treasurer
of the city of Philadelphia shall pay, on or before
the first day of July, 1859, and in each year there
after, into the treasury of the State, the stun of
four hundred thousand dollars, which said sum,
when paid, shall be a full equivalent for the State
tax Imposed upon real and personal estate within
the said city by the thirty-second and thirty-fourth
sections of the not of the 29th of April, 1844, en
titled 4 . An act to reduce the Slate debt, and to in
corporate the Pennsylvania Canal and Railroad
Company," and reduced to two and a half mills on
the dollar by the eighty-sixth section of the act of
the 18th May, 1857, entitled '• An net to provide
for the ordinary expenses of government, the re
pairs of public canals and railroads, and the gene
ral and special appropriations."
Site. 2. That the Select and Common Councils
shall have full power and authority, and they are
hereby tit:abed:ad to taxi, within the limits or said
pity, all rights, interests, estates and things, be
they corporate or incorporate, real, personal, or
mixed, which aro not specially exempt from taxa
tion for city purposes by the laws of this State;
and to prescribe the manner Bud method in and
by which the same shall be valued and the tax
thereon assessed, levied, and raised.
See, 3. The said City Council shall have power
to levy a poll-tax upon every taxable inhabitant of
said city, to bo designated a State and County tax,
which must be paid within two years, to entitle
him to enjoy the rights of an elector, provided the
whole of said poll-tax assessed in one year upon
any inhabitant shall not exceed ono dollar.
The report was ordered to be printed for the use
of the members.
Mr. Faulkner said that at the last mooting of
Councils, ho voted negatively upon tho ordinaneo
to day tho inte'rest op the city loans, by
lie !pored that they proceed to the re-considera
tion of the ordinance.
Mr. fitevene obiooted to the course, as he thought
it out or order.
Mr. Clark contended that this was an adjourned
meeting, and that the motion was in order.
Mr. Stevenson again contended that the ques
tion was not in order.
Mr. Miller.—Wo might as well let the matter
pass, as it is evident that we aro to he sold to the
Pennsylvania Railroad Company, and we might as
well do it first as last.
Sr. Stevenson.;—l don't believe it. (Laugh.)
Tho pheir decided the question in order.
The yens and nays webs called on the question
" to reconsidor" the question, and it was agreed to
by the following vote
YEAfi—Mossrs. Arnold, Baird, Bayer, Boyle,
Bromley, Burnell, Burns. Butcher, Crease, Day,
Dougherty, Drayton, Faulkner, Ford, Fry, Gin
nodo, Hacker, Handy, Holman, Ilutchinson, Kol
ler, King, Mascher, Molloy, Moyer, McFadden,
Mollwain, WNW!, Palethorp, Parker, Potts, Steel,
Taylor, Tudor, Vanliorn, Warnock. Wildey, Wit-
Hams, Wolf, John Miller, (President)-39.
NAYS—Messrs. Alexander, Austin, Black, Coop
er, Deal, Hall, hominger, Jones, Makine, Miller,
A., McClean, MoMakin, Shaoh, Sites, Stevenson,
Thompson, J., Waterman, Wilmer-19.
Mr. Stevenson said that sinoe the last meeting
of Councils thorn had boon some "ground andlofty
lumhling." It was not presumed that the mem
bers of Councils would resist tbe influence of the
Pennsylvania Railroad Company—a gigantic cor
poration, with an assumed oapital of thirty millions
of dollars. no gave a history of the manner in
which the subscription of those bonds had been
made by the Northern Liberties and Spring Gar
den.
Mr. Miller opposed the bill. He had heard of
no protest on those claims. If this olaim was n
just ono the parties should resort to the courts.
13ut they do not do this. They daro not, because
if they did they would be kicked out. These
bondholders know a trick worth two of this. They
go from door to door of the members of Councils,
and beg of them to vote for the ordinance. If
this claim is paid it will be an outrage upon the
tax-payore—lt will be done in defiance of law—
in defianco of equity, and In defiance of every
principle of common justice. If this amount is
paid it will be a donation to the Pennsylvaniaßail
road Company.
Mr. Hooker was surprised at the course this a
bate had taken. Ho denial the allegation made,
that the Northern Liberties never intended to pay
the interest on them bonds. Ho argued that the
credit of theso districts was only loaned to his
Company, and the city was bound - to pay this in
terest IM this amount, 6510,000 aro bald abroad,
and parties hero aro holding the coupons for the
collection of the Interest. Ho contended that the
city had always paid the interest.
Mr. Holman said when he first heard of this or
dinanco ho was opposed to it, but upon making ex
tensive inquiryof the City Solicitor and others, he
was satisfied that the city was bound to pay this
Interest. Ile wee satisfied that the refusal to pay
It would be setting the law at defiance, and par.
suing a course contrary to the wishes of their con
stituency. This aubsoription was scoured by
throwing dust in the eyes of the commissioners of
that district. Ho had not seen any of the bond
holders, or any of the directors of tho Pennsylvania
Railroad Company, but should veto for the bill,
because the pity could not escape from it. He
gave a painful account of the daily attendance at
tho Girard Bank of the holders of the city warrants,
who are unable to got their money.
Mr. Wilmer said there appeared an eager dosiro
to pay this interest. He had always boon in favor
of
payinc it, but thought this was not the time to
Mr. it
Mr. iiing said that our connection with the
railroad' companies had - always been a source of
trouble. Last ydar, when this Stock was up to 44,
there was a disposition on the part of many mem
bers to exchange it for the loans of the city. But
this was not done Among those who voted to in
definitely postpone this subject, was Mr. Steven
hos, of the Eleventh ward. This course has en
tailed upon tho city a loss of $.:100,000. He
thought the sooner they cut lan° from these com
panies the better. Tho city owns the stock of the
Pennsylvania Railroad Company; they purchased
it and gave their bonds in payment for it. Why
then should the city not pay the interest on those
bonds I •
Mr. prayton said the opponents of the bill ar
gued unfairly that tilers) we, an agreement be
tween the Pennsylvania Railroad fiomPopy and
these districts, that the former was to pay the in
terest. No such contracts have boon produced,
and ho believed that no such contrad ever existed.
In the absence of such a (imminent it was their
duty to pay the interest. Re contended that there
was nothing in these bonds to show that the Pennsyl
vania Railroad Company was liable for the interest.
The allegation that the Pennsylvania Railroad
Company had boon tampering with the members
Of that body was untruo as far as he is concerned.
As hon6t men they you'd pot look at these bonds
and refuse to pay tho interest. Ho hoped they
would stand no longer in the light: of dejhulter,
and repudiators lie defended the press fur thp
course they had pursuLd on this question.
Mr. Stevenson answered Mr. Drayton. Me al
leged that if the Angel Gabriel should come down
and advocate this claim of the Pennsylvania Rail.
road Company, ho would oppose him—ho would
fight him as friendly as he does the chairman or
our finance committee. Ito thought coupon bonds
wore created fur two purposes—ono to accommo
date the foreign bond-holder, and the other to ae.
cocaine:late bankrupts. Ito contended at much
lag* that the prmmlyania Railroad Company
we, liable for' the iliterest
Mr. O'Neill said, it appears to me that cno.half
of pur time in Councils is spent to setiify the world
that the city of Philadelphia is a corporation o r
" rogues," who Would devise moans to cheat their
creditors out of their just demands by throwing
every obstacle in their way of recovering their
money. We refuse to pay interest on our debts ;
wo draw warrants on our treasurer, who has not
ono cent to meet a draft.
In relation to the ordlnaneo under oonsidora•
tion, I view it as a business transaction, a party
giving his bond under his hand and seal coeds
tioned for the payment of a sum at a future day,
with interest half yearly to A and his heirs and
asqigns.
no person to whom the bond is assigned has a
right hi recoverof the grantor, no matter what was
She private undeistanding between the parties
prior to the delivery is theliond. 41. contraet be
tween the parties at the time the bond was given
shall not (injure the aasignea who is ignorameof
secret agreelnent between the grantor and grantee.
Now the only question to determine is, were these
bonds legally Issued 1
We aro in law bound to pay this interest. The
argument of the gentleman front the Claventh
ward (Stevenson) is the boat evidence urged in
Councils' that no should pay the interest. Ito
said it was agreed that the city was to receive the
dividend on the stock in payment of which these
bonds wore given, and that up to this time wo
have received eight per cent. on the stock. Out
of this eight per cent. wo paid the bondholders six
per sent.; and pN;set;vl the two per cent. New
when the Rhilroad Thimpany has ra;lati, wo are
bound to pay the interest. Tho oily hint- this
stook—it was a stook-jobbing speculation, and she
is bound to pay the interest on the bonds with
which she purchased the stock. I will never con
gont to repudiation.
Mr. King said most of ty subscriptions by cor
porntiohs to railioads had been made by decep
tion, and he was gratified that a proviso was about
to be toads in the Constitution to forbid them
horoartor. Ito could not see how the city could
escape &emptying the interest.
Mr. //author too* to postpone the bill for the
present, and to take up one of a similar character,
as passed by tho Select Branch.
After some debate, the Motion was withdrawn.
Mr. Miller again spoke at length in opposition
to the ordinance. lie contended that this bill was
only taking a burden from the l'ennsyltaniaßail
road Company, through the influence of the Vico
President and Solicitor, who are members of select
Council.
Mr. Miuteher called for the previous question,
which was sustained.
The question then recurring "shall the main
question be put ?" it was agreed VI.
The yeas and nays were demanded on the first
stollen by Messrs. Miller and Parker, and being
ordered, were as follows
YEAS—Messrs. Baird, Boyer, Brown, Burnell,
Burns, Buteher, Cooper, Crease, Day, Dougherty,
Drayton, Faulkner, Ford, Fry, Ginned°, Backer,
Bandy, Kenney, Holman, Hutchinson, Kano,
Kerr, King, Kneass, Mang, Maseher, Molloy,
Meyer, McFadden, Meilvain ' O'Neill, Palethorp.
Parker, l'erkins, Potts, Steel, Thompson, (Oscar)
Vanhorn, Warnock, Wildey, Williams, Wolf,
Wright, Miller, (John) president—it.
NAl3 — Messrs. Austin, Barnwell, Black, Brom
loy. Dual, Filler, Hall, Iseminger, Jones, Keller,
Making, Miller, (Andrew) McClean, MeMakin,
Shoch, Sites, Stevenson, Taylor, Thompson, (John)
Tudor, 1) ilmer-22.
The first section was &elated as agreed to.
Mr. Wilmer mooed to amend, that the interest
be paid on the - Ist of January, which gave rise to a
lengthy debate between Messrs. Miller, Mrseher,
Drayton, Miller, Knows, and others.
• . • .
Mr. Kneass administered to Mr. Miller a rebuico
which be will not soon forget.
The hill then passed a final reading by a cote of
93 to 19.
Mr. Holt:ter presented the following petition
from a largo number of [ho property owners of the
Nlnotoenth ward :
To Mc Pcesident of the Select and Common
Council.
In view of the unprecedented number of work
ing-men out of employment in the Nineteenth
ward—men, too, who are willing to work but who
are unable to find employment of any kind—the
rapid approach to a gloomy winter prompts us as
a last effort, to solicit your honorable bodies to
forthwith authorize the commencement of the con
templated culverts in the various parts of the city,
and more especially the continuance of one in our
own ward, commencing at Norris street, thence up
Clinton street, through Norris square to Susque
hanna avenue, for the property-owners are ready
and willing to ay their proportion. Furthermore,
to commence the grading of mush streets se your
honorable body think may be required, and we
will ever pray.
Referred to the special committee on the sub:
ject.
Mr. Drayton, from the Committee of Finance,
reported a resolution transferring& certain item in
the appropriation made to the county prison.
Agreed to.
A report from the tame committee was sub
mitted, on the present embarrawnent of monetary
affairs, and recommending a loan to pay claims
and to sustain the credit of the pity. Ordinance
Was ordered to be trinted.
Mr. Andrew Miller, from the Committee on
Highways, reported a resolution in favor of grading
Girard avenue, west of the bridge, to the Marion
plank road and Clinton street, in the Tenth ward.
Agreed to
Mr. Alexander, from Committee on Gas, sub
mitted a report asking for an appropriation of
$230,000 to defray the expenses of lighting the
city during the year 1858, for the payment and
erection of new lamps, repairs. he. Referred to
Committee on Finance.
Mr. O'Neill submitted a report from the Police
Committee, fixing the salary of the Chief and tho
Clerk of the Police Department. Salary far the
Chief, 1t,1,50q, ; Clerk, $7OO.
The item respecting the Clerk was stricken out,
as the duty is now performed by a police officer
at $5OO per year. The ordinance was adopted as
amended.
Mr. O'Neill, from the same committee, reported
resolutions that no further legislation was neces
sary relative to the regulation of the selling of
broad by weight, and that the Committee on Mar
kets be instructed to divide the city into dis
tricts, and that the clerks of the markets be in
structed to enforce the law or resign. Post
poned.
There being no quorum, Council adjourned.
.another Destructive Fire.—Yesterday morn
ing, between four and five o'clock, a fire broke out
in the upper portion of a three-story back building
on the southeast corner of Ridge avenue and Wal
lace streets, in the Vorateentla ward. Thu flames
were communicated to the roofs of two adjoining
buildings. Tho house on the corner was occupied
by N. that's Co., batters, on the first floor, and
the upper stories were used for a boarding house.
No. )327, next below the corner, was occupied
as en ice cream and oyster saloon.
No. 1925 was occupied by Mr. Robert Crawrtird,
as a millinery store and dwelling. The loss here
was principally by water, although the building
was unroofed.
Tho origin of the fire is attributed to accident.
Mr. Welch and some of the boarders worked at
shoemaking in the garret of the house they occu
pied. About 11 o'clock on Tuesday night, they
filled a fluid lamp while it was burning, but not
withstanding every care to prevent accident, the
fluid ignited, and the lamp was thrown all bias
in; upon the floor. The fire was smothered out,
and to malts 'assurance doubly sure, water iras
poured over the floor, and all was thought to he
safe. lletwoen four and five o'clock yesterday
morning, a Miss McCormick, who was sleeping in
the third story, was aroused by the crackling of
fire, and before she was aware that the building
was in flames,
the fire was dropping upon her bed.
Mr. Welch was very badly burned about the
face and hands, It is thought the fire originated
from the blazing fluid working its way under the
wash-board and into the studding of a partition,
where it slumbered until its discovery in the morn
ing. The weather was very cob!, and the firemen,
and the persons who were turned out of their
homes, suffered much from this cause. A fresh
wind from the northwest was blowing at the time
of the fire.
Estimated Receipts and Expenses of the
Government for the Year 1858.—The following
table exhibits the estimates of the receipts and
expenses, as far as received, of the several de
partments of the city, as furnished to the City
Controller, for the your 18,18:
Total Total!Bills due
Departments. Receipts Expenses 11857 and
1858. 1858. previous
Police .... .... ....
11Ighways 24,550 00 390,700 00 ....
City Commissioners. .... 163,466 32 ....
City Property 19,697 72 64 246 03 1.212 10
City Controller .... 14.350 00 .29 43
City Treasurer 371,800 00 1,351.029 26 ...•
Supplying Water.— 478,000 00 171,010 00 309 00
Market Mouses 71,205 75 13,683 70 ....
Wharves and Lantrgs 50,491 00 6.783 17 ....
Receiver of Taxes... .... 21,800 (0) ....
Surveys
Law 30,000 CO 16,960 00 ....
Fire
Clerks of Councils...
Cont'r Pub. Schools. .... .... ....
Board of Stealth - .... .... ....
Guard'ne of the Poor .... .... ....
4 napoctors of Prima. 66,569 50
TrirstiCity /no That 6,334 00 12,4i5 00 ....
Girard Trust (Sep't) 7,52.3 91 6.499 01 ....
Superintendent of
Trusts (C. Oat) .. 7.623 29 6.019 60 ....
Com're Sinking Fund .... 159,079 00 ....
The Ball of the Assistance Engine Company.
—Ono of the cosiest yet most brilliant balls at
which our nether extremities ever vibrated to the
melody of sweet music, was that given at the now
hall of the National Guards, on Monday night, by
the Assistance Engine Company, of this city. So
far as lovely women, picturesque costumes, joyous
hearts, and inspiriting surroundings could render
an occasion "a thing of beauty," this ball was
everything that could be desired. The piesence
of delegations from tho Pasant° Engine Company,
of Paterson, and' the Delaware, of Trenton, New
Jersey, contributed, in a great measure, to heighten
tho enjoyment of the company. At an hour when
the dancers were growing weary, an agreeable
little surprise was offered to the invited guests in
the shape of a capital collation, among the consti
tuents of which sundry baskets of wino formed a
most grateful feature. Over all presided Major
Peter Fritz, the announcement of whose name is
the invariable preface to "a feast of reason and
flow of tout." Tho company dispersed only when
the paling stars Indicated the approaching adyent
of another day,
Arrest of a Shoplifter.—Yestorday morning,
a man giving his name first as John Davis, next
as John Wilson, and lastly. as "more than I can
toll," was arrested for stealing sundry small arti
cles from the counter of the jobbing house of
Messrs. Dunton k Ninesteet, at Second and Mar
ket streets. He had a travelling bag with him,
into which ho thrust the articles as ho took them.
The bag contained elastic waist belts, dagnerreo
typo eases, portmonnaies, gloves, watch crystals,
gold rings, business cards, vietorines, and cuffs.
When ho apeared before Alderman Eneu, at
one ho hod t9rn up his coat and shirt, and
appeared to be ininkne. When tho aliiatman urged
upon him to givp his name be burst into tears, and
said that he would not disgrace his family by giv
ing it. He threatened to tear up all his clothing
if ho did not got work. He had been tol , few York,
and had come to the city on Tuesday. He states
that he was formerly in the employ of Rogers,
,k Franey, in Market street, as porter. The
alderman committed him for a further hearing.
Temperance Movements.—Tho first of a
series'of meetings. under the direction of the Sons
of Temperance, will be held this (Thanksgiving)
afternoon, at Concert
Tho Grand Section of the Cadets of Temperance
has closed its annual session. The following era.
cars have bean cleated to servo during the en.
suing year; Grand Patron, Win, Davis; O. V. P.,
Charles Massey; Graad Secretary, D. E. Den
nison; Grand Treasurer. W. Seddinger; 0. G.,
J. McClelland; Grand Chaplain, J. Schaffer; G.
W., W. Rood.
Considerable interest has been evinced in the
youth of our city and State. Now applications
fur charters have been granted. The constitution
has been revised apd improved. New forms and
ceremonies La:a been adopted, and alto a new
style Of regalid. " '
Thanksgiving Day at "The Northern Home."
—Every one interested ip the care taken of the
hundreds of friepdles.s children that are picked
up from the highways and byways of our city and
sent to the isorthorn home, will be gratified to
learn that the managers have kindly contributed
the Cl ettrraB for a " Thanksgiving dinner " for
the ono hundred and twenty little bop and girls
now under their control. The community gene
rally aro Invited to be present this afternoon.
front three to five o'clock, when interesting once-
Ci3o9, by the children, will take place. The Home
is in front of the House of Refuge, at Brown and
Twenty-third streets.
Steamboat Burnt.—The steamboat Oscar
Thonmson, attached to the Gloucester Point Ferry
Compaity, ,One burnt to the water's edge, about II
o'clock yestefilq Suo;tlng,'whtle lying, at a idol
at Gloucester Point. This boat was formerly the
Icent, end ran lAtween this city and Dover, Dela
ware, and intermediate places. Several years
sines, it was sold by Colonel Charles Render to
several gentlemen, slime which time it was rebuilt,
and was perhaps the slowest steamer on the Pete
scare. She is estimated to be worth $7,000 or
$B,OOO, and we understand that the loss is covered
by insurance. The fire is attributed to accident.
Ire advise those who are fond of music, and
wish to spend a happy thanksgit ing everting, to at
tend the grand concert of the Choir of the German
Lutheran Church of "Zion," at the corner of Fourth
and Cheiry streets, this evening at •iI o'clock.
The choir h ill be assisted by Professor Rohr and
Madame Leibing. Professor Enna will president
the organ, and a grand musical entertainment may
be expcoted. -
Switifn Death.—Coroner Fenner was notified
last evoning 'to hold an' impleat on the body of a
man named illiehaifi Campbell, whit died'arfildhnly
at Mrs. rtaulan'sheuse,Sontb street, below Soren
tcenth,
- TID MONBY MAf~E?:
PHILAiELPRIA, NOT. 23,195;
In our article of yesterday we foreshadowed the
results of the evidently growing uneasiness of Go
people as to the banks in England, and before ear
paper wont to press our forebodings of Anther
trouble were realised in the telegram of English
news by the Vanderbilt. We have no faith what
ever in any permanent relief to result from in
over-issue of notes; but the blunderintgr' )od faith
and blind confidence of John Bull is proverbial,
and if he only believes that a deluge of one-pound
notes will save the country, whether that bank
can redeem them or not, perhaps be will be
mired of his fright, and thus the panic will be
ended, on homoeopathic principles, bye little more
of the cause that produced it originally—too ranch
paper currency. To those who have regarded the
patient acquiescence of the British nation 2.11 the
ruinous and contradictory measures of the Govern
ment and the Bank of England during, this cen
tury, neither this nor any other exhibition of cre
dulity will occasion sarpri.•e. As instances of some
of these arbitrary exactions, we may state that
the laws aro on record by which it was ordained
that notes of the Bank of England should not,
by any means, be received or paid "tor leo
than the amount of lawful money expressed
therein, under a penalty of being adjudg
ed guilty of a misdemeanor; and that the cur
rent gold coin should not be received or paid
for more than the true lawful value. A man named
De Tonga was actually tried at the Old Bailey, in
12, for %misdemeanor in selling the current coin
of the realm for more than its legal value. It ap
peared, on the trial, that he had told guineas of
standard weight, as lieht coin, at 2-18. dd. each
Guineas, which by law were worth only Ne., were
sent to the Continent and sold at 295. each, and the
Bank of England itself, having on hand a large
quantity of Spanish dollars which would tot eima
late, obtained Government permission to stamp a
small head of George 111 upon that of Ferdinand
of Spain, and to issue them at 6s. 6d. each; a pro.
oeeding which gave rise to-many effusions In the
style of the modern Punch. We give a specimen—,
" The bank, {o make dollars in currene7Piat,
Stamp the head of a fool ea jhe neck of eta us).
The Gosertior of the Bank of England testiSed
en oath, to a committee of the House of Commons,
that be " could not sea how the amount of bank
notes could operate upon the price of bullion or the
state of the exchanges; and be was therefore of
the opinion that the price of bullion, or the state
of the exchanges could never be a reams) for les
sening the amount of bunk notes to be issued."
- .
We fear that a considerable time will elapse be
fore the result of the increased paper issue in
England will be known, though we have not the
slightest doubt that, if our own banking system b
at once reformed, with a view to the reduction of
the circulation, and the total exclusion of small
bills, we shall be gainers to an incredible degree
by this unsound movement to obtain temporary re
lief in England. Gold will go wherever it is most
valuable, and just u we drove it out of eireulation
in America, by over issues of paper, so will it be
driven from England. As the basis of healthy
trade, and the justification for enterprise and en
larged business, we should use every means to in
vite it to our shores; and the surest way to do this
is to abolish paper•money, except, perhaps, in
large notes for convenient remittance.
The stock transactions of the day show that the
operators either regard the news as favorable to
American enterprise and trade, or are so deter
mined upon forcing up the prices of stooks that
nothing shall damp their ardor. Almost every
kind of security improved in price, and the till-M
-uttons were quite considerable in amyl:tot,
The money market continues to work gradually
easier, notwithstanding the report of the shipment
of a million and a half of gold by the steamship
Asia today An Liverpool. •
The first effect of the Vanderbilt's news upon the
moneyed interests in this country will probably be
to cause the New York banks, and all Whose action
depends on theirs, to defer the resumption of spe
cie payments until the foreign exchanges and
financial aralra abroad become settled, and the
course of money matters generally, under this new
complication, is somewhat clearly defined.
As a matter of curiosity, we publish the follow
ing compilation of the history of the Bank of Eng
land troubles in 1825, when the one-pound notes
were re-issued as a last resort to avert total suspen
sion:
Soon after the passage of what was called Peel's
bill, in 4819, which provided for the gradual re—
sumption of specie payments by the Bank of Frig
land, (suspended since 179 T,) the bank began to
accumulate their stock of gold, which at one time
amounted to the enormous sum of £20,000,000.
Final resumption took place on the Ist of May,
1823. In February, 1325, the specie was reduced
in amount to £8,857,000, and by the end of that
year. while the circulation was £20,000,000, the
means held by the bank for its payment in specie
consisted of only .£.128,000 in coin, and £.001,000
in bullion.
It is beyond the power of words todeseribe the
general consternation of the metropolis at this
period. No event ever gave so great a blow both
to trade and public credit as this crisis. An nub
versal bankruptcy was expected. The stop - pip
of every banking house inlondon was looked for;
and the whole city was panie-struek. Confidence,
and credit were entirely suspended.
One of the largest Northern country banks was
first to give way to the general pressure; and the
alarm, once excited, soon became general all over
the kingdom. In six weeks seventy banking
establishments were destroyed, notwithstanding
the very large advances made by the Bank of
England. and the run upon the bank for cash to
supply the wants of the country banks was so
heavy, that, to save itself from absolute failure, it
had recourse, with the consent of the Government,
to an issue of one-pound notes, amounting to
upwards of one million.
The bank asked for an order in Council to re
strain the payment in gold, but thfis the Oovern
ment resisted from first to last.
The issue of the one-pound notes (the lowest de
nomination put out by the banks for over thirty years
bad been .f. 5) gave relief in this manner. The
public received them in exchange for those of the
provincial bankers, and thus the demand for bul
lion from the country ceased, while the city hold
ers of £5 notes received in exchange, whoa they
presented them for payment, five .C.l notes, which
satisfied them to same extent for the moincht, and
the easing off of the country demand assisted (hi
bank in meeting the city demand for specie until
the force of the panic began to subside. Daring
this period, which lasted but a few weeks, the
Bank of England sustained a law in the repur
chase efbullion to the amount of half a million of
dollars.
The testimony of Mr. Richards, the Deputy
Governor of the Bank, to the Committee of the
House of Commons, a few months afterwards, is
worth quoting even now.
It will be remembered that a published table
of the schemes and bubbles projected in 1824,
showed their number to have been 243, with
proposed capital to the amount of 51,240.000,000,
on which the sum actually paid up was $215,313,
000, and the balance due at the close of 1825 was
$784.657,000. However this statement may
astonish dupes and speculators, it is not exag
gerated :
Mr. Richards says, a That in the autumn of
1825 tho bank began very seriously to contemplate
what would be the result of the speculations and
of various circumstances that were going forward.
That increased in October and November, when
there continued to lie a 'Very: great demand tior
gold, and advanced down to the first Saturday in
December. Not only the bank, but every man's
mind connected with the city, was in an extreme
state of excitement and alarm. I recollect on the
first Saturday in December, having come home
after a very weary and anxious day at the bank,
receiving a visit from two members of this com
mittee and one of our bankers, at my own house,
stating a difficulty in which a banking house (Pole
&Co ) near to the bank was placed. They had
gone so far as to take care of the clearing of that
house that evening, so that it tnisht fulfil its en
gagements, and the object of their visit was_to
ascertain what would be my views oapon the
subject. I was called uprna because the
Verner was particularly 'eonneeted 'with tto
bouso of Polo & Co. by marriage, and other cif.
curnstances of relationship. After speaking upon
the subject for some time, I ventured to encourage
these gentlemen to hope that, upon anything like
a fair statement, the bank would not let this con
corn fall through. It was agreed that, on the fol
lowing morning, (Sunday,) the three gentlemen
who had called upon me should meet as many
directors as I could get together, at the house of
one of the committee, and that. in the mean time,
some eminent merchants, friends of the hawse,.
Amid also be called to the meeting, to assist with
their opinion.
We so met, and after hearing all the facts. which
were collected in the first instance by the bankers
and the merchants present, the directors authorized
I their chairman to say that assistance should not
be wanting. It was agreed that £300,050 should
be placed at the disposal of Pole S Co. the
next morning, for which the bank was to receive,
and did receive, as securities, a number of bills of
exchange and notes of hand and, over and above,
a mortgage of Sir Peter Pole s property, which was
to ride over the whole. They fought it through
till Thursday or Friday pretty manfully,
wad •up to Saturday evening, when their
position was snob that withoat the tssistance
of the same eminent individuels'wdo had 'taken
part before. the clearing would not have gone
right. Sunday palled, and on Monday tuonang
I the storm began, and till Saturday night it raged
with an intensity that it is impossible for me to de
n
Ou Saturday night it had somewhat abated.
The Bank had taken a firm and deliberate resolu
tion to make common cause with the country, as
far as their efforts would go. In the following
week chines began to get a little more steady; and
by the 24th, what with the cne-pound notes which
11t1 gone out, and other things, people began to be
satisfied; and then it was, for the first time for a
fortnight. that those who had been busied in that
terrible scene could recollect that they bad fami
lies who had some claim upon their attention. It
happened to me not to see my children for that
The Lehigh Coal and Navigation Company bare
declared a dividend of three per eeht, e 4 9 ,11 t 9
$1 50 per share.
An exchange paper mentions seeing the largest
check this morning that has ever been suet with
in its Wall-street experience. It was for $1.320,-
485.30, drawn by the New York Life snd Trust
Company, and certified by the Bank of America,
payable in current funds, to the order of J. A.
Palmer, receiver of the North American Trust and
Banking Company. It represents the means of
that bankrupt institution. which have been paid
into the Trust Company, principally in small
eums, during the last seventeen years, and have
peen cecumulating at compound interest during
that time; - until Lae Anal disposition of the law
proceedings has enabled the receiver to draw oat
the amount, to pay the sums over to the rightful
Owners.
Tbe provision brokers of Baltimore have agreesl
to form an exchange for their own egipediel 4441
liAd those iptereated ill the trade,