The Greensborough patriot [December 20, 1860]

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IS
BT SHERWOOD & LONG. & jFamtlp Netospaper—IBeboteii to literature, &grieulturr, ittanufaetures, Commerce, ano JHisccllancous Kraoing. TERMS-$2.00 IN ADTANCB.
VOL. XXII. GREENSBOBOTJGH, 1ST. C, DECEMBER 20, I860. NO. 1,118.
The LrecnsboTough Patriot.
jHEBWOOD. JAMES A. LOSO.
• HKHWOOD & LONG,
EDITORS AND PROPRIETORS.
ff&nS: Vi.OO A YEAR, 1ST ADVANCE.
Hits (IF ADVERTISING IN THE PATRIOT.
per Bquare for the first week, and twenty-
: i very week thereafter. TWELVK LINES OB
. a square Deductions made in furor ot
- : isttei as follows:
3 MOUTHS. 6 MONTHS. 1 TEAB
$3 50 $6 50 $8 00
700 1000 1400
10 00 15 00 20 00
•
BUSINESS CAROS.
„v ITLi:V. OKOCER AND COMMISSION
j MERCHANT, r'ayetteville. N. C. 100-ly
|i1l> E. TllO.tl having turned his attention
J ' HOUSE AND SIGN PAINTING, respectfully
67 tf
I
public patronage.
rnsboroagh, October, 1851*.
I>. .ni'EKS.C'ommlNMlom >ltrtliuut,
OLH eonm WHARF.
ftetvbern, W. C,
giro prompt attention 'o all business entrusted to
December 16. 1859. lypd
xil-Xl.l', Manufacturer ot LADIES' FINE
, SHOES, BOOTS AND GAITKRS. which he
• wholesale and retail, Thom::sviIle, Davidson
N C.
lor shoes by the quantity promptly attended
82
Suspension or the Banks—Correapon-dencc.
NASHVILLE, NOV. 26,18«0.
To the Presidents of the Rank of Tennssee,
Planter's and XJnion Banks .-
GENTLEMEN : Herewith please find a letter
addressed to VV. A. Huarles, Esq., Supervisor
of Hanks, signed by a number of merchants
and citizens, together with his answer to tbo
same.
This correspondence in reference to a sus-pension
of specie payment by , our respective
Hanks will speak for itself. We O' ly ask your
early attention to the same, and that consid-eration
whichthe importance of the subject
demands. Yours, respectfully,
G. W. CUNNINGHAM,
T. ANDERSON,
On behalf of Merchants and Citizons.
J. MOOKE, Formerly of f'tokes county N.
j|, C.witb M FAKI.AND. TATM\N&CO.. Im-tnd
wholesale dealers in FOREIGN and DO-
■ l!i DRY GOODS,No. J47 Market Street and 234
A 'cy. between Second an<l Third Streets
v rarland. I PHILADELPHIA. (, H Berghause/.
Tatman. ( jan20-*in ( J R C Ol.lham
■ 011% Jl. * 1.4 ItK. Commission Merchant.
H dmiiigton, N. C.
constantly on hand for sale. Fresh Stone
• I alriaed Plaster, Hydraulic t'-ment and Pias-
: -,ir.
reorm] attention given to consignments ol
- res. Cotton, Flour. Wheat or other country
■†sale or Bliipnient.
83—ly
» J.}|>:\Ut:\lltLL. LAND AGENT, WILL
I. select and enter Government Land, Locate Land
rants, make investments for capi'alists at Western
taxes, and transact a genernl real estate bu-
- in Minnesota, Iowa and Wisconsin. Address,
; is, M innesota.
—Hon. .1. M. Morehead, George C. Men-
Col Walter Gwynn and llou John A. Gilrner.
. 1866. 888 if
II.HES M. EDNGf. 141 fhamberti-nl.
tl Sew York, buys every kind jf Merchandize on the
ins. ind forwards for i\ per eent. commission,
in Pianos, Parlor Organs, Organ Melodeons,
Harps, Guitars. Stools, Covers, Music, etc.,
and retail. All Instruments warranted.
for '• Lindsay's Patent Pump," Garden En-etc.
Circulars of Instruments and Pumps sent
ipplicalion. Refers to John A. Gilmer, C. P
II. It. h. Swain, and others. 950
Jl. MARTIW, IlltO. it CO., GROCERS
. AND COMMISSION MERCHANTS, No. 189,
reet, Petersburg. *'a.
NASHVILLE, MOV. 21, I860.
W. A. liiARi.Es. F.-q, Supervisor of Banks
Dear Sir : In view of the political and mon-etary
storm which is at, present sweeping ov-er
the country, threatening destruction nat
only to our political institut'nns, but also to
our tortures, and which, if not checked by
some means, and that suddenly, no one can
forsee or foretell the consequences of the result.
With that lact staring us in the face, and know-ing
that you (from your connection with the
banking institutions of the country) have bet-ter
means of knowing what is really their true
condition than any one else, ive call on you
for an expression of opinion as to what is
best, under the circumstances, lobe done by
the banks in the emergency. Can they stand
up under the prevailing storm, or would it be
better that they should at once suspend spe-cie
payments in order that they may place
themselves in a condition to give thai aid, in
a pecuniary way, which we all deem essential.
not only to the well being ct the people, but
to their very salvation fiom utter ruin?
The only remedy which presents itself to
our n inds is the one above indicated, that is,
an immediate suspension of all the- Banks of i
the State. Do us the favor to give us your
opinion of this subject, at your earliest con-venience,
and oblige,
Respectfully, &c,
Geo W Cunningham. Bang, Walker & Co.,
T Anderson, W Hy Smith,
KC Gardner, A S Camp & Co.,
Cooke, Biiley & Co., J O Griffith & Co.,
Porter, Johnson & Co.,W A Cheatharo,
Evans & Co.,
11 B Buckner,
W II Webb & Co.,
J Webb Smith,
KS Rollins & Co.,
Trabuc <Si Lucas,
Mizell Hooper .{• Co.
Lellyetl & Smith,
Nevins. Keith & Co.,
L II Lanier,
Terrass Brothers,
Tbos E Stratum,
A J MeWhiiterdc Co ,W O Maxey,
The loss must fall, however, in either case
upon the producer. In the one case, from a
failure of return for'he expenditure for his
labor; in the other from a diminution of price,
resulting f-om a failure in the means of trans-portation
from the home market to the mar-ket
ot consumption.
Besides the existence of something upon
which to operate, there must exist in order to
enable the Banks to fulfil their legitimate mis-sion,
apublic confidence. Both causes, the fail-ure
in the crops and a failure of public confi-dence—
the belief in the minds of many that
the country is on the verge, if not in the in-cipient
stage of revolution—co-operate at this
time, to produce a state of pecuniary embar-rassment,
alarming and distressing to all clas-ses
of society. A lew facts will better illus-trate
my meaning. In examining oneof the
Braticu Bauks at Memphis, I found that for
some lime previous to the date of my examin-ation,
the Bank has discounted cotton bills to
the extent of about two hundred and thirty
thousand d. llajs per week. The bills taken
were based upon actual shipments of couon
bought at fair rates, drawn by first class men
at home, accepted by first class houses in New
Orleans, having but thirty days to run, and
yet such was the condition ot things, that the
Bank, thus furnishing the local currency with
which to pay for the cotton at Memphis, had
to stop this line of discount almost in whole,
and why ? We will see by following the basis
of this operation (the cotton) to another mar
ket. When it arrived at New Orleans, the
Memphis buyer placed it upon the market,
and his purchaser buying mostly for foreign
market must obtain the local curency at Ne.»
Oi leans with which to pay for it, by selling to
the New Orleans Banks his sterling bills,
drawn upon credits furnished him by his for-eign
correspondent.
New Orleans having but little foreign trade
unless these sterlig bills and buyers in New
York, (tne great fleas of our foreign com-merce,)
it is manifestly impossible f -i tho
New Orleans Banks to furui-h the local cur-rency
with which to pay the Memphis buyer
for his cotton. The fact is well known that
there is now no market in New York for Ster-ling
bills,except at ruinous rates. Tho par
ot Sterling Exchange is, I believe, 1091; the
present selling rale at Sew York is about 98,
an actual discount of 11 per cent, when it
only requires about one per cent to bring the
coin from Europe to New York, a rate of dis-count
so ruinous that operation cannot and
will not stand it. Thus the Momphis buyer
cannot meet his bills, and must renew or go
to protest, and the Bunk furnishing the local
currency with which the planter is paid at
home, i- driven to protect its circulation to
use the gold in its vaults and wait the uncer-all
the other Stales, for redemption. Tho re-sult
in most of the chief emporiums of Tade
has been a Ba k suspension. Again, let it be
remembered that every dollar of specie fund
taken from our Banks makes it necessary un-der
our law lor the Banks to contract its circu-lation
thre dollars, thus abstracting fr.>m the
circulating medium, all r«ad_y too small, at. a
ruinous ratio, which, ifpresisted in, must in-evitably
result" in the total bankruptcy ol the
country.
Is there any method, then, by which this
great evil can be averted ? I have considered
indignation at the Northern States for their
outrageous interference with the domestic af-fairs
of the South, their underground rail-roads
and their "personal liberty laws."—
But none of these strikes us as equal in atroc
ity to the project proposed by the Governors
of these two Southern States," to effect the ob-ject
avowed by him of South Carolina.
And we tell our North Carolina friends,
that if this Union should be dis-olved, (and.
for that purpose. Referred to committee on
Cherokee lands.
By Mr. Giithrie, a bill to incorporate tho
University Railroad company. Referred to
committee on internal improvements.
By Mr. Itavnes. a bill »o amend an act to
incorporate the town of Thomasville, in Da-vidson
county—forbids the sale ot spirits
therein without license from the town author*
iliefflP-fieferred toCommiU.ee on private bills.
we have scarcely a hope that it will not be,) Mr. Green ol Franklin, reported the elec-the
very last thi-ig that they should do would ' lion of State Treasurer—which vote counted.
be to unite her with ihe.e cotton Slates, the I 146. ol winch D \V. Courts received 146 un-the
subject in every yoint of view that my I chief one of wiiich (South Carolina) is this ' anunously-leited.
mind is capable of comprehending it, and do | day less attached to North Carolina than The bill to exempt from execution certain
not hesitate to g v.. it as my opinion, that the I New York or Pennsylvania is. No, No I If propert\ , wa« rcutl 'bird tone,
only remedy is to be found in the minediite we have to separate from the slave stealers '
but temporary suspension of specie payments
on the part ot our Banks.
If they do not suspend all they can do is to
contract their circulation untileve-y note they
have out is redeemed, and in order todo this,
they must, in self defense, cease all discounts,
and ntillifiers of the North, lei us eilher set
up for ourselves or join the conservative bo.
der Slates, Marrylland,, Viirrgiinii_,, KKeennllmmk ,
Tenne-see. \V th these we have interests in
common a.id feelings in common. But a
confederately of tho cotton States would ie-and*
what is still worse, add tenfold to th" al- j open the slave rtade, in spite of the interests | 2,) from the table, on the subject of altering
ready distressed pecuniary condition of the j and feelings of i<he "border State*," and would the Constitution, for the purpose of having ii
country by collecting in the ten millionsofin | shape all its legislation t<, the advancement of
' the cotton interest. The tariff polity of the
Mr. tiaither moved its indefinite postpon-me'it,
which was carried.
Mr Hill from the select committee reported
back the res luiion to refund to the banks
moneys illegally collected as taxes, and re-
Commended its passage.
Mr. Crumple- moved to take tho bill (No
\
Fiirman & Co.,
J F Dcmoville,
B II Cooke
Snyder & Frizzell,
Thompson cvCo.,
A C & A B Beech,
R C McNairy & Co.,
J D Eakin,_
Sam Co van,
R G Throne,
John Morrow,
Janus T Bell & Co.,
\ ai.oy iV Tarbcville,
Coleman & Spain,
\. M. M iltTI.V, SO.\ & CO.,
M M 1 S SI O N MERCHANTS,
Richmond, Va.
debtedtiess due them from the people. Is the
country in a condition to stand such a pres-ure?
Who will be benefited but the fortunate
few who happening to have their fortunes in
money will be enabled to purchase the proper-ty
of their neighbors at one-fourth its real val
ue? If, however the Banks suspend, tempo-rarily,
and with the bonafi.de intent and pur-pose
of relieving the countiy, the good they can
do is incalculable.
The Cotton Planter can find sale for his
cotton, the Banks can discount tne bills of
the cotton merchant, and tie having time to
send his cotton to the foreign market, can
bring back the gold, with which tho Banks
can redeem the notes loaned him for the ori-ginal
purchase- ThoPlanter with bis local
currency thus obtained, can pay his merchant
for supplies, his mechanic for the implements
of labor manufactured by him, and these in
their turn can meet iheir indebtedness, The
same thing will obtain with reference to to-bacco,
corn, and all the other staples of the
eontry. This too will enable the Banks to
extend the ten millions of indebtedness, hang-ing
like an incubus npon the people of the
State, and in so doing benefit themselves as
well as the people. By forcing collections at
this time, many of their creditors would be
unable to pay, who', if allowed time i.nd easy
instalments, could readih meet their liabil -
ties. Thus would result in a two fold benefit,
the banks getting their money which they
would otherwise lose, and tlu people the re-lief
thej' so much need The remedy, in my
humbie judgment, would be immediate, and
would reach ever}'class ol society and every
taritl policv ol
United States, against which South Carolina
wanted to nullify, was nothing to what the
farming States * oil Id experience at the hands
of king cottotl. Preserve us from such
friends I who openly tell us that they intend
to foice us to join them or to emancipate our
slaves. If we are freemen, we will tell them
that we we will do neither tho one nor the
other.—Fay. Observrr.
tain result of th original drawer's operation public enterprise in the Slate
-i wins, SB.,
: ;N,
E MM: 11N,
BO. TANSAniLL,
11. L. PLLMMKB, JR.,
■• M. MARTIN, JB.
■ | ersonal attention given to the sale of pro-rs
lor goods prompi ly filled. "tfJO 401y
KOR1 II. ■• O- UAKIKL,
I For past 7 yearrs with T.
rof, N- C. | C. A: B. G. Worth.
' ORTH & D4AIEL, WHOLESALE AND
;..1A1L GROCERS AND COMMISSION
UNTS, No. - Granite Row, Front Street,
n, V C.
J| kim It of Groceries. Vrovisions, Fruit,
Wines, i igars and Tobacco.
Ignmentsol Flour. Dried Fruit, Feathers,
ftax, Tobacco, and Country Produce generally.
r Howe's celebrated Scales. 5-ly
n KYSOLK8 .1.11 BOWUMI...1I. S. KEYSOLD.H.
I>. KE¥K«LDS &■ CO,. Successors to
Rowland .v Reynolds,, GROCERS AND
IMISSloN MERCHANTS, Norfolk. Virginia.
I I -..,1- for REESE S MANIPULATED GUANO
».*»keeping on hand NO. 1 PERUVIAN GUANO
•u«l Iroin the Government Ageni. we can furnish
•are upo- REASONABLE TERMS. AND OUR
CK.OF GROCERIES BEING LARGE AND OOM-
'E, all order, will be filled at lowest market pri-
8-tf
l P. S|MIIJ. of \ortli 4 arolln*. with
»• UK Vi DON, Met REEKY & CO, unpor ers and
lealers in Foreign and Domestic Dry Goods.
\.■ . No. II Barclaj street, and 4ij Park
ren ovoin July next to the Appleton build-
.. iy, | Sew York.
> III l.r complete by the 1st February, and
,,i.\-ic,ii,l our Mr. McCieery (recently
\l iCreery, Charleston, S. C.) will comprise
i goods in our line, adapted to tU«
\ South-Western irade.
iiing .V'w York are respectfully invi-
.- » .-.-.I!. feb!7-ly
|lTT© III BER, JbWELLER t»D
' iTi ll-MAKER, West Market, GKKKNSUOKO
hand and is receiving a spleudid and wen
.. ol fine and fashionable Jewelry of every
imong winch may be found several magni-
I coral Jewelry.
a Bo :, stock ol line Gold and Silver Watches.
_• done in the BEST MANNER and war-eisons
purchasing Jewelry, would do well
m I.More purchasing elsewhere, as he is
,n sell as good bargains as can be
i his market.
: Is - 996 tf.
j' 'I .V U. I.I.\ES. Manufac urers and dealers
'• HEAVY DOUBLE-SOLED BROGANS,
SOLED BROGANS, GENTS' RIP BRO-
- ud OXFORD TIES, at wholesale aud retail,
e N. C.
uteniinri pai.l to double-soled Brogana, fer
:, are warranted to do good service at
RICE
iiauaol the Snu'hren people is respectfully
- HOME ESTABLISHMENT, with the
i every thing sold by us shall be of a good
, MODERATE PRICE
O'l'l. «.. I IIO>l 4> has removed his HAR-SHOP
to the rooms recent y occupied by
! HALKEB, ES.I., two doors North of L1NDSA1 S
,1,-lv opposite the NewCourl House.
'■■■■ will I e pleased to receive call.- from his old
iblii generally. It i^ his intention
ally ii hand :\ goi I assortm ?ut.
- and ,'tlier articles in his line, which he will
-• || on reasonable terms.
\\ < IMiWKM. s i>iioloi:raplilcUal-
" • Ifrj is now opened, and fameotypct, Melaino-
MBROTYPES, which cannot be surpassed
ITV and HEAUTYare taken in Lockets,
-. :,, suit the tastes and purses ol all.—
mently loeated in Greensborough, they
xpect a liberal patronage.
I **■ • and examine tspeciinens, and learn the
ms formerly ocenpied by A Sta rrett, sec-
Qarrett'l brick building, Wtst Market St,
,-ii, N. C. Sept., 1859. M "
••> I EE ! Cofl'ee ! ! Sugar ! Sugar !
isl received a good supply of Rio, Laguira, and
'»' ofleea, 15-own and White Sugar.
* ^manline Candles, &0. B. Q. LLSDSAY.
Washington, Bryan & Co., \V It Hurley,
Copcland, Armistead &Co.
NASHVII.LK, NOV. 24, I860.
GENTLEM;-.X : I have the honor to acknowl-edge
the receipt of your communication, ask-ing
my opinion, as one of tho financial offi-cers
ot the State—
First—As to the condition of tho Banks.
Second—As to tbe proper remedy to re-lieve
the country of its unprecedented pecun-iary
embarrassments.
If. as a citizen merely, it would be my du-ty
to give you the benefit of whatever infor- |
mation 1 might possess, much more it is my .
duty when applied to in an official character, j
Your estimate of the pecuniary condition
of the country, gloomy as it is, falls far short
of the reality. In the discharge of my offi-cial
duties, 1 have visited many of the cities,
towns and counties of the State, and in ex-amining
the condition ol the Batiks, I neces-sarily
learned many facts .elative lo the pe-cuniary
condition of the communities in
which they are located. In addition to which,
1 have felt it lo be my duty to make inquiry
everywhere I have been, of tbe citizens, dis-connected
with the Banks; and the conclu-sion
to which I have come, from information
thus obtained, is that unless there is imme-diate
relief from some source, the results wll
be a wide spread b nkruptcv, involving all
classes of citizens—a stop.in the progress, if
not the destruction, of every public enter
prise, a,.d culminating in actual want upon
the par:- of those who depend upon their dai-ly
labor for means of support.
It is needless to stop io inquire into the
caiws producing this condition of things. It
is enough to know that it exists. The two
gr>*a< souifts, however are doubtless the suc-cessive
failure of the crops and the political
temper of the times, bordering upon revolu-
I lion. Other causes than these are but mere
I rivulets, helping, nevertheless, to swell the
engulphing torrent.
The failure ol the productive resources is
sutlii ient ol itself to produce pecuniary em-barrassment.
Tne producing classes furnish.
| nig the true basis of all pecuniary operations,
there must necessarily be a diminution or an
increase in the circulating medium in exact
ratio with the diminution or increase ol lhat
basis. A full crop is always followed hy a
fuli currency—a scarce crop by a scarce cur-rency.
Banks, it is true, can and do furnish
credits by means of which ilie products of a
country are moved from one market to an-other,
but they never yet ■ r- aled or produc-ed
one dollar. These proposinons, obvious
as tbey are, are presented t ■ meet errors ex
isting in the minds of many, equally as ob-vious,
i.e.: lhat the condition of lh- currency
of a country i> dependent upon the arbitrary
action of the Banks. 'Tis true, that some-limes
a combination of influences is blamed
i by means of whi, h Banks are enabled to put
I out a circulation without a legitimate basis,
, but fortunately for the countiy, such institu-tions
have an ephemeral existence,and bring
for a replenish ot the metal thus abstracted.—
Manifestly no Bank can keep out and protect
a circulation with the stream of metal thus
flowing all the while out of its vaults and
none returning. If, however, the depressing j
influences now operating upon the trade ot
the country did not exist, the Memphis buyer
would find a purchaser in New Oi leans, the
New Orleans, buyer would find a sale for his
sterling exchange with which to pav. And
with a credit, in the Banks of New Orleans,
equal to the amount of circulation to purchase
the cotton at Memphis, in favor of the Mem-phis
Bank, (which could be ordered borne in
gold to replace that used to protect the cir-culation
used in the first purchase,) it would
again be in circulation to take other bills and
furnish the buyer with home currency with
which to pay the planter for his cotton.
Thus would be prole> ted an equilibrium in
the ebn and flow of the metallic tide. But ow-ing
to the disturbing causes above roferred
to, there is a damming up of the commercial
stream at New York, tho reflet action of
which is a total destruction of public confi-dence,
or more properly speaking, of public
credit, driving home the notes of tho Banks,
for redemption, causing the Bunks to stop
all discounts, and forcing them to collect the
money due them upon notes and bills pre
viously discounted. This again causes the
debtor class to push their creditors, all result-ingunder
forced sales, to a loss in the price of
property amounting in tho aggregate to a
sum grca'er than the value of one good crop,
and this loo at a time when the country is
struggling under the previously imposed bur-then
of a partial failure in three successive
crops.
The article of cotton is taken simply for the
sake of illustration ; the same fads obtaiu
witi reference to all tho other staples of the
State. It will be observed, howover, that in
every, case the loss falls on the producer.—
The buyer, having to sustain a loss of eleven
percent, on his sterling exchange in order to
obtain the local currently with which to pur-chase,
will ot course buy, and can only afford
to buy at a rate of price proportionately redu-ced.
Thus, I again repeat, the loss falls on
the labor ef the country and tho products of
this labor being the true basis of all pecuniary
property, a depressed pecan ary condition
must follow in exact ratio with the depres-sion
ot the great industrial basis.
There is tsti'! another cause deducible, it is
true, from those already given, but which I
esteem woiltiv of especial notice. By refer-ence
to the Bank Code, section 6th, it will be
seen that each and every Bank in the8 ato is
required to keep on hand an amount of spe-cie
fund equal to one-third of its entire liabili-ties.
It is farther provided that in case thi6
specie fund shall tall short of U-is proportion,
for lo'ty days, then all discounts -hall cease
until such proportion is iestored. The Bank
ol T.iui sseeand the Union and Planter's
Bank had, on the 1st i^st., in round numbers
twe millions of spcie funds, and their imme-diate
liabilities, in deposits ad circulation,
were five millions of dollars. From this it
wiil be seen thatihey were entitled to an in-creased
circulation, had the country ben in
condition to receive it (done million of dollars.
But suppose five hundred thousand dollars of
deposits and circulation were to return to
No one is moro opposed to bank suspension
in ordi.ary times, than myself; but exlraor I
dinary emergencies require exti am dinary re-medies.
Tbe suspension of the writ Habeas i
The Legislature.
Houseof Commons, Dec. 4th—By Mr. Bax-ter,
a memorial from the citizens of Curri-tUCK
county, in favor of the passage of a law
for the removal of free negroes fro c the
State. Referred to committee on the judi-ciary.
Mr. Wil'isms of Nash, moved that the me-morial
he piinttd. Agreed to.
By Mr Fais-m, a memorial and resolutions
on the subject of federal relations, declaring
the right of a State to secede from the feder-al
compact; and asking that the same be
printed.
Mr. Donnell called for the yeas acd nays,
and the motion to print was adopted—yeas
56. nays 53.
Mr. Ferguson offered a resolution on the
subject of taxes, which was referred to the
coniiuittee on the judiciary.
Mr. Lemmonds, a res dution on the subject
of taxing incorporated miiCng companies.—
Referred to the committee on corporations.
By Mr. II kti, a bill for the belter organi-zation
ol the militia; during the reading of
which,
Mr. Iloke moved to d spense with the farth-er
reading and i's reference to the commit-d
to.
referred Agreed to and the bill was refer-red
to ihe committee on eonstil_iion ,1 re-form
Senate, December "th.—Mr Winntead.a bill
to incorporate the Bank of Hoxboro. Refer-red
lo l he Committed on ba1 k* and banking.
Mr Spelg"l from ihe committee on corpo-rations,
reported buck the following hills:
A bill to incorporate Swai.noa Lodge, 1. O.
G. F., recommending its passage.
A bill to incorporate tho Buncombe Rifle-men,
with amendment reccommonding its
passage.
A bill to incorporate the Salem and Thom-asville
Turnpike Company, recommending ils
passage.
A bill to incorporate the Orange Light In-fantry,
with the amendment recommending
its passhge.
A bill to prevent the felling of limber in
certain parts of Ir-dell county, with tho re-commendation
that it pass.
A bill to incorporate the llillsboro' Acade-my,
asking to he discharged from its further
consideration, which on motion of Mr. Street,
was referred to the in litary committee.
Mr. Turner presented a resolution to en-coiirnge
hom" industry. Requests the Sena
tors io appear after the first of January in
clo' In s manufactured in t he State
After Some hu:nerous remai ks by Messrs.
Ramsay and Turner.
Mr. Bledsoe moved to lay the resolutions
on the table.
Mr. Turner culled for the yeas and nays—
veas 21, nays 20.
ham Mining Company. Referred to commit-tee
on corporations.
A message was received from the Governor
in answer to a resolution adopted on Friday
last, giving the number o! arms &c, belong-ing
to the State, and Hi-- disposition that has
been made of those received lroin the general
govern men..
Mr Uoke moved 'o reler the message to
ihe committee on military affairs. Agreed to.
A bill regulating the time of opining ihe
By Mr. Hill, a bill to incorporate the OH*-
77 I ^. Xrth^'wili h^ve the patriot- we,, Railroad Company, to build a railroad
,mlo raise themselves above their monev from Mi ion t, the Lompant - shop < on tbe
ags, and act for the people in these gloomy Horth-Carolma Railroad. Keb-riel to the
avs of political and pecuniary revolution. j comm.i.ee on internal 'mpn-vemems
Corpu*, and a declaration of Martial Law, are I lee on military affairs. Agree
remedies resorted to ... times of anarchy and j By Mr. Polls, a bill
revolution in governments. There is a state
of anarchy and revolution in tho momentary
world, and it seems lo me that remedies of a
prompt and extraordinary character are per-emptorily
demanded. The remedy must be
speedy or the evil to be avoided will ha e
been consunimted. If it were otherwise, I
would suggest that the whole question be re-ferred
tc the Legislature for its action ; but I
repeat, there is no time to wait for this. The
Banks of other States arc acting and reliev
ing their citizens. Why should not our Ban-kers
listen 'o tne appeals of a distressed and
almost bankrupt country, and apply th. reme-dy
is
bag
days of political and pecuniary
'Tis true, there is a penalty placed upon l
them by law. in case of suspension, but what1
is this penally, compared with the great good
tfiey do, the great evil they avert, and tan
tbey doubt that the members of the Legl.-la-tore,
fresh from the people, fully aware of ihe
necessity lor this course of action, and the
reliefto the people resulting from it, would
hesitate to release the penalties ?
To recapitulate—First, I propose a tempo-ral
y suspension.
Secondly—The Banks so suspending to act
for the relief of the country, by pursuing a I
line of liberal but prudent discounts and le-newals.
!
Third—To check at a maximum rate ol,
one-half of one ptr cent. _ |
Fourth—To furnish in exchrnge for their:
notes small sums of coin sufficient for the ordi- i
nary wants of the community.
Fifth—A resumption as soon as the causes
operating to render their temporary suspen-
Bion necessary, arc removed.
These views are given, gentlemen, With \
much diffidence, knowing as 1 do, that I am
addresing persons fully acqiiainte-' with the,
finances and wants of ihe community. 1 could
not, however, h.sita.e to respond to your
communication, and in so doing, assume my
full share ol retq.onsibility to bring about the
result above indicated.
I have the honor to bo very respectfully,
vour obedient servant, ftc.
WM. A QUARLES.
To Messrs. G. W. Cunningham, T. Ander-son
aud other, Nashville, Tennessee.
House of Commons. December7th.—Mr. Bax-ter,
from ttie committee on proposition- aud
gaiev'unccs, reported on the following:
A hill to establish Clay county, with an
amendment as to tines, and recommended its
pa-sage.
A bill to allow less than a majority of jus-tices
of I rcdel I to transact business, and re
commending it- pa-sage.
Mr. Ili-iii y offered a resolution for the ap-poiniment
i if ajoint Committee lo inquire and
report I fie amounts in dollars anil cent-, thai
the public printing has cost the Stale from
ils lir-t organization lo ihe present lime.
Mi. Blade moved lo lay on the table.
Mr. Henry called for the } i as and nays
The ipn stion be ng put, tbe motion pre-vailed—
y. a- tiO, nil) s 11
Mr. W'.shari introduced a bill for the relief
the subject of tho position that otight to bo ta-ken
by North Carolina in the present dis-turbed
stale of political affairs.
Mr. Davis accompanied the resoletionsw ith
remarks in support of the spirit they breathe,
declaring Mecklenbur-r county always rwadv
to stand side by side with the foremost in do- >
f tiding the rights and honor of the St.'Ue aud
of the South. The proceedings wore referr-ed
to the committee on federal relations.
Mr. Rogers presented io the Mou-e a rcso-lution
ndopled at a recent meeting ot the
Noith Carolina Agricu'tural Society, in fa-vor
nt continuing i ho office ol Suio Geologist;
which was read, and, ,
On motion of Mr. Rogers, a message was
sent to the Senate proposing to raine a joint
committee of three on the part of tha IIuuso,
and two on ihe part of the Senate, to whom
the same should be referred; which was
agreed lo.
Mr. Person, from ihocommittoe on finance,
reported on the Treasurer's books, that the
sumo were foui d correct, and in accords'ce
with the published report. The report wal
concurred in, and on motion transmitted to
the Senate.
Mr. Rog rs asktd aud obtained leave to
make an explanation in regard to astalemeut
made in the House a few days since, to theef-leul
that the public printer bad not recoivod
the usual courtesien from the press of tho city.
Mr. Rogers said, that so far as tho Register
is concerned, that office had not refused any
courtesy that had been asked, and that could
bo granted without seriously interfering with
tbe business of tho office; that it had declined
to do some press-work, because, at tho time,
the press was at work on the Church Intelli-gencer,
which was publish by con ract, but
they had lent him a supply ol ink. &c.
Mr. Fleming stated,as a cause for the do-lay
in printing ihe rules, that the ardor to
print them bail not been scceived by ihe prin-ter
until two days sgo.
By Mr Foy, a bill to charter tho New Riv.
cr Lanai Company in the county of'Onslow—
appropriates 1510,000 Slate aid. (The canal
runs from some point on New River to
Brown's sound.) Referred to tho committoe
on internal improvements.
By Mr. Shober, a bill to repeal chap. 01. seo.
:i7. of the Revised Code. Referred to tbe
committee on internal improvomoments.
By Mr, Iloke, a bill lor arming tbe State,
provides that the Governor shall be empow-ered
to purchase mu-keis. bayonets, powder,
ball cartridges, and percussion caps, and ap-propriates
for this purpose, otic hundred und
seveniy thousand dollais.
The second section requires the Governor
to collect the arms already belonging le the
State and have them repaired—appropria-ting
therefor tw -nty thousand dollars.
The third section requ res him to purrhase
600,000 pounds saltpetre and 50,'JOO poun 's
of sulpher, and appropriate $100,000 for that
purpose.
The fourth section gives a bonus of 125,000
to any individual or company who shall es-tablish
a powder factor,and guarantee to sup-ply
the State with the amount of powder it
may demand.
The bill being read first time, was referred
to the committee on military affairs.
House bill regulating the time of opening
the polls at elections in Salisb .ry, Ashoviile,
Wilmington and Lexington, was taken up,
read third time and passed, and ordered lobe
engrossed.
v..
polls it elections, in the town el Salisbury, of the people; provides tor tbe su« pen** n ol
recommend- iis passage. i wo years
Mr. Bw-
Are the ttlsunlonMls Crazy I
We think we never read any proposition
more as'onish-
A resolution was offered by Mr. M. rrimon,
for the manufacture of arms, at some point on
Deep River Referred to the committee on
military affairs,
The bill concerning the time ofopening the
polls at elections in Salisbury, was amended
by adding Wilmington and Asheville, as rcc.
oiiimeiioed by the committee,and Lexington.
on motion of Mr. i.aincs, and as amended
passed its second reading.
The bill to prevent tho emancipation of
slaves by "ill with the amendment recoin-men
ed by the committee was read
Mr Henrv mo'ed to postpone Indefinitely.
Lost—yeas3, nays KM.
The bill then passed the second reading.
Senate Dee. 5/A.—A message ir.m the
House, proposi. g'.to rim a joint se eel com-mute
of three on the part ol the House, and
three on the part of the Senatet on the sub-ject
of Geolo w and State Geologist, which
was concurred in
Senate Dec. \)th.—M* Harris*, ofChatham,
presented a memorial from the Cape Fear and
Deep River Navgation Company wb ch was
orde.ed to be lead. During ihe reading.
Mr. Outlaw .moved ll at the III ther t<:.di"g
of tho memorial be dispensed with, and lhat
it be referred to the committee on claims.—(
Carried.
Mr Ramsey presented a memonii n 'm (
and proceedings ota meeting flhecitiz us "I
Row an county, in tav.rof calling a Conven-tion
ol the State, and fa voriug secession
Mr. Ranweji said, that thi< memorial eman-ated
from a highly respectable portion of,
his cousiiiueii's but he would stale hat ho
did n t beli vc lhat -t reflected the sen
t.ments of iht majority in his section, and
thought i. proper to state that he diIf.red
the rtewioralists very materially, bu<
lie ex, cat,"ii laws lor the lerui
Read lii-l II in-, and on motion of
man, laid on ibe lable and ordered to b. prin-ted
The hill to amend the Jonathan's ("reek
Turnpike Road, read second time, and at the
request of Mr. Hayes, it waa paused over in-to'mully.
The fiill t • relund to the banks of this Stale
mom ye illegal y collected at taxes, passed
second reading.
The I'il1 to repeal an act concerning Just -
Senate, Dec. 8iA.—Tbe Speaker presented
a seres of resolutions pa-sed by a mooting of
the citiiens ol I&'dgeeombe county, on feder-al
relations. Referred to committee on tbut
subject.
Mr. Walker, from the committee a educa-tion,
reported back tho bill to incorporate Ed-inhoro'
Male and Female Academy, with ro-
1 commendation that it pass.
The bill to incorporate Jud«on Fen ale
College, recommending its pa-s-'ge.
The committee to prepare for the counting
of the voles for Oovei nor reported, proponing
lhat the Senate and House meet in the House
at 1'2 o'clock, and lhat the Speaker of the
Senate be tne chairman of the Assembly, and
that tie voles be counted hy a joint rummit-ees
in Chatham county, w!»t passed over infor
mully.
Mr Poutral received II votes, and Mr. Ed-ward
Vail 21.
The vote for Mr. Courts, for Sti.te Trees- tee of t vo on the part of each House,
urer, was unanimous in the S- nate. The report was concuired in, and sent to
Mr Walker prcseiucd the proceedings of. j ihe House for its concurrence,
and a memorial from, ■ meeting ef the citi-1 A .aessage WHS received from tho House,
lens of Mecklenburg county 00 federal rcla- with a letter from the Governor, transmit-tions,
ami urging the call of a convention i t , ting the report of the treasurer of tho 1,'ni-thc
State, ami declaring that it any Southern ! versily
Sate seceded from the Union, it would be I
the dm;, of North-Carolina a>ao to secede.
Mr. Waikup presented a memorial and res-olutions
from a military convention held in
the town of Salisbury, and moved its refTer-ence
to the military committee, and to dis
pense wuhtbo reading, Carried.
Mr. Walker introduced n reso ill ion tender-ing
the use of the Senate Chuin>'er to the elec-toral
College at VI o'clock. Adopted.
Mr. Hall, a bill for a Mechanic's lien law.
Mi-. Burti IOVCJ to print.
Mr. Hall had no objection—said that the
more the bi:l was canvassed the more it would
be favored an I undeinood.
Mr. B nton's moi on prevailed.
Mr. Thomas, -rf Davidson, presented the fol-lowing
res dution:
Resolved by the Qenera, Assembly, and
be, utid they are licit by appointed
c uriii. slo"ers, c>n the part of the State ot
Jiorth-Caroliiia, t" attend tbe convention of
I In Slate ol S 111 h Carolina to be held in Lo!
ilinbia on the, 17th lost , wMb power and an
thorny, to confer with said convention and
On motion of Mr. Ramsay, tho report, wit b
accompanying documents, were Ordered to
be prii led, and refei red to committee on ed-ucation.
A message was received from the II uiso,
transmitting ihe fo-lowing engrossed bill- :
A bill to amend an ucl entitled au act 10
incorporate the town of Charlotte.
A bill to prohibit the emancipation of slaves
by will. Read and referred to committee on
judiciary.
A message was received from tho Honse.
concurring in the report of onvuittee, to
prepare tor counting tho vote for Governor.
The boar ot \'i having arrived, tho Si ate
Ldjourned t» the House of Commoat, when
I l,e speaker of the Senate took the Chair, and
>he returns of the different Sheriffs of the
election in Auguit were announced and com-pared.
The Senators having returned to the Son-nie
chamber, Mr Thomas of Jackson, from
ibe committee on internal improvements, re-ported
a bill to amend the charter ot the Wes-tern
N. C. Rai'road, and recommended its
disgrace and ruin upon those who manage j the Batiks tor specie and specie funds. Then
I
them.
Tho truo mission of the Banker is, as said
above, to furnish the means of moving the
products ot the country, and his charges tor
this agency give a profit sufficient to induce
the capital of the countiy to seek employ-ment
in this channel. In other words, toe
Banks are but the common carriers of the
products of the country.
When the producer fails, these great vehi-cles
of trade have nothing to do, and on the
ojher hand, when from any cause they fail,
the products of the soil cannot be moved, or
I are moved at ruinous rates to the producer.
the Banks woulti hold o. e and a half millions
of specie and specie funds, and their liabilities
in circulation and deposits, by law, would ne-cessarily
have to be reduced to four and a
halt millions. For every dollat thus returned
to the Batik for redemption, the Bank would
be compelled, in order to keep in line to col-lect
three dollars from i s creditors.
I now come to consider the remedy for the
evils which have been previously relerred to.
It cannot be dcnieJ that the disturbinguaose,
whethet rightly or wrongly, have destroyed
public confidence, and is driving home the
notes n.t „nly of our Banks, but the Banks of
pate their slaves! Bui it seems that South
Carolina and Mississippi are to act in concert
in this most unfriendly measure; for (,ov.
Pettus, in his message to the Legislature of
Mississippi says :
"As it is more than probable that many of
the cit.zens of the border States may seek a
market for their slaves in the cotton State-,
1 recommend the passage of an act irohil.it
ing tbe introduction of s'aves into this State
unless their owners come with them and be-come
citizens, and prohibiting the introdae
lion of slaves for sale by all persons whom
And"»» h» thefriendship which the "bor
der Slates" aro lo experienc i from the "Cot-ton
Slates'." Diu Reward, or Lincoln, or
Greele.y, or even John Brown, ever manliest
towards North Carolina a more diabolical
spirit than this? We have ofien expressed
" There was quite a discu-sion between Mr
Brown and Mr. A cry—Mr. Brown arguing
strongly lor the Union, and staling that nine
tenths of tbej.ei.pl' of North Carolina was
oppo-ed tosecessi-m for existing caoaee—Mr.
Avery argoed for sece-sion.
House, 6th.— By Mr. Snober, a memorial
from a portion of the en izeu- of the town
of tireensl oroug'i, asking an amendment
of the charter ©f j lhat lo*n. Referred lo
committee oicpio-iosiiio' aodgrieva ccs.
Mr Fuison rep i ted the election ol Engros-sing
Clerk. Whole number ol voles 141, of
which Mr. V:;-il received 9*:, and Mr. Futerell
By Mr. Hajys R bill to provide or the com-1 ihe a|«pro|
l.letion of Western Turnpike road- - pp'"-,
priai.es
ol Ch
sent to the measure, to call a convention ol
all In- L'nit'l Slates, to obtain, in a nofiHtita
Mr Thomas -aid ibat he thought it prop-er
lo try il possible,to arrest the contempuv
led C"U'se ot S .nib Carolina, an I was pro-ceeding
to address tbe Senate when the b-.ur
i.f I'i having arrived, the gentleman gave
way. and the S|ieaker decl*r«<d the Senate ad-journed
lo II o clock Thursday.
pi rating the Macon county Turnpike Com-pany.
Referred lo committee on Cherokee
iionai wa , proper assurances and guarranties, lands and western turnpikes,
lhatthe rights of u.c slavebo ling States will By Mr. Clumpier, a bill concerning the
bet■••niter be fully respected and protected. levying ot taxes for common school purposes
to amend the Refined Lode, snap* 00, sec. 82,
as to read ' nay" instead of "shall." Refer-red
to committee on education.
By Mr.Lbne. a bill io incorporate Bill's
Creek Camp Ground in the county of CniaW-b:
t. for the use of the M. r'. Church South.—
Referred to tbe com.in" lee on corporations.
By Mr. Simontun.a bill to amend an act
House of Commons, Dee 5fA.—By Mr. Sbaw.l pi.s-.-d in L 53, to incorporate tho Atlantic,
B resolution on lederel relations. Referred I'i Ohio and Tennessee Railroad Company. R«-
,rialo oinm fee. Icircd to commit tee on internal improvement.
Mr Davis of Mecklenburg, tho price- The hour of 12 having arrived.
',"" *,h 7 173. in the'hands 'of 'th. agent I ding-, in- hiding res dutions of a public mee-1 Mr. Kerebee moved that a message be sent
IheioxeJElands,''not o^wL dirked, j 1:.,^ of ctmem? of Mecklenburg 'county, on [ to the Senate informing f.,t body that the
I