The Sun.
London, England, 1841-03-09 00:00:00

MONEY and COMMERCIAL, NEWS.

CITY, MONDA? EVENING.
The advice; from the United States being of a very
unsatisfactory tenour, not only as respects political, but
also monetary affairs there, the Stock Market has been
depressed rather sensibly, the decline being at least 4 per.
cent. There was a moderate business done at the reduced
rater, but nothing amounting to a run among the holders
to make sales. Consols for Money dropped from BFi4
to 884 and 88, and for the Account from 884 89 to 84
and 4. The Market closed at 884 to 4 for the former,
and 884 to 4 for the latter. We may remark that the ex-
tent of the depression is not to be measured exactly by the
actual deeine, as the Market on Saturday bad a decided
tendency to advance still further, Exchequer Bills re-
mained at a premium of 7s. to 93. to-day, and India
Bonds were at a discount pf 20s. to 18s. The New Three-
and-a-Half per Cents, ranged from 964 to 97.
The
.Foreign Bonds had a downward tendency, as may
be inferred from the position of the market for the Engli.h
Stock. Spanish Actives retrograded from 244 to 234
21; Portuguese New Five i.er Cents., in the absence of
any later intelligence from Lisbon, were heavy at 314,
the Three per Cent,. brought 194 ; Braz 1 Stock ranged
from 71 to ; Buenos Ayres were at 234; Mexican
dropped from 284 to 27/ 28; Colomtiin from 234 to
224 ; and Peruvian were dull at 17. Dutch Two-and-a-
Half per Cents. were at 504 to 4, and the Five per
Cent. at 994 to 1. Danish Bonds were 774 to 4.
In Shares a fair amount of, business was done. Gre,t
West^rn brought 224 to 23i, the New 11, the Fifths 5
to Jr; the Birmingham 77 to 79, the Quarter 211 the
Thirds 24 ; and the South Western 174 premium. righ-
ton were 7 to 74, Blackwell 54 to 5, Greenwich 124 ex-
divldead, Croydon 14, South Eastern 164, and Birming-
ham and Gloucester 22 discount. National Bank of Ire-
laid Shares were 2 discount, and Union Bank of Aus.
t alia 7 premium.
The following remarks on the position of the Uah(cl

States Bank, appear to deserve attention :
" The position of the Banks is neither more nor less
affected than it has been during the last eighteen months,
excei.ting now that they have less specie, and the public
more, their circulation being decreased by the amount of
b lla redeemed. The immediate consequence of this state
of aff.ira will no doubt be, that the Government o f Penn.
sylvania will legalize the suspension for a year, and autho-
rise the issue of one, two, and three dollar bills, which, in
pursuing the wild Jacksonian policy, it had a few years
sga prohibited,
" Money will then he plentirul and business good at
Philadelphia, and at New York they will have the benefit
of tl.O specie released, as above noticed. Within the year
the National Government will establish a National Bank,
and the currency of the States will gradually be brought
to that sound state in which General Jackson found it
when ho first attacked the Bank, with the intention to de-

stroy it. In respect to the value of the shares in the
present Bank, that will depend on the amount which may
be finally realized out of the asset?, The publie here are
at present panieotruck, as is generally the case oa like
occasions, A large allowance may be made from the
assets, and still leave the shares worth 75 dollars, or their
par value, There appears to t)e no doubt that a eonspi.
racy has eai►t!d on the part of money-brokers at New
York to destroy the Bank. Such is the account from well-
informed parties there."

(From The Sun of Last Night,)
LIVERPOOL COTTON MARKET, SATURDAY. —A moderate
business hasbeen done,in the Cotton Market to-day, the sales
comprise 4,000 bales, 500 of which have been taken in specu-
lation; prices for all descriptions remain at Friday's quotations.
LIVERPOOL SHARE MARKET.-4 good business has been
transacted at the Stock Exchange to-day, but there is no al-
teration to notice in the rates. Eastern Counties debentures,
4 8 6; Grand Junction Half-shares, 1024 ; Great Western
New Shares, 61; Lancaster and Preston Junction New Shares,
194 ; London and Birmingham, 169, Ditto, New Shares, 21 ;
Manchester and Leedi Half-shares, 291 ; Borough Bank e;-.
dividend, 141 Cqunnerclal an 4 Liverpool, 174; Manchester
and Liverpool District, 104, the above prices were at 4Aarem.
MANctizsmt S•roeg ExcitaliOE, M4acn 6.—We bad
ra'her more business to-day. The sales are—Manchester and
Leeds, 704, 704, 694, 69 and 691 Ditto. New, 294, and 291 ;
London and South Western Tenths, 17, 17 prem.; Stafford
and Rugby, 34; Bank of Stockport. 41. Os. 6d; Manchester and
Liverpool District Bank, 101.
We have received the Journalof Antwerp of yesterday's date.
Ropasg or .4,ISTERDAII,I‘IARcu .s.—'The transactions in
the National Funds have been more animated to-day, and in
general were sought after ' ' the prices have obtained a favour-
able impulse ; the rise in London has contributed to this re-
action. - The Actions of the Society of Commerce were 161.
Ardoin's Spanish maintained the rates of yesterday, and re.
mained at 22 1-16th to 4 ; Coupons 214 7-16ths.
The Gazette of Carlsruhe states from the Danube, of 25th
February, that there is no truth in the movement of the Rus-
sian troops towards the eastern frontiers of Poland.
The only arrival this morning of any consequence is that
from New York, to the 17th February, three days latter than
the last accounts. In general the Report of the Committee
on Fore!gn Affairs is looked upon as being of a warlike nature,
but an opinion prevails that the new President, who takes
office on the 4th March, will do all in his power to prevent a
war with Great Britain. The above unfavourable intelligence
from the United States has had the effect to damp the British
Funds. The particulars respecting the Report on the State of
the Banks and Funds, will be found in another part of the
Papers.
Consols, which left off on Saturday 881 89 for the Account,
Money 884 4, opened this morning at 884 4, since which they
have receded to 881 ; Money, 881; Exchequer Bills 7 9 prem. ;
Bank Stock shut; India Stock shut.
In the Foreign Market Spanish Active his also receded,
left off 24/ 4 ; at present may be quoted 234 24; Deferred,
124 4 ; Passive, 54 64; Portuguese same as they left off 314 32;
Colombian, 2:34 ; Mexican lower, closed at 28* 1 ; at present
271 28 ; Brazilian, 714 721 ; Dutch Two- and.as Half per
Cents. 504 4 ; Five per Cents., 994 100.
Shares.—Great Western, 234 241 prem. ; New, 114 4
prem. • London and • Brighton, 7 61 dis. ; Blackwall, 54 44
• ; Birmingham, 78 80 prem. ; thampton, 554 564 per
share ; Croydon, 11412* per share ; Greenwich, 8i 4 per share;
Mauchester and Birmingham, 16 16 discount,
ii. 4.1...,
PRICES OF SHARES TIIIS DAY AT CYF.
RAILWAYS. Paid. Per Share.
Birmingham and Gloucester 100
Bristol and Exeter 6O ...,.. 39 .. ... to ...-
Great Western
Ditto New 50
a, Ditto Fifths
London and Brighton
London and Blackwall
London and South Western 3Bl 56 ... .. to
Ditto Tenths
London and Croydon (Trunk)... 131 l2 ...... to
South Eastern and Dover
JOINT STOCK BANKS.
National of Ireland 174 154 to
Buenos Ayres papers received to the 27th Dec , in which
there is a general account of the Treasury, which states that
the civil and military expenses for the month of December,
1840, amounted to 3,389,500 dollars, leaving a balance in the
Treasury of 680,338 dolls. at the Exchange of 21/2,which is about
7,000/. sterling. In the above papers there does not appear
any intelligence of consequence.
The intelligence received this morning from New York is
the general topic of conversation in the city, and more parti-
culat ly among the American merchants ; and various are the
opinions on the subject.
Consols have been fluctuating in the course of the morning
at 884 1 %, and at present may ba quoted 881/2 % for the ac-
count; for money, 884. Exchequer Bills, 97, prem. ; India
Bonds, 20 18 discouut.
In the Foreign Market Spanish Active 234 24 ; Deferred
124 i ; Passive, 6 ; Portuguese Three per Cents. 194 ; Brazi-
lian lower, 71; Buenos Ayres 234 ; Colombian 23; Mexican
271 28; Dutch Two-and-a-Half per Cents. 501; Five per
Cents. 994.
SHARES.—Birmingham and Gloucester 78; Bristol and
Exeter 32 ; Great Western, 88 874 ; Fifths, 94 • London and
Brighton • 421 ; Blackwall 191 ; Croydon 12 ; douth Western
56; South Eastern and Dover 161.
CLOSING PRICES.
BRITISH FUNDS.
Bank Stock ... I India 5t0ck..............-
3 per Cent. Red — , Ditto Bonds
3 per Cent Cons ...... .. 834 Ditto Old Annuities —
31 per Cent Red........ Ditto New Annuities... --
New 34 per Cent .. ... 974 Ex. Bills, 1,000/....20 9pm
New 5 per Cent Ditto 5001 9pm
Long Annuities to expire Ditto Small ll pm
Jan. 1860. l2 13.16 Bank Stock for Acct ...169
Oct 1859 ... ...... India Stock for Acct ...
Jan. 1860 ... ...... Consols for Acct BB4
FOREIGN FUNDS.
A ustrian, 5 per cent... Portuguese, 5 per cent.
Belgian, 5 per cent - Ditto, New Ditto.... .. 314
Brazilian Bonds... ~ .. 71i Prussian, 5 per cent....
Buenos A yres, 6 per cent 231 Russian, 5 per cent. . .
Chilian 6 per cent
Colombian, 6 percent... 224 Spanish, 5 per cent 24
Ditto, 1824 — Ditto, Deferred .. 12j
Danish, 3 per cent..... 771 French,s per cent... —f. —c.
Greek.lB2s, 5 per cent. Exchange
Mexican, 5 per cent.... 28 French, 3 per cent --f. —e.
Di to, 6 per cent, 1825 Dutch, 24 per cent
Peruvian,lB2s,6 per ct. 17 Ditto, 5 per cent..... 994
1, SHARES.
Birmingham and Gloucester Railway (100 p) 78
Bristol and Exeter (60 paid) ... .. 32
Great Western Railway (65 paid) BB4
Ditto New Shares (50 paid)
Ditto Fifths ( 4 paid) 94
Gosport Junction Railway (40 pd)
London and Brighton (50 paid)
London and Blackwall Railway (25 pd) 20
London and Birmingham Railway (90 pd) 169
Ditto Quarter Shares (-5 paid) ... ...... 264
Ditto Thirds (32 paid) • 56
London and Greenwich Railway (20 paid) 71
London and South Western 56
Ditto Tenths O4
London and Croydon Railway (Trunk) l2
South Eastern and Dover (33 paid)... ..;! 161

TRANQUILLITY OF IRELAND.—The charges
of the Judges of Assize to the Grand Juries continue to
exhibit the most gratifying proofs of tranquillity—the com-
bined effect of temperance and good government. Mr.
Justice Perrin, in addressing the county of Waterford
Grand Jury, said he was glad to inform them that the
number on the calendar was very light ; there was not a
single case of homicide, nor any malicious or aggravated
assault; no informations of any ease of tumultuous or vio-
lent outrage of the peace. This was creditable to the people,
to the magistracy, and to those in authority. It was most
gratifying to him, and he was sure, to all present, to notice
the advance of temperance and sobriety which had pro-
duced a moral reformation in the habits of the people. This
was too plain to require any observations from him. It
deserved the support and encouragement of the gentry of
the country. It beat tended to the improvement and
tranquillity of the country. In the city of Waterford,
containing a population of 50,000, there was one person
for trial, charged with stealing 20s. Under these circum-
stances, Baron Richards said it was wholly unnecessary for
him to detain the Jury II any observations. The ccusty
of Waterford Assizes terminated .on Wednesday afternoon.
The cases tried were few and unimportant. There was
no capital conviction. Baron Pennefather, addressing the
Grand Jury of the county of Down on Tuesday; said-
-4' The criminal business, I am happy to say, is remarkably
light; the state of it does credit to the resident gentry
and magistracy, and shows the excellent manner in which
the laws are administered in this fine county?
"
Tn Towgn.—ln accordance with instructions
given by his Grace the Duke of Wellington, the
se:sntdearn
y
entrance of the Tower is now kept open dfit y(. be
l
excepted), until seven o'clopk, r.re• This rue is to
observed until the Ist of November ntaxt, when the eastern
• ,gate is ordered to be closed at, four o'clock, P.

GREAT BRITAIN

AND

TIC. E U NITER STATES.

MENACING REPORT OF THE COM-
MITTEE OF FOREIGN RELA-
TIONS OF THE HOUSE. OF RE-
PRESENTATIVES:

(From the New York Papers received to the 17th
nit.
TWENTY-SIXTH byw theA wcTpacket-shiposAT
.SATURDAY,
CONGRESS.I Westchester.) s, t
Fxß.he s t: .
1841.
Mr. Pickens, from the .Committee on Foreign Affairs, made
the following Report, which was ordered to be printed:—
Thy Committee on Foreign Affairs, to whom was referred
the message of the President, transmitting a Correspondence
with the British Minister in relation to the burning of the
steam-boat Caroline, and the demand made for the liberation
of Mr. Alexander M'Leod, respectfully report--
It sppears that the steamboat " Caroline was seized and de-
stroyed in the month of December, 1837. The Committee
are induced to believe that the facts of the case are as follow :
The boat was owned by, and in possession of, a citizen of New
York. She was cleared from the City of Buffalo, and on the
morning of the 29th of December, 1837, she left the port of
Buffalo, bound for Schlosser, upon the American side of the
Niagara river, and within the territory of the United States.
The original intention seemed to be, to run the boat between
Buffalo andSchlosser, or perhaps from Black Rock dam to
Schlosser, and, should it seem profitable, it was in-
tended to run her also to Navy Island, and touch at
Grand Island and Tonawanda. Her owner was Mr.
Wells, said to be a respectable citizen of Buffalo, and it is ob-
vious his intention in putting up the boat was one of specula-
tion and profit entirely. The excitement upon that portion of
the frontier, at this period, had collected a great many in the
neighbourhood—some from curiosity, some from idleness, and
others from taking an interest in the unusual and extraordinary
collection of adventurous men gathered together at that time
on Navy Island. Navy Island was " nominally" in the British
" territory."
The owner of the Caroline took advantage of these circum-
stances to make some money with his boat, by running her as
a ferry boat over to Navy Island. All these facts appear from
testimony regularly taken (see H. R. Dec, No. 302, page 46
and 39, 2d Session, 25th Congress), and the Committee know
of no legal evidence to contradict them. There is no proof that
any arms or munitions of war were carried in the boat, except,
perhaps, one small six-pounder field-piece belonging to a pas •
senger. The principal object was to run the boat as a ferry
boat from Schlosser, on the American side, to Navy Island, on
the British side. ft is believed that, even in war, a neutral
power has the right to trade in contraband articles,
subject, of course, to seizure and confiscation, ,if taken
within the jurisdiction of either of the contending parties.
What is contraband of war is not always certain. Treaty sti-
pulations frequently include some articles, and exclude others
recognised in the law of nations. Trading in contraband ar-
ticle.; is no excuse for invading the territory and soil of a neu-
tral and independent power, whose private citizens may choose
to run the hazard of such a trade. In this instance there were
no two Foreign Powers engaged in war; but all concerned in
the outbreak or excitement within the British jurisdiction,
claimed to be British subjects, in resistance of the authorities
of Canada, a province of the British empire. Even admitting,
hen, that the Caroline was engaged in contraband trade, yet
it was with citizens who claimed to be subjects of the same em-
pire with those who were styled the legitimate officers of the
Province.
Abstractedly speaking, how was a private citizen to decide
who were right and who were wrong in these local disputes?
And which portion of the citizens of the same province, must
our citizens refuse to have any communication with? But the
boat was merely used for one day as a ferry boat ; and on the
night of the day she commenced running, she was seized while
moored at the wharf at Schlosser, and burnt. Several men were
assassinated; certainly one, who fell dead upon the deck. Now
the insinuation of the British Minister, that Schlosser was
" nominally " within the territory of the United States,
may well to retorted, as we can with equal truth say,
that Navy Island was " nominally " within the " ter-
ritory " of the British Government ; for at the period to
which we allude, the. people collected there had as effectually
defied Canada authorities as any portion of our people disre-
garded ours. Yet British authority thought proper to pass
Navy Island, then in its " nominal" territory, and in the
plenitude of its power to cast the aegis of British jurisdiction
over American soil. This was truly extending over us that
kind guardianship which they had not the ability at that time
to extend to a portion of their own territory, and which re-
commends itself to us, full as much from its assumption aa
from its love of right or law.
The British Minister is pleased also to call the Caroliese
"piratical steamboat." The loose epithets of any one, no
matter how high in place, cannot make the piracy which
the law of nations does not recognise as such. Pirates are
freebooters, enemies of the human race ; and eminent jurists
describe them as ravaging every tea and coast with no
flag and no home. Piracy Oetneti under the concurrent juris-
diction of all nations, Even in the worst point of view that
it can be considered, those connected with the steamboat Caro •
line were but eiders and abetters of others engaged in rebel-
lion. And the Committee are totally at a loss to know upon
what authority rebellion is recognised as piracy. Such con-
founding of terms is resting the case upon epithets, instead of
sound law or facts. But even supposing i to be a " piratical
boat," as the Minister asserts it to be ; yet the moment it
touched our soil it fell under our sovereignty, and no power on
earth could rightfully invade it.
There is no doctrine snore consecrated in English history,
than that every human being who touches the soil of Great
Britain is immediately covered by British laws. Suppose one
of her vessels were cut from the banks of the Thames and
burnt by Frenchmen, and British citizens were assassinated
at night, and the French Minister were to avow that they
acted under the orders of his Government, and that the ves-
sel was " piratical," and the citizens murdered were outlaws
—then there is not an Englishman svhoseheart would not beat
high to avenge the wrong, and vindicate the rights, of his
country. The law there is the law here. And there is no in-
ternational law consistent with the separate independence of
nations, that sanctions the pursuit of even pirates to murder
and arson over the soil and jurisdiction of one of the States of
this Confederacy.
_ .
k.st-
No greater wrong can be done to a countrytran invasion OT
soil. If it can be done with impunity at one point, and on one
occasion, it can be done at another, and the nation that sub-
mits to it finally sinks down into drivelling imbecility. If a
representation of the state of things at Schlosser, and the con-
duct of those who had control of the Caroline, had first been
made to the proper authorities of New York, or of the United
States, then there would have been some show at least of re •
speet for our sovereignty and independence, and a disposition
to treat us as an equal. But in this case, as if to troat our
authorities with contempt, there was no preliminary demand
or representation made.
It is hoped that the outrage was perpetrated by a party in
sudden heat and excitement, upon their own responsibility.
But the British Minister now avows, that " the act was the
public act of persons obeying the constituted authorities of her
Majesty's Province," and, again affirms that "it was a public,
act of persons in her Majesty's service, obeying the orders of
their superior authority."
If this had been the first and only point of collision with
Great Britain it might not have excited such interest, but .
there is an assumption in most of our intercourse with that
great power, revolting to the pride and spirit of independence
in a free people. If it be her desire to preserve peace, her
true policy would be to do justice, and show that courtesy to
equals which she has always demanded from others. The Com-
mittee do not desire to press views on this part of the subject,
particularly as a demand has been made by our Government
upon the Government of Great Britain for explanation as to
the outrage committed, the answer to which it is hoped will
prove satisfactory.
As to the other points presented in the demand made by the
British Minister for the " liberation " of Alexander M'Leod,
the Committee believe the facts of the case to be, that the
steamboat was seized and burnt as stated before, and that a citi-
zen or citizens of New Yoik were murdered in the affray. And
there were reasons to induce a belief that M'Leod was particeps
criminis. He was at first arrested, and upon various testimony
being taken, was then discharged. He was afterwards arrested
a second time. Upon the evidence then presented he was im-
prisoned to await his trial. There was no invasion of British
territory to seize or take him. But upon his being volun-
tarily within our territory, he was arrested as any citizen of
the United States, charged with a similar offence, might have
been.
We know of no law of nations that would exempt a man from
arrest and imprisonment for offences charged to be com-
mitted against the " peace and dignity " of a State, because
he is a subject of Great Britain, or because he committed the
crime at the instigation or under the authority of British Pro-
vincial officers ; much less do we know of any law that would
justify the President to deliver him up without trial, at
the demand, and upon the assertion as to facts, of
any agent of the British Government. If we had
been at open war with Great Britain, and M'Leod
had committed the offences charged, then he might
have fallen under the rules and regulations of war, and been
treated as a prisoner of the United States Government, and
But
as have been subject to the laws of nations in war.
as the alleged criminal acts, in which 11PLeoci is charged to be
implicated, were committed in profound peace, it is a crime,
as far as he may be concerned, solely against the " peace and
dignity" of the State of New York, and her criminal jurisdic-
tion is complete and exclusive. If the crimes committed be
such as to make a man hostis humani generis—an outlaw—a
pirate, in the legal acceptation of the term, then, under
the law of nations, the United States Courts and tribunals
would have jurisdiction. But the offence charged in this case,
committed as it was in time of peace, as far as this indivi-
dual was concerned, was one purely against the lex loci, and,
coming exclusively within the criminal jurisdiction of the tri-
bunals of New York.
The Minister, in his letter of the 13th December, 1840,
says, " it is quite notorious that Mr. M'Leod was not one of
the party engaged in the destruction of the steam-boat Caro-
line ; and that the pretended charge upon which he has
been imprisoned rests only upon the perjured testi-
mony of certain Canadians, outlaws, and their abettors,"
&c. This may perchance all be so, but it would be ask-
ing a great deal to require an American Court to yield juris-
diction, and surrender up a prisoner charged with offences
against the law, upon the mere ipse dixit of any man,
no matter how high in authority. Whether M'Leod
be guilty or not guilty, is the very point upon which an Ame-
rican Jury alone have a right to decide. Jurisdiction in
State tribunals over criminal cases, and trial by a Jury of
the venue, are essential points in American jurisprudence ; and
it is a total misapprehension as to the nature of our systo,T,art!
the
suppose that there is any right in the Federal Esteentelivieo'fu
rest the verdict of the one, or thwart the jurisdiact:
effectually overthrow, and upon a vital point,
other. If such a power existed, and were exerecissepd
reignty and independence of these State!:
ed
with power to de-
The Federal Executive might bo
ces committed against
th
araitte iaveovueld.
liver up fugitives from justice for
.•
a foreign State, but even then it
so, unless it were made matter of treaty
been considered as dor-
snt
pt
ae t
übul obligatory a tTohr s
dutyd o
by :eat)/ arrangement.—But when
mant, until made binding and right loan Executive has h g
against a foreign Power, but for the
from justice for offences .
min h rsgect with offences against the peace and
mightaty
the matter is reversed, andYtiemand is made,b not of fugitives
fparcqty
itnhcaita tahuethect
liberation of a 7—f oUr own States, then it is that the demand
l
dignity
fences were corn
les* we were in a state of war.
'ties does not alter the case, un
sanction of becomes opfreepnoes.toemroiltitsadinutuhdeerexthtreemsaen.
In the Federal Executive by treaty
such cases as the present, the power to deliver rip could not
conic iced rred uponstipulation.
be ..
It could only be conferred in those cases over which likrlsdie_.
Lion is clearly delegated by the Federal Constitution.
those defined in the
Q.ff9c against the &41.,
; t of the States, as defined in the
joined sovereignty s ' • • Coustitution,
for instance, as treason, which i§ an
Ctnetitntiop, and
aver all cases,' except
thosr coming clearly under the law! 44 nations, the States
have exclusive jurisdictiop, and the trial and '
punishment for
offences against them, are incident to their separate
1 t is not pretended in this case that there is any Treatysovereignty.
under which the demand is made , • stipulation
and the Federal Execu-
tive, under our system, has no sow rls is ' - • ' • C Is what conferred by
the Constitntioli, er by spec4l law .. the
former it is qclared thate • . ongress. In
President' of the United S , lecutive power is vested ps
Sts and tla t power then to be
.1 ,
planted out auk goaaoli by §l*. ese,-
ITS p tt
- ...i time to

time, imposing such duties as are thought proper and expedient
by Congress.
Your Committee deem it dangerous for the Executi,ie to
exercise any power over a matter not Conferred by Treaty or
by law; and to exercise it in any casein conflict with State
jurisdiction, would be worse than dangerous ; it would be usur-
pation.

But your Committee forbear to press these points further at
Pr' sent, and they would not have said as muoh on such clear
questions of "international law, but that in this case, the de-
mand for liberation has been made by the accredited
agent of a
great Power, and under circumstances in peculiar aggravation
and excitement.
We have other points of difference with Great Britain',
which add interest to every question that arises between us at
present. Neither our northeastern or northwestern boun-
daries are yet settled with her, and the subject is not entirely
free from difficulty: She has recently seized our vessels, and
exercised a power involving the right of search, under the pre-
text of suppressing the foreign slave trade, which, if perse-
vered in, will sweep our commerce from the coast of Africa,
and which is incompatible with our.rights as a maritime power. She has recently, in her intercourse with us, refusedindem-
nity and denied our rights to property, on a subject-matter
vital to near one half the States of this Confederacy, and
which, considering her military position at Bermuda, and her
growing power in the West Indies, is of the last importance
to our national independence.
All these subjects make every question between us, at this
particular juncture, of the deepest interest.
Besides this, we arc both permanently destined to have, per-
haps, the most extensive commerce of modern nations. Our
flags float side by side, over every sea, and bay, and inlet, of the
known globe.

She 'loves steadily upon her objects with an ambition that
knows no bounds. And wherever she has had a conflict of in-
terest she has rarely yielded to any power.
At this moment she presents to the civilized world the spec-
tacle of the greatest military and commercial power in combi-
nation ever known.

From her vast possessions in every quarter of the globe, and
her peculiar commercial system, she has been made the re3er-
ioir of the wealth of nations.
Her internal resources, skill, labour, and machinery, with
her capital, are beyond calculation. Her natural position,
being about midway the coast of Europe, gives her great con-
trol over the outlets and currents of commerce.
Her military occupation of Gibraltar, Malta, the lonian
Islands, and recently of St. Jean d'Acre, give her ascendancy
on the Mediterranean and the Levant, while St. Helena and

the Cape of Good Hope, give her possession over the currents
of trade along those extensive coasts. Then Bombay, Cal-
cutta, and her immense possession in the East Indies, together
with her recent movements in the China teas and islands, en-
able her to extend her power over those vast regions that Lave
slumbered for ages in solitary and enervated magnificence. She
possesses Falkland Island but to control the commerce that
passes round the Horn—while Trinidad gives her all she de-
sires in the Caribbean sea. Halifax at one point, and Ber-
muda at another, stand out in great force over our own coast

from one extremity to the other:
Her positions all over the world are at this moment, in:a mili-
tary point of view, equal to a million of men under arms. Her
continual conflicts in the mighty regions of the East, only
enable her officers to become skilful and to improve in the arts
of war,.while her great armies and extensive fleets draw their
support from the immense countries seized and occupied. 'lra
the present juncture of affairs, no statesman can overlook these
things. Steam power has recently brought us so near to-
gether, shat
effects will be precipitated upon us with much more rapidity
than formerly.
Avarice and ambition are the ruling passions of mode-•n times,
and it is vain to shut our eyes to the state of thing-, around us.
It remains to be seen what effect steam pow': *is-to have upon
changing and nr,difying the whole art of ;Aefence and war. It
may be a great engine for again Ity;elling mankind, and re-
ducing every thing to a contest of mere ptiysical force. In
that event it might be difficult to conjecture what system of
national defence will stand the tot of time and experience.
We have a deep stake in peace, and fondly hope the rcpwe
of the world will not be disturbed. We have certainly not the
least desire for arty rupture. Firmness and a wise preparation
will long preserve us from such a catastrophe. But while no
tempta,toA should ever prompt us to do injtvtice on the one
hand, so no consideration, on the other hand, should ever in-
duce us to submit to permanent wrong frc,m any power on
earth, no matter what the consequences may be.
Your Committee would conclude by expressing a firm belief
that all the points of difficulty may be honourably and ami-
cably adjusted, and that harmony may long be preserved by
both Governments pursuing a liberal policy, congenial to the
interesis and feelings of WI people, and compatible with the
spirit and genius ut an enlightened age.

DEBATE IN CONGRESS.
(Corresplndence of the Courier and Enquirer.)
WASHINGTON, FEB. 13.
As soon as the House of Repre,entatives assembled this
morning, it decided to spend one hour on the Bill appropriating
$75,000 for carrying on the survey of the North Eastern
Boundary • after the House got into Committee of the Whole,
it was found the Bill had not been returned from the press. Mr.
Cushing offered to furnish a copy—and thereupon a debate
arose as to the propriety of acting upon copies, when the ori-
ginals were not forthcoming. The debate on this point con-
tinued until the hour expired, except a few minutes, when the

true Bill was brought into the House—it was read, and some-
thing- was said about the extravagance of the sum proposed—
the hour run out, and the subject was dropped.
And then came a little storm of war. Mr. Pickens, Clair-
man of the Committee on Foreign Affairs, made a. Report
from that Committee in relation to difficulties with Cheat Bri-
tain. The Report proposes to be made with special reference
to the affair of the Caroline, and the arrest and imprisonment
of Mr. M‘Lcod, arising out of that affair.

The Report was characterised by gentlemen who took part
in the debate which arose on it, as amounting to something
little short of a declaration of war. It is, indeed, a war
Report.
Mr. Granger, of the Committee on Foreign Affairs, de-
nounced the Report, and informed the House that it was
strictly a party paper, and so voted upon in Committee. He
spoke feelingly and eloquently' as to th effect Which that Re-
port would have on the trial of I\ll.end, and upon the conduct
and feelings of the people on the frontier. Mr. Pickens,
when he made the Report, moved that it lie on the table, and
be printed. The Report was laid on the tale without further
eebate. Mr. Grinnell moved that the motion to print be laid
on Ale table. The House refused to lay the motion to print on
the-ttble; .ind then, upon that motion, :he debate upon the
whole subject was thrown open.
Mr. Pickens rose and fell foul of Mr. Granger, and spoke
about his musical voice, and his bag-pipe tones, He de-
nied that the report \vs s calculated to produce war, that its
tendency was emphatically calculated to preserve peace, and
he explained his meaning by saying that when Great Britain
found we were coming up to the mark, when she found that we
teabb4 a.esk settled.
Mr. frorii her
talked
th
ng s
big,
would she
ee
wouldamicably
prepared for war and willing to have it, that when infect
pretensions, we bristled
and all
upand
Mr. Granger made a few observations in answer to Mr.
Pickens, and gave him, as was but fair, a handsome hit, under
the fifih.rib. In alluding to what Mr. P. said about his voice
and his bag-pipe tones., he said that if he could sot thunder
like him (Mr. P.) it was only because his hags were not so
well filled with wind as those of Mr. P. '1 ho laugh was very
generally turned upon him.
Mr. John Quincy Adams made a most admirable and peace-
preserving little speech. He likened this report, and this at-
tempt to embroil us with England, by the party just going out
of office, to an enemy driven out of a city or fortress, blowing
It up or firing it upon taking their departure. He said that
Lord Palmerston would look upon Mr. Pickens's declaration
as to the pacific character of his Report pretty much in the
same light as Pig:ol looked on the salutation of his associate in
the play-4 Goad morning, my dear friend, how do you find
youraelf? No matter ; the fact is, you are a d---. 41
mean, dirty, shabby, sort of a fellow." Mr. Adams held Mr.
Pickens rather uneasy in referring to opinions formerly ex-
ressed by him, in which he was fearful of doing things lest
Great Britain might misconstrue and take umbrage of it. Mr.
Adams's speech was exceedingly coal and conciliatory, and
characterised by great good sense.
'He wished the report recommitted to the Committee, in the
hope that it would he reconsidered, and one more consistent
with the dignity of the country and the facts in the case made
in its place, if indeed a report upon the subject was proper at
all, and he did not believe any was called for.
Mr, Everett, another member of the Committee, made a
Most sensible speech, in which he went through all the facts in
the case of the Caroline, and of M'lLeod from beginning to end,
and he showed conclusively, that it was very improper at this
state of the negotiations between the Governments for this
House to interfere.
Mr. Fillomore followed, and said his part of the country and.
his Qoustituents were more interested in the matter than any
other. lie did not believe the report was of the character
given it by Mr. Pickens—he believed it was eulculated to widen
the breach between the two countries, and to increase the
difficulties already existing ; it was calculated to inflame the
public mind, and would evidently have an improper effect on
the trial of Al‘Leod. He blushed and was ashamed at the
proceedings which were stated to have recently taken placeuirs
relation to that unfortunate man. He rebuked Mr. Pickens
for attempting to frighten Great Britain into doing what was
proper. Ile also rebuked the administration for the defence-
less btiLte of the country. He was for war when war was pro-
per, but he was not for war for party purposes ; he was not for
going to war when wholly unprepared; he would go indus-
triously about pu`ting the ration into a proper posture to
meet the storm of war, before he would do anything.te
ag-
gravate or bring it on. Mr. Fillernore's
_speecn
was
manly and noble. A 3 soon as he concluded, Mr. Vanderpool,
moved the
to arrest the debate, which he deemed mischievous,
to vote on the
previous question,—and the House
proceeded to print all the
question to print. Mr. Everett's propositionand to AfeLeod was rejected,
documents relating to the Caroline
administration man voted,
by a vote of 73 to 100—everycleady
the danger the canna
against it. This vote shows most clearly
decided that just as they
try is in. It shows that it has
t • is determined so to aggravate
are going out of power, the pa
rig
administration in such a
England, as to place thle cat impossible to avoid a desperate
position that it will be
•3
•war, with the most powerful nation
devastating and expensive
on the earth.
then ordered to be printed, without the
'the report waseiiinents, the Administration voting for it to
tt
countervailing
ofrhos the Whigi voting against it.
man ; an" t ent then took place.
An adjournrri

causes
st hwehiwhich
Legislature,
h ave o
UNITED STATES BANK.
ta d that the Directors of the Bank of the United
it forward!
paeuradtedsentryt
unparalleled exertions to maintain specie payments,
defeat their
ding to the requisition of the Act of February, 1840.
StatesWe understand
caritrteninagr e fdorath memorialthe ca
according
have referred to the unholy combination in New York t•
bred.- down the banking interests in Philadelphia, and ha
pointed to the direct advantages which the Commonwealth has
derived from the funds of the United-States Bank. The me-
morial is said to be written with remarkable vigour, and con-
tains facts which cannot fail to give full force to the argu-
ments of its author. The Bank asks for itself what is asked
for the other banki,, and no more.— United States Gazette-

te although htahoose ,ho 1141
MEETING OF STOCKHOLDERS.
The Stockholders of the Bank of the United States in Penn-
sylvania, are requested to attend a meeting on Monday even-
ing, at seven o'clock, at the City Hotel, on ttustriess of lands
importance to their interest.
tt• is understood that about eight ;pillions of stock are repre-
sented on the books of the P:ency in New Yorr
pointed Pursuant to theconvened list night,
at the City liotel. W. P. Furniss'Esq. jun., W, Leavitt,
Pre-
sident D. S. Kennedy,
Leonard S, Suarez, and Eli,ha Rigs,
an
D'oove notice,
dents,; and .1, A. Underwood
Seeretaries.
Tlie meeting
well, Esq., who
beinfveoz Paul Spofford, I..'acirs., Vice-Presi.
and Edmund Lafan, Esqs.e.
lgehetninngtwa.aioca.Pkholder him-
self,upwards of a
rmanized, was addressed by, Hugh Max-
he was
stock.therep_
He spoke in farctqr of a Committee being
million of "vest igate the affairs (A the Bank, &c., and read
appointed t .
• ssolutioes to that effect. When the resolutions were
a tew r€
bowledfYo.re. the Chair, several individuals interfered,
obseresentat
about toged they were not stockholders nor the repre-
whq 84;A
sentativea
• of stockholders; it was in consequence resalved, that
a Committee of five be appointed to draft resolutii3ns, add that
the meeting adjourn intit to-morrow evenirtg, to meet at the
same Dl';e, at seven o'clock ; and that it kle uotified that none
' tit stockholders, or the representatives of stockholders, are in.
[ %sited to take part in the,proceedSs. The_following Committees
rte,- . 4/0
/ t......_