Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1833-11-14

There is q rumor in circulation, en-.
titled to we do not know what credit
that the Secretary of the Treasury has
apprized the President that he finds he
cannot get along with his adminis,ra.
ton of the Finances, now that the
Treasury is deprived of the services OF
the Bank of the United States. II is
even rumored that already the folly of
the change in the Government de.
Pcsites has become so apparent, tina,
they are to be restoredl Our readers
VIII not understand US as vouching for
the truth of these rumors, which came
thick and fast one upon another. When
zoe believe them, we shall plainly tell
them so. For the present, we doubt
whether the Treasury has vet had a
taste of the quality Of its new financial
agents; It happening very fortunately
for the Government that there are
funds still in the Bank ofthe United
States to be drawn upon. When the
time comes for drawing on The net
banks, we shall see how they will bear
IT, and how the Secretary of the Trea.
sury will get along with them.
Nat. Int.
The Blessings Of 0fiee.-we take the
following fair picture of political life, from
New York Evening Star II will be re
membered that Major Noah. the editor
lately held the office Of Surveyor in the
Custom House. He is therefore qualified
TO speak understandingly upon the sub
ject
at is better TO open oysters and to roll
wheel barrow and earn half loaf Of
bread by honest labor, than TO be reduced
to the miserable uncertainty OF holding an
office. He must play false TO get it, and
surrender manly independence to retain it.
The result of this mistaken zeal s. anx
iety for office, has produced an army of
ineumbents and erpecfanfs. and this army
is moved by the will ofone or two persons.
the repositories Of power. and thus ruling
the country by the patronage of the PEG
pie. or by an abuse of its patronage, will
before long produce a revolution in politi-
cal affairs, which will be sadly overwhelm-
ing when it overtakes its victims"
The following article, showing the
i'll effects already experienced in the
South by the planting interest, from
the Presidents hostile movement n.
gainst the Bank Of the United States,
is from the Fayetteville Observer, one
of the most sensible papers IN all the
South, and one of the most candid and
in the whole Union. Ii
was one, moreover, which espoused
Gen. Jackson's election; and its test.
mony against the Presidents late ar.
bitrary act is entitled to the more con-
sideration on that account:
Nat. Ite1Igencer.
EFFECTS OF THE WAR UPON THE BASK.-It
has been said that the Southern and Western
States will be the chief sufferers by the removal
of the Deposites from the United States Bank
We incline to believe that the prediction will be
verified. At any rate, ii appears that we arc to
be the first sufferers. Heretofore, for several
years past, our merchants have been enabled TO
dispose Of their Bills Of Exchange TO the Banks,
at par, merely allowing interest for the time they
had 10 Since the removal OF the Deposites,
the mother Bank has addressed Circular TO the
Branch at this place, directing that in future no
Bills be taken except at discount of per cent
from those payable at the North, and ID per
cent. from those pay able at the South. II is gen
orally believed that the Bank has been driven TO
this course by the appreh ension, probably too
well founded, that the hostility Of the Executive
will prompt to some means of embarrassing the
ono attn RI Snnfh of, .nI hat fha
officers will be obliged to incur heavy expense
TO prepare for such an emergency by transporting
specie. AS measure Of self defence, the Branch
of the Cape Fear Bank has been obligedto adopt
the same rule
As some of our readers may not be familiar with
the course Of this business, aword OF explanation
may be acceptable. A merchant in this town
purchases 100 bales Of Cotton from planter, for
which he pays s 5000. He ships il to his agent
in New York, or elsewhere, and without wait
ing for its arrival there. its sale and the remit
lance of the funds, he draws bill upon his agent,
gets il discounted at one Of the Banks here, and
is Immediately placed in funds for the purchase oil
another hundred bales. Now if the Bank requires
one per cent. for aifording him this accommoda-
ton, it is evident that the value Of the 100 bales
Of Cotton is diminished just s So The loss there
fore falls upon the Planter. not upon the mcr-
chant And aswe think il is not an over-estiinate
that So, 000, 900 Of such bills are annually dis
counted here upon the produce Of all kinds pur-
chased, il results that the growers OF that produce
are injured TO the amount Of S20,0O0. When we
reflect that the same regulation is to be made 4
apply to all Southern markets, what an immense
amount must be lost TO the South in consequence
of the arbitrary act Of the President. There il
no alternating consideration. The Banks do moi
make the money thus wrested from the people.
They have to expcnd II in transporting specie z
secure themselves against run. This is consi
dercd here but the beginning Of evils.--Fay-
cite Observer.
FALL MEETING 1888.
MCPHERSON COUNTY JOCKEY CLUB
First day, purse $500 Four miles and repeat
Mr.. S. Strider's CHI s. C, Tyrant, 4 years
1 old, by Johanna, dam by Tom Tough,
Mr. l.. Harbaugh's 5. C. Maj. Jack Down
ing, 4 Us. old, by Rather, dam by Oscar,
Mr. j. B. C. Snodgrass' s. {. Velocity, Us.
| old. by Sir Charles. dam by Bell,s Eagle 3 d