The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1837-10-25

ing them to hold Convention in this city
on the 7th Noysmber, for The purpose of re-
sumIng specie payments in conjunction, or
nesrly co,enporaneous, with the issue OF
Treasury mites. II is highly probable, but
we have rot yet ascertained the fact, tha,
the invitation will be extended to the Phil.
adelphia. Boston, aud Baltimore banks.
With the latter il may be acceptable, but we
doubt whether the United Statss Bank, and
its associates, lciH not attsmpt to fhror some
difficulties again IN the ray. Be that as il
may, there can be no doubt but the bulk of
the banks in this city, aud throughout the
state, will make an early, and, we fear not,
successful attempt to restore that conf
dence so necessary and so much wanted in
commercial affairs.
The only difficulty with the banks here,
AND IN FACT ONE OF THE REAL
CAUSES OF THE SUSPENSION, has
been the large amount of GOVERNMENT
DEPOSITES, phich pressed ike an ineu-
bus upon our commercial interests. The
Newly ork banks have now nearly liquda,ed
their debt to the government-the balance
being only 5000, ,000-and, from the erperi-
ence they haze had of the vdiue of public
funds, IRE do not suppose they piH be ready
to touch pitch again.
1t is remarkable fact that the southern
banks, those of New England, a few in Vir-
ginia, and the banks of NewYork, are in
the best situation to resume specie payment,
while of the S7,000,000 which the banks
now possess of government funds, the great
ar pro portion is in the west and southwest.
With the liberal use of Treasury notes,
which it is now supposed will he paid away
to the public creditor, instead of being sold
to the banks, we have no doubt but the
banks can resume specie payments at a
short day ahead. The foreign demand for
specie has nearly ceased-aud the domestic
demand, so much apprehended by the ac-
ton of the government in issuing Treasury
notes, will not exist. We have, therefore,
very favorable prospect before us, in spite
of the wicked political ngitators of the day.
The October session of the General AS
sembly commences on Saturday next, at
South Kingstown, agreeabIy to adjournment.
1t is not expected that either House will
convene before Monday.
We congratulate the citizens of Savan-
nah on the recent election of the Hon. NJ.
Hall M'Alister, to the office of Mayor of
that city. Wherever he is known, that gen.
tleman is deservedly popular.
The Globe of last Friday evening states,
that SENIOR Don FRANcIsco PizARRo MAR
TrNEz was presented on Tuesday last, by
the Secretary of State to the President, and
delivered his credentials, as Envoy Extraor-
dinary aud Minister Plenipotenliary of the
Mexican Republic to the United States.
RHoDE-IsLAND CENTRAL BAHK.-We
learn from the Providence Courier that the
Bank Commissioners of this State, (fsr rea-
sons set forth in their complaint) on the
l3h inst. applied to the Supreme Judicial
Court sitting in Providence, for an injunc-
ton against the Rhode-Island Central
Bank, in East -Grecnw ich.
The hearing of this complaint was, by
mutual consent, postponed to Friday next
the 9Th inst. at Providence, TO which time
the Cour, has adjourned.
The Courier remarks" 1t is the opin-
ion of competent aud disinterested business
men, that there is no danger of the public
being subjected to ultimate loss upon the
bills"
THIEVES. Two Irishmen, who were ta-
ken up in Providence on suspicion of hav-
ing stolen some clothing, were brought down
here on Saturday last and committed to Jail,
to await their trial the clothing having been
recognized as the same which was stolen
from the entry of the house of b. HAZARD,
ESQ, on Tuesday night, last week.
MORE RoBBERY.-The Observatory, ten
auted by w. S. WALKER, Esq, has been en-
tered within short time, and property
stolen to the amount of more than one hun
dred dollars! GFLook out.
GF@ The ports of Galveston and the
Brassos, in Texas, have been declared
blockaded, by the Commander Of the Mexi-
can naval forces in the gulf
STATE ELECTIONS.
PENNsYLvANIA.-F returns of the elec-
ton in this State have been received, but
not of the votes. Tne Senate will consist
of Is democrats and 9 federalsts (; and the
House, of 81 democrats and 43 federalists
The popular vote in many counties exhib-
its decided democratic gain since the