The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1837-05-17

brought IN, and another, Salofsky, Polish
oncer Ia The Mexican service was killed.
speaking OF him reminds me TO say that
me'e are said TO he a number Of officers,
,1"e :" them commanding brigades, in the
.'ean ermy, who have served IN the
"'.s OF Europe, and are skilled in var.
nno'hef OF these European officers, whose
.,' nave not remembered, was also
two ago. r'
me number Of the Mexican army. all
to'u' marching IN bodies extending alonc n
i'o''' Oh MY or sixty miles. is stated. mon
Information said to be derived from the oc-
hciai returns, at between eight and pire
thousand men; more formidable force
than had supposed until had information
OF the fact snch as cannot doubt.
From the complexion Of the news which
mas just reached US from the seat of Govern
meht OF Mexico, and the determination
e'inced' 50 FAR, from relaxing their meas
nres 10 prosecute The campaign in Texas
WIN all The power Of the nation, | should
not be surprised to hear that by this time,
or soon after this, the two armies or at least
their advance guards will have met. The
result cannot but be looked for with deep
interest by the friends of the Texans for
ni'hough their army is said to have no fear
on' that the Mexicsns will not come OIL,
.hey may be oyer-sanguine. At all events,
! snail look with great anxiety for news
rom that quarter, from this time, and dur
ing all the month of May"
The Circulor.-Had it not been for the
Treasury Circular, the western banks would
have continued to issue their bills in im-
mense quantities; and these would have
been collected in the deposite banks, in
payment for lands, ill they had accumu-
lated to ruInous extent, If the govern.
ment had then called for payment, many
of the banks, if not all, would unquestion-
ably have stopped. The government would
thus have made immense losses, and the
western community would have been, that
the government lands would, in reality,
have been gicen aWay to the spectators.
As it is, the Treasury order has operated as
IA salutary check upon the western banks.
has kept them within their proper limits,
and has thus not only preserved the gov
ernment from loss, but all the holders of
bills, and even the banks themselves. IT
has also served as very beneficial check
upon Tie speculators, and has, in this res
pect also, been the cause of great good.
In fact if the government at such a crisis
had not adopted some measure of this kind
it would no longer have merited the public
confidence. Mr.. Van Buren will undoubt-
edly continue this wholesome order in force
until, at least, the present storm is entirely
past; the shallow wisdom of New York
committees to the contrary notwithstand-
ing.
What was the case mt the close of the
war! The government had taken immense
quantities of these bank notes. When
specie payments we're resumed by such Of
the banks as were sound, many banks be-
came insolvcnt, and the government thus
suffered immense losses. The wisdom and
frmness of General Jackson's admnisira-
lion has saved US from repetition of the
same evil.-Boston Post.
The United States Rank.-Tbis ips,i,u-
ton suspend ed specie payments within two
hours after the other Philadelphia banks.
There had been no run for specie either
upon It or them, but from II consciousness
that 1t could not sust, in the popular ordeal
it speedily followed their example. Wha,
n lesson is this, upon the whole Of our sys-
tenn of banking 1t will lead TO another
and better one, and the whole American
people, whatever may be their sufferings for
u while, will have cause to rejoice. There
can he no doubt that every bank in the Un-
ion will suspend lis specie payments.-Erd
Virginia Elcctions.-The result of the
elections in the Old Dominion is most graft
flying. The relative state Of parties as to
the lumber Of members from the State, will
he the same as in the last Congress, but
the majerilies for the democratic candidate
returned, arc increased. Besides, two new
districts have been gained by handsome
and decisive maiori,e., and the two old
have been lost by very few votes, one of
them by pluralty-two democratic can
didates running, and carrying the majority,
but losing tho election by division in the
ranks. The other, the Norfolk district.
was carried by the wings by a meagre ma
jority, and, as some of them oduit, Alto
gether in consequence of the absence Of the
republican candidate from his own county,
Isle of Wight, which did not turn out more
than half It's republican vote.-Gtobe.
Failures an Boston, to the
Directory, says the Mercantile Journal,
there are in this city, five hundred and
eighty-Gve large mercantile houses and
wholesale stores, Eve hundred and twenty
nine retail, and two hundred and twenty
three petty shops, in all thirteen hundred
and seven. OF this number, there have
failed, since November last, seventy eight