Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-10-23


Letter if0rn sans.s s. Sc ew YOEk
Herald:
Since isft Eoadon. Ii7 iiS-ssI
vera tn .nciai and conn ln0Feneuts
have taIens ace lela I'll 81 fllln ~
important 20 the United Sisica -One Of
these IN the heeociafion Of tie South Ca.
roIina loan, under The management Of
Gen. James Hamilton. 1his loan3 iss4of
Il 81 000,O0Q5 Of which he fFst instalment
4 Of 100000 was shipped "a spec;e for
/ Charleston few days ago. ne nego-
ciatOr here Is tie famous j. Horssly Pal
msr, 'of9hs Bank 6fEngidnd, VAois The
q Biddlaiof tsat insiiiufidnz General Is
Hilton resided At Isone's Hoiel, while mi
London, and rFeturps.n The Ggeat, est
II ern tomorrow.
This loan pissrh, is connected with Be-.
I sVeFalimpOtant ohjects bota0f ai political
lapdTfnancal nature. QRe Of these plans
is to establish q direct trade 10 Charles.
ton, and to give The go.by q New
York. soos F2iis2iaiss zee - sssa
Gen. Hamilton himself has entered
commercial Business, and inlehds8o begin
a new era in the South, To- Horssly.
Palmer he was very communicating,
particularly in his views connected with
the new movement preached BY Mr.. Cal
hous and his friends in the South. z5qes
The new great bank, in South Caroli-
na, with a capital of S12,QO0,OO0, IS, TO.
form the centre Of those commercial and
political operations, which are intended 10
make Charleston the capital Of the South,
andtocug the wings of New York and
New Orleans. This bank is connected
with rail-reads reaching 10 the Ohio and
Mississippi. It's also authorized to es-
tablish BRANCHES ia. several Saies. The
whole movement is intended not only 70
put d stop 70 the operations Of Mr.. Bid
die ia the south, but also to shake the
commercial and financial supremacy Of
New York. Horselg Palmer has 20 par
ticular liking to Mr.. Biddle, and l learn
thai. he entered into the arrangement OF ne
gociatng the South Carolina Bonds with
great avidity. - = a'fS eng p
II will be seen, therefore, that two
mighty movements, both proceeding from
the Bank Of England are directed 10 athe
United States for the purpose q of con-
! tracing, or curtailing the operations of
Mr.. Biddle both north and south. dl-
lude to the negotiations ofothe Barings
and Prime & Co.. for New fYork-and
those Of Horsely Palmer and General
: Hamilton, for Charleston. The centre Of
q both is the back pariour Of the Bank of
9 England. 800 isoE II 551oWs9s
This IS the view here=e5ut the purpos-
2 Is Of The Carolina 6naneies are not con-
beyond. Believing that Mr.! Van Bd 1's.fi
T is to be defeated BY Mr.. Clay Ia 1910.
Mr.. Calhoun and his friends are organ
{ gzing a political and financial BoyOment
in the South, TO retake The soYereignitv. of
the Union in 1914. The centre of all
these Complicated operations IS Charleston,
and fheir means, the creation Of large
bank--the construction of railroads.&c.
west, and the establishment ola direct
trade to Europe. These men believe that
Van Buren, rose TO power through The
commercial and financial greatness of
New York, and they are determined to
try the same system il the South.
Mr.. Calhoun is therefore, no loco foco.
although he supports, The self Killing poll.
Icy of foolish Van Buren,. He is merely
playing his pat ofthe great game to put
: out Of the way Van Buren,, BiddIe and
Clay, and am not sure but be may sue
coed in I644Anot sooner. aa8'a7ss
But the success Of this magnificent
political Prcjectnow set il movement by
the once &c ebrated nullifers does not me-
cessarily involve the success of. the com.
mercial part Of it. do not believe that
Charleston, on any Southern Atlantic port
can rctard the rapid growth osempife'
Of New York and New Orleans. hIndesi
l know the fact, that there are elements
at work here, which win entirely defeat the
plans Of general Hamilton. have means
in London Of knowing these matters, bet.
terthaHs he,can hare. LlstTne lift the cur
tain little 81 81 ah bHnauaaf GA
the power Of steam viii IN tenayears.
oyerturn every existing Calculation.
venture to predict that IN i've years. or
ten at least. lie Who trade between Eu-
rope and America mill Be carried ION IA
largeoceo steamers have seen aseRe-
raj calculations already, based on tho facts
developed bv the Great Western. that it
is at least 5 per cent cheaper to transport
the cotton from America to Europe HI
large steamers, tan u the present class
J Of sailing vessels Heretofore We have
supposed. that except for passenesrs,
steamers could not Touch TIE sailine YES
sells. !. This IS entirely an error, and f.
cures prove have not time to 90 in-
10 the Calculation but am satisfied Of its
truth. TIE primo element in this sin.
. gular result IS lime he saving of time.
Large ocean steamers can do the same
work ID less than halfth time that sail
ing ship takes. OF course, tine is money
and If time IS saved, capital and expens
dtnfe IS saved.
! But this IS not alIs The experiments
trying here % sieam-and the improves
menls already made. satisfy me that tie
5 application ct steam only ii It's infancy.
s Kiua few days, steam vessel of240 aons
!, bulk entire i Oh anew plan, viii Be launch.
J ed into tie Thames The paddIsof this
) vessel IS placed n tfs stern, and ID the
3 forrnof asinele screw nsmoosh aier
& Der speed s calcrlaied & 16 niles e. hour.
s The pr9ieetor have seen. and b l1.d llls
i tic IS coming DOT "a New FORK u b
81 soon as feV es seeties 81 m s