The native American., 1839-08-03

Frank population, tic chief Of the Navy Board
(Mus,apha Bey) having, during an interview with
the Sulian's ship builder, (Mr. Rhodcs) used abu-
sive language, which the feelings of an American
could moi pu, up with; the latter raised his pipe
and broke it on the insolent Ottoman head. The
circumstances of the case having been laid before
the Sultan, every one is anXiousy awaiting Tor
his verdict.
HoLLAsD-,The troops of Holland are quiet
" taking possession of The long disputed territory
of Hamburg and Luxumburg, and the large army
which has been so long kept up by that power on
the Belgian frontier is gradually dispensing.
THE NEW COTTON SCHEME.
Undoubtedly, cotton is most important item
of production and exportation-but il is far less
important than wheat, which is Of absolute ne
cessity. Yet what would be thought Of a con-
venton Of grain-growers from the various States
of which grain is the staple, TO sustain the price
OF wheat against the natural decline produced by
abundant harvesls and an enlarged region devoted
to that culture AS matter of fact, there is
far more apology for such course, in the fall
that has occurred III wheat than in that Of cotton,
for wheat has already fell from ,75 and 50, 90
to $l-that is its price has diminished nearly or
quite one half? But cotton has not fallen yet,
below what these very planters consider an
average remuneratng price IL l-2 cents-and
not more than Is or 20 per cent, upon the higl,
prices obtained last year. Then as to the in,rin
sic value OF the crops. grain and cotton-the for
mer may be estimated, within bounds, at on,
hundred and itcenty millions of bushels-wortf
at an average of ST., the same number of dollars
The 100000 bales of cotton-the great growth
OF the year before last-at $50 per bale, produ,
ces ninety million Of doHars-or 4-9ths less
than Grain raised by farmers ...
Again, it is growing sentiment that needs no
stimulus to excess, that Chartered Banks are hos
tile to natural rights and that the character OF
monopoly with which they are invested, is both
odious and Observation-Disclosures if these
Southern planters should succeed in forming the
league they contemplate with certain Banks,
they will give force and illustration to this SEN
timent, which it will be found very difficult to
withstand. Those who would dispense with
the Banks altogether, would in such an event,
make many converts; and thus, in the prosecu-
tion of an unjustifabe scheme ofaggrandisemcnt
happily impossible, as well as uniustiiabe.-
serious, and possibly irreparable injury would be
done, in public opinion, to the wholesome agency
o6Banks, in the legitimate operations of Com
merce. =s
But we have little apprehension of the success
of this project, however emphatic the declaration
of the Circular, that are mean at least to at
tempt 1t, in despite of an opposition however ea-
ger and lmplacable." The attempt, like that of
Southern Convention for diverting trade to
Southern ports will fail, and for the same reason
that 1t is contrary to the natural and rressti-
BILE laws of trade. Meantime, the annunciation OF
such scheme may, and possibly will, have the
effect OF somewhat aggravating present embarrass-
ments.-N. 7. .4mericcn.