The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1841-09-22

knew himselfintheg glass. He went down
to the landlord, and told him that ne would
never sleep in the .arnal house again, and
get stung up in that way. Why says the
landlord did you not sleep under the mus
quito bar? Johnny replied that ne didn't
know what he slept under. but ne rolled
up the shade on the bed, and got in, and
such tarnal biting he never got before
Here general roar of laug hter burst from
the byslanders, and Johnny mistrusted his
mistake, grabbed his hat, threw down his
change, and made rapid strides for the
steet, amid the shouts ofthe company.
THE WHO NATIONAL DEBT.-Henry
Clay announced in the Senate, on Satur-
day that Congress, at its next session,
will have to provide for another loan!
Fro m the Money Article of the Herald.
The Banktofthe United States having
now ceased business, and its affairs gone
into liquidation, theggreat Pretext tor re-
fusing to pay specie is taken from the
banks of Philadelphia. In January last
those institutions professed their willing
ness to return to honesty; but alleged that
they could not do so while the United
States Bank remained suspended in their
midst. These assertions were so far con-
fded in by the eastern capitalists that they
consented to loan the banks large sums of
money to supply the place Of that which
they alleged was due to them from the
United States Bank. The resumption last
ed but few weeks, and on the final fail.
ure of that concern they all again suspcn.
ded and have continued so up TO this time.
The public have been taxed three to five
per cent depreciation on the currency
furnished by those institutions. What
pretext will those banks find for continu-
ing in this most disgraceful positions! Do
they imagine that the public will remain
quiet under the present State Of things?
they may indeed plead the authority Of
the revenue law, but we apprehend that
public opinion will have as much infu-
ence on the bank movements as those in
stitutions had in causing the passage OF
thatlaw. Not only in Philadelphia, but
throughout the South. the community is
en- masse to put down bank rule.
at Petersburg .hereportof the committee
of the currency reform association appeals
strongly to the interests Of the people to
discontinue the present banking system.
The following is Al. extract:
g. 1.-The distress from Sl9until 1928, pro.
duced by shaving Carolina money, cannot
vet be forgotten here. Like causes pro-
duce like effects, and the same state of
things must occur, unless this gambling
in exchanges be checked by the Legisla.
lure's refusing suspension ofspecie pay +
ments after next January, The time select
ed by the banks and Legislature as being
the most appropriate for resumption.
The banks are now taking four months
bills on New York and Boston, at alfper
cent. discount from the face Of the bills,
and are selling their funds in those places
at three and half TO four per cent, there
by making two TO Two and a half per cent
exchange"
This states the evil in strong terms, and
the remedy is briefly pointed out as. fol-
lows:
"Already we are told that the Georgia
plan ofpaying debts by notes, making the
specie value Of the note the basis, has had
an admirable effect on exchanges"
This is the true course-ifthe deprecia-
ted notes continue TO circulate, take them
for their actual value, and nomore. This
is applying mercantile law, which it is in
every mans power 10 execute, and is far
better lhan going to legislatures with the
matter.
Mr.. Clay is gentleman--he is not
gambler nor drunkard, nor "a, nor pl-