The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-01-19


# intelligence, as soon as il can be forwarded
through the mails. As the affairs of the civilized
world are approaching an interesting crisis, we
have thought this would be an important auxilla-
~ aid in diffusing the earliest and most accurate
general Information. For this purpose we have
engaged no ordinary or inexperienced corespon-
dent but one, as his communications we trust
wlll hereafter show, whose opinions are gener-
ally sound, and whose knowledge is as accurate
as II Is comprehensive
New YORK, Friday, jan 10.
There is unusual dullness in our business cir
Giles at present. January is ever dull business
month in New York-perhaps the dullest in the
year-but think this remarkably So The con-
the habtual failure of mails, and arrangement Of
the facilities for travelling, and now, al last the
destruction of bridges and roads by our tremen-
dous freshet, have doubtless contributed to this.
The anxiety which is fell by the trading classes
with respect to the proposition of General
Bankrupt Law-many eager for its passage,
some opposed TO any measure of the kind, and
others hostile to this that particular form, but
all agreeing that any such law will work vital
change in the relations Of debtor and creditor,
and the currents of trade; also coDspire to rem
der our business men slow and cautious beyond
their won't thorough merchant who has
had losses remarked yesterday that he be-
lieved that in spite of any Bankrupt Law and
any measures Of relief which the Government
may devise, there must be hard times and dull
trade for three or four years to come. He says
the country is Impoverished, in debt, and its
business machinery entirely deranged beyond
the power Of aught but time to restore. There
fore, he hauls off TO repair damages and abandons
the field Of commerce mention this as an midi
cation, not Of general feeling, but Of that which
pervades large class of our citizens. Ny inn
preston is that the exchange of domestic pro-
auctions during the current year will be increased,
but the importation and sale of foreign goods
hardly greater than that Of lS4O
In regard to money matters, you might well
mistake at a distance the aspect Of our stock mar
ket. Bank stocks, &c, are low and have been ra-
pidly falling, but not by reason of scarcity Of
uloHCy. Nv SCHeidi PIeosule cAisis Dul lntIc
is widespread and increasing impression that
our bank stocks, loan companies, &C., represent
a vast amount Of uncollectable and worthless
discounted paper, and are therefore worth far
less than their nominal amount The crippled
condition Of the Pennsylvania mammoth has
strongly tended to this general depreciation Of
stocks. My impression is that the prevalent
feeling in Wall street now is hostility TO that in
stituton, and a determination to drain il Of
specie, and wind it up, if possible, at the earliest
moment. | believe 1t will be drawn on for
80 100000 of specie from this quarter within
week; but if it has obtained the aid in England
Its friends speak of, it can easily Withstand all
attacks, and even retaate them by selling bills
onLondon in our market, and drawing for specie.
/ know nothing specially of the value Of its
stock but think it has been pulled down the
past week by concerted effort on the part of
those who mean to destroy it. CT closed at
4S 1-2 at the Board this morning, an advance of
| l per cent?
| Our Legislature had been week in session
at the date of our last advices from Albany of
course, nothing matured. The most important
| topics vet introduced are Gen. Roots resolutions
proposing amendments of the Federal Consti-
tuition which shall render President ineligible
to reelection, and members of Congress ineligi-
BILE TO Federal appointments and the proposal
of general registration of voters on one hand,
with election in single day, met by counter
proposition to repeal the Registry Law last
e. IL. al. L
resolutions will be somewhat modified and pass.
am sure the Registry act will not be repealed;
and I think Registry for the State, or at least
all the cities, will be established The one day
election will be carried by general consent
The most knotty question now pending at
Albany is that involved in the collision between
New York and Virginia. The case lies in
nutshell. The Governor Of Virginia demands
the surrender of certain citizens of New York
charged with aiding the escape of slave from
the former State. He claims this surrender I'M
der art. a, sec. 2, paragraph 2, Of the Federal
Constitutions person charged in any State
with treason, felony, or other crime" &C. &C.,
shall be delivered up. But Governor Seward
insists that this "olher crime" must be one re-
cognized either by the common law, the law ef
Nations, or the law of the State, required to
make the surrender, and declining compliance.
Hence the present controversy. II certainly has
two sides to it, The Van Buren, members of
the Legislature have been striving to bring it be-
fore the House but the majority very justly de-
cided that il was purely an Executive question,
with which the Legislature could do nothing.
This was the doctrine of Samuel Young, the
Loco-foco leader in the Senate last winter.
The damage sus tanned by the late freshet in
this State was tremendous. A great portion Of