The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1857-10-30


fully discharged, by The sale thereof, or other
wise. Provided, That the said instrument or
instruments of writing BE- recorded in the office
Tor recording deeds, in the respective counties
wherein said companies transact business. with
in thirty days from the execution thereof
PovIdrd further, That this act shall continue in
force until the first day of February, 1859. and
no longer, unless extended by subsequent leg
slation.
The ScARcITy OF SpgcIE.-In the United
States we produce yearly supply Of gold 10
The value Of sixty millions Of dollars. Il is
computed that the amount of the precious me-
tails in the country is equivalent to two hundred
aud seventy millions Of dollars. Yet, strange
to say, we are in want of coin for the ordinary
operations oftfade; and all the backs have sus-
pended the payment of their debts on the pre-
fence of an inadequate supply OF specie
Apparently this is very singular state of
affairs, bat in point of fact the mystery is sus-
crptibe OF an easy explanation. In virtue of
an inconteStble principle Of political economy.
sound currency is always driven out OF crcu-
lation by deprecated currency. The multi
pIication of Banks and the infinite use of their
circulation during the last fdw years, in a great
measure superseded The necessity OF any other
currency; and of course the precious metals
were exported 10 points where they were in
greater demand. Hence the comparative scar
city Of specie in the United States. Tn Illus
tration OF this theory, We may mention the fact
that, when in the commencement of the present
financial troubles, demand for specie exhibited
itself in New York, instantly the current turn
ed, and gold and silver began 10 pour into the
country from Europe.
And this would have continued TO BE- the case,
but for the action of the Banks. As they crea
ted the scarcity of coin in the first instance by
the undue expansion of their currency, so again
they arrested the importation of the precious
metals by the suspension of specie payment,
which still farther depreciates their notes and
disconrageS the demand for gold and silver
The tide has turned again, and the precious
metals are now being exported to Europe. The
last steamer, the Fulton, carried away S5l 900
IN specie. 1t is evident that under the present
system of suspension. matters will only grow
worSe.--Richmond South.
THE CONSTITUTION OF OREGON.
The constitution likely, according TO the last
accounts, 10 be adopted by the Oregon conven-
ton contains some remarkable provisions. 1t
grand JnrIes as nnnecessary-th preliminary
examination before magistrate previous to COM
initial being deemed sufficient. Ii provides
that there shall be DO lieutenant governor; that
the secretary OF State snail exercise the unc-
tlons OF governor pro tem. in case Of the death
OF that functonary; and that the governor shall
also be treasurer OF the State. The number Of
members Of the State senate is limited to fifteen
and that otthe assembly TO thirty, with biennial
sessions. The pallot is abolished at elections,
and Ufca voce voting substituted Judges are
declared ineligible for any office not judicial
during the period for which they are elected,
and tor one year after municipalities are abso-
lutely prohibited from contracting drpts and
bank charters OF every Ipion are forbidden.
With regard to the question Of slavery, il is be-
leved that two clauses-one iesaliZing and the
other prohibiting slavery BE- app ended to
the draught Of the constitution, to be adopted or
rejected by subsequent vote Of the people
Washiagton Union.
FILLlBUsTERlsM To Eg Sroppnp.-Orders have
been given, the Washington correspondent of
the Baltimore Sun SAYS, for fitting out with
despatch the swifteSt war steamer Of the navy,
for the purpose of intercepting or preventing the
new expedition of General Walker for Central
America. These orders, probably resnlt from
the report that Gems. Walker and Henningsen
| had arranged an expedition which was TO depart
either from New Orleans some other southern
| port. The Government, il is believed, acted on
information received in response 10 the circular
issued from the Department of State about
month ago, addressed to The Uuited States Dis
trict Attorneys, Marshas, &c, requiring them
to exercise due vigilance for the detection and