Obrázky stránek
PDF
ePub

considerations than those which regard the general interests of the whole country.

The exchange productions between distant parts of the country is burthened with ruinous expenses, and the prompt collection of debts is rendered impossible. Internal commerce has suffered a check, and derangement is felt in every department of business. The expenses, losses and sacrifices resulting from the embarrassments of trade fall ultimately upon those engaged in productive industry, and cause a depreciation in the value of labor, of the fruits of the earth, and of the soil itself. In the present instance, the evils have been aggravated by a long and severe derange. ment in our foreign commerce. As if the neglect of its appropriate and important functions were not enough, the Federal Government has contributed to increase the general embarrassment, by manifesting a persevering hostility to the institutions of the States, and has disturbed the general confidence by efforts to introduce a metallic currency. The introduction of such a currency is impracticable, and would be unjust if it were practicable, because it would require our citizens, in the absence of necessity or adequate motive, to reduce the value of labor and property to the depreciated standard of specie circulation. To the people of this State, and all who resort to her great commercial market, the measures adopted by the Federal Government to carry this project into effect, have been productive of unmitigated evil, while the earnestness with which our fellow citizens in some portions of the Union sustain those measures, proves that they endure the same evils with a fallacious hope of being able to transfer to themselves a considerable portion of the commerce which is now enjoyed by New York. I trust, therefore, that these measures will receive no support from us, but that whatever influence the sanction of the Legislature may have, will be exerted in favor of a policy that shall immediately restore the prosperity of the Union, and preserve the commercial advantages of our State.

The currency heretofore established in this State through the agency of safety fund banks had a safe and wholesome action while the currency of the nation was regulated by the Federal Government. But that system became odious as a monopoly, and the unequal distribution of its privileges and the corrupting tendency of applications for legislative charters spread discontent and alarm throughout the state. From these circumstances resulted the law which authorizes the business to be carried on by associations without charters.Either of these systems would, under ordinary circumstances, have furnished a currency for this State, which within our own boundaries would have been uniform and readily convertible into specie; and as exchanges are generally in favour of this State, would have been equally useful in other States. Although our banking institutions have not, as on a former occasion, suspended the payment of specie, the farmer, the mechanic, and the merchant, are obliged to receive bank notes whose full value cannot be realized without presenting them for redemption at a distant place. The commerce of the State is embarrassed, and agricultural and manufacturing industry are oppressed with the extortion of brokers and usu

rers.

However the Federal Government may choose to neglect its proper functions, the evils of our domestic currency are within your reach, and I trust they will be the subject of speedy and effectual reform.

It is a high privilege to furnish a círculating medium, whether that privilege be conferred by charter, or enjoyed under the more equal operation of a general law. It partakes of the responsibilities and dignity which belong to the sovereignty of a State, and its profitableness has been evinced by extraordinary dividends and accumulations. It is therefore not demanding an unjust or unreasonable equivalent to require those who enjoy this privilege to maintain a sound and uniform currency. Various plans have been suggested to accomplish this important object. One of these contemplates the employment of the Bank Fund, with equivalent contributions from associations formed under the general law, to redeem in the city of Albany, the bills of the several banks. It is probably a sufficient objection to this plan, that it would pervert the bank fund from its legitimate object, and jeopard its security. A second system is to require the country

banks to redeem their notes either in the city of New York or in the city of Albany. The objection to this plan is, that it would be unjust to require a banking institution to provide funds for paying its liabilities at two places, at its own counter and elsewhere. The force of this objection is weakened by the fact that the operations of trade carry the currency of the country to the principal mart. If the amount of its issues collected at the place assigned for its redemption were to be made known to any bank, it could be required to transmit its funds to that place after a reasonable interval of time, and thus be relieved from the necessity of providing an equal amount to meet demands at home. If this system should receive legislative sanction, the Comptroller might be required to apply the safety fund without delay to the redemption of the balance which a bank had neglected or refused to pay after receiving the requisite notice, if such a balance did not exceed a just proportion of the whole fund. This system has been partially in operation, and is understood to have been very successful. These suggestions are submitted in the hope that they may be useful in your discussions of this important subject.

Revision of the General Banking Law.

The necessity of a revision of the General Banking Law, as recommended in my annual message at the last session, has greatly increased during the past year. It is alleged, and with too many evidences of truth, that the stock deposited with the Comptroller as a basis for circulating notes, has been in some instances purchased or paid for with the notes issued upon the same stock. Such a proceeding is manifestly an evasion of the statute, and care should be taken to guard against it for the future. Some of the associations have issued post notes as currency. This practice is unquestionably a violation of the spirit of the law, reprehensible in itself, and fraudulent to the community.

It ought not to excite surprise that the system of free banking should, in its commencement, have been embarrassed by difficulties, or that institutions should occasionally have been established where they were not needed. When we reflect that we have been for forty years improving the system of banking by incorporations, we ought to exercise forbearance towards one which has just come into existence. In the midst of a pecuniary revulsion only two of the associations have been closed, and they have occasioned no loss to the community. There is, therefore, no sufficient ground for doubting the final success of the system, with those modifications which experience may from time to time suggest.— Among these there should obviously be a plan for the redemption of the notes of the associated banks similar to that suggested in reference to the Safety Fund Banks. While the system affords all the requisite facilities and security for sound and safe banking, it is obviously so much more equal in its operation, and so much less liable to be perverted to political designs, that I trust you will omit no effort to correct its defects and ensure its successful operation.

United States Senator.

Permit me to express a confident hope that you will not add longer delay to that which has already unfortunately occurred in filling the vacancy in the representation of this State in the Senate of the United States.

Executive Power.

The action of the Federal Government, always important, has within a few years past excited unusual interest. Under the system of policy maintained from the foundation of the government, our country enjoyed a career of prosperity, interrupted only by brief intervals in which that policy was counteracted by circumstances arising out of the violation of our rights by belligerent European nations. The country has experienced a great change within the last three years. A pressure is felt in all its interests and throughout its whole extent, and every effort to rise has been followed by greater depression. The Federal Executive, in his recent communication to Congress, extends no hope of relief from these evils, but urges the adoption of measures, the very discussion of which has produced only the most disastrous consequences.

[ocr errors]

We are an industrious, economical, enlightened, and virtuous people. Our prosperity is hindered by no hereditary inequalities of political rights or social condition. We have enjoyed peace and tranquillity for twenty-five years. If then there be any virtue in forms of government, ours ought, if well administered, to secure national prosperity and general contentment and happiness. The power and influence of the Executive Department of the Federal Government, are greatly increased, and the history of that government, for the last few years, exhibits a constant struggle on the part of the Executive to control the opinions of the Representatives of the people. His appeals from their decisions have been tried by popular elections for the first, second, and third time.

In such trials the representative has to contend singly and unaided against the combined influence and patronage of the government. Not content with the already overshadowing powers of the National Government, the President has arraigned before Congress the Institutions of the States, and the States themselves, and has discussed their domestic concerns with as great freedom as if they were responsible to the Federal Government, and were not sovereign in the conduct of their municipal affairs. These innovations furnish a new demonstration of the erior of those who, at the adoption of the Constitution, supposed the Federal Government too unstable, and the power and influence of the Executive Department too limited. The time seems to have arrived, when the adoption of measures to restrain the increasing power of the Executive, and maintain the necessary independence of the States, should no longer be delayed. Among such measures none would be more safe, more effectual, or more in harmony with democratic principles, than amendments of the Constitution of the United States, which should vest in Congress the appointment of the chief financial officers of the government, and limit the tenure of the Presidential office to

one term.

Internal Improvement.

which will be opened to commercial intercourse by the improvements contemplated in that section of the State.

The general policy of prohibiting the transportation of freight on railroads which run parallel to the canals, is not altogether without question. There can, however, be but one sentiment as to the expediency of suspending the prohibition during the season in which the navigation of the canals is arrested by ice. A prohibition at that time operates injuriously to the agricultural interest, and tends to produce a monopoly of the necessaries of life at a time when want and misfortune are felt most severely by the inhabitants of our populous cities.

Enlargement of canal.

Apprehensions prevail that the public credit may become too deeply involved in the prosecution of works of internal improvement. The project of enlarging the Erie canal was adopted by the Legislature of 1835. It arose from the necessity of repairing such parts of the canal, especially the locks and aqueducts, as were worn by time and use. With the great increase of trade, delays and inconveniences were experienced in consequence of the limited dimensions of the canal and the want of double locks. It was manifest, too, that the canal had not completely accomplished the objects of its construction, inasmuch as a considerable portion of the western trade continued to seek a market by other routes.It seemed important, therefore, to increase its capacity, and thereby reduce the expense of transportation. It was maintained that by the use of boats of one hundred tons burthen, instead of thirty tons, the expense of transportation would be reduced fifty per cent. In this view the expediency of the enlargement was incontrovertible, if the expense should not be disproportionate, and the requisite funds could be provided without injustice to other claims upon the public munificence. The act of 1835 directed the enlargement to be undertaken when the Canal Board should be of opinion that the public interest required the improvement, and its extent was sub

It is a source of the highest satisfaction, that notwithstand-mitted to their discretion. It will not, I hope, be deemed ing all adverse circumstances, the prosecution of works of disrespectful to remark, that the first step in this great underInternal Improvement with private capital has not been ar- taking, the delegation of the legislative power to a Board not rested during the past year, but has been carried on with directly responsible to the people, was a departure from the patriotic and praiseworthy assiduity and with great success. spirit of the Constitution, so unfortunate in its consequences, That section of the New York and Erie Railroad, about forty-that it should remain a warning to all future Legislatures five miles in length, which extends from Tappan, on the The expense of the enlargement is now estimated at $23,Hudson River, to Middletown, in Orange county, will soon 402, 63; yet the law by which it was authorized, passed be completed. The result will, it is hoped, vindicate the without any estimate having been submitted to the Legisla whole enterprise from unjust prejudices, and contribute to ture, and with scarcely any discussion. If completed on the hasten its consummation. The Long Island Railroad has present scale the canal will surpass in magnitude every other been extended further into the interior of the Island. By the national work of internal improvement; yet all the responsicompletion of the Utica and Syracuse and the Syracuse and bilities in reference to the dimensions and cost of the enlargeAuburn Railroads within the past year, only one hundred ment seem to have been cast off as unworthy the consideration miles of railroad remain to be finished before our citizens will of the Legislature. The same act provided that after the enjoy the facilities of a passage by steam power from one ex-year 1837 the expenditures upon that work should be so tremity of the State to the other, and the steam navigation of limited as to leave from the canal revenues, without reference the remotest Western Lakes will be connected with the steam to auction and salt duties, an annual income to the State of navigation of the Atlantic. The completion of the railroad at least three hundred thousand dollars, over and above all from the coal mines at Blossburg, in Pennsylvania, to the ordinary repairs and expenditures on the Erie and Chamtermination of the western branch of the Chemung Canal, is plain canals. an event of great importance to the central part of the State, and among its beneficial results we may anticipate an increase in the revenues of that canal.

In 1836, for the first time, an estimate of the expense of the enlargement was submitted to the Legislature by the Canal Board, by which it was calculated at $12,416,150 17. The various surveys directed by the Legislature at its last The Canal Commissioners had previously estimated the exsession with a view to the improvement of the Northern pense of the Genesee Valley Canal at $1,890,614 12, and tributaries of the Hudson, to the extension of the Chemung that of the Black River Canal at $1,068,437 20. With this canal to the line of the State of Pennsylvania, to the exten- information before them, the Legislature of 1836 increased sion of the Black River canal to the St. Lawrence, and to the the annual income to be applied to the uses of government construction of a canal in the valley of the Connewango, have to four hundred thousand dollars.-They also directed the been successfully prosecuted. I transmit brief statements construction of the Genesee Valley and Black river canals, and which have been submitted to me by the engineers engaged provided that their deficiencies of revenue should be paid out in the two first named surveys. I am certain you will not of the Treasury, and authorized a loan of the credit of the withhold whatever of encouragement and support can be ex-State to the New York and Erie Railroad Company to the tended consistently with the financial condition of the State, to our fellow-citizens who feel an interest in these several im provements. I recommend a continuation of the survey of the northern branches of the Hudson as necessary to a more perfect acquaintance with the extensive region of country

amount of three millions of dollars.

The subject was again agitated in 1837. The Canal Board reported that they did not believe the enlargement could be completed at the cost before estimated, for the reason that the plans of some of the mechanical work had been

changed, and that parts of the line had been, and others pro-provement has sustained a severe shock from the discovery bably would be, varied. They stated that the cost of con- that the State was committed by the Legislature to an exstruction was greater than when the estimates were made; penditure of thirty millions of dollars, for the completion of that they did not believe, if prices were the same as at the three works alone, upon estimates of the same works rising time the estimates were made, that the cost of the work would only to about fifteen millions; and calculations exaggerating exceed the estimates, except the increase occasioned by the liabilities of the State to forty millions of dollars have not changes of the plans or of the line. They added that they been unsuccessful in adding imaginary alarm to the consecould not form an opinion of the additional cost of the work quences of past errors, in themselves sufficiently embarrassbeyond the estimates, but they did not believe it would ing. amount to a large sum, exclusive of damages; that the amount The only act which was passed at the session of 1839, would greatly depend upon the prices of labour and provi- appropriating money for purposes of internal improvement sions, and that there had been no estimate of damages to in was one directing the sum of seventy-five thousand dollars dividuals. They also gave it as their opinion that it was for to be expended in the navigation of the One da river. With the interest of the State to proceed with the enlargement. so the exception of an act authorizing a variation in the plan of that it might be completed sooner than was contemplated by constructing the locks on the Genesee Valley canal, by which the act of 1835. It is evident that this report did not tend to a saving of about five hundred thousand dollars will be made shake the confidence of the Legislature in the ability of the in the construction of that work, and several acts directing State to complete the public works, since the House of As- surveys in various parts of the State, there was no other lesembly rejected, by an almost unanimous vote, a resolution|gislation during that session upon the subject of internal imcontemplating the repeal of the laws directing the construc-provement. Aside from the duties prescribed by these acts, tion of the Genesee Valley and Black River canals.

[ocr errors]

all that the agents of the State have been called upon to do In 1838, the late Executive recommended a more speedy in relation to internal improvements has been to comply with enlargement of the Erie canal. It was obvious from the con- legislative directions, given previously to the session of 839, dition of the finances of the State at that time, that this could and to provide, in pursuance of pre-existing contracts, for the not be effected without contracting a debt. The Assembly expenses incurred in the prosecution of the public works by responded to this recommendation by passing a bill directing the canal commissioners. the commissioners of the canal fund to borrow, on the credit | Such are the circumstances under which the public interof the State, one million of dollars for that object. The Se-ests have been confided to our care. The discovery of the nate amended the bill so as to authorize the borrowing of four millions of dollars instead of one million. In this shape the bill became a law. This law required the canal commissioners to put under contract, with as little delay as possible, such portions of the work as were mentioned in their report of that year, and such other portions as, in the opinion of the Canal Board, would best secure the completion of the entire enlargement with double locks on the whole line.

Estimates.

It was reserved for the Assembly of 1839 to discover that the estimates which had been the basis of such important legislative action during the preceding three years had been widely erroneous. The canal commissioners were required to review their estimates of the unfinished works. They reported that the expense would be as follows: Of the Erie canal enlargement, Of the Black River canal,

Of the Genesee Valley canal,

Making an aggregate of

$23,402,863 02
2,141,601 63
4,900,122 79

$30,444,587 79 instead of $15,375,202 49, the original estimated costs of those works.

The practice has recently obtained to some extent of test-
ing the expediency of any proposed improvement by adding
to its estimated cost the real and nominal indebtedness of the
State, together with the sums for which the credit of the
State is pledged or in any event authorized to be pledged, and
of assuming that the aggregate will be the debt of the State
if the proposed improvement should be adopted. This test
has also been applied to the undertakings in which the State
has already engaged, with the following results:
The existing canal debt for works com-
pleted, (exclusive of the Erie and
Champlain canal debt, for the pay-
ment of which a fund has accumulat-
ed,)

The debt of the General Fund,
The aggregate sum for which the credit
of the State has been heretofore
pledged and directed to be pledged in
aid of canals and railroads,
Estimated cost of the enlargement of the
Erie canal, and the construction of the
Genesee Valley and Black River ca-
nals,

errors of our predecessors has happened at a time when con-
fidence is impaired, property depreciated, the sale of real
estate arrested, and the currency disordered. At such a pe-
riod the financial difficulties of the State are liable to be
exaggerated, its resources undervalued, and its liabilities
magnified.
Conclusion in next number.

Stocks.-The New York State Stock, 5 per cent., 1845, to 1860, 8; Ohio State Stock, 6 per cent., 1850 to 1860, 844; Pennsylvania State Stock, 5 per cent., 1854 to 1865, 75; United States Bank Shares 167; do Bonds 6 per cent., 1841 to 1842, 93. No improvement on American Stock.

LONDON, Nov. 16.-In the Gazette of last night we have the return of the quarterly average of the weekly liabilities and assets of the Bank of England, for three months from the 20th August to the 12th instant. This document is at present looked for by all classes engaged in trade, with more than usual degree of interest; and we are apprehensive that the return will, in some respects, produce disappointment, as indicative of a less favorable state of affairs than was pretty generally anticipated. Compared with the three months from the 23d July to the 15th October, the circulation is now 17,235,000 against 17,612,000/. being a diminution of 377,000, the deposits are 6,132,000. against 6,734,000., being also a decrease of 602,000, and making the aggregate of the liabilities 23,367,0002.

The securities are now 23,873, 007. against 24.939,000/%. being a decrease of 1,066,000l. The bullion is by the present return, 2,545,000l. against 2,525,000l. being an increase of 20,0007. and making the total of the assets 26,418,000/. The surplus, or rest, as it is technically denominated, is 3,051,000l. against 3,118,000/., which is a diminution of 67,0001. during the past month.

Dismal Swamp Canal.-The following shows the commerce of the Canal, during the month of November last. Passed the South Locks Inwards, 76 schooners

$3,476,859 66
2,472,217 92

[merged small][ocr errors][ocr errors][merged small][ocr errors][ocr errors][merged small][merged small][ocr errors][merged small]

4,610,000 00

[merged small][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors]

30,444,587 44

[merged small][merged small][ocr errors][ocr errors][ocr errors][merged small][merged small][ocr errors]

10 sloops 14 lighters 72 schooners

[blocks in formation]

Review of the Weather, for Decem

ber 1839.

The month came in weeping! and it wept a part of almost every day until the 16th, when the tears congealed and descended in the form of snow. The springs and mill streams being then full, winter commenced in rather a mild form. We learn, however, by letters and newspapers, that the weather was severely cold in a part of the West, the North and the East. So early as the 25th of November, the cold was so intense, for a few days, in Indiana, that the mercury sunk to three degrees below zero, and in some other parts of the West to seven below, and snow fell several inches in depth. The coldest day that has been experienced in this city the present season was the 26th of November, when, (between daybreak and sunrise) it was fifteen above zero; but it soon became moderate, and continued so until the middle of December, when a steady cold commenced, which closed the canals, the Schuylkill, and the northeastern branches of the Delaware above Kensington, to Trenton, &c., so that the up-river steamboats were obliged to discontinue their trips for the season, on the 18th of the month.

It rained a part of the 1st, 2d, 3d, 4th, 7th, 8th, 9th 10th, 11th, 12th, 14th, 15th, 220, 27th, and 28th.

A very little snow fell on the 16th, 17th, 27th, 28th, and 29th. But on the 22d and 23d we had from eight to ten inches; and from the other side of the Schuylkill, as far west as we have had any particulars, there fell in many places from eighteen to twenty inches.

From the 14th to the 16th, snow fell in Connecticut to the depth of nearly two feet; also about the same quantity in the interior of New York and in almost all the New England States, accompanied with violent gales of wind from the N. E. The shipping suffered very materially in the harbours of Boston, Salem, Marblehead, Cape Ann, Newburyport, &c. Out of sixty sail of vessels (principally coasters) which put into Gloucester (Cape Ann) for a harbour, twenty-two were totally lost, with their cargoes and most of their crews. The remainder were all dismasted and otherwise injured. Twenty dead bodies were found on the beach, and it was supposed that not far from fifty perished at and near that place alone.

On the 224, another violent snow storm, attended with a high northeast wind, was experienced at New York, which also extended on to the far east, doing much damage to shipping, &c. The roads were so blocked up as to prevent the mails from arriving for 12 to 24 hours after their appointed time. This storm was very extensive, and at many places very violent. There was wind enough, however, in almost every place, to blow the snow into high banks, so as to render the roads impassable. The cars and stages were two or three days coming from Lancaster county to this city, which is short of fifty miles. The roads from Wilmington to Baltimore and Washington, were rendered impassable for two days.

The northeast gale of the 2d, was so severe at Cape May and the Breakwater, that two schooners were driven on shore at the former, and one at the latter place, besides other vessels receiving injury.

The average temperature of the month just closed was 34, viz: at sunrise, it was 32; at 2 o'clock, 39; and at 10, P. M., 33. That of the corresponding month of last year

was 29.

The average of the whole year 1839 was 52; ditto 1838, 52: ditto, 1837, 52: ditto, 1836, 52; ditto, 1835, 52. The greatest variations for 26 years was only three degrees. The equilibrium of the years is truly wonderful.

The quantity of rain which fell during the past month was 64 inches.

It is said that more snow has fallen during the month just closed, than any previous month of December, for thirty years.

The British Queen steamer left New York on the 2d December with 43 passengers and about one million of specie.

The Liverpool steamer arrived at New York on the 5th,

bringing 48 passengers; and she left New York again for Liverpool on the 15th, with 31 passengers and eleven hundred and thirty-one thousand dollars in specie.

The receipts on the Harlaem railroad for the last six months, were rising $70,000. This is a short but very productive road, running from the city of New York to Harlaem, a distance of about nine miles.

Mr. Brunel, in England, has discovered a mode of obtaining a railroad speed of 200 miles an hour.

The receipts from the work done by 493 convicts in the Ohio State Penitentiary, from December 1, 1838, to December 1, 1839, amounted to $54,0 0.-The expenses were only $35,000; leaving a nett balance of $19,000 to the credit of the State. The State of Ohio understands managing its affairs much better than many other members of the

Union.

A large fire occurred in New York on the night of the
14th, destroying buildings and goods estimated at $650,000.
C. P.
Philadelphia, January 1, 1840.
U. S. Gazette, Phila.

A heavy Snow Storm in Connecticut.-We learn from a gentleman who came down in the N. Haven boat yesterday, that it commenced snowing at N. Haven about 10 o'clock on Saturday night and continued until Monday morning, during that time the now fell to the depth of twenty inches on the level. The cars which left on Monday morning were in sight at 2 o'clock P. M., at which time the boat left.— The Eastern mail due here on Sunday evening, did not arrive until last evening, yesterday's mail being still due. The mail carrier reported that the snow at Mamaroneck, Westchester county, N. Y., was nearly two feet in depth, and that most of the distance from New Haven to that place, it was up to the bottom of the mail coach. It is said to have been the greatest fall of snow, in the vicinity of New Haven for several years.-Jour. of Com.

The number of steamers now afloat on the Western waters is stated in the Cincinnati Almanac to be 327. Of these 88 were built at Pittsburg, 61 at Cincinnati, 19 at Wheeling, 14 at Jeffersonville, 13 at Louisville, 10 at New Albany, and the residue in various places-38 are owned in Cincinnati. The total cost of them exceeds five mil lions of dollars, averaging about $15,000 each. The steamboat trade is not on the advance, the losses in it being frequently very heavy.

Bank Issues.-The Court in Bank, at Columbus, have

decided, that every description of bank issues, payable at

an after date, and assuming the form of circulation, is illegal, and a violation of the charter. We, of the Gazette, have insisted upon this, and laboured to prevent our banks from attempting these issues, but without success. We wish them safely out of the scrape.-Cincinnati Gazette.

Legal Decision.-In the Supreme Court of Massachusetts, it has been decided, that a grandchild born eight months and a half after the decease of the grandfather, is included in a bequest to "grandchildren living at his decease."

The Atlantic Insurance Company of New York, have declared a half-yearly dividend of fifteen per cent. The Express observes: The success of this company is truly astonishing, and even in seasons of great disaster, it keeps up its dividend.

Seamen Registered in 1839-The number of seamen registered in the ports of the United States, during the year ending 30th September, 1839, is, as far as returns have been received by the Treasury Department, 7678. Of this number, 3085 were registered in Massachusetts, 1241 in New York, 1063 in Maine, 640 in Rhode Island, 192 in Connecticut, 151 in New Hampshire,-the residue, in other 'States.

1910.]

UNITED STATES CIRCUIT COURT.

Judge Betts presiding.

The President, Directors & Co. of the Hampden Bank, vs. Edward M. Morgan, Henry F. Morgan, Knowles Taylor and William H. Jessup.-This was an action to recover about $14,000, being the balance of an account. The action, though nominally against all the defendants, was virtually but against Knowles Taylor, the other parties making no defence. On the part of Taylor the defence set up was that he had been only the special, and not general partner of the other defendants, and as such, was not liable in the present action.

From the New York Journal of Commerce.
THE AMISTAD AFRICANS.

Judge Judson, on Monday, pronounced his decision in the case of these negroes. He declares them free, with the exception of Antoine, and decides that, by virtue of existing laws, they ought to be committed to the care of the United States government, for the purpose of being restored to the land from which they were stolen. This decision will give general satisfaction, and we understand it will not probably be appealed from. Ten days, however, were allowed for an appeal to be taken, if desired by any of the parties interested; otherwise a decree will be issued on the 23d inst. in conform

sons who have not leisure to read the entire opinion, we will state the principal points, which are as follows:

It appeared that in the latter part of December, 1836, Tay-ity to the decision here given. For the sake of those perlor and the other defendants formed a partnership, in which it was agreed that Taylor was to put in $75,000 and be only a special partner. This partnership was advertised in the usual way, and the other requisitions of the law complied with as the defendant alleged.

1. That the District Court for Connecticut has jurisdic tion; the schooner having been taken possession of, in a legal sense, on the "high seas.'

sustain their claim and therefore their libels be dismissed.
5. That Ruiz and Montez, through the Spanish Minis-
ter, have established no title to the Africans, as they are un-
doubtedly Bosal negroes, or negroes recently imported from
Africa, in violation of the laws of Spain.

2. That the libel of Thomas R. Gedney and others, is The advertisement announced the formation of the partnership under the different names which composed the firm, properly filed in the District Court of Connecticut. 3. That the seizers are entitled to salvage, and an apand also contained the word Company, and it was now contended that the use of the word Company was contrary to praisement will be ordered, and one-third of that amount and the express provisions of the statute relative to special part-cost will be decreed just and reasonable. 4. That Green and Fordham, of Sag Harbour, who claim nerships, and rendered all the members of the firm general partners. It was also alleged that there was not sufficient to have taken original possession of vessel and cargo, cannot proof of Taylor's having put in a cash capital of $75,000 and that if he had done so, he afterwards withdrew it. In proof of the latter allegation, it was shown that during the existence of the firm, which failed in about three months after its commencement, Taylor had obtained small sums at various times from the firm. But in relation to his having paid into the firm the cash capital of $75,000, it was so fully proved as to admit no doubt of it. It was also contended on the part of the plaintiff, that the certificate of the partnership had not been sworn before the proper officer, as it was sworn before the Recorder, who is not a judge of the county court within the meaning of the law.

The Court charged the jury that it was conceded that a cash capital must be paid bona fide by the special partner, and if he fails to do so, he is to be considered a general partner. But the Court held that the certificate and affidavit was prima facie evidence that the money had been paid, and required no further evidence until this proof was impeached by the other party, and evidence adduced on their part to show that the money never had been paid. But in the present case, besides the certificate and affidavit the defendant had also produced other proof that he paid the money.

If the jury found the fact that the defendant had not paid in the capital, they should on that ground find a verdict for the plaintiff.

The Court also ruled that the word "Company," in the title of the firm, rendered the defendant and all the other members of it general partners.

The Court considered that the withdrawal of part of his capital only rendered the defendant responsible to pay it back, but in order to raise the point of law, it was necessary to ascertain the fact, and the jury were to say whether he had withdrawn any part of his capital.

The jury would, therefore, find two facts, whether the defendant had paid in the capital, and whether he had withdrawn any part of it. And then on the other questions of law involved in the case, the jury would, under the direction of the court, find a verdict for the plaintiff.

The jury find that the sum of seventy-five thousand dollars was paid into the concern of E. M. Morgan & Co. by the defendant, Knowles Taylor. They find also that no part of said money has been withdrawn by the said defendant.

And under the charge of the court, they find a general verdict for plaintiff in the sum $14,116 29 cents. For plaintiff, D. D. Field.

For defendant, E. H. Blatchford and G. G. Moore.

N. Y. Sun.

6. That the demand of restoration, to have the question tried in Cuba, made by the Spanish Minister, cannot be complied with, as by their own laws it is certain they cannot enslave these Africans, and therefore cannot properly demand them for trial.

7. That Antoine, being a Creole, and legally a slave, and expressing a strong wish to be returned to Havana, a restoration will be decreed under the treaty of 1795.

8. That these Africans be delivered to the President of the United States, under the 2d sec. of the act of March 3, 1819, and the 1st sec. of the law of 1818 still in force, to be transported to Africa, there to be delivered to the agent appointed to receive and conduct them home.

[merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][ocr errors][ocr errors][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small]

We are informed that the Board of Underwriters, of this city, have advanced the premium on all risks on decks of

The thermometer at the Shaker village, near Albany, was vessels to three times the under deck rates, for the winter down to 20 degrees below zero, on Thursday.

months.-N. Y. Jour. of Com.

VOL II,-8

« PředchozíPokračovat »