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process is going on. The inhabitants of the provinces are waked up to a sense of their political existence and consequence; the right of suffrage is understood, and valued, and exercised ; the recurrence of elections brings up the merits of men and of measures for examination ; representatives assemble to legislate, and acquire new light by mutual discussions of important topics. A portion of this light is diffused among the people, and is already producing most salutary effects. It will increase till it enlightens and animates every corner of the country. Nor will its effects be merely local ; the gain in one part will be felt in another, the example and progress of one province will stimulate others, and by this advancement and reaction of intelligence, and the fruits of experience, the foundation of the best form of gorernment will gradually be laid, which will stand firm against the shock of any future accidents.
From the official documents, and public papers in Mexico, nothing is clearer, than that a strong European interest exists there, somewhat to the prejudice of this country. Considering the loans, which the government has obtained from England, and the great amount of capital from that country now employed in the mining business, this bias may doubtless be referred to a natural source. How far it will operate to our disadvantage, in the commercial relations between the United States and Mexico, we shall not predict. On this subject, however, there needs be no uneasiness, while our affairs in Mexico are in the hands of a gentleman so thoroughly qualified to manage them, and who possesses so entirely the confidence of the country, as Mr Poinsett, our present Minister Plenipotentiary.
In connexion with these remarks, we cannot forbear to express the pleasure with which we are enabled to state, from undoubted authority, that the first volume of Mr Restrepo's History of Colombia is already completed, and sent to London for publication, both in the Spanish and English languages. It is intended to be printed also in this country. Mr Restrepo is known as the able and indefatigable Secretary of State for the Home Department in Colonbia, and no man living probably has enjoyed opportunities so favorable, for becoming acquainted with the history of that republic. From the talents and qualifications of the author, as well as from the importance of his subject, this work may justly be looked for with raised expectations. Mr Restrepo is pursuing his task with as much expedition, as his numerous and weighty public duties will allow, but it is uncertain when the second volume will be in preparation.
11.--Notes to his Sketchel of Bunker Hill Battle. By S. Swett.
Boston. 1825. 8vo. pp. 24. ABOUT seven years ago, Mr Swett published an edition of Humphreys' Life of General Putnam, and appended to that work a • Historical and Topographical Sketch of the Battle of Bunker Hill.? Considerable inquiry had then recently been excited, in regard to the part General Putnam took in that battle. Mr Swett investigated the subject with a good deal of care, and published the results in a connected account of the battle. About the same time a full investigation of the subject was also made in this Journal. [North American Review for July, 1818. Vol. vii. p. 225.] Since that period many other facts have been brought to light, especially by the testimonies formally taken of many persons, who were present at the battle. Several of these testimonies, relating particularly to Putnam, have been collected by Mr Swett, and published in the form of Notes to his Sketch. Taken together, they present a lively picture of parts of the battle. A few of them we shall select.
The first is the testimony of Joshua Yeoman, who was in Putnam's regiment.
• He helped build the fort the night before the battle, led on by General Putnam. Was well acquainted with General Putnam; saw a great deal of him in the action encouraging the men. I saw General Putnam split a fieldpiece in the fort; he could not get the ball into the piece. He went to his saddlebags (haversack) and took a canvas bag of musket balls (grape], loaded the cannon, and fired it at a number of officers who were consulting under a row of trees. I then went to the rail fence; there saw General Putnam riding along the whole line and crying out, “ stick to your posts, men, and do your duty ;" he was greatly exposed.'
Here follow the accounts of other persons, taken promiscuously from Mr Swett's Notes.
· William Low, Gloucester. Putnam ordered us to carry off intrenching tools ; our company went, followed him in Indian file down the hill, the shot flew as thick as hailstone. Putnam was as cool as ever man was. News came the British were landing ; Putnam then said it was too late, ordered every man to take a rail on his back, took one himself, went to the other rail fence, and we worked at doubling it. Fired eighteen out of my nineteen cartridges.'
Elijah Jourdan deposes; • I helped build the intrenchments, and fought within the intrenchment till the British took possession of our fort, during which time I perfectly well remember that General Putnam was in the said intrenchment (breastwork] very frequently during the engagement, giving orders as commander in chief; and I perfectly recollect, that he was in the fort * when the reinforcement of the British came up. While we were waiting for the British to come up the Hill, orders were given to us not to fire till we could see the whites of their eyes; and this order, I was then told, came from General Putnam ; but I did not hear it from him. I knew General Putnam's person perfectly well at that time, having frequently seen him before.'
Ezra Runneis, Middleborough, deposes before Wilkes Wood, Esquire.
I belonged to Captain Gridley's artillery company. Went on to the Hill with the company, and two small pieces, the evening before the battle ; and was at and near the redoubt during the battle, until our party retreated. I well remember of seeing General Putnam at the breastwork during the battle. Before that time, residing in Groton, Connecticut, was personally acquainted with him. I repeatedly saw him during the action walking upon the breastwork and animating the men to exert themselves. Captain Gridley, having received some cartridges, which were too large for our pieces, said that nothing could be done with them, and left his post, and our company was scattered. General Putnam came to one of the pieces, near which I stood, and furiously inquired where our officers were. On being told our cartridges were too big, and that the pieces could not be loaded, he swore, and said they could be loaded, taking a cartridge, he broke it open, and loaded the pieces with a ladle, which was discharged; and assisted us in loading two or three times in that manner.'
• Philip Johnson deposes that he was at the rail fence. , While there, just before the action began, he saw General Putnam on horseback very near him, and distinctly heard him say, “ Men, you know you are all marksmen, you can take a squirrel from the tallest tree. Don't fire till you see the whites of their eyes.” Imunediately after the first retreat of the British, General Putnam rode up and said, “Men, you have done well, but next time you will do better ; aim at the officers." The British entered the redoubt without much firing, and the retreat commenced. Just as Mr Johnson left his place at the rail fence, about half a gun shot from the redoubt, General Putnam rode up, his horse covered with foam, and said something, he does not distinctly know what, and rode off. “ The balls were flying as thick as peas.”
This was a little before the battle; during the battle the distinguished bero and patriot, Colonel Prescott, had the entire and uncontrolled command in the redoubt.'
• William Dickson says, before we took up our march for Bunker Hill, and before we reached Prospect Hill, I am sure I heard the musketry fire. Battle began a great while before we reached Bunker Hill. The musket balls flew very thick where Putnam was, nearly or quite on top of Bunker Hill. He did not seem to mind it. The balls pierced a cartridge box, a hat, and breech of a gun. Putnam had his sword in his hand, and hallooed to us to drive up.'
Such are a few only of the testimonies published by Mr Swett. Many facts were obtained from the survivors of the battle, who were present at the celebration in June, 1825. Mr Swett encourages us to expect from him a detailed account of the battle, which the mass of materials now in existence would enable him to draw up with great minuteness and accuracy. We hope he will prosecute this design.
n. Hale 12.-Remarks on the Banks and Currency of the New England
States; in which an Attempt is made to show the Public Benefits resulting from the System pursucd by the Allied Banks in Boston. First published in the Boston Daily Advertiser.
8vo. pp. 40. Boston. The object of this pamphlet appears to be, to defend the course lately pursued by several of the banks in Boston, of receiving at par, in all payments to them, the bills of the country banks, and returning them to the banks by which they are issued, for redemption. This course of measures having produced a material change in the circulating medium of the New England states; and having been a subject of general complaint on the part of persons interested in the country banks, it became a question deserving of candid consideration, whether the change in any way promotes the public interest, and whether it interferes with the rights of any of the parties affected by it.
The remarks begin with a statement of some general principles respecting currency, tending to illustrate and enforce the position, that the first requisite of a good paper currency is its ready convertibility with gold and silver, whenever these are preferred by the holder; and to show that the holder of the bills of any bank must have a perfect right, founded on the very condition which gives currency to the bills, to return them to the bank, and demand gold and silver, whenever it may suit his convenience.
It is stated that there are in the New England states, a hundred and fortyseven banks, having an aggregate capital of nearly thirty millions of dollars, and having bills in circulation to an amount exceeding ten millions. The bills of all these banks have generally been current as money in all parts of the New England states, particularly in Boston, the centre of a great portion of the business of these states. There was, however, until the adoption of the measure above referred to, one important exception to the general currency of these bills. None of those issued by the banks situated out of Boston, were received at par in any payments made to the banks in Boston. It would appear at first blush, that this refusal would be injurious to the country banks, and that to give them full credit, on an equal footing with the bills of the town banks, would be regarded as a benefit. The fact was the reverse. As they were freely received in most payments except to the banks, they were easily put into circulation, and when the holder had occasion to pay money to a Boston bank, or to procure specie, instead of sending the bills to the issuing banks in the country for specie, he usually exchanged them at a small discount, with some one in Boston, who would give him Boston money. The exchanging of Boston money for country money, and vice versá, became a regular business, and it is estimated by the author of this pamphlet, that the exchanges each way amounted to nearly a hundred thousand dollars a day; the discount on country money being generally one per cent.
This discount operated as a premium to keep the bills of country banks in circulation, in preference to Boston money, which was reserved almost exclusively for payments to the banks, and was consequently returned to the issuing banks almost as soon as paid out. The consequence was, that Boston banks, which, from the magnitude of their capital, and their extent of business, might be supposed to be in the best credit, and to have the greatest facilities for putting their bills into circulation, had in fact the smallest proportion of circulation; and the most remote banks, though of small capital, even if their credit was a little doubtful, had the largest circulation. This fact is proved by a variety of statements, drawn from the official returns of the banks. For example, in June, 1809, the three only banks then in Boston, with a capital of $3,800,000, had a circulation of only $646,221, while at the same time, five other banks in the state, situated more than a hundred miles from Boston, with a capital of $700,000, had a circulation of $797,863. In January, 1819, the seven banks in Boston, with a capital of nearly seven millions, had a less circulation, than the seven most distant banks in the state, with a capital of less than a million of dollars. A similar inequality of circulation in favor of the distant banks is shown to have existed in New Hampshire and Maine, those in the large trading towns