Correspondence of the Register and Journal.

 TUsCAIOOsA nac IA I21i
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 neglected to inform you yesterday tha, Mir. Ma. son, of Wetumpka, had been elected chancellor of the middle division. The election of chanceors puts at rest for the present the question of repeaas the chancery system of the Stale, as it now exists slr. Watts has brought in d bill 10 regulate the affairs of the Stnc bank and branches This bill abolshes the office of directors of each of the brac cs, and also of the State bank That all aoles and bills due and not paid by the first of January, 1s46 De placed in suil, apd that bills and notes becom- ng d"e after that date be placed m suit within 30 days alter due. IL provides also that all he real estate belonglng 10 each branch and bank, shall be sold sometime n the year Is46, either at public 0, private sale. The bill gives to the president oI each nsti'ution the rame powers with reference to Gquidsiins, heretofore exercised by the prcsiden, and directors. It s something remarkable, thai ul 10 hs date the Hsuss had ordered any bill what.