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thc wreck. IL this ii goes into law, the clrcnla- ton nnw ont, as fast as collectcd being buint-and tho only means Jeff for operation, will be consisting of this new emission, (my views about which, ,ou have somewhat in detaiD the corolafy Is, the Banks cannot longer be instrumental nliquidatng the State ,le; and taxation has be forthwith resOrted to, for this purpose.

 This Bill would be much less objectionable, if il prohibited lhe increase uf the circulation after July or August nexl-aad permitted this circulation, as f,st it collected to be employed us the means of paving of the State debt: By judcious use oi It in the purchase of Exchange, am confident that ihe Branch Mobile, eoull meet her liabilities promptly

 but if it IS to be deprive of the of the present circulation, and thrown upon Ais new emission, II IS utterly of the question that these liabilities can be paid by the Bank.

 Before the House. there is also in progress Bill, introduced by Ar. Clements, differing m one respect, materially from the just described, introduced into the Senate, by Judge Thornton, which, if pass es, will be far preierabe in my judgement, to the Judges Bill 1t diaefs from his, (the Judge's) m this essential particular, by authorizing the Directors 10 appropriate the money collected from the sIspend- ed debts, to the payment oi the state debt It also restricts the operations of the Bank to the purchase of exchange, and discount of business paper Altho by no means, such bill in all it's details as like, yet, it is decidedly preferable to any have seen What will be it's fate, or the fate of any other measure be fore this Legislature, it takes more than mortal ,o divine. The current of opinion woul seem to-day, 10 set Tn lnlS " The next day, in every direction. Now, begin seriously to believe, ths Legislature will break up, having done little 10 commend il to the "generous confidence" of its constituency, and nothing oi which, it a body may be in after tune, proud, or by which the State wlll be beneiltted iorbear to describe the painful scenes that have wtnessed.- For the honor of the State, the dignity of Its people, and the respect which it IS justly entitled, let them pass "as school boy s tale the wonder o an hour

 The Peniteutiary code has been disposed oi in the

 lave aS with several %poeat sSe eoadI ney

 The Chancery Bill suu,bers in the arms of a com mittee, from which, hardly think it will awake du- ring this session. Many ol the lawyers in Mobile, the master in chancer ry particularly, would have | no doubt say, 'peace to its repose.'

 | The election for Bank officers was expected to have taken place this week, but il IS now obvious | they will be the last thing acted upon Members are unwilling go into these elections until il Is known what action the Legislature will take upon the Banks. | The feeling at present is against winding them up with snace aforethOught,' but with the kindest wishes for their long life, happiness and prosperity, and the greatest desire to ameiiorate tel condition, replace them on a hg gh and sound basis, to furnish

 the good people of the state currency eq'ta to specie, and above all things, to hold, inU9iate and poiable

 the lighted faith ot the state and even above hs, to save ihe dear people from taxation. l would not be 1 surprised after all, II an uninentiona blow should disappoin these noble ends, and leave wreck behind 'snous ,errons," as Father ltitchie would say, | We have an excellent delegation this year from Mobile, and if they hal chance, they would prove themselves 50.

 The committee on Bank Frauds since my last, have renewed their iabDurs and asked leave to sit during the session of the two Houses, which was granted

 hem. They are sumnonlng the members of the Le- gsatule, by one, before them, 'to give in their experiences" learn they have come across some more ''wolf sign, i,nd are in hot pursuit. May not their game, like the water passing through the fingers of tunluus, escape about the tune they are reaching to enjoy il. rather inclined to this opi- nion Those who have deiiauded the Banks, have no doubt, received item of what is in progress at Heti c mrters, ari have taken unceremonious departure 10 their Eidorado. This excitement how ever, will have one good effect, if no other, make the Bank officers moe yigllant, and to prevent at tcnpts from being made to swiudle and obtain mon cy under false preten;es. fear nevertheless, under ihis morbid state of feeling, injustice may be done to honest and we-lean ng gentlemen; and 1t it IS cer talnly better that 99 Bank ileyes should escape, "unwhipcd of justice than the character of one in- nocant man tarnished. It is but necessary now, while the imagination of men in it's sicky excitement about Banks and Bank Frauds, s conuring up all sorts of evil spirits to breathe suspicion, to affect reputation. In these days, slander quick of scent and sharp of tooh like the lean and hungry wolf IS on her night walk, hunting up and cutting down whom she meets. Denunciatons the most unineasured, c;ilumnies the vile, and abusive declarations the Inost unound- cd, are daily teeming from the eloquent tongues of

  Directors and Bank Candidates. They are assoca- ted by sweeping and unqualified remarks with thieyes robbers, Murretes, and every thing villanous. The poor candidates however, have to stand it, though their bosoms swell with suppressed indignation and resentment It is not always the that the rey- CTS are better than the revIled. The hollow vessel fieuuently makes the most noise.

 As an evidence of the kind feeling entertained for Bank officers and of the hlgh estimation m which they are held by the ''coeced wisdom of Alabama, as men of probity, and deserving office, Bill pass- ed the lower House, in winch Il originated, requiring that the member nominating candidate, shall state his indebtedness to the Banks in and of the state -who are on his paper, whether the same is good or not, whether the nominee is solvent insolvent- whether under protest in any Bank, to which he may be indebted-whether or not competent and honest and that the gentleman nominating shall stand God Father for the good behaviour, and the faithful per- formance of the duly of the candidate nominatcd.- There are several other acquisitions which would go to slew, what is the opinion here of those who are, or who wish to become Bank Directors. l should suppose it would be exceedingly agreeable to gentleman to find himself so highly respected by those capable of approaching character and quail fcations.

 doubt whether the Legislature will remain in ses- sion longer than next week. Many members have left and now speak ofleaving in few days. We shall soon see what will come out of the multitude of counsel.

 As usual, have scribbled you a much longer let ter than expected. If it will prove interesting, am satisfied.

 Since writing the above, the House of Representa- tves has adopted resolution to adjourn sine die next Friday. Both Houses are in sesson-Christ- mas day. The Senate will concur in the resolution to adjourn.