And here—politics aside—a question may well be asked, which every man can answer for himself, so far as opinion goes. Have not the inexperience and inefficiency of some of their agents, and the villainy and irresponsibility of those with whom they have negotiated, contributed more to induce a proposition, in some of the States, to disgrace themselves by repudiating their debts, than any want of a proper sense of honor among the men of the West? If such is admitted to be the fact, it may, in some degree, excuse the rashness of their tempers; but whoever entertains such a proposition, after a moment’s reflection, would sell—not his own birth right—but his country and his kin for a morsel of bread. THE BUBBLE WELL BLOWN. To the uninitiated, it will seem a singular circumstance, that a company, without a dollar in their vaults, should undertake to loan two millions; but they forget the maxim, that credit is the life of business. This maxim formerly meant, that a credit, well sustained, gave success to enterprise—but by its misapplication and misuse, it has come to a different signification, viz: that the more one owes, the more he has to sport with; and it was precisely on this principle, that the Morrison Kennel contracted with the commissioner. It was only carrying out, in another shape, the invention of Nicholas—“always to be the borrower, when he appeared to lend.” They had now obtained possession of 2,000,000 of the bonds of the State of ——, by advancing only one eighth part of the amount. On the remainder, they could borrow largely, and they were now prepared to wing aloft a new flight; their gaseous inflation borne upward and onward by the breath of a fame of their own creation; and they were not long in choosing which way they should direct their course. MYSTERIES LEFT UNEXPLAINED.