23 JUNE 1838, Page 2

General JACKSON'S famous " specie circular," which directed the American

Land-offices to take specie only in payment for lands, and to which is attributed in no slight degree the derange- ment of the American currency, has been repealed by Congress. A resolution to that effect, proposed by Mr. WEBSTER, was carried in the Senate, by a vote of 34 to 9, on the 29th of May. Next day it was read three times, and finally passed, in the House of Representatives, by a majority of 154 to 29. This is considered as a final abandonment of the JACKSON policy, and a signal tri- umph to NICHOLAS BIDDLE. That gentleman lost no time in putting forth an assurance of the speedy resumption of specie payments by the Bank of the United States, in the following letter to Mr. JOHN QUINCY ADAMS.

Philadelphia, 31st May 1838.

"ltfv dear Sir—In my letter of the 7th ult. I stated my belief that there could be no safety nor permanent resumption of specie payments by the Banks, until the policy of the Government towards them was changed.

" The repeal of the Specie Circular by Congress makes that change. I see now what, until now, I have not seen, the means of restoring the currency.

" I rejoice very sincerely at the termination of this unhappy controversy ; and shall cordially cooperate with the Government by promoting what the Banks are, I am sure, anxious to effect, an early resumption of specie pay- ments throughout the Union.

" With great respect, your's " N. Ilinnaa."

Stocks immediately rose in New York and Philadelphia, and sanguine expectations of speedy prosperity were entertained. It is not, however, very easy to see how the return from a depre- ciated to an enhanced currency can give an immediate stimulus to trade : all English experience, at least, runs in the opposite direction.

The removal of a tribe of Cherokee Indians from Florida, in accordance with a treaty known to have been obtained by gross fraud upon the Indians, is to be postponed for two years, and then to take place under circumstances not quite so discreditable to the Government of the United States. Petitions in behalf of the Indians were poured from all quarters upon the Government, except from Georgia and Florida, where the lands of the Red men are coveted by the Whites.