Bao. Ãxdkn, - A fow months since an articlc appeared in thc Emincipalor with thc abcve cnption, cattfoii0"the pcople of thc North against the Southern trade on the credU system, and which predictcd thc hard times ihat wereapproaching, from the impoverishing system of slavery. A gentleman nformed me recen tly, lint when he saw that article, he took thc alarm nnd governed his business accoidingly, and it has saved him; and he considera ihc paper oÃ immense valuÃ© lo him on that one account. Btf! sir, the shell hap burst, the N )tth will soon be buried again. I havo seen a gentlpmnti this morntng direct from Georgia, nnd the state of things prevailing ihere is disastrous and gloo?ny u iho extreme. Cotton down to sixeente, the peole are dÃ©clarlng thal their shivcs and even theimcloes will stand even soma of the weaUhieat siaveholdersare ileclarin ihis. Property is deprecVing. Slaves th.it, a few months ago, were worth $300 a head are not worih now $200. A rich slaveholder worth 200,000, snys he wili seil out for one hay", f he can get awny. A rich Inwver said he would sell at a sacrifico of $50,000, i f hÃ© couldgcl out of Ihe South. Tliis samo lasvyer, I think it wn.f, said (hat within si-x mooth3 moro than 1,000 slaves would be eold at.ShcriÃl"'sj sale in his country. Haav.y cot'on buyers are failingjOthers are running away,others aro slealing negroes, and their calamitiea are coming upon them to the uttermost. The following is an extract from a letter which ihts gentleman received within a week from a distinguished lawyer in Georgia, and it gives an idea of their present condition. He saya, - "All ia confusiÃ³n and oxcitemont with us. L - of W - county has failed for $70,000, and aflUctcd all iho county of VV-.. Win. D - has broken, et cetera and Co. In this ( Y - )i:ountry all are exoited upon ihe subject of steaÃ¼ng and running n?groes - to avoid the paymont of debls, &c. John G- has been in j Ã¼ for running negroep," (i professor of religiÃ³n) "and Daniel A. F-,Wm R- , and ofhers, t'or negro stenling. The country is going! o)ixg!!GONE!!!" 'i'his is tlieir condition, nnd when will the Nrih take the alarm and 'stand from underV "Running negroes," spoken of above, is this. The owner runs his slaves a distance and then sella thom, and goes on a distanco, and the slaves run awÃ¡y and imeet hini at a pl;ice previously appoiciled, on the condiiion tbat he will give Ãie slaves a part of the inoney. Ha then sells them lagiun, nd proceeds as before; and thus ithey sell thern thres or four times over before he gets to Texas; an-'l, tBnt thoy nifiy not bo ab!e to teil the story, the last time they meet the master blows their brains out in soms swamp or safe retreat, and takes all the monoy. This is the explantation given hy the above gentleman. Horridi HoiridÃ¼ IIORRIDÃ! No wonder the j jdgments ot God are falling upon them. "Stand from under!" Your3 for the slave.