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menced with a determination to run “the game” | cerned, it is undeniably better that our manufacto the death at every hazard.

turing establishments should be scattered over the Numbers of others joined the pursuers as they country among the agricultural population. It is swept across the country; and there then began a when their mills are compelled to stop or to slacken

equally important in an economical point of view that chase, and arose a cry, such as the “ Pikes” and in activity by a decline of price, the work people - Fells" of that district never witnessed, or echoed should find a resource in agricultural pursuits, as to, before. Across fields, over hedges, ditches and they will where they are not numerous and where walls; through gaps, dykes, and briars rushed the they live in an agricultural district. In England savage beast, and perseveringly followed his

the districts in which the agricultural population

pursuers, resolved to have revenge.

The news of

obtain the best wages and seem to enjoy the greatthe hunt spread on every side, and as those who est degree of comfort are those where small estab

lishments for manufacturing purposes are situated had run longest failed for want of wind or strength, amidst a comparatively sparse population, and the others supplied their places. Before the chase had people employed in them come from the cortages lasted a couple of hours, many joined in it who had of the laborers in the surrounding country. The come the distance of ten or twelve miles. At one manufacturing towns built up in our country with time it was feared the sheep-slayer would escape

no regard to considerations of this sort, consisting into the Fyle; but, fortunately, at Whinney- families who are expected, from the parents to the

of houses crowded together, without gardens, for clough, and when he was gaining on his pursuers, youngest of the children, to follow no other occupaMr. J. Smith, farmer, had a shot at him, and hit- iion but that of tending the machinery of the mills, ting him in the hind leg, turned him back towards are but so many arrangements for introducing the Barnes' lane. It was now past ten o'clock, and frightful visitations of suspended industry and of the pursuers, instead of slackening in speed or destitution which so frequently come upon the manlosing strength, appeared to increase in number ufacturing cities of Great Britain. and in spirit; while the dog, exhausted from his Great Britain has been, a country which manu

America, however, is not likely to become, as night's work, the severe run he had had, and loss factures for the world, and there are some indicaof blood from the wound in his leg, showed evident tions that the manufacturing industry of the nation symptoms of breaking up. At about half-past ten will exist hereafter in a greater state of dispersion o'clock, seemingly worn out and terrified, the brute than at present. In a paper now lying before us, dashed into a house at Barnes' lane, in which was the Charleston Patriot, we find the following statea woman and four children. The alarm of the ment of the success with which the manufacture of poor woman may be imagined ; but fortunately it

cotton cloths is prosecuted in Georgia :

“From a report which was laid before ihe legwas of short duration, for a young man coming up, islature of Georgia at its last session, we learn that armed with a pitchfork, drove the prongs through there are about thirty-two cotton factories in that the ferocious beast ; a second man, named Bleas- state now in operation, or in course of construction, dale, then cut its throat.

in the working and building of which two millions Thus ended this extraordinary hunt, after a run of dollars are employed, while 3,000 persons are of upwards of twenty miles. Upon examination, directly engaged in them, and 6,000 derive their the animal was found to fall very little short of the support from them. The consumption of provisions

and agricultural products, not including cotton, for descriptions which had been given of it, exagger- the use of these operatives, amounts annually to ated as they were thought to be at the time. It $ 300,000. They use for manufacturing purposes was of an unusual size, and very strongly made, from 18,000 to 20,000 bales of cotton per annum, especially in the fore parts, its legs there being as and the amount of manufactured goods produced big round as a man's wrist, and the print of its during the last year was equal in value to a million fore foot measuring full three inches and a half and a half of dollars. Of these goods one third was Its death having been insured, a cart was and a part in the valley of the Mississippi. One

sold out of the state, principally in northern markets, obtained, and the body placed in it was taken off shipment of fifty bales of cotton yarns was made to in triumph to Goosnargh, followed by nearly a the China market, and was disposed of on favoracouple of hundred farmers and others.—Lloyd's ble terms. The coarser goods manufactured in Weekly London News.

Georgia are said by the committee to stand high in the northern markets, and, in consequence of being

made of better cotton, command a preference over COTTON MANUFACTURES IN GEORGIA.

all others of the same style. The yearly dividend It will not be a matter of surprise to those who to proprietors is said to be from twenty to forty per take the trouble of reflecting on the subject, if the cent." enterprise now so active in building up large man- If there be no exaggeration in this account of the ufacturing cities in New England, should prove wealth of the Georgia manufacturers, their enterexcessive and premature. In some points of view prise will not stop here. Whoever will take the it is certainly not desirable that our manufacturing trouble to look at the map of the United States will establishments should be concentrated in populous see a vast hilly region, extending from the middle districts, where the sole occupation of the inhabitants counties of the state to the plains which skirt the will be to tend the spindles and looms and cylinders Gulf of Mexico—a region more than a hundred of colossal manufacturing establishments, and where miles in width, intersected with streams of rapid an unexpected change in the market stops the ma- descent, capable of putting in motion all the Jooms chinery and deprives at once a whole community of of the civilized world. The cotton plantations of employment and bread. So far as the morals, so the south are close at hand, and these broad ranges far as the physical health of our population are con- of hills are beginning to pasture flocks of sheep.


Free Banks.

Chartered Banks.



The successful introduction of manufactures in from the date of our article, it did suspend, and its Georgia, almost at the southern extremity of this notes, worth 100 cents on the dollar, sell at 60 region, ensures their gradual introduction all along cents. This failure, as well as the two that have the slopes of the Alleghanies. The eastern mill since occurred, (the James and the Northern Exowners will do well w take these circumstances into change,) took place not because they are not well their calculations concerning the future growth of secured, but because they violate an immutable their manufacturing towns.

law of finance. They have sought to force into We shall not be surprised to hear of cotton and circulation more money than trade would bearwoollen mills springing up in those neighborhoods the channels of circulation overflow, and the weakof northern families who have lately emigrated with est are first ruined. their families to Virginia. Meantime we desire our In order to observe the mode of procedure we readers to note the profits which the Georgia mill will turn to official tables. The following shows owners, under the mitigated tariff, under a rate of the State circulation on Nov. Ist, for three years : duties proportioned to the value of the article imported, and rejecting the device of minimums which Mr. Appleton and his brethren have declared so

City. Country. City Country. indispensable, are realizing from their establishments 1845....$1,584,753 $3,959,558 $4,245,770 $11,585,298 even while their enterprises are scarcely begun. 1846.... 1,581,023 4,654,374 4,539,495 11,494,600 The report of the Georgia Legislature, in the col- 1847.... 1,916,219 7,404,115 5,690,362 10,236,556 lections of materials for the future historian, should It is observable that the country safety fund cirbe bound up with Abbot Lawrence's letters, and culation decreased $ 1,258,074, and the country those of Mr. Clay, on the ruin which the new tar- free banks increased $2,749,741, during three iff was to inflict upon our manufacturing industry. years. This latter increase was almost entirely on

N. Y. Evening Posi. the part of so called “ banks” that sought only to

throw bills into circulation, and make a profit by

redeeming them at a discount. To do this they NEW YORK BANK NOTES.

purchased New York 5 per cent. stocks, for the It is now rather more than forty days since, in most part with the notes they had obtained from our paper of Nov. 30, when the money pressure the comptroller for stocks previously pledged. began to be severe, that we cautioned our readers During the past year the amount of stocks so purthat the effect of that pressure would inevitably chased has been as follows : reach some of the institutions under the New York free law. In that article we gave the aggregate of 22 banks, whose circulation was $ 1,879,151, Nov. 1846....227,976


54's. 6's & 7's. Tolal.

2,543,141 1,801,728 4,472,845 secured by $ 1,837,292, of New York State stock. 1847....255,376 4,836,189 2,748,074 7,900,239 They held $ 29,849 of specie. It is to be observed that in the matter of paper money it is not security Increase, 37,400 2,343,048 1,046,946 3,427,394 but convertibility which the holder requires. Where Near three and a half millions of New York there is an excess of issue, that convertibility can be stock were bought in the market, and mostiy up to maintained only during an absence of any demand August, 1847. The effect of these large purfor specie. As soon as that demand springs up. it chases was a rise in price, which took place as is obtained by presenting on institutions their follows: promises to pay specie on deinand. They have no specie, and therefore cannot pay until they have sold


51's. stocks; but they bought stocks when they were Jan. 1847.

1001 high, and must now sell them when they are low. July, 1847.........984 1011 1045 1071 In the mean time the holder who cannot wait must

Jan. 1848.........90 submit to loss, not because there is no security, but This rise in the 5's was the reason that the Atlas no convertibility. In our article of Nov. 30, to which Bank in August put in mortgages instead of stock, we have alluded, we remarked as follows :

the latter being very scarce. The bankers had by “If it should falter and the comptroller be obliged their purchases advanced the price on themselves. to sell in a falling market there would be a loss : The advance induced capitalists, savings banks, the decline in the stock has already uncovered' and other prudent institutions, to sell. Hence the the circulation.

stocks went from strong into weak hands. As soon “There is a new bank, called the Atlas Bank, as the pressure came this process was reversed ; all which has $ 10,000 capital, has deposited $ 65,000 those banks that had been buyers became sellers. bonds and inortgages, $ 113,205 stocks, and has As fast as their notes were returned upon them out $ 178,205 circulation, and $ 100! specie in they were obliged to return them to the comptroller, hand. If this concern falters in its payments there get stock, and sell the latter for money to continue will be a great loss to bill-holders. In the present redemption. The consequence of this has been state of the market its securities cannot cover its the fall in price. Those banks which bought at bills.

101: in August, must now sell at 92. The Atlas “ It is a fallacy to suppose that New York stocks Bank, as an instance, holds $ 113,205 ; the loss are ample security, unless a large margin is al- on this by the fall in stock will be $ 10,188, and its lowed. Many free banks have failed with New capital is only $ 10,000! The banks, like silly York stocks as security, and loss has ensued." Wall street amateur speculators, raised the price of

Now the Atlas Bank is as well secured as any stocks in order to knock them down again at their of the institutions. Its real estate was officially own expense. The law should have allowed a appraised by Messrs. Bleecker & Reynolds, at large margin to provide for these fluctuations. As $ 130,000, and is mortgaged for $65,000 ; yet thus: the Northern Exchange Bank deposited when we wrote it was a matter of certainty the $75,000 New York 5's at par, and received $74,institution would have to suspend, although it 997 of bills. The highest ihat $ 75,000 of stock is perfectly solvent. Accordingly, just 25 days will now bring is $67,500, or 90 cts. on the dollar,




6's. 103





104 100







consequently, to buy the bills un speculation, or to The movement of our army from Puebla was one keep for seuilement, they are not at this time worth of the most romantic and remarkable events which more than 85 cents.

ever occurred in the military annals of our country This operation of the banks is exactly what Our troops did not indeed burn their feet, like Wall street brokers call a corner.” As thus : a the first conquerors of Mexico, for they needed not party hold all of a certain stock in their own hands. 10 gather courage from despair, nor 10 sumulate By means familiar to operators they induce a num- their resolution by destroying all hopes of escape. ber of persons to sell them the stock on time. The But they voluntarily cut off all means of communiseller hopes to buy the stock cheap, but they know | cation with their own country, by throwing themhe can't buy it because they have got it all. When selves among the armed thousands of another, and the contracts come due they charge him what they advancing with stout hearts, but seeble numbers, please. The 22 banks above mentioned, supposing into the midst of a hostile territory. The uncerthat specie would not be demanded of them, or if lainty which hung over the public mind, and the it was there was plenty to be got, engaged, as above, anxiety everywhere felt, when our gallant little to pay on demand $ 1,879,151 of specie. They army disappeared from our view, will not be forhad but $ 29,843, but they supposed that they gotten during the present generation. There was could get it if called for, by selling their stock. In universal pause of expectation-stopping but still the mean time specie left the city for the south and fearing ; and the eyes of twenty millions of people west, $ 6,000,000 was sent abroad, and the de- were anxiously fixed upon another country which a mand for it continued. These banks are called little band of its armed citizens had invaded. A upon to meet their promises, and they are “cor- veil concealed them from our view. They were nered.” Specie has become more valuable than lost to us for fifty days, for that period elapsed from when they promised to pay it, and they cannot get the time when we heard of their departure from it without giving more stock for it than they sup- Puebla till accounts reached us of the issue of the posed! In this uncertain state of the stock mar- movement. The shroud which enveloped them ket, the Atlas Bank, by depending upon good real then gave way, and we discovered our glorious estates partly, is better for the note-holders than flag, waving in the breezes of the capital, and the those which depend only upon New York stock. city itself invested by our army. The money market is now, and will continue to be, And similar circumstances marked the very comtight. Should as much stock, viz., $3,427,396, be mencement of the war, when the Mexicans first forced upon the market as last year was purchased surrounded our troops and shut them out from all between January and August, it may go to 80 or communication with their country.

This unexlower. New York 6's were at 80 in February, pected attack struck us all with astonishment, and 1842. It is observable that those who sold the we feared, as well we might, that numbers would stock at par may now buy it back at 90, being a overcome discipline and valor, which, however they profit of 10 per cent., at the expense of the foolish might prolong, could not be expected to succeed in bankers. These buyers, however, anticipating that the contest. And hopeless indeed might have been much stock must be sold, hold back until it gets to the result, had not the honored soldier who comwhat they think the lowest price. This process of manded our troops, had confidence in them, and returning bills to the comptroller and selling stock they in hiin; had he not known how to lead and is now going rapidly forward. One firm has sold they to follow. And well and bravely did they all $ 200,000 in two days.

bear themselves in the critical circumstances which In all this affair it is to be borne in mind that the surrounded them; and our doubts soon gave way security of the circulation is good—that is to say, to certainty, and gloomy forebodings to glorious as good as New York stocks, than which no pay- convictions. And the campaign thus commenced ment can be inore certain. They are worth par as was vigorously followed up on the Rio Grande, and long as a 5 per cent. annuity for a term of years is victory after victory, till the crowning triumph at worth 100 cents. That security is, however, not Buena Vista was heralded by every breeze and money. To be equal to money ihe notes must at became familiar to our ears as household words. sighi be available for all purposes to which money

From Gen. Cass' Specch. is applicable. This convertibility can only be ef

JAMAICA.--Accounts from the island of Jamaica fected by keeping the supply within reasonable limits, received at New Orleans, represent the condition or to allow the issues to be made only in the way of of the coolies (workmen imported from India) as business, to be returnable to the issuer through the extremely wretched. Whether they find their way regular operation of business This would in a into the public hospital, the poor houses, or the prisgreat degree have been effected by the law requiring all these banks to redeem al par in New York. —the public must maintain them. No more of them

ons, says the Jamaica Journal, the result is the same Had this been in operation, none of the banks will be imported, with the consent of the planters. whose failures have alarmed and victimized the public, would have been in existence. They were

WHAT SHALL WE DO WITH OUR CRIMINALS ?called into being only by the profit which could be This is a question which, as Sir George Grey very obtained by shaving the public in the half per cent. properly says, there is a great deal of difficulty in redemption. This difficulty has always been answering. We think, however, we are enabled avoided in Boston, not by law, but by one city in- to offer a suggestion to the worthy home secretary, stitution which receives all the country money that which will greatly assist him in the difficulty he finds comes into the city in the course of trade, at par, himself under in disposing of criminals, now that the and promptly returns it upon the issuing bank for transportation system is no longer carried on as forredempuon. This compels them all to keep a fund merly. Our plan is, to convert some of the worst in Boston to protect their bills at par, and preserves offenders into Irish landlords. li may be objecied, the community from petty shaving and losses, in a however, that this would be almost equivalent to the much more efficient manner than any law can do restoration of the system of capital punishments, it. — True Sun, 13 Jan.

when we seem to be on the eve of their abolition.



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“ The Grinding Organ Nuisance.”—It is time London court, to whom a halfpenny is as much as that the great Italian organ-boy question should be silver or gold to the playgoer, feels that the Italian settled on something like an intelligible basis. Pub. boy, who has brought music to his dull region, has lic opinion seems to be divided on the subject; and given his full halfpenny-worth for the money. meanwhile the line urchins are the victims of con- Even the absurd hurdygurdy has its amusement. ficting principles.

And if a spice of charitable feeling mingles with The prohibition of the race not being absolute, the sense of patronage for art which prompts the certain dealers in organ-music import ihe boys to gratuity, the influence is none the more unwholedistribute them over the country and farm their some for that. —Spectator. earnings. But an equivocal law against vagrancy enables unmusical or over-musical policemen, men with ears too rude or too nice, to seize the boys in detail and drag them to Bridewell as Such cases orien occur.

I thee not-I fear thee not, There is one this week, reported by “ Alpha,”

Though young and fair thou art, a humane resident of Brompwn, to the Times. He

My shadow stands as sentinel found a policeman dragging a poor hurdygurdy-boy

By my beloved one's heart : to the station-house; followed the boy to the sta

That guarded palace mocks thy siege, tion, and next diy to the Police Court; and saw

Its gate ihou canst not win : him sentenced to ten days' imprisonment for “beg

Roam, sighing, round the marble walls, ging,'' on the wholly unsupported testimony of the

Nor hope to enter in. policeman.

I know that thou art beautiful, Now, is the act which is made an offence in the

But I am well content; Italian boy an act of begging? We doubt it. In

No beauty now hath charms for himTuscany, where no beggars are permitted-though He swore it when he went. they are not altogether suppressed-a special privi- Let welcome in its softest tones, lege was accorded to the blind, some years ago, of Its secret passion tell; attracting attention by the playing of music; so the

Thy welcome never shall efface Italian at least regards music as contradistinguished

The sound of my farewell ! from begging. It will not be pretended in the present case that the use of the hurdygurdy was the offence—though it is undoubtedly a very great So spake a lady sitting lone crime against musical propriety. It is one against Upon the sea's wild shore, which the most ignorant Italian seldom errs; the Whose gloomy waste of cres:ed waves greater number of hurdygurdy-carriers in England Her dark eye travelled o’er: being Savoyards or Swiss. No; the prisoner in- She spake it with a steadfast trust, effectually watched by “ Alpha" was condemned, (Oh, trust that vain must prove ;) as any one of his class might have been, because She spake it with a curling lip, he was an itinerant player of music—the playing In proud triumphant love! of music being in the police dialect, equivalent to mendicancy.

Wo's me! at that same sunset hour, But have these Italian music-boys been altogether

On the far distant land, as useless as beggars? Again we doubt. Cer- Her lover sate and heard the lute, tainly the inopportune noise of a grinding organ

Touched by a gentle hand; may be very offensive to busy men ; but for one There, listening with a loving gaze, who is annoyed there are many to whom the grind

His vows of yore forgot, ing organ is the only concert. To the educated His heart withdrew itself from hers, ear, the changeless key and weatherbeaten pitch of But the lady knew it not. a street organ are painfully irksome; but the instrument is intended for the rude ear of the many. And it has done a real service even to the fastidi

THE COMPASS-FLOWER. ous, by driving out a worse kind of noise ; the bar

EVANGELINE." rel organ has exterminated the “ vile squeaking of the wry.necked fise," and the wooden battering of Look at this delicate flower that lifts its head from the tuneless stunning drum.

the meadow; It is the Italian who has been to “the millions" See how its leaves all point to the north, as true as in this country the missionary of music and fine

the magnet; “ Polly put the keule on” has been super- It is the compass-flower, that the finger of God has seded by Rossini and Bellini, and the painted poll

suspended parrot by Praxiteles and Canova ; the airs of the Here on its fragile stalk, to direct the traveller's Italian opera-house are common in the mouths of

journey our blackguard boys, and the statuary of Greece Over the sea-like, pathless, limitless waste of the and Italy is familiar as China-ware. Though

desert. rudely and imperfecily conveyed, graceful thoughts Such in the soul of man is faith. The blossoms of and feelings have been spread abroad; and the

passion, main engins of distribution, in the lower and more Gay and luxuriant flowers, are brighter and fuller numerous channels of our society, has been the

of fragrance, poor Italian. We say, then, that he has served But they beguile us, and lead us astray, and their the country, and is entitled to claim free trade in

odor is deadly. his wares.

Only this humble plant can guide us here, and hereNor is the money which he gets an importunately

after exacted alms; it is an honorarium, always given Crown us with asphodel flowers, that are wet with with cheerful willingness. The poor denizen of a

the dews of nepenthe.

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Like a tiger he'd fight in defence of his right,

And the last thing he thought of was flying. Read at the Dinner of the New-England Society of New-York, Dec. 22, 1847.

Such an odd sort of man was the old Puritan,

Whom to honor to-night we assemble ;

Should one only come here and sit down to our cheer, The old Puritan was a solemn man,

Where's the man who could see and not tremble? Sombre and sad were his features,

His visage severe, his manner austere, He talked through his nose and he wore plain clothes, Would freeze all the cream without trouble; And seemed the forlornest of creatures.

Conversation would stop, not a cork would dare pop, Did he happen to grin, he believed it a sin,

Nor a glass of the rosy dare bubble.
And took it to heart quite severely,

But yet, after all, since the date of the fall,
But should Satan provoke him to laugh at a joke, For most that is noble in man,
He repented it very sincerely.

Though you searched the world over, 't were hard Amusements, he thought, were with mischief full to discover fraught,

The peer of the old Puritan. Songs and dances were nothing but evil,

No danger could shake, no adversity break, While cards, dice and plays, and all church holi

The faith-founded force of his will; days,

Oppression's stern power, even famine's gaunt hour, Were snares set for souls by the devil.

Could not change him, although they might kill. All ornaments too did he strictly eschew,

In the cause of the cross all his wealth was bu They but filled him with horror and dread; His own natural hair he would not even spare,

Freely left was his dear native land; But wore it cropt short round his head.

Mid the ocean's fierce roar, on a wild savage shore, Deprived of all games, his boys had odd names ; He walked calm with his life in his hand. His first might be “ Israel increases ;

Midst terrors infernal and splendors supernal,
His second, perchance, would be “ Buckler and

Lay his pathway to glory or wrath ;

In the fear of his God straight onward he trod, And another, “ Hew Agag in pieces."

With the Bible “ a lamp to his path." With powers of the air, and ghosts foul and fair,

Then honored be he, the strong man and free, He had daily to combat and wrestle

Whom love of the truth banished hither; Yet as mere

potter's clay” in the Lord's hand he To immortal renown be his name handed down, lay,

Wreathed with laurels that never shall wither. So he spoke of himself as a “vessel.” On Sundays his house was as still as a mouse

And honored for aye be this festival dayThe high-ways were almost as quiet;

Through the land be its influence feli, The church-warden stout caught the boy who was

Till creation expire, and the last fatal fire

The old Rock of Plymouth shall melt.
him the stocks and low diet.

When lads up in arms insulted their marms,
They were put on a par with blasphemers ;

Live for THYSELF! Jet each successive morn To be pelted with stones till the flesh left their bones,

Rouse thee to plans of self-indulgent ease ; Was the law for such wicked young screamers.

And every hour some new caprice be born,

Till all be thrown aside that does not please : The youth who would wed a coy, Puritan maid, So shalt thou learn how shallow is the fount Before the old folks had to court her,

Whose glittering waves all wholesome thirst deAnd quite sure was he to find a huge flea

stroy, In his ear if he failed to support her.

And, heart-sick, even in youth, begin to count The duty of life, then, for man and for wife,

Springs without hope, and summers blank of joy! Was to labor six days out of seven ;

Live for thy felLOW-MEN! let all thy soul
On the seventh, in the best of their toggery drest,
To work harder to get into heaven.

Be given to serve and aid, to cheer and love;

Make sacrifice of self, and still control Foul weather or fair, they were constant in prayer, All meaner motives which the heart might move : But to thrift all the time kept a squint,

The sting of disappointment shall be thine; And in matters of trade, when a bargain they made, The meed of base ingratitude be won : Their faces were set like a flint.

Rare veins of gold illume the labored mine

And toil and sadness cloud thy setting sun ! Innovations in faith they opposed unto death ;

At the cart's tail they dragged the poor Quaker; Live for thy God! Thine anchor shall be cast With derision and jeers they cropped heretics' ears, Where no false quicksands shift its hold away; And felt they were serving their Maker. Through the clear future, from the sunrise past,

Glows the calm light along the even way. The Puritan's walk, conversation and talk,

The loss of human hopes shall vex no more Was the very reverse of ungodly;

Than the quick withering of earth's common And scriptural texts, on the slightest pretexts,

flowers, Rolled out of his mouth rather oddly.

For well thou know'st when pain and death are o’er, But loud though he prayed, let a foeman invade, Eternal spring shall glad ihe heavenly bowers' All danger you 'd find him defying;

Drawing Room Scrap Book.

And gave

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