--This institution for the intellectual culture and moral training of our young men is now, we are highly gratified to learn, being pushed forward with an energetic and praiseworthy spirit. An organization, under the most favorable auspices, has been effected--the necessary officers elected--a suitable room fitted up, and a number of valuable books already purchased. Hon: Geo. Chambers was elected to the office of President. The selection of this gentleman for the head of the Association will give it a character for respectability, and intelligent management, which will impart a fresh impetus to the movement and insure its complete success. We would earnestly commend this institution to public favor, and ask for it a degree of patronage to establish it upon a broad and permanent basis which the importance of the objects in view demand. It is good economy, in a pecuniary point of view, to furnish all necessary facilities for the intellectual culture and moral training of youth. As a matter of "dollars and cents," it is a great deal cheaper to prevent vice than to punish its victims. The community are forced to pay burdensome taxes for the support of prisons, alms houses, and for the expensive process of apprehending and convicting the perpetrators of crime. Is it not wiser and cheaper, by liberal, voluntary contributions, to throw around the young these wholesome restraints which will prevent them from becoming pests to society!

But this, we admit, is a narrow and somewhat mercenary view of the subject. We suggest it simply to expose the folly and the selfishness of those who begrudge a sixpence employed in efforts to enlighten and restrain those who are exposed to the contaminations of vice. We would be glad to convince them that they are "penny wise and pound foolish" in niggardly refusing to co-operate with their neighbors in laudable efforts to prevent pauperism and crime, rowdyism and riots, by those means which are designed and adopted to this end. Of the higher and nobler objects secured by intellectual culture and right moral training, we have not space at the present time to enlarge. They will be readily suggested to every enlightened, reflecting mind. They are such as these: Honesty and integrity in business, peace and happiness in social and domestic life, good citizenship, obedience to law, regard and reverence to divine authority, a useful life, peaceful death, and the glorious reward that awaits the good.

Our esteemed friend, Wm. Seibert, Sr., who, in this, as in all other enterprises, tending to the public good, has taken a deep interest and an active part, procured last week of Mr. James piper, of Fayetteville, three ancient volumes as a contribution to the shelves of the Library. This was a very considerate, liberal, and praise-worthy act, on the part of Mr. Piper, for which the Association, as well as the community in general, owe him a debt of gratitude. We trust that many others possessing a similar spirit of generosity towards the promotion of so laudable an object may be found in our country. The volumes donated by Mr. Piper are on Law and Theology, and the oldest of them dates back one hundred and ninety one years. The Student of "Common Ley," fond of delving in musty records, or the Theological Bookworm, may find something in them to interest, and perhaps, instruct; but for ourselves we own up that we are not sufficiently skilled in the Old Fogy language of that day to make much out of them. The little that we have been scanning them over has given us rather a queer notion of their venerable authors--they seem to have entertained about as favorable opinion of their "Enlightenment," "Progress" and "Manifest Destiny" as we of the Nineteenth Century boast of. Just hear them gas:--

"WE live not now in the times of ignorance and darkness wherein mens credulity is easily abused. Our age is an enlightened one, and its notices are clear and penetrant and we should soon see the downfal of several ancient Errors, were the not supported by the affinity which they have with mens temporal interests. God will break off this alliance when it shall seem good in his sight, but it is our duty to keep firm in his truth and prefer they honor we receive from it, above all the advantages of the earth, and beseech him that he would reconcile those to it by his Grace, who are far from it, that all of us may have but one heart to fear him, and one and the same mouth to glorify him."

--On the 26th inst., a man, very gentlemanly in appearance, called at the residence of the Rev. Samuel Huber, at Rocky Spring, a few miles from this place, and desired to remain over night. The stranger complained of being unwell, and Mr. Huber, with the hospitality for which he and his family are so proverbial, agreed at once to keep him and extended every comfort his case seemed to require. The next morning the stranger was so unwell as to be unable to leave, and Mr. Huber proposed, and insisted, on sending for a Physician, but the sick man obstinately refused to allow him to do so, saying he would "Doctor himself." On the following day he died, and on examining his effects one hundred and thirty seven dollars, in silver coin, were found about him. Mr. Huber could not distinctly recollect the name he gave, but understood him to say that he was formerly from New York, but at the present time had an office in Carlisle. Mr. Huber had him decently buried, took charge of the money, and brought it to Bank to deposit until the relatives of the man could be found. The Bank officers on examining the money discovered a counterfeit half dollar among it. This coin they at once recognized as having been offered in Bank before, and it brought to their recollection the circumstance of a gentleman calling at the bank but a few weeks previous, to deposit Two hundred dollars in silver, among which was this counterfeit coin, and which they threw out. The money was received on deposit and the gentleman gave the name of P. C. Carder. This was doubtless the same man who subsequently died at Mr. Hubers. Mr. Huber then sent one of his sons to Carlisle to make some inquiry about him. After considerable search he learned that a man answering the description, occupied a room in an obscure house on the outskirts of the town. This room was visited and found in a most disgustingly filthy condition.--A heap of dirty rags, intended for a bed, an old desk, a broken chair and a pistol comprised the sum total of its furniture. No information could be obtained to throw much light on the history of the man, his business, or family connection. The money--three hundred and thirty seven dollars--will remain in the bank of Chambersburg until his relatives, if any, come forward and make good their claim.

--The ceremony of presenting a handsome and costly Stand of Colors to the "Chambers Artillery," by the Hon. Geo. Chambers, took place on Tuesday forenoon, in front of the residence of that gentlemen. The generous donor, on presenting the Colors, made an eloquent address in which he related many incidents in the early struggles against the Indians by the first settlers on the banks of the Conococheague, and in which Col. Benj. Chambers took an active and daring part. He highly complimented the company, and expressed his deep sense of gratitude for the compliment bestowed in naming the company after his honored ancester, the founder of our prosperous and beautiful town. The present was received on behalf of the company by Col. F. S. Stumbaugh, who made a brief, but appropriate address, in which he alluded, in a most happy manner, to the important services which Col. Benjamin Chambers had rendered in our border warfare, and hoped that his example would have the effect to stimulate the company, named after him, to emulate his noble deeds when their services are required to protect their homes or the honor of their country. The speakers were listened to with marked attention and their addresses elicited the admiration of the large crowd assembled to witness the interesting ceremony. The whole affair was conducted in an admirable manner and passed off very pleasantly, reflecting much credit on all engaged in getting it up.