The press. (Philadelphia [Pa.]) 1857-1880, October 07, 1857, Image 2

t4e tirtss,
WEDNESDAY; 09TOBER 7, 1857.
opri.sw.r. LEGISLATIVE REPORTS
TekteriPty'S *portant proceedings in the
st a t e I;ei l isi s tare,will be found expressly and
tally 'reported for Tax PRESS, by our
re
porters—J. litiErmonz and J., B. SHER/-
Dem; Egqrs.
MP' OUR NAST PAGE TO-DAY i 6 ftill of in
terest: Editorials; money articles; corres
pondence; communications; news; and elo
quent orations.
GOVERNOR POLLOCK'S MESSAGE TO THE
• SIX. DAYS' LEGISLATURE. , '
Governor POLLINVB Message •is .a much
more reasonable paper than we expected ; and
vie cannot doubt that his modendion and gene
ral &knees is, •In great degree, attributable
to the sentiment of stern surprise which, on
the part of the candid men of all opinions , re
ceived and disapproved his call for the short
special session. We 'commend the spirit in
which it fa written, and hope he will be as true
in the eXeention of his promities as' he has
been liberal in his utterance of them.
This is a world of compromises and of concos-
Sons, and it is great stupidity to deny it. We
cannot bare all we desire; we cannot 'get
everybody to think aswe do ; and, in the long
run; we must be content with the prizes or
'blanks that fortune or . fate awards to ns.
Bence we take what is good in Gov. Pot
tAantift message ci iriththailks." His partial
condemnation of small notes, (which would
'have been a manlier penitence for past errors
bad he !milted that wprd cc now" so cowardly
In the eontext,) , and his plea for an extension
of credit. alike to the suffering debtors of the
banks 'as to the banks themselves—these are
=expected favors, and we , take them grace
frilly and gratefully.
These concessions are tributes to the truth
et experience and the lessons of history ; ex
perience that ail of us have felt, and history
that all of us have read. Small notes were
yesterday a favorite panacea' fOr public ills, and
relief to the banks the rarest discovery in the
materia medico of our financial doctors. N ow
Any airs so worthless as specifics, and so vidue
less as drags, that they are disowned by those
who won the greatest fame as political practi
tioners by patronizing them.
It might have been a much better message;
Init we are glad it is no worser
LAST MONDAY IN KANSAS
We may expect to hear, by every tele
graphic thigh, the news of the election in
Kansas, 'which took place on Monday last.
Recent events ,have , made us somewhat
anxious for this news. But it was the
general belief in Kansas, by last advises,
that the elections would be unaccompanied by
violence. It is true, the 'pro-slavery party
had . strong temptations in the' organization of
a poweithl military force against; the Mis
sourians, ostensibly' to protect tile' netts, but
actually to provoke the opponents of, the
free-State party, now in a small minority, into
a collision This , association has been placed
under the command of that redoubtable hero,
Col. LASE. The presence, however, of a
sufficient number of United States troops 'at
the precincts where violence has been appre
hended ,or threatened will effectually keep
both extremes in check, and afford the highest
safeguard to every legal voter, in the exercise
of his right as a citizen of the Territory to
vote for the officers by whom its laws—Lby
which he is to be governed—,are to be, made
or administered. This quiet adjustment of
the difficulties which • have heretoford agitated
Kansas, , and convulsed the , whole country,
bas been effected through the just, concili
atory, and masterly policy of Gov. WALKER.
To him, unquestionably, will belong the ere:
dit, should his policy prevail, not only of point
ing out to Kansas the safest, most peaceful,
and most practicable mode of getting rid of
her troubles, but of inducing a people, smart
ing with outrage and defeat, inflamed by dema
segues,
,reisly fc;r revenge, and rebellious at
heart, to adopt his counsel; and thus, despite
the exertions of disunioniats, both of the
North i and the South, to destroy all cause, of
further complaint.'
On the third Monday in October—that is, a
fortnightfrom Monday—the constitutional con-
Nention, pill meet in Lecompton, and proceed
to'the task of framing aConatitntion for the
Maio State of Kansas. We confess to some
dread Of „the action of that convention. It
- ess-nrinTver admit Kansas with a gout'-
. tution that has nothcen ratified by tho people.
We have little doubt, therefore, on the ques
tion of submission.
'Regardless, however, of the character .of the
Constitution, we do not• sea hos— it is possible
for the convention, even if it were'so dispos
er:VW evade the submission of their work to
the people for inattention or rejection. We
think it would be injustice to the good sense,
the patriotism, and the hoapety of the,eotiveli
.tioe, to dine, it with an intention to !deny
the people the right of voting on their own
Constitution. The .people haie - a right to
insiii,that it shell be submitted to them. We
insist on it. The Democratic party insists on
it. And the convention may rest assured
that that party will tolerate no !Wens pocus in
the matter. If, by any possibility, the con-
Tehtioii should become so infatuated as to
SOW their Constitution to congress without
A &I! Popular endorsement, they would only
strengthen the enemies of the Constitution mid
Union; 'and provoke new dangers to both.
PUBLIC OPINION IN ABOARD TO THE
CURRENCY.
The observer• of events cannot fail to per-,
oeive that a groat improvement in public;
opinion in this country, on the subject of the:
,currency, has been manifested since the advent:
of the Panic and Pressure, that has periodi-;
catty avenged expansion in banking and e! ex
tension" in commerce. It is apparent, that
men are no longer led, or rather misled, by:
mere names. Time and experience have,
given principles and expediency a fair
sleld and , trial, and--principle has won the ,
guerdon. For instance, the slogan of party
warfare, and personal interest, against the In
dependent Treasury, as procuring a currency;
of "rags for the people," and • another of
"gold and sneer for the office.helders," is;
' heard no more. The practical benefit's of that
wise measure of precautionary, statesmanship
are admitted with gratitude; and from this trP
unapt have resulted reflections, leas important
only beciuse they have not yet assumed shape
-and action. The maces* of 'the principle of
keeping the
,Government revenges out of the
banks, as a sacred fund, reserved and set apart
for the general good,' and . held aloof from the
vicissitudes of
,specnlitMn, inspires • other
thoughts on the all-important subject. of Cur
rency.. There must be something in this Idea
of hard money, 'after; all; and when we be:,
hold' the vast 4:machine of banking breaking
down under its own weight, and the simple
• scheme of the Independent Treasury stand
hig Unhurt amid the wreck, We are very ready
-.to accept those suggestions, in regard
to-currency, so long and so pertinacious!.
ly:)arged 'by the Democratic party." Hence
it lithe% banks, as at present 'constituted, are
no longer surrounded with the odor of sanctity.
Renee, that the suggestion to reform these
, banks altogether is no longer regarded as agra r
ian"and but rather as reasenable and
right. Mince suspension, as at least on one oc
casion heretofore; is not welcomed as a b oon,
but rather as a bankruptcy. Hence' the popu:-
laiity of those recently'rejected 'dcictrines that
credit and debt are not the true basis of a circu-
lating medium. Parties maybe unjust; but Judi
, viduals cannot always resist the teeth ; and it is
no uncommon thing, now-a=days,to , Mid 'men
who were, years ago, the leaders and the de.
fenders of the banking system, at this day de
"mandieg investigition, publicity, and complete
reform. We fix these things as they flit be.
fore us, so that the :public mind may receive
the impressions in time.
CHEERING REPOP.TO.
It id reported In circles likely to know, that
at least one of the leading banks among the
first to suspend specie• payments will resume
Payment' again at a very early day ; and that
the othe-era of other — banks have expressed a
determination to sustain themselves under the
present , law as well as they can, and pre
' pare for'resumption without delay: We hope
thisfeeling will beeonie general among them,
and we have not a doubt , the good work can
soon , be achieved', 'and the character of our
',Mai 104 t4buipolos of or city,be, relieved
AQIII Its pitokaut lutfoitunato oonditiou+
PROSPERITY AND PANIC—NO. 13.
NEW YOBK, Oct. 6
It is customary, in times of pecuniary embarrass
ments, to raise a cry against banks, and to sock to
Impose now legal restraints LiPon them, in order
to prevent future difficulties. It is, however, the
fact that no legal enactments over reach the
ease, because they are never applicable. There
are certain laws of trade and finance which should
govern banks' movements; when :they do so, the
banks never can get into difficulty. The penalty
for violating them is embarrassment and finally
bankruptcy. Statutory law is then invoked to
save them from the penalties of violated laws of
trade. It needs but a passing glance at the history
of the New York banks for the past few weeks
to demonstrate this. A commercial bank is
understood to be one which receives and re
tains the deposits of the commercial men who
form the circle of its dealers ; all those merchants
are in the daily receipt of money for goods mid,
which they do not require to use for the day, but
to keep until their own payments mature. The
payments are usually made on notes given for the
goods sold. If each man retained these receipts
in his own safe until hie note fell due, an immense
amount of money would be idle. To obviate this,
all the same are collected in a common depository,
forming a fund from which the notes of these mer
chants given for goods, at short dates, may bo
safely discounted. If these notes are, at sixty days,
all paid promptly at maturity, the current of money
into the bank will always be a little snore than
the current out. Every note being represented by
goods, the sum of the deposits, as well as the dis
counts, will always rise and fall with the amount
of business being done. It is evident that if the
funds of these depositors are applied to any other
purpose than the discount of business notes pay
able station dates, that a source of difficulty has
been created. If a considerable portion is loaned
to bank officers or favorites, at long dates or re
newals, tho bank has done injustice to its custom
era, exposed itself to a demand for its liabilities,
while it has placed its means to moot them out of
its reach. Under such circumstances, if its liabili
ties are called for, It asks for assistance, or
suspends and asks indulgence of the Legis
lature; This operation is mote clearly seen
if we have recourse to the returns of the New
York oily banks through the passing panto. We
shall then find that the diffioulties which we before
pointed out as proceeding from the operation of
'the banks which redeem county bank notes, era
slot extended to those institutions which confine
their discounts to strictly business paper, not over
sixty days to run,' and which insist upon pay
ment at maturity; as aninstance,the tanks of New
York has in all the panic made no reduction in its
loans whatever, nor has it lost any specie. It has
regularly continued its business while others have
been convulsed. Wo may first look at the aggre
gate reduction in the New York banks as follows :
Loans. Specie. Deposits,
August 8 $120,513,980 $11,737,945 $94,436,417
October 3 105,935,499 11,400,413 67,978,057
/4,58;482
Reduction
Thus, there has been a reduction of $26,457,760
in deposits, and $14,593,481 in loans. Now, amidst
this large downward movement there are five
banks whose capitals are, together, $9,000,000, that
have made no reduction at all. These aro the
Bank of New York, Merchants, Manhattan, PhD).
nix, and Butchers and Drovers. Their aggregate
movement is as follows :
Loans Specie.
$10,660,454 $2,145,109
16,708,350 3;191,213
We have here the fact that no panto or pressure
bas operated upon either of those five banks to
compel contraction. The discounts being short
; business paper, the current into bank has always
;been regular. They have daily had .as many
checks paid'to them for notes matured as sufficed
to meet all elaimi against them at the clearing
house, and although they have continued to dis
count the paper of their customers, they have
gonad more specie than all the other banks.
This establishes the feet that curtailment is not
necessary to self.preservation in a rvell-managed
bank.
We may now look at the banks that have cur
tailed the most. Them are two, the American
Exchange and the Metropolitan, and they have
,been as fellows:
Loftus. Specie. Deponits,
Aug. 8 $13,776,282 11,345,668 112,220,501
Oct. 3 11,169,653 ' 1,035;662 6,877,138
Decrease...s2,olo,o2o $210,000 $5,352,303
Thus, these two banks which redeem uncurrent
money, and held $5,000,000 of country bank funds,
on which they paid interest, have been compelled to
return that money, and to curtail their:dificonnts
violently, in order to meet the pressure of uncut.-
rent money which they are called upon to redeem.
Their deposits have fallen 40 per cent„ and they
have reduced their loans 25 per cent. It follows
that, where the loans are reduced in this violent
manner, all other banks meetipg them at the
leering house, but which have not their means
as mush under their control as the above five
banks, must curtail also, or find the specie for
balances or fall Most of the banks have curtailed,
following Those two banks. The whole number
stands as follows :
Capital. Lamm. Specie.
6 Banks...—. $9,820,730 Inc. $41,896 $1,046,164
2. ...... 7,948,900 8ee.2,010,929 320,089
AS 48,788,125 • 11,943,966 1,073,390
These five banks increased their leans and raised
their specie $1,046,104; two banks decreased their
loans to the extent of one thi hely_canitals.and
laso...smajni , • eg 't ibanks curtailed
leas than one-fourth p
of their capitals and lost about
the same sum in specie that the five, which did not
curtail their loans, have gained.
It is here very evident that the contraction
being forced upon the two banks that are engaged
in the uneurrent money business, the others were
forced to follow in their wake, because they had
not with sufficient strictness confined their dis
counts to the regular business paper of' their cus
tomers. In the last week $1,500,000 bank notes
have been redeemed in Now York, releasing
$1,000,000 State stocks, held as security, and which
are sold to lover the redemptions. ,
It is obvious that where favoritism has existed,
and long or renewable paper been discounted, that.
it is only the hest paper—that is, that which is most
promptly paid—that the banks'eart curtail. Hence
it is that the deserving are compelled to 'suffer for
the negligent. This has been the position of the
Philadelphia hanks,which have strenuously refused
the wholesome operation of the "clearing-house ;"
and it is seemingly incumbent upon the Legisla
ture, in its duty to the people at large, to forfeit
the charters of all suspended banks. If a general,
law is at once passed, like that of New York, com-'
palling good security for all the bills issued, all'
the rest may be safely loft truth° banks, provided
that, by a system of clearing, their operations are
confined within a proper sphere, under the cer
tainty that no legal indulgence will be extended
where difficulty results from a violation of the laws .
of trade. To grant indulgence is to call upon the
industrious, the deserving, and the innocent to
suffer for the idle, the speculative, end the care
less.
It may be mentioned, as an evidence of the die
tress which curtailment canoes to the customers of.
a bank, that the stocks of those banks which have,
curtailed the most fall the most in the market.i
American Exchange Bank sold August 15 at 112;
and this weeek at 66; Metropolitan sold at 107,
and this week 75, while those banks that have not
curtailed do not come upon the market. Tho rea
son is obvious: since it is the dealers of a bank
that usually ruin its stock, they ere compelled,
when cut el' of discount, to get money us they can.
THE OTHER SIDE
The Albany Evening. Journal breaks ground in
favor of paying back to the railroads the duties,
they have paid on their iron. This has hitherto
been a favorite project with lobby speculators. A
year or two ago a company of these gentlemen sent
out a circular, signed, if we are not mistaken, by
Mr. Vinton, Mr. Poor and some other noted men,
proposing that the railroad companies should put a
large sum of money int:Attar hands to enable them
to carry the project through Congress. The prop°•
sal wee not thought to be very creditable to its
authors, and their reputations have not yet re
covered from it. Indeed, there' wore persons, and
journals too, at that time irreverent enough to pro
nounce the scheme an enormous swindle, designed
simply to take money, out of the public treasury,
and put it into private pockets. What was corrupt
then may be all right and virtuous now ; but we
must own that the plan wears a suspicious, look,
which the approval of the Journal does not wholly
remove.—New YorkTritune of the 6th.
These comments of the New York Tribune
are in censure of a movement in the last Con•
gross, headed by Republicans, to repeal the
duty, on railroad iron, and in reply to the Al
bany Journal, the leading Seward paper of
New York. Curious, that while some of our
Republicans of Pennsylvania (vide the North
American) are now complaining that the duty
on iron, rails inclusive, was not high enough,
the distinguished Republicans above named
should demand its repeal ! The movement in
Congress to get rid of this duty was bold and
flagrant enough, and was part of a general
plan of spoliation, comprehending more things
than the iron interest.
FROM WASHINGTON.
(Correspondence of tho Press.)
The Operations of the Independent Treasury
WASHINGTON, Oct. 0, 1857
In the present financial crisis, every day affords
new evidence of the salutary workings of the In
dependent Treasury. When all other sources of
relief have failed, it has furnished moans of pre
serving confidence. It has shielded the General
Government from embarrassment in all its Snort
dal operations, 'and preieried its credit unim
paired. It has exerted a conservative infinenoe
upon the business operations of the country of
such a decided character, that nil candid 'men
must acknowledge that, however bad may be' the
present condition of affairs, it would, have been
infinitely worse, if the Government, like many of
the people, had entrusted its means to the control
of corporations, who would have made them the
basis of additional expansions, and thus greatly
increased the severity of the effects of the present
contraction , It 'mares to all in the employment
Of the Government the payment of their demands
against it in gold or silver. They are thus
Supplied With+ kmu isci uniloprtvia!o4 our
renoy, no matter how many banks may suspend;
and they, in turn, pay out the gold they receive
into general circulation. It must be remembered
that this remark applies notraerely to afros-holders
who receive but a small: proportion of the funds of
thb Oovortiment._ It extends to tire army—to the
navy—to many laborers engaged In nev,y yards,for
titleatioile,,fte, tothensatulatif centractota who trans
port the malls,lninish supplies of yarkais kinds for
the War andNil'iy or other dephitricents,and who in
turn have many thousands in their employment, as
well as to those who receive ponsions i 'ancl to all,
in short, whose services swell up the aggregate
national expenditure to more than $60,000,000 per
annum. The Independent Treasury is thus a good
reservoir for which specie is constantly being sup
lined .to the people, independent of the banks
whenever the latter forfeit their confidence. But
while the latter preserve it, redeem their promises,
and pay specie on demand, the great bulk of money
panes tbrough.those institutions and strengthens
and sustains them. In all the loading Mies of the
Union the drafts and warrants of the Treasury
and cheeks of the disbursing officers are to a groat
extent deposited with the banks for collection, un
less they pursue the unfortunate policy of the bank
ing institutions of your eity,and by suspension, cut
off from themselves the fruitful source of supply of
specie.
Independent of those ordinary operations of the
Government, the present rapid redemption of the
public debt will do much to relieve tho pressure.
On Saturday last drafts were issued for $700,000 of
United States stooks. At this rate the whole na
tional debt would be liquidated in leas than a
mouth. As a largo portion of the United States
stock yet rodeo med, however; is bold as trust
funds by public institutions, or under various wills
and bequests, it is likely that tho holders of quite
a large portion of either cannot or will not
transfer it to the Government, oven in the present
pressing times; but tho incentives offered for tho
redemption of stooks by the late circular or Secre
tary Cone, by which the former premiums are
continued until the first of November, and then.
reduced, greatly increases the disposition to sell,
and thus to swell the amount of 'specie in the
bands of the people.
Without the Independent Treasury, the Boston
and Now York banks would find it extremely diffi
cult, perhaps impossible, to sustain themselves.
And I know of no agency that will prove - more•
powerful intro-adjusting the present disordered con
dition of the currency. It has not only done much
to diminish the extent of existing evils, but it will
do much to assist the recuperative energies of the
country in ramming us from them, and re4stab-
Belting our finanoial affairs upon a salmi basis.
THE LATEST NEWS
ISPECIAL DR4PATOI6OR TIM ?HESS
Appointments by the President.
337,05 26,07,760
WAAIIINOTON, Oct. ft—Thomas Crockett, collector at
Yorktown. Pa , In the place of B. Brelllngham, re
signed ; Dr. Thomas P. Bagnell,• surveyor at Ammar.,
Va., in the place of Samuel Melvin, resigned; Zachy
Herndon, surveyor at Yelasco, Texas, In the place of N.
Rudder, deceased; Thomas Ledwith, collector at Jack-
sonville, Fla., in place of I. G. Dell, deceased; James
M. Cutts, second comptroller of Treasury.
[SPECIAL DESPIFCR FOR TOE PRESS.]
Georgia Election Returns,
Wsenisuroa, Oct. O.—Georgia election return+ indi
rite Brown's election by ten thouaand majority. Bailey,
democrat, la defeated in the Third Dlitrlet, and Linton
Stephens, Democrat, (brother of A; II,) is defeated in
the Seventh. Six Democrats will be elected to Congress
$1,410,164
Nrw Yonu, Oct. 6.—The bills of the Lee Bank,
Maysachusetts, Chartor Oak, and Exchange Banks, at
Hartford, Connecticut, and the Bank of Watertown,
New York, have been thrown out.
13nsvoY, Oct. 6 —The inouetary panic has entirely dis
appeared. There were no failures to-day. The auepen
sten of .Tohn A. Lowell is authoritatively contradicted.
BOSTON, Oct. 6.—At the Instance of the bank cotm
inissionere, a temporary injunction has been granted on
the Western Bank of Springfield, Moen.
HARTFORD,Oct_ 6 —The Charter Oak, Mercantile, and
Exchange Banks have suspended specie payments.
The other banks of this place have resolved not to sus
pend.
New ORLEANS, October 5 —Business le still restricted
by the impossibility of selling exchange. Small sales
of bills on New York have been made at I,iovlx . No
sales of sterling have been reported.
Messrs. Voorhees, Griggs, k Co.'s suspension le an
nounced, but it is supposed to be only temporary.
PISARCIA L AFFAIRS AT ST. LOUIS--SIRETING OF TUB
Sr. LOOlB, October 6.—A meeting of the merchants of
this city was held at the Exchange yesterday, to con
sider the currency question.
Mr. Henry, the flank Commissioner of Illinois, made
a statement of the condition' of the banks in that State,
which was generally regarded as satisfactory.
A committee was appointed to report on the subject.
This committee convened in the afternoon, butadjourn
ed without corning to any definite conclusion. The vote
on receiving currency at par stood tie. Previous to
the adjournment a resolution was passed, to petition
the Legislature to issue no more bonds at present, and
to create a sinking fund for the payment of the interest
on those already tossed. At the other meeting at the
Exchange, held to-day, the announcement of the sus
pettajen of Lucas,dc Co. creatad no exclteinent. The
assets of the firm are ten times greater than their lia
bilities.
A run on the Bank of Illiasontik onsLort„ Mtmmiel 3
o • eltuditattion, hay been made, but
there ie no evidence of their euepentling yet. The re
pier banks continue in a etrong coalition.
At the meeting of the merchants' to-day, a resolution
to receive and pay out the bank cerreney of the State
at par was adopted by an overwhelming vow.
FARMERS' AND MECHANIOW BANK OF DETROIT
Dercorr, October 6.—The Harmers , & Mechanics'
Rank of thle city has been placed under an injunction
by the Attorney General.
W.3BIIINC/TON, October b.—bfessre. F. & A. 11. Dodge,
merchants and importers, are said to have made an as
signment. They were heretofore considered the heaviest
business firm in the District of Columbia.
PriTERBDURG, Oct B.—The Express says, It Is rumored
here this evening that the banks of Wilmington and
Cape Fear, North Carolina, refused, to redeem their
notes yesterday. The Commercial Bank and Bank of the
State redeemed everything. They are all said to be
perfectly solvent.
Wsanuormi, Oct. o . —The Government has received
no intelligense relative to the mission - of . Mr William
Carey /ones, different from what appears in the netts
papers.
ttterney General Black recently made a decision re
lativo to grants of lands for 'railroad purposes, saying
that " a legislative grant by Congress does, of Itself,
proprio pass to the grantee all the estate
which the United States had to the subject matter of
the grant, except what Is expressly excepted.'' There
can be no need of further assurance in order to give tbe
State a title in fee. The definite location of the rasa
will locate the grant upon the proper number of even
sections on either side, with which the United States
shall not previously have parted with the title, and the
selection of the Governor's agent will determine what
sections or parts of sections are to be taken instead of
those sold or subject to pre-emption. Then the title to
each particular parcel will be as complete es' if it bed
been granted by name, number, or description.
Signor lassoed had an Informal interview u ith Secre
tary Cnsato•day, on the subject of his reception as vein.
later from Nicaragua.
It is not probable, as has been published, that the Co.
vernment will advance money to contractors upon the
shipment of materiale, instead of upon the actual dell-
very at designated points, for the public buildings•
Even were this done, the amount of relief to the money
market would be comparatively small. Besides, the law
requires delivery before cash payments.
There are about thirty oases remaining to be disposed
of by the three Naval Courts of Inquiry, which u ill oc
cupy probably eli weeks.
Capt. IV. A. T. Maddox has been appointed Assistant
Quarter-master of the Marine Corps, fu place of Capt.
Sutherland, promoted.
The Mexican - Legation has received no official des.
patches concerning the Tehuantepec arrangement.
The Court of Claims will meet next Monday. .
WAttnizeavou, October o.—The New Orleans papers
received by the Southern mail announre the arrival at
that City of Company I„t'ourth Artillery, and of de
tachment,' of two other conlpanies, en route for Leaven
worth. The news in the ether papers furnished by the
mail le unimportant. -
New Wax, Oct. o.—Thu steanier Fulton, from South
ampton on the evening of the 23d ult., arrived at her
wharf at five o'clock this evening. The Fulton's witless
are a few hours later than has been received, and she
furnishes London papers of Wednesday. She brings no
news of importance. . .
The Fulton brings t 104,000, in specie, to L. Von Hoff
man & Co.
Capt. Wotten reports that, when abreast of Cape
Race, on Friday evening last, a telegraphl'e, report Of
the latest markets and English news was, given to the
captain of a fishing smack, who promised to take It to
St. Johns, or the nearest telegraph station, the nest
morning.
On Saturday last,' the Fulton passed the American
barque Jenny Pitts in let. 45 60, lon. 57.10, standing
to the southward.
AuoverA, Oct. o.—lt is admitted that in the recent
election judge Brown (Democrat) has been elected Go
vernor by from 8,000 to 10,000 majority.
The returns indicate the election of Trippe, in the
third 'Congressional district, and Joshua Dill, in the
seventh district. Both of these aro Americans. Craw
ford Ciartrolle, A. 11. Stephens, and Mr. Wright, Demo
crats, are elected in the second, fourth, and fifth die
trlcts. From the first and sixth districts there has been
but httle heard.
nosrou,Oet. o.—Among the bequests of the late John
C. Thayer was $50,000 to 'Harvard College, the income
of which is to be applied to the aid of the ten beet un
der-graduates who may ho in need of, pecuniary assist
-61100.
New 3hark Temperance Convention
paseauss, October o.—The state Toniperance Con
vention bas organized, and a Cdrinnittlie on Business
been appointed.
Murex, Oct. 0-10 o'clock P. M.—Tho steamship
Niagara, DOW duo with three dap later latices from
Liverpool ; bautiot yet been eigtialled below.
Slsw Oraustas, October 6.—The Cotton market 're
easier to-day, with sales 0f1,200 bales ; prices are, how.
ever, too irregular to quote. The receipts have been
7,600 balm, Bales of red Wheat at p osl
THE PRESS.--PHILADELPHIA,, WEDN ES DAY, OCTOBEM t 7, 18 57.
BY TELEGRAPH.
Financial Affairs
EMI=
FAILURE AT °EOM/STOWS, U. 0
THE NORTII CAROLINA BANKS
Washington Affairs
The Southern Mall.
Arrival of the Fulton
The Georgia Election
Bequest to Harvard College
Non•Arrival' of the Nleguta.l
Markets
BY MIDNIGHT MAIL
FROM HARRISBURG.
The Special Session of the Legislature
FIRST DAY'S PROCEEDINGS
PROM OUR SPECIAL REPORTERS
[Exclustre Correspondence of Lisa Press ]
HARRISBURG, October 6, 1857
SENATE.
At 12 u'olock M.l the Senate, in,ooraplianee with
the proclamation of the Governor, iras dolled to
order by Speaker FINNEY.. Messrs. Wevrott and
CRANE were absent.
On motion of 111 r. SOUTHER, tilo proclamation
Was read
Mr. WIIIOIIT offered a resolution that a com
mittee bo appointed to wait upon the House and
inform that body that a quorum of the Senate was
present and ready to proceed to business; which
was adapted, and Messrs AVitraur and SOUTUEU
were appointed as such committee.
A few moments afterward, Mr. Willa itr informOd
the Senate that the committee had discharged tho
duty confided to them.
Mr. Lewis presented a resolution that a com
mittee of three members of the Sonata bo appointed
to act in conjunction with a similar committee of
the House, to inform the Governor that the Gene
ral Assembly Is organized, and ready to receive
any communication he may have to make; which
was adopted, and Messrs. Lewis, Bnowne, and
GREGG were appointed such committed.
Speaker FINNEY announced that the standing
committees would stand as at the last session, with
the name of the late speakor.:TAortAnr, in place, of
that of the present speaker.
Mr. Weiss moved that when the Senate ad
journs,it bo to throe o'cloolc of the afternoon, which
lie subsequently withdrew, Mr. JORDAN suggesting
that the circumstances at the hour of adjeurnmept
had better decide tho question.
A committee from the House was introduced,
who informed the Senate that the Ifouie was or.
ganized and ready to proceed to business.
The clerk of the House presented an extract
from the journal of that body that a committee,
to act in conjunction with a like committee on
the part of the Senate ' had been appointed.
Mr. Lewis reported that the committee ap
pointed to wait upon the Governor had dimheyged
that duty, and that the Governor had informed
their that ho would communicate with the General
Assembly. in writing, immediately.
A. G. CURTIN, Secretary of State, being an
nounced, presented a message, in writing, from'the
Governor, which was read.
Those present of the Senate are Messrs Brow* .
Browne, Coffey, Cromwell, Ely, Evans, Fetter,
Flenniken, Frazer, Gazzam, Gregg, Harris, In•
grain, Jordan, Killinger, Knox, Laubach, Lewis,
Myer, Scofield, Sellers, Shuman, Souther, Steele,
Straub, Tagg lrt, Welsh. Wilkins, Wright, Finney,
(Speaker)
On 1001100 of Mr. BitoWati, the message was ordered
to be printed. ,
MAN pr Joßvresented a bill embodying the main
features of the message. " An act concerning banks,"
1000 extra copies of which. on motion of Mr. Ws war,
were ordered to be printed
Mr JORDAN moved that the bill, together with the
message, be referred to a select committee of seven.
Ile did not believe that the terms of the bill W 04141
meet. in all their details, with the approval of aifery
member. It may he that it did eat perfectly. express
his viva Idea, as it was hurriedly drawn up. Still, as
they had only a week to consider Ott subject, he
thought it hest to offer it at once.
The motion was agreed to, and the Speaker stated he
would name the Committee at the next meeting.
Mr. Bnowee presented two bills and a joint resolu
tion. Ile would explain the course he intended to
pursue Ile did not propose to extend any relief to the
banks In their present emergency; and ho could not do
so velem ample guaranties were granted for the
future. Ile submitted a general banking law which
contained these guaranties : also an act ninth o
to the floating debts of railroad and navigation com
panies. The latter lie considered germane to the
subject for which they were vaned together. The
rutty in the financial affair , . of the country originated
in a great manner in the loose insuagement of roll
route, and the accumulation of great limiting debts,
for which they had issued bills receivable, under
color of which they had absorbed the capital of the
cities, at rates of Interest excluding business men
from all competition The community Was at this
time suffering from what may be called a railroad-grip. I
It is, therefore, to restrain these Companies, hereafter,
from becoming borrowers 'at Injurious rates of intermit ,
and for excessive amounts in the leading money
markets of the country—in Philadelphia and
Pittsburgh—that he proposed the second bill.
He had also a bill, entitled Joint Resolutions, re- I
lative to the control or restraint by CengrMi of the'
• circulation of paper money If public sentiment wan to
be started on the subject, now was the time; No legis
lation, to operate within the limits of nuy particular
State, can accoinplish this object ; Congress has, or can
have. the only constitutional power. Ile proposed it as
a point on which proper discussion could take place,
hoping that the resolutions might be adopted by the As
sembly of Pennsylvania
Mr. Monett, moved that 1000 extra' copies of eaeL
bill he printed for the use of the Semite.
Mr Kthi.nsueft was unwilling to vote for any such
extra number. Ile wan willing to meet the responsibi
lity
that was upon them. Ile had come into the hall in
the expiring days of his Senatorial term, under the con•
stitutional call of the Uovernor, to don certain thing—to
discharge a certain duty. The message indicates what
that duty in and specifies the particular responsibility
imposed on the Legislature In the existing emergency.
The hill of the Senator from Bedford (Mr. Jonemi) had
evidently been prepared with some care, and was in
consonance wlth the Governor's views. The whole
case then WAS before' the Senate. The Senate entered
one thousand extra COI/inn of that bill to be printed with a
view of allowing the people who are watching these
proceedings to tioe.wlint is the proposed measure of re
lief, Having gone thus for the donate should stop.
The proper time for debate is ashen that bill has been
reported back. A series of bills end joint resolutions
is proposed by the Senator from Philadelphia, which
have not, so far as could bo seen the slightest con
nection with the prom i
pt distress n the community:
Ho was not prepared to say there were not many goad
suggestions in those hills on the general subject of bank
ing. If thin were a regular SOFA= some of them might
receive his vote; but it was not. Next Tuesday the
people would select other representatives, with an
understanding of all these quenelle, and to them ho
should confide their consideration. He was in favor of
meeting the particular question submitted to them fairly
and promptly, without regard to arty motive. or tp
termite. Ile would hesitate Bing bereee he woul .. d
vote
to print 1,000 extra copies of resolutions instructlisg
Convene in Oa constitutional duty. ,
The resolutions were gravely Important and, maw
the circumstances, he must oppose the motion to print
extra copies. He was willing to print the usual num
ber ; hot when the matter came up lie would refuse to
entertain the questions proposed Ile was here for four
or five dnye to do a certain thing—nut to open the door
to all questions of railroad companiee, navigation com
lanies, preferred stock, dec. If the people wanted a
egislature to carry out%particuler views on all their
questions let them send them here In the meantime
least said is soonest mended, and thelesst done the best
for us and the people of the State.
Mr Booms': sated that the Senator asked what they
came for r IYhathave they mine for I To discuss and
act with reference to the monetary troubles of the day.
Time may be quint prolitably in ouch discussion, On
Tuesday next the people will weigh and decide for'
themselves, and to them he was willing to leave the nut
ter If this Legislature, not elected with an eye to those
important questions, were to epeud the time in disown
ing the propriety and fitness of this scheme, that
scheme, and the other scheme, for the relief of the
evils under which the community labors, it would be
them well spent, Senators all round may throw some new
light on the eubject, no that the people will bet enabled
at the elections to vote understandingly. Those who
come here then will know what their constituents
want, and will hare their encouragement. Ile snored
a reference of his prepositions to a select committee of
five.
Mr SCOFIFLO made the motion to print extra num
bers in both instances, not with a view to compliment
Senators °Bering the proposition, but for the benefit of
the people at large. ,
Mo. WILKINS asked, why print one thousand extra
copies of one bill and not of another
Mr K1L1.12.0E11 replied that the bills offered by the
Senator from Philadelphia opened up too wide a field of
discussion, when they had only a few days in which to
sth ; they were outside of the object for which they were
called here.
Mr. Wilditeli made the inquiry because he did not be
lieve that the Senator would be Invidious. Any bill, o
any proposition, that may be introduced In vieiv of thi
important subject, cannot be outside of the call of the
Governor's proclamation. Take at extensive a view of
the subject as you please, introduce what bill you
will, on the right or the left, from partisans of
either of the great parties of the State, and you can
not go outside of the comprehensive s iew takeu by the
Got ei nor. lie presents it to us to embrace almost every
vital interest of the Commonwealth So important, so
extensive, so broad and deeply vital and interestieg
is this subject, that it induces Ithe Governor to
take up the language of the Conatitution, mid sly,
that no extraordinary occmieu had °mitred which
requited the call of the Legiblitture together in extra
session. What is the language of the Governor The
whole Slate is contester', the vital interests of the peo
ple at stake, commerce, trade, agriculture, Menefee.
tore—all the interests of the country are Involved lu
embarrassment, and threatened with ruin. Yet the
geutimeen is for taking a contracted view of the sub
ject. Row is it possible to bring before this body a too
enlarged view of the subject? It comprehends every
thing pf the interests of the Commonwealth. Tim
honor of the good old State; is at stake. The
eyes of the Union aro fixed upon us The
eyes of Europe, if they could have read that
proelaniation, would be upon us. The banks of
Pennsylvania are seen taking the lead iu suspending
specie payments, thus throwing the entire community
Into confusion. If round us In adjoining States the
banks pay in coin, if Ohio and New York pay In coin,
whose honor Is affected Pennaylvada is pointed at
as the only State that has brought about this confusiim
in the monetary affairs of the country. Act in such sway as
to redeem the honor of the State—shoe; the high-mind
edness of Pennsylvania. Without doing injustice to
any portion of the community restore quiet and health
ful action to the financial affairs of the country.
What question is not embraced in the call made by
the Governor? The gentleman from Imbenon le in
clined to take a contracted view of the subject. The
bill of the Senator front bedford adheres to the Go
vernor's recommendations, and be will not travel Outs
side of it, Ile is *willing to take up the subject
and to legislate generally' on It If you under:
take to legislate on this universal evil—this
evil' Involving us in embarrassment and...dishonor—
will you not legisleto in suck way as' to prevent
its recurrence? Now is the accepted time to guard
against a recurrence of the evils under which every man
in the State labors. Is it not an imperative duty to take
up the subject, and Incorporate in bank charters such
guarantees and guards as swill prevent a recurrence or
this evil? Ito wait willing to act out the most lib
eral principle for the relief 'of the community,
but pith caution. lie would net pardon the Linke
for the catastrophe they had brought upon the State
and her people. • Ile might reprieve them for a silted
time; but in granting such a reprieve, he would en
deavor to enforce such provisions as to restrain them in
the future from undue aniLiticautious expansion—
restrain them from trading on7is deposits in their linivd.
When the banks suspended speciepayment they did so
with the penalty of forfeiture of their charters, under
the act of IMO, ztaring them In the face. Ile would
relieve the banks, but bind them for the future. ife
would take advantage of the present opportunity to
restrict the banks ru the mode in which they de
clared their extravagant dividends. A bank m
his town—two of them stilt redeem their obligations
and aro not to be shaken—received a new charter, hav
ing a nose name and its capital increased, and about five
or six months afterwalds• it declared a dividend of 10
per cent —5 per cent for the last 'ilk months. duet then,
at the very moment the dividend of 5 per cent was paya
ble it suspended specie payment. It now calls on this
Legislature for relief. It says that it cares nothing
about it—that the people are now fhb sufferers. The
banks call on the people to stand up in their defence
against the indignation created by their 'nisi:Wings. Ile
was for looking at the question in all its aspects and
noting effectively and understandingly.
ate. wee would vote to print extra, copies of the
bill concerning banks but not of tug remaining two. •
Mr. Ileowee said that It was immaterial to him whe
ther one hundred or sue thousand copies Isere printed.
All ho wanted was an opportunity during the session to
express his views on certain questions which Ito deemed
involved In the existing condition of financial affairs.
The difference between him and the gentleman from
Lebanon Was, that while test gentleman believed the
disease was local and seeded only slight retnedlea, he
believed It to be constitutional, and demanded radical
remedies
Mr. Witionr presented n bill in place which, ho be
lieved would meet with the a 'ewe of a large majority of
his constituents; it inhibited the issuance of notes by
the banks of a denomination less than $2O The bill
was referred to the Committee on Banks, and ordered to
be printed.
The SPRAYER informed the Senate that the motion
of the Senator from Philndelphia (Mr. Buorrnc) to refer
hispropoitiou to a select committee of 800, had not
yet been acted upon. The question,was taken, and the
motion was agreed to; so the bill was referred ton special
committee, to be named by the Speaker at the neat
meeting.
Mr. Lewis, by general consent, submitted a bill re
latins to She banks of this Commonwealth, which wall
toferreil to the special committee of seven and ordered
to be printed.
Mr. tiro tun, by consent, read it bill entitled—m A. bill
hr extend relief to the people." It providaft that from
rut after the passage of the net, the collection by exe
cution of all debts uow duo or to become due by indi
vidual copartners or arms other than corporations
established by law, to any bank -of idsue, discount,
and deposit or loan company shall Ira postponed until
---, and that all acts and parts of acts requiring the
payment of taxes upon bonds and mortgagee or moneys
on interest, by individuals or firing, ottler than corpora.
Mons established by law, be repealed, provided that it
shalt not take effect until the first day of January,
1856
- -
Mr. Rito.mait moved that one Monello' copies be
printed for the use of the Senate, which was not
agreed to.
On motion of Mr. STRAUB, the bill was referred to the
Committee on Finance, and ordered to be printed.
The Eptaker . p re tooted to the Senate the following
"memorial, whit 'twos read, referted to the Special Coni
mittee of seven, and ordered to be printed
, At a - meeting of the Board of Presidents of the - hooka
of the city of Philadelphia, held en the 3d day of Octo-
Ler 1851, the following preamble and - resolutions were
unanimously adopted, end directed to be forwarded to
the Honorable the Semite and House of Representatives
of Pennsylvania
‘‘ Whereas, Toe bunks of this city, in consequence of
the sudden effects of the sudden and universal severity
of the financial crisis which has overtaken the country,
have been reluctantly compelled to suspend the payment
of specie for their notes and obligationts,notwithstateling
every effort has been made by thorn to avoid such neces
sity; and whereas, the mercantile, manufacturing, agri
cultural, and all other classes of our citizens are greatly
embarrassed by the existing condition of things, towards
which, under existing circumstances, it is nut in the
power of the bunks to afford ouch relief as the exigencies
of the community require, In consequence of their labor
ing under the forfeitures and penalties of the act of 1830
and other acts, and whereas, it is the desire of the banks
to resume the payment of specie at the earliest practicable
period, and to do what they can towards restoring the
currency to a sound and healthy condition, and In the
meantime assist the business portion of the community;
nhich objects cannot be carried out unless the legisla.
tire forfeitures and penalties are temporarily suspended.
Therefore
'• Resolved, That in order to enable the banks of this
city, and of this Commonwealth, to resume the pay
ment of specie at the earliest practicable period, and in
the meantime render such assistance as may be within
the power of the banks to the mercantile nod business
community, It is essential that the penalties and forfei
tures Imposed by the act of 1810, and other acts, be tem
porarily suspended.
" Resolved, That iu the event of the failure of the
banks to obtain from the Legislature relief from the
forfeitures and penalties under v. hlch they at present
labor, there remains no alternative for them but that of
going into liquidation, a measure which they aro most
desirous to avoid, on account of its disastrous influence
on the community and the banks
"Signed by order of the Board of Presidents,
" J. B IIIITCUELL, Chairman.
" JOHN JORDAN, Jr., Secretary.
Phila., Oct. 3, 1857."
Mr &mallow, moved that when the Sonata ad
journ ,It be to meet to—morrow morning at 10 o'clock,
which motion was agreed to.
Mr TAGGART by general consent submitted a bill con
cerning the banks, which was referred to the select
committee of seven, and ordered to he printed.
Mr. Scorers offered the following resolution:
lir:wired, That the State Treasurer be requested to
info! ni the Senate a hat amount of money has been de
posited by hen in the hanks of this Commonwealth in
accordance ulna the laws or others ise, authorizing him
to make arch deposits, and also what amount of bank
note: are in the treasury, and also on what banks sa id
notes are.
The resolution was read a first time and laid over
under the rules until to-morrow.
Mr. Intowag wished to inquire before the Senate ad
journed, whether any steps had been taken to procure a
statement of the present condition of the banks' lie
thought it should be obtained before any action was bad
by the Legislature on the imptketant subject which they
had under consideration.
Mr. JORDAN apprehended that it would be utterly im
possible to have such statements made in the short Unto
allow ell them. Such statements were mode out with
et.usiderable detail, and if furnished In a few days lie
thought mould nut be very satisfactory. For this
resson the, would be obliged to legislate in the dark
upon this question.
Mr. Witsiss suggested that the gentleman from
Philadelphia, (Mr. liauwsis) could offer a resolution
railing upon the Auditor General to furnish such
information as he might have procured since
last November on the subject. They were now
acting in the thrk, and would have to discover some
way of raising the veil which concealed from them the
present condition of the banks
Mr. linowsis said they should be called upon to decide
whether or not this suspension was justifiable, and if so
to what particular time it ought to be legalized, and in
order to decide either of these questions, they certainly
ought to know the condition the banks were in at the
time they suspended—what their circulation was,
what their liabilities were,
the amount of spe
cie on hand, &u . It appeared, as he had anticipated,
that these institutions from the city of Philadelphia
ad welt as from other parts of the State, were about to
ask the Legislature to act upon this question, at the
same time withholding information which 'was abso
lutely necessary, in order to form a Correct judgment
Ile trusted that some ono who felt himself particularly
interested to the success of the application of the
banks would obtain some general statement from the
city and country banks of their present condition.
Thu statement need not be as comprehensive as that
required by the act of 1650, and need not take ono hour's
time of any cashier or intelligent clerk to make out
and be ventured to assert that if it was asked) for it
cacti be furnished by to-morrotv. Ile would not offer a
reuolation calling for It, for if the parties who were
applying did not think proper to furnish such informa
tion, silly, of course, Senators and Members could be
left to their own presumptions, which would not be
rely favorable to the present condition of the banks
The Speaker reminded, gentlemen that there one no
question before the Senate.
Dix Gaze to presented to the Senate the memorial of
the citizens of Pittsburgh, adopted in town meeting,
setting forth their confidence In their city banks, sta
ting that their suspension !Ina been caused by financial
disasters occurring in other parts of the country, and
that they believed they were entitled to protection by
legislation and entire remission of the penalties im
psed by the law of IMO The memorial was read, and
laid upon the table
Mr &111/FIELD rend, in place, tho following joint roso
lotion:
iterolved. That the Legialatr ro will adjourn on Mon
day, thu 12th day of October inetaut, at 12 o'clock, M.,
acne die.
The resoluhon was laid over until to-morrow, under
the rules.
Tho Sonato Mon, on motion. at ball past two o'clock
adjourned.
HOUSE OF REPRESENTATIVES.
Several hours before the time fixed for the meet
ing of the Legislature tho hall of the House was
crowded with members and others engaged in the
interchange of opinions en the subject they had
been called together to consider.
At twelve
o'clock M. the House was called to
Order by the Speaker, J: LAWRENCE GETZ, Esq.,
of Berke county.
On motion, the roll was called, when eighty-six
members answered to their names, as follows
Messrs. Abrams, Anderson, Arthur, Augustine,
Babcock, Backus, Beck, Monson, Bishop, Bower,
Brandt, Calhoun, Campbell, Carty, Chase, Cleaver,
(Lock, Ent, Eystor, Fausold, °Utica
Hamel, Hamilton, Hancock, Harper, Heins, Hies
land, Hillegas, Hine, Hoffman, (Borks,) Hoffman,
(Lcinnion,) Housekeeper, linbrio, Jacobs, Jenkins,
Johns, Johnson, Kauffman, Kerr, Knight, Lebo,
Leimnring, Longaker, Lovett, ?Annear, Weal
moot, M'llvain, Moorhead, Mumma, Musselman,
Nichols, Nicholson, 2 4 runnemacher, Pearson, Pet
er , Pownal, Purcell, Ramsey, (Philadelphia,)
Reamer, Roberts, Rupp, Shaw, Sloan,Smith,
(Cambria) Smith, (Centra) Stevenson, Struthers,
Thorn, Tolap, Vonvoorlds, Vickera, Voegh
Wagonseller, Walter, Warner, Westbrook,
Wharton, Williston, Wintrode, Withrow, Wright,
YearsloY, Zimmerman, (Mr, (Speaker.)
The iihsentees were Messrs Briekhouse, Ball,
Drown, Crawford, Dickey, Foster, Hill, Lines,
Mangle, Penrose, Ramsey, (York.) Reed, Smith,
(Lucerne.)
A message TOM received from the Senate in
fvrming the liouselthat that body was organized,
and ready to proceed to business.
On motion of Mr. 'KNIGHT, of Philadelphia, a
comuittea of three was appointed to wait upon the
governor, in conjunction with a similar committee
from the Senate, and inform him that the Legisla
ture was organized, and ready to proceed to bust-.
11045.
Mr. G ILI/EA °tiered the following resolutions:
Resolved, That it is duo to the people of the
Commonwealth that they and their representatives
should know the condition of the banks of the
State before proceeding to legislate upon the recent
suipeusion.
Resolved, That the banks of the Commonwealth,
be required to exhibit at once to the Covernor, to
be transmitted to the Legislature, their condition.
the exhibit to be in such detail as shall show the
amount cf their deposits and circulation, the cha-
Teeter of the securities upon which they have been
loaning money; that the Legislature may know
the amounts loaned fur legitimate business, and the
amount loaned for mete speculative purposes.
The resolutions were road a first and second
time.
Mr. Tnoit:S thought the consideration of the re
solutions had better ho postponed until the message
of the Governor was received and read. when they
could he bettor considered.
Mr. MCCALMONT crux of rho saute opinion.
Mr. Gita,na consenting, the consideiation of the
resolutions wan postponed.
A. 11103.911g0 in writing was received from the
Governor by the hands of the deputy 6ecretary of
State, which was road as follows :
GOVERNOR'S MESSAGE
EXECUTIVE CHAMBER,
Harrisburg, Oat. 6, 1857.
To the Senate and House of Repeeeentatives of
the Commonwealth of Pennsylvania,in Gene.
nz/ Assenshly -met :
Guismnitirsi : 13y virtue of the power conferred
upon WO by the Constitution, I have deemed it my
imperative duty to convene the General Assembly
at this time. Ate extraordinary occasion for so doing,
as contemplated by the Constitution, has arisen,
and accordingly you have been called together to
take into consideration and adopt such measure of
relief as the present exigencies may seem, in your
wisdom, to demand.
A sadden and severe financial revulsion has oc
curred, inducing a suspension of specie payments
.by the banks of this Cominortnealth and in some of
our sister States. This seas unavoidable, having
become front tho operation of causes, unnecessary
now to he enumerated, a stern necessity. Thus
circumstanced, the community aro suffering from
tho want of a currency, the destruction of confi
dence, and the numerous evilsconsequent on finan
chit embarrassment. Every department of indus
try has felt and been disastrously affected• by the
shook; trade and commerce have boon paralyzed,
the increhant. the manufacturer, the mechanic
have aeon their bright prospects suddenly blasted,
and many have boon involved in a ruin which no
ordinary sagacity or foresight could avert.
Many of our furnaces, rolling mills, and factories
have been closed, extensive and valuable coal ope
rations have been suspended or abandoned, and
thousands of 'workmen are out of employment, op
pressed whit doubt and auxioty, and alarmed with
gluon - 1y apprehensions of the future. It is not my
intention to discuss in this communication the
cause of the present financial difficulties and com
mercial embarrassment. The evil id upon us, trou
bles surround us, and to relieve the community,
restore confidence, and bring back the prosperity
lately enjoyed, and which it is hoped is but tem
porarily, interrupted, prompt and linrrnonious ae
lien, wise and generous logislation„ will be re
quired. The pit:sent es.igeney requires, and every
consideration or the present and future interest to
the' Commonwealth and the people would seem to
demand, that the banks should bo released from
the penalties and forfeitures ineurted, and a sus
pension should, be authorized for such reasonable
period ns will enable them safely to resume the
payment of their liabilities In specie.
To force the banks into a too early liquidation
would compel them to require immediate payment
from their debtors, and would entail upon the
community the miseries of whle-spread bankrupt
cy and rain ; while, on the other hand, an unrea
sonable extension of the unnatural state of sus
pensiont would greatly increase the evils of an irre
deemable paper currency. The resumption of
specio payments should not 'be postponed longer
than is clearly necessary and the best interests of
the ocannunity assay require.
The general embarrassment and depression Tot
trade and commerce, and the consequent deprecia
tion of the value of real and personal property, if
permitted to continue, will seriously affect the
revenue of the Commonwealth; the credit of the
State, now co well. sustained and so honorable to
her character, may be endangered, not by any in
ability to pay, but from the difficulty, if not the
impossibility, of procuring a medium in which pay
ment can bo made.
The faith of the State must be preserved intact
I therefore recommend that the banks, which may
be relieved from the penalties upon such suspension
by existing laws. shall be required to make a satis
factory arrangement with the State Treasurer, by
which it will be enabled to cons oft the current
funds in the Treasury and balances standing to
his credit in any of the solvent banks of the Com
monwealth into specie, as soon as the same shell
become necessary for the payment of the interest
on the funded debt
And, as a further relief to the community. and
as a 'Condition of the release of the penalties and
forfeitures incurred, it is respectfully recom
mended that the solvent banks of the Common
wealth, which paid specie for all their liabilities,
immediately prior to their late general suspen
sion, shall be required (under each limitations
and restrictions es may he deemed expedient.)
to - receive the notes of each other,continuin g solvent,
at par, in payment of all debts due, or to become
duo to them respeetivefially during their suspension;
the bank or banks resuming specie payments to be
relieved from this condition.
. . .
Fur the relief of the debtors, provision should
be made for an extension of the.timo in which ex
ecutions on judgments may increase the period
now provided by law for the stay of executions.
The issue of relief or bank notes of a less denomi•
notion than five dollars should not now be author
ized, nor should the banks, during their suspen
sion, be permitted to declare dividends exceeding
six per cent. per annum.
The monyed institutions of the Conimonuealth,
it is believed, are geneially in a sound and solvent
condition; and if the measures suggested be adopt
ed, the banks will be enabled to meet all their
liabilities, supply II currency adequate to the de
mands of legitimate trade and the ordinary busi-
Otto of life, regain public confidence, aid and re
vive every branch of industry, and save their
creditors and the community from the bankruptcy
and ruin inevitably consequent on the intonso
pressure of the present financial crisis.
The questions submitted for your determination
are important and numerous They rise far above
all partisan unpolitical conqiderations or calcula
tions A suffering community in the hour of their
anxiety and peril expect at your hands prompt and
patriotic action for their relief.
Influenced by no ordinary consideration than
tho public good, prompted by no other than hon
est and honorable convictions of a public and pri
vate duty, may the result of your deliberations
meet the expectations, relieve the wants, and hex
monizo with the true interests of the people.
JAMES POLLOCK.
Mr. GILDEA moved that two thousand copies of
Message be printed for the use of the members of the
the House Mr. HEINS moved to amend by adding
600 copies in the ,German language, which was
agreed to, and the motion, as amended, adopted.
Mr. Ifinswin asked leave to read a bill in place,
entitled "a bill relative to the suspension of specie
payments by the banks of this Commonwealth, and
providing for the better security of noteholders
The bill was laid upon the table, and ordered to be
printed,
At the nugge9tiou of Mr. TIIOIIN the, reiolutioui of
Mr Omura were made joint resolutiona of the House
Senate
Mr. JENKINS thought that if the resolutions were
adopted they would have no practical effect, as the In
formation could not be received in time to act upon it
during the few clays they would be iu se , slon No time
ought to be spent in uniting, but they should act im
mediately.
Mr. flit.ints acted upon the presumption that the
banks Item prepared to make the statement Ile did
not suppose that they expected leghlation without
fornishing the information asked in his resolutions, and
was quite aura that it could be I uruished by the middle
of the week. If it was furnished they would act under
fitandingly, and grunt the necessat y relief; but if not, it
nos the fault of the banks, who should auger.
Mr. (Moss ,said they could nut act without infor
mation. The banks asked relief; and If they did not
straw their present condition, how; in the name of com
mon aense,could they expect the Legislature to afloat
HI The Legislature did not know s hat the result of
its ashen might be, and what parties might be wronged
in merely granting the relief suggested In the message
of the flovernor.
Mr JENKINS thought Immediate relief of some kind
Was necessary for the difficulties under which all classes
•wore laboring, and the members of the Legislature had
come together from all parts of the Commonwealth with
a general understanding as to the relief needed in their
respective localities if they conferred together they
a mild be able to agree upon seine measure which would
be satisfactory, and he thought such a retiree would be
better than wanting for intelligence which would take
more time than they had to spare. Ito was in filler of
having ouch a statement 89 that called for by the reso
lutions submitted to the next Legislature
Mr Maumee moved that the words " at once" should
be stricken out of the resolutions, and " the second
Tuesday is, January" Inserted in their stead It would
take a longer time than that allowealf to them to receive
the information, and the next Legislature would be
better prepared to act upon the subject. lle a billed to
offer a resolution relating to the final adjournment
The ttreAnnft stated the amendment could only he re
ceived by general consent.
Mr THORN objected.
Mr II tureen moved that thelfouse resolved itself in
to committee of the whole for the purpose of cousid
ering the amendment.
Mr. FA [Note moved that when the llonhe adjourned
it be to meet to-mon row at 11 o'clock, which motion was
.igreed to Yeas 47. nays 42
Mr. JIMIIINS nerved to postpone the consideration of
the resolutions in order to introduce a [notion that the
message of the Governor be referred to a special com
mittee of fourteen, to be appointed by the speaker,
ss h ich was not agreed to Yeas lit, nap; 74, as follows
I - gas—Memo Augustine, Babcock, Bishop, Bower,
Dock, Hine, Jacobs, Jenkins, Kerr. llusselman, Steven
son, Struthora, Thorn, Witherow, Wright, Zimmerman.
—le
NAYS-4/e5501. Abrams, Anderson, Arthur, Backus,
Ball, Beck, Benson, Brandt, Calhoun, Campbell, Carty,
Chase, Cleaver, Crawford, Ent, Eyster, Fausold, 0 itbo
(my, (iildea, Ilamel, Hamilton, Hancock. Harper, Reins,
Illestand,lllllegas, Hoffman, (Becks,) Hoffman, (Leba
non,) Housekeeper, Imbrie, Trines, Johns, Johnson,
Kauffman, Knight, Lebo, Leisenring, Longaker, Lovett,
3f anenr , Al'ealmout, M'itvain, 3loorhead, Mumma,
Nichols, Nicholson, Nuonemacher, Pearson Penrose,
Ramsey (Phila.), Reamer, Roberts, Rupp, Shaw, Sloan,
Smith (Cambria), South (Centre), Smith (Lucerne), To
btu, Yanvoorhis, Tickers, Toeghley, Wegonaeller,
Walter, Warner, Westbrook, Wharton, Williston, Win
trode, Yearsloy, Peters, Pawned!, Purcell, Hots,
Speaker —47.
The question then being on the motion of Mr. Hex
-000 to go into Committee of the Whole,
Mr. Payson) moved that tho House adjourn; which
!notion was agreed to, and at quarter after 1 o'clock
the House adjourned.
ONE DAY LATER FROM EUROPE.
The City of Washington, screw steamer, from
Liverpool, and the Fulton, rrom Southampton,
both leaving on the 23rd September, arrived at
Now York yesterday. Most of the news was an
ticipated by intelligence which we published yes
terday.
At Belfast, ou Sunday the 20th, the Rev. Mr.
Hanna again attempted to preach in the streets,
hut the Mayor stopped him and sent him home
Great crowds wore present and slight disturbances
took place. Four hundred constabulary patrolled
the town.
MILITIA RIOTS Is LIIIERICK.—Accounts have
reached Lublin of a series of disgraceful riots in
the city of Limerick, which lasted during the
evenings of Saturday and Sunday. 20th, the rioters
being the recently embodied county of Limerick
regiment.
The Rev. Win 11. Milburn, "the blind preach
er," has boon lecturing in Liverpool with much
SlletCs9
EMANCIPATION of 'UNMAN SERFS.—The
mission for the emancipation of the fella has just
drawn up resolutions favorable to the safe progress
of this work.
Above 100 Austrian officers are said to have of
fered to servo in India.
A letter from London to the Paris Patrie asserts
that Nene Sahib was marching upon Lucknow at
the head of 14,000 or 15,000 insurgents, and that as
ho was four days ahead of General Havelock, it
was considered certain that he would effect u junc
ture with the Oude rebels before the English Hone
raPs arrival. The fort at Lucknow, however, was
deemed impregnable, and hues well supplied with
ood and water.
Private letters from the fort at Agra to the 25th
July report all well, without any signs of further
attacks by the rebels.
LONDON MONEY MARKET.
From the Turns city article, Wediastlay
The funds continuo without variation, and are
likely teremain stringent until the arrival of the
neat India news In the discount market there
as no alteration, and a disposition to limit btoi
nen as touch as possibleahl, eeems obsert e in all
quarters
From the Daily Neu, city article, Wednesday
Business in the funds is again dull, and prices
nearly Ftatiou ry . The closing prices were about
1-16 below those of yesterday. Tho market for
English Railway shares droops daily.
In the discount market the demand continues
good, and the supply in the open market being lim
ited there ale a fair number of applications at the
bank.
I=l
A I' Garcia, F J Gasquet. S J lief, Loin: Sewn! s, I D
Vellegas, Wm Amy. 19 Arne,trong, C F Bates. E Belle
s ant, id Lafourcade, W Trivet, F Gauthier, Ete Gau
tier, Aug Markle, Henry Fling, Dr P G Robinson, I D
Hill and seri ant, W II King, J Lahena, "P Lahens, Count
de Dion, CI II Costar, II Costar, E Chaisaignae, A Arch
bold, Madame Albert and daughter, George Dobbins, A
Dobbins, 0 Boudousguie and lady, E Locguet and lady,
(leo Pochel, Robert Queenel, Mlle Irene de Valmont,
Mdm B Dleden, Mlle Paola Paquette, Isaac Iselin,
Theodore Vetterlin, Jules Posth, .1 II Bustamanta, 0
Schedel and lady, J Chartrand, (tau and grandson,
M Felarenbeck, II Landrum, E Gignel, I' Math., I"
Latrobe, A 0 Delvalle, Madame de (Gigue , A Totehl &
la, 13 Andrea, Mille Emily Scion & 3 sisters, F Brenner,
Capt Brazier, Madame Robinson, De Rainey, E D Stan
ton & lit, Dr George II Tucker, 9 Drucker, lady, 2 child
ren, and servant; Mlle Van Blmick, Madame Pickering,
Mary Picketing, E Gmnabois, J Froyd,
Binder, Mlle Sophie Seam, Madame Blatton & son,
Allle Bootlibury, I Albach and lady, A Rene, T II Vet-
Grlein, Mlles Bertha and Emma Vetterletu; Mile St
Smallwood, Dr A Penniston, Cl Lopez; F (1 Derriere, ll'
IV Leland, Mlle E Lefebore, S C Barney ; bearer of des
patches from Paris; Mlles A Hudson and E Gilbert; Mad
K Tiorell, Mad Itossitt and child, Mlle A La Tonga, II
Clark, lady and to o children; Mesdames Vourille, Lafort ,
and Sias; W Hustelle an lady, I Amat, I Basset, D
Hubert, S Lee, C E Elillebrandt. D Yorrison, Mad Mail
lard, Mad Griffith, H Miller, lady and child; Mad King
and child, J Schlegel, C Duclos, II A Dennison, E Boot,
31 [afoot. F Claroner, V Cled, Mrs Rey Dosses and Cha.
pine, 111 Sies, S Corebtilli, A Dach, lady and three
children; Mlle E Ludlam, Mdm Trempe, 3 chilli and sot;
Loeb and son, A Nester, (I Carter, T Sigg, A Sigg,
Mlles E and C Sigg, II Haines, E Balser, A gua
rd, F Held, lady and 4 children, F IV Stuckert, C S
Boyne, F Stueken, M Brode, V and 3larinoni, J Har
ter, II Quentin, E D Lalando, Wm Day, Wm ER elland,
Finch, Mdm Brooke and daughter, Mr Bloy, Mr Church,
Sir Blouson, Mr Collier, Mr Mellott, Mr Frances—
Total, 200.
Tho Court of Appeal has recently made
some important decisions in railroad cases, which
wo will state in brief ;
Dead-heads, it seems, can sue for injuries result
ing from accidents. The Court holds, that in all
cases uhure a railroad company voluntarily under
takes to convey a passenger upon their road, if
such a passenger is injured by the culpable negli
gence or want of skill of the agenta of the com•
pang, the Court hold the latter is liable. Nelion
cc. Western Railroad.
The bodily pain and suffering of the victim of a
railroad acetdont, ns well as his medical expenses
and direct pecuniary loss, are proper subjects for
computation. Ransom vs. Erie Railroad
A earring° mooting a city car is not bound to
turn to tin right, the statute requiring carriages,
when meeting in the highway, to turn to the right,
having no application to the meeting of railroad
ears with common vehicles in the streets of a city.
Hagan vs. Eighth Avenue Railroad.
A %onduotor can (tied a passenger for refusing
to show his passage ticket, even it the conductor
knows that the party has paid his faro. Hilliard
vs. Erie Rhilroad.
iron settees ate being made to replace the
pews in Hoary Ward Beecher's church at Brook•
lyp. Iron seats ate also to be placed in the new
chaiel at Williams College.
The bills of threo physicians who analyzed
tho blood, examined the blood stains, &0., in the
Burdel murder easo, in New York, amounted to
$1,0511.
The stranger Fire Companies in the city
paid a visit during yesterday to Independcueo
Hall, and to our various public iustitutions. An
araplo opportunity tvns afforded them for a full in
epeotion of the "
THE CITY
American dottiteallon—Nomination of a Re
ac o rlyulitlate far Prothonotary—No
vel Promerlin.7.—Tho delegates composing the
AtilleriCab County Convention met yesterday aft,-
noon. mini int to adjournment, for the purpose of
" arranging" the ticket to be supported by the
Americans end Rcpublicantat the municipal elec
tion nn Tuesday next -The Meeting. was held in
the court room of the (loaner Seisions. where oil
criminal business is transacted. The members
wore not prompt in their attendance, and it
was nearly an hour after the appointed time
bolero an organisation was effected Some of the
delegates occupied scoots in front of theprisoner's
dock, and wo are inclined to think that the stran
gers who looke 1 into the court room, thieuedi the
windows, must hero entertained a mistaken no
tion about the character of the aiiemladriiie: Some
had scats in the jury box. while the seeretaries end
reporters took possession of the desk of the Die
triet Attorney. Tho chairs usually occupied by
the members of the bar rented the body of the
Convention, and the whole appearance of the room
was very suggestive of the trial of a criminal
cause, and the daily routine of business in the,
Court of Quarter Sessions.
. .
Shortly before four o'clock the Convention was
called to order. The Vice President, John C. Mar
tin, Esq., occupied the chair in the absence of John
H. Bringhurst, Esq. A delegate stated that he
thought there were "spies" in the Convention,
and he hoped that when the roll was called, each
member would rise in his place end answer to his
name. This suggestion was received with some
disapprobation, but finally concurred in. The
Secretary read the list of delegates, and fifty-two
gentlemen answered to their names.
A communication was received from the American
Association of the Third Ward, instructing their
delegates to vote for no one who is not a "straight
out American," and, in no Cale, for Edwin T.
Chase. The association state that they will sup
port no ticket formed by any unauthorized parties,
or by a meeting of candidates.
The following letter was received from Jacob 11.
Mil, candidate for Prothonotary of the District
Court.
To the President of the American Convention
Having been nominated by the Convention
over which you preside, for the office of the Pro
thonotary of the District Court, I respectfully de
cline said nomination in favor of Edwin T. Chase,
whose name I suggest should bo placed upon the
ticket in place of my own.
I have determined upon this course, after ma
ture deliberation, and have come to the conclusion
that it is the best one adapted to insure the defeat
of the Democratic party at the ensuing election,
and the triumph of American principles If you
should differ from me in opinion alto my proposi
tion, I, of course, remain the candidate of the
American party Very respectfully,
October 6, 1857. JACOB 11. HILL.
A delegate, in a very excited manner, moved
that the communication be thrown under the
table.
Mr. E. Smith offered the following resolution:
Roo!yell, That this Convention having in good
faith nominated Jacob 11. Hill for the office of
Prothonotary at his own solicitation, does not re
cognise his right to decline the saute conditionally,
and dictate who shall be seleoted in his stead, and
thus malts itself and the American organization a
party to any private arrangements which may hare
been entered into by him ; but that it regards. and
hereby accepts his declination, as if no condition
as to who shad be nominated in his stead had been
made by him, and that so regarding it, this Con
vention will now proceed to nominate a candidate,
viva you, to fill the vacanoy occasioned by the de
clination of Mr. Hill.
This resolution was adopted, and a motion made
and carried to make general nominations for a
candidate for Prothonotary.
Thu following gentlemen were. nominated : Ed
win T. Chase, Samuel Lloyd, James A. Sloan. Da
vid A. Allison, E. K. Tryon, and William Nichauts.
A delegate nominated David Wilmot.
Geo. W. Reed moved that in the event of the
nomination of Mr. Chase, the Executive Committee
be instructed to satisfy themselves of his "straight
out" Americanism before they print his tickets.
This motion was carried by a vote of 311 to 15.
On motion, the Convention proceeded to ballot
for a candidate for Prothonotary, with the follow
ing result:
S Lloyd D. Allison 1
E T. Chase 31 E. Tryon 3
E. T. Chase having received a majority of all
the votes east, was declared duly nominated. A
motion to make the nomination unanimous was not
agreed to,
there being as many noes as nays
Mr. E Smith offered the following resolutions:
Resolved, That the American party of the city
of Philadelphia now, as ever, firmly adheres to its
distinctive principles and organization, and that
the delegates hero assembled in Convention, and
duly authorized to speak in its name, assure their
Amerioan friends throughout the Commonwealth,
that come what may, victory or defeat, the Ameri
cans of Philadelphia will unitedly stand by their
candidates, their principles, and their organiza
tion, and present an undivided and unbroken front
on Tuesday next, in support of Ilazlehurst, Linder
man. Broom, and Brady.
Resolved, That in our fellow-citizen and towns
man, Inane Ilrizlehurst, Esq., we have a candidate
for (lover srwho challenges the respect and con
fidence of the national and conservative men of all
parties, and whose whole public and private career
affords a better and safer guarantee of the sound
ness of his American principles, and the fidelity of
his devotion to the protection of American labor
and the security of American rights, than any
eleventh-hour letter from a man in hot pursuit of
office, avowing principles and sentiments in conflict
with his whole public life, can give. Pennsylvania
once was cheated by a Kane letter, but the game
cannot ba played over by a Browse letter.
The resolutions were adopted, and the conven
tion adjourned.
As the members wore leaving the room, ono of
the American delegates proposed " three cheers
for David Wilmot."
Fire in Bank Street Last Night.—Last
about ten o'clock, smoke was seen issuing from the
second•story windows of the buildings No. 3 and 5
Bank street, between Market and Chestnut streets,
in the Second district, oenupied by Phillips, Stryker,
dc Jennings, dry-goods jobbers, The alarm of fire
was promptly communicated from box No. 41, at
the corner of Third and Market streets, to the cen
tral station, and thence to all the boxes in the city.
The firemen repaired with groat promptitude to the
fire, and thus prevented a destructive conflagration.
Any delay on their part would have resulted most
dist.trously.
Tho fire broke out in the second story, and spread
rapidly to other portions of the double building.
Well-directed streams of water were played by the
Hibernia and Vigilant engine companies, who
were stationed directly in front of the fire in Bank
street The fire burned for nearly an hour. The
building is owned by the Fassit Brothers, Market
street, above Fifth. The firm who occupy the
building are fully insured. In the early part of
the Season they had on hand over $70,000 worth of
dry -.nods, but at present their stock is valued at
5 40,0J0. They are insured for $lO,OOO in the
Liverpool Insurance Company, $5,000 in the Dela
ware, $5,000 in the Mutual, $5,000 bathe Alliance,
$5,000 in tho Philadelphia, and for thirty or forty
thousand dollars in the other insurance offices of
our city. The loss, however, will probably not ex
ceed $20.000 There is a private watchman em
ployed in the building. The firo was certainly the
work of en incendiary. The loss of Messrs. Fasset
is cos mod by insurance. A large quantity of the
Foods were con .'eyed to adjoining stores. The
rind firemen were out in large numbers.
Real Estate, Stocks, 4-c.----The following
sales were made last evening, by M Thomas dr
Sons, at the Philadelphia Exchange:
500 shares preferred six per cent. stock of the
Union Canal Co., of Pennsylvania, $2.50.
10 shares Commonwealth Bank, par sso—s2s
paid, $l5
1 share Mercantile Library Co , SS.
Season Ticket Arch Street Theatre. $lO.
4 Frame Dwellings S.E. corner of Front k Pine
nix streets, $3,90(1
Hand-Attie Modern Residence, with side yard.
Washington street, east of 17th st . $5,900.
New Three-story Brick Dwelling, No. 129
Frank ford road, $2,150.
Thies-story Brick Store and Duelling, S.E. cor
ner of 17th and Washington streets. $2,950.
Three-story Brick Dwelling. No. 543 (late 239)
North Twelfth sheet, $2,425.
Three-story Brick Dwelling. Camilla st., $650.
Church Improveme nt.—The Third Reformed
Dutch Church, corner of Tenth and Filbert streets,
Bei W. J. B. Taylor, Pastor, has been thoroughly
renovated at a large expense during the past sum
mer, and the repairs being now entirely completed,
the congregation has resumed its full measure of
regular services. The interior has been repainted,
new gas pipes have been introduced, the pews have
been relined, and every arrangement has been
made to promote the comfort of worshippers. The
building is now ono of the most chaste and
beautiful specimens of Doric architecture in our
city.
The Sabbath schools belonging to this church
will be re-opened on the coming Sabbath, and the
regular Sabbath services will be held on the morn
ing and afternoon of each Sabbath, excepting on
the third Sabbath of the month, when the second
service is observed in the evening.—Evtaing
Anneal.
Fatal Railroad Accident.—Yesterday morn
ing, about nine o'clock, two men, named Patrick
Cusick and Patrick Coyle, were riding on a dump
car on the West Chester Railroad, near the Wood
land Cemetery, when the ` dump" gave way, let
ting the men down upon the track. Both were
run over and Cusick was instantly killed Coyle
hail ono of his legs so badly injured that he will
probably have to suffer amputation of the limb
Cusick loft a family,, who live in Market street,
near Twentieth
Rev. Geo. Hughes, of Trenton, N. J., has
recently been appointed Cori esponding Secretary
of the Pennsylvania Seamen's Friend Society.
Re has removed his residence to this city, and will
enter at once upon the duties of his office. The
of of the Society is in the Pennsylvania Bible
Howe, N. W. corner of Seventh and Walnut.
_ . . . . .
Rubberics.—The dwellings No. 309 South
Twelfth street, and No. HO South Thirteenth
street, wore robbed of considerable quantities of
silver plate. In both cases the robberies ware com
mitted by thieves who entered the houses from the
roar, while the families were front looking at the
procession of the firemen on Monday.
The steamship Palmetto, from Boston, ar
rived here, at three o'clock yesterday morning,
fortyfive hours from wharf to wharf, the shortest
passage ever made between the two ports.
PHILADELPHIA MARKETS.
00T011Ea, 1111,, EVClllllg.—Quercttron Bark Is inquired
for, and a few small lots of first quality have been taken
on arrival at $354' ton. Breadstuffs are a little more
active to-day, and the sales of flour comprise 1,000 bbla.
good Western extra at $0 25 qjr bbl ; common do , at
$575e50 ; 330 bbls extra family at $0 25058 60 Afr bbl.,
as to brand and quality Shipping flour is held at $5 50,
but there is no demand for export at that tlgure, and the
local trade 'are tho only buyers, at from the above
prices up to Vztsl.so 4' bbl., according to quality.
Corn meat and rye flour are without demand, sad the
prices of both are nominally unchanged Wheats meet
with a limited inquiry for milling, at former quotations,
and only about 4,000 bushels, mostly mixed Southern,
have been sold at 121 c. A sale of fine white was made
at 123 c., quotations range at 120*125c. for reds, and
1300135 c. for whites. Corn is in moderate request, and
about 3,500 bushels yellow have been sold at 74075 c. for
prime Southern afloat. Oats are wanted. but there are
but few offering, and good Delaware would readily com
mand 42c. Rye !meets with slow sale, at 73276 c. air
bushel, the latter for prime Pennsylveama Cotton is
without much doing, the transactions being limited to a
few small lots tale's at from Itti to 111,tic., on time
Groceries and Provisions continue dull, and the trans
actions In both are only of a meagre character, to sup
ply the wants of the trade, without change in quota
tions. Seeds are quiet, and the price of tloverseed is
down to about $5 30 tr bushel, which it all the dealers
are paying
Whiskey is dull, at =ono. for table , and
the seine prices for hltds some *ales of the former are
reported at teas.
-411 K -COURT&>_ ...~_.
YESTERDAY'S PROCEEDINGS
(Reported for The Press.l
DISTRICT Coeur, No 2—Judge Shanerrood—Arry-
Trials —Albert Lawrence us. ti Ahern & Peterson.
Peigued i,sae to try the ownership of a horse'. Jury
dot S. P. hall, Esq., for plaintiff; &Errant, E.g. for
defendant '
David Williams & Son vs. Geo. R. Kessler, owner,
,fec 5r fn on mechanics' lien. Verdict for plaintiff,
$B3O 60. 0. W Davis, Esq., (or Plaintiff, Wm_ W. Ju
venal for dcfendan;
Win U. Lore to use of John Wm Stokes Ts. Thomas
J. Hough An action on three promitiory cotes.
toff nonsuitNi. We, 9 Price. Esq , for plaintiff; Wm.
Ernst, , for defendant .
Morris es }ashy, Garnishee of Francis Peaces{ l. An
attachment of money of Pearsall in the hands of the
Garordiea. On trisl:P P Morris, Esq., for plaintl ff;
Win S Price Esq. (or tiaroishce
Oonnos Nola—fudge Allisan.—Edward Eastbtrue
rs Joaspla lianett. An action for work and labor. De
fence that the contract eras mule with one Moore, and
that the defendant never promised. Verdict for the
plaintiff $117,38. T. J. Clayton, Esq , for plaintiff,
Edward Paxson, Esq . for defendant.
George Veal es WALam Rnshwerib. Action for rent.
Defence that there had been a ourrenderof the premises,
and acceptance thereof by plaintiff. Verdict far plain
tiff $63,32 T. l. Clayton, Log , for plaintiff ;J. Work
load, Esq., for defendant.
Quantal , : SESSIONS —Judge Thompaort.—Wm. Boyle
was acquitted of Aila narault awl battery on John Gelb
ger Wm. Id Bull, Esq., for the Commonwealth; Judge
Benny for the defendant'. ; . i i•
John Henry pleaded Only to selling liquor without' a .
licen.e. Sentenced to pay a fine a 64.2 454 :
John Wi.sener,'No. 27 North Ninth' street, pleaded
guilty to 'Jelling liquor without a license. Sentenced to
pay a hoe of EIS and costs.
Judge Thompann stated, for the benefit of counsel,
that all caeca not tried during the last term will be
taken up without any continuance.
•
Syria! Report of the Committee of Council,
on changinz nomad of Streets.
The special committee on the nomenclature of
the streets ask leave to make the following prepa
ratory report, in order that the property-holders on
the streets the names of which are to be changed'
may have au opportunity, if they desire, tofarnish
any one of the committee with new names '
subject
to their approval. The committee would g 1 ell y
receive any information front any of car means
on the subject. The committee have used McEl
roy's Directory for 1857, and designated in the list
of streets, he., those names that are to be retained.
amongst those having similar names.
Commencing with the Adams street, the 4th in the
list is to retain the name; Amber the Ist; Ann the 4th;
the Ist Apple: 2d Ashland; 3d Aspen; Ist Baker; 'MBank
51 Barker; Ist Beach; Ist Beck; 2d Bedford; let Bootee;
let Brown; Ist Budd,• lit Burns; lst Canal; Ist Carbon;
3d Carpenter; let Carter; 2d Career; Ist Ceatre; 2d
Charles; 24 Charlotte; 3d Chathatu;_ Ist Cherry; att _
Church; 2d Clark; atmayr 21 Clinton; 21 Clymer; 5:11 -
Crows; Ist Cypress; 2d Cumberland; let Dean; Ist Deca
tur; 2,1 Diamond; Ist Division; 2d Duke; Ist =eel 51
Ehn; 51 Emerald; 24 Evans; Ist Fisher; let Franfts; 51
Franklin; 24 Fulton; let Garden; DI George; lit Gold;
Ist Granite; 24 Grape; 2.1 Gray; 54 Green; let Grubb; lit
Gulielma; 2,1 Haines; Ist Hamilton, 3d Harrison; Si Ha
verford, let Hazel; let Holly; Ist Hope; let Howard; fib
Jackson; 3d James; 3d Jefferson; 2d Blur, 3d Lan
caster; let Larch; 2.4 Laurel; 2d Lawrence; Mt Lemon;
3d Lewis ; let Linden; let Logan; 2d Madison; Ist Maple;
lot Marble- lat Margaret, 2d Marion; let Margaretta;
let Marshall; 2d Mary; 4th Mechanic; 2d MeluN
Ist Meredith, 2d Mercer; 241 Mervine; 3d Mifflin, let
Miller; Ist Minor; 4th Moore; 4th Montgomery; 7th
Morris; let Murray; Ist Myrtle; lst North; let Oak; 51
Olive; lst Orange, Ist Orchard; lst Orleans; 2d Owen;
let Oxford; let Palm; 4th Park, lst Parker; let Pascal;
2,1 Peach; Ist Pearl; 2d Penn; 3d Perry; 54 'Pine; Di
Pleasant; 51 Plum; 2d Poplar; Ist Powell; 3d Pratt; Ist
Preston; 21 Prospect; Price street s Germantown; 2d
Queen; Ist Randolph; Ili Richard; DI Ringgold; let Rit
tenhouse; lot River; let Robertson; 24 Rose; Ist Bye; ,S.l
School; lot Sergeant; lit State, let Sixth; Ist turoniet-,,
2,1 Sycamorev 2.11 Taylery 2d Temple; Ist third; 2B
Tholl3pBo/1: 2d Tyler; 2d Union; 2d Tensuogio;lsd Veryc
non; 5.1 Vellum; lot Wager; 24 Warren; 4th Washing
ton: 2,1 Water; Ist Watson; Ist Wayne; let Wesley; sth
West; 2.1 Westmoreland; 6th William; lit Wilson; Ist
Winter; 2d Wilder; Ist Wood; 4th Wyomint 34,York.
The committee have also asked information of
the "Department of Surveys," relative to the
streets having the same name, • and- also , thois
having two names. in each of the surveyor's dis
tricts. Any information from any quarter must be
furnished before the 15th of October. The com
mittee will then be prepared to report an ordi
mince to Councils effecting the purpose of their
appointment.
The avenues, alleys. courts, and place*, such as
are not private properly, should, in *he, judgment
of the committee, be subject to the dame reforma
tion as the streets; but as the iesolution which
passed Councils did not include them, the commit
tee have not felt authorized to embrace' them in
their inquiries.
DECISIONS BY THE SECRETARY OF THE
TREASURY.
TREASURY DEPARTMENT, Sept. 25, 1837.
The following decisions of this Department on
questions as to the proper classification, under the
tariff act of March 5, 1857, of certain articles of
foreign manufacture entered at the port of Boston,
the importers having, under the provisions of the
fifth section of that act, appealed from the de
cisions of the collector of the customs as to such
classification, are published for the information of
officers of the customs and others concerned.
HOWELL Coon, Secretary of the Treaziary.
TWILLED YABRICS-PELNTED MEELEOS 01 , WORSTED
AND COTTON, AND ATAELINES OF WORSTED
TREASURY DEPARTMENT, Sep. 21; 1&57'.
SIR Messrs. Lane, Lamson Co ,of Boston,
,have appealed from the decision of the collector of
that port, levying duties on certain articles denom
inated "printed merinos" and " amelines," en.
Mred by them at that port on the 29th and 31st
of July last, the former being composed of worsted
and cotton, and the latter of worsted, and both
twilled fabrics.
The collector levied duties upon the articles in
question at the rate of 24 per cent. under schedule
0 of the tariff of 1047, because he regards them as
• 'de Int nes," which are specially designated is that
schedule; or if not commercially known as "de
blues," because, being tinentunaratecl in any sched
ule of the tariff of 1851. they are subjeefb the duty
imposed on " delaiues " from their resemblance to
these articles, by force of the provision of the 20th
section of the tariff wit of 1842, "that there shall be
levied, collected andpaid, on each and every non
enumerated article which bears a similitude, either
in material, quality, texture, or the use to which it
mayibe applied, to any enamerated article chargea
ble with duty, the same rate of duty which islesled
and charged on the enumerated article which it
most resembles in any of the particulars before
mentioned."
The appellants contend that the articles in ques- -
tion should be dutiable at the rate of 19 per cent.
under the classification in schedule D of the tariff
act of 1857, of " manufactures of worsted, or of
which worsted shall be a component material, not
otherwise provided for."
The Department is not satisfied that the articles
referred to. though composed of the same materials
as "do laines," were known in commerce, at the
passage of the tariff act, under that disaignation.
They are twilled fabrics, and the term " de laines,"
it is believed, has been generally, if not exclusively,
confined, in the language of commerce, to plain
manufactures, as contra,listinguilbed from twilled
Nor can they be regarded as non-enumerated
articles, cad made dutiable es "de !eines " by
assimilation under the twentieth section of the
tariff act of 1942. They are enumerated, within
the meaning of the law, under the generic desig
nation of "manufacture of worsted, or of which
worsted dual be a component material, not other
wise provided for," in schedule D.
The decision of the collector is, therefore, over
ruled, and the articles in question are entitled to
entry at a duty of 19 per cent., under the classifi
cation, in schedule D, of "manufactures of
worsted, or of which worsted shall be a component
material, not otherwise provided for."
Very respectfully, your obedient servant,
Ilowutt„ Coca, Secretary of the Treasury.
A. W. AUSTIN, Esq., Collector, Boston.
TWILLED FABRICS-PRINTED AND DYED MERINOS
OP WORSTED COTTON•
TREASURY DEPARTMENT, Sept 21,1551.
Sin : This Department has had under considera
tion an appeal by Mr. Cl. D. Parrish, of Phitadel -
phia, from the decision of the collector of the cus
toms at Boston, as to the rate of duty to be assessed
on an importation of certain articles of toeroban,
lino denominated by the importer '• printed and
dyed merinos.''
The article in question is a twilled fabric, com
posed of worsted and cotton, and was classed by
the collector as a " de laine," and a duty of 24 per
per cent. was assessed upon it under schedule Cof
the tariff act of 1857, in which "de lames" are
specially named.
The appellants contend that the article should be
classed under the designation in schedule D of the
tariff act of 1957, of •'reanufactured or worsted,
or of which worsted shall be a component material,
not otherwise provided for," and be subjected to
a duty of 19 per cent.
The articles in question, though of the same com
ponent materials as some of the fabrics known in
commerce as " de laines," are not of the same tex
ture, being a twilled and not a plain manufacture,
sad for the reasons stated in the decision under
this date on the appeal of Messrs. Lane, Lamson it
Co , of Boston, from the collector of Boston, on the
rate of duty to be charged . on "printed mutual
and =clines," the labile in question must be
classed in schedule D of the tariff act of 1857, as a
" manufacture of worsted, or of which worsted shall
be a component material, not otherwise provided
for," and he subject to duty at the rate of 19 per
cent
The decision of the collector In this case is over
ruled. I am, very respectfully,
HOWELL COBB, Sec'y of the Treasury.
A. W. AUSTIN, Esq., Collector of the Customs,
Boston, Mass.
TWILLED PARRICA OP COTTON END WORSTED,-
PRINTED CuBUROS ; °MBAR STRIPED COBTRGS ;
RAINBOW STRIPED PRINTED WORSTED AND COT-
TUN TWILLS.
TREASURY DEPARTMENT, Sept. 21,1857.
Sin : This Department has bad under considera.
lion the appeal of Messrs. James M. Beebe & Co.,
of Boston, from the decision of the collector at that
port as to the rate of duty to be charged on cer
tain articles invoiced " printedlcoburp,'".ombre
striped coburgs," and raibow stripe printed
worsted and cotton twills."
These articles are twilled fabrics, composed of
cotton and worsted.
The collector assessed duties upon them, at the
rate of twenty-four per cent., as "de lathes,"
under schedule C of the tariff act of 1857, in which
"de lathes" arc specially designated
The appellants claim entry of them, at a duty of
19 per cent, under the classification in schedule D
of the tariff act of 1857, of "manufactures COM
posed of worsted, or of which worsted shall be a
component material, not otherwise provided
for.'
For reasons stated in the decision of the Depart
ment under thisdate on the appeal of Messrs. Lane,
L ams . ..1; co., of Boston, as to the rate of duty
chargeable on "printed merinos" and. "amelines,"
the articles in question are not to be classed as "de
laines," het as - manufactures" "of Which worsted
is a compepent oaateriaL not otherwise provided
►bq" and as such, they are entitled to entry, at a
duty of 19 per cent. under schedule D of the tariff
act of
The decision of the collector is overruled.
Very respectfully, your obedient servant,
Hou - Ent. COBB, Secretary of Treasury
A. W. ALSTYN, Esq., Collector, Boston.
IMPORTANT TO A MAN WITH AN lusrlan Las
WHICH 'ENDS ON SUNDAY.-1H the Superior Court
of Masseebnsetts, (Suffolk musty) is a snit be
tween Jobs Hammond and the American Mutual
Life Insgrattoe Cowpony, the following points were
decided :
" Where the premium on a policy of life insu
rance is made payable quarterly in adranse, on or
before noon of the first day of each quarter, and
the policy is to be voidif the premium shall not be
so paid, and the first day of a quarter fall on Sun
day, the premium is not due and payable until the
next day at noon•
" Where a person so insured dies on the afternoon
of a Sunday, which was the first day of a quarter,
without liming paid the premium for the opening
quarter, the insurers are liable "
iss Florence Nightingale is now staying at
Malvern, (England,) and is wider hydropathia
treatment,