The press. (Philadelphia [Pa.]) 1857-1880, October 08, 1857, Image 2

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The Ninth Number of the WEEKLY PRESS, for the
week ending SATURDAY; Ootober 10th; to noW ready
at our counter.
tereatinvitory: li. - -Bileith briokinitts:
, OD °MURAL E. Benue. • By B.
J. Bion.tate—(OrWiud.) • , •
RICA. By Jsesi T. Bausa—(oogßial.) ,
ARY 22; 1840-(Estrada.?
.. , .
LANEOUS. - -. •
1838 AND 18&7. •
.. , .
anssr3. . . , . ,
ORANGE AND GREEN. - , ~• . • 41 , , '. •
THE WEEKLY PEEN le furnished to subscribers at
$2 per year, in advance, for the single copy, and to clubs
of twenty; when cent to one address, adiince.
Single copies Jar sale at the counter of Tae Eases Of.
Ace, in wrappers, ready for mailing. '
Persona. sending club!' of twenty or over will ploaeo
bear in mind that the 'piner this ordered' canna be di
rected to :each. miticriber, tinlea price pi t 1.20
poxannum'is paid, and
,paid &Wan - re.: This la in
accordance erfth . our publiahed rates, and sonionEour
frlcuds have overlooked p it. Our he avy , conaAX,no
to adhere to this rule. • , „ -
On OUR ?mar PAGE , be folind 'an editorial'
on the Wagon Roade Mils , being surveyd or
constructed by the National 'Government,- a
, Reedy , tn, No': 8'; Col , ';
respondence trom Easton aril Igarrnster,'; 911-
ginal Poetry; the Courts; General News; a
Pilgrimage to Ashland, and other ',lniscella
, ; , '; '
Our readers will 'find the fall and admirable
report'of the pyoceedings bf ;the
,I. f egjalitire
yesterday, furnished by our spacial reporters,
highly interesting: - So far, little, disposition
has been Shown to accede to any extri - ofdinai7
demand of the banks, , but the rovnrse feeling
seems to exist among the majority of qtr
legislators, in the House' and in •the Senate.
The provision in . bill, fixing
February, 1859, as the period for the,resnmp
tion of spode payments; was' amended' by
changing it to February, 18¢8., „The protifpt
rejection„ by an almost nnanirtforus vote, ,of
Mr. Kausrmen's • proposition, ,oritemplating
an issue of relief notes, shows' a gr,atifylifg
advance in financial ncienco and good prin
ciples. The passage by the House of a reao
lution requiring, frill' irifonnationin'regard i to
the OPeration's Of,,the' banks, , indicates a dis
position in' that body to hold them to a'striet
aCeountability. • • '
Tit LiGitsikiout ' r
,present extraordiitary;easembiage' of
the Legislature for the relief of the banks from
the)egal penalties te'which their, failure to re
deem ,th,elrlinbilities subjects them, haft, ex
cited deep , interest throughout the Common
wealth. It May well be questionektylibtlier it
- .•
would not have been Much beier„to,havd,leff
the whole- question to the .new' Legislature
Which*dis =about to be'leleeted by the,. peo
ple, who'can'eiliress at, the polls, on Vuegla,y
next, Weir ,iMinion : on all the issues
And , again; if batiks are to be relieied; itf.the
very hour of their delinquency, of the legal
ientilti'ds 'they_ hate incurred,, what _'security
can we have thatauy laws to be etiae:ted hereaf
ter'will prove ' , , any, protection' against their
greatest inkjuitles 7
,Cint'alikty; o,. , punishfnent
is a much greater preventive ofierirue than se
verity; and if the, Legislature • absolves ,the
banks from their existing penalties,' what Sort j
of ftilitre, check'ean we establish'that will be 1
worth anything at,,all? The' satue„plea that
theymakti now—the suiferinge of the people
Ofidthe y derafigeinent!oflMaineSS - Intlirests-4
they can always make when it suits theit• plans
',to create; such , evils. Unfortunately; me:can
not, for severs]. years , to, come, , ' establish a
Constitutional provision, such as ePtitti Id New
York, against legislative relief to non-Specie
paying banks,but that will , prove; a 'subject for
future 'consideration' and ' -And; mean
while, ' 'it; is earnestly' to be' hoped that
;the ,Logislaturti, et its present, session,will
do as little as possible in the way of prevent-,
ing entire freedom 'or letion; on tliotihole
bank question, by thif . .tiegislattittirilick',ls to
assemble in, lanattry:pb4:: - to",,that IMO we,
look ferwartlisith hope far
the inauguratib3oC I Mapy inlPatiint reforms.l
Let them overhaul the whole system, and, it
necessary, thoroughly reorganize it. .If the;
present banks are tolerited; let with the!
, Clear understanding that: the people aro tO be!
protected 'by every:guard that human !Inge),
ituitycan devise. The evils of a t , depreciated :
and irredeemable currency are 'acknowledged
.hojr all, and, felt shy ail. ~ F,earful, indeed, must
be the necessity which will , justify any Leg's-,
lature in, authorizing banking, lustitutichs to
rob the 'People, on the otie,,band; by granting
the authority, to issue such
j a currency, on the,
pret4t; of Protecting theta, i4t; the
,Other, from
a destruction, of r their business , operationa,
the want of a circulating medium. - ,
The ticket of the Dentocriitic, party, taro* bej.
'fore the citizens ef, Phllaidelphiasfor meniberi
' =of the Leglelattire, is undoubtedly one •ct tbe
meat :44'i/nex.cePtlOnable 'that
. has ever; been - presented." There Is not
candidate" imined Who,'" is not known as a
,an of strict' moral Character, and ',of ecc
4-f-Icibliehed• end' unblemished_ reputation in this
• community: They are known, too,` , os, ac
• business , men, thoroughly 'ai4 : Prati! ,
•‘'401.1,y, conversant with the wants andinte., ,
• ; 1 1, 1,ita of the city of Philadelphia. Al all times
, :ettch men only :should sbe elected to. the'res.
- Patielblo position - of legislators, but most espe
'doily, in a time of, financial revuisiO4,'fitd itp
attendant_ difficulties, like the present.,
"ditioula, tho usual buslitesS, on the new Lees'.
i iff 'devolve thennortailt duty 'at Pro!
vidim s measures, as far as may be in its power,
' many diflictilties
Arising from' the pies ent 'de langenteilts:Othisir
• "'Aitil t9:14, - *onetaty affairs:' • This, s, probably,
rovision , the'
system, and its tre-prganizatien Qn , AV safer, an.
flriPer The=dcities ofz•the nest•Logield r
~..,tnrct iji, undo }b e 31_,1.)e of the
and responsibio;cliaracter. , ',...
Politically, or with reference to their pre
' ylorts Olitical connections, the present ticket
if composed of members of the Democratic
party and "old-line Whigs." The same re-or
ganization in the city of Philadelphia is cor
dially maintained which, in' the:election of
President BUCHANAN, proved to. lie the bul
wark of the country, and has.nci; gloriously
withstood the assaults of factions and sections.
The nominees for Senator and one Represents-
Rye were ,formerly Whigs: three Representa
tives are Democrats. We speak now in re
ference to the Former political relations of the
nominees or their antecedents ; independently
of which, and much more important in consi
deration, is the fact that they are men of high
character, and stab as the cOmmunity may
confide in without the smallest scruple ormis
The ✓i'rabia, which left Liverpool on the
20th ult., and arrived at Halifax yesterday,
bas brought throe days later news frotnEurope.
The meeting of the Russian and French Empe
rors had taken place at Stuttgardt on the 26th.
It was believed that the' r Czar had consented to
meet the Emperor of Austria' at Weimar on
the let October. The coolness which has ex
isted between them, on account of Austria's
military occupation of the Principalities, at
an early stage of the Crimean war, will proba
bly be dissipated at this interview. NAPOLEON,
Who has evidently brought this to bear, may
assume the name of The Peacemaker, par
ticularly if he can also restore kindly feelings
between Russia and England. His own course,
after the interview with the Czar, would be,
via Baden, to Strasbourg, where, nearly
twenty-one years ago, he had his first unsuc
cessful attempt, as "nephew of the Emperor,"
to engage the French soldiery on his side.
, !Spain consented, some time ago, to leave
'her dispute with Mexico to the arbitration of
France and England ; and as Mexico has, at
length, agreed to do the same, that affair may
'be looked on as settled.
- The Arabia has not brought any later news
ftom India. It was expected that on the day
she sailed (September' 26th,) the substance
of the Indian overland mail would have reached
London by telegraph. The dates would be
from Calcutta to the 24th August, from Bom
bay to the 3rd of September. That mail is
expected to bring decisive news. Dr. Wilson,
Bishop of CalCutta, bad written home to his
family to say that not less than a force of
10,000 British soldiers could have any fair
prospect of taking so strong and so strongly
defended a place' as Delhi. The numerical
force before this fortress-city
,was about 6,000,
at last advices, but nearly two-thirds were hors
de combat from illness and fatigue. Sir COLIN
' CAMPBELL is not the man to run a risk. He
will scarcely attack Delhi without a very suffi
cient force, and will probably, by that , time,
have the aid of General HAVELOCK, whose
gallantry is now the subjectof universal eulogy
in England.
It is 'Significant of the manner in which In
dia has been governed, that the leading Euro
pean residents at Calcutta (not connected with
the 'East India Company)' haie sent
,a petition
to the• British Legislature, ,strongly complain
ing'of the misCondnet and weakness oftho In
dian. Government; and praying that the coun
try 'be placed under the direct rale of Queen
Victoria, with an,' open Legislative Council.
'le unpopularity of the East India Com
pany, and the incompetency of its officials, are
themes of censure 'thrill the leading,,English
journals. , ' Even the Standard, the Conserve
timor*, closes a long leader on the subject
byA3aying : It is• beyond all expression
lamentable to think that such an empire should
have' been ,committed to the care of such
inen—so superior to advice, so deaf to warn-
Ingo° self-sufficient, 'end an incapable."
,But the Times contends that, oven Omit
ting the allegations of this petition to be true,
it only tells us what we know, that there is no
Connection between its premises and its con
'elusion, and that the prayer for an open Legis
lative Council is absurd; tislndia mustbe ruled
by , the sword, net by a repreeentativo Govern
, Perhaps to, but a responsible Govern
meat, from which red tape and Ciretimlocution
shall be , excluded, is what the Calcutta peti
tionernAeniand and require: In connection
with this, we may mention that the Daily
:News and other ultra-liberal journals strongly
lurgq the dismissal of Lord CAMKNO from India,
suggesting that Lord Exam, who is now in
~shall take his place as Governor
,General- • ITO disniiss a man for incompe
tency, is to admit that his original appointment
•was Wrong, and 'as that is what the British
Ministry never avow, Lord Canting° will not be
disturbed. "
The last report of prices at Liverpool shows
a slight decline in cotton, and a continuation,
with a tendency to a further decline, of the
already: lowered rates of breadstuffs. The
price of consols is an eighth lower than on the
122 d ult.
The whole amount of specie in the United
states is estimated at sgoo,oomoo. Penn
sylvania, having one-tenth the population, and
More than one-tenth of the wealth of the
Union, has at leait $25,000,000 of this specie
—in all probability much more. In ordinary
times this specie circulates freely. In times
of Panic' and of a"depreciated currency, it
scarcely circulates' at, O. If
. ten dollars in
notes, which are still money for ordinary
transuded, aro worth fifty cents or one dol
iar less than specie, nearlynvery body reinses
to pay out their gold and silver. They will
not suffer their gOod currency to be put on an
.equality with a bad ono. This is but natural.
Consequently, not only have the banks with
drawn many or their own notes from circula
tion, but they have also withdrawn the specie
frOm circulation, by falling to redeem their
notes. In a state of
,suspensien, meanwhile,
those who have specie either hoard it up, or
send it to brokers to be sold for a premium.
Thd' thousands of dollars 'are sold every day
to brokers. in Philadelphia, and they in turn
sell ,A" to parties who require it to pay their
obligatiod at points ontside,of our own State,
which thus becomes drained of its specie.
[SPECIAL DlSPitOtt TO VIE mass.]
WASIIINOTOX, October 7.=-The telegraphic corres
pondent to the New York Herald denies that it Is the
design of the Pbatmeater General; as Stated by the
JPnesg,lo establish,tn Philadelphia, a syatern of sub-
Offic6, or statioti, approximating the celebrated London
'system: I have from - gded authority, that the Post-'
maSterflieneral dues intend to apprOsimate that system as
near, es he can de it tinder °elating !awe. I presume
there will be at least four sub-officee, and several hundred
bases for the collection of letters; that there will be per
sons to collect letters from the beset' and take them either
to the main office or to the sub-offices, as the character
thb ISerViCe rcia7,l o o l l 4 q; that city 9,2:, drop letters,
will, be received at, all the boxes, &await as at the sub
and main offices, and that these will be delivered at two
cents postage, including the carrier's fee; and that
there will be four deliveries &day—city letters to be de
livered directly to' the persons addressed, without going
into the main Mate, whenever they may be thereby ex•
pedited. , •
Under present laws carriers will receir* , two cents a
letter for delivery of all lettere received through the
mail. •Under these laws the carrier's fundumst support
the carrier system, and a less rate for delivery will net
give money enough to accomplish this object.
Philadelphia is a city covering an extensive area, and
itscitirons are entitled to this accommedation, of mail
facilities within its limits, , Which, the Postmaster
Geheral proposes to establish: The latter part of the
present month or the beginning of Noveinteir may eee
:the system to full, operation.; X. Y.
!ttElemption of United States Stooks—The Gene•
eel 'Land ,Oftlee;' , .Nlearegunn
Wasninormi, October 7.—Since the publicition of a
nOtiee Hid BeCretary of the Treasury, on the 24th of
Septeniher t t 9 the Piesent time, nearly $2,500,000 worth
of. States itoeks have been sent In for redemp
tion. - The , highest amount received in one day was
5050,000 worth. Within the last three days the amount
altogether wal not over one hundred thousand dollars.
The fallfe r g' i alf is i'tirilnited to an improved condition of
the Money market.
In reply to aujnquiry made et the General Land Office,
whether a tract of lend Allegany sold was subjected to
pre-emption, the Acting CommiOioner reified that it
was tlotpie;eroptlble ivhilst covered by an actual sale.
And thohglithe este Should be declared invalid; the
141 cannot be entered until subsequent to its restore
tiithe the
r et, after at least thirty 'days' public
Signor Prissari had au interview with the President
tO-day. 1n relation to hie reception u Minister of
' ,
the 'Department has recently sent' out Instruc
tions tlithe'eetitminders of the serest' rreaasta of the
genie Behedrrin i with regard to the Intercepting of
arrned - partice deidping to Invade Mexico, Nicaragua,
and Costa Rica.
hiring ltfadleork . Catts,' father-ln•laa of Ron. B. A,
tDouglai t teas commlasionei U. Seeopl Comptroller of
Almoilottad Mite 'Treasury: , " 1, •
4 , 1 fP , ' , t, Thli Gebrea Electtvn.. - $ 1$
Atrnfra*a,'ClA.; 00 - C, 7:—The returns thud far!recired
indicate the re-election of dames L litvaierCiOrnap
from the let Oongreasional District, His opponent vas
John P. 8, Huston, American,
Day of Humiliation and Prayer in pagland
Lord Elgin to liCiioveritor-Genarat or India,
Arrival of Yugitliii from India at Southampton
Mexico Accepts the Mediation at England and
A Piratical Village on the Island of Formosa
Destroyed by an American 'Vessel.
Cotton Declined I.Bd—Breadotuffs Declining.
CONSOLS 90n90 1.8.
Watery, Oct. 2.—The royal mail steamship Niagara,
Capt. Wickham, arrived at 0 o'clock this morning, with
Liverpool dates to Saturday, the 26th ult. Sho left Liv
erpool at one o'clock P hi. She will be due in Boston
on Thursday afternoon
The steamship North American, from Quebec, arrived
out at noon on the Melt. • '
The Paris Pays says there has been received a pri
vate letter from London, which states that Lord Elgin
will soon bedippointed Governor-General of India, and
Lord Canning be nominated to another office.
The offer of a commission in the army to any quali
fied party raising one hundred recruits, has been wttli
An express train from Manchester to London, on the
Great Northern Railway, ran off the track and over the
viaduct. Four passengers were killed, including the
Hon. Windsor Olive, and a large number wore injured,
The subject of creating an army brigade from the
middle elm of Englishmen was daily attracting more
attention, and it was supposed the pressure of public
opinion would induce the Government to take the mat
ter up.
Messrs. Harrison, Watson, to Co , ,bankers in null,
have failed. Their liabilities are supposed tore large.
A collision occurred between the police and military
on Sunday, the 20th. Some persons were injured, but
no lives were lost.
Advices from Palermo state that the telegraph be
tween Mita and Sicily will be ready by the mSddle of
October, and the British Government will then only
have to lay a cable between Alexandria end Italia to
bring Bombay within fifteen days from London.
The Globe says that the Privy Council have fixed on
Sunday, the 4th of October, as a day for national hu
miliation and prayer, on account of the Indian troubles.
The Sultan of Turkey has contributed £l,OOO to'the
Indian relief fund Considerable political importance
is attached to this act of the head of the Mohomedan
The cattle disease has made its appearance in Berry,
Latest from London
Lestum, Saturday.—There was a further Increase in
the demand for money, both In the Stock Exchange
and at the Bank, but not beyond what was to have been
anticipated, from the near approach of the end of the
quarter, and the largeness of the Government balance.
It is stated that within the last few days a large quan
tity of Malta males has been sold to be shipped to the
united Kingdom, in the course of the year, in Greek
vessels ; the price mentiened per quarter, cost and
freight, being a considerable reduction from the price
now nominally current in London.
In Paris, on Friday, the funds closed at 07f. 70c.tre7f.
Napoleon left the camp, at Chalons, on the 23d, wag
at Straebonrg on the next day. and atttuttgardt on the
25th ult.
A telegraphic despatch from Stuttgardt gives the fol
lowing programme of the imperial meeting 1 Tho Em
perors meet on Friday, the 28th. They will give a
grand banquet on that day, and an evening party at the
Princess RoyaPs country seat. On Saturday they will
pay a visit to the royal breeding stud at floheuheim,
and attend an evening party at Willhelmrchloss, the
garden to which regal palace will be illuminated.
The Minister of Foreign Affairs will have au Assem
bly en the same evening, of all the members of the di
plomatic corps. The festivitiea will terminate on Sun
day liy a grand banquet at the Court, and a gala specta
cle at the theatre. The Emperors will take their dew
tore on Monday morning.
The Paris Parris says the furthering of a common
Spirit of amity and good intelligence between the Courts
of Prance and Russia is the only object of the inter
Inundations in the South of France have beau very
disastrous. The destruction of property was Immense,
and several lives were lost.
The Emperor contributed 10,000 franca from his pri-
Tito puree for the relief of the sufferers.
The grape harvest was progreesing en the South. The
vintage was most abundant.
The trial of Oarpentier, Grelet, and others, for rob
beries on the Northern Railway of Prance, commenced
in the Paris court of Assizes,
A telegraphic despatch from Stuttgardt, on the 25th
nit., to the London Times, soya that Napoleon arrived
there on that afternoon at half-past four o'clock. The
King of Wurtemberg received him at the railway station,
and conducted hint to the palace, where they wore im
mediately joined by the Emperor of Rt.11391}, Contrary
to all expectations, the Empress of Russia was to join
the party the nextday.
The trial of those charged with the committal of
frauds on the Foreign Railroad had terminated. Perot
was acquitted. Omelet was found guilty, and sentenced
to eight years imprisonment Carpentler and Omelet were
also found guilty and sentenced to Ova years imprison•
meat. Furthermore, Carpentier, Greta, and Perot are
required to restore 4,332 Shares and Guerin 1,400
Thei funeral of AL Monte was attended by 1500 per
sons, of whom many were refugees. No funeral oration
was permitted. Police precautions were taken, but no
trouble occurred.
Mexico has accepted the mediation of England and
France in her quarrel with Spain. The conference will
be held in London.
Notwithstanding Madrid journals say the Ministerial
crisis is over, it was rumored that General Figcu rim was
to resign the ministry of war, and be succeeded by
Beyond', and that several high functionaries at the
palnee were to he dismissed.
A royal decree convokes the Cortes for the 30th of
Lisbon dates are to the 19th ult. Great excitement
existed in regard to the supposed outbreak of yellow
fever ; but it to smarted that tt was only light
A Vienna despatch says that the Emperors of Austria
tad Russia will hare au interview at Weimer ou the let
of October. .
A Berlin despatch says that the separate negotiations
between Russia and Denmark had been broken off,
and that Russia and Austria had determined for the pre
sent not to carry the affairs of the Duchies before the
Diet,but to await the representatious of holstein
The rumors of a French note in favor of Denmark aro
A Stockholm despatch of the 24th, says that the fpur
estates which form the Swedish Parliament have ac
cepted the King's proposal that the Crown Prince
should be Regent during his Ilineis. ,The proposition
met with opposition only from the citizens and peasants.
A fire at St. Petersburg is reported to have consumed
one hundred and seventy vessels and lighters
It is Mated that the Russian Government is construct
ing a large fortress at Kertch to command the Straits of
A Berlin letter lays that the ,Crar, before leaving St
Petersburg, approved of the dra ft of a project for the
partial abolition of serfdom, and, on his return, the
iproject become a law * and a proclamation betrayed,
nviting their owners to arrange for the liberation of
the 'serfs
Mature from St. Petereburg report that the reduction
to a puce footing of the three divisions of cavalry o
he Imperial Guard had been accomplished
Oaeu Paella is nominated Governor General of Bagdad,
a very lucrative post. tie is charged with the duty al
establishing aline of steamers upon the VOA and the
lower Euphrates, and with the protection of commerce
against the Arabs.
Three Russian corvettes were in the Dardanelles
waiting fora Armen to enter the Black sea. These ves
sels, it Is understood, aro intended for guard for the
ships in ports designated by the treaty of Paris.
It is stated that the Porte, under the pressure of
events, has come to the resolution of taking the kaki
tiro on the question of the Principalities, and Is about
to propose an administrative union, extending over the
Nothing iater has been receirxl from India, but the
Gorernme.ut despatches are momentarily expected.
The Indian mail steamer Colombo has arrived at
Southampton, with nuinerous fogitives from mutinous
districts in India.
They give syrightful account of the state of affairs'
at Calcutta and the upper provinces of India.
The Rut India Company announce that they have
taken measures to render prompt assistance to all suf
ferers in India. ,
, Fire hundred French troops had arrived at Calcutta,'
from China, to defend the French Interests at Chtunier
A doubt bad been thrown upon the reported mutiny
among the Bombay troops in Dharwar.
A battalion of French marines would probably be sent
to reinforce the garrison at Peudicbcory.
A letter from Hong Kong,,r eceived at Paris, says that
the United States corvette Levant, In order to avenge
the pillage by a gang of pirates, of an American mer
chant ship, had burned down a village on the Inland of
Formosa, which the pirates captured.
Meetlog of the New Yorlc Merehants—Rellei
NEW YORE, Oct. 7.--A Meeting Of merchants was
held to-day to devise measures of,rellef for the present
pressure in the mope" market. A resolution was adopted
recommending the banks to make an linmedlate Increase
in their discounts to the amount of several millions, and
*ha a further Increase of ten millions be made soon. A
committee wets-appointed to confer with the bunks.
The New York Custom House
liger YORK, Oct. 7.—A quakerly statement issuing
from the custom hewn) of this port contains the ful•
lowing :
The gash duties received Suring the quarter ending
September tOth amounted to " 112,182,000
Tho valae of the Imports for the same time.... 71, 250.000
" export of merchandise 4 . •• • .15800 0 000
4 . 4 . . 4 exports or specie 4 . ....10,890,000
BOSTON, Oct. T.—The Sagadrek Hotel, at Methuen,
Masa., with stables, out,buildings, and the "Waldo
Illock, 3 ! , a building occupied for offices and stores, and
a feu' dwelling houses, were destroyed by lire loot night
, Later from Havana—Decline in Sugars—
, Henry Loss,to Owners, &c.
NEW °ALBANS, October Ti—,The United States mall
steamship Black Warrior, from Havana on the 4th inst.,
has arrived bore.
' Sugars had declined, and holders would lose heavily,
The American vessel, Itfazeppa, which had been cap
tured as b slaver, had been brought into the port of
Exchange 'on New York ties 'quoted et par.'
The Kansas Election
ST. Lode, Oct 7,—There 1e Much anxiety hero to
leiwn something of the result of the election in Kansas,
but the despatch, impeded this , evening by the mail
beat to Boonville, t•'&o not receiveM
Sentence of a Murderer
BALTIMOagy Oct. 7.-- 1 0eorge Braden was this morn
log sentenced to fifteen years imprisonment, for killing
Wm 9 Walters, at the Notional Gardena, 112 May last
edam:idiom; Oct. 7!.—A Vitlf; of 1,000 bales of Cotton
line made this morning at a decline of 2e.c2,Ve. The
highest point for Middling fair to fair la ,jag,pl37 4 ,
The Bank of Charleston has arranged to take sterling
bills of exchange at par, and bills on If awe at $5 02%
.NEW °imam, Oct. 6.--No axles of Cotton , denleri
awaiting Same movement in exchange. The weather is
horrible and no business has been transacted: There is
but eighteen feet of water on the bar at the month of
the klisaiselppi,
The Speoial Session of the Legislature
[Exclusive Correspondence of the Press I
Ilaaaßuena, Oetobor 7,18.5 T.
• SENATk • ` -
The Senate snot at 10 o'clock A. IS , punuan
to adjournment. • "
The journal of yesterday wits read and ap
proved. '
Thu Speaker announced that he had appointed
as committee on the motion of Air. BROWNE, made
yesterday, Messrs. Browne, Kißinger, Welsh,
Flenniken, and Wright- and as committee on the
motion of Mr. JORDAN, made at the same thus,
Messrs. Jordan, Lanbach, Taggart, Cromwell,
Gamin, Walton, and Lewis.
Mr. STRAUB presented ton petitions from citizens
of Schuylkill county, praying for laws to be pasiusi
to remedy the evils consequent upon the swipe
-0100 of specie payments by the banks, which was
referred to the special committee of seven just op
pointed to consider Mr. Jounmes bill and tho mes
sage of the Governor.
Air. SCOFIELD read in place a bill entitled an act
for the better iegulation of the hanks of this Com
monwealth, and the security of ; in
fact, he said, a free banking law. As he desired to
call it up during the day, lie would morn no re ;
femme of the bill, but would move that for the
present it ho laid upon the table, which motion
was agreed to.
Mr. WicaiNs offered 11. resolution authorizing
the Clerk of the Senate to furnish each member of
the Senate with a copy of "AfeKinney's Digest of
the Banking Laws,' which was adopted.
Mr. Bowmen called up his resolution of yester
day, calling on the State Treasurer to furnish A
statement of the amount of his deposits in the'
various banks, &c., and in its stead moved the
following :
, LF,solied, That the State Treasurer be requested to
furnish the Senate with a statement of the amount now
deposited by him, in accordance with law, in the hanks
of this Commonwealth, stating the amount deposited k,
each bank, and also the amount of bank notes in the
Treasury, and the amount In each bank."
Nr. BROWNE suggested that the words "in no
cordanoe with law" be stricken opt, end the modi
fication was accepted.
The resolution was substituted for iho one of ye,
terdey, and then adopted.
On motion of Mr. Kiumnert, it was ordered
that when the Senate adjourna it bo to meet ut
three o'clock Mid afternoon.
on motion of Mr. JORDAN, tho special corn.
mittee9 hod leave to sit during the sustong of the
And then, on motion of Mr. WRIGHT, the Senate
lit:. Taggart's bill, hthodueed yeaterday, to fu
as fellows:
An Act concerning Ranks
lie it enacted by the &mato and House of Representa
til es of the Commonwealth of Pennsy I anis, in General
Assembly met, and it is hereby enacted by the authority
of the moo. That the provisions of every set of As
numbly, or of incorporation or redneorporation, hereto.
forepassed, declaring or authorizing the forfeiture of
the charter of any bank or corporation, or inflicting any
penalties for, or by reason of, the non-payment of any
of its liabilities, or the issuing or paying out the
notes of other banks incorporated under the laws of ON
Commonwealth, though not specie paying, or its loan
ing or discounting without the requisite amount of
specie or specie funds, be, and the same are hereby, ens-
Falded until the Ist day of rebruary, A. G. 1859: and
all forfeitures and penalties heretofore incurred under
such acts of Assembly, or of incorporation or re
incorporation, for or by reason of the causes
aforesaid, or any of them, arc hereby remitted,
and so much thereof as prohibits any bank from
making loans and discounts, issuing its own notes.
or the notes of other banks, incorporated under
the laws of this Commonwealth, though not specie pay
ing or declaring dividends during the suspension of spe
cie payments, or from loaning or discounting without the
requisite amount of specie or specie funds, bo, and the
seine is hereby, suspended until the day and year afore
said; and any such bank during such suspension of specie
payments may declare dividends to an amount not ex
ceeding Aix per cent per annum on its capital, and this
act shall extend also to all banks and corporations
chartered or rechartered under any law, for periods here
after to commence, and to the payment of stock to all
banks incorporated by the Legislature at its last session.
The Sonata to-mouthed at 3 o'cloch P. At
Mr. JORDAN, from tho special committee of seven, to
whom wero referred several propotitions concerning
bails, reported bark the bill which he, himself, had
submitted, with sundry amendments.
Mr. BROWNE, from the !week' committee of five, to
whom twee referred a bill entitled an act regulating
banks, peened 16th April, 1660, reported the same.back
with amendments.
Mr. JORDAN moved that the Senate proceed to (he
consideration of the bill which ho had reported, in or
der that it might be aeon whether they could not agree
on some practical measure of relief. The motion was
agreed to.
The Senate proceeded to confider the bill Its commit
tee of the whole, (Mr. Coffey in the chair.)
The bill was read by sections, as follows:
SICTION 2. That in addition to all statements and re
turns now required by law, each and every bank in the
cities of Philadelphia, Pittsburgh. and Allegheny shall,
on the first discount day in November next, and weekly
thereatter, and other banks In this Commonwealth, on
the some day, or monthly thereafter, make tip a state
ment to be verified by the oath or affirmation of the
president or cashier thereof, showing first, the amount
of its loans and discounts; second, the amount of specie
in the possession of, and owned by such bank, and the
balance due from other banks in distinct items; third,
the amount of its notes outstanding; fourth, the amount
of deposits, including Individual deposits and balances
due to other Lanka, which statement shall be published
in the next succeeding issue of a lieu spaper of the
county in which the bank la located, or if there be no
newspaper in such county, then in n newspaper of some
neighboring county i and any violation of this law, or
failure to comply wilts Its provisions, by any president
or cashier of any bank, shall be a misdemeanor, and
each of the said officers shall, upon conviction thereof,
tio punished by a fine of not less than five hundred dol
lars, nor more thou one thohsand dollars, at the dliere.
Con of the court, ono half to be gitcu to the prosecutor,
and one half to tho county in which such bank is lo
SPCTION 3, That the said banks aro hereby required,
during the whole period or their suspension of specie
payments, to receive at par, in payment of all debts due
or to become duo to them, respectively, during that
period, the notes of all the solvent Lanka of the
Commonwealth which paid specie for all their liabili
ties on immediately prior to the tocaty-fourth day
of :September last, and which shall continue solvent lint
in cass nay five preffidept, of any of the said banks shall
certify to the Governor, tinder oath or affirmation, their
apprehension and belief that any bank by them named
is to an unsafe condition, the Uovornor filial! thereupon
appoint three judicious persons as commissioners to in
vestigate the condition of Audi bank. And the said
commissioners shall, after taking no oath or affirmation
to perform the duties of their appointment with
fidelity, forthwith proceed to make the said Innen
ligation, and report the result thereof, within ten
days, to the Governor; and If the officers of the and
bank shall refuse to permit the said commissioners
to make such investigation, or to produce any books
or document; necessary for that purpose, or if the
said commissioners shall report that the said bank is In
sn titp.ufe condition, the Governor shall thereupon tame
his proclamation, declaring the charter of the said bank
Vibe forfeited and thenaid bank shall be deprived of all
the benefits of this act, and the directois thereof shall
forthwith make and execute no assignment in the man
uer provided by the act entitled ‘f on act regulating
banks" approved the sixteenth day of April *ono
dominl eighteen hundred and fifty, tho expenses of such
comtnission, inch ding the compensation of the commis.
hankslone t a lf g a a t i
n t , n t n w to i t r i t t:r i n t t i lr i, t i y et e i paidc 4 h4h u al l i ho be revo t b); h t t, b l e i
be favorable to its condition, in which CLIO they shall
be paid by the applicants; but any bank or hanky which
shall before the period herein before limited, resume
and continue the payment of specie on all their liabili
ties shall nut, alter such resumption, and daring Such
continuance, be subject to any of the provisions of this
• •
Provided, that no bank chat! be required to receive
the notes of any bank against which a certificate may bu I
made as aforenald, at any time alter the dallier) , of the
scum to the governor, until the Commissionces
report in favor of snob bank, after ...Lich the notes of
such bank shall again (•o received, as required by the
plot Isions of this act
licertm 4. That all delimits by the Kate Treasiirer or
to the credit of the Coniiiiono ealth in the several banks
and other corporations. and all bank notes which arc or
may be in the Treacury during the period of suspension
aforesaid, shall from 111110 to time, on demand of said
treasurer, be paid by the said leinke or other corporations
respectively, in specie , In such amounts as may be re
quired by said treasurer to enable bins to pay the inter
est accruing on the public loans of the Commonwealth.
NridTION b. That upon all judgments heretofore em
tered or which maybe entered during the period heroin
before mentioned, to actions instituted by writ in any
court in this Commonwealth, if the defendant shall be
possessed of any estate in fee simple within the teepee
the county, worth, In the opinion of the court, the
amount of said judgment, clear itt all imam
brances, he shall be entitled to a stay of exe
cution thereon for one year, to be computed from
the first day of the term to which the action lens
commenced, and every defendant In such judgment
may have the same stay of execution thereon, If
within thirty days from the passage of this act, or within
thirty days from the rendition of any future judgmint,
he shall give security, t a ke approved of by the coact,
or by M 1 jpdge thereof, for the mum recovered, togothei
with interest and costa.
it. This act shall take effect Immediately but
no bank or other corporation shall be embraced within Its'
provisions mere thin sixty days after the passage hereof,
unless the stockholders of such bank or other corporation
shot before the expiration of the said Co din Boit a meeting,
to be called by the directors thecae( for filial purpose on
ten days' public notice in one or morn nepapapers, am,
cent the provident of ibis net by a majority of votes
of said stockholders to be voted and counted according
to the provisions iu the charter of such accepting
bank or other corporation regulating the election of
directors; but to make noel, acceptance yoltd,
there shall be filed in the office of the Auditor General
of this Commonwealth a certificate that thin act he
born duty accepted under the common seal of each bank
or othef corpoi Mien, attested by the signature of Its
president or cultist
Mr. PINNEY moved that all spite, obtained or tei be
obtained, Khali be computed from the date of the pas
sage of thin bill,
The amendment was agreed to.
Mr ELENNIICCH moved it to provided, an an udditlonal
aretion, that section forty-seven of the net of April 10th,
1650, he repealed; which sins arced to,
The committee role,' and 'Air Corm reported UM
hill back to the Hausa n al, the amendment iThich bent
been anrecd to,
On 'notion of Mr. Joisoart, the sprout trading of the
bill has proCeeded with.
Mr. SOUVIAIn moved instead of Kibil the year MA he
tins time axed for the resumption of baut.a.
Mr. TAM; tor believed the object for ti Inch they had
assembled, was the relief of the commercial commu•
nity, and that, If the amendment ho adopted, tho result
stout,' be just the reverse. Instead of enabling the
bunks to discount for their customers, and thus reliel 0
the community,. they would be compelled to contract
still more than they hose. He hoped the banks would
be given aniple time to got in their loner.
Mr. JORDAN WAR fine to say, when he flat investigated
tho subject, ho wan in favor of the limitation of ISA
and the speediest resumption of specie payment, tut
from the bent information he was able to pro; urn,
nes satisfied that the day fixed In the bill was tlie
advisable under the circumstances Twenty years ago
the banks universally suspended. The Legislature then
as.noW felt called on to suspend the operations of the
Penal enactments in the banking lona. Tine banks were
called upon to resume specie payment en a certain day,
on which day 110 were unable to resume. They wore
forced to. again suspend. The Reqoud s u spemiou
verso in its effect than the first, causing a greater breach
ill the public confidence. lie acted on this experience.
tie did net desire to be placed In the position of Milo
rating the interests of the banks against those of the
commercial and mercantile community'.
This hill was in accordance with the ten petitions frpon
Schuylkill county, and the Board of Trade of Allegheny
county. The banks must have a roaonnable time granted
them. 110 thought the bill Evelt stood Was more in ac
cordance with the wishes of the people than the propos
ed amendment. This was a vital point in the bill, at it
was herein that relief could frlitinly be found, so that
they ought to Consider well before striking 0 01859, the
date recommended by the committeo—mirl 111 4 " ti qg l ine
date proposed in the amendment.
If see could not go to the root of the evil at present,
we could at least grant 101118 relief by giving this edeli•
Coma time.
Mr. SCOFIELD said his object nos
meeting of another Legislature. The last speaker had
to lAA it toast the
evidently divided hiA constituents into two pares—the
commercial eon and the banks—but. In hie mind, there
RCM Still mere important portion Which he had evi
dently omitted, and that the next
w as the l a b or i ng , class. lie
preferred giving this matter ship the hapds
Th e yeas im p, we re required by Mr. Rousso,
and were as follow, viz '
Y6AB.—HeS9II, Brewer, .Browne, Creswell, •Ely
Trawl, Fetter Flenniken, Ingram, Knox, Laubach,
Myer, Bcolield,'SellerS, s3tdele; fittatib, WitltOn, Welsh,
N.M.—Messrs. Coffey, Crabh, Frazer, Claxton',
Gregg, Harris, Jordan, Ktflinger, Lewis, Schuman,
Fouther, Taggart, 'Mine, Shinny (Speaker.)-14.
So the question wan determined in the affirmative.
Mr. BROWNE thought the term of the bill, ' , any cm ,
• oration." WOO too general—there were many corpora
tions besides banking corporations. If gentlemen meant
banking association , ' and corporations of a similar na
ture, let them say so.
Mr. JORDAN said, that if the words ,4 or any ether
corporations" be stricken out, others should be substi
tuted for them.
Mr. Ilnowss moved to Insert after the word corpora
tion the nor& " having banking privileges t'
The amendment was agreed to.
Mr. Ca on moved to amend, by providing in the bill
that the penalty IncurtatO by a bank In the non-pay
ment or its liabilities of twelve per ceut. Interest, be re
dared tit Ittx per cent.
JOIiDANI Mated that the amendment proposed
wan In effect already in the bill, and the amendment
wan withdrawn.
Mr. TAMI 40T moved to strike out the words first
Monday of Februark, '1868," and insert In their Mead,.
6 , first Monday of April,lBsB.l ,
Mr Lewis hoped the amendinett 'weld tot ho agreed
to—April was the worst time upon which to fix. Ito
suggested May.
Mr. TRIIIART accepted the 111 0dilintion, von Made his
ammilment read nest Monday In ➢fay, 1.4 m
The yaws and nays wero regaired by Mexer4 WRIOIIT
and Joanna, and a are as follows, via:
- • •
Yells---lessrm Brewer, Coffey, Crabb, Frkzer, Gregg
11 - orris, Jordon,Ginger, Lewis, SeGerA, Shuman
Soutliet , Taggart, NV illtlue-14
Browne, Creswell, Ely, Evans, Fetter,
Flenniken, Ingram, Rimx., Myer, Sco
field, Steele, Straub, Walton, Welsh, Wright, Finney,
(Speaker )—]B.
So the question was determined in the negative.
Mr. TAnoAnT reneued his drat amendment on the
words ' , first, Monday of April," which was disagreed to,
there being sixteen ayes and sixteen na)es, and Speaker
PINS EY voting In the negative.
Mr. Gazzan moved to Insert the won's "third Monday
in March," and Mr. Merry the words fourth Monday
of March. Both amendments were disagreed to.
Mr BROWNE Inn Ted to insert after the word tanks in
the first section, "saving, trust and insurance compa
nies," so that it would read "forfeiture of the charter
of any banks, saving, trust and insurance companies,
,kc reference to the pamphlet laws of 1851 it
would he aces that those institutions wore liable to hie
penalties of the thirtieth section of the act of 1850.
The amendment was agreed to
Mr. Ilitowaa moved other amendments of a verbal
character to make all the provisions of the bill cor•
respond with amendments already adopted.
?dr...WRIGHT offered an amendment striking out that
portion of the bill w which authorized new banks to start
on the basis specilled. Ile thought it would be an act
of folly to give the banks any additional rights of such
a doubtful character.
Mr. CRAIIII mid that if Mr. WRIOUT'a views elinuld
prevail, lie would strike out of existence all the banks
which had been inoorpornted by the last Lemlotus°,
and lie could not gofer undoing in a moment what there
bad Leon no much time spent in doing last session
Mr. Wntonr said that when we learned that we had
taken a wrong stop it wee noble to retrace It. Those
who had onotained the banking system acknowledged
that they had gout; astray, and be now hoped they
would have the manliness to lend a helping hand to
rectify the wising by striking out the portion of the bill
apemfled in his amendment.
Mr. Wit-niNs did not know that lie would have taken
the floor at all if he had not been directly appealed to
Mr. Wright was, in his opinion, too perpendicular in
its banking notions. It was not his doctrine to sweep
train the Commonwealth the entire banking system.
The evil existed, And all that could be done, was to re
medy it. It was mixed up with all our business transac
tions, and nowhere in the world was a banking system so
apparently necessary as in the United States. If It
were passible to extricate oursels en from this necessity,
he would be glad to do it this own city gave an exam
ple of the connection with the banking interest, not
only of capitalists, but ;of the laboring classeawbo were
out of employment by the present crisis
Mt Woman withdrew his amendment, gating that it
had not been his design to bring up thequestion of
banking generally.
SeOPII:LD moved that the further consideration
of the bill be postponed. and that it, together with the
amendments agreed to, be printed; which motion was
agreed to.
Awl then, on motion of Mr KILLINGEB, the Senate,
at ,SX o'clock P.M., adjourned until to-morrow at 10
o'clock A. M
Tko Mouse mot et 11 o'clock. The journal of
ye3terdny was read.
The SPEAKER presented to the Rouge the me
mori .1 of the Presidents of the Banks of Phila
dolphin, which was read and referred to filo Com
Witt.° on Banks
lAlsn, a connuunioation from thecitizens of Barks
county, asking relief from the suspension of the
blinks, which was referred to the same committee.
•Thu various counties wore than called for peti
tions. memorials, remonstrances, ,tc. Communi
cations were received from Allegheny, Schuylkill,
and Washington counties, on the subject of the
suzpension of the banks, and referred to the Com
mittee on Banks.
Leave of absence Was granted to Mr Backhouse,
or Allegheny county, detained by sickness at his
- •
MI KAUFFMAN offered the following resolution,
rthiell wag agreed to:
Re' ,!red, That a hen this 111.11141) adjourn it taljoarus
to meat at 3 o'clock tki9 afternoon.
' Mr .Montia offered the following resolution:
I Reesteed, That the Governor's Message bo referred
to o select committee of thirteen, to be appointed by
the Speaker, who shall report upou the satuo by bill , or
otherwke, as soon as 11091itat)
I The tosolution was read a first and second time,
and adopted.
. The SPRAKEIt stated that the committee would
be announced at the next mooting.
Mr. AiU3l3fA also offered a resolution authorizing
the Clerk of the Ilouse to purchase fur the use of
the members one hundred copies of McKinney's
Lige:E. of Tams relative to hanks, saving institu
tions, ac., provided the cost should not exceed one
dollar per copy, which resolution was not agreed
air. KAUFFMAN read in place a bill temporarily
quspending certain penaltiev, which WB5 referred
to the select committee of thirteen.
Tho bill provides for suspendiug the penalties
against the banks on certain conditions
Als.), a bill authorizing a temporary loan, which
wee read
The bill authorizes the Qoyernor to negotiate a
lean not exceeding one million dollars in the Mai
The question being on Its reference—
Mr iCAPFPMAN mated to refer the bill to the
select committee of thirteen.
Mr FOtITER (of Clinton) inquired what exigen
cy existed which required the negotiation of a loan
of 51,000,000 for the Commonwealth. Did the
gentleman know that the State was bankrupt
Mr. KAUFFMAN did not know whether the money
of the State was deposited in the hanks of Penn
aylt aide or not; if it was, ho thought the State
'Tai iu a bankrupt condition.
Mr Parr. asked the gentleman fro}..l Lancaster
(Mr. Kauffman,) in HOllllOlO of the Commonwealth
and her great interests, to withdraw the bill for
'the present They were not in a condition to pub
lish to the world that Pennsylvania was in an ac
tual mate; of bankruptcy. Such an acknowledg
ment was contained in the bill, and designing men
would use it to the injury of the credit of the
State. The times w ore toosurious, in his judgment,
ler introducing measures of this character.
Mr Mretta thought the subject too serious to bo
hided with. Tho object of the gentleman, he sup
posed, was to provide a circulating medium in ease
'the suspension of tho hanks continued, and ho be
lieved this could be reached in some other way
than by a loan on tho part of the Commonwealth,
which Man was not needed, and therefore should
not ba raised.
dfr MCCALMONT said that tho proper committee
to which the bill should ho referred was the Coin
mitten of Ways and Means, to whom subjects of
this nature were always referred; but if the gen
timuttli vented a fancy committeo for his bill, ho
suggested tho Committee on Vice and Immorality
1r KAUFFMAN did not think that his constitu
ents would roar that the Commonwealth was bank
rupt bemuse he introduced this bill. Its object
Mil to get change for the community, to got into
circulation relief notes of the denomination of one
and two dollars, which the people would know and
pay out, and receive with confidence. There was
no likelihood of gold and silver being a circulating
medium for a long limo to come. and it was neees•
eery to provide cameo relief meatier° of this kind.
The motion to refer the bill to the special vale
t/14RM was decided in the negath e—Yana 92, nays
1, (Mr. li:infra=
ftlr. BALL moved that the limp° proceed to the
con. , :ideration of tho bill, which motion um
agrecil to,
On motion of Mr ri:ITER, the further considera
tion of the bill was then indealnitely postponed by
a vote of 93 to 1, (Mr. Kauflum.)
Mr. JENKINM road in his placo a bill to change
the place of holding the elections in the borough
of Scranton, which ho desired to be considered at
The bill was taken up and passed the houso at
which the elections were formerly hold having
been torn down, it was neceoary to lix another
Mr. Poet; rend in plum at bill entitled an act
concerning . banks," which, on motion. was referred
to the special committee of thirteen.
Mr..llANcocK offered the following resolution :
Whereas, The people of Pennsylvania wall be called
upon, through the ballot-box, for an expression of
opinion. on Tuesday, the 13th of October, as to who
shall represent them In the hall of legislation; and
Ogren,. the banks of this Commonwealth are in a state
of suspension, and that the people, in their capacity o
freemen, may have a right to express their assent of
disapprobation of any measure concerning theta at thar
time. therefore, be it
lirsoteed, by the Senate and House of llepresenta
that are adjourn sine din on 'Thursday, the 9th
day of October. at 12 o'clock M.
The resolution was considered in committee of
the whole, (Mr. Williston in the chair,) and was
reported to the llouso without amendment.
Mr. 11IF:9TAND moved that the further conside
ration of the resolution ho postponed until Tuesday
Tho yen , and nays worn required by Mr. Ilex
cock and Mr. HEISTAND, And icero as fellows, viz
r.4.—.l4esfls. Andes on, Augtutine, Babcock,
Boehm, Ball, Bermon, Bi.hop, Campbell, Cleaver,
Crawford, Hoek, Eyster, }Dater,o,bboney, Mest
erei, Ililieges, Hine, Holtman, (Le!banon,) House
keeper,• Itu brie. Jacobs, Johnson, Kauffman, Kerr,
Lebo,Longnicer, Moorhead, Mumma, Musselinan,
Penrose, Peters, Pouliot!, Purcell, Recd,
Stevenson, Struthers, Thorn, Vickers, Wagonsel
ler. Warner, Witherow, Wright-13
Nsys—Messrs. Abrams, Arthur, Beck, Bower,
Brandt, Calhoun, Carty, Chase, Ent, Pauield,
dea, Hamel, Hancock, Harper, Heins, /lonian,
(Berks.) limes, Johns, Knight, Leisenring, Lovett,
Manear, M'Calieont, vain, Nichols, Nicholson,
Nunnemacher, Pearson, Ramsey, (Philadelphia.)
Ramsey, (York,) Reamer, Roberts, Rupp, Sloan,
Smith, (Cumbria,) Smith, (Centre,) Smith, (Lu
rarue,) Talon, Vanvoorbis, Voeghley, Walter,
Westbrook, Wharton, Si' intrude, Trarsley, Zim
merman, Coto, (Speaker)-17
Mr. TIIORN hoped that the Bowie would not
adopt the resolution. Within an hour, it commit
too of thirteen Wu! 4001 appointed to take into con
sideration and tepi(rt upon the message of the
Governor, and the various bills which had been
presented. Would it be right and proper, after
having done that, to move to adjourn sine
to-morrow at 12 Al If it hod been the intention
to adjourn to-morrow, and let cpery body and thing
talce care of itself, that committee had better not
have been °rooted.
On motion of Mr. CAtmoun, the Mouse then ad
journed until three o'clock P. M.
The House mot at 3 o'clock P. H.
Mr, VAN Voitiives read In place a bill to correct a
clerical error in the act of the lath of May, MT, enti
tled un act tp legitimate Mary Alleo; the bill oat read
three timcs and paused.
Tho Speaker stated the Ituaineas in order to be the
eousidetAttort of the repadutioue submitted yesterday by
Mr. GIL ova gallthg for exhibits l rout the various banks,
the question being bn a motion to postpone them indefi
The question was taken, and the motion was not agreed
Mr. G MUSA aubinitted the following additional reso
lotion as au amendment ;
" Resolved, That the cashiers of the aevevnl banka
of thhi Commonwealth ' shell forthoilth make out a list,
under oath or affirmation. of the amount of moneys
loaned by each bank respectively, mid the time when It
was loaned; each particular aun4unt, whether to Indivi
duals or thins, and their names; and also the amount of
notesin circulation, specie on baud, and the amount of
deposits, together with all the assets which can be con
carted into specie at any time, and the particular busi
ness or trade m which each borrower is or was en
gaged "
Ho moved that the Mouse resolve itself into a Com
mittee of the Whole for the pm pose of considering the
amendment to the recolutioni.
. • .
Mr. IltEergen moved that the House resolve itgelf
Into Committee of the Whole fur the purpose of gene
ral amendments, which motion was not agreed to.
Mr. I,o:wan:tin suggested that the gentleman frame
Philadelphia should add to the oubstitoto the words,
"maid exhibit to show tho affairs of the banke for the
tact SIX 311011tilS "
Mr. (7u.ust adopted tin. suggestion, and tho f,utiti
tutu waa an amended.
Mr. BUJ. desired to know whether the names of in
dividuals and firms score to appear in the exhibit "hick
these resolutions called fur. lin did not think
that their inquisitorial powers were quite equal
to this They had no right to make public
the names of Individuals or firms who had received ac
commodations from the banks, ut a time when such pub
lication would very likely ruin the parties Such an
atteinpt would be attended with great risk of Injuring
numbers of honest men who were Int olved, and who
Were nobly strivinx to eats irate themselves
Mr. (lusts mud that It had become a point
of great necessity that they should know how
the banks had been managing their business, and
ascertain, if possible, the causes that hale brought
about the present difficulties It they nem
to lie striven from the pursuit of this informa
tion, by the apprehension that it uugtit embarross
individuals she have been the iecipleuts of tank
favors, the result might be that they crunlel legislate to
the general detriment of the people of the common
wealth, merely to save the reputation of a fen indi•
video's. There had hardly been .e loan made to a
business luau which, if made knou m , u mild net to
his detriment; if the exhibit was made, it
would show loons, , and liberal ones, to irresponsible
parties s ho, by Ins oritimm had received aCCorUinOda
tions,and if this was known they would be enabled to le
gislate, and hOld the hanks to a strict accountability,
punish them for violating their plainest duties, and
thereby give protection to the honest portion of the
community for the future. It mils not an uncommon
thing for paper to he thrown out of the discounting
rooms of a bank, and parties about the floor of the bank
ing house to hail the parties holding it, and propose to
discount it. If it could be shown that the banks had
been giving such persons the means to conduct a busi
ness of this kind, it would citable the Legislature to
correct a great evil
Mr. LOSOECKER said that if the resolution was not in
such form as to require the name of utery person whose
paper wits discounted, he wished It in that form There
was nothing dishonorable, in his opinion, in having a
tunti'm namepablished as having received an acconfonoda
lion from a bank The banks worn asking for legislation,
or, if not the banks, the people here They wished
some remedy by whirls they should be carried through
the present difficulties, and the Legislature must know
what relief soar needed, before it could act. When a
business roan called his creditors together, and asked
for an extension of time, he always exhibited to them
the state of hie business; he opened his books find
showed them every dollar which he owed, and every
dollar of bin assets, and tho particular individuals
whei owed it, and sat down and discussed with
them the probability of this or that man being able to
pay him ,• but the Legislature Were called to legislate for
the people, and In legislating for them they would he
mired to give an extension to institutions who acknow
ledged themselves, by their very acts, to be insolvent,
under the charters they had received from the Lcgislas
tore ; and yet, it woo too delicate a matter to call upon
them to open their books mud have a proper investigation
Ile hoped there was not a member in the Ifon,:o who
would refuse to sanction this demand for an investiga
tion If they made the demand the banks, at least
these of Philadelphia, would have an opportunity of
knotting it buten to-morrow morning, and if they saw
proper, before the end of the peek, furnish at least a
partial statement, or give the reasons for not doings°.
Mr Ersren had yet to learn, in all his experience,
that when a debtor naked for a suspension, his creditors
would require him to bring before them a statement of
his affairs, and after examining them, publish them to
the world It would to an outrage that would shake
the sensibilities of almost every man. no hoped the
motion would not prevail
Mr. Toon:: did not think that there was sufficient time
in the few days they would be in session to obtain the
statement, and, besides, that a portoin of the informa
lion asked could neyer bo furnished. They were legis
lating for the people who needed relief. Their assets
were not worth a button if their property ties put un
der the hammer, but if prudence WIIS observed and the
banks allowed to go on, the people would be saved and
the banks become solvent. It was mid that the State
had a million of dollars in the hulks, end if they
were closed the State would lose that money, and
next February would not be able to pay her in
terest, nor would any of the ilicorpOrated cities
whose Node were similarly situated. It was ab
solutely ridiculous to suppose that the banks or indi
viduate could pay in gold and silver one lithe of their
obligations under the present very stringent laws
Some =wore should be adopted which would restore
conlidenetqietiteen the people and the banks.
Mr MCCALIIONT said that the publication of the
names of persons who had receiced accommodations at
the hands of the banks would tend to a general de•
Milli:Mon of confidence. There were hundreds of honest
and good men who, if their names were pecti; billed au ro
cots Ing such accommodations, would be unable to con
tinue business, bat must inevitably fail. Ito was de
cidedly opposed to tho resolutions
Mr. IliesiaFp opposed the resolutions
Mr. BALL called the attention of the House to the
fact, that whilst the resolutions required an exhibit
which marshalled the amount 01 indebtedness of part.,
before them, it did not call for the assets which those
parties would receive whew their paper was discounted,
and into what shape they had put them It might be
that the assets would be coming in at some early day to
the relief of the parties, and it required all the, skill
and credit and the faith men put In them at this particular
juncture to suocessfully regain this fund, with or without
profit, that they might inert their liabilities In this
view, he thought the resolutions, if adopted, likely to
ptoduce great misfortunes
Mr. Kitirrusx few .tcloork9 iv oppolition
to tho regolutions
31r. CALHOUN advocated the resolutions, but was op
posed to that une which called for the names of tnit
sldards who had received accommodations Ito thouirht
it best for them to pass the resolutions, asking state
meats from the various bunko, and then adjourn and go
home, and re-assemble In the course ,of a month, when
all the tnformation devised could be laid before them in
Ito entered into an able argument show*/ that
their powers as a legislative body continued until the first
Tocaday In January, and did not expireon the 13th of oe
tob.:r next, as nas supposed by some who had not ex
amined the
Mr OiLDrA said that ao he was anxious that the reso
lutions should be adopted, he would so modify the
amendment as to strike out that portion which calls
far the names of parties who had received accoinmodn-
Ilona from the bank, which appeared to be the ou'y ob.
jeetionable feature in then,
it amendment WAS M., Modified The question
being on the House resolving i4elf into Ccaututttee of
the Whole for the purpose of considering said amend
The yeas am( nays were required by Metsrg. !buss
abd YEARSLEY, and were as Cottons, viz:
Vass—Messrs Abrams,Anderson,Arthur,Backus,ltall,
Hoek. Benson, Bower, Brandt, Brown, Calhoun, Camp
bell, Chase, Ent, Fausold, Poster, Glides, Hamel. Hsu
cock, Harper, Heins, Hillegas, Huse, Hoffman, perks,/
Intbrie, limes, Jacobs, Johns, Johnson, Herr, 'Knight,
Lebo, l.eieeuring, Longsker, Lovett, Menear, Mellvain,
Muttons, Nichols, Nicholson, Nunuewacher, Pearson,
Purcell, Ramsey, (Philadelphia,) Ramsey, (Tork,) R, a
user, Roberts, Rupp, Shaw, Smith, (Canaltria,)
(Ventre.) Smith, (Iturerne,) WWI, Vanvoorhis,
Vickers, Voeghloy, Wagonsoller, Walter,Warner, H e,t
brook, Wharton, Williston, Wiatrolo, YearAley,
merman, Getz , ( S peaker 1-67.
N 11'8—Messrs. Augustine, Ilabcoa, Bishop, Clots r,
Crawford, Dock, ki)ater, gibboney, Hamilton, Itteataud,
Bemoan, (Lobatton.) llonixtieepor, Itouirinan, Moor
!mid, Musselman, Penrose, Peters, Toenail. Reed,
Sloan, Stevensou, Stiuthore, Thorn, Witheroir, Wright
So the question WWI determined in the affirtnetive
The How, then resolved itself into Committee of the
Whole, (hie SMITH, of Cambria,) in the chair, and pro
ceeded to the con.ideratlon of the amendment to the
The question being taken, the amendment wee agreed
to, and the resolutions as amended were reported to the
House, read a third time, and passed.
The resolutions to adopted are se follows
Resolved, That tt 19 due to the people of the Common
wealth that they and their representativea should know
the condition of the banke of the State before proceed
ing to legislate upon the recent fillSperliioll
ReSoiVid, That the banks of the Commonwealth be
required to exhibit at once to the (lovernor, to be trans
muted to the begialature, their condition. the exhibit
to he In atich detail as shall show the amount of their
ttLposits and circulation, the character of the aecurtties
upon which they have been loaning money, that the
Legislature may know the amoral is loaned for legitimate
business, and the amount loaned for mere speculative
it, tol red, That the cashiers of the several banks of
this Commonwealth shall forthwith make out a list,
under oath or affirmation, et the amount of monys
loaned l.y each bank respectively, and the time when
it was loauel, • sch particular amount, whether to indi
viduals or tirn, , and also the amount of notes In emu
lation, specie on hand, and the amount of deposits, to•
giber with all assets which can be converted into
~)'tire tit tin) time, and the particular builines I or triile
in which earls burruercin ur ens engaged , said exhibit
to alio n the ailsurs of Ito' banks for the nienthi
• Iff llr.na111"1,4 thqt ,01(.11 the llou, journi, it
ho to moot to•morro4 morning at ten o'clock, n hick mu.
tioll `633 agreed to
On motion, the House then adjourned
An Act relative to the suspension of specie payments by
the banks of this Commonwealth, nisi providing for
thu better security of note-holders:
Sr Clare 1. Ile it enacted by the Senate and Mouse of
Item esentat Ives of the Counnonw ealt is of Pennsylvania,
in General Assembly met, and it is hereby enacted by
the authority of the same, That so much of all acts of
incorporation or other laws, as provides for the for
leiture of any charter, the imposition of any penalty,
the making of a compulsory assigenieut, or the pay.
fount, by way of penalty, or otherwise, of a greater
rate of interest than nix per centurn per annum for, or
by reason of the non-payment on demand of the liabi
lities of any corporation, be, and the mine are hereby,
suspended, and made inoperative for the period of sixty
days after the passage of this act, and all of such acts,
or parts of acts aforesaid, shall, at the expiration of the
said sixty days, be suspended and made utoperative for
the further period of eighteen months, in the case of
such banks an shall, within sixty days after the passage
of this act, file ha the Mike of the Secretary of the Coin.,
mouwealth an agreement to comply with all the provi.
sloes hereinafter eontained,which agreement shall have
been approved by a majority in interest of the stock
holders present at a meeting duly called for the purpose
of considering the same, and the mad acts nr parts of
acts CO sipipanded 41.111, at the expiration of the napes.
tier periods horrid dcsignated, Vein become operative,
and be of the eamo force and effect as though this act
had voter been pasted
Seep en 2. That at the expiration of sixty dot, after
the passage of this act, it shell be the doty of tile Secre
tary of the Commonwealth to Ville a inoclainatiou
ting lerth the names and locality of the banks which
shall hare filed the agreement aferHaid, and cause the
same to be published is one or more nom luipora in cad,
county whet sin to book enuineratal in each prothiceatem
May be located
fits, rios .1 That it shell not be lawful fur any Lank
within this CSnimonwealtli, accepting the pros ision9 of
this Oct atter the first day of January, Anne Domini one
thousand eight huhdred nod flits -nine, to ksue, or pay
out any of its own notes but such as shall be reined in
the manner hereinatter pro) idea by 0114 net
tirerimi 4 That the Auditor General of Om COIIIIIIOII
- lo hereby authorized, and directed to canoe In be
°bp!, ed, and rioted in the beet manner, to guard
iig„iiiirt counterfeiting, such quantity of circulating
notes, in blank, of the different denominations, not le -
than five dollars cacti, which ere authorized to be i• , ue.l
by the incorporated banks of this State, as he may from
time to tune
nece , i,ary to carry into etlect the
pros kit) aof this act Said blank circulating notes
shall be countersigned by the said Auditor General,
or by a clerk designated by him for that purpose, and
lumbered and registered in his office, by and under his
direction, TO that the notes of each denomination
of such circulating notes named to the same
bank shall ha uniform, All Buell circulating notes of
every ilenornivallins shall lie stamped upon their twee
"secured by pledge of public stock:. The form and
devices of such circulating notes Inky be selected by the
bank which may be entitled to receive them under the
provisions of this act; but the Auditor General 51131 1
prescribe a uniformity, among all the notes eugrased,
to the des ice for recoiling the signature if the Auditor
General did the miniber herein directed to be put upon
such notes by bin Or In his Oleo.
SaCrioN 5 The bank legally assigning to and deposit
ing with the Auditor General the bond', es ideneet of
debt of this Commonwealth, shall be entitled to reCeile
from the raid Auditor General an equal amount of such
circulating notes, in blank, of the denomination such ns
they may prefer, numbered. registered, countersigned,
and stamped, as aforesaid; but such Slate bonds to be,
or to be made to be, equal to a stock producing floe per
realm per annum, and it shall not be lawful for the
Auditor General to take loch stocks at a rate above
their par value or above their current market value
Bannon 0. That the Auditor General shall collect, at
the regular periods, the interest that shall accrue upon
the State bond, oleposited with rum an security far ,the
circulating notes issued under the preceding section of
this act, and shell ply over the same ors demand to the
hank from which they were received, so long ad the
market price of said bonds does mot fall below the rate
at which they were latest by him. In the event of stuck
a depreciation, the said Auditor General le authorized
and directed to retain the said Interest until the said
securities shall recover their full value, an stated in their
receipt or deposit, or until such further deposit shall be
made as will fully make good the amount for which the
circulating notes 00000 issued; and the Auditor General
is further empowered. lu case of such depreciation in the
securities deposited, to regrure from the bank either , an
additional deposit of !Rate bonds, to make up fully
the original veracity for the notes !visaed, or toe re
turn and surrender by the bank depositing, of ao much
of the amount of circulation received from the Auditor
General as will make good the deficienty of seenrit
produced by such a fall In the market value of the said
deposited securities; and on the failure of such bank to
comply with mach demand, within twenty days after it
shall be ensile. all the Privileges acquired under this act
shall be forfeited, and the Auditor General shall itulde
diately take the proper steps to cause the affairs of veld
defaulting bank to be liquidated
Saolloa 7. :Diet the State bonds deposited with the
Auditor General, under this act, shall be held exclusively
for the redemption of such circulating notes an have been
issued thereon ; but, on application of the look deposit.
beg, he m tr 1 etrsnufr e them, en receiving and canceller
an equivalent dal omit of the circulating hotel for uhich
they wash pledged. Ile may also receive and cancel
mutilated circulating note. issued by him, end shall de
liver in heti thereof other circulating. rote to the sal lie
amount, and the mutilated note. returned shall he
horned to ashes by the Auditor General iu the preset.,
of the State Tre, roe
SECTION 8. Thal I , lle en urnieu shall be am
signed to,
and depo•ite the Auditor mime! In
manner aforesaid. a fell closeriplion Of the - exine, signs]
by the said Alidit n I; curial, :1 , 11 the presidellt awl
cashier of the bank useiguing add depesitieg, the
shall be Bled and recorded m the office or the' lei 1 Au
(titer (tonere!, and also, in the (Mite, of the State Try,
sneer, and every change or trau , ree of the same 011111
be described, tiled, and recorded in the same manner.
Tlie securities shall be delivered to the State Treasurer
tor safe keeping, on his receipt to the Auditor General
for the salve, and any re-delivery of the /line to the
Auditor (leveret. for any of the purposes of this act,
shall be made inn written order of the .Auditor Gene
r epecifying the pm poses for which they are re
quired. which order shell be filed and recorded in the
state Treasurer's office, with the Auditor General'', re
ceipt for tho eecurities, or any portion of them delivered
to him. A report from the Auditor General, of every
rule and disposition of said securities, shall also be hled
in the office of the State Treasurer.
SneehuN if. That it shall not be lawful for the Auditor
tieneral to countersign bike for any bank to an amount
in the aggregate beyond the amount of State bends de
posited at their rate of value estimated ander this law.
A vie/IA(10[10f this provision shall subject the said Audi
tor General, on conviction, to a eine of five tnousand
dollars and imprisonment in the penitentiary for a term
not less then seven years
SgetieN 10 That thu plates dies, end materials pro
cured Ly tho Auditor General, for the engraving and
printing of the circulating notes, as directed by this act,
shall remain in the custody and under the direction of
the Auditor General, the necessary expenses incident to
' procuring tho said plates, dies, and materials, the print
countersigning,uid registering of the"
sante shall pasd by the respecttsp bents for whose
use they were incurred, before the acid notes shall be
delis ered by the Auditor General ; and the raid Auditor
General is further authorized to charge and receive from
every bank suet. rate, per esutuut, as may tee sufficient to
delraytheir equitable proportion of the general expenses
incident to the execution of this set.
. .
Secrets 11. That the banks receiving such blank
circulating notes are hereby authorized, after having
them signed by the president and euhler thereof, in
such manner no to make them obligatory promissory
notes, payable nn demand at the place of business of such
bank within the Commonwealth, to loan and circulate
the name as money according to the ordinary course' of
banking business as defined in thisact
Secrioal2. That in ease the bank making any notes
count...l,4;mA, registered. soil i=stitil, as aforesaid. shall
at any tune, within the usual hours of business at the
banking house of such bank wiser. the same is made paya
ble or redeemable, reface to pay or redeem the same
on demand, in lawful money of United States, the
owner of such note may Cause it or so many of such
nulls as he oily present, and if payment is not made,
to be protested for nun-payment, and the Auditor Gene
ral, on receiving and Sling such protested note or notes,
shall forthwith give notice to the bank Issuing said
notes to pay the same, and all costa, and if it shall omit
to do so for ten days after the service of such notice,
the said Auditor General shall thereupon give public
notice in at least cue newspaper published in Harris
burg. and one newspaper published in the place of bus!.
nesi of such bank. that all the circulating note. of such
bank a ill lie redeemed by him ont of the trust funds de
posited in his hands.
Nrcrios 13 That no bank shall, after the protest of
their note or notes, as recited in this act, make any as
signment, transfer. conveyance, or sale of their property
or assets; every ouch assignment, transfer, eonreyanee,or
sale, Asti be null and void., and every president, cashier
nod officer assenting to such assignment, transfer,convey
eller., or sale of such property or assets, shall be per
liablo in full for all the debts of the bank, and
may be adjudged guilty of a misdemeanor, punished. on
conviction, by flue and imprisonment Provided, That
the protest of the notes drat protested shall oonstAnte a
lien for the benefit of the creditors of said bank noon all
the assets of the bank not in the hands of the Auditor
SLCTION 14 That the Auditor General, on giving the
public notice, required by this act, of the non-payment
of any protested notes issued under the authority of
this act, shall proceed to advertise immediately for sale
at public auction, at the Merchants' Exchange, in the
city of Philadelphia, the State bonds deposited with
bun by the makers of said protested notes, and on
the day of sale, which shall not be less than
thirty days from such advertisement, and which
said advertisement Ault have been published at
least twice a week for four weeks in two dady
newspapers printed. tu the city of Phitadelphla, he
shall cause the said securities to be sold for cash under
Ins own supervision ; and shall, after deducting the ex
pense] of such advertisement and sale, apply the pro
ceeds of sand sale to the redemption pro rata of all the
notes in circulation, whether protested or not protested,
matte and put into circulation by the bank of such pro
tested note,. Provided, That nothing in this act shall
he Lon,llered co implying any pledge or undertaking on
the part of the Commonwealth for any payment le
y obit the faithful application of the securttles deposited
with the Auditor General.
:Jet:mix 15 That if the proceeds of the sale of the
eslit sscurities should exceed the amount required to
redeem and nqy the circulating notes aforesaid in full,
the Awl:for If mien' shall pay over such excess Into the
general fund of she assets of said bunk ; bat if the pro
ceeds of such sale should be Insufficient to provide in
full for the said circulating notes, and he should de.
dare a distribution pro rata thereupon, he shall forth furnish to the trustee, of said insolvent bank a cer
tilleate in writing of the amount of mild deficiency,
which said certificate !hall he legal notice to them to
reserve out of any meets of such insolvent bank which
rosy be in, or may come into their hands, an amount
sofficient to prorate for such deficiency, and he shall
furnish to every holder of any note or notes pre
sented to bun for redemption, and redeemed in part. a
certificate of the amount unpaid on such note or notes,
and such certificate shall entitle the holder topayment
of the amount therein designated In full out of the as
sets of the insolvent bank herein directed to b referred
if the s Lid assets should he aufficient to pay all the
note+ in full, or ratably if they should not be sufficient,
preference to any other chime and debts vhateser,
except the costa of liquidation; and should the proceed;
of the solo of the said securities be insufficient to redeem
all the notes put in circulation by any bank Under thin
act, then the stockholders of said bank shall be liable
for the full amount of all unredeemed notes in the
ratio of the stock which each one mayor's.
SECTION 16. That the bolder of any circulating note
which may have been protested for non-paymentshall
Iw entitled to damages at the rate 01 twelve per centaur
par annum In lieu of interest, until final payment, pay
able out of the general assets of said bank.
SECTION 17. That the stock and dividends of all
hanks, subject to the provisions of this act, shall tie
subject to the same tally which are now, or may here
after be, provided by law taxing bank dividends and
St 00100 H That all Lanka accepting the provisions
of this act nhull , when required by the auditor General,
kink° a statement In writing, verified upon oath by the
roamer thereof, specifying lu detail the amount
of capital paid in ; the aggregate amount of its
loans ; the amount of its toms basing longer
than owed days to run, distizioishing whe
ther on tgage or othervils° loans ou stocks, and
u het stocks; the amount of its circulation ; the amount
of its depoaitt; the amount of sust.vnded debts sad
protested paper, also, all other onsets not realizable is
ninety days, the mounter specie and cash assets, stating
ea .1 - 1 item ti parately. and also the dividends declared.
The +alt Auditor General Is hereby authorized and re
quired to call upon all banks, accepting the provision• of
this act, to furnish him, under such rules an he may
adopt, with the informat ion required of them by this
section, and the Auditor General shall communicate
said statements in tabular form to the Legist%tgio with
in ten days after its meeting.
liacTlei le. That auy president, director, clahler,
etc agent, or clerk of aoylesuk accepting the provisions of
this act, who Asti make Ulan statements or entries in
the books of such befit, ox who shall exhibit false
papers or practise wilful concealment of facts within
his or their knowledge, with intent to deceive the Au
ditor (liners' or other persons having lawful authority to
en moue, or to deceive the public as to the coo:Mom
of such Lank, ea also any person who shall , with a
mew to defraud any such funk, knowingly draw or pay
arir check or checks without funds In the said bank drawn
up's, or to the embeulement of any of the money or
assets of said bank, by any clerk, olificsr, or agent there
of, shall be subject, on conrietion„ to punishment in the
penitentiary fora term nut less than one year; and
when such false statements are made under oath, the
ii-nun or persons shall be adjudged guilty of perjury,
and punished accurdiug to law.
burins 20 That whenever any bank shall hare re•
4, emed eighty per cent. of its notes, and delivered to
the Auditor tieneial a certificate of a deposit to the
ei,. lit of the Sta.° Treasurer, In such bank as the Audi
tor tieing - Amoy approve, to an equal =aunt with the
vir..mlating Lotto null uuretheinol, it shall be lawful :or
him to receive the seine, and I'. gate up all seeunties
tl,rolor deposited by such bank for the railer.); tmo of
the mit:oAm; out. a ii.•uud
yet Tll,l a That Nov bank, after haring complied
with the pi orvions of the preceding section of this nut,
n, Kite unto, once a month, for one year, in a paper
published in the plate In which sail bank has its plac e
ut busiiie,s, that all the circulating notes iasued must
be pre.ent,..l at the Auditor (Ismer il's uff.ce within one
y. Nr from the date of the drat publication of such no•
too or that the fools deposited will be given up to such
b ink and on receiving antiifactory proof of the given
notice for the time Mermaid, the Auditor General shall
surrender to sai4 bank any funds which he may boll
Mr the payment of the unredeemed notes.
di crioa ill That the Auditor General be, and he is
her. by, authorized, with the approval of the Governor,
to employ in bin oboe such additional clerk or clerks as
hi• inlay deem pecejsary In order to execute the duties
unposed upon him by this act, and to pay such compen
sation thornier no he may deem sunicient, the same to le
paid by a general assessment upon the hauls for whom
the bet, were performed
a t , a , tto, it Th it no president, cashier, or other ai
m, of any bank, shall discount any note of hand, bill of
exchange, or other security, without the same having
Dcen Brat and previoualy passed upon and approved by
Me board of directors of said bank; and any of Vio
lating the provisions of this section shall be deemed
guilty of a misdemeanor, and, On m4 1 '141 01 1 thereof,
ihall pay a tins a the hundred dollars, and he impel
sonol in the penitentiary fur a Como! hot tea, than one
year : Provided , That the provisions of this section
shall nut be held to apply to any txtia fide sight draft,
bill of exchange, or other security, drawn tun a point dis
tant from the Once of business of said bank, and not in
tended or deigned to ester a loan of money
A euppletnent to au Act regulating Banks, passed the
tteenth day of Apr t, Aunt, Ponsual one, thousand
eight hundred rod fitty
:3m., to', 1 Ito it enacted by the Senate and House of
Representatives of the Commonwealth of Pennsylva
nia in general Assembly wet, and it a hereby enacted
Lt the authority of the some, That in alditton to the
ealuisita of the affiairs and, comkitton of the banks of
this CoLosollssealth, now required by law to be mule to
the dilite; general, It elicit bo the duty of each et
said tanks to publish the folios, tag statements, to wit .
In the erne; of Philadelphia cod Pittsburg acid county
of Allegheny, It shall be the duty of each of the sail
b inks located therein to publish in one of the Obits
papers thereof, on the morning of Tuesday of each week,
a ..t oi - uncut verified by the oath or affirmation, of the
piesulent or cashier of said bank, showing the amounts
respectively of its loons and discounts ' specie deposits,
circulation, and total assets, audliabillties, on the day
mkt preceding 5.114 publication; and in the rest of the
Commons, ealth. it shall be the doty of each of said
banks to make tooter.," return to the Auditor general,
under Ole oath pr affirmation of the president, or
cashier thereof, on or before the tenth day of each
month, a like statement of the particular and total
assets, and liabilities of said bank, as the Setae existed
on Monday of each week of the next preceslibg month,
which stateineuti the Auditor general shall arrange in
a tabular form, and publish the same at the expense of
said banks respectively. to uue of the newspapers of the
county of Poaphiti, and if any of said bulks goal re•
fuse or neglect to publish, or make the said statement
fur two alms:naive weeks or months, as the case may be.
it shell forfeit its charter, and shall he proceeded
against, as provided in the nineteenth section of the
Act to which this it, a supplement
Svcrios 9 Tlmt uo lank, incorporated under the
laws of this State, shill hereafter, 'during' the existence
of its charter, declare or pay to its stockholders divi
dends for any ono year to a greater amount than six
per radon., clear of Sate 'taxes, until after the said
bank shall bate accuumlated. from the profits of its
bu-rues, a reserved or contingent fund, of not less
thou twenty-tWe per rectum, not more thanithirty per
centum, ou its capital stock paid In; nor ltitr.Afteri
dii idends for any one year to a greater amount than
nine per cent , clear of State taxes, and all profits
earned by any of said batiks, after the acenmulatjon of
=aid reserved or contingent food over and above said
dividends of nine per cent , clear of State tax, shall
semi-annually, at the time of declaring dividends to the
stockholders, be declared by the directors, and paid into
the treasury of the Commontrealh; in ascertaining said
excess, ail debts due 1411/ bank,
,by notes, bills, or
otherwise, shall be taken into aceonnt at their full
amount. unless all the parties responsible therefor shall
have made default m the payment thereof, in which
latter came they shall be taken Into account as soon as
collected , if any of said banks Alan refuse, to
declare and pay into the treasury of the gym ? any
dividends of the surplds earnings, as aforesaid, or
to make a satisfactory eaten:tent concerning the same
to the Auditor flu:1ml, the said officer shall settle an
account and proceed against said bank as provided by
law is the case of defaalt in the payment of the tax on
dividends, and It shall be the duty of the president or
cashier of each of Said banks to , Include In the 000 ma
egibit rogykrect,to bqyAflq by 411 Illgt IQ, R4 I 4R INi ft
a supplement, a statement of the amounts, respectively.
of dividends declared, of the reserved or contingent
fund, and of any excess, as aforesaid, paid or payable to
the State during the preceding year.
SECTION 3 That it than be the duty of the director,
of each of said banks, send-annually, when they declare
dividends of its profits, alert to declare the amount of eta
reserved or contingent fund over six per cent_ clear of
tires, sa afore.a.d, to that date and within three months
thereafter, to invest, or cause to he inveated, the
amount thereof, not exceeding in the aggregate
thirty per cent. of the capital stock. as store
s,td, in the loans of the United States, or of
this State '
at their market value at the time of invest
ment, and so to reinvest the same as the said loans May
be paid tiff and the c,tiaeates of said loans shall be
deposibd. be the president Or cashier of said bank, with
the Auditor General of the State, who shall from time to
time collect the interest thereon. mud pay it to the bank
eolith reeehr_t pr ssine Ant if, at any time, any of
liosuks shall refuse to pay its notes. on demand, in
fold ur slier. w required by law, it shall be the duty
the Au lime Geis, al. upon recei. ug satisfactory
e via. nee 01 sod rrt asst. sod pon thirty dare' not" to
sill bulk, to d,. pose of, at politic sale, in the cities of
i Lidelpli la or Pi t t stur:h. till, or such poftion of said
100 . , 'KO depolit,t x ith him by said bank, as may be
neeesiary to pay the holders of said slates Cu full. And
it they shall nut be sufficient to pay them in ball, then
the proceeds of said 'ale shall he divided pro rata
among said note-holders. Prot aed, That nothing in
this section contained shall be NJ construed as to inter
fere aRh any other reined) or penalty contained in the
act to which this le a supplement, for the protection of
and note-holders; and it shall be the duty of the Au
ditor General to lay before the Legislature, in his an
neal report upon the hanks, a statement of all such
proceedings by him.
hornet .1 That no leak, savings fool, insurance, or
trust company shall, directly or indirectly. purchase. or
be concerned in the purchase of. the notes of any of the
incorporated banks of this State at leas than their par
seine; and every violation of this section shall be a mit
&wean., punishable, upon conviction, by a One of not
legs than five hundred dollars, nor more than one thou
sand dollars; one half to the prosecutor. and the other
to the use o. the proper city or county_
SecrioN 5. That hereafter it shall not be lawful for
any bank of this State to acquire its own cap:tat stock,
except when taken in payment of debts to said bank. in
which case the slime shall be sold within ninety days
thereafter; and if any such hank be the owner of any
portion of itA stock at the time of the garage of this
art, the same ,hall be sold within-one year thereafter,
or as soon after the expiration of aid year as the par
value eau be had therefor.
. . . .
tiLTTION d. That. from sod after the first day of
next, it shall not be lawful for any bank to ovate, or
pot in eirenlatlon, any note bin, ticket, or
paper, purporting to be • bank-note, of • less denomi
nation than ten dollars,
inure Si zea.—•• Caneelle; Or, The Estee( a Coquette"
—" The Brigend."
We,,rr Breser Cadre!. N. E. colter' cr Nesme
AND WALNUT atIECT3 —`• Eltrvnief"—• • Beware of G a
N trIONAL Te■ITkE.WSLStt Srazet, stars Kronur.
—°•The Inconstant; Or, Wine WorksWowiera"--Your
Wes in Danger.''
—.Miscellaneous Coraerts.
CIIESTSCT —Ethlopisn Life Illustrated, conelnimg with
Box and Cox "
Fires.—Yesterday morning, shortly . before
three o'clock, a fire broke out in the third-story
room of one of a row of unfinished dwellings en
Emeline street, running from street, be
tween South and Shippen. 'The flames were dirco
rerod in time for their early extinguishment ;
and the loss will not exceed twenty-fire or
thirty dollars. There can be no doubt whatever
but that this fire was the work of an incendiary,
and it is a singular fact that. on the site of the
building to which the torch was applied, there
formerly stood a carpenter shop which had afforded
food for the incendiary for some dozen different
times. The dwelling that was burned, together
with the others of the row, belongs to John Mc-
Carthy, builder.
About four o'elock yesterday morning. another
alarm of fan was given, coming from a box at
Eleventh and Lombard streets. The fire, however,
was much nearer to Seventh and Lombard streets,
and it i- singular that the box at that corner was
not stru,:k, as it was in order. The flames were
discovered issuing from a stable co Bedford street_
between Sixth and Seventh. and of coarse, the in
flammable nature of the contents of the structure
rendered its destruction certain. The horses were
taken out in safety, but a lot of harness, etc.. was
burned. Back of the stable was a frame dwelling
home, which, together with a feed store adjoining,
and which fronted on South street, was oven Pied
by Edward McGurk. The three baildings, this
stable, feed store, thus occupied a
long lot extending from Bedford street to South
At the time this fire broke out, a woman, who
happened to be up at her home in Bedford street,
between Sixth and Seventh Streets, saw a young
fellow, who was dressed in dark clothes, come out
of an alley on the upper side of Bedford street,
and which led to the rear of the stable of Mr. Ed
ward Me(lurk The young man ran up Bedford so
Seventh, and upon reaching the corner of Seventh,
street he fired a pistol, as though to communicate
a signal, and ho then ran up Seventh Street.
Almost immediately afterwanls flames burst out
from the bay-loft of Mr. lactierk. The fire, at the
start. was confined to the stable, which fronted on
Bedford street, but the property of Mr. Meat:irk
ran through to South street.
White this was going on the flames were raging
furiously; dorens of poor families were turned
into the street in their night clothes, and their
go , :xls were either devoured by the fire, or broken
to pieces in their removal.
The upper portion of the stable, with its tee
tents, was destroyed. The fames communicated to
the frame dwelling of the occupant, in the rear.
The upper portion of this building was destroyed.
The loss of Mr Mcßurk is about $5O. No insu
rance. The buildings occupied by Mr hieGurk
belong to Mr. Peter Cullen. The lots of the latter
is $5OO. No insurance,
The upper portion of a frame dwelling, owned by
Mr John Oar, and occupied by John Mishach and
other tetinnts, was destroyed. Some of the poor
people in this house lost all they possessed in the
world, and they narrowly escaped with their lire:.
Among the persons turned out into the street frota
this building was a poor woman who was confined
ou Monday last. Mr. Oaw lost SNO. upon which
there was no insurance.
Another adjacent dwelling. owned by Mr. Jason
flaw, and occupied by Charles McWilliams. was
badly burned about the upper part. Mr flaw lams
$lOO. Insured. The goals of the c>...enpant were
inured by water.
Vest of the stable, where the fire cocas:net:ea&
a bust of small dwellings. occupied by wor
and owned by James MeCluskey. The latter loam
$l5O. No insurance. The tenants angered greatly
front water.
Fire,teteetive Blackburn, who was at ill the
fires which took place during the night, male a
strict investigation into the cease of the Ere las:
doseribed. Mr. B in making an examinat,on of
the premises of Mr. 'Melnik, became eati•sed that
the tire was communicated through a window on
the west side of the hay loft In looking about
this spot, a box of friction matches was totted upon
the ground
Philadelphia Ropiest Association—This
body of independent associated churches hers.:
its 150th annual session on Tuesday afternoonorrth,
Rev J 11. Kennard's church, in Eighth. street,
above Wallace. This !anion is expected to be of
unusual interest—being called the I'6-Jubilee, the
cud of tho third fifty years. Special rerrices are
pr.vided fur
The intralotte.ry seimon, containing a careful
eel evlllprehCrlATO ki!lCry o f the associati , :n for
the past fifty years, wes prepared by the Rev.
Jn)eph Belcher, D. D. It showed that notwith
standing many advert, intik:Rum., it hen gra W 72
steadily and rapidly, until it i3 - Llit only the oldest
body of the kind in the land, but, with one or tn.)
exceptions, the largest It new contains neart•
enty churches, and upwards of 11 000 ineasbers
located in and around Philadelphia. It dress
however. embrace all the members ci' the den
na• within these bounds. as other similar ddie,,
oec at y in d art the acme gusted.
In the e ening the tellers r e ported that Rev J
II Kenn ird. I) I) was elected dloderatc,r, who,
tit n being intrLdu..ted by Re,. B. CithEth, the re
think; oftieer, made the usual opening, address
K M Loy was elected clerk. to of
Rev D F Csnishan, who remote" frnm the
The erer.ios 5e,.1:...n was ehiedy devoted toe
sideration of the interesta of the Penny!eerie
,ptitt Slinionary Convention. The Prailer.t,
lie Jams M. Litman!, gave an suldrew on the
310.,i0n we for the year He was fallowel
R.v A D. Gillette. D. I) , New York. ar3 Res
J. L 11nmwa of Richmond. V.
A number of brief allreme3 were then
!beret!, and a eclle,:tion taken in ioappart of oh 4
Puttee talaa Gibson, yesterely,
eetuntitte.l Fratreis Funk for taking daguerreotypes
thrt did tot bel , .;cg to him, zud in gostyle rot coa
templated by the engiestcr of the wiener.
Mr. dames Thompson, who was stopping at the
Franklin Howe. was robbed a few nights since tf
a massive gold wstch and chain, flitted at
A young colored man, named Henry Lawreace_
was arrested by Special °leer Taggart, ca tho
charge of perpetrating the robbery. On Saesday•
evening he bad a bearing before AldersaanEneu.
From the evidence, it appears that Mr. Thin:tsar)
was stopping at room %o. lg. Arcade Hnel, and
went into the Franklin by taLti,ke, and was shown
to room No 16. When he got up in the morrain,c , ,
he alleges. PIA watch, he were missing Cine-•,,,it.
ne ss stated that he observed Mr.,,, core
it,to the Franklin, sod at the time be woe eh:try
eh tin Mr T. appeared a! if he wrcte Ito get a
drink, and Mr. Lawrence told bir, if he would go
up stairs he conbFget one Firrally, Mr. Thompion
wa, prevailed upou, and the witness saw the two
go up stairs together. LOlrrence left the base in
the el eniti;,, about seven o'clock, and was not aeon
there until .scirte time ou Tuesday afternoon it hen
arr.,ted he was found in a den of thieve& in Sixth
Ott eel, below Lombard The accused was commit
test to answer
Arreqed.—Two oleo, John Miller, of New
York, and Francis Cosfehlt, of this city, bid a
heAring before Alderman Enen Tuesday afternoon.
etorged with being concerned in the robbery sf
the store of Messrs. L d. B. Curtis in Chestnut
street Miller was arrested In New York city.
Co reldt is a toolmaker by trade. and one of the
most skilful in the country The only witness ex
amined at the hearing, wxs Mr The! 'Min, who
resides at No. 121 south zlecond street. Mr. H.
deposed, that on the night or the robbery a car
riage was driven to the door of the plundered pre
mises, and rerusined there for two hears and a
half. The carriage contained two persons, one of
them, he felt assured—but would net swear to his
identity—was the accused, John Miller. The Al
derman thought it advisable to hold both of the
accused for further bearing. L C. Cassiasy ap
pe Iced for the prisoners, and District Attoraes
Mann for the Commonwealth
Sale of o f Rents.—Janles A. Freeman,
Aueli..nter =old the following ground real,
tt.e Philadelphia Exchange
)c tri) ground rent ei eigbteet. 'cat cf
a lot s)ath aide of Plume street, IS by 90 tee: at
A yearly ground rent of eighteen dollars out
of a lot ',crib side of Plume street. 13 by 90 feet
at $225
A yearly groin,' rent of twenty dollars out of
a lot Second above Franklin street, it $2.20.
Democratic Meeting, large and spirited in
character, was held last night at Tenth street and
Paasyank: The resolutions were admirable, the
speeches eloquent, and the 'proceedings throughout.
by somebody, who pretends to know all about it,
that the following is a sure remedy for the felon
" Take a pint of common sait soap, and Stir it in
air-slacked lime till it is of the consistency of gla
zier's putty. Make a leather thimble, fill it with
this composition, and insert the finger therein.
and change the composition once in twenty mi
nutes, and a cure is certain." We happen to know
that the above is a certain remedy, and recom- 1
mend it to any one who may be troubled with that
disagreeable aihnent.—Balitto Advocate.