:;p t' FRIDAY; OCTOBER 9, 1857. Dl' On our First rage will be found edito rials on The New• Religious 'Feuds in Ireland, Our Judicial;Candidate, and Mr. Gansa.Ps Eli gibility; Reports of yesterday's proceedings in the different Law Courts ;, and General News. THE, EFFECTS OF THE PRESENT TA. RIFF POLIO: -The greatest calamity that could befall the business interests of this country, after that which has overwhelmed them, would be the introduction Into the remedies for present suf fering of exploded theories in political econo my. The sttempt to charge our present diffi culties upon the tariff policy of the Government is a case in, point. Aiming, 'Criaetices of this attempt, take the following paragraph from a late article in the Philadelphia North .dmerican : 4 , The opening outof railroads all over the Union gave employment to our mines and mills, and thus temporarily averted a calamity which, meat, haie visited them but for that tbrtunate resOUrce. Yet during the ten years beginning with 147, when the present tariff went into operatien, and down to the report of Secretary Guthrie last winter, over two hundred millions of dollars of the manufac toms of iron and steel had been impoited into the Visited States, paid for by the bonds- which are now pressing us, and' in part by the gold which is in the vaults of the Bank of England.'' Suppose that iron and steel had been nianefaCtured t heme, as it might have been,if the tariff of 1842 or the principle of it had' continued, doss not every one' see that so'MuCh wealth' would have been added' to the productive industry, of the country, and an important branch of manu facturing advanced to a'. - condition in dependence, by' : which iron would' hive 'leen nbeapened? More Mai diinlalf ot,the , British jails imported havainried out imPerNot,,thiMaild ire vastly, to the *original mist at the amuse of our pockets. All of a sudden a oheekis given, to these enterprise by a monetary stringency, and the firm abets are a compulsory stumensiou of Work at the mines and mills, and the turning out' ettliousands of men pet at the &Hansel' of winter. ,What is true of iron is also true of the woollen, cotton, and ether numufactures. So long all 'Money was ok: tamable at any cost, they wire willing to "go :on. Now that eentraotions have come, they are &e -pelled to stop. : This, is the inevitable consequence of an erroneous policy, and would haVe happened, whether the gold of California bad been discovered or not." We must recall to the recollection •of Our, cotemporaty one or two facts that seem to "have escaped. him. No part of the manufac turhig interest has professed more Satisfaction with the exiethig duty,upon iron than the mann lecturers of iron themselves: This has been the basis of their constant appeals to Congress for the last Ave or six years; 'and eo fairly Wits this appeal made that it was supported by. 4 large iturnher of Democrats; especially a:gall:nit the' . efforts to repeal the dation refit:out iron o f the Western and New England Representatives, (who, be it, remeMberedk , lain, T two on greepes, were 'mostly, membere of the Repuhli-, can party.) Thus much for, the political as. pect; nowfor a fact still more pertinent. The North ..dneriean says that, ccsappesing iron and steel had been manufactured• at home, as it might have been, if the twig . of 1842 .or the principle of it had eonthmed, 'demi net 'every one see that so much wealth would :have been added to the productive industry of the coun try, and - au important branch of manufacturing . advanced to a condition Of independence,, by which iron would have been eheapenedp , The North 4 merican does not say direollY thetthe United States Manufeetnrere eonld , have ; sup- plied the enormous . demands .1 of the ,railroad companies for railroad Iron, but this . evidently felts . We Assert, and, app eal to the impartial judgment of any: manufacturer of railroad Won in this State in supMirt blithe de claration, that even ittrar Manuftichiturs could haVe made this railnied was not - money enough in the 'United States' to pay Amu' tot' It; and they, not exist 'upon credit. 'The London Times, of Septem ber 10; explains. to us the_prodess..by - rwhich railroad iron was purchased shimuir 3 AnYlipi,ioVable member of IcetuPtese or As sembiy, coming over to England; kint,oalito make a demand large enough, and , he Oonidget'ailhe wanted. Re would go to a leadinelfon-malar, :give a heavy order for ,ialls; peiji ',bleed thirty, or ferry per, rev : above their value, -and trust to ;this gendstruiri for the dispeeeOlci;euelOrehrs and others tempted by a nidler'pes eentage of .eueli, amount of stocks and bond's; as Might be' deemed appropriate for the Moment. , The next and eaelv entieeeding year the ' proceas might, of ' , course, repeated, since 'the prosperity of the' -part already, constreoted, rendered eatemdons of all kinds indispensable., Bptit was toleve beeni supposed that experience dearly purohased moat& • at length lowa generated some: prudence:: Ap) parently, however, our, people are incurable. The last railway concern that has broken down is the Miohigan Southern, and it is said that only a few . ; months have 'eliPsed 'alio° . the President paid visit . ,to the English stockbolders,, and induced them considerably to extend their commitmente,,", 'What world have been the condition of our mannfacturera ofrailr oad , Iron, hid they granted the' credit 'which the railroad companies tained in Europe? the first place,: they, could- not have 'granted it because 'offthe sense 'of capital; and,tu the fnert plaee, had they done so, the calamities under which thin country suffers at present would hare been nothing to . the, catiL*PPlleAkal.:Fin4. overtaken almost every Mock:, of industry with suss 'a' weight of iinprodtipthie and um available securities in theilinulsor ;oar capital; ' lit. We leave out of , this view the , question; whether our manufacturers Could have . ' madli ' as mrieh'iron as wast.etitired'iktliii,:rallroads± The piain'fin,t is; the Present:Mike • is the Qff? , -spring of that railroad Mania, that Wild advert+ turn, in the purchase of Western lands;that ex ; ' trsviiginei in all kirids Of bitildiligi;Which; combined, exhausted the precious, metals of - lbel.tiantic - section of-the country', abiorlied ,Criidit; caused our banks to:psi:laud oil; Merchants to ,extor4 their, operetiene , ;-a series of events before which no nation could pave maintained 'Melt ' This, it rif ilte - in' is the erdetinn 011ie trouble, as it must occur to every faimnindeti maw - • , WESTERN FARMERS' IMPOLIVV,, Tb! °O°ll#lati Pas. ',a' a n d vrell-timed article on the important: question of fiermerit;holding oh `, their:' . liroditee, and pithily ae 'Wflf ft ',pay t ::,jt,40410 . 14,:ns .inatter_of undoubted fact, that the?fainuara are so bolding onto their grain, in,,thelhmlet *ter prioei, and adds ' 4 "Thin, of Doane; has the tendenoy to prevent the oonntry merchants from defraying hie -thrrerhelearde deride from wirordhe pnielieses, th'e Uttar beeomeirinailtent, and. is " enable to m eet hiP and thug 'the entire, ineetLinerknf,tr43 bemuse_ diairringed, tied hoittitatiihddiatiete nue* iu iriery departmeat.l! If-ffreaera think that, 'Pliesuallk great harvest, not, only here but all . over the world, 'they ate , , obtain' stitY. thh Flom they got when the yield,ws# either par tial, or a failure, they are , greatly mistaken. Plenty brings down' litiCetl, and the idea 'of bolding up in the hope of getting bigh"rates by and by, rather than obtain fair rates now, is absurd. ' , err the ;agrieulturat interestrwere oat 4 - 01" debt, they might,. pursue &hi suicidal "policy, if it so. pleased them.: But theY, lie under a heavy accumulation of debt, and were allowed all grace as, to" the , payment; in the hops that the harvetivotl4l4iPif; the means of liquidation., The Cincinnati Times, noticing the *Feet co time holding back 'oti the wholdialeltade o the West, saya "While we know how fruitless it may be to pro pose a remedy, we will submit that the 'remedy **stably lies in the 'bands of the merehinti them selves. She season is no at band when the ml ti" dealer must 'renew his' stook, sod itwithout funds, he must perdue were he has formed:* dealt. When heptesentshimselfat thenstablishment of our wholesale te erehent, lot him be given to understand that a fair proportion 'of his fernier lidebbidners must be paid ; that it is not a Matter of chotop but of necsmity with his or editnr that this sbould,he done, and that under • such circumstances they wtll,be happy to •continue , the commercial' relationship 'formerly between Ahem.' This *should be 4Coom ,liissid movement;`one , entered' into for !inniusl benefit, and faithfally eahOrealo." * , The holders of grain' knew,Ao a nicety, so -„ closely may the caldelaWal be madri . ,:tho exact amount of grain which required' in Europe—radditional to, the quantity :supplied tip the abundant harireat; of tllikautMm. As — we have'tdready shown, -the :supply. will be e7iolusively reqiiired. by tngbinci 'end leay =be estimated- at. 9,000,009 4i:tenors, of wheat, 12,6:10,000 quartet of mini, and ti,600,01)(1 qua:dein of barley,--;estinnite: thcao ,reapontively ' et ` thirty; aliteen; , ui' ; twernty Aldliings a -quartwi and ~tho • Tatan will i bn deducting a'-`2air diannuni for'the probable chance of a groat fhll in prices next spring and summer, if there be symptoms of another good European hermit, and, wo may put £2o,ooo,ooo—equal in round numbing to sloo,ooo,ooo—as the amount Which' England may require in the next-nine iimonths. It la the fault—we had nearly xaid,tho crime- - of our farmers, if this amount, or the - groatCr pait of it, does not come into this country. And in gold, too, for, our stocks from abroad are so heavy that we cannot import much more, and must have_cash. .„ If corn=growers or corn-dealers think that England must have grain from'abroad, they are ' greatly mistaken. England always has a much larger quantity'of grain on hand than she ac tually,requires, for she has long been in the habit of having a large stock 'Of grain before the harvest—on the chance of a failure of her crops. That stock, from the produce of 1856, is so heavy now that it will constitute the main consumption of the remaining three months of 1867. If' prices, range high on this side of the water, England, rather than pay them, can run, the not very heavy risk at keeping the stock of grain low until the and of the harvest of 1868. She will do it, too, if pushed to it. took at the present prices of grain in Liver pool and in New York. By the last quota tions, wheat has selling at a dollar and a half per quarter lower than it is now selling for in New York.' This This fact alone is enough to show the falla cy and folly of dreaming of holding on to grain here, on the remote and visionary hope of getting famine.prices by and bye, in times of unusual cheapness and abundance, in for eign countries. No—farther:B must submit to lower prices, and they can afford to do, so, so vast is the yield of grain with which bounteous Nature has liberally gifted that. RAS LVCKNOW FAIMEN.I It is stated, in a New York -paper, in a ,Calcutta letter ofAugust 10, that "Lucknow, the capital city of Oude, has fallen; all the :Buropeans.have bean massacred by Nenajee Sahib ; 'and the relief force' under General Havelock haie been obliged to fall back upon Cawnpore, terribly decimated by the cholera." And, it is added by the special letter-writer who communicates this' news, that it arrived from the interior on the Saturday previous, but was kept back ftoin the newspapers and - the public by 'the Government. That is, it reached 'Calcutta ori Saturday, , August 8, and was kept back until after the overland mail had left. ,flut if the letter-writer Was able to send off his missive by the after packet, which would overtake . the ~mail-steaniero off Sanger Is land, Lord CANNING would also have been able to mite to the British Ministry. If his Lordship had such a chance and missed it, he failed to perform his duty.. If he did write, 'the British Ministry must have 'given imme diate publicity to the news, however disastrous. Thoy did no such thing—most probably be cause they never received - finch intelligence. We wholly discredit this dreadihlly exclusive news from India. If We might venture a comparison, it is riot much unlike the cele brated Victory of Sleevegammon, with which another New. York journal startled the United States'in 1848, ' ' , PUBLIC AMUSEMENTS "Camille" :Was last night repeated to a very crowded houea,at Wheatley's Arch-street Theatre. Mr. Davenport Is 'not seen as advantageously as usual in the character, of Armand. The' only really good point he made was at the close of the seemul:aot, where he showers down bank-notes on Camille. Mee. Thayer was lively Without, as Mr. J. S. Clarke was with exaggeration. Mrs. Hewers perforated the part of Camille with won drone delioacy, tinth; and power. She was ex quisitely costumed: ' Mr. and 'Miss' ltichinge are playing at the Walnut street Theatre. This evening they ap pear in the play or‘Tashion." Mr. Murdoch takes his benefit, and closes hie engagement at the National Theatre, this evening, playing Beverly in " the' Gamester," and Duke Aranza, in " the Honey Moon." in both pieees he will be supported by Mrs. Hudson Kirby; and Mr. H. Watkins, an auther-actor gieat - and versaiili ty, will take the part of Jacques, the Moak puke. At the ioadenaY,Of Mosta, this evening, Doni tetti's opera, "L'Elisir :D'Amore," . will be pro duced, for the first time this eettson. Signor Tag liotico; thabasso singer, Wilt vitae his debut before an - Amerlean' audience: The 'cast also includes Madame fi t assanige,Sigitora Tagliefico tiad Signor Prigneil. = - I,S THE LATEST NEWS BY TELEGRAPH. Financial Affta - • OBISIS Now Vona, Oct: B.—The pressure lathe money mar bet-has been lutende,and the &Urea announced this' morning were "follow ed'-by the eutplualon of Messrs. Bowen, McNamee, to C 0.,. while seventlathers followed. The day closed my gloomy, and there are wad fore bodings for the future., . - The Central Bank of Brooklyn is discredited. The sheriff, this morning, seised the books end wipers, of the Milwaukee and mississippi Railroad, in this city,, at the instance of theldilwaokee Bank. Fallaire at , Aletatidrla, Va. . ALEXANDRIA; Va., Oct. Fowle, Suowdeo, & Co., a large banking-house of this city, have sus vended, The long-eitablished mercantile firm of Ponta& Co. are in no way connected with the above finn. , Failure at Cleveland, 0. Ott:vitas:o, October 8. 7 4. Morrison, broker, of this city, failed to-day. Meeting at'Hatrieblig in ram* of a Relief Law. Itaaetaiosio, October 9.—A. largo meeting was held at the court house. to-ulght, Ex-Governor Porter pre. siding. Resolutions (were adopted, ening upon the Le. &Mature the passage of a relief law. Messrs. Roberts, or Pittsburg, McMichael, of Philadelphia, and Pemsen, of Harrisburg, spoke ably in favor of the movement, .The meeting le regarded by those In favor of Socha law as a powerful,demonstration, „ From lifskusair-IP,rogres of fhe Election. Sc. Lootti 3 Oct.B.*A. gentleman who felt Leavenworth, anuis, , ,m Monday at noon (the der of the election > ) nave the eleetlon.was proceeding very Slowly. The frees State men had complete, possession of the polls, and were casting all the votes. If the entire vote was not polled on Monday, the election would be continued on Tneeday: , _, • _ , • At Delaware, the .freasState men h ad Also control of the polls. It wan conceded that Mr. Parrott, the free. f3tate candbisfe for Congress, would have- a majority over Mr. Itapeon, his competitor. NO disturbance had occurred up to'i2oon. Partial returns of the election may be expected thla evening. • - . „ Later from Kriusap. Br. I-Mits. October B—Evening —The steamer St. Mary, [rem Leavenworth, arrived at Boonville to-night, The oilleers'report that when they left; en Tuesday morning, the'returnareceived placed Mr. Ransom ahead of Mr. Parrott, the freeDtste candidate for Congress; and that the Democrats were.celebrating their success. ar. Loves, October 8-10 o'clock P. M.—Later advices ,state that tie Republicans were two hundred ahead at Leavenworth, and the Democrats three hundred ahead 'at Wyandotte - The intproselou prevailed that Mr. Parrott was elected - to 'Congress, and that the Demo= crate would hate a Majority in the Legislature.' Earthquake in Missouri and Illinois Br. Louts, October B.—A violent shock of earthquake occurred-here about four,otelock this. morning, and about seven minutes later another shook was felt, which WU, however, less 'severe, ; They were ancorapsoled by a deep and, heavy rumbling, making the most substan tial buildings tremble, and_Overtumaing small article's 'firth& divellingoof nur citizens.' ' The earthquake extendetlo" Springfield, 'where the shocks were felt distinctly. ' - GENT/ULU, niitiOhli October B.—Abls morning, be t Ween four sod Orel o'clock, three distinct shocks of ,earthquake were felt,here, at Intervale of about eve minutes between them. „The first shock was so violent that several chimneys Were • demolished, and our citi zone were monied teem, their slunibers, and much plstmed'hy ; the unusualocenreence:' ' • - 'Neer!firlsitis llinirey'Harket. NNW OnizAtts, Oett 8.•.:-Ifointy`:coAttiniei tight. grit. elaiS pethirleing worth *Mad dr cent, a month. No fillures of consequence have yet odeerred. There le rib money for'exchange, and no movententis possible, until sterling can bring cash In New Yoe*, but banks are ex tarding every faelllty , to factors. • All departments of business is cheerful ; ,Freights are it a stand. Stetnnitdp' Tennessmee Nsw OsLustre, Oct, B.—The steamship Tennessee, 'which sailed from New . York lately, supposed to be bound on a filibustering expedition, bas arrived at this 'port: She is advertised to run to Vera Oruz. Resulting Murder near Pittsburgh. Pitrinmair, Oct. 8,--A revolting murder was com mitted near this city last night. Three persons entered the, hones of an aged, German, .named Wiseman, who lived with his daughter in a seckide4 opt op Zest Liber ty, road„ Pittsburgh. Pittsburgh. Their object is supposed to have been to cirdunit a rape ou tbe dingliter. The lat ter wee the first to discover their entraisee into the house. Mr. Wiseman, while protecting her, received several blown with a heavy iron bar on the head, frac turingbis skull. Ile died shortly after, , Three men were arrested to-day, on suspiclou of being the perpetrators of the murderous deed.. Their mimeo are lamee l elly, John Richards, and Daniel 'Denny. Tho circumstances strongly implicate them. ' ; Arxtvat of Alm Niagara at Boston.. Bonus f October 8 —The Royal Mel Stemphip Niaga ra, from - Liverpool via Halifax, icith the malls, to the Rath ultimo will slain at her wharf at 10 o'clock 'to -BEOOIIO bIiSPATOIt. linwrox, OctoborB-1 1 :1' o'clock —The Niagara to de. tabled below by the ebb tide. She Will probably come op of midnight. ' ' " ' i s "sienna. The nears AISOULITA Ont. 8.-4 he returns' from the Eighth eon iremional 'Markt 'live A. H.' EtePbello, the Demo" crane candidata, drnafority of 1,261,- In the Mill die; triet, 'James I,nokson, Democrat, is certginly elected, i!1.9 maJority being et least 1,000. . • . • ithileoad Aindent. 4 nopii"..2 N. 0 0. tocanwtive 'On the Nevi -York ilia rteurOad rim off the track this Morbingf 'when near this city. Brien .passengars 'were setlollll9 The train 'was heavtly loaded svith visitars to the State Bair. Niqerson wee killed, - - ' _ Vermont Legislature. Monw eeee, Vt. October B.—The Legielature or tine State coeval/ad to-day. George F. 'Edmunds of Bur hogtoa,,was cheqen gpeeker Of the The Qo vereor's menage be received to-morrow. United States Senates, trots Tennessee. htssErvitte, October 8 —Andre* Johnson-bas boon elected es succeseol , to Eon, d. 0. lanes, in tite United States henato. . Alarkp . 4pyli4egtaph. . . , . Now °ammo, 00,7,—pottom—Eialos to-day s 2,600 .141e5. , gslees are irrogulai; Vim tooted at AS 90, Cora has p deelining,taidepay: Red heat,,quotl4,st. ;MO.' Allied Corn 'No.' Urd bbls 7Mo; • 1 • FROM iIiiRRISBURG. The Special Session of the Legislature THIRD DAY'S PROCEEDINGS RO,ll Otri SVEUIAL RL•'PORTERB (Exclusive Corrempoudence of do Prom.] HARRISBURG, October 8, 1357 The Senate met at 10 o'clock A. M. The Journal of yesterday was read and approved. The Clerk of the House presented a Joint resolution relative to the exhibits of the several banks of this Com monwealth, passed by that body, for the concurrence of the Senate: - - - Mr. Weiser presented the proceedings of a meeting held in the cit of Philadelphia, which ows the grounds assumed y by these who favored the issuance or relief notes and shinplasters; which were read, and then referred to the select committee. The SPRACER laid before the Senate a communication from the State Treasurer in reply to the resolution of the Senate of yesterday, calling on him for certain in formation with reference to State funds. It recapitu lates as follows : Amount deposited with banks, saving insti tutions, &c $308,179.38 Bank notes 31,485.00 Chock—J. IC Baum, collector of tolls—de posited in bank Oct. 7 1,700.13 Relief notes 22,514.00 Coin 817.30 Depreciated batik notes " ' ' 1,079.00 Payments on account of appropriations made to public officers, &c , for which • receipts are held,' to be hereafter set. tied in general account 20,435.42 Coupons 6,275.00 Paymonta made since Ist instant . 53,170.28 On motion of Mr. WRIGHT, the communication was laid upon the table, and ono thousand mare copies were ordered to be printed for the use of the Sedate. Mr. BROWNS presented the memorial of merchants, manufacturers, and mechanics, and other business men of Philadelphia that thebanhs be protected against the penalties of their suspension of sPecie payments; which Was referred to the seleet committee on the subject. Mr. FLINNIICEN read in place a joint resolution for the payment of printing for the late Revenue, Commis- Menem which was referred to the Comm:ttce ou Fi- Dane°. Erections STR/118 reported back from the Committee on Elections„a Donee bill relative to a place for holding electioni id Scranton ; which was laid over for future consideration. Mr. lisox presepted petitions from Montgomery coun ty, relative to the present crisis ; which were referred to the select committee. 'The Senate restarted the consideration Of the bill re• ported from the select committee on yesterday. Mr. WlllOl{T moved to strike out these words: 4, dnd this act shall extend also to all banks, saving, and trust hasarance companies and corporations with banking pri vileges, chartered or re-chartered under any law for pe riods hereaftet to commends, and , to the payment of stock to all banks ineorpo!ated by the Legislature at its last :Maslen." Mr. Sonata stated that the amendment would place the banks chartered lest winter in a condition entirely different from older banks. The latter are allowed to go on without a specie basis, while the former are not allowed to go into. operation because they cannot pro vide a specie basis. The gentleman from Philadelphia stated that the general banking tempt 1850 required subscriptions for bank stock to be paid in specie, and In that statement ,the gentleman if mistaken. • , Mr. WRIGHT made no such statement. ?dr. SOOTHES would vote against the bill if the amend ment were adopted, He meant to protect the country as well as the cities. Mr. Wizarria presumed that the object of the amend meat was to destroy the banks chartered at the last ses sion of the Legislature. Mr. Warm stated that such was not his object. If be could do that he would be glad, but such was not his design. His object was to prevent those banks from going into ealetence. during MO period of suspension, in the event" of the passage of the pending bill. He de faced to prevent them front commencing the banking business on a paper basis. His amendment would not affect their charters. They would begin when specie payments were resumed. Mr. Mumma said that the gentleman did not mean to wipe out the charters, but he meant to throw those charterb in a condition , of abeyance. Why pot give them the opportunity in the interim to go into opera tion? Why throw them for months into a' state of inactivity? If they go into operation it must be on a specie basis. They, have a lesson before their eyes in the present monetary embarrassment which they will not disregard. , They must start on a ba sis of coin, and coin alone. Give them the ad vantage of their charters. Some of the banks which went into operation under the law of last winter, pay specie, while older Institutions have suspended, The amendment, ih his ;opinion, would defeat the.bill, If It were agreed to, No distinetiqu should be made between the ola end new banks.' In their charters they have vested rights, of which they should not be deprived. Mr. Warm said that he had been misapprehended to his remarks and in hie amendment. His amendment did not affect the Allegheny Oity Bank and the Citizens' D et. eposit Dank of Allegheny, but only those not organized y ' Mr. GAZZAPAI differed from his colleague, Mr. Wilkins, not because of the weight of the representations from the city, but because be believed the gentleman from the city (Mr. Wright) was right, If these new banks go Into operation It must be on an irredeemable paper currency. This Is their misfortune, not to be able to go Into operation on a sounder basis of smocks paid into their vaults. .This tegislature is not accountable for this condition of things, but the monetary crisis in the country. Jus. tree, not oniy'to the banks in existence now, but to bank-noteholders, stockholders, and all parties doing business with the banks, demands that there shalt not be created any more paper money, to be thrown into cir eniation,,,, He was in favor otthe bill generelly ; he de sired the relief of the community. Mr. Tantlitim said that some of the banks, chartered lent winter, had paid into their vaults a portion of the amount of their stock; seine of them had received a large rmrtion of their capital stock. If they are not to have the privilege to receive the remainder, what hes been paid in will be tied up until after the present sus penaion--one, two, or tbrbe years hence. Mr. Kiturrothwould state that If this bill were for city bankS atone; he was against It. Those effete banks of PhiltdeiPbre Were first to suspend: The amendment was rx 1 ,03 Vita° and cowardly in its character. They wend ail in one boat, and' if one was thrown over, all ahould Oak, If we foknot Oonwhtetod, they .4thal), not have anything. Mr. Oat/in wantodto know who they meant? Mr. KiMatteneit moil the city Was, If the gentle. man Mr. Oaken was opposed to the bill. , I Ur, Ettuthasa th ought that was a responsibility for the gentleman. Mr.-Casse.wouldtakelt. Mr. MUMMER believed that :inlets conservative men stood by the paragraph proposed to be stricken out, there would be danger fa the bill. Mr. WRIGHT did not want to include in his proposition banks rechartered btu:twit:ter. lle only desired to pre vent from going into operation banks not yet organised. lie moved, in addition to his amendment, to Insert this proviso : uProvided, That the provisions of this art shall not apply to banks, saving Institutions, insurance 'or loan companies, or other corporations not already organised." The yeas sod nays were required by Mr. WIIIOIIT and Mr..sol7lmari, and were all fellows, Sin; YEAS—Megan,. Brewer, Browne, Ely, Evans, Fetter, (lesson), Ingram, Knox, Steele, Walton, Welsh, Wright —l2. NAYS—Messrs. Poffey, Crabb, Ormumell, Flenniken, Frazer Gregg, Harris, Jordan, &Slinger, Laubach, Locale,Slyer, Schofield, Sellers, Shuman, Souther, Straub, Taggart, Wilkins, Finney, (Speaker)-20. So the amendment was rejected. Mr. Witxtue would have the assurance, after what seemed to be the determination of the Semite on the subject, to move to 'extend the time of suspension until the 4th day of 7uly, ISIS, Instead of the first Monday of February, 1868, as axed in the bill now. Ito was em boldened todo thialy the tie vote on the motion to extend until the fourth Monday of March, 180. He wished the resuinptlon of specie payments to Mire place on the 4th of 'duly, that glorious day of our redemption limns foreign thraldom. He wished that day to be the day of. Pennsylvania's redemption from disgrace and dishonor,' brought upon her by the conduct of the banks. Mr. WRIGHT stated that 4th of7nly was not a banking day, Mr. Wfurins modified his amendment so that it would' read, lot of jells 'lB6B. - Ills object wee not to relieve , the banks, but the laboring cansmunity. Ifs, stood not: up for the banks; no—be had lett his hom with deep indignation against the banks, because of the din-: grace; and dishonor they . had ,brought upon the State.' At this Extra Session they could not break asunder; their connection with the.banking system. The evil is here, and it must be taken as It is. This is no time in' which gentlemen can talk of Sged principles on banking, .currency and cattliViget . They were nat to establish the system now. Enough had been done for the hanks-- more than he would have asked forthem. Had he consul ted his own feelings,he should hare named an earlier day for resumption; but it was for us to look a little farther,' and consider w h at was the Interest of the great mass of the people. Seriat,ors bad shown a willingness to grant favor to the • banks, and he would now call upon they to go; a little farther and do something for tine people, epd especially the laboring class. 'The banks had the abilify Within themselveitheir means were mainly contained In their ;vaults, or, at least, could soon be made convertible, if they saw pro per in to do ;• butwhere were the abilities and resources of the people—of the merchants. whose means were in the hands of their customers, scattered all over the country, and It would require a much longer time for men of bustnem colle4t their abilities? All that was wanted, however, Was time. God had overflowed the land with his bounty, ,and all that be , claimed was aufn dent time for the country to avail Itself of *age pro ' spective advantage, • ' " Especially wig this delay necessary for the men of the Western part of the State, where their products were usually of that cumbrous character that could not be got to market by railroad speed. Ile was willing to restrain the batiks, and, no far as he conid, to correct the system. He thought It was particularly important that the day specidg for resumption should be at a time when the Legislature was not in session • Mr. Wain= differed from the Senator from Allegheny. He thought the time bad arrived to let the banking sys tem wind Itself tip in its own way. It bad now virtually exploded; sod why:try to defend what .experierme had taught us was !nogg tbrOligbeut? Relief be wee witliPif 'to grant; but be thought we should not go on any furtiter.in tits Mann beaten *nick, but rather suggest some new. wholesome remedy. As to the prolongation of time asked for; it Was, he thought, beyond the power of the Legtslilhare do gnat. , ' •, • •,, Mr. Queen said the causes alining an' one financial embarrassments weed not sudden,bpt.had been gredua ly colinippupoa wilbrougtk a period of years, and he thought it could forlhat reason not be remedied in day. Here he recounted the historical facts of the ees pension of 1837. The banks, he said, could not, be compelled to do s thing which was not in their power. • If it took live years fren ISM to 1831, fora complete resumption in that 'crisis, he thought It was folly to ex pect that it could be accomplished now in half as many months. The spirit of railroad and land speculation bad, doubtless, brought about the effect now much to be deplored. lied corporations been restraind from de , Glaring enticing ami'etimulating dividends, he thought, much of these liblionities might have been averted The yeas and nays were required by gr. WRIGHT and Mr. Wthains; and were as fellows, vls : lase—Messrs. Coffey, OnthbFrazer, Gattam, Gregg, Harris, Jordan. %Winger, Lew is,l &Akre, Souther, Tag gart, Wilkins, Jimmy, (Speaker)-14. NAYl3—Mewls. Ernmar, Browne, Cromwell, Ely, Evans, Fetter, Fletilkea, Ingram, Eno*, Limbach, Myer, Scofield, Shuman, Steele, Strunk, Walton, Welsh, Wright—lL „ So the amendment was rejected. • Mr. Corium moved to strike out the first section of the bill, and to insert in its steed, the bill of the com mittee, with the words, • " Second Monday of January. 1899,' , in place of " First Monday of Febrintry, 1890. , and the following proviso added: ~ Provided, That Ili banks, Saving, trust, and in surance comrade, or corporations, having banking privileges affected by the provisions of this act, be, and they are hereby, authorized to charge at the rate of seven per centom per annum on an loans or discounts Of every kind whatsoever which they shall hereafter make, and they shall pay into the Treasury of the State ono per cobbles per annum of the proseede of all loans or discount!, which they than hereafter make, Which payment shall be made quarterly le cub, or in the stocks of this Commonwealth at par Promdedfurther, That the stipaletions of the foregoing proviso shall be of force and effect until the whelp of the present M. debtedness of the Commonwealth is paid end no longer; and the payment or the mid indebtedness •of the Com monwealth 41441 be aacerteined and tired by the pro. detention of the Ooveropr In a manner now provided by the fourth motion of the act approved lOtt, day of April, 4. D. 1849, entitled 'Au act to meats a sinking fond.' " :Said:that we were la the midst of a greet finsAtial Alt the interests of the Commonwealth are in a stile depieision. ' The people are bound up with the ' banks: ' tells a one and you relieve the other; and, un less this relief bo stinted, ruin would stare everybody throughout the State in the fact. The present condi- Cob of Ogre was brought about by the tariff imposed on the people for th e interests of the South.' They owed Favors aotas llve hundred millions of dollars, caused by the importation of necessaries and luxuries, which ought to be provided in a home market. To pay this debt-the go ld of California and the substantial money of the country went abrued. Me would net assail bay party • They were here to legislate, not for the becks, butter the relief of the people. If the ,fact stares the banks in' the fees that, on the first Monday of next Fehrtua l they mud resume ape* payment or forfeit their char ters, they would contract more than they ha's* done. The time ought tii - be•xtertited. He bid been told that THE PRESB.-I ) IIILAIAti i iIIA, FRIDAY, tat'rOnEß 9, 1857. bullion; men of Philadelphia owed the bunko thirty milliona of dollars. . • • If the banks are forced to call that in by fixing the expiration of the suspension in February next, ruin must bo the result. Eis sae a rural constituency, and would feel the consequent embarrassment as much as the people of the city, 'With the city representatives was the responsibility. The proviso he proposed, he believed, sprawl to tho Judgment and good sense of Senators. It in UreS neither the banks nor their customers, and the S to is bone. fited. Mr. Caton moved to emend, by striking out the Bret section of the amendment, and in lieu of it, inserting a provision legalizing the suspension of specie payments up to the 24 Monday of January. 1850. Mr. CLODS expressed himself satisfied. then submitted an amendment as a substitute for the first sec tion, legalizing the suspension of specie payments, and fixing the day for resumption on the second Monday of January, 1859, but subsequently withdrew it, giving notice that he would renew It. Mr. COMY'S amendment was rejected—yeas 20, nays 22. Mr. Mrss submitted an amendment authorizing the banks to pay out tho notes of speele-paylng banks of other States of not loss than five dollars. Mr. Ilsowzra opposed tho motion, and Mr. &minx supported it. The vote was taken, when it was nortived—yeas n, nays 12. Adjourned till 3 o'clock this afternoon APTEILNOON 1368810 N. The Senate met again at 3 o'clock. The consideration of bill No. 1, reported by the select committee, was resumed. On motion, the vote on the first section was taken ; and it was negatived—yeas 15, nays 16. The following is the vote taken : rEAS—Messrs. Frazer, Gregg, Harris, Jordan, Blllin ger, Knox, Laubach, Lewis, Myer, Sellers, Souther, Taggart, Welch, Wilkins, and Finney (Speaker)-15. NlTS—Messre. Brewer, Browne, Oolfey, Oresswell, Ely . Evans, Fetter,Flenniken, Oaizam, Ingram, Sco field, Shuman, Steee, Straub, Walton, and Wright-16. Mr. 00VVICT moved to reconsider the vote. Agreed to —yeas 20, nays 12. The first section being again up, Mr. Mien moored to extend the suspension of specie payments by the banks to the accord Tuesday in April. The motion was lost by a tie vote—yeas 16, nays 16. Mr. Wnionr spoke against the section. Ile said the bill will do no good. The banks which had suspended specie payments had absolutely forfeited their charters, and they could not bo restored by an act of Assem bly. 6/5,261 61 Mr. DROWSE held a different opinion. Their charters were not forfeited till proper judicial proceedings were had. Mr. WILKINS and Mr. CansawaLL concurred in this view. A vote on the first section was again taken, and it was passed—yeas 18, nays 14. The vote stood as follows : YEAH—Weirs. Coffey, Orabb, Frazer. Garzam, Gregg, Harris. Jordan, Killinger, Knox, Laubach, Lewis, Myer, Sellers, Souther, Taggart, Welsh, Wilkins, and Finney Speaker—lS. Nays—Messrs. Brewer, Browne. Creswell, Ely, Evans, Better, Flenniken, Ingram, Scofield, Shuman, Steele, Straub. Walton, and Wright-14. The first section of the bill, as passed, fixes the date of resumption by the banks of specie payments on the first Monday in Fobruaty. 1858. The second section of the bill was also adopted. The third section was taken up. Pending the discus sion thereon, the Senate adjourned till 7 o'clock this evening. EVENING SESSION OF THE SENATE. The Senate met this evening, et 'I o'clock. The con eiderntion of Bill No. 1, reported by the select commit toe, was resumed. Section 3 pending, a disoussion took place between Messrs. Gazzatn, Ooffey, Jordan, Wilkins, Wright, Browne, Welsh, Taggart, and others. Mr. (lazzam moved to strike out the feature requiring all banks to receive each other's notes at par, and to insert the word "authorize." The motion was negatived, by a vote of 8 yeas to 24 Days. Several immaterial amendments wore adopted, and the section then passed—yeas 21, nays 10. Section 4 also paned. Mr. 11nowas submitted sections two and three of his proposed supplement to the act of April 18th, 1850, as section tire of the bill under consideration. • The section, as thus submitted, limits the bank divi dends to six per cent. per annum, clear of State taxes, until the bank shall have accumulated a reserve or con tingent fund, not less than twenty-five nor more than thirty per' ent. on the capital stock; and thereafter limits the dividends to nice per cent, per annum, clear of State taxes. All the earnings above nine per cent. to be paid into the State Treasury. It also requires said reserve or contingent fund, as a fund to be invested In State or United States loans, and deposited with the Auditor• General as an additional security to that now provided by law, for the redemption of the notes of said banks, and to be applied to that Purpose upon the failure of such bank. to redeem Its notes In gold and silver. The section was discussed at length, and was finally adopted—yeas 17, nays it. Mr BIWWNIC also submitted section fourth, from the same bill as section sixth of the bill under considera tion. This section prohibits banks, saving . funds and trust oompanies from dealing in, or purchasing bank notes at less than their par value. The section was carried—yeas 22, nays 8. Mr. BROWNS moved, as an amendment to section 7th, to prohibit the banks to issue notes of a leas denomina• tion than ton dollars. Negatived by a vote of 16 yeas to 10 nays. Mr. \Valour offered, as a new section, to prohibit banks to Issue notes of a lees denomination than twenty dollars. Negatived—yeas 5, nays 20 air. Humus offered, as a new section, to exempt property from levy on a sale or execution, to the amount of one thousand dollars, for one year. Negatived—yeas 9, nue 21. Mr. ensile offered, es a new section, to authorize banks desiring to close and wind up their affairs, under the not of 1822. Negatived—yeas 11, nays 18. The remaining 'motions were then adopted, and, on motion, the title was amended to read, "An act pro viding for the resumption of epoole payments by the banks, and for the relief of debtors." A motion 14140 made to amend the rulee t so as to put the bill on its third reading, but the motion was lost by a vote of you 18. nays 12—two-thirds being requited. Adjourned till 9 o'clock to-morrow morning. HOUBE OFREPUEBENT4TTVB. , The UOllllO met at 12 11. The journal of yesterday was reed and approved. 61110141. 00M0TTEZO. The Speaker announced the following u the committee of thirteen, to take Into corsiPtenttken the, Obsernoes tgessags • Blears. Poster, Ball, Longaket, Itainsty, rphilat, Thor Calhoun, gtavgnson; Widest, (Phllt9, igauffigan, Dow rdienkhas, Ester. '" CrOXWON10•7101(5, &o. The Speaker laid before the House the proteestings of the meeting of the eitisansof Philadelphia, relative to bank suspensions; which were referred to the Committee on Banks. . . • - WIOONSELLI2II presented two petitions from the eititens of Schuylkill county, praying for roller from the present embarrainments and repression of trade, which were referred to the Committee on Banks. 881.20 t tIOLVITICTX. Mr. Moms moved Olt the Speaker be authorized to appoint two additlonell tilembers of the select commit tee of thirteen. Tir. Nome opposed the motion. After 4 short discussion, during which the Speaker stated that the committee of thirteen hod been !se lected by tam sording to hie own judgment and that he bad not been approached or requested by any mem. ber to place him on that Committeethe luestiedi Was taken, cml the notion was pot agree'd fLII.A . DBLPAIA PlllOlOll. Mr. Tann presented the following petition from the merchants, &c., of Philadelphia ; which was read and referred to the committee of thirteen. To the Honorable Senate and House of Represents. tieel : "The undersigned merchants, manufacturers, me chanics, and other baldness men of the city of Phila delphia, in view of the great calamities, otheewite In evitable and irreparable, Impending over the most im portant industrial interests of the city and Common wealth, and which They believe can only be averted by enabling the baniia, In thin oriole, to extend adequate relief, respectfully request that the Legislature will take such action ea will protect these; institutions from the penalties to which they are now exposed." Deal, 111Bligaz & RveT Reles & Bell, R 11. Media,' Bloomingdale & nine, Bancroft, peaver fr. Co., Cibley, Holton &Woodruff, P J Patten & Co., Wright, Brothers & Co., Goff & Peterson, Jas. H. Thompson & Co., Pries, Perris & Co., 41. T. Lukens & Op., Joe. R. Stryker & Co., Jae. R Cs Oen& Co., Brisrhawk, Drinten,& Wleht, Clark', C adm us & Co., Wm. A, Droun & OP., J. W. Elibtsi & Boa, McCall& & liaise, gym, Olsghorn & CO., M. J. Croll & do., ' Tilliqghart & Dallield, Sleeper fc Yeager, fl,. M. iii i it, Truitt, Brothers & Co. Lorick., sld & Co., Wilkock, Miens 4 peak, Chaffers,hoot k Co., Dale, Ross & Withers, Whelan & Co., Gemmill & Creswell, Pratt & Reach, Curtis & Hand, 86m1. Blspham. & Sons, T. H. Perot & Co., Peter T. Wright & Co., Gillespie, Zeller & Co. Messrs. BIOHOP and Dona presented similar petitions, which received the cools reference, !gr. Litlepseteq ITO in place the (aliening lotut rOOO talon: Resolved, By the Senate and Itouse of Representa tives in General Assembly met, that whed this Legisla ture adjourne on Saturday the lOth Instant, it will ad journ to meet on Wednesday, the 4th Instant, at II o'clock. The question being on the reference of the resolution, Mr. LONOSKICR moved to suspend the rules in order to proceed to its consideration. Ire thought xis important question was nvolymt, which might BB }fail be es tied at the precept time as at qqy other. Dir /1111ITAND Rae oppoecd to the resolution. If there wee business tP keep them In sesaign eller Tuesday next, they could then determine tile question. It, vat waste of time to discuss it now. OALBOVN was of opinion that, when it became evident that they could . not finish what huslutuis they had to act open by Tuesday peat, it siould then be the proper time to tube up 4 resolation of this qhar uteri He thought it was impolitic to Consider it at the present time. The motion to suspend the rules wee not agreed to, sod the rreolution yips then , Isid uncle the table. Mr. alepaitcon moved that the finpee ito new, ad- Journ; which motion was not agreed to—yeas 32, nas 00. Mr. Iliesvaiso moved that the U 011413 proceed Id the' consideration al Ilouse bill entitled, An act relatife to the ausponsion of specie payments by the 'tumid Wads. Oommon'realth, and providing for the better pewit' , of note-holders. Mr.' TORN hoped the 'tfouge would' not pronesid to! consider what' they bad Just eppointed corumittee to Investigate. Mr. IdeCattioir thought they could consider the billi now, without waiting for a report from the, committee. If it not suit the viernier the members, they oonld' amend it and lick it into shape At all events, they: could compare ncdes, sad see whether they could ever agree upon anything : end they could not, bd.' tiered they would in the end discover, they could ad journ end go home. Ile felt dleppoecl to go home new. Mr. CILUOUN said that half 4 &hap bills bed 'already been read in place, any one of which was es much enti tled to the special consideration of the flow as that of Mr. Iliaarann'e. They had been sailed together for the plum*, of, de thing sense means of relief for the people apd tt,was proper they should fully investigate all thei meaettree tor Ole purpose , which bad Been submitted to them. The committee they had eppointedwould give the whole subject a patient and fair hearing, and when the House had received its repert, they would be able to act In telligibly. Ile trusted that the vrhple matter would be referred to the committee, and that the motion of the gentleman frpnt j.ancaeter wpuld not prevail. , Mr. Mollst.gosr said he should demand the yeas and nays on the question of. proceeding to the consideration of the hip, in order that it might be seen who wished to do business. Ile pould see no force in the reasons of the gentleman from An:entrees, (Mr, DA i t ilol7lo The ouse was better Ole to consider the e arteue propo sitions which had been submitted, then the epeeist com mittee of thirteen. lie had been too long in the Lees• lature to pay much regard to the reports of special committees, and there was no use in wasting time wait ing for a report from this end for, when It 4114 come, It would be found that the eighty remaining members each bad au opinion of his own, lie hoped they would din cues the bill, and eeevrhere they stood. lifr. nowt thought that the bill should take the same courts which the other" hod, sa it was not more entitled to the separate conelderation f4f the Moose. Tho'bill, to some ektotit, met his approbation; but, if every member's bill was to bo separately taken up god discussed, they could not, by any possibility, adjourn within the time proposes . Besides,. it was due to the Governor of the CoMmopwealth that the committee ap pointed for the purpose of reporting upon his messa g e should make their report before the Mouse proceeded o act upon the special business which, had called them together, Mr. Itiasraar , said that the Howe bed refused to ad journ; and as there was nothing before them, be hat proposed to take up this bill, in' order that they Mitt some progress the business which bad bran bt 'New here It need not In any Way Interfere With e• committee, who cohld go Oh and report nperi the whole subject, but he thought the Mottle had better exchange views in the meantime. Mr. HORS thought the Mouse wee net prepared to go into a dlecuseten of the subject. The member,' bad not yet had an opportunity of examining the various bills which had been introduced. and they had better adjourn, andgive the committee time 19 luyealli*, a and m, their report. preiers:Knionr .a Mooniest) also'oppdeed the mo tion to proceed to the consideration of the bill . The domend of Mr MoCaak9ST for the yeas and nays was seconded, and being taken, requited-leas 14, nays 16—as follows; Yitv—Mesers. Abrams, Brandt, Hamilton, Hlestand, (By Telegraph.] ADJOURNMIINT Housekeeper, Imbrie, Johnson, M'Calinont, Nicholson, Shaw, Sloan, Yall, Yanvoorhis, Wintrodo. NAYS—Memo. Andersonoirthur t Augustine, Babcock, Backus, Ball, Beck, Benson. Bishop, Bower. Brown, Calhoun, Campbell, Carty, Chme, Cleaver, Crawford, Book, Ent, Foster, Glbboney, (Hideo, Harper, Heins, Hill, Hilieges, fine, Hoffman, (Becks,) nines, Jacobs, Jenkins, Johns, Kerr, Huight, Lebo, Leisenring, Long aker, Lovett, Manear, M'llvalu, Moorhead, Mumma, Idusselman, Niehole, Nunnemacher, Pearson, Penrose, Paters, Pewnall, Purcell, Ramsey, (Philadelphia.) Ramsey (York.) Reamer, Reed, Roberta, Rupp, Smith, (Cambria,) Smith, (Centre,) Smith, (Luzerne,) Ste consort, Thorn, Tolan Vickers, Vooghley, Wagonsellor, Walter, Warner, Westbrook, Wharton, Witberow, Wright, Yearsley. Zimmerman. Getz, (Speaker.] So the question wee determined in the negative. Mr. BALL submitted the following resolution, leave being granted him for that purpose : Reseierif, That a committee of six be appointed by the Chair, with instructions to inquire into the Imme diate causes which have produced the present financial difficulties, and the remedies necessary to be applied for heir correction by the Legielature. He said that none of the committees which it was customary In parliamentary proceedings to originate in an exigency like the present, had been appointed, and that the House stood precisely as it did when It assem bled, at 12 o'clock on Tuesday. It might be proper that they should decide whether the Executive was justided in selling an extra session of the Legislature, and thus putting the Treasury to a very great expense ; and be sides, there were various matters which would not come under the consideration of the Select Committee of Thin. teen, which it would be within the province of this com mittee to consider and determine. Mr. 13, spoke at great length In support of his resolu Mon. After some further debate on the subject, by Messrs. KNIGHT, MUNSON, BILL, and BALL, the question was taken, and the resolution was agreed to The Maim appointed the following gentlemen to serve upon tho committee : Messrs. Ball, Calhoun, ros ter, Stevenson, Dock, and Knight. On motion, leave was granted, to the committee to sit during the sessions of the House. MT. LI