ft
1 .
HPECIE.-Wimagmo that thortdclift
7s"1" "amis to payr specie willJio
Of 8I10rt llltrnttnv. .. . 'S ..
jiuiKHfjr created. by
actof assembly would operate too so.vnrnW
on their profitable investments, by annulling
uuuners. 1 nc lollowing sections of
uic aci ot aotn Mansli, 1824, may bo inter
esting at this time to a majority 6f our rea
ders. Pttrtioh' &.J)igcst, pasc 1 10.-j
AnT. XVHI. The said banks shall not
at any tmrq suspend or refuse payment in
gold or silver, of any of their notes, bills,
"K"ons, nor 01 any moneys received,
upon deposite in the' said banks; and the
cashier of said banks respectively shall, when
received, givo a certificate of -the time and
amount of'everv such donositp.. in il. n nnr.
son who makes the samc,.or his, her. or
ineir legal representatives. And if any of
the said bariks shall
neglect to pay on demand, in gold or silver,?
any bill, note, or oblimitinn issnm! Uv Ciu.i,
bank, according to the contract, promise-,'-'
xir understandin.qr therein
neglect or refuse to pay on demand, gold''
or silver as aforesaid, anymonoys received"
in sucn bank on depdsite, except in the
case of special deposites where the contract
is different, to the person or persons enti
tled to receive the same, then, and in every
such case, the holder of such note, bill, or
obligation, or the person or persons enti
tled to demand and receive such moneys as
aforesaid, shall respectively bo entitled to
receive and recover interest on the said bills,
notes, obligations, or moneys, until the
same shall bo fully paid and satisfied, at
the rate of six per cent, per annum, from
the time of sncb, demand as aforesaid. And
it shall be the duty pf the president or cash
ier of the said several banks, and he is here
by required to make, at the time of demand
being made for the payment of any note,
billj or obligation, or any money deposited
as aforesaid, they payment of which in gold
or silver, shall have been refused, an in
dorsement on the said note, bill, obligation,
or certificate, setting forth die day and year
when the payment thereof was demanded,
and subscribe his name thereto. And in
caso the said president or cashier shall e-vadc,-
neglect, or refuse making such en
dorsement at the time, and in the manner
hereinbefore required, he shall forfet and
pay to (he holder of such note, bill, obliga
tion, or certificate, the sum of twenty-live
dollars, to be recovered in the same manner
-as debts of like amount are, or may be by
law recoverable: Provided, that no holder,
of any such note, bill, obligation, or certifi
cate, shall be entitled to the said interest
'for -a longer period than three months, by
virtue of any such indorsement, unless
upon a subsequent demand at or after the
expiration pf the said three months, pay
ment shall be again neglected or refused, in
which case he or she shall be entitled to
the said interest from the date of the first
indorsement, until three months after the
expiration of the last indorsement, and the
holder of any such note, bill, obligation, or
certificate, 13 hereby authorised to demand
payment of the same, at and after the ex
piration of the last indorsement, and the
holder of any ,such note, bill, obligation, or
certificate, is hereby authorised to demand
payment of the same, at and after the ex
piration of every three months from and
preceding the demand and refusal; and the
date of die second and every subsequent de
mand or neglect, or refusal to pay, shall be
indorsed by the president or cashier on the
note, bill, obligation, or certificate, in man
ner aforesaid, and under the same penalty
for refusal that is prescribed in the prece
ding part of this article. And in case the
holder of any such note, bill, obligation, or
certificate, or Ids, or her executors, admin
istrators, or assigns, shall commence suit
against any of the said banks for the re
covery of the amount due from the same,
then .the said interest of six per cent, shall
bo recovered on the said amount until it is
paid and satisfied, without any further de
mand being 'made of such bank: Provided,
ihat nothing in this act shall be construed to
prevent any bank from redeeming its own
notes with the notes of any other bank, in
whose behalf the same shall be presontcd
ibr payment.
Art. XIX. Upon the refusal of any of
"flic said banks to pay any of its notes, bills,
obligations, or deposito moneys, in gold or
silver, at or after the expiration of three
months from the time of the first refusal of
such bank to nay as aforesaid, it shall and
may bo lawful for'thc holder or proprietor
of the same to make application, in writing,
40 any judge of any court, in the proper
county, to allow him or llor to make proof
pf said refusal, on oath or alhrmatipn, by
one or more disinterested witness or wit
nesses, before said judge, whose duty it
shall be to give at least ten days notice'to the
president' or cashier of such bank, of the
time and place of making such proof, in or
der that an opportunity maybe afforded for
rcbuttiiur the same by tcstiinoin', and if the
facts be substantiated, it shall bo the duty of
the said nidge to reduce the samo to writing,
ane to transmit the samo to the governor.
And it shall bo the duty of the governor,
immediately on the receipt of the written
proqf above specified, to issue his procbi-
Hamuli,' UVV.Ul.llg w
bank to be forfeited; and from and after die
tenth day. utter the date of the said proc.
iamation the charter of the said bank shall
be absolutely null and void, and of no effect
whatsoever, except thai the said bank shall
'bo liable in its corporate capacity for the
fulfilment of all contract.'', previously made
ariu-cntcrctf iifo , ftfil thTsltockhoUlbra
thereof shalMiavo" power to elect directors
as usual,; and. bo 'capable ofcompellirrg'ihc
fulfilment of any contract entered into "with
said bank previously to the date of the said
forfeiture.
Aim XX. In case of -suspension of pay
ment in gold or silver, by any of the banks
aforesaid, it shall not be lawful thereafter
for suc"h bank to issue its own notes, except
to such claimants of -deposito moneys, as
may demand them in lieu thoreof, or to
make or declare any new loan or .dividend,
until the said bank shall pay in gold or sil
ver, the note or notes, bill or bills, obliga
tion or obligations, which the said bank
may have refused to pay as aforesaid. And
if any such note be issued, except as is
above excepted, or anysuch loan or divi
dend be made or declared, the directors
consenting to the same, shall be liable, each
in his individual capacity, to pay the amount
thereof to any person or persons Jiolding
notes of the said bank, or having a claim
for deposito moneys to an equal amount,
Who shall first suo for the recovery of the
same: Provided, That nothinglicrcin con
tained shall be construed to prevent the said
bank from recovering the notes or obliga
tions of those who may "be indebted to it as
occasion may require.
The Reform Convention. It is -universally
known that the whig and anti-masonic
parties unitedly, havo a majority in this
body, and it Is equally well known, that
notwithstanding the democratic members,
sixty-six in number, are anxiously urging
forward the prosecution of the business, for
the transaction of which the people sent
them here, the majority are just as zealously
endeavoring to retard its progress, and pre
vent an early adjournment. The daily cost
of the convention, is very great, and it is,
we believe, the earnest desire of every
democratic member, to relieve the people
of the slate from the oppressive burden, at
as early -a day as possible, consistently with
a due consideration of the important matters
before them. They have also uniformly
opposed all propositions calculated to impose
unnecessary expense upon the common
wealth, and resisted the introduction of
every scheme, the effect of which would be
to waste either the people's time or the
people's money. In objects so laudable as
these, they have been thwarted, from the
circumstance of their political opponents
holding the power in their hands and as
this is the ago of reform, and the present a
boasted "Reform administration" of the af
fairs of Pennsylvania, it is but rjglu that the
people of the state should know what a prac
tical commentary upon their professions of
economy, retrenchment and reform, is pre
sented by the actions of the friends of the
administration and the whig allies in the
convention. Pa. Reporter.
Dreadful. The Steamboat, Ben SliCr
rod, which left New Orleans on the 9th in
stant, when thirty miles below Natchez was
discovered to be on fire, and out of nearly
two hundred persons on board, only 00 esca
ped! The fire originated, it is presumed,
from the wood, used as fuel, being placed
too near the boiler. The explosion of some
powder, which was drt boare, hastened the
calamity to its direful termination.
Mexico. The proclamation of Busta
mcnte, if we are to believe it, or credit the
opinions of those who are conversant with
the situation of Mexico, promises to establ
ish the best code of government for that
country, it has ever known. There is noth
ing of that unmeaning bombast and specious
ardor in the proclamation, which gained
Santa Anna and his predecessors, their nnnn-
larity. A calm and brief glance is taken of
tne disjointed stato ol the republic, and an
anxious desire manifested to gaUicr up tlic
bleeding fragments, and breathe into them
the spirit of unanimity and fervent patriotism.
He has evinced an anxiety to do justice
to the claims of other nations; and it is even
said that the campaign against Texas which
he always held as a visionary enterprise,
will be superseded by a more strict regard to
that policy which only can preserve the
future permanency of his own country.
Santa Anna, defeated and unpopular
has published a manifesto, which is, in
reality, a perfect mirror of his reigning
characteristic Treachery. The Mexican
journalists have commented pretty harshly
upon this paper and exposed the tissue of
talschoou and simulation which it contains,
From the Saturday Courier.
MATHEMATICAL QUESTION.
In the course of my business, mv moncv
drawer was empty at twelve o'clock at one
I received a sum of money in dollars at
two I paid out the fifteenth part, and lent
ono-scventh of the remainder; at three I was
paid a sum of money equal to one-third of
what I received at one, fc I paid at the same
time twenty-five dollars; at four I received a
sum exactly onc-fourlh of what 1 then had ;
and I found that I had exactly as much as
was paid to mo at one o clock 5 how mud
was paid to me at first 1 J. P. W.
SOLUTION. Our Devil, who is a se
cond Fianklin, and monstrous apt in calcu
lating small amounts of money, has disco
vered the sum to bo $75. Columbia Mem
One of the current runors of 'the soull
is.tliat the Hon.Jojm C. Calhoun will short
ly leave this 'country and settle in Texas
A good place for nullificrs.
THE COLUMBIA DEMOCRAT.1
"fmrrn wmtow teah."
Saturday, May 27, 18S7.
C7Wcare under obligations to Messrs.
Hayhuhst k Smith, our Delegates in the
Convention, for letters and documents ; and
Mr. Harris, of Union, will please accept
our thanks for his regular transmission of
the "Daily Chronicle'1
BANK OF NORTHUMBERLAND.
The Directors of this institution, as pub
lished in our last number, have unanimous
ly resolved to stop specie payments, except
for the purposes of change. This course
was rendered unavoidable, on account of
the previous adoption of a similar policy by
the other banks of the state. It is with
pleasure, however, that we can express tin
increased confidence in the Bank, drawn
from the magnanimous conduct of the board
of Directors, in pledging their private es
tates for all its liabilities. The names of
the Directors arc
W11. M'Kelvy, John Tacoart,
J. II. Cowden, James Hepburn,
Wm. Clyde, Wm. Foiisytiie,
Peter Riciitei5, A. Jordan',
Abbot Green, II. Frick,
James Merrill, T. Coryell.
J. R. Priestly, '
These gentlemen are. known to the com
munity ; and we feel assured that no Bank
in the interior of Pennsylvania can produce
so great a combination of wealth and cha
racter in a board of directors such a sure
guarantee against losses to the holders of
notes. Wo can also, as a compliment to
the Directors of this Bank, (which thoy
may appropriate to themselves individually
if they choose,) add the simple fact, from
personal acquaintance, that there is no such
precarious personage amongst them as a
speculator- Thus, much we have thourrht
proper to say in relation to the Bank of
iNortliumbcrland, because at this crisis wc
must choose between the same kind of ex
isting evils, and excite public confidence in
such as wo conjecture to be perfectly sol
vent, or .which are rendered safe by the ob
ligatory pledges of tho directors. We are
under no obligation's to the Bank as wc
are neither a drawer nor endorser on any
paper which it holdsbut the conduct of its
managers certainly deserve some commen
dation when placed in contrast with some
others.
BANK OF MIDDLETOWN.
It is with pleasure wc arc enabled to lav
before our readers tlfc following resolution,
which was unanimously adopted at a meet
ing of the Directors of this institution on
the 15th hist. If all banks wcrn tn mirsim
this course, public confidence would in
crease the circulation of their notes. & few
of them would be compelled to close doors
in consequence of runs for specie. The re
solution speaks for itself; and is but ano
ther compliment to its vigilant and enter
prising Cashier, who has made it so useful
to the public and so profitable to stockhold
ers. "Wo subjoin the resolution without
further comment.
Resolved, That the directors of the Bank
of Middlctown deeply regret tho necessity
for the temporary suspension of specie pay
ments, forced upon tho interior of the coun
try, by the suspension in Now York, Phi
ladelphia and Baltimore; and having the
fullest confidence in this bank to fulfil all its
engagements aild liabilities, the President,
Directors and Cashier, have determined to
pledge, and diey will individually and col
lectively pledge, their private fortunes for
tho ultimate redemption of all tho notes of
tho bank in circulation, until circumstances
again permit the resumption of specie pay
ments. BENJ. JORDAN, Pres't.
Simon Cameron, Cashier.
fcCFTho President of the U. States has
issued his proclamation convening Congress
on tho first of September next. Our coun
try is becoming more and mote convention
al and legislative ; and wo would not bo
surprised, after a few years have passed by,
to find our National and Stato Capitols con
standy occupied by deliberative or political
bodies. The 'pressure' amongst Specula
torsifc Demagogues, imperatively demands
such an extra taxation upon government to
accomplish private ends, and support their
immaculate dignity of characterr
', - '-.Thc"ncwest thing m the world is an imi
tation of the ragged age", in the manufacture
St circulation of Shm-PlasfcferS.
Wc have seen several ; and, for the infor
mation of our readers, wc will give a correct
copy of the largest denomination which
has come under our observation, issued by
tho Borough of Pottsville. It reads pre
cisely as follows :
-POTTSVII-L-E IiOAN.-
e
a
c
a
M
CD
FN
o
tt
a
P
ti
,
t,
o
s
o
S3
5
o
3
ft?
o 1
B
s
a
I I. '
CD
!.
CO
CO
0 CO
t. 1-1
s
- '
5 g
es
CO
M
Q i
en
u
I
J1
-o do s$-
Now, of this sort of trash FIVE THOU
SAND DOLLARS have been issued by
the Borough of Pottsville, and ONE HUN
DRED AND THIRTY-EIGHT THOU
SAND DOLLARS by the City of Phila
delphia. What, in the name of common
sense, has induced the introduction of these
abominable rags? Is it the scarcity of em
ployment for mechanics and labourers the
high price of all provisions or the insol
vency of those corporations who issue thcml
Wc apprehend neither. In the quaint
phraseology of a contemporary, when ac
counting for the evils which at present af
flict the country, they arc produced by over
banking, over-trading, over-spending, over
living, over-dashing, over-driving, over-eating,
over-reaching, over-cheating, over-borrowing,
over-drinking, over-playing, over
speculating, and over-acting, of every kind
and description, except OVEn-PLOiraiiiNo,
which alone is the foundation of society, &
the corner-stone of civilization. It is, in
fact, a manoeuvre amongst the designing &
speculating worshippers of Mammon to de
fraud the public and enrich themselves. Wc
might here readily suggest the question
Who dare take them, or attempt to pass
them ? Would it not subject them to an in
dictment under the act of assembly prohib
iting the circulation of "notes, bills, checks,
tickets or papers," under the denomination
of five dollars I Read the following, which
is the first section of the act, and after re
ferring to our fourth page for the subsequent
sections, draw your own inferences :
Sect. 1. From and after the first day of
iiMi, n ouiiu jlol oc mwiui lor any
uuisuii ui (luruuns, or uouy corporate, with
the intention to create or put in circulation,
a paper circulating medium, to, issue, cir
culate, or directly or indirectly cause to bo
issued or circulated, any note, bill, check,
ticket or paper, purporting or evidencing
or intending to purport or evidence, that
any sum less than five dollars will be paid
to the order of any person, or to anv per
son receiving nr tmiii;.. ,.,i. ! -n
check, ticket or paper, or to the bearer of
"""""""1 ur l"ai ii win bcreccivcd in pay
ment of any debt or demand, or that the
bearer of tho samo or any person rcccivinir
or holding the samp, will be entitled to re
ceive any goods or effects of the value of
any sum less than five dollars; and from and
after the said first day of January next, it
shall not be lawful for any person or per
sons, or body corporate, to make, issue, or
pay away, pass, exchange or transfer, or
cause to be made, issued, id away, pass-
'e"ad r transferred, any bank
note, bill, ticket or paper, purporting to bo
abank note of tho naturecharacter or an
pnarance ofa bank note, or calculated for
circulation as a bank note, of any less de
nomination than five dollars. Y
And wc might also ask Who will take
them, or attempt to pass them ? The an
swer, too, is at hand. None but that hete
rogeneous mass of political hypocrites, who
havo hoisted tho banner of "the Comtitu
(ton and the Laws" & who in the face or an
intelligent community openly violate both,
to exhibit their disregard for cither. Let
no one catch iho felon in his fingers by the
touch of these polluting rags ; and let the
penalty of the law oc inflicted on all who
so wantonly disregard its injunctions, as to
join m tho present bank crusade against a
gold and silver circulation.
Anewpost.oluc71ia7bc7n established at
Colcsvllle, In Sugarloaf fowitthip, and Eze
kial Cole, Esq. appointed Post-master.
TiIIE aPMENilI0N3
We findfour limltsjjoo qmall'fo give even
)0 smauTfo gi
an outlbEoftheproceedingpof this body;
and until definiio act?6h be had upon the
various resolutions of individual members,
and reports of committees, we shall confind
ourselves to a mere notice of the general
character of the amendments proposed.
The following alterations have been sug
gested. Legislature to. meet on the first Mon
day of Januaryi No Legislature to raise
the pay of its members. Each couniy to"
have one representative in the legislature,
and the, remaining representatives to. bo di
vided according to populatioiii
Executive. Tho Governor to, bo eligi
ble but for one term of three or four years;
and a Lieutenant Governor to be chosen.
The vetoing power to be taken away.
Judiciary. Judges of tho Supreme court
to hold their offices to thoagcof70 ycariJ
those of common pleas for 7 years Justi
ces of the peace for 5 years. To be ap
pointed by the Governor, with consent ' of
the Senate.
Charters. No bank lo be chartered for
more than two- years, nor with a capital of
more than 2,500,000, without tho concur
rence of two successive Legislatures'. Tho
booTts and papers of banks to be open to
inspection by a committee of the legisla
ture; and the legislature may declare their
charters void, and make the real and per
sonal estate of stockholders liable, for the
notes in circulation. No act of incorpora-'
tion for banking purposes to be granted by
the Legislature, without making the stock
holders accountable, jointly and severally,
in their real, personal, and mixed estates,
for all the debts or liabilities of such insti
tution.
Elective. Canal Commissioners and
Supcrintcndant of Common schools 'to be
elected by the people.
Appointing power. Prothonotaries, Re
gisters and Clerks to be appointed by the
Judges. No Governor, Judge, or other
person to appoint his own relative to office.
The Paudonino power to be vested in
the Legislature.
No other qualification requisite for hold
ing' office than age, citizenship, and resi
dence. Every white male, over 21 years
of ago, to vote, if ho has lived one year in
tho state, and six months in the county.
Capital punishment to be abolished; and
duelling to disqualify for office.
No city or county in the Commonwealth
to have more than .six representatives and
two senators in the legislature; and the an
nual election to be changed to the 4lh Tues
day in October.
The truth to be given in evidenco in all
indictments for libels, and tho jury to acquit
if the truth be proved, and tho publication
made from good motives. Two-thirds or
three-fourths of a jury to give verdicts, ex
cept when capital punishment would be the
result.
In German counties no person to be ap
pointed Prothonotary, Register, Recorder,
or Clerk of tho different courts, unless he
can speak both German and English.
WANT OF CIUNGE.
"It is an ill wind that blows no body any
good," says the old proverb; and wo have
one instance in which it proves, very ap
plicable to the suspension of specie pay
ments. The other day, an intelligent wa
terman, commonly 'yclyped a Yankee, was
soliciting chango for a 5 bank note, and
at the same time uttering his complaints
against tho course adopted by the banks.
His denunciations of shin-plasters, afforded
us some amusement; and feeling disposed
to accommodate him, wc examined our
pockets, but found oursolves minus $2.
"Well, sir," says he, "probably I can take
tho balance in trade. What business do
you follow?" "Why we occasionally prac
tice law," was the reply, "and regularly
publish a newspaper called tho Columbia
Democrat." "As to law," rejoined our
humourous yankce, "tho quarrels, amongst '
my neighbors will prevent mo from spend
ing any thing in that way; but I had ought
to havo a paper, and if you show mo anum
bcr as like as not I'll take it." No. 4 was
soon placed in his hands, and after he had
scrutinized and commended its execution
and contents, "well, 'Squire," says he,
(for sometimes editors have monstrous big
titles,) "if yon will change mo a $5 note,
I'll take your paper, and pay you ono year's
subscription in advance." "Dono!" and
wchada now subscriber, and S2 more cash
than probably would have fallen to our lot
had the Hanks continued to redeem their
notes with specie.