X
- - f i -f-' j -tTr -
H. C.
DEVIHE Editor and Proprietor.
C D
I1URRAY, Assistant Editor.
EBE3VSBURG.
WEDNESDAY M0BN1NG:::::::CC10LER 21.
: FALSE PHILANTHROPY.
Wo learn from our exchanges, that a large
number of Factories, Rolling Mills, d-c,
have been compelled by tbo present monetary
cruris, to suspend operations. The result is,
that the laborers in those establishments, who
were earning scarcely sufficient to support
themselves find Tann!ies, are deprived of em
ployuicflt, and thrown out destitute upon the
world, to subsist during the coming winter as
Let thev ma v. The amount of sufferinjr
that must consequently ensue, especially in
our cities atd large towns, is painful to con
template Here in our mountain home,' we
know but littlo of the extremes of cither
wnalth or poverty. While few are what may
be called wealthy, few, if any, aro destitute
of the necessaries or even the comforts of life.
But it is otherwise in our cities and large
towns. There the laboring man is compelled
to labor hard and unremittingly, to obtain for
himself and those dependent on him for sup
tort, their daily bread. In a general stag-
cation of business like the present, the pub
lie and newspaper sympathy in our cities is
with tha merchant who has "failed," or is
eom polled by the force of circumstances to
suspend;" but the laboring classes are al
ways the real sufferers. It may indeed be
painful to the rich merchant to perceive his
nuuie on the list of suspensions and failures,
but he would feel infinitely more wretched,
did he find himself liko thousands of poor
UWers at the Drescnt time, destitute of the
means of procuring food and shelter durin
the coming winter for a wife and children
whom he loves, and with no escape before
him from starvation, save through the portals
of an almshouse
And this for years, has been the condition
of a large majority of the free laborers of
tb North." For thorn to be deprived of em
ployment for even a single day, was, and is,
to hava grim penury and want Etaring them
in the face.
This being the caso is it not a little aston
ishing, that such immaculate philanthropists
iuj Horace Greely, Henry Ward Beccher,
Mrs. Stowe and kindred spirits, should go
abroad to minister to the sufferings of the
Poor African Slave," while so much work
remains to be done at home. Would it not
to well for tbem and the rest of the Black
llepublican fraternity, to do something tow
ards elevating the condition of the free labor
er in the North, before they go abroad in
search of objects on which to exereisc their
philanthropy and charity.
We are no friends of slavery in tbo ab
stract. We have always regarded it as a
great evil; but surely, no one will contend
that the condition of the slaves in the South
is much inferior to that of the free Uborers
in our cities, who are now out of employment,
without even the means of procuring a break
fart, and hear their helpless children crying
around them for bread.
Destitution liko this destroys every noble
attribute of man's nature, degrades him phys
ically and intellectually, until at length,
The godlike soul within,
Sinks beneath the fearful demon power,
Of poverty and bin."
' Charity always begins at home," and. we
would therefore say to our Black -Republican
philanthropists, -cease prating about the wrongs
of the " Poor Negro exercise your enlarg
. ed philanthropy in relieving the genuine ob
jects of charity at your own doors. If you
fail to do so, and still continue your mad cru
tade against the Sou'.h and her institutions,
we must and will believe, that you are either
hypocritical demagogues, or mad fanatics,
imbued with the " Fpirit of false pbilanthio-
PJ- .
5T The last few days have been very cold
dreary and disagreeable. We arc no friends
of cold weather, and look forward hopefully
and confidingly for at least two weeks of "In
jun Summer before old winter is ushered in
to office. If we were disposed to be poetical,
we could say several things about the glory
now around us, notwithstanding the air is
confoundedly disagreeable. Enough can nev
er be said of the glory of Autumn. We clip
the following catalogue of what may be seen
i an Autumn sunset from the columns of the
Home Journal :"
AUTUMN SUNSET.
Gulden light now fills the air ;
Purple shadows now appear ;
Mountains, bathed in misty color,
Sleep on ground of blood and amber :
Lower stream the betting rays,
Richest light crowns every place ;
Cloud. of lory float, like incense,
In the day's last dying glance.
"Upward, heavenward goes the light ;
IYoin the cast comes leaden night ;
In the valley darkness gathers,
From the world all light retires.
In the crimson, flaming eve.
All the day burns slow r.way ;
And tho morrow's hoTy dawn,
From tbo ftJien misty grry,
Not True-
We heard it several times asserted last week
that tho Catholic Clergyman in Girrolltown re
mained at the polls in that place al 1 day during
the lats election, electioneering in favor of all or
a portion of the Democratic county ticket. On
inquiry we are satisfied that the charge has no
foundation in truth whatever. The Rev. gentle
man referred to attended the election, exercised
the right of suffrage, and then returned to his
home immediately, and afterwards took no part
in the contest.
.jT3y It is now-ascertained to- certainty,
that the Rev. Sidney Smith was the author
of the best theory of kissing. We quote it
in full, for the benefit of those' of our youth
ful readers who are in the habit of indulging
ia to is Harmless ana exquisite luxury, xiis
Reverence thus defines it :
"We are in favor of a certain amount of shy-
rKss when a kiss is proposed, but it should not
be too leng j aad when the fair oiie gives it, let
it be administered with energy. Let there be a
soul in it. If she close her eyes and sigh imme
diately after it, the effect is greater. She should
ce carelul not to siooDer a kiss, dih give it as a
humming-bird runs his bill into a honey-suckle
lccp, but delicate. Ihcre is much virtue in a
kiss, when well delivered. We have had the
memory of one we received in our youth, which
lasted us forty years, and we believe it will be
one of the last thins we will think of when wo
die."
&3T Wo clip the following frem. the Lan
caster Intelligencer ot this wees-:
The Railroad and Politics. Wo have
been informed upon the best authority, that the
Pennsylvania itailroad gave orders to their men
working on the different sections of the road ia
Lancaster county, especially in this city, that
they might .go and vote, but must return ijiimedi
atchi ia their tcork. This; iierhan?. was all well
enough, if it was intended to apply to both par
ties. The Democrats did as they were ordered;
but there were several Llack-Itepubiican employ
ees who not only went to the polls and voted, but
remained there nil day I i his was especially the
case in the North Yvcst and South Wet Wards,
where these men belonged, and they were
the noisest, most meddlesome find insulting fel
lows we saw on the ground. We presume, there
fore, that the rule was only intended to apply to
Democratic employees. If this is to be the par
tizan course of the Railroad, the 6ooner it is
known the better. A Democratic Governor and
a Democratic Legislature will, perhaps, teach the
Company fbottcr manners.
gg. If General George Washington Bow
man is TKjt too busy at present in collecting
his outstanding debts, we would bo pleased
to learn from him through the medium of a
"communication" in the Gazette," how he
felt while examining the official returns for
sscmbly in this county. By the way had'nt
he better "come over" to Cambria and speak
a few words of consolation to his National
Democratic (?) friends? lie was emphati
cally their leader in the late contest, and it
is certainly unkind in the hour of darkness
and disaster, to leave them "naked to their
enemies.
The Banks.
We learn from -a reliable source, that the Phil
adelphia Banks have at length determined to
call thrir stockholders together, for the purpote
of deciding iu relation to the Relief Act. They
are also about entering into arrangements with
the country Banks under the 3rd sectiou of that
Act, which requires them to receive the nctcs cf
all solvent Banks iu payment of debts. The
affairs of tLc Bank of Pennsylvania aro under
going an investigation by a committee tf the
Directors.
EST We would call the attentio n of mer
chants and others in want of Tinware, Stove
pipe or Stovc3, to the advertisement cf our
old friend, F. W. Hay, who is always ready
to sell at prices to tuit the times. He has
Egg Staves as low as $4,50, and cooking
Stoves with two holes for boilers as low as
3,75. Only think three dollars and seventy-five
cents for a stove to keep yourself
warm and cook your breakfast. He has a
large stock and will sell on terms to suit all.
Give him a call when you visit Johnstown.
3T David O'llarra, our newly elected
roor House Director, has already been 'sworn
in,' and entered on the discharge of the du
ties of the office. Mr. O'Harra is an intelli
gent, active and energetic business man, and
will, we are confident, make a prompt, hon
est and obliging officer. Mr. Moore, tho re
tiring ofiicer, carries with him the respect and
kind wishes of all with whom he transacted
business in an official capacity.
The Poor House.
This building is now completed, and in a few
weeks will be ready for the reception of Paupers.
It is a beautiful structure", and reflects much
credit ou the skill, energy a-d good taste of Mr.
Willi ax Callin, tho Architect and contractor.
We will endeavor next week, to furnish our
readers a full and accurate description of the
building.
.i.n i
&T Our readers are directed to the Card
of Mr. Joshua Cowpland, Manufacturer and
Dealer in Looking Glasses, Gilt Picturo and
Portrait Frames.
It will bo seen by a Card in to-day's
paper that Mr. George Rochester is now with
the firm of Lawson & Yerkes, Importers of
all kinds of Liquors.
Dkatii of Gkorge S atlor, Esq. We re
gret to chronicle the death of George Saylor,
Esq., an old and respected citizen of ourbor
ougb. Mr. Saylor has been in delicate health
for several months, most of which time he was
confined to his bed. ' Last week he had recov
ered sufficiently to be out; and had visited tho
polls and voted- Now he i3 no more. He
died yesterday evening between six and soven
o'clock. Mr. S. leaves a large circlo of ra
lations and friends tc mourn his demise. He
was in me uoin year oi uge. liis remains
will be interred in Sandy Valo Cenrctary thia
afternoon at 3 o clock. Echo.
. The Election.
It 4s impossible to make any estimate, at
the1 present time, 'with 'regard to the majority
in ' the State of Packer Over 'Wilmot. It may
possibly reach 50,000, and certainly will not
fall below 30,000. As Daniel Harkins says
Vyou may bet your life on that, Judge."
I. O. of O. F The officers of tho lodg-
ges in this district have been dulyinstalled
by V, 1). U. JU. Campbell, as follows :
Coxeiiafgh Lodge, No. 191. Johnstown.
John Streum, N. G.. Theo. L. Heyer. V.
G., J H. Fisher, S., F. Frankel, A. S.,
John Flanagan, T.
Highland, . Lodge No. 428. Ebensburg.
C. Thos. Roberts, N. G., John Evans, V
G., Geo. C. K. Zahm, S., John L. Stough,
A. b., Lewis Hoover. T
Alma Lodge, No. 523. Johnstown.
Willium Canan, N. G., Rev. S. E Bab-
cock. V. G., James Moore, S., Geo. Peake,
A. S., William II. Aaron, T.
Highland Division, S. ot T., No. 84, Eb-
"cniburg.
W. P., N. I. Roberts, W. A, Lewis!
Hcover, 11. S G. A. Kinkead, F S , Thos.
B. James T., George Huntley.
PEriKSYLVAKIA.
Tho EText State Legislature
y
The next Legislature of Pennsylvania will
be largely Democratic. From the complex
ion of returns received thus far it will stand
as follows ;
SENATE.
The following Senators hold over :
Philadelphia county Harlan iDgram, D.;
R. L. Wiiffht, V.
Montgomery county Thos. P. Knos, D,
Berks John C. Evans, D.
Bucks Jonathan Ely, D.
Northampton aad Lehigh Jcs. Laubach,
D.
Adams and Franklin Geo. W. Brewer, D.
York Wm. II Welsh, D.
Cumberland and Perry Henry Fetter, D.
Centre, Lycoming, Clinton and bullivan
And. Gregg, R.
Blair, Cambria and Huntingdon J. Cress
well. Jr., D,
Luzerne, Montour and Columbia Georgo
P. Steele, D.
Bradford, Susquehanna and Wyoming C.
Reed Myer, R.
Tioga, Potter, M'Kean, Elk', Clearfield,
Jefferson and Forest Henry Souther, li.
Mercer, Venango and Warren Q. W
Scofield, R.
Erie and Crawford D, A. l'inney, R.
Uutler. Beaver and Lawrence John R.
Harris, R.
Alleghenv William Wilkins. D. and E
D. Gazzam, R.
Armstrong. Indiana and Clarion Titian
J. Coffey, R.
Juniata. .Mifflin and union Jame3 iVl.
Sellers, R.
Schuykill C M. Straub.-D.-
Total Democrats, 13; Republicans, 8.
The following new members wero elected
on Tuesday:
I. District, Philadelphia S. J. Randall,
D.; (to fill a vacancy,) I. N. Marsehs, D.
II. District. Chester and Delaware Thom
as S, Bell D.
VIII. District, Carbon, Monroe, Pike and
Wayne Thomas Craig, Jr , D.
XIII. District, fcnyder, Icrtnumberlanu,
Montour and Columbia Charles 11. Bucka-
lew. D.
XV District, Dauphin and Lebanon John
B Rutherford, Li,
XVI District, L3ncastcr-Bartram A Schaf-
fer. R; Robert Baldwin, 11.
XIX District, Somerset, Boaford tn J Hun
tingdon Wm P Schell, D...
XXII District, Westmoreland and Fayette
Jacob Turney, D.
XXIII District, Washington and Green-
George W Miller. D.
XX I District, Lawrence, Mercer and
Venango Wm M Francis." R.
RECAPITULATION.
Democrats.
Republicans.
Holding over
New members
13
8
21
8
4
12
Total
nOUSE OT REPRESENTATIVES .
The probable complexion of the Houso
Representatives ia as follows :
of
Democrats. Republicans
Philadelphia City
Philadelphia County
Delaware
Chester
Montgomery
Bucks
Northampton
Lehigh and Carbon
Monroe and Pike -
Wayno
Luzerne
Susquehanna
Bradford
Wyoming, Sullivan, Co
lumbia and Montour
Lycoming and Clinton
Centre
Mifflin
4
13
1
3
3
2
1
1
3
(prob.)
1
o
1
J
Union, Snyder & J uniatta
2(pro)
Northumberland
1
Schuylkill
Dauphin
Lebanon
Berks
Lancaster
York
Cumberland and Perry
Adams
Franklin and Fulton
Bedford aad Somerset
Huntingdon
Blair
Cambria
Indianna
Armstrong and West
moreland -Fayetto
Greene
Washington
Allegheny
Beaver and Lawrence
Butler
Mercer and Venanco
3
1
1
1
1
1
(prob)
1
2(pro)
l(pro)
1
1
u
1
1
3
2"
- Democrats Republican
Clarion and Forest 1 1
Jefferson. Clearfield, Elk
and M'Kean 2 rproV)
Crawford and Warren 2
Erie . 2
Potter and Tioga
tetal
67
"T&tOIlftfLATIOJr.
Democrats.
21
67
. 33
Hejmllicans.
12
S3
Senate
Houso
88
45
Democratic majority on joint ballot, 38.
MAJORITIES.
.October 185C. October 1857.
1 ,
O O u o S
p & a fcs
39
4225 15S0
395
640
Adams
Allegheny
Armstrong
Beaver
Bedford 33
coo
6000
Berks C061
Blair
Bradford
Bucks
69G
3975
656 1000
503
1183 3337
653 600
321 v 750
440
957
660
131 400
Butler
Cambria
Carbon
Centre
Chester
Clarion
Clearfield
Clinton
Columbia 1G99
1200
Crawford
Cumberland 251
Dauphin
156G
525
519
2103
110
400
300
4
100
Delaware
Elk 239
Erie
Fayetto 183
F ranklia
500
100
Fulton 253
Green 10S9
Huntingiou
Indiana
Jeffersoa
Juniata 40
2SG
1817
123
2444
1578
1000
1200
05
Lancaster
Lawrence
Lebanon
Lehigh 71
Lu2crc3 121
x
1000
1500
1500
Lycoming 397
McKean
3
833
19
Mercer
MiSin
Monroe 1519
ontgotii'y 1944
2000
600
3000
400
17000
Montour
61
Northa'ton 2320
Northum'd 1173
Ferry
87
3434
591
1733
Philad'a.
Pike
Potter
233
Schuylkill
3000
100
Somerset
Snyder-
774
254
1104
2578
440
492
103
busqueh ca
Sullivan
Tioa
roo
167
Uniou
Venango
25
Warrea
Washington
Wayne
137
estijcrel d Ooo
Wyoming 41
G00
250Q
York 1482
32,605 29,602
THE RELIES" BILL.
An Act providing for the Resumption of spe
cie I aymeats by the JJanks. ana for the
Rdicf of Debtors.
Section 1, Be it enacted by the Senate and
House of Representatives, of the Common
wealth of Pennsylvania, iu General Ass;mbly
met, and it is hereby enacted by authority of
the same :
That the provisions of every Act of Assem
bly, or of incorporation or re-incorporation,
heretofore passed, declaring or authorising the
forfeiture of any Bank, Saving, Trust and In
surance Company or Corporation having ban
king privileges, or inflicting any penalties, or
autuorising any compulsory assignment, lor
or by reason of the non-payment of toy of
its liabilities, or the issuing or paying out the
of the notes of other Banks incorporated un
der tho laws of this Commonwealth, though
not specie paying, or its loaning or discount
ing without the requisite amount of Fpecie or
specie funds, since the first day of September,
Anna Domini, one thousand eurht hundred
and fifty-seven, bo and the same are hereby
suspended until the second Monday of April,
Anno Domini, one thousand eight hundred
and fifty-eight, and all forfeitures and penal
ties, or liability thereto, heretofore incurred,
or that may hereafter be incurred, before the
said second Monday of April, under such
Acts of Assembly, or of incorporation or re
incorporation, for or by reason of the cause
aforesaid, or any of them, are hereby remit
ted, and so much thereof as prohibits any
Bank from making loans and discounts, issu
ing its own notes, or notes of other Banks in.
corporated under tho laws of this Common
wealth, though not specie. paying or declaring
dividends during the suspension of specie pay
ments, or from loaning or discounting, with
out the requisite amount of specie or specie
funds as atorcsaid, and any Mich bank, during
such suspension of specie payments, may de
clare dividends to an amount not exceeding
six per cent, per annum on its capital ; and
this Act shall extend also to all lianks. ba
ving, Trust and Insurance Companies and
Corporations wuh banking privileges, char
tercd or re-chartered under any law, for pe
riods hereafter to commence, and to the pay
ment of stock to all Banks incorporated by
tho Legislature at its last session.
Section 2. That, m addition to all state
ments and returns now required by law, each
and every bank in the cities of 1'huado'phia,
Pittsburg and Alleghony shall, on the first
discount day ia January noxt, and weekly
tbcreafter.make up a statoment.to be verified
by the oath or affirmation of the President of
Cashier thereof showing first, the amount
of its loans and its discounts : second, the
amount of specie in possession of and owned f
by Euch Bank, and the balance due from otn
er Banks; in distinct items; third, the amount
of its notes outstanding ; fourth, the amount
of its deposits, including individual deposits
and balances duo to other Banks; which
statement shall be published in the next suc
ceeding issue of a newspaper of the county in
which the bank is located, or if there be no
newspaper in such county, then a newspaper
of some neighboring county ; and any viola
tion of this law, or failure to comply with its
provisions by any President or Cashier of any
Bank, shall be a misdemeanor, and each of
the -said officers shall, upon conviction- there
of, be .punished by a fine not less than five
hundred dollars, nor more than one thousand
dollars, at the ducrotion of the court; one
half to be given to the prosecutor and one half
to the county in which such bauk is located.
Section 3. The said Bank are required.
until the second Monday of April aforesaid,
to receive at par in payment of all debts due.
or to become due to them, reppectmiy, the
notes or ail tne solvent lianks of the Common
wealth which paid specie for all their liabili
ties on and immediately prior to the first day
of September last, and which shall continue
solvent, aad the said banks are also hereby
authorized to pay out, iu all their business
transactions and discounts, tho said notes, so
long as the banks issuing the same shali re
maiu solvent , but in case arty Prcsidont, and
a majority of the Directors of any of the said
Banks shall certify to the Governor, under
oath or affirmation of the President, his ap
prehension and belief that any Bank in said
certificate named is in au unsafe condition .the
Governor shall thereupon appoint three judi
cious persons, not interested iu said Bank, as
Commissioners to investigate the condition of
such Bank. And the paid CommissioLers to
investigate the condition of such Bank. And
the said Commissioners shall after taking an
oath or affirmatioa to perform the duties of
their appointment with fidelity, forthwith pro
ceed to make tlis said invfistic a'.ion nn.l r-
port the result thereof within ten days to thCf611116 maJ prove injurious to the citueca xf
Oovernor ; and if the officers if tho said
Bank shall refuse to permit the said Commis
sioners to make such investigation, or to pro
duce any books or documents necessary for
that purpose, or if the said Commissioners, or
a majority of them, shs.ll report that the said
Bank is an unsafe condition, the Governor
shall thereupon issua his proclamation decla
ring the charter of said Bank to be forfeited,
and the said Bank shall be deprived of all the
beneSts of this act and tho directors thereof
shall forthwith make and execute an assirrn
mcnt ia the manner provided by the act en
titled 'Aa Act regulating Banks," approved
the sixteenth day of April, Anno Domini,
eighteen hundred and fty ; aad the expense
of fcuch Commission, including the compensa
tion of tho Commis$ioher3 at eight dollars
per day each, shall be pail by the bank against
which it is issaod, unless the report shall be
favorable to its condition, in which case they
shall be paid by the applicants, but any
Bauk or Banks which shall, before the period
heteinbefore limited, resume and continue
the payment of specie on all their liabilities,
shall not, after such resumption, and during
such continuance, be tubject to any of the
provisions of this scct'or : Provided, That
m bank shall be required to receive the notes
of any bank against which a ccrtiScate may
be made as afores-a'd, at any time after the
delivery cf the same to the Governor, until
the Commhisicuers shall report in favor of
such Bank, after which tha notes of such
bauk shall again be received as required by
the provisions of this section.
Sectiou 4. That the several collectors of
taxes. t"l!s and other r -e u s of the Coiu
m nwtahli, and uLo County Treasurers, are
hereby authorize! to receive, for State pur
poses, the notes of tho solvent banks of this
Commonwealth, though not specic-pnyinjr
banks, in payment of the said taxes, toll and
revenues, and the State Treasurer is hereby
authorized to receive aud receipt for the same
. .i i
ia IL.C same manner as taoua taia nanus
ware specie paying.
Section 5. That the deposits by tha State
Treasurer, or to the credit of tho Common
wealth, in the several tauks and corp. -ra ions
aud all bank notes which are now or may
hereafter be in the treasury during the period
of suspension afoicsuid, hall from time to
time, on demand of the s-id treasurer, be paid
by the said banks or other corporations res
pectively, in specie, in such amounts & may
Lie requireu oy saiu .treasurer 10 cuauie urni
to pay the luterest accruing ou the public
loans of the Commoawealih.
Section 6, That upon all judgments here
tofore entered in suits commenced by writ or
otherwise, or wtucu may dc entered curing
tho period heretofore mentioned, ra actions
instituted by writ, or otherwise, iu any court
in this Commonwealth, cr before any rider.
man or justice of the peace, on judgments ob
tained before said othcers, if the defendant
shall be possessed of any estate iu fee simple,
within the resptct.vc county, worth, iu the
opinion of the court, alderman, or justice, the
amount oi tne saiu judgment over ana aoove
all incumbrances, and the anion nt exempted
from levy and sale an execution, thereon, on
judgment now obtained, or to bo obtained on
suits now brought, lor the term or one year
from the date of the passage of this act, and
on all others for one year, to be computed
from the first day of the term to which the
action was commenced -; and every defendant
in such judgement may have the same stay of
execution, it within thirty days Torn sbe pas
sage of this Act, or wi hii thirty days from the
rendition of any futuo judgment, he shall give
security to be approved of by the court or by a
judge thercof.or by such alderman or justice of
tie peace before whom such judgment was4ol
taiued, for thj sum recovered, together with
the interest and cost : Provided, That this
section shall not apply to the wages of labor
nor to debts upon which Stay of judgment is
expressly waived by the debtors, nor to judg
ments upon which a stay of execution has al
realy been taken under existing laws : And
provided, That the provisions of this section
shall be extended to judgments entered or to
be entered, as well upon bond and warrant
of attorney as upon mortgage to secure the
sane, and to any subsequent grantee or ow
ners of the premises so bound, as well as the
original obligor or mortgagor ; Provided f uir
thcr, That caid stay of execution shall not ap
ply to judgments or mortgages, or ca bond
secured by mortgage, us.kss tho interest
thereon shall bo paid within sixty dayg after
the accruing of the saaie, id sdcli funds as
the Banks arc authorised by this act to use
Sectidn 7. This act stall take effect imme
diately except the third section, which shall
not go into operation until the provisions of
this act are accepted as herein provided, but
no bank or other coi-voratiou shall be embraced
within its provisions more than thirty days af
ter the passage hereof, or after any bank skall
have suspended specie payments opon ita notes
or obligations, unless the stockholders of auch
bank or other corporation shall, before the
expiration of the said thirty days, or wkhin
thirty days after any bank shall have sapen
ded specie payments upon ita notes or other
obligations, at a meeting to be called by the
directors thereof for that purpose, on ten day's
public notice, in one or more newspapers, ac
cept the provisions of this act by a Trajority
of votes of said stockholders, to be voted amd
counted according to their provision in lL
charter of euch accepting Bnk, or other crr
poraticn regulating the ellioc of Dircvtors.
but to make each acceptance valid, tLc re
shall te filek ia the office of the Auditor Gen
eral of this Commonwealth a certificate that
this -act has been duly accepted, under the
'common seal of such Bank or other corpora-
tion, auesiea oy me signature or iu 1 resi
dent or Cashier. And each cf the said Br.oks
accepting the provisions of tbii act, shall
pay into the Trtsaucy of the Couiiuou wealth,
ou or before the firbt day of January, Anno
Domini, one thousand tight hundred and fif
ty-eight, -or, within thirty daya after any balk
ctiail accept the provisions ot this act, a tuia
equal to one-lourtu of one per centum upon
the capital s tock of said lank, in addition u
any amounts they are now rwwrcd hj law
tj pay.
tection 3 That the 47th sectiote of tfce act
approved April 16th, 1850, -entitled "Au
Act regulating Banks," be and tho tame is
hereby repealed : Provided, That all suit
brought 'or now p'eading, for fi'rfti.u-ea or
penalties under taetecijn hereby repealed,
shall not be affected thereby.
Section 9. Tuat the Legislature hereby re
serves the riht aud power to aher, revoke or
aanul the charters ot any ba.uk vr I auks, ot
poration or corporations, accepting the provis
ions of taid act, whenever m ihp;r"up.i.on th
the Commonwealth, in sach manner, howev
er, as tj do no l j Oct ice to the corporator.
b-ctkn 10. That bo Baak, Savug- Fund,
Insurance or Trust Company thall, direttly
or indi.ectly, purchase, or b? concerned iu
tho purchase ot the notes of any of the incor
porated banks of this State at leas than their
par value ; and auy and cverv of the ofSci
of said institutions violating the proviaioaa of
this section shall be deemed guilty of a ruu
de tti can or, punishable, upon conviction, by ft
i a 7 .....
nne ci not less than nve hundred dollars no
moe than one thousand dollars, os-half to
be paid to the informer and the other half to
the use of tho Commonwealth.
Section 11. That no stocks, bonds, prow
isiory notes, personal property, or otuer val
uable securities, hypothecated or hId iu
pledge, either with power of attorney attach
ed or otherwise, for credit or siouey loauisl,
shall be sold for the period of ix tuoiuhs ficiu
the passage of this act without the congest of
the debtor, debtors or party hypothecating or
pledging the same being rt Lad aud obtain
ed in writiug.
Sectiou l'l. That the notice required for
pnymcnt, provided ia tad charter f truviu
f und and Trut Companies, iu all iuu ex
ceeding one hundred dollars, be. and itk
is hereby c derided for ti e period ot tw
months durictr the suspeiibioa of epatio pa)
meat authorized by the Act.
Banks and Eankin.
Uuder this caption th Wtliugton (Wuii
B.ys: Sia?e a portion of the Aueri
banks have avaed to pay tht-ir dbta. wa
have been prepared for the curieut fiorta to
iuduce all other to follow their example. W
shall not be surprised to larn that th44
seeking to sustain taera?clve3 Cnd their fal
len brethren their most determined niat.
Should the failure bceome general, no invidi
ous comparisons could be drawn. But
tharo are very many banks aud bankers who
will not fail, effort are being vaaU to avert
all injurious effects upou the reputation
such as have actually done so. Heiie, we
see it stated in the papers, and hear it in the
streets, that their tl suspension icns irM.tuid
as a measure of relief V It rquirf s great
effrontery to make such assertion!, and almot
unlimited credulity to secure their belief. -Those
having a knowledge of business and
who reflect upon it, will never credit auch an
idle anl absurd assumption. If suspension
is a relief measure, tho. more extensive tha
greater the relief. Debtors as Well as bank,
should suspend'-- If suspension by a baak
relieves its customers, of course, the urpn
sion by the customers mut relieve the banka.
Banks never suspend to favor thrir debtor,
but to relievo themselves. They beeoma In
volvel for want of capital, or because of bad
management, by setting the ordinary ruhs f
banking at deSanee, and cannot meet thir
engagements, and then stop payment. Who
is then relieved ? The banks relieve them
selves by refusing to pay. This is a meanr
of relief to them, but to nobody else. Instead
of relieving their debtors or the public ex
actly the reverse happens. They require'all
owing them to pay as fast as they can dr
money from them. - They contract their ered
its, sacrificing those who owe them, when not
prompt, without a scruple. When they baT
drawn in from the community as niucb a
suits their purposes, asd have retrieved their
errors in banking, and money becomes plen--
ty, they commence to py their own debts.
But they do not allow their debtors to delay
payment until they have retrieved their affairs
and until money becomes abundant. If a
merchant allows his note to be protested, his
character is pone and be can get no farther
credit. He is telegraphed as having failed
He consults his creditors if ho is honest and
wise; offers them the control of all he nap. aa-J
abides their direction. He compromises and
an extenBio- goes on. as they advie.
But banks w lit not holders of thir f HI
or their depositors, creditors, cj tha' pubhe
who are affected by their ae . but the mana
ging coterie of the directors room, and con
sult their own interests, and determine aad
act accordingly; let it hurt or ruin whom it
may; The exceptions are few and tend to
establish, tS general rule. If banks have
real solid carita and are well conducted.
they can and should pay their debts a well'ia
individuals. If thay hava bo- capital, or are
badly conducted, there is to $ood reaoa w4f
they should escape the natural conequencvi
of their condition. " -
In a mimic is lrn." j
I