The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-10-17

most of them had made contracts and arrange
mcnts, and in many cases pledged the faith Of
the State, in expectation of receiving the re-
naming portion of the surplus OF 1886 The
operations of Congress, however, have pro-
duced very sensible and favorable effect up
on the money market. AT the commencement
OF the session specie was at premium OF
10 per cent; il is now down TO 5, Exchange
on England, September /, was 100 10 III,
and is now at Il6. Exchange on New Or
leans which was, at New York, at ~ per cent.
at the beginning of the session, is reduced TO
3 l-2 and 6. The favorable news from Eng
land, and the returning crops, no doubt have
had very great effect in improving the mar
ket The diminished differences between pa
per and specie, and the various indications in
the monetary horizon, give assurance of re-
turning confidence, and increase the probabili-
ty OF an early and universal resumption of
specie payments. The rejection of the Sub
Treasury scheme, to which we believe the
eyes OF the people have been turned with
anxiety and alarm, we can but regard as an
other most important indication in favor of the
currency and business interests Of the States,
II II had passed Congress, we cannot avoid
believing, that the cup Of returning prosperity
would have been dashed, and the whole. coun-
try involved in still greater confusion and en-
barrassment if possible, than it has hitherto
suffered and now we hope. passed If the
merchants and the banks shall be relieved by
the measures adopted, and they shall pursue
policy which correct appreciation of them
and of their own position will suggest, we shall
again speedily see confidence aud animation
restored to every ramification Of society. By
the return Of the regular session, we hope to
see such indications from the banks, the mar.
kets, the people in their primary assemblies,
and from the States, as will dissipate the Vi
sion of an exclusively metallic currency, and
awaken Congress and the administration to a
lively sense Of the true interests of the Union,
and to just appreciation of the benefits Of
that system which has contributed so much to
the present advanced civilization and improve
ment of our united country.
The following is list of the acts passed at
the extra session of the 25h Congress
BILLS OF THE SENATE PASSED INTO
LAWS.
No l. An act to postpone the fourth instalment
of depoSite with the States
3 An act auhorislng further poSponement OF
payment upon duty bonds.
L. An act for adjusting the remaining claims upon
the late depose banks
H. An act to regulate the fees of District attor- j.
neys in certain cases.
IL An act for the relief of ID. p. Madison.
l. Resolution directing the postage on letters sent
by express mail to be paid in advance.
BILLS WHICH ORIGINATED THE HOUSE PASSED
No 2 A bill to authorize the issuing of Treasury
notes.
g. A bill making additional appropriations for the
suppression of Indian HoSlileS for the year one
thousand eight hundred and thirty
g. A bill making additional appropriations for
the year one thousand eight hundred and thirty
seven.
10 bill to continue in force, certain laws to the
close of the next session OF Congress.
H. bill to amend act entitled an act TO pro
vide for the payment of horses lost or destroyed in
the military service OF the United States, approved
January Ia, 1887