The herald., 1837-04-05

Church.
The LegisIature--The Greet Measure.
We cannot sufficiently impress the minds o.
the Legislature Albany, the neccssitythe absolute
necessity of not seeking any longer TO rival the folly
and waste of time which marked with execraton the
last congress. These were qualities which they may
initiate, but cannot equal. We do not believe there
was such a congress as the last-so far beyond and
beneath all the rules Of w.sdom-so utterly out OF the
reach of public opinion-so completely ahead OF any
mob that ever signal sed itself in the purlleus OF the
Five Points Such men as Wise and Peyton-such
journals as the Courier and Enquir and its famous
Spy correspondence, that were wholly engaged IN
cheering them on to disgrace cannot be paralleled at
Albany in their present state of enviable de-
gradation and mbecility.
BY way of change, a species of remarkable pine
nomenon that only happens once in an age, why will
not the legislature al Albany begin to show few
signs OF life, good sense and practical craftsmanship
The commercial crisis into which the country has
been precipltated, demands early and immediate re-
lief We cannot expect 10 save those from bank
ruptcy who have traded beyond their means, but
there ought TO be effort made to protect the mode
rate the legitimate business man from the awful con-
sequences of a severe paac. To accomplish this pur
pose the measures proposed by the common council
are futile and inadequate. Six millions will only save
few land spectators or keep up high rsnts when
the general system of foreign and domestic exchange
operations has been broken up and dashed TO pieces
Besides, If these city bonds should be issued, they
will be managed entirely by the peddlng, trucking,
shaving banks and politicians now in existence in
the corporation and of it. We lcant the creation
Of an entire neic sysem-no single pill to produce
single impulse. Nothing less will do than the
creation Of a bank-of great exchange bank-situ-
ated in the central seat of American commerce. that
can be capable not only of restoring the action Of the
exchanges, but of keeping them in that condition
when the cure may be accomplished. Our great cre-
dit system must have central eye placed somewhere,
TO look, and TO watch the action of the whole ma
chine.
The State of this city-of this country-in its COM
mercia reatons-n its political relations favora-
BILE to such measure. At this momen, the govern
ment party, which hail from Tammany Hall, are on
the verge of breaking up without efior, the next
election. Fear, ALARM dread caagrn, disappolnt
ment and shame prevail among the "party." The To-
cofocos the offspring ignorance centlousnsss, cor
ruption, and want of prncipen the government have
separated and set up for themselves. They form that
part of the mob-of the unpnnclpled rabble-of the
mad rioters whose strength gave existence to the GO
vernment party here and elsewhere. The leaders o
the government party will be dashed to pieces by the
rapdity of the machine they have set in motion.
In this state public opinion, and out of the chaos
of corruption riot, mob folly and mlsgovernment a
general union is new rapidly taking place ameng all
the business sensible patriotic of every class and
condition of life. They despise the name of whig ol
any other secondhand name, originating in Hebrew
old clothes shop. The whole talent, WORTH virtue and
good sense Of the city railyng on single point
and in single movement TO save the commercial in
sttutons OF the country from utter and lrretrlevabl
ruin In the present state of society, and in this en-
ghlened business age, youmay as well think OF pat
ting dewa 9" all the charities of father, son an
brother" as to destroy the banking institutions of tn
land. Banks are parts of our wealth and prosperity
and they must be regulated not destroyed
Ii becomes therefore the duty of the Legislature 4
watch see and understand the present revolution nov
going on in public opinion. In one week, the city
New York will present front to the Unisn IN polite
that will almost rouse the dead from their graves
great so wonderful, overwhelming will be the revc
luton be. Both Tammany and Locoioco will
buried in their swn dirt-in their own corruption