Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-04-12
Important from Albany.

there have been these two days. In 1884 Lawrence s
majority over Verplanck was only ISL
Important from Albany.
BY the politeness Of Captain Ketchum (God bless
himD of the steamboat Vanderbilt, which left Albany
yesterday morning at halfpast seven, and arrived
here at hafpas five, have been favored with high
ly important proceedings of the Legislature. The Post
Note Bill and other financial aids to our banks have
passed the legislature.
The following are the significant remarks of the
Argus on Mr.. Hamers resolution, pledging the gene
raj government 10 assist in the resumption Of specie
payments =
This movement is not less just than opportune; and
meets the efforts of the great head of rredeemable
paper currency to prevent specie resumption and to
convey the false impression that the government is
hostile to the banks, with dlrecness and force. We
do not doubt the passage of the resolution, by the
votes Of the friends Of a sound circulating medium.
In ASSEMBLY, Tuesday, April l0.-Mr. Brdseye
laid on the table the following:
Whereas, the banks of the state of New York as
the fiscal agents of the United States have hereto
fore received in depose large amounts of the federal
revenues, all which they have paid over on demand
withoHt loss or defacation
And whereas, those institutions are now preparing
to resume specie payments at an early day. and have
evinced a commendabe desire to place the currency
OF this state in a sound condition:
And whereas it is just and proper that these banks
shall be adequately sustained in these their Prasewor
thy efforts, by the confidence Of the and the
general governments Therefore
Resolved, That all the revenues Of this state be
continued as heretofore to be collected in the notes
OF tho solvent specie paying banks OF this state and
deposited with those banks for Bookkeeping.
Resolved, also, That our senators and representa-
ves in Congress be requested to urge the immediate
passage of law, or the adoption Off resolution d.
rectng all officers Of the general government within
this state to receive the notes of all the specie
ing banks thereof payment OF all debts due and TO
become DUE to the United States and TO disburse the
same in payments TO be made by the federal govern
ment within this state.
On motion efG. w. Patterson, the resolutions were
ordered TO be printed.
PosT NOTES.-The house ook up the bill 10 facill-
tate the resumption of specie payments, the question
being on agreeing 10 the bill as came from the
mlttee of the whole.
Mr.. hann's amendment, requiring the banks 10
keep deposIte Is per cent Of their issues which
was pending when the house adjourned yesterday,
was rejected.
The question required on the first section of the bill
authorizing The banks to issue and half their
capitals respectively.
Mr.. P. King renewed Mr.. Frenchs amendment
restricting the issues to the amount Of capital
Lost.
Mr. p. King renewed his motion to require each
bank 10 keep on hand one dollar in csin for
every two dollars of paper in circulation. Lost.
Mr.. p. King then moved one dollar in coin for
every five dollars ofpaper in circulation. Lost
Mr. p. King then moved one dollar in coin for ten
dollars in paper outstanding and
Mr. Mann demanded the ayes and noes on this
motion, and they were ordered.
After a long debate, in which Messrs. Mann, p.
King, Barnard, Hudson, Taylor, and Hubert, took
part, the amendment rejected, after beng mo-
difed, on motion OF Mr.. Barnard, as 10 read zone
dollar coin to ten dollars of sher notes payable on
demand" The vote stood ayes %, nees 81.
The first section OF the bill as passed in committee
was then adopted; ayes 73 noes is.
The second section also passed, Mr.. p. King having
moved without success 10 insert in il . clause sub
ectng the stockholders OF banks 10 personal respon-
sbility for the debts Of such banks.
Mr. G.. W. Patterson moved 10 amend the third sec.
ton authorizing the banks 10 issue post notes; the
city banks 10 the amount Of three-fosrths, and the
country banks TO one-half thor cspal) by limiting
the amour, for both city and cosntry banks 10 one.
third their capital.
Mr. Hammond moved 10 rcstric. the amount for tn,
cty banks to one-half, and that for the country Il
one-thrd their capitals; but afterwards varied hi'
amendment 50 to FIX the limit for all banks a, on,
half their capitals.
Mr.. Al. Benham moved to modify this 30 as to sa,
one half their circulation. Lost, as was alss Mr.
Hamnond's, and Mr.. Patterson's.
Mr.. Halsey moved TO amend 80 as 10 allow all thu
banks issue thres fourths Of their capitals in pos
notes. Lost.
Mr.. Mann moved to restore six months a. the ex
usNic hhc WHfsh p~ot hVso S"~"'~ ~ s's"o' Pay
able. Lost 40 10 "a.
The third section Of the BILL asthorzag post notes
then adopted in the shape IN which v was adopt
ed il committee, ayes 70, noes "a Messrs. Mann snt
Ward we'll declining TO vote on the ground OF their be
ing bank stock helders and interested IN the question
Adjourned to halfpa 3, p. n.
Half past g. II. M
The House resumed the consideration OF the bill Il
facilitate the resumption Of specie payments
The fret section Of the bill passed, and the qncs or
required on the sixth, making It lawful for any ban
TO subscribe TO any loan which the commissioners o
the canal fund are or may be authorized TO make fo
the construction OF the public works, and TO sell am
dispose of any stock issued or to be sssed on accoun
Of said loans.
Mr.. Mann took the ground that the section, tbosRl
smuppIed into the end If this bill IN this Ins'dou
shape was TO all irtents and purposes the mortgaR
of a. ~ far a. IL went but not 10 an adequate eS
tent aud was in fact a declaration OF war, 10y tina
wing legsla ture for the defence Of the hapks, an
throrgh them of the rights and interests Of the state
against their ancient ally, new Of Pnhadelphir. A
such, he was reoiccd 10 see !, brought forward an
! al the Indications that u would pass.
Mcssrs. Ogden and Dennis'on replied, and w,hsu
denying the effect Of the measure az stated, snhe
necessary 10 protect the state institutions sga'ns
| the measures Of the general q verament The sec
| ton was adopted ayes ~, noes ".
so the bill was ordered to thud readag
Adj to 7 o'clock this evening"