Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-01-09
From oar Correspondent Brougham. V.

From Correspondent Brougham.-No. vi
ALBANY, SATURDAY, Jan. 6. 1888.
Troubles brewing for the Banks The Dry Dock
Bank is TO be hauled up before the Bank Committee no
lens roeas 10 answer to the charge OF insolvency TINS
morning after hour spent in deciding upon the rules
for the government of the House Mr. Preston King of
St Lawrence l there mischief In his
eye He read resolution calling all the Banks OF
this State foe the of all their stockholders, on the
rst day OF this month whether IN their own right or IN
trust and requiring also the Of stock hypoheca
ted. Great agitation the extreme left and right cen.
tre Ii is reasonable request, Mr.. Speaker said
Mr.. King, that deem unnecessary to accompany II
with any remark A motion made TO lay so impu-
dent document the table, and there enough 1t
snagly placed.
Mr.. King, nothing daunted, proposed another resolu-
ton calling for the aggregate amount OF the debts due
the banks and requiring statement Of the indebtedness
az any and eory shape OF the directors and ofcers en-
trusted with the management OF these institutions
Commotion on the left Mr.. King enforced the
object of the resolution in series Of remarks stamped
by good and candor. He said that he saw with
surprise the disposition OF the majority Tney were
resolved ste inquiry into the condition OF the banks
silence discussion, and TO push through ultra Bank
measures He knew that the majority the friends
Of the Banks vince the fact much as they please
He had hoped that they would agitae the question
of the currency in any way till twas how the
pension law was to resat 1t his fortune, whether
for good for evil be this floor when the suspen
sion law passed He voted against it. Il is true that
he differed from his friends the expediency Of that
il was passed. he disposed allow the Banks the
full benefit of it, and he had not dreamed that they
would dare here again through their numerous
friends ask another immunity from justice and law
He had always placed corporations very low IN the
scale Of consistency and Justice but II seems he had not
placed them low enough. Without even offering to
shew their ability to pay their debts they come up here
and ask for the privilege of issuing rredeemabe paper
under five dollars. The impudent assumptions OF these
institutions are at least things under the SUM-
1t is for the purpose Of enlighenng my path before
this repeal bill of the gentleman from Ontario.
that offer this resolution Mr. Speaker. If these Banks
will be able pay their debts at the expiration OF the
suspension law, may be Induced to grant them the i'm
munty of issuing specie paying small bills take It
upon myself in place express the belief that sew
eral of the Safety Fund Banks this moment in
solvent and my resolution will enable them to show
that they not il they wrongly suspected Move
ment the extreme left where sit several OF the New
York members. Mr.. King continued. He said, the
Banking system Of the State be remodelled, must
be reformed, it would sink beneath the odum of pub
lie Indignation They report their condition now but
what are those reports? Tables Of figures that hunbug
and raj.lead the public He wanted information. He
wanted know pho the public were that owed the Banks
meney If the secret could be unSsvellsd he aI ,h
officers the directors and their special friends He
hoped his resolution would pass.
These declarations cansed great sensation. Up rose
Mr.. Ogden. He could not express his astonshnent at
the language of the gentleman from ST. Lawrence Once
for ALL he would tell him. that he (Mr. o. came to that
house the representative of the people, and not as
in supporting the repeal Of the small note law, Mr..
Speaker. They are oppressed by worthless circua-
ting medium and would remove the oppression. Phe
Banks against which the gentleman is so furious, ind
made and in existence. Who granted their charters
Let him answer that Had been here my vote should
have recorded against many that he and his friends
called into life. But they exist, and will protect them
in their rights to the last moment he talks OF the IN
sorsncy and corruption Of the Banks Of this State Let
him name the denquents and will g with him in the
inquiry side by side He says that wish to ste in
curry TO pass this repeal bill witost discussion Wait
Till il comes up in Committee Of the Whole and he VIII
find himself mistakes. Mr.. Speaker, must msve to
Law the resolution thotable. The ayes and noes be-
ing ordered il was there laid by vote Of 81 toe7
Immediately on this decision Mr.. King took Mr. og-
den at his word and brought IN reseuton instrucung
the bank committee send for persons and papers, 70
inquire whether the Dry Dock Bank be soventor insol
vent and 10 report the same without delay to tins
house In presenting il, Mr.. h. said" Mr. Speaker,
be known that IDo suspect ibis bank 10 DC insoare
Great laugh on the rghths locofoco quarter,
and burning and blushng Of faces and ears IN oil other
parts Of the house. Mr.. Q. Redeemed up TO the eyes
The question was put at once, and carried l23 TO l.
This one negative was Mr. Wardwell from jefferson.
Perhaps he had finger in the pie. Mr. Willis Hail. OF
your city, was present will take this occasion TO
say, that never witnessed more bunglng set OF lead
ers than the wings have Messrs. King Mann, and
Hubert can wind them refund their fingers, and laugh
at them in the bargain. But this is not all
A member from Wayne so soon as the above resolu-
lion was carried moved another in the way OF retalia
ton instructng the bank committee to inquire into the
nature OF the connection Of the Dry Dock Bank with the
United States Government and to lay before the House
the correspondence that led the deposite Of the gov
eminent money in that institution the amount deposited,
when and how paid out &c &c. Appreciation through
out the house Even the extreme right laughed
Forthwith Mr.. Preston King moved to amend. by in
sertinp or any other bank in the state, after the
words Dry Dock Bank This was poser. AheN
some whispering the of the original resolution
accepted the amendment and modified his resolve so
as 10 extend the inquiry all the pet banks Mr. Mann
said he was reioced 70 find liberal spirit exesdng
ITSELF and was delighted that the prospects were so
good that the two parties last abeu to meet
common groasd The wings began TO look blue. The
locos rubbed their hands and laughed.
Some one moved to incsde the negotiations OF the
Seventh Ward Bank Great laughter asd order, order,
from the chair Mr.. King moved 10 amend so a. TO m
cude only the correspondence between the directors
and secretary of the Treasury but betwecs then, aud
all other agents and ocs Of the government or PERSONS
any way concerned. The gentleman from Wayne &C
cepted the modification The locos rubbed their hands
again. and Mr. King thrust his hands into his pocket
nearly MP to the elbows threw both feet the table asd
laughed heartily. The wings laughed too IL was
capital joke they thought though they objected TO the
expression persons" That was carrying the jest
rather toe far they appeared to think they stop at
the agents and officers Of the government Just the
question was about be put, being very near half
past two and the Albany hosts delay dinner
Mr. TAYLOR impressed with this important consideration,
| moved an Adjournment Whether the resolution will
pass IL 10 me extremely doubtful II will place some
very GOOD wings in an awkward dilemma. The ayes