Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-05-03

Preston, Robbins, Smith of Indiana, South
ard, Swift and White.-Il.
From the ". Y. Commercial .4drcrtiscr, dpry17
BANK CoNvENTIoN.-This BODY nd.
journcd yesterday sine die, the MARYLAND
Delegation having Withdrawn on Saturday
and several other Delegates returning to
their homes on the same day. The rcsnlt
Of their deliberations is embodied in the fol.
lowing preamble aud resolutions:-
"Whcrcas it is found necessary in order
to simultaneous action by the banks in the
resumption of specie payments, so to pro-
ceed i'll designating period for that pur-
pose as 10 secure the nearest approach of
unanmity-and whereas while in the judg-
nlent of this Convention, the return TO sne-
cic payments and preservation of the cur.
rency in n sound condition, will dcpend es-
sentially OH the course of the general gov
ernlnent. yet this Convention regards The
good faith, exclusive Of any direct reference
to the prospective measures orihe govern
ment. AT the same time, the Convention
has been happy to observe, in recent letters
from the Secretary of the Treasury, spc-
clfic assurances of an intention to sustain
the banks so far as it may be done throucI,
the fiscal operations OF that department.
OF the government
"Rcsolred, That it he recommended ~
all the Banks of the several States to resume
specie payments on the first Mondav or
January next, without prcclulne an enrlicr
resumption OH the part of such banks as
may find ii necessary or deem it propcr.,'
The discussions of the Conyep,iop b,ro
been animated andi able; and we have re,-
son to believe, Notwithstanding its sttinos
were held with closed doors. that however,
widely the members may have differed nm.
on other quest!ons,but one opinion prevailed
In regard TO the cause ofour financial diff
cultics-tle un,oward action of the govern
ment. MIR. Gallain, il is stated, has SIR
naliZed himself by his exposure of the
wretchcd measures Ofthe present and last
administration upon this subject.
Il here was no difference of opinion in re-
gard TO tho high obligation of the banks 10
resume specie payments the moment thew
could do so with safety. without apprehcn-
SION ot second suspension, and with due
regard to The business relations of the wholc
country. The only questions agitated re-
lated to the naming of precise day for
general resumption.
New York mot only from the rcouisi,ious
OF the law. but from its own position and
strength, desired tho shortest time, and Mis-
sIssIppi the longest. Originally four pro-
positions were informally en,e, taiued. nam
ing the 10Th of May ensuing: the lst or
October: the iSt OF January, and the lst or
April next. The Committee reportcJ IN
favor of the 1st of October. The New
York delegates moved to strike out the LIST
OF October and ins.rt the 10Th ol'NIay. The
ayes on this question were New York. In
diana, Missouri. Illinois and Mssissippi.-
The final vote for naming the Isl Monday
January for resuming was as follows: -
Aycs--M Mainc, Vermont, Massachusetts.
Rhode. Island, Connecticut, New JERSEY,
Delaware, District of Columbia, virginia
North Carolina, Indiana. Illinois and Mis-
souri. NOes-Ope from New York and two
from Mississippi.
1t IS understood that the New ENGLAND
Delegates avowcd themselves ready to re-
sumo with New York, provided they could
he satisfied todo so, irrespective of the stu
alton Of the banks of the South and West.
But OF this fact they were not satisfied
their opinion being that the business relation
OF The whole country ought first TO be so fnr
adjusted, as to enable the banks of the
Union to resume simultaneously. The
Connecticut delegates from the first avow-
ca thclf readiness to resume with New
S0rk, provided the banks of The latter would
assure them that their dcpositors were to
nc PAID III specie. The funds of the Con-
necticui banks being mostly in New York |
on deposite, they should Of course look to
the New York banks for the means of sus-
tanning their own resumption.
IL IS not TO be denied, however, that tho |
Eastern delog""ons were disnosrh ~-.""~.