Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-04-09

FROM Acknowledging Of any interest tsol
place in the Senate Thursday in the House sub
sequeut last notice. and up the morning session
of yesterday. Several important measures were pro
posed yesterday, the details of which follow:
Mr.. Ogden, from the Judiciary Committee submitted
written report against the passage OF the bill to
the purity felectiens. THE bill precludes from
the privilege of voting, in a ward all persons
removing temporarily into such town or ward with a
view merely therein. The bill and report went
PosT NoTEs-Mr. w. Hail. from the select com
mittee which referred TO report complete. the
bill 10 repeal such parts of the suspension law
the issues of Banks provisions which were made
perpetual by that act) reported the bill with amend
ments.
Among these was an alteration, of the title AN
facilitate the resumption Of specie payments, anatw
additional sections Of them authorsng the banks,
fer two years aer resumng specie payments and du-
ring the continuance Of such payments to issue notes.
less than 500, payable than six months
ahead provided such Post Notes should not exceed in
amount Including the ordinary notes. once and half
their capitals respectvely-and another, providing that
the banks issuing such notes, should receive coma
pensaon for loan of such notes, exceeding three per
cent.
iect was referred the Bank committee some weeks
since. The subject had been under consideration by
the committee and correspondence had been had
with distinguished fHanciers in different parts OF the
state and il deemed matter OF considerable
importance that the banks should have this power
matters having come to srisis and they having re.
solved 10 whether banks in other states resumed
or not They had assured independent position,
and IL sustained by the Legislature, had determined TO
take the lead in restoring as they had been compelled
TO take the lead in suspending specie paymeRs They
were looking with this body a. cooperate
with them and they deemed this one which
would facilitate very msch the efforts they were
making to return specie payments. Mr.. H. went on
20 explain the purport Of the anendments-saying that
the connee danger 10 result from their adop-
tion.
Mr. Mann said he should have preferred to have had
the amendments drawn with little precision and
care and in conformity with the views OF the
house. as expressed in the resolution presented BY the
gentleman from Albany, Mr.. Barnard, on this subject
He was aware that this important measure !;
but he perceived it came in here hastily, and under
impulses operating upon the gentleman from New York
(Mr w. Hall,l from wiihost, to which he Mr.. M
would never have consented TO yield for one moment
The exigency might be pressing but that would never
excuse such haste-esPecislly as this movement was
no doubt designed express 70 the bank convention
Ian important body which about to assembly, the
feeling Of this legislature the great subject of re
sumption. He (Mr. M was disposed to make that ex
preston In the emphatic manner for he thought IL
GOOD policy 10 de So Still this matter ought to be
sidered well; and perhaps it would be advisable 81
once 20 give the banks and the world, and Mr. Bidde
for he might well speak plainly TO understand that
ifhe (Mr. Biddle.) Disposed to make aggressons
rights AID interests, and tn put forth the inordi.
nate powers which he claimed 10 have and his friends
fer him-but which he mr.. M did not concede-to
retard most desirable contamination, and cripple
all efforts sound state 81 things here and
clscwhcre-that guardians Of the public inter
and power Of this into the teeth Of
foreign enemy.
Bot Mr.. M was opposed to all ,emporiring mea
sures on this great question. To produce any effect
upon the commercial community, il all important
that our measures should be taken with deberaton
and based on sound principles Every thing like ri-
fling which might indicate distrust the part Of
the Legislature Of the ability OF the banks sustain them
selves would injury rather than good The respon-
ability OF what done, resed the majority Of that
house. They had the power efficiently in this mat
Ter And he warned them, IL t.ey attempted 10 throw
strsys or sand instead Of the fixed ammunition which
the emergency perhaps required that they would only
be s where they sought to produce the opposite
effect Ass these post notes, he had formerly favored the
idea and he did bat the present attitude Of the
suesios he did think the would be eectua
But however that might be, the bill was very mper.
feet The banks suthorzcd TO issue post notes instead
ofbeise permitted make their whole circulation Of
that character should be restricted TO limited proper
ton of s.ch issues and even then these post notes
should bear small rate Of interest," which would su.
pesede The necessity or regulating the commission TO be
paid Tor them and they should be made receivable IN
payment OF discounted notes. provided In the susPen-
sion law with reference their ordinary notes he
trusted least that the bill would not be ordered TO
third reading day, lay the table with view 70
some amendments.
Mr. w Hall sssented and the bill was ordered to be
printed
The bill 10 aid IN the construction of the Canajoharie
and Catskill Rail Read, came TO its third reading
Mr. Mana addressed the house against the bill, and
In reply 10 Mr.. J. Miller.
without taking the question the house
Adjourned t. hsfpsa 3, p M.