Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1838-04-26
ThE Rank CoNvKNTIoN.


% ThE BANK CONVENTION. =
The Convention adjourned sine de on Mon
day afternoon. the 10Th inst bSvine previous
y agreed upon the fTni Monday Of January
mart a. the period Zoe the resumption or specie
PSymentS The following account Of lie clos
ingProeeedius. is from the New York Express:
The Bank Convention adjourned
sine cite, yesterday afternoon, after O
long and wordy session. On Saturday
the delegates from Maryland Withdrew.
The debate on the report fixing the Is,
OF October for the resumption was con-
hnued at great length. The object ap-
peared TO be TO barmonize, and thus,
by spirit of compromise, TO agree on
some period when oil should unite for
that purpose. June, July, and other
months were named, but there was
not found a sufficient vote 20 settle on
either OF the months, when finally the
hrst Monday in January was adopted,
thirteen States voting Tor it, and two
States, viz: New York and Mississippi,
agsinstiL
The twolatter. although voting in the
negative-thus voting from reasons
wholly unlike in feeling. New York
wanted May, and Mississippi a year
hence. Mary land was not represented
IN the vote, nor VAS Pennsylyania.-
New York was unyieldIng. and show.
ed no spirit OF compromises alleging
The law Of the State az bar. All re-.
presentations from other States were
wiling 10 yield. AIR. Gallatin urged
with great rarneSiness an early dav.-
Some Of the gentlemen supDossd tina,
putting of the day would be a victory
for MIR. Biddle, or the United States
Bank. and all these considerations were
dlsclaimed; yet II this is correct. New
York is coniending Tor immediate Ie-
sumption, and the United States Bank
Tor remote day, and the decision has
been made in favor Of Mr.. Biddle.-
This position, however, is not one that
any Of the Convention took.
The New England States, some OF
them at least, were ready to resume at
a days notice, but the Question was not
what would suit them best, but what
would be most judicious and most bene.
heial to the South. as well as the East
and West. The proposition which has
been adopted will not interfere with the
conduct OF any Bank, as any, all or
none, are at liberty 10 resume at their
pleasure, but IL is incumbent on them
TO resume by the first Monday Of Janua-
~ next.
The session is now closed, and al
though there was good degree Of har-
aony among the members, vet il was
not to be supposed that all sections OF
the country were situated alike; New
York, particularly. is in a position Of
great delicacy, and however much she
may wish to prolong the day. she is
under the absolute necessity Of resum.
ing in May. unless the Legislature alter
the law, Of which there is no prospect
at present.
II IS hardly TO be expected tina, other
Banks that are not bound down BY
their States, thould voluntarily place
themselves IN q condition with New
York. There IS preamble 10 the re.
solution, expressing hope that The Go.
verBment wall co operate in the plan
agreeably 10 the private letters that had
been received from the me nbers Of the
Administration.
The preamble and resolution which we're
finally adopted arc - foIlousi
Whereas Il is found Necessary IN
order TO Simultaneous action by the
Banks IN the resumption Of specie pay.
menis, 50 10 proceed in designating
period for That purpose as 10 secure the
nearest approach 10 unanimiiy-and
vherea'. hilsi in the judgment of this
Convention. the return 10 specie pay.
meats snd preservation 81 the corrcncyI
~ sound condition. uill depend e..
sentially on ihe course &C the General
Government. set this Convention re-
CARDS u az the duty Of The Banks 20 make
The effort IN good faith. exclusive Of an y
direct Teiereaee 20 the prospective
measures ~ lhe Coz, ernmont A. the
SAME time ihe Convention has been
happy 10 observe 30 recent letters 81
the Secretary of tbe Treasury. specific
assurances Of an Intention 30 sssfain
The Banks % far Is Il may be done
through SIRE 6scai opefalioas 81 dat Dc
pafimeni ol tbe Eoyernmeni--
"Ref0lred. That il be recommended
20 all Banks 81 ihe several States 10 re.
sumo specie payments o. The frj
Monday Of January nest. without pre-
GLIDING 40 earlier refumpiion on ths 4
pert Of sseh Banks 81 NAY 6nd Il ne
eessary % deem iiProFaT.@