Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-01-16


since the publication Of Tammany Hall. The Lo-
cos are in qaandary just at the present moment
They cannot manRuvre as they used 10 40 DeiRg In
the minortyln the popular branch Even the Argds
that in former days teemed with Oraces every iaor
nlng fresh from the tripod is dumb. The bells OF
Mr.. CrosswelPs Dodona tlnke no more. ihey
mnst be IN the condition OF your great alarm DELL
The Wings 100 have laid up their oars, and their
boat is now under weigh from its previous momen-
tum. They are disputing for the present. about the
ProPrety OF gettiug lup weekly paper mere, 70 De
called the Jefersonian, 10 be edited by Mr.. Greey.-
II Is intended 10 be an andote tohe POISONOUS ex-
ira Globe.
In Senate, this morning Mr. Young made fu-
ious Locofoco speech against the Bank Of Rome
This Bank had omitted 10 file IN the Clerks office an
affidavit that the capital stock had been PAID H.
She prayed 10 be allowed TO do II new, as 1t had
been overlooked. The penalty Is forfeiture of char
ter Mr.. Y did not see why We should be in haste
TO re-charter this Bank. The bill was referred TO the
Committee of the whole
The Banks have been called on by the Senate to
state what amount Of the small notes formerly is
sued by them not &c, cancelled still OUT
Petitions are still coming IN demanding a repeal of
the small note prohibition law.
lFrem our correspondent BrousAam. No. KILL
ALBANY, l4th January, 1889.
Mr. Patterson in his remarks yesterday upon the
question of adjournment alluded 10 a general bank
law. He said, that measure would accupy at least
period OF three weeks for discussion, Ii the committee
to which the subject referred should report bill
This was a significant IT, There 10 more in the phil
osophy of the wings than you or dream Of Ger
tam gvines out Ia certain quarters induce me lie be-
lleve that this great measure will be given the go
by. If such is TO be its fate, the allegation that
the majority the stannch friends of the banks
will be held up ia strong relief by their opponents and
with truth that will even startle the wings them
selves. 1t is beginning TO be doubted whether a gene
raj bank law wosd not be in direct violation Of the
faith of the State already pledged 10 nlnety-six
corporations They say occupies TOO much
ground. Ii shows the whole banking business
and If put in operation, II will undermine and de-
srroy the corporations already in existence. This, it
is argued, would be unfair and UNJUST, as capitalists
had embarked in the banks already established on
the belief that they would be protected in their rights
and risks The influence of nearly 100 corporations
is not TO be trfed with My frm conviction is that
no general bank law will be passed this session.
The ocos seem 10 be convinced Of this fact for Mr.
Mann in enumeranng the reasons why the Hoase
ought TO adjourn on the Sd of March never aud
ed 10 the project, pet as II Is with that party. bill
may be introduced into the Senate embodying the
recommendations of the Governor but il will never
pass the Assembly.
II must aot be disguised bur that the sole policy OF
the loco.oco democrats totally destroy the State
nsututons-not snce, for that would be bad policy,
but by degrees, done with the Philadelphia
monster The movements Of the party in The New
York Legislature and in Congress bring us TO this
conclusion irresshbly, urged this tendency Of the
policy of the locos, the other day, in convers alton
with distinguished leader of the gang, and he made
no hesitation saying that the real object of his party
was TO overturn the banking system at present
organized and T. get up other scheme by which
the labor of the country could be brought into sue
cessful competition with It's capital A genei nj bank
law will facilitate this object in two ways. Ii opc-
rate well the cry will be-no mere special incorpora
tons and no more renewals OF charters III operate
badly, it is than probable il will the whole
system will grow odous that nothing will satisfy
the public but an abrogausn OF u. The locos know
and see that the agitation of this bank question is the
,,.,I
in this State and continue 10 keep hold of the rens Of
government at Washington.
But the great desideratum to be accomplished by
general bank law IS the union of sufficient amount
of capital for banking purposes in your city &c counter
act theinfuencs Of Philadelphia. consider all hopes
OF efecting 80 desirable object by this means
trely off, What shall do . Shall we lie sun
and see Mr.. Bddle WELD the whole money power Of
this vast country and concentrate II IN rival city 7
No. Let our capitalists, our merchants, our indus
trous citizens petition the Legislature for a State
bank at once with capital Of 35 or 40 millions Of dol
lars Nothing is easier than for the Satets set such
amachne in motion, and do believe that the Legs
la,ure would grant such charter proper steps be
taken to secure il sooner than enact general bank
law. know that the branches at present in exist
ence will oppose tooth and nail, bat shall they be
allowed TO dictate when the interests Of this great
State are vitality concerned
But we may talk I'LL doomsday. Nothing will be
done The city of New fark, distracted by adverse
interests destined 10 become The Havre of Phlla
IN the language OF the Oh the ulreC-
tors Of the Erie Railway. We shall have general
Bank law, no special partnership law no State
Bank-but we shall plod along as we have heretofore
done, the tender OF Philadelphia. The scepire of en-
pire has gone from hands and in 1910 il will be
held by Ohio and Pennsy vania Nothing can ever
bring II back but prompt action at once on our part
Make New York the money centre of the Union, and
all will be right.
Ii we unite all our energies in great State 1nsu-
tion we can save the banks present in existence,
defeat the wicked inten,s of the ocos, wrest the
ney power from the hands Of Mr. Bddle in spite of
HIMSELF and 90 on conquerine and to conquer. But
while we bcker among ourselves, quarrel about small
bills, suffer the domination of SO institutions, and fold
aims ia the conscousn OF our security because
our safety fund banks tell impregnabIe,
New York, the still powerful State of New York,
will fall from her present height, and be the laughing
stock Of our enerPrizng neighbors.
Now too, Is the time, the very nick OF rme 10 es-
tablsh State Bank. The fear and jealousy with
which the Londoners regard Mr. Biddles move
ments, would ensure TO any amoun, Of capital in
erecting nval institution TO that of the Bank of the
United States The credit Of the state Europe is at
the highest point and her bonds would be eagerly
sought after. On the other hand, The establishment
OF such an institution would facilitate If not INSURE an
immediate return 10 specie pa yments. Why will not
the New Workers rouse up from their lethargy Why
will they not Trim their lamps and ge, ready TO
pete with the Phadephians Or are they so bound
hand and foot 10 Philadelphia interests that they dare
net move