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

From our Evs.i.g EdssDs Of yes'er~a
Inportamt from AIbany.-Thc FheA
and an banks I'm danger.

I~u@~tamt fwou, Abauy..Thc Phenhx nsnA
and an banks I'm danger
Nv the .,.am beat, arrived early this morning, we
have r.ce;ved the violent ocsfoco proceedings OF the
Assembly. which took place yesterday in Albany. Ihey
will be found annexed
A majority of the recreant Wing members. are now
IN full communion with the locofocos Mann and King
The latter say, gentlemen the guillotine is ready
which head shall take off hrst?" "The Phenix
Bank" VERY well-here goes"
Was there ever such terrible piece Of treachery,
as that perpetrated by the seeding Wings
LEGISLATURE OF NEW YoRK.--IN SENATE. April 2.
Mr. Moseey presented the memorial Of Pierre A.
Parker and several other citizens Of Buffalo, for re-
peal modification Of the restraining law and them
corporation OF Bank in the CITY OF New fork' with
capital not less than S30,000.000.
In ASSEMBLY. Monday, April 2.-DRY Dock BANK
Mr.. J. Miller from majority of the bank committee.
which directed inquire into the condition and
management of the Dry Dock Bank, submitted report
with the facts elected by the committee. concluding
with the remark that the majority of the committee find
ousable warrant under the provisions OF the reso
luton directing the investigation 10 report OIL TO re-
peal the charter OF the said bank and asking leave
be discharged from the further consideration OF the
solution of enquiry
Mr. p King from the same committee, remarked that
he presumed the report and testimony would be refer
red to the committee of the whole before taking any
ton t-being the report of majority OF the commit
tee--himsef dissenting.
The Speaker inerposed-saylng that TINS presump-
ton depended altogether the order of the house.
Mr. p. King supposed he could presume thus far and
particularly after saying that he disagreed with the
jory, and thought the testimony would authorize diff
ferent conclusion At all events. he presumed the
house would the repeal until the testimony
had been printed and laid the table. Meanwhile he
designed ask leave introduce bill. from the mi
nority to repeal the charter and that both the
bill and report be referred to the committee OF the
whole.
Objections were made by the Speaker. Messrs Bar
nard and G. w. Patterson on the ground that a COM
mittee could mike buone report and that the bill could
only be introduced notice-Mr. p King claiming
that it was usual to allow minority TO submit their
views whether in the shape offs bill otherwise he
supposed would make little difference. Pending this
conversation the house refused refer the report
committee of the whole
Mr. P King finally was permitted to explain verbal.
ly his for reporting bill to repeal the charter,
and read part the testimony reported, with view
to dssuade the house from acting the report, 1.-THE
question being discharging the bank commiuee
til they had examined the facts-claming that in this
case as we'll in that of the Phenx bank, members
should decide for themselves without relying the
port Of any committee.
Mr. p King went on to show from the testimony that
by Of kite checks falsely certified both by the
Dry Deck and Mechanics Banks, the Arm of Bullock
Leonard Co.. brokers, were enabled to draw large
amounts of money from both banks-from the former
alarger than the capital of the bank, coate
raj security for which, they deposited the which
they had shaved with the means thus furnshed-that
the evidence these facts and the solvency Of
the bank was not as full as he could have wished but
that in this matter, he was overrued by the majority,
&C. &c.
After further conversation the report was or
dered to lay the table, to be printed and the commit
discharged.
The PHESx BAsK-By Mr.. Lawrence-(In pur-
to the order Of the House ITO repeal the char
ter Of the Phenix Bank.
Mr. Taylor rose object to the action of this House
this BILL He had voted to instruct the committee to
bring in this BILL and he had acted in favor of such
bill and he wished now his for taking
a contrary He would briefly say, then, that he
believed himself wiser than he had hitherto been,
in relation the right Of the Legislature take away
charters In his view Of the question the guilt limo
Of the institution had no relevancy.
He believed that there such thing Vested
Rights and that they had been known and acknew
edged until Few years since He doubted the Con-
s,itutional power Of Legislature to alter, amend or
take away charter except upon the application Of the
corporators, and by constitutional Of thirds.
The power Of dssolvng charter forfeited by miscon-
duct is judicial and a legislative power. None
such given the Legislature BY the constitution He
the doctrine Of repeating charters the
essence of Locofocoism.
spirit of insubordination law, Of impotence of
its restraints Of defiance its authority, is already
widely spread and pervadng the whole land. 1t was
but few days since gravey argued that the penalty Of
murder must be abolished because could longer be
enforced-beeause no jury could be found convict the
murderer The same spirit has already destroyed the
laws fer enforcing the collection Of debts eecsally
that the who has q small claim against dishonest
debtor may better throw il into the fire than attempt 10
collect it. The debtor may shake purse in his face and
defy him to collect his demand.
Sir said Mr. T., this spirit Is which should be
irdput down, not encouraged and submitted to- The
power to take away chartered rights pat down by
fbeSupreme Court, in the celebrated Dartmouth Col
ege the great satisfaction Of large majority Of
the people The power which here propose
ercise is judicial power il is nothing-we have al
ready acted district attorney, Judge grand jury
about the functions Of petit Jury to
pronounce judgment and then perhaps Of the execution
Will any man this subject exceptas juage7
But who constituted judicial body 1 protest
against the whole proceeding usurpaton and
Publishing precedent destructive to the security Of our
rights and our liberties.
Mr.. G. w. Patterson would not now discuss the
question Of the forfeiture Of the Phenix Bank Charter
He could only express his astonishment the course
and the argument of the gentleman from Ontario. He
(Mr. P1 was no lawyer. but he did pretend to know
something Of the provisions Of the Constitution Of New
York. and Of the express provision contained in the
charter Of this bank that the Legislature may any
time alter modify, repeal it, With this express pro-
vision before his eyes, the gentleman from Ontario
gues that Il would be usurpation exercise the pow
err here reserved. IL there be ANY sense in
this am unable to perceive IT,
Mr.. Mann thought the gentleman from Ontario had
happy faculty OF conurng up the Of tyranny,
despotism and the like. He considered the power Of
repeating charters ndisputaby necessary one and
its assertion by the last Legislature most sautary and
rjghtful action. II formed and conspicuous era
in our Legislation Mr.. M concurred with the gentle
man IN regard to the importance Of preserving the dis
L. l.