The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1839-11-06
Benjamin B. Thurs,on has 1896.
Thomas w. Dorr has $500.

Aud there were two votes not counted, and re
feued to the House and the Grand Commute
rose.
i AFTER,oor.-Pe;ition Of Isaac DYER a con
Wet, for liberation, received.
4 The Cloth Hall made their report that ther,
had beer no dividends since last session.
j., Mr. r. II. Hazard called up the memorial o
Freeholders of Cumberland relative to the
banks and moved that it be read again as some
gentlemen were present who had not heard il f;
several other members asked for the reading Of
the memorial.
| Mr. Randolph said some gentlemen who had
taken part in the debate were not 10, aud he
wished it might liz ill they came in the me-
moral was read again.
Mr. 4. Il. Hazard moved 10 refer.
| Mr. B. Hazard moved it's indefinite post
ponement. It was full Of uurruths and was H.
bellous IN its character their doctrines were
not confined to Aaron White and the other 5
,igners; this hostility seems rife ,hroughou
the State. and they get their cue from abroad,
and they want an executive Bank who will have
the control OF the mere hants and business OF
the country; they want an aristocracy Of office
boders; they want the control Of The currency
of the country and to break down our banks
What have our banks done wroug
The people are IN danger of an arbitrary gov
ernInent. and he was astoushed to see the peo.
pie OF Rhode Island so mistaken; about to dig
their own graves.
Mr.. Randolph was surprised to see the hos
tility Of people 10 this Assembly and commun-
~ against our banks. Every dollar thai could
have been got would have been sold to New
York to ship to England The directors had
to look to the whole State they thought it
best for the community to keep the people Of
Rhode Island employed; the banks Of New
York and Boston kept on, but was 10 the ruin
OF the merchants the merchants nave 10 come
here for accommodations. lf we require spe-
Gle for our drafts at Philadelphia. they come
back, aud what manufacturer could meet them
The consequence would be that our manufac.
tursrs would be broken up; would it not be
better that the aborers should receive dollar
that Is worth 95 cents. than TO be thrown out of
employment are these men to be stignatized
as robbers. and swimilers. and pick pockets. by
men who have nothing in their pockets to pick :;
he believed in his soul the directors did whar
was for the best, and we ought to take care of
the banks. Ii the bills were redeemed, our
0ow not enough. would be reduced
three lourhs. u gentlemen wished the man
uiacturers )roken down he did not. The Bos.
ton banks will suspend they have been kept
up by their pride as yet; our banks will resume
'ei bu' we should deal tendrrly.
Mr. i / Hdcdrd was asIonIShe ! 10 see men
ying 10 prevail over the truth: let us see
"hrther the memorssts are what they have
,een called; as TO the opposition 10 prtitlobs
or bank char%rs, II come from those who had
he control of the banks. aud wished To krep
'thers our. He believed in reasonable credit !
ystern. aud did not wish 10 break the banks
own; but he wished The banks kept straight.
DO these directors. when good notes are on
heir table. discount their own notes. and with
ne funds in their pockets. go out and meet the
anne men. and let them have money on such
erms ~ they please.
Mr. Blake was opposed to the postpone ment
he people wished something done he thought
he suspension unwise; IT WAS hest TOR the
anss themselves 10 keep their credit good
There were other memorials that would be Of. |
cred, and from men not hostile to banks sign
ID, one OF them, by bank President, aud by |
and intelligent mere hants. The |
ormer suspension was justified, but this was
lot he did not think that for one or Two men, |
hat the banks should suspend; the whole com
nuulty should he considered; you cannot pay
debt or buy dinner out of this State. with ]
thode. Island bill at par He did not think the
anks ought 10 he sanctioned in he suspension. |
| he whole subj ject ought 10 go 10 a committee
le would not take harsh measures with the |
anhs. but he thought The njnred bill holders
honld be fully indennlfed by an interest OF
ne or tive per cent a mouth, as was the law IN
when Massachusetts banks sus-
ended
Mr. Simmons said the reason he was opposed
the memorial was. because it was false and /
srcspectiul TO the House: il called the acts
the legislature fraudulent, and he was aston
he'd that members should support il: il was
ot ut production to form basis for lesisla-
on money was not SO depressed az The last
ispenSiOn. The memorial asked us 10 do
nihing. and 1t will comply with il to dismiss It.
Mr.. Blake SAID, II IL, the memorial was dis
'speclul, he would vote TO dismiss It bu he
ad not seen ii; he was in favor OF the former
ispenson, but he thought this uncaed lor.
The memorial was indefinitely postponed.
Mr. Simmons then offered a resolution as fol-
rvs:
inquire into and report To this House. the
romnent causes which have producsd the
hspensou of specie payments BY the banks in
ais State. together with such provisions as they
ina proper for the security of the people and
nd institutions OF the State during IFS ooniinu-
nce and TO answer safe and steady return to
ne prompt payment OF all demands against the
anks IN coin. -,
Messrs. Hazard, Simmons, Blake, Whipple.
nd Clark, we're named on the committee; and
ne report OF the bank commissioners referred
, the same committee.
Petition of south school district in South
.ingstOwn. was received.
Mr. T.. Il. Potter submitted bill 10 amend an
CT for relief of insolvent debtors, so that tn.
'st law should not apply TO debts contracted
rior to the act
Memorial of inhabitants of Bristol. relative to
lc suspension, was received and the House
tjourncd.
Thursday, Oct. 81.
Petition Of Rhode Island Central Bauk, pray
'g that the capital stock of the Bank ma, b,
'duced from SIS to l5 per share, IN conse
uence of losses by the bank, so tha, the Bank
i'll not be taxed for more than they hold
ranted.