The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1840-07-17

On the 3lst of Oct. blouse Journals, page ll5)
House took up the Report of the federal mi
Fty of the Committee on Banks, when the first
pollution was read as follows
Resolrel, That in all future Bank charters,
stockholders shall be requiredto pay in hetuH
bouat of their capital stock in gold and siirer,
fore then go into OPERATION; and shall not either
Fectly or indirectly, mithdr0w any portion Of
same.
This proposition we have examined before in con-
hsidering the proposed amendment Of MIR. Miner
Manchester, to the Report of the majority, and
We only a suggestion or two to add.
1t is evident that the federal leaders were thrown
% a quandary by the report of the majority from
fact that it took the minority week to conjure
any thing they could agree upon. They had
Fen the democrats rope and hoped they would
hs themselves; but instead of that they merely
bposed to carry out the measures ofretorm which
party had profcssed before the people; they
tre moderate, firm and judclous, and who cOnld
ub, that the people would sustain them' What
lrsc then should the leaders of the tedeUliss
bpt F.! This subject of Bank Reform (hey rca-
hcd) had given some thousands of votes TO the
mocrats, and they must contrivc to upset this
Ectionccriug hobby. They finally concluded to
t-locofoco the locotocOs--to 90 from the old ir-
ponsbc system to bank destruction, at single
und and in the space of sir dayS brought forth the
bort of which the above resolution is Il part
Enlv supposing that the people, "ihc Simpleman,
i John Hams, one olihe founders of their faith
build sav,) would not see through their inconsls-
hey, their insincerily and hypocrisy.
And how did this proposition compare with the
responding provision under the old system BY
Ference TO the charter of the Bdnkof Rutland
Ind we believe all the old charters are alike, or
arly so, in this respect y we find that the capt.
stock was $1,000 900, and that the stockholders
bro required to pay So, on share, or 10000
the whole, before putting the Bank in oppcraiion
tnat the difference is 10 to |. Was not this a
bs, extraordinary leap for the friends of the old
stem to makc'
Ii cannot be said that this was an inconsideratc
ID irresponsible act. The report came from the
nority of standing committee Of the house,
under consideration for week, and doubtless
ID the concurrence and appreciation of the party
fore il was made. but 10 proceed;
Mr. Porter, of Hartford, moved TO amend said
koluion by striking out the words "the full a.
punt and inserting in the place thereof,he words
Dne haf.'
And the question was stated will the house adop
proposed amendment (pagc ll6.(
The yeas and nays we're demanded and stood
as ZIG nays sO.-Of the so who voted in the
patiye. "A were frderaists and 10 democrats
ID among the 10 who voted in the negative, we
ticc every .feieralia representing a torn mher'
IRE is Bank, excepting Mr. Freeman, of Guild.
H. and Mr. Huntington, of Vcrgenncs who did
vote, to wit: Baxter, of Burlington, Chandler
Woodstock, Coolidge of Windsor, Speaker,
pwdy, of Middcbury, Hodges, of Rutland, (on
resleat of the Bank,) Miner, of Manchester
rnncy of Ncwbury, Wells, fBra,tleboro, Went
pr,h, of Rocking ham and Young of Orwell.
DO you wish for further evidence to prove tina
ere was combination to defeat all relorm'
". Patriot.