Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-03-04
Correspondence of the Herald.)l

ALBANY, March z
TIE Heidelberg War-Point of .Order--Redemp-
tion Of the Country Notes in Neqc Yoys - Misthur
John OSa,geant, &c
The Assembly have been engaged through the day
private bills and matters OF local inte Sc merely
In the Senate there was small fare'ap on 3, point
of order, IN the of which Mr. Sibey admins
tered well deserved rebuke to Col. Young.
Mr.. Lee reported bill for paying that portion
of the militia who have outlived the fatigues and
dangers of the Heidelberg war, with an amendment
providing further payment OF the troops from Mont
gomerv coanty, nine hundred of whom came to this
city with great alacrty and bravery just in time to
hear that the campaign was ended, and that their
claim for glory and grog was postponed to another
occ ason.
Mr.. Edwards then offered resolution calling
upon the Governor for all sorts of information reat
ing to the Heidelberg difficulties The resolution is
drawn up in the most awkward and confused man
ner imaginable. Questions are propounded to the
Governor which, from the nature OF the case 1t is
impossible for him TO answer In fact, so prePoste-
rous are SEINE of the cries. that Col Young
himse suggested that the resolution had better be
modified. At this stage Of the business, Mr. Fur
man moved TO lay the resolution on the table dis
claiming at the time, any disposition to evade
the consideration Of the resolution, but from wish
that business of more pressing importance should
be taken up,
Col YOUNG then proc eeded to discuss the resolu-
ton Gen Root called to order, on the ground that
on a motion to lay the table, the merits OF the
question couid not be debated. MIR. Tallmadse, who
is President of the Senate, the Lieut. Governor
being sick decided that according TO the usage OF
the Senate, the motion TO lay on the table was
debateable. Gen. Root appealed from the decision
Of the Chair On the appeal debate OF an hour arose
Col. Young insisted that the merits of the whole
question were in order lie said that the distinction.
between the motion to lay the table and the ques-
ton itself was a metaphysical one. That such dis
o., had hefo heen he A r..
Sibley retorted upon him with great effect. i he
appeal finally withdrawn and the resolution laid
on the table.
The substitute proposed by Mr.. Maynard, for the
bill requiring banks to redeem their notes in specie
in the City OF New York, then taken up in Com
mittee of the Whole. The substitute, as j under
stand. was drawn up at the suggestion OF the Free
Bankers, large number Of whom had meeting in
this city fortnight since.
1t provides that every monied incorporation,
every banking association and individual banker,
except thosei in the cities Of New York and Brook
lyn, shall, or before the first day oil May next,
appoint an agent in the city Of New York, for the
redemption Of their circulating notes
In case Of an omission to appoint such agent, the
duty Of making the appointment is devolved on the
comptroller.
The comptroller is directed to publish list Of the
agents in the paper and in at least two OF
CITY papers at the expense Of the banks bankers
The agent is 90 pay demand all notes at a rate
Of discount not exceeding one hall OF one per cent
A refusal TO redeem notes on demand, subjects the
rate Of twenty per cent per annum on such notes;
and il redemption and payment OF interest is re-
fused for twenty days, Incorporated banks forfeit
their charters and banking associations or bankers
subjected to the penalties provided IN the fourth
section Of the Free Banking Law Of 1883
ANY number Of the banks or bankers are allowed
TO raise Joint for the redemption Of their notes,
but the agent is prohibited from purchasing any cir
culatng notes at a discount of more than half per
cent.
The last section provides that no bank or banker
shall take mp their notes in any way at less amount
than their face.
The bill will pass the Senate without amendment,
and probably the House also. The Senate adjourn
ed today without going through with IL.
The Courier influence is pressing Misthur John
OSargeant the Governor, for the mission To fol-
land. He has peremptorily refused TO give hi N the
station, but IL is possible he may be ovcrruled He
cannot make foolish selection, unless he takes
Stone Sargent is green Yankee, utterly ineampe-
tent to the duties, and perfectly useless in political
point Of view. I do not think the Governor will
permit himself to be driven into his nomination.
We shall see.