Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-03-11
ICorrespondenee OF the Herald. ]


The Currency BIZ passed The Senate, &c &c.
The bill requiring the Banks to redeem their notes
in specie in the city of New York, has finally passed
the Senate in the shape that it from the Com
mittec. This is in accordance with the opinion
which expressed to YOU When il was first reported.
Ii was so amended in Committee OF the Whole, to
render il optional with the banks to redeem in New
York or Albany. When the bill was reported to
the Senate on Saturday, Mr.. Wagerfnove to amend
it BY striking out the w'rds cor Albany and the
amendment prevailed. Mr.. Sibley then gave notice
that he saould Monday move a reconsideration
of the vote on the amendment.
The motion of reconsideration was adopted this
morning, without debate, by vote of lato H.
The que stion of restoring the bill to the shape in
which il came from the Committee of the Whole,
was discussed until after the usual hour Of adjourn
ment, and decided in the negatively to IL, 1t was
then read third time and passed.
gave you a synopsis of the provision Of this very
important bill last week All the incorporated
banks, banking associations, and individual bank
in the state, except those dong busnesssin the
cities of NewYork and Brooklyn required to
provide for the redemption Of their circulating
notes at discount not exceeding the half of pei
cent.
Mr.. Sibley made very powerful effort to give
the banks the alternative Of redeeming at Albany ;;
but he could not succeed Col. Young spoke ner-
tincnty and ably, and for once in his life 10 the
question under consideration. The ColonePs no.
tions on the subject of finance and currency ul
ira and in respects impracticable; but they
are settled and well ened and he has the merit
Of making himself Ineligible this abstract quss
ton.
The Registry bill and the bill relating TO the II I'D
and Berkshire Rail Road both the special or
der for tomorrow in the Senate; but understand
Mr.. Verpanck goes home today, and in that event,
the Registry ball will hardly he called up; for Mr..
ramadge is President, and there will be nobody to
Ike ire ~ Al NJ is ref tn Inr
mitee of the Who@e, and Mr.. T. will be at liberty.
Mr. MAYNARD reported a bill today providing for
reducing the cost ot foreclosng mortgages in the
Court OF Chancery. There Is evident determi-
nation in both branches Of the Legislature to carry
through bills diminishing costs both in Courts Of
law and equity.
The House has been engaged the greater part OF
the day, in discussing bill authorizing the appoint
ment Of Wee Chancellor in the third Judicial dis
trict.
Your Albany CORES pondent, "Paul, the Apostle"
GU ght to sign himself paul Grout."
The information which he communicates with so
mach gravity. add which he expects will astossh
ALI mankind, gave you month since, in letter
describing the Governors bargain with Pope Power.
The historical minister TO oand is to be appoint
ed this week. Stone will not believe that the Co
vernon overlook or postpone his enormous claim,
and he is determined to stay and see IL out.
When the selection is made, Misther O'Sargent
and Stone can invite Folsom and Peter Townsend 10
y three cent snifter at Constitution Hail. and they
then execute the quartete of "Let US all be un
happy together
The impress sion is that the currency bill will pass
the Assembly without any material amendments.
r. :. Col Stone is greatly distressed because the
CORES pendent OF the Herald has the means of OBJ
tanning authentic and early information on all sub
jects that are, to be, before the Legislature
II puzzles him and the rest Of the oafers who have
been up here from your city, to account for the fact,
that the Herald paper, that they, in the pleni,ude
Of their insolence and folly have vainy attempted to
send TO Coventry, should have facilities Of norma-
ton, utterly unattainabe to the laundering boo
bies Of the Wall street press.
The mystery is susceptible Of explanation, and in
a very few words. IL the head of an establishment
is indus efficient and capable, he almost
sarly infuses a certain degree Of liie vgor and
tivity into all its ramfcations but IL the head isin-
doent feeble and inc all the branches will
of course. be sickly and useless. suppose Stone &
Co. can make the application.