The Yazoo City Whig and political register. (Yazoo City, Miss.) 183?-1840, 1840-03-20
signs of returning Eeason.

The governor Of Pennsylvania Ivan Blu
renl it seems has recently found out that
sdown Nth the banks" sometimes means
do.On Nth the people, first. The lower house
Of the Pennsylvania Legislature passed a
bill, every Van Buren, man voting for it, to
COMPEL all the banks Of that State to resume
specie payments by the 18th February. But
Governor Porter brought them to halt by a
Message on the 1st ult., from which the fol-
lowing is an extract.
During the very time that this bill was in
progress through the house the State was in
the act of borrowing from these very banks
5000 900 to save it from bankruptcy.
sit will be perceived that, not having the means
so to do, the interest this day due the Common
wealth TO her creditors is unpaid; circumstance
which the Executive, anxious as he has been for
maintaining unsullied the credit Of the Common
wealth, has been unable to avert. cannot, too
often or too impressively urge upon the Legisla-
ture the paramount duty of maintaining at all ha-
yards the public faith and credit. Whilst urging
upon them the adoption of such wise and judiei.
Gus enactments as may prevent the occurrence OF
an event rendered inevitable from the revulsion
growing out Of the unnatural and exhausted sys-
tenn OF credit with which our business community
has been inflated, l beg leave to recommend as
the best alternative which now presents ITSELF the
passage forthwith of joint resolution authorizing
the issuing of State stock for the interest falling
due this day. to be delivered to the holders of the
stock for the amount due them respectfully, as an
earnest of our determination to make provision as
soon as the necessary Legislation can be had, to
meet the exigency and redeem the credit OF the
Commonwealth.
trust may be excused in this communication
for saying to the representatives of the people r
the Legislature, that whilst they owe duty to the
wants and wishes of their Immediate constitu
ents, there is a paramount duty to the common
wealth at large, maintain its credit, to meet it,
engagements, and to prevent its character fo
| good faith, from being sullied. No man, were he
concerned alone as an individual, would go fur
Their to fix early day for the resumption of spe
Gle payments by the banks than would, if by 81
doing the desirable result would be produced
Batt placed as am, as The ETecutire Of the Com
lonteeGl, to preside her interests, Lfeei bound
to sag, regardless Of any denciation aeich may b.
poured fourth from any quarter, that IbelieUe If TOT
rigorous system Of measures be adopted to coerc
the payment Of the Liabilities Of the banks, IdMEDI
ATELY, The credit e State mast and lUlH be seri
o.1sy and disastrously affected. Let an assurance
! be given to the public that at certain and fixeC
day, within a reasonable time such resumption
will take place, and that it will then be perma
4 nent. Let them understand that the indulgence
to their debtors by the Banks, is rendered abso
lntely necessary by the existing pressure and thu
cumbrous public debt with which the State i
loaded, and no one can doubt, but that in spiri
of patriotic liberality, they will waive the imme
date exercise of positive right, for the more Ger
tain and ultimate accomplishment of what we al
so much desire. refer to the message commu
nicated to you at the commencement of the pre-
sent session for my views in detail and, @
the responsibility have assumed, leave the sub
iect to the calm and rejecting consideration of tn
Legislature"