Mobile register and journal., 1841-12-11


 tages of such an arrangement, if practicable, and if the system rc-orsanized as to exclude the recurrence of the aIis-management that has brought on the present emharrassments would be two fold, both very desirable They would give the facili- ties to trade which it needs much and the future profits of banking would go to reduce and lessen the loss of the state on its Bonds. But the preliminary question, is the separation of the two kinds of assets practicable ! and is there satisfactory plan for re- organizing the system of administration, vel un- announced. With every anxiety study all lbe sIlg gesions we have seen made for these ends, after yolvng the matter in minds, we confes; we do not clear way out of our difficulties ir taa direction.
 The satisfactory reorganization of State bank system, to work well at all, is an nsuperable obstacles in our minds. But if its friends have any scheme by which they promise to secure vigilance, integrity and skill in directors elected nominated for institutions in which they have only the transient interest of stranger trustees, withoc security possibility, anxious hear of it. There may he paiations to the pressing evils of the system it stands, and it may be well that they should be tried, if we cannot succeed in charging the system radical y, or abolishing it altogether. Essential changes are, however, absolutely necessary for any hope to make reduced capitals less mischeyous in their future operations, than the wasted ones have been in their past.
 But supposiug the way clear for improved manage ment, how is the separation to be effected? What shall we call, and how shall we define Suspended debt''l The Relief notes of the Bank, which have been extended under past aws would, from the long date and the character of the paper, seem to be any thing rather than aetipe debt. Notes having right to four annual renewals, at than twenty per cent. per annum reduction, and generelly wits less, extending than four years, would naturally be chased suspended; yet they are among the dis counted paper maturing and not protested. lfpaper not protested, go in suspended, who is to draw the line? great deal of current paper is bad or doubul-is that to be selected for the action of the commissioners, and by whoml so of the paper under protest, which is good who is to classify it? Sus- pended debt cannot be equitably distinguished by the mere fact of protest not protcsted where is the destruction to be made, and by whom! It is evident that power to discriminate, would be one of vast i responsibility, and open opportunities for fayorite ism which would be great to vest in small board The power of determinations too, must have its lim- it's in time, il would amount to absolute power over all the future operations of the bank. It would be impossible to continue institution in which the accruing paper might be constantly called and passed over to other hands for long settlements. It would not be long before all the assets of the bank would be placed in condition to take the benefit of action before commissioners.
 Asrea,er difficulty would be to dispose of the circu- laon. Unless it is designed that the Banks amend ed, should continue in state of suspension, proyi- sion must be made for redemption of the outstanding notes can the reduced Banks he made to pay specie for the whole of the circulaon7 If not, and nobody thinks they can, what is to be done? Will the State sanction suggestion thrown out, to make n new specicpayIng issue and discredt their old notes by making them receivable only in settlement of pending labilities2 It will be difficult to reconcile this with good aith to justify to the punctual and solvent man, the premium thus given to the delinquent debtor in allowing him the advantage of paying his debts deprecis;ad medium?
 We have answer ready to these questions; but it is incumbent on our legislators, in shaping their Bank
 
 we throw them out as matters for their grave consd- eration. in determining which, hope they will find less embarrassment than we do.
 The New York "Courer des Etats Uns" states that the Government of France has taken up in earn est the project of establishing line of steam ships between the principal maritime cites of that Kingdom and of the United States. The captain of the French Navy, M. dAubigny, recently arrived at New York, has been sent here by the Minister of Marine, with view of inquiring into the actual condition of steam navigation in the United States and of studying the improvements that have been made. M. d'Aubigny is of opinion that the close of lS42 there will be four steam packets playing between Havre and New York. These vessels will be of war model, but constructed as to serve well in time of peace.
 We saw the play of Nicholas Nickleby again las, night, and arc confirmed in the belief that 1t will have a run There are some fine points made in it. Mrs. Riohardson is perfect Smike and 'SQaiers is Chip man and Chapman is Squiers; cannot separate them. We ought to add, that tue school boys al Dotheboy Hall, acted their parts very naturally, the recollcctons of birch was fresh in them.
 For .hs Register and Journal.
 Ia the Ledger of yesterday morning, appear some very just reect,oss upon the purchase of Sterling Bills. The suggestions made as to the i obabe saiety of purchase of such Exchange in the various con iingencies mentioned, well calculated to arrest the attention both of Banks and of individuals. The subject is lad before the public, and it would be desirable that " A Merchant" should continue his ' reflections" that the many very erroneous views evertaned in regard to it, should be exposed; and hal all should know when there is safety in such pur- ,hases; and how Bill of Exchange called "specal' entities it to great confidence than one drawn in the isual mode; whether the produce upon winch it is