The Madisonian. [volume] (Washington City [D.C.]) 1837-1845, 1841-05-08
aphtIanelphta Correspondence.
PHlLApEI.pnrA, May 1, Is

PHILADELPHIA, May !, 1871.
The Legislature has now before it a bill providing
for the sustaining Of the State credit It is founded
on a Compromise bill reported by Mr. Johnston, of
Armstrong. 1t is the result Of three months de-
liberation and while enient to the banks is just to
the people, Necessary and useful as u.s. we are in
formed il will be vetoed by the Governor This sthe
last attempt Of the Legislature to provide for the pay
ment Of the Liabilities Of the State falling due in Au-
gust next All its previous were negatived
by the Governor. If this, also, should be vetoed,
most serious blow will be inflicted on the credit Of
Pennsylvania. The responsibility will rest with the
Governor, who has neither proposed any measure
intimaed his Wishes but has steadily opposed himself
to the acts Of the Legislature Such is Loco Foco
sympathy with the honor and standing of Pennsyl-
vana. g,f III 5 lsss3
A clerk Of the Camden Bank has robbed that insti-
tuition Of $4,000 The example Of Lewis and others,
Of more respectable viainy is contagious. Il is sup
posed that he, like Lewis, will be permitted quietly TO
enjoy his booty This is all owing to the laxity Of the
laws with regard to the Banks. Why are not some
Of these gentemanly cashiers and clerks lodged in
the Penitentiary like common highwaymen7 Isrank
and wealth 10 screen them from punishment An
example would be salutary at this time
Philadelphia has lost $50 600 900 by the late Bank
disasters and commercial endorsements and yet to
the eye Of stranger, there visible signs Of dis
tress. As many houses are building as ever, and
ough there is diminished activity among the larger
houses Of business yet trade in general is brisk and
with the shipping merchants on the increase. The
city already reyving, and before another year shall
have passed away though losses win continue to
be felt their poignancy and force will be much miti
gated. new and growing trade by the Tide Water
Canal of the Susquehannah is now opened, and,
should Congress lay an increased duty on foreign
COAL coal fields will be much augmented in value
The trade to the West also is much on the increase
from the reduced rate Of tolls on the canal and rail-
roads, and our manufacturers Of roD machinery, and
domestic goods, have orders TO amount which it
will take some time TO meet The natural wealth Of
Pennsylvania, inexhaustble as II is, makes her the
richest State in the Union. Our present embarrass-
ments are rapidly passing away, and as soon we
get rid Of the incubus Of the United States Bank we
win be free to of prosperity chasten
ed and admonshed by the experience Of the past.
The root Of ALL however, lies in bad legislation Wc
antintegry and honesty in our Legislature as well
as capacity.
There is no improvement in Stocks, nor will there
be any until the fate of the Revenue bill Is known.
The custom-house is undergoing publication. u
needs il as well as the postofce for they have both
abounded in oicions ntermedders with the elections.
Can il be rse that J. ~ Barker is to be appointed Su
perintendent Of the Arsenal Frankfort when there
are SO many deserving Whig applicants3 KS.