The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-03-30
phaaoslphta Correspondence.

PHILADELpnIA, March 81, Is4i.
The appointment of Jno. c. Montgomery as Post
Master Of this city, is less acceptable the nomi-
nee than the party, Of which he has so long been
an active and influential member. Mr. Montgomery
is universally popular, from his magnanlmty Of cha
racter and amiabty of temper. His appointment
depryes the party of the services Of an active part
zan the late circular from the bureau Of the Secre
tary Of State prohibits the officers of the General Gov
eminent from interference in political struggles. II is
TO be hoped however that the administration of Gen.
Harrison may restore the country TO that calm and
prosperous state from which Il was aroused by the
violent and proscriptive administration Of Gen Jack
son, and that we may be exempt for some time to
from such agitation has marked the last 10 years.
Were not there determination with the Loco focos
to PREJUDICE and condemn in advance the measures Of
the new Administration we might bury the Ratchet,
and smoke the pipe Of peace but il is, must be
prepared for the first encounter But of thing be
assured the great council fire which the nation has
kindled at Washington, will not want warriors to
keep il bright and burning.
In several cases brought against the U. s. Bank
for noncompliance with the resumption law Of 1910,
Judge King has decided that according to the act Of
incorporation of the u S. Bank the Legislature did
not retain the power to alter repeal its charerthat
in consequence of no such reservation being made,
the Legislature modify the charter as proposed
by the resumption law of ls4O-thst the assent Of the
Bank necessary render the resolutions Of April
3D. ls4O operative upon her of which assent there
no evdence-that the resumption resolution of April
Sd, lSf0 are applicable only to banks chartered under
the General Banking la VS. Of the State The effect
Of this decision is that the charter of the Bank not
forfeited BY the late suspenson and that it is suablc
like individuals at common law for the non payment
Of its obligations.
A bank bill which is more of reform than relief
character is now making its way through the Legis-
ature. II is the same to which adverted in q pre-
vious letter. Two important amendments have been
introduced - one authorizing convention Of the
Stockholders of the United States Bank to consider
of the reduction of its capital to $4,000 900, which,
being accepted the Governor is authorized by procla
nation to declare the reduction of the capital to that
amount, and the Bank is released from the existing
requsition to loan permanent loan Sc 900 900,
and on temporary loan not exceeding 81 100000 a
year. The other amendment prohibits any bank from
issuing paying out any other than its notes,
unless in conformity with special contract, or
with the consent of the party to which they due.
Both these amendments adopted, and the
bill having gone through the second reading will pass
the third 1t contains many salutary reforms but
to reform and relief Nothing less than forfeiture of
all the bank charters will the views of the Loco
focos. They still adhere to their original destructive
ness which they will cling to- until their humiliation
party crisis which they are seeking and which
is not very remote.
There is deficiency in our city revenues Of $243,-
1923 % this year This deficiency is to be supplied by
lars, which will give yield sufficient 10 meet all de-
mands, and leave a surplus Of Sl7,l76 a. The city
finances in good condition. All demands upon
the City Treasury have been regularly paid, and the
interest of the loans paid in specie. No new loan has
been created since 1899, and 1924, lGO of the city
debt las been liquidated by the annual accumulation
Of the sinking fund
Should the Legislature pass new taxation bill the
burden Of taxat on will begin TO be heavy and hard to
bear II is the only left 10 extrcae the State
from the difficulties that surround it. and il will be
borne with all the philosophy that necessity enforces
tain possess Of canals and mil roads which cannot
sustain themselves. Lease or sell the public works,
and they will be more useful, productive and in every
respect beneficial to the public but they
potent agents of influence in gubeInatora elections
TO be readily parted with Yours, gS
FROM THE WESTERN FRONTIER.