Mobile daily commercial register and patriot., 1841-10-27

THE BANKs-SPECIE PAYMENTs-Among the important fruits of the late democratic trumphs in some of the states, will be the termination of the suspension of specie payments by the banks. In Ohio the charters of all the banks except eleyen expire in 1S43. The most important questions of the canvas there, turned upon this subject. The next legisla- ture, which we hope will be democratic, will have to decide upon the recharter of thirty of these banks which have forfeited their privileges by sus- pension, The probability Is, that they will not be renewed, If they should be, the bankrupt law will seal their fate there, as it will in of the other states, The sooner these insolvent concerns are wound up, the better for the Country, Drive out the paper which fills up and overhows the channels of circulation, and sound currency will flow in upon the people. The following extract from the money article of the Herald, shows how the specie goes, and contains more sound philosophy and practical than all the bank speeches of the past congress-
 i" There was some drawing of specie from the debtor banks to day for remittance, and the amount shipped will not be far from $500 .OO0. The Well linglon has on beard for London $20S, ,0O0. This is a mere trihe, however, and will in ways inconven- iencs the hanks, which overaowing with specie, and must continue to be while the specie of the whole union is driven here by the irredeemabIe cur rency of the South and West, The people of those sections continue to prefer the appreciated paper of fraudulenty insolvent banks to the currency of the constitution, The consequence is. that New York having superhuity of specie It goes to Europe, be- cause it is more in demand there than in those states where the community reject it in favor of bank rags at the same time they complain of what they call high rates of exchange. Nearly $50 900 arrived here yesterday from New Orleans, where the people to- crate the shin plasters."
 In Pennsylvania, similar results, trust will fol- low, from the prevalence of democratic principles in the legislature. The election has turned largely up- on the question of resumptonI and as there is no longer monster money power in Philadelphia to buy up maorities in the legislature, have strong hopes that tho will of the people will be respected, and the banks forced resumption, if they can or surrender of their charters, if they cannot. This is the only course. There is middle course to protect the community from the further ravages of depreciated currency. It is cheering to how the people of this country are waking up to the iniqu- ties of the fraudulent banking system. In Georgia, Mississippi, Michigan, Ohio, Virginia and Pennsy- vana, mighty movements are going forward to rid the markets of depreclated paper. The simple ex- pedent ofthe Macon specific" is taking like wild fire all over the country. This is nothing but de. termination among the Macon (Geo.) merchants to take the notes of the banks of Georgia at their specie value only. The same thing has been done in Au- gusta, and the effect Is. according to the Charleston Mercury, that in Augusta, exchange on New York is already quoted at a It, instead of To per cent The same plan has worked admirably in Michigan and in Wisconsin; the farmers by refusing to ceve the paper trash for their grain, have swept the territory of depreciated paper in an incredibly short time.
 One of the democratic delegates elected the other day in Baltimore, repeated pledge made before the election, that he would use his best efforts to compel specie payments from the solvent Banks in that State, and the nsovent to wind up or forfeit their charters.
 In Virginia, powerful movement is being made