The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-13
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[Csree2eAdenee Of the HERALD
PHILADELPHIA, Feb. IL, 1912.
The Resumption Bai-Ruse of the Brokers Move to
Abolish the Court Of General Sessions.
DEAR BENHErr,-
The weather il remarkably pleasant and spring.
like to-day, and city more quiet the exciting
subject of the currency than it has been for four or
FIVE days. The news from Harrisburgh by the mid
night maiis that the Resumption Bill is still in the
hands Of the committee, to which the Senate refer
red it for amendment, and it was thought would not
be reported to that body before Monday. Ofcourse
the public mind is still filed with the same doubt
and uncertainty as before and while those profess
sing to know the sentiments Of the committee, de
clare that the bill will undergo no material amend
ment at its hands, the holders of the Relief issues
and the brokers seem TO think differently, and to-
day they are bought and sold at discount of from
IL to Is per cent about half of yesterdays rate Of
discount.
This, some think, is mere yriss Of the brokers to
get rid Of the large ameunls which they had previ
ousy purchased, at discount three and four times
great as that Tor which they are new selling them
BY the time the next panic comes there will be
nearly as much Of these bills in the hands of
the community, from which the brokers can reap as
large profit before. My own impression is, that
Assemby-the.R eef issuesma be made to bear a
larger interest, which will bring them more nearly
up to par; but the BILL far it relates to Resump-
ton and the Banks, think will not undergo any es-
sential alteration. The tone OF the great mass of
the community is too unequivocaly in favor of i'm
mediate resumption to be neglected.
movement has been made in the Legislature to
abolish our Criminal or General Sessions as it is
termed. The ground alleged for this movement is
economy-it being asserted that the present Court
costs the county. thirty thousand dollars more
than under the old formation and arrangement, as
it existed before it first assumed political shape
The wings and antmasons legislated il into exist.
ence for the purpose Of providing expectants with
Office; and when their opponents Obtained power.
as the only mode of reaching their places, they were
legisated out, and officers, commanding no more
respect, put in at higher salaries Although economy
is the cause now made pr0menent for abOlishng the
Court, l have been informed, (and if those con-
cerned did not before know it they may now, and
prepare to meet ) that the real are of more
personal nature-touching some concerned in il, NOT
only regards their characters as men and sober citi
zens, but involving matter little if any thing short of
an improbable nature. The opponents OF the court
say they have now the concurrence OF the Governor
and that he will sign any bill that may be passed
respecting II that looks to retrenchment and reform
One of the Judges Of the Court publicly bruited,
has incurred the executives dispeasure. OF these
movements and sayings l know no more than is
stated in Of the petitions that fell under my eye
and the Information communicated by the person
who bore it. A town, public meeting he informed
me was to be held in few days on the subject
Yours, &c. WRAy.