New-York tribune., 1842-01-25
Sew.York ae2isIature.

SATURDAY Jan. =, SO
In the SEsArE, the bill 20 extend 10 1871 TIE
time for the completion OF the New ork ana ~
bany Railroad was reported and met By Dir. Doc
Zee with propositions ,sa, unless 100000 should
be spent on the Southern hall OF his Road WITHIN
wv. years. the extension oi time should be t4lt'
tina, ne part between Greenbush and Iro. should
not be bull, till 100000 had been spent as aiofe-
said and tha, no person should vote Tor Directors
VINO had no, paid up 10 per cent. on his stock.
Objected 10 by Nh Strong, and laid OVER
NJ. FcRNAs moved tina, the Judiciary Commit
ice BE- discharged from farther action on ne he'o
solutions favorable to General Bankrupt Law,
Opposed BY MessrS. Strong. Foster, and RANK,
LIN. and de:es,ed-Yess 10, Nays lo.>9 TIE
subiec, sleeps With the Committee.
Gen. Roor spoke farther on tie anti-RepadiAiiHs
resolutions. wthou, closing. Adjsurssd.
In the ASSEMBLY, several petitions were pre-
sene,: for the renewal Of The charter OF tho North
River Bank. one OF them headed BY Hon.=CamP-
bell P White.
Mr.. GRANT gave notice Of a bill TO abolish The
Office OF " alter Commissioners Mr.. SwAcRHAAER
of one 20 forbid The Federal Government establish
ing a branch Of any Fiscal Agent Exchefuer'= or
other Fiscalty, in this State
\ bill TO amend The Revised Statutes in relation
10 Executions on judgements and Appeals was
was considered in Convention and passed.
NJ. LAWSON offered resolution OF inquiry into
The expedieacy c: Reducing the pay of Members
OF the Legislatsre which was rejected
The Governor transmitted 10 the Senate the
following Message:
THE BANK RECEIVER LAW.
EXECUTIVE CHAMsEa, ALBANY, jan ., is+2
ToTBE SEsArE-I nave received q bil! winch
originated in he Senate. entitled An act 70 re-
peal an act entitled An act respecting the appoint
men. OF receivers OF moneved Institutions, passed
April 9th. l84l and 10 limit the compensatlonoi
receivers.
The law thus proposed 10 De repealed, was ap-
proved By me- not simply from m accustomed de-
ference TO the representatives OF the people oNs
under belief thai rs provisions would nave
salutnrv effect in relieving the Court OF Chancery
from the duty of comforting appointments which
had come to be regarded as constituting no neon.
siderable official patronage and thus in accordance
with the spirit OF my previous recommendations
abridging the aris,ocra,c and oversaadowlng
power OF that Court. Il seemed TO me peculiarly
proper also 70 vest the power OF designating re.
ceiyers in the Bank Commissioners, on account OF
their intimate acquaintance with the affairs OF IN
solvent corporations and with the general financial
interests OF the country, while it believed that
the amendment of the law as TO permit receivers
10 compromise and compound doubtful claims AM:
demand, would be at once humane and beneficial
in securing creditors of such corporations against
losses by delays and litigation
Not al all doubling that the Legislature nave eN'
amred the subject in all its relations and with
better information than possess, may, rerer;lle-
less be permitted TO sbscrve that nothing mas
come to nv knowledge during the nine months
which have elapsed since the law went into effect
to produce belief that it has operated lnlHrousiy.
But the general responsibilities of making laws
rest with the Legislature, while upon the txecu
tive are devolved only the duties Of recommending
measures, and Of rejecting, for sufficient causes
bills originated and perfected BY the Representa-
tivcs of the People. Although the Executive
might reluctantly feel himself obliged to interpose
objections in a. case where proposed law should
have hastily and nconsideratelv passed the Legs
l.turc or should contlavene the letter or spirit OF
the Constitution, or infringe rights or impair the
necessary ethcency OF the Executive administers
ton, or invade tho constitutional appropriate
powers of any department of the Government, or
threaten any p-rva!ing or lasting injury to the pub
lie welfare or shoul! tend produce inequality or
injustice, deeply compromise any recognized
principles ofrepubiican institutions, yet the person
administering the Government could not interPosc
objections to less important bill. upon The mere
ground of difference OF opinion concerning their
exiledency, without assuming an undue share
of legislative sponsbility.
Applying these principles to the present case,
have not thought it my duty to eEnbarra5s the ac-
ton of the Legislature, but, cheertully condng IN
their superior wisdom, have approve. and signed
the BILL awaiting myself of hs occasion TO submit
all explanation, inasmuch the proceeding iii.
wolves apparent Inconsistency, winch might
lead TO misupprehensions concerning my views OF
the policy Of the MEASURE.
WILLIAM II. SEWARD
Passage of ihe Treasury note Hill-Bhc
ApporIionMchii in the House-dlr. "A d.
rampant, sc. sc.
Correspondence OF The Tribune.
WssnIscros, Saturday, j.u. %.