The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-12

Total loans. Sies5 -vo
These loans made generally six per inte-
rest, paid in advance. The loan from the Manhattan
Company of June "a, renewal Of a focmer lean.
The loan of August a. is renewal Of those of June
Joseph s. Lake is the cashier of the Bank Of Wooster
and is himselfhe commissioner hence the loans from
that The loan from Barring Broth was a bill
drawn for fs5 against stocks in their hands OF the
from the Franklin Bank $50 fell due the
of November, and was dishonored. The commissioner
could do than draw Ss2S from the State Urea.
sury pay the interest in advance to January To- when
il again falls due.
There is good deal of excitement in relation 10 the
possible repeal of the bankrupt law, which passed
at the extra session, and is to go into operation the
LIST proximo. 1.-THE Law had included banking instiu.
tons there would have been great objections its
operation. The banking interest throughout the
try was howeverpowerful enough TO exclude corpora.
tons from its action Since its passage, mataze refec.
ton has shown them that the operation of the law
cutting off their doubtful assets will operate power
fully upon their interests if banks actually in
cuded. They have therefore aroused themselves, to
force its repeal and backed by the foreign manwactu
ring and importing interests there is probability of
their being successful.
is to be hoped that the great State OF Pennsy
will adopt plan by which she will be able
her Indebtedness The position and of that
State OF nature render the pay of her debts
markets with anthracite coal or this mineral il sends
forth 900 900 tons per An imposition of tax OF
81 per would materially interfere with the trade
which Is, and must for years be to Pennsyl mo-
nopoly. The operation would be throw tn. burden
OF debt upon the OF coal in other Stair,
and the state credit would again raise itself
We have received the message OF Governor F.itsela
of Maine. 1t is short clear decided and touches ygor
ously aAi ponedy the great subjects OF interest be-
fore the people The debt of the State is 81 7OOpCo
This has arisen from bounty corn omission of lax.
es and "lor expenses incurred in resisting the attempt
of foreign poweri expe from rghtiul terrtor,
The Governor points out the OF paying the debt
independently of the ditributon of the nj
lands In relation TO which he has the following
No notce thus far has been taken OF any amount 10
be received under the Act OF Congress providing for
distribution Of the proceeds OF public lands. mas.
much cherish the hope that that law will not long
be permitted TO d,shgure the statute book. Decm nC Il
be in violation OF the Constitution dangerous as re-
cedent. corrup,ing in is influences delusion and
cheat in t1e good 1t proposes prospective burden 10
the taxpayer and, under all circumstances little
shor' OF faulty | cannot refrain from recommending
the adoption OF resolutions upoa the subject and in
srucions your part those who are bound TO obey
you, TO exert their influence TO procure its i'm mediate
and unconditional repeal.
After going little into the Injustice OF tn, Imeaure
he states as follows -
would therefore only repeat my suggestion that
resolutions for its repeal be adopted and transmitted TO
Congress- and that the delegation from this 81 bc also
Instructed In reference to it, hut would recon- nend fr
ther that this State refuse sanction Il by reo.pon
Of the money.
In discussing the condition othe State Banks he hs.
the following just remark -
That the safety OF the public might also be further &C.
cured by urinx wider specie basis for
lion, and extending to these institutions the prov OF
the bankrupt law, will hardly admit Of question The
latter 10 be sure Is beyond your control cut 10 Re
hoped that IL will not be unnotced by Congress- in tie
revision OF this subject, which is anticipated.