New-York tribune., 1842-03-01
Important from Obio-The Resumption
Law-Banks nasigning and winding
up-No Money and Gloomy Prospect
Great VFhiZ STATE Conven1ion-COR-
WIN neminated-His Election sure.

Law-Banks assigning and winding
Great Whis safe Conven1ionHCOR-
WIN nomina1ed-His Election sure.
Correspondence of The Tribune.
COLUMBUS, o., Feb. q, 1s4:-
The Resumption bill became law a week since.
The Loco-F ocos finally succeeded in keeping their
men up to the rack on the question Of fixing the
4, of March for forcing the Banks into Resum-
ing on all their liabilities although Two or three
OF them in the Senate were inclined TO adoptmild
er measures. Don I understand me as represent
ing the Wings OF tins Stat. a> forming IN anti-Re-
sumption party. There is one Wing in the
Legislature in favor OF continuing the state OF
things which has existed SO long. one dav longer
than Is indisprnsably necessary save the Banks
from certain destruction. They all voted for gradua-
ted Resuup ption-to begin in May and puy en- every
thing By August or September. Two or three of
the Loco-Foco. in the Senate, where their ajor-
itv is two-l9 10 l7-prepo>ed t, vote with the
entire Wbig force in favor ei modification Of the
bill passed in the House. but the Wings declined
any arrangement that did not embrace the condi-
ton tha, the proposition TO be substituted for the
bill should receive as uany Loco-F oco as Wing
votes. The Loco-Foco caucused on the subject
two ights into the small hours. bur the Radi-
cali. who are be nj on real Bank destruction. de-
feated the scheme, and the Wings scompccd them
to shoulder the whole responsibility OF .rleasurs
winch every toresees is to be attended with the
most disastrous consequences.
In the mean time the agitation of the ,ubiec, has
precipita,ed the results anticipated il! good num-
Der of instances. The Banks are yielding - the
storm all over the State. The Granville Bank
s, up its door. first, after faithful efforts meet
it, engasers ants. The Urbana Bank went BY the
board next These two p anks had OUT u circula-
ton of nearly half million, which was instantly
deprecated one half. Think of that, ye New
Workers, who used to grumbc over "a discount Of
one half of one per cent. on country pnper-
About ,he same time the CIlilicothe Bank
signed, but=thcrc is presume no danger or APP
pr.henson of loss here. The Bank was in ad-
Inrabe condition. until it made loan of 100000
or 100000 to tfe State. Next, the Hamilton
Bank, near Cincinnati, assigned it, effects. Tic
Lancaster Bank, n heavy concern, has also as
signed and to-day it is reported that the Bank at
Marietta has taken the same course. To the num-
Der thus breaking up are 10 be added both the
Banks at Cleveland. The consequences OF all this
arrangement and confusion nre seen in the almost
total suspension of all kind. of business. There
is no money in circulation, except the notes OF in
solvent Banks shinplas;crs and the orders Of Turn
pike and Railroad companies. The latter have n
local circulation and in some Instances arc con.id-
cred the best kind of money to be obtained.
Under these circumstances, Contention OF Del
cga,cs from nineteen Bank. has Just bocn held in
this CITY. Yon will see the proceedings in our city
papers, but the plan proposed to meet the crisis
is to make the attemptto to redeem their liabilities
according to the provisions OF the Rcsumptiorlaw
and TO doviSc a system Of making frequent settle
ments between themselves BY sending their paper
to this city to be exchanged and retired from cir
culation There are few who have any faith in
this plan, though some ten or twelve of the Banks
which have kept up no circulation for some time
past will be able to weather the point with or
without such arrangement. But ! think YOU eau
safely calculate upon an influx Of about one million
Of specie 10 be drained from Ohio within the next
ninety days.
Tomorrow. YOU will recollect is the dav for our
State Convention to nominate Governor. The
city is full of Delegates tonight, who are quar-
tered upon citizens generally ! havo con-
versed with many of them. who all unite in rep
rescnting the condition of the Whig purity being
all that we can desire. They all concur in saying
that the people are universally disguscd with tho
Loco-F Foco Legislation OF the winter and that ex-
amples of a remuneration of the party faith are nu-
mcrolls Several Counties ere named to me, in
which it i, confidently affirmed that the Wing
strength will be greater he9t fall than i, wa. in
1910. Gov. CoRwls hn. Welded to the solicita-
tons OF his friends and will accept the nomination,
although he has been anxious 10 retire from the
canvass. This ensures rs the State beyond any
reasonable question. We can elect q majority Of
the Legislature, and thus secure Wing Senator
in place of Earthquake Allen shall not close
this letter until tomorrow.
TUESDAY, Feb. -
We have Just got through with our State CoIi-
ycn,ion. 1t greatly exceeded our most sanguiue
expectations, and has inspired our friends whthe
highest degree of enthusia,m. CORWIN was
minated by acamatior, and riII be elected too,
by ton to twenty thousand majority. His great
and deserves, popularity makes him powerful
leader, and the Loco Focos are as we'll satisfied
of the doom ,ha, awaits them "a they know
the result of tho contest in 1910 Yours.
\. E. BouNpARY.-Gov. Davis has sent a Mes
sage to the Legislature of Massachusetts with re-
ference. IN thr y Z boundary oIIrs;isu He think,
that England may propose conventional bound
ary, and in that case he wishes Massachusetts 70
be prepared for is consideration. and Suggests the