The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-12-16

This table shows great improvement since the result
of the New York election terminated the fears
that the System and mprovdence contended by
the party seeking power might be renewed. The new
Governor and Lieutenant Governor although elected by
the party opposed to the further loans of the State credit
to corporate companies known personally be ia.
orable to the bankrupt Erie Railroad yet the strong
jority in the Assembly holding the purse-srngs will pre-
vent any evil growing out ofthat circumstance.
The State of Ohio occupies precarious position Her
late sale Of stock at 80 cent discount debt due
to Ohio banks whose charters expire the LIST proxmo
was more an obligation growing out of old law than
any present policy Her interest will undoubtedly be paid
in January and although the by which that &C
compshed not such they should be- yet the COM
pleon of her Miami Canal, connecting with, and giving
an outlet to the Indiana Canal, will probably hereafter
yield such revenue will make her condition compare
lively easy, more especially, the banks expire in Jan.
uary. The following bill has been introduced into the
Legislature, and will probably pass -
BILL to enable certain Banks whose charters are about
expire, to close up their business and to provide
the prosecution Of suits against the
Sec l. Be it enacted by the General Assembly of the
State Of Ohio That all acts and parts of acts ncorporat
ing any banking institution doing business within
this State the charters OF which will expire the first
day Of January one thousand eight hundred and forty
three and the are hereby extended and contnu-
ed in full force and effect for the purpose of doing such
business may be necessary and convenient in closing
the concerns OF the Provided that said banking
institutions shall not, after the thirty first day of Decem
ber thousand eight hundred and ortytwo issue and
put in circulation any note BILL or other desc ripon Of
culate money, and shall continue to redeem all their
notes. bills other evidences OF debt in circulation
with gold and silver coin on presentation.
SEC. All actions and SUITS whether against or in ia
of such banking institutions, shall be prosecuted in
the same manner though their charters had expred
and all actions and suits pending at the time of the exp
ration Of their charters, whether for against such
corporations shall not abate but be prosecuted in the
same manner as though said charters had not expired
&c ctlo
privileges then expire.
Congress now in full session. and it is probable that
its action will modify the tariff either by adopting ware
housing system, or more Immediately giving relief by al
lowing entry by short bonds instead of cash duties The
rates Of duties will possibly be reduced before ano
Their session The bankrupt law which has been of such
infinite mischief in the inequality Of its operation will be
repealed altered to embrace corporations in its
operations. The democratic party have contended for
this latter policy but the State Of Alabama and Others
although democratic in their representation have opposed
this project heretofore because would destroy the in
solvent banks which those States interested and in
vove taxation to meet expenses is probable that
any exchequer plan will be adopted-there altogether
much conrarety of opinion the subject and the
number OF those who yet have the eontery to contend
for national bank of the old stamp very Insignificant
and those mostly confined to the agents Of foreign holders
Of American debts whose almost only chance Of realizing
those debts sby stimulating season Of speculation almost
by any means and creating artificial abundance of
ney to effect settlement OF their CLAIMS during its
tinuance. This cannot succeed
me report ofthe Secretary Of the Treasury has not yet
been aid before the public. The leading features
contaned the message Of the President reflection
ofhe evils which unsound legislation has inflicted upon
the mercantile community 1t appears the expendi
lures have exceeded the ordinary revenues saOooooO
which has been borrowed in various shapes
The whole receipts from the Cusoms for the first three
quarters ofthe have been this amount,
ss0O0oO0 received during the first six montbs with
which the compromise act expired. Two months then
elapsed with tariff entrewere made at 40 per
cent cash. all round The present prohibve tariff wa,
in operation during the last month Of the third quarter
In that quarter the receipts ooo which en-
braced the duties all the imports of that quarter and
also all the bonds of last year which fell due The receipts
for the fourth quarter under the circumstances are
estimated at 100000. Tie last six months therefore
give double receipts and the whole is equal to
sIeoo00oo per annum against $s4,oooOoo of expense
being adefcit Of s2a, $1,000 per annum