Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-03-15
IT,. INNS. of R,sumyf;on.

LorIstayA-The House of Representatives have
passed supplemental bill, TO the Bank resumption act.
One section changes the day OF resuming, from sept
Both to Dec lst 1t has not yet been considered in The
Senate The Banks which have already signfed their
acce piance Of the law, are the State, Citizens,
Consolidated, Carroton and Improvement, five. The
Banks which have rejected 1t, are The City, CONNER
cia Gas Light and Louissna, four. Seven have not
yet decided.
| PESysYLyASIA--The Harrisburg papers express no
doubt about the Governors signing the Bank Bill II
is now said, that he has not consulted the Attorney
General about its constitu,ionality The course which
some of the Banks may take under the law is rather
uncertain. The (Phadelphia) North American of the
10th sketches the provisions Of the law saying that
g The first section of the law calls for immediate re-
sumption by all The banks in the State of all their La
bites, excepting where contracts have been entered
into as TO the payment of deposes previously made.
OF the orty.eght banks existing in the State and
doing business thrtythree accepted the provisions OF
the act of Nav lS4 and issued notes accordingly; and
fifteen declined of which, eight of them located IN
Philadelphia. The bill that has just passed the two
Houses does not peal the law Of May, lS4l but it alb
YES the hanks that accepted of its provisions and thus
became parties contract with the State, from part
of its and leaves the remainder Of the law
in full force All those banks will of course clam the
mmun,es extended TO them under the provisions OF
that law and the contract which they entered into under
it. And appears 10 that those who drafted the bill
that has Just passed the Houses OF the Legislature
expected that they could dot from the circumstance OF
the penalty being light that 10 be inflicted, IN the
event of their failing to specie payments
acted under the first section. II must from these facts
and circumstances be manifest to all that there will
not be any immediate general resumption of specie pay
mens Neither can there be partial resumption,
can there be two currencies. The banks which did
not become parties to the act of May l54l will be
eeed TO refrain from issuing any Of their own notes for
any purpose whatever. They will be obliged to pay any
notes they have in circulation, when presented in
specie and the depostes which they now owe, received
under special contract they will have to pay called
for in current money; and they will of receive
payment OF any debts due them in current money also
Now, the question comes up, what will be current mo.
ney; The bill we now commenting on, makes the
notes issued under the act of May, l54 current money
The banks which accepted the provisions OF tina, law and
issued these accordingly, will claim the rights and
privileges extended them under it, and will issue their
notes in defiance Of the bill that has just been passed.
on the ground of lis being violation OF solemn con
tract entered into between them and the State, under
a statute law for that purpose The notes issued under
the Relief Law Of May last and such other notes as the
ban ks that issued them may choose to issue hereafter
in addition are according to the views We entertain Of
the BILL as here expressed, to constitute the currency
of the Slate, when il shall have become law and have
gone into operation
The Philadelphia Ledger gives later information
II states that ",he Philadelphia and Commercial Banks
have deer mined by vote of their Directors, TO re-
sumo specie payments, If the resumption bill becomes
law The Western Bank, the Southwark, and the
Bank of North America, professed themselves ready
for specie action some weeks since. Their circulation
SMALL and most of the specie belong'ngo the Bank Of