New-York tribune. [volume] (New-York [N.Y.]) 1841-1842, 1842-02-11
Ohio-Esank Re>nmption--Dc.tr
FaiIures, DC. &c.
Correspondence OF TIE Tribr

The bill! enforce the Resumption of Specie
Pavlncnrt By the Banks OF this State. vcster-
dav ordered to be cngrosScd for a third reading.
by vote so decisive tina. question remains OF
It's passage The bill in the House is not the
SAM that passed the Senate some two wcck.
back but the main point Of difference bc,wecn the
two political parties, is not changed The ma
loritv iu both Houses are determined upon the
day when the Banks shall resume. viz: the Attn
day Of March. That point i. lully- settled. The
Wings proposed gradual Resumptio,-thcir
principal measure requiring the pay,nen, of sI,c
Gle on the small notes in Nav and going up To-
tiycs and tens in July and August. Great efforts
haze been made by the Bank interest Of the Loco
Fuco party of doors. to induce the Radical lead
ers to adopt the principle Of Gradual Resumption
but the most Influential Of the Dc,.ructivc> have
successfully resisted the scheme, and believe
with full conviction Of the consequences which
nl'r,t follow |, is their determined purpose To
deslroY the B0nks, and wind them up undct the
Bn1h Cummissio: Law, which. it Is calculated
Viii give til-n the Distribution of 1; considerable
amount Of S2oils among their ndhcr,n,s In this
design however ! al.l inclined 10 believe that ;lct
those Banks that will be unable to resume a once
on a tlv 50 early as the 4ti Of March, have
ere this assigned. aud when the bill To enforce
Resumption shall finally become u law. the fact
will BE- di,ulgcd
So yoirwiil understand that Il general liquidation
of dcbtS is to be made the ensuing summer. The
Banks must press their debtor, with all their
power--hc million of dollars of specie now III
their ,au, must be carried off, and the four mill
ION, o paper. in circulation, must ali be taken
in on can Judge of the evils winch in
store for this doomed State. better than ! can poi-
tray them We are allcaly cNpcric .cns fore
taste Of tho ILL that arc to come. Two or three
DAYS since the Granville Bank. after thirty davs
run, finally gave up the ghost. It had redeemed
5l30,000 of lis paper, bu, being much e&tcnded.
it has been forced to Weld and give upa charter
which was deemed valuable because 1t was per
pctu1!. It, notes, which few days slice were
considered currtncy-; Gait pilrasc--alc HOW
worth fifty cents il goods. Yesterday our city was
rife with l1l:lors tina, the Warren Bank, which
has kept up a circulation of 100000 OF more,
had exploded or was about to do 50, and to-day
YOU cannot put it OFT Tor any thing. Still cannot
learn that the Bank has actually discontinued the
redemption, Of it. notcs-ui course in the note. of
other Banks. But that result must follow.
natural consequence Of, the prevailing panic.
Both Houses of the Legislature have passed Il
resolution to ccnsurc John Quincy Adams. for
presenting a dissolution petition in Congress
In the House, the mover OF the resolution Called
the previous question upon it, and it cram
med down tie throat. OF tile party without any
opportunity to discuss it. In the Senate it pro-
duccd the stornlicst debate, and the most bitter
personal rccrmnaton tlat has ever been wit
messed in this country. The scssi and debate