The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-04
philadelphia.
Correspondence Of the Herald.
,PHILApELPHIA, Feb. 3,


.PHILADELPHIA, Feb. 3, lS&1-
Our currency circles are considerably more
disturbed to-day than yesterday, an consequence Of
several letters having reached the city from Har-
risburg, stating that the bill requiring an imne-
date resumption Of specie payments, would pase
without much opposition or delay.
The following is its substance:--
Section first requires the banks redeem their notes
and sther liabiies in coin, demand, nsanter. on
pain of forfeiture Of their charters c. prohibits the
Treasurer from re-issuDg the Relief issues and
quires him to receive them of all dues the
state proper account Of these to be kept BY the
Auditor General that settlement may be made the
banks issuing them Sec. extmpts the bsnLs that
issue the Relief issues from receiving the same in
pay of debts due them from them
in specie; but when they presented to any hank 10
the amount Of one hundred dollars the cashier shall
draw his order the State Treasure. who, ne has
not funds to meet it, s required issue to the holder
certificate bearing per interest which interest
shall be made pay able the April and Olioosr In
forfeng the charter any that refuses 10 pay
specie, which Is by setting forth the fact by ad VII y
bank appear within i've day and il the truth Of the
affidavit - made to appear the Sheriff or Coroner IN
vacation takes at once in charge until the INTERN
Of the Court, when trustees appointed Sec. 8 re-
quires the trustees TO be and notice published Of
their appointment Sec 6provdes for the sale and dis
barssmsnt Of the effects Of the bank by the trustees
subject TO the order Of the Court Sec authozes the
Courtto discharge the trustees when the whole
OF the bank dsbursed. Sec foreits the charter
Of any bank that shall, after the passage Of
this sill, issue or pay out any other paper than
Sec requires settlements by the Banks on the srs
Monday in every month, and sush shall refuse fail
to pay ITS balance in coin shall orfet lis charter Sec
10 prohibits corporations individuals from issuing or
putting in circulation any note, bill check orpspcr
circulate bank paper under the denomination Il i've
corporation, forfeiture Of charter. II also enjoins
that this provision shall be given In charge the rsnd
consts6les are .quird undo. penalty 500 to eturn
under oath, the name Of any prison whom they shall
know to have violated this .,eien. Sec. y prohibas
stockhoders residing within tweLty miles, from voting
by proxy, and all stockholders whose stocks hypo
thecstei from voting at all Sec. II requires qusrery
statements from cashiers show ing the amounss losned
circulation, specie hand, deposits with the nam Of
their debtors, and the sum owed by EACH which mall be
open 10 the inspection OF ckbolders under penalty
Of five hundred aollsrs. See. 10 gives dividends an
csimed for tw years the banks after advertising
them for six ears succe sivey Sec IA requires the
banks TO receive their notes in ymeu Of debts
Sec 10 reps ais all Law hat clash with his bill
Ii is not publicly known that any efforts are now
making TO ensure speedy payment Of the State
Interest; though since the appearance Of the bib
in the Legislature, requiring immediate resump-
ton, l understand that the banks are willing 70
make the loan required of them by Governor Per-
ter for that purpose, provided resumption can BE
postponed till August AT that time another half
years interest will be due whes suppose the
banks will be rezdy to bargain for longer lime
Out upon such enporizing.
A PROJECTS on foot at Harrisburg to es'ab ish
State Ssb-Tre sury 1t is true the money j. now
all gone, but then il will be ready u case we should
get any more.
Couldn't wait for the Bankrupt Law. Tw"han-
bred insoivenis yesterday p. ssed through The MILL
payine each ON an average, debts to the amount Of
SItWO thus wiping out old scores TO the aInouut
OF two hundred thoassai dollars!
MIR Lycl, the great English geologist, opened
course Of lectures last night 1t was not very
The business in Stocks T. day was quite large
for thi. city, and generally at advance in prices
State Fsvss rose l. and Re ,ding Railroad "A. Dis
omit ON the paper cf Our broken banks same ~
Yesterday. EXCHANGE On New York 8 TO 7 per ct
premium. Specie per cent. .3apl