Baton-Rouge gazette. [volume] (Baton-Rouge, La.) 1819-1856, 1842-01-22
co,,rsoouaa1cg Of he Yatm Rouge Gazette

"
Nrw ORLEANS, Jan. Ii, 1872.
Dear Sir since my arrival III the city, |
have received letters which have caiised rnr
10 abandon the idea of my northern Visit, ard
! may probably be directing my course to Cuba,
md then Immediately back here.
| have been amusing myself by attending at
the lobby Of tho House Of Representatives,
where the Bank BILLS, to speak tcel,nically,tl
order Of the day. | heard yon express d great
in:etest IN the matter, ard will ill this alasly
letter with a hrIes notice Of the legislative ac-
ton on tlis important subject.
| have given my attention 10 the bill lcfore the
| House, IN preference TO that before the Senate,
because that Of the liouge IL the iavorito in
the city. Its general features give universal
satisfaction 10 the business portion OF The COM
mlnity. its provisions arc 'co!,9tiered ~
adapted TO tho times, 1t fixes the resumption
Of specie payments al . convenient titae II
provides ample tiruc for the debtors Of the
bants 70 make their payments It bo!ds oit
Inducements TO the weaker banks to 60 into
liquidation, upon terms Mt once advantageous
to themselves, 10 the cotniniipity anil 10 debt.
ors. The great difficulties presented we're
as 10 the time when resumption should be
commemorative terma on which the weaker
banks should be forced into liquidaticr-tle
manner Of regulating the extent Of the issilsa
and circulation Of the stronger hanke--'he
manner. and penalties, by which the bonsf
were To be prevented from eyadlng the provi-
siofs OF the law---and the mnnilcr in which
they should be proceeded against il guilty oil
such evasion. November next has been fixed
uTon for resumption, and the other difficulties
OF the bill arc disappearing before Temperate
diacnssion, which, however, proceeds too slow.
" for tho wishes Of the community. And yet
the legislature are somewhat egeiisable for
the subject ~ one Of vast importance, and ono
with which a large majority Of them arc not
familiar. You have had the bin Of the House
before you in the papers, and il las not under.
gone much modification, except striking from
il tho provision which fixed the precile amount
of the circulation Of tho bankp-~tclyior Oh the
operation OF other kind Of checkp, TO restrain
the tendency 10 oscr-iss,iea. The provision,
too, which gave to the Governor the poW or OF
saspending the law, il case the banks should,
before the meeting OF the legislator bo pre-
vented by the occurrence Of unforeseen cir
cumstances from %resuming has aleo beon
strict en- from the bill. The House will now,
/ think, soon get through its bill
The Senate have passed their bill, aud to-
day IL was printed. | have not aeen il, but !
have heard It deeried, in unmeasured terms.
NJ neither practical, nor practicable.
An effort was made to-day, 10 lake up
the Scnatc'a bill in the House but il failed.
The House, it appears, arc determined first 10
pass their own bill, which, they think, will
place them on n level with the Senate and
the idea is, that a compromise IL TO be brought
about, by n commitie. Of conference. Some
member Eeetn to think that h compromises will
easily be effected others apprehcnd great
difficulty in bringing about 20 desirable i re-
suit.
IN the mean time, all this uncertainty il
producing increased distress in commerce md
every species 81 business !: and the final action
OF the Legislature, Is o~ccasioning the most in-
tense anxiety. Though blowing n perfect
gale, the hurricane IL not yet at its height
Every species OF production. every article Of
commerce IL declining. and the most unexanl-
pied pressure and wide spread distress, are i'm
pending oger. Tho country. | sincerely hope tIat
will prevail over every other teel-
ing, and that one sentiment alone will predo-
Tainate IN the legislotnrc-a single view TO
the interest, the happiness, and salvation Of
the state.
Since writing the above, I have obtained a
copy Of the Seaate's bill, and herewith trans
it, Tho original bill Of the House, you
have seca.
The Importance OF the bank question pre-
Guides the discussion of every other. No ether
question Of Importance has ii peen introduced
--exeea'... ne apportionment bill, which has
a law. Some members told me, that
the next question Of interest will be the reve-
hue bill, or a bin to provide for the payment
ef The debts OF the state, and the means Of
its current expenses, The state debt
is said to amount to two millions and d half
Of dollars. The House have called upon the
treasurer for a full communication of his
views on this important subject, and even
directed him to present a bill-(by the by,
somewhat OF q novel conrse). 1t is said tina,
he Treasurer's report, aud bill, will soon
their appearance. 1t is also rurnorcd,
the report and the bill 90 deep INTO re-
fenchmcnt that the salaries of all public Of
icers will be reduced twenty per cent. The
slaves belonging to the state, and employed
" the Board Of Public Works, are TO be sold.
The appropriations to the three large colleges
o be reduced three %four,hs, &c, &c. But |
whether the Legislature will assent
. all these propositions TO tlleir full extent.