New-York daily tribune., 1843-01-30
AlahaEua-tiae Bnaks aesnolsnAsa-sse.
frtSsiHg, aee.
Correspondence of The Trisuse.


TvsgALeosa, Aia-, Jan. IA, isS.
As the action OF the Legislature Of this State
upon the Banks OF the State is a matter Of u,sch
interes, to many OF your readers, anuousoe to
you tifas the death-bo~ was yesterday given to
the roticn State Bank system now existing in ,hi.
Stale. You are probably already advised of the
Legislature having pu, into liquidation the Mobile
and Decatur branches, By topping of these rot.
ten bFaaehes' II was believed BY many that the
BANK at huntsville and The one a, This pl.ce
might at an early period be restored to re,ump.
''on and prosperity but bill was Yesterday sent
TO Inc ,'overnor, and will become a law. which
coEPels those Banks which resume 20 redeem,
without preference the bills of any OF the Branch
es ms OF course renders a resumption by any
one OF tsem impossible, and places the whole
I oarIcney on The same footing. A bill providing
tor The placing in liquidation OF the Mon,somerv
Branch went TO second reading in The House
this day, and It is presumed will pass This. OF
Course, since the passage of the aet l have Just
named, Is OF bu, little importance, since the whole
system will now explode. and the whole OF the Ia
sues soon dsprecia,c TO their real value
As the notes OF the State Bank and Branches
orr' hc entire circulation Of the State, is Pre-
sumed that The crop will continue to be purchased
with the present currency. which will in rea
sure bolster i, 1p until the Cotton season is over
bat ;hr result will then be- remains to be seen.
On the destruction OF this system, and during the
passage from moss specie paving 10 sound Cur
rency great pccuuiary distress will necessarily oc
cur but whatever !, may be, rest assured thar the
Governor OF th, State will no, convene the Lecis.
lsturc for the purpose Of passing any Relief or
Stay laws of any description. There arc, how.
ever, some signs that attempt will be made by
some OF the Loco toco Members TO pass Relief
law this prcseht Session. At presea,. many OF the
dominant, party are opposed 10 any such proceed
ing.
Aitcr the settlement of the Bank question, uron
which both parties mainly agree, the Dis,rictins
OF the State will be taken up. A proposition ha.
been introduced has many suppur,crs-,o
District il upon lhs White instead OF the Federal
basis. A. such measure would thgsw unfair
proportion o: the members in the northern part OF
tho State, many sf the members from the south
crn part OF tho State, who a, first favored it upon
party grounds, have become frightened, and vii
COW oppose it. Very many OF the Loco-F oco
members from the Southern Counties were elected
by lean loritics and all such. If they voted tor
the measure would have leave to remain a, h-mc
The present Legislature, although largely Loco
Focs, contains many men OF talent and honesty
who will not 60 all lengths for party at the sacr.
fec OF principle
The business OF each lionse is carried an with
much decorum In the House, the members o.
which generally employ much OF their lime in
speaking tor Bunhum, (the galleries and in per
sonal debates, strict order is preserved by their
able asd digniied Speaker, Mr.. Irwin of Greene
The rivers this side OF the State are now in good
condition, and Cotton is going down freely. The
crop throughout the State is very heavy. Man,
planters will make eight and some ton bags to III,
hand. if they can pick their whole crop.
Was much pleased Yesterday to sce in a book
store in this place a large 10, of your Wing Alma
macs. They will find ready sale a. the Whis,
OF this country are unanimous for Harry of III,
West. The winding up of the Bank, of ,hi
State will produce great changes Of opiniou in re-
gard TO National Bank. and athous h we canno
hope TO carry the State in 1914, yet by that tins
there will be very many now opposed to BanI
who will then advocate its adoption as u Ecmed
Tor the evils winch exist.
Respectfully yonrs, &c. A. BIC.