New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1846-09-30

Ne=z-s. Es,cik.zs, Nor--=. iy12=z 4--ea NcN=iL
Townsend aid tvo chree others ~o.ed Aye. TEers
were = Noes Lo--
NJ S4o. s4.i tlst Corporations eRse ma. o. =r.,A
-eazs . eolas=.e VII. llen o; enormous sVes-1- One
tat cc stock Of ts great manufactures Of Cincinnati.
Is owned By the woTk1eE and manual lz5ore-s there
employed i haTe Corporations : i 70. uz-u
.:t lie !t@ Mo e-orIE01=y E-cl ca1 gre ~
exclusive CURRENCY csI establish IsE-tscrss and 20
wts:e-e- wealth without competition car achieve Tor
the few TIE great G5tcury q u Corpo-s.i51: i that
yvcu!t establish general laws ch a. nigh; cou
binc Wfthou; Bank Ike Revolution E.i-Lt kavc tai.
cd would keep Banks within proper limits, and .,aEs
every nan equal before the law
-ae lIst section o. the Report tlOE Committee No
T5- Leeisis.a-e shall tavs no povve- 70 -sss scv
Law gaming Spera Charters for Banking purposes bat
ASSOCIATIONS q. such purposes Hay be .ofEic under gez
err Law
ADOPTED. ayes = Hc lNr Burr
wes r-sd, az io.o7v= %. The Legislature sail hsve
no power sanction E-z:ie- direct o. Erecs, ii-
-rsp ssion Of Spec= say1eI;s y az person. Associa
lcR or Corporation sslg San Notes OF any ce-c pt!or
This section as aC1o.et - - g. as :OO~s, 4 voting
neither wsy
AyEs-siessr. Angel Archer Bg,vaisl. Braadags Can.
brel-ug & Campbell j. Clara COneiy Cornell. Guide
back Dans Danforh. pqT.cn, Ddbo!s .aders Gebh4rd
Creme Hart. Hoichsiss. Hunt. 4 Huntington. HYDE
ke-na-l kingsley Mann, AeNsi -.ieNi;i Navel Nor
s. Jonn Sanford Sesr- Shaw. sheldon. Shs-Rf1 Smith
Stanton. stei.or- 9a5Ehsiuer Tat j. ay.or y" lay
Tor T.deG. Townsend IlthI.i, Ws-d Waterbury, Wi,-
NlY--tie-sI- Alien yr4i4l, r r hlCrl-. Baker
SrayioH Bruce, Bl. Buzz aEcee Coos sooker, Dodt
Graham Harrison Hzwler. Jordan. Miller. Nicholas Par
ish Patterson. Khosdes. Riser. Simmons Spencer W
y Spence SLOW, si-onS, Van >chconhcyen Whi'e. \
Wright, Young
NJ ALLEN and u srow opposed ths above Resolu
ton on the ground that had the country been
able 70 pay cash Mr. Allen said that the Last War could
no; have been CARED but :o- the help gwen the GOV
eminent by tht BANKS ana that had not TIE suspension
taken place not merchant II New-lorA could nave
stood il ior q month NJ. CANsRELENG replied thai,i
.f, lord credit IN
Government II was their right 10 do but that when
they took the of the Banks money and deposit
ed their cash in the Banks ioT safety the Banks had
right END that mcBcy ~ the Government and then
tuTn round and refuse - pay tcr debts and thus en-
barrass the community.
fin cases of this kind we arc reminded o; the advsn;
age OF Constitution easier altered than the present
with the direct consent Of the People
In the afternoon. vote taken on
3 The Legislature snail provide by law for the regis
noney, and sharequre smPe security for the redemption
OF .le same IL specie
Il was adopted by vote o. - Ayes against ~ Noes
Did not vote, 81
IMr Justice Nelson induced the people of otseso to
vote FOR hirn-consen;ed TO be canddate-sat few
days and has ever since deprived he County Of the
vices and vote. OF some other faithful and attentive Del
egat,. Is this Just; Mr. Justice BY the way, I have
good authority FOR affirming that property in otsego is
assessed in that County about ouothrd offs value
even Ies. Is tins right toward Counties who assess &c
the ,rue value q.
Mr. Carnbrclene'- Eth section. with Mr. kirklsnds
amendments in brackets Is as follows
; i The Stockholders in every Corporation and Joint
Stock Association for banking purposes thereafter author
ICED formed issuing Bank Notes or any kiut OF paper
credits 10 circulate uoney after lst January 1870 shall
individually responsible amount equal 10 their
specve share shares OF stock any such Corporation
or Association for all ~; notes put liz circulation, debts
and liabilities OF every kind, contracted after Jan 1850
Mr. Kirkland also moved 10 have the latter part OF the
above 18th section struck out and provide that the
creditor shall have such claim the above on in
diy;dua Stockholders ii: he had made regular demand
on the Bank Itself ior payment
Thus matters stood between five and sis when LETT
Mr. CMnbrclcuss last Two propositions are
o.. The Legislature shall limit the aggregate nnountot
Bank Notes he issued by al the Banks nd Joint Stock
Associations IN his STATE, existing which may be
hereafter established
a. All Incorporated Companies uli Associations.
Using Banknr 20 sers shall be subject 10 visitation and
examination At the instance their Shareholders OF
their creditors under regulations 10 be established by Inc
Iecslsrt ana hi case OF The failure OF Any such Corpora
un Associaoalo discharge Us debts liabilities or Of
any is members discharge the debts for which tey
may be personally liable members of such Corporation
ssoCinor prov sn he made for the speedy and
equitable settlement OF the affairs OF such Corporation or
Association and for dis-o-ylnE the saIne
What seems to be much wanted Is comprehensive
Partnership Law which would require costly Court
of Chancery regulate and plumber by costs in case OF
Disputes law which would apply to al associations
wletlsf OF persons y! tNO t4ouedii All
profit Why should there be one set OF partnerships
association. to deal money trade to manufacture
or do anything else for gam with unlimited personal
sponsiby and another SCI OF partnerships OF assoca
ions with no personal responsibility al all Why not
adopt some one uniform principle and enact one full,
clear distinct practical useful and comprehensive law
And five frame such law surely it ought to be left to
the citizens TO veto or endorse
pt hat Of Re-
formers who holding with David hume the doctrine
that apart from the general good oil society there be
no eclueiye right real estate wish 10 place some rea
sonabe limit to the power OF the wealthy, the specu!at
ing gambling aristocrac part OF community sngro.s
ns as IN England almost the whole land OF the country
was distributed todsy the Members, and contains
the Memorial OF the association TO the Convention
An Informal Standing Committee e Previous Cues
lions created when the Eiteen- minute speech rule
was adopted Every Delegate VINO moves the Previous
Question is entitled membership. Thus lar the Com
rni,iee consists OF Messrs. Bergen. ChairmanW h:e
Mann Swackhamer. Cook. lounss. Dana, Bowdish, Rus
sell and Dodd Dr. Taylor moved the fifteen minute
r,le-a good but delayed Ill It was Of little use