The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-02-02

are required to make onthly reports without the aver
age and the Institutions Of these States among the
soundsst in the Unisn The weekly monthly reports
Of the banks great and valuable guide to the
commercial classes. They able to regulate their
operations BY the operations Of the banks and are able
to discover any change in the Of the banks al
1t il made. by which they are able to
control their movements accordingly
The legislature Of this State must be aware that the
object these banks have in view in pstonng for an al
iteration In the act requiring quarterly satsmsnts il to
avoid those frequent exhibitions of their condition and
the changes they compelled resort to- previous 10
making them for the purpose of presenting az
reports az possible The fact that the banks consider
them as onerous proof positive that they are useful to
the public The banks, no doubt consider them bur.
den and they would any other law that did not give
them every facility to expand at their plea
sure These institutions have favors enough from thu
Legislature already without being released from this
the only check upon them They are lswless enough
and possess power enough make mar the fortunes
Of those depending upon them for facilities to carry on
any business in which they may be engaged and should
the Legislature be induced by any influence those nsi
tutions may bring to bear release them from these
quarterly statements there will be expression Of pub
lie opinion that will be anything but favorable to those
consenting to such uncalled for unnecessary act
We have too much confidence the political COM
from the application Of these money making
We believe that the banks will 6nd very little favor
from the democratic members of either the Senate or
the House of Assembly but in the Of their being
released from these quarterly reports shall not des
pair, but fall back upon the subTreasury. There will
that be greater. necessity for the ressablsh
men Of that act The subTreasury bill will keep those
banking institutions within proper limits will compel
them to keep their issues down to safe point and in
regulating that regulates all the other departments
We want the Sub-Treasury act in connection with
monthly average reports and then may look for some
uniformity in the value and volume of the currency
s,me uniformity in prices and in the movements of trade
and commerce The periodical innat ions contrsctons
and revulsions, have heretofore experienced will be
among the things that were and prosperity will be-
come permanent.
Advces from Harrisburgh says that the bill granting
the right of way to the Baltimore and Ohio railroad
company will pass the Legislature Of Pennsylvania
In the Senate the bill is consdered safe In the House
ID friends confident The bill ID now before both
Houses, and it will be pressed forward az rapidly s
possible.
The Governor of Pennsylvania has vetoed the bill to
incorporate the Armstrong County Bank. The Execu.
tive in his message to the Legislature expressed dec
ded opposition to the creation of any more banking
capital upon the ground that it is already sufficiently
large He says in his veto message that the creation or
bank does not, under any circumstances present a
strictly local question Each of those institutions adds
its proportion to the general circulation of paper money
and thus AFFECTS the currency Of the whole State The
governor says that to make the principle of individual
liability effective should embrace all the liabilities of
the corporation BY the bill to charter the Armstrong
county Bank, 1t was limited to note holders.