The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-09-29
ALBANY, Sept. 81, ls47.

ALBANY, Sept 81, lss7.
The Free Banking La,o-Tae Bill providing for the
election o. a Lieut.. Governor-Oemocratic State
Co"renfion- Gen'rai Railroad Biii-.appropriations
for the co~piefion Of the Canals, &c.
Entertainments continue to be made upon the free
banking system in this State and 1t may be doubted fit
will not soon be entirely superseded by the ssfety fund
banking system do not design to intimate that bet
ter banking system than any Of those existence could
not be devised, or that the time will when
positive and real mutual protection banking system viii
exist In America. bill passed the House to-day sub
jecting all banks bankers under the general law to
taxation the full amount OF actual capital paid in
or secured to be paid In, which In t Is pro-
vdsd shall be less than the amount transferred and
held by the Comptroller security for the redemption
Of circulating notes at their actual value estimated
by the Comptroller without reduction for the debts
of any such individual banker or association.
bill has passed the Legislature to provide for the
election Of Lieut. Governor at the ensuing election to
be held In November nsxt tbs oficer SO elected, win
isas The following Is the vote upon the hill 1t pass
ed the Senate this morning:
Ayes-Messrs. Backus, beach, Beers, Burnham En-
mons, Folsom Gridley, Hall, Hard Jones', Morris, Rug
giss, Sanford, Talcott, Townsend, Van schoonhovsn
Nsys--Messrs Barlow, Crook, Denniston Lester j. B.
Smith, Smith, Wiliams-s.
The radicals. (demscrats) avowed their opposition to
the bill upon Constitutional grounds they denied the
Constitutional power Of the Senate to provide for
emergency which 1t seems not contemplated by the
that the Congress by law provide for the Of
removal death, resignation or inabity both Of the
President AID Vice President, declaring what officer
shall then act as &C. but believe the Legis
lature has not been entrusted with similar powers.
Now that this bill has passed 1t will be the duty the
Secretary OF State to notify the sheriff clerk
ty judge, OF each Of the counties OF this state,
that Lieutenant Governor IL to be chosen mmedi-
atey after the reception of this notice. Sheriff Cen
or County Judge to whom 1t Is addressed, will cause !,
to be published in each Of the newspapers published in
his county once week, until the time Of holding the
election. The democratic candidate for Lieutenant
Governor will be nominated the State Convention TO
be held at Syracuse the 29th instant 1t il stated
here that the delegation in that convention will be
follows Sixtytwo delegates In favor Of the re-nomna
ton Of Mr. Flsgg fifty six delegates In favor of
men, the remaining ten seats will be contested This
situation OF the delegation declared to be-
by prominent radical democrat may be correct in
any case presume the opinion may be safely entertain
ed that the proceedings of the convention will be psrc
ularly interesting to the people Of this State
very Important general PHI for the organization OF
dsy-ayes H. O. This bill contains the "Oriskany,"
or personal liability clause, which will very greatly
suffered to rust and public interest shsuld suffer
before capital should be legally authorised to treble
itself In the public service with the public faith inter-
posed to guard against the possibility of loss .t.
The democratic members Of the Legislature will hold
caucus chs evening to nominate legal commissioner
to ill the vacancy caused by the resignation Of Nicholas
By late report Of the Comptroller to the Legislature
1t appears that during the last year there
previously appropriated of $659904 g. Several days
since Mr. Cornw proposed to devote the entire surplus
unappropriated to the enlargement and completion OF
the Erie the Genesee Valley and the Black River canals
He accordingly introduced bill into the House sppro.
pratng S559904 81 to the carrying forward the Erie
canal enlargement, 5000 to the Black River, and
ton This embraces the entire surplus stated by tho
Comptroller. This bill has not been acted upon, and
mains in charge of the committee of the whole house.
Nathaniel Jones resigned his office Of Canal Commits
sioner to day.