The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1849-11-20

BANKING IN ALABAMA.-The subject Of banks
will, from present appearances, occupy large por-
ton Of the time Of the Alabama Legislature, which
has just commenced its session. On Monday, the
second day OF the session. resolution was intro
duced in the Senate by Mr.. Beckett of Pickens, to
establish a system Of free banking in the State and
it was ordered to be printed.
A bill introduced by Mr.. Storrs, Of Autauga and
Coosa, establishing bank at Montgomery, with
capital Of 100000, was on the same day read
A bill on the subject Of banking, was introduced
by Mr.. Manning, OF Marengo.
The vote establishing the committee on banks
and finance was, on motion of Mr. McLemore, Of
Chambers re- considered-the resolution laid on the
table and resolution introduced in its stead by Mr.
McLemore, creating a committee on. banks-and
another on finance, was passed.
In the House. when the debate in regard to the
printing Of the Governors message was pending
Mr.. Humphreys remarked, that a portion Of the
message sounded strangely to him. considering the
it emanated from and called for the reading
Of that portion relating to banks. The clerk having
read the part called for Mr.. II. proceeded to say
that was true the message contained much valua-
bic information, but that it seemed to him that the
annunciation by His Exceency that the indications
seemed to be IN favor of the establishment of banks
was singular one from that quarter. That it seem
ed His. EXcelency was inviting the legislature to
present him with bank bin, which was an aban-
donment OF the high position heretofore occupied
by him. Notwithstanding, he tAlr. H. must vote
Tor the motion to print, yet it was impossible fol
His EXcelency to know the position OF a majority
OF the representatives, as no question had been made
The following is probably the portion Of Gov
Chapman's message to which Mr. Humphreys re-
ferred
" In regard to the policy of banking my views
remain not only unchanged, but they have beer
strengthened by subsequent observation. Never
theless, free to admit that the late elections il
this State would seem to indicate that considera
bic portion ofthe people has decided in favor of
ablishng banks, and that majority of their repre-
sentatlves agree with them on that question. I'm
der such circumstances, therefore, have no reason
to believe that could, by any argument of mine
even if | would change the course of any member
who may think himself virtually instructed by hi
constiments-neitherw would do so if | could
That the legislature has the constitutional pow
er to establish banks, cannot be disputed. There il
no constitutional issue, therefore, involved in tn,
question; it's one Of mere expediency. Neithe
did II assume the form of party question in the lat
elections for we have the evidence before US, how
far above the reach ef-party control the voice Of tn
people placed il in several counties in the State
Should, therefore, majority Of the Legislature de
eide upon the establishment OF bank, SO far from
nterposing any obstacle in their way, shall feel
my duty to give my official sanction to any consti
tutional bill, having that object in view, that ma
be presented to me during the period that now re
| mains Of my official term. And no friend of tn
I policy can desire more sincerely than ] do, that
adopted, it may advance the great interests of GU
| State