The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-03-21
Our Philadelphia COrresPondencc.

A Free Banking Bil-Pro5aJiites of its Passase-Sum.
day RsilDay Trarel-New York Jurenik Rogms, &c.
Mr. q. II. Hart, OF this city, has submitted to the
House of Representatives Of this State deliberately
drawn up free banking BILL not the Canal street,
but the New York plan, with slight infusion Of your
old safety fund system The proposed banking capital
is to be based on Pennsylvanis and United States
securities; but such stock In all cases. to bear an
interest Of at least five per cent per snnum and not
to be taken at rate above its par value above its
current market value. good, honest locofooo
Auditor General regarding banks with the same friend
ly feelings that avehoaer is supposed to entertain
for abolitionet, would take advantage of one
ton o. the bill to make the law .Ssssy nm
nslly FIVE per cent stock, In reality only net
An per cent. To refuse a deposite OF Pennsyl-
Ing in Psnnsylvania, for United States SKIES are
too costly article for your proessed nnancers to
operate with Mr. Hart has evidently made q slip Of
the pen, which however is allowable both in banking
and telegrsphipg The individual liability principle
is modesly restricted to the mere redemption Of the
notes; but the bill at the same time periodically al
lows tho shareholders to extnsd It, II they choose to
any reasonable length which privilege
few win be inclined to avail Themselves Of freely as 1t
is offered.
prominent member Of the State Senate writes me,
that there is the slightest probability of the pas
rsge OF this any other free banking bill, by the
present Legislature. II there had been . chance OF
success, Mr. Hart has destroyed it, The glorious old
democracy Of the interior Of State have odd
but honest notions, In regard to banking well IS
politics. An opinion once formed by them after
ture deberatin cannot be shaken In the slightest de-
gree They believe that Phisdelphia and tue United
States Bank snd inssparabe, and that good
can come out Of our Nazareth aud 1t would be
difficult, II not impossible to persuade them, that
MIR. Harris bill IL not cunning federal concoc-
tion to restore the defupct monster. MIR Hart
had better quietly withdraw his BILL have 1t pre-
perly amended, and then let some honest, unsus-
picious democratic member, from Alt Berks,"
the bonors of paternity although the form aud
features of the child may afford striking evidence Of its
nsgitimacy.
II meeting Of the stockholders Of the Pennsy vapa
Rsirosd Company, last evening in regard to Sunday
travelling numerously attended, and much feel.
ing WAS mspifssted pro and The whole matter,
finally postponed for thirty days In order to afford
each stakeholder anopPortunity TO vote for " or
+" against " the proposed measure SO much religious
feeling has already been elected on the subject that
1t is unlikely that the vital interests of the road
will yet be jeopsrded.
Three boys Of very genteel appearance, were arrest
ed yesterday by the police under circumstances which
led them to believe that they from re-
spectacle parents In New York. They made respect
able show Of stolen property the effects doubtless Of
their dotDg father. and mothers.
Gold deposits TO No $40 inclusive, are now payable
at the U. s. mint In this city.