Lewistown gazette. [volume] (Lewistown, Pa.) 1843-1944, 1850-05-03
Pennsylvania Legislature.

week, we find but little of interest to the
people-the bank-hating locofocos being
engaged in passing bank bills as fast as
they can. In the House, on Saturday last,
when the bill to re-ehar;er the Easton
Bank was up on second reading, DR.. Bur-
den gave his reasons at length, why he
would vote against further prolonging the
life of this Bank, and in doing so, he took
retrospective view of banking in this
always scharacterizedit. it. He contended that
there was not banking capital enough in
Pennsylvania-ihat in consequence there
of, the little Yankee State of Rhode Island,
and others East of New York, by reason
Of their great banking facilities, had con-
stantly kept good old Pennsylvania flooded
with their paper. He next ex pressed his
views of free banking, which system he
extolled, and regretted that it did not meet
the favor Of this Legislature, whilst he at
the same time, hoped it would meet the
approval of the people of the Common
wealth. The present system was a bas-
tard Loco(oco system, and the Locofoco
party would turn around and deny their
own offspring in less than twelve-month.
Notwithstanding the unanimity with which
Locoloco members were sustaining all
these Banks, we should have the same
blazing hand-bills posted up at the corners
that have always been brought into requi-
sition heretofore on the eve of election,
telling how a few ' recreart Democrats"
for that's the term, - united acith the Fed
erafisfs 10 carry these monopolies and
special privileges, through the Legisla-
turc."
For himself he was tired of this mon
strous humbug, and he should therefore
vote against the re-chartcr of all these
banks. This rotten corporation system
was bound TO explode. As he said before,
IL was a bastard Locofoco system, and
he would have nothing to do with ii.
He was in favor of the system of Bank
ing on State and United States Stocks.
This was the only safe SYSTEM system
which not only required dollar for dollar,
but put the capital in the hands of the
State Treasurer, where il could neither de-
preciate nor diminish, for the eventual re-
demptlon of the notes.
Mr. Beaumont. 4 full blooded locofoco,
seems to think no more of the measure
than DR.. Burden, aud lately pronounced
the celebrated bank bill perfected and
passed by Mr.. Laird rs an abortion; of
no effect, and not important as changing
the fundamental principles OF banking.
He seemed to hold TO what Mr.. Sankey
pronounced it Ill the Senate, bill to fur
nish an excuse TO Locofoco radicals for
voting TO charter and rc-charter banks
The only bill of importance that has
been under consideration, is the Revenue
Bin, leyying a tax upon Billiard and Bowl
ing Saloons, Theatres, Brokers, &c, &c.
The Financial Committee i'll the Senate
amended the bill by the addition of several
new sections, authorising the Governor TO
contract loan of $500. 900 at rate of
interest not exceeding four per cent per an
um, and comforting upon the holders OF
such loan the privilege of banking, upon
the principles of what is commonly known
as the Free Banking System.
Upon the final passage of the bill, the
yeas were ls, nays IA.
:. In the Senate, on Wednesday, the ap-
portionment bill passed second and was
prepared for third reading. Junlata,
Mifin, and Union form Senatorial dis
trict. and Union and Juniata a representa-
tive.
In the House, the Lebanon Bank bin,
which had been voted down the DAY before
by large majority, was reconsldered on
motion of Father Meek, of Centre county,
and passed.! Whether this result was
brought about by night of prayer or
conviction that all the reverend genteman's s
previous opinions about the rascahty OF
banks were wrong, we cannot tell. His
constituents viii probably call him to ac'
count, when we suppose the mod"s ope-
randi will be explained.
Among the acts passed by the Leglsla-
ture and signed by the Governor, are the
following -
RcIaIiue 10 Ground Rents.