New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-01-21
BY TtltGnlPH 70 THE NtH-Y02k TRIBUNE.
NEW-YORK LEGISLATl IKE.

NEW-lDRk LEGIsL&Ai hb'
sEyATE----ALs.Sr. Saturday Jaa. o.
Aesss CEo-s snd STANTON vere nsilel a. 49, -, -
members Of he Committee 20 whom vas referred .
CODE.
p NJ MiLlEh, b 70 provide l'r ne edaosH'h % ne
poor N A-orls
BY Mr CRoss Of BIZ 20 DIVIDE he SIKH and seTenia
Mr COOK cae I'd h.. resolutions declsrng II proper 10
ps-s spe-iAl charter lOr = Savings Banrs
NJ Ks rs r. rrsrar-f 20 vote on tho resouuous-
lie was utterly opposed 10 a. specis legislation IN PAGES
where general avs wol.G prove equally a. INA seoI'
va. CONTRARY 70 tie spr End Of our CoEflluoo and
Nj COOK -arugb Arguments Of be se@S.oL ron. ne
= ae-eern proved altogether TOO mgch- Nhere t1rse
Banks thrown under general sw you pace o. .e
on one eels. footing consunina-e fasc-. a. -,
man. He thought tia; II TIE principal object Of tnre ns
the funds Of TIE poorer az. rom &c
probation heu they could not sal ssc,oIiy - -
ranged under general ia~ The poor "olId ID ne Is-
he SUI The depredatons u snsvery and rsscA
Mr. MASN thou GIT that k1aves ana scolnd cou1
Charters interest In SAVINGS Benss a. Ne a.
others Were not the Legislature az liable 70 give Chefff
NJ Mill ssid the 80 e object n Safety FUND Banks
the afkeepng with some small profit, and safe return SD
demand Of he funds Of the poor Ia consequence Of ihe
Ignorance Il fhy osn their money for safkceping 80 o.
os' II they ny keep about them u Il oen stolen
ana bv having surplus money hand they are ohen tempt
I'd n o1trsva ar Expenditures. r. this system which has
grown from small beginning IN % one OF no sfrae-
moral lereS+s Of The age q, worthy q being cherished
Should carefully guard aud Keep u ron NC hsnds
OF ile dishonest AMI unprrciPed Tbs cannot ne cone
sufficiently under genera .aw , ..,
some further DEBATE had in which participated
among those who lad already spoken Nj btthNiN iof
and NJ Sr0NE sgsins. The resolution me qle'oh De.t
NJ Coos said hist for he purpose 81 having eNpIe-.oh
ofnI senae on tn.s subject be- ~ond move 10 fe'"l-1ef
and .ei the motion he on he abe
UNEISIsHED Rus Nzss
TIE Committee Of The Whole, Mr NoIrs IN NE , mar
reported progress he act l reference t me A'A' NJ
Banks snd individual Bankers Adjourned.
ASsFMBLY-BrPoETs
NJ LEAvrNwoRTH reported complete bal 10 amend
Charter 0f 'he Hudson River Railroad Company
&
m Courts Of civil and criminal jurisdiction m Tue Cry OF
Brook ynsso vorsby the bill for The reAei oil -l1ors N
The Auoraey General sent IN Ii. an.eI TO tie Se9sic'
Charters for SAVINGS Banks ItisAs folows
ATTORNEY GrNFRALs OFFICE Albany, Jan. "a, 1850.
r. ~, Senate of the state Of Nei0- YORK
The Attorney General has The honor 10 acknowledge ne
receipt Of the resolution Of the Senate Of the ih inst here
attached where IN his opinion under the IN sec
ton Of Tie 8h article OF he Constitution o. me hegis ..s
bas power TO create Savings Bank or Institution 10y spe
cal sc ofnoorporston Am Inclined TO the opinion from
examination Of he charters Of the eAsung SAVints
Banks ina; these institutions are no' Chartered f hahAug
purposes within the meaning Of tie an section OF e ah ar
ce a the Constitution TheY IN fact merely iris' 81
sOcaious aching uncer corporate powers 81 OF Wncn are
up0scd the security OF the deposits and for that pur
poc Only These Institutions DO not profess nor DO they cA
Sc Of be term They do NOT discount they issue no
bills other circulating medium sell no drafts have no.
iuirg do with exchanges possess no capita az base
of blrbag and in short a. poyrersss over the currency
he country would be- nsked barter Of the money
located with il.n safety aud responsibility the
what intended by their creation viz safe and pro
dIcve place deyosi OF Tie money of persons NJ sfna
means They called Bank but theif tr1e character
DEPEND The powers conferred on Them bd on NE atis
c they DO and the ly Is Icn 'uev are known
lav receive money IN small sums mostly from poor per
sous-stranis laborcs and mechanlcs-msle and female
degois and invest the same m stocks or on bonds ana
motfgage and The money drinaud ~ Tae oi IN
the legal raie and usually OeleFe Al
PER cent They make dividends aid The oincers are pao
thu difference the rate OF interest received on hNts
and that paid on deposits II "a dhcuN 10 conceive
ta such an institution J, Bank IN any proper sense o
term that OF TIE Leg stature creating SUCH cor
poralou would be granting special charter tor banking
purposes Whether the ohjectss of thus KIND OF corpora
cusvey for the determination Of the Legislature " heN
eau thus attained then special charter cannot he gFsh
eli without violation of tie irsi section OF me sald esuh
a. Gle Respectfully submitted,
l. : CHATFlELD. Attorney General.
Motion pending reference OF Slavery resolutions TO
S-ecf Committee The motion lead 90 protraciesl and
exciting debate N which Messrs Pruyn, Burroughs Mon
roe ; W smith. Ford, Raymond and DAVIS took part
rrfr Select Committee, which motion was seeohde"
All The House directed the reference by vote 81 % 70 81
The I'm 10 amend the charter Of the Hudson River Ran
ROAD Comu.ny was read tlrd time aud passed. AYES l
o.. were received Together win COMMUNICATION from
u, Governor urging review 81 ne ls"s Tsa"hs ~ ~
department ard Diners connected with mo Mlua OifAi
ZaIon of The state.
Nr THOMAS. Of bli n relation 10 maAhS Ass'-shehls
OF rca. and persona. property =,
J. " SWIM called up his resolutions allowing mo Jn
dietary Committee invite Tie Code Commissioners TO 81
with hem while considering hat subject
W II ROBINSON moved an amendment usi me judges
81 he Couu of Appeals as wei a. Ae COMMISSIONER
should be invited II the Committee wished
ar BuRKoVei moved 10 lay the subject on he liable
H. W SNI1H called the Ayes and Noes carried Ayes'
l.. Noes. q .
Mr. NANptkzEE brought in oil % incorporate the A.
b,nv CITY Savings Institution. Adjourned.