The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-04-08

y; :: *. e. q %
apply the said trust fund Belonging sler o. makers
s. 81 n s a
sssp, sac ant T. the q sh, act and
II b. opinion most eneesuay loss holder
;, &c r., e,. Il said en.e. so
.. .is 4 :. ssnf Il p.
.. Of Ss pf s.ssp
stths saak or usual place Of business Of such asc.n
per cent par .asan rs1 tbs tine Of such refusal
the . 4. Of debt sA %
msiimi,cd w the netee VI the controller presided by
@ a,s' sa'
tie heldsr shA be entitled receive and II
note ~ish interest from the bfs, aensnd shall be
Mr. fowss,sn 70 init the bill with instructions
1d Snser IN the and nss Il. word
rercn NJ orrc..d the nrt eeton which provides tina.
sy other hank without having presented at,
s S.rs UNJUST
to adopt ore mode for the goysmCnt Of and
wrong erroneous principle that if IN
il passed. there would be vetoed ~ tie executive
% M the q the hu r word ss .Isa
sons that bill should be equally applicable to persons
Mr. rspsRwoop opposed the proposed amendment Tie
went into defence Il the provisions Of the bill which.
he sad designed to defend country banks against
the attacks the proposed Bank Of the Metropolis. Ia the
city 81 New s I'll. hiding specie for their notes.
II not designed in any way to interfere with the
right. cf individuals but simply to defend weak
porai against the attacks 81 the strong The OBJ
ject Of this fanh q the Metropolis to compel the
country banks to keep large deposit with the institu
on and thus, Willie it contracted the ability of the in
stitution in the country 10 accommodate their custom
os it transferred much capital to the city to be used
10y the customers Of the mammoth institution there lie
contened tina! ii was the function Of The Legislature to
regulate the currency aud not the business OF nst
ton raised up fer iha, purpose Mr. read from let
ter OF A. D. johnson Eq. i'll opposition TO par redemp
tion in the city Of New York and the measures to he
adopted towards compelling that result Mr. T. said in
conclusion that Castle Garden had underworld to rcgu-
late the politics 81 the State and engaged in
attempt regulate the currency of the State lie
Cd they would fail and that this motion to re-eommt
would not prevail.
Mr. TowNsESp replied to the positions Of Mr.. Under
wood lie was willing to go all reasonable lengths in
Tending the institutions Of the country from unwarant
able attack lie in favor Of suspcnding those pro-
visions Of Flaw which inflicted extraordinary penalties or
excessive costs Of protest. but this might interfere with
the contract expressed the face Of each note that the
bank would pay at its counter the full face OF each note
and compel the holder to submit 10 the reduction OF
quarter per cent This discrimination he held to be
unjust and ineXpedcnt and not warranted by anything
which had transpircd in the organization Of the ins u
tion to which reference had been made.
The motion to recommit was farther advocated by
Messrs. NARSrM and A. A. THOMPSON, and opposed by
Mcssrs, FERNS and HORROR.
Mr.. .VAR>vM moyed another amendment, instruct
ing the committee to repeal all laws compelling the banks
to redeem il two paces-lost.
The motion If Mr. TOWNSEND also lost, and then
the report Of the Select Committee agreed toayes
o. nays land the bill ordered to Il third reading
Mr. H. Hams reported complete the bill to incorpo
rate the CUhoes Saving institution
Mir RorsE moved that the bill to authorize the super
vscr Of Oneida county to borrow money do now have
it. third reading Mr. r. explained the which
rendered prompt action necessary The bill accord
ingly read and passed.
ORDER.
The Cod shtee % the Whole. Mr. Moss in the chair
took up the special order being private claims and the
following passed in committee, unless otherwise
noted -
For relief VIM. J. Nelson. and Ira Z. Phillips. This
ill elected considerable discussion the question Of
allowing interest the amount due TO be claimed from
the State hut before the question disposed Of the
House took its recess to O'Clock.