The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-07-10

tice All Of this remaining portion which taksnt
stockholders at an early date, Is disposed Of Ths u
crptions have been mostly from shareholders on the
OF the road and the lots exceedingly well placed
distributed
Proposals fer the first mortgage bonds Of the Whining
ton and Manchester Railroad Company will be received
at the office Of Winflow, Lanier Co, SO Wall street.
until o'clock to morrow-Thursday FUN particular
of the companys affairs, &C. win found in another
column Three hundred bonds, of $1,000 each, win be-
sold and have doubt the names Of some of our
largest and shrewdest capitalists will be found among
the bidders The bonds bear per cent interest.
and are well those any IN road COIN
psny in the country Edward sandford ESQ.,, Of this
city trustee the bondholders which SUFFICIENT
guaranty of the faithful performance OF that part the
contract.
1t proposed In the Senate of this State by way
amendment to that section Of the Nine Mliora
Canal bh which makes the scrip issued under that,
bill receivable by the Comptroller security for cir
cuating notes, that notes issued should have
crossed upon them secured by canal revenue
6cates" in whole in part, the fact may BE- The
proposition of defeated Under the Free,
Banking law of this State the Comptroller is required to-
have inscribed upon the bills countersgned at the bank
ing departmen Mt The words secured by State stocks" IL
the basis of the issue lie the stocks Of this State an.
secured by stocks and mortgages" such Is the mixed
basis Of circulation and the object Of the nendment
proposed simply to carry out the system bgving
currency its proper designation We little curiousto
what will be the result Of this There must fraud
somewhere If the bills issued the basis of the cana
certificates security marked "se1ureci
by State stocksn will be false represen tation, and
fraud in the most favorable light be viewed The
"Nine Million Loan Canal bill conceived in in
quity and corruption will mark its throu yhou
1t is mean contemplate scheme arranged by few
potcal thrust
treasury they found plant tools enough to perfect
carry out the plan The Attorney General Of the
State must act in this affair lie can do constitutions
ally and the object nancering leg isators ra
view be frustrated, and the affair npped in the
bud 1t is the duty Of the Attorney General to bring
this matter before the highest court Of the State
end have it's constitutionalty settled at Before
the first step be taken by the government to-
put forth such Illegal, unguarantied security,
an injunction must be served upon them, and arrest
the whole movement 1t is argued, that the Attorney
General is employed to prosecute for and defend the
in all SUITS and that he is the legal adviser an
counsel Of the government This is all enough
far gees when the suit is by the State for the State
in the Of the State. The Legislature Is not the
whole the State government, and the other depart
ments have right have the constitutionality Of
any act of the Legislature tested The Attorney Gene
raj has such right and trust he will use It, 1t vii,
be asked who the State in the proposed su
this will that the suit is not against
the State, but against those officers others who at
tempt execute the law and those who sued will
look out for defence We doubt IL the law intend
ed to restrain the Attorney General will deter him from
his duty this matter that law is just unconsti-
tutiona the Canal bill itself There is fixed deter
mnstiop the part of the Legislature 30 put this in
iquiteus through, at any and every sacrifice
With respect to the time that the issue of cerh
the bank notes founded thereon is to be made
adopting the senten ous and brief language of another
grammar and ALL would ask rs those bcnds ready! p
The Auditor of the State Of Ohio gives the annexed
condensed statement of the condition Of the banks OF
that State the first day Of May, 1851, compiled fro
Official returns made to his department There are
twelve ndepe banks foryone bran ches of State
bank and five old banks. The aggregate movement Of
these fifty eight banks the LIST Of May, follows