Weekly national intelligencer., 1857-10-10
PENNSYLVANIA LEGIsLATURE.
orrsspondsncs Of the Philadelphia Epaing Journal.


Correspondence of the Philadelphia Epening Journal
HARRISBURG, OcToBER I.
Matters look blue here this morning and that COM
plexion is deepening its shade every hour The House
exhibits disposition pass any relief law in the pre-
sent exigency There is stong inclination to adjourn
at once The Senate however will oppose this and pre-
vent it. The Governor summoned the members to meet
him last night at his lodgings when he solemnly ap-
pealed to them to some measure fitted to the neces
stiles Of the crisis. This conference however has pro-
duced no visible effect yet may de good but much
doubt it, There but few persons here from the nte
rior and they are quite Indifferent the result The
Philadelphians alone are anxious.
The special committee of the Senate ON the Governors
message had session last night, and this morning
stormy discussion ensued The committee failed to agree
and asked for further time for deberation The Senate
thereupon adjourned until three o'clock p This step
has created the most painful misgivings among the
friends of the banks they almost despair of eectng
iegazaon of the suspension Party considerations are
apparently predominant regard for the public inter-
ess and this together with the miserable zeal of certain
members to make themselves prominent and oicious,
threatens to defeat definite and satisfactory action
The Memorial Of the Banks.
The following is copy of the memorial that has been
sent to the State Legislature by the Banks of Phade
pha asks that the penalties and forfeitures imposed
by the act of 1850 and other acts shall be temporarily
suspended and in the event of failure obtain this re-
he the Board of Presidents say that there remains no
alternative for them but to into iqudation-a mea
sure which they most desrous avoid on account
of its disastrous influence"
meeting of the Board of Presidents of the Banks
OF the city of Philadelphia held the Sd day of Octo
Der, 1857 the following preamble and resolutions were
unanimously adopted and directed to be forwarded to
the honorable the Senate and House Representatives
of Pennsylvania:
WHEREAS the banks in this city in consequence of
the effects of the sudden and universal severity of the
financial crisis which has overtaken the country have
been reluctantly compelled to suspend the payment of
specie for their notes and obligations, Notwithstanding
every effort has been made by them to avoid such
sty and whereas the mercantile manufacturing agri
cultural and all other classes of citizens are greatly
by the existing condition of things towards
which, under existing circumstances it is not in the
power of the banks afford such relief as the expencies
OF the community require in consequence of their labor
ing under the forfeures and penalties of the act of 1850
and other acts and whereas it is the desire of banks
to resume the payment of specie at the earliest prac
cable PERIOD and to do what they towards restoring
the currency to sound and healthy condition and in
the mean time assist the business portion of the commu
nlt which objects cannot be carried unless egsla
tive foreitures and penalties temporarily suspended
Therefore.
Resolued, That in order to enable the banks of this
city and of this Commonwealth resume the paymeht of
time render such assistance may be within the powen
of the banks to the mercantile and business community
it is essential that the penalties forfetures imposed
by the act of 1850 and other acts be temporarily
pended.
Resoved That in the event of the failure of the banks
to obtain from the Legislature relief from the foretures
and penalties under which they at present labor there
remains alternative for them but that of going into
liquidation; measure which they most desrous to
avoid on account of its disastrous influence the
munity and the banks.''
AT Mass Meeting of the Business Men of Phila-
dephia, held on Thursday afternoon, to consider
the existing crisis and the best mode of alleviatng
the general distress, the following preamble and
resolutions were adopted:
Whereas the representatives of the manufacturing
mercantile and industrial interests of the city of Pha
delpha in town meeting assembled irrespective of
party in view of the present unparalleled distress which
is now pervading all classes of business community,
most soemnly state to the General Assembly of the Com
monweath now in session, that in the honest opinion of
this meeting prompt relief is required from the repre-
sentatves of the people for the benefit of the people
themselves:
Therefore, resolved, That we do most respectfully in
woke the Legislature to pass law which will enable
the manufacturer to keep his workmen, and the other
branches of business to retain in their employ the
and women whose bread entirely dependent upon their
daily labor.
Resolved That the relief should be simple and compre
hensive not fetered by provision impossible be exc
cuted in of trial and panic but such as will tend
restore confidence in the general sovency of our peo
pie, and bring into active and beneficial circulation the
products OF our fields, mines, and workshops.
RESOLVED That implore the Legislature consider
the suferngs which must inevitably follow in every de-
partment of labor and to those also who have to ex
change values merchants, traders and factors if
some relief be not promptly afforded by the present Le
gisature.
Resolued, That the proceedings of this meeting be
published and copy sent to each member of the Legs
lature.
Accounts from Harrisburg state that better feeling
has become apparent in the State Legislature The spe
cia committee of thirteen appointed by the House
Thursday afternoon, and agreed upon the general prn
cipes of relief BILL follows To legalize the sus-
pension until the 1s of March, 1852 extend the stay
of execution six months longer than is now allowed by
law; compel all banks to receive the notes of other
banks no bank to have the power dscredt the
OF other banks upon statement sworn to by the
president and cashier and forwarded to the Governor
bank notes to be receivable in payment for revenue by
tax collectors and the banks redeem in specie their
notes when paid for tolls subcommittee was
appointed to draw up the bill in due FORM and will meet
on Thursday night to perfect the details The cinit
tee which planned this bill is composed of seven Demo
Gratis and six opposition The House refused to consider
bill establishing free banking system, and also re-
fused to consider resolution adjourn finally on Sa
turday 1t adopted resolution to appoint committee
of six to inquire into the of the present financial
Distress and to point out the appropriate remedies
PRICES OF STOCKS AT NEW yopU