Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1857-10-15

an act providing for the redemption OF spe-
Gle payments by the Banks, and for the relief
of debtors"
A motion was made to suspend the rules, SO
as TO put the bill on its third reading the
motion was lost, by vote of yeas Is, mays
-I2 two thirds being required.
Adjourn till 0 o'clock to morrow morning.
HousE.-The speaker announced the names
of the Special Committee of thirteen, ordered
by the resolution of yesterday, to report upon
the Governors Message The Committee con-
sists of Messrs. Mumma, Foster, Hall, Long
acre, Ramsey, of Philadelphia Thorne, Cal
hoan.~ Stevenson. Gildea, Kaufman, Bower,
Jenkins and Eyster.
The strongest men on both sides Of the ques-
tion relative to the Banks, are on the Commit
tee, which is composed politically of seven
Democrats and six Americans and Republi-
cans. ..5 H-a ..g,.e
Mr.. Ball moved to raise Committee to in
ouire into the causes of the financial Distress
and point out the necessary remedies .7r
Mr.. Thorne asked all explanation of the OBJ
jects of the resolution. ..-.. -.. tf.-.--.
The debate was continued by Messrs. Ball
and Hill in favor, and Messrs. Longacre,
Thorne and Stevenson in opposition.
The resolution was finally adopted, and the
committee was appointed, consisting as fol-
| lows :-Messrs. Ball, Foster, Dock, Calhoun,
Stevenson and Knight-three Republicans and
three Democrats. .a .<
On motion leave was given to the Commit
tee to sit during the session Of the House.
Adjourned till 10 o'clock to morrow morn
ing. r..r #sr5 F.. ... ..'a
.ea11' HAnRrsBunG, Oct. ., 1857.
SENArE.-The Senate met at 9 o'clock
| Mr.. Wright presented a resolution providing
| for the printing of 1000 copies Of the annual
| report of the Auditor Generals statement of
the condition of the Banks on the first dis
count day of November next, for the use of
Senator's at the next session, Adopted. r.,
The Speaker presented communication
! from tile Philadelphia Board of Trade for the
enactment of law giving relief to the Banks
and the people.
Messrs. Browne, Ingram and Wright pre-
sented petitions from tile merchants, manufac.
turers and mechanics of Philadelphia, praying
for relief. ........ ....-... ..... ~.
Bill No. l. concerning the Banks was taken
up on third reading ....
Mr. Straubs moved to 60 into Committee
of the Whole, for the purpose of striking out
the entire bill, and inserting one of three
sections submitted by him as substitute.
The first section provides for suspension
of specie payments, till lst Of February, 1853,
and requires the payment of specie for their
five dollar notes. ....
The second section provides for stay of ex-
ecution for one ydar
The third repeals the forty seventh section
of the Act of April 10th. 1850
The motion prevailed and was discussed at
length by Messrs. Straube, Killinger. Taggart,
Welsh, Wilkins, Finney, Browne, Gazzam,
Wright and Others. .....
The substitute was amended by substituting
the first section of the bill passed on second
reading last night, but extending the time for
the redemption to the second Monday of April,
1858. ......
Section 4th Of the bill passed last night, re-
curing the deposits of the State to be paid in
specie, was also adopted as part Of bill
Some other unimportant amendments were
adopted, and the bill was passed finally by a
vote of 9 yeas to y nays, as follows
YEAs-Messrs Coaey, Crabbe, Frazer Gaz-
zam, Gregg, Harris, Jordan, Knox, Laubach,
Lewis, Sellers Shuman, Souther, Straub, Tag
CART, Welsh, Wilkins, Finney, Speaker.
NAYs-Messrs Brewer, Browne, Cresswell,
Ely Evan Feller Fleniken, Ingham, Scofield
Steele, Walton and Wright. .....
Adjourned till tomorrow, at 10 A. NJ.
HoUSE.-The House met at o'clock.
A motion was offered to to purchase 1000
volumes of the State Agricultural Report
Negatived yeas 8, nays SO.
The Special Committee of thirteen which
was appointed to consider the various sugges-
tions contained in the Governors Message, re-
ported bill, and were discharged from the
consideration of the bills before the Commit
tee. ...
SECTION l, Exempts all the Banks from the
penalties incurred by the Act of Suspension,
and extend the time for the resumption of spe-
Gle payments to March lst., 1858. .
SECTION 2, Compels all the City Banks to
publish q weekly, and the country Banks a
monthly statement of their affairs and condi-
tions, under oath, failure to do which incurs
q penalty of one thousand dollars. ...
SECTION 3, Makes it obligatory upon each
Bank to receive the notes of every other SOL
vent Bank at par hereafter, but the President
of any Bank can make oath Of his apprehen-
son of the safety of any Bank to the Governor,
who shall thereupon appoint Commissioner
to examine into the affairs of said Bank, and
if proved unSound its charter shall be declared
forfeited by proclamation. The Banks resum-
ing specie payments before the 1st of March,
are exempt from the provisions of this section.
SECTION 4, Authorizes Collectors to receive
the notes of all solvent Banks for State pur-
poses. ... ..s.
SECTION 5, Prescribes that all deposits to
the credit of the State, shall be paid to the
State Treasurer in specie.
SECTION 6, Extends the stay Of execution,
except in certain cases, for period of six
months from the passage of this Act
SECTION I, Declares that this act shall take
effect Immediately, if the stockholders accept
II and certify thpir accentance to the ndit0r