The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1857-10-21
Pennsylvania LEGISLATURE.
Il Relief Bill Reported in The House-Passage
ofa Bill in the Senate.


Il Relief Bill Reported in The ouse-Passage
efa Bill in the Senate.
HARRIsBURo, October. o, 1857.
SENATE.-The Senate met at nine o'clock.
Mr. Wright presented resolution, provid-
ing for the printing of2O0o copies of the an.
nual report of the Auditor Generals state
ment of the condition of the banks on the
first discount day of November next, for the
use of Senators OF the next session. Adopt
ed
The Speaker presented a communication
from the Philadelphia Board of Trade, for the
enactment of law giving relief 10 the banks
and the people.
Messrs. Brown, Ingram and Wright pre-
sented petitions from the merchants, manu-
facturers, and mechanics, of Philadelphia,
praying for relief.
Bill No. 1, concerning the banks, was Ia.
ken up on third reading. .....
Mr.. Straub moved TO go into Committee
of the Whole, for the purpose of striking out
the eutlre bill, and inserting one of three
sections, submitted by him as asubstituie.
The first section provides for suspension
of specie payments till lst February, 1858,
and requires the payment of specie for their
five dollar notes.
The second section provide for stay Of
execution for one year.
The third repeals the 47th section OF the act
of April Is, 1850.
The motion prevailed ard was discussed at
length by Messrs. Straub, Killinger, Taggart,
Welsh, Wilkins, Finney, Brown, Gazzam,
Wright and others.
The substitute was amended by subslitu-
ting The first section of The bill passed on Sec
ond reading last night, but extending the time
for resumption 10 the second Monday of
April, 1858.
Section 4h of The bill passed last night, re-
quiring The deposits Of the Slate to be paid
in specie, was also adopted as part of the
bill.
Some other unimportant amendments were
adopted, and the bill was passed finally by a
vote of 10 yeas to IL nays.
Adjourned till Tomorrow, al 10 o'clock,
a M. -------------- ssa'fa7s ,s=asfse
HoUsE.-The House met at o'clock.
A motion was made 10 purchase 1000 vol.
umes of the Slate Agricultural Report. Neg.
alived--yeas 9, nays SO.
The Special Committee of thirteen, which
was appointed TO consider the various
| suggestions contained in the Governors Mes.
sage, reported bill, and were discharged
from the consideration of the other bills be.
fore the Committed.
The act, as reported, is entitled Bill for
the relief of Banks and their Debtors. II re.
moves the penalties incurred by the Banks
and Savings Funds for a suspension Of specie
payment, until the ist of March, 1855; per.
mis Banks 10 discount and still pay ou. their
own notes. bul sixty days after the lst Of
March, 1858, d,ey must pay their deposits
requires that the Banks of the Common
wealth shall not declare dividends of more
than 6 per cent.
The Banks of Piasburg and Philadelphia
shall publish weekly statements simiar 10
those now made by the Banks of New York
All Banks shall receive the notes of other
Banks solvent on the 2iM of September last.
II the President Of any Bank makes Oath that
any Bank is unworthy of credit, three CON-
missioners shall be appointed by The Cover
nor to exsmine into the condition of the Bank
SO complained Of and in case Of the Bank
refusing the means for proper examination
by The committee so appointed, il thereby
forfeits its charter. But any Bank resumirg
specie payments before the lsl Of March shall
not SO forfeit its charter, notwithstanding The
verdict of the Commissioners.
The Act further provides: That all Revenue
Collectors shall receive notes of all solvent
banks. All banks during suspension must
pay cash for notes received by The State for
tolls and taxes. On all judgments hereafter
obtained, execution shall stay six months
longer than now allowed bylaw. In cases
where the party has freehold, no other secu.
rity is necessary; where he has moi bail may
be entered. A stay of execution, how ever,
shall not be granted for wages or labor. The
Directors of The different banks must accept
the bill within thirty days after It's passage,
and certify their acceptance to the Governor.
And the Banks shall pay one-half per cent
into the State Treasury before the first OF
January, 1858, for the privileges granted
| them.
The above are the principle outlines Of the
| Act.
Mess.s. Thorn, Yearsley, Bishop, Ramsey,
Innss, and Geiz presented petitions asking re.
| lief. The petitions we're from the Board
| of Trade Association, citizens of Philadel'
| phia, and the citizens Of Northampton coun-
y. i'@ @t
! The Speaker presented the proceedings oi
the meeting held at Harrisburg last evening
| The resolutions were read. e. t"sfN
Mr.. Thorn presented the resolutions adoptl
ed by the meeting Of merchants and manu-
fac.urers of Philadelphia, al the meeting ID
Independence Square, yesterday afternoon
which were read.
TIE bill reported BY the special commiltes