The Washington union., 1857-10-01

Thomas Sargent, of Iowa, receiver ofpublic moneys
at Fort Dodge, Iowa, in place of V, p Van Antwerp,
resigned.
GOVERNOR POLLOCK AND THE PENNSYLVANIA
BANKS.
The following is an extract from the proclamation
of Gov. Pollock of Pennsylvania, calling an extra
session of the Legislature of that State
Whereas serious financial revulsion has occurred
resulting in the suspension of specie payments by the
banks of this and other States of the Union and the fail
ure of many long established commercial houses leading
the destruction of confidence and to the general en-
baassment and depression of trade and threatening to
affect disastrously the credit of the Commonwealth and
the great industrial interests of the people, &c.
1t will be seen from the above that the attention
of Gov. Pollock has at last been diverted from
bleeding Kansas to bleeding Pennsylvania 1t
is not many months ago that the governor recon-
mended to the Legislature of Pennsylvania to appro-
pirate funds Of the State for the aid and comfort OF
the freedom-shrieking followers of General jim
Lane and Governor Robinson and we now find his
excellency invoking the presence of the same egis-
ature not for the purpose of upholdng and protect
ing the industrial and producing interests Of his
State but to give countenance and absolution to in
stitutions that have openly and deliberately violated
the law that brought them into existence.
As the banks have succeeded in having all extra
session Of the legislature called, it is reasonable to
presume that they will obtain full forgiveness for
their illegal acts and that not only will their lost
privileges be restored to them, but ones added,
as reward, doubtless for the evidences which they
have furnished their suffering creditors of their folly
or, maybe, something worse. Why
such indulgences should be granted to corporations
and refused to individuals is question which future
legislators must settle and which inclined to
believe they will settle satisfactorily at no distant
day In the mean time, to show how deserving the
Philadelphia banks are Of special legislative aid
would merely state that at meeting of the presi-
dents and directors of the different banks Of that
city, held on Monday last, the following relief
measures were recommended and adopted:
suspension of specie payment on all notes, large
and small q The prompt issue of their own notes of
the smaller denominations for checks and all other OBJ
legations against them g. An increase of discount to
their customers with the object of afordng immediate
relief" us.. ...s.... .
The legislature is asked to legalize the suspension
Of specie payments To increase the duration of the
admitted evil, the banks promise to loan literally
their damaged creditto increase their contributions
to deprecated paper currency, and to increase
their amount, alarmngly large, of unconvertibe
and very questionable assets. If merchant under
protest. were to apply to the Legislature of his State
for stay of proceedings against his creditors, and,
while making the application, should publicly, and
even ostentatously promise to increase his embar-
while many might be disposed to regard
him as lunatic, others would be very apt to treat
him. not as an object of sympathy and compassion,
but as belonging to that numerous class who figure
in our criminal courts for obtaining money under
false pretences.
The needy and embarrassed do not apply to oth-
ers similarly situated for assistance; and to ut
distance it appears sheer folly for suffering bus
ness community looking to batch of suspended
banks for any positive pecuniary relief, matter
how small. Broken-down steamers are not deemed
particularly efficient for towing purposes; drowning
men were never saved by straws; and, we take it,
it would puzzle Philadelphia lawyer to tell how
an institution that is unable or unwilling to meet its
own obligations materially aid in meeting the OBJ
legations of others. The Philadelphia banks have
forfeited their charters by failing to meet the
sumed obligations to their bilholders and deposit
tors. In this emergency they ask of the Legislature
about to assemble at Harrisburg in few days two
things First, that the penalties which they have
incurred shall not be carried into effect
And, second, that they shall have full license for
a certain number of weeks or months to come to
keep on in the illegal course which they are now
pursuing.
In case these extraordinary demands are complied
WITH the banks longer restrained by the terrors
of specie redemption, will relieve themselves and
the public by enormous issue of exquisiely exc
cuted copper-pate engravings, in which their in
and promises will be set forth in style
best calculated to create confidence and credit; and
this precious currency-at business-destroying
discounts to be loaned at high rates to the mer-
chants and traders of Philadelphia.
These demands may be granted-the marvellous
sort of relief promised by the banks may be extend
ed--and borrowers may eagerly seek after the re-
newed promises Of faith-breaking institutions
the business men Of Philadelphia will yet discover
The utter hopelessness Of attempting to restore credit
with damaged credit, or of extricating themselves
from debts and difficulties with deprecated and
what eventually may in part prove an utterly worth
ess currency.
An attempt will soon bc made to navigate the Kansas
liver by steamboats, greater distance from its mouth