The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1857-10-21
PENNSYLVANIA LEGIsLATURE.
A Relief Bill Reported IN The Howe-PasSags
ofa Bill in the Senate.
HARRisBURG, October Q, 1857.

!
ing for the printing of 1000 copies of the an
nual report of the Auditor Generals state
meut of the condition of tho banks on the
tits, discoun, 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 Il law giving relief 10 the banks
and the people.
Mcssrs. Brown, Ingram and Wright pre-
sentcd petitions from tho merchants, manu-.
lacturcrs, and mechanics, of Philadelphia,
praying for relief.
Bill No. I, concerning the banks, was Ia.
ken up on third reading.
Mr. S,raub moved to go into Committee
of the Whole, for the purpose Of striking out
tho cutre bill, and inserting one of three
sections, submitted by him as asubsttule.
The first section provides for suspension
of specie payments till LIST February, 1853,
and requires the payment OF specie for their
five dollar notes.
The second section provide for a stay Of
execution for one year.
The third repeals the Nth section OF the act
of April IS, 1850.
The motion prevailed ard was discussed al,
length by Mossrs. Slraub, KIlinger, Taggar,
Welsh, Wilkins, Finney, Brown, Gazzam,
Wright and others.
The substitute was amended by subslitu-
| GT.g pg ~
ond reading last night, but extending the time
for resumption 10 the second Monday OF
April, 1858.
Section 4lh of the bill passed last night re-
quirng the deposits Of the State to be paid
in specie, was also adopted as part OF the
bill.
Some other unlmporlanl amendments were
adopted, and the bill was passed finally by O
vote of 10 yeas TO 10 nays.
Adjourned ill tomorrow, al 10 o'clock,
A. N.
HousE.-The House met al o'clock.
A motion was made to purchase 1000 vol
umes OF the Stale Agricultural Report. Neg.
aived--yeas 9, nays SO.
The Special Committee of thirteen, which
was appointed 10 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 Committee.
Ths act, as reported, is entitled Bill fol
The relief of Banks and their.Deblors. II re
moves The penalties incurred by The Banks
and Savings Funds fora suspension OF specie
payment, until the lst of March, 1853; per
mS Banks TO discount and still pay out lhei
own notes bot sixty days after the lst o.
March, 1853, they must pay their deposits
requires that the Banks of The Common
wealth shall not declare dividends of more
than per cent.
The Banks Of Piusburg and Phiadephi;
shall publish weekly statements similar lc
those now made by the Banks of New York
All Banks shall receive the notes of ohe
Banks solvent on the 2lsl of September las,
II the President OF ary Bank makes oalh tha
any Bank is unworthy Of credit, three com
missoners shall be appointed by The Cover
nor 10 examine nlo the condition Of the Bank
SO complained Of; and 10 case OF the Bank
refusing the means for proper examination
by the committee so appointed, it thereby
fortets its charter. But any Bank resumire
specie payments before the 1st Of March shai
not so forfeit its charter, notwithstanding lhe
verdict OF the Commiss sioners.
The Ac, further provides: That all Revenue
Collectors shall receive notes of all soven
banks. All banks during suspension mus
pay cash for notes received by the Stale fol
tolls and taxes. On all judgments hereafter
obtained, execution shall stay six months
longer than now allowed BY. Jaw. In case;
where the party has freehold, no other secu
rity is necessary; where be has no; bail may
be entered. A stay of execution, however
shall not be granted for wages or labor. The
Directors of he different banks must accept
the bill within thirty days after is passage
and certify their acceptance to the Governor
And lhe Banks sha.! pay one-balf per cent
nto tie State Treasury before the first o.
January, 1883, for the privileges granted
them.
The above are the principle outlines Of the
Act.
Mess-s. Thorn, Yearsley, Bishop, Ramsey
Innes, and Getz presented petitions asking re-
iiei The psuititious were from The Board
I OF Trade Association, citizens OF PEiIadel'
! phia, and the citizens of Northampton coun-
, ty.
The Speaker presented the proceedings oi
The meeting held at Harrisburg last evening
The resolutions were read.
Mr. Thorn presented the resolutions adopt
ed by the meeting OF merchants and manu
faciurers of Philadeiphia, al the meeting ii
Independence Square, yesterday siternoon
which were read.
TIE bill reported BY The special committee
of thireen was ordered to be printed.
Adjourned til o'clock, F, NJ