The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1857-05-13

the banking capital of the State is increased
by this act.
Union Bank Of Reading, $I20, 700
Bank OF Caasauque, 400, 900
Bank of Killaring, 300 900
Bank of Beaver county, $50, 900
Pitsion Bank, 200, 900
| Commonwealth Bank of Philada., SOC, 900
Corn Exchange Bank Of Philada., 500 900
Union Bank of Pniladelphia, 1000
Chester Valley Bank, 100000
! Allegheny Bank, 100000
Lewisburs Bank (increase), 100, 900
| Doy lestown Bank, l50, 900
Total, S3,a20, 900
Three million four hundred and twenty
thousand dollars of an increase to the bank
ing capital OF the State in one week by the
act of a Governor who, two years ago, in
veto message TO the Legislature, opposed the
indiscrminate increase OF banking capital.
To contrast this act OF Governor Pollock
with the sentiments expressed by him al the
session of 1855, in his veto Of the Pottslown
bank, and show now widely his opinions and
his actions are apart, make few extracts
from that document. 1t is peculiarly appli.
cable TO the present time.
"Bu, The number OF applications is no jus.
criterion by which TO determine either the
wishes or the wants of the community in this
regard. Their number and The perlnaci,y
with which they are passed, have startled
and alarmed the public mind nor has the
favorable action of the Legislature, in granting
these demands, served 10 allay the apprehen-
sions and fears thus excited. The policy of
The past lew years may have been TOO severely
and unnecessarily restrictive; yet this policy
should be preserved, rather than abandon the
State aud the interests Of her people, TO the
destructive influences of a wild and reckless
system of banks and banking. That some
increase OF banking capital is necessary in
certain localities, will not be denied; that n
large increase is not demanded either by
public sentiment, or the public veal, is a
truth equally deniabe. In the creation OF
banks, a sound and honest discrimination as
10 number, locality, and the demands OF
trade, should be exercised The sudden aud
unnecessary expansion Of the currency should
be avoided and whatever tends 10 produce
such result, ought TO be discountenauced,
and if possible, prevented"
This was the deliberate opinion expressed
by Governor Pollock two years ago, ye, at
the same session of the Legislature he set at
noush, his own doctrines, and signed nearly
every bank bill that was presented TO him,
where the legal requirement as 10 notice had
been complied with. Ii is fair 10 presume
that he intends TO sign all the bills passed al
this session, having already forgotten 10 exer.
else that sound and honest discrimination he
once promised the public No such discrm-
iuation having been applied thus far, there is
TO reason TO believe that ii will be. The fact
is that the Governor, although an homes, and
well gaming man, has not !he nerve TO re-
sist the importantly of bank applicants, and
the pressure brought TO bear upon him.
The House was engaged all day in the con.
sideralion OF the Senate amendments 10 he
General Appropriation Bill. They were gen.
orally concurred in, including the section de-
creasing the rate OF State lax on real estate
from three TO two and half mills on the dol
lar, and increasing the pay of members of
the Legislature from $500 10 500 for the ses.
sion. In order to avoid direct vote upon
the section increasing the pay Of members,
the amendments were agreed to in a body.
Members dislike 10 have their names recori-
ed in favor of voting extra compensation into
their own pockets, and resorted 10 this arful
dodge 10 accomplish i, without seeming 10 Go
so.
The Senate is a, work on the bill for the
sale OF the Main Line, and, so far, ii has had
large majority in lis favor. 1t seems 10 be
foregone conclusion that this bull will be
pushed through The Senate without being ma
ierially amended. NJ