Evening star. [volume] (Washington, D.C.) 1854-1972, 1858-01-29
WASHINGTON NEWS AND GOSSIP.

RsLAr1oNs-The New York Erentng Post
of Tuesday last, contained an able and inter.
esting leader upon the subject embraced in the
caption of this paragraph. The object of the
writer is to show that the distinguished Senator
from Illinois cannot much longer remain in his
present anomalous political position. Thus, he
makes it clear that Senator Douglas cannot
hope to bring the Democracy of the South to
his views, nor can he possibly hope to carry with
him a majority of the Northern Democracy
against the National Administration and the
unanimous Democracy Of the Southern States.
He, therefore, concludes that Mr.. D. has but
one of two courses left for him to pursue. Viz
either to become a member of the Republi-
can party, in full communion, carrying as
many of those who have been bis personal
adherents up to this time, as possible, with
him or to retrace his steps and no longer
stand in the attitude Of an opponent of the
measures and views of the Democracy while
claiming to be high priest in the Democra-
tic church. The article in question is so terse
and forcible as that it must necessarily have
the effect of opening the eyes Of thousands at
tached to the Senator personally, who are not
disposed to give up their connection with the
Democratic party, to the fact, that he and they
cannot possibly remain stationary in their pres
ent political position, but must head back again
to their old party associations, or drift, nevita-
bly,, whittier all have drifted who have flown
of at tangent as they have gone of, and re-
main for asy length of time nominally of the
Demo 'racy, but really, aiding and abetting the
policy of the opposition with might and main.
The DISTRICT OF COLUMBIA BANKING Sys-
rEM.-Below we publish a synopsis of the pro-
ceedings in the Senate, yesterday, with refer
ence to the banks of this District, which will
prove of general interest to our fellow citizens
At present we are unwilling to express an
opinion upon the bill reported by Senator Sill
dell, not having had an opportunity to examine
it. We are indebted to the Mteiligencer for
this abstract
Mr.. SIidell. from the select committee to " h:cb
was referred the resolution of the Senate of the
18th Of December last, to examine into the condi-
tion OF tins corporations or associations acting
oanss OF deposite disc cunt, and issue i'm the Dis
| trict Of Columbia, and the authority under which
said corpol atoms associations assume to trans
act the business Of banking, &c submitted
report, accompanied by a bill TO prohibit the
issue of bank notes by corporations, associations
or Individuals within the District of Columbia (;
and, further, the prevent the circulation Of bank
notes issued bv any incorpo, ated conpanv or as
ISOLATION of individuals located beyond the limits
OF the District Of Columbia of less d.nomina-
ton than $50.
1.-The hrst section of this bill declares that after
tue LIST day OF April next il shall not be lawful for
any person or any association whatever. chartered
or unchartered, within this District. directly or
indirectly, TO issue or reissue, pay out, pass
exchange, or put in circulation any bank note
bill, certificate, or any acknowledgment of in,
deb edness of any nature, character, or appear
ance OF bank note, and that ohy person so doing
| shall be held to be guilty of high msdemeanof
and on conviction thereof shall he fined not less
than nifty dollars nor more than five hundred, and
may be imprisoned for period of not less than
| three nor more than twelve months.
The second section provides that after the LIST
OF pTil II is made unlawful to issue notes or nav
out any note Of less denomination than fifty dol
lars of any bank not located within the District
OIL columbia, and subjects all violations by banks
&c, to fine of $500, and by any other person to
fine Of S25, one-haf to the informer and the
other half to the United States
The third section makes, in addition to the
civil penalties for violation of the last prece.
ding section, high misdemeanor and upon con-
victlon before the Criminal Court shall be fined
not less than ten nor more than one hund d dol
lars.
The report is an elaborate one CONSISTING of
some thirty odd pages, in which is given sue
cinct history of the banks, the times of charter
&c, and says, among other things, that 1.-The
question Oh the legality Of The contracts made by
the banks that have heretofore enjoyed the priv
llegeS OF incorporation is one between them and
their debtors, in which the public have no con-
Germ, ana the committee has disposition to
speculate about the probable results OF any oues-
ton OF that kind which MAJ hereafter be brouy ht
before any Judicial tribunal. That of the curren-
CIV Is OF q very different character IL affects the
interest of every member Of the community and
Congress is bound, not only as the special guar
dian OF the people of the District Of Columbia
but Tor the sake of example To the nation ut large
to watch with the most IL alous eve eyP,y thino
that may have a tendency to debase it Were
mere any reasonable hope that we could return
| IN what the committee considers TO he the true
theory OF the Constitution, a total prohibition of
The circulation Of paper money issued under the
du'hoflty OF the several states, they would give
sucn measure their cordial support But, be-
liev1nT that the time to he vet distant when the
rational mind will be prepared for the adopfion
OF purely metali currency, they will make no
suggestions of general character, but will con
| fe-red to them -
IL goes on further to say Z" But whatever ad =.
vantage thty may or might have deI lived from
their circulation, these banks have no claim unon
the Indulgence OF Congress. They exist and carry
on business of not in direct and open d. fancp of
law, "a your committee believes certainly nv a
most shameless violation Of the spirit of all past
legislation. They have, with one honorable ex-
crptlon, (the Farmers and Mechanics Bank of
Georgetown refused to give the committee such
information d. will enable il 10 form any correct
IDEA OF their condition and solvency. The mere
array OF figures, showing a certain amount of as
sets In the bills discount. d. &c. is not for the
purpose OF any serious examinations worth the
paper ON which II is written. A bank NAV have
us portfolio bursting with pTomissory notes and
ether evidences of debt and he utterly unable 10
meet the demands OF its creditors and the refusal
10 permit any inquiry into the character of their
securities ID not calculate to create confidence in
their soundness," &c "
Your committee, after full deliberation, is
unanimously OF opinion that il is exp. dent to
prom bit the issue Of all notes for circulation in
the District OF Columbia not pressly authorized
by law to make such issues, and tc prevent the
circulation Of all hank notes issued out of the
District OF Columbia Of less denomination than
hfty dollars, and reports the following resolu.
ton:
hsSoIred, That it Is nexpedent to authorize
establishments either Of general or sp-cia! laws
iof banks OF issue within the District of Column
bia -
MI Slidsll moved 10 have il made the .pecial
order for Tuesday, the 9th of February, at one
O'Clock; agreed to.
bCSkUN New members of the House on all
sides IN politics have been delivering speeches
ior bunkum of late, encouraged to participate
IN that obnoxious practice by their seniors in
the public service, in some few instances we
regret TO have to state. So far, no single speech
II 10