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THE? STAR OP THE NORTH.
* . • ; ,• ** * v aMMMmMM .—■••■^^^^^^^^^^^^^^HsssssHKaasssssKssssESESssssßsMeisasEssssssssafiSßtaWssfsssssßsptibjSßflGi^Wtt! fc.W. TTeartr, freprteUr.] VOLUME 9. TUB STAR OF TUB NORTH IS POBMBHKD EVERY WEDNESDAY MORNING BY H. W. WEAVER, - ©STlCK—Upstairs, in the new trick build ing, on the south side oj Main Street, third square below Market. 'lTltlHtt:—Two Dollars per annum, if , paid with iq six months from the time of sub scribing ; two dollars end fifty cents if obt paid within ihe year. No subscription 're- 1 ceived for a less period than six otoliths; no discontinuance permitted until all arrearages •re paid, unless at the option of the editor. ADVERTISEMENTS not exceeding one equate 'will be inserted three times for One Dollar, end twenty five oepi* for each additional in sertion. A liberal discount will be made lo those who advertise by the year. THE MONEY CMS IS. [We desire to call the particular attention of'-our matters to the following powerful dis course by the great Iconoclaetio Divine Kev. Theodore Parker, of Boston, delivered last Sunday, the report of which we copy from Ihe Boston Bee.] THKODOBC PARKER O* THE PRESENT COMMER CIAL DIFFICULTIES. Rev. Theodore Parker preached yesterday, at the Musio Hall, a " Sermon of Hard Times," which was listened to by or.e of the largest congregations ever assembled in that spacious Hall. He took bis text from 7th Eccletiastes, 14th verse—"ln the day of ad versity consider." He commenced by saying that it was the duty of the man of science to interpret the world r tf matter to other men, and tell Ihe meaning and the use of things; it was the duly of the astronomer to report of the heavenly bodies, telling mankind the facts connected therewith—their übo lor m*n's material business, their meaning lor his'epir itual development and delight; it was the duty of the botonist to deal with those bodies which grow out of the ground, the water, the air, learn what they are good for, and how they grow ; it was the duty of the doctor to study human bodies, learn their structure, set forth the conditions of healih and long life, and warn men against what will shorten their dsys. All theee men of science woohl make raitlakee, observe wrongly, analyze imper fectly, reason amiss, and so fail of truth, though aiming at it, but their very errors were steps towards it, and if they stumbled, they fell forward and upwards. So ihe minister was to study the phenomena and essential nature of the human spirit. He should use all things to enlarge the amount of such knowledge as is useful in the conduct of hu man life, and to deepen (he consciousness of duty. He should show Ma nse of ail great events fbr man's material business, and their meaning for his spiritual develo'pment; should | point out the eternal law, the providential purpose in transient affairs. He, too, should inform mankind of passiog events, and give I them a cast forward in the great journey of , human life; should translate the brute facts , of history into the ideas of philosophy, and : bring tbem to human consciousness, and I thereby teach men prudence for their mate rial business, wisdom for their spiritual con duct, and so help a large development of mind and conscience, heart and soul, in the community wherein the lines of his lot are cast, and which gives him bis daily bread. At the Rocky Mountains take hold of every cloud which the Pacific sends thither, and wring the water out of it to moisten their own soil, and fertilize Ihe valleys below, so to-dsy they would take bold of Ibis commer cial cloud which comes upfront the great Pacific ocean af American business, wring ite meaning not of it, learn its whence and whither, its use for their daily business, its lesion for their religious development. In speaking of this subject. Mr. Parker said he should have to speak of some thing not often spoken of on Sundays in the pulpit, but very often thought of in the pews. We are in a stale of great general prosper ity. There is no foreign war to waste the mind, body or estate of tbo people. There is no domestic war, except what the Slave Power it carrying on in Kansas, by the show of the baUot-box and the reality of concealed bayonets. There is no pestilence; births bear a large ration io the deaths, and emi gration enlarges onr number still more; there 1 is no famine—an abundant harvest is gather •d, or wails for the sickle ; we have no great foreign commercial"debt wbioh must be paid, •ad so will consume the harvest gathered from the soil, the mine and Ihe sea, or man ufactured thence. The imports of 1856 were 8360,000,600, but the exports were two mill ion* more, and if 869,000,000 thereof 1 were gold, it should be remembered this is as much • staple of American productive industry as coal is (o England, and so, if we manage sightly, it is no more loas for us to export our superfluous gold than it is for Sweden to ex port her superfluous iron, Brazil her hides, China her teas and silks. Take America as St whole, and the demand for labor is greater Iban the supply. This is shown at tbo South fey the constant iqctease in the price of slaves, and at the north by the continual increase ol wages, and our anxiety to make such ma eltieM as, in • short time and cheaply, shall do the work that else would require the cost ly teil of human hands to achieve. America OPUS never so rich at to-dap, in men, women Bed children, cultivated land, good roods, of earth, wood, (tone and iron, in ships, houses,! shops, factories, tools, lb* useful metals and minerals, and Be vet to well supplied with food, clothes, lunilure, carriages, school*, books, aud all manner of thing* for nse and beauty. Yet, ta sphe of ail this general abundance, there is a great crisis in th* money madcet; there is distress ui all commercial circles, fiom Maine to Louivisps. All ths depart mruts of commerce and buriness are ditinrb- BLOOMSBURG, COLUMBIA COUNTY, PA., WEDNESDAY, OCTOBER 21, 1857. ed. Motiey, which is commonly worth from six to eight'pet cent; a year, is now hard to get at 24 percent. Men pay a famine price for gold and silver.' Hoesea ol the first re spectability fail, or else suspend payment for a time, loaving Others to pay. ' Men ol hand some estates, even of great fortune, find that their property is all gooe. In pdible cities, i() whole States, banltß stlspend specie pay ments—violate their connects, solemnly made, and pay m promises to pay—not in certificates of property, but ferlifjrates of bebt. Mills shut down their ga.tes, and men are turned oat of dmploymeot'by the hottd red or thousand, with the proapeol of imme diate idleness, and remoife hunger. : - Money lenders, who are always dipping into the stream of commerce,and ladling out what thence they may, now refoee to -lend on ■any terms, on What tffi* orftte 'considered the best seruiity. Our own city's "promise to psy" fails to caramand the needed ooin.— What is the cause of this (rouble? He should very ill disoharge his duty as a philosophic thinker, and teacher of religion if be did not : try to point it out, was true, he was not a bu- j siness man, but for many years he has siud led the history of commerce, and, living among trnding men, he had had his eye open to whdt they did, thought, suffered and felt. He did not, however, pretend to speak with authority. Commonly, in bis teachings,he could say, "I know this is true." To-day he could only say, "I think this is true." To understand the present commercial trouble, and be prepared to make use of its consequences, it was necessary to look deep er than the surface at some things, which lie a great ways off and far down. All man's conscious activity was at first an experiment —an undertaking—of which the result is not known until after the trial. All experiment is liable lo mistake. There are many ways of doing a thing, but only one way of doing it best; and it is not likely that every indi vidual of the human race will hit the right way the first time trying. What succeeds we keep, ar.d it becomes a habit of mankind.— He took it. All the experiments ever made, however ruinous to the individual man, have to the human race been worth all they coat, and it was not possible for the human race i to have learned at a cheaper achonl than tbtt dear one which experience has taught. In the military period of man's history, war was the chief business. The great families were founded by "sons of thunder," and kept up by war. The great estalea were got by robbery; aristocracy was dyed blood-red.— New all this is passing away. The military period is giving place to the industrial. Ger many, France, and England, are the Euro pean leaders in this industrial civilization; but they keep the old tides—baron, duke, lord. Here we have an industrial democra ! cy. The dollar, not the sword, is the badge ' of aristocracy. Great families are founded ! by trade; great estates are got by buying and | selling ! and social rank commonly depends on money, ihe only beqneathable excellence. Nobody asks—"What aoceslors have you got in the grave?" but what money in your vault.' what horses, lands, stock ? Hence property is sought, not only for the comfort and luxu ry which it brings, but also for the social dis tinction it confers. It takes the place of all the virtues. It is in American society what "imputed righteousness" is in Ihe church— the social salvation of man. Titles are noth ing. No American Mr. Macaulay would oare to be made a baron, lord, or duke. Ev ery penny-a-lirer from Maine to Nicaragua would laugh at him. Money is here what title is in England—a patent of nobility. It can "ennoble fools, and aots, and cowards." So it is the only object of American desire. Ol course all men ate eager lo get it, and so rush into trade, the favorite bnsines of Amer ica. Business here is entirely free from old reßtraiots, political, ecclesiastical, social, and ■o there is a wide field for new commercial experiment. On the whole, onr American experiments of industrial democracy suc ceeds very well. The increase of property and of popnlation is enormous. In 1,500 years France only doubled her popnlation twice. Whet was five millions io the year of 150, under Ar.tonius Pins, was only twenty million* in 1610 under Lonis XIV., while in 60 year* America ha* doubled her population four tiroes, and what was three millions in 1790 was more than twenty-four millions in 1850. In tome States the growth seems fab ulous. fn 1830 Algiers became a Frenoh province, and the government sought to stimulate emigration thither, but in 1837 there were not 126,000 Europeans in Algiers, while in ten yetta Ihe state of Wisconsin has gone op from nothing to 900,000 men. The in crease of taxable property is quite as remark able. Fifty-seven years ago Massachusetts was only worth ninety satan millions of tax able property ; to-day the la worth more than tin times that amount, her annual earn ings being 8300,090,000. Onr experiment, then, has pretty successful. Thoughtful men, eager lo be rich, and leave distinction lb their children, boy up land* in advance of population, build rail roads, and in the old States, they seize the great river* and develop manufactures, per haps a little Caster thee tbe state of the na tion, in its preeMi pecuniary eaabarrasemenl, woo Id justify. Stiff mom, within fow yearn, mine* of geld have Men discovered in California and Australia, which have pro j daces result* net yet comprehended. It has affected the pritto of all things, and as no one knows what quantity of gold it lobe obtained nobody knows how high the prices will go, bnt vary sanguine men suppose they will flae a great ways above their present value, and to many buy for a future market. Hence comes that extravagance of speculation in grain, sugar, coal, and especially in land This, thf preacher said, he supposed was unavoidable—one of the incidents of our ami cess. . ( All this was very encouraging—it was a step forward and upward; but it was attend ed with certain great evils, which, collect ively, are the censes of the present distress. There is a great extravagance of expenditure. Perhaps no minister was less severe on the indulgence :n luxuries then he wal, because he saw the functions they performed ; and besides, he never saw a house too com fortable for men and women, or dresses too elegant, though he had seen a great many houses nod dresses too costly for the weater's means. Look at the general style ol dress among women—it* exceeding costlines*j not only among the rich, bnl everywhere, except among the very, poor, who would, but can not. The fault is not with the women, who bear all the blame, and are the butts alike for the satirist'*,wit and the minister'* dullness. 1 If men wished women to be clad in sack | cloth, it would be done before to-morrow | night: for though women has a greater love of decoration than man, it is far less than ber desire to please him. And, indeed, the very love of drees is with her more a love of pleas ing others than a feeling of self-satisfaction. Then comes the increased cost of ships, hou ses, shops, banks, offices, and the like, which renders the transaction of business more cost ly. Then there is 'he increased expense of city, town, and State governments, acd the foolish and wicked waste of municipal mon ey. Though the property of Massachusetts has increaasd tenfold within a few years, the ratio of taxation baa doubled, and in some case* trebled. Then there are the idlers. In the town of Somewhere livea Mr. Manygirls. He is a toilsome merchant, his wife a bard working housekeeper. Once they were poor, now they are ruinously rich. They have 7 daughters whom they train up in niter idle ness. They ars all do nothings. They spend much money, but not in wotks of humanity, not even in elegant accomplishments, in painting, dancing, music and the like, so paying in spiritual beauty what they lake in material means. They never read nor sing: | they are know-nothings, and only walk in vain show, as useless as a ghost, and as Ig norant as the block on which their bonnets were made. Now, these seven "ladies" (as the newspapers call the poor things, so in significant affd helpless), are not only idle, can earn nothing, but they consume much. What a load of finery on their shoulders, and gesdi, and necks. Mr. Manygul* bires many men and women to wait on hia danghters' idleness, and those servants are withdrawn from the productive wotk of the shop or the farm, and set to the unproductive work of nursing the seven great grown-up babies. On the other side of the way, Hon. Mr. Manyboys, has seven sons, who are the ex act match of tbo merchant's daughters—rich, idle, some of them dissolute—debauchery coming before their beard—all useless, earn ' ing nothing, spending much aud wasting more. Their only labor is to kill lime, and ; in rummer they emigrate from pocd to pond, from lake to lake, having a fishing line with a worm at one end and a fool at the other.— These are the first families in Somewhere. Their idleness is counted pleasure. Six of these sons will marry, and five, perhaps, of Mr. Manygirl'a daughters, and what families they will found, to live on the toil of their grandfatner's'bones, until a commercial cri sis, or the wear and tear of lime has dissi pated their fortune, they are forced, reluctant ly, to toil. Besides, (here is an enormous waste of food, fuel, clothing, of everything. We are Ihe least economical civilized people on the earth. Of course, the poor are wasteful everywhere. They do not know how to economize, and ! they have not the means. They must live ! from band to moalh, and half of what is put into Ihe hands perishes before it reaches the mouth. So likewise are the rich wasteful who have inherited money—almost never such as have earned it. The great mass of the people are not economical, but wasteful —ft is the habit of the whole country. The next cause is the rashness of experi ment, leading men to engage in enterprises not well planned, and wbioh turn oat ill; cost'much and come to little. Hence come attempte to develop new forms of industry, or old forms in new places; the building of railroads in sdvatiee of population, or in ad vance of business, and the great increase of shipping. Bat this is a failing that "leans to virtue's side." Then the spirit which prevails in onr trade is not a very honest ODe. He would not vay that we were worse thaa other nations; he was sure we were better, jnater, more honest than our fathers were 100 year* ago. The wealthiest merchant who did business in Ibis oily 50 year* ago, wonld not be tolera ted on 'Change a single day. Bnt look at the defalcations of men intrusted with publio funds—look t the great swindling* by offi cers of railrosds and banks—remember how lightly all these thing* are posted over, and bow very seldom a great thief gel* punished at all— remember that men fail in trade, leaving half a million of debt, and ooe-temh of a million lo discharge the debt—reroera bet bow tbe Paoifio Company pat 81,600,- 000 in gold of other men's properly, and 600 of their living bodies into a ship, with only eix boats, and no pnmp thai conld throw water—in e ship tbtt bad a reputation to bad that she conld not be kept afloat without changing her name, and making the Qtorge law tbe Central America —end then you see what a spirit there is In onr trade. Oor system of buying and selling ia a very i bad tbiogi It sncoategee extravagance by 1 pulling off pay-day; it makes the tranieotion Trutb aMI Bi*ht-~o4 oar COM try. of business mora expensive, by neceeeilating a great number of clerks; it gives opportune ty to temptation and frtod; it produces a gen eral unsoundness in trade, and to Increase the cost of every pound of bread we eat, every inch of cloth we Wear, every brick we pile into our walls, and every alale which roofs our houses. It seems to be cheap it turns out to be dear. Here is another cause—the great and con troling one. We make money out of what has no intrintio value—out of paper. All property is the product of labor. To distri bute from (be producer to the consumer, there must be trade. For that, there must be money, which is simply the instrument of trade—a labor-saving machine tq pro mote buying and selling. After much ex perimenting, mankind ha* taken gold and silver, and thereof made moTey,'the instru ment of trade, l£e medium oT commerce.— Gold and stiver are property,, and so repre sent the labor requisite to acqoite them; they are transferable properly, and, of course, subject to the laws of properly, Itiey rise and fall ill value, and no legislation can prevent that, any more than iron or tin; yet, com monly they fluctuate less than any other substance that could be chosen. They are condensed property. And not only a-e the) lite medium by which de\>ts are paid, but they are the standard measures of all value. Gold or silver made into coin has no more value than before. At the mint the Govern ment pnts a stamp upon it, which is simply a national certificate that it has acertain puri ty, or comes up to a certain weight. It is a certificate of value, not a creating of value. Now, in America, we . make fictitious money out of a piecf of jigper, which con tains somebody's promise lo pay a dollar, and this becomes an instrument of trade, by which debts are paid, and the standard meas ure of vtlee. Unlike the metallic dollar, the paper dolltt has no intiiosio worth—is not property, only the lawful representative of properly. We have chartered some twelve or thirteen hundred banks in the U. States to manufacture this substitute for metallic mon ey, on condition that when the paper is brought back, they shall pay a metallic dol lar for it. A bill, which is a promise lo pay, is taken in payment of debts, said to be as good as gold; a certificate of debt is taken instead of a certificate of property. As there is little demand for metallic money, that is carried ofi. Like all other merchandise, it brings the highest price where it is needed and used the most. It is-00l lo be denied lhatili*Mi niUjMieMymi si-e in this, especially attendinglarge transactions; but in using it in small sums, there if this great inconvenience. As paper oosts little labor, and. is yet taken for the representative of val ue, and so a certificate for labor done, it ia multiplied to a great extent. Then money ia cheap and price* go op. The farmer gets two dollars for his bushel of corn—that is, he gets the promise lo pay two metallic dol lars. Wages rise; the laborer gets more pa per money for his work, but his grain, cloth and coal also rise, and he gets no more val ue than before. Accordingly, as prices rise, it coots more to manufacture than before, and so we import the products of labor from abroad, where there ia little paper mouey i and prices are low. | As we 'eel rich, because money is plenty, and men say it is a* good at gold, we im port largely articles of cotwgt-Eml Hurury, and send abroad onr raw materials in pay ment, to be brought back' manufactured goods. But by and by the- raw material is not quite adequate to pay our foreign debts —for our paper money i* good for nothing abroad; our foreign goods, sold at paper prices, mnst be paid for in metallic money— and specie run* out of the country. Then the banks, not having the actual metallic money to pay, refuse to circulate their bill*; money becomes "short," "tight"—there is a pressure in the market. Money is worth more than before, goods are worth less. Merchants who have bought goods on cred it, nd sold Ibem on oredit, cannot meet their payments, and, accordingly, must sell their permanent property to rteet their pay ments, or else pay enormous rates of inter est—for money is merchandise, and when scarce, like bread in a bsslaged cjly, it goes up to famine prices. Slocks fall in valae ten, twenty, thirty, forty, even fifty per cetrt. Capitalists become distrustful, and refuse to loan at all. Trader* fail, and give up their permanent property lo their creditors: it is sold at a' red need value. Tbe trader lows half, bul Ibe creditor is only half paid. The inheritance of birth, tbe earning* af a long life are at one swept away. In bit old age, tbe thrifty merchant is left With nothing. Timid men withdraw their money from cir culation —It lies still, and an idle dollar is just as useless as tn idle spindle or an idle axe. Great enterprises stop. Men are thrown out of employment. Hunger looks through the window of a thousand homes, making agly months at wives and babes. We take great pains lo prevent thi* evii. We try legally to fix tbe value of this paper money we have created, and threaten topon ish every man who loans it at aeon iban six per cent. We might as wall say that water should nol run down bill. Wo have tried to make that money wbioh ia no money, wbieh presents no labor none, and we can not escape from tbo consequences of our first falw prir.oiple. Wo wonder that specie does not stay in th* land. It >* because we think papet money it just as good, end France and England do not It rain* gold, and we bold ont our dish bottom upwards—of conrae it , u empty. We complain that there is a lack ;of specie)!n our country. In the last twelve raontha we have exported mora than sixty- nice millions of gold from this very land.— Other Causes had their influence, but the main trouble, Mr. Parker said, at it aeemed tu him, came from ibis—that we trusted in paper money. The immediate conseqnence 1 of this state of thinga is very painful. Some men lose their estates; a few great ptoper ties are scattered tt once; many little compe-1 tences come to nothing. Sometimes this happens to the beat men in the country— men with liberal ideas, with habits of gener osity. You all know what ha* recently be fallen one of the most honorable, generou* and Christian men in this town, who, as a thriving merchant said, has done more for the rising generation of Boston than any ten churches that could be named. You all de plore the misfortune of this noble philanthro pist. Now and then a chance shot strikes a coward in his lent, bnt commonly it is the brave soldiers who get shot in batile. There is a "forlorn hope" in tbo battle of produc tive industry not lets than Ihe battle of war, and he (Mr. P.) looked on the honest mer chant who turned out bankrupt, as he looked on the wounded soldier, covered all over with honorable scars, got in front, manfully confronting the foe. He has suffered, but it was in the cause of God and bis country.— Just now, we are in a Balaklava battle, and somebody has blundered. Let us do honor to the "six hundred," remembering how they "rode onward," meaning right. In conclusion, Mr. Parker set lorth the du ties devolving upon honorable and Christian men, in this lime of tronble and distress.— He counseled forbearance towarde solvent debtors as long as possible; the payment of small debts to tradesmen and artisans; the avoidance of all waste of articles of food or clothing, for we btd a htrd Winter before ns, and should want all we have gob Yet he did not think it manly or Christian to make large retrenchments in these times, when a man could afford bis previous expenditures, for by so doing, he simply shifted the burden to another man's back. Charity should be remembered, for he thought much of that would be needed before the Winter was half through. They should be humanly gener* ous to such as fall through mistake, humanly just against defraudera, swindlers, cheats, of whatever name; charitable to the follies of the weak, ihe errors of the wise, but stern against the culprit's meditated wickedness and concealed crime. The remoter duties were to reform the whole monetary system, make gold and sil ver the medium of business, and depart from the habit of baying <l wUfitg on credit to io great an extent. When the potato rots in the ground, it tells us it is nol fit lo be a na tion's bread. It is the voice of God crying ont of the ground—"Beware! beware !" Cholera, yellow fever, typhoid, the plague, leprosy, they also have a warning, telling n* what will follow if we violate the conditions of life and health. They also, though our brother's blood, are God's voice, crying— "Beware ! beware ! The spot whereon you stand ia unholy ground. Make clean vonr | cities, breathe pure air. Turn ye, for why will ye die?" And when a commercial dis . tress like this occnrs in a nation full of plen i ty, and wealth and industry, and wisdom, surely it tells us that we have made a mis lake ; that the experiment does not succeed; that paper money ia a tool that does not wotk well; that extravagant expenditure, ! waste, the importation of luxuries, dishon esty in trade, are not wise. Betides, have wo not made a mistake, which lie* deeper, nearer, likewise, lo the business of the pulpit? Have we not thonght a little too much of property, fine bouses, gaudy steamboats, New York hotels, costly silks? It is not worth while lo bold Ihe rai ment above the body, and the meat more than the soul which should consume it. The millionaire is nol the highest product of hu man civilization. A rich man, s rich city, does not necessarily possess all the Christian virtues. "Money answerelh all things," says the Bible proverb; bnt it cannot answer for houesiy, it will never do for virtue, it can not lake the place of confidence in Thy high er law, thou Father of earth and heaven!— Is our trade condnoted on fair, just principles? Does the Golden Rule lie on the merchant's desk, measuring ou* between man and man the rule of the market? Have we not for gotten God's higher law? Certainly, we over-rate wealth 10-day, just ss our fathers thought too much of fighting. The great end of buBineai is not the accumulation of property, but the formation of character.— "He heapeth up riches, and knowetb not who shall gather them," says the Psalmist; but great virtue*, prudence, wisdom, justice, benevolence, piety, these may be gathered from yonr trade; they are not oneerlain riches bnt imperishable, undefiled, and which fade not away. "In lite day of adversity consider." Amer ica will learn ber letsou from ibis commer cial distress, this scarcity of money, lack of work, temporary hunger, transient fear. Let us be tbaokful that our teacher comes with such a mild face. If we do cot learn by Ibic, then Ihe lesion is to be tanght us, not only with mercantile failure, bnt with tbe thnnder of ctnnon. When God apoke to England through the jingling dollars she did not heed Him, bat ihe heart when he speaks throogh the Crimean cannon, and 150,000,000 of men in rebellion on the other aide of Ihe world. Bnt we will learn, and then shall the light break forth ont of the darkness, and the solid blessings of prosperity thai! attend a thought ful, industrious, forecasting people, who re member the inevitable law of jumioe which God has written on every metallio dollar, on eveiy paper promise to pay, as he has writ ten it on these fair flowers of the field.— Then, not putting our trust in uncertain rioh t, we shall count it the great end of life so to do the duties of time ss to secure the re ward* of eternity; and for each of o* there shall be a treasure "imperishable, undefiled, and which fadetb not away." PENNSYLVANIA LEGISLATURE. A Relief BiU Reported in Ike House—Passage of a Sill in Ike Senate. HARRIBBURG, October 9, 1857. SENATE.— The Senate met at nine o'clock. Mr. Wright presented a resolution, provid ing for the printing of 2000 copies of the an nual report of the Auditor General's 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 a law giving relief Jo 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 la ken up on third reading. Mr. Straub moved to go into Committee of the Whole, for the purpose of striking out tho eutire bill, and inserting one of three sections, submitted by him as asubstitute. The first section provides for a suspension of specie payments till Ist February, 1858, 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 47th section of the act of April 16,1850. . The motion prevailed ar.d was discussed at length by Meters. Straub, Killinger, Taggart, Welsh, Wilkins, Finney, Browo, Gazzam, Wright and others. The substitute was amended by substitu ting the fir ft section of the biP passed on sec ond reading last night, but extending the lime for resumption to (be second Monday of Aptil, 1858. Section 4th of the bill passed last night, re quiring the deposits of Ihe Slate to be paid in specie, was also adopted as a part of the bill. Some other unimportant amendments were adopted, atgl the bill was passed finally by a vote of 19 yeas to 12 nays. Adjourned till 10-motrow, at 10 o'clock, .A. L . _ I _ . | HOUSE. —The House met at 9 o'clock. A motion was made to pnrchase 1000 vol umes o( the Slate Agricultural Report. Neg atived—yeas 9, nays 69. The Special Committee of thirteen, which was appointed to consider the various suggestions contained in the Governor's Mes sage, reported a biil, and were discharged from the consideration of the other bills be fore the Committed. The act, as reported, is entitled a Bill for Ihe relief of Bank* and their Debtors. It re moves the jienalties incurred by the Banks and Savings Funds fora suspension of specie payment, until the Ist of March, 1858; per mits Banks to discount and still pay oat their own notes; bnt sixty days after the Ist of March, 1858, lliey most pay their deposils; requires that Ihe Banks of the Common wealth shall not declare dividend* of more than 6 per cent. The Banks of Pillsbnrg and Philadelphia sbtll publish weekly etttements similar lo those now made by the Banks of New York. All Banks shall receive the notes of other Banks solvent on the 21st of September last. It the President of any Bank makes oath that any Bank is unworthy of oredit, three com missioners shall be appointed by the Gover nor to examine into the condition of the Bank so complained of; and in case ol Ihe Bank refusing the means for a proper examination by the committee so appointed, it thereby forfeits its charter. But any Bunk resuming specie payments before the Ist of March shall not to forfeit its charter, notwithstanding the verdict of the Commissioners. The Act further provides: That all Revenue | Collectors shall receive notes of all solvent > bank*. All banks during suspension must pay cash for notes received by tbe State for tolls and ttxes. On all judgments hereafter obtained, execution shall slay six months longer than now allowed by-law. In cases where Ibe party has freehold, no other secu rity is necessary; where be has not bail may be entered. A stay of execution, however, shall not be gtanted for wages or labor. Tbe Direclors of the different banks must accept the bill within thirty days after its passage, and certify their acceptance to the Governor. And the Banke shall pay one-half per cent into the Slate Treasury before the first of January, 1858, for ihe privileges granted them. The above are the principle outline* of the Act. Meters. Thoru, Yearsley, Bishop, Ramsey, Innet, and Gelz presented petitions taking re lief. Tbe ptthirions were from the Board of Trade Association, citizens of Philadel phia, and the citizens of Northampton coun ty. Tbe Speaker presented tbo proceeding* of the meeting held at Harriabnrg last evening- Tbe reeointiona were read. Mr. Thorn presented tbe resolutions adopt: ed by the meeting of merchants and manu faotorere of Philadelphia, at tbe meeting in Independence Square, yesterday afternoon, wbioh were read. The bill reported by the special eommiitee of thirteen was ordered to be printed. Adjourned lid 3 o'clock, P. M. [Two Dilltn per AaiM. NUMBER 41- Afternoon Strtion. —The float# ; resumed the consideration of thejbill reported by ibe special committee of thirleea. Mr. Ksoffmtn moved to extend the time for the resumption from March. Ist to April let. Lost. Mr. Gildea moved to|decreeee the lime by fixing it on the let of January. Lost. Mr. Eyster moved to emend, by requiring tbat the weekly atateraenie be published 111 tne newspapers having the largest simula tion in the county, Canied. Mr. Johns moved to out down the salary of the Commissioners to examine the ac counts of discredited *feanks,. from flO to $6 per diem. Carried. Mr. Nioholaon moved tbat all banks reoeive I the notea of all oibevMsolveot banks in tba Commonwealth, not oqrtfednring tba suspen sion, but for all MlMtlHr darned. Mr. line giving tto dis credit. it ep as to requite the 'With- Mr. Thorn words ir. the 4th each not banks." Thorno words months," Lost. Mr, Calhoon end of rhe 6th section stay of ex ecution has under ex isting laws or warrants of attorney, or has been received or regmMM.by the parlies." Mr. Eyster offered as a lufther amendment, "where the time Of tke'tiiay of execution baa j already expiredv" -+ —• ! Mr. Calhoun's amendment was adopted, but Mr. Eysler's was nagatiVed. Mr. Kauffman moved to strike onl "one half of one per cent." and msert 'one fontlh/ in the 7ib section. Lost.* Mr. Struthers moved tbUAe Bank Direc tors be empowered to scon^Asprovisions of the bill. Witbdiawm j?.- Mr. Mumma rao<WimmdK4> to aection Bth, providing that dHMF now fending shall be effected by infect. Carried. Mr. Strnthers aection, revis ing the act of 184t, pjHeing that property exposed at public aale dßm bring two thirds of it* value. Lost. Mr. Vickere moved a new section, provi ding that on and after the lat day of Novem ber next all banks tbat shall not psy specie for theirfivadollar to pey 10 pet cent. dPtheir checflßHpbies of suefc banks as do pay specie on five dollar notes, ■ball forfeit their charter*. Lost. Mr. Yearslsy submitted a new section, prohibiting banks from suing tbair debtors, whether drawer, endorser, or aoceptsr. Also, from selling sny collateral, deposited at es curity/.during the suspension of tba bank.— Lost. Mr. Abrams submitted a new section, di recting all banks, tfter tbMbasaage of the ao!, to pay their notes of Lost. Mr. Johns moved a new aection, thai from the Ist of January, 1858, no bank shall issue notes of a less denomination than twenty dollars; and that all notes less than twenty dollars mint be redeemed from and after the Ist of January, 1859. Lost. The bill having gone through the Com mittee of the Whole, the House then pro ceeded to oonsider U an a second reading. Mr. Tborne moved to extend the lime of suspension to the Ist of July, 1858, and made a strong speech in favor of his amendment. Without taking any action upon it, the Hons* adjourned till to-moirow. HABRISBCRG, October 10, 1857. SXNATS.— Mr. Laubacb presented a petition from Carbon oounty, for the relief of the Banks and the people. Mr. Browne called up the resolutions of fered by him, relative to the control and re straint, by Congress, of the circulation af pa per money. Mr. Cofley offered as a substitute, a reso lution declaring tbat, in the opinion of this Legislature, tba present financial embarrass ments were occasioned by the tariff of 1848, and the modifications mads by tbe last ses sion of Congress. A political discussion ensued. The whole subject was finally postponed, and the Sen ate adjonrnod until in tbe afternoon. On meeting again, nothing of interest we done. The Senate adjourned in a short time until Monday. House.—A resolution providing for the printing of the Board of Revenue Commis sioners was passed. Tbe bill to provide for Ihe payment of members and officers of the Legislatoe daring the present session, was presented by Mr. Foster, and passed. Tbe Bank bill was then taken np on ss ond reading. Mr. Johnson movsd to shortsn the time for resumption from the second Tuesday in April to tbe third Menday in January, 1858. Mr. Kauffman moved a farther amend ment, lengthening the lime to January, 1859. A lengthy discussion ensued. Messrs. Mumma, Kauffman and Eyt*r favorsd the amendment, and Mesara. Cslhouo and Loog aker opposed il. Kauffman's amendment was finally nega tived—yeas 25, nays 69. The Philadelphia delegation voted as fel lows: AYES—Messsrt. Bishop, Doek and Thorn. N*vs—Messrs. Artbor, Carier, Glides, Hancock, Knight, Leisenring, Mcllvein, Ramsey, Roberts, Waher, Wbertoo, Years lay. Of the members voting yes 24 are Ameri cans and Republicans and 1 Democrat The