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Newark.
[Correspondence of the Herald.]
NEWARK, Ohio, Feb. 28, 1842.
# Great Temperance Jubilee-Passage of the General Bankrupt Law in the Ohio Legislature-A Rattling Among the Dry Bones of Certain Banks-Three Candidates for Governor in the Field-The Banks Ahead of the Resumption Bill-Operation of the Bankrupt Law. &c.
Since my letter of February 14, the friends of temperance in the county of Licking, of which this city is the seat of justice, celebrated the success they have met with in the excellent cause in which they are engaged, by one of the most enthusiastic jubilees I ever beheld. The immense number of persons congregated in Newark on that occasion, was marshaled in a procession, almost interminable, by Brigadier General Wilson and Bishop Pier; and, after marching around our principal square, and through several streets, that portion of the multitude able to procure admission into the spacious church occupied by the First Presbyterian Society, listened to several spirit stirring addresses, on the subject which had called the people together. A great county Washington Temperance Society was formed, and the Hon. Geo. M. Young, the Mayor of our city, was elected its president. The number of members of the five different temperance societies in Newark was stated to be 1,820. The greatest enthusiasm prevailed among those present, and all went away satisfied that the glorious cause was going on "Conquering and to conquer."
The bill to regulate banking in Ohio has passed both branches of the Legislature. It applies a host of new restrictions, and guards to all banking institutions to be hereafter incorporated, and if none should happen to be incorporated will not produce the slightest effect. There is no probability of any being incorporated during the present session.
Bills have passed the House of Representatives repealing the charters of the Farmers' and Mechanics' Bank of Cincinnati, the Farmers', Mechanics' and Manufacturers' Bank of Chillicothe, the Bank of New Lisbon, and the Ohio Insurance Company. The object of passing these bills is, I suppose, to prevent the revival of these defunct institutions, and to demonstrate the power vested in the legislature to repeal charters of this kind-the majority contending that they are not contracts. A bi'l is also before the House to repeal the charter of the Mechanics' Saving Institute of Columbus, an institution now in operation.
His excellency Governor Corwin has at length yielded to the solicitations of his friends, to become again a candidate for governor; and he was accordingly nominated by acclamation at the Whig State Convention, on the 22nd instant. We have therefore three candidates in the field, his excellency Governor Corwin, ex-Governor Shannon, and the Hon. Leicester King, (abolition;) and if the Tyler men, who hold their State Convention on the 13th of April, should not conclude to vote for Corwin, we may have a fourth.
There are reports in town that the Commercial Bank of Scioto and the Bank of Sandusky have made assignments. The gentlemen to whom the Lancaster Bank assigned its effects are Gen. Samuel F. Maccracken, George Ring, and H H Hunter, Esqs. Nearly all the banks of this State, now in operation, will be enabled to resume under the new Resumption Bill on the 4th of March-the insolvent banks having either failed or assigned their effects. It is to be hoped that after the 4th of March we may obtain a currency worthy of the name.
Messrs. Latham and Hubbard, Bank Commissioners, are in Cleveland examining the condition of the banks in that city, which recently failed.
The Ohio Legislature has passed a resolution to adjourn on the 7th of March.
There have been no claimants of the benefit of the Bankrupt Act in this immediate vicinity. I observe, however, that four persons in Cleveland, three in Columbus, one in Steubenville, and one in Clarke county have made application. I have ho doubt that the number of bankrupts in Ohio is exceedingly small.
My letter to you of February 14, on the subject of Animal Magnetism, &c., I observe is published in the Newark Advocate of Febuary 26.
L. OCCIDENTE.
