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The Senate to-day plassed me - first, however, amended it in several particulars, some of them important. Among its amendments was a substitute for the 4th section, which, retaining the lst day of November as the period of resumption, strikes out that feature which requires the Banks to resume within sixty days after the principal Banks of Philadelphia and Baltimore shall recommence specie payments. I regard this as a very salutary change, in view of the peculiar circumstances by which the Banks of those States have been induced to open their vaults. In both, the apprehe usion of P pular tunulis, growing out of the peculiar character of a portion of their population, al ways inflammable, and easily excited to deeds of V10 lence, was the primary and influential cause of resumption at so early a day. I infer this from the fact, that, prior to the exhibition of any sympton of mobocratic up ro. r. the Philadelphia Banks had clearly indicated that a should be upon, nd of der c. reumstances sooner 14 of August. more than re. no note the day Maryland would generally fixed The it Legislature be had safe while declared to resume those of the that of Balti- latter unState. too, it is not improbable, was itself precipitated into the adoption of the law which ultimately passed, by the cm, hatic processadopted by the mob of Baltimore to make "nown its wishes- 200 of their number. under the imposi. T name of committee of the people, having visited lis Learing the high behests of their and ached the Legislative hall in martial procession, with ers front to to their injune a constituency, give emphasis appl ions. and music Such in their proceeding indicated a distempered condition " mind, which it was not safe to disreg be probably of rd, the od but public itself by which to no legislative body ought to have permit. overawes. It finds a parallel and precedent only in the history of the "rench Revolution, when bodies if sans culottes and cut-thic is invaded the halls of the Natu al Assembly, to dietate law. to the mock Republic, and to drag from the tribune to the gu. Hotine such of its members as had nerve enough to defy the 16. ~rorists. A resump tion brought about by such means may be permanent, but it is hardly probable that it will be: but Is these who entertain this impression should be deceived, and these institutions shall show their ability to maintain spec. payments, I have no doubt the Banks of Virginia will voluntarity place themselves in the same attitude, before the 1st of November. The Senate also struck out that section of the bill, as it went from the House, authorizing the appointment of a Commissioner, to examine in to the condition of the Banks of this State; and (I be lieve) that also prohibiting the sale of drafts and bills of exchange. I cannot predict with certainty the fate of these amendments in the House, though, from the pro racted period of the session, and the universal anxiety to bring it to close, I think it probable they will be as sented to. Another cause may operate to the same endand that is, the certainty that some of the members, who have been in favor of the most vigorous measures against he Banks, have run rather ahead of their constituents, w tho, more conside rate if not more wise than their delegates, perceive that every blow aimed at those institu tions, the interests of which are inseparably intertwined with those of the people at large, must fall with accu mulated force upon their own heads. See, for example, the proceedings of the people of Buckingham, at which , leading Democrat was Chairman, another one of the Secretaries, and a third (George Booker, Esq.) whose rabid antipathy to Banks has been for years proverbial in all Buckingham and the region round about, was the chief orator-in which it is recommended that an assu rance shall be given by the Legislature to the Banks that they shall not be required to resume before the 1st of February, 1844! And yet one of the delegates from that county voted for immediate resumption, and the other for the earliest named day. Others, I have no doubt, have equally misunderstood the clamors of a few demagogues and shavers for the voice of the people, who, whatever be their conviction that the Bank ing has been grossly abused and system may favor and of perverted. overthrowing requires to be reformed, are not in t suddenly, and by the same process of involving every class and every profession in society in indiscriminate ruin. If the Banks were hostile, or even a separate and distinct interest, which might be but others in their be involving downfall, they reached retribution might with visited with the rnest detheir the manded perhaps properly by alleged delinquencis-but crushing when the edifice cannot be destroyed without the builders, they will wisely pause before they begin to sap its foundations. there can be no doubt that the Baltimore Banks will in compliance law, While attempt resumption, with hope they the and perhaps maintain it,--as I sincerely may e able to do,-I have no faith in the capacity of those if Philadelphia to do likewise. The hesitancy which as marked their coursethusfar, shows, that if they even make the attempt, it will be with fear and trembling as o the result. And well may they be thus apprehensive, when, in anticipation, runs have been commenced upon some of them, indicating a feverish agitation of the public mind, especially unfavorable to the success of their efforts. The Bank of Penntownship closed its loors the 15th, and on the 17th. the Manufacturers' and Mechanics' Bank, after having sustained a run unil 12o'clock, followed suit. The Mechanics' Bank, hol- and he were also besieged by Moyamensing but demands. their notelers, were strong enough to meet all The with one or wo exceptions, have resolved to with the law-with reforthwith other Banks, comply what effect nains yet to be developed. The Tax Bill was to-day ordered to be engrossed by he House of Delegates, and will be passed and sent to he Senate on Monday morning. The rates re same as those of last year, except the that of of the taxation vender license of broker is raised from 2 to $300, and that a of tiekets from 500 to viz: several new subjects of domesticlottery a however, $1000. taxation. There old re, one dollar. and silver and of watches 25 piano fortes, of $100 value in watches, cents; other $1, metallic used and 200 value and upwards, $2, except such as are a seminaries. or by music teachers. Silver plate, over Bank ain value, 19 like KC subject to taxation
