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Another Experiment Failed!-The Farmers' and Mechanics' Bank of Georgetown, which only a few days agoannounced its intention to continue redeeming its notes in specie, whilst it had a dollar of coin in its vaults, on Monday last suspended specie payments! The Bank, it is said, made a formal request of the Secretary of the Treasury for a portion of the public deposites, payable in gold and silver, and received for reply that the governmenthad none! (Hagerstown Torehlight.
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o'clock, adjourned CHARTER OF WASHINGTON CITY. The new charter which Mr NORVELL, and a few others of similar calibre, designed in their wisdom to present to the good citizens of Washington fell through in the Senate in the most ridiculous manner. The proceedings strikingly illustrate the indecent haste with which Federal Loco-focoism rushes on to the accomplishment of any favorite object, in spite of all remonstrances and appeals from the People, on whom the measure was to operate. The result is full of warning to presumptuous young legislators, and we trust i will impress upon the mind of Mr. Norvell the great truth-' the race is not to the swift"-and induce him hereafter to check his precipitancy The bill to alter and continue the charter of the city of Washington having been read a third timeMr. NORVELL remarked that a portion of the bill had been accidentally omitted, and he desired that it might be supplied. The CHAIR It can be done only by unanimous consent. Mr. MERRICK would not object, but he proceeded to remark on the great haste with which this bill had been pressed forward, in spite of the earnest remonstrances of himself, Mr. Davis, and others. After the bill was in this manner ordered to be engrossed, it was found that there was an extraordinary omission of a portion of the bill. Mr. M. made these remark simply for the purpose of showing, a fortiori, that it so great and palpable an omission could get through the Senate in its hurry of proceeding, how much more might wrong, important, and intricate provisions thus get through without due consideration, even if they were discovered at all. Mr. NORVELL made some self-exculpatory remarks, to which Mr. MERRICK disclaimed all design of giving any occesion. Mr. CLAY, of Alabama, remarked that there was evidently not time to perfect the bill, and he desired it, therefore, to be laid on the table. Mr. DAVIS remarked on the unusual manner in which this omentousmeasure had been forced through the Senate. He would now say nothing of the character of the bill itself. But, in addition, as the Senator from Alabama thought there was no time to mature the bill, Mr. D. would object to its receiving any amendment. Mr. CLAY, of Alabama, gave notice that he would move in this matter at the earliest period of the next session, and moved to lay the bill on the table, which was done without dissent. PROCEEDINGS IN RELATION TO THE DISTRICT BANKS. On Friday Mr. MERRICK presented to the Senate the memorial of Messrs. Kurtz, Van Ness, and Bradley, presidents of the Metropolis and Patriotic Banks, and the Farmers' and Mechanics' Bank of Georgetown, praying the continuance of their banking powers, and that of other banks, on the condition of their resuming and continuing specie payments, and concluding with the form of a joint resolution, which, if passed by Congress, would be acceptable to them. This memorial in spite of the ultra. radical Locofocos, headed by Allen and Tappan, was referred to the Committee on the District of Columbia; and the same evening Mr. Merrick reported back a resolution continuing the charters of the District Banks until the 4th of March next, on condition of their paying specie On Saturday evening Mr. MERRICK moved to take up this resolution for a secong reading. The motion prevailed and the bill was read a second time, and, after a long and animated debate, the question was taken on ordering the joint resolution to a third reading, and decided in the affirmative Yeas 21, nays 12, as follows YEAS-Messrs. Anderson, Clay, of Ala, Critten den, Davis, Dixon, Fulton, Grundy, Henderson, King, Merrick, Phelps, Porter, Preston, Ruggles Smith, of Ia., Southard, Strange, Sturgeon, Tall madge, White, Young-21. NAYS-Messra Allen, Benton, Calhoun, Hub I bard, Linn, Lumpkin, Norvell, Pierce, Tappan, Wal ker, Wall, Wright-12. Yesterday, the joint resolution came up for its third reading, after which the question was propounded on its final passage. Demagogue Allen, of Ohio, instantly rose, and moved to recommit it, with instructions to substitute for it the pestiferous bill which a majority of the Senate had rejected last week. This motion was lost ayes 13, nays 23. Allen then made another motion for to the purpose of defeating the resolution. He moved recommit the bill again, with instructions to add a pro vision making the stockholders liable for all the debts and obligations of the banks to the full extent of their stock. This motion was lost also, yeas 14, nays 23 The resolution was then PASSED, yeas 24, naya 13 Allen then moved to put a title to the joint resolution, for the purpose of throwing discredit upon it This contemptuously voted down. n motion of Mr. Merrick, the joint rule was suspended, so as to allow this resolution to be sent to the House forthwith Allen then moved for the printing of the memorial of the Presidents of the Bank of Metropolis, of the Patriotic Bank, and the Farmers' and Mechanics Bank of Georgetown. He said he wanted to show that these bank officers had dictated this joint resolution to the Senate of the United States. The course of this person disgusted some of his own party friends, Mr. Clay, of Alabama rebuked his overbearing insolencetwo or three times. The memorial of the bank officers was printed.
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CHAP. 12.-AN ACT to revive and extend the charters of certain banks in the District of Columbia. SEC. 1. Beit enacted by the Senate and House of Representatives of the United States of America 116 Congress assembled, That the charters of the Bank of the Metropolis, of the Bank of Washington, and of the Patriotic Bank of Washington, in the city of Washington; the charter of the Farmers and Mechanics' Bank of Georgetown, in Geogetown; and the charters of the Farmers' Bank of Alexandria, and of the Bank of Potomac, in the town of Alexandria, be, and the same are, severally and respectively hereby revived: and all the powers, rights, privileges, immunities, limitations, prohibitions, and restri tions contained in said charters are hereby renewed, extended, and made applicabie in full force to each of said banks, respectively, and to the presidents, directors, other officers, and stockholders of each of them, in the same manner, and to the same extent, as was granted and provided by the said several and respective charters, and the laws in force on the first day of January, in the year eighteen hundred and thirty-eight, subject to the limitations and provisions hereinafter contained: Provided, Said banks shall, each for itself, from and after the passage of this act, resume and continue the payment of all its notes and specie liabilities in specie, on demand; and each and every of said banks failing to resume specie payments, as aforesaid, within ten days after the passage of this act, or having resumed specie payments, again suspending or refusing to pay any of its notes or other specie liabilities in specie, when legally demanded, or shall pay out or lend out, after the first day of March next, the notes of any suspended bank, or any paper currency whatever which is not equivalent to gold and silver, shall, in the first case, be excluded from all participation in the privileges and provisions of this act: and, in the second case, shall, ipso facto, forfeit all benefit and privilege granted by it; and it shall be the duty of the district attorney of the United States for the District of Columbia, upon information lodged with him of any such suspension or refusal to pay in specio by any of said banks, to take forthwith the necessary and proper legal steps to enforce the forfeiture hereby provided for such refusal or suspension, and to compel every suchdelinquent bank to proceed to wind up its concerns, un der, and agreeable to, the provisions of the act of Congress entitled "An act to continue the corporate existence of certain banks in the District of Columbia, for certain purposes," approved the third day of July, in the year eighteen hundred and forty. SEC. 2. And be it further enacted, That each and every of said banks shall be, and they are hereby, expressly prohibited from making any new loan or loans whatever, upon a pledge of stock in said bank as security for the repayment of said loan; and they are hereby required, upon all loans now existing upon any such pledge of stock, to require and exact, before any renewal or extension of any such stock loan shall be granted, other sufficient security for the same, in the form, and to the extent usual in said banks upon making ordinary loans. And the president and directors of each of said banks are hereby made individually liable to all persons concerned, for the whole amount of any loan or loans hereatter made or renewed contrary to the aforegoing provisions by them. or any of them. or with their consent, from the funds of any of said banks: and the cashier of each of said banks shall keep a regular record of the attendance ot the president and each director at every meeting of the board of directors of the bank of which he is cashier: and every president and director who shall be present at any meeting at which any loan upon a pledge of stock, as aforesaid, shall be made or extended, shall be deemed to have consented to the same. unless he shall at that meeting enter his protest, in writing, against said loan on the minutes of their proceedings. SEC. 3. And be it further enacted, That in each and every of said banks, all loans now existing to any president, cashier, director, or other officer, either as principal or security, to a greater amount than ten thousand dollars, shall be regularly curtailed or reduced. at the rate of at least twenty-five per cent. or one-fourth of the whole amount, annually in a due proportion to each renewal at the expiration of ninety days successively, until the sum of such loan shall, in no instance, exceed the amount of ten thousand dollars foresaid. And no new loan or loans shall hereafter, on any pretence whatever, be made to any president, cashier, director, or other officer, either as principal or security, to a greater amount in the whole including the unpaid
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(Uorrespondence of the American Republican.] WASHINGTON, March 14, 1845. The illumination at Georgetown last night to celebrate the passage of the Canal Bill by the Legislature of Maryland proved to be a very brilliant affair. So heartily did the citizens of Georgetown respond to the recommendation of their new Mayor, (Henry Addison, Esq.) that the illumination, although made at very short notice, could hardly be considered partial. It was certainly general in the two principal business streets, Bridge-st. and Highst. In addition to the illumination, discharges of cannon and rockets were heard during the whole of the night; and the citizens of Georgetown turned out in such numbers as to make the streets quite gay and lively until midnight. I am informed that there was also great rejoicing at Alexandria when the news reached that port of the passage of the Canal Bill-so conducive to the general commerce and prosperity of that town is the completion of the Chesapeake and Ohio Canal considered by the citizens of Alexandria. I am informed that the Farmers and Mechanics' Bank of Georgetown has again resumed operations by means of a Board of Trustees, John Kurtz, Esq. being the President of that Board. The Criminal Court has been crowded today by a great number of citizens who were anxious to hear the trials of Thomas Tanner, Jr., and John B. Frizzell, the first being charged with three robberies on the night of the 16th ult., the last as receiver of the goods stolen by Frizzell. The trial of Tanner commenced about 12, and continued until nearly 5 o'clock, when the Court adjourned. The trial will be resumed to-morrow. The case will be argued before the Court and Jury. Mr. Hoban is counsel for the prisoner. Frizzell's trial will follow that of Tanner. Previous to the trial of Tanner, a free colored man named Thomas (well known to the police and the officers of the Criminal Court as an old offender,) was tried for burglariously entering the house of Christian Klopfer and stealing therefrom shoes and boots of the value of $20 and upwards. The prisoner was found guilty. He was defended by C. S. Wallack, METROPOLIS. Esq.