$1,581,988 62 "21st March, 1831, 11,445 58 "30th March, 1831, 1,145 65 Interest on temporary loan, per act of 12th Interest on temporary loan in anticipation of 1827, March, 1828, H December, 1828, 66 April, 1829, "December, 1829, March, 1830, PAYMENTS. Treasurer of the board of canal commis- Balance on hand on 1st December, 1831, 26,276 10 $2,223,264 72 $378,746 89 125,000 00 The commissioners have prepared an estimate of the The transactions in the fund immediately connected with the payment of interest on the several canal loans, will appear by the following: On the 1st February, 1831, a balance of $6,106 57 remained in the fund applicable to the payment of interest, to which was added by transfers from the state treasury, agreeably to the several acts regulating the internal improvement fund, in the month of May, $42,000, and in July $209,078 76, making an aggregate of of $257,185 33. Out of this sum, however, had been paid $3,507 51, interest on temporary loans, and $4,850 19, salary of toll collectors, and lock keepers, under a resolution of the legislature of 8th January, 1830, and an act of assembly, entitled "An act direct-Balance in state treasury on 1st Dec. 1831, $80,005 86 ing the Auditor General to settle the accounts of certain collectors of toll and lock keepers on the Pennsylvania canal," approved 30th March, 1831, which left only a balance of $248,827 63 for the payment of interest due on 1st August, 1831. The interest payable on that day at the Bank of Pennsylvania, amounted to $275,103 73. The deficiency of $26,276 10 was supplied out of the loan per act of 21st March, 1831, agree. ably to the provisions of the 2d section of the act of 30th March, 1831. Other transfers and disbursements have been made since the 1st August last, which left a balance in fund on the 1st instant, amounting to $94,354 78, as appears from the following general statement of receipts and payments: Add probable excess of revenue over ex- 7,500 00 1827, 25,000 00 50,000 00 276,816 45 21st March, 1831,estim'd. 37,500 00 To meet this payment, 6,485 10 $306,547 60 94,354 78 ry, including revenue 26,276 10 -265,308 73 Balance in fund on 1st February, 1831, 6,106 57 $378,746 89 Amount taken out of the treasury as above, 170,953 95 105,862 50 45,862 50 PHILADELPHIA, Jan. 7th, 1832. SIR-The undersigned, executors of the last will of Stephen Girard, late of this city, deceased, respectfully present to you a copy of that instrument, for the infor mation of "the Mayor, Aldermen and citizens of Phila delphia." As the city of Philadelphia is entitled to receive the rents, which became payable, after the decease of the 60,000 00 testator, from that part of his real estate, which passed to the city under his will, the undersigned at present furnish a statement, shewing first, certain real estate in the city and liberties of Philadelphia, which passed to the city, under the will, for which rent has become due since the decease of the testator, secondly, the names of the tenants, and lastly the amount of rent due by those tenants respectively. In future communications, the undersigned will present such further information, as it may be their duty to make known, in order that the intentions of the testator may be faithfully carried into execution. -177,494 85 Interest on canal loans, payable on 1st Au 237,494 85 171,632 35 171,632 35 Deduct interest payable at the treasury as Estimated balance in the treasury, on 1st 65,862 50 Mr. DUANE offered the following resolution, which which was adopted by both Councils; and Messrs. Duane, 45,862 50 Lippincott, Massey, Petit and Scott, of the Select Council, and Wetherill, Okie, Sullivan, Moss and Page, of the Common Council, were appointed the Commit. tee. 20,000 00 The commissioners, in forming this estimate, have not calculated on any receipts from the revenue laws of last session, as it is doubtful whether any payments will be made into the treasury prior to the 1st August next, the county treasurers nor being required to pay over until the 1st September in each year. Neither have they calculated on the payment of interest on loans that may be authorized during the present session, as it is presumed a premium can be obtained, more than sufficient to pay such interest, for the time which the estimate embraces. All of which is respectfully submitted. SAM'L. M'KEAN, Harrisburgh, December 13th, 1831. Resolved, That a committee of five members of each Councils, including the Presidents thereof respectively, be now appointed, whose duty it shall be, in conjunc tion with the Mayor and City Solicitor, who are hereby requested to act, to consider and report, at the next stated meeting of Councils, and at succeeding meetings if needful, what measures ought to be adopted, in order that the Mayor, Aldermen and citizens of Philadelphia, may promptly and faithfully execute the trusts created by the late Stephen Girard. At an election by the Select and Common Councils, held yesterday afternoon, the following gentlemen were elected directors of the Public Schools for the first section of the school district of the state of Pennsylva nia: GIRARD BANK. At a large and respectable meeting of the Merchants, Manufacturers, and others, of the city of Philadelphia, at the Merchants' Coffee House, on Saturday afternoon, at 3 o'clock, held in pursuance of public notice, BENJAMIN W. RICHARDS, Esq. Mayor of the city, was called to the Chair, and MATTHEW NEWKIRK and SAMUEL C. FORD, were appointed Secretaries. The object of the meeting having been stated from the Chair, the following preamble and resolutions were offered by Alexander McClurg, Esq. and unanimously adopted: Whereas, The death of our lamented fellow citizen, STEPHEN GIRARD, Esq. has suddenly deprived this community of an extensive capital, so judiciously employed by him in banking operations; and, whereas, the withdrawing so large a sum at once, from circulation, even at a time when money was in the greatest abundance, would subject many persons to much difficulty and great embarrassment, which is rendered more severe and oppressive at the present time, when the demand is well known to be greater than for many years past; therefore, Resolved, That in the opinion of this meeting, it is of the utmost importance to Merchants, Manufacturers, and all others, interested in the trade and prosperity of this city and adjoining districts, that a Bank be esta blished with as much promptness as may be expedient, and with a Capital fully adequate to supply the deficiency. Resolved, That a Committee. to consist of twelve persons be appointed to draft a Memorial to the State Legislature, setting forth the great want of Banking Capital experienced especially at the present time and respectfully praying them to grant a Charter, incorporating a new Bank, with a capital of three millions of dollars. Resolved, That the Bank shall be called the Girard Bank of Philadelphia. Resolved, That the Committee appointed have full power to fill vacancies, add to their numbers, procure signatures to the Memorial, and attend to such other matters as may be necessary to carry the object of this meeting into effect. Resolved, That the Chairman and Secretaries be add proceedings of the meeting held at the Merchants Coffee House on Saturday last,) held at the County Court-house, on Wednesday afternoon, for the purpose of memorializing the legislature for a charter for a Bank, to be called the Girard Bank, JOHN LISLE was called to. the Chair; ALEXANDER COOK and Col. JOHN THOMPSON were appointed Vice Presidents, and C. Macalester, Jr. and Miles N. Carpenter were appointed Secretaries. Mr. Laussat moved the following resolutions, which were unanimously adopted. Whereas, The late meeting at the Merchants' Coffee House was held at a time unusually early, without allowing the ordinary and expected delay, its proceedings were precipitated, and the various interests vitally concerned in its objects had not a full opportunity accorded them of being represented therein; and whereas the amount of three millions of dollars, designated as a capital by the said meeting-though undoubtedly required by the wants of the community in various parts of our city and county is unusually and unnecessarily large for a single institution. Resolved, That, we, the Merchants, Manufacturers, Mechanics, Traders, and others, of the city and county of Philadelphia, here assembled, agreeing in the gener al objects of the former meeting, do nevertheless, disapprove of the manner in which it was conducted, and are opposed to its proceedings. And whereas, the dissolution of the Bank, lately conducted with so much usefulness to the public, by our lamented fellow citizen, Stephen Girard, has suddenly, and at a very momentous crisis, deprived this community of a large amount of capital that had before been actively and liberally employed, and which from experience is known to be indispensable to our welfare and prosperity, even under the most flourishing auspices of trade: Resolved, That it is expedient to establish a new Bank, to be called the Girard Bank, after the name of our distinguished citizen; and that the said Bank should be so fixed with regard to location, as to supply the new deficiencies and wants that have just been created. Resolved, That a committee of five be appointed for the purpose of drafting a memorial to the two Houses of Legislature, expressive of the sense of this assembly, and that the said committee be instructed to present their report to the meeting for their approbation. A memorial, reported by a committee was unanimous-ly adopted, and a committee of fifty appointed to carry into effect the objects of the meeting. The following gentlemen compose the committee: Benjamin Tevis, Antony Lauseat, Thomas Cave, George Troutman, Robert Patterson, Asher M. Howell, Benjamin S. Bonsall, Thomas Lancaster, Henry Korn, John Goodin, jr. Edmund A. Souder, Samuel F. Bradford, John M. Chapion, David Lapsley, jr. Pearson Serrill, John B. Swett, Jesper Harding, Edwin T. Scott, John M. Barclay, Frederick Stoever, John Horn, Thomas J. Petriken, George Guier, John Knox, Robert Ew ing, Sampson Tams, Mordecai D. Lewis, John Grigg, Jesse Smith, Thos. Rogers, John L. Wolf, William Carman, Henry Toland, Henry White, William Newell, jr. John Harding, jr. Caleb Cope, John Thoburn, John D. Goodwin, Dennis M'Credy, William Booth, James Burke, John Moss, S. Destouet, Thomas Haven, Augustin Stevenson, William G. Alexander, James Harper, Lawrence Lewis, John L. Hodge, John Barclay, Miles N. Carpenter, Freeman Scott, Benjamin E. CarpenterThe following resolutions were then offered and adopted = Resolved, that, in the opinion of this meeting, no banking or other business corporation, ought to be chartered, without providing for preventing the stock from being monopolized by a few persons; and for this purpose, it is necessary that no one be allowed to subscribe as the attorney or agent of more than one individual. Resolved, that the commissioners appointed to receive subscriptions, ought to be sworn or affirmed to act with strict impartiality. Resolved, that subscriptions ought to be received not exceeding five shares to each individual, until all persons wishing that number have been accommodated, JOHN LISLE, President. ALEXANDER COOK, Vice Presidents. JOHN THOMPSON, C. MACALESTER, jr. GILES ECTERENTER, } Secretaries. MEMORIAL To the Senate and House of Representatives of the Commonwealth of Pennsylvania, in General Assembly met: The memorial of the undersigned, merchants, manufac turers, mechanics, traders and others of the city and county of Philadelphia, Respectfully showeth, that the indispensable necessity to mercantile prosperity of a certain reasonable amount of capital to be employed in banking operations, is an axiom established by the experience and knowledge of this community, and the universal acceptance of all com. mercial nations: That the amount of capital hitherto employed by Stephen Girard, which was always and at all times treated by your honourable bodies as part of the reasonable supply of this city and county for banking purposes, is now about to be withdrawn from the general use of the community, and to be removed to other objects and employments; while, to add to the distress of your memorialists, they are exposed to the disastrous effects of such a commercial crisis as American trade has rarely witnessed: That the banking capital accessible to the important, numerous and valuable interests, requiring its assistance, within the limits of the city and county of Philadelphia, was well known to be inadequate to the calls of the community, even when the general prosperity of trade and the extraordinary abundance of circulating medium diminished the amount of the public want, and the great capital of Mr. Girard, which enabled him to employ three millions and a half of dollars actively and liberally in discounts increased in an immense proportion the quantity of financial supply: Your memorialists, therefore, humbly pray your honourable bodies to incorporate a new bank for the city and county of Philadelphia, with such capital as in your wisdom may be considered necessary, That the said institution receive the name of "The Girard Bank of the City and County of Philadelphia," as some acknowledgment of the public respect for our late worthy and eminent fellow citizen, and that its location be directed for the special purpose of supplying the new wants and inconveniences that have just been created by the dissolution of a bank, lately existing and in operation. Your memorialists do not pray for a capital so extensive as that formerly employed by Mr. Girard, because, although they believe that the whole sum would not be more than adequate to the public necessities, yet they consider it more equitable-more republican-and more conducive to the welfare of the community, that the amount should be distributed among several institutions, situate in various parts of the city and county, and thus excite to a wholesome and useful competition. And your petitioners will ever pray, &c. TWENTY-SECOND CONGRESS IH SENATE, Monday, Jan. 9, 1832. BANK OF THE UNITED STATES. MR. DALLAS presented the following memorial from the President, Directors and Company, of the Bank of the United States: To the Senate and House of Representatives of the United The Memorial of the President, Directors, and Company of the Bank of the United States, in the name and in behalf of the stockholders of the Bank, respectfully represents That the charter of the Bank being about to expire, on the 4th of March 1836, your memorialists deem it their duty to invite the attention of Congress to its renewal. The general considerations which caused the establishment of the Bank, the manner in which it has executed the duties assigned to it, and the reasons which recommend its continuance, your memorialists forbear to discuss, since, of these subjects, your honorable bodies are more competent and appropriate judges. They will therefore merely state the views which induce their application at this time. Unless the question is decided by the present Congress, no definitive action upon it can be expected until within two years of the expiration of the charter-a period before which, in the opinion of your memorialists, it is highly expedient, not merely in reference to the institution itself, but to the more important interests of the nation, that the determination of Congress should be known. Independently of the influence which the bank was designed to possess, and which it necessarily exercises over the state of the currency, by which all the pecuniary transactions of the community are regulated, its own immediate operations are connected intimately with the local business of almost every section of the United States, with the commercial interchanges between the several states, and the intercourse of them all with foreign nations. Of the value to the community, of the system which after long and anxious efforts, and at great pecuniary sacrifices, your memorialists have at length succeeded in establishing, it is not for them to speak; their more immediate purpose is to represent, as they do, most respectfully, that the continuance or destruction of that system, thus widely diffused through all the avenues of the productive industry of the country, affecting all the relations of public revenue and private income, and contributing to give stability to all the rewards of labor, is an object of general solicitude. If, satisfied with the practical operations of the institution, your honorable body shall deem it worthy of continuance, it seems expedient to relieve the country, as soon as may consist with mature deliberation, from the uncertainty in which all private transactions, and all public improvements, dependent on the future condition of the currency, and amount of capital disposable for those objects, must necessarily be involved until your decision is known. If, on the other hand, the wisdom of Congress shall determine that the bank must cease to exist, it is still more important that the country should begin early to prepare for the expected change, and that the institution should have as much time as possible to execute the duty, always a very delicate and difficult one, of aiding the community to seek new channels of business, and, by gradual and gentle movements, to press with the least inconvenience on the great interests connected with it. Under these impressions, they respectfully request that the charter of the bank may be renewed. By order of the Board of Directors, N. BIDDLE, President. Mr. DALLAS said, that being requested to present this document to the senate, praying for a renewal of the existing charter of the Bank, be begged to be indulged in making a few explanatory remarks. With unhesitating frankness,he wished it to be understood by theS enate, by the good commonwealth which it was alike his duty and his pride to represent with fidelity on that floor, and by the people generally, that this application, at this time, had been discouraged by him. Actuated, mainly, if not exclusively, by a desire to preserve to the nation the practical benefits of the institution; the expediency of bringing it forward thus early in the term of its incorporation, during a popular representation in Congress, which must cease to exist some years before that term expires and on the eve of all the excitement incident to a great political movement, struck his mind as more than doubtful.-He felt deep solicitude and apprehension, lest, in the progress of enquiry, and in the developement of 1 views, under present circumstances, it might be drawn into real or imagined conflict with some higher, some more favorite, some more immediate wish or purpose of the American people. And from such a conflict, what sincere friend of this useful establishment. would not strive to save or rescue it. by at least a temporary forbearance and delay? Nevertheless, his conscious inexperience in the forms and contingencies of legislation, inspired a distrust of his own judgment on this merely preliminary point. The determination of the parties interested, may be, nay, must be, wiser and better, and he could but feel strongly impressed by the recollection, that the legislature of Pennsylvania, recently, and in effect, unanimously had recommended the renewal of the charter of this Bank. He became, therefore, a willing, as he was virtually an instructed agent, in promoting, to the extent of his humble ability, an object which, however dangerously timed its introduction might seem, was in itself, as he conceived, entitled to every consideration and favor. Mr. D. concluded by moving that the memorial be read and be referred to a select committee of five in number, and that the committee have power to send for persons and papers. rences of the last four weeks, and remembered what had taken place at a late convention in Baltimore, and the motives which had been avowed for bringing forward the subject at this time-he must say, that gentlemen ought not to permit a petition of this kind to receive the attention of the House. Who could doubt that the presentation of that me. morial was in fact a party measure, intended to havean important operation on persons occupying the highest offices of Government? If, however, it should be considered necessary to enter upon the subject at the present time, Mr. Wayne said he was prepared to meet it. But when gentlemen saw distinctly before their eyes, the motive of such a proceeding, he hoped, that notwithstanding there might be a majority in the house in favour of the Bank, gentlemen would not lend themselves to that kind of action. Could it be necessary to take up the question of rechartering the Bank at the present session? Gentlemen all knew, that four years must pass before its charter would expire, and that Congress had power to extend the period, if farther time was necessary to wind up its affairs. It was known that other subjects of an exciting character must come up during the present session, and could there be any necessity, or propriety in throwing additional matter into the House calculated to raise that excitement yet higher? He trusted some individual would follow him, who might be able to present the subject to the House in a stronger He should be willing in the very Mr. BELL said he was not aware of any reason for the light than he could. postponement; and as none had been assigned for it, he outset, to meet it by a motion to lay this memorial upon could perceive no propriety in the postponement. It the table; but he would not make that motion at present; would,also, be a thing unprecedented in the Senate; and inasmuch as it would preclude a discussion which he unless some reasons were adduced in favor of the post-wished to see proceed. He would, therefore, reserve ponement, he should prefer that the Senate should, ac- himself for such ultimate action in reference to it as he cording to its usage, proceed at once to the appointment might consider proper. of the committee. The memorial having been read and the reference agreed to Mr. DALLAS moved that the appointmnnt of the committee be postponed till to-morrow. The question being put on the postponement, it was negatived. Ayes 15, noes 24. The Senate then proceeded to ballot for the committee, and the following gentlemen were chosen to compose it, viz: Mr. DALLAS, Mr, WEBSTER, Mr. EWING, Mr. HAYNE, and Mr. JOHNSTON, HOUSE OF REPRESENTATIVES. This day being, by the rules of the House, the day of the week on which petitions are to be received, a number were presented; amongst which was presented, By Mr. McDUFFIE, the memorial of the President and Directors, on behalf of the Stockholders, of the Bank of the United States, asking for a renewal of their char ter. After the above mentioned memorial was read, Mr. DAVIS, of South Carolina moved to refer it to a committee of the whole House on the state of the Union. Mr. McDuffie said, that if he even could suppose that the Baltimore Convention had had any thing to do with the presentation of the present memorial, he trusted that he, at least, would be free from the suspicion of acting in this House as the agent of that body, if any man in the United States could be free from such a suspicion. So far, however, as regarded the President, Directors, and Company of the mother bank, he must say, that so far as his situation had given him an opportunity of having any knowledge of them, (and he had had much to do with those gentlemen) he did not believe that there existed within the limits of this Union, an organized body more perfectly exempt from any just liability to the charge of acting from political considerations; and so far from having had the remotest connection with any political movements, either at Baltimore or elsewhere, he should rather come to the conclusion that the present memorial had been presented after a consultation with the party to which the gentleman from Georgia, as well as himself, belonged, than with those of opposite party opinions. He regretted-exceedingly, that this should have been regarded as a po A motion was also made to refer it to a select commit-litical question; but it was the misfortune of our coun tee. Mr. WAYNE, of Georgia, said, that he had on a former occasion expressed his objection to the reference of this subject to the Committee of Ways and Means; and he should not trouble the House by repeating now, what he had advanced at the commencement of the session in favor of the appointment of a select committee; but he called upon gentlemen to consider what was the attitude of the Committee of Ways and Means in reference to the Bank question, and to compare it with the attitude in which that question had been presented to the House by the President of the United States, and he would ask whether it was not manifestly proper to submit the Memorial to a committee entirely uncommitted upon the subject. But this was not the object for which he had risen-the present question had not come upon him unexpectedly he had been aware before he entered the House that a memorial of this kind would this morning be presented, and when he looked back upon the occur try, that no subject of any kind could be started, which had reference to the general interests of the people, but it must instantly be converted into a political question, and connected with that all-absorbing topic-a topic which he feared would one day prostrate the liberty of the country-the election of a President. Could not the consideration of any question, referring to the interests of the country, be entered upon, but it must be to put this man into office, and that man out? Could no question of any kind be disposed of with a calm impartial judgment? He should deeply regret if any gentleman, in acting on the present subject, should be influenced by the question, how its decision would touch the election of this man or that. He could not possibly see how it could have any thing to do with the matter. Why must this be made a political question at this time more than at any other? Did the gentlemen from Georgia suppose that the progress of purification would be such, that at any future time, personal considerations |