opposition, on joint ballot, to the State and General Governments, commanded the public attention in no ordinary degree. The more particularly, as the topics which would naturally be presented for their deliberation were of unusual weight and importance.

The suspension of specie payments by the banks of this State-no matter by whom caused, or by whom sanctioned-inflicted an almost intolerable inconvenience upon the people, from the consequent scarcity of silver coin. As the laws prohibited the emission of small notes by our State banks, the people were of necessity subjected to an influx of depreciated paper money from foreign States, which circulated from hand to hand by common consent, in despite of the ineffectual laws which had been enacted to restrain them. This state of things forced the general conviction upon the public mind, that it was the wisest policy to return to our ancient system, and allow our banks to furnish a better small-note currency, than that which then filled the lower channels of business. Upon this conviction the Legislature acted, and their measures were followed by the general relief, from a depreciated currency of which the people, in the main, knew nothing, and the necessity of practically proclaiming the law which prohibited it, to be a dead letter.

At an early period of the session a memorial of a most unexpected and extraordinary character was pre

sented to the Assembly. It prayed neither more nor less, than that the Legislature would enact a law to prohibit the practice of praying, singing, reading the Bible, and other religious exercises in such schools, academies, and seminaries of education, as receive aid from the public treasury. This subject, of so much importance to the substantial welfare of the youth of the State, and the perpetuity of its institutions, was referred to the Committee on Colleges, Academies and Common Schools. The report of that Committee, confining its views, with great strictness, to the question in a solely political light, demonstrated with much delicacy and forbearance, and yet with sufficient strength, the fallacy of that theory which forebodes an infringement of republican liberty as inseparable from a general reading of the Holy Scriptures. The action of the Assembly, subsequent to the production of this Report, was all but unanimous, in adopting the recommendation of the Committee, viz: "that the prayer of the memorialists be not granted." It is sufficient for the merit of this Report, to say that it has not only been received with commendation in this State, but it has commanded for itself an extensive circulation and reprint in other States.

The introduction to the Assembly of a Bill to incorporate the Cold Spring Whaling Company, though in itself of limited public interest, became of importance in consequence of the discussion which it drew out, bear

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ing upon great abstract questions. Among them was one as to the propriety of subjecting Corporators to personal responsibility for the debts of corporations. The negative ground is strongly taken in a speech contained in the present volume, which, as an exposition of an important principle, it has been deemed expedient to retain in a more enduring shape than the columns of a newspaper.

When the Executive of the United States summoned Congress to an extra session, in September, 1837, he promulgated to them, in his special message, an entire new theory as to the future management of the public money, and the reciprocal duties between the government and the people. He proposed an entire abandonment of what, up to his time, had been considered an essential power and duty of the government, enjoined by the constitution, and suggested instead, a system of individual receivers and custodians of the public moneys, subject generally to the supervision and control of the President. This, which soon became known as "The Sub-Treasury Scheme," was received with signal disfavor by the people at large, of both parties. unconstitutional was its character and fallacious its logic considered in this State, that resolutions were introduced into the House of Assembly, condemnatory of its principles and policy. The introduction of these resolutions called out the able and searching examination of this

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leading executive measure, which will be found in the succeeding pages.

In addition to the report on the memorial against the use of Bibles, the Committee on Colleges, &c. made a report to the House on that part of the Governor's message which relates to Public Instruction. This report enforced upon the Legislature, with much clearness of logic and strength of eloquence, the duty, eminent and obligatory, of providing for the education of the poorof enlarging the field of intellectual action-and of securing to the young the means of cultivating the nobler powers and the purer virtues. It was received with the due appreciation to which it was entitled, both in and out of the House.

Upon the important subject of Internal Improvements the House had the good fortune to be highly gratified, and it may be added instructed, by a most luminous and comprehensive Report, from the pen of Mr. Ruggles of New-York, chairman of the Committee on that subject. Of the superior ability, thought, and forecast of this Report it is not necessary here to speak. The people have pronounced upon it in a language not to be misunderstood. Some remarks connected with the subject are contained in the succeeding volume, which present some important principles, worthy of the consideration of the reader.

The growing distrust, throughout the country, of the existing system of bank charters, attributable, in the Read off

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main, to the destructive efforts directed against one institution by a late public functionary, was increased to a high degree by the general derangement affecting all classes of industry, consequent upon the suspension of specie payments. There was obviously a determination in the public mind to interpose some remedial legislation, between the action of bank corporations, and the people at large. It was contended, that as these institutions were only willing to lend freely when money was plenty and people did not want it, and were obdurate in refusing when it was scarce, and their refusal produced an added pressure, that their real utility was much lessened, and that their privileges were in fact monopolies, the benefits of which, at seasons of calamity, enured only to the few. The mode of relief proposed was by a repeal of the restraining law, and enacting a General Banking Law, allowing the privilege of banking to all, under certain restrictions. This discussion called up the whole subject of banking, and the true principles involved therein. The speech at the close of the volume discusses and examines these in detail, and enforces upon the attention of the reader some cardinal principles, which are not always reverted to, even by reputed statesmen of experience, when legislating upon this intricate and important subject.

The speeches and reports of this volume are from the pen of D. D. Barnard, now member of the Assembly