Legislative

In the House, Jan. 15. - On motion of Mr. H. W. Tnylor, the resolutions proposing cei-tain amendments to the Constitution were taken from the table and referred to the Committee on State Affalrs. On motion of Mr. Driggs, Resolved that corrimittee on Judiciary inquire into the e.xpedisflcy of amcnding tlie assessment law so that no person shall be assessed on persona) property to the amount of his indebiedness. The bill to issue new Stale bonds for tho outstanding part paid bonds of the Slate was passed to a third rending. These boñ.ís are to be payable in 1863. In the eourse of the discussion, Mr. Adam remarkod that the whole debt, after the available me:.ns of the state are applied, will be reduced to about a million and a linlf. , If we get an appropriation of land from the United States to which we aro entilled, to place us on an equality witli the other western state?, it wiil reduce our indebtedness toabou: a million, ihe interest of which will be $66,000- n two mili tax on our present low valuation will meet the interest. Ohio has to raise even milis lo meet the interest on her state debt. Maryland has añ indebtness requiring $'650,000 annually to meet the interest. He f Mr. A.) sciw nothing nlarming in our circumstances j a two mil! tax iC we get a gran, of land, or at the most, a three mili tnx, will pay the interest on our whole debt. If we become an interest paying State, our stocks will be above par. Interest on capital both in Europe and here is b?coming less every year, and it will betler for the state to havo the privilege of redeeming it at an early period. In Senate, Jan. 14. Mr. Green rcported adversely to the proposition to alter a portion of the revised statutes relative lo the admission of attorneys, and against the proposition to confer thesame powers on judges of the county and supreme courts in criminal cases as is conferred on single magistrates.] [The revised stakites provide that every person admitied to practice law shall be taxed fivo dollars, for the purpose of forminga law library for the supreme eourt. ] Mr. Balch opposed the adoption of the report. He thought the tax of $5 onerous, and ought not to be inflicted. Mr. Green sustainetf the report. It was necessary for tho administration of justice that a good library be provided for the supreme court. The tax of 5 is ltght, anyone who can read law and be admitted can easily raise the amount. The library is equally necessary for the bar, as for the cliënt and court. The judges are paid salaries'too low to enable them to procure a sufïicient library. The question being on the adoption of the repori, it was adopted, yeas 10 nays 9. Mr. Fenton, from committee on state afiairs, reponed a resolution instructing the Senators in Congress from this state to vote íor an alterationof the post-oflice law, so asto allow persons to writetheir names on newspapers, documents, &c, sent by mail. Laid on the table. On motion of Mr. Balch, the Senate reconsidered its voto of yesterday, instruciing the judiciary committee to enquire into the expediency of modifying the revised statutes so as to restore the court of chancery or to extend it bcyond the time when it is by law to be abolished. Mr. Balch oíTered a modification soas loinslruct the commitlce to inquire intothe expediency of allowing the chancery court to finish all business before thcm, f finished within one year. The resol ution was carried, yeas 14, nays 4. Mr. Allen oflered the following : Resolved, That the committee on tlie judiciary be instructed lo enquire into the expediency of making provisión by law fora codification of our laws, and that they have leave to report by bill or oiherwise. Mr. Allen sustained lus molion by a speech of some length, and in which he referred to the facl that the New York Convention for the amendment of the constitution, provided for a work of this kind. Mr. Dentón was well aware of the importance of ihc work, but he thought the fact stated by his eollengue that New York was going into the subject, was a good reason why ihis resolution should not be udopted. The New York codification of the common law would answer as well for this sfate as for New York. Mr. McReynolds opposed the resolution, and founded his objections ngainst it mainly on the arguments of the Senator in iis favor. The state has just got througha revisión of the laws, and that has cost the state enough in all conscience. The resoluiion was lost. In the House, Mr. Taylor's resolutions on theCurrency carne up. Mr. Adam ofFered asubsiitute, stating in substance thnt specie, the only safe basis of a circulating medium, can only be obtained from accumulated capital and personal industry. That the unsound and fallacious theones of banking propagated by bankers and their friends have proved practieably ruinous and banefully pernicious to the wholo people. That experience in other countries has shown that pure metalic currency for retail transaction and a common circulating medium amongst the people is tho only safe one and is alike desi rabie und practicable. That a dcpreciated paper currency will always take the place of the legitímate currency. That it is no more within the province of a State government to furnish money to buy wbeat or other products of industry than it isto furnish wheat to buy money. That the committee on banks be instructed to inquire into the e.xpediency of prohibiting the issue of all small bilis, and the circulation of all bilis not convertible into specie in this state - of providingfurther security for issues of banks now in existence and of providing an amendment to the constitution which shall prohibit the creation of any mofe banks. Mr. Taylor made a long speech in reply, for which we have not room. He did not wish the commitiej to bring in a bill for the establishment of Banks, but to providesome relief for the grievous burdonsofthe people which he feelingly depicted, showing that Jbusiness suffered severely in efiecting exchanges, wliich tended todepress industry. Hecited the usual arguments in favor of a paper currency, and contended that we must nave a currency, if not our own, we shall be supplied by other states and foreign provinces and no prhibition can prevent it. He (Mr. T.) did not approveof wild cat banks, but a good commercial bank with a hundred thousand dollars paid in gold and silver, confining itsplf to its own proper duties would be a great advanlage to tho state. We wanted some institution here, and f the whole tenor of past legslation had not been of so ruinous acharacter, we should have had capital ists and capital flowing into the state. Make the investment of capita) here safe, and the property of the state will increase in value. Was it worth while 10 let the people remain in sufTeringand in poverty, only to support some old and worn out dogmas about banks and banking? Mr. Adam replied ; and on molion of Mr. Johnson, the resolution was indefinitely postponed.