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New York, New York County, New York
What is this article about?
In Ohio, Loco-Focos are upset over the legislature's refusal to renew charters of 11 specie-paying banks that expired on the 1st inst. A bill for six-month extension passed the Senate but failed in the House, with party-line votes and Loco-Foco leaders opposing it. The Ohio Statesman argues it will expand currency.
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Where did it happen?
Domestic News Details
Primary Location
Ohio
Event Date
1st Inst.
Key Persons
Outcome
eleven specie-paying banks' charters expired without renewal; bill to continue charters for six months passed senate but lost in house.
Event Details
Loco-Focos distressed by Legislature's refusal to renew charters of Specie-paying Banks. Whigs generally refused to vote for a six-month continuation bill based on Loco-Foco banking ideas. Bill passed Senate (17 Locos and 10 Whigs for, 4 Locos and 2 Whigs against) but lost in House (31 Locos and 2 Whigs for, 9 Locos and 28 Whigs against), with Loco-Foco leaders M'Nulty, Byington, and Spindler voting against. Ohio Statesman claims winding up banks will increase currency due to specie exceeding issues.