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Domestic News May 29, 1841

The Mississippi Creole

Canton, Madison County, Mississippi

What is this article about?

Pennsylvania Legislature overrode Governor's veto of Revenue and Relief Bill on eve of adjournment, enabling payment of public dues and state debt, and providing legal relief to suspended Philadelphia banks, including Bank of the United States under conditions; strong sentiment for its liquidation.

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Full Text

The Revenue and Relief Bill, vetoed by the Governor of Pennsylvania, passed into a law by the approval of the constitutional majority of both Houses, on the eve of the adjournment of the Legislature. The bill is one of great importance, providing, as it does, for the payment of the public dues and a portion of the State debt maturing within the present year and also affording the necessary legal relief to the suspended banks of the city and county of Philadelphia to enable them to carry on business without incurring the destructive penalties established by prior Legislation. The Bank of the United States of Pennsylvania is brought within the provisions of the bill, on certain terms and conditions, which may not be complied with by the Stockholders, as their interest may incline. In reference to this institution there appears to be a strong feeling in the business circles of Philadelphia in favor of liquidation.—Nash. Whig.

What sub-type of article is it?

Politics Economic

What keywords are associated?

Revenue Relief Bill Pennsylvania Legislature Governor Veto Suspended Banks Philadelphia Banking State Debt Bank Liquidation

What entities or persons were involved?

Governor Of Pennsylvania Stockholders Of The Bank Of The United States Of Pennsylvania

Where did it happen?

Pennsylvania

Domestic News Details

Primary Location

Pennsylvania

Event Date

On The Eve Of The Adjournment Of The Legislature

Key Persons

Governor Of Pennsylvania Stockholders Of The Bank Of The United States Of Pennsylvania

Outcome

bill passed into law despite veto; provides payment of public dues and state debt; legal relief to suspended banks in philadelphia; bank of the united states included on conditions; sentiment for liquidation.

Event Details

The Revenue and Relief Bill was vetoed by the Governor but passed by constitutional majority of both Houses. It addresses payment of public dues and maturing state debt, and offers relief to suspended banks in Philadelphia to avoid penalties. The Bank of the United States of Pennsylvania is included conditionally, with possible non-compliance by stockholders; strong business favor for its liquidation.

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