IFcr lhe Regisler and Jonrual.
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TUSCALOOSA, Dec. 19, lS4l.

 SIRs.-Knowing tie anxious state of tle public mind in Mobile, wei as elsewhere, in reference what gslation eur banks will be subject to, take pleasure in furnishing you with the latest signs.

 A day or two since, all hopes of any change, or reform were nearly given up. Out of the multitude of projects, and Babel of elashing views, un,ed to a lietful impatence to adjourn soon. and great con fusion in business, the belief generally enlertain- ed, the legislature would adjourn leaving the Banks where it found them ",fhe second sober thought, ,' however, has inerposed to arrest such an event. The Democratic party feel that the people are look ing to it, and demanding of it to effect modii cation in their Banking system; and awakening sud- denly to proper of their attitude and respons

 bility the state convened last evening for the pur pose of calmly inierchanging views, and iarmonsing their action upon this important and perPexing sub feet had the honor of being present at that ing, and can attest the earnestness with which it went to work. The subject of the present Banking system was thoroughly discussed and eXamned in detail; and after mature deliberation, the meeting concluded, the question to be decided was, whether the State Bank system with modification, and amend ments, should be continued, or private stock Bank should be adopted, a substitute. This being the question to be determined, the party preferred the former with all its evils, and liabilities to failure, the latter, with its Democratic monopolsng, and corrupting tendencies. Many avowed themselves de- cidedly opposed the present system, and expressed their eagerness to get rid of il. Then the question came up, the country must have some kind of Bank, what system would be raised upon its subversionl It was believed, under the necessity that would be created by ihe winding up of our State Bank, for the adoption of some substitute, the Wings would seize upon the exigency, and succsed in rearing up sys tenn of stock Banks, acknowledged by every member of the party to be far more objectionable than ike present. 1t was therefore determined not attempt to get the country out of its present difficulties by augmenting them and originating more and that sound policy would suggest continuation of the old sys- tenn with certain notifications rather than be driven to the fearful alternative of having the people of the state s.hewers of wood, and drawers of water," to that favored class, who would own and control the stock, and discounts of these stock Banks; owned not by our own ctizens but ny the operators of Wall street, and the London capitalist, whose sole object