Morning herald., 1837-11-22

Ss.eO0.Cna


All leans the process and
in London and in a will be decidedly Vi.
se favorable tendency Of
Specie and bullion therefore, continue sto this
into this ciynot only from abrsad but from
the great west
We know Of calculated prevent The real
izaon of this view, unless be the importation OF foreign
bread stus supply the of the Atlantic cities which
many persons begin anticipate from the supposed condition
OF the and markets This drain has yet become
IL believed generally tbat the crops deficient
But while this the condition Of the specie Market
question, what has become Of all the quantities
brought country in femer years. and beg inning
flow back again upon us! The banks from the published
Statements would have small portion. The Usi,ed
Bank indeed appears, rsm all have
ed the largest the midst of The general struggle What
has become OF specel That the mystery be solved
We unravel this enigma. Asnge fact will hrow beam
oflight upon subject In single township Of Long Island
inhabited by wealth, farmers lave learned the exraord-
nary fact that about fy farmers actually pssses gold
silver nearly 100000 Some Of these farmers have s5 900
have ss ooe-some $4,000, and $4,000 all gold
and silver bullion
This single but undoubted fact, bat developes the
don Of the agricultural interest Of The whole middle
Since the year 1882 when the first fierce
the and the United States Bank the gra
duay withdrew their confidence all banks slowly COLI
leeted the profits labor and crops in hard money At
t. il is probable that Of the 500 specie
which have this country since $780, not less than
COO have reached the pockets Of the farmers far and
wide there day. During this period Of time
the crops been generally goodprces generally high
commerce. last spring, mated Coeval
with this between the government the hanks
gan the p ofhoardng hard money and il ought be
surprising therefore that this the bulk the surplus
specie this country snugly the hands OF produ-
hcseives-the hardsied, prudent dependent
and agrio ul,urists.
The drain which produced the catastrophe last sprisg
amosg banks caused by the ragged pennyles To-
the inevitable result Of the Of the
agrcuuras receive and lay species Of money
gold determination begun and by the panic
created uader TRADES OF the General Government
banks paper money and paper The suspension OF
specie payments only the winding up Of The drama
The difficulty therefore, which the banks feel at this crss,
Of confidence in their pervadng generally the
The and manufacturing classes
this confidence in advance the banks because
they intimate with the springs Of their sovency-but the
agricultural classes look upsn all banking nsuiiom-a pa
per money with jealousy and doubt This Jealousy and this
doubt been by the wicked conduct OF
rb places and can only be removed, slowly and gradually
nv an amen candid manly and honorable in the banks
themselves The approaching Convention IL wisely conduct
cd may begn Of returning confidence ff bick.
ernps or divisions secresy ndirecton prcva this
assembly, they may rely upon IT, that their meeting will be
more disastrous their own Interests than f they had
met at ALL II sihe great class agrcuur as,s farmers
producers visionary locsfocos, merchants
they conciate lift possible
ate confidence month, $50 oeo OF specie coud
returned to banks from old stockings which
psper equal three present ouap-
uty OF bank bills in circulation
Let the Bank Convention wisely and all will yet be
wei.