Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-09-23
VA u n II \ "a A IL X EFT.

Friday, Sept. 22, q Il. M.
The excitement increases ia money marke-but il ;s
the excitement OF recovery depression specie still falls
Today declined to per cent and of very flat and
heavy The bullion brokers viii be great losers by the new
course which things nre taking. sprsbabe there are
$3o0o0c $500 0eO among this fraternity in the street
within the last few days. since the prospect strong of
the relief passing Cong specie has declined ia
per cent onthe stock on hand therefore, the holders win
lose $4,000 smash by the fall God bless There no de-
nand al all for in the face proposed ssp
OF Treasury notes. and o. s. Bank bonds equal to
The import of specie in small quantities. also continues in The
outperts-
The stock market buoyan lough United States bank
shares have declined The decline in The latter article n
fro the belief that there prospect OF any harmony Of
action taking place between the government During
the last months have le en- made ndrect
y through third persons TO bring about be-
the directors of the bank President and MS ca
binet Mr. Dennis A. Smith, OF Baltimore Mr. Poiasett and Mr.
Forsyth have had many interviews the subject but thew
have all ended in nothing.
The great Of conversation the bank parlos and in
the the Treasury Circular of Mr. Woodbury. making
proposition the banks for sale Of Treasury notes We
have copy OF the circular ruror is that the
Secretary demands specie for the
We think there must be misrepresentation on this
point The Secretary suppose ha worid be neces-
eqoire the specie for the whole issued II
possible he merely open negotiation for rosump-
ton of specie payments would be very easy general
arrangement and understanding adjust matter So as 10
make the issue OF the Treasury and the general resump-
duce such sort Of part the banrs
but his method of approach is clumsy and indirect
With the passage of the before Congress- and
the proposed issue OF fresh bonds by the IT, s. Bank
peent to resume specie paysen-resore domestic ex
changes and bring down the oregn exchanges par in few
weeks.
There methods by which government could aid
in the reconstruction of confidence.
Fvs-an arrangement between the government and the
banks by which the latter would once purchase whole
rTn IN e. -
derstandng that they Immediately specie payments
and pay their paper the government required
which then roud be equraien 10 spee In this arrangement
the banks OF BALTIMORE New York. and Boston join The
United States Bank by its newissue OF bonds
also facilitate the policy The demand specie would
Instantly The foreign exchanges would be supplied
with Treasury or bank bonds immediate remittance
and thus in month the whole machine OF might
in motor.
The second mode is ny The process of trade. If the
banks do Secretary OFFER stasd aoe the
government pay the the public they
wanted for what he viii take them for From his
they viii gradually into the Golfers of the banks and the
mecanconverge towart the point to which the balances
ena-and thus the hands OF the exchange dealers
New York for foreign remittance
Thisis the natural but the slower process.
The Secretary from the these interest,"
may hope sell them premium. Indeed, from
anoler that he asks expects per premium
for securities bearing per cent redeemabe the expra
ton of year in 81 ecie.
Thus stood these highly import The close Of bu
today. Wehave yet learned tina, amy
has been taken OF the banks IT probable that the
rotary may have made offers the article, New
leans, Baltimore, Philadelphia and Boston The great
for these financial operations IS however, this city and Pk
ladelrhia. II the bill passes the House, win
gular results When the deposites in 1894,
raised gains the by the IT, g. Bank
that its action created pressure The government The
deposte banks TO loan money"lend make
money plenty" The United States Bank, finding that was
the game determined he outdone race of
Esercial popularity and loaned money depose
banks What the OF these rsa in
catching she popular applause IAN expansion OF the currency
great pentiness Of money-prodieious impulse trade
rise in prcesrapd fortunes and all the pheuomena
prosperity and excitement in the upward markets.
From the present position and half intentions OF
these rival powers in the monetary MARKET may
Threshold Of another and similar tide expan
sion Just before the elections in this state
proposes into the money market with $1,000 0ee
Of fresh paper money The U. s. Bank seeing tbs effort
catch the good feelings Of the commercial classes jumps
and proposes throw into the e. eeaoec.
II such movements take Tlace, and they extremely
bahe shah have avaanches money in less than three
monhs-prices viii rse-socks win rise-ioruaes will he
msds-snd every thing snie again. Let watch and
port.
Condition OF the Boston banks, oning Maachuset Fran
kiln and Lafayette Banks the close OF business Sept I6,
1887, agreeaby made the Standing Commit
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