Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-11-18
Decrease, &7i4oS9



As compared with IN lat from appears
that the banks Of city diminishing tser
circulation. This las created discussion among the eDs
OF sound currency. In that ancient and honorable city,
anceat as hoaorahle in money there strong d.
position TO hasten the period resumption. In very
excellent and udcious article In the Daily Advertiser
an accurate description given et the present OF
things, and from the facts, opinion prevailed that the
Boston banks will be able IN March April next
Atibe beginning the Revision The foreign debt eaeu
ed 10 be equal $4,000 600 An immediate Of part
Of that debt in spec the pros the panic
last spri sghe general banhrupcyan last he suspension
OF spec payments b. the banks II believed that Only
S2ocOoo Of the amount u due an that he Of this
has been extended require ear other The
ura progress ofexpoation u quitae. 70 his
the foreign debt 70 be attributed the declining rates OF e
reign exchange and specie
In this city Tie approximation specie i ncr.s
ing day. For the ordinary kind Of specie coanos
change for tie daily transactions q life. the difference Only
4o ~ per cent The highest only 81 This differ
win diminish the Bank Convention approaches and
their determination 10 resume Is made manifest. Yet
be admitted that the dmnuon of the circulation In our civ
banks does indicate decrease Of the currency
the country banks BY The arrangement city
couatry banks the country safey furd rapsr received Ia
payments Of all debts This the Leading
channels Of circulation to lie filed with country bank pa
per- well creating large balances city banks against
the country. The existence Of such balances adag The
country interests but very depresngt those Of the city
city banks may therefore be condos specie
| ceved, the country banks will still he in dsiable.
As Bank Convention approaches the elements Of acord
among the monetary interest developing every day
following article from the National Thursday
may be supposed 10 speak the sentiments Of Mr. Biddle
The Baltimore Patriot ober,es tia mpchls said the at
y and anry Of certain banks for ,adisc puon,
TIL s adds the editor Va bad
" conformity with irph No iank and The
time iis ordinary legitimate business uc The
wants OF the community absolutely require, until the general
confdr and business affairs oe oountry ~ aconduon
suspicious such rosumpcn" 2fer Just alk
the incnations and ability" of the Baltimore banks. which,
We believe may bc extended ~ We Try generally,
the editor says" premature attempt resolution -
before the business and temper the
ripe that measure, wosd only be productive evil" To
ludcious remarks adj that be doubtful
whether BE- effectively and
sumed until the Administration IT, directors Washington
abandon their visionary projects and their wicked
obligation Of law and morals they bound protect, The
lesson which they have received IN New York, WILL hoped
be an adrnssion TO them on this subject
The former attempt Of the b,nks here 20 sound
currency with the same objection by the Philadelphia
banks The general ecirg indicated from Baltimore Of
the character Delegates from this latter city have been
appointed meet convention, hut highly probable
that they will present obstacles TO ihs, movement facilities
On contrary the delegates from the Virginia. Georgia
Ohio Massachusetts, and Maine banks appear be acssed
by the sentiments Of sincerity 10 tasng resup
ton The objection Of Mr. Bddle that Congress ought
which raised has nothing do with the moral duty
Of the banking Institutions give sound currency. TIE
high independent AMI honorable Of the banks viii
to Congress md the couGtry ssosy TO all tie healthy
elements Of commerce.
Still II Is question how FAR portion cf the bsnts though
that portion be the largest be able adopt or
aresumpon. IL such institutions he n,ed States Bans
CHOOSES remain apart snito H. epor>bihy.
possible The banks unite AMI general syss