Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-02

NEw ORLEANS. May %, 1887, 10 A. ".
Nothing Of importance han rans2ired since my
ass till yesterday Our banks all II loggerhe5ds
On Sunday last, a a meeting Of all the presidents
scale of circulation was fixed, beyond which no bank
to go, under certain agreed on penalties Fog
STALL the chief of the Citizens Bank agreed TO the
same; but 10 and behold, on submitting il TO his
board, new light broke in upon them. II was de-
termined in this mighty council, tina, the circulation
OF their own bank should be fixed at $500 0OO while
that Of every other institution should be limited TO
one twentieth of the actual capital paid in. This
went to- destroy all The small banks, end differed IN
toto from the previous arif Again il was resolved,
that every bank should stamp the back OF its
notes henceforward paid out-payable il specie, LIST
August 1888. II was made oblgatory.to call in the
circulation fast possible and reissuedhc stamped
notes. This wonderful c,nclave further determined,
that should their bank resume specie payments at
any time previous August l, e36, the stamped
of all other banks shoud be redeemed in specie
on demand
Having thus settled the preliminarea of the pro-
toeol, copy was sent to the State Bank-negatived
mem. con. To the Union Bank--rejected by the pre-
sident To the Commercial refused promptly No
further attempts 10 palm oF'thc gull. You must
derstand that the penalty for refusing 10 come into
the arrangement war, war; to the knife against
the dsebedient institution. The City Bunk yesterday
morning, on its part, declared war; It. sent sine
q,sa torthc Citizens ad 'Serng to Encouragement
of the presidents Sunda ylas and odding further
that unless the Citizens made full end fair state
ment of its affairs the other banks she would not
be admittednt0 junto. OF course she will not sub
rat as there are some stronge things relative the
Lizards, OF: London and Paris. and Hope & Co. of
Amsterdam, that would no. do to see the light 1t is
said that not even do the board know any thing of
these matters. Mr.. ForstaBis second Biddle! The
result of al this will be tia union of the American
banks against the French institutions, and further
depreciation of our paper rssney.
Nothing further from Mexico or Texas.
New 9RIEANs, May 22.-MoRsx SpEcIE.-Tha
schooner Caraib0o, arriveitoday froa Havana, has,
brought $4,000 in specie, 10 sundrysmeIchants
The lsngth of the reporaof The Chamber of Cos,s
merce, held on Saturday asst added 10 it's being 80
generally disseminated Through tae columns OF cur
morning contemporaries renders UNNECESSARY that
we should publish it.
The object Of the meeting, hOvnxeG it may be,as
we'll 10 state IS that geld and silver should be dis
pensed with by the government FOR the payment Of
duty aonds-that if the governments will not hes r4en
to ths voeeOf the merchants, it may lead sceaes Of
disorder violence, and resistance 10 the laws, which
the government ought 10 av0.dt-it is recommended
that the Banks adopt cancart Of action, &C., that will
insure mutual confidence among themselves and the
public and enuble thom TO aid the commercial COM
muaty-that the crsa!t of NO. house ought TO be i'm
Paired that does not pay its Custom House Bonds in
SPECIE &C., and finally that anational bank SHOULD be
established.
Four sloops and aschoossr of war, undsr, the CON-
mand of Commodsre Dallas, have sailed tsrdhe coast
of Mexico, TO demand the release OF the American
vessels captured and the payment of all leases which
their detention may have accustomed Courier.
MONEY MAsxET.--CrTY, MAY 23-Things are
wearing the appearance Of an open contest between
the am ous hnancess Of the down town institutions
and the creates part OF the American banks II is
high time that the dictaon of these asprans be put
a stop 10. What shall any one bank take il upon
herself to say 10 her sisters in the proud and mperi
Gus lingunge Of superior? YoM crcalation, ladies,
shall exceed twentieth Of your capital paid
in while mine shall be million. You shall issue
post notes payable in specie when direct If at any
time previously TO the appointed period for esHmpT
lion, shall choose 10 resume you must pay on de-
mand in specie all your stamped notes. The notes Of
all those who do not submit 10 these conditions, shall
not be taken at my counters and will wage ever
lasting against the coAtumacious bank that shall
refuse 10 come TO terms We repeat have ah;ngs
come to that pass, that our banks shall tamey sub
nit to such tyrannlcal conduct? No. Ii becomes the
duty of every institution having any respect for ITSELF
TO oppose with all lbs might this would be money
king. The high handed course of this second Rich
ard for long time past has been almost in,olerable
Nothing will care his penchant for reianing but the
union of some of our Rcnmonds. Oh how our city
Institutions want some controlling influence to re-
press their chickering's.
As TO money-dont mention it. II won't bear
thinking Of The metals are pretty much stationary,
and city paper appears TO have reached its minimum
Sales of produce declining every day. We
want supply of flour from above, when The Sll
chnps will soon change their tone.
New Orleans viii be stationary till after Congress
meets. The daily story will be something like this :
Weather sultry-sreets forsaken-brokcn merchants
paying their debts slowly-banks doing as we'll as
they can-Second Municipality making money.
The approaching kick-up in England and France
will carry with II some OF our merchants yet left and
PROSTATE the French banks and score or Two of the
French houses. This will serve to var, the sum
mers monotony - True American.
esterday, we received the Houston
CTexas) Telegraph of the I'd instant, which although
not late our previous accounts from that place
contains some items that may prove interesting 10 our
readers.
The Telegraph ir commenting on the large sums in
vested in the public works, banks, credits and
institutions Of the United States by Great Britain re-
marks that it wishes that only a twentieth of the
amount was invested in Texas, as that republic
would soon be enabled to release Zacetecas and Cali
fornia from Mexican msrule and leave the United
States 10 calculate thc expense OF the annexation
Texas, Of the justice Of her cause will take
the advice Of one Of her patriotic martyrs" Go
AHEAD"
Emigrants now entitled to GAO acres of land IL
single men, and to 1880 If married. With such in.
ducempnts all wha y0lBe their orest sbo,d ava,,