Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-09-08

M N - u M II x T. II.
Thursday, Sept. 5.-6 p. n.
Aoneary anars are getting and confusion An
hopes derived from the action nj are thrown
ase as utterly deusive We shall National bank
any system under the legilasn congress TO restore
exchanges Or 10 bring about the resumption Of specie pay
The general belief that congress will debate for couple
Of months and law those proposed By the Pes
dent for the entire separation Of the narcal action OF the
from all banking Institutions but even this as-
staining from Legislation, during the present session. will De
cto be equiv the by Exc
cutive.
The Postmaster General his conviction that he
carry the business OF his department. specie pay
men without any further aid from the legislation congress-
He receives nothing specie for posages and about
bshng system of exchanges suitable to the wants Of the
department Icongress no law, the Treasury Depart
men may organize itself similar footing Since the
suspension specie payments has been in fact
ton OF the from the banking insuonsand
attempt organize department without the
d OF banks Three species Treasury Drafts have been
sorted to- and although they less under the specie
value, yet they invariably higher than bank
per- OF these several species Of drafts probably many mil
lions have been ned-bu they readily find their way back
the Treasury Department
We ought therefore, separation Of Bank from
Stale from the 18th Of May, when the suspended specie
payments.
This has been gradually going on since that time
and 10 the power body to stop its further
progress II Congress should not organize Treasury De-
parmest the plan recommended by the President thev
wileave it, at least, in its present condition. the whole
power hands Of the Executive, done in t of
Spleen when the depotes removed from the United
Bank in 1885, AT that PERIOD Congress would not legis
The state depose banks for couple years or more
the consequence: The Executive managed them
choseand this policy will probably gone over
again.
parties Congress should disagree the proposed
will therefore leave the existing entirely in
the hands Of the government
this view ofte their possible escape from the
impending dangers which have been anticipated by COM
mercialineres The gloom therefore, increases ter.
rble OF things expected during the coming
To-day the specie market inactive purchases
fiat and dull.
Specie is also still coming the country. By the last
mails that ga received New Orleans from
Tampco.
Some the New Orleans papers very angry because
exposed the roenness OF their banking
systems 1t is very feel when touching sore
spot vulgar and nsipd personal viluperaen will
validate reasonngs by which have torn the
veil from these bankrupt The compacency with
which OF these papers apply the terms vrtueu
spectacle" banks and brsken SPECTATORS is quite
amusing For the healthy business and sound
commercial New Orleans have and respect
towards mpuden broken banks rotten SPECTATORS and
| saucy bankers unqualified contempt
The following is a from the Mobile Register
showing the condition OF the Alabama banks.
The banks i'm the State, seveneach branch of
She State Bank being subss ntiay an independent bank The
gomery Huntsville and Decatur rsspeci,ely-snd The Two
private stock banks Mobile VIZ The Bank of Mobile and
The aggregate banking capital Of the State employed in
these banks 49, 500 OF this the
The Branches At the beginning
| OF June, was as follows
S Seiss a1 .Heo'"0' s sssssss
The State Bank and branches on this showing have sbou
nine dollars Of circulation to one OF species The note of the liza