Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-22
NJ ONEY MA n X K +.
ThursdaY. Juno a.


States Bank sghyoherwse there very little atera.
ton in general current Of Specie pen
tier certain amounts of having arrived from Carhagena,
South America; and also from interior OF the country
Paper money nearly at the old rates. perhaps little
probation has taken place In the stock market generally
very eis doing The currencies creating two
prices for every aceo sale and conumpoaa specie and
paper price.
The loanng of the surplus is now taking place
throughout the several counties of the In some couhes
fears expressed that will with dhcuy be iound
No such thing We have doubt but can be all loaned out
easily enougheaer than can be collected again In
this county there be loaned on security OF real
estate We lean that applications have been made Tor
$600 these applications principally from the upper
wards the Commissioners restricted from granting them all
of the upper INDEPENDENTLY the fifteenth have
applied larger than asto their share-the lower
The first ward applicant for little or moth
inp-te second less share The Commissioners will
ceye applications next Tuesday We have doubt
however but whole amount will be loaned out good
security The question whether Congress will
session whole surplus in consequence OF the failure
e the banks the arrangement of the currency they
should it further train Of disasters .hout the
country.
In foreign affairs tranquility increasng 1t is now believed
by have been from Eng
land foreign exchange dealers have been surpr
find bills paid maturity that they had gave up for lost
Among fortunate houses Of George
Grwold and Prime Co. mentioned, whereai very
glad find that things better than expected The
questions the minds of close thinkers "what effect the
suspension Of specie payments will produce in England Will
destroy the credit of American securities Will it
shake credit all Europe! Will disgrace before
the commercial verdi"
These questions only be answered by future
At home, in the state Of general confusion
The Board of Trade this city has issued the following
document and sent it throughout the country
CRcuLAR-The Board of Trade the city of New York,
beg leave to invite attention the alarming
the currency and exchanges Of the nted States and solicit
1t has become obvious fact the which
the ae their and
aton o universal and equal value of constant aad
dsordered inerpose complete be.
different sections of the Union and threaten ruin to all
effect Of these evils all the great a Of our
We leave them comment on themselves and hasten to
e BE the % e no
control of the Banks which furnish all the
Changes That their fundamentally has been useful il not in
dspensaby willingly sdmied but to their safe
government charged with the Of circulating medam,
aegree Control their For this purpose was pian
edhe National Bank which, since the foundation of the go
during inter a when evils produced by its absence
snog ~ the of he an
Rank United reesabished its credit furnished
in s e % Of
s aod E S %
could retrieve but the Of similar and larger
the have become involved again
ntea confusion and the whole country has again reached the
The question forces itself the mind of every
by what the restoration can be accomplished! The
hesitate orecommend the easy
and indeed the only expedent the return the well tried
sary must be manifest Within less three years according
1 ' q he Banks from
hundred md weay millions and the banking capital has in
Here several hundred banks with indefinite power
issue asa er @
control each other nor the state con-
this mmeae power upon every property depends
tor T. as gS sys *, se .s n ms,
appears impossible has Terminated in total derangc
Treasury over banking institutions, end Even the
a possible
head Of the Treasury there peculiar fitness in
department for the superntendence OF banks and that
Of the country appendage subordinate department
Of the ~ then sea ssa' e
suy 1909 and he said Of it, that the State Banks could
States nor desirable he ad that general govern
should in respect t. It's own operations be entirely de-
National Bank deriving It's charter from National Legsla
a. a bo rom Interest," and sense O. duty to aor
ohe Union every assistance within power The same system
he declared that the establishment Of National Institution
Psse s sG@ 10 % %
Tor the dsordered condition 81 our circulating medium
sury proved itself Insufficient there remains only
establishment Of National Bank, which has this
recommendation tat during forty
OF lis succeeded perfectly, exercising that autay
Banks which the check Of
each and the security OF them ALL i not evident nj this
moment the Bank oi the United states had been CONT
nue pecunay affairs of the country could not have been
IN their present leranged and miserable condition.
This brief exposition Of our views, ~ relation 10 the pre-
aent of the country aud their remedy,
earnestly your immediate cooperation neaorazng
Great National Bank and return 10 that system under
and currency ~ the Union have been 10
long prosperously and successfully conducted.
NATHANIEL WEED. President.
JoHN W. LEsvIrr,
SiIAs Brown, Vie p,e.ala,ts
GABRIEL Y. Drsosw,Y, wv
MARCUS WILEuR,
THOMAS DENNY, Cor Secy.
JoHs Ely, Rec. sec'y.
New York, june J, 1857.
The remedy proposed this paper is the proper one-but
Ne have no hope reduced 10 practice by Congress
Nothing short twothrs Of both houses Of Congress can
create bank in President Van Burens constitutional
.srupes present alton Of that venerable body
afblockheads expect such majority OF men OF sese-
The prospect therefore, DARK and gloomy in the extreme
The present bank NJ forever Every day
We are the hanks can eco-
xer their former Standing The elections next tall VIII
turn on their til. banks expect scir sen'
on viii receive the sanction Of the people Never Tue
next satures In this and other viii undoubtedly re-
fuse the Ola single day their already violated char
,ers THAT viii seal their fate
n il proper, therefore, Cor all business here and else
where to at hereafter and gements, with The