Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-09-14
m d N h Nj A II X Il IT.
Wedne sday. Sent. l3. q p. M.

money stock market continues in the sane condition
yesterday. Not OF my rah-
flat and dull. The general impression be
that Congress wldo nothing The point be
tied further extension the merchants t.eir unpaid
bonds This will probably be agreed TO by all parties in both
houses. But after morse of relief the tug
The Treasury empty. II is than empty-it
cent already and by the close Of year. this
deficiency will accumulate to S0ocoOco To supply this def
cency Of two things be DONE the will
be bankrupt cernered" any thing please First, they
the repeal of the law distributing the fourth nstalment
Of the Surplus Revenue, amounting 9eoe0e Secondly
ii that fails they will require issue Of equal amodnt
Treasury An opposition the first VIII doubt-
less be made and possible may be defeated Tke second
proposition Of Treasury notes, will like OPP
position, and it is highly probable that il viii also with
similar defeat
BY this of policy, the government will lie left a
pidaied than this it seeing
highly probable il will be
the meantime the country gradually recovering
severity of the revulson and in spite all camor Of
politicians, trade is fast reconrucng ITSELF Specie still con-
nues flow into the Today there arrivsof
$500 specie from Campeaclyyeerday Philadelphia
arrival Of $50 900 In New Orleans, the specie
fast flowing in At Tampco, July 20h 81 600 Lad arrived
from the nteriosl0oo00 for New York. (already arrved
S50oceo for New Orleans, pa which had arryed the
balance under English order.
Thusit will appear that specie moving world at
a very rapidrate.
But this is all We informed from the bes authority
that there probability of greater of southern pre-
duce being imported here the ensuing fall and winter than
or there in previous The high rates OF dome
tic exchanges, OF the south morrill, 10
lqrdae debts by shipments of This staple, OF the
CROP will become greater basis Of domestic exchanges
than il
1t will be SEEM therefore, that the banks are in fair way 10
be superseded by the natural action Of trade itself
The following letter, received FROM Philadelphia yesterday
gives curious particulars ofthe condition the banks Of that
PHILADELPHIA, Sept Is, 1887
Excluding the United States bank which will end being
hook" exchange institutions its debtors the
sixty millions Of dollars being squated all
universe, for your Information offer you
the condition other OF issue Pennsy The
people OF this Union will be astonished know their ngn-
compared with the annual sale Of the agricultural and
mineral productions &c. Of this State, without counsg lands
or houses which $lc0 The Pens
sylyana would exchange day Of gold add
silver coins which than the State New would
fetch by wholesale retail irredeemabe nplasers
The returns the banks of 4 November 1885, State
officer
"'s's' s' s SO s s' O.
3ao,oes
chants notes 100000
Up 70 August 100000
on i, september, 1887 ,
Thus perceive the Philadelphia city banks
legal representative coins that all other
issues only made in payment the depoors which may
W
in their collections from their old discounts which
about s22,oOoOoo
The capital the country banks SAIL ooo and their
and discounts about e8o00ee The total debt due all
banks about s3oOcoooo 60 per by city traders per
by country dealethe whole number Of debtors the
banks exceeding 5000 citizens in State that poll 2o
600
determine the important fact that the 4t November
1886 the bank currency Of Pennsylvania nett
Sl0o06,eoo
Specie basis, s3s0,oc0
We esti mate that the ist September, 1887,
Specie basis, 30SoW
The use Of which facts consist in establishing the quantity
circulating medium required in Pennsyvans, when trans
made prices which do represent the mania Of
ignorant Spectators ho reject the only basis OF legitimate
and demand does exceed seven nil
Hons Set down, then, trus. that seven mliens OF
COIN notes representing Them viii discharge all Tie natural
debts contracted in Pennsylvania.
Thee made newspaper comes from the 900 or
4so OF bank stock and land having instinct
know that IL they again get bank Circulation OF
millions they be devoured with the interest pay
able their pledged oct And lands valued In JAY 1885,
at one hundred mil ions dollars which wD exchange