Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-30
~ ON h Y M A II X r r.
Friday. june 40.

trsced great Of Annexed this table will
found published the Albany Argus BY law pubcs-
ought been made three weeks ago. and Why
been delayed altogether matter conjecture Probably the
pending negotiations between country banks have
been the cause OF the delay.
This statement bege highly important consdera-
tons Since the LIST Of January last we have full report
OF the condition OF these institutions till Before the close
of the last session. partial report made of few OF the
banks out was SO meagre confused and unsatisfactory that
no one made the basis calculation in business Not SO
with the present report
The situation of the banks Of this state may considered
under several aspects What TO be their course OF po.
hcy! When will they specie payments What sllua-
ton viii they be of the suspension law
What confidence do excite in the community How far
are they useful healthy and correct business system!
From the preparations that have beenmade and the
the city and the country banks
evident they preparing for of business and
ofpof II utterly impossible for the banks succeed
resumng specie payments unless they enlarge their
much replensh their vaults with specie to ac
qure again public confidence Yet spguarly enough very
doubtful they will be able pursue policy with
The immense of specie active crcua
ton, bota in town an! country spite the ofspecua
tors to pick up and substitute its place with edeemabe pa
per- viii always the banks from extending
TO extent beyond their present they do EXTEND
their will deprecate and more and thus
the chariness of the public receiving such currency In
deed we learn that several of the river banks have begun
deliberate whether charter trouble expense
OF keeping up large establishment
In the city the banks conducted dscreey under
SUSPENSION law, may be able resume, by the showing
OF the Commissioners Report all the country banks further
from resumption Of specie than they In
comparison to their circulation and specie the
are less able to their engagements they
six nors Yet by the suspension they permitted
10 make extensive beyond present quantities
One Of the remarkable features in the banks OF this
State the extraordinary the Ist Of
January beng over in period of6 months the
managers of the banks had began the reduction July 1885,
as they ought to have DONE and the Bank Commissioners
ought have on instead of enlary-
ing il probable that half of the reyuon and
dulen suspension Of specie might
their terrible expansions that originally the
cpub confidence, and in the face this experience
Albany clique preparing for anew issue of
paper money the full of the abornabe suspension
law
Another feature in the the remarkable contrast
between the city banks, forty
banks As compared with their circulation banks
generally could specie payments with toerabe de-
gree OF returning repce and confidence the money market
1t indeed sometimes said that the depostors OF the press
heavily the banks here than the
try Not The Of deposes in the city banks
simply accumulaons the payments that
the banks On the LIST individual depostes
city banks Oil 500 oo0 Yet probably those very deposit
have pay the banks few days after sl5O00oOo
The city banks therefore, pressing demand upon them
except he banks, which undoubtedly the
weakest of the whole from the very fact they cred
tor chat will exact it in specie.
We should all be surprised if the city commercial
banks should be able specie payments
meeting OF congressbu the Al couAtry banks verify
believe that they rotten the i'll
incompetent put themselves in position
payments in specie.
January last the ratio OF the specie paper of
banks to 7now tbs to 10. with expan-
sion beyond any assenabe limit except the Suspension
In addition TO this circumstance these banks TO
the state millions of the
plus funds thus increasing their liabilities aud difficulties in the
coming evenl&
les very evdestsep iese singular aeifopements
that class Of banks which connected the
state ana general governments in the
dapidated condition. Some few OF snch banks
be able support character but those throughout
the country merely the Instruments SPECTATORS and
return to state OF sovency The surprising
thing Is that the city banks should consented to take
these country bank bills deposte or in collection
Ae-x li.tle + doiu. in NJ all