Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-08-09
ON z Y M A Il X K IT.

TUESDAY Six O'CLOCK, r. M
There general inactivity approaching slight depres
son all round today United States bank shares have
but attributed the demand for abroad being closed by
the departure of the packets The specie market was quiet
but left off firm. The packets, to Havre another 70
Liverpool, have sailed.
Accounts vasy Of specie sent out enc state
$500 OO0-anoher e45oO0o Truth may lie be-
tween hensay $4,000 1t is certain that none has been
entered the House for expectation parcel OF
specie has entered for Importation but during e week
mpors than exports In New Or
leans the specie il arriving oerabe Large
titles leaving Mexico for Europe Some Of opinion that
foreign exchanged beginning to ITSELF and that
10 fact attributed the fall Of bills and the diminished
of specie al the same tme The cause equal
to produce the result.
few DAYS ago the Schuyki of Philadelphia in
the market purchaser of specie. What may be the
object of this tell The Philadelphia
banks the mysterious in the country. They do not
furnish the public with the slightest of their condition.
resources policy prospects
As the session OF approaches the policy Of the 60
begins deveope ITSELF Mr.. Kendall the Pomas-
General here He for the purpose OF com
peng the Seventh Ward bank to sum OF $4oo whch
they received Of the city Postmaster payment of loan
furnished to the late Mr. Barry Mr. Kendall that this loan
was made contrary law and that the bank must refund it.
This anctonary very open and candid in retailing his
views Of the policy 1t from his deveope
men that the purpose of the President and his Cabinet
is to organize the Treasury and Post Office Departments
on the same principles. An entire separation il to be
made between the and the banks The several
post offices and collection Offices to be made the dposo
res OF payments made in specie the The dis
bursemen and expenditures to be managed by Treasury
and Post Office drafts checks the several points, where
the surplus IT. of the
bankruptcy Of the deposit banks the government should be
deficient funds during the coming year. intended to ask
Congress authorize issue of Treasury drafts bearing in
5per calculated that there will be def
cheney in the of for the ensuing twelve
months This void be filed up with Treasury drafts
checks and bills of exchange the post offices or collection
districts.
In New York Of the collected
while only on<hrd is expended This fact will profit
the Treasury and Post Office equivalent to the premium at
which bills New York will sell for in distant parts of the
country On whole collected In New York it Is
calculated that the will make prsht of 100000
by selling bills in the south and the amounts deposited
here
This is the new and Improved scheme government
place Of the depose bank II is the plan ORR
gnaed by Amos Kendall and its first germ appeared in his
Office circular proposing exchange system for the
management of the finances Of that department Under the
and off, separating from bank this the whole
plan the government In respects has mertn 9TH
The custody of the specie deposss will be entirely
in the hands ocerand the issue OF the paper
medium, based these deposites, the hands 1t is
possible that these might in the course OF me like the ia
banks Of Venice Amsterdam, issue drafts
tcates Of depoe than they had real metal Or they might
after the paper currency acquired public confidence make
away with the specie altogether Politicians the worst
managers INDEPENDENTLY when does not be-
long to them.
The government will oppose, for the present United
States Bank that would be available for their inn
mediate The surplus is considered entirely
ahaea but they plan for their funds
Charles Butler T. Throop John Van Buren, James Per
ter W. olcoi Knower Erasus Corning Edwin Croswel
all spectators connected with the government far and
wde covered with engagements growing of recent
speculao Nothing but ssse Of Treasury notes. avaa
bic once be any service such Relief they
before fall winter and baHk under the
control OF merchants by emergency
Kendall and Slas Wright have therefore, devised this
scheme, and II they manage secretly and carefully,
tightly probable il may succeed