The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-01-07


:. ,,oo.s.., "A remarkab document has just ocenre
- ss--I,--,, which has already begun To exercise
.,.t .aence ar the minds Of capia lists who look ane o
than eir nexhbns ID report made ny inc - ~
Treasury Of the siaiemcns Of fran iem OF ruDhc money
@ since the asd June for the fupose OF executing uo
AZ dste M resaat ng the deposits" Thi pap I'd vespes
M ~ machinery efthe Department. and covers The
ground ~ the space nearly awhole year
.~ioning with the 9Th ofJu 1886 the Department mas issued
DrnNs 10 the number of 1897 covering amount Of
ss as which been veln from bank to bank since
od Up the 18th Of last month"; s25l2s2s5 Co. have
been mid and cancelled leaving s2slooco which aii cue "
tween that date aud the month Of May rext .e,,
In this remarkable deyeopemeu we find that large m
nhc e,oney have been ai sered nirn obedience 10 'e
provisions OF law without ercnce to TN s
the season ofthe the course OF r NJ hid
these tyanssers, first developed IN inc . oa II
die. 4 now nade clearly manifest MI n'ue' ~ = - ia
1.s 80; c a. the syste W Of Mr. Woodbury. 1t was me
duty eG.he secretary the law ana ne nnu no %
-. L. transfers US United states Bank formerly uu 70
Ia g. ~ SECRETARY not bnsed on COMMERCIAL cpeat ohs -"
i " hi,rarv amount Of the dcpo in each bank To'
~ the ca,ita stock Of that Bank When M Bddie 'r
c,ly made h,sc transfers he YVES MOI restricted ny c
,ops He has the whole commercial hedbeioe nm MOI OWN
~ scyearv The naney in the banks The law was 10 DC
had he the of knowing the course
fde a. Mr. Bdde havehaa at tie head Of ageat com
erc with branches extending to every pa OF
the country.
The arbitrary of III public contrary to the cur
s, ~ prcv out of deposit law passed by ignorant
and Congress The executive comparatively innortn
Such being deliberate opinion W. are satisfied that IN TINS
report we see the real cause Of the PRESSURE eses
clear indication comfort be expected while
this operaon il going Orig nay the specusons and
trading in public lands filed the Treasury but if he money had
becu permitted quietly there would not have seen so long
ansso continued pressure in thu money market
- famous Legislative operation OF he great h1anciers ofCon
gress began in July In about mont heres the pressure
began The ira nsfcr OPERATION and the sill continues
forfeit the cuos papers Wall talk ~ they please when mo-
2and centa month there can be no ease - money
market Th, transfer ration continues until next May when
il censes Until April eeabouts, 10 may herore reason
ab,yerpect the present pressure 10 continue
Accord nyy yesterday stocks were vev hucua'ne some
going going The large and shewd capt lists are
not the cause which still hang heavily the money
market. Th.re this moment probably Ufeen nons
f,a,sy drafts omdfuriy They vii not reach their
eliminating point till May Until little before that
must bescarc The pub indeed in the banks buhey
dare freely if were entirely Arrest or subject only
TO the ebbs and flaws u commerce
Thus more and more let into tho secret causes of the
The best thing that Congress donf to give
us facts and folly cannot mend what lhe igno
rance and folly caused We must trust to the natural progress
of trade The general curamen Of bnsnes-the cessation Of
land the abandonment Of visionary
modes Of rich all be reqiredtc set US right again
statement been made that the sale Of real estate,
under the direction of r. De Peyster brought Si6so0 No such
hing TWAS boughtin.
Prices OF Stocks the N York Exchange. Jan.s.
u g. Bsnk isy. IS, Ohio Trust Co ii4t. Il, Iai Ist,
m nee ssS H sshn Sc ss. Mohswk sii
b Of ~ Of N Y. 1891, IT, Harlem r. II. n, 81,
Morris Canal Co 100, %, J, st. ' rr-"n n, 64i4
o. - N u ,ston Prov. X. 1864, 4, 81,
N % NJ & r, Bank, 81, ufica r. r. Ias, 20a, ~,
NJ o. City Bank s7A Boston Wor II. X SO, S, Al,
N r. BaDk, i0s L. II. X. "a Al,
kentucky bank, $751; o. I, Q, Canton Co ss,
r. Trast Co. io4h At. "a,
pncss ar stocks at Philadelphia. Jan. s.
u. 8. Bank. nae, Ht Del. and Hudson, S. ~. "a,
MARRIED..
On Thursday evening" by the Chase Mr.
jamin c. SIN IN fSmitown Lsng Is and to Miss Jane T. Mul
ford Of this city.
DIED.
On the 9Th INST Mrs. Mary Cams.
tSundayD morning ocock her late
reaidcnce $50 Fulton street,
On Thursday evening after lingering Illness Ann, wife Of Sa
nraa 1ssso.t,es. ~. a $50 g.. -,
depce 90 Crosby street.
On Thursday after short but illness the 22d year OF
her are, Julia wife Of Theophilus n. poomer
On Thursday ateno0n Rachel r. Duando, daughter OFF NJ
r. Duraado AIRED % years
Faucra this day 1T u o'clock from No % Wooster street
on Wednesday, Philip Rysaer, aged 50 years.
On Wednesday, Richard ID. Cassidy, aged 10
MARINE INTELLIGENCE.
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