Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-10-18

Tuesaay, Oct. ~, p. M.
The the and the solvent and sound per-
tion ofthe commercial csnnuniyare beginning 70 understand
each other In very midst Of the mist caused by Political
agitators Even the United Sank, which haughy
fused before Congress met 10 take steps towards
sumption Of specie payments t. publish Of lis
affairs has gracsusy condescendedto make TO Har
rsburgh and permit these be published in Pha
dephia paper Since the session close
Of Congress been fully ascertained all the healthy
elements beginning plausible Of action for
The reconstruction Of confidence and prosperity.
The government has issued the following notice:
TREASURY DEPARTMENT, 18th Oct 1887
has by an act approved on the 18th insaa an!ho
odoars denominations not than $50 each receivable
IN all payments to the United States, and bearing interest at
signed, for purpose eesing such Of the
public creditors not choose receive said notes.
offers for the exchange loan OF them for the currency of
The United States - ~
deposited and the loves, or interest be borne by
Those who receive reply will consider it as sufficient evil
cesce that their offers are not accepted.
LEVI WOODBURY.. Secretary of the Treasury.
In framing this proposition, Secretary Woodbury. has exhibit
ed good deal and kno weage of his position Had he
fixed the interest himself his issues, would have been ia-
psssble crafty party OF fnancerbu by assuming
the position he does, offering the par exchange
for specie specie paying bank paper and leaving the
chaser fix his rate OF interest," he leaves the RESPONSE
biy others than the department Frcmthe offer makes
and the position he should suppose he might
ceive offers at par varying from per interest
made him. 100000 95 per without interest," which
would be equivalent per and small fraction par
with interest at the
The question now is what of offers the Secretary will
ceve How much interest he will accept! Who will make
these offers Will the brokers private capitalists do so!
One of the greatest operations be effected this crisis
the return OF confidence If reasonable degree of haro
ny existed between the the banks and the CAPT.
tasts general return specie payments could be effected
simultaneously, with the issue of the Treasury An
bray demand the whole issue Of specie
ing interest," could be effected without another shock
The operations of mixed curency-but is very possible
to arrange the parts of operation udciousy
the demands Of the government and specie pay
meRs at the same moment. II requires only sklfu
enfc adjustment Of tme interest and places payment
very important crisis is hand If the government and
The banks can negotiate rational whole monetary
concerns Of both be able begin confidence
At this moment there foreign demand for specie any
magnitude The bullion brokers in Wall the
oregn demand has ceased and banks the
arket purchasers 1t very evident Also great
proportion Of good banks condition return once
10 sound principles provided the issue Of Treasury notes
made with harmony aRd the temper and
tone Of the times The following tables exhibit the special
condition of the banks in this city, Troy Albany