The herald., 1837-05-11
MONEY MAR TX = IT.
Thursday, May IL.

The compete-we have at last found bot
For days banks have been driving before the
gale they succumb altogether and run ashore
at once Every bank in New has suspended specie
The three banks the National the American the Man
haitian which did the specie suspension league on Tues
day night came into harness yesterday morning. prodi
gious crowd gathered Wall and filed full all the
morning.
We begin course from this day forth Prices, values,
specie, paper Stocks goods all less disturbed in
previous rates appears that during the last days
Monday and Tuesday the drain gold and silver the banks
amounted to s1 100000 They vaults
about s7,ioO only. The currency is divided into
sreas-the OF paper the other of gold They will
from each other, in spite efforts made make them
equivalent dollar for dollar.
The Board Of Brokers met the usual hour Stocks under
the aspect of things per United
States lo being nearly per above the of
Tuesday. resolution offered by member make the
contracts prior the SUSPENSION payable in the bank
previous that suspension One OF the members whose name
we have, got upon his legs" Gentlemen said he this is
making Illegal payable in currency that also IL
legal We understand that by another the Board decd-
ed that the paper currency OF today will be taken in payment
of contracts Can these wise make paper money! not con-
veabe into specie equal gold and silver! The whole board
ought to be shut up and closed up and nailed They have
been one OF the main engines precptae the present Crisis
npon by boatg stocks and basees tancies Stocks IKE
beef and pork ought be sold openly and above board
right have few venerable Jews Christians, win he prncip
les of the holy people, club together call themselves Board
and put prices any mans property The thing is usrpa
hope teach them These are times to begin at
first principles.
Among the banks business usual. Generally all
each others in payment Of debts There
a that the Mechanics and the Fulton notes dis
credited by the National and the Manhattan but inquiry
did discover its authenticity Al the markets and in the
daily transactions OF life the bank taken usual
There however great deal of discussion and uncertainty
about their ultimate value The losses of the Mechanics Bank
by overa and brokers paper said be s4ooooc Again
believed that the government depoes will have the prio
ty in payments to be made Specie is already premium
and it continue RISE Paper will be valued according
10 the stability and integrity OF the managers each particular
bank.
At IL O'Clock there poinle meeting
Exchange James g. King made speech begging all
tain each other and particularly requesting every take
the notes of every bank in the city, We there few
who would refuse Even the locoiocos will many of
them as they can lay their hands upon
The banks began business the pan-bu all is
present confusion and disorder Having violated their char
tes by ar act osuspeon they entirely in the hands of the
Legislature Several Of the leading members Of the state
ment are here perish perish credit
t the issue OF their principles and doctrines Unless the
legislature by specials the SUSPENSION all
can be proceeded against by the process injunction
Chancey and shut up in ten days. At the end of nine days they
specie payments day. and then again
fresh for another period.
Yesterday merchant called collector pay bond
of $4,000 II Directed said merchant "by law,
pay this government bond into eciepayng bank There
no such bank in New York-what do ?" Why, real
y, said the amiable Mr. swarwout "you must ask Mr..
Price" Well, but" said the merchant, ~ a claim
against for debenture bond for $1,000 demand the spe
cie" To this the collector demurred but the merchant
insisted the specie circular still in
the city there great difficulty making small change No
bne will change s5 note take half dollar of it, Why
viii not the Corporation issue few useful cent cent
81 old style shin pasters We believe oprsef shall have
70 UP shinpaster bank Little Wall street, help
cause little We have specie than Of the banks
and devilh sight more capital than Others More specie
coming into the counywe wish would come here $500
specie arrived at Philadelphia in the bark Valparaiso
Valparaiso.
points OF law and equity and unes. position ann olvency
are fully placed before the public their rapidly depre-
cae compared with specie The OF every
worth less and the legazed they may
continue 10 be for time The following
Hent OF all the banks in this State =
dggresas tie Banks oftis STATE v York on
the Isl January, 1887.