Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-06
IRIS, far 1895. ,37
Other Wall street loafers,

Actual profits othe wall shavers for 1886 81 90 Cos
BY this statement will appear that these gentlemen
who have specialized the dreses caused by themselves
viii begin the 1888 they begun 1886 They were prn
cpay large and controlling directors OF the banks and con.
yed gethe funds for the purpose ofbuyng paper at high
rates Of interest, when Others could not get a dollar
The great point at the day is the question whether
the banks enlarge their dscounts In tins city there is
great backwaness In the banks-oters are begin
ming lean With libsraiy IL is called The National
Bank has loaned out $50 900 than period of the
uspensonthe State Bank 500 o0he Phenx elo0 o0oand
several other banks in proportion These reports
IN the street In the absence OF authentic information we must
be content with approximation The Manhattan and Bank
OF America are holding up and rather cartalng The small
banks up town dealing out in all directions soon will do
From the general appearance of things and in other
states, think highly probable that all our monied ns,itu-
o and leading men shaping themselves for issue of
paper the year The Boston and New England
banks are publishing their statements regularly rapidly
acquiring public confidence preparatory step the issue
of paper currency.
We begin doubt whether win ever resume spe
Gle payments We doubt whether they ever mean 10 do So
The only influence since the suspension which has held the
banks IN check, orkep them their oars general
government The state governments here and elsewhere are
decidedly favorable the policy Of large redeemabe paper
From certain facts and deveo we begin to
symptoms OF like policy general government A
matters shaping themselves certain that the 20
vernment win be utterly inolyent long before congress can
meet itseven highly probable that instamen OF
the surplus revenue viii be paid TO the states.
We understand that the President and the Secretary az the
Treasury beginning be favorable issue OF Treasury
notes, the ofa years revenue thirty nuon The
entire breaking up Of the foreign trade and the compee de-
srucon sfthe drive the government 10 this
policy also much pressed upon Mr. Van Buren, bv
his old associates Albany. The suspension law in This ta,e
and the issue Of Treasury Washington 10 the ,te,, ~
thirty millions would furnish those connected with the marty in
power with money to complete their specuaon and come out
with fortunes The adoption Of specie pocyor the re-
sic payfn hauL
recent speculstions in mid career.
Wa persuaded therefore, from what we and hear that
the President and his cabinet adopt the paper SYSTEM in
some new form, and that they will never recommend
either the creation Of Bank or the renewal Of the
present United states Bank Of Philadelphia paper currency
srapdy hSng itself upon and likely that the present
party power and the banks throughout the country,
VIII netr ne abe to resume specie payments The little dis
position ordeerninaton here and there aiiemp resump
uon y mere speck in the atmosphere The policy Of the
banks and all those connected with the baa, governments,
merchants and traders 10 the voyage %
discoseyan fredeemabe paper currency to copceva-
BILE extent The banks the merchants the capitalists the gen
era and governments indebted each other
hundred millions ofsolars high prices and values They
possess thirty millions Of SPECIE and the rest in pc
per- part Of which i not worth rush. They Cannot Il they
would return to paper currency based specieno In ten
ortwenty years
Such being the probable condition. what effect Of
policy on future condition. Al the time uspen-
sion the hanks had loaned which sl5osooooo
was based on their for sl2oooo s3ooeoooo n
specie Take away the check ofconvety on demand and
the hanks will double their months The effect OF
this will reconstruct business paper
repcy Great fortunes will again madeprces will risewe
shall partiesand every thing viii flourish for "
least one year. Baioot out for The cad