Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-03-03
m u N h y N A II X EFT.
Friday, March e. @ p. VI

The banks eths city have boldly come out and is.
sued yesterday their Preliminary Manifesto follows
REPORT.
New York held Feby 1884, Committee on the
resumption of specie payments submitted the following
contemplation Of the resumption Of specie by
May next aad under the unce, tain contingency Of smn
early resumption by the Bas OF OF the other
adopt all within the limits of their resources
which enable them not only TO but also
already been dsae in that respect, result
S g11s
Guided in the returns Of this the amount OF all the
Ii. e s and en Sd
and The balances due to hs% by other Banks
2. $$sS g. i 81, g issss,ss,
making dmnuon In the liabilities of than u millions
and half durins the year 1887.
Ths detailed statements for the Isl January 1885, render
ed by severaciy Banksto their Standing Commiee show
balance 70 hei, credit ct more !hsn four millions due TO Them
with all the Banks Of the city Ample
appears by those statements have been provided by
the county BaAs the for the redemption Of their
notes which circulate In the city.
II the relative strength Of the is and a,se time 81
ss S e ny m was during the last two
The fall Ia the rate Of foreign exchanges considerably
no exporaon of caa take place and thar preba
bic that considerable infuI nay be expected This fact
ought the spprehensions Of those who
as ali the Banks in the United states now are against oree
dem ,nds, justified in expecting their co operation
easy and safe rcsumpsien Of specie payments
on the par. Of SO of The ether
par: .sa cr Is. 81 The Re
vr OF the balances between Ibis the ether paris
the Union that for the present least bat little dhcutynecd
rate acts OF hosy sshee could be motive
shoudbe no apprehension Of them on our part We trust hat
banks will be able to surmoun all obstacles and before
TIE aoy measures on their part sppsap 70 be-
reduction Of their liabilities eut OF the State and drawing In
rom and 70 each oSer md rei.rn Of rotss which
may ensbe all 70 resume on an sses footing ssd With equal
the COMMITTEES viii submit separate report
eEo NEwsoID,
JOHN ) IALMEa
NV EDMoNDs
wbereupon; the Report unannou,ly adopted BY the
On %ots., Resolved, Thai h s ':Ss ns sSs'1sa
W. NJ. vEsnrIYr, Secretary.
Tbss right-hisis proper-thls ~ll favorable
ton in trade conjunction with the passage the Small
Bin Law there be reasonable doubt the details be
properly managed that commercial Affairs will improve from
this day forward true the law does permit the
issue Of s~ even asst h every bank In Albany, except
Of the denomination Of sos and rces are in circulation Our
city banks will also possible.
The preparatory measures" Indicated by the Committee
also important The concentration ofeur foreign funds
pruder measure rendered necessary by the supposed hos
uhty OF the Uaited States Bank resumption. We are
opinion will be unnecessary Law, compelling the Perm
ylvsns banks TO he 18th Of May hiss Already pasr
I'd the House OF Representatives, rburgh, by alsrgs
majority. This law will more than probably pas. theisenss
Of that state which Is highly lecofoco The United States
Bank w therefore roas Uolr be compelled to resume
emporsneous almost with banks Ia situation 81
things will Mr. Bade take both honor and time by
fcreoek, and lead the way u general ressmpss" he
promised he would We strongly persuaded he will
Every elemcn-every hctevery hing In favor Of such
movement.
We prepared therefore, only the United States
Bank the f In the 6eld expect also the banks Of Bo
ton Baltere Charleston and New Orleans, spe
Gle payments almost simultaneously, mot In advance Of
own. They al In q situation so 10 do
The eject Of those views facts and purposes
already beneficial was felt in Wall street. and will surely
deveopc ewh the opening ofhe sprisg, the breaking up
winter-the wing the rverssnd the arrival OF ~
busiass TO this great mar Of trade.
Great anxiety expressed for the nett picketa Foreign
!. CottO IA ailshic.