Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-01-12
M u N T. Y NJ A IL X + n.


The controversy and excitement the Of the
banks aad the cement the currency without
any abatement she raised these institutions for
believed proceed from SPECTATORS overta
ders or those whose credit impaired. II which
hot ne denied that money good security never so pen
~ as Is at this The loans has fallen 81
and per cent AHy in good business who present
unexceporaee paper the banks, readily gets discounts
know cases where discounts have been offered by the
oan Yet among the suspended houses those who have
not been for nes there great scarcity OF mo-
ney, and no means of getting
One OF the principal that oucry against
The banks TO increase is the Iuinous losing
business transacted by all the Wall prints. All these
hicie are united in crying down the with
OF repoach deep that the ocoocts Of the
The Courier" the Express" all joining a crusade
agans, the bank curaimens why do the banks curta p
One OF the principal is the good offerings
The banks would be glad this moment to discount mere
than they debut they get coed security basis Of
these discounts The Wall prin having by the bad
tines neither credit confidence
get the baskkence the cry against
valuable commercial establishments which have only at last
returned to management based s.snd mercantile prnc
pies
sowh the cry about the resumption Of specie payments
Ihc banks OF New Yors be said have resumed Their
paper only "a To 2per under specie
would remove the difference and place two curr.nces
al par But what Of that Although the backs Of this city
may IN actbe considered having resumed ii with
thosee any other city The bank currency every other
10
standard How tbs difference be removed only by
fs We doubt whether general resumption It specie pay.
mens can take place In several yenrs Nobrg
bring the eurrtncies Of the southwest par but rigid
talnent OF suesthe payment Of dsbtsand coming
ward Of several crops
But this is the only obstacle. Mr. BilJle believes
that no general resumption take place. till bant is
eharteredsy Congress On this belief he his associate
bankers OF Philadelphia act They will not Their
agree TO general plan o. resumpcn ill that point tested
by future pol ca results The this policy on New
York IS therefore peculiarly injurious puts bride into
the mouths OF banks and keeps on the start
without moving Mr. Biddie policy c,ssilneHi,
Every day large Of those who garements
without due calculation OF the effects Of these On
the Currency therefore placed In the position the Wall
street newspaper rcpretor and feel effects Of contn
ua curament But on good paper and security
money Is quite plenty.
The small bill has pissed the House m il masses tbe
Senate and become law will money market in
this city TO Of those classes Who cry only effect win
be 10 drive back all the small o New England
and m It's acc with that Of the North River
Safety Fund Banks Few Of city banks these az
small capital will avail themselves OF L. The country banks
viii epoy all the benefit About soeoeoa OF these bills
now circulating here will be replaced by SAFETY Fund poe,
This viii cause scarcity Of discounts pro dealers in
New England, and increase the ability OF country banks
TO give their dealers fresh fscies II will AID aour aea
ers and spectators much
We have Governor Evereus Message to the legislature Of
Mssachssst II is imbued with prseipcs ard lust
pay menc-
while the suspension continues and con unty conse
soesy whou The means Of bringing the condon Of the
esnss to the only sure test worthy Of your consideration
~helher aoi expcdent, that monhly statements their
should be returned TO the Office OF The Secretary OF
sste or sone other department Of the tovernmep This
provision would all times useful Legislature and
sec.s make the returns ssens % se lesss
~ tme ard The nature Of the loans
might cheek the aPplicasn OF bank 10 improper OBJ
Jects Il eculation
No ether within competency Of the legislature
occur calculated TO hasten the resu piicn of specie
sNmens The at,nment CT tina, desirable object de-
penss en- two conditions VIZ the cessation Of aemsud for
pec'e Tor oeign remisncs and the Of confidence
% so.s The mrs, condition appears BE- srsady uflles
ne sccond s Jar as the banks concerned, viii depend
any upon steady pursuit Of system of reducing their hs
pnue " this thy ought te me 20 be sustained
~ be voice ri al good citizens emphsticsy expressed
ake the greatest satisfaction expressing ue belief that no
mel ts"
sucb bis views and the views Of Massachusetts We
doubt the accuracy OF belief Of early resumption Of an
the existing throughout the country. Fcsom~s ki-k
there w,a Be general resrpf'en Of pec< payments ~ less
Ssr e;sh ycrrs. We prove The contrary,
sales ss the stock ExchnBge.
THussDAy, Jan. Il-i2M.