Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-01-27
NuNEY MARK
Friday Evening, .Jsnunrv %.

Dur condition Is unchanged. Stocks, specie money and
exchanges are nearly the same yesterday The United
States Bank has somewhat iHprovedprobaby from The an
parent triumph Of Mr. Jsuscns in London Snecie
now ranges from tot premiumeasten bills such as pass
cunehy s. 81 discount The oney market rather qu,t
but still laborng under severe paralysis
We understand positively that Mr.. Palmer with two or
three ether bankers and merchants pro an "wednesday
to Philadelphia for the purpose Of consulting with Mr. dde
and the hnancrs ofha city, the pres. posture affairs
certain influence prevailed to such degree prevent
the other genil-men from accepting mission We learn
further that worans will be proposed Bdde for the
oftha confidence ri which 80 much in want
The first is resumption OF specie payments at an esrv
period IL this should not be aeceded 10, then Is proposed
that the four large Atlantic cities. New York Boston Pi,
depba and baltimore, should into arrange &c,
make the bank currency efeach par in ali he others
and the point Of time This could effected nv Le va.
banks OF all these titles agreeing to rece We each o,bsr,
notes at paying int, for The basnces the pau
which .xss between the city aad country banks Of this
Sac.
whether the latter project will the views OF Mr. Bid
die we know not but seems gaoi first step towards The
resumption of specie payments IL at least give rs
COED currency in the Atlantic cities whatever effect il might
have In the exchanges
part Of the plan be proposed Tor tie acceptance S
Mr. bdde the following resolutions passed by the
Bank comnatsss-
COMMITTEE Room. Jan. 2s,b is3s Alta meeting If ,be
officers % the City B.sss hed on the 2oh Instant follow.
ins resc sto, r,' Were re adopted D.
P.mer schairman made on the 18th INST rni relate 10
G
adoped and that the colts aid rsfsr
e sui mt,ed TO the consideration Of The differ, Boards
-
keolved, That II is the opinion OF this general eo,,r.
that the bsaks IN this city should their note. OF IN. 10
nominations 81 fifty dollars and upwards their daily busi-
mes. ard that The same be adopted fthe Boards agree
TIL. following extract from report of The comm..,,
circulation le suggestions referred TO In the first of
the fore going resolutions: - -
Your committee therefore respectfully suPve. 10 The conc
raj committee the exledency ~ adopting such as
shall induce the several banks tie CITY 10 nay out her oun
notes exclusively combining their pfeen 10 IN, demo
minaion OF fifty doHsrs and upwarcs
BY erder OF tie committee
tsrnedl a. DIpsLr, Clerk
We learn that the Merchants New York Civ and s,,.,a
other banks have agreed this plan The restriction OF the
issues $50 bills Keep them hands Of IN. Ioco
foco. who might bring suits The hanks No bu sin.s
would do such thing We shall see ho~ II works
The great objection the resumption among the hanks
throughout the country, arises from the balances due N,
York liquidation ef these balances resr In the pr,se,
currency, woula he INJURY New yok Of The uboe
amount sccruiEg from the difference Of exchapre-ip, p.
sump on Of specie nent. would equaire the
and exchanges throw the burden southern
sad eastern banks The balances due New York are nro ~
e2ooooc. Th. rates Of exchange favor of New yol
from to 90 ceran average might be 10 prr cor, a.
$4,000 600 therefore the difference would be a. 9eo ~ j. -
Of New York. provided the redemption skc n.ce =, a,
early day.
This siscoses the objection Of all other banks 10 any
immediate resumption ofspecie pawn ents
Al this moment the bans II this state are IN tho hes, eood
uon Of any In the country This viii be seen rom be fellow
ing comparative table -