Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-03-30

he agitation continues approach the day
assembling OF the Bank ConAenon To-day stocks fell from
70 per cent on an average In foreign sxeha little
been done, Is the packets will sail till Monday few
cash transactions have actually made at las t
1851 is the lair opening price Saturday will the principal
foreign exchange be transacted The probability that II will
again s seems soag considerable anouat was left over
by the last packets asd the great shipments coon still con-
unued atthe SOUTH will likely large quantities into
the market besides what may be expected from Canada
We have seen commercial letters dated Charleston 24h il
aS which stated that the agent OF the Uated States
Bank had purchased 5ee bales Savannah the Bank had
also made operations Its highly probable
the foreign bills these purchases sold by
the United States bank agency here During the latter par,
OF sex April and May the first of the beads and post
notes. ISSUED here In April asd May 1887 become due and
large portion were made payable in New York For some
time past therefore, the UAed Bask has been sccuns-
ssg iundshere TO sudaie those engagements To this
he attributed the rejection by the agency here of snv
per payable In Philadelphia The large made 81 stock
and the depression price, have BART a
sea from the necessity Of the Banks making efforts meet
their bonds and pest notes. Issued during the svuson OF 1887
"a part which becomes due both In Losdon New York
In the course Of the pexttwo or three Uonths
To the commercial operations ofhe United States ank ana
the southern state banks may the whole phenomena OF the
foreign and inland exchanges be justly attributed banks
have retired from the field singular course Of
the scard OF Trade against the Pheax Bank from any
other course.
Our accounts from Washington give strongest ndca-
tons that the subreaury hill win be defeated Indeed among
fnsns deemed dsunet and they beginnsg 10
act on that impression so the influence government
In financial Affairs viii continue TO he his year
psst-hs say, ofs than ssder-entlrev
at the mercy the banks for It's disbursements 1.-THE sew is
Of Treasury be asthor1ed will be the Gem.
mencemcnt Of national debt Every thae ut present 10
howeyer.in state OF confusioa
In Albany the bank law appears 10 be receiving
distinct shape. The provision paper currency
based mortgages and stocks half and half received the
sanction OF the Assembly. This q wide depsrtsre from
sound princples-snd win only give birth d
shisplser associations Banks founded such principles
would not exist year without general explosion The
general bsnksg Law OF Michigan, authorizing paper sues
specie has set snost wenty thirty banks
whole OF what called" wldcatmoney." oaei2eoe
Of SPECIE all these banks going As the
specie, like egg. bank In mo,sn tahen or
and carried hil through swamp, q river
sneher In motion, and thus the circuit the state
Such the aste Of chaos In which getting We
depart from sound principles.
The great question In sgstior, the resumption Of
specie paymests and the meetsg Of the Bank Convention
large interests wying procure the renewal OF the
Indeed the feeling 10 rising high that We sbous
be surprised IN pube meeting held on the
matter and great effort made change the peey Of or
banks
Anew resumption bin has been introduced into the .rL.
,ure Of Pennsylvania letter .ated at Hrr,sbur,b 2h
inst, says
" shall be the duty OF al the banks Incorporated by this
state to redeem IN gold or silver coins Of the United all
psy. % . Or Srss, .srs %.s ~
he Used states shall provide ~ law for the receipt asd
paying banks villain thirty days sner nreovrtl ~ .vs
Der snl eapnd Of hs bs.ks W he e Of Neu York oas Boz
,s .. sd ~. .a rss,s Msr oes " es The
probably eone OF en- second rssdiss tomorrow"
Sales at the stock Exchange.