Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-05-01
THE CIiRRENCY-R Ranks.

yc dr.
THE CURRENCY BANKS.
The New York Herald of Friday last states, that Anne
rcan gold sells sat Ia per cent. premium-Tteasury
notes advanced Ia per cent Specie StW continues to
fo,c upon from all quarters, every day bringing
fresh accession to already large stock. The Sus-
ouehannah from Vera Cruz arrived this morning. brings
about 81 600 Specie has become quite drug in the
market We observe Of the large amount OF specie ar.
irving here almost al that coming from England is in
the shape Of gold. The silver principally from
| South America, and is very small proportion OF The
whole amount. This is the effect Of The specie Law OF
1894 The declaring Of the long suspended dridendS by
some four or five of City Banks, has put quite
cheerful aspect the state Of things in Wall street
Capitalists seem disposed to invest: and eccry thing
seems siocy Int surely TrSaintng rs former poSti'on
''At New Orleans, perceive that Mississippi bank
notes were not SO heavy us heretofore
G. We understand that from this city, MIR Bidde has
been offered large amount OF specie to asss! him.
should he require IT, in resumIng specie payments;
S5G0,OOO Of this amount is offered by one h,m' rtnr
! Ward 81 King. Whether Mr. Biddle will think it adj
visable accep the Offer yet TO be ascerlaned Tx
change OF PhIIade ph!a has again improved The Pin.
! ladephia Banks had meeting on Wednesday, and re-
solved specie payments on all sums under one
doiiar This is the first under Mr. Blddes sug
geson of gradual return 10 specie payments. They
therefore redeem their fractional bills.
The same paper Of Saturday states that "the payments
of the bank dividends mparta cheerulness and aaciy
10 dealers and also tend greatly 10 the relief OF the
ket the business seems longer in the hands Of bro
kers excusve y-seveal speculative buyers having APP
peaed in the market, and also disposition to invest IS
| manifest
The following article is from the n Y Gazette Of Sa
tuIduy:
"At meeting Of the officers of the City Banks on the
2lst A pril ii was unanimously
"Rcsoircd That the OH day of May next be the day
fixed for the resumption Of specie payments by the Banks
of the city Of New York
ave are authorized to say that, although the 9Th day
oil MAY next IN. Gay 1 "a oe n,J ,hs;,
notes Of ten and under ten dollars; and That many I"
them do now pay in specie all their notes and obligations
when demanded They have also unanimously agreed
no, TO issue from this day any notes oil the Country
Ranks Of this State and it sill be by the circular
addressed TO these that the city banks sill after the 10th
Nav cease to receive in dePose otherwise the notes
of any Country Bank which does not pfovd> Tor their
daily redemption in this city.
CIRCULAR
Committee RooM !
New York, April 21h, 1883
"Sir-At meeting Of the Banks Of this city on the
2lst inst. 1t was
hills of the Banks Of this State will be received by the
CITY Banks, except such as shall be redeemed daily in
| this city.
By order of the Standing COMMITTEE
| GSiGncdl a. DlBBLEE, Clerk.
! To the President of
The Bank Of Albany commenced paying out It's own
bills on Monday last. go
The Legislature Of Massachusetts dourned on Wed
/ ne
10 resume specie paymentstat is dispensing with The
ppnaIly Of u per cent damages until the let january
but upon condition, that the Boston Banks redeem IN
spece bills of fee doLars and und,r and the cnuntry
hanks those under three dUilarS-The Merchants Bank
of Bos,on-one of the largest moneycd institutions in
observation-disclosures resumed the payment OF specie on
its bills Of all Examinations. There Is said to be more
spece in Boston than there has been Tor several years
and the Banks far the amount OF specie IN their
vaults is concerned, are IN uch oecr cohdll'h lhan
! before the resumption
| The Government of the IT, S. is assisting The cause
of resumption Notices have been stuck up at the Post
Office and Custom House in New York. that they will
receive the notes of all City Banks which have not is
sued p:oer of less denomination than five dollars The
receipt of notes of banks which have issued such being
prohibited by law.-The notice has been give al
Boston. . .
More than five millions Of specie have arrived in n.
York within the last two weeks. The Mediator alone,
BROUGHT in 81 100 600 Ihas been repeated, but denied
! by Messrs Prime, Ward 81 Co, that lie Bank Of Eng
land has declined any further shipment to this county
The Herald states THAT to the departure OF Mr.
G. King for this country the contract for the first
mentioned viz 81 100000 was made and securities ex
changed; therefore, without doubt, the whole SUM will
be forthcoming.
These statements ha been made in the London Morn.
ing Chronicle Of the 24th ut which makes out rather
harsh and angry controversy between the Bank Of The
! U S. and the Bank of England But The London Bank
ers Circular it off in The following manner while
il repeats the suspension of the exports OF specie:
"allusion has been made in the Morning Chronicle
and other papers letter written by Mr.. Bidde 10 the
| Bank Of England A letter has been written by that
gentleman touching point Of banking practice, but 1t
is Of 4 nature not likely 10 lead 10 enlargement and
hostility between the two banks and trust and be-
eve to an issue very different from this; in the mean
time Mr. Jaudon is treated with becoming courtesy and
personal attention BY the leading Directors of the Bank
of ENGLAND Whether the view taken by Mr.. b. or by
our own corporation the subject matter Of the cores
pondence be the correct one time will show TINS IS
moi an incident thai gives the slightest apprehension
mConcerinp the exports Of bullion TO the u S, which
s subject of general interest to all bankers the acs,
ve understand are these:rhe Directors Of the BANK
of ENGLAND Judged it expedient 10 million sler
limo to be sent to that country was not, as reported,
IN he semi TO Mr. Cowell-it seemed from crcumstance
with which we are acquainted extremely improbable
that i, should be-but to the firm of Prime Ward g. Co.
This House in conjunction with Mcssrs. Barring q Co
ndertook the cement Of this precinus consign-
ment on an adequate mercantile commission for their
n;n, guarantee. attention. and labor in appropra,lng It
10 ts destined uses Arrangements were made win
shippers for the transmission OF The sum proposed ou
The hank has we believe, somewhat suddenly, stopped
short in completing the design and instead OF mlon'
about ESQ 600 is the whole sum to be actually sent from
This quarter What is the cause OF THIS check poin
which cannot be known, even satisfactorily guessed
Mt BY the public for period Of nearly three non'hs on
account Of the mystifying method oil reporting neIey
the quarterly averages Of assets and liabilities ana moi
their actual state at the time of making the Perioo'ca
re,nrns monthly The check looks, however, very much
lilo proceeding arising from alarm that the de OF sup
NV in The precious metals may flow with announcement
| E,yce from Europe to The United States