Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-11-01

WITH the Of ths county the bank may be oca
and with the Of the state and the sueen
thereof be judged Of the judges Of the county courier
such county. r-.., =,
ID That chartered rechsrtered aforesaid be
exempted from the provisions Of the safety iunu act
Sd. That all be made subject 10 the power ana
control the so that thereof be
atany time modified, amended or repealed. ;,,sa :
4h. That bank shall not be pern''ea o issue
dollars dollar Of capital stock actually
| paid in
sh That the president directors aud all officers Of such
bank subject penal punishment for all fraudulent
| acts in their official capacity
Private letters from Eugland represent the crop ia
much condition do the public prints On the ar
the Liverpool accounts then furnished agreed pretty
nearly that the harvest of southern countless constituting
nearly Of the whole CROP got in in condition
slightly average In the Northern counties the har
rapidly with fine weather but in Ireland
much damage antciPated great whole II ascer
crop would be deficient about ten Ct Of the
average or 600 qs This estimate confirmed
BY letters former ORDERS will in
all probability be correct The great cry which raised
subject arises from political questions concerning the
laws and effort will be made the coming session
Of parliament, to have them modified done away with
epdearors excite aong the working classes fears
Of scarcity The crop will be- undoubtedly short to
continued in the money MARKET but not beyond the
ability Of the Bank England meet it, with the aid she
command iom Paris aud Amsterdam This position Of affairs
will be disastrous the Philadelphia policy and enhance the
difficulty which the T. Bank experiences in making her
curtes available These are the elements continued fall
prices and tend to eradicate The rredeemabe system
The position which banks occupy, divided into spe
Gle paying and non.specie paying Institutions will
ton with the of affairs England have very curious
effect upon the cotton market We learn proposed by
southern banks which have followed the u Bank
III supending to enter the cotton market directly and
chase cotton from the planters the forth by the
famous Macon There many of the planters
who disposed favor this policy, being great
involved with the banks and it presents the redest Of
dschargng their debts the institutions Many the crops of
already pledged the banks who advanced them
sold specie prices Europe
There however, of the planters who will prefer to
dispose Of their stocks for sound and who are net
bound the banks pressing debts These will
y avail themselves of the offers Of the English buyers who
will be in the field purchase at low prices By this
ton buyers and sets Of sellers will be created
The dealers the sound currency and the dealers in the
deemabe state OF things which will bring about the inc
vtabe destruction Of the latter class The ultimate sales
Of beth will be in the market and in the
cy The planter who receives the deprecated bank paper
although he may receive normally higher price fer his
ton WILL in the purchase Of his supplies lose difference be
that and the sound currency in which he make
payment; his expenses WILL therefore, be much than
those Of the planter WI receives the sound currency Of the
northern States for his produce and has the benefit of the
change The latter will make money, while the former will
ruined with the banks with the fate Of which involved
is constantly involving the people deeper debt the banks
The debts due the banks represented by their
discounts This Indebtedness shown by the following table
Of bark loans divided into districts =
LOANS.
Western Sc. f. S. Vest Middle Eastern
1889 43,4Is5l7 geo ,66034l I34 26s 1872 7s545s25
1855 4o4sa66a l7ss4asiI i2774oo77 ss675Is5
1887 40,43s70 tsi l5a,047 1856 9SS5l,703
By this table perceive that the Middle and Eastern States
have largely decreased their indebtedness to the banks The
Western banks have slightly increased them the crops
abundant than beore yet the table for the
Southern and South Western States EXHIBITS large increase
of loans for the year when the crops 20 CT short
ohe previous year. also appears that since the period Of
pension the Indebtedness Of the people of that section to the
increased 30 millions OF dollars, Notwithstanding
the largest crops known has been sold at high
er prices than ever before.
The cause this anomaly has been above pointed
that purchases supplies have been made inflated
rency and sales currency. The loss fallen
upon planter whose pressing necessities have been relieved
by loans pledge ofhs succeeding CROP Nothing
but an entire reputation Of the system will the planters
from utter insolvency Let them rally round the sound banks
which will furnish currency redeemabe in specie for cotton
at such lew prices demand will justify sahy
trade with quick will be the result leaving
proS above purchases supplies shed low prices
by the agency Of the sound currency emanang from
York.
sales nj the stock kxchanxe.
$500 Corporation Blonde $50 shares Bank 90 a.
es do TO- 60 50 do tom.r bS 100 do 6y so
DO 10 de rs &C. 30 do Ga so do g. SO do
Is do 6s,25 Del Hud led 81 $50 do 81 so do 10
Is do o0a geo do sou 100 do 5lt50 do Am. Trust
$751; so do asi, 100 Dc s7i ISIS do STA IS do $40
Manhattan 1919 do Tradesman looisdo State Bank So
80 do Farmer Trust 1870 do Illinois 81 26 do 54-2s
do Bank of Kntscky 6i - do 6t % do 64A 90 do 85
50 do Amer Er Bank 90 80 II do &c. 70 do a. 80
$50 DO Eagle Fire lns Co SOS do Mohawk 49, IS do A.
Prov GAL 40 do 93l0o do stoningon H. $40 do
H. 100 DO H. Is do is so do l4i d. Harlem sat- SO do
81 30 do wk "a, so do 49, as do 33s-loo do Utica
los
State Of Trade
TIE effect of the fr England has been 10 AMI
mate the markets Flour has been depressed in
quence few sales have been made 1915 5s7
Markets equally dull In reighs but little done very