Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-10-22

rb marnet presented very little change from ne
rices Of Saturday Sales not large u Ssak closed
the same as ON saturday DEL Hudson receded per cent
Kentucky per cent; Harlem per cent ouca
Thar, was less demand for money today than on
Saturday. n
For several days past the State Bank has been disconnung
the redemption Of certain Of the safety fund bills
efollowr list of the banks the bills Of which have
been thrown out. on Saturday ard oday- ,.. rs,
Chemung Canal Bank, Bank Of Whitehall,
Essex County y" tats touny DahA. n ;,
Rank Of Ithica Commercial Bank Of Buffalo,
:. = J.,ops CITY Bank Of Buffalo.
!. g Orleans, Commercial Bark Of oswsgo,
Madden Co. Bank, Oswego Bank,
Sacketts Harbor Bank, Chauiauque Cot ty BANK
These are ,ht ny brokers' at 5p.r csat d'c u
The probability is that all will be discontinued with the e1
ception Of such made arrangements Tor taxing "
their own paper The Bank Commissioners are now mere anu
have sent for the the country banks Tor the pu
pose Of ende ayoring make arrangement WIN the
this city, by which Safety Fund money shall be received a. P
in payment their debts Such measure very uesn
fit can be entered this time The present
mode of redemption operates very much against the
the country banks grant the necessary facilities IN getting
the to market The policy holding back produce Tor
rise laid the ground work early the spring for the present
difficulties The banks thereby prevented from remit
ting DIR ATS against produce to meet their funds mere.
The policy checked the export Of grain, which would
fef to its natural prices have formed the basis Tor large
amount Of sterling bills This led to the dscontinuance Of
the redemption this city at the expiration OF the year.
June last The committee OF the country banks at that time
effected renewal ON modified terms, which that sys
tenn onerna exchange should be adopted by which the a.
mount thrown upon the city would be redeemed one halt Al
that time however difficulty began to manifest
fn the circulation Of bills Of the banks under the new
sy,tem They the cheaper currency and the pub had
mere confidence in than the Safety Fund These facts
rapidly driving the safety fund circulation to an ex
tent rendered nugory the effect Of the internal ex
chance reducing the amount in the city The safety iund
circulation was rapid BY the agents Of the
banks exert.d themselves in the nerlorto exchange
the new bills them send the safety fund notes in Tor
redemption.
At the same time the old f difficulty, which was
he holding wheat continued to operate and prevented the
western banks sending funds here The transaction with
regard loan and the canal funds which we mentioned
few days since occurring about that time, caused second
suddea suspension of the redemption
The pernccu system Of holding back the CROP Is the grand
evil and one TO which dealers and farmers adhere with aena
city which almost to mania The process oil re-
ducon in prices going forward with irresistible force
and cannot be The crops immense far greater
than an be consumed tins country, and can End market
abroad only at prices holding back from the market
therefore has no other effect than disorder the
reacy.
The table of the leading items Of such Of the
hanks az have been refused the State Bank their last
turn as with the the period Of uspcn
sion May, 1881.