Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-09-10
m q N EY W A R TX II IT.
Momdny. sent. D-6 II. w

DONE AT the Stock Exchange, the transactions were g al
prices which vnce material change roa those OF Saturday
Delaware HUDSON improved per cent Harlem per cent
Florida coAains letter from Col Gamble, OF the
Union Bank explanatory Of the nonresampon policy Of that
intuton appears that the community indebted to the
bank in the Of while the circulation Of the bank
ouy SasSeoo COL Gamble therefore states, that H. on tue
receipt of the ne crop the debtors of the bank will 10
per only Of their indebtedness the bank VIII esume AZ
the time he 'nmate that another suspension w' grow
out Of the eatue resumption Of the southern banks
rally
bill. Of she Daren Bank branches received
at the Central Bank Of Georgials
We have ascerta,ned authentic that
tain OF the banks the gener banking law about
suing post notes. nne and twelve months, Of the cenom
nation of sos Ie0 and zoos The New York Banking Com
pany Of which Deaed Esq is President have already IN
hands Of the epgrave quantity which will be ready Tor
issue in few days. This is and important movement
that grows Of the exgences of the times The
old with the Of the Manhattan are not allowed
post notes, The banks claim the right from the
general does debar the formed
under from issuing descriptions Of money other than that
which furnished by the comptroller Yhe following Inc
clause having reference,to the matter:
SAL by any association and all notes
bills by them Issued and circulation ey hai
be signed by the president vice president and cashier %
Of and all suits acons and proceedings brought or pros.eu
ed behalf OF such association he brought or
prosecuted the OF the president thereof and no u
action proceeding shall aba,e BY of the DEATH
resignation removal from Office OF such predep but may
be continued and prosecuted according to such rules as he
Of law qu direct in the name Of his
Office who shall the powers enjoy the rights and
discharge the dates OF his predecessor
The post system wrong froa the beginning has
been carried extent in the South in order to sustain
the institutions Of that section resumption ana
evade present settlement order TO afford basis for pecu-
iaon. those operations have turned dsasrousy Fore
ing up-n Philadelphia banks which favored the southern
policy continuance Of the system and to such extent has
been carried rcenty that the in the vaults Of the ~ T.
banks is danger being ene cut The that
most Of those having the direction Of the baaks have sought
only invest their usarous rates. leaving entirely out
of the great mercantile interest Of the city They have
endaored keep the line Of discount possible in
order TO avoid danger from unavorabe turn Of foreign ex
changes While this prudential rendered
Of affairs England the banks hsve not been vii
ling iorego their usual profits but lave with mistaken
Icy sought each make its dividend large possible
To do this the high of discount which the southern
post notes. certificates bank stock other securities have
been offered have tempted them into support of that
southern polio, which they the first to dscounenanc
taking the lead resumption That
per- hut il should have been followed undertaking ad
hence all hazards the interest Of the merchants Of this
city Graspng cupy Of tact and waverng policy have
however placed them at the mercy Of Philadelphia
men' and they danger Of being put he,s ds
bat The situation Of the merchants, meanwhile has not
been benefited BY their resumptonheir outstanding paper
has been indeed curadthey have therefore been forced
upon banks assistance but not being willing in order
embark business to pay the exorbant rates for
ney which has been obtained the banks from southern ap
pcaat they have been Obliged to remain quiet To this
cause may be ascrbed the low of bregn
exchange
In Philadelphia the post notes have been Of material assist
anee dry goods Dealers whom have falsd
In the grocery n, kov understand there have been
SIS faisr-s-ons to the amount Of 100000 Ttese
said have grown entirely out OF stock speculatioDs
IF ct IN at
low prices The continued fall has crushed then, showing
that mrch Of he distress arises from speculation.
In hi. state Mr. has with tact, decided
upon Of post notes above decrbed this will afford
currency which will be very servcable to the merchants
give them the Of meeting the fall trade easily
Al il will be Of great benefit to the Bank
which Mr. Dela6ed presides BY rendering very popular
with the trading classes who well with Mr.
Dea6ed ability for financial in situation where
he ha. more square ~ han he had the Pnx
Bank.
The old bank. are becoming dav unpopular much
eemen created day b. the refusal Of the State Banks
any longer redeem the bills Of the Bsalo City Bank and
those Commercial Bsok Of that city The alleged
war great quty received in this city to day Last week
We mentioned that the Buffalo City Bank bills refused
aud subsequently TAKEN this vacilang the pert
the State bank merits the sondc May
la the trading community h been kept state Of anxiety
with regard redemption Of country and the arbitrary
manner in which they subject be refused moments
notice. calculated destroy all confidence the
and nullify its effects.
Al the termination Of the last yearly arrangement the
dempton ceased, and after delay Of week,
raugement effected better terms for the reaeeming
At the time arrangement mad. by the banks
under law entered into, TO have their bills redeem
s the ~ American T. and Banking Company this city
th. carried into effect by of the inability Of
the country banks 10 comply with the On the ah
slant appears Convention Of the Safety Fund sashs
held al Auburn consisting Of delegates from % banks fol
lows
David wood Canal Bank, Albany.
A. d Plichn, New York State Bank.
wattsShsrmau. Albany City Bank.
John Paine, Bank Troy.
Curdon Corning, Farmers Bank, Troy.
q. s. Douglass, Mer. hsnis' Mechs Bank, Trey.
D. H. Douglas, Saratoga County Bank.
W. n. Walton, Mohawk Bask
Thonas Palmer, Schenectady Bans
O. Story, fIerkimer Count, Bank.
w. NJ ,onkey, Chrnsngo Bank.
w. X Lsthrop, Madison County Bank
w. b W,lles Bank ofUtica
D. u Lansing Oneida Bank
John Wood, Bank OF Rome.
WIN u. Welles, Lewis County Bank.
q. v. Brainarj, Jefferson County Bank
James Averill, Ogjcnsburg Bank
EdmuHd Kno vcr, Bank of Oswego.
Samuel Hawiey Commercial Bank Of Oswegc.
NJ. w. Bennett, Bank OF salipa
Hamilton whre, Onondsga Cosnty Bank.
a. +. Leech, Bank Of Auburn.
e..o m Tbroop Eauptv nanL