Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-02-27


will in these statements that Canal Bank OF
Lockport aad the Staten Island Bank hand less
amount Of specie than that required law The free banking
law npeatvey requires that the institutions doing business
under it, shall keep hand all times l2 cent of their
circulation in specie In of noncompliance the share
holders responsible joint partners appears however
that the attractions of the law committed BY the banks do
not attract the notice Of the Comptroller One OF its most
provisions that all bills circulated by them as
money shall be made payable demand Post notes Of ST.
however, daily circulation money,by these con-
Germs, without ecitns any rebuke. The City Trust ana
Banking Company has become bold in their
branch established calling itself the North
American Banking Company expressly issue post notes
person. named Jackson has west with SSoooo OF
notes purchase produce the President OF the City trust
Mr. Munson has his possesscn invoices OF produce
purchased Herewith We but eterate our caution those
who cell description Of that 1t Is Illegal and
worthless and will all with the fate as the Farmers
Bank County, which has issued Sisooo and Of
now lies at Romuus hands Of lawyers protested for
payment.
The United Bank has made another return to Fee
bruary which that the following changes
have place in the liabilities and during the
month Of January -
Resources Liabilities.
Loans decreased co. 100 Circulation increased 5ssSs5
Foreign Exchange 1895 Post notes decreased 1919
Bonds and mortgages ooo oco &C.
Y. 5: Bank increased, 5o54 London agency, ss7l17
sp stss o. rf5e bsnt s SAIL Dep0'e'
The state of dnanca affairs the United States matter
of absorbing whole community For three
the currency has been most disturbed state The
Federal been endesvorng create
rency and change the doing business which had
forty years the growth Of the country
The contest elected by this attempt has shaken the prosperity
Of the country its centre II has resulted two
Of the banks and sagnation trade and yet the Co
vernment have effected nothing.
For past public kept suspense
to the issue othe suspension ohe Banks
enquiry is Where is this to end? When regular
TO be restored? Before this long and
full struggle for the mastery will be made by the u Bank
these its interest When the present Pennsy Legsa
ture about to assemble the executive of that State had
secret understanding with the officers Of the Bank by which the
interest the Satedeb be provided up August
next This enabled the friends Of the Bank
off the resumption resolution at least for the But there
is doubt that the Bank entirely unable for
to Whey to in s4i order
gain little time We information from
source of the highest authority that Mr. Bdd although his
does appear still the ohe bank
and consultations have been held frequently the object (which
is to put of the on not only for but for TO- Is 20
years. and the arguments used support the
advanced in favor Of the Of the Bank
Of England for like period The ground which position
is TAKEN only the erby Of securities of
the bank but the great Of the State and the fear
Of the dominant parties taxation The present GO
vernment of although strongly ocooco dare
destroy the banks time when without their assistance they
must to taxaton and thus eopaz their interest the
coming election already sufficiently danger by the
reaction of public opinion Of the fall prices OF
produce.
This position places them within the power of the bank
which calculating the increased chances Of the
ofGen Harrison looks forward to the of his admnsa
ton Of its former privileges change of admins
traon would undoubtedly be the o National Bank
Whether however, that will consist of entire nstitu
ton situated in New York, with its branches extending
the Union Of the United States Bank Of Mr.
Bidde problem. To the latter event. all the pow
Of the bank will be concentrated New York
New York institutions will be first necessary get under
her control To do ths exertion will be made
muate balances against them to cramp their
of their How far institutions their present
weak aud shattered condition, will be able sustain them
selves uncertain They will be forced exercise the
caution and by this the business classes suffer Should
Gen. Harrison succeed contest will between
the friends Of National Bank in New York and the friends
and influence Of the Philadelphia This is the project
contemplated by the Philadelphia nancier That the
of October the part
majority of the philadelphia banks evident by the following
Official table Of their for October 1884, compared
h.. Of saQ