Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-04-11


Excess of imports, 47,6ls,ss3 Hsis,ss3
During the years and - when the Bank of England
sanng itself accumulate specie in order to return
specie payments, large amount of specie vas export
this country In 1885, the Of panc specie again
largely exported In the years and 1884,
panic again slightly influenced specie From that time up to
the 1885, the import of specie continued immense The
first impetus given to it in the year 1891 In that year
conf brought into action which influenced
importation Of specie These we're, the
operation of the gold bill, which reduced the quantity of fine
gold the eagle from grains 2s2 This depreca-
on the American coin raised the value OF The English sove
from S44 SASH CT Simultaneous with this,
of the states prohibited small notes which caused de-
for ver and Of the S7o 600 imported Saooooo we're
silver The depose banks that also were under the
Of increasing specie basis comply with the
conditions which they received the depoes-
combined reduce the exchanges Europe
much afford profit the importation OF COIN AT the
the indemnity due from France and Naples
dered in The T. s. Bank also detained loan Of
facilitate the settlements the expiration OF
The three WIS, and other American houses In
London system Of open credits which in
years accumulated indebtedness Of near S6oooooo in
their the time being checked the export of specie
from this country. All these combined to produce that
heavy import Of specie which find in the table from 1888 TO
At the time Of the revulsan in 1885, we lind that there
still Of imports. This out of the suspen
so Of payments until the crops through the agency OF Mr.
Bd fr ard and performed the Office of coin IN the
dscage Of the debts due three WIS and other HOUSES
time large quantities Of American secui tes State
Ban forward sold and bypothe
sufficient TO leave specie balance III favor Of
this ounry and the import farther facilitated by the
Of the banks fory themselves for resumption In
besides the proceeds of stock sales large amounts Of coin
wempored speculation and welled the imports Of that
yeanmmensey In all this period the U. $. Bank lending
its edit the South seemingly dependent
uninterrupted Of stock FOR herself until
pecuaors under her charge should get out Of the woods
failed herin and the Of exports in that
ysr Of which went from her vaults
she suspended wheu she could longer out We find
above table Of specie the banks that the amount held
them rather less than in 1885, while the table of imports
increase In the same time Of sl2.0ooooO This IN
therefore be in circulation in the country and
result Of the in action in 1884 Again by ON
sl returns the specie all the banks IN ls2 ss0o0o0o
The amount held Booo,Ooo
increase sIs 600, 600
The the country BY the table imports ssss
2 Increase of specie in circulation .... s2sss sss
These figures show that the actual specie clreula
ton has been much moderated The tables onpor arceoes
sary incorrect large amounts exported aud imported
which returned nj the Custom House. Immense
have been brought into the country by immigrants
and large shipments have also been made secretly by the IT, g.
Bank and Others order to slay excitement The general
ratio ofncresse H. however In the last years
them the whole specie in the country has been augmented
s5ooooo and the whole business Of the country
iyred for want OF circulating medium This singular fact
from the ofhe banks the conduct Of which has
been such entirely 10 destroy public confidence in their m
while they absorb s0OoooOo Of specie in their
vaults, and they unable furnish remittance
evenfrom Philadelphia 10 " York without the loss Of
to the holder " half this specie conferred
an New York TO which city specie tending from all qsarer
acurrenoy could be furnished By OF all
the Union, which would once give uniform means
mittanoe from end the Union the other or fourth
ofthe rate between here and Phil