Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-03-16

in will have added 81 900 to
It's debt The banks will have increased their liabilities
available securities to the same amount The securities OF the
state are it proposed that they should be
taken at par and the sales Of the description Lon
don 80 per cent this state Of things the OF the
- clears they will resume at once and re-
,.e TO make the The debts due by them to the East
vii, he very easily settled by giving their bonds u B.
will not do Independent Of those debts they
are perfecy able tomorrow and this course VIII
probably adopted If then the IT, States and Grard banks
cannot them follow their heschuylk bank
and close their doors.
We gave days the operatioAf the City Trust
Banking advertised that the notes they issued were
stolen consequently will not be paid The true meaning "
the that the property got by means Of The notes Is
stolen The credit Of this is entirely gone me same
persons are now issuing called the North Amer
can Banking Company" The City Trust ana banN'ns Coh
pany signed A. Abbott, Cashier and b. nuns'
President The North American Banking Company notes are
signed E. Cashier and j. b. Munson, Presiden-
Alderman is the broherinaw of Munson la other respects
the bills are identical These making great exer
ons to force circulation of these notes IN Baltimore When
they have cot enough somebody will be charged with steal
in, them and payment will be refused Let the public beware
ofthem
The state of affairs at this moment very critical
The the caused by the yacciat
of the Bank England has of late exerted
such great influence the fortunes Of all the trading classes
that the question under discussion with great earnest
mesa whether the circulation shall be limited to be
allowed to many This question is the important the
approaching expiration of the charter OF the Bank Of Ireland
and then ohe Bank of England gives theJon Stock Banks the
opporny to charge, with much effect the disastrous state
of things solely the exclusive privileges exercised BY the
bank Of suppyng paper currency, which legal tender
and its quantity and value entirely dependent the will of the
2s Directors The Report made the meeting the Chamber
of Manchester the substance of which we laid be-
fore the arrival of the Great Western clearly
traced the Losses sustained in Lancashire Is tina ab
trary movements ofthe Bank
These movements of the institution in great measure
irregular operation OF the laws The
Importation other materials into England are affected
by regular and known operations of trade and their pay
ment provided by the corresponding exports OF manuac
ture whereas the uctuang duties corn immense I'M
ports are suddenly when the duty reaches ceran point
and pay be made only in coin To counterfeit TINS
demand those and arbitrary measures OF the
bank resorted which dsspae the oil
m the hands Of individuals.
The import of Cotton England is yearly oo
This paid for by corresponding exports of manu-
features and produces oanusual dhculy In pay
ing for it. Iii the with silk and other raw materials
the IMPORT of the value of SIS
or e. demand for coin which shook the CONNER
cia world This arises solely from the Fact that
the duty prevents the regular ocorn from this
country which goods would be received in The
American Chamber Of in Liverpool held meeting
18th December Joseph Shpey Esq President at which
il resolved that to admit foreign and Hour at all
fixed and moderate duty the bast mode Of
moving the injurious effects of the present system If the
duty was such as admit of American flour at rea-
sonabe rate large quantities would forward and its
pearance in Liverpool be followed by immediate de-
mand for goods This would be aheahy stimulus to
trade carry growing business here based the
purchases made by with the actsa proceeds of their
industry The business of last year stimulated by the
ceeds made upon the security Of State stocks These
enabled banks give those facilities to importers and
which the Of tempting the country dealers
and consumers buying than they could pay for
This OF and the import trade has been and will
continue revived the cash plan. The differ
ence import trade OF this and last indicated
by the following table of duties paid b. four packet ships in
January of this year. compared wihlast
DUTY r.Ip BY JAN 1885, COMPARED