Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-01-24
Total,
81 984 TOO

mas Id inc AT "ese
stocks have teen received Ga the 9th March last notice
published that the stocks of this and those Of the
United States would be received at and the stocks of
other states would be estimated according to circumstances
when they offered reference being had to the arket
value Since then srea, decline has taken place. and per
cent stocks have been taken at 95 and 20 per
One bank has been wound up and about be
closed The report then sdvers to the acknowledged defects
Of the law, and recommends the following amendmen,s
No circulating be delivered any association
individual until satisfactory proof shall be produced the
comptroller showing that the capital paid in secured to be
paid in amounts 10 500 co.
No stocks, other such have been shall he is,
sued by tho authority of and for the redemption of which the
faith the United ates this shall be pledged,
shall Oe received in security for circulating notes.
individual bankers, who shall commence bushes, after
Isl, nuary 1870, shall comply with the regulations
which applicable 10 associations.
Bsnos and mortg ges made direct to the comptroller by
the president other officers of the assocatons or
bankers shall be valid and such bonds and mortgages in such
hereafter be received like transferred
according to the 7th section Of tie act aforesaid
No as ociaon individual banker shall make, issue or
put circulation moaey notes bills other evidences
Of debt except such shall be ebtanea from the comptroller
according to law.
MuIa,ed circulating may be returned and Others
lieu OF them, if the securities shall be sufficient to
warrant it.
All protest fees shall be paid by the person procuring the
services be performed and for which ices the association or
shall be LIABLE No Of the pledged usd
shall be applied payment such fees There shall be bot
single fee protect allowed all bills held by the per-
persons jointly Interested at the time Of protest.
When the dividend IN stocks interest mortgages
shall be retained by the roler ne snail the
and epos e il in some safe park or
institution banker whom belongs at the highest rate OF
interest which be obtained To remain in deposite till the
securities will authorize IT to be paid over.
The committee annually appointed TO the trea-
suer counts tha also all the securies account
books and other which be necessary in their op'n
able them TO report the true state aud condition oil
that department TO the legislature
These ndmen,s do touch the existing abuses at ALL
the second clause sufficiently indicates the influence whence
they proceeded will be receeeted that last spring. after
Governor Stewards glorfeation message and Mr. Rugges
triumphant report" there every prospect Of crea.
isn OF $40 Of stock which supposed at that
time would sell readily in tn. London market, Messrs
Prime Ward King used every through the New
York American aud otherwise to deprecae The stock Of all
other states order to clear Geld for the disposal Of
900 900 of New York state stock which they considered
good their hands. Arksnsas stock particularly the
object of attack They did succeed in the attempt and
il is proposed to dscredt them by not receiving them
securities without Many Of the state stocks
fully equal to New York in poir Of security Indiana
and Ohio instances Of this he interest has always
promptly paid specie, sometimes at sacr6ee Of ten per
The from the public works than equal
TO the iseres on the stocks which provcsd
for by TAXATION There is therefore, good Why
these stocks should be rejected Instead OF mendg
this Why did net the comptroller advise that the banks should
be compelled to state iu what their capitals consist where
their real estate is situatedj in what csusty village citv
Il
the mortgages aud morgagei The public will then be able
sdg. of themselves If the security offered them valid
There many other abuses which shall refer here
after, that the comptroller has passed in silence
appears that the circulation Of the Safety Fsnd Banks
been immensely eur,ailed dur the past year. follows,
| CUnnEscr os THE srArH oy Nsw Yonx
| Jan 1889 jan, 1910
Safety Fund notes in circulation tl9373 I49 1900
Free Bank notes. $4,000 6Oia olo
NJ, - $1,000.
| Deerea.e Of currency. 1877 400
| decrease Of Free B. notes, b6I57Ip
Decrease Of Safety Fund notes, 7,57sloe
TIL. Of Safety Fund notes IN eireuaiisn 10 e.tma.
ted by the Comptse and he puts down oil the Free BsuL
notes he has delivered, in circula.s. This 10 rscorree
By referring the OF bark, already msde
6ad that than GA per Of their bill.
this would reduce the actual ercsou Of the Free Banks
100000 ~heh probably also the actual dmrutiOn Of The
Safety Fund eirtpi The red back being the cheaper
currency Ia rapidly paesd the Safety Fund bills been
tn. cause Of much Of he difficulties they srp dur
sg ID. P,,t.anmer The operation Of this explained the
occasion stopYsge ofh.ir redemption BY the State Bank
The Co apoer further recommends the adoption Of alaw
oSee III the bsnhst r,dse their bills Albany the
now IN OPERATION with Of the tanks, We do
how that arrangement will relieve the citizens OF New York.
where IN. greatest p ooOn ofths money paid, from the
,uor they have hitherto been obi ged 60 pay
The Of trade should be the eenre Of finance The less
il aicea on the New Ysrk dealers In e shape OF dceus falls
ultimately the farm'r when hVuy' his supplies By the
Of their value u the interest Of all that the
country should boar all the e,penss incident upon their
cireui alton.
We have received tie message Of Governor heNutt OF
Mississippi Tn, receipts into the resury Of that State from
the l,t Jaw 1890 10 soth Of Now 1882, s:e1iai
The di,bur,.ncnts WERE soiais
DtGeiency 75O1
or the receipts slbe0si borrowed; consequently tie
disbursement exceeded tie actual receipts, s2s AL
To rsoy this TIE Governor reommsnds tar OF OF one
per cent loans and discounts Of ell the bsnss tho
Site.
The state debt smount,o s7booooo
The interest tysbe in LosJop, areupts 10 $4,000
There IS Of bone, created for the
Of the Uncn Bans thsete recommends 10 b, cal ed and
cancelled The Governor then gives the 70 sing statement
Of the condition OF the Union Bart.
Urio- BAsH Of M,.sr.urrL
- s,rls May sao,si ss s's ",,.., s sssas
Jan. lSi9 <3lst vnl,svrs "a COO
s~~et" sS7s
Balance, 3eVs,i6i
she has. IN sddiGos about facoOo) cs bills receivable no.
5e. the hood. The smcu due 10 April and si.v Is 70,
10. IA