Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-12-02

proved Sales of sterling bills have been made 81
per cent sAsl s4 the sterling; on France ESl1f
The bills have been large, and the British
Queen carries $4,000 in spsciethe Havre packet
$4,000 large proportion Of these remttances are On
| account Of interest due abroad next month
The business at the Stock Board has been light at enc
tuang prices. U. s. Bank declined per cent North
American Trust and Banking Company Il yicksburg !;
Harlem Delaware and Hudson iraprovsa II per cent;
Paterson Canton sales of Corporation SIS sold at s7
Indiana bonds Is. a76. Bills Philadelphia declined
Sales at ii a q dis.
The following Official of the revenue Of Bos
ton, for the financial years 1910 and 1879 = r.
REVENUE BosroN.
FL; ;: II: III; FL; ;: AZ:
sss7asss sa.sais
B' s; ~; 81; R:s;a' Fl =
We have received the Message the South
Carolina regard the finances Of the state
following passage:-
For some years past the state has anticipated her m
come, and permitted her expenditures to exceed it, To
the deficit the funds OF the Banks have been SEIZED
upon, and diverted Temporarily from their legitimate
ed and its effective power weakened The increased abb
stracti0n ofits funds has given rise to alarm
in those who administer its affairs, well the officer
who is at the head of your finances
In speaking of the unfortunate condition of the Banks,
| he has the following:
| would destroy but regulate them. INCORPORATED,
they are, into political Institutions, aud forming
material part ofthem lregard their annihilaon
blessing but the certain pessae of wide spread ruin
should not permitted to do they please Their char
tered privileges give them right violate obi
cations and perPerate outrageous injustice They have
independent corporate existence apart from those
di,ion implied well expressed which gave them be-
ing. In the nature of things, Bank have exclu-
sive right sport with the demands OF Justice
and monstrous perversen to say that the Legisla
Intended to confer this extraordinary privilege
would violate the sanctiy Of chartered rights but
sanction that doctrine which places Banks entire
ly beyond the reach Of the Legislature The
pension specie payments, BY of the Banks Of our
State calls for decisive action The legal remedy
which the bin holder has amountsto nothing In moderz
times the refusal to redeem note is common Bank ope-
ration and he must be endowed with than ordinary
frmnes who will make the demand is sure to en-
counter The insulting conumaeous spirit of chartered
gentleman 1t is your province to provide against these
disgracef Bank suspensions, and your wisdom will sag
gesi tho measures best adapted to the exigency.
The Message Of Gov. Dudly of n. Carolina, has also
hand 1t is in regard to currency, the unlmit
paper system school, which subject he has the fol-
lowing:
The object to be attained is, a uniform currency
throughout the gnion based specie and the credit
States, OF the United States How this
somP.hed 81. is the sh1l inquiry III have In no fear !.
rangement entered into by law, between the State
and Federal Governmenss, for improving and US
the United States with sufficient capital assigned each
state supply the amount Of notes for all useful and
cessary purposes One kind Of hank notes. with specie
and ample guarantees alone meet the object and
accomplish the purpose desired whsre, as at present,
large variety bank notes. issued from eight nine hum
dred banks thrown int circslaton experience has
proved that they stand equal footing actual and
ceious erc ums,snces will produce degrees of vslnc
tally destroy their worth national circulating
dium.
As the period for the resumption OF specie payments BY
the hanks of the south approaches the probability Of
successful consummaon of that event dimnishes That
IN. ynitad states Bank is unable to and NAM
tain secie nav ments her resources appears 10
he allowed The only way in which the instr
tuition claims be able to do BY turning its i'm
mediate liabilities into ~ months obligations These la
bes amount $40 900 and consist Of the ea-
lance. due the other banks her circulation payable en-
demand the judgments due her protested paper, one
half of the due the United States in September
last, one half the Quincy loan die In London in April
nex. These form immediate and unavoidable cash liza
hes which must be met Independent Of the July divi
depd which was postponed until January when two d.
vdends will be due Summed M, these liabilities
follows:
Balances due Philadel phia banks Sooooooo
Circulation about oovooW
Judgments on protested paper f,sV'w
D.lisquen; to the United States looeeoo
Carney loan, due in April, 1871 aeNtW
Two diyiJends due in January, 18th 100000
T,salessh liabilities siseooOOo
This does not include deposcs, II is therefore abso
lulv for the Bank be able TO command this
money and with the markets here an a. Europe II IS i'm
sossb TO sze upon her seeerties and active capital
sh has none The enumerated only the more
demands upon the bank and the prompt settle
mon, of which the future crcdi; here and in Europe de-
,snss The lolicrs of the Quincy debontures viii not
he disposed 10 renew the, IL the div blends are again
mas sa ON, of respect the Legislature and in eonss-
oucnes Of nonresumpton. The payment OF the one may
lead 10 the renew of the other Resumption also high
IL necessary in order make good the claim othe con-
Germ for the restoration Of the government deroes under
IN, new Administration Notwithstanding this, unsiuivo-
cal attempts arc making by the suspension PARTY to obtain
Legislative sanction of posponemcnt Of resumption In
aotd TO this may have been Governor Porters
onin,ons las, year. ho now stands before the pubic,
pledred to veto any such bill The following IS the ex-
rac, from his address 10 the citizens Of fseurg in Sep
| ,e,b.r last, on the subject Of the banks -
A. considered the suspension Of specie pay mcnts ex.
,nJ,J 40 longer time than necessary, shall not
ocon any further extension. the banks cannot meet
49, .nsg.ments on the 18th OF January next, viii be
serious misfortune, but u IS one IN 'he prooucuon
,hicb sbali feel official responsihility The hanks
must for the results for must he per.
cv obvious the world, that any hank whioh cannon
| then resume, win sn0n ho'iec "'' -'
| be able TO resume at all
s.rac.,ly no ever Of rcsumliicn IN Penney " sns
h ai,ion OF the southern banks ssueh tina, bat little
bc entertained that they Ill follow in the mes
iucaia;ely or perhaps at all, even II II s brought
,,, ia philadelphia. The legislature OF Georgia have
uraer discussion, also that Of Alabama these
co., states Ike some Others responsible FOR the banks
ara the question Of taxation and ste isazees is so hound
M with the matter OF specie pay msnis by the banks that
a. ,,sp,.. wants Of the community become second 70
Set, risx Many OF the banks nsolvent past DOUBT,
"a univ now e,is, under the cos Of general suspen-
sion The following Is acompsra,i,e reiarn OF the Bank
| ofthe state Of Georgia.