Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-10-02
$5,692 200 s

These institutions habit appears the first ofJanuary,
bills outstanding to the amount of ST OO0 which
was not in crculaon but held by the United States
Bank since that period the circulation OF Philadelphia
been exclusively United States Bank notes and that ns
tuition probably these five banks balance Of
OOO nearly half their capital may be that these
suons have consented to take post for this balance
bu; that they loan 900 more, and provide
taeir responsibilities will believe They have,
BESIDES pay their portion the loan TO the State
ment constituting the bonus for allowing them suspend
We do believe that the eastern creditors
will take United States Bank pest notes for their
The amount this paper due the east and under protest
is already large. The half million dollars brought
by Mr. Jaudsn Is scarcely than tcient pay
the law expenses, interest ETC., on those suits.
Mr.. Webster's late speech in Wall street. almost
altogether the subject othe currency and may be
sidered ii take int view the conclave with which he
closeed at the Aston House of the day previous
the outline Of the future Of the admins
trston. The subreasury plan is to be done away with,
and National Bank be established in which the federal
government is to be interested it would from the fol-
lowing passage =
The general government, if should upon this
subject ain, would lock particularly in reference the
matter OF issues national institution should have
temptation TO make money A limit should be put to the
amount OF divdends and ell money! made Jeyond that limit
Mould into the public treasury and not into script.
The statements made by Webster facts in support of
his argument in favor of National Bank, in in
stances totally variance with the truth lie appears
have stood still during the last five years while the
merca world has been convulsed and dear bought
rience proved the allacy of former dogmas He
by stating that specie currency is laacy and
luson He then cites England as exampl. of great
prosperity, owing her paper system At this time Great
Britain, with her starving Inhabitants her popular
motions and ruined merchants with the report par.
Elementary committees, ascribng the dreses ofthe past
four years to the maladmnstraton of tho banks is rather
alamo witness to produce in favor of the benefits OF Ma.
tonal Bank Mr. Webster then states that hard money
countries in Cuba the revulsons in prices and
produce greater than in countries where paper
exists. II Mr. Webster will turn to the Herald of the
Augus he will find elaborate translation Of the
port Of the Count de Villancnva the trade
and Of the Island of Cuba that will exhibit
denIable proofs Of the steadily increasing prosperity
island, and presenting strong contras, the state Of
those islands 81. Thomas jamaica aad Others where
banks have been established.
IN describing the benefits be derived from national
paper money Mr. Webster makes the following singular
s.atemeDt:-
Can give you gentlemen stronger proof OF this truth
than you know 10 exist Here all the banks of
here to Tsxas The banks OF Phi sdephia and the Bank
the United States DO pay specie and their
dscoan: here in w all street of three 1--WE per
cent do not know which II is-but what is the state Of
things the froneri Why your currency will not NO
at Arkansas Missouri and that currency which
yresis acre IN Ner York, not there equal 10 di Of s
Bork Of the United States and the latter preferred
there oil or OF ay about it, which cngs it,
hangs around H. and will be there in spite of all the wire
drawn theories that ever were set a6os
Now let us look at the following table OF facts;
Rarrs OF srscE, Nrw Yosx Fusps AND T. 8. B,Sx
BILLS Ar pVfsskNr POINTS AT TIM LArEsr DATES.