Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-05-07

the LIST Of each month"; January st 1882 the the
present month.
AMoUST OF sSIhs sSs 20 ON the
January, 1889 7s4ss!s Ocober, 1899 s5v7 ss4
MARCH,, sssssss december, ssss or
AMg s1 }Ts sSasyy; $40
J July sssssss Hp sfsn
September, +" .4ss,ss
$780, year unusually large imports, and in that
appears the treasury enabled to gradually reduce the
Of its outstanding but unable to provide
thing against tbs redemption of the amount falling due in
April II therefore depended the Custom House receipts
TO them This failed them; and of the large
treasury notes which secretary of the
notified Congress be provided for in Msrch it
from the returns but small proportion have yet been settled
The law authorship the issue OF treasury notes prohibits
amount outstanding exceeding but allows Of their
REISSUE Thus far the department has not succeeded in Dor
rowing sufficient the notes to redeem the old 10
this dilemma, the privilege of issuing net available The go
vernment has difficulties yet contend with unless
necessities assume the form Of a reeu lar loan.
The Of this state has long been matter olegsav
enquiry and bills have been bfore the legislature
medy the evil complained of by the public which that they
the the shape Of discount
charged all country money in New York Upto last Sep
TIMBER all the bills Of the Safety Fund Banks redeemed
the State Bank in this city at of cent discount Since
the cessation of that arrangement the discount in the hands
brokers has varied from The Legislature the
took the in hand and aer the discussion
plans the result has been the following law
[rsssed May !. 1901
The People Of e State Of New York, regresentsd in Seno
and ASSEMBLY, do enact as foiiows:
Every Sp IN This sss na. ,n bank
bsains and ind Individual Carrying
ing under the act t ss,aoze the business Of
YORK Albany or BIoOklyn shall. be fore The frs, d.
city New H.
y to
a
as ssSEs ns n
banker other be agent for The purposes
shall omit to appoint such agent within he time above men
toned the comptroller shall appoint such agent for such cor
Is D. The comptroller Immediately after the said frs, sa
list q the state snd. a. ls... 40 dali
ss i y s Ssr is banker
M ssi O. ::
s.f y e. ss Pay
tc I'D ana mixer ps, .gsS V or P
Of Albany at rate of discount not exceeding onehaf
Every such corporation, banking association indiv
dual banker whose agent shall neglect refuse 70 redeer
making such demand interest upon demand
the r sn sal.
twenty from the time when first demanded such corps
Sc Ss s pross,SsS j.
BAUM may Be proceeded against Tor violation Is eSsr,s
and such banking ndvidu bsnL
i s %s tie .'s pr
s ss sa Entitled s 10 aaors the Of Sn
Eyrrv association and individual banker who shall
business under The act 70 authorize the bus
% S re ss." he
s1S Ss :ssss Is.sss: . o; sOy'SH.
notes TO ,ssh M or barker unit, sue
%ent shall Be immediately pus'edS BY the comp.roIler
Appointments of agents made in Pursuance Of thu. &C
may Be ara nsy IT Of agent, may BE- mad
ihs somprosr, who shall cause the same to ss
IL shall be lawful for any number ami
banking as,Osops and Hsas sS s,ss s{
sasns sss' he %Ssn
:s d sasS
s agents s sy %
Of fs nothing S, e s r
agency q any circulating nG,s e. d Of %9'i s
pora.sd bank banking association individual banker 10
any dy e liability required az Ysssd ~ a
e authorize any bank banking assSs.p%
drsey their Circulating notes at a. az amount lee. sn
pspor @ ss aas thereon Other place or any 9th
s, q S T act h, s.'gs ssso sn he
Day o. May $40 do hereby certify tina, the same became
-" y" wa" JOHN C. SPENCER, Secretary Of state
y, &c ia rs s stat, ss ~ s' ya s ssGs
JOHN c. SPENCER, Secretary Of State
This law, appears into operation after the LET J,
and gives the option to the Banks to redeem either
city Albany at per Ct discount great majority OF
Banks will prefer redeem in Albany, OF TO
pense This will make the Of discount in New Yoh to
per discount or per higher than the former
charged by the State BANK Ia default Of such redempt
the bank liable for per uu, paid and the bank
fes its charter SO far the public is ooueerncd hey
OF than before that they vii be obliged TO "
s off thas before The circulation Of the ssts
ordinary times which has been returned four tn
IN the Of the The heret lcre paid BY the pub
this has been $500 the tar under The
Law will BE- per cent $50 ooo At the tine the ban
ar, 10 make division Of their small funds, in order
MET the redemption. This will severely their oset
ness to the trading classes The public will thus suher
ways while many Of the banks will Le obliged TO stop
only way for the banks avoid the evil consequence,
this law will be for them combine aud appoint Joint
cy this city where their bills will be received al par IN
manner that the the Engsb Joint stoch Ba
are redeemed ia London ny doing, their bills win not
enjoy more universal circulation IN the city, and viii not
so b, 10 be returned upon them; but NcwYorh city fs
,bev will enjoy higher PREMIUM and universal
demo. in the western states n ueir operations ecuh
,ey.t. business transactions, they pill svestuslly
An. circulating agent for the whole produce Of the
or, states, and finally bring all the banks OF that region
the same measure.
sales al the Stock Exchange.
an .ia. rhrpir NIX u 10 d. Utica 4 Syracuse