Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-10-16

win be ohle 70 n the eppDntod uae ed the
Suspension law il extended another year. shs hes sum
ccnt to coerce continued suspension IN the south
The ohe election going on in Penney
evnces however strong opposition to the banks, AID
highly probable that the bank will be compelled 10 re-
sumo or go into liquidation.
The elections far have apparently in favor
Of the wing party and in opposition to the administration
The results however, do not show decided oppos
tion to the financial Of the federal
The constant agitation which, for the last years. has
allied the financial and commercial circles arising
fo various causes have been injurious trade gene
rally and the general facts that trade, although
wing stagnant for the year. and that prices
are now low, have engendered that desire for change
which is producing the results manifest the late
tons This does not, however, manifest any radical
change the popular feeling favor ofthe present nan
cia policy OF the administration In the State Of Georgia
the wing ticket he's succeeded but is under pledge
10 repeal the ubrreasury, and to oppose National
Bank II PHILADELPHIA under the influence Of the US.
Rank suspenson the administration ticket has gained
near 900 There is but little doubt but that the
IT, Bank has ruined the wing cause in Pennsy ania
There Indications that the opposition succeed athe
Presiden election will be still doubtful If majority
In Of any radical change in the policy CT the present
administration will be obtained notwithstanding the pro-
ieoted national paper currency of Mr. Webster.
The Albany Evening Journal has long humdrum
tcle which it calls resuation of the attempts of the
Argus AMI It's echoes to decry the state administration,
On account of the which leans for the public
works have boen taken. Let look at facts The Chan
r of the state has decided that where the agents of
state sell its socs on credit the contract is illegal and
void The Evening Journal goss oil US follows:-
p,b,c stock is affected by the plenty scarcity Of
money more than any other commodity, because the
,Dms on yaich money be borrowed depend almost
on the ability OF the lender to loan it. While
ali stocks are affected by general causes, there will
I've Of difference accustomed by the different degrees
,la We POye
H. mice a. which an administration obtains money is
hrher than thai paid BY any other stae theh may De
MID responsible the difference in the absence ofany
peculiar beyond thei. TINS .es ,s Ue ON
obtained two millions per cent stock at P0r in July
same year they obtained 500 900 dolarg
yoe and in October they borrowed dollars for the
were at discount Of from eight to fifteen per cent except
The statement here made that the stocks sold
mar The following extract from the report of the
fund Commissioners, dated JAM I, 1910.
@On the 18th August 1899 the Commissioners borrowed
500 ooe which W as loaned by the Manhattan Company
At Al in money for each dollar in stock. The proceeds
were deposited with that company and drawn out in pay
ment Of the canal debts and oil the drafts Of the
Canal Com uissoners within very short time after the
dspsse was made Tnis being anticipated at the time OF
the loan q cas agreed interest sho" De charged The
Ieoo,f phicA syas inducement to the loan"
Here was sale credit, by which the State lost four
months interest In the month of October loan of
made In relation to this the report states
as follows F.
LII a. J,,osd uihouf and be paid out on the
~ the at different periods according
IN the anticipated demands; and these periods 81 payment
were sed afford compensation J'r taking the
srost. alluded to were to be paid follows:
7ner cent on the 18th of November then next.