New-York tribune. [volume] (New-York [N.Y.]) 1841-1842, 1841-11-15
Pretty fair, we call that.

W Hon JoHs w. TAYLOR for many years a
Member of Congress, Of which he was fosr years
Speaker, and now n Wing Member OF the State
Senate, was on Thursday attacked with palsy
which paralyzcd one side, with his tongue, and
probably affected his mind. He wa, living OF
Friday, but with slight hopes of his recovery. Hi.
death will be serious loss TO the State.
70 LEVI S. CHArpIELD, it is settled, is to be
the next Speaker of the Assembly. Thisis hard
choice but the pnrty voted for him when ii
meant nothing, and now eannst drop him if they
would JoHN o. CoLs is to be Clerk. He will
make good ono.
ora CRY CuRREScY.-The City of NcwYork
ought TO have the best Currency Of any part of The
Union, bat practically she has the worst. All our
tears shed over the evils experienced by Phadel-
phia Baltimore and Ncw-Orleans from their de-
preciated Currency, are wasted Their Currency
i. practically better than ours. Not that 1t Is IN
trinsically more valunblc-that is no criterion The
Currency of those Cities commands what 1t costs :
INC HIN VIII Sells uuS WIN VI N'T ~
turnips for dollar get dollars worth OF
whatever he wants in turn. That's the true mea-
sure Of its value to him. Here he gets dollar
which will probably buy labor or goods again, but
which will not pay note in bank, or his rent, or
many other obligations. Thus with some sf the
souudest and best Banks in the world all paying
specie freely and issuing their notes in ell theii
own dealings we have yet irredoemabe Cur
rency for all the minor traffic, the million hand-,o-
hand transactions Of everyday life. The conse-
quences are infinite shaving, serious loss to the
many balanced by no adequate gaia to the shavers;
resulting in the saving up of unsafe paper to avoid
paying the discount, and the ultimate loss of many
thousands Annually by those who least afford
it. How long shall this be endured
The fault is manfcsily not in the Banks, nor in
The laws, but in the People. The Legislature OF
1889 took n great stride toward reforming ii by
co1strsining every Bank in the State redeem its
notes either here or in Albany at one-half per
The Albany alternative had better been left out,
bu, ever with this the law is very salu,ary. The
average discount on uucurrent notes is thereby
greatly reduced. For the rest, the People alone
are in fault. The habit of treating every thing as
money which looks like it has made all the mis-
chief Ia Boston, the Banks, unaded, uncheered,
haze constrained the local institutions of nearly all
New land to redeem regularly in that City.
There strenuous, spiteful resistance on the
part of many Banks at first but ultimately all &c
ceded and now a motto of any New England Bank
with two or three exceptions, being at par in Bo'-
ton, is worth its face throughout that region. Nay,
the notes of New England Banks four TO five hun
bred miles distant are nearer par in this City than
those of our own State Banks less than hundred
miles ofl-sometimes, much nearer So tar US the
local circulation of New England is regarded, the
advantage s of National Bank are realized through
what is known as the Suffolk system
The abuse at which We have pointed aggravates
itself The fact that bills not worth their tace are
taken as money when they should be sold as mer'
chandzc, is made tho basis Of a saintul operation
The manufacturer, mas,er-builder or contractor,
who receives check for thousand dollars, sells
II IN broker for uncurrent notes with which 10
pay off his bills and his workmen. ny this ar
rangement he makes ten dollars, while they lose
twenty and are often put 10 great Inconvenience
The broker is frequently in the interest OF some
gang of spectators, who pay him to push OFT their
insolvent trash If the aborer attempts TO save 1t
against rent.day, it fails in his hands If ne spends
it directly. the grocer and merchant will take 1t at
par; but they came, ray their notes or their puF
chase. with it; tkey must get it shaved, and
charge the discount in the prics of their goods 40
that it comes TO the same thisg in the end
The simple, sufficient remedy for this evil Is an
agreement among the people not TO receive as mo-
ney in our internal dealings, any thing which VIII
not cemaand the coin in this city to its full nomi-
nal value. Those who deal with persons from
abroad-,he merchant, the publisher, the hotel
keeper, &c.-msst take such money as comes to
them; but they need not pay it out agaiR, except
10 those TO whom it is worth its face. Let NIL our
dealings and domestic traffic BE carried on and
payments made in par money, and shaving will
seon be brought within narrow limits. Our own
sound. well.mapsged Banks viii enjey, as they
ought 10. a far wider circulation than now; the
best country banks will keep their notes at par
herr. and the aborinsble nuisances which new