The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-15
philadelphia.
iCosrespoudenee Of the Herald.l

3 PaLADELsMA, Feb. II, 1872
Payment Of ne Stote ksteress in appreciated papc-
The Resumption Bill Syocks-SSiy agaiast the
Banks by DR.. Eldridgs.
The interest the debt Of this State, due ON the
1oth instant, 10 to-day being paid At the Bank Of
xsnnsylvania, not however, in specie or its equiva
bat. bat in the deprecated currency Of the city:
about one hall of the difference between the value
u which and specie, il borne BY the State, the
baianee il lost by the holder that 10, the cur
rency which 10 paid out 10 worth 81 Or IS cents on
he dollar, to which 10 added II per ee.t-thus
paying 4l04i in paper, instead Of SIO7A, n +.
Justice and honesty should be paid. Stockholders
A. however, glad to get it, Cor Me fear with them
Aasfor some months been, thai the whole would be
repudiated ~ this email part 10
This petty clipping Of 81 or 50 on hundred is
. small business for great State like Pennsylva.
mia to be engaged in and should not have been per-
nitted BY the Governor and Treasurer. Even the
aoant Of specie on hasd Tor the purpose Of paying
tho interest was carted away, and, presume, sold
to obtain deprecated paper. Certain il Is the in
tercst was not paid in cein This is indeed dis.
graceful to the State and to all concerned in tide
Sidedy worse than the open reputation OF Missis-
siPpi. The Governor 10 in town, and am inform
Cd superintendcd the operation to some extent in
psrscn.
The bill reported in the Senate, allowing the
hanks FIVE years to resume specie payments, ex-
Nitcs nothing bat ridicnle in every circle that |
have heard il spoken of The CHARM an of the
committee, who con ented to be made the catspaw
v report it, is everywhere Characterized as fool
Or knave. Even the bank men themselves look
upon il Is most ridiculous. l do not believe that
Il will receive serious confederation in either
branch OF the legislature, though there are some
who assert that il will receive the support Of those
high in authority it being, 10 alleged, the pr &C
Or cossideraion Of the means to pay the State in
forest, whish is now in course Of progress, O.!
abused, defrauded, Pennsylvania, when will you
again fall into the hands Of honest and neorruptble
servants! 5000
The business at the stock board was to medium
xnount, At prices in the main much the same a.
- Saturday. Two three descriptions Of sto:k
evinccd . little more 6rmness. All has grown
comparatively. quiet again, thorgh much Of the
Sunency 10 refused altogether BY dealers not much
acquainted with it. B.nkaole paper is seven TO
eight per cent below specie Exchange on New
York 10 abundant 1t six TO seven. Tbs Relief Is
sues OF the country banks are at discount Of
twelve TO fifteen per cent currency. Girard,
Pennsylvania, and United States Bank notes arc
about the same rate Of discount as on Saturday.
DIR. Eldridgc Has commenced suit against seve-
Sal Of our banks and the twoj police officers whe
acted at their instance, to back the amount
Of money and other property taken from his Office
some two years ago, at which time the Doctor waa
arrested on charge Of defrauding the banks ont Of
sertaip large sums Of money by means Of marked
checks.