The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-06-13
MONEY MARKET.
Sunday. June 12-0 p. Nj.

The message of Governor Porter to the Pennsy vania
Legislature is Short prompt and energetic states in
few words that there is alternative between immed
ate taxation and dshonor II IL to be regretted
however that the authorities of that State have been
long discovering this fact. To Governor Porters own
tcmporisng with the Banks great part Of the present
difficulties be ascribed but 1t is better to reform
than reform The message states that the
sum of the taxes paid by the people of Pennsylvania for
all purposes town. county Sc Sc. is 100000 per an.
num of which 100000 into the State Trea
sury This is equal to s235 each soul in the State per
annum $40 per for each free white male over
yearof age The State requires nearly as much more
to all the claims upon her. which would swell the
annual tax to $40 per annum for each free white
male Is years of age. Governor Porter makes the
following statement, in which we think there is some
error
Three per cent on the assessed value of the real and
personal property Pennsy as II necea
saly is far below its value amounts to upwards OF forty
two millions of dollars sufficient to pay of our
tire public de b and leave surplus OF five or six millions
in the Treasury"
Thisis very singular statement. Pennsylvani must
he doing good business IL they afford pay $42 o0o
600 out of their profits, which is equal TO $50 head for
each white male. The Governor then makes appeal
in behalf Of the domestic creditors and proposes to apply
the g. worth Of stock held by the State in the Bank
of Pcnnsy lvania Philadelphia Bank and the Farmers and
Mechanics Bank to their relief.
The but healthy curtailmens which has taken
place the Western Banks in the following condi
ton of those of Cincinnati -
BASxs OF CIScISSATr JrSk, 1911 AND JryE, 1852.
June !s,I; J'"'s: ls,s Juas, a; jung
E 9,aEs Bank R.Rs ' sSS s5ss s .s ss s
Ohio Trust Co., 77g,5O0 G3s,JD0 $1,000 $1,000
Commercial Bank l'9os,o77 iol7,e3i eso,oas iaa,s2o
Reduction s'Is s s1s,.,f 1884 , e, e:
After short-lved resumption the Banks Of N Orleans
have again suspended This is most disastrous result
Cor the paper interest but will probably prove one Of
lasting benefit to the whole community The run which
terminated in the suspension commenced on the LIST inst
which day the monthly return of the condition oil the
Banks was made public The general features Of THAR re
turn as compared with statement of May ls 10 days
before the resumption, is a. follows:-
srArr oy I'VE BANKS Dor New OaLEASs. ON THE isr
J,sr .xn 10rH ArRf.
'A' ~ .4prii 90. Mavae
Liabilities .qssefs Liabilities. .qssefs
Ban. bbs Ssns Co. ss ss s ss ss s s
Carroton X. r.. and
citiaens' Bank. s3i2I6i Iisi32T5 2,s2iss osss,5s3
City bank, 1859 go i,06f,,3t 1,312,l13 39R,6T
Commercial Bank, I,is,75I 4ii3,sil l,0e63l s9ssg3
Consod ted Asson i283i5i 3o6s,Gs a635o5 360i,4s3
Louisiana State Bank iaea0e3 33oj,o9 ios2o2 s23oeo
Bank s5e07t 277e.Oo3 4niM 2s372a
Union Bank i,es,2si ii,2s223 iis272I li2N,3n
Total, sil,569so3 54i6,645 io,4sOsi3 53Alj IS
The circulation and specie Of the several Banks tho
anne periods were as follows