The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-05-26
P o S II S C. r | P T.
Important from New Orleans-Kesumption
OF Cash PAYMENTS.

Important from New Orleans-ResumptiOn
OF Cash Payments.
Our accounts from New Orleans, by last even
ings mails are cheering. Resumption, thus far,
has been triumphant in the capital of the South.
We annex from the "New Orleans Advertiser"
OF the 18th inst, the following interesting partlcu
lars:-
SEVEN BANKS OFT THE TEN ALL RIGHT = Cit.
-ens, sfGe ana Consolidated Bank paper repmdlated
ana at discount Slight Exchange on Nc,c York
par TO per cent premium .-Yesterday was a memo
rabe day 1t will be referred to- hereafter, as the
epoch OF honesty returned to Louisiana attera
Binks made grand effort and paid their obi gatons
IN the legal money Of the republic.
1t was a remarkable day, too, for signal piece
State and Consolidated Banks These institutions
solemnly agreed on Saturday last to pay coin yes
terday, but their Directors reconsdered that prom
Use, and refused to come up to the rack"
Nothing daunted by the deserton of these two
George SANKEY'S, on the morning Of the battle the
CITY, Commercial, Union, Mechanics, Carroilton
Canal, and Louisiana Banks marched out in solid
column, and opened their vaults to their creditors.
Had the three Banks down town, now known by
the significant title of the estate of Consolidated
Citizens, done their duty to the public, resumption
OF specie payments would have passed OIL as an or
binary occurrence. But it proved otherwise, not in
consequence of any doubt on the part OF the holders
of notes. but in consequence OF a scheme SAID 10 be
set on foot by the State OF Consolidated Citizens,
which paid out the notes OF the resumlng institutions
to an army of fdthtnS to go up and draw the cash,
tor the purpose of replenishng the vaults OF the
said estate, &c" The appearance OF these gen
tlemen, in such numbers, alarmed, temporarily, the
unwary, and the crowd in the Union, City, and
Canal Banks increased up to l o'clock, when peo-
pie having got wind of the movement" of the
estate, &c" fell of, and tor two hours thereafter
great Indignation was expressed by the by-standers
and citizens generally. The main ooint of attack
upon the City Bank, whose President is re-
garded with especial horror by Estate of Consolda-
ted Citizens" The common talk among the citi-
zens was: "Ah ali! we have got the damned
will give it Peters to-day, the Consolidated will fol
low tomorrow. and on the third day the State will
close his career with 'sockdologer.'
At an early hour the notes of the estate of Con-
solldated Citizens were offered in the Streets and
in the brokers' officers at all sorts Of discounts.
Actual sales were made as follows:-
Citizens Bank notes, 10 to Is per cent discount
s s;a's " 10 1910 to Is
They tending downwards, and at three o.
clock yesterday they were regarded with great sus-
pclon.
The Citizens Bank committed gross violati on
of law in paying ont Third Municipality shnplas-
terSyesterday. at her counters, in exchange for her
own notes They say that the Citizens paid out
$40 900 of this trash in the of the day. and it
is now known by the name of Citizens Bank
rency
This State bank did large business She paid
her notes under five dollars in coin. II was dis
grace to see so wealthy concern palter in double
sense, and treat the public so scurvily The Con-
solldated threw herself upon her reserved rights,
and refused to redeem her notes in any thing. She
considered them as good as wheat, though the hol-
ders did not, as the above table will show. j..
Considerable quantities of specie, drawn ont OF
the coin paying banks, by the inhabitants OF the re-
gon of ''les tros Banques' were deposited, it is
said, in those institutions, on special deposite
The notes OF the State of Consos, and Citizens,
were repudlated by the seven specie paying banks,
and refused in payment of debts
On comparison of the best information out doors,
il appears that some $3.50, 900 in coin were paid out
by the seven banks, but chiefly by the Union and
City, at which a dead set seemed to be made. But
what are 900 10 these institutions They can
and will pay out ii called on, ten times that amount.
They stand on the rock OF truth and honesty, and
not all the enemies of sound currency in the
world can overthrow them.
The amount Of coin received on deposite by the
seven banks, we learn, reached 100000. In two
days more the deposltes will exceed all that has
been paid out. Public confidence is with the seven
banks, and in their march they will not leave a yes
tige of irrcdeemable paper behind them.
Immense quantities of sight exchange were sold
yesterday, New York, at par to per cent pre-
nium.
MoSEr MaRxEr.-The prices of paper currency are
now going as follows, specie being always the par :
Sight Exchange on New York. do.
Sixty day Bills on do do.
The notes Of banks, par.
cssns Bsnf do notes. 10 to IS per dc sen dis
State do lOtol2 do
Orleans Bank notes. IS to 80 cents doll.
Ex .asS,fn Bank notes 40 % DO do DO
Improvement do do so do. do.
Blue Back paper so do. do.
Cotton sold to-day paid for only in specie specie
paying bank paper Trade is looking up already, and
reviviup