The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-10-23

The Comptroller remarks =
Judging from these there reason to
love that an debts OF banks will
ever be from assets IN the hands Of Re-
ceivers At SO, the loss to the Safety Fund being
the circulating OF ten banks excluding the Lewis
Co Bank viii 81 063 604 which consume the orr
gnaI capital Of the safety fund.- and the contribution Of
ha OF cent on the capital Of ali the banks JAM
lS49, nclusive"
What picture is here. Of what possible use are the
Bank Commissioner Why should those individuals
take $4,000 per Of the public purse for stop
ping banks that longer stand by any possibility
of themselves7 Ten banks have sunk the following
-
Circulation paid by other banks supposed
good, 2,06S,504
Total 81, 1888, 5O4
While this wreck going on the Commissioners
mined them quarter after quarer only that
they in safe condition. but when from indie atoms
OF weakness the public became alarmed they volunteered
notices in the Wall street papers soohe the fears Of the
public and tole further losses 10 to be hoped
that the Legislature will look this during the
coming session.
We recently published resolution introduced into the
Legislature of Tennessee in relation to the expectancy
Of issuing post notes. The bill called up on Mon
day, Oct TO- as follows
Mr. Turney called up his bill to authorize the State
Bank and branches issue millions post notes,
deemaoe In II and Is months without interest to be
and the taking Of notes at less than nominal rale to BE-
nal
scarcey credible that after all that has taken place
this country OF late years in regard paper money
the disastrous results of the employ Of in every
possible shape, person pretending to common
should have the superlatve to make PROPOSE
ton like that contained in the above paragraph He pro-
poses borrow Of the working classes $2O0OOOO,
and ID months without interest the proceeds Of their daily
toll and not only but oreseeng the inevitable depreci
alton Of these rredeemabe false promises he proposes
punish any who buys them at their market value.
The fact that such audacous proposal SUI
ered be debated should ruin the credit the State for
ever. 1t is not reputation from inability pay, but de-
berate proposition to rob the citizens Of money be
oyed not possible that the proposer of this scheme
at this late day. is absurdy ignorant to suppose
forced issue Of rredeemable paper money be put in
circulation by any government The proposition must
have arisen from other motives.
Another proposition has been before the Tennessee
Legislature which is offer from the stockholders of
the Charleston, Cincinnati Louisville Railroad Co., to
permit the State withdraw its subscription to the COM
pany amounting to and call cancel the
$4,000 of bonds issued for that purpose providing the
State pays the expenses incurred for surveys within
limits While this proposition under debate it
became known that suit had been instituted in chancery
at Knoxville behalf of the State against the Charles
ton Cincinnati and Louisville Railroad Companya suit
brought by mutual consent of the State officer the
companyin which all the matters embraced in the
luton would in the end appeal TAKEN be settled
by decree efthe Supreme Court That suit contemplated
full cancellng of the subscription and bonds in ques
ton the State paying her pro rata proportion of the
expenses ofthe company incurred for surveys &c. the
work being abandoned by the company. That further
information might be obtained the resolution the pre-
sent was laid on the table.