The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-03-14
MONEY MA KET.
Sunday. March 1876 p. n.

For the benefit OF the creditors of the United States
Bank in this country, the following from the
London Bankers Circular of February 4, lS42. Even
the circulating bills OF that concern selling in the
hands sfihe poor holders home cents the dol
lar while nens Of dollars going abroad to pay in
full the accomplices Of he bank officers in London -
We intended to mention last week fact which we be
eve has not yet been communicated to the public
Is that the United Bank has RENTED sum 10 TINS
country OF about f3000eo in discharge OF portion OF
their last loan the remittance is in bills on En6hsn
merchants Of upquesonsble solidity. This loan wss
confined to four five firms, whs took some OF tne
paiy by the sale of Ohio bonds, which the
deemed on better terms than could be obtained io
in the market.
Our motive for making known this Circumstance Is,
that throws little light on tha disposition OF
American borro fulfil their obligations Iheir
az we think. upressonabiy So Wellinformed men just
arrive from the United States express stronk opnon
viii be 50 smphaticaly discOuLtsnsnced BY the Prnsi
pal operators with money that country as to conhne
lit solitary case With time these persons .nnk
tually paid.
The banks Of Philadephis, bent upon their own
destruction have ofthem, that they will pro
baby be compelled by law to resume entsreeo INTO
arrangement with their deposors, by which one
ofthe sum due them is to b. in specie funds and
the balance In two four and six months Thereby con
essing their inability to pay their debts, and SHAKING
confidence in their resumption Their outstanding cir
citation very small and they pay but % per cent
their deposites after ell their contraction How Sc
then must the curtament the next six months
enable them to meet the remainder.
The Bank Of Pennsylvania being about to make
general assignment hes asked the aid ofthe Legislature
Governor Porter has issued message in relation to H.
and the preservation Of the stock owned in it by the
State.
The banks Of Baltimore making preparations Tor 4"
suing the small notes authorized by the act Of Assembly
relative to resumption. The amount Of their notes au
thorised be issued Ave per cent on the capitals o.
the banks which will give about Eve hundred thousand
dollars The banks last summer lent the state ABOUT
four hundred thousand dollars the State not berg
able to repay At this me the Legislature has author
ised the banks TO Issue orders the Treasurer in
amounts net less than dollar which said orders are
to be receivable in pay men Of State tax This will give
the banks four hundred thousand dollars Of small
notes. making with those authorised the Resumption
act, eight hundred thousand This extra issue may be
fatal to their resumption The Treasury orders will pro-
badly be dishonorsd, and become az unmansgsable
burden a. the Raildead orders ofthe city.
The Legislature of Ohio have passed alaw to provide
for the Of the temporary liabilities Of the State
the interest the debt the substance Of which
ito borrow the money For this purpose six per cent
stock interest payable semi annusy in New York, and
redeemable after 1870 to be issued to the exten Of
$soooe pay the temporary leans contracted in the
city fNew York. seOSoo per cent stock interest,
payable the State Treasury to pay the contractors
and to complete the Wabash and Eric Canal; all ether
works be suspended $500 600 Of the certificates Of
this latter loan be receivable in payment Of tho Wa
bash and Erie Canal lands and in payment for
the Miami extension lands Of the stock to be sold
Disposed ofunder par This appears to be the only
provision majeto meet the State Debts end the pres
pect Of negotiating six per cent stock at par,
while the old selling 80 cents the dollar 10
rather SMALL the State Of Ohio may be classed with
Indiana and Illinois. The States following each
other in rapid succession to insolvency and
what expected while the federal Congress- under
the control actious partsans Of ambitious pc
Ntioa gambler national dssrace means of in
divdual aggrandisement.
A. iaancs Of the description of paper which Is cir
sulated athe South substitute for the constitutional
surrency, give the following fac smile Of that
has come to our hand: