The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-03-21

The banks that have accepted the law bound to
ceve the notes Of all others that have The
Improvement is of these and yet her notes at
heavy discount There NO way to regulate the cur
rency but by unconditional enforcement of specie pay
ments BY each and all the banks. The matter will then
regulate itself
In Ohio, the work Of liquidation is going rspidly
The receivers of the Franklin Bank of Columbus have
published notice. that they will receive the obligations
Of the bank in payment Of notes discounted by it, They
state a. follows
They find all such bills and notes to come under that
ceivng instruments Of 20 per cent every ninety days
Those who wish to avail themselves Of this extension
ten assent Of the ndoryers or with the cashier
paying at the time 20 per cent Of the amount
On all cases where this not done, suits will be
menced by the first court after such bills and notes are
at masurity-and So when there 10 failure in any
sequent case meet promptly the instalment Of 20 per
cent every ninety days.
The outstanding circulation on the 9th March. was
5000 9o3.
This universal and forced reduction Of all bank fac
ties in all sections Of the country severely felt in this
city and Boston, among those merchants that
judicious enough extend their country business du.
ring the past year. The remittances due the ants
Of this city not forthcoming and the city
81 these merchants cannot In consequence be met The
heavy failures that have taken place Boston, are most
ly owing the circumstance that large quantities of
that has gone down. received upwards of under
protest The large manufacturing houses are however
it appsars yet in very sound state, and their paper
the most desirable in State street, yet wary are the
banks Of accommodation paper that southern drafts
e~en when drawn sgans produce know to be in store
be DONE IL there is the least faint of kns at
tached to Of the parties This is the true policy
The state Of the markets forcibly explains the
operation Of the banking system The goods of the east
sold to the west and south, in exchange for bank
credits OF those secons and in exchange for their
produce. Hence when the Banks fail, although the
crops abundant than ever the eastern dealers
cannst get pay. This system must be reversed, and
when payment depends only the crops the
will get their pay matter what becomes Of the banks
state Of Trade.
The markets exceedingly dull and the prospect for
the spring business very gloomy Stocks are
large prices low, and but little chance Of commensu.
rate demand.
A,Hrs.-During the week about 400 barrels of Pots
have been disposed of for export and for home OF
the former so barrels sold at So and barrels
tribe less In Pearls the only transaction lot Of
barrels at S. so, at which they are in demand.
Corros.-Ths market has been unsettled during the
week Since the reception Of the per the Acadia
effect sales and the rates about lever than
on this day week.
The sale; Of the week amounted to $3.50 bales. of which
400 were Upland and Florida o. cents 1900 Mo
pie at Of o. and $50 New Orleans at 10 cents The
sr5ivs were saai bales We quote Ne Orleans fair 81
good iaIr 10 lot cents. Alabama, fair o. Up
iapd iair ct asi COED and Ans o. . 81 cents.
FLOUR AND GnAr-The demand Tor Aour has been
ior 81 descriptions, and the sales large Several
70 woundand and the London MARKET the latter on
account Tor want Of heavy freight snIy al S5s7k
in all about A0Oo barrels 'AS'ec"y :" S',''
The s,ls' q Western Canal from 900 70 1000 barrels
Canal Aour 10 be had short of ths rh
demand for Ohio IL also good. Flat hoOps A..
and held asS % Round hoops sell freely Il % % ai
Rye up &c cents, with few sales and hus mn,
Corn is not plenty sale OF 1900 bushels Jersey round