The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-03-20

This does not exhibit any great iegr,e Of strength
eaving out the due by banks, which consist most
ly Of the balances Of the broken banks and cannot
therefore be included among the svsiisb!e funds.-
The institutions may struggle through. and some
ofhsm no noubt have improved their condition. since
the returns were made, but the public can judge only
Of the information before them To continue to pay will
require the rigid curtalment and exaction Of pay
ment from their debtors and the whole pressure will f
those who have directly and indirectly depended
upon bank facilities. This pressure will be increased
by the process Of mption South which will tend to
deprive the Philadelphia dealers of their remisnces
the same moment that they driven to pay by their
own banks. The operation is exceedingly wholesome
but would have been easy and less disastrous but
Tor the fatal errors into which the banks fell in 1882
What would have been the condition Of the Wall street
hanks now if they had that time listened the advice
and solicitations of James G. King who went round at
the head Of the Philadelphia delegation soap in hand"
like drove of mendicant frars duplicating for relief
Had their request been granted the last spark Of
tile honor would have been extinguished in the Uaed
States.
The currency Of the whole country is becom-
ing rapidly reduced to the specie standard and the fall
Of goods and depreciation Of property was never 80
great The reduction in values now under the
reaction Of the Bdde system great as was the naa
ten while that stem in the ascendancy The city
is overchaged with goods and instance Of the raj
nous rates at which they selling we may state that
prints sold at Hsggsrtys within few aaysa at l3,
per yard which could not be imported less than 20 cents
This ruirous to foreign manufacturers and importers
but to the Of the people who consumers, is
germ of wealth. Our own manufacturers doubt
injured by these competitions bat they few
in number Suppose the Engli'h nation out Of
that "high religious feeling philanthropy"
and that "love Of peace and harmony which certain
Wall street papers have suddenly discovered that they
possess in such eminent degree and to which the
$4,000 innocent Chinese murdered in defence of Chu.
san. Ningpoo and Annoy bsar such convincing evi.
deuce, corroborated by the trembling millions who
write their devoted doors-"lve are submissive
people, Tin order to escape the ferocy of the British
wary which sweeps their land like the scathing
srocco.of the DESERT slaughtering their men, violating
their women, and exterminating their children. We
say, supposing this truly mild and Christian people
should undertake to supply the United States with
ufactured goods year gratis would not this
try be benefited by the operation, although
acturers would be ruined II to what point must
the price rise before those goods to be benefit
clearly toI that point where manufacturers
furnish them cheaper is the with
eoons. We think this view clearly illustrates the ope
ration Of the tariff
Theollowing statement of the debt of the city of
MOBILE according to the report Of the Finance Commit
tee, March 2, Is4e.