The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-12-03
CURRLNf RATES OF BANK NoTEs AND DoMEs TIC
Boston '....... par ~

This presents great uniformity of rates. In looking
back ut under the regulation" of the ma
tiona bank monthly tables Of which during its whole
stence been printed by order Of Congress- the
win searches tor periodwh great uniformity
listed during the period which has this year elapsed
since the resumption of the Southern banks This unis
iormity arises from u.s. that all bills
now payable the uniform currency Of the constitutions
and the other that the effective demand for the purchase
Of goods aud the payment of debts has been closely
confined the actual supply based upon the crops There
have individual corporate kites ahoa-no fac
titious demand for fictitious bills for kng purposes has
influenced the market either to raise depress prices
The supply of actual bills for remittance from end
the Union the other has been ample meet the demand
from all those who had anything to remit This const.
tutes ahealthy of the exchanges, and of the
rency Notwithstanding this there is vague desire for
regulation among certain classes who have sinister
view the matter This arises from the fact that they
have outstanding debts due from people who have not the
of paying and the pretence is that national in
suton furnished the of remittance, they could do
That is il somebody something would lend them
the money they would pay their debts Other debtors
collect what is due them in tho bills Of broken banks and
call it currency" Tho loss they sustain on this they
call exchange" and imagine that national bank would
remedyit Suppose exchequer branch were now es-
tabshed in Mobile with its vaults stuffed full Of bills
New York 1t would not improve the exchange between
heponts in the smallest fraction because the exchange
acuayn favor of Mobile the apparent exchange
only the depreciation of the currency of their nsoven
banks As long they tolerate that currency there
remedy whatever for the losses sustained by the people
ofthat section Manyexchequer project bsen putt
ward from Wall land esewherehs desgn Of which
is evidently less regulate exchanges" than to expand
the currency by making paper promises pass for money
The Wall street papers have lately contained pro-
ec under the signature ofFranklin which appears be
intended as compromise between the regulators of
change and the advocates of paper money This plan
we annex ns follows g lts M .s.-r it
PLAN FRANKLIN. .'tu .t
l. Lett National Depository be established at the seat
of Government and at such other places in the United
States may deemed necessary convenient say at
New York, Philadelphia, Cincinnati, New Orleans
Charleston, Boston, sc. 90 ..,l
O. In each depository there should be two distinct Of
fees, viz. Revenue Office and an Exchange Office.
3. The msnies belonging TO the United States must be
kept in tho Revenue Office and those belonging to nd
viduals in the Exchange Office. ~, naf
"a To each depository there must be superintendent
and register each office, with such number oil clerks
as the business may require. "a
8. Each Exchange Office must have the power to isfue
paper currency payable at the Office at which IL is
sued but the such currency must never excited
the actual OF specie holder Tor Its redemptien
The paper thus issued should be in the following orm;
.l o Q . Q Q . . Q
e.o The bearer is entitled on demand, 70 twenty
dollars in specie, deposited In the Exchange Of x
70 Ace of the National Depository in the City Of
20 New York INV YoRK, July 4, ls43,.. y
r. Fem, Register d Stiles superb :
.t. = zoe e-o e.escs as oess sase $500 +
The issues will be ofsu denominations as may be pre-