The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-11-15
MONEY MARKET.
Monday, Nov. I4-6 p. Nj


The stock market has exhibited much better feeling.
Sales very SMALL but prices of sound State stocks
looking up New York State SIS of 1858 D the
last sales State rs Ohio 6s 1870 per cent Kentucky
6's declined l.
We have received the message of Governor M'Donad,
of Georgia large portion of is taken up with bank
ing affairs After stating clearly the lamentable
suits growing of connection of the State of Georgia
with the Central Bank he states that up to October u.s.
that had expended legislative appropriations,
s2ss5OOO of which 1896 for internal improve
mens aud the balance for State expenses The bank has
in circulation ST. 500 OOO which he the people
will lose 100000 He therefore recommends repeal Of
the laws requiring the the part of the banks
and also the immediate resumption of the State taxes be-
fore relnqushed to the counties since the establishment
Of the Central Bank to the extent of S9s5OOO and the le
vyng of small addition, which will be sufficient to dis
charge the claims upon the State, as follews:-
These expenses having been paid by the Central Bank
they become Legitimate charge upon taxation. This
must the resort the government is inevitably dis
honored The public faith must be maintained and to
pause to discuss the question of preference between
ton and dhonor would be to cast reflection upon the
character of the people whose servants The peo
pie sensitive the subject of taxes and is pro-
per that they should be- to check the wastel prodgay
Of their rulers but they pay them without murmur
complaint when they convinced that they requir
ed by the necessities OF the government.
recommend the repeal of the law authorsng the bust
OF banking. THOSE VINO nave embarked in the
riment failed realise their hopes any law that
encourages the issue OF paper injurious to the
nifty.
He recommends further that the tax bank stock be
required be paid in specie in order that the be en-
abled pay the interest the State debt He then in
referring the condition of the banks that in Oc
tober they held but $500 0OO and of cir
culafon and deposites After these sound views the Go
argues himself the recommendation of stay
law, follows
This state of things is Produced by the of the 60
vernment The government then, should as posi-
sible, avert from the people the consequences of its
policy. The manner in :, hich this is TO be accomplish
ed, is for your consideration would, however sugges.
that the purposes of Justice might be prov
ding for the Of raiue opery ,chich
should NOT be soid in all here specie specie funds
demanded or that when property is sold for such
funds the debtor any of his creditors who may
resale of it, shall be permitted to redeem it within
specified time, under such regulations you may pre-
scribe
On national affairs, particularly bank he makes the
following just remarks =
is misfortune that there is any for difference
OF opinion in regard to the OF Congress establish
bank The perpetual strife this subject ought be
put to rest by explicit constitutional prohibition After
the amentable experience of the late institution 1t is
misfortune for the moral character of the country that
there should be any who deem expedent create ma
tonal bank. II is unnecessary to here, its
crimes ami its ioies They written on every page of
its wicked history Instructed by your mme-
date constituents prepared express the public
will in regard to the establishment Of national bank 1t
is duty, presume that will not be omitted.
The following is comparative Of the affairs
of the Banks of New Orleans the instant and on
hedate of the previous return =