The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-05-01
MONEY MARK EFT.


Sunday, april 800 NJ
Thenews from Europe, five days later gives material
change. The manufacturing districts enjoyed i'm
proving business, although further advices confirming
large crop, had caused decline Of in Cotton. The
money market presented no change.
The following official notice has been made:-
TREASURY DEPARTMENT, April %, ls4a.
N0TIcE OF REDEMPTION TREASURY NorEs.-Notice
ishereby that this Department is ready to redeem
all the Treasury notes of the United States heretofore
eighteen hundred and fory.two and which have become
due shall become due before the thteth day Of
June eighteen hundred and forty three and that accord
ing the provision, of different acts of Congress- in
teest upon all the notes herein described will
the thirtieth day Of June next.
Any that may be offered under this notice the
Deposorie OF the United States in the City Of New York,
the City of Washington the Treasury, will be
redeemed in money, and not otherwise.
Secretary OF the Treasury.
At the date of the last of Treasury the
amount outstanding, subject to this notice. is S. Oseo
In relation to illinois bonds the rule enforced hy the
board with regard coupons past DUE appears very
just Illinois bonds, there two coupons for $50
each past due. The price of the bonds is % 81
it of the coupons missing, the board require that
its full value $50 should be paid This is clearly incor-
rect the coupons not worth their face They at
least worth higher per cent than the bond viz %
per cent 80 cents bond for 81 900 sells at $780,
In July, there will be three coupons for 500 due );
many oil the coupons are mlsslng-n the noder Is
obliged allow to their face he gets but $l7O for his
bond. II the law of Illinois goes into
effect, the coupons of the 100000 of canal
bonds will be the first paid out of any moneys realized
after the loan shall have been reimbursed Their
value will then rise in proportion to that OF the bond It
self The rule of the board ought to be altered in this
respect Many merchants Dealers take the bonds in pay
of goods and discharge of debts, without being
the market value attached TO the coupons and
thereby incur serious loss.
The bills OF the Urbana Bank, Ohio by late decision
of the Court receivable by the commissioners in pay
ment of debt, and may be taken for property sold.
The books of tho Harlem Railroad Company closed
yesterday for the election Of the l6h and will open
the 2Oh Last year the stock Of the company fell st.
when James Watt Esq, made large purchases of the
stock aud bonds with view to control the company,
and make it profitable if possible. His views
teracted by knot of specializing brokers' and his affairs
became involved and have remained until within the
last week, when Mr.. Watt forward and met all his
obligations to the uttermos both for bonds and stock.
Each of the contendag parties have procured all the
stock to vote possible and possibly the defeated party
will let all its stock 60 by the The Harlem road
eventually will be valuable property, and would have
been in all probability had it not been for their
unreasonable opposition to the attempts TO build the
Albany and New York Railroad dawn to Manhattan
Island. The struggles Of the Harlem Company, which
was entirely without means to extend their road with
the view of averaging its upon the whole
line have been destructive of their interests. Their
p,cywas economised and remained quiet until the
Albany road had been brought down to them. They
would then have had the whole business of the river
counties backed by that Of large portion Of New Eng
land and the Great West pouring their road and
raising its value.
The State of Indiana vas in debt theBank of that State
500 900 for various advances made the State To pay
this debt previous Legislature authorized the issue OF
bank scrip" bearing 6per cent interest," for which the
sinking fund pledged The bank, however, did not
choose to be paid this way At the last session. the Lee
gslatureI authorized the REIMBURSEMENT of 900 OF
stock owned by the State in the Bank in discharge Of
much of the debt. This has been done. The law
authorized private stockholders to settle their debts to
the bank in the same way appraised value which
has been liked at SAC the share OF $50. This is reduc
ton of the bank capital to the of these debts.
The Kentucky Banks pushing out their loans and
circulation, in accordance with the late law This will
probably lead to difficulty.
The abundance Of money IN the banks las been looked
upon as likely continue for great length Of time and
that present rise in stock will probably
meet with any sudden reaction. The high of
mer years are looked back to in comparison with those
that at present exist apprehend however, that the
relative position Of the currency now and in 1929 is
very daeren-n those years the progress Of banking
onward the United States Bank in full and vigor
action, and banks wereapdly coming into play
under It's shadow in all parts of the country Every ao
cession OF specie to the Atlantic border in those years
only gave an impulse to the swelling tide Of paper cur
rency in the interior The increasing movements Of the
interior banks only served prevent specie from leaving
the Atlantic border II flowed into tho banks here, met
the paper currency of the west and checked until it
turned rehuent on its track to Europe. There in
terror demand for it, because paper supplied its place
when however, in 1896 the specie circular created
interior demand Tor it, the domestic drain for currescy
fatal to the banks The situation of affairs now is
different There is United States Bank to expand its
paper money receives strength from specie imports
there banks going into existence whose move
men will counterfeit the western tendency Of species
the contrary bank eer bank has been struck from exist
ence. leaving terrible in the currency which
will operate strongly than the specie circular to
draw the precious metals westward and spread them ov
far.z al