The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-03-13
MONEY MARKET.
Sunday, March ia n,


The news by the Great Western presents no material
change in affairs. Money is plenty but no returning an
maon apparent in the great channels Of tradeon the
contrary all the marks of heavy pressure causing de-
creased consumption Of goods and consequently ofdmH
ished trade visible The Steamer brought over
100000, the proceeds of bills purchaed here.
The office OF Bank Commissioners, far from being
OF any beneht to the public in the way of protecting it
from losses by weak institutions has been positive in
jury, in as much while utterly inefficient for the pur
poses, for which they have been appointed the public
have reposed confidence in them AMI have thereby been
lulled into security, when they otherwise would have
been the alert Not only have the Commissioners not
warned the public of their DANGER but they have by
cards published in Wall street papers, endeavored
duce the notehoders into false confidence and conse
quen loss when fears of the standing of certain Banks
had justly been excited The office a useless expense
at best and should be aboshed-not, however, without
compelling prompt end frequent publications their COLI
dons on the part OF the Banks During the suspension
this was enforced monthly and had the best effects
Where returns made public but once in the year the
Banks call in their loans effect settlement and prepare
for the event. It is well known fact just before the
LIST Of January Of each year. there pressure in conse.
quence ofths Bank movement, and an undue relaxation
after the returns made heightened by the payment
dividends at that period This should not be- 1.-THE re.
be of the standing ofhe Banks great source
of unsteadness would be avoided The New York Banks
occupy to the other Banks in this country, position ST.
mlar to that ofhe Bank of England regard the other
institutions OF Great Britain. They an influence
over them which would be apparent if the real
of affairs were better known. The pubcat of month
y returns in England long resisted by the Bank but
public opinion finally compelled it, and the best results
have attended it. There is no reason why the same
thing should not be compelled the part of the Banks
here On the contrary the welfare of the people mpera.
lively demands itmore especially the will
henceorth be upward and the Banks in stocks,
will run racein all kinds Of busness concealed from
public view they will to and explode whereas
if their affairs monthly laid before the public they
would constantly be restricted Since the returns of
January, the Banks Of this city have
largely upon stock which has alone been the cause of
the rise which has taken place. the public the
stockholders and in some the directors are
impudently refused any information TO the extent to
which their property used in these dangerous opera
tons The periodical examinations ofthe
not worth rush. The Banks may ruin themsclye s
and explode before another annual report If they were
compelled at least monthly, to show their condition and
the heads Of their loans they could not false
direction far without being corrected Some false state
mens would undoubtedly be made like those the New
York Life and Trustbut they could frequently be
repeated without detection. The great of the loans
upon stocks and their consequent that the money
ostockhoders in Banks has gradually been withdrawn
from mercantile employment by the maturity and de-
crease of business paper-a great for which has
been Ammunition Of 900 six months in imports
This money accommodating in the banks has found EN-.
ployment in stock loans and business paper
makes its appearance, will be Withdrawn from stocks
This great fluctuations which ought to be avoid
edat least the extent to which going on ought to
be known to every business and capitalist in the
country because all alike interested in that which
generally affects values. Monthly publications would
afford this information with precision, and be great
guide to merchants. The Bank Commissioners are a ri.
dculous humbug-they afford neither information nor
protection