The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-01-20

ed as follows
From Customs, s45sa.ss6 81
| OF which are from cash duties sll6So 70
And from,Ronds ,4S6, 605 "a
Besides the land.revenue from partial re-
| From land offices heard from s264Sls 81
| From those not heard from there was re-
of the wear is4i. lIO42i IS
Total land revenue. se4sss 80
The seventh annual report of the Illinois Canal Com
missioners received gives in full the opera
the canal but without proposing any plan Tor m
completion. The whole of Canal indebtedness
| both scrip and acceptances outstanding, SsS2,76o.
| The following is an extract -
cit will be remembered Gen. Thornton negotiated
loan in lsio of 900 behalf the canal contractors
with Magniac Smith and Co. of London and at the last
and e state hsd realized
from the bonds On investigation OF the affairs OF the
canal we discovered deficiency, as appeared from the
books the eighty odd thousand dollars and
caused the fact to be communicated to him. and in De-
cember last he visited Lockpor and made such exhibits
of his accounts that then satisfied there was no.
thing wrong. He had been authorized by power Of
attorney from the Governor purchase scrip with por
letter from Nevins, Townsend & Co. of New York &C.
knowledged the receipt Of about SAT 900 out Of amour
loaned Gen. Thornton pay it, But this letter not
being such voucher the commissioners could rec'
the Whole matter was left open for future settlement ser
General Thornton should proceed New York. snd OBJ
tain the proper evidence OF the payment of the money
which he promised to do, and return to Lockper This
however, he did do and the whole matter sss 1t
The high character General Thornton. sustans
orbds the idea that he defaulter but we feel
duty to communicate the facts Of the case"
On Sunday last published list fthe stocks held
by the New York Life Insurance and Trust Co.. both alb
soluely and collateral the date OF their last reports
The loss those stocks by depreciation was in the
neghborhood of 100000 The amount of loans bond
and mortgage, not included in loans of capital, was
So ll6the number of loans outstanding 1906
the amount of principal which interest had been
paid 1928 1886, and foreclosures proceeding to
the extent $2a2 4O3 The position of this Trust Com
pany cor Quoted in the best manner, danger
than that of any other institution. owing the small
of the capital compared with the its de-
poses and the nature of its investments. When
fall in the value of the best located real estate
taken into consideration, and which will average per-
haps Is per cent will be that the company could
escape loss from this cause although they nsis-
ted upon security in double the value of the loan The
capital of the company ST. 900 GOETHE deposits trust
49, 7ss .6O6--the investments in bonds and mortgages
OIL and in stocks $6s7 1872 The state Of affairs may
be estimated thus
Loss Of 10 per cent real estate invest
ments, aa6 QO
Loss Of 10 per cent on stock inv estments 200 600
Deialcation OF Nicou, at least 100000
1856 sOl
Capital, 1000 900
Excess, IL per cent $ll3l99
The question of an Exchequer plan, National Bank or
some means of borrowing continues to be agitated by
those in favor of renewal of speculation either for po
tcal or gambling purposes The preence is that some
sound circulating medium is wanting which will enable
banks to collect drafts in distant parts the country
Why paper money will do this better than specie
rency, not attempted to be shown. If person in New
York holds draft on any in any section of the
Union who is able pay it, there slightest diff
Guilty in getting the money and cheaper than
before. Funds daily RENTED from the
Of Illinois to this city. by individual drafts,
penss OF II per cent only yet there bank Illinois
of any Sort All those who have got the money
with safety and economy Those who hold drafts on
persons without capital who have debt for goods
which they in turn have sold credit and who depend
upon bank discounts to meet drafts upon them the
rty Of their notes. do find difficulty in procuring
This state of things ascribed to the National
Bank OF uniform currency. Would those who cannot
get specie be able get the bank for no
thing If by uniform currency is meant crcula.
ting medium which will uniformly pay every body,s
debts must be the philosophers stone that the good
people in search Of No National Bank or Exche-
quer enable banks individuals collect drafts
of insolvent Debtors unless lends money them pay
their debts with. The late National Bank did So and its
S2s 900 OF suspended debt the inevitable result
The difficulty occasoned in collecting the drafts of those
who have outstanding accounts grows ofhe fact that
both they and their debtors undertook to trade not on
their capital but the credit of the banks. The
banks crushed under the losses inevitably en-
tailed by such system. The Debtors off from their
customary loans say with the greatest sang rod that if
National Bank should be instituted lend them bills
receivable everywhere they could easily pay their notes.
In order understand this of affairs have com.
piled the following table of the leading features Of the
banks of thirteen States whose have recently
received -