The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-11-23

is by the increase Of the registered notes.
The amount of loans to the bankers has increased I'M
mensey more than doubled. The amount due the Urea
sury OF United States has been materially diminished
The poverty of the general government will compel the
Treasurer to call for the small balance left. The
loans and discounts independent of those to directors and
brokers' have decreased than three millions and
half large proportion ofths is Withdrawal from the
regular business discounts of the banks and this branch
of their loans must continue to fall Off The banks are
rapidly approaching crisis in their exsence-they have
been placed in their present position by the natural
the events that invariably follow in the footsteps of
great expansions of credit by the reaction that invariably
falls heaviest upon the creators of speculation and gam
bling and by the want of that confidence necessary to
sustain all banking institutions.
The tide of prosperity that the manufacturers of
Great Britain are floating on, is expected to con-
tnue about twelve months. The markets for the
raw material were in exceeding healthy state.
Considerable speculation going in wool the
cepts having increased, and prices improved The
slant employment the manufacturing classes in
every part of England have received for some time
past has vastly improved their condition. cele-
brated statstican has after elaborate investiga-
ton proved that larger number of families in a
great measure supported eighty years ago. by hacking
carding combing spinning and weaving WOOL flax and
hemp in Great Britain than supported by all the
kingdom The facts equally true regards this
try The extent of manufacturing interest is judged
Of by the capital employed and the number and magn
tude of the establishments. This is but item of the
whole The quantity of cloths of every kind manufac
ured of cotton wool and fax by the agricultural part of
population is immense; and in proportion to the
Der OF inhabitants larger per cent partly support
ed by this branch ondusry than will be the at
the end of the next fifty years This is the result of Eng
lands progress and the will produce similar
effect here The value and quantity of manufactures in
the country grows powerful but fewer people
are employed in producing the additional amount.
The of the Bank of England tend strongly
wards monopoly II is adding to its branches in the coun
try and extending its circulation by absorbing that other
banks They have made arrangements with several large
joint stock companies to supply them with notes,
dition that those banks shall circulate other notes..
Several of the largest Scotch banks carrying out the
prncple very lately or two smaller companies
merged into powerful banks giving these mo-
noposts additional power in controlling the financial
operations of the kingdom The late law passed Grea
Britain requiring the banks to make monthly reports of
their condition. will give the earliest movements
of these institutions who are so graspng after power
We experienced the effect of this system in this
country we have passed through times caused by this
monopoly of Banking power that will ever leave the
marks of their existence We have dearly purchased the
knowledge of its blighng tendency, and the good
Of the people of America will prevent repetition of the
acts that thoroughly engraed in our bank
ing institutions. The Bank of England with all its capt.
tal with every intention, and with all its efforts, may
be able create the state of things in Great Britain
that the United States Bank did in this country 1t has
different people to work upon-they have still before them
the disasters that overwhelmed this country but any
nopoly of any connected with trade
and finance promotes dangerous, uncertain, and I'M
natural condition of things